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Why decentralized social networking never makes it — ever heard of Crossing the Chasm?

Every now and then, the “why hasn’t decentralized social networking succeeded” discussion pops back up. And inevitably, that motivates somebody who thinks they can do better. They proceed to design a new set of decentralized networking protocols, write lots of code, and get early adopters to enthusiastically adopt the New Thing. Which then, inevitably, never…