What Is Everybody Doing on Discord? (wsj.com)

The money quote, literally, on subscription v. ad models for social platforms:

"You’re bank­ing on mak­ing more rev­enue from a small sub­set of pas­sion­ate cus­tomers will­ing to pay for the prod­uct than you could from show­ing ads to the whole cus­tomer base....It’s risky to rely on keep­ing con­sumers pay­ing over long pe­ri­ods of time, but beau­ti­ful if it works."

Read that carefully. It's risky only because you might not achieve theoretical maximum revenue through a subscription model. The ad model could bring in more revenue than subscriptions...that's the risk you're taking as a business owner when you choose a subscription model over an ad model.

As most business owners know, some risks are worth taking.

NFTs Explained: What’s Driving Prices for LeBron James and Kings of Leon Digital Collectibles (wsj.com)

I'll remember this as the one-liner explanation of NFT's:

"Non-fun­gi­ble to­kens al­low peo­ple to buy prov­ably orig­i­nal ver­sions of every­thing from digi­tal art to pop al­bums."

Provably original versions. Of everything.

Rob Gronkowski will sell NFTs of his best Super Bowl moments (msn.com)

The celebrity stampede to the NFT gold rush is well underway. I'm starting to wonder who will be the one to define the "jump the shark" moment here. Maybe Henry Winkler will tokenize a digital representation of his thoughts while he was literally jumping the shark. That would be cool.