Basic napkin thoughts on pump fun raise and potential outlook

1. Raising at 4x the acquisition price of twitch, but inflation and market relevance plus liquidity for trading plus pump swap doesn’t make the valuation insane.

2. The big issue pump has is its strength. The distribution lays in the ca of a token launch “pump” at the end ca. it’s a great calling card, but pump isn’t getting people to stay on the site. They’re leaking money they could be making in site traffic because third party business became the discovery engine.

3. This is not the twitch playbook it’s the kick playbook. You launch streaming and content for retention and relevancy of the brand. You sell defi trading products. So when a viewer watches a creator they know its from pump fun and reminds them of products.

4. Big streamers will have to be paid an insane multiple to not only stream on pump but to launch a token. I don’t think crypto understands how average streamers think at all. They don’t care to share money with their community and many do not want the responsibility with a token. So yeah…very expensive.

5. New creators will be their only shot at market relevance so they will double down on people like gainzy and blending them with normies

6. Streaming sites have political ideologies. If Twitch is liberal and kick is republican then what is pump fun? It won’t be liberal.

7. Clipping content is where the value will be. We are launching a product for this in a few weeks using our ai algorithm and we will include pump fun streamers in our index when ready.