RE: The Hive Thesis: Price is What You Pay, Value is What You Get

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6/6 🧵

The Bigger Picture

Your Buffett moat thesis is strong — censorship resistance, HBD yield, sticky communities. Don't undermine it with inflated metrics.

The real story: a small, passionate community punching above its weight in retention and ideological commitment. That's a quality moat, not a quantity play. Own it.

#threadstorm



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