Most people will focus on @jessepollak saying the social bet didn't work. I think the bigger story is the restructuring happening around it. @baseapp moves back under @coinbase, with @cobie stepping in, while Jesse doubles down on what Base may be uniquely positioned to own: trading, payments, stablecoins, and AI-native commerce. That feels less like abandoning a vision and more like sharpening the focus. Consumer social products are brutally difficult businesses. Infrastructure, financial rails, and programmable payments are where Base already has distribution advantages that very few ecosystems can match. Coinbase has users. Base has developers. Stablecoins have demand. AI agents need payments. The pieces fit together surprisingly well. The social layer can continue evolving under Coinbase's broader product strategy while Base focuses on becoming the default settlement layer for internet capital and machine economies. Will it work? Nobody knows yet. But one thing I respect is the willingness to change direction when reality disagrees with the original thesis. Too many companies spend years defending old narratives. The best builders adapt. That's the advantage of building in public. Markets give feedback quickly. The best teams listen.