Twenty Snap alumni have launched Ghost Angels, an angel fund targeting pre-seed to seed AI startups building the next generation of social media and consumer apps. The fund has completed five investments and plans 15 more. The core thesis is that 'social' and 'media' have split into two distinct categories: one focused on genuine human connection (moving away from ad-driven algorithmic feeds toward niche communities), and one focused on AI-native content creation and distribution. Monetization models are also diversifying beyond ads into subscriptions, token-based, and outcome-based revenue. Meta's launch of Forum — a standalone app spun out of Facebook Groups — is cited as validation that incumbents also recognize this shift toward niche community tools.
