Post by @stani • Hey
Fundamental problem with social media today is that platforms get more or less 100% of the economic value users create
Comments
- This and also they constrain
the value that can be captured mostly around their own business model (ads). Few like TikTok or WeChat dared to open up the canvas to allow for more options to capture and create (financial-) value
- That’s right. And it’s the "bad" side of traditional social media. On the other hand, they are very effective in catching you, each one from its distinctive feature: microblogin, photos, short videos, etc. I know that if I want to see short videos I go to Tik tok, if I want to read reviews and inform myself I go to Twitter, if I want to see social photos of my acquaintances and people that I admire I enter Instagram... I think LENS is a good way to combat the problem of the distribution of the value generated (although there is still a lack of enthusiasm on the part of those who have to pay for such content with collects) but perhaps, for the moment, the existing platforms are very generic (a mixture of pre-existing social networks: video photo text.. maybe a little like facebook that is just declining years ago) I think that we have a major challenge, generate social networks in lens that are as entrancing as traditional, created on the most interesting technology and model that Lens already has. As long as those two things don’t come together... I think we clearly need more adoption. Since the percentage of collects payments I think is very low.
- They also demotivate good creators by limiting their reach and pushing shitty/crappy stuff instead
- This ☝️
Along with the problems that come from an attention seeking crowed, Filterbubbles & FakeNews and that often a "Discussion" is basically just a shouting match
- How does Lens accrue value from users? I know the goal isn’t 100% but it ought to be something
- Do you think the only option for creators is to own their platforms? There's a real tension between creators and platforms, with some tough problems to solve. Are there any new ideas out there that aren't about:
Creators owning the platformsFully open-source platforms with no business modelPlatforms that are open about how they share money with creators
In the best situations, everyone benefits, but often there are conflicts. Ideally, creators would run their own platforms to get the full financial benefit, but that's not really practical. So, if you want to reach people, you usually have to make some trade-offs.
With what we're trying in web3, we might change how distribution works. This means we need new ways to gather, curate, and find content. But then, this is just creating another platform. Unfortunately, focusing on quantity can sometimes lower the quality.
It looks like making money will keep depending on sorting out the good stuff, either by hand or with algorithms. Being the person who creates or picks out unique, top-notch recommendations could be a good job for now. But this needs a constant supply of new (or even old, but rediscovered) content.
As long as our approach to this doesn't change, it's always going to be a tough fight for creators and makers. This made me think about mixing something like a creative UBI with Optimism-style Retroactive Funding. The key is believing there are enough people who care about a fair system, not just because it's free.
It reminds me of what Gabe Newell said about piracy - often, it's because the experience isn't great. What needs to change in our attitude towards content to bring the value back to the creators?
- Lens is in such a great position to change that. I start salivating thinking about the world where creators and viewers alike can freely choose apps that share the most revenue with them. It might not be as easy, as content silos are already forming.
- 100% but it's changing thanks to Lens, right ?
- Agreed, but I don't think we yet have enough sustainable Web3 rewarding/supporting models or tools to discover the value of content/engagement.
- That's why we should Web2 social media...
- True tho
- Fact 👍️
- 💯