Media on the incumbent web is in crisis. It turns out that paying publishers for clicks, endless loops of “content” and ads, all served on platforms far beyond their maximum-viable scale is ideal for misinformation, disinformation and the decay of trust.

The values in the digitally induced reality have no other expression than the participation of others—as if it were a Ponzi scheme. And it is a Ponzi scheme. Anything viral and “participatory” brings more value to earlier contributors, but this value exists nowhere except in the engagement of later contributors.

More positively, establishing a track record through proof of passion may finally enable a scalable business model for independent cool-hunters and curators. Those who consistently invest in overlooked and underappreciated items that then wildly succeed will be sought after. Marketers and algorithms will surveil their purchases, swarming in after.... See more