
The Economics That Define Social Media

Content-first and advertising-first will break down the dominant social networks over the long run.
Alexandre Dewez • 📽 Snap. A Picture is Worth a Thousand Words
of larger society. So that’s a very old battle in human history between the self-serving stories of an elite and the stories that can actually help serve a broader society. Part of what we’ve seen in our economics is that elites previously used to appeal to gods, to how our ancestors did it, to the natural order, etc., to make credible their storie
... See moreW. Brian Arthur • Complexity Economics: Proceedings of the Santa Fe Institute's 2019 Fall Symposium
Although digital platforms promise interpersonal connection and form the technical backbone of our online society, they are, first and foremost, spaces driven by capitalist logics of enclosure, control and profit-making. They are owned and operated by private corporations accountable to shareholders with voracious appetites for revenue. They have a... See more