content as capital

The slots that books that connected with readers once occupied are now increasingly occupied by the equivalent of the botshit that fills the first eight screens of your Google search results: book-shaped objects that have gamed their way to the top of the list.

What’s more, art is no longer semblance. It fuses with reality.

The thing that makes “influencer” such an attractive option in those surveys is precisely this idea that it names the outcome rather than the actual work. We don’t actually have a good word for what it means to do that work. Partly this is because there are big differences between platforms (and within platforms, for that matter), and there is no... See more

The problem, in other words, isn't intermediation – it's power . The thing that distinguishes a useful intermediary from an enshittified bully is power . Intermediaries gain power when our governments stop enforcing competition law. This lets intermediaries buy each other up and corner markets. Once they've formed cozy cartels, they can capture... See more

That's why we have intermediaries, and why disintermediation always leads to some degree of re-intermediation. There's a lot of explicit and implicit knowledge and specialized skill required to connect buyers and sellers, creators and audiences, and other sides of two-sided markets. Some producers can do some of this stuff for themselves, and a... See more

The essential truth of every social network is that the product is content moderation, and everyone hates the people who decide how content moderation works. Content moderation is what Twitter makes — it is the thing that defines the user experience. It’s what YouTube makes, it’s what Instagram makes, it’s what TikTok makes. They all try to... See more

The problem when the asset is people is that people are intensely complicated, and trying to regulate how people behave is historically a miserable experience, especially when that authority is vested in a single powerful individual.