Author: Robert Overweg / Source: The Next Web
A new wave of companies is coming which will view the sharing of revenue with their users as natural part of doing buisness. This vision is fixed in code, written down in smart contracts on a blockchain protocol. These contracts automatically secure and execute the vision, and the operation of the company.
I believe that in due time, these companies could sprout new economic models, empowered by its tech and a vision for a more fairer world.Although the dominant platforms Facebook, Youtube, Google, and Instagram keep increasing in size, a clear negative shift in sentiment is unfolding towards them. Rightly fueled by scandals and new expectations.
The way I see it, if consumers want change — and companies with the right vision and the right technology tap into this — we could be seeing a new wave of companies having success with a more open and fairer model.
Uneven distribution of wealth and the changing zeitgeist
Currently large tech platforms like Facebook, Youtube, Google, and Instagram take the lion’s share from the market when it comes to revenue generated from advertising, search, and content. Most of the users from these services, receive little to no value in return for their addition. You could say content in return for likes, views, and dopamine hits.
Based on estimates, Youtube generated $12 billion in revenue in 2016. Only the really large Youtube stars get a tiny fraction of this amount. Recently Youtube raised the limit for the amount of views you need before you get to share in the advertising revenue.
One can’t help but to wonder if this is an honest model.Besides an unbalanced reward system, I also see a seismic shift happening in the sentiment people have towards the big tech platforms. They are experiencing a push-back from governments. Multiple former Facebook executives have publicly stated that they created a tool that is “ripping apart the social fabric of how society works.”
Recently the #DeleteFacebook became trending after several call-outs of influential people. This does not have a immediate effect on the companies, but will change the public’s perception of the companies. Which in return creates room for new companies with a different mindset.
Besides, there is a growing demand from consumers, especially millennials, who would like large corporates to contribute to society. 91 percent of millennials would even switch brands for those who are associated with a good cause. This sounds like music to my ears. Could this also mean that there is room for companies who do good for their own users as well? Is it finally time for new models?
New platforms and new models
First steps have been taken by several new video platforms like Flixxo and View.ly to try out new models. I’m not here to endorse them or to tell you that they’re the absolute right way to go — but what they have done is they’ve shown a possible way from the greed of current tech giants. They reward users tokens for watching, sharing, or uploading content. You are being payed to use…
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