What is quality content? and how much is it worth?
Source
L
K
haha That doesn't line up right on Busy.org for some reason.
It does on Steemit.com...
There is much discussion about quality content here in the Steemit blogosphere. I thought I might take that discussion for a ride and see where we end up. I don't have any idea where I want this post to go. We'll just get started and see where my brain takes us. Come along for the ride...
Figures don't lie, do they?
According to steemworld.org, in the next 7 days,
- my quality content is worth about ~ 15.61 USD
- my quality curation rewards will be ~ 0.09 USD
- That means my content is worth about 173.44444 times more than my curation efforts.
- That means I should probably focus quite a bit more on content than curation.
- What if I was 10 times more successful at my curation?
- My content would still be worth 17.344444 times more than my curation efforts.
I should still probably focus quite a bit more on content than curation...
- My content would still be worth 17.344444 times more than my curation efforts.
- That means my content is worth about 173.44444 times more than my curation efforts.
What is quality content worth?
I guess that depends on your perspective, doesn't it?
- If you are Facebook, you can earn $15,920,000/year from people posting quality content on your site.
- It's not really that each piece of quality content is worth much. But when you have that many eyeballs looking at that much content, you can sell advertising space to companies wanting to get their message in front of those eyeballs.
- So, what does Facebook pay everyone for posting their quality content there?
Hmm, $0.000000000000000000
In other words, a big, fat, whopping nothing.
- So, what does Facebook pay everyone for posting their quality content there?
- It's not really that each piece of quality content is worth much. But when you have that many eyeballs looking at that much content, you can sell advertising space to companies wanting to get their message in front of those eyeballs.
- Depending on your perspective,
all the quality content on Facebook is either worth $0 or $15.92 million.- Full disclosure... Facebook is more than just quality content.
They also have games and chat and ...
- Full disclosure... Facebook is more than just quality content.
What is it worth to help you find quality content?
If you are Google, you can earn $12,662,000/year helping people find quality content on the Internet.
- Collectively, everyone puts quality content on the Internet and allows Google to index and rank that content and then serve it up when someone types in a search term.
- We don't charge them to make money off our content,
so does that mean our content is worth nothing? - We also don't pay them to provide links to our content,
so does that mean their service is worth nothing?- Google doesn't value our content as anything of value, else they would pay us for it, right? They have found that if they provide a quality search result, people will use their free service. And when you have that many eyeballs looking for quality content, you can sell advertising space to companies wanting to get their message in front of those eyeballs.
- We don't charge them to make money off our content,
- Depending on your perspective,
Google's indexing of all the quality content on the Internet is either worth $0 or $12.662 million.- Full disclosure... Google is more than just another great search engine. They have many services, some they even sell to businesses.
What about all that other content?
You know... "Real world" content...
There's newspapers, catalogs, TV, radio, books, recordings (CDs, mp3s, ...) ...
- And there's all types of content; comedy, news, documentaries, how-to info, videos, ...
- That can all be condensed down to... information and entertainment.
- What is all that content worth?
- If you have a flat tire in the middle of nowhere, and you have never changed a tire, and you don't have phone service to call a wrecker, but for some oddball reason you have a data connection and you search for information about how to change a tire, and you successfully change the tire and get on down the road... How much was that information worth to you?
Quite a bit, right? How much did you pay for that information? Nothing really, except whatever it costs to have a data connection.- If you had a million dollar deal waiting on the other end of your trip, then you might say that information about how to change a tire was worth $1 million to you.
- If you're cruising down the road listening to some tunes on the radio, how much was that content worth to you? Zero dollars, because radio is free, but you had to also listen to the advertising the radio station was able to sell because they have an audience of ears and there are companies wanting to get their message in front of those ear drums.
- If you don't want advertising when listening to tunes, you do have a few options. You could purchase a satellite radio subscription. You could purchase a CD of your favorite artist. You could purchase individual mp3s of your favorite songs.
- Radio is still a big industry. 2016 revenue was $21.86 billion in the US. source There industry is HUGE compared to ours and they don't even put out information that could be useful, like how to change a tire!
- If you have a flat tire in the middle of nowhere, and you have never changed a tire, and you don't have phone service to call a wrecker, but for some oddball reason you have a data connection and you search for information about how to change a tire, and you successfully change the tire and get on down the road... How much was that information worth to you?
21.86 billion!
- Compared to a few million earned by Facebook and Google.
Advertising drives the world of content
- Why does Facebook provide you a fun, "FREE" service?
- So they can sell advertising.
- Why does Google provide you a "FREE" search engine complete with maps and business hours of operation & phone numbers?
- So they can sell advertising.
- Why do radio stations provide you with "FREE" entertainment, news & local weather?
- So they can sell advertising.
- Why does SteemitInc provide you with a "FREE" platform to post your quality content?
So they can sell advertising.
Wait!
What?
Thanks for asking.
There is no advertising on Steemit.com?!?!?!?
- Nope!
- Well, yes some of the content on Steemit is advertising.
- But SteemitInc does not sell advertising.
- Well, yes some of the content on Steemit is advertising.
But, but, but...
Wait!
What?
Thanks for asking.
Steemit is a new economic experiment.
- The company makes no income from advertising. (Yet)
- Your content doesn't directly translate into revenue for SteemitInc like it does for Facebook, Google or radio stations.
- In fact, the more views your content gets, the more expense SteemitInc incurs. They have to pay for servers to store that content and then bandwidth when people want to see it. The better your content is and the move views it gets, the more it actually costs SteemitInc.
- Your content doesn't directly translate into revenue for SteemitInc like it does for Facebook, Google or radio stations.
- Does that mean we should be paying SteemitInc to blog here?
- Yes, if it weren't for the genius idea behind SteemitInc.
- Fiat tokens created out of thin air.
- Yes, if it weren't for the genius idea behind SteemitInc.
- Central banks of the world (which are controlled by about 5 or 6 family dynasties) create fiat tokens out of thin air, call them money, loan them out with interest, and only accept their fiat tokens as payment, so the debt can never be repaid.
- OOPS! Sorry, I got a bit sidetracked there...
- Back to the story at hand...
- OOPS! Sorry, I got a bit sidetracked there...
- So, do these fiat SteemitInc tokens have any value?
NOYes!
- The current state of Steemit affairs will be radically changed once SMTs are introduced.
- But rather than speculate on those, let's look at the present situation.
- Anyone or any company wanting to get their message in front of our eyeballs and eardrums can do so by purchasing these tokens. It's these tokens that provide influence on this platform.
- But rather than speculate on those, let's look at the present situation.
- So does SteemitInc value your quality content or not?
- What does SteemitInc pay you for your content?
- Nothing directly.
I have no clue how to figure it, but they do pay you indirectly via delegating to various things.
- Nothing directly.
- What does SteemitInc pay you for your content?
- Does SteemitInc care about the type or quality of your content?
- Not really. Unlike Facebook, they do not influence any particular type or quality of content.
- They are only interested in growing the eyeballs and eardrums using our quality content.
In hopes, some big players decide they want to get their message in front of those eyeballs. - That would create more demand for SteemitInc's fiat tokens,
meaning the price should go up,
meaning SteemitInc becomes worth more.
- They are only interested in growing the eyeballs and eardrums using our quality content.
- Not really. Unlike Facebook, they do not influence any particular type or quality of content.
Let's peek at the future
SteemitInc really doesn't care if you put quality content on the platform or not.
SteemitInc really doesn't care if creating communities makes Steemit.com a higher ranked social media platform.
- SteemitInc really only cares about making the best blockchain out there.
- All they really want to do with Steemit.com is prove the concept of sharing quality content using the blockchain.
- That will mean people who are great at creating content web sites will hopefully decide to use the then proven Steem blockchain as the backbone of their new site.
- Their stated goal is to have 100,000+ sites developed using the Steem blockchain.
- That will mean people who are great at creating content web sites will hopefully decide to use the then proven Steem blockchain as the backbone of their new site.
- All those sites will each have their own token which will be tied to Steem tokens.
- If all goes as planned, Steem tokens should become much more valuable than they are now.
- That's why I recommend doing whatever you can to build a lil nestegg of Steem tokens.
- If all goes as planned, Steem tokens should become much more valuable than they are now.
Conclusion.
What is quality content? and how much is it worth?
I guess in 7 days we will know if this post is quality content and how much it is worth...
- According to steemworld.org, in the next 7 days,
- my quality content is worth about ~ 15.61 USD
- my quality curation rewards will be ~ 0.09 USD
- Depending on your perspective,
all the quality content on Facebook is either worth $0 or $15.92 million/year. - Depending on your perspective,
Google's indexing of all the quality content on the Internet is either worth $0 or $12.662 million/year.
Everyone has their own opinion on what is quality content.
Everyone has their own opinion on the value of quality content.
- It is what it is.
- The value of quality content is whatever it is.
- If you upvote this post for whatever reason, does that make it worth more?
I dunno.
But I do know it increases my rewards for writing it.
- If you upvote this post for whatever reason, does that make it worth more?
You do realize I tagged this satire, right?
I might be poking a bit of fun, when I say things like...
my quality content
Facebook is more than just quality content.
I wonder if 1700+ words is enough to be considered quality content?
I wonder if I add a picture of our new kitten if that will transform this post into quality content?
Source = my phone...
Hope you enjoyed the ride
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I'm not even sure if I know where to begin. :)
Maybe here. Perspective does play a role in associating value with anything. In fact, maybe it plays the main role if there's not a clear cut intrinsic value. You can tear apart an iPhone and generally come up with an amount for the sum of the parts that equals roughly half what Apple charges.
At some point during all of those transactions, business to business and then to user, each one determined, like it or not, that each part was worth what they bought it for and the same for each phone. So, yes, value is in the eye of the beholder, just as is what constitutes quality. Very subjective.
All that said, most of us are used to having the worth of something associated with time, because we work in jobs where we get paid by the hour, or we get paid by the contract or the project, where we then try to do things as efficiently and as quickly as possible, thus making our time "more valuable."
In the case of Steemit or the STEEM blockchain where all of the social media apps currently exist, we're not talking about things we can quantify by the hour. It's not even like a business where services or products are generally set and agreed to before the work is done, not after. In the case of Steemit, we're creating whatever it is, and then flinging it out there for others to assign value to, or not. In other words, on a much smaller level, we're repeating what happens to STEEM on the macro level. We're taking what we see from others who fling it and say, this is what this is worth. Only, we don't have the resources to necessarily assign it what we would, and we've got a host of other reasons for rationing and rationalizing how we use our varied control over the reward pool.
The truth is, most people who are active on STEEM at any given time do not see what we post. So, our value is being based on the amount of people who actually upvote it of the group that actually read it of the group that actually saw it. It's increasingly diminishing returns. In most cases, we're talking the collective upvotes between 2-40 users. Which means, with roughly 60,000 active users a day, at best, 0.0667% of daily users are actually upvoting our stuff. I would say that the difference between those who might be reading (or because they can, have us on autovote because they read our posts a few times and thought it was good) and those who upvote is probably small. I'm also going to guess that the numbers that actually see us at any given time is small, too, not reaching anything more than a factor of three to five, which means the total amount of eyeballs on our stuff won't exceed those of 200 people. That may actually be too generous of an estimation.
So, before we can really assign worth, we'd need to know how many people see it versus how many people upvote it.
One problem here on Steemit or any platform trying to reward content, is content won't ever be rewarded fairly. I don't know what would be fair, but this isn't it. For instance, I would like to upvote such a fine comment as yours, but my vote is at the dust level with the price of Steem this low. I went from upvoting every piece of content I found interesting or entertaining during the first few days on here. To rationing out my voting power so I maintained 80%. I thought I was rewarding, but come to find out because of the dust vote limit, I was just wasting my vote. So, now my goal is to get my vote above the dust vote threshold, so I can at least actually reward some of the quality content I run across. I said all that to say, sorry my vote is dust, so there is no need to upvote your quality comment, but I do value your opinion very much.
It's hard to put a value on anything. It's even harder to put a value on content.
I had a t-shirt business for awhile. I could purchase a shirt for about $2 and a heat transfer for $1. At that point those items were worth $3 because that's what I paid for them. But if I successfully transferred the picture or whatever to the shirt, I could sell that for $12.95, or $9.99 on sale. But if I messed up, I was lucky to recoup my $3. What is a shirt and a heat transfer worth? Depending on perspective either $3 or $12.95.
What is a rock worth? I can purchase 1 ton of river rock for about $100 or $0.05/pound.
If someone bags that rock, I will have to pay about $8 for 40 pounds or$0.20/pound .
Is river rock worth a nickel or 20 cents?
Yes!
What is Steemit quality content worth?
Whatever it earns 7 days later.
That's not to say the value of that quality content is equal to what it ends up being worth.
If you happen to write a post about how to change a tire, the value of that content might be $1 million to someone, someday. But I highly doubt you will make anywhere's close to $1M for writing the post.
It is true that you tend to get rewarded for quality content in proportion to the # of eyes that see your content in 6.5 days of you writing it. I've been putting in a lot of overtime, so don't see nearly as much content here as I did just a few weeks ago.
I think once the competition begins for users on the Steem blockchain, it will be a good thing. I think someone, somewhere will come up with a fairer reward system. I think one key will be to have a reward system available past the 6.5 day limit.
And with that, I'm off to work...
Thanks to tossing around ideas with me Glen. I've always enjoyed that!