You are viewing a single comment's thread from:
RE: Open Letter to all Steemians - Hardfork 21: Culture Change
" Producing content will always be done by a very small number of people."
This is completely wrong. It remains completely wrong even if you moderate it by adding monetary rewards. Steem was but the first social media platform that potentiated monetary rewards, but it is not the only one anymore. The monetization of content by users has just begun.
I already specified that I meant content that gets paid to any meaningful extent.
Why do we have to repeat this?
Monetization of content by users is nothing new. It's been going on centralized platforms for a decade and a half. It's just that on Steem users have benefited from being early adopters in a cryptocurrency project. Bring aboard a couple of hundred million users and you can rest assured very few authors will be pocketing any kind of meaningful income. The math simply won't work any other way.
Facebook is worth about $500 billion. It has about two billion users. The uppermost bound to how much the average Facebook account could be worth is about $500. Take away the value of the infrastructure and you'll be left somewhat less. But that's a very top heavy distribution. The value of an account is probably heavily dependent on how connected it is to a network of other well-connected accounts. What that means is that the accounts of celebrities and major corporations can be extremely valuable whereas the ordinary person posting about his/her lunch and cat will be vastly less valuable. Yes, even something like $100 would be something but it wouldn't allow the average person to generate any kind of meaningful income.