Medium, is an online publishing platform and one of the most notable names in the blogosphere.
Today they announced they will be laying off 50 employees, roughly one-third of their staff.
They're also closing offices in New York and Washington, DC.
Medium's CEO Ev Williams, wrote that the company would be changing its business model
Our vision, when we started in 2012, was ambitious: To build a platform that defined a new model for media on the internet. The problem, as we saw it, was that the incentives driving the creation and spread of content were not serving the people consuming it or creating it — or society as a whole. As I wrote at the time, “The current system causes increasing amounts of misinformation…and pressure to put out more content more cheaply — depth, originality, or quality be damned. It’s unsustainable and unsatisfying for producers and consumers alike….We need a new model.”
This is the biggest opportunity that steemit has ever encountered. Medium is an already established platform with huge reach and they are cutting back in part because of ad revenue, but also because advertisers are beginning to pressure for specific spins and narratives to be pushed.
Upon further reflection, it’s clear that the broken system is ad-driven media on the internet. It simply doesn’t serve people. In fact, it’s not designed to.
To my mind this means that Mr Williams is as concerned about integrity as he is about profits.
He has acknowledged that they need a new model, now we need to convince him that
Steem IS the model, and Medium just needs to adopt it!
Honestly it should be trivial for a company like Medium to adopt steem.
Moving Medium onto steemit infrastructure would provide the following benefits for Medium
- Hosting and scaling costs are close to nil, because all the data is hosted on the blockchain.
- The database backend is rock solid and cannot be compromised by hackers and attackers due to the type of cryptography used.
- Generating revenue directly through upvotes which completely negates the need to be beholden to advertisers.
This is literally everything he is asking for from a strategy perspective and we are perfectly poised to help them.
I'm also calling on the entire community to head over to Ev William's blog and extend him a warm invitation. Some of our writers such as @stellabelle came to us from there. So maybe it would be a good idea for those writers to create articles about how Medium could benefit from steem integration, submit them to Medium and to Steemit so the Medium community can see just how much of a peanut butter meets jelly situation this really is for all of us.
This post is 100% steem powered!