Facebook earns $211/year for showing ads to their average North American user.
The users get $0 in return.
Lightning companies will eat away at this arbitrage opportunity by rewarding users for the value they bring to the apps they use.
It's worth pointing out that your attention is basically how you see the world.
Depending on what you pay attention to, a different world will appear to you.
We're living in a world in which the majority of people are being shown what the big companies want you to see.
For example, scrolling away on tiktok is not showing you random videos. It's a personalized stream of content created for you, only you, so that they change your mind in a specific way. It could be for you to want to buy a product or to vote a certain way. It doesn't matter. It is whatever the client of tiktok wants to shift your mind to.
And this applies to anything with a feed, including Facebook, YouTube, Reddit, etc.
Make sure to pick whatever you want to pay attention to, because that's your life. Stop mindlessly scrolling your life away.
We will have to disintermediate the world :)
Wholeheartedly agree. Humans can't help but to try to get in between every single transaction and extract rent.
Facebook earns $211/year
Facebook earns $211/year
I was trying to do the math, then I saw the chart is for quarterly revenue numbers. So $50.25 quarterly X 4 quarters = $211. (or, 2,700 sats/day at the current exchange rate).
But not all FB revenue is from ads. They sell data, and have other revenue-generating activities. I haven't had an FB account in over half a decade, but I have no doubt FB knows a ton about me and is bringing in revenue off my data.
That, to me, is what I hope to see bypassed. If I am chatting in Keet, for example, and sending sats (when that is supported), neither the conversation nor its metadata is known to Facebook (or anyone), and same with the payment. While this comment reply can be indexed by a search engine or other aggregator, it is not something Big Tech is directly monetizing.
And likely, the platforms I do use will not be subjecting me to ads. Well, at least not the annoying kind, like injecting ads in between content I am trying to view. SN does it right ... the ~jobs is advertising, but I'm OK with that form of it ... it's there for me to click but it isn't stuffed down my throat.
The problem with getting to what I'ld like to see is the network effect existing platforms have gained. FB didn't gain its monstrous userbase overnight, and that was acquired after a huge amount of capital was expended year after year to build the dopamine inducing platform that captures people's attention yet today.
Facebook users aren't there to make $$$. They're paying for a service with attention instead of cents or sats. Some people find value in ads. It's how they discover new solutions to their problems. It's not necessarily a market that's ripe for LN to eat away at. Both models can coexist but it's yet unproven that LN can compete at a meaningful scale.
Facebook users also aren’t there to see ads.
But as long as that is the game social media platforms play, there is an opportunity for someone to come along and offer users financial upside.
The real winning approach here IMO is to offer opt-in ads, where users get paid if they want ads (because their attention is valuable), and suffer no mental costs of sitting through ads if they don’t want them.
I agree that it’s unproven Lightning can compete at a meaningful scale, but this is true for all Lightning applications, not just social media.
I really would love to know how much Facebook earned on me throughout my lifetime.
It for sure is more than the advertisers would have payed for me watching the ad specifically...
same here. i suspect the variability on earnings is pretty high, so wouldn’t be surprised if FB was earning $1k/year by showing ads to young, affluent people living in NYC or LA.
and don’t forget, that’s only one app. Add in Twitter, Spotify, Google, Pinterest, Snapchat, etc… and the real number is more than double.
When will everyone realize none of these social media oligarchs are for you! Quit buying into their game
And Owned by jews.
Of course. :)