Nostr Web Client

I think the issue with value 4 value is that it adds up quickly and becomes expensive in a sense that people are not used to that kind of spending.

The advertising model can afford to spend more as sellers make it back in profit.

Value 4 value shifts the “burden” to every user. I don’t know if this is a workable model 🤷‍♂️

Something tells me it’s not.

Thoughts?

JeffG 2y ago

I think that you're right that it's going to be a hard pill for users who are used to the ad funded model of the last 15 years.

That said, I believe many (most?) recognize now the tradeoffs of "free" services.

IMO, V4V wins if users feel some sort of connection to the creators/providers that they use.

The other thing that I believe is that the V4V model, when combined with open protocols, will result in far fewer mega-corps and a return to a large number of smaller businesses all doing well, but none becoming completely dominant.

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Discussion

HoloKat 2y ago

It would require many loyal fans with connections to creator probably. 🤔

Zach 2y ago

Right, and I think this points out the weakness.

There’s only a finite pool of “fans”, and manipulating their attention is the value-added that centralized SM provides creators. It’s abstracting away part of the process that V4V would require from the creator themselves.

Also, fracturing this finite pool of consumers (I expect, though maybe I’m wrong) would drive the median profit down.

JeffG 2y ago

Maybe, maybe not. If you're not familiar, check out Kevin Kelly's 1000 true fans: https://kk.org/thetechnium/1000-true-fans/

I agree that "creators" in the current, narrow, big social media definition probably would rather spend time trying to game an algorithm but ask yourself if they're actually creating anything of real value.

For people building things that bring value, it'll be a slower process but I believe that builders will definitely be able to build solid 6 or 7 figure incomes via V4V (or as it's been known for most of human history, running a small business).

HoloKat 2y ago

How’s 1k true fans any different in a subscription model from v4v? If they are dedicated to you, they’ll pay.

JeffG 2y ago

In that sense, it's not really different, in a good way. We have lots of evidence of people paying via subscriptions for services they value. So streaming that money in a more granular fashion should feel more fair.

JeffG 2y ago

It's a bit like going from mobile phone bills that used to be billed at some set amount of usage in big blocks (easy to over pay), to paying by the minute in 1 minute increments. It just feels more fair and consumers are more in control.

HoloKat 2y ago

Until you go back to unlimited just to nostr 😂 😂

nobody 2y ago

Honestly zaps are most akin to bits on twitch. There is precedent for fans to support this way but it has only been successful in combination with a steady recurring support like subscriptions.

Zach 2y ago

Thanks for the link! I wasn’t familiar with it at all