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Attention is Currency in the Economy of Ideas #2995831 06/25/19 06:35 PM
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Anderton Offline OP
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There's been a lot of talk on social media about social media. Facebook, Google knowing every move you make, LinkedIn making more than 60% of its $3,000,000,000 revenue from its division that sells access to user profiles and contact information to recruiters...

So much of social media is "free." But none of this is free, because all we really have to sell, buy, or enjoy is...

TIME.

When I consult to a company, they're paying for the time it takes me to produce the information they need. And SSS is asking you for your time - to read what's going on here, and to participate.

The more I think about this site as the engine revs back up again, the more I realize I'm asking you to pay for being here not with money, but with your time. I respect that. So, I want to make sure that when you participate, you get something in return for your time - knowledge, fun, friendship, self-improvement, a laugh, techniques, life hacks...whatever.

Referring to the thread title, in a knowledge-based instead of a possession-based economy (the transition is already occurring), being able to get peoples' attention to hear what you have to say is as valuable as currency. Before this thread sinks to the bottom of the page, I'd like to thank everyone who views, participates, starts threads, or engages in any way with SSS and the Musicplayer.com forums. I'm glad we got your attention, but now, I want to reward that attention with as much value as possible for your time.

Thanks for letting me rant smile

Re: Attention is Currency in the Economy of Ideas [Re: Anderton] #2995877 06/25/19 09:52 PM
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Thanks, Craig! I always wondered what the hubbub was about regarding "the old SSS" and now I know. I'm digging it. thu


The great thing about music is that there's always something to learn. The frustrating thing about music is that there's always something to learn!
Re: Attention is Currency in the Economy of Ideas [Re: Bone Muskeleton] #2995881 06/25/19 10:16 PM
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Originally Posted by Joe Muscara
Thanks, Craig! I always wondered what the hubbub was about regarding "the old SSS" and now I know. I'm digging it. thu

as am I. smile


A reason why I collect old keyboards is that I feel partly responsible for doing it, responsible for preserving history and being a custodian for these things
Plus, old gear has a story. I like that.
Re: Attention is Currency in the Economy of Ideas [Re: Anderton] #2995890 06/25/19 11:07 PM
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Yes, the old SSS is back, and, well, as far as spending time is concerned, I believe this is going to be a great place to spend time.

Re: Attention is Currency in the Economy of Ideas [Re: Anderton] #2995997 06/26/19 02:06 PM
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Well, I was good at macro economy in highschool (early 80s), and part of my EE grad courses I did a stiff business economics course, So I should be good!

Well, anyhow, I suppose my thoughts go out to the idea that if the scarceness is knowledge, thus knowledge will be mined free from much value if all that people want to know, gets in the range of being considered ubiquitous. Then, maybe the knowledge must become privily available only, and the result of new knowledge mining abilities...

Theo V. (my handle is my real name)

Re: Attention is Currency in the Economy of Ideas [Re: Theo Verelst] #2996046 06/26/19 06:22 PM
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Anderton Offline OP
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Originally Posted by Theo Verelst
Well, anyhow, I suppose my thoughts go out to the idea that if the scarceness is knowledge, thus knowledge will be mined free from much value if all that people want to know, gets in the range of being considered ubiquitous. Then, maybe the knowledge must become privily available only, and the result of new knowledge mining abilities...



A knowledge-based economy is tricky, because how do you know the knowledge is valid? When you see YouTube "pro tips" on recording by someone who's never had any music that charted, that doesn't mean the info isn't valid...nor is the knowledge shared by a platinum album producer necessarily valid.

I think knowledge will be the "raw materials" that a person has, and which can be transformed into something tangible and of value. For example, I know a lot about how to use plug-ins, get good sounds with guitar, etc. Companies are willing to pay me to write up that knowledge for their web sites, and consumers are willing to pay me for that knowledge when applied to something like a multiband preset pack for the Line 6 Helix. So while the knowledge is private, once it's mined, it becomes public as part of a transaction.

Re: Attention is Currency in the Economy of Ideas [Re: Anderton] #2996695 06/30/19 11:09 AM
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I'm glad that works out for you, but generally, I suggested the world doesn't appear to chose for the "what's on my YT feed" trick!

TV

Re: Attention is Currency in the Economy of Ideas [Re: Anderton] #2997000 07/02/19 05:24 PM
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An example.
First you make software for a common computer platform, and it's really really good, so people want to have it on another computer, and maybe even in a workstation.

So you get attention for your instrument idea, and people "pay" with attention.
Then, there is saturation of the attention, but people who don't care about the product still buy the software because they have heard the sound is hip. They pay but no attention!

Then, you bring out a video stating your idea and make an Open Source implementation, nobody cares or has attention, or , sorry, lot's of attention! But not payment, because there is gold (the software synth idea), there is attention, but there's no real economy, only free beer, so to speak.

T.V

Re: Attention is Currency in the Economy of Ideas [Re: Anderton] #2997006 07/02/19 05:39 PM
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Anderton Offline OP
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In many cases, attention is sought for its own sake. But attention is also required to sell anything, and in that respect, attention is a crucial currency in a knowledge-based economy.

I'll give an example. I created a set of presets for the Line 6 Helix, and frankly, I think it's really good smile However, there are 10 pages of preset packs in the Line 6 Marketplace! No one will find me there. But, if it gets mentioned in the forums, then it has attention, and people buy it.

With the presets, although it is a product I'm selling my knowledge of the product. It's different from selling a refrigerator, car, etc. where people already know these things exist, and want to buy them. With knowledge-based products, people won't know those things exist without attention.


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