At some point, the internet became a get-rich-quick scheme.
There’s a simple formula to it: Smart people with good ideas receive millions of dollars to build something. If that something generates billions of dollars, it is a success. If it does not, it is a failure.
Such “failures” include: Twitter, Soundcloud, Vine, Reddit.
At varying times, each of these companies had the hallmarks of “success”millions of engaged users, venture capital money, a good brand. Now, Twitter is limping along, Soundcloud is in a death spiral, Vine is gone, and Reddit is still trying to figure things out.
They suffer from the same problem as the other community-driven websites on the internetthey just aren’t great at making money. This might be fine if not for the sad reality that these are some of the best things on the internet. These are the platforms that have fostered creativity, given birth to internet-native humor and music, and, with regard to Twitter, changed the world.
Not that you’d know it from the way Twitter is covered. Donald Trump’s favorite microblogging service announced that, yet again, user growth has stalled. Meanwhile, the company is having trouble making any real money from advertising, which in the growth-obsessed, free-by-default world of the internet remains the dominant model.
This is Twitter’s problem, but it’s also everyone’s problem. The internet, once a decentralized mess of weirdness, is now well on its way to being an oligopoly in which anything that’s not Facebook, Google, or Amazon can’t compete. It’s a situation that conjures up the famous scene from “Glenngarry Glen Ross” first prize is a Cadillac, second prize is steak knives, third prize is you’re fired.
By some measure, this is life. Call it late-stage capitalism or natural selection. The strong eating the week isn’t new, it’s just more efficient on the internet. The optimists about the situation see this as creative destruction that pushes forward humanity.
That all sounds good but it’s hard to square with what’s happening to the most creative and impactful platforms on the internet. Tumblr, a bastion of internet community if there ever was one, was so hard to monetize that Yahoo ended up declaring $700 million in loses related to its acquisition.
Tumblr’s struggles are matched only by Soundcloud’s ongoing implosion. Once a bright spot in the internet’s otherwise dark history with music, the platform took a turn once it tried to start making money.
Maybe it’ll survive, with a little help from Chance the Rapper, who blew up on Soundcloud.
Even Google has had trouble with this. YouTube is arguably the best creator-driven platform on the internet, yet even Googlemaybe the best company in the world at selling adshas struggled to really make it work. YouTube has been pushing into high-end content, subscriptions, and even a TV bundle.
Reddit is probably the most engaged community in the history of the internet. And nobody can figure out how to make money without ruining it.
Then there’s Vine. RIP. Its creative class still resonates through the internet. In its heyday, no platform fostered a more ridiculous and original scene.
The grandaddy of them all is Wikipedia, still the internet’s crowning achievement. Its community-based information aggregation stands out as an accomplishment for humanity, arguably one of the wonders of the worldand it makes no money.
That’s the key here. Wikipedia is and has always been a nonprofit. From its start, there was never any sort of bend toward figuring out how to make money. Certainly Wikipedia needs some money to remain in operation, which is raised by the Wikimedia Foundation
Of course, Wikipedia could have been monetized. Its cofounder Jimmy Wales still gets asked why he didn’t. Who knows what it would look like if he had. We should all be thankful that he didn’t.
The dark side of this issue is, of course, that people are terrible. Twitter and Reddit and all of these platforms have plenty of value, but they’re also rife with the ugliest parts of humanity. This is part of the reasons they are terrible at making money. Advertisers quite understandably don’t want their valuable brands next to hate speech.
And advertisers dictate much of what is and is not a success on the internet. Ads remain the dominant form of business on the internet, though subscriptions are gaining ground. Facebook and Google dominate this ad market, and the scraps they leave behind aren’t terribly appealing.
“Upon further reflection, its clear that the broken system is ad-driven media on the internet. It simply doesnt serve people. In fact, its not designed to,” wrote Ev Williams, cofounder of Twitter and Medium, in a post announcing layoffs at Medium.
Williams has long been an advocate that quality and depth on the internet will win out. He may still be proven right, but for now, Medium has been forced to pivot toward a subscription model.
There’s some reasons to hope. The growth in donation-based programsmost notably Patreonpoints to a future in which the internet might be able to eschew the trappings of big money and big profits. Other platforms have begun to see success with similar programs, most notably Reddit with its Gold.
Maybe this is the start of the internet’s answer to the question of how it can create sustainable platforms that exist to serve communities rather than provide the same services as before. Facebook is well on its way to becoming TV (despite recent talk about community). Amazon sells us stuff. Netflix is, again, more TV. They’re great, but they’re just a better version of what we had before.
If that’s all the internet is to be, well then that’s very sad. There’s been a ton of great things on the internet, and people are just getting started. What’s going to matter going forward is that it doesn’t devolve into a giant pyramid scheme. Money is important, but it can’t be everything.
And until a better way comes along (if it ever does), the best things on the internet are going to suck at making money. Turns out it’s a feature, not a bug.
More From this publisher : HERE
If you like our content help us with a share… or two …
Also - I have some free stuff for you .......
Nr 1. In This FREE Report you can Discover:
Secrets to acquiring the freshest, hottest leads via YouTube In-Stream ads quickly and easily! Best secret tips for the most effective targeting for your ads! Totally legal, but little-known method for literally stealing traffic from your competitors! Get more traffic to your videos and landing pages without spending a fortune! And much more - all within this special FREE report!
Nr 2. Did you know you can Absolutely EXPLODE YOUR EMAIL LIST FOR FREE with UNTOUCHED offline sources?
Nr 3. The #1 secret to becoming an affiliate superstar - Earn your first $100 online – without a dime to invest.
If you’re still looking to “make it online – I have just the thing for you. It’s a video series that shows how to make your first $100 online – even if you don’t have a dime to invest. Yes – nothing. Free. Nada. Is this possible? You bet. It’s the most powerful system used by those “in the know”. Good things don’t have to be difficult. And they don’t only come to those who wait. Have A Look
Nr 4. Top 10 Email Marketing Mistakes. Which of these mistakes do you make?
Nr 5. You can learn about : The hottest social networking site that will send an unlimited stampede of traffic to your site - for FREE! How to quickly locate a swarm of hungry buyers using "information portals"! The fast and easy way to use simple images to siphon targeted traffic, on command! Learn how to get the most possible traffic from Instagram, and make sure that traffic converts! And much more ...
Nr 6. It’s no secret… Facebook is an incredible place to get tons of free, viral traffic. But… most people are going about it all wrong. How many of these mistakes are you making? Download the free report to find out.
Nr 7. Special free report . It's called "Operation Midas Touch" and you can download it here...
The report features a surefire method for generating at least $1000 per week online,without a website or product of your own!
Nr 8. Instagram is still one of the hottest ways to get a LOT of traffic fast. All by sharing images. Sounds easy enough, yeah? Well, yes and no. If you want to really start driving a lot of traffic and making sales using Instagram then you should download this report.
Nr 9. When it comes to creating a product online there are so many ways to approach it. Wouldn’t it be great to just get the meat of it all so you can get started faster? Well, the good news is, today you can download a guide called the Product Creation Formula Quickstart Guide. It’s as the title suggests - a Quickstart guide. You’ll get a list of action steps to take right away. Download your copy today !
Nr 10. Would you like to finally USE all of that dusty PLR you have sitting around on your harddrive? Or maybe find the resources for the best PLR available - at the best prices? What about how to use that PLR to make you money with just a few minutes of work. Well, you’re not going to want to miss this!
Nr 11. Buzzfeed’s top post has more than 21 million views. Think about that for a sec… ONE of their articles has had over 21 million people who have read it! And they have thousands of articles... what would you do with that kind of traffic? A friend of mine hacked their method and was able to use it to get 11,592 targeted new subscribers in 2 weeks on their very first attempt!
Nr 12. Push notifications are one of today's hottest trends in website traffic and conversions, and for good reason. Studies have shown that as many as 40% of people will opt-in for push notifications, which is about TEN TIMES the rate of people who opt-in for emails! That’s huge! Not only that, but they're also highly effective at pulling clicks, as well. Some studies have shown CTR at an average of around 40%, with highs of as much as 80%! Again, that’s huge!
Nr 13. Would you like to know how to get more money from the exact same number of website visitors you’re currently getting? Even if you’re website is getting as few as 1-2 visitors a day, this report will show you how to increase your profits using these few handy hacks.
Nr 14. People have now realised that it's not the size of the list which matters, it's the quality. ... and the only way to create a quality list is by launching your own products. Let it be $7 ebooks, $17 info products, $27 video training product or software's... all of these work. My good friend Kevin Fahey has is revealing how he's launched over 20 products in the past 4 years, many of them top sellers. Needless to say he's banked a handsome amount in this time.
Nr 15. Do you ever feel that the man you like or even love, just doesn't see you or desire you in way you want him to? Or... maybe you're able to get a man's attention though not the right kind of attention? Or... maybe you're still single because you wait and wait for men to approach you first? What you may not know is that the way we flirt will either attract the "wrong" man for us or the "right" man.
Nr 16. When it comes to getting sales and leads online, there is ONE thing that 95% of marketers use... it's called a LIST. My friend Jimmy just released a free book that explains WHY a list is important and how YOU can build your own list. It's available right here (and it won't cost you a penny)
Nr 17. If you have tried everything, and still aren't able to get your Ex back, then you need to pay attention.
Nr 18. What if I told you that you could make ANY woman WANT to do ANYTHING for you? Would you think I'm crazy? Well... what If I told you that you could also make her LOVE every minute of it and come back for more?
Nr 19. I have a special free plugin for you today. It's called "Covert Hover Mini"
This plugin will triple your blog traffic by compelling your visitors to share your images on social media. This is some really clever stuff and it works like a charm. After you grab your free plugin, don't forget to read the free bonus report as it will show exactly how and why this strategy works like crazy.
Nr 20. The days of being able to get away with a basic WP theme and a pic or two are gone, your site needs to look good. Even Google are looking for you to have engaging graphics on your site. But getting good quality graphics made for your site is a pain, AND it will cost you both time and money (if you outsource it). But I have a special free download for you today. A virtual treasure chest of over 21K profit pulling graphics you can start sing today to generate more traffic & sales!
Nr 21. 20 professional full HD background videos. These background videos are perfect for giving your videos that extra kick they need to stand out from the crowd Oh yeah they are in full 1080p HD too, I hope you'll enjoy them.
Nr 23. No doubt, you've seen all of the video launches lately! There is a reason for it... Video marketing is a GREAT way to make money, and with the recent creation tools making it super accessable for anyone to get started... It's no surprise that more people are making videos. However... there is a missing element to most video marketing products...
Nr 24. For the first time ever... You can get the straight scoop on how someone is selling over $1,000,000/year of t-shirts on Facebook!Use them .... and have fun !