When people say they are building a web3 product to let people "monetize their data" 🚩🚩🚩🚩🚩🚩 https://twitter.com/nikitabier/status/1729895393712832826
ProductMonetization is downstream from attention.
Product
This is super insightful. How is a user's attention market value determined, and should they be paid when choosing to direct it at something?
ProductOne good quote about it from Ben Evans
Product
My understanding was the data is potentially valuable to companies that have your attention in a specific context So for example a restaurant or retailer might be able to segment their loyalty members with “first party” data
Product
I think if the data truly had no value, it would not be collected.
Product
I think it works the other way: Use data to perfect the product, sell the product, grab attention. That’s the monetization strategy. For instance: Unique data -> unique LLM -> unique product.
ProductOldie but greatie -- https://www.eff.org/deeplinks/2020/10/why-getting-paid-your-data-bad-deal
Product
Users will prove this and also all of new products . Let users and time prove .(in my opinion and past experienced)
Product
This Nikita guy seems smart
Product
I agree with your red flag sentiment but to say that data has no value is simply not true. Anyone who ever run a targeted ad can tell you that. That being said the ad is worthless without the distribution method aka engagement.
Product
I shall humbly disagree with the tweet. I pay for LinkedIn premium because it gives unlimited searches on the largest business repository(stored and managed business "data").
Product
What a weirdly authoritative tone in this tweet when counterexamples abound. I purchase vast amounts of mobile user geolocation data to track where people live and roam. There’s an entire industry of freemium apps that makes money not from the mindless entertainment they offer but from selling their users’ data.
Product
monetization should not be initial goal of web3 product, It naturally happens if people likes the product and becomes much easier after adoption
Product
