Last night I wrote an article about the impending doom of TikTok in the US, and one of the things I mentioned in there was about the userbase itself. What I have observed is that while the digital native Gen-Z consider themselves technological wizards, who are able to traverse the ether like they are taking a Sunday stroll in the park, and are so open and accepting to new ideas and new ways of doing things - they are bound to the web2, legacy systems.
After writing it, it reminded me of one of the arguments I have heard as to why more aren't on Hive and why many flock to Twitter, Facebook, TikTok, Instagram etc.
Because, that is where everyone is!
And I think that this is a relevant view, for those who are expecting that everything is provided for them. I get it, I do. But at the same time, change requires well, change. Going to where the masses are isn't an indication of creativity and being on the cutting edge, it is a sign of conformity and status quo. And I think this aligns with the mentality I believe the majority of Gen-Z have, which is, entitlement. They expect everything to be provided for them, out of the box, ready. They are not innovators, builders or even early adopters, because they will only "adopt" what is already created.
They want the infrastructure, the audience, the algorithms, and the ad revenue all in place.
Gen-Z might be exploring their gender labels, but when it comes to technology, they aren't exploratory at all. They need the ecosystem provided, because they aren't going to build it, develop it, support it, or invest into it for themselves. Their money is spent on entertainment, not ownership, and as a consequence, they are setting themselves up to be life renters.
In the next decade or two, tens of trillions in personal wealth is going to be transferred from the old to the young. All the boomer wealth the younger generations complain of bow, will end up in those hands, as well as the houses the elderly own outright. Suddenly, many who are currently struggling, are going to find themselves wealthy. But with the mindset they currently have, most of them will lose it all in short order, as they finale the entertainment platform owners, as they haven't built or invested for themselves.
Wealth itself is rather meaningless, as the value is in the opportunity it buys. We all spend for pleasure in sone way, but when our spending outstrips our income, we are going to bleed our wealth, and if it continues, we will bleed out until there is nothing left. And where it goes matters, because decisions get made on the economy, and the economy is stake-based. Not as precisely as on Hive, but those with the wealth, make the decisions.
The masses matter.
In the current economy, wealth I equality is so great, that the average person feels they can't do much to affect it. But, look at TikTok, the reason it is so successful, is because of the masses. 170M users in the US alone, but just imagine if instead of all jumping on the centralized bandwagon, they supported a decentralized platform instead. Essentially, they could have a similar experience, except they could also own it. Yes, at least at first it would be unpolished and development would take time, but the lore they used and supported, the more demand, abd where there is demand, there is supply.
I am obviously biased in my views, but if the currently voiceless consumer changed their user profile, everything changes. Not just the platforms for entertainment, but the entire economy and, the role of governments. If the wealth transfer is used to support a shift to decentralized communities, the whole value proposition of business changes, and centralized practices will have to conform to the shift, or become extinct.
It seems so easy.
The problem of course is that people don't want to change, so they keep supporting what they know, what is convenient, what cones for "free", even though it is costing them their future potential. The younger generation who claim to be more social, want to be included in the communities, but don't actually want to take any responsibility for creating, building, or maintaining them. They want membership and expect support, but don't want to pull their weight.
And no, it isn't just the young. This plague of renter mindset is steadily working it's way up the generations. This is because the economic system is speeding up its concentration of power, which compounds to speed it up again. Everyone is getting crushed, whole the narrowing peak climbs ever-higher.
The collapse will come.
And when it does, how many will be willing and able to buy the dip?
Taraz
[ Gen1: Hive ]
