Connect with us

Entrepreneurship

Your Second Job as a Facebook User

Published

on

Many of us have a second job. We steal time from our family, from our employer and from our hobbies in order to work on it. It doesn’t pay anything, in spite of the tremendous amounts of creativity and time we invest in it. Somehow, we convince ourselves it’s worth doing (perhaps because we know everyone else is doing it too).

I’m talking about your second job as a Facebook user. Or maybe it’s a Twitter, Google+ or LinkedIn contributor. I’ll concentrate on Facebook though, since so many of us use it. According to Mark Zuckerberg, “people on Facebook in the US spend around 40 minutes each day using our service.” So, it’s really just a part-time job. We do it for a little over four and a half hours a week, on average; some of us obviously much more, and some of us much less.

We don’t get paid for these hours, so really it’s more of a volunteer gig. Except that, in this case, we’re not really doing it for a charitable, nonprofit organization, but for an entity whose net profits were $1.5 billion last year and whose revenues are now growing at around 55% a year.

The Exchange of Value on Facebook

But we all get something from all that time we invest in Facebook. There’s value there, or we wouldn’t be doing it. We get to stay up on what our friends are up to and keep them informed on our latest puppies, trips, anniversaries and even our little rants and raves over the news and other stuff. Despite how easy it is to make fun of our addiction and our time spent there, it’s actually a very valuable service.

The same could be argued for watching TV – and we still actually spend a lot more time there. As hard as it is for me to believe, Americans spend some five hours a day watching TV, on average.

With TV, we play a critical role as watchers of the stream of content and the advertising neatly tucked between the crevices of what we actually want to see. Without our eyeballs, there’s no advertising revenues. As media consumers, we play a critical role the value proposition to the actual customers: – the advertisers.

This is true with Facebook too, but there’s also a critical difference because, with Facebook, I’m not just consuming the media, I’m also creating it. In fact, without you, me and the billion-plus other nodes in that network, nothing would flow through it.

I’m telling you this like it’s news or something. But it’s not, of course. We all know that it’s ourcontent that makes Facebook, LinkedIn, Google+ and Twitter actually work, but somehow, we’ve convinced ourselves that contributing all this time and energy for free is absolutely normal.

But is it?

Facebook Users: the Value of Volunteer Labor

When you look at the market capitalization of media firms, you see that new media is valued much more highly than old media. Take the total value of outstanding shares of a company and divide it by its revenues, and you end up with a ratio that can help show the market’s expectations of these stocks (I use revenues versus earnings because LinkedIn and Twitter still have negative earnings, and because revenues are less easily manipulated than earnings).

Market Cap to Revenues

Most of what this chart shows is what you’d expect to see in any comparison of growth stocks vs. more mature stocks: the market anticipates growth into the price of the stock, and the law of numbers dictates that it’s easier to grow from a small number than a larger one.

And yet, what if there were a class of media properties that were just intrinsically more profitable than others because of the way that they were built? What if a media firm designed itself to no longer rely on paid employees to produce content? What if it could automate the outsourcing of this work, not to developing economies, but to end users?

A firm like this would still have employees, but most of them – certainly the highest paid ones – would be extremely technical software engineers charged with building the technological platforms needed to enable end users to contribute free content.

A company like this could be extremely profitable, especially if it built sufficient critical mass to be the go-to place for end users to contribute content and know it would be seen by others. This is exactly what we’re seeing with our newly emerging media titans, and it’s a bigger pattern of technology: displacing jobs, increasing profits. I cover this shift in media in more detail in “A Pattern Language for New Media.”

It’s Our Decision

This isn’t just about Facebook social sharing. The Huffington Post operates a version of this, using bloggers for its workforce, and now LinkedIn has perfected that approach with its new, and fast-growing, bureau of Long-Form Posts writers, a number of whom are quite good.

______________________________________________________

About the Author

This article was written by Gideon Rosenblatt of The Vital Edge. Gideon ran an innovative social enterprise called Groundwire for nine years. He worked at Microsoft for ten years in marketing and product development, and created CarPoint, one of the world’s first large-scale e-commerce websites in 1996. The Vital Edge explores the human experience in an era of machine intelligence.

Entrepreneurship

Women on Top in Tech – Espree Devora, Creator, Podcast Producer, and Host at WeAreLATech.com

Published

on

(Women on Top in Tech is a series about Women Founders, CEOs, and Leaders in technology. It aims to amplify and bring to the fore diversity in leadership in technology.)

Espree Devora is known as “the Girl who Gets it Done”. She created WeAreLATech.com, a hub for entrepreneurs to connect to resources in the Silicon Beach community, which hosts the 1st podcast focused on LA Startups. She is also a podcast Producer and Host of the show, Women in Tech Podcast. The purpose of the show is for every listener to walk away feeling ‘If She Can Do It So Can I’. She calls it “actionable empowerment”. In 2017, Espree was listed by Inc Magazine as top 30 Women in Tech to follow.

What makes you do what you do?
Being an entrepreneur is in my blood. Some days are epic highs. Others are incredibly uncomfortably low. It’s not an easy day to day life, but living with a sense of purpose is an extraordinary gift.

How did you rise in the industry you are in?
Being myself. Pushing through my fears to be positively vulnerable. To live as though I am always mentoring even though I may not know who’s paying attention.

Why did you take on this role/start this startup especially since this is perhaps a stretch or challenge for you (or viewed as one since you are not the usual leadership demographics)?
I’ve always loved media production. It’s a creative art form that can have long lasting positive effects on the audience who absorbs the content I create.

Do you have a mentor that you look up to in your industries or did you look for one or how did that work? How did you make a match if you and how did you end up being mentored by him/her?
I do now have a mentor I look up to to be my most powerful self. We met at a conference and we speak regularly to work past my self-limiting beliefs and to build an abundant life, both spiritually and professionally. My mentor’s name is Debra Hockemeyer.

Now as a leader how do you spot, develop, keep, grow and support your talent?
I seek out integrity and a moral compass code. I want empowering solution mind teammates who value our company culture.

Do you consciously or unconsciously support diversity and why?
Yes, because we’re human.

What is your take on what it takes to be a great leader in your industry and as a general rule of thumb?
Lead with vulnerability, let your audience share in the progression of your journey.

Advice for others?
Your “intuition is your oracle”. Walk your own path, don’t try to be someone else. They had their journey so it’s time for you to create your own journey now.

People crave connectivity, not celebrity. So rather than trying to look big, instead focus on creating immense positive impact in each person’s life (be it customer or partner or friend)

My Mom always says every “No” is one step closer to a “Yes”.

We want to continue to build connective technology, produce meaningful media and create unique offline experiences in the startup space to move people from online digital relationships to high quality offline relationships.


If you’d like to get in touch with Espree Devora, please feel free to reach out to her on LinkedIn: https://www.linkedin.com/in/espree/

To learn more about WeAreLATech.com , please click here.

Continue Reading

Callum Connects

Darvin Kurniawan, Founder & CEO of REIDAO

Published

on

Darvin Kurniawan is impressed by blockchain technology. He believes it will change the way we live in the not so distant future. His business, Crowdvilla.io is using blockchain technology to change how society owns assets.

What’s your story?
I was trained in computer science and I went on to appreciate the many facets of business. I delved into multiple industries, which equipped me with the many skills to become a ‘jack of all trades.’ This allowed me to see things from various points of view and to identify opportunities and potential risks.
I heard about bitcoin for the first time in 2011. It was very difficult for me to understand back then. I revived my interest in blockchain technology near the launch of the second most popular blockchain, ethereum and I have been involved ever since.

What excites you most about your industry?
Blockchain has a real chance to change how we live as a society. This is not just as a business or start-up, but a way of life.

What’s your connection to Asia?
My grandfather came from China to Indonesia. I was born in Jakarta, Indonesia. I moved to Singapore for university and have stayed here since then.

Favourite city in Asia for business and why?
Singapore, for its efficiency, and very clear rules and regulations. Not to mention the relatively competitive tax rate.

What’s the best piece of advice you ever received?
“Just try it out.” So simple, yet many fail to appreciate the fact that surveys and questionnaires sometimes just don’t work.

Who inspires you?
Nassim Nicholas Taleb, a writer. He inspires me because of his ability to see things the way they are. He articulates points that I knew existed, but I couldn’t explain. That’s what makes me drawn to his writing.
Basuki Tjahaja Purnama (Ahok), a politician. He is able to say what’s right, no matter what!

What have you just learnt recently that blew you away?
A blockchain AI project by SingularityNET. It’s going to change how we live if it goes mainstream.

If you had your time again, what would you do differently?
I would have been more persistent in my endeavours. I learnt the hard way. In many cases, what was needed was time.

How do you unwind?
I frequently take a long stroll.

Favourite Asian destination for relaxation? Why?
Lombok, Indonesia. It’s not as crowded as Bali, with similar, if not better beaches. It’s perfect for a quiet time and a short getaway.

Everyone in business should read this book:
Antifragile: Things That Gain from Disorder by Nassim Nicholas Taleb

Shameless plug for your business:
It’s more than just a business. It’s a movement. Crowdvilla.io is changing how society owns assets. Through blockchain technology and the ability to create digital assets, we can create digital assets that mimic and govern a real estate utilization model.
Imagine if there was a hotel chain where the buildings or assets were owned indirectly by the community, and the hotel’s mandate was to make itself available for the community to use. Removing all the middlemen, we can immediately give better value to the community.

How can people connect with you?
[email protected]

Twitter handle?
@darvink

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

Continue Reading

Trending