“Could social networks have chosen to keep likes and other such metrics about posts private, visible only to the recipient? Could we have kept this social capital arms race from escalating? Some tech CEO’s now look back and, like Alan Greenspan, bemoan the irrational exuberance that led us to where we are now, but let’s be honest, the incentives to lower interest rates on social capital in all these networks, given their goals and those of their investors, were just too great. If one company hadn’t flooded the market with status, others would have filled the void many times over.” A fascinating take from Eugene Wei.
There was no holding back the river. Like-culture was going to happen whether it was Facebook, Instagram or Twitter that took us there.
What comes next? And what can we do to mold it in a way that works better for our humanity?