- Banksy
Who knows which products and business models would exist without it? The (actually free, non-monopolized) market would show us. I wish it could and am curious, too.
The real solution is to ban advertising and let the free market do its job, https://news.ycombinator.com/item?id=43595269
Maybe strong anti-advertising laws are in order? No accepting pay to parrot a message, or at least heavily taxing such arrangements if allowed? IMO the only place I should ever see an ad is when I go to some YellowPages directory, like plumber ads when I look up plumbers. There should be a Nutrition Facts like description of costs, service or product description, etc, in lieu of pretty art and slogans for us thinkers. Never should I see an ad on random web pages, billboards, newspapers, entertainment media, etc. Imagine the ills banning advertising would reduce... like the data surveillance & brokering industry!
This is an oddly outdated vision of progress IMO. Indeed a dematerialized economy of "content creation" among other things, where less of the dollars involve "taking things out of the ground" (and dumping them back there), is somewhat utopian from an environmental point of view.
Completely agree about advertising.
I recently loaded up a few dollars on Deepseek to try it out, and the value I got out of it far surpassed my balance lost (tens of cents). If this is a sustainable business model for Deepseek (I'm not sure yet), then this shifts the economics: in this scenario I feel totally fine paying pocket change for something valuable.
We already know google's searches cost orders of magnitude less than serving an AI model, so there is no reason to believe micropayments couldn't work there too. Of course, advertisements make Google a lot more money than micropayments, so they never tried it, but I suspect that while they might not work in all scenarios they are underexplored as a monetizing strategy.
I feel like website owners could band together and along with search engines figure out tiers for people viewing their content (free, minimal fee, larger fee, etc).
And some publishers would choose that, others would form different coalitions and say: get a subscription and you get access to xyz content, just like with streaming etc. It would need cooperation, so maybe the idea is already dead in the water, but the web being the realm of advertising is not set in stone.
The fraction of people who are willing to pay a cent are likely to be willing to pay considerably more. It is much, much more lucrative to get those people into subscriptions, where they will keep buying -- potentially for years.
So for most businesses, they'd likely earn less revenue via micro payments, which means it's unlikely they'll get widespread adoption.
But for this to work, the technology has to be built on crypto micropayments. The total cost and friction of traditional payment systems, including online payment services like PayPal, would make this impossible. I think this is also one of the design goals behind Web3 and Project Xanadu.
I’m bullish on oracles and cryptography-secured monetary systems.