I wasn't sure whether to put this under Internet Marketing, or Blogging since it covers it all.
It's a great article about the internet economy, social media fame and real world economics. It talks about people's unrealistic association that lots of followers, somehow means lots of money and how many people that you may know online struggle to make ends meet.
She likened trying to get famous through social media to shelling out money for college—in each case, one suffers through hard work and zero-to-negative income in the hopes of a later payout. The difference, Beggs said, is that YouTube is more accessible “because there’s no admissions committee.” The technical term for this is the Dunning Kruger effect, where unskilled individuals believe themselves to be more adept than they are.
“It’s not surprising that the failure rate on YouTube would be higher because people aren’t good judges of their own abilities,” Beggs said. The result is that the market is oversaturated, and subscriber numbers, which rarely make any sense, become the gatekeepers of financial success.
It's a good article.
The sad economics of being famous on the internet | Fusion
It's a great article about the internet economy, social media fame and real world economics. It talks about people's unrealistic association that lots of followers, somehow means lots of money and how many people that you may know online struggle to make ends meet.
Quote:
She likened trying to get famous through social media to shelling out money for college—in each case, one suffers through hard work and zero-to-negative income in the hopes of a later payout. The difference, Beggs said, is that YouTube is more accessible “because there’s no admissions committee.” The technical term for this is the Dunning Kruger effect, where unskilled individuals believe themselves to be more adept than they are.
“It’s not surprising that the failure rate on YouTube would be higher because people aren’t good judges of their own abilities,” Beggs said. The result is that the market is oversaturated, and subscriber numbers, which rarely make any sense, become the gatekeepers of financial success.
It's a good article.
The sad economics of being famous on the internet | Fusion
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