Sunday Seven: payments, pops and lols

I’ve been out for part of the week, speaking at a Digital Media Congress in the north of Spain on new media business models, so this round-up is a bit choppier than usual.

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Are payments necessary? – by Christoffer O. Hernæs, via TechCrunch

One of the purposes of the aforementioned conference was to explore ways that media can become and stay profitable, which is more and more difficult in this age of dwindling print revenues, resented paywalls and online ad blockers. Could invisible payments be part of the answer?

“In the future, there will not be one universal way to pay as we are used to with traditional cash and plastic cards. Payment options will be context-based, and in many cases payments will become “invisible” and integrated into services.”

Uber, Amazon’s Dash buttons, restaurant apps – platforms in which you don’t even have to pull out a credit card are carving out an ever-larger niche, in which payment becomes synonymous with experience and the concept of value changes. How can we incorporate this into media?

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How ‘LOL’ Became a Punctuation Mark – by Megan Garber, for The Atlantic

An excellent article on the mutability of language and need for humanizing punctuation. Seriously, read it. It’ll make you laugh, nod sagely, possibly weep and definitely think twice about the abbreviations we think convey emotion we’re not really feeling.

lol nothing matters

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Startup funding is drying up and fintech is no exception – by Ian Kar, for Quartz

More popping of bubble stuff.

via Quartz

via Quartz

And it seems like fintech is the next sector the media is gunning for.

“Meanwhile, traditional financial institutions say they can best startups by digitizing their own businesses. “I think the banks are pretty good at using digital technology to make it easier for customers…It will be a challenge for anyone to be better, faster, cheaper than us,” JPMorgan Chase CEO Jamie Dimon said in a recent interview with Bloomberg.”

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The Thing About Cycles – by Michael Eisenberg, via TechCrunch

An anti-anti-bubble piece. Bubbles are opportunities, especially when they pop.

“Just like Unicornism was a herd, and the up market in late-stage funding was a herd, as pessimism grabs hold, it too will become a herd.”

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(I featured this in my bitcoin roundup this week, but it’s also applicable to tech in general.)

My Wet and Wild Bitcoin Weekend On Richard Branson’s Island Refuge – by Hannes Grassegger, for Motherboard

via Motherboard

via Motherboard

Envious?? No, of course not.

Apart from descriptions of the amazing sunsets and drunk lemurs, the article does raise some interesting ideas:

“Poverty, according to the theory that brought [Hernando] de Soto international fame, is not exploitation, but exclusion. In other words, people are unable to participate in capitalism because they have nothing to bargain with. Slum residents, for example, build huts but cannot own them, as there is no place and no law that will register them. If they had some kind of official paper, a certified claim to the property, a title, the hut would be worth something. They could sell it, or take on debt to start a business. To raise people out of poverty, therefore, their valuables must somehow be linked to them as individuals. They must have property rights.”

Enter, you guessed it, the blockchain.

“The blockchain would, in essence, allow capitalism to more fully move into the realm of the internet. This has always failed in the past, because in digital environments, everything is so easy to copy. Therefore nothing is scarce, which is why digital content, like music, images, and text, is almost always free, or extremely protected. The blockchain’s comprehensive ability to allocate each piece of code within its system could completely eliminate the possibility of copying a song, for example, because who has which digital copy when would be traceable. A digital magazine based on the blockchain system would have unique copies, just like a printed magazine. It could be bought and sold like a physical object.”

An insight into the power that is either all-in or poking around the bitcoin space, this article leaves you with the feeling that the sector is disorganized, creative and the harbinger of a new world order. Perfect fodder for an elite meeting on a tropical island.

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Reimagining Money – by Douglas Rushkoff, for The Atlantic

I am a fan of the concept of bitcoin (and write about it here), but love that this article shows some other currency possibilities and how their value goes beyond that of simple exchange.

“In important ways, Bitcoin transposes some of the shortcomings of traditional currency onto the digital realm. It ignores a whole host of questions about the potential to reimagine what money can be designed to emphasize: What sorts of money will encourage admirable human behavior? What sorts of money systems will encourage trust, reenergize local commerce, favor peer-to-peer value exchange, and transcend the growth requirement?”

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Reparations, One Meal at a Time

Have you seen this? If not, take a look, it’s an excellent send-up of the startup pitch: Equipay  – Comedy Hack Day SF 2016 Grand Prize Winner

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Stuff I really enjoyed this week:

Aimlessly wandering around the breathtaking beauty of northern Spain. Stunning. Nice people. Good food. Great hotel (Real Posada de Liena, in Murillo de Gállegos). Really lovely.

murillo de gallego

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