The world will "dramatically" change in the coming 10 years as Web2 giants such as Instagram or Meta will no longer be in charge. At least Instagram CEO Adam Mosseri believes so. During a recent speech at TED Talk, Mosseri described a vision of what the world will look like after the "dramatic shift in power" will take place.
Mosseri says in the coming future creators will remove the need for a "middleman" in the form of large social media platforms. He said:
Today, creators are too dependent on too few platforms and our role as platforms has to change.
While Mosseri didn't say particularly that Web2 companies will stop existing at all, he noted that all platforms "will understand the value that creators create."
The Instagram CEO confessed he personally is seeing such a transition as a "really good thing," because over the long run Web2 companies will also benefit from creators' progress.
The more art there is, the more there's an exchange of ideas, the more creativity there's in the world, the better off we all are.
He later went on to say that the technology of blockchain is the brightest example of how power is shifting "from those who've historically held it, to those who have not." Although Mosseri didn't go on to say that most of the current crypto-and-blockchain startups — or even non-custodial wallets— are basically the same intermediaries, he said there's "an opportunity" in blockchain to help creators establish "direct financial relationships with their audience independent of any platform."
No more stability in careers
Mosseri went on to add that on a five-year time view, the blockchain technology might become a fundamental basis for creators to directly own their relationship with their followers, avoiding intermediaries such as Patreon, Substack and YouTube.
However, such a technological evolution will also bring volatility to the labor market, Mosseri admitted, adding that the current young generation is unlikely to see the stability in careers "that our grandparents saw."
One way or the other, the blockchain as a technology will bring a chance to everyone to receive investments from all people around the world to back their ambitions in exchange for whatever creators and their investors will agree upon. He said:
And in doing so, you'd be giving your audience the opportunity to share in your success, to buy a share, to build equity in the creator they know, love and trust.
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