Maybe Capitalism Can Save Social Media
Its like fighting two evils but putting them to fight each other. (Also asking for a brainstorming session look at the end )
The biggest problem in social media might be the amount of false information out there. The media has certainly changed big time! No one reads newspapers anymore and it has become a norm to be lazy in finding information to know if its true or not. But hear me out about this big brilliant idea I have had.
It all came from this interesting CIA experiment that took place some years ago. They made a website where people can bet on issues of global politics like if Yasir Arafat will die from suicide bombing of if he will die in the next few years. These were incredibly accurate at predicting and getting right information.
Right now our biggest challenge is getting the right information. Now imagine this everyone in social media had 50 facebook dollars(hypothetical money) and they could bet on the information. They could bet on information shared and if they are better wrong/right they will win the dollars back or not.
‘Studies have shown that markets are extremely efficient, effective timely aggregators of dispersed and even hidden information often better than expert opinion’
For us to care about the information we must therefore hit where it hurts the most. In the pockets. And of course, social relations can be what they are but if someone let's say shares content and it's false someone can bet against it and if they site proper sources they can get away with the money. With the Facebook money, they win they can easily do something. Like enjoy a good meal or something or buy emojis. The best way to stop spreading rumors is to make the right information profitable.
And we should let the market figure things out by itself. I am planning to do this short experiment in my studies as they start I hope some of you will find this experiment worth it.
Lets have a brainstorming at the comments so we can figure this one out and maybe there are some cooler ideas out there too