Last night I wrote an article about the impending doom of TikTok in the US, and one of the things I mentioned in there was about the userbase itself. What I have observed is that while the digital native Gen-Z consider themselves technological wizards, who are able to traverse the ether like they are taking a Sunday stroll in the park, and are so open and accepting to new ideas and new ways of doing things - they are bound to the web2, legacy systems.
After writing it, it reminded me of one of the arguments I have heard as to why more aren't on Hive and why many flock to Twitter, Facebook, TikTok, Instagram etc.
Because, that is where everyone is!
And I think that this is a relevant view, for those who are expecting that everything is provided for them. I get it, I do. But at the same time, change requires well, change. Going to where the masses are isn't an indication of creativity and being on the cutting edge, it is a sign of conformity and status quo. And I think this aligns with the mentality I believe the majority of Gen-Z have, which is, entitlement. They expect everything to be provided for them, out of the box, ready. They are not innovators, builders or even early adopters, because they will only "adopt" what is already created.
They want the infrastructure, the audience, the algorithms, and the ad revenue all in place.
Gen-Z might be exploring their gender labels, but when it comes to technology, they aren't exploratory at all. They need the ecosystem provided, because they aren't going to build it, develop it, support it, or invest into it for themselves. Their money is spent on entertainment, not ownership, and as a consequence, they are setting themselves up to be life renters.
In the next decade or two, tens of trillions in personal wealth is going to be transferred from the old to the young. All the boomer wealth the younger generations complain of bow, will end up in those hands, as well as the houses the elderly own outright. Suddenly, many who are currently struggling, are going to find themselves wealthy. But with the mindset they currently have, most of them will lose it all in short order, as they finale the entertainment platform owners, as they haven't built or invested for themselves.
Wealth itself is rather meaningless, as the value is in the opportunity it buys. We all spend for pleasure in sone way, but when our spending outstrips our income, we are going to bleed our wealth, and if it continues, we will bleed out until there is nothing left. And where it goes matters, because decisions get made on the economy, and the economy is stake-based. Not as precisely as on Hive, but those with the wealth, make the decisions.
The masses matter.
In the current economy, wealth I equality is so great, that the average person feels they can't do much to affect it. But, look at TikTok, the reason it is so successful, is because of the masses. 170M users in the US alone, but just imagine if instead of all jumping on the centralized bandwagon, they supported a decentralized platform instead. Essentially, they could have a similar experience, except they could also own it. Yes, at least at first it would be unpolished and development would take time, but the lore they used and supported, the more demand, abd where there is demand, there is supply.
I am obviously biased in my views, but if the currently voiceless consumer changed their user profile, everything changes. Not just the platforms for entertainment, but the entire economy and, the role of governments. If the wealth transfer is used to support a shift to decentralized communities, the whole value proposition of business changes, and centralized practices will have to conform to the shift, or become extinct.
It seems so easy.
The problem of course is that people don't want to change, so they keep supporting what they know, what is convenient, what cones for "free", even though it is costing them their future potential. The younger generation who claim to be more social, want to be included in the communities, but don't actually want to take any responsibility for creating, building, or maintaining them. They want membership and expect support, but don't want to pull their weight.
And no, it isn't just the young. This plague of renter mindset is steadily working it's way up the generations. This is because the economic system is speeding up its concentration of power, which compounds to speed it up again. Everyone is getting crushed, whole the narrowing peak climbs ever-higher.
The collapse will come.
And when it does, how many will be willing and able to buy the dip?
Taraz
[ Gen1: Hive ]
Posted Using INLEO
I think you're spot-on about the younger generation expecting everything to be set up ready for them to instantly use it. No need for instruction books, software and devices that aren't instantly intuitively useable are considered sub-standard !
But I don't agree that all the boomer wealth is going to be transferred to Generation X. At least here in the UK, the government (both parties, doesn't matter which side) has fully bought into the WEF idea of "you'll own nothing and be happy... or else". Their view is that all wealth is theirs, and it's about time it was transferred back to state control.
Property prices, property-based taxation and inheritance taxes are rising insanely fast, to the point where most Gen X'ers accept they'll never be able to afford a house of their own and will always have to rent. The average age of a first time buyer in the UK has risen from 24 in the 1970's to 33-35 (depending on region) now. Taxation and old age care costs mean that almost all of the wealth created by the boomers is being transferred to the state, not to their descendants.
Everything has to be out of the box, and require no instruction. Sure, that can be great design, but what does it teach?
I am sure the state wants that money in their control, because of it isn't they will further lose control of the people. Governments are collapsing, yet we keep caring about them, listening to them, abiding by their rules that obviously don't work. We are a strange species.
YOLO! Enjoy your life now! Have a career! Don't have kids! Go to concerts, travel... but whatever you do, don't invest.
I particularly agree with your observation that despite their tech-savviness, Gen Z often defaults to existing platforms rather than exploring decentralized options. The "everyone's there" mentality is powerful, and it's easy to understand why they gravitate towards established giants like TikTok, Meta and other socmed platform.
However, as you rightly point out, this reliance on centralized platforms has significant drawbacks. It reinforces existing power structures, limits individual agency, and ultimately hinders innovation.
Your point about the impending wealth transfer is also quite insightful. The potential for this generation to reshape the economic landscape is immense, but only if they utilize their newfound wealth wisely. Investing in decentralized systems and supporting community-driven initiatives could empower them to truly own their future.
Of course, changing entrenched behaviors is incredibly difficult. The allure of convenience and the fear of the unknown are powerful deterrents to embracing new technologies. But perhaps, by highlighting the long-term benefits of decentralized models and fostering a greater sense of ownership and responsibility, as millennial, we can encourage Gen Z to embrace a more proactive approach to technology.
I think this conversation is crucial for understanding the future of our society. Thanks for sharing your insightful perspective!
The status quo beneficiaries love the compliance of the masses.
Like normal, the 1% will soon control the 50% of the transfer, and the next 10% will control the next 30%.
I wish the millennials would get more involved - most of the people on Hive at least who are making the effort, are Gen-Xers :D
You're right, Gen-X makes a lot of effort making hive possible. Thank you for the unconditional effort you guys exert.
I remember back in the day when Google came out with Google+ I think it was called. It was honestly a far superior product, but so many people were already entrenched in Facebook that it never quite took off. They eventually ended up shuttering it which was a shame.
Yeah, I got on for a bit, but it ended up being too unwieldy and so few were using it exclusively - most were still on Facebook. At the time, I was just interested in meeting up with people IRL and FB was good for organising it. I don't think I have logged in for a handful of years.
The main thing I use Facebook for now is special interest groups. Those have hundreds of thousands of people with lots of good information. I liked how Google+ allowed you to have separate containers for your friends. Like work friends, family, close friends, etc.
I think the reason why people are not coming to HIVE is that:
I think this is one of the problems in the crypto community, where we are looking to be hidden, anonymous, untraceable. It all seems cloak and dagger, conspiracy, scammy - all because we don't trust the governments to do what is right.
The funny thing about the bear/bull cycles is, the more people who participate, the more stable and less volatile it becomes. Come on people - join in!
Well BTC and ETH have ETF funds trading in US now which makes crypto way more mainstream, hopefully we have crypto friendly US legislation under the new administration and a whole year bull run this year and that it would do more for crypto acceptance than all the previous bull runs combined.
Because that is where everyone is
In my opinion, there are some reasons;
And this is what a lot of the other platforms are - just shares of the same crap.
I wonder how Hive would advertise well? :D
Giving ads on centralized social media :)
In the past I tried making let's play videos. But: 1. my spoken english is not great. 2. I was lacking of the things to say. 3. I don't like my voice. 4. Almost no one was watching my videos so I feel than for me it is easier to write about what I play than to speak about it.
The thing is that you cannot force change, they will only learn this by experiencing themselves. Maybe 1% can learn from others mistakes, the rest need to go through it.
As for not being able to change and be comfortable within your generation, this is everyone's curse. When they made the petrol cars first, a lot of people were convinced that the horse carriage would be here forever and the cars will disappear.
We only really need 1%, right? from TikTok, that would be 1.7 million from the US alone.
Normally, the young are the early adopters, but really now, they are just the early users. Like the first drug addicts in the neighbourhood.
As somebody who studied fast learning techniques for more than 30 years, I compare saying that this is like getting sugar cubes, without realizing that you can learn how to bake cakes.
But then I dislike Tiktok and I do not have an account there.
It is unlikely that I would have enough money to buy the dip. So I will not sell what I have.
I am not sure if you are working there, but it is worth having at least a side job that can give a little extra to buy the dip with :)
People really don't want to change. This requires serious willpower and determination. There are many who don't want to take responsibility. Everyone prefers the easier option.
As you said, this is unsustainable and will be a serious collapse. Even if those who are aware are prepared for this collapse, they will also be affected by it.
Money can buy a lot, but when the whole world is filled with poverty on every corner, life experience isn't that great.
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I believe any majority is like that. Waiting to follow some leader — one of a minority. Leaders/builders are a minority.