What is So Good About the Ownership Economy?by@lijin
753 reads

What is So Good About the Ownership Economy?

July 10th 2022
15 min
by @lijin 753 reads
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Thirty years into the development of the world wide web, a handful of companies control most user attention and advertising revenue, with closed ecosystems that hold back innovation by independent developers. The economic interests of the biggest internet platforms are poorly aligned with their most valuable contributors: their users. Ownership has long been embraced by Silicon Valley startups to align incentives among employees through option grants. Still, the vast majority of internet users own exactly 0% of the services they contribute to. Creators don’t own their content, developers can’t control their code, and consumers can’t influence the policies or decisions of the platforms they use. This scenario, which once went unquestioned, looks increasingly archaic. This is starting to change via the ownership economy—often referred to as web3—with products and services that turn users into owners.

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