Comment on Letsbuy Central

manxu@piefed.social ⁨3⁩ ⁨weeks⁩ ago

That is a really good idea. I think we saw something similar already happen, in the coordination of the whole RobinHood / GameStop event. In that case, Reddit functioned as the “trusted platform” you are talking about, and I think it failed massively at the trust piece in the long run.

It all fits nicely into one of the problems of Capitalism: it used to be really hard to find capital, but easy to find resources and labor, so the economy was logically structured around capital. The reason capital was hard to come by was lacking information flows: it was hard to connect sources of capital (people with money) with sinks (projects, like factories). That’s easy now, so it’s time to restructure the economy away from capital as its controlling interest.

We are starting to see the long con of it all: on social media sites, the value is almost entirely in the labor (people participating, content creators), but the control is all in the capital (site ownership). That’s the reason why social media sites eventually fall apart, because control and value are misaligned.

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