B.Between ChatGPT and cryptocurrencies, TikTok billionaires and Metaverse real estate, much of the emerging internet economy seems daunting and new. But two very old forces are driving innovation and competition in the digital landscape. It’s money and power. The forthcoming book examines the lives of content creators, the battle for supremacy among digital platforms, the cutting-edge technologies that promise to reshape work and money itself, and explores who wins and loses in this new business landscape. , and how we can change lives as a result.

under the influence

Social media is a central pillar of the Internet economy. Without mindlessly scrolling images and videos, a huge portion of the tech industry’s revenue would dry up. This situation put power and money in the hands of his content creators. Content creators are a new class of entrepreneurs that will be the focus of his two upcoming books.

“Online influence is the most powerful currency of our time,” says Taylor Lorenz. washington post First book Technology Reporter very online, to be published in October by Simon & Schuster. The book traces the evolution of his user-driven web content, from “mom” blogs to his viral TikTok videos, and how the creator has shaped digital culture and forged new paths to success. Validate. About his career as an influencer, Lorenz adds: Anyone wielding power on the Internet wields political power. “

Despite this, influencers and content creators are often looked down upon by the prevailing culture, says Portfolio editor Merry Sun. Portfolio release scheduled for June Glamour Senior Editor Stephanie McNeill Swipe up for more!which PWs It’s been called “an entertaining look into the not-so-secret lives of social media celebrities.”

“A lot of the comments are about how horrible and evil they are. They don’t do real work,” says Sun. But “they changed the way we interact online; how we buy things in digital markets; how trust works.”

Lorenz notes that the media often focuses on the founders of social media platforms, but in reality those founders are often unaware of how their platforms are used. . Power, she says, is her users, influencers, and content creators that ultimately define both the nature and long-term destiny of a platform.

platform war

The question of who owns and controls digital platforms, and how power struggles against them affect our daily lives, is a powerful hitter in the Internet economy and the challenge to rebuild it. Featured in other titles that focus on promising innovations.

Despite the enormous influence of content creators, some platforms are still fueled by life-sized personalities. break twitter Ben Mezrich (accidental millionaire) During his brief tenure as CEO, Elon Musk implemented the technical shibboleth of “move fast and break things,” with a particular focus on the second part.

Grand Central plans to publish Mezrich’s book in November, and executive editor Karyn Marcus says it’s a battle between the decentralized potential of the Internet and the struggle by executives and corporations to maintain control. “We’re in an interesting moment where the internet is increasingly being driven by corporations,” she explains. “There is nothing more democratic than the Internet, but can it survive the powerful interests of corporations?”

A similar question is addressed by business journalist Jason Del Rey. winner sells everything (HarperBusiness, June), PWs calls it an “impressive account” of the retail war between Walmart, a traditional retailer that needed to become an e-tailer, and Amazon, an e-commerce pioneer that has made a footprint in brick-and-mortar stores. .

Del Rey’s book explores the potential perils of an economy in which Amazon and Walmart are “the go-to suppliers of everything American consumers might buy.” No one wants to wake up in a world where he has only two choices, he adds. However, in some communities this is already a reality. “

At the same time, the post-pandemic era has given unexpected competitors a boost.of phoenix economy (Harper Business, May), Felix Salmon, Axios Chief Financial Correspondent and Host slate money The podcast examines the “new extraordinary” in the post-corona era and considers platforms that take advantage of the sudden ubiquity of remote work, such as Zoom and Slack, which have surged in popularity during lockdown.

The questions of how work and consumer habits will change in the next few years, and which companies will win and which will lose, are difficult to answer, Salmon said. “Fuck is really fucking weird now,” he says.

Adding to the oddness is the emergence of what is often called Web3. This is an early model of the World Wide Web that paves the way for a more decentralized and decentralized internet where blockchain technology and digital currencies promise to shift power from platforms to creators. Harper Business will be published in September Web3 Alex Tapscott (co-author in 2016) blockchain revolution) describes this new system in more detail and how it gives users more control.

“This change is a challenge to the status quo,” says Hollis Heimbouch, publisher of Harper Business. “It gives everyone the opportunity to play a role in creation.”

show me the token

Inevitably, platform competition and the emergence of new technologies will have a major impact on our financial lives. So how to make money, how to spend money, and even what we consider “money” in the first place.

Web3 promises not only to democratize the Internet, but to give creators more ownership and potentially economic power.of metaverse economy (Kogan Page, August) Fintech experts Arun Krishnakumar and Theodora Lau explore decentralized finance, the token-based economy, and the economic principles that drive business in Web3. “With new economic models emerging,” says Krishna Kumar. In the past, when people stole your data, there was no return. That will never happen again. “

But given Web3’s relationship to digital currencies, what creators get in return may not look like money as we know it today. token (Verso, October) Rachel O’Dwyer, Lecturer at the National College of Art and Design, Dublin, looks at digital currencies such as Bitcoin and Dogecoin and explores the impact of an economic system in which technology platforms act as banks. .

She cites Amazon-owned live streaming service Twitch as an example. The service allows users to buy “bits” to tip streamers. Bits worth $1.40 are cashed out by the streamer he is $1 and Amazon keeps the rest. Such tokens are “money-ish” and “more or less than money,” she says O’Dwyer. And platforms can use them to maximize profits and keep users enslaved.

Reflecting the concerns raised by many people interviewed for this article, metaverse economy Co-author Lau warns that humans, not technology, will need to ensure equitable access to this rapidly evolving new internet. “Web3 will allow more people to participate in the new economy, but who is at the table?” she asks. “Who has the voice to guide it where it is needed?”

Liz Scheier is a writer, editor, and product strategist living in Washington, DC. She is a memoir author. never simple.

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