alt Hacker News1. Human attention is a finite resource.
2. Digital media allows a single authored work to consume the attention of an unbounded number of people with near zero marginal cost. Further, once a work has been authored, it is available to be consumed forever.
3. Computers, software, the web, and now AI have drastically lowered the cost to produce a work of digital media.
You can't have fixed demand and have the supply increase 10x every year without something going off the rails eventually.
Now, granted, a unit of digital media is not a commodity good. People have preferences and not all works are created equal. But people are also demonstrably not that discriminating at what they spend their attention on now matter how unsatisfying the experience was, once it's spent it's gone.
Our economic systems around making and consuming media were not set up to handle this level of imbalance between creator and audience and something will have to change if we want to still have a functioning world where people make good art and others are enriched by it.
Replies
Let it collapse get rid of patents and copyright. They are holding us back.
People will assume that means that you can copy and distribute for free and profit without work. You already can.
The business model will have to shift to collecting money BEFORE making something rather than trying to collect it AFTER making. You want a new Christoper Nolan film on his new idea, invest in it. That investment is a risk. Once made the money is made people can copy and distribute however they like. In a cinema, on a DVD, on a streaming site etc.
You've pointed it out yourself, we have these old notions of economics that we apply to a new world where it simply doesn't make sense.
The article starts by video companies being as profitable as ever. Issue is not with economics not being there.
This seems to extend even beyond the arts. I would say that the race to add more features to web and mobile apps will face a similar obstacle.
How long can we continue making 10x more features just because we can, until somebody realizes that users do not have the attention to spend on them? There might be a shift, but currently, we are too focused on pleasing shareholders.