Just a day after IndyaRocks announced Social money, i.e. awarding users for their participation, I came across this interesting observation on why social networks should pay their users for participation ((which the author calls social networking license agreement)
Dear Social Networking Site Developers,
It has come to my attention that there are simply too many of you.
I am already a member of the social networks most likely to fulfill your promises of having fun swapping “content” with my buddies, and catching up with old friends. Anything more at this point is simply busywork, and should be compensated accordingly.
As it stands, you benefit more from my joining your network than I do. After all, the very value of a social network is its population, is it not?
Do you agree to this? Don’t you think that we have had enough of adding/inviting friends and catching up with old buddies (a.k.a social networking fatigue)?
For instance, why the heck should one start a blog @ say, MingleBox or any other site? Why leave money on the table (anybody can start a blog and monetize thru’ adsense. right?). What eventually happens is that your participation is monetized by these social networks (YouTube’s $1.65bn, FaceBook’s $30K sponsored groups/qtr etc) and you get nothing!
I agree that social networks provide a platform to connect with your friends, broadcast yourself and blah blah blah…but don’t we have enough of that?
And as more social networks flourish, we will still be doing the same stuff with the same set of friends (i.e. scrapping, uploading videos, adding friends..etc..)
Tell me honestly – if somebody pays for participation, will you shift from say, Orkut to IndyaRocks? If yes, why? If yes, why not?
Do you see the Balance of Power shifting towards the social networkers? I see a possibility of new revenue sharing model that needs to be built in.
What do you say?