Elon Musk is going to be making even more money. [Congratulations to all those who dutifully support him. He should be very appreciative of Hive for what it is doing for him.
Why do I say this?
One word: Grok.
Are you not familiar with that? We will cover it in this article. However, we are also going to point how many on Hive are doing all they can to support him.
So let us begin into Elon's money making venture.
What is Grok?
Remember all those people espousing how foolish Elon Musk was for buying Twitter? Do you recall 11 months back when we were told the platform was going to collapse?
If so, did you see what recently happened?
Grok is a new chatbot hitting the market. It was developed by Elon and the X.ai team. It is going to be incorporated into X.com (formerly Twitter). Anyone want to guess what it was trained on? You guessed it: Twitter data.
Elon might have paid $44 billion for something worth half of that. Or maybe he didn't.
He claims that he never thought of the AI applications when buying the company. That seems highly unlikely in my opinion. In fact, it would be completely out of character. I never bought the freedom of speech rhetoric. Even I could figure out from the start Twitter was a treasure trove of data.
Seven months ago Grok was nothing more than an idea. As of yesterday, it was a product released into alpha.
It is also going to be a money maker.
According to reports, the service will be available once in beta to X premium+ members. This means forking over $16 per month, an extra $10 to use it.
Back in July, Elon touted there were 540 million MAUs on X. These numbers tend to always be inflated since a lot will log in once in a blue moon. For that reason I will knock it down to about 300 million.
Here is where it gets interesting. We are likely to see at least 1% sign up for the service. That would be roughly 3 million people. At $10 (extra) per month, that comes out to $30 million, or $360 million on a yearly basis.
Trust me, these numbers are conservative.
As we know with software, most of this is going to be profit. The margins are at least 80%, closer to 90%.
Supporting Elon At All Costs
Here is where Hive enters the picture.
Elon's database is very valuable. If data is the new oil, how come many on Hive prefer to keep making Elon look alike a Saudi oil oligarch. Hive has a database yet a large number of people opt to fill Elon's.
But, we are using Web 2.0 to pull people to Hive. Yeah, how is that working out? For all the Tweets (Xs), how has the userbase done over the past 12-18 months? For the millions of Tweets, comments, and posting of all kinds of information, what does the proverbial pudding look like?
Since the userbase is flat, I would say hasn't had much of an impact.
What activities do we see people on Hive doing on Web 2.0 each day? How much data is being fed those databases housed on servers owned by people or companies like Elon?
My guess is we are looking at hundreds of thousands of Tweets, FB/Instagram, and Discord entries daily . It could even enter the millions.
Draining Web 2.0
It is interesting to note there are many who will not support the banks and removed most of their money. They will not support entities that are out to screw them. We can see the logic in this.
Yet, these same people will turn and spend hours on Discord, X, or the Facebook family posting anything they can think of. Does anyone believe that Silicon Valley is less nefarious in their intentions than Wall Street?
If you think that is the case, I have a bridge to sell you.
These mega technology companies are known for their surveillance, control, and ability to monetize what you do.
On Hive, we profess immutable text database. If that is the case, how come so many of us spend our time filling up Web 2.0 databases?
I know we assert it is best to pull the people over from there to Web3.
Aside from it not working, this isn't what history shows.
Web 2.0
How did Web 2.0 become such a major part of our lives? What path did it take to become a success story?
If you are old enough, do you recall early companies saying "We need to get Dan Rather or Tom Brokaw on our platform. We need the major broadcast influencers."?
Did that happen? No.
Was the success of Facebook due to the attraction of major celebrities and sports figures joining in the early days and leveraging their names (following)? Again, nope.
Ironic that somehow, in spite of not pulling the people from traditional broadcast, Web 2.0 exploded. It is highly unlikely that Mark Zuckerberg hung out at cable television conferences seeking ways to attract users. Nor did he sit in front of the television all day long supporting their business structure.
We are in the attention economy. For that reasons, isn't the most important question "where am I focusing my attention?". If your attention is on Web 2.0 all day long, why should anyone else care about Web 3.0.
Certainly, we cannot offer every single application that Web 2.0 does. At the moment, we do not have a solution for something like Spaces. However, for the things where we have alternatives, why are people still using Web 2.0?
Because that is truly what they are. Just like many of the influencers on YouTube, they like to talk about Web 3.0 but they are not very active with it. A post each day and a couple comments do not constitute use in my opinion. Not when an individual does 10x or 20x the activity on Web 2.0 platforms.
Feeding Elon and Zuck more data is not the solution in my opinion.
On Hive, We Do Have An Impact
Can you imagine another 100K text based activities on Hive? We now have a number of applications that can offer microblogging. There is Threads, DBuzz, and Ecency. Each has the basics of what Twitter offers.
We then have the additional benefit of the exponential nature of things. Let us look at doing things on chain can have a greater than 1:1 impact.
- Extra engagement: each comment or post opens the door for others to respond. This is where having more posted to start offers the opportunity to have other actions to follow behind it.
- More transactions: not only do we see more actions in terms of comments, there is also voting. When people post on Hive, anything is eligible for a vote. This means that each action could result in 2 or 3 more transactions.
- Ideas for others: I cannot tell you how many ideas I got for articles from the comment section. People post their views and it can trigger something else.
- Multiple Front Ends: since the data is available to all front ends, we effectively start to help the value of those applications with each piece of information we post. Put something on X and you can see it there. Most that is posted to Hive is visible through a number of front ends. It essentially grows the database for that site.
Number 5 is probably the most powerful from what we are seeing in the world today with technology.
- Data: Each time someone posts something on Hive, it is in the decentralized database. This means there is more for the developers to tap into and feed their algorithms. We all know the major tech companies have a huge advantage due to the data they control. X and Reddit both took steps to protect the gold mine by restricting the ability to scrape the data.
They understand it is the new oil.
Once again, why are we giving them more of it especially in light of the fact that tens of thousands additional posts or comments on Hive would have an outsized difference? The proportion compared to what is here presently would be stunning.
Of course, there is another factor, we can call it number 6:
It makes Hive a more engaging and interesting place.
Nobody wants to arrive at a site and find it dead. When that occurs, the thing people do is leave. If we have a lot of activity, people will pause to see what is going on.
It is much easier to share a success story than plead people to try to be part of building that. That is the issue Hive has. We do not have the success to share.
For that reason, it is important to start building it. To me, this starts with the simple question:
In the attention economy, where are your eyeballs primarily at?
If your attention is on Web 2.0, why should anyone else switch?
Posted Using InLeo Alpha
Posted Using InLeo Alpha
He will just introduce his own crypto as far as I understand 😓
I mean as coin
He might but this is much bigger than just having a cryptocurrency.
I always wonder why Hive is promoted so much on Twitter and why it doesn't have a private chat to interact with other users like the most popular social networks have, since there is so much talk about freedom, we all love the feeling of security even if it is illusory since it is something that attracts many users although in the end all social networks know what we talk about in private But that feeling of security is what many love.
There are private chats. Peakd instilled one.
They are not as robust as a discord but they do have the fundamentals. I am sure we will see more in the future.
Hive is more glorious a chain that most other social media, I think what you described is sufficient enough for people to see value in it. The differences been made is in the system of technology that the web3 based idea built in Hive.
Activities are paid well and the growth to the app and the account as well. But this chain need more upgrades about auto -downvoting, or unethically resisting a community not to grow, out of vengeance and the other users make complaints about the odds coming up.
Over the years, I have observed that there should be more equality offered to everyone, for being a part of the system. If this development is done to ensure the community strengths and people’s interests, then more users would be active in voting, commenting and running on Hive well.
This much Hive can do and if it does, we would see revolutions that would astound us well.
👍
People tend to focus upon mouse turds. The downvoting is small in comparison to the magnitude of the transformation taking place. I dont disagree that it should not be addressed, just people need to realize the long term potential and what will be valuable in the future.
I hope HIVE grows. I talk about the importance of owning your own data too. Even our identities. Look, your username is important too! People have their handles turned into their brands!
Look, people like Elon would steal your entire identity if he could make a buck! Oh, in fact, he has! They took over the account name @music for their own use! The original owner posted how sad he was, that he spent a lot of time building it...poof! Not yours.
Jack did the same kind of thing. Both @Tyler and @Cameron were 'stolen' accounts. Twitter found a 'reason' to take them away. Why do you think that is? It's because Tyler and Cameron are his good friends - the Winklevoss twins! How would you like that? Create your account on the day Twitter opens. Your own name! Something to be proud of, maybe. Except you wake up one day and find out a billionaire stole it because he wants to look cool too!
Isn't it ironic, these are the same people that are 'into crypto'? They've spent their lives going around and ripping off people's digital assets all along. Now they want to tell you that they're altruistic and love blockchain. BS. They love the $, the attention, the vanity. They would take it if they could.
So ya, try and get off that shit.
Nothing was stolen. That is misleading. It is their platform. Am I stealing from you if your are in my house and I grab my coffee mug out of your hand?
It is mine.
On Web2, everything is theirs. That is the way it works. To think it is stolen is feeding into the misleading notion that people actually own something. They do not.
Everything is done with their permission. That is the message we need to spread.
Well yeah right technically.
But people build their whole businesses on social media. And it can all be 'taken away'. It feels stolen to the people owning it.
Never heard of gork, I have however, heard of Gronk!
A very entertaining character himself.
any guesses on which Crypto he will pick to use on X? Many are guessing it's $XRP since he mentioned that as a possibility. Would it make sense for him to Create a Token on $HIVE to use?
Kinda goes in line with the 5$ million XRP paid for a Greenpeace campaign to make XRP look better than the centralized piece of garbage controlled by banks it truly is.
https://www.bloomberg.com/news/articles/2022-03-29/greenpeace-crypto-billionaire-lobby-to-change-bitcoin-s-code
Ripple is a nice ally for the time being. The enemy of my enemies is a friend.
Let ripple do battle with the governments and the SEC. We keep building. But you are right, it is like Ethereum, controlled by bankers.
No clue. I am not sure where Musk stands on that. He is a major troll so I wouldnt be surprised if he didnt do much other than mirror what PayPal is doing.
I generally ignore your 'Melon Husk' posts but am glad that I took the time to read this one. It is worth noting that... I often change peoples (and services) names in my mind because I get tired of seeing or hearing their names (or spreading them) and humor is often my antidote to knee jerking with ill will or ill feelings.
All that said though...
I really dislike the push for folks to go to Web2 platforms to recruit folks to Web3. It not only seems hypocritical but it also 'feeds the beast' that we should (in my perspective) be turning our back on.
EDIT: There is also no originality in using the Grok name and although I know where it came from most do not. Having read pretty much all the works of Robert A. Heinlein (the author who coined the term) I bet he is rolling in his grave over it being co-opted!
Really Elon also do hive
While we thought we are marketing and promoting Hive on X, it is still more of promoting the X and Web 2.0. We really need a better marketing strategy.
I quit using Paypal and there is no way I could find to close my account.
I hope that next year there will be more developments, the market will improve much better.
point taken. i will start building.
One strategy i am trying is to have enough hive to donate to my referrals so they can power up from early on and have rc to interact meaningfully
As we all know Hive is a decentralized platform to associate ourself with freedom of speech and various earnings as well as sharing small comments, thought ,like tweets. such as threads. thank you
For traditional software yes, AI software is not of the same calibre as normal software where you unload the cost of running the software to your customer.
You need to run inference on user request which still requires hefty amounts of compute that is not cheap. For example, Github Co-Pilot is losing 20 dollars a month for every user.
And Grok doesn't come close to OpenAI's paid offerings on any benchmark. (It is slightly better than GPT3.5 which is free to use.)
Grok is just going to be another money loser for X (formerly Twitter).
We will see.
Of course, since it is private company, we will not have access to the numbers.
To grok is to think on a concept until the concept is fully understood.
It was coined in this book.
The moment I saw Elon buy twitter, I knew he is making a smart move towards something
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Always considered DBuzz to be a great app that is not promoted or used enough on HIVE.
Elon Musk has implemented many measures that are driving away many good content creators who would be an excellent contribution to HIVE, I think that continuing to use X to attract more creators to the platform and as support to promote our publications is a good strategy to give know a platform that will really reward them for their content and where they have many possibilities to grow, but it is up to us to vote for really interesting content and consolidate HIVE as a valuable content platform as dynamic and varied as X and the other networks social.
Good post @taskmaster4450. So how does Hive make Elon more money? Because we are pulling in folks from X(Twitter) to Hive. It's not working that great right? I don't use X(Twitter) that much. I am primarily on Hive. I like Hive better. Do you think Grok will pull up more info about Hive into X for people to see and want to join Hive more? I have some of my favorite bird friends on X. That's it. I have know them for years. When I get a new bird I will ad he or she to Hive 🌟🌟🤩🌟🌟 Hive is so much better and more fun once I got more use to it. I don't think people want to make any effort and that might be why they wont join Hive. But I wouldn't change things on Hive for this reason only. !BBH !CTP #ctp
I continue to post on X because that is where I have a bigger audience and more reach for my EDM publication and crypto/splinterlands content (two separate accounts). At the same time, I have made more of an effort to consistently post EDM content on #inleo and to be more active in the comments of authors that I enjoy so I can build relationships. While I would like to be more consistent with the long-form Splinterlands content I post on #peakD, that is the one area that I have not lived up to... yet.
A significant part of the draw of web 2 systems like X is that they are used to create social pressure/change. This only works as long as 'politicians' and other such figures use the system and people think they can reach or sway them... or if there enough people on the network as a whole that it seems that movements can grow to a significant size if they are formed there.
The inceptions of Twitter and Facebook were massively 'helped' by CIA funding and they were always intended to be a system of monitoring, control and power plays. Combined with there being no earlier equivalent technologies from which people needed to be lured away from, they grew exponentially through word of mouth.
Today they have the benefit of this history and so anyone wanting to challenge them needs to appreciate this dynamic and make use of it. This is exactly why I have always advocated for the free speech features of Hive and aimed to attract potentially powerful people/speakers to make use of Hive. Unfortunately, plenty of the current biggest holders of HP either don't understand this or don't want this to work for their own reasons. Coupled with the fact that the powerful people won't likely use a small network anyway, there is a huge barrier to being able to amplify Hive's network effect in these most efficient ways.
The combination of the right philosophy, the right technology and the right messaging to the right audiences can change all of this.
Can you summarise what this would be?
Well, that's a big question to answer and I don't have enough spare time at the moment - but it's something I will probably return to and blog about. A full answer to this is something that needs to evolve over time as a result of real world marketing and analysis of the data that is collected.
In summary though, at present, I can see the potential for a huge shift in the internet landscape as a result of Hive based technologies, but only once they deliver the promise that has always been lurking here but never actually realised. The efforts of the SPK project are generally pointing in the direction I am highlighting here: Tools to empower communities to create their own immutable online spaces, with their own token, their own rules and their own indestructible media hosting. Essentially, we take the power of Youtube from Google and the power of Twitter/Wordpress/Facebook from the corporations and we create the tools needed to give that power completely to the people - removing the middle men completely.
Once this is fully operational (it could be within a year from now), this then has to be proven to be effective and will be helped by some successful projects being promoted both organically and with deliberate marketing assistance. Who exactly the communities are that first make use of it and become popular is not something I can accurately predict, but it could be groups who have been heavily censored on web 2 or just future facing groups of technology minded individuals.
That's fabulous, thank you. I ask particularly because I will be part of a round table next week talking about blockchain and Hive. I'm going to add this post and your comment to the resources I've gathered over on this post about the event. We're talking especially about opportunities for creators because it's linked to the Business Festival, but I am hoping some community activists will be there as well.