Trust is Crucial for the Networked Information Economy to Function
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ミルトン・ウルフセミナー2014資料：シェアエコノミーからレピュテーションエコノミーへ Milton Wolf Seminar 2014: from share economy to reputation economy
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Trust is Crucial for the Networked Information Economy to Function
- 1. “Trust”, the Underlying Element that Makes the Networked Information Economy Work - The Role of Social Media in the Evolution from Share Economy to Reputation Economy - KO FUJII PHP INSTITUTE, TOKYO
- 2. Facebook is Ending the Free Ride, March 19th, 2014 Is this good or bad?
- 3. “Ultimately, what’s good for people on Facebook is good for the businesses that use Facebook to reach and engage them.” Facebook for Business News, December 5th, 2013
- 4. Relevance Traffic Data Ads Relevance drives traffic that drives data. Data drives both relevance and ads. But platforms have little incentive to poison relevance (organic content) with ads - because if they do, users walk away.
- 5. Relevance Usefulness Authenticity Credibility Platforms need trust, whatever the approach. Without trust, platforms lose traffic. Without traffic, there is no data. Without data, there is no business. ALGORITHMIC APPROACH SOCIAL APPROACH
- 6. Trusted bloggers Trusted curators Trusted Platform Money TRUST is crucial for the ecosystem to function 2-sided Market of the Networked Information Economy Ads Data User experience
- 7. Platforms are disincentivized from breaking the trust with users. Nevertheless, monitoring their activity to maintain the trust is important.
- 8. The web strives to be trusted. But what about the “filter bubble”? That’s a slightly different issue from ads. The web can be free of ads’ influence but still have the filter bubble problem.
- 9. Relevance Traffic Data Ads The REAL filter bubble problem is this. Not the ads. It’s each user’ responsibility to reach outside the bubble.
- 10. Things you can do, tools you can use to break the bubble: •Turn off cookies •Erase web history •Log out •Go Incognito •Tweak your preferences •etc
- 11. Terresterial TV Social Media N/A Cable TV/ Paid email magazine Which do you prefer? Free Non- personalized Personalized Paid
- 12. SOCIAL MEDIA LITERACY You need to cultivate
- 13. But all in all, benefits of social media (seemingly) outweigh the costs Find information Meet new people Connect Collaborate Share Discover Take action Targeted ads Filter bubble
- 15. “Cognitive Surplus” • Definition: the free time that people have on their hands to engage in collaborative activities, specially as applies to web 2.0. (www.urbandictionary.com) “The ability of the worlds’ population to volunteer, contribute and collaborate on large, global projects. “ - Clay Shirky Digital technology + human generosity + more free time = collective creation to improve the world for civic purposes.
- 16. We just talked about transaction of information in web2.0. Now let’s talk about transaction of things and services
- 18. In an networked economy, assets can be shared, co-owned, and reused.
- 19. Share Economy
- 20. Definition - ”sharing economy” Wikipedia “a socio-economic system built around the sharing of human and physical assets. It includes the shared creation, production, distribution, trade and consumption of goods and services by different people and organizations. These systems take a variety of forms, often leveraging information technology to empower individuals, corporations, non- profits and government with information that enables distribution, sharing and reuse of excess capacity in goods and services.”
- 21. ECONOMIC IMPACT “The Clothesline Paradox” “If you put your clothes in the dryer, the energy you use is measured and counted, but if you hang them on the clothesline to be dried by the sun, the energy saved disappears from our accounting”. Reputation economy is bigger than what appears on your accounting book.
- 22. Category -”sharing economy” Wikipedia • Bartering • Bike sharing • Book swapping • Carpool/Ride sharing • Car sharing • Clothes swapping • Club theory • Peer-to-peer renting • Product service system • Seed swap • Share taxi • Time banks • LETS • Virtual currency • Collaborative workspace • Co-housing • Coworking • Crowd funding • Garden sharing • Home exchange • Fractional ownership • Peer-to-peer lending
- 24. Common premise-”sharing economy” Wikipedia •Unused value is wasted value •Access not ownership •Transparent and open data •Trust
- 25. Trust is important for the share economy because safety of transaction, experience, and asset rely on trust. But how do you assess/measure trust?
- 26. Measuring trust You are more likely to trust someone if: • You have mutual friends • You share something in common – alma mater, hobby etc • You know more about each other’s past and present activities These information are now available on social media - if willing to share.
- 29. “ TrustCloud provides a tool to build and maintain portable Trust between strangers and sharing sites, simplifying and improving the Sharing Economy experience and shaping its evolution. The notion of connecting trustworthy strangers is an untapped market. Social, mobile and location technologies are coming together to make efficiency and trust. Technology creates the social glue for trust to form between strangers. Rachel Botsman, Wired 2011” https://trustcloud.com/the-sharing-economy
- 30. Reputation is quickly becoming an asset to leverage and maintain. The rise of the REPUTATION ECONOMY
- 31. Imagine a world where banks take into account your online reputation alongside traditional credit ratings to determine your loan; where headhunters hire you based on the expertise you've demonstrated on online forums such as Quora; where your status from renting a house through Airbnb helps you become a trusted car renter on WhipCar; where your feedback on eBay can be used to get a head-start selling on Etsy; where traditional business cards are replaced by profiles of your digital trustworthiness, updated in real-time. Where reputation data becomes the window into how we behave, what motivates us, how our peers view us and ultimately whether we can or can't be trusted. WELCOME TO THE REPUTATION ECONOMY September 2012 Issue
- 32. From Credit to Credibility “The biggest shift is from credit to credibility. It's not just about quantitative scores. It's about the qualitative. Is this a good person to do business with?” … “Our data sources have to be broader than trade activities. We are working with Twitter, Facebook, foursquare and LinkedIn to get access to all kinds of unique information. What are people tweeting about a business? Are there positive reviews on Yelp? That gives us a crowdsourced angle to credibility.” Jeff Stibel, CEO, Dun & Bradstreet Credibility Corp. November 19, 2012 interview - creditcard.com
- 33. Are you ready for the REPUTATION ECONOMY?
- 34. THANK YOU.
Notes de l'éditeur
- This is from a recent article. FB is "in the process of" slashing "organic page reach" down to 1 or 2 percent. Used to be 16%. Is this good or bad from a user perspective? Bad for marketers if you are short on budget, because you now have to pay to be visible. For users, I would say it doesn’t really matter because at the end of the day you’re just seeing ads, paid or unpaid. It doesn’t mean your friend’s organic posts that you really care about are being pushed out or anything. It can possibly even bring discipline into the FB ecosystem because if you look at the distinction made between free publicity and paid advertising in traditional media, this makes perfect sense. Means if you want to have free publicity in the Internet space you can’t just have a toppage and expect people to share your page. You have to be really interesting and meaningful. This will put pressure on businesses to be relevant to the society – a trend we have been seeing as Marketing 3.0. FB spokesman: Like many mediums, if businesses want to make sure that people see their content, the best strategy is, and always has been, paid advertising,"
- I think this is generally true. It’s true not just for FB but for any other content platform services such as search engines and SNS. Of course, users still need to continue to monitor and critique their activities because that is a feedback for them to build better services. But I think overall there is synergy an positive engagement between users, advertisers and the platform.
- This chart really is the essence of a mutually beneficial relationship between user and advertiser.
- Two-sided markets are economic platforms having two distinct user groups that provide each other with network benefits. Alternative to this is a paid subscription model where you get an ads-free experience if you pay. Some people say platforms are getting data for free and they are making money from it. It’s important to understand that users are getting user experience benefits. And also the larger economic impact on the nation’s entire economy. Not a wrong thing to make money because without that funding, you can’t build this system.
- I want to say that this is a different issue because sometimes people conflate the issue of ads poisoning your organic user experience with the effect of personalized experience having a negative experience on civic discussions and other noteworthy news.
- The negative effect of personalization on civic discussions and access to diverse point of views occurs when the organic content is too relevant for you. At the end of the day, people won’t confuse ads with organic content. Because as I said, it’s usually very easy to distinguish between ads and organic content on a search engine or a social media. People are not that stupid. It is the excess of relevance that negatively affects getting diverse views on a topic or the chance of serendipity to stumble upon new things.
- You can get a non-personalized experience. Some of this is about non-personalized ads. You can use tools. Upworthy is a website for viral content that uses catchy headlines to promote socially important news from a liberal perspective. But doing this too much is going to the television model that Yochai Benkler of Harvard Law School calls the industrialized information society. You actually get more degenerate content if you pursue non-personalization in a two-sided market because you cater to the mass. Cable is different because it is a paid model. Users can promote a cable-like business model by subscription. A note about Upworthy. It has been said that Upworthy had unusually viral posts in November. Eli Pariser actually stated that he will make it less sensational. Upworthy is also a curation site. Other websites with more original content did not suffer as much.
- O’Reilly draws an analogy to the “cognitive surplus” in the transaction of information.
- Local exchange trading system
- All of this sharing activity, though, often begins with a conversation about safety. How do I know an Airbnb guest won’t ransack my apartment? Is it guaranteed that a Getaround user will return my car? If I lend my parking spot, is the space renter going to leave it vacant when I need it? Or when will be that inevitable day when something goes wrong? Safety and trustworthiness, as it appears, are still issues in the world of collaborative consumption, but we’re moving towards a model that favors reputation: A reputation economy, if you will.
- http://techcrunch.com/2011/05/09/airbnb-social-connections/ Airbnb Social Connections allow you to hook up the service to your social graph via Facebook Connect. Click one button, opt-in, and you’re good to go. In the listings for cities around the world you’ll now see an avatar if a Facebook friend of yours is friends with the host or has reviewed the host. It’s absolutely brilliant. And it goes even farther. Say you don’t necessarily care if someone you know is connected to the host, what if you just care that you have something in common? Like say, you have the same alma mater? Airbnb Social Connections surface that information too! Naturally, you can turn this filter off at any point to return regular Airbnb results. And it’s very easy to disable the feature in your account settings page for those paranoid about Facebook knowing too much about you. But Airbnb takes your privacy very seriously. As they note on their site: Privacy is Airbnb’s priority: personal and private information are protected at all times. Social Connections are only displayed to those already in your social network. Turn this feature on or off at anytime with a single click. “This has been one of our most requested features, particularly for people that want to have something in common with the people they are staying with,” co-founder Brian Chesky tells us. “Social Connections helps you find places to stay with mutual friends, people from your school or university, or hosts that your friends stayed with and recommend,” he continues. しかし、AirBnBでは、これまでに1000万人以上の人が利用して来ていることを思えば、起こっている事件は信じられないくらい少数だ。その理由としては、AirBnBが単なるマーケットプレースだけではなくソーシャルな側面も持ち、貸す側だけでなく借りる側も評価される「相互信用」のコミュニティだ、ということも大きい。しかも、貸す側も借りる側も、FacebookやLinkedInに自分のプロファイルをリンクすることが推奨され、さらに写真付きのIDをスキャンして本人確認をするシステムもある。今は希望者のみだが、例えば貸す側は本人確認ができた人にのみ貸す、といったこともできる。汚したままで出て行った借り手が、それをレビューに書かれてしまっているのも見た。「またAirBnBを使いたい」と思ったら、きれいに借りないといけない。
- TrustCloud is an online tool that aggregates peoples’ online social and transactional data, crunches it into a TrustScore and creates dynamic TrustCards that people can embed on their social networks. People use TrustCloud to establish their reputation on their social networks and peer-to-peer buying, selling, sharing and lending platforms. “Part of the score relates to the consistency with which people use social networks, how frequently they transact via peer-to-peer marketplaces, and what their “star-ratings” are on sites like eBay.” Blogger Paul Smith explains: “They break it down into three layers: verification, behavior, and transaction. “The verification layer includes email, physical address and SMS verification. The behavior layer looks at who you are across social networks in an interesting way … The transaction layer looks at your ratings on sites such as eBay, Trustcloud’s algorithms sifting out the gamed ratings.”
- http://www.creditcards.com/credit-card-news/qa-jeff-stibel-dun-brandstreet-business-score-1278.php D&B is a more serious, commercial information and business intelligence company.
- Maybe privacy IS an evolving concept. Look at the evolution of “safety” in regards to cars. Or how people reacted to mobile phones in mid-90’s. Let’s look at the overall benefit to the society. Do you want to go back?