Sites like Medium though are a place where people go to experience networking effects. Thinking about it in the long term might be like buying into a year’s subscription of speed dating at the local bowling alley. It may be all the rage with all the types of people you want to be with this week, but what does next week bring? The hot speed dating activity might move somewhere else. Or the group of people you want to hang out with there might be replaced by a different group of people.
Years ago, Brad Cox (of Objective C fame) wrote a great essay on micropayments and the Internet. I can’t find it right now, but IIRC it talked about why micropayments might be the way to go to fund intenert related activities. Unfortunately, my observation of MBA business models is that they have never wrapped their heads around how to implement micropayment models that reach that happy point where consumers benefit as well as producers.
The main reason why the web is such a sight for sore eyes in 2019 is that people seem to think $72 a year is a lot for having a voice. People can find 10x that for a new iPhone or spend that much on beer in a month or on a cable subscription but having a blog sure can't be worth much to most people.
For one thing, how much do they think their time is worth? That is 10 hours of time spent writing at around minimum wage in the U.S.
I don't get it. On the other hand, I don't understand how grandmothers spend $5 on acrylic yarn when they could spend $10 to make a (better) wool scarf that they'll spend 20 hours knitting. (e.g. the wool scarf will protect you in a fire, the acrylic scarf will melt, burn you, and produce toxic fumes.)