When J.D. Rockefeller was building up his oil empire, he was quoted as gloating that he never broke the law. This was a comical statement, as the bullshit that he pulled over the years spawned the need for dozens of anti-monopoly laws to be put into place. He didn't break the laws: he created a need for those laws to exist in the first place because he exploited the system so badly.
Today, we see the tech companies doing the same thing. Government can not keep up with technology, and in fact use that to their own advantage.
I remember learning about Rockefeller in middle school. It was an interesting story. As a child he flipped candy at a profit, which was funny to me because in middle school I was selling candy and made like a couple thousand dollars over an extended time.
In the beginning, he owned some other company that was turning a mild profit. I can't even remember what that company was, looks like one that traded in commodities like grain and coal. However, that's not the point. The point is that the oil industry was fledging and his oil business did not make money in the beginning.
He seriously considered abandoning his oil venture because it was not profitable at first but his other business was, and he used it to support the Standard Oil Company.
It was only when Rockefeller learned to buy the fucking dip that he started making money on his oil company. He built up some silos and started stockpiling oil during the slow months and would sell it during the good months (summer). His oil business became profitable when he started using market cycles to his advantage.
Rockefeller then crushed his competition when he created monopolies with the railroad companies (logistics). Hard to compete when you have to pay a huge fee to ship your product. Eventually, this monopoly was broken up, but not before Rockefeller became the richest person in the world at that time.
The thing about Big Tech is that some of the laws we are using to govern the economy are over 100 years old and completely out of touch with the current reality. Just like Rockefeller back in the day, tech is able to maneuver at an absurd speed and get away with all manner of actions that should be illegal, but aren't.
The realization that users should own their accounts is starting to materialize. This is what WEB3 is all about. This is the attention economy. Pay attention to us, and we will pay you.
Have you ever wondered why so many people are getting banned on social media and the reasons given are absurd? That's because the real reasons are fully illegal (or at least should be) and they have to come up with some generic bullshit instead.
The funny thing here is that governments don't even want to create the necessary laws to make social media a fair and equitable place to be. They are the ones telling Big Tech what to do. Ironically, government itself and the big players at the top are the ones strong-arming Big Tech into performing these "illegal" actions in the first place.
Let me be clear:
Facebook has no financial incentive to ban users.
Twitter has no financial incentive to ban users.
Instagram has no financial incentive to ban users.
Pick any social media site.
The entire point of Big Tech is to get literally as many users as you can so that you can profit off of the massive data farms that result from giving away "free" service. Banning users works contrary to the entire business model.
So why is Big Tech banning users? I think it should be obvious by now that powerful people are forcing them to, either by using threats or by giving them financial compensation or favors in the background. It's all super illegal and no one cares because the people making the laws want these things to happen.
We've reached the pinnacle of breakdown in terms of centralized imperialism. This corrupted model is about to fall apart at the seams, and in that vacuum flows the new tech (crypto) that can't be controlled so easily.
Conclusion
In order to break up the Standard Oil Company we needed to use laws and government to right the wrongs that had been perpetrated. This time around, government is not the solution: it is the problem.
Crypto creates self-governing systems that can't be controlled from the outside. Interesting that the solution to Big Tech breaking the law would be anarchy at it's finest. Just because no one is in charge doesn't mean there aren't rules.
Crypto is the ultimate expression of anarchy because the entire point is that no one is in charge anymore. The network as a whole is in charge, and no one controls the network, we just set the guidelines and get to see what happens.
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There's also the self-preservation incentive. They are banning people/businesses who are a threat to their business model. Directly or indirectly. And from the early stages, because once it becomes a trend, it's harder to stop.
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Good example of why Hive is being shadow banned, quarantined, and thrown in an echo chamber on crypto Twitter.
Exactly.
Algocracy is a very interesting concept. Is crypto pure anarchy or pure algocracy? I feel like it needs to maintain a balance of the two concepts to remain somewhat human.
You're on to something there especially the dumb reasons they use to ban folks from social media, it should be illegal and they find ways around that. I have recently experienced almost that very scenario. I didn't get banned but I posted 2 articles about jeff bezos and the tax avoidance + tax subsidies received along with paying workers a poverty wage and suddenly I got two strikes against me for bullying at once. I was shocked since I don't post anything all that controversial or offensive and use mainstream news outlet links so they can't nail me for false information. Like you said, these sites require users so the ridiculous banning is from someone that can pay them to do so.
I think that is what will eventually push people on social outlets like hive where you can't be turned off at the click of a mouse for holding a valid informed opinion and using real facts to back up such. It's just a matter of time until people are tired of losing their accounts and content over and over again. Starting from scratch sucks, there is only so many times the general pop will put up with this sort of behavior until they get it and start looking for greener pastures.
this is a good one. i don't see the reason why one person should be controlling the crypto currency.
Well the problem is who is in charge of banning people. They want a consensus so they won't hesitate to kick you off. So people need to stop going back to them.
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A fundamental aspect of anarchy often missed
Now that's what you call a frontrunner!
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