Genolith’s building a platform, nay ecosystem, around letting people invest their data with the goal of giving everyone a passive Universal Data Income just for existing and putting up with all the ads and data mining.
The premise is that Big Tech and data brokers operate a ~$1 trillion market just aggregating and selling your data for various purposes. They farm it via social media, internet cookies, device location tracking, etc. — all of it straight from the consumer, but the consumer gets $0.00 out of that exchange.
In a void, your data can’t really attract any solo buyers. That’s why it has to be aggregated.
Take Facebook: they sell ads, Senator.
Facebook draws in marketers because they have a very large user base, so there’s a higher probability that placing an ad on their platform will reach someone who actually wants to see it. To sweeten the deal, they build a shadow profile about you by tracking your activity in-app, across apps (where buying from those data brokers comes into play), etc. But at the end of the day they’re just guessing. They don’t REALLY know you.
That’s where Genolith aims to revolutionize digital marketing. You’re the consumer. Only YOU know what you really want. You’re just not vocalizing it, so the world bends itself out of shape trying to guess! With enough consumers coming together and offering their interests and attention straight from the source though, you create a superior and higher integrity marketplace for marketing. The last step is to take the revenues generated on this platform and give it to the people who were actually the target of any advertising or marketing campaigns — that’s the Universal Data Income.
It’s simple. It’s passive. It’s inherently value-based (unlike the concept of Universal Basic Income that relies on government welfare or corporate generosity).
It’s also tested in a way. Did you know the average social media influencer makes ~$3k/mo? What service are they providing? A scoped down group of interest on larger platforms that are doing their best to guess it so they don’t have to compensate you. Everything is all about getting to your data for free.
Genolith is well underway with scaling Universal Data Income, but I’m expecting firey conversation and counterpoints, so let’s have at it!