Chris Hughes became super wealthy thanks to his Facebook stock. Now, this entrepreneur from Silicon Valley wants to restore the middle class, and believes this can be done through his idea. His new book, Fair Shot, outlines a guaranteed income for the poor in the US.
“Most Americans cannot find $400 in the case of an emergency like a car accident or a hospitalisation, yet I was able to make half a billion dollars for three years of work. Something is profoundly wrong with our economy and in our country, and we have to fix it,” Hughes laments. Sounds credible?
Those in the media employs reputation management through the power of social media and this man intends to overturn bad publicity by getting the crowd’s good grace – through a presscon and a book. This event took place on April 2018 but we’re now on the last few months of 2018.
Whatever the long term results of this social media ploy, there are a few lessons learned by those in the Blockchain space after the Facebook scandal and we listed a few of them here.
This is a difficult lesson for Facebook but one that can easily pave the way for others to take on the widening gap for centralized social apps. With increasing disquiet and distrust over the use, sale and loss of personal data, the intrusion of unwanted advertising, diminishing rewards for content creators and a changing landscape, the time is now right for blockchain-based social apps to challenge centralized social platforms such as Facebook, Instagram and Twitch.
Content creators generally do not share in the profits from advertising sales, except on YouTube and Twitch, where creators can have a limited share in profits,