Social Network Equity
Call me nuts, but Twitter has its own economic system, and I've become fascinated—no, obsessed with it lately. As I see it, the monetary ebb and flow of a social networking site can be described, in an absurdly non-useful sense, by the ratio of nodes to which you're linked in either direction.
Given:
Following a person's Twitter feed adds information to your stream.
Gaining a follower sends information you produce to another person's stream.
We can elaborate:
- At a specific moment, there are a finite amount of people in the Twitter Information Economy.
- Each person you follow costs you time, and each person who follows you gains you some mindshare.
- Some people have a fairly equal ratio of followers:following.
- Some are richer than others, and have followers:following ratios that tip in the followers direction.
- Some are "poor" and their ratios tip toward following more people than they are followed by. (The funny juxtaposition is that in reality, they're information-rich.)
- Because it doesn't take following a thousand people to flood you with information, it's possible to be overwhelmed even when your ratio tips toward phat bank.
- Once the rich get rich, they always get richer; those with popular feeds continue to snowball followers through little work of their own. (I'm reminded of a saying: "Turning $1 into $100 is work; turning $1 million into $10 million is inevitable.")
- Even though there's no real-world cost or barrier involved, the economy will always be this way.
- Every day, the finite amount of producers and consumers increases, and with that the economy inflates further.
Anything I missed? Endless subtleties guarantee that there's no way I'm completely right. Twitter at me with your thoughts for a follow-up article and I'll be your best friend.