Donald Boudreaux: “The most obvious way in which our lives today differ from those of our pre-capitalist ancestors is that we’re fantastically wealthier. Ordinary people today sleep beneath hard roofs and walk on hard floors in homes equipped with indoor plumbing, electric lighting, and featuring cupboards full of food, closets full of clothing, and garages or driveways full of automobiles. We’re so wealthy that it’s quite plausible that our pets today live materially better lives than did our human ancestors before the industrial age. Although recounted frequently, this truth about modern standards of living cannot be told too often. We’re so accustomed to our spectacular wealth that we take it for granted. And that which is taken for granted is seldom appreciated and correctly understood.”
Pew Research: “Experts are split about the likely evolution of a truly immersive ‘metaverse.’ They expect that augmented- and mixed-reality enhancements will become more useful in people’s daily lives. Many worry that current online problems may be magnified if Web3 development is led by those who built today’s dominant web platforms.”
strategy+business on the continuing growth in ad: “At root, the answer is simple: more consumers are spending more of their time in digital environments, where they can be reached by ads and conduct transactions in real time. But there’s something deeper happening. The number and kinds of digital environments are expanding: websites and social media platforms, communications apps and e-commerce sites, virtual reality worlds and video games. And it turns out each of those environments has something compelling to offer advertisers, far beyond 30-second spots and digital jingles. The biggest e-commerce sites now sell billions of dollars of ads against search results conducted on their sites. Video games may be the perfect delivery vehicle for ads targeted at young people. Social platforms on which influencers build large audiences are great places to link short videos directly to e-commerce purchases. But there are even larger forces at work. We like to think that human beings, as they grow more media-savvy and cynical, will become more resistant to being pitched and sold to at all times. The reality is that we may have a greater tolerance of—and interest in—advertising than critics like to think. And, at a time when some streaming companies that relied solely on subscriber revenues are bumping into growth limitations, adding advertising revenue is now seen as a strategic imperative.”
