Becoming recognized by peers functions as a substitute for financial success in Web 2.0

Evidence

I always found tech parties as a way for me to gauge how I’m doing on my projects. I read my Twitter posts from last year. I was meeting people for the first time I’d never met before. I MET KEVIN ROSE—all caps. That kind of crap. And I look back to this year, it’s so much different. Everyone that I talk to knows who I am … It’s a totally different landscape. So that’s how I judge how I’m doing. In Web 2.0 not everyone that’s successful makes money. — Alice E. Marwick, Status Update, 321

Categorization

• QUESTION: Worth chasing: does recognition-as-currency genuinely displace money in creator economies, and does this change once monetization becomes possible?
• XREF: connects to: Reputation effects can substitute for direct iterated exchange in producing trustworthiness — Russell Hardin, Trust and Trustworthiness, 151

Broader Connections

• Reputation effects can substitute for direct iterated exchange in producing trustworthiness #corroborates (0.80) — Russell Hardin, Trust and Trustworthiness, 151