in.sight
a newsletter for the eyes of the mind
SERIES 01 | ISSUE 03
The cost of modern freedom
It’s easy to be seduced by the small amounts of profit offered by the latest app or service, but then forget its cost in terms of the most important resource we possess: the minutes of our life.
– Cal Newport, Digital Minimalism: Choosing a Focused Life in a Noisy World
Google, Facebook, TikTok, YouTube – we worship them as if they’re Greek Gods of our modern world. In return, they give us our daily bread of news, entertainment, and services.
While it seems like these platforms charitably satisfy our intellectual and emotional cravings, we can’t deny that they are the backbone of a capitalist system. If something is in the hands of a profit-generating company, it comes with a price. Today, we pay for information with something even more precious and scarce than money: our time and attention.
The rise of the attention economy
The attention economy approaches the management of information that treats human attention as a scarce commodity. The term was coined by Nobel Laureate Herbert A. Simon.
As content grows increasingly abundant and accessible, attention becomes the limiting factor in the consumption of information. In other words, attention is just as, if not more, scarce and valuable than money
Money and Attention: How Are They Similar?
- We need them to survive: Like money, we need attention for survival to an extent. We exchange money for basic needs like food, water, and shelter. Similarly, attention can be translated to such tangibles necessary for survival. As babies, we seek attention by crying or laughing, otherwise, we are not fed and cared for. In other words, we fail to survive.
- Increase in demand = Increase in value: We know that a currency increases value proportionate to its demand. Similarly, our attention becomes more valuable as the vast amount of information today demands it.
How Are They Different?
- Sustainability of Value: Money follows attention. That means if something has more eyes drawn to it, it becomes more valuable. However, the reverse is not necessarily true. Pouring large investments into an ad campaign doesn’t guarantee its success. This makes human attention much more sustainably valuable than money.
- Availability: Money can be earned (almost) infinitely and in many ways. But our attention is limited by time, and so our energy levels. The opportunity costs for our attention far exceed money. While “paying attention” to one thing, we can’t help but ignore others.
What does this all mean?
Companies must first capitalize on our attention before they can make money. Big tech and digital marketing understand this theory. And they’re adapting their business models to showcase a plethora of beautifully personalized yet “free” content.
What Can We Do on an Individual Level?
Awareness, always awareness.
Yes, the platforms capitalizing on our attention should be held accountable for their actions. However, it’s unlikely that these billion-dollar powerhouses will step down any time soon.
We must play our individual part in cultivating collective consciousness to regain as much personal control as we can in both the digital and real world. To hone into our awareness and question how we’re spending our precious cognitive energy. To pay attention to what we pay attention to.
💝 noteworthy
A powerful episode with the bestselling author and creative genius, Elizabeth Gilbert, about the importance of telling your truth, respecting your mental health while balancing an elusive career, and why mercy is the foundation to any creative endeavor.
😌 calm corner
Japanese konmari meets Danish hygge. South Korean vlogger haegreendal shares the simple pleasures of keeping a clean, organized yet foodie-filled home. If you ever get caught in a whim, her videos prescribe calm through minimalism and the joy of quiet domesticity.