"Where Attention Flows, Money Follows." Well, sometimes.

Kevin Kelly’s blog recently cited my work, in piece called “Where Attention Flows, Money Follows”

My comments:

“HI Kevin,

“Thanks for the citation of my work. You always find neat ways to put things. As the old adage goes ‘Build a better mousetrap, and the world will beat a path to your door.’ People who want to see more recent thoughts of mine can start with my blog http://www.goldhaber.org  Details on what attention is and how it works can be found at http://www.goldhaber.org/wp-contents/uploads/2007//Chap_3_3.19.07.pdf

“A few caveats on your piece:

“1. Money doesn’t always follow attention, and often people just want attention for its own sake, not money. For instance, they write letters to the editor. Or they comment on others’ blogs. Babies are very good at getting attention; money doesn’t necessarily follow. Terrorists get lots of attention, which gives them followers, but not necessarily money. And so on.

“2. Consuming stuff takes attention. The more attention we pay to messages that are not related to selling us stuff, the less ability to and interest in consuming more things.

“3. Ads work only when they get us to buy something. As the Internet grows and captures more of our attention (see my ‘The Web as Black Hole’ http://www.goldhaber.org/blog/?p=127 ) ads will eventually not bring enough money to cover everything, or not very well. Many web sites just ask for money directly.

“4. I still think money is not fundamental to the pure Attention Economy to which we still seem to be headed. I have attempted to develop an index that allows comparison of different types of economy, according to which the AE is already much bigger than the money economy. See http://goldhaber.org/blog/?p=80 . Also, the money econmy is now in trouble. See http://goldhaber.org/blog/?p=129 .

Best,

Michael”