Archive for the 'Microfinance' Category

Attention Invesment

Your Attention, Pretty Please?

In March 2007, Alex Iskold wrote about the emergence of the “attention economy”, a marketplace “where consumers agree to receive services in exchange for their attention.” The always-on nature of digital media has increased the scarcity of human attention, and in turn has increased its value. To put it concretely: the more time a company can get you to spend on their website, the more ad revenue they can potentially earn or the higher the likelihood that you’ll purchase one of their products.

I mention the attention economy not to wax theoretic about it, but to share my personal struggle with choosing how to invest my attention. I’ve been thinking a lot recently about the purpose of all this technology reading and writing that I do. I enjoy thinking about the topics that I regularly cover. The evolution of web 2.0 and social network is fascinating to me, and it plays well to my geek tendencies. But my brain has been flirting recently with what bloggers have started to call “social media fatigue,” an exhaustion resulting from the overexposure to and overanalysis of those topics.

There’s Hope

However, my passion for social media was reinvigorated last week when I was directed to a web page where a friend was raising money to support her marathon run in honor of her college roommate’s struggle with cancer. I put the link up in my Gmail status and sent an email to some of my fellow classmates to let them know about it. Though I certainly can’t and wouldn’t claim to have made a huge impact, I think a few of the donors that day decided to act because of that simple message and link from a friend. By the end of the day, my friend had raised several hundred dollars, and as of today she has raised over $1,000 from over 25 donors.

Though the story is not unique or especially exciting, it brought home for me how much potential there is for social media. So much good can be done! And people create applications on Facebook that allow you to… throw sheep? Give each other cupcakes? Come on! Luckily, some people have caught on.

Continue reading ‘Attention Invesment’

Philanthropy Online: Kiva

kiva1.jpgIn this, the first in a series of posts on philanthropic efforts utilizing the social web, I look to the microcredit site Kiva.org.*

Let me preface my comments by saying that I think the Kiva is a net positive contribution to the web (and microcredit), and that the good it is doing outweighs any of the secondary negatives I describe below. Right now. But my concerns about Kiva are less relevant to the still young and still expanding site as they are to what Kiva could become.

Kiva links willing donors in the developed world with opportunities to capitalize small loans for local entrepreneurs in developing countries. From Kiva’s site:

Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can “sponsor a business” and help the world’s working poor make great strides towards economic independence. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates from the business you’ve sponsored. As loans are repaid, you get your loan money back.

Continue reading ‘Philanthropy Online: Kiva’