Economic Paradigm Shift

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(Edited)

The global economy isn't feeling well. We all know that but some are just acting as if things are just about to get back on track. To be honest, I don't condemn the ones doing that. They are probably thinking it's better false hope than despair.

But an economic crisis has a good side. It acts as a cleansing mechanism, getting rid of shaky businesses and leaving the tough ones or the ones that adapt the quickest.

Pretty much like a forest fire is bad for the forest in the short term, but otherwise, it clears it of everything old or dry. In the medium-long term, it makes room for new trees, which otherwise don't have enough light to grow because of the old and taller trees.

That doesn't make either of them less painful or dangerous.

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The bear market acts the same way in the cryptocurrency world. And we have seen the results with some major collapses. What goes through a bear market and survives is generally built on a pretty good foundation. But there are exceptions, so don't trust only this parameter when analyzing a crypto project.

But besides the economic crisis we are traversing, are we looking at a paradigm shift in the economy as well?

Change of Mindset from Employer to Business Owner

Here's my logic.

For a long time and for most people, having a great job that paid monthly salaries or paychecks and building a career were the greatest professional expectations.

But in general, employees work to enrich others. That's why more people started their own business journeys once they understood what the situation is.

But having your own business is different than being an employee. As employees, most generally do the minimum necessary to receive the salary/paycheck. The minimum amount of effort to keep the job for an almost guaranteed low payment.

As a business owner, you can't do that. You do all that it takes, fill in the roles that you need to, and delegate what you can, but you need to make a profit, or your family won't eat. So that's an extra motivation.

Plus, the better you do, the more your business can grow and the more you have.

The Situation on Hive

On Hive, we are all owners. We can consider it our business. It's generally not a classic business, registered as a company or something like that.

It is either you alone or you and a friend or more. You put together your time and effort to grow your business.

And by growing our collective businesses here on Hive, if they are contributing and not leaching away, Hive grows.

Your business can be posting and curating and for that building a stake in HP and other tribe tokens.

Your business can be gaming.

Your business can be developing dapps or heck, even the core blockchain.

You can even be a trader and call it a business here.

You can offer infrastructure to run nodes for the main chain or the sidechains. And not only. Splinterlands will have its own node validators for SPS.

Lots of ways to run a business on Hive. You can even work "for free" and help out projects grow. If you have HP, that's your stake in the business you're building "for free".

Every contribution makes Hive grow a little bit every day.

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42 comments
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Some great options there Adrian. Cheers

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That's true. Lots of things to do on Hive. Cheers, Steve.

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This is quite interesting, Adrian.
I like the perspective of being an owner of Hive. That certainly should motivate people to push more.
!CTP

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We are all owners and there is no boss to tell us what to do, in most cases. Decentralization should also mean more responsibility taken by every stakeholder.

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That is true. Everyone needs to take some responsibility and not crash the ecosystem.

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From your point of view, is the change happening quickly enough?

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Coming after a lifetime of being employees for many, this will not be a swift process, most likely.

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I guess it will be affected by some extreme events - we had a couple of very hot days in England, suddenly everyone is getting climate change, although advisers have been sending the message for the past decade. I'm wondering how this current cost of living/energy crisis is going to play out - that may produce a big push.

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Yes, there are two factors that will influence the speed of this transition. The crises that shake the business models, and the new generations that come from behind with different mentalities and priorities.

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The new generations?

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(Edited)

From Millenials onward, mostly. Many of them certainly don't prefer traditional business models and are more inclined to try out alternative options to make a living. Whether or not they are the soft generations or not, remains to be seen. They have time to prove themselves.

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Maybe. I think it may be the baby boomers that change things. They grew up with different politics and values and they hold the greatest reserves outside the 1%. There's a lot of them on here and they hold large accounts.

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Well, they aren't enough for a major shift maybe. I'm borderline boomer and gen X, and I have a computer science background, and I still feel overwhelmed by the rapid pace of some developments these days. The new generations don't have this problem. They were born in this space and with a smartphone in their hand. They might have other shortcomings, but they'll easily adapt to changes revolving around the digital space. While enough boomers might be slow at catching the trends, or reluctant to.

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I was thinking about the research that shows that while new generations are born into using these technologies as norms, they don't have the critical thinking skills or experience to exploit or, in some cases, simply the life skills to manage them. In the latter case, I'm thinking about the profound effects of social media use on mental health, for example.

We've also seen the hollowing out of the public realm, the degradation of discussion and debate and a reductionist approach to politics - none of which enables new forms of activity and is an outcome of late capitalism. It's been really good in the UK to see a resurgence in trades union activity and the support shown by the general public towards union activity like picket lines.

But really, I guess it's more about generations working together, using their respective attributes, to achieve changes that benefit the majority, especially those of all generations that are experiencing digital exclusion.

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Being so young, they will need more time to better develop critical thinking and have more life experiences.

As for social media effects, I tend to believe it affects all group ages. If one is hooked, then it's hooked, regardless of the age. I know older people than I am who are dependent on checking their favorite influencers and posting their lives on centralized social media with no incentive other than the virality of social media.

Yes, the level of discussion has dropped from a cliff basically. But that also comes as a result of everyone saying their own piece disregarding what everyone else is saying, often under the cover of anonymity and without damage to the reputation once or ever.

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Interesting discussion, thank you.

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It is evident I have to add the term "business" to the Main Menu of LeoGlossary.

I agree we are seeing a complete paradigm shift. It is the essence of what I wrote this morning although I focused upon paywall for content.

We are see a lot taking place.

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Yep, should add it, lol. 'Economic crisis' may be a popular expression these days.

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It requires a different mindset to see these online activities - posting, curating, staking tokens, playing a game, developing dApps, trading, and running a node - as running a business on Hive. I have been hearing a lot about this, but this time, somehow the idea is beginning to dawn on me.

!PIZZA

!CTP

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This can definitely be the business of the future. Businesses started from being traditional to moving (at least partially) online and now, embracing blockchain technology. But people themselves and what they do on the blockchain IS a small business.

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Yeah, I even read somewhere that the Hive account can be sold. Just curious if anyone has really done it. 😄

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(Edited)

Yes, it can be sold (OTC, there is no market for that) and people have done it.

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Interesting! It reminds me of the DOTA account of my nephew. 😆

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(Edited)

PIZZA! PIZZA!

PIZZA Holders sent $PIZZA tips in this post's comments:
@stdd(5/5) tipped @gadrian (x1)
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Join us in Discord!

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The bear market also serve as a powerful cleaner of fraudulent crypto projects that operated as genuine

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Indeed. The big cleanse every 4 years. Like a self-curing mechanism.

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You have certainly hit on something here, @gadrian. Hive is an excellent platform to create. We are all producers.
The corollary then must be that the platform also needs to find the distribution angle. Just like in the real world. The product, say a tennis racket, needs to be sold and subsequently delivered to the buyer. That's where most of the profits are made traditionally. Think Walmart and Amazon.
ListNerds is an excellent tool for that. It has not even scratched the surface though. And as always, the real "money" (I should really say crypto!), will be made in the distribution!

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Great point! In the same line of thought, in the gold rush days those who made the most money weren't the gold seekers/diggers, but the ones providing the tools.

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Hive can be a business, if it's one of the divisions, of your event. If not, you're out of here either for good, or it's 1 post a month and a curation trail...
!CTP
!ALIVE
!PIZZA

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Not really... There are plenty of opportunities on Hive for regular users. I am one of them. I think I do ok, considering all things I do here, but I thrive for (much) better. That is also a condition I believe, to succeed. To aim higher.

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Everything is real if we really believe in it! So your point of view is also 100% true.
!HBIT

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I love the concept of looking at your Hive account as a small business in its own right.

Hive is so much more than just a blogging platform with a multitude of different avenues to create and earn a sustainable income!

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Exactly. Long are the days when Hive should have been considered a blogging platform only. There are not enough hours in a day and not enough resources to put in everything you can do on Hive.

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Love this perspective.

Hive is my business and I recently started treating it that way. I used to call it a savings account, but it is so much more that that.

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Nope. Savings account is too... passive. You can actively do many things on Hive to earn more and consider this a small business.

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Everyone can contribute and my way of doing so is by being active. If you have some Hive, then you should also have an interest in seeing it do well.

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Exactly. You almost created a brand as a top commenter on Hive.

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