5 Goals + featured in NASDAQ
One of my mentors used to say, “You can stop a train with one finger if you know where the button is.”
I’m fascinated by leverage in this sense — what small effort has a large effect?
After years of griping about corporate media (I created the /r/media_criticism subreddit in 2015), then more years working in crypto, I became convinced that a market for credibility is a high-leverage solution to the Credibility Crisis.
From conception, Ideamarket set out to accomplish a lot, using only a little.
5 Goals
Here are the 5 things Ideamarket aims to accomplish, using only the mechanism that’s already live:
1. Measure credibility without media corporations
Ideamarket makes credibility prohibitively expensive to fake.
Trusted voices crowdsource a high rank "for free," as their audience buys upvotes out of self-interest and genuine belief. Private interests must pay out-of-pocket for a high rank, while competing against the buying power of entire populations. Ideamarket is a new income stream for trusted voices, and a new expense for propagandists.
Over time, market cycles shake out both the deceivers, and the deceived.
2. Liberate journalism from paywalls
Ideamarket liberates journalists from paywalls by creating an income stream dependent only on the trust they earn from their audience. This rewards journalists for publishing their best work for free.
3. Make fake news expensive
By measuring credibility in dollars, "fake news" becomes permanently and increasingly more expensive. In addition to creating a newsy-looking website, perpetrators must now buy an Ideamarket rank similar to those earned by the trusted voices they're trying to imitate.
Our free browser extension (in development) aims to relieve social media companies of the need to censor, allowing them to rely instead on Ideamarket’s users to make the vast majority of judgments about credibility and attentionworthiness.
4. Capture the value of obscure genius
Ideamarket rewards anyone for discovering and popularizing the world’s best knowledge.
5. Reward listening, punish shouting
For information producers, Ideamarket makes "earning trust across ideological lines" profitable, and "provoking a niche audience into perpetual outrage against imagined enemies" expensive.
For information consumers, Ideamarket makes "truly understanding a wide variety of viewpoints" profitable, and "forcing preferred beliefs upon others" expensive.
These 5 goals have been added to our 1-minute intro at docs.ideamarket.io. Just click “About” from the Ideamarket.io homepage, and you’ll get there.
Featured in NASDAQ
Nearly all of these goals made it into our CoinDesk feature last week, which was picked up by NASDAQ.
—Mike
P.S. Don’t miss Fee-Free Friday — we’ll reimburse gas fees for the first 10 buys/list-and-buys after 10am PST on Friday, March 5 (max 500 gwei per tx). Set an alarm!