The exodus of Netflix viewers from the streaming service that had the company rethink its business model and resulted in the company’s stock losing value made me wonder about the reasons that lead to that. Have we reached the point where there are too many available streaming channels that people are losing interest? Did Netflix not produce enough original content for viewers to watch? Was it their plan to go after freeloaders who were exploiting the service via shared passwords? Or did it have something to do with their plan to add a lower-tier service that will include ads, as some speculated? Regardless of what the real reason may be, I am not sure we will ever know for sure.
I continued to think about it and began to wonder about the possible connection between that consumer behavior and the relative ease of getting content from the internet; information, products, services, entertainment, social interaction, everything. Back in the dark ages, roughly two decades ago, that young and forming entity introduced us to new ways of getting things for free, stuff we paid for before (and were still doing at the time outside that entity). Think Napster, NetZero, news online. Large corporations took some time to organize and put an end to that ecosystem (and continue to do that to this day), but the idea that digital content, being non-physical, is therefore valueless and thus must be free remained in the minds of many. I can personally attest to that notion from my personal experience as a photographer who transitioned from chemical to digital photography. Several clients demanded to receive digital files for free because those images were not physical prints. It was difficult to convey to them the point that despite being digitally-created images these were real images nonetheless.
Unlike price, which is a set amount based on a standard exchange, value is a variable term that receives its worth from the person or entity that relates to it (for example, an old piece of furniture would be worthless for someone looking for modern furniture but highly valued for one dealing in antiques). The elements that produce the value may not be all clear to all, making it inherently subjective. Those elements must then be settled artificially; a set price, an exchange of goods, or a negotiation and a settlement on terms. Think, for example, of the journey P2P and file-sharing sites made from the days of Napster to today’s iTunes and Bandcamp.
Setting values for commodities in the public domain is an essential goal for all, from single-operator businesses to large corporations (the price of products and services), scientists and academic institutions (are environmental issues important?), to political parties, religious groups to world nations (what should we fight for or over?). Each body is pushing to introduce new points of view, facts, and opinions, introduce new products, set new trends, and create new markets. These are what propel the success of everything from a new chocolate bar to a geopolitical movement. An effective presentation of information that drives consumers to favor a product can affect not just livelihood but life itself. Wars between nations are fought online as much as they are on the battlefield, and victories are achieved not only by concurring territory but also by capturing the hearts and minds of the public.
Look around and consider the reasons why you favor a certain drink, a restaurant, or a political idea. In a world where information seeps into our minds in ways, we usually cannot control and often aren’t aware of, verifying facts and forming healthy opinions are vital for the safety and well-being of you and those who depend on you. Relying on trusted sources and being able to separate the wheat from the chaff is a skill that requires knowledge, sharp thinking, and a lifetime of learning and improving on those. In the complex world we live in, with its great lures and rewards, there are sometimes no second chances to make a good decision.