Multiple problems plague the current state of social media.
- Millions of creators were wiped out by the ban of TikTok in India.
- China banned Facebook operations in the whole country, and millions of users were left without it.
- Tech giants take undue advantage of the monopoly in the industry. If they can silence the President of the USA, then they can silence anyone.
- Meta controlling facebook, whatsapp, instagram and making their own rules.
- The Cambridge Analytica case is still the most controversial topic to date.
- Facebook, Instagram and WhatsApp went down for 12 hours throughout the world in October 2021. That was a DNS error due to centralization and their architecture. Their servers went down.
- Servers are not impossible to break. Tech giants use industry-standard 256-bit encryption, which will be vulnerable due to rising quantum computing powers. Most centralized platforms are at high risk of going down. (Source: Quantum Computers Will Break the Internet)
- YouTube is the only central platform that pays. It takes about 60% of ad revenue generated by creators to provide a platform. Even though it is unreliable, it is highly biased concerning location, audience type, niche, number of ads, popularity, and other factors. The entry barrier is too high due to the video-only format content format. Creators are not eligible for monetization till 1000 subscribers and 4000 watch hours within 12 months.
- These black boxes where monopolies keep doing what they want and make their own rules leave creators disappointed.
- This system needs to change. People should get a fair share based on democratic decisions.
- Other social media platforms don't even pay creators for their contributions & frequently make algorithmic changes that affect creators' reach and engagement.