No “Attention, Please!”

The Attention Economy: Are You Being Sold?

Yogesh Haribhau Kulkarni (PhD)
ILLUMINATION

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Photo by Joshua Newton on Unsplash

Once upon a time, agriculture was the cornerstone of our economy. The Industrial Revolution then ushered in an era where manufacturing and services took center stage. As we entered the digital age, the information economy gained prominence. And now, we find ourselves in the midst of a new economic paradigm — the “Attention Economy.”

The concept of the Attention Economy was first introduced by scientist Michael Goldhaber in his 1997 article “Attention Shoppers.” According to Goldhaber, the competition has shifted from merely providing information to capturing and retaining your attention. In today’s digital landscape, information is abundant. What’s scarce — and therefore valuable — is your attention.

Consider this: When you’re shopping online, countless websites offer similar information about products. But the site that holds your attention longest can show you more advertisements, potentially leading to higher profits. In the digital age, companies are vying for your attention, with the ultimate goal of converting it into substantial profits.

The Hidden Cost of “Free” Services

Many people believe they’re getting a great deal with free access to entertaining videos and engaging content. However, upon closer…

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Yogesh Haribhau Kulkarni (PhD)
ILLUMINATION

PhD in Geometric Modeling | Google Developer Expert (Machine Learning) | Top Writer 3x (Medium) | More at https://www.linkedin.com/in/yogeshkulkarni/