Instagram and Facebook are on their way out.
This article is a translation of a piece originally published on Hiro Kunimitsu’s note on March 29, 2019. https://note.com/hkunimitsu/n/n6823b9d4b8a6 @hkunimitsu
Social media built around “validation-seeking” won’t stand the test of time.
Currently popular platforms like Facebook, Twitter, and Instagram are essentially built around “fulfilling the need for approval.”
I believe this trend will not persist for much longer.
In particular, so-called Instagrammers go to the extent of living a “fake life” and intentionally taking “fake photos” just to garner “likes.” Chasing approval from everyone like that can get tiring, and they will eventually realize, “This is stupid.”
While the notion of “connecting people through social media” will endure, I’m convinced that social media platforms centered on “fulfilling the need for approval” will not last long.
So, what kind of social media platform do we need, and what should their purpose be?
I believe a forward-looking social media platform based on “realizing dreams” will take center stage.
Surprise, surprise: We’ve already created this “next-generation social media platform.” Our platform is founded on “realizing dreams” instead of “seeking validation.” I aspire to make a positive change in the world with this app.
I will introduce our social media platform in the latter part of this article. But before that, let me share my thoughts on the “state of the current era.”
The greatest invention of the Industrial Revolution was the “joint-stock company.”
Let’s rewind to the era of the Industrial Revolution.
While it is famed for various amazing inventions like the steam engine, what do you think was the most groundbreaking invention of that era?
I believe it was the “joint-stock company.”
Surprisingly, the history of joint-stock companies is relatively recent, starting with the establishment of the Dutch East India Company in 1602. So, what is so remarkable about joint-stock companies? It is that they “made it possible to take calculated risks.”
Prior to the existence of joint-stock companies, aspiring entrepreneurs had no choice but to borrow money to start a business. Unless one’s parents were rich, for example, starting a business was nearly impossible.
However, joint-stock companies made it possible to gather like-minded individuals who believed in a “dream” and jointly take the risk to start a business venture. This led to the adoption of various new technologies, numerous innovations, and the flourishing of the Industrial Revolution.
The ability to take “calculated risks” triggered a sudden surge in innovation. This invention sowed the seeds that eventually flourished into Silicon Valley as we know it today. Led by the Tech Giants or “GAFA,” it has grown significantly in just 10 to 15 years.
No system allowing individuals to take risks and pursue new ventures.
I think that’s enough talk about organizations and companies.
Let’s shift focus to individuals, shall we?
There’s a growing sentiment that we’re transitioning from the “era of organizations” to the “era of individuals.” Various individuals, ranging from athletes to artists, musicians, YouTubers, researchers, and chefs, are now thriving like never before.
However, I feel that a “joint-stock company” would not serve these individuals well in the pursuit of their personal dreams. I think we can invent a better system to help them achieve their dreams.
Even in Japan today, many people lament, “I have a dream, but my family is poor. So, I have to abandon my dreams.” Many people in poor countries all over the world are also forced to give up their dreams simply because they “do not have enough money.”
Our “next-generation social media platform” aims to enable individuals to find people who support their dreams and visions, allowing them to take risks and challenge themselves. This, I believe, will lead to new innovations that cannot be achieved with traditional “companies.”
From “consumers” to “fans.”
Here’s another important aspect to consider when gauging current trends:
The transformation of the concept of “consumers” over the past few decades.
Originally, consumers were merely “end users.” Products and services were ultimately used up by consumers. Consumers then evolved into “prosumers,” individuals who are also engaged in the production process.
Recently, the biggest keyword in marketing has been what we call “fan economy.” It involves turning consumers into “fans” to help grow the business. This is now considered a critical business strategy.
As a result, companies are beginning to emphasize conveying compelling “stories.” Successful examples of fan economies include companies like Apple and Xiaomi. I anticipate that “fan economies” will continue to increase in significance.
However, existing fan economies have a notable flaw. They provide no benefit to fans who supported them from the early stages. This is a crippling issue.
For example, I have been a massive “fan” of Apple from their early days, even before they achieved tremendous success.
I purchased almost all their products like the iPhone, MacBook, and more, essentially living within Apple’s ecosystem. At the very least, I’ve contributed to Apple’s success in a minor way. Haha.
Apple’s great success turned it into the world’s most valuable company. But what do I get as a fan? Nothing in particular. Not to mention, every time I create a game for Apple’s Play Store, they hit me with a hefty 30% “tax.” This seems quite unfair to me.
A gracious merchant might say, “Kunimitsu, since we’ve been doing business for so long and you’re a loyal client, I’ll give you a discount. How does 25% sound?” Unfortunately, Apple would never do that. Haha.
This is probably similar for fans who support idols or superstars since before they become popular. You don’t get any perks for being a fan from the beginning. This is the biggest downside of the fan economy.
So, if we can instead provide benefits for being a fan from the very beginning, we may be able to accelerate the fan economy even more.
Enter a world where a dream is a “shared asset.”
Forgive me for the long introduction. Here is our next-generation social media platform: FiNANCiE
Our objective is to cultivate a platform where the masses collaborate to realize an individual’s dream.
A platform connecting individuals who want to make their dreams come true with those who want to support the dreams of others. The “dream” becomes the “shared assets” of the dreamer and the supporters. In the same vein as car sharing and room sharing, our platform will provide a “dream sharing service.”
FiNANCiE will provide a community that allows “dreamers” to find “fans” who are willing to walk hand in hand with them towards realizing their dreams. Whether you’re a dreamer or a supporter, the “dream” becomes a communal asset that enriches both parties. FiNANCiE is a platform for this kind of “fan economy.”
The younger generations, in their teens and twenties, have already realized that “material wealth doesn’t guarantee a fulfilling life.”
It’s easy to predict what will happen in the next ten years. Ai-powered machines will take over all tasks related to creating physical goods. Humans will no longer need to handle manual labor.
That means that humans will end up with a lot of free time on our hands. Haha. It would be on a whole different level from the current “workstyle reforms,” with four or even five days of break a week. Working hours would also likely be reduced to three to four hours a day. Humans are going to have a lot of free time.
The crucial question then becomes: how do we spend this newfound leisure time meaningfully? How can we use this surplus time to pursue happiness? This will ultimately determine how fulfilling our lives feel.
I believe that the key to spend the time meaningfully lies in “diversity.”
In product manufacturing, “Productivity” is “King”. However, in enjoying our newfound leisure time in the future, “Diversity” will be “King.” In other words, what each individual likes, thinks, and wants to do will become what is most important and respected.
Our aspiration is to nurture a society that brings out the best in people and encourages them to do what they think is “fun” — a society that embraces diversity.
I see FiNANCiE, the next-generation social media platform, at the core of such a society.
A “Shared Destiny” needs both “Dreams” and “Money”
Using our next-generation social media platform, we aim to redefine what it means to be a “fan.”
Traditionally, fans simply expressed one-sided sentiments like “I love you!” or “I’ll support you!” The fans of the future, however, will resonate with the dreams and visions of their stars, working together to achieve mutual success. We want to create a platform that allows dreamers and fans to “share in a common destiny.”
This dynamic is similar to the relationship between “entrepreneurs and venture capitalists.” The relationship between entrepreneurs and venture capitalists is very fascinating. Having experienced both roles, I can say that it is truly bizarre — like being friends and business partners at the same time.
I would not invest so much time to support the business of a mere “friend”. But when it involves business, I willingly offer substantial support. Conversely, I would not support a person I dislike even if it’s a lucrative business.
That is to say, one is only willing to fully commit to a “shared destiny” when both “dreams” and “money” are involved.
On FiNANCiE, those who invest in others’ dreams, like venture capitalists, are referred to as “Human Capitalists.” Human Capitalists provide financial support, offer advice, and help dreams scale up. On the other hand, we call individuals who want to realize their dreams “Heroes.”
Heroes are people with big dreams but do not know how to realize them. That is where Human Capitalists come in. Both parties share a common destiny, working together to make dreams come true.
How FiNANCiE helps communities realize dreams.
Think of FiNANCiE as a tool for managing fans. It might be a bit tricky to visualize, so let me break it down for you.
The app is comprised of profile pages and chat pages, like Slack. Let’s say there’s a girl who dreams of becoming a “top YouTuber.” She joins and gains around 10 fans at first. She might ask them, “How do I become famous?”
And one of her fans might suggest, “First, you need to produce interesting videos.” The girl might answer, “But I don’t know how to do that,” to which another fan might respond, “Why don’t I make videos for you?” and bit by bit, the dream takes shape.
In return, the girl can show her appreciation to her fans with “likes.” But these aren’t just any “likes”; they are valuable “tokens.” These tokens are backed by cutting-edge blockchain technology.
Fans help the girl pursue her dream in any way they can, whether it be editing videos or providing financial support. Their efforts will encourage more people to support her dream, who all work together to make her dream come true.
Starting with only 10 supporters, the girl becomes increasingly famous, reaching 1,000, 10,000, and eventually 1 million supporters. Throughout this journey, both she and her supporters find happiness. That is one example.
A System that Doesn’t “Exploit Fans.”
Our key principle is to create a mutually beneficial relationship between “dreamers” and their “supporters.”
Existing exclusive online communities, live streaming platforms with gifting features, and similar setups are, frankly speaking, basically a place for famous people to extract money from their fans. Fans offering support get nothing in return. We want to change that.
Dreamers feel good when people support them. They are grateful when they receive funding for their activities. For fans, it’s fulfilling to help someone else realize their dream. Fans can receive “like” tokens when they contribute, which makes them happy. And when the hero becomes popular, the value of the tokens also rises, benefiting everyone in the community.
This sets FiNANCiE apart from other existing fan-oriented services.
There’s an incentive to join early. For instance, if a hero is already popular and has about 10,000 fans, it is probably harder to get a “like” from them. It would be much easier if there are only about 10 fans. It is also usually cheaper to join a community in the early stages. It is designed so that the earlier you become a supporter, the bigger incentive you get.
Enter a world where dreams are valuable “assets.”
“Financie” is a French term. Add an “r” and it becomes “Financier.” It is the root word for “Finance,” which is one of its meanings. The other meaning of the word is “capitalist.”
Traditionally, a “capitalist” was someone who owned a lot of capital or real estate. However, I believe next-generation capitalists will be “people with numerous companions who support and collaborate to make their dreams come true.” On the other hand, there will also be capitalists who “support the dreams of others.”
With FiNANCiE, something like this may unfold:
Picture an elderly man with a decent amount of capital. Approximately 70–80% of his assets lie in real estate, stocks, and cash in the bank. He uses the remaining 20–30% of his assets to “support the dreams of young individuals.” “The dreams of others” also count as assets.
What kind of joy can one expect from such a scenario, you might ask.
I enjoy being an angel investor not because of the profits but because I get to see the genuine efforts of businesses to make the world a better place. Witnessing the success of businesses I invested in brings immense satisfaction. Such experiences have been limited to a handful of people who are lucky enough to be investors, but in the future, many people will get to enjoy these moments.
Imagine a financially deprived boy in Africa. He dreams of becoming a professional soccer player. Let’s say you decide to support him on FiNANCiE.
He puts in tremendous effort and scores a goal at the World Cup. In his post-game interview, he says, “I wouldn’t be here without the help of fans who supported me when I had nothing! Thank you!” How joyful would that make you feel? Surely a 3% or 4% capital interest rate is nothing compared to the fulfillment gained from such an impactful story.
In the future, “assets” will not only be limited to money and real estate but also “one’s bonds with other people.” I think it will become a significant form of asset. It works both ways — for the supporters and those being supported.
With the desire to “realize someone’s dream” as the axle, “goodwill” will make the world go round. I aspire to make this possible in the future with FiNANCiE.
Please also check out the following fantastic articles ^^:
Can FiNANCiE make “Joint-Stock Individuals” a reality? With over 150 Human Capitalists or Supporters, here are 3 key points about the platform
https://thebridge.jp/2019/03/financie-how-to-make-a-challenger
FiNANCiE, a token platform where “your dreams” are your supporters’ assets, surpasses 150 projects (NFT artist, Sports team, Japanese craftsman) and Supporters
https://prtimes.jp/main/html/rd/p/000000004.000042665.html
FiNANCiE Service Page:
https://financie.jp/home
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FiNANCiE Service Page: https://www.corp.financie.jp/en
Financie Token Page: https://fnct.xyz
Whitepaper: https://fnct.xyz/whitepaper/en
Coinmarketcap: https://coinmarketcap.com/currencies/financie-token/
Coingecko: https://www.coingecko.com/en/coins/financie-token
