"The Levels of Hype and the Importance of Paying Writers"

"The Levels of Hype and the Importance of Paying Writers"

Introduction:
Hype is a fascinating concept that can be both misleading and beneficial. When it comes to introducing new technologies, hype plays a crucial role in attracting resources like people and investments. It acts as a glue, creating a shared vision and driving the actors in the same direction. The levels of hype range from marketing claims to irrational exuberance, and understanding them is essential. On the other hand, the internet has transformed journalism but also disrupted its business model. This led to the creation of Substack Pro, a program that paid writers for their work, regardless of the publication's performance. This article explores the different levels of hype and the importance of compensating writers.

Level 1: Marketing Claims
At the first level of hype, companies rely on standard marketing speak. They focus on the immediate benefits of existing technology. These claims, although informative, may not fully represent the capabilities of the technology.

Level 2: Exaggerated Claims
Moving up the scale, level 2 involves greatly exaggerating the effects and impact of an existing technology. The focus is on enticing investors by promising significant returns on their investments. While these claims are still grounded in reality, they may stretch the truth to attract attention.

Level 3: Utopian Futures
Level 3 hype revolves around positioning a technology as the key to a utopian future or the prevention of a dystopic one. Boosters emphasize the potential of the technology rather than its present benefits. This approach aims to attract further investment and political support by painting a promising future.

Level 4: Magical Thinking
At level 4, the technology becomes detached from reality and takes on magical properties. It is expected to solve numerous problems effortlessly, while criticism is disregarded as minor hurdles. The blockchain industry serves as a prime example, as it has been overselling the capabilities of the technology for years, claiming it can solve every societal challenge.

Level 5: Othering
Level 5 represents the most aggressive and annoying form of hype. The technology becomes a group identity for its boosters, and claims are exclusively utopian. Critics are labeled as defenders of the old, to be left behind. The time of arrival becomes less important; what matters is the belief that the technology will eventually succeed.

The Importance of Paying Writers
As the internet transformed journalism, the traditional business model was broken. Substack recognized this and created Substack Pro, a program that ensured writers got paid for their work, regardless of the publication's performance. By taking on most of the financial risk, Substack aimed to establish trust and reliability. Writers who join Substack Pro commit to a minimum publishing frequency and, in return, receive a guaranteed income for the first year. Afterward, they keep 90% of the subscription revenue. Substack's approach allows writers to retain ownership and control over their publications while contributing to the Substack ecosystem.

Conclusion:
Understanding the different levels of hype is crucial when evaluating new technologies. While hype can be misleading, it also plays a vital role in attracting resources and creating a shared vision. On the other hand, paying writers is essential to support the quality of journalism in the digital age. Substack's approach with Substack Pro demonstrates the importance of compensating writers and allowing them to maintain ownership over their work. To navigate the world of hype and support writers effectively, here are three actionable pieces of advice:

1. Approach hype with skepticism: Evaluate claims critically and do thorough research before jumping on the bandwagon of a hyped technology.
2. Support independent writers: Recognize the value of diverse voices in healthy discourse and consider subscribing to and paying for independent publications.
3. Promote transparency and accountability: Encourage platforms and publishers to prioritize transparency in compensating writers and ensure fair revenue sharing models.

By understanding the levels of hype and supporting writers, we can navigate the ever-changing landscape of technology and journalism more effectively.