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ChristianKl comments on Communities: A single moderator is often superior to the wisdom of crowds - Less Wrong
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The solution is to facilitate micropayments. People aren't going to spend as much money on topics that there's a surplus of. The more readily available something is... the less money that people are willing to pay for it. So facilitating micropayments will allow the crowd to help lift the scarcest/rarest and most valuable content to the top of the list.
Oranges used to be a luxury. In other words, an orange was uncommon but valuable content. Then what happened? Payment.
Orchids used to be a luxury. In other words, an orchid was uncommon but valuable content. Then what happened? Payment.
So we add (micro)payments to Reddit, Youtube, Less Wrong and what will happen? What will happen when we incentivize/reward people who produce scarce but valuable content?
50 Shades of Gray is the best novel because the most people payed for it?
"The Secret" is on of the most important personal development books because a lot of people brought it?
Heh. I started reading my gf's 50 Shades of Gray on her kindle... but I couldn't finish it because it was so bad. She liked it though. shrug
Here are two subreddits...
The same economics article isn't going to be equally valuable in both subs. In the first sub, Ha-Joon Chang's articles are going to be a lot more valuable than Peter Boettke's articles. And the opposite would be true in the second sub.
See how that would work? There's riches in niches.