2. TIME IS MONEY: A DELVE INTO TODAY’S ATTENTION ECONOMY

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When many people think of the word “economy,” images of money, coin, and trading may come to mind. However, in the modern digital age, instead of vying for our money or material objects, companies instead fight for something much more valuable: our time. 

Like many people, I had never heard of the “attention economy” before until I took a media literacy class; however, discovering it was like unmasking a wolf in sheep’s clothing. According to an article by student Rai Hasen Massoud, “The attention economy is a system in which human attention, a finite and valuable resource, is treated as a commodity: captured, analyzed, and traded for profit by digital platforms and advertisers. In this model, attention becomes the currency, and platforms like Facebook, YouTube, Instagram, and TikTok act as brokers.” 

If you use social media, watch movies on a streaming platform, or even use Gmail, you’re a victim of the attention economy. Whether it be the fact that we’re constantly being bombarded by ads or how streaming platforms have autoplay to keep us hooked, tech companies have a variety of ways of taking our time. In fact, many of us are responsible for “media multi-tasking,” which is when we simultaneously engage in multiple types of media. For example, I have a bad habit of pulling out my phone and playing a game or reading an email while a movie is on the TV.

Although it may seem like a non-issue, there’s certainly ethical concerns raised given that we are nothing more than cattle to the tech giants making millions off of us. These companies are in competition with each other and this is a battle in which we, the consumers, have no power in. In Netflix’s The Social Dilemma, in which different, former executives of tech giants are interviewed, and one of the quotes that stuck out to me was: “If you’re not directly being sold a product, then you are the product.” Either way is a lose-lose situation because no matter what, you are just a money-maker to these companies, not an actual person. Because of the power imbalance, there’s also concerns about how tech companies are able to shape our world and influence populations, with or without cooperation. Whether it be our opinions or the habits we pick up because of technology, there’s no denying the fact that people revolve around technology, not the other way around.

In a world in which our eyes are constantly glued to our phones, it’s also important to remember that our attention should be focused on the things that matter, whether it be our personal relationships with one another or devoting your time to a hobby you love. Often, I’m frustrated with myself because I feel as though I lack the time to devote myself to any of my hobbies; truthfully though, I do have time– it’s the phone that’s the issue. According to an article by Brigham Young University, “ research shows that cell phones interrupt face-to-face interactions (FTFI) in relationships and can make conversations less meaningful. 2,6 Technoference is a large problem with young adults who are dependent on their smartphones.6” In this article, the authors also give meaningful insight into the different aspects of a personal relationship that can be affected when cellphone addiction is involved.

Because of how involved technology and social media is in our everyday lives, it’d be impossible to remove them or ignore their influences. Instead of placing responsibility on them, we as consumers should instead focus on recognizing our own addictions and limiting our consumption of media. Even little things such as setting screen time limits and choosing to turn off autoplay on Netflix would make a difference in helping yourself pull away from the attention economy. The most important thing right now though is spreading awareness about the attention economy because the more people that are cognizant of the attention economy, the more impact we can have standing up against tech giants.

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