You know how email services, search engines, and social networking sites all seem to have advertisements that are serendipitously tailored to your current text-related interests? Example: you get an email about ordering some photo prints and on the side of the page, there's suddenly an advertisement for Epson photo printers! It's miraculous! And, as you may or may not know, it's also lucrative.
Companies pay advertising dollars to places Google, Yahoo, and Facebook for these sorts of targeted campaigns. Chevy calls up Yahoo and says "Here's a bunch of money. If anyone searches the word 'Impala', we want our ad to be the first thing they see." And then Yahoo (and the advertiser, obviously) makes more money every time you search something to which an advertisement is attached. But what do you get out of this whole deal which completely hinges on your involvement? Nothing. Not a dime.
Several companies aim to change this (and naturally make money of their own). Among them is a San Francisco start-up called Bynamite. I won't bore you with the details. By now, you're just wondering, "great, Justin but how do I get PAID?" To quote the company's co-founder, Ginsu Yoon:
"In a few years, a person’s profile of interests could be the basis for micropayments or discounts. A media company, for example, might charge a monthly subscription fee of $10 for news or entertainment programming, but offer it for $8 to those who exchanged their preference wallets. The discount, in theory, would be justified because advertisers would pay more to market to people whose interests they knew precisely and thus were more likely to buy."
Perfect. It's like the digital version of selling your soul, and I can't wait. I tick a few boxes on a Bynamite profile and then I get a check every two weeks from ESPN.com and Canon. Sounds good to me.
Companies pay advertising dollars to places Google, Yahoo, and Facebook for these sorts of targeted campaigns. Chevy calls up Yahoo and says "Here's a bunch of money. If anyone searches the word 'Impala', we want our ad to be the first thing they see." And then Yahoo (and the advertiser, obviously) makes more money every time you search something to which an advertisement is attached. But what do you get out of this whole deal which completely hinges on your involvement? Nothing. Not a dime.
Several companies aim to change this (and naturally make money of their own). Among them is a San Francisco start-up called Bynamite. I won't bore you with the details. By now, you're just wondering, "great, Justin but how do I get PAID?" To quote the company's co-founder, Ginsu Yoon:
"In a few years, a person’s profile of interests could be the basis for micropayments or discounts. A media company, for example, might charge a monthly subscription fee of $10 for news or entertainment programming, but offer it for $8 to those who exchanged their preference wallets. The discount, in theory, would be justified because advertisers would pay more to market to people whose interests they knew precisely and thus were more likely to buy."
Perfect. It's like the digital version of selling your soul, and I can't wait. I tick a few boxes on a Bynamite profile and then I get a check every two weeks from ESPN.com and Canon. Sounds good to me.
