It was Herbert Simon who first talked of the attention economy: “Hence a wealth of information creates a poverty of attention and a need to allocate that attention efficiently among the overabundance of information sources that might consume it.” Now we see what the value of attention is. Ours is way below USD 11.86, but not zero and rising. What this means in dollars and cents for Facebook can be seen in numbers contained in its first-quarter financial results, released on Wednesday.
It was in 2009 that LIRNEasia first engaged systematically with the interaction of taxation and ICT promotional policies. This was when working on an assignment for the OECD. We had of course engaged with mobile-only taxation in Sri Lanka and in Bangladesh. But the issues were simple back then. No discriminatory taxes that treated mobile services as demerit goods.
One out of six minutes on Facebook for average Americans. With women spending four times the time. Consumer brands, from the beer giant Budweiser to start-ups like the clothier Trunk Club, want to reach people where they are spending their time. More and more, that place is Facebook. In June, the social network accounted for about one of every six minutes that Americans spent online, and one of every five minutes on mobile phones, according to comScore, a research company.
A fascinating discourse among five researchers on how ICT use may or may not affect the brain, while being completely cut off from electronic communications (except for one satellite phone). A long piece, but well worth the read. “Attention is the holy grail,” Mr. Strayer says. “Everything that you’re conscious of, everything you let in, everything you remember and you forget, depends on it.