Yesterday's sharp drop in FB's stock value could just as easily be a blip on the radar as the harbinger of a downward spiral, but in any case, it has made me think about what a replacement social network might look like.
Maybe it's uncreative, but for this exercise, I'm going to start by imagining Facebook as is, but without its flaws. Facebook's successor would be different in the following ways:
Different monetization scheme
-Instead of Mark Zuckerberg becoming a multibillionaire by selling your data to advertisers, 90%+ of the revenue would go to you. Every user would automatically have a cryptocurrency account link to their user account, and users would get monthly payments. Users would be able to transfer the cryptocurrency to each other at no charge.
Better control of privacy
-There might be some basic information that users could not opt out of selling, such as sex, age group, and approximate location (within a 20-mile radius circle), but making available anything more than that would require the user to opt-in. There would be a simple checklist where each user could tick off boxes.
-Users could truly delete their own content, such as old messages, videos and photos. I don't think FB Messenger presently allows people to do this.
Default settings to combat cyberbullying
-By default, content posted by users would have the Comments feature disabled. If a user wanted to open their content up for comment, they would have to manually push a button or something each different time.
Decentralization of the platform
-Use of blockchain software.
-Harnessing of compute power of all user devices to store the site's data and to run the computations necessary to support the site's cryptocurrency.
These are just my preliminary ideas. I'd love to hear input.