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Why Controversy Is So Rewarding Online (and Is There a Different Way Forward?) – ReadWrite

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Nate Nead


Have you noticed that most content creators, marketers, and other online personalities like to generate controversy? They make a debatable claim, take a strong political stance, or even personally attack another personality – and then watch as their viewers and readers fight it out in the comments.

Even mainstream news organizations have capitalized on this trend, sacrificing accuracy (and sometimes, journalistic integrity) to make their readership outraged on purpose – or at least “stir the pot” with controversial claims.

It’s no secret that controversy sells. But why is controversy such a powerful instrument online? And, assuming controversy is as unhealthy as it feels, is there a different way forward?

The Gifts of Controversy

The power of controversy comes from many overlapping factors.

For example:

  •         Differentiation. The web is packed full of content, with new posts and videos published on a constant basis – yet 75 percent of published content gets 0 external links. In other words, the vast majority of content isn’t informative, interesting, or useful enough to warrant the acquisition of links. If you write the same, vanilla content as everyone else, you’re not going to get any attention. But if you write something less commonly accepted, or something provoking, you’ll at least stand out from the crowd; even if your content quality is lower, you’ll earn a major competitive advantage because of this.
  •         Direct engagement. Controversial content is much more likely to engage an audience. Imagine a post on social media that reads, “Scientific study finds that most people think puppies are cute.” How many comments will that receive? How much discussion will that generate? A few people will say scientists are wasting time and money proving what we already know, but that’s about it. Now imagine a post that reads “Scientific study finds that people who think puppies are cute are more likely to be serial killers.” Whether it’s true or not is immaterial; what matters is that this second post is much more likely to get people talking – and as we all know, highly engaging posts tend to perform better in every category.
  •         Relevance and interest. Generally speaking, it’s better to have a small, dedicated, loyal audience than a large one that’s mostly indifferent. By taking controversial stances, you’ll be alienating a portion of your audience, but those who remain will likely find your content to be much more relevant and interesting. Post enough controversial content, and you’ll eventually generate a kind of cult following.
  •         Novelty. Controversial statements are controversial because they’re some combination of new, rare, or disputed. In all of these cases, controversy stands out from normal, routine opinions and commentary. Creating controversial content is a way to provide people with new, exciting material.
  •         Information, research, and understanding. In many cases, controversial content lends itself to a better informed, more robust discourse environment – and one that can lead to better public understanding, assuming they’re getting controversial takes on both side of a disagreement. For example, a moderate stance on U.S. healthcare won’t generate controversy. Articles with controversial opinions on the subject, like pushing for Medicare-for-all or completely deregulating the market, will generate controversy – and if you read both these takes, you’ll probably walk away with a more thorough understanding of the variables and considering factors involved.

In Defense of Controversy

Controversy often makes us uncomfortable. It makes us argue, it makes us confused, and it calls into question our understanding of various topics. But controversy isn’t always a bad thing.

For starters, controversy can be a way of getting closer to the truth. In legal settings, it’s important to have both a prosecuting attorney and a defense attorney; this way, the most extreme views of the case get equal representation, and jurors can figure out where the “middle ground” truth is. Stating an extreme case can sometimes reveal flaws in conventional schools of thought – and get us closer to the actual truth.

We can also think of controversy as a form of strengthening our ideological immune systems, so to speak. Being exposed to bad ideas and controversial ideas forces you to think critically – and can make you scrutinize other materials you find online more closely.

The Ramifications of Controversy

That said, there are some downsides to excessive posting of controversial ideas.

For example:

  •         Extremism and political polarization. Political polarization is nearing an all-time high in the United States, in part because of the prominence of extreme controversial content. Outrageous claims push people to one side or the other – and moderate candidates with reasonable positions tend to lose consistently to louder, more polarizing figures. While this hasn’t completely eroded our political system yet, the emergence of more radical voices is troubling to many.
  •         Misinformation and resulting threats. Controversial content isn’t always “good” content. Some people stir controversy by making bold predictions, misrepresenting data, or selectively leaving out crucial information; when this happens, it often leaves major segments of the population grossly misinformed – and potentially encouraged to take violent action based on that misinformation.
  •         Mental health and wellbeing. Even if you know the content you’re reading is low-quality, inaccurate garbage, seeing it can be distressing. It’s concerning to know that content like this not only exists but is rewarded, and that a small but significant percentage of the population actually believes it. It’s simply not good for our mental health or general wellbeing.

What’s the Alternative?

Here’s the biggest problem. If an overabundance of controversial content is a bad thing, then what’s the alternative? What change could we make to de-incentivize controversy while preserving the rest of our content-hungry environment?

The only suitable solutions require massive overhauls to our existing institutions – or a fundamental change to human nature.

Since this isn’t particularly doable, your best option is to exercise authority where you can, by taking control over your own content. Feel free to lean into controversial content, but create it with the following in mind:

  •         Accuracy and integrity. Don’t generate controversy by lying, misreporting, or blowing things out of proportion. Focus on accuracy and your integrity as a content creator.
  •         Fair and full topical exploration. If you’re exploring a controversial or touchy issue, try to “steel man” the opposing side, outlining their position generously. If done right, it can serve to inform people and make your case even more persuasive.
  •         Respect and politeness. Don’t generate controversy by attacking, insulting, or otherwise disrespecting other people; it’s not productive, informative, or kind.

Similarly, you can change how you choose to engage with content online:

  •         Limit engagement with provocateurs. When you notice a particular creator or institution is consistently churning out low-quality, provocative content, stop engaging with them. Don’t react to every outrageous thing you see online, and don’t add comments to comment sections that have potential to become veritable dumpster fires.
  •         Support high-quality content in all forms. When you find creators and institutions that create high-quality, thoughtful pieces of content, support them. That could mean subscribing to them, sharing their work, or just interacting with them regularly.
  •         Encourage others to follow your example. Help people in your social circles learn the power of controversial content – and encourage them to vet their sources carefully. There’s not much you can do to change the habits of the entire human population, but even if you change a few minds, you can make a positive impact on the world.

Controversy itself isn’t a strictly bad thing. In many scenarios, ample controversy can bring attention to important matters or help people hash out the truth in a complex situation. But it’s hard to argue that controversy has no ill effects – and that a penchant for controversial, outrage-worthy content isn’t something we should strive for. Since we can’t rewrite the internet overnight, and we may not want to anyway, our best option is to strive for higher integrity and accuracy – and try not to get too riled up when we see opinions we don’t like online. 

 

Nate Nead

Nate Nead is the CEO & Managing Member of Nead, LLC, a consulting company that provides strategic advisory services across multiple disciplines including finance, marketing and software development. For over a decade Nate had provided strategic guidance on M&A, capital procurement, technology and marketing solutions for some of the most well-known online brands. He and his team advise Fortune 500 and SMB clients alike. The team is based in Seattle, Washington; El Paso, Texas and West Palm Beach, Florida.

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Politics

Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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Politics

UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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