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| Turning social interaction into social good |
The basic idea behind majamba.me is to turn social interaction into social good. Now if we can convince 100 million members to join, we will be able to empower 100M people on the planet living close to subsistence level and make a dent on global poverty.
Here are the details behind the claim:
1. People spend thousands on gifts during family events and festivals. Of course, we know how things go during Christmas. However economic uncertainty does impact gifting, donations and other altruistic actions undertaken by normal people.
2. One thing that is UP during the uncertain times is the time people spend on social networks. Comparing notes and finding out new things, recommending, interacting and just passing time, yes, people are spending around 20% of their time on social networks.
3. So let us say we were to find an ingenious way to reward people around $1K of handmade goods as social gifts for doing the social things they like to do on the Internet.
4. Now imagine, 100M people getting rewarded $1K per annum. Yep do the math, that's around $100B of gifts.
5. Let us take a scenario that these gifts are sourced from artisans and families that are living at subsistence level, mostly around $2.50 a day. Now an average boost of $1,000 of additional income will make a sizable impact on their quality of life. So $100B worth goods will have a positive impact on around 100M people living around the poverty line.
Aha, you may be wondering who is footing the bill - advertising!
Companies spend well over $600B on advertising and sales promotion. Now people are spending around 20% of their time on social media. So if companies start to put around $120B on advertising on social media and start to use networks like majamba.me that reward people for doing good. This will set off a virtuous cycle where more people will be getting gifts for free; helping each other; a services exchange will emerge; more companies will use these platforms (competition is a good thing as it expands the market quickly) to get their message to the customers in a cheap way and more jobs and dignity for the artisans of the world.
Yes, you got it! It's just simple social innovation! Coming your way on the 2nd of October 2011.
1. People spend thousands on gifts during family events and festivals. Of course, we know how things go during Christmas. However economic uncertainty does impact gifting, donations and other altruistic actions undertaken by normal people.
2. One thing that is UP during the uncertain times is the time people spend on social networks. Comparing notes and finding out new things, recommending, interacting and just passing time, yes, people are spending around 20% of their time on social networks.
3. So let us say we were to find an ingenious way to reward people around $1K of handmade goods as social gifts for doing the social things they like to do on the Internet.
4. Now imagine, 100M people getting rewarded $1K per annum. Yep do the math, that's around $100B of gifts.
5. Let us take a scenario that these gifts are sourced from artisans and families that are living at subsistence level, mostly around $2.50 a day. Now an average boost of $1,000 of additional income will make a sizable impact on their quality of life. So $100B worth goods will have a positive impact on around 100M people living around the poverty line.
Aha, you may be wondering who is footing the bill - advertising!
Companies spend well over $600B on advertising and sales promotion. Now people are spending around 20% of their time on social media. So if companies start to put around $120B on advertising on social media and start to use networks like majamba.me that reward people for doing good. This will set off a virtuous cycle where more people will be getting gifts for free; helping each other; a services exchange will emerge; more companies will use these platforms (competition is a good thing as it expands the market quickly) to get their message to the customers in a cheap way and more jobs and dignity for the artisans of the world.
Yes, you got it! It's just simple social innovation! Coming your way on the 2nd of October 2011.
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