The original internet allowed everyone to contribute to it without exploitation and curation by big tech monopolizing cyberspace. Big tech spends billions on user acquisition and retention systems (gamification x algorithms) that optimize for short term profits for its shareholders rather than building long-term value that truly benefits all stakeholders.
The cause of this is that shares do not decouple governance from profit. To resolve these issues we introduce a governance model that represents the players themselves in the decision-making process. Despite these issues, the value that is created by big tech is tremendous and it may be argued that it offsets the issues it created. For this reason, YOM is crossing paths with big tech, but doing it somewhat differently.
YOM is therefore run more like a community rather than a traditional company. This means several things. For starters, communities are bound by stories rather than P&L's and members contribute because of recognition rather than salaries. Additionally, a fitting governance model is needed to represent rather than exploit its users. It should be a self-sustainable system that is fundamentally driven by the value of the ecosystem rather than just by its profitability.
To resolve these challenge, we embed these communities as formal stakeholders in the governance structure of YOM and make it rewarding for every demographic to participate. For this reason, this chapter is dedicated to exploring the communal aspects of YOM and how we formally represent them in the company.