What is being run, unintentionally by YouTube and its army of content generators, is a massively parallel search algorithm that evolves and optimizes itself to find every facet of human weakness. Networks effects on the internet allow it to run at an unprecedented speed and scale.
There is a certain ironic beauty to how destructive the system as a whole becomes. Everyone gains. The content producer, YouTube and the advertisers are locked in an addictive feedback loop. Even the users gain through the quantity and diversity of content.
Exactly like the housing bubble, everyone including the rating agencies did well right up till the end.
Unlike the housing bubble no one loses in the end. Sure, the Youtube revenue stream will dry up but that's the nature of the business. Either the content providers will move on to The Next Big Thing(TM) or will just be replaced by someone else. I don't think any of them believe that they can continue doing this for 30 years.
There is a certain ironic beauty to how destructive the system as a whole becomes. Everyone gains. The content producer, YouTube and the advertisers are locked in an addictive feedback loop. Even the users gain through the quantity and diversity of content.
Exactly like the housing bubble, everyone including the rating agencies did well right up till the end.