Gyaan Sutra On entrepreneurship and technology

Jason of Netscape and Sequoia, writes about his strategy on how to beat digg. Link

I have an offer to the top 50 users on any of the major social news/bookmarking sites:

We will pay you $1,000 a month for your “social bookmarking” rights. Put in at least 150 stories a month and we’ll give you $12,000 a year. (note: most of these folks put in 250-400 stories a month, so that 150 baseline is just that–a baseline).

Now, this offer is going to get a big response I know, so we’re going to have to limit to a dozen or so folks. However, I’m absolutely convinced that the top 20 people on DIGG, Delicious, Flickr, MySpace, and Reddit are worth $1,000 a month and if we’re the first folks to pay them that is fine with me–we will take the risk and the arrows from the folks who think we’re corrupting the community process (is there anyone out there who thinks this any more?!).

He wants to do it this way, because he believes that companies should share their wealth. And also because he thinks that content creation from the masses is a big joke.

The concept of “free” content producers, which I think WIRED called crowdsourcing, is going to be a short-lived joke. A loophole in the content business that will be closed by savvy startups which identify the top 5% of the audience and buy their time.