Generation Z is mastering a modern paradox: they’re cashing in on the very data that tech giants have long exploited for free. This phenomenon has been propelled by the launch of Verb.AI, a new initiative from Generation Lab, a youth polling company that has embraced this trend by compensating young users for sharing their digital activities. The mobile application allows Gen Z members to be financially rewarded for something they do in abundance—scrolling through their phones—essentially allowing them to transform their time online into an income stream.
According to reports, Gen Z spends approximately 6.6 hours per day consuming various forms of media, making them the most engaged demographic in today’s digital landscape. This generational obsession with content is not just a pastime; it’s a lifestyle enshrined in their identity. With this backdrop, Verb.AI offers payments of $50 or more monthly for users who allow access to a tracker that creates a “digital twin,” providing in-depth behavioural insights for clients ranging from political groups to venture capitalists. As Cyrus Beschloss, the CEO of Generation Lab, stated, “We think corporations have extracted user data without fairly compensating people for their own data.”
The app's model not only appeals to the financial needs of young people but also speaks to their progressive mindset regarding data privacy. Over 88% of Gen Z is open to sharing personal information with social media companies, a figure significantly higher than that of older generations. Yet, this willingness comes with caveats; younger users are acutely aware of the need for boundaries. A McKinsey study noted that this cohort is more inclined to invest in privacy protections, often deleting data after use or paying for services that ensure their security. This nuance reflects a balanced relationship with technology—one that encompasses both monetisation and a keen awareness of potential risks.
Moreover, Gen Z’s media consumption habits reveal a complex tapestry of behaviours. While they are often seen as ‘doomscrolling,’ the reality is that their consumption includes a wide array of activities, from binge-watching streaming services to continuously interacting on social media platforms. They are willing to spend an average of $97.70 monthly on subscriptions, signifying their commitment to high-quality, curated media experiences. Yet, the overwhelming nature of constant content availability is evident, with nearly two-thirds admitting to feelings of media fatigue.
Experts like Natasha Thapar-Olmos, a psychology professor, stress the importance of understanding the underlying causes of this intense media engagement to develop effective interventions. Rather than merely criticising the behaviour, they advocate for reflection and awareness among users, encouraging them to log their media habits to identify triggers for excessive consumption.
In a broader cultural context, the emergence of platforms like Verb.AI signifies a shift in the digital economy, where user data is no longer seen merely as a commodity but as a negotiable asset. By becoming active participants in data collection rather than passive sources, Gen Z is rewriting the rules of engagement with corporations, ensuring they receive compensation for their contributions to the digital market.
As Verb.AI seeks to attract 5,000 users by fall, it epitomises the entrepreneurial spirit of Generation Z, who, faced with surveillance and data monetisation by larger entities, prefer to take control and profit from their digital lives. In a world where "selling plasma" is akin to monetising personal data, it seems that Generation Z is not only savvy but also significantly ahead in navigating the complexities of their digital environment.
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Source: Noah Wire Services