Can the Economy Have Your Attention, Please? w/ Scott Wallsten

The Dynamist

As the saying goes, “if the service is free, you are the product.” In the social media age, many companies don't compete for our money, but for our time. While many traditional entertainment companies increasingly rely on monthly subscription fees, social media products like TikTok and Instagram are “free,” powered by consumer data used to sell advertising. What platforms compete with each other for our attention? Does watching TV make you less likely to use social media? Or are you just scrolling the small screen while watching the big screen? As policymakers consider the nature of competition and issues involving “Big Tech,” such as data privacy, how should they factor in how much attention consumers pay to different platforms?

Joining us to discuss all of this is Scott Wallsten, President of the Technology Policy Institute and a PhD economist with broad expertise. His prior roles include stints at the FCC and White House Council of Economic Advisers. Read TPI’s paper on the attention economy here.