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You can't purchase a new car without a credit history, but you can download a Bollywood movie for free. And that's just one of the many contradictions in our modern day digital world. In this post, we explore some more. In the online world, if you want to make money from your creativity, you have to offer it up for free first. We’ve spent the last 20 years shifting from owning things to renting them and now we’re swapping those mp3s and movies on Netflix with YouTube videos and SoundCloud tracks with Spotify playlists – all the time working towards an increasingly shareable future. But of course, there’s more to the digital economy than free stuff. In this post we explore four paradoxes of the digital economy: how can you get rich from saving if you need a credit score to buy a house? Why would someone share something they’d made themselves when it can be pirated for free? How can internet entrepreneurs be so successful without any money at all? And what might life look like if all our digital transactions were charged by the millisecond instead of micropayments via mobile data plans? These are challenging ideas, good people at one time have worked on these problems. Whether it's for profit or not, companies are here to serve our needs. (Title:internet paradox) Half of all adults in the U.S. own a smartphone--and that number is set to grow. What does this mean for society? It can mean that more people are consuming media in the digital environment. But it also means many people are watching videos on their phones, rather than in traditional home formats like television, where full-length movies are filmed and broadcasted--and often bought via DVD or Blu-ray disc later on at home or online services like Netflix or Redbox at a cheaper price than cable or satellite TV. So how are people getting their media content? And what does this mean for the way media companies have to work? Just because many Americans have embraced digital media, doesn't mean it's being watched in traditional ways. The way people consume video is very different than the way they used to watch TV—and that will be more of a challenge for some content producers. And one indicator showing just how different it's become is something called Total Video Minutes Viewed (.tvm) which measures how many minutes of video are being consumed per person. Last year, that average rose 2%. The number of video minutes on YouTube alone, meanwhile, grew by 83% per person. And as Americans' attention moves away from the living room and onto mobile screens, they're increasingly watching video in bite-sized chunks. For instance, if you were watching a TV show previously, you may now be checking out a sneak peek of an upcoming episode for free on your smartphone. Or you may be waiting till the end of the week to watch your favorite show on your DVR like we used to do in the old days – but now we’re waiting till they’re available online because we don't have cable TV anymore. cfa1e77820
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