This is a question that often comes up in our conversations And one that we must be mindful of. Here are a couple points to consider though:
- Reputation thrives under diversity and contextuality, so building the stacked up structures that are common in the traditional economy are harder. For example a single, centralised top-down score for ‘who is the best film critic’ isn’t as effective as a fragmented mosaic of reputation scores. That’s because who I might consider a good film critic might differ from yours. Building reputation as an economy is the key here since it promotes this multi-dimensional approach.
- This might be worth an extended conversation - but I’ll put it out anyway. Since reputation is fundamentally non-zero-sum - there’s never a question of ‘inclusion’ as you do with money. Anyone can leverage the reputation economy as long as there is rich social fabric i.e. a community of people willing to validate your work.
We think these two point go a long way in building a meritocracy of sorts, and reducing some of the inequities that exist in the current economy system.