Over the past few years the economics of attention has fundamentallychanged—and that change has profound and deep implications for yourstartup. Sure, “building buzz around your startup” has always been highon every founder’s to-do list. But what has changed is what works, whatdoesn’t work, and what you need to do.

A decade ago, in the dot-com heyday, you built buzz by hiring a goodpublic relations firm (for about $30,000 a month, minimum) that wouldwoo and wheedle the computer trade press for a mention, a review, anything.And you could plan to spend a good $50,000 or more (way more)doing a launch event. Of course, all of this was just the prelude to a goodweb ad banner campaign chock-full of pop-ups, pop-downs, and pop-overs,all designed to scream louder than the other ads at the sucker watchingthe screen.

Back then, there was no Facebook or Twitter, no blogs or social networks,no news blogs, no social media. Attention was something you rippedout of (and ripped off) “consumers” with advertising and sycophant reviewsin trade magazines while “harvesting their eyeballs.”

The economics of attention online worked like strip mining: you blowup the attention of millions to garner a handful of sales, and who cared—everyone else did the same thing. You—the advertiser—were in the businessof stealing attention, or at least appropriating it without consent, via thetried-and-true process of hammering your message into thick consumerskulls.

This same approach is alive and well today—just turn on your television—but something else has arisen. It’s why Facebook has as many activeusers as Russia has “active citizens” and why social networks worldwideare growing, in terms of the number of participants, the depth of theirparticipation, and the effect others in these networks have on opinion,values, and buying decisions.

The preamble to the manifesto starts with: “We are not seats or eyeballsor end users or consumers. We are human beings—and our reachexceeds your grasp. Deal with it.”The  Online World reads like asocial network Declaration of Independence from traditional marketing.

• Markets are conversations.
• The Internet is enabling conversations among human beings that were simply not possible in the era of mass media.
• Corporations do not speak in the same voice as these new networkedconversations. To their intended online audiences, companies sound hollow, flat, literally inhuman.
• To speak with a human voice, companies must share the concernsof their communities.
• But first, they must belong to a community.
• Companies that do not belong to a community of discourse will die.
• Markets do not want to talk to flacks and hucksters. They want toparticipate in the conversations going on behind the corporate firewall.
• We are immune to advertising. Just forget it.Social Media and Your Startup 211
• You want us to pay? We want you to pay attention.
• We know some people from your company. They’re pretty coolonline. Do you have any more like that you’re hiding? Can theycome out and play?

We now have a new economy of attention online. First and foremost,are you interesting? If you’re not interesting, you’d better be prepared towork hard to bring interesting things to the global conversation to rescueyour startup from obscurity.The good news about how social networks have retooled who getsattention online is that the new rules favor startups.

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