The Hottest New Cryptocurrency: Social Capital

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Why have money lying around when it can be flowing in your social networks?

The founders of CollabSystem had one of our bi-weekly strategy sessions recently. Late into the night we realised something extraordinary. We are rich. We can make you rich too. We can get even richer making you richer. If that isn’t a start-up minimum value proposition, what is?

Social Expectations of Value

When you think about it our traditional stores of value are pretty arbitrary.  Who says lumps of gold are worth even their production costs? It is not like the stuff is in short supply on this planet. If we didn’t dig it out of the ground to store it away as a store of value, it would be largely worthless. The value is in the social expectation of value.

Through history we have attributed value in trade to all kinds of weird and wonderful things: tulips, shells, livestock, company stock, start-up options, and more. The value in each case is not inherent in the object. The value is in the social expectation of value.

Fiat currency is similar. We accept pieces of paper and digital records as reward for our work and in exchange for our goods because we think they are valuable. When fiat currency began it had to be backed by gold (See above). Now it is backed by nothing other than government promises of value.  Our belief in these promises is just a social expectation of value.

The ultimate proof of this proposition is cryptocurrency. We value cryptocurrencies because other people value cryptocurrencies. They are the ‘greater fool’ theory brought to life on a fancy blockchain ledger.  Even dogecoin the parody cryptocurrency is worth billions. We at CollabSystem are very jealous of any rich parody founders.

Converting Social Capital to Value

If social expectations of value is the foundation of value, then to get rich we need to hack these foundations. At CollabSystems, hacking the foundations of something critical is our bread and butter.

CollabSystems is beginning a big development project today to convert social capital to value. The Kardashians may have proven you can get rich by acting rich and being followed by a lot of people. CollabSystem wants to extend the value of social capital to everyone.

No longer will conference organisers promising to pay you with exposure leave you hungry. No longer will your boss and colleagues empty words of recognition leave you with the power cut off. No longer will the hours of thought leadership on social media be such a complete wasteful time suck.

CollabSystem is declaring today that Social Capital has value. Social capital is the ultimate social expectation of value. You are rich, powerful and influential because other people think you are. Now we just need to convince the rest of you to believe it. We think this should be easy. If you do start to value social capital, you will be rich.

PS If you would like more Social Capital, we are happy to give you some in exchange for any hard goods, fiat currency or gold (Cryptocurrencies excluded).

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