Episode 44 - A Conversation with Minds CEO Bill Ottman

This week on Decentralized Talk

This week we have an extremely interesting and informative interview with the CEO of Minds.com, Bill Ottman. We deep dive into what Minds is, the problems with the current social networks, and how Minds is looking to solve them.

Is Minds another Facebook?

So, what exactly is Minds and do we really need a new social network? Simply put, unless you like having your data mined, shared, sold, and reviewed; you should learn about Minds. After the 2016 US presidential election and the debacle of Cambridge Analytical, the world got a glimpse of the true power of Facebook and social media.

Will Minds steal my data?

In the digital age, where data rules all; huge corporations like Facebook, Google, Microsoft, and Apple have the ability to manipulate information at will. Minds is looking to change that. Listen this week to hear Ottman explain how they intend to do so.

An open-sourced future awaits.

Minds is an open-sourced social network so everyone can see the algorithms that make up your personalized feed. Minds also does not mine your data or have default opt-in settings where privacy is all but surrendered to the company.

Crypto minded communities

Minds also integrates cryptocurrencies to pay content creators and viewers for their time. Ads can also be paid by using the Minds tokens, meaning the platform forms as its own small economy. Reports are that Facebook has been looking into implementing cryptocurrencies into their business model too. Time will tell if those rumors are real.

There are always downsides to everything, though.

Giving power back to the people doesn’t come without its risk and possible downsides, though. Some users have reported their feeds being polluted with stories and posts that are offensive or non-relevant to them. Bill Ottman’s answer to that complaint is that the “boost” feature (ads) helps weed out the echo chamber effect and as the community grows, these issues will shrink. We also discuss a few other risks in this week’s episode.

Ottman’s passion project

We go into detail about Ottman’s ideals, why he created Minds, how he sees the current system of social media, and how he believes Minds will revolutionize the industry. Ottman is passionately against the current trend of societies loss of privacy and wants to do something about it.

Make sure to tune in!

Join us this week when get to ask Bill Ottman about all about his vision and opinions on security, privacy, censorship, and a more decentralized world. We ask questions that will only be heard on Decentralized Talk. We also agree with the vision of a more decentralized world with better transparency. Minds is trying to do their part and we loved having their CEO on the show. Give this weeks episode a listen on any streaming platform you choose. If you enjoy the show, send us a like and subcribe to make sure not to miss our latest episodes!

Thanks so much for everyone that tunes in every week. We love every one of our audience members. As always Cryptos…
Stay Decent.