Summary of the Key Points
The core argument of this article is that the explosion of AI is destroying the "attention economy" system that has been in place on the internet for over 20 years. In the past, the internet treated "attention" as a form of currency—users contributed their attention, platforms gathered it, and advertisers bought it. However, AI can generate unlimited content and simulate interactions (such as robot-generated likes and comments), making attention less scarce, much like printing too much money leading to inflation. This has triggered a chain of changes in industries such as search, advertising, and media, with the value of the real world (real experiences, relationships, actions) becoming the new "hard currency."
Detailed Breakdown and Interpretation
1. Why the Attention Economy is "Collapsing"? — The Original "Currency" has been Unlimitedly Printed by AI
For the past 20 years, the internet's model has been to exchange attention for money: you use apps like TikTok or follow public accounts, contributing your attention; platforms then package this attention and sell it to advertisers; company valuations were also based on attention metrics (such as DAU/MAU). Attention was valuable because everyone only has 24 hours a day, making it naturally scarce.
But with the advent of AI, this scarcity has been shattered:
- AI can generate tens of thousands of articles and millions of images in just minutes; by 2025, AI-generated content will account for more than 52% of all online content.
- Robots can also simulate interactions: likes, comments, and shares are all API-driven, not genuine human reactions.
This is like a central bank printing unlimited money—there's now an abundance of "fake attention," causing the original attention currency to depreciate.
2. The Crisis of "Disappearing Clicks" in the Search Industry — Has Google Lost its Profit Source to AI?
Google used to make money through the process of "search → click → website → ad": users searched for something, clicked on a website, and the website generated revenue from ads, with Google taking a cut. However, AI summarization tools now display answers directly on search results pages, eliminating the need for users to click:
- Since the launch of Google's AI summarization, website clicks have decreased by 30%, and the click-through rate for top-tier content has dropped from 0.073 to 0.026.
- AI companies are even more aggressive: OpenAI requires 1,500 page views to earn one click for a website, while Anthropic needs 60,000 views.
While this is convenient for users, websites lose ad revenue without clicks, and the SEO industry (which helps websites rank higher in search results) is facing extinction—the traditional search business model is broken.
3. The Advertising Industry Needs to Change Its Revenue Model — From "How Much is Seen" to "How Much is Actually Done"
There used to be a saying in the advertising industry: "Half of the ad budget is wasted, but we don't know which half." The AI era makes it even worse: ads may be shown to robots, and clicks and likes could be fake, leaving advertisers unsure whether their money is being spent on humans or machines.
In the future, advertising will need to be paid based on actual results:
- Instead of charging per thousand impressions (CPM) or per click (CPC), ads might be charged based on real actions (CPR)—for example, only when users visit a store to try out a product, complete a course, or use a service.
- There may even emerge "attention-based accounts" where users have a limited daily allowance of attention that brands must bid for, with brands offering discounts or benefits in return. Advertising will shift from being forced on consumers to becoming a service.
4. Media Must Transform to Survive — From "Selling Eye-Catches" to "Promoting Actions + Verifying Authenticity"
Traditional media relied on selling attention: users read an article, and the media sold that time of attention to advertisers. But with AI filtering out irrelevant ads, this model is no longer effective. Advertisers will ask: "Out of 100,000 views, how many people actually went to the store?"
In the future, media needs to do two things:
- Promote real actions: For example, writing an article about running shoes that encourages users to try them on in person, not just focusing on page views.
- Verify authenticity: AI can generate perfect reviews, but it can't conduct on-site interviews or verify facts. Media that sends reporters to verify events will become more valuable because their content reflects real experiences.
5. The Real World Becomes the "Desired Currency" — What AI Can't Replace is What's Truly Valuable
AI can write about West Lake, but it can't stand on the Broken Bridge and feel the breeze for you; it can create photos of music festivals, but it can't attend the concert for you. The increasing prices of concerts, the difficulty in signing up for marathons, and the popularity of City Walks are not due to a rise in consumption but because these real experiences cannot be replicated by AI.
The future logic of internet transactions will change from "have you seen it?" to "have you really been there?" For example:
- Brands will no longer just sell products; they will help users build a "real resume" of what they have bought and where they have been.
- The value of social platforms will not be based on the number of users but on the proportion of real users.
- Identity systems will need to prove that you have truly existed.
Final Conclusion
AI has made attention less scarce, rendering the internet's old currency obsolete. What will be valuable in the future is what AI cannot take away: real people, real relationships, and real experiences. This doesn't mean the internet is dying; rather, it is adapting to new rules of the game.