The Evidence

Curated research and sources on how the internet gets funded, and what happens when it does not.

This is the library. If you want to go deep — to cite something, to follow an argument to its source, or to write your own piece — this is where you will find the research.

It is not an exhaustive bibliography. It is a guided reading list, organised by question rather than by author or format. Each entry gets a short annotation explaining what it contributes and why it is worth reading.

The library is organised around these questions:

  • How do algorithmic feeds affect information quality and public discourse?
  • What is the real economics of independent media and creator sustainability?
  • How does ad-driven optimisation affect individual wellbeing and behaviour?
  • What models for direct and community funding are working, and at what scale?
  • What does the research say about subscription fatigue and giving behaviour?
  • How does open source funding (or lack of it) affect software infrastructure?

This section is actively maintained and will grow over time. Quality matters more than quantity — fifteen well-chosen, well-annotated sources are more useful than a hundred links with no guidance.

Sources that support specific claims in The Old Way are cross-referenced where relevant.

Last updated: April 2026.

How do algorithmic feeds affect information quality?

  • Evaluating Twitter's Algorithmic Amplification of Low-Credibility Content: An Observational Study Giulio Corsi, 2024

    Using 2.7 million posts on COVID-19 and climate change, this study measures how Twitter's algorithm treats low-credibility content. Tweets sharing information from low-credibility domains perform better in the algorithmic feed, with the effect concentrated among high-engagement, high-follower accounts.

  • Ranking for Engagement: How Social Media Algorithms Fuel Misinformation and Polarization Fabrizio Germano, Vicenc Gomez, Francesco Sobbrio, 2025 · paywalled

    A theoretical and empirical analysis showing a fundamental trade-off: weighting engagement signals such as likes and shares increases platform engagement but also increases misinformation and polarisation. Provides evidence that Facebook's 2018 "Meaningful Social Interactions" update contributed to increased ideological extremism, and proposes an "engagement tax" as a policy mechanism.

  • Start here Short-Term Exposure to Filter-Bubble Recommendation Systems Has Limited Polarization Effects Naijia Liu, Xinlan Emily Hu, Yasemin Savas, Matthew A. Baum, Adam J. Berinsky, et al., 2025

    An important counterweight to algorithmic panic. Four experiments with nearly 9,000 participants show that manipulating YouTube's recommendations to create filter bubbles and rabbit holes has no detectable short-term effect on political attitudes. Essential for a balanced evidence base, though it does not address longer-term or non-attitudinal effects.

  • Start here Engagement, User Satisfaction, and the Amplification of Divisive Content on Social Media Smitha Milli, Micah Carroll, Yike Wang, Sashrika Pandey, Sebastian Zhao, Anca D. Dragan, 2025

    An algorithmic audit of Twitter/X showing that its engagement-based ranking algorithm amplifies emotionally charged, out-group hostile content significantly more than a reverse-chronological baseline. Users themselves report wanting to see less of this divisive content, revealing a structural misalignment between what engagement metrics optimise for and what users actually value.

  • More Platforms, Less Attention to News? A Multi-Platform Analysis of News Exposure Tian Yang, Sandra Gonzalez-Bailon, 2025 · paywalled

    Analyses news exposure across TV, web, and YouTube for roughly 55,000 panellists over 39 months. Television still dominates news consumption at a ratio of more than five to one over online sources, complicating narratives about algorithmic feeds replacing traditional media.

What is the real economics of independent media?

  • Creator Economy Trends Report 2024 MBO Partners, 2024 · registration

    Annual survey tracking 8.9 million independent content creators in the US. The income distribution data is stark: 71% earn under $30,000 annually, only 9% exceed $100,000, and 34% make less than $5,000. Useful for grounding conversations about the "creator economy" in the reality that most participants are earning supplementary income, not a living.

  • Substack, the New 'Home' for Cultural Journalism MDPI Journalism and Media, 2024

    Peer-reviewed study examining whether newsletter platforms like Substack represent a genuine alternative media space or reproduce existing journalistic hierarchies. The most successful newsletters are overwhelmingly authored by already-established journalists, and algorithmic recommendations increasingly shape subscription behaviour.

  • Start here The State of Local News 2025 Medill School of Journalism / Northwestern Local News Initiative, 2025

    The definitive annual accounting of local news in America. The 2025 edition documents 213 news desert counties (a record), 136 newspaper closures in a single year, and a 45% plunge in web traffic to the 100 largest newspapers over four years. Also tracks the countertrend: over 300 digital news startups in five years, though overwhelmingly concentrated in metro areas.

  • Newspapers Fact Sheet Pew Research Center, 2024

    Pew's regularly updated fact sheet compiling industry data on newspaper circulation, advertising revenue, and newsroom employment over time. Print advertising revenue has fallen from roughly $49 billion in 2006 to a fraction of that, and digital advertising has never come close to replacing it. Valuable as a longitudinal data source.

  • Digital News Report 2024 Reuters Institute for the Study of Journalism, 2024

    Companion to the 2025 edition. Includes detailed data on willingness to pay for news across dozens of markets: only 17% globally say they are willing to pay, 57% will not consider paying anything, and among non-payers just 2% would pay the price of a full subscription. Suggests the news industry has already captured most of those willing to pay.

  • Start here Digital News Report 2025 Reuters Institute, 2025

    The most comprehensive annual survey of news consumption and payment behaviour across 47 markets. Essential reading for understanding how many people actually pay for news, why most do not, and what drives willingness to pay. The subscription fatigue findings are particularly relevant.

  • World Press Trends Outlook 2024-2025 WAN-IFRA (World Association of News Publishers), 2025 · registration

    A global survey of over 240 publishers across 85 countries documenting the structural shift in news revenue. For the first time, print circulation and advertising account for less than half of publisher revenue, while digital revenue has crossed the 30% threshold. Essential for understanding the global picture beyond US-centric data.

  • More Platforms, Less Attention to News? A Multi-Platform Analysis of News Exposure Tian Yang, Sandra Gonzalez-Bailon, 2025 · paywalled

    Analyses news exposure across TV, web, and YouTube for roughly 55,000 panellists over 39 months. Television still dominates news consumption at a ratio of more than five to one over online sources, complicating narratives about algorithmic feeds replacing traditional media.

How does ad-driven optimisation affect wellbeing?

  • The Anxious Generation: How the Great Rewiring of Childhood Is Causing an Epidemic of Mental Illness Jonathan Haidt, 2024 · paywalled

    The bestselling book arguing that smartphones and social media have driven a rise in youth anxiety and depression. Strongest where it catalogues mechanisms of harm (sleep deprivation, attention fragmentation, social comparison) and weakest where it claims a single causal story. Should be read alongside Vuorre and Przybylski's more cautious findings.

  • Stolen Focus: Why You Can't Pay Attention — and How to Think Deeply Again Johann Hari, 2022 · paywalled

    A New York Times bestseller that identifies twelve structural causes of the attention crisis, from tech design choices to pollution and diet. Hari's central argument is that attention collapse is systemic, not a personal failing, and that solutions must be collective.

  • Start here Engagement, User Satisfaction, and the Amplification of Divisive Content on Social Media Smitha Milli, Micah Carroll, Yike Wang, Sashrika Pandey, Sebastian Zhao, Anca D. Dragan, 2025

    An algorithmic audit of Twitter/X showing that its engagement-based ranking algorithm amplifies emotionally charged, out-group hostile content significantly more than a reverse-chronological baseline. Users themselves report wanting to see less of this divisive content, revealing a structural misalignment between what engagement metrics optimise for and what users actually value.

  • Dopamine-Scrolling: A Modern Public Health Challenge Requiring Urgent Attention B. T. Sharpe, R. A. Spooner, 2025

    Distinguishes "dopamine-scrolling" from doom-scrolling as a distinct behavioural pattern driven by variable reinforcement schedules rather than anxiety. Identifies the pursuit of novel, entertaining content and rapid platform switching as a reward-mechanism-driven habit with public health implications.

  • Social Media and Youth Mental Health: The U.S. Surgeon General's Advisory Office of the U.S. Surgeon General, 2023

    The most high-profile institutional statement on social media and youth wellbeing, finding that teens spending more than three hours daily on social media face double the risk of depression and anxiety. Important not as the final word on the science -- the evidence is more nuanced than the advisory suggests -- but as the document that shifted the policy conversation.

  • The Impact of Social Media Use Interventions on Mental Well-Being: Systematic Review Mariek M. P. van Olst, Hanneke Hendriks, Eline S. Smit, 2023

    A systematic review examining whether interventions that change social media use actually improve mental wellbeing. Finds that interventions are effective, especially for depression and when therapy-based approaches are used. Practically useful because it moves beyond correlation to test whether changing behaviour changes outcomes.

  • Start here Global Well-Being and Mental Health in the Internet Age Matti Vuorre, Andrew K. Przybylski, 2024 · paywalled

    A large-scale study in Clinical Psychological Science analysing data from 2.4 million people across 168 countries over two decades. Finds only small and inconsistent changes in global wellbeing and mental health, with no consistent link to internet and mobile broadband adoption. The most important counterweight to simplistic "social media is destroying mental health" narratives. Does not dismiss harm, but insists on precision about its scale.

  • Demystifying the New Dilemma of Brain Rot in the Digital Era: A Review A. M. F. Yousef, A. Alshamy, A. Tlili, A. H. S. Metwally, 2025

    A rapid review examining cognitive decline from overconsumption of low-quality digital content. Synthesises research from 2023-2024 linking doomscrolling, zombie scrolling, and social media addiction to emotional desensitisation, cognitive overload, and psychological distress.

What models for direct funding are working?

  • On the Role of Social Media Platforms in the Creator Economy Alexander Bleier, Beth L. Fossen, Michal Shapira, 2024 · paywalled

    A peer-reviewed study in the International Journal of Research in Marketing mapping the roles platforms play in the creator economy: connecting actors, supporting content creation, and facilitating monetisation. Provides a useful academic framework for understanding creator-platform dependencies and the structural power platforms hold over funding flows.

  • Beyond Fans: The Relational Labor and Communication Practices of Creators on Patreon Ross Bonifacio, Lee Hair, Donghee Yvette Wohn, 2023 · paywalled

    Qualitative study based on interviews with 21 Patreon creators examining the relational labour required to sustain a patronage income. Creators construct relationships with patrons ranging from transactional to familial, and emotional support from patrons is as important as financial support for sustainability. Reveals the hidden labour costs of direct-funding models that aggregate statistics often obscure.

  • Quantifying the Creator Economy: A Large-Scale Analysis of Patreon Lana El Sanyoura, Ashton Anderson, 2022

    The most rigorous large-scale academic study of Patreon, analysing the complete set of pledges exceeding $2 billion from 2013 to 2020. Examines the membership platform from three perspectives -- patrons, creators, and the platform as a whole -- and finds that patrons who pledge to a narrow set of creators are more loyal but churn off the platform more often.

  • The Creator Economy Could Approach Half-a-Trillion Dollars by 2027 Goldman Sachs Global Investment Research, 2025

    Goldman Sachs estimates the total addressable market for the creator economy at $250 billion in 2025, growing to $480 billion by 2027. Only about 4% of global creators earn more than $100,000 annually, with brand deals constituting roughly 70% of revenue. Useful for scale and growth data, though its framing is oriented toward investor opportunity rather than creator welfare.

  • Platform Cooperatives and Employment: An Alternative for Platform Work OECD, 2023

    An OECD working paper providing the most comprehensive institutional overview of platform cooperatives as employment alternatives to conventional gig platforms. Documents working conditions, challenges in scaling, and policy recommendations. Moves beyond individual patronage models to examine structurally different ownership forms for digital platforms.

  • Sustainable Funding for Small Businesses: An Investigation into the Dynamics of the Recurring Crowdfunding Model Yee Heng Tan, Srinivas K. Reddy, 2024 · paywalled

    Peer-reviewed study analysing 3,229 crowd patronage projects (Patreon-style recurring funding, as opposed to one-off Kickstarter-style campaigns). Finds that incentivising mechanisms (tiered rewards, exclusive content) have a long-term impact on patronage sustainability, while project characteristics have only short-term effects. One of the few rigorous empirical studies of the recurring funding model that underpins much independent media.

  • Fundraising Report 2023-2024 Wikimedia Foundation, 2024

    Detailed data on one of the largest digital public-good fundraising operations in the world. Over 8 million donors across 200 countries gave an average of $10.58 in FY 2023-24, sustaining $168 million in revenue. The declining average donation size and the operation's reliance on banner campaigns provide a real-world case study in both the potential and the fragility of grassroots digital giving at scale.

What does research say about subscription fatigue?

  • 2025 Digital Media Trends Deloitte, 2025

    Deloitte's annual consumer survey covering streaming, social media, and digital entertainment. The 2025 edition finds that 47% of consumers feel overwhelmed by subscription management, 75% are frustrated by recurring price increases, and 61% would cancel their favourite streaming service over a $5 monthly increase. Documents the broader subscription fatigue environment in which news competes for wallet share against entertainment.

  • Unsubscribing From Over-the-Top: How Subscription Fatigue and Mental Coupling Affect Multi-Homing Users DongA Jeong, Sang Woo Lee, 2025

    Peer-reviewed study examining the psychological mechanisms behind subscription cancellation. Identifies two distinct factors: "subscription fatigue" (the burden of managing multiple platforms) and "mental coupling" (the constant cost-benefit evaluation users perform). Coupling is the stronger driver of cancellation, suggesting that perceived value relative to cost matters more than sheer subscription volume.

  • Digital News Report 2024 Reuters Institute for the Study of Journalism, 2024

    Companion to the 2025 edition. Includes detailed data on willingness to pay for news across dozens of markets: only 17% globally say they are willing to pay, 57% will not consider paying anything, and among non-payers just 2% would pay the price of a full subscription. Suggests the news industry has already captured most of those willing to pay.

  • Start here Digital News Report 2025 Reuters Institute, 2025

    The most comprehensive annual survey of news consumption and payment behaviour across 47 markets. Essential reading for understanding how many people actually pay for news, why most do not, and what drives willingness to pay. The subscription fatigue findings are particularly relevant.

  • Sustainable Funding for Small Businesses: An Investigation into the Dynamics of the Recurring Crowdfunding Model Yee Heng Tan, Srinivas K. Reddy, 2024 · paywalled

    Peer-reviewed study analysing 3,229 crowd patronage projects (Patreon-style recurring funding, as opposed to one-off Kickstarter-style campaigns). Finds that incentivising mechanisms (tiered rewards, exclusive content) have a long-term impact on patronage sustainability, while project characteristics have only short-term effects. One of the few rigorous empirical studies of the recurring funding model that underpins much independent media.

How does open source funding affect infrastructure?

  • Roads and Bridges: The Unseen Labor Behind Our Digital Infrastructure Nadia Eghbal, 2016

    The foundational report that framed open source software as public infrastructure. Commissioned by the Ford Foundation, it argued that digital infrastructure should be treated as a public good and that money alone would not solve sustainability problems without understanding open source culture. A decade on, the problems it identified have only intensified.

  • Start here The Value of Open Source Software Manuel Hoffmann, Frank Nagle, Yanuo Zhou, 2024

    A Harvard Business School study estimating that firms would need to spend $8.8 trillion to replace existing open source software -- roughly 3.5 times their current software spending. Built on the most complete measurement of OSS usage to date. The single most striking quantification of how much economic value rests on largely uncompensated open source labour.

  • 2024 Open Source Software Funding Report Linux Foundation, GitHub, Harvard University, 2024 · registration

    The most comprehensive survey of how organisations fund open source, finding that responding organisations collectively invest $1.7 billion annually, with 86% of that value being employee labour rather than direct financial contributions. Only 4% of financial contributions go directly to maintainers. Makes visible the enormous gap between the economic value open source creates and the resources directed to sustaining it.

  • Census III of Free and Open Source Software -- Application Libraries Frank Nagle, Kate Powell, Richie Zitomer, David A. Wheeler, 2024

    The most comprehensive measurement of which open source libraries are actually used in production, based on over 12 million observations across more than 10,000 companies. Confirms that much of the most widely used open source software is maintained by only a handful of contributors. Essential for understanding where open source infrastructure is most vulnerable.

  • Wolves in the Repository: A Software Engineering Analysis of the XZ Utils Supply Chain Attack Piotr Przymus, Thomas Durieux, 2025

    A detailed forensic analysis of the XZ Utils backdoor (CVE-2024-3094), in which an attacker spent 2.6 years building trust in an under-resourced open source project before injecting a critical backdoor into Linux compression infrastructure. Makes the abstract problem of open source underfunding viscerally concrete: this is what happens when critical infrastructure depends on overstretched volunteer maintainers.

  • 2024 Open Source Maintainer Survey Tidelift, 2024

    Annual survey of open source maintainers covering compensation, burnout, and sustainability. The data on how many maintainers are unpaid — and how that affects the software infrastructure everyone depends on — is sobering and concrete.

Platform economics and governance

  • The Cognitive and Moral Harms of Platform Decay Michael J. Ardoline, Edward Lenzo, 2025 · paywalled

    A philosophy paper in Ethics and Information Technology arguing that platform decay constitutes genuine cognitive and moral harm. Using the extended mind framework, the authors show that when platforms degrade, they damage users' cognitive capacities and undermine conditions for developing virtuous character. A rigorous philosophical complement to empirical accounts of platform decline.

  • On the Role of Social Media Platforms in the Creator Economy Alexander Bleier, Beth L. Fossen, Michal Shapira, 2024 · paywalled

    A peer-reviewed study in the International Journal of Research in Marketing mapping the roles platforms play in the creator economy: connecting actors, supporting content creation, and facilitating monetisation. Provides a useful academic framework for understanding creator-platform dependencies and the structural power platforms hold over funding flows.

  • Start here The 'Enshittification' of TikTok Cory Doctorow, 2023

    The essay that named the pattern: how platforms attract users with surplus value, then extract that value for shareholders. A strong, well-articulated perspective on platform decay. Not gospel, but the clearest framing of why platforms that start good tend to get worse.

  • Quantifying the Creator Economy: A Large-Scale Analysis of Patreon Lana El Sanyoura, Ashton Anderson, 2022

    The most rigorous large-scale academic study of Patreon, analysing the complete set of pledges exceeding $2 billion from 2013 to 2020. Examines the membership platform from three perspectives -- patrons, creators, and the platform as a whole -- and finds that patrons who pledge to a narrow set of creators are more loyal but churn off the platform more often.

  • Ranking for Engagement: How Social Media Algorithms Fuel Misinformation and Polarization Fabrizio Germano, Vicenc Gomez, Francesco Sobbrio, 2025 · paywalled

    A theoretical and empirical analysis showing a fundamental trade-off: weighting engagement signals such as likes and shares increases platform engagement but also increases misinformation and polarisation. Provides evidence that Facebook's 2018 "Meaningful Social Interactions" update contributed to increased ideological extremism, and proposes an "engagement tax" as a policy mechanism.

  • The Creator Economy Could Approach Half-a-Trillion Dollars by 2027 Goldman Sachs Global Investment Research, 2025

    Goldman Sachs estimates the total addressable market for the creator economy at $250 billion in 2025, growing to $480 billion by 2027. Only about 4% of global creators earn more than $100,000 annually, with brand deals constituting roughly 70% of revenue. Useful for scale and growth data, though its framing is oriented toward investor opportunity rather than creator welfare.

  • Second Wave of Attention Economics: Attention as a Universal Symbolic Currency on Social Media and Beyond Maxi Heitmayer, 2025

    Proposes a model for understanding attention as a currency that can be accumulated and exchanged, distinguishing between "calcified" attention (stored metrics such as follower counts) and "flow" attention (real-time engagement). Updates the theoretical framework of attention economics for the social media era.

  • The Enshittification of Work: Platform Decay and Labour Conditions in the Gig Economy Michael D. Maffie, Hector Hurtado, 2026 · paywalled

    Published in the British Journal of Industrial Relations, this peer-reviewed study extends the concept of enshittification from social media platforms to labour conditions. Based on 30 interviews with long-term gig workers, it identifies three mechanisms of value extraction over time: burden shifting, feature alteration, and market manipulation. Moves the enshittification framework from polemic to empirical labour research.

  • Creator Economy Trends Report 2024 MBO Partners, 2024 · registration

    Annual survey tracking 8.9 million independent content creators in the US. The income distribution data is stark: 71% earn under $30,000 annually, only 9% exceed $100,000, and 34% make less than $5,000. Useful for grounding conversations about the "creator economy" in the reality that most participants are earning supplementary income, not a living.

  • Substack, the New 'Home' for Cultural Journalism MDPI Journalism and Media, 2024

    Peer-reviewed study examining whether newsletter platforms like Substack represent a genuine alternative media space or reproduce existing journalistic hierarchies. The most successful newsletters are overwhelmingly authored by already-established journalists, and algorithmic recommendations increasingly shape subscription behaviour.

  • Platform Cooperatives and Employment: An Alternative for Platform Work OECD, 2023

    An OECD working paper providing the most comprehensive institutional overview of platform cooperatives as employment alternatives to conventional gig platforms. Documents working conditions, challenges in scaling, and policy recommendations. Moves beyond individual patronage models to examine structurally different ownership forms for digital platforms.

  • Start here The Attention Merchants: The Epic Scramble to Get Inside Our Heads Tim Wu, 2016 · paywalled

    The foundational history of attention as a commodity, tracing the business model of "free content in exchange for attention, sold to advertisers" from penny newspapers through radio, television, and into the internet age. Wu shows how every new medium eventually becomes an advertising platform. Essential historical context.

Attention as a resource

  • The Cognitive and Moral Harms of Platform Decay Michael J. Ardoline, Edward Lenzo, 2025 · paywalled

    A philosophy paper in Ethics and Information Technology arguing that platform decay constitutes genuine cognitive and moral harm. Using the extended mind framework, the authors show that when platforms degrade, they damage users' cognitive capacities and undermine conditions for developing virtuous character. A rigorous philosophical complement to empirical accounts of platform decline.

  • Start here The 'Enshittification' of TikTok Cory Doctorow, 2023

    The essay that named the pattern: how platforms attract users with surplus value, then extract that value for shareholders. A strong, well-articulated perspective on platform decay. Not gospel, but the clearest framing of why platforms that start good tend to get worse.

  • The Anxious Generation: How the Great Rewiring of Childhood Is Causing an Epidemic of Mental Illness Jonathan Haidt, 2024 · paywalled

    The bestselling book arguing that smartphones and social media have driven a rise in youth anxiety and depression. Strongest where it catalogues mechanisms of harm (sleep deprivation, attention fragmentation, social comparison) and weakest where it claims a single causal story. Should be read alongside Vuorre and Przybylski's more cautious findings.

  • Stolen Focus: Why You Can't Pay Attention — and How to Think Deeply Again Johann Hari, 2022 · paywalled

    A New York Times bestseller that identifies twelve structural causes of the attention crisis, from tech design choices to pollution and diet. Hari's central argument is that attention collapse is systemic, not a personal failing, and that solutions must be collective.

  • Second Wave of Attention Economics: Attention as a Universal Symbolic Currency on Social Media and Beyond Maxi Heitmayer, 2025

    Proposes a model for understanding attention as a currency that can be accumulated and exchanged, distinguishing between "calcified" attention (stored metrics such as follower counts) and "flow" attention (real-time engagement). Updates the theoretical framework of attention economics for the social media era.

  • Dopamine-Scrolling: A Modern Public Health Challenge Requiring Urgent Attention B. T. Sharpe, R. A. Spooner, 2025

    Distinguishes "dopamine-scrolling" from doom-scrolling as a distinct behavioural pattern driven by variable reinforcement schedules rather than anxiety. Identifies the pursuit of novel, entertaining content and rapid platform switching as a reward-mechanism-driven habit with public health implications.

  • Start here The Attention Merchants: The Epic Scramble to Get Inside Our Heads Tim Wu, 2016 · paywalled

    The foundational history of attention as a commodity, tracing the business model of "free content in exchange for attention, sold to advertisers" from penny newspapers through radio, television, and into the internet age. Wu shows how every new medium eventually becomes an advertising platform. Essential historical context.

  • Demystifying the New Dilemma of Brain Rot in the Digital Era: A Review A. M. F. Yousef, A. Alshamy, A. Tlili, A. H. S. Metwally, 2025

    A rapid review examining cognitive decline from overconsumption of low-quality digital content. Synthesises research from 2023-2024 linking doomscrolling, zombie scrolling, and social media addiction to emotional desensitisation, cognitive overload, and psychological distress.