The Vediohead Mission Statement

Back in 2014, I conducted a data-collection programme tailored to certain industries - industries that needed a steady stream of prospects, industries like retail real estate and financial advisory.  Sales professionals were my target audience.  It wasn’t hard to figure out why this course was relevant to their success.

Programme attendees were taught how to extract contact details from a certain social media platform for professionals.  These details can then be downloaded onto a spreadsheet, and fed into a mass mailing system that came with the programme.  The attendees can email these contacts at any time, for whatever products or services they were selling.  In order to help the attendees extract maximum value out of these contacts, they were also taught proper email etiquette (do not hard-selling or send spam, and setting timelines to keep in contact even with non-responding mails).

The Eureka moment came when I was pitching the programme to a property group with a very diverse agency force.  There were the young and eager professionals, the new hungry team leaders, and the old-timers - people who were there before anyone else, and have stayed on through the many boom-bust cycles.  When I opened to the floor for questions after my presentation, one such old-timer raised her hand.  Her question, simple in its assumption, was this - “Why should I pay to attend this course, when I can get the contacts for free myself?”

I can’t remember the answer I gave to that question.  And it mattered little, in the context of things. 

Over the next few days, that question stuck to me.  She was right.  All the personal contact details were voluntarily uploaded by platform users.  Personal data is seen as the acceptable price to pay for access to platforms and services.  Madam Old-Timer could go into my profile and take all my details in literal minutes.

While these platforms ply the data pools that are now their property to businesses for profit, users do not get a share of the profit.  Should they not be entitled? After all, they are the basis of the profits to begin with.  To add insult to injury, some platforms have a paid tier for access to additional features.  And the data of these premium users’ data are still sold for advertising or data-mining purposes.  Everything seemed tilted against consumers.  They give up information and privacy, merely to be given access.

These thoughts gave birth to Vediohead. 

Imagine an equitable, a fairer social media platform, where users get a share of profits.  Imagine a platform where users are only asked for bio data that matter (not your name, not your contact details and not your residential address).  Imagine a platform where we store that information in a decentralised manner.

A safe, anonymous, and profitable way for our users to monetise their personal data and social habits.

This is what Vediohead is all about. 


Terence Tee
Founder
Vediohead