New podcast with Patreon cofounder @samyamiam & a16z editor @laurenmurrow! We discuss drivers of the Passion Economy, what it encompasses (it's broader than just creative fields), & lots more.
It's more salient than ever, as events & brand income dries up
a16z.com/2020/04/17/pas…
It's more salient than ever, as events & brand income dries up
a16z.com/2020/04/17/pas…
The future of work is now: many talented individuals are stuck at home, worried about work, and exploring new ways to earn money.
Online-first marketplaces providing accessible sources of income (Outschool, VIPKid) & tools in the entrepreneurship stack (Substack, Zoom) can help.
Online-first marketplaces providing accessible sources of income (Outschool, VIPKid) & tools in the entrepreneurship stack (Substack, Zoom) can help.
Patreon is one of the original Passion Economy platforms where creators earn income directly from fans. In March, Patreon saw its fastest growth in years.
That same growth bump holds true across many other platforms that offer individuals entirely online ways to monetize.
That same growth bump holds true across many other platforms that offer individuals entirely online ways to monetize.
I believe this period is a major catalyst for online entrepreneurship:
• Creators will see the necessity of diversifying income beyond ads, and will find ways to offer value and charge users directly (leveraging platforms like Pietra, Cameo, Gumroad, Mighty, Superpeer & others)
• Creators will see the necessity of diversifying income beyond ads, and will find ways to offer value and charge users directly (leveraging platforms like Pietra, Cameo, Gumroad, Mighty, Superpeer & others)
• Lots of hobbyists will use this time to build out their work & hone their skills. Some will turn it into their professions.
This goes beyond what we traditionally think of as "creative" work, and includes anything that leverages original ideas/non-commoditized skills
This goes beyond what we traditionally think of as "creative" work, and includes anything that leverages original ideas/non-commoditized skills
• Creative workers will explore flexible paths to making income online, and some will want to remain independent even after full-time jobs return (e.g. @contrahq).
@JuliaLipton found that 50% of laid off workers are open to consulting
@JuliaLipton found that 50% of laid off workers are open to consulting
• Offline services providers will employ creativity & software to translate their services online, and some of the new formats may stick around post-quarantine, given lower cost and greater convenience.
E.g. music teachers teaching over video; makeup artists doing Zoom consults
E.g. music teachers teaching over video; makeup artists doing Zoom consults
"Once consumers get used to accessing services digitally — from older restaurants finally embracing online ordering, or newspapers finally going all-digital — these industries may find it hard to go back to traditional operations."
axios.com/coronavirus-pu…
axios.com/coronavirus-pu…
I'm excited about how software can democratize work opportunities, and for consumers, how it can enable greater access to online services that can be cheaper and more convenient than their offline counterparts.
For more on the Passion Economy and how new digital platforms are forging new types of work, check out my original blog post.
"New digital platforms enable people to earn a livelihood in a way that highlights their individuality."👇
a16z.com/2019/10/08/pas…
"New digital platforms enable people to earn a livelihood in a way that highlights their individuality."👇
a16z.com/2019/10/08/pas…
And read my “100 True Fans” post, which builds on @kevin2kelly's classic “1000 True Fans.” It outlines an alternate monetization path for creators, shifting from a donation model ➡️ value model in which users pay more for something that benefits themselves
a16z.com/2020/02/06/100…
a16z.com/2020/02/06/100…
