Thread by @gregarious

For there to be a creator middle class, we need to invest in the next generation of creator platforms, not the demise of all platforms.

For the #creatoreconomy, this is the way.

Let me explain.. 🧵👇

There are 3 kinds of platforms at play today in the Creator Economy:

- Social Networks
- Creator Platforms
- Web3 Platforms

All of these have their strengths and weaknesses.

When evaluating any platform in this context we need to think about 4 factors:

- Convenience
- Control
- Currency
- Discovery

Let's look at each of these first...

Convenience is a measure of both how easy it is for a creator to leverage a platform and how easy it is for a consumer or fan to participate as well.

Given a simple or difficult option, most of us will choose the simple one.

Control is the degree to which we can configure and deploy the component parts of any system.

Systems with high control often bring with them more complexity and require expertise.

Systems with low control trade convenience for control.

Currency is the economic system that backs any platform. In our case, we're considering the options between fiat (cash) and crypto.

While crypto has many interesting, long-term values & implications, it is not as readily accessible or usable in standard day-to-day uses & needs.

Discovery is the most overlooked aspect of platform design and it is the difference between life and death for creators.

Without built-in discovery, creators and businesses must create awareness and interest through alternative means often organic or paid.

Social networks have these attributes:

- High convenience
- High discoverability
- Cash-backed
- Low/no control

Creator platforms have these attributes:

- Medium convenience
- Medium discoverability
- Medium control
- Cash-backed

Web3 platforms have these attributes:

- Low convenience
- Low discoverability
- High control
- Crypto-backed

These classifications may be controversial, but I believe they represent the center of most systems that are in existence today.

Social networks are established, creator platforms are emerging, and Web3 very much may be the future - but we are here today.

Social networks have an established business model that we can't completely resent - it birthed the creator economy itself.

They have lots of work to do and are rapidly evolving to retain their power position.

To see where they are going, we should look to Creator Platforms

Creator Platforms are a reaction to the ills of social networks and the promise of Web3 platforms, except they are available today and payout in the hard currency creators need to build a career, company, and future upon.

Creator "Platforms" are not all created equally. There are 3 types:

1. Networks - building an independent audience & discovery for creators and content
2. Platforms - building a collection of services & integrations for creators
3. Services - building capability for creators

Creator Networks most resemble Social Networks just on a different scale, currently.

Examples of networks in today's world might be @HappsNews @fanbaseapp @substack

Creator Platforms, proper, are tech-forward companies and serve as infrastructure for the creator web.

Examples of platforms today might be @Patreon @OnlyFans @pico

Creator Services are building high-control solutions for creators on or off the platform.

Examples of services today include @BuildWithSpore @LumaHQ @MavenHQ

These classifications are somewhat arbitrary and not meant to be a judgment - internal plans and missions may certainly telegraph a business from one to the other.

Each of these companies started somewhere and will end up somewhere else based on the market and teams.

While the difference between Services and Platforms may be harder to discern, networks have some unique attributes.

1. You provide discovery for other creators
2. You provide connectivity to other creators
3. You generate revenue directly with or without creator participation

Creator Platforms straddle the Social Networking and Web3 worlds. This has a couple of implications on how they eventually form.

1. Audiences are hybrid - rented from social platforms and terraforming communities for Web3

2. Currency is hybrid - blending fiat and crypto

In both cases, the mission of Creator Platforms is to help creators build new, external value from that same audience in the hopes that they can capture and retain some of them independently

My friend @mzuvella asked a good question, "What stops a creator platform from just becoming a social platform". I believe the answer lies with how they act.

Creator Platforms can stand apart if they:

1. Provide downloadable customer/fan data
2. Provide 1st party billing in all transactions
3. Provide clear/concise guidelines on fees
4. Provide negotiable financial terms & conditions
5. Focus on tech, not content

Web3 Platforms are the future of community but represent the transition not to a creator economy but to a community economy.

While we herald the ability to empower creators, its the fans who truly win.

Today, however, Web3 offers more promise than practicality - a function of its youth, not its ability.

In short, for most it is:

- Complex
- Exclusive
- Expensive

Creators with large audiences have the luxury to experiment with the potential of a highly engaged, invested community.

Smaller, emerging creators, however, would be best advised to investing their time and energy into building a meaningful business powered by a community today.

The creator middle class is fighting to find a footing. All our energies should be used building relationships and partnerships that allow us to first find independence, then prominence.

We can have the best of both worlds with patience and persistence.

These thoughts are jolting to many, I assume, but I welcome any and all feedback on how to build a better creator future!

Cheers!

p.s. we dove into this topic on this week's @CreatedEconomy show. Watch it here!