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I wrote my first long essay!
There's been lots of buzz around the Passion Economy recently, so I decided to dive into why it matters and why now is the perfect time to get involved.
Here are the 4 big trends
https://anquetil.substack.com/p/-the-passion-economy-why-now
There's been lots of buzz around the Passion Economy recently, so I decided to dive into why it matters and why now is the perfect time to get involved.
Here are the 4 big trends
https://anquetil.substack.com/p/-the-passion-economy-why-now
1. The Rise of Creators 
#1 YouTuber in 2011 - 5M subscribers
#1 YouTuber in 2020 - 106M subscribers
As more people use platforms like YouTube, Twitch, TikTok, creators on the internet have become superstars - think Charli D'Amelio, Casey Neistat, Michelle Phan, Ninja.
#1 YouTuber in 2011 - 5M subscribers
#1 YouTuber in 2020 - 106M subscribers
As more people use platforms like YouTube, Twitch, TikTok, creators on the internet have become superstars - think Charli D'Amelio, Casey Neistat, Michelle Phan, Ninja.
They've developed significant cultural influence and people (especially kids) aspire to be them!
Combine this with the rise in mid-size creators with reasonable audience sizes (~10,000+), and the job of creator is suddenly more approachable.
People ask themselves "Why not me?"
Combine this with the rise in mid-size creators with reasonable audience sizes (~10,000+), and the job of creator is suddenly more approachable.
People ask themselves "Why not me?"
This builds a self-perpetuating loop - viewers become creators, creators bring in new viewers, more creators bring in more revenue, which can bring in more viewers, etc..
2. Increased Monetization Options 
Now, through Patreon and other platforms, creators can get paid directly by their fans!
They can focus on selling subscriptions or products rather than ads, creating stability.
These income streams aren't exclusive, but some bring in more $
Now, through Patreon and other platforms, creators can get paid directly by their fans!
They can focus on selling subscriptions or products rather than ads, creating stability.
These income streams aren't exclusive, but some bring in more $
A loop also forms! As more monetization and creation platforms arise to solve the needs of current creators, more people will feel comfortable creating BECAUSE the tools exist.
ex: Gumroad simplifies the process of selling an e-book, so people are more likely to even start!
ex: Gumroad simplifies the process of selling an e-book, so people are more likely to even start!
3. Search for Community 
As traditional social media platforms grow, people find them increasingly saturated and noisy.
This can make it harder to find people with similar niche interests and make genuine connections.
Creators can be the solution!
As traditional social media platforms grow, people find them increasingly saturated and noisy.
This can make it harder to find people with similar niche interests and make genuine connections.
Creators can be the solution!
Through their content, creators have the potential to offer great communities!
Directly, through free or paid communities Discord, Slack, Circle, etc..
Indirectly, communities can be found anywhere, like in the comments of a niche TikTok or even a marble racing video.
Directly, through free or paid communities Discord, Slack, Circle, etc..
Indirectly, communities can be found anywhere, like in the comments of a niche TikTok or even a marble racing video.
4. Acceleration by COVID-19 
Finally, the adoption of the Passion Economy is being significantly accelerated by COVID-19.
As we stayed home, we looked for ways to spend our time (and $) on the internet.
We connected more, discovered more, and created more.
A few charts
Finally, the adoption of the Passion Economy is being significantly accelerated by COVID-19.
As we stayed home, we looked for ways to spend our time (and $) on the internet.
We connected more, discovered more, and created more.
A few charts
Gumroad: 40% jump in creators with a sale in 6 months. 50% increase in payments volume!
Etsy: Sales are up 93% from this time last year if you don’t include masks (147% if you do!)
Twitch: Huge increases in # of channels and viewers
The Passion Economy is exciting because it offers everyone an opportunity that didn't exist before: the ability to make a living by educating, entertaining and helping others
Creators can do what they love & build a life on their terms, offering them a precious resource: freedom
Creators can do what they love & build a life on their terms, offering them a precious resource: freedom
If you’re seeking that freedom, jump in!
Create! Entertain! Teach!
There’s always a need for more diverse and unique voices, interests, skills.
And if you want to create that freedom for others, maybe build something for creators!
There’s no better time than now.
Create! Entertain! Teach!
There’s always a need for more diverse and unique voices, interests, skills.
And if you want to create that freedom for others, maybe build something for creators!
There’s no better time than now.
That's it! La fin!
If this was interesting to you, please subscribe to Generally Speaking as I continue to explore the Passion Economy!
Up next: how creators take the leap. https://anquetil.substack.com/welcome
If this was interesting to you, please subscribe to Generally Speaking as I continue to explore the Passion Economy!
Up next: how creators take the leap. https://anquetil.substack.com/welcome
Thank you so much to everyone who gave me much needed feedback on the essay, specifically @harshita_kk @sandeep98suresh @pratimanga @smikatoots @davidfromkansas @ThePreritOberai @KananRengaraju @NotZachDavidson @MelisaSeah @kavya_ravikanti 
