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What is the Biggest Risk For Passion Economy Startups?by@lijin
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What is the Biggest Risk For Passion Economy Startups?

by Li JinJuly 20th, 2020
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Aims to hedge against incumbents by offering more depth of value for creators. Platforms adding in direct monetization is a big risk though to new startups in the Passion Economy. Start w/ creators who have a pre-existing audience on large platforms, but quickly expand to fostering to new creators. Foster new social graphs that aren’t easily duplicated or subsumed by FB/LI/etc. Enable community among members, i.e. The “Come for the creator, stay for the network” approach: https://://://twitter.com/ljin18/status/1195412859733168128128128.

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Creators want a direct relationship with their own users, which is against the platforms’ DNA. E.g. FB restricts ability for large group admins to message members. Agree that platforms adding in direct monetization
features is a big risk though to new startups in the Passion Economy.
Here’s some tactics for startups to hedge against incumbents:

  • Offer more depth of value for creators. Not just payments but the entire value chain of creating content, merch, etc.
  • Start w/ creators who have a pre-existing audience on large platforms, but quickly expand to fostering to new creators
  • Let creators own their own audience
  • Foster new social graphs that aren’t easily duplicated or subsumed by FB/LI/etc
  • Enable community among members, i.e. the “Come for the creator, stay for the network” approach: https://twitter.com/ljin18/status/1195412859733168128

What else?

Originally published as “The biggest risk for Passion Economy startups"