BC CULTURE
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📖 Creator economy reading list

As we kick off 2021, here's a roundup of my favorite Creator Economy / Passion Economy reads from 2020, covering:

• State of the market
• State of creators
• Trends and insights
• Platform strategy

👇

 How many creators are there? Who are the key players? What are the key trends? If you're looking for an overview of the creator economy, this is a great place to start.

https://t.co/fJUxbVqAen by @YuanlingY, @JoshConstine
A different take on the creator economy map, but equally as interesting. This map categorizes 150+ companies by creator lifecycle: content creation, audience growth and ownership, monetization, and biz ops.

https://t.co/928VB6uFJO by @HugoAmsellem
How do creators build wealth?
• Promote other people's products
• Sell their own products
• Invest

https://t.co/dMXiW6VFzn by @mariodgabriele
What do creators sell?
• Sharing profits w/ an audience
• Borrowing from Reddit
• The @MrBeastYT Flywheel

https://t.co/clxNk1NNm3 by @mariodgabriele
Creators have a hierarchy of needs that follow a rough priority order from creation through to monetization.

It's hard to build an audience without finding a good niche, and it's hard to make money if you haven't built an audience.

https://t.co/Qh3OBbq7ds by @petergyang
In 2008, @kevin2kelly proposed that the internet would enable creatives to skip the middlemen and make a good living by engaging and monetizing fans directly.

Today, creators can make the same amount of money from even fewer fans.

https://t.co/zv1g6nKoD7 by @ljin18
Just like millionaires have an average of 7 income streams, the most successful creators have multiple revenue streams.

Enter, the Multi-SKU Creator.

https://t.co/WUiAnq3nnA by @hunterwalk
With more creators, content, and choice than ever before, consumers are in a state of analysis paralysis.

The real scarcity isn’t content. It’s attention.

As the amount of content grows, so does the market for credible curators.

https://t.co/3KFdkYgOnE by @gaby_goldberg
3 broad trends driving the future of creators:
1. Everyone can be creators
2. They have direct, authentic connections to communities
3. Creators have new tools to monetize their work

(Use "influencer" and "creator" interchangeably here)

https://t.co/4gkRmx95f2 by @rex_woodbury
Peter outlines 8 creator platform models that are universal. A must-read for both creators and the creator economy industry.

https://t.co/pnsf2mY359 by @petergyang
If you’re a startup building a platform for creators, here are the key metrics you'll want to track across success, revenue, engagement, growth, and community.

https://t.co/HNFwWfxK7o by @ljin18
It’s a common belief that in online communities, 90% of users are consumers/lurkers, 9% are contributors, and 1% are creators. This is often called the 90-9-1 rule.

This study found that this ratio may no longer be true.

https://t.co/30l1zXpIlM by @HigherLogic
Super Fan: someone who wants authentic interactions with a creator, and is willing to pay a lot for them.

Startups can grow by helping creators make money through authentic interactions with super fans.

https://t.co/9BRj4ZzlGw by @petergyang
The creative economy looks a lot like the U.S. economy — there are a few big winners and a lot of people hustling to make a living and barely getting by.

Here are 10 strategies for fostering the creator middle class.

https://t.co/ZWL4qzKmOO, https://t.co/C84Yh154qw by @ljin18
An insightful response to Li's article above from a self-confessed middle class creator:

• The value of a shoutout from a large account
• Attention to capital conversion efficiency
• Creator monetization strategy

https://t.co/0dS1irJ4Bm by @jomaoppa
2020 was a breakout year for the creator economy
• Substack has 250k+ paid subs
• Patreon is now valued at $1.2B
• OnlyFans earned $300M in profit
• Cameo handled $100M transactions
• Twitch 2X'd the number of streamers

https://t.co/pHgBkT8eaU by @sarafischer
What am I missing?

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The answer is artist Will Hulsey...


Will Hulsey was the undisputed king of the animal attack pulp cover. You name it, he'd paint it attacking you in a pool of stagnant water.


Very little is known about Will Hulsey, but he worked on a number of men's pulp magazines in the 1950s and early 1960s including Man's Life, True Men, Guilty, Trapped and Peril.


Their audience was ex-GIs: during WWII the US Council of Books in Wartime had given away over 122 million books to American servicemen to read; this led to a post-war surge in paperback and magazine sales amongst these newly enthusiastic readers.


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"I have made some bad decisions in my life..."

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"It's not you Mr Darcy, it's me..."

Pride and Prejudice, by Jane Austen. Bestseller Library, 1966.


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The Star Fox, by Poul Anderson. Panther Books 1968. Cover by Bob Haberfield.


Fangs For The Mammaries, edited by Esther Friesner. Baen Books 2010. Art by Clyde Caldwell.

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1/ Amazon is famous for its writing culture:

• "Mock press releases / FAQs" for new product pitches
• "6-page memos" instead of Powerpoint

Two former Amazon execs wrote a book called "Working Backwards" detailing the philosophy.

Here are some insights 🧵


2/ The "Working Backwards" playbook

Instead of creating a product then finding customers, Amazon asks "What does the customer need?" and works toward the product.

✅Customer need --> Create product
❌Create product --> Find customer

3/ Write a mock press release

To determine if the customer need makes biz sense, employees write a press release:

• What problem is the new product solving
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To persuade a customer, the document has to be jargon-free and tell a story.


4/ Press release forces big thinking

You don't write a press release for an incremental improvements.

Creating a product worthy of a press release means really solving a customer problem and going after markets with large TAMs.

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It's actually an old form of spycraft which is still in use today. And as it's #WorldRadioDay let's take a listen...


A Numbers Station is a type of one-way voice link for sending information to spies in foreign countries.

Operating on Short Wave radio bands they transmit a secret code of spoken numbers. Use of Numbers Stations peaked during the Cold War, but some are still operating today.


Numbers Stations are operated by various national intelligence agencies. At set times on a pre-arranged frequency a musical tone is played, followed by a speech synthesised voice reading out blocks of numbers. To most listeners it sounds both creepy and meaningless.


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Why broadcast your secret message on Short Wave? Because it can be picked up across the globe. All a spy needs is a shop bought SW radio, a pencil, and the correct One Time Pad and they - and only they - can decipher the message. No complex kit is required.
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