Li Jin on The Passion Economy & Its Hidden Currency

Li: ...I think the internet uniquely unlocks this opportunity for the next generation and all subsequent generations.  This is different from just “be your own boss.” You can do that in the gig economy. But with a gig, you’re doing really rote commoditized, kind of repetitive work, where the platform is telling you exactly what to do.  Wh... See more

The Passion Economy Demands Creator-Format Fit

Transparency Creates A Steep Power Law James: And so we’re back to the power-law problem. Which is that some people are very charismatic and other people just aren’t. Some people are really fast, and smart, and interesting to listen to and some people aren’t... And these attention systems we have today — and this identity of the individual with the... See more

When people typically talk about the attention economy, they’re referring to creators amassing the attention of an audience, and then, after they have the attention, they’re able to monetize that attention in all sorts of different ways...I think what’s really interesting about NFTs and some of the new creator economy products that are coming into ... See more

...a lot of people make businesses to compete with tools where people are already making money. I know in marketplaces, we often see people design marketplaces to try to intermediate or digitize transactions that are already happening.  But the big mental breakthrough is to say, “Can we create something that creates new transactions that aren’... See more

Success Key #2: Founder-Market Fit ... it’s really important for the Founder of those startups to have great founder market fit, to have really deep customer empathy, to be like basically one of them.

NFTs and The Act of Ownership  Something NFTs allow you to do is identify that one true super fan who is willing to pay a really high amount and allow a creator to earn a lot off of not that many followers.  Not only can you identify them, but really you’re allowing them to identify themselves...  But it’s interesting that transactio... See more

I think it’s really important to find creator-content fit, or better yet, Creator-Format fit. It’s kind of the creator version of product-market fit.  It’s determining what feels natural to you, what feels the most authentic, and comes the easiest to you?

I think what’s more interesting about Web 3 and the angle that I would love to explore more is, in so far as it serves as a vector for allowing platform participants to become the owners of the platforms themselves.

On Monetizing Individuality