Li Jin on The Passion Economy & Its Hidden Currency

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.

Web 3 & When Platform Participants Become Platform Owners

James: The power law gets steeper in this case because of the transparency that the internet gives us... And that is affecting people everywhere, as they struggle to realize where they are in the power law of life. It’s not just getting clients. It’s putting out your songs on YouTube or TikTok, just for fun, and seeing all the people who are “bette... See more

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

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?

The Passion Economy Demands Creator-Format Fit

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.

...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 #1: Market Creation