Li Jin on The Passion Economy & Its Hidden Currency
In this episode, James Currier and guest Li Jin delve into the passion economy, discussing its social implications and the role of self-promotion. They explore the involvement of Gen Z, investment dynamics, and examine case studies such as Mirror and Maven. The conversation also touches on the evolution of digital transactions, challenges in the passion economy, the impact of remote work, personal branding, and the arrival of Web 3.0.
Key Points
- Technology platforms in the passion economy enable individuals to monetize their creativity and individuality, offering fulfilling and meaningful work.
- NFTs are redefining creator monetization by allowing price discrimination among audiences and enabling creators to scale their earnings without necessarily increasing their reach.
- The internet's evolution toward Web 3.0 and decentralized applications has the potential to shift platform participants from users to co-owners, distributing ownership more broadly.
The "Passion Economy" as coined by Li Jin makes it easier for people to monetize their individuality through unique, creative work. This comes with a host of benefits, not the least of which is the emergence of new markets, a feeling of autonomy, and intrinsic satisfaction.
To work through this and more, James Currier is joined by Li Jin herself -- former investment partner at A16Z, now Founder and Managing Partner at Atelier. They discuss how NFTs are changing the economics of the Creator Economy, what happens when everyone has to be a marketer, and how they look for ways to make platform participants into platform owners.
Read the NFX Essay here - https://www.nfx.com/post/li-jin-passion-attention-economy/
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Transcript
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