Created by Rishabh Srivastava, Founder of Loki.ai
This summary was largely done for my own note-taking, sharing it just in case it adds more value to other people.
I have no affiliation whatsoever with anyone in this note. This is a summary largely taken for my own reference, and may contain errors :)
Context
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Why is it important: contains an overview of the passion economy
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Summary
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Highlights
- Passion Economy is an economy where people can convert what they do into their source of income
- It’s mostly a content creator economy for now. But will become much broader. Already, Etsy is a part of the passion economy
- Platforms allow more people to do this. Traditional employment is a bundle of different things (means of production, team and camaraderie, insurance, distribution etc). These are now being unbundled and rebundled
- Advertising and subscriptions are both possibilities. Advertising is democratising, and also is a good idea when you’re first starting out. Creating subscription content is a much heavier lift
- Digital communities: one-way vs two-way communication. Community is wildly overused because everyone wants to show network effects. In a community, members should have a strong connection with each other