Hello!
I'm officially back on the weekly rhythm! And, I even found the time to include intro text closely tied to the subject line rhyme! ; )
This HBR article by Li Jin, talks about how the creative economy on platforms like YouTube and Instagram look a lot like the U.S. economy (and I'd wager – from my experience – also other (inter)national economies too). Jin says there are a few big winners but a lot of people hustling to make a living and barely getting by and, she writes, it doesn’t have to be like this. I agree.
The author recommends 10 policies that platforms could adopt to broaden opportunities for creators, the platforms themselves & brands. I'd wager 90% of readers here (including me) create content in some shape or form, so, let's go!
- Focus on content types with lower replay value: "How many times can a person listen to the same podcast episode? Probably not many before the content becomes repetitive and boring. In contrast, one can listen to a favorite song on repeat ad infinitum. To create a more equitable creator ecosystem, platforms could direct users to content types where there’s a greater appeal in experiencing a wide array of content." My .02? I think Echobox is doing this great live on their site and thereafter with Mixcloud. I even think this is why things like reels are being pushed. High engagement but low replay value, just keeps you coming back!
- Serve heterogeneity in user preferences & empower niche: "Rosen’s theory of superstar economics is predicated on “imperfect substitution among quality differentiated goods” — great surgeons who can save 10% more lives get much more than 10% incremental demand." So in my mind, this comes down to both creators and platforms appealing to many small demographics vs. broad swathes of mainstream appeal. Serendipitous silver lining? This supports diversity too!
- Recommend content algorithmically with an element of randomness: "Some theories on why the long tail hasn’t flourished in a world of infinite digital products are that customers find it hard to know what to search for and that most recommendation systems are basic, simply recommending what other users have consumed/purchased. The weakness of this system is that users rarely see anything outside of their interest areas and can get locked into filter bubbles; popular creators are further amplified, making it challenging for newcomers to break out." I think Instagram is improving with this but can't speak as confidently about other platforms. Random content is a great non-sequitur surprise!
- Facilitate collabs and community: "In his 2001 book Free Agent Nation, Daniel Pink writes, “Free agents may be bowling alone, but they’re not going it alone … loyalty hasn’t disappeared; it has simply changed from vertical to horizontal.” Because content consumption is driven, in part, by which creators a user already follows, creating content together is an opportunity for cross-promotion." This is a no-brainer & something we love to facilitate at Twotone in the projects we do! I think we should begin to make this even more random in the collabs we do :D
- Provide capital investment to up-and-coming creators: "If creators are the new small businesses, what is the new version of small business lending? Some creator verticals require upfront capital investment or capital to unlock the next level of growth and could benefit from funding in order to lower the barriers to entry." True story! All of our clients are keen on influencer content in some shape or form but often not as ready to support them financially, especially when that creator is at an early stage. A conundrum for (up and coming) creators that platforms have the budget to help solve.
- Decouple creator payouts from audience demographic: "A 2013 paper in the Journal of Computer-Mediated Communication found that “online content creators tend to be from relatively privileged groups.” While the paper doesn’t delve into reasons why, I suspect it’s related to the broader reasons that prevent entrepreneurship in general: access to capital and ability to take financial risks." Another very poignant one. In my experience, the creators with fewer resources and support often devise some of the best content. Rewarding those people, even those not targeting an affluent demographic, really helps an entire platform, niche, and ultimately broader community within that niche grow with new ideas & opportunities. Feels very grassroots.
- Allow creators to capitalize on superfans: "Subscription and fan donations can enable creators with even modest audience sizes to earn substantial amounts. These direct fan payment models facilitate greater monetization of highly-engaged superfans, in contrast with ad-based models that reward scale and reach. Customers are willing to spend more to gain closer access to a creator vs. showing passive support through a subscription." Even here on Revue, I think offering different levels would help. Partly why I also use ko-fi. (Thank you for all the 'coffees'! You know who you are!)
- Create passive (or almost-passive) income opportunities for creators: "Near-zero marginal costs cause digital superstars to accrue massive audiences, the lack of marginal costs can also work in favor of emerging creators, who are able to sell digital goods with little marginal effort/time. When income is incremental, creators are able to dedicate time to other sources of earnings and create a portfolio of various income streams." Again, Revue has a small option here for this but I see people on other platforms with a broader set of options. Feature request! ; )
- Offer a form of Universal Creative Income (UCI): This on relates to #5 & #6: In Austria, the government established a 90 million euro fund to support freelance artists, to provide 15,000 artists with a monthly stipend of 1,000 euros for 6 months. [Elsewhere in the world, the] top obstacles are financial in nature: Freshbooks’ 2019 Self-Employment in America Report revealed that the top barriers to self-employment were: “worry about inconsistent income” (35%), “don’t have cash to invest” (28%), and “worry about earning less” (27%)." long story short, an idea like UCI (no not that UCI, haha) could in fact facilitate actual cultural treasures & certainly more varied cultural imprinting in these trying times.
- Provide creator education and training: "Just as creator [collabs] lift up their participants partly through shared learnings and cross-pollination of ideas, platforms can facilitate these learnings and provide guidance for what creators can do to better succeed. In China, influencer incubators take this educational angle to the next level, and have a multi-step model focused on developing, growing, and monetizing influencers (called key opinion leaders or KOLs)." I think everyone has an opinion on what makes a creator cringe or impressive. But how do they know what's pro or a no-no? Platforms should provide training to creators on how to do their job best!
Though the article I highlight above is targeted toward social media platforms themselves, I think there are aspects that individuals and certainly brands can adopt and implement as well. Even here at Twotone!
So, next time, before you knock on social media, its creators, and their content think about how much you consume it and how much better it could be!
Please reply if this issue caught your eye!
thank you, as always, for reading & sharing this newsletter,
Jon
―
🤝 Pass this issue on via a tweet, LinkedIn post, or a share on FB.
✨ Enjoy this newsletter? A discounted offer to support it is here.
☕ Or simply say thanks for this issue by buying me a coffee.
🙏 Thank you all for the replies & good vibes each week!
📷 banner image from Cyclist.co.uk's Bespoked coverage of Dear Susan fixie build & final frame as Petor is taking over running the show!
Cycling
Cycling some of the BEST Roads in the UK
My friend Chris Hall just put out this video about riding in the Peak District. Granted I recently rode from Hull to Harrogate & back and in another corner of the country, the areas of Yorkshire that my wife Kristy and I rode resembled some of what Chris showcased here quite closely. Great work Chris & Chris!
2021 Philly Bike Expo – Nov. 6 & 7
dang! I'm stoked to be attending my first Philly Bike Expo next month after all these years! Some of the panels are looking radical too:
- "How to not piss off the media" by Tyler Benedict of Bikerumor
- "Women of the Bicycle Industry" by Heather Mason and Rachelle Schouten
- "Post gravel, back to the roots (and rocks)" by Instagram celebrity Ultraromance
Catch me attending the Industry Hour from 9-10 am each morning catching up with brands, media, and other industry colleagues. : )
Bespoked 2021 bike gallery | The best custom bikes from this year's show
The 1st of 4 links in this issue about the 10th edition of Bespoked and somehow even my 2008 Bilenky tandem made it into the list! Haha! Thank you, Will! :D
Startups
The 10 Micromobility Commandments with Horace Dediu
At the recent Micromobility America conference, Horace Dediu, coiner of the term "micromobility," set forth his 10 industry commandments. Worth a watch!
PRO TIP: check out micromobility.substack.com for ongoing updates in this sector.
How can startups fix the dirty 'last mile'?
Most parcels in Europe are delivered using diesel vans, which trundle through residential streets, stopping and starting to find parking spaces, to get parcels to their destinations.
It’s an extremely polluting process. Since the 1990s, it’s estimated that CO2 emissions from vans on EU roads have risen by 58%, compared with 20% from cars.
A Guide to Implementing the 4-Day Workweek
Main idea is that working less can reduce employees’ stress — without sacrificing productivity.
Friends
A Bike That Breaks In Half?! GCN's Coolest Tech From Bespoked 2021
Some well-deserved spotlight time for my friend Ricky Feather for this absolutely stunning S&S frame! I have two bikes with couplers
Quirk's Superchub on Bikepacking
Bikepacking dot com's 1st report from the 2021 Bespoked show features my friend Rob Quirk's Superchub. Such a clean build!
Bespoked 2021: Revenge of the smith with custom bikes galore
Cyclist also has some great Bespoked coverage including these kind words to say about my homie Petor from Dear Susan's build show here:
"If there was a single bike that summed up all that custom bikes offer, it's this fixie from Dear Susan. Radical tubing, a paintjob you absolutely wouldn't find anywhere else, a Lauf Grit gravel suspension fork and plenty of naked steel."
Radness
The Mechanics of Joy #3 'Amsterdam - Soul of Steel'
I was in England during last week's episode & my colleague Kike picked up the torch with two guests to discuss housing, shipyards, squatting, the steel industry, mobility, makers that are gone, and the ones that stand still like @lestercycles and @workcycles.
Kike had the pleasure welcome our friend Jordan Miller (@waltwhitmanspen) former owner of @velo_champ (now building up @texarkananl ) along with Joost Ramaer, Investigative Journalist, published author, and devoted lover of our beautiful city into the Echobox studio.
They blasted few tunes from our favorite new label @geertruida_label and #knekelhuis. Click the link below to listen and tune in again live next month on November 18th!