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~Potential downsides to the passion economy~
i first heard about the passion economy from @ljin18 and @a16z where people can monetize their individuality
i'm a huge fan of it
also think there are potentially important pitfalls to consider... 1/ https://a16z.com/2019/10/08/passion-economy/
i first heard about the passion economy from @ljin18 and @a16z where people can monetize their individuality
i'm a huge fan of it
also think there are potentially important pitfalls to consider... 1/ https://a16z.com/2019/10/08/passion-economy/
2/ First issue is that it enables people to monetize themselves mostly online
this isn't inherently bad!
but if we truly are in an economically stagnant era, we're going to have to find a way to innovate in the physical world https://twitter.com/danstern_/status/1289598885120352258?s=20
this isn't inherently bad!
but if we truly are in an economically stagnant era, we're going to have to find a way to innovate in the physical world https://twitter.com/danstern_/status/1289598885120352258?s=20
3/ this is useful to help more people become entrepreneurs (which is 
)
this also means that some of the smartest and most talented people in our society are working on content rather than hard technical problems
)this also means that some of the smartest and most talented people in our society are working on content rather than hard technical problems
4/ also, a funny thought experiment:
if everyone worked in the passion economy, who's there to service basic needs around food, safety, transportation, housing. etc?
clearly this wouldn't happen, but shows the limitations of scalable value creation here
if everyone worked in the passion economy, who's there to service basic needs around food, safety, transportation, housing. etc?
clearly this wouldn't happen, but shows the limitations of scalable value creation here
5/ "If you want to go far, go together."
@Alex_Danco wrote an excellent piece on "gift culture"
https://alexdanco.com/2020/08/21/homesteading-the-twittersphere/
people give away valuable "gifts" in exchange for social capital
super useful for monetizing in passion economy
@Alex_Danco wrote an excellent piece on "gift culture"
https://alexdanco.com/2020/08/21/homesteading-the-twittersphere/
people give away valuable "gifts" in exchange for social capital
super useful for monetizing in passion economy
6/ an interesting way to look at this though:
if people individually (or even in small groups) participate heavily in this gift culture with aspirations to monetize themselves, they're inherently not working on particularly difficult or important problems...
if people individually (or even in small groups) participate heavily in this gift culture with aspirations to monetize themselves, they're inherently not working on particularly difficult or important problems...
7/ like helping solve
- wildfire crisis
- cheap nuclear
- flying cars
- cancer
or even making our institutions more competent
- wildfire crisis
- cheap nuclear
- flying cars
- cancer
or even making our institutions more competent
8/ the point being that individuals can only solve X hard of a problem on their own - there's absolutely a ceiling to it
The passion economy optimizes more for the individual so its difficult to solve the above problems without starting a "normal" company
The passion economy optimizes more for the individual so its difficult to solve the above problems without starting a "normal" company
9/ in the end, all this to say that creating MORE entrepreneurs and MORE opportunities generally = a great thing
Creating more opportunities for those entrepreneurs to help solve some of our hardest problems though might be even more important
Creating more opportunities for those entrepreneurs to help solve some of our hardest problems though might be even more important
