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Hotpot & talking passion economy / creators with some great founders in the space! "Creating online videos is one of the greatest opportunities for economic mobility of our generation." -
@EveryVowelpic.twitter.com/Ou60fNu6cw
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Shopify’s GMV alludes to how large the Passion Economy could be if digital goods, services, and communities were as easily monetized as physical products. Q3 GMV of $14.8B, mostly from SMB.pic.twitter.com/4gDROVUrn5
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Had so much fun last night at the
@lunchclubai Fireside with@skominers discussing "Marketplaces in Theory and in Practice" Topics: - marketplaces that shouldn't work in theory but do in practice - pros & cons of managed marketplaces - network effects that plateau - lots more!!pic.twitter.com/6Jl3Uc8rIE
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The Passion Economy: new platforms are capitalizing on the individuality and creativity of service providers, allowing them to monetize unique skills and creating new forms of work. Check out the blog post: https://a16z.com/2019/10/08/passion-economy/ …pic.twitter.com/v3UA8HOJlH
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New digital platforms enable forms of work that were previously inaccessible to all but the top creators. People are now making a living as newsletter writers, video course creators, and virtual instructors & coaches:pic.twitter.com/AT4zBwlbsU
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Gig work isn’t going anywhere, but now there’s an expansion of the type of work people can do, facilitated by Passion Economy platforms:pic.twitter.com/dF6eeuZsxR
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“By mapping the relationships we already had in a period of dynamic new relationship creation and extending them to people you were actually likely to meet in person [...] you crushed our idea to have you meet a stranger living in Dallas who liked the same cut of Diesel jeans."pic.twitter.com/EcgjnVQS38
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Impromptu gathering of all the "-school" founders at the a16z bbq: Outschool, Lambda School, Wonderschool
pic.twitter.com/teNQabVyAK
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I spent my Sunday reading
@skupor's new book about VC, then got to p. 269: "If you made it this far, congratulations to you, and might I suggest that you find some hobbies?" Ouch
Shade aside, it's great - wish I had this when I started in the industry! https://www.amazon.com/Secrets-Sand-Hill-Road-Venture/dp/059308358X/ …pic.twitter.com/bVbMkQFW4R
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Katrina Lake was one of the first founders I reached out to when I joined a16z almost 3 years ago. But as we all now know Stitch Fix didn't need more VC $
Loved hearing her speak about:
- Being the underdog and hoping women in the future don't have to be underestimated!pic.twitter.com/4FwULtVLvg
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And finally, we outline a few ideas we’re excited about: vertical audio apps, social audio, & platforms to help creators monetize and establish deeper relationships with their audiences. If you are working on anything related to the above, I’d love to talk more!pic.twitter.com/2aFNzEkdL4
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For investments in audio, some of the factors we look for include: - network effects - full-stack startups (content + monetization + user relationship) when possible - differentiated in-depth content - alternative monetization models (
@conniechan has written about outgrowing ads)pic.twitter.com/bRhUWoYwyu
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We also discuss exits including Gimlet and Anchor’s multi-million dollar acquisitions and what they mean for the startup landscape. And take a tour through what's going on in startup-land now: lots of new consumer apps, vertical audio apps, and VC-backed production studios.pic.twitter.com/9UXcYHlBIf
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What the US podcast industry can learn from China audio apps like the unicorn Ximalaya: taking a broader view of what audio content can be--including interactive and social audio--and how business models can more closely align with product.pic.twitter.com/AYlzLNMNzv
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We created a taxonomy of podcast producers, which illustrates the power law of content. Everyone from media companies to public radio to (what
@smc90 calls) "cult of personality" shows.pic.twitter.com/G3LsfU5mmK
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Apple Podcasts is still in the lead with 60%+ market share, but Spotify has risen from nearly nothing until 2015 to almost 10%. Here's some data from Libsyn and other sources:pic.twitter.com/0aMzsAjOCc
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In this post, I trace the history of podcasting over the past 15 years, from desktop and iPods, to smartphones and smart speakers, including defining what a "podcast" even is.pic.twitter.com/pq5thQGYTM
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1 out of 4 Americans are listening to podcasts weekly and industry revenue is at an all-time high. But there's challenges: dominance by a few platforms (Apple Podcasts, Spotify) and lack of monetization infrastructure. Here’s some data from The Infinite Dial 2019 on growth:pic.twitter.com/pbm9YAmPZx
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Rapid fire round - which companies/categories have stronger or weaker network effects? Food delivery, social networking, etc.https://youtu.be/3BO050o2XfY
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