LD session 14

Always Arm yourself with questions that draw wisdom, An opportunity could arise where you are next to a Jeff Bezos, and your “Hey, how are you ” won’t get you anywhere God will give you a vision much…

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The passion economy is changing the world!

Did you recently take a class on Skillshare instead of attending a university lecture?. Do you subscribe to a productivity mailing list from your favorite self-improvement coach?. Good for you, you are one of the millions of people benefitting from personalized knowledge services.

With the rise of the internet, creators with authenticity who can add value to an audience are getting rewarded like never before. This has given rise to a new economy — the passion economy.

How big can the passion economy be?

The passion economy is growing rapidly & could be as big as the already booming gig economy. The US has over 1.6 million gig economy workers, & they account for 1% of the workforce.

Top writers on Substack make over a hundred thousand dollars & there’s a large section of new writers who make a sizeable portion of their living expenses on the platform.

Teaching skills like productivity, video-making & social media marketing can fetch you anywhere from 200 to 10000 dollars a month on platforms like Skillshare & Udemy.

What’s causing the growth of the passion economy?

In the past few decades, the passion economy was limited to fields like Music & art. Two major triggers that have resulted in an explosion across other areas:

(Traditional sectors adding personalization & diverse supply)

2. Innovative platforms have made it easier for creators to meet the demand for personalized services. In a few steps, you can build an audience, seamlessly share content & charge for it.

LD session 14

The passion economy is changing the world!

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