More on Entrepreneurship/Creators

Pat Vieljeux
2 years ago
In 5 minutes, you can tell if a startup will succeed.
Or the “lie to me” method.

I can predict a startup's success in minutes.
Just interview its founder.
Ask "why?"
I question "why" till I sense him.
I need to feel the person I have in front of me. I need to know if he or she can deliver. Startups aren't easy. Without abilities, a brilliant idea will fail.
Good entrepreneurs have these qualities: He's a leader, determined, and resilient.
For me, they can be split in two categories.
The first entrepreneur aspires to live meaningfully. The second wants to get rich. The second is communicative. He wants to wow the crowd. He's motivated by the thought of one day sailing a boat past palm trees and sunny beaches.
What drives the first entrepreneur is evident in his speech, face, and voice. He will not speak about his product. He's (nearly) uninterested. He's not selling anything. He's not a salesman. He wants to succeed. The product is his fuel.
He'll explain his decision. He'll share his motivations. His desire. And he'll use meaningful words.
Paul Ekman has shown that face expressions aren't cultural. His study influenced the American TV series "lie to me" about body language and speech.
Passionate entrepreneurs are obvious. It's palpable. Faking passion is tough. Someone who wants your favor and money will expose his actual motives through his expressions and language.
The good liar will be able to fool you for a while, but not for long if you pay attention to his body language and how he expresses himself.
And also, if you look at his business plan.
His business plan reveals his goals. Read between the lines.
Entrepreneur 1 will focus on his "why", whereas Entrepreneur 2 will focus on the "how".
Entrepreneur 1 will develop a vision-driven culture.
The second, on the other hand, will focus on his EBITDA.
Why is the culture so critical? Because it will allow entrepreneur 1 to develop a solid team that can tackle his problems and trials. His team's "why" will keep them together in tough times.
"Give me a terrific start-up team with a mediocre idea over a weak one any day." Because a great team knows when to pivot and trusts each other. Weak teams fail.” — Bernhard Schroeder
Closings thoughts
Every VC must ask Why. Entrepreneur's motivations. This "why" will create the team's culture. This culture will help the team adjust to any setback.

Grace Huang
2 years ago
I sold 100 copies of my book when I had anticipated selling none.
After a decade in large tech, I know how software engineers were interviewed. I've seen outstanding engineers fail interviews because their responses were too vague.
So I wrote Nail A Coding Interview: Six-Step Mental Framework. Give candidates a mental framework for coding questions; help organizations better prepare candidates so they can calibrate traits.
Recently, I sold more than 100 books, something I never expected.
In this essay, I'll describe my publication journey, which included self-doubt and little triumphs. I hope this helps if you want to publish.
It was originally a Medium post.
How did I know to develop a coding interview book? Years ago, I posted on Medium.
Six steps to ace a coding interview Inhale. blog.devgenius.io
This story got a lot of attention and still gets a lot of daily traffic. It indicates this domain's value.
Converted the Medium article into an ebook
The Medium post contains strong bullet points, but it is missing the “flesh”. How to use these strategies in coding interviews, for example. I filled in the blanks and made a book.
I made the book cover for free. It's tidy.
Shared the article with my close friends on my social network WeChat.
I shared the book on Wechat's Friend Circle (朋友圈) after publishing it on Gumroad. Many friends enjoyed my post. It definitely triggered endorphins.
In Friend Circle, I presented a 100% off voucher. No one downloaded the book. Endorphins made my heart sink.
Several days later, my Apple Watch received a Gumroad notification. A friend downloaded it. I majored in finance, he subsequently said. My brother-in-law can get it? He downloaded it to cheer me up.
I liked him, but was disappointed that he didn't read it.
The Tipping Point: Reddit's Free Giving
I trusted the book. It's based on years of interviewing. I felt it might help job-hunting college students. If nobody wants it, it can still have value.
I posted the book's link on /r/leetcode. I told them to DM me for a free promo code.
Momentum shifted everything. Gumroad notifications kept coming when I was out with family. Following orders.
As promised, I sent DMs a promo code. Some consumers ordered without asking for a promo code. Some readers finished the book and posted reviews.
My book was finally on track.
A 5-Star Review, plus More
A reader afterwards DMed me and inquired if I had another book on system design interviewing. I said that was a good idea, but I didn't have one. If you write one, I'll be your first reader.
Later, I asked for a book review. Yes, but how? That's when I learned readers' reviews weren't easy. I built up an email pipeline to solicit customer reviews. Since then, I've gained credibility through ratings.
Learnings
I wouldn't have gotten 100 if I gave up when none of my pals downloaded. Here are some lessons.
Your friends are your allies, but they are not your clients.
Be present where your clients are
Request ratings and testimonials
gain credibility gradually
I did it, so can you. Follow me on Twitter @imgracehuang for my publishing and entrepreneurship adventure.

Aaron Dinin, PhD
2 years ago
I put my faith in a billionaire, and he destroyed my business.
How did his money blind me?
Like most fledgling entrepreneurs, I wanted a mentor. I met as many nearby folks with "entrepreneur" in their LinkedIn biographies for coffee.
These meetings taught me a lot, and I'd suggest them to any new creator. Attention! Meeting with many experienced entrepreneurs means getting contradictory advice. One entrepreneur will tell you to do X, then the next one you talk to may tell you to do Y, which are sometimes opposites. You'll have to chose which suggestion to take after the chats.
I experienced this. Same afternoon, I had two coffee meetings with experienced entrepreneurs. The first meeting was with a billionaire entrepreneur who took his company public.
I met him in a swanky hotel lobby and ordered a drink I didn't pay for. As a fledgling entrepreneur, money was scarce.
During the meeting, I demoed the software I'd built, he liked it, and we spent the hour discussing what features would make it a success. By the end of the meeting, he requested I include a killer feature we both agreed would attract buyers. The feature was complex and would require some time. The billionaire I was sipping coffee with in a beautiful hotel lobby insisted people would love it, and that got me enthusiastic.
The second meeting was with a young entrepreneur who had recently raised a small amount of investment and looked as eager to pitch me as I was to pitch him. I forgot his name. I mostly recall meeting him in a filthy coffee shop in a bad section of town and buying his pricey cappuccino. Water for me.
After his pitch, I demoed my app. When I was done, he barely noticed. He questioned my customer acquisition plan. Who was my client? What did they offer? What was my plan? Etc. No decent answers.
After our meeting, he insisted I spend more time learning my market and selling. He ignored my questions about features. Don't worry about features, he said. Customers will request features. First, find them.
Putting your faith in results over relevance
Problems plagued my afternoon. I met with two entrepreneurs who gave me differing advice about how to proceed, and I had to decide which to pursue. I couldn't decide.
Ultimately, I followed the advice of the billionaire.
Obviously.
Who wouldn’t? That was the guy who clearly knew more.
A few months later, I constructed the feature the billionaire said people would line up for.
The new feature was unpopular. I couldn't even get the billionaire to answer an email showing him what I'd done. He disappeared.
Within a few months, I shut down the company, wasting all the time and effort I'd invested into constructing the killer feature the billionaire said I required.
Would follow the struggling entrepreneur's advice have saved my company? It would have saved me time in retrospect. Potential consumers would have told me they didn't want what I was producing, and I could have shut down the company sooner or built something they did want. Both outcomes would have been better.
Now I know, but not then. I favored achievement above relevance.
Success vs. relevance
The millionaire gave me advice on building a large, successful public firm. A successful public firm is different from a startup. Priorities change in the last phase of business building, which few entrepreneurs reach. He gave wonderful advice to founders trying to double their stock values in two years, but it wasn't beneficial for me.
The other failing entrepreneur had relevant, recent experience. He'd recently been in my shoes. We still had lots of problems. He may not have achieved huge success, but he had valuable advice on how to pass the closest hurdle.
The money blinded me at the moment. Not alone So much of company success is defined by money valuations, fundraising, exits, etc., so entrepreneurs easily fall into this trap. Money chatter obscures the value of knowledge.
Don't base startup advice on a person's income. Focus on what and when the person has learned. Relevance to you and your goals is more important than a person's accomplishments when considering advice.
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Glorin Santhosh
2 years ago
In his final days, Steve Jobs sent an email to himself. What It Said Was This
An email capturing Steve Jobs's philosophy.
Steve Jobs may have been the most inspired and driven entrepreneur.
He worked on projects because he wanted to leave a legacy.
Steve Jobs' final email to himself encapsulated his philosophy.
After his death from pancreatic cancer in October 2011, Laurene Powell Jobs released the email. He was 56.
Read: Steve Jobs by Walter Isaacson (#BestSeller)
The Email:
September 2010 Steve Jobs email:
“I grow little of the food I eat, and of the little I do grow, I do not breed or perfect the seeds.” “I do not make my own clothing. I speak a language I did not invent or refine,” he continued. “I did not discover the mathematics I use… I am moved by music I did not create myself.”
Jobs ended his email by reflecting on how others created everything he uses.
He wrote:
“When I needed medical attention, I was helpless to help myself survive.”
The Apple co-founder concluded by praising humanity.
“I did not invent the transistor, the microprocessor, object-oriented programming, or most of the technology I work with. I love and admire my species, living and dead, and am totally dependent on them for my life and well-being,” he concluded.
The email was made public as a part of the Steve Jobs Archive, a website that was launched in tribute to his legacy.
Steve Jobs' widow founded the internet archive. Apple CEO Tim Cook and former design leader Jony Ive were prominent guests.
Steve Jobs has always inspired because he shows how even the best can be improved.
High expectations were always there, and they were consistently met.
We miss him because he was one of the few with lifelong enthusiasm and persona.

Matthew Cluff
2 years ago
GTO Poker 101
"GTO" (Game Theory Optimal) has been used a lot in poker recently. To clarify its meaning and application, the aim of this article is to define what it is, when to use it when playing, what strategies to apply for how to play GTO poker, for beginner and more advanced players!
Poker GTO
In poker, you can choose between two main winning strategies:
Exploitative play maximizes expected value (EV) by countering opponents' sub-optimal plays and weaker tendencies. Yes, playing this way opens you up to being exploited, but the weaker opponents you're targeting won't change their game to counteract this, allowing you to reap maximum profits over the long run.
GTO (Game-Theory Optimal): You try to play perfect poker, which forces your opponents to make mistakes (which is where almost all of your profit will be derived from). It mixes bluffs or semi-bluffs with value bets, clarifies bet sizes, and more.
GTO vs. Exploitative: Which is Better in Poker?
Before diving into GTO poker strategy, it's important to know which of these two play styles is more profitable for beginners and advanced players. The simple answer is probably both, but usually more exploitable.
Most players don't play GTO poker and can be exploited in their gameplay and strategy, allowing for more profits to be made using an exploitative approach. In fact, it’s only in some of the largest games at the highest stakes that GTO concepts are fully utilized and seen in practice, and even then, exploitative plays are still sometimes used.
Knowing, understanding, and applying GTO poker basics will create a solid foundation for your poker game. It's also important to understand GTO so you can deviate from it to maximize profits.
GTO Poker Strategy
According to Ed Miller's book "Poker's 1%," the most fundamental concept that only elite poker players understand is frequency, which could be in relation to cbets, bluffs, folds, calls, raises, etc.
GTO poker solvers (downloadable online software) give solutions for how to play optimally in any given spot and often recommend using mixed strategies based on select frequencies.
In a river situation, a solver may tell you to call 70% of the time and fold 30%. It may also suggest calling 50% of the time, folding 35% of the time, and raising 15% of the time (with a certain range of hands).
Frequencies are a fundamental and often unrecognized part of poker, but they run through these 5 GTO concepts.
1. Preflop ranges
To compensate for positional disadvantage, out-of-position players must open tighter hand ranges.
Premium starting hands aren't enough, though. Considering GTO poker ranges and principles, you want a good, balanced starting hand range from each position with at least some hands that can make a strong poker hand regardless of the flop texture (low, mid, high, disconnected, etc).
Below is a GTO preflop beginner poker chart for online 6-max play, showing which hand ranges one should open-raise with. Table positions are color-coded (see key below).
NOTE: For GTO play, it's advisable to use a mixed strategy for opening in the small blind, combining open-limps and open-raises for various hands. This cannot be illustrated with the color system used for the chart.
Choosing which hands to play is often a math problem, as discussed below.
Other preflop GTO poker charts include which hands to play after a raise, which to 3bet, etc. Solvers can help you decide which preflop hands to play (call, raise, re-raise, etc.).
2. Pot Odds
Always make +EV decisions that profit you as a poker player. Understanding pot odds (and equity) can help.
Postflop Pot Odds
Let’s say that we have JhTh on a board of 9h8h2s4c (open-ended straight-flush draw). We have $40 left and $50 in the pot. He has you covered and goes all-in. As calling or folding are our only options, playing GTO involves calculating whether a call is +EV or –EV. (The hand was empty.)
Any remaining heart, Queen, or 7 wins the hand. This means we can improve 15 of 46 unknown cards, or 32.6% of the time.
What if our opponent has a set? The 4h or 2h could give us a flush, but it could also give the villain a boat. If we reduce outs from 15 to 14.5, our equity would be 31.5%.
We must now calculate pot odds.
(bet/(our bet+pot)) = pot odds
= $50 / ($40 + $90)
= $40 / $130
= 30.7%
To make a profitable call, we need at least 30.7% equity. This is a profitable call as we have 31.5% equity (even if villain has a set). Yes, we will lose most of the time, but we will make a small profit in the long run, making a call correct.
Pot odds aren't just for draws, either. If an opponent bets 50% pot, you get 3 to 1 odds on a call, so you must win 25% of the time to be profitable. If your current hand has more than 25% equity against your opponent's perceived range, call.
Preflop Pot Odds
Preflop, you raise to 3bb and the button 3bets to 9bb. You must decide how to act. In situations like these, we can actually use pot odds to assist our decision-making.
This pot is:
(our open+3bet size+small blind+big blind)
(3bb+9bb+0.5bb+1bb)
= 13.5
This means we must call 6bb to win a pot of 13.5bb, which requires 30.7% equity against the 3bettor's range.
Three additional factors must be considered:
Being out of position on our opponent makes it harder to realize our hand's equity, as he can use his position to put us in tough spots. To profitably continue against villain's hand range, we should add 7% to our equity.
Implied Odds / Reverse Implied Odds: The ability to win or lose significantly more post-flop (than pre-flop) based on our remaining stack.
While statistics on 3bet stats can be gained with a large enough sample size (i.e. 8% 3bet stat from button), the numbers don't tell us which 8% of hands villain could be 3betting with. Both polarized and depolarized charts below show 8% of possible hands.
7.4% of hands are depolarized.
Polarized Hand range (7.54%):
Each hand range has different contents. We don't know if he 3bets some hands and calls or folds others.
Using an exploitable strategy can help you play a hand range correctly. The next GTO concept will make things easier.
3. Minimum Defense Frequency:
This concept refers to the % of our range we must continue with (by calling or raising) to avoid being exploited by our opponents. This concept is most often used off-table and is difficult to apply in-game.
These beginner GTO concepts will help your decision-making during a hand, especially against aggressive opponents.
MDF formula:
MDF = POT SIZE/(POT SIZE+BET SIZE)
Here's a poker GTO chart of common bet sizes and minimum defense frequency.
Take the number of hand combos in your starting hand range and use the MDF to determine which hands to continue with. Choose hands with the most playability and equity against your opponent's betting range.
Say you open-raise HJ and BB calls. Qh9h6c flop. Your opponent leads you for a half-pot bet. MDF suggests keeping 67% of our range.
Using the above starting hand chart, we can determine that the HJ opens 254 combos:
We must defend 67% of these hands, or 170 combos, according to MDF. Hands we should keep include:
Flush draws
Open-Ended Straight Draws
Gut-Shot Straight Draws
Overcards
Any Pair or better
So, our flop continuing range could be:
Some highlights:
Fours and fives have little chance of improving on the turn or river.
We only continue with AX hearts (with a flush draw) without a pair or better.
We'll also include 4 AJo combos, all of which have the Ace of hearts, and AcJh, which can block a backdoor nut flush combo.
Let's assume all these hands are called and the turn is blank (2 of spades). Opponent bets full-pot. MDF says we must defend 50% of our flop continuing range, or 85 of 170 combos, to be unexploitable. This strategy includes our best flush draws, straight draws, and made hands.
Here, we keep combining:
Nut flush draws
Pair + flush draws
GS + flush draws
Second Pair, Top Kicker+
One combo of JJ that doesn’t block the flush draw or backdoor flush draw.
On the river, we can fold our missed draws and keep our best made hands. When calling with weaker hands, consider blocker effects and card removal to avoid overcalling and decide which combos to continue.
4. Poker GTO Bet Sizing
To avoid being exploited, balance your bluffs and value bets. Your betting range depends on how much you bet (in relation to the pot). This concept only applies on the river, as draws (bluffs) on the flop and turn still have equity (and are therefore total bluffs).
On the flop, you want a 2:1 bluff-to-value-bet ratio. On the flop, there won't be as many made hands as on the river, and your bluffs will usually contain equity. The turn should have a "bluffing" ratio of 1:1. Use the chart below to determine GTO river bluff frequencies (relative to your bet size):
This chart relates to your opponent's pot odds. If you bet 50% pot, your opponent gets 3:1 odds and must win 25% of the time to call. Poker GTO theory suggests including 25% bluff combinations in your betting range so you're indifferent to your opponent calling or folding.
Best river bluffs don't block hands you want your opponent to have (or not have). For example, betting with missed Ace-high flush draws is often a mistake because you block a missed flush draw you want your opponent to have when bluffing on the river (meaning that it would subsequently be less likely he would have it, if you held two of the flush draw cards). Ace-high usually has some river showdown value.
If you had a 3-flush on the river and wanted to raise, you could bluff raise with AX combos holding the bluff suit Ace. Blocking the nut flush prevents your opponent from using that combo.
5. Bet Sizes and Frequency
GTO beginner strategies aren't just bluffs and value bets. They show how often and how much to bet in certain spots. Top players have benefited greatly from poker solvers, which we'll discuss next.
GTO Poker Software
In recent years, various poker GTO solvers have been released to help beginner, intermediate, and advanced players play balanced/GTO poker in various situations.
PokerSnowie and PioSolver are popular GTO and poker study programs.
While you can't compute players' hand ranges and what hands to bet or check with in real time, studying GTO play strategies with these programs will pay off. It will improve your poker thinking and understanding.
Solvers can help you balance ranges, choose optimal bet sizes, and master cbet frequencies.
GTO Poker Tournament
Late-stage tournaments have shorter stacks than cash games. In order to follow GTO poker guidelines, Nash charts have been created, tweaked, and used for many years (and also when to call, depending on what number of big blinds you have when you find yourself shortstacked).
The charts are for heads-up push/fold. In a multi-player game, the "pusher" chart can only be used if play is folded to you in the small blind. The "caller" chart can only be used if you're in the big blind and assumes a small blind "pusher" (with a much wider range than if a player in another position was open-shoving).
Divide the pusher chart's numbers by 2 to see which hand to use from the Button. Divide the original chart numbers by 4 to find the CO's pushing range. Some of the figures will be impossible to calculate accurately for the CO or positions to the right of the blinds because the chart's highest figure is "20+" big blinds, which is also used for a wide range of hands in the push chart.
Both of the GTO charts below are ideal for heads-up play, but exploitable HU shortstack strategies can lead to more +EV decisions against certain opponents. Following the charts will make your play GTO and unexploitable.
Poker pro Max Silver created the GTO push/fold software SnapShove. (It's accessible online at www.snapshove.com or as iOS or Android apps.)
Players can access GTO shove range examples in the full version. (You can customize the number of big blinds you have, your position, the size of the ante, and many other options.)
In Conclusion
Due to the constantly changing poker landscape, players are always improving their skills. Exploitable strategies often yield higher profit margins than GTO-based approaches, but knowing GTO beginner and advanced concepts can give you an edge for a few reasons.
It creates a solid gameplay base.
Having a baseline makes it easier to exploit certain villains.
You can avoid leveling wars with your opponents by making sound poker decisions based on GTO strategy.
It doesn't require assuming opponents' play styles.
Not results-oriented.
This is just the beginning of GTO and poker theory. Consider investing in the GTO poker solver software listed above to improve your game.

Scott Galloway
2 years ago
Attentive
From oil to attention.
Oil has been the most important commodity for a century. It's sparked wars. Pearl Harbor was a preemptive strike to guarantee Japanese access to Indonesian oil, and it made desert tribes rich. Oil's heyday is over. From oil to attention.
We talked about an information economy. In an age of abundant information, what's scarce? Attention. Scale of the world's largest enterprises, wealth of its richest people, and power of governments all stem from attention extraction, monetization, and custody.
Attention-grabbing isn't new. Humans have competed for attention and turned content into wealth since Aeschylus' Oresteia. The internal combustion engine, industrial revolutions in mechanization and plastics, and the emergence of a mobile Western lifestyle boosted oil. Digitization has put wells in pockets, on automobile dashboards, and on kitchen counters, drilling for attention.
The most valuable firms are attention-seeking enterprises, not oil companies. Big Tech dominates the top 4. Tech and media firms are the sheikhs and wildcatters who capture our attention. Blood will flow as the oil economy rises.
Attention to Detail
More than IT and media companies compete for attention. Podcasting is a high-growth, low-barrier-to-entry chance for newbies to gain attention and (for around 1%) make money. Conferences are good for capturing in-person attention. Salesforce paid $30 billion for Slack's dominance of workplace attention, while Spotify is transforming music listening attention into a media platform.
Conferences, newsletters, and even music streaming are artisan projects. Even 130,000-person Comic Con barely registers on the attention economy's Richter scale. Big players have hundreds of millions of monthly users.
Supermajors
Even titans can be disrupted in the attention economy. TikTok is fracking king Chesapeake Energy, a rule-breaking insurgent with revolutionary extraction technologies. Attention must be extracted, processed, and monetized. Innovators disrupt the attention economy value chain.
Attention pre-digital Entrepreneurs commercialized intriguing or amusing stuff like a newspaper or TV show through subscriptions and ads. Digital storage and distribution's limitless capacity drove the initial wave of innovation. Netflix became dominant by releasing old sitcoms and movies. More ad-free content gained attention. By 2016, Netflix was greater than cable TV. Linear scale, few network effects.
Social media introduced two breakthroughs. First, users produced and paid for content. Netflix's economics are dwarfed by TikTok and YouTube, where customers create the content drill rigs that the platforms monetize.
Next, social media businesses expanded content possibilities. Twitter, Facebook, and Reddit offer traditional content, but they transform user comments into more valuable (addictive) emotional content. By emotional resonance, I mean they satisfy a craving for acceptance or anger us. Attention and emotion are mined from comments/replies, piss-fights, and fast-brigaded craziness. Exxon has turned exhaust into heroin. Should we be so linked without a commensurate presence? You wouldn't say this in person. Anonymity allows fraudulent accounts and undesirable actors, which platforms accept to profit from more pollution.
FrackTok
A new entrepreneur emerged as ad-driven social media anger contaminated the water table. TikTok is remaking the attention economy. Short-form video platform relies on user-generated content, although delivery is narrower and less social.
Netflix grew on endless options. Choice requires cognitive effort. TikTok is the least demanding platform since TV. App video plays when opened. Every video can be skipped with a swipe. An algorithm watches how long you watch, what you finish, and whether you like or follow to create a unique streaming network. You can follow creators and respond, but the app is passive. TikTok's attention economy recombination makes it apex predator. The app has more users than Facebook and Instagram combined. Among teens, it's overtaking the passive king, TV.
Externalities
Now we understand fossil fuel externalities. A carbon-based economy has harmed the world. Fracking brought large riches and rebalanced the oil economy, but at a cost: flammable water, earthquakes, and chemical leaks.
TikTok has various concerns associated with algorithmically generated content and platforms. A Wall Street Journal analysis discovered new accounts listed as belonging to 13- to 15-year-olds would swerve into rabbitholes of sex- and drug-related films in mere days. TikTok has a unique externality: Chinese Communist Party ties. Our last two presidents realized the relationship's perils. Concerned about platform's propaganda potential.
No evidence suggests the CCP manipulated information to harm American interests. A headjack implanted on America's youth, who spend more time on TikTok than any other network, connects them to a neural network that may be modified by the CCP. If the product and ownership can't be separated, the app should be banned. Putting restrictions near media increases problems. We should have a reciprocal approach with China regarding media firms. Ban TikTok
It was a conference theme. I anticipated Axel Springer CEO Mathias Döpfner to say, "We're watching them." (That's CEO protocol.) TikTok should be outlawed in every democracy as an espionage tool. Rumored regulations could lead to a ban, and FCC Commissioner Brendan Carr pushes for app store prohibitions. Why not restrict Chinese propaganda? Some disagree: Several renowned tech writers argued my TikTok diatribe last week distracted us from privacy and data reform. The situation isn't zero-sum. I've warned about Facebook and other tech platforms for years. Chewing gum while walking is possible.
The Future
Is TikTok the attention-economy titans' final evolution? The attention economy acts like it. No original content. CNN+ was unplugged, Netflix is losing members and has lost 70% of its market cap, and households are canceling cable and streaming subscriptions in historic numbers. Snap Originals closed in August after YouTube Originals in January.
Everyone is outTik-ing the Tok. Netflix debuted Fast Laughs, Instagram Reels, YouTube Shorts, Snap Spotlight, Roku The Buzz, Pinterest Watch, and Twitter is developing a TikTok-like product. I think they should call it Vine. Just a thought.
Meta's internal documents show that users spend less time on Instagram Reels than TikTok. Reels engagement is dropping, possibly because a third of the videos were generated elsewhere (usually TikTok, complete with watermark). Meta has tried to downrank these videos, but they persist. Users reject product modifications. Kim Kardashian and Kylie Jenner posted a meme urging Meta to Make Instagram Instagram Again, resulting in 312,000 signatures. Mark won't hear the petition. Meta is the fastest follower in social (see Oculus and legless hellscape fever nightmares). Meta's stock is at a five-year low, giving those who opposed my demands to break it up a compelling argument.
Blue Pill
TikTok's short-term dominance in attention extraction won't be stopped by anyone who doesn't hear Hail to the Chief every time they come in. Will TikTok still be a supermajor in five years? If not, YouTube will likely rule and protect Kings Landing.
56% of Americans regularly watch YouTube. Compared to Facebook and TikTok, 95% of teens use Instagram. YouTube users upload more than 500 hours of video per minute, a number that's likely higher today. Last year, the platform garnered $29 billion in advertising income, equivalent to Netflix's total.
Business and biology both value diversity. Oil can be found in the desert, under the sea, or in the Arctic. Each area requires a specific ability. Refiners turn crude into gas, lubricants, and aspirin. YouTube's variety is unmatched. One-second videos to 12-hour movies. Others are studio-produced. (My Bill Maher appearance was edited for YouTube.)
You can dispute in the comment section or just stream videos. YouTube is used for home improvement, makeup advice, music videos, product reviews, etc. You can load endless videos on a topic or creator, subscribe to your favorites, or let the suggestion algo take over. YouTube relies on user content, but it doesn't wait passively. Strategic partners advise 12,000 creators. According to a senior director, if a YouTube star doesn’t post once week, their manager is “likely to know why.”
YouTube's kevlar is its middle, especially for creators. Like TikTok, users can start with low-production vlogs and selfie videos. As your following expands, so does the scope of your production, bringing longer videos, broadcast-quality camera teams and performers, and increasing prices. MrBeast, a YouTuber, is an example. MrBeast made gaming videos and YouTube drama comments.
Donaldson's YouTube subscriber base rose. MrBeast invests earnings to develop impressive productions. His most popular video was a $3.5 million Squid Game reenactment (the cost of an episode of Mad Men). 300 million people watched. TikTok's attention-grabbing tech is too limiting for this type of material. Now, Donaldson is focusing on offline energy with a burger restaurant and cloud kitchen enterprise.
Steps to Take
Rapid wealth growth has externalities. There is no free lunch. OK, maybe caffeine. The externalities are opaque, and the parties best suited to handle them early are incentivized to construct weapons of mass distraction to postpone and obfuscate while achieving economic security for themselves and their families. The longer an externality runs unchecked, the more damage it causes and the more it costs to fix. Vanessa Pappas, TikTok's COO, didn't shine before congressional hearings. Her comms team over-consulted her and said ByteDance had no headquarters because it's scattered. Being full of garbage simply promotes further anger against the company and the awkward bond it's built between the CCP and a rising generation of American citizens.
This shouldn't distract us from the (still existent) harm American platforms pose to our privacy, teenagers' mental health, and civic dialogue. Leaders of American media outlets don't suffer from immorality but amorality, indifference, and dissonance. Money rain blurs eyesight.
Autocratic governments that undermine America's standing and way of life are immoral. The CCP has and will continue to use all its assets to harm U.S. interests domestically and abroad. TikTok should be spun to Western investors or treated the way China treats American platforms: kicked out.
So rich,