Why Millionaires & Billionaires are Becoming Content Creators

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 29 November 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2621, We explore the strategies of successful content creators, drawing inspiration from figures like Chamath Palihapitiya and Andrew Wilkinson, both millionaires who have activated paid subscriptions for their Twitter accounts. We discuss their keen understanding of the value of building and leveraging an audience for various opportunities, highlighting the potential for financial success through subscriptions, investments, and business deals. We draw parallels with other content creators, such as Jason Lemkin and Harry Stebbings, who have successfully built conferences, and venture capital opportunities, and gained access to deal flow through their respective platforms. We emphasize the strategic move of building an audience as a means to stand out from the crowd and create diverse opportunities. Don’t forget to help us grow by subscribing and liking on YouTube! Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT) TIME-STAMPED SHOW NOTES: (00:00) Today’s topic: Why Millionaires & Billionaires are Becoming Content Creators (00:01) Chamath and Andrew Wilkinson are becoming content creators (01:50) Building an audience helps make money and get business deals (03:51) Examples of successful content creators: Jason Lemkin and Harry Stebbings (05:13) Tim Ferriss has a large audience and makes money from investing (06:31) Building an audience is a smart move for success (07:12) That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Chamath Palihapitiya X Andrew Wilkinson X Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel X @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	All right, so we're going to talk about why millionaires and billionaires are becoming content creators.
0:05.0	So let me set the stage for this one.
0:07.0	So what's interesting to me is that Chamath Polyhaputia, he is creating a paid subscriber list.
0:14.4	So he has paid subscriptions turned on for Twitter now or X.
0:18.2	And I believe he has a paid substat too,
0:20.2	so where he's going to share research with his fans and say,
0:23.2	hey, look, you know, I'm going to use the proceeds from this,
0:25.4	and we're going to do the proceeds to basically get even better research
0:30.0	for you all.
0:30.6	And so I want to share this with you all,
0:32.2	because you all enjoy what I I read and I actually subscribe to one of his
0:35.8	substocks where it just shows the stuff that he's read for the week and so I can
0:39.5	kind of get into his head right and then the other interesting thing is that
0:42.4	Andrew Wilkinson, who founded
0:45.1	Tiny, so Tiny, they own a handful of companies that they own MetaLab and they have a dribble,
0:50.5	what else they have, they have, they have Thrive Market. So they have a handful of companies and I think what is that Woo commerce? Maybe they took that company public so who commerce they took it public but anyway so you have both these people that are maybe worth you know know, 100 million plus or so, you know,
1:04.5	Chamathas may be close to a billionaire, if not more, and they are turning on, so Andrew Wilkinson,
1:09.8	sorry, let me back up a second.
1:11.4	He also turned on a $29 a month Twitter or X subscription and he has to basically, you know, contribute to the community once a month or else people are going to be upset, right? And that maybe makes him like, you know, 10, 15, 25 grand a month or something like that.
1:26.6	So I find it interesting that millionaires, billionaires, billionaires,
1:29.1	more and more people are getting into the content creation game.
1:31.6	It's not just the Mr Beast of the world.
	...

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