We're going to talk about why the creator economy ended up being a dumpster fire.

So a couple of years ago, maybe in 2021 or so, there was a lot of VC activity going to these

creator startups, right? So a lot of money was being poured into

Patreon sub stack I think for Andreson Horwitz they put like I don't know how many

millions into sub stack first we need to define what the creator economy is but our first

I'm going to share this first but our first I'm going to share this

chart over here. So check this out. Projected US fundraising for creator startups is down

more than 90% this quarter compared to the same period two years ago. So Q2 of 2021, boom, 2.5 billion, right?

Then it drops, it gets lower and lower, lower, you can see the screen and it's you can see here here all the layoffs

patron laid off 70% of staff link tree they sacked 17% of staff and then cameo cut

160 people or so sub-stack cut 14% and this is just the beginning right so Neil

coming back to it just to define the crater economy what is the creator

economy as I go through this yeah sure so the creator economy is people who are just, there's a lot of businesses out there that are enabling people like Eric or I or influencers out there to either create their own business or make money through any form that is just

us doing stuff with our talent. So that could be recording a video that could be getting

people to subscribe through a subscription like what only fans right the

subscription Patreon Patreon is similar to that could be snooped up creating a promotional video like

on cameo it could be you creating your own e-book products and you sell it through tools like

Kajabi.

These are all examples of like the Creator Economy.

Yep.

So look, this is funny.

So I'm pulling this from every dot two. This is a newsletter that I subscribe to so this is what is a creator a small business in general is a shitty business 65% fail in the first 10 years in the US

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