The Passion Economy

The Passion Economy

Great essay on the growing passion economy, remote-first companies, using AI to augment our work, and more. It covers many of the themes I’ve been focusing on in this newsletter. There has never been a better time to start businesses around our creative passions.

Here are some highlights:

“People will need to learn to monetise their skills and create unconventional economic opportunities for themselves. Waiting for the economy to bounce back is not the smartest recruitment strategy in the COVID-19 era.”

“A key component of the passion economy is storytelling and Marte tells a gripping story through his business. It creates a strong bond between customers and instructors.”

“While the passion economy will be immensely rewarding for creators, it will not be all fun and games. People will need the discipline and the rigour to work hard, experiment fast and deliver consistently. Unlike regular employment, creators will need to figure out human resources, accounting and legal issues themselves.”

“Instead of debating whether artificial intelligence (AI) will exacerbate job losses in the COVID-19 era, we must figure out how it can augment the productivity of creators and micro-entrepreneurs who will be the pillars of economic rebuilding in the post-coronavirus world. We need to free up time for creators to do the work they truly care about and are good at. That is how the passion economy will blossom and lead to the next wave of economic growth.”

via Ollie Forsyth

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