In episode #2434, Neil and Eric talk about the business lessons behind Instagram making $660M on blue checkmarks. Tuning in you’ll hear all the details of Instagram's decision to charge for blue checkmarks and the record profits they are making virtually overnight. Today’s conversation also delves into predictions for this trend — like how it might play out in other social media brands owned by Meta — before covering the business lessons we should all be learning from this news story!
TIME-STAMPED SHOW NOTES:
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[00:20] Today’s topic: Biz Lessons Behind Instagram Making $660M on Blue Checkmarks.
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[00:34] A rundown of the Instagram blue checkmark news story.
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[01:14] The differences between Instagram and Twitter.
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[02:18] Why charging for a blue checkmark is likely to undermine its prestige and credibility.
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[03:18] Our predictions for how the economy around badges and checkmarks will evolve on Instagram and related platforms like Whatsapp and Facebook.
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[04:07] The business lessons we can all learn from this development at Instagram.
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[05:27] That’s it for today! Don’t forget to rate, review, and subscribe!
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