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E77: The Future of Media, Institutions, and Risk
"Moment of Zen"
Aligning Value Creation and Capture in the Creator Economy
Price discrimination in the creator economy needs to be figured out to align the value creators generate with the amount they receive. The internet has enabled creators to monetize directly from their fans without middlemen, ensuring they capture a more accurate fraction of the value they create. This shift has led to greater efficiency in industries like journalism, with platforms like Substack enabling creators to earn more than they did through traditional channels. However, in areas like music and sports, middlemen like record labels and organizations still capture a significant portion of the revenue generated by creators. The speaker believes that in industries where demand is created by individual stars such as athletes, musicians, and entrepreneurs, those who generate the demand should also capture the value, bypassing traditional middlemen due to the internet's ability to connect creators directly with their audience.
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