The Economist on the creator economy: “Social-media platforms used to get most of their content for free. That dynamic is changing…Though there is more content than ever, platforms are competing harder than ever to get it. “There’s an arms race to acquire creators,” says Li Jin, founder of Atelier Ventures, a venture-capital firm. Startups are developing new ways for creators to monetise their work. Substack gives writers 90% of the subscription fees they charge for newsletters; together its top ten authors earn more than $15m a year. Twitch gives its game streamers more than half of its subscription fees, plus a cut of ad revenue and the money paid to “cheer” their performance. Cameo, a platform on which 40,000 celebrities sell personalised videos to fans, passes 75% of the spoils to contributors.” More from Subscribed.com.
Art Carden in WSJ: “…People vote for capitalism and against socialism in droves by trying to move to freer and more prosperous countries. Socialists might have laudable goals like feeding, clothing, and sheltering everyone–and I agree with these–but I would no more suggest socialism to treat poverty and inequality than I would prescribe leeches, mercury, and bloodletting to treat cancer.”
George Will on turning 80: “To be 80 years old in this republic is to have lived through almost exactly one-third of its life. And to have seen so many ephemeral excitements come and go that one knows how few events are memorable beyond their day. (Try to remember the things that had you in a lather during, say, the George H.W. Bush administration.) This makes an American 80-year-old’s finishing sprint especially fun, because it can be focused on this fact: To live a long life braided with the life of a nation conceived in liberty and dedicated to an imperishable proposition is simply delightful.”