# 3x3: Bill Gates can't explain why the internet is useful and more

Source: https://creator3x3.com/p/bill-gates-cant-explain-the-internet
Kiwi News: https://news.kiwistand.com/stories/3x3-Bill-Gates-cant-explain-why-the-internet-is-useful-and-more?index=0x656604f122784131a1d117687da3ccddc5b724fb78a17578e19540dd78cb39f8176d4b13
Submitted by realcameron.eth on 2023-11-28 UTC, 7 upvotes, 0 comments

## Summary

This creator-economy newsletter, Creator 3×3, pairs past, present and future facts with the argument that the creator economy is still early and its monetization is unsolved. It cites a 1995 exchange in which Bill Gates tried to explain the internet's usefulness to David Letterman and was met with skepticism. It reports that in 2022 over 98% of Spotify artists made less than $36 per quarter and only 2% of Patreon creators earned a monthly minimum wage. It also cites Goldman Sachs' estimate that the creator economy could reach $480 billion by 2027, and says brand deals remain the most lucrative income source for about 70% of creators, though they are often inconsistent.

## Article

Welcome to Creator 3×3!

Here are 3 Creator facts from the past, 3 notes on the present, and 3 thoughts for the future of the content economy...

3 FACTS FROM THE PAST

I.

In 1995, Bill Gates couldn’t convince David Letterman why the internet was going to be useful1.

Bill Gates: “You can now listen to a baseball game whenever you want!”

David Letterman: “Do tape recorders ring a bell?”

Sometimes even incredibly smart, capable, and well-incentivized people can’t explain or predict what’s gonna happen next…

I often wonder what I’m completely wrong about in the creator economy.

​II.

Substack invented the modern independent newsletter and it’s only 6 years old.

It’s upstart competitor Beehiiv is just 2 years old.2

We’re still in the very earliest days of the evolution of online newsletters.

III.

In 2022, over 98% of Spotify artists make less than $36 every quarter.

Only 2% of creators on Patreon earn the equivalent of a monthly minimum wage.3

We haven’t even come close to solving Creator monetization at scale.

3 NOTES ON THE PRESENT

I.

Today, influencer marketing spend is growing faster than social ad spend4

This is huge.

It means more brand deals, more partnerships, and more creative placements than ever before for Creators.

II.

Goldman Sachs estimates that the creator economy could be a $480 billion industry by 20276.

The platforms will take a huge chunk of that, but Creators can set themselves up by diversifying income streams to prepare for the influx of the fans, brands, and ecosystem changes. ​

III.

Over 70% of BookTok’s audience is women ages 13-345

If that’s your ideal audience, I recommend testing some booktok content ideas - popular formats include book haul reveals, reviews, plot discussions, and, of course, character cosplays.

3 THOUGHTS FOR THE FUTURE

I.

Every major content platform is expected to grow. Period.

TikTok is projected as the fastest, but all are showing signs that the content economy is just getting started7

​II.

According to Insider Intelligence, influencer marketing spend will continue it's double digit growth for at least the next 3 years8

III.

About 70% of creators say they expect brand deals to stay their most lucrative source of income9

These 3 predictions are a mixed blessing for Creators.

Things look great!

Platform growth is happening. Marketers want to spend on Creators. Creators see the value in brand partnerships…

But while brands deals are often the most lucrative, they're often an inconsistent income stream - especially for Creators that are still growing their audience.

There’s a lot to reflect on for next year.

Have you thought about your brand deal strategy for 2024 yet?

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See you next week,

p.s. if you love FPS gaming content and haven’t seen StoneMountain64 before you’re missing out…