What’s next for social media from someone who’s Extremely Online

VC Involvement

Venture capital has played a significant role in the evolution of the creator economy, but not without challenges. Taylor Lorenz highlights how VCs often misunderstand the media landscape, leading to misguided investments in creator economy startups 1. She notes that while some VCs have a good grasp of media, many rush in without fully understanding the industry, funding startups that ultimately fail 2.

It's like people showing up at the end of the party and then being like, like sort of suggesting all this stuff that people had already done.

--- Taylor Lorenz

This misalignment often leaves creators stranded when the funding dries up, impacting the sustainability of their platforms.

   

Economic Impact

The financial dynamics of content creation have evolved significantly over the years. Taylor Lorenz explains that the economic value of having a large online following has become increasingly recognized 3. This shift has led to a saturation of content, as more people aim to monetize their online presence.

Having online power and clout is aspirational, whereas it wasn't considered aspirational in 2008, 2009 because there was no economic power tied to it.

--- Taylor Lorenz

This monetization has transformed online platforms into lucrative spaces, but also more competitive and complex.

   

Historical Context

The creator economy has deep historical roots that have shaped its current state. Taylor Lorenz shares her journey from blogging to becoming a columnist, emphasizing the cultural shift from traditional media to online platforms 4. She notes that while traditional media still holds prestige, online platforms have become the primary source of influence and content consumption 5.

I started out as a blogger. I have no formal training in journalism at all.

--- Taylor Lorenz

This evolution underscores the growing importance of digital media in shaping public discourse and culture.