Li Jin is back sharing knowledge bombs on the Passion Economy

Li was recently on a popular business podcast talking about all things the Passion Economy, how it differs from the creator economy, rebuilding the middle class, and communities and brands.

I took some notes on the interview if you're interested :)

1/ Li’s definition of the Passion Economy: “The economy in which people are able to convert what they love to do into their source of income.” (FYI Li coined the Passion Economy)

2/ “It’s an intrinsic human desire to find meaning/purpose in one’s work, not just to earn money from it.” — Li

3/ Many people get this confused, but the Creator Economy (content creators) is a subset of the passion economy.

4/ “The new SMB (small/midsize business) is just a single individual who is leveraging all these software platforms/tech tools in order to run their own business.” — Li

5/ New tools+platforms are emerging to make these tools accessible to people, such as:

Vertical platforms that help people create a certain product or service that’s aligned to a specific vertical (i.e. newsletter, podcast, course, etc.)

Horizontal platforms that people across different platforms can leverage (financial tools, community cultivation software, etc.)

6/ “It’s going to be more common for these solopreneurs that still want a sense of camaraderie and teamwork, but they aren’t employed at a common employer.” — Li

7/ Li defines community as: “A group of people that have really strong bonds with each other, not just with the creator (who’s leading the community), but with each other. People have a mutual concern and interest in one another.”

8/ Li on what real community leaders need to ask themselves: What’s the value that people are trying to seek from this place? How are they relating to each other? How can people benefit from each other? How do you deepen the care that people feel for each other?

9/ Lastly, and one of the coolest things about the entire interview was when Li mentioned that she’s more interested in the long-tail of how we empower anyone in the country to make an income doing what they love to do. She wants to push forward a world in which people are building technology that helps broaden access to income, customers and to give people new ways of working that feel more meaningful and fulfilling to them.

Here's where you can find the interview: https://gradually.co/passion-economy/

Thanks for reading. If you enjoyed this, I curate the most valuable content on the internet that aims to make people wiser, wealthier, and healthier over at https://gradually.co