How And Why To Keep A “Commonplace Book” And How the $100B+ Creator Economy Is Going To Be Shaped By Big Tech

How And Why To Keep A “Commonplace Book” And How the $100B+ Creator Economy Is Going To Be Shaped By Big Tech

In today's digital age, information is abundant and easily accessible. With just a few clicks, we can find articles, videos, and podcasts on any topic we desire. But how do we make sense of all this information? How do we retain and apply the knowledge we gain from our online explorations? Two seemingly unrelated concepts - the commonplace book and the creator economy - actually share a common thread: the need to organize and prioritize information.

A commonplace book, as described by RyanHoliday.net, is a central resource where we can collect ideas, quotes, anecdotes, and observations that we come across in our lives. This practice dates back centuries, with influential figures like Marcus Aurelius and Petrarch keeping their own commonplace books. The purpose of a commonplace book is to have a repository of knowledge that we can refer to and learn from. It's a way to distill the most valuable and practical information we encounter.

Similarly, the creator economy is a burgeoning industry driven by content creators who share their expertise and creativity with the world. These creators, whether they be influencers, YouTubers, or writers, are frustrated by the lack of rewards they receive from big media platforms. They generate high-traffic content that attracts millions of eyeballs, but often see little financial return for their efforts. As a result, big tech companies are starting to recognize the importance of supporting and incentivizing these creators.

The intersection of these two concepts lies in the need to prioritize and organize information. Just as a commonplace book helps us curate and make sense of the knowledge we come across, big tech companies are now realizing the value of empowering creators to do the same. Facebook, for example, is introducing features that allow creators to monetize their content, such as native tipping systems and paid access to live audio rooms. Substack and Revue, platforms for newsletter creators, also take a small percentage of creators' earnings.

However, the creator economy is not without its challenges. One major obstacle is the platform fees imposed by big tech companies. Apple, for instance, takes a 30% cut of creators' earnings, which has been criticized as a bottleneck for the growth of the creator economy. By reducing these fees, platforms could potentially see a surge in the size and success of the creator economy. Stripe, a payments processing platform, only takes a 3% cut from retailers, highlighting the discrepancy in fees across different infrastructure platforms.

In the midst of this evolving landscape, creators are finding ways to become platform-agnostic and establish themselves as independent brands. They understand the importance of not relying too heavily on any one platform and the need to diversify their presence. This shift towards independence allows creators to have more control over their content and potential revenue streams.

So, what can we take away from these two seemingly unrelated topics? Here are three actionable pieces of advice:

• 1. Start your own commonplace book: Whether it's a physical notebook or a digital document, create a space where you can collect and organize the knowledge and insights you encounter. This will help you retain and apply the information that resonates with you.

• 2. Support independent creators: As consumers, we have the power to support creators directly by engaging with their content, subscribing to their newsletters, or purchasing their products. By doing so, we can help creators thrive in the ever-changing landscape of the creator economy.

• 3. Advocate for fair platform fees: If you're a creator or someone invested in the success of the creator economy, speak out about the hefty fees imposed by big tech companies. Push for a more reasonable percentage that allows creators to fully benefit from their hard work and contributions.

In conclusion, the practice of keeping a commonplace book and the rise of the creator economy both highlight the importance of organizing and prioritizing information. By curating and making sense of the vast amount of knowledge available, we can better navigate the digital landscape and support the creators who enrich our lives.