The Axis of Building: How Did MasterClass Start?

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Hatched by Glasp

Aug 29, 2023

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The Axis of Building: How Did MasterClass Start?

MasterClass, a platform that offers online courses taught by experts in various fields, has gained popularity in recent years. But how did it all begin? The idea came to Rogier, the founder of MasterClass, through a story told by his grandmother. She emphasized the importance of education, stating that it is something that can never be taken away from a person. This sparked the idea of creating a school that teaches valuable skills and knowledge that can benefit people all over the world.

Rogier wanted to make education affordable and accessible to everyone. He wanted to create a platform where people could learn from the best minds and masters of their crafts without spending thousands of dollars. This clear vision and unique value proposition allowed MasterClass to stand out from its competitors and create its own category.

One of the strategies that set MasterClass apart is its marketing approach. By enlisting celebrities as instructors, MasterClass not only grabs attention but also benefits from word-of-mouth marketing. Celebrities already have a significant influence and large social followings, making the promotion of MasterClass highly effective.

However, the cost of bringing in these celebrity instructors is substantial. Sources suggest that instructors are paid around $100,000 upfront and receive 30% of the revenue generated by their classes. Despite the expenses, many celebrities see teaching a MasterClass as a legacy project, similar to the motivation behind Wikipedia.

Some critics argue that the courses offered by MasterClass lack practical advice and are filled with motivational superlatives. They believe that much of the information taught in these classes can be found for free on platforms like YouTube. This perception has led some to question the value and cost of the courses.

Moving on to a different topic, the concept of building efficiently becomes crucial in various aspects of life. In the TV series "Silicon Valley," Gilfoyle states, "I'm more concerned with being right than being fast." While this may hold true for individual projects, the trade-off between speed and cost becomes more significant in endeavors such as creating companies, building infrastructure, or launching rockets.

Efficiency plays a vital role in the bigger picture. Economies of scale, where costs decrease as usage or production increases, are often discussed. However, finding areas to reduce costs is a common challenge, particularly in government and infrastructure projects. Critics argue that excessive red tape and local interests hinder development and prevent progress. Overcoming these obstacles and prioritizing national needs are essential for building a prosperous future.

When it comes to civilization's progress, long-term thinking is crucial. The US, despite being a world power, is still relatively young, having been around for only 246 years. The ability to build efficiently is a sign of civilizational strength, and the US must continue progressing in this regard to ensure its longevity.

In the startup world, speed is often seen as a key driver of innovation. However, there are lessons that can be learned from government infrastructure projects when it comes to effective decision-making and reducing dependencies. By relying on fewer people who are deeply committed to the vision, startups can reduce the risk of being at the mercy of others' narratives.

Amazon's customer obsession serves as an example of prioritizing dependencies. By putting customers first, businesses can build a strong foundation for success. Effective use of resources, such as cash, is also crucial. Startups must be decisive in how they allocate their funds to avoid wasteful spending.

In contrast, governments often struggle with measuring the effectiveness of their spending. Venture capital has provided startups with unprecedented access to capital, but this abundance can lead to excessive burn rates if not managed properly. Startups must learn to effectively measure their spending and make strategic decisions to ensure long-term success.

Ultimately, building an effective core flywheel is essential for businesses. This involves finding the best tools, such as artificial intelligence, to enhance productivity and efficiency. By prioritizing measurements of effectiveness and optimizing timelines, businesses can create a winning formula for success.

In conclusion, MasterClass's journey started with the vision of making education accessible to everyone. By enlisting celebrity instructors and embracing word-of-mouth marketing, MasterClass has become a prominent platform for online learning. Efficiency in building and decision-making is crucial for both startups and governments alike. By reducing dependencies and effectively measuring resources, businesses can thrive and create a better future. Here are three actionable pieces of advice:

  • 1. Prioritize customer dependency: Put your customers first and build your business around their needs and preferences.
  • 2. Measure effectively: Develop metrics and measurements that accurately assess how resources are being utilized and make strategic decisions accordingly.
  • 3. Embrace efficiency: Find ways to streamline processes, reduce dependencies, and optimize timelines to increase productivity and reduce costs.

By following these recommendations, businesses can build a strong foundation for success and ensure long-term growth.

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