How Change Happens: The Role of Community Action and Cultural Shifts in Society

How Change Happens: The Role of Community Action and Cultural Shifts in Society

Change is an inevitable part of life. Whether it be in our personal lives or on a larger societal scale, change is constantly occurring. However, cultural change, in particular, tends to happen relatively slowly. It is not a sudden shift but rather a gradual process that takes place person by person, conversation by conversation.

In order for cultural change to occur, expectations need to be established, roles need to be defined, and systems need to be built. Consistency is key in this process. It is not about intensity but rather about the persistent effort to bring about change. Everyday people play a crucial role in this process. They are not at the bottom of the hierarchy but rather the roots, the foundation, and the source of culture itself. We are the culture, and we have the power to either change it or be changed by it.

In today's fast-paced world, the internet often encourages us to focus on what happened five minutes ago. However, the culture understands that what truly matters is what happens in five years. Focused, persistent community action is how systems change. It is through these actions that cultural norms are concretized and enforced. If we truly care about bringing about change, we must keep talking, keep acting, stay focused, and most importantly, not get bored.

One platform that has had a significant impact on cultural change is Product Hunt. It has become almost unthinkable for a new product to launch without posting on the platform. Product Hunt represents an opportunity for startups to win new users and attention at no added cost, often resulting in meaningful valuation changes.

Product Hunt's success can be attributed to its unique approach of starting with a community and then building the product, rather than the other way around. This approach was exemplified by the platform's founder, Ryan Hoover, who focused on building a genuine, warm community that was different from the snark and sarcasm often found on other platforms.

However, despite its success in building a thriving community, Product Hunt initially struggled to generate revenue. Hoover prioritized the platform's growth over generating revenue, a strategy that had been successful for other consumer hits. In hindsight, he acknowledges that dedicating a portion of their resources towards revenue generation would have been beneficial.

To address this issue, Product Hunt explored various avenues for generating revenue, including launching a "Shop" in partnership with General Electric and integrating podcasts and book reviews. However, these efforts did not significantly impact the company's bottom line.

In late 2016, Hoover faced a crucial decision between a Series B funding round with unfavorable terms or a new alliance with AngelList. Ultimately, he chose the latter, which allowed Product Hunt to continue its growth trajectory and explore new revenue streams.

Today, Product Hunt makes the majority of its revenue through advertisements. The platform sells various sponsorship products, including promoted listings, email collection, topic-based ads, newsletter sponsorship, and job postings. Advertising accounts for $2.9 million of the projected $3.3 million in revenue for this year.

In addition to advertising, Product Hunt also generates revenue through its Ship and Founder Club subscriptions, which bring in $400K. Hoover notes that the company was nearly profitable in 2020, highlighting the success of their revenue diversification efforts.

Moving forward, Product Hunt should consider clearing room for new growth by shuttering or transforming the site's least used corners. This would allow the platform to focus on its core offerings and improve the user experience.

Furthermore, Product Hunt should leverage and increase early engagement for makers. By leveraging early traction data, such as the number of email sign-ups, the platform could bring promising projects into the spotlight and provide them with an extra distribution bump.

Additionally, Product Hunt should consider establishing an incubator to support founders in the early stages of their ventures. This would help front-run the existing maker flow and provide assistance to founders before they even have an idea or a product to work on.

In conclusion, change is a gradual process that requires consistent effort and community action. Cultural change happens person by person, conversation by conversation. Product Hunt has demonstrated the power of building a strong community and leveraging it for success. By focusing on revenue generation and exploring new avenues for growth, Product Hunt has positioned itself as a leader in the industry. With a continued emphasis on user experience and support for early-stage founders, Product Hunt can further solidify its impact on cultural change and innovation.