Tweets

@dwiskus @YouTubeLiaison @algorithm In Facebook’s case, they used Pages to attract new visitors, to encourage businesses to make FB their home on the web. As soon as they had enough leverage, they cut organic reach.

All the big platforms do this: convince people to build a following, and then limit organic reach.

@dwiskus @YouTubeLiaison @algorithm Ultimately, it’s we (as users and creators) who build the social graph (invite our friends, encourage people to subscribe, send links to our friends) and who give them the usage data that informs the algorithm.

I think we’re owed a lot more. 😄

@dwiskus @YouTubeLiaison @algorithm You and I disagree here.

Tech platforms (like FB, Google, etc) have shown time and time again that their algorithms are not benevolent benefactors... they're designed with one purpose (to maximize their financial gain).

https://techcrunch.com/2014/04/03/the-filtered-feed-problem/

@michelletandler @anchor @TryLifeSchool @SubstackInc @webflow @TransistorFM https://support.transistor.fm/en/article/importing-your-podcast-from-a-different-provider-fvkczq/

There's a 1-click import, and then all you have to do is forward your old RSS feed to your new Transistor RSS.

@michelletandler @anchor @TryLifeSchool @SubstackInc @webflow 👋 happy to show you around @TransistorFM.

Here's a quick video that shows you my workflow for recording, editing, and publishing on Transistor:

https://youtu.be/N41v30oLM2o

@mronge @mattwensing I don't think YT can take credit for all that.

(Plus, if you look at their methodology, they also want to take credit for consumer goods, and revenues generated by big media companies and the music industry)

https://twitter.com/MichaelThiessen/status/1455955404354113545

As revealed by @jackconte on @HowIBuiltThis: there's a "risk/reward" imbalance between YouTube and indie creators.

Creators spend thousands of hours (and thousands of their own dollars) creating free content for YouTube.

YouTube benefits because they just need *moar content*.

@mattwensing They're also saying that the "FT jobs" they're creating include jobs in the music industry and at big media companies...

https://twitter.com/mijustin/status/1455973222076190720

@jacobgorban Well, apparently it includes jobs in the "media industry and music business." 🙄

https://twitter.com/mijustin/status/1455973222076190720

@marcelfahle Also this:

https://twitter.com/mijustin/status/1455973222076190720

🙄 YouTube is saying that payouts to big media companies (like Universal, Sony, and Warner) should be included in its "$20.5B contribution to the creator economy."

Look at YouTube's ridiculous methodology for contributing "$20.5B contribution to the creator economy."

They want to claim:

- The "Direct impact" of "media companies and the music industry."
- "Induced impact" of "meals, recreation, household goods, and consumer supply chain."

@dwiskus @YouTubeLiaison @algorithm You don't think there's problems with the way YouTube chooses recommended videos on the homepage?

@mattwensing Not with these numbers they can't.

https://twitter.com/mijustin/status/1455951356385128451

@MattGiovanisci Got it. 👍

🚩 Fourth red flag: YouTube presents significant platform risks for creators.

- Algorithm changes
- Demonetization

"Starting a biz on YT is like coming to open your shop one day, and the mall has just moved you to the other end where there are no customers." – @dwiskus

@MattGiovanisci Ah. Phew! 😅

@MattGiovanisci Wait, are you defending YT here? Haha.

$53,840.47
- your time
- your expertise
- your equipment
- your studio space
- your productions costs

Not super great; even for a solopreneur.

YT is not a benevolent benefactor!

If YouTube was being honest, they'd admit that only 5,000 creators (with 1 million+ subs) come even close to earning a full-time income from YouTube directly.

That's not a super impressive impact TBH.

(5,000 FT jobs is roughly equivalent to a mid-sized company in the USA)

@JareerSamad That facet is exaggerated too.

Creators have always had to do arbitrage on bigger platforms; that's the whole promise of the internet (more reach/leverage for the average person).

YT can't just take credit for $20.5B in GDB. It's way more nuanced than that.

🚩 Third red flag:

Let's move on to YouTube's coveted class: the 5,000 creators with more than 1 million subs.

@shelbychurch reported $169,473.80 in ad rev from her main channel in 2020.

This is before network fees, production expenses, accounting costs, hires, equipment, etc

I'd say @JimmyTriesWorld is one of the lucky YouTube creators at the 100k subscriber mark.

Depending on the algorithm, and the content of your channel, creators can earn far far less.

Those 38,000 creators that YouTube is trumpeting? Many are struggling financially.

If "100k subs" = "middle class" in YouTube's creator economy, they are being woefully underpaid.

Many of these creators are dedicating FT hours, and are essentially running full-production media companies.

They also have to pay for contractors, music licensing, equipment, etc.

🚩 Second red flag:

How much does a creator with 100k subscribers make from YouTube's monetization options?

@JimmyTriesWorld shared his numbers from 2020:

👍 100,000 subscribers
📺 Nearly 10 million views

💰 $47,004.51 from YouTube ads
💸 -$14,710 in costs
😞 $34,000 net rev

🚩 The first red flag:

How can YouTube be creating 394,000 full-time jobs, when there are only 38,000 US channels with 100k+ subscribers and 5,000 channels 1 million+ subscribers?

On page 8:

"YouTube’s creative ecosystem contributed $20.5 billion to the US economy in 2020 and supported 394,000 full-time equivalent jobs."

Sounds impressive, doesn't it? That's a lot of creators earning a FT income!

But those numbers are incredibly misleading.

Tech giants like FB & Google are trying to take credit for the creator economy.

I've been reading YouTube's "state of the creator economy" report. It's self-aggrandizing, and completely misrepresents YouTube's financial impact on creators.

https://resources.oxfordeconomics.com/hubfs/YT_OE_ImpactReport_.pdf

🧵

This. https://twitter.com/jonasdowney/status/1455910779283255296

RT @mijustin: When it comes to sales/marketing, individual founders (and startup teams) bring their accumulated skills, resources, experien…

@mjwhansen Clearly a Kenny Loggins reference

https://youtu.be/VS52sEUqxMo

A reminder: lots of folks (including me) are quick to dismiss other people’s approaches when they don't line up with their personal experience.

One person's approach might not work for another.

Let's not discourage people from exploring approaches that might work for them. 👍

When it comes to sales/marketing, individual founders (and startup teams) bring their accumulated skills, resources, experiences, connections, and passions to the table.

☝️ so naturally, everybody is going to need to forge their own path.

Over years, your marketing efforts accumulate, but they also “cross-pollinate” — one audience/channel can amplify another.

For example: if you build a 1,000 subscriber mailing list, it’s easier to launch a YouTube channel, do a Product Hunt launch, etc…

Podcasting, community, writing, and Twitter have all turned into pretty good marketing channels for me.

But when I started in 2008, I had a very small audience.

Over time I gradually built up each channel.

The traction I have now is just years of “accumulated growth.”

Too often, startups treat marketing as if it’s about turning on different taps to see which one works right away:

“Tried blogging, but we only got a few visits so we stopped.”

“Ran some ads, but we didn’t get any sales.”

“Created an affiliate program but no one signed up.”

Strong sales/marketing is cumulative: it’s the gradual accumulation of assets, skills, experience, and connections over time.

Strong/sales marketing is also category specific: what works in one category might not work in another.

“I’m going to try YouTube ads, because I saw it work for X.”

When you see someone “killing it” with a particular marketing approach, what you’re not seeing is all the groundwork that went into that channel before it started to gain traction.

@yongfook @bannerbearHQ Nice! That expansion revenue is looking solid!

RT @dominicstpierre: My friend @valsopi and I started The SaaS Marathon podcast https://www.saasmarathon.com/ where we share our story for our re…

@noahwbragg For middle-class households, “housing wealth represented between 50 and 65 percent of total assets.”

https://blog.firstam.com/economics/homeownership-remains-strongly-linked-to-wealth-building

In North America, home ownership is the primary driver of net worth for most people.

Do you think that will change?

@neilquinn In this case it sounds like they put 90% of their net worth into crypto. https://twitter.com/ericosiu/status/1454937145706221568

@sambreed I watched that with my boys a month ago!

Surprisingly better than I remembered.

@yongfook Yeah, I asked about that (that was my first thought too).

Here’s the ages: https://twitter.com/ericosiu/status/1454946450958389255

@iChris It’s a small price to pay.

@ericosiu @amandanat Curious: what ages are the sample group? Are these younger folks?

90% of their net worth in crypto!?!

This is sure starting to feel like a speculative bubble. https://twitter.com/ericosiu/status/1454934978832343047

@onmyway133 @JordanMorgan10 @pastepal That’s the most recent. Yes. Avail from that same url

@onmyway133 @JordanMorgan10 @pastepal It’s at https://devmarketing.xyz

@DanPriceSeattle @TimHerrera That story is an old Louis CK bit:

https://youtu.be/cx6nhHu84zc

@levelsio Is that month-over-month growth in number of job postings?

@iroughol Yup

@EmmettNaughton @fullstackradio @r00k It’s very good; like going to the best college class on getting hired.

@DidYouWriteThat @nbashaw @danshipper

Great conversation in your reactions to the Ted Lasso season finale.

Really like Rachel's concept of "internal emotional mathematics" that never get checked by someone else. Perfect metaphor. 👍

https://overcast.fm/+n7WTaYW_o

@JimWHuffman @nathanbarry Yeah! I’d love to be on the show. 🙌

@andrewculver https://twitter.com/mijustin/status/1390509706540580871

@andrewculver 👀

Full color ANSI art?

Are you making NFTs? 😄

@emollick Curious: by “place” do they mean only same geographic region, or does the concept also extend to digital spaces (Discord, online groups, etc)

@DCoulbourne @GetTheAudience I need "worldviews with couborne" as a service plz

@GetTheAudience Objective truth = knowable knowledge

Our beliefs are often a reflection of those around us; the people we hang out with most.

This doesn’t mean there’s no objective truth; just that we perceive truth through the screen of our group’s beliefs.

Really great interview with @nathanbarry by @JimWHuffman.

Loved the format. 👍

https://overcast.fm/+sz4xngUlM

@jzraps This might be possible (occasionally); difficult to do in practice because startups are resource-constrained.

Also, for me, Uber isn’t a good business case study.

https://techmonitor.ai/policy/digital-economy/uber-profitability-lyft-didi-aurora

Libsyn: Est. 2004
ConvertKit: Est. 2013

Libsyn has about 12.05% of the paid podcast hosting market.
ConvertKit has 0.34% of the email newsletter market.

Libsyn's ARR is $25 million.
ConvertKit's ARR is $29 million!

The market you're in determines most of your growth potential.

@ryanchenkie Podcasting has been growing "slow and steady" for decades.

It's expanding; but not exponentially.

https://justinjackson.ca/podcasts-and-capital

Your startup’s revenue ceiling and growth rate are mostly shaped by the market category you’re in.

Example: in podcast hosting, Libsyn is one of the biggest. Their ARR is ~$25m.

Not every market can support multiple players at $100m ARR! 🤪 https://twitter.com/jasonlk/status/1453802766313275393

@derrickreimer @colevscode @JackEllis @mariovhamann @statamic @jackmcdade @laravelphp Yeah, adding writers who can use this system is tricky.

(Although... I'm teaching my 18-year-old daughter to do this now. 😄 Just got her set up with a local version of Statamic + taught her how to use GitHub Desktop. We'll see how this goes! 🤞)

@arvidkahl @benediktdeicke @MicroConf @IndieHackers @megamaker Technically, it would be in Buffalo, ND.

Not quite Canada, but close enough! 🤣

@derrickreimer @colevscode @JackEllis @mariovhamann @statamic @jackmcdade I'm wondering if this workflow could work for you:

Use @statamic's static site generator, have it output HTML files to the right folder locally.

Deploy it the way you normally deploy your site?

(Only downside for you: you'll need to install PHP + @laravelphp)

@thethoughtcard Yes!!!! 💯

If you’re a political leader in 2021, and you think “view source” is hacking, you should probably step down.

If elected officials can’t figure out the absolute basics, how are they going to deal with more complicated issues like climate, crypto, etc?

https://arstechnica.com/tech-policy/2021/10/viewing-website-html-code-is-not-illegal-or-hacking-prof-tells-missouri-gov/

Nice rainy, foggy day in #vernonbc

@webby2001 is this report public?

@benediktdeicke @MicroConf @IndieHackers @megamaker Please follow @arvidkahl's lead and move to 🇨🇦

(except, you should move to BC 😄)

@derrickreimer @mariovhamann @statamic @jackmcdade Any interest in just using @statamic’s static site generator, and using Netlify for hosting?

(That’s what I do for Transistor)

An hour with @stauffermatt = very good for the soul.

☀️❤️

@bnchrch Trying to parse this. (Be patient with me, I'm 👴)

When you say "right click + save" are you referring to NFTs and the ability to save JPEGS?

And when you say "social clubs aren't the golf club you go to, but the discord your'e in" are you referring to NFT discors?

@CoachBrockArm @TransistorFM Awwww yeaaaah!!! Thank you. 🥰

@heyjoshwood WHERE

Pretty awesome to see products by other indie makers while reviewing @TransistorFM's books. 👍

Also on YouTube here:
https://youtu.be/cXMp9vsJrbg

"How do you get that circular video overlay on your screencasts / livestreams?"

☝️ I get asked this all the time. 😄

Recorded a quick tutorial video for you. 👍

I’m surprised that Snapchat is still this popular with teens!

@mattwensing Grow ARPU… through higher LTVs? Or through seat counts?

@mattwensing You mean “offering lower pricing?”

@swyx @derrickreimer @TransistorFM @statamic @Netlify Haha. The beauty of having a setup that’s always there and ready to go!

@chris_rempel How does web3 provide social mobility?

@m1guelpf Looks fun! Was this at a conference?

@derrickreimer @TransistorFM @statamic @Netlify Statamic can be used as a headless CMS with their API:
https://statamic.dev/rest-api

@jesseleite85 @derrickreimer @TransistorFM @statamic @Netlify 😊💁‍♂️

@derrickreimer For @TransistorFM's marketing site, we use @statamic's static site generator + @Netlify.

We're really pleased with it. 👍

👏👏👏 https://twitter.com/jmckinven/status/1452652680065728516

“Scientific progress on a broad front results from the free play of free intellects, working on subjects of their own choice, in the manner dictated by their curiosity for exploration of the unknown.” – Vannevar Bush

@marcelladotco Thanks!

@JackEllis @arvidkahl @yongfook @TransistorFM Sharing financials *can* be really helpful (both for others, and us).

But eventually, their utility (on both sides) diminishes.

@TweetsOfSumit @arvidkahl @yongfook @TransistorFM 🎯

@arvidkahl @yongfook @TransistorFM 1. The story arc of “$0 to traction” is the most interesting. After that, as @yongfook said, it’s just not as compelling.

2. Competitors being able to see all your financials puts you at a serious disadvantage.

3. Other types of negative attention (copycats, trolls, etc)

@byvi_co @meepsapp @joshuaanderton 🙏 thanks for sharing it!

@spencerfry @cdixon I don’t dismiss it as a gimmick; but not all transformations are neutral or benign.

New paradigm shifts *should* be challenged.

What worries me now is crypto triumphalists have already declared all crypto tech as “good and worthy.”

Let’s take a hard look at it; push back on it

@yongfook @TransistorFM More here: https://saas.transistor.fm/episodes/why-we-stopped-sharing-our-revenue-numbers

@yongfook Yup. We stopped sharing @TransistorFM’s revenue stats at $30k.

https://justinjackson.ca/30k