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- YouTube's $20 Decillion Fine 💸
YouTube's $20 Decillion Fine 💸
Russia hit Google with a 35 digit fine, which I know is a 'decillion'. And yes, that's more than the total wealth of the world. Or 100 billion trillion times the wealth of Elon Musk. And although Google has pulled out of Russia, this symbolic gesture, a result of YouTube enforcing it's terms of service and removing Russian propaganda channels, has echos of the US TikTok ban. Are we doomed to return to non-global social media?
Doctor Evil would be proud.
Russia has now slapped Google with the largest fine ever: $20,000,000,000,000,000,000,000,000,000,000,000.
And it’s increasing by the day.
This is symbolic, but there has been a drumbeat of clashes between governments and social media networks’ terms of service, notably the U.S.’s impending TikTok ban and the G.O.P.’s insistence that their views are being unequally censored.
So what the heck are platforms supposed to do to keep everyone happy?
Also in this edition:
Kai & Kim Kardashian Kollab
Amazon Primes Spotter for Success
TikTok Shop Venmos for the Holidays
Job ops from Meta, Acquisition.com, and Insight Media.
…and a dank creator economy meme by yours truly!
Let’s get into it.
NEWS:
2024, Dall-E 3
YouTube blocked Russian media outlets for terms of service violations. And this was before the invasion or Ukraine.
Google has already withdrawn from Russia, but this lawsuit is yet another example of the tension all social media networks are experiencing.
How should platforms appease advertisers, users, governments, and, dare I say, their own ethics?
My hot take: Just focus on users.
The lifeblood of every platform is user growth, usage, and engagement.
And if you’re super-serving your customer, everything else falls into place.
These platforms are for-profit institutions, not town squares. If government representatives want to scream ‘Freedom of Speech!’, they should pay them for it.
Unless restrictive terms of service start to affect your user base, then adjust.
Happy users mean happier brands. And, lucky for ethics, users generally like platforms that aren’t full of hate speech and trolling.
So, who cares if Russia sues you for more wealth than the entirety of the known universe?
Unless you need Russian users to keep user growth strong, keep the propaganda banned.
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Kai Cenat became one of the biggest streamers in the world through his wild multi-day, 24/7 streams with huge collabs from Kevin Hart to John Cena.
And the announcement for Mafiathon 2 didn’t disappoint, featuring Kim Kardashian as his therapist in a Sopranos parody.
So what can we learn from Kai’s strategy?
My hot take: He’s the ‘authentic’ MrBeast.
Spectacle has taken over YouTube, but most creators can’t afford to build a candy factory or bring hundreds of contestants together to play ‘Squid Games.’
But Kai can do the same thing through genuine creativity, having interesting conversations, and streaming fascinating situations.
AI will reduce the cost of ‘big’ videos, but AI can’t replace magical, human moments.
And, right now, Kai’s the king.
You save a lot of money thinking creatively rather than just doing something expensive.
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Spotter has paid out nearly $1 billion to creators in just five years through their ‘video catalog licensing’ deals.
So, who better than Jeff Bezos to help them uplevel their offering to creators?
The amount wasn’t disclosed but they did position the deal as strategic. Lots talk about bringing Spotter creators closer to Twitch, Amazon Live, And Amazon MGM Studios.
I know why Spotter would take the deal, but why would Amazon care about Spotter?
My hot take: Amazon is becoming an advertising heavyweight, and Spotter’s position in the market is an ideal match.
Amazon captures a staggering 8.8% of digital ad spend, but they’re quickly growing their market share against their competitors.
But Amazon’s creator initiatives have been…let’s just say…uninspiring.
Amazon Live hasn’t been nearly as exciting as TikTok Shop for creators.
Twitch is still killing it with gamers, but far too few non-gamers are considering Twitch to be necessary to their content mix.
And Amazon Prime Video doesn’t feel like there’s been a real influencer play.
Spotter now controls the ad inventory of huge creators like MrBeast and Dude Perfect, but that’s a small part of the story.
They launched the current leading AI software for creators which feels like a play to build relationships with more mid-tier creators.
Spotter needs Amazon, and I think Amazon could really use someone like Spotter.
FAME & FORTUNE:
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TikTok Shop partnered with Venmo before the holidays to make transactions even more seamless. The products are getting better and the experience has vastly improved. Too many creators are sleeping on TikTok Shop because of their clunky early reputation.
The Creator Method was featured in a New York Times article that highlighted both the opportunity of launching creator classes for influencer wannabes and the danger for creators who can be taken for thousands of dollars in hopes of fame and fortune. My take: education is awesome, but there are tons of free resources that are just as valuable as paid workshops.
Hummingbirds raised $10 million in seed funding to continue building their platform focused on hyperlocal influencer marketing. This is a $175b market that currently doesn’t have a solution, so if you’re a hyperlocal brand or creator (think college athlete or local news anchor), this is definitely one to keep your eye on.
Dentsu, the global marketing agency, is taking applications in South Africa for their influencer school. It’s getting harder and harder for marketing agencies to get a leg up from the competitors when it comes to creator relationships, so I expect a lot more creator courting from these types of companies.
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Acquisition.com needs a Senior Director of Marketing to get human beings to buy things…you know…marketing.
Meta wants a Social Lead, Metaverse & Wearables and I’m guessing you’ll get a sweet pair of Ray-Bans out of the deal.
Insight Media is looking for an Influencer Talent Manager (Fashion & Beauty) but only if you have insight to what fall colors fit with my skin tone.
MEME ZONE:
Have we forgiven Matt Damon yet?
Thank you for reading! If you enjoyed this edition, give it a share and if you get someone to sign up, I’ll send you my ‘10 Rep-Friendly Ways to Monetize Today!’ deck!
Until next time, protect yo rep.
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