The Rise of Entrepreneurial Creators
It seems like social media stars are shifting gears. Many are moving away from brand contracts to become entrepreneurs, developing their own products and investing in startups.
- Warner Bailey’s Assistants vs. Agents and Alex Poscente’s Ivy Insights exemplify this trend of creators branching out.
- Brett Perlmutter, founder of BulletPitch, is aiding creators in making startup investments during exclusive dinners in New York.
Social media influencers, who built their brands on platforms like YouTube, Instagram, and TikTok, are now using their large followings to venture into areas like software and entrepreneurship. This transformation is anticipated to disrupt multiple industries.
Warner Bailey, who heads Assistant vs. Agent, comments on this evolution: “Previously, you’d create a product first and seek distribution. Now, we have the audience and trust, allowing us to craft products from that foundation.”
At just 34, Bailey represents a new wave of creators capitalizing on the booming creator economy, projected to be valued at $250 billion in 2023 and anticipated to nearly double by 2027.
Starting out in 2018, Bailey’s Instagram account parodied the entertainment industry while he was still at WME. Fast forward to now, and he leads a team of 15, producing a newsletter and hosting live events that generate substantial engagement, reaching millions monthly.
Building trust takes time, Bailey notes, and that steady effort is now paying off.
Meanwhile, Ivy Insights caters to the tech space. Founded by Alex Poscente, a 27-year-old with a background of advising notable figures, Ivy aims to empower creators to become co-founders through app development.
Pocente shares insights about the changing landscape: “AI has democratized platform creation. Products are now viewed as commodities, and the unique asset becomes the community you build.”
Ivy’s first app, Creator Hub, supports creators in managing their businesses. Collaborating with Carrington, a comedy creator with millions of followers, they are aiming for broader impact.
Beyond Creator Hub, Ivy plans to launch other applications, further diversifying their reach and connecting with an audience totaling around 50 million followers across several creators.
Significantly, creators have historically only seen a small share of the revenue generated on platforms, even though they collectively generate substantial revenue globally. Poscente emphasizes the necessity for creators to own their own narratives now that they have built substantial followings.
Over at BulletPitch, the focus is on a different form of ownership. Creators are given a chance to invest in startups directly, fostering a collaborative ecosystem.
Brett Perlmutter, the founder, suggests that creators add unique value due to their audience engagement. He started BulletPitch as a newsletter in his dorm room, and it has since evolved into a series of networking dinners connecting creators with startup founders.
During these gatherings, if a creator resonates with a founder’s pitch, they can choose to invest within their network, aiding both sides in leveraging their strengths.
BulletPitch has already invested in numerous startups, gathering nearly $10 million in assets. For creators, this model provides not just potential financial return but the ability to play a pivotal role in business ventures, something beyond mere promotion.
“Captivating attention is becoming the key differentiator in business today,” says Perlmutter. As the landscape evolves, it appears that this model might redefine how creators operate in the commercial space.
