The economy of attention, passion, and money
September 25th, 2020
The Attention Diet, by Mark Manson
- Distractions aren’t just unproductive; they’re anti-productive. They create more work than they replace.
- The attention economy of the 21st century calls upon us to invent an attention diet.
- In a world with infinite information and opportunity, you don’t grow by knowing or doing more; you grow by the ability to focus on less correctly.
- The idea is to regularly stretch your attention span and ability to focus and exercise it like a muscle.
The Pandemic Has Created a Class of Super-Savers, by Joe Pinsker
- The country’s "personal saving rate"—the share of people’s disposable income that gets saved or invested—has rarely exceeded 10 percent in the past 20 years, but it shot up to more than three times that in April.
- People are spending less on daily comforts that are now dangerous or merely unnecessary, including eating out, entertainment, new clothes, and extracurriculars for their kids.
- There are humane responses, and they certainly don’t hurt. But they are no substitute for government policy.
1,000 True Fans? Try 100, by Li Jin
- If you can convince a small number of super-engaged people to pay more, you can also have a general audience that pays less.
- There is a move away from the traditional donation model—in which users pay to benefit the creator—to a value model, in which users are willing to pay more for something that benefits themselves.
- The user is paying for satisfying a desire for improvement, transformation, and exclusive access.
- The creator starts with the user’s needs and pain points, who are usually motivated by self-interest.