Such a timely and relevant article given how much creator economy has expanded and how much competition has exploded. Yet the fundamentals remain the same. Virality rewards even less in the long run, probably. Consistency and owning your audience, while diversifying audience platforms and income - that's where it's at!
John, this is a masterclass in applying Charles Ellis’s "Loser’s Game" logic to the creator economy. In a world obsessed with "hitting the jackpot" through viral spikes, we often forget that the most sustainable strategy isn't making the brilliant winning shot, it’s simply avoiding the unforced errors. Most creators flame out not because they lack talent, but because they violate the basics of consistency and audience trust. By focusing on "not losing," you’re essentially advocating for a high-integrity, low-ego approach that prioritizes longevity over the dopamine hit of the algorithm. It’s a sober reminder that in the long run, the "winners" are often just those who were disciplined enough to stay in the game while everyone else was busy chasing outliers.
I’m curious about your experiences coming back from a few wrong turns and dead ends. I’ve recently begun to think that (and write about) the whole “fail fast. fail often” narrative is incomplete and ignores the brutality and pain of failures. It’s necessary but it sucks!!!
What I love is how you talk about finding one’s specificity, which really speaks to me.
I have really niched down as I call it, which was a process that I went through last year. Since then, I can see it working and building. I don’t have to be the top 1 percent, I just need to find my tribe, which owning one’s niche does that.
Love this John! This is something I've come to realize as well through my forays into first Youtube and now Substack: the creator economy is by and large a mirage. I also can't seem to shake the impression that most people making money online are doing so selling pipedreams.
I've decided to squarely refocus on the real economy as a result - although I'm really happy with all the amazing people I've met these last two years creating content. My life is richer as a result.
John, thank you so much for this brilliant article. It really nails the truth about how tough it is to monetize your newsletter yet offers a path through. I've felt many of the pains from mistakes myself, which is why this really connects.
So happy I found you here on Substack. Even happier to find someone who actually gets it.
Experimentation, consistency, and using your social channels as distribution for your core message, not the other way around - it will always win. Your perspective is refreshing and so aligned with what brought me to this platform in the first place.
Building in the creator economy is one of the most important challenges for founders and builders right now - especially for those of us who don't quite fit the mould of what's coming as offers on the jobs market or simply people with a great mission of solving problems. It's messy, it's evolving, and most advice out there misses the point entirely. That's what inspires me too about writing here - the messy middle and the things I wish founders and people, who crave a creative life need to hear.
Really glad to be in the same corner of the internet.
On your “how about you” point first: this absolutely rings true. Most people I know who’ve built something durable stopped chasing attention and started designing systems that could survive a bad week, a bad algorithm tweak, or a quiet month. One hard fact that backs this up is from Goldman Sachs, whose research shows the top 10 percent of creators take over 60 percent of brand deal income, which makes audience-only strategies brutally fragile. What I like most here is the reframing of success away from reach and towards control, especially owning the relationship and the economics. It feels closer to running a small, serious company than performing online. When you talk to creators one-to-one, what’s the first operational blind spot you see that stops them turning momentum into something stable?
I like the thinking but the creator economy does not have to remain in the hands of the big companies. With cost of software development reducing by the day, things can become easier to build for everyone
Thanks John for this interesting and extremely generous post. Great to find out more about your back story and you are both the first person I know who swears by their tennis experience for helping to build the foundations of their successes and systems. 🙏
Great post. It seems that similar to any other business sector, the vanity metrics don’t account for much. Being a successful creator still needs solid business fundamentals. I’d love to hear more about how operators can benefit from the creator world beyond just increasing reach
This really lands for me, especially through the tennis lens, which I love. The best players don’t pretend they “should have won” or blame conditions. They walk into the press room and immediately break down their unforced errors, patterns, and talk about what they’ll work on next. That mix of radical honesty and calm problem‑solving is what makes them so compelling.
What you’re describing in the loser’s game feels like the operator version of that: win first by getting brutally specific about where you’re spraying balls into the net in your own system, then redesigning the drills so those mistakes become harder and harder to make. Great article, John!
Such a timely and relevant article given how much creator economy has expanded and how much competition has exploded. Yet the fundamentals remain the same. Virality rewards even less in the long run, probably. Consistency and owning your audience, while diversifying audience platforms and income - that's where it's at!
Completely agree, Chintan. The fundamentals keep winning, no matter how noisy it gets.
John, this is a masterclass in applying Charles Ellis’s "Loser’s Game" logic to the creator economy. In a world obsessed with "hitting the jackpot" through viral spikes, we often forget that the most sustainable strategy isn't making the brilliant winning shot, it’s simply avoiding the unforced errors. Most creators flame out not because they lack talent, but because they violate the basics of consistency and audience trust. By focusing on "not losing," you’re essentially advocating for a high-integrity, low-ego approach that prioritizes longevity over the dopamine hit of the algorithm. It’s a sober reminder that in the long run, the "winners" are often just those who were disciplined enough to stay in the game while everyone else was busy chasing outliers.
Really good stuff, John.
This is such a sharp read of it, Peter. Avoiding unforced errors really is the whole game.
This is a brilliant piece.
Thank you for taking the time to write it.
I’m curious about your experiences coming back from a few wrong turns and dead ends. I’ve recently begun to think that (and write about) the whole “fail fast. fail often” narrative is incomplete and ignores the brutality and pain of failures. It’s necessary but it sucks!!!
I really appreciate that, @Gary Allen . Failure is necessary… and it absolutely hurts.
What I love is how you talk about finding one’s specificity, which really speaks to me.
I have really niched down as I call it, which was a process that I went through last year. Since then, I can see it working and building. I don’t have to be the top 1 percent, I just need to find my tribe, which owning one’s niche does that.
Appreciate that, Maribeth. Finding your tribe matters more than chasing the top.
Love that Maribeth! I’m feeling the same about it.
Interesting breakdown for the creator economy... not a positive outlook according to GS.
Agreed. GS is basically saying the math is unforgiving for most.
Love this John! This is something I've come to realize as well through my forays into first Youtube and now Substack: the creator economy is by and large a mirage. I also can't seem to shake the impression that most people making money online are doing so selling pipedreams.
I've decided to squarely refocus on the real economy as a result - although I'm really happy with all the amazing people I've met these last two years creating content. My life is richer as a result.
I really appreciate that honesty, Jonas. A lot of people feel it but do not say it.
John, thank you so much for this brilliant article. It really nails the truth about how tough it is to monetize your newsletter yet offers a path through. I've felt many of the pains from mistakes myself, which is why this really connects.
I appreciate you sharing that, @Michael Wallace . Those mistakes teach faster than wins.
So happy I found you here on Substack. Even happier to find someone who actually gets it.
Experimentation, consistency, and using your social channels as distribution for your core message, not the other way around - it will always win. Your perspective is refreshing and so aligned with what brought me to this platform in the first place.
Building in the creator economy is one of the most important challenges for founders and builders right now - especially for those of us who don't quite fit the mould of what's coming as offers on the jobs market or simply people with a great mission of solving problems. It's messy, it's evolving, and most advice out there misses the point entirely. That's what inspires me too about writing here - the messy middle and the things I wish founders and people, who crave a creative life need to hear.
Really glad to be in the same corner of the internet.
I’m glad you named how incomplete most advice feels right now, @Valentina Zwertbroek. The messy middle is where the real work actually happens.
On your “how about you” point first: this absolutely rings true. Most people I know who’ve built something durable stopped chasing attention and started designing systems that could survive a bad week, a bad algorithm tweak, or a quiet month. One hard fact that backs this up is from Goldman Sachs, whose research shows the top 10 percent of creators take over 60 percent of brand deal income, which makes audience-only strategies brutally fragile. What I like most here is the reframing of success away from reach and towards control, especially owning the relationship and the economics. It feels closer to running a small, serious company than performing online. When you talk to creators one-to-one, what’s the first operational blind spot you see that stops them turning momentum into something stable?
You articulate the difference between building attention and building a business with real precision
Appreciate that my friend, Dennis. That distinction took me a while to really internalize.
I like the thinking but the creator economy does not have to remain in the hands of the big companies. With cost of software development reducing by the day, things can become easier to build for everyone
I agree. Lower build costs change who gets to play.
Thanks John for this interesting and extremely generous post. Great to find out more about your back story and you are both the first person I know who swears by their tennis experience for helping to build the foundations of their successes and systems. 🙏
Thank you. Tennis taught me more about systems and discipline than I realized at the time.
Great post. It seems that similar to any other business sector, the vanity metrics don’t account for much. Being a successful creator still needs solid business fundamentals. I’d love to hear more about how operators can benefit from the creator world beyond just increasing reach
Completely agree. Vanity metrics rarely pay the bills.
This really lands for me, especially through the tennis lens, which I love. The best players don’t pretend they “should have won” or blame conditions. They walk into the press room and immediately break down their unforced errors, patterns, and talk about what they’ll work on next. That mix of radical honesty and calm problem‑solving is what makes them so compelling.
What you’re describing in the loser’s game feels like the operator version of that: win first by getting brutally specific about where you’re spraying balls into the net in your own system, then redesigning the drills so those mistakes become harder and harder to make. Great article, John!
This is such a strong analogy, Anna.
That honest breakdown of unforced errors is exactly how operators get better without drama or excuses.
What an amazing post John, you are so right! Thank you for sharing your experience and insights. The possibilities are endless.
Great article John. I sensed the passion you have for this as I was reading it. The core message is one of focus, on finding your tribe. Very cool