 |
|
|
|||||
Hollywood is waking up to the power of influencers. That starts with MrBeast. Amazons Beast Games cost hundreds of millions to produce. Some of that came from the streamer, but much of it came from the pockets of MrBeast, whose real name is Jimmy Donaldson. On the Diary of a CEO podcast, he estimated tens of millions in losses from the show, admitting that he was an idiot for spending so much. But it was all for one goal: To knock down the Hollywood door so other creators could score their own production deals. But MrBeast misunderstands the power balance. In the attention economy, influencers have the eyeballs right now. Amazons acquisition of Beast Games was massively successful; the show garnered 50 million viewers in just 25 days, Amazons second largest series debut in 2024. Did MrBeast get any new fans? Likely not, given how critically panned the show was. MrBeast got fleeced by Amazon, and is setting up more creators to do the same. The streamer gets the viewers, while the influencers are left in the red. Who has the power: MrBeast or Amazon? MrBeast dug into his own pockets to produce Beast Games. His deal with Amazon was reportedly worth around $100 million. But, on Diary of a CEO, he acknowledged that spending for the show went far beyond thatand the excess came from his own funds. Even just the first two episodes sets cost around $15 and $14 million, respectively. I would have more money if I didnt film it, he said. A deal between Amazon and MrBeast has the promise of being mutually beneficial. Amazon gets the eyeballs of every 10-year-old munching on their Feastables. MrBeast gets some cash to produce the show, plus the possibility to expand beyond his cloistered YouTube presence. But MrBeast seems to have faltered on both of these gains. Spending tens of millions out of pocket, the Amazon investment didnt save him from going into the red. (Plus, hes likely racking up legal fees after contestants sued him and Amazon for sexual harassment and chronic mistreatment.) In terms of audience expansion, the results look dismal, too. Reviews panned Beast Games, calling it an undignified spectacle and surprisingly dull. His follower count has grown modestly throughout the shows release, but there was no noticeable spike. Its hard to imagine anyone watching Beast Games that wasnt already watching his YouTube content. For Amazon, amassing 50 million viewers in 25 days is a feat. The only show to grow quicker on the streamer in 2024 was Fallout, and that had the benefit of video game IP. But, for MrBeast, 50 million viewers is chump change. His videos frequently reach that threshold within days, if not hours. Ultimately, Amazon needed MrBeast more than MrBeast needed Amazon. While the shine of a streamer is enticing, it didnt benefit his business. The failures of influencers in Hollywood Creators dont have a good rep when it comes to doing stuff on streaming platforms, MrBeast explained on e Diary of a CEO. His goal was to break down barriers, to open up these Hollywood studios to online celebrities. Per his account, it worked: He could think of two creators who had shows lined up based on Beast Gamess success. But theres a reason why influencer shows dont work. They sever the stars from the form theyre famous for. TikToks Hype House could film themselves dancing for hours and hours, but failed when it came to reality television. The Netflix show was repeatedly called depressing by critics, and some cast members say the show fabricated storylines. James Charles is best when hes reviewing makeup; hosting a reality competition show, he flails. Still, these shows do well. Over a year after its release, Hype House was still gaining hundreds of thousands of eyes, per Netflixs 2023 data dump. Hes All That, the ill-fated remake starring TikToker Addison Rae, soared even higher, catching 15 million viewers two years after release. Thats because these creators have name brand. The streamers rake in all those rabid fans, while the influencers brand is diluted. Hollywood is alluring. Everyone wants to be on TV. But, for these online superstars, they seem to give more than they get.
Category:
E-Commerce
Finding fulfilling and motivating work is a challenge for many people, but it can be especially difficult for those just starting their careers. And as Generation Z professionalsthose born between 1997 and 2012increasingly seek personalized career paths, managers are tasked with helping employees find meaning in their roles while also meeting organizational goals. Some managers may view Gen Zs desire for meaningful work as a form of entitlement, but dismissing it can be costly. Research shows that employees who find their work meaningful experience greater job satisfaction, which directly boosts productivity. Meanwhile, ignoring this need can lead to higher employee turnover and quiet quitting. In short, helping younger employees find meaning on the job isnt just good for themits a smart business strategy. As business professors who study meaningful work, we wanted to understand how managers can help younger staff thrive. So one of usKelly Kennedyconducted a research study at Baylor University in which she interviewed a range of Gen Z professionals. Then, together with leadership consultant Shanna Hocking, we analyzed the results to identify three crucial factors that can help managers unlock meaning for early-career professionals. These are self-knowledge, adding value, and relationships. By addressing these areas, managers can foster a supportive environment where Gen Z professionals thrive. The 3 keys to meaningful work Self-knowledge is about understanding who you are and what you value, and recognizing your strengths and weaknesses. Research shows self-awareness can be a powerful tool for creating a productive and engaged workforce. To help Gen Z employees develop self-knowledge, encourage them to reflect on what energizes and interests them. To get the ball rolling, you can ask them to think about their college experiences, internships, and important personal milestones. These reflections can help them uncover patterns in what they enjoy and what drives their motivation. Additionally, many Gen Z professionals seek roles that align with their values. Its common for them to focus on developing a sense of purpose that extends beyond a specific job title. For example, one young employee we interviewed, who works in fashion merchandising, told us, I will make things beautiful and that will be my life. This is a flexible sense of purposeone that isnt tied to any particular job, but rather to a bigger vision of impact. A smart manager will connect day-to-day tasks to employees larger goals, helping them see how their contributions fit into the bigger picture. Adding value at work comes down to two key things: feeling recognized and knowing ones contributions make a difference. Our study found that adding value and feeling valued play a crucial role in shaping workplace meaning. For example, when asked what makes work meaningful, a Gen Z worker said, being part of a team where you are able to contribute and directly see the impact of your work, regardless of the level you are at. So, how do you make Gen Z employees feel recognized? It can be as simple as giving praise or as big as offering a raise. But for many young professionals, meaningful work goes beyond just perksits about feeling like their efforts contribute to a larger goal and make a positive impact on society. Finally, how people get work done in the office is often tied to the relationships they have. Previous research has shown that Gen Z professionals are more likely to thrive in work environments that prioritize diversity and inclusion and encourage positive relationships between colleagues. Our conversations with Gen Z workers backed that up: They told us they valued quality relationships, collaboration, and support from managers and colleagues. Managers can foster this type of environment by encouraging team members to meaningfully connect. As a Gen Z private equity analyst shared with us, When you work such long hours, its nice knowing theres others in the trenches with you. Building strong relationships with direct reports is also important. Gen Z professionals value being mentored by their managers and receiving regular feedback and honest communication. Research has shown connection at work is powerful for creating a meaningful environment of trust for employees of all ages. We also found that Gen Z appreciates being able to take risksand potentially failin a safe space. Thats why mentorship programs can be impactful; they help young professionals develop skills, build confidence, and find meaning in their work by providing a safe space for learning and growth. 3 questions to unlock the power of meaningful work Reflection and coaching are powerful tools that help early career employees develop self-awareness, add value, and build strong relationships. This work may seem daunting at first, but its easy to incorporate into the regular conversations youre already having as a manager. To bring out the best in your Gen Z employees, start by asking three simple questions during your next one-on-one meeting. 1. When have you felt most energized at work? Asking this question can help early career employees gain a deeper understanding of what motivates them. By identifying key moments, both you and the employee can gain valuable insight into their priorities and interests. Pay close attention to the specific aspects of their work that spark enthusiasm, and observe nonverbal cues such as body language and facial expressionsthey can reveal just as much as words about what truly excites them. Make it a dialogue by sharing what youve noticed about the employees interests and discussing ways to tap into their motivations. Then, encourage the employee to find tasks and projects that align with their interests and bring them to the next one-on-one to discuss. From there, when assigning new tasks, be sure to highlight how the work connects to the employees interests and the organizations larger goals. 2. Where do you feel you contribute the most? This question helps early career employees recognize their strengths, allowing them to contribute more effectively and feel like a valued part of the team. As they respond, look for recurring themes in how they approach their work and the quality of their output. Help employees see the bigger picture by connecting their efforts to departmental objectives and the companys overall mission. Highlight how their skills and contributions make a differencenot just in their own work but in supporting their colleagues and driving team success. And be on the ookout for opportunities to genuinely acknowledge their contributions in real time, as well as during performance reviews. 3. Whom in the company do you want to learn from or work more closely with? Bringing up an employees work relationships in a one-on-one meeting might seem unconventional, but its a valuable opportunity to guide them in building strong partnerships. Plus, showing genuine interest in their connections reinforces your own relationship with them. As you discuss their workplace interactions, pay attention to whom they mention and why. Their responses can offer valuable insights into their career aspirations, potential collaboration opportunities, and the relationships they find most meaningful. Also, remember: You dont have to have all the answers. If a Gen Z employee comes to you with a question, use it as a chance to connect them with other team members or subject-matter experts. Encouraging them to seek out knowledge from others not only strengthens their network but also fosters a culture of continuous learning and collaboration. As Gen Z professionals seek more personalized and fulfilling career paths, managers play a critical role in supporting them. Helping early career team members reach their professional goals will, in turn, help organizations reach their own goals. So if youre a manager, asking these three simple questions during one-on-one meetings can lead to happier, more motivated workers and a more productive and stable organization. Kelly Kennedy, Ed.D. is a director of transformative learning at the University of Connecticut. Cathleen Swody, Ph.D. is a managing partner at Foster Talent Consulting, University of Connecticut. This article is republished from The Conversation under a Creative Commons license. Read the original article.
Category:
E-Commerce
President Donald Trump has found a new way to reward his supporters. On Sunday, Trump announced in a Truth Social post that he will issue an executive order creating a Crypto Strategic Reserve that will include Bitcoin, Ethereum, and three other cryptocurrencies. I will make sure the U.S. is the Crypto Capital of the World, Trump wrote. The announcement, which comes days before a White House crypto summit set for Friday, immediately drove up the price of bitcoin by about 10% on Sunday, while boosting ethereum 7%; though the biggest beneficiaries were Solana (up about 20%), XRP (25%), and Cardano (56%), the three lesser-known coins included in the reserve announcement. While a strategic reserve of cryptocurrency has been floated by legislators and advocatesincluding Wyoming Sen. Cynthia Lummis, who has proposed a reserve specifically for Bitcointhere is no clear reason for the government to buy these assets. The real winners are the crypto-loving Trump supporters, crypto lobbyists, and executives who will benefit from the governments investment in their favorite coins. While Trump has not yet issued his executive order with specifics about how this reserve would work, heres the general idea: The government would buy up large quantities of the five named cryptocurrencies and hold them for a set number of years, placing set limits on how and when they can sell. While Trump has not specified amounts, Lummis had proposed that the Treasury Department buy one million bitcoin, now a sum of more than $90 billion by todays prices (one bitcoin costs about $90,000). Additionally the government would be barred from selling the coins for 20 years unless theyre spent paying down the national debt. The government already holds more than 200,000 tokens (about $18 billion) from assets seized in criminal and civil proceedings, so a reserve could mean that it is unable to sell the coins its already acquired. In August, experts told Fast Company that holding volatile assets such as cryptocurrencies could create significant liabilities for the government, which is counted upon for stability in times of economic crisis. At the time, Todd Phillips, an assistant professor of law at Georgia State University, called the idea of a Bitcoin strategic reserve a pump scheme that would solely reward current holders. Critics have lambasted the move as a waste of taxpayer money, especially as the government makes critical cuts to federal employment, scientific research, and international aid. While he chokes off cancer research and fires VA researchers, the President is using your taxpayer dollars to buy crypto and enrich his personal allies, Washington Sen. Patty Murray wrote on X on Monday. Even some Silicon Valley mainstays who have been supportive of Trump came out against the reserve. Palantir cofounder Joe Lonsdale said that while hes pro-crypto and supports the administrations cost-cutting efforts, the government shouldnt be buying crypto. Cut it out with these schemes guys, he wrote on X on Sunday. Investor Jason Calacanis echoed that sentiment: Its a terrible idea to spend tax payer money buying the crypto bags of the people who donated many millions to him, he wrote on X. Its an even worse idea to pick winners like this. Taxation is theft. It should be kept to a minimum.Its wrong to steal my money for grift on the left; its also wrong to tax me for crypto bro schemes.Efficient defense, courts, national parks (should fund themselves), prisons, etc – fine. Cut it out with these schemes guys. https://t.co/owIdAJvXoA— Joe Lonsdale (@JTLonsdale) March 2, 2025 According to one preelection poll, Trump was disproportionately supported by cryptocurrency holders who supported him 12 percentage points more than his rival U.S. Vice President Kamala Harris. As such, he campaigned on the promise of boosting crypto: You’re going to be very happy with me, Trump told attendees at the Bitcoin 2024 conference in July. If Bitcoin is going to the moon . . . I want America to be the nation that leads the way. While Trumps crypto faithful supporters cheer the announcement, its clear that this isnt about promoting economic stability or making important investments but rather rewarding a key constituency of the MAGA movement. And the American people are fronting the cost.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||