Lenny Distilled

Monetizing passions, scaling marketplaces, and stories from a creator economy vet

August 20, 2023

Featuring: Camille Hearst (Head of Fan Monetization, Spotify)

5 quotes · 4 insights

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Keep your secret roadmap actually secret

Start preparing to sell your company from the moment you found it which is a weird thing because obviously, if you're starting a company, for most founders, they want it to be the next big thing, they're not starting it in order to sell it, but it's a good thing to have on your radar because you never know what the future holds.
Camille HearstHead of Fan Monetization, Spotify 00:26:42

Consumer subscription lacks B2B's natural advantages

We call it internally the hamster wheel of content creation. You get on because you love it and then how do you get off.
Camille HearstHead of Fan Monetization, Spotify 00:12:52

Marketplaces need supply before demand

I actually just think they're two-sided and you start with the supply and at the end of the day, you can optimize for the demand side or choose who you're going to prioritize in terms of if there's a conflict, we're going to pick this side or the other.
Camille HearstHead of Fan Monetization, Spotify 00:31:31
In a marketplace like that where it's real time people trying to get a cab to go from uptown to downtown, you see the inexperience firsthand the impact to your business if you don't have suppliers, if your suppliers aren't happy, if they go on strike, if there's regulations that mean you can't use your service.
Camille HearstHead of Fan Monetization, Spotify 00:30:17

Unit economics are the real PMF test

To some degree, there has to be a value exchange that happens in order for a creative person to live from their art.
Camille HearstHead of Fan Monetization, Spotify 00:09:29

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