EP27: Nobody Makes Any Money Doing Anything Anymore

Nobody makes any money doing anything anymore. Welcome to the new gig economy!

Show Notes

Phew Continues His Obsession with Name Dropping

  • Phew is all jacked up on caffeine
  • Phew keeps narrowly missing famous comedians (how many names can he drop in one paragraph?)
  • Louis CK
  • Dave Chappelle
  • Hannibal Buress
  • Theo Von
  • Big fans of Theo Von; check out This is Not Happening
  • Phew drops another name – was on James Altuchur’s podcast recently
  • People tune in to some people just to hear them talk about ANYTHING – the topic is secondary to the personality

How Phew Destroyed Unc’s Career

  • The story of how Phew got into comedy
  • Mark Ridley approached Unc and asks him if he is serious about comedy
  • Unc convinces Phew to try stand up
  • Unc tells Gilda Hauser about Brendon
  • Gilda: He’s not as good as you led me to believe
  • Brendon delivers as Unc predicted
  • Ridley also approached Phew; but this time, he offered Phew a contract to pursue comedy full time professionally
  • Phew’s success led to Unc’s demise on the Detroit stand up comedy scene
  • Unc went from being his own personality to becoming “Phew’s uncle”
  • Brendon is one of those people whose material is secondary to his personality
  • Phew was invited to comedy podcast “Nobody Likes You
  • Only places you can pursue comedy: New York or LA

We FINALLY Get to the Actual Point of the Podcast

  • Finally, we get to the topic: nobody makes any money doing anything
  • The old template: high school – college – corporate job – live of retirement
  • Now, we have the gig economy and the economic polarization of America
  • Everybody Phew knows has a side hustle
  • Many people have multiple side hustles
  • Phew has never earned a dime from doing 100 ish podcasts
  • Phew has done thousands of hours of stand up comedy and earned almost zero from that
  • Phew has written articles on Quora that have something like 7 million reads and has earned nothing from that
  • All of the spaces are privately owned in which discovery is based on algorithms
  • The head of digital news at NBC: “You cannot organically grow your YouTube channel beyond a certain point”
  • After that, you have to pay to play
  • City of Chicago now requires an entertainment license; this means many smaller establishments can no longer afford that, as it’s $500 per month
  • Phew has a number of online courses on various educational platforms that are highly rated
  • Even though they are top sellers, they have earned almost no income

Technology: At Some Point, Will Kill Us All

  • What’s the common denominator in all of that? Technology
  • Technology is destroying a lot of people economically
  • Everyone can create decent content
  • Very few people have the means to monetize it

Best Advice EVER

  • The single most powerful piece of advice I’ve ever received, from New York Times bestselling author Stefan Swanepoel: Making quality content is only 20% of the game; the real key, promoting it, is 80% 
  • Competition paying people to rate Phew’s course poorly?
  • Astroturfing is now a major thing
  • You have to wear so many hats to make money with online courses
  • Thinkific is the place to do that
  • Technology has sped up the process of wrecking everything that happens after the gold rush
  • Something gets popular
  • Someone leverages it and makes a lot of money
  • Others see that and then rush in
  • Competition increases, profits decline, everyone loses
  • Unc had an average of 500-1,000 people showing up on webinars
  • Facebook has changed its advertising policies for the worse
  • Advertising a $750K home to an 18 year old? WHY?
  • Number one thing American kids want to be? A YouTube star

In the Future, We’re All Like Porn Stars

  • Everything has become like a porn star: constant reinvention is required to survive
  • A bunch of documentaries about life after porn
  • Porn is constantly on the prowl for the next hot young chick
  • ALL OF US ARE LIKE THIS NOW: constantly remaking ourselves into something else
  • If you don’t have those accoutrements around you, you’re nothing
  • You should be doing more stuff – that’s the way the market looks at you now
  • You have to be on ALL OF THE PLATFORMS
  • Platforms are constantly shifting
  • TikTok is just another Vine
  • Unc made a major investment in Twitter, to get up to 55,000 followers

The Attention Economy

  • You can’t be great at every platform – that thought alone almost ruined Unc’s interest in “the next platform”
  • When you KNOW today’s platform will become obsolete at some point, how much can you invest in ANY platform?
  • Gary V: how to turn one piece of content into 70 unique pieces of content (it’s 64, actually)
  • Gary V jumps in on EVERYTHING that’s new
  • He wants to lead in every new platform – that’s how he maintains his position and status
  • People who happen to be good at sales and marketing can succeed putting out marginal content
  • Gary V’s entire approach: go where the attention is
  • The attention economy

My Podcast Just Started a Podcast

  • Does anyone NOT have a podcast these days?
  • The irony of saying “who doesn’t have a podcast” on a podcast
  • Phew has THREE podcasts: Uncphew, The Madness Continues, and Funny Planet
  • A reason to do a podcast: being discovered, ala Candace Owens
  • No one knows where any of “this” is going
  • The pace at which technology is evolving is causing big companies to hesitate to invest

RIP, Google Plus

  • The story of Brad Horowitz at Google Plus, which was supposed to rival Facebook
  • Unc interviewed Horowitz back in 2011
  • Google spent a fortune trying to make something to rival Facebook – now, I Unc can’t even remember the name of the platform
  • The importance of doing things for which you have REAL passion
  • Phew can’t picture life without stand up comedy

Comedic Passion Personified

  • Chris Newberg now has a podcast, and has cranked out a TON of episodes overnight
  • Worked with Russell Peters and Dane Cook
  • Had number one comedy album on iTunes for 2019
  • Newberg is pursuing comedy for the same reasons as Phew is: for the love of the game
  • Phew hired a business coached: from now on, you’re not going to do any comedy for free anymore (can’t stop LOL’ing!)