Powering the passion economy

Our investment in Geneva

For long, creators have been harnessing the power of broadcast social media to reach millions of people. Be it Charli D’Amelio with 100M TikTok followers, PewDiePie with 100M YouTube subscribers, or Amanda Cerny with 25M Instagram followers, those platforms have enabled all sorts of influencers to reach celebrity status by delivering content to a community of followers.

However, by looking only at those astronomical numbers, one is missing the bigger picture: social media slowly decentralized content creation.

Inspired by the success of those influencers, the common person started to create content and profit from doing something they love – aka the “passion economy”.

The truth is everyone has a non-commoditized, unique skill and passion. Catapulted by Covid-19, millions of people turned those interests into services, enabling a far wider range of content creators than ever thought possible. Suddenly the yoga teacher, the personal trainer, and the restaurant chef were all forced to go digital.

Their creativity, however, did not stop at the content. Finding ways to engage and monetize their communities was challenging, as the infrastructure was poor. The yoga teacher coordinated class times via WhatsApp, taught via Zoom, and charged students via Venmo.

To unleash the power of the passion economy, a full-stack infrastructure must exist. From text-based chat to video rooms, Geneva covers it all, enabling leaders to host, build, and monetize their communities while keeping user data private and ad-free.

With Geneva a financial research company may charge membership fees to post curated stock recommendations and an influencer is able to monetize her video channel in the same way that a brand can be built with direct insights from its followers.

When we first met Geneva’s founder and CEO Justin Hauser in June 2020, it became clear that the world needed a main hub for commercially-run private communities; we believe Geneva is going to house them all.

We are thrilled to partner with Justin at such an early stage of his journey.