Podcast Summary
VSCO: A social media platform for self-expression and creativity: VSCO differentiates itself from competitors by focusing on self-expression, creativity, and user enjoyment, attracting a large Gen Z user base.
The VSCO app, a social photography community, differentiates itself from competitors like Instagram and Pinterest by focusing on self-expression and creativity rather than comparison and social validation. Founder Joel Florie designed VSCO to be a space where users share photos for their own enjoyment, without the pressure of public likes, comments, or follower counts. By prioritizing the beauty of photography and the moment captured, VSCO has attracted a large user base, primarily Gen Z, who value this unique approach to social media. The app has grown organically without relying on addictive features like viral loops and high follower counts, offering a refreshing alternative to traditional social networks.
VSCO prioritizes community and organic growth: VSCO focuses on providing tools and experiences users pay for, values weekly engagement, and grows through word of mouth and user-generated content
VSCO, a photography app, prioritizes organic growth and creating a community where users can find inspiration, hone their skills, and connect with each other privately. With over 20 million weekly active users, VSCO focuses on providing tools and experiences that users are willing to pay for, rather than relying on ads or data sales. The app's growth is driven by word of mouth and users sharing their experiences and unique voices within the community. VSCO's professional-quality tools, such as filters and video creation tools, help users find their style and express themselves creatively. Unlike other social media platforms, VSCO values the weekly engagement of its users and aims to provide an experience that goes beyond just using a tool, but also inspires and encourages creation.
Paid Social Networking: A Surprising Market for Young Users: VSCO's success with 2M subscribers, 10% of 20M weekly users, and 55% under 25, shows there's a market for paid social networking, even for young users with limited income. Staying focused is crucial for growth.
Despite the common belief that people won't pay for social networking, VSCO, a social network started in 2011, has managed to build up a subscription base of over 2 million users, which is 10% of its 20 million weekly users. Surprisingly, over 55% of these paying subscribers are under the age of 25. This demonstrates that there is a market for paid social networking services, even among young people with limited disposable income. Another important takeaway from the discussion is the importance of staying focused as a company, especially during the early stages of growth. As Jason Maynard, who runs field operations at NetSuite, shared, founders often lose focus faster than their customers and get distracted by the next shiny object. However, it's crucial to stay focused on the core mission and say no to distractions more often than saying yes. NetSuite, which has a global penetration of less than 5% in the ERP market, is a good example of a company that has stayed focused and continues to grow. If companies like Facebook or Instagram, with their massive user bases, were able to convert even 10% of their users into paying subscribers, they could potentially generate significant revenue.
VSCO's Business Model: User Data, Subscription, and Value Creation: VSCO does not sell user data, instead uses it to enhance user experience. Charges a globally approachable $20 subscription fee. Focuses on organic growth and user belonging. Invests in video features and has a large presence on TikTok and Instagram.
VSCO, a creative platform, does not sell user data and instead uses it to enhance user experience by understanding content and suggesting related content. The company's subscription price of $20 was chosen to be globally approachable, and the business model focuses on organic growth and a sense of belonging for users. VSCO also sees itself as a tool for creating content to be shared on other social networks, rather than a standalone platform. The company is investing in video features and has a large presence on TikTok and Instagram. Despite having a small number of paid subscribers, VSCO aims to continue growing by providing more value to its users and helping them express their identity.
VSCO: A Platform for Creative Self-Expression and Mental Well-being: VSCO offers a solution to the negative impact of social media on mental health by enabling users to express themselves creatively and share content on various platforms, fostering a diverse community centered around self-expression and mental well-being.
VSCO is a platform that prioritizes creativity and self-expression as a means to improve mental health, providing a safe space for users to be themselves. The negative impact of social media on mental health is acknowledged, but VSCO offers a solution by enabling users to express themselves creatively and share their content on various social media platforms, including Snapchat and Instagram stories. The term "VSCO girl" emerged organically within the community, representing a trend of self-expression and individuality. While the platform predominantly attracts young women, it remains a diverse space for users of all genders and backgrounds. Unlike other social networks, VSCO does not prioritize commerce, focusing instead on building a community centered around creative expression and mental well-being.
Instagram: A Platform for Creative Expression and Connection: Instagram and the Meeting Owl Pro prioritize experiences and connections over metrics, offering unique solutions for fostering creativity, collaboration, and empathy in a digital world.
Instagram is a community and experience focused on creative expression and inspiration, rather than a platform for broadcasting links or amassing likes or followers. The founders' vision was to create a space where people can share their unique perspectives and see the world through others' eyes, celebrating differences and fostering empathy. The platform's lack of focus on metrics like net worth or view counts is intentional, aiming to create an immersive, museum-like experience where users can be inspired to create and express themselves. The recent introduction of the Meeting Owl Pro, a 360-degree video conferencing camera, offers a solution for remote teams to collaborate more efficiently and effectively, allowing them to feel like they're in the same room. The key takeaway is that both Instagram and the Meeting Owl Pro prioritize experiences and connections over metrics and broadcasting, offering unique solutions for fostering creativity, collaboration, and empathy in a digital world.
From photographer to app founder: A journey inspired by podcasts and learning: Determination, a willingness to learn, and podcasts can inspire a non-technical founder to start a successful company despite challenges and mistakes.
Starting a company, even as a non-technical founder, is possible with determination and a willingness to learn. This was evident in the journey of the founder of VSCO, who started using the platform in 2013 and was inspired by the perspectives of other founders shared on a podcast. He emphasized the importance of supporting independent social networks and founders. The founder also highlighted the value of listening to podcasts and reading books recommended by guests to gain insights and learn from others' experiences. Throughout his nine-year journey from being a photographer with his wife to launching a photography app, the founder encountered challenges and made mistakes, including outsourcing the development of the app and then scrapping it, leading to a significant financial loss. However, he learned from these mistakes and eventually built the app in-house. The podcast provided a valuable lens into the world of entrepreneurship and allowed him to connect with and learn from other founders.
Starting small and capitalizing on market needs: Identifying a market need and creating a solution, even with limited resources, can lead to significant success. Capitalize on opportunities to expand and adapt to changing market trends.
Identifying a market need and creating a solution, even with limited resources, can lead to significant success. The founders of Visco Film started with a desktop plugin and made a quarter of a million dollars in sales through social media and a simple website. They then used this success to launch a paid app during a time when apps were not yet taken seriously as revenue generators. However, they saw an opportunity to capitalize on Apple's focus on improving the camera quality of their new iPhone model. This shift towards mobile photography resonated with the masses and led to the democratization of creative expression through accessible technology. While some may argue that the quality of images taken with smartphones may not compare to that of SLR cameras, the fact remains that more people have the opportunity to express their creativity and share their perspective on the world. Ultimately, every tool serves a purpose. While there may be a place for traditional photography equipment, the convenience and accessibility of smartphones make them an essential part of the creative toolkit.
Revisiting the past photography process: VSCO app fosters creativity and learning through imperfect images and a supportive community, prioritizing self-expression over broadcasting
The VSCO app aims to recreate the magic of the past photography process by bringing back the moments of reflection and learning from captured images. This process involves the imperfections and learning opportunities, much like flipping through a contact sheet in a darkroom. The app also prioritizes a safe and inclusive community where creativity is celebrated and differences are respected. The community guidelines are strict but intentional to maintain this vision. The feed is displayed chronologically by default, allowing users to see their content in the order it was created. Despite the challenges of managing a community, VSCO's focus remains on self-expression and creativity rather than broadcasting to as many people as possible.
VSCO's content curation approach: Personalized and safe space for users: VSCO prioritizes user trust and authenticity over algorithmic recommendations, creating a personalized and safe space for users to express creativity and foster community.
VSCO's approach to content curation is centered around creating a personalized and safe space for users, rather than relying solely on algorithms. The platform begins with a feed of content based on user engagement, followed by a discover section with algorithmically recommended content and editorial work. However, VSCO's team prioritizes user trust and authenticity over algorithmic recommendations. They avoid incentivizing users with likes or engagement metrics, instead focusing on fostering creativity and self-expression. This mindset is reflected in the company's origins, as founders Henrik and Pedro pivoted from a virtual reality startup to a financial services company, Brex, which prioritizes startups over individual founders' credit history. Both VSCO and Brex demonstrate the importance of understanding user needs and creating solutions that prioritize user experience and trust over external incentives.
Brex: Modern Corporate Cards for Startups with Automatic Receipt Matching: Brex offers modern corporate cards with automatic receipt matching, benefiting startups, and Joe Flores of VSCO emphasized the importance of staying true to mission and vision, even if it means turning down lucrative offers.
Brex offers modern corporate card solutions with automatic receipt matching, eliminating the need for manual reconciliation, and providing substantial rewards. This is particularly beneficial for venture-backed startups based in the US. Joe Flores from VSCO shared his experience of turning down billion-dollar offers due to their commitment to their mission and vision, which is to help people fall in love with their creativity. The debate on art creation, whether it's for oneself or the audience, was discussed, with the consensus being that artists are often fully appreciated posthumously or when they're no longer in their creative prime. The importance of taking a long-term view and staying true to one's mission was emphasized.
The future of photography: community and collaboration: Invest in yourself and build a community to foster creativity and collaboration in the evolving photography industry
The evolution of technology and the photography industry may have led to changes in how photographers make a living, but it also presents new opportunities for creatives to tell their unique stories and build communities. The availability of resources and tutorials online has democratized photography, allowing anyone to learn and experiment with new techniques. Rather than focusing on the tools used, it's essential to develop a distinct perspective and engage with others in the field. The future of photography and creativity lies in fostering a sense of belonging and community, where individuals can connect and inspire one another. The shift in the industry may have seemed like a loss, but it opens up new avenues for expression and collaboration. So, if you're a creative, invest in yourself, and remember that your unique story is worth telling.
VSCO's expansion to Oakland and Chicago: VSCO values community and connection, leading them to establish studios in Oakland and Chicago, two cities with large user bases and thriving creative scenes.
VSCO, a creative platform, values community and connection both online and offline. They have studios in Oakland and Chicago, the latter being their second headquarters due to a large user base and thriving creative scene. Oakland, specifically, is seen as an advantage due to its diverse community and growing acceptance of creativity in various forms. Chicago, with its large community and growing Gen Z creativity scene, is another hub for VSCO. VSCO has a global presence with paying subscribers in over 160 countries, making it a truly international platform. The company's expansion seems intentional, with a focus on regions like Southeast Asia where smartphone adoption is on the rise and people are looking for new forms of self-expression.
Authentic engagement and community building for consumer value: VSCO's success lies in its focus on creating value for consumers through genuine interactions and community building, resulting in a shift towards a subscription model and alignment with Gen Z preferences.
Focusing on creating value for consumers through authentic engagement and community building, rather than just translating content, has been a successful strategy for VSCO. This approach has led to the company's shift towards a subscription model, which not only generates reliable revenue but also aligns with the values and preferences of the growing Gen Z consumer demographic. However, this focus on social mission and consumer value has been met with skepticism from some in the venture capital community, who prioritize profitability over cause-based businesses. But as this demographic continues to grow in influence, it's expected that companies with a social mission will become the industry leaders.
Companies can make a positive impact on mental health by aligning their mission with consumer needs: Companies can address mental health concerns by evolving with consumer needs, such as focusing on privacy or creativity, and prioritizing consumer value
Mental health is a pressing issue, especially for Gen Z, and companies can make a positive impact by aligning their mission with a business model that resonates with consumers. People are increasingly aware of the negative effects of social media and are seeking out alternatives or counterbalances, such as investing in creativity or privacy-focused platforms. Capitalism, with its constant evolution, presents opportunities for new companies to address emerging consumer concerns. For instance, privacy concerns have led to the mainstream popularity of VPNs and Apple's focus on user privacy as a selling point. Companies like Twitter could consider removing features like retweets and likes, which can contribute to anxiety and dependency, to better serve their consumers' interests. Ultimately, the key is for companies to prioritize delivering value to their consumers and addressing their needs in a meaningful way.
Understanding needs and working towards common goals: Validation, clear mission, values, growth mindset, and understanding others' needs are crucial for personal and professional growth.
Validation, understanding the needs of others, and having a clear mission and values are essential for personal and professional growth. Obama's viral message about the importance of action resonated with many because it touched on the human desire for validation and the need to feel seen and known. Similarly, in our personal and professional lives, understanding the needs of those around us and working towards a common goal can lead to greater success and fulfillment. Setting a clear mission and values for ourselves and our organizations is crucial for maintaining focus and ensuring that everyone is working towards the same goals. Additionally, having a growth mindset and a commitment to doing things right are important for continuous learning and improvement.
The Importance of a Clear Company Mission: Read 'The Advantage' by Patrick Lencioni to prioritize mission and goals, hold team meetings to address issues, and bond with colleagues through new experiences.
Having a clear company mission is crucial for prioritizing tasks and resolving team dysfunctions. The books "Peak" by Chip Connolly and "The Advantage" by Patrick Lencioni were mentioned as helpful resources in understanding this concept. Lencioni's book, in particular, emphasizes the importance of organizational health and holding off-site meetings to address team issues. The speaker recommends reading "The Advantage" and encourages listeners to prioritize their mission and goals before tackling a to-do list. He also suggests trying new restaurants, like Agave in Oakland, as a way to bond with colleagues and explore new experiences.
Reflecting on personal experiences at the jewelry mart: Personal experiences shape us and the loyalty to companies that resonate with us is valuable.
The jewelry mart, where the speaker had his high school prom and bought his wedding ring, holds significant personal memories for him. During a brief pause in their conversation, he reflected on the bill from an Uber ride there, realizing the importance and impact of the various life moments he had experienced at the location. Additionally, the speaker endorsed the visual supply company, VSCO, encouraging listeners to pay for its membership despite the upsell. He appreciated the company and expressed his admiration for its mission. Overall, the conversation highlighted the significance of meaningful personal experiences and the value of loyalty to companies that resonate with us.
