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The 4 most fascinating storylines in the creator economy that BI's reporters will be watching next year

Tiktok CEO Shou Chew testifying before congress
TikTok CEO Shou Chew pictured testifying before Congress. His app could soon be banned in the US.

The Washington Post

  • TikTok could be banned come January, but what are the other fascinating creator-economy stories?
  • BI's media team rounded up the most intriguing stories for the year ahead.
  • Our picks ranged from a battle between Spotify and YouTube to what will happen in "IRL social."

There are many fascinating stories popping up in the creator economy every day. So, which ones have really caught the eye of Business Insider's team of reporters and editors?

We're all closely tracking whether TikTok will be banned in the US in January. But that's not the only story that could shake up the industry.

As we head into 2025, BI's media team rounded up the creator-economy storylines we are most excited to dig into next year.

Dan's storyline to watch: Influencers look to become QVC-style live shopping hosts
Outlandish's new store blends TikTok Shop with brick-and-mortar retail.
Outlandish is an official TikTok Shop agency partner.

Outlandish.

Live shopping has really begun to catch on in the US. Next year, I'm watching to see if top influencers embrace live selling and become QVC-style hosts โ€” or if its momentum fades.

US creators have always hawked goods on behalf of brands, but live selling hasn't been a popular approach. It makes sense, as it's much easier for a creator to make a quick sponsored post than to film a 2-hour live sellathon.

TikTok Shop sought to popularize live selling in the US by working with outside partners to train live-selling creators and aggressively promoting the practice. I expect that will continue next year (if TikTok isn't banned), alongside efforts to drive up livestreams among e-commerce competitors like Amazon, Whatnot, and TalkShopLive.

But will creators whose content has nothing to do with e-commerce choose to try out live selling in 2025? Will live shopping replace static brand deals as the predominant way US creators make money, as it has in other regions like Asia? We'll be watching.

-Dan Whateley, senior reporter

Amanda's storyline to watch: Spotify and YouTube battle over video podcasting
Joe Rogan
Joe Rogan dominates the podcast landscape.

Syfy/Getty Images

Creators are launching their own talk shows in the form of video podcasts.

As this growing trend of serialized long-form content takes over screen times, two tech giants โ€” Spotify and YouTube โ€” will continue to compete to be the best platform.

YouTube is already a strong leader in the creator economy and a go-to creator platform. Spotify has also had a good year, reporting increased profitability in its Q3 earnings.

As video podcasts rise in popularity, these two platforms will have to convince both creators and viewers why they're the best place to earn money, engage with fans, and reach new audiences.

The race has already begun. YouTube took a stand by releasing a suite of tools and features that creators can't get on other podcast platforms โ€” including the ability to go live, respond to comments, and earn revenue from donations.

Meanwhile, Spotify invested heavily in video in 2024, developing its own tools and more ways to pay creators for video podcasts through subscription earnings and ad revenue.

So, how will these platforms compete in 2025, and who will ultimately win in the video podcast race?

-Amanda Perelli, senior reporter

Sydney's storyline to watch: The future of IRL social apps
222 team members, including cofounders, work at row of desks in NYC
222's team, pictured, is part of a trend of IRL social startups.

Sydney Bradley

Social-media platforms are great for entertainment ... but for making new friends and maintaining IRL relationships? Less so.

However, a wave of startups that have either launched or expanded in 2024 plans to fill that gap. From in-person dinners offered by apps (like 222 or Timeleft) to event platforms (like Partiful or Posh), some startup founders are finding product-market-fit amid a loneliness epidemic. The trend extends beyond mobile apps, too, with in-person clubs or groups growing in popularity, like reading groups or running clubs.

While some of these startups are already raising capital and dabbling with monetization, will these solutions to loneliness stick around in 2024? And if they do stick, who will be category winners and what will success be defined by?

-Sydney Bradley, senior reporter

Nathan's storyline to watch: Creators on TV
Scott Galloway Kara Swisher
Scott Galloway, pictured, cohosts multiple podcasts with video components.

Andrew Harnik/Getty Images

The walls between the TV and the creator worlds are being torn down brick by brick, particularly by YouTube.

In November, as it has been for a while, YouTube was the top streaming service on TVs in the US, coming in at 10.8% of viewing compared to Netflix's 7.7%, per Nielsen.

With the lines blurring, will we see more streamers and even traditional TV networks look to creator-style content, as ESPN has done with Pat McAfee?

Creator TV shows have had a muddled history, but I'd argue that their struggles often came from networks trying to parachute an influencer into a traditional "TV" format. What about meeting them halfway?

On that point, it's been interesting to see the convergence of podcasts and video. YouTube (hello again) is the top podcasting platform in the US, ahead of Spotify (which is also looking to beef up video) and Apple Podcasts.

What's stopping the likes of Netflix, or even CNN, from licensing podcasts as long as they get the video quality up to snuff? CNN+ wanted to give Scott Galloway a show once upon a time. Maybe they should just put one of his hit podcasts on the air. The cable TV business is in freefall. It's time to get creative.

-Nathan McAlone, deputy editor

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Behind the Curtain โ€” Our holiday gift: Hope

The media, our social media feeds and our most pessimistic friends fill us with doom and gloom stories.ย But by many measures, there's never been a better time to be alive in America.ย 

Why it matters: Yes, bad people are always doing bad things for bad reasons. It's called life. This column focuses on the Good Stuff: the undeniable trends that reveal a distinct edge for America, young people and this moment.


When your boozy uncle goes dark today, remind him and others:

  1. There's no better place to start a business and rise to unthinkable heights doing what you choose to do. We have the best hospitals, colleges and technology centers.
  2. You can think, say and worship as you please without fear of imprisonment.ย Faith might be fading, but the ability to practice it is unfettered.
  3. The United States has the world's strongest military. We enjoy peace with our neighbors and the protection of the Atlantic and Pacific oceans.ย Our military is both the most feared โ€” and most sought-after by other nations for assistance.
  4. We're blessed with abundant natural resources โ€” we can produce enough energy from the ground and skies to power ourselves for generations.ย In just eight years, the U.S. "has rocketed from barely selling any gas overseas to becoming the world's No. 1 supplier" โ€” bolstering the economy and strengthening American influence abroad. (N.Y. Times)
  5. We're still the place where people want to risk their lives to come live, work and raise a family.
  6. The greatest inventions come from magical animal spirits of American capitalism, freedom and entrepreneurial zest โ€” hardwired into our souls and our national story.ย We enjoy a massive early lead to build the next great technology: generative artificial intelligence.
  7. The United States is the world's longest-surviving democracy, which has remained steadfast, resilient and enduring through existential crises.
  8. Young people are more optimistic than ever, earning more than ever, and able to make an instant difference in the workplace because of their tech savvy.
  9. And Jim's favorite: Most people are normal. They don't watch cable food fights, or dunk on people on X, or say or do nasty things to others. They work hard, volunteer, help you shovel in a storm.

The bottom line: We're blessed, this and every holiday season, to have smart, engaged, thoughtful readers who trust us โ€” and remind us when we fall short.ย Enjoy your family. Enjoy the holidays. Enjoy America.

Ex-Abercrombie & Fitch CEO likely has dementia, his lawyers say, amid sex trafficking lawsuit

Former Abercrombie & Fitch CEO Mike Jeffries leaves a Long Island court with members of his legal team after pleading not guilty to sex-trafficking charges allegedly involving young male models on October 25, 2024 in Central Islip, New York. Jeffries, who is 80, was released on a $10 million bond and answered to 16 counts against him
Mike Jeffries' lawyers say he likely has dementia.

Spencer Platt/Getty Images

  • Mike Jeffries, the former CEO of Abercrombie & Fitch, likely has dementia, his lawyers say.
  • Jeffries stands accused in an international sex-trafficking case.
  • The illness means Jeffries won't be able to contribute to his own defense, his lawyers say.

Ex-Abercrombie & Fitch CEO Mike Jeffries likely has dementia and possible Alzheimer's disease, casting doubt on his ability to stand trial in a sex-trafficking case, his lawyers have said.

According to court papers filed Monday and seen by Business Insider, a neuropsychologist has assessed that "the combination of Mr. Jeffries' cognitive impairments" means that he would be unable to contribute to his own defense.

Jeffries, 80, along with his partner Matthew Smith and a third man, were arrested in October on federal sex-trafficking charges.

Earlier this month, lawyers for Jeffries filed a motion to determine his competency to stand trial.

The neuropsychologist found "a significant neurological deficit" after examining him in October last year and said her "initial diagnostic impressions" were consistent with dementia, the latest filing states.

Follow-up tests this year gave further "diagnostic impressions" of dementia and "probable" late-onset Alzheimer's, it says.

A diagnostic impression is a preliminary assessment of a patient rather than a final diagnosis.

"The Michael Jeffries who presented himself did not even come close to resembling a Master's degree-educated individual," the filing said.

The issues include "impaired memory, diminished attention, processing speed slowness, and ease of confusion," it continued.

The doctor has deemed his disease to be "irreversible" and said it will worsen over time, the filing said.

A so-called competency hearing has been scheduled for June next year, the BBC reported.

Jeffries, who left Abercrombie & Fitch in 2014, has pleaded not guilty to the sex trafficking charges, as have Smith and the third accused man.

Prosecutors say that they ran an international sex trafficking and prostitution business, coercing vulnerable men connected to the company into taking part in "sex events."

Between about 2008 to 2015, the accused men used the "so-called casting couch system" in their scheme, Breon Peace, the US attorney for the Eastern District of New York, alleged in a news conference announcing the charges in October.

The indictment states that the men used Jeffries' power and wealth "to run a business that was dedicated to fulfilling their sexual desires and ensuring that their international sex trafficking and prostitution business was kept secret, thereby maintaining Jeffries' powerful reputation."

His arrest came after a high-profile BBC investigation cited a number of men who said they were exploited or abused as part of the events Jeffries is accused of.

Jeffries was hired as CEO in 1990, ushering in a period in which the brand relied heavily on sex appeal to sell its preppy outfits. Huge popularity came alongside a 2003 class-action lawsuit that alleged racialized and looks-based discrimination against staff and prospective employees, which was settled in 2004 without admission of wrongdoing.

Read the original article on Business Insider

Bank CEO brings back employee 2-week 'recharge period' at the end of December

BNY CEO Robin Vince
Robin Vince says BNY Mellon employees will circle back to bureaucracy in 2025.

Saul Loeb/AFP via Getty Images

  • BNY CEO Robin Vince said the bank is currently in aย "recharge period" until 2025.
  • Employees at the finance giant are encouraged to focus onย "core business activities."ย 
  • The move is part of a larger push by the bank to provide mental health support to its workers.

The CEO of Bank of New York Mellon Corp. says it's OK to be more laid back at work during the last weeks of the year.

Robin Vince, who also serves as president of BNY, announced Monday that the bank is bringing back its end-of-year "recharge" period for its employees.

Beginning December 23, a spokesperson told Business Insider that BNY employees are encouraged to narrow their focus to client andย core business activities, postponing more routine items until the New Year.

Non-essential activities, like internal meetings, work that isn't time-sensitive, and in-office requirements, will be paused until January 3, they told BI.

In a LinkedIn post, Vance said he's "missing the free Starbucks at our global HQ, but it's worth it to be able to spend more time with my family, all home together, while taking a break from the more routine work to really focus on what matters for clients and driving our company forward these next two weeks."

Vince told Fortune in June that BNY asks employees to be in the office "more days than you're not." BNY first introduced its two-week recharge in December 2023 to allow employees more time to focus on family than non-urgent work tasks.

It's part of a larger push by the bank to improve compensation and benefits for its employees. BNY announced Thursday that it'd increase the minimum hourly wage for US employees from $22.50 to $25, starting March 2025.

This year the company also partnered with Spring Health to bring more mental health services to employees and their families.

"We want talent to feel appropriately compensated and enjoy an industry-leading employee experience โ€” and benefits are a part of that strategy," said Shannon Hobbs, chief people officer at BNY.

Read the original article on Business Insider

Lyft has sued San Francisco, accusing it of overcharging $100 million in taxes

The Lyft logo on a phone screen and behind the phone.
Lyft has sued San Francisco city, accusing it of unfairly calculating its income taxes.

Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

  • Lyft sued San Francisco, saying it was unfairly charged $100 million in taxes from 2019 to 2023.
  • Lyft argues the city's tax formula unfairly includes passenger payments as revenue.
  • The lawsuit highlights global gig-economy debates over worker classification.

Lyft has accused the city of San Francisco in a lawsuit of overcharging it $100 million in taxes over five years, arguing that the city used a calculation that doesn't reflect the ride-hailing firm's business model.

The lawsuit, filed at the California Superior Court in San Francisco, says the city calculated Lyft's 2019 to 2023 taxes based on the total amount passengers paid for rides. But Lyft says it makes money from what drivers pay to Lyft, not what passengers pay to the drivers. Drivers make at least 70% of what the passenger pays, according to Lyft's website.

Lyft considers drivers as customers who use its service and not employees, the company said in the state court complaint. The city's formula is "distortive and will grossly overstate Lyft's gross receipts attributable to Lyft's business activities in the city," the filing says.

The filing says the US Securities and Exchange Commission doesn't consider driver's fees as part of Lyft's revenue. Driver fees are also not recognized as income for income-tax purposes on a state or federal level. Lyft is seeking a refund for the amount it overpaid.

Lyft and the San Francisco City Attorney's representatives didn't immediately respond to requests for comment.

"Lyft doesn't take operating in San Francisco for granted and we love serving both riders and drivers in our hometown city," the company said in a statement to Bloomberg on Wednesday. "But, we believe the city is incorrect with how it calculated our gross receipts tax for the years 2019-2023."

The complaint is another example of ride-hailing andย quick-delivery platformsย such as Lyft, Uber, and DoorDash making it clear that drivers on their US platforms are gig workers, not employees. Having drivers on a payroll would mean paying employment benefits such as vacation and overtime pay, minimum-wage protection, and health insurance.

Last year, gig-economy companies scored a big win after a California appeals court upheld a law that classified gig workers as independent contractors, not employees. But that argument hasn't always worked out for these companies in other markets: In 2021, the UK ruled that Uber drivers must be treated as company employees and not independent workers after a five-year legal battle.

Read the original article on Business Insider

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