- In this new book “The Passion Economy,” podcast Planet Money host Adam Davidson explains the shifting terrain of the business world.
- Thanks to automation and new technology, entrepreneurs need to employ a specific strategy if they want to succeed in a marketplace dominated by titanic corporations.
- The passion economy rests on two pillars: create intimacy at scale and don’t be a commodity. Davidson’s book offers nearly a dozen real-world examples of his theory.
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According to Planet Money cofounder Adam Davidson, American business is undergoing a fundamental shift toward what he calls the “passion economy.” This new landscape is the result of two diffuse factors acting in concert: automation eliminating jobs and technology creating new opportunities.
The result: a rising class of entrepreneurs who thrive by solving the hyper-specific needs of a niche, often disparate customer base. To Davidson, this new system is the