How social media is generating the next gen billionaires

The new oil of today is attention

John Rockefeller. Andrew Carnegie. Cornelius Vanderbilt. Mr. Beast. Kylie Jenner. Wait…what?

That’s right. At only 25 years old, Kylie Jenner is a 21st-century corporate titan. She’s minted. Social media royalty, a fashion and cosmetics mogul, and the world’s youngest self-made billionaire, according to Forbes, Jenner is just getting started.

Whereas yesterday’s titans monopolized oil, steel, and railroads, Jenner has tapped into an even more precious resource: attention.

In Get Rich in the New Economy, Alex Hormozi argues that attention is the new oil of today’s economy. He explains how social media giants developed their brands in the early stages, growing their influence and reach, building follower loyalty and trust so that, when they were ready to monetize their audience, the results were earth-shattering.

Pick your metaphor–oil gusher, gold strike, mineral lode–attention is a limited and scarce resource and everyone’s racing to stake their claim first. Two obstacles stand in the way of exploiting this resource. Actually, 4 billion and one.

You can overcome the 4 billion competitors by going viral. It just takes one piece of content that breaks through the noise to start the ball rolling.

Alex Hormozi confessed that the idea of making content and going viral seemed like a waste of time until he experienced a mindset shift. He realized that the time spent on content creation is the input, and the audience is the output. The audience is a compounding return on investment, and it scales exponentially as reach grows.

The other obstacle, time, is a little more complicated. Mr. Beast told Joe Rogan that he spent 5 years of his life obsessing about virality before he became successful. He and his buddies (fellow “crazy lunatic YouTubers”) spent tens of thousands of hours in daily masterminds studying every nuance of viral content.

The crazy lunatics’ hours of sunk costs paid off tremendous dividends; however, do you have tens of thousands of hours to research and analyze virality?

You might not have 10,000 hours, but you can buy time. You can invest in yourself as an early-stage company.

At Hook Point, we’ve put in the time (over 17 years of experience) and research to understand how, why, and what goes viral. We understand what it takes to grab, hold, and monetize the most valuable resource: attention.

Like the geologists and prospectors who study where the next oil deposit lies, our content analysts obsess over virality. We invest a tremendous amount of our company’s research in developing the research and insights because we know it’s the only way to consistently rise above the noise and grab attention at scale.

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