Fyre Festival's Billy McFarland has a GREAT creator economy idea.

Billy McFarland, known for the Fyre Festival disaster, had a pretty cool idea for the creator economy.

Billy has been going on a press run of sorts lately, appearing on The Full Send Pod, My First Million, and more.

He's shared some interesting nuggets on prison life, behind-the-scenes of raising VC money for the festival, as well as his next venture(s).

More on that another time, let's talk about the idea...

Build a platform brands can sign up for, and allot a budget for a given creator campaign.

Upload all creative assets, talking points, etc. that a creator might need.

Creators - at their own will - then take these assets and post content on TikTok/IG/YouTube.

Creators are given a score based on followers, engagement, how well they followed the campaign guidelines, etc.

Based on that score, they are paid a certain percentage of the budget.

Here's the example Billy himself used:

Starbucks puts up $1M for a campaign on Fyre Campaign (not the real name, but I laughed writing this).

Me, you, and Kim Kardashian post content with the assets Starbucks gave.

Kim is awarded $900K, and you, me, and everyone else split the final $100K.

Pros of Billy's idea:

1. Helps brands only pay for performance

2. Takes hassle out of running campaigns

3. Turns brands' customers into marketers for them

4. No private island + flights to pay for

Cons of Billy's idea:

1. I can see people trying to game the system

2. Creator pay will decrease as competition increases. Not great for micro-creators.

3. I can't see a great Netflix doc being made out of this

What do you think? Should someone try this? I'd love to see it in action.

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Stay hungry,

Stewart The Koala