Andrew Morse, a veteran of Bloomberg and CNN who most recently ran The Atlanta Journal-Constitution, is taking on one of the startup world’s hardest challenges: building the next big video platform.
His company, Phareo, is named after the ancient lighthouse of Alexandria. It aims to appeal to creators frustrated that platform algorithms control who sees their work, and to viewers who feel poorly served by giants like YouTube and TikTok.
Phareo to Launch in January With 25 Creators and an AI Discovery Engine
Morse says Phareo will use an AI-powered discovery engine and give creators incentives such as revenue share and options to make exclusive content. It plans to launch in January with 25 creators as a free, ad-supported app, with a paid tier possible later.
Morse admits the “chicken and egg” problem is the biggest hurdle, since viewers need exclusive content and creators need an audience. He argues consumers are on the big platforms because they have to be, not because they are satisfied. His plan is to build a passionate core with creators and grow from there.
He also worries about the creator economy, saying businesses built on social platforms in the 2010s were devastated when algorithms changed. More people going solo, he warns, could leave them exposed.
Read the original article on Business Insider
