Kennedy is among the many social media influencers who have launched business models that are not dependent on the platforms—Instagram, TikTok—that fueled their rise. Influencers can fall into the trap of essentially being “Uber drivers for Instagram or TikTok,” says Sean Branagan, director of the Center for Digital Media Entrepreneurship at Syracuse University. “You’re waiting for the assignment and the money; you’re not in control of where your business is going.” Kennedy has monetized her social media following by creating an affinity group—rather than seeking mass appeal—and she “cares for, stimulates, and advances” her audience with her paid offerings, Branagan says. “What she has is a magic potion, and it’s about more than her face and name.”
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Most unexpected was Paramount stock’s jump. Wall Street almost always disdains giant acquisitions on the theory that buyers get too excited about big deals and overpay—and indeed, that’s usually what happens. When the deal gets sealed, the buyer’s stock usually drops, but in this case it rose almost 30%. That’s probably because analysts were pleasantly surprised: They had figured Paramount would need to raise its offer from $30 to $32–$34 a share to vanquish Netflix; instead, Paramount offered just $31 and prevailed.