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A new survey found that 57% of Gen Zers said they would quit their day job to become an influencer if given the chance, which a brand expert translated to mean that more than half of the coming-of-age respondents “believe people can easily make a career in influencing.”

Decision intelligence company Morning Consult released its September 2023 brand report, which, after surveying over 2,200 US adults and Gen Zers aged 13 to 26 who are active on social media, concluded that “consumer behaviors and attitudes may be constantly evolving, but the allure of influencers and the draw of becoming one! remains notable.”

Nearly 60% of respondents in Generation Z — who were born between 1997 and 2012 — said they would take the job of social media influencer over their current gig, while 41% of adults would opt for the role, which sees people earning money to post photos and videos endorsing a product or service.

Of those Gen Zers, 53% believe being an influencer is a reputable career choice, and three in 10 teens and young adults even said they would pay to become an influencer.

For Gen Zers who would become influencers, 22% said they would post about gaming, while 10% fantasize about endorsing beauty and skincare products.

Young people said they’d be least interested in being an influencer with a niche in drinking, home design, politics or social causes, the Morning Consult survey found.

Most adults, meanwhile, don’t know what they would post about, followed by 13% that said they would create food content and 8% who would share posts on music.

Ellyn Briggs, a brands analyst at Morning Consult, told CNBC that TikTok makes influencing seem like a more plausible career than ever thanks to its “no-frills, direct-to-cam and low-editing content.”

TikTok has “broadened the amount of people who feel influencing is accessible to them,” Briggs added, who said the survey results show Gen Zers “believe people can easily make a career in influencing.”

Briggs attributed young people’s desire to influence to the ability to make money, work flexible hours and do fun tasks.

And as an interest in becoming an influencer has grown, so has social media users’ trust in the online endorsers.

A staggering 61% of Gen Z and millennial survey respondents said they trust social media influencers — an increase from the 51% that trusted these highly-followed users in 2019.

Gen Zers don’t appear deterred by the “not insignificant amount of content creator controversies” that have gone viral or gotten users cancelled in recent years, Briggs said.

Among the most prominent influencers to fall victim to cancel culture include James Charles, Jeffree Star and Jenna Marbles.

Charles, and ultra-popular beauty YouTuber, was temporarily blocked from monetizing his content on the video-sharing site back in 2021 after it was alleged that he, then 21, used his status on the site to bait and groom minors, including two 16-year-old boys who say they engaged in direct message conversations.

Star — who started his social media career out on MySpace before launching a YouTube channel in 2006 to post makeup tutorials — was cancelled in 2020whenInsiderinvestigated claims that Star drugged men.

And Jenna Marbles, formally known as Jenna Mourey, peaked at over 20 million YouTube subscribers before yanking her channel from the platform following allegations of blackface in 2020.

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Politics

Bank of France wants EU crypto regulation under Paris-based ESMA

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Bank of France wants EU crypto regulation under Paris-based ESMA

Bank of France wants EU crypto regulation under Paris-based ESMA

The Bank of France’s governor called for crypto oversight to be given to the European Securities and Markets Authority, and for tightening MiCA’s rules on stablecoin issuance.

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Technology

‘Focus on value creation; the stock market will settle itself,’ says Snowflake CEO amid bubble fears

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‘Focus on value creation; the stock market will settle itself,’ says Snowflake CEO amid bubble fears

The CEO of AI data firm Snowflake isn’t letting the stock market distract him from ambitions to become “one of the great technology companies in this world,” he told CNBC.

The company — a cloud data storage platform — made history when it became the largest-ever software IPO when it went public five years ago, and its share price is currently rallying amid an AI boom.

However, as investors flock to AI-related companies, fears of a bubble have emerged, leaving the market keen to distinguish between hype and reality in a bid to avoid being burned in the event of a pull-back.   

“You don’t control the stock price,” Sridhar Ramaswamy told “Squawk Box Europe” on Thursday. Shares of Snowflake rose 6.5% on Wednesday and are up over 60% year-to-date.

Snowflake CEO downplays concerns of an AI bubble: 'The stock market will settle itself'

“My focus very much is on value creation. We have to earn dollars, every single dollar at a time, so we are focused on the quarter, focused on the year, but, much more, also on the value that we create with customers, or the long term, the stock market will settle itself,” he added.   

His comments came after Snowflake investor Michael Speiser last week sold shares to net over $11 million, while senior VP Vivek Raghu Nathan made around $2.6 million in a share sale at the end of last month.

Ramaswamy declined to comment on individuals’ sales but added: “I am not selling any stock, I’m very much in favor of the long-term value that Snowflake is going to be creating, and the sales tend to be very, very modest.”  

Toeing the line of incremental adoption  

Markets are probably in a bubble and that's okay, says Vista Equity's Ashley MacNeill

But AI might not necessarily play out in the same way as the dot-com bubble, according to Vista Equity’s Ashley MacNeill, especially if investors keep a cool head, While bullish, she told CNBC’s “Closing Bell” that it’s important to have a “measured” approach.

“Is this a bubble that’s going to burst like it did in 1999? Or is this more like a balloon where we’re going to see it inflate and deflate as we go through the cycles?” MacNeill said. 

“Given the longevity of this technology and given the fact this is waves that’s going to adopt this technology, I’m more inclined to think that we aren’t bursting, but rather we’re going to inflate and deflate as this technology ebbs and flows,” she added.  

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Politics

New Japan PM may boost crypto economy, ‘refine’ blockchain regulations

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New Japan PM may boost crypto economy, ‘refine’ blockchain regulations

New Japan PM may boost crypto economy, ‘refine’ blockchain regulations

Takaichi’s election may have a “material impact” on the governance and regulatory perception of crypto assets in Japan, experts told Cointelegraph.

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