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Benifits and Costs-Elias Lara-Brito

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Name: Elias Lara-Brito                   Date: 11-14-15

Step 1:  Your Dilemma: Should I continue with my YouTube channel?

Step 2: Fill out your T-Chart

Costs

Benefits

Less time for studying(Long-Term)

Make Money through ads(Long-Term)

Hateful or hurtful comments(Short-Term)

Get a taste of the real world (Long Term)

Less time for FLVS courses(Short-Term)

Be a role model to others(Short-Term/Long Term)

Recording equipment(Short-Term)

Chance to talk to other youtubers at or above your level(Short-Term)

Build a bigger fan base(Short-Term/Long-Term)

Work on people skills by doing collaborations with other youtubers(Long-Term)

Build partnerships with companies (Short-Term/Long Term)

Step 3:

  1. Explain how the concepts of scarcity, choice, and opportunity cost relate to your dilemma.
  • 1.Scarcity-The scarcity in my dilemma is the amount of time and money I have. The equipment costs up to $100+ and I only have a few bucks with me right now. I put down time because of all the time I will have to give up every day. First I will start off recording for a good 5-20 minutes, then I have to edit the whole video, work on a thumbnail, and then wait for the video to publish. Time will definitely be a limited resource to me.
  • 2.Choice-The choice in my dilemma would be, don’t do YouTube and become an A student in school and on FLVS since I would have all that extra time to study and work. My other option would be continuing YouTube and possibly grow with a big fan base and a few extra dollars in my pocket while maintaining decent grades.
  • 3.Oppurtunity Cost-My opportunity cost if I don’t decide to keep doing YouTube would be continuing with my YouTube channel and giving up my fan base along with all the possible partnerships and money that I could have gotten if I kept growing and uploading consistently. I can also lose my chance at making all my benefits a reality and getting some computer skills like editing and so on. Now If I decide to continue with my channel, then I would be giving up some of my study time and time to work on my courses.

  1. What are the possible short-term costs and benefits? What are the possible long-term costs and benefits? Explain your answers and make sure all are listed in your chart.
  • Short-Term Benefits  

1.I have no short term benefits that are only considered short-term on their own

  • Long-Term Benefits

1.Get a taste of the real World-What I mean by that is that by doing YouTube, you’re getting some experience on working, google takes like 50% of your profits from advertising so you can compare that to the government taxing anyone that’s employed. Google being the government and you being the one that pays that google(government) with that share they get every time someone watches your video. You’re not only getting a taste of that but you’re getting a taste of how people are. If you look at the people around you, not everyone is loved or like, there’s not one person that is hated by no one. Just like in the real world, not one youtuber is liked by everyone, every youtuber will get some amount of hate every now and then so by doing YouTube, you can learn to toughen up a bit and realize that this isn’t school where they have rules on hate.

2.Work on people skills by doing collaborations with other youtubers-At first you may be afraid or nervous to skype or call a random person that you’ve never met in real life just to do a collaboration with them. By doing YouTube collaborations, you will eventually get comfortable with doing them and with anyone even if they are years ahead of you, by that I mean that they might have a million more subs than you. So over time you will acquire some skills that can be used in your future job/career. Even if this employer or fellow employee is years ahead of you, you won’t be nervous to work with them and even your opinion. These collaborations over YouTube can even help you improve your skills on collaboration with other student on FLVs and these skills will stay with you for a long time.

3.Make money through ads-the reason this is a long term is because no matter how big you are on YouTube; you can always make money through ads, even if you have a little bit of subs you can always make money through ads no matt where you are in the YouTube community.

4.Build partnerships with companies-If I was to continue with my channel, then I would of course upload almost every day and by doing this I would eventually be able to partner with a company or YouTube itself. By doing this, they get more exposure and in return I myself get more exposure and money. So this will definitely be considered a long term benefit.

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