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    The Impact Of Trends and AI On Businesses l Morning Brew Daily

    enJuly 06, 2024

    Podcast Summary

    • Alcohol consumption trendGen Z and younger generations show a decrease in alcohol consumption, but the market remains large and staying curious about trends and identifying potential breakout figures can lead to success

      The trend shows a significant decrease in alcohol consumption among Gen Z and younger generations, but there's still a large market for alcohol and the best players will thrive. In the attention economy, staying curious about macro trends and identifying potential breakout figures or topics can lead to success. For example, NLE Choppa, a rapper with a large following among younger generations, could be on the verge of becoming a major player in the music industry. Attention is the currency, and staying aware of trends and potential breakout figures can lead to success.

    • Social media marketing shiftThe focus in social media marketing has moved from building a large following to creating high-quality, engaging content that reaches the right audience.

      The rules of social media marketing have shifted from building a massive following to creating high-quality, engaging content that finds its audience. Gary Vaynerchuk, a renowned marketing expert, discussed this change in his new book "Day Trading Attention," which is a follow-up to his earlier work "Jab, Jab, Jab, Right Hook." He emphasized that platforms like Facebook, Instagram, Twitter, YouTube, and even TikTok still matter, but the focus is no longer on amassing followers. Instead, it's about creating content that resonates and reaching the right audience. This shift presents an opportunity for newcomers to enter the social media space and potentially succeed, as the playing field has been leveled. Additionally, Gary mentioned that text message groups and WhatsApp are currently filling the gap left by traditional social media companies, and he expects the pendulum to swing back towards new social media platforms in the future.

    • Attention economy shiftThe departure of TikTok could lead to a significant shift in the attention economy, benefiting major players like Meta, Instagram, and YouTube, while also providing opportunities for new startups and revivals of platforms like Vine. The rise of AI influencers may disrupt the traditional influencer scene, impacting authenticity and human connection.

      The impending departure of TikTok from the social media landscape will lead to a significant shift in the attention economy, with major players like Meta, Instagram, and YouTube poised to benefit. The sudden reset of attention could also provide opportunities for new startups and even revivals of platforms like Vine. Additionally, the rise of AI influencers is expected to disrupt the traditional social media influencer scene, with potential implications for authenticity and human connection. These developments will undoubtedly bring about changes in the way we consume and engage with digital content.

    • Impact of New Technologies on InfluencersHonest opinions from influencers can significantly impact the market acceptance of new technologies, and it's crucial for them to maintain authenticity and not let power or ego sway their feelings.

      New technologies and innovations, despite initial skepticism and fear, are a natural part of evolution. As seen throughout history, from electricity to social media, people have often been hesitant to embrace the new. However, if individuals like reviewers express their honest opinions, it can significantly impact the market. It's essential to maintain authenticity and not let power or ego sway from true feelings. Influencers, particularly in the beauty industry, should remember their responsibility and stay true to their audience. Overall, change is inevitable, and embracing it with honesty and authenticity is crucial.

    • Alcohol Industry TrendsStaying authentic and adapting to trends are crucial for success in the alcohol industry, where competition is intensifying and consumer preferences are constantly evolving.

      The alcohol industry, like personal preferences for wines or other consumer goods, experiences trends and changes, but there's still a significant market for new and established brands. However, the competition is intensifying, and only the best players will thrive. Additionally, authenticity and strong opinions are valued in media, even if they're not always held sincerely. The concept of "cringe" has become a weaponized term, often used as banter, but it's important to approach it with compassion and consider the motivations behind its use. Ultimately, staying true to one's principles and adapting to the ever-evolving world is essential for continued success and relevance.

    • Mental health and criticismMental health matters and learning to view criticism as banter can help us stay focused on our goals, while detachment is essential to not letting negative comments affect us.

      Our mental health and the way we perceive criticism are crucial. Gary Vaynerchuk shared his experiences with online negativity and how he views it as a form of banter and a part of human nature. He also emphasized the importance of detachment and not letting negative comments affect us. In the world of sports, Gary discussed the emergence of new leagues and the potential for investment opportunities. He believes that communication shifts are underway and that virtual reality technology is the future, even if it's not quite ready yet. Overall, Gary's message was about embracing challenges, staying focused on our goals, and adapting to change.

    • Impact of Technology on ChildrenParents play a crucial role in ensuring their children's well-being in the digital age by setting boundaries and providing guidance despite the constant access to technology and concerns over negative effects, which may not be solely due to the medium itself.

      Technology, particularly virtual reality, is expected to bring significant changes in the next few decades, possibly revolutionizing industries like sports and media. However, the impact of social media on children is a concern. While it may seem more intense due to constant access, the root cause of negative effects on kids is not necessarily the medium itself, but the content and lack of parental guidance. The speaker emphasizes that parents have a crucial role in ensuring their children's well-being, and they should not shy away from setting boundaries and making decisions for their kids when necessary.

    • Digital Age ParentingFind balance in digital age parenting by setting boundaries, being consistent, and engaging with children while allowing them to learn and grow

      Parents need to find a balance in raising children in today's digital age. The speaker shares his perspective of growing up with physical discipline, then moving on to an era without it, and now dealing with kids who face no consequences for their actions due to entitlement and delusion. He emphasizes the importance of setting boundaries and being consistent as a parent, using the example of managing children's social media use. The speaker encourages parents to find the middle ground, avoid extremes, and maintain a strong presence in their children's lives. Overall, the message is to engage with children, set expectations, and provide guidance while allowing them to learn and grow.

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