1 - 2 - 3) My first economic trend and two regulatory trends go hand-in-hand, so I'll just mention them together in one big entry. The first regulatory trend has to do with Obama wanting to tax carbon in order to combat climate change of which he spoke about during the Climate Summit last December, the economic trend has to do with oil prices dropping, and the second regulatory trend is companies getting tax incentives for going green in an attempt to regulate waste. With these trends in mind, I believe there is great opportunity for many things to arise, primarily, cleaner/greener sources of fuel and energy that would eliminate our reliance on fossil fuels (i.e. wind, solar, nuclear, etc.). If businesses will lose money for emitting carbon, keep my money by going green, and oil is already in a state of little to no profit, this makes me think an opportunity exists for, obviously, green sources of energy to rise up. This may sound like a bit of a stretch and perhaps a bit dramatic, but I think the resulting prototypical customer would be the human race in the sense that relying on energy that doesn't slowly cook the planet will benefit us and generations to come. This will be very hard to exploit though, since so much of the global economy is wrapped up in oil. I think it's possible, but it won't happen overnight. I'm a science nerd not an economist though, so I really have no idea how the process of change works on a global/macro economic scale. I saw this opportunity because, like many people, I care about the condition we leave our planet it for future generations.
4) Another economic trend I have noticed is how popular virtual reality is becoming. Companies like Google and Samsung are pouring lots of money into it, and it's just now starting to become mainstream. People are very interested in virtual reality and the sales indicate that. I have a VR headset myself. Right now, most of the market associated with virtual reality is video games and adult content. But I think there is an opportunity here for almost any company or business to incorporate VR into their business, and have other markets grow. Just off the top of my head, ummm.... okay, how about a dance club. Imagine going to a club to dance with a friend, but instead of dancing on the dance floor, you're dancing on the moon. Or wherever, doesn't matter. Point is, I think there is a lot of appeal in changing the environment of where you're doing something fun. I think an opportunity exists here since VR is gaining so much popularity. A prototypical customer is basically anyone that wants to have fun in a place other than where they are currently. As long as a company has the funds and innovation to incorporate VR into their business to make it more interesting, I don't think it would be that hard to do. The technology is already here, and it's steadily improving. I saw this opportunity because I was so impressed with VR that I just thought it would be cool if it were incorporated into other aspects of life. Like, what if a vehicle at VR incorporated into the backseat windows. That way while driving, your kids or guests or whoever can look out the window and see something different, like...I don't know, dinosaurs walking around or something. I really think VR will take off and the possibilities will be endless.
Kyle,
ReplyDeleteThis is very well researched. I specifically like the first paragraph as it stayed on the trend of climate change and going green. I think it's interesting how Obama is wanting to tax carbon and the fact that companies are getting tax incentives for going green. As for the second paragraph, I think virtual reality is very intriguing and for that reason I believe it will become mainstream in the next few years
I really enjoyed reading about your thoughts on opportunities, especially with the entry about virtual reality. I've been closely watching the progress of virtual reality in its current form since I first heard about the Oculus Rift a few years ago. I haven't had the chance to buy one yet, but I know that I almost certainly will in the future, seeing as there's really nowhere for the technology behind virtual reality to go but forward. However, I've tested out both the Oculus Rift and HTC Vive and they both met my expectations for what virtual reality would be, which were pretty high to begin with. I'm excited to see where the future of virtual reality is headed, and I'm happy to see that others are feeling the same way that I am.
ReplyDeleteI really enjoyed reading about your thoughts on opportunities, especially with the entry about virtual reality. I've been closely watching the progress of virtual reality in its current form since I first heard about the Oculus Rift a few years ago. I haven't had the chance to buy one yet, but I know that I almost certainly will in the future, seeing as there's really nowhere for the technology behind virtual reality to go but forward. However, I've tested out both the Oculus Rift and HTC Vive and they both met my expectations for what virtual reality would be, which were pretty high to begin with. I'm excited to see where the future of virtual reality is headed, and I'm happy to see that others are feeling the same way that I am.
ReplyDeleteThe virtual reality opportunities seem endless. I personally don't know much about virtual reality, but I can see the potential and I definitely would be willing to participate as a consumer of VR products. There are opportunities for VR in school settings too which can make learning more interesting and engaging for the average student. I really like the idea of VR becoming more trendy and I'm excited to see where it develops in the upcoming years.
ReplyDeleteI also wrote about oil prices, as did other people who commented on my post. This definitely seems like an opportunity that many people want to take advantage of. Mthenvirtual reality angle is also really interesting, and also scary at the same time. Will people forget to live their own lives and just settle for this fake reality? I do not know much about virtual reality so it could be an empty worry. I really enjoyed reading about your opportunities they are definitely something entrepreneurs should look in to.
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