Episode 10 covers topics that we have not touched thus far, but that have made major disruptions worth talking about. This includes the blockchain craze, how the way we watch content has changed, and Black Friday.
The world’s leading cryptocurrency, Bitcoin, had prices reach over $11,000 last week with the help of companies like Coinbase. James suggests thinking about blockchain as a rare hybrid of a flakey technology story and a foundational technology story which speaks to the common debate around whether or not it can be taken seriously.
This year, 22 million people canceled their subscriptions to cable televisions and it was the worst summer for movie theatre attendance in the last 25 years. The new value equation for entertainment is figuring out what individuals care about and being able to filter out the rest. Traditional entertainment providers need to quickly innovate and change the once standard experience.
Grey November is what happened in retail this year when Black Friday and Cyber Monday were blurred into month long sales and deals. We have seen the market get increasingly tech savvy and that has pushed a change in consumer expectations and patience. The number of people in stores was significantly down this year and we saw a notably large increase in mobile spending. Retail is having to find ways to repurpose with exclusivity at the core in order to bring people back.