6A Identifying Opportunities in Economic & Regulatory Trends
Economic Trends:
Marijuana
a. https://mjbizdaily.com/exclusive-u-s-marijuana-industrys-economic-impact-hit-44b-2020/
b. The information provided in this article shows the potential market value and the numbers are mind blowingly high.
c. Prototypical customers will be anyone in the states in which marijuana is now legal, or will be in the upcoming years. Including elderly with medical issues and young adults who wish to use it recreationally.
d. The opportunity is going to be fairly easy to exploit at first as it is a pretty new market. Competition will not be high enough to deter new businesses in the market place.
e. I have multiple friends who smoke marijuana and many friends who oppose it at every turn. However after the recent vote of attempting to legalize marijuana, a lot more people have come out stating their support in the passing. Seeing this large change happen in others attitudes, as well as seeing the potential growth rate, the opportunity seemed to leap at me.
Augmented Reality
a. https://www.statista.com/statistics/615968/global-virtual-and-augmented-reality-economic-impact/
b. The statistics shown in this article show that there are 3 different possible trends for augmented reality to follow, and every single one is positive.
c. Prototypical customers include mostly the younger generations most interested in technology and new advancements. Mainly in the gaming community, but there are other uses for it also.
d. This opportunity would be fairly difficult to exploit as there are so many major gaming companies that have a head start.
e. Games have captivated the youth of the world for as long as humans have been on it, and I was no exception. As a kid I played with a gameboy, Nintendo DS, Ps3, and Xbox. Now, even as an adult I have an Xbox One that I use often. Many of the games I have been largely interested in have been Augmented Reality games. It's a technological change that will change the gaming community and everyone is excited about it. The fact that I love playing games has helped open my eyes to such an opportunity.
Regulatory Trends:
Washington Is Trying to Regulate Bitcoina. http://fortune.com/2017/12/14/new-bitcoin-restrictions/b. Bitcoin has recently become a very very large market. The value has sky rocketed in the last year and everyone is freaking out over it. With Washington trying to regulate cryptocurrency, a market for policing the uses of bitcoin will come about.c. The prototypical customer would be the government. d. This opportunity would be difficult to exploit because you would need a large group of technologically proficient people able to track and monitor transactions with bitcoins.e. Someone I know became fairly wealthy off of his stock in bitcoin this year and has been posting on snapchat about it a lot. That got me thinking as to what regulations there would be placed on it. Everything needs security, even bitcoins!
Marijuana
a. https://mjbizdaily.com/exclusive-u-s-marijuana-industrys-economic-impact-hit-44b-2020/
b. The information provided in this article shows the potential market value and the numbers are mind blowingly high.
c. Prototypical customers will be anyone in the states in which marijuana is now legal, or will be in the upcoming years. Including elderly with medical issues and young adults who wish to use it recreationally.
d. The opportunity is going to be fairly easy to exploit at first as it is a pretty new market. Competition will not be high enough to deter new businesses in the market place.
e. I have multiple friends who smoke marijuana and many friends who oppose it at every turn. However after the recent vote of attempting to legalize marijuana, a lot more people have come out stating their support in the passing. Seeing this large change happen in others attitudes, as well as seeing the potential growth rate, the opportunity seemed to leap at me.
Augmented Reality
a. https://www.statista.com/statistics/615968/global-virtual-and-augmented-reality-economic-impact/
b. The statistics shown in this article show that there are 3 different possible trends for augmented reality to follow, and every single one is positive.
c. Prototypical customers include mostly the younger generations most interested in technology and new advancements. Mainly in the gaming community, but there are other uses for it also.
d. This opportunity would be fairly difficult to exploit as there are so many major gaming companies that have a head start.
e. Games have captivated the youth of the world for as long as humans have been on it, and I was no exception. As a kid I played with a gameboy, Nintendo DS, Ps3, and Xbox. Now, even as an adult I have an Xbox One that I use often. Many of the games I have been largely interested in have been Augmented Reality games. It's a technological change that will change the gaming community and everyone is excited about it. The fact that I love playing games has helped open my eyes to such an opportunity.
Regulatory Trends:
New security requirements issued for credit card payments on mobile devices
b. As there are changes being made to the way we pay, there are always new opportunities. Vendors will have the opportunity to buy a cheaper piece of equipment than was previously needed, so that customers can pay just as conveniently but the vendor won't be spending so much money on the expensive equipment previously needed for the payments to be made.
c. The prototypical customer of this new electronic equipment will be mainly smaller businesses and start up companies.
d. This opportunity would be difficult to exploit as there are many measures of security when it comes to credit card payments.
e. I saw this online and was intrigued as I am constantly noticing that the world around me is doing more and more on their mobile device. I personally have been using my phone for everything from games to music to even banking. As the world moves on, so do we. And this is the next step in payment that will become a normal measure in the future.
Hey Stephan,
ReplyDeleteGreat job, I find all the opportunity interesting especially the one on augmented reality and Bitcoin. I do believe technology such as augmented reality are going to change not only how we play video games but also they way we shop online or even interact with our friends. I know huge tech companies such as Amazon and Microsoft are investing in augmented reality research because they believe it is the future.