This is an opinionated piece on where I see the new markets heading. This is my optimistic viewpoint from my cynical outlook on the progress that we’re about to see in the world. Thanks for taking the time to read.
The New Industrial Revolution
Throughout history, we have seen a continually changing shift in industry, economy, and power. In the 1800’s we saw the birth of the cotton gin, a commercial railroad system, and a shift in the American economy.
The 1900s paved the way for a booming industry, the greatest century for art and music, the commercial airline, and (unfortunately) a lucrative banking and war economy.
However, there has never been a more powerful and impactful time to be alive in the world of business and commerce than right now. And as you’ll learn – I’m really fucking excited about it! The power is beginning to fall out of the hands of the powers that have stacked the chips thinking that they have monopolized the game.
The year was 1995 and my mother was in what felt like her millionth year of college. She was a single mother raising a son with what looks like poverty on paper. Between welfare, a part-time under the table job (that she used for our weekly dinner), and assistance from my aunt, I felt very little financial impact from what should have been a bad childhood.
My mother was dating my soon to be stepfather who showed up with a gift for her to help through the last semester of college – a brand new… state of the art… computer PC tower.
The same computer that she used to write President Bill Clinton a letter requesting her financial aid not be cut off during the last few months of her program due to a new political policy that passed the floor.
Yes, my mother received a letter back from The White House approving the continuation of her funds to a struggling single mother. An act that I am certain that my mother is forever grateful for.
But there it was… at the age of 9 sitting in my house was a desktop computer. When I heard the sound of the dial-up internet and saw the power to connect in real time to the world of information I was aware, even at such a young age, that the world was an entirely different place.
I could get:
- Guitar tabs
- Information on my favorite childhood show Dragon Ball Z
- Video game cheat codes
- And an unstoppable stream of information.
My parents, family, and a school system quickly withered away as the authority figure for the only information available to me.
The New Marketplace
By the early 2000’s I was actively searching and navigating eBay. My e-mail and nickname was ‘ebaytom.’ eBay was the new opportunity for a kid that didn’t want to get a job but wanted money. I started taking things from around the house and selling them online.
When I wanted something I sold something, bought something else to sell for more money, and then repeated that process. These were the earliest days of the Dotcom era.
The new industry birthed from the rise of the internet has been the fall of nearly every monopolized industry up to this point. The stubborn have fallen and the innovative were forced to adjust or lose. The music industry was the first to fall.
We are on the cusp of the incline of what I will call The New Marketplace. Change is in full circle and this is the best time to be alive. Don’t believe me? Think about your life up to this point and what you’ve seen.
Netflix killed Blockbuster, Uber killed the taxi industry, Amazon killed retail, Napster unethically switched to Spotify that killed the record industry, the iPod killed CD’s, cable television took a massive hit from YouTube, the hotel industry took a massive hit from AirBnb, and about 1,000 more examples that I could think of.
The Birth Of The Share Economy
The early American Industrial Revolution gave birth to one of the greatest times for prosperity and opportunity. My favorite idea that I heard from George Carlin was when he discussed cooperation and competition.
Human beings operate and create the greatest of opportunities when competition and cooperation are in perfect harmony. When they are out of balance you get chaos, disorder, and a negative result. In this instance, cooperation is not referring to obedience (as it has been redefined in our culture) but rather cooperation is the act of working together in harmony.
I would like to refine it by not just saying competition and cooperation, but rather competition and collaboration. (Graham Cochrane says there is no such thing as competition; he is right!)
We’ve been living in a time where competition has greatly outweighed cooperation. This gave birth to phrases like “its just business” when someone gets screwed out of a cutthroat deal. This is simply an unspoken word of an understanding between businessmen, and it is accepted.
This style of thinking may yield quick results, but it is damaging not only to your reputation but to society as a whole. Hence, the age of consequence that the US is navigating through currently. An idea that is unethical that should be shed right now.
Why have these new businesses been so successful? How have people like Steve Jobs, Mark Zuckerberg, and all of the CEOs of the major businesses I listed above change the world and their industries in such a profound way?
I believe that it comes from the perfect balance between competition and cooperation – contribution. These companies have broken the mold and contributed to society by breaking every rule and norm. We live in what I will refer to now as The Share Economy.
We now share information, our rooms for rent, our cars for transportation, and a direct line to consumers. These contributions have given birth to The New Marketplace.
The Future Looks Bright
The Millennials and generation after will give birth to the craziest world of innovation that the world will ever see. Unfortunately, the power of the old business model created the consequence of the new culture which imprisons roughly half these two generations.
The middle class will be divided up given The New Market’s shares and The New Market’s rules. Half of them will be innovative geniuses navigating the oceans of opportunity and the other half will remain subdued by reality tv and sharing the hundredth selfie they took and edited that day. There is a reason why the piece of furniture in your bedroom with a mirror on it is aptly named the “vanity.”
The New Market will kill the other markets that refuse to adjust. The 40 hour work week is a bullshit, outdated idea and is enemy to individual progress and productivity.
The college industry will adjust to the new market or fail to heed the warnings as the music industry did and will, therefore, suffer the same quick fate. The doors are open for education in real time from anyone all over the world.
I know people teaching others how to use a program, how to play guitar, how to build a website, and just about every single individual skill that you can think of all earning over six figures a year online. How? By empowering the consumer and contributing without barriers.
Once the millennials get a hold of the banking system they’ll turn that upside down, too! One can only hope. The extortion and debt sentences that the college institutions implement on Americans will be the most exciting adjustment in the industry to date!
Otherwise, the collegiate market will inevitably fail. Personally, I look forward to it! The average employee will be a part of bigger self-made businesses under in the New Marketplace under The New Rules.
The monotony of a 40 hour mandatory work week will die out, productivity will be high, and passions will ignite the flame that fuels The New Economy.
Do I sound like a crazy idealist? Probably. Am I right? I hope so.
From here on out I want you to join me on this adventurer of changing the world. The funny thing about changing the world is that you don’t have to change the world, you just have to change the world for one person. So how will you contribute?
Welcome to The New Industrial Revolution.
This is an excerpt from an upcoming book and course that I will be releasing in the near future. I truly appreciate you taking the time to read.