December 5, 2022
Predictions for 2023
This week on TBOA, Rochelle and I talk about what trends we think could affect authority-based businesses in 2023.
Talking Points
Planning around the amped-up fear of uncertainty: recession, inflation, monetary policy, cryptocurrency, war, and politics (just to name a few).
The power of building even more discreet and creative niches; and making money from them in new ways while serving people who energize and inspire you.
The birth of a major social media platform that optimizes information exchange within communities—with tighter controls on access.
Soloists will keep multiplying, especially those migrating from tech space layoffs and those disenchanted with corporate business-as-usual.
We crave connection even more after a long shutdown, and we are drawn to those who help us feel connected in our work and our lives.
Quotable Quotes
“There is going to be so much fear about things like recession, inflation, monetary policy, war, politics—and it’s easy to get sucked into that. But those who don’t—those who conquer it—have got the opportunity to up our game and take home a bigger share of the marbles.”—RM
“There’s a line from Game of Thrones where this character named Little Finger says, ‘Chaos is a ladder’ meaning that depending on your situation, chaos can be a good thing. And it’s true... chaos can be good.”—JS
“Niching is actually fun because you’re finding your people, you’re finding the way that you can use your superpower… the next thing you know, your business is full of people who energize and inspire you.”—RM
“Another social media related prediction that I’ll make is that LinkedIn will benefit from all of the chaos surrounding Twitter.”—JS
“A reasonable number (of those laid off from tech) will say, you know what? I’m done. I’m done with somebody else having control over me…I am gonna do this on my own.”—RM
“There’s a really interesting development in the AI world called stable diffusion, which turns text prompts into amazing 2D images.”—JS
“Actuarial valuations were a commodity, but nobody recognized it until somebody decided to start a new firm and change the pricing structure. And then, guess what? All the big firms dropped their prices and started to finally look at that data as a commodity.”—RM
“If your prospective clients cannot differentiate you in any meaningful way from other people who have a similar looking resume, then you’re on thin ice.”—JS
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Yours,
—J
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