The Impact Of Trends and AI On Businesses l Morning Brew Daily

Summary

In this insightful discussion, Gary Vaynerchuk addresses the shifting trends of Gen Z's declining interest in alcohol and the impact on the industry. He shares his thoughts on the 'attention economy' and the importance of capturing and maintaining an audience in the digital age. Gary also delves into the effects of social media on youth, emphasizing the role of parenting in navigating these challenges. His new book, 'Day Trading Attention', offers strategies for building brands in the ever-evolving social media landscape.

Takeaways

• 🍷 Alcohol Consumption Trends: The script discusses a significant trend of Gen Z and younger generations moving away from alcohol, but emphasizes that this doesn't spell the end for the industry, as there's still substantial consumption and opportunity for new brands.
• 📉 Business Impact: A decrease in alcohol consumption, even by a small percentage, can be challenging for businesses, but the best players in the market are expected to gain more attention and continue to thrive.
• 🌐 Attention Economy: The concept of attention as a form of currency is highlighted, with the speaker sharing his broad interest in trending topics and the importance of staying informed about a wide range of subjects.
• 📱 Break the Web App: The speaker mentions an app called 'Break the Web' that tracks trending topics across the web using AI, indicating his interest in tools that help monitor cultural shifts and trends.
• 🔍 Macro Curiosity: The speaker describes his approach to staying informed about many topics without going too deep into any specific area, except for his passions like sports teams and wine.
• 🎤 NLE Choppa's Rise: The potential for certain individuals like NLE Choppa to become significantly more famous is discussed, indicating the speaker's belief in the power of social media to propel individuals to stardom.
• 📚 Book Update: The speaker is releasing an updated book called 'Day Trading Attention,' which follows up on a previous work and reflects on changes in social media and branding strategies over the past decade.
• 📈 Social Media Shift: A major shift in social media dynamics is highlighted, where the focus has moved from building a large following to creating quality content that resonates with audiences.
• 🤖 AI Influencers: The rise of AI influencers is predicted to significantly impact traditional social media influencers, much like how social media influencers have affected traditional celebrities.
• 🏠 Parenting and Social Media: The speaker argues that the key to children being alright with social media lies in responsible parenting, suggesting that parents should have more control over their children's social media exposure.
• 🏈 Sports and Media Evolution: The speaker discusses his investments in various sports leagues and the potential for new sports to rise in popularity as media consumption habits evolve.

Q & A

What trend is observed among Gen Z and younger kids regarding alcohol consumption?

The trend shows that Gen Z and younger kids are moving away from alcohol at significant levels.

How does the speaker view the potential impact of a decrease in alcohol consumption on businesses?

The speaker acknowledges that even a 5 or 10 percent decrease in alcohol consumption can be tough on businesses, but also emphasizes that there will still be opportunities for new brands to succeed.

What new app has caught the speaker's attention and why?

The app 'Break the web' has caught the speaker's attention because it tracks trending topics across the entire web using AI, similar to what Twitter does but on a broader scale.

How does the speaker describe his approach to staying informed about trends and topics of interest?

The speaker describes his approach as being 'macro curious,' staying broad and informed about a wide range of topics without going deep into many, except for areas he is particularly passionate about.

What does the speaker believe will happen to the attention economy if TikTok were to disappear?

The speaker believes that if TikTok were to disappear, it would cause a significant reset in the attention economy, with platforms like Instagram and potentially new startups capturing the displaced audience.

What is the title of the speaker's new book and how does it relate to his previous work?

The new book is titled 'Day Trading Attention,' which is a follow-up to 'Jab, Jab, Jab, Right Hook.' The speaker's thesis has evolved to focus on the concept of 'day trading attention' in the context of social media.

How has the nature of social media engagement changed according to the speaker?

The speaker explains that the focus has shifted from building a large following to creating individual pieces of content that resonate and finding the right audience, indicating a move towards a meritocracy in social media.

What does the speaker think about the potential of AI-generated content and influencers in social media?

The speaker is bullish on AI influencers, believing that they will significantly impact traditional social media influencers, much like how social media influencers have affected traditional celebrities.

How does the speaker view the concept of 'cringe' and its use in social media?

The speaker views 'cringe' as a form of banter or expression that is often rooted in envy or a lack of personal happiness. He suggests that those who use it negatively may be projecting their own insecurities.

What is the speaker's perspective on the impact of social media on kids and the role of parents?

The speaker believes that kids will be alright if parents take responsibility for their children's media consumption, suggesting that the real issue is parental delusion and a lack of consequences for children's actions.

How does the speaker's experience in the wine industry relate to his views on social media and influence?

The speaker's experience in the wine industry, particularly with Wine Library TV, taught him the power of honest opinions and the importance of authenticity, which he applies to his views on social media influence and engagement.