Why experiences are the new consumerism

The Experience Economy

It’s not surprising that ‘consumerism‘ emerged as a thing in the post World War 2 era. The last 50 years of the 20th century was a time when we quickly homogenised under the influence of the TV Industrial Complex. We all drifted into a suburban symmetry with little variety in the western world. People had to find a way to display their worth to their tribes and wider community. As many of us entered administrative jobs (think white collar clerk work) which literally looked like we were doing the same things, we needed to find a way to show our position in the hierarchy. And boom – hello consumer land. The more people had, a better car, better clothing, more expensive toys, better furniture, the more successful people would think we were. It was an unwritten ground rule we all abided by. And it was a very effective way to show people that we were creating ‘economic value’. Someone’s consumption patterns told the story of where they sat in society.

I’m starting to wonder if the ‘experience economy’ has the same underlying driver. Sure, we all claim that we’ve moved beyond shallow consumerism, that experiences are more valuable and worthy, but it could be that they provide the same emotional benefit and are just different tactic.

For me it’s more than a coincidence that the experience economy is emerging at a time when people now have the tools to show off their experiences. In the past, our experiences were invisible to all but those who viewed a photo album in our home or heard our story first hand, face to face. Now our experiences are only matched by our desire to share them on every social tool we use. The shift to the experience economy has come at a time when it’s finally possible to share what we do, in ways we never could. Just like conspicuous consumption, experiences can now be shared with strangers, loose associates and colleagues. Even the profile pic is best suited to a tropical locale, or the burning man festival. It sends a message just like a fancy automobile can.

I don’t know if this idea resonates with anyone else, but I do now that a great deal of our human drivers have not changed in 200,000 years – just the ways we express them does.

You should totally read my book – The Great Fragmentation.

Innovating too early is the same as being wrong

The EV2 Electric car

I’ve had a few startups where I was a bit early. I’d put my former startup rentoid in this category – not to mention the amazing potential pivots I missed. When someone is early to an emerging market we often say these simple words.

“He had the right idea, he was just a bit early.”

Here’s the truth. Early is the same as wrong. I know it sounds mean, but we have to be honest with ourselves. If the idea is not at the right time, then put simply it is the wrong idea. But I will admit there are complexities with being early, and it leads me to these thoughts.

  1. I’d rather be wrong by being early, than wrong with a dumb idea.
  2. There’s always a good chance of being early with something new.

Number 2 points to the importance of keeping costs low. A low cost operation has more time to learn and iterate. They have a better chance of getting closer to todays needs, and or the market catching up to their initial vision.

You should totally read my book – The Great Fragmentation.

What to do about people judging you


A friend works in a creative field. He’s a talented artist and was telling me how he hates being judged while presenting his work. So he prefers to do the work and let others sell or pitch it.

I told him this:

You’re being judged anyway. Best you inform that judgement with your presence.

Hiding from reality rarely changes the outcome, but when we do hide, we can never iterate on the fly, we can only wait for the news.

You should totally read my book – The Great Fragmentation.

What entrepreneurs can learn from my terrible cover band

Beatles tribute band

As a teenager I was in a cover band. Which is bit like selling imitation goods at the market for discount prices. We practiced a couple of times a week, for about a year. Sure we improved, but never thought we were good enough to start doing gigs. We never left the garage. What a waste.

Maybe we were good enough, maybe we weren’t. Whatever we thought didn’t matter because there was no feedback from the market, only voices in our heads and group think. (pun intended).

But worse that that, is this. We would much rather have played our own songs, but didn’t believe we had the talent. We didn’t even allow ourselves the privilege of doing what we believed in. We ended up hidden away playing ‘songs we liked’ and never sounded as good as the originals. Which no one ever can. Our fear from ourselves killed our dream before we even started. Our net results was worse than if we tried to do originals and failed.

When starting anything, here’s a few things to remember:

  • We’ll never be ready.
  • Copies get compared to who came first, and always make less money.
  • It’s harder to compare, when you make original stuff.

Get out of the garage and be original. It is better to fail being you, than fail by not quite being them.

You should totally read my book – The Great Fragmentation.

Constraints are your friend

You’ve probably never heard of Rodney Mullen, but he basically invented modern freestyle skateboarding. The tricks you see with kids flipping their boards with their feet – it mostly came from him.

https://www.youtube.com/watch?v=xMsSLXRfwB0

But here’s the really cool bit about Rodney’s story as he tells it:

“I learned to skate in our garage. We lived in the country in Florida, it was sort of farmish, and there was no cement anywhere else. Vert skating was the kind of skating that was done in pools, where you could get airborne and be weightless. The other style, which is what I did, was called free style, which was tricks you could do on flat ground.”

How cool is that…. he literally had nowhere to skateboard. There was no concrete to ride and glide along, so he used the little square space of his garage to learn. And he did what his small space allowed. Cool little flips and tricks you can see in this video. It was what he didn’t have – space to skate – that helped him invent something entirely new. New solutions and new interpretations of skateboarding based on constraints.

While it’s easy for entrepreneurs to think that limited resources thwart possibilities, they are actually what we need to create something amazing.

You should totally read my book – The Great Fragmentation.

Your app is not an app

8 bit smartphone

Never, ever tell anyone your startup is an app. It’s a startup that does X, Y or Z.

Saying your startup is an app, is a bit like telling people your startup uses electricity. The app side of what you do is making the infrastructure the hero, not the problem you solve.

My latest startup is all about Surfing. #SneakySurf – you might have seen me tweet about it. It’s still in private beta, and it is, lets say – ‘Smartphone compatible’ but it is much more than an app. I never sell it as such. It is a surfing company.

The world doesn’t need another app, but it certainly needs many more businesses. Make sure you don’t confuse what you really do, with the infrastructure you happen to employ.

You should totally read my book – The Great Fragmentation.

Forbes ironically forgets Economics 101

A few times I’ve had friends link me to interesting articles from Forbes. The topic looks good, I’m excited, and click in and I get this:

Forbes ad blocker request

 

What Forbes are really saying is this: “Sorry Steve, even though you have an ad blocker, and you’ve taken definitive action to not see advertising, we want you to turn off your ad blocker, so we can trick our advertisers that your eyeballs are worth paying for.”

And here is what happened. I clicked out and read something else. I’ll never read a Forbes article online again. I’m not sure if it’s a shame or a sham? Why would any media organisation try and trick it’s advertisers into believing they are getting more value than they really are. If I did do what Forbes suggested, then I’d be getting the advertisements, but ignoring them. Certainly a worse outcome for the advertiser, they’d be paying for attention they’re not getting. It seems most people agree.

Forbes ad block comments

What Forbes and anyone else putting up barriers seem to forget is the first lesson in economics – demand and supply. And content is supply rich for readers. If you lock us out, we’ll get it elsewhere. If anyone in the content game wants their audience to jump over walls they better ensure what they’re offering is not on this side of the barrier as well.

You should totally read my book – The Great Fragmentation.