The Pulse by EllisX: Tech & Business Trends Worth Exploring — Feb 8
We know when a week has been calm when the biggest headline is the CEO of Amazon stepping down. However, as we’ve seen in the past the biggest news of the week may not be indicative of a larger trend (though we are yet to see if other tech billionaires follow in the steps on Bill Gates and Jeff Bezos). That’s why we always dig deeper to uncover the trends that are worth exploring further. Here’s what caught our eye in the first week of February:
Cannabis stocks are flying high
Cannabis-related companies have sprung up over the last couple of years, as more states have legalized marijuana for recreational use. Now, since the Biden administration took over the White House, the stocks of cannabis companies have surged. The reason behind this is an expected legalization on a federal level, especially since a number of Democratic Senators and Senate Majority Leader Chuck Schumer are in favor of a marijuana reform. As marijuana for recreational use becomes more widely accepted, legalization at the federal level becomes more probable, which will lead to the creation of more businesses and send existing stocks even higher.
Media subscriptions replace advertising
Several years ago a couple of media companies reluctantly instituted paywalls. As ad revenue for media is waning, it seems like the bet on subscription is paying off. The New York Times recently reported 7.5 million subscribers, making revenue from subscriptions almost the same as the paper’s ad revenue. As advertising dries up and many reporters opt to leave traditional media to start their own Substack publications, media companies are recognizing the power of subscriptions. Last week Sports Illustrated and Time decided to institute paywalls, with articles from ‘star’ reporters included in premium subscriptions. Going forward we expect to see more publications embracing subscriber revenue, meaning that access to quality content may get a little more challenging.
The battle against misinformation continues
Twitter led the charge by labeling tweets that may contain misleading or false information last year. Facebook and Snap joined later. Now, the youngest social network — TikTok — is following suit. On Wednesday it announced that it will label posts containing misinformation and warn the audience that a video may contain ‘unverified’ content. This shows that social platforms, which long shied away from content moderation, are finally embracing their responsibility for keeping the public informed. As social networks evolve, we will likely see much stricter rules across the types of content that will be safe from moderation.
What are your thoughts on these trends? How do you see them impacting society? Do you need an expert opinion on them? If so, you can connect with verified experts here.
