The coronavirus pandemic likely accelerated the demise of linear TV and boosted momentum for social commerce and the creator economy. In this week’s episode of FYI, ARK sat down with Gary Vaynerchuk to talk about the future of the digital economy. Gary is a serial entrepreneur, five-times New York Times bestselling author, Chairman of VaynerX, CEO of VaynerMedia and VaynerSports. Gary is a highly sought-after public speaker, as well as a prolific angel investor with early investments in companies such as Facebook, Twitter, Tumblr, Venmo, and Uber. In today’s episode, Gary shares several hot takes on the future of advertising, social media, and the creator economy. , He shines light on how both executives and consumers have contributed to the recent shift in COVID-era marketing strategies, why Facebook holds the key to advertising to seniors, and how gaming could be the next wave in social. Finally, tune in to hear Gary tell us about the impending “trillion dollar warfare” and the advent of social commerce 3.0.
“As long as the internet is the foundational infrastructure of our society and as long as it doesn’t get over-regulated, content creation will be sustainable in perpetuity, until it takes all the money out of the ivory towers” — @garyvee
“Whether you’re YouTube or Spotify or Facebook, I believe all three of those companies are in the same business. They need to show me that they can vertically integrate with retail.” — @garyvee
Key Points From This Episode:
What the future holds for advertising and the digital economy and why the winners will be those that are financially able to invest in streaming and OTT
Biddable OTT platforms could allow even small businesses to run ads on TV classics like “Friends” and “Seinfeld”LinkedIn and TikTok offer preferred economics and value for small businessesFacebook could sell retirement homes and caskets like hot cakesWhy social media advertising is swallowing linear TV ads, except for the Super BowlThe impact of COVID on innovation, when decision makers became practitionersGary never bets against human advancementWhy the big, iconic brands need to shift their media and creative strategies to digital.Gary explains his thoughts on the content creation market.Gary dives into how various apps like Instagram, TikTok, and Snapchat have democratized content creation and give users “training wheels” to create betterGary’sv100% convinced text is replacing emailWhy YouTube, Spotify, and Facebook are all in the same businessGary believes that the infrastructure of social commerce is a huge overlooked opportunity and predicts what the platforms of the future will encompassGary predicts what the future of shopping at home will look like
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