WARNING: The Metaverse is going to change EVERYTHING about your business. Here's what to do.

It is time for us to adopt a new company brand to encompass everything that we do, to reflect who we are and what we hope to build. I am proud to announce that starting today, our company is now Meta. Okay, it's happening. Everybody stay calm. What's the procedure? Everyone, what's the procedure? Stay calm. So Zuckerberg is now going Metaverse first. Everything that the company formerly known as Facebook is now going to be Metaverse focused. Building the digital world. But for all of the noise and all of the press, does anybody really know how to define the Metaverse? I actually think that Sean Puri described this the best. He said, the Metaverse isn't a thing, it's not even a place. The metaverse is a time. It's a time in which we now value the digital world more than we value the physical world. We will get our needs met primarily through the digital world rather than the physical world. And Sean did a great way of describing how this transition has been actually very gradual over the last hundred or so years. Before radio and tv, it was all the physical world, but then radio and TV made it about 15% digital focus. Then you have the Internet and then you have phones, where it starts to become more like 50. 50. How many people do you know that spend 50% of their time in some sort of digital environment posting and staring and typing? You're doing it right now. I mean, you're in the digital world right now. I'm talking to you. In the digital world, the metaverse is when there is now a shift from us prioritizing and spending more time digitally and than physically. And this has huge implications for your business and business in general. But it also creates some opportunities and gaps in the marketplace that most people are not seeing right now. And that's what I want to cover in this video.

So first things first. A good analogy for the Metaverse is to look at Instagram or any social media sites. We derive a lot of our status and a lot of our connection through these digital worlds. We now evaluate people based on how many followers they have or what the content is that they post, or how many reviews they have on their podcast, or how many subscribers they have or how many people that are watching right now smash the like button so that I can give them props because they're cooler than all the people who did not smash the like button. So we already do value the digital world and use it as a way to make decisions and evaluate our physical lives. We will see people's status in the digital world, and it will impact how we interact with them in the physical world. We will see people digitally and spend time with them and go to work with them digitally in the digital metaverse at our digital workplace. But we won't feel like we're disconnected from them, will just have almost a separate life in the digital world and it will feel completely normal to us. This is important to note because we often think that we won't get certain needs met by the digital world, things like connection or status or finances. But these are all impacted by the digital world. Status comes from follower count. Connection comes from feeling like you know what's going on in someone's life. And obviously people like me and probably you make the majority of our money on the Internet. So the first thing that I've been thinking about since this announcement was made was how can I help my customers derive status from the things that I am doing? How can I create products and services that actually increase people's status in the digital world? If I can create things that make people look cool digitally or in the physical world, it increases the value of my product or service. And that is as simple as making your packaging so cool that when people come over or you post about it on social media, people are like, oh, that's cool. Like, that person is a trendsetter. And right now, what that looks like in the digital world is things like issuing NFTs to your customers. This is something that I'm working with with our students and I'm actually doing it internally with our company, is when somebody becomes a customer, can we issue them an NFT that unlocks certain access points? Because that would be something that would increase their status in the digital world. If we're all making our decisions and evaluating people based on their digital wallets and the status they have, then how can I make a deposit into that digital wallet that makes them look cool? You do that with an nft. In fact, one of the things that I've talked about here on the channel and is that those who sell physical products should really consider having NFT VIP groups. In fact, if you sell anything online, I would encourage you to consider having NFTs as a way to create community and status for your community and for your customers. So point number one, as we go more and more digital world first, one of the things you'll need to think about in your business is how I can increase the status and the connection of my customers now that they value the digital world more than the physical world. More importantly than all of this, though, I've been asking the question what won't change as a result of the metaverse as VC firms and entrepreneurs. And all of this money flows into building the metaverse just like it's flowing into crypto. That means that they're overlooking some opportunities too, because as all of this attention and all this money goes into one direction, that always creates some other need. It creates some other gap. For example, today as we are recording this, the world is finally coming back to normal after all of the craziness of the last year and a half. And there's now a premium on in person experiences. In person connection, we experience what it looks like to be in the opposite direction in the year 2020 when we never saw each other and we were forced behind screens and we were all yelling at each other. Well, now there's increased demand, increased desire for in person connection, for real friendships, for real experience that are done one to one. And I found that when I have a one to one meeting with a business contact, it goes way further. It goes, it creates way more connection than it did even a year ago. Because we're used to zoom, we're used to meeting digitally. Having that face to face conversation is now at a premium. It goes even further because so few people are willing to do it and we're not used to it anymore. So what has happened there is that because we've gone more digital and we've had a reduction of face to face meetings, when we have them, we value them more. That is what's gonna happen when we have more of a metaverse focus, is that we're going to prioritize the things that we just see as normal right now. For example, one of the products that is going to boom over the next several years is things like vitamin D. If we are wearing screens all of the time, we're not going outside. In fact, we're not even getting natural light. So things like vitamin D become even more important than they are right now. And it's kind of freaking important right now. So I'm thinking about what won't change. That's where I see a lot of opportunity to, that most people will overlook. And things like our own personal health and things like sleep and the things that we eat and convenience foods, they will increase in value because those needs don't go away just because we're living in the digital world. We will still need to sleep, we'll still need to eat, we'll still need to poop, most of us anyway. And I think there will be a lot of white space, a lot of Opportunities for. For brands and businesses to serve customers in the physical world with physical stuff and taking care of their bodies and taking care of their minds that most people will overlook because we will just be so obsessed with the boom in the metaverse. Another thing is mental health. Mental health will take absolute priority as we are shifting as human beings into kind of this new experience. I also wonder if there will be a premium on things like gardening because we will see there's. We need some way to ground ourselves. We need some way to plug back into the natural world. It's kind of like meditation is having its. Its boom. It's time in the sun right now because we're so distracted. Supplements and focus enhancers and nootropics are booming right now because we've all got adult add right now. Whenever there is a new opportunity, it also creates a lack of something that we have to prioritize and create a premium around. And we're going to have a lot of that as we go. Metaverse first, from a different perspective, I think this opens up some incredible investment opportunities. I'm looking. I bought a lot of Facebook stock recently. I think Facebook is very, very undervalued. This is not investment advice. I'm an idiot on the Internet. Don't listen to anything that I say. But let's just say that I think Facebook is going to lead in this space and it's a multi trillion dollar opportunity. Also, things like gaming are going to really boom. When we have now gaming in the metaverse whole that is going to open up a whole new set of opportunities. And I think this is a great thing for crypto. I think that the metaverse is going to make digital payment systems the normal thing. And I think this was kind of the nail in the coffin of the existing financial system. As soon as the metaverse pops, crypto is now the main game in town. So I personally have invested in things like Visa. I'm looking at PayPal right now, and the companies that are actually focused on crypto and ushering in this new digital payment era. One personal reflection that I'm having as we see this expansion begin is I kind of had to have this question within myself of am I going to want to live in a digital. Do I want to actually change with those times? I kind of wonder if this is social media for my parents, where I just choose not to use it. Where I grew up with social media, I grew up with the Internet. My parents are like, that's ridiculous. Why would I waste my time there? And I'm Having a little bit of that with the metaverse. And I'm starting to realize that there will be people in our generation that decide to opt out, that decide not to go into that world at all, that they refuse to do business in the metaverse. They only do it one to one. And they will be your grandparents. They will be the old people at the party that have no idea what anybody is talking about. And yet there's still value there. Like, there's still a point to that. Us young people will look at them and say, they just don't get it. But they'll be like, I like living in the real world. Like, I'm a more grounded person. And it has helped me understand how these technological advances make people choose whether or not they're going to accept them or not. Overall, I think the metaverse will wildly expand opportunities. They will wildly expand the amount of abundance that we have. They will expand the work that you can do, the people that you can target. In fact, the targeting and the metaverse for advertising is going to be insane. Like the fact that we'll be able to target people based on their purchase history in their wallets and who they hang out with, that's going to be wild. You're going to be running some amazing advertisements in the metaverse. So there's going to be a huge boom as a result of this, but it's also going to create new opportunities, opportunities that most people are overlooking. And right now, that's where my attention is going. One year ago, I was really resistant to all this digital world and crypto and metaverse expanding, but I had to come to this moment where I realized that I could resist it. But it's still happening. Web3 is here, crypto is here, the metaverse is here. And we can either get on board with it and succeed along with its expansion, or we can hold ourselves back, back from it. It's here. The universe expands, Business expands. And if you don't expand with it, then you get left behind. So this is a really good time for you to at least start to think about what your strategy is for using Web3 in your existing business. For me, that's doing things like issuing NFTs to our customers, creating NFT VIP groups, and maybe having workspaces for our capitalism.com entrepreneurs in the metaverse. We'll explore that for you. It might look slightly different, but if you think about what's best for the customer and what the customer is already doing, and you show up to serve them where they are, then you'll always be ahead of the curve. That includes all of the developments that are happening in Web three. This is just the next era of capitalism, and it's going to be pretty amazing. I'm Ryan. Daniel Moran with capitalism.com. thanks for watching. I'll see you guys next time.