Economic
1)
Opportunity: Cryptocurrency implementation in websites such as Amazon.com. For their to be the option to "Purchase using Bitcoin," for example.
a) Where I found it: I have invested in the stock market and have read financial books that discuss Bitcoin an other cryptocurrencies and their use within society.
b) Why I think this is an opportunity: Cryptocurrency has been on somewhat of a rollercoaster the past few years. However, if placed on a graph, cryptocurrency would have a mostly upward trend over the past decade. This leads me to believe that, one day, cryptocurrencies would be used as regular currency.
c) Target Market: Anyone interested in having a more global currency that can be used in many markets all around the world.
d) Easy or Hard?
Hard. Not the implementation, but to gather the trust and use of many people within a society would be difficult.
2)
Opportunity: Implementing high school services that increase students' understanding of financial and economic markets and how to manage yourself and strategize.
a) Where I found it: I read an article on the New York Times as well as my personal observations of people my age.
b) Why I think this is an opportunity: I have noticed throughout the years that a vast majority of recently graduated high school students do not know simple economic tasks such as: setting up and efficiently managing a bank account, performing taxes, etc. There is an opportunity of creating cheap services that would appeal to millennials who are looking to increase their expertise in how to handle life financially.
c) Target Market: Millennials and anyone looking to get better at life through finances.
d) Easy or Hard?
Easy. This is just like setting up and running any other business.
Regulatory Changes
3) Opportunity: The potential of the passing of the use of recreational marijuana in Florida.
a) Where I found it: I watched a YouTube video a few weeks ago talking about the possibility of this bill passing.
b) Why I think this is an opportunity: I think this is an opportunity because the law has not been passed yet which means that there are no competitors. Once the law is passed, there will be many people wanting to get in this industry.
c) Target Market: Recreational marijuana users and wanters.
d) Easy or Hard?
Easy because this would be like setting up any other business, but hard because it will be hard for the bill to pass.
4) Opportunity: States such as Georgia and Alabama have implemented laws banning abortions.
a) Where I found it: Many people have been talking about this recently and it has been a topic on the news as well.
b) Why I think this is an opportunity: This is an opportunity because this is a topic that generates a lot of emotion from people due to its sensitivity. Therefore, a lot of support could rise from this.
c) Target Market: People who are pro-choice.
d) Easy or Hard?
Hard because it is such a sensitive topic.
Hello Diego,
ReplyDeleteI liked how you organized and label every portion of your assignment, because it was easy to read. After reading your two economic trends and two regulatory trends, I was a little confused about the opportunity for the first economic trend. Are people using different cryptocurrency from websites to buy bitcoins? I remembered that Facebook is also trying to create their own cryptocurrency. Also, the regulatory change you identified about Georgia and Alabama banning abortions will be costly, because the cost to raise a child is high.
Great post, Diego.
ReplyDeleteThe opportunities you found are very unique and interesting. Your second topic is one that I would very heavily support. Many high schoolers are definitely not well equipped in terms of knowledge about finance and economics, therefore a new class or service could have a lot of potential. The legalization of marijuana in Florida would definitely be a great opportunity for new businesses, however I think it will be quite difficult as the supply of potential businesses ready to start are high.