At today’s Telstra Digital Summit in Sydney, digital strategist Brian Solis spoke about the disruptions happening across all industries.
One of the sources he cited was Scott Galloway of the New York University’s business school and Galloway’s Winners and Losers presentation from last May.
The presentation is thought provoking with Galloway predicting many of the social media platforms are doomed to either low returns or failure.
Galloway is particularly scathing of Pinterest: “They were the leader in the visual web, but they’ve been blown away by Instagram”. Instagram’s success, Galloway believes is driven by the shift to visual communications on the net.
The biggest takeaway though is Galloway’s prediction that the middle class is in decline. That has great ramifications for all businesses built upon the Twentieth Century consumer model.