The Covid-19 pandemic has changed consumer behavior in a major way. The change, however, has only started. As we move through the virus-era over the next two years without treatment and without vaccines, much more will likely change.
As you know, I have a special interest in Art, and have observed its dynamics for many years. I have concluded that the time has come for Artists and Collectors to move online and interact in a fluid marketplace.
Let me explain.
We are in the midst of an anthropological event. An unprecedented situation. A moment of history that we are living. That posterity will read about.
I have received requests from my readers to synthesize my thoughts on the Covid-19 crisis. I can only synthesize my current thoughts right now, but as I learn more, they may/will morph. I think, this needs to be the current spirit of all discussions.
With that, here is a summary of a few points:
First, timeline of economic reopening: I would like things to be mostly shutdown until the risk becomes manageable. Treatment, tests, vaccine, and hospital capacity are the core determining factors. Seventy vaccine projects are under way at drug companies and universities. Numerous drug trials as well. We need to buy time. How much? A lot, it seems. But the answer is a TBD through further careful, scientific analysis by experts, not by politicians with reelection agendas, nor by people concerned about their stock portfolios. This virus is terribly contagious.
We’ve discussed all kinds of creative bootstrapping mechanisms in this series. My #BigIdeas2020 contribution is yet another technique that I believe would be particularly relevant and powerful going forward.>>>
Olivia is 20-years old. Her father and I have been close friends for 22 years.
Of late, we’ve spent a fair bit of time together discussing where she wants to go with her career and her life.
This set of conversations is the catalyst for this post that may be useful and broadly applicable to other young people considering similar questions.
The Economist recently had a cover story titled The 650bn Binge. It opens:
America has seen some spectacular investment booms: think of the railways in the 1860s, Detroit’s car industry in the 1940s or the fracking frenzy in this century. Today the latest bonanza is in full swing, but instead of steel and sand it involves scripts, sounds, screens and celebrities. This week Disney launched a streaming service which offers “Star Wars” and other hits from its vast catalogue for $6.99 a month, less than the cost of a dvd. As the business model pioneered by Netflix is copied by dozens of rivals, over 700m subscribers are now streaming video across the planet. Roughly as much cash—over $100bn this year—is being invested in content as it is in America’s oil industry. In total the entertainment business has spent at least $650bn on acquisitions and programming in the past five years.
For a while, Humanities educators around the world are facing existential questions. What is the point of an English LIterature degree?
Human beings love bargains. There is something hardwired into our brains that makes us seek a good deal. Some cultures, especially the Indian and Chinese, have an extraordinarily sharp elbow around this tendency. But most human beings have it to some degree.
I have been thinking about Conscious Capitalism for a while. As you know, my version is titled Distributed, Democratic, Inclusive Capitalism.
We have a lot of dinner parties.
Our circle of friends is quite broad and all political views are represented in our midst. Far right. Far left. And everything in between.
Diversity of political views, it seems, is a difficult dynamic to manage in social groups. We’ve experienced people leaving the table upset, even storming out of dinner parties.
We are bracing ourselves for 2020.
My last thank you note goes to my readers, especially those who are participating in the Colors series.
This year, I started publishing a new series on LinkedIn, Facebook, and my blog called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about Art and Culture. In this series, I typically publish a piece of Art – a painting of mine – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area.
My second thank you note is for regaining something unexpected, something that I value tremendously: dance.
I studied Indian classical dance since I was four years old. I stopped studying when I came to college in the United States. In college, however, I choreographed and performed about five times a year.
When I went to grad school to MIT, I stopped performing on stage, but I picked up Ballroom and Latin dancing, and had a blast learning to Waltz, Foxtrot, Swing, Rhumba, and eventually, started studying the Argentine Tango. MIT had a terrific Ballroom Dance club and I made many friends with whom I danced five times a week. It was an excellent stress management mechanism that I kept up throughout my years of running companies.
In the last 15 years, I haven’t danced that much.