You look around the world today and its changing awful quickly it seems, ideas both good and bad seem to be flowing and sticking at the fastest rate any of us have ever seen, technology adoption and trends shifting and pivoting on a dime as a new economy is starting to emerge.
Its a fascinating and terrifying thing to stand back and watch happening around us! The fear is that we won’t be able to keep up, the fascination is this feeling that we are on the brink of something truly amazing that will reshape our very existence. I am sure I am not the only one who feels that. This will prove to be very challenging times for those who fight the speed of the times, both in opportunity costs and pivoting in time into new fields to ensure thriving in this new economy.
Lets look at some data which I have broken down into 3 key areas Technology, Money and Green.
Technology will continue to be a huge sector and in fact they are at the peak of their rule right now as we speak. Everything currently goes thorugh 1 of about 6 big tech companies, that won’t continue forever but for now those companies account for trillions in market money.
For every $1 spent on online advertising, about $0.60 goes to Google & Facebook
Amazon is now worth more than every brick-and-motar retailer in the US combined
By 2030 artificial intelligence is expected to generate a global economic impact of $15.7 Trillion
Things that sound crazy like eradication of disease and illness, living in space and flying through worm holes are a lot closer than you think
Renowned futurist Ray Kurzwell predicts the technological singularity will occur by 2045
Technology has had a huge influence on us, no one can deny that, here is just a snapshot of one day…
500 million tweets are sent
294 billion emails are sent
4 petabytes of data are created on Facebook
4 terabytes of data are created from each connected car
65 billion messages are sent on WhatsApp
5 billion searches are made
By 2025, it’s estimated that 463 exabytes of data will be created each day globally – that’s the equivalent of 212,765,957 DVDs per day!
Automation is another child of technology which Mckinsey Global Institute forecasts up to 800 million workers worldwide could lose their job to automation by 2030. Oxford found similar predicting that 47% of American jobs are likely to face automation over the next 20 years. New jobs and completely new sectors will of course emerge as this shift continues.
This will be another huge shift that will happen in the next 2 years I estimate as blockchain and digital currencies start to hit their decade peak, fiat currencies continue to crumble and people beg for a more “fluid” solution.
Current global debt is $246.5 Trillion owed by governments, corporations and individuals
Roughly $63 Trillion of this is borrowed by central governments
US leads with $22.7 Trillion
In 2017 there was over 680 new cryptocurrencies with over $1 Million market cap (agh good ole bull markets)
Hyperinflation in Venezuela hit over 1,000,000% at its peak
Currently longest bull market in history now 10 years for stock market
Biggest GDP happening in China- 35.2%, US second at 17.9%
Of the worlds richest 50 billionaires, 12 of them were in tech
Just 15 companies manage a vast majority of the worlds securities, about $29.8 trillion worth of stocks and bonds
PBOC is already testing out their new digital currency
Libra Coin (facebook project) is expected to launch in Q2 2020
The IMF, BIS and FED have all vocalized support for a digital world currency as the global reserve currency-removing the USD
This I classify as autonomous vehicles, solar powered anything and electric powered anything for now, which are huge areas with of course tens of billions invested now as it paves the way for the future.
By 2040, a total of $10.2 Trillion will be invested in new power generation capacity worldwide
In the next 24 years wind and solar will make up almost half of global installed electrical capacity
Morgan Stanley sees 1 billion electric vehicles by 2047
Global insured losses from natural catastrophes in 2018 total $79 Billion
84% drop in benchmark price for solar since 2008
49% drop in benchmark price for onshore wind since 2009
In 2017 global sales for new electric vehicles passed 1 million units
Companies developing self-driving car tech
Apple, Audi, Baidu, Benz, BMW, Bosch, Continental, Fiat Chrysler, Ford, GM, Google, Huawei, Intel, Nvidia, Samsung, Stagecoach, Tesla, Toyota, Volkswagon, Volvo, Uber
Once fully adopted, autonomous vehicles will save the US economy alone $1.3 Trillion per year. This also means that private car ownership in the US will reduce by 43% by 2030, disrupting many areas including Insurance, Travel and Real Estate.
Pretty crazy numbers right?
That’s it for now!
P.S. New article dropping tomorrow talking in depth about the above data more and how that will affect this looming 2020 recession, be sure to allow/enable notifications on EmpireResearch.net to get heads up when we post articles and videos.