First-generation social media users who came of age using platforms like Twitter and Facebook in the late 2000s are now feeling burnt out and disconnected from the current state of social media. As these platforms have prioritized ads, influencers, and metrics over meaningful conversations, many millennials are using social platforms less and feel no space replicates the early promise of connection. While new apps are emerging, they have yet to gain the same widespread adoption as platforms of the past due to changes in how people now approach socializing online. With social media evolving to emphasize visual content and immersion over discussion, it seems an original vision of virtual community building has been lost for those who helped pioneer social platforms over a decade ago.
Ashish Chauhan, CEO of NSE, discusses how Indian business has always been closely intertwined with society, focusing on social good. The Companies Act now requires large companies to allocate 2% of profits to social causes, a unique law worldwide. Chauhan created NSE to build trust so investors anywhere in India can confidently invest in companies elsewhere. With increasing transparency and governance, India now has one of the best stock markets globally relative to its $2,500 per capita income. The social stock exchange announced in 2019 aims to bring similar trust and standards to the social sector. Chauhan believes societies that adapt to newer technologies can generate greater prosperity, as India has through its culture of trust despite challenges. Overall, he stresses the importance of scaling organizations and systems to promote socially positive outcomes.
Venture capital interest has shifted away from consumer fintech due to recent economic volatility. However, the author believes another wave of consumer fintech startups is emerging as macroeconomic conditions resemble those following the 2008 financial crisis. Younger generations now entering the workforce have high debt and financial worries, driving demand for new solutions. Technological shifts like artificial intelligence also enable more personalized and accessible financial services. As in the early 2010s, these generational and technological changes are disrupting consumer expectations and creating opportunities for innovators to reinvent personal finance experiences. Companies like Chime succeeded by addressing millennial pain points with mobile-first banking, and a new cohort of startups could do the same for Gen Z.
Warren Buffett’s secret life? Journalists at ProPublica analyzed Buffett’s personal trading records and found some instances where his trades seemed to conflict with trades by his company, Berkshire Hathaway.
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