Brigadoon Weekend | No. 6 | February 19, 2022
Brigadoon Weekend curates the top ten emerging issues from the week shaping commerce + culture.
ONE
The metaverse is happening for white-collar workers.
By at least 2025, Bill Gates says, white-collar workers will be meeting together in the metaverse.
"Within the next two or three years, I predict most virtual meetings will move from 2D camera image grids—which I call the Hollywood Squares model, although I know that probably dates me—to the metaverse, a 3D space with digital avatars." -- Bill Gates
And JP Morgan is bullish.
The bank predicts that the metaverse will become a $1 trillion market opportunity in yearly revenues, given that its virtual worlds will "infiltrate every sector in some way in the coming years," says a report.
Over the past three months, ever since Facebook changed its name to Meta, media coverage of the metaverse has exploded.
Look for more companies and brands to claim space in the metaverse in the world's third digital land rush.
TWO
The DOJ has a cryptocurrency czar.
The US Department of Justice has named a veteran cybersecurity prosecutor to lead a new team dedicated to investigating and prosecuting illicit cryptocurrency schemes by cybercriminals and nation-states.
Eun Young Choi will be the first director of the National Cryptocurrency Enforcement Team, which will serve as the focal point for efforts to identify and dismantle the misuse of cryptocurrencies and other digital assets.
The FBI is also launching a unit for blockchain analysis and virtual asset seizure.
"If we're going to see — as I think we will — cryptocurrency gaining more traction and gaining wider adoption, we've got to make sure that the ecosystem that they operate in can be trusted and, frankly, can be policed." -- Deputy Attorney General Lisa Monaco
The DOJ is aware that crypto fraud now cuts across a swath of activity, including financial crimes, bribery, narcotics cases, ransomware attacks, hacking attacks, money laundering, terrorist financing, and sanctions evasion.
Look for this new cryptocurrency czar to coordinate with the US and international law enforcement agencies, regulatory bodies, and private industry to establish new rules and regulations for the crypto space.
THREE
Reese says hello to NFTs.
Reese Witherspoon's Hello Sunshine production company has forged a partnership with the World of Women. This NFT partnership is committed to cracking open the male-dominated cryptocurrency world while celebrating inclusivity and equality.
World of Women launched in July 2021 with 10,000 artworks from women creators, quickly becoming one of the most popular and profitable purveyors of non-fungible tokens.
Variety reports that as part of the partnership, Hello Sunshine will build out the World of Women character universe and franchise into entertainment properties, including feature films, scripted and unscripted TV series.
The move is another sign of the growing popularity of NFTs and the potential they hold for traditional media companies on the prowl for intellectual property.
Look for the Hello Sunshine and World of Women partnership to be at the forefront of educating female fans of Reese Witherspoon about the NFT space.
FOUR
Can Bitcoin be a national currency? El Salvador is trying to find out.
Led by the efforts of Nayib Bukele, president of El Salvador, the country made Bitcoin legal tender last September and now is aiming to raise $1 billion to fund comprehensive economic policies by cashing in on the crypto craze.
But the IMF warns that Bitcoin is too risky, and even members of the US Senate have an opinion of the new legal tender of El Salvador.
Legislation proposed by Senate Foreign Relations Committee Chairman Bob Menendez (D-NJ), Sen. James Risch (R-ID), and Sen. Bill Cassidy (R-LA), called the Accountability for Cryptocurrency in El Salvador (ACES) Act, would have the State Department analyze the risk of Bitcoin as a legal tender in El Salvador and propose a way to mitigate risk to the US financial system.
"El Salvador's adoption of Bitcoin as legal tender raises significant concerns about the economic stability and financial integrity of a vulnerable US trading partner in Central America." -- Sen. James Risch (R-ID)
Look for more politicians and regulators from the West to sort out the impact of El Salvador's decision to make Bitcoin legal tender, especially as it relates to the geopolitical and financial actions of China and organized criminal organizations.
FIVE
Consumer Reports named Ford Mustang Mach-E the top EV pick of the year.
Consumer Reports is swapping the Tesla Model 3 for the Ford Mustang Mach-E as its new top electric vehicle pick for 2022. The designation is sure to give Ford a morale boost as it seeks to outpace Tesla in the race to become the number one EV manufacturer in the US.
The Verge reports Tesla has long dominated CR's EV rankings, with the Model 3 holding the position for the past two years. But the publication says various factors, including ride quality, reliability, and the in-car user experiences, have led it to crown a new winner in the Mustang Mach-E.
Look for this announcement by Consumer Reports to confirm that the rest of the automotive industry has finally caught up with Tesla, and the global EV auto race is on.
SIX
Americans' trust in scientists other groups declines.
Pew reports that trust in scientists and medical scientists has fallen below pre-pandemic levels, with 29% of US adults saying they have a great deal of confidence in medical scientists to act in the public's best interests.
This is down from 40% in November 2020 and 35% in January 2019, before COVID-19 emerged. Other prominent groups – including the military, police officers, and public school principals – have also declined their ratings.
Look for a continued decline in public confidence in medical scientists and scientists regardless of party membership or ideology.
SEVEN
Nearly a quarter of the US gets news from podcasts driven by the young.
Pew reports that overall, the share of Americans who say they often get news from a podcast is relatively tiny, at just 7%; 16% of adults say they sometimes do.
Those with more formal education and higher incomes are more likely to get news, at least sometimes from podcasts. For instance, US adults with at least a college degree are more likely to get information at least occasionally from podcasts than those with a high school education or less (28% vs. 17%, respectively).
Younger adults, in particular, are more likely than older adults to at least sometimes get news from podcasts.
One-in-three adults ages 18 to 29 say they at least sometimes get information from podcasts, compared with 12% of adults 65 and older.
Look for more younger adults to continue to turn to podcasts for their news.
EIGHT
The Economist's new digital strategy amid changing news diet habits.
Lara Boro, chief executive of The Economist Group, says the company needs to attract the Zoom generation to survive.
Boro reminds folks that The Economist started in 1843 as a two-page newsletter, not as a color magazine.
"So it will just change. Whether it will be fully audio one day or whether it will be a film, it doesn't matter because the essence of it is the content and the values of the brand." -- Lara Boro, chief executive of The Economist Group
Look for The Economist to embrace digital and new media habits to produce engaging and exciting content for a generation that's native to video games and Zoom.
NINE
Silver Lake to invest in New Zealand rugby.
After months of delays, US private equity giant Silver Lake has agreed to invest in the organization behind New Zealand's All Blacks rugby team.
FT reports the private equity group to put $134 mn into the organization.
Under the deal, the firm will back a new entity that owns the legendary team's commercial rights.
The deal values NZR CommercialCo, the new holding company for the revenue of All Blacks and other New Zealand rugby associations, at NZ$3.5 bn.
Silver Lake is already a significant investor in professional sport, taking a minority stake in Manchester City. It is also a backer of sports retailer Fanatics, Endeavor, and the Ultimate Fighting Championship.
Look for a continued drive to professionalize global sport with significant private equity investments.
TEN
Peer-reviewed Norway science wins Olympic medals.
Norway has won 10 biathlon medals by embracing a plan that prioritized adapting to especially high altitudes.
The "Preparing for the Nordic Skiing Events at the Beijing Olympics in 2022: Evidence-Based Recommendations and Unanswered Questions" report was the blueprint for Olympic success.
The year before the Olympics, the report recommended Norwegian athletes train for more than 60 days and participate in several competitions at such an altitude.
And immediately before the Olympics, they should spend 10 to 14 days somewhere with a similar altitude as the competition.
Not only did this plan help their bodies adjust, but it helped the biathletes and skiers understand how to eat and hydrate in unfamiliar conditions over two weeks of competition.
Look for more athletes to embrace the knowledge that bodies need to adjust based on environments and altitudes, focusing on how athletes should eat and hydrate in unfamiliar conditions.
