“A lot of people earn their income off of what I would call ‘live experience’, whether it’s events or content related to events. So there are all these experiential things that we’re trying to figure out how they can move into the virtual world, and if you can move it into the virtual world it can be good, but then you are faced with the issue around what is essentially one of the rules of digital, which is that it tends to be winner take all,” says Stalnaker.
“There are only so many yoga classes that people can attend in the physical world because there are limitations on class numbers, but a yoga class in the virtual world can have 10 000 people and most people wouldn’t actually know the difference.
“The number one thing is that you have to move very quickly to start building a following or a presence online via the tools that exist today, such as video and audio conferencing as well as nurturing your own existing real-world audience, but you have to start doing that now because those people are always being tempted by other activities and things that are going on online.
“When this is all over and the real world opens back up, I think we are actually going to see a merger between the two that we never saw before. That old model is going to be different from what it was, and you’re going to have to have some form of virtual footprint that overlaps with the physical footprint.
“How do you take what you know in one category, and then shift it to another category that seems unrelated… and that’s actually the core of what a lot of innovation is. That is really interesting for right now.
“There’s loads and loads of work to do in society, there’s so much work, but many of us spend our time waiting for the job and the jobs to don’t materialise. There is this argument that you have to approach this from a work perspective – find the work to do and then the jobs will materialize on the back side of that. You can’t sit around waiting for a job… the jobs aren’t there,” adds Stalnaker.
Watch the full interview by clicking on the link above or here.