How the Information Age Changed the Nature of Savings, Risk, and Gambling

The internet was nothing short of a revolution. And, we are probably still unaware of how huge an impact the world wide web has and will make on our lives. For business, it has turned the old model of working nine to five and doing as you’re told to a free gig economy where you can live in a village in South-East Asia and work for the Fortune 500 company right off Wall Street.

While some negative aspects, like lowering drive towards academic education and less stability have been noticed, this might be a direct result of a faster economy where people have a larger degree of disposable income to invest in things that might not turn as much profit as they will bring them more job satisfaction and entertainment.

One of the best indicators for this relationship to risk is the different approach to gambling, which has now turned to online gambling, where the players are not only better informed about their options, but also more inclined to risk if it is for entertainment, and less likely to fall into addiction.

Weeding out the Bad Actors

There is a good reason why it seems that there are a lot of bad actors and sleazy scammers, especially in the business world; it is because we can now see them. When we look at the numbers, we can notice that the number of frauds, especially for small time victims, has diminished greatly.

Because we have more information at our disposal, we can notice bad actors quickly. In the past, once someone was found out to be a trickster they would simply skip town and move elsewhere. But, you can’t run from the internet. If you scammed someone once and was found out, you are marked for life and will need to work extra hard to remove that stain from your reputation.

Even when it comes to gambling and entertainment, we see an increase of independent reviewers and educators that have a goal to show us what is behind the curtain and if we are paying into the real deal, or being taken for a ride.

Death of Celebrity Culture

The 20th century was all about the Hollywood stars, and every other nation had its own version of such celebs that moved the masses with their majestic presence. One of the best things an advertiser could do was to hire a celebrity to promote their product as something they use at home.

Then, we got the internet and with it internet portals and social media, which showed that just because someone is starring in a movie doesn’t mean that their life choices are as stellar. The audience will still respect someone for being good at their craft, but the fanatics are scarce compared to before.

Even the weird middle-step of social media influencers and starlets is on its way out. Fans still exist and are willing to do everything to emulate their idols, but the number of those fans is nothing compared to the global market. 

Risking for Fun and Entertainment

Businesses of today need to focus on the product, and not the brand. Brand loyalty may be a good thing if you are recognized as someone who consistently delivers a good item or service. But, if you fluctuate, your logo will mean nothing.

Additionally, people are more willing to take risks with new products and new offers. In the gambling world we see that with ‘casino jet setting’, which has become really easy for online gamblers. The customer is even willing to take on more risk if they will be entertained by the process.

The novelty market is on the rise, with customized small brands offering better and more personal service than the large fashion giants that ruled the market only a decade ago. People are willing to try new things, and they will flock to those who can freely innovate.

Socially Conscious Businesses

Finally, there are two major tendencies when talking about modern businesses. On one side, there are faceless corporations that employ the new priestly class of ‘social consciousness advisors’ that are usually there focusing on a shortsighted political agenda.

On the other, there are individuals, who may form a large company together, but came to that idea because they think it is the right thing to do and something that will help their customers. That can be with good relations with the public, adequate communication, or helping customers solve some of their problems, but is always for the greater good. Focusing on this type of business is the future of commerce and probably one of the best things that the information age gave us thus far.