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The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
The precedent for social + audio
- The social application of video started with a small group of innovators and then exploded to include platforms like YouTube and TikTok, the audio format will follow suit
- Though audio apps may have begun with podcasting and audiobooks, we’re on the front-end of a decade of innovation in social audio
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MORE IDEAS ON THIS
How social audio might innovate
There are many existing audio use cases that can be categorized by product attributes
Themes shaping the future of social audio
- Innovation in the content format
- The evolution of the business model
- The growing ubiquity of audio
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Beyond Podcasts
- There’s more opportunity for audio-first products that go beyond passive listening
- Platforms can provide user-generated content, live conversations, and other social interactions
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Audio will create the next generation of startups in social networking and publishing, much like the innovations we have seen in messaging, video, and other media to date.
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