Kevin O’Leary, known for his sharp business sense and straightforward advice, recently highlighted what he thinks is one of the greatest opportunities for people starting from scratch: the digital economy.
According to O’Leary, if he had to start over today, he would dive headfirst into the digital world, using social media as his main tool. In his words, it’s all about direct-to-consumer business and telling a good story. And there’s no better time to do this than now.
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"You want a direct-to-consumer business that you can tell a story about on social media. That's a very powerful combo,” O’Leary said, emphasizing that there are no barriers stopping people from setting up accounts on social media and showcasing their products or services to the world.
With a few good ideas, anyone can use platforms like Instagram, TikTok, or YouTube to build something from the ground up. According to him, it's all about starting small, figuring out what resonates with your audience, and building from there.
He refers to this as "America 2.0" — the post-pandemic world where the digital economy is booming, and side hustles are becoming mainstream. This new wave of economic opportunity comes with the growth of e-commerce, digital marketing, and innovative online businesses that have become more accessible than ever.
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Essentially, anyone with a smartphone can tap into the vast opportunities of the digital economy, making it "the big side hustle in America" right now.
The numbers back up O’Leary’s enthusiasm. A recent estimate claims that the U.S. digital economy alone is enormous, ranking as the eighth largest economy in the world and generating $2.57 trillion in GDP in 2022. This rapid growth reflects how critical digital industries have become, from software and computer design to e-commerce and gaming. Not only is it a huge part of the economy, but it’s also providing well-paying jobs; digital economy workers earn about 33% more than the average American worker.
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O’Leary sees direct-to-consumer businesses powered by storytelling as the key to breaking into this new economy. You have the opportunity to go from nothing to something big by telling the story of your product and interacting with customers online, much how the digital economy has evolved to become a huge contributor to the U.S. economy.
The digital economy is also shaping the future of finance itself. For those interested in staying ahead of the curve, the upcoming Benzinga Future of Digital Assets conference is the place to be. It's a one-day event where digital asset innovators and industry leaders come together for unparalleled networking and exploration of what's next for the financial world. This is the perfect opportunity for anyone looking to understand how digital assets and new tech are creating opportunities in the evolving economy.
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