Despite the FTX tumult, the cryptos are still standing strong. My sources report that there were fewer crypto-focused folks attending the web3/crypto events that have grown up around Art Basel, but the crowd was “better quality.” Michael Terpin, a Bitcoin maven, said it stood to reason that if Bitcoin lost a third of its value, then about a third of the crowd would vanish.

Coindesk’s review of Art Basel mused about the role big brands play in creating Web3. Nike’s Swoosh, Starbucks, the National Football League and its players, Instagram, Budweiser, Adidas, Dolce & Gabbana and Time Are they really the forefathers of Web3? To me, they represent the Medicis of Madison Ave. They’ll fund a lot of Web3 experimentation and construction but with the exception of the NFL and Nike, the destinations feel a bit forced and inauthentic.

Ken Holsinger, Freeman’s SVP of Strategy, was kind enough to share his internal research on millennials with our group. It’s super-important to understand what millennials want, regardless of what business you’re in, because they are quickly in line for succession… of everything. 

The bottom line, says Holsinger is that “The Millennial Generation is now the largest segment of the US population. They represent the shift from the Information Age to the Experience Age, prioritizing experiences such as traveling instead of traditional expectations such as getting married and having kids.”

“The rapid retirement of boomers during the pandemic, coupled with Gen X being a significantly smaller generation, means millennials have been quickly thrust forward in their professional lives and are needed in leadership roles quickly. They aren’t kids anymore; they are now as old as 42.”

So what’s the lesson for the future of meetings and events? Make them memorable, make them sustainable (they care about climate change deeply), make them align with a cause (they will boycott businesses whose causes don’t align with theirs), and leave them with indelible memories. 

While Holsigner is research driven, I look to the field for research (read the Art Basel story). I think millennials are more complicated than we think. I’ll play devil's advocate. For every millennial who fits Holsinger’s description, I bet I can find one who loves high-end parties, will travel to places regardless of the location’s politics or beliefs, and is hoping for a quick hit of NFT or TikTok fame. 

Every generation is a mixed bag, but what we can agree on is that millennials are experience hungry and our main takeaway should be to cater to them with elements of surprise and delight that remain with them once the event ends. 

And it’s not just live events where the experiential and sustainable are musts. Research from UFI, The Global Association of the Exhibition Industry, suggests around 3/4 of visitors and exhibitors at events care about the event's environmental impact. ExpoPlatform recently announced that any meeting created on its Smart Event app will be converted into trees planted. Small steps like these go a long way toward cementing repeat visitors.

While Burns’ prices seem a tad high-end, the idea that we’re all video producers now is very real. An entire market segment dedicated to “creators,” often video-first creators, is blossoming. 

• Today there are 50 million self-declared creators in the economy, including about 2 million professionals.
• The market size has grown to well over $104 billion. 
• Investors poured a record $1.3 billion into the space. 
• And there’s even a strong middle class, with 41% of creators earning a living wage ($69,000 annually or more). 

Sorry Metaverse 
Oxford’s Word of the Year 2022 is “goblin mode.” “Metaverse” took second place. For reasons I don’t understand, “goblin mode” is defined as “unapologetically self-indulgent, lazy, slovenly, or greedy, typically in a way that rejects social norms or expectations.”

Top Jobs of 2023
According to BanklessTimes, more than half (52%) of US companies expect to recruit for Metaverse jobs in 2023. We’re betting that the three hot new job titles of 2023 will be Chief Metaverse Officer, Chief Community Builder, and anything that has the words Video Creator in it. 

Epic Metaverse Fail of the Week
The EU commission’s foreign aid department threw a virtual “gala” which spent about $400,000 developing their metaverse platform, in an attempt to attract the interest of young people. Only six showed up (paywall) to the party, which begs the question “if you build it will they come?” Vince Chadwick commented about the debacle on Twitter. We say ”You built it; keep iterating.”

Silicon Valley Summit
Board member Martin Porter is launching a brand new show, Silicon Valley Video Summit, at the end of January. It’s all about fostering relationships between the tech and video industries. In keeping with our theme that in 2023 everyone and every company is in the video business, we think it’s a great idea. VEG members can exhibit at a greatly reduced price. Call us for details. 

CES 2023 Revs Up
CES 2023 begins, as always, the first week in January. Our company helps put together some of the conference sessions. Let us know if you’ll be out there and we’ll show you a good ‘ole tech time. 

SXSW Pickers
Our panel got picked! We’ll have the exact date shortly but if you’re planning to be in Austin for SXSW, please plan to spend some time with us? So many of you inspired this session.