1) Economic -- Hemp Industry set to create a job boom in the US
a) Online (https://finance.yahoo.com/news/newly-legalized-hemp-industry-set-150038120.html)
b) I believe that an opportunity exists here because with an increasing legalization of the cannabis plant I think that more and more opportunities will arise to be able to use the plant to your advantage.
c) I think that the most likely customer would be any person that suffers anything that CBD helps with.
d) I think the opportunity is very easy to exploit because all you have to do is find where Dispensaries are opening (they are going to pop up all over the place) and find a job with then or open your own dispensary.
2) Regulatory -- New York might make it illegal to text while walking
a) Online (https://www.cnn.com/2019/05/20/us/new-york-walking-while-texting-trnd/index.html)
b) I think that this information will present an opportunity because this law covers an action that everyone will be doing that would be breaking the law
c) I think that type of person that this would affect would be everyone. Simply put everyone uses their phones while they walk
d) I think that this opportunity will be very hard to execute because just of how hard it would be to implement
3) Regulatory -- FDA CBD Regulations
a) Online (https://www.washingtonpost.com/business/2019/05/31/amid-flood-cbd-products-fda-holds-first-public-hearing-cannabis-extract/?utm_term=.5475e3749e07)
b) I believe that this opportunity exists because depending on how the FDA classifies CBD it will completely change how people can obtain CBD and completely forms the CBD market around that
c) I think that everyone that would be interested in partaking in CBD would be affected by this opportunity.
d) I think that this opportunity would be easy to go with because regardless of the outcome of what the FDA labels CBD as it is still legal.
4) Economic -- Younger Generation not willing to pay outrageous prices for engagement rings
a) Online (https://www.cnbc.com/2019/05/20/younger-generations-say-i-dont-to-high-cost-engagement-rings.html)
b) I believe that an opportunity exists here to create an alternative to diamonds for engagement rings
c) I think that the most likely customer for this would be people that are of the age were most people get married
d) I think that this opportunity would be pretty easy to execute you would just have to advertise yourself the right way to not make it so that your product doesn't seem too cheap but at the same time is not a ridiculous cost.
Hey ethan! I really liked reading about your second opportunity! It’s so interesting to see New York actually taking walking and texting into action because even myself has been caught running into people while walking and texting!
ReplyDeleteHey Ethan,
ReplyDeleteI completely agree that the hemp industry is becoming a strong economic trend and that there is large opportunity here to make a lot of money but there are heavy legal actions that are necessary in order to mess with hemp and that's where the opportunity may be risky.
Ethan,
ReplyDeleteI really enjoyed reading your post and thought that all of your opportunities were very interesting. What I thought was particularly interesting was your regulatory opportunity that had to do with CBD. I had a similar opportunity in that I was talking about the legalization of marijuana and the industry that could boom because of it. I know there are a lot of benefits it could bring. I think you did a great idea of capturing some opportunities that are really pertinent to today’s society.
Hi Ethan,
ReplyDeleteI really liked your opportunity about texting and walking. I think that there could be a great product to market to the entire city if this law actually gets implemented and enforced. Maybe something like an earpiece or headset that can read you your texts and let you respond to them using text-to-speech. I think that you make a good point that it would be hard to enforce. Simply to many people text while walking.