2023: The road ahead
Inflation, recession, Bitcoin and Twitter all on the list…
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By Mark Dent, The Hustle
How will 2023 unfold? We’ve scoured forecasts for the economy, Hollywood, and more. We also have a few of our own.
- The US economy will grow at a rate of 0.5% to 1%, compared to 1.5% to 2% in 2022, and there will be a slight recession towards the end of the year. (JP Morgan)
- Disney will create ABC and ESPN. (Wells Fargo)
- The media will break away from Twitter. (Casey Newton)
- Bitcoin will drop to $5,000. (Standard charter)
- Inflation will drop to 4%-5% in May, but it will take much longer to bring it down to 2%-3%. (Mihir Desai, Harvard Business School)
- Big brands will start pushing startups out of the cannabis industry. (Bradley Tusk, venture capitalist)
- Most restaurant ordering kiosks will be replaced by mobile ordering apps. (Nation Restaurant News)
- The S&P 500 will decline, in what is the first negative global prediction followed by Bloomberg since at least 1999. (Bloomberg)
- The stock market will improve after an early sell-off. (An aggregation of strategists monitored by TKer)
- Real estate will be a “person’s market,” with high-priced homes and limited options. (Danielle Hale, Chief Economist of Realtor.com)
- The global box office for movies will rise 12% to $29 billion, putting it 27% below the three-year pre-pandemic average. (Gower Street Analytics)
- Netflix will merge with Disney or Paramount to create a mega-streamer. (CNBC)
- The NFL will announce two expansion teams in Europe. (Tyson Webber, GMR Marketing)
- Malaga, Spain will be the trendiest travel destination, followed by Sydney, Australia. (Airbnb)
- “Kitsch” will become a popular aesthetic for interior design. (Architectural Summary)
- NFTs will make a comeback, but as a way to authenticate another object. (CoinDesk)
- Investors will stop yearning for “hockey stick” growth and will prioritize profits. (Entrepreneur)
- Self-driving cars will have a real impact, but mainly through their use by local governments. (Venture capitalist Robert Ravanshenas)
- After a year of comeback for the events industry, event agencies will struggle as mid-sized conferences, with between 200 and 2,000 attendees, falter. (Skift)
- Twitter will invest in exclusive comedy content to relaunch its subscription plan. (Los Angeles Times)
- People will gravitate towards the extremes when it comes to what they wear – opting for formal or very casual attire as the economy continues to falter. During tough economic times, young workers want to set a good vibe (even Mark Zuckerberg vowed to wear ties in 2009), and they’ll spend the rest of what they’ve got on cheaper fast fashion, casual clothes. opportunity and sporting leisure at reasonable prices. , because joggers and yoga pants are far more comfortable splurges than jeans. Sorry, Levi’s. (To mark)
- We will see the rise of brands that make no sense. People will try to replicate the success of Liquid Death and its $700 million valuation by applying the company’s nonsensical branding to other supermarket aisles. What’s stopping someone from making the liquid death of rice cakes? Put them in a box of Pringles. Do the trademark rainbows and butterflies. But call it Murder Rice. (Jacob)
- There will be more room for activities. The sober-curious movement coupled with our post-pandemic social awkwardness means evenings could be less wasted and group activities more fun. There’s already pickleball, mini-golf, ping-pong, darts, axes and soccer if you’re feeling sporty, but the next stage will be expanded for less coordinated crowds. Think painting, board games, ceramics, chess or video games – only while drunk. (Sara)
Key words
Inflation,
Recession,
Bitcoin,
the commotion,
2023,
Twitter,
Predictions
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