First, I just wanted to say the Baby Boomer generation endured many hardships and I am beyond grateful for their sacrifices, especially since I'm a child of a Vietnam Vet who battled PTSD until his last days. I'm dedicating this post to them.
Even as a GEN-Xer, I too have a hard time understanding the millennial generation and their interests, but I think it's incredibly important that we understand them so we don't form a bias that is not aligned with reality or the trend.
For the life of me, I could not understand why billions upon billions of dollars are spent on a digital goods, with the extremes (as I see) being completely optional Fortnite skins that simply change the way your character looks within a video game and provide absolutely no in-game advantage. I couldn't imagine a bigger waste of money at $20 a skin. If I could understand this, I might have a shot at understanding this generation's interest in intangible goods. I simply don't want to be left behind and I needed help breaking my strong bias.
So I created a Fornite account a few years ago (Season 5). Today I own over 30 skins, and yes, I have a hard time admitting this, since skins are purely optional and not required to play the game. To an outsider, I'm part of the problem with the millennial generation, and I'm not even a millennial.
So what did I learn that I did not understand before? Overtime, as I played Fortnite, I became incredibly immersed in the game play. In my opinion, they have the most advanced game engine (Unreal Engine 4) which means animations of the characters are extremely fluid and life like, and this is the keyword here, life like.
As I continued to play, I noticed I became emotionally stimulated by events that happened in-game, and I made friends along the way. Basically, this became a way to experience a life that was not mine, not tied to anything based in reality, and it's merely a glimpse of what's to come in the future. In other words, an extremely convenient way for my mind to escape reality without having to dish out money for a vacation or medication/stimulants that many would take to get similar effects. Beyond that, my kids love the game and I bond with them every time we play, in-game, they see me as their peer and I also feel like their peer.
When looking at it from this perspective, $20 to further express myself within a game and give me a more immersed experience is relatively cheap and convenient when compared to alternatives. Any time during the day when I just want to get away and not have a single thought about anything happening in my real life, this works perfectly. As a side note, as traders, we know how important it is to take a break from the market and completely focus on something else other than the market, allowing us to come back to the charts with an relaxed mind and perhaps a new perspective.
I realize this is a rather odd post, especially for Tradingview, but I thought my experience may be helpful to some who struggle to see the value in intangible digital goods which are quickly becoming (or have already been) the main or growing source of revenue for many tech companies.
Please like or subscribe if this has helped you in any way :) This will encourage me to take the time to create similar posts.
Good analysis. I have understood a lot due to writing the details beautifully.
iaxson
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I like that you posted your own wisdom, from your own experience. it helps to put the financial/digital economy into perspective
RedKTrader
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@ttrending , "I realize this is a rather odd post" -- it is :) but i enjoyed it fully .. and now i want to go and play Fortnite with my kid and blow off some steam (but not money, though)
i honestly worry about how tech-dependent the new generation is becoming - and we too with them - they can't do math without a calculator, they can't learn without Zoom, they can't have fun without Fortnite - and we (the older folks) know this is very fragile cause we've been there before the TV was mainstream.. what's next .. scares me sometimes -- stay safe and all the best
ttrending
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@RedKTrader, Thanks for your feedback! Glad to hear your playing Fortnite with your kids. Personally I think it's great that this generation is embracing technology and leveraging it for their benefit. I agree that it's important to learn math, but using a calculator as a tool to quickly do it is perfectly fine as well. Everyone has a calculator on their phone, and it's extremely rare to be a in situation where a calculator is not available and a person needs to do math. My kids personally enjoy outdoor activities as much as indoor activities. Nothing beats going to the beach, jumping on a trampoline, or riding a bike. I limit the time they can spend on Fortnite and TV to make sure they do not overdo it and try to keep indoor and outdoor activities balanced, both are important.
Games like Fortnite can stimulate the mind in ways that outdoor activities cannot. Personally I've noticed a huge increase in my reaction time and awareness when trading the markets since I'm training this same part of my brain when I play competitive games. For kids, it's the same, and it's important that we help them develop these areas of their brain while they are young, they will need it later on in life. Thanks again for sharing your experience.