Parent categories: Business.

Adjust business market potential estimation processes for risk to societies

YAML Category

The modern business theory relies heavily on the estimation of market potentials for new products and services. However, the modern neuroscience suggests that market potential can be of diverse nature, caused by decisions of people to buy items due to the stimuli of different regions of their brain, which do not necessarily represent what people truly want.

For example, people may truly want healthy food to taste good, and the ancient region of the brain (gustatory cortex) may try to approximate that, but the chemical manipulation of food taste may misrepresent it, and make unhealthy food taste good, which in turn results in a great market potential for foods that people don't really want, which we could label as harmful market potential or unwanted market potential. Similar things could be said about the market potential for some politicians, the campaigns of whom rely on stimulation of the ancient brain regions like amygdala.

On the other hand, the newer regions of human brain, like neocortex, drive demand for goods that people consciously truly want, such as long, safe, healthy, exciting and meaningful lives. This drives the appetite for stocks of longevity technology companies, their products, all kind of productivity tools, medical instrumentation, on-line courses, measurement devices, sensors, etc., which we could label as having benign market potential or wanted market potential.

The market potential risk estimate depends on whether it is harmful or benign. Today, the extreme cases of harmful market potentials (e.g., for cigarettes, alcohol, carbon emissions, etc.) are indirectly managed by taxation. However, these litigation processes seem to be slow at best, as they usually have to rely on long-term research and consensus of scientific community. It simply does not happen at the pace that the technology is advancing. So, it looks like it would make sense to adjust business theory and education to include the estimation of the market potential risk to society, for example, by making the inclusion of externalities into the equation be the common practice for businesses to think about market potentials.

Ideas how to do it would be very welcome.

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