Nikonomics - The Economics of Small Business

93 - Don’t Miss the $16 Billion Genealogy Boom: Use AI Tools with Chris Koerner

Dec 6, 2024

In this episode, Chris Koerner, a business partner with a rich background in healthcare, explores the booming genealogy market. He discusses using AI to capture family stories through tech innovations like chatbots and video interviews. Chris emphasizes the rising demand for genealogical services as the population ages. He also delves into biohacking, sharing insights on health tech tools like glucose monitors and their potential to create profitable business opportunities, blending personal growth with innovative tech solutions.

42:53

Episode guests

Chris Koerner

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

The projected growth in genealogical services indicates a significant business opportunity, with the market potentially reaching $16 billion by 2033.

Utilizing AI tools like video recording and handwriting recognition can help families preserve and document personal histories for future generations.

Deep dives

The Silver Tsunami and Demographic Shift

The population of individuals aged 65 and older is projected to double by 2050, increasing from 52 million to an estimated 95 million. This significant shift in demographics indicates a growing need for services catering to the elderly, especially as the rates of Alzheimer's and dementia are also expected to double within the same period. With a rising number of dependents for every working individual, there will be greater pressure on healthcare and support systems to provide adequate care. This trend highlights an enormous opportunity for businesses focused on the aging population and their unique needs.

Intro

2min

Preserving Family Stories in the Age of Technology

4min

Innovative Technology for Capturing Family Histories

3min

Innovative Wearable Tech for Elderly Storytelling

4min

Unlocking Revenue and Storytelling in Assisted Living

18min

Monetizing Passion: Accountability and Business Ideas

13min

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨

Join me, Nik (https://x.com/CoFoundersNik), and my business partner Chris Koerner (https://x.com/mhp_guy), as we dive into another episode of HoldCo Bros! Chris and I have generated over $100 million across our companies, and every week we get together to brainstorm and share insights into our businesses.

In this episode we discuss the Silver Tsunami idea - capturing stories from the older generation using AI. We're talking about video interviews, AI transcription, and even creating chatbots that can help preserve family history. Then, we jump into biohacking idea. Chris shares his vision of using tools like continuous glucose monitors for accountability challenges. It’s all about health, growth, and leveraging tech to improve life.

Chris's YouTube: http://tkopod.co/p-yt

Questions this Episode Answers:

How can you capture and preserve family stories with new technologies?
What are the business opportunities in genealogical services and storytelling?
How can AI tools be used to create meaningful family history products?
What’s the value of biohacking tools like continuous glucose monitors for personal health?
How can you turn health tracking into a profitable business opportunity?

Enjoy the conversation!
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Love it or hate it, I'd love your feedback.
Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts.
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This week we covered:

00:00 Highlights_The Silver Tsunami: A Growing Demographic Challenge
02:53 Genealogical Services: Capturing Family Histories
05:49 Innovative Products for Story Preservation
09:05 Leveraging Technology for Memory Capture
11:59 Creating Value in Assisted Living Facilities
14:58 The Business Model: Vitamins vs. Painkillers
17:47 Practical Implementation: Podcast Studios in Facilities
21:35 Innovative Storytelling in Assisted Living
24:23 New Year, New Business Opportunities
25:50 The Power of Continuous Glucose Monitoring
29:41 Accountability in Health Challenges
33:03 Monetizing Passion vs. Business Strategy
39:16 Evaluating Business Ideas: Marry, Date, or Kill?

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