The Prof G Pod with Scott Galloway Office Hours: Why Cars are the Next Battleground for Attention, Advice to a Young Real Estate Investor, and Balancing Fun with Frugality in Your 20s
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Jul 19, 2023 The automotive industry is becoming the next frontier for digital experiences, with cars evolving into interactive platforms. There's a fierce competition for consumer attention as manufacturers seek to monetize in-car infotainment. Valuable advice is offered to young real estate investors navigating their unpredictable earnings. The importance of enjoying youthful experiences while managing finances is emphasized, advocating for a balance between frugality and fun.
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Cars as App Stores
- The automotive industry has a huge opportunity to create the next big app store by opening up their in-car panels.
- This would allow developers to create custom driving experiences and generate substantial revenue for car manufacturers.
Auto Industry's Shift
- Scott Galloway points out that the automotive industry, like newspapers and other media, initially partnered with tech companies like Apple and Google.
- However, they are now trying to develop their own operating systems to control the in-car experience and monetize driver attention.
GM's Strategy
- General Motors plans to remove Apple CarPlay and Android Auto from future EVs to focus on its own subscription services.
- This move aims to generate up to $25 billion in annual revenue by 2030, highlighting the shift towards in-car monetization.