Elite group think and over-reliance on AI stifle innovation in media

“59% of the most powerful people in media and tech today all went to the same 34 colleges, so they’re self-selected through an educational industrial complex,” he deplored. “95% of the most powerful people at the most powerful companies on the face of the earth grew up in great privilege, they’re not used to hearing no, and as a result big media and big tech has become the new Habsburg dynasty.” 

Media has hit the point where it is “strategically impotent and culturally inept”, due to a culture of in-breeding in hiring and cut backs in talent hiring, added Shapiro, who noted 55% of companies who performed major layoffs in favour of AI workflows regret it and rehire staff. “There are a number of reasons but a lack of contextual intelligence allows AI to be misused. It’s neither as efficient or inexpensive as we’ve been promised and often does more harm than good.” 

A cure to this is to follow the growth, which is small businesses. “In the last three years a record number of small businesses has been started around the world. The next big media companies are being started by people in this audience right now.” 

The vertical television revolution, starting with microdramas, is moving into all aspects of the economy. “Most video is watched on phones and most of that video sucks, and the more AI slop there is, the more demand for good content.” Examples include recent Tik Tok and Disney global short-form content-sharing deal brand, Netflix’s vertical feed and even Jamie Oliver’s new vertical microcomedy. 

The affinity economy is blossoming too, illustrated by FIFA’s work with creators at the recent World Cup. “Hire contextual real intelligence before AI, diversify the room where you make your decisions, and the creator economy is a great source of talent right now,” he urged those seeking success in this industry.