6A - Identifying Opportunities in Economic & Regulatory Trends

Economic trends:

1. The coronavirus is affecting the global economy negatively.
A) https://www.nytimes.com/2020/02/03/business/economy/SARS-coronavirus-economic-impact-china.html
B) Several companies have mostly shut down in China because of the coronavirus and to prevent it spreading. Major retail and food companies have closed temporarily and their factories have halted production. International airlines have also canceled flights to China.
C) The customers and business owners are affected by this. The customers can no longer consume products being produced by these companies that are closed down, and the business owners cannot profit during this time.
D) I think that this opportunity creates a need for consumers to be able to consume, and for business owners to be able to make more money. Consumers are always looking to consume, and business owners are always looking to profit, so I think this opportunity is easy to use to good advantage.

I saw this opportunity because I realize that this outbreak leaves many people's needs in many different situations unmet. The consumers are not able to consume in the way they were once able to, and the business owners are not able to profit like they once had.

2. Unemployment is still an issue.
A) https://www.washingtonpost.com/business/2020/02/04/trump-touts-his-economy-best-ever-data-is-more-mixed/
B) Even if Trump has improved unemployment rates, it is still a problem. People are still left without jobs and without a way to provide for themselves and their families.
C) People who are unemployed are the ones affected by this need for jobs. They need a job to provie for themselves and their families.
D) I think that this opportunity is very real, but while the need is easily found, it is not as easily solved. Because this problem is so widespread, if there was an easy fix, it would be solved already.

I saw this opportunity because so many people experience unemployment and it affects their lives in such a negative way. They need to be able to provide for themselves and their families, so they need jobs. Unemployment has always been an issue, and while it may not be an issue that can ever be completely resolved, I believe that it can be minimized.

Regulatory changes:

3. Legal age to buy nicotine products raises to 21.
A) https://www.dailytarheel.com/article/2020/02/nicotine-21-ban-0206
B) People aged 18-20 no longer have a way to purchase nicotine products. If they are addicted to nicotine, they will need to have something to ease the cravings. Nicotine business will also need a way to replace the profits that were once made by selling products to people aged 18-20.
C) The prototypical customers are people aged 18-20 and nicotine businesses.
D) The opportunity should be easy to exploit; people aged 18-20 no longer have a way to obtain nicotine, so there is a need there that many of them go to extreme lengths to meet. Nicotine business have probably lost a huge portion of their profits as well, so they are probably desperate to replace those profits.

I saw this opportunity because I am 20 years old, so I see this need in people around me every day. Several of my friends have been affected by this age raise, and they can no longer purchase nicotine products. A lot of them still find ways to obtain them, but they definitely have a need that can be satisfied with other things.

4. States' marijuana dispensaries are being differently regulated.
A) https://www.wwlp.com/news/state-politics/state-reps-vote-on-regulatory-changes-to-states-marijuana-industry/
B) I think that an opportunity exists because this affects many people. If marijuana is harder to sell it will be harder for consumers and businesses.
C) The prototypical customers are consumers of marijuana, businesses that sell marijuana, and people that are incarcerated for illegal distribution of marijuana.
D) The opportunity should be easy to exploit because consumers need to purchase marijuana, businesses need to sell marijuana, and people who are selling marijuana in an unregulated fashion need to be regulated.

I saw this opportunity because many people are becoming incarcerated for illegal distribution of marijuana, but if it was easier to sell legally, the incarceration rates would go down. Also many people need marijuana for medical reasons, so they will need a way to obtain it relatively easily.