Saturday, March 08, 2008

The kids have no money

So the worlds youngest billionaire is the guy who invented facebook. Companies every day fight over access to sites like myspace and facebook.
Why?
AFAIK, the appeal is that "that's where the kids are".
But this is outdated for two reasons:
1) Kids are getting used to stealing stuff anyway. this does not make good customers.
2) Kids are generally broke, even UK students now face university fees
3) With the global credit crunch, kids aren't likely to be able to get access to cheap credit to buy stuff they way they used to.
In short, the teenage market is crap. Why sell to them? Retired people often have more money, and the 40-50 age group are rolling in cash, because they are at the peak of their careers, and the kids have left home.
Why try and sell to people with no money?

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