Dara Albright, President, Dara Albright Media met with Julie Cooling, Founder & CEO, RIA Channel to weigh in on what crypto could mean to the next generation of investors, and how media and innovation have pushed economic growth forward.
Albright, like many crypto optimists, worked around internet IPO’s in the 90’s. “I had the opportunity and privilege to work for some of the icons in the new issue market,” says Albright. The “front row seat” to the internet’s roll out forever made its mark on her.
But it wasn’t until the emergence of social media, that Albright entered the mass communications space. “I was obsessed with Facebook,” she recounts. For the first time, social media connected users to ideas and content from within their network as opposed to just a third party. Going back to radio in the twenties, Albright believes that technology and innovation have ultimately been the driving force behind economic and market growth.
With today’s lingering remnants of the great recession, lack of IPOs, and hefty banking regulations, there’s sometimes a disconnect between the “people’s cap” and economic growth. Albright makes the argument that for social media to truly translate into growth, we need a better infrastructure.
Crypto is definitely on Albright’s watchlist. “Crypto is going to completely displace equities as an asset class,” she predicts. The bold statement comes in response to current cultural trends surrounding “sharing versus owning,” and millennial views on investing. However, she acknowledges that we have a long way to go before reaching that point. With any budding technology, there are certainly some bad eggs in the ICO market. Albright sees a staunch distinction between valid issuers in an unregulated space and scammers. Applauding the recent SEC regulations and the power of “crowd policing,” she hopes that over time the crypto vehicle will be validated.
Speaking on the evolving advisor client relationship, Albright encourages advisors to really embrace technology within their business model. Those that don’t find a way to incorporate it, may find themselves obsolete, Albright believes. In order to thrive in the changing landscape, advisors must think about what drives the next generation.
To learn more about Dara Albright’s insights, head to DaraAlbrightMedia.com