computers, broadband, and social networking

Information is online – people need to be there too.  News, bank branches, health advice, streaming radio, borrowing books from libraries– it’s all making inroads in our connected lives.  Consider: Netflix has 42 million US subscribers, half of Americans have listened to Internet radio. But what is the significance of fewer people having broadband access in their homes? Broadband access has a correlation between well-being and wellness (hats off to that Health Populi post!).  Is it the link between being over 50 and finding a job? Perhaps you are checking online to protect from Internet fraud; verifying that an identity hasn’t been stolen; checking out an eBook or using another online service from a library; including training on how to use the Internet. Or perhaps you are buying from the dominant US retail growth engine – hint, it's not Walmart, but Amazon.

A look back to look forward.  Consider the context for 2016 innovation, despite (or as a result of) a still-erratic economy, and smaller-cheaper-better base technologies. At the same time, the assisted living industry watches residential age climbing – over half now are 85+. So the desire (or perhaps the only option) to age at home has further intensified. That has created opportunities like the AARP and Leading Age funds; research initiatives like Baycrest and Philips AgingWell; and startup pitch events like Louisville Innovation Summit, or Aging 2.0. Based on looking back at 2015, here then are five categories of trends for 2016:

2015 was an intriguing year for technology and aging. The market opportunity has become more apparent, as the oldest boomers reached aged 69.  Just for instance: there were multiple age-related fund launches; home care with tech underpinnings began to attract the lemming-like VCs; PERS offerings began to be integrated; speaking to devices (not typing) became increasingly possible; smartphones became tablet alternatives; senior housing organizations attempted re-branding of their offerings, likely to better match boomerdom. As we get closer to 2016 and summarizing key forward-looking trends, consider blog posts from 2015.

When firms collapse noisily, peers notice.  Last week several firms commented (anonymously and by name) on the failure of Lively, a sensor-based home monitoring hub that tried too late to pivot into the PERS industry. Why do startups fail, anyway?  In this industry, it appears more often than not that the founders believed they were different from the other players in the market (Lifecomm or AtGuardianAngel); that consumers would shop in BestBuy for an unfamiliar category (Wellcore); that a celebrity would make a big difference (Floh Club).

Optimistic boomers think future technology will be a piece of cake.  Asked to picture the future, boomers think they will be different from their parents who resisted new technologies.  Even Best buy agrees that this is a boomer-senior problem – that the next generation won’t need genius bars or geek squads. Even boomers insist that their tech-savviness today will serve them well in 20-25 years – they will accommodate whatever ‘innovations’ Silicon Valley designers, all still 20-somethings, will foist on them. Boomers see the unknown tech future as something they can and want to deal with, the way they mastered (sort of) home network setup, Facebook, YouTube, Twitter, Skype, and Instagram. And they will want to deal with it, because, well, they are boomers.