In which industry should emerging businesses ripe in order to become aggregators for the world?
Answer: Human inner wellbeing.
Aggregation theory coined by ben Thompson, describes how platforms (i.e. aggregators) thrive flourishingly in a very competitive market. The theory serves as a guidebook for aspiring platform oriented startups with certain warnings and regulations.
Here is my list of non-aggregator companies which shall embark smoothly in the economy as well as public welfare landscape in the upcoming years:
1. Applications like Slack, Zapier, ProductHunt, Medium, Quora or duckduckgo, (if Facebook is a super aggregator, this implies Quora to be an emerging aggregator), online MOOC’s, etc.
2. Organizations like - Isha Foundation - http://bit.ly/2m9Djvb || http://isha.sadhguru.org , The School of Life - http://www.thebookoflife.org || https://www.theschooloflife.com || http://bit.ly/1UlwttX and VaynerMedia - https://vaynermedia.com || http://bit.ly/2m9Jtvb
This article solely focuses on three suppliers – which is Isha Foundation(by Sadhguru), The School of Life (TSOL – by alain de botton) and VaynerMedia (by Gary Vaynerchuck).
The aggregation theory channelizes three traits which aggregators must have:
1. Direct relationship with users.
2. Zero marginal costs for serving users.
3. Demand-driven Multi-sided Networks with Decreasing Acquisition Costs
Now the companies like The school of Life, Isha Foundation, Vaynermedia does not have these three traits in a robust manner, this makes the three companies partial aggregators as the only cost they incur initially is through their YouTube channels. Later they can funnel users down to their advanced programs depending on the consumers’ willingness and to which scale the companies/brand’s identity has impacted on one’s perception. But also, these are the companies which shall flourish regardless of existence of the aggregation theory. As there is abundance of supply to quench the curiosity of the users, TSOL, Isha Foundation and Vaynermedia does it flawlessly by delivering the answers to almost every questions (Which even Quora fails to deliver). Ex: Sadhguru (Isha Foundation) has hooked millions of people for not just years, but decades; out of which any person who has listened to atleast one video of Sadhguru for 365 days is guaranteed to enrol to the basic inner engineering (IE) programme. The IE programme is designed in such a way that shifts every person enrolled, to a deeper dimension of inner inclusiveness. And then the user inevitably gets reincarnated to be a supplier – all willingly. Isha programmes makes a user jump and look beyond the wall, once the user experientially (through Shoonya, Hatha Yoga, Samyama, etc) see beyond his/her limitations, the user intuitively recognizes that he/she must cross the wall one day to experience what is on the other side. There still always will be tons of questions arising to a human mind, and Sadhguru (Isha Foundation) supplies answers to all those unending questions, unfailingly. To compete to Isha Foundation, TSOL, VaynerMedia is a sheer waste of time, rather being a part of one of them and making necessary needed modifications will prove to be a valid move. Why transfuse energies building an entirely new model (startup) if one can just add on/append/contribute to the current existing schema? Why not elevate already existing businesses, rather than fabricating a competitive startup? Yes, we have startups because once we wanted to elevate the already existing business but were not able to make necessary alterations due to numerous variables like hierarchical decisions, ideologies, etc. and hence the emergence of startup epidemic. For Isha Foundation, TSOL, VaynerMedia to be solid aggregators they need to have extended businesses (like Apple has App Store, Google has the Google Play Store), and here is what makes aggregation theory not the only ‘factor’ for a business to dominate the globe. Also, this is a valid time for online universities like Udacity, Coursera, etc. to be a solid aggregator. Online universities almost own user relationships by engaging free variegated courses, incurs zero marginal cost in serving that user, has a widespread network across the globe continually improving the course content (supply) in response to users (demand). MOOC’s still will take a decade to establish themselves as total-aggregators. What Sadhguru and Alain de botton is doing is no less than lady gaga or Beyonce. And this is why there is immense need for yogi’s and psychiatrists to learn influencing from Rockstars. Similarly students are preferring GaryVee vlogs over going to a business school, and online universities over established colleges.
The aggregation theory also classifies aggregators into five levels:
- Level 1 aggregators: Supply Acquisition. (Ex: Netflix )
- Level 2 aggregators: Supply Transaction Costs. (Ex: Uber)
- Level 3 aggregators: Zero Supply Costs (Ex: Google, app stores and other social networks)
- The Super Aggregators (The only two examples are Facebook and Google)
- A cellular network company.
Now, Isha Foundation, VaynerMedia and TSOL fails to come under the first four aggregator classification level, but these companies will remain established for similar years as the top aggregators, and refabricate its consumers – providing them a full-fledged life, a user experience beyond physical, logical and psychological level. It is time we rethink the aggregation theory by – Is reaching (dominating) zillions essential or reaching with righteousness is?
The more free eloquent speeches of Sadhguru gets uploaded on their YouTube channel, the more its value grows to potential watchers, all iterating exponentially. Isha Foundation is able to ‘reach and touch’ a segment of buyer funnel which established aggregators like Facebook/Instagram, Netflix, Airbnb, Uber, etc. are yet not able to reach. Is this the NGO/NPO epidemic? Certainly not. Because, there are tons of welfare NGO’s, Yoga and fitness companies across the globe which has definitely reached people, but not touched their inner dimensions.
This is where companies like Isha - so inclusive, wins over - all the established aggregators. This is why all these three companies will be non-aggregators (as still not global) yet ninja-portals for mortals, often from day one because the supply is truly dedicated to emotional wellbeing. The reason why companies dwelling on fixating emotional intelligence, Psychotherapy and yoga (as technology) will flourish massively because of – ‘the only need’ which every single human being is struggling for. Tremendous amount of money and time is invested to build android apps which at the end still fails to bring the human experience closer to inner deep dimensions of life. The world does not need another VR apps, another Snapchat or any other app like existing ones with just appended features to it. The world seeks technology that serves and uplifts human intelligence, wellbeing and make it a full-fledged life.
The social platforms like Instagram, Snapchat, and several others are lining to dangers of commoditisation, and for power shift to happen in such platforms, they must get inclusive (the shift from user centric to user-wellbeing).
Aggregation theory also has regulations for super aggregators (Facebook and Google) – like not forcing/triggering the super aggregators to make editorial decisions as they already have rooted businesses as any major change will affect globally. This is where the largest incumbents will in all times be the biggest beneficiaries.
Previously, yoga teachers taught lessons, but without the art of eloquence, why does sadhguru appear so magnetic? Solely because of the power of eloquence and getting life right. Making bliss directly accessible via inner engineering, making psychiatric treatment directly accessible with sadhguru’s youtube channel. Similarly alain de botton made elementary psychotherapy directly accessible via TSOL’s youtube channel. Previously there was just too much talk about philosophy, but with organizations like TSOL and Isha Foundation, integrated it with a tool – i.e. they introduced yoga and psychotherapy as technology, broke the taboo w.r.t the mental illness and above all – made psychology much more fascinating yet lucid than ever before.
Aggregation theory won’t work upto the mark in human wellbeing industry, as it solely depends on supplying to the consumers. The users will take time to be suppliers, until wellness itself becomes a ritual for them and they gradually tune in to be suppliers. Just like in facebook and Google its suppliers are its users; but in companies like TOSL, Isha foundation and Vaynermedia – it is hard to embed aggregation theory in it.
There is also an immense need of collaborations between organizations and companies like Isha, TSOL and Vaynermedia. Ever wondered how Gary Vaynerchuck vlogs can be the next big hit, if and only if Vaynermedia collaborates with Isha Foundation? Ever wondered how TSOL and Isha if brought together, both extracting each other’s special ‘features/services’, entirely change the course of human emotional wellbeing? These collaborations between large incumbents can not only foster wellbeing but open new horizons to human life itself. This also implies that a bunch of hatha yoga teachers if imported to headquarters of Facebook, Google, Aribnb, Uber, Netflix, etc. can change the course of application experience.
Youth always has been impetus to all the protests in past, whether it by roasting the protest cause and victims through memes or coming up with abounding mockery in YouTube videos. There are numerous brand agencies, strategists and companies all across the web and globe which have spent billions on making a business, running it and still not reaped notable upshot. But, aligning emotional inclusiveness in the nucleus of company framework would help to reform lives and the country. Let the suppliers so pragmatically valid and revolutionizing not be marred by theories like aggregation theory. With ubiquitous clichéd applications and services, companies have failed several basic manifestos related to the mental health and overall wellbeing.
TSOL, Isha Foundation and Vaynermedia has digitized empathy, therapy and full-fledged wellness. These 3 companies have nailed the user experience in a much more profound way that temporary ‘feedback loops' of facebook, snapchat and Instagram and other incumbents have been sorely lacking(or some have not addressed it yet).
According to aggregation theory the company will thrive winner-take-all effects if it is able to form a virtuous cycle of more users leading to further increased utilization of more suppliers/users. This brings us to the question, can companies like TSOL, Isha Foundation and Vaynermedia ever thrive on winner-take-all effect? Does establishing an aggregator company and generating revenue even matter if the fundamental human wellbeing is not addressed? Do we need more companies like Snapchat, Instagram or inclusive suppliers like TSOL, Isha Foundation, Vaynermedia, MOOC universities?
The critical differentiator for TSOL and isha foundation is the full-fledged wellbeing of human life itself. With the free access tools over YouTube and their android applications, both the companies have well digitized the welfare spectrum.
Super aggregators like Facebook and Google gives a significant advantage to new entrants built around the proper incentives and lets them flourish together in a chain. With this proposition, can increase in number of Super Aggregators will itself be a major danger of commoditisation? That is another article for some other day. The ultimate shift is caused by the Internet, but aggregation theory is not the only means. There are a lot of more parameters to it.
There are a lot of emerging healthcare product based Startups - A mobile and internet application that brings transparency in medical testing and creates a level playing field in laboratory testing. Search for a test online or on the app, and you’ll get a list of labs that conduct the test along with prices and an option to book the test at special rates.
Now, if we go to the crux of all the existing and emerging health care startups and wellness companies, they are striving towards fixing human health dilemma. Why it did not appear to those companies to embrace yoga as technology, collaborate with foundations like isha, etc. if they were interested in wellness. But the major problem with a lot of computer engineers, app makers is having a quick fix of the hurdle through technology. It is time that all who are engineering products look inward and go to the roots first – which is inner engineering. In Rick’s parallel universe there must be a earth, where people will go to hospitals only for major injuries, where chronic disease department cease to exist just because every person is a yogi(inclusive – one who has engineered himself inwardly).
Suppliers which have emotional intelligence in crux, allow action to multiply powerfully across the well-being landscape and eventually becomes indispensable ingredient to sustainable headway. ‘Emerging’ aggregators will gradually decay not because of iteration of a stagnant middling approach but because of the lack of serving mental health. Similarly, suppliers which are so emotionally inclusive ceases to stay submerged no matter what a theory dictates The badge to global well-being is not the kingdom of aggregators alone, but instead these sublime, emotionally intelligent diminutive companies/brands and organizations.