Cents For Sense Blog | Which Technological Business Ideas That We Now Love Were Scoffed At To Begin With? | TalkMarkets
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Which Technological Business Ideas That We Now Love Were Scoffed At To Begin With?

Date: Saturday, January 29, 2022 12:06 PM EDT

Artificial Intelligence, Network, Programming, Web


Tech is now something that we all use in daily life and which is central to how we operate. Be it work or personal life, technology enables us to get more done and in a much more convenient way. The major thing which underpins this is the range of tech devices, tech inventions and tech-based businesses which modern living has brought us.

In terms of tech-based businesses, you might be surprised to learn that some of the ideas behind them were scoffed at to begin with. But what are some of the best examples of this?

 

Online casinos 

There is no doubt that the online casino sector is booming right now and has been growing at a decent rate for the last decade or so. The sector was worth around $59bn at the end of 2021 and is predicted to be worth over $90bn by 2023. When the first iGaming platforms were launched though, this stellar rise did not seem possible – indeed, many people initially dismissed the idea of playing games like slots or poker virtually. This was largely due to the dominance of land-based casinos at the time, in addition to other factors such as the reduced role online activities had in our daily lives.

Over time though, this has all changed and led to people feeling comfortable enough to game online. Of course, the online casino gaming industry itself has also worked hard to overcome people’s initial fears. From extensive marketing campaigns to platforms offering lots of games and cool bonuses, it has all helped. The no deposit bonus offered by online casinos is a great example of this and shows the extras that iGaming sites offer to attract players.

 

Online room sharing/holiday rental 

Another tech-based business idea which now enjoys massive popularity is online home/room sharing booking. This basically enables people to rent out their home or spare rooms via the internet and allows others to find cheap places to stay online. When this was first floated as a tech-based business idea though, it did not go over too well. The public seemed wary of what it involved and failed to understand why you would book a room in this way rather than stay at a normal hotel. A good example of this is the low interest Airbnb experienced initially.

Founded by Joe Gebbia, Brian Chesky and Nathan Blecharczyk, the history of Airbnb is very interesting. The first launch of the company in 2007 was a total flop. Even when they did launch again in 2008, they only had a handful of customers. Seeking investment from venture capitalists, the founders of Airbnb turned to 15 investors for help in 2008. Out of this 15, seven rejected them and eight ignored them entirely. Eventually though, investors like Paul Graham at Y Combinator saw the potential and people began to realize what a brilliant solution this online way of renting/finding accommodation offered.

 

Online shopping

 E-commerce is something akin to online casino play – an activity the majority of people now love to do and a multi-billion per year industry. Sites like eBay, Amazon and Alibaba pull in huge amounts of revenue each year and most shops now enable you to order goods online directly from them. Such is the omnipresence of online shopping and the convenience it offers that it makes it hard to think of a time before it. It certainly beats trekking from shop to shop in person and having to choose from whatever limited selection they might have available.

However, shopping for goods online was not universally accepted by the public when it first appeared. Many people simply did not get why you would order items online and did not feel comfortable using the internet to do this. As people have started to see the benefits of shopping in this way though and mobile phones have made it easier than ever, e-commerce has taken off. This can be seen in how Amazon has grown from a small book seller in 1994 to the global shopping behemoth it is now.

 

Tech-business ideas not always a hit initially

 While new ideas will always meet resistance at first, the best will always succeed. The growth of the alternative meat market is a good example of this, as are the tech-based business ideas above.  It seems unbelievable that online shopping, online casino play and online room sharing were once dismissed – but it is true. Over time though, people have become more tech-savvy, which has allowed these kinds of ideas to flourish. When you also add in the benefits each delivers to customers, it is clear to see why they overcome the initial indifference to them.

Image Source: Pixabay

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