trends

The Market is Always Right

Humans, however, are often wrong, especially when it comes to understanding and engaging markets, so where does that leave us? Torn between two lovers, that's where. On the one hand, we have an almost irrepressible need to control our collective and individual destinies, and on the other, we love to embrace the fact that life is chaotic and provides us few if any assurances. Add in millions of years of genetic programming to ensure a reasonable expectation of survival, and the end result is something that looks very much like the adult entertainment industry. Ta Da!

I always am reminded of this internal duplicity in our nature around this time of year, as I post-facto evaluate the annual two-month round of trade shows, Las Vegas AEE and Internext in January and the XBIZ Conference in February, which kind of set the stage for the coming year. I say kind of because the stage actually was set long ago, maybe even more than a year ago; we are living with the detritus of decisions already made. This is increasingly my philosophy of life as it is actually lived; that more often than we care to realize, we are walking, talking time capsules living out pre-ordained actions that we have made for ourselves or allowed others to make for us. While I readily admit that there is nothing surprising or revolutionary in this observation, I do also believe it needs to be re-realized on a regular basis or else we are doomed to forget that it is so.

When we forget that life is a process, we all but guarantee that our current decision-making will be based on illusion rather than reality and thus seriously flawed. In such a demented state of mind, we tend to make assertions that are equally demented, and if we happen to be sitting on a seminar panel, we are instantly complicit in helping create a false and demented vision of whatever we are talking about. Obviously, this can done wittingly or unwittingly, but for the interested observer, who might be making business decisions based on these demented observations, the difference is difficult if not impossible to ascertain and practically besides the point. The damage is already done.

Having facilitated, moderated and participated in dozens of industry seminars and workshops over the past decade, I have few illusions about the tension that exists between the seminar speaker's desire to create his/her own reality on that panel, for that audience, and the larger goal of creating an accurate picture, a realistic assessment, of the sector of business or issue under discussion. I can maybe count on one hand the seminars that have fulfilled my own expectations going in, which are always large. When that happened, though, my satisfaction is not for myself but for the audience, which, if they are paying attention, can learn something of tangible value. This is my definition of seminar bliss.

So what does any of this have to do with the title of this column? Not much, I guess, except that one of our worst traits is the proclivity to confuse our selves with the market, and in doing so actually convince ourselves that we can outsmart it. This is demented thinking, and what we are living through now is proof of the awesome damage it can do. It is a wise man who is humbled before the collective power of his own humanity, and an even wiser industry, for in doing so they at least have created a fighting chance to harness that power to their benefit.

Related:  

Copyright © 2024 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More Articles

opinion

Why Cyber Insurance Is Crucial for Adult Businesses

From streaming services and interactive platforms to ecommerce and virtual reality experiences, the adult industry has long stood at the forefront of online innovation. However, the same technology-forward approach that has enabled adult businesses to deliver unique and personalized content to consumers worldwide also exposes them to myriad risks.

Corey D. Silverstein ·
opinion

Best Practices for Payment Gateway Security

Securing digital payment transactions is critical for all businesses, but especially those in high-risk industries. Payment gateways are a core component of the digital payment ecosystem, and therefore must follow best practices to keep customer data safe.

Jonathan Corona ·
opinion

Ready for New Visa Acquirer Changes?

Next spring, Visa will roll out the U.S. version of its new Visa Acquirer Monitoring Program (VAMP), which goes into effect April 1, 2025. This follows Visa Europe, which rolled out VAMP back in June. VAMP charts a new path for acquirers to manage fraud and chargeback ratios.

Cathy Beardsley ·
opinion

How to Halt Hackers as Fraud Attacks Rise

For hackers, it’s often a game of trial and error. Bad actors will perform enumeration and account testing, repeating the same test on a system to look for vulnerabilities — and if you are not equipped with the proper tools, your merchant account could be the next target.

Cathy Beardsley ·
profile

VerifyMy Seeks to Provide Frictionless Online Safety, Compliance Solutions

Before founding VerifyMy, Ryan Shaw was simply looking for an age verification solution for his previous business. The ones he found, however, were too expensive, too difficult to integrate with, or failed to take into account the needs of either the businesses implementing them or the end users who would be required to interact with them.

Alejandro Freixes ·
opinion

How Adult Website Operators Can Cash in on the 'Interchange' Class Action

The Payment Card Interchange Fee Settlement resulted from a landmark antitrust lawsuit involving Visa, Mastercard and several major banks. The case centered around the interchange fees charged to merchants for processing credit and debit card transactions. These fees are set by card networks and are paid by merchants to the banks that issue the cards.

Jonathan Corona ·
opinion

It's Time to Rock the Vote and Make Your Voice Heard

When I worked to defeat California’s Proposition 60 in 2016, our opposition campaign was outspent nearly 10 to 1. Nevertheless, our community came together and garnered enough support and awareness to defeat that harmful, misguided piece of proposed legislation — by more than a million votes.

Siouxsie Q ·
opinion

Staying Compliant to Avoid the Takedown Shakedown

Dealing with complaints is an everyday part of doing business — and a crucial one, since not dealing with them properly can haunt your business in multiple ways. Card brand regulations require every merchant doing business online to have in place a complaint process for reporting content that may be illegal or that violates the card brand rules.

Cathy Beardsley ·
profile

WIA Profile: Patricia Ucros

Born in Bogota, Colombia, Ucros graduated from college with a degree in education. She spent three years teaching third grade, which she enjoyed a lot, before heeding her father’s advice and moving to South Florida.

Women In Adult ·
opinion

Creating Payment Redundancies to Maximize Payout Uptime

During the global CrowdStrike outage that took place toward the end of July, a flawed software update brought air travel and electronic commerce to a grinding halt worldwide. This dramatically underscores the importance of having a backup plan in place for critical infrastructure.

Jonathan Corona ·
Show More