Sex, Drugs and Rock ‘n’ Roll Creating Big Tech Companies

How sex, drugs and rock ‘n’ roll are creating the next big tech companies

Big Tech: “It has been my experience that folks who have no vices have very few virtues.” – Abraham Lincoln Fifty years ago, when someone heard the word ‘vice,’ they may have thought about the seven deadly sins: envy, wrath, lust, pride, sloth, pride and gluttony. Twenty years ago, they may have thought of the genre-defining television show Miami Vice . Today, you might think about the $4 billion millennial media outlet, Vice Media . But what you should be thinking about is how vice-related companies are quickly evolving to be the next unicorns, i.e. the next Airbnb or SnapChat (combined value: $41.5 billion ). Vice technology, or ViceTech, is turning sex, drugs, and rock ‘n’ roll into viable, trustworthy companies that power some of our culture’s most loved products and experiences. This newfound accessibility for consumers and businesses is erasing past taboos and, in return, is allowing people to have more fun, and that’s driving more vice companies to launch, grow, and get noticed by the investor community. Let’s do the math: PlentyofFish, an online dating site, sold to Match for $575 million . WeedMaps, a cannabis dispensary directory, is valued at $300 million . And Ticketfly, a live-music ticket seller, recently sold for $450 million to Pandora. Just to name a few. ViceTech has a market opportunity of more than $341.8 billion in the United States alone when you look at just the sex (dating, sex), drugs (alcohol, cannabis, tobacco), and rock ‘n’ roll (music) subsets. Throw in gambling and lottery and it adds another $110 billion to the market with unicorns like DraftKings and FanDuel, which are both valued at over $1 billion in less than six years, and Amaya Gaming that bought PokerStars and Full Tilt Poker for $4.8 billion. Even more importantly, ViceTech companies are gathering […]

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