Still other delegates voiced concern that global tax policy is still crafted in outdated, undemocratic structures led by a handful of wealthy nations. Some also questioned the broader wisdom of entering into marriages with the private sector in an effort to finance sustainable development. Throughout the day’s three panel discussions - which focused, respectively, on the roles of domestic public resources, private business and international development cooperation in financing sustainable development - speakers repeatedly sounded alarm over the impact of such tax incentives on their countries’ resource bases. As a result, we are likely to see a lot of technology innovation in the fitness and gym industry as well as a great deal of capital coming into the industry.Describing a “race to the bottom” in which multinational corporations enjoy lower and lower tax rates around the globe, delegates at the Economic and Social Council’s forum on financing for development follow-up today stressed that such practices are slicing deep into the funds countries need to achieve the Sustainable Development Goals by their 2030 deadline. Companies that don’t have the resources to grow now may miss the trend. Their investors will be able to exit at very attractive multiples. No one knows how long this trend will last and companies that can embed their technology into consumer habits and gain share will become highly valuable. That means timing is important now in the fitness business. She says the market now is in a land-grab mode, companies that can get on a path to gather consumer data and sell their technology profitably will be highly valuable in the future. Karmitz points out that having Google enter the industry proves that big tech companies want to be players in the industry, won’t be afraid to invest big money and will push valuations up. Karmitz says that data gathering is one of the economic drivers of new technology in fitness and gyms as we are already seeing in the acquisition of Fitbit by Google and that there will be more such deals. Whether gyms and studios can keep up with the desire for new technology will determine their future success. Consumers interest in new fitness technology coupled with the continued desire for gyms is clearly how consumers want to manage their own fitness. These technology-driven businesses are the kind of companies that are now driving the fitness business. The video below demonstrates.Īthlete's guide workout Photo credit Busta Anderson It is designed to be played either against the computer or against other people who can be either nearby or anywhere else in the world. Like other video games, it is always changing and evolving based on your skill. If you love playing video games but are not highly motivated to work out in a gym, this will bring you in and keep you there. Because of the weights a user gets a complete workout by the time a game is over. As the user moves, the weights are lifted. A video game begins in which there’s no hand-held controller, the user’s body movements control the game. A user in a gym puts on a virtual reality headset and attaches to weights made for the purpose. But if you’re under 40, it will be one of the most interesting, exciting things you’ve ever seen. If you’re over 40, Black Box VR will not be very interesting. Two companies are changing the way gyms are experienced.
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