Return to the Real World

Everyone seems to be talking about investing in AI.

I'm increasingly excited about investing in what AI makes more valuable.

Don't get me wrong—I use AI every day and believe we're at the beginning of one of the most important technological revolutions in history. I'm excited about it both professionally and personally.

But I think there is another opportunity emerging that deserves just as much attention.

Like many, I assumed the rapid advance of technology would steadily reduce the importance of the physical world. I pictured humanity gradually becoming the Rascal Scooter race of jelly-rolled sub-humans envisioned in Wall-E.

Likewise, the "retail apocalypse" seemed inevitable. Zombies and Demogorgons would eventually be the only ones wandering America's malls.

Similarly, after COVID, many believed work-from-home would become permanent and downtown office towers would be converted into pickle ball courts and vertical growing facilities at best.

Yet what I'm seeing feels very different.

Far from disappearing, experience-oriented businesses continue to show remarkable strength:

• Travel: projected 3–5% annual growth

• Experiential luxury: 7–9% CAGR

• Live entertainment: 8–10% CAGR

• Sports: 6–8% CAGR

• Hospitality: 6–7% CAGR

The list goes on.  And the observations are just as interesting.

For my son's 18th birthday, he wanted to visit a retail store in SoHo. Not a restaurant. Not a concert. A store. We waited nearly forty minutes just to get inside because it wasn't simply a place to buy something—it was a carefully curated experience.

My two older sons, both in their twenties, work in offices five days a week. They could do much of their work from a laptop anywhere. They simply don't want to. Human interaction gives them energy. Collaboration matters. Being around other people matters.

Walk through Irvine Spectrum or Westfield Century City on a Friday night and, instead of zombies, you'll find crowds of young people choosing to spend their time together in the real world.

I don't think this is happening despite AI.

I think it's happening because of it.

The more technology improves our digital lives, the more valuable exceptional real-world experiences become.

Memories, emotion, community, laughter, and direct sensory engagement aren't luxuries. They're fundamental human needs. And in an increasingly digital world, they may be becoming even more valuable.

Creating meaningful consumer experiences has been a throughline of my career. So while many are understandably chasing the AI opportunity, I'm equally excited about investing in the other side of the same coin—businesses that create experiences technology can never fully replace.

We're fortunate to be working on several projects at Objective Motion that sit squarely at this intersection, and I'll be sharing more about them here in the coming weeks.

Making people feel something in the most ancient of ways isn't just good for humanity.

It may turn out to be one of the best businesses of the AI era.