» Technology I also think some of the technolo-


gies measuring sleep are exciting. I like the idea of being able to measure sleep, because then it is possible to say, “Well, I could put darker curtains up or may- be I should choose not to have a drink an hour before I go to bed.” My inter- ests tend to be around things where I can imagine myself making day-to- day changes as a result of the data.


CM: Do you think that at some stage


we’re going to develop technology fatigue? KS: We’re seeing this fatigue already


in social media. There are dehuman- izing effects when technologies try to replace real human interaction or hu- man relationships. I’m a little skeptical about these technologies, because real human interactions and contacts are inherent to who we are as people. I be- lieve there will be a backlash if people find themselves isolated and dehu- manized as a result. The other aspect is cognitive over-


load. As more technologies enter our daily lives, they all compete for our at- tention, and for our cognitive capabili- ties, which are limited.


CM: There is so much excitement


around technologies targeting older adults that it has given rise to a tech- nology gold rush. Yet, is it fair to say that we have seen relatively few suc- cess stories to date? KS: I would say that, so far, the im-


pact rate of all the activity going on around technology and aging has not been that high. There haven’t been many great success stories for a couple of reasons. One reason is that we’re trying to develop these technologies while we’re figuring out what an “ag- ing market” means. We know there is a large, growing demographic that has needs and desires and money, which people are seeing as a business oppor- tunity—and that is a really good thing. Yet, we are still lumping this market together. There are different markets here. These markets are driven by the needs and desires of people, not by age. So not only do we see efforts to find technology solutions but also efforts to figure out how this market breaks out and where the business models are. Secondarily, I hope that we are de-


veloping better funding models at the same time. The current model of ven- ture capitalism does not necessarily


18 Fitness Business Canada Fall 2018


“I think that the future will look more human than technology looks today. We have these visions of the future that tend to have lots of robots and machines, but my real hope is that when we get better at technol- ogies they will slide into the background and we will focus on the interaction between people.”


mesh well with needs in the aging space because it tends to push for the development of digital apps that have a bigger payback with lower capital costs. It is hard to develop the invest- ment, payback and business models at the same time as the technology. I do see some potential in social-impact in- vesting changing how we view some of this.


CM: Business 101: Understand who


your customer is. But one thing we have heard a lot is that the subscription model for these new technologies is not what the buyer seeks. KS: Many of these tech organizations


build themselves around the subscrip- tion model because of investors. Their investors want to hear about sustain- able cash flow even though it might not be compatible with this market.


CM: Where do you see smart


technologies heading? KS: We seem to be reaching the


stage where people are saying, “I don’t want more things pushed at me. I want


to have my own ‘real’ relationships, not ones chosen by algorithms.” Some people make claims such as


“the algorithm will know you bet- ter than you know yourself.” I am not sure I buy that. People change, and they have rich, complex things that they want in their lives. I think people will get sick of something telling them what they should see and what they should do by pushing a vision on them rather than letting them develop it themselves.


CM: What advice would you give


entrepreneurs who want to develop a technology product for the older market? KS: Entrepreneurs should speak


with a lot of people. Ask questions to validate assumptions before spend- ing a lot of money and time build- ing something that might only have a market of one. The second piece of advice is to keep an open mind since many companies end up doing some- thing different based on the feedback they get.


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