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Saturday, April 04, 2009

Alternative Online Heritage

I was made aware of the existence of VitalLock by Bob Stewart as a comment to my post on "Legacy Locker". That's Bob giving his "This is VitalLock" presentation in the lower right-hand corner of the screenshot. It turns out that Bob is the founder of VitalLock, so of course I'm impressed that he left a comment on my blog. Come to think of it, it's like he sought out my post on a competitor to tell me that there were other players in this soon-to-emerge market for online bequeathing of wealth. Or should I say bequeathing of online wealth? Hmm...

The word "Vital" that is the first part of the name of this service, is an acronym for "Video, Image, Text, Audio, Link [VITAL] and more..." When talking about its target market, its potential clientele as it were, the website makes the following statement: "[The] baby boomers are the single largest economic group in the US and control 70% of the total net worth of American households - $7 trillion of wealth." That's quite a startling fact, which also means that there's that much money waiting to be tapped in potential business opportunities like this.

So, this is the second post about a service that lets you pass on your legacy -- read possessions and wealth -- to your family and/or friends in the event that you pass away. On the surface of things, this seems to be like a newly emerging market where we'll see a lot of competition to help people write up their online wills for their online persona so that others may inherit what they amassed.

Hey, it doesn't have to be all money either, right? It could be a randomly ranting blog like this one too...God forbid! ;-)

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