74 Going on 50…How Does Dolly Parton Look (and Sound) So Good?
TLDR: Dolly Parton is 74 but has the energy and attitude of someone half her age. As Baby Boomers age, how can start-ups innovate to serve the needs of this massively growing (and immensely wealthy) segment of the population?
A few Sundays ago, after the usual flurry of NFL games had subsided, I was flipping through the channels and landed on Dolly Parton’s Christmas Special. Although I’m generally not a country fan (while Brendan is a super-fan) I was intrigued by the idea of some festive background noise and decided to tune in.
Little did I know I was in for a huge surprise. Dolly was stunning— genuine, heartfelt, appropriately festive, and most shockingly her voice was amazingly crystal clear and strong. I found myself immediately googling her age as it was impossible to tell by looking at her famously surgically-enhanced features. As the search result flashed instantly before me, my jaw almost hit the floor — 74!!! Dolly is the same age (in fact six months older) as President Trump and could easily have been classmates with my grandparents.
It wasn’t just Dolly’s physical appearance that struck me but the energy she brought as she swayed on stage and belted out tracks from her new holiday album, “A Holly Dolly Christmas”. I began to think — how does one age as gracefully as Ms. Parton?
In a recent interview with Oprah Winfrey, Dolly quipped,
“I ain’t never gonna be old because I ain’t got the time to be old”
Is the secret to staying young just a great team of plastic surgeons or is it something less tangible — staying busy, a positive outlook on aging? To me — it certainly seems to be the latter.
As the Baby Boomer generation ages, this is a question that will no doubt be posed by more and more Americans. By 2029 when the last Baby Boomer turns 65, more than 20% of the US population will be over age 65. This population also controls an unprecedented level of wealth — an estimated 70% of US net worth.
There is indeed a burgeoning wave of start-ups aiming to cater to the needs of Boomers and other aging Americans. These companies are addressing everything from financial needs to helping run errands to finding new friends with shared interests.
One company we’ve found particularly compelling is Virginia-based Naborforce, which recently raised $100k in a pre-seed round from Techstars. Like TaskRabbit for older adults — Naborforce’s vetted helpers, called “Nabors” will assist users with a broad swath of errands. These include driving users to doctor appointments, helping with pets, or even replacing a blown lightbulb — tasks often performed by family or neighbors if they happen to live nearby. Not only does Naborforce have a rapidly expanding pool of potential customers, but it is also playing into broader trends of gig-based work — according to Statista the gig economy is estimated to exceed $450B by 2023.
The COVID-19 pandemic has further validated why a platform like NaborForce is essential to the well being of the elderly. The heightened danger of the virus for older and more vulnerable adults likely presented a multitude of opportunities for Nabors to run errands, deliver medications and food, and provide socially-distanced companionship at a time when seniors find it difficult to remain isolated at home.
In order for companies such as Naborforce to take advantage of opportunities among the aging population, they will need funding. Primetime Partners, started by Greycroft co-founder Alan Patricof and Abby Miller Levy, a former SoulCycle executive and co-founder of Thrive Global, is specifically focused on investing in early-stage companies changing the future of how we age. In the coming years, we believe it will be imperative that more capital be deployed to support innovations in elderly care. Not only does it make economic sense, but why wouldn’t we want to help Boomers stay as healthy and active as Ms. Parton?
