😴 A Bad Night's Sleep = A Trillion Dollars!
Can't sleep? Your sleeplessness is costing the world over a trillion. (Reading Time: 3 mins)
According to the infamous Indian saying, we humans only have three basic needs: "Roti, kapda, aur makaan" (Food, clothing, and shelter).
But this list ignores a very important need: Sleep.
Yes, the current hustle trend really ignores the importance of proper sleep and rest.
After all, that's what our society now believes is the sign of a successful person.
Billionaires like Marissa Meyer, Jack Dorsey and many others have claimed that they get by on just 4-6 hours of sleep. 45% of people across the globe, and 93% Indians are currently sleep deprived.
In fact, India is the second most sleep-deprived country after Japan, despite most Indians opting for afternoon naps.
And so, this Sleep Awareness Week (yes, that's a thing), we thought we should shine a light on this topic.
Why We Should Care About Sleep?
A good night's sleep is priceless.
But do you know that our bad night's sleep is costing the world almost a trillion dollars each year!
Yes, almost 11% of people take leaves due to lack of sleep and 58% of people's productivity suffers due to sleeplessness.
The cost of this lack of productivity: $680 billion for just the top 5 OECD countries.
Even if you don't care about money and productivity, you should still be sleeping as getting less than 5 hours of sleep can decrease your precious lifespan by 15%.
Plus, you are putting yourself at risk of developing chronic diseases like Alzheimer's, hypertension, and Type 2 diabetes.
Okay, ReadOn, this is all well said and done. But what to do if stress, or work, or just life in general doesn't allow us to have a proper well-rested sleep?
Don't you worry. After years of minting money from creating tech that keeps us up at night (video games, social media, and OTT platforms), tech companies and startups are now looking to solve the sleep problem. (Tweet this)
And investors are betting big on sleep tech. Last year, over $747 million was invested in such sleep tech startups.
The global market for sleep aids is set to be worth $101 billion by 2023!
But how exactly are startups trying to solve the sleep issue?
Well, there are three kinds of startups in the space.
The first kind focuses on the sleeping environment: this includes mattresses and pillows that are made specifically to help you sleep better.Â
This is for those of us who wake up in the middle of the night with multiple aches and pains.
Many Indian startups like Sleepsia, Wakefit, Cuddl are working on developing tech that can identify the best sleeping positions and design mattresses and pillows accordingly to solve problems like neck pain.
An American startup Eight Sleep has also designed a mattress that cools or heats at night depending on your body temperature.
This segment also features a range of lamps and light bulbs that change the lighting according to the time of the day.Â
The second kind of startup includes: wearables and meditation apps. The wearables help you track your sleep cycle and sleep behaviour in order to help you form a better sleep routine. The data that they collect can also help researchers better understand sleep disorders and help cure major problems. Many major companies like Apple and Fitbit are betting big money on this.
On the other hand, meditation apps like Calm and Neend are trying to make you less stressed, forget work, and induce better sleep by calming you down.
The third kind of startups are working on a more direct way to induce sleep: through over-the-counter nutraceuticals like CBD gummies and melatonin.
But so far, none of these methods have been foolproof. Some work for a few, some have failed to provide results at all, and others solve some sleep issues but not all.
So, what's the solution?
Well, for starters, a less-stressed work environment and lower workload could be a major help.
So, many people either stay up at night because they are finishing work or because that is the only time they get to do things they truly enjoy.
Many companies are now working on solving this problem. Some have also introduced meditation zones and nap booths so that employees can get that much-needed break in the middle of the work day.
While these are steps in the right direction, they are too minor to actually make a difference.
To truly correct our sleep cycles and pay off our sleep debts, our work culture needs to change immensely.
Let us know your thoughts about this sleeplessness epidemic and whether or not you have been getting a good night's sleep!
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