Spec - Speculation

Speculation

• Speculation in the broadest sense of that word—hypothetical thinking, prediction
  • Speculation in the economic and financial sense—investing or spending resources with the hope/prediction of future returns
    • Work done "on speculation" ("on spec"), meaning that the person or company that did the work did so at their own expense, with the hope that the demonstrable results would spur sales, convincing customers to pay for future such work
      • Real estate speculation, buying real estate on the speculation that its value will rise
      • Speculative construction, building structures on the speculation that they will find willing buyers (or tenants) once complete
      • spec script, a script written by an aspiring screenwriter to act as a sort of written audition as part of the process of obtaining representation by a literary agent
      • spec multimedia (e.g., music video, commercial), a piece of content whose creator produces it at his own expense in the hope of landing paid work, to improve his portfolio ("showreel") in order to get a paid job