The new digital business | Richard Heaslip | TEDxOxbridge

Summary

The speaker explores how technology is revolutionizing business, using personal anecdotes and examples like Kano computers and the evolution of mobile tech from pagers to smartphones. They discuss the rise of new business models with companies like Square and Spotify, the impact on traditional industries, and the emergence of the sharing economy with Airbnb. The talk emphasizes the importance of digital maturity for businesses, the power of small, agile teams, and the need for openness and innovation to stay relevant in a disruptive market.

Takeaways

• 😀 Technology is transforming the business landscape, with mobile technology evolving rapidly from pagers to smartphones.
• 👧 The younger generation, like the speaker's niece Lia, is growing up with technology, learning to code at a young age, indicating the future workforce's tech-savviness.
• 🚀 Futuristic technologies once only seen in movies, like hoverboards and video phone glasses, are becoming a reality, showcasing how fast technology is advancing.
• 📱 The smartphone is now a multifunctional device, acting as a payment provider, music library, and more, changing consumer behavior and business models.
• 🚖 Geolocation technology has disrupted traditional industries like taxis, with companies like Uber leveraging this technology to change the market.
• 🌐 The internet has enabled the creation of new markets and businesses, such as the Cambridge Satchel Company, which grew from a kitchen table operation to a global brand.
• 🏠 The sharing economy, exemplified by companies like Airbnb and Lyft, allows individuals to monetize their assets, disrupting traditional service industries.
• 📈 Digitally mature companies that adopt technology and innovate are outperforming their peers in terms of profits and shareholder value.
• 💡 Successful digital businesses combine a strong digital brand with a digital culture that encourages openness and experimentation.
• 🚀 Companies should aim to 'think 10x', striving for significant innovations rather than incremental improvements, to stay ahead in the competitive landscape.

Q & A

What is the main theme of the talk?

The main theme of the talk is how technology is changing the business environment and the way we do business.

What is the significance of the story about Lia and the Kano computer?

The story about Lia and the Kano computer illustrates the ease with which young people today can engage with technology and the potential for early exposure to programming.

How did the speaker describe the mobile technology during his study in the late 90s?

The speaker described the mobile technology during his study in the late 90s as being at a stage where the height of mobile technology was a pager.

What examples of technology from the 'Back to the Future' movie were discussed in the talk?

The talk discussed examples such as hoverboards, which were predicted in the movie but are now a reality through the Hendo hoverboard, and video phone glasses, which are similar to Google Glass.

How is the mobile phone described in terms of its evolution?

The mobile phone is described as evolving beyond just a phone or video phone into a payment provider, reflecting new business models created by technology.

What is the impact of geolocation technology on the taxi market as discussed in the talk?

Geolocation technology has disrupted the taxi market by enabling services like Uber, where users can book taxis and share their location, making traditional taxi services struggle.

Who is Michelle Phan and why is she mentioned in the talk?

Michelle Phan is a content creator who started her business on YouTube by posting makeup tutorials. She is mentioned as an example of new entrepreneurs enabled by technology.

What is the significance of the Cambridge Satchel company in the context of this talk?

The Cambridge Satchel company is significant as it represents a new market created by technology, showing how a small business can become global with the help of the internet.

What is the sharing economy and how does it relate to technology?

The sharing economy is an economic model based on sharing access to resources rather than owning them. It relates to technology through platforms like Airbnb and Lyft, which enable individuals to rent out their assets or services.

What does the speaker mean by 'disrupt or be disrupted'?

The speaker means that companies must innovate and adapt to new technologies and market changes, or they will be overtaken by competitors who do.

What advice does the speaker give to the audience regarding their careers?

The speaker advises the audience to embrace digital first strategies, work with and hire talented people, challenge themselves, and move at the speed of their consumers to avoid being disrupted.