Hot shot investor about mega trends: Data Leaks, trust and identity
Here is the speak by Fred Wilson on Le Web in Paris. I am very excited to hear that he predicts that data laekages, trust and identity will be some of the hottest issues onwards and that he and his company are paying special attention to it. If you just want to hear that, listen from minute 23 to 26. The whole talk is worth listening to but below is a short resume:
We will see 3 big mega trends:
Megatrend 1: From bureaucratic hierarchies to technology-driven networks – the way we organize today with a CEO at the top and a pyramid down of leaders – will change. Transaction and communications costs were so high once that it was the most efficient way to organize. It is not anymore. Examples:
Twitter, a network – will replace the newspaper, a traditional hierarchy. Newsapers are a slow-moving, bureaucratic way to deliver the news. Now we are all reporters and it is happening now.
YouTube – replaces tv. Same reasons.
SoundCloud – replaces the radio and music industry. Everybody can create music.
Though we are only at the brink of this mega-trend, we see it happening in other businesses like hotels (AirBnB and One Fine Stay – renting out rooms through private networks), educations (codecademy – everybody can get access to e-learning).
Megatrend 2: Unbundling
Everthing get fragmented looking at products and services. The newspaper is a good example. You would get it all from one source. Now you get it from lots and lots of sources and you get it from those who are best at delivering the niche stuff.
Other businesses will be unbundled:
Banking because of network power like peer-to-peer lending platform.
Education and research
Megatrend 3: Mobile – you are a node on the network
Being constantly connected is changing a lot of industries. Transportation with rental cars, payment (peer to peer) and dating.
Here are 4 sectors we find really interesting:
Money. There will not be one company to control our money. They’ll flow like content.
Health and wellness. Not healthcare but the opposite – what keeps us OUT of healthcare. We have seen fitbits etc. Devices that can report to us AND others how we are doing.
Data laekage. In the information revolution the pollution is data where we let the government, Google and other services spy on us. We dont have control over that. Getting control is important. We didnt do anything about industrial pollution for a century.
Trust and identity. We have allowed Google and Facebook and to some extent Amazon and Twitter to be our identity services. We log into these services all day long. But we are giving them access to everything we do. There will come a Bitcoin-like-service, not controlled by anybody, that will allow us to do the same thing but in a manner where WE control our own identity.
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