Benedict Evans gave this fantastic presentation last week at the Wall Street Journal Conference last week. He discusses the impact that mobile has had on tech and other industries. For people interested in technology entrepreneurship this presentation gives a great context to the current environment and highlights the opportunities still available.
- Technology is now selling to everyone - Mobile has meant the barriers to accessing the internet are decreasing. Android smartphone now available for $50. The number of people who are not on the internet is decreasing. The market for technology and software companies is increasing.
Remaking the Tech industry
- Smartphones come with increasing amount of sensors - As cameras on the phone changed the camera industry so will sensors. More capabilities on mobile will lead to new opportunities to develop more integrated systems (including wearables.)
Remaking Other Industries
- Google, Apple, Facebook and Amazon (GAFA) is still quite small compared to big industries such as Apparel and Automobile. Take Amazon, they are a retailer who reach their customers through technology. They’ve only acquired 1% of retail economy so huge opportunity still to pursue.
- Technology Disappears - AirBnb and Uber are technology companies taking on two huge markets, travel and transport. Technology has enabled them to exist, but now that they do exist they operate outside of the technology industry. This shows that when a technology becomes fully adopted (in this case the consumer internet) the technology disappears. It is simply a distribution channel.
- Tech Is Outgrowing the Tech Industry - Everything will be a tech company they just won’t necessarily look like one from the outside.
Full slides from Ben’s presentation, Mobile Is Eating the World.