#le web

GlobalWebIndex Le Web in Paris – Exploring Consumer Social Engagement

This presentation has been delivered by Tom Smith, GWI founder and CEO, during the Social Business Track plenary at Le Web on Dec.5th 2012 in Paris.

I recently revisited my post on Fred Wilson’s presentation at Le Web. I ended up rewatching the presentation, and took some notes.

The three mega trends that form USV’s investment framework are based on societal/behavioral trends.

Mega trend 1: Transition from bureaucratic hierarchies to technology driven networks. In the industrial era transactional costs were so high, but technology has changed that in the post-industrial area, so technology driven networks are just beginning to replace bureaucratic hierarchies.

Examples:

Twitter is replacing the newspaper. We are all reporters now, anyone can publish information, the crowd decides what news is most important with follower count, and retweets. We now get all news instantly, and anywhere on our phone.

Youtube allows anyone to be a video creator. The crowd determines what is most interesting. We watch videos anywhere on our phones.

Soundcloud allows anyone to create audio/music. An individual then can post it on Soundcloud, without a record label. If the crowd likes what you share, you can build a following.

Airbnb disrupting hotels, Kickstarter/VHX replacing Hollywood system, Codeacademy p2p learning.

Mega trend 2: Unbundling- everything will eventually become unbundled. This focuses on the way products/services are delivered. In the past it was expensive to package things and deliver them to market, so products got bundled. Technology now efficiently allows things be packaged and delivered, allowing entrepreneurs to deliver much more focused services that can be delivered a la carte. The resulting products are much better because the people producing them are only focused on being the best at very specific things.

Examples:

Banking- in the past it was expensive to open a bank branch- so banks offered everything there: mortgage, small business loan, credit cards, etc. Now technology entrepreneurs are picking off different verticals, and building businesses around them. The peer to peer model is emerging, Lending club and Funding Circle. Technology driven models will unbundle the traditional bank.

Education- expensive to put students in a single room, and have a professor up front. No longer necessary,  since you can livestream a class to an unlimited number of people. Library full of printed books was expensive, now more people have tablets, and can get books instantly, at lower prices. Research was very capital intensive, but is becoming unbundled as well- using a network marketplace model ex: Science Exchange.

Entertainment- you used to have  to get a cable subscription to get all of your content- now we have Hulu, Netflix, YouTube, and VHX. Users can choose what they want, and connect their device to the TV.

Mega trend 3:  We are all now nodes on a network. More people are coming online, and once they do, they are always connected. In the developing world much more feasible to have a smartphone rather than a desktop- lower cost/more versatile. We aren’t connected sometimes, but all of the time. We are all connected to one another on the network.

Examples:

Uber- you (the passenger) and driver can instantly connect and go wherever you want. Profoundly impacts transportation. Taxis, rental cars, delivery. Simple move that is rapidly changing the world we live in.

Payments- Venmo, Square, Dwolla, etc- can send money to anyone on the network.

Dating- Tinder, leverages location and photos to connect people to one another on the network.

Four sectors of interest to USV-

Money (not payments)- Bitcoin the protocol- the financial and transactional protocol for the internet, that did not exist previously. Global, distributed, not owned/operated/controlled by anybody. Blockchain- global p2p, every transaction clears publicly on the ledger. The protocol is a technology based architecture that entrepreneurs can build technology and services over. Payments will flow on the internet like other content already does.

Health/Wellness (not healthcare)- it is what keeps you out of healthcare system. all three mega trends will come into play in this sector. These services will range from being personal/private to network based, and some will be between patient and caregiver. Advances in this space will allow us to be healthy, and well for so much longer in our lives.

Data Leakage (not big data)- data exhaust- this is the data allowing services like FB, Google, Twitter, and the NSA to spy on us when we don’t want them to. Getting control on an individual and societal level is important.

Trust/Identity- the tech industry has allowed large companies to serve as our identity service. We AUTH with their services because it is convenient, but we are giving them access to everything we do online. There will be a Bitcoin like service, a protocol that is distributed and global that gives us control over our identity, trust, and data.

Important thought from Fred: For VC’s and entrepreneurs knowing what you’re good at, and what you’re not good at is important. Sticking to what you are good at is crucial. If you don’t have a unique point of view on something, stay away.

Speaking at Le Web London 2013 was my Career Highlight in 2013

My professional highlight of 2013 has to be speaking on the All Marketing is Digital Marketing panel at LeWeb London 2013 during June with the distinguished moderator: Jeremiah Owyang, former Partner, Altimeter Group and fellow panellists;  Sonia Carter, Head of European Digital Marketing and Social Media, Mondelez and Paul Fabretti, Digital & Social Media Lead, Telefonica Europe. It was an absolute pleasure and honour to be involved with Le Web and share the stage with Jeremiah, Sonia and Paul. I have to say this has been my favourite external speaking engagement I have made to date.

The panel session covered the trend that organisations are behaving more like media and tech companies. It started with the web, and then added social media, communities, content marketing and now mobile and new technologies emerge at a rapid pace, which are now all integrated into day to day marketing communications. We live in an environment where brands are expected to be available in real time to deal with end users and react to opportunities instantly. During this session Sonia, Paul and I shared how we use digital technologies to connect with end users. Plus in this video you’ll find out what digital strategies we have implemented with real life examples, digital marketing hints and tips, what technologies we have deployed and what we think the future will hold for marketing.

The Impact of Sharing Your Life

Our CEO, Tony Espinoza, speaking today at Le Web. You can watch the video too!

There are many different theories about the real value of a conference. Some will say the line up is key, others want to meet people, make new connections and feel they had the opportunity to exchange inspiring ideas. Others just want a fresh look on a topic that matters to them and to find new perspectives. 

Le Web community shares a common belief: ideas are people and the best way to come up with great ones is to have a chance to hear from the best in their discipline and to share with those you wouldn’t otherwise have a chance to meet. 

Le Web is people. And here are the five reasons you are going to be blown away by what you can share with them. 

1. A Powerful Ecosystem 

How would you feel if for two days you could easily mingle with VCs, fellow entrepreneurs, early stage startups, more established businesses and companies and great media outlet?

Yes, we agree, it is pretty awesome.

Gathering such a great ecosystem is one of our biggest rewards and such a unique opportunity.  

2. Talent from Everywhere

It is one of the most important aspects of Le Web and one we are very proud of. Le Web is not only the biggest tech conference in Europe, it is also the most global one. Attendees gather from all over Europe, the US and the rest of the world to join the event. That’s one of its key specificity. 

“There is no innovative hub built on local talents” says Steve Blank, the father of the Lean Startup theory. Different cultures and knowledge is the necessary condition to foster innovation. There is no inspiring conference without a great mix of attendees with very different visions and roots. In London, the european cosmopolite city, it’s truer than ever.

3. London, a Dynamic Tech Scene 

London is a very important place for global entrepreneurs. With the Silicon Roundabout initiative, London has become a vibrant cluster of innovative businesses and targets to represent the center of the technology economy in Europe. The London’s Tech City Investment Organization does not hide its ambition. Joanna Shields, a former senior Facebook executive and new CEO of the organization, recently declared: 

“With the right boost now, there is no reason why we can't make London the number one location for tech in the world." 

Le Web London edition was imagined around the genuine desire of the London tech community to empower their tech industry and our endless enthusiasm to support such a great conviction and a fascinating city multiplying initiatives for the new economy. We love this passionate community, and are delighted to be in London again this year

4. More Than a Trend, the Exploration of a Revolutionary Mindset 

This year, Le Web London’s topic will tackle a completely new behavior that has emerged in just a couple of years. It represents thousands of new businesses in the making. With disruption at its heart, the sharing economy is primordial to understand. Beyond its impact, there is also this incredible resonance. The media has been all over it. 

The Sharing Economy is designed by new entrepreneurs from a generation who know how to thrive during chaotic times, having lived and continuing to live through crisis after crisis. Many of these startups symbolize more than a company, but a new movement and set of beliefs. You will not only learn about the main actors of the industry, their new platforms and business models, but also about the key values we have to embrace now to survive and even shine in the shift we are living, a shift that started with the digital revolution.  

5. Find Your Community Not for Just Two Days but For Years

We believe in networking, as a meaningful way to share. We are always thrilled when we hear successful stories or partnerships that started in between keynotes at Le Web. That’s the meaning of our event. Le Web community is based on amazing people that give and get even more in return. You will be surprised by the strong bonds you will create in just two days.