From 600+ conversations with the world’s leading thinkers.
The potential for blockchain is to accelerate the digitization of financial markets. Blockchain gets everyone excited as it has the potential to convene these different parties together to reach the necessary agreements, in that sense it is a unique enabler, a coordination mechanism. That has massive implications on the structure of our financial markets.
The reality is that most consumers aren't excited by incremental changes. To capture consumers' attention and make the market take notice, you need meaningful innovation—something genuinely new.
80% of self-made billionaires we studied made their mark in mature, competitive markets. They weren't all 'exactly' new products that came out – they were maybe a variation of a business model or existing product that pleased the customer in a different way. Think of Howard Schulz with Starbucks, or Sara Blakeley with Spanx for example.
Crypto-currency is a means by which people can exchange property in a secure way without the use of a central institution like a bank or the Federal Reserve.
There's a lot of synergy between music and entrepreneurship. There's that kind of similar taking risks, that innovation. I think it's a really exciting time.
Industry expertise can sometimes be a hindrance in innovation. Those deeply entrenched in an industry are often the least likely to disrupt it.
From a global point of view, we are currently in the middle of a technical revolution similar to what our grandparents experienced when everybody switched their horse carts for cars. The same is happening now and it is a phase of transition for many businesses.
Water is the essence of life. On Earth it's used to grow plants and within industrial processes but in space it takes on a whole new form. We can use water as a radiation shield. One cubic metre of water gives the same protection as Earth's atmosphere and magnetosphere. Water is a molecule made of hydrogen and oxygen- and that happens to be rocket fuel.
Technologies are emerging and moving so fast, that it's very hard to build accountability mechanisms; not least because technologies can become ubiquitous before we understand them.
Hip hop, in my view, stands at the vanguard of cultural and technological adoption, consistently ahead in both marketing and technological innovations. If you aim to create cutting-edge businesses, there's a lot to learn from these fields, which consistently remain at the forefront.
Our philosophy has been about trying to control the entire customer experience. A lot of people, when they think about branding, they think about advertising and marketing. But we actually don't do any advertising or marketing. Instead, we invest all of that money into the customer experience, and then our customers do our marketing for us through word of mouth.
All of the research we've done exploring space has now allowed small teams- with modest funds- to do what it once took entire governments to do. The design and collaborative power of an individual engineer or technologist is more powerful than it's ever been. The tasks themselves are getting more accessible too.