Greece Is A Startup: The Emerging Market Advantage
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Transcript of Greece Is A Startup: The Emerging Market Advantage
GREECE IS A STARTUP:THE EMERGING
MARKET ADVANTAGE
Paul Papadimitriou — TEDx Athens Salon — Athens — July 2013
GREECE SUCKS
http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
DO YOU HAVE A JOB?
http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
64.2%
http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
YOUTH UNEMPLOYMENT
Source: Eurostat, 18-25 y.o
DO YOU WANT TO BECOME A PUBLIC SERVANT?
http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
JOBS ARE GONE
http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
GREECE SUCKS
http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
NO BROADBAND
http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
NO INDUSTRY
NO MONEY
NOT ALWAYS ON
http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
NOT TECH SAVVY
NOT RICH
LIMITED RESOURCES
http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
GREECE SUCKS?
http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
http://www.flickr.com/photos/yo_tuco/3873775866/sizes/o/
JOBS #FAIL WORLDWIDE
http://www.flickr.com/photos/yo_tuco/3873775866/sizes/o/
2008 CRISISWAS DIFFERENT
FROM PREVIOUS CRISIS
http://www.flickr.com/photos/yo_tuco/3873775866/sizes/o/
POST-CRISISGDP RECOVERY
NOT JOBS RECOVERY
http://www.flickr.com/photos/yo_tuco/3873775866/sizes/o/
THE WORLD HASBEEN DISRUPTED
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
DISRUPTIONIS A DEFLATION GAME
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
DISRUPTIONMEANS FALLING PRICES
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
THINKYOUTUBE V. TELEVISION
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
1,000,000,000UNIQUES/MONTHS
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
YOUTUBE PROVIDESMASS SCALE
DRAMATICALLY LOWER PRICE
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
TVIS ADDICTED TOLARGE MARGINS
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
INCUMBENTSARE ADDICTED TOLARGE MARGINS
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
NOW THINKEMERGING V. INDUSTRIALIZED
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
EMERGING MARKETS PROVIDEMASS SCALE
DRAMATICALLY LOWER PRICE
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
EMERGING MARKETS PROVIDEMASS WORKFORCE
DRAMATICALLY LOWER PRICE
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
THE “WEST”IS ADDICTED TOLARGE MARGINS
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
WE HAD ITTOO GOOD
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
BUILT ONABUNDANCE OF RESOURCES
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
ABUNDANCE OFJOBS
MONEY, RAW MATERIALS,…
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
THIS IS GONE
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
WE ARE BEING DISRUPTED
http://www.flickr.com/photos/annamagal/4697076085/sizes/l/
WE ARE BEING DISRUPTEDBY EMERGING MARKETS
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
YOU LOVE YOURTECHNOLOGY
GLOBAL TECHNOLOGY
MS
FB
Yahoo
0 375 750 1125 1500
US World
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
Source: Comscore Global 2013
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
YOU LOVE YOURMOBILE TECHNOLOGY
MOBILE EXPLOSION
0
250
500
750
1000
1250
1500
2000 2002 2004 2006 2008 2010 2012
PCs Smartphones & tablets
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
Source: Benedict Evans, Mobile is Eating the World
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
Source: Benedict Evans, Mobile is Eating the World
71%OF LITERATE PEOPLE WILL
HAVE A SMARTPHONE IN 2017
BIGGEST TECH SHIFT EVER
1960 1970 1980 1990 2000 2015
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
Source: Mary Meeker Internet Trends
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
YOU LOVE YOURWEARABLE TECHNOLOGY
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
YOU LOVE YOURDATA TECHNOLOGY
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
EVERYTHING WILLBE CONNECTED
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
EVERYTHING WILLTALK TO EACH OTHER
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
REMEMBER HOW YOUFLEW
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
HUMAN ENTRYHUMAN TO HUMAN
PAPER TICKET
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
HOW DO YOU FLYTODAY?
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
MACHINE ENTRYMACHINE TO MACHINE
ELECTRONIC TICKET
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
HOW DO YOU DRIVETODAY?
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
HUMAN DRIVENHUMAN TO HUMAN
HUMAN DRIVING
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
HOW WILL YOU DRIVETOMORROW?
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
DATA DRIVENMACHINE TO MACHINE
ELECTRONIC DRIVING
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
ROBOTIZATION,…I COULD GO ON
AUTOMATIZATION,
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
THIS IS A REVOLUTION
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
AN EFFICIENCY REVOLUTION
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
NO MORE JOBSWHO NEEDS HUMANS?
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
WITHOUT FULL ACCESS?PROSPERITY
http://www.flickr.com/photos/anantns/7979597377/sizes/l/
WE ARE BEING DISRUPTED
http://www.flickr.com/photos/theqspeaks/6243039829/sizes/l/
SO WHAT NOW?
http://www.flickr.com/photos/theqspeaks/6243039829/sizes/l/
EMERGING IDEAS
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
AREEMERGING
NEW IDENTITIES
EMERGED COMMUNITIESTWITTER
FACEBOOKDEVIANTART,…
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
ARE ENABLING TRUST & OPENNESS
MASS SCALE NETWORKS
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
TOP2P IDENTITIES
FROM TOP-DOWN
TRIBALISMDIFFERENTIATED LIVING
NEW GROUPS DETERMINATIONSHARED ACTUALIZATION
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
NOMADISMMOBILITY
AUGMENTED LIVING
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
SINGULARISMSELF-CONSTRUCTNODAL LIVING
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
NEW SELVES
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
NEW CONSUMERS
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
EMPOWERED& AWARE
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
LOOKING FOR
ENGAGEMENTCONVENIENCE
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
PERSONALIZATION
MEANING
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
NOT DEFINED BY THINGS
NOT BUYINGTHINGS
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
DEFINED BY ACCESS TOEXPERIENCES
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
BUYINGEXPERIENCES
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
SHARINGEXPERIENCES
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
DEFINED BY ACCESS TOTHINGS
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
EMERGING MARKETPLACESAIRBNB
RELAYRIDELENDINGCLUB
ANGEL LISTUDEMY,…
http://www.flickr.com/photos/dabok/6029437743/sizes/l/
IDEA #1:P2P MARKETPLACES FOR EMERGING IDENTITIES
http://www.flickr.com/photos/almostinfamous/5063718679/sizes/l/
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
WILL HAVE 18 JOBSBY THE AGE OF 36
YOUTH TODAY
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
AND THAT’S OK
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
OF JOBIS CHANGING
DEFINITION
GLOBAL WORKFORCEODESK
ELANCE,…
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
WOMENWILL ENTER THE WORKFORCE
1,000,000,000
Source: Booz & CO
IN THE NEXT 10 YEARS
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
BIGGER WORKFORCEBIGGER PLANET
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
ALONE WHEN HE SHOUTEDEUREKA
ARCHIMEDES WASN’T
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
IN THE CITYOF SYRACUSE
HE WAS
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
AT THE CENTER OFINNOVATION
CITIES ARE
SUPER-LINEARITY
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
Source: MIT
PEOPLE ONLINE
1995 2000 2005 2010 2012 2020
5000000000
2029000000
201900000101900000411000004400000
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
Source: World Bank
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
AT THE CENTER OFINNOVATION
THE INTERNET IS
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
THE NEWCITY
THE INTERNET IS
http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
A GLOCALCITY
IDEA #2:LEVERAGE THE EMERGING
NODAL WORKFORCEhttp://www.flickr.com/photos/almostinfamous/5063718679/sizes/l/
ALWAYS ON
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
TECH SAVVY
RICHSILICON VALLEY IS
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
OF TRADERSWITH LIMITED RESOURCES
IN A WORLD
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
OF SHARERSWITH LIMITED RESOURCES
IN A WORLD
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
ALWAYS DEALTWITH LIMITED RESOURCES
EMERGING MARKETS
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
AND PEOPLE DEALTWITH LIMITED RESOURCES
JOBS WERE HARDER TO GET
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
WITH LIMITED RESOURCESCOMES NO CHOICEBUT TO ACCELERATE
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
BREAKING CONVENTIONSACCELERATE
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
IDEASACCELERATE
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
0
1
2
3
4
2008
2.4
3.43.7
MARKET ACCESSTECH KNOW HOWCOST
EMERGING FACTORS
Source: Roland Berger
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
IDEASACCELERATE
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
IDEASREPLICATION
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ and http://www.flickr.com/photos/koreanet/8559421022/sizes/l
ORIGINAL?
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
HATING COPY IS INSANITY
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
IDEASV. EXECUTION
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
ADAPTTO LIMITED RESOURCES
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
Attributes CharacteristicsCharacteristicsCharacteristicsCharacteristics
Performance Low-low-end Low-end Mid-end High-end
Simplicity SimpleSimple ComplexComplex
Robustness Robust/maintenance-friendlyRobust/maintenance-friendly Fragile/laborious to maintainFragile/laborious to maintain
Economies of scale High volume High to medium volume Medium to low volume Low volume
Pricing Low price Medium price High price Premium price
EMERGING CHARACTERISTICS
Source: Roland Berger
NOT ALWAYS ON?
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
NOT TECH SAVVY?
NOT RICH?
DIFFERENT MODEL
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
CONSTRAINED MODEL
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
EFFICIENT MODEL
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
0
20
40
60
80
2008 2012
3125
6975
INDUS EMERGING
INNOVATION OUTPUT
REPLICABLE MODEL
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
ACROSS CULTURES
RADICAL MODEL
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
CORPORATE INVESTMENT
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
> VC INVESTMENT
SOCIALLY GOOD
http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
MODEL
IDEA #3:ADOPT THE EMERGING MARKET
CREEDhttp://www.flickr.com/photos/almostinfamous/5063718679/sizes/l/
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREECESUCKS?
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
PERCEIVED DISADVANTAGESBECOME A FORCE
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
MYTHS OF LAZINESSBECOMES A FORCE
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREEKS SLEEP ALL THE TIMESLEEP EMPOWERS CREATIVITY
Source: University of North Carolina
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREEKS ARE DREAMERSDAY DREAMING PUSHES
Source: British Psychological Society of Occupational Psychology
CREATIVITY
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREEKS ARE ROMANTICSFICTION FUELS CREATIVITY
Source: University of Toronto
& RESISTANCE TO DISORDER
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREEKS ARE NOISYHUMAN NOISE
Source: University of Illinois
FUELS CREATIVITY
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREEKS STAY OUTDOORSGOING OUT
Source: University of Kansas
FUELS CREATIVITY
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREECESUCKS?
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREECEIS A STARTUP
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREECECAN BEAT THEPIONEER GAP
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
BY ADOPTING THEEMERGING CREED
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREECEHAS THE TALENT
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREECEHAS THE PASSION
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREECEHAS THE CREATIVITY
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREECEIS BUILT FOR
ENGAGEMENTCONVENIENCE
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
PERSONALIZATION
MEANING
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREECEHAS NO CHOICE
http://www.flickr.com/photos/jonk/7396078358/sizes/l/
GREECEHAS TO EMERGE
FROM CRISIS TO CATHARSIS
THANK YOU.@papadimitriou
FB/LI: paulpapadimitrioupaulpapadimitriou.com
http://www.flickr.com/photos/boklm/9059701815/sizes/l