I am late in sharing about various activities of the past two weeks. The activities used up the time for blogging! Exiting the train at Grand Central last Monday morning was followed by a nice walk down Madison Avenue to the magnificent Pierpont Morgan Library to attend the WIRED Business Conference: Disruptive By Design.
It was a superb day, featuring interviews and highlights from WIRED editor in chief, Chris Anderson as well as an impressive group of speakers including Jeff Bezos, Jeff Immelt, Shai Agassi, Elon Musk and Vivek Kundra, the newly named CIO of the United States. Alll of the content is available at wired.com.
The speakers were excellent with the exception of Scott Thompson, President of PayPal who was doing a non-stop pitch for how great his company is. All the other speakers shared their vision for the future of various technologies and business strategies and in particular talked about how disruption can be a problem or an opportunity depending on how you approach it. Jeff Bezos, always the consummate visionary talked about how electronic books will disrupt traditional publishing business models. When I see small children carrying 50 pounds of books in their backpack it seems so obvious that an e-book — which weighs less than a half-pound can hold all of their textbooks — is going to prevail. Jeff said that books have “had a nice 500 year run”. Critics say that the market is limited for devices which can only do one thing, like enable you to read a book. Jeff said “what could be more important than reading”. He believes a “purpose built” device serves an important and growing market. Many business leaders in Amazon’s position with the Kindle would tie the content and the device in a proprietary model. Jeff says that Amazon plans for the Kindle to be the best device and their strategy is enable the device to read content of any format. In parallel the Amazon format will be made available on competitors e-books. He clearly follows a long-term strategy.
Jeff Immelt also demonstrated strategic leadership in his comments in numerous areas. He said that the Chinese have developed an MRI scanner that is a third the cost of what GE enjoys as their richest market segment today. Many companies would put their head in the ground, but GE is planning to compete directly with Chinese pricing and expand the MRI market on a global basis. I was quite impressed with the comments of Vivek Kundra. The former CTO for the city of Washington DC who is now the first US government CIO. He has a very aggressive approach to opening up government to the people. Today there are more than 20,000 government web sites and most do not make it easy to get data. Vivek is planning to make all non-secret data available to the public through data.gov, His visionary theory is that by making the data available people will find ways to build applications to explore and exploit the data. Privacy will be an issue but the upside is very large. While some people fear the government “watching us”, the strategy behind data.gov will allow citizens to watch the government.
Overall, the conference was exceptionally well produced. Upon leaving at the end of the day attendees were given a nice Golla Mobile Lifestyle bag containing a couple of WIRED magazines plus a copy of Chris Anderson’s new book — Free: The Future of a Radical Price. The summer read pile growing already — but mostly on the Kindle.
As usual, one of the best parts of the conference was seeing former colleagues from years past. It was very nice to catch up with Nicholas Negroponte and Ann Winblad and to compare notes with Jay Walker. Jeff Bezos hung around with attendees at the reception at the end of the day and answered questions from several of us. He is a brilliant businessman that makes it a habit to listen to what people (customers) have to say. I would say that is also why Amazon has a market capitalization of $36 billion.