The Incredible Influence of Technology | 15 Things to Understand
In this video, we’re going to explore the incredible influence of technology through 15 charts, mental models, concepts and laws.
Here’s a quick rundown of what you’re about to learn:
1. The Customer Adoption Curve
This model has been adapted many times. Geoffrey Moore’s version adds that for a product or technology, the most challenging move is to cross the chasm, known as the gap between early adopters and the early majority.
2. The S-Curve Model
The current influence of technology has seen 4 S-curves: mainframes, PCs, Web and mobile. If you want to be a visionary, the question you should be asking is: what is the next phase?
3. The Disruptive Innovation Model
Clayton Christensen’s’ model states that new technologies take root in simple applications at the bottom of a market. Some good examples of this are Netflix and Uber.
4. Gartner’s Hype Cycle represents the maturity, adoption and social application of specific technologies.
Although it’s been widely criticised, this mental model will help you understand the incredible influence of technology and risk level of your tech investment decisions.
5. The Lindy Effect
This model argues that the longer a technology lives, the longer it can be expected to live. If your business is 100 years old, it should survive another 100 years.
6. The Blue Ocean Red Ocean
The sixth model separates product launches into two types of strategies by essentially asks you strategic questions: do you want to jump into a saturated market, or a novel one?
7. Deloitte’s Digital Disruption Map
Special mention for the expression “Short Fuse, Big bang”. It’s a matrix that maps out the POTENTIAL for disruption and the TIMING = when it will happen?
8. Moore’s Law is another way to understand the incredible influence of technology.
We can expect the speed and capability of our computers to increase every couple of years, and we will pay less for them.
9. The Cambrian Explosion important because of the relatively short time over which this diversity of forms appears
Take Deep Learning as an example. This is made possible by three factors: the increase in computational power, fundamental algorithms and access to mind-blowing amounts of data, both structure and unstructured.
10. Carlota Perez’ view of Technological Revolutions
All technological revolutions follow a similar pattern: deployment, a bubble with a recession and a gradual comeback renaissance. If the pattern continues, where are we now?
11. Market Capitalisation
This formula refers to the total dollar market value of a company’s outstanding shares of stock. Commonly referred to as “market cap,” it is calculated by multiplying the total number of a company’s outstanding shares by the current market price of one share.
12. The Long Tail Effect
Chris Anderson applied this distribution to explain the influence of tech and the opportunities it offers. In online markets, lots of niche goods tend to outsell fewer hit products. Think large movie companies vs. Netflix.
13. Metcalfe’s law
Here’s another way to understand the influence of technology: every time you connect another person into a network, and therefore able to make many more connections, the impact is multiplied and becomes exponential.
14. Reed’s law believes that Metcalfe’s law understates the value created by a group-forming network as it grows.
15. The DANGER formula
Noah Yuval Harari’s idea is that as we keep moving forward in this technological revolution, it might not just disrupt the economics or politics but also our biology.
In the end, you’ll have a handful of resources that you can use to understand the incredible influence of technology.