By: Peter Diamandis
Peter’s exponential series has been a paradigm shift for me. Like the first time I read Rich Dad, Poor Dad.
I am fascinated by what the world will look like in 10 years. What new jobs will exist? What jobs will cease to exist? My head is spinning thinking about how this will impact every industry very soon.
Here are my favorite takeaways.
1. Think Exponential
i. Digitalization: converting your business to 1s and 0s starts the chain reaction using information tech & collaboration for exponential growth and change.
ii. Deception: Tiny growth.
iii. Disruption: Growth becomes obvious & disrupts industries.
iv. Demonetization: Removal of money from the equation.
v. Dematerialization: Once-solid objects take less-solid forms.
vi. Democratization: The costs of owning a piece of equipment drops low enough that anyone can afford it.
40% of today’s Fortune 500 companies will be gone in ten years. Products & services are being dematerialized & demonetized. Encyclopedias were once expensive collections but now they are on the internet (dematerialized) on Wikipedia for free (demonetized).
2. Five to Change the World
i. Robotics: Personal robots w/ AI may eliminate 45% of US jobs by 2035.
ii. Infinite Computing: computing power has grown to a level that requires less programming because they can run all potential options simultaneously & choose the best option. This blew my mind!
iii. Synthetic Biology: Expect life-saving, at-home medical diagnostics, such as nanoparticles in toothpaste that keep cleaning your teeth after brushing.
iv. AI: Think of Jarvis from Ironman. Google believes everyone will have their own by 2029.
v. Networks and Sensors (IoT): Soon trillions of sensors will blanket the globe via the internet, alerting you to take your meds, water your plants, etc. What new businesses will come from this?
3. Lean Start Ups
Small start ups will outmaneuver giants. Create small teams & aim for 1,000% improvement. Allow them to isolate themselves from distractions to experiment, fail fast, & continually learn, improve & repeat.
Use the power of the hyper-connected crowd to source ideas, products, & solutions. Digital products must be open API!