The new year is upon us, and as 2013 draws to a close, we want to take a look back at another highlight in the marketing tech world from this year. Today, we’re recapping Sir Michael Moritz’s presentation at this year’s Tech Crunch: DisruptSF.
Sir Michael Moritz, chairman of Sequoia Capital, started his presentation by discussing how quickly technology has evolved in recent history. He focused on the technology of mobile phones and the internet, and he also highlighted the idea that the tools on our mobile phones are the most powerful tools pretty much ever.
The Data Factory
The majority of Michael’s presentation was about what Michael referred to as the data factory. He discussed how many companies amass data for free from their users by offering them things that they want to use. The data factory is connected to the consumers through things like Youtube, Linkedin, Yelp, Amazon Reviews, and many other companies. These companies provide tools for consumers to do all kinds of things, including selling products. This allows the data factory to collect information and feedback that consumers are giving out for free. In a sense, both the consumers and the data factory do something for each other that doesn’t cost either of them money and benefits both of them.
Michael says that this is a revolution in the way that people are working. Many people are employed by the data factory, and the ones that aren’t employed by the data factory use the tools available to market the skills and products. He points to websites like Ebay, Etsy, Instacart, TaskRabbit, and many others to show how people are able to make money while giving the data factory what they want.
Worldwide Technology Opportunity
Michael said that what’s happening with the data factory is in some ways similar to the Industrial Revolution. Michael says it’s a revolution in the way people are working in the world. One of the big differences between the Industrial Revolution and this revolution, however, is that the Industrial Revolution was confined to specific geographic locations, whereas this revolution is not. “This is the first shift in industrial and technology revolution that has occurred simultaneously around the world…that has never been true for the emergence of a huge abrupt shift in the organization of human work.”