Greece Is A Startup: The Emerging Market Advantage
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Greece Is A Startup: The Emerging Market Advantage

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Emerging markets are the startups of the world disruption. ...

Emerging markets are the startups of the world disruption.

Their disruption of industrialized countries has reached the point of no return. The definition of markets is changing. The definition of jobs is changing. The definition of who we are is changing. It's a peer to peer world, enhanced by the internet and technological advancements.

More than a crisis, it's a catharsis and countries like Greece should adopt an emerging market philosophy to rebound.

Keynote address, TEDx Athens Salon, Athens, Greece, July 2, 2013.

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    Greece Is A Startup: The Emerging Market Advantage Greece Is A Startup: The Emerging Market Advantage Presentation Transcript

    • 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 CRISIS WAS DIFFERENT FROM PREVIOUS CRISIS
    • http://www.flickr.com/photos/yo_tuco/3873775866/sizes/o/ POST-CRISIS GDP RECOVERY NOT JOBS RECOVERY
    • http://www.flickr.com/photos/yo_tuco/3873775866/sizes/o/ THE WORLD HAS BEEN DISRUPTED
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ DISRUPTION IS A DEFLATION GAME
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ DISRUPTION MEANS FALLING PRICES
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ THINK YOUTUBE V. TELEVISION
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ 1,000,000,000 UNIQUES/MONTHS
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ YOUTUBE PROVIDES MASS SCALE DRAMATICALLY LOWER PRICE
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ TV IS ADDICTED TO LARGE MARGINS
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ INCUMBENTS ARE ADDICTED TO LARGE MARGINS
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ NOW THINK EMERGING V. INDUSTRIALIZED
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ EMERGING MARKETS PROVIDE MASS SCALE DRAMATICALLY LOWER PRICE
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ EMERGING MARKETS PROVIDE MASS WORKFORCE DRAMATICALLY LOWER PRICE
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ THE “WEST” IS ADDICTED TO LARGE MARGINS
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ WE HAD IT TOO GOOD
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ BUILT ON ABUNDANCE OF RESOURCES
    • http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ ABUNDANCE OF JOBS 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 DISRUPTED BY EMERGING MARKETS
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ YOU LOVE YOUR TECHNOLOGY
    • GLOBAL TECHNOLOGY Google 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 YOUR MOBILE 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 YOUR WEARABLE TECHNOLOGY
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ YOU LOVE YOUR DATA TECHNOLOGY
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ EVERYTHING WILL BE CONNECTED
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ EVERYTHING WILL TALK TO EACH OTHER
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ REMEMBER HOW YOU FLEW
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ HUMAN ENTRY HUMAN TO HUMAN PAPER TICKET
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ HOW DO YOU FLY TODAY?
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ MACHINE ENTRY MACHINE TO MACHINE ELECTRONIC TICKET
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ HOW DO YOU DRIVE TODAY?
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ HUMAN DRIVEN HUMAN TO HUMAN HUMAN DRIVING
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ HOW WILL YOU DRIVE TOMORROW?
    • http://www.flickr.com/photos/anantns/7979597377/sizes/l/ DATA DRIVEN MACHINE 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 JOBS WHO 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/ ARE EMERGING NEW IDENTITIES
    • EMERGED COMMUNITIES TWITTER FACEBOOK DEVIANTART,… 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/ TO P2P IDENTITIES FROM TOP-DOWN
    • TRIBALISM DIFFERENTIATED LIVING NEW GROUPS DETERMINATION SHARED ACTUALIZATION http://www.flickr.com/photos/dabok/6029437743/sizes/l/
    • NOMADISM MOBILITY AUGMENTED LIVING http://www.flickr.com/photos/dabok/6029437743/sizes/l/
    • SINGULARISM SELF-CONSTRUCT NODAL 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
    • ENGAGEMENT CONVENIENCE 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 BUYING THINGS http://www.flickr.com/photos/dabok/6029437743/sizes/l/
    • DEFINED BY ACCESS TO EXPERIENCES http://www.flickr.com/photos/dabok/6029437743/sizes/l/
    • BUYING EXPERIENCES http://www.flickr.com/photos/dabok/6029437743/sizes/l/
    • SHARING EXPERIENCES http://www.flickr.com/photos/dabok/6029437743/sizes/l/
    • DEFINED BY ACCESS TO THINGS http://www.flickr.com/photos/dabok/6029437743/sizes/l/
    • EMERGING MARKETPLACES AIRBNB RELAYRIDE LENDINGCLUB ANGEL LIST UDEMY,… 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 JOBS BY 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 JOB IS CHANGING DEFINITION
    • GLOBAL WORKFORCE ODESK ELANCE,… http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
    • http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ WOMEN WILL 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 WORKFORCE BIGGER PLANET
    • http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ ALONE WHEN HE SHOUTED EUREKA ARCHIMEDES WASN’T
    • http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ IN THE CITY OF SYRACUSE HE WAS
    • http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ AT THE CENTER OF INNOVATION 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 OF INNOVATION THE INTERNET IS
    • http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ THE NEW CITY THE INTERNET IS
    • http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ A GLOCAL CITY
    • IDEA #2: LEVERAGE THE EMERGING NODAL WORKFORCE http://www.flickr.com/photos/almostinfamous/5063718679/sizes/l/
    • ALWAYS ON http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ TECH SAVVY RICH SILICON VALLEY IS
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ OF TRADERS WITH LIMITED RESOURCES IN A WORLD
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ OF SHARERS WITH LIMITED RESOURCES IN A WORLD
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ ALWAYS DEALT WITH LIMITED RESOURCES EMERGING MARKETS
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ AND PEOPLE DEALT WITH LIMITED RESOURCES JOBS WERE HARDER TO GET
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ WITH LIMITED RESOURCES COMES NO CHOICE BUT TO ACCELERATE
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ BREAKING CONVENTIONS ACCELERATE
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ IDEAS ACCELERATE
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ 0 1 2 3 4 2008 2.4 3.4 3.7 MARKET ACCESS TECH KNOW HOW COST EMERGING FACTORS Source: Roland Berger
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ IDEAS ACCELERATE
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ IDEAS REPLICATION
    • 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/ IDEAS V. EXECUTION
    • http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ ADAPT TO 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 31 25 69 75 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 CREED http://www.flickr.com/photos/almostinfamous/5063718679/sizes/l/
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE SUCKS?
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ PERCEIVED DISADVANTAGES BECOME A FORCE
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ MYTHS OF LAZINESS BECOMES A FORCE
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREEKS SLEEP ALL THE TIME SLEEP EMPOWERS CREATIVITY Source: University of North Carolina
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREEKS ARE DREAMERS DAY DREAMING PUSHES Source: British Psychological Society of Occupational Psychology CREATIVITY
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREEKS ARE ROMANTICS FICTION FUELS CREATIVITY Source: University of Toronto & RESISTANCE TO DISORDER
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREEKS ARE NOISY HUMAN NOISE Source: University of Illinois FUELS CREATIVITY
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREEKS STAY OUTDOORS GOING OUT Source: University of Kansas FUELS CREATIVITY
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE SUCKS?
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE IS A STARTUP
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE CAN BEAT THE PIONEER GAP
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ BY ADOPTING THE EMERGING CREED
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE HAS THE TALENT
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE HAS THE PASSION
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE HAS THE CREATIVITY
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE IS BUILT FOR
    • ENGAGEMENT CONVENIENCE http://www.flickr.com/photos/jonk/7396078358/sizes/l/ PERSONALIZATION MEANING
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE HAS NO CHOICE
    • http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE HAS TO EMERGE FROM CRISIS TO CATHARSIS
    • THANK YOU. @papadimitriou FB/LI: paulpapadimitriou paulpapadimitriou.com http://www.flickr.com/photos/boklm/9059701815/sizes/l