Greece Is A Startup: The Emerging Market Advantage

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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.

Published in: Business, Technology

Greece Is A Startup: The Emerging Market Advantage

  1. 1. GREECE IS A STARTUP: THE EMERGING MARKET ADVANTAGE Paul Papadimitriou — TEDx Athens Salon — Athens — July 2013
  2. 2. GREECE SUCKS http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
  3. 3. DO YOU HAVE A JOB? http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
  4. 4. 64.2% http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/ YOUTH UNEMPLOYMENT Source: Eurostat, 18-25 y.o
  5. 5. DO YOU WANT TO BECOME A PUBLIC SERVANT? http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
  6. 6. JOBS ARE GONE http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
  7. 7. GREECE SUCKS http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
  8. 8. NO BROADBAND http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/ NO INDUSTRY NO MONEY
  9. 9. NOT ALWAYS ON http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/ NOT TECH SAVVY NOT RICH
  10. 10. LIMITED RESOURCES http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
  11. 11. GREECE SUCKS? http://www.flickr.com/photos/sudhamshu/3202963823/sizes/l/
  12. 12. http://www.flickr.com/photos/yo_tuco/3873775866/sizes/o/ JOBS #FAIL WORLDWIDE
  13. 13. http://www.flickr.com/photos/yo_tuco/3873775866/sizes/o/ 2008 CRISIS WAS DIFFERENT FROM PREVIOUS CRISIS
  14. 14. http://www.flickr.com/photos/yo_tuco/3873775866/sizes/o/ POST-CRISIS GDP RECOVERY NOT JOBS RECOVERY
  15. 15. http://www.flickr.com/photos/yo_tuco/3873775866/sizes/o/ THE WORLD HAS BEEN DISRUPTED
  16. 16. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ DISRUPTION IS A DEFLATION GAME
  17. 17. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ DISRUPTION MEANS FALLING PRICES
  18. 18. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ THINK YOUTUBE V. TELEVISION
  19. 19. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ 1,000,000,000 UNIQUES/MONTHS
  20. 20. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ YOUTUBE PROVIDES MASS SCALE DRAMATICALLY LOWER PRICE
  21. 21. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ TV IS ADDICTED TO LARGE MARGINS
  22. 22. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ INCUMBENTS ARE ADDICTED TO LARGE MARGINS
  23. 23. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ NOW THINK EMERGING V. INDUSTRIALIZED
  24. 24. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ EMERGING MARKETS PROVIDE MASS SCALE DRAMATICALLY LOWER PRICE
  25. 25. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ EMERGING MARKETS PROVIDE MASS WORKFORCE DRAMATICALLY LOWER PRICE
  26. 26. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ THE “WEST” IS ADDICTED TO LARGE MARGINS
  27. 27. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ WE HAD IT TOO GOOD
  28. 28. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ BUILT ON ABUNDANCE OF RESOURCES
  29. 29. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ ABUNDANCE OF JOBS MONEY, RAW MATERIALS,…
  30. 30. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ THIS IS GONE
  31. 31. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ WE ARE BEING DISRUPTED
  32. 32. http://www.flickr.com/photos/annamagal/4697076085/sizes/l/ WE ARE BEING DISRUPTED BY EMERGING MARKETS
  33. 33. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ YOU LOVE YOUR TECHNOLOGY
  34. 34. 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
  35. 35. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ YOU LOVE YOUR MOBILE TECHNOLOGY
  36. 36. 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
  37. 37. 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
  38. 38. BIGGEST TECH SHIFT EVER 1960 1970 1980 1990 2000 2015 http://www.flickr.com/photos/anantns/7979597377/sizes/l/ Source: Mary Meeker Internet Trends
  39. 39. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ YOU LOVE YOUR WEARABLE TECHNOLOGY
  40. 40. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ YOU LOVE YOUR DATA TECHNOLOGY
  41. 41. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ EVERYTHING WILL BE CONNECTED
  42. 42. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ EVERYTHING WILL TALK TO EACH OTHER
  43. 43. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ REMEMBER HOW YOU FLEW
  44. 44. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ HUMAN ENTRY HUMAN TO HUMAN PAPER TICKET
  45. 45. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ HOW DO YOU FLY TODAY?
  46. 46. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ MACHINE ENTRY MACHINE TO MACHINE ELECTRONIC TICKET
  47. 47. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ HOW DO YOU DRIVE TODAY?
  48. 48. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ HUMAN DRIVEN HUMAN TO HUMAN HUMAN DRIVING
  49. 49. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ HOW WILL YOU DRIVE TOMORROW?
  50. 50. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ DATA DRIVEN MACHINE TO MACHINE ELECTRONIC DRIVING
  51. 51. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ ROBOTIZATION,… I COULD GO ON AUTOMATIZATION,
  52. 52. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ THIS IS A REVOLUTION
  53. 53. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ AN EFFICIENCY REVOLUTION
  54. 54. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ NO MORE JOBS WHO NEEDS HUMANS?
  55. 55. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ WITHOUT FULL ACCESS? PROSPERITY
  56. 56. http://www.flickr.com/photos/anantns/7979597377/sizes/l/ WE ARE BEING DISRUPTED
  57. 57. http://www.flickr.com/photos/theqspeaks/6243039829/sizes/l/ SO WHAT NOW?
  58. 58. http://www.flickr.com/photos/theqspeaks/6243039829/sizes/l/ EMERGING IDEAS
  59. 59. http://www.flickr.com/photos/dabok/6029437743/sizes/l/ ARE EMERGING NEW IDENTITIES
  60. 60. EMERGED COMMUNITIES TWITTER FACEBOOK DEVIANTART,… http://www.flickr.com/photos/dabok/6029437743/sizes/l/
  61. 61. http://www.flickr.com/photos/dabok/6029437743/sizes/l/ ARE ENABLING TRUST & OPENNESS MASS SCALE NETWORKS
  62. 62. http://www.flickr.com/photos/dabok/6029437743/sizes/l/ TO P2P IDENTITIES FROM TOP-DOWN
  63. 63. TRIBALISM DIFFERENTIATED LIVING NEW GROUPS DETERMINATION SHARED ACTUALIZATION http://www.flickr.com/photos/dabok/6029437743/sizes/l/
  64. 64. NOMADISM MOBILITY AUGMENTED LIVING http://www.flickr.com/photos/dabok/6029437743/sizes/l/
  65. 65. SINGULARISM SELF-CONSTRUCT NODAL LIVING http://www.flickr.com/photos/dabok/6029437743/sizes/l/
  66. 66. http://www.flickr.com/photos/dabok/6029437743/sizes/l/ NEW SELVES
  67. 67. http://www.flickr.com/photos/dabok/6029437743/sizes/l/ NEW CONSUMERS
  68. 68. http://www.flickr.com/photos/dabok/6029437743/sizes/l/ EMPOWERED & AWARE
  69. 69. http://www.flickr.com/photos/dabok/6029437743/sizes/l/ LOOKING FOR
  70. 70. ENGAGEMENT CONVENIENCE http://www.flickr.com/photos/dabok/6029437743/sizes/l/ PERSONALIZATION MEANING
  71. 71. http://www.flickr.com/photos/dabok/6029437743/sizes/l/ NOT DEFINED BY THINGS
  72. 72. NOT BUYING THINGS http://www.flickr.com/photos/dabok/6029437743/sizes/l/
  73. 73. DEFINED BY ACCESS TO EXPERIENCES http://www.flickr.com/photos/dabok/6029437743/sizes/l/
  74. 74. BUYING EXPERIENCES http://www.flickr.com/photos/dabok/6029437743/sizes/l/
  75. 75. SHARING EXPERIENCES http://www.flickr.com/photos/dabok/6029437743/sizes/l/
  76. 76. DEFINED BY ACCESS TO THINGS http://www.flickr.com/photos/dabok/6029437743/sizes/l/
  77. 77. EMERGING MARKETPLACES AIRBNB RELAYRIDE LENDINGCLUB ANGEL LIST UDEMY,… http://www.flickr.com/photos/dabok/6029437743/sizes/l/
  78. 78. IDEA #1: P2P MARKETPLACES FOR EMERGING IDENTITIES http://www.flickr.com/photos/almostinfamous/5063718679/sizes/l/
  79. 79. http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ WILL HAVE 18 JOBS BY THE AGE OF 36 YOUTH TODAY
  80. 80. http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ AND THAT’S OK
  81. 81. http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ OF JOB IS CHANGING DEFINITION
  82. 82. GLOBAL WORKFORCE ODESK ELANCE,… http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
  83. 83. 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
  84. 84. http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ BIGGER WORKFORCE BIGGER PLANET
  85. 85. http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ ALONE WHEN HE SHOUTED EUREKA ARCHIMEDES WASN’T
  86. 86. http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ IN THE CITY OF SYRACUSE HE WAS
  87. 87. http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ AT THE CENTER OF INNOVATION CITIES ARE
  88. 88. SUPER-LINEARITY http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ Source: MIT
  89. 89. PEOPLE ONLINE 1995 2000 2005 2010 2012 2020 5000000000 2029000000 201900000101900000411000004400000 http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ Source:World Bank
  90. 90. http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ AT THE CENTER OF INNOVATION THE INTERNET IS
  91. 91. http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ THE NEW CITY THE INTERNET IS
  92. 92. http://www.flickr.com/photos/pedromourapinheiro/2559028008/sizes/l/ A GLOCAL CITY
  93. 93. IDEA #2: LEVERAGE THE EMERGING NODAL WORKFORCE http://www.flickr.com/photos/almostinfamous/5063718679/sizes/l/
  94. 94. ALWAYS ON http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ TECH SAVVY RICH SILICON VALLEY IS
  95. 95. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ OF TRADERS WITH LIMITED RESOURCES IN A WORLD
  96. 96. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ OF SHARERS WITH LIMITED RESOURCES IN A WORLD
  97. 97. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ ALWAYS DEALT WITH LIMITED RESOURCES EMERGING MARKETS
  98. 98. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ AND PEOPLE DEALT WITH LIMITED RESOURCES JOBS WERE HARDER TO GET
  99. 99. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ WITH LIMITED RESOURCES COMES NO CHOICE BUT TO ACCELERATE
  100. 100. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ BREAKING CONVENTIONS ACCELERATE
  101. 101. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ IDEAS ACCELERATE
  102. 102. 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
  103. 103. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ IDEAS ACCELERATE
  104. 104. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ IDEAS REPLICATION
  105. 105. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ and http://www.flickr.com/photos/koreanet/8559421022/sizes/l ORIGINAL?
  106. 106. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ HATING COPY IS INSANITY
  107. 107. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ IDEAS V. EXECUTION
  108. 108. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ ADAPT TO LIMITED RESOURCES
  109. 109. 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
  110. 110. NOT ALWAYS ON? http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ NOT TECH SAVVY? NOT RICH?
  111. 111. DIFFERENT MODEL http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
  112. 112. CONSTRAINED MODEL http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
  113. 113. EFFICIENT MODEL http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
  114. 114. http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ 0 20 40 60 80 2008 2012 31 25 69 75 INDUS EMERGING INNOVATION OUTPUT
  115. 115. REPLICABLE MODEL http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ ACROSS CULTURES
  116. 116. RADICAL MODEL http://www.flickr.com/photos/michmutters/8165243392/sizes/l/
  117. 117. CORPORATE INVESTMENT http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ > VC INVESTMENT
  118. 118. SOCIALLY GOOD http://www.flickr.com/photos/michmutters/8165243392/sizes/l/ MODEL
  119. 119. IDEA #3: ADOPT THE EMERGING MARKET CREED http://www.flickr.com/photos/almostinfamous/5063718679/sizes/l/
  120. 120. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE SUCKS?
  121. 121. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ PERCEIVED DISADVANTAGES BECOME A FORCE
  122. 122. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ MYTHS OF LAZINESS BECOMES A FORCE
  123. 123. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREEKS SLEEP ALL THE TIME SLEEP EMPOWERS CREATIVITY Source: University of North Carolina
  124. 124. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREEKS ARE DREAMERS DAY DREAMING PUSHES Source: British Psychological Society of Occupational Psychology CREATIVITY
  125. 125. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREEKS ARE ROMANTICS FICTION FUELS CREATIVITY Source: University of Toronto & RESISTANCE TO DISORDER
  126. 126. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREEKS ARE NOISY HUMAN NOISE Source: University of Illinois FUELS CREATIVITY
  127. 127. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREEKS STAY OUTDOORS GOING OUT Source: University of Kansas FUELS CREATIVITY
  128. 128. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE SUCKS?
  129. 129. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE IS A STARTUP
  130. 130. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE CAN BEAT THE PIONEER GAP
  131. 131. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ BY ADOPTING THE EMERGING CREED
  132. 132. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE HAS THE TALENT
  133. 133. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE HAS THE PASSION
  134. 134. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE HAS THE CREATIVITY
  135. 135. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE IS BUILT FOR
  136. 136. ENGAGEMENT CONVENIENCE http://www.flickr.com/photos/jonk/7396078358/sizes/l/ PERSONALIZATION MEANING
  137. 137. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE HAS NO CHOICE
  138. 138. http://www.flickr.com/photos/jonk/7396078358/sizes/l/ GREECE HAS TO EMERGE FROM CRISIS TO CATHARSIS
  139. 139. THANK YOU. @papadimitriou FB/LI: paulpapadimitriou paulpapadimitriou.com http://www.flickr.com/photos/boklm/9059701815/sizes/l

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