He highlights 3 major changes in technology
1. Ubiquitous Access
2. Cheap Storage
3. Falling Costs of Production
A few interesting points he raised:
- Google Wave released today. Its a new product which integrates many social features like photos and comments. My initial reaction was that it looks an awful lot like Google's version of Facebook.
- there are 20h of video uploaded every 5 minutes on Youtube. There is a shift towards paid premium content which has major implications for the media and advertising industry
- Google's search page has a unique web metric: "Get people OFF our website as fast as possible". They recognize that they are always "one click away from losing market share" and as a result have four focuses for their search engine:
1. Size of index
2. Speed
3. Relevancy
4. User Experience
- they have developed Ad Exchange, a sort of stock exchange of advertising (spot prices). They hope to improve on what they percieve as the inefficiency in display ads
Google's DNA
1. Innovation, not Instant Perfection - Launch early and often
2. Focus on the User and All Else Will Follow
What is scarce? User patience
3. You don't have to be at your desktop need an answer
4. A License to Pursue Your Dreams - 20% Projects
Google News as a needs based project organically spawned from the events of Sept 11
5. Data is Apolitical
6. Morph Projects, Don't kill them
7. Share as much information as you can
8. Make money without being evil
9. Creativity loves constraints
Prognosticate - 5 Google Myths
1. Big beats small: fast beats slow
2 . You need all 4P's: for many brands there are now just 3P's (not price, promotion is less relevant - free flow of info) - Youtube symphony, place reduced by globalization, product is staring role
3. Mass marketing is impersonal: today it is possible to engage 1:1 - on a mass scale
4. Marketing can't be accountable: marketing is the new finance (60s / 70s - tied to actions and responses) - quants are starting to move from Wall st to Madison ave
5. Management comes from the top: - Wisdom of crowds is creating a new bottom-up style of management. For example, Doodle for Google - a project getting kids to design Google's logo: Egypt orphanages and the "my Egypt" project
One of the notable points he mentioned is that creativity thrives with constraints. A very counter intuitive argument, he explained how when you are faced with constraints it requires to you to create unique solutions to overcome those challenges.
I apologize for the format of my notes, but there was so many interesting points it was tricky capturing all of it.
Sent from my BlackBerry device on the Rogers Wireless Network
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