American - Businessman | January 31, 1961 -
Your innovation can create new winners and losers; or at the very least, make existing companies look fresh and innovative by partnering with you. Everyone wants to align with market makers.
Jay Samit
InnovationYouLookCreateNew
As a serial investor who has raised hundreds of millions of dollars for startups, I know that the business plans coming out of incubators tend to be vetted and more thoroughly validated. The incubator's input into your business plan will make you look far more polished and experienced - even if you have never run a business before.
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Historically, more media has been consumed sitting in front of the television than any other device. Controlling this screen has been the goal of major technology, consumer electronic, and telecommunications companies.
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Microsoft first entered the living room with Ultimate TV way back in 2000 - a year before Apple's first iPod was announced. Ultimate TV offered consumers a DVR and supporting online services, including 14 days of programming and the ability to record 35 hours of programming. Microsoft's reach was then thwarted when Echostar acquired DIRECTV.
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Television programming is the number one topic on Twitter, and dozens of start-ups in the social space are linking second-screen experiences. People no longer need to sit on the same couch to enjoy a show together.
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To effectively reach consumers in the new social environment, brand managers need to learn how to translate their budgets into the digital realm, which also means understanding the advantages that digital can provide over television advertising.
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While commercials interrupt consumers' enjoyment of a TV program, social media allows video to enter the conversation between friends in a non-intrusive way with an opt-in choice.
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Consumers value their personal time and are loyal to those companies that make their lives more productive. Brands gaining some of the biggest successes in social media are engaging with millions of consumers through value exchange.
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The Industrial Revolution was about making physical things. Many of the manufactured goods that were once tangible objects have now been reduced to bits and bytes of data.
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Distributers don't need massive amounts of square feet to stock digital products. Retailers don't need brick-and-mortar stores to sell them. The entire supply chain for these select items has been permanently dematerialized. The marketplace has been blown to bits.
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Startups are now creating specialized 3-D printers capable of producing everything from synthetic hamburgers to multi-story apartment buildings.
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Just as the music industry couldn't combat the financial impact of digital piracy, major corporations will have to rethink how to maintain margins when many of their most profitable items can be easily manufactured at home.
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