Technology, Craft, and Building Local Economies

Presentation to the NC East Alliance (economic development organization for eastern NC), April 2018

Detailed notes in this blog post: https://blog.chaddickerson.com/2018/04/13/technology-craft-and-local-economies/

Transcript

1. TECHNOLOGY, CRAFT, AND
   BUILDING LOCAL ECONOMIES
   CHAD DICKERSON

   2018 NC EAST STATE OF THE REGION

   APRIL 10, 2018
   

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8. LIFE IS MOVING
   FASTER THAN EVER.
   

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9. TECHNOLOGY ADOPTION: YEARS UNTIL USED BY 25% OF POPULATION
   Source: https://www.vox.com/2014/4/20/5624018/should-technology-define-generations
   

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10. MOBILE USAGE: % OF WEB PAGES SERVED TO MOBILE DEVICES
    Source: https://www.statista.com/statistics/241462/global-mobile-phone-website-traffic-share/
    

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11. THE FOURTH INDUSTRIAL REVOLUTION
    ▸ First Industrial Revolution

    water and steam power to mechanize production 

    ▸ Second Industrial Revolution

    electric power to create mass production 

    ▸ Third Industrial Revolution

    electronics and information technology to automate production 

    ▸ Fourth Industrial Revolution - where we are today

    a fusion of technologies that is blurring the lines
    between physical, digital, and biological
    Source: https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond/
    

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12. TEXT
    ▸ First Industrial Revolution

    water and steam power to mechanize production 

    ▸ Second Industrial Revolution

    electric power to create mass production 

    ▸ Third Industrial Revolution

    electronics and information technology to automate production 

    ▸ Fourth Industrial Revolution

    a fusion of technologies that is blurring the lines between physical, digital, and
    biological
    

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13. TEXT
    ▸ First Industrial Revolution

    water and steam power to mechanize production 

    ▸ Second Industrial Revolution

    electric power to create mass production 

    ▸ Third Industrial Revolution

    electronics and information technology to automate production 

    ▸ Fourth Industrial Revolution

    a fusion of technologies that is blurring the lines between physical, digital, and
    biological
    

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15. IMPOSSIBLE FOODS STARTED IN 2011 

    AND HAS $389 MILLION IN FUNDING
    

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17. DESIRE TO SLOW
    THINGS DOWN
    

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18. IN THIS AGE OF FAST, THERE IS 

    MORE DESIRE FOR SLOW THAN EVER
    

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20. [IMAGE: PEOPLE
    KNITTING TODAY]
    

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21. [IMAGE: PEOPLE
    KNITTING TODAY]
    

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22. [IMAGE: PEOPLE
    KNITTING TODAY]
    

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23. [IMAGE: PEOPLE
    KNITTING TODAY]
    

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24. ?
    

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25. RISE OF MILLENNIALS

    CHANGING NATURE OF WORK

    

    GROWING MARKET FOR SMALL/UNIQUE
    

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26. RISE OF MILLENNIALS

    CHANGING NATURE OF WORK

    

    GROWING MARKET FOR SMALL/UNIQUE
    

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27. RISE OF MILLENNIALS
    ▸ Web natives
    ▸ Largest generation: 77 million strong (24% of
    population)
    ▸ Will control $24 trillion in wealth by 2020
    Source:
    
    https://www.fastcompany.com/40477211/as-millennials-demand-more-meaning-older-brands-are-not-aging-well
    
    

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28. COMMODITY RETAIL HAS MOVED TO THE PHONE
    

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29. MILLENNIALS LIVE AND SPEND DIFFERENTLY
    ▸ 62% want to live in mixed-use communities
    where they live in close proximity to a mix of
    shopping, restaurants, and offices
    ▸ 78% would rather spend $$$ on experiences
    than goods
    Sources:
    
    https://www.cnbc.com/2016/05/05/millennials-are-prioritizing-experiences-over-stuff.html
    
    http://eventbrite-s3.s3.amazonaws.com/marketing/Millennials_Research/Gen_PR_Final.pdf
    

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30. RISE OF MILLENNIALS

    CHANGING NATURE OF WORK

    

    GROWING MARKET FOR SMALL/UNIQUE
    

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31. FREELANCERS WILL BE MAJORITY OF WORKFORCE IN 2027
    Source: https://www.slideshare.net/upwork/freelancing-in-america-2017/1 (slide 18)
    

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32. FREELANCING LED BY MILLENNIALS
    Source: https://www.slideshare.net/upwork/freelancing-in-america-2017/1 (slide 21)
    

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33. https://www.coursera.org/learn/cryptocurrency
    

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34. https://www.coursera.org/learn/machine-learning
    

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35. https://www.codecademy.com/catalog/subject/programming
    

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36. https://www.masterclass.com/classes/frank-gehry-teaches-design-and-architecture
    

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39. ON-DEMAND ECONOMY AT YOUR FINGERTIPS
    ▸ Education: Coursera, MIT OpenCourseware, Codecademy
    ▸ Online business: Etsy, eBay, Amazon, Shopify
    ▸ Raw computing power: Amazon Web Services
    ▸ Office space: WeWork (raised $2.8B, $20B valuation)
    ▸ Communications tools: Slack, Google Apps
    ▸ Business software: QuickBooks Online
    ▸ Physical goods: Amazon Prime
    

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40. LOCATION-LESS COMPANIES
    

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43. AUTOMATTIC (MAKERS OF WORDPRESS)
    ▸ Raised $317M since founding in 2005, valued in the billions
    ▸ 140 million people worldwide use their product
    ▸ Distributed, all-remote workforce: 450 employees in 45
    countries
    ▸ Tools: Slack, Zoom (video conference)
    ▸ Matt Mullenweg, CEO (age 34): “I can imagine Automattic
    as a company with thousands of remote employees.”
    Sources:
    
    https://venturebeat.com/2018/03/05/wordpress-now-powers-30-of-websites/
    
    https://qz.com/694410/automattic-has-figured-out-the-right-tools-for-remote-working/
    

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45. INVISION
    ▸ Raised $235M from investors since founding in 2011
    ▸ Valued at $1 billion
    ▸ 3.5 million users of product; 80% of Fortune 100
    ▸ Distributed, all-remote workforce: hundreds of employees
    in 40 US states and 25 countries
    Sources:

    https://boards.greenhouse.io/invision/jobs/1034756 (job posting)

    https://www.wsj.com/articles/invision-rides-design-demands-to-1-billion-valuation-1509541200 

    https://www.crunchbase.com/search/funding_rounds/field/organizations/funding_total/invisionapp 

    

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46. Source: https://www.invisionapp.com/company
    

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47. RISE OF MILLENNIALS

    CHANGING NATURE OF WORK

    

    GROWING MARKET FOR SMALL/UNIQUE
    

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48. “CRAFT BUSINESS” IS BOOMING.
    

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50. https://www.etsy.com/shop/jewelryvv
    

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51. https://www.etsy.com/shop/RememberNovemberInc
    

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52. $2.8B GLOBAL SALES 

    ON ETSY IN 2016
    

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53. CRAFT BEER BEGINNINGS
    2010
    4
    

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54. CRAFT BEER TAKEOVER
    2015
    8
    

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55. CRAFT BEER TAKEOVER
    2016
    12
    

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56. CRAFT BEER TAKEOVER
    2017-2018
    27
    

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57. TEXT
    Source: https://www.wsj.com/articles/budweiser-ditches-the-clydesdales-for-jay-z-1416784086
    

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60. FOOD AND BEVERAGE COMPANIES: SMALL OUTPERFORMING LARGE IN 18 OF 25 TOP CATEGORIES
    Source: https://www.strategy-business.com/article/00197
    

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61. RISE OF MILLENNIALS

    CHANGING NATURE OF WORK

    

    GROWING MARKET FOR SMALL/UNIQUE
    

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62. IMPLICATIONS FOR 

    LOCAL ECONOMIES
    

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63. MANY SMALL

    VS. 

    FEW (OR ONE) BIG
    

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65. Sources:
    
    https://www.citizen-times.com/story/money/2016/03/19/guest-column-asheville-beer-jobs-provide-opportunities/81909220/
    
    https://www.citizen-times.com/story/news/local/2015/06/06/breweries-pay-living-wage-attract-good-workforce/28600173/
    

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66. MAKE YOUR COMMUNITY ATTRACTIVE

    FOR FREELANCERS
    

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71. Source: https://www.wsj.com/articles/nestor-davidson-and-olivier-sylvain-an-old-tobacco-town-battles-over-smokin-fast-broadband-1409956682
    

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72. ASSUME EVERYTHING IS GLOBAL
    FROM DAY ONE
    

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74. GLOBAL ADVERTISING IN MINUTES
    

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75. ANYONE CAN ADVERTISE TO A GLOBAL AUDIENCE NOW
    Source: https://www.marketingcharts.com/television-79007
    

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77. LOCAL CULTURE MATTERS. 

    

    A LOT.
    

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78. https://uptowngreenville.com/
    

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79. GlasStation: http://www.ecu.edu/cs-cfac/soad/GlasStation.cfm
    

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80. RISK
    

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81. SO, PLACE DOESN’T MATTER.

    

    BUT - PLACE MATTERS MORE THAN EVER.
    

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82. THANK YOU.
    

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