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
8. LIFE IS MOVING FASTER THAN EVER.
9. TECHNOLOGY ADOPTION: YEARS UNTIL USED BY 25% OF POPULATION Source: https://www.vox.com/2014/4/20/5624018/should-technology-define-generations
10. MOBILE USAGE: % OF WEB PAGES SERVED TO MOBILE DEVICES Source: https://www.statista.com/statistics/241462/global-mobile-phone-website-traffic-share/
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/
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
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
15. IMPOSSIBLE FOODS STARTED IN 2011 
 AND HAS $389 MILLION IN FUNDING
17. DESIRE TO SLOW THINGS DOWN
18. IN THIS AGE OF FAST, THERE IS 
 MORE DESIRE FOR SLOW THAN EVER
20. [IMAGE: PEOPLE KNITTING TODAY]
21. [IMAGE: PEOPLE KNITTING TODAY]
22. [IMAGE: PEOPLE KNITTING TODAY]
23. [IMAGE: PEOPLE KNITTING TODAY]
24. ?
25. RISE OF MILLENNIALS
 CHANGING NATURE OF WORK
 
 GROWING MARKET FOR SMALL/UNIQUE
26. RISE OF MILLENNIALS
 CHANGING NATURE OF WORK
 
 GROWING MARKET FOR SMALL/UNIQUE
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
28. COMMODITY RETAIL HAS MOVED TO THE PHONE
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
30. RISE OF MILLENNIALS
 CHANGING NATURE OF WORK
 
 GROWING MARKET FOR SMALL/UNIQUE
31. FREELANCERS WILL BE MAJORITY OF WORKFORCE IN 2027 Source: https://www.slideshare.net/upwork/freelancing-in-america-2017/1 (slide 18)
32. FREELANCING LED BY MILLENNIALS Source: https://www.slideshare.net/upwork/freelancing-in-america-2017/1 (slide 21)
33. https://www.coursera.org/learn/cryptocurrency
34. https://www.coursera.org/learn/machine-learning
35. https://www.codecademy.com/catalog/subject/programming
36. https://www.masterclass.com/classes/frank-gehry-teaches-design-and-architecture
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
40. LOCATION-LESS COMPANIES
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/
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 

46. Source: https://www.invisionapp.com/company
47. RISE OF MILLENNIALS
 CHANGING NATURE OF WORK
 
 GROWING MARKET FOR SMALL/UNIQUE
48. “CRAFT BUSINESS” IS BOOMING.
50. https://www.etsy.com/shop/jewelryvv
51. https://www.etsy.com/shop/RememberNovemberInc
52. $2.8B GLOBAL SALES 
 ON ETSY IN 2016
53. CRAFT BEER BEGINNINGS 2010 4
54. CRAFT BEER TAKEOVER 2015 8
55. CRAFT BEER TAKEOVER 2016 12
56. CRAFT BEER TAKEOVER 2017-2018 27
57. TEXT Source: https://www.wsj.com/articles/budweiser-ditches-the-clydesdales-for-jay-z-1416784086
60. FOOD AND BEVERAGE COMPANIES: SMALL OUTPERFORMING LARGE IN 18 OF 25 TOP CATEGORIES Source: https://www.strategy-business.com/article/00197
61. RISE OF MILLENNIALS
 CHANGING NATURE OF WORK
 
 GROWING MARKET FOR SMALL/UNIQUE
62. IMPLICATIONS FOR 
 LOCAL ECONOMIES
63. MANY SMALL
 VS. 
 FEW (OR ONE) BIG
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/
66. MAKE YOUR COMMUNITY ATTRACTIVE
 FOR FREELANCERS
71. Source: https://www.wsj.com/articles/nestor-davidson-and-olivier-sylvain-an-old-tobacco-town-battles-over-smokin-fast-broadband-1409956682
72. ASSUME EVERYTHING IS GLOBAL FROM DAY ONE
74. GLOBAL ADVERTISING IN MINUTES
75. ANYONE CAN ADVERTISE TO A GLOBAL AUDIENCE NOW Source: https://www.marketingcharts.com/television-79007
77. LOCAL CULTURE MATTERS. 
 
 A LOT.
78. https://uptowngreenville.com/
79. GlasStation: http://www.ecu.edu/cs-cfac/soad/GlasStation.cfm
80. RISK
81. SO, PLACE DOESN’T MATTER.
 
 BUT - PLACE MATTERS MORE THAN EVER.
82. THANK YOU.