Podcast Summary
Being the first mover in innovative tech could lead to major advantages, like Netflix during DVD era or Nintendo during holidays.: Stay informed and be an early adopter of emerging technologies like voice, blockchain, VR, AR, or unforeseen inventions for potential benefits.
Voice technology is a potential game-changer and could be the next major innovation, similar to how Netflix became a household name during the DVD player era or how Nintendo dominated the Hanukkah and Christmas seasons with their consoles. Gary Vaynerchuk emphasizes the importance of being the first mover in such scenarios and encourages listeners to follow him on his text platform (212-931-5731) for motivational messages and potential advantages. He believes that the future of technology may involve layering on top of existing platforms like blockchain, voice, VR, AR, or even an unforeseen invention. His expertise lies in identifying the framework and being the first layer above it. Therefore, staying informed and being an early adopter could lead to significant benefits.
A new digital era for young generations: Young children are becoming digitally literate and using technology for information and entertainment at increasingly young ages, signaling a significant shift in human behavior.
We are witnessing a significant shift in human behavior towards relying on technology for information and entertainment, even at a very young age. This trend, which may seem strange or unusual to some, is compared to the early days of other technological innovations like computers, smartphones, and online dating. Despite initial skepticism, it's clear that this trend is already happening and will only continue to grow. For example, children as young as three years old are using the internet to access content without any help, demonstrating a new level of digital literacy. This shift is not just about search capabilities, but about everything the internet offers, making it the new highway for information and entertainment. As technology continues to advance, it's important to recognize and adapt to these changes in human behavior.
Identifying opportunities in emerging trends: Stay informed, observe trends, understand demographic appeal, and position yourself at the top of the funnel to maximize understanding and minimize initial financial risk.
It's essential to stay informed and attentive to emerging trends, but not to invest heavily until the market matures. The speaker shared his experiences with identifying opportunities in TikTok and Snapchat, noting that being an early observer allowed him to capitalize on the platforms' growth without initial financial investment. Instead, he suggested focusing on time investment and learning as much as possible about the trend to position oneself for future opportunities. The speaker's approach involves observing trends, understanding their potential demographic appeal, and positioning oneself at the top of the funnel to attract opportunities. This strategy allows individuals to maximize their understanding of emerging markets while minimizing initial financial risk.
Voice Technology's Potential for Businesses: Early adoption of voice technology can lead to opportunities and competitive advantage, despite current lack of profitability. Timing is crucial in capitalizing on emerging trends, as seen with Netflix and Nintendo.
Voice technology is an emerging trend with significant potential for businesses, and being an early adopter can lead to opportunities and competitive advantage. The speaker, who works at Vayner and has a team focused on voice, believes that voice technology is not yet profitable for them, but they are investing time and resources into it due to its potential. He compares the current state of voice technology to past technological shifts, such as the rise of Netflix or Nintendo, which became major players after a critical mass of consumers adopted the technology. The speaker also emphasizes the importance of timing in capitalizing on emerging trends. He has a knack for recognizing what's coming next and has invested in Yo Bongo, a company in the voice technology space. The speaker's team is building stuff, doing consulting, and staying close to the platforms, preparing for the moment when voice technology becomes a mainstream and profitable business opportunity.
Staying open to various possibilities in tech entrepreneurship: Be adaptable and open to new opportunities in tech entrepreneurship, as ideas can evolve and voice technology may offer new avenues for success
The early days of tech entrepreneurship involved identifying trends and opportunities, even if the specifics were uncertain. Caleb, for instance, had an idea for a mobile app called Yobongo, which could have been anything from a Pokemon collection marketplace to a people discovery platform. The speaker initially dismissed it as a potential dating app, but the concept eventually evolved into Tinder. This experience taught the speaker that being open to various possibilities and scaling hypotheses was crucial. Another key insight from the conversation is the potential of voice technology in entrepreneurship. The speaker suggests looking at companies like OpenTable and Zillow, which built successful platforms on top of search, and applying the same concept to voice. This could involve voice ordering food, buying a home, or accessing various services. Overall, the discussion highlights the importance of staying adaptable and open to new opportunities in the ever-evolving tech landscape.
Filling a specific need and providing excellent customer service: Providing a valuable service and excellent customer service can lead to building a successful business. Listen to inspiring podcasts for motivation and support content creators by leaving reviews and subscribing.
That having a valuable and in-demand service, such as a reliable babysitting app, can lead to building a successful business. Gary Vaynerchuk, the speaker in this podcast episode, emphasized the importance of filling a specific need in the market and providing excellent customer service to grow a company. Additionally, listening to inspiring and motivating content, like this podcast, can help individuals improve their happiness and productivity. The speaker, Gary, shares his real-life experiences and valuable insights, making the content relatable and engaging. Lastly, the importance of leaving reviews and subscribing to podcasts was emphasized. These actions not only support the creators but also help spread the word about valuable content. As Becca Little mentioned in the highlighted review, listening to this podcast has brought her happiness and motivation. Overall, this episode emphasizes the power of providing valuable services, staying motivated, and supporting content creators.
