00:00you see super apps are here to stay and
00:02the big Internet giants in the States
00:04already get it this trend is coming from
00:24with so much technology and innovation
00:27in our everyday lives sometimes it's
00:30easy to wonder are we at the end of
00:32innovation for consumer tech I believe
00:36we're still at the beginning of a lot of
00:38change to come and today I'm gonna talk
00:40about four trends that I'm keeping an
00:42eye on and that I'm really excited about
00:45the first one is that everything will
00:47become a super app companies will start
00:51working together to better understand
00:53their customers and discover new revenue
00:56streams by offering them more unique
00:58products and services second everything
01:01becomes commerce all the time that we're
01:04spending in our entertainment apps
01:05whether they're video apps social media
01:07apps messaging apps we will be shopping
01:09from these apps in the near future
01:13third the idea that technology will mold
01:16more into our physical world the way
01:18that we interact with the Internet will
01:20no longer just be on these small little
01:22screens but will be connecting our
01:25digital identities with our physical
01:27ones and lastly it's a massive explosion
01:31of audio consumption we are wall to wall
01:33covered with podcasts now and what does
01:36that mean for all of us and how do we
01:38take advantage of that opportunity so
01:41let me start out with the first idea of
01:42everything becoming a super up according
01:45to eMarketer in 2019 this is the year
01:48that we will be spending more times on
01:49our cell phones than watching television
01:533 hours and 43 minutes but you see the
01:57problem is the average person is
01:59spending over three hours of that time
02:02in apps and only the small remainders
02:06being spent in the mobile browser so the
02:09longtail the Internet is not migrating
02:12over to the phone you couple that with
02:15this other problem which is that people
02:17are not downloading as many apps in fact
02:20the average person will download zero
02:22apps every month what does that mean for
02:25all of us and how do we fix the problem
02:27well I believe the answer is super apps
02:30a super apps is what will rescue us this
02:33is a picture of mate one this is a food
02:38a very popular food delivery service
02:40that you used to order your lunch and
02:42your dinner in 2013 they started
02:46thinking about what other revenue
02:49streams that could create they added a
02:51button on top where you could start
02:53booking Hotel nights and today they are
02:56responsible for booking over 50% of the
02:59hotel nights in China and the previous
03:03big player sea trip is down to low 20%
03:09that's not it may try and also will go
03:12into sharing bikes or you can use it to
03:15find all kinds of attractions nightlife
03:18movie tickets and much more they are
03:21taking a high-frequency low-margin
03:23business of food delivery and tacking on
03:27low frequency high margin businesses at
03:30low or zero customer acquisition costs
03:33they are leveraging their distribution
03:36they are leveraging their understanding
03:37of customers and thinking what other
03:39revenue streams can I create with that
03:42mindshare matron is just one of many
03:46examples and china you also have WeChat
03:48you also have Ali pay in Southeast Asia
03:51we have go check that is not used just
03:53for transportation but also used to even
03:55book beauty appointments find movie
03:58services you can even use it to top up
04:02your mobile payment plan and in the u.s.
04:04we have uber transforming itself from a
04:08transportation company to being the
04:11operating system for our everyday lives
04:13you see super apps are here to stay and
04:16the big internet giants in the States
04:18already get it this trend is coming from
04:22east to west so what does that mean for
04:26all of us here some of us are lucky
04:28enough to be working at companies that
04:30are part of those sweet spot of apps
04:33that people use on a daily weekly
04:35monthly basis but many of us live in
04:38that long tail the internet so what do
04:42what is your super apps strategy if you
04:46are lucky enough to be one of those high
04:48frequency used apps what our new revenue
04:52you can be introducing to your customer
04:53and if you're not what are other big
04:57existing apps that you can start
04:59partnering with what do you uniquely
05:03know about your customer that can add
05:04extra value to one of those big players
05:08let me give an example of how you can
05:11discover your hidden data asset Spotify
05:15a music streaming service knows a lot
05:18about my musical interests they know
05:20which artists I like with their addition
05:24of podcasts they now know much more
05:27about me if I listen to the
05:29BiggerPockets podcast they know I'm most
05:31likely a landlord and I love real estate
05:34but what else can this data be used for
05:37you see actually Spotify could use that
05:40data and help artists and concert
05:43promoters figure out which cities they
05:45should be touring it they should use
05:47data to inform themselves should I spend
05:49one more night in New York or should I
05:51use that day instead at the Staples
05:53Center in fact they should be able to
05:56work with artists and tell them how to
05:58personalize their playlists for every
06:02single City and change your places to
06:05show what your listeners love most in
06:07that particular City those are new
06:09revenue streams that Spotify can unlock
06:12by discovering their hidden data assets
06:14and who thought a music streaming app
06:16could have such a huge impact on
06:18concerts and live promotions
06:22similarly who thought a short video app
06:26could also empower all kinds of commerce
06:29the second big trend is that everything
06:32is going to become commerce and
06:34transaction related we spend a lot of
06:38time in these apps video apps
06:40communication apps social media apps in
06:43addition to having our mind share and
06:46knowing a decent amount about us they
06:49are actually perfect distribution
06:50vehicles for commercials that we
06:53actually want to watch let me show you
06:57what that means these are video and live
07:00streaming apps and short video apps in
07:03here's a quick example on the Left
07:05you'll see a farmer take you to his
07:10orange orchard he will slice out orange
07:13in front of your eyes and I think this
07:17is the best commercial for fruit that I
07:22imagine yourself lying in bed at
07:24midnight scrolling through a feed of
07:27videos seeing something like this your
07:31mouth starts watering and you would love
07:34to buy a box of those oranges
07:36well the platform lets you do that you
07:40see that little thing that little white
07:41box the user just has to tap on it and a
07:45couple of taps later they get a box of
07:48those delicious oranges shipped right to
07:51their door this is already happening in
07:55other countries and if you're wondering
07:57how are all these video short video apps
07:59going to monetize in the States this is
08:01a very real possibility here's another
08:05example this fisherman is showing you
08:07how he's catching the lobster that you
08:10can order and when you click through it
08:13you can even get recipes on how to cook
08:15the siliceous seafood we hear about this
08:18phrase farm-to-table and in the States
08:21we just have this vague concept but this
08:25is what farm-to-table really looks like
08:27this is what authenticity and context
08:31really looks like and it's already
08:35the third big trend I wanted to talk
08:38about is how technology is going to show
08:40it more and more in our physical world
08:43right now in China you already see
08:46airports testing these kiosks where with
08:48facial recognition they tell you exactly
08:50what gate to go to and how to get there
08:55you also have examples of classrooms
08:58that are leveraging facial technology to
09:01take attendance we can no longer get
09:04away with asking your classmates to sign
09:06in for either now some of this could be
09:09a little spooky and we wonder as
09:11facial-recognition ever going to be a
09:13big thing in the States it's already
09:18you see Delta Airlines is actually
09:20testing facial recognition in some
09:22international airports for check-in and
09:24boarding and 72% of people who use it
09:27prefer it to previous standard methods
09:30we have private schools in New York
09:33leveraging facial recognition to look
09:36for guns and also people that shouldn't
09:39be on campus so whether we like it or
09:43facial recognition is already being
09:45experimented with and it unlocks new
09:48opportunities this is another example of
09:52technology showing up in our physical
09:55world this is a demo of a UK company
09:58that signed a two-year exclusive with
10:00$0.10 and they're overlaying all kinds
10:04of advertisements and pre-recorded video
10:09can you imagine watching your favorite
10:11movie from the 70s or 80s showcasing
10:14brands that you shop from today this
10:18technology is already live and being
10:21used commercially and lastly one of my
10:26favorite trends your share is the new
10:29mind share we are listening to more
10:33podcasts than ever before
10:35audio consumption is exploding and so
10:39much of that is driven by the smartphone
10:42but it's more than just a smartphone
10:45it's also hardware but our creation
10:48tools and found time people now have
10:50wireless earbuds that help you listen to
10:53podcasts on the go you have your
10:56connected cars you have smart speakers
10:58at home but our creation tools means
11:00that anyone can create their own podcast
11:03series from their bedrooms and the
11:07glorious magical moment of realizing
11:10that you have found time you see I can
11:13listen to a podcast when I'm cooking
11:15breakfast when I'm nursing my kid when
11:19I'm driving all those moments that used
11:23to be somewhat mindless I can now use to
11:26embrace and consume audio contests in
11:29fact audio if you think about it
11:32is a marketers dream you are literally
11:36in their heads you are literally in
11:37their ears they are a captive audience
11:39to you and studies and numbers have
11:42already shown it to be a very effective
11:45low-cost customer acquisition strategy
11:48so what is this consumption of audio and
11:51podcasts mean for us I think it means we
11:54now need to start thinking what does
11:56audio first content look like you see a
12:01decade ago we started thinking what does
12:03mobile first product look like we
12:07started leveraging the camera we started
12:09leveraging the GPS and that brought us
12:11great companies like Instagram or lyft
12:14what does audio first thinking look like
12:18because audio allows you to introduce
12:22all kinds of magical moments whether
12:24they're sound effects different narrated
12:26voices this is a seed company that we
12:29invested in this year called knowable
12:31they offer luxury premium curated cardio
12:34courses on a variety of topics that
12:37people would pay money for
12:38for example how to launch a startup how
12:41to start a podcast how to speak
12:43confidently how to sleep better how to
12:45buy your first home and thinking audio
12:49first of course they have sound effects
12:52of course they're narrated by different
12:54voices but they go a step further they
12:58combined audio first thinking with super
13:01app thinking and they start thinking
13:02customer-centric as opposed to just
13:04product centric so what does that look
13:07like if you bought this class how to
13:10launch a startup you're probably pretty
13:12serious about starting a business so
13:15they're already working with AWS so that
13:17anyone who buys this course is gonna get
13:20a thousand dollars of free credits for
13:22AWS think about all the other kinds of
13:26partner membership benefits that can be
13:29offered for something like how to sleep
13:31better or a very lucrative topic how to
13:35buy your first home what are all the
13:37benefits that can be packaged into that
13:40course that's audio first thinking
13:42combined with super app thinking and
13:44is powerful you combine these trends
13:49together and this is why I'm still so
13:51excited about the future of consumer
13:52tech we're going to see more and more
13:54super apps companies realize that their
13:57distribution is powerful and they can
13:59leverage that for new revenue streams
14:01with more business partners more comics
14:04is going to start showing up in your
14:06video apps and your social media apps in
14:08your messaging apps we're going to be
14:10shopping seamlessly and commercials are
14:12going to start getting better we're
14:16going to start thinking about an audio
14:18first world we're gonna see more tech
14:20and software permeate our physical
14:22worlds and we're all going to start
14:25figuring out that super apps means we
14:27need to work together let me give you
14:31one last analogy to kind of crystallize
14:33what this thinking means imagine that
14:37you are getting married you don't have a
14:39wedding planner and so you go to a
14:41wedding venue and you're ready to book
14:44that wedding venue probably has a
14:46recommendation for a florist a
14:49photographer they probably even have
14:53recommendations for a caterer or a
14:55wedding planner that's because the
14:58offline world always understood how to
15:01think in a customer-centric way as
15:03opposed to a product centric way that's
15:06why you buy magazines at the grocery
15:09store they know how to maximize revenue
15:12with every square foot we need to take
15:16that same thinking of who is our
15:19customer what other random services or
15:21products might they need that might not
15:24even be related to my core service and
15:26how can I help offer them that with my
15:29distribution power we need to start
15:32uncovering what our hidden data assets
15:34are and brainstorming what new revenue
15:36streams can come from that and we're
15:40gonna start working together to unlock
15:42this great opportunity before us thank
