The Business Revolution - #HIMC NYC 1/12

The Business
Revolution.

Hyper Island Master Class
© 2011 co:collective llc
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Terrible time to IM with your assistant, great time
to though.

(psst - #HIMC)
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Hi, I’m
@darrellwhitelaw.
Technology Experience Lead / co:collective

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We all have a past.

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2 studios
a bunch of people
lots of money
2 years

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Proof it works.

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Evolving Business
Models.

© 2011 co: collective llc
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The definition of “business model”

A business model describes the rationale of how an
organization creates, delivers, and captures value.

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Every business
changes, it’s just a
question of how
gracefully they do it.
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A short story.

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(©1888)
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At it’s peak.

• pioneer in technology in the late 1800’s
• built a digital camera by 1975
• accounted for 90% of film sales in US in 1976
• regularly rated one of the 5 most valuable brands
• revenue of $16B in 1996
• 145,000 employees

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Forecasted the death
of film would be
2010 . . . in 1979

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Today.

• will be bankrupt unless it sells off 1000 patents
• restructuring into multiple business units
• nine quarterly losses in three years
• revenue of $6.2B
• share price has fallen 90% in one year
• ~1,450 employees

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Pretty much the
same leader as
Kodak in Asia.

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Today.

• operating in several successful (new) markets
• consistent YoY gains
• 40% share of photofinishing market
• 78,862 employees
• generally not fucked

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The similarities

• both companies
• both made film at one point
• both had their business rendered obsolete

(I’d argue it stops there)

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Kodak

A culture of complacency:

• took too long to make acquisitions

• management held onto film business

• perfectionist mindset in new business channels

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Fuji

An early three-pronged strategy:

• squeeze as much money out of the film business
as possible

• prepare for the switch to digital

• develop new business lines.
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Don’t be lazy.
Don’t be irresponsible.

Shigetaka Komori
CEO - Fujifilm
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Kodak acted like a
stereotypical change-
resistant Japanese firm,
while Fujifilm acted like a
flexible American one.
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The lesson is?

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What worked in 1912 won’t
work in 2012. unless your
industry is crochet.
And then it’s probably automated, so there.

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Because
change is
hard, costs
money and
is risky.

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But I can assure you of 3 things.
Death, taxes and the CMO will
be gone in 18 months.
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Innovate early, often and
aggressively.
Know your company CAN
change.
Predict market changes
and act accordingly.
Find a tolerance point
between awesome and
profitable
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Curation &
Community.

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1934 - 2003 1989 - Present

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MCA built an empire
based on music as a
commodity.

It worked for years.

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Then the bottom fell out

Uh oh.

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Matador on the other
hand focused on
curating a culture, and
adding value to a scene
and community.

It’s still working.

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Old media will adapt to find new
models of consumption

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“The key discovery
is that we’re not
just driving digital
growth, we’re
driving analog
growth.”
- Lisa Hsia, VP New Media Bravo

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Outlive

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There is no silver
bullet for longevity.

(don’t sleep!)

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Netflix, July – November 2011

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Every giant will fall
and every innovator
will make a mistake.

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But try to stay positive.

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The goal is to learn to
change rapidly to
recover and thrive.

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Thanks!
Get at me, @darrellwhitelaw or darrell@darrellwhitelaw.com if you’re legacy.

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The Business Revolution - #HIMC NYC 1/12

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