FTE 2015 - Welcome to the Future - Julie Meyer

The 5th Annual Follow The
Entrepreneur Investor Summit
How Ecosystem Economics™
Explains the Digital Winners
Julie Meyer
@juliemariemeyer
julie@ariadnecapital.com
WELCOME TO THE FUTURE

Sponsors

Social Media
#FollowTheEntrepreneur2015
 Twitter: @Encountry
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Ecosystem Economics™
Three versions of the future

PALO ALTO

The Face of Every Entrepreneur
They just may not show it to you!

The Face of Every Entrepreneur
They just may not show it to you!
They are
willing to
live abnormal
lives
They see
the inevitable
and advance
the Future

Capital Follows Ideas
Always has, always will

The
History

The
History
Let's continue with the
Historical Perspective….

Economic growth since the end of the 18th Century
5 Distinct Stages, associated with 5 successive Technological Revolutions

Lifecycle of Technological Revolution

Age of IT and Telecommunications
50 ish year cycle – 1971 – 20….?
BIG BANG – NOVEMBER 1971 IN SANTA CLARA, CALIFORNIA
Bob Noyce and Gordon Moore launched Intel’s first microprocessor, the precursor of the computer on a chip
INSTALLATION – late 1970’s through to Noughties
1976 – Steve Jobs, Steve Wozniak found Apple Computer
1984 - Michael Dell founds PC’s Limited later named Dell Computer Corporation
1985 – Irwin Jacobs founds QualComm, pioneer in Wireless Communications
1990 – CERN / Tim Berners Lee
1994 – Yahoo founded
2003 – Skype – “free calls on web”
2004 - Facebook founded
THE TURNING POINT

The
Revolution

The
Revolution
The Revolution starts as a
small fact with a BIG
promise and moves to a
significant force
in the market

Technological Revolutions
1999
David with his slingshot wants
to kill Goliath

1999 to 2014
Broadband and
Mobile Technologies
continue
to invade our lives
2015
David and Goliath
must dance

Creative Destruction
defines the problem ….
… Ecosystem Economics™
provides the solution.

The David
& Goliath™
Model

The David/Goliath Grid Model
WELCOME &
BUILDING ENTREPRENEURCOUNTRY

Network-orientated to business
VS

How do I acquire
customers?

Examples of large Corporates engaging with Digital Enablers

Money Dashboard – like “Mint”, for UK consumers

Money Dashboard Insights – unique intelligence on
consumer stocks
Offer to Investment Management
Anticipate trading results
based on near-live data
Identify opportunities /
reduce risk by spotting
inflection points early
Deeply understand revenue
drivers e.g loyalty / switching
2
3
1

Innovation is about Economics not Technology

An opportunity for Goliaths to become platforms

How do I apply it?
 What do I know about my company’s future?
 How should my industry work?
 Who are my Natural Allies?
 How do I determine Product / Market Fit between Goliath,
David and the Individual’s Data?
 How can I iterate fast? E.g. Run Pilots / Trials w/ Digital
Davids (X period of time, Y access to customers, Z material
revenues)

Who are my natural allies?
Your Natural Allies are those players in the market
in whose interest it is for you to win

Shape your Industry by changing your business model

Case Study
Transportation – Addison Lee, Uber & Liftago
• Addison Lee – expanded with technology,
backed by private equity, valued >£1 billion
• Uber has raised billions, expanded into 128 cities, and Uber’s
revenues have been (generously) estimated at around $200m a
year
• Liftago analyses key metrics of the taxi industry:
– 25% of drivers working at any one time
– More capital efficient to empower existing industry w/ tools
than to build a new network (as Uber has done)
– Results So Far include traction similar to Uber
Net net: Jury is out on ROI
© Private & Confidential – Ariadne Capital

Case Study
Financial Services – BeatthatQuote & Google
• Google says that they organise the world’s information
• They actually organise the economics of the world’s information
• I, as a consumer of their search, am not given any economic
upside in the search transaction
• They have built a multi-billion pound business using – albeit
anonymously – my personal data – aggregated with that of
others, but releasing none of the economic value to me
• Their biggest Achilles Heel is if someone in the search space
were to cut a different set of economics for the consumer
• Ariadne Capital found that entrepreneur – the founder of
BeatThatQuote, and sold his business to Google for a 122 EBITDA
multiple for these reasons
and
Ecosystem
Economics
© Private & Confidential – Ariadne Capital

Thank You
#FollowTheEntrepreneur2015
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FTE 2015 - Welcome to the Future - Julie Meyer

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