Greece Emerging Market Advantage

GREECE IS A STARTUP:
THE EMERGING
MARKET ADVANTAGE
Paul Papadimitriou — TEDx Athens Salon — Athens — July 2013

GREECE SUCKS
http://www.ﬂickr.com/photos/sudhamshu/3202963823/sizes/l/

DO YOU HAVE A JOB?

64.2%
YOUTH UNEMPLOYMENT
Source: Eurostat, 18-25 y.o

DO YOU WANT TO BECOME A
PUBLIC SERVANT?

JOBS ARE GONE

NO BROADBAND
NO INDUSTRY
NO MONEY

NOT ALWAYS ON
NOT TECH SAVVY
NOT RICH

LIMITED RESOURCES

GREECE SUCKS?

http://www.ﬂickr.com/photos/yo_tuco/3873775866/sizes/o/
JOBS #FAIL WORLDWIDE

2008 CRISIS
WAS DIFFERENT
FROM PREVIOUS CRISIS

POST-CRISIS
GDP RECOVERY
NOT JOBS RECOVERY

THE WORLD HAS
BEEN DISRUPTED

http://www.ﬂickr.com/photos/annamagal/4697076085/sizes/l/
DISRUPTION
IS A DEFLATION GAME

DISRUPTION
MEANS FALLING PRICES

THINK
YOUTUBE V. TELEVISION

1,000,000,000
UNIQUES/MONTHS

YOUTUBE PROVIDES
MASS SCALE
DRAMATICALLY LOWER PRICE

TV
IS ADDICTED TO
LARGE MARGINS

INCUMBENTS
ARE ADDICTED TO
LARGE MARGINS

NOW THINK
EMERGING V. INDUSTRIALIZED

EMERGING MARKETS PROVIDE
MASS SCALE

EMERGING MARKETS PROVIDE
MASS WORKFORCE

THE “WEST”
IS ADDICTED TO
LARGE MARGINS

WE HAD IT
TOO GOOD

BUILT ON
ABUNDANCE OF RESOURCES

ABUNDANCE OF
JOBS
MONEY, RAW MATERIALS,…

THIS IS GONE

WE ARE BEING DISRUPTED

BY EMERGING MARKETS

http://www.ﬂickr.com/photos/anantns/7979597377/sizes/l/
YOU LOVE YOUR
TECHNOLOGY

GLOBAL TECHNOLOGY
Google
MS
FB
Yahoo
0 375 750 1125 1500
US World
Source: Comscore Global 2013

YOU LOVE YOUR
MOBILE TECHNOLOGY

MOBILE EXPLOSION
0
250
500
750
1000
1250
1500
2000 2002 2004 2006 2008 2010 2012
PCs Smartphones & tablets
Source: Benedict Evans, Mobile is Eating the World

Source: Benedict Evans, Mobile is Eating the World
71%
OF LITERATE PEOPLE WILL
HAVE A SMARTPHONE IN 2017

BIGGEST TECH SHIFT EVER
1960 1970 1980 1990 2000 2015
Source: Mary Meeker Internet Trends

YOU LOVE YOUR
WEARABLE TECHNOLOGY

YOU LOVE YOUR
DATA TECHNOLOGY

EVERYTHING WILL
BE CONNECTED

EVERYTHING WILL
TALK TO EACH OTHER

REMEMBER HOW YOU
FLEW

HUMAN ENTRY
HUMAN TO HUMAN
PAPER TICKET

HOW DO YOU FLY
TODAY?

MACHINE ENTRY
MACHINE TO MACHINE
ELECTRONIC TICKET

HOW DO YOU DRIVE
TODAY?

HUMAN DRIVEN
HUMAN TO HUMAN
HUMAN DRIVING

HOW WILL YOU DRIVE
TOMORROW?

DATA DRIVEN
MACHINE TO MACHINE
ELECTRONIC DRIVING

ROBOTIZATION,…
I COULD GO ON
AUTOMATIZATION,

THIS IS A REVOLUTION

AN EFFICIENCY REVOLUTION

NO MORE JOBS
WHO NEEDS HUMANS?

WITHOUT FULL ACCESS?
PROSPERITY

http://www.ﬂickr.com/photos/theqspeaks/6243039829/sizes/l/
SO WHAT NOW?

http://www.ﬂickr.com/photos/theqspeaks/6243039829/sizes/l/
EMERGING IDEAS

http://www.ﬂickr.com/photos/dabok/6029437743/sizes/l/
ARE
EMERGING
NEW IDENTITIES

EMERGED COMMUNITIES
TWITTER
FACEBOOK
DEVIANTART,…

ARE ENABLING
TRUST & OPENNESS
MASS SCALE NETWORKS

TO
P2P IDENTITIES
FROM TOP-DOWN

TRIBALISM
DIFFERENTIATED LIVING
NEW GROUPS DETERMINATION
SHARED ACTUALIZATION

NOMADISM
MOBILITY
AUGMENTED LIVING

SINGULARISM
SELF-CONSTRUCT
NODAL LIVING

NEW SELVES

NEW CONSUMERS

EMPOWERED
& AWARE

LOOKING FOR

ENGAGEMENT
CONVENIENCE
PERSONALIZATION
MEANING

NOT DEFINED BY
THINGS

NOT BUYING
THINGS

DEFINED BY ACCESS TO
EXPERIENCES

BUYING
EXPERIENCES

SHARING
EXPERIENCES

DEFINED BY ACCESS TO
THINGS

EMERGING MARKETPLACES
AIRBNB
RELAYRIDE
LENDINGCLUB
ANGEL LIST
UDEMY,…

IDEA #1:
P2P MARKETPLACES FOR
EMERGING IDENTITIES
http://www.ﬂickr.com/photos/almostinfamous/5063718679/sizes/l/

http://www.ﬂickr.com/photos/pedromourapinheiro/2559028008/sizes/l/
WILL HAVE 18 JOBS
BY THE AGE OF 36
YOUTH TODAY

AND THAT’S OK

OF JOB
IS CHANGING
DEFINITION

GLOBAL WORKFORCE
ODESK
ELANCE,…

WOMEN
WILL ENTER THE WORKFORCE
1,000,000,000
Source: Booz & CO
IN THE NEXT 10 YEARS

BIGGER WORKFORCE
BIGGER PLANET

ALONE WHEN HE SHOUTED
EUREKA
ARCHIMEDES WASN’T

IN THE CITY
OF SYRACUSE
HE WAS

AT THE CENTER OF
INNOVATION
CITIES ARE

SUPER-LINEARITY
Source: MIT

PEOPLE ONLINE
1995 2000 2005 2010 2012 2020
5000000000
2029000000
201900000101900000411000004400000
Source:World Bank

AT THE CENTER OF
INNOVATION
THE INTERNET IS

THE NEW
CITY
THE INTERNET IS

A GLOCAL
CITY

IDEA #2:
LEVERAGE THE EMERGING
NODAL WORKFORCE

ALWAYS ON
http://www.ﬂickr.com/photos/michmutters/8165243392/sizes/l/
TECH SAVVY
RICH
SILICON VALLEY IS

OF TRADERS
WITH LIMITED RESOURCES
IN A WORLD

OF SHARERS
IN A WORLD

ALWAYS DEALT
EMERGING MARKETS

AND PEOPLE DEALT
JOBS WERE HARDER TO GET

COMES NO CHOICE
BUT TO ACCELERATE

BREAKING CONVENTIONS
ACCELERATE

IDEAS
ACCELERATE

0
1
2
3
4
2008
2.4
3.4
3.7
MARKET ACCESS
TECH KNOW HOW
COST
EMERGING FACTORS
Source: Roland Berger

IDEAS
REPLICATION

http://www.ﬂickr.com/photos/michmutters/8165243392/sizes/l/ and http://www.ﬂickr.com/photos/koreanet/8559421022/sizes/l
ORIGINAL?

HATING COPY
IS INSANITY

IDEAS
V. EXECUTION

ADAPT
TO LIMITED RESOURCES

Attributes CharacteristicsCharacteristicsCharacteristicsCharacteristics
Performance Low-low-end Low-end Mid-end High-end
Simplicity SimpleSimple ComplexComplex
Robustness Robust/maintenance-friendlyRobust/maintenance-friendly Fragile/laborious to maintainFragile/laborious to maintain
Economies of scale High volume High to medium volume Medium to low volume Low volume
Pricing Low price Medium price High price Premium price
EMERGING CHARACTERISTICS
Source: Roland Berger

NOT ALWAYS ON?
NOT TECH SAVVY?
NOT RICH?

DIFFERENT MODEL

CONSTRAINED MODEL

EFFICIENT MODEL

0
20
40
60
80
2008 2012
31
25
69
75
INDUS EMERGING
INNOVATION OUTPUT

REPLICABLE MODEL
ACROSS CULTURES

RADICAL MODEL

CORPORATE INVESTMENT
> VC INVESTMENT

SOCIALLY GOOD
MODEL

IDEA #3:
ADOPT THE EMERGING MARKET
CREED

http://www.ﬂickr.com/photos/jonk/7396078358/sizes/l/
GREECE
SUCKS?

PERCEIVED DISADVANTAGES
BECOME A FORCE

MYTHS OF LAZINESS
BECOMES A FORCE

GREEKS SLEEP ALL THE TIME
SLEEP EMPOWERS CREATIVITY
Source: University of North Carolina

GREEKS ARE DREAMERS
DAY DREAMING PUSHES
Source: British Psychological Society of Occupational Psychology
CREATIVITY

GREEKS ARE ROMANTICS
FICTION FUELS CREATIVITY
Source: University of Toronto
& RESISTANCE TO DISORDER

GREEKS ARE NOISY
HUMAN NOISE
Source: University of Illinois
FUELS CREATIVITY

GREEKS STAY OUTDOORS
GOING OUT
Source: University of Kansas
FUELS CREATIVITY

GREECE
IS A STARTUP

GREECE
CAN BEAT THE
PIONEER GAP

BY ADOPTING THE
EMERGING CREED

GREECE
HAS THE TALENT

GREECE
HAS THE PASSION

GREECE
HAS THE CREATIVITY

GREECE
IS BUILT FOR

ENGAGEMENT
CONVENIENCE
PERSONALIZATION
MEANING

GREECE
HAS NO CHOICE

GREECE
HAS TO EMERGE
FROM CRISIS TO CATHARSIS

THANK YOU.
@papadimitriou
FB/LI: paulpapadimitriou
paulpapadimitriou.com
http://www.ﬂickr.com/photos/boklm/9059701815/sizes/l

Greece Emerging Market Advantage

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