60% Of Fortune 1000 Companies Will Be Out Of Business Within 10 Years

60-of-fortune-1000-companies-will-be-out-of-business-within-10-years

03-12-18 06:48:00,

Authored by Ritesh Jain via WorldOutOfWhack.com,

I had written about some observation from singularity university almost 18 months back and if you look around then it seems everything is falling in place.

The original article below:

Singularity University, based in NASA Campus in Silicon Valley is the world’s leading learning-cum-incubator university for innovation and technology set-up in collaboration with NASA, Stanford etc and we had leading Silicon Valley entrepreneurs presenting here including the guy behind Google Maps.

OBSERVATIONS OF VARIOUS SPEAKERS THERE:

We are witnessing more disruption in human history over next 10-20 years than what we have seen in the last 20,000 years. Their prediction is that 60% of Fortune 1000 companies will be out of business in just next 10 years.

There is a convergence of exponential development & convergence of technologies and also business models across industries (Blockchain, Artificial Intelligence, Biotech & Genetics, 3D Printing, Solar Energy, Cellular Agriculture etc). These are no longer technologies in the lab, but are already commercialised. So a 10 year old for example will never need to go to college or ever get a driver’s license!

KEY actionable and insights for every business are

1. Organisations built for the 20th Century are destined for failure. Organisations built for efficiency and predictability will fail. They are unable to think and grow exponentially but are predicated on linear growth models. We all come from scarcity mindsets where as the world is moving rapidly to abundance. Ability to rapidly iterate, learn and execute will be required. Today’s 18 year old has the ability to approach the same problem very differently and successfully.

2. People from completely outside the business will end up disrupting these businesses (Zerodha, Alipay did it to broking businesses without any background). Exponential is when you can deliver price-performance which is 10x better – not 20-50% better. There are several areas and technologies where price-performance is doubling every 12-18 months (Moore’s law from Intel days).

3. Everything which is information based will priced at or move quickly to ZERO. They call this “democratisation” of information (We are seeing signs of this in Equity Research, MF Distribution etc).( In the Dec 2016 quarter,

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