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It's okay to be a digital immigrant - if you're a fast learner. Listen to what Netflix and Tesla did to chart your own Digital Transformation journey.
Creators & Guests
What is 2m2x - 2 Minutes 2 Transformation?
2m2x is a series of 2-minute videos on topics that will help you transform your business. Join us weekly to discuss Digital Transformation!!
To accelerate your digital transformation/innovation journey, visit us at informulate.com
Episode: 3 Digital Native vs. Digital Immigrant
Transcript:
Hey there, Welcome to episode 3 of 2m2x sponsored by Informulate.
Today we're going to talk about digital natives. These are companies that didn't start from level 0 and work their way up. They started with a digital-focused business and scaled very quickly. Who are we talking about? Uber, Airbnb, Facebook. Can you imagine those companies without their technology? No, their business is built from the ground up through their unique digital assets. And as we know the world's largest taxi service, the world's largest hotel chain, owns no cars or buildings.
I know, I know, good for them. But, how does that help me, right? Well let's talk about Netflix. It started out by sending physical DVDs by mail in 1999 but they didn't stop there. They got into streaming when bandwidth was still an issue and worked that into a success too. And they kept transforming to where they are now, one of the world's most prolific producers of original content this year. They will release more than one original movie every single week, which is more than Disney and Warner Bros. combined. That is true transformation, where you start with one business model and rapidly evolve it by following the customer's needs.
Tesla is another great example of this faced approach with the Roadster, Model S Model X, and the massively popular Model 3 but also augmenting that customer experience with over-the-air updates, superchargers, solar roofs, and at some point self-driving. So to paraphrase, Wayne Gretzky “How did these companies know where the puck was going to be? Were they just lucky? Now, they listened to the customer made hypotheses, ran experiments, collected tons of data, and then made big entrepreneurial bets.”
So how do you, as a digital immigrant, make your own journey of digital transformation?
Join us next week for our first interview with Adam Scheinberg, VP of technology at Massey Services. If you have any questions for him comment below. See you next week!