product development

product development

Cannes Lions 2015 - Darwin & Rand's Baby: Uber

4h ago
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Predictions are useless, but predicting is everything. With that as a motto, L2 predicted has consistently made predictions about the future of tech companies. Some were wrong: L2 predicted Amazon would decline in value in February and the share price has jumped 40% since then. L2 also predicted the irrelevance of Pinterest due to slow product development, and it is now valued at $11 billion. Yet a few were spot on, such as the prediction that Facebook and Uber will be the most valuable company in the word. Facebook recently surpassed Walmart in valuation. A few keys to its success: 1) Pulling off one of the biggest bait and switches in history: Facebook encouraged brands to build communities before walling them off and charging for access. Now, brands have no free access to the communities they built. 2) A successful mobile pivot. Facebook went from obtaining 0% of its revenue from mobile to 64%. 3) Disrupting YouTube. Facebook video views just surpassed YouTube. 4) Great acquisitions. Instagram and Whatsapp complement Facebook where it is weak in demographics and geography. Uber is what would happen if Ayn Rand and Charles Darwin conceived a child. Uber is UPS, FedEx, USPS, Amazon, GM and Seamless combined, subtracting all employee rights. Uber claims it has 162, 000 employees – more than the MTA – but none have any employee rights. More than just a transportation service, Uber is providing a last mile solution for businesses. Other predictions: the death of pure play retail, the disruption of television and the rise of Linkedin. See full video for more.