Eric Schmidt Talks Revolution + Consumer-Driven Innovation
Yesterday afternoon at the Lions, Google Executive Chairman Eric Schmidt sat with VP-Google Creative Lab Andy Berndt to discuss innovation, imagination and the internet.
Schmidt kicked off the discussion by pointing out the internet is a special kind of business because it is highly Moore's Law-driven: "If you take a country that's got 40% internet penetration, and you see it in the next five years, broadband penetration will be up to 80%." Your business just doubled and you didn't have to do anything -- this doesn't happen in any other industry.
The idea that your business can be expanded as a function of users broadening your market, as opposed to you taking steps to expand in the traditional sense, is something we are still grappling with.
"The implications for this consumer-driven phenomena are not well-understood," Schmidt said, pointing out that the Middle East's current ongoing social media-driven struggles for democracy are a good example of the unexpected fruit such phenomena yields. This is just the beginning of users' muscle-flexing.
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