How the
world will change
The big
question, and the theme of many of Meeker’s previous annual reports, is how the
world will change as a result of the crisis. With her team at venture capital
firm Bond Capital, she has highlighted two broad probabilities:
Work-Life
Re-Balanced
“For those
fortunate enough to be working these days, to say ‘shelter-in-place has changed
daily routines’ is an understatement. Technology investors recall the legend of
Instagram securing 100-million monthly active users (MAUs) in about 2 years and
Fortnite snagging 100-million MAUs in about 18 months, but we have never seen a
business-focused app rise from 10-million to 200-million daily meeting
participants in three months as Zoom’s video collaboration platform just did.
Zoom has secured its spot in the record books.”
“Over the
years, we have spent a lot of time looking at the evolution of work… We have
often been in large open spaces at technology companies filled with people
using laptops at standing desks while wearing headphones to tune out background
noise. Despite the advantage of being in the same space, the workers often
collaborate mostly using digital tools. We have questioned what percentage of
workers need to be in the same place at the same time?”
In Silicon
Valley, the shift began on March 2, as technology companies began the move to
work-from-home.
“Many workers
stuffed their laptops and personal items into bags, took their regular commutes
home, had a meal, went to sleep, woke up in the morning and then began doing
those same jobs at a different desk (or kitchen table…or sofa). In effect, a
big experiment started that will likely change the way lots of office work is
done.”
Digital
Transformation Accelerating
When we
look back on business trends of 2020, Meeker believes, it is likely that
businesses doing the best tended to share the following features:
- Cloud-based business functions where
workers can take their computing devices and work nearly anywhere;
- Products always in demand but
especially so in uncertain times;
- Easily discoverable online presence
that seamlessly helps consumers;
- Efficient ways to distribute
products to consumers in limited-contact ways;
- Products that make businesses more
digitally efficient;
- Broad (or emerging) social media
presence.
The Bond
Capital team has also identified four other major trends, namely the rise of
on-demand services, from shopping to housing; governments realising that modern
technology is essential to enable the stimulation economies; transformation of
healthcare; and the evolution of sport away from contact to more digital
engagement.
All is not
lost for sport, says Meeker.
“Humans
will find ways to compete in any world and, the more playful it is the better.
Sports will continue to thrive … fans will always covet in-person experiences
and competition, as long as they feel safe and can have fun.”
- Arthur Goldstuck is founder of World Wide Worx and editor-in-chief
of Gadget.co.za. Follow him on Twitter and Instagram on @art2gee
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