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Why Silicon Valley Continues to Innovate and Rock the World
The document outlines the continuing innovation in Silicon Valley, highlighting its emergence as the global tech hub due to its historical significance, network effects, and cultural emphasis on innovation. It discusses the importance of talent, speed-to-market, and market validation in fostering successful tech startups and the challenges posed by regulations. Furthermore, it emphasizes the need for rapid iteration and learning in product management to stay competitive in a landscape characterized by constant disruption.
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Why Silicon Valley Continues to Innovate and Rock the World
- 1. CLICK TO EDIT MASTERTITLE STYLE Why Silicon Valley Continues to Innovate and Rock the World Rich Mironov Market Insights Conference 13/14 November 2014 1 © Rich Mironov, 2014
- 2. • Veteran productmanager/exec/strategist • HP, Tandem, Sybase, 5 B2B startups as “product guy” or CEO • The Art of Product Management • First Product Camps, first agile product manager/owner tracks ABOUT RICH MIRONOV 2
- 3. Ø San Franciscois the center of the (tech) universe Ø Network effects are huge Ø Innovation as a cultural attitude Ø What are the next few revolutions (and where will they happen)? AGENDA 3
- 4. Historical accidents? • Fashiondesign: Paris, Milan • Stock markets: London, NYC • Automobile design: Detroit, Tokyo, Stuttgart • Pharmaceuticals: Basel, Brentford, New Brunswick • Security software: Tel Aviv GEOGRAPHIC SPECIALIZATION AND NETWORK EFFECTS 4
- 5. • Stanford University(1891) • Hewlett-Packard (1939): electronic test equipment • Fairchild Semiconductor (1957): integrated circuits • Varian (1948): vacuum tubes, radiation therapy • Intel (1968), Arpanet (1969), Xerox PARC (1970), Lucasfilm (1971), Atari (1972), Apple (1976), BSD UNIX (1977), Oracle (1977), 3Com (1979), Adobe (1982)… SILICON VALLEY’S HISTORICAL ACCIDENTS 5
- 6. • Most establishedtech companies • Most startups, most incubators • Most venture capital • Largest tech employment market, most job mobility • Depth of experienced tech veterans, managers, mentors, researchers, role models • Easiest place in the world to grow a tech startup NETWORK EFFECTS MATTER 6
- 7. • 16,000+ openjobs for software engineers • 1800+ open jobs for product managers • 4000+ startups • Every café is filled with hackers, pitch decks, lean startups, angel investors, recruiters • Tech is our local sport SILICON VALLEY TODAY 7
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- 10. Silicon Valley Restof USA Europe Asia Apple Google Oracle Intel Facebook eBay HP VMware Yahoo Salesforce Twitter LinkedIn Microsoft IBM AT&T Amazon Verizon Dell Ericsson SAP Nokia Philips Alibaba Samsung NTT Tencent Foxconn Baidu Hitachi Panasonic Toshiba LG Electronics Sony LARGEST ELECTRONICS/TECH/ COMPUTER COMPANIES 10 Sorted by market cap, > $15B
- 11. • Company half-lifeis short: product managers work for many companies in their careers • Employment velocity à deep personal networks • Startups always trying to disrupt existing business models • “What did you learn at your last company?” INNOVATION AS A CULTURAL VALUE 11
- 12. • Except forpeople, software startups cost $0 • Talent and speed-to-market matter • Find the smartest people at any price • Validate, build, launch, repeat • Profitability is entirely about scale • Can we reach 10M users? 100M? 1B? SOFTWARE ECONOMICS IS ABOUT TALENT, SPEED AND GROWTH 12
- 13. • Free orcheap for thousands of attendees • “We can validate any product idea and build a prototype by Sunday afternoon” • Build/measure/learn at warp speed LEAN STARTUP WEEKENDS AND HACKATHONS 13
- 14. OUR ROCK STARSARE INNOVATORS, CEOs, CTOs, ENGINEERS, FOUNDERS 14
- 15. • Transportation: Uber,Google autonomous car, Tesla, SpaceX • Mobile: software IP crushing hardware value • Wearable computing • Biotech: bioengineering components • Internet of Things: billions of smart, interconnected devices • Manufacturing: 3D printing, Do-It-Yourself movement • Investing: automated portfolios • Software-Defined Networks • Every corporate function/department • Engineering, Finance, Sales, Marketing, HR, Real Estate… INDUSTRIES TO BE DISRUPTED OR CREATED 15
- 16. • We wantto disrupt industries and reach B’s of users worldwide • Rules (laws) are local or national • Some rules are outdated, others designed to maintain status quo • Market momentum often wins • Second choice: high-priced lawyers WE OFTEN IGNORE RULES (AND SOMETIMES LAWS) 16
- 17. • Speed matters:time is the enemy • Funding exists, technology is not unique • Biggest waste is building the wrong product • Validate, validate, validate, validate • Paper prototypes, integration testing, early adopters, beta • Revenue outvotes politics • Product management tied to revenue HOW THIS CHANGES PRODUCT MANAGEMENT 17
- 18. CLICK TO EDIT MASTERTITLE STYLE Voltaire (1772): “The perfect is the enemy of good” 18
- 19. CLICK TO EDIT MASTERTITLE STYLE Muhammad Ali: “Everyone has a plan until they get punched in the nose.” 19
- 20. • Target worldwidemarkets • Expect multiple competitors in every segment • Open a Silicon Valley office • Urgency, talent, venture money, partners, foolish optimism • Fail fast, learn fast, ship often • Velocity and market momentum beat perfection HOW TO COMPETE FROM STOCKHOLM 20
- 21. CONTACT Rich Mironov, CEO MironovConsulting RichMironov @RichMironov [email protected] +1-650-315-7394 21