We had to brave a nasty Zoom glitch at the beginning, but then were off for a fascinating talk spanning topics like:
· The need to be accurately disciplined in managing your business in good times and bad.
· Going lean, directing GTM money to customers and products that are meeting services and ensuring R&D investments are in products generating revenues for the future.
· The future of M&A's in a WFH environment
· The reason Morgan Stanley is less impacted by the pandemic’s financial crisis than other banks.
· Supply chain shifts and changes
· A required global collaborative effort on problem solving to get back on track.
The closing question was "looking 20 years into the future, which path should entrepreneurs pursue for their next startup other than personalized medicine?"
Steve’s initial answer was environmental and climatic systems. In a later email he asked to rephrase it, saying: “Earth systems tech is probably 40-50 years away, so as for the next 20, my biggest focus is and would be related to IoT and the implications of mass deployment; technologies associated with privacy and cyber security. Without this, people will start to choke technology and that isn’t good for anybody. We include in this topic the identification of inaccurate data. Identifying manipulated video in particular will be a significant challenge to good decision making. Technologies that optimize the management of bandwidth, storage and processing as all of these capital heavy products will be supply constrained. Technologies that intelligently curate the data to prioritize on above h/w which will be constrained by capital. New technologies around energy consumption associated with IoT devices and infrastructure. This will lead to a shift in Software design, to be developed and used in an efficient manner on this type of network."