3 Predictions About How Technology Businesses Will Change In 10 Years
Redpoint Ventures' Managing Director Jason Warner gives us some of this thoughts on what the next 10 years will hold for business technology
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This article was written exclusively for Dev Interrupted by Lewis Dowling
Over the last ten years, technology has become more sophisticated. Faster. Smaller. More powerful. But it isn’t just our technology that’s evolving at a rapid pace. Our culture, attitudes and politics are all changing, too.
So what could the next ten years look like? How might businesses change to keep up with technology? We spoke with Jason Warner, managing director at Redpoint Ventures, to get his thoughts on the matter.
“Ten years is an interestingly long, but also short time horizon,” Jason explained. “It’s likely we’ll see a complete company cycle, maybe two macroeconomic cycles.” -On the Dev Interrupted Podcast at 10:29
1. Organizations will invest more in compliance and security
There have been a lot of large changes in recent years. People are working from home. Political tensions are high. And almost every device collects data about us. In all these cases, security is important. Securing our businesses, our national secrets, and our private lives.
It all leads to an inevitable conclusion. Jason believes that chief compliance officers will become commonplace, even in small companies. Protecting data is going to become a primary concern, for governments, businesses and people. Because, as the world gets more digital, we’re going to see more and more cyber attacks.
“Trends that I see happening are an increased awareness and investment in things like compliance and security. I think that if companies don’t have a chief compliance officer now, they likely will in the future,” Jason said. “I think it’s interesting when you see the geopolitical environment of how we might have to invest in more sophisticated tooling for national security. But more than that, it’s like understanding that we’re no longer a single micro-geo unit called the United States.” - On the Dev Interrupted Podcast at 11:03
2. Companies will focus on loyalty and subscriptions over one-off sales
The standard business model is outdated. In the past, technology companies sold software, they gave customers the software and that was the end of the transaction. But now, it’s more about building communities and regular interaction with your customers. It’s about subscriptions, regular payments or even donation models, seen on popular platforms like Twitch. Software isn’t a product any more. It’s a service.
But almost every company these days is a technology company. Just look at what’s happened to the taxi industry. The model has completely changed, simply because the technology has evolved. The old model won’t completely disappear, but we’ll see more and more industries move into a subscription model as new technology takes over.
“Selling is about adoption first and selling second. Someone’s got to reach for you first,” Jason explained. “Then, they’re going to find a value problem, then they’re going to want to give you money if they’re finding utility out of you.” On the Dev Interrupted Podcast at 11:21
3. Hardware is, and always will be, just as important as software
With every new innovation, we place more demands on the hardware we’re using. The more advanced our software becomes, the more powerful our hardware must be. But right now, most companies rely on international trade to build key components. With tensions rising, it’s likely that we’ll see companies begin to bring these resources closer to home, securing their supply chain in the process.
“There’s interestingly a lot more emphasis on investing in hardware again,” Jason said. “And America in particular owning its hardware manufacturing, which I think is obviously good.” -On the Dev Interrupted Podcast 11:41
Watch the full interview
If you’re interested in what else Jason had to say about the next ten years, and what challenges society faces, you can watch the full podcast on our site.
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