Innovations in data have brought about the age of personalized products at scale. How does this fit into the greater concept of unscaling? How is it so different from the age of scale? How will blockchain actually protect our privacy? On this episode, Kevin Maney shares some of the key insights from his latest book including living your life as a personal enterprise and personalized education.
This new group of inventions is enabling something very different in this idea of scale. -Kevin Maney
3 Things We Learned
Early innovations led to the concept of scale
Inventions of the 19th century created the conditions that brought about scale. That set in motion the idea of economies of scale, where the ultimate goal of a business was to generate profit from selling one thing to the most people.
Healthcare will shift towards a more personal solution
So far healthcare has been a mass market product but it’s going to be affected by the market-of-one model. This means the healthcare system can actually get to know your individual health patterns and gear a more personalized treatment towards them.
We’re heading towards the model of a personal enterprise
Because of the data and the network that we are all a part of, each person will be able to leverage whatever they are good at. They will also be able to connect to a market for what they do and be able to make a living.
When mobile, social and cloud started happening, they led to the creation of enormous amounts of data that is enabling something very different in the idea of scale. It’s not going to be mass markets anymore, but rather markets-of-one on a massive scale. This will flow through many facets of human life, from healthcare to education, and cause us to shift back to how things were pre-1880, where services were personalized and geared towards the individual. Automation will play a large role in this shift, allowing it to be done profitably. It won’t be via craftsmanship, but through business.
Kevin Maney is a best-selling author and award-winning columnist. Maney co-authored, with Al Ramadan, Dave Peterson and Christopher Lochhead, the 2015 book Play Bigger: How Pirates, Dreamers and Innovators Create and Dominate Markets, published by Harper Business. Maney’s other books include The Two-Second Advantage: How We Succeed by Anticipating the Future...Just Enough, a 2011 New York Times bestseller. He also co-wrote the most widely distributed business book of 2011, Making the World Work Better: The Ideas That Shaped a Century and a Company, which marked IBM’s centennial. His other books are Trade-Off: Why Some Things Catch On, and Others Don't; The Maverick and His Machine: Thomas Watson Sr. and the Making of IBM; and Megamedia Shakeout. For more information about Kevin head over to his website; http://kevinmaney.com/