YouSaid · the spoken record

Arun Sundararajan

lines on the record: 69
first: 2016-10-15
most recent: 2016-10-15
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Well, one of the things I wish I had seen is just how dramatic the consumerization of digital was going to be. You know, back in 2000, sort of looking on the horizon, seeing the iPod, it wasn't as clear to me that we were going to see as rapid a pace of consumer technology adoption and all of the changes that came with it. Because had I seen that coming, I would have bought a ton of Apple stock at the time because, you know, they were really the only game in town at that point. I mean, you know, they had a 10-year head start over everybody else in terms of thinking about the consumer as the audience for technology products.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And design thinking, creativity, entrepreneurship, interpersonal interaction. These are the skills that are going to matter more. And so think of your career as not working for someone else, but as sort of defining your own path. And accumulate the skills for that. For the ones who want to go into venture capital, I tell them that the only way to learn how to be a venture capitalist is to do it. There are lots of platforms that allow you to do it today. And so, you know, if you want to become an investment banker, you try and join one of the big banks as an associate. That isn't really the path in venture capital. And so, you know, if you really want to either by working for early stage companies or by investing yourself, build up a portfolio if you want to be a venture capitalist.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, the one consistent piece of advice I give recent college graduates or millennials is to expect that the world of work that they're going to be facing in 20 years is very different from the world of work today. STEM capabilities are going to matter less science, technology, engineering, and math.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, a lot of different things. I like to ski I like beaches. I like quiet beaches. I try to travel to I try to travel to beaches that I don't know about as much as I can. I like to read, I like parks. I do strength training in the gym when I can. I focus on Movements that replicate what you do in everyday life as opposed to machines. And so I would do a deadlift or a squat over sort of machines that isolate particular muscles.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Everything took off. And so there are going to be layers built on top of the blockchain that will suddenly bring it to life. And then over the next decade, it'll start to change a lot of businesses. I don't think it's going to disintermediate as much as a lot of other people think it is, but I think it's going to be a tremendous source of efficiency.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that it's really early days. I put sort of where we are with the blockchain today as where we were with the internet in 1991. This was like a couple of years before the emergence of Netscape or any of the browsers before the World Wide Web.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, you know, I started programming when I was a teenager. And so I used computers for many years before the internet. And so while this is a clich ⁇ d answer, it's pretty clear that the commercialization of the internet Has been the single biggest technological shift that I've seen in my studying digital technology. I think the consumerization of digital that we saw in the late 90s is perhaps sort of like the most significant manifestation of this. I'm expecting great things from the blockchain. I think we're at this. I think a lot of people.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Over a thousand year period. I've personally been influenced by this wonderful book called Siddhartha by Herman Hess. I think anybody who's a parent should read this book because it sort of defines what To expect later in the process of parenting, and it's just, you know, it's a slim volume really sort of changes the way that you think about the world.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“So, apart from code and other laws of cyberspace, another book that I've really been influenced by is a book called Collapse by Jared Diamond. Sure. I think that it sort of lays out this pattern of why civilizations rise and fall in a way that was incredibly compelling through sort of research that was done over thousands of years.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, and I think that that's core actually to why Airbnb is successful, because the idea that you can build a platform that will connect individuals with spare space wasn't a new one. It was really the design of the experience for both the person who's staying and the person who is hosting. And designing it carefully as an experience that doesn't just work for someone renting out a vacation property, but works for someone renting out their spare bedroom, renting out their entire apartment. I mean, this is really a design accomplishment and not a technology accomplishment.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, if I look at the sort of the most recent crop of technology leaders, I've been very impressed by the way Airbnb is run. And I really think that there's a lot of inspiring thought that has come out of Brian Cesky, Joe Jebia, and Nate. You know, everything is a design problem that you've got to design the world that you want because otherwise someone else is going to design it for you and you may not like what you get and so sort of take control and design your own reality.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I'd have to say that as a researcher, the person who perhaps was the most influential to me is an economist called Roy Radner. He's like a world-class economist. I worked a lot with him right after joining NYU. And he really shaped my thinking on two fronts. One is, what does it mean to ask an answer questions that really matter? To not think of research as sort of an end to itself, but a means to understanding the world better. And I think he's also got an approach to treating other human beings. As equals, that is really remarkable and was very influential in sort of how I interact with the world.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“In the future. Yeah, and meanwhile, the platform will send an expert to you to sort of help you sort of get up to speed and get on board before the need for government intervention comes along.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And I think that's the future of regulation for this sort of more fluid sort of personal, professional, blurring restaurant and food delivery industry where you can't have government inspectors sort of doing all the work if you've got half a million people who are occasionally delivering food. You need some sort of peer feedback system, maybe peer monitoring, looking at the data on the platform and using the government resources more judiciously.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Or, you know, just that a bunch of keywords that signal that something needs to be done, and then they send an inspector there.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“At least Yeah, and I think Yelp has played a role as well in being able to sort of direct the government attention to the restaurants that need it. Most city governments actually have automated systems that mine Yelp and sort of look for things like food pooling. I had no idea that he was sick.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yep, there's also a platform called Josephine, which is not I feed you in my home, but I prepare it in my kitchen and send it to you. So this is sort of the next generation of restaurants in Seamless. All of these platforms are starting to face regulatory pushback from the departments of health. Sure. I mean, you've been in a number of New York City kitchens. I mean, none of our kitchens is going to sort of pass the Department of Health inspection, right? So probably.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that restaurants are being challenged by these supper clubs on demand like Feastley, and there's another one called Eatwith.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, Feastley is one of a number of platforms that allow you to convert your dining room into a restaurant occasionally. So if you like to prepare food and your guratit, you prepare a meal, you list it on feastly. And you say, well, here's the menu and it's $45 a seat. And people will either book the entire table or if you're in a new city and you want to hang out and sort of eat at someone's home with a bunch of locals. That's a way to do it.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Somewhere in that range? Yeah, it's, you know, I think the path through which we'll see it emerge initially is through the on-demand platforms because they can vouch for the autonomous vehicles. They can say, listen, we'll keep the speeds under 20. We'll make sure they don't drive in front of schools. And so they will sort of introduce them before, say, Tesla has a car without a steering wheel.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, you know, I know that Uber projects that the future is going to come in five years. I think that that's aggressive.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“In 20 years, we would have shifted automobile, the automobile industry to a place where for a lot of people it's an on-demand service where the car without the steering wheel is coming to pick you up and take you where you want to go.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely, because you know that notion that your car defines who you are, all of this work that the auto industry put into sort of making it a lifestyle product, that's starting to wither away for two reasons. One is that you call an Uber on demand or a lift on demand when you need it, you don't really care what the brand of the car is, you don't send it away saying, I wanted a Cadillac and you sent me a Chevy. But it's also that statement of identity among the youth is more through the mobile phone that they own their Instagram, Snapchat, Facebook profile. And so the role of the automobile in defining who you are to your peers has become a lot less. So these, you know, I think that there are great prospects for platforms like Get Around and Turo in the United States, Drivey, which is taking over different countries in Europe. There's one called PP, which is the largest peer-to-peer car rental platform in China.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I mean, you know, you look at the number of 16 to 90-year-olds who have driver's licenses in the United States. I think back in the 80s it was over 85%. Today it's under 50%.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. I think that the future for a lot of emerging markets that don't have reliable power supply is going to be a more advanced future than the present for us today.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Initially, yeah, but then once these grow up and mature there, then they will start to take on the traditional energy industry.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, both those technologies are progressing rapidly. The photovoltaic technology perhaps sort of more rapidly. But I think what the real key missing piece of the infrastructure here is is the storage technology where you don't sort of lose it or lose it. And once that happens, the critical infrastructure won't be the distribution infrastructure or the production infrastructure. It'll be the platform that sort of ties together all these generators of power, individual generators of power, and creates a market where this becomes comparable to getting your power from the power plant. And so I think we're going to see the emergence of this more rapidly in countries where the traditional power infrastructure isn't quite as reliable as it is in the United States. And those are the fringes where you'll see these energy platforms come of age.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Physical batteries, and that happens when it's local. Then you start to sort of realize that the fundamental underlying economics of producing solar power are dramatically superior to the coal and gas technologies because they're not mechanical. So you don't lose so much of the power as you're generating it.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I'm starting to see us getting close to a point where there will be good enough battery technology. For us to start to think of the individual as the producer of power for the neighborhood. I mean, there are some people who have a lot of roof space and they don't need as much power. There are other people who need more power. They don't have enough roof space. You know, solar power technology right now is a I install it for myself. Now once we have good battery technology that can store the power and ways in which we can retransmit it to people in our neighborhoods either over a grid.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think that it's about 10 years into the future on two fronts. You will probably have a sort of a limited functionality 3D printer in your own home. But there will be a network of print shops in your neighborhood that will start to play some of the role that the local retailer plays, where you may not For the more complicated items that need to be printed, you may not want to do it at home, but you just sort of walk down the street and send your design to the 3D printing shop and then pick up the object and bring it back. This is one of many forces that is going to change physical retailing over the coming decade. Can I assure you?”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“and the consumer by themselves sort of renders the design into physical form in the same way that we are rendering the news into something that we can read or rendering the music.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“In producing it. And so what happens because of additive manufacturing is that you might start to see what happened to the newspaper industry, happen to other industries where the newspaper industry also relied on the movement of physical goods, the newspapers, the distribution networks. Music was the same thing, the retailing channels. All of that went away when the products became digitized. Now, if you're selling jewelry in 10 years, you may not need a physical distribution network. You may just have to come up with the best designs because everybody is printing the jewelry that they want and adapting it on their home 3D printers. So a whole host of new products start to become purely digital in terms of selling them.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yep, because the digitization and the exponential growth are what put the smartphone in your hand at an affordable price. And it's what makes one be able to predict 20 years ago that this is going to happen. And then the modularity means that you don't have to build all the capabilities into the phone when you buy it. You can start to sort of download them and extend what your phone does for you in a modular way over time.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, in some ways, the consumerization of digital, the fact that we've got sort of handheld computers, that we can use and carry around with us.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And the idea that you can call on the capabilities of a digital machine through software and you don't have to sort of rebuild the capabilities into a new machine. You can just call on it. All of these are unique to digital technologies. There's what they sort of set them apart from, say, the steam engine or the other general purpose technologies in the past. And I think that that's these are the three things that are causing the pace at which digital technology is changing the world.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it's trying to come up with three things that don't change about digital technology. Was in response to the fact that so many things do seem to change about digital technology. And so how do you frame what the future is going to look like? And so, to me, the combination of these three things like the digitization of information, exponential growth and bandwidth and computing power and storage.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. And I think that the fundamental shift that we're going to see is away from measuring employment by counting jobs and towards measuring activity by human beings in terms of the total amount of work.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Real time, but they also need to maintain historical consistency because we want to see trends. So they can't just sort of throw out their survey and pull in a new one. I do know that they worked over the summer in adding new questions to the current employment survey to try and capture some of these effects. But I don't know if they will be enough. They make”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, on the first point, I do think that there is a growing gap between what the government statistics say and what the state of the economy really is in terms of the size of the economy, in terms of the amount of employment, and in terms of like the value creation from technological innovation. The BLS has a tough job because they've got to capture these changes.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Kids for this world of work where they're not going to be joining a well structured job that gives them a career path, but they're going to have to make it up on their own.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. And we're also seeing the emergence at scale of these crowd-based capitalism platforms, both on the finance side and on the sort of the real world services side. I expect we'll see platforms like this in the energy sector once battery technology gets good enough to store the solar power that you generate. We'll see it emerge on the low end or the easy end of healthcare once trust gets high enough that you can sort of go onto the platform and get a registered nurse to come and stitch up the finger that you cut cooking. And so at that point, and I'm already seeing platforms like this for accounting, for law, for architecture, for sales, for high-end computer programming, where you can start to run your own tiny business as an individual rather than working for someone else. So it's definitely the work model of the future. And we've really got to rethink our education system in a way that prepares”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I call these people micro entrepreneurs. And, you know, I think that that's really the future of work because a lot of things that are done by human labor today are going to be done by machines in the future.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it's going to replace full time work for a lot of the workforce over the next couple of decades. I think what we're going to see is a shift in the role of the individual in the economy away from someone who provides talent and labor for a wage and towards someone who runs a tiny business through a platform in exchange for a share of the revenue that the business generates.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It really is, and I think it's compounded further by the fact that the relationship between providers and platform is not employment, but it's more hands-off. So there's nothing like a non-compete. I mean, you couldn't sort of build a Walmart next to Walmart.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“The hosts or what have you Well, there's a new platform called Juno that is an Uber competitor that has reserved 50% of its equity for providers, for drivers.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And I think we're going to see sort of a similar thing, a similar sentiment among the providers in the sharing economy when Uber and Lyft and Airbnb go public because the providers on these platforms aren't shareholders, especially”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, if you ask me, I figure that the right thing for Oculus Rift to have done would have been to sort of give back some of the equity to all of its early funders, even though they didn't have to. I think that would have been a.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“All of these are where you can become a tiny venture capitalist by tapping into people who are listing their businesses. But Kickstarter has also shifted direction and positioned themselves more squarely as a philanthropic site. And so they're less likely to attract investors into the next Oculus Rift.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, Angel List is certainly one of them. There's another one called Circle Up. I've been hearing a lot about one called We Funder. Oh”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It does, yeah Well, I think the Oculus Rift investment on Kickstarter happened at a time when Kickstarter was a lot of different things to a lot of different people. They were a philanthropic crowdfunding platform. They were a platform for demand generation, where you say, here's my product. If you sort of contribute to my campaign, you'll get one of the early instances of that product. And so they were sort of estimating demand there. Sure. And there were companies like Oculus that were getting off the ground. I don't think we're going to see another Oculus on Kickstarter for two reasons. One is that for a company like that, there are far better platforms today where you actually do sell equippee and you get access to a much more sophisticated bunch of equity investors.”
2016-10-15 · Masters in Business · Interview With Arun Sundararajan: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source