YouSaid · the spoken record

Jake

lines on the record: 45
first: 2020-09-22
most recent: 2020-09-22
sittings or episodes: 1
sources: podcast

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“Going to have more flexible space. We've been talking a lot about instead of having designated cubes for everyone or set down places, we'll have people use a reservation system and that will keep us from maybe having to expand sooner. And it might allow some larger companies to shrink their footprint, but I don't think they'll be getting rid of all of their space. And it depends what kind of business you're in. I mean, certainly if you're Boeing, you're probably going to actually need to continue to build planes in big places. The more manufacturing oriented companies, it's harder. It's harder for us. But for the white collar office worker and knowledge workers, we're going to have the ability to kind of have more flexible space, I think, for sure.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Well, that is a fascinating example. Thank you for using it because it actually went around at our company. And of course, as you know, I'm private equity and strategic investor-backed. And so even my board immediately said to me, well, you guys aren't going to need any real estate, right? What a great way to reduce cost. Wrong. Maybe Twitter can work from home forever. I, you know, bless them if they can. I can't wait to see that work. In semiconductors and in many of the boards of mine, that doesn't really work. And in our case, we build hardware. So we have labs and we have people who actually physically need to be touching the product and interacting with it and delivering it to customers and helping them with the bring up and all that kind of thing. So we're in a business that's more hands-on than a work from home forever kind of scenario. That said, I think we'll have a different use of real estate, if I could. I mean, I think we're”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Company, you know, people are being very best efforts, but it's legitimate that they have small children who really do need their help. The other thing that we're doing is we have some people who candidly have, you know, three under the age of six, for example. They cannot really get a lot of work done at home when their kids are awake. So I don't want people going to a public place where they may be exposing themselves and their family to COVID unnecessarily. So our offices are quite clean. We are following all the health protocols. So we're allowing people who need to to just come in and work in the office, whether it's one day a week or whatever, just to get that time that they need to get caught up and et cetera, even where we aren't necessarily fully open, we will let them come in on a case-by-case basis.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“By employees and are accommodating this, that we allow them to shift meetings to after school hours, to take different days, shifts with their spouse or their significant other where they are the monitor, if you will, they're not teaching, but they're monitoring their young children in the morning or on Mondays and Wednesdays and their significant others doing it the other days, that kind of thing. So we're accommodating that. The other accommodation that we're making, and by the way, I see that going on in the boardroom we've been talking about about that as well. And I've shared my accommodations because it's easier in a small company with some of the boards I'm on saying, you know, you might want to offer this, right? Because sometimes in a large company, people are a little bit more reticent to ask, could we move these standing meetings to three o'clock in the afternoon so I can watch my kids, you know? And look, like, you know, that's life and they'll work until 9 p.m. I mean, we're not, I don't feel like people are cheating.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, well, I'll start more personally, I have lost my awesome Zoom home office to my teenager who started high school at home and told me I had a better setup. I said because I work here. And he's like, but I need it. I'm like, and of course, because we're parents, right? I'm like, yeah, you should use it. I'll go to like the kitchen table. What? I'm running a company. I'm at the kitchen table because my teenager took over my own office. So we got to rectify that. But everybody is falling into this trap. I mean, one of the things that I'll share with you is that in our company, we have a lot of younger employees, the population demographic is half of them are under 35-ish. And we have a lot of people with young children. Some aren't even school age. That's one set of issues. But the other is the young kids who need supervision while they're doing remote learning or distance learning. And so we have been asked.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“So, I mean, overall, the last six months hasn't been bad. I don't know that we can continue. We're getting into a phase where if the workers are either single parents or they have children at home with not a dedicated workspace, we're just getting into places where we're starting to have to make some accommodations for workers at home.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“I would say that we had the answer yes, but the elation phase, which I would call the first three or four months, was marked by extraordinary productivity. Like in semiconductors, you would measure that by pulling products in because people were working 24-7 because they had nothing else to do. That's not necessarily healthy, but it's excellent productivity. I think the last three months have been more of a getting into more what I call normalized productivity, so not extraordinary. We have not seen a drop in productivity. The companies that I'm on boards for have not seen a real drop in productivity, but we are definitely seeing fatigue set in. So we don't see the extraordinary efforts, which by the way, I mean, aren't realistic, you know, you can't expect employees to do nothing but work. And it's not healthy for them either.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“I think that that's a great question. I have been trying to draw up something like a Maslow's hierarchy of work at home phases. You know, you don't start with grief, you start with elation because you're so happy. Everyone's really happy like, oh my gosh, I get to work at home. This is great. There's something about not having to commute. There's something about being able to wear your weekend clothes. And then as things evolve, you realize that, you know, you need to, you're on Zoom or you're on Teams or whatever and people can see.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Having a place to go and that isn't your home. And you're part of another family, your work family, and they miss that camaraderie and that time together. So it's, you know, the future of work isn't going to be the same as the past, for sure. I don't think we're all going to work at home forever. I think it's going to be somewhere in between. And I think we have to explore what the right hybrids are going to be.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Think it's kind of interesting because I think we're hearing very similar things which I find fascinating. You know, in a Fortune 50 company, global company with hundreds of thousands of employees, we're hearing very similar feedback as what we're hearing from our small sub 1,000 employee company, where employees want to get back to work. Not everyone wants to get back to work. I think some people would like to continue to have flex. Certainly there are people who are like, I could work at home forever. But about 50% of the population now, and I suspect that that could continue to grow, would like to be able to come back to the office. And the reasons that they give are self-consistent, I mean, I see the same kinds of answers across the large scale companies that I'm involved with as I do with our small company, which is certain kinds of work, productivity is better. face-to-face, as well as the community.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Say come to the office three days a week, maybe four days a week and work at home, one or two days a week, depending on their schedules. Our Asian employees were very much about getting back to work and wanting to be in the office. And especially in India where they've had a very strict quarantine, they can't come to the office. They very much want to be in the office. And in our other offices like Vietnam and Taiwan and China, everyone's back at work. 100% back at work. So it just really kind of depends where you work.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“We were surprised. We've actually surveyed them a couple of times. The first time we surveyed them was when COVID was relatively new, was probably 90 days in, and we kind of thought it might be six, eight months, maybe a year-long phenomena. Who knows? And people were very enthusiastic about working from home. They felt well supported. They were very productive. And it seemed like, hey, maybe working at home forever would be great. We just ran a survey of our population and our employees, not a huge company, but we have about 700 people worldwide. So speaking about they're kind of two populations because we're global. We have our Asian employees and we have our US employees. But they put qualifications around that. They wanted to come back to work, but they like working at home what they want is permanent flexibility, which is to”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Thanks, Tammy. Thank you for inviting me to talk about this. I'm Renee James. I'm the CEO of Ampere Computing. We're a three-year-old, almost three-year-old in October, startup semiconductor company. All of those things usually don't go in a sentence together, startup, semiconductor. And we are building microprocessors for the cloud and having just a ton of fun. I've spent about 28 years working at Intel. A lot of people know me from that. And I have been blessed to be on several boards and am currently a director of some very large companies and spend a lot of time worrying about what is going to happen with employees, both at my own company and others, and how we think about work.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“And then I think on the IPO side and public offerings, you're going to see some very important companies who are early adopters of this goal and this vision come to market with significant valuations that I think are also going to be a telltale sign of how important this market and this opportunity is.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, Jake, and I think the simplest answer is it's all the above, right? What we see first is a massive increase in strategic interest in who are the players that are disrupting this, who are leading in technology and innovation, and ultimately who are winning the hearts and minds of this demographic, these knowledge workers. I think the second layer that we see is just a massive inflow of capital into private companies who are attacking this opportunity. And that exists both on the early stage for Series A and Series B type investments, but more importantly, it exists on later stage investments where we're seeing significant valuation increases in companies that have had success attacking this opportunity. And I think what's interesting about that, by the way, is that many of those rounds were posted in the height of the COVID crisis, demonstrating that people recognize quickly how valuable this opportunity ultimately is.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Historically, I think the premise of your question would be right, Jake. I think what's changing, though, is first off, the cloud computing environment now is an extraordinary enabler of this entire future of work paradigm because it's easier than ever to push compute power to the edge and it's even cheaper than ever to do that. I think the other reality is that because of our physical connectivity in the office likely being reduced in the long term because of this experience we're all living through the bottom line is that IT departments To the overall challenges of IT departments for the next five to ten years.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“And insights to ultimately improve those workflows and increase productivity, you then start to unlock why this digital to digital workflow and end-to-end communication has real ability to drive productivity for not only the knowledge worker, but for an overall organization. And I think the third aspect of bringing this vision to life is about empowering each one of us as knowledge workers to build our own automation and our own intelligence. And what you have is really the platform because of the end-to-end workflow, because of the insights and the intelligence that's harnessed from that, for us all to describe and define our own inputs and preferences to take action. And I think ultimately that's where the nirvana for us as knowledge workers starts to really come to life because you think about a smart platform designed around you that ultimately you're telling it.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Think the first is really about driving and digital workflow and experiences. And so the best examples of that would be today we turn on video conferencing. We also have things like e-signatures for documents, which is probably one of the best examples of a physical work flow that has just gone pure digital because of this environment. The second is about surfacing real intelligence and insights from those digital workflows. If you think about today, the real work that gets done and the connectivity to the next piece of work that has to get done as a result of that for us as knowledge workers is still very physical, right? It's still very much offline in that you have to let someone else know you're done with that. Either that's an email or a proactive chat. And ultimately, software is going to be able to bridge those connections to be automated. And I think when you start to surface that automation in a way that drives intelligence.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“That just you simply don't have time to get to. All of these kind of tools are coming. And what's exciting to me is that the ecosystem around these applications and these communications to enable this new paradigm and this new nirvana, if you will, of productivity is just starting to really be fostered within organizations and enterprises. And I think that's the real prize at the end of this is that those who are unable to unlock this future paradigm have massive productivity and value to be gained from it.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“The most exciting examples, Jake, are probably still in the very early stages and on the come. But what's clear in all the conversations that we have with technologists and technology companies is that the future is going to look a lot different for the knowledge worker than it does today. The software paradigm of the future work is really about software tools and applications that are personalized around us as individuals. So imagine participating in a phone call or video conference where the software automatically captures to-dos from that meeting and tracks progress for you and reminds you of what has to be done. Imagine smart documents that actually have embedded workflows or requirements or actions that will take place well after that document is actually created. Imagine AI tools that simply help you manage your emails and respond proactively to things.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Even before COVID, Jake, and remote work, most of us can relate to the simple problem that much of our time at work is dealing with simply collaborating and coordinating with our colleagues to get work done. It's about schedules, status checks, calls to share data, and simply finding answers to questions that you wouldn't otherwise be able to find online. And while we're all in the office, much of that was solved by person-to-person interaction. But when we're all remote, that physical shoulder tap doesn't really exist anymore. And the anecdotal data would tell us that we all feel less coordinated despite even more meetings to get coordinated in this new remote work environment. And the ultimate cost of that is less productivity. That productivity loss is massive and measures in the hundreds of billions of hours a year that's only”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Around the world, we're starting to see companies that are 100% virtual offices. Many of the largest technology companies in the world have already announced permanent shifts in policy to support remote work well beyond when we expect hopefully COVID to resolve itself. And the implications of that is that the dollars that were once spent on expensive real estate are now freed up to spend on technology tools to empower and ultimately amplify the impact of this new remote workforce and connectivity.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Concept, Jake, of the future of work has existed for years, and innovation and disruption in this ecosystem has been there. And yet COVID has massively accelerated the digital transformation in every organization, simply because of the need to support and enable remote work. And the first wave of that transformation really was about addressing and preserving face-to-face communication for the knowledge worker. And that really was mainly video conference communication. The important aspect of all this transformation, though, is that many believe that this new paradigm of remote work and remote communication is here to stay. And that has massive implications for the future of work and the allocation of resources for small and large businesses.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Center of enterprise architecture. It's generally applications that drive very little engagement at the outer edge of the knowledge worker. And the future of work and the prize is really about empowering and unlocking this outer edge of the knowledge worker to harness all of the trap data and knowledge and insights that these individuals have and ultimately driving enterprise-wide insights and intelligence from that. And for strategics, the lens that you have to apply is if you already sit at the outer edge and have real and engagement with the knowledge worker, you have massive value to be gained by embracing and harnessing this future paradigm. And at the same time, if you don't have engagement or access to this demographic at the outer edge, then you have potentially a real risk of being displaced as the source of business critical insights for your organization.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Technology has not delivered the same kind of productivity breakthroughs for the knowledge worker to process and act on that increased digital information. And yet the general knowledge worker is the largest TAM that exists in software as a pure size of a demographic. And when you think about the value unlock to be had by empowering this demographic with software tools that make them on each individual level more productive, more connected to each other and ultimately happier in their jobs, that value opportunity is massive and the pure dollars up for grabs to solve that problem are in the hundreds of billions of dollars. Now you asked about the strategic lens and I don't think it can be overstated how important this revolution will be for the enterprise software infrastructure because today critical business insights really come from”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“I think the simplest formulation of that thesis, Jake, is that there are over 1.25 billion knowledge workers around the world. And while we've all experienced an incredible explosion in apps and communication tools to maintain and accelerate our connectivity, the fundamental tools that we use throughout our workday to actually get work done hasn't really changed that much in the last 20 years. The data would tell us that we spend most of our time in the same basic set of productivity and communication applications that have existed for a long time. It's word processing, it's spreadsheets, it's presentations, and it's email, which obviously has been complemented by chat and video conference and even social media. And while we all feel more busy and we have more and more communication and digital information coming at us, the reality is that”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“and really having people establish really strong personal relationships in a moment of crisis is something that will last, of course, hopefully beyond this. I would say that also from a tools perspective, some of the changes that we've done to our systems and some of the tools that we now have at our disposal, like obviously Zoom and Jabber and the use of Symphony that now is becoming more and more pervasive are something that will actually help us be more productive and it will help us maintain a level of flexibility that I think will be very helpful so that people that have specific situations and specific needs will be able to eventually also have flexible work schedule that without impacting productivity so I think we're more ready in general for a change we're more equipped for episodes like this that might happen in the future hopefully not we're definitely more used to be productive and flexible at the”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“At several metrics that could be linked to employee productivity, such as, for example, the number of check-ins on code repositories. And those actually, if anything, they went slightly up, there seems to be lesson with regards to some job categories can really work from anywhere very productively. There's a human element that I think actually will last probably the most important one, which is that this crisis may be being altogether facing a situation of difficulty and also the ability to really like instantly kind of be all on the same page and having meetings that happened virtually and did not require physical movement created a sort of a equalization between people around the world. Nobody felt like a second class citizen no matter where they were, like almost like the concept of headquarter kind of changed and it became almost like one single global headquarter, which was an interesting thing.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Was unprecedented and computers could have reacted and software could have reacted in a very unpredictable way. And that actually went quite well. One point we even had a earthquake in Salt Lake City as all this was happening. And so we were kind of feeling almost like one of those impossible simulation games. So it was really testing us to the limit. So those are some of the highlights. If I look at the future, even after a large percentage of the employees are going to be back in the office, I'm reflecting that a lot of the changes that we went through might actually persist. And there are some technologies that we've continued to use on a daily basis. The way we adapted to this new normal is also something that we believe, that I believe is actually going to last in the future. One of the things that we learned is that at least for the engineering population, we saw that productivity was not impacted by the change of environment. So we look.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Concurrent users at its peak, and generally that was like maybe a tenth of that prior to the crisis. And Zoom was really a game changer for Goldman. And it's kind of sometimes being referred to as sort of a global equalizer. And so that was rolled out to all 40,000 employees in a matter of days. And obviously, you know, when you roll out a new tool, you also need to expect that people will have questions. the help desk was also uplifted and did an extraordinary job.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“That full virtualization was kind of a really important ingredient for making it really possible to virtually be able to work from anywhere as long as you have a capable internet connection first and foremost and then you also have, let's say, a large enough screen and then you have a computer that doesn't need to be incredibly powerful but needs to be able to successfully run a think client. So let's say that the requirements for running this kind of virtualized environment were much less than the requirements of actually having applications and data installed in your own desktop. So that was really important enabler. We assembled and shipped over like 3500 phone at home kits and 3500 workplace kits with monitors, computers, keyboards and mouse for people that were not equipped properly and then we uplifted our login.js and added redundant connectivity and at the end you know we were able to manage over 32,000.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“was obviously a big undertaking to move the entire workforce, to work from home in such a small amount of time. And I'm going to talk about a little bit of the process that we followed. So we knew that it was possible in the long term. We actually kind of envisioned the future where this kind of more digital communication between people would become more and more the norm. But definitely what we were not prepared for was like such a sudden acceleration, almost like evolving five years in like a matter of weeks. And so there were a few considerations that were at the center of the discussion. One is, are we actually positioned to transition from a system standpoint and from a desktop environment standpoint? And the good news there is that given the fact that, you know, years ago, we chose to go for a fully virtualized desktop environment. So your desktop is really like a think client and your applications are really running in our data centers.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Offering versus in some cases like a company like offering kind of file, sync and share and document management capabilities where you would have to pay separately for it. So I think it's going to be interesting to see over the next kind of six to 12 months how that conversion of top of funnel occurs.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Of those down the road. And so I do think a lot of these tech companies in those areas have tried to learn from some of the internet companies and how they do things. So you have seen adoption of those products accelerate. But what's interesting is you also have this dynamic where there is a little bit of austerity around IT budgets today, given the global GDP picture. And because of that, it puts people like Microsoft in an interesting position because Microsoft can offer in many cases a lot of these products bundled into things like Office 365 and make it so it's at least worth people's time to try it before they may go out and buy a product from another vendor that they actually have to pay for. And so it's going to be interesting to see how austerity and IT budgets impacts adoption of suite providers such as what Microsoft is.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“So, you know, it's an interesting question because there's a couple trends going on. So, you have seen what is referred to as top of funnel accelerate for a lot of technology companies that are offering these types of collaboration services, of which you can put Dropbox in that category, people like Slack, Microsoft Teams would be in those categories. And it's going to be a question of conversion. So there's been a lot of offering of, there's free products people could use, and ultimately it'll depend on conversion to paid products. It's people trying with getting discounts on initial deployments. And I think a lot of the tech companies have learned from the internet companies that you focus on that you can figure out monetization sometimes later, but it's better to get someone using your products today, even if you have to give them a discount or even offer a free subscription, and you'll figure out a way or you'll ultimately monetize a percentage.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“One of the other trends that maybe we've seen accelerated by this, I mean, obviously there was a big push of people bringing their own technology into the workplace, you know, something that really started with iPhones, but spread with companies like Dropbox using kind of consumer adoption of technology to infiltrate the workplace. Are you seeing that accelerate or change in any way because of this pandemic?”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“New workloads were already going to the cloud, but it will usher in an even faster migration of existing workloads to the cloud. So if you're a startup or a company formed in the last 10 years, most of your workloads are already in the cloud. But if you're a company that's been around for 50, 100, 150 years, you certainly have most of your technology that's still on premise. And it's the conversations we're having with people suggest that the conversations are happening even more aggressively now to try and shift more of that to the cloud so they can trade things like capital expenditures for operating expenditures, but more importantly to get better resiliency and to get better get their arms around their technology and being able to spin up new applications and new workloads without having to have people physically present.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“So again, at the end of 2019, we were about 10% penetrated in the cloud based on the firm's survey work. And three years out, we think this can top 40%. And there's still plenty of room for it to go outside of that three-year period. It is, in terms of the pace of adoption, it has been accelerated as a result of the cloud.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“For that to take the place of travel, but I also think that people typically move when you look back at technology trends, people usually move too far to the extreme. So while everyone's saying, you know, no one's going to travel anymore for business meetings, you know, it's probably not going to be again, as I mentioned, as much travel as what we had before, but I think it's probably going to be somewhere in the middle. So some of these trends are certainly going to see their momentum continue. And I think the other way to think about it is they've reached a penetration rate or will reach a penetration rate that's just at a much higher level than people would have assumed before. So whether that's desktop as a service where people used to estimate that 30% of all desktops would be penetrated, that number might be now more like 60%. Or you have things like application performance monitoring or APM.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“So, in terms of how much will stick when we're finally out of the pandemic, look, there is, and you hear people talk about tech fatigue or Zoom fatigue. There are people who long for the personal interactions, and I think there's people who are perfectly happy, you know, kind of continuing what they're doing, working remotely and just communicating as needed. Ultimately, my view in all of this has been some of this technology adoption is here to stay. So for example, you and I used to jump on planes to go to one meeting in whatever part of the globe. That might not happen as much anymore. You won't get as much pushback if you offer to do a meeting in London or in Hong Kong for an hour remotely versus what you might have had to do before going to California for an hour-long meeting. And I think that will become more commonplace.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Yeah. You know, I mean, I think one of the things that we're certainly all feeling is the replacement of travel. And everybody in our industry has talked for decades about video conferencing, replacing travel. And now we're in a world where we have no choice but for that to be the case. How much of this do you think sticks when we go back to whatever normal is going to look like?”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Since the pandemic began, document is still seeing unique user growth well above its pre-pandemic levels. And I think we, again, something else everyone's probably used, especially over the last six months, as documents are almost always being signed digitally today. So those are just a couple of the examples that really stand out.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“Think Satya and Adella of Microsoft summed it up the best when on his earnings call last quarter, this was the March quarter, said that we've seen two years of digital transformation occur in two months. And I think that's exactly right, especially in key areas. So a few notable accelerations to get to your specific question. And I kind of alluded to it before, but Zoom added over 180,000 customers where they have over 11 employees on the March quarter. They added only 31,000 for all of 2019. So, I mean, just massive uptake in the use of their technology that I think everyone has probably used at some point over the last six months. Microsoft's employee collaboration product, which is called Teams, they've seen the year-over-year growth of its unique users average around 900%.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“These 1.25 billion knowledge workers that we mention, and it's going to be an era that's defined by disparate workforces. And so we think it's going to change all sorts of the ways we communicate and interact with people day to day. It's going to be areas like collaboration, areas like video. That would be things like Zoom. Collaboration would be things like Slack or Microsoft Teams. And it's not going to stop there. You're going to start to see wholesale replacement of some of these legacy technologies that have just been still in use and just haven't had a reason for them to change up until now. PBXs, what you used to have from the 1960s is still around today. We're going to have unified communications as a service. You're going to be able to have your phone number follow you around. You're going to have things like project management applications, anything that will help distribute.”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT
“So, I think to look forward, you actually have to look back a little bit. And so, I'm going to give you a little bit of a brief history on kind of how we've evolved from a technology perspective. So we look at technology cycles as happening every 20 years. And we're just at the beginning of a new one. If you go back from the 60s to 1980s, it was mainframe computers that characterized where we were. The 1980s to 2000s was defined by things like client servers and bold goals such as getting a PC on every desk. And it was also the start of the commercialization of the internet. The last 20 years, 2000 to 2020, it was all about web architectures. It was about API, application programming interface connectivity, and it was the start of public cloud and software as a service. Enterprise 4.0, which we call it, is going to leverage”
2020-09-22 · Goldman Sachs Exchanges · The Battle for Our Screens, Part 2: The Future of Work · IDENTIFIED FROM THE TRANSCRIPT