Protecting Data in the Cloud
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Are startups really going to the birds?
There’s been much discussion recently about “the end of the startup era.” According to many, we have traversed the decade belonging to mobile and mobile devices, which came after the Internet boom, and reached the beginning of a new world order in which large enterprises will rule over startups.
Maybe not quite so.
The optimist would contend that all prominent industries mature over time. Tech’s “Frightful Five”—Amazon, Apple, Facebook, Alphabet (Google) and Microsoft – have simply replaced previous tech giants. Today’s graduates are more likely to work for these companies due their immense size and reach, just as prior graduates were more likely to work for HP, IBM, Intel, Oracle, or EMC.
In parallel with these large businesses, startups have always existed.
The American Dream – the belief that anyone can achieve success and a better life through hard work – has driven the economy of this country for more than a couple centuries. We all seek opportunities for prosperity and happiness, and this has motivated mankind from humble beginnings to improve upon what could be improved, to develop new ideas and concepts, and to prepare for the future.
As long as the freedom to ideate and create exists, startups will continue to be built.
The financial ecosystem and support network may change in response to the maturation of specific industries, but entrepreneurship will not cease. In fact, we are hosting new generations (e.g., Millennials, Gen Z) who have been exposed to digital technology their entire lives and are more Internet-savvy, diverse and educated than previous generations. With vast amounts of data available at their fingertips, both sophistication and ambition are greatly accelerated in these generations, as compared to that of their parents and grandparents. They are flexible, comfortable with constant change – qualities essential to successful startups. These may be the most entrepreneur-ready populations to inhabit our planet!
We should not be surprised then, ten years from now, to look back on what may well be the “new startup era.” Today’s high tech environment makes it easier than ever, more convenient than ever, to start a business. Seed funding and venture capital, along with billion-dollar unicorn valuations, may become harder to attain, but new ways of doing business have yet to be invented. For example, based on data collected by the UberEATS app, a new feature enables restaurants to set up virtual restaurants to fulfill demand for food items that aren’t available in a physical restaurant within a specific location. And how many of you have looked into ICOs? The seemingly overnight growth in cryptocurrencies perfectly illustrates the transformative potential of the world we live in today.
Today’s large enterprises are constantly changing, continuously creating new products and services, for they know it is the very same unique environment that allowed their growth that will continue to give rise to innovative new startups. The intensity of competition will grow faster and more furious; the sheer number of startups will be greater than ever. This time around, however, startups will be more complementary than disruptive to existing businesses.
For those ready to take advantage of the opportunities ahead, I foresee a longer-term ecosystem of reciprocal success built on strong relationships between the tech giants and startups. Startup 3.0 has only just begun.
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