Family Office World The Significance and Magnitude that Disruptive Technology will Play on Investments and Infrastructure for Family Offices with Mike Steep, the Founder and Executive Director at Stanford University’s Disruptive Technology and Digital Cities Program
Feb 3, 2020
Mike Steep, the Founder and Executive Director at Stanford University’s Disruptive Technology and Digital Cities Program, shares his insights on how technology is reshaping investments and infrastructure. He highlights the importance of family offices adapting to disruption, particularly in sectors like agriculture with AI and robotics. The discussion covers the need for strategic growth through understanding emerging technologies, selecting suitable board members in startups, and bridging the gap between academia and industry to drive innovation.
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Disruptive Tech Transforms Economics
- Disruptive technology dramatically changes the economics of an industry or company business model.
- Apple's iPhone crushed Nokia by redefining mobile phone usage as entertainment and social media devices.
Corporate Innovation Crisis
- Corporations are investing less than 10% of R&D in at-risk, disruptive innovation.
- Venture capital and external labs fund $300 billion annually, leaving many CEOs unaware of external technological disruptions.
Invest for 10x Value Proposition
- Invest in technologies that offer at least a 10x improvement in efficiency or cost reduction.
- Focus on converged platforms like AI-enabled robotics that create entirely new value propositions.