a16z Podcast

2023 Big Ideas in Technology (Part 1)

189 snips
Jan 24, 2023
Join Connie Chan, a consumer trends expert; Anne Lee Skates, who focuses on digital community; Jack Soslow and Doug McCracken, specialists in gaming and digital fashion; Sarah Wang, an enterprise software leader; and Sumeet Singh, who navigates FinTech. They dive into social commerce's evolution, the concept of 'third spaces' in a digital world, and the transformative potential of generative AI. The discussion also highlights the intersection of fashion and gaming and the challenges of innovation in maintaining user trust in AI technologies.
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INSIGHT

Reducing Friction in Social Commerce

  • Social commerce platforms need to decrease friction between product discovery and purchase.
  • Live video is effective for selling due to real-time interaction and limited-time offers.
ANECDOTE

Infomercial Success

  • Infomercials were successful because of entertainment and limited-time offers.
  • Current social media videos lack the entertainment aspect, hindering sales.
INSIGHT

Search vs. Discovery Shopping

  • Western shopping habits are search-based, while Eastern shopping is discovery-based.
  • Discovery-based shopping, like in physical stores, leads to more impulse purchases.
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