Why I Actually Want the Economy to Crash | DailyVee 396

TL;DR

Gary Vaynerchuk discusses the importance of staying practical amidst the hype of emerging technologies in his talk at CES 2019.

Transcript

• And then we'll see everybody else who says "Entrepreneur" in their Instagram profile right now when they're working in Bank of America in 24 months and so that's what I'm waiting for. I'm most excited for and waiting for and hoping for complete global economic carnage so that we can weed out the B and C and D players. (electronic music) ("It's Al... Read More

Key Insights

• 🍔 Gary urges entrepreneurs to focus on practicality when evaluating emerging technologies, as many companies will fail before the technology becomes mainstream.
• 🍉 He believes in building genuine relationships and engaging with others for long-term success.
• 😉 Gary emphasizes the importance of being willing to take micro losses for macro wins and not being afraid of failure or judgment.
• 😥 He encourages entrepreneurs to prioritize their own success over counting the points and comparing themselves to others.
• 🏃 Gary believes that in the long run, merit and truth will prevail and those who are not well-equipped in entrepreneurship will be weeded out.
• ⌛ He stresses the importance of efficiency and saving time by attending events like CES.
• 🇭🇰 Gary identifies voice technology, AR, AI, and IoT as areas that have potential for future growth.

Questions & Answers

Q: What is Gary's main message in his talk at CES 2019?

Gary emphasizes the importance of staying practical and surviving in business until emerging technologies become consumer-friendly and profitable.

Q: How does Gary recommend attendees make the most out of events like CES?

Gary advises attendees to connect and engage with other attendees, regardless of their status or fame, as serendipitous relationships often prove valuable.

Q: What emerging technologies is Gary currently focusing on?

Gary is currently interested in voice technology, specifically Alexa and Google Home skills, as well as AR and AI. He sees these technologies as key areas for future growth.

Q: How does Gary approach investing in emerging technologies?

Gary is willing to take risks by investing and staying ahead of the curve, even if the promised timelines for certain technologies do not align with reality.

Summary & Key Takeaways

• Gary emphasizes the need to focus on staying in business and surviving until the true potential of new technologies becomes mainstream.

• He advises attendees to connect with others at events like CES to build relationships and create serendipitous opportunities.

• Gary talks about his approach to staying ahead of the curve by investing in emerging technologies like voice, AR, and AI.