Steve Case: How Tech is Reshaping the Economy | SALT Talks #4

TL;DR

Steve Case discusses the third wave of innovation, which focuses on the integration of the internet into everyday life, and the importance of investing in startups outside of Silicon Valley.

Transcript

welcome everyone to the latest edition of salt talks my name is john darcy i'm the managing director of salt in lieu of our global conferences which have obviously been put on hold by the pandemic we're hosting these salt talks which are a series of digital interviews with what we think are the leading thinkers creators and innovators in the world ... Read More

Key Insights

• 👋 The third wave of innovation involves integrating the internet into various sectors to create system-level changes in healthcare, education, and more.
• 😮 The rise of the rest refers to the need for venture capital to be invested in startups outside of Silicon Valley in order to create a more inclusive innovation economy.
• 👋 Policy and partnerships will play a crucial role in navigating the challenges and opportunities presented by the third wave of innovation.
• 😃 Startups in sectors such as healthcare and food are already making significant advancements through technologies like big data and telehealth.

Questions & Answers

Q: What were some challenges Case faced when starting AOL in the early days of the internet?

In the 1980s, many people didn't believe in the idea of connecting to the internet, and it was illegal for consumers and businesses to do so. AOL faced skepticism and struggled to raise funding, but eventually became the first internet company to go public.

Q: How did AOL become successful and widely adopted by the public?

AOL differentiated itself by focusing on creating a service that was easy to use, fun, and affordable. They emphasized connecting people through features such as instant messaging and chat rooms, which resonated with users in the early days of the internet.

Q: What sectors does Case believe will be disrupted by the third wave of innovation?

Case believes that healthcare, education, food, and agriculture will be among the sectors most impacted by the integration of the internet into everyday life. He cites examples of startups in these sectors, such as Tempus and Talkspace, that are already making a significant impact.

Q: How can entrepreneurs and venture capitalists contribute to the rise of the rest in innovation?

Case encourages venture capitalists to invest in startups outside of Silicon Valley to create more opportunities in rising cities. He also emphasizes the importance of engaging with policy makers and forming partnerships in order to drive system-level changes.

Summary & Key Takeaways

• Steve Case discusses his personal backstory, including his co-founding of AOL and his current role as Chairman and CEO of Revolution, a venture capital firm.

• He explains the concept of the third wave of innovation, which involves the integration of the internet into various sectors, such as healthcare, education, and food.

• Case emphasizes the importance of investing in startups in rising cities, not just in Silicon Valley, to create a more inclusive innovation economy.