The Future of the Automotive Industry and Its Uncanny Parallel to the Tech Industry by John Ellis

The Future of the Automotive Industry and Its Uncanny Parallel to the Tech Industry by John Ellis


good afternoon Las Vegas or y’all as JB said my name is John and it is a great pleasure to be on stage with you today and being actually staying between you and another form of transportation called a flight home so let’s hopefully make this an enjoyable journey um my first statement to you is I’m not a car guy I’m a software guy and I work with cars and what I mean by that is I’m actually a developer I started my career at Motorola back in the 90s early 90s actually late 80s if I’m being honest and the career was building software for these things called switches cell phone switches things to allow you to connect and communicate now that was standing what you hear and see in front of you I actually grew up most of that mostly about a little bit over 1/4 my time in Mexico so I speak Spanish but I lived overseas for most of my Motorola career China included and so I started a company called Ellis and associates is a training company to teach people how to do business effectively little did I know how much business teaching I’d be doing anyways there are three things out or two things outside of that that bring us here today the first is I had the pleasure of working with Motorola to open up what had previously been this closed product when you bought a product way back it was what you got it was the software that was given to you by the company in question it was the epitome of Ford Motor Company you can have any car you want so long as it’s black and we today call that a developer program or an app ecosystem you know it as Apple’s ecosystem apples catalogs and you know it as Google’s catalogs in addition to that the software that you found on your phone was closed in proprietary and Ford was one or sorry Motorola was one of the first to come up with this idea of hey can we take this newfangled thing called Linux and do something with it and we did and we shipped the first-ever open source Linux based cell phone in the world today he would know that as Android or derivatives version of it called iOS but Motorola was at the forefront of that a stalwart company from the Midwest challenging and changing the business model after a great 21-year career I left and I was doing my own thing teaching financial math hanging out when Ford found me and they said hey would you write us a software strategy paper for the connected car I said sure and I did and they liked it and so then they hired me to be the global technologies and for three years I wrecked havoc on Dearborn challenging people with the way they think the way they do the way they work we were the ones to create product that was open source we convinced Alan Mulally to take almost ten million dollars of software assets and open source and call us something called smart device lis to allow you to bring your device into a car and to integrate all of the rich content into the vehicle to personalize what had previously been this black automotive and we went around the world convincing OMS or trying to give in so AMS to jump on board and it is in that journey that I learned how to say the four-letter f-word 14 different ways and 14 different languages because no one could believe that Ford Motor Company would be magnanimous to give away software to open up the kimono so to speak and to teach people how to do business differently after three years I left and I went back to my practice and I’m now up to eight of us and we hang out in the world and we work in this world where software and software strategy are key components of the embedded space in the IOT space and we answer questions for people what should you do and how should you do it in 1996 Andy Grove said only the paranoid survive and he wrote a book about it and what we’re gonna do today is show you the paranoia that is taking hold of the automotive industry and what their responses are the good the bad and the ugly but first just a brief point on some background information all of this started in 1886 when Carl Heine’s did the very first patent for the gasoline engine Carl Benz was the this is mercedes-benz we’re looking at that 1886 that’s a hundred and twenty year industry and that is the industry that has set the pace for the Industrial Revolution how to build how to manage supply lines how to create how to provide personal mobility before you’re even calling it personal mobility and it has been a major point of our life here in the States and lives throughout the world the epitome of that change is an advertisement that Ford Motor Company pulled out in the early 20s but opening the road to all mankind inciting what became an infamous dream to go where no one’s gone before in the comfort and safety of this new Vigo called a car and what roads they have been here are a few snapshots of the kinds of roads that we have today here in the States in Europe and in Asia massive significant contributions in terms of engineering in terms of landscape in terms of economic impact environmental impact so significant in fact to the tune of something on the order four million miles of roadways just in the United States of America as of close 2013 you’ll find in all my numbers transportation lags a little because I got a lot of stuff to count a lot of stuff to count and when the road cars aren’t on those roads they sit in parking lots like this and that has created a massive amount of introduction of newfangled technology to allow us to go vertical but sadly and unfortunately most of the parking spaces in the US are more like this they’re empty why are they empty here’s why at the highest end estimate we estimate over 2 billion car parking spaces in the United States of America that is inclusive of everything stores doctors everything so a few more stats and we’ll continue on with the juice to the matter today in the United States there’s something called a car park that car park represents all cars that are in the United States it’s about 245 million it’s about 1.1 billion for the world that’s inclusive of the 245 about 99.99% of the time in the United States when you are in a car you are driving what we thought they call intent and purpose that means you are going from point A to point B with a reason long gone are the days that you’re driving for pleasure or just driving not only that eighty-five percent of the time you’re in a vehicle by yourself and these numbers are gonna come play shortly and then unfortunately sadly and terribly and tragically forty two hours a year roughly on average every commuter sits in traffic so this is the background of the industry that has in essence defined who we are as Americans who we are as the United States and what we are as a global people and this industry 120 years old is under an exceptional existential threat actually five threats I’m gonna share those today and how they’re responding threat number one and probably the most interesting threat is that the transportation industry long the place for the professionals is now the place for the non-professional the domain of the traditional professionals going away cruise automation one of the first and one of the most interesting young man by the name of Kyle Vogt started the company how did he start the company because he started another company about gaming he was an MIT dropout realized that people like to play games electronic games put a company together to have a video stream of people playing games it was the first e games Amazon bought it for 1.1 billion dollars you as cash he took that money turnaround I hate to drive so he turned around created a company called crews with the stated goal of making autonomous packages it could be added to a vehicle for less than ten thousand dollars professionally installed and you could drive any car made after 2012 autonomously and the industry derided him GM Ford Chrysler and then he got a license from the state and then he put a video out showing it and then he got some funding in addition to his 1.1 billion and then all of a sudden fancifully enough GM bottom just a few months ago in addition we have some other startups coming on we have physicists who have figured out how to use electric motors to create drive trains independent wheels and they’ve created a really cool car that can go forward or backwards or even sideways there’s no concept of a front or back and the designer took that somewhat wait a minute there’s no concept of a front or back I don’t actually need to have a dashboard I can create a whole new car construct that doesn’t have a dash Ford which by the way doesn’t have a radio it’s a whole new car concept and probably the most incredible most interesting and most challenging change that is coming right now to the automotive industry it’s coming from a company called Local Motors that car right there is called the strata 3d it was a 3d printed car it is available today on sale it went on the market 2015 here in Vegas at SEMA now everyone whenever I talk about this as me John I don’t believe you a 3d printed car that can’t possibly be wait it just can’t work watch and the automotive industry responded to that while real car companies get cars and movies local motor said okay and in the first example of response by the OEM all OEMs banded together went to Congress and put into place legislation that creates a limit on the number of vehicles that local motors can’t produce but it’s not limited to local motors and not limited to a company down in the right hand corner of the screen there is george hotz he’s today 26 10 years ago he was 16 at the tender age of 16 he broke the very first iPhone ever the security package is called pawning he decided he didn’t like and didn’t trust the software that came from cars that he would buy so he said he was gonna write his own software so he bought a Honda Acura for thirty two thousand dollars bought some stuff online and built an autonomous package and is today driving around the streets of San Francisco I’ll be it illegal he doesn’t have a cert but he’s been backed by VCS on Sand Hill Road to the tune of about three and a half million dollars he has a standing bet with Elon Musk that if he can build a better autonomous package of software sensor system Elon Musk will entertain putting it into the Model S but it doesn’t stop with there you’ve seen and heard Google Google actually said very early in their time listen we don’t believe that you can go from this idea of human controlled vehicles to computer-controlled vehicles on the logical step there has to be a natural break they had research that suggested to them that no possible way could a human being take over control in that instantaneous moment when the computer said oh my gosh what do I do but there was no way for that to possibly happen so they went all in and four years ago they created this vehicle that you see right here you’ll note in the second picture right here it has no steering wheel no gas pedals no brake the response from the automotive industry at large was to deride them to call that regretting credibly incredibly incredibly foolish a failure in engineering and then not even six weeks ago too much trumpeting in social media Ford Motor Company unveiled that it will in fact produce an autonomous fully autonomous vehicle in the year 2021 and guess what it will have no steering wheel no gas pedals or brakes the response to the companies that are coming in is denial legislative holy crap it’s actually gonna happen and we better do something about it example one and what’s really cool is it’s not just the car industry the guys from Google believed that they can do this for trucks and in fact they went off to a start up and created Auto that just got bought by uber for six hundred eighty five million dollars because uber now believes that they can actually do self-driving in trucks as well which is a huge industry about a trillion dollars just a little less than a trillion dollars in our US economic impact big deal and so here we go some insights are coming what’s happening with all that’s going on here IBM did a report trying to figure out there’s a number of them in there but I’ve been trying to do a report say hey let’s go talk to the auto exact scene find out what’s going on and in the auto execs there you go you take a look at it right there nineteen percent felt that they were prepared for what’s gonna come to them in 2025 and about seventy one percent said hey I’m somewhat prepared and oh wow ten percent they weren’t prepared at all but then it gets even worse they went and they said hey how adaptable are you thirty three percent said that they were adaptable to the facing of challenges that were going to be coming in about the next ten years but 59 percent hain were somewhat adaptable and about eighty percent they’re not adaptable which then got PwC to come across with the following quote well let’s be very clear ladies and gentleman probably about ten years from about 2025 many of the major automakers that we know and love today will no longer be around and the incumbents are challenged by this courtesy of my friends at venture scanner we have gone from an ecosystem of Tier one suppliers top-down very reginald istic we know what’s going on very disciplined to oh my gosh it’s the wild wild west and anybody who has an idea can in fact come in and is in fact coming in now why are they coming in let’s take a quick look at that threat number two is your digital life that life that you live online has Worth has a lot of Worth and it’s one of the biggest reasons why all these incumbents sorry all these newcomers are coming in and challenging the incumbents so what are you worth in your internet traffic here we go one of the guys that works for me we do this as a study for our clients but three years ago we started in 2013 what we did is we took a thing from privacy fix we put it into his browser we said hey let’s go look at what happens online for a three month period and privacy fix comes up with a really nice report and that report has these icons and so in this period of time it’s about three months into August of 2013 of colleague of mine we studied that’s what he did but then privacy fixed says hey we take this and we’re gonna figure out we’re gonna pass it to something tref is calm tref is calm is a company out of Boston very similar to excuse me like Morningstar they tracked the adword economy for Google and in the case of my buddy Kevin who is my colleague his period of time his three-month period of time was worth about 565 hard Colker dollars from the brands to Google to nuance his life but it didn’t stop there they also looked at something called Google Analytics that thing that you do as a webmaster and about 25% of the site’s also had Google Analytics so not only were they giving away you paying cash they were also giving away all this rich data as to what this person Kevin was doing online when where why how what but it didn’t stop there it also incorporated the facebook like button and over 94% of the sites who had nothing to do nothing to do past 8 into Facebook who wasn’t involved at all just because I had a little thumb up and thumb down because the Terms of Service said whatever you get we get what was interesting to note for this particular insight was that Kevin was using one machine but he has lots of machines at home whether their laptops yeah a desktops whether they’re his Android phone or his wife’s phone he’s all in on the Android Google ecosystem so much so that last year end of 2015 we estimated his impact economically to Google at about fifty five hundred US dollars one family family of four Chicagoland area and so with that in mind it’s no wonder that Apple and Google and others are coming and trying to do what they do inside of the car remember those numbers 99.99% the time you’re in the car for a reason eighty-five percent of time you’re by yourself and forty two hours a year you do nothing but stick in traffic that’s rich oh and by the way when you’re in a car because it’s 99.99 percent of the time you’re doing something how cool would it be for me to know where you’re going so I could influence what you’re doing wait how you get there so Apple and Google are coming in but what are they actually doing right there every car company has a connected car so the response was right we’ll do connect it will do connected so what this offering will make it cool but unfortunately not cool kelly blue book comes out and says it’s problematic consumer reports comes out and says it’s actually terrible and sure a lot of our consumers respond back this this is terrible this is an absolutely horrendous experience but everyone’s got one and they’re branded and then all of a sudden Apple Google say well look at that you have 25 26 27 28 different experiences no wonder everyone doesn’t like you we know what we can do because guess what for 24 hours a day seven days a week if you’re under the tender age of 18 that phones with you all the time if you’re between 18 and 35 it’s with you flush them – one foot if you’re over 35 it’s plus or minus three feet the phones with you all the time and you know that ecosystem you know that you wash so guess what we’re gonna do Ford Motor Company and all those we’re gonna come to you we’re gonna make your life easy we’re gonna give you our software we’re just gonna give it to you it’s a gift of god it’s beautiful it’s wonderful so what you’re gonna have is what you have up there and all of a sudden you add Apple and there you go Dom boom gone are the brand’s gone are the sub brands in fact in 2013 at the Geneva Convention show where the automotive companies were showcased our 2014 where Apple was coming out with they had a Kia on stage for $28,000 you know who the other car was on stage was a Ferrari for $110,000 both had the same interface and one journalist so go look at the Apple cars now what’s interesting to note is Toyota’s is one exception that’s not doing this we don’t have time in today’s session to go into when you leave from here you’re gonna get slides and an information cited package and we’ll be able to give you the link as to what Toyota is doing so what’s interesting is what’s next is anyone with a mobile Digital Ecosystem the car companies think they’re only worrying about Apple and Google and they totally missed the point everyone who has a platform ecosystem is coming hard because they want to capture you and they don’t want to lose you to others so you’re looking at Amazon they have Alexa Lexus trying to get into the car Amazon is trying to get in the car you have Microsoft with Cortana Cortana they’re trying to get the car they’re trying to get Bing into the car you have Facebook coming in with oculus rift Baidu who is the Chinese version of google just announced their own China car it looks remarkably similar to the Google car except this in Chinese this is happening and it’s happening fast and furious which brings us to threat number three these ecosystems understand your value and because they understand your value I have created a concept which is part and parcel of how this presentation came to life call the zero dollar car and the zero dollar car is coming far faster to the industry than anyone anticipates or understands so what is the zero dollar car oh wow imagery did not look like that this morning okay that’s a car with sensors on it I don’t know what happened to it it’s a car with sensors on it there’s lots and lots of sensors on it if I show that picture to my friends out of Dearborn or whatnot they say holy cow look at that that’s the most remarkable engineered car ever it will save the lives of people and they’re right in fact they’re terribly right and they do that because of this particular picture and that is thirty-eight thousand three hundred lives were lost in the US alone dude a funicular accidents in the Year 2015 so the engineers say we have done all this cool work to create this car with cool sensors to stop that number or to reduce that number but then I bring it to the West Coast friends and they’re like well wait a minute but look at that John look at that picture what if we were to take these sensors and combine them together we get some accurate weather and what if we took these sensors we combined them we paid their for traffic I get well sorry you guys did it for for collision avoidance I can use it for traffic I now know exactly what you’re doing and why you’re doing it I don’t have to guess why you’re stopped oh and that wonderful most incredible set you know sensor that was created the microphone so you can keep your hands on the wheel eyes on the road safety is really impressive when 85% of the time you’re alone in your car and 99.9 percent of the time you’re talking you want to go somewhere so you’re gonna talk to your car no way hey take me to Starbucks what’s near me what’s around me how insightful is it I can tell if you’re a man or woman young or old I can give all sorts of demographic information coupled this is why we want the sensors and so in the scenario that I paint out we’re gonna go and take all these Center all of these sensors and we’re gonna package them the first one was whether that’s package one the second one is package two which is your traffic and we’re gonna start selling them in this case $7,000 $6,000 $4,000 $7,000 etc I’m gonna sell them as a package now who’s gonna buy them people are gonna buy them our agencies so NOAA National Oceanic Atmospheric agency that agency is charged with trying to figure out whether impact so for instance we just had hurricane Matthew before that was hurricane sandy a sixty billion dollars of economic loss with hurricane sandy and if they had had better accurate more up-to-date information they could have had it by them down to about twenty billion dollars so their answer is to try and put more more information out or more sensors to get weather well when they found out that they could potentially buy weather packages like this they were like I’m all on board for that and then every state unbeknownst to most of you has a requirement to drive every one of the miles of roads that are in their state to ensure something called drivability so that they can respect it and repair it and when they found out that they could buy data that they didn’t have to drive and that the data was accurate and more importantly it was the data that you were actually generating cuz you were driving the road Wow yeah no we’re on absolutely and then you’ve got insurance companies who want to understand how you’re driving and what’s going on there and whether or not you’re a good driver bad driver or other driver and then of course you have all the brands who want to understand what’s happening why are you in the car going from here to here and if I know why you’re doing that maybe I offer you that $2 left or that five and five dollar $0.50 latte that you’d normally buy for five dollars if you just take a one-minute deviation that’s why brands want in that’s why they want the sensor data and now when we go let’s go take a look at this I’m gonna go to four I’m gonna go to village for it so I’m gonna go to my Ford dealer and I want Ford to sell me this so when I go there I’m gonna sit there and say great I’m gonna buy a $40,000 car mr. Ford look at me like that’s fantastic no problem before you sign the paperwork you know I’m behalf of Ford an infra patootie we want to sell you the weather package for $3,000 just sign here and oh before you go we want to buy the traffic package for $2,000 and so on and so on until we get down to $0 and I’m like wow that’s great really you’re just taking money off the type of price yeah yeah we’re just taking it off but you’re giving us all the rights to your data oh okay that’s pretty cool and so for those youth who are really smart not not anxious to get off of here you’re like wait a minute you just sold sixty thousand dollars worth of packages but yet you just sold forty thousand dollars of data so what the heck where’s the twenty thousand dollar difference John aha that’s why the platform companies want in they understand that they can monetize this at ways that are unbelievable now when I first started this I said Ford could do this here’s my threat number three Ford can’t do this Chrysler can’t do this BMW can’t do this because they are stuck in an even a based volume centric business model they don’t understand how to do this they don’t understand how to take money they don’t know how to sell say they don’t know how to do this now they sit on the sidelines and they see what Google can do and they’re scared because they believe they want to believe that they can do it but fundamentally they are challenged because they don’t have the infrastructure they don’t have the competencies they don’t have the capabilities so they look and what the response is is we won’t sell data and they try and legislate and they try and respond scenario two you remember the value proposition was $5,500 per from my buddy Kevin well these ecosystems know that if you using them and then you spend time with them what happens is you’re more valuable so here’s what’s gonna happen we’re gonna go in there and we’re gonna actually get the ecosystems to give you the fifty five hundred dollars and you know what you’ll do it why because it’s in your DNA in fact Google started to do this in 2007 when they first came up the idea of the phone at the time Eric Schmidt CEO and chairman said hey I’m gonna give away free phones paid for by advertising and they kind of freaked everybody out that model freaked everybody out but the idea was right what he made a mistake and he won him free it wasn’t free you were selling your data and that wasn’t transparent so the idea died but we’re now at a point with transparency understanding that that idea is gonna happen threat number four everything all of what we’re talking about comes because of connectivity and what you don’t understand is that the systems that we’ve built the phone the cars the trucks that we’ve built have build on systems designed back in the 60s 70s and 80s we fundamentally have an insecure system that’s being connected voraciously with connectivity options and it is a huge and looming security threat our first connected car was in 1922 when the AM radio was introduced into the excuse me Chevy and not only that we’ve been doing connected car to car communication since the early 70s when these gentlemen tried to do something what that has brought to mind though is this concept of cars are hacking and what happened in 2010 is the first paper was written about tacking a car using something at the time called Bluetooth Bluetooth being the idea of connecting your phone into the car and then that paper was followed by an actual hack and then a paper was written in 2014 by Chris and Charlie that outlined a car hack and then they actually did the car hack and what that did that video went out and it went viral and in less than 72 hours nitsa issued the first-ever software recall and the fastest ever recall in 72 hours 1.4 million vehicles were called back the response from Chevy was to investigate legal action against Kristen Charlie at the same show that Kristen Charlie demonstrated this hack a couple of other folks came up and showcased a Tesla hack and what is inch and for you as technologists to understand the difference is halfway through their presentation these gentlemen invited a special guests up on stage and who joined them was JB STOVL the CTO of Tesla and he gave them two security medallions thanking them for their service paying them money under a bug bounty program and then pointing to a whiteboard in the back saying if you think you can hack Tesla we have HR in the back not lawyers we want to hire you Tesla wanted to hire them and as he’s walking offstage he just smiled with a Chesire Cat grin and said for those of you who’ve bought Tesla thank you this was fixed three releases ago point being is that there is a way to do this the right way but the industry is refusing to understand and respect that because they were a hardware first industry and the transformation to become a software first with hardware second is truly huge some will win and some will lose and the hacks continue Tesla that had a remote wireless hack and again they paid they said thank you and they proved that it was fixed three releases earlier and what was most probably damaging and interesting is University of Michigan just released a big paper about the big rig hack I II semis and so the next question that you have to ask yourself with this profile is when will we see an attack on our trucking system we live in a very dangerous time with some very interesting things and the software is at play and what’s happening is the hacks are becoming more and more understood and more and more prevalent and common people are beginning to see and understand them and more importantly we’re putting more and more access into our vehicles this is becoming so concerning that companies like Argus released a report saying hey be careful your dongles are dangerous and they proved it and then the I FBI released the first ever sort of safe sex version of public safety for your car be careful of what you connect be careful getting into a vehicle with something that’s connected now leave you with this quote that you can read here from Jean Stafford give you about 15 seconds now gene Spafford isn’t some kook he’s a renowned security researcher out of the University of Purdue and he issued this quote about 20 years ago and every year people go back and ask him for the state of the quote and he just affirmed the quote again in May of 2016 so threat 5 fret 5 that we have is coming because of this construct of all the data and all the software and our movement and our run in to give ourselves away in something in return and so the question that’s now being asked in Germany is do we have a right to be forgotten and Germany has said yes and they’re now forcing Google and others to search result change remove information about an individual or an entity and in fact Germany’s going after pan European movement and what people don’t understand is if in fact they’re successful that in fact someone says there is indeed a right to be forgotten then there is an implication on the other side that some of us somebody has an obligation to make that right fulfilled and as technology providers you’re in the room this should concern you it is only beginning to concern the automotive they’re only beginning to understand this they’ve never had to worry about ship and remember they’ve always been ship and forget I give you the car I sell you the car and I walk away the dealers are independent the third parties are independent I don’t care you want more money for me you want me to do something buy another car but now they have to think about this and so the question that’s in front of everybody us you the auto industry the transportation is Racine is do we have to begin to build product with the big red button that says upon the exit I hit the button and I’m forgotten my drive is forgotten where I went is forgotten how I was forgotten and then is there a new business model that comes out of it that if you hit the red button you pay $2 for a mile driven because we’re gonna erase your data but if you give us your data it’s only 20 cents a mile driven is that the new business model and right on the town on the head and in the heels of the right to be forgotten is privacy in a world where everything is connected whether it’s our home or others in a vehicle that I can turn the mic on and there’s indicator that the mics on if I can turn the mic on I’m gonna put cameras in the car sensors in the car I’ve weight sensors in the car I know if there’s a child in the car so I know how not to deploy the airbag I know if there’s people in the back I can pretty much accurately determine how many people by listening I can figure out what’s going on so in all that do we now have to start contemplating warning labels for the vehicles that you buy or the vehicles that you get into that look like this now again you laugh and that’s kind of what happens when I give this talk to other people they laugh and they’re like yeah that’s kind of ridiculous but then I was in the state of California in June and another convention giving them a talk not about this but some other stuff and I walked on the show floor as I did yesterday interviewing some of you trying to understand your motivations for being here and when I walked on the stage and when I walked through there I happen to come across the following we already are beginning to understand that life as we know it is changing and so the question as technologists is what do we do about it and right now the companies Ford Chrysler GM they’re so concerned about some other things I haven’t even thought about this yet but the new guys coming out whether they’re from Israel London China Silicon Valley right here in Las Vegas they’re thinking about it and they’re trying to create new products and new challenges which are challenging the government’s and challenging the companies now all this comes because of the following software is eating everything it’s an infamous quote that came from Marc Andreessen and his comment was that software a software first perspective allows rich latitude in thinking and in creating and everything is being eaten by software he was quickly followed by David Kirkpatrick a renowned journalist who said every company is now a software company and what he was trying to convey to people is that you who used to be even a based volume sense a big volume ship I forget about it once it’s gone that business model is dead your software company you are gonna be building software that’s going to convey exceptional value and the carcass of that value will be the thing you used to call your product but the real value for you is software and the data and the business models that it enables and if you as a company cannot get your head wrapped around it you will not be long for this business world and ran writer author is quoted as saying we can evade reality but we cannot evade the consequences of evading reality ladies and gentlemen I was asked to give you some what are the GM’s and the Chrysler’s and the BMW is doing and they’re doing some things Ford’s trying to create a Ford mobility company BMW is trying to acquire GM’s trying to acquire and they’re trying to move they’re not putting their head in the sand they’re trying to move the problem is the movements are limited they’re small they’re traditional movements of a company who’s not trying to destroy his current business in fact mark fields was quoted in March when asked with this new company that he created for mobility will that people be allowed to build product for competitors and he said no we’re not gonna build to destroy Ford we’re gonna build to extend Ford it’s a noble thought but for those of you who understand process and transformation it’s not enough to say no you have to change yourself or you will be changed by others and my favorite all-time quote from my favorite purported Chinese curse is may you live in interesting times today is by far the most interesting time on any dimension that you can measure technology economics the world human suffering is depreciating we’re doing wonderful things with technology all that stands before us is the decision to make a decision to do something to embrace the new digital revolution to adopt the new business models and to look at our history through the lens of niceness and hey it’s in the past and to look forward with opportunity and richness I enjoy and welcome you on the journey of this most interesting time thank you very much


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