asymmetric information
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No matter what language people speak, there is much information that is not in their language. Right now, most of the information available online is in English, but that won't always be the case. Google has been interested in translation, especially as it applies to searching. As of this 2002 lecture, automated translation is not perfect, but co-founder Larry Page reports that they are working to make it better.
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Winblad believes IBM has done an extraordinary job at establishing itself as a leader in software. IBM is proactive with acquiring early stage companies and partners well. Microsoft is successful because they view everything as a threat and don't take anything for granted, she says. Linux is still a force and will not easily go away because it is really hard to kill large companies in the software industry.
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Raikes talks about how companies can be successful at software and hardware, but only within a certain scope. If you're looking at the overall market, it has to be either hardware or software, he says. Within a niche, it is sometimes important to do both.
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Microsoft came knocking, but they and Yahoo! could not agree on a price, says Sue Decker, president of the search engine and online community. Decker attributes the incomplete partnership to a difference of vision in the potential value of the company, and says that in its wake, Yahoo! is weighing a number of options for the future.
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Yahoo! President Sue Decker explains the search engine's testing of Google tools to help close the gap between user search and moneymaking ad clicks. She explains that the partnership was part of the due diligence necessary to benchmark Yahoo!'s own capability to turn search engine users into those who buy from well-targeted on-site ads.
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Ryan Phelan, founder and CEO of DNA Direct, talks about the vitality and the role of information in the medical field.
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When CEO Eric Schmidt started at Google, his job was largely centered around providing some organizational design. The culture was working well but the company needed more structure. He hired a financial and controller system, instituted staff meetings, and set and reviewed quarterly objectives.
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Raikes explains how Microsoft has 5 computers for every employee, close to 70 subsidiaries around the world, and only 40% of their revenue comes from the Unites States. Microsoft's revenues this year will be around $36 billion, or $100 million a day, he adds. Soda is free for employees and over 3 million cans of Coca-Cola are consumed a year.
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Importance of the Community and Data and Process Automation in Businesses
Stanford / Entrepreneurship
Polese empahsizes working with the community and the role of data and process automation in business.
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Hawkins is working on his third start-up. Besides starting Palm and Handspring, Hawkins also followed his passion for theoretical neuroscience, the study of how certain parts of the brain work from an information theory point of view. He started a non-profit research institute called the Redwood NeuroScience Institute. Through this experience, he learned that starting a non-profit is just like starting a business.
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Raikes explains that PowerPoint was created as a new way to present overhead slides. Microsoft made the bet that people would be willing to change the way they present information and launched PowerPoint into one of their most successful applications. You have to listen to your customers, but you also have to see beyond what your customers do now to what they might do in the future, he says.
