Thank you for sharing your thoughts on consumer technology. The future for consumer tech does seem optimistic. However, it is also going to be rewarding only for those with companies that innovate on a totally different level. With a lot of new startups in the consumer technology space, it will be interesting what a company did to get through the 2020s successfully. Would it be creating new markets like Airbnb and Uber did? Or would it be about tapping into behavior patterns the way TikTok did? Or would it be a combination of all the known strategies? I hope to see more companies utilizing persuasive technology to empower individuals, solve social issues like hunger or, find a way to work together to slowing down climate change.
thanks Swetha! my guess is we'll see successful consumer companies in the 2020s in both flavors - ones that create whole new behaviors and thereby markets, and others that tap into existing consumer behaviors. i do think we will see many more companies focused on solving some of the post important challenges of our era, such as the ones you mentioned.
Thank you for writing this post. However, the companies you mentioned are Doordash, Airbnb, Wish, Affirm, and Roblox were started in 2013, 2008, 2010, 2012, and 2006, respectively. Outside of a few recent breakout consumer companies like Bird, many VCs I've spoken with in the past few years have struggled to find a consistent rhythm finding and investing in consumer deals. As you stated, Covid has accelerated the need for more tech-based, consumer-focused companies. However, the established incumbents you mentioned (Airbnb, etc) mostly benefit. I'm curious to know what the next big, consumer-based companies will focus on.
Kevin, thanks for the feedback. You're right that these companies were not started in the past couple of years. Their IPOs were the catalyst for me to write this essay, but not the reasons that I'm so excited about consumer technology in the 2020s. I could have done a better job explaining this. The four reasons -- 1) Large categories of consumer spend need reinvention through technology, 2) Behavior shifts are driving the adoption of new products and services, 3) Covid-19 has been an accelerant for consumer technology startups., 4) Consumer and enterprise are increasingly blurring together -- all apply to my excitement for new companies getting started right now. I'm seeing early-stage eCommerce companies grow at a blistering pace, companies in education technology monetize and grow organically like never before, companies that are consumerizing healthcare and gaining rapid adoption, and much more. The jury will be out for several more years until these stories become large exits or public companies, but I believe when we do the retrospective on this era we'll find that it was very fruitful for consumer technology. Hence this post :).
I’m a huge fan of the consumer space, and, like you, I believe there is still so much opportunity for disruption especially in healthcare and education. I appreciate your additional perspective here and thank you for writing this blog post. It’s very helpful information.
Thank you for sharing your thoughts on consumer technology. The future for consumer tech does seem optimistic. However, it is also going to be rewarding only for those with companies that innovate on a totally different level. With a lot of new startups in the consumer technology space, it will be interesting what a company did to get through the 2020s successfully. Would it be creating new markets like Airbnb and Uber did? Or would it be about tapping into behavior patterns the way TikTok did? Or would it be a combination of all the known strategies? I hope to see more companies utilizing persuasive technology to empower individuals, solve social issues like hunger or, find a way to work together to slowing down climate change.
thanks Swetha! my guess is we'll see successful consumer companies in the 2020s in both flavors - ones that create whole new behaviors and thereby markets, and others that tap into existing consumer behaviors. i do think we will see many more companies focused on solving some of the post important challenges of our era, such as the ones you mentioned.
well written Nikhil! I couldn't agree more
cheers Eric!
Thank you for writing this post. However, the companies you mentioned are Doordash, Airbnb, Wish, Affirm, and Roblox were started in 2013, 2008, 2010, 2012, and 2006, respectively. Outside of a few recent breakout consumer companies like Bird, many VCs I've spoken with in the past few years have struggled to find a consistent rhythm finding and investing in consumer deals. As you stated, Covid has accelerated the need for more tech-based, consumer-focused companies. However, the established incumbents you mentioned (Airbnb, etc) mostly benefit. I'm curious to know what the next big, consumer-based companies will focus on.
Kevin, thanks for the feedback. You're right that these companies were not started in the past couple of years. Their IPOs were the catalyst for me to write this essay, but not the reasons that I'm so excited about consumer technology in the 2020s. I could have done a better job explaining this. The four reasons -- 1) Large categories of consumer spend need reinvention through technology, 2) Behavior shifts are driving the adoption of new products and services, 3) Covid-19 has been an accelerant for consumer technology startups., 4) Consumer and enterprise are increasingly blurring together -- all apply to my excitement for new companies getting started right now. I'm seeing early-stage eCommerce companies grow at a blistering pace, companies in education technology monetize and grow organically like never before, companies that are consumerizing healthcare and gaining rapid adoption, and much more. The jury will be out for several more years until these stories become large exits or public companies, but I believe when we do the retrospective on this era we'll find that it was very fruitful for consumer technology. Hence this post :).
I’m a huge fan of the consumer space, and, like you, I believe there is still so much opportunity for disruption especially in healthcare and education. I appreciate your additional perspective here and thank you for writing this blog post. It’s very helpful information.