Today, we are very happy to have Andy “Jake” Jacob join us for our American Leader Series. Mr. Jacob has been called one of America’s Leading Experts on the customer sales cycle, and is also known for correctly making many early predictions and observations about consumer finance, technology, and e-commerce. Today, we would like to get Mr. Jacob’s thoughts on some recent news stories, and ask his expert opinion on the future of some new technological innovations.
Andy, thank you for sitting down with us for our American Leader Series. Let’s dial back for a moment: In 2009, you correctly predicted that the market for e-commerce would surpass one trillion dollar within 5 years. At the time, your prediction was scoffed at by other analysts. However, your prediction proved correct. How did you see the explosive future of e-commerce before so many other experts?
-In 2009, I had an incredible amount of online data that other analysts did not have access to. In addition, many analysts were not focussing in the online lead space like I was at the time. My company had built the internet’s largest online lead exchange, and I had access to a tremendous amount of lead data. When I extrapolated the data from my lead exchange, and cross indexed it with what I thought would be a major shift to smart phones in 2009, the prediction was self evident. The United States is driven by consumer sales, and I knew the rest of the world would catch up quickly as everything was becoming more connected. When I made the prediction that e-commerce would topple 1 trillion dollars in e-commerce within 5 years, it was confusing to many. Well, last year, worldwide e-commerce went above 3 trillion dollars, and I expect it to top 10 trillion dollars by 2022. To be frank, even though the prediction received news coverage in 2009, it was pretty much a no-brainer for me based on my data.
Andy, let’s get your take on some business news hitting the wires. Right now, there looks like there is a battle brewing between Uber and Lyft for the electric scooter market. Who will win?
-The scooter market is really the electric mobility market. Anything that moves people around without making a huge impact in the environment. Everybody wants in this market. I was in San Francisco recently, and saw the scooters and electric bikes cruising around. What I found interesting is that the
scooters looked somewhat dangerous. Especially mixing in with vehicles. The riders had no helmets, and many were driving the scooters in the flow of traffic. Scooters hit it on a lot of levels: people want fun, they want cheap, and they want to keep the environment clean. Scooters hit on all three. The only thing that’s going to slow down scooters is that I believe the government is going to want to get their claws into them. They are motorized, and on the streets. This will become a battle between lawyers and governmental agencies. I don’t believe scooters are a flash in the pan, but just watch the class action personal injures attorneys jump in and try to spoil all the fun. With regard to who is going to win the scooter war. what we really are taking about is the overall electric and battery mobility market. Uber looks to have the inside track, but I wouldn’t count out Lyft in the electronic and battery mobility market. The thing that Lyft has going for it as they have positioned themselves as the anti-Uber. They are the company that cares about the environment. This is excellent positioning for them, and if Lyft keeps this messaging on this track, they will have many younger screaming fans loving theirs products.
Andy, you have written about implantable technology. People in Sweden are now wearing chips implanted in their hands to make payments. How soon before you believe people start implanting chips on their bodies in the United States?
-Faster than many people think. When I originally wrote about implantable technology, many people thought I was crazy. Now, people in Sweden are swiping their hand to pay for everyday items with an implanted chip in their hand. I believe the government will try and jump in and provide some oversight before it goes mainstream in the US. Once it’s approved, it has the possibility of moving very quickly with one giant exception. I recently tested an Amazon Go store, and it appears that Amazon is building a technology that could bypass implantable technology all together. They are using motion sensors and AI to track your every move in their “go”’stores. If Amazon, or another company, can produce this motion sensing technology on a mass scale, and combine it with AI, they will render implantable technology obsolete before it hits scale. Amazon often times gets ahead of the curve of what people think is possible.