Exponential Growth (Peter Diamandis)
Overview of the 6 D’s:
- Digitalization: Once you digitize a product or service (photography, finance, manufacturing, biology, etc...) into ones and zeros, that product or service becomes an information-based technology and it hops on an exponential growth curve. Something digitized can be replicated and transmitted for a near-zero marginal cost.
- Deceptive Growth: During the early days of exponential growth, the doubling of small numbers seem deceptively flat. Take for example the first Kodak Digital Camera that produced 0.01 Megapixel images. As it grew from 0.01, to 0.02, 0.04, 0.08... they all seem like zero.
- Disruptive Growth: What follows early deceptive growth is disruption. 30 doublings later something has grown 1 billion-fold. That first 0.01 megapixel Kodak camera is now generating a 10 megapixel image. The result of which is the complete dematerialization and demonetization of film photography.
- Dematerialization: Products and services are becoming bits. I no longer have a clunky GPS on the dashboard of my car, today its an APP on my phone. Think about all the 1980s or '90s technology that now comes free on your cellphone: GPS, two-way video conferencing, HD video, HD photography, radio, books, records, maps, weather and much more. In Abundance I did a quick calculation to show that today’s smart phone comes with over a million dollars’ worth of technologies from the 1980s.
- Demonetization: Once a product/service has become dematerialized into bits, its cost of replication and transmission is near zero and ultimately leads to their eventual demonetization. As an example, digital photography has totally demonetized the field.
- Democratization: As products and services dematerialize and demonetize they become available to billions of users across the planet. Today there are 3 billion people connected on planet Earth. By 2025 that will increase to 8 billion connected individuals. Create a digital banking or insurance product and you have the opportunity to market it across the globe.
We live in incredible times.
We are alive during an incredible time where exponential technologies are demonetizing and democratizing the products and services which can uplift humanity.
Energy, Transportation, Banking, Insurance, Education, Health Care, Communication, Entertainment, and Knowledge are being demonetized and available to billions on Earth.
We will soon have the potential to meet the basic needs of every man, women and child on this planet.
See YouTube video: