Welcome to the Millennial Age

6 12 2015

The Nature of Business

The next ten years shall bear witness to social businesses outperforming traditional businesses in a big way, and the reason for this can be summed up in one word… millennials.

 

Over half the world’s population is now younger than 30 years old. Two generations have now grown up with the internet. It doesn’t take a degree in anthropology to notice that the world is very different today than it was 30 years ago.

In 2010, 1.2 billion people were online globally. By 2020, that number will reach 5 billion. Nearly 3 billion more people, along with their collective intelligence, will be available for value creation and delivery via smartphones, tablets and internet cafes. The capabilities being unleashed are unprecedented.

Uber, the world’s largest taxi company, owns no vehicles; Facebook, the world’s most popular media owner, creates no content; Alibaba, the most valuable retailer, has no inventory; Airbnb, the world’s…

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