New technology
How early adoption of emerging technologies can shape the future of businesses and industries
In a world where change is the only constant, technology's journey from its infancy to becoming a central part of our lives is a fascinating and enlightening one.
Seth Godin, a visionary thinker, introduces the concept of the “77% Threshold,” a principle that highlights the critical moment when new technologies or systems become important enough to warrant a shift in our approach, potentially reshaping entire industries and the way we live.
Imagine the early days of the car.
At its beginning, it was barely able to compete with horses, the prevailing means of transportation at the time.
Centuries of improvement in horse-based transportation systems made the initial stage of automobiles seem impractical: Rare roads, few gas stations and unreliable vehicles.
However, those who dared to imagine a different future, and embraced the car despite its flaws, were at the forefront of revolutionary change.
This pattern was repeated with the advent of electric cars.
Initially, electric cars were limited by range, space and charging logistics, but they faced skepticism.
However, as Godin points out, the essence is not to wait for a new technology to outperform its predecessors, but to realize its potential early.
Early adopters play a critical role in improving and integrating new technologies into systems that eventually become the new standard.
Take Herbie Hancock, for example, who discovered electronic gadgets a decade before his peers.
His desire to experiment led to the creation of some of the most famous jazz pieces of all time.
Or consider a landscaping contractor who initially scoffs at power tools for their cost and efficiency, then risks obsolescence as the technology and regulations surrounding power tools develop and mature.
In the world of media companies, resistance to change can be especially harmful.
