For those lucky enough to be in the heart of Silicon Valley, they have been living at the forefront changes that have been impacting society across the board from personal to professional. These changes have, in many respects, been driven by the technology developed in Silicon Valley. From social media to the Internet itself, there is no doubt that the technologies developed over the last 50 years have definitely had a profound impact.
There is no doubt that the technological changes have caused a great deal of upheaval from both personal and professional perspectives. Indeed, while most commentators will focus on the changes in processes, the most profound effects have actually been in how we think.
Indeed, if one looks at the tensions that have boiled up recently, many of the great debates occurring across vast swaths of society are grounded in significant differences concerning how issues are perceived. Whether one is discussing the best approach to reviving the economy or the importance of work-life balance, these differences and how to overcome them are becoming the lynchpin to success.
While many would argue that overcoming these perceptive differences has always been a key factor in advancing society, it is increasingly apparent that it is even more important than before. Indeed, it is thanks to the very technology that Silicon Valley has developed over the past several decades that we have to thank for this revolution in thinking.
Social media has been the catalyst for the blossoming of new ideas, both good and bad, thanks to the ability of individuals to distribute their thoughts instantaneously. However, it is not only about the ability to distribute thoughts but it is also the ability to develop communities around said thoughts virtually overnight.
While social media has been the catalyst, one must not forget that other technologies have also driven a change in mindset for an increasing percentage of the population. What exactly is meant by a change in mindset?
There are a number of changes that one can point to related to the growing importance of technology but the ones of most relevance to this discussion are standardization and the increasing prevalence of choice. Indeed, these two changes are critical to understanding why understanding and retaining the “hearts and minds” of individuals whether they are consumers or employees is increasingly critical in today’s economy.
In many respects, the availability of technology has accelerated the standardization of processes across the globe. An increasing number of processes that in the past relied on human skill and knowledge are being upgraded and automated thanks to technology. What that ultimately means is that consumers and individuals do not have to put up with slow, antiquated processes.
Indeed, consumers and individuals are increasingly demanding real-time responses for a variety of processes both public and private. It has caused many individuals across a swath of businesses to question not only traditional norms but also what the new norms will look like thanks to technology.
Another aspect that technology has driven is to provide choice to consumers and individuals. There is an increasing expectation that choice is the defacto standard and not the exception across a variety of industries. Whether it is food options to automotive features, consumers and individuals are expecting a plethora of options that are tailored to their unique needs and tastes thanks to technology.
So what do standardization and choice have to do with winning the “hearts and minds” of consumers and individuals? The simple answer is everything.
In a world where startups and businesses are standardized from a process and operational perspective, convincing consumers and individuals to remain loyal will increasingly necessitate appealing to and ultimately winning their hearts and minds. Silicon Valley again has been on the bleeding edge of this battle to win “hearts and minds”.
One could argue that Silicon Valley’s organizational obsession with cultural fit and the need to be “authentic” in marketing and advertising are some of the first initiatives towards winning the “hearts and minds” of consumers and individuals. Fortunately or unfortunately, depending on one’s perspective, consumers and individuals are demanding much more than what they are increasingly perceiving as “lip service” particularly in a post-COVID society.
The New York Times recently coined the term “YOLO economy” to describe how some lucky Millennials who were employed and saved during the pandemic are now willing to pursue their true individual passions. Indeed, one could argue that the post-COVID economy will be the 2020s version of the 1920s where new ideas come bursting forth to fundamentally remake the economy and society.
So what does this mean for startups and businesses? It means that they could be in for a bumpy ride when it comes to responding and appeasing the needs and demands of both consumers, employees and the general public.
No longer can startups, businesses or any other organization merely pay lip service to principles and vision via marketing and process. Consumers, employees and the general public will increasingly expect these startups and businesses to have processes that truly integrate the principles and vision that they espouse. If not, startups and businesses can and should expect significant turnover from both sales and employee perspectives.
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