As Jon Reed has a break from his colleagues a well earned week away, switches off his work notifications and recoups from the madness of 2020, I have the privilege of pulling together this week's Enterprise Hits and Misses. Enjoy.
Lead story - Tech giants leaves Washington largely unscathed after a grilling from US legislators
MyPOV:As was expected, the showdown between the so-called Robber Barons' of the 21st Century and US politicians last week was less of a hauling over the coals and more of a grandstanding opportunity for legislators to show they get tech'. Opportunities were missed to get a deeper understanding of the implications of centralised power online from the likes of Amazon, Facebook, Apple and Google, with Democrats and Republicans alike straying towards partisan topics of interest. Stuart's scathing write up -Big Tech goes to Washington: Big tech goes home untroubled - but what did anyone expect?- captures the mood nicely:
...the tension between the purpose of the session and the compulsion of politicians in such circumstances to posture, revel in their Perry Mason moment' and act up for the cameras as the Grand Inquisitor that most of them think they are, but emphatically are not. It's been seen time and again, both in the US and other political fora around the world, that the only way to get good' results from such sessions is to ask a series of short, to-the-point, simple questions that demand straight answers and provide no room for equivocation.
The COVID-19 pandemic meant that proceedings were carried out virtually, which brought its own unique problems. However, the tech titans largely came away unscathed, with the CEOs listening to their PR Chiefs and giving answers that were non-committal at best, avoidant at worst. But the entire event was overshadowed by President Trump taking to Twitter (the irony) to declare that he will take actions into his own hands if "Congress doesn't bring fairness to Big Tech".
Until next time though, Silicon Valley can largely sleep easy. Stuart:
I went in with low expectations so I emerged without disappointment. To be fair, there was some indication that more research had been done on this occasion by some of the sub-committee members - or their interns - with emails and past comments thrown in the face of the CEOs, particularly Zuckerberg.
But no blows landed and no serious damage was done. If looked at in a bread and circuses' sort of way, there wasn't even the sight of any of the titans losing his cool under pressure.
On this side of the Atlantic, British politicians were also dwelling on the the impact of digital business on the broader economy (or so the headlines would have you believe). The mainstream media caused some hysteria, claiming that the government would be slapping a new tax' on online sales in order to level the playing field for bricks-and-mortar businesses and help raise 2 billion a year. The truth? Stuart explains why that'snot quite the case...:
What is happening is that the UK Government, looking ahead to the 2023 re-evaluation of business rates, has issued a Call for Evidence consultation document to invite comments from interested parties- including Amazon et al - on whether there's a better way of doing things. Feedback will then be scoped into a review in 2021 - after the No Deal' Brexit deadline has passed and when who knows what will be happening COVID-wise.
So, online tax to save the economy? No. 2 billion a year from making the Amazons of the world pay their due? No. Nice bit of hyperbole to froth up the right wing mainstream media? Job done!
diginomica picks -my top stories on diginomica this week
Vendor analysis, diginomica style
Use cases galore -They're the bread and butter of diginomica content and this week we saw a swathe of use cases come in, tackling a variety of change issues.
Derek's grab bag -With all the fearmongering concern around the rise of the robots and a future that will see us ruled by AI overlords, it was refreshing to see Neil drill down this week on whyArtificial Intelligence will not resemble human intelligence. However, there will be AI that is extremely useful. Neil notes:
We are not close to "situational awareness." I see no path to an AGI that is a duplicate (and superior one) to human intelligence. Our current efforts are not much more than point solutions. Nor do I see the need. Airplanes don't flap their wings, they fly higher and faster than birds.
What I do see, however, is a third thing - an artificial intelligence that is different and superior to human intelligence. We will have the technology for this in this century. While the relentless push to AGI raises serious ethical questions, they will not moderate progress.
It's worth checking out Jerry's view on whetherCalifornia's CPRA will become the standard for national consumer privacy legislation. His take: the current system puts too much burden on users to understand and manage personal data themselves and nowhere near enough on the companies that collect and use data. And finally it wouldn't be a Hits and Misses without a bit of retail analysis from Stuart -this week he takes a look at John Lewis's post-pandemic ambitions, where the UK household name is set to put digital front and centre of its plans.
Lead story - External consultants can't fill the gap in the digital enterprise
My POV:A piece appeared this weekfrom Steve Andriole, a Professor at Villanova University, which argues the case for internal consulting teams for digital transformation and boldly tells McKinsey, Accenture and Cap Gemini to step aside!
Adriole's take is that external consultants are not only expensive but that they can't get to the heart of an organisation that is having to grapple with wide ranging complexity in the digital age. Instead internal capability must be built - you can't outsource your knowledge. A message I can fully get behind. He says:
Digital transformation requires an integrated understanding of a company's strategic strengths, weaknesses and intentions, and an understanding of the technologies necessary for it to win. Digital transformation also requires an intimate understanding of a company's language, ways of working, culture and the politics that explains what's possible. External consultants simply cannot know these things unless they move in and stay for a long while. More broadly - and this is the key point - "digital" is now the primary competitive advantage a company can exert on its competition. Digital transformation simply cannot be handed off to consultants. There is nothing more "core" than competency in this area.
Adriole calls for an internal team of consultants (in other words, invest in people and build out capability where you have gaps, don't hand off responsibility to a third party out of fear). He concludes:
But the takeaway is clear: rethink the role external consultants play at your company especially when it comes to digital transformation, and then consider how an internal team might accelerate success.
Cyber security
Honourable mentions
An honourable whiff this week goes to Domino's - a companywhich has digital cloutin the market, but might need some lessons in responding to zeitgeist trends. The pizza delivery giant had to backtrack on an offer in New Zealand to give anyone with the name Karen' a free pizza - the idea being that Karens have had a tough time online lately and the nice ones deserve a treat. However, as is the way of the internet, a backlash quickly grew over claims the company was rewarding privilege. Maybe stick tostuffed crustswhat you're good at, Domino's
However, my primary whiff this week goes to a number of people online that think that a future of work that involves distributed workforces is a terrible idea. First up I spotted this piece tweeted out by our very own Jon Reed, calledOur remote work future is going to suck'. Among the reasons cited include how remote work can stifle your career growth, how it breaks large companies and how it enables you to be forgotten. It seemsGoogle,FacebookandTwittermissed the memo on those points, ha? As Jon put it nicely:
I then spotted a slightlyless dogmatic thread from Matt Ballentineon Twitter, which prompted some very interesting responses from followers about why employees need office space. I'm probably slightly cheating here because I wouldn't class this as a full blown whiff' (sorry, Jon), but it continues on the theme and the replies are worth a read to see how strongly some people feel about it.
My main rebuttal (as someone that's worked from home for 7 years) to the above is:
Anyway, that's me done for this week's Enterprise Hits and Misses. It's been an honour and I hope I've managed to do at least half a good a job as Jon does (this is a mammoth task every week and he makes it all look so easy!). Until next time
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- Stocks Close Higher With Amazon and Netflix Making Big Gains - Barron's [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- Samsung needs a splashy product for its splashy product launch - The Verge [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- Big Tech's Washington hearing will be a spectacle for the ages - Financial Post [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- Dow gains more than 400 points after big tech rally, Amazon and Netflix hit records - CNBC [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- Here Come the 4 Horsemen of the Techopolypse - The New York Times [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- New records show 5,000+ contracts between big tech and the Pentagon - Business Insider - Business Insider [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- Stock market rising on the indispensable companies - Minneapolis Star Tribune [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Tech Stocks Have Been the Markets Stars. Are They Overbought? - Barron's [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Tech Stocks Are Getting Scary. Why Theres No Way to Escape Them. - Barron's [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Big Tech companies have got universities in their sights - Telegraph.co.uk [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- The National Research Cloud: Big Tech And Academic Research - Seeking Alpha [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Nasdaq At Record as Investors Bet on Big Tech to Weather Virus Storm; Dow Falls - Yahoo Finance [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Big Tech saved the day. We still dont trust them. - BetaBoston [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Big tech, even bigger heart, provides shields to Hatzalah - The Riverdale Press [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Cramer's earnings watch: 'If the banks get hammered, things could get ugly' - CNBC [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Big Tech joins fight against Trump's restrictions on international students - The Logic [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Pittsburgh Big tech companies are flocking to Pittsburgh. The foundation was laid over decades - Technical.ly Pittsburgh - Technical.ly [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Ask the Rational Investor: Is big tech too large? - Massillon Independent [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Big Tech went from growth stocks to Wall Street's Treasury bond substitute during the coronavirus - CNBC [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Thousands of contracts highlight quiet ties between Big Tech and U.S. military - NBC News [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- The Information's Takeover Target List - The Information [Last Updated On: July 18th, 2020] [Originally Added On: July 18th, 2020]
- The Tension Between Competition and Tech Are Gaining Global Attention - JD Supra [Last Updated On: July 18th, 2020] [Originally Added On: July 18th, 2020]
- Cloudflare DNS goes down, taking a large piece of the internet with it - TechCrunch [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- As the Revolving Door Swings - The American Prospect [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Big Tech is Poised to Pounce on Banking - Global Banking And Finance Review [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- The Biggest Problem With Investing in Teladoc - The Motley Fool [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
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- 'Big Tech' Pullback Explains Why Bitcoin Rally Has Paused in Q3 | NewsBTC - newsBTC [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Advertiser alliance, media companies, and Big Tech to collude and create a definition of hate speech - Reclaim The Net [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Congress has the legal power to investigate Silicon Valley. Let's make it count - The Guardian [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- The Problem with Big Ideas (and Some Ramblings on Virtual Desktops & Tech's Blurred Lines) - www.waterstechnology.com [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
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- G20 Finance Officials Eye Solution to Digital Tax Row This Year - The New York Times [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Earnings and fiscal debate could be catalysts for stocks in the week ahead - CNBC [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Big Tech firms back suing Trump administration over rule that could drive out foreign students - Axios [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Big Techs latest reckoning is coming as it continues to rack up record valuations - MarketWatch [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Here's a new reason to invest in Europe - WICZ [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Recovery from Covid-19 will be threatened if we don't learn to control big tech - The Guardian [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Tech watchdog calls on Facebook Oversight Board members to demand real power or resign - TechCrunch [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Roku Is A Strong Gatekeeper In Streaming, But Could Be Crushed By Big Tech Analyst - Deadline [Last Updated On: July 22nd, 2020] [Originally Added On: July 22nd, 2020]
- The Conservative Inc. to Big Tech Pipeline - The American Conservative [Last Updated On: July 22nd, 2020] [Originally Added On: July 22nd, 2020]
- Are Facebook and Alexa really listening? 6 common tech myths debunked - USA TODAY [Last Updated On: July 23rd, 2020] [Originally Added On: July 23rd, 2020]
- New Emails Reveal Warm Relationship Between Kamala Harris And Big Tech - HuffPost [Last Updated On: July 23rd, 2020] [Originally Added On: July 23rd, 2020]
- Amazon-led rally boosts Jeff Bezos and Big tech"s billionaire boys - Proactive Investors USA & Canada [Last Updated On: July 23rd, 2020] [Originally Added On: July 23rd, 2020]
- Twitter CEO Jack Dorsey Invited To Testify In Congressional Big Tech Hearing - The Federalist [Last Updated On: July 23rd, 2020] [Originally Added On: July 23rd, 2020]
- EU-wide digital tax on big tech touted as best resource - EURACTIV [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- Cramer says this tech stock rally is not like 1999 but here is what could stop it - CNBC [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- Report Doorcast: Big Tech antitrust hearing preview and the Xbox Games Showcase breakdown - Report Door [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- The one big thing each tech CEO will tell Congress - Axios [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- Big Tech Unmasked as Anti-conservative by Project Veritas - Newsmax [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- Antitrust Hearing Involving Apple Chief Tim Cook and Other Big Tech CEOs Reportedly Postponed - MacRumors [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
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- Zuckerberg, Bezos, other tech CEOs to testify at anti-trust hearing - Toronto Star [Last Updated On: July 26th, 2020] [Originally Added On: July 26th, 2020]
- Lily Allen says she feels sad and calls out big tech amid Wiley antisemitism row - The Independent [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Big Tech feels the heat from Washington and small agency leaders dish: Tuesday Wake-Up Call - AdAge.com [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Overzealous government officials should stay out of big tech's way - Washington Times [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Mint Lite | India covid tally, protests across globe, big tech CEOs & other news - Livemint [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Big tech antitrust probe report from US Congress likely by early fall - Times Now [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Antitrust Hearing Involving Apple Chief Tim Cook and Other Big Tech CEOs Reportedly Postponed [Update:... - MacRumors [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Congressional antitrust probe of Big Tech expected by early fall - The Globe and Mail [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Big Tech chiefs get brief reprieve from govt hearing into their growing power - ARNnet [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Lawmakers keen to break up 'big tech' like Amazon and Google need to realize the world has changed a lot since Microsoft and Standard Oil - Fairfield... [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Stock futures are flat ahead of Fed decision and Big Tech testimony - CNBC [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Ahead of hearing with big tech CEOs, Cicilline says a Biden presidency would lead to regulation next year - Yahoo News [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Democrats hurt small business when they attack Big Tech | TheHill - The Hill [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Tech leads stocks higher as CEOs testify and Fed keeps rates near zero - Fox Business [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- WATCH LIVE: Heads Of Amazon, Apple, Facebook And Google Testify On Big Tech's Power - NPR [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Big Tech to Testify: What Jim Cramer Is Watching - TheStreet [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Apple, Google, Amazon, other Big Tech companies have a climate problem; now being forced to clean up - Firstpost [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Commentary: Big Tech is engaged in a hostile takeover of our country - TheBlaze.com [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Slog AM: Big Tech's Anti-Trust Hearing, COVID-19 Goes to College, Boeing Is Boned - TheStranger.com [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Big tech antitrust probe report from Congress likely by early fall - Reuters [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Vergecast: Big Tech antitrust hearing preview and the Xbox Games Showcase breakdown - The Verge [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Biased Big Tech algorithms limit our lives and choices. Stop the online discrimination. - USA TODAY [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Big 5 Tech Stocks Have Trounced the Market. So Have Their Fundamentals. - Barron's [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Top antitrust Democrat opens hearing by comparing big tech firms to past monopolies | TheHill - The Hill [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Big Tech antitrust hearing could be colossal or mere theater - Roll Call [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Stop with the egg metaphor in discussing Big Tech break-ups | TheHill - The Hill [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]