As a teenager I had two passions, one was collecting vinyl and the other was collecting books. There was a second-hand bookshop that I use to plunder for inspiration. There were no hand written cards about what the book was like, there was no recommendation engine to say if you like ‘Spies in the House of Love”, you’ll love Tropic of Cancer. It was a bare-bones bookshop with the shelves stacked high with cheap books.

Majority of my time I would buy a book because it was on my hitlist as ‘a classic’, other times it might be the cover of a book that grabs my attention, but it was that element of serendipity that made me come back until the shop closed down.

Bookshops in general have come under threat from a number of different sources. Amazon and the large supermarkets have brought down the cost of buying books without necessarily enhancing the experience. There is still a space for  bibliophiles that transcends the pile them high sell them cheap model. Why there is even a perfume for bibliophiles to capture that old book smell.

Sadly bookshop chains such as Waterstones have in the past few years set a pretty low bar. Shelf space became real estate as oppose to theatre. This is the product of planner-grams that map out what shelves are most profitable but the downside to this is a uniform appearance that strips out any trace of a bookshop’s individual character.

There are some exceptions to this approach with Foyles and Daunt bookshops recognising that they can’t compete on price but can carve a niche based on knowledge and passion for books and reading.  (See photo of Foyles)

To that end James Daunt in a BBC Radio 4 talk on the Future of Books spoke of the need for digital to complement the physical rather than be seen as it’s replacement. This I believe is starting to happen with quality book apps coming onto the market.

Classic books like A Clockwork Orange are being re-imagined in the digital space. The original text is now part of a package of content along with a host of interactive extras that provides a broader perspective around how the novel took shape.

The Silent History book app takes this a stage further by developing the reading experience specifically for Tablet and smartphone. Chapters become game levels to unlock. The narrative enhanced by encouraging the reader to go to physical location in order to uncover more.

Clearly book publishers have seen and learned from the misfortune of music and film companies. I believe they’ve benefitted from change having come more slowly. Probably because books are less prone to collective fashion and taste. Book apps have managed to bridge the personal relationship we may have with a particular title and embellished it with new meaning.

When I went into Foyles, it was not like going into HMV. Certain shelves were carefully curated by staff. You could see there was care and passion that went into those shelves. It was not about shifting as many different types of books as cheaply as possible because that’s Amazon’s space.

People will continue to be passionate about books no matter what medium it takes…so long as that passion comes through. As soon as that passion is gone you’re no better surfing Amazon or the aisles of Tesco.

After almost two years at G2 Joshua I’ve decided to move onto a new challenge. These past two years have been extremely rewarding and fun packed but I wanted a change of scenery.

I’ll be still working in a senior planning capacity and I’ve grabbed an exciting strategic position at Amaze. This is an opportunity to embrace a new working culture. A change that is very exciting and also a little bit scary.

Amaze has a flat organisational structure and doesn’t have job roles in a traditional sense. I’m not sure what that means for my LinkedIn profile but what it does allow me to do is to be flexible in terms of my capacity as a planner.

I have no doubt G2 Joshua will continue to be successful and I enjoyed my time there.

But for me a new chapter begins.

Disruptive Technology as a term has never sat comfortably for me. The best examples of technology for me are those that seamlessly blend in, and not to confuse or to impede progress. Yet when you look at the state of the world economy perhaps we need to go through the pain of seeing old ways being put to the sword and challenged by new ways of raising and distributing capital.

The internet has allowed for new models and models for lending to be devised and shared more rapidly and broadly then ever before. It would be easy to focus on crowdfunding as an example of disruptive technology, but there are also other less prominent examples of markets being turned upside down.

Kickstarter Stats

At the time of writing, Kickstarter has successfully funded 25,000 projects with a success rate of 44%. The total dollar amount pledged stands at a respectable $261m. In the last 12 months Kickstarter has broken into mainstream media, through a number of projects that have smashed their funding goals. There is a human quality to Kickstarter’s model that is lacking in traditional lending. It appeals to a lot of people who aren’t looking to make a personal gain but want the satisfaction of a reward

Contrast that to equity crowdfunding – enshrined in the JOB act of 2012  as a means of harnessing crowds to invest financially in ventures. As Daniel Isenberg explained, the trouble with this approach is that:

1. It assumes that what works for Kickstarter can be packaged and applied to investing.
2. That early stage investing can be simplified and standardised
3. The cost of due diligence will make crowdfunding expensive
4. Crowds can be irrational

It is dangerous to assume that a ‘Kickstarter for Investing’ can be created because I see part of the success of Kickstarter, as  a reaction to the financial crisis. People’s emphasis has shifted from owning intangible stocks and shares to the tangible.

Seedcamp Seedhack

The question becomes how do you address the fundamental problems affecting financial services and the lack of trust in those institutions? Earlier in 2012 Seedcamp launched Seedhack Fin Tech – a hack weekend with the aim to redefine banking going forward. Michael Rolph, Director of Anthemis Group, put forward the idea that

“Examples like Square and Paypal have started to innovate in this market. They work because they don’t just enable people to be paid”

Clearly there are opportunities for disruptive technology startups to upset the applecart of a highly regulated industry and innovate.

Mobile Disruptive Technology

Another example of disruptive technology impacting the economy, albeit on a local level, was the introduction of a mobile phone network in the Indian region of Kerela in the mid 90s. Up until that point, Kerelan fishermen would have to guess which beach market would offer the best return for their catch. Without having the latest price information, the fishermen were having to guess which markets were going to offer the best price. Inevitably this guesswork meant some beach markets were oversupplied, while others were undersupplied.

With the introduction of mobile phones, the fishermen out to sea could check with each market and get the latest and best price for their fish. The beach markets also benefited from having a steady supply of fish to meet the demand. Everyone was able to benefit from a more efficient market.

A similar platform for providing information to smallholder farmers via SMS and online was launched in 2007 in Kenya – Drum.Net. Being armed with the latest financial and market news meant the farmers were able to make informed decisions to get a better return on their produce, as well as raise their productivity yields through having access to the latest farming techniques.

Final Point

The more technology changes, the more things stay the same – because you simply cannot stay still. Disruptive technology should be reframed to so as to not point to a single revolutionary event. Rather it should demonstrate how technology combines with people and existing paradigms that spin everything into a new and interesting direction.