Well, Walmart vs. Amazon is all about big business – a platform giant (Amazon) disrupting an OldBigCo (Walmart and its kin). Over the past two decades, Amazon bumped Walmart out of the race to a trillion-dollar market cap, and the OldCo from Bentonville had to reset and play the role of the upstart. The Token Act levels the playing field, forcing both to win where it really matters: In service to the customer.
Seven or so years ago, a famous VC penned a manifesto of sorts. Writing at a time the world was still skeptical of the dominance to which his industry has now ascended (to think, such a time existed, and so few years ago!), Marc Andreessen had a message for the doubters, the naysayers, and the Wall St. analysts who were (credibly!) claiming that his investments amounted to not much more than a bubble:
I spent today at the first-ever Boing Boing Ingenuity, a two-day hackathon cum “vaudeville show” – truly Boing Boing brought to life. It made me so proud to see the essence of conversational marketing at work – a major brand adding deep value to a community, an independent publisher realizing its dream of celebrating its voice and community through a unique event that built up online over many months.
Here’s the Twitter stream. It was really great. And the main insight I took away was this: Brands will soon have no choice but to become data (because we are all becoming data, after all). A car creates tons of data every mile it is driven, for example. Faced with this fact, how might a car brand respond? It could see that data as its private asset, put up fences around it, and make that data really difficult for the driver (and society at large) to access. Or, it could act like Ford did, and tack in the direction of openness.
Ford has created a platform called OpenXC that opens APIs into 50 or so data streams coming out of your car. On the first day of Ingenuity, teams of makers, hackers, and regular folks came up with amazing ideas that leveraged Ford’s innovative platform. For example, one team built an app that senses when a pet or child is in your car, then monitors the car’s internal temperature. If it gets too hot, this app can lower the windows, turn on the AC, and text the car’s owner. I mean, how cool is that?!