Building the Future of Industry
Here at Metagrove, we’re focused on helping and supporting founders use emerging technology to build innovative solutions to solve hard problems across various industries.
But what does this actually mean?
Technology is continuously changing, whether we like it or not. It’s not difficult to see how much technology has changed our lives and society in just a matter of years.
From the way we use our phones to hail a car to take you from your home to the airport (Uber - transport), order food delivery from just about any restaurant in your area (DoorDash - logistics), to booking accommodation at someone’s home (Airbnb - travel) — technology is disrupting age-old industries and digitizing them into platforms, products, and services.
What we’re seeing here is the ability of technology to provide a means to reduce friction and pain points previously encountered and make it more accessible to the masses.
But, what does this mean for our future, and how will Metagrove play a role in the world of tomorrow?
Let’s first dive into some trends.
Inevitable Trends
We’ve all heard of Moore’s Law — the observation that the number of transistors inside a processor doubles every 12-18 months in terms of processing power — well, it also rings true to other facets of technology as well.
Sensors
Sensor costs and size is becoming more important than ever before — temperature, acceleration, speed, location, and vision are just some core examples of the sensors that are now ubiquitous that without them, our lives would be thrown into the dark ages. Just think about it; your phone contains all of these sensors and then some; with location (GPS) specifically underpinning a lot of the digital economy we know of today i.e. Uber, Google Maps, Amazon, etc. Sensors are not just relegated to our phones and tablets, but we’re now seeing more sensors pop up in our homes, the cars we drive, the planes we fly in, city infrastructure, factories, and even in our power grid. Sensors will become more important as we begin to enter an autonomous world.
Connectivity
Wireless connectivity is now the defacto standard for communication. Whether it be sending & receiving messages, email, or posting your adventures on Instagram — all of this is now using wireless technologies. 4G LTE, Bluetooth, WiFi, and now the emergence of 5G is taking the world by storm. We are now seeing the impact of how this connectivity is allowing us to interact more with each other, but also with machines. This trend will only grow as we continue to witness various parts of the unconnected world, now become connected.
Processing Power
When we compare the speed of our phones or our laptops and computers to what we were using just a few years ago, you’ll immediately observe the exponential jumps we have made in pure speed and performance — it’s night and day.
Processors are now becoming so important in everything we use, we’re now witnessing the world grappling with a supply chip shortage that could last for quite a while, causing ripple effects across all industries. Society’s demand for faster, smaller, and cheaper processors will continue to grow and the world will have to make sure it can supply such demand.
The Cloud
Technology and society no longer operate in standalone mode or in a vacuum.
All of our activities now involve some interaction with the internet and within that; lies the Cloud, containing our most valuable information and data. The Cloud is our bridge to the rest of the world.
Cisco’s latest report on global internet traffic, suggests that on average, 7.7 exabytes of information pass through the internet every day in 2021, up from 2.4 exabytes in 2016, and it’s only going up. What’s one exabyte? — it’s 1 billion gigabytes (GBs)! — just take a second to just comprehend this number.
Cloud computing is accelerating and is opening up opportunities for everyone to participate and innovate, thus paving the way for companies to develop novel solutions across a variety of industries, and also support a path towards edge computing.
But, what sort of industries are we talking about?
Abstraction
Technology by itself is only a tool — it’s a means to an end. However, the real value of technology comes through when you start to utilize it for various applications.
This is where we start to see abstraction take place. Abstraction is simply another way to showcase how technology is agnostic and can be used to create innovative solutions to a variety of use cases across different sectors and industries. The diagram above exemplifies this well. You can see how the underlying core technologies (layer 1) pave the way for the above layers to build on top of them and so on.
We already mentioned players like Uber, Airbnb, DoorDash using technology to disrupt their industries. But there’s so much more opportunity and industries to be upended.
Smart manufacturing, construction, clean energy, financial services, and healthcare are just a handful of industries that are now beginning to use technology in different and interesting ways, through robotics, blockchain, automation, etc.
A Renaissance
At Metagrove, we like to describe what we’re seeing as a technology renaissance.
The emergence and innovation of technologies through AI/ML and blockchain are perfect archetype examples of what we’re excited about when it comes to reinvigorating sectors.
There is certainly a lot of work ahead for all of us, but it’s exciting to know that we’ll be right at the frontier of emerging tech as we work with companies and founders to build the future of industry together and in a sustainable and scalable way.
We’re only getting started.
Barry.
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About
Metagrove Ventures is an early-stage investment venture capital fund, focused on supporting founders and companies who are building the future of industry by creating inflection points in the market.
