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These 8 Pivots by Startups Changed the World

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These 8 Pivots by Startups Changed the World

These 8 Pivots by Startups Changed the World

How do successful companies get built? Is there a predetermined formula or ideal circumstances to get off on the right foot as an entrepreneur?

When it comes to the technology world, the truth is that the most successful companies come in all shapes and sizes. Once in a while, strategy and its execution go as planned – but more often than not, a company must change its entire basis to get its best shot at winning.

In the startup world, this is called a “pivot”. It’s a risky change of direction that could end up as a game-changing success or a resolute failure. Circumstances can change fast to prompt such a desperation move. With technological progress growing at an exponential rate, in many tech-focused businesses such pivots can even be the norm.

There are many reasons a company may shake up its strategy. Maybe the customer response isn’t what was expected, or perhaps intuition suggests that a product could be used another way with a few modifications. Sometimes a mentor or friend may have a different vision on how something can be used, and other times a competitor can apply pressure to an early-stage startup by offering a similar or better product.

I know something about pivots myself, as this website (Visual Capitalist) is the result of a few of them. We first started as a marketing consultancy, and then we gambled at the idea of using infographics to supplement the press releases of microcap public companies. Neither of those really were effective, but we still loved the idea of explaining the business and investment world with rich visuals – and eventually Visual Capitalist was born.

Similarly, many other companies that we cherish would not exist without these types of strategic pivots. Twitter, Paypal, Nintendo, and many others were born under completely different circumstances than we know them today. Nintendo built vacuum cleaners and made instant rice until they thought the video game industry could be an interesting market. Nokia, which in the late 2000s was one of the biggest mobile phone makers by market share, used to have a Finnish paper mill and manufacture rubber goods in its early stages.

Today’s infographic looks at eight of the startup pivots that have changed the world.

Original graphic by: WhoisHostingThis?

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How Decentralized Finance Could Make Investing More Accessible

Under the current global financial system, billions of people do not have access to quality assets. Here’s how decentralized finance is changing that.

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Infographic: How Decentralized Finance Could Make Investing More Accessible

Did you know that a majority of the global population doesn’t have access to quality financial assets?

In advanced economies, we are lucky to have simple options to grow and protect our wealth. Banks are all over the place, markets are robust, and we can invest our money into assets like stocks or bonds at the drop of a hat.

In the United States, roughly 52% of people are invested in the stock market – but in a place like India, for example, this portion drops to a paltry 2%. How can we make it possible for people on the “outside” of the financial system to gain access?

Breaking Down Barriers

Today’s infographic comes to us from Abra, and it shows how decentralized finance could make investing a more universal phenomenon, especially for those that don’t have access to the modern financial system.

It lays out four key obstacles that prevent people in developing markets from investing in quality financial assets in the first place:

  1. The Geographic Lottery
    Where you live plays a massive role in determining your ability to build wealth. In advanced Western economies, the average person is much more likely to be invested in financial markets that can help compound wealth.
  2. Financial Literacy and Complexity
    Roughly 3.5 billion adults globally lack an understanding of basic financial concepts, which creates an impenetrable barrier to investing.
  3. Local Market Turmoil
    Even if a person is mentally prepared to invest, local market turmoil (hyperinflation, political crises, closed borders, etc.) can make it difficult to get access to stable assets.
  4. The Cost of Investing in Foreign Markets
    Foreign assets can be pricey. One share of Amazon is $1,800, which is realistically more money than many people around the world can afford.

In other words, there are billions of people globally that can’t take advantage of some of the most effective wealth-building tactics.

This is just one flaw in the current financial system, a paradigm that has created massive amounts of wealth but only for a specific and well-connected group of people.

Enter Decentralized Finance

Could decentralized finance be the alternative to open up access to financial markets?

By combining apps with blockchain technology – specifically through public blockchains such as Bitcoin or Ethereum – decentralized finance makes it possible to get around some of the barriers that are created by more traditional systems.

Here are some of the innovations that are making this possible:

Smart contracts could automate transactions and remove intermediaries, making investing cheaper, faster, and more accessible.

Fractional investing could allow partial or shared ownership of financial assets by using tokenization. This would make expensive stocks like Amazon ($1,800 per share) available to a much wider segment of the population.

Location independent investing is possible through smartphones. This would make it possible for people in remote parts of the developing world to invest, even without access to nearby financial institutions or local markets.

Like the internet with knowledge, decentralized finance could reshape the world by making financial access universal. Who’s ready?

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How Much Data is Generated Each Day?

By 2020, there will be 40x more bytes of data than there are stars in the observable universe. See how much data gets added to the mix each and every day.

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How Much Data is Generated Each Day?

View the full-size version of the infographic by clicking here

You’ve probably heard of kilobytes, megabytes, gigabytes, or even terabytes.

These data units are common everyday amounts that the average person may run into. Units this size may be big enough to quantify the amount of data sent in an email attachment, or the data stored on a hard drive, for example.

In the coming years, however, these common units will begin to seem more quaint – that’s because the entire digital universe is expected to reach 44 zettabytes by 2020.

If this number is correct, it will mean there are 40 times more bytes than there are stars in the observable universe.

A Crash Course in Data

Today’s infographic comes to us from Raconteur, and it gives us a picture of this new data reality.

Before we get to how much data is created each day – both now, and in the future – it’s worth getting acquainted with how data scales in terms of units.

AbbreviationUnitValueSize (in bytes)
bbit0 or 11/8 of a byte
Bbytes8 bits1 byte
KBkilobytes1,000 bytes1,000 bytes
MBmegabyte1,000² bytes1,000,000 bytes
GBgigabyte1,000³ bytes1,000,000,000 bytes
TBterabyte1,000⁴ bytes1,000,000,000,000 bytes
PBpetabyte1,000⁵ bytes1,000,000,000,000,000 bytes
EBexabyte1,000⁶ bytes1,000,000,000,000,000,000 bytes
ZBzettabyte1,000⁷ bytes1,000,000,000,000,000,000,000 bytes
YByottabyte1,000⁸ bytes1,000,000,000,000,000,000,000,000 bytes

There’s no doubt that data literacy will only become more important in the future, so make sure you know your zettabytes from your yottabytes!

A Day of Data

How much data is generated in a day – and what could this look like as we enter an even more data-driven future?

Here are some key daily statistics highlighted in the infographic:

  • 500 million tweets are sent
  • 294 billion emails are sent
  • 4 petabytes of data are created on Facebook
  • 4 terabytes of data are created from each connected car
  • 65 billion messages are sent on WhatsApp
  • 5 billion searches are made

By 2025, it’s estimated that 463 exabytes of data will be created each day globally – that’s the equivalent of 212,765,957 DVDs per day!

If you think the above information is fascinating, see what happens in an internet minute.

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