The 20th Annual Genesys Partners Venture Dinner — Genesys XX– Tuesday night at the Union League Club in New York included nearly 100 invited venture capitalists, investors, journalists, entrepreneurs, and industry executives. As always, Jim Kollegger — CEO of Genesys Partners and one of the pioneers of the information industry — was an elegant master of ceremonies. The Software & Information Industry Association (SIIA) presented the Peter Jackson Innovation Award to Jim for the innovation and leadership roles he has played in the content industry.
Following his template of at least the last five years, Jim introduced the various sponsors, next day panelists for the SIIA Conference, several startup CEO’s, and a few of us who speak each years. Following is a synopsis of what I had to say.
Like a broken record, I offered the normal upbeat view of the future of the Internet but prefaced my remarks by asserting that we are only 10-15% of the way there. In other words, of all the things that could be done on the Internet that would save us time and make our lives better, only 10-15% of them are there. It may sound low, but consider retail e-commerce. Although there has been continuous double-digit growth of retail e-commerce for eighteen years, it still represents just 5.5% of total retail (as of the end of October).
I made a side reflection about the fact that while the total United States retail e-commerce for 2013 will come in at somewhere around $250 billion, one company — Amazon — amassed nearly $70 billion in revenue during the past year. Why isn’t retail e-commerce 25% instead of 5%? Much is written about that here at patrickWeb and in my book, Net Attitude, but the short version is that there are still a lot of lame web sites. “Click here for the location of our nearest dealer where you can visit” or “call to buy the product you just found” or “Click here to download this form and fax it to us”. How about healthcare? How is it fairing in terms of exploiting the Internet? Oh, if only it could be 5% of the way there! Don’t you love the ubiquitous clipboards at doctor offices where we take a pen and provide a lot of information information that they already have? In the years ahead, I am hopeful that healthcare delivery will operate more like Amazon.
I then offered my view of the status of the Internet and health care. This is one man’s view of the evolution of the Internet including the seven characteristics I discuss every year. The things going on under each characteristic continuously change and Jim asks me once a year to do a thumbnail sketch of my latest thinking.
If you are interested in the healthcare comments, you may want to take a look at the posting from last year’s dinner. See Genesys events. You can find me at