Umberto Bertelè - Pensiero innovativo, strategia, pianificazione: le ricette per ricominciare a correre

BOLOGNA - Convento S. Domenico
2 ottobre 2014
INSIEME PER LA RIPRESA
Umberto Bertelè,
School of Management - Politecnico di Milano
© Umberto Bertelè 1

Creare valore disgregando
settori consolidati: il caso WhatsApp

Il caso WhatsApp (1/4)
“WhatsApp è riuscita a distruggere il
mercato degli SMS in soli 4 anni:
un’operazione che avrebbe
richiesto in altri tempi tra i 20 e i 30 anni”,
ha sostenuto uno dei principali operatori mondiali di venture capital, in
occasione della recente acquisizione di WhatsApp da parte di Facebook per
19 miliardi di dollari.
Diciannove miliardi per una start-up nata nel 2009, che è riuscita in 4 anni
- investendo pochi soldi (60 milioni di dollari) e con pochissime persone (55
in tutto), ma rinunciando quasi integralmente (dato il suo business model) ai
ricavi - a superare la soglia dei 450 milioni di utilizzatori e dei 50 miliardi
di messaggi processati al giorno: la più elevata velocità di crescita nella
storia dell’economia mondiale

Al di là dell’entità della cifra pagata, è
proprio la velocità con cui WhatsApp e le
start-up sue concorrenti stanno
disgregando un mercato ricco come quello
degli SMS, con pesantissimi danni per gli operatori telecom che lo
controllano, che merita riflessione.
Anche perché si tratta di un mercato di nascita relativamente recente,
sviluppatosi (fino all’avvento degli smartphone) con il diffondersi dei
cellulari, e anche perché i soccombenti sono in larga maggioranza grandi
imprese.
Così come merita riflessione il fatto che i nuovi entranti - WhatsApp e le
altre start-up – sottraggano alle imprese incumbent quote crescenti di
mercato, ma non subentrino a esse (se non in minima parte)
nei ricavi e nei profitti, perché offrono i servizi alternativi (quasi)
gratuitamente.

Quali sono stati gli ingredienti alla base
del fenomeno WhatsApp? Se ne possono
evidenziare almeno cinque:
• la possibilità nata con gli smartphone di un accesso in mobilità a Internet
e quindi di un convogliamento alternativo dei messaggi;
• la possibilità passando attraverso Internet di aggirare la politica di
discriminazione dei prezzi in funzione degli utilizzi applicata dagli
operatori telecom: quale ad esempio l’inclusione nei messaggi stessi di
foto;
• la disponibilità crescente di banda larga (broadband), per i suoi riflessi
sulla qualità dei servizi fatti transitare attraverso Internet;
• la disponibilità di una infrastruttura sempre più consistente di cloud
computing;
• il costo estremamente contenuto per la creazione e la diffusione di una
app di così grande successo.

La crescita di WhatsApp attraverso la
disgregazione di un settore ricco come
quello degli SMS è un caso esemplare di
big-bang disruption……
……cioè il fenomeno, dilagante nell’economia, di sparizione di interi
settori o comunque di stravolgimento delle loro logiche competitive
per l’entrata in gioco di business model completamente (quale quello di
WhatsApp) o parzialmente alternativi, resi possibili dalla più recente
ondata di innovazioni tecnologiche e di investimenti infrastrutturali
nell’ICT.

INDICE
DISRUPTION LEGATA A FUNZIONALITA’
DISPOSITIVI
• OROLOGI
• MACCHINE FOTOGRAFICHE COMPATTE
• NAVIGATORI PORTATILI
PRODOTTI NATIVAMENTE DIGITALI O
DIVENUTI TALI
• GIOCHI ELETTRONICI
• MUSICA E FILM: STREAMING vs
DOWNLOAD
• CONVERGENZA CINEMA-TV
CONVIVENZA FORMATI
• GIORNALI
• LIBRI
E-COMMERCE
• PRODOTTI DIGITALI E NON DIGITALI
• EFFETTO SHOWROOMING
• DIFFICOLTA’ RETAIL TRADIZIONALE
CRESCE LA SHARING ECONOMY
• DISPONIBILITA’ vs POSSESSO
• SERVIZIO vs PRODOTTO
• AIRBNB, UBER, CAR SHARING ..
FINTECH: LA DISRUPTION MINACCIA IL
SISTEMA BANCARIO-FINANZIARIO
• PAGAMENTI
• TRASFERIMENTI DI VALUTA
• GESTIONE RISPARMIO
NON SOLO DISRUPTION
• SANITA’
• FORMAZIONE: MOOCs
• ...
AUTO
IoT-INTERNET DELLE COSE, ROBOTS,
TECNICHE ADDITIVE 3D

• PAGAMENTI
NON SOLO DISRUPTION
• SANITA’
• ...
AUTO
DISPOSITIVI
• OROLOGI
DIVENUTI TALI
DOWNLOAD
CONVIVENZA FORMATI
• GIORNALI
• LIBRI
E-COMMERCE
INDICE

L’orologio non serve più per leggere l’ora

Aug. 28, 2014
Samsung, LG to Compete Head On With New Smartwatches
A standalone phone for your wrist is finally coming. It will
support 3G wireless networks and will be able to make
and receive calls without having to be tethered to a
smartphone.
Sept. 3, 2014
Sony Rolls Out Two Wearable Devices
Electronics Maker Unveils
Wristband,New Version of Smartwatch
Apple Watch to Allow Mobile Payments
Smartwatch to Have Tap-to-Pay Features, Curved Screen; Not Expected to
Ship This Year
Sept. 4, 2014

Swatch Switches Gears on Smartwatches as Apple Looms
Its Stock Falling, Swatch Adds 'Smart' Features to Watches
Swatch Group is starting to
get worried about
smartwatches. Over the past
12 months, Swatch shares
have fallen nearly 11%, more
than rivals Richemont and
LVMH.
For years Swatch has
dismissed Internet-enabled
watches as novelties that
won't disrupt business at the
world's biggest watchmaker.
Aug. 25, 2014
The company said it is introducing fitness functions, a key feature of smartwatches,
to its Touch line of digital watches.

Si acquistano sempre meno macchine
fotografiche digitali compatte

Cameras Succumb to Smartphone Juggernaut
There was a time when it would have been
crazy to suggest that a phone camera would
ever approach the speed and quality of a
stand-alone camera. Now, that day is over.
Sales of point-and-shoot cameras have been
declining for years .. Taking a picture with a
phone simply isn't a subpar experience. For
most people, most of the time, a phone is all
you need.
NOV. 10, 2013
What the phone did to the camera isn't an isolated incident. The story
behind the death of the stand-alone camera is a history of the future of
almost everything.

AUG. 12, 2013
Smartphones Expose Camera Makers' Shortcomings
Sales of Mass-Market Models Plummet, and High-End Hopes Look Misplaced
(1/2)
Smartphones are killing off the
once-core business of compact
digital cameras. Worse still,
hopes that sales of high-end
models would make up the
shortfall now look misplaced.
Sales of compact cameras are
already tumbling fast at Canon
and Nikon, which together sold
44% of all cameras globally last
year.

AUG. 12, 2013
Smartphones Expose Camera Makers' Shortcomings
Sales of Mass-Market Models Plummet, and High-End Hopes Look Misplaced
(2/2)
... At Canon sales of compact
cameras in the quarter ended June
30 were down 26% from a year
earlier. At Nikon sales were down
30%.
That wasn't a surprise given
smartphone cameras are essentially
making compact cameras seem
increasingly obsolete…

Gli smartphone rottamano
i navigatori portatili

• PAGAMENTI
NON SOLO DISRUPTION
• SANITA’
• ...
AUTO
DISPOSITIVI
• OROLOGI
DIVENUTI TALI
DOWNLOAD
CONVIVENZA FORMATI
• GIORNALI
• LIBRI
E-COMMERCE
INDICE

Gli smartphone e i tablet rubano
spazio alle console per videogame

20
JAN 20, 2014
Nintendo’s declining sales put change of game plan on
cards
Nintendo announced that it had cut its net
profit forecast of Y55bn ($527m) in the
year to March to a net loss of Y25bn, as
sales of its Wii U games console and 3DS
handheld unit fell well short of global
targets ..
The core problem is that the world’s largest games machine maker has
been hurt by the big shift to mobile devices. Casual gamers are abandoning
specialised hardware in favour of playing on phones and tablet computers,
on which titles can be downloaded at a fraction of the cost ..

21
DEC 3, 2013
Apps market: From chat to finance, soon your gadget
will run your life
(1/2)
Apps have become the core feature
of every smartphone. Work or
leisure, finance or fitness, apps are
available for anything you could
dream up – and probably some you
could not.
Mobile app stores recorded 64bn
downloads last year .. Revenues
are forecast to soar to $26bn this
year, from $18bn in 2012.

22
DEC 3, 2013
Apps market: From chat to finance, soon your gadget
will run your life
(2/2)
And it is not just smartphones. The
increasing popularity of tablets has
opened up even more possibilities
for app designers .. Practical tools
such as Google Maps and social
media such as Facebook are some of
the most widely used apps,
but games dominate the market ..
“About 70 to 80 per cent of revenues
on Google Play and iTunes come
from games” ..

August 17, 2014
Smartphone owners’ appetite for new apps wanes
The average number of apps downloaded on a monthly basis has decreased
considerably in 2014. As smartphones saturate mobile markets in the US
and Europe, developers must rely on customers continuing to download
new apps for their businesses to grow.
August 19, 2014
Apps: Growing pains
Once a thriving cottage industry, bigger players are now dominant and
profits are squeezed
23

Musica, film e televisione

NOV. 12, 2013
Film in streaming a pagamento: Lo «store» Google arriva anche in
Italia
Si arricchisce il mercato del cinema on line a pagamento . Sul play disponibili pellicole a noleggio e in
abbonamento Un nuovo contendente cerca di portare in
Italia lo streaming legale di film: si chiama
Google ed è pronto a dare battaglia ai
numerosi concorrenti. Da oggi infatti anche in
Italia sarà possibile noleggiare o acquistare
film da Google Play, il negozio online del
colosso delle ricerche già noto per la vendita
di applicazioni, giochi, musica e libri.
Google sbarca in un mercato affollatissimo dove i servizi abbondano:
ITUNES (Apple); CHILI TV (cui partecipa anche il «Corriere» con il Cinema Store); CUBO
VISION (Telecom Italia); MYMOVIESWIDE!; VODDLER (arrivato in Italia a maggio); XBOX
VIDEO (Microsoft); PLAYSTATION 3 (Videostore di Sony).
Entro fine anno arriveranno anche le piattaforme di Mediaset e Sky.

DEC 11 2013
YouTube ad revenue surges to $5.6bn
Advertisers will spend a
projected $5.6bn on YouTube in
2013, an increase of more than
50 per cent on the previous
year, according to a report.
The sharp rise, which follows
an explosion of viewing on
mobile devices, comes as
advertisers strive to
reach younger consumers who
have drifted away from
television ..

27
JAN 3, 2014
Streaming services take toll on digital music sales
Long considered the music industry’s best prospect for growth, US digital
music sales declined in 2013 for the first time since the launch of Apple’s
iTunes store in 2003… US digital single track sales dropped 6 per cent in
2013 to 1.26bn units from 1.34bn in 2012...
Total digital album sales were about flat year
on year, with 118m units sold.
The sales decline comes amid the fast growth
of streaming music services, such as Spotify,
Deezer and Rdio. .. The total number of audio
and video streams surged 24 per cent to 50m
streams during the first half of 2013
compared with the same period the year
before ..

Jun 14th 2014
Second wind
Some traditional businesses are thriving in
an age of disruptive innovation
Even staid businesses such as law firms and universities are
threatened by technology-cum-globalisation.
But look at the air more closely and you can see some
strange objects floating around:
- Swiss watches
- Montblanc fountain pens
- Harris Tweed jackets
- old-fashioned sailing boats.
Management gurus may tell people to bow down before the great god of
disruptive innovation.
But some companies are cheerfully doing the opposite - preserving or
resuscitating traditional technologies and business models.

• PAGAMENTI
NON SOLO DISRUPTION
• SANITA’
• ...
AUTO
DISPOSITIVI
• OROLOGI
DIVENUTI TALI
DOWNLOAD
CONVIVENZA FORMATI
• GIORNALI
• LIBRI
E-COMMERCE
INDICE

Sono sempre più in crisi i giornali
e ci sono sempre meno edicole

NOV. 5, 2013
Rcs, il Cda dà il via libera alla vendita della sede di
Corriere e Gazzetta
Il Consiglio di amministrazione di Rcs ha
approvato «a maggioranza» la vendita per 120
milioni al fondo americano Blackstone del
complesso immobiliare di via Solferino e via San
Marco a Milano, che oggi ospita le redazioni del
Corriere della Sera e della Gazzetta dello Sport
...
… All'ultima rinegoziazione del debito, conclusa contestualmente agli accordi di
garanzia per l'aumento di capitale da 400 milioni completato a fine luglio, era stata
inclusa tra le garanzie per le banche anche un'ipoteca sull'immobile di via San
Marco e Solferino.

OCT. 29, 2013
Loss Expected to Widen for New York
Times Company
Amazon.com founder and chief executive Jeffrey P. Bezos formally took over as the
owner of The Washington Post on Tuesday, officially ending 80 years of local control
of the newspaper by the Graham family. Bezos’s $250 million purchase ...
Bezos has the deep pockets to sustain an enterprise that has been buffeted for
years by declining readership and advertising, especially in the printed Post ...
OCT. 10, 2013

L’Editoria: I giornali
Due business model tradizionali per il giornale “cartaceo”:
• la formula mista “lettori + pubblicità”, con il passaggio per le edicole o la
distribuzione diretta (prevalentemente per abbonamento)
• la formula “free press”, solo pubblicità, con la distribuzione diretta gratuita nei
punti di grande passaggio.
Che cosa succede con l’avvento di Internet?
• cresce la disponibilità di notizie gratuite su web, che comincia ad assorbire
fatturato pubblicitario;
• inizia la vendita online dei giornali, con effetti abbastanza limitati;
• iniziano a scendere, anche per effetto della crisi, sia le vendite cartacee sia la
pubblicità sui giornali;
• inizia un lento processo di riorganizzazione dei giornali, diverso a seconda dei
paesi, con una progressiva fusione fra le redazioni cartacea e online

L’Editoria: I giornali
Che cosa succede con l’avvento di smartphone + tablet + app +
cloud+ banda larga?
• cresce molto, soprattutto con il tablet, la vendita online: limitata però ai
giornali più importanti e non tale da bilanciare le perdite nelle copie cartacee (se
non forse per giornali specializzati come FT e WSJ);
• il prelievo sulla vendita (che avviene attraverso app) è forte: il 30 per cento nel
caso di Apple;
• cresce il contenzioso con gli OTT per la sottrazione illecita di news, con un
paradosso: senza il passaggio attraverso gli OTT un giornale “non esiste”;
• calano drasticamente le vendite del “cartaceo” e cala drasticamente la
pubblicità, facendo entrare in crisi anche giornali come il NYT;
• “mai così tanti lettori come adesso (Ferruccio De Bortoli)”, ma mai così pochi
soldi;
• violente ristrutturazioni, come quella recente di RCS;
• chiusura di moltissime edicole (un terzo delle esistenti a Milano), che vedono
esaurirsi la loro funzione.

Sono sempre più in difficoltà le
librerie e crescono i conflitti con gli
editori tradizionali

Barnes & Noble, the Last Big Bookseller Standing: But for How Long?
(1/2)
JAN 16, 2013
.. Despite a heavy investment in the Nook business,
Barnes & Noble is expected to have a three-year
cumulative loss of more than $700 million
On January 3, Barnes & Noble said its holiday sales for
the nine-week period ending December 29 were $1.2
billion, down 10.9% from a year ago. .. Nook product
sales fell 12.6% from a year ago.
Barnes & Noble isn’t alone. Many traditional retailers are struggling against
online powerhouse Amazon.com: Best Buy, Target, ..
Bricks-and-mortar retailers are battling a phenomenon called “the showrooming
effect“: the consumer practice of checking out a product in a retail store and then
buying it online at a better price. ..

Barnes & Noble, the Last Big Bookseller Standing: But for How Long?
(2/2)
JAN 16, 2013
… Despite the bankruptcy of chief competitor Borders in
2011, Barnes & Noble has struggled to increase sales. It
has actively moved to address consumers’ rapid shift
from print to digital books and to combat Amazon’s
expanding Kindle business. However, Barnes & Noble’s
Nook now faces a growing number of competitors ..
The challenge for Barnes & Noble is that it lacks a strong digital content
ecosystem relative to Amazon, Apple and Google. Both Apple and Amazon, for
example, have invested heavily in video content and digital music distribution.
Barnes & Noble historically has focused solely on books.
“Barnes & Noble is the last bookstore chain standing,” says Wharton
management professor Steve Kobrin, “There’s still a niche there, but it may go to
small independent bookstores.”

Barnes & Noble to separate retail, Nook Media
June 25, 2014
Barnes & Noble hopes to survive by
splitting in two.
The largest U.S. brick-and-mortar
bookseller, beset by tough competition
from online retailers like Amazon and
discount stores like Wal-Mart, plans to
split off its Nook e-reader division as it
looks to boost shareholder value.
Investors applauded the news, sending
shares up more than 6 percent in midday
trading.

Bertelsmann Getting Out of Book Retailing
Publisher to Close Stores, Book Clubs in German-
Speaking Markets
June 29, 2014

Amazon Aims at Publisher Hachette's CEO in
Contract Dispute
Calls on Authors to Email CEO, Pressure Him to Agree
to Terms
Aug. 9, 2014

LE NUOVE “BIBLIOTECHE POPOLARI”
Jul 16, 2014
Amazon Tests ‘Kindle Unlimited,’ A Netflix For
Ebooks And Audiobooks
Amazon might give readers something to
get really excited about: A digital ebook
and audiobook subscription service that
provides Kindle users with all the content
they can consume from a potential
library of over 600,000 titles for just
$9.99 per month.
This ‘Netflix for ebooks’ would compete
with existing services including those
from startup Oyster.

• PAGAMENTI
NON SOLO DISRUPTION
• SANITA’
• ...
AUTO
DISPOSITIVI
• OROLOGI
DIVENUTI TALI
DOWNLOAD
CONVIVENZA FORMATI
• GIORNALI
• LIBRI
E-COMMERCE
INDICE

Anche le catene retail
tradizionali soffrono la concorrenza
dell’e-commerce

NOV. 11, 2013
Staples: trouble in store
Retailer faces a double whammy akin
to the book industry
Another rough day for bricks and
mortar retail. Staples, the US office-supplies
chain, said that it would close
up to 225 stores in North America
over the next two years.
That is about 12 per cent of the 1,846 it had at the end of 2013. Also this week,
RadioShack, the troubled electronics retailer, said that it was shutting up to 1,100
stores (about a fifth of its total.) Technology in general and Amazon in particular
are transforming the way people buy stuff. All retailers are trying to work out how
to transform themselves in order to survive.

NOV. 11, 2013
Target Fills Its Cart With Some of Amazon's Tricks
(1/2)
Target has come up with an answer to Amazon.com. Copy it.
The discount chain's latest online offerings have a distinct
Amazon feel - from recurring deliveries for diapers to on-demand
streaming video and free shipping and discounts for
its members. All emulate similar offers from the e-commerce
company.
Target says Amazon is just one of many competitors and
it isn't mimicking anyone. Still, the moves highlight an
important fact of doing business at Target: the
customer who visits the discounter's giant stores and
the customer who orders online from Amazon are
increasingly the same person.

NOV. 11, 2013
Target Fills Its Cart With Some of Amazon's Tricks
(2/2)
The deep overlap poses a significant threat to a
company that despite the cultural moves and heavy
investment continues to struggle with e-commerce,
even as customers shift more and more of their
shopping online.
Target's Internet sales are less than 2% of its $73
billion in total sales last year. By comparison,
Amazon's North America sales rose 30% last year to
$35 billion, most of it in categories of goods that
Target also sells.

August 14, 2014
Big fashion names fund shopping app
Retailer faces a double whammy akin
to the book industry
Some of the fashion world’s biggest names are backing a
fledgling New York ecommerce platform that aims to use
the familiarity of social media hallmarks to make shopping
easier on a mobile phone.
Lew Frankfort .. and Groupe Arnault, the fund controlled by LVMH’s Bernard Arnault, have all
invested in a recent $7.5m funding round for Spring, a mobile app that launches in the US.
Spring is a direct-sales marketplace targeting young, twenty-something female
professionals that combines the visual aesthetic of photo-sharing app Instagram with the
compulsive swipe function of dating app Tinder and the “favouriting” and “following”
components of Twitter.
Spring provides the software and technological infrastructure, while the fashion companies
handle inventory and shipping via their existing ecommerce operations.

NOV. 11, 2013
China e-commerce love affair breaks records on Single’s Day
Monday in China was Single’s Day, a day that e-commerce companies have turned
into the world’s biggest day for online shopping by offering a steady stream of
promotions and deep discounts.
By 1:04pm on Monday, sales on Alibaba, the nation’s largest e-commerce group,
reached $3.1bn. At midnight, this figure had almost doubled to $5.7bn.
Last year, revenue from online sales in China was between $190bn-$210bn, a close
second to the US market, worth $220bn-$230bn, and China’s market is growing
much faster. © Umberto Bertelè 48

September 5, 2014
Alibaba to raise up to $21.1bn in IPO
Alibaba is seeking to raise up to $21.1bn
on the New York Stock Exchange in what
will be one of the largest IPO on record,
with a price range of $60 to $66. At the top
of the range this would value the company
at about $160bn.
At $16bn, Facebook’s listing in 2012 is the
largest technology or internet-related IPO.
Alibaba is China’s largest ecommerce platform, controlling as much as 80 per cent
of the market, with nearly $300bn worth of goods sold on its marketplaces last
year (more than comparable figures for Amazon.com and eBay combined).
Alibaba has been facing competition from other Chinese Internet companies,
including Tencent, as they all work to lure China's 500 million smartphone users.

INDICE
DISPOSITIVI
• OROLOGI
DIVENUTI TALI
DOWNLOAD
CONVIVENZA FORMATI
• GIORNALI
• LIBRI
E-COMMERCE
• PAGAMENTI
NON SOLO DISRUPTION
• SANITA’
• ...
AUTO

March 20, 2014
Airbnb Is in Advanced Talks to Raise Funds at a
$10 Billion Valuation
The rich price tag reflects Airbnb's potential to
disrupt the hotel industry. In six years, the company
has become a required destination for millions of
tourists looking for cheap rooms, while giving
homeowners a new source of income.
The company could be worth more than Wyndham
Worldwide, which manages 7,500 hotels under the
Wyndham, Ramada and other brands, and is
valued at $9.3 billion. Hyatt Hotels has a market
value of $8.4 billion.

Jul 8, 2014
Catalonia Fines Airbnb,
Threatens to Block Locals From
Using Site
Jun 18, 2014
China’s Answer to Airbnb,
Tujia.com, Raises $100M

June 13, 2014
Taxi protests drive growth of cab-hailing apps
Protests by thousands of taxi drivers in Europe this week, bringing traffic chaos to
the streets of London, Paris, Milan and Berlin, had at least one positive side-effect
for the company that was the target of their anger.

Aug. 11, 2014
Tech's Fiercest Rivalry: Uber vs. Lyft
The Two Heavily Financed Upstarts Also Aim to
Supplant the Taxi Industry
Forget Apple vs. Google. The fiercest
battle in the tech capital may well be
between two heavily financed upstarts
plotting the demise of the taxi industry
- and each other.
Uber and Lyft are undercutting each
other's prices, poaching drivers and co-opting
innovations, increasingly
blurring the lines between the two
services.

September 2, 2014
Uber hit with nationwide ban in Germany
Uber is facing its biggest legal challenge so far after its most popular service was banned
throughout Germany, marking the first time the disruptive taxi app has been hit with a
countrywide restriction. The temporary injunction imposed by Frankfurt’s Regional Court
prohibits the fast-growing company from operating its Uber Pop “ride-sharing” service.
Uber said it would continue to operate in defiance
of the injunction, but it faces fines of up to
€250,000 ($328,000) per trip if it is caught violating
the ban, which does not affect its higher-priced
"Black" limousine service.
Ride-sharing companies allow anybody who
passes a background check to act as an ad-hoc taxi
driver after being hailed by a smartphone app.
Critics say the model poses safety risks and skirts regulations that licensed taxi drivers must
adhere to, while Uber and other start-ups say it increases consumer choice and creates
jobs. Amid escalating regulatory challenges and battles with taxi operators around the
world, Uber last month hired David Plouffe, election campaign manager to Barack Obama,
to lead its strategic and policy response.

INDICE
DISPOSITIVI
• OROLOGI
DIVENUTI TALI
DOWNLOAD
CONVIVENZA FORMATI
• GIORNALI
• LIBRI
E-COMMERCE
• PAGAMENTI
NON SOLO DISRUPTION
• SANITA’
• ...
AUTO

April 10, 2014
Silicon Valley start-ups vie to make online credit work
(1/2)
Lending working capital to small businesses hardly sounds like the sexy end
of the digital industry. But something of a race is on between a band of
internet start-ups – many with big-name backers [i.e. Google, David
Bonderman (co-founder of private equity firm TPG), Vikram Pandit and Tom
Glocer (former CEOs respectively of Citigroup and Thomson Reuters)] - that
see this as one of the best avenues to breaking into the financial services
world.
58
Manually collecting and analysing the information needed to understand
whether a business can remain solvent is a costly activity. That usually
makes it uneconomic to lend the small amounts of cash that small
businesses need. Automating this process promises to change the
economics.

April 10, 2014
Silicon Valley start-ups vie to make online credit work
(2/2)
The ability to pull in accounting data automatically from a borrower’s own
books has been made easier by the fact that much of that information now
resides in cloud services. Most lenders also draw on other pools of data –
from government census surveys to user reviews on online sites such as Yelp
– to build their risk models and gather a full picture of a business’s
prospects. Crunching the data with algorithms, rather than human analysts,
has further reduced overheads.
59

60
FT - August 27, 2014
Lending Club seeks to raise more than $500m in IPO
Lending Club moved ahead with plans for an IPO that will test investor demand
for peer-to-peer lenders.
The San Francisco-based company, founded in 2007, is likely to seek a valuation of
about $5bn and hopes to raise more than $500m.
The company runs an online marketplace for connecting borrowers and lenders. It
has facilitated more than $5bn in loans, including over $1bn in the second quarter
of 2014.
Unlike a bank, Lending Club does not assume credit risk or use its own capital to
invest in loans. Investors have been lured by high-yielding loans in the platform
during a period of historically low interest rates.

61
April 13, 2014
London’s ‘fintech’ start-ups aim high
…growth of new technology start-ups in
London that are threatening to shake up
financial services in the UK and beyond.
..
Innovation in the consumer-facing
“fintech” sector is happening in money
transfer, asset management, mobile
payments and crowdfunding.
..
As the global centre of financial services and a tech hub, London gives
fintech entrepreneurs access to an unparalleled pool of talent, from
developers to product managers to compliance officers to sales.

62
April 13, 2014
Facebook targets financial services
Facebook is readying to provide financial
services in the form of remittances and
electronic money.
The social network is only weeks away
from obtaining regulatory approval in
Ireland for a service that would allow its
users to store money on Facebook and use
it to pay and exchange money with
others.

APRIL 13, 2014
Real-Estate Crowdfunding Finds Its
Footing
Sites Offer Small Shares in Commercial Properties

Explosive growth pushes Alibaba online fund up global
rankings
(1/2)
March 10, 2014
A Chinese internet money market fund that
launched just nine months ago has more
investors than the country’s equity markets.
The total number of investors in Yu’e Bao,
an online fund launched by ecommerce
giant Alibaba Group in June last year,
topped 81m, compared with about 77m
active equity trading accounts in the whole
country.

Explosive growth pushes Alibaba online fund up global
rankings
(2/2)
March 10, 2014
The number jumped from 49m as of
January 15 to 81m by February 26.
The explosive growth has propelled Yu’e
Bao, which means “leftover treasure”, up
the global rankings of the biggest money
market funds. It had accumulated at least
Rmb500bn ($81bn) in deposits by the
second week of March, making it the fourth
largest money-market fund in the world.

Useremo sempre più lo smartphone
anche per pagare?

Useremo sempre più lo smartphone
anche per pagare?
Le prospettive di disruption non risparmiano nemmeno il mondo
bancario-finanziario. Vi sono elevate probabilità che una quota crescente
di pagamenti - per gli acquisti nei negozi e nelle grandi catene - passi nel
prossimo futuro attraverso lo smartphone.
I business model in gara per un mercato potenzialmente molto ricco sono
molteplici e di diversa natura sono gli attori economici che li propongono:
• da una parte gli operatori telecom (in alleanza con le banche), che
vogliono sfruttare le tecnologie NFC (presto disponibili su larga parte
degli smartphone) per raccogliere direttamente gli ordini di pagamento
ed essere leader di filiera;
• dall’altra le grandi di Internet, quali Google e eBay con PayPal, che
propongono sistemi che dirottino su Internet gli ordini, per essere esse
stesse a intercettarli e ad attivare filiere (almeno in parte) diverse.

Sept. 4, 2014
Apple Watch to Allow Mobile Payments
Smartwatch to Have Tap-to-Pay Features, Curved Screen; Not Expected to
Ship This Year
Apple plans to include short-range wireless
technology in its coming smartwatch,
signaling that it sees a role for the device in
digital payments.
The gadget's use of near-field communication, or NFC, reflects Apple's broader
ambitions for the so-called iWatch beyond health and fitness tracking.
Apple also is expected to add the wireless technology to the next versions of its
iPhone.
NFC wireless is central to Apple's plans to offer so-called tap-to-pay into its
mobile devices, allowing users to pay for goods and services using credit cards
stored with iTunes.

FT - March 24, 2014
Indian start-ups tap into mobile payments technology
A handful of Indian start-ups, aided by a growing
number of global investors, are hoping to roll out types
of mobile technology first popularised by Silicon Valley
start-up Square.
Square and its rivals, including eBay’s PayPal unit, make credit card readers that
plug into smartphones for use by small scale merchants from artisans to babysitters
who often avoid the hassle of accepting cards.
Leading Indian start-ups such as Ezetap and Mswipe might not have Square’s
heady valuation – which was put at about $5bn in January – but their technology
works in much the same way, while targeting the more basic phones that remain
common in India and other emerging markets.
International enthusiasm for the sector was underlined last week when American
Express took a minority stake in Bangalore-based Ezetap.

August 15, 2014
Banks Vie for a Piece of Africa's Mobile
Banking Market
Where Most Have a Phone and Few Have Bank Accounts,
Telecom Operators Dominate Fast-Growing Business
In Kenya, where telecom companies dominate the
mobile-payments market, one of the country's largest
banks is fighting to retake some of its traditional turf.
M-Pesa - owned by Safaricom, the Kenyan subsidiary of
global telecom giant Vodafone - is Kenya's most popular
mobile-payments service.
M-Pesa, launched in 2007, handles $18 billion in
transactions annually. They come from cow herders in
the country's dusty Rift Valley villages, pedicab drivers in
the bustling port of Mombasa and technology
entrepreneurs in traffic-clogged Nairobi. Together, they
are equivalent to 43% of Kenya's economic output.

OCT. 15, 2013
The Money Is in the Email
Square Cash Lets Users Email Funds to Friends
While you can buy a $500 iPad at Amazon.com with a single
click, sending even small amounts of cash to a friend or relative is
still often a tedious and slow task. In most cases, you wind up
doing exactly what you would have in 1957 - writing a check and
mailing it. The recipient then has to cash it or deposit it in her
bank account.
But starting Tuesday, you can just email cash, free of charge, directly from your debit card to
anyone else's, regardless of what bank each party uses. There's no login or password to
remember and no special software or hardware required - you just use email. It works on
both ends using any email service or program on any email-capable device, whether a
computer, a smartphone or a tablet.
This new service, called Square Cash, comes from Square, best known for equipping small
brick-and-mortar merchants with smartphone-swiping devices that allow them to accept
credit cards, and with tablets that act as sophisticated cash registers.

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Nuovi business model per la sanità
e per la formazione?

NOV. 8, 2013
Digital innovation for social change
(1/2)
From finding lost children in China, to
sharing experiences of illness, to using
‘unsmart’ phones to fight corruption
100 groundbreaking applications of digital
technology
At Nominet Trust, one of the UK’s leading funders of social technology ventures,
we wanted to find out how these digital technologies could help solve big social
challenges. We believe such efforts, if implemented effectively, can make a
tangible difference to people’s lives, especially in the developing world where
there are severe shortages of doctors and teachers, hospitals and schools, and
traditional models of providing essential services do not work.

NOV. 8, 2013
Digital innovation for social change
(2/2)
Medicall Home
A drab office block in a busy inner suburb of Mexico City is the epicentre of one of the most
revolutionary approaches to primary healthcare anywhere in the world. A team of 20
paramedics, dressed in starched white coats, sit in cubicles waiting to answer phones. The
medics are supported by computer systems loaded with protocols pooled from some of the
best hospitals in the world to help them diagnose conditions.
This little call-centre is the heart of Medicall Home, created by a telemarketing
entrepreneur, Pedro Yrigoyen, which provides a bare-bones primary healthcare service for
about five million Mexicans for just $5 a month, paid through their mobile phone bill.
Two-thirds of the issues raised by callers are resolved over the phone .. If Medicall Home
recommends that the patient goes to a doctor or has a blood test then it connects them to
one of its network of 6,000 accredited doctors or 3,000 healthcare providers, in 233 cities,
where they can claim discounts of anything between 5 per cent and 50 per cent.

76
JAN 10, 2014
Digital healthcare opportunities for tech start-ups
The sick, the old and the stressed are the unlikely new target market for a
growing corner of the technology industry, which is salivating over
the opportunities offered by healthcare reform in the US.
From start-ups to large health insurance providers, the digital health
industry exhibits at this week’s CES expanded by 40 per cent this year as
companies showed off products promising to save money by keeping
patients at home ..
The US Affordable Care Act puts pressure on providers to prove they are
delivering the most cost-effective care. For the technology industry, this
means encouraging more remote care and preventive monitoring to
eliminate unnecessary doctors’ visits and hospital stays ..

July 15, 2014
Google and Novartis to develop ‘smart’ contact lens
for diabetics
FT - July 18, 2014
Technology: Wear your medicine
New wearable digital devices could signal a radical shift in medical
practice
Sept. 5, 2014
Apple's Next Big Focus: Your Health
Tech Giant Expected to Unveil Smartwatch With Sensors to Monitor
Vital Signs, Fitness
77

JUNE. 29, 2013
Catching on at last
New technology is poised to disrupt
America’s schools, and then the world’s

OCT. 31, 2013
Short e-courses
Move over, MOOCs
Massive open online courses, or MOOCs, offered by universities have the
potential to shake up education.

23 Giugno 2014
La “nuova” Università dopo secoli di storia
La rivoluzione digitale bussa anche alle porte degli
atenei, mettendo in discussione modalità di
insegnamento rimaste sostanzialmente
immutate dal Medioevo.
Con le università telematiche e i Massive Open
Online Courses, che raccolgono un numero
crescente di studenti, si aprono nuovi scenari per
la formazione ma anche per la ricerca, in cui
l’integrazione fra il modello tradizionale e quello
a distanza appare inevitabile
Stefano Paleari,
Presidente della
Conferenza dei
Rettori delle
Università Italiane

August 28, 2014
Thou shalt be disrupted: welcome to the silicon
church
Think of them as God’s back-office.
Technology start-ups have spied an
opportunity in helping Christian clergy
manage their organisations – from using
apps to harvest data about their
parishioners, to administering assets such
as cemeteries and church organs.
81
California-based Kaleo Apps offers a host of smartphone features to churches,
including Facebook-like “prayer walls” and a service that lets churchgoers donate
via SMS. The company says its tools have increased giving by up to 40 per cent.

82
Aug 08
Digital disruption in the world’s oldest profession
The cover feature of this week’s
Economist explores how new technology is
shaking up the world’s oldest profession.
The Economist Intelligence Unit has crunched data
on prostitutes’ prices, services and personal
characteristics gleaned from an [anonymous]
international website which hosts 190,000 profiles
of female sex workers operating from 84 cities in
12 countries.

Le app cambiano la competizione fra le
pizzerie, i ristoranti e i saloni di bellezza…..

Feb. 6, 2014
Big Pizza Chains Use Web Ordering To Slice Out Bigger Market
Share (1/2)
Many Mom-and-Pop Shops Lack Resources to Compete Online
The rise of online ordering is putting corner
pizzerias in new peril.
Big chains have invested in sophisticated Web-based
systems that let customers order and pay
for deliveries quickly without having to call. That's
giving them a new edge in the battle for an ever-bigger
slice of the industry pie over smaller chains
and independent pizza shops that lack the capital
or technological know-how to compete on the
Web.

Feb. 6, 2014
Big Pizza Chains Use Web Ordering To Slice Out Bigger Market
Share (2/2)
Many Mom-and-Pop Shops Lack Resources to Compete Online
Domino's Pizza Inc., Papa John's
International and Yum Brands's Pizza
Hut all now derive 40% or more of
their sales from digital orders. For
Geraci's Restaurant in University
Heights, Ohio, the number is zero.
Frannie Geraci says her sales have declined 20% in the past two years as chain pizza
shops and other franchises have moved into the neighborhood. She estimates she
could boost sales by 30% if she offered delivery and online ordering, but she says she
can't afford the cost.

OCT. 24, 2013
How Mobile Technology Is Changing the Way We Dine Out
Touch screens are becoming as integral to the restaurant experience as knives
and forks
Pick a Restaurant: Yelp; Urbanspoon; Foursquare
Make a Booking: OpenTable; WaitAway; BuzzTable; NoWait
Order In: GrubHub and Seamless (have a network of more than
25,000 restaurants all over the U.S., spread across more than 500
cities and 350 college campuses, with an average of 130,000
orders processed a day); Eat24
Pay Your Bill (with mobile-payment apps, you can now pay your
dinner bill and calculate tip, all from your smartphone): Tabbedout;
Cover; OpenTable
Find a Happy Hour: DrinkOwl; Happy Hour Finder
Follow Your Diet: HealthyOut (makes it easy to stick to your diet without getting stuck in your
house); Find Me Gluten Free
Share Your Meal: Foodspotting (is the ultimate social-media app for the food-bsessed);
Tastemade

NOV. 1, 2013
Apps for Pampering on Demand
iPhone and Android apps for scheduling last-minute massages, skincare
treatments and salon services
Massage Therapy: Zeel. After entering a few preferences - type of
massage (Swedish or deep-tissue are offered), treatment length
(60 or 90 minutes), male or female practitioner - the app will
dispatch a massage therapist to your doorstep in as little as in hour
in most cases.
Skin Care: ZocDoc. Select the type of specialist you'd like to see
(dermatologist, chiropractor or acupuncturist, for example), your
location and your health-insurance provider. The app will present a
list of insurance-approved practitioners and their next available
appointment time.
Salon Services: Vagaro. This app lets you book last-minute salon
appointments at more than 7,000 participating establishments
across the country. Prices are displayed clearly, making it possible
to find the best deal on a pedicure in your area.

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Anche l’auto diventa connessa…

Sep 6th 2014
The future of cars
Wireless wheels
Connected cars will make driving safer, cleaner and more
efficient. Their introduction should be speeded up

Sept. 5, 2014
GM to Offer Technology to Help Avoid Vehicle-to-
General Motors plans to install vehicle-to-vehicle communications systems on
some products in two years, part of a broad push by regulators and auto makers
to introduce technology that can prevent collisions without human intervention.
Cars that use radar sensors and cameras to detect other cars or objects and
warn drivers are increasingly common. Vehicle-to-vehicle communications
technology could go a step further, and warn drivers of potential collisions with
cars they or their bumper-mounted cameras and radars can't see.
The U.S. Department of Transportation last month said it is considering
adopting a rule by 2016 requiring such vehicle-to-vehicle communications
systems in the future.
Vehicle Crashes
Auto Maker Could Have First Wireless System Available in Some Models by
2016

September 4, 2014
German companies struggle to rise to Silicon
Valley challenge
(1/2)
As its high-tech machinery and automobiles -
the foundation of German success - become
increasingly mediated by software and
communication technologies, the worry is that
the IT deficit could become Germany’s Achilles
heel.
Factory automation equipment is set to become
more deeply networked. Cars are already highly
sophisticated mobile computers and they are
becoming increasingly autonomous and
connected. If German businesses do not build the
so-called “internet of things”, others will.
92
Smart car: the latest Mercedes-Benz
S-Class can drive itself in slow-moving
traffic, pointing to the wider impact
of tech advances

September 4, 2014
German companies struggle to rise to Silicon
Valley challenge
(2/2)
German companies do not need reminding of
the danger posed to incumbent hardware
makers by paradigm shifts in technology.
Siemens was once a major player in
telecommunications, for example, but
Google is threatening to steal a march on
overlooked the rise of internet-based
the German carmaker by developing an
telephony and was eventually obliged to exit
operating system for self-driving cars
the business altogether.
Now, Google is building an operating system for self-driving cars and has made a
succession of acquisitions in robotics and home energy management.
Although its exact intentions remain unclear, Google’s algorithms seem set to disrupt
the status quo in automobiles, automation and electrification – all areas where
Germany traditionally excels.
93

March 1st 2014
Electric Cars
Fully charged (1/2)
Tesla’s electric car is a resounding success. The Model
S last year outsold its nearest luxury rival, Mercedes’s
petrol-engined S-class, by 30% in America.
As a battery-maker Tesla is also moving fast. This week
it announced plans to build a “gigafactory” in America
to make lithium-ion power-packs, that it hopes will
propel its vehicles to the mainstream.

March 1st 2014
Electric Cars
Fully charged (2/2)
Launched a decade ago by Elon Musk, a founder of PayPal
and serial tech entrepreneur, last year it sold around
22,000 cars and by the end of 2014 hopes to be making
1,000 a week.
Tesla’s impressive growth has not yet translated into
significant profits. Nevertheless, Tesla’s shares surged on
February 25th, to value the company at over $30 billion
(GM is worth only twice as much).
Morgan Stanley reckons that the battery factory will also
make it a leading competitor in low-cost energy storage,
the key to making renewable energy more practical. The
bank is also confident that Tesla’s Silicon Valley location
will put it in the driverless front seat of autonomous
motoring.

JUN. 24, 2014
Michigan Is Building A Fake City Just To Test Driverless Cars
Testing automated vehicles is a risky
process, which is why Michigan’s
Department of Transportation and the
University of Michigan have joined
forces to create a 30-acre urban
environment that will be used
specifically for testing driverless cars.
It will occupy 30 acres at Michigan University’s North Campus Research Complex,
where the Mobility Transformation Facility (MTF) will simulate the broad range of
complexities vehicles encounter in urban and suburban environments.
This will include approximately three lane-miles of roads, complete with
intersections, traffic signs and signals, sidewalks, benches, simulated buildings,
street lights, and obstacles such as construction barriers.

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La nuova frontiera dell’Internet of things
98

99
Internet of Everything(s)
The Internet of Everything builds on the foundation of the
Internet of Things by adding network intelligence and security
that allows convergence, orchestration, and visibility across
previously disparate systems

FT - June 6, 2014
Robots: rise of the machines
As you invest in the future, you are betting on your own demise
Neelie Kroes, vice-president of the European
Commission, warned robot makers they would
have to address public fears that their
creations would terminate millions of jobs.
One study estimates that 47 per cent of US
jobs are at risk from smarter, harder-working
robots.
Last year the number of industrial robots sold globally hit a record high at 179,000,
up from just over 80,000 a decade ago. Some 95,000 professional service robots,
valued at about $17.1bn, are expected to be installed between 2013 and 2015, and
the global market for automated labour is forecast to hit close to $82bn by 2020.
China, trying to cope with rising labour costs and rapidly growing demand, is
installing robots at a record pace.

FT - June 24, 2014
3D printing: a powerful technology, but no panacea
Corporate leaders are continually warned that additive manufacturing (more
commonly known as 3D printing) will cataclysmically disrupt virtually all businesses
on the planet.
Futuristic visions encompass everything from custom 3D-printed cars to human
organs available on demand for transplants.
The reality, however, is rather different. Companies are using additive
manufacturing (AM) today to complement established methods such as injection
moulding and casting. And AM is not likely to replace these methods in the near
future for several reasons.

January 2014
3D printing
(1/2)
The economics of 3-D printing are improving rapidly. While still only a
sliver of value in the manufacturing sector (0.02 percent), sales of 3-
D printers are set to double, to $4 billion, by 2015, and prices for the
equipment are declining swiftly. Also, 3-D printers open up the
possibility of more distributed production networks and radical
customization.
In early manufacturing applications, some companies are using the
devices to accelerate product development, since they eliminate wait
times for prototyping by faraway specialists.

January 2014
3D printing
(2/2)
Companies will be able to consider new supply-chain models and, in
some cases, replace traditional suppliers of parts with targeted usage
of in-house printers.
These printers won’t replace traditional high-volume modes of
production, such as die casting and stamping.
For more specialized goods, though, it’s easy to imagine the
emergence of service businesses - the equivalent of copy or print
shops - that would manufacture items based on design specifications
provided by B2B or B2C customers. Crowdsourcing networks for new-product
ideas could one day complement traditional R&D activities
for some manufacturers.

Vi è però una parte dell’ICT che non
festeggia

FT - March 6, 2014
Spare a thought for Silicon Valley’s rust belt(1/2)
More cost-cutting to come at suppliers of corporate technology
Shrinking revenues. Stagnant share prices in
the midst of a stock market boom.
Doubts that some will ever see significant
growth again.
While younger companies riding the social
media, cloud and mobile waves are all the
rage on Wall Street, large parts of the tech
industry are in a funk.
Companies missing out on the stock market party include some of the biggest
suppliers of corporate technology, including IBM, Cisco, Hewlett-Packard and
Oracle. Microsoft and Intel have also been left behind by the rise of mobile.

FT - March 6, 2014
Spare a thought for Silicon Valley’s rust belt(2/2)
More cost-cutting to come at suppliers of corporate technology
In the four years to 2010, their combined
revenues grew 30 per cent despite a blow to
demand from the 2008 financial crisis. The
following four years, by contrast, are expected
to show growth of only 9 per cent.
Most have at least managed to maintain a
good earnings record, thanks to cost-cutting
and share buybacks.
As the Financial Times reported last year, some creative accounting to hide
supposedly “one off” costs has also helped to lift profits.

JAN 14, 2014
The effect of today’s technology on tomorrow’s jobs will
be immense - and no country is ready for it
(1/4)
107
Innovation has always cost people their jobs .. For those who believe that
technological progress has made the world better, such churn is a natural
part of rising prosperity.
Although innovation kills some jobs, it creates new and better ones .. but for
workers the dislocating effects of technology may make themselves
evident faster than its benefits. Even if new jobs and wonderful products
emerge, in the short term income gaps will widen, causing huge social
dislocation and perhaps even changing politics ..

JAN 14, 2014
(2/4)
108
Over the past three decades, labour’s share of output has shrunk globally
from 64% to 59%. Meanwhile, the share of income going to the top 1% in
America has risen from around 9% in the 1970s to 22% today ..
Worse, it seems likely that this wave of technological disruption to the job
market has only just started .. The public sector is one obvious target: it has
proved singularly resistant to tech-driven reinvention. But the step change in
what computers can do will have a powerful effect on middle-class jobs in
the private sector too ..

JAN 14, 2014
(3/4)
The digital revolution is transforming the process of innovation itself ... The
number of digital startups has exploded .. It takes years for new industries
to grow, whereas the disruption a startup causes to incumbents is felt
sooner.
109
Airbnb may turn homeowners with spare rooms into entrepreneurs, but it
poses a direct threat to the lower end of the hotel business - a massive
employer .. If this analysis is halfway correct, the social effects will be
huge .. Innovation has brought great benefits to humanity….

JAN 14, 2014
(4/4)
110
But the benefits of technological
progress are unevenly distributed,
especially in the early stages of
each new wave, and it is up to
governments to spread them.
In the 19th century it took the threat
of revolution to bring about
progressive reforms. Today’s
governments would do well to start
making the changes needed before
their people get angry.

112
JAN 23, 2014
Davos 2014: Google's Schmidt warning on jobs
Google chairman, Eric Schmidt, has
warned the jobs problem will be "the
defining one" for the next two-three
decades .. He said given the constant
development of new technology, more
and more middle class workers
would lose their jobs ..
Mr Schmidt compared the situation to the industrial revolution .. He pointed
out that .. more jobs were created by small companies and therefore
entrepreneurs needed more support.

LE OPPORTUNITÀ PER IL “SISTEMA ITALIA”

Umberto Bertelè - Pensiero innovativo, strategia, pianificazione: le ricette per ricominciare a correre

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