Gurley says Yellow Pages took eighty years to peak but fell by half in less than six years.
“So in a six it took eighty years for it to reach that pinnacle and in less than six, it's more than fallen in half.”
Gurley states local advertising peaked at over one hundred billion dollars around 2006.
“So local advertising measured by a bunch of different groups peaked at about the same time at over 100,000,000,000.”
Gurley explains Innovator's Dilemma: disruptive products succeed by targeting customers who reject incumbent complexity.
“Products that are able to be disruptive get over designed. They get over feature rich, they get complex, they get heavy.”
Gurley argues private companies now have more capital than incumbents for the first time in history.
“And for the first time in history, I believe private companies are the ones with more money and are attacking the long held incumbents, which is a radical thing to think about.”
Gurley warns people who chose safe jobs without loving them are sitting ducks for AI technology.
“I think you're those are the people, oddly enough, that are kinda sitting ducks for this new technology that's coming along.”
Gurley says Facebook went public at forty dollars and traded down to eighteen before fixing their mobile products.
“They went public at 40 and the stock traded down to 18. And that kinda woke them up, and Mark, like, got the company motivated and and got their mobile products way better.”