Matt BrittonFounder & CEO powering AI-driven consumer insights

The one thing Steve Jobs got wrong

Name: The one thing Steve Jobs got wrong
Uploaded: 2018-09-16T01:04:05Z
Channel: Matt Britton
Description: The speaker argues that Steve Jobs was wrong to predict people would continue buying music rather than accessing it. Using the example of repeated…

16 Sept 2018

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The speaker argues that Steve Jobs was wrong to predict people would continue buying music rather than accessing it. Using the example of repeated listens to a song (Despacito) and the rise of streaming services (Spotify, Beats) — including Apple’s acquisition of Beats — the speaker generalizes this as a larger shift from ownership to access. He extends the argument to urban transportation (high costs of car ownership vs. ride-hailing like Uber) and to consumption choices where people favor experiences and tours over buying houses or cars as modern status symbols.

I would argue the one thing that Steve Jobs got wrong is he said that people would actually want to buy music and not actually access or rent it. And the fact is there's only so many times that somebody can listen to the song Despacito. Okay, so as a result you had the streaming services like Spotify and Beats which would then get acquired by Apple. People would rather access their music than buy it. Access over ownership. But that actually is not just limited to the music space and it's actually driving further interior deterioration in almost every category. The cost of cars combined with the cost of gas, tolls, parking insurance for people who live in a city make owning a car just not something that makes sense anymore. Especially with the ease and ubiquity of Uber and with all the money they're saving and not buying houses and not buying their cars, they're putting tours experiences so they can actually have that status update as a new status symbol.