Julie Meyer: Tech firms could take over 'every industry'Owen Thomas
Young tech companies don't want to be taken over by their bigger rivals, they want to take over the world themselves. That's the view of Julie Meyer,the CEO of Ariadne Capital, which helps start-ups grow. She explains that one version of the future is that the technology firms will "take over every industry." She calls it the "David and Goliath effect". Recently, Facebook bought virtual reality headset Oculus Rift and Google acquired drone manufacturer Titan Aerospace.
She says: "We see entrepreneurs like Elon Musk of Tesla, Air BnB, Uber, Wonga etc, the digital disrupters. They are not hoping to become part of Facebook, they are hoping to usurp Facebook...they are hoping to transform because indeed, Facebook, LinkedIn and so forth were at one point digital disrupters who have become the new big Goliath platforms."
Julie, whose company helps tech companies such as Skype make it big, says that most of the companies she backs will become "digital cars that need a highway, they’re digital Davids that need to hop on the back of a Goliath".
She warns that what's tricky is that "David and Goliath need to dance but they don’t necessarily speak the same language" and they don’t necessarily operate at the same clock speed or have respect for each other.
But if it looks like US tech firms are taking over, this may be true for now, but investors need to be very aware of their Chinese competitors, according to Julie.
She says: "I welcome a more competitive space because I think that’s ok and we can handle the competition. And then part of me says “gosh”, I don’t speak Mandarin, I’ve been to China a handful of times it’s rather daunting."
"I think in general we have to be aware of people who seem intent on winning. The thing you can say about Chinese is they’re aggressive. They want to win."
See our exclusive interviews with Julie Meyer on Saxo TV HERE!