The Future Doesn't Fit In The Containers Of The Past: Rishad Tobaccowala, Sr Advisor Publicis Groupe

thank you, this will be a presentation without slides, without any video, without anything, so if you want to fall asleep, you can, it's just me, humming and moaning, okay, but everything I say, you will be able to access those two addresses, so if you go to my website and add a backslash 100, there will be a section called

future

, so everything I'm going to talk about is in that section called

future

. All of those pieces are from a free-thinking letter. I write every Sunday, it's read by about 30,000 executives and it's, believe it, completely free, it

doesn

't even have ads or anything, and that's on Rashad.substack.com.

If you want to hear me interview people about the future, including everyone. types of people from all over the world, again there is a free podcast or whatever platform called the following and they can check it out and my book has basically been mentioned so there it is. I have a very simple Twitter handle as long as Twitter remains in business which is in Rashad and since I believe Google will remain in business, my email is simply my name at gmail.com, all of which are early indicators that I am one He was an early adopter, so maybe he knew something about the future, so with that being said, why should we care about the future?

It is a very simple question and we have enough challenges today. We are tormented by our past. We have all kinds of things. So why repress it and worry about the future? The only reason we want to care. the future is because we're going to spend the rest of our lives there and that includes tomorrow because tomorrow is the future so as long as you're alive you're going to spend the rest of your life in the future so that's nice. It would make sense to worry about the future, so that's one of the reasons, but you are all successful businessmen, successful entrepreneurs, successful at everything and one of the words that you will use often is a word called strategy, almost all business executives they often say. strategic strategy strategist and very few say tactical execution or things like that now it turns out that I was the chief strategist of what today is an organization of a hundred thousand people and I was terrified that someone would come to me and ask me what are you the head of Well , so your chief strategist, so what is that?

Can you describe what the word strategy means? Then I will ask you what the word strategy means. So I decided before someone asked me a question and I gave them a stupid answer. I'd go ask smart people for good answers and then I'd like any good person to copy those answers and say that's the right thing to do, so I sent out an SOS Bat-Signal to colleagues at consulting firms like Bain and McKinsey and BCG to corporate strategists. I met that from university professors who taught strategy and they all gave me answers and I got the equivalent of about 50 pages of answers and then I decided that that was too much because if I gave an answer that would force me to talk for an hour to Answer what is a strategy , you would say that you clearly don't know what strategy is, so I went to the Other End and after reading all that I decided that possibly the best strategist in the world was actually a gentleman, uh, and as you know, you are. in Canada you may know him, call him William Shakespeare, so for those of you who don't know he was a playwright and poet who died a long time ago, 500 years ago, but he had a line in Julius Caesar called go with the flow when Serve or prepare to lose your companies, which I decided was the best definition of strategy, so strategy is three words, future competitive advantage, that's it, three words, future competitive advantage, what does that mean?

What will your market look like in the future quickly? What will your potential clients be like? Guest members, whatever you call them, are seen and needed in the future, is the number one who you will compete with in the future and against those future needs and those future competitors, what advantage will you give them, that's simple, what is the other which is why you should worry. about the future because if you are not thinking about the future you are not doing strategy. I don't know what people are doing, but if it's not about future competitive advantage, it's not strategy, it's totally foreign, okay, and most companies when they do strategy, they don't think about it that way and they end up in trouble. because they end up being rare and I'll show you some examples of companies that didn't really think about it this way and they got into trouble, so they could say good future competitive advantage very very good now now what crystal ball exists that allows me to tell the future and Rashad if you knew so much about the future did you know that for three years we would wear masks?

Did you know that he is crazy? guy would start a ground war in Europe did you know that the Cubs would actually win a World Series of baseball and the answer to all those questions is no, but go back to Shakespeare, go with the flow when it serves or prepare to lose your Endeavors, which is very The trends are clear, so basically what I was saying is for the man or woman to make the trend their friend, so if you align with the trend, your chance of being successful is much higher than if you don't align with the trend, a mediocre person aligns with the trend. the trend will beat a very smart person who does not align with a trend, someone who has no sales experience could sell word processors and someone with world class global experience could not sell typewriters when the era of digital technology arrived , successful businesses that move early in a trend not so early that they burn out, but in an early trend are likely to be much more successful than companies that stay in what they are currently doing and those Trends are very, very clear and there are four of them and these are four Trends I suggest that every business, every company and even every individual align their sales with this.

Surely they are right. I bet everything that this will happen and that they are broad enough that they are not as specific as who will want to win the world. Series or things like that, but they are wide enough that I feel quite comfortable because they are not too narrow, so what are they for? I'll give you what those four are and then describe in more detail how to think about them. them, the first is globalization, the second is demographic changes, surprising demographic changes, the third is a new era of technology that is coming and the last is how work will be reinvented, so those are four that I have very clear and You'll learn more about those details, obviously I'm going to talk about it, but if you want notes, go to Richard tobacca.com backslash 100 and read the future and you'll get more information, but I'm going to describe it. but if you want it, okay, let's start with globalization.

The good news is that you are in Canada and not in the United States, but even in Canada, North America, Europe. If you read The Economist in the financial times in the Wall Street Journal, everyone is trashing. "The head and the hair out too and basically saying this is the end of globalization and what are some of the things that come with it. The rise of nationalism in China, all kinds of things and all I'm saying is, are you kidding? All that's happened is us." We have moved from a world where we had unipolar globalization, a globalization dominated by the Western world, primarily Western Europe and North America, and we are replacing it with multipolar globalization.

In fact, the world is becoming more global because it is not centralized in one region due to the loss between 1990 and today. 2.5 billion people have been lifted out of poverty due to globalization. The entire Western world, which is North America minus Mexico and all of Europe, has 800 billion people this week. The world population amounts to 8 billion people. Let's do the math pretty simple, ten percent of the world, ninety percent of the world, so ten percent is going to define what globalization means, no, we basically have a global World Order built in 1945. The country I grew up in is about to have a larger population than China right now has the fastest growing economy in the world.

It is the largest user of Google, Facebook, LinkedIn, has more engineers than anywhere else in the world and does not have a seat on the Security Council, but small countries like Britain and France do. ...but we live in 2022. we don't live in 1945. That's why globalization is going to happen because if you think about it, demographics cause the rest of the world to increase, currently the basic belief is that the world population will peak in 10 billion 8 to 10 billion almost all of that growth is happening in one place Africa, that's not anywhere else, so globalization is happening, however, it's multipolar globalization and even someone like the United States , unlike China or rather unlike Canada, so Canada is actually pro. -immigration, the United States has decided to commit suicide and become anti-immigration.

If the United States is really going to compete with China, it can't do it without immigration, it simply can't because of the second big change, which is demographic changes. the population of the Western world and of China, Korea and Japan, so everything except India and Africa, has begun to decline. The United States grew by one million people last year, which is the smallest growth ever recorded. 17 million people in the last 10 years, the smallest. growth, it takes 2.1 children to replace and keep the population the same that number in California is 1.7 that number in Korea is 1.3 that number in Japan is 1.4 that number in Germany is 1.5 the population of world is in decline accepting Africa and India and in India it will peak faster than most people think so that's the first part.

Every business plan has been based on population growth. What happens when that

doesn

't happen? GDP growth is productivity plus population growth. What happens when that doesn't happen? and it's not happening, one of the reasons China is behaving the way it is is that, according to current projections, we are already past China's peak. China's population, according to current projections, will decrease by 50 people in the next 50 years due to the one-child policy that can't be fixed now, they have said: "Okay, forget about one child, two children, you have three children, no one doesn't have children, it's too expensive, so what you basically have is a country whose population is declining, in Korea, they are closing schools, there is no one to whom." We go to schools but no one talks about it now, what if it wasn't enough of a challenge? the entire world is aging by 2050 one in six people in the world would be over 65 in five years one in three people in China will be over 65 in the United States within 10 years one in four people will be over 65 years the decline of population flattening and population aging is a fact and these things don't change suddenly Suddenly you can't change it, it's a trend you can see, so 8 billion 800 million tells you something .

The declining population, the aging population, tells you something. Basically, I would make sure my business is global. I would make sure my business understood that yes, while Gen Z. and Millennials are extremely important for a variety of reasons, the majority of the wealth in countries like the United States and Canada, 75 percent is in the hands of people over 50 years old and most of them will live productively and happily until they are 85 years old. We have learned how to change our behavior as Kovitz demonstrated and therefore a fixation on youth as the next market may not actually be very good.

That's not where the money is, the money is with seniors and seniors because of good advances in healthcare. cancer isn't dying at 65 and handing it over to Millennials isn't going to happen, so that's fact number two, number three, the trend a little thing called technology now technology has been around for a long time, fire, beef and all kind of thing, so I'm going to forget all that and basically fast forward to 1993. So 1993 is when we entered the first connected era of technology and that's when Tim Berners-Lee and his son made the World Wide available. Web. for everyone, free license, that's when this started.

It turns out that I took marketers to things like America online and things like that, and I realize that there was online and darpanet and all that before, but the first connected era started in 1993. and between 1993. and 2007 We live in the first connected era, while humans did two things, we connected to discover and we reconnected to transact in our businesses. We call that search and e-commerce in North America, the dominant companies are called Google and Amazon in 2007. We built on those first connected agents we entered the second connected era and in the second connected era we had three new ways of connecting now we were connected with everyoneconnected all the time and connected to distraction all human connections we call that mobile social and streaming also known as Apple meta and Netflix and if we go back about six or eight months from today, those are the five most valuable companies of the Western world, they are not technology companies, they basically give human beings divine power because human beings like it. to connect and these are the companies that made the connection frictionless, what we weren't seeing and which is what I now go into boardrooms around the world and say and because I actually told people about the first and second era connected now in my stunted and aging State when I am wheeled into a conference room besides saying, "Okay, he's an unemployed and hungry author," why should we listen to him?

I will say that I don't know a long time ago, I said something and I'm about to say something. more and what I'm about to say may sound very strange and strange and it's not exactly what the headlines say, but giveListen to me, pat me on the head, give me some food and I'll give them an ear, so I'll give it to you. Okay, we've entered connected seniors, three four, five years ago. I'm not sure because I'm not exactly sure, but there are four forms of connection that are happening now, so remember that the first one had two, the second one had three, and by the way, they are all alive, none of them have died, but the new ones They are coming and you know how.

Dramatic society, business and news and everything changed because of that, the first two, so now imagine the third, so in the third year of connections, data connects to data, which is the flavor of AI that really works very well is called machine learning. and a simple way to think about it is the following statistics, one in every three dollars of Amazon revenue is made from their store, by which I don't mean all of Amazon's revenue because the majority of their revenue and profits come from Amazon web services, etc. but you know, on amazon.com, one out of every three dollars that Amazon receives is after you've made the payment, so you have to buy something that you verify, a third of their sales are after you've made the payment and you could say : what's that? it's all because they serve people who bought this, they bought this, that happened to you and you click on that's machine learning 75 percent of the time the next show you're going to watch on Netflix is ​​what they offer, they They know better than you what you'll like is true and that's machine learning machine learning is doubling its capabilities every six months three times faster than Moore's Law if you want to see it in action I'll give you two ways you can see it in action if you have A Google home device would just say OK Google, be my Spanish translator or, in this particular case, it would say Ok Google, be my French translator and start talking.

He is very good French. One of our daughters speaks Spanish fluently, so I said, "Okay, you speak Spanish." she see if this is good and you speak Spanish fluently and you speak English fluently. I don't know any Spanish but I know English, so come on, it's really good, unless you're like President XI who needs that kind of translator. you don't have to worry about your kids learning Mandarin, they can speak in English and just say Ok Google, so obviously there's no OK Google to say OK Baidu I guess, and they have some sort of response, that's how fast the process is moving . here's another one, this is free, go to a place called open AI and basically get a free license, it's free, you get 50 views, 50 queries a month for free and then the rest is really cheap and you could basically say: I would like that. to see a kangaroo sitting in a car driving through Paris with a Renaissance sunset in the back, in a matter of seconds you will have those images.

Look at something called Runway ml, it allows you to create videos at the highest level almost for free and the CEO of that. the company basically says that their vision is between the idea and the reality, there should be no friction runwayml.com try it, open your eyes, try it if you are a writer, go to sudo type pseudo rights pseudo right and start writing and and this is free, There are no final paragraphs, now imagine that doubling every six months is interesting, right? So that's the first one, the second one is much faster ways to connect, which is 5G. 5G is not like what 4G was with 3G. 5G does two things: it is exponentially faster and it is much more robust and resilient, so there is no signal loss.

As a result, it's most likely going to be like Chicago because of the nature of what I do and we get to do a lot of things around the world. backup systems, so I have two Internet providers, so I have Comcast and I have Google Fiber and Comcast. I have the fastest speed I can get, which is 800 megabytes at this hotel. I haven't checked, but it's probably 50 megabytes, so 16 times faster than this. hotel and for good streaming you need about 25 megabytes so that's 800 megabytes and then I have a Google Fiber wired ether line that is one gigabyte and I have it on two separate computers set up in two different places so regardless from which board call I have to fly anywhere.

I can't say my technology didn't work because then they say it's stupid so I have to have a backup plan when I go to the Verizon store it has to be just at the Verizon store in downtown Chicago using their phone using their transponder. I'm getting speeds of four gigabytes, but the average speed is going to be about two gigabytes, which basically means you'll be able to download a high-definition movie on your phone in six seconds, but that's not what's really cool is that it basically means that the entire The computing power and not just the storage in the future will be in the cloud, which means that right now I have the iPhone 14 pro Max, the most expensive device, here somewhere. terabyte or two terabytes are still big in the future why everything can be in the cloud and I can just talk and that will come in two or three years, so 5G much faster connections data to data connection machine learning to new types of voice connection in the country of India, where I grew up, more people searched through voice than through fingers, all the big voice engineers from Google and Microsoft are in India because India has 22 different languages ​​and many people are illiterate, so what we will talk about soon is augmented reality and augmented virtual reality. faster reality slower virtual reality but they all come and then the last one and you might start laughing at this but I'm going to mention this and explain to you why what you're seeing is not what you think you're seeing it's in a world where all trust has been broken there is one thing I do trust and that is that I have forgotten it a long time ago, but I still remember some of the horrible things.

I have an advanced degree in mathematics, you can trust in mathematics and Mathematics. is what blockchain is, so you could say, okay, listen clown. FDX crashed, cryptocurrency prices have collapsed. What's the matter? Many things, but it's not that FDX has had nothing to do with blockchain. Most of this crypto stuff has nothing to do with blockchain. This is for It is real, but it is very complicated and takes time to understand. Easy to use was a few years away, but blockchain is one of the most advanced technologies of all time and it's coming and right now people are mixing the signal with the noise when the.com crash happened in 2001.

I I was running an interactive agency. My agency did not lose a single client. We didn't have to have a single layoff and the reason was for two reasons, one is that I refused to accept clients from.com because I didn't understand their business model and the second is that I went to all the existing clients and told them that this is what they are seeing and this is what they should look at. What they were looking at was QQQ, the price of the NASDAQ index that went from 5000 to 1100. So they were looking at that and I said, well, that's there and I still haven't figured out what exactly it is for cryptocurrencies, not for cryptocurrencies but for blockchain. , but in that case I discovered what I had to show them and I said, "okay." I'm looking at this, but let me show you this line that goes up like this, which is the broadband penetration in the United States, so the number of people who signed up with broadband, so I said the Internet is real, this is what It's not that it pays.

Pay attention to this, most of us pay attention to the noise that is the financial markets and not the signal. I'm not saying that the financial markets aren't a very good indicator, but the financial markets are such a good indicator that they are always right half the time. at the right time and they are completely wrong half the time and to a large extent blockchain is also coming so you take those four and you have completely new types of businesses so the four things really are data connecting data which is machines. learning much faster connections that are 5G, new ways to connect that is voice augmented virtual reality and a new trusted connection that is blockchain and that will create a kind of future of the Internet for this section and the best way to think about the future of technology I have in the section called the future I have a little thing called the future of the Internet, everyone should read it is about 1800 words and at the end there is a link to a presentation that is the only presentation I have.

I have been writing for the last five years. I've written a presentation for the last five years and I didn't know how to go into a boardroom and talk about the future of the Internet without showing them something, so I had to put a platform. together, which is very difficult for me, but I did it and that deck is available to everyone. It's the same deck that I take to a McDonald's or a general motor, so they're all free, unlicensed, completely free and you'll understand why, because that's part of where. web world 3 is up and running so that's there and then there's a piece that I call Omniverse omnipresence that shows you everything that's going on, you know, open up AI Unreal Engine and you can see videos that you can experience and those two are my education for any. whoever wants and I suggest you do it because it's like 40 minutes and it could basically save you a lot of pain and it's there okay which is very simple so that's a little bit about that so now what I'd like to move on to is the last of these four changes globalization demographic changes technology and I go to the last one and the last one is very, very real and we have all lived it and we are living it, what the hell is happening the office is fine, what is it is happening, it's very difficult to get a lot of people back into the office and most companies are at the highest levels they've ever had people back into the office today. but in almost every company that number is 40 to 50 percent, it's not 80 to 90 percent, it's 40 to 50 percent, and then there's this whole issue of people being lazy, you know what? are they doing, what the hell is going on and some other things? people say they know this recession will show them who those people are, you have to show it and my basic belief is that if you want people to come back to the office and you need a recession to do it, it's basically like cutting off your head when you have a headache. head is not the way it's going to work when I wrote my book my book came out before I coveted chapter 2 of the book called it basically talks about how to manage distributed workspaces because it was very clear to me that in 2019 we were working with technology from 2008 and 2009 and in 2020, how come we were suddenly able to work?

By the way, most businesses, after an initial setback and obviously different industries, travel restaurants were hit much harder, but many businesses saw greater profits and growth with everyone sitting at home. So one day you had 100 of the employees at home, six months later, 100 employees were working, I mean, 100 in the office, 100 from home and the business continued as normal for two and a half years, so how can anyone come back to you and tell you the office? It's critical for the future people will say what are you talking about and then you'll basically say well, you know, if you come to the office you do these things that are so important like, I'll say what well, you know. you can learn better, okay, better at brainstorming, brand that it's networking, brand, better relationship building, have you heard those ticks?, okay, now go back to 2019 and for each of those things, when you needed to do those things, you left the office and went to events like this. to let work and learn you went to a bar basically to meet people in restaurants you went to experiences you went to everything but the office you went to outside creative places so the exact reason you want everyone to come back to the office is exactly what you left the office for 2019 which is fine I mean what nonsense and by the way if that was the only challenge it would be fine but the staffing of this office is one of the eight challenges we are about to see in the next fiveyears.

I am a firm believer in in-person interaction. I have come here even this year. I've done 75 flights and there are huge benefits, but if you're good, you'll get people back to the office. Try telling them that if you don't come back to the office I'm going to fire you and if you don't come back to the office without these things, we can't happen, people will look at you and say like what are you talking about coming back to the office? What I do believe is that the wrong answer but the wrong question is that we are solving for four years.

What we want to solve there and I'll give you some other challenges to come, so there's a piece that's one of my sections in that fortune on that hundred backslash from Richard tobacco.com it's called the future of work and one piece there is call back to the office question mark, so you're us for every organization and no It doesn't matter what your organization is, as long as it's not a dentist's office or some other places where you basically have to be there, it's kind of as a dentist in one place and knows my teeth in another place, but knows about something else.

I know you have to think about it differently and obviously there are a lot of blue collar workers and you know things are different, but I'm not talking about the 50 white collar professionals. Industry number one is everything you want to talk to your company and your talent about is how we move forward into 2022 and 2023 and you don't start by saying, let's go back to 2019. The moment you say go back to 2019, you're basically thinking about 2019 when you were using the technology of 2009. 2019, you don't want to go back to 2019. You want to go backwards, so the first mentalityAre we talking about advancement number one, number two?

There are some significant benefits to disaggregated distributed work. Why don't I call it remote and hybrid? You will understand why, first of all, remote basically makes you feel that if you are not in the office you are an isolated and lonely person. I stopped working at Publicis even though I was a consultant and I sat at home and I can assure you that I did not feel alone and I didn't feel isolated because I'm not in the office doesn't mean I don't have friends, I can't talk to anyone, so the idea basically is that we have to say that there are amazing big benefits to separating distributed work.

It's everything since you can hire more diverse talent. People can take care of their children. you can take care of their parents you can reduce your costs you can get all kinds of talents from everywhere there are great benefits why wouldn't you benefit from them once you start with those two then you can talk about the third but for the In this way, ladies and gentlemen , there are a lot of benefits to in-person interaction, which is true and it varies by industry, it varies by age, it varies by a lot of things, but if you're young, one of the ways you learn and the ones you train, you go to the field of training, you see things, you see things, you have mentoring, you have all the guys, all that is important, so you say "hey, by the way, we are moving forward, these things are important, but these things are also important." and as a result, let's find a way to create a win-win situation and in the win-win situation you don't just have the office, you have four places and then you build your portfolio with foreplay stuff that you can't beat. you don't have bonuses or cash, you have four things, here is the equivalent, you have the office for most people, the office is what I call the museum, okay, it's where you basically have the pictures of the founders, your awards , large conference rooms, indoctrination centers, etc., it's a museum and Then people like us nebulous old people like to move around like old curators, you know, mumbling about how it used to be.

Okay, excellent, fantastic, thank you very much. Okay, I'm 63, so I'm clearly over the hill, but that's where we roll. okay, perfect, that's important, it's more of a client throwing indoctrination, there's a real company here, that's fantastic. Secondly, we have the house we used to work at home all the time anyway, even before, so we have the house. Third, a lot of companies are basically starting to think about being okay between office and home, maybe we can make some modifications where people meet close to their place so they don't have to travel. Another third place are restaurants, bars and Starbucks. and who else knows and the last one I experienced and events like this or cans or CES or taking people to Las Vegas so wherever people go well with those four you can create amazing amazing combinations of those two where you have flexibility and you have... interaction between people depending on your industry depending on who you're talking to that could be in 20 days of 20 days at work it could be two days of 20 days at work I don't know, I don't have the answer every The company has to come up with something different because it is its culture, its philosophy, its competitiveness, its industry, but simply saying: let's go back to the office in 2019, if you don't come, I will shoot you, you are not going to do it. solve anything, so that's one, but now let's think about the following things, they work and they will open up enough for questions, so I wrote this book and as a man, I haven't given birth to a baby, but I have seen my wife. she gave birth to baby two when she had her first baby and I, most women say this, I will never have one of these again, okay, at least for the first 15 to 20 minutes and throughout the process, because it's very painful so it's like I'll never do it again so after I finished my first book I said I'll never do it again okay I'll never do it again and then somewhere in a hallucination I sold my second book and four days ago I started writing it and he basically said I don't know what the hell I'm doing, why I did this, but anyway I sold it to McGraw-Hill and my second book is called rethinking work, okay and in he's going to lay out what I think are the real struggles that we're all going to have and the opportunities that we're going to have basically, in addition to this, we're basically going to have to answer the next five questions, number one is why do we work for many people?

They work to earn income to feed themselves. the table that is very, very important when I stopped working, quote unquote, I read every book I could about retirement and discovered that people, even if they had enough money saved, were not very happy in retirement quote unquote, in fact , if they retired completely, they really died. fast too and that's because we work for five reasons of which income turned out to be one of which we also work because of identity because my wife basically said what are you going to say when people ask you what you do?

She says I'm an author. The reason I wrote the book is the third purpose of the community forest and the fifth is growth in today's concerned world with body technology where you can work everywhere and all kinds of things are happening and a lot of people are getting older but They don't want to work completely. time, but I want to work, we're not set up that way, so I wrote something called fractional employee, we have independent employees, sure, thanks, we're independent employees, this is just in time, we have independent employees, we have contract employees and we're employees full-time, but what about a fractional employee?

They have all the employee benefits now. Canada doesn't have this problem in the US. We need you to work 50 to get healthcare. You get medical care. You get equity, but half. or whatever, so we have to reimagine how we bring people in when the population is declining and aging. The current work structure is not prepared for that. Well, what happened last week? We did a little thing where 60 of the top fulfillment creators are all over the world. we exposed them, so one of the things I do for the

publicis

t emcee, all the executive trading programs, I do it for a few other people and we basically gave them access to the latest technologies, we trained them and then we had them fight, we had battles against the best. creatives across the group of advertisers, so team one was all incredibly smart senior leadership and these were other people that we were trained in this technology, we gave them a task and out went the people with Runway ML and Ai open and stable diffusion, they did better and faster. work than all the other people every time to such an extent that they said: I hope the clients don't agree to this and said they do it, they do it well, so what happens in a world where we are all going to work with machines, even in the The creative business and the writing business This is not just the technology business How do we work that way?

How do we work in a world where 99% of all software written today is written in the cloud? Nobody came together to create Linux. No one came together to create Discord. and we keep thinking back, why would anyone start a company today if it's a summer company right now? and I said, I have a blank sheet of paper with everything you know, start a company, and some demented person would basically say that all my employees are going to be in a building in downtown Toronto with high real estate costs that they have to commute to. and that's the way I'm going to operate nobody, nobody well and that's why the future is tomorrow, no matter what the sun cost yesterday.

We still think that sunk cost is just a fallacy, that we hate taking losses in the market, but we think that way all the time, like in 2019, in 2017, so the future of work is going to change because and I discussed it. This was seen a bit in yesterday's workshop, so this is the only place that is duplicated a bit. The difference between Generation Z and Baby Boomers is so significant in every characteristic and, due to the aging population, the declining population we are basically going to have in the workplace for the first time. time, whatever the workplace, people between 20 and 70 years old, try that, try, the fact that the majority of people over 60 maybe not in Canada, but in the United States, have now basically grew up in a male-dominated Caucasian society.

Let's look at America under 21, they are a Caucasian minority, if you want America to be great again and look like it used to be, you have to kill everyone under 21. Otherwise, too late, right? And that's why a big part of what we're all looking at is you? I don't have a job anymore. I guess I don't hold down a job, but you're all good. These people are waiting for you to guide them into the future and a big part of leading them into the future. It is recognizing what the future is. I've given you a crazy person's idea of ​​what the future is and I'll be open enough for questions, thank you, so there's a couple of microphones if anyone has a question and I'm on time two. which is good, there's one there, so I asked because you talked about going to different companies and having these conversations, um, and this kind of focus on yesterday's Sun costs, so what does that have to do with reimagining what we do with the real estate sector, like we have real estate crises, is something like that.

Do you see it as a next evolution of what we do with these traditional workplaces? Yeah, I mean, there are two things that are happening in the city where I operate from. which is Chicago, much of LaSalle Street, where all the banks are being rezoned into apartments because people had already started moving out of them to like newer buildings, in some cases it's really difficult because of the electricity, the plumbing and washing machines. It can't be done that easily, but it turns out that's one of the things, so people have to imagine that the other one is really a big crisis about what management is, because in many cases management used to be monitoring people. people, but we don't monitor like I do.

We often sit down with high-level people like me, experienced, I'll call myself experienced and say okay, look, we worked really hard to get the corner office so we could dominate all these people and now we basically have the exact same ones. real estate on Zoom that they do in the exact same square as them and what they ask us is what do you do, other than telling me what to do, do you do anything well? So a big part of this is the way we've done it. even the designed offices were a bit strange and unfortunately the way the offices have been designed now has been designed so that people come in, put on headphones and look at laptops, and someone walks into the office and I leave . aboard so many companies and I look around and say there are 30 people here doing exactly what they were doing at home, is that a good idea?

It is not. So a big part of this when you reimagine offices is thinking about hospitality. that they are worthwhile places for people to meet and interact with each other and also to think about whether it takes two, three days a week or three, four days a month, but in those three four days you put a lot of effort into bring everyone together again at the same time because theHalf in and half out might be fine for the company, but having your team half out becomes a real problem, so it's a matter of reinventing and in this section you write what you think. call the future of work and show how different companies are doing it, if that makes sense, this one here I think, oh, sorry, sorry, thank you very much, that was very, very interesting, just a quick question about the overlap between two of the trends you mentioned, the connected seniors and the demographic change we are seeing.

I lead the contacts in our businesses both here in North America and abroad and we are seeing that you know a portion of our employees, our 25 and under and another portion of 55 60 even 70 years and we struggle with that overlapping with the connected era and just the manager of new technologies and getting that workforce that is over 65 uh, you know, working effectively in this new connected era, I mean, how do you do it? Do you see that it overlaps? It is very difficult and I think it is one of the things that one has to do. The question is difficult.

The answer is not simple, but I will give you two or three things that people are trying to do basically. Basically, the reason I'm writing my new book is because I'm revisiting those five questions of why we work, how we work, when we work, who we work for, we work for, and what work is, so I'll give you a statistic that might help. . You, which is what really unites young people with experienced people, but there are some commonalities between the two, so one of the most important things is this. I think this is a US number, but I think it would be projected in In Canada and therefore in North America, before 2030, most people will be self-employed, so in the US .there are expected to be 98 million people and they will be self-employed partly by choice, because they want to work. in a place, etc., but also partly because companies are going to say: why do I want to have the full cost?

I can't let you know some of your costs at the same stage. More experienced people like you and I would like to work until we're 70 possibly again it could be different it could be charity work it could be educational work it could be whatever we know as the person above whatever our Magic skill set is , you know, which we may not have used from the beginning when we had to pay bills and we want to do something different and that will be part time, but for both groups to do it, it will basically be necessary to take advantage of technology and take advantage of understanding degenerations, so that one of the things that I highly recommend to companies is to take young people and pair them with older people, experienced people, not all people with young people and have them teach each other things.

Young people need the mentoring we can provide. they are not completely fake and useless, that's fine, on the other hand, they can teach us how to live and use technology much more easily than many other people, so smart companies are now starting to join in, it is a very interesting combination that In Actually, it never happened and we do that at home. It's called grandparents and grandchildren. It's a way that you know people basically do it because it's hard the way my kids who are 30 years old use technology and I use technology even. Even though I'm supposed to be good at it, I look really bad, which is key.

I think there is another question. Yes, ask here. It's interesting that you share about how riding the waves increases your likelihood of success. strategy, do you think there are equal opportunities regardless of the size of the company? Should there be structures or attributes for a company to be successful in those waves? Is it equal opportunities? If I identify those four and rely on them, how can I do it? you think about that or I love the combination that you just shared in the previous question, but any other thoughts, yes, that's there, these benefits are applicable to any type of business, regardless of size, big or small, you know, regardless of the industry, so I'll give you because obviously I don't know all the different industries and each industry has its own idiosyncrasies, but every time there is a changing of the guard, which is what I think we are having a changing of the technology guard, both They are a period.

It's a period of creative destruction where new things come while many established players fall, but that doesn't mean all established players fall, so the example I'm going to give you is an example of something. small and somewhat large, both in one case they adapted in one case they did not adapt and how things are and I'm going to give this in two different categories, three different categories, just to show you that it's not just one category, so the three categories I'm going to talk about a software Cars and restaurants are set up quite differently, so once a service company, a software wants Hardware, software, hardware and restaurants, cars, car companies, and When I am, I am still connected with the

publicis

t, but when I was a publicist because of the size and things like that we had.

I don't know seven of the ten largest car companies as clients and I was able to visit them, so we had Mercedes as a client, we had stalantis as a client. a Toyota as a client, we had General Motors as a client and since I wasn't working at any of our agencies, I was a strategist at all the ones I could go visit them and they were less interested in telling me things, they just asked me to talk. I told them what could happen and what I started to realize is that all these companies were not seeing something coming and as a result they were comparing themselves to each other and because they were comparing themselves to each other they missed two companies and they missed out on Tesla. and they missed Uber, which until recently were the two most valuable companies in that category because Tesla was asking the question: is the future electric and is the future driven by software and everyone who ran the car companies was driven? by internal combustion engines and hardware and Uber said why?

Hell, you don't need to have a car, all the restaurant companies thought they were only in the business of delivering food if you had invested in Google, meta or Amazon or if you had invested in this other company that is a restaurant company. you would have done better with the restaurant company in the last 10 years than with Google or meta and this is all before the meta crash and it was all like a year ago and what was this company was Domino's Pizza look back at the financial records , Domino's Pizza was the best investment, only Netflix surpassed Dominos among the big Fang stocks, you know, because Domino reconfigured its business to be in pizza logistics as much as Pizza has today 23 ways you can get a domino that has It is the best app and unlike many food companies, they control the entire delivery system and therefore capture all the profits, thereby redefining the industry.

Now I'm going to talk about a big company, so Domino's was a big company that reinvented the automobile. Companies have now reinvented themselves and I will be smart again. Now let's talk about a company that lost its way and reinvented itself and the reason why it says so well that it will probably be the most valuable company more or less, of course, Mr. Apple. Okay, and this company was very successful. Then, for 10 years, his talk went like this: 30 US dollars. Okay, and I believed in certain things. I believed they had believed that their Core product was basically the way they should see the world.

They needed employees to compete with each other and basically believed that anyone outside was the enemy. Five years ago, this company got a new CEO and the new CEO in the first six months did the following four things and basically said number one, no. more stack ranking, we live in a world where I get together with my employees to compete against each other, but if every year I get below the bottom 10 percent, no one will talk to each other because I'm competing to keep my job, so no. more stack ranking number two for some reason We think we know it all We don't know it all We need to learn everything so he gave everyone a book called Growth Mindset.

Okay, my book name is Carol Dwight, she has the same agent. That's how I met this little story, so she gave everyone a book called, you know, third, he basically said: I think the outside world and everything else is really good, so I'm going to partner with them and the last is what brought us to the party now it's poison and I'm closing the division there are no more divisions call it that the stock price is up 500 percent in the last six years for those of you who are guessing the company is going call Microsoft there is no operating division of Windows, everything there is no operating division of Windows, it is gone, they are the largest contributors and believers of Linux, they own GitHub, they are basically going to assume that their act, their acquisition of Activision Blizzard could happen, it will be the largest gaming company in the world. the world and that's how they're going to enter the metaverse, but they're already very big because they own, you know, Xbox and some other things, so he redefined the company, a big company called Microsoft, and completely reinvented it, according to your spot.

I think it's actually leadership and not company size, it has nothing to do with company size, it's basically are you going to take calculated risks now, obviously Microsoft is a calculated risk if you are, but if you are a younger company, you can take it on. I get a little more hysterical about it, but I don't understand why people need a burning platform to jump off of. You should put a Bunsen burner under your butt instead of letting the market put you on a platform of blame. It is a very simple way to do it. is this and I will give you this exercise and you must do it with alcohol or with drugs from another higher source, but this is what you must do and it is the only thing that all of you must do, ask yourself the next question, which is I guess I had all the assets that I have in my current company, so just list all your assets and each company has many assets, so every asset that you had includes the key ones, then it basically says I have no restrictions and accepts the next three.

The only three limitations you have are that everything you do has to be legal and ethical, which are two different things, but it has to be legal and ethical number one, number two, everything you do has to be scientifically possible in the year 2023. number three, whatever you do. has to break even in X years, you can decide that a customer or a competitor and tell them how you're going to put them out of business, or at least how you're going to put yourself out of business if you had your assets, none of your liabilities, but just those three limitations, whatever you'll come up with. right after a few drinks. it's an amazing new company, an amazing new product, an amazing new service, at which point I'm going to ask everyone why they don't do it because they don't do it because they imagined it and someone will do it.

Very often, leaders do two things. Leaders like Elon Musk Putin, the guy who ran FDX, they destroy themselves and they do it by crossing the ethical line, the human line, something that most of the rest of us self-destruct by not daring to take risks and obviously there is a line that is not can do. I don't want to go too far, but in effect, the future of your business and your side is you and I keep reminding people why would you stop that and I'll give it to you and you say, okay, okay, this guy is like a theoretical academic. who doesn't know anything, so let me tell you this little story.

I'll end this if there's another question and I know the average time, so it's 19, it's 2005. The publicist group I'm not part of the publicist group somewhere. go and buy the companies I'm a part of, I came up with the banana system Leo and a lot of people in leobena and everyone else says we don't like the French and I said why, because they're telling us. what to do but I said they paid us we sold them our company so now we work for them so you can't take their money and then say we refuse to listen to you it doesn't work that way like I heard it last time.

If someone acquires you, you have to listen to them, okay, I'm not saying you have to be their servant, but you have to listen to them, they said no, we're going to quit, so I said, okay, you quit, I have to work because I'm unemployed, so I have to stay here and figure out what to do anyway with a little bit of trickery, you know, I made it to the top five six seven people in the company because all I did was I'm fine, no I don't have a problem with You guys, I'm going to come and help you and figure it out and then work with some very smart people.

This is what we begin to see,We started to see a future where the business we were in was advertising primarily on television and a little bit of Internet and a lot of advertising pages, you know, magazines and radio were in a secular decline that we're in, we were sitting like Smith Corona, but typewriters were still great, but we could see what was happening with typewriters, so there were two ways and Maurice Levy basically said we had to do something different, so this is what we did between 2006 and 2022. We borrowed and stole and basically spent 10 billion dollars buying new things, we reorganized the company, we changed the management and the company a lot. that was in 2006, it had 75 percent of its revenue from traditional advertising, the last number I looked at and I don't have access to the latest numbers.

I'm not there, but in the last public number I saw 22 percent, from 75 to 22 percent, we had 250. Engineers before we made our first acquisition of Digitas among a hundred thousand people, we have 21,000 engineers. A business model didn't work for a long time because we didn't know how to do the people part well, it took a long time. of drama, but right now we are two thirds the size of wpp and our market cap is 50 higher and our shares are still going up, we realized it was a horrible 10 years. It's okay to find out, but right now I'd rather be us. that no one else, I'm not saying everyone else isn't smart, they're fine, but I'd rather be us, but at some point someone made very, very difficult decisions and stuck with them and now it's too late for almost everyone else because What happened wasn't that Acquisitions was about the human: what do you do when you take creative people in Leo Bennett and combine them with data scientists and epsilons and Sapient engineers and other people who hate each other? and how?

Do you really make a model that works and that took a lot longer than the other things, but that's what really challenges us all. You are all challenged, which is one of the reasons you call us leaders. I have to make difficult decisions and let me assure you that the reason I have become an unemployed author is that I am not good at this like all of you are, so I will leave you with that, thank you.