I'm a big believer in the fact that human beings tend to be a little lazy and it's hard for them to change their habits. While I think it would be great if the average human consumer was willing to change their behavior, I don't think they're just going to do it on their own. We don't have a lot of time to make some of the changes we need to have happen. Everyone will tell you as we look at the news, as we read articles, that the world desperately needs change-and it needs it fast. But what's also true is that if you need to move quickly in the world of impact and social change. That really makes a lot of sense for the business world, which is why we say that it's the way that you build the world-changing companies. Facebook, social network and online advertising, and so on and so forth.
You can look at Google as the leader in search and online advertising. You can look at Amazon and say, wow, Amazon's the leader in eCommerce but also on the cloud. They're all blitzscalers that have won winner-take-most markets. That's why there's trillion-dollar companies roaming the landscape today. Then once you've won the market, you can print money and basically rake it in at your leisure. The question becomes: Why would you want to do that? In the business world, the reason is if you're going after a valuable winner-take-most market, your goal should be to win the market. What it basically means is we are going to sacrifice what we normally think of as efficiency and certainty in exchange for moving faster. We use blitzscaling to describe a philosophy of pursuing speed over efficiency. Would you talk about blitzscaling and how you think impact can be brought into the equation? You've had this front row seat to the world of tech startups, and you've seen technology be a tool for building businesses. You can find their talk in its entirety here and below. The following are excerpts from their conversation, edited and condensed for clarity. As Yeh tells Yazhari, “I don't think there's enough being talked about in terms of impact investing and its importance in the world, and so I'm glad to be a part of the discussion.” Recently Eva Yazhari sat down with Yeh to discuss blitzscaling, which is the title of Yeh and Hoffman’s book, and how this approach can be put toward other forces worthy of rapid scaling-including impact, social impact, environmental impact, and stakeholder capitalism. Others, like Yeh and Hoffman, see it as a philosophy in our age of rapid globalization. Coined by Chris Yeh and Reid Hoffman, the term essentially defines the modern science and art of building rapidly growing successful world-changing companies that will then go on to transform industries. In the world of business, blitzscaling has become a household name.
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