Martin and Steve after the event

Lessons from Steve Case, Co-founder of AOL

Steve Case played an instrumental role in the invention of AOL and democratization of the internet, and here are some key lessons I learned from my hour with him:

1. Different skill-sets are necessary for “the third wave” of technology. As mentioned in Steve’s most recent book, we are entering a new paradigm called the “Third Wave” of the Internet. The first wave saw companies like AOL lay the foundation for consumers to connect to the Internet in the 90's. The second wave includes companies like Google and Facebook who build on top of the Internet to create search and social networking capabilities, while apps like Snapchat leverage the smartphone revolution. Now, we’re entering the third wave. This wave is a period in which entrepreneurs will vastly transform major real world sectors like transportation, health, energy, food, and education, and in the process change the way we live our daily lives. The “internet of everything,” as Case said in his speech. Success in this third wave will require a different skill set. To learn more details about these necessary skills, purchase his book here!
2. Jobs are not “doomed” in the future. I’m always curious about future jobs given the direction technology is moving. We continue to read about automatic checkout machines and self-driving trucks. With the exponential growth of technology and human population simultaneously, what will happen? Steve pointed out that over 200 years ago, 90% of the U.S. population lived on farms and produced their own food to eat. Today, only 2% of the population produces food for the world to consume. Does that mean that there is a 98% unemployment rate? Of course not. Just like new innovations and industries have replaced old ones, Steve is optimistic that this will continue to happen. He stated we should not get lazy and keep going back to jobs that can be optimized or replaced, but rather find new avenues to make life better.
3. Work gives people purpose, not just income. There is a company in Detroit called Shinola that takes unemployed manufacturing workers and allows them to produce watches. This company has boomed because as auto-manufacturing has become more automated, it allows individuals to take their skill sets to a similar yet necessary position. It gives them a sense of purpose that ultimately not only results in income but also happiness. Keep this in mind.
4. You never know the result of seizing an opportunity. Do you remember the “you’ve got mail” voice? That came from Elwood Edwards, the husband of an AOL employee. He was a voice-over actor and at the beginnings of AOL, and was asked as a quick favor to record in a CD-ROM some lines to be used such as “Welcome,” “You’ve got mail,” “You’ve got pictures,” “You’ve got voicemail,” “File’s done” and “Goodbye.” Little did he know that these recordings would become an iconic sound heard by millions around the world. In other words, say “yes” to things!
5. Certain innovations lead to others. Steve said that Mark Zuckerberg had approached him saying, “at age 14 I was part of a hacker group that attacked AOL.” Steve remembered this specific group, but never imagined that AOL provided a platform to train a 14-year old to create the worlds most powerful social network. There are secondary effects on your entrepreneurial work, and sometimes you’ll never know what impact it has had on others.
6. Young entrepreneurs are sitting in the hot seat. It is our job to shape the future by creating a company that results in more jobs and success. We must keep reading, listening, and predicting future trends. My first step in this is to attend inspiring speeches like Steve’s, and I am sharing my key learnings to pass on these insights to others.