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September 22, 1999
Rakesh 'junglee' Mathur replays IIT presentationPriya Ganapati at Pragati Maidan
Ex-junglee.com, ex-amazon.com fame Rakesh Mathur delivers the second keynote of the day. He definitely believes recycling is good for the IT environment.
A few months ago Mathur was at the Indian Institute of Technology in Bombay to deliver a lecture on 'The makings of a Netpreneur'. Today's keynote address is an exact reproduction of that presentation. Not counting a new slide or two and a few extra statistics. Voila!
Mathur starts the presentation with the exact same words and examples too!
Here an extract from a Rediff report published on March 15:
"In a short time of three years Yahoo! has a larger market capitalisation than The New York Times and CBS combined. It has 50 million customers who come to Yahoo! first because of their services. Yahoo! has thus taken a mature industry, that is the media, and 'dematurised' it. Now if you look at amazon.com, it has dematurised commerce," he explains.
"The Net is now at a strategic inflexion point. All individuals and careers are going to be and will be made now on the Net," he declares.
He advises: "Extreme customer obsession is what it takes to survive on the Net. You have to love your customers and take care of them. Then the competition takes care of itself. Be scared of the customer, not the competition. Customer data is the key asset in e-commerce."
"The point is that incredible wealth has been created by creating new ways of doing old things," Mathur summarises.
Mathur adds that there is incredible wealth creation happening because of new ways of doing things. He also illustrates how the Net is changing the way people do business. "The traditional channel has been manufacturing, distributing, retailing and customers. This reduces the interaction between the manufacturers and the customers and increases the distance between them. But the Web has collapsed this distance. There is a one-to-one interaction between customers and manufacturers," Mathur explains.
He reiterates that customer data is the key asset for companies doing e-commerce. He points out the opportunities for India since the explosion of the Internet.
"There is now a level playing field because every industry is being remade in a short period of two to three years. It has also given us access to global markets."
Mathur then launches into the story of how Junglee was formed by him. Over the next few slides the audience is once again listening to the anecdotes about the great start-up story.
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