Rishad and Simon Talk Global at UO Panel Discussion

Yesterday afternoon, Simon and Rishad spoke at the Jordan Shnitzer Museum of Art and took questions from students and faculty. During the discussion, the speakers talked about the future of media and where the shifts will be in regard to media production, and who the big players will be. Rishad spoke of the countries that will play a large role in the future of media and the economy and what tools make them successful. Those countries were South Korea, Japan, China and India. Rishad spoke briefly about each country and why we should keep on eye on them in the coming future.

South Korea has become the leader in video game technology and television. The country possesses two of the largest consumer electronic companies in Samsung and L.G. They also have a very strong internal infrastructure, which will help them maintain a stable economy and line of production.

China is the fastest growing economy with an obviously large amount of people to work with. They have the biggest internet and auto industry in the world. While we may think Facebook is big in the United States, the Chinese version of the social-networking site dwarfs ours in comparison.

Japan currently possesses the best mobile system in the world. They have a simple and inexpensive payment system that allows easy access to mobile devices, connecting the entire country very easily. Simon also noted that their phone is beginning to replace the wallet as their source of identity and information. While it may sound like a pocket overload, Rishad said it is fashionable in Japan to carry more than one phone. Soon many monetary transactions will take place with the cell phone instead of currency. Japan is also aging fast, which will lead to many job openings and opportunity for technological growth and development.

India, like Japan, has a very successful mobile system. There are over 600 million phones in use today in India and that number is still rapidly growing. They have also developed the world’s cheapest car, the Tata Nano, which sells for only $2,200 (airbags and power brakes not included). Unlike Japan, India’s population is very young. In fact, they are the youngest country in the world, which makes them very versatile to adapting to new trends and market structures. Rishad also stated that India’s culture is the most similar to the U.S. in comparison to the other countries listed. They have a very modern culture that is changing constantly and enjoy similar entertainment to that of the United States. Many of the large Indian media corporations are buying some of the top production companies in the U.S., including Spielberg’s company DreamWorks, who has been acquired by Reliance. To further prove his point, Rishad informed us that India and China currently posses 75% of the entire world’s economic growth.

This is all pretty mind blowing stuff. While the U.S. will be losing some of its prowess, other countries are stepping up. We are seeing a changing of power, and it’s all very exciting. This is something our parents or grandparents have never seen, and it’s happening in our generation! While it may not be the best news for our country, it will be interesting to see these countries develop and how the U.S. responds.

Thanks again to Simon and Rishad for this all-you-can-eat buffet of knowledge.

- Geoff

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