Thousands of innovators and investors gathered at Ross Perot Jr.’s Circle T Ranch at AllianceTexas in Fort Worth last week for a VIP reception to kick off the 2022 Venture Dallas conference.
It was a coveted invitation.
As the sun went down, business leaders from inside and outside North Texas gathered in one of the most beautiful landscapes in North Texas. Hosted by Perot Jayne at the Perot family’s private ranch, the event was held at a barn in Texas. But it’s not just any barn. Located in the middle of a working ranch, this place is your hospitality secret weapon. Surrounded by parks and high-end architecture, visitors were greeted with “Gus the Longhorn” and cocktails laced with honey from the ranch’s bees. With the sound of a helicopter landing nearby.
The event preceded the next day’s conference showcasing the region’s talent and venture ecosystem at the George W. Bush Presidential Center. Perot Jain’s partners Ross Perot Jr. and Anurag Jain took the stage for a fireside chat about why North Texas is a hub for innovation and why it’s an investment destination.
“This is a very open community, one that is open to new ideas and one that doesn’t care where you come from or what your experience is,” Perrault said at the event. “What we really care about is what you’re going to do. That’s the Texas spirit.”
There is a particular optimism here. “We help each other and believe in public-private partnerships.”
“We can grow 360 degrees.”
This is the place, says Perrault. “There are no barriers to growth in this market. And we are still affordable.
“We will be the largest region in the country in another 40 or 50 years,” said Perrault.
In a conversation moderated by Aaron Pierce, Perot spoke with longtime business partner Jain about how the region’s high growth continues to attract new talent. Jain said that while we are still in the early days of the ecosystem, we are “on the rise” when it comes to venture investment. Looking at the numbers, Dallas is up about 50%, and elsewhere he’s down 60%, he says.
Jain, chairman and CEO of Access Healthcare, a healthcare revenue cycle management company, said:
“We are truly in a singularity, where technology, people, and movement of people are going to change the way things work,” he said.
Jain shared seven trends driving the future of innovation today. Here’s what investors, entrepreneurs, and futurists keep in mind when making new investments.
1. Human longevity
“The reality is, people are living longer and longer. One of the gurus in this space said, ‘Don’t be stupid and survive the next 20 years. You’ll probably live to 100. And each year, technology , personalized medicine and gene therapy are adding 4-5 years to our lives.Every year, more people live longer, impacting the economy by $38 trillion.What can we do with the abundance we create? Please think about
2. Employee skills
“As people live longer, their jobs change. Technology will change their jobs. There are 2 or 3 skills you must have, and the next generation will probably need to learn a new skill every 8 to 10 years. They will have different jobs, so it’s amazing how quickly the education system has to adapt to train people over and over again.”
3. Mobility
“With so many people, so much data, so many goods, how can we move them efficiently, cheaply and safely? The whole mobility market is going to explode. Whether it’s people, data or products, how it will continue to happen faster and faster will be the big trend.”
4. Supply chain efficiency
“During the chaos of COVID, we saw how badly the supply chain really operates. Amazon just announced a multi-billion dollar fund to track its supply chain. I think that’s just the tip of the iceberg: Over the next 10 years, we’re going to spend more than $1 trillion on improving the efficiency of our supply chains.”
5. Government incubation
“As[supply chains]become more efficient, they will also collapse. We have to support the work that the government does, first to make this country resilient and self-sufficient in certain areas. Governments are probably the best incubators you can find, they can throw more money into problems than most of us in this room, and that’s important We need to work with the government to improve the incubation of companies more and more.”
6. Real Estate
“You’re going to see this old, somewhat squat business change for the first time. The entire real estate ecosystem, which is a big part of the economy, is about to change.”
7. The future of work
“The entire human work equation is about to change completely. Let me show you the three dimensions.
The first is changes in the way we work. He defines work as one person doing many things, not one person doing one thing. 66% of her in this country will have some gig economy job in the next decade. It’s changing the employer-employee connection and the way they work.
The second is where you work. We’ve seen with COVID, our lives have changed…remote work is possible. Therefore, the place of work will change.
Third, and even more interestingly, in 10 years more than 60% of the people who can work will be in India and Nigeria. And the rest of the world will experience population decline. So there will be a mass movement of people moving to where the jobs are. So, jobs are changing their looks and people are moving. All this is happening at the same time. ”
Descriptions have been edited for clarity and brevity.
Quincy Preston contributed to this report.
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