10xTalk With Joe Polish And Dan Sullivan

In this episode of 10x Talk, Peter Diamandis, the founder and chairman of the Xprize, shares his vision of the future: a future where we stop thinking linearly and start thinking exponentially. You’ll discover the power of thinking big and bold, the 6D’s of exponential framework, and the exponential organizational tools that can help businesses ride evolving technologies to a much bigger future.

Here’s a glance at what you’ll learn from Peter in this episode:

Evidence Of Abundance: Why we are working less, increasing our standard of living, reducing poverty, accessing more and more technological capability for far cheaper than ever before, living longer than ever, are safer than ever, and living in the most peaceful time in history.
The Secret Of How Billionaires Think: Peter Diamandis sat down with four billionaires – Larry Page, Elon Musk, Jeff Bezos, and Richard Branson – and after asking them questions, he discovered 6 “Thinking At Scale Strategies” they use to think big and act boldly. Here’s what they are.
How to go from “I have an idea” to a $1 billion company in just 2 years time (It’s possible today. Here’s the reason why AND what you can do right now to ride the billion dollar wave).
Why you need to build your business with an eye on where technology is going to be and NOT where it is right now (If you deliver a product based on what it is today, you’ve missed the boat and you’ll be out of business tomorrow).
6 rules for having the top talent in the world work for your company, becoming a massively productive organization and having a self-managing company.
Insights into the 8 innovation principles Google uses for having people from around the world help solve their problems, iterate fast and impact millions of lives.
How to know anything you want, anytime you want. (Technological convergence is making this possible. Peter shares what you need to know to take advantage of this.)
Peter shares his 6 D’s framework that simplifies technology and gives you and your business the power to predict where technology is going.
4 critical insights for being more innovative, staying ahead of competitors and having a 10x mindset.
3 key questions to ask yourself if you want to grow globally, go exponential, and take advantage of the latest cutting-edge technologies.

Show Notes

Who is Peter Diamandis [01:12]
Peter’s Journey to Abundance: Bold [03:17]
- Bold is the blueprint, the tool on how to get to abundance [03:40]
- Taking on “billion dollar ambitions” [04:04]
Peter’s personal passion of opening the space frontier [04:40]
- People can make an impact [04:50]
Is local and linear thinking giving you your greatest impact [05:12]
- Our brains evolved to think in a local and linear fashion…we need to evolve beyond that [05:25]
- The greatest time in history: global impact and exponential thinking [06:00]
Disruptive stress or disruptive opportunity [06:08]
- Kodak and Instagram as examples [06:50]
- The new Kodak Moment [08:00]
- “How do you become Instagram and not Kodak?” [08:22]
The 6 D’s of Exponential Framework [09:05]
- Digitized technology [09:10]
- Deceptive early stages of growth [09:41]
- From Deceptive to Disruptive [09:51]
- Disruptive causes Dematerialization, Demonetization and Democratization [09:56]
Deceptive and Disruptive in picture [10:10]
- The early stages of exponential growth and disruptive opportunity are deceptive [11:50]
- By the time Kodak noticed the digital camera was becoming the standard, it was too late [12:10]
Example on Dematerialization [12:31]
- There are lots of things we USED to own that are now apps on our phone, many of which are free [12:35]
- If you’re in the thing business, look at what you produce and figure out what can be dematerialized [13:10]
- AirBnb dematerialized hotels [13:25]
Examples on Demonetization [14:18]
- Craigslist, Skype, iTunes, Google, Amazon [14:24]
Democratization of video camera, radio, books, and etc. [15:16]
- These are unbelievably POWERFUL forces [15:30]
The future of industry: Robotics and 3D Printing [15:55]
- What’s going to happen to labor-intensive businesses when labor becomes (effectively) free?
- The Google Autonomous Car [17:10]
- “The computer is seeing everything” [18:05]
- Eric and Peter on the space business [18:53]
- 3D Printing is a replicator [20:50]
- Allison Taylor on 3D printing: custom-made dolls [23:50]
- Invisalign: Using 3D printing [24:26]
- 3D printing of human organs [26:13]
Exponential organizational tools [26:40]
- “No matter who you are, the smartest people always work for someone else.” – Bill Joy [16:55]
  - Google has 40,000 employees?…that’s 40,000 out of more than 7 billion [27:05]
  - How do you get the 7 billion to do work for you for free, because it’s fun? [27:14]
- Gamification and examples on Peter’s blog [27:20]
  - Take your problem and find a way to make it fun for people…watch as they solve it quickly and with ease [27:30]
- Peter’s friend who deals with malaria [30:00]
- On-demand workforce [31:22]
- Freelancer [32:58]
- Crowd creation – 99 Designs [35:08]
- Data mining – Kaggle [39:03]
- Every company should utilize crowd funding [43:08]
Question and Answer round [47:08]
- How does 3D printing work? [47:16]
- How does crowdsourcing prevent cheating? [49:28]
- Where do you see 3D printing in the pharmaceutical and illegal side? [50:41]
- Is there a specific company on food for 3D printing? [51:51]
  - The Internet of Everything [53:05]
- Is there a way to handle dematerialization and demonetization gracefully? [54:42]
- What industry is in the deceptive stage that we should be focusing on? [56:23]

About Peter Diamandis:

Peter Diamandis is an international pioneer in the fields of innovation, incentive competitions and commercial space. In 2014 he was named one of “The World’s 50 Greatest Leaders” by Fortune Magazine. He is also the Founder and Executive Chairman of the XPRIZE Foundation, best known for its $10 million Ansari XPRIZE for private spaceflight. Diamandis is the New York Times bestselling author of Abundance: The Future is Better Than You Think and BOLD: How to Go Big, Create Wealth and Impact the World. His mission is to open the space frontier for humanity, and his personal motto is: “The best way to predict the future is to create it yourself.”

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To go deeper on the insights shared on this episode of 10XTalk, access your FREE COPY of the “8 Transformations of a 10X Entrepreneur,” go here: http://www.10xtalk.com.

To learn more about Dan Sullivan and Strategic Coach, go here: Strategic Coach

Strategic Coach helps you build a bigger future and create a Self-Managing Company. You will walk away with a prioritized plan, combined with the action steps, tools, and capabilities you need for maximum growth and momentum.

Genius Network is the place high-level entrepreneurs go for collaboration, contribution, and connections not available anywhere else. Members get strategies for exponential growth and opportunities for deal making, strategic partnerships, joint ventures, and more. Membership is by application only. Click here to learn more. You can also learn more about the Genius Network Annual Event here — which is the one time per year the group is opened to non-members.