An Interview with Rick Huckstep

Rick Huckstep

Solopreneur

Key Topics:The future of the tech economy; BigTech's strategies; technology startups and emerging tech; the metaverse; web3 and the crypto economy; impact of social media.

Location:Seville, Spain

Bio:

My entire career has been built on providing technology solutions to business problems. For the past decade, I have worked with technology founders and entrepreneurs, advising them on strategies to grow in a highly competitive world. In early 2021, during the lockdown, I launched Wiser!, a weekly newsletter for the tech economy, where business, strategy, trends, and technology come together. Outside of that, I live a full and active life in Southern Spain.

How did you get to become an expert in your key topics?

Since the age of 17, I have only worked in the technology industry. The first third of my career was in IT operations, running a large IT department. My career took a turn in the early 1990s when I moved into a sales role, working directly with clients to solve their business problems. I spent 20 years in business development across a range of disciplines, from IT outsourcing to software and solutions. This I call the middle third of my working life. A decade ago I quit corporate life to work freelance. I became an angel investor, startup advisor and consultant, and chairman of an online media business.

It was around this time that I fully embraced social media. I started writing about emerging technology in insurance and by 2016/17 I had over 100,000 followers reading my InsurTech Insights. Now I write about the Tech Economy and am building a community around my newsletter, called Wiser!

What sub-topics are you most passionate about?

Making sense of what’s happening and what’s next in the tech economy, including;

The brand strategies of BigTech
Emerging technologies and the startups that pioneer them
The societal impact of social media Web3 and the crypto economy
AI/AR/VR/Metaverse

Who influences you within these topics?

What challenges are brands facing in this space?

The biggest challenge for brands is that the post-pandemic world is going to be different, but nobody yet knows how different. Consumer habits have been reshaped by lockdown and the shift to working from home. A large segment of the talent pool has decided to opt-out of paid employment to go it alone. This is going to make attracting and retaining staff an issue for corporations. The economic cost of Covid is being felt in rising inflation and supply chain issues. This will fuel interest in alternative monetary systems, Bitcoin and the crypto economy. Meanwhile, China has built a big lead over the West in creating a 21st digital economy based in decentralised tech, blockchain and digital currency. Finally, attention is the holy grail. But this has been monopolised by BigTech who hold it with a firm grip. Prising open a space for brands is going to be their biggest challenge in the context of all of the above.

What do you think the future holds in this space?

A lot of opportunities for brands to create new and innovative products and services. The battle for the attention economy is going to drive innovation as the new normal unfolds. Emerging technologies will unlock brand new ways of living and working that were not possible 5 to 10 years ago. And the pace of innovation and new development is only getting faster, which in turn, shortens the life cycle for product innovation. The brands that succeed will be those that are built on 21st-century digital platforms and operate to a 100% digital strategy. The laggards will fall away quickly and big brands will be lost much faster than we’ve ever seen before. We will see brands jump from zero to 100 in ever shorter periods of time, and vice versa! The key for any brand is the extent to which they can use technology as the foundation for grabbing attention.

What brands are leading the way in this space?

IMHO, the top 3 brands are; Apple, by a country mile is the brand role model with Ferrari-like margins with Toyota-like scale. Next, is Tesla. Elon Musk has single-handedly redefined the auto industry from low-margin manufacturing to becoming a high-margin software business. Finally, TikTok. This is the most addictive social media platform in history that has grown twice as fast as Facebook and shows no signs of stopping. TikTok will redefine social commerce and influencer marketing as well as reshape the music industry (amongst other things).

If a brand wanted to work with you, which activities would you be most interested in collaborating on?

Podcasts, webinars, whitepaper, speaking opportunities, product innovation, video interviews.

What are your passions outside of work?

I have been married for 36 years and have 3 great daughters who are finding their way in the world. I take great pride in watching them grow. I play golf and padel every week, discovered yoga during the lockdown, and regularly cycle along the beach and through the orange groves. I’ve been learning to speak Spanish for 3 years. It’s hard, but I love the challenge! Social life in Spain is very important and very different from the UK. Family and friendship come first over everything, especially work. I like that!

What would be the best way for a brand to contact you?

Email and Whatsapp.

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