Economics + Microbreweries | Adam Williams | TEDxPSUErie
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- เผยแพร่เมื่อ 2 มิ.ย. 2024
- Adam Williams takes a traditional concept from economics (i.e., the network economy) and applies it to an unlikely industry (i.e., microbreweries). He shows us how, by working together, small brewers are able to compete with multi-national breweries.
Williams asks us to consider the idea that collaboration can be a new kind of monopoly. And perhaps cut-throat competition is not the path to growth that the experts have always assumed.
Adam J. Williams is an Erie, PA native, a Penn State Behrend alumnus, and a semi-professional beer drinker. As an attorney, he represents companies of all shapes and sizes. He also represents individuals in a variety of lawsuits and real estate transactions. His TED Talk will take a traditional concept from economics (i.e., the network economy) and apply it to an unlikely industry (i.e., microbreweries). By working together, small brewers are able to compete with multi-national breweries. Adam would like people to consider the idea that collaboration can be a new way to achieve a monopoly. Perhaps cut-throat competition is not the path to growth that the experts have always assumed.
This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at ted.com/tedx
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Great talk! As a craft brewery owner, this concept has been at our core since the founding of our company. Thanks for putting it into words!
Great, Jack! Ironically, I am in the process of starting a food truck now, and we are working with other food truck owners in the area. Practice what you preach!
Hi Adam, great talk! I am from India and Just to add an observation that this concept of network economy or network of competitors helping each other and complementing has been in existence way long before in Indian towns and cities. Now slowly vanishing in cities with bigger brands, but still existent in small towns - where brand doesn’t matter but the business is strong and healthy. An example in my home town in South India, there is a shopping area or district for gold jewellery shops which exist for 100 years or even more - all of them complementing their skills, referring customers to next door shop where you can get exact design or who specialise in certain areas. Not only gold, including daily grocery stores, vegetable and fruit markets all work in same fashion :) Please take this comment positively. Again thanks for the great talk !
Sounds like my boys in Springfield, IL. 3 of 5 local brewers are really close. Ran out of X hops and the others pitch in. Thought about making my own place with a few tweeks to the business model. One of the owners has agreed to be my mentor and get the idea off the ground. His head brewer is throwing me a lot of good information on classes and how they got off the ground.
Interested to hear an update on how your venture is going!
@@Raraoolala Well... the entire COVID thing happend. That put a big damper on things. The state govt has been killing small business left and right. I've been saving and buying more brewing equipment. Glad I didn't quit my day job needless to say.
@@Skauri thanks for the update, hope the beers keep brewing!
Great talk!
Actually leasing out whatever PPE you aren't using to those who might be perceived of as competition makes a lot of business sense. It makes those large equipment purchases more viable by using up more excess capacity of the PPE, from the kettles and fermenters to the building. Also the value of sharing of ideas cannot be understated, and by having two teams use similar processes, each can learn from the others good ideas or mistakes.
great advice Adam!!!!!!!!!!
He's talking about a situation of perfect competition entailing from the network economy. But are the beers all homogeneous and perfectly substitutable? I beg to differ, there's bound to be some beer which is different or better. So the collaborating businesses are inevitably going to compete and one-up each other
The brewers that I'm familiar with like to crank out great brews, win competitions, and make money but it doesn't mean that they need to attack their competition.
There's a HUGE market of non-craft beer drinkers out there. If one of the breweries brews bad beer, then the entire craft brewery industry is hurt if it stops the non-craft beer drinker from trying another craft brewery.
What did he even say about the topic?
Oui il y a des gagnants et des perdants comme dans toute affaire, mais dans l'univers de la bière il y a environ 1 brasseur sur 100 qui arrive à en vivre dans le monde pov plouc !
I like the Glock hat. Second row - looks like it's in front of a lady. But, maybe the bald guy to her right. The talk was good, too.
GAS.
Network economy is a core idea in socialism
How so?
Everyone is both the producer and consumer. Thus it behooves everyone to do their best to increase their welfare level which in turn will increase both consumption and productivity and so on.
From what I get from the speaker, providing a wider set of products as communities continue to grow, the good or service increases as the number of buyers
expands. Meaning that People need variety and a central location for consumption.
MILTON FRIEDMAN DID NOT SAY 'for me to succeed, everyone else must fail'. Please do not associate individualism with being cold-hearted and not reaching out to work with others. Friedman was against government monopolizing some and not others. He said NOTHING against what your friends did with their brewery. Infact, he would promote that. That is how the market economy works.
What? The lawyer lied. i.e. "if you like your Doctor,...."
You’re right, he didn’t say that. Larry Ellison did. Go back and watch it and listen this time.