Important points discussed in the video -

1. The first topic discussed in the beginning of the video was that Friction has been removed from the buying process for example Facebook has been able to help people connect to other people easily and Netflix has helped find entertainment easily whereas other companies are bringing more things in house and developing their own in house teams.
2. It is not only about TECH but it is about PEOPLE. Companies should put more efforts in understanding people rather than understanding tech. social understanding about people should be done by either interviewing them or talking to them. The most important thing would be how to tick people as everything is getting replaced by AI but understanding people cannot be taught to AI.
3. Data is available to everyone at this point but the main thing is how people use this data. Everyone at this point also has Tech but creativity is what sets companies apart.
4. It is easy to start a new business now a day but it is difficult to scale a business. On social media it is more difficult to scale a new business and compete with already established business. Even if the new product is more affordable and a better product, but people will buy the already established product.
5. The most important and the most difficult thing to do in today's time is to grab people's attention. It is very difficult to grab people's attention without knowing and understanding people. This is because attention is the most valuable commodity.
6. Amazon built the largest e commerce for millions of people who don't know anything about marketing but now can sell their products through their website.
   
   What would be the end result aka business implications if these 5 points are followed or not followed? Mention 2-3 points for both?