[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:11.52,0:00:12.71,Default,,0000,0000,0000,,Hi. Em, yeah.
Dialogue: 0,0:00:12.71,0:00:15.74,Default,,0000,0000,0000,,I'm gonna tell you something about\Nwhat's happening in the car industry.
Dialogue: 0,0:00:16.06,0:00:17.03,Default,,0000,0000,0000,,And I thought let's...
Dialogue: 0,0:00:17.32,0:00:19.52,Default,,0000,0000,0000,,Let's have the first picture\Nput on the screen.
Dialogue: 0,0:00:19.52,0:00:20.63,Default,,0000,0000,0000,,This car.
Dialogue: 0,0:00:20.63,0:00:22.01,Default,,0000,0000,0000,,I'd like to see some hands.
Dialogue: 0,0:00:22.01,0:00:24.08,Default,,0000,0000,0000,,Who already has seen \Nthis car on the road?
Dialogue: 0,0:00:24.08,0:00:25.40,Default,,0000,0000,0000,,Who knows this car?
Dialogue: 0,0:00:25.82,0:00:28.02,Default,,0000,0000,0000,,Okay. That's quite a lot.
Dialogue: 0,0:00:28.96,0:00:29.85,Default,,0000,0000,0000,,Well...
Dialogue: 0,0:00:30.38,0:00:31.77,Default,,0000,0000,0000,,A friend of mine has one.
Dialogue: 0,0:00:32.54,0:00:33.56,Default,,0000,0000,0000,,And...
Dialogue: 0,0:00:34.05,0:00:36.77,Default,,0000,0000,0000,,When I talk with him about it, he's..
Dialogue: 0,0:00:37.12,0:00:39.07,Default,,0000,0000,0000,,He's always super enthusiastic.
Dialogue: 0,0:00:39.07,0:00:42.47,Default,,0000,0000,0000,,He says "Yeah, this car,\Nit just accelerates like hell!"
Dialogue: 0,0:00:42.47,0:00:43.48,Default,,0000,0000,0000,,"It's crazy!"
Dialogue: 0,0:00:43.63,0:00:45.46,Default,,0000,0000,0000,,"And it has this huge screen!"
Dialogue: 0,0:00:45.46,0:00:47.40,Default,,0000,0000,0000,,"And I can download apps on it."
Dialogue: 0,0:00:47.40,0:00:48.94,Default,,0000,0000,0000,,"And I can surf the web."
Dialogue: 0,0:00:48.94,0:00:49.99,Default,,0000,0000,0000,,"It's amazing!"
Dialogue: 0,0:00:50.20,0:00:51.44,Default,,0000,0000,0000,,"It's not just an electric car."
Dialogue: 0,0:00:51.44,0:00:53.65,Default,,0000,0000,0000,,"It doesn't drive electric.\NIt's more than that."
Dialogue: 0,0:00:53.65,0:00:55.10,Default,,0000,0000,0000,,And...
Dialogue: 0,0:00:55.70,0:00:57.07,Default,,0000,0000,0000,,Well, there are also\Nthe non-enthusiasts.
Dialogue: 0,0:00:57.07,0:00:59.89,Default,,0000,0000,0000,,And I say "Well yeah, \Nbut it's heavily subsidized."
Dialogue: 0,0:00:59.98,0:01:01.73,Default,,0000,0000,0000,,"And that will never grow."
Dialogue: 0,0:01:01.77,0:01:04.87,Default,,0000,0000,0000,,"And it still charges in hours."
Dialogue: 0,0:01:05.24,0:01:06.45,Default,,0000,0000,0000,,Well that's gonna change.
Dialogue: 0,0:01:06.45,0:01:07.92,Default,,0000,0000,0000,,And that's what I'm talking about today.
Dialogue: 0,0:01:08.48,0:01:09.73,Default,,0000,0000,0000,,Em...
Dialogue: 0,0:01:09.73,0:01:10.79,Default,,0000,0000,0000,,What's my background?
Dialogue: 0,0:01:10.93,0:01:13.05,Default,,0000,0000,0000,,I'm CEO and founder of Fastned.
Dialogue: 0,0:01:13.05,0:01:15.29,Default,,0000,0000,0000,,Fastned builds charging stations.
Dialogue: 0,0:01:15.29,0:01:16.14,Default,,0000,0000,0000,,Like this.
Dialogue: 0,0:01:16.14,0:01:18.59,Default,,0000,0000,0000,,Just like a regular gas station.
Dialogue: 0,0:01:18.94,0:01:21.27,Default,,0000,0000,0000,,They're situated along the highway.
Dialogue: 0,0:01:21.39,0:01:24.85,Default,,0000,0000,0000,,And you can just exit the highway,
Dialogue: 0,0:01:24.85,0:01:27.08,Default,,0000,0000,0000,,go into the charging station,
Dialogue: 0,0:01:27.08,0:01:28.77,Default,,0000,0000,0000,,put the plug in the car,
Dialogue: 0,0:01:28.77,0:01:29.70,Default,,0000,0000,0000,,press start
Dialogue: 0,0:01:29.70,0:01:31.64,Default,,0000,0000,0000,,and 20 minutes later\Nthe car is full.
Dialogue: 0,0:01:31.84,0:01:34.51,Default,,0000,0000,0000,,What that will do is that will give
Dialogue: 0,0:01:35.28,0:01:38.12,Default,,0000,0000,0000,,electric vehicles drivers the freedom\Nto drive wherever they like,
Dialogue: 0,0:01:38.12,0:01:39.58,Default,,0000,0000,0000,,just like a gasoline car.
Dialogue: 0,0:01:39.58,0:01:41.08,Default,,0000,0000,0000,,Why do you buy a car?
Dialogue: 0,0:01:41.08,0:01:43.30,Default,,0000,0000,0000,,You buy a car because\Nit gives you freedom.
Dialogue: 0,0:01:43.31,0:01:44.65,Default,,0000,0000,0000,,That's why you want it.
Dialogue: 0,0:01:44.95,0:01:46.65,Default,,0000,0000,0000,,And that's what we're going to do.
Dialogue: 0,0:01:47.20,0:01:51.20,Default,,0000,0000,0000,,Basically the same as \NShell or BP that puts on
Dialogue: 0,0:01:51.20,0:01:52.79,Default,,0000,0000,0000,,gasoline stations.
Dialogue: 0,0:01:54.05,0:01:57.35,Default,,0000,0000,0000,,So why do I think that this industry
Dialogue: 0,0:01:57.35,0:01:59.65,Default,,0000,0000,0000,,is headed towards this Kodak moment?
Dialogue: 0,0:02:01.50,0:02:04.63,Default,,0000,0000,0000,,Kodak is the classical example of
Dialogue: 0,0:02:05.74,0:02:09.64,Default,,0000,0000,0000,,the photography industry being\Ndisrupted by the digital camera.
Dialogue: 0,0:02:09.64,0:02:11.76,Default,,0000,0000,0000,,And what we see here,
Dialogue: 0,0:02:11.76,0:02:13.62,Default,,0000,0000,0000,,what we see happening \Nwith the electric car
Dialogue: 0,0:02:13.62,0:02:15.90,Default,,0000,0000,0000,,is to some extent the same.
Dialogue: 0,0:02:15.90,0:02:17.84,Default,,0000,0000,0000,,We see cars becoming electric.
Dialogue: 0,0:02:17.84,0:02:19.83,Default,,0000,0000,0000,,It's becoming an electric appliance.
Dialogue: 0,0:02:19.83,0:02:22.88,Default,,0000,0000,0000,,And it follows a totally different course
Dialogue: 0,0:02:22.88,0:02:26.66,Default,,0000,0000,0000,,and experience curve than we are\Nused to from mechanical products
Dialogue: 0,0:02:26.66,0:02:29.62,Default,,0000,0000,0000,,like the current fossil fuel car\Nthat we know.
Dialogue: 0,0:02:30.04,0:02:32.74,Default,,0000,0000,0000,,And this electric appliance
Dialogue: 0,0:02:32.74,0:02:34.71,Default,,0000,0000,0000,,it just goes through a cost curve
Dialogue: 0,0:02:34.71,0:02:37.43,Default,,0000,0000,0000,,that you know from the LCD TV\Nthat you have at home,
Dialogue: 0,0:02:37.43,0:02:40.98,Default,,0000,0000,0000,,from the improvement that \Nwe've seen in digital cameras.
Dialogue: 0,0:02:40.98,0:02:44.70,Default,,0000,0000,0000,,Year on year these products get better\Nand better and better.
Dialogue: 0,0:02:44.70,0:02:46.50,Default,,0000,0000,0000,,And that is disruptive.
Dialogue: 0,0:02:46.50,0:02:47.92,Default,,0000,0000,0000,,That's highly disruptive.
Dialogue: 0,0:02:47.92,0:02:50.27,Default,,0000,0000,0000,,If you look at solar panels,
Dialogue: 0,0:02:50.27,0:02:52.37,Default,,0000,0000,0000,,more and more houses in the Netherlands,
Dialogue: 0,0:02:52.37,0:02:55.14,Default,,0000,0000,0000,,they are putting solar panels\Non their roofs.
Dialogue: 0,0:02:55.99,0:02:57.20,Default,,0000,0000,0000,,Why are they doing that?
Dialogue: 0,0:02:57.20,0:02:58.23,Default,,0000,0000,0000,,Well, because of this:
Dialogue: 0,0:02:58.23,0:03:01.30,Default,,0000,0000,0000,,this curve going down, down, down.
Dialogue: 0,0:03:01.49,0:03:04.40,Default,,0000,0000,0000,,Year on year improvements in solar cells
Dialogue: 0,0:03:04.40,0:03:05.53,Default,,0000,0000,0000,,are around 20%.
Dialogue: 0,0:03:05.53,0:03:09.32,Default,,0000,0000,0000,,20% per year to get cheaper, better, etc.
Dialogue: 0,0:03:09.32,0:03:10.34,Default,,0000,0000,0000,,And what that means,
Dialogue: 0,0:03:10.34,0:03:11.70,Default,,0000,0000,0000,,if you do that every year,
Dialogue: 0,0:03:11.70,0:03:14.98,Default,,0000,0000,0000,,at some point, you'll cross \Nthat line of grid parity.
Dialogue: 0,0:03:14.99,0:03:17.67,Default,,0000,0000,0000,,At some point, your energy\Nfrom the solar panels
Dialogue: 0,0:03:17.67,0:03:19.20,Default,,0000,0000,0000,,will become cheaper than
Dialogue: 0,0:03:19.20,0:03:21.30,Default,,0000,0000,0000,,the energy that you can buy\Nfrom the grid.
Dialogue: 0,0:03:22.06,0:03:23.76,Default,,0000,0000,0000,,And the same is happening with batteries.
Dialogue: 0,0:03:23.76,0:03:27.10,Default,,0000,0000,0000,,The batteries, that's the main cost\Ncomponent of our electric car,
Dialogue: 0,0:03:27.10,0:03:29.61,Default,,0000,0000,0000,,they're getting cheaper \Nand cheaper every day.
Dialogue: 0,0:03:30.73,0:03:33.09,Default,,0000,0000,0000,,We've seen the same from digital cameras.
Dialogue: 0,0:03:33.38,0:03:34.86,Default,,0000,0000,0000,,Digital cameras got better.
Dialogue: 0,0:03:34.86,0:03:38.36,Default,,0000,0000,0000,,They got more capacity of photos.
Dialogue: 0,0:03:38.36,0:03:40.04,Default,,0000,0000,0000,,They got more megapixels.
Dialogue: 0,0:03:40.04,0:03:43.78,Default,,0000,0000,0000,,In 10 years, the industry went\Nfrom 0 to 100% adoption.
Dialogue: 0,0:03:43.78,0:03:45.98,Default,,0000,0000,0000,,When the photographers didn't like
Dialogue: 0,0:03:45.98,0:03:47.44,Default,,0000,0000,0000,,the camera in the beginning,
Dialogue: 0,0:03:47.44,0:03:49.34,Default,,0000,0000,0000,,they now love it.
Dialogue: 0,0:03:49.34,0:03:52.16,Default,,0000,0000,0000,,And we see the same happening \Nwith electric cars.
Dialogue: 0,0:03:52.16,0:03:53.32,Default,,0000,0000,0000,,They will charge faster.
Dialogue: 0,0:03:53.32,0:03:54.82,Default,,0000,0000,0000,,They will have more range.
Dialogue: 0,0:03:56.28,0:04:00.28,Default,,0000,0000,0000,,And it's not as fast as the\Ndigital camera in development,
Dialogue: 0,0:04:00.28,0:04:01.98,Default,,0000,0000,0000,,but it will be around 20% per year.
Dialogue: 0,0:04:04.53,0:04:07.24,Default,,0000,0000,0000,,And I think, if we translate that \Nto the car industry,
Dialogue: 0,0:04:07.24,0:04:08.52,Default,,0000,0000,0000,,this is what we see happening:
Dialogue: 0,0:04:08.52,0:04:11.59,Default,,0000,0000,0000,,this was an extract of the Auto Bild,
Dialogue: 0,0:04:11.59,0:04:14.22,Default,,0000,0000,0000,,a German car magazine.
Dialogue: 0,0:04:14.22,0:04:16.79,Default,,0000,0000,0000,,It basically states the opinion,
Dialogue: 0,0:04:16.79,0:04:20.80,Default,,0000,0000,0000,,or let's say how the Germans thought\Nabout the introduction of the Tesla.
Dialogue: 0,0:04:22.18,0:04:22.98,Default,,0000,0000,0000,,Last month,
Dialogue: 0,0:04:24.90,0:04:29.50,Default,,0000,0000,0000,,Tesla sold 289 vehicles in the Netherlands
Dialogue: 0,0:04:29.50,0:04:31.23,Default,,0000,0000,0000,,of the type Model S.
Dialogue: 0,0:04:31.23,0:04:35.56,Default,,0000,0000,0000,,In that same month, \NBMW and Audi combined sold...
Dialogue: 0,0:04:36.16,0:04:40.21,Default,,0000,0000,0000,,244 Audi A6 and BMW 5 series.
Dialogue: 0,0:04:40.76,0:04:42.49,Default,,0000,0000,0000,,That's what I call disruption.
Dialogue: 0,0:04:42.68,0:04:46.20,Default,,0000,0000,0000,,In 1 or 2 years, you got \Na serious market share.
Dialogue: 0,0:04:46.20,0:04:49.38,Default,,0000,0000,0000,,It's already happening \Nin this luxury segment.
Dialogue: 0,0:04:52.83,0:04:54.21,Default,,0000,0000,0000,,Then besides price,
Dialogue: 0,0:04:54.21,0:04:54.91,Default,,0000,0000,0000,,what else,
Dialogue: 0,0:04:54.91,0:04:56.62,Default,,0000,0000,0000,,why would it be disruptive?
Dialogue: 0,0:04:58.01,0:05:00.34,Default,,0000,0000,0000,,An electric car, \Nyou can charge it at home.
Dialogue: 0,0:05:00.58,0:05:03.14,Default,,0000,0000,0000,,And at home, electricity is very cheap.
Dialogue: 0,0:05:03.76,0:05:07.00,Default,,0000,0000,0000,,You can basically put your car\Nin a wall socket.
Dialogue: 0,0:05:07.81,0:05:11.31,Default,,0000,0000,0000,,It's a huge incentive for people\Nto buy a car. Why?
Dialogue: 0,0:05:12.40,0:05:16.40,Default,,0000,0000,0000,,If you drive it for 2 Euros for 100 km,
Dialogue: 0,0:05:17.30,0:05:21.30,Default,,0000,0000,0000,,and you have your own parking space\Nfor your car near your home,
Dialogue: 0,0:05:21.96,0:05:23.38,Default,,0000,0000,0000,,that makes a lot of sense.
Dialogue: 0,0:05:23.38,0:05:26.70,Default,,0000,0000,0000,,You basically get a \N0 marginal cost product.
Dialogue: 0,0:05:26.70,0:05:30.10,Default,,0000,0000,0000,,So the whole cost perception of\Nthe product of an electric car
Dialogue: 0,0:05:30.10,0:05:33.29,Default,,0000,0000,0000,,will be totally different\Nthan a gasoline car.
Dialogue: 0,0:05:33.29,0:05:34.69,Default,,0000,0000,0000,,And that will be disruptive.
Dialogue: 0,0:05:38.07,0:05:40.23,Default,,0000,0000,0000,,This is what's gonna \Nhappen in the end.
Dialogue: 0,0:05:41.14,0:05:43.72,Default,,0000,0000,0000,,What we will see is \Nin the coming 10 to 15 years,
Dialogue: 0,0:05:43.72,0:05:45.82,Default,,0000,0000,0000,,we will see this market accelerate
Dialogue: 0,0:05:47.49,0:05:48.92,Default,,0000,0000,0000,,Today this market is growing
Dialogue: 0,0:05:48.92,0:05:50.81,Default,,0000,0000,0000,,at 50 or 100% per year.
Dialogue: 0,0:05:51.34,0:05:52.63,Default,,0000,0000,0000,,And that will accelerate.
Dialogue: 0,0:05:52.63,0:05:56.04,Default,,0000,0000,0000,,And it will go through the hockey stick\Nin the coming years.
Dialogue: 0,0:05:56.63,0:05:58.26,Default,,0000,0000,0000,,And that means that in the end,
Dialogue: 0,0:05:58.26,0:06:00.76,Default,,0000,0000,0000,,gasoline stations will be disrupted.
Dialogue: 0,0:06:01.90,0:06:05.54,Default,,0000,0000,0000,,The existing car brands \Nthat are sitting ducks,
Dialogue: 0,0:06:06.41,0:06:08.30,Default,,0000,0000,0000,,they will be disrupted as well.
Dialogue: 0,0:06:09.43,0:06:13.07,Default,,0000,0000,0000,,Only car brands that will\Nreally really step in,
Dialogue: 0,0:06:13.34,0:06:15.89,Default,,0000,0000,0000,,and today start their development,
Dialogue: 0,0:06:15.89,0:06:17.66,Default,,0000,0000,0000,,they will get there,
Dialogue: 0,0:06:17.66,0:06:19.33,Default,,0000,0000,0000,,they will be able to go along.
Dialogue: 0,0:06:19.83,0:06:21.27,Default,,0000,0000,0000,,Thank you very much.
Dialogue: 0,0:06:21.28,0:06:25.12,Default,,0000,0000,0000,,(Applause)