World’s poor = $13 trillion

C. K. Prahalad identifies the world’s poor (the “bottom of the pyramid”) as a mostly untapped market for companies, worth up to $13 trillion a year in revenues. In his words, “the real source of market promise is not the wealthy few in the developing world, or even the emerging middle-income consumers. It is the billions of aspiring poor who are joining the market economy for the first time.” In his TED talk, Dr. Prahalad warned against “learning disabilities” on the part of companies, leading to mistakes, such as mistaking current profits for leadership, and unwillingness to face up to capability gaps. He seems to be saying that the answer lies in democratizing technology, communication, and learning, such that everybody from the top to the bottom will know what’s going on.