by Thane Ritchie | May 8, 2017 | Innovation, Technology, Uncategorized
Within just 3 years Uber devastated the L.A. taxi industry. The smartphone based company has gone on to affect many other markets. Even the English language has been changed by the Uber app. Start-ups everywhere pitch themselves as the Uber of “x” product or “x” service. Uber has become a noun signifying a type of a market disruptor. Next flying cars. The LA Times reports how thanks to Uber the number of taxi rides has fallen by 30%. Taxi Commission President Eric Spiegelman reports that now taxis take in somewhere around $400-$500 a week apposed to $800 (in 2012). In under 4 years Uber has revolutionized the transportation industry, beginning as a small start-up and becoming a large-scale company valued at over 60 billion. For this young and successful company, ‘sky’s the limit’. Well, not exactly, in 2016 the company announced their desire to pursue project “Elevate,” flying cars. While the statement certainly raised some eyebrows. It was met with many reservations. How would the FAA regulate the semi-private pilots? How would Uber ensure safety? In addition, Uber’s new strategy counted on the invention of a cheap and lightweight plane. The plan seemed implausible. It was not until Tuesday, April 25th, before many in the technology industry world began to take the proposal seriously. Uber hosted their 3 day Elevate Summit from the 25th – 27th to provide information and garner support for the venture. “It’s push a button and get a flight” This is the vision Uber’s Chief Product Officer looks forward to. The company hopes to launch its first Vertical Take Off and Land (VTOL) airplane in 2020....
by Thane Ritchie | Jul 11, 2016 | Innovation, Investment, Technology
On June 21st Elon Musk’s renowned electric car company, Tesla, made known that it intended to acquire SolarCity in an all-stock transaction. Taking on the burden of another company presents itself as an obscure deal, especially when Tesla seemingly has their own operational issues. Musk and Tesla have described this proposal as a logical combination of two companies with similar customers, cultures, and goals.1http://www.sfchronicle.com/business/article/Tesla-s-SolarCity-deal-Is-Musk-taking-on-too-8349040.php The vision is innovative: but from an economic and investing standpoint, this deal may seem more like a simple bailout of SolarCity (that will hurt Tesla stockholders) rather than a merge of two companies to meet the world’s future energy needs.2http://www.forbes.com/sites/greatspeculations/2016/06/22/elon-musks-solarcity-bailout-is-painful-for-tesla-shareholders/#780744cc3aa0 Pros of following through with the deal: Tesla states that “We would be the world’s only vertically integrated energy company offering end-to-end clean energy products to our customers.”3https://www.teslamotors.com/blog/tesla-makes-offer-to-acquire-solarcity In theory, the deal is very innovative and boasts plenty of dynamic potential. Integrating these companies may contain worries and uncertainty for the financial and business side of Tesla, but the deal holds a lot of potential as a model for the future of innovative companies and renewable energy. A good amount of electric car owners, that may be concerned over global warming or interested in breaking the grip of fossil fuels, have or want to invest in solar energy products. Musk highlighted this in pitching the Solar City Deal. Merging the companies makes the products that Tesla and SolarCity have to offer more available and relevant to each other. Cons of following through with this deal: Critics and skeptics alike are noting that the business of producing and selling cars is very different from the business...
by Thane Ritchie | Jun 30, 2016 | Misc, Technology
Britain recently held a referendum leading them to the notable decision to leave the European Union. This ‘Brexit’ leaves many questions unanswered, including questions on how disbandment from the EU might affect the technology hub that is the city of London. Recent statistics provide us with a picture of what the answers to these questions may look like. #1 ranking. The European Digital City Index ranked London as number 1 in all of Europe.1European Digital Forum, and Nesta. “{{ Metatags.fb_title }}.” European Digital City Index 2015. European Commission, 2015. Web. 01 July 2016. This ranking is based on how well a city supports digital entrepreneurship. Under research put out by Bloomberg Philanthropies London is considered the FinTech capital of the world.2Mandel, Michael, Dr., and Jonathan Liebenau, Dr. “London: Digital City on the Rise.” Mikebloomberg.com. Bloomberg Philanthropies, June 2014. Web. 1 July 2016. London’s position as a technology hub cannot be overrated. More people are employed in London’s tech sector than in any other city’s tech sector in the world.3European Digital Forum, and Nesta. “{{ Metatags.fb_title }}.” European Digital City Index 2015. European Commission, 2015. Web. 01 July 2016. London’s booming tech sector causes the city to quite possibly be Europe’s most influential city in the realm of technology. 1.46 Million People were employed by digital companies according to a 2015 study.4Tech City. “Welcome to Tech Nation 2016: Transforming UK Industries.” Tech City UK. Nesta, 2016. Web. 1 July 2016. This growing industry boasts the city of London to be the headquarters for 20% of the United Kingdom’s tech companies.5Tech City. “For Investors – Tech City UK.” Tech City UK. Nesta, 2016. Web. 01 July 2016. The technology sector in...
