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jerryking : match-making   19

How to funnel capital to the American heartland
April 15, 2019 | Financial Times | by Bruce Katz.
* The Innovation Blind Spot, by Ross Baird.
* Ways must be found to rewire money flows in order to reverse the export of wealth
* A federal tax incentive intended to entice coastal capital into the heartland may end up helping to keep local capital local.

Over the past year, economically distressed communities across the US have been engaged in an intense discussion about mobilising private capital. Why? As mayors, governors, real estate developers, entrepreneurs and investors have learnt, buried in the 2017 Tax Cuts and Jobs Act was a provision that created a significant tax incentive to invest in low-income “opportunity zones” across the country......the law’s greatest effect, ironically, has been to unveil a treasure trove of wealth in communities throughout the nation. Some of the country’s largest investors are high-net-worth families in Kansas City, Missouri, and Philadelphia; insurance companies in Erie, Pennsylvania, and Milwaukee; universities in Birmingham, Alabama, and South Bend, Indiana; philanthropists in Cleveland and Detroit; and community foundations and pension funds in every state.

These pillars of wealth mostly invest their market-oriented equity capital outside their own communities, even though their own locales often possess globally significant research institutions, advanced industry companies, grand historic city centres and distinctive ecosystems of entrepreneurs. The wealth-export industry is not a natural phenomenon; it has been led and facilitated by a sophisticated network of wealth management companies, private equity firms, family offices and financial institutions that have narrow definitions of where and in what to invest.

The US, in other words, doesn’t have a capital problem; it has an organisational problem. So how can capital flows be rewired to reverse the export of wealth?

Three things stand out:

(1) Information matters. The opportunity zones incentive has encouraged US cities to create investment prospectuses to promote the competitive assets of their low-income communities and highlight projects that are investor-ready and promise competitive returns.

(2) norms and networks matter. The opportunity zone market will be enhanced by the creation of “capital stacks” that enable the financing of community products such as workforce housing, commercial real estate, small businesses (and minority-owned businesses in particular) and clean energy, to name just a few. Initial opportunity zone projects are already showing creative blends of public, private and civic capital that mix debt, subsidy and equity.

(3) institutions matter. Opportunity zones require cities to create and capitalise new institutions that can deploy capital at scale in sustained ways. Some models already exist. The Cincinnati Center City Development Corporation, backed by patient capital from Procter & Gamble, has driven the regeneration of the Over-the-Rhine neighbourhood during the past 15 years.

More institutional innovation, however, is needed. As Ross Baird, author of The Innovation Blind Spot, has argued, the US must create a new generation of community quarterbacks to provide budding entrepreneurs with business planning and mentoring, matching them with risk-tolerant equity. These efforts will succeed if they unleash the synergies that flow naturally from urban density. New institutions will not have to work alone, but hand-in-glove with the trusted financial firms that manage this locally-generated wealth.
books  capital_flows  cities  coastal_elites  community  economic_development  economically_disadvantaged  economies_of_scale  high_net_worth  howto  industrial_policies  industrial_midwest  industrial_zones  institutions  investors  match-making  midwest  municipalities  networks  network_density  P&G  PPP  packaging  place-based  private_equity  property_development  prospectuses  Red_States  rescue_investing  rust_belt  tax_codes  venture_capital 
april 2019 by jerryking
Bumble founder Whitney Wolfe on millennial matchmaking | Evernote Web
18 March / 19 March 2017 | FT| by Alice Fishburn.

. . . Half a year in tech-app time, it’s like a normal-world five years.” What’s the solution? “You just have to run faster than it does.’’
Wolfe has surfed an extraordinary sea-change in how we approach relationships. Our phones now allow us to identify potential life companions through location, ethnic origin or hatred of the same thing and reject them just as quickly. Such opportunities come with a healthy serving of ethical and personal dilemmas.....Bumble’s USP — “truly not a gimmick”, Wolfe stresses, and timely for a feminist age — is that the woman has all the power (while both sexes swipe to show interest, only she can start a conversation). Wolfe may be firmly on-brand but she laughs wickedly at the ambitions of many tech evangelists. “So many entrepreneurs approach me and say, ‘I want to start the next big thing’, and I say, ‘Well, what are you solving?’ And oftentimes they say, ‘Oh, I’m not sure. I want to start something big.’ ” Sigh. “You can never start something big without solving something small, right? And for me, that was not being allowed to text guys first.”.....What has all this time with the data taught her about humans? “You understand when people are the happiest, the most busy, the most detached, most involved.” Sunday nights and Mondays are the busiest times on the site: “I think that’s probably really telling because that’s usually people’s downtime, when they are relaxing or when they’re feeling bummed out . . . a little bit lonely.”
Our view on the idea of technology running our love lives unsurprisingly depends on our culture. One transatlantic dater tells me that, in the US, Bumble is strongly associated with empowered women. In the UK, some moan that it just caters to lazy men.
women  entrepreneur  Tinder  Austin  dating  mobile_applications  relationships  feminism  millennials  match-making  sexism  Silicon_Valley  accelerated_lifecycles  algorithms  gestures  online_dating  downtime 
march 2017 by jerryking
Review: The Rise of the ‘Matchmakers’ of the Digital Economy - The New York Times
By JONATHAN A. KNEE MAY 20, 2016
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books  digital_economy  platforms  book_reviews  network_effects  match-making  Jonathan_Knee 
may 2016 by jerryking
Startup blends algorithms and old-fashioned matchmaking - The Globe and Mail
EILENE ZIMMERMAN
The New York Times News Service
Published Thursday, Apr. 23 2015
dating  match-making 
april 2015 by jerryking
Steve Ballmer’s New Game - WSJ - WSJ
Nov. 2, 2014

What does machine-learning mean?

MS. LANGLEY: Do you see money to be made in technology? What is exciting you?

MR. BALLMER: All the money in tech is made, essentially, in five areas. Devices; Apple and Samsung are the two most profitable companies. No. 2 is selling to IT departments, enterprise software, another asset Microsoft has built up. The third is selling telecom subscriptions. Fourth is selling to marketing departments. Google and Facebook are only two companies that make significant money selling to marketing departments. Microsoft’s probably the third-largest. Last, but certainly not least, is mating buyers and sellers. What Amazon , Airbnb and Uber do. Creating these marketplaces and taking a fee.
Steve_Ballmer  Los_Angeles_Clippers  basketball  Microsoft  match-making  Amazon  Airbnb  Uber 
november 2014 by jerryking
The Art World’s High-Roller Specialist - WSJ - WSJ
Nov. 6, 2014 | WSJ | By KELLY CROW.

Ms. Xin is a leading player in the art business’s central game right now: a race to match a small number of $10 million-plus masterpieces with a small number of mega-collectors, who are increasingly coming from Asia.

Ms. Xin is one of the latest auction stars to emerge amid this high-stakes backdrop. Her profile rocketed after she helped her contemporary-art clients place bids or win half of Christie’s top 10 priciest works in May. Nearly 6 feet tall, she was easy to spot standing between colleagues in the saleroom’s phone banks, wielding three cellphones at a time and lobbing bids at a regular clip. By sale’s end, she helped her Chinese clients win as much as $236 million of art. François Curiel, a four-decade veteran of the firm, said he’s never seen one specialist account for that large a haul in a sale.

Ms. Xin’s quick ascent comes amid China’s expanding clout on the global art stage. Most specialists are art experts who build up a career doggedly over decades. Ms. Xin, however, never saw a work of art until she was 19. But since she joined the auction business nearly seven years ago, she has homed in on finding masterpieces—and collectors who could afford them.
art  art_advisory  auctions  China  Chinese  Christie's  collectibles  collectors  economic_clout  high_net_worth  match-making  Sotheby's 
november 2014 by jerryking
What Cars Did for Today's World, Data May Do for Tomorrow's - NYTimes.com
August 10, 2014 | NYT | Quentin Hardy.

General Electric plans to announce Monday that it has created a “data lake” method of analyzing sensor information from industrial machinery in places like railroads, airlines, hospitals and utilities. G.E. has been putting sensors on everything it can for a couple of years, and now it is out to read all that information quickly.

The company, working with an outfit called Pivotal, said that in the last three months it has looked at information from 3.4 million miles of flights by 24 airlines using G.E. jet engines. G.E. said it figured out things like possible defects 2,000 times as fast as it could before.....Databricks, that uses new kinds of software for fast data analysis on a rental basis. Databricks plugs into the one million-plus computer servers inside the global system of Amazon Web Services, and will soon work inside similar-size megacomputing systems from Google and Microsoft....If this growing ecosystem of digital collection, shipment and processing is the new version of cars and highways, what are the unexpected things, the suburbs and fast-food joints that grew from cars and roads?

In these early days, businesses like Uber and Airbnb look like challengers to taxi fleets and hotels. They do it without assets like cars and rooms, instead coordinating data streams about the location of people, cars, and bedrooms. G.E. makes engines, but increasingly it coordinates data about the performance of engines and the location of ground crews. Facebook uses sensor data like location information from smartphones
Quentin_Hardy  data  data_driven  AWS  asset-light  massive_data_sets  resource_allocation  match-making  platforms  resource_management  orchestration  ecosystems  GE  sensors  unexpected  unforeseen  Databricks  Uber  Airbnb  data_coordination  instrumentation_monitoring  efficiencies 
august 2014 by jerryking
Uber’s Real Challenge: Leveraging the Network Effect - NYTimes.com
JUNE 13, 2014
Continue reading the main story
Neil Irwin

The question for Uber as a business boils down to two words: network effects. That’s the concept in which users of a service benefit from the fact that everybody else uses the service as well. It isn’t much use being the only person to own a fax machine, or the only person to show up at a stock exchange. Things like these become more valuable the more widely they are embraced. Network effects are the key to the wild profitability of a firm like Microsoft; Windows and Office are hard to displace, even if a competitor offers a better, cheaper product, because Microsoft products are entrenched as an industry standard....The billion-dollar question is whether Uber’s model for offering transportation services has some of the same network effects as those of great information industry monopolies (Microsoft, Google), or is more like, say, the travel website business, a brutally competitive industry of middlemen.

Uber is itself a middleman, of course. On one side, it recruits drivers, who typically own or lease their cars. On the other side, it markets to consumers who may want a ride. Then it matches them up; the consumer orders a car, a driver accepts the request, the service is provided, and Uber charges the consumer’s credit card. It keeps a 20 percent commission for itself and pays the rest to the driver....The task facing Uber is not just to overcome the hurdles and make ride-sharing a multibillion dollar industry. It’s to try to entrench the advantages it has from being first: continually refining its offerings to have the best possible user experience, the best data analytics to ensure that people can get a car when they need one, and not to be greedy with regard to its commission, lest it be all the more inviting a target for rivals. It’s no easy job, but nobody said building a company worth $18 billion is.
Uber  network_effects  sharing_economy  middlemen  ride-sharing  platforms  first_movers  transportation  two-sided_markets  match-making 
june 2014 by jerryking
Max Levchin talks about data, sensors and the plan for his new startup(s) — Tech News and Analysis
Jan. 30, 2013 | GigaOm |By Om Malik.

“The world of real things is very inefficient: slack resources are abundant, so are the companies trying to rationalize their use. Über, AirBnB, Exec, GetAround, PostMates, ZipCar, Cherry, Housefed, Skyara, ToolSpinner, Snapgoods, Vayable, Swifto…it’s an explosion! What enabled this? Why now? It’s not like we suddenly have a larger surplus of black cars than ever before.

Examine the DNA of these businesses: resource availability and demand requests — highly analog, as this is about cars, drivers, and passengers — is captured at the edge, automatically where possible, then transmitted and stored, then processed centrally. Requests are queued at the smart center, and a marketplace/auction is used to allocate them, matches are made and feedback is given in real time.

A key revolutionary insight here is not that the market-based distribution of resources is a great idea — it is the digitalization of analog data, and its management in a centralized queue to create amazing new efficiencies.”
massive_data_sets  data  Max_Levchin  radical_ideas  sensors  start_ups  incubators  San_Francisco  sharing_economy  analog  efficiencies  meat_space  data_coordination  match-making  platforms  Om_Malik  resource_management  underutilization  resource_allocation  auctions  SMAC_stack  algorithms  digitalization 
february 2013 by jerryking
Jake Porway, Data Scientist Information, Facts, News, Photos -- National Geographic
Data scientist Jake Porway (Ph.D.) is a matchmaker. He sees social change organizations working to make the world a better place, collecting mountains of data, but lacking skills and resources to use that information to advance their mission. He sees data scientists with amazing skills and cutting-edge tools, eager to use their talent to accomplish something meaningful, yet cut off from channels that allow them to do so. He sees governments ready to make data open and available, but disconnected from people who need it. For Porway, it's a match waiting to happen and the reason he founded DataKind (formerly Data Without Borders). It connects nonprofits, NGOs and other data-rich social change organizations with data scientists willing to donate time and knowledge to solve social, environmental and community problems. Ultimately, he wants to build a globally connected network of dedicated experts who can be deployed at a moment's notice to tackle any big data science task worldwide
data_scientists  DataKind  data  match-making  haystacks  PhDs  open_data  nonprofit  NGOs  volunteering 
july 2012 by jerryking
Playing Matchmaker For Drivers and New Cars
NOVEMBER 2, 2011 | WSJ |By JOSEPH B. WHITE.

Idea for Brian Makse.

Taking a cue from romantic matchmaking services, several leading auto-shopping and advice websites, including Edmunds.com and KBB.com, are experimenting with online tools designed to help car shoppers choose a new car. Some of the most popular vehicles sold in the U.S. are the Ford F-series pickup, Toyota Camry and Honda Accord. But for people whose needs aren't met by any of those, the new online tools might be worth a try.
automobile  tools  match-making  competingonanalytics  data_driven 
november 2011 by jerryking
Why China Wants to Scoop Up Your Company - June 1, 2005
June 1, 2005 | Business 2.0 | By Paul Kaihla.

The prime targets? American brands and manufacturers, as well as distributors that peddle Chinese goods. "The Chinese want to cut out the middleman by buying him," says John Rogers, a Chicago lawyer and investment banker who last year formed the MidWest U.S.-China Association to play matchmaker. One manufacturer on the prowl is Chenghai Yongjia Enterprises, a Guangdong-based industrial group whose construction tools are sold at Home Depot. Last year the company enlisted Anita Tang, a Chicago consultant and China expert, to help it find a distributor. "They went into a Home Depot and nearly fainted," Tang recalls. "The tools were priced 10 times higher than what they were paid for them." Because prices tend to double every time goods change hands, the firm could fatten its margins dramatically by buying a middleman.
10x  China  Chinese  mergers_&_acquisitions  M&A  manufacturers  branding  brands  middlemen  match-making  U.S. 
october 2011 by jerryking
smSmallBiz.com | Making the Most of Online Matchmaking for Small Firms
August 6, 2007 | Wall Street Journal | By Simona Covel.
There are 99 companies looking for funding for every investor. The best
postings are short ads that are really to the point. Four sentences that
are well-composed will beat four paragraphs every time. It should say:
"This is the industry we're serving. This is the problem we're solving.
And this is how we make money doing it."

A bad posting doesn't give any indication to the investor why they would
want to invest in that company.
small_business  serial_entrepreneur  match-making  online  fundraising  investors  investing  Simona_Covel  angels 
october 2010 by jerryking
Switch to the low-income customer
14-Nov-2005 | Financial Times | By Jeremy Grant. "When AG
Lafley came in [in 2000] and said, 'We're going to serve the world's
consumers', that led us to say, 'We don't have the product strategy, the
cost structure, to be effective in serving lower income consumers'.
"What's happened in the last five years has been one of the most
dramatic transformations I've seen in my career. We now have all of our
functions focused on that," says Mr Daley. P&G, the world's largest
consumer goods company, devotes about 30 %of its $1.9bn in annual
research and development spending to low-income markets, a 50 % increase
from 5 yrs. ago. Consumer research: spend time in consumers' homes to
gain insights into daily habits; Cost innovation: use proprietary
technology to design low-income products; Innovation productivity: use
"matchmakers" such as InnoCentive; Manufacturing efficiency: cut mfg.
costs by developing a network of suppliers in China, Brazil, Vietnam and
India.
P&G  BRIC  market_research  consumer_research  primary_field_research  customer_insights  innovation  Bottom_of_the_Pyramid  A.G._Lafley  InnoCentive  supply_chains  China  Brazil  Vietnam  India  observations  insights  cost-structure  jugaad  proprietary  behavioural  cost-cutting  match-making  CPG  low-income 
december 2009 by jerryking

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