Consumers lost ~$3.3B due to fraud in 2021. In addition to fraud, individual consumers often face predatory practices from large organization. In 2020, airlines made ~$2.8B from change and cancellation fees, and banks charged consumers $12.4B in overdraft fees. These fees are important revenue generators for institutions, but they often take advantage of consumers when they are most vulnerable.
Corporations, however, are not the only organizations that deploy predatory practices. Governments can be predatory through a variety of practices, including parking and speeding tickets. Non-governmental organizations like Homeowners’ Associations can…
Startup Spotlight #5
Last fall, OpenAI shocked the world when they released GPT-3. The demos made artificial intelligence feel much more immediate and tangible than ever before. The industry, however, has quietly been accelerating, and the potential applications are rapidly expanding.
Significant advances in natural language processing (NLP), like GPT-3, are leading to a wave of innovation and opportunities. Within nine months of their launch, GPT-3 has already seen over 300 applications leverage their API. Examples range from tools to develop marketing copy (Copy.ai) to developing fictional storylines (Fable Studio).
GPT-3, however, is just one of many NLP models, and…
Startup Spotlight #4
Some of the most complex problems in healthcare and technology might not actually be solvable on earth… but they may be solvable in space. Solving diseases, constructing artificial hearts, and developing pure electronics may all soon be done in pods orbiting the earth in space.
In 2020, $8.9B in capital was allocated to space companies. Not all investment, however, is focused on building products on earth to be sent to space. Some products can be built in space, so we can benefit from them on earth.
Originally published at https://jeffburke.substack.com.
Venture capitalists pride themselves on finding disruptive technologies, but are they willing to disrupt themselves? Two months ago, a large group of VCs funded a recurring revenue marketplace that has the potential to disrupt their entire model. Enter Pipe.com.
High-growth businesses typically leverage venture capital to scale rapidly. Seed, Angel, Series A, Series B, etc. The company achieves new milestones and valuations, until they land a massive exit (via IPO or acquisition) that allows for people to cash out and investors to add to their Twitter bios.
The system has worked. Over the past 30–40 years…
On January 13th, Anchorage received the first federal bank charter in US history from the Office of the Comptroller of the Currency (OCC). The adoption of cryptocurrency has been a point of debate for years, but with this move, the Federal government gave the largest stamp of approval to date.
Tesla broke the barrier by purchasing $1.5B in Bitcoin. It will soon be commonplace for large institutions to begin holding and leveraging digital assets. Crypto, however, can be a technical challenge for traditional institutions. The velocity of the space can be a challenge. …
Anybody with this basic tech stack could access an active community and set of resources to learn to program from anywhere in the world. All they need is a browser. No downloads.
Now, imagine if that user developed a useful app / bot, and instantly, they were able to deploy it, creating a monthly income.
This is the power of Repl.it. Any person in the world with a basic…
Exhibit 5: Marvel Universe Connections; Source
Exhibit 5 shows the complexity of the Marvel Universe films. While the image can be difficult to process, it immediately becomes apparent how connected the different storylines are. Recently, Disney announced even more Marvel Studios productions coming in 2021 and beyond. The Marvel Universe continues to lucratively expand, and it can be seen as a paradigm for the NBA.
I am excited to release an episode of the Banter that forever lives in infamy. As if my previous outing was not punishment enough, I became the locker room leper. Since joining The Boston Consulting Group, I always have teammates ask me why I left professional baseball. Well, beyond the fact that I was fired, do not look any further than this episode of the Banter.
5/24/17 Hi Everyone, Emergency Bullpen Banter! The glory days of Minor League Baseball are here! I have Scabies (allegedly). Allow me to explain. The Bed Bugs from Charleston seem to actually be Scabies from…
In part one, I outlined the challenges that organizations like the NBA face in engaging the newer, younger consumer. The complexities of the changing environment require a shift from a Top-Down Media Approach to a Bottom-Up Media Approach. In Part 2, I will add visual detail and a few high-level examples to show how this type of approach would take shape.
In Exhibit 3, we can visualize the spectrum of targeting, ranging from a blanket, mass-marketing national campaign to a hyper-targeted set of micro-campaigns. A shift from the left-hand side to the right-hand side increases the personalized engagement with fans…
5/21/17 Hi Everyone,
We just finished a 5:05pm game in Charleston, and we are headed back to Augusta. The travel has been super easy this month, so that has been great. Overall though, it has been a tough stretch for everyone! While I try to keep it all light-hearted and fun, I also try to make sure I keep it authentic, and in reality, it is not all roses. I apologize in advance if I am a downer.
After the off-day, we bussed down to Charleston for a four game series of night games. When we bus in the morning…
I write about emerging startups and growth marketing | Management consultant | Former professional athlete | Boston College Alum |