Crises make evident the need to have solid business models with pinpointed solutions as the foundation of a startup. Much is being written these days about how crises periods offer great opportunities. However, following previous traumatic periods such as the dot.com burst and the ‘08-’09 financial crash the companies who survived, and later thrived, were laser-focused on their value proposition. For each one that we know about for having succeeded, many, many more did not make it. Think about Airbnb; but how many remember Housetrip or Wimdu?(more…)
In 2002, Joan Magretta published a fascinating article in the Harvard Business Review (HBR) titled “Why Business Models Matter.”
For years prior, the talk of “business models” was considered sheer poppycock by people in the tech world, but 2002 was right when the internet bubble burst. Investors were keen to stay away from anything and everything that had to do with tech. It was time to discuss business models.
Magretta made an excellent observation; it was that “good business models begin with the insight into human motivations” – basically a foundational element of what we today call human-centered design.(more…)
Understanding machine learning today can seem daunting, and technology seems to be advancing at ever-increasing speeds. So what is machine learning? Well, it used to be that you had to program a computer to do certain things. However, due to the advances in digitization and cheap computing power, data scientists can feed computers large amounts of data and enable them to learn from the experience.
From Amazon’s product recommendations and Facebook’s ability to spot faces to Google’s self-driving car, more and more companies are turning to machine learning to improve processes and create new, better ways of doing business.(more…)