Categories
Social Marketing

Facebook Bringing Portal Video Chat Devices To Workplaces

 

Facebook is bringing its Portal devices to the workplace for people to make voice and video calls. Workplace by Facebook delivered a number of upgrades as part of its Flow by Workplace conference being held today in Menlo Park, including the fact that Workplace now has 3 million paid users, up from 2 million in February. The 8-inch Portal Mini and 10-inch redesigned Portal smart displaycome out next week. Portal devices will be able to speak with up to 50 participants in each video call, a company spokesperson told VentureBeat in an email.

As the split screen image above appears to illustrate, Workplace video calls will supply a shared work space, perhaps drawing on the same tech that will allow people to watch videos together with the Portal TV device due out next month. At launch, Workplace voice and video calls will not work with Portal TV.

A Facebook spokesperson declined to share additional details on how dozens of SaaS apps and integrations will work with Workplace Portal video calls.

Workplace video calls will work with a dedicated Portal app called Workplace by Facebook and will soon support Facebook Live, a company spokesperson told VentureBeat in an email.

The Workplace-Portal offering appears to be Facebook’s first strictly enterprise pairing with first party hardware, and may help Workplace compete with Microsoft Teams, which currently offers AI-powered video call perks like automatic captioning and background blur.

The move also signals that Facebook could open up Portal for WhatsApp Business in the future, though the device currently has no WhatsApp Business specific features.

Portal devices making Workplace video calls can use Smart Camera to automatically frame video for up to 10 people and Smart Sound to automatically enhance volume to ensure a video subject is heard even when standing at a distance from the device.

Workplace is also introducing:

  • Automatic video captioning for videos posted in the Workplace News Feed that functions much like Facebook’s News Feed. Live captions will initially be available in the language of the speaker so long as they speak English, Spanish, Portuguese, French, Arabic, Vietnamese, Italian, German, Turkish, Russian, Thai, Urdu, or Malaysian.
  • Badges for rewarding employees for reaching milestones like community builder, expert, or mentor.
  • Learning posts, a way for managers to highlight content that might be good for best practices, then share them with new hires, as well as thanks posts for acknowledging employee achievements.

There’s also Insights, an analytics platform that scores Workplace to measure engagement with posts, using sentiment analysis to label each post as positive, negative, or neutral. Sentiment is predicted in part based on comments and reactions to posts.

Facebook is bringing Portal video chat devices to the workplace [Venture Beat]

Categories
Online Business

AirBnB Going Public Next Year

Airbnb has said that it will have its initial public offering in 2020.

The company is one of the last of the big unicorn herd that grew up roughly a decade ago (a herd that includes Uber, Lyft, The We Company and Postmates) to declare its public market intentions.

Yesterday evening the company announced it had hit over $1 billion in revenue for the second quarter 2019. It’s the second time in the company’s history that it pulled in more than $1 billion, according to the statement.

Airbnb also said that through September 15, 2019 users who list their homes and rooms on the company’s marketplace have made more than $80 billion since the company’s launch. The supplemental income for underpaid teachers alone clocks in at $160 million, and roughly 51% of people surveyed by the company said hosting has helped them afford their home.

The company also said that Airbnb’s housing stock now includes 7 million listings in more than 100,000 cities around the world. Airbnb says that over 1,000 cities have more than 1,000 listings — eight years ago, that figure was only 12.

Airbnb is also pulling in more money from its tourism business, with more than 40,000 tours and “experiences” booked in over 1,000 cities.

All of this travel has led to over $100 billion in economic impact across 30 countries, the company said.

This growth hasn’t come without controversy, and Airbnb’s success will depend on its ability to continue to thread the needle between government regulation over the company’s impact on housing prices and the creation of vacant apartments and homes that are only investment properties that increase Airbnb’s housing stock.

The company’s imminent public offering is good news for investors like Andreessen Horowitz, Manhattan Venture Partners, Sequoia Capital, TCV, Firstmark and Altimeter Capital, which have collectively invested roughly $4.4 billion into the company, according to Crunchbase.

Airbnb says it will go public next year [Tech Crunch]

 

Categories
Entrepreneurs Entrepreneurship

Entrepreneur First

Entrepreneur First (EF), the London-headquartered “talent investor” that recruits and backs individuals pre-team and pre-idea to enable them to found startups, has announced its plans to expand to Canada.

It marks the first time EF has entered North America. Along with London, EF currently operates in Berlin, Paris, Singapore, Hong Kong and Bangalore.

The new Canadian outpost, due to launch in early 2020, will be in Toronto and follows EF’s $115 million first closing of a new fund in February.

At the time of the fund announcement, the talent investor/company builder said it would use the capital to continue scaling globally — specifically, enabling it to back more than 2,200 individuals who join its various programs over the next three years.

This, we were told, should amount to around 300-plus venture-backed companies being created, three times the number of startups EF has helped create since being founded by McKinsey colleagues Matt Clifford and Alice Bentinck all the way back in 2011. Clearly, setting up shop in Toronto is part of the plan to achieve this.

Often — mistakingly — described as an accelerator, EF stands out from the many other startup programmes because of the way it backs individuals “pre-team, pre-idea.” This means that participants typically find their co-founder and found their respective companies on the programme, and that these startup may never have seen the light of day without EF.

It’s a new type of venture model that appears to be working so far — measured both in terms of exits and follow-on funding — although question marks remain with regards to how scalable it can be, given that what works in one city and ecosystem with one set of EF staff may not be entirely replicable in another. Or, as one VC put it to me, “there’s only one Matt and Alice.”

With that said, others, such as Greylock partner and co-founder of LinkedIn Reid Hoffman, are convinced EF can scale. Greylock is an investor in EF and Hoffman previously told TechCrunch he can see there being between 20-50 cities “where Entrepreneur First is integral to creating a set of interesting tech companies in those areas.”

Cue a statement from Matt Clifford: “By launching a programme in a third continent, we’re a step closer to achieving our goal of giving the world’s most ambitious individuals the tools to build a company wherever they happen to be… Toronto is one of the fastest growing tech ecosystems in North America in terms of capital and talent, and the city represents a great opportunity for EF to encourage the next generation of ambitious founders.”

Entrepreneur First, the ‘talent investor,’ to launch in Toronto, Canada early next year [Tech Crunch]

Categories
Human Resource Teamwork & Leadership

The Challenge Of Collaboration Today

Diminishing trust in all our institutions may well be the defining feature of this decade. With each new survey, we see dwindling faith in politics, business, charities and even our neighbours.

Social capital, the once-lauded holy grail of community, is crumbling and being replaced by suspicion, hubris and barefaced lies. The collective shrug that greets ‘yet another problem’ such as climate change, growing inequality, refugees, energy policy or failing infrastructure seems to suggest that many people have simply given up.

All of these complex issues represent multiple competing perspectives. If politics is the art of solving problems, then something is seriously wrong with our problem-solving processes.

However, rather than processes, it may be the clashing of values that has reduced our tolerance for engaging alternative perspectives. Too often, in the rush to find solutions, collaboration between sectors is reduced to passive ‘consultative’ processes, which seem designed to produce opposition and conflict rather than confront underlying challenges. At worst, groups recklessly pursue competing ‘agendas’, with the usual suspects plodding through stale debates in an attempt to coerce, intimidate, influence or otherwise convince their way to a solution.

Surely bringing together the brightest minds from different sectors to contribute their best can only lead to progress? And yet, concealed in this simple intention lies a complex landscape of competing values and worldviews, where we are often not speaking the same language, even when using the same words.

On the surface are pragmatic conversations about solutions, progress, creativity and innovation. Underneath are dynamics that languish undiscussed — competing and conflicting values, protectiveness of worldviews and identity, power struggles and fear. In that terrain, one sector or group claiming it has a better answer than another is a sure path to disaster. Whenever the pillars of our worldviews are challenged, basic tribalism leads to defensiveness and mistrust. Suddenly, goodwill can all fall apart.

Cross-sectoral leadership is the art of reaching across this tribalism to engage competing values and ‘learn’ our way to solutions.

At its essence is adapting to new bewildering environments and challenges we have not previously encountered. Effective leadership clarifies conflicting values by creating spaces to ask challenging questions rather than having answers.

Effort and energy should be focussed on key issues, instead of being centralised around individuals and authorities, to create a joint ‘learning dynamic’. This reframes issues away from why things aren’t working (being the sum of our excuses) towards progress (becoming the sum of our potential). It moves from a reactive siege mentality to the freedom of discovery and exploration.

Cross-sectoral leadership also liberates us from self-interest and the constant chorus of: ‘What’s in it for me and my organisation?’ This preoccupation with self-interest has emerged from a pervasive competitive mindset which has rippled through communities, overwhelming the potential for sectors to work collaboratively. Cross-sectoral leadership shifts the spotlight away from self-interest to instead ask: ‘How do we build community?’

Without waiting for permission, our questioning becomes the catalyst to understanding why, what, who and how.

Why

Developing a purpose focused on not just solving problems but increasing our problem-solving capacity. Understanding ‘shared dilemmas’ and decision-making as shared learnings where explicit disagreement is more important than implicit suspicion.

Ask whether there is a shared understanding of the issues. What is at stake, what is working, what needs to change or is missing?

What

Distinguishing between technical skills-based issues and values-based challenges. Being realistic about contradictions — both the actions or inactions that contribute to perpetuating the problem.

Ask what values are more important than making progress?

Who

Valuing diversity in partners — those who oppose you have viewpoints which are just as important as those who support you. Show a genuine interest in the dissident voices and what you can learn from them.

Ask who benefits from the status quo and who would experience a loss as a result of any change?

How

Focusing on questions which engage conflicting values and underlying assumptions, rather than obsessing with competing opinions or external solutions.

Ask who has to do what to make progress? What is worth trying that might have the greatest impact? What triggers people to action? How to respond when other issues start to distract from the main challenge?

Shifting the narrative 

The cross-sector leadership challenge is to resist rushing to technical solutions and instead approach diagnosis from a new angle — to reframe challenges in ways that no longer seem intractable or inevitable but instead are open to enquiry and learning.

We must not perpetuate the assumption that change occurs through the political or marketing skills of attracting attention as a substitute to confronting underlying root causes. Sometimes the leadership work is external, reaching out to others. At other times it is internal, looking at where our own practices impede progress and where being overly protective creates silos.

Critically, the question shifts from a competitive ‘who wins?’ to a collaborative ‘how do we work together to create new learnings and overcome obstacles?’ It is not that we lack capacity for these conversations, but rather sometimes lack the imagination to transcend the competitive dynamics.

Cross-sector leadership is a continuing process of creating these conversations — raising issues, questioning values, challenging behaviours and constantly probing where the system is working and not working.

Progressively, the need to form deeper relationships and to better understand perspectives becomes essential. We need to be sensitive to listening to opponents and understanding their concerns. We need to be keenly aware of the key values which mobilise people and drive agents of change. In taking action, we need to be alert for unintended consequences and be ready to make mid-course adjustments as necessary. We have to be open to learning and criticism.

Throughout this journey, leadership becomes a beacon for building trust, resilience and innovation.

Confronting The Challenge Of Collaboration In A World Obsessed With Being In Opposition [Smart Company]

Categories
Business Trends Technology

How Blockchain Is Changing Commercial Real Estate

The future of dealmaking, specifically in the commercial real estate market, is in blockchain technology, says Inveniam Capital Partners’ Patrick O’Meara.

“It’s kind of like when you maintain your house so that it’s ready to be sold any day of the week,” O’Meara says. “The value is not necessarily that you’re going to sell it, but that you’re capable of selling it and socializing that data. Blockchain allows you to reprice assets on a weekly, monthly or quarterly basis using agreed-upon procedures and test it against other empiric trades of assets that might be happening globally.”

Blockchain is most widely known as the means by which cryptocurrencies such as bitcoin can function. It’s a digital, decentralized and public ledger for recording transactions. It’s also very secure, giving it countless potential applications beyond just bitcoin.

Enter the commercial real estate market. If commercial real estate properties are accessible through blockchain, O’Meara says, key data points about a parcel would become available to anyone with access to the internet.

“People complain about Google and Facebook knowing everything about us, but we get ads that are catered literally just for us,” says O’Meara, who has spent more than 20 years studying the capital market and structuring and executing M&A transactions. Inveniam has offices in Northville and New York. “That’s eventually going to happen with real estate.”

Market transformation

One common characteristic of real estate investing is that it typically has only been available to those with large amounts of assets and the right connections, but that has the potential to change in a big way through blockchain, according to a report published last week by NuWire Investor.

“Real estate investing networks will start using tokenization to sell partial investments in raw land, single-family rental properties, multifamily buildings and even commercial properties,” the report states. “As a result, individuals won’t need hundreds of thousands of dollars to add real estate to their portfolios. For a few thousand dollars — or perhaps even a few hundred — anyone can get started. Tokenization will essentially transform the world of private real estate into a P2P equity trading exchange with coins that are securely swapped without the need for any sort of intermediary.”

This could create an influx of real estate investment dollars into smaller markets where it wouldn’t otherwise be likely to go, O’Meara says.

“It’s adding a level of trust to data so that global players can move into more markets more efficiently,” O’Meara says. “MetLife used to only buy the biggest of the big deals. And you have these smaller firms that were working on these Tier 2 or Tier 3 automotive suppliers that may only have $50 million or $70 million in revenue. It’s a really nice little business, but their access to capital was much lower. The more data that’s there, the more these smaller companies can compare themselves to other data sets and onboard themselves to the new digital global economy.”

Subjective analysis will still be critical

Yet to be determined is the impact that blockchain would have on the investment bankers and real estate brokers who traditionally have done much of the legwork required to facilitate client transactions.

“They are going to have to recondition themselves and add additional value if they want to continue to be used,” O’Meara says. “The advantage with blockchain is you’re not going to be able to just collect basic data. You’re going to be able to collect all the data. Environmental, energy utilization, key fob data, foot traffic, occupancy certificates. Every one of those individual pieces of data is going to be able to be notarized, validated and indexed so it’s fully searchable.”

While the access to data could increase exponentially, investors and dealmakers are still likely to find great value in experienced, knowledgeable advisers who can use that data to better inform their strategic analysis of a particular opportunity.

“There are people who add great value because of their expertise or their work in structuring or putting a deal together and we’re still going to need that,” O’Meara says. “To do the quantitative, you need to have qualitative data sets because not everything is empiric. Is it a good management team or a bad management team? Does the food taste good at this restaurant or does it not taste good? Are these homes ugly or is this what the market wants? These qualitative components will continue to be important.”

Time will tell how quickly the industry shifts and incorporates technologies like blockchain into its day-to-day functions. O’Meara is confident it will happen.

“If you’re not adding value, the function that you just have a Rolodex to support someone, that’s going to go away in three to seven years,” he says.