March 2024
CATCHING THE WAVE
A HORIZON SCAN – WHERE RISK AND OPPORTUNITIES RESIDE
“People often say motivation doesn’t last. Well, neither does bathing. That’s why we recommend you do it daily” – Zig Ziglar.
AUTUMN & WINTER FREE WEBINARS
March 28th –4:00 PM Start 5:30 Finish
#4 - Mastering Data to Tell Stories
The Weave’s James Cracknell and Matt Bell-Watson Founder of Priestley, a renowned insight-led digital marketing consultancy known for its data-driven approach to driving demand for businesses throughout the buyer journey. The 90-minute webinar will focus on how we communicate something through the power of visualising our data. The aim is to take the fear out of data – and provide the attendees with solid foundations around storytelling through data.? We are always pressured to make explanations as clear as possible on our websites, blog posts, and marketing collateral; this webinar will remove those frustrations. Join James Cracknell and Matt Bell-Watson on an insightful journey towards clarity. Book here - it is Free to attend
Interwoven has six episodes with a growing audience and two ways (YouTube/Audio) to consume.
Let’s refresh ourselves on who we have talked to over the last few months.
Episode #1 – We covered the iTeams event at the University of Essex. Also, we managed to grab a sit-down with Nigel Richardson?from 'Secret Hamper' and singer?Tara Wilcox-Leech?from 'The Wandering Hearts'. To add to our fandom for this band, here is a link to their latest single, River to Cry .?
Episode #2 – Joining us for an intimate chat were guests?Sarah?McKee-Harris , cofounder of Kingswood Group, an amazing HR organisation working across the region and?lisa?ansell , of Sales Geek. This fantastic network operates nationwide, with Lisa leading the charge here. Some amazing advice and awesome insights were gleaned.
Episode #3 – An episode centred on sustainability, we were honoured to talk about all things circular and regenerative with some top names. We were captivated by the stories from guest speakers Tom West of RentMy , blown away as we discussed sustainability with a guru, prolific author, consultant and alumnus of the University of Essex, the person who created the Triple Bottom Line, Mr John Elkington of Volans. Not to be outshadowed by the award-winning and passionate fast-fashion adversary Linda Blanchette of Consciously Clothed . This episode offers an eye-opening perspective on embracing community, sustainability, and the endless possibilities that arise when we come together.
Episode #4 – We were delighted to talk with three elegant and adventurous entrepreneurs, Dom Tyler of Junari and Recycle, two businesses working in the region to improve customer experiences and solve the Information Technology Asset Disposal conundrum. Neil Chamroo is a university-based entrepreneur tackling knife crime with his mentoring and youth empowerment initiatives of Talk Less Do More (TLDM Ltd). Finally, I had a wonderful conversation with Temini Kasumu of Eiia, a Women’s Wellness enterprise creating a buzz around sustainable fibres for women’s hygiene products.
Episode #5 - In this episode of Interwoven, host James Cracknell interviews Rachael Richards , the founder and CEO of Uniform 7 and the Smart Project; Sandrine?Singleton-Perrin , a sophrologist, who shares her expertise in promoting physical, emotional, and mental well-being through sophrology. Additionally,?Leah?Holroyd ?discusses her journey with White Bicycle , a company focused on positively impacting people's lives through education and training.?
Episode #6 - We traversed the entrepreneurial landscape with insightful conversations featuring Ansal Trafford of Creative Insights and the art of storytelling; Clare Gibson of Stage Frights, co-founder of an adventurous regional gaming company, and our spotlight guest, Mat Parkins and his passionate approach to business development, technologies including AI. What a journey he has been on – and you will love the story and resonate with the challenges.
I hope this gives you a flavour of the depth of our region’s entrepreneurial talent pool and the aims of The Weave community in shining a light on it. If you want to get involved, co-host an interview, share your story, and let us shine a light on you. Then, please get in touch with [email protected] —Subject Interwoven.
Sponsorship Offer – We are looking for sponsors to help us grow the impact of the podcast whilst giving sponsors a special Weave boost. Feature on our sponsor page, get spotlighted on the Interwoven podcast and get front-row visibility at any of our events. If you are interested in our sponsorship package, please get in touch with us at [email protected] – Subject Sponsorship.
TRENDS
A monthly horizon scan as we look around at what’s being talked about Nationally and Globally. We identify potential threats and opportunities that should appear on all our radars.
Headline of the Month
Authors – Acton, M, Campbell, P - Financial Times 28th Feb 24
Despite being applauded by Elon Musk on X, Apple’s decision to stop and pull their billion-dollar investment concerns the industry. It could indicate a lack of true innovation in EVs. In an industry that appears to be infatuated with design over substance, the next generation of EVs are exciting, but are they the future? Technology has helped the battery industry develop rapidly, feeding a newfound demand for cars/vans and SUVs, all with the EV tag. The infrastructure still lags, and the ambition to see charging available everywhere is an ambition that could be achieved through partnerships like the one we reported in the last newsletter between Openreach and the government. Changing combustion for electrification is not as radical as it sounds – what is radical is envisioning a new order of EVs everywhere.
Tim Cook’s Apple was interested in a different vision—their ambitions, code-named Project Titan, were for a fully autonomous vehicle with a supportive ecosystem. We are currently seeing, bar Tesla and a few smaller competitors, the traditional car industry replicating much of the approach and ambitions of what it did for combustion but with an electric motor. ?
The political will to see the EV industry become the dominant force to increase decarbonisation will do little to relieve the congestion on our roads, make them safer, and ultimately accommodate a new relationship with personal travel. Autonomy could have sparked a revolution in efficiency, with smart travel removing congestion and lowering accidents. This has probably been put on hold for many years since the futurists’ view of autonomous travel fails to match the previous hype.
This about-face comes at a bad time for Apple—revenues have plateaued, the PR machine is stalling, and the valuations look stretched. The EU just fined them € 1.8 billion for music streaming anti-competition practices, and the mighty Sage of Omaha, Warren Buffet, has trimmed his holding. The share price has already discounted much of the bad news but still looks vulnerable.
Why it matters, and what can we learn?
For any business, failed innovations are capital lost. The potential pain this involves has a knock-on impact on the innovative capacity within that organisation and that industry.
The numbers are huge – but so is Apple, so we need to contextualise the value. If Apple wrote off $2 billion in the pursuit of the project, this would be 0.5% of its 2023 revenues, or if you had a turnover of ￡2.5 million, that would be ￡13k, you would have written off, not exactly nothing but certainly recoverable. What they have learned (all that IP) they are probably leveraging for the next project into AI as they appear to be behind the curve, which may not be a bad thing. It is though evidence that a corporate, which is protective of margins and responsive to shareholder pressure, is often at odds over the pursuit of ‘long-shots’. Once an organisation reaches a critical point, it cannot afford to innovate like a startup – all it can do is watch the startups pursue the ‘leap of faith’ and buy them when they succeed. Innovation loses while traditional invention edges forward.
I applaud Apple for the move, as they seem to have made a rational decision. They still love the problem, but it is not necessarily the solution. The EV industry still needs to improve in radicalism, and despite some smart-looking vehicles emerging (the new VW Bus looks a stunner ), there still seems to be a lack of vision for the world without combustibles.
POLITICAL TRENDS
EUROPE IS IN A CURFUFFEL OVER MACRON’S STAND AGAINST PUTIN, WHILE HERE IN THE UK, THE POLITICAL ELITE CAN ONLY APOLOGISE FOR GEORGE GALLOWAY.
Image: The Economist (https://www.economist.com/briefing/2024/02/18/can-europe-defend-itself-without-america )
The last month has shone a spotlight on a war of words between Macron and Scholz over the deployment of European soldiers on Ukrainian soil. Macron favours the move, while Germany is against any NATO land-based activity. In the meantime, with a heavy heart, it looks more and more like Ukraine is being backed into a corner. Frozen Russian assets, billions of them, may be liberated to pay for a war machine, but the campaign looks to be stalling. All of this bodes badly for food prices going forward. If Russia seizes control, it could annex European wheat supplies as a punishment for supporting Ukraine, selling instead to China and India.? The Economist ran a piece on the 18th?of Feb asking a very relevant question – Can Europe Defend Itself without America? After the death of Alexei Navalny, last month’s questions surrounding NATO spending seem even more appropriate. With the rising tensions, what was a 2% peace dividend now might have to increase to at least 3% of GDP. With Sweden’s succession to NATO, those requiring protection have grown, and so has the contribution. 209,000 UK jobs depend upon defence; it appears to be another bottomless pit, too contentious to be openly discussed in terms of productivity and too well entrenched to be reimagined in a streamlined form. This places a greater strain on UK finances and ultimately requires significant growth to fund or cutbacks in other areas.
Budget
In the UK, the Spring budget looked more like a visit to an empty sweetshop, damaging the political ambitions of the incumbent government even more. We saw a stealth tax on pensioners and a cookie-cutter approach to National Insurance, adding up to a damp squib. The continued selling of gilts will drive up long-term rates, incentivising pension funds to take on more diversified portfolios into equities. This investment switch may add to the startup coffers. Still, portfolio managers, who are more at ease analysing the industry's cash cows, may need help translating this into betting correctly on innovation. On that note, the backtracking over the threshold for a defined serious investor was kept at ￡100k income rather than changing to ￡170k – pressure and lobbying delivered.
US Politics
In the US, Trump outshines Biden and continues to win large over Nikki Haley, who eventually withdraws. The latest news is that Trump v Biden is now assured this November (subject to any untoward events). Super Tuesday saw California and Texas go Trump’s way. Biden and the Democrats lag the Republicans in the polls, so a Trump second term on current form looks possible but certainly NOT definite. According to the, the election battle may be upended with 12% of the voters undecided, a mixed bag of independents and two candidates plagued by age concerns. If Trump does secure a second term, geopolitical tensions will remain changeable and messy. Still, as the US returns to the Make America Great Again (MAGA) model, it can only mean more inward-looking, isolationist, populist politics, destabilising for many.? That is why we need greater transparency, better accountability and strong leadership.
SOCIAL TRENDS – Public opinions and social trends reports for Feb 2024
As our waistline grows, so does the investment in slimming drugs. One person’s goose is another’s poison, as the diet industry reels from the shock.
The cause and effects when one industry garners such interest and investments are explored in this Economist article, “The battle over the trillion-dollar weight-loss bonanza”. Logically, a trillion-dollar investment like this that could counter global obesity leads to the collapse of the market capitalisation of a name like Weight Watchers (WW). The solution The article observes that the growth of the GLP-1 slimming jabs since 2021 has eroded the need for self-motivated courses like WW. Still, it could also impact book sales, dietary supplements and surgical procedures. The predictions for the weight loss drug industry are huge, with Bloomberg estimating that by 2030, the industry could be worth $80billion for big pharma, “putting them among the biggest classes of drugs in history.” The GLP-1 agonists, drugs that inhibit or suppress certain responses in the body, are deemed very safe having been originally designed to increase insulin production in people with diabetes. With 38% of the world’s population deemed overweight, the market potential for these drugs is huge – but there are consequences since the means to administer the drug is through injection with ‘skinny-pens’, which are in short supply. The hunt for a pill solution is underway – and since the health benefits of GLP-1 seem to extend to reducing heart disease and fatty liver conditions, there is a gold rush to find better ways of manufacturing and distributing the drug.?
The Outlook – Could you adjust your value to align with these forces?
The successful widespread use of GLP-1 agonists (glucagon-like peptide-1 agonists) for multiple conditions, such as heart disease and high cholesterol, has the potential to impact life expectancy and quality of life for individuals significantly. These medications mimic the action of the GLP-1 hormone, which can increase insulin secretion, decrease glucagon secretion, and reduce appetite, among other effects. Originally developed for treating type 2 diabetes, their potential benefits in managing different conditions could lead to broader therapeutic applications.
Impact on Life Expectancy
·?????? Reduced Mortality and Morbidity: GLP-1 agonists could lower the mortality rates and morbidity associated with heart disease, high cholesterol, and other conditions by effectively managing and reducing the associated risks.
·?????? Improved Quality of Life: Beyond increasing longevity, these treatments could improve the quality of life by reducing disease symptoms, the need for hospitalisation, and the severity of disease-related complications.
·?????? Comorbidity Management: People with multiple chronic conditions could see improvements in overall health outcomes, potentially simplifying their treatment regimens.
Social Implications for Ageing Societies
The implications of increased life expectancy and improved health in ageing societies like Japan, Europe and the US are multifaceted, affecting socioeconomic structures, healthcare systems, and cultural norms.
·?????? Healthcare Systems: This would significantly impact healthcare services and costs. While the demand for acute care services might decrease, there could be an increased need for long-term care and management of chronic conditions, especially as the population ages.
·?????? Economic Considerations: The increase in life expectancy could strain pension systems and savings plans, requiring adjustments in retirement age and benefits. However, healthier older adults could contribute to the workforce longer, potentially mitigating some economic pressures.
·?????? Social Structures: Societies may need to adapt to a 'new normal' where older age does not necessarily mean retirement or decreased activity levels. This could lead to changes in perceptions of ageing and potentially foster more age-inclusive societies.
·?????? Inter-Generational Relations: As life expectancy increases, there might be more generations living simultaneously, which could strengthen family bonds or, conversely, increase tensions due to financial and caregiving responsibilities.
·?????? Policy and Infrastructure: Governments and organisations might need to revise policies related to healthcare, employment, urban planning, and social services to accommodate an older but healthier population.
The Weave is working to open up opportunities for intergenerational engagement through mentoring. This would benefit people of all ages in the pursuit of knowledge sharing and create the potential for people to share in the value of such work economically and emotionally.
Consumer Trends 2024
A Dutch Mortgage made us think about dynamic pricing models as your competitive advantage.
The housing market is rarely associated with sources of innovation, but the last month saw the arrival of a new lender into the UK home mortgage market. A Dutch company called DMFCO is offering a dynamic mortgage that is fixed rate but falls in price as the loan-to-value ratio decreases as repayments are made. This model, discussed here , has appeared when cuts are being priced out of the interest rate market, and prices are starting to show a degree of buoyancy. The lender is a major player in the Dutch housing market and a welcome source of innovation in an uncreative industry.
What does dynamic pricing offer the rest of us?
It conjures up a moment of angst whenever I discuss pricing with anyone. Many of us in every industry, from retail and hospitality to financial services, are shy about doing anything that is not industry standard. Yet price and pricing could be a significant force for change and your competitive advantage. Just because the price is set does not mean it has to remain static. Customers will love a responsive approach that matches their needs and ability to pay.
Dynamic pricing, influenced by the Dutch Mortgage lender, offers a fascinating model that could revolutionise various industries. In this look into the model, we will use two sectors: car dealerships and restaurants. Tailoring prices to mirror demand, supply, risk, and customer behaviour is possible by using AI to analyse various factors. Here are some suggestions for how businesses could implement dynamic pricing strategies effectively.?
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In the example of Car Dealerships
·?????? Customer Demand and Market Trends: AI can analyse market trends, customer demand, and inventory levels to adjust pricing. For example, if there's a high demand for electric vehicles and low inventory, prices could be adjusted accordingly to maximise profit and manage inventory efficiently.
·?????? Trade-In Value Adjustments: Like the mortgage concept, the trade-in value offered to customers could be dynamically adjusted based on the vehicle's condition, market demand for the model, and current inventory levels. This could ensure better customer deals and more profitable inventory management for the dealership.
·?????? Financing Options: AI could dynamically adjust financing options and interest rates based on the customer's credit score, the vehicle's value, and the loan-to-value ratio, like the Dutch Mortgage model. This personalised approach could make financing more accessible or advantageous for certain customers.
In the example of Restaurants
·?????? Menu Pricing Based on Demand and Supply: AI can adjust menu prices in real-time based on demand for certain dishes, ingredient availability, and cost fluctuations. For example, if a particular fish becomes scarce, the price on the menu can be adjusted higher to reflect this scarcity.
·?????? Dynamic Pricing During Peak Hours: Restaurants could implement dynamic pricing for peak hours or special events. Prices could be slightly higher during these times, managed dynamically through AI analysis of booking patterns, historical data, and customer flow.
·?????? Personalised Offers: Based on customer behaviour, preferences, and historical spending, AI can dynamically offer personalised discounts or premium pricing for VIP customers. This could encourage loyalty and increase customer satisfaction.
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Implementation Considerations
·?????? Transparency: Businesses must maintain customer transparency about dynamic pricing to avoid potential backlash. Whatever you do, ensure that the price changes reflect a positive value exchange, not an arbitrary price movement based on exploiting opportunities.
·?????? Customer Experience: While dynamic pricing can optimise revenue, balancing profit with customer experience is crucial to ensure pricing strategies do not deter customers. Changing the jam price based on some algorithm is less likely to improve the customer’s experience; modifying pricing based on good behaviours might do.
·?????? Regulatory Compliance: Businesses must ensure that their dynamic pricing models comply with local regulations and laws related to pricing and discrimination.
In all industries, the success of dynamic pricing strategies hinges on AI systems' ability to accurately analyse large datasets, predict trends, and adjust pricing in real-time while considering multiple variables. When implemented thoughtfully, this approach can enhance profitability and efficiency and offer a more personalised customer experience.
Democratising Home Ownership – an alternative future for housing
Homeownership needs to be within reach of an awful lot of people. It is not only the young who feel excluded from the market but many people who, no fault of their own, have been driven into unstable rentals. No one wants to end their days sofa surfing on a pension – and few seem able to build equity whilst enjoying home ownership's freedom. Go to the bank of Mum and Dad or live at home until you are 35, or don’t bother because it is out of reach. This dynamic creates a blockage in the system, forcing home prices higher and denying the young and old a life of certainty.
Enter BlocHome, a business model that seeks to make property ownership accessible for everyone. Fractional ownership (shared by any other name) comes with challenges, but a model that uses blockchain to manage the ownership and share the risk for the benefit of many. On our latest iTeams challenge, we have two teams addressing the issue of homelessness and exploring solutions to allow people to gain or regain a foothold in a more stable home life. With some tweaking, a model like this could help many on the cusp of eviction and let them transfer into a shared space. All we need is a tokenised process where tenants are rewarded with equity over time as they build evidence around reliability, where investors buy shares in the property and crystalise value through recurring revenue but a stake in the portfolio's value. In today’s vacant offices, abandoned high street property needs a new lease of life. Such a platform could service investors with tenants who wish to build equity. Transparency, inclusivity, and accessibility are three core values that drive the model.
Skin Cancer on the Rise – Could a new approach to clothing be the answer?
The global rise in temperatures is increasing. In the UK, around 15,000 people per year are diagnosed with melanoma, and in Britain, this is the fastest-growing cancer of them all. The 5th most common cancer of the day – it is often the result of sun exposure at a young age. In Australia, where skins are fair and sun plentiful, they have had to find ways of protecting themselves. Solbari (www.solbari.co.uk ) is on a mission “to inspire and help people lead a sun-smart life.” They sell various sun-protecting products, including UPF clothing. According to GrandViewResearch.com , the UPF-protected clothing market is worth USD 706.3 million in 2023, with an anticipated annual growth rate of 8%. This could be the fastest-growing market segment in the overheated atmosphere of the Northern Hemisphere. As yet, we have few incumbents in the market, but there is potential for brands like Solbari to make a significant difference in skin cancers.
ECONOMIC TRENDS – Mixed bag on inflation and economy
Bitcoin is up, S&P is up, High Yield (junk) Corporate bonds are all up, Gold is at all-time highs, UK house prices are closing in on the 2022 peak, and earnings are above inflation – so what is happening? More to the point, if you are a central banker looking at asset prices, are you saying now is a good time to ease? Fed Chair Powell appears to be looking the other way when he said that the Fed is “not far” from the confidence needed to cut rates. Underpinning euphoria is the belief for many pundits that the rise of Open AI is a game changer in terms of corporate efficiency and an opportunity to reevaluate the profit potential for many organisations. Saying that, valuations appear mightily stretched, and to sustain the optimism, we will have to witness some of the gains from these hefty sunk costs.
In the world of equities, not all are winning, and there are a few strugglers. Apple is down 10% in the year (see above), and Tesla has experienced a 25% drop as competition erodes the first-mover advantage. Stocks are not as stretched as Bitcoin, which failed to breach the previous all-time high but still hugely up the year. We spoke about the fortunes of Bitcoin in our 2024 Trends webinar, suggesting some of the fundamentals had changed, and recent buying by ETFs and forecasts for future price gains are adding to the upward momentum. Stock markets seem more divorced from reality, although Nvidia was a catalyst for much of the advances, with continued record results demonstrating the need for AI components. The Japanese stock market has broken all records, and from being a laggard, it is now one of the best performing – many put this down to younger investors coming in as stocks start to look a more interesting proposition and bond prices are potentially heading lower (yields higher) making the switch into equity more appealing. ?
The fundamentals still point to sticky but tamed inflation as producer price data, often a lead indicator to inflation, is resilient in both the US and the UK, but the numbers are behaving. The BoE is keeping the rhetoric hawkish for the time, but a less liberal Spring budget could see ease discussed once more – we remain sceptical about any easing and, if it happens, the depth of those cuts. Why bother – there appears to be plenty of money still slushing around the global economy, so cheapening borrowing costs will lower risks and fuel asset prices even further.
领英推荐
In 2023, founders and VCs discussed a difficult funding arena, even a slump. One European country seems to have bucked the trend, as Spain’s early-stage startup ecosystem has benefitted from some hands-on legislation, making the investment scene much more attractive. The Startup Act gave Angel investors additional protection, and more deals were made—the real proof in the pudding is that those investments create solid exits.
Nike has shed workers from their tech sector and created a new focus on what it sees as their strength: the brand. Many have complained that Nike has lost some of its brand connections lately, focusing instead on product development.
Do we need interest rate cuts to keep this euphoria afloat?
We have constantly played down possibilities, but there may be room to ease a little. However, central banks want to keep some of that crisis premium intact, given the likelihood of a correction (or worse) in the economy. Inflation may have to be below 2% for some time before deeper cuts come – and given the continued squeeze on households, a buyer’s strike may be closer than we price in.
Investing - An article which is NOT investment advice; it is just thoughts about current risks and markets.
“Believers in the dot-com boom were not wrong about the internet's transformative power—but they still lost their shirts.” – The Economist.
The dynamics of investing, the push and pull that drives euphoria bolstered by FOMO vs the cold hard logic of long-term valuations and rationalised thinking framed in the mindset of “what goes up must come down” have never been more challenging. The growth in democratised investing through platforms and FinTech’s creativity to reach Millennials' minds may be a catalyst to justify extremes in valuations or just another channel to get us to believe we are somebody we are not. Is AI the Gilded Age of the 21st Century, the liberalisation of a new capitalist model only at the start of a revolution of efficiency and growth? Or is it hyped to the hilts, divisive in the extreme, and just another bubble to be pricked? We do not know, but we cannot let ignorance paralyse our thinking - I believe when things get this hard to read, we must consider the next stage of the journey by distancing ourselves from the emotional rollercoaster of today. We must present scenarios reflecting those extremes and focus on visionary thinking.? Global turmoil is real - what we see on the news daily is sobering, or at least it should be. I am an optimist and believe in the depth of goodness. In my small world, I witness people looking for a better life for themselves and others. This tempers my thinking regarding the daily digest of heartbreak and unpleasantness we witness.
The current establishment’s way is destined to be binned because it is shallow, asymmetric and leads to unfairness. Despite a desire for diversity from some, we appear to be stuck in the domain of old men embittered by power, feeding the nationalist fires that stoke protectionism and a passion for a bygone age, who rage against ‘wokeness’ and cling onto their vision of past greatness. Theirs is a continued belief in heroic leadership, concentrated power and a vision for the status quo. All things change, but power is often transferred to those closest to them, who will most likely continue to do the same. Breaking away from a narrative forged in tradition and conformity is like changing your summer clothes into more appropriate wear for winter but deciding to do it outside in arctic conditions. No doubt irrational at first glance, but to survive, you know you must.
Change requires us to overcome inertia, friction, and drag, and for that to happen, we must be living in a crisis or standing in a mess that is too painful to endure and one that we need to escape.
We find ourselves at a crossroads in this swirling storm, where emotions run high, and logic struggles to maintain its grip. The relentless push and pull between euphoria and rationality has never been more intense. The proliferation of accessible investing platforms and the allure of "risk-free" yields have raised profound questions about the nature of value and the boundaries of risk. Are we witnessing the dawn of a new Gilded Age, a revolutionary leap forward in efficiency and growth? Or is it a mere mirage, a bubble destined to burst with devastating consequences?
We cannot allow uncertainty to paralyse our thinking. Instead, we must embrace visionary thinking, considering both the optimistic and catastrophic scenarios that lie ahead. Global turmoil, while unsettling, should not be dismissed as fleeting. It may herald profound shifts in the balance of power and the social fabric of nations. Yet, amidst the chaos, we must cling to optimism.
We witness a strange paradox in an era when fiat currency is being debased, and the desire for alternative cryptocurrencies rises. Crypto's rebellious spirit, born from a desire to break free from conformity, is being challenged. The rules of the system it sought to challenge are what save it. It is up to the next generation to shape the future; it cannot remain in the hands of baby boomers.
The true test lies in our ability to navigate volatility, uncertainty, and ambiguity with resilience. As we age, our aversion to these qualities intensifies. But we must not succumb to fear. We must invest in education, share our wisdom, and perform acts of kindness. These are the building blocks of a better world, transcending the dystopian visions that haunt our collective imagination.
In the words of the great Margo Channing (Bette Davies), "Fasten your seatbelts; it's going to be a bumpy ride." Let us embrace the journey with courage, foresight, and a profound belief in the power of human connection.
TECHNOLOGY TRENDS – Who knew lettuce was the world’s most challenging crop?
Food security is one of the biggest challenges we will face over the next century. The land is being used for housing, and food is being imported from vulnerable places ravaged by global warming, leading to unpredictable harvests and intensive, prolonged droughts.
Still, investors have become less interested in this area lately. From being the darling of the decade (2012 – 2022), attracting $3 billion of investment, according to Tech Crunch, deals are rare, and closures and down rounds are becoming more common. Some of the big names of the past are closing. The problem has not gone away. It has just become an expensive place to invest.
Some positive stories are emerging, and the Hippo Harvest raise of $21 million sounds like a potential floor in the negative stories of late. It was a Series B round valuing the startup at $145 million, up from $45 million. Why have they done better than some? Hippo Harvest’s model combines robotics and AgriTech to mimic the Amazon model of warehousing. Lower production and positioning costs that reduce pathogen infections lead to greater output per square meter, making food more interesting as an investment. We wish them well.
Sora Open AI – that converts text directly to video. Stunning but scary
OpenAI has launched its text-to-video capability with a tentative – this is what we can do approach, but how much of this do we want? We have been discussing this from an ethical standpoint and question how this technology could be used for truly unpleasant activities that might be deep fake or revenge porn. It is no longer safe to assume that what we are watching is evidence of what has occurred—camera footage of crimes; who can trust them? Dashboard cam recordings of crashes or bad driving could create a huge mistrust. The industry must take precautions; the only problem is that watermarks or authenticity is not immutable. Maybe Blockchain has the answer – in the meantime, marvel at where we are with this YouTube clip https://youtu.be/tJ3WtQRn9xs?si=8-MImPbJu5I3QS9T
FinTech – it is not dead and buried as Bitcoin bursts previous highs.
Three stories to engage with in FinTech over Feb and early March. The first is the meteoric rise of Bitcoin, which we discussed above but is still worth revisiting. I do not profess to be a Bitcoin enthusiast or crypto trader, but the recent enthusiasm for the currency has made it the 8th largest investment asset. Now we are playing Forecast Top-Trumps, who can predict the highest price over the next few years, and there seems to be a newfound passion for the product. It may be the Stablecoin legislation due to be signed or the advent of Exchange Traded Funds (ETF) listing increasing liquidity and, potentially, downsizing volatility, which attracts more diversity in investing intentions. We will let you know what happens.
Second, Monzo, the London FinTech heavyweight, raised $430 million (￡340 million), increasing its value to a whopping $5 billion (￡4 billion) post-money. The money is destined to fund the US expansion plans and is being supported by Alphabet, Google’s parent company’s VC arm CapitalG. The US is a hard market to break into, but acquisitions may be on the cards with the war chest available.
Thirdly, as Crunchbase reported, the state of the fintech industry is proving
difficult for startups, given the tough environment. Investment has plunged 36% in this hot space. The article's essence is that there is a shifting trend in investment from the unproven value proposition to later-stage FinTech, where growth feels more secure. ?The metaphor of Fintech as the ‘Wild West’ is being challenged as regulators (sheriffs) start to impose stricter rules like ‘know-your-client’ and AML, both creating challenges for Global aspirations. Regulations are imposing heavier barriers to entry, and early-stage ventures are getting lost in the ‘wilderness’ between bootstrapping and later-stage funding whilst geopolitics is rearing up to rail against the machine. There is a real passion for FinTech startups to solve challenges regarding personal finance and financial literacy and is a far more open partner in supporting other technological solutions.?
SUSTAINABILITY TRENDS – Stories from Feb 24
Sustainable Times had an interesting piece on the ‘Net Zero’ economy in 2023, a piece of analysis conducted by the CBI. It was a reflective piece but did emphasise that the growth of this sector far outstrips general economic growth conditions. Green industries both receive significant investment and essential conduits to address wider sustainability issues. At the heart of any sustainable economy is a focus on collaboration and transparency, and unless we get comfortable with these two elements, we will struggle.
The report highlighted the surge in activity that contributed to around 3.8% of the nation's economy, which was vital when the drags on growth were profound. This investment was not all internally driven, and according to the report, ￡14 billion came from foreign direct investment. Over twenty-thousand highly contributive new jobs were created in this sector, and the average annual salary was ￡44.6k, 1.6 times higher than the national average.
The report was not all hype and prosperity. There was also a realisation that despite the effort, temperatures were still rising, and the headwinds businesses face are challenging many to rethink investment strategies. Also, this was not a UK-wide success story, and London was a laggard despite the wider congestion charge and London-based initiatives.
The report concludes that the election will undoubtedly be a battleground for green voters. However, whoever wins must establish a strong foothold in inspiring wider change and accelerating “sluggish delivery rates.”
INNOVATION OPPORTUNITIES
iTeams – Open Innovation and a Force for Creativity.
No sooner than we have started, are we heading into Session 7, the pitching session? The students have been amazing over the last six weeks. They have come together every Wednesday evening from 6 PM to 9 PM, work on developing new skills, and follow a design journey. To help them along the way, there is a regular supply of pizza and The Weave facilitators, Magdalena Mahdy and James Cracknell. In session 5, Mick Holloway , one of our resident mentors, delivered an insightful discussion about communication and marketing. There is truly little Mick doesn’t appreciate about these subjects, and the students responded enthusiastically. The next session, the penultimate one, is being delivered by Kayla Conley , where the students will learn how to build and develop that stage presence. We can’t wait!
Sandrine Singleton-Perrin , our resident community champion in the field, will also provide the students with guidance and practice on sophrology .?
We are delighted to be working with Camila Lobos and Sebastian Lobos of Learn to Learn an educational company with a big ambition to bridge the gap between different countries. Odusola Bimbi Philips founded our second business to solve the problems of group travellers and their booking needs. Travel Jinni is a technical solution with an inbuilt payment facility that removes the load from central organisers. Our third organisation was passionately represented by Amma Antwi-Yeboah BSc Econ (Hons) CIHCM MinstLM from Babergh and Mid-Suffolk Council and addressed a national priority around housing, homeless prevention and a sustainable solution.
The teams have been ably supported by experienced mentors Kayla Conley , Mick Holloway and Gavin Miklaucich . Insight and wisdom abound.
The programme culminates in March, and we will report on the final event in our next newsletter. We are so excited to hear what the teams will present back to the businesses and what the businesses will think of the team's insights.
Who's been here? The Weave has!
The Weave was honoured to be asked to be mentors at the Aviva Norwich Hackathon 2024, which focused on a FinTech-based challenge. The event took place in the City College Norwich at the DigiTech Factory and was hosted by the wonderful Roz Hicks , Head of Media Business & Digital Industries. The event, designed and hosted by the team at Aviva, started on Friday afternoon and was completed late Saturday afternoon. It saw eight multigenerational teams, each supported by a team mentor, address a regionally specific challenge that matched Norwich's aspirations of becoming a FinTech Hub. Sponsored by Tech East and FIG , as well as Aviva, the teams delivered the final pitches at Aviva’s Offices – a truly resplendent forum that only added to the sense of the occasion.
PREMIUM CONTENT AND SUPPORT
Join our Premium support programme and get discounts on various courses, accountability programmes, Interwoven Spotlights, social media shoutouts, and first dibs on any pitching, innovation, or networking events we run.
You will gain access to our premium area for ￡59.00 per person or ￡125.00 per business/team per month (Ex. VAT). Sign up now, as these prices cannot be guaranteed. What can be guaranteed is an easy-in-easy-out model that works for you.
OKRs – Spring Forward - New approach. Get accountable and boost your productivity.
The Weave launched its accountability programme and welcomed the first cohort of attendees onboard.
So why did they join? They loved setting out meaningful objectives and working with someone to hold them accountable and keep them focused.
We will take on ten more people in January, limiting the numbers and running them every two months. If you are interested, you can explore some of the resources we have here: https://wearetheweave.co.uk/okr
Objectives and Key Results (OKR) came to my attention after reading John Doerr’s excellent book Measure What Matters. We all may have rather vague aspirations about success, happiness and wealth. Equally, we may say we want to grow sales by 15%, but what does that all mean, and can they be interpreted as actions focused on outcomes? When we use the OKR model, things take a more empowering shape. We are encouraged to see our objectives as results that can be measured and how we empower growth through sharing. Teams and all stakeholders see where we are heading and can align themselves with you for the journey. So, how do they differ from SMART goal setting?
The primary differences are:
Flexibility: SMART goals tend to be more rigid, with specific criteria and deadlines. OKRs allow for more flexibility, encouraging teams to set ambitious objectives even if they may not be entirely achievable.
Focus on Ambition: OKRs often emphasise setting ambitious and challenging objectives, encouraging teams to aim high. SMART goals may prioritise more realistic and attainable targets.
Continuous Evaluation: OKRs typically involve regular check-ins and evaluations, promoting continuous improvement and adaptation. SMART goals may have less frequent evaluation periods.
Alignment: OKRs emphasise that the individual and team goals align with broader organisational objectives. SMART goals may not explicitly highlight this alignment.
Quantitative vs. Qualitative: While SMART goals often focus on quantitative measures, OKRs can include quantitative and qualitative key results, providing a more holistic view of success.
There is a place for both, but in the world of aspirational entrepreneurs, OKRs have the edge.
SIGN UP FOR YOUR LEADERSHIP BOOST IN 2024
●????? A book club.
●????? A space to learn how to write books.
●????? A place to be a thought leader.
●????? An opportunity to get your words published.
●????? A library where you can access books.
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This is a breakthrough in personal development and personal branding. Reading is like having a mentor in your pocket. We have a rich library of resources – books we have collected and built up. Joining Reading Rooms is a value experience second to none – and we welcome you. Becoming a member is an investment of ￡699.00 annually, excluding VAT, and this gives you access to the reading club, library, regular book reviews, and analysis.
Join our premium section and get a 20% discount on the cost of the writing workshops.THE TED LASSO APPRECIATION CORNER
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#3 The Wisdom of Ted Lasso – just for you!
“I don’t know everything, but I do know that you’ve got to care about people more than wins and losses.”
Focus on who we serve and not who serves us. Thanks, Ted – and Coach Beard. More to come next month.
If you haven’t seen Ted in action, then watch Apple TV and download an inspiring series that underpins servant leadership as a philosophy.
COMPETITION
We are introducing a new offer, which we have called PitchLab—we hate the name—so we are offering a copy of the Ted Lasso Guide—100 Motivational Quotes. If you have a suggestion, then DM me in the community—you can join here: https://the-weave.mn.co/share/u5hblRQ-zyNboeDp?utm_source=manual.
PROJECTS, NEWS AND FUTURE DIRECTIONS
Launching soon
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1.???? PitchLab – a six-week cohort programme to develop a pitch and pitch deck. In today’s complex environment, agility and opportunity are essential to survival. Our programme explores and develops language that aids Communication Efficiency. Anyone attending will be on a business development journey focused on the power of iterative thinking and creating a fresh, well-constructed pitch. For anyone who has been on the Essex Business Accelerator – this uses the good stuff here but then adds to it.
2.???? SprintLento? - Innovation is not a happy accident. It is a purposeful pastime. Why not invest in an eight-week innovation sprint instead of spending thousands on leadership and team development training? In this event, your team and some well-chosen wise externals will work together to deliver a piece of innovation that addresses a business challenge. This learning event brings teams together to create cohesion and develop essential soft skills – not in a classroom but in an innovation space. If you have a training budget and don’t want to blow it on classroom-based learning – speak to us.
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What’s next?
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We hope you enjoyed this version of Catching The Wave – if you saw value in it, please share. If you want MUCH more value, then join The Weave at our MightyNetworks community.
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Referrals, Community, Support, Accountability and Events – as Roy would say from Ted Lasso “Faaaack” in a very gruff voice. ?
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This is FREE to use and engage with and your chance to help grow the region’s entrepreneurial talent.