The Digitization of Money: Venmo Is Just The Start

The Digitization of Money: Venmo Is Just The Start

 

LOVE Venmo – so easy and efficient. If any of you aren’t using it yet, you MUST sign up for the app immediately. I’ve used it recently to pay my share of a group dinner and to get paid when I sold my bike. Next, I am going to see if my cleaning person will let me pay her via Venmo.

Great interview with Dan Schulman, the CEO of PayPal and Venmo  on how the digitization of money (from cash to digital) is driving their growth.

On Venmo, which started out as a millennial-oriented peer-to-peer payment service and went viral with almost zero marketing, he revealed:

  • Venmo just saw its 15th straight quarter in which its user volume doubled
  • Venmo will soon be available for retail transactions

He predicts the financial services industry will see more change in the next 5 years than it has in the last 30 because of mobile and digitization.

Read on below for more on the digitization of money and the surge of interest in fintech (seen through google trends searches).

Read More >

Share this post on:

LOVE this Spectrum Commercial – Absolutely No Idea If It’s Effective

LOVE this Spectrum Commercial – Absolutely No Idea If It’s Effective

 

LOVE LOVE LOVE this commercial – cracks me up every time I watch it. Whoever wrote the script for this droll, conversation between the four “monsters next doors” on their morning commute deserves an award. Brilliantly funny!

I must admit I had no idea what the commercial was for when I first saw it. Also, can’t say it would make me sign up for Spectrum if it wasn’t already my carrier.

It was produced by Brooklyn-based independent agency Something Different.

Make sure you watch it.

 

 

Read More >

Share this post on:

High Income Millennials: Big Market For Luxury Homes

High Income Millennials: Big Market For Luxury Homes

 

Great piece in the Washington Post on high income millennials buying $1M homes throughout the country but especially in the DC area. However, the report I found most interesting is Christie’s “Luxury Defined 2016” which is also cited in WaPo.

Key takeaways:

  • Arlington has more millennials with HH income of $350,000+ than any other part of the country, with 8.7% of millennials among that wealthy cohort. (Source: Zillow)
  • DC is tied at eighth place with New York City, with 2.8% of millennial HHs above $350,000.
  • In the DC area, most of the millennials who have the money to buy $1 million homes are households with two lawyers. Some also work for tech companies or bio-tech research.
  • According to the Christie’s report, young, high-net-worth individuals, particularly entrepreneurs and tech industry employees, are increasingly buying luxury-level real estate in New York City, San Francisco, Seattle and Miami, as well as in resort communities and the D.C. metro area.
  • Auckland is the world’s hottest city for luxury real estate. It posted 63% growth in million-dollar-plus sales thanks to strong international and local demand especially from tech entrepreneurs.
  • To read the full Christie’s Luxury Defined report, click here.
Read More >

Share this post on:

WORK TRENDS: Buckle Up Kids, Get The Education You Need, Not The One You Want

WORK TRENDS: Buckle Up Kids, Get The Education You Need, Not The One You Want

 

I’ve written about this subject ad nauseam but this excellent piece from the WSJ deserves to be read by everyone from students to parents to educators.

  • The key point made is how ill-prepared most graduates are for the workforce of today – and this applies to both men and women.
  • Whose fault is that? If anyone is to blame, it’s parents, educators, and mostly students themselves. Based on my experiences researching this subject with students, what I hear repeatedly is they avoid engineering and computer sciences because “it’s hard” or it’s “not fun or interesting.”
  • Get over it people. This is where the jobs are, at the companies in growth mode.
  • One last point on gender. I’m sure if we broke down the figures, we would find that among the paltry number of students graduating with in-demand degrees in engineering and computer sciences, the vast majority are NOT women.
  • It’s easy to blame companies but I am 100% opposed to this. Female engineering or computer science graduates routinely land multiple jobs offers. Turning on Google or Uber because they haven’t hired non-existant female engineers is foolishness.

Some other findings from the WSJ article that I have run into personally and need to be addressed by students:

  • More than 60% of employers said applicants have not familiarized themselves sufficiently with their company and industry, and consequently do not ask good, insightful questions in interviews.
  • Three out of four applicants fail to send thank-you notes after interviews.
Read More >

Share this post on:

Mindfulness: The Next Big Trend Going Mainstream In The Business World

Mindfulness: The Next Big Trend Going Mainstream In The Business World

 

Just to be clear, I’m not advocating for mindfulness but I definitely see it gaining momentum. I will also not be surprised to see  “mindfulness” become the buzzword of the year.

  • What is Mindfulness? It’s a state of active, open attention to the present. Instead of letting your life pass you by, mindfulness means living in the moment and awakening to experience.
  • My friend, Andrew Jordan Nance, Founder of Mindful Arts in San Francisco, first told me about mindfulness a few years ago when he mentioned the children’s book he was writing called Puppy Mind. The book has gone on to become a best-seller and Andrew is working with educators on how to incorporate mindfulness into the curriculum to help children become more focused and attentive.

Fast forward one year and mindfulness is popping up everywhere. Here are a few recent examples:

Read More >

Share this post on:

Is Dyson, The Tesla Of Home Appliances, About To Get Into Cars?

Is Dyson, The Tesla Of Home Appliances, About To Get Into Cars?

 

Am obsessed with both Elon Musk and James Dyson. The former everyone knows but James Dyson, the founder of UK’s Dyson Ltd., is especially intriguing because while many of us admired his home appliances, he was actually building a major technology company.

  • Per Bloomberg, Dyson will spend over $3 billion on future technologies, including artificial intelligence and robotics.
  • Among Dyson’s biggest bets (along with Elon Musk’s) are batteries. Last year, the company said it would spend 1 billion pounds on research over the next five years.
  • In 2015, it acquired the maker of solid state batteries Sakti3 for $90 million.
  • Recently, however, Dyson abandoned Sakti3’s patents – nobody is clear why. At the same time, they lured away Tesla’s head of communications, Ricardo Reyes, to join Dyson as their new communications chief.
  • This has muddied the speculations about Dyson’s plans to enter the electric-car market.

In the meantime, sales of Dyson grew 45% fueled by their latest battery-powered cordless vacuum which racked up over $3 billion in sales making it the fastest-selling vacuum in the company’s 25-year history.

Read More >

Share this post on:

Retail Winners and Losers In My Household

Retail Winners and Losers In My Household

 

Over 8,000 retail locations are scheduled to close this year around the country. I see evidence of it every single day as I walk around NYC.

It got me wondering how my own shopping behavior has changed over the last 5 years. Where do I now get the products that I use every day vs. where I used to buy them? Big changes driven by cost and convenience.

  • The big winners for my dollars have been walmart.com, Amazon Prime, COS, Anthom, and Ludlow/Soho House.
  • The losers: Duane Reade, Anthropologie, Zappos, Staples, Best Buy.
  • I’m spending somewhat less at Whole Foods but primarily because I am cooking less. Instead, I’m spending more ordering from Seamless and eating out at Ludlow/Soho House where I both work and socialize several days a week.

See below for more details on where/why I am spending more/less now vs. 5 years ago.

Read More >

Share this post on:

Millennials Get The Job Done, Wherever, Whenever

Millennials Get The Job Done, Wherever, Whenever

 

Great piece by Alex McClintock on the job market and his experience in hiring 6 digital producers (in Australia). Although written by a millennial, about millennials, his findings are broadly applicable.

There are no entry-level jobs anymore

  • In the past, companies would hire and train new grads, today “entry level” jobs require years of experience.
  • The best applicants have developed skills in multiple volunteer or unpaid intern roles. Those that don’t, slip to the bottom of the pile.

There’s a point at which a resume becomes overdesigned

  • A sizeable proportion of the résumés had more formatting than Word can provide. Bright colors, glyphs, textures and shapes abounded. Don’t do this!!

Millennials are impressive

  • Constant technological disruption means it’s a tough time to be in the early stages of your career, but young people generally respond with incredible flexibility and a willingness to learn new skills.

 

Read on below for more on how millennials and Gen X-ers are turning nomadic lifestyles into real money whether it’s through tech and social media or the gig economy.

Read More >

Share this post on: