This feature from Gartner identifies the top ten strategic technology trends that organizations should explore in 2023. For this week’s posts, click on the paragraph links.
>>>Sramana Mitra: What about the technology? Did you build all that?
Todd Schwartz: I do not believe in going out and blowing a bunch of equity to build this beautiful shiny technology system. In four years, it’s probably not going to be the best system with the rate of change. I used off-the-shelf solutions and did API integrations into them. I spent little on technology. I didn’t have a CTO for the first five years. They were all variable costs. I didn’t have to outlay a lot of equity. I was able to grow with a variable cost model.
>>>Julien Pham is Founder and Managing Director at Third Culture Capital (3CC), a firm focused on investing in the healthcare space.
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I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about art and culture. In this series, I will typically publish a piece of art – one of my paintings – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area. Let us see what stimulation this interaction yields. For today – Les Voiles Rouges I
Les Voiles Rouges I | Sramana Mitra, 2021 | Watercolor, Pastel, Brush Pen | 8 x 8, On Paper
Todd Schwartz: The technology wasn’t there. I didn’t know anything about lending. I didn’t know any other way to do it except take $100,000 of my own savings and open a one-room office in the north side of Chicago, get a printer, and use Excel to originate loans. I applied for the CILO license. Six months later, I was granted the license. I was getting referrals from the pawnshop.
I made the first 3,000 loans in person by myself. I handed the check to every borrower. I got to know every borrower. I understood why we were better. There were no prepayment penalties. I had to hire people. We were getting so much referral volume. We have such high customer satisfaction. We weren’t really measuring it, but I could just tell by the way people were overjoyed and the referrals we were getting. Our interest rates were much lower. Our payment terms were much more beneficial.
>>>I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about art and culture. In this series, I will typically publish a piece of art – one of my paintings – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area. Let us see what stimulation this interaction yields. For today – Les Voiles Jaunes
Les Voiles Jaunes | Sramana Mitra, 2021 | Watercolor, Pastel, Brush Pen | 8 x 8, On Paper
In case you missed it, you can listen to the recording of this roundtable here:
During this week’s roundtable, we had as our guest Julien Pham, Founder and Managing Director at 3CC Third Culture Capital, a firm focused on investing in the healthcare space.
Afterlife
As for entrepreneur pitches, we first had Brett Maxfield from Los Angeles, California, pitch Afterlife, a concept-stage venture that is waiting for financing to get off the ground.
Efeedo
Next, we had Javed Christi from Saint Charles, Missouri, pitch Efeedo, a revenue stage venture in the crowded restaurant POS space, that is looking to raise financing.
You can listen to the recording of this roundtable here: