Graeme Thickins on Tech

Reflections & analysis about innovation, technology, startups, investing, healthcare, and more .... with a focus on Minnesota, Land of 10,000 Lakes. Blogging continuously since 2005.

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When Will the Coming Tech Crash Arrive in Minnesota?

Photo: ShineYourLight (Sang Kim)

Photo: ShineYourLight (Sang Kim)

Trends don’t start here in the cold North. We all know that. They tend to come from the coasts. Not always, but mostly. Some trends never even get here at all, and we can be fine with that — or not even realize we missed another one. Then there’s a trend that turns into a… crash.

There’s one of those taking shape out there in the world of big tech that we should hope never gets here. We’re hearing the talk more and more. New signs pop up. I caught a story yesterday that uses the stock market term “correction” in the headline — how polite — then proceeds to cite so many reasons it could be called a crash. Or a bubble burst. Continue reading

Wait, Was That My iPhone That Just Flew Over Your Head?

It could have been if I had a “PhoneDrone Ethos” prototype — I could be buzzing you! But, sigh, I don’t have one … and none of us mere mortals will until they ship in September 2016. That’s as soon as the Kickstarter page promises. Nonetheless, as I write this, the product boasts some $238,000 pledged (well exceeding the $100,000 goal), and more than 900 backers — who apparently have no problem waiting for 11 months.

xCraft, the designer and manufacturer, is a drone company that scored a record-breaking $1.5 million investment on Shark Tank recently.  Continue reading

The Pioneer Summit Liveblog

I was in the Bay Area live blogging the Pioneer Summit, October 7-9, 2015, in Redwood City.  The conference was put on by the awesome accelerator/innovation hub  GSV Labs, and I really enjoyed it! My live blog is now archived. It spans two and half days of the event, beginning just before sunrise on the first day…

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NOTE: Unfortunately, updates to WordPress software since I originally published this post caused the Live Blog plugin to break. I got no warning. Nice going, WordPress! So, my content appears to be lost forever… 🙁  

I guess you just had to be there! Trust me, it was good.

Raising Money You Don’t Need: MN Startup Trend?

I Dont Want Your Money[UPDATE 9/28/15: At the bottom of this post, I include some great comments I got from a leading VC over the weekend.]

This thing about profitable startups raising money they don’t need is getting deafening around here. A few years ago, Code42 shocked us by taking their first VC money (a huge $52M round), which confused people because they knew they were doing fine without it. [UPDATE: days after I wrote this post, it announced an $85M Series B.] Then LeadPages raises a surprise A round in late 2013 that it soon was openly bragging it hadn’t touched — didn’t need it. Only months later, it takes yet more — another $27M. It’s growing crazy fast, so we wonder… do they not need that either?  How about SportNgin, raising something close to $40M over four rounds going back to 2011? With the continuous growth they’re experiencing, why do they need all that cash and can they even spend it?

Now we learn about another rapidly growing Minnesota startup, Field Nation, which began as a young college grad’s idea more than a decade ago and now claims a $100M gross revenue run-rate, grabbing a huge (for this town, FieldNation-logo-horizanyway) Series A round of $30M. Reading the recent news in the StarTribune and the MSP Business Journal, you had to be impressed. Another homegrown startup raises a huge initial round. Wow, yes, we say to ourselves, beaming with pride, the Minnesota startup community really is rockin’! But what’s going on here with this latest winner in the local VC stakes?  Continue reading

The State — or Lack of a State — of Marketing Analytics

©VentureBeat-MktgAnalytics

Image @VentureBeat

How does one assess the landscape for an exploding technology category like marketing analytics? There’s so much confusion and hype around the topic. You’ve heard it all — too much data, we’re drowning in it, woe is us. And, along with that, too many vendors trying to sell us the latest cure. First we were shocked to hear the number of vendors was 1000, now we’re told it’s 2000! The argument that all these vendors create too many data silos is now a refrain we’re hearing more often. Hard to argue with that.

With such high numbers of players comes confusion, and complexity.

But it begs the question: how in the world do you unify all your marketing data to understand it and gain a competitive edge for your organization? Will a platform or single vendor solution emerge? Some of the big players like Oracle, Adobe, and Salesforce are certainly trying, opting in a big way for buy vs. build. (These three have led a frenzy of acquisitions in the marketing technology space.)

Yet significant roadblocks still exist to widespread adoption of marketing analytics in business today — and for companies to extract real value from it. The lack of data science skills we’ve all heard about by now till we’re blue in the face — it’s the “sexiest job title in the country,” blah blah blah. Big shortages, universities scrambling to launch graduate programs, etc, etc. But should  this technology really require a PhD in every marketing department and agency in the land? That simply doesn’t compute! Why can’t there be more solutions, more tools, that marketers and general business folks — regular Joes and Janes — can use? Why does it all have to be so complex?  Continue reading

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