This article is contributed by Kabir Siddiq (Founder & CEO of SleepyCat). SleepyCat is India’s Premium D2C sleep solutions brand.
Right after college, I (Kabir Siddiq) was looking to pursue a career in Finance and Banking. I found myself following the crowd. During the initial phase, I worked with Deutsche Bank in the Investment Banking division. Though I thoroughly enjoyed my time there, I always had the desire to do something more. I was keen on pursuing the Entrepreneurial route and building something meaningful. I didnât want to stick to a traditional job role throughout my life. I really wanted to create, Innovate and develop something of my own. The idea always excited me.
The Journey of SleepyCat began when I entered the old and unchanged mattress Industry. I realized a big gap existed in the market between manufacturing a mattress and eventually delivering it to a consumer. This long chain; mostly distribution, logistics, warehousing, and retail, severely inflated the price of a mattress without reason. In addition, the quality and structure of a mattress being sold at a price like that were nowhere close to being comparable or justified! To top it all, mattress shopping was troublesome with so many unnecessary choices. We wanted to simplify this and make the process of mattress shopping fun and easy while delivering a world-class product through just four simple clicks! Four years later, we have achieved a great product that can be seen with our mattress being the highest rated in the country.
The journey from then to now has been riddled with a path of making mistakes and learning. Itâs all about constantly improving yourself, the product, and the team.
Here are some of the things I learned during my Startup journey.
Always have a plan
While this may seem like one of the most basic pieces of advice, it is the most important to heed. Map out a business plan that outlines your objectives, costs, anticipate the results, and always work towards a goal you have to achieve. Goals help you align your focus towards success. Stay organized towards your goals.
Itâs great to be independent, but never at the cost of your business. Surround yourself with the right people who can consult and steer you in the right direction. This is highly important for aspects that require technical expertise which help scale your business operations.
Once your product or service has seen steady growth in the market, select the right investors who will boost your business. Your first set of investors will make it or break it. Investors are more than financial support, they place their confidence in your business potential.
Listen to your customer
The customer may not always be right, but theyâre ultimately the ones with the purchasing power. Always listen to their complaints, suggestions, and feedback. This leads to building credibility and trust among your customers, it also helps you understand the iterations required to create a product fit for your target market.
Todayâs internet-savvy audience is well-read and researched. Theyâre looking for good quality, durable products. Create and price your products according to their needs. Choose the best quality raw materials, select the right pricing & value your products at a cost that is affordable.
A successful startup is not built within a week, it takes months, sometimes years, of learning to reach the pinnacle. Hire the right set of people who help your startup grow, consult mentors you can lean on, and most of all accept your mistakes! Mistakes are inevitable, learn to adjust your expectations and move on from them. Never be afraid of failure, keep trying, and always innovate.
This article is contributed by Gaurav Singh, Founder & CEO, Verloop.io
Gaurav Singh is the founder and CEO of Verloop.io, which is a leading customer support automation platform. Singh knew early in his life that entrepreneurship was his calling. Coming from a humble background, finding his footing was not an easy task. However, despite the obstacles in his path Singh tasted success right from his first venture.
He is a serial entrepreneur and shortly after his first company, GoDeliver was acquired by MagicTiger, Singh founded Verloop.io in 2015. Singh had observed that the biggest challenge that tech companies face in this age of instant gratification is engaging customers and building loyalty. As per him, these challenges become even more pronounced in the markets that are mature. Verloop.io was established with the objective of bridging this need gap.
During the course of his entrepreneurial journey, Singh had to face challenges that almost every start-up has to go through. Here are some of the learnings that he has picked in his journey –
Work on the core
He believes that every entrepreneur should build their core team early. Most startups put off hiring till they have found a footing. While some believe that this may help them save costs but it may not be the right move as the founder may end up micromanaging everything or have no time for the big picture stuff. As per Singh, it is better to have specialists for every function that can help the founder to decide the best course of action. A good team is also a great asset to bounce off strategic ideas and decide the best course of action. Here’s a guideline on how to build a great startup team.
Time is of great essence
Most entrepreneurs are in a rush to make a mark. However, there are times when it is best to have patience. Singh believes sometimes the only thing missing in cracking a problem is time. Given enough time and resources, every problem is solvable.
Know which problems to pick
In a startup, there are always a million problems to fix. However, if the founder goes about solving each of them, then his team and his product will be headless. It is thus advisable to choose the problem/problems that deserve attention and solve them well.
Employees and Customers are your biggest stakeholders
Another key learning that Singh shares are that in a startup, the goal should be to build for the customers as well as the employees. In his opinion, most times startups end up ignoring employees, which has a hugely detrimental effect across the organization. He believes that the founders should ensure that their employee experience and customer experience is top-notch.
Hire, train and scale
Everyone that is hired may not fit the bill 100%. Hence, organizations need to build in processes to help people reach their potential. Â Onboarding and constant learning can help employees to scale to become the leader in their field. Companies need to nurture the talent and put in practices that inculcate a culture of learning.
A mistake that a lot of startups make is that they are driven just by the data. While being data-driven is good, but most of the times data may not paint the whole picture. Hence, companies need to make some bets with experience and intuition and back it with data.
Surviving in the market with so many competitors around is pretty tough. Many companies don’t even run a month before they shut down! And among these, one of the biggest failures was Quibi. You may not even hear about this company. But this is of a very recent time- 2020.
In early 2020, the co-founder of Quibi- Jeffrey Katzenberg, one of the directors of DreamWorks Animation studios announced that Quibi company is shutting down, within 7 months of its launch! Sounds scary, right?
Quibi was basically a video streaming service platform with its original environmental content of environmental, developed by Meg Whitman and Jeffrey Katzenberg. Meg Whitman, a former CEO of Hewlett Packard raised over $1.75 billion for the company- Quibi.
Similar to the original content created by Netflix and Amazon Prime, Quibi also took a step forward and produced its own category of shows and movies. Although Quibi made only five to ten minutes of episodes, it charged $4.99 per month.
With such a great mindset and planning, you might be wondering what went wrong with Quibi? Well, to clear this we have presented this article. Let’s get started!
Katzenberg and Whitman are incredibly successful businessmen but when it comes to streaming services, they don’t have the right instincts. This became clear with their ultimate creation- Quibi.
Quibi was launched in times of pandemic, 2020, with the concept of giving people good content of merely 10 mins which they can watch anytime and anywhere like a doctor’s waiting hall, public transport, and others. But what they forgot was all these could not be possible in the pandemic.
Quibi
Quibi entirely targeted the youth as they always find new content. But as the pandemic struck, people considered watching long-term content which was available on Netflix, Amazon Prime, and others.
The biggest cause of failure of Quibi is considered the awfully smaller audience and very few numbers of downloads. Apart from this, Quibi made many more mistakes like low social media presence and others.
Any video streaming platform requires content that keeps the users interested. Especially when it comes to the title, as that is what is going to convince the audience to watch the show and to subscribe to the platform. But, Quibi created a whole set of mediocre content that was not given any brief thought upon.
Although the developers spent a lot of money and effort but still could not pull out the standardized content. The shows on Quibi’s were extremely ordinary and the audience did not find anything interesting.
High pricing
Being such a mediocre content provider, Quibi’s pricing was pretty expensive. Its price was around $5 for a normal subscription and $8 for a non-advertising subscription. These were very very high for a terrible content provider such as Quibi.
Failed to Attract Audience
In today’s time, there are tons of platforms that are incredibly interesting and user-friendly. People are spending great time at Netflix, scrolling TikTok and Instagram. That’s why for any other similar company to gain an audience needs to provide such services that the users cannot refuse.
Quibi failed in providing such service and grew the users’ count on platforms like YouTube and Twitch.
No-specific Goal
Competing with Netflix and other streaming platforms, Quibi did not have any specified goal. With such bad content in comparison with other streaming platforms, Quibi needed something to beat the opponents.
But unfortunately, Quibi failed in all aspects of a good video streaming platform and did not even provide any valid or reasonable reason to convince people to download it.
Internal Problems
Quibi had major internal problems between the two founders. According to The Wall Street Journal, Whitman even threatened to leave when found out that Katzenberg was dictatorial which weakened her authority and humiliated her.
Apart from this, Whitman and Katzenberg, both didn’t have any idea on how people use their phones for streaming purposes. They did not actually understand the concept of Netflix and TikTok. In such wide competition in the market, one needs the proper strong strategies and planning so that it could thrive in the market. But Quibi failed on all grounds!
The Pandemic
The biggest drawback of Quibi was it came out in a pandemic. All the planning and strategies of Quibi were based on public places and gatherings. And these were highly restricted in the times of the Covid-19 crisis.
Quibi failed to adapt to such major changes and formulated a low social media presence and bad content without any effective marketing. The main reason behind all these failures was poor management, low insights on consumer behavior, needs, and wants.
Quibi was meant to be shut down even without the pandemic. The company did not have any proper functioning of management.
The company with no proper planning and ideology, Quibi was implied to fail. And that’s what happened! Quibi failed, basically from all aspects. With no adequate leadership, poor content, no customers preferences and extremely disturbed management Quibi was nothing but a disaster.
Although the founders invested a great sum of money but with no idea how a video streaming platform runs, it all became worthless.
FAQ
Who is the founder of Quibi?
Jeffrey Katzenberg founded Quibi in 2020.
How much money did Quibi lost?
Quibi lost over $1.75 billion in less than 6 months.
Why did Quibi failed?
The reasons why Quibi failed were vast. They included burning through too much cash, poor content, high prices, missing features, personal issues between the founders, as well as legal troubles.
Money is one of the most, if not the most important thing in human life. If one wants to survive and live a comfortable life in this world, money is the answer. Without money, nothing is possible.
Technology has been introduced in this world to make our life effortless and to be honest, it’s doing the job, quite well. In a time where we live, having those big pink and green notes with us is a necessity but carrying them all time is a headache.
Imagine bringing a bundle of cash just for some mere shopping, sounds risky and uncomfortable, right? Of course, another option like a cheque is also there but somehow it seems overdone.
Thanks to technology, now we have the access to get money directly from the bank anytime and anywhere. How? Well, the answer is the thin payment card also known as plastic money. Nowadays, payment cards are the go-to option for any kind of transaction.
The dynamic nature of these cards leads to easy and safe transactions. Now, one can just shop whatever they want by just having a card that can fit in the pocket of their jeans. It is definitely better than carrying a huge stack of money, which is not that safe and bothersome in addition. Credible ways for the online transactions as well, payment cards have now become a significant form of payment system in the world.
âWeâre talking about payments, customers care about shopping.â
By just having a card, credit, or debit, life becomes much more easier. Whoever has a bank account, that person is eligible to have a payment card. Although there are some rules that one needs to follow properly, to attain a credit or a debit card.
Credit Card
To be simple, with the help of a credit card, a person can purchase anything and can pay for that at a later time. Basically, it means one can just borrow money directly from the bank.
One needs to attain the age of 18 to get a credit card.
Every Credit Card has a limit, one cannot exceed that limit.
If by any chance the borrowed amount is not paid fully, then the remaining amount in the card will be charged with interest.
If a person cannot pay the full amount by the time limit, there is an option of EMI, where one can just pay a minimum amount for a time period.
Debit card/ATM Card
With the help of this card, one can withdraw money from the bank directly. It is derived from the deposited amount of the bank account.
One needs to be 18 to have a debit card. Although minors can also attain debit cards if they had their guardian open the bank on their behalf.
Every use of the card deducts the deposited amount from the savings account immediately.
Through an ATM that is open 24/7, one can withdraw cash, if they have a debit/ATM card.
The top payment card service system that rules the Indian financial service market are:
RuPay
VISA
Mastercard
RuPay
2012 was one of the prominent years for Indian financial industry. As RuPay, Indiaâs first multinational financial service and payment service system was started by the National Payments Corporation of India(NPCI). The name RuPay is obtained from two words Rupee and Payment. It is the first Indian card payment system.
RuPay cards are specially made for Indian Citizens. As of now, 1100 banks in India issue RuPay cards. It is internationally accepted in Singapore, South Korea, UAE, Saudi Arabia, Australia, Myanmar, Maldives, Bhutan and Bahrain.
Some of the special features of RuPay Card are:
The transaction cost is lower, as it will happen internally, so no additional cost.
All the transaction data of the consumers will remain in the country.
No separate registration is required.
RuPay Debit cards provide some exciting offers, including cashbacks.
VISA
This American multinational financial services organization started its journey in the year 1958 and was launched by Bank of America. It was first known as BankAmericard but later in 1976, it was renamed Visa. It is also the largest card payment organization in the world. With its spectacular tactic, it has captured 50% of the card payment market of the world. It is also considered one of the most valuable companies in the world.
Some of its attractive features are:
It is globally accepted.
Visa is used in over 200 countries.
There are various good Credit card offers provided by VISA.
It provides better rental car insurance.
Mastercard
Mastercard is also an American multinational financial service and more than 25,000 financial institutions issues Mastercard debit and credit card. Mastercard was first introduced in 1966 and at first, it was known as Interbank. It is considered the second largest, right after Visa, card payment organization in India.
Some of the special characteristics of Mastercard are:
Mastercard is accepted almost all over the world.
With just a simple phone call, your card can be canceled.
The cost protection service of Mastercard is way better than other cards.
It is free from any kind of unauthorized charges. Basically, it provides Zero  Liability Protection.
As per the order of Reserve Bank of India (RBI), Mastercard has stopped issuing any new debit or credit cards in India. RBI banned the financial service giant for not complying with the data storage rules it was asked to be followed.
With time and technological advancement, it is only fair that payment card has started replacing the big stack of notes. It is convenient and easier to use. Apart from that, it is comparatively safer as well. That small thin card holds a huge level of importance in our life now.
FAQ
Is RuPay Card Indian?
Yes, RuPay is an Indian Multinational financial services and payment service system.
What is the most Common Plastic Money?
Debit card is the most common form of plastic money.
What Are the Types of Payment Cards in India?
Debit cards, Credit cards, prepaid cards, and Electronic cards are mostly used in India for payments.
With passing time, people are becoming more responsible and fulfilling towards the environment. Many companies are taking initiatives towards working entirely for nature’s betterment. This brings us to a major contributor in the formulating environment-friendly methods and plans, which is a Cleantech industry.
The cleantech industry works for the benefit of the environment and improves active performance, productivity, and efficiency. This is done by reducing the inputs, costs, waste, and energy consumption, especially in the factories. And for this, India is known to be one of the biggest Cleantech industries with billions of investments along with Foreign direct investments (FDI).
The Cleantech industry basically includes companies that are allied with energy and water resources, and agriculture and manufacturing. On a side note, it’s also known as the Greentech industry. The Cleantech industry in India utilizes a huge range of technologies like renewable energy (biomass, wind power, biofuels etc), recycling, and others.
In fact, the government of India has taken several initiatives in order to support the Cleantech industry such as Wind bidding schemes, skill development, National Solar Mission, and many others.
In this article, we have dug deep into the history, present, and future aspects of the Cleantech industry. Let’s get started!
When it comes to India, the Cleantech industry has been growing with an uprising graph. India has always been very generous and upfront in supporting the cleantech environment. In fact, our country has great plans for increasing the renewable energy capacity up to 175 GW by the year 2022, said by Miss Gaganjot Kaur, Project Manager at the cleantech initiative at Swissnex India.
However, the government of India has changed this target to 225 GW by 2022 and has various plans ahead.
With this in mind, India has set up the goal to achieve up to 40% of its total energy requirement through the renewal of energy sources. This has attracted some very prominent investors overseas.
A few years back, in the EY Renewable Energy County Attractive Index 2018, India was ranked 4th. The energy market in India is prepared for both domestic as well as international ventures that are starting up to offer products and services in India.
Reasons and Growth Implementation for Cleantech Industry
Shortcoming of Natural Resources
Mostly, the natural resources are available in dense forest locations where mining is forbidden under the current environmental laws. This is causing shortcomings of natural resources which puts huge pressure on available resources. That’s why it’s very essential to protect the available resources.
Regulations by Government
The government of India is putting great effort into developing safeguarding regulations for the environment. Alongside, it has become very active in the implementation of such regulations by active social media and awareness of people.
In fact, India is to adopt a pro-environment standpoint in all the growth strategies.
Advanced technology
One thing that can bring a huge difference in the results of the Cleantech Industry programs is the usage of advanced technologies. This would surely help India in achieving the sustainable growth pathway along with the high growth of the Indian economy.
Latest Trends in the Indian Cleantech Industry
India is known to be the fastest-growing renewable energy sector among all the biggest economics across the world. India has set up the aim to rise to 450 GW in renewable energy sources by the year 2030.
Alongside the number of installed solar capacity has also enhanced with great proportions in the past decade.
In the year 2020, India witnessed great investment offers towards clean technologies especially in the areas of grid management and electric vehicle charging. Today, around 20-25% of startups in India are working towards the advancements of clean electricity.
In the upcoming years, the Cleantech Industry is set up to achieve enormous growth and advancement. With the rapid growth, depletion of resources, urbanization, and climate change the requirement of investments is very necessary for clean technology.
Many companies are being established to take the idea and usage of clean technology up forward and drive growth for clean technologies.
India has been investing billions into the Cleantech Industry that’s why it’s known to be one of the biggest markets in this prospect. The US and Western Europe have been transporting advanced technology for safeguarding the environment in India.
India offers pretty strong business outlooks for its foreign investors because of which some of the top companies are taking interest in the Indian Cleantech Industry.
Conclusion
India is working towards the Cleantech industry with great efforts and investments. The government as well formulating various regulations so that companies can easily purchase renewable electricity from the state distributors. And with the high demand for clean power to boost energy protection and reduction of pollution, India is becoming more developed in the field of clean technology. And that’s the main reason why some of the biggest environment-friendly investors are approaching the Indian Cleantech industry with great interest.
It can easily be concluded that the Cleantech industry of India has earned enormous growth and is expected to achieve more advanced technology and results in all aspects of the environment.
FAQ
What is the cleantech industry?
Cleantech refers to measures taken to reduce pollution or waste in the process to safeguard the environment.
What is the rank of India in renewable energy?
India ranks 3rd in the renewable energy market.
Which state is the largest producer of solar energy in India 2021?
Gujarat is one of the largest producers of solar energy in India, with its total installed solar power generation capacity reaching 4,431 MW as of 31 March 2021.
The Tesla and SpaceX chief, entrepreneur Elon Musk has become the world’s richest person, with his net worth crossing $200 bn, following a surging Tesla stock, as of September 27, 2021. Musk becomes the third person in the world to have ever crossed the 200 billion dollar mark.
Amazon founder Jeff Bezos, who was the first to reach the impossible $200 billion worth of valuation in August 2020, had suffered a decline in his fortunes by $1 billion and is no longer the richest man in the world. Bernard Arnault, Chairman and Chief Executive of LVMH was the next person in the world to achieve the same. Musk eclipsed them both to be worth $203.4 billion at the close of the markets on 27th September, Monday. Tesla’s shares were trading high for four months now, which went up by 2.2% at $791.36, the highest that the shares have traded since February 2021.
Elon Musk
Musk’s huge personal fortune comes mostly from owning 22.4% of Tesla and 54% of the space transportation company SpaceX. Musk’s net worth has grown over $200 billion – possibly one of the fastest instances of wealth creation in history. Amazon’s share price has witnessed a 0.6% decline on the same day, which catapulted the position of Elon Musk.
Elon Reeve Musk was born on June 28, 1971, in Pretoria, Transvaal, South Africa. His mother is Maye Musk, a model and dietitian born in Saskatchewan, Canada, but raised in South Africa. His father is Errol Musk, a South African electromechanical engineer, pilot, sailor, consultant, and property developer. He has a younger brother who was an early business partner of his, Kimbal (born 1972), and a younger sister, Tosca (born 1974), the CEO of the video streaming site Passionflix. During his childhood, Musk was an avid reader.
At the age of 10, he developed an interest in computing while using the Commodore VIC-20. He learned computer programming using a manual and, by the age of 12, sold the code of a BASIC-based video game he created called Blastar to PC and Office Technology magazine for approximately $500.
Education
Musk attended the University of Pretoria for five months. Once in Canada, Musk entered Queen’s University in 1989, avoiding mandatory service in the South African military. He left in 1992 to study economics and physics at the University of Pennsylvania; he graduated in 1997 with a Bachelor of Science (BS) degree in economics from the Wharton School and a Bachelor of Arts (BA) degree in physics from the College of Arts and Sciences.
In 1994, Musk held two internships in Silicon Valley during the summer: at an energy storage start-up called Pinnacle Research Institute and at the Palo Alto-based start-up Rocket Science Games. In 1995, Musk was accepted to a Ph.D. program in energy physics/materials science at Stanford University in California. He ended up dropping out of Stanford after two days, deciding instead to join the Internet boom and launch an internet startup instead.
Elon Musk has been reading a lot of books from his childhood. He grew up reading a couple of books in a day. He still reads a lot. Elon provide quite a lot of wisdom in his interviews or through his quotes. This is where he supposedly learned so much about entrepreneurship, science and life in general.
How Elon Musk Became the Richest during the Pandemic?
The title of worldâs richest person an extraordinary run for Musk and Tesla, even during a pandemic. At 10:54 ET, Tesla Inc’s shares were up 5.65% or 42.75 points at $798.73. A 7.9% rally in the electric carmakerâs share price on Thursday boosted Musk past Amazon.com Inc founder Jeff Bezos. Musk has said he has little interest in material things and has few assets outside his stakes in Tesla and SpaceX. Musk also passed Bill Gates earlier in November 2020 to become the second-richest person in the world. Increased rally in Teslaâs share price, which surged 743% last year with consistent profits, inclusion in the S&P 500 Index, and enthusiasm from Wall Street and retail investors alike.
World Richest Person
Tesla produced just over half-a-million cars last year, a fraction of the output of Ford Motor Co. and General Motors Co. Musk will have to show within the next five years that Tesla can make more profits than just about the whole of the rest of the motor industry combined to justify the valuation.
âI want to be able to contribute as much as possible to the city on Mars,â Musk said. âThat means just a lot of capital.â
The Tesla CEO saw his wealth grow in 2020 by more than $150 billion, in large part because Musk owns a lot of Tesla stock â about 20% of the company. Musk pulled the company out of the so-called âproduction hellâ and dramatically increased sales of its electric vehicles.
The billionaire CEOâs stock stash continues to grow, especially after he signed a major 10-year compensation package with the company in 2018 that further tied his earnings to Teslaâs stock price and revenue goals.
Musk was criticized for repeated attempts to keep Teslaâs plant open and then for bringing workers back onto the line as covid-19 raged, and cases were even reported inside Teslaâs facilities. Teslaâs stock appeared to have bottomed as well as concerns about Muskâs leadership. By 2019 Tesla faced concerns over demand, mounting losses, and a shortage of cash â and its stock dropped to a near-term low around June 2019. Analysts warned the stock could be valued too highly as Tesla took the title of the worldâs most valuable automotive company.
Muskâs success hasnât been limited to earth. In May he oversaw the successful launch of a pair of NASA astronauts into space with his other company, the aerospace outfit SpaceX. It was a landmark achievement for the company that aimed to show rockets could be deployed and reused, demonstrating the viability of a new era of space travel with the ultimate goal of flying humans to Mars.
Musk made his fortune early on with PayPal, which he co-founded and whose sale to eBay led him to pocket $165 million. He invested in Tesla in 2004, a year after its founding, and maintains around a 20% stake in the company.
Musk founded SpaceX two decades ago, setting his sights on Mars and aiming to disrupt an industry deeply entrenched in the government with a private venture focused on human spaceflight. Muskâs wealth stood at $37 billion in 2020. That means Musk added at least $148 billion more to his fortune over a year. The growth in Muskâs portfolio over a year is more than the entire net worth of the worldâs third-richest person, Bill Gates, according to Bloombergâs figures: $132 billion.
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Companies Founded by Elon Musk
Zip2
In 1995, Musk and his brother Kimbal along with Greg Kouri started Zip2, a web software company, with money raised from a small group of angel investors. Zip2 allowed for two-way communication between users and advertisers. Users could message advertisers and have that message forwarded to their fax machine. One Zip2 product was called “Auto Guide“. AutoGuide connected online newspaper users with the local dealership or private party car sellers.
X.com and PayPal
In March 1999, Musk co-founded X.com, online financial services, and e-mail payment company, with US$10 million from the sale of Zip2. One year later, the company merged with Confinity, which had a money-transfer service called PayPal. The merged company focused on the PayPal service and was renamed PayPal in 2001.
Space Exploration Technologies Corp. (SpaceX) is an American aerospace manufacturer and space transportation services company. It was founded in 2002 by Elon Musk to reduce space transportation costs to enable the colonization of Mars. SpaceX has developed several launch vehicles, as well as the Dragon cargo spacecraft and the Starlink satellite constellation (providing internet access), and has flown humans to the International Space Station on the SpaceX Dragon 2.
Tesla
Tesla, Inc. (formerly Tesla Motors, Inc.) is an American electric vehicle and clean energy company. According to Musk, the purpose of Tesla is to help expedite the move to sustainable transport and energy, obtained through electric vehicles and solar power. Tesla ranked as the world’s best-selling plug-in and battery electric passenger car manufacturer in 2019, with a market share of 17% of the plug-in segment and 23% of the battery-electric segment. Tesla’s global vehicle sales were 499,550 units in 2020, a 35.8% increase over the previous year. In 2020, the company surpassed the 1 million mark of electric cars produced.
SolarCity
SolarCity Corporation is a subsidiary of Tesla, Inc. that develops and sells solar panels and solar roof tiles. By 2013, SolarCity was the second largest provider of solar power systems in the United States. In 2012, Musk announced that SolarCity and Tesla would collaborate to use electric vehicle batteries to smooth the impact of rooftop solar on the power grid.
Hyperloop
On August 12, 2013, Musk unveiled a concept for a high-speed transportation system incorporating reduced-pressure tubes in which pressurized capsules ride on an air cushion driven by linear induction motors and air compressors. Hyperloop One, a company unaffiliated with Musk, announced in July 2017 that it had its first successful test run on its DevLoop track in Nevada, which had lasted 5.3 seconds and reached a top speed of 70 mph.
The Boring Company
In December 2016, Musk founded The Boring Company after growing frustrated with traffic in Los Angeles and the limitations of 2-D transportation networks. The startup aims to create subterranean tunnels that allow pedestrians, freight, utilities, or autonomous electric vehicles to circumvent traffic on surface roads to more directly get from A to B. The Boring Company has also made news by selling 20,000 flamethrowers to consumers, which made the company $10 million in revenue.
Neuralink
In 2016, Musk co-founded Neuralink, a neurotechnology start-up company to integrate the human brain with artificial intelligence. The company is centered on creating devices that can be implanted in the human brain, with the eventual purpose of helping human beings merge with software and keep pace with advancements in artificial intelligence. These enhancements could improve memory or allow more direct interfacing with computing devices. The company wants the devices to give people the ability to communicate via text or speech synthesis, surf the web, or to express their creativity through photography, art, or writing apps.
OpenAI is an artificial intelligence research laboratory co-founded by Musk in December 2015. OpenAI is seeking to build a machine with human intelligence while prioritizing transparency and safety. The tool, dubbed âthe API,â allows businesses to directly access OpenAIâs powerful general-purpose text generation AI, which has been trained on trillions of words from the internet.
Future Plan of Elon Musk
Musk tweeted in January that the goal of his Starship transportation system to Mars will be to launch each of SpaceXâs reusable Starship rockets about three times per day, on average, while carrying a 100-ton payload on each flight.
Musk might narrowly complete a Tesla Gigafactory in China around 2020, which would begin EV production by 2021. The plans to build a manufacturing plant in China goes hand-in-hand with the countryâs efforts to have more EVs on the roads by 2030. Together with a Gigafactory, Tesla also plans to put up 1,000 superchargers in China.
Musk plans to send a SpaceX rocket to Mars, with cargo only, by 2022, according to the SpaceX website.
A second mission, which would take more cargo and crew, is targeted for 2024. Musk has also said heâll send a million people to Mars by 2050.
Musk talks about his evolutionary plans for a 3D Network of underground tunnels to alleviate traffic congestion. âTraffic affects people all over the world and it takes away so much of your life,â he explains.
Underground Tunnel
All transportation, except for rockets, will be powered by electricity.
The Boring Company, Musk’s tunneling venture, aims to reduce the costs of tunnel construction.
In February 2018, Musk said SpaceX no longer had plans to certify that rocket for human spaceflight and it would use its Big Falcon Rocket for tourism instead. The trip is now scheduled to come as soon as 2023.
Humans will have brain-computer interfaces as soon as 2025.
The internet seems like a beautiful space, colorful with a wide variety of images and videos that allows every one of us to have our fill. But, do you know where all these exciting images and video contents come from?
Yes, there surely are countless individuals who upload them on a daily basis on various platforms including the latest social media platforms and other image and video sharing platforms, which further encourages the uploader and brings their content in front of the masses.
Flickr is one of the big names when it comes to image and video sharing platforms. Founded back in 2004 by Stewart Butterfield and Caterina Fake of Ludicorp and headquartered in San Francisco, California, U.S, Flickr has changed multiple ownerships but has never dropped from relevance for the internet users the world over. However, the celebrated image and video sharing platform has seen a severe drop in its revenues lately due to the user base, which is mostly based out of free users.
Flickr is currently owned by SmugMug since April 20, 2018 and has proudly hosted more than 112 million registered members that also back in June 2015.
Read this StartupTalky article below to know more about Flickr, its Business Model, Features, Sharing, Tips, and more.
Flickr is an popular American image-hosting and video-hosting platform and hosting service with some advanced and powerful features. Flickr can be defined as a social network where users can create a free account and upload their own photos (and videos) to share with friends and followers online. Flickr also has a pro service where you can get an unlimited storage, making it one of the cheapest hosting sites around.
Flickr was founded in Canada and created by Stewart Butterfield and Caterina Fake. Launched on February 10, 2004, it has its headquarters in San Francisco, California, US.
Flickr Architecture| Presentation
Flickr Business Model
Flickr works as a B2C platform and a freemium business model. The platform offers its basic features for its customers for free. However, in case they need to avail additional features, then the customers can go for:
Monthly plan – Chargeable at $7.99/month.
Annual plan – Chargeable at $5.99/month.
3-Month Pro – Chargeable at $21.99 per 3 months.
Key Partners
Flickrâs key partners consist of Yahoo parent company, Verizon Communications, which acquired the company back in 2005 and others.
Key Activities
Flickr encourages numerous activities that the users can take part in, including photo sharing, video sharing, photo and video hosting, browsing through its wide collection of photos and videos and more.
Value Propositions
Find your inspiration, Free basic photo sharing, Premium photo sharing and more that the users can find while using Flickr are among some of the value propositions offered by the platform.
Customer Relationships
Flickr provides online communities and other groups on numerous social media and other platforms to improve customer relationships. The platform also offers numerous other options to flag a particular content and make it public or private.
Customer Segments
Flickr includes casual users, advertisers, entrepreneurs, developers, and other business professionals, who use the platform for their regular usage.
Channels
Flickr channels can be categorized under:
Flickr.com
Yahoo.com
App marketplaces
Android
iOS
APIs.
Features on Flickr
Like any other media platform, Flickr has a wide range of features that are very important for everyone to understand to navigate the platform comfortably.
Just like almost all the people have their profiles on Facebook/Instagram, they can also create their profiles under the Profile option on Flickr.
2. Gallery
We can think of Flickr Gallery like that we have our âphoto albumsâ on Facebook. The key difference between Facebook albums and Flickrâs Gallery is that we can add other usersâ media to our gallery.
For instance, suppose you like a certain photographer and you want to showcase the work in your gallery. You can do so by adding them to the Gallery of Flickr.
3. Photostream
Your Photostream is a collection of media files that solely belongs to you. We can relate this to Facebook. In Facebook we have two options we can decide whether we would show our media files to the public or keep them private. The same thing can be done in Flickr also. If you choose public, then the others can visit your profile and see what you have uploaded. On the other hand, if you choose private, then only you and those you have permitted will be able to view your content.
4. Albums
One interesting feature of Flickr is the Albums option, which helps them organize photos in the form of albums. This is easy for all the users who visit your profile because this way they can easily understand and identify the specific albumâs photos.
This feature also greatly helps the users to organize their own photos and cut down the time they need to locate them. The Albums also help the profile of the users’ ooze of the impression that their photos are organized and not jumbled up, which might also make for useful portfolios. Furthermore, it is really an effective feature for professional photographers and other businesses and business professionals to group in their photos properly even for multiple projects..
5. Faves
When you use Flickr, you might stumble upon an image that you wish to work on later and therefore, save it for the same reason. Now, if you âstarâ or favorite a photo on Flickr, it automatically appears in the âFavesâ tab on your profile, which is another useful feature that Flickr provides its users with.
6. People
It is really fun to connect with people virtually on different platforms, and Flickr is not an exception. Yes, in case you have many friends, you can simply connect with them on Flickr.
You will be able to connect with many people on this website, similar to what you do on the other social media platforms. You can add people directly through Flickr, whose profiles are shown in your Follower/Following count on your profile.
7. Stats
Engagement is key on any media platform. Flickr offers statistics to all of them who are viewing your content and how they have found you. This is another significant feature for all of them who are just starting and want you to grow their brand or followers.
Once you have uploaded a photo on Flickr you donât need to rely on articles like any other platforms. Instead, you can use tags to categorize and search for photos. People often tag pictures with names, locations, event descriptions, and theme, for example: “Mountain”, “Everest”, “Cold”, and “Vacation.”
There are several ways to tag pictures, either one at a time or in batches. On any given picture, click the code and add a tag option on the right-hand side. Flickr lets you add up to 75 tags to each picture.
Advanced Tagging
To tag multiple photos, you can use Flickr’s batch editor. For this, you can simply go to a Set (Album), click the Edit button, then Batch operations>Batch edit>Add tags.
Geotagging
Geotagging is a special process by which you can tag photos with the location. To Geotag any photo, click on âPlace this photo on a mapâ, under the additional information box on the right-hand side of the paragraph. The easiest way to add a location on a photo is to search the location in the top right-hand corner. If you don’t not find the location, then search on Google and paste the location in the search box.
Flickr – Sets
There are few ways to create a set on Flickr. The easiest way to create a set is to Add to set button on the top of any photo. Then, Flickr will have the list of other sets dropped down, which you have created along with an option to create a new set. You can even name the set, and then describe the set after you are done.
If you add multiple photos on the set, you need to click the Organize button on the top menu on any page on Flickr, then select â Your setâs and collectionsâ. Now, you need to pick any set whichever you want, and add to that. Furthermore, you can also go on to create a new one also.
You just need to note done one thing that if you are a free member, you can only add up to 3 photos, but as a pro member, you can have unlimited photos.
With Flickr Collections, you can add multiple sets to one collection. This feature happens to be really handy for anyone, who loves traveling or has to travel to different places all the time. The Collection feature of the app will help him or her get all the photos under one collection.
Flickr functions
Flickr – Sharing
âShare your photos. Watch the worldâ is the motto of Flickr, which was once hailed as the worldâs largest photo-sharing website. Flickr is all about sharing. The reason to add tagging and other features is that other people can find and make use of those photos. Furthermore, you can also share your content on various sites including Facebook, Tumblr, Twitter, and Pinterest.
How to Share Photos Using Flickr
Free Flickr vs Pro Flickr
Free
Pro
Upload limit 100 MB
Unlimited uploads
Only 3 sets
Unlimited sets
Cannot access the full version of photos
Have access option
No Discounts
Partner Discounts
Ads
Ad-Free browsing
Stats
Advanced stats
–
Premier Product Support
–
More partner Discounts
–
Advanced Stats on Mobile
–
Increased Exposure
–
New 6K Photo Display Option
–
10-Minute Videos
Tips for beginners to get the most out of Flickr
If you are a beginner and you are now looking forward to start using Flickr, then here are some quick and effective tips to keep in handy: Â
Try to select appropriate photos carefully before uploading them.
Make sure that you resize and compress the photos before uploading them.
Connect with friends, join relevant groups and most importantly, add precise and relevant tags to your photos.
It’s always better to subscribe to your photo’s comment feed.
Customize the privacy settings on your photos accordingly.
The products and services of a brand need to reach its audience to make a name for itself. Â Not everyone is your customer, so to reach the potential customers, to make them aware of your presence, Marketing is needed.
The word is not that simple as it looks; one needs to follow the proper concept that is needed to be done to promote the products and services of that brand. Strong marketing tactics can do wonders for a brand.
One of the major parts of marketing is advertising. When you advertise products, you create demand for them amongst the audience and make them aware of the brand. We get to have the idea of a brand through Billboard, Television ads, radio ads, or just while scrolling through our social media, somehow or the other the best ones always left an impression of them in our mind.
Advertising a product or service will get you to your desired result but it all depends on how you do that. Media is through which, advertising is possible and one needs to learn how to use it properly to get the best result possible.
To get inside the head of the consumer, one needs more than just a catchy slogan, a bonafide message has to be created through that advertisement with an accurate price, which depends on the budget of that marketing campaign.
To get an advertisement one needs to buy the space of that medium, which they are going to use to communicate with the audience. It is done through Media buying, it is paid marketing, that is whatever tactic will be chosen for it, and the client needs to purchase that. In the following article, we will learn about media buying and if it is a good bet for your brand.
“Nobody counts the number of ads you run; they just remember the impression you make.”
Media buying is all about buying space on mediums of advertisement that will be able to communicate with the targeted audience within a given specific timeslot and within a minimal amount of money.
This is a long process as it includes researching and negotiation in deciding about the placement and the price of the ads. The medium can be television, radio, newspaper, magazine, outdoor advertisement, Social Media, blogs, websites.
Media Buying And Research
Medium buying is a complicated process, before investing one needs to do a lot of research. The research includes,
Finding out who is the target audience, their income, and basically the geographic and demographic research.
Then comes the budget, one of the most important factors, if not the most. It decides if itâs going to be a regional or a national market, where the advertisement will be shown and for how much time.
The next step is choosing the best media outlet from the vast option to reach the desired results.
Negotiation Process of Media Buying
The next process after the research is negotiation, which means coming to a conclusion at the best deal possible. The negotiations are of two types and they bare:
Zero-Sum Negotiation- Here, one or both parties are not able to come to a conclusion because they are not willing to settle with the given conditions in the agreement. This is not good for the company and will quite possibly create an unhealthy relationship between the client and the media company.
Integrative Negotiations- In this both the client and the media company work to achieve the best result that will satisfy both the parties’ goals.
There are two ways to buy media for your brand and they are direct buy and Programmatic buy.
Direct Buy- It includes finding the publisher, negotiating with the publishers, buying the space, and then having the advertisement on the chosen platform directly.
Programmatic Buy– This process is done through automated technology that is real-time bidding. Here the advertisers offer space for the advertisement and the highest bidder occupies the place for its products and services.
Why Media Buying is Necessary?
This is basically done so that the brand can get exposure for a period of time and so that whatever the company is investing in this, they can get a good return from that investment in a form of profit. Media buying is a very essential part of marketing today. It is needed for:
To reach the target audience at a perfect time and place and have the chance to turn the potential customers into actual customers.
If the right strategy is followed a large number of target audiences will get exposed to the brand at a very reasonable price, paid by the company.
The company will stand out and will give a tough fight to its competitors. Constant ads will help in getting the attention of a maximum number of people and making them talk of the town, thus increasing the chances of sale of the companyâs products and services.
The agencies here supervise the media buying process and choose the best possible option for the client so that their aim can be achieved. Some of the top media buying agencies include:
OMD
Mindshare
Carat
MediaCom
Wavemaker
Starcom
Spark
Bidsopt
Socialiency Advertsing
Amazon DSP
The Trade Desk
AdColony
Google Display & Video 360
Conclusion
The marketing process has become extremely competitive; several same products of different brands exist. To make the brand stand out amongst all those, proper marketing is needed.
Medial buying helps in planning and carrying out a valuable marketing campaign that will benefit the brand by increasing its sales and imprinting its existence in the minds of the consumers. The media buyer analyzes all the factors and decides which platform is best for the brand to get recognition at a minimal cost.
FAQ
What are the most important rules of Media Buying?
The three most important rules of media buying are, using the correct form of media, placing the advertisement at a correct place, and targeting the right audience for the product or service.
What are Media Buying Platforms?
Media platforms include Websites, YouTube, Social media, Radio, Television, Newspapers, and other advertising media.
What is media buying?
Media buying is all about buying space on mediums of advertisement that will be able to communicate with the targeted audience.
For instance, People love to eat French fries, burgers, waffles, pizza and doughnuts as a result many MNC fast-food restaurants have incorporated in India such as KFC, McDonaldâs, Dominos, BurgerKing and Dunkinâ Donuts. But, some businesses arenât going well in India due to its waning survival factors in the market. Pertinent, Dunkinâ Donuts is one such MNC, that didnât go well in operating profit in India.
Dunkin Donuts is known for its recipe in preppering coffee and doughnuts as well as a quick-service restaurant worldwide. The company initiated their services back in 1950 in Quincy, Massachusetts and was founded by William Rosenberg covering over 12000 stores all over the world.
Why didn’t Dunkin ‘Donuts do well in India?
Usually, Indians follow a soft food diet for breakfast, whereby kichadi or idly is considered to be palatable food to have first thing in the morning. Meanwhile, nobody is willing to consume sugar-contained fast food for breakfast, repercussions may leave you an upset stomach.
Thatâs where, Dunkin Donuts incorporation made its existence in India in 2012, intending to thrive the sale of doughnuts and coffee all over the nation. But ultimately failed to perceive the Indian food culture which they have followed for centuries.
Dunkin Donuts’ menu is somehow sound tedious for Indians, as the restaurant serves doughnuts  as their main dish. Where we prefer eclectic food to one ilk of food with different flavours.
For instance, KFC contains a variety of fast-foods such as burgers, salads, wraps, Chicken wings, Beverages, sandwiches and more. Whereas Dunkin Donuts menu follows a confined food list for the customers that ends with no choice and go for doughnuts.
Dunkin Donuts
In order to thrive in the Indian food market, KFC played well in bringing up Indians’ favourite item- Chicken buckets that hyped the margin of the company till now.
As said, Indians usually go for savoury food, as India is largely known for spices, masalas and curries. They prefer eating Dosa, paratha or idli in breakfast and not something sweet like doughnuts. Moreover, India follows different cuisines in different regions, where Dunkin Donuts overlooked the expectation of people in fast food. Whereas, we prefer chai (Tea) to some iced beverages or espressos.
Indian Food – Dosa, Idli, Medu vada
Price
Price is the main factor, which determined the burgeoning branches of Dunkin Donuts in India, where the brand sells two doughnuts whose average cost is around 600 rupees, which is quite overpriced when compared to the budgeted price of an average salary individual.
Paradoxically, Starbucks- The worldâs largest coffee house, succeeded in its market in India even though the restaurants have premium-priced products, where the company agreed to a joint venture with Tata and operated over 2000 stores in India.
Spicy and flavourful foods are what Indians love to have. Doughnuts are not the food the Indians would like to consume often. Dunkinâ Donuts is one of the biggest coffee and food chains in the world. And it is booming in other countries, but Dunkinâ Donuts didn’t understand the taste of Indians. People here prefer spice over sweet.
People love trying new food, so there are still chances for doughnuts in the market. But will Dunkinâ Donuts get prosperous in India like the other countries is a question that only time can answer?
FAQ
Who owns Dunkin Donuts in India?
Jubilant FoodWorks owns Dunkin Donuts in India.
What is Dunkin Donuts?
Dunkin Donuts is an American coffee and doughnut company.
Who is the founder of Dunkin Donuts?
William Rosenberg is the founder of Dunkin Donuts.
The Fourth Industrial Revolution (4IR or Industry 4.0) is on the verge of happening. It is believed that the revolution will have a great impact on human life and put the human race far ahead. According to the experts, certain chores like washing clothes and dishes have already become more convenient due to technological revelations. It is expected that it will continue and eventually reach the point where most people will save almost two hours a day leading to over 15 hours a week or more than 33 days a year on doing chores.
The global market for Robotic Process Automation (RPA) is anticipated to reach US$8,781.2mil (RM370mil) by 2026. RPA will eliminate manual errors and reduce the time needed for daily processes. RPA will also reinvent careers, shifting from task-based roles to leveraging human adaptability and problem-solving. New job opportunities are anticipated with a growing demand for RPA professionals.
Helping Hand For Your Household Chores
Today, drones are well known as data capture devices with a camera. Drones are valuable for their combination of mobile hardware and internet connectivity. VCs have invested a total of$1.5 billion since 2012 in drone commercial startups that are shaping the industry. But in the future, weâll see them perform the full lifecycle like capturing data, analyzing this information, and then acting on it. Weâll see agriculture drones protect huge fields, detect weeds and other issues follow up by sending commands to drones that can spray a herbicide. These future technologies in homes will be very helpful.
Drones are being used to quickly deliver goods, broadly study the environment and scan remote military bases. Drones have been employed in security monitoring, safety inspections, border surveillance, and storm tracking but drones that run themselves require some level of artificial intelligence to guide their actions on the proper path.
Todayâs drones are still limited by their human controllers but the next generation of drones will be powered by artificial intelligence. AI will allow drones to make decisions and operate themselves on the behalf of their human controllers. Improvements in drone technology, the evolution of AI and improved algorithms will make drones more useful.
Similarly, another technology – Augmented Reality (AR), which superimposes an image onto a userâs view of the real world and enhances it with sound, touch and even smell, will play a vital role in the future. Big brands have already started using AR outreach but it still needs momentum from creators, developers and marketers to make it accessible for anyone and everyone.
These technologies will be highly used for household purposes. As consumers become more comfortable with AR, their presence will become a more continuous expectation. Experts have given their top predictions for what house technology will revolutionize home living in the near future. Not only this, even changing bedsheets, watering plants, plumping up pillows and ordering food are also expected to be automated. According to futurologists, around 90% of household chores will be automated by 2040, thanks to robots, drones and AI.
Some of the future technologies that would help us do the housework are discussed below.
Today, even though robots are being used for many purposes such as in industries, airports, medical, etc., they havenât become part of houses yet. But it is predicted that in the future, robots will start appearing in households by 2030. They may cost around ÂŁ25,000 at first.
These robots will be able to perform all types of household chores that we humans do today. The bots will be able to load the dishwasher and put away pots and pans, fold the laundry, change sheets and move furniture and so on. These robots will be self-training bots which mean humans donât need to teach them how to perform a particular task.
Multi-Function Drones
Drone is supposed to be the future of parcel delivery.
It is expected that the tiny drones will be commonplace in the 2030s and they will be priced around ÂŁ1 each. These drones will also help in performing households chores to save time and effort. These drones will have lights, sound, cameras, microphones, sensors, robotic arms, wave cancellation technology, or wave enhancement technology.
Drones are distributed sensors that make the internet smarter. They can serve as a platform on which different applications, software, and business models can be built. These drones will pick up dirt and clean surfaces, with variations and also be able to water plants and monitor security around the home. Some drones will shine an infrared beam at a room’s occupant to warm them as they move around the house.
Artificial Intelligence Butlers are coming to do all your household chores.
As mentioned above, house robots will perform many in-house tasks. Similarly, Artificial Intelligence Butlers will be one of the biggest game-changers. They are best imagined as extremely advanced versions of Siri or Alexa. This will be teachers and trainers also.
The AI Butlers will take control of all the routine life of human-like paying bills, managing subscriptions, doing your shopping and constantly monitoring ways to save time and money for humans. This will also serve as personalized practice partners to help with homework and reinforce what children have learned that day in school.
Reverse Microwave
As the name itself suggests, unlike today’s microwave oven, these ovens will be designed to cool things down in seconds so wines and beers can be chilled in seconds rather than hours. This is expected to be one of the coolest inventions in the future.
According to experts, this product has already been in the developing stage. The company developing this product has named Juno. This product is currently at the testing stage, having been previewed at many tech shows. The product was developed in order to rapidly chill white and red wine using âreverse microwave technologyâ.
The gadget is capable of chilling a full-size, 75cl bottle of white wine to 50 degrees Fahrenheit (10 degrees Celsius) in just three minutes, while a bottle of beer can be cooled to the correct serving temperature in less than a minute. Juno can also be used to chill soft drinks including coffee and canned fizzy drinks.
It features just three controls, which come pre-set for the recommended red and white wine temperatures, with an additional option to customize your preferred chilling level.
Ensuring good sleep and cushions, these pillows are re-plumped when someone gets up from the sofa or bed. These are already being sold in markets but in the future, it is expected to have good quality and precision in this technology.
With the rise in sleep technology and a number of new bedding and mattress companies launching on the market, there’s never been a better time to take stock of how you sleep and what you sleep on.
Washing Balls
These Washing Balls might replace Washing Machines in Future.
A washing ball is nothing but a tennis-ball-sized ultrasonic device that uses ultrasound to clean. It is also known as a laundry ball and is a product promoted as a substitute for laundry detergent.
This ball will be placed inside a pile or bucket of clothing to clean clothes without the need for a bulky washing machine. These balls will be environmentally friendly alternatives that can reduce water and energy consumption.
Super Smart Fridges
There are already smart fridges in the market but Super smart fridges will learn what you eat. They will be able to reorder when stocks are low and even recommend recipes based on the contents of what you like and tell you expiry dates of what’s in your fridge. They will also have Alexa built-in, which makes the kitchen chores easier.
Most of these fridges will have a super wide-angle camera mounted inside the fridge so that you can see what you have right from your smartphone when youâre at the grocery store. So you donât need to worry about making a grocery list before going shopping.
3D food printing is able to make dishes from different pastes and materials, so it seems we are getting closer to the science-fiction concept. Such innovations are already being offered by different manufacturers: 3D Systemsâ ChefJet, Natural Machinesâ Foodini, BeeHexâs Chef3D, etc. These are all machines that can make chocolate, pasta, sugar and even more dishes.
This technology was first developed for 3D food printing in space travel. In 2006, NASA began researching 3D-printed food. If we take a look back at our world, we can see that there are many opportunities to use technology in the food industry. Many companies have recognized the opportunities and are taking advantage of 3D printing different foods, from sugar and chocolate to pasta and vegetable mixes.
Virtual Chefs
Virtual Chef will help you with cooking techniques.
This is an application of Augmented Reality(AR). Augmenting the physical world with interesting and shareable content has been the focus of AR in experiential marketing. In the next 20 years, we will see virtual chefs appear as holograms to help us cook every step of the way.
Augmented and virtual reality play naturally into this shift. Both are vehicles to activate all senses and immerse the consumer within a specific branded experience. AR experiences in particular have seen growing traction for use during food & beverage events.
A robotic Lawn Mower will automatically cut the grass without human intervention.
To many homeowners, lawn mowing is such a tormenting task. This robotic lawn mower is a fine piece of modern technology that will reduce your time as well as the energy you spend on mowing the grass by sickle. It is quite convenient and easy to use. Now, you need not juggle between your other household chores, you can simply input the settings and the device will automatically cut the grass.
When buying a robotic lawn mower, you can consider the following things:
Robot Vacuum will help to minimize the amount of work that homeowners need to do.
Keeping your indoor environment is quite a hectic and tedious task especially if you’re an office goer or busy type of person. In order to keep your indoor environment clean and healthy, frequent vacuuming should be part of your housekeeping routine. It helps to reduce the amount of dust, mites, mould spores, and other pollutants settled on your floors, carpeting, and upholstery.
But thanks to todayâs advanced technology, we have robot vacuums in the vicinity. It is easy to use, noise-free and autonomous cleaning as main advantages. They are efficient at keeping your tiles, carpets, and wood flooring free from debris and different kinds of dirt. Some of them are so advanced that you can monitor them via an app on your phone. Just choose a starting spot, set the timer, program the cleaning space, and you are good to go.
Frequently Added Questions – FAQs
What technologies will be used in the future?
Artificial Intelligence (AI)
Augmented Reality
Big Data
Bioprinting
Cloud Computing
Genetic Engineering
What will be the role of artificial intelligence in future smart homes?
Artificial intelligence (AI) will play a vital role in this effort by using dataâincluding grid data, smart meter data, weather data, and energy use informationâto study and improve building performance, optimize resource consumption, and increase comfort and cost-efficiency for residents.
What is the future of smart homes?
According to Statista, the future of smart homes is exciting â there will be around 31 billion devices connected to the internet by 2020, and that number is supposed to grow to 75.4 billion by 2025.
Yash Gupta
