Thanks Ian! This is super interesting. I think this organization is one that could scale. It would require starting with projects that are relatively similar though. However, once the business gains traction, it would be possible to start crowdsourcing new ideas from investors. I agree with TOMGirl29 that once the company aligns crowdsourcing of funds with the crowdsourcing of ideas, Neighborly would provide a benefit to both networks that can help it scale. In fact, at that point, the business would likely benefit from scale, increasing the chances that municipalities are able to get sufficient investors for their projects and that investors are able to find a project they want to invest in. Although scale may require Neighborly to set some guidelines / disclosure requirements, I think the company can maintain significant flexibility regarding what projects municipalities put on the platform.
Open innovation in the pharmaceutical space is a super interesting concept. In recent years, a large portion of large pharma’s compounds / ideas have been acquired from smaller biopharma companies, which have more flexibility to pursue new ideas (pharma’s version of open sourcing). So, continued partnership with large pharma may very much be possible, particularly if CO-ADD has some edge to attract ideas and has greater efficiency in screening compounds. In fact, I was surprised to hear that established pharma companies are pursuing open innovation concepts with researchers because that would force them to spend more time earlier on in the drug development process. However, if the pharma companies make similar platforms, it may be difficult for CO-ADD to compete given its lack of track record taking a compound to the finish line.
Super interesting post! It is interesting that Boeing is facing issues due to risk and number of orders. I would have thought that Boeing would face these challenges will all improvements. How does Boeing handle testing other innovations? Would it be possible for Boeing to start by duplicating certain parts just to see how the parts will actually perform in space and then gradually using only 3D printed parts? Understand that this will cost more. However, I think regardless, this will take significant investment from Boeing or the government (thinking about how the space programs started). Though, costs could potentially be spread if they partner with other satellite manufacturers.
I think using 3D printing to customize cars will enable people to feel a stronger connection with their cars. However, as Caroline Schubach mentioned, as we shift towards autonomous ride-sharing vehicles, people’s connections to their cars will likely be less strong. Thus, I think 3D printing customized car parts will likely stay in the niche market of more expensive cars (& for people who really care about cars) especially because the customer has to spend more time thinking about exactly what they want their car to look like.
Regarding the question on would I feel comfortable with printing my own car part, I think I would feel comfortable with printing the car part. However, there is still the matter of installing it and the frequency that I would use 3D printing.
Very interesting post! I’m surprised to hear that Mindstrong is able to identify people’s mental health through their types, taps, swipes, and scrolls. Do people with, for instance, depression really interact with their phones in similar ways? People start off with such different smartphone usage habits, so I’m guessing the app tracks how usage changes. Additionally, it will be interesting to see how this technology adapts as smartphone usage (the baseline) changes. I would also be curious to learn about how knowing you have this app running on your phone alters how people interact with their smartphones.
PepsiCo produces many drinks and foods that the typical consumer would not know are made by PepsiCo. Therefore, I don’t think it would be too far off from its main line of business as long as it isn’t marketed under a current brand or (as we learned in marketing) the campaign isn’t too edge/viral. But, I do think the company will need to maintain some separation between a current brand and new “healthy” brands. As for being a trend follower / trendsetter, I do think there are flavors out there that people aren’t even talking about yet. These tastes would not be picked up by AI. However, I’m more concerned that AI would identify taste combinations that just wouldn’t work for certain products. Product development needs to be super careful about that.
Great post! I agree with TOMGirl29. I think this is another situation where people may not know what they are looking for next. Using machine learning to identify components of hit songs and then working with artists to apply those elements could cause different songs to start sounding similar. It also may make producers less willing to bet on a new concept. Finally, I think artists tend to be fairly creative people who want to hold onto their individuality, I would be very curious to hear their responses to Spotify’s suggestions.
Very interesting post! Regarding 1-800-FLOWER’s ability to compete with Amazon, Google, Facebook, or Apple, while I agree these companies are a threat, I also don’t believe they will spend a significant portion of their time on the fresh flowers / gift baskets business (at least not in the meantime). Additionally, the company’s access to data on what makes a good gift could give them the ability to develop an edge in the meantime. However, the other thought I had was does incorporating AI into the gift giving / relationship building business start to make these gifts less meaningful? I almost compare it to saying “Happy Birthday” on Facebook (due to the reminder). Does it start to mean less?
Great post! As an avid Netflix viewer, the “choose-your-own-ending” format really appeals to me and seems like an innovative use of both machine learning and open innovation. However, do you think it only works because the story lines for Black Mirror are contained to one episode each? Would creating too many decision points become too costly? Additionally, creating these alternate versions only tests a very limited number of scenarios. Creating one episode shows and seeing what people gravitate to may provide similar insights. Alternatively, Netflix could run a crowd sourcing campaign where they ask viewers how they would respond and pick the most popular / interesting ones to film (though turnaround time here could be very slow).