Industry Leaders Magazine Q3 2017

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editor’s NOTE

by Anna Domanska

On the Wall Street, ‘money talks’. Many believe hedge funders have had a horrible year, but that can’t be true. From banking to buyouts, movers and shakers in the world of finance have tried to bring balance in what happens to be a very tumultuous year.

These hedge fund managers, lenders and private equity moguls are a far more vocal and influential group than any other on the planet. They do not just control people or resources, but are a potent combination of money and influences that is much needed to shape the world. They control trillions of dollars around the global economy, which impacts about all of us in one way or another. The true outliers make day-to-day decisions that affect millions, shake industries and change economic power. Industry Leaders Magazine has compiled a list of top leaders in finance industry – billionaires, CEOs, and heads of state. Read on to see the full list of Leaders at the Helm of the Finance Industry!

Like always, we welcome your comments (Facebook.com/ IndustryLeaders, @IndLeaders on Twitter).

You may reach us at editor@indleaders.com or Editor – Industry Leaders Magazine, The Fastest Media, 3651 Lindell Road, Suite 320D, Las Vegas, NV 89103.

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The Team EDITORIAL Anna Domanska, Editor-in-Chief Christy Gren, Sub-Editor Riana Petanjek, Sub-Editor Priyansha Mistry, Sub-Editor Aubrey Chang, Associate Editor

PROJECT MANAGEMENT Tony Raval, Project Director Jay Raol, Project Director

TECHNOLOGY John Hancock, Head-Web Department Le Manh Coung, Sr Sofrware Coordinator Julia Hunt, Magazine Production

DESIGN Kevin Paul, Sr. Graphic Designer Reepal Savaniya, Graphic Designer

MARKETING Jason Miller, Sr. Project Director

FINANCE CONTROL R R Baratiya

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ADVERTISING Richard Dean, Advertising Manager

Content Features 34

08 Power Players Latest in Business

How To Sell Cereal And Become A Billion Dollar Company

44

Alphabet’s Secretive X Project Could Save the World

25

Young Guns The Life Story of Billionaire Instagram Founder Kevin Systrom

50 Green Revolution

Moss in The Bronx: The newest trend in Architecture

Cover Story

Leaders at the Helm of the Finance Industry

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90

68

Crowdfunded, Inc.

A Crowdfunding Platform For More than Just Profits

Big Ticket

98

A Stylish Touch Exorbitant Gadgets

80

Big Events, Bigger Gains Let’s talk about what happened at the Google I/O 2017

Imminent Trends

Breaking the Glass Ceiling in Cannabis Industry

Events & Tradeshows

108

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Apple Inc Takes on Hollywood with TV Programming Hulu is trying to compete with Netflix.

Amazon Prime is trying to take on Netflix. Facebook is going after Amazon Prime. YouTube looks to enter the streaming game to compete with all three. Wait… looks like there’s a new rival on the block. Tim Cook led Apple Inc. is about to give you a great reason to cancel subscription to all the aforementioned services.

The Cupertino giant is spending $1 billion to ‘procure and produce’ original and acquired content in the name of TV programming in 2018.

According to people familiar with the matter, Apple plans to buy and produce as many as 10 television shows with the money. It is believed to be creating original, high-quality content on Apple’s music streaming Industry Leaders Magazine - September ‘17 | 008

service or a brand new video-centered service.

Apparently, Apple SVP Eddy Cue has ambitions to offer shows that rival HBO’s Game of Thrones.

Let’s face it, Apple’s initial attempt hasn’t exactly been triumphant.

Despite concerted efforts, shows such as Planet of the Apps and Carpool Karaoke failed to stand out. Moreover, the reach of the shows has been limited to users with Apple music subscriptions.

With a large war chest and premier talent in the video programming division, it is likely the quality of Apple TV programming will go head to head with that of HBO’s or even Netflix and company.

The staggering budget will soon be handed over to Hollywood veterans Zack Van Amburg and Jamie Erlicht, who joined Apple earlier this month. Both the execs have begun

meeting with agents and have had talks about acquiring a couple of shows.

Can Apple make a move against Netflix and Amazon, both of which have key showrunners in their turf?

Apple Inc. will need at least one huge hit to emerge as a prominent player. Considering Netflix and Amazon have had head starts and bigger budgets, Apple will need so much more to milk its video offering.

It’s not clear yet how the new shows will be released to Apple customers. Also, a new Apple TV set-top box will launch later this year with support for 4K output. The latest set-up box will be announced alongside the new iPhone and Apple Watch models.

Apple aims to double its service business, which includes Apple Store, Apple Pay and Apple Music to $50 billion by 2020.

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Alphabet’s Secretive X Project Could Save the World X division of Alphabet Inc. has worked on some of the most far-reaching and ambitious projects of all time: from selfdriving cars and delivery drones to storing renewable energy that might otherwise go to waste. According to a Bloomberg report, Alphabet’s research lab, X is working on a project codenamed ‘Malta’ and aims to store power from renewable energy using salts and antifreeze.

As per the project, the power generated from solar panels and wind turbines as thermal

energy in molten salts and cold liquid.

The renewable energy storage system could be located anywhere on the planet.

It has the potential to last far-longer than lithium-ion batteries. (This begs the question, is Alphabet trying to one-up Tesla in its own home turf?) Additionally, the renewable energy storage system will be cheaper than hydroelectric plants and other existing clean energy storage

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system features four cylindrical tanks connected via pipes to a heat pump. Two tanks are filled with molten salts, while the other two are filled with antifreeze.

The system absorbs the energy in the form of electricity, thus creating two streams of polar air. The hot air is to heat up the salts and the cold air is to cool the antifreeze. Based on how well the tanks are insulated, the clean energy storage system can store energy for days.

Now, don’t get your hopes up as this is just a prototype. The Malta team is eyeing a partnership to integrate the technology on a commercial-grid scale.

This might help curb the problem of national blackouts such as the one that occurred in Australia which prompted Tesla CEO Elon Musk to build the world’s largest lithium-ion battery.

methods.

The Malta team is currently testing the first prototype in Silicon Valley. According to an insightful post about the workings of the system on Bloomberg, the

Using affordable materials, we can produce renewable energy that lines up with human consumption. This is not Google parent Alphabet’s first foray into clean energy. Not so long ago, we came to know about the project Dandelion aimed to change how we heat our homes using the power of geothermal heating and cooling. The unique project involves plastic pipes inserted 150m underground, where temperatures stay consistent. Water is then circulated via pipes into the home.

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Audi Recalls 85,000 Diesel Cars over Emissions Concerns

Germany luxury carmaker, Audi, has issued a voluntary recall of 85,000 diesel cars, to update emissions software. The move is being touted as a classic rescue plan to avoid potential driving bans in cities. The rescue plan will cost no less than $2.3 billion (2 billion euros) for cars in Germany, with the automaker bearing the expense of around 100 euros per car. Insiders believe, Audi recalls are in relation to nearly all cars with diesel engines meeting the Euro 6 rules. “Audi aims to maintain the future viability of diesel engines for its customers and to make a contribution towards improving air quality,� the Bavaria-based manufacturer said in a statement.

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Diesel vehicles with affected engines will receive a free software upgrade. The free retrofit will improve the engines’ “emissions in real driving conditions beyond the current legal requirements”.

Using software updates, automakers are able to cut nitrogen oxide pollution by more than 20 percent.

Audi is going to set up a committee to measure the impact of updating diesel cars on communities and cities, worldwide. It plans to contain the situation before bans are called on diesel engine vehicles.

Audi is following Mercedes’ lead, which announced earlier in the week it would recall 3 million cars to improve their emissions performance. The service is also being extended to Porsche- and Volkswagen- branded cars using the V6 and V8 TDI engines.

Diesel emissions have come under intense scrutiny since Volkswagen admitted in September 2015 that they had installed a deceptive software on 11 million vehicles worldwide to cheat on emissions tests.

Regulators in regional capitals of the world have been looking at measures to reduce emissions from diesel vehicles. Some are even calling for bans on highest-emitting vehicles from inner-city areas.

Automakers like Chevrolet are quickly moving away from producing diesel engine vehicles. On the other hand, companies like Daimler, Renault, GM, Ford, and Peugeot are facing accusations over employing shady practices. Some of these companies are now even facing class-action lawsuits for using “defeat device” software in some of their vehicles to trick environmental regulators. Now, diesel makes sense for trucks because it only increases torque, which helps them tow more weight. When it comes to mainstream vehicles, all it can do is increase the fuel averages.

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What the Uber-Yandex Merger means for Uber A year after selling its Chinese business, Uber has now decided to join hands with Yandex, the Russian search engine giant and operator of ride-hailing service Yandex.Taxi. The yetto-be named company under the Uber Yandex merger will be worth $3.75 billion. The jointly operated ride-hailing business will span across 127 cities and 6 countries. (Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan.)

According to the terms of the deal between Yandex and Uber, Tigran Khudaverdyan, the CEO of Yandex.Taxi, will serve as the chief executive of the joint venture.

Uber will invest $225 million and hold a stake of 36.6 percent. Meanwhile, Yandex will invest $100 million of its own and retain a 59.3 percent majority stake in the jointly operated business. All

remaining shares are held by company employees.

The deal is yet to receive regulatory approval and other conditions.

Yandex, often referred to as the “Google of Russia� is a well-known brand and has a broad mapping database. For obvious reasons, this gave Yandex.Taxi a competitive advantage over Uber. Rather than fighting over market share, Yandex and Uber decided to merge their ridehailing businesses.

Uber launched in Moscow three and a half years ago.

It now operates in 16 cities in Russia. While Yandex has gross booking of over $1.01 billion on a yearly basis, Uber has just a sweet half of that at $566 million. In the long run, the Uber Yandex merger will eliminate an aggressive

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competition from the outside, and lead to improved profitability.

Another potential upside is that Uber will also contribute its UberEATS food delivery business to the new venture.

In recent years, Uber has faced difficulties in regions where the governments does not always welcome foreign businesses. Last year, it sold its Chinese business to local rival Didi Chuxing in return for receiving a 17.5 percent stake in Didi, then valued at $355 million.

The same can be said for Yandex, which has faced fierce competition to hold on to its dominant position in the Russian market. With Uber equally spending, it can stay in the game and become a market leader.

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Google data centers have evolved, set to reach 100% renewable energy

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Alphabet Inc. has inked a 10-year deal in Europe to buy the largest solar park in The Netherlands to power a recently opened data center housing thousands of servers. It is a part of the search engine giant’s plan to power Google data centers with renewable energy sources such as wind and solar. With Google investing millions in renewable facilities, the prices for wind and solar energy are also expected to fall considerably.

No financial details of Alphabet’s deal with Eneco were disclosed.

Eneco will supply renewable energy for months, may be even years.

The Netherlands, unlike many European nations, lags behind European energy goals. According to Eurostat, it is the last out of all EU nations

when it comes to making renewable energy progress. It will take several years before it reaches the goal of running on 100% renewable energy. This year, the nation made an investment of 12 billion euros in offshore windmill farms.

It’s not just EU nations balling up in the race to see who can be the greenest. Tesla seems to be leading the renewable energy race, with its Gigafactories to be 100% renewable energy powered. It is building a large solar energy plant on the island of Kauai in Hawaii to power its auto plants.

Earlier this year, Apple announced a $1.5 billion green bond to further its renewable energy goals. It is the largest green bond in the U.S. corporate history. As of 2017, ninety six percent of its worldwide energy comes from renewable energy sources. In 2016, Facebook announced it

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will invest $500 million to build a new data center in Fort Worth, Texas. The data center will be 100% powered by renewable energy, all thanks to a very lucrative collaboration with Citigroup Energy, Alterra Power Corporation and Starwood Energy Group. Apple, Facebook and Google seem to be close to reaching the 100% goal.

Google data centers and the offices for its 60,000 employees will be 100% powered by renewable energy by the end of 2017. The target took five years to reach, set in 2012. A lot of time was spent in negotiating power purchase agreements.

This does not mean that 100% renewable energy comes directly from wind and solar farms. Google spends a lot of amount purchasing from renewable sources.

The search engine giant is already the world’s biggest corporate buyer of renewable energy. In 2016, it bought 44 percent of its power from wind and solar farms. Without wasting any time, it is now contemplating about investing in nuclear power, too. The safety implications of nuclear power are much more dramatic than renewables. This doesn’t mean Google will rule out signing nuclear projects if it meets its goals of safety and low price.

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Innovative businesses boost more than the bottom line while saving energy Many businesses are realizing a myriad of secondary, if not unanticipated, benefits from energy saving initiatives, making these projects a high priority for growth among forward-thinking organizations.

The benefits of energy-efficient practices far exceed the significant monetary savings that come from simply using less energy. A more efficient facility may offer a better and safer working environment, which raises productivity. A pleasing and comfortable atmosphere enhances the customer experience, leading to increased traffic. Socially conscious customers recognize, and reward, a business’ efforts to actively participate in reducing its impact on the environment. And, yes, a more efficient facility costs less money to operate-up to 30% less.

Businesses don’t have to go it alone to become more efficient. Energy providers, such as National Grid, can provide guidance and offer incentives that make the initial investment more affordable, allowing for a shorter payback period. Here are two recent examples from businesses that partnered with National Grid to achieve their goals.

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Making energy-efficient products efficientlyPhilips Lightolier doubles down

After over 30 years of internally engineered energy saving efforts, Philips Lightolier, based in Fall River, Massachusetts, had made incredible strides at reducing its impact on the environment. A reduction in volatile organic compound (VOC) emissions by a whopping 99% was achieved while usage of toxic chemicals, electricity, natural gas, and water also dropped precipitously. However, as a global leader in manufacturing highly efficient LED lighting solutions, Philips Lightolier was not about to sit still.

Energy savings is in its blood. After all it had accomplished, however, the company needed a little help finding new areas where it could improve efficiency.

National Grid, with help from its engineering partner Leidos, identified 12 additional energy saving opportunities. The largest of these included placing highly efficient variable-speed motors on the facility’s exhaust fans, resulting in an 80% reduction in energy usage during off hours. The cost of the project was $47,953, but after an incentive of $23,977 provided by National Grid, the investment paid for itself in energy cost savings in just six months.

Yet it was the secondary benefits from the smaller projects that really stood out. Compressed air leaks were fixed, allowing more power to get to the air tools, which increased productivity. Lighting was upgraded, enhancing visibility and creating a safer, more comfortable work environment. And the company’s commitment to the environment has shown the marketplace that it leads by example. Philips Lightolier has used creating a culture of environmental sustainability in its facility as a major driver in its growth strategy.

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Efficiency illumination at the New York State Museum

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New York State is committed to saving energy and protecting the environment. The New York Power Authority, in conjunction with BuildSmart NY, calls for a 20% increase in energy efficiency in all state buildings by 2020. A loftier goal set by the State calls for a 40% reduction in statewide emissions by 2030. State buildings all over New York are implementing energy efficiency initiatives to do their part to reduce energy usage and reach that goal. One such entity is the New York State Museum, located in Albany.

In a museum, lighting is everything, but in the New York State Museum it was out-of-date and inefficient. With the help of a $135,000 incentive from National Grid, the museum was able to replace all of its old light fixtures with approximately 2,000 high-performance LED track lights. The results were illuminating.

New, efficient lighting reduced the museum’s annual energy and maintenance costs by nearly $200,000. The museum will be paid back on its investment in just four years, and the continued savings will lower costs to taxpayers for years to come. Furthering environmental goals, the new lighting reduced greenhouse gas emissions by 900 tons annually, equal to taking 190 cars off the road. What really impressed, however, was that the new lighting improved the experience of hundreds of thousands of visitors annually by enhancing visibility and programming options, encouraging future visits. As eloquently put by Albany Assemblyman John T. McDonald III, “What better way to show off history than in a new light?”

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Join the movement Energy-saving initiatives should be a crucial element of any business’ sustainability and growth plan. Not only do efficiency projects almost immediately inflate the bottom line, but they are an excellent way to boost productivity and customer experience and enhance a business’ position in the marketplace-all while helping to preserve the environment. Energy efficiency ventures may appear to be daunting and costly. But with incentive programs and expert help provided by energy partners such as National Grid, any business or organization can achieve these benefits. Get started today at ngrid.com/business.

About National Grid National Grid is one of the largest investor-owned energy companies in the world and has helped businesses across New York, Rhode Island, and Massachusetts achieve the many benefits of saving energy. Visit ngrid.com/business to see how National Grid can help your organization make energy efficiency and company growth a reality.

Disclaimer Lighting upgrades and incentives through National Grid are not available in New York City and Long Island service territories.

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Moss in The Bronx Modern architecture is untouched by culture. It is, in a certain sense. Where are those old granite buildings with an emerald moss and silver lichen growing on their shoreward walls? Inhale them and you can recall what? Anything but rotten, such as pure nature from partial immersion of mussels, fungi and moss. The fact is, nature is unexploited visually and commercially. It needs fresh air. Most architects think otherwise. Fungi, moss and lichen growing on the façade of a building is a sign of

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decay. You see, building materials are designed specifically to resist growth of microorganisms. So much effort is put into developing biocides to make sure the concrete and wood and bricks are never colonized by living things. Times are changing now, for plants and lichens on a concrete wall might turn out to be a sign of sophistication.

BiotA Lab at University College London’s Bartlett School of Architecture has developed an innovative wall-panel system capable of hosting microorganisms and nurturing bio-colonization directly from the pores on its surface, without the need for soil and associated irrigation systems. The novel design engineering method seeks to improve façade performance through implementation of a new type of biologically receptive

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concrete. The multilayered panel system intends to overcome many of the limitations of existing green walls, particularly the need for expensive maintenance.

The so-called biological concrete is designed to support the growth of mosses, fungi, and lichens.

Unlike green roofs and vertical gardens, the green walls are made out of a special type of cement: magnesium phosphate cement (MPC), which has slight acidity and supports biological growth.

The design team from Bartlett’s School recently exhibited their innovation as a part of the SuperMaterial exhibition at The Building Center in London. The exhibition aimed at showcasing how materials will transform

our relationship to both natural and built environments, and bio-concrete fit right in.

The ultimate aim to develop bioconcrete was to transcend existing limitations in creating a green

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existing green wall systems demonstrate a low integration between structures and the living organisms that grow on them.

wall. For instance, the mechanical irrigation systems and other expensive maintenance that are required to keep existing green walls functional, not to mention the high level of expensive associated with the initial implementation. Additionally,

Bio-concrete is one way to respond to the urgency of improving the quality of air in our heavily polluted cities. Climate change, increasing levels of pollution and shifting biomes has resulted in an ongoing effort of making cities greener and more sustainable. In the past century, we’ve only focused on buildings green roofs and façades, as an opportunity for greening.

The biggest drawback is that such ‘green walls’ have proven expensive to implement and manage.

Even worse, it has failed to address the increasing loss of cryptogamic surfaces, which have passed unnoticed in our cities.

The magnesium phosphate cement developed at BiotA Lab will allow micro-

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organisms that have been overlooked in current green wall systems to flourish.

For instance, bio-concrete will allow the growth of cryptogamic surfaces – plants that reproduce via spores as opposed to flowers or seeds, such as mosses, fungi and lichens.

Bioreceptive concrete has been chemically altered to be favorable for microorganisms to establish and flourish. By adopting receptive materials into building architecture we can foster green growth for the building’s façade itself to become the basis for the growth of a photosynthetic system.

Ultimately, such materials will allow plant life to flourish on buildings in a way that is sustainable to the environment, without

compromising the structural integrity of the built environment.

According to a study by Sandra Manso of The Structural Technology Group at the Universitat Politèctica de Catalunya (UPC) in Barcelona, bioreceptive materials are combined to form four layers: a structural layer, a waterproofing layer, a bioreceptive layer that helps microorganisms thrive, and a reverse waterproofing layer that retains water for the plant-life.

The concrete made by UPC also absorbs CO2 in the atmosphere and acts as an insulating material as well as a thermal regulator. The researchers at UPC are in the process of patenting the innovative material. The next step, is of course, to accelerate the process so architects around the world can use the

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material to create mossy buildings.

The innovative material is not commercially available yet, but it promises innumerable benefits, including the reduction of greenhouse gases from the environment and more.

The most compelling of all reasons to adopt the use of such materials is that it could exhibit an extraordinarily beautiful patina that transforms through all the four seasons of the year.

Architects talk about the skin of a building like it’s a living, breathing thing. It’s a metaphor used everyday in completely different ways. The design team at BiotA wants people to think

of the exterior of a building as tree bark. It’s not just a protective layer – it’s a host.

It allows living things to grow on it, and thrive as well. Barks are mediators between the internal conditions of a tree in which all kinds of species reside. Bioreceptive materials can allow microorganisms to grow on the façade and enrich the layer with a thriving ecology. Besides, there are no concerns such as living walls full of plants or green roofs needing maintenance. Unlike current systems such as ‘vertical gardens’, the bioreceptive concrete supports life on its own surface, meaning there is no need for complex support structures. That’s another way of saving plenty of money.

Let architecture speak of the times we are living in right now. Let the common man know what architecture is

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and how it helps human civilization. At the moment, our greatest need is to combat climate change and reduce global warming. This is the time when architecture must come and lay its services at the feet of the civilization.

Even today, the idea of including nature within a city is pretty much a foreign concept. It’s something that exists from the 18th century and way back, and yet we’re unable to put it to its full potential use to combat the biggest challenges of all. Why use nature as a decorative element, as a way to soften the look of a building, when we can use it to connect people with nature in the utmost profound way?

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How To Sell Cereal And Become A Billion Dollar Company The idea of people renting rooms in someone else’s homes over the internet seems a little crazy, doesn’t it? May be, for some people who’re extremely private. It is one thing to be a part of the gig economy and share an Uber, but it’s another to open your home to a complete stranger from the Internet.

This is the story of Brian Chesky, a 21st century ‘cereal’ entrepreneur. With no investors and thousands of dollars raking up in credit card debt, the entrepreneur had to resort to selling cereals to keep his company afloat. It took almost two years before AirBed & Breakfast saw some traction. Air Bed & Breakfast, sounds vaguely familiar? Today, people all over the world know it as AirBnb. Sitting in San Francisco, you can book a holiday home in Kathmandu, Nepal.

Like all good stories, this one starts with the humble beginnings. Growing up in upstate New York, Chesky never really thought about becoming an entrepreneur. His parents were both social workers, and his family wasn’t exactly

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wealthy. His mother would often joke saying she chose a job for the love, and made no money. She wanted him to take up a job that gave him money. When Chesky said he wanted to go to art school, his mother thought he had chosen the one job that will make him even less money than a social worker.

It was at art school that Chesky met Airbnb co-founder Joe Gebbia. After four years of working as an industrial designer in L.A., Chesky quit his job. Many thought he was having some sort of early life crisis. In 2017 in San Francisco, Brian Chesky and Joe Gebbia has just moved from New York. The two young men were unemployed,

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and had trouble paying their rent and basic expenses.

They were looking for a way to earn a healthy living, when they noticed that all hotel rooms in the city were booked, as a local event attracted a lot of visitors.

The two men saw this as an opportunity. They bought a few airbeds and put up a side called Air Bed and Breakfast. The idea was to offer visitors a place to sleep and breakfast in the morning. The idea succeeded and the duo welcomed the first AirBnb guests, charging $80 for a night’s stay. Airbnb’s first customers were a 35-year-old woman from Boston, a 30-year-old man from India, and a 45-year-old father of five from Utah.

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Soon after, Harvard graduate Nathan Blecharczyk joined Airbnb as the third co-founder. By this point, the founders faced one big challenge: the site only had one user. The company relaunched in August 2008 after changing the website, right before the Democratic National Convention in Denver. Over 80,000 people were expected to visit Denver, and there were only 27,000 hotel rooms. During the Industry Leaders Magazine - September ‘17 | 038

event, Airbnb received around 80 bookings. The weekend after they were back to no booking. The founders originally aimed at catering the thousands of people that came to the convention.

By this time, Brian Chesky had raked up $30,000 in credit card debt.

It came to a point where the bank stopped giving credit cards to him.

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Chesky and Gebbia had tens of thousands of dollars in debt during the 2008 Financial Crisis.

The founders had officially reached rock bottom, and the idea of doing Air Bed & Breakfast wasn’t working out. The pessimistic thought blossomed another vague idea of selling cereal. One day, Gebbia bought thousand pieces of giant cardboard to sell limited edition cereal at 40 dollars a box.

Now who would pay 40 dollars a box? People do! Turns out, the founders made $30,000 by selling limited edition cereal boxes.

But $30,000 can only get you so far. In November 2008, Chesky’s mother called him to offer financial help.

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Soon after, Airbnb raised $20,000 in its first funding rounds from Y Combinator. At this point, there were still making only $200 a week, and decided to use the money to go to New York to meet some of their users. It didn’t take long to discover that one of the biggest problem was the pictures on most listings were far from good.

Of course, they had to buy a camera and go house to house to take pretty pictures.

In 2009, the three founders were invited by Paul Graham at Y Combinator to convince venture capitalist Fred

Wilson to invest in AirBnb. While Wilson decided to not invest on what would become a billion dollar company.

Chesky’s degree in art is pivotal in his success. Most founders in Silicon Valley went to Stanford or MIT. On the other hand, Chesky studied industrial design – basically everything from spaceships to toothbrushes. He credits his education for the disruptive thinking.

The company finally decided to focus on all types of accommodation instead of shared spaces. In March 2009, Airbnb had over 2,500 listing and had already closed over 10,000

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registered users. Today, Airbnb has over 3 million listings in 190 countries and 34,000 cities. The company has hosted over 50 million guests. Today, it is valued at 30 billion.

Airbnb’s image was rebuilt in 2012, when it responded to a host who wanted to offer her property free to those made homeless by Hurricane Sandy. Since then, Airbnb has also played the role of a community providing free housing for global disasters.

Brian Chesky and co-founders Joe Gebbia and Nathan Blecharczyk are credited for disrupting the most established players in the hospitality industry, generating billions of dollars in revenue, and for creating a source of income for the users. What started as a means to make rent, quickly turned into a billion dollar business. His

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friend Mark Zuckerberg often says the idea of Facebook was conceived in little over 20 minutes. It wasn’t the same for Airbnb founders. After Air Bed & Breakfast had its first three guests, the founders did nothing for months. At one point, the founders were even trying to create a roommate matching website.

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The Life Story of Billionaire Instagram Founder Kevin Systrom Born on December 30, 1983; Kevin Systrom is the founder and CEO of Instagram. For all those who aren’t aware; Instagram is an online photo sharing application with 250 million daily active users. It’s one of the few applications which accounts for the biggest names from the celebrity world as their loyal users. Within two years of its launch, Instagram was acquired

by Facebook for an astounding $1 billion in 2012. Presently, it is valued at $50 billion, and accounts for 700 million monthly active users.

Kevin Systrom is said to be the man behind Instagram’s overall vision and strategy along with day-to-day operations. Under his leadership, Instagram has grown on to become one of the most popular applications of all time.

Instagram is used by many for visual storytelling – be it celebrities, brands, newsrooms, musicians, to teens and absolutely anyone. Speaking of his personal life; Kevin is a very private person. He completed his Bachelors in Management Science and Engineering from Stanford University. He was first introduced to programming during his teens, and has since been hooked to it. His undying passion for programming helped him enter the tech world at a very young age. The irony is that his first real job was far from programming.

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During his high school days, Kevin was obsessed with becoming a DJ. At one point in his life, he even wrote emails to a vinyl-record store to give him a job there. When he began his college life at Stanford, he was surprised to discover his leanings towards more practical subjects like Finance and Economics.

At Stanford, he was one of the few students who were chosen to partake in the Mayfield Fellows Program. This eventually led to an internship at Odeo Inc, a podcast start-up created by Evan Williams. This was around the same time when Facebook was launched.

Did you know that Mark Zuckerberg once tried to hire Kevin when he was still an undergraduate at Stanford in 2004? Of course, Kevin had to no say to the gig because he wanted to complete his degree first.

After earning his degree, Kevin joined Google as an Associate Product Marketing Manager. It was at Google that he worked on several popular products such as Gmail, Spreadsheets, Docs, Calendar until he was moved to the Corporate Development team.

In 2009, he finally decided he wanted to take a major risk in life. You must think Kevin wanted to start a company, but you’re wrong. Instead, the young man joined a startup called Nextstop.com as a product manager. The startup was founded by ex-Googlers, and offers lucrative travel recommendations to its customers. It was at Nextstop he got the opportunity to write code and programs revolving around photos. You know

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where we’re going now, don’t you?

In his spare time, Kevin started working on a location-based photo sharing app called Burbn. After a successful meeting with Andreessen Horowitz in 2010, Kevin quit his job and went on to create Burbn on a full-time basis. Within two weeks of quitting the job, he received his first ever funding amount from Baseline Ventures and Andreesen Horowitz. Around the same time, he called fellow Stanford graduate Mike Krieger to run the start-up.

In spite of the press coverage, the app failed to garner public interest. While it was quite similar to Foursquare, it was also unique in its own way. After all, it was a location-based photo sharing app!

Things didn’t work out quite well as Systrom had expected. At one point, he stripped the app completely and customized it only for iPhone users. The app was decked with multiple filters that made pictures look artsy. After spending two months tweaking code and refining the platform, the duo came up with Instagram – derived from Instant and Telegram.

Within two hours of the time that Instagram went live, its servers went down again and again due to the high tragic.

The two founders worked like crazy all night out of fear of instant failure. It is said that 25,000 people had signed up on the platform in the first 24 hours.

People loved the way the app allowed them to share photos and videos online. The platform let them share a digital photo album with friends and family. Within nine months of

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Industry Leaders Magazine - September ‘17 | 048

its launch, Instagram had gained 7 million users, worldwide.

Some of its most high profile users include Justin Bieber and Ryan Seacrest.

By 2012, Instagram was valued at $25 million, and went on to become an instant success. In September 2011, the founders launched a Version 2.0, which included live filters, borders, rotation, and an updated icon. With the app launching on the Android platform, the founders gained more than one million users in less than one day. The app went on to become one of the most downloaded apps on Google Play.

This is what forced Facebook CEO Mark Zuckerberg to take notice of the app. When he realized a lot of Facebook users had stopped using Facebook to post photos, instead of sharing them via their Instagram feed. It was matter of pressing concern to Zuckerberg. Kevin was in the inner circle of the Facebook CEO, the two used to meet at Stanford gathering, and Zuckerberg was like a mentor to him.

At a conference Kevin was offered $500 million for Instagram.

It was around this time, Mark Zuckerberg offered to buy Instagram for $1 billion in cash and stock. It was a deal!

In April 2012, Instagram along with 13 employees was acquired by Facebook. Even after its acquisition, Instagram remains to be an independently managed company under Facebook, Inc. It has become a haven for celebrities including Taylor Swift, Kim Kardashian, Justin Bieber, etc.

Since the Instagram acquisition in 2012, Kevin has made a total of three investments, which includes Blue Bottle Coffee, Sparks and Even.

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stor y

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Leaders at the Helm of the Finance Industry Finance isn’t just about wealth. It is also not about controlling people or resources. It’s a potent combination of money and influence that empowers a leader to shape the world. Not everyone possesses the ability to effect the economic and political landscape and bring into effect a global change. The true outliers make day-to-day decisions that affect millions, shake industries and change economic power.

Industry Leaders Magazine has compiled a list of top leaders in finance industry – billionaires, CEOs, and heads of state.

Read on to see the full list of Finance Industry Outliers of 2017.

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stor y Ray Dalio Title: Founder, Bridgewater Associates Country: US Age: 66 Ray Dalio is the founder, chairman and chief investment officer of Bridgewater Associates, one of the largest and most successful hedge funds in the world. A self-made billionaire, Dalio is managing a $160 billion portfolio, and is himself worth at least $17 billion. Since being named to TIME magazine’s 2012 list of the most influential people in the world, his investment secrets have become highly coveted and last year he shared them in a 30 minute YouTube video, which has been watched more than 2 million times.

His self-published manual ‘Principles’ on money management and leadership is regarded as a bible among the investment world. Dalio is completely transparent to his employees, and it has worked in favor for him: Bridgewater is often viewed as cultish, and is among the best places to work on Wall Street.

Ray Dalio attributes his success by reminding himself of decisions he’s made which didn’t work.

“Principles are ways of successfully dealing with reality to get what you want out of life.”

Ray Dalio

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Industry Leaders Magazine - September ‘17 | 053

stor y Carl Icahn Title: Founder, Icahn Enterprises Country: US Age: 79 Carl Icahn is the billionaire founder of Icahn Capital Management. At the age of 80, he is worth $15.9 billion and is one of the most successful investors in the world. When Icahn revealed on Twitter that he has a stake in the company worth more than $1 billion, Apple stock shot up after a slump the year before. The billionaire is often compared with the legendary Warren Buffet and some even say that he is a better investor. He has a strong personality, and he’s without qualms when it comes to taking on bigger challenges.

Icahn has invested in many major companies in the USA and the rest of the world. Apple, Netflix, Time Warner, Casinos, Revlon, Mylan Stratosphere are some of the most prominent companies Icahn has invested in.

So, what’s his investment philosophy? Carl Icahn has a reputation in the Wall Street as a ruthless investor. His mojo is clear: contrarian investment and shareholder activism, both of which are closely intertwined.

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Industry Leaders Magazine - September ‘17 | 055

stor y Steve Schwarzman

Title: Founder and CEO, Blackstone Group Country: US Age: 68 Steve Schwarzman is the chairman, CEO and co-founder of Blackstone Group. With $334 million in assets under management, Blackstone is one of the largest buyout firm on earth. The 2007 buyout of the Hilton hotel chain is considered to be one of the biggest and most profitable buyout of all time. Blackstone is also the largest owner of real estate in the world.

Schwarzman started his career with investment bank Lehman Brothers before leaving in 1985 to start Blackstone. The buyout firm began with as little as $400,000 and is now a juggernaut in the Wall Street.

In 2014, Blackstone generated a record $7.5 billion in revenue and plans to double in size by 2022.

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Industry Leaders Magazine - September ‘17 | 057

stor y Christine Lagarde

Title: Managing director of the IMF Country: France Age: 59 Christine Lagarde is the head of the International Monetary Fund, which serves as the economic adviser for 189 countries to keep the global economy growing. She is also the first woman to head the organization in its 70-year history. One of the most powerful woman in the world was an early predictor of the global economic meltdown that began in 2008.

Lagarde is perhaps the only finance leader in history to be called a rockstar, a superhero, and a style icon. Under her leadership, the IMF has integrated China’s currency into the global system – a historic move, which would further cement China’s raise as an economic superpower. She has also been solely responsible shoring Greece’s failing economy which has required three bailouts in five years and more than $100 billion of aid.

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Industry Leaders Magazine - September ‘17 | 059

stor y Michael Bloomberg Title: CEO, Bloomberg LP Country: US Age: 73 After leaving Bloomberg in 1981, and spending twelve years as mayor of New York City, Bloomberg has made waves by returning to his company as the figurehead. His return brought several layoffs, management shakeups, and a website relaunch. The man with a fortune worth $42 billion is once again at the center of revolutionizing the distribution of financial information.

The man is effectively responsible for instituted a smoking ban in New York City, although the efforts fizzled out last year. Bloomberg has also pledged $50 million to combat gun violence through the Everytown for Gun Safety organization.

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Industry Leaders Magazine - September ‘17 | 061

stor y Larry Fink

Title: Founder and CEO, BlackRock Country: US Age: 63 Larry Fink is the CEO and founder of BlackRock, the world’s largest asset-management firm. Back in the ‘80s, he was ousted from investment bank First Boston after losing $100 million on a poor interest bet. In 1988, he set out to start BlackRock, which quickly grew into one of the largest money managers in the U.S. In the Wall Street, Fink is regarded one of the savviest finance industry leaders. BlackRock’s riskmanagement system, also known as Aladdin, has brought top banks and the US government out of the 2008 financial crisis.

Larry Fink oversees $4.5 trillion in assets, a huge chunk of which is comprised of the average US citizen’s person or retirement account.

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Industry Leaders Magazine - September ‘17 | 063

stor y Janet Yellen Title: Chair of the Board of Governors of the Federal Reserve Country: US Age: 69 Janet Yellen is also known as the sole guardian of the US economy. As the head of the Federal Reserve, she is responsible for adding 300,000 jobs in one single month, and lowering unemployment to under 5 percent.

Very few leaders in the finance industry have a profound impact on the Wall Street, investors and company executives worldwide. Many worry that US might once again fall into a recession, but Yellen is confident that it’s unlikely for decades to come.

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Industry Leaders Magazine - September ‘17 | 065

stor y Abigail Johnson

Title: CEO, Fidelity Country: US Age: 53 Back in 2014, Abigail Johnson succeeded her father as Edward as CEO of Fidelity, the second-largest mutual fund company in the US. As the figurehead, she oversees more than $5.2 trillion in assets. It’s an open secret that Johnson was groomed from an early age to take over the company. She started working with her father right after high school, and officially joined as an analyst in 1988.

As soon as she came in power, she made companywide changes, including large cost cuts and firing ineffective managers. As the CEO of Fidelity, she is responsible for millions of American’s retirement account. Johnson is worth $18.5 billion, making her one of the wealthiest women in the world.

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big T I C K E T

add a stylish touch with exorbitant gadgets

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Gone are the days when people spent money on expensive jewelry to give the impression of belonging to the elite class. Buying expensive jewelry was considered to be a status symbol but now we prefer splurging the same money on gadgets. Technology is something which keeps updating itself on a regular basis and also intrigues us to quite an extent. Such tech devices are a necessity in our day-to-day lives but owning a tech piece as an asset has its own charm. Catering to such demands, a number of exorbitantly priced gadgets are out in the market to add to your style quotient. They might burn a hole in your pocket but they definitely boost your self esteem.

Another impressive feature of these stylish gadgets is that the unique level of innovation will never fail to surprise you. These gadgets form a perfect balance between attractive designs along with the latest concepts of technology. The only drawback is that you are expected to pay a hefty price for this amalgamation.

People are willing to do that as well in order to keep up with the trend and flash such a stylish gadget under their ownership. If you own any of the gadgets listed below, you will definitely be a popular topic of conversation in the next party you walk into. People will not only look up to you due to your style quotient but also respect you for your updated knowledge in the tech field.

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Ringly Luxe smart bracelet The company Ringly derived its name due to its first ever product which went on to become a success in the wearable tech world. Ringly is considered to be a pioneer when it comes to smart jewelry. Its first innovation was a smart ring whose success inspired the company to create more pieces of jewelry based on the same concept. After the chunky ring comes the Ringly Luxe smart bracelet with the same semi-precious stone and high quality metal. And needless to say, they are even more gorgeous than the smart rings. This bracelet range is dubbed as the Aries collection by the company.

The founder and CEO of Ringly, Christina Mercandod’ Avignon stated that the main thought behind the designing of this smart bracelet was that even without the technical advantages, a customer would feel like owning this device as a jewelry piece well. This means that it not only comes with attractive features but with a design you can’t resist buying. Coming to the tech features of this pretty bracelet, like any other wearable it buzzes you with notifications which you have selected as important ones on the sync app on your smartphone. The highlight is that the smart Industry Leaders Magazine - September ‘17 | 070

bracelet is compatible with more than 200 apps. You are also given the option to customize your notifications accordingly. Such a feature helps you avoid missing important calls in case your phone is in your purse and also stop from giving rise to embarrassment by keeping your phone in your hand at all times. Rumors suggest that soon you will also be able to make mobile payments from this gadget. It also keeps a count on the physical steps you take. Available in gold, rose gold, and silver, it starts at the price of $165.

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Dyson Supersonic Hair Dryer We all are aware of those humid mornings when our hair refuses to behave and is all over the place. At such a time, your hair dryer comes to the rescue. A hair dryer is usually a part of the everyday getting ready routine to make sure that the hair stays where it should be. But had you ever thought that you would splurge $400 on a hair dryer? Well here is the most extravagant hair dryer of all times. The Dyson Supersonic Hair Dryer is a result of extensive research which caused the company an expenditure of almost $65 million. This seems amusing as since the hair dryer was first invented in the year of 1920, there has not been much of a change except for the design and compact finish. This is in regard to the fact that as it has only one feature to offer, there isn’t much scope for change either. Despite this, Dyson decided to take this piece of technology a notch higher.

The company Dyson was originally known as an expert in the manufacture of vacuum cleaners. Based on the same working mechanism, the company decided to try a hand at hair dryers as well. One thing the makers of this hair dryer confidently promise that this hair dryer is nothing like the one you have been using for years.

It has a stylish design in gray and pink with a nonslipping mat and a limited edition leather case for its storage. The hair dryer assures fast drying without causing harm to your hair due to excessive heat. This is done by measuring the temperature twenty times in a second to retain the natural shine of your hair. It comes with a number of tools for precision styling.

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ZIIP We live in an age wherein people are ready to pay a price to look good, literally. The best way to make your skin glow is through proper blood circulation. Another major concern these days is acne and the ugly spots it leaves behind. There are a number of creams which dries up the acne instead of treating it from the roots. This is followed by the issue of wrinkled skin which may make you look older than you actually are. What if we tell you that there is a device which simultaneously deals with all these skin problems? ZIIP Beauty believes in solving all these problems from its roots.

Even if you go for the most basic facial treatment, it will cost you at least $150. You happily spend this money as it makes your skin look as well as feel great. But what if we told you that you could have such flawless skin everyday that too at home? This is what ZIIP Beauty caters to. Using this device, one can get a nano-current facial. This kind of facial delivers electric current right to your cells which helps kill any kind of bacteria that forms acne and also tighten the skin wherever necessary. Apart from this, it helps in blood circulation for the natural glow.

The device looks like an ordinary computer mouse but can perform miracles on your skin. At the price of $495, it is a onetime investment instead of spending money on facials every few weeks.

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Industry Leaders Magazine - September ‘17 | 075

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Michael Kors smartwatch Owning a smartwatch is something maybe you always wanted to do but the only drawback is that wearing a huge technical device on your wrist doesn’t always go with your attire. In order to solve this problem, Michael Kors has come up with its own smartwatch. The highlight of this product is that the features of a smartwatch are disguised in the form of a statement piece of jewelry. It is inspired by the original Bradshaw watch and consists of the Android Wear technology.

The best feature which will certainly appeal to an individual is that you can personalize the dial according to one’s preferences for various apps. Along with this, the digital dial perfectly blends with the luxurious design of this watch which makes it look like a designer watch on the first glance. The price range of this watch begins from $350 and goes up to $450 in accordance with the customized straps bought. The dial of the watch is available in gold, rose gold, and silver.

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BeoSound 1 There are so many portable speakers in the market that one’s mind will be blown by the variety as well as price range. The efficiency and features each portable speaker claims to offer are usually highly updated. The wide range of portable speakers has made it extremely difficult to pick one and call it the best among the lot. But here we have picked a portable speaker which will help oomph up the style quotient in your home and will act as an oblivious ensemble as a part of your décor during parties. BeoSound 1 is bound to impress you.

Let’s first begin with the price of BeoSound 1 so that one gets a clear idea about the lavishness of this gadget. The BeoSound 1 is available at the price of $1,495 and its updated version the BeoSound 2 is at the price of $1,895. Moving on to the design of the portable speaker, the sleek silvery design will blend in with the artifacts of your home and one may not even realize that it’s a speaker. All you have to do is connect this speaker to your phone through a Bluetooth or Wi-Fi and it will browse through all the music apps available on your phone. The intuitive control feature provides easy access to the options on this speaker. Its 16 hours of battery life will be enough to even pull an all-night party.

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Industry Leaders Magazine - September ‘17 | 079

imminent trends

Breaking Glass Ceiling in Cannabis Industry Women make up about 36 percent of executives in the legal-marijuana industry, compared to around 22 percent of senior managers in other industries.

Now, compare this number to the 4.2 percent of CEO positions at S&P 500 companies. Let’s not even mention tech companies where there are disproportionately few female executives and engineers.

“It’s a new opportunity for many women who have been sidelined by men in the corporate world,” said Anna Hopkins, a consultant at a cannabis business in Houston. A young mother for two, Hopkins worked as a business analyst at JPMorgan Chase before creating an opportunity for herself in the cannabis industry. “My career at the bank was stalled,” she said of her financial career, “there was no way I was ever going to be able to become a top dog without sacrificing family.”

In the cannabis industry, business models aren’t

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Industry Leaders Magazine - September ‘17 | 081

imminent trends set yet. Speaking of trends setting up, the marijuana industry is also free of gender disparity.

Traditionally, smoking pot has been portrayed in pop culture as a male pastime.

Yet it seems it is men and women who are equally influential in making the marijuana industry a trillion dollar a year business.

Since the legalization of marijuana, memberships in organizations such as Women Grow has nearly tripled across 30 chapters in the United States.

At Women Grow, dozens of women across all ages and backgrounds gather to talk about pot. A lot of this events are outlined on how to launch a marijuana business or how to grow a client list. Over the years, pot legalization has gained support from women and female entrepreneurs for more than advocacy and consumption in the market. A lot of these

women comes from male dominated industries where the rules are already established – and piled up against them.

Cannabis industry is more than just a clean start for these women.

There are also women entering the cannabis industry because they see tremendous market potential. Take a look at Primal Therapeutics, a marijuana-infused massage-therapy company started by Jordan Person, a former nurse. Over the past few months, the business has grown so fast, no one thought a company like hers would survive past a few months. When her business took off, people came to her looking for guidance on how to start a marijuana business. To this day, Person gets daily phone calls from people around the country asking her how to launch their

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Industry Leaders Magazine - September ‘17 | 083

imminent trends own marijuana business.

Marijuana legalization has allowed a new set of businesses where men and women govern how and where people spend their leisure time. Keidi Keyes runs Puff, Pass, and Paint, a company that specializes in cannabis-friendly art classes. Over the years, her venture has proved to be popular, especially amongst tourists who smoke organically grown

by L’Eagle. You may also remember Charlo Greene who went viral for quitting her job as a reporter on live television while outing herself as the founder of Alaska Cannabis Club.

She is also the founder of NewCannabisTimes. com and Go Greene, a marijuana diversity summit series.

Moxie Meds, is another lucrative business spun out of the marijuana legalization across the

United States. It’s a CBDline of cannabis tinctures, medicines available to heal everything – from period cramps and pain to PTSD. Like Jessica Peters, the president of Moxie Meds, the favorite part of the job is meeting ailing patients who returns as happier and healthier people without chronic pain.

Peters believes women have always been at the helm of the healing industry. It is in times like this that women may help bring cannabis medicine to the mainstream. Tahira Rehmatullah is a consultant helping marijuana business owners and early stage entrepreneurs bring their ideas to life. Jamie Lewis, is the owner and founder of Coloradobased marijuana edibles Mountain Medicine. Her products include chocolate fudge, caramel pretzel bites, and cheese nibbles.

And then there’s Mary

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Industry Leaders Magazine - September ‘17 | 085

imminent trends Jane, the culture editor of High Times, one of the most iconic cannabis publication founded in 1974. There’s also Treat Yourself, cofounded by childhood best friends Cindy and Leone. Treat Yourself is a wellness company selling female-friendly marijuana products such as guilt-free snacks and handcrafted topicals.

Who doesn’t remember Jane West, the CEO of cannabis-focused lifestyle brand Jane West. She also co-founded Women Grow, and is one of the most influential voices in the budding industry.

For many, she has been the face of a broader social change and turning the tables on a maledominated corporate culture. West along with co-founder Jazmin Hupp has held networking events across 45 cities in the United States and Canada.

Last on the list is MJ Freeway, a cannabissoftware created by Amy Poinsett. For entrepreneurs in the cannabis industry, MJ Freeway is the gold standard for tracking inventory. Poinsett and her partner founded the tech company in 2010 to provide tools for growing legal marijuana business and governments to regulate to the growing industry. When she had started the company there were very few women in the industry. Today, the cannabis industry has become the poster child of gender parity.

Alessia Colombo works at a cannabis consulting form. “I come from a male dominated industry and it was quite difficult to know where I was going career wise.” In the past when she used to enter a meeting room, she would often be mistaken for an assistant. Today, when she

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Industry Leaders Magazine - September ‘17 | 087

imminent trends enters a meeting room, she is recognized as a marijuana entrepreneur.

This is a turning point for entrepreneurs, who don’t want to be dictated by the rules in an already-established industry. It’s a thrilling time for the marijuana industry.

The camaraderie in the cannabis industry is astounding. It has definitely become a benchmark for better experience for women in the corporate world. Women face less resistance, and if there is at all, it isn’t because they’re women, but because their work is not pulling any punches. It’s the right time for not just women, but also people who are discriminated against to make it happen in the ever-growing industry. Some express concern that as the industry matures and the rules are set, there could be a shift back to male dominated players. This is not the time to mull over what might happen. Let’s celebrate the success of these women who are breaking the glass ceiling and changing the look of the C-Suites.

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Crowd funded inc.

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A Crowdfunding Platform For More than Just Profits In February this year, Pillars of Eternity 2: Deadfire became the most-funded video game on any crowdfunding platform since 2015. Obsidian Entertainment’s crowdfunding campaign for Pillars of Eternity 2 ended up raking $4.4 million in pledges from over 33,000 backers. It’s said to be the biggest success in the crowdfunding history. To be fair, the crowdfunding campaign’s original goal was to close $1.1 million.

The video game is a direct sequel to the first title in the series, Pillars of Eternity, which was released way back in 2015. If you’re wondering what this game is all about, then allow us to explain: It’s a game

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Crowd funded inc.

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in which players are invited into the world of Eora, on the hunt for a 700-foot tall statue possessed by a reborn god.

The first title in the series earned nearly $3.98 million in 2012. To this day, it remains to be one of the most-funded projects on Kickstarter. In 2015, Obsidian Entertainment announced plans to take a seat on the advisory board at Fig, a new crowdfunding platform that rewards backers with equity investment. Pillars of Eternity 2 is the platform’s first ever project, and also the most successful one.

Crowdfunding on Kickstarter hit an all-time low for the first time around last year. As a matter of fact, the games category was down by 60 percent.

The platform tasted sweet success back in 2015, when Shenmue 3 made more than $6.3 million

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Crowd funded inc.

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and Bloodstained earned $5.5 million. The success of Pillars of Eternity 2 on Fig speaks volumes about the trends in the world of crowdfunding.

The decline of the video game category is ringing alarm bells. For the first time since its founding in 2009, Kickstarter has made less money, roughly 5.8 percent less than in 2016.

So, what’s happening? Is this the onset of the failure of video game category on crowdfunding platforms?

earned twice as much money as video games in 2015. In the year 2016, tabletop games earned nearly six times more.

This particular trend has been uncovered by ICO partners.

In 2016, tabletop category grew by 20 percent, generating revenue from $84 million to almost $102 million. The number of successful campaigns also rose by 24 percent.

According to a market research done by Polygon, Kickstarter is no longer the leader in the crowdfunding market. Back in 2015, successful video game Kickstarters earned $41.5 million. The decline, however, was in 2016, when successful campaigns earned only $17 million. This is a 60 percent decline in revenue for the video game category. This is in spite that the number of successful campaigns in 2016 was the same as in 2015.

In middle of the chaos, Fig has turned out to be a super successful platform for equity investment.

Thanks to its lucrative offering, it has pulled major players from the Kickstarter platform. Under its kitty is now DoubleFine and InXile, as two of the most successful multi-million dollar campaigns from Kickstarter.

Even though the company is under immense scrutiny by the U.S. Securities and Exchange Commission, the case has been dragging for months. Not so long ago, Fig helped DoubleFine’s campaign for Psychonauts 2 earn #4 million, while InXile’s Wasteland earned $3 million.

Additionally,

For a platform competing against

tabletop

games

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Crowd funded inc.

an already established one, it’s quite a show of power. At this point, we should also keep into account some of the smaller, but successful campaigns that took place on Fig. In its first full year, Fig raised $7.8 million from several small scale projects. This number is half of what Kickstarter did in its first year.

So, where did all the money go from Kickstarter? One cannot simply assume that a novice platform such as Fig swooped in and scurried away with a huge chunk of backers.

It might be true that Kickstarter has seen an overall decline in the video game category in 2016. But it is quite

difficult to say where all the money went. What are the possibilities?

Certainly, there must be some explanation we could produce to justify the astounding decline.

For starters, it seems consumers have lost their appetite for the crowdfunding video games entirely. Also, some highprofile projects have failed to deliver on their lofty promises. This, in general, may have soured them in the eyes of the crowdfunding backers.

Secondly, it’s quite hard to ignore the indubitable growth of tabletop games.

Latest figures suggest tabletops could even be stealing a major chunk of revenue from the video games category.

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While people do enjoy playing games on their computers, it’s hard not to refrain oneself from spending a good amount on board games.

It’s an exciting time in the crowdfunding industry.

From wasted money to undelivered games, the industry is not short of controversies. It’s a complicated matter, however, Fig seems to have learned how to navigate without falling into some of the most common pitfalls.

Perhaps, video games could lead the way in the rise of crowdfunding platforms such as Fig, and lure back scorned investors with the prospect of equity and more.

in the world of gaming.

It’s hard to imagine the platform opening up its doors for media, film or other entertainment products. But it’s certainly not to be ignored. Fig may have spent a lot of time in the spotlight over the SEC controversy but it’s paving the way when it comes to giving the consumer more than what they want.

Whatever the case it, it seems equity crowdfunding platforms are here to stay. It will be interesting to see how independent developers are able to juice the platform.

One major hurdle is that Fig is awaiting SEC approval. Once approved, it might become a viable force

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events Let’s talk about what happened at the

GOOGLE I/O 2017

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With a number of tech companies making their mark on the world map, the competition to become the most successful one has been on a constant roll. Despite the tremendous efforts put in by other companies, there is one tech giant which has maintained its position since decades. It began as a pioneer in the search engine branch and went on to be the most trusted tech company as well. Even though the company has come up with impressive technological innovations, it knew the worth of staying updated with the times. This is why even though competitors kept barging in with their expertise, Google Inc. always stood out.

What began as a venture in setting up a search engine which has answers for almost everything possible, Google concentrated on widening its horizon and has now reached a stage wherein

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it aims to master all kinds of fields of technology.

Another major reason behind the tech giant’s success is that it laid stress on updating its technology according to the times and designed new technological devices based on these scientific concepts. Due to its expertise in technology, over time the tech giant earned reliability thanks to its technical knowhow. Now the company has reached a point where simply the name of Google is enough for customers to give preference to its products .

Now this internationally renowned company hosts an annual even wherein it updates the worldwide fans about any further developments and gives web developers an opportunity to interact with the tech experts of Google and ask them queries if they have any. The annual event of Google dubbed as Google I/O 2017 is considered a big deal and hence is much talked about. The company never fails to host this event on a huge scale. This year, the grand event took place from 17th May to 19th May for a span on three days. It was held at the Shoreline Amphitheatre in the headquarters of Google which is Mountain View, California.

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What exactly is the Google I/O 2017?

It can be rightly said that this annual developers’ event by Google is highly anticipated by not only people related to the tech field but also the laymen.

This is in accordance with the fact that people from across the globe show keen interest in the latest innovations as well as upgrades by Google. One of the main reasons behind this kind of fan following is the global outreach of the company. It has billions of users for each innovation and if you add up these numbers, you can imagine the number of people interested in this event.

This also clearly signifies the market reach of the company which at the end results in tremendously high progress reports.

The Google I/O 2017 in particular focused on the technological advances made

by the company. In the form of keynotes delivered by various officials, the tech giant gave a glimpse of all the upgrades which will take place in Google’s products this year.

Even though it is supposed to be a developers’ keynote, the main highlight of this event is that it delivers all the technical information without sounding monotonous at all. Right from one of the employees of the tech department of the company to a layman who is using a Google product, everyone is able to follow that is being said at this event. Everyone has a nerdy side to their personality due to the attractive range of tech gadgets available in the market these days, and this event will definitely bring out that nerdy side. The factor which makes this developers’ keynote so easy to understand is the clever presentation of the

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data. The electronic presentation was kept interactive through reallife examples and live explanation which made it easier to grasp by the audience. This is a clear signification on the company’s priority of giving its customers the first preference. In accordance with this, the entire event was organized which showcased a number of software updates and other new ventures.

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Introduction of new ventures and updates There was a time when Google’s focus was on coming up with technology intended for mobile phones. Now it has moved a step further and focuses on augmented reality. With the help of this new concept of technology, Google has come up with a software that helps you find answers on the search giant not by textual input but through searching on the basis of visual objects. This means that if you have discovered a flower and are curious to gain more insight about it, you turn to Google for help. But how can you look for information if you don’t know which word to use to search for it. Google Lens allows you to conduct the search through the medium of using the visual

identity of the flower. Many tech critics claim that this was the highlight of the event. Such an innovation has given the tech giant an edge in front of other competitors.

Aiming to rule the smart home sector, Google Home has been given a new attractive feature in its latest update. In the following months, this gadget will come with a new handsfree feature which will enable you to take calls through the medium of the Wi-Fi. This smart home appliance is a replacement for your landline which has been outdated long back.

Another major update which the tech giant is excited about is the availability of the Google

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Assistant on iOS devices. This update is in order to give direct competition to Siri.

Google’s voice assistant will be available in the form of an app which can be availed from the app store. While Siri needs to rely on internet-based search engines to complete its answers, Google Assistant has an added advantage as it has its own search engine in sync with the voice assistant.

Apart from Google Assistant, the tech giant has introduced one more feature in order to give a tough fight to Apple. We are all well aware of the ‘Find my iPhone’ feature which comes in handy in case you misplace your iPhone and also thieves become wary before stealing such a device. Up until now, there was no such feature installed in your Android device. Play Protect is a feature which protects your apps as well as smartphone from all kinds of malware.

Along with this comes the ‘Find my Phone’ feature, which holds resemblance with the iPhone tracker.

Apart from these software updates, there was an announcement regarding a standalone VR headset in collaboration with HTC. Except this little information, nothing more was released.

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Experiencing the Google I/O 2017 Google has attained the title of being one of the coolest workspaces in the world time and again. The tech giant has used this quality as its added advantage during its annual developers’ event as well.

This is what makes people excited to attend this event. Apart from the usual speeches and digital documentation, Google I/O 2017 offers the best of food delicacies and beverages one can ask for. It also had a funky water supplier to quench your thirst. If you are not quite fond of the sunny weather, chug down a pint of beer to cool down. In order to make sure that speeches don’t get monotonous, there are fun activities going on at various spots. All in all it is like an amusement park with enlightening information.

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The Big E

Date: 15 Sept-01 Oct ’17

The Big E is a 17 day event being held from 15th September to the 1st October 2017 in West Springfield, United States Of America.

This event is the most renowned trade fair that incorporates all sorts of extravaganza, entertainments along with luxury within its sway. Its craze is born out of the provision of a huge vista of food, drinks, rides, scope of ceaseless shopping, wide disposition of art and crafts take has its orientation to the aesthetic as well as sophisticated taste of its visitors. Museums, circus, entertainments with animals, parade, exhibitions, parades and many more adds pomp and splendor to the world of celebration in the life of the visitors. The Big E has its motto manifested in providing utmost entertainments by the appearance of celebrities who shall perform their art in the show. Celebrities shall be performing dance, music, gymnastics, telling funny jokes while juggling on cycle and so on. This show, thus, certainly promises abundant fun as well as scope of earning revenue in the process etc. in the Business Services, Consumer & Carnivals industries.

Venue: West Springfield, USA Expocruz

Date: 22 Sept-01 Oct ’17

Expocruz is an event that is concerned with maximizing the trade possibilities of the exhibitors and the attendees pertaining to various sectors. This event brings in 500,000 visitors every year and has been growing from strength to strength in every edition.

Companies from all across the world interested in exporting are supposed to present their products in this event. Expocruz, in its previous edition, brought together around 2,240 exhibitors and 549, 406 visitors under one roof. This event represented several sectors like automobile, telecommunications, construction, agriculture, art and culture and many more. Being devoted Industry Leaders Magazine - September ‘17 | 108

to increasing the business potentials of the exhibitors and the attendees, this event is a great platform for promoting business and launching of new brands.

Venue: Santa Cruz de la Sierra, Bolivia Mall Show Toronto

Date: 25 Sept-01 Oct ’17

Mall Show Toronto is a 7 day event being held from 25th Sep to 1st Oct 2017 at the Gerrard Square Shopping Centre in Toronto, Canada. Vendor space available at the East York Town Centre for Craft, Home and Better Living Vendors - all welcomed to apply. East York Town Centre is a 381,085 sq. ft. retail and office complex offering the convenience of one-stop shopping at the centre of this thriving community. The mall welcomes over 5 million shoppers annually.

Venue: Toronto, Canada Zak India Consumer Products Expo – Singapore

Date: 28 Sept-01 Oct ’17

Being held at Singapore Expo, Singapore, the Zak Salaam India Consumer Products Expo-Singapore is an entrusted household consumables & home supplies industry expo. Being organized by ZAK Trade Fairs and Exhibitions Private Limited, it is characterized as one of the leading platform for displaying furniture, gifts and consumable products.

Venue: Singapore Interior Design Show

Date: 28 Sept-01 Oct ’17

Interior Design Show is a 4 day event being held from 28th September to 1st October 2017 at the Vancouver Convention & Industry Leaders Magazine - September ‘17 | 109

Exhibition Centre in Vancouver, Canada. This event showcases products like design objects, architecture, interior design, fashion design, industrial design, communication design, furniture design, jewellery design etc. in the Architecture & Designing industry.

Venue: Vancouver, Canada Premiere Classe Tuileries

Date: 28 Sept-01 Oct ’17

Premiere Classe is emerged out as an international event bringing the leading visitors, Department Store Buyers, Fashion Licensees, Distributors, Importers / Wholesalers, Fashion Professionals on one platform. The event is hosted by the Comexposium at Jardin des Tuileries.

Venue: Chelles, France Abuja International Motor Fair

Date: 25 Oct-01 Nov ’17

Abuja International Motor Fair is at the Eagle Square in Abuja, Nigeria. This event showcases products like; Nigeria is at a vantage position to sustain a viable automotive sector. Nigeria’s potential vehicle market is over a million annually with increasing capacity for more. Forecasts have it that the Nigerian market will soon become the major hub of automotive business in Africa and therefore a market any serious investor cannot ignore etc. in the automotive industry.

Venue: Abuja, Nigeria Invite Medical Week

Date: 28 Oct-01 Nov ’17

Invite Medical Week is a 5 day event being held from 28th October Industry Leaders Magazine - September ‘17 | 110

to 1st November 2017 at Baden-Baden, Germany. This event showcases product from Medical & Pharmaceutical industry.

Venue: Baden-Baden, Germany China Public Security Expo

Date: 29 Oct-01 Nov ’17

China Public Security Expo is a 4 day event being held from 29th October to the 1st November 2017 in Shenzhen, China. This event showcases products like video analytics system cameras, video storage system, control management system, control and display system will be exhibited in China Public Security Expo event. Access controls like card reader, control unit, software, smart card etc. in the Industrial Products industry.

Venue: Shenzhen, China Interservice Industry Training Simulation & Education Conference

Date: 27 Nov-01 Dec ’17

Interservice Industry Training Simulation & Education Conference is a 5 day event being held from 27th November to 1st December 2017 in Orlando, United States Of America. This event showcases product from Business Services industry. This is one of the fastest growing sectors of the present time. The sector is a comparatively new one which has become very popular within a short span of time. Nowadays all the companies require services from this sector. Being a growing industry this one is undergoing rapid development and many new products and technologies are making their entrance in the market with every passing day. This expo takes an initiative to bring all the products and services of this sector under the same roof.I/ITSEC Expo highlights the recent developments of this sector in front of a large number of Industry Leaders Magazine - September ‘17 | 111

visitors thereby making them aware of the latest trends.

Venue: Orlando, USA The International Workboat Show

Date: 29 Nov-01 Dec ’17

The International Workboat Show occupies the pride of place as the biggest marine industry-related trade event in North America.

The event offers considerable opportunities to participating business houses to strengthen their business networks, and get familiar with the latest tools and technologies that are being used in this sector. The show draws in active participation from a large number of visitors, with direct purchasing authority.

Commercial marine vessels and related equipments are put on exhibit at the show, and topical conference sessions and award ceremonies are also arranged for during the exhibition. New and exclusive ranges of marine logistics items are also launched during the event as well.

Venue: New Orleans, USA New York Shoe Expo

Date: 29 Nov-01 Dec ’17

The New York Shoe Expo is the premiere place for retail buyers to discover new footwear brands, visit with industry partners and get the first look at the latest footwear trends. The trade show brings together retailers, brands, designers, buyers and sellers four times a year all right here in New York City. Attendees get exclusive access to showrooms, networking opportunities, and FFANY sponsored industry events. As a producer of the New York Shoe Expo, the Fashion Footwear Association of New York (FFANY) seeks to grow and serve a vibrant, global footwear industry, where doing business in New York is profitable and Industry Leaders Magazine - September ‘17 | 112

easy for its membership, and where the industry strengthens through education and unites in charity.

Venue: New York, USA HomeBuilder & Renovator Expo

Date: 29 Nov-01 Dec ’17

HomeBuilder & Renovator Expo is a 3 day event being held from 29th November to 1st December 2017 at the Metro Toronto Convention Centre in Toronto, Canada. This event showcases product from Architecture & Designing, Building Construction, Real Estate industries. This event showcases products like residential builders, professional renovators, contractors, specifiers, designers, and architects - residential construction professionals responsible for the design etc. in the Architecture & Designing, Building Construction, Real Estate industries.

Venue: Toronto, Canada Construct Canada

Date: 29 Nov-01 Dec ’17

Construct Canada is a 3 day event being held from 29th November to 1st December 2017 at the Metro Toronto Convention Centre in Toronto, Canada. This event showcases product from Architecture & Designing, Building Construction, Furniture, Home Furnishings & Home Textiles, Household Consumables, Real Estate industries.

This event showcases products like design construction, retrofit, and renovation of all forms of buildings-commercial, high-rise, residential, industrial, retail, and institutional etc. in the Building Construction, Home Furnishings & Home Textiles, Architecture & Designing, Real Estate Agents, Household Consumables, Furniture industries.

Venue: Toronto, Canada Industry Leaders Magazine - September ‘17 | 113