Archive for Technology – Page 6

Dear Billionaire Club, Make Room for the Youth

Luminar Technologies is a buzzing new company that offers technology assisting development of self-driving cars. Austin Russell is the founder and CEO of Luminar, but is a surprisingly young age- just 25! Though still very young, Austin Russell is now a member of the exclusive billionaires club. He holds over 100 million shares of Luminar worth about $2.4 billion. Austin Russell set on on his dream to further the development of autonomous vehicle technology when he received a $100,000 scholarship from Peter Theil to drop out of his college, Stanford. His company which creates a safer driving experience by utilizing laser beams to measure distances around the cars has secured Volvo Cars and others as customers. It is estimated that Luminar will generate $1.3 in sales per year by 2026. Though so young, Austin Russell admits it was not an easy journey, but explains that he persevered.

“It has been incredibly intense, exhausting… Everything that we have had to go through every day, climbing this.”

“I am still relatively young, but… there has been a lot of blood, sweat and tears in this. And I was lucky to be able to keep a good enough turnout ”

Austin Russell is a unique entrepreneur because he is one of very few people to become a billionaire before the age of 30. He got there by sheer determination and drive of changing the world of self-driving cars. These are very entrepreneurial traits. I am extremely inspired by Austin Russell, not only because I aspire to be a billionaire, but I also find it very exemplary how driven he is. Despite being exhausted and burnt out, Austin kept pushing to realize his goals

https://www.entrepreneur.com/article/361130

 

Josh Feinsilber: Kahoot, But Different?

Josh Feinsilber is a young teen and 2019 high-school who created the learning site Gimkit, which was inspired by the popular quiz-like learning game, Kahoot. Feinsilber experienced Kahoot and decided to make a different and better type of app that is very personalized and oriented on achieving goals, so as to motivate students. At his small high school in the Seattle area, more weight is put on projects and hands-on activities than grades; he actually developed Gimkit originally as an independent study project. Now, Feinsilber is worth around $400,000 and Gimkit is worth around $23,000. The site has received criticism for its similarities to other apps and that it is subscription-based, but it has also received a lot a praise at the same time for its distinctive features and success: test scores from users have improved more than that of users of other similar platforms such as Kahoot and Quizlet. Also, the personalization aspect where teachers make “kits,” giving rewards when students master concepts and providing educators easy access to data telling student progress. Overall, Feinsilber used his entrepreneurial mindset to take an existing idea and improve it to make a better product for users.

David Karp – Tumblr

David Karp started the popular web platform Tumbler, however many do not know about the start of the platform. David Karp became fascinated by technology at a young age. He was born into the family of a teacher and a composer and started teaching himself HTML at the very young age of 11 years old. I don’t know about you, but I personally had no idea how to really even work a computer at 11 let alone teach myself HTML. At age 15 he became homeschooled by his mother so that he was able to focus on gaining an internship at the animation company Frederator Studios. Karp later went on to securing  a position at UrbanBaby which is a site that allows future parents to post questions for other to answer.

When David was just 17 he moved away to Japan for a period of time to immerse himself in the technology culture of Japan. Karp returned to the United States and when he did he was moved to the chief technology officer position at UrbanBaby until the company sold 2006. He then went on to raise funds to invest in his own consulting company called Davidville and then later on hired Marco Arment to help with that venture.

In 2007 David Karp launched the site Tumblr as a platform for short blogs, pictures and other forms of media. The site gave the user control over making the themes to their posts customizable to them or they had the option of using preset ones that were already on the platform. Tumblr became popular not only for everyday users but for companies to partner with the platform and create effective feeds that would market to their specific companies.

As time passed Tumblr became more and more popular. About 5 years after it was first launched the platform hosted approximately 70 million blog posts and had a staff of around 100 people. About a year later the company was purchased by Yahoo! for around $1 billion but Karp remained as the CEO. Currently Tumblr is now owned by Verizon and David Karp is no longer the CEO.

Even though Tumblr is no longer a popular platform it still was something that a generation will remember when they hear the name. What is interesting is how young Karp was when he started down the path that would lead him to Tumblr. It goes to show that you are never too young to start working towards something big and that even a small idea like a blog platform can turn into something much bigger.

Nick Cherukuri: ThirdEye Gen

Nick Cherukuri

The Google Glass failed when it was released, but this did not deter Nick Cherukuri from pursuing business applications of mixed reality and augmented reality glasses.  ThirdEye was formed from a team with 50+ years of experience developing augmented reality technology for the Department of Defense.  The company’s vision is to “create the next generation of Mixed Reality Glasses and augmented/mixed reality software.”  The technology they are developing will “bring about a new era of hands-free human interaction via directly interacting with surrounding objects or placing digital info into your field of view.”  Nick believes that these glasses can “have a life changing impact on the way workers go about their everyday tasks.”  The glasses allow workers to view schematics, diagrams, and instructions while improving first time fix rates, decrease error rates, and do more quality jobs in a day.  The ThirdEye glasses can also be used for collaboration as they have a feature that allows a supervisor or expert to see what the user sees and provide feedback, and all of the features can be used hands free.  Another use of the glasses is for training new employees.  The glasses are being developed for a wide range of uses including aerospace & defense, architecture, education, field services, first responders, healthcare, law enforcement, and manufacturing.  First responders will be able to use the glasses to access patient records and talk to doctors.  Law enforcement can use the glasses for suspect facial recognition in real-time.  Security can be a concern for the glasses, but ThirdEye says that their Mobile Device Management platform can protect devices and data at every level.  This technology is not being widely used at this point, but it will be interesting to see where it goes as it is further developed.

Netflix: from the DVD store to your Smartphone

Netflix is so ubiquitous these days that it’s more of a generic term for streaming entertainment than it is a specific brand name. When something becomes such a bedrock of culture, it’s easy to forget to ask, “where did this come from?” but it can be very useful to know. Interestingly, there are two different foundation stories, depending on which founder you ask.

File:Netflix logo.svg - Wikimedia Commons

The first version of the story goes like this: CEO Reed Hastings got the idea when Blockbuster charged him $40 of late fees for Apollo 13. Because of this, he went on to have the idea for and found Netflix.

The second version of the story goes like this: Marc Randolph claims that he and Hastings decided they wanted to create “the Amazon.com of something,” in 1977 and decided on DVDs because they would hold up in the mail. They didn’t have a DVD, but they had a CD, which they mailed a few blocks as a trial run. When it arrived in one piece, they determined that Netflix was viable.

A great example of how changing technology can force business change is when Hastings, in 2005, was speaking about streaming video and stated that he did foresee an internet-based future. But he also expected Netflix to dominate DVD video for at least another decade. In 2007, Netflix launched their service.

To show the importance of looking ahead, Netflix started investing just a few percent of revenue each year into creating a streaming service. This was an exciting business proposition not only because of an emerging big business area, but because the mailing costs would be eliminated. Once Netflix has the rights to rent out the movie, the expenses are largely fixed. Netflix then switched over to a subscription model of business rather than a pay-per-rental service, and the rest is quite literally history.

Blake Ross

Blake Ross’ interest in software development began at an early age. He used America Online to create his first website when he was only 10. Some years later, Ross discovered Netscape, an open-source web browser that was fighting a losing battle against Microsoft’s Internet Explorer. Motivated by his mother’s frustrated experience with Internet Explorer, Ross began contributing to Netscape. When he was 16, Ross became an intern at Netscape Communications Corporation. While interning there, he became disenchanted with the browser they were having him work on. He and his colleague, Dave Hyatt, decided to make a new version of Netscape that would be more simple and user-friendly. They then created the browser, Mozilla Firefox. which was released on November 9th, 2004. Calling Firefox a huge success would be underselling it. In a month, Firefox had been downloaded 100 million times, and in a year, it became the most preferred browser in the whole world. After leaving Netscape, Ross would work on developing Parakey, a user interface designed to bridge the gap between the web and the desktop. In 2007 Facebook would purchase Parakey for a supposedly multi-million price. Ross then joined Facebook and was their Director of Product until he resigned in 2013 to pursue other interests.

Mozilla Firefox was a success because it was innovative in how easy-to-use it was. Ross recognized how complicated other web browsers were, and sought to fix the issue. Ross also knew that he could not succeed alone, which is why he worked for other companies and/or with partners. A key skill to being an entrepreneur is knowing what you are capable of and what you should assign others to do. Blake Ross benefitted enjoying his work as well. He didn’t make one of the most popular web browsers ever just for the money.

Drones: From the Public to the Government

When most people consider starting their first business, most think of the simpler methods of drop shipping, Amazon selling, or some hands-on job like landscaping among other things. This is largely due to the simplicity and minimum risk associated with these ventures.  However, George Matus was no ordinary 15 year old kid. From a very young age, George Matus was intrigued with the world of drones and UAVs or Unmanned Aerial Vehicles. At the age of 14, Matus was a drone test flyer for a company.

Through this experience, George Matus says he soon compiled a list of things that would make the perfect drone. Using this knowledge, George started his own drone business: Teal Drones. Matus’ goal was to create a simple yet functional drone that could be easily operated by the general public. The support began pouring in and before George was 21, he had accumulated $15 million of venture funding for his idea. This is a major breakthrough and a significant step in the right direction for Matus and Teal Drones. They came out with several drone models that features the simplicity and performance that George had originally envisioned. Drone One was their most popular original product and its incredible popularity attracted much attention within the drone community.

While this is an accomplishment in it of itself, the real attention would come in the form of a government contract.  This caused a dramatic shift in teals product line. While they still remained focused on the ideology of simplicity, functionality and the consumer, they now had enough traction to expand into the elite drone world. Their latest project is called the Golden Eagle and is a high tech, secure and highly functional drone.  The description on their website states, “Golden Eagle is an American-made sUAS designed to be applied in a variety of use cases within the Department of Defense and other Government agencies. The Golden Eagle’s primary application is short-range ISR capabilities in government operations, but has been adopted by industry for managing wildlife and land, as well as infrastructure and security.” While this new product has commercial and public-friendly capabilities, it can be applied in a plethora of situations from search and rescue to surveillance to wildlife management. From an infrared camera to autonomous flight, George Matus and his team at Teal Drones has created an innovative drone and they have greatly impacted the arena of unmanned aerial vehicles.

More Than Just a Quiz

Throughout school, memorization is a key theme for many classes. People use everything from flash cards to repetition methods to remember key terms from different courses. While these ways have worked for decades, there has always been a demand for universally accessible and easily creatable material concerning this subject. These two main ideals were instrumental when Andrew Sutherland created the online quiz platform called Quizlet. While this website is now a household name, at its creation in 2005, this idea was revolutionary. You could now easily create online flashcards that could be shared and viewed across the internet.

Sutherland originally created Quizlet to assist him with his French homework as a sophomore in high school. After receiving attention and popularity concerning his first site, Sutherland began to realize the  potential of such an idea. Over the next 15 years, Andrew studied computer science at MIT and scaled his business incredibly. The site now has over 300 million quiz sets and over 30 million monthly participants. For many, Quizlet is a life saver for studying and memorizing. Sutherland found a pain in his own life and realized it was a universal need for students across the world.

Unmanned Vehicle Technologies

Chris Fink founded Unmanned Vehicle Technologies as a way to get out of his corporate job.  He had worked as a firefighter and dispatcher using drones, but he found that there was a lack of support from the manufacturers.  Chris decided to fix this problem by making a company that would focus on supporting customers and meeting their needs.  He founded UVT in 2014 with a home built drone with a GoPro strapped to it, but the company has now had 4,200 customers and sold more than 19,000 drones.  In 2017, Chris met Andrew McKinney, the owner of Express Aerial Solutions and another firefighter and dispatcher, who was working on commercial leasing for industrial drones because many companies could not afford the large cost of a drone up front.  UVT and EAS merged to provide a new method for customers to get UVT’s products and services.  In 2017, Matt Rybar, a Sheriff’s Deputy, merged his company, Alpha Consulting Group, into UVT.  Alpha Consulting Group focused on training for drones to be adopted into public safety agencies.  This merge allowed UVT to expand its offerings to customers.  UVT seeks to supply customers with the most advanced industrial drones that have customized hardware and software to meet their needs as well as providing outstanding customer support.

Chris also has a small unmanned aircraft systems pilot ground and flight certification that he has used learn about drone operation which helps him provide better solutions through his company.  People who have worked with Chris say that he understands the market and is open to ideas and feedback.  His willingness to listen to customers and employees is likely a large part of why his company has been successful.  He understands how important it is to learn the customer’s needs and create a high quality solution to meet it.

How do you Search?

With so much information out there in the world, and everything turning digital, getting the information was hard. And at the start of the World Wide Web, search engines were few and far between; very hard to come by. That did not stop Blake Ross. Many do not know him for his name however, but for what he created: Mozilla FireFox, the search engine.

When people were first starting out the idea of gathering information from the internet was very cool, however, getting the information was a challenge. When the Web first came out, many people stuck to the original base search engine that came with the computer. It was hard to manage and navigate on, and allowed many people to not want to search information online. This gave Ross a great idea, create an easy to use search engine that could be interchanged on many devices – from Apple, to Microsoft, and even Sony – FireFox is a staple when it comes to search engines. It is very easy to use and has eliminated headaches of users.

The Mozilla FireFox search engine was released when Ross was only 19. He goes to show that you do not have to be from money, or even out of your teenage years to make a major life impact on the world. He took an idea, matched it to a problem and got to work. He establish, what today is considered a leading search engine, for computers all over the world, and released it at only 19. He is the definition of entrepreneur. He took an every day problem and created a solution.