Post-WeWork debacle, SoftBank will map out strategy to investors
SoftBank CEO Masayoshi Son will map out the company’s strategy at a New York investor meeting for the first time since WeWork’s implosion led to another huge investment in the co-working firm.
Elliott Management Corp., among others, will be waiting. The activist investor called for a buyback of as much as $20 billion of the Japanese technology conglomerate’s shares, Bloomberg reported. But Son said there was “no rush,” and that he would like to sell as little as possible.
This Week in Real Estate Innovation
PROPTECH CORNER
Fifth Wall’s Brendan Wallace on coronavirus, WeWork and what’s shaking up proptech | TechCrunch
Last week, we interviewed Brendan Wallace, a real estate-focused venture capitalist whose portfolio companies include Opendoor, which buys and sell homes, and scooter company Lime, which helps building owners navigate around parking requirements by installing docking stations instead.
Ollie co-founders out at co-living startup | The Real Deal
The co-founders of Ollie, a co-living startup, have left their roles at the firm, The Real Deal has learned.
Chris Bledsoe, CEO, and Andrew Bledsoe, COO, left the company last month. An Ollie spokesperson confirmed the brothers were no longer managing the company, and said the two will continue to advise the company as members of the board.
Zillow revenue doubled to $2.7B on iBuying bet – but losses ballooned | The Real Deal
After betting heavily on iBuying, Zillow Group’s revenue more than doubled in 2019 to $2.7 billion, the company said Wednesday.
Just 20 months after buying its first home, the Seattle-based listings giant said revenue from its Homes segment topped $1.365 billion in 2019, compared to just $52.4 million in 2018.
During an earnings call on Wednesday, Zillow co-founder and CEO Rich Barton called 2019 “tumultuously remarkable” as the company chased what he’s previously called a moonshot bet on iBuying.
OPPORTUNITY ZONES
PropTech & Opportunity Zones with Steve Nson | OpportunityDb Podcast
How can real estate technology, or property technology, benefit Opportunity Zone marketplace participants?
Steve Nson is founder of AnySizeDeals, a matchmaking platform for real estate investors that also organizes live events. Their upcoming AnySizeDeals Week event will focus on how real estate interacts with AI and robotics, innovation, Opportunity Zones, and blockchain.
ARTIFICIAL INTELLINGENCE & ROBOTICS
Survey: Retail ‘winners’ view robotics differently | Chain Store Age
According to “The Real Role of Robotic Automation in Retail,” 45% of retail winners,” defined as retailers with same-store/channel sales growth above 4.5%, see improving the response process to increasing volumes of consumer inquiries (such as order status) as a top three business challenge driving them to add robotics. Only 24% of other retailers cited this challenge.
Breakingviews – Bank of England’s AI approach will toughen up | Nasdaq
LONDON (Reuters Breakingviews) – The Bank of England last year picked artificial-intelligence pioneer Alan Turing as the face of its new 50-pound note. It’s an apt choice given the central bank will quickly have to figure out how to ensure that the spread of smart robots throughout finance is a force for good rather than a destabilising influence.
WHAT’S NEW IN BLOCKCHAIN?
SMARTLANDS AND SOTHEBY’S TOKENISE LONDON REAL ESTATE | ICO Examiner
UK Sotheby’s International Realty and blockchain-based digital securities issuance platform Smartlands (SLT) have released further details of their collaboration to tokenise shares in a pilot project for a newly-built duplex apartment at Lillie Square in London. The property, priced at £1,819,000, is expected to be completed by the end of Q1 2020 and will be managed by UK Sotheby’s.
FUTURE OF WORK
The future of work looks like staying out of the office | Arts Technica
It’s 2020: we finally live in the future! Or at least a future—one where broadband Internet connections and portable, reasonably high-powered computing tools are pervasive and widely accessible, even if they aren’t yet universal. Millions of workers, including all of us here at Ars, use those tools to do traditional “office jobs” from nontraditional home offices.
Can Micro Retail In Coworking Lift The Sector Out Of Crisis? | Bisnow
“I looked at the more traditional retail spaces, and I was like, ‘I cannot afford this,’” De Leon said. “Aside from the rent, building out a location would cost about $40K, and I still need money to keep the business afloat while waiting for clientele and customers. I was looking at [spending at least] $100K. “I worked in nonprofit education,” she said. “It was very discouraging.” Walking around the same neighborhood, she saw a building with a small ground-floor lounge. She approached the owner and asked if it was available. It was the start of her business endeavor.
THE VENETIAN, LAS VEGAS | SEPT. 8 – 11, 2020 | ANYSIZEDEALSWEEK.COM
AnySizeDeals Week Update
Real Estate Owners/Operators
If you own or operate a real estate portfolio and are interested in staying abreast of the trends transforming the real estate industry, then AnySizeDeals Week – The Festival of Real Estate Innovation is your go to event.
Join us for an exciting 4 days at The Venetian Resort in Las Vegas and share insights, collaborate, network and do deals with some of the most innovative companies in the industry.
Innovators
If you are an innovator and are creating products that can help real estate owners provide better services to their tenants, attract new tenants or retain existing tenants then reach out to us.
Become a Partner of AnySizeDeals Week – The Festival of Real Estate Innovation and get the opportunity to meet the top owners and operators in the country in a collaborative format at our unique event in Las Vegas.
