Single File, Everyone: The Advent of the Universal Digital Profile

Ducks at Parramatta, Image by Stilherrian

Throughout grades 1 through 6 at Public School 79 in Queens, New York, the teachers had one universal command they relied upon to try to quickly gather and organize the students in each class during various activities. They would announce “Single file, everyone”, and expect us all to form a straight line with one student after the other all pointed in the same direction. They would usually deploy this to move us in an orderly fashion to and from the lunchroom, schoolyard, gym and auditorium. Not that this always worked as several requests were usually required to get us all to quiet down and line up.

Just as it was used back then as a means to bring order to a room full of energetic grade-schoolers,  those three magic words can now be re-contextualized and re-purposed for today’s digital everything world when applied to a new means of bringing more control and safety to our personal data. This emerging mechanism is called the universal digital profile (UDP). It involves the creation of a dedicated file to compile and port an individual user’s personal data, content and usage preferences from one online service to another.

This is being done in an effort to provide enhanced protection to consumers and their digital data at a critical time when there have been so many online security breaches of major systems that were supposedly safe. More importantly, these devastating hacks during the past several years have resulted in the massive betrayals of users’ trust that need to be restored.

Clearly and concisely setting the stage for the development of UDPs was an informative article on TechCrunch.com entitled The Birth of the Universal Digital Profile, by Rand Hindi, posted on May 22, 2018. I suggest reading it in its entirety. I will summarize and annotate it, and then pose some of my own questions about these, well, pro-files.

Image from Pixabay

The Need Arises

It is axiomatic today that there is more concern over online privacy among Europeans than other populations elsewhere. This is due, in part, to the frequency and depth of the above mentioned deliberate data thefts. These incidents and other policy considerations led to the May 25, 2018 enactment and implementation of the General Data Protection Regulation (GDPR) across the EU.

The US is presently catching up in its own citizens’ levels of rising privacy concerns following the recent Facebook and Cambridge Analytica scandal.¹

Among its many requirements, the GDPR ensures that all individuals have the right to personal data portability, whereby the users of any online services can request from these sites that their personal data can be “transferred to another provider, without hindrance”. This must be done in a file format the receiving provider requires. For example, if a user is changing from one social network to another, all of his or her personal data is to be transferred to the new social network in a workable file format.

The exact definition of “personal profile” is still open to question. The net effect of this provision is that one’s “online identity will soon be transferable” to numerous other providers. As such transfer requests increase, corporate owners of such providers will likely “want to minimize” their means of compliance. The establishment of standardized data formats and application programming interfaces (APIs) enabling this process would be a means to accomplish this.²

Aurora Borealis, Image by Beverly

A Potential Solution

It will soon become evident to consumers that their digital profiles can become durable, reusable and, hence, universal for other online destinations. They will view their digital profiles “as a shared resource” for similar situations. For instance, if a user has uploaded his or her profile to a site for verification, in turn, he or she should be able to re-use such a “verified profile elsewhere”.³  

This would be similar to the Facebook Connect’s functionality but with one key distinction: Facebook would retain no discretion at all over where the digital profile goes and who can access it following its transfer. That control would remain entirely with the profile’s owner.

As the UDP enters the “mainstream” usage, it may well give rise to “an entire new digital economy”. This might include new services such as “personal data clouds to personal identity aggregators or data monetization platforms”. In effect, increased interoperability between and among sites and services for UDPs might enable these potential business opportunities to take root and then scale up.

Digital profiles, especially now for Europeans, is one of the critical “impacts of the GDPR” on their online lives and freedom. Perhaps its objectives will spread to other nations.

My Questions

  • Can the UDP’s usage be expanded elsewhere without the need for enacting GDPR-like regulation? That is, for economic, public relations and technological reasons, might online services support UDPs on their own initiatives rather than waiting for more governments to impose such requirements?
  • What additional data points and functional capabilities would enhance the usefulness, propagation and extensibility of UDPs?
  • What other business and entrepreneurial opportunities might emerge from the potential web-wide spread of a GDPR and/or UDP-based model?
  • Are there any other Public School 79 graduates out there reading this?

On a very cold night in New York on December 20, 2017, I had an opportunity to attend a fascinating presentation  by Dr. Irene Ng before the Data Scientists group from Meetup.com about an inventive alternative for dispensing one’s personal digital data called the Hub of All Things (HAT). [Clickable also @hubofallthings.] In its simplest terms, this involves the provision of a form of virtual container (the “HAT” situated on a “micro-server”), storing an individual’s personal data. This system enables the user to have much more control over whom, and to what degree, they choose to allow access to their data by any online services, vendors or sites. For the details on the origin, approach and technology of the HAT, I highly recommend a click-through to a very enlightening new article on Medium.com entitled What is the HAT?, by Jonathan Holtby, posted yesterday on June 6, 2018.


1.  This week’s news bring yet another potential scandal for Facebook following reports that they shared extensive amounts of personal user data with mobile device vendors, including Huawei, a Chinese company that has been reported to have ties with China’s government and military. Here is some of the lead coverage so far from this week’s editions of The News York Times:

2.  See also these five Subway Fold posts involving the use of APIs in other systems.

3.  See Blockchain To The Rescue Creating A ‘New Future’ For Digital Identities, by Roger Aitlen, posted on Forbes.com on January 7, 2018, for a report on some of the concepts of, and participants in, this type of technology.

Mary Meeker’s 2018 Massive Internet Trends Presentation

“Blue Marble – 2002”, Image by NASA Goddard Space Flight Center

Yesterday, on May 30, 2018, at the 2018 Code Conference being held this week in Rancho Palos Verdes, California, Mary Meeker, a world-renowned Internet expert and partner in the venture capital firm Kleiner Perkins, presented her seventeenth annual in-depth and highly analytical presentation on current Internet trends. It is an absolutely remarkable accomplishment that is highly respected throughout the global technology industry and economy. The video of her speech is available here on Recode.com.

Her 2018 Internet Trends presentation file is divided into a series of twelve main sections covering, among many other things: Internet user, usage and devices growth rates; online payment systems; content creation; voice interfaces’ significant potential;  user experiences; Amazon’s and Alibaba’s far-reaching effects; data collection, regulation and privacy concerns; tech company trends and investment analyses; e-commerce sectors, consumers experiences and emerging trends;  social media’s breadth, revenue streams and influences; the grown and returns of online advertising; changes in consumer spending patterns and online pricing; key transportation, healthcare and demographic patterns;  disruptions in how, where and whether we work; increasingly sophisticated data gathering, analytics and optimization; AI trends, capabilities and market drivers; lifelong learning for the workforce; many robust online markets in China for, among many, online retail, mobile media and entertainment services; and a macro analysis of the US economy and online marketplaces.

That is just the tip of the tip of the iceberg in this 294-slide deck.

Ms. Meeker’s assessments and predictions here form an extraordinarily comprehensive and insightful piece of work. There is much here for anyone and everyone to learn and consider in the current and trending states nearly anything and everything online. Moreover, there are likely many potential opportunities for new and established businesses, as well as other institutions, within this file.

I very highly recommend that you set aside some time to thoroughly read through and fully immerse your thoughts in Ms. Meeker’s entire presentation. You will be richly rewarded with knowledge and insight that can potentially yield a world of informative, strategic and practical dividends.

TechDay New York 2018: 500 Local Startups’ Displays, Demos and Delights for the Crowd

All photos on this page by Alan Rothman.

Sometimes in traditional advertising for creative works like movies, TV shows, books and plays, the quoted reviews and taglines include the exclamation “This one’s got it all!” Yet this is only rarely, if ever, true.

Well, wait a minute. Let’s check that.

Last Thursday, May 10th, I had the great pleasure of attending TechDay New York 2018, held at Pier 94, on the West Side of midtown Manhattan. This is a monumental annual exhibition of 500 startups located throughout NYC almost did have it all. In addition to all of these new companies, there were separate areas set up for brief products and services demos and talks by industry experts. Even the TV show Shark Tank was on site there.

First and foremost, massive amounts of thanks to everyone at Techday for putting on such a terrifically enjoyable, informative and memorable event. Their efforts clearly showed that they worked long and hard to get everything about it right.

On to the show …

One of New York City’s greatest economic and cultural strengths has always been its incredible global diversity of it population. So, too, is that dynamic comparably evident in the breadth of it startup ecosystem. From one end of Pier 94 to the other, there was artificial intelligence this, blockchain that, and data analytics everything infused everywhere.

Just a sampling of who and what were on display, among many others, were startups in legal services, architecture, editorial software, video search, incubators and accelerators, social media support services, event planning platforms, programmer aptitude testing, intellectual property protection, pharmacy order and delivery services, office design consultants, branding and digital experience designers, augmented and virtual reality hardware and software, venture capitalist, crowdfunding services, multi-platform public relations strategists, fashion designers, food services (some displaying much chocolate!), consumer data tracking analyst, competitive intelligence trackers and analysts, restaurant reservations, media consultants, phone apps, online security planning and systems, fully integrated electronic health records and billing systems, and dedicated tech recruiters as well as exhibitors themselves looking for new talent. Whew!

Notwithstanding the vastness of the exhibition space, hundreds of startups and thousands of attendees, the organization and presentations of the startups’ display areas was well planned and easy to navigate. The startups were grouped in helpful sectors for social media, e-commerce, fintech and others into more general categories.

The three among the twelve TechDay Talks I attended were quite compelling and evinced great enthusiasm by both the speakers and their audiences. These included:

Above all other considerations, I found every entrepreneur I stopped and spoke with, asking them to tell me about their company, to be highly enthusiastic, engaging and sincere. They were knowledgeable about their markets and competitors, sounded willing to adapt to changing market conditions and, most importantly, convinced that they would become successful. At no point did any of them move on to their next visitors until they sensed that I understood what they were saying and encouraging me to follow their progress online. They were not so much giving visitors hard sales pitches, but rather, much more of the who, what, where, how and when of their businesses. My gratitude to all of them for their patience with me and many of the other attendees I saw them talking to with the same level of professionalism.

Below are some of the photos I took while I was there. I was trying to capture some sense of infectious energy and engagement being generated across entire day’s events.

My very best wishes to all 500 startups to succeed and prosper.

 


 *   For some very worthwhile deep and wide analysis of the effects of AI upon current and future employment, I highly recommend the recently published book entitled Human + Machine: Reimagining Work in the Age of AI, by Paul Daugherty (Harvard Business Review Press, 2018).


 

 

 

 

 

Book Review of “Built: The Hidden Stories Behind Our Structures”

“Brooklyn Bridge”, Image by Antti-Jussi Kovalainen

During the summer of 2010, I worked in an office directly across the street from the World Trade Center reconstruction site. For several months while my floor was being renovated, my temporary office windows faced west looking out onto the early construction of One World Trade Center. The daily swirl of highly coordinated planning and building was one of the most remarkable things I have ever seen. Hundreds of specialized craftsmen, managers, engineers, materials suppliers and numerous more worked in complete sync with each other to precisely anchor and assemble the tremendous base of the structure. Then they began steadily assembling the 104 stories of steel, concrete and glass above it climbing inexorably towards the sky.

Each day I looked out the windows and marveled at this modern miracle as it continually coalesced into one of the tallest buildings in the world.It was as exciting and entertaining to watch in person as any concert, movie or ballgame.

So, how did this magnificent monolith go from blueprints and computer visualizations to a finely tapered tower expressly intended to endure over time, meet all the modern business and technological needs of its occupants, embed environmental comfort, ensure local building code compliance, and remain state-of-the-art safe? Quite simply, who makes sure that buildings like this and many other structures such as bridges and stadiums actually stand up straight and stay that way?

Measure Twice

“The Shard”, Image by Mike Dixson

Among the many key participants in these processes are the structural engineers. They play an integral part in making certain that everything built is comprehensively planned and assembled strictly in accordance with all relevant design specifications. Yet might this sound a bit too math-geeky to want to learn anything more about them? Well, not anymore.

First-time author and accomplished structural engineer Roma Agrawal ( @RomaTheEngineer ), has recently written a fully engaging, highly informative and deeply inspiring 360-degree look at the work of these professionals entitled Built: The Hidden Stories Behind Our Structures, (Bloomsbury Publishing Plc, 2018). She has admirably transposed the same high standards of skill and precision required to be a structural engineer into also being a writer.

In equal parts personal story, travel log, history lesson and Intro to Structural Engineering 101, Ms. Agrawal quickly captures the reader’s attention and deftly manages to maintain it throughout all 271 pages. From mud huts to coliseums to bridge to skyscrapers (among other projects, she worked on The Shard in London), we learn about who was responsible and how these creations were conceived and realized. For instance, when we admire the artistry of an archway in a building, we usually never consider all of the math, physics and fabrication2 that go into creating it. Built will give you an entirely new point of view on this and a multitude of other fundamentals of structural engineering. The text also contains a wealth of historical perspectives on how bridges, tunnels, buildings and even sewers helped civilizations to expand their populations, civil services and commerce.

The author also believes that structural engineers do not get the credit they really deserve. Nonetheless, her book is a persuasive brief for their successes in making all structures remain standing (including London Bridge and why it is not falling down), function properly, and endure extreme weather conditions and changing geological factors.  In effect, it expertly explains how they carefully process and manage a myriad of concerns about their buildings’ operations, longevity and safety.

By virtue of its own structure, the book’s 14 chapters covering building materials, design and safety principles, construction methods, noteworthy construction projects, and famous structural engineers span widely across the globe and many centuries. The lively prose is involving and evocative, so much so that these chapters could even stand on their own as individual essays. But read sequentially the mesh together to deliver a very rewarding reading experience.

Generously appointing the text are many accompanying hand-annotated photos and hand-drawn simple sketches delineating the critical principles and features being described. These simple graphics significantly support in the reader’s comprehension of some of the more sophisticated concepts as they are introduced.

Cut Once

The Colosseum, Rome, Image by Christopher Chan

There are three important themes skillfully threaded throughout the book. First, in support of the popular current movement to encourage more young women to pursue studies and employment in the fields of science, technology, engineering and math (“STEM“), Ms. Agrawal’s success in structural engineering is intended to serve as a persuasive example for others. She writes that structural engineering is still a profession mostly practiced by men and believes that more women should consider becoming a part of it. Her advancement in this field should provide a high degree of inspiration for this intended audience as well as many other readers.

Of a truly great event very well told here, Ms. Agrawal recounts the remarkable story of her personal hero, Emily Warren Roebling. When the Brooklyn Bridge was being built (1869-1883), her husband, Washington Roebling, was the chief engineer on this project. When he became ill, his wife took over and become the de facto chief engineer. She delivered critical information from her husband to his assistants on site. Moreover, she mastered all aspects of the design, physics, materials and management of the bridge and is credited with having become the essential individual in getting this supremely complicated undertaking completed. Her devotion to this endeavor was simply extraordinary. Ms. Agrawal eloquently expresses her great admiration for Emily Roebling and why she was an inspiration for her own career path.

Second, she emphasizes the importance of being well prepared for all possible contingencies in her work. There are a multitude of variables to all be taken into account when building anything and it is imperative that structural engineers be able to anticipate, assess, test and decide how to definitively deal with all of them. Such unwavering diligence and exactitude is clearly applicable to many other jobs and professions. Ms. Agrawal effectively makes her case for comprehensive planning and precision at several key junctures in her writing.

Third and equally impressive is Ms. Agrawal’s boundless enthusiasm for her work. She so enjoys and believes in what she is doing that any reader in any field can benefit from from her example.  Granted that everyone’s work situation is different and often changeable can present a range of challenges. However, when someone like the author can sustain such genuine passion for the work she is doing, reading Built may well have the added benefit of providing you with a more positive perspective on your own employment as well that of others.

As proof, a new condominium was recently being built along one of my daily walking routes. I happened to be reading Built towards the end of its construction. After finishing the book, whenever I passed this site again, I saw all of the workers and their completed building with a newly enhanced understanding and admiration of it all.  I would never have previously had this appreciation without first relying upon this book’s, well, very solid foundation.

 


In a very different and more virtual context, a method for “building” a structure in one’s own mind as form of memory enhancement device whereby someone can then fill the “rooms” with many items that can later be retrieved and thus recalled at will was first devised in the 16th century.  This story was among the many subjects of a fascinating historical account entitled The Memory Palace of Matteo Ricci, by Jonathan D. Spence (Penguin Books, 1985).


1.   See the September 1, 2015 Subway Fold post entitled A Thrilling Visit to the New One World Observatory at the Top of the World Trade Center for photos and descriptions of the amazing views from the One World Observatory very top of 1WTC.

2.  See these 10 Subway Fold posts on other recent developments in material science including, among others, such way cool stuff as Q-Carbon, self-healing concrete (also mentioned in Built at pages 106 -107), and metamaterials.

Hey, What’s the Big Idea: Modeling the the Networks of Emerging Innovations

“Connex Labyrinth”, Image by fdecomite.

When you want to invite someone new into your LinkedIn network, the social business platform provides users with a simple formatted email making it easier to do this. It reads in part “I’d like to add you to my network”. Recently, a research team published the results of their work proving that a similar network effect 1 occurs not only among people, but also in a comparable manner among new ideas. As a result of such inventive schmoozing, ideas plus other new ideas can now be seen as yielding all kinds of unexpected links to innovation 2.

This “mathematical model for the emergence of innovations” mapping out all these processes was published by the School of Mathematical Sciences at Queen Mary University of London, as reported in a fascinating article about an exciting advance on Phys.Org in a story entitled Mathematicians Develop Model for How New Ideas Emerge, posted January 24, 2018. (No writer is credited.)  This article is a summary of the full paper by the research team responsible entitled Network Dynamics of Innovation Processes that appeared in the Physical Review Letters (subscription required), published on January 26, 2018.

I highly recommend a click-through and full read of the Phys.org article, including its two accompanying visualizations. I will recap and annotate some of the key points in this piece and then pose some of own questions about how and why ideas may either swipe left or swipe right when trying to meet up with each other.

New Modeling Combining Two Established Approaches

The research team was led by Professor Vito Latora, who was also the lead author of the paper. They found that by “studying creative processes and understanding how innovations arise” and, furthermore, how [mathematical] “novelties” can lead to additional discoveries, the results of these interactions can lead to “effective interventions” that could support the “success and sustainable growth” in our society. Similar patterns have been seen in scientific and artistic fields 3.

This was accomplished by first transposing the theory of the ‘adjacent possible’ from its original field of biological systems into, second, the “language of complex networks“. The former describes the “set of all novel opportunities” that arise whenever a new discovery appears. The latter has become a reliable means to study actual systems in the real world by examining the key relationships “between the components” and, in turn, modeling the “hidden structure behind many complex social phenomena”.

In effect, network modeling has been applied here to construct the “underlying space of relations among concepts”. Indeed, some very cool and productive connections are occurring within such idea-fueled networks.

Professor Latora further believes that understanding the key elements of a successful idea are critical to later making decisions, forming strategies and supporting successes.  He thinks that such results can be part of “sustainable growth in our society”.

Potential Benefits for Multiple Fields

Another new methodology was derived during the course of his team’s research: The concept of “reinforced walks” (as a subset of “random walks“, a form of mathematical object 4), was used as the basis to model the interaction among concepts and ideas. During all of this activity “innovation corresponds to the first visit of a site on the network”, as well as every time such a “walker”, as termed in the article, transits from one concept to another concept. The more this type of path is traveled, the more it becomes reinforced and thus productive. This network dynamic, named by the team as the “edge-reinforced random walk“, is clearly diagrammed and further described in the Phys.Org article’s first graphic.

In an actual case study applying this methodology, the research team built a database of 20 years’ worth of publications from a diversity of fields including “astronomy, ecology, economics and mathematics”. This was done to examine the emergence of new concepts. Their results of applying their edge-reinforced random walk model to this compilation was that they succeeded in reproducing evidence of the growth of knowledge in contemporary science.

Professor Latora and his team are currently working to extend their model by studying network spaces where several of these “walkers” are operating simultaneously 5.

My Questions

  • Can edge-reinforced random walks be adapted and applied to additional non-scientific and non-artistic domains such as history, politics and culture? That is, can it yield meaningful results and insights in sectors of society that are less data-derived?
  • How is this methodology distinguishable from various branches of artificial intelligence where vast stores of data are used to “train” the capabilities of these systems?
  • Can edge-reinforced random walks also be deployed as a form of predictive device? For example, what if a great deal more data from a larger diversity of fields was similarly compiled and tested, would this provide a partial preview into the future in science, technology and biology?
  • Taking this a step further, could edge-reinforced random walks be enhanced to include the capacity to predict or at least sense the possibilities and/or probabilities of entirely unpredictable major events such as market crashes? 6

 


For a comparative perspective, albeit a dated one published 18 years ago, on how human social systems and their interactions will still be needed in the all-encompassing “Information Age”, I suggest a book that is still considered a significant achievement for its time entitled The Social Life of Information, by John Seely Brown and David Duguid (Harvard Business Review, 2000).


1.  Network effects among people, populations and technologies have also been explored in these 10 Subway Fold posts.

2.  See also this April 28, 2016 Subway Fold post entitled Book Review of “Inventology: How We Dream Up Things That Change the World”

3.  Another example is the study of laws and legal precedents  in this manner as described in this May 15, 2015 Subway Fold post entitled Recent Visualization Projects Involving US Law and The Supreme Court.

4.  This concept as applied in securities trading is the subject of a classic text on this subject entitled A Random Walk Down Wall Street, by Burton Malkiel (W. W. Norton & Company, Eleventh Edition, 2016)

5.  In an entirely different context, fans of The Walking Dead will also appreciate how large groups of walkers manifest their own distinctly emergent behaviors.

6.  The leading text on this subject is The Black Swan: Second Edition: The Impact of the Highly Improbable, by Nassim Nicholas Taleb (Random House, 2010).

Taking Note of Music Tech’s VC and Accelerator Market Trends in 2017

As a part of today’s modern music industry there exists a complementary and thriving support system of venture capital firms and music tech startup accelerators who are providing a multitude of innovative services.  A fascinating examination of the current state of this ecosystem appeared in an article entitled Music Pushes to Innovate Beyond Streaming, But Investors Play It Safe: Analysis, by Cherie Hu, posted on Billboard.com on 7/24/17. I highly recommend reading it in its entirety for its insights, assessments and accompanying graphics.

I will summarize this feature here, add some links and annotations and, well, venture a few of my own questions. Also, I believe this is a logical follow to three previous Subway Fold posts about the music biz including:

Tempo

In mid-2017, the music tech market is generating signals as to its direction and viability. For example, Jawbone, the once thriving manufacturer of wearable audio devices is currently being liquidated; Soundcloud  the audio distribution platform let go of 40 percent of its staff recently only days before the firm’s tenth anniversary; and Pandora has experienced high turnover among its executives while seeking a sale.

Nonetheless, the leaders in music streaming are maintaining “the music industry’s growth”. Music tech showcases and music accelerators including SXSW Music Startup Spotlight, the Midemlab Accelerator, and Techstars Music are likewise driving market transformation.   During 2017 thus far, 54 music startups from more than 25 cities across the globe have taken part in these three entities. They have presented a range of submissions including “live music activations and automated messaging to analytics tools for labels and artists”.

While companies such as Live Nation, Balderton Capital and Evolution Media have previously invested in music startups, most investors at this mid-year point have never previously funded a company in this space. This is despite the fact that investments in this market sector have rarely returned the 30% that VCs generally seek. As well, a number of established music industry stars are participating as first-time or veteran investors this year.

Of the almost $900 million funding in music tech for the first half of this year, 75% was allocated for streaming services – – 82% of which went only to the leading four companies. However, there remains a “stark disconnect” involving the types of situations where music accelerators principally “lend their mentorship” in “hardware, virtual reality1, chatbots, label tools”, and the issues that VC concentrate the funding such as “streaming, social media, brands”.  Moreover, this situation has the potential of “stifling innovation” across the industry.

To date, music accelerators have “successfully given a platform and resources” to some sectors of the industry that VCs don’t often consider. For example, automated messaging and AI-generated music2 are both categories that music accelerators avoided until recently, now equal 15% of membership. This expansion into new categories reflects a much deeper “tech investment and hiring trends”. Leading music companies are now optimistic about virtual digital assistants (VDA) including chatbots and voice-activated systems such as Amazon Alexa3. As well, Spotify recently hired away a leading AI expert from Sony.

Rhythm

However, this “egalitarian focus” on significant problems has failed to “translate into the wider investing landscape” insofar as the streaming services have attracted 75% of music tech funding. The data further shows that licensing/rights/catalog management, social music media, and music, brands and advertising finished, in that order, in second at 11.1%, third at 7.1% and fourth at 3.9%.

These percentages closely match those for 2016. Currently, many VCs in this sector view streaming “as the safest model available”. It is also one upon which today’s music industry depends for its survival.

Turning to the number of rounds of music tech funding rather than the dollar amounts raised, by segments within the industry, a “slightly more egalitarian landscape” emerges:

  • Music hardware, AI-generated music, and VR and Immersive media each at 5.0%
  • Live music; music brands and advertising; streaming; and social music media each at 15.0%
  • Licensing, rights, and catalog management at 25% (for such companies as Kobalt Music, Stem and Dubset)

Categories that did relatively well in both their number of rounds of funding and accelerator membership were “catalog management, social music platforms, and live music”.

Those music tech startups that are more “futuristic” like hardware and VR are seen favorably by “accelerators and conference audiences”, but less so among VCs.  Likewise, while corporate giants including Live Nation, Universal Music Group, Citi and Microsoft have announced movement into music VR in the past six months, VC funding for this tech remained “relatively soft”.

Even more pronounced is the situation where musical artists and label services such as Instrumental (a influencer discovery platform) and chart monitors like Soundcharts have not raised any rounds of funding. This is so “despite unmatched attention from accelerators. This might be due to these services not being large enough to draw too “many traditional investors”.

An even more persistent problem here is that not many VCs “are run by people with experience in the music industry” and are familiar with its particular concerns. Once exception is Plus Eight Equity Partners, who are trying to address “this ideological and motivational gap”.

Then there are startups such as 8tracks and Chew who are “experimenting with crowdfunding” in this arena but who were not figured into this analysis.

In conclusion, the tension between a “gap in industry knowledge” and the VCs’ preference for “safety and convenience”, is blurring the line leading from accelerator to investment for many of these imaginative startups.

My Questions

  • Of those music startups who have successfully raised funding, what factors distinguished their winning pitches and presentations that others can learn from and apply?
  • Do VCs and accelerators really need the insights and advice of music industry professionals or are the numbers, projects and ROIs only what really matters in deciding whether or not to provide support?
  • Would the application of Moneyball principles be useful to VCs and accelerators in their decision-making processes?

 


1.  See the category Virtual and Augmented Reality for other Subway Fold posts on a range of applications of these technologies.

2.  For a report on a recent developments, see A New AI Can Write Music as Well as a Human Composer, by Bartu Kaleagasi, posted on Futurism.com on 3/9/17.

3.  Other examples of VDAs include Apple’s Siri, Google’s Assistant and Microsoft’s Cortana.

I Can See for Miles: Using Augmented Reality to Analyze Business Data Sets

matrix-1013612__340, Image from Pixabay

While one of The Who’s first hit singles, I Can See for Miles, was most certainly not about data visualization, it still might – – on a bit of a stretch – – find a fitting a new context in describing one of the latest dazzling new technologies in the opening stanza’s declaration “there’s magic in my eye”.  In determining Who’s who and what’s what about all this, let’s have a look at report on a new tool enabling data scientists to indeed “see for miles and miles” in an exciting new manner.

This innovative approach was recently the subject of a fascinating article by an augmented reality (AR) designer named Benjamin Resnick about his team’s work at IBM on a project called Immersive Insights, entitled Visualizing High Dimensional Data In Augmented Reality, posted on July 3, 2017 on Medium.com. (Also embedded is a very cool video of a demo of this system.) They are applying AR’s rapidly advancing technology1 to display, interpret and leverage insights gained from business data. I highly recommend reading this in its entirety. I will summarize and annotate it here and then pose a few real-world questions of my own.

Immersive Insights into Where the Data-Points Point

As Resnick foresees such a system in several years, a user will start his or her workday by donning their AR glasses and viewing a “sea of gently glowing, colored orbs”, each of which visually displays their business’s big data sets2. The user will be able to “reach out select that data” which, in turn, will generate additional details on a nearby monitor. Thus, the user can efficiently track their data in an “aesthetically pleasing” and practical display.

The project team’s key objective is to provide a means to visualize and sum up the key “relationships in the data”. In the short-term, the team is aiming Immersive Insights towards data scientists who are facile coders, enabling them to visualize, using AR’s capabilities upon time series, geographical and networked data. For their long-term goals, they are planning to expand the range of Immersive Insight’s applicability to the work of business analysts.

For example, Instacart, a same-day food delivery service, maintains an open source data set on food purchases (accessible here). Every consumer represents a data-point wherein they can be expressed as a “list of purchased products” from among 50,000 possible items.

How can this sizable pool of data be better understood and the deeper relationships within it be extracted and understood? Traditionally, data scientists create a “matrix of 2D scatter plots” in their efforts to intuit connections in the information’s attributes. However, for those sets with many attributes, this methodology does not scale well.

Consequently, Resnick’s team has been using their own new approach to:

  • Lower complex data to just three dimensions in order to sum up key relationships
  • Visualize the data by applying their Immersive Insights application, and
  • Iteratively label and color-code the data” in conjunction with an “evolving understanding” of its inner workings

Their results have enable them to “validate hypotheses more quickly” and establish a sense about the relationships within the data sets. As well, their system was built to permit users to employ a number of versatile data analysis programming languages.

The types of data sets being used here are likewise deployed in training machine learning systems3. As a result, the potential exists for these three technologies to become complementary and mutually supportive in identifying and understanding relationships within the data as well as deriving any “black box predictive models”.

Analyzing the Instacart Data Set: Food for Thought

Passing over the more technical details provided on the creation of team’s demo in the video (linked above), and next turning to the results of the visualizations, their findings included:

  • A great deal of the variance in Instacart’s customers’ “purchasing patterns” was between those who bought “premium items” and those who chose less expensive “versions of similar items”. In turn, this difference has “meaningful implications” in the company’s “marketing, promotion and recommendation strategies”.
  • Among all food categories, produce was clearly the leader. Nearly all customers buy it.
  • When the users were categorized by the “most common department” they patronized, they were “not linearly separable”. This is, in terms of purchasing patterns, this “categorization” missed most of the variance in the system’s three main components (described above).

Resnick concludes that the three cornerstone technologies of Immersive Insights – – big data, augmented reality and machine learning – – are individually and in complementary combinations “disruptive” and, as such, will affect the “future of business and society”.

Questions

  • Can this system be used on a real-time basis? Can it be configured to handle changing data sets in volatile business markets where there are significant changes within short time periods that may affect time-sensitive decisions?
  • Would web metrics be a worthwhile application, perhaps as an add-on module to a service such as Google Analytics?
  • Is Immersive Insights limited only to business data or can it be adapted to less commercial or non-profit ventures to gain insights into processes that might affect high-level decision-making?
  • Is this system extensible enough so that it will likely end up finding unintended and productive uses that its designers and engineers never could have anticipated? For example, might it be helpful to juries in cases involving technically or financially complex matters such as intellectual property or antitrust?

 


1.  See the Subway Fold category Virtual and Augmented Reality for other posts on emerging AR and VR applications.

2.  See the Subway Fold category of Big Data and Analytics for other posts covering a range of applications in this field.

3.  See the Subway Fold category of Smart Systems for other posts on developments in artificial intelligence, machine learning and expert systems.

4.  For a highly informative and insightful examination of this phenomenon where data scientists on occasion are not exactly sure about how AI and machine learning systems produce their results, I suggest a click-through and reading of The Dark Secret at the Heart of AI,  by Will Knight, which was published in the May/June 2017 issue of MIT Technology Review.