PropTech

Too many investors are looking for the next Instagram still, but innovation today is now about reimagining entire industries. One such industry now being upended is real estate. I'd put proptech right behind cleantech in how crucial it is for the future of humanity. After the climate crisis, the housing crisis is the number two crisis globally.

But far too many proptech startups are merely tweaking old processes. The big crisis is that there is this huge unmet demand. So the needed move is to meet that demand. The numbers are just huge.

There is old talk of atoms and bits. Bits move at the speed of light. Atoms? Not so much. And so pure software plays. But true proptech is about turning atoms into bits. You do that by adding tremendous intelligence. It is like Walmart stores now have Amazon virtual walls and isles.

I hope proptech provides a blueprint for a whole slew of other industries. There is an urgent need for bold entrepreneurs to think at truly large scales. Industry after industry stand to be reimagined.

You could reimagine education. You could reimagine health. You could reimagine the movie industry. Instead of listing all industries you can reimagine, I should try to list those that you can't. That list does not exist.

During the Internet era (the past quarter-century), the ceiling looked like a trillion dollars. You noticed when a company hit that mark in valuation. Over the coming quarter-century, trillion-dollar companies will be the new unicorns. If a billion dollar company is a unicorn, what is a trillion-dollar company? A tyrannosaurus, you say?

PropTech: What is it and how to address the new wave of real estate startups? Between automatization and uberisation, PropTech is both threatening and promising. ........ Zillow in the US, have been doing it for a long time ......

Proptech is one small part of a wider digital transformation in the property industry. It considers both the technological and mentality change of the real estate industry, and its consumers to our attitudes, movements and transactions involving both buildings and cities

......... Today, several verticals emerge within PropTech: the real estate market per se (PropTech), smart cities and buildings, the sharing economy, the home building industry (ConTech) and finance (FinTech). Both ConTech and FinTech have very close ties with the real estate industry. ....... with many sectors now being “uberised”, real estate has become a prized target, especially for investors.......

the first PropTech startup valued at over $1 billion was founded in 2016.

........ In new construction on the other hand, startups mostly operate as middlemen or as suppliers of hi-tech tools for developers. For the time being, that is........ Remember how the music industry turned a deaf ear to its challengers? Overly self-confident, it was unable to address the changes affecting music consumption. Today Spotify, Deezer or YouTube control music distribution across the globe. Same story with Kodak and digital photography........

a company might be able to use big data to locate building land, apply blockchain technology to streamline the purchasing process, print 3D models of homes and buildings, and use virtual reality to offer guided visits to sell these properties on the Internet.

Seeking an Edge, Developers and Investors Turn to ‘Proptech’

Investors Are Pouring Billions Into Proptech. Here's Who's Getting It Here are the biggest players in the real estate industry's billion-dollar transformation.

Property Technology
Where top VCs are investing in real estate and proptech (Part 1 of 2)
2020 will be the beginning of the tech industry’s radical revisioning of the physical world
What is PropTech and how is it revolutionising real estate?
7 Questions On Proptech That Will Make You Sound Like A Pro

Global Proptech Investment Hits Record High in First Half of 2019
Future of Proptech: The Next Billion-dollar Opportunities A new wave of Proptech opportunities is emerging to disrupt real estate and shake up the core underlying fundamentals on which the industry operates
Proptech: Game Changer in Real Estate Real estate sector may be in the doldrums but proptech offers a ray of sunshine
What is “PropTech” and why companies are developing it
What is proptech? It sounds like the latest tech trend to hit headlines and attract investment, but proptech is about more than digital transformation. Technology can help put purpose, culture shift and customer experience at the heart of the property sector
PropTech Startups Are Merging To Entice Big Real Estate Investors
PropTech: A Massive Opportunity We’re Seeing

PropTech https://t.co/FsugG01v5Z @nicholaskatz @Caleb_Parker #proptech @Camber_Creek@thegothamgal @BrendanFWallace @ZacharyAarons @StartupPro @MetaPropNYC @WillNeale @billmckibben@tom_wils @Dom7Wilson @Mesh_Kumar @peterevans10@hunterwalk @bgurley @jdh @vcstarterkit @gdcaplan

— Paramendra Kumar Bhagat (@paramendra) December 30, 2019

Smart Cities

Source

Baidu Beats

Earlier this month, a Chinese tech giant quietly dethroned Microsoft and Google in an ongoing competition in AI. The company was Baidu, China’s closest equivalent to Google, and the competition was the General Language Understanding Evaluation, otherwise known as GLUE.

Fraud Alert: No Harm Done

My Real Estate Tech Startup Has A Loan Investment
Jassim Mohammed Al Seddiqi: Renaissance Man In The Gulf
Getting To Know Mustafa Kheriba

This is more sophisticated than the emails from "Nigerian princes," but still very much fraud.

7 Signs of a Personal Loan Scam Reputable lenders do not require you to pay a penny before you receive your loan. If you come across a personal loan lender that demands a processing, insurance or origination fee before they can approve you, walk away fast. The lender is likely a scammer hoping to make a quick buck off of you........ While legitimate lenders may charge application, appraisal and credit report fees, these are typically deducted from the amount you borrow.

Loans to Avoid There was a 10% decrease in complaints about loan scams and fraud in 2017, but the cost to American consumers still went up, reaching nearly $1 trillion....... consumers reported losing $905 million to scams in 2017, $63 million more than in 2016. The FTC credited education, awareness and enforcement for the positive trend in fewer complaints, but even with all that, consumers are still being taken for millions of dollars in fraudulent loan scams....... Financial scammers have never been more prevalent and they often prey on individuals who previously have been denied a loan. ...... About one-in-three adults is a victim of financial scammers ....... seniors are easy targets .......... nearly 33% of 1,260 respondents indicated they had been exposed to financial scams during the past five years, while one-third said that outsiders had used (or attempted to use) their accounts without permission. ........ 40% of Americans in their 20s who reported fraud in 2017 said they lost money, with a median loss of $400. That was a much higher rate than senior victims of financial fraud where only 18% of the 70-and-older group reported losing money. ....... The world has changed. Now there’s online banking and brokerage accounts, payday lenders, borrowing from your 401(k), Exchange-Traded Funds (ETFs), variable rate and adjustable mortgages … and seemingly, just as many complex financial scams designed to dupe consumers...... Upfront Fees — The lender might disguise these as application fees or document fees or some other name, but they all mean: “Send me some money before I perform any service.” Think about this: You are being asked to send money in order to be loaned money. That’s a scam. Legitimate lenders must disclose all their fees. Typically, they are rolled into the cost of the loan, not paid for in advance. ....... Wire Transfers — If the lender wants you to wire money for any fees, it’s a big cause for concern. Never wire money to an individual. Always ask for the lender’s physical address. Then contact the Attorney General or Financial Regulations office in that state to verify it’s a legitimate business. ........ Personal Information — Never give out your social security number, date of birth, bank account number or other important personal information unless you are convinced you’re dealing with a responsible lending institution. Personal information can be used for identity theft or stealing from your bank account. ....... Reviews — Online reviews have become influential when it comes to restaurants, museums and movies. They can also help you pick a reputable lender. You can simply Google the company or person’s name ......... Be wary if you’re offered a free period (like a year with no payments) before the loan must be repaid.

How fraudsters are gaming online lenders Online lenders’ advantage in speed has exposed them to a growing problem: a type of fraud called loan stacking........ People are taking advantage of the quick loan approval times online lenders offer to game the system by applying for multiple online loans in a short time before credit files update to reflect the increased debt load. By doing so, they are able to get more money than they would typically qualify for in any one loan.

How to avoid a personal loan scam If you’re faced with an “urgent offer,” you’ve likely found a scam. Legitimate lenders offer steady rates that depend on your credit. Pressure tactics are designed to drive you to act quickly, before you’re able to spot a scam in progress. ....... Loans demanding “processing,” “insurance” or even “origination” fees before approval are a scam. A lender asking for payment before it’s processed your application is a scammer looking for a quick buck. ...... Legit lenders generally never charge anything until you receive your loan — though some might deduct an origination fee from the funds before it shows up in your bank account.

The Rise Of Mortgage Fraud: How To Spot Common Schemes

Fraudster poses as Jason Statham to steal victim's money
A fraudster posing as Hollywood actor Jason Statham cheated a British woman out of hundreds of thousands using an online scam ......... police warn such crimes are at "epidemic" levels, with Greater Manchester Police (GMP) receiving reports of about 1,000 victims a month. ....... Detectives fear the true figure may be up to 10 times higher as many fraud victims never come forward.........

"It's the volume crime of the 21st Century." ....... A recent estimate put the total lost to fraud each year in the UK at about £110bn.

...... One victim from the North West of England told BBC Radio Manchester she had lost a fortune after being targeted by a fraudster who has "just got no feelings at all"...... The woman, who asked not to be named, said she was targeted at a vulnerable time following the deaths of both her mother and fiancé.......... "I'm quite a strong person but obviously certain things get to you and you let your guard down," she said......... The woman said she was first contacted online by someone posing as Mr Statham while she was on a Facebook page dedicated to the Fast and Furious star. ...... "I thought 'Oh, that's nice of him, talking to his fans'......... There were an estimated 3.6 million fraud offences in England and Wales in 2018...... it is "much more likely for an adult…to experience fraud than a violent offence". ...... 6.6% of adults, just over 3 million people, had experienced some form of fraud in the year ending December 2018. .....

GMP was unable to prosecute anyone over the fraud, with the person responsible believed to be operating from overseas.

'Britain's oldest scam victim': 103-year-old loses £60,000 in 10-year catalogue fraud Elderly widower ends up with 'house full of incredibly overpriced products' after ending up on a 'suckers' list'

This name and this picture are obviously pure fiction: Yahya Al-Wazna. Dubai Police, please take note.

Deleted original tweet. Times thinks it may have been a scam. Anyway, will have more security in future

— Paul Krugman (@paulkrugman) January 9, 2020