Artificial intelligence—AI—is getting those investor checks. In Q2 alone, AI startups raked in $7.4B in funding. And if you look at the exits, you can see why VCs are bullish. It’s a sector that’s delivering some very valuable exits.
Since 2013, seven AI companies have had billion-dollar exists—either through IPO or M&A—four of which have taken place in the last two years. Here’s a chart from CB Insights with all seven.
(WTF?!) This iPhone Upgrade Could Be Worth $100B Next Year
OK, so we love iPhones. Sure we do. After all, Apple, this year, became the first trillion-dollar company.
But $100B?! Gosh DAMN!
So what’s the deal?
So, according to JP Morgan, Apple’s planning on bringing four new iPhone models to market in 2020 with 5G.
Meanwhile Apple has waited. Until now. Apparently.
Got it. So when’s this going down?
The new iPhones are expected to hit in the second half of 2020, come in a number of sizes, including one measuring 5.4 inches, another at 6.7 inches and two at 6.1 inches.
The report also says the largest iPhone will likely have sensor shift technology (whatever that means), allowing for better quality videos and photos when capturing motion.
…OK, so about the $100B?
Yeah, it’s coming. Be patient. So according to tech pub DigiTimes, Apple’s told suppliers it expects to sell 100M iPhones next year.
Just for context, if the average price is a cool $1K, that rough math comes out to $100B of revenue for Apple next year.
Yes, right now, Apple sells several models at lower price points.
That said, the competition has been charging a premium for 5G devices. So expecting something likely from Apple isn’t too far of a fetch. #BusinessNotCharity
Selling that many devices would be a 25% increase over the expectation Apple will sell 80M iPhone 11s.
What’s up with 5G? Do people care?
Well, it would appear that way.
Right now, “only” 15M 5G devices have been sold to date. But those numbers can be misleading. 5G is just now becoming available in many parts of the US.
By the time Apple’s expected to go to market, demand will likely be huge.
What say you, #WealthGANG?! You coppin’ the next 5G iPhone?
5 Steps To Create A Freedom-Based Team That Love What They Do
(Editor’s Note: The following article is a guest post by superstar entrepreneur and tech investor Jonathan Schultz.)
Your team should love coming to work every day and they should love what they are doing. The worst thing a leader can do for their team is to restrict the ways in which they work and not allow them to do the work they think matters most. Here are five strategies for creating a freedom-based team that loves what they do.
According to a 2017 Gallup Employee Engagement Survey, 33% of U.S. professionals are engaged, 51% are disengaged and 16% are actively engaged. Freedom-based companies, by contrast, can typically boast that more than 70 percent of their professionals are “engaged.” These numbers bring into question how many of your team members are actually engaged in the work they are doing and how can you help boost this number?
FIRST STEP: LEAVE YOUR EGO AT THE DOOR
Your team members will never believe that you trust their insight or intelligence if you are always the person who has the best solution. You need to allow your team to shine with the freedom to succeed or fail on their own. Your team is a reflection of your leadership. Remember, there is not only one style of leadership that works.
SECOND STEP: SHARE THE COMPANY’S VISION
A shared vision is fundamental when it comes to creating a freedom-based team. This will provide a common goal and establish a criterion for teams to make educated decisions. Qualified team members do not need to be told how to do their jobs. When you set them free to explore their talents and call the shots, they will have the potential to perform even better.
THIRD STEP: CREATE CLARITY AND ACCOUNTABILITY
There’s nothing more effective than being clear on what we’re all trying to accomplish while being accountable for the short-term success of each and every project. Like stated above, the combination of this with vision unlocks tremendous progress.
FOURTH STEP: DISCUSS ROADBLOCKS WITH YOUR TEAM
It’s very important to create time during the week to do 10-15 minute huddle sessions, whether through online collaboration tools if you’re not in the same location —or even better, in person. So everyone FEELS the progress together. You feed off the energy of the whole —and I feel like that’s missing a lot of times. Everyone is trying to shine themselves, but when you feed off the energy of the WHOLE, it’s more powerful.
FIFTH STEP: TAKE ON THE ROLE OF GUARDIAN OF YOUR FREE TEAM
When your team takes on more responsibility and make more decisions on their own, there will be less for you to handle, which means you can abstain from using your formal authority and serve as a guardian instead. Your new role will be the tie that keeps everything strewn together and keeps the company operating successfully and efficiently.
Your team will love coming to work if they feel they are valued, trusted and have the freedom to work in the way they do best. These five steps will help you accomplish establishing a freedom-based team.
Jonathan Schultz is an entrepreneur, real estate tech investor and influencer. He’s the co-founder of Onyx Equities, a leading private equity real estate firm, and has been voted one of the most powerful people in real estate. Follow Jon’s blog here.
Mark Cuban Invested $640k In This Company That Started As A Prank
In what turned out to be a ruse, a startup disguised their business as a prank to raise over $640k from investor Mark Cuban on Shark Tank.
Minneapolis-based entrepreneurs, Ryan Walther and Arik Nordby, founded Prank-O, a business that was built around amusing their friends with bizarre and fake products.
In their pitch to the Sharks, they introduced a string of products in gift boxes — ranging from coffee-maker shower heads to snack hats — only to reveal later that the novel products were fake.
The duo looked to snag an investment of $640k for an 8% stake in the business, before revealing their declining sales — from $10M five years ago to an estimated $2.8M this year.
The dip in sales came after the team tried to branch into creating the prank products, stringing together debt worth nearly $1M.
Despite the numbers, Mark Cuban bit. “I’ll make you an offer, but you’re going to have to listen,” Cuban said.
“You’ve got a great product, you’ve got great comedy minds, but your track record speaks for itself, and I don’t mean that in any disrespect, but all entrepreneurs go through this,” he said, offering $640k for 25%, more than three times what the company initially pitched.