Takeaways from SXSW 2017 Day 1 March 13 2017 › wp-content › uploads › ... · 3) The...
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1 March 13, 2017 Deborah Weinswig, Managing Director, Fung Global Retail & Technology [email protected] US: 917.655.6790 HK: 852.6119.1779 CN: 86.186.1420.3016 Copyright © 2017 The Fung Group. All rights reserved. Takeaways from SXSW 2017—Day 1 1) The Fung Global Retail & Technology team is attending the SXSW Conference in Austin, Texas, this week. 2) SXSW runs March 10–19 and comprises conference tracks in the areas of Interactive, Film and Music. 3) The Interactive track covers content in brands and marketing, design, health, intelligent future, style, the tech industry, virtual and augmented reality (VR/AR), and many more. 4) On day one of the event, we attended presentations and panel discussions focusing on fashion and apparel, media, technology, and health and beauty. Summaries of these events follow. 5) The Fung Global Retail & Technology Team will continue to report on key points and information during the rest of the conference. Takeaways from Day 1 Fashion and Apparel Protein-Based Textiles Might Inspire the Next Wave of Fashion Innovation Dan Widmaier, the CEO and Cofounder of Bolt Threads, is looking to disrupt the synthetics-dominant textile industry by making protein-based fabrics that are derived from spider silk. Bolt Threads has developed the world’s first scalable spider-silk fabrics. According to Widmaier, fabrics made using spider silk are naturally durable and stretchable. Furthermore, the fabrics are highly malleable and various technologies can be applied to them to create performancewear. Bolt Threads’ first product is a spider- silk tie selling at $314. The company has set up a spinning facility in California. DAY 1
Transcript of Takeaways from SXSW 2017 Day 1 March 13 2017 › wp-content › uploads › ... · 3) The...
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March13,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Takeaways from SXSW 2017—Day 1
1) TheFungGlobalRetail&TechnologyteamisattendingtheSXSWConferencein
Austin,Texas,thisweek.
2) SXSWrunsMarch10–19andcomprisesconferencetracksintheareasofInteractive,FilmandMusic.
3) TheInteractivetrackcoverscontentinbrandsandmarketing,design,health,intelligentfuture,style,thetechindustry,virtualandaugmentedreality(VR/AR),andmanymore.
4) Ondayoneoftheevent,weattendedpresentationsandpaneldiscussionsfocusingonfashionandapparel,media,technology,andhealthandbeauty.Summariesoftheseeventsfollow.
5) TheFungGlobalRetail&TechnologyTeamwillcontinuetoreportonkeypointsandinformationduringtherestoftheconference.
TakeawaysfromDay1FashionandApparelProtein-BasedTextilesMightInspiretheNextWaveofFashionInnovationDanWidmaier,theCEOandCofounderofBoltThreads,islookingtodisruptthesynthetics-dominanttextileindustrybymakingprotein-basedfabricsthatarederivedfromspidersilk.BoltThreadshasdevelopedtheworld’sfirstscalablespider-silkfabrics.AccordingtoWidmaier,fabricsmadeusingspidersilkarenaturallydurableandstretchable.Furthermore,thefabricsarehighlymalleableandvarioustechnologiescanbeappliedtothemtocreateperformancewear.BoltThreads’firstproductisaspider-silktiesellingat$314.ThecompanyhassetupaspinningfacilityinCalifornia.
DAY 1
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Source:FungGlobalRetail&Technology
Widmaierseesnature-derivedtextilesasthefutureofthefashionindustry,astheirusecoulddrasticallyreducewasteandpollution.Whilethetechnologybehindspider-silktextilesisstillaworkinprogress,heisoptimisticaboutthesefabrics’scalabilityandadjustabilityformassadoption.
Thiscouldbeamajortechnologicaldisruptioninthetextileindustry.Innovationintextileshasstagnatedandtherehavenotbeenanyrealbreakthroughsinnewtextilessincethe1970s.Abouttwo-thirdsoftheworld’stextilestodayaremadefromsyntheticmaterialsderivedfrompetroleum.Themajorityofthesesyntheticsbiodegradeonlyafteraverylongperiodoftime,whichposesasignificantchallengetotheenvironment.
Fashion’sNewFrontier:InclusiveDesignforThosewithDisabilitiesThereisamovementinthefashionindustrytoprovidefunctionallypracticalyetfashionableclothingforindividualswhoaredisabled.Theseconsumersarelargelyunderserved:about51millionAmericans,orone-fifthoftheUSpopulation,hassomekindofdisability,buttheselectionofclothingthatspecificallyservestheirneedsislimited.
Tomeettheseconsumers’clothingneeds,CanadiandesignerIzzyCamillericreatedIZCollectionin2009asafashionlinewithitemsdesignedforindividualswithdisabilities.Thelineincludesabomberjacketthatfeatureszippersalongtheinsideofthesleevesforeasyaccessibilityandotheritemsthataredesignedtonotbunchorpinchwhenthewearerissittinginawheelchair.
DataAloneCannotDecodetheFashionIndustryAsessionfocusedontheuseofdatainthefashionindustryincludedpanelistsfromStitchFix,aretailerwhichsendscustomersacuratedboxofclothingitems,andPoshmark,whichenablesmemberstosellitemsfromtheirownclosets.Poshmarkusesdatatohelpmanagementunderstandthebusiness,tohelpshoppersfindthegoodstheyseekandtohelpPoshmarksuppliersmakegoodbusinessdecisions.Thecompanycollectsdatafromtwosources:explicitdataconsistoftheinformationcustomers
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
provideaboutthemselves,whileimplicitdataarederivedfromcustomers’clicksandpuchases.Customerdataareextremelyvaluable,butofferdiminishingreturns,asadditionaldataareoftenlessvaluablethaninitialdata.Poshmarkhashadsomesuccesscreating“Frankenstyles,”whicharebasedonthecompany’sanalysisofpriorsalesdataonfeaturessuchassleevetype,neckstyleandpattern.Poshmarkhasusedthatinformationtodevelopcompletelynewclothingstyles.Still,onepanelistemphasizedthatluckplaysahugeroleinwhetherornotaparticulardesignsucceeds,duetothedifficultyinpredictingfashiontrends.
MediaVideosAretheFutureofBrandBuildingonSocialMedia;ThereIsStillPlentyofWhiteSpaceinLivestreaming
Source:FungGlobalRetail&Technology
SaraDietschy,aNewYork–basedcreativevloggerwithmorethan160,000subscribersonYouTube,sharedherinsightsontheroleofvideoinbrandmarketingondifferentsocialmediaplatforms.Shestressedthatvideoshavebecomeaprimarywayforpeopletoconsumecontent.Asaresult,socialmediaplatformssuchasYouTube,Facebook,SnapchatandInstagramhavestrengthenedtheirengagementusingvideos.Forexample,FacebookhasintroducedalivestreamingfeatureandInstagramhascreateda“story”feature;bothallowuserstosharemomentsintheformofvideos.Dietschysummedupthetrendbysaying,“Videosarenotthefuture.Theyarenow.”Inanefforttomaximizeengagement,Dietschythinksitisimportanttocustomizecontentforeachdifferentsocialmediachannel,asopposedtoblastingthesamepieceofmarketingmaterialtoeverysocialmediaoutlet.
Livestreaminghasemergedasanewformofvideothatholdssignificantpotential.Dietschysaidthatthereisplentyofwhitespaceinlivestreaming:manylivestreamingappsarebeingcreated,butnosingleapphasyetcapturedadominantmarketshare,shesaid.Therearealsochallengesinpopularizinglivestreamingasawayofbranding,asviewersoftenwanttoviewcontentontheirowntermsratherthanonsomeoneelse’sterms.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
TechnologyAFrameworkforActionableGamificationGamificationbringselementsfromvideogamesintonongamecontexts,withtheaimofactivatinghumanmotivationsandfeelings.Yu-kaiChou,whohasbeenpioneeringgamificationsince2003andhasauthoredseveralbooksonthesubject,spokeatonesessionongamification.ChoualsocreatedtheOctalysisframework,amodelthatdistillstheeightdrivesofgamification:meaning,accomplishment,empowerment,ownership,socialinfluence,scarcity,unpredictabilityandavoidance.Chouexplainedthatthesearchformeaning,forexample,causesuserstosharetheirlocationandtrafficdatatotheWazeappinordertocontributetothesocialgood(Wazeisafree,community-basedmappingandnavigationapp).Drivescanalsobeclassifiedas“whitehat”or“blackhat,”hesaid,meaningtheycanbedrivenbyourpositiveornegativeinstincts.Inaddition,drivescanresonatewiththeright(artistic)orleft(analytical)sidesofthebrain.
AreBiometricstheNewFaceofSurveillance?Facial-recognitiontechnologyhasmadehugeadvancesrecently,andonestartupcompanyfeaturedonapanelattheconference,Kairos,hascreatedsoftwarethatcanmakeapositiveidentificationwithinonesecond,identifyingrace,genderandethnicity,aswellasrecognizethesubject’semotions.Thetechnologyisnowsoadvancedthatitcanalsoidentifytheraceofmixed-racepeople,andcanbeusedforgeneaologicalresearch.Currentusersoffacial-recognitiontechnologyincludethemovieindustry,whichusesittomeasureaudiences’emotionalreponsesoverthecourseofamovie;entertainmentoperators,whichuseittoidentifythesubjectsofphotosforpurchase;andadvertisingkiosks,whichuseittovaryadmessagesbasedontheviewer’sdemographicprofile.Theseapplicationsraiseamultitudeofprivacyquestions.TheUSFederalBureauofInvestigationcurrentlyusesfacialrecognitionpurelytoverifyidentity—i.e.,toestabishwhetherasubjectisorisnotaparticularperson.
CopyingIsGoodInonetalkfocusedontheissueofcopyinginthetechsector,thespeakerprovidedahistoryofcopyinginChina,notingthatChineseschoolchildrencopywrittenChinesecharactersinordertolearnthem.“Copyingislearning,”thespeakersaid.Heusedtheterm“Copying1.0”todescribetheblatantcopyingofWesterncompaniesandtrademarks,andcitedthehalf-dozencopycatsofStarbuckscafesasanexample.“Copying2.0”isamash-up,hesaid,suchastheWeChatapp,whichcombinesthefunctionalityofWhatsApp,Facebook,InstagramandTinder.TheplatformhasbecomeasortofSwissArmyknife—enablingalargenumberofonlineactivities.Thenextiterationofcopyingisthetransformation,whenChinesecompaniesaddnewfunctionalitytoproductsalreadyavailable,suchasXiaomiturningtheSegwayscooter(whichitpurchased)intoasmaller,muchcheaperproduct.Finally,thereis“MethodStealing,”hesaid,inwhichChinesecompanieshaveadoptedleading-edgetechnologyfasterthan
Source:FungGlobalRetail&Technology
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
industryleaderssuchasApple,therebyleapfroggingthoseleaders.Thespeakerseescopyingasatributetotheoriginalinventor,whoshouldbecreditedwithhisorherinvention.
MachineLearning:ExploreVersusExploit
Source:FungGlobalRetail&Technology
Inatalkfocusedonmachinelearning,aspeakerfrommusic-streamingservicePandoradescribedthecompany’slargeuserbaseandlistenership.Pandoraselectssongsinthreeways:bycontent(basedonmusicologists’ratingsonharmony,rhythmandinstrumentation),collectiveintelligence(basedoncategorizingcontent)andpersonalizedfiltering(basedonmorethan75algorithms).Thekeyquestionishowtobalanceprovidinglistenerswithsomethingfamiliar(exploitingtheirlisteninghistory)versustakingtherisktoofferthemsomethingunknown(exploringnewmusic),whichtheymaydislike.PandoraoffersThumbprintRadio,whichstreamssongsbasedonthelistener’sthumbs-upandthumbs-downratings.However,thereisatendencytoofferanexcessiveamounttried-and-truesongsandnotadequatelyadapttoauser’schangingmusictaste.Pandoraaimstoavoidwhatitcalls“Freakomendations,”songsuggestionsthatarewayoutsideofthelistener’stasterange.
SXSWCreateBecomesaPlatformforEmergingMakerstoShowcasetheirInnovationsSXSWCreate,thehardwarehackingandmakerarmoftheconference,showcasedthelatestinnovationsfromthemakersspace.AnumberofproductsondisplayfocusedonmakingSTEMeducationmorefunforkids.StemBoxisamonthlysubscriptionboxofSTEMexperimentsforchildrenages9–16.Samplesubscriptionboxesincludebacteriacultureskits,toolboxesformakingrocketsandmobile-basedmicroscopes.Ozobotisasmartrobotcompanythatcreatedapalm-sizedrobotthathelpsyoungpeoplelearntocode.TheRobotGroup,anAustin-basedroboticseducationorganizationthathashostedworkshops,meetupsandeventstopromoteSTEMeducation,alsohadaboothatSXSWCreate.
HealthandBeautyAgingReimagined:BetterHealthProspectsandaLongerLifeSpanHumansarejustbeginningtounderstandthefundamentalmechanismsofagingandtodevelopwaystosignificantlyprolongthehumanlifespanandimprovequalityoflifeinlateryears.Somebiomedicalscientistsarereimagniningagingasaflexibleandevenreversibleprocess.NathanielDavid,cofounderofUnityBiotechnology,suggestedthat
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
agingistriggeredbyaccumulationofsenescentcells(cellsthathaveceasedtoreplicate),andthatsenescencecouldbereversed.MattKaeberlein,aprofessorofpathologyattheUniversityofWashington,suggestedthatcompoundsthatcouldreversethebiologicalsignsofagingexist,butthatthereareregulatorychallengestotreatingagingasanillness.
Therearesignificantsocialandeconomicimplicationstoenablingpeopletoliveprolongedhealthylivesviapreventativemeasures.Healthcaresystemswilllikelyfocusmoreonpreventativecare,whichcouldhelplessentheeconomicimpactoftreatingcertainillnesses.Aspeoplebegintolivelonger,healthierlives,societiesarelikelytobegintoredefinetraditionaltimelinesforlifeeventssuchascollege,marriageandretirement.
AbouttheConferenceTheSXSW(SouthBySouthwest)conferencewasfoundedin1987inAustinasavenuefortheinteractive,filmandmusicindustriestoconverge.Theannualeventfeaturessessions,showcases,screenings,exhibitionsandavarietyofnetworkingopportunities.Totalattendanceofregistrantsandartistsisexpectedtohit72,000thisyear,andtheeventinjectedmorethan$325millionintoAustin’seconomy.Theconferenceprovesthatthemostunexpecteddiscoverieshappenwhendiversetopicsandpeoplecometogether.
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DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
DeborahWeinswig,CPAManagingDirectorFungGlobalRetail&TechnologyNewYork:917.655.6790HongKong:852.6119.1779China:[email protected],CFASeniorAnalyst
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