WEST COAST WORKTECH 2017 OCTOBER 24, 2017 · Amazon vs. Sears Netflix vs. Blockbuster Uber vs....

W E S T C O A S T W O R K T E C H 2 0 1 7

O C TO B E R 2 4 , 2 0 1 7

C H R I S K E L L Y

P R E S I D E N T & C O - F O U N D E R

@ T H O U G H T S O N B I Z

- B I L L C L I N T O N

“Ignore the Headlines,Follow the Trend Lines.”

Nobody has told you, but your customer has changed.

@ C O N V E N E

Four Trends Driving Customer Centricity:

@ C O N V E N E

I. Economic Transformation

II. Technology Eating the World

III. Cultural Evolution

IV. Consumer Expectations Rising

I. Economic TransformationIn knowledge based economy, talent is what keeps the CEO up at night.

@ C O N V E N E

II. Technology “Eats the World”In the “internet of everything,” everything is measured and optimized, efficient and

flexible, visible and transparent.

@ C O N V E N E

III. Cultural EvolutionBlurring the lines between work and life.

@ C O N V E N E

IV. Consumer Expectations Rising

AI has reduced every market segment down to an audience of one.

@ C O N V E N E

K E Y TA K E AWAY

Customers Decide Who Wins and Loses.Failing to be Customer-Centric is the Biggest Risk

in Business.

@ C O N V E N E

K E Y TA K E AWAY


in Business.

Amazon vs. Sears

@ C O N V E N E

K E Y TA K E AWAY


in Business.

Amazon vs. Sears

Netflix vs. Blockbuster

@ C O N V E N E

K E Y TA K E AWAY


in Business.

Amazon vs. Sears


Uber vs. Yellow Cabs

@ C O N V E N E

K E Y TA K E AWAY


in Business.

Amazon vs. Sears



Apple vs. Tower Records

@ C O N V E N E

K E Y TA K E AWAY


in Business.

Amazon vs. Sears



Apple vs. Tower Records

WeWork vs. Landlord?

@ C O N V E N E

@ C O N V E N E

In a Customer Centric WorldThings that Don’t Make Sense Get

Disrupted.

Paradigm Shift:Real Estate Is Entering The Era Of Tenant

Centricity

@ C O N V E N E

The Orientation of Power & Influence Changes

From Capital Markets and Select Execs to Talent

@ C O N V E N E

What Talent Wants,

Is What Tenants Need,

Is What Landlords Must Build.

@ C O N V E N E

@ C O N V E N E

Talent Priorities are ChangingFrom Total Compensation to Overall Quality of Life

@ C O N V E N E

Tenant Priorities are ChangingFrom Cost Mitigation to Amenitization & Agility

The Purpose of Workplace Changes From Tactical to Strategic

@ C O N V E N E

“When the winds of change blow,

some build walls and

others build windmills.”— C H I N E S E P R OV E R B

@ C O N V E N E

@ C O N V E N E

The Landlord’s Role Changes From Space Maker to Place Maker

From Selling Square Feet to Selling Experience

@ C O N V E N E

Experience Becomes the Landlord’s Greatest Opportunity

From Commodity to a Brand

P U B L I C

The Future Office Building Operates Like

a Full Service Hotel

S E M I - P R I VAT E

P U B L I C




P U B L I C



F L E X / S H O R T D U R AT I O N

P R I VAT E / L O N G D U R AT I O N


P U B L I C



F L E X / S H O R T D U R AT I O N

The Future of Flexible Space

“By 2030, 30% of

commercial office

space will be

consumed as

flexible space.”

J L L 300+ s.f. per

person

80% occupancy

20% vacant

<5% flexible

85% occupancy

15% vacant

200+ s.f. per person

30% flexible

90% occupancy

10% vacant

<150 s.f. per person

PAST PRESENT FUTURE

The Future of Flexible Space

“By 2030, 30% of

commercial office

space will be

consumed as

flexible space.”

J L L 300+ s.f. per

person

40% UTILIZATION

80% occupancy

20% vacant

<5% flexible

85% occupancy

15% vacant

200+ s.f. per person

50% UTILIZATION

30% flexible

90% occupancy

10% vacant

<150 s.f. per person

80% UTILIZATION

PAST PRESENT FUTURE

The “Starwoodification” of Real Estate

P R I C E

E X P E R I E N C E

RE

V P

ER

SQ

.FT

Experiential = 5x rent

Traditional = 1x rent

Serviced = 3x rent

S E R V I C E L E V E L + F L E X I B I L I T Y

Premium for Service and FlexibilityC A S E S T U D Y

LAN

DLO

RD

TH

IRD

PA

RT

YIN

TE

GR

AT

ED

P

AR

TN

ER

@ C O N V E N E

Leasing and Financing ChangeFrom Rent per Square Foot to Revenue per Foot (REVPAF)

Who We Are

C O N V E N E A T 1 0 1 P A R K A V E

C O M PA N Y O V E R V I E W

Convene is a “workplace-as-a-service” platform that partners with

landlords to create the next generation office building – one that

works and feels more like a full-service, lifestyle hotel.

Our Integrated Platform

R E T A I L O F F E R I N G S

H O S P I T A L I T YS E R V I C E S

E L E V A T E

A one-stop solution for landlords looking to differentiate their assets through

flexible space, services, & technology.

C O N V E N E E N A B L E D+ + =

Our Secret Sauce: Culture

Say people care about

each other at Convene

94%

Say their bosses are great

96%

“CON VENE IS THE #11 BEST WOR KPLACE IN N EW YOR K C ITY ”

~ For tune Magaz ine

Are proud to tell others

they work at Convene

92%

@ C O N V E N E

Transforming the Tenant ExperienceC A S E S T U D Y

F U T U R E P R O J E C T P R E V I E W

101 Greenwich Street“LOWER MAN HAT TAN GETS F IRST FULL SERVICE OFF ICE BUILDING”

~ Commercia l Property Execut ive

Thank You!

C O N V E N E / T R A N S F O R M I N G T H E W O R K P L A C E E X P E R I E N C E

C K E L LY @ C O N V E N E . C O M

@ T H O U G H T S O N B I Z

We are:

• Hiring

• Partnering

• Hosting

• Operating

WEST COAST WORKTECH 2017 OCTOBER 24, 2017 · Amazon vs. Sears Netflix vs. Blockbuster Uber vs....

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