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Sunday PropTech Review; 10th June 2018

POSTED BY   james
June 10, 2018

I’m writing this and sending it from Bogota, Columbia having attended the first PropTech LATAM summit in Chile. You can read my experience here

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To get this review going, help MetaProp with their PropTech Confidence Survey – comes out every quarter and vital for us to understand the sector:

So not long now until MIPIM PropTech in Paris. Very much looking forward to getting out there for what promises to be a cracker of a conference. Some key points:

  • More than 70 speakers from all of mainland Europe
  • One of the few places to meet both Property and PropTech in one place
  • The first stage of the MIPIM Start up competition – gaining traction every year with the final in Cannes
  • If you are part of the Twitterati get used to #MIPIMPropTechEU correspondence. Lots going on already.

So whilst you book your tickets to MIPIM PropTech, lets get on with the review.

Dan Doctoroff talks Urbanisation and Smart Cities

Loved this podcast. Very informal and interesting at the same time given the Freakonimics backbone. Dan Doctoroff is C.E.O. of a Google-funded startup (Sidewalk Labs) that is building, from scratch, the city of the future.

Industry defining PropTech deal

Listen as the Vornado Realty Trusts EVP & CIO, Robert Entin, tells host Philip Russo his views on everything from AI to AR/VR to blockchain and more on The MetaPropCast.

Building our Future

What is the future of transport? How can digital collaboration tools help deliver major infrastructure projects in a more timely and less costly manner?

Most Shared: JLL launches huge fund – everyone’s at it!

So……JLL join the ranks of companies building huge war chests to invest in all things PropTech. This time to the tune of £100million.

“Over the last six months we saw how much innovation was happening in the proptech space and we thought it made more sense to launch a venture fund,” says Shah of JLL Spark

Spotahome raise $40million

For the second time in a week, a start up raises a Seed B round. This time it is Spanish firm Spotahome that I have been following for a while now. Three months after their CEO steps aside, they raise a shed load of money. Connected perhaps?

Either way, shows the attraction in the lettings market at the minute but also encouraging for a Spanish company to be raising so considerably and that this is US money flying into Europe.

MIT launch VirtualHome; an AI simulation…..

……that is a bit like watching The Sims. The serious bit behind the simulation is that it could pave the way of how we will train robots in the future to carry out the more menial ‘tasks’ in our homes.

Note the term tasks. We have discussed previously about how the future of jobs is more about automating tasks rather than entire jobs. Here we have tasks again being discussed in terms of the home. We are just becoming programmable as AI’s and humans. A task is becoming the common denominator in my eyes?

Audit your Algorithm like this PropTech start up did…..

With the plethora of start ups in AI and using data to construct exciting PropTech businesses it is worth testing your model. How many can actually say that they have done so? I expect almost zero, at least not to the levels of Rentlogic.

Whether I agree with a business strategy or not – there are so many out there in this space at the minute – what I do appreciate are founders who will test their underlying tech by independent 3rd parties. It shows me a/ they are willing to be wrong and fix it and b/ they are mature enough to know that trust and transparency come above tech in some places.

“It’s intended to prompt programmers to consider important questions as they work. “Who cares if this algo works? Who cares if it fails?” she asks, “Who gets hurt if it’s wrong?” When these questions reveals ethically problematic consequences like, say, discriminating against a class of people, she flags the box yellow or red”

PropTech Figure of the Week:

Surveying appears to be an industry in which 88% of the core tasks are ripe for automation to a greater or lesser degree

A review of why Colliers appointed a new Head of innovation and Tech

Influencer Quote of the Week:

“There’s also an argument to be made that PropTech’s biggest flaw might be the lack of open dialogue, as well as mutual understanding between traditional property and PropTech”

Oli Farago discusses PropTech

PropTech’s biggest flaw

A thought provoking and hugely engaged piece on LinkedIn from Coyote Software’s Oli Farago. Well worth a read.

My favourite quote perhaps comes from one of the comments:

“Look at the marginal gains rather than boil the ocean, in that way a number of focussed solutions will add real value perhaps in a small area but added together?”

Colliers appoint a new Head of Innovation and Technology

Seems a great move but what I don’t get is that this comes one month after Colliers decided to work with the company this guy set up. Was this the plan all the way along? Partner with his (Jake Edens by the way) company and then appoint him as a Senior VP of Tech and Innovation.

Either way, it is a sign of intent from Colliers as they start to evolve for the future.

PropTech Events Coming Up:

That’s all for now, folks…

Have a great Sunday. I’m just looking forward to seeing Mrs D and the boys. However, just hoping I can sleep a bit on the leg back to Heathrow.

James

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