The world of matchmaking won’t have to rely on luck, as much as math, thanks to one very accomplished teenager.
Yunseo Choi, a senior at Phillips Exeter Academy in New Hampshire, came up with a matching theory that can be applied to people looking for a life partner.
Instead of matching a finite number of people, the 18-year-old figured out how to pair an infinite number of potential couples.
The idea being that when your options are infinite, your matched date will likely be better suited for you.
“Essentially I studied these stable matchings, but in the context of the infinite matching market,” She explained in an interview with NPR’s Morning Edition. “Where instead of matching a finite set of men to another finite set of women, we’re matching an infinite number of men to an infinite number of women.”
Choi’s matchmaking tool that uses algorithms came in first place Wednesday night in a prestigious STEM (science, technology, engineering and math) competition that’s run by the biotech company Regeneron and the Society for Science. Read More >>
Every startup has an incredible story to share with the world. Some stories are centered around a “Eureka!” moment. This is when a startup founder figures out a practical, yet genius, method to quickly and efficiently solve a problem facing many people. Others may be stories of friends or family members that team up to start a business rooted in a specific mission and meet the needs of its target audience
Storytelling gives us the chance to share who is behind the business and its purpose, or mission, with its audience. It’s important to share the story of your startup, from humble beginnings to where it is now in the present day, for several reasons.
Stories show us that we are not alone.
One of the most common challenges entrepreneurs face is loneliness. Going it alone often lends itself to feeling as though you are alone on your entrepreneurial path. Has anyone else had similar struggles or are we simply experiencing them for the first time? Read More >>
Amex Ventures’ Investment Will Support Boom’s Development of Sustainable Supersonic Airliner
Boom Supersonic, the aerospace company building the world’s fastest and most sustainable commercial airliner, today announced a strategic investment from American Express Ventures. The funds will support the continued development of Boom’s flagship product, the supersonic airliner Overture.
Overture is Boom’s 65- to 88-seat supersonic airliner, capable of running on 100% sustainable aviation fuel. The supersonic aircraft is slated to roll out in 2025 and begin commercial flights by 2029. Built on the core principles of speed, safety and sustainability, Overture will fly twice as fast as conventional jets over more than 500 transoceanic routes worldwide. Boom currently has $6 billion in pre-orders of Overture aircraft.
“We’re proud that Amex Ventures shares our commitment to making the world more accessible by bringing sustainable supersonic travel to passengers everywhere,” said Blake Scholl, Boom founder and CEO. “2021 is a pivotal year for Boom. As we prepare to fly our supersonic demonstrator, XB-1, we are also accelerating Overture development.” Read More >>
The adage that “our world runs on data” means that decisions are being based on vast amounts of statistics. Data-derived insights drive what time trains stop running, when Starbucks introduces holiday cups, and the temperature of the building you might be sitting in right now.
Even though most corporate roles now work with data, it’s shockingly easy to forget that people generate most of it. When a user clicks a link, gets blood taken at the lab, or sets up a smartwatch, that person generates data. As people move, buy, sell, use, work, and live, their actions nudge numbers up or down and drive organizational decisions, big and small.
If it’s your role to communicate data insights and persuade people to change their behavior, you’ll have more influence and promote better decision-making if you emphasize the people behind the numbers. In a story, we root for the hero as he or she maneuvers through roadblocks. To use data to steer your organization in the right direction, you need to tap into the human tale your data can tell. Read More >>
Archer Aviation, the electric aircraft startup that recently announced a deal to go public via a merger with a blank-check company, plans to launch a network of its urban air taxis in Los Angeles by 2024.
The announcement comes two months after the formation of the Urban Air Mobility Partnership, a one-year initiative between Los Angeles Mayor Eric Garcetti’s office, the Los Angeles Department of Transportation and Urban Movement Labs to develop a plan for how to integrate urban aircraft into existing transportation networks and land use policies. Urban Movement Labs, launched in November 2019, is a public-private partnership involving local government and companies to develop, test and deploy transportation technologies. Urban Movement Labs and the city of Los Angeles are working on the design and access of “vertiports,” where people can go to fly on an “urban air mobility” aircraft. Urban air mobility, or UAM, is industry-speak for a highly automated aircraft that can operate and transport passengers or cargo at lower altitudes within urban and suburban areas. Read More >>
As Blue Origin and SpaceX democratize access to space, small companies will get to explore an array of promising new ideas that lie beyond planet Earth.
In early February, Jeff Bezos, the founder of Amazon and one of the planet’s wealthiest entrepreneurs, dropped the bombshell announcement that he would be stepping down as CEO to free up more time for his other passions. Though Bezos listed a few targets for his creativity and energy—The Washington Post and philanthropy through the Bezos Earth Fund and Bezos Day One Fund—one of the highest-potential areas is his renewed commitment and focus on his suborbital spaceflight project, Blue Origin.
Before space became a frontier for innovation and development for privately held companies, opportunities were limited to nation states and the private defense contractors who supported them. In recent years, however, billionaires such as Bezos, Elon Musk, and Richard Branson have lowered the barrier to entry. Since the launch of its first rocket, Falcon 1, in September of 2008, Musk’s commercial space transportation company SpaceX has gradually but significantly reduced the cost and complexity of innovation beyond the Earth’s atmosphere. With Bezos’s announcement, many in the space sector are excited by the prospect of those barriers being lowered even further, creating a new wave of innovation in its wake. Read More>>
For startups that are typically reluctant to work with the government, there are plenty of reasons to seek federal grants and contracts.
In many respects, startups embody the American way. If you’re not building something bold with funding in short supply and a little uncertainty over its addressable market, you’re probably doing something wrong.
World-class talent and an unmatched support infrastructure have long been the bedrock of U.S. innovation. Even with limited IP, founders are able to attract investors and scale. But the economic fallout from the COVID-19 pandemic has caused capital investment and traditional startup revenue streams to dry up.
The outlook is particularly stark for enterprise-focused tech startups. A PwC report of U.S. CFOs last year found that half expected to cancel or defer less-critical projects in 2020. Startups that are short on runway are already feeling those measures. Read More>>
Entrepreneurs trying to build big companies turn to equity investors to raise capital. If a company is an established ongoing concern, investors can look at cash flows, growth rates, customer retention, capital assets, leverage, and other hard metrics to determine whether to invest and how to value the company. An early-stage company has few if any hard metrics, however. Startups are often just emerging from the idea stage into market trials, and the minimum viable products and services they offer are being tested by beta customers.
This presents a challenge for the entrepreneur. What will convince angel and early-stage venture investors that what she is building is not only a feasible company but one that has the potential to generate a large return on investment, and maybe even become one of those rare unicorn companies that will make its investors rich? Read More >>
When the pandemic hit, most businesses recalibrated quickly. In many industries, this meant a lot of retrenching: cutting back on services, or for retailers, focusing on basic staples. So while there was plenty of innovation in terms of how companies served customers, there was a lull in the development of new products.
This trend is reaching its limit, according to Paul Earle. Earle, an adjunct lecturer of innovation and entrepreneurship at the Kellogg School with deep experience in new brand and business development, believes the year ahead holds a lot of promise for companies looking to innovate—thanks to a confluence of new needs, new habits, and a sense of relief and openness.
“The Spanish flu pandemic of 1918 and ’19 was followed by the roaring twenties,” he says. “I think we’re going to see, again, a massive appetite for new experiences, for things that are fun, that are social, that bring us together.”
What exactly might this look like? Earle points to three predictions for the year ahead. Read More >>
From the freemium business model to an aggregation business model, the 21st century digital economy has shown that serving customers well may not necessarily provide sustainability for a company unless the firms actively find ways to capture value in the process. It sounds obvious, but many media and e-commerce companies have gone bankrupt, despite improving customer experiences through digital channels, simply because they neglected to capture value.
For instance, many startups emerged and provided cheaper or completely free means of making national and international calls via the web, but later collapsed when they struggled to capture value. A direct 30-minute traditional phone call from Lagos to New York may cost $10, but using an app, the same call may cost an equivalent of $1, where that dollar is the cost of mobile internet services spent on the call. If the app is free (and most are), it has destroyed a value of $9 for the traditional phone operator, even though the app maker has not captured any for itself. Read More >>