All posts by James Cannon

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]businessdistrict.com

Introducing…the First Self-Driving Stroller

News

Have you ever wished you had an extra pair of hands?

As the automotive and courier service industries have widely adopted self-driving technology, the trend continues to spread to other business areas. Recently, a Canadian-based startup called GlüxKind released the first smart stroller.

The self-driving stroller, dubbed “Ella,” has the potential to change the childcaring experience. Parents or caretakers whose hands are normally tied up when pushing a stroller are now relieved of this burden. Ella drives itself when the child is not inside.

According to Anne Hunger, CPO and co-founder of GlüxKind, the innovative stroller is meant to serve as “an extra pair of eyes and an extra set of hands.” She explains that while the child is inside, one hand is required on the handlebar for safety purposes. But, when a crying baby needs to be held, an independent toddler wants to walk, or the two simply want to explore the world together, the parent has use of two hands.

In order to successfully navigate itself, Ella is equipped with sensors and cameras which take into account the surroundings and sidewalks. A dual-motor system allows for uphill treks and there is an automatic brake assist for downhill navigation.

In this YouTube video, consumers can see how the stroller works in action. A parent is pushing a stroller downhill and suddenly lets go to fetch a toy that his toddler dropped. The stroller stops on its own. Another scene depicts a child who wants to be carried, and the stroller then steering itself.

Ella was one of the Innovation Awards Honoree at the 2023 Consumer Electronics Show in Las Vegas. It is available for pre-order in North America, with deliveries planned to begin in April. The stroller is set to retail at about $5,000.

Digital Fashion is the New Trend

Brands, Consumerism, Technology, , ,

Lablaco is an Italian company that helps fashion brands digitize their products. The idea behind the movement is that, like many industries, it’s only a matter of time before the fashion world goes completely digital. The “phygital” fashion market will see consumers purchasing both physical items and their digital “twins” which avatars will wear in the metaverse.

In an effort to establish a more sustainable and profitable approach to fashion, Lorenzo Albrighi and Eliana Kuo co-founded Lablaco in 2016 and serve as co-CEOs. They are believers in circular fashion, where clothing is designed and produced with methods focused on reducing waste. The pair hopes to use blockchain technology to promote this effort.

In the model developed by Lablaco, when a physical item is purchased, its digital equivalent remains paired to it. If the physical item is resold, its digital twin moves to the owner’s digital wallet, so that authenticity is apparent and the designer can follow where its creation goes.

While the fashion industry presently generates 92 million tons of waste each year, digitizing fashion will significantly reduce these numbers. If a designer currently needs to create an item in 10 different colors to test it out, the same item can be released into the metaverse in 10 different hues. Sales specs could be studied to determine which version to produce physically.

In the metaverse, opportunities are endless. While this is a new spin for fashion, it is clear that many industries in the world are headed in this direction. And, as usual, fashion will continue to keep up with the times.

C-Suite Exits Reach Highs in 2022

Companies, Economy, , ,

As 2022 comes to a close, businesses are assessing their ups and downs. It is no secret that Fortune 500 companies have had a very difficult year. The result, though, is somewhat unexpected.

Many top executives are leaving their longtime positions. CEOs have made exits from huge corporations, such as Starbucks, FedEx, Disney, Kohl’s, AMC, Salesforce, and more. The bigger problem is what comes next. It’s become clear that many of these entities have never put a succession plan in place. And, with global markets on the verge of entering a recession, the timing for this unpreparedness is less than ideal.

There were reportedly 774 CEO exits between January and June 2022. This is the highest first half total in 20 years, since the Challenger, Gray, & Christmas outplacement firm started keeping track. By the third quarter of 2022, resignations slowed down, but there was another spike of high-profile exits just this month.

Without a succession plan, companies suddenly find themselves racing to find a replacement CEO. Conducting this type of search under such pressured terms usually doesn’t bode well. Investors are hit with a mixture of surprise and fear, and stocks prices can take a toll. When Salesforce’s co-CEO Bret Taylor resigned last week, share sales shot down.

So, what can be done? A popular solution that companies have implemented is reinstating familiar faces. Both Disney and Starbucks brought back their former CEOs, offering reassurance to shareholders.

The long-term remedy, however, is to plan ahead. Public company board members made their voices heard in a recent survey saying that CEO succession plans need to be improved. Investors are also becoming blatantly aware of the impacts, with a reported $1 trillion per year loss in the S&P 1,500 directly related to C-suite exits.

While companies are busy devising goals for the coming year, it will be interesting to see how many truly internalize this pattern and strategize accordingly.

Inflight Connectivity Continues to Soar

Communications, Technology, , ,

The fact that much of the Western world spends too much time glaring at screens, surfing the net, and scrolling on social media apps is a topic that is often discussed. One of the few times that people used to be forced to unplug was while on board a flight. In recent years, however, connecting to an airline’s WiFi has become much more common, a service that used to be accessed primarily by busy businesspeople.

How does this advanced technology actually work?

There are two main types of inflight internet connectivity, one which uses antennas and the other that relies on satellites.

The first category is widely known as air-to-ground (ATG). Using this method, an antenna on the aircraft catches signals from cellphone towers on land. A major drawback is that the quality of the connection depends on the location of the aircraft at a given moment – for example, when flying over an ocean or a desert, service will drop as there is greater distance between the plane’s antennas and the cellphone towers. For this reason, many airlines are making the switch to satellite-based connections. Using satellites, the signal remains stronger no matter the location or movement of the aircraft.

While satellites resolve some of the major disadvantages of ATG, that system requires constant upkeep and advancements of the network. It is much simpler, faster, and cheaper to install new cellular towers than to launch a new satellite into space.

While the mere fact that such services exist is remarkable, there are a lot of improvements that need to happen in terms of expanding network service and speed. As with all technologies, it is likely just a matter of time till we see more impressive developments.

American Airlines to Buy Supersonic Jets

Companies, Technology, Transportation Industry, ,

In a bold move, American Airlines has put down a deposit to purchase 20 supersonic jets from Boom Supersonic.

Boom is in the process of developing an aircraft called Overture, expected to be officially completed and released in 2025. Overture can travel at almost twice the speed of sound, and is designed to fit 65 to 80 passengers. While the company recently released a sophisticated version of the jet, Overture is still in the early development stages and has not yet run a test flight.

Overture, however, is not the first of its kind. The Concorde was a supersonic jet with routes across the Atlantic Ocean, primarily between London and New York City. In 2003, the ultra-speedy aircraft was forced to halt its services. With seat prices reaching a steep $10,000 per person, and deafening engines preventing the jet from flying over land, use of the Concorde was unsustainable. Although many have asserted that high-speed jets won’t make a comeback for these reasons, airlines seem confident enough in their return to be investing in them. Prior to the current American Airlines purchase, United Airlines had publicized its plans last year to buy up to 15 supersonic jets from Boom.

Despite previous economic failures of the aircrafts, the US government has shown support for bringing supersonic jets back and the FAA is devising new sets of code regarding noise levels over land. While Boom hopes its jets can begin running by 2029, the aircrafts and routes will need to be approved.

Although it is still unclear whether or not Overture will be approved for flying, the possibility is exciting. Many would love the opportunity to reach London from Miami in less than five hours, or to travel from Los Angeles to Honolulu in just three hours.

Only time will tell what the likelihood is for supersonic jets to fill the airspace…let alone the price tag!