WebSummit Keynote

🚀Remote work

⚡You need to create a value of visiting an office, not requirements
⚡Remote management is maintaining personal relationship, personal connection. CEOs visit their subordinates personally to check up how they feel
⚡You have more accessibility of CEO as he/she speaks on Zoom to everyone

🚀How do you manage productivity working remotely:

⚡Coaching, teaching, mentoring teams
⚡Trust is key. If you don’t trust your people, then something is wrong with the system
⚡Empowering your employees
⚡Organizational trust is critical
⚡If there is office dependency, then there is something wrong with workflows
⚡If you want to hire the world’s talents, you have to work remote
⚡Tools: PWC rolled out Teams in 2 months throughout the whole organization
Slack – communication with developers
Notion – documentation of every product and processes
⚡Values question of management team whether you write questions in chats after hours
We have to respect after-hours of work
⚡As an employer you have social responsibility to create the right working conditions for your employees, also remotely
⚡PWC asked all their employees, how they want to work
⚡We have to embrace people
⚡It is important to give remote workers the same experience
⚡You can only differentiate on culture, when there are no physical advantages of your office

Neuroelectrics

🚀Studying the brain
Everyone will get digital copy of the brain
There will be possibility to work with mental health

🚀Microsoft. The world’s climate crisis
The path from pledges to progress
An energy change
Big carbon problem
⚡We need carbon accounting and then we need to move from carbon accounting to efficient measurement
Committing to transparency
⚡We can’t measure anything at scale until we automate it
⚡We need a new ecosystem for carbon measurement build on data
⚡We need new carbon technologies
Microsoft established 1b$ Innovation fund
⚡We need to build new industries
⚡We need to build new foundation: Carbon math, carbon accounting, carbon measurement

Talk Robot section

🚀Social robots
⚡Will speak your language and will be easy to use for non-tech people
⚡Social robots are used for:
Unbiased recruitment
Scanning of unidentified diseases
Travel help
Museums guide
Assistant
⚡Robot is more engaging emotionally than a voice assistant

🚀Skydio drones
⚡Autonomy is missing link of why drones are not widely used
⚡Skydio produces autonomous drones, which you don’t need to tune
⚡Drones can fly where nobody can
⚡Predictive path planning 3 seconds before you
⚡3D scanning inspection – smart drones scan your assets and create digital twin model

Amazon

🚀 Innovation takes place as part of everyday work

TAP Portugal

Business travel will be back in 3-4 years
🚀 We need to build collective immune system. Vaccination is too slow
Airlines are taking the safety of the passengers very serious

SAP

🚀 Modern world should have
0 emissions
0 waste
0 inequality
Enabling faster supply chain management with agile transformation

🚀 Creating a culture of innovation (DHL, IDEO, CI&T)
⚡Innovation is design thinking
⚡Inclusion is what drives innovation.
Inclusive culture. Including anybody makes Innovation efficient. Frontline people create a lot of innovative ideas
⚡Design thinking workshops create Innovation
⚡The more different people are in one team, the more there are opportunities to find the right solution, than listening to all the same people
⚡Give more freedom to local teams to drive innovations
⚡Innovation agenda should be the main agenda every day for every company

🚀AI is answering a call of sustainability (Shell, Databricks, Kongsberg)
⚡Energy transition is possible with AI
⚡Data glues everything together
⚡It is becoming more accessible and cheaper to have technology
⚡Accessibility makes it getting from data to decisions faster
⚡There should be created an open source ecosystem where all countries could come to and develop a common solution to deal with climate change

When to Outsource and Mistakes to Avoid

Outsourcing can help cut costs and boost revenue, but it is not something to take on lightly. Outsourcing can completely reshape how your business operates, and if it’s not done right, it produces a level of uncertainty that can create more risks and potential losses. Knowing when to outsource work from your business is equally important as knowing how. Follow this guide to avoid common mistakes and find the right talent for your needs.

Your Growth Rate Exceeds Your Manpower

When a business takes off, a small team may not be able to keep up with all the demand. Customer service can suffer, turnaround times may dwindle and other disruptions can hinder your performance.

For most business owners, the initial phase of their company is a waiting game. They’re often busy trying to figure out what to do until business picks up. Then, the question shifts to, “What do we do first?” 

When you find yourself in this position, it may be time to outsource some services. The most important thing to consider in this case is how long you plan to outsource and what internal changes you’ll make to encompass your growth. You should also be sure that you know and understand tips for managing outsourced remote teams because they are still employees even if they’re outsourced. Scaling a business is a strategic process, and outsourcing will either be a transitional support for permanent fixture. Choose wisely at this stage as the workers you hire will become an integral part of what your company becomes in the future.

You Lack Specialized Skills

You may be in an industry that you do not have the specialized skills for. Your own knowledge may have gotten you to this point, but you’ve identified a gap in your own skill set and customer demands that require an expert. In this case, outsourcing can get you the services you need.

Whether it’s a software developer or social media manager, specializations that require professional management and attention to detail shouldn’t be handed over to amateurs. Avoid hiring beginners with no portfolio or demonstrable experience. In an effort to save money, some businesses opt for the most affordable option rather than the most experienced candidate.

While you do have to be mindful of your budget when hiring, you should never hire for price alone. You have to consider the impact their skills and abilities to meet your evolving needs will have on your customers.

You Don’t Have Enough Managerial Experience

If a company expands to the point it requires specialized management, then outsourcing can help. One area this is common is fleet management. A person can start a business but not have the time, know-how or ability to continually track a fleet of delivery vehicles. Outsourcing management can be an easy way to lower your stress, but it has to be done with a scrutinous eye. Make sure that anyone you hire knows the industry and meets compliance regulations. If you decide to outsource your fleet management, you may want to read a guide on DOT compliance management software, which details regulations that must be met.

Additional management outsourcing roles include human resources and finance. You may not be able to oversee these divisions on your own, but there are plenty of qualified professionals who can handle them flawlessly.

WeWork IPO

* WeWork released its much-anticipated S-1 filing to go public earlier this week. 
* The filing lays the groundwork for what is widely expected to be one of the largest IPOs of the year, but also details the myriad risks WeWork is likely to face once it goes public.
* Accelerating losses, expensive lease agreements and CEO Adam Neumann’s complex relationship at the company are among the risks it faces. 

KEY POINTS

WeWork’s long-rumored IPO was announced this week by way of one of the most talked-about S-1s in recent history. The We Company, the parent of WeWork, released an S-1 loaded both with new information about the company’s financials and with some made-for-Twitter language. (“We dedicate this to the power of We — greater than any one of us, but inside each of us” is in the document’s opening.)

Among the more relevant financial revelations:

  • WeWork is growing fast. Between 2017 and 2018, revenue doubled to an astounding $1.7 billion.
  • But its base profit is thin. Of that $1.7 billion made in 2018, WeWork spent $1.5 billion just on operating its locations.
  • And it’s hemorrhaging money. In the first 6 months of 2019 alone, WeWork lost nearly $690 million.

Whatever the financial implications of The We Company’s S-1, the company reports a rapidly growing worldwide customer base of 537,000 members. WeWork might have some questionable economics and dramatic language, but co-working, as a trend, clearly isn’t some flash in the pan.

And while WeWork may be a giant in the co-working space, it is far from the only player. While there are other co-working franchises competing directly with WeWork, such as IWG (a flexible workspace provider founded in 1989 as Regus), there are also many other niches within the broader co-working market:

  • Community-specific co-working spaces. The Wing, which WeWork is an investor in, is a network of co-working and community spaces designed for women.
  • Co-living companies. Companies like Quarters, Roam, Outsite, and The We Company’s WeLive combine the concept of co-working spaces with shared living spaces
  • Co-working apps. Deskpass and LiquidSpace give co-workers access to a variety of spaces, while Yardi Kube and Cobot make it easy for business owners to manage a co-working space.

And with more and more companies hiring for remote work, flexible working spaces are only going to become more necessary, making co-working spaces both a vital service and an exciting market. WeWork’s future might be a topic of debate, but co-working is very much here to stay. 

UpDate: The We Company, better known as WeWork, disclosed that it is unwinding a much-criticized deal that awarded CEO Adam Neumann $5.9 million for use of “we” trademarks. The company also said it intends to appoint Frances Frei, a Harvard Business School professor and consultant, to its currently all-male board.