Technology is changing real estate. While there are many real estate technologies such as Zillow, what you may not realize is there are lots of existing technologies in use in other industries that you can use to be a more sophisticated investor.
This was presented by DJ Scruggs to the Creative Real Estate Lunch Club of Denver on November 30, 2017/
27. We always overestimate
the change that will occur
in the next two years and
underestimate the change
that will occur in the next
ten. Don't let yourself be
lulled into inaction.
Bill Gates
20 years in tech startups before focusing on real estate in 2016.
First “Internet is going to be huge” moment
Used to be on Compuserve
Uploaded some music compositions
A wew years later I did an Altavista search on my name, found those same compositions on a server in Poland
First company in 1996 in Chicago.
-- Original business plan: “do something with Java”
-- Distributed Bits
-- Investor presentations about email overload
-- Sold that to a company in Boulder
-- Drank the Kool-Aid until my multi-million dollar stake turned into enough for a down payment on a Boulder townhouse, which ended up being my most profitable investment
--- Most importantly [next slide]
Zillow is an excellent tool for favoriting houses
FullContact (a Denver company) makes capturing business cards easily
Zillow is an excellent tool for favoriting houses
FullContact (a Denver company) makes capturing business cards easily
Integrations open up a whole new world of potential
Integrations open up a whole new world of potential
Bitcoin gets all the attention, but there are hundreds of cryptocurrencies.
James Altucher explains Theism ==> Humanism ==> Data-ism
Think about every industry in human history:
WAR:
Theism: A country planning on going to war would make sacrifices to their gods. Would pray. And would surrender to the fact that whosever god was stronger would win.
Humanism: More people, more bullets, more human intelligence, equals the winner in a war.
Data-ism: This is the war being fought every day right now. We saw tiny snapshot of it with the election but it's only a snapshot in a ten year long movie.
The war is on every single day. It's fought in every country. It's fought with data and hacking and piracy.
MEDICINE:
Theism: Shamans and priests would pray for health or do rituals to enhance health.
Humanism: The doctor knocks your knee, puts hand on head, take two aspiring and call me in the morning
Data-ism: Bloodwork, DNA work, robotic surgeries, fMRIs, Catscans. Statistical matching with massive database of similar scans to do diagnosis. All medicine is starting to be outsourced to data.
CURRENCY:
Theism: "In God We Trust"
Humanism: Let's throw a President on there. Let's get the signature of the Secretary of Treasury up there. "Don't worry, we're good for it." While we print a few trillion without telling anyone.
Data-ism: The natural evolution: Cryptocurrency.
Fun fact: the germ of the idea for Bitcoin is something called Hashcash, which was developed to fight spam.
Blockchain now is where the internet was in 1995
Credit
– Equifax hack shows fundamental flaws in centralized platform
-- Distributed credit report will allow you to order a credit report that includes character references and real-time asset values
Securitization
-- Crowdfunding is version 1.0
-- Blockchain will allow people to trade interest in assets just like a stock, and without the costs of centralized exchanges