History of E-Cigarettes and Vaping Devices


 

History of E-Cigarettes and Vaping Devices

Electronic cigarettes have only recently gained through quality, but these devices have been around for many years. As the need for electronic cigarettes was evident as early because the Sixties. As the stigma around smoking cigarettes grows, so too will the interest in this smoke-free different. Learn more regarding the journey e-cigarettes have taken throughout their history, and you’ll get a better sorrow wherever these devices might move into the long run.

1963: The herbert A. Gilbert and the first e-cigarette

Herbert A. Gilbert was a smoker himself, but he saw associate degree inherent flaw in cigarettes. As he put it in one interview, “when you burned leaves and wood, even if you probably did it in your backyard, it yielded a result that no one wanted to require into their lungs.”

Gilbert proceeded to design the primary electronic fag and proprietary his invention in 1963 underneath the title smoke-free Non-Tobacco fag.

1979: The favor cigratte introduces vaping

Around 1979, Dr. Norman Jacobson who gave an idea which would ultimately thing called as vaping. His solution was to inhale pure alkaloid through a piece of liquid soaked paper.

2003: Hon Lik develops an electronic

More than twenty years passed before electronic cigarettes took another discovery. Chinese pharmacist Hon Lik is usually attributable because the discoverer of the primary e-cigarette.

2004: Ryan produces electronic cigrattes

In 2004, the company Hon Lik worked for changed its name to Ruyan, which suggests that “like smoking. The device gained rapid quality, having finally emerged into a market that was actively looking for an alternate to ancient cigarettes.

2007: Electronic cigrattes reach the United States

Electronic cigarette history gets way additional active following the fast adoption of Hon Lik’s device. These products unfold quickly across Europe and reached the United States market in 2007. Soon, devices hit the market in a type of shapes, sizes, and flavors.

2008: New Zealand deems e-cigarettes a safe different

Health organizations quickly became involved with the sale and production of e-cigarettes, with many issuance claims that they were not safe. A New Zealand study tested Ruyan e-cigarettes for quite fifty priority-listed toxicants in fag smoke.

2009: Washington times criticizes FDA’s scare tactics

In 2009, a New York Times piece by Dr. Elizabeth Whelan, the president of the American Council on Science and Health, criticized the FDA’s stand on electronic cigarettes. In the article, she states that the foremost dangerous element in ancient cigarettes is that the combustion and ensuing smoke.

2015: Vaporcade™ announces the first cellular vaping device

Vapor Cade takes electronic cigarettes to a new level with the cellular vaping device called Jupiter™. Available for preorder, these products mix cell phone use and vaping to make a phone you’ll smoke.

Conclusion:

As this tour through electronic cigarette history shows, the idea of vaping is hardly new, yet innovative ways in which of participating in this activity still pop all the time. Though the future of e-cigarettes can beyond any doubt embody more studies, revelations, and debates. This is a very important technology that already has legion users reaching for this as a safer alternative to smoking tobacco.History of E-Cigarettes and Vaping Devices

Source

Advertisements

Bengaluru-based IOT Startup Cooey Launches India’s First Smart Glucometer for Diabetics – Dream Weaver Diaries


 

Bengaluru-based IOT Startup Cooey Launches India’s First Smart Glucometer for Diabetics

Internet of Things is a hot topic and increasingly used in many sectors. Healthcare is one sector which has rapidly adopted some good IOT practices. The analyst firm Gartner says that by 2020 there will be over 26 billion connected devices all over the world. Even in India, we have seen successful IOT startups like SenseGiz, Trak N Tell, CarIQ, RHL Vision to name a few. Here is one such IOT startup from India which is trying to disrupt the healthcare industry with connected devices.

Bangalore based Cooey is an end-to-end IoT-enabled chronic health-monitoring platform which allows its users to self-manage (log and analyze), educate and share/interact with a physician and other service providers with help of its ‘App’. It provides insights and personalized health tips to patients based on their medical profile. The initial focus is on managing hypertension and diabetes. Users can use smart devices viz., Smart Glucometers, Blood Pressure Monitors and Body Fat Analyzers seamlessly or through voice commands, screen capture and manual methods to log data.

Founded by Manu Madhusudanan and TP Prabhakaran in June 2015, Cooey (‘ku:i) is a peculiar sound uttered by the Australian aborigines as a call to attract attention. In a first of its kind in India, Cooey launches India’s first smart Glucometer for diabetics.

Cooey Smart Glucometer

“Existing blood sugar monitoring glucometers are dumb, drain battery and need manual data entry,” says Manu Madhusudanan, CEO & Co-founder of Cooey Technologies. Marrying user-centric design and smart technology, Cooey has released India’s first IOT glucometer that wirelessly syncs data with a smartphone.

The Cooey glucometer is automatic and simple. The blood glucose levels are measured through blood on a strip in the smart glucometer and the data is automatically logged. Complete access to history, patterns, spikes and other data to track the progress of the patient is available and can be shared with the doctor through WhatsApp, text message or e-mail, allowing enormous convenience. Mistakes in manual entry of values, forgetfulness or forgetting to carry records is completely eliminated.

“The day is not far off,” says Madhusudanan,” when Cooey can remind you to drink water or exercise or offer diabetes-friendly food options based on location data, promising a painless diabetes management experience.”

Cooey’s Smart Glucometer is a small, pocket-sized device that is portable, connects to a smartphone using the 3.5mm headphone jack and transfers the readings automatically into the Cooey application. Cooey offers three smart devices, which are available on Flipkart and Amazon – Smart Glucometer (Flipkart), Blood Pressure Monitors (Flipkart / Amazon )and Body Fat Analyzer (Flipkart / Amazon) – all of which connect seamlessly with the app.

The android app, which can be downloaded from Google PlayStore, has already seen 90,000 downloads across the world indicating a strong need for effortless monitoring and diabetes management. Cooey plans to release an iOS app for Apple devices soon.

What does Cooey do?

Cooey is an end to end health monitoring IOT platform that intends to collect (device), store, analyze and provide insights of vital signs for patients. It connects you with the health services and provides personalized services according to your health state. For end users it is a health management application with personalized services.It is single window for life management. Enrich your life with personalized insights from your daily life.

Cooey targets:

  • Wellness
  • Chronic patients (Current focus is Diabetics and Hypertension)
  • Antenatal care

Cooey offers:

  • Devices: Log, share your medical data and let us do the analysis
  • Smart assist: Personalized tips and recommendations based on daily life activities from our smart recommendation engine
  • M-Log: Mobile based personal health management application. Diabetes and Hypertension App. Services available in India.
  • W-Log: Web-based portal which works on mobiles,tablets and desktop computers

Cooey Technologies

According to a new report published by Allied Market Research, IOT healthcare market is expected to reach $136.8 Billion, worldwide, by 2021. IoT in healthcare market is anticipated to grow at a significant pace, owing to easy availability of wearable smart devices, increasing need for stringent regulations and decreasing cost of sensor technology. Services and system & software segments collectively occupies a dominant share in the world IoT healthcare market and is expected to drive the growth over the forecast period. Patient monitoring application segment is expected to maintain its lead position with $72.7 billion by 2021.

Key Findings of the study:

  • Healthcare providers (hospitals, doctors) and patient’s end user segment would continue to lead the market, accounting for more than three fourth share in 2015.
  • Fitness and wellness measurement application segment is expected to grow at a CAGR of 15.7% during the analysis period.
  • Asia-Pacific is projected to be the fastest growing region in internet of things (IoT) healthcare market, registering a CAGR of 17.0% during 2015 and 2021.

Keeping in mind the market potential of IOT based healthcare devices, Cooey’s value proposition is highly encouraging.

 

What do you think of this amazing IOT startup from India. Post your comments below.

source –  dream weaver diaries

Image

Nice Wallpapers (12)

Video

Facebook is watching and tracking you more than you probably realize


Whenever you’re on Facebook, do you ever get the feeling that you’re being watched? An ad pops up that’s right up your alley, or three new articles show up in your feed that are similar to something you’ve just clicked on.

Sometimes it seems like Facebook knows you personally, and that’s because it does. It has algorithms that track what you like, watch and click on. That information is then passed along to Facebook advertisers.

Facebook itself isn’t the only culprit. Tons of companies use Facebook’s platform as a way to track you. In fact, right now there a probably dozens of companies that are watching your posts, storing your profile information and more, without you even realizing it. Today, I’m going to tell you how to stop it.

How did this happen in the first place?

When Facebook first started out, people rushed to the platform because of the many perks that it offered. One of those perks, and probably the most appealing, was the fact that Facebook was entirely ad-free. You could use the platform to connect with family and friends without being bothered by someone trying to sell you something.

Well, like they say, “All good things must come to an end.”  Eventually, Facebook began selling ads like everyone else. And that’s when everything changed.

People realized that Facebook provided a treasure trove of information for advertisers. By clicking “like” users were telling companies exactly what they wanted — more of this, less of that, please. This led to the big data tracking we now see.

Three sneaky ways companies are tracking you:

Most people understand that Facebook is tracking their preferences whenever they use the app. But, few realize they’re being tracked in other ways too. And, that’s what these third-party companies are banking on. If you don’t know you’re being tracked, then you won’t ask them to stop. So, here are three things to watch out for.

Facebook apps: This is when you receive a request to play a Facebook game your friends are obsessed with, and you decide to sign up. If you’ve ever done this before, then you’ve allowed that app developer track you. These third-party apps integrate with your Facebook profile and generally have permission to pull whatever information they want. And although you can edit what information they can access, very few people do.

Facebook logins: This is when you visit a site and it says “Log in with Facebook,” and you do, then you’re letting that company track you.

Friends’ apps monitoring you: Even if you didn’t download an app, Facebook’s default settings allow apps your friends have installed to also see YOU. It’s pretty scary.

How to stop it from happening:

You might be wondering why this even matters, and how it really impacts you personally. The easiest way to answer those questions is to point out all of those big data breaches you hear about almost daily. Hackers rarely waste time on individuals these days. They’ve got much bigger fish to fry. Large retailers, for example – or the databases where these third-party companies store the information they’ve gathered. That’s why everyone should take these steps to protect their private information.

Review and edit installed apps: To see what apps you’ve installed over the years, open Facebook in your browser, click the down arrow in the upper right corner and select “Settings.” Then click on the “Apps” header in the left column.

To see what information an app is accessing, click the pencil icon next to any of the apps to see and edit the settings. The first setting lets you set who can see that you use the app. It defaults to “Only Me,” so it isn’t a big deal. Below it, however, is another story.

In the case of Skype, for example, it pulls your public profile information along with your list of friends, email address, birthday and hometown.

Remember that this information is being stored on a third-party server. Not every app developer is going to have Microsoft-level security, and hackers are good at turning tiny pieces of stolen information into big gains.

If you want to keep using the app, you can deselect certain items, such as your email address. Be aware that won’t remove the information from the app developer’s servers, however. If you change your email address in the future, however, the developer won’t get the new one.

Remove apps you don’t use: If you don’t want to use the app anymore, you can click the “Remove app” link at the bottom of the page. Just remember that this won’t automatically remove your information from the app developer’s servers. For that you’ll need to contact the app developer directly. Facebook has a link for more information on this under the “Remove info collected by the app” section in the app’s settings.

Turn off apps completely: If you’ve deleted all the apps, and you’re not keen on accidentally installing more in the future, you can turn off the app platform completely. Just note you won’t be able to install apps or log in to third-party sites using Facebook until you turn this back on.

To turn off the app platform, go back to the App Settings page. Under “Apps, Websites and Plugins,” click the “Edit” button. At first, this just looks like a way to disable app notifications and invites from other people, which is a big help on its own. However, you’ll want to click the “Disable Platform” link in the bottom left corner.

Facebook gives you the standard warning about what disabling the platform does. If you’re OK with it, click the “Disable Platform” button. Again, this won’t remove information that app developers might have collected about you already.

Stop logging into sites using Facebook: In the future, when you’re adding an app or logging into a website try to avoid logging in with Facebook. But, if you must use Facebook to log in, then look for the “Log in Anonymously” or “Guest” option so it won’t share your information.

Stop friends’ apps from seeing your info: Apps can still get your information through your friends. By default as your friends install apps, those apps have permission to grab whatever info about you your friends can see.

To put a stop to this, go back to the App Settings page. Then under “Apps Others Use” click the “Edit” button.

You’ll see everything that your friends’ apps can see about you. Go through and uncheck every option listed on the page, and then click “Save.” Now companies can’t track new information about you.

Apps aren’t the only worry you’ll run into on Facebook. Recently I told you how scammers use Facebook like-farming can put your privacy at risk. Find out how like-farming works and how you can avoid it.

If you want to like something safe that will also bring you the latest news and updates to stay ahead of the game in your digital life,

Explain Equity


When someone goes to work for a larger corporation or public company, Continue reading “Explain Equity”


Be it a startup or an already established organization. At times it becomes difficult to accustom 
to the change when you start working
. A first timer finds it all the more difficult to get used to the extremely fast paced environment of a startup or impressing colleagues and seniors at an MNC.
 

Continue reading

Muslate is betting high on promoting music and Indian Artists to the World


 

 Rohit Goyal being a big fan of alternate and indie music since his college days, and also happened to be friends with some of the people who were seriously  interested to choose music as their main stream career, was always aware of the problem that they had to face at different times. Continue reading “Muslate is betting high on promoting music and Indian Artists to the World”

IIT graduates aiming to make industrial and office purchase hassle free



Started by young IIT Bombay graduate, Omnikart is an e-commerce platform providing an end-to-end solution for all sorts of industrial and office supplies needs. The portal manages entire process of procurement and delivery thus helping customer and vendors minimise their efforts.

Omnikart is a startup by a bunch of ex-IITians who aims to solve the procurement problem existing in the Indian industrial market.  Presently omnikart.com operates with 30+ product categories and over 75,000 products from well-reputed brands.

The idea came up when one of the founders started facing problems while sourcing products for his experiments. Sensing an opportunity to bridge the gap, the founders formed Omnikart. The company was formed to cater to educational institutes with their lab related equipment. Later, sensing the huge market demand, founders decided to jump into the industrial and office supplies. According to a report by Walmart, India’s B2B e-commerce market opportunity is currently valued at $300 billion, which is expected to expand to $700 billion by 2020.

founder and ceo of omnikart
Founder and ceo of omnikart

Talking about the initial days, Faisal Ansari, Co-founder & CEO, Omnikart.com, says, “We also had our share of challenges. Initially the manufacturers and dealers were hesitant to give us their product for listing. They had never imagined that industrial equipment could be sold over the Internet. But a lot has changed in a short period of time.”

The Mumbai-based company currently ships products in Mumbai and within a span of 8 months it has shipped 3000 products with average ticket size of Rs 3000. Omnikart recently raised angel round of funding from Willfly Ventures and is now looking to expand to other manufacturing destinations. The investment will be used for expanding the product portfolio, introducing new features, enhancing brand visibility and hiring talents.

“The industrial B2B segment is highly fragmented and unorganised. There are many layers between manufacturers and buyers, we are working towards bridging this gap and eliminate the middleman thus bringing transparency, making product cheaper and the delivery hassle free.  In short, we want to make the industrial purchase smooth and hassle-free,” adds mandar Zope, Co-founder & CTO, Omnikart.com.

The company also provides technical assistance to the customers in selecting the right product as per their requirement and operates in both b2b and b2c manner.

omnikart webpage
omnikart webpage

Going forward Omnikart is looking to raise seed round of funding in the next 3 months. The company competes with well-established players like Alibaba, tolexo.com and industrybuying.com, but Faisal and his team consisting 25 young member are confident that their new features will set them apart from the existing players.  Omnikart is looking at increasing their manpower to 40 in the next 2 months.

Remember the Guy Who Gave His Employees a $70,000 Minimum Wage? Here’s What Happened Next.


This post originally appeared in Inc.

Before Dan Price caused a media firestorm by establishing a $70,000 minimum wage at his Seattle company, Gravity Payments … before Hollywood agents, reality-show producers, and book publishers began throwing elbows for a piece of the hip, 31-year-old entrepreneur with the shoulder-length hair and Brad Pitt looks … before Rush Limbaugh called him a socialist and Harvard Business School professors asked to study his radical experiment in paying workers … an entry-level Gravity employee named Jason Haley got really pissed off at him.

It was late 2011. Haley was a 32-year-old phone tech earning about $35,000 a year, and he was in a sour mood. Price had noticed it, and when he spotted Haley outside on a smoking break, he approached. “Seems like something’s bothering you,” he said. “What’s on your mind?”

“You’re ripping me off,” Haley told him.

Price was taken aback. Haley is shy, not prone to outbursts. “Your pay is based on market rates,” Price said. “If you have different data, please let me know. I have no intention of ripping you off.” The data doesn’t matter, Haley responded: “I know your intentions are bad. You brag about how financially disciplined you are, but that just translates into me not making enough money to lead a decent life.”

Price walked away, shocked and hurt. For three days, he groused about the encounter to family and friends. “I felt horrible,” he says. “Like a victim.” An entrepreneur since he was a teen, Price prided himself on treating employees well at Gravity, which he co-founded in 2004 with his brother Lucas Price. Three years before, as a 16-year-old high school kid, Dan Price saw bar owners being gouged by big financial firms every time they swiped a patron’s credit card. By first outsourcing technology, and then building its own systems, Gravity offered lower prices and better service, and grew rapidly for four years—until the Great Recession nearly wiped it out. Traumatized, Price kept a lid on wages even after the economy recovered—to save the company, of course! Why can’t employees see that? Yet the more people tried to cheer him up about his wage policy, the worse Price felt.

Finally, he realized why: Haley was right—not only about being underpaid, but also about Price’s intentions. “I was so scarred by the recession that I was proactively, and proudly, hurting my staff,” he says. Thus began Price’s transformation from classic entrepreneur to crusader against income inequality, set on fundamentally changing the way America does business. For three years after his face-off with Haley, Price handed out 20 percent annual raises. Profit growth continued to substantially outpace wage growth. This spring, he spent two weeks running the numbers and battling insomnia before making a dramatic announcement to his 120-member staff on April 13, inviting NBC News and the New York Times to cover it: Over the next three years, he will phase in a minimum wage of $70,000 at Gravity and immediately cut his own salary from $1.1 million to $70,000 to help fund it.

The reaction was tsunamic, with 500 million interactions on social media and NBC’s video becoming the most shared in network history. Gravity was flooded with stories from ecstatic workers elsewhere who suddenly got raises from converted bosses who tossed them out like Scrooge after his epiphany—even, in one case, at an apparel factory in Vietnam. Price was cheered at the Aspen Ideas Festival and got an offer from The Apprentice reality-show impresario Mark Burnett to be the new Donald Trump on a show called Billion Dollar Startup. Gravity was inundated with résumés—4,500 in the first week alone—including one from a high-powered 52-year-old Yahoo executive named Tammi Kroll, who was so inspired by Price that she quit her job and in September went to work for Gravity at what she insisted would be an 80–85 percent pay cut. “I spent many years chasing the money,” she says. “Now I’m looking for something fun and meaningful.”

Price had not only struck a nerve; he had also turbocharged a debate now raging across the American landscape, from presidential forums to barrooms to fast-food restaurants. How much—indeed, how little—should workers be paid? While financiers and C-suite honchos have showered themselves in compensation, most Americans haven’t had a raise, in real dollars, since 2000. Especially in the wake of the recession, entrepreneurs and corporate bosses have tightly controlled costs, including wages. That boosts profits—and bonuses. But at what cost? In a U.S. economy that is more than two-thirds consumer spending, GDP growth is chained to income growth. Workers can’t spend what they don’t have, nor do they have the home equity to borrow and spend. Weak wage growth helps explain why this long economic expansion has been so tepid.

Until Price dropped his wage bomb, much of that debate was punditry. He gave it a name and a face: A modern Robin Hood helping the working class by stealing from himself—and perhaps from shareholders of other companies whose bosses are now also putting employees ahead of profits: #imwithdan! Was it coincidence that Walmart, that paragon of parsimony, coughed up raises for its lowest-paid workers?

Then the inevitable backlash came. Price has been pilloried on Fox News and trashed by the multimillionaire Limbaugh (“I hope this company is a case study in MBA programs on how socialism does not work, because it’s gonna fail”). A Times story in July was so laden with quotes from disgruntled customers and staff that Price’s worried friends called to say he always has a place to stay if things don’t work out. Others accused Price of orchestrating a clever publicity stunt. (“If it was,” he replies, “I’m a genius.”) Shortly after Price announced his minimum, his brother Lucas sued him, claiming Dan had previously paid himself “excessive compensation” and asked the court to order Dan to buy Lucas’s 30 percent share of Gravity “at fair value” or dissolve the firm. Lucas declined to comment; Dan denies his brother’s claims.

Price isn’t backing down about pay going up. Now he’s going all in. He revealed to Inc. that he has sold all his stocks, emptied his retirement accounts, and mortgaged his two properties—including a $1.2 million home with a view of Puget Sound—and poured the $3 million he raised into Gravity. As majority owner, he is not exactly penniless. But if Gravity fails, so does Price. “Most people live paycheck to paycheck,” he says. “So how come I need 10 years of living expenses set aside and you don’t? That doesn’t make any sense. Having to depend on modest pay is not a bad thing. It will help me stay focused.”

And business owners will stay focused on him. The Dan Price Pay Experiment will either be hailed as a stroke of genius showing that entrepreneurs have underpaid their workforces to their companies’ detriment, or as proof positive that Gravity is being run by a well-intentioned fool.

“I love Monday mornings,” says Price, relentlessly upbeat as usual, walking through Gravity’s sparse office in the Ballard section of Seattle, a rapidly gentrifying former fishing village. He wears the full hipster regalia of ripped jeans, untucked shirt, and sneakers. The office looks as you might expect—desks and computers in bland cubicles—but the space is reorganized every six months so people can sit near different colleagues. “So we don’t get too comfortable,” Price says.

Being comfortable wasn’t a goal in Price’s family when he was growing up in rural southwest Idaho, near Nampa. He and his five siblings took turns waking at 5 a.m. to make breakfast before Bible readings and prayers led by their Evangelical Christian parents. On his own, Price spent hours reading Scripture and reached the finals of a national Bible-memorization competition in the fifth and sixth grades. Like his siblings, he was homes-chooled until age 12. That’s when he rebelled a bit, dying his hair with red and blue streaks and painting his nails like the punk rockers he listened to.

Price learned to play bass guitar and formed a Christian rock trio called Straightforword, which was successful enough to tour and get national airplay. At 16, when the band broke up, he decided to help the struggling owners of bars and coffee shops where they had played by negotiating cheaper rates from the credit card processing companies, which offered little more than exorbitant prices and spotty service.

Though his family struggled financially, Price never thought of his enterprise as a way to make money. Inspired by his father, Ron Price, a self-employed consultant who often spoke of living according to your values, Dan says he just wanted to help friends like Heather, who ran the Moxie Java coffee shop in Caldwell, Idaho. But make money he did, rounding up more than 200 clients and in a good month netting $12,000. By the time he entered Christian Seattle Pacific University in 2004, Price had developed a more sophisticated business model: processing credit card transactions himself using outsourced technology.

Though fluent with computers, his real skill was negotiating—cobbling together deals with the myriad firms involved in making a single credit card swipe go through smoothly. While continuing to serve his Idaho customers, he found enough new ones in Seattle to start Gravity Payments with Lucas, five-and-a-half years older and already a college graduate. He also married Kristy Lewellyn, a high school sweetheart whose strict Christian parents demanded, when Price was 16, that he commit to marriage or stop seeing her. He agreed, but the union didn’t last, ending amicably in 2010.

Dan and Lucas were 50-50 partners in Gravity and shared responsibilities but had a falling out about 18 months after launch. Lucas was frustrated at being given menial tasks by his kid brother, and in 2008, they agreed that Dan would become majority owner. Lucas is now an executive at the Seattle texting startup Zipwhip.

Funded in part by Dan’s savings, credit card debt, and student loans (diverted to fund his venture), the company grew rapidly as Gravity built its own technology and brought the card-processing systems in-house. He somehow graduated from college in 2008, won several business awards, and met President Obama. Then the recession hit and Gravity fell rapidly to earth. Revenue dropped 20 percent, and vendors and clients went bankrupt. Price was spooked. “We almost lost everything,” he says. Always stingy with pay, he had offered employees the usual startup promise: We’ll give you an exciting place to work, and you’ll learn so much you’ll eventually be financially successful—either here or elsewhere. But after his encounter with Jason Haley, he decided to try a new tack.

The 20 percent raises Price implemented in 2012 were supposed to be a one-time deal. Then something strange happened: Profits rose just as much as the previous year, fueled by a surprising productivity jump—of 30 to 40 percent. He figured it was a fluke, but he piled on 20 percent raises again the following year. Again, profits rose by a like amount. Baffled, he did the same in 2014 and profits continued to rise, though not quite as much as before, because Gravity had to do more hiring.

“But I was still bothered and I didn’t know why,” he says. In March, Price went walking with a good friend who earned less than $50,000 at another firm. She was smart, capable, and worked 50 to 60 hours a week. But her Seattle rent was rising another $200 a month, and she was struggling with student debt and worried about how to pay for basics. “I was so angry,” Price says. “Here I am walking around making $1 million a year, and I’m working shoulder to shoulder with people in her situation who are every bit as good and valuable as I am.”

As a numbers guy, he knows all the statistics. Even as the nation’s productivity has improved 22 percent since 2000, median wages have risen only 1.8 percent, adjusted for inflation. Wages have actually fallen by 3 percent since the recession. Meanwhile, productivity gains are going to CEOs who earn, on average, about 300 times more than typical workers, compared with 71.2 times in 1990, according to the Economic Policy Institute. (Price’s $1.1 million salary was about 23 times the $48,000 average at Gravity.) Such trends have driven the push for a $15 minimum wage in some cities, including Seattle.

“I began wondering what my friend would have to make so she wouldn’t have to worry about a $200 rent hike,” says Price. He recalled a 2010 study by Princeton behavioral economist Daniel Kahneman finding that, while people did not feel happier on a daily basis as their income rose above $75,000, they were decidedly unhappier the less they earned below $75,000. At Gravity, new hires made $35,000 a year.

By any measure, Gravity was doing relatively well. Revenue hit $150 million in 2014 and was growing 15 percent per year on $7 billion in customer transactions. Profits hit $2.2 million—actually a so-so 1.46 percent net margin, below the industry average. About 40 percent of the profits went to Dan and Lucas as dividends (Dan put his in an emergency savings account for the company). The rest went back into the business. “We had a great culture and hundreds of people were applying for positions, so we could have gotten away with underpaying for a while longer,” he says.

But Price worried that employees with money troubles would fail to provide the top-notch service that had made Gravity successful. He also believed that low starting salaries were simply wrong—contrary to his values, which his father had always taught him to respect. “I just decided I’m gonna do $70,000,” he says. “I don’t care if I have to stop paying myself or I have to work 20 hours a day. I’m going to do it.”

The plan will eventually double the salaries of 30 workers and give raises to 40 more making less than $70,000. Phased in over three years, this will cost $1.8 million. The minimum jumped to $50,000 immediately and will climb by $10,000 in each of the next two years; those who earn $50,000 to $70,000 will get $5,000 raises. Price has vowed not to raise prices, lay off staff, or cut executive pay. More than half the cost will be offset by Price’s pay cut. Unless revenue grows, the rest will be covered by that $2.2 million profit, leaving little margin for error.

Since that April made-for-TV moment, Price says he’s had no second thoughts—mostly because he’s been learning how his employees had been struggling. Garret Nelson, 31, a salesman in Boise, Idaho, got a $5,000 raise, to $55,000, allowing him to pay for teaching supplies and music lessons for his five homeschooled kids. “People back in Idaho said he was nuts,” says Nelson, who went to middle school with Price. “But it really energized the employees.”

Is there a magic number that keeps workers focused while still generating a profit? Price calculated a figure but never imagined the publicity he’s gotten would boost new customer inquiries from 30 per month to 2,000 within two weeks. Customer acquisition costs are typically high, so in that sense, the strategy has paid off. And in this business, customer retention is key. Gravity’s 91 percent retention rate over the past three years—far above the industry average of about 68 percent—has been crucial to its success. Maria Harley, Gravity’s vice president of operations, looks at a different set of numbers. While the company had to hire 10 more people than anticipated to handle the new business, most nonlabor costs—rent, technology, etc.—have remained the same, thus improving operating ratios. “We don’t need our sales to double,” she says. “We only need them to increase marginally—by about 25 to 30 percent. When I started being more logical than emotional about this, I said, ‘This is totally possible.'”

Six months after Price’s announcement, Gravity has defied doubters. Revenue is growing at double the previous rate. Profits have also doubled. Gravity did lose a few customers: Some objected to what seemed like a political statement that put pressure on them to raise their own wages; others feared price hikes or service cutbacks. But media reports suggesting that panicked customers were fleeing have proved false. In fact, Gravity’s customer retention rate rose from 91 to 95 percent in the second quarter. Only two employees quit—a nonevent. Jason Haley isn’t one of them. He is still an employee, and a better paid one.

In fact, the biggest threat to Price’s company isn’t his strategy; it’s his brother. Lucas’s lawsuit, scheduled to be heard in May, could ruin Gravity. Price estimates legal fees will reach $1 million by then. The suit was filed on April 24, 11 days after the pay-raise announcement—perhaps to pressure Dan to sell when Gravity was in the limelight, thus maximizing the value of Lucas’s share. Dan says Lucas has refused his offer to buy him out for $4 to $5 million. (Lucas’s attorney says the suit is unrelated to the raises.)

When asked about his brother, Dan maintains his usual upbeat, grateful attitude: “We’re in such a great place with the company and Lucas helped me get here. Anything he gets, I won’t begrudge. I’ll be glad he got it and think he deserves it.” Asked how he can remain so charitable when his own brother is suing him—Lucas was best man at his wedding—Price laughs and says he’s been seeing a family therapist for about a year.

Brother or not, he vows to fight fiercely to protect his company. “I will do anything to help Lucas reach his financial goals,” Dan says, “as long as it doesn’t lead to price increases to our merchants, decreases in services to them, pay cuts, or other types of cutbacks to our investments in our team.”

Raising your cost of doing business is generally not considered the best way to increase profits and improve market position. Yet the finish line for Price may be when he can lift his own salary up to market rate—making it easier for the company to replace him, if necessary, and show CEOs that sacrifice by the boss is only temporary when overhauling a company’s wage structure. He’d also like to get his $3 million loan back—invested to “take us from a low to a high margin for error,” he says—but won’t sweat it if that doesn’t happen. “I started with nothing,” he says. “I can always make enough to support myself.”

Price says establishing a $70,000 minimum wage is a moral imperative, not a business strategy. And yet he must prove the business wisdom behind it, not only to keep Gravity from sinking—and going down with the ship himself—but also to achieve his long-term goal of transforming the business world. “I want the scorecard we have as business leaders to be not about money, but about purpose, impact, and service,” he says. “I want those to be the things that we judge ourselves on.”

How to move forward when you have too many ideas


True entrepreneurs have an uncanny knack for seeing opportunity in everyday circumstances. What to some people, is merely a frustration — for instance, the absence of an app to handle some desired tracking function — is a clear source of inspiration for the entrepreneurially-minded. Continue reading “How to move forward when you have too many ideas”

Image

Quote of the Day


image

Top Entrepreneurs in India Who Didn’t Give a Damn About IIT/IIM


Top Entrepreneurs in India Who

Didn’t Give a Damn About IIT/IIM

ALOK KEJRIWAL
Sydenham College, Campion School

Alok Kejriwal is a top serial entrepreneur from India who made his name with the Contests2Win companies, especially Games2Win, which comScore rates as one of the top 20 online gaming businesses in the world. The site has hundreds of games and gets over 15 million unique users each month. A typical Mumbai boy, Kejriwal’s alma mater consists of the Campion School in Colaba and the Sydenham College. While The Walt Disney Company has acquired Mobile2win China, he now acts as a mentor for many startups and has launched a community for budding entrepreneurs – Rodin Hoods.


ASHISH HEMRAJANI
Sydenham College, Manekji Cooper

Ashish Hemrajani, who helms one of India’s top entertainment ticketing applications and analysis solutions provider, Bigtree Entertainment, is an MBA from the Mumbai University (Sydenham College). He completed his schooling from the prestigious Manekji Cooper School in Juhu, Mumbai. After a two-year stint at J. Walter Thompson (JWT), Hemrajani founded Bigtree Entertainment that launched Bookmyshow, which has managed to grab 90% market share in the online entertainment ticketing space. In addition, the Network 18 group has heavily invested in his company.


BHAVIN TURAKHIA
D.G. Ruparel College of Arts, Science and Commerce, Arya Vidya Mandir

Bhavin Turakhia is an internet maverick, who managed to have a vision about the internet industry in India as no one did. Turakhia, while still in college at Ruparel founded Directi, a web products company, in the late nineties. Now, a technology conglomerate, it has nearly a thousand employees. There are two special things about Directi. One is a pretty well known fact that Turakhia started the company with a capital of Rs 25,000 from his father. What many people don’t know is that thanks to the company’s culture and hiring practices, quite a few employees of Directi have gone and helmed important positions at major startups and have founded their own companies. Turakhia is a top entrepreneur in India who has thus indirectly mentored many entrepreneurs in India.
(PS: sumHR is co-founded by Jay Thaker, who started his career at Directi in mid-2000s.)


DEEPAK RAVINDRAN
Kannur University (Dropout)

Deepak Ravindran founded one of the leading mobile companies Innoz, while still at college in 2008 along with three of his fellow students. This tech startup operates the largest offline mobile search engine 55444, which has managed to clock 15 million plus user, and is still growing. In fact, Innoz was rated among the top 100 technology companies by the Red Herring magazine. The only connection that Ravindran has with top educational institutions such as IIT, IIM, or Stanford is that he’s given lectures about the finer nuances of entrepreneurship and starting up to the students of these elite institutions!


DIPPAK KHURANA
Narsee Monjee, St. Thomas High School

Dippak Khurana, the co-founder of Vserv.mobi, earned his Bachelor’s in Commerce as well as his management degree from Narsee Monjee in Mumbai. His company Vserv.mobi acts as an advertising network for app developers, publishers, and advertisers, enabling major global brands and digital agencies for the in-app marketing. Prior to starting up Vserv.mobi, Khurana worked at major digital technology projects for biggies like Times of India, Yahoo, and Mauj. However, his zeal for entrepreneurship began during his college days when he started up a business manufacturing and selling t-shirts with rock band prints, which was followed up by a livestock business after graduation.


GIRISH MATHRUBOOTHAM
University of Madras, SASTRA University, and Campion

Girish Mathrubootham, who is the Founder & CEO for one of the leading customer support software provider Freshdesk, could well be an ideal role model for all professionals working at tech companies. Educated at the SASTRA University (Bachelor of Engineering) and University of Madras (MBA in Marketing), Girish got the idea of a helpdesk software after reading an online discussion, after which he thoroughly followed it up and quit his plush job at ZOHO. Freshdesk is now one of the top web based customer support platform, thanks to its really simple to use GUI and intuitive interface. Mathrubootham’s experience and leadership, coupled with competitive rates has made the service a preferred choice of not only startups but also major corporations.


KUNAL SHAH
NMIMS (Dropout), Wilson College

Kunal Shah, the co-founder and CEO of FreeCharge.in, completed his Bachelors of Arts in Philosophy and joined the NMIMS to pursue an MBA but soon dropped out. While he began his first company, PaisaBack, a business process outsourcing firm in 2009, it was FreeCharge.in which has caught the interest of many. Established in 2010, the online recharged site has attracted the likes of Sequoia Capital India, who have pumped in Rs 20 crore. Another indicator of Shah’s success with FreeCharge.in is the number of copycat sites that have come up and imitated their business model!


MAHESH MURTHY
Osmania University (Dropout), Kendriya Vidyalaya

Say the words digital media and startups, the first person that comes to your mind is Mahesh Murthy. Schooled at a Kendriya Vidyalaya, Murthy then went to Osmania University to study Chemical Engineering but dropped out after a year and just like every other dropout in India those days, joined the advertising industry and grew through the ranks. He eventually founded Pinstorm, one of India’s top digital marketing agencies. But Mahesh Murthy’s stint with entrepreneurship started in 1999, when he co-founded Geodesic, a pioneering company since it was product-driven. He is also a well-know investor, and is the Managing Partner at Seedfund, which invests in technology companies.


NEERAJ ROY
SIMSREE, Allahabad University, St. Joseph’s College, Nainital

Neeraj Roy, the MD & CEO of Hungama, completed his schooling at St. Joseph’s College in Nainital and then went to Allahabad University. Always, wanting to be an entrepreneur, Roy then came to Mumbai where he completed his MBA from Sydenham Institute of Management Studies, Research and Entrepreneurship Education (SIMSREE). Hungama is one of Asia’s top digital and mobile entertainment firms. Roy founded the company in 1999, after spending close to a decade at the Taj Group of Hotels and Prime Securities. In addition to being a top entrepreneur, Neeraj Roy has also invested in a company started up by an ex-Hungama employee.


NITISH MITTERSAIN
Sydenham College, Bombay Scottish

Nitish Mittersain is the founder and CEO of Nazara, one of India’s top mobile content platform provider and games publishers. Schooled at the Bombay Scottish, he then went to Sydenham College in Mumbai (just like the other top entrepreneurs in India on this list). While in college, Mittersain launched the firm, which focused only on games but it later started to provide content too.The company started just after the dotcom bubble burst but managed to rake in some Rs 20 crores in 2005 from Sequoia Capital. Nazara has come a long way since then and has even backed and incubated another gaming startup, Playcaso, which focuses on casual and social games.


RUDRAJEET DESAI
Fergusson College, Kendriya Vidyalaya

Rudrajeet Desai is the co-founder and CEO of Ideacts Innovations, a startup that has developed software for cyber-cafes and then successfully dabbled in technology solutions for online shopping. Desai graduated with a degree in Mathematics from the Fergusson College in Pune. He has completed his schooling at a Kendriya Vidyalaya. Commonly known as a cyber cafe advertising company, Ideacts Innovations managed to raise capital from Sequoia. Prior to starting up, Rudrajeet Desai worked for industry majors such as BPL Mobile, Cadbury, Mobile2win, and Group M, working on diverse fields, including large-scale distribution networks and branding.


SANDEEP SINGH
Symbiosis, Delhi University

Sandeep Singh is the co-founder of one of India’s leading online lifestyle apparel brand, Freecultr. He finished complete his Bachelors of Commerce with honors at the Delhi University, during which he also had his first stint with entrepreneurship. After graduation, Singh went to Symbiosis Institute of Business Management, where he completed his MBA with a specialization in communication and advertising. Freecultr is a young firm that was started in December 2011 by Sandeep Singh, Sujal Shah (who has now exited the firm), and Rajesh Narkar, and has been funded by the Smile Group. In addition to Freecultr, Singh previously started up Quasar Media, one of India’s top digital marketing agencies.


VARUN SINGH
Kurukshetra University (Dropout), Kendriya Vidyalaya

Varun Singh is the founder and CEO of ScaleArc, a Santa Clara-based technology firm that specializes in database infrastructure solutions. After completing his schooling from a Kendriya Vidyalaya, Singh joined the Kurukshetra University to study electronics and telecommunications but eventually dropped out. While he started off as a tech journalist, Singh created and worked on major online properties related to technology news/information in India, such as TechTree, Tech2, Web18, etc. He eventually started up ScaleArc, which has received some rave reviews and managed to get funding from major VC firms, such as Nexus Ventures, Accel Partners, and Trinity Ventures. This Indian entrepreneur is also a well know host for top technology-related shows on major networks, including CNN and Economic Times Now.


VINAY GUPTA
Sri Venkateswara University, Kendriya Vidyalaya

Vinay Gupta, the Chairman, Founder, and CEO of Via, completed his schooling at a Kendriya Vidyalaya and then went to Sri Venkateswara University and graduated with a degree in engineering (computer science). Formerly known as Flightraja, Via is India’s largest technology based travel services firm, and a network that spans 900+ cities in the country along with 17000 agents. Coming from a management consultancy background, Gupta has worked with companies such as Credit Suisse, Merrill Lynch, Morgan Stanley, etc. He founded Via in 2006, and has taken the company to great heights, attracting investments from Sequoia Capital and NEA IndoUS Ventures.


VINAY SANGHI
Sydenham College, Campion School

Vinay Sanghi is the Founder and Chief Executive Officer of CarTrade.com, one of India’s top online motoring market for buyers and sellers of new and used vehicles. Born and raised in Mumbai, Sanghi too went to the Campion School and then went to the Sydenham College to complete his graduation. While Sanghi commenced his career at a Bajaj dealership with a job in the sales department, it was in 1999 when he had his first real tryst as an entrepreneur after launched Automart, an online platform for selling pre-owned vehicles. But his claim to fame is with CarTrade.com, which has become a go-to site for car buyers in India, thanks to a network that spans 80 cities and 12000+ dealers. The company has backing of Canaan Partners, Tiger Global, and Epiphany.


VIRAT KHUTAL
Pune Institute of Computer Technology, IPS Academy, Indore Public School

Virat Khutal is the Founder and Chief Executive Officer of Twist Mobile, a Singapore-based mobile development company that focuses on mobile applications and games for India and other emerging countries. Schooled at the Indore Public School, Khutal then studied at the IPS Academy and Pune Institute of Computer Technology. Founded some five years ago, Twist Mobile has made a name for itself in application and game development, and has managed to attract investments from the likes of Matrix Partners India as well as Achal Choudhary, who provided the seed fund. Prior to this, Khutal worked as a game designer at games industry biggie Gameloft in Pune.


VISHAL GONDAL
RA Podar College Of Commerce & Economics, General Education Academy

Vishal Gondal is most probably India’s answer to the Cliff Bleszinskis and Gabe Newells! Schooled at the General Education Academy, Gondal then went to the well-known RA Podar College to study commerce but eventually dropped out to concentrate on his entrepreneurial ambitions. While he dabbled in video games and software development during his teenage years, it was in 1999 when he founded Indiagames, which went on to establish itself as one of the top gaming companies in India. The gaming company set up offices in other countries too. Disney acquired it for around a hundred million dollars in 2011, and Gondal was then made the MD of the newly formed DisneyUTV Digital (from which he quit recently). A true entrepreneur at heart, Vishal Gondal also invests in new startups via Sweat And Blood Venture Group.

life lessons by Dr sharukh khan


Shah Rukh Khan was invited to deliver a lecture to the students of the University of Edinburgh on October 15

Video

LIFE LESSONS by Dr.Shah Rukh Khan at the University of Edinburgh on how to Rule the Rules.


http://www.youtube.com/watch?v=VnnXAiTOLbo

Millionaires in India to rise by 65%, says credt suisse report


The number of millionaires in India would rise by 65 per cent to 305,000 in the next five years, revealed a global wealth report published by Swiss bank Credit Suisse. Globally, the number of dollar millionaires would rise 46.2 per cent, with the steepest increases likely to be across Asia-Pacific (66 per cent) and Africa (73 per cent), the report said. 

image
T R E

The report, which focuses on how the middle class has developed since 2000, has found that India had the second highest growth at 150 per cent this period. China had the highest growth in number of middle class at 330 per cent during this period. 
“Throughout the world, the size, health and resources of the middle class are seen as key factors in determining the speed and sustainability of economic development,” says John Woods, chief investment officer Asia Pacific, private banking & wealth management, Credit Suisse. 
THE RISING RICH 3% of India’s adult population falls in the middle-class wealth category Credit Suisse uses the US as the benchmark, where a middle-class adult is defined as having wealth $50,000 to $500,000, valued at mid-2015 prices Steepest increases likely across Asia-Pacific (66%) and Africa (73%) Number of dollar millionaires will rise 46.2% globally India household wealth has grown 8% in domestic currency terms since 2000. 
Credit Suisse defines middle-class in terms of a wealth band instead of an income range. It uses the US as the benchmark country where a middle-class adult is defined as having wealth between $50,000 and $500,000 valued at mid-2015 prices, while using the International Monetary Fund series of purchasing power parity (PPP) values to derive equivalent middle-class wealth bounds in local purchasing power terms for other countries. 
“The middle class is often at the heart of new consumption trends, and the major source of demand and funding for entrepreneurs and their businesses,” he says. 
Going by this definition, only three per cent of India’s adult population falls in the middle-class wealth category. Total household wealth in India has grown at an average eight per cent in domestic currency terms since 2000, found the report. As in many other developing countries, personal wealth in India is largely made up of property and other real assets, representing 86 per cent of gross household assets. 
The global economy is in its sixth consecutive year of real gross domestic product growth above three per cent, underpinned by still rapid – albeit decelerating – growth in some large emerging markets and a boost in the growth rate of some developed economies, in particular Europe. 
“Monetary policy is beginning to diverge, with the Fed likely entering a gradual tightening path, while elsewhere central banks are easing or staying put. This explains to some extent the relative changes in wealth over the last year,” says Michael O’Sullivan, chief investment officer for the UK & EEMEA, private banking and wealth management at Credit Suisse. 
“Going forward, we expect the global economy to accelerate slightly, with the Chinese economy stabilising as it makes a transition towards consumption and services. Against this backdrop, wealth is set to continue its upward trajectory and could grow at an annual rate of 6.6 per cent (including inflation), reaching $345 trillion in 2020.”

The Rising entrepreneurs

Inspiring Entrepreneurs

Storyshucker

A blog full of humorous and poignant observations.

julius22193

keep going

EMMANUEL MUEMA'S BLOG

Thank You For Giving Me A Million Views. For Advertisements Send Kshs 400 Via M-Pesa To 0711737196 Or Send 4 US Dollars Via PayPal To mycomuema@gmail.com

The Daily Post

The Art and Craft of Blogging

The WordPress.com Blog

The latest news on WordPress.com and the WordPress community.

%d bloggers like this: