_ June 10, 2019_ Lucian Costea

Techsylvanian gold – 5 ideas to go

What is really important when it comes to a business, is there a pinky promise in the online world, what is your company obsessed about, are painkillers easier to sell than vitamins? – these are just some of the questions that were discussed today, on the first day of Techsylvania, the Conference.

If you didn’t get the chance to attend or just want a refresh, we picked out 5 ideas that worth thinking about.

1. There is no pinky promise when it comes to online privacy – Ricardo Mendez – Samsung NEXT

They say the internet is a place of no law. Actually, no law – yet. Ricardo Mendez talks about how we can establish our identity.
“Identity is the core of our life, and digital identity is an aggregate of what we do online.”
Since this is so important to us, as human beings, we cannot trust companies like Facebook to decide. Also, regulations and fines have 0 effect.
“I wouldn’t really trust Facebook, as long as they are an ad company.”
The best solution yet?

Thanks, Ricardo for the homework!

2. The patient should be in the driver’s seat, not in the backseat – Adrian Peake – Medicover

An open panel at Techsylvania, moderated by Don Lothrop of Press One about how technology and healthcare can come together to speed up the revolution towards the benefit of the patients.
Bottom line is:
“We can’t do healthcare in traditional ways anymore. The true disruption will come externally” – meaning technology should take the first step and meet the needs of healthcare.
The future should be simple, making doctor’s appointments online, finding the best doctor through app recommendations, just like we find things on Tripadvisor.

3. Simple things can look important taken out of context – John Biggs – Techcrunch

And here the context is that industry outsiders don’t… understand… tech. In the investors rush for the most profitable ideas they forget to check their facts. Sometimes the big ideas are nothing but words that swallow in a lot of money.
Lesson learned, check the content, not just the context because we all tend to blindly believe the “specialists”.
Great, John – good tip for all of us!

4. Painkillers are easier to sell than vitamins – Adam Jackson – Braintrust

Adam states right at the beginning – venture capitalism isn’t for everyone. But for the ones who do choose this path he has some very pragmatic advice that will also keep your confidence level high.

One of the most important advice concerning the investor – venturer relationship is just that: repeat to yourself often, they need you more than you need them. Also, because there is more venture money in the world than good ventures.

When looking for investors you need to start with their needs. Think about it, since investors base their decisions on pattern-matching (similarity in successful stories) and your idea is too innovative – you won’t get your money. Because they are looking for painkillers that solve an actual problem while vitamins just might prevent something that isn’t there.

Adam – we think we got it – we won’t invest in “vitamins” no more. #deep

5. Find your obsession, have a purpose – Donald DeSantis – VTS – a highlight of day 1 of Techsylvania

A lot of the most successful companies that are out there right now don’t pay the highest salaries. Because in the long run, it is not about the money it is about a sense of purpose – basically, this is what Donald believes in.

In the QUALITY – SPEED – COST trap, companies can only do well on two. So they just end up in a never-ending loop of compromise. Is there a way out of it?
Yes! Break the loop with PURPOSE. And this should become your obsession- the winning card of the hiring process.
The ones that are just as obsessed as you will align with your values.

Donald, it was a pleasure listening to you!

Also, the award for the best question in the Q&A sessions goes to…
What is harder – hiring or firing?

Answer: Firing is the fault of the company. Either a failure of the screening or the failure of coaching the person to reach their potential.

The AROBS team started day 1 at Techsylvania animating the registration with Even Steven in the mix. A Monday that started with good music ended up being pretty inspiring.

See you tomorrow, we got some surprises for you!

Find out more about the event, here.

Seems like we have similar interest, so we’ll get along.

Check out our vacant spots, there might be something just for you, here.