Posts tagged with "industry"

Art by Mina Tocalini of 360 Magazine for use by 360 Magazine

Fabtech Conference 2021

By: Skyler Johnson

Coronavirus affected every single aspect of society, including factory labor. The Fabtech 2021 conference showcased the top metal forming brands in Taiwan, discussing the unique ways they were able to adapt to Covid-19. 

Mechalogix was the first company that spoke. They designed a system designed to lower labor costs through computers that actually monitor the performance of the machines and send back statistics to the operator, allowing the user to gain statistics from the strength of a saw blade to overall performance. If something needs to be replaced, the user will know, and a mechanic can be sent to the machine. But, no one needs to be watching the machines, which allows for a decrease in labor costs.

SEYI has developed a computer program that allows for users to interface with a lot of different aspects of the press, figuring out the analysis of the machine, including operation analysis and downtime analysis. Like with Mechalogix, the technology is able to send messages immediately to maintenance personnel.

Tailift has implemented a system to help in decreasing the time between taking orders and delivering products by using different web services that cut out the middleman between taking orders and delivering products, and have secured high speed internet and a strong firewall to do so. The company has also invested in technology including utilizing robot arms which help to increase efficiency and decrease maintenance costs

Da Jie is utilizing automated technology in order to avoid human cluster as a result of the pandemic, thus leading to more efficiency in production and 50% of the material being saved. SImilar to Tailift, the company uses robotic arms and other devices in order to save on cost. 

Ultimately, metal forming companies have implemented a lot of changes in order to deal with the pandemic, making their systems smarter and more efficient in the process. The pandemic has hurt everyone, but these factories were able to adapt.

Carl Lowres Benz via National Institute for the National Inventor Hall of Fame use by 360 Magazine

National Inventors Hall of Fame 2022

Several innovation pioneers whose inventions range from cataract surgery to the modern automobile will be honored as part of the latest class of National Inventors Hall of Fame® (NIHF) Inductees.

In partnership with the United States Patent and Trademark Office (USPTO), NIHF will honor these Inductees on May 5, 2022, at one of the innovation industry’s most highly anticipated events—“The Greatest Celebration of American Innovation®.”

“As a nation, we innovate and we grow. Advancing innovation and entrepreneurship is critical to the future of our country, and the National Inventors Hall of Fame Inductees inspire a culture of invention,” said Secretary of Commerce Gina M. Raimondo. “The Department of Commerce congratulates, and celebrates, NIHF’s 2022 class of Inductees.”

The Class of 2022

  • Marian Croak: VoIP (Voice over Internet Protocol) Technology

Engineer Marian Croak has worked on advancing Voice over Internet Protocol (VoIP) technologies, converting voice data into digital signals that can be easily transmitted over the internet. Her work has allowed VoIP to become a practical reality by enabling reliability and high quality. Today, VoIP technology is vital for remote work and conferencing, as well as personal communications.

Engineer and entrepreneur Lonnie Johnson is the inventor of the Super Soaker®, which became a best-selling toy generating well over $1 billion in sales over its lifetime. Johnson’s longtime research focuses on energy technology, and his work today includes advances in rechargeable battery technology and thermodynamic technology to convert thermal energy to electrical energy.

  • Katalin Karikó and Dr. Drew Weissman: Modified mRNA Technology Used in COVID-19 Vaccines

Fundamental research by biochemist Katalin Karikó and immunologist Drew Weissman laid a critical piece of the foundation for the mRNA COVID-19 vaccines developed by Pfizer-BioNTech and Moderna. The mRNA vaccines have been crucial in the fight against the COVID-19 respiratory disease caused by SARS-CoV 2, a new coronavirus discovered in 2019. Nearly 1 billion mRNA vaccine doses have been administered worldwide since December 2020.

Ophthalmologist Patricia Bath invented a new device and technique to remove cataracts known as laserphaco. Different than phacoemulsification that uses ultrasound, it could perform all steps of cataract removal, including making the surgical incision, destroying the lens and vacuuming out the fractured pieces.

German engineer Carl Benz was the first to design a car around the internal combustion engine rather than adding an engine to an existing wagon or carriage, a critical insight in auto evolution. By integrating the engine, chassis and drive into a single entity, Benz set the standard for all future automotive design and engineering.

James Buchanan Eads created a series of inventions during the 1800s that improved transportation and the military defense of the Mississippi River region. His widespread innovations were crucial to river salvage, the success of the Union Navy during the Civil War, and infrastructure and engineering that enabled major advances in commerce.

These seven innovators join the 22 NIHF Inductees announced in 2020, as all 29 will be honored as the class of 2022 at the Annual National Inventors Hall of Fame Induction Ceremony. The Inductees announced in 2020 include:

For biographies of each Inductee, click HERE

The Celebration

The 29 Inductees in the class of 2022 will be honored at “The Greatest Celebration of American Innovation,” held in our nation’s capital. Danica McKellar — star of the TV show “The Wonder Years,” Hallmark Channel regular, and author of New York Times bestselling “McKellar Math” books — will serve as master of ceremonies.

  • May 4 – Illumination Ceremony at the National Inventors Hall of Fame Museum at the USPTO Headquarters in Alexandria, Virginia, where new Inductees will place their names on illuminated hexagons in the museum’s Gallery of Icons.
  • May 5 – The 2022 National Inventors Hall of Fame Induction Ceremony will be held at The Anthem in Washington, D.C., where the new Inductee class will be honored for its contributions to society during an evening event including a black-tie dinner and ceremony. To learn more about the event, click HERE

“The National Inventors Hall of Fame Induction Ceremony truly is ‘The Greatest Celebration of American Innovation’ — focusing on the brilliance of inventors, the excitement of invention and the incredible benefits they bring to society,” said Andrew Hirshfeld, Commissioner for Patents and performing the functions and duties of the Under Secretary of Commerce for Intellectual Property and Director of the USPTO. “The USPTO is proud to honor these innovators whose inventions have fundamentally changed our lives.”

“Innovation drives the worldwide economy forward and improves our quality of life. This is especially apparent given what we have experienced over the past 18 months. It’s why at the National Inventors Hall of Fame we are privileged to honor our country’s most significant inventors, who are giving the next generation the inspiration to innovate, create, and solve current and future problems,” said NIHF CEO Michael Oister.

Sponsors of the National Inventors Hall of Fame Induction Ceremony include the USPTO, Qualcomm, PhRMA and Walgreens Boots Alliance. 

About the National Inventors Hall of Fame

The National Inventors Hall of Fame (NIHF) is the premier nonprofit organization in America dedicated to recognizing inventors and invention, promoting creativity, and advancing the spirit of innovation and entrepreneurship. Founded in 1973 in partnership with the United States Patent and Trademark Office, NIHF is committed to not only honoring the individuals whose inventions have made the world a better place, but to ensuring American ingenuity continues to thrive in the hands of coming generations through its national, hands-on educational programming and collegiate competitions focused on the exploration of science, technology, engineering and mathematics. Explore the NIHF Museum digitally in Google Arts & Culture’s “Once Upon a Try” project. For more information, click HERE.

Cannabis illustration for 360 magazine

Kevin Durant Partners with WeedMaps

Weedmaps Announces Multi-Year Partnership with Kevin Durant, Thirty Five Ventures, and Boardroom

Partnership inclusive of collaborative content aimed to combat misconceptions around cannabis and advocate for legalization

Weedmaps, a leading technology platform for cannabis consumers and businesses, announced today a multi-year agreement with Kevin Durant and Thirty Five Ventures as well as a sponsorship deal with Boardroom. As part of Weedmaps’ mission to power a transparent and inclusive global cannabis economy, this strategic partnership will aim to further deconstruct the negative stereotypes associated with cannabis while elevating the conversation around the plant’s potential for athlete wellness and recovery.

Now more than ever, there is so much opportunity for growth in the cannabis industry as well as the removal of any remaining stigmas around its use, said Kevin Durant, two-time NBA champion and president of Thirty Five Ventures. As the technology leader in the industry, Weedmaps has consistently been at the forefront of change over the last decade. In partnering with Boardroom and Thirty Five Ventures, they’ve shown an even bigger commitment to innovation.

Weedmaps will become an official sponsor of Thirty Five Ventures’ sports business media network, Boardroom, as part of the agreement. Available today, the latest episode of Boardroom’s Out of Office podcast brings together Rich Kleiman, Kevin Durant, and Weedmaps CEO Chris Beals to discuss the potential for the strategic partnership’s long-term impact across the industry, as well as the many challenges ahead that we must address as the country moves closer toward legalization.

As the largest technology provider in the sector, we are serious about our responsibility to lead the national discussion around cannabis and the need for cannabis regulations to be updated across the board, said Chris Beals, Chief Executive Officer of Weedmaps. This partnership with Kevin Durant, Rich Kleiman, and the team at Thirty Five Ventures is a pivotal step forward in our ongoing efforts to break down stigmas surrounding cannabis, especially in the sports industry.

In addition to its sponsorship agreement, Boardroom will collaborate with Weedmaps to produce an original content series, which is tentatively slated for debut in 2022. The multi-year agreement also comprises ongoing integrations with Boardroom, including: Out of Office podcast, development and distribution of original content, co-branded collaborations and events, exclusive merchandise, and more.

Part of Weedmaps’ broader sports and wellness initiative, the company’s partnership with Thirty Five Ventures aims to further educate consumers about the plant’s potential for wellness and recovery. For information about how cannabis affects the body, cannabis products used by some of today’s biggest names in sports, and more, visit their website. Check out the latest episode of Boardroom’s Out of Office podcast here, and for more on Boardroom, visit the website.

About Weedmaps

Weedmaps is a leading online marketplace for cannabis users and businesses, operated by WM Technology, Inc. WM Technology, Inc.’s (Nasdaq: MAPS) mission is to power a transparent and inclusive global cannabis economy. Now in its second decade, WM Technology has been a driving force behind much of the legislative change we’ve seen in the past 10 years.

Founded in 2008, WM Technology is a leading technology and software infrastructure provider to the cannabis industry, comprising a B2C platform, Weedmaps, and B2B software, WM Business. The cloud-based SaaS solutions from WM Business provide an end-to-end operating system for cannabis retailers. WM Business’ tools support compliance with the complex, disparate, and constantly evolving regulations applicable to the cannabis industry. Through its website and mobile apps, WM Technology provides consumers with the latest information about cannabis retailers, brands, and products, facilitating product discovery and driving engagement with our retail and brand customers.

WM Technology holds a strong belief in the power of cannabis and the importance of enabling safe, legal access to consumers worldwide. Since inception, WM Technology has worked tirelessly, not only to become the most comprehensive platform for consumers, but to build the software solutions that power businesses compliantly in the space, to advocate for legalization, social equity, and licensing in many jurisdictions, and to facilitate further learning through partnering with subject matter experts on providing detailed, accurate information about the plant.

Headquartered in Irvine, California, WM Technology supports remote work for all eligible employees. Visit Weedmaps here.

About Thirty Five Ventures

Co-founded by 2x NBA champion Kevin Durant and entrepreneur Rich Kleiman, Thirty Five Ventures includes the sports business media network Boardroom; an investment portfolio with over 70+ companies, including Acorns, Coinbase, Dutchie, Overtime, Dapper Labs/NBA Top Shot, Postmates, Goldin Auctions, and more; a film/TV arm with projects including the documentary series In the Water (SHOWTIME), the Academy Award-winning Two Distant Strangers (Netflix), and the upcoming scripted series SWAGGER (Apple); equity partnerships with premium audio brand Master & Dynamic and digital media network Just Women’s Sports; a minority stake in the Philadelphia Union; and management of Kevin Durant’s on-and-off court business

About Boardroom

Boardroom is a media network founded by Kevin Durant and Rich Kleiman that looks inside the business of sports as we’ve never seen. The old days of gate-keeping and closed-door meetings are gone: now, athletes, tech moguls, and executives alike are moving the sports world – and culture itself – forward. Boardroom is at the forefront of this change, bringing both fans and entrepreneurs unique perspectives on the sports business news, hot topics, and key industry players they want to know about. Boardroom is a Thirty Five Ventures company.

Heather Skovlund computer illustration for use by 360 Magazine

CSR In The Digital Age: With 360 Magazine

By: Kai Yeo

“We’re all connected through culture. Basically, we all must learn to adapt. We learn more through traveling and seeing more. When you’re in a different environment, everybody must love and laugh and dance. I don’t need to know your language. But companies need to focus on connecting everyone through love, not war.” – Vaughn Lowery

Corporate Social Responsibility (CSR) has been around for years, with its’ roots being found as early as the 18th Century. In my CSR research assignment before, I wrote that “the key idea of CSR is for companies to pursue pro-social objectives and promote volunteerism among employees (such as through donating to charity and participating in volunteer work), as well as by minimizing environmental externalities.” As an international student trying to find my career path in the United States, I find that company CSR is one of the first few things I look for when finding a suitable company to work with: how genuine they are and how much they care for their employees. The process of researching and writing my essay on CSR in the modern day and CSR within my internship site provided me with the valuable opportunity not only to learn about an important business topic, but also allowed me to develop a better understanding of what it is.

For my CSR Interview, I got the opportunity to speak on the phone with my supervisor Vaughn Lowery. His career started from “humble beginnings in Detroit to a full scholarship in Cornell University under the ILR program. From there, he became active in modeling, acting, and producing screenplays.” Now, Vaughn is the publisher and founder of leading fashion and lifestyle magazine, 360 Magazine, which is also my internship site. His job involves fostering relationships within the community and being an editorial director that curates and oversees content for all columns of the magazine. The position also entails making sure that Apple News, LinkedIn, Twitter, and all other news sites are updated. As a pop culture and design magazine, it is important to constantly be up to date with relevant content and breaking news. Being a quarterly publication, 360 is also working on their summer magazine issue. Vaughn mentions that with COVID making everything digital, the team has been working on expanding the business: creating a self-publishing division, developing e-commerce, getting sponsors, and most importantly, waiting for things to start opening back up.

With a background in studying business and company culture, Vaughn says that his education helped him design a company culture that made sense, “Transparency, cool kids, intelligence. I wanted a space for comfort regardless of race, age, and religion. Education was not the answer to my business but a part of the process to help with preparing for my magazine. The most important thing is life experiences, there are no books on it.” Vaughn emphasizes sending people in his company for events and communicating with clientele because “you can’t speak about things you don’t know.” COVID has made jobs in the media a little more mundane, but he’s excited about things opening back up and is hopeful for the future. Without in-person experiences, it is hard to understand the inner workings of media companies with everything being digitally produced.

Vaughn defines Corporate Social Responsibility at 360 Magazine as “having an environment that is inviting and inclusive, especially showcasing inclusivity.” As a magazine that promotes culture and lifestyle, it is important that everyone he works with is aware of what is going on in the world that we live in and what is happening with minority populations. He speaks about being the only African American in a lot of his school and work experiences, and he created 360 with the ideal of having more minorities and women working in his company: “We all live in the same world… and some people don’t know that. But we need representation and for people to see us. It’s not on us to educate them, but it’s on us to speak up.” 360 avidly speaks up for diversity (#metoo) and openly supports nonprofit organizations.

When asked about how veritable he thinks big companies are with CSR movements, he says that they’re doing it for a myriad of reasons. Companies get away with more stuff as a corporation, “But the responsibility is about being genuine. The board of directors and Zoom calls and the whole spiel. If they’re trying to just make money, revenue principals are not true to themselves. 360 was founded on real culture. The diversity is important. It is what it is.”

“Your company diversity is a reflection of the world, we’ve been doing this since the start of 360, we’ve been ahead of the trend.” The magazine has always featured drag queens, people who are transgender, and minorities, “This is very important when doing events and stuff, it’s a big family. We have less than 50 people. And it’s important for our clients to know that we have each other and rely on each other. That we know how to respect one another and appreciate each other, despite all odds.” Vaughn believes that diversity and inclusion of people of color has always been important, and he emphasizes that 360 will keep pushing these agendas and morals as long as he’s the head of the company. I see this in his effort to get everyone together (even if it is just on Zoom for now) to celebrate big articles, book releases, sponsorships, and so on.

As I type this interview essay, I find two key points to really reflect on: 1) assumptions about company morale and 2) why diversity is so important to me.

1) I think back on everyone else I’ve spoken to during my time as an intern here with 360, and I find that these core values that Vaughn spoke about with me are reflected in all the conversations I’ve had with him and other employees. Coming from a very structured, patriarchal Asian background, I came into this internship thinking that it would be like all my previous experiences (they talk of diversity, but it’s never really executed once you’re a part of it – school projects, internships, part-time jobs, and so on). However, no one in the company has been curt or condescending when speaking with me, and they truly mean it when they point out mistakes and gently correct me. Maybe it is because of the way I was brought up, or the environment I was most familiar in, but these good intentions had me on my toes for the first couple weeks I was here, and I’m honestly still getting used to it.

2) With the rise of Asian hate crimes in the past year, I find myself turning very reclusive and immediately trying to find fault with people when something brushes me the wrong way (though sometimes it really is a racist comment or remark). It’s been difficult having to correct people when they say my name wrong or trying to explain my culture when these simple things can so easily be looked up online. I’ve been very lucky growing up well-traveled and seeing different parts of the world, and I understand that not everyone has that privilege, but how far does “I don’t know” get you in the digital age? I need to work in a company where people are willing to learn and grow new perspectives, and I see this quality in Vaughn too as he speaks about his loneliness as the only African American in his industry when he was first starting out.

After 45 minutes of talking about diversity and the whole CSR conversation winding down, Vaughn tells me to keep doing what I love, “Understanding the industry through work experiences is how you’ll get in. It’s constantly changing.” He talks about learning to forecast and foreshadow and having connections at arms’ reach. By the end of our conversation, I felt that I learnt a lot and could have a clearer vision of what I wanted out of this internship. I’ve had the opportunities to go for company events (for brands including Lillet, Chinese Laundry, Rockstar Original, etc.), though I would really like to be able to go to a CSR event in the near future to promote these same values that I share with 360 Magazine.

To read more about Vaughn Lowery, please visit his Wikipedia and IMBD.

Marijuana illustration by Heather Skovlund for 360 Magazine

Dodi Blunts × Last Prisoner Project – Apprenticeship Program for Justice-Impacted Individuals

Dodi Blunts and Last Prisoner Project (LPP) are excited to announce the Dodi Blunts/Last Prisoner Project Apprenticeship Program. This program is designed to help LPP constituents take their first step back into working society and offers them the mentoring, training and hands-on experience needed for a career in the cannabis industry. For 90 days, the apprentice will work with Dodi Blunts, gaining valuable experience and industry connections needed for a flourishing career in cannabis.

“Having a cannabis felony on your record makes it very hard to earn gainful employment,” said Jeff Goldenberg, Co-Founder of 2nd and Goal Ventures, the company behind Dodi Blunts, “Helping LPP constituents gain a foothold in the cannabis industry makes a ton of sense, given what the industry has taken from the community.”

The program starts in consultation with the apprentice – to determine their skills sets, experiences and interests – and determine an area of focus. The apprentice is also rotated through several different areas and functions to gain a wide variety of experience. Finally, once the program is successfully completed, the apprentice will continue their employment with Dodi or another company in the cannabis industry.

The apprenticeship program is the first initiative between Dodi Blunts and Last Prisoner Project since the launch of Dodi in April. Dodi Blunts is the brand of former NFL superstar Marshawn Lynch, who recently signed on to become a Last Prisoner Project Ambassador. The two organizations have plans for many more initiatives over the coming year.

Last Prisoner Project is not just talking about second chances but really being about it. It only makes sense that those affected by their cannabis past have a chance to let it play a part of their futures too,” said Marshawn Lynch.

“We are beyond excited to team up with Dodi Blunts in this way,” said Last Prisoner Project Managing Director Mary Bailey. “It’s so important that these justice-impacted individuals are given a path forward and Dodi has really stepped up to the plate in a way that we at Last Prisoner Project are so appreciative of and we hope other cannabis companies will follow suit.”

The first apprentice under the new program is Katree Saunders who, in 2011, was convicted on federal charges of possession and intent to distribute cannabis during a federal effort to crack down on Nevada marijuana dispensary operators before retail sale of weed was legalized in the state. Almost a decade later, she’s still working to rebuild her life.

“Being the first LPP constituent in the program, I am excited and thankful at the same time,” said Katree Saunders. “This opportunity with Marshawn and the Dodi brand means a lot to me after being a justice-impacted individual. Having recently graduated Columbia Business School for Entrepreneurship and being accepted to the apprenticeship program, I feel like I can be a shining example of what is possible after being affected by the collateral damage of this failed War on Drugs. It’s the chance to be resilient, while making a positive impact on the community. Just because you have been formerly incarcerated, doesn’t mean you have no goals or dreams you would like to accomplish. It has given me inspiration.”

About Last Prisoner Project:

The Last Prisoner Project (LPP) is a non-profit organization dedicated to cannabis-related criminal justice reform. As the United States moves away from the criminalization of cannabis, giving rise to a major new industry, there remains the fundamental injustice inflicted upon those who have suffered under America’s unjust policy of cannabis prohibition. Through intervention, advocacy, and awareness campaigns, the Last Prisoner Project works to redress the past and continuing harms of these inhumane and ineffective laws and policies. Visit the Last Prisoner Project Website or text FREEDOM to 24365 to donate and learn more.

About Dodi Blunts:

Dodi Blunts invites fans to unite their love for sports and cannabis through high quality, high potency cannabis products, that elevate communities, support social equity issues and represent the Bay Area vibe. The brand is the brainchild of NFL superstar Marshawn “BeastMode” Lynch who professes to “having a love-love relationship with Dodi.” Dodi aims to provide the most innovative, highest potency products while exporting Oakland weed and strains to the rest of the state and the world. Dodi isn’t just a weed brand – it’s a community, a vibe and a revolution. Learn more by visiting Dodi Blunts.

Cryptocurrency by Heather Skovlund for 360 Magazine

Bitcoin miners generate $1.4 billion despite 36% BTC slump

Bitcoin miners generate $1.4 billion in May’s revenue despite 36% BTC slump

With bitcoin experiencing a price correction of almost 50% in May from the all-time high, mining revenue was expected to take a significant hit. However, contrary to expectations, the revenue has shown resilience.

Data acquired by Finbold indicates that bitcoin miners earned $1.45 billion in May, dropping only 15.01% from the April figure of $1.7 billion. The revenue dropped slightly considering bitcoin suffered a significant price correction of about 36% in May. Between March and April, the revenue slightly plunged 2.5% from $1.75 billion to $1.7 billion.

Over the last three months, the highest daily bitcoin mining revenue was on April 15th at $77 million. The lowest returns were recorded on May 29th at $26 million.

Continued crackdown likely to impact bitcoin mining revenue

In May bitcoin faced increased scrutiny over the carbon footprint debate, something that was expected to significantly impact mining revenue. According to the research report:

“The bitcoin mining revenue is encouraging considering that the industry has witnessed a decline in profitability over recent years. However, with the regulatory crackdown on mining, the industry risks slowing down on revenue since large-scale miners are mostly targeted by authorities.”

The focus on bitcoin’s energy consumption can potentially lower the interest from institutional investors who want to meet the needs of environmentally cautious investors. However, the emergence of renewable energy sources might tilt the tide. The research report notes that:

“With the increased focus on renewable energy for bitcoin mining, the asset might attract more institutions potentially sparking an increase in value and consequently the mining revenue.”

Regions like North America are taking the lead aiming to establish a bitcoin mining hub that relies on renewable energy.

Read the full story with statistics here.

Art by Mina Tocalini for use by 360 Magazine

Cruise Industry Declines Following Pandemic

Cruise Industry to Generate $6.6B in Revenue in 2021, Almost Five Times Less than in 2019

The COVID-19 had a devastating impact on the global cruise industry, with cruise lines practically disappearing after the pandemic hit and all operators witnessing double-digit sales drop.

However, it seems that 2021 might bring a new hit to the sector, which is already on its knees. According to data presented by StockApps, the entire cruise industry is expected to generate $6.6bn in revenue in 2021, almost five times less than in 2019.

Confidence in the Cruise Lines Plummeted Amid Pandemic, The Number of Users Down by 76% in Two Years

When the COVID-19 hit, cruise ships immediately suffered high infection rates among passengers and crew. Thousands of people were stranded on board, spending months in quarantine. By the end of April 2020, more than 50 cruise ships confirmed hundreds of COVID-19 cases. It didn’t take long for cruises to be depicted as places of danger and infection.

In 2019, the entire cruise industry generated $27.4bn in revenue, revealed the Statista data. After the pandemic struck, revenues plummeted by 88% in a year to $3.3bn in 2020. Although this figure is expected to almost double and hit $6.6bn in 2021, it still represents a massive 77% drop compared to pre-COVID-19 levels.

Statista data indicate it will take years for the cruise industry to recover from the effects of the COVID-19 pandemic. By 2023, revenues are projected to reach $25.1bn, still $2.3bn less than in 2019. In 2024, cruise line revenues are expected to rise to over $30bn.

As people lost confidence in the entire cruise industry amid the pandemic, the number of cruise line users plunged to the deepest level in years. In 2019, almost 29 million people worldwide had chosen cruise lines for their vacation. Last year, this figure dipped to 3.4 million. Although the number of cruise line users is forecast to recover to 6.7 million in 2021, it still represents a massive 76% drop in two years.

Combined Revenues of Top Five Cruise Markets Still $16B Under Pre-COVID-19 Levels

The Statista survey revealed that, despite a $10.24bn revenue drop in 2020, the global cruise giant Carnival Corporation remained the largest player in the market with a 45% market share in 2021. Royal Caribbean Cruises ranked second with a 25% share. Norwegian Cruise Line and MSC Cruises follow, with 15% and 5% share, respectively.

Analyzed by geography, the United States represents the world’s largest cruise industry, expected to generate around $2.8bn in revenue this year, 78% less than in 2019.

Revenues of the German cruise line market, the second-largest globally, are expected to hit $830 million in 2021, compared to $2.8bn before the pandemic struck. The UK’s cruise companies are forecast to generate $650 million in revenue, down from $2.4bn two years ago. Chinese and Italian markets follow, with $570 million and $218 million in revenue, respectively.

Statistics show that combined revenues of the world’s five largest cruise markets are expected to amount to over $5bn in 2021 or $16bn less than in 2019.

The full story can be read here at StockApps’ website.

Art courtesy of 360 Magazine for use by 360 Magazine

Georgia Tech Wins Entrepreneurship Competition

Georgia Tech Team Wins at Global College Entrepreneur Pitch Competition

Insight Optics, from the Georgia Institute of Technology, won third place at the Third Annual TiE University Global Pitch Competition held on May 15-16, 2021.

Representing TiE Atlanta, the Insight Optics team consists of Dr. Aaron Enten and TJ Lagrow. Their business venture delivers a mobile-adapted platform which enables primary care physicians to efficiently detect early signs of avoidable blindness before permanent damage is done. The team was mentored by Greg Cory, Neeti Dewan and Eric Ensor from TiE Atlanta.

The team received a $5,000 cash prize sponsored by the Naadam Foundation, and a $4,000 grant from the REAN Foundation. Insight Optics was “best in class” at the Startup Bootcamp hosted by TiE Silicon Valley in early May.

Insight Optics competed with 27 winning teams from across the globe including teams from TIE Chapters in seven countries across three continents. The teams were mentored by local TiE chapters and supported by global workshops, startup bootcamps and mock sessions. There were 526 startup teams with 1432 students that participated in local TiE chapter college competition rounds.

First prize went to TiE Toronto’s ALT TEX whose founders are from York University and the University of Toronto.  Their venture focuses on sustainable textiles engineered from food waste by tackling two serious issues — food waste and the high levels of pollution caused by the fashion industry.

The second prize winner was TiE Dallas’ SURVIVR whose founder is from the University of Texas at Dallas.  The company aims to make communities safer by providing immersive and humanized police training using virtual reality.

Chapter winners went through a semifinal round on May 15. The virtual event was viewed by over 500 audience members from around the world, and TiE Atlanta’s executive director, Amyn Sadruddin, was instrumental as the MC for a semifinals track.  Worldwide teams pitched diverse business ideas such as bio-toilets, career fulfillment tools for higher education, technology-enabled artificial limbs, and tech kits for 21st century education, among others.

The event also featured a fireside conversation between Prof. Jagdish Sheth from Emory University in Atlanta and Mr. Ronnie Screwvala of Mumbai. The co-founder and chairman of Upgrad, an online edtech startup, Mr. Screwvala inspired young entrepreneurs to take risks.  His book “Dream With Your Eyes Open” is a commitment to champion entrepreneurship and learn from failure.

This year, TiE University extended the concept of entrepreneurship to form a stronger ecosystem, even more strategically focused to dovetail multiple enablers, said Dr. Paul Lopez, Founder and Co-Chair of the TiE University Program. Thanks to the generosity of sponsors, this year’s total cash prizes were $65,000, plus in-kind awards of over $600,000 to empower college entrepreneurs.

Eight university teams made it to the finals of the global pitch fest.  In addition to the top three winning teams, the other finalists were TiE Austin’s Clocr, a digital legacy management and emergency planning platform; TiE Chennai’s Kitab, a digital PDF-Reader that redefines the way technical literature and textbooks are consumed; TiE Dubai’s Small World that connects NGOs and high school students; TiE DC’s Early Intervention Systems that builds software and algorithms to enhance elder-care; and TiE New Jersey’s Sulis, a low-cost water sanitization device.

The keynote speaker on Finals Day was Sheel Tyle, Founder/CEO of venture capital global firm Amplo. Interviewed by TiE Coimbatore’s Pradeep Yuvaraj, Tyle has some advice for entrepreneurs, Whether you spend time doing something small or doing something big, it actually takes the same time. If you’re going to spend your precious time on something, do it where your time has the greatest impact on the world.

About the TIE University Program

TiE University, an initiative of TIE Global, aims to foster entrepreneurship among college students. University startup teams gain access to learning resources, mentorship by successful entrepreneurs and opportunities to participate in Hackathons, Startup Bootcamps, and Pitch Competitions. These interactions and experiences help startups take their business from a campus idea into a viable business.

About TiE Atlanta

TiE Atlanta is a top five chapter of TiE Global, a nonprofit consisting of 61 chapters in 14 countries, that generates prosperity through development of entrepreneurs in all stages by creating community and beneficial relationships to support them. TiE Atlanta develops entrepreneurs and startups through mentoring, education, investment, and networking. Learn more at their website.

Piso 21 illustration by Heather Skovlund for 360 Magazine

Piso 21

“From Colombia to the world. I think we are in such a beautiful time that Colombia is shining for good reasons… Maluma, J Balvin, Karol G, Camilo, Greeicy, Us… it is an example of what we represent.”Lorduy

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Chaos Ignites Agility Illustration by Heather Skovlund for 360 Magazine

Chaos Ignites Agility

2020 exposed the collapse of standardization. We are rapidly moving away from an era defined by outdated standards that held people to conformity and limited their creativity—to today’s new era of personalization that honors one’s individual contributions and embraces fresh ideas and ideals,” said Glenn Llopis, president of GLLG, a leadership and business strategy consulting firm that authored a new report available today: CHAOS IGNITES AGILITY (download full report).

CHAOS IGNITES AGILITY captures the most intimate and disruptive insights from 46 executives across healthcare, corporate, and education. These leaders came together virtually for three days last October to share how they are working to restore individual dignity in how they serve patients, customers, employees, and students to thrive in a post-pandemic reality.

Themes emerged across the sectors, as doctors, professors, executives, deans, and presidents got real about how they have been adapting throughout the challenges and unpredictability of 2020. They collectively zeroed in on these major challenges and opportunities:

  • How to put patients, employees, and students at the center – to activate individual capacity.
  • How to lead through industry transformation when there’s so much uncertainty.
  • How to pursue and employ inclusion as a growth strategy going forward.

This riveting video tells the story.

Organizations represented in CHAOS IGNITES AGILITY include:

Healthcare:

  • CVS Health, Mount Sinai Health System, Anthem, Cancer Treatment Centers of America, Woman’s Hospital, Lenovo Health, Keck Medicine of USC, City of Hope Cancer Medical Center, and American Association of Critical-Care Nurses

Corporate:

  • Starbucks, Microsoft, Twitter, ViacomCBS, Mitsubishi Motors North America, Cost Plus World Market, Chico’s FAS, Inc., RBC Capital Markets, Farmers Insurance, H&R Block, Lyft, and Banfield Pet Hospital

Higher Education:

  • Clemson University, College of Business, Google, USC Marshall School of Business, Drake University, The Eagle Academy Foundation, Fairfield University, Lynchburg, College of Business, University of Washington, Bothell, University of South Florida, College of Business, California State University, Stanislaus, and Metropolitan Community College

Learn more at Age of Personalization.