Adventure

2015, in Review

What a year! I have had some incredible professional and personal experiences in 2015 and I thought I would share a few of my favorites:

  • At MasterCard, we launched several new API services for a variety of customer segments.
  • We launched Masters of Code, a global hackathon competition from MasterCard that enabled us to work with some of the best software developers in the world.
  • We focused on expanding our customer base globally and ensuring that our global growth was sustainable through the creation of a decentralized process. This allowed me to work with some incredible technologists and organizations all over the world.
  • We launched the first ever global internal hackathon at MasterCard in which more than 5% of the entire company participated.
  • We worked with highly skilled and creative NYC developers at events such as the NYC FinTech Hackathon, TechCrunch Disrupt Hackathon (at which a group of MasterCard developers won third place overall) and with Cornell Tech students at an internal event.
  • We facilitated Commerce Forum meetups in MasterCard’s NYC Tech Hub, bringing in a variety of speakers to talk about what’s happening in the commerce industry. This was in addition to our NYC involvement in great organizations such as the NY FinTech Meetup and the NYC TechDay.
  • I had the opportunity to represent MasterCard at fairly large events in the community this year, including an Inter-American Development Bank event, Front End of Innovation, AnDevCon, and more.
  • I was honored to be a formal mentor for a variety of organizations this year including XRC Labs, Techstars, Startupbootcamp, AngelHack Hackcelerator, and NYC Generation Tech.
  • I had a (short) conversation with and was retweeted by pmarca.
  • We closed out a successful year for Ignite Stamford (and will have relevant news on the organization soon).
  • I have continued to serve on my city’s legislative board and with my colleagues have continued to improve our community.
  • I was very excited to attend tapings of new talk shows that launched in 2015 including Seth Meyers, Trevor Noah, David Letterman and Stephen Colbert.
  • I attended some games including those of the Yankees, the Red Sox and the UConn Huskies. I’m a fan of two out of those three – I’ll let you guess.
  • I attended a few concerts, my favorite of which was U2 at Madison Square Garden.
  • I saw the new Star Wars movie. Multiple times.
  • I am always trying to learn new things, so I took some time to study the fundamentals of quantum entanglement, machine learning, cloud architecture and venture capital.
  • I became engaged to an intelligent and loving woman.

Here’s to a great 2016!
CUGfCuTWUAATku9

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Technology

Evolving the In-Store Experience

This past weekend, the first Masters of Code (MoC) hackathon took place in Sydney, Australia. It was an exciting event with some terrific teams creating great solutions. Each MoC event has a theme and this one was focused on enhancing the mobile retail experience “in-aisle.” One of my favorite teams built a connected shelf that, using a weight and measurement system, could tell which items were being placed on it, provide contextual related product recommendations and complete payment for that item through an app. The experience was seamless and removed the burden of “payments” from consumers.

A couple of years ago I wrote about the Future of Retail, in which I discussed the transition from current consumer experiences in-store to seamless, and in some cases invisible, ones. This is a trend that I expect will continue. Lately, I have thought a lot about the future needs of retail, and there are direct and related areas we should keep an eye on:

Easy Application Development

According to Multichannel Merchant, more than 75% of retail merchants do not offer their customers an app. I strongly suspect that this will change, so tools that allow a merchant to efficiently build a secure, scalable application will continue to be useful.

Wearables and Mobile

Consumers that walk around in-store are using their phones (and now and in the future their wearables) to search for product reviews, look at alternative pricing, etc. While the evolution of hardware will continue continue, the interaction of that hardware with a retail environment though digital mediums is a great opportunity. Payments, loyalty, information – many areas are ripe for enhancement with the consumer use of mobile technology.

Energy and Internet

Just as consumers are using more mobile devices in store, retail has differing infrastructure needs. Whether it be reliable and scalable wireless capacity or the advent of wireless power for devices (and I’m not talking about inductive charging), there are many infrastructure requirements for a great retail experience.

Delivery

There has been a relatively new development of what some have termed the “on-demand economy.” It is becoming experientially important for merchants to provide goods in a rapid fashion. Originally this started with online merchants providing same-day delivery, but now retail stores are differentiating themselves by allowing customers to have the in-store experience of shopping and payment without the hassle of having to bring their purchased items home themselves, instead having those items delivered to the proper shipping location.

Loyalty and Marketing

One of the biggest costs (and in many cases, sunk cost) that in-store merchants incur is putting in the time and effort to get a potential customer in the door only to have that customer leave empty handed. Tools that improve customer acquisition and retention for the real-world will continue to be needed.

Supply Chain Management

Trade and commerce is becoming even more global. Manufacturers and merchants will need improved systems that provide real-time (or close to it) data on goods being transported and shipped. SMBs need better quality information to make smarter inventory supply decisions.

Personalization

A personalized experience is often a more effective one and the in-store experience is no exception. The delivery of this personalized experience doesn’t necessarily need to be digital, either, but it does require structured data in order to deliver something effective to the consumer.

Digital Security

There are two immediate opportunities in my mind that merchants can do to make sure their digital infrastructure is more secure: ensure that servers are in fact secure through multi-factor authentication and compartmentalization of data and environments, and begin to tokenize data (in addition to payments) to ensure that if a compartment is indeed compromised, that information is useless to unauthorized individuals or systems.

Payments

As I wrote previously, from a consumer experience perspective, payments needs to disappear (though much of what happens in payments is invisible to consumers already). The Apple Store’s and the Covers of the world do it terrifically. Through the convergence of digital and physical platforms, we can expect seamless and secure payments experiences.

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Community, Leadership, Technology

Introducing the Commerce Forum

I am very excited to announce the launch and first event of the Commerce Forum. I am very thankful for MasterCard’s willingness to support this initiative.

There are many events in NYC that focus on products, often in demo day fashion. There are a few events with panel discussions focusing on general topics such as data or NoSQL. There are very few meetups, if any, that focus on individuals. My hope is that during these events, we will better understand the people who work in the wide field of commerce. It’s time for a different type of meetup – I hope you will join me for it.

The first event is planned for mid-January. Be sure to join the group to be eligible for a ticket!

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Community, Entrepreneurship, Leadership

Building a Corporate Culture

IMG_1249MasterCard opened an office in Manhattan this year. It’s not a bad space for a reinventing tech company. Right now we are in a temporary space which offers terrific views of downtown and both sides of the island (see pictures courtesy of my iPhone). The office is software and “innovation” focused – the teams in this office are working on cutting edge and/or high priority products and platforms, identical in mission to the final office that is scheduled to open before the end of the year.

One of the neat things about helping open a new space is that I have the opportunity to help shape the culture of the office. It is a unique opportunity normally reserved for organization founders or early members/employees. It is slightly different from a startup in that we are not just creating something from scratch or from previous experiences – we are creating a branch of an existing corporate culture. So how have we begun to do this? Two simple changes have made a significant difference:

IMG_1273The permanent space is open desk style, but even our temporary space is more open and clustered. This has lead to more conversations among employees in the office, which has helped break down any barriers that may have existed between technology and product teams. Collaboration has greatly increased among employees, even for projects not included in core responsibilities.

The office dress code is startup casual, though we certainly have some stragglers from headquarters who work in dress pants. For the most part, casual dress has lead to a less stressful environment. My hypothesis is that employees are more efficient if they are as comfortable as possible in their work environment. Anecdotally, the results in the office seem to support this.

We are in phase one of this cultural transformation, and I will certainly be writing more about it as we continue to build this office. Any tips or tricks to building a great work culture? Tweet at me with #culture, and let me know!

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Community, Entrepreneurship, Technology

Technology / Government / Data

No, not that kind of technology. This week, the legislative committee I chair in Stamford kicked off what I hope will be an ongoing conversation about the use of technology and data in our government. It is very exciting to think about the opportunities that are available to not only improve the quality of life for many in the city, but also increase the operational efficiency of how the city operates. Stamford also has the potential to be on the leading edge of not just opening up data for viewing, but enabling the use of data through APIs. Our ability to make these long-term investments takes more than just a wish, and I look forward to working with local, state, and private officials to see Stamford become a true “smart city.”

It has been fantastic for me to view these opportunities from both a government and private sector perspective. I am very thankful for the opportunities I have been given to learn as much as I have. I hope it will serve me well in the future, as AOL co-founder Steve Case predicts. Too often, we see governments in the United States (and perhaps elsewhere) trying to shape technological solutions to their purported needs rather than being adaptive to the rapid evolution of available solutions. Part of the reason for this is the embedded process of these types of institutions (ie bureaucracy), but that doesn’t mean our governments can’t be a little more agile; it just takes some evolving of their own.

How would you like to see cities effectively use technology and data? Tweet at me with #SmartCity to let me know!

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Community, Entrepreneurship, Leadership

Inverse(STEM) – What Happened to Well-Rounded?

For a few years now, some of the most notable technology executives have impressed upon today’s youth the importance of learning to code and the importance of STEM. Even President Obama jumped on the bandwagon in 2013. When I served on the board of the University of Connecticut, we worked with our Governor to launch a new operational and capital investment initiative by the state called NextGen Connecticut. The focus of this initiative, as you can read about, was additional STEM faculty, facilities and programs. STEM initiatives, in general, are good for the long-term health of our businesses and society as long as they are not created through or with the debilitation of other initiatives. It is that last part I’m a little worried about.

Dave McClure and the 500 Startups team, who are doing tremendous work globally in entrepreneurship communities, focus on finding great companies that have three key team ingredients, succinctly called “H2D”: a hacker (software developer), a hustler (sales/business development), and a designer (product architect/humanist). This team formula can create fantastic results, as we’ve seen from many of their portfolio companies. Yet STEM only focuses on one or two of these three legs, those being hacker and (maybe) designer. Not even discussing the broader needs of society, have we become to narrowly focused on STEM while forgetting other important fields?

Fortunately, I have been able to become somewhat fluent in particular programming languages, enough to have a certain level of conversation with software developers. As a kid, I went to a computer science camp and learned some game design (yes, I was/am a nerd, let’s move on). Later, I took courses on Codecademy and I continue to work with many of our product groups at MasterCard who were building APIs. I never have any intention of being a developer, but a certain level of fluency has been useful. My job at Apple was sales and marketing focused, so that box has certainly been checked. You could say I have filled in two parts of Dave’s formula so far, which just leaves some design experience. I’ve been able to take on some prototyping projects, but I am sure I will lean on resources like GA to help fill the gap.

So while the President, industry leaders, and many individuals are correct in suggesting that individuals learn to code (or more specifically, gain some level of fluency in coding as one might learn a spoken language in school), it is also important that our leaders recognize, even from an economic development persecutive, the importance of other skills and fields.

Thoughts on educational investment for the next generation? Tweet at me with #edu, and let me know!

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Community, Entrepreneurship

Other Side of the Island: Startup Weekend New Jersey

newJersey_v02

I didn’t have to do much traveling to facilitate Startup Weekend New Jersey, but the amount of energy here would have certainly made a longer trip worth it. There were some great pitches on Friday night, and I’m excited to see these teams progress over this weekend and beyond. One in particular (that shall go nameless since they are still developing) is an app that, if developed, I would use immediately and every single day.

The space where this event is being held is very dynamic. If you’re a New Jersey company looking for coworking space, I definitely recommend checking out JuiceTank. Private, semi-private, and open space is available (with parking!!).

Startup Weekend is an organization that is focused on building entrepreneurship communities around the world. Now, we can add New Jersey to that long list. Looking forward to Sunday night pitches!

Be sure to follow the action on Twitter, or tweet at me directly.

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