Entrepreneurs

The Billionaire Who Controls Your Medical Files (2021)

Published

1 year ago

August 7, 2023

The Billionaire Who Controls Your Medical Files (2021)

Story Techniques founder Judy Faulkner constructed an empire pioneering—and later dominating—digital scientific records. For a long time, she’s saved them walled off from opponents, however now the pandemic is fueling a digital health care speed that would at closing descend her from the throne.

Avictorious swell of brass devices reverberates for the duration of the 1,100-acre Story Techniques campus in Verona, Wisconsin, a sleepy suburb correct launch air Madison. It’s February 2020, and rather then for China and 2 ill-fated cruise ships, there are few indicators of the coronavirus pandemic that’s about to envelop the arena. It’s indubitably industry as current at Story: The acquainted traces of a baroque marriage ceremony march maintain the hallways, stopping the health care software company’s 10,700 workers of their tracks. On cue, a brand unique buyer announcement follows: Florida-basically basically based AdventHealth plans to deploy Story’s digital health fable system for the duration of 37 of its hospitals. The tubby set up will arrangement shut over three years and impress around $650 million, no longer counting ongoing repairs, which will impress millions more yearly. “It’s a in actual fact long relationship for many of our potentialities,” Story’s founder and CEO, Judy Faulkner, says in a rare interview. She got the thought that for the marriage ceremony theme from a consult with to the Mayo Sanatorium several decades earlier, the place she heard lullabies play whenever a brand unique minute one was once born. A unique buyer “didn’t in actual fact feel cherish a brand unique minute one,” she says. “It felt more cherish a wedding.”

Indeed, scientific institution executives are continuously more committed to Story than most Americans are to their marriages. Story’s average buyer has been using its software for ten years, and Faulkner claims the company has under no circumstances misplaced an in-affected person scientific institution client, rather then in the case of an acquisition. Partly that’s on account of it’s so laborious to leave. Story’s software helps put collectively a affected person’s complete wander, starting with scheduling an appointment, entering into the health facility or operating room as the doctor records hypersensitivity indicators or X-rays after which to the encourage place of job for billing and apply-ups. It’s a proprietary system that infamously doesn’t play properly with others. The company’s product is once in a while most ceaselessly known as an digital health fable, however its attain is powerful broader, alongside with earnings cycle administration, buyer retention tools and records analytics.

Story’s suite of offerings has proven namely current among sizable tutorial scientific centers and early life’s hospitals, equivalent to the Cleveland Sanatorium, Johns Hopkins and Boston Youngsters’s Health facility. The company’s 564 potentialities drawl practically 2,400 hospitals worldwide and 225 million patients in the U.S., or about two thirds of the country’s inhabitants. This translated into bigger than $3.3 billion in earnings in 2020, regardless of what Faulkner estimates to be around $500 million in foregone earnings for Covid-linked software it supplied free of impress, alongside with an infection administration tools and extensions for pop-up hospitals. “It under no circumstances appeared correct to me to rupture money off Covid,” she says.

Her success has been decades in the making. Since Story’s founding in 1979, the 77-year-ragged Faulkner has steadfastly rejected launch air merchants, Wall Boulevard financing and acquisitions. Story was once restful correct a $500 million (gross sales) company in 2007. Ten years ago, it hit $1 billion in earnings, and improve has compounded at an annual price of 15% yearly since. It’s highly successful: Estimated money fade alongside with the circulation as measured by Ebidta is north of 30%, and the company has no debt. Forbes estimates Faulkner’s 47% stake in Story to be worth $6 billion, which makes her the 2d-richest self-made lady in The united states. Staff and around a dozen other cofounders and initial merchants compile the different 53%.

In 2019, Story had a 39% part of the larger than 880,000 scientific institution beds in the U.S., the health care IT firm KLAS Research estimates. The remainder of the market is fragmented among publicly traded Cerner, the Massachusetts-basically basically based Meditech and a few other firms, alongside with Allscripts and CPSI. Story’s dominance has made it an industry target, with critics and opponents accusing the company of being a closed community that makes it refined to commerce knowledge with other systems. Faulkner contends Story does part knowledge however places affected person privateness above all.

Story’s greatest strength, this style-it-by myself mentality, would possibly perchance perhaps turn into its greatest liability in the submit-Covid world. The pandemic is forcing snappy commerce in the U.S. health care system. Medical doctors and other providers compile with out note adopted unique technology over the closing year as patients with out note took a stable hobby in staying as some distance-off from the scientific institution as seemingly.

Enterprise capitalists were already gunning for Story sooner than the pandemic struck. In spite of all the pieces, the company’s substantial-system mindset and hundred-million-buck installations seem out of step in the era of cloud computing and cheap, ubiquitous mobile apps. Then, shortly sooner than lockdown, the U.S. executive finalized unique federal knowledge-sharing guidelines empowering patients to compile possession over their compile digital scientific records—doubtlessly extra eroding what has historically been a health-knowledge oligopoly dominated by Story and Cerner.

“We are correct in the heart of this exceptional transformational swirl,” says John Glaser, a outmoded Cerner govt who currently lectures at Harvard Medical College. It’s no longer that digital health records will fade away, he says, however more nimble and agile startups will enter the market. Staunch as the Net and smartphones crushed Microsoft’s reputedly unassailable Nineties-era desktop monopoly, this unique era would possibly perchance also simply pose the similar challenges for Faulkner. But there’s one substantial distinction. The transfer-snappy-and-spoil-things ethos of Silicon Valley doesn’t work in health care. “Chances are you’ll perchance also’t disclose a doctor it’s ok to fail,” Glaser says. “It’s no longer ok to fail. That’s loss of life.”

Faulker has loved tackling no longer easy concerns since she was once a minute bit one rising up shut to Haddonfield, Recent Jersey, in the Fifties. In seventh grade, her math trainer set riddles on the blackboard, and he or she’s been zigzag on math and common sense ever since. She majored in math at Dickinson College in Carlisle, Pennsylvania, and had a summer season job in particle physics on the College of Rochester, the place she was once launched to pc programming and Fortran (the historical coding language invented by IBM). “I continuously preferred making things out of clay,” Faulkner says. “And the pc was once clay of the tips. In preference to physical, it was once mental.”

Faulkner says she didn’t compile a substantial understanding for improve. “It’s continuously been, cherish, you climb a mountain. And likewise you correct look the hill forward of you. You don’t look the total mountain.” Jamel Toppin for Forbes

In 1965, she started a doctorate in the College of Wisconsin’s nascent pc science program. In Madison, she met psychiatrist and professor Warner Slack, who was once instructing one of many main-ever programs on computers in medication. About a years later, Slack launched Faulkner to John Greist, then chief resident in medication and now professor emeritus on the College of Wisconsin, who was once shopping for a bigger manner to time desk on-name scientific doctors. In 1969, Faulkner developed a system through which a secretary would possibly perchance perhaps punch knowledge cards to generate the time desk for a complete year in 18 seconds at a impress of $5.

Faulkner graduated with out ending a dissertation (“I under no circumstances would possibly perchance perhaps resolve out what to jot down a thesis on,” she says) and in the early Seventies started working for a physicians neighborhood on the College of Wisconsin, rising a database to defend observe of affected person knowledge over time. It would arrangement shut just a few more years (and hundreds convincing from colleagues) sooner than Faulkner was once ready to open her compile software company. “It practically appeared cherish a shaggy dog memoir to open an organization,” she remembers. “How attain you attain that?”

In 1979, Faulkner and Greist borrowed from chums and family—and against their homes—to scrape collectively the capital to open Human Products and services Computing (later renamed Story), which was once in the starting up valued at $70,000 (about $270,000 in on the original time’s money). Faulkner had six or seven other collaborators, however from the starting it was once the Judy demonstrate; the company was once her notion, and he or she served as its first president. Before all the pieces, it operated after-hours from a Madison basement. Faulkner wrote the total authentic code on a Files Frequent Eclipse 16-bit minicomputer the dimensions of a fridge.

After just a few years, Greist had a contrast with Faulkner over the company’s route. Greist says he stepped down from Story’s board in 1983 however restful holds on to a few shares. “Phase of my venture with her was once me announcing, ‘Gosh, why don’t we compile some venture capital and we are in a position to kind it sooner?’ ” Greist says. “And she talked about, ‘No, we’re no longer going to attain that. Because we’ll lose defend watch over.’ And indubitably that’s been her coverage. And she has lived it out and proven it. I was once terrifying. She was once correct.”

Story saw dead however precise improve in its first 20 years, gaining a handful of unique potentialities yearly because it expanded its offerings. Within the dead Nineteen Eighties, the company added billing software; in the early Nineties, it adopted a graphic particular person interface for outpatient clinics. With the exception of Faulkner’s obsessive focal level on its potentialities, Story had one more advantage: pc code that labored. “It’s no longer ultimate, however it surely’s somewhat official,” Faulkner says.

In 2004 the company landed its greatest deal but: a three-year venture with Kaiser Permanente that would impress the health extensive $4 billion. Story’s lower would be around $400 million. “[Epic] brought that safety converse that if you happen to chose them, they were in actual fact going to ship on implementation and additionally they were going to attain it on time,” says George Halvorson, who was once the CEO of Kaiser Permanente on the time. “That’s substantial.”

The year after Story inked the Kaiser deal, it moved to a brand unique company campus, which is ceaselessly in contrast to an grownup Disney World. Headquarters capabilities one of many arena’s greatest underground auditoriums, a Hogwarts-inspired Huge Hall, an elevator to Hell, a huge tree condominium and myriad other odd and fantastical constructions and sculptures amid the rolling hills of southern Wisconsin. At Story’s annual buyer meeting, Faulkner is recognized for dressing up in costumes, ranging from Lucille Ball to the Wrathful Hatter from Alice in Wonderland. All of it seems a minute bit at odds with the self-proclaimed nerd who shies some distance from the public check up on. “Introverts can act cherish extroverts,” she offers by manner of explanation. “What they are saying is extroverts can’t act cherish introverts.”

The company sees a form of turnover. Yearly, Story hires around 2,000 workers, who’re required to circulation a chain of aptitude exams measuring things cherish coding talents and common sense. The company motto is: “Affect correct. Celebrate. Scheme money,” and the culture is snappy-paced and hypercompetitive. Aged workers discuss burnout from an ambiance stuffed with overachievers. But even Story’s workers would possibly perchance also simply furthermore be pushed too some distance: There was once a rebellion when the company tried to force all staffers to return to campus amid the pandemic closing August. After several reports about the contretemps appeared in the native press, the company reversed route.

Florida’s AdventHealth, which signed its $650 million contract in a pre-Covid world, will probably be Story’s greatest entirely faraway kind and set up. In a blow to Cerner and Athenahealth, CEO Terry Shaw made up our minds it can probably perchance perhaps be better for his 5.5 million patients to interchange to Story pretty than looking out to compile its newest mixture of three digital health fable firms to leer advice from one one more. Whereas it’s costly up front, he says, the transfer will lower operating payments in the long length of time. Story’s system “has tentacles that exit through fabulous networks,” he provides. “Chances are you’ll perchance also in actual fact reduction a particular person compile the care they need, wherever they desire to compile it.”

Epic’s tentacles are infamous for reaching handiest to this level, however—and that seems largely by kind. It’s supereasy for, tell, a scientific institution to part a cancer affected person’s records with an launch air chemotherapy health facility—so long as both areas are working Story’s software. If the chemotherapy health facility is using software from a substantial competitor, it’s restful doubtlessly going so that you would possibly perchance access the affected person’s records. But when the health facility needs to experiment with a more cost effective third-birthday celebration app, it’ll be somewhat a fight. Story works with health care apps handiest on a case-by-case basis.

Geeks name this “interoperability”—getting somewhat just a few software systems to leer advice from one one more, in essence—and the converse of affairs came to a head in January 2020 for the length of a debate over the unique federal guidelines. Sharing scientific records with third parties—even on the affected person’s compile ask—would possibly perchance perhaps pose “excessive risks to affected person privateness,” Story talked about in an announcement on the time.

Almost about one one more tech company—alongside with Cerner, Apple, Microsoft and Google—disagreed, arguing that Story’s stance is detrimental for patients and stifles innovation. Even federal officers took veiled digs at Faulkner’s industry. “The disingenuous efforts by particular non-public actors to exercise privateness—obligatory because it’s miles—as a pretext for keeping affected person knowledge hostage is a humiliation to the industry,” outmoded Centers for Medicare and Medicaid director Seema Verma talked about at a convention. Within the cease, the feds prohibited health care knowledge blocking by Story or every other company.

Huge Tech has flirted with health care knowledge for bigger than a decade, with firms cherish Google attempting and failing to open an internet-basically basically based non-public health fable in the dead aughts. Microsoft HealthVault in an identical style crashed and burned. Apple’s strive and measure heart rhythms with its gaze was once panned by scientific doctors. And Amazon had a extensive flop with Haven, its joint venture with Berkshire Hathaway and JPMorgan Toddle, which was once supposed to dramatically slash employer health care payments.

Where the whales failed, the minnows would possibly perchance perhaps fetch. With the unique federal guidelines rolling out over the following couple of years, masses of venture capitalists are now making a wager substantial that one of many tiny upstarts can breach Story’s moat. Health IT venture funding hit an all-time high in 2020 of bigger than $3.6 billion, a 51% enlarge from 2019, per CB Insights. “I in actual fact compile under no circumstances in the history of health care in the United States viewed this more or less supernova of innovation with a flurry of investment activity into digital health,” says Missy Krasner, a outmoded Google Health and Amazon govt who only in the near previous joined Recent York-basically basically based venture shop Redesign Health. “Covid has entirely made interoperability enticing all another time.”

Faulkner says she’s no longer concerned about the total Silicon Valley players entering the health care condominium. “I insist that what is going to happen is that just a few of them will attain completely. And the bulk of them won’t,” she says. “It’s no longer us as powerful as the health systems who desire to reply to the affected person announcing, ‘Send my knowledge right here,’ or ‘Send my knowledge there.’”

The unique federal guidelines venture particular particular person affected person records, however the industry is with out note heading in opposition to aggregating bulk knowledge. It’s a condominium through which many, alongside with Story, desire to play. These sizable, nameless scientific knowledge sets would possibly perchance also simply furthermore be passe for all the pieces from drug discovery to unearthing emerging nationwide health trends and would be worth a form of money. In 2019, Story unveiled a substantial-knowledge initiative called Cosmos, which targets to mine bigger than 100 million deidentified affected person records.

Despite being correct 28 months greatly surprised of her Eightieth birthday, Faulkner says she has no plans to retire. She has no longer named a successor, and none of her three adolescents works at Story. Faulkner has secured Story’s future handiest insofar as the company will under no circumstances be taken public. She has spoil up her stock into vote casting shares that can’t be supplied and compile long gone into a belief managed by relatives and workers. Her nonvoting shares are being left to a foundation she established with her husband called Roots & Wings, which funds her interests in minute one brain building and prison justice reform (she signed the Giving Pledge in 2015). “I skills what I attain and I’d desire to attain it so long as I’m efficient and can carry impress in the job,” she says. She worries about what happens to folk after they retire, having read that the average particular person dies two years after leaving the team. “They appear to lose that edge that says, ‘Why am I waking up in the morning? What’s my day going to be?’ I compile up and insist, ‘How attain I compile all the pieces carried out in my day?’”

Entrepreneurs

Crypto Entrepreneur Justin Sun and the $6 Million Banana: A Blend of Art, Blockchain, and Outer Space Dreams

Published

24 minutes ago

November 22, 2024

Sahil Sachdeva

justin-sun-visionary-behind-$6-million-banana-art

In a dazzling mix of cryptocurrency culture and modern art, Crypto entrepreneur Justin Sun recently purchased a $6 million banana artwork, Comedian, by Italian artist Maurizio Cattelan. The piece, consisting of a banana duct-taped to a wall, has stirred both admiration and debate since its debut at Art Basel in 2019, where it was promptly eaten by a performance artist. Despite its ephemeral nature, the artwork’s value lies in its certificate of authenticity and its bold commentary on the meaning of art and value.

Sun, the Chinese founder of the Tron blockchain, outbid six contenders at Sotheby’s auction to own the provocative artwork. For Sun, the purchase is more than a headline-grabbing acquisition. He plans to personally eat the banana, continuing the playful yet profound tradition of engaging with the artwork in unconventional ways. However, thanks to the certificate of authenticity, a roll of duct tape, and a detailed 14-page manual, Sun retains the ability to recreate the artwork—complete with specifications on the banana’s orientation and placement.

The crypto billionaire’s purchase highlights the intersection of art, wealth, and blockchain culture, a world where ownership and authenticity often take precedence over tangible assets. Sun’s interest in the piece extends beyond personal consumption; he recently suggested sending the banana to space. In a post on X (formerly Twitter), Sun proposed donating the banana to Elon Musk for attachment to a SpaceX rocket, envisioning its journey to the Moon and Mars as an interstellar statement about art’s limitless potential.

Justin Sun: Entrepreneur Behind $6 Million Banana Art

Comedian has become a cultural symbol, challenging traditional notions of value and artistic significance. Sun’s ownership adds a layer of intrigue, merging the worlds of crypto entrepreneurs and contemporary art. Whether eaten or launched into space, the $6 million banana continues to spark conversation, pushing the boundaries of what art—and ownership—can represent in the modern age.

Business

Snoop Dogg Launches “Lovechild” Jewelry Collection: A Celebration of Empowerment, Style, and Love

Published

1 week ago

November 14, 2024

Sahil Sachdeva

snoop-dogg-unveils-lovechild-jewelry-collection

Snoop Dogg, the legendary rapper and cultural icon, has just launched his highly anticipated jewelry line, Lovechild, in collaboration with Metal Alchemist and music and media company gamma. This unique collection is designed not only to elevate personal style but to also inspire empowerment and well-being, making it much more than just a jewelry collection.

The Lovechild name was carefully chosen by Snoop himself, reflecting his desire to lead with love in a world filled with anger, negativity, and division. “I wanted to create something that represents positivity and empowerment—something that reminds people to lead with love,” Snoop Dogg explained. Through this collection, Snoop’s vision of spreading love as a transformative energy is brought to life in the form of luxurious, yet meaningful jewelry.

Snoop’s Lovechild jewelry collection includes carefully crafted pieces made with precision and quality, designed to resonate with individuals who believe in self-expression and personal growth. The collection exudes a sense of timeless style, making each piece not just a fashion statement but an emblem of the powerful energy Snoop wants to share with the world.

snoop-dogg-unveils-lovechild-jewelry-collection

The Lovechild collection will be available exclusively at Reeds 57 locations and online at reeds.com, offering fans and jewelry enthusiasts alike the chance to own a piece of Snoop.Love. The collaboration between Snoop Dogg and Metal Alchemist founder Carolyn Rafaelian is rooted in their shared belief in empowerment and transformation. Rafaelian, who has been at the forefront of creating innovative jewelry with a clean and powerful aesthetic, believes that this collection will be an unexpected hit, combining Snoop’s passion for love and positivity with Metal Alchemist’s commitment to using precious metals in groundbreaking ways.

“Snoop and I have always shared a foundational belief—to empower others and change the way things are done,” said Carolyn Rafaelian. “This partnership with gamma. takes that shared vision to new heights.” The Lovechild jewelry collection is not just about style; it’s about creating a movement of positivity, love, and transformation that resonates with anyone looking to make a difference in their own lives and in the world.

With the launch of Lovechild, Snoop Dogg has once again proven that his influence extends beyond music and entertainment. The collection promises to make a lasting impact, combining the worlds of fashion, empowerment, and iconic style into one unforgettable jewelry line. Snoop’s Lovechild collection is set to become a symbol of the power of love and the timeless appeal of style.

Business

Ashley Sankar’s Shark Tank Success: From Job Hustle to Thriving Side Business with NineteenTwenty

Published

1 week ago

November 13, 2024

Sahil Sachdeva

ashley-sankar-shark-tank-from-hustle-to-success

Ashley Sankar is redefining the meaning of hustle. Balancing a demanding job as a senior program manager at Amazon and a burgeoning side business, she exemplifies entrepreneurial determination. Her Phoenix-based startup, NineteenTwenty, recently caught national attention when she and her husband, Zach, landed a $250,000 deal on ABC’s Shark Tank.

The Birth of NineteenTwenty

NineteenTwenty isn’t just another clothing brand—it’s a game-changer. The company designs versatile apparel like puffer jackets and skirts that transform into practical items such as tote bags, pillows, or blankets. Launched in December 2022, the side business generated $269,000 in its first year, despite challenges like limited inventory.

“Our mission was to supplement our income,” Ashley shared. “But it grew faster than we imagined.”

Balancing a Job and Side Business

Ashley Sankar’s journey to Shark Tank success wasn’t without sacrifices. Working 10-12 hours daily at her job and dedicating another 6-8 hours to her side business, she pushed the limits of her time and energy. Her relentless efforts paid off when she and Zach pitched NineteenTwenty to the show’s investors.

The Shark Tank Moment

On Shark Tank, the Sankars asked for $250,000 in exchange for 10% equity. While facing tough questions about financials and industry competition, their passion and ingenuity shone through. Investor Robert Herjavec offered $250,000 for a 25% stake, a deal the couple gladly accepted.

“I’d rather have 72% of something than 100% of nothing,” Ashley said.

ashley-sankar-shark-tank-from-hustle-to-success

A Success Story in the Making

For Ashley Sankar, balancing a job and a side business has been a journey of perseverance. NineteenTwenty’s success on Shark Tank not only validates her hard work but also marks the start of an exciting new chapter.

With her entrepreneurial spirit and work ethic, Ashley’s story is proof that with determination and innovation, even the busiest dreamers can turn their side hustle into a success.

Business

How Entrepreneurs Can Unlock Growth, Freedom, and a Balanced Lifestyle through the Right Community

Published

2 weeks ago

November 7, 2024

Sahil Sachdeva

How Entrepreneurs Can Unlock Growth, Freedom, and a Balanced Lifestyle through the Right Community

In today’s rapidly evolving world, entrepreneurs are constantly on the hunt for new ways to scale their businesses, achieve personal growth, and enjoy true freedom. For many, the answer lies in joining a high-value, growth-oriented community that empowers them to reach their goals without compromising their lifestyle. In this post, we’ll dive into how the right entrepreneurial community can help you grow, achieve greater freedom, and create a more balanced life.

Why Entrepreneurs Need a Growth-Focused Community for Success

Entrepreneurship can be an isolating journey. Many entrepreneurs start with dreams of financial freedom and a fulfilling lifestyle but find themselves overwhelmed by the challenges of running a business. This is where an entrepreneurial community becomes invaluable. Being part of a group that shares your vision for growth can significantly accelerate your progress. Communities like Platinum ELEVATED, for example, offer an environment where ambitious entrepreneurs can connect, learn, and thrive together.

The Power of a Community: Grow Beyond Your Limits

When you surround yourself with like-minded entrepreneurs, you gain access to insights, strategies, and a support system that’s hard to find elsewhere. In a growth-oriented community, members share knowledge, resources, and real-world experiences that can help you avoid common pitfalls and take more direct paths to success.

Moreover, these communities are built around accountability, one of the most critical factors in maintaining focus and achieving consistent growth. With regular check-ins and peer support, entrepreneurs are more likely to stay committed to their goals and overcome challenges effectively.

Achieving Freedom in Both Life and Business

One of the biggest draws of entrepreneurship is the promise of freedom. However, many entrepreneurs struggle to achieve this due to constant demands on their time and energy. A supportive community can change that. By learning from others who have found ways to balance business success with personal fulfillment, you can develop strategies for achieving true freedom.

Joining a community like Platinum ELEVATED can be transformative. Their structured approach combines personal coaching, mentorship, and group sessions, all of which can help entrepreneurs not only grow their businesses but also reclaim their time, focus on family, and enjoy a balanced lifestyle.

Practical Tips for Finding the Right Community for Your Entrepreneurship Journey

Finding the right community for your entrepreneurship goals requires careful consideration. Here are a few tips to help you make an informed choice:

Look for a Community That Matches Your Values – Make sure the group aligns with your vision for both business growth and personal lifestyle goals.
Consider the Expertise Available – Communities led by experienced entrepreneurs, like Chad Willardson’s Platinum ELEVATED, offer a wealth of knowledge and insights that can fast-track your success.
Assess the Support Structure – Choose a community that offers ongoing support, accountability, and practical resources to help you achieve real growth.

How Entrepreneurs Can Unlock Growth, Freedom, and a Balanced Lifestyle through the Right Community

Unlocking Growth, Freedom, and Lifestyle Balance Through Entrepreneurship

In summary, joining a supportive, growth-oriented community can help entrepreneurs achieve their vision of success, freedom, and a balanced lifestyle. By tapping into the power of collective wisdom, practical support, and accountability, you can elevate your business and your personal life in ways that might not be possible on your own.

The journey to entrepreneurial success is never easy, but with the right community by your side, you can enjoy the growth, freedom, and lifestyle balance that every entrepreneur dreams of.

Business

The Rise of Wellness: A Trillion-Dollar Industry Transforms Health and Work Cultures

Published

2 weeks ago

November 6, 2024

Sahil Sachdeva

In today’s world, the global wellness industry has reached an astonishing milestone, with a market valuation of $6.32 trillion in 2023. This expanding industry now outpaces pharmaceuticals and sports, highlighting a significant shift in consumer priorities toward holistic health. The wellness market growth covers various sectors, including personal care, beauty, weight loss, nutrition, and even wellness real estate, showcasing an increased focus on mental and physical well-being in daily life.

The Wellness Boom: A Post-Pandemic Priority

Following the pandemic, individuals have become more health-conscious, leading to a surge in demand across wellness sectors, especially in personal care and nutrition. This post-pandemic wellness trend underscores the heightened importance people place on preventive health and self-care, resulting in a robust rebound for the wellness industry after the temporary setbacks experienced during COVID-19. North America, known for its higher expenditure in wellness, remains at the forefront of wellness market spending, emphasizing regional differences in health-related investments.

Corporate Wellness: Investing in Employee Well-Being

The corporate wellness market is also expected to witness considerable expansion by 2032 as companies increasingly recognize the value of prioritizing employee health. Employers are investing in wellness initiatives—like mental health resources, fitness programs, and wellness retreats—to foster a happier, healthier workforce. This evolution in workplace culture signals a new era where corporate wellness programs are as essential as traditional benefits, underscoring the strong connection between well-being and productivity.

Hybrid Work and Remote Job Satisfaction

The rise of hybrid work productivity is another trend reshaping the wellness industry. Research shows that employees working in a hybrid model report similar productivity levels to in-office employees while experiencing higher job satisfaction. Many credit this satisfaction to the flexible balance between work and personal life that hybrid work enables. Reflecting the quirks of remote work, Kevin O’Leary recently commented on the “business on top, casual on the bottom” fashion trend during a television appearance, capturing the essence of remote work culture.

Tech Innovations: Smart Glasses and Health Monitoring

In the tech world, wellness trends are influencing the development of new devices. Following Meta’s success with its recent launches, Apple is now considering entering the smart glasses market. With wearable technology already playing a pivotal role in health tracking, Apple’s potential entry could further revolutionize how people engage with their well-being.

Surprising Shifts in Wealth and Health Culture

A recent analysis also uncovered that the wealthiest U.S. city is not in New York or California, reflecting new demographic trends in wealth and wellness priorities across regions. This unexpected shift further emphasizes how health and wellness are spreading beyond traditional high-income areas, with other regions leading in wellness-oriented lifestyles and investments.

Wellness

Wellness Industry Trends: The Future Outlook

The future of the wellness industry points to sustained growth across various areas, from corporate wellness to advanced personal care solutions. Companies are likely to increase their investment in wellness programs, creating a more supportive workplace culture focused on employee well-being. As health and wellness industry trends continue to evolve, the industry’s growth will likely see further expansion into wellness tourism, sustainable health products, and more personalized wellness solutions.

This remarkable rise of the global wellness industry exemplifies the shift in modern values, with a focus on health, fulfillment, and a balanced lifestyle. The wellness sector’s continued growth signals a bright future where personal well-being takes center stage in both our personal and professional lives.

Entrepreneurs

Nvidia Set to Replace Intel in the Dow Jones Industrial Average: A New Era in Semiconductors

Published

3 weeks ago

November 4, 2024

Sahil Sachdeva

In a groundbreaking shift within the Dow Jones Industrial Average, Nvidia is set to replace Intel, marking a significant transformation in the semiconductor industry. This transition reflects the soaring prominence of artificial intelligence (AI) and the evolving landscape of technology.

Nvidia’s Meteoric Rise

Nvidia has enjoyed a remarkable year, with its shares skyrocketing more than 170% in 2024, building on a staggering 240% increase the previous year. As a result, the company’s market capitalization has ballooned to $3.3 trillion, positioning it as the second-largest publicly traded company, just behind Apple. The rapid ascent is fueled by surging demand for Nvidia’s graphics processing units (GPUs), especially among tech giants like Microsoft, Meta, Google, and Amazon, which are purchasing Nvidia’s H100 GPUs in vast quantities to bolster their AI capabilities.

With revenue more than doubling over the past five quarters—tripling in three of those periods—Nvidia has become a focal point in the tech sector. The company recently indicated that demand for its next-generation AI GPU, known as Blackwell, is “insane,” further highlighting its pivotal role in the AI revolution.

Intel’s Decline

In stark contrast, Intel has faced a challenging year, with shares plummeting over 50% as the company struggles to maintain its once-unassailable market position in the face of mounting competition from Advanced Micro Devices (AMD) and others. Long recognized as a leader in PC chip manufacturing, Intel has fallen behind in the AI race, failing to make substantial advancements in this burgeoning sector.

Recent filings from Intel revealed plans for significant restructuring, including a reduction of its workforce by 16,500 employees and a contraction of its real estate footprint. These measures, initially announced in August, underscore the company’s ongoing battle with manufacturing challenges and its struggle to regain competitiveness.

A Strategic Shift in the Dow Jones Industrial Average

The switch, set to take effect on November 8, is not only a pivotal moment for Nvidia and Intel but also highlights broader trends within the Dow Jones Industrial Average, which comprises 30 components weighted by the share price of individual stocks. With Nvidia’s entry, four of the six trillion-dollar tech companies—Nvidia, Apple, Microsoft, and Amazon—will now be represented in the index, with Alphabet and Meta remaining outside its ranks.

The decision to include Nvidia follows its strategic move earlier this year to execute a 10-for-1 stock split. While this maneuver did not affect its overall market capitalization, it effectively lowered the price of each share, facilitating the company’s inclusion in the Dow Jones Industrial Average without overly skewing the index.

This change is particularly noteworthy as it represents the first adjustment to the index since February, when Amazon replaced Walgreens Boots Alliance. Over the years, the Dow Jones Industrial Average has sought to enhance its representation of the largest and most influential technology companies, adapting to a rapidly evolving market landscape.

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As Nvidia replaces Intel in the Dow Jones Industrial Average, it signals a transformative moment in the semiconductor industry. The rise of AI has not only reshaped the fortunes of these two companies but also indicates a broader shift in the technological landscape, with Nvidia poised to lead the charge into the future. This transition not only reflects the dynamics of competition in the tech sector but also serves as a bellwether for the ongoing evolution of industries driven by innovation and technological advancement.

Business

How to Discover Winning Startup Ideas in 5 Simple Steps?

Published

3 weeks ago

October 29, 2024

Sahil Sachdeva

Finding a great startup idea can be challenging, especially since many entrepreneurs start with an idea that sounds exciting but lacks real impact. As Y Combinator co-founder Paul Graham warns, focusing solely on coming up with an idea often leads to plausible-sounding but ultimately weak concepts. Instead, a structured approach to uncovering viable opportunities is crucial.

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Here’s a 5-step guide to help you discover startup ideas that are worth your time and effort:

1. Spot and Solve Everyday Work Challenges

One of the most effective ways to uncover meaningful startup ideas is by identifying problems in your day-to-day work life. Small inefficiencies, recurring challenges, or time-consuming tasks often hide valuable opportunities. When you spot these inconveniences and seek to solve them, you’re likely to find ideas that have immediate relevance and clear value for potential users.

Start by making a habit of noting process inefficiencies or areas for improvement in your job or industry. Over time, you may spot patterns, revealing specific areas where your solution could grow into a viable business.

2. Dive Into Niche Markets for Unique Opportunities

Niche markets are often gold mines for startup ideas. These specialized markets, often overlooked by larger companies, are underserved, which means there’s space for innovative solutions. By focusing on a particular niche, you not only narrow down your audience but also tap into a community with specific challenges and needs.

For example, pet technology has emerged as a growing niche market, with products like GPS-enabled collars and health-tracking apps designed for pets. According to the American Pet Products Association, Americans spent over $100 billion on their pets last year, showcasing the revenue potential even within a smaller segment. Exploring niche markets can help you discover startup ideas with clear demand and less competition.

3. Leverage Emerging Trends to Uncover Ideas

Keeping an eye on trends, both technological and societal, gives you a glimpse of potential needs on the horizon. Following these trends allows you to anticipate shifts in demand and behavior, positioning you to address these needs early.

For example, the rise of remote work during the COVID-19 pandemic drove demand for tools like Zoom, Slack, and Asana, which catered to distributed teams. Today, emerging trends like artificial intelligence, renewable energy, and the gig economy are creating new opportunities. Analyze these trends to identify what people are likely to need in the future and shape your business around these insights.

4. Connect With Users Early On

Direct engagement with potential users is invaluable when identifying and validating startup ideas. Joining online communities, social media groups, or industry forums helps you understand real frustrations and challenges that users face, often revealing insights that typical market research might miss.

By actively listening and engaging with users, you can shape your idea to better align with their needs. This approach not only strengthens idea validation but also helps in building an early user base that’s invested in your project.

5. Quickly Test and Validate Your Ideas

Validation is crucial for any startup, and adopting a “fail fast” approach is the best way to ensure your idea has genuine potential. Rather than investing heavily in a full product, start with a Minimum Viable Product (MVP) or prototype to test your concept with real users.

Dropbox famously did this by releasing a simple explainer video to gauge interest before fully developing the product. Using platforms like online surveys, landing pages, and basic prototypes can help you measure initial interest. If feedback is underwhelming, pivoting early allows you to adjust your idea to better fit the market.

Wrapping Up: A Clear Path to Startup Success

Uncovering a valuable startup idea is more than just a spark of inspiration. It involves a strategic approach where you tackle real problems, explore niche markets, stay updated on trends, connect with users, and validate ideas quickly. By following these steps, you increase your chances of finding an idea that has solid potential and a path to success.

For entrepreneurs ready to take on this journey, start by observing, testing, and refining your ideas with a structured approach that can lead to a winning startup.

Entrepreneurs

Ambarish Nag Unveils His Most Personal Track Yet: ‘Every Step of the Way’—A Journey of Love and Vulnerability

Published

3 months ago

September 4, 2024

Sahil Sachdeva

Mumbai-based musician Ambarish Nag has once again captivated audiences with his latest single, ‘Every Step of the Way,’ which was released on August 30th, 2024, across online platforms. This new track is not just another addition to his discography; it is a deeply personal exploration of vulnerability and the universal longing for connection.

Ambarish’s journey through music has always been about bridging gaps—both cultural and emotional. With his debut album last year, he skillfully blended Eastern and Western influences, crafting a sound that resonates across borders. This unique fusion has not only defined his style but also cemented his reputation as a visionary artist in the music industry.

However, the road to artistic fulfilment is often complex. Since launching his debut single in July 2019, Ambarish has steadily built his name, with each new release in 2020, 2021, and 2022 bringing him closer to his aspirations. His first full album in 2023 marked the culmination of years of relentless effort and creative growth, earning widespread acclaim for his ability to forge deep connections with listeners.

The creation of ‘Every Step of the Way’ came with its challenges. After writing the lyrics and beginning the recording process last September, Ambarish took a six-month hiatus—a necessary period of introspection that allowed him to delve deeper into the emotions fueling his most intimate work to date.

At the heart of ‘Every Step of the Way’ lies a powerful message: the courage to embrace love and conquer the fears that often accompany intimacy. Ambarish’s exploration of the complexities of human relationships offers a narrative that resonates with many, reflecting his growth as an artist and as a person willing to share his vulnerabilities with the world.

Ambarish’s journey is one of resilience and perseverance, guided by his belief in the power of persistence—a belief encapsulated in his favourite Steve Harvey quote: “If you quit, there’s no doubt it will never happen.” Through his music and his story, he aims to inspire others to push through their challenges.

With the release of ‘Every Step of the Way,’ Ambarish remains focused on the future, eager to continue his creative journey and embrace new opportunities. Each step he takes is a testament to his commitment to bridging cultures and creating enduring connections through his music.

Ultimately, ‘Every Step of the Way’ is more than just a song; it is a reflection of Ambarish Nag’s ongoing journey as an artist and a human being. As he continues to break down barriers between Eastern and Western musical styles, Ambarish is driven by a relentless passion for his craft, always striving to be the hardest-working person in any room. This latest single is yet another chapter in his inspiring story of dedication and artistic vision.

Entrepreneurs

Designing a Life You Love: A Journey of Transformation with Dr. Anu B

Published

3 months ago

September 3, 2024

Sahil Sachdeva

You feel stuck. You feel trapped. You’re working a dead-end job. You have zero motivation and you don’t see how you can make a change and get out of that slump. I’m sure some of you may have found yourselves in a similar situation at some point. Instead of getting overwhelmed, Dr. Anu B. encourages you to dare to reimagine a life that truly excites and fulfills you. “Imagine approaching life with the mindset of a designer. Begin to ask bold questions like, What if I could design a life that truly excites me? or How would my world change if I could create something entirely new and fulfilling?”. “By embracing this approach, you open the door to a life of possibilities that you might have never imagined “she explains.

Dr. Anu’s illustrious career spans over two decades, highlighted by exceptional achievements in both education and industry. With a Doctorate in Engineering, she has built a reputation for profound technical expertise and visionary leadership, earning accolades such as the Business Excellence HR Future Leader Award and the Guru Shiromani Award for 2022-23.

Yet, amidst her professional success, Dr. Anu confronted a startling realization: despite her accomplishments, there was a profound disconnect between her external achievements and her inner sense of fulfillment. She discovered that many high-achievers, herself included, grapple with feelings of anxiety and discontent, drifting through lives they hadn’t consciously designed.

This revelation ignited a transformative journey for Dr. Anu. Driven by the need for a deeper purpose, she sought out the “Designing Your Life” (DYL) program at Stanford University, created by Bill Burnett and Dave Evans. The program’s core idea—that we can intentionally craft our lives like any other project—resonated deeply with her, sparking a profound personal transformation.

Embracing this new perspective, Dr. Anu transitioned her focus to life coaching. As a certified Designing Your Life Coach, she now dedicates herself to guiding high-performing individuals, including senior executives and leaders, in designing lives that truly align with their deepest values and aspirations. Her journey from a successful career to a passionate advocate for intentional living serves as a powerful testament to the possibility of crafting a life filled with genuine joy and purpose. Her coaching practice has empowered countless people worldwide to break free from anxiety and design lives that thrive with purpose and joy.

Redefining Success Through Life Design

Dr. Anu’s philosophy centers around the idea that success is not just about achievements but about ‘ Becoming’ the person you were meant to be. She always encourages people to view their lives as their most significant project—one they have the power to shape intentionally.

At a recent panel discussion on ‘The Entrepreneurial Mindset,’ alongside leaders like Rohit Gupta, COO & Co-Founder of College Vidya, and Renuka, Founder & CEO of Indo Nippon Enterprises Pvt. Ltd., Dr. Anu captivated the audience with her powerful insights on overcoming anxiety and creating a fulfilling life.

Her work has garnered significant recognition, being named among the Top International Life Coaches and frequently invited as a speaker to talk about mental health, work-life balance, career redesign, and the importance of designing a life written by you—not for you. She has shared her insights on various platforms, and international forums like I’m a Story covered by television media and the Indian Alert’s “50 Entrepreneurs of the Year” event.

Empowering Change: From Burnout to Happiness

Dr. Anu’s unique blend of technical acumen, human empathy, and coaching expertise sets her apart in the world of life coaching. She doesn’t just offer coping strategies; she provides actionable, life-changing techniques that have proven effective in her own life and in the lives of her clients.

Her coaching programs incorporate proven techniques like reframing, prototyping, and mind-mapping to help clients build their way forward, step-by-step, towards a life that is not just lived but is a masterpiece of their own making. She supports clients through career transitions, personal setbacks, and life redesigns, empowering them to take radical responsibility for their happiness and fulfillment.

In addition to her coaching practice, Dr. Anu co-founded BlissfulDrapes, an Indian ethnic fashion brand. However, this venture is more than just a business; it is a means to give back. The profits from BlissfulDrapes fund Designing Your Life programs for young girls, and single mothers in India, helping them achieve financial independence and personal fulfilment. Through this initiative, Dr. Anu demonstrates her commitment to empowering others not just in words, but through action.

A Vision for the Future: Creating 10,000 Opportunities

Looking ahead, Dr. Anu’s vision is to create 10,000 opportunities for people to design a life where they can thrive. Her journey from academia to international life coaching, her achievements like the Indian Legacy Award 2021, and her commitment to making a meaningful impact all serve as a testament to the power of life design.

Designing Your Destiny: Are You Ready?

Dr. Anu B is not just a life coach—she is a guide for those ready to take the reins of their own lives. She invites you to awaken to the incredible potential that lies in designing your own life. Are you ready to discover how powerful and exhilarating life can be when you start designing your destiny?

In the words of Dr. Anu, “Don’t just live—design a life you love.”

If you’re feeling stuck or seeking to realign your life with your deepest values and aspirations, Dr. Anu invites you to explore this journey with her.

Visit her website at http://www.anubinny.com/ or email her at dranubinny@gmail.com to schedule a clarity call.

Entrepreneurs

SHIKSHIT BHARAT SANKALP HUMARA VISION OF BANSHI VALLABH MISHRA

Published

4 months ago

August 8, 2024

Sahil Sachdeva

Banshi Vallabh Mishra, a dynamic and visionary second-generation entrepreneur based in Delhi, spearheads a transformative movement in the education sector. With over five years of experience across diverse fields such as real estate, education, export manufacturing, and information technology, Mishra’s journey is marked by his unwavering commitment to social upliftment and educational excellence.

Banshi Vallabh Mishra, Director of Operations; has been associated with the RISHI GROUP OF EDUCATIONAL INSTITUTIONS comprising a School, a Vocational College, an Institute, and a Digital Learning Centre since its inception.

The Rishi Group’s business model focuses on delivering an education that is not only comprehensive but also inclusive, catering to the diverse needs of students. The group’s commitment to inclusivity and holistic education sets it apart from its peers, ensuring that every child has the opportunity to grow and succeed.

His vision extends to the Rishi Group of Educational Institutions, committed to a career-oriented educational project with a holistic and inclusive approach. This includes integrating AI, robotics, skills training, vocational education, and digital learning into the curriculum.

In the education space, he has also co-founded the Education First an ed-tech venture aimed at leveraging technology to provide world-class education at the grassroots. MOOCs on Introduction to Family Engagement in Education by Harvard University. MOOCs on The Future of Work: Preparing For Disruption by World Bank Group.

Banshi Vallabh Mishra’s entrepreneurial journey began under the aegis of the Conscient Group, where he provided strategic direction to various entities. His passion for education led him to co-found Education First, an ed-tech venture to leverage technology to provide world-class education at the grassroots level. This initiative reflects his belief that “One child, one teacher, one book, one pen can change the world.”

Despite the challenges posed by the recession, His initiatives have grown tremendously, transitioning from offline to online platforms to continue delivering quality education. His resilience and adaptability have been crucial in navigating these turbulent times, ensuring that education remains accessible to all.

Banshi Vallabh Mishra’s life lesson, “Together may we give our children the roots to grow and the wings to fly,” encapsulates his dedication to empowering the next generation. By providing strategic direction and innovative solutions, he hopes to inspire others to contribute to the betterment of society through education.

Looking ahead, he aims to build an education system that meets the highest global standards while being deeply rooted in Indian culture and ethos. His vision is to create a vibrant, knowledgeable society by ensuring higher quality education for all, ultimately making India a “Global Knowledge Super Power.”

Through initiatives like SHIKSHIT BHARAT SANKALP HUMARA, he is not just dreaming of a better future but actively working towards it. His efforts in education are a testament to his belief that holistic and inclusive education is the key to a brighter tomorrow.

In conclusion, a thorough professional with rich, in-depth, and extensive experience in the educational arena, a distinguished gentleman with deep-rooted values and ethics, a culturally inclined individual, with an admirable sense of social responsibility and is progressive in thought- Banshi Vallabh Mishra carries the Rishi Group of Educational Institutions legacy.