GGD Tech Discussion: 2010 Review, 2011 Predictions
October was about Crowdsourcing and how the wisdom of the crowds can shape a business and technology. I couldn't have hoped for a better result in terms of a balanced view from the perspectives of a those who facilitate collaboration and those who see it as a form of outsourcing.
Anyway, for November I wanted to go even further and ask women from all over the world to participate in a global discussion about tech. I even created a video which is unheard of because I am probably one of the most camera shy people you'll ever meet. But I did it because I think it'd be really cool to see and hear from a wide range of women in different disciplines and different industries. I think it's also interesting, having moved to Australia form Canada, to discover that there are small differences in what is trendy in tech from one country to another.
My 2010 tech review has to do with social media (because it's my area) and I think the fact that location software has become mainstream is the biggest trend. Being able to broadcast your location and receive friend's (and strangers) locations is very interesting.
My 2011 tech prediction is that privacy is going to become more important then ever as we become less and less autonomous. I like the idea of sharing where I am at any given time, but only with those who might need to know- or those I select.
It has been interesting to observe some of the reactions to Facebook's connect feature - a few friends use it a lot and one in particular was asked why he feels the need to "spam" everyone with his every move. I think this is case in point that not everyone needs to know that I just walked into Nando's in Richmond, but friends who live and work in the neighbourhood might like to know.
Digital media and web technology has always battled with relevance and semantics. Getting the right message to the right audience is the selling feature, but when things don't go according to plan the results are extremely costly. It's been recorded that marketers are ready and waiting to bombs us with ads the minute we start checking in more often. That could be the reason there remains to be only 4% of adults are using location software services.
*If you're a female working in tech GGDMelb wants to hear from you! Please create any type of content with your review and predictions and use the title GGD Tech Discussion: 2010 Review, 2011 Predictions. Find out more about our global discussion here.
Women in Tech Rule
OK, so it's not quite that women are dominating, but we are adding our own little 'touches'. It's no huge surprise to me that women are of the higher participants of social media - it's in our DNA to be more social then men. I've read from biological researchers that our socialisation is linked to our survival instincts.
Anyway, I'm glad that more women are finding their niche within digital technologies and I predict that once more women realise there's something in it for them we'll see a massive influx of women working in digital media.
A change that will improve things significantly because we can hear from both voices in equal volume. Publications such as Wired, are heavily male-centric - the articles are mostly gender-neutral, but the ads are assuming that only men are reading the mag; which is not the case.
I reckon women will be leading in the new roles associated with social media; which is very exciting. Roles such as: Online PR, Online Community Manager, etc.
Women in Business: The Art of a Solid Handshake
It led me to wonder - why is she reacting in this manner? At the end of the meeting she behaved the same way again, so I can only assume this is her reaction to shaking other women's hands. With my male co-worker she had no issue, but with me she was very awkward.
It could be that this is an isolated case, but in fact it's happened to me before. I think it's a confidence thing and perhaps a old-school attitude about women's role in business. It's like reverse sexism, or something.
There are "rules" to a good handshake - I don't really follow any of the traditional social etiquette. I just try to treat everyone the same. A solid, firm grip and a couple decent pumps of the wrist - that's really all I expect. I offer my hand when I introduce myself - I don't worry about who's more senior or junior or has what title.
I believe a person's handshake is an indication of their self-esteem. If you offer someone a limp, lifeless hand it tells them that you don't think very much of yourself and it can even give the impression that you don't respect them.
“Self-esteem isn't everything; it's just that there's nothing without it”
Meet Coder Barbie
I'd expect a woman in tech to have a multi-use outfit and nerd tools that would make MacGyver jealous.
Over half a million votes were cast to decide Barbie’s newest career. But even though Computer Engineer Barbie was developed in consultation with the Society of Women Engineers and the National Academy of Engineering, the new doll’s appearance has sparked controversy.
Read more about this at Mashable.
Women Set The Bar in Web Ventures
Great whitepaper by Illuminate Ventures. Based in the San Francisco Bay Area, the firm is targeting US-based high growth, capital efficient companies in selected sectors within the high-tech landscape.
High Performance Entrepreneurs: Women in High Tech – Summary
New research shows what many have long suspected: women entrepreneurs are poised to lead the next wave of growth in global technology ventures. The full report, prepared by Illuminate Ventures, documents the performance of women entrepreneurs in the past decade and the trends that are propelling them towards critical mass in the high-tech sector. Please register to receive the full 15-page paper.
- Efficiency, efficiency, efficiency: The high-tech companies women build are more capital-efficient than the norm. The average venture-backed company run by a woman had achieved comparable early-year revenues, using an average of one-third less committed capital.
- Big Progress in Recent Times: More women are serving as officers of venture-backed companies with successful exits. In 1988, only 4% of the 134 firms that went public in the U.S. had women in top management positions. Of 2009’s 19 high-tech IPOs, all but two had at least one woman officer.
- Fewer Failures: Despite often being capital-constrained, women-owned businesses are more likely to survive the transition from raw start-up to established company than the average.
- Expanded IP Contributions: From 1985 to 2005, the annual number of U.S. female-invented fractional software patents increased 45-fold – three times the average growth rate in that sector.
- Growing Influence in Tech: Women-owned or led firms are the fastest growing sector of new venture creation in the U.S., growing at five times the rate of all new firms between 1997 and 2006 – now representing nearly 50% of all privately held businesses.
- Venture-level Returns: In the past 10 years more than 125 companies with over 200 women co-founders or officers have achieved IPOs or >$50M M&A exits in the U.S. high-tech sector alone.
- Diversity Improves Performance: Organizations that are the most inclusive of women in top management achieve 35% higher ROE and 34% better total return to shareholders versus their peers – and research shows gender diversity to be particularly valuable where innovation is key.
- Financial Bottleneck: $1M+ woman led companies are twice as likely as those led by men to gain debt versus equity capital. In 2008 woman co-founded tech businesses gained less than 10% of venture investment in the high-tech sector while representing 30% of the workforce.
- Impact of Women Investors: Women now represent just over 15 percent of angel investors, but just 5%-7% of partner-level high-tech venture capital investors in the U.S. Firms with women investment partners are 70 percent more likely to lead an investment in a woman entrepreneur than those with only male partners.
The bottom line: More than ever before, women are influencing the face of business. They are on the cusp of becoming a leading entrepreneurial force in technology. As the global economy regenerates, new business models are needed to stimulate economic and job growth. Investors seeking to reinvigorate bottom-line performance and to favorably impact the entrepreneurial strength of our economy would be wise to support strategies that enable high-tech start-ups that are inclusive of women entrepreneurs.
Please Register Here to Receive The Complete Whitepaper
Here's another great read from my dear friend's at Mashable: Why Social Media Means Big Opportunities for Women