Hövding – a Swedish company best known for its radical airbag cycling helmets (definitely check these out) – is currently crowdsourcing unsafe conditions and cyclist frustration in London.
Working with the London Cyclist Campaign, they distributed 500 yellow handlebar buttons. Cyclists were then instructed to tap these buttons whenever they felt unsafe or frustrated with current cycling conditions.
Here’s what the button looks like:
Every time the button is hit, the data point gets logged to a public map and an email gets sent to the Mayor of London reminding him of his promises around cycling. Both of these things happen via the rider’s smartphone.
Here’s what the public map looks like at the time of writing this post:
Not only does it tell you pain point locations, but it also seems to suggest the primary cycling routes. I think this is a brilliant initiative because, it’s entirely user-centric. It’s telling you how people feel on the ground.
Supposedly, Hövding is actively looking for other cyclist groups around the world to help them distribute their buttons. So if you’re a group in Toronto or in another city, I would encourage you to reach out to them. The more data the better.
In 1960, real estate investment trusts were created in the U.S. with the goal of democratizing real estate ownership. Here’s how Yale professor Robert Schiller described it:
“REITs were created by law in 1960 to democratize the real estate market and make it possible for a broad base of investors to participate in this huge asset class. That was absolutely the right thing to do, because portfolio theory tells us people should diversify across major asset classes, and real estate is one of them.”
But a lot of things have changed since 1960. We now have the internet.
And one of the things that the internet is very good at is creating peer-to-peer networks that connect supply and demand without the same kind of intermediaries. This could be people who have MP3s with people who want MP3s or it could be people who have real estate with people who are looking to invest in real estate.
So with the advent of crowdfunding in both the U.S. and Canada, I think we are at the dawn of another era of real estate democratization. Already we have seen the first crowdfunded real estate development project and it happened at a much smaller and local scale than is usually the case with REITs.
Similarly, we are also seeing companies emerge – such as HomeUnion in the U.S. – that allow people to build their own rental portfolios by directly investing, either fully or partially, in real estate. Again, there are differences here compared to how REITs typically operate.
When I was in grad school at Penn and Sam Zell used to come in and talk to the students, he used always mention how when he started out in real estate (1960s) the industry was disproportionately controlled by a small number of players. That’s been changing ever since and it looks like that trend will only continue.
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