Tag: transparency

• Power to the people

  Bloomberg columnist Barry Ritholtz recently interviewed Richard Barton about his startup companies. Barton founded Expedia while he was an executive at Microsoft (Gates and Ballmer era) and then went on to cofound Zillow (real estate site) and Glassdoor (jobs site). 

  I’ve been following the work of Barton for many years now because I admire the common thread among his startups: They’re about bringing transparency to industries where transparency is lacking. I used to try and dissect his thinking when I was working on my own real estate/tech startup.

  I believe there’s still a lot of room for transparency in the real estate space, but that doesn’t negate the work that Barton has done. He’s all about using technology to bring “power to the people.” That’s a good thing.

  Click here to listen to the podcast.

  2017.07.31

• Going swimming (and being transparent)

  I woke up this morning to this view:

  

  I then went for a swim. The water tends to be on the cooler side in the Georgian Bay, but with the weather we’ve been having it’s pretty perfect right now.

  At this point I’m thinking about a beer and some reading. I have Capital in the Twenty-First Century by Thomas Piketty sitting in my car. It’s next in the queue.

  I am telling you all of this simply to be transparent. 

  Recently I had someone caution me that I should be careful about being too public and too open. I won’t get into specifics, but I was told that sometimes it’s better to just fly under the radar.

  I recognize that there have to be limits to transparency, but as a rule of thumb I subscribe to the opposite approach. When possible and when appropriate, I would rather be more, rather than less, transparent. 

  This blog is who I am. It’s indicative of how I think. And it discloses what I’m doing. So I don’t see a lot of downside. What you read is what you get. You’ll know if we should be friends and/or do business together.

  After I wrote about what I’m doing next I had a bunch of emails come in from various people telling me what they’re doing and, in some cases, suggesting that we work together. Some people had development sites that they thought I should take a look at. And some people immediately asked if I was hiring.

  I am grateful for each of those emails. But I also know that they’re an outcome of openness and transparency.

  2016.07.23

• 133 Wai Yip Street, Hong Kong

  Dutch architecture firm MVRDV recently converted an old industrial building in Hong Kong into new office space. The overall project size is roughly 200,000 sf. What’s unique about the project is the obsessive focus on transparency and glass.

  Here’s what the interior looks like:

  

  And here’s how the architect has described the project:

  “We are moving into a transparent society, businesses are becoming more open with the public, and people care more about what goes on behind closed doors. In that way, a clear workspace leaves nothing questionable, nothing hidden; it generates trust.” Tells MVRDV co-founder Winy Maas, “But also it is an opportunity for the building to become a reminder of the industrial history of the neighbourhood, monumentalised in a casing of glass.”

  I have written quite a bit about how I believe we are shifting towards a more transparent world – perhaps even a radically transparent world. And so it’s interesting to see an architect pick up on this broader theme and translate it into physical space.

  The floor is transparent. The partitions are transparent. The furniture is transparent. And you can clearly discern the interfaces between old and new.

  Good architecture, at least in my opinion, should reflect what is happening in our broader society. That’s why I believe that studying the history of art and architecture is really like studying the history of the world.

  For more photos of the project, click here.

  Image by Ossip van Duivenbode via MVRDV

  2016.06.04

• The benefits of sharing — what real estate could learn from tech

  One of the reasons I decided to start blogging was because I saw how open the tech community had become – with respect to sharing their ideas and experiences – and I thought that the same thing could and should be done in real estate, as well as in city building more broadly.

  But in many ways, the real estate industry is the antithesis of the tech industry. We are slow moving and secretive of our ideas. Now, some of this is driven by fundamental differences in terms of how these two sectors operate. It’s a lot easier to test and iterate on your ideas in tech than it is with actual bricks-and-mortar. But I still think about ways in which we, in real estate, could be pushing the envelope.

  As one example of what I’m talking about, take Union Square Ventures in New York. They call themselves a “thesis-driven venture capital firm”, which means they come up with a framework and core set of ideas, and then use those to drive their investment decisions.

  You would think that these frameworks and ideas would be pretty sensitive. I mean, they are the core drivers of their business. But their entire website is actually set up around sharing and collaborating – with the public – on these ideas. Here’s a screenshot:

  

  Each topic is something they are “thinking about” and something they want to make an investment in (or already have). Fascinating.

  Many of you, I’m sure, would argue that there are risks to doing this. But there are also benefits, some of which are driven by collective intelligence. By sharing their ideas and hypotheses with the public, it helps to evolve their thinking. After all, their investment thesis is not a static thing. It grows over time.

  But in addition to this, it also makes it abundantly clear to their customers (entrepreneurs) what they believe in and what they look for. And I am sure this helps them with deal flow. More and more customers aren’t just “buying” a product, they are also “buying” a philosophical underpinning and belief system.

  Can you imagine a real estate firm doing something like this? I can. But it’s not happening yet, as far as I know.

  2015.12.22

• My blogging methodology

  I often get asked about the methodology behind my blogging. (Though I have written a few posts about it already.) 

  Most people seem to assume that I sit down on the weekends. Draft a content calendar. Write a bunch of posts. And then queue them up for the coming weeks. 

  I don’t do any of that (besides sit down).

  Instead, I get up every morning and I write something. Sometimes I wake up with an idea that’s been bouncing around in my head and sometimes I wake up with no idea what I’m going to write about. 

  In the latter case I just start reading the internet over breakfast until something interesting catches my attention.

  But in both cases, what you are reading about is what I am thinking about at that moment in time. 

  Because in addition to a blog about cities, this blog is about a discipline and a habit. It is about taking time every day to step away from tasks, sort through my thoughts, and write something. It’s one thing to think about something; it’s another thing to write about it.

  And so as much as I hope you all get value out of this blog, it also very much about the personal benefits I receive from doing this same thing over and over and over again.

  Now, in terms of the content, the focus is obviously on city building. But I’m more specifically interested in the following 3 areas and their overlap:

  

  If you’re a regular reader you know this.

  I didn’t set out to focus in this way, but it just happened over time. This is what I’m passionate about and so I naturally started applying it to our discussion on cities and city building.

  And finally, in terms of writing style, I’ve found myself adopting a particular structure.

  I often start with a personal note – almost as if this were purely a personal blog. Then I dig into a particular city building issue and try to uncover one particular way of looking at it. And then I end with a decisive position. I’ve seen this format on other blogs and I really like it.

  Obviously I don’t always follow this structure. For example, sometimes I haven’t made up my mind on a particular issue. But I try to. I lean towards the belief that a decisive wrong answer is better than a wishy washy right answer. So I push myself to take stances and have an opinion. 

  But in the end, the goal of every post is simply to present one idea for all of us to think about and then discuss. I’d like to believe that it keeps us all sharp. Hopefully it’s working for you.

  2015.11.17

• A Spanish social media town

  I am a big fan of Twitter.

  I use it more than any other social network and any other app on my phone (according to my battery usage). In fact, I’m such a fan that I recently started buying shares. I don’t own a lot and the Canadian-US exchange is awful right now, but I do plan to continue buying (I like dollar cost averaging).

  Twitter isn’t the darling of Wall Street like Facebook is. And I think the biggest weakness of Twitter is that it’s difficult for new users to really “get it.” Facebook solved this problem early on by recognizing that new users had to connect with X number of friends right away so that they received value immediately and the next time they visited.

  But I digress. That’s not the focus of this post.

  This morning a friend shared a Medium article with me that was written by the Laboratory for Social Machines at MIT. The article is about a small town in Spain called Jun (pronounced “hoon”) that has transitioned to using Twitter as the dominant platform for communication between government and citizens.

  The initiative first launched in 2011 and since then the mayor, José Antonio Rodríguez Salas, has been trying to get every resident onto Twitter. All 3,500 residents are even encouraged to go into the town hall to have their Twitter accounts verified. This way government employees know for sure that they’re dealing with an actual resident of the town.

  Here’s a simple example of what this means for government-citizen relations (the folks at MIT translated everything to English):

  

  In the above example, a citizen tweeted the mayor informing him that a street lamp was out. The mayor then responded, tagged an electrician, and said it would be fixed the following day. Sure enough the electrician went and fixed it the following day, and then tweeted out a photo of the lamp.

  This is great. And Twitter was made for these kinds of interactions. Facebook was not.

  Here in Toronto we have @311Toronto, which I have tweeted many times before with problems and they do respond quickly (far quicker than if you try and call them). But I still think there’s room for us to improve transparency and engagement across the board.

  All of this is a perfect example of how technology and cities are colliding in a big way. In today’s world I really think you need to be able to think across disciplines.

  2015.08.01

• Why I write something every single day, even if it’s garbage

  I was out for brunch last weekend with a few close friends from high school. It’s a “monthly reunion” that happens nowhere close to every month. But the hope is certainly there.

  During brunch the topic of my blog came up. And one of my friends asked me how I got started and how the hell I keep up with one blog post every single day. (I get that second question all the time.)

  I’ve written about this before, but I think it’s worth revisiting.

  Earlier this week venture capitalist Fred Wilson wrote a post on his blog called The Blank Screen. And I really liked how he described the experience of writing a daily blog post:

  Sometimes this process produces great insights for me and possibly others. Sometimes it produces garbage. But I’ve come to realize that the daily post, and its quality or lack thereof, is not really the thing. It is the ritual, the practice, the frequency, the habit, and the discipline that matters most to me. And, I would suspect, the same is true of the readers and commenters who frequent this blog.

  Fred’s blog was a major source of inspiration for me. I saw him doing it. I saw the value he was getting out of it. And I wanted to do it too. So I did, almost 2 years ago. 

  But he also inspired me in another way.

  Venture capital and real estate development share many similarities in my mind, even down to the way that deals are often structured with preferred returns and promotes.

  But the interesting thing about venture capital is that it went from a largely closed and “ivory tower” kind of industry to now one where almost every venture capitalist blogs, tweets, and strives for greater transparency (when possible).

  I thought this was a fascinating shift and it made me think that the exact same thing was bound to happen in real estate development. So I am trying to make that happen. Hopefully this blog is helping.

  2015.06.20

• Value creation, transparency, and authenticity

  

  Ideas by Janet Kwan on 500px

  https://500px.com/embed.js

  I started writing this blog a year and 10 months ago. 

  At that time, I had no real title for it (it was just called “Cities”) and I had no idea where it was going to take me. All I knew was that I enjoyed the discipline of writing every day and that I wanted to talk about cities and city building. It was a way for me to neatly organize all of my passions – which span everything from architecture and real estate to technology and transportation.

  Since that time, this blog got a name (Architect This City). It was named by the Guardian (UK) as one of the best city blogs in the world. I’ve met an incredible array of different people (send me an email if you like coffee and are doing cool things). I get invited to comment on city building issues on a regular basis. And an incredible community of almost 10,000 daily readers has emerged (you can email subscribe here).

  A big thank you to everyone who reads and contributes to ATC.

  But over the course of writing this blog, something else unexpected happen. I started getting referred to as a “brander, marketer, and content creator.” Now, I’ll admit that I’ve become increasingly interested in these fields over the years, but it was certainly not something I thought of or could have predicted at the outset.

  What really happened though is that I simply started riding a wave that arguably took hold sometime around the mid-2000s and then focused my attention on an industry that has historically been slow to change (real estate). And that wave is the shift towards inbound marketing (as opposed to outbound or interruption marketing).

  If you’re a marketer, this is old news. You already know this. But I think there’s still lots of room for this to take hold in the real estate industry. So let’s talk about it a bit.

  To give you an example from outside real estate, take a look at Five O’ Clock magazine by Harry’s. Harry’s is a shaving company out of New York that offers moderately priced well-designed shaving supplies for men. It’s simple model that works very well.

  Their positioning has been around the idea of “Own Your AM”, which makes sense given that they are a shaving company. And so what they often do in their Five O’ Clock magazine is profile the mornings of interesting people, such as professional skier Jimmy Chin (who happens to live in one of the best places on earth).

  But if you do a search for the word “shave” in that Chin article, you won’t find it. Because it’s not about just creating content so that you can plug your business at every opportunity; it’s about creating value for your customers and building a relationship.

  And that’s really fundamental to the change I’m talking about. 

  Today, the marginal cost of reaching your customers has dropped to almost zero (even if you’re reaching out to them on a one-on-one basis over, say, social media). And so the opportunity exists for companies, brands, and individuals to do things that simply weren’t feasible before.

  Because of this, it is now possible for everyone to easily establish their own personal brand. I think we’re going to see more, not less, of that. And it has changed how we message and communicate – whether it be via blogs, social media, or online magazines.

  In my view it comes down to 3 considerations: value creation, transparency, and authenticity. If you can create value for your target audience and be transparent and authentic, you’re going to naturally draw people in. I try and do all of that on this blog and hopefully it comes through.

  2015.05.06

• Towards more publicness

  Back when the commercial internet first started to take off it was uncommon to use your real name online. Instead people relied on usernames and other pseudynoms to represent themselves. I honestly can’t remember what I used in those days, but I’m sure it was something ridiculous.

  Over time though that started to change. 

  Blogging started to take off in the late 1990s. And we started to become more comfortable sharing personal information online. Perhaps the biggest shift though, came with the introduction of Facebook in 2004 (over 10 years ago!). All of a sudden people – young college students initially – started sharing lots of personal information online, including photos of themsleves and their friends.

  But this wasn’t an overnight change. When Facebook first launched, privacy was an important component. It still is, but I would argue that it has become less central given how public a lot of other social media platforms are today. Twitter, for instance, is what it is today largely because of its publicness. 

  For my own social media accounts, I have made every single one of them completely public. From Twitter to Facebook to Instagram to Snapchat, nothing I post to social media is restricted in any way. And I do that because I believe we are headed towards a world with more – not less – openness, transparency and publicness.

  Of course, I’m not just talking about social media and tech. I’m talking about open data in general.

  Earlier this year, the Toronto Real Estate Board clamped down on real estate brokers who were publishing historical sales data online. Citing privacy concerns, TREB ordered them to stop or lose their access to the MLS system. 

  For those of you not from familiar with the Toronto real estate market, historical sales data for homes is not open and published online. You generally need to go through a realtor to get access to this data. Some think this is the right approach. And others think it is antiquated.

  But as I explained above, our conception of what should be private can, and will, evolve over time.

  Here are the details on my home:

  I purchased it in September 2012 for exactly $400,000 (Canadian). It’s a 650 square foot condo in the St. Lawrence Market neighborhood of Toronto. It has one bedroom, a 400 square foot terrace, one parking spot, and 10′ ceilings.

  Sooner or later, I believe this information will be freely available online. But since that’s not the case today, I figured I would just tell you. Sharing this information is not a big deal for me.

  2015.03.25

• True Condos Podcast: Transparency in the Real Estate Industry

  A few weeks ago I was invited by Toronto realtor Andrew la Fleur to participate in his True Condos podcast series. I had actually never met Andrew before in person, but I knew of him because of Twitter, his blog, and because he was an early user of my past startup, Dirt.

  I was initially a bit apprehensive about being on a realtor podcast, because I thought it might end up as some sort of cheesy marketing piece. But I’ve come to learn that Andrew is not that kind of guy. He’s also interviewed some really great people in his podcast series (here’s the full list), so I feel honored to have been invited. 

  I’ve embedded the podcast below, but if for whatever reason you can’t see it, click here to be redirected to Andrew’s site. We talk for about 30 minutes, with a big focus on openness and transparency in the real estate industry. Thanks again for the invite Andrew. It was great to meet you in person.

  http://www.podbean.com/media/player/audio/postId/5289048?url=http%3A%2F%2Ftruecondos.podbean.com%2Fe%2Fbrandon%2F

  2014.09.23