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Best Buy understands that its future is smaller. The slow demise of the Big Box store will encourage the retail giants to pare down their store size and accommodate a store format that will fit in smaller urban locations and sell fewer SKUs. Additionally Best Buy has experienced a reduced demand for floor space due to the digitization of music and now computer software as well as an increasing propensity for consumers to shop online. Perhaps RadioShack will experience a revival of its once ubiquitous electronics goto shop, but I think a resurgence would require a re-branding effort on their part.

“The dispute is also a reminder that free services such as Facebook and Google come with a price. Consumers need to keep a truism in mind: If you’re not paying for the product, then you’re not the customer—you’re the product being sold. Social media services such as Facebook take advantage of data that consumers disclose about themselves to enable advertisers to deliver ever more targeted marketing to them.” – WSJ

Thank you, Wall Street Journal for reminding consumers not to complain when Facebook changes the user interface because the service provided is FREE and an individual is not required to use the site. Users can and should provide feedback, but should not complain about information privacy which was willingly provided.

Does LinkedIn have a future? Todays Wall Street Journal had an article outlining LinkedIn’s public listing and whether the company’s IPO is overvalued. I personally think that LinkedIn does not have potential for expontential revnue growth to justify 200 times earnings valuation. The service provided is differentiated in that it provides a professional networking platform for the workplace which is something that Facebook does do a good job of; however I think that LinkedIn is just a tool for networking opposed to Facebook which serves as a complete social networking platform and could eventually overtake LinkedIn as future generations grow up using Facebook. LinkedIn’s investors are heading to the exit because they see the writing on the wall that the LinkedIn’s future is limited. If LinkedIn anticipates future revenue growth, I have a hard time seeing what avenue they will take. I don’t think they will succeed by placing more advertising or superfluous gimmicks since most of its users view it simply as a utility.

LinkedIn – Wall Street Journal Article

Do people scan QR codes. I wanted to test a theory as to whether people actually scan QR codes or they just see them as mere advertising trash, and graffiti. I processed a new QR code which linked to an amazon account that sells Nicotine Gum and stuck the code under No Smoking signs around Boston. Typically an individual smoking can be seen clicking away on their phones, so my idea was to place a code in an area where smokers would most likely be located. I managed to collect a handful of code scans which prooved the concept to be successful, but this could have been due to the location in which the codes were placed.

As part of my entrepreneurship course, we were challenged with creating a concept to solve a problem that would help 1 billion people or generate 1 billion in revenue. At first this seemed like a difficult challenge; however once my team was able to determine a global problem to solve we were able to generate hundreds of solutions. Our original plan was to solve the problem of affordable housing, and at first this appeared to be a very broad topic because we did not specify region or too causes for this problem. Once we determined that our focus would be the US we were able to figure out root causes of affordable housing a few of which were: transportation costs, jobs, family size, food prices. From the root causes we discovered that by thinking big first and then narrowing our focus we were able to generate more creative and innovative ideas. During a brainstorming session the idea of homeless was brought up and the rapidly changing landscape of monetary transactions would reduce collections of panhandlers. Panhandlers have relied on tangible currency for as long as there has been a form of money, and now there is potential disruption on the horizon by the increasing reliance on digital transactions and or credit cards. Our problem then became how do we enable panhandlers to continue collecting donations? Our solution was a QR code which would be linked to an shelter where an individual would have to check in to redeem the donations on a debit card. The purpose of incorporating a shelter would provide validity to the individual collecting donations as well as structure and support to monitor the way which the donations would be spent. The structure and support would help the individual obtain the resources to move off the streets and be self-supporting.

This was the original concept which was passed around by email.

Has Virgin provided a succeful design for the airport terminal of the future? After reading PSFK’s outline of how Virgin’s Airline will retrofit airport terminals, I believe Virgin has successfully provided a space which will attract a new generation of flyers. In an attempt to satisfy the demands of a new generation who are mobile and always connected, Virgin has provided a space where a connection will always be available as well as a connection to interact with Virgin’s social media prescense. The space provided also escapes the historically drab terminals and incorporates a warm wooden aesthetic as well as a presence of technology. The underlying message that Virgin is trying to project is its understanding and ability to comfort a new generation of tech savy individuals.

http://bit.ly/jPdo6W

I’m certain that Pepsi has jumped onto the social media bandwagon to appeal to the new generation of consumers entering the workforce with a propensity to consume and trust the interaction with Pepsi through social media.

http://bit.ly/jZyXwJ