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Picatic – the Kickstarter of event ticket sales

Picatic has the DNA of Kickstarter, a ticket sales company, with a touch of airline ticket sales structure, taking the major pain points out of event organizing for an entire industry. Disruption appears to be the name of their game.

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Kickstarting the event industry

The primary pain point for any event organizer is the risk of putting on an event and assuming all of the up front costs to secure a venue, advertise, procure speaking talent, bringing on event staff, and selling tickets. It appears easy, which is why so many jump into the space, but the risks do not always meet the rewards and companies often take a loss on their events.

Picatic.com was developed by a team of event talent that first created a traditional ticketing company that has done very well, but has expanded into an innovative new vertical to solve the problem of risk for event organizers by changing how people purchase tickets for events and the platform “guarantees successful events,” the company says.

Everything from a photography class to a large concert can be served through Picatic, and like Kickstarter.com, a certain goal of revenue is set by the event organizer, and if that goal is met, they are obligated to host the event, and if not enough tickets are sold, they are not obligated to go forward with the event, which is how the company seeks to eliminate the risk, as buyers know they may or may not get their desired event, which adds to the demand, as it encourages attendees to campaign for events they want to attend.

So let’s say you wanted to host a class on how to build tables. You get a customizable event page to promote across your social networks and email, and the system allows you to collect money and manage the event in real time. So you say you want to sell 25 tickets at $20 each, and your goal is to do so by the week prior to your class. If you hit your goal, you’ve made your sales and made the event worth it, and if you fail to hit your goal, you have the option to cancel the event and not take a loss on it, thus taking the guess work out of it.

Add in a layer of airline ticket sales flair, and you have magic

Picatic CEO, Jayesh Parmar tells AGBeat that the idea is to not only de-risk events, but to empower consumers who get to vote with their dollars. Additionally, the company creates urgency through price segmentation so that early sales are incentivized and prices increase as the event nears or as a certain amount of tickets have been sold, so it functions like airline ticket sales or even concert arena tickets, with the best deals going to the early buyers.

The company hinted that their next release could be a LinkedIn for event professionals to introduce relevancy to all of the connections the industry typically keeps private, opening opportunities for event organizers, especially when going into a new market.

Parmar notes that the Kickstarter plus airline ticket sales method improves the forecasting of any event host, and their commission is comparable to any ticket sales company (averaging 2.0 to 4.0 percent on a sliding scale). The San Francisco based company has been a bootstrapped organization that recently moved from Canada to the Valley – we expect they will be funded in the 2012 calendar year, as their overhead seems to be low and revenue high.

Marti Trewe reports on business and technology news, chasing his passion for helping entrepreneurs and small businesses to stay well informed in the fast paced 140-character world. Marti rarely sleeps and thrives on reader news tips, especially about startups and big moves in leadership.

Tech News

3 cool ways bug-sized robots are changing the world

(TECH NEWS) Robots are at the forefront of tech advancements. But why should we care? Here are some noticeable ways robots are changing the world.

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Bits of robots and microchips changing the world.

When we envision the robots that will (and already are) transforming our world, we’re most likely thinking of something human- or dog-sized. So why are scientists hyper-focusing on developing bug-sized (or even smaller!) robots?

Medical advances

Tiny robots could assist in better drug delivery, as well as conduct minor internal surgeries that wouldn’t otherwise require incisions.

Rescue operations

We’ve all heard about the robot dogs that can rescue people who’ve been buried beneath rubble or sheets of snow. However, in some circumstances these machines are too bulky to do the job safely. Bug-sized robots are a less invasive savior in high-intensity environments, such as mine fields, that larger robots would not be able to navigate without causing disruption.

Exploration

Much like the insects after which these robots were designed, they can be programmed to work together (think: ants building a bridge using their own bodies). This could be key in exploring surfaces like Mars, which are not safe for humans to explore freely. Additionally, tiny robots that can be set to construct and then deconstruct themselves could help astronauts in landings and other endeavors in space.

Why insects?

Well, perhaps the most important reason is that insects have “nature’s optimized design”. They can jump vast distances (fleas), hold items ten times the weight of their own bodies (ants) and perform tasks with the highest efficiency (bees) – all qualities that, if utilized correctly, would be extremely beneficial to humans. Furthermore, a bug-sized bot is economical. If one short-circuits or gets lost, it won’t totally break the bank.

What’s next?

Something scientists have yet to replicate in robotics is the material elements that make insects so unique and powerful, such as tiny claws or sticky pads. What if a robot could produce excrement that could build something, the way bees do in their hives, or spiders do with their webs? While replicating these materials is often difficult and costly, it is undoubtedly the next frontier in bug-inspired robotics – and it will likely open doors for humans that we never imaged possible.

This is all to say that in the pursuit of creating strong, powerful robots, they need not always be big in stature – sometimes, the tiniest robots are just the best for the task.

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4 ways startups prove their investment in upcoming technology trends

(TECH NEWS) Want to see into the future? Just take a look at what technology the tech field is exploring and investing in today — that’s the stuff that will make up the world of tomorrow.

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Woman testing VR technology

Big companies scout like for small ones that have proven ideas and prototypes, rather than take the initial risk on themselves. So startups have to stay ahead of technology by their very nature, in order to be stand-out candidates when selling their ideas to investors.

Innovation Leader, in partnership with KPMG LLP, recently conducted a study that sheds light onto the bleeding edge of tech: The technologies that the biggest companies are most interested in building right now.

The study asked its respondents to group 16 technologies into four categorical buckets, which Innovation Leader CEO Scott Kirsner refers to as “commitment level.”

The highest commitment level, “in-market or accelerating investment,” basically means that technology is already mainstream. For optimum tech-clairvoyance, keep your eyes on the technologies which land in the middle of the ranking.

“Investing or piloting” represents the second-highest commitment level – that means they have offerings that are approaching market-readiness.

The standout in this category is Advanced Analytics. That’s a pretty vague title, but it generally refers to the automated interpretation and prediction on data sets, and has overlap with Machine learning.

Wearables, on the other hand, are self explanatory. From smart watches to location trackers for children, these devices often pick up on input from the body, such heart rate.

The “Internet of Things” is finding new and improved ways to embed sensor and network capabilities into objects within the home, the workplace, and the world at large. (Hopefully that doesn’t mean anyone’s out there trying to reinvent Juicero, though.)

Collaboration tools and cloud computing also land on this list. That’s no shock, given the continuous pandemic.

The next tier is “learning and exploring”— that represents lower commitment, but a high level of curiosity. These technologies will take a longer time to become common, but only because they have an abundance of unexplored potential.

Blockchain was the highest ranked under this category. Not surprising, considering it’s the OG of making people go “wait, what?”

Augmented & virtual reality has been hyped up particularly hard recently and is in high demand (again, due to the pandemic forcing us to seek new ways to interact without human contact.)

And notably, AI & machine learning appears on rankings for both second and third commitment levels, indicating it’s possibly in transition between these categories.

The lowest level is “not exploring or investing,” which represents little to no interest.

Quantum computing is the standout selection for this category of technology. But there’s reason to believe that it, too, is just waiting for the right breakthroughs to happen.

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Will AI take over copywriting roles? This tool hopes to make that a reality

(TECH NEWS) CopyAI hopes to give copywriters a run for their… well, WPM. But how much can AI fully replace copywriting skills?

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Hands typing on a laptop, working on copywriting piece.

Copywriting is an important trade. Writers are often able to breathe life into otherwise formulaic websites peddling products which, sans the copy from those writers, might very well suffer a fate of relative obscurity. However, copywriters are also expensive, and their duties—indispensable as they may be—can be replicated fairly easily by little more than basic machine learning.

The question is this: Can AI replace copywriters? That’s a question that CopyAI hopes to answer with a resounding “yes”.

CopyAI is an “AI powered [sic] assistant for writing and brainstorming marketing copy.” This makes it a powerful tool to complement human writing, at the very least; is it enough to put people like me out of a job?

From my experience with the tool, no—at least, not yet. CopyAI can’t create an engagement strategy, respond to customers, spin testimonials to evoke heart-felt reactions, or analyze its own trends.

But that doesn’t detract from how freaking cool it is in practice.

CopyAI asks for very little from its user. Upon selecting a style of copy—Facebook Market, website carousel, or even page header, for example–you are prompted to enter the title of your product and a couple of short sentences describing it in the context of your ad. CopyAI does the rest, and while the results can be hilariously out of touch, you’re able to pick the ones that sound the most like your desired copy and then generate more options that sound similar.

The service has a huge number of different options for advertisement types, and you can use multiple different copy projects in one specific campaign.

Naturally, CopyAI has a few flaws, most of which replicate the problems we’ve seen with machine learning-based writing in the past: It doesn’t sound quite human enough to be comfortable. However, that’s a problem for a skilled copywriter to solve—and quickly, thus making something like CopyAI a potentially preferable choice for mass copywriting.

So, again, we ask: Is there a way for CopyAI to replace copywriters entirely in the future? Probably not. The copy it produces is intriguing, and often close enough that underfunded campaigns might find some value in using it short-term, but it doesn’t have the punch that a real person can pack into an advertisement.

That said, combining CopyAI with a small team of copywriters to reduce burnout—and repetition—could make for some very efficient work on the back end.

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