1. An algorithm that takes Netflix selection to recommend movies and shows to your personalized taste.
2. The "who" is Netflix users who also have a hard time finding movies and shows. The "what" is to make an app that better identities what you like and dislike. The "why" is to be able to get the most out of these steaming platforms.
3. My opportunity will be a new algorithm for the Netflix streaming platform, the algorithm will be like the ones you see on tinder or such online dating apps. It will require you to like and dislike movies you have seen and based on this feedback will be able to recommend you movies that you would like, the more you interact with the app the better it gets to know you. This opportunity will be available to those individuals who use Netflix but just like me find it very hard to find new shows or movies that I am interested in since there is so much to choose from, I would like it to be narrowed down a little bit to my particular taste.
Interview 1. The first person I interviewed was my little sister, I asked her what she thought about an app that allows you to easily pick a movie or show based on what you have previously said you liked and disliked, she said that she might use it but doesn't know how long it will take for the algorithm to actually register what you like and give you recommendations. I asked if she thought it was useful and she said that it could be if applied correctly. I asked if she would use it and she said she would.
Interview 2. I interviewed my roommate, I know he loves Netflix and has watched a lot of random shows and movies just out of boredom. I started off by explaining how the app will work and he actually thought it was a great idea, he has seen so many things on Netflix that he would rate them and then the app will give him recommendations on what he will actually like and not spend time watching something that he doesn't particularly like. I asked if he thought people would use the app and he said that he would use it and doesn't see why people wouldn't use it, the only thing he suggested is once the app recommends movies that the app should be able to retrieve the Netflix link for you to play the shows or movies
Interview 3 - I interviewed a friend, I asked where and how he chooses movies to watch. The response was Netflix or theaters but since the virus, it has solely been Netflix. He chooses movies by what is trending or what friends recommend. I explained how the app would work and he thought it would be a good idea as well. I asked if he could think of anything that would make the app better and he said that it has to be very user friendly, and intuitive if it lacks these things then the app will not be successful.
Interview 4 I interviewed a coworker, I started off with how she chooses shows to watch on Netflix and she said that she usually just browses around and watches the trailer, and I told her about my app but I made it seem like it was already out and she should try it and she said it was a great idea that she spends more time looking for a movie or show than actually watching anything.
Interview 5 I interviewed my manager, I pitched him the idea of the app immediately and asked what he thought and if he would use anything like that. He told me that Netflix already has this feature it's just not widely known or used but after a movie or show it gives you the thumbs up or thumbs down on whether you liked it or not. I did not know this but thought to myself if I didn't know this then I doubt many other people know it either.
In my 5 interviews, I came to the conclusion that an app like this would be very useful since it really is difficult to find a movie that you would like. I know that the app now has to be intuitive and very easy to use for people to want to use a 3rd party app for streaming. My who, what, and why have not changed and I know there is still a demand for this kind of app.
Friday, May 29, 2020
6A - Identifying Opportunities in Economic & Regulatory Trends
Opportunity 1 - The first article is Netflix: Coronavirus Cements The Company as Untouchable, the article describes how before the coronavirus the company was looking at some very tough competitors such as those of Disney Plus and the Apple streaming platform. But thanks to the virus the company has only solidified itself as the best streaming platform in the industry. I believe now more than ever it is time to invest in Netflix, as things will only look up for the company. I think that anyone who can read this article and do some basic research on how the companies stock has only increased during this pandemic can also come to the conclusion that this company is the biggest in the game.
https://www.forbes.com/sites/bethkindig/2020/04/25/netflix-coronavirus-cements-the-company-as-untouchable/#209a0c31d94c
Opportunity 2 - In the article Disney World to Reopen in Mid-July we take a look into the Disney parks in Florida. The company is set to open again in mid-July, this creates opportunities for jobs for the people who were laid off and those who are currently looking for jobs. This opportunity is very apparent and can be seen from a mile away. I think it will be a hard opportunity to exploit as there is a lot of demand for work right now so the competition will be high.
https://www.usnews.com/news/national-news/articles/2020-05-27/disney-world-to-reopen-in-mid-july
Opportunity 3 - In the article Executive order takes aim at social media companies, Donald Trump signed an executive order this week as the first-ever fact check appeared on his tweets, this also comes from the video of Geroge Floyd being wrongly arrested and murdered by the police. This is an opportunity for the people to fight back and not have their social media limited to what the government wants us to see or thinks is okay to be on there, yes the video is graphic but it is the sad truth in the times we live in, censoring that will only leave the American public even more in the blind. This opportunity is obvious and should be taken with outrage, we should not allow this to happen.
https://www.cbsnews.com/news/trump-executive-order-social-media-platforms-section-230/
Opportunity 4 - The article States Are Reopening, But Many Americans Say They Aren’t Rushing Back To Normal Life, is the economy trying to reopen. Many states are now reopening and allowing businesses to operate in certain capacities allowing work to finally come back. This opportunity is apparent and slowly the American public will go back to going out and eating out. This opportunity of low demand should be the time to take advantage and invest in companies that have been affected by the virus.
https://fivethirtyeight.com/features/states-are-reopening-but-many-americans-say-they-arent-rushing-back-to-normal-life/
https://www.forbes.com/sites/bethkindig/2020/04/25/netflix-coronavirus-cements-the-company-as-untouchable/#209a0c31d94c
Opportunity 2 - In the article Disney World to Reopen in Mid-July we take a look into the Disney parks in Florida. The company is set to open again in mid-July, this creates opportunities for jobs for the people who were laid off and those who are currently looking for jobs. This opportunity is very apparent and can be seen from a mile away. I think it will be a hard opportunity to exploit as there is a lot of demand for work right now so the competition will be high.
https://www.usnews.com/news/national-news/articles/2020-05-27/disney-world-to-reopen-in-mid-july
Opportunity 3 - In the article Executive order takes aim at social media companies, Donald Trump signed an executive order this week as the first-ever fact check appeared on his tweets, this also comes from the video of Geroge Floyd being wrongly arrested and murdered by the police. This is an opportunity for the people to fight back and not have their social media limited to what the government wants us to see or thinks is okay to be on there, yes the video is graphic but it is the sad truth in the times we live in, censoring that will only leave the American public even more in the blind. This opportunity is obvious and should be taken with outrage, we should not allow this to happen.
https://www.cbsnews.com/news/trump-executive-order-social-media-platforms-section-230/
Opportunity 4 - The article States Are Reopening, But Many Americans Say They Aren’t Rushing Back To Normal Life, is the economy trying to reopen. Many states are now reopening and allowing businesses to operate in certain capacities allowing work to finally come back. This opportunity is apparent and slowly the American public will go back to going out and eating out. This opportunity of low demand should be the time to take advantage and invest in companies that have been affected by the virus.
https://fivethirtyeight.com/features/states-are-reopening-but-many-americans-say-they-arent-rushing-back-to-normal-life/
5A - Identifying Local Opportunities
Opportunity 1 - In the article "Boca Raton approves $500K small business recovery program" the city has now approved 500k small business relief package for businesses that have been struggling due to the Covid-19 virus. The relief will give up to 5,000 to each business to request for the aid, it is on a first come first serve basis. The problem is people who have small businesses and need this money and perhaps even more since they have had to close their businesses due to this virus.
https://www.wptv.com/news/region-s-palm-beach-county/boca-raton/boca-raton-approves-500k-small-business-recovery-program
Opportunity 2 - In the article "Palm Beach County organizations helping to feed families this summer" small organizations are helping the community by providing every week since about 19 percent of children in palm beach county will or have gone hungry since 2019. This opportunity will allow innocent children to not to go sleep hungry.
https://www.wptv.com/rebound/palm-beach-county-organizations-helping-to-feed-families-this-summer
Opportunity 3 - In the article "South Florida community leaders react to the killing of George Floyd" change is coming. This change will be to policies practices to ensure something like that never happens again and let alone in the state of Florida. This opportunity is for anyone who could be innocently accused and arrested, to ensure that they will be treated with the respect they deserve.
https://www.wptv.com/news/region-c-palm-beach-county/south-florida-community-leaders-react-to-the-killing-of-george-floyd
Opportunity 4 - In the article "Half a million dollars of help for Palm Beach County nonprofits" the city just approved a half a million aid for nonprofits. Each nonprofit will be granted up to a check of six figures to continue allowing to change the community. This opportunity is great for individuals who run a nonprofit and have been finding it very difficult to find funds in these tough times.
https://www.wptv.com/news/region-s-palm-beach-county/delray-beach/half-a-million-dollars-of-help-for-palm-beach-county-nonprofits
Opportunity 5 - In the article "West Palm Beach prepares for hurricane season during coronavirus pandemic" the city is now advising the citizens of the cities to start thinking about the hurricane season that is right around the corner. With a forecasted very active season in store for us, it is crucial that we prepare. Anyone in Florida benefits from these articles and advisories as it gives us ample time to prepare.
https://www.wptv.com/news/region-c-palm-beach-county/west-palm-beach/west-palm-beach-prepares-for-hurricanes-during-a-pandemic
https://www.wptv.com/news/region-s-palm-beach-county/boca-raton/boca-raton-approves-500k-small-business-recovery-program
Opportunity 2 - In the article "Palm Beach County organizations helping to feed families this summer" small organizations are helping the community by providing every week since about 19 percent of children in palm beach county will or have gone hungry since 2019. This opportunity will allow innocent children to not to go sleep hungry.
https://www.wptv.com/rebound/palm-beach-county-organizations-helping-to-feed-families-this-summer
Opportunity 3 - In the article "South Florida community leaders react to the killing of George Floyd" change is coming. This change will be to policies practices to ensure something like that never happens again and let alone in the state of Florida. This opportunity is for anyone who could be innocently accused and arrested, to ensure that they will be treated with the respect they deserve.
https://www.wptv.com/news/region-c-palm-beach-county/south-florida-community-leaders-react-to-the-killing-of-george-floyd
Opportunity 4 - In the article "Half a million dollars of help for Palm Beach County nonprofits" the city just approved a half a million aid for nonprofits. Each nonprofit will be granted up to a check of six figures to continue allowing to change the community. This opportunity is great for individuals who run a nonprofit and have been finding it very difficult to find funds in these tough times.
https://www.wptv.com/news/region-s-palm-beach-county/delray-beach/half-a-million-dollars-of-help-for-palm-beach-county-nonprofits
Opportunity 5 - In the article "West Palm Beach prepares for hurricane season during coronavirus pandemic" the city is now advising the citizens of the cities to start thinking about the hurricane season that is right around the corner. With a forecasted very active season in store for us, it is crucial that we prepare. Anyone in Florida benefits from these articles and advisories as it gives us ample time to prepare.
https://www.wptv.com/news/region-c-palm-beach-county/west-palm-beach/west-palm-beach-prepares-for-hurricanes-during-a-pandemic
Thursday, May 21, 2020
4A - Forming An Opportunity
1. I see an opportunity with an app that recommends movies and shows
2. This belief stems from far too much personal experience. Throughout the years I have spent more time in search of a show or movie than actually watching one. I believe this is because the algorithms that Netflix and Hulu use aren't exactly the best. I believe that everyone who uses these platforms experiences this problem. I can say with 100 percent certainty that this problem affects Netflix and Hulu users, as of now most people rely on word of mouth for good movies or shows.
3. My prototypical customer would be someone who uses Netflix and/or Hulu. 183 million and 30 million active paid subscribers.
4. Interview 1: The first person I interviewed was a good friend. I began the interview with how she personally finds shows to watch on platforms such as Netflix and Hulu. She replied with "I usually just scroll around watching trailers until I find something that catches my attention." I then asked how long does that usually take. The response was that it varies on what comes up on the home page and categories page. I continued with what if you cannot find something that catches your attention. She replied with I start asking friends if they've seen anything recently that they would recommend.
Interview 2: The second person I interviewed was a colleague. In the same fashion as the previous interview, I asked how they find movies or shows to watch on platforms such as Netflix and Hulu. They responded with "usually I just go on what's currently trending, then I go on YouTube and watch the trailers and read the comments to get an idea on whether or not I will like it. I then followed with how long does that usually take and if it is effective. They said that it depends on what their mood is and if they are interested in what is currently trending or if they have something in mind that they want to watch.
Interview 3: The last person I interviewed was my little sister. As you could have guessed I began the interview in the same manner that I began the previous two. Her response was that she relies heavily on word of mouth. She doesn't like to waste her time looking around for a movie or show. She believes that usually whatever is trending is usually good. I then asked if she knew how her friends got the idea to watch that show. She didn' know how exactly her friends ended up watching the movies or show but that she believes that maybe it was because of the further word of mouth.
5. Reflect: Before any of the interviews I thought long and hard about how I could ask the right questions without simply telling the interviewees what the problem I was trying to solve was. To my surprise the problem became rather apparent once we both knew that the problem with these platforms is finding something that you'll like. I got a good amount of information and it only solidifies my idea that there is in fact an opportunity with these platforms. If the app becomes successful then perhaps Netflix and/or Hulu would be interesting in working with us or outright buying the app and integrating it into their own platform.
6. Summarize: I would say that 90-95 percent of my original statement is still true. The only reason I say that my percentage changed a bit was that my sister brought up an interesting point. Some people know exactly what they are going to watch and some people do not want to waste time finding a show to watch. They just want to put something on and see how it goes, whether it is good or not. I believe that an entrepreneur should adapt their ideas and opportunities and much as the customer thinks they should since they are the ones who are going to buy/use the product.
2. This belief stems from far too much personal experience. Throughout the years I have spent more time in search of a show or movie than actually watching one. I believe this is because the algorithms that Netflix and Hulu use aren't exactly the best. I believe that everyone who uses these platforms experiences this problem. I can say with 100 percent certainty that this problem affects Netflix and Hulu users, as of now most people rely on word of mouth for good movies or shows.
3. My prototypical customer would be someone who uses Netflix and/or Hulu. 183 million and 30 million active paid subscribers.
4. Interview 1: The first person I interviewed was a good friend. I began the interview with how she personally finds shows to watch on platforms such as Netflix and Hulu. She replied with "I usually just scroll around watching trailers until I find something that catches my attention." I then asked how long does that usually take. The response was that it varies on what comes up on the home page and categories page. I continued with what if you cannot find something that catches your attention. She replied with I start asking friends if they've seen anything recently that they would recommend.
Interview 2: The second person I interviewed was a colleague. In the same fashion as the previous interview, I asked how they find movies or shows to watch on platforms such as Netflix and Hulu. They responded with "usually I just go on what's currently trending, then I go on YouTube and watch the trailers and read the comments to get an idea on whether or not I will like it. I then followed with how long does that usually take and if it is effective. They said that it depends on what their mood is and if they are interested in what is currently trending or if they have something in mind that they want to watch.
Interview 3: The last person I interviewed was my little sister. As you could have guessed I began the interview in the same manner that I began the previous two. Her response was that she relies heavily on word of mouth. She doesn't like to waste her time looking around for a movie or show. She believes that usually whatever is trending is usually good. I then asked if she knew how her friends got the idea to watch that show. She didn' know how exactly her friends ended up watching the movies or show but that she believes that maybe it was because of the further word of mouth.
5. Reflect: Before any of the interviews I thought long and hard about how I could ask the right questions without simply telling the interviewees what the problem I was trying to solve was. To my surprise the problem became rather apparent once we both knew that the problem with these platforms is finding something that you'll like. I got a good amount of information and it only solidifies my idea that there is in fact an opportunity with these platforms. If the app becomes successful then perhaps Netflix and/or Hulu would be interesting in working with us or outright buying the app and integrating it into their own platform.
6. Summarize: I would say that 90-95 percent of my original statement is still true. The only reason I say that my percentage changed a bit was that my sister brought up an interesting point. Some people know exactly what they are going to watch and some people do not want to waste time finding a show to watch. They just want to put something on and see how it goes, whether it is good or not. I believe that an entrepreneur should adapt their ideas and opportunities and much as the customer thinks they should since they are the ones who are going to buy/use the product.
Thursday, May 14, 2020
3A - Your Entrepreneurship Story
I have always been interested in entrepreneurship growing up but one of my first real-life encounters of such was when I was 17. I was at the mall with some of my friends and we decided to go into the Tesla store to check out the cars they had on display. I saw this hipster guy who was looking at one of the cars, I approached him and we started having a conversation, the conversation went on for a good 20 minutes. We talked about Tesla, the future of technology, and several other topics. At the time I didn't know that he was an entrepreneur, we exchanged cell phone numbers and he told me that he liked my attitude and approach on these topics. He said to give him a call sometime so we can continue to talk about such subjects. After leaving the mall and a few days went by I decided to give Daniel a call and see could stem from this spontaneous exchange. He told me that he was the CEO of a technology company here in Florida and how he changed his life just wanted to help others with paving the way for their lives as well. He described what he wanted to do as helping others with their own maze. He already completed his life long goals and now he wanted to share what he knew with others so they can achieve the same for themselves. This encounter really opened my eyes to the importance of financial freedom. Starting out from a young age is important, following ones passion and never taking no as an answer. I joined ENT3003 not only because it is a requirement for my degree but also because I am fascinated with how the business world works from another point of view. I have heard a lot of good things from this professor and am looking forward to what insight he has to offer. At the least, I would like to get my moneys worth from this course but more than that I want to be able to take what I learn from this course and apply it to my career.
2A - Bug List
It bugs me...
1. When Netflix suggests movies that I wouldn't find particularly interesting
Why: Netflix makes suggestions based on what is popular overall and not really what you will like
2. When I don't have enough time to finish an assignment
Why: Poor time management on my end
3. When News outlets take situations out of context for views (Covid-19)
Why: They do it for an increased rating
4. When millionaires ask for the public to donate to charities/ programs when they haven't donated themselves
Why: Because they were pressured or told by their managers/agents
5. When I go to the store for one item during the day and the lines are long
Why: I go during times in which everyone gets out of work
6. When I go to the gym during the evening/ early night and I spend most of my time waiting for a machine to open up
Why: This is a popular time for people to go
7. When I am watching YouTube videos and there are multiple ads during one video
Why: The creator monetizes as much as they can
8. When people want to protest a virus yet wear a mask during the protest
Why: Lack of knowledge/ common sense
9. When I binge-watch a show and the next season is not even in production
Why: I get carried away and don't pace myself
10. When I was my car and the next day it rains
Why: I do not check the weather and I have bad luck
11. When I am trying to sleep and my apple watch keeps vibrating with notifications
Why: I usually take naps during the day and I forget to set it on do not disturb
12. When professors think their class is the only class I am taking and assign a plethora of work
Why: They think very highly of their class
13. When my dog drinks/ eats and makes a complete mess
Why: He's not trained
14. How every major production company is starting its own streaming service
Why: They want to make more profit since cable tv is dying
15. When classes require an access code that cost just as much as the class did
Why: The author needs to make money for the time they took to research and write the book
16. When Uber prices increase later into the night or during large events
Why: These are high demand time and times in which not a lot of people are working thus supply decreases while demand increases
17. When the ice cream machine at fast-food restaurants always being down (Mcdonalds)
Why: The high demand for the ice cream means the machine runs more often and thus reduces the life of the machine
18. When I am taking an exam on proctor u and the proctor wants me to completely clear my desk even though my desk doubles as a bookcase stand
Why: They want to ensure that I am not cheating
19. When Walmart runs out of toilet paper
Why: People get paranoid and panic and for some reason think it's a great idea to stock up on toilet paper
20. When airlines charge more for a ticket as the departure date gets closer
Why: I think it should be the opposite as they have an empty seat on a flight but maybe because if someone really needs that seat they are willing to pay more for it
Reflection: For some odd reason I found it rather difficult towards the middle of my bug list, at first I was able to think of a few good things that instantly came to mind. The same can be said for the ending, I felt like I ended strong but the middle was hard. I didn't think it would be hard to actually think of these since most of these things happen in real life and I forget about them almost instantly.
1. When Netflix suggests movies that I wouldn't find particularly interesting
Why: Netflix makes suggestions based on what is popular overall and not really what you will like
2. When I don't have enough time to finish an assignment
Why: Poor time management on my end
3. When News outlets take situations out of context for views (Covid-19)
Why: They do it for an increased rating
4. When millionaires ask for the public to donate to charities/ programs when they haven't donated themselves
Why: Because they were pressured or told by their managers/agents
5. When I go to the store for one item during the day and the lines are long
Why: I go during times in which everyone gets out of work
6. When I go to the gym during the evening/ early night and I spend most of my time waiting for a machine to open up
Why: This is a popular time for people to go
7. When I am watching YouTube videos and there are multiple ads during one video
Why: The creator monetizes as much as they can
8. When people want to protest a virus yet wear a mask during the protest
Why: Lack of knowledge/ common sense
9. When I binge-watch a show and the next season is not even in production
Why: I get carried away and don't pace myself
10. When I was my car and the next day it rains
Why: I do not check the weather and I have bad luck
11. When I am trying to sleep and my apple watch keeps vibrating with notifications
Why: I usually take naps during the day and I forget to set it on do not disturb
12. When professors think their class is the only class I am taking and assign a plethora of work
Why: They think very highly of their class
13. When my dog drinks/ eats and makes a complete mess
Why: He's not trained
14. How every major production company is starting its own streaming service
Why: They want to make more profit since cable tv is dying
15. When classes require an access code that cost just as much as the class did
Why: The author needs to make money for the time they took to research and write the book
16. When Uber prices increase later into the night or during large events
Why: These are high demand time and times in which not a lot of people are working thus supply decreases while demand increases
17. When the ice cream machine at fast-food restaurants always being down (Mcdonalds)
Why: The high demand for the ice cream means the machine runs more often and thus reduces the life of the machine
18. When I am taking an exam on proctor u and the proctor wants me to completely clear my desk even though my desk doubles as a bookcase stand
Why: They want to ensure that I am not cheating
19. When Walmart runs out of toilet paper
Why: People get paranoid and panic and for some reason think it's a great idea to stock up on toilet paper
20. When airlines charge more for a ticket as the departure date gets closer
Why: I think it should be the opposite as they have an empty seat on a flight but maybe because if someone really needs that seat they are willing to pay more for it
Reflection: For some odd reason I found it rather difficult towards the middle of my bug list, at first I was able to think of a few good things that instantly came to mind. The same can be said for the ending, I felt like I ended strong but the middle was hard. I didn't think it would be hard to actually think of these since most of these things happen in real life and I forget about them almost instantly.
Tuesday, May 12, 2020
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