😎 Our Generation Is Doing This To Build Wealth

📰 Industry News

• Cineworld is in talks over the sale of some of its UK cinema operations that could lead to a restructuring of its business. (Reuters)

• Motors.co.uk is set to strike a deal to buy struggling car dealership giant Cazoo, which recently entered administration. The retailer was once valued at £5bn. (Sky News)

• Elon Musk has unexpectedly dropped his legal case against OpenAI, which accused the company of abandoning the firm's founding mission of developing AI for humanity's benefit. (BBC)

• Pretty Little Thing is the latest online fashion retailer to scrap free returns. Shoppers will now have to pay a fee of £1.99 to return an item, which will be deducted from their refund. (Retail Week)

• Holland & Barrett are investing heavily in AI to track customer footfall across 1,000 stores in the UK and Europe. The investment is expected to provide valuable insights into store performance. (The Retail Bulletin)

💻 Digital Assets: The 21st Century Goldrush

Our generation sees wealth differently. The world of digital assets is exploding, leading the charge in valuing these intangible treasures. With 11% of Britons having invested in crypto as of 2024, and many more expanding their portfolios in other ways, why are digital assets becoming so popular in the UK?

What Are Digital Assets?

Digital assets are intangible resources owned and controlled by individuals or businesses that have a distinct value. Unlike physical assets, such as property or machinery, digital assets exist in the digital realm and include:

• Social Media Accounts: Influential Instagram profiles, Twitter handles, and YouTube channels.

• Domain Names: Highly sought-after website addresses with valuable traffic and search intent.

• Websites and Blogs: Platforms that generate traffic and revenue.

• SaaS Products: Software-as-a-service applications that provide recurring revenue and scalability.

• Cryptocurrencies: Bitcoin, Ethereum, and other digital currencies.

• E-books and Online Courses: Educational content and intellectual property that can be built once and sold repeatedly.

The Generational Shift in Asset Ownership

Traditionally, wealth was often measured by tangible assets and physical goods. However, the digital revolution has transformed what people consider valuable in their portfolios. Here’s how the shift is unfolding:

• Accessibility and Scalability: Digital assets are more accessible to younger generations. You don't need large sums of capital to start a successful website or build a social media following. This democratisation allows anyone with creativity and dedication to build valuable digital assets.

• Monetisation Opportunities: Digital assets can generate income through advertising, sponsorships, affiliate marketing, and direct sales. For example, a popular YouTube channel can earn revenue through ads and brand deals, while a well-trafficked website can profit from affiliate links and sponsored content.

• Investment and Speculation: Like physical assets, digital assets can be bought, sold, and traded. Prime digital real estate, such as domain names, can be highly lucrative, sometimes selling for thousands or even millions of pounds.

The Bottom Line

While the UK economy has had its ups and downs, diversifying your portfolio to include digital products can significantly reduce the risk of major losses due to market fluctuations.

Digital assets, with their high return potential and increasing relevance, are becoming an essential part of the UK population’s diversified investment strategy.

🤖 London Tech Week: Some Advice and Takeaways

Wandering around with a badge that says 'Press' isn’t my usual look when I attend events. But covering an event that showcases the best of the UK tech industry and mingling with top founders and investors was an opportunity not to miss.

If anyone needed a reminder of how serious a player the UK is on the global tech stage… London Tech Week 2024 was it.

The industry leaders were out in force, supporting and networking with the wider tech community. Here are some of my favourite quotes and key takeaways from the 2024 event!

Key Quotes and Takeaways

Nicola Hodson, Chief Executive of IBM UK & Ireland:

“IBM’s research shows only 37% of large-scale UK companies have deployed AI, but a further 41% are experimenting with it. This year, we will see more UK organisations move from AI pilots into real-world applications, as AI adoption builds momentum across the economy.”

Sadiq Khan, Mayor of London:

“Our city (London) is now one of the largest and most influential tech centres on the planet. We boast more than 100 unicorns. We’re home to more software developers than any other European city. And some of the biggest names in the business – from Google to Microsoft – are expanding their operations here, with major new investments that are making London a global hub for AI and for innovation.”

Saul Klein, Co-founder and Managing Partner of Phonix Count

“London is at the centre of one of the most important innovation economies globally. After the Bay Area which we’ve all heard of, London is the centre of the second-most productive innovation area globally (…) it's taken us 20 years to get to the starting line, but it's the next 20 years that are going to be really interesting."

James Tuttiett, Sales Director at FDM Group:

“If I were to give people one piece of advice for a career not just in tech but any career, it's that hard work pays off. Having the right attitude is 90% of any job. Training and picking up skills is really important - but turning up every single day and looking to improve yourself is the most important thing.“

Carolyn Dawson OBE, CEO of Founders Forum Group:

”The UK remains number one for AI investment in Europe, with ground-breaking advancement in AI driving the overall growth of the UK tech sector – which reached a combined market valuation of $1.1 trillion in Q1 2024. This maintains the UK as the number one tech ecosystem in Europe and the third most valuable in the world after the US and China.”

Jon van Gelder, CEO of Powdr:

“As for advice to someone who’s looking to get investment ready, you’ve got to understand what your plan is and be able to communicate it effectively. It’s not rocket science, but you be able to say this is how much money I’m going to generate and this is how I’m going to generate it. You have to be able to articulate all of the consequences, and then also try to articulate any problem which you may face and how you would deal with those problems.”

Why London Tech Week Matters

London Tech Week is a testament to the UK's robust and dynamic tech ecosystem. The event underscores London's position as a global tech hub, fostering innovation and collaboration.

The UK tech industry hit a valuation of $1.1 trillion in Q1 2024, showcasing 171 unicorns (private start-ups valued at over $1 billion). The workforce is rapidly growing, with over 2 million people working in tech.

The future of technology, not just in London but across the UK, is incredibly promising, with new hubs such as Manchester spreading innovation and attracting investment well beyond the capital.

For anyone looking to break into tech, hear from industry leaders, or find investors, the connections made at London Tech Week are invaluable. This event, with its global attendance, is a powerful reminder of the UK’s pivotal role in shaping the future of global technology.

📱 Google To Deindex Sites That Do Not Load On Mobile

Google has announced that sites which are not mobile-friendly will be de-indexed and essentially disappear from search results, in an attempt to make better user experiences through mobile devices.

According to What’s The Big Data, over 60% of internet traffic comes from mobile devices, that’s up from nearly 29% just 10 years ago.

If your website still thinks it’s 2005, or your site just isn’t mobile optimised, now is the time to change that…. and fast.

To prepare for the upcoming change, website owners must take proactive steps:

• Audit Your Site: Use Google’s Mobile-Friendly Test to identify issues.

• Improve Site Speed: Optimize images, leverage browser caching, and minimise JavaScript.

• Enhance Navigation: Ensure menus and buttons are easily used on mobile devices.

• Optimize Content: Make sure text is readable without zooming and touch elements are well-spaced.

Outposts Opinion: This is bold from Google, but in all honesty - it’s not surprising. User experience is key for Google, while mobile searches increase every year. Does this mean desktop searches are getting wiped out? Absolutely not. But it does mean that websites that only cater to them are.

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