The pandemic and social unrest of 2020 accelerated change at a rapid pace for individuals, corporations and communities, L.A. business and tech leaders said during a virtual panel discussion. They predicted 2021 will be an opportunity for tech growth.
Upfront Managing Partner Mark Suster, Valence co-founder and COO Emily Slade and entrepreneur, athlete and investor Baron Davis spoke to dot.LA during its final Strategy Session event of the year. The challenges of 2020 were a common theme.
Suster said he sees the economic recovery as being K-shaped rather than U or V-shaped where half of the economy is doing better than it ever has, while the other half is doing worse.
"It's really, sadly, exacerbated inequalities in our system because the people that are doing better are knowledge workers and remote workers, and the people doing worse are the people who have to have their earnings from being in person," he said. "So, one thing I didn't anticipate was what we've basically done is accelerate societal change that would have taken five or eight or 10 years into one year."
Working from home is a change that the pandemic brought that Suster doesn't see going away. He expects people will work from home two or three days a week. He also said he is "bullish" about VR as the pandemic is pointing towards remote collaborative working.
One of the takeaways of Airbnb's and DoorDash's successful IPOs last week was how important and pervasive tech companies have become in today's market, Suster said.
"It sets up the opportunity of what we expect in the next 10 years," he said. "The second thing it speaks to is the sheer demand there is for public stocks because there's been a six, seven, eight-year period of time where these great companies raised billions of dollars in the private markets and weren't public. And now a lot of them are shifting to becoming public companies."
Valence, which connects Black professionals with capital, mentorship and professional development, saw its community membership double this year amid the social unrest following the death of George Floyd. Companies had been thinking about diversity and inclusion before this summer, but the protests brought "a sense of urgency and the awareness and understanding across the board," Slade said.
She said they saw strides this year towards diversity and inclusion in the L.A. tech and startup community, although the steps companies took in response to the movement varied.
She outlined three things that companies can do in 2021 to achieve diversity and inclusion goals: have diverse people on recruiting teams; spend money, time and attention on retention of new employees and promote Black and diverse leadership within the company.
"Being a part of a moment like this is actually really inspiring — to be able to say that we were in a time where so much change is taking place and that we didn't just stand by, that we participated," she said.
Davis, a former L.A. Clipper, said when he was involved in the early L.A. tech scene, he advocated for a name other than "Silicon Beach" to differentiate the community from Silicon Valley.
A native Angeleno, he'd like to see what he called "L.A. Unified," not the school district, but a community of innovation and inclusivity.
"For me it's really about unifying the city so we understand how to pay it forward, how to pay it back and how to build a modern city and a smart city where everybody can participate and everybody can share," Davis said.
He wants to create a structure for opportunities for young entrepreneurs, especially women, people of color and those in the LGBTQ community. And he's hopeful that the pandemic can create a unique moment for innovation.
"Right now, L.A. is, I keep saying, it's in its infancy, especially due to COVID," he said. "Obviously our school systems were failing, our educational systems need to be rewritten, so COVID has given us all these opportunities for these young minds to come and create and build. So, I think the opportunity for all of us is to seek, find, deliver and give access and use some of the things that we have, as the privilege, to share and build opportunities for the unprivileged."
Baron Davis, Entrepreneur, Athlete & Investor
Baron Davis, Entrepreneur, Athlete & Investor
Baron Davis is a two-time NBA All Star, serial-entrepreneur, investor and creator of thought-provoking content and platforms. During his years in the NBA, Davis was constantly listening, learning, networking, and connecting both on the court and off which ignited a successful post-NBA business career.
Davis is the founder of several companies, including Sports and Lifestyle in Culture (SLiC), Business Inside the Game (B.I.G.), The Black Santa Company and No Label; each with the objective of combining creative talent with original publication and production to develop and provide educational and empowering stories that appeal to global audiences of all ages. Davis was one of the original investors in Vitaminwater and helped launch Thrive Market.
Davis also served as producer of several acclaimed documentaries including "Crips and Bloods: Made In America," "30 for 30: Sole Man," and "The Drew: No Excuse, Just Produce."Davis currently resides in his hometown of Los Angeles where he plays his most important role, Dad to his two kids.
Mark Suster, Managing Partner at Upfront
Mark Suster, Managing Partner at Upfront
Mark Suster has been a managing partner at Upfront since 2007, where has led notable investments in companies including Bird, Invoca, Density, Nanit and Maker Studios (acquired by Disney). He previously was the founder & CEO of two successful enterprise software companies, the most recent of which was sold to Salesforce.com, where Mark became VP of products. Prior to being a founder, Mark was a software developer at Accenture while living and worked in Europe, Japan and the U.S. Mark is a graduate of UCSD and has an MBA from the University of Chicago.
Emily Slade, Co-Founder & COO of Valence
Emily Slade, Co-Founder & COO of Valence
Emily is the co-founder & COO of Valence, a new tech platform and community incubated by Upfront Ventures focused on connecting Black professionals with mentorship, job opportunities and capital.
Previously, she was the global head of growth/partnerships at Working Not Working, the platform connecting the world's top creative talent with companies looking to hire them, She built the "Work in Progress" initiative there. That effort launched with the acclaimed food-recovery program "FoodFight" that supports tens of thousands of homeless people. They launched FoodFight with a focus on turning foodie-hotspot Abbot Kinney Blvd in Los Angeles into the first zero-food-waste street in America during their beta, and now FoodFight is a feature within the Postmates app in 19 cities with 3000+ participating restaurants donating food to homeless shelters.
Throughout her career, she's focused on helping tech companies and startups scale strategically and authentically, contributing to the $1B IPO & sale of Active Network during her seven-year tenure there. Her side hustle is behind the lens as a co-founder of a travel production company, Pindrop Films, which takes her on photo adventures around the world. She's also worked as a film consultant supporting the development of features including "Man's Search For Meaning" based on the iconic memoir by Viktor Frankl and she is the L.A. chair of The Schusterman Family Foundation.
Kelly O'Grady, Chief Correspondent & Host and Head of Video
Kelly O'Grady, Chief Correspondent & Host and Head of Video
Kelly O'Grady is dot.LA's chief host & correspondent. Kelly serves as dot.LA's on-air talent, and is responsible for designing and executing all video efforts. A former management consultant for McKinsey, and TV reporter for NESN, she also served on Disney's corporate strategy team, focusing on M&A and the company's direct-to-consumer streaming efforts. Kelly holds a bachelor's degree from Harvard College and an MBA from Harvard Business School. A Boston native, Kelly spent a year as Miss Massachusetts USA, and can be found supporting her beloved Patriots every Sunday come football season.
Ben Bergman, dot.LA Senior Reporter
Ben Bergman, dot.LA Senior Reporter
Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior reporter/ host at KPCC, a producer at Gimlet Media and NPR and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to NPR and Marketplace and has written for The New York Times. Bergman was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. He enjoys skiing, playing poker and cheering on The Seattle Seahawks.
Sam Adams, dot.LA Co-founder & CEO
Sam Adams, dot.LA Co-founder & CEO
Sam Adams serves as chief executive of dot.LA. A former financial journalist for Bloomberg and Reuters, Adams moved to the business side of media as a strategy consultant at Activate, helping legacy companies develop new digital strategies. Adams holds a bachelor's degree from Harvard College and an MBA from the University of Southern California. A Santa Monica native, he can most often be found at Bay Cities deli with a Godmother sub or at McCabe's with a 12-string guitar. His favorite colors are Dodger blue and Lakers gold.
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“Bird wants to give back,” said Brian Buccella, VP of public policy at the Santa Monica-based startup.
Buccella spoke with Long Beach Community Outreach Specialist Tony Cruz about the partnership between the city and Bird.
Cruz is a former U.S. Olympian and pro cyclist. In 2009, he became the city’s “bike ambassador,” championing new cycling infrastructure and active transportation. Now, he works with everything from e-scooters to micro-transit.
“And now the running joke at City Hall is ‘Anything with wheels on it, just give it to Tony. He’ll figure it out.’”
Cruz described the city’s adoption of e-scooters as a “baptism by fire.” According to him, one of the biggest issues the city has faced is e-scooters blocking accessibility features like curb ramps.
“Our staff does an annual presentation to our commission for disabilities. And this has been the number one pain point for them: ‘We have sight impaired [people], [we] have disabled [people]. How are you going to fix this for us?’,” he said.
Bird is rolling out the adaptive vehicle program in partnership with Scootaround, a mobility scooter and wheelchair rental company based in San Diego. The program started as a pilot in the Bronx. Currently San Diego and San Francisco also offer the program in California. Long Beach will be the first municipality in L.A. County to take part.
Long Beach launched its micromobility pilot in the Fall of 2018. Almost two years into its permanent shared permit program, the city has four operators: Bird, Lime, Veo and Razor. Unlike the city of L.A., Long Beach has a closed market for companies operating within its borders. The vehicle cap is currently 600 for e-bikes and 1,000 for e-scooters. Operators pay a permit fee of $25,000 per year and $100 per vehicle.
In an effort to clean up city sidewalks, Cruz said Long Beach is also rolling out a “forced parking” program, requiring riders to park at pinned locations in e-scooter and e-bike apps.
Long Beach’s approach follows a national trend of micromobility companies and municipalities partnering to implement new technology and protocol to address cities’ pain points. Last month, Bird and Lime trumpeted their new parking technology that uses Google Street View to verify and enforce correct parking.
With location data accurate “within 10 centimeters,” according to Buccella, companies should be able to do more, including curbing sidewalk riding and maintaining geofencing around restricted areas. (Critics have contended in the past that the amount of data collected by cities and companies, crucial to these programs, could pose a threat to riders’ privacy.)
As Long Beach continues to expand its mobility offerings, Cruz said he wants companies to succeed while also addressing concerns about safety and accessibility.
“Their success is the city's success as well. We're not here to over-regulate, we're here to work together.”
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Mark Bozon, VP of Next Generation Storytelling creative experiences.
Courtesy of The Walt Disney Company
Bozon arrives as Disney has looked to beef up its metaverse team in recent months. In February, the company promoted Mike White to senior vice president of Next Generation Storytelling & Consumer Experiences group—a cross-divisional initiative encompassing its wider metaverse ambitions. It has also looked to boost its operations around NFTs, the digital assets verified by blockchain technology that could play a big role in the metaverse.
Bozon spent 12 years at Apple, most recently serving as games creative director at the tech giant’s Apple Arcade video game service, according to his LinkedIn profile. He will report to White at Disney, where he will be responsible for leading the Next Generation Storytelling group’s creative vision and building a team focused on “interconnected consumer experiences across immersive new storytelling canvases,” a Disney spokesperson told dot.LA.
That echoes what Disney CEO Bob Chapek told CNBC in February, when he described the metaverse as “a third dimension of the canvas that we let our creative people paint.” Chapek noted that the company could parlay the digital realm across its wide array of assets, from film and media to theme parks and resorts. Thus far, Disney’s moves include bringing augmented reality to its theme parks and selling digital artwork using its vast trove of intellectual property.
“If the metaverse is the blending of the physical and the digital in one environment, who can do it better than Disney?” Chapek said.