This article raises some interesting points about the lack of oversight and when it’s appropriate to invoke the so-called “march-in” provision.
Recent Chicago Crain’s article celebrating 20 years of entrepreneurship and innovation. The article outlines how the University of Chicago has played a pivotal role in developing new businesses such as Grubhub and and Braintree. Moreover, the article outlines the history and impact of the world renown University of Chicago “Venture Challenge.” This annual challenge creates credibility and spotlight for those that can win.
In the industry of real estate development many of the business methods are standardized and outdated. This article suggests a different approach which incorporates innovation/design thinking into the process that could have a large impact on urban development. However, I question the ideas practicability because I think when it comes to development and the large capital investments needed for the projects, convincing people to change their normal proven methods will be hard if not impossible to do.
For those looking for something entrepreneurial on Netflix, here’s an article that lists some good documentaries featuring entrepreneur stories. Perfect for any snow day.
The legal professional is facing the Innovator’s Dilemma. The lower-margin jobs are outsourced to tech companies that use programs to run discovery and other mundane legal tasks. However, these companies are becoming more efficient at doing the work associates complain about. What happens when these companies create better products that provide semi-legal services cheaper and more efficiently than human lawyers? The landscape of the law is likely to change. As for now, the majority of the legal work is protected by the ABA (i.e. you must have a license to practice). However, there is debate about how ABA rules should change to adopt to the new technological age. How will the legal practice adapt to these new innovations?
Here is a good example of attorneys realizing their is a need for low cost and efficient legal services, and giving just that to clients. Legalbase was started by people with experience in media, law, and entrepreneurship, and is a nice illustration of law being the primary service of a start-up, much like LegalZoom in the US.
This article demonstrates how using the design thinking method of putting yourself in the shoes of the consumer can be a very useful skill for attorneys interacting with clients, and thereby help attorneys provide superior services for those clients.
In this piece Forbes gives an interesting perspective on how the legal industry is still down in many ways, but how the legal industry has actually become a great place for entrepreneurs.
Recent Chicago Crains article highlights a healthcare angel type fund for doctors looking to create a new businesses. The fund provides funding to other doctors or healthcare professionals looking to create a healthcare start-up. Unlike other angel funds this fund is run by healthcare investors who understand the business and can not only provide capital but can also provide insights to the industry.