Six months ago, a friend of mine who worked at a growing 30-people startup approached me to ask what tool we use to communicate between departments at Leverate.
Smart guy, I thought. I will never forget the colorful chaos that broke loose when we scaled from 30 to 140 employees in just two years. A headcount of 30 is an ideal tipping point for internal communication to take new forms.
Communication inside Leverate has evolved quite a bit along the years. We’ve been using a good number of tools to manage departments and share stuff cross-department. These tools include email, phone, boards, Slack, Confluence, Wiki, Yammer, daPulse, Google Docs, TFS, SharePoint, Trello, Facebook at Work and more. Some of these tools were so beautifully designed, that they downright fueled me with insights on leadership and communication. Others stormed into the company for a one-week-stand that everybody hated.
Jeffrey Broer has recently published a blog post called Fintech, the polarizing industry for Hong Kong. Through a bunch of interviews he shared the pros and cons for starting a fintech company in HK. Fintech is indeed a loaded topic in HK- the scene is small and people have strong opinions on its good, bad and ugly corners.
It’s no secret that HK lags behind London, NY and Singapore in fintech. Since HK has made it clear that it wants to be a fintech hub, let me ask more specifically: what’s standing in its way to become one? What’s going to really move the needle?
We need to talk about something, fellow fintech folks: the word ‘blockchain’ has left the ground and started going completely out of control recently. It takes only a quick look at Twitter’s #blockchain page to get that.
I started suspecting when well intentioned marketing people of a large bank used it non stop in a fintech event in Hong Kong. Banks seem to be all over the blockchain right now. I doubt that this technology can solve any acute problems for HSBC or Citibank, but I get them. “Blockchain” sounds cool and they’re too rich and too threatened by Bitcoin (the asset) to ignore the technology behind it.
On another event I heard the following question from an investor: ‘I got pitched by several blockchain startups. Would you advise me to invest in them?’. Yesterday TechCrunch joined the bandwagon and announced that the blockchain might be the next disruptive technology. For serious media that wants to look deep into the future, it’s a fair title and it can invite a serious discussion (which the Bitcoin community doesn’t lack). But the content mostly glorified ‘blockchain’ as a buzzword, and that’s wrong.
In a talk titled Inside Israel this month, I shared my company’s story and my insights on the tech scene in Israel. The next thing everybody wanted to know was what HK can learn from “the tech miracle” of Israel, a country only slightly bigger than HK in population.
It’s a good question, because the scene in HK is still hardly impressive compared to that of Tel Aviv, or London or Singapore (yes, Singapore). The government and local entrepreneurs have plenty of pride and good will. Some people say that HK will eventually explode. I understand where the argument comes from. After all, startup scenes are magic. The success factors (risk tolerance, talent, capital, ideas and heroes) get built up slowly and reinforce each other. Once they reach a tipping point, the scene catches fire and sustains itself in a big party. But I have a feeling that HK lacks some big things if it wants to catch up with the fully burning ecosystem in Tel Aviv or the catching-fire scene in Singapore. Let me present the most obvious one, in my opinion. Let’s look at some facts: