Connected devices are everywhere and will soon also be implanted in our bodies.
This poses an enormous security challenge. Joe and I discuss the open problems and some partial solutions, including where there are opportunities for new entrepreneurs.
Sramana Mitra: Let’s start by introducing our audience to yourself and to Armis. >>>
Sramana Mitra: We’ve discussed a lot of the use cases and scenarios on the horizon. Can you talk about what kinds of companies would you build if you were starting a company today? This is to give pointers to our entrepreneurs who are looking for problems to solve.
Flavio Gomes: That’s a great question. I think what you need to really consider when you’re looking at the IoT ecosystem is underserved markets. Think about the disruption that automation and intelligence will bring to certain types of industries. It’s happening relatively rapidly.
Because the underlying infrastructure and technology is readily available, you’re seeing new models and new applications >>>
Sramana Mitra: My mind is running as I’m listening to you. You’re talking about a jet engine being consumed as an opex and not as a capex?
Flavio Gomes: That’s correct.
Sramana Mitra: Wow!
Flavio Gomes: That’s where the future is headed. Anything that is a depreciating asset is going to be shared.
Sramana Mitra: Can you give me a few more examples? >>>
Sramana Mitra: I’d like you to do some use cases for us. We understand how this plays out. Pick a customer or customer category and walk us through how this works.
Flavio Gomes: In the industrial IoT, we have a customer that is an IoT enabler. They do device management and connectivity solutions. They supply the infrastructure to different types of industry verticals such as mining or healthcare. They’ve started to think about, “How do we price this effectively in each one of these verticals?”
They start in a pretty straightforward way where they’ll charge you based on the number of sensors. Not all sensors are equal. Some sensors have >>>
Differential pricing based on differential usage of devices. Fascinating conversation!
Sramana Mitra: Let’s start by introducing our audience to yourself as well as to LogiSense.
Flavio Gomes: I’m the Founder and CEO of LogiSense Corporation. My business has been around for just a bit over 20 years. It was officially incorporated in 1998, but its history goes back to the early 90’s when I started one of the first regional ISPs in our community. It was in the very early days. It was about 1992 to 1993 when the internet was a new medium.
At that time, things were very expensive to operate. We built a lot of the technologies and tools to manage that business. One of those tools were the
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Sramana Mitra: Very good. Switching gears a bit, when you look around in your universe, what are the key trends and what are the open problems upon which a new entrepreneur could build a new business?
Todd Greene: It’s a great question. It’s actually very interesting. If you look all the big unicorn spaces and companies over the last five years, all industries are changed because of the ability to stream real-time information. What’s different in your taxi experience from Uber or Lyft? You can now open your phone, you can see where the taxi is. What changed the exercise bike market with Peloton? It was the fact that Peloton, as an exercise bike company, allows you to compete with your fellow riders. >>>
Todd Greene: In my view, there are only two kinds of startups. There are startups that are building a new product in an existing market. There are companies that are building new products in a new market. They both have different dynamics. In companies that are building new products in an existing market, you’re usually providing something that already exists but you’re making it faster, better, and cheaper. You’re probably stealing unhappy customers away from a very large incumbent.
In the world of PubNub, it’s very different. We are one of those new companies in a new space. We get to define the space and define the naming. We have the added task of educating the world about how you use this Data Stream Network to connect, deliver, and control for these real-time >>>
Todd Greene: From Athenahealth all the way to New York Presbyterian Hospital are built on PubNub. Our technology helps them create ways for doctors and patients to collaborate within a chat application or to share information. On the B2B side, companies like Docusign use PubNub for real-time collaboration during contract signing. Companies like HubSpot use PubNub to power the technologies they sell to their customers to do customer support chat and collaboration.
The other two use cases are device control, especially in the smartphone space, and real-time signaling, such as real-time maps, inventory, prices, and other apps that require real-time data updates.
Under the covers, we provide three core things to those customers. The first is the ability to connect to every device in the world and keep an always-on connection to those devices, whether you’re at home or behind a corporate firewall. >>>