034 – Minta Kay and Salil Gandhi of Goodwin Procter – The Law of PropTech

Goodwin Proctor

Law firm Goodwin Procter LLP launches PropTech practice to serve intersection of real estate and technology innovation…

Goodwin ProctorMinta Kay (Chair of Goodwin’s Real Estate Industry group) and Salil Gandhi (partner in Goodwin’s Technology group) of Goodwin Procter LLP, join Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.

In this episode:

  • What inspired the PropTech initiative at Goodwin Procter
  • The firm’s huge global real estate bench, and huge technology bench
  • How the firm has been getting a lot of calls, inquiries
  • Woke up with convergence of practices, obvious place to goGoodwin Proctor
  • Tech – type of company, not an industry sector
  • Also Fintech, Blockchain, do a lot in that space as well
  • Real estate has been slow to adopt tech—that’s changing
  • Need to pay attention, a cascade coming down around them
  • Real estate becoming a service instead of just a hard asset
  • The greatest potential for opportunity
  • From first innovations on prop tech side on consumer listing sites, been seeing it on consumer side for awhile, bigger than a couple of entrepreneurs disrupting
  • Investors are investing to remain abreast of latest innovations
  • Keeping informed on opportunities to return investor returns, smarter buildings, manage portfolios
  • How people are thinking about what a building is and how it is structured, and that it is driving business decisions and entrepreneurial innovation
  • Why autonomous cars are important for real estateGoodwin Proctor
  • Why re-purposing of spaces and buildings is huge
  • Going to raise a lot of new bureaucratic activity, permitting, zoning
  • Collecting more data than ever before, so sourcing deals to pricing deals, design, maintenance
  • From one transaction to an ongoing sharing of information
  • Open-mindedness on real estate and regulatory that will allow innovation to occur
  • Elasticity in the space is very important
  • The need to house fleets of vehicles is coming, a shift is neededGoodwin Proctor
    How smart contracts can shift advice business
  • From ballet, chemical engineering and art history — to law
  • PropTech is happening now in Asia too

030 – Ryan Baxter of PASSNYC – PropTech, Education, and Going Big

Ryan Baxter

PropTech, education reform in New York City, and motivating innovation…

Ryan BaxterRyan Baxter, making NYC’s built environment more educational, Founder/Chairman of PASSNYC, Real Estate Liaison for MetaProp NYC, and Co-founder of PropTech Challenge, and former Vice President of REBNY, joins Tom Kutzman in the MouthMedia Network studio powered by Sennheiser. Presented by Prevu.

In this episode:

  • Real estate tech/prop tech
  • Baxter‘s unique path to prop tech, how he started in a trade association, Real Estate Board of NY
  • His undying love for NYC, looking for way to work around that, loved lobbying as a concept
  • The opportunity to make lots of impact
  • How the Association is older than NYC, serves more than 17,000 members across real estate professions
  • How Baxter started a regulatory effort on changing how ConEd treats power plants within buildings, taught him a lot about how NYC interacts with and treats techRyan Baxter
  • Aaron Block, a founder of PropNYC,  knocked on door asking for help, saw them as distribution platform
  • How his work allows outcome beyond pursuit of wealth
  • Bing Co-Founder of Protech challenge, started last year grew to over 100 people from 47 companies,
  • Moving from personally-participated to virtually to impact many more people, to spur innovation, increase diversity, and create opportunities around the world
  • An augmented reality tool to overlay real time building information, helpful for engineers to know what a particular system’s flow of info in real time
  • A lack of agility and responsiveness in real estate is going changing
  • The need to understand that there are only five value propositions
  • A limitless opportunity for the human imagination
  • A $230 Trillion and growing opportunity worldwide
  • Developers should lean into PropTech
  • Why PropTech is years behind FinTech, yet broader than any other tech vertical we’ve seen
  • Is PropTech only one part of it, and a low hanging fruit, and limiting lens?
  • MetaProp
  • Starting with community building approach as a new fundRyan Baxter
  • Why learning the language across the industry is crucial
  • Promoting better educational access and equity using community organizing and coalition tactics
  • Why the tip of PropTech spear should be public schools, and how they can design the future
  • Enabling schools to be specialized, motivating participation and resource provision, and working toward continual desegregation
  • The debate on why specialized schools have value
  • The Empire State Building, Jay-Z, and a great restaurant