Some of the stories in this issue deal with the costs of innovation—whether the price of success, the consequences of failure, or the uncertain outcomes of new initiatives. I hope you enjoy them.
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The most clicked link in Travel Tech Essentials Guide Issue 152 is Thrillist Travel Survey.
We sometimes overthink the MVP process. Jaryd Hermann introduces a faster, simpler alternative: the “Meme Viable Problem” (MVP). Instead of building a product or landing page, capture the problem in a meme and share it with relevant communities. If the meme resonates, the problem really exists. If not, you've saved time and resources while gaining valuable insights. His 3-step playbook:
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Describe the problem: Create a meme that clearly captures the problem.
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Identify your audience: Find relevant communities where your problem exists.
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Test and iterate: Share the meme, observe the reaction and improve your approach.
This approach leverages the cultural relevance of memes to quickly and cost-effectively validate ideas before investing in a traditional MVP. Reading + How They Grow (or here to get the non-paid version)
This guest post Written by Juanjo Rodríguez, Founder and CEO of The Hotels Network, it explores how AI voice assistants can revolutionize the guest experience with their unusual benefits of real-time data access, seamless learning and adaptability, 24/7 availability, and instant multi-language support. Juanjo's insights show that the future of AI-driven hospitality services is ready for immediate implementation. Listen to the presentation in the image below.
I'm terrible at work-life balance, but I'm proud of what I do. We couldn't have done it if I had only put in 40 hours a week. — Brian Halligan, Co-founder and former CEO of HubSpot
“Google believes that work-life balance, going home early and working from home are more important than success. Startups succeed because people work their ass off.” — Eric Schmidt (Former CEO of Google)
Schmidt's recent remarks have been widely criticized, leading him to apologize and ask Stanford University to remove the video of his speech (you can still watch it here Found Here). Despite the backlash, both Schmidt’s and Halligan’s comments underscore a hard truth: Extraordinary results require extraordinary effort and commitment, and face-to-face interactions can lead to success in a way that remote work often can’t match.
Hotel companies are turning to subscriptions as a new way to build customer loyalty and offer unique experiences. Programs like CitizenM’s mycitizenM+ (launching in 2022), Ennismore’s Dis-loyalty (2023), and Inspirato Pass (2019) offer personalized benefits and exclusive offers, appealing to travelers who may want more than a standard loyalty program. We’re still in the early stages, but these programs hint at a shift in how hotel brands are engaging with some of their most loyal customers. Read + PhocusWire.
As I wrote in my last newsletter, Wizz Air Partnering with subscription experts to launch Europe’s first unlimited flight subscription service CaravelloSubscribers pay €499 per year and can book flights up to 72 hours before departure. Media and industry reaction ranges from extremely negative to strongly negative (Ryanair CEO Michael O'Leary calls it Marketing scam) turned neutral and skeptical. In response to this debate, Caravelo co-founder Jose Luis Vilar Wrote a post Highlighting how Wizz Air is redefining loyalty through innovative services, and praising the airline’s bold initiatives to make air travel more convenient and flexible.
I’d love to hear your thoughts on the future of subscription travel models:
Here are some surprising statistics, at least to me. According to the Simon-Guher report, Drivers of beverage trends in 2024consumers of all ages are choosing healthier drinks and drinking less. This shift is reflected in the growing demand for non-alcoholic beverages. Fact Market Research predicts that between 2023 and 2033, the global non-alcoholic beverage market will grow by 10.4% annually for wine, 10% for spirits, and 7.2% for beer. Notably, 42% of Generation Z and 31% of Baby Boomers are choosing to quit drinking completely. This trend presents a major opportunity for the hospitality industry to meet the needs of a rapidly expanding market segment where demand appears to be outstripping supply.
In 2014, NASA awarded Boeing $4.2 billion to build the Starliner — zero flights have been successful so far.
In 2014, NASA awarded SpaceX $2.6 billion to build the Crew Dragon — which has successfully flown 13 people to date. Now, NASA is about to add the rescue Starliner to its plans.
At Virtuoso's Travel Tech Summit, Gilad Berenstein (entrepreneur, investor and Virtuoso board member) highlighted five key trends shaping travel tech: new revenue models (such as travel subscriptions and financial products), connected operating systems, connected travel, commoditization of AI, and systems of intelligence. Watch his Video demonstration here.
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inspiration Received $10 million In addition to the equity financing, the company cut 15% of its staff and appointed Payam Zamani as its new chairman and CEO.
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Headquartered in Seattle OttoA startup developing an intelligent agent for business travelers, $6 million Seed round led by Madrona Ventures, with participation from angel investors Erik Blachford (former CEO of Expedia) and Barney Harford (former CEO of Orbitz)
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Headquartered in New York Best Artificial IntelligenceAI messaging service for vacation rentals and hotels raises $15 million $1.5 million Seed funding.
If you are a startup looking to raise a round of funding (from Seed to Series D), I can help (for free). Tourism Investors Network is a private platform where I recommend innovative travel startups to investors and innovators. If you are interested, please Fill out this form.
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Mauricio Prieto
