Breaking Down Techy Terms (IOT, Wearables, NFTs, Web3, AR/VR, Blockchain, VC etc.)

Today, we're keeping it simple and providing the meaning behind all of the tech terms that make some people scratch their heads due to confusion. 

To ensure all of our listeners are on the same page, we're taking some time to define: 

Underrepresented Founder
Venture Capital 
Angel Investor 
NFTS
AR/VR
Crypto
Web3
IOT
Hackathon
Decentralization

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Oculus Freebies: https://auth.oculus.com/referrals/link/CoachLWearables/

More about Coach L and Wearable Tech Ventures: https://linktr.ee/Luckifit

Transcript

00:00.00
wearabletakeover
Are you one of those people that blanks out when people start talking Web 3 nfps Cryptocurrency decentralization Venture Capital Workable technology. Could go on and on if you're one of those folks that blanks out this episode is just for you. Welcome to my tech talk where I'm breaking down Techie terms so that we can get to wealth.

00:46.28
wearabletakeover
Welcome to wearable take over the podcast variety show highlighting disruptive technology for everyday use and the innovative people who develop invest in and support it I'm laishia greenwade your host and I thank you for joining me on this episode. Of wearable takeover where we break down techie terms and. People let's get into it. The reason I am starting here is because your future depends on it if I don't talk about this to you who will and you might know that maybe 50% or more of our listeners are those that fall within an underrepresented category. When it comes to tech what does that mean basically people that have had to fight for equal pay people that have had to fight for voting rights people that don't get invited to the table or are expected to be thankful for scraps. Yes I'm talking about black brown people women. But then I'm also referring to. Those that may have different abilities than most of us. Okay, so I'm talking about all those particular groups in particular I am a black woman leading a global movement to develop and promote wearable technology. And so many people try to put me into a little box and say oh she only does black tech now. That's not it I am a black woman who is making sure that underrepresented talent has a seat at the table so that they can contribute to the evolution and innovation of technology which impacts. Our daily lives There's a big difference there now anyway, getting back to the definitions. Why does all this matter. Well basically when we look at data within ten to twenty years the overall wealth of the black family is expected to be zero zero people that's why it's important to break down these techie terms because yes we are in the midst of one of the greatest transfers of wealth in history. So why don't you hang with me for a little bit during this first episode. You can always go back to it slow it down write down some terms or even email us. And I'll make sure that our show notes highlight our email address which is listen at wearable http://takeoverpodcast.com if you have any questions I can't guarantee that we'll respond to you but we will receive it and make sure we incorporate those things into our show notes for the future. Okay, so are you ready.

03:23.13
wearabletakeover
Let's go all right? So we're going to be breaking down some techie terms and again I mentioned underrepresented and when we look at that. Historically again, we're talking about more so than anything or when you hear like companies talk about it. They are referring to black and brown people and women. Okay because again these are the folks that still don't get what they deserve and let me just give you an example of that in 2021 there were about 2% of the total venture capital funding went to women. And about 1.2 of that went to black founders out of all the funding so out of 100%. You're getting 2% or less these particular groups of venture capital funding all right? So that's interesting when we're talking about the greater transfer of wealth. How come these groups and especially when you talk about the census and looking at the demographics especially here in the United States and I know we have listeners from all around the world. Thank you so much for tuning in but this is going to help you. Why is it that these groups that are going to make up the majority of the population. Not getting or if they are getting anything less than 2% 2% or less of funding for these new innovations for their ideas. Do. We not realize that innovation has been driven by many black and brown people all these years. I mean if you want me to take you back to rock and roll if you want me to take you back to jazz if you want me to take you back to hip hop which still is raining in so many different ways if you want to take it back to even some of the things that we use on a daily basis such as the traffic light. Ah, for women. Okay sanitary napkins talking about that earning boards I mean there are so many invent. Um, and even the peanut come on people things that have been done with the peanut so that innovation was driven. By underrepresented talent and so that's why it's important that we pay attention to this now I'm going to get into some additional techie terms that you can expect to hear on my podcast in the future. All right? So let's start with I o t I o t stands for the. Internet of things and basically this describes physical objects that have sensors that can process software or other technologies and exchange data over the internet. Okay so physical objects.

06:04.96
wearabletakeover
That have sensors that can produce data based off of software that's in it and transmit that over the internet. So I Want you to think about that. What do you have? that is a physical object that transmits data over the internet. Well, if you are a healthcare patient that sees your doctor and perhaps you might see them virtually and let's say you have a heart monitor.. That's an example of how you have access to a physical object that has a sensor. Can transmit data over the internet Actually that particular term or that particular that particular picture I just described something my father goes through and he has what is called a wearable tech product in the form of his heart monitor. Okay. So when we're thinking about Pacemakerrs Deribrillators. We're thinking about patients that are involved with but dialysis diabetes any and you see like people with patches. They're menolause. Um, and even if you have on rings and even watches and things like that those are examples of products that are in a category of Iot which happened to be ding ding De- D- ding my favorite category wearable technology all right. Let me get to what is actually wearable technology and how does that differ. Well if you're wondering what is wearable technology I'm so glad to that? Okay, so wearable technology is expanding it is ever evolving and that's what I love about this category. Because in many cases people think oh wearbo technology is like your watch or your band or only is limited to airbuds and things like this and these have a branded name but I'm not going to say you know what it is but anyway. Technology is far beyond that because there are even some of your skincare companies that you can buy from the big box stores that have some things that you can place on your skin If you're going to the beach and you want to monitor your sun exposure. Okay. That's an example of warble technology. There have been cases of people planting chips into their skin so that they can unlock their homes during the pandemic and as they're developing more capability for smart homes. Ah you'll see things like that tattoos that are.

08:50.19
wearabletakeover
On your skin is an example of wearable technology when they utilize some coating or various wires. There's a number of different things that can be done with that. Um fashion. We've seen that with the Levi's jacket that if you are a bike rider. Um, you can actually connect your your your bike to your jacket or excuse me as you're riding your bike your jacket. It has fabric that is so awesome as clubbed ja card and we'll go over that in another episode all by itself because it's so fascinating. Um, and so basically your jacket helps to connect to your watch and it gives you ah Biodata that is available as you arrive on your bike and going to and fro et etc and plus you can't even manage your music from your clothing so isn't that awesome. So. There's so many different things that can be done there but I don't want to limit it to that to things that we can just see in the physical. It's also in the virtual realm so virtual reality really started to boom during the pandemic and I can recall at the beginning of the pandemic. Being on many calls especially on clubhouse talking to many innovators and organizations that were saying how can we get vr to a place where we can really scale it and optimize it if you've ever gone to the van. Go immersive show that's traveling the country they utilize vr at the end of that show. Br is also used in gaming right? And so in the gaming systems and especially if you have students or you know kids that are into rolelocks what you'll find is that they can create clothing for their particular characters in the game. Guess what? that's liable technology. So I love this category. So I'm sharing all those examples because it is ever evolving and I'm going to provide many opportunities, especially 1 in July 22 where all of you can come to an event called a hackathon. And where you can learn more about the various categories and some of the needs of companies and industries and then develop solutions for them. So let me get to this definition of hackathon and then we'll get to some of those other things. So at hackathon many of you might be saying I'm not into tech. Child I am just here to learn about these definitions. So I know what the youthf saying is to me. So okay I want to be cool. Well I want let you know have you ever had an idea you were like me and I wish I could create this product and then like you just never knew how to go about it or perhaps you didn't know how to find a develop or a manufacturer or an engineer.

11:36.99
wearabletakeover
Good thing is that you can come to what is called a hackathon and ours is going to be virtual but there are some hackathons that are Inperson and you can collaborate with people in a local setting across the country or even around the world and ours is going to be around the world and hackathons typically take place within a 72 hour period it's like a. Printn like um activity where you are dedicated for all those hours with some time for sleeping where you come up with a prototype and so you do not have to necessarily be techy to participate. There are some groups of folks that are developers. You do have some folks that know how to code. You do have some folks that are creatives and people that just have regular ideas and those that may be problem solvers that come all together and so you are able to come to this event where you may not know anyone so that's a good thing. You can come all by yourself and you can be formed with the team. And look at problem statements or opportunities to develop an idea and then come up with a prototype. So our hackathon which is going to take place this July is going to be in a virtual setting is going to be open for some of our youth as well as our adults and we have experienced folks that are and wearable. And those that are novices and so you'll be able to come and share your ideas and as far as your prototype is going to be something that you ideate together you present it in powerpoint or in some other way and you pitch it. You pitch it and that means that you have a certain time to communicate. What your proposed solution is to the problem that encompasses wearable technology you're going to talk about who it served how much it's going to take the cost how much it's going to come how much it's going to take to bring it to market and then say hey do you want to invest or do you want to work with me to make it happen. And that typically what happens so I'm so excited about that. Okay, so anyway that is what a hackathon is and typically at a hackathon you're going to find an audience of investors and so some of these investors might be Bcs which I'm going to break down venture capital or angel investors. Let me break this down venture capitalist or venture capital is basically a large sum of money that is set aside for businesses that have shown. They have tremendous traction and can be long-term high growth potential companies. Okay. So if you know someone that has an idea and they're just starting typically they are not going to go to a Vc. Okay so Bc is later later later later later. It's not the beginning the beginning typically is with your family and friends and what we know for underrepresented founders is that we're looking at the.

14:27.34
wearabletakeover
Overall wealth being almost zero in 10 to 20 years. We know that our resources can run kind of short in the prison them right? So this is where angel investors come in now. Angel investors is that next group that you go to let's say you have an Ibm with. Is a family trying to get some coin or maybe you were trying to get out there and get some grants an angel investor could be a person or an institution that has high net worth and they provide some financial backing. Okay so this isn't like you know back in the day if you will watch some movies and there was always that hustler. Will be there to provide that loan whenever you were would be down and out but there were always consequences when you got that loan right? It's not as goly as that. But that's kind of like what an angel is right except they're nice hopefully um and so in certain cases there are some angels that say hey I don't need anything back right. But then there are some angels to say yes I want a personage. Let's put a contract in place as to what it is I can't expect to receive so this is important because in those early stages where it's hard to get off the ground where you're going to need some support where the early stages are really difficult. That's where the angel investor comes in. Okay, so again, you do not go from 0 to vc? no no no honey you go from zero to yourself because you should be investing in yourself then you go to family and friends then you go to azel investing in Vc. So I hope that helps all right. So are you ready for the next thing. Yes, all right? So since we're talking about money. Honey. Let's talk about cryptocurrency now I mentioned that we are in the midst of one of the greatest transfers of wealth in history and cryptocurrency in part was driving that. So. heard of bitcoin have you heard of ethereum light bitcoin and all those other corn de backed by I ine must you know in the news. All that stuff. Anyway, this cryptocurrency is digital. It's a virtual currency that you can get online and basically you can. Open what is called a wallet and in a wallet is where you will buy and store your cryptocurrency now one of the things that a lot of people were apprehensive about early on including one of my favorite people in the world and this is the only time I disagreed with him Warren Buffett once up fact of decentralization. What does that mean basically people especially for my folks that are underrepresented um, excuse me underrepresented what does this mean this means that you don't have to go through all those barriers like you were with a traditional financing sorts in order to be qualified to get a loan et cetera et cetera all right? So you can just.

17:13.40
wearabletakeover
Purchase your coin and the good thing is when you first start, you might be saying oh I see that this particular coin may be a forty thousand thirty Thousand or whatever there's no way I can afford that you do not have to pay that in order to date a pizza. It. You can buy a percentage of it. So let's say. Starting out and you only got $25 a week that you could put towards a cryptocurrency you can buy $25 worth of crypto. Keep it in your wallet and keep behind and keep buying and keep buying until it's almost out right? So then you might want to look at etherore miss some other things so you could just buy a different coins in your portfolio. So there is no limit so to speak as to how much that you can buy or how you can get started is beautiful and then in certain wallets you can even gain interest when your money or give your own self a loan hello so founders make sure you're paying attention to me and everyday people as well. And if you want to know how to get into crypto or how to get a wallet or even if you would like some additional training on that make sure you check the show notes I have some links there to help you I love it. I love it and of course I got a real for all see. Okay, so you can too so. There's different ways that you can get paid off of these different things. Right? So that is cryptocurrency so cryptocurrency is backed by what we call block chain and so blockchain is a system which records transactions made in bitcoin or cryptocurrency and it's maintained in a peer-to-peer network. So what does that mean? Basically when people are talking about mining they are talking about how they can track what is going on with this particular currency.

19:03.36
wearabletakeover
It color and it's the same color every period right? with black base it create.

19:41.58
wearabletakeover
And this data owner and I I think also can help with the value. Is that you can what you code.

20:04.11
wearabletakeover
And there is your point is.

20:15.80
wearabletakeover
And basically this manager if you that is and. This next leg which is the box which has message that this.

20:36.49
wearabletakeover
And imagine if I had cut.

20:47.92
wearabletakeover
Let's see so that's all that's why.

20:57.39
wearabletakeover
Image Cut it pool I get outside.

21:04.20
wearabletakeover
A it is there be 1 that is what it innovates. Bit and the will be doing address as.

21:35.62
wearabletakeover
Because its so free to be held in website web three so script act a we talking about 1 of.

21:50.78
wearabletakeover
Our kids This is why we have a. To tell people from family or people.

22:04.60
wearabletakeover
That make your comments of all that yes you can take.

22:15.91
wearabletakeover
Probably doing some different types of support. So Great Have the.

22:34.60
wearabletakeover
It will take as well but over opportunity is key.

22:45.93
wearabletakeover
Allowing opportunity and.

22:52.54
wearabletakeover
Try and some of will be.

23:04.39
wearabletakeover
I'm originally from I all around the load course are. Target Advisors that present some of top.

23:22.87
wearabletakeover
The 8 and drop table will later to site to.

23:32.11
wearabletakeover
Of http://wordheadorprocast.com if you go to verbal to visit dot or.

23:47.92
wearabletakeover
And I also round a own for current and honor that has to be published.

24:00.33
wearabletakeover
I It to the world teachers.

24:11.33
wearabletakeover
I Appreciate that the support that we getting definitely here if you are company.

24:36.30
wearabletakeover
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24:54.40
wearabletakeover
On the fabric. This Adca is a pretty card.

25:00.38
wearabletakeover
So you guys play with and learn about when get or you are supporting or if you are selling product either.

25:17.76
wearabletakeover
I Love you I Want to do the. I Ask if you can continue this use keynote.

25:32.94
wearabletakeover
Try because first matter is the.