Tag: Tech Events

My First Online Business Networking Event with Introbiz…

Online Zoom Networking

Yesterday I took part in my first Online / Virtual Webinar based Networking Event, where Introbiz Business Network, innovated and adapted to switch their cancelled real world business networking event online, after their networking event in Cardiff, was one of the many event victims pulled, due to Coronavirus.

30 members of the Introbiz Business Network attended this first online / virtual networking event and the majority seemed happy and positive with the event and the way it was conducted.

The usual power networking format of everyone getting a few minutes to talk about their business was still followed online and the web system of choice for the virtual / online business networking event was the Zoom platform.

Other than a few technical issues here and there the event went well and was really useful for those in attendance to continue to network and build relationships even under the current self isolation restrictions.

Lessons will be learnt and the online / virtual events will get slicker, but all in all the event went really well.

As well as local South Wales members, the online networking event was also joined by wider network contacts and Entrepreneurs from further afield such as England, Ireland & Sweden and I’m sure the spread of networkers will continue to grow as this online networking event format gets repeated several times whilst Coronavirus Measures continue to strike the usual networking event format.

In addition to joining the Introbiz network for attending real world events, new virtual networking members from around the world can now join the Introbiz network and attend the online / virtual networking events for just £99 a year.

See https://www.introbiz.co.uk for more pictures from the event and details how to get involved.

Business and Sports News from Mike Armstrong – See http://mikearmstrong.me

Tech Event News…

MA News

MA News

As the novel coronavirus continues to take a human and economic toll across the world, the lucrative business of tech conferences is not immune. 

The direct economic loss from the cancellation of major tech conferences like Google I/O, Facebook’s F8 event, and Mobile World Congress over coronavirus has already passed $500 million, according to estimates the data intelligence company PredictHQ pulled for Recode. That number doesn’t even include what event organisers like Facebook itself would have made from the event.

The figure just covers the losses to airlines, hotels, restaurants, and transportation providers that would normally make money from attendees’ purchases. 

Some $480 million — the vast majority of that total loss — comes from the cancellation of Mobile World Congress, which was supposed to host more than 100,000 attendees in Barcelona last month.

That’s followed by the cancellation of Google I/O, a 5,000-person developer conference whose direct losses are estimated to reach nearly $20 million. 

While a number of events, including Facebook F8 and Adobe Summit, will still have an online component, that effort does not stave off the significant economic loss from canceling the physical event.

PredictHQ looks at losses from four categories: airfare, lodging, food, and transportation. That means this is a very conservative estimate since it doesn’t include losses incurred from, say, event sponsors, purchases that employees might have made, or ancillary impacts to the local economy. 

The Game Developers Conference, a 30,000-person event that was scheduled for March but has been postponed, is not yet included in this data. 

PredictHQ said there was a 500 percent increase in major event cancellations and postponements last month, and the International Air Transport Association estimated last month that the new coronavirus outbreak could cost it more than $29 billion in revenue. 

Oxford Economics estimates that business conferences generate more than a trillion dollars in direct spending annually; so far these canceled tech conferences haven’t put a major dent in that. Still, both tech companies and consumers will be responsible for bearing the brunt of their losses, as most major insurance companies exclude communicable disease losses from reimbursement. 

These cancellations come as more than 3,100 people have died and nearly 93,000 have been diagnosed with coronavirus. Numerous tech companies, including Twitter and Square, have told their employees to work from home. Several other major companies, like Amazon, have canceled nonessential travel, especially internationally. Mentions of working from home also skyrocketed last month in public company transcripts. If more companies follow these tech companies’ lead, it could result in a test of people’s ability to work at home en masse rather than in the office.

Apple is still expected to hold its giant developer conferences later this spring. Austin’s South by Southwest is on for later this month, although major tech companies like Facebook, Intel, and Twitter have pulled out of the event. Were SXSW to cancel, total tech conference losses would reach nearly $900 million, according to PredictHQ. Recode’s own Code Conference is still scheduled for the end of May.

As the threat of coronavirus grows, it’s likely more companies big and small will decide to cancel their conferences. It remains to be seen how big those losses will be.

For more on this and other news follow the link.

Business and Sports News from Mike Armstrong – See http://mikearmstrong.me