FTSE 100 Index sees a drop as Brexit talks continue
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
In an exclusive interview with Express.co.uk Mr Newns, 36, shared the best practices for entrepreneurial success as well as some exclusive insights on his latest endeavour and his opinion on how data technology is being used against the consumer. He said: “One looks at entrepreneurs and goes ‘oh what a wonderful life that must be’ but actually there’s a whole dark side to it.”
Mr Newns has seen astronomical success throughout his relatively short entrepreneurial career, where he both founded and sold two companies for a hefty price tag of £158million and doesn’t look to stop anytime soon, excited about future prospects and his latest venture.
“Things are changing quicker than ever, the way we operate in the world, the way we buy things, the way we interact with people.
“Can you imagine the future? Probably you’re not going to be a one career person, you’re going to have a few careers and how do you change and adapt? So, resilience I think is going to be the number one skill.”
“Resilience is something that I think is going to be a massive skill in the future. It’s not something you learn at school but really managing resilience and change for entrepreneurs specifically is a massive core skill but nobody really talks about it.”
Mr Newns continued, adding that in order for an entrepreneur to be truly successful they need to be able to consolidate their product with their passion and mission.
He explained: “The mission has to be important to you so you’re solving something that you see as a big problem.
“When we say think about things you’re passionate about, it might not be the mission but it might be what you like seeing.”
For Mr Newns, this meant being able to hire people who had done amazing things in their careers and watch them continue to develop and grow within his company.
“As an entrepreneur you have a unique gift to be able to do that for people, you become a mentor to people without even knowing it.
“I don’t think a passion has to be ‘I want to solve this world problem’ it can actually be much more about people or the way you want to be.”
Speaking about his up-and-coming business Prevayl, which aims to provide people with incredible insight into their mental and physical health, Mr Newns commented: “We have an unbelievably amazing team, we’ve just closed a £7.5million Series A investment and we’re launching in September.
“It’s athleisure wear with invisibly integrated sensors. If we get this right, we’ll have more biometric data points than any other company in the world and that will enable us from an AI perspective to go into places we can’t even dream about today with predicting health outcomes.
“Everything from physical health but also mental health, it will tell you how stressed you are, it will help you breathing exercises. It’s really bridging that gap between mental health and physical health.”
However, whenever businesses get involved in the collection of personal data, consumers tend to scrutinise the product a lot more for fear of their data being used for other purposes.
Mr Newns explained just what is happening to consumer data collected by large tech companies: “If somebody can have so much information and so much control in terms of where that data is being used it’s scary.
“Big tech tries to come across as ‘our consumer is the people using our products’, that’s not the case, the people actually paying them are advertisers – so their customers are advertisers, and it’s almost like the consumer is their product.
“Fundamentally tech is about selling data to advertisers, and you are the product rather than the customer. That’s the problem; the model is the wrong way round,” he concluded.
What Mr Newns believes is needed to reverse this business model is just one strong entrepreneur with a good idea: “It all starts with entrepreneurs doing something really ground-breaking, that’s what is needed now in this whole space is somebody needs to come and change the way things are done.
“If somebody can solve the way advertisers talk to consumers in a way that doesn’t involve selling lots of data, it will just change the rules.”
Source: Read Full Article