Seeing Japan with #Airbnb

Hotels in Japan can be very expensive, and despite the fact that the shared economy operates in something of a regulatory grey area, I am pleased to say that the experience of using Airbnb throughout my recent visit was a great success. Luckily, my travelling partner had done extensive advance research, so there were very few hitches.

Kan Yasuda: “Shape of Mind” (2006) Photo © Rory Manchee – all rights reserved

Whether innovation is on the rise in Japan, or whether the “illicit” sharing economy is gaining traction, it seems that Airbnb in particular appeals to certain enterprising and entrepreneurial types who see an opportunity in the current market. The various hosts comprised an agent managing several properties on behalf of the owners, professional couples renting out an investment or spare apartment, and a self-motivated entrepreneur also building social enterprises.

I won’t specify the apartments I stayed in, partly because these particular hosts in Tokyo, Kobe and Kyoto are proving very popular (especially over the upcoming holiday season), and partly to avoid any potential “regulatory” hassles. But hopefully the following insights will be helpful in planning your own trip.

First, the bookings were all for self-contained apartments (usually a studio dwelling, close to public transport), and selected based on previous positive feedback. In each case, the accommodation was situated in older, low-rise developments, located in mainly residential neighbourhoods. In one case, it was a traditional apartment, complete with tatami mats, sliding doors/room dividers, and an older style wet-room bath and shower.

Second, the “hosts” were all very helpful in giving travel directions, offering suggestions on where to eat nearby, and/or providing local guides and maps. One had even posted a self-made YouTube video showing the walk from the train station to the front door. Obviously, the fact that they were happy to take bookings from foreign visitors meant that all of the communication was conducted in English.

Third, for the most part decor was simple but comfortable, but some of the beds were on the small side. And one apartment was owned by a fan of a certain cartoon character, with furnishings to match, which was quite surreal.

Fourth, due to the apparent semi-legal nature of Airbnb in Japan, the hosts were keen to make sure that not only did their guests not make any noise or disturb the neighbours, they did not want guests either to talk to or to answer the door to strangers. One host even suggested that if guests put rubbish in the wrong place for collection, they would be extorted by the local Yakuza.

Lastly, although the basics were consistent (bedding, towels, soap, shampoo, hairdryer, cutlery, crockery), there were some significant differences in what other facilities were provided, as follows:

Apartment 1

Location: Close to the Metro, convenience stores, restaurants, bars and a shopping mall. Also, in the vicinity of museums, galleries and other cultural attractions.

Accommodation: Studio apartment, with own bathroom and kitchenette.

Amenities: No TV, but free WiFi, kettle, microwave, single-burner stove, fridge, washing machine.

Apartment 2

Location: Reasonably close to the local private railway station, supermarkets nearby, and a couple of small shops in the area. No bars or restaurants in the immediate neighbourhood, which was mostly residential, but there were the ubiquitous vending machines. More choices in the nearby suburbs.

Accommodation: 3-bedroom traditional apartment (tatami mats, futons), with own bathroom and kitchen/diner. Very spacious.

Amenities: No WiFi and no washing machine, but free-to-air TV, kettle, microwave, single-burner stove, fridge. And no knives. Of any kind.

Apartment 3

Location: Very near to a large JR station and major bus routes, with a supermarket and a couple of convenience stores on the same street, and several small bars and restaurants close by. Mixed residential, commercial and light-industrial area.

Accommodation: Studio apartment, with own bathroom and kitchenette.

Amenities: Free portable WiFi, free-to-air TV, kettle, single-burner stove, fridge, washing machine. But no microwave.

Apartment 4

Location: Few hundred meters from a major interchange station, and very close to several convenience stores, bars, restaurants and a decent coffee shop. Adjacent to a very popular shopping, eating and entertainment precinct, getting very trendy with the hipster brigade (even some co-working spaces in the neighbourhood!).

Accommodation: Studio apartment, with own bathroom and kitchen/diner.

Amenities: No microwave, no stove and no TV. But free WiFi, hot-water urn, fridge, and washing machine.

Finally, the only major criticism I have is that the Airbnb app itself was not that easy to use while travelling, so messages to/from hosts were often delayed. (More on Japan in coming weeks….)

Next week: navigating #MedTech

Japan – renewing my long-standing relationship

I’ve just spent three weeks in Japan, travelling around by train, staying in Airbnb accommodation, and soaking up the art, architecture, design, food, beer and general culture. It was the longest time I have spent in Japan, and several years since my last trip in 2010. But given I have been to Japan more than 25 times in the past 20 years, it was like renewing an old friendship.

Image © Rory Manchee - all rights reserved

Akashi Castle – Photo © Rory Manchee – all rights reserved

My earliest visit to Tokyo, back in 1995, was to spend a few days with a friend from London who was managing a now-forgotten Britpop band on their debut tour of Japan. After attending a couple of their concerts, being entertained by their Japanese record company, visiting a few tourist spots and hanging out in a number of Tokyo nightclubs, it was a very limited/skewed introduction to the country.

My next visit the following year was even shorter, and even more skewed. Another friend from London (now a well-known writer and broadcaster) was supposed to be covering yet another Britpop band on their Japanese tour, on behalf of a British magazine. Instead, we scored some free tickets to see the Sex Pistols at Budokan (it was their infamous Filthy Lucre tour), and my one night in Tokyo was spent drinking with the band after the gig, in a bizarre subterranean bar. But that’s another story.

Most of my trips to Japan have been for business, and only to Tokyo. So this latest visit was an ideal opportunity to stretch out and explore in more depth. Over the next few posts, I’ll be commenting on my experiences, across such topics as coffee, AirBnB, art & architecture, crate digging and some navigational issues.

First, here are just a few of the reasons why I appreciate Japan:

  • The love of good design
  • Hardly any graffiti, virtually no petty vandalism, and scarcely any litter
  • The food
  • People rarely talk on their mobile phones on the train or in public places
  • The service culture and overall politeness
  • Trains run on time
  • The convenience stores
  • IC cards (take note, Myki…)

Of course, nothing’s perfect: Japanese TV is mostly awful; good espresso coffee is in short supply; everything comes over-packaged; and in many situations, it’s still a cash-only economy. I also appreciate that it’s a complicated society, often seen as repressed, and difficult for outsiders to understand.

But for all its challenges, Japan must be doing something right, as in-bound tourism numbers (especially from Greater China) are at record-breaking levels.

Next week: Seeing Japan with #Airbnb

 

Finding Careers in #FinTech

Through the many meetup events I attend around Melbourne, people often ask me for career advice on which FinTech startup to join or follow. In response, I try to summarise where I see the current state of the sector, and clarify where they see a role for themselves – information I am happy to share here. I should preface my remarks by stating upfront that I am not a qualified career adviser (but I can refer you to people who are).

First, in choosing to make a career move to FinTech (or any other startup venture), it’s important to know whether you are looking for a similar role within a new business, or making a move into a new area such as product management, UX, content development or coding. Assuming you have acquired the necessary technical skills to transition into a new role, you still need to work out what your personal fit will be in a startup environment. Alternatively, you must demonstrate an ability to apply your knowledge and experience to the benefit of the new business, and a willingness to learn on the job (and perhaps even in your own time, and at your own expense). Accountants who can write code might be rare, but someone with a finance background and who is proficient in writing spreadsheet macros may have a better chance of transitioning into coding if they can build on this core expertise (e.g., helping to develop algorithms for decision-making tools such as stock-screening applications).

Second, FinTech within Australia is still largely based on P2P lending (including SME), payment solutions, banking apps and price comparison platforms, with some developments in financial planning (“robo advice”, stock tracking, portfolio management). Oh, and cryptocurrency, although since CoinJar relocated to London, this seems to have gone quiet…. While there are some B2B FinTech startups (e.g., Moula, Bluedot), they are still in the minority, so the current opportunities are mainly going to be within B2C solutions, or those playing in two-sided markets. This dynamic will also influence your decision.

Thirdly, everything we are seeing points to exponential growth in mobile banking, payments and financial services, but each vertical is taking a different approach because of their respective regulatory frameworks, transaction models tied to technology platforms and commercial processes, and the underlying lack of a true “single view” of customers. For example, within the next 10 years, 80% of new superannuation accounts will come via mobile engagement – which is why we are seeing a growing number of industry funds targeting a younger audience, aligning with “lifestyle” choices, and bundling financial planning and advice services. Rather than “big data” dumps, these super funds need demographic and psychographic data to support their digital engagement strategies.

Fourthly, FinTech is obviously important, but it can no longer simply play on disruptiontechnology is the enabler, and partnering is the way forward. If you have a track record in bringing parties together to collaborate, to form joint ventures, or to engage in any sort of co-branding exercise, then you will find opportunities emerging all the time. As discussed at a recent FinTech event, even large banks are realising the need to partner and collaborate on new technology, especially when it’s not part of the bank’s core expertise. However, as one superannuation fund director told me, it’s also challenging for large organisations to outsource part of their technology to smaller companies because they are giving someone else custody of their brand.

Finally, it’s difficult to predict what the FinTech jobs of the future will be (just as 10-15 years ago, roles in content marketing, social media and SEO hadn’t been thought of). A simple principle that has helped me navigate a zig-zag career path (to transition from the public sector into large corporations, and from full-time roles into a portfolio career) has been knowing my transferable skills at all times, and being aware of the need to replace and refresh them as required.

Next week: What I did on my holidays…

#FinTech: The 8 things I want from mobile banking apps

As we await the launch of ApplePay in Australia, and in light of the plethora of mobile banking tools, here is my wish list against which all such apps should be assessed:

  • TRUST – is my money safe?
  • CONVENIENCE – can I do multiple transactions from within the same app?
  • SECURITY – is my personal data secure?
  • RELIABILITY – will it always be there when I need to use it?
  • FLEXIBILITY – can I access and transact with all my accounts, brands and products from a single app?
  • COST – can I expect lower transaction, service and account fees if I use it?
  • SPEED – is it real-time?
  • EASE OF USE – is it intuitive?

Next week: Finding a career in #FinTech