It’s the kind of Friday that almost deserves some sort of happy dance. Almost. But before you start shaking it for the start of the weekend, see what’s shaking in monetization. First, we’ll sneak a sip of sweet berry wine recurring revenue, take mandated connected car features for a spin, and see what’s new in Capital One’s digital wallet.
Pour me some recurring revenue (and wine)
Why is recurring revenue from wine so great? Because it’s wine, dummy! The vino biz is traditionally transactional. The winemaker makes a huge investment in grapes and producing wine, then sells it wholesale and to consumers. But today more sophisticated wine clubs are in vogue, where you commit to buy two to four bottles of wine a month from the club by giving them a credit card. They curate the wine to your tastes using a variety of methods and, like Netflix, based on your ratings of the wines you get, improve their selections to your palate. I am getting strangely thirsty…
Connected cars could become mandatory
Don’t care for connected car features? Well, that’s too bad because some of them could become mandated soon. The NHTSA is considering mandating some vehicle-to-vehicle (V2V) communications that can be used to improve safety on the road. The Notice of Proposed Rulemaking would enable vehicle-to-vehicle (V2V) communication technology on all new light-duty vehicles, enabling a multitude of new crash-avoidance applications that, once fully deployed, could prevent hundreds of thousands of crashes every year by helping vehicles “talk” to each other.
What’s new in Capital One’s wallet?
When you think Capital One, you think credit cards. And maybe Samuel L. Jackson. But is it becoming a “tech” company? The consumer credit giant has been charging through a digital renisaance, with a big focus on AI-related tech. It’s one of the largest and among the first banking institutions in the U.S. to make serious investments in digital technology and artificial intelligence. Several major financial services firms have publicly announced ambitious plans for AI, including consumer-facing chatbots. Months later, they still haven’t shipped. Capital One is one of the few exceptions to the rule.