Real estate, especially retail malls and shopping centers, has been at the center of most discussions about digital disruption. At the same time, WeWork and its ilk have changed the game for the commercial office sector.
But hold on and fasten your seatbelts, because the game has just begun. Softbank recently launched a $100-billion fund with a mission to invest in entrepreneurial technology. They are providing an overwhelming amount of capital to startups that are out to revolutionize real estate.
The fact that venture capitalists have created the “PropTech” category of investment for real estate indicates that opportunities to disrupt an old-line business sector abound. In New York City alone, there are currently 575 technology start-ups that are focused on real estate.
These ventures have the best and the brightest minds focusing on how they will disrupt the way business is done. For some, this is an exciting development. Yet for others who are not equipped to deal with change, the game may soon be over.