We publish our first quaterly report and explain reasons behind it.
We have decided to publish quarterly reports which summarize our achievements in the past 3 months for each of our ventures. Quarterly reports are a mechanism typically employed by large – publicly traded – corporations, and serve to inform shareholders and regulators about a company’s financial results.
So why did we decide to issue such – seemingly old-fashioned and coarse – reports as a dynamic start-up organisation? Well, we see at least 3 good reasons for doing so.
First, it keeps us motivated. We call this the end-of-quarter/end-of-year paradox. Anyone who has worked in a corporation, public institution or other large entity will be familiar with it. At the end of each quarter, and especially at the end of the year, each corporation feels the pressure to improve its results (financial or other) compared to the previous quarter. This pressure comes mainly from the fact that the said corporation/institution/entity has to publish its results and wants look good in the public eye. All in all, this “fake” pressure leads to improved company performance. In our case, looking at where we were and what we achieved in the previous quarter will keep us motivated to constantly achieve more in the next 3 months. Sharing those results publicly will motivate us even more.
Second, it gives clarity and understanding. Our organisation and the various ventures we lead – whether they be research projects or commercial ones – are not isolated. They exist and operate in an ecosystem of investors, clients, AI talent and various other stakeholders. Like other companies, our ventures are reliant on raising capital, recruiting top talent, making sales and gaining valuable partners. Our offer to all stakeholders is simple: we work on ground-breaking and disruptive projects that will change the status quo in many industries. Working with us, means joining us in that endeavour. For those various stakeholders, quarterly reports help to give clarity as to what we do, how we do it and what direction we’re moving forward.
Third and last, quarterly reports give clarity. Our organisation, like any other start-up culture is dynamic. Pivots, new hires, new clients, new investors, new ventures and many more are part of our daily bread. Such new developments, especially those that lead to business model changes or to opening new ventures might be confusing to outside bystanders. Therefore publishing regular updates of our work allows to give better insights into such changes. By keeping everyone abreast of what we do on a regular basis we avoid confusion and add clarity.
With all that in mind, we’d like to share with you the first quaterly results of ulam.ai for Q1 2018. In it you can find – a modest – summary of the various achievements of our ventures.