1. Samsung's big bet: put American software startups inside its most important hardware

    With GIC, Samsung is hoping to absorb some of the hacker agility found in Silicon Valley and New York. This year will be the crucial test for its ability to forge successful integrations between those worlds. Three startups it brought into the fold — SmartThings, LoopPay, and Pixie — will play critical roles across Samsung’s most important consumer categories: appliances, smartphones, and televisions.

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  1. Quotes

    1. People are always looking at their phone during the game, reading tweets and checking stats.
    2. The real big difference for us is that we get distribution.
    3. Samsung is a company with over $200 billion in revenue, mostly driven out of selling hardware and components.
    4. We're trying to create break-out software services to complement hardware.
    5. For a successful integration, it really helps to have a champion like David. If we had stayed within GIC, things might have gone differently.
    6. We need some sort of a bridge that connects the two worlds together, because these are very different worlds. We need to have some sort of mediation function in between, and GIC has been playing that role quite well.
    7. We wanted to acquire it, but keep it open.
    8. This isn't our first time to the rodeo.
    9. Administration, operations, finances, especially raising capital. Those take a lot of time. What we've said is, let's essentially take all the thumbtacks out of the carpet so you can just run.
    10. Administration, operations, finances, especially raising capital. Those take a lot of time. What we've said is, let's essentially take all the thumbtacks out of the carpet so you can just run.
    11. During my 15-month tenure here, I have never seen any other company that has more willingness to change the way it operates as a business, Having a team of people like we do at GIC, we can skip through a lot of the corporate bureaucracy.
  2. Authors