More from these Authors

• Case | HBS Case Collection | December 2018 (Revised April 2020)

  Fluidity: The Tokenization of Real Estate Assets

  Marco Di Maggio, David Lane and Susie Ma

  In December 2018, the blockchain startup Fluidity was about to participate in its first tokenization deal, which would create digital access to property rights in a 12-unit Manhattan condominium complex. The deal was proof-of-concept for Fluidity, which hoped to develop a business digitizing securities issuance for other real estate assets on the basis of its technical facility with blockchain technology, and in conjunction with its broker-dealer partner, Propellr. A successful transaction would only prompt larger and more urgent strategic questions, however. Among them was the appropriate revenue model for Fluidity—whether to grow by providing its technical services to broker-dealers, by going into tokenized securities issuance, or by harnessing its trading technology to facilitate a secondary market in tokenized securities.

  Keywords: Blockchain; tokenization; data security; revenue model; Finance; Technological Innovation; Strategy;

  Citation:

  Di Maggio, Marco, David Lane, and Susie Ma. "Fluidity: The Tokenization of Real Estate Assets." Harvard Business School Case 219-057, December 2018. (Revised April 2020.)  View Details

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• Case | HBS Case Collection | March 2020

  SRS and the Defense Innovation Unit: Rethinking Procurement

  Paul A. Gompers and David Lane

  Citation:

  Gompers, Paul A., and David Lane. "SRS and the Defense Innovation Unit: Rethinking Procurement." Harvard Business School Case 220-047, March 2020.  View Details

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• Case | HBS Case Collection | July 2019 (Revised March 2020)

  At-Bay Cyber Insurance

  Marco Di Maggio and David Lane

  At-Bay was a cyber insurance startup that offered companies coverage against a wide array of cyber risks—exposure to which the firm was able to quickly assess and price on the basis of technical expertise that traditional insurance carriers lacked. In mid-2019, At-Bay was working to build underwriting revenue ahead of a Series B round of venture funding that the company hoped to receive by year’s end. This required not only scaling its underwriting capacity and convincing insurance brokers to include the startup among the carriers they quoted to their corporate clients, but also ensuring that At-Bay avoided the temptation to grow revenues by taking on riskier clients than it might otherwise prefer.

  Keywords: Business Startups; Insurance; Disruptive Innovation; Risk Management; Product Marketing; Distribution Channels; Information Technology; Salesforce Management; Insurance Industry;

  Citation:

  Di Maggio, Marco, and David Lane. "At-Bay Cyber Insurance." Harvard Business School Case 220-005, July 2019. (Revised March 2020.)  View Details

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