No. Holes barred.
PowerbyProxi is one of those companies that has been destined for greatness for a long time and somehow managed to avoid it. Several years ago the company got investors on board in the form of Samsung and the future seemed bright, but nothing much came of it. Then there was talk of a float on the New Zealand stock market and again, nothing came of it.
Now, however, the company has struck the big time. The whole thing has been bought by Apple lock, stock and barrel, and that gives the company the backing it needs to change the world.
Apple is keen on producing a phone that has as few holes in it as possible and having done away with the headphone jack its next big target is the power plug and that's great news for PowerbyProxi.
PbP has demonstrated its charging capability several times - including its funky "chuck everything electric into this bowl" recharging solution. But the real benefit for consumers lies in building the charging plates into everything around us. The desk (for laptops, phones, mouse, keyboard, speakers, printer, laminator and other electric devices), the arm of the sofa (for remote controls, headphones, game controllers) and even counter top in the bathroom (for hair dryers, electric razors, toothbrushes and so on).
The age of the cord is at an end and that's a really good thing.
But while it's good for the company, it's a huge loss for New Zealand. Sure, the work will continue here and sure, it's a viable exit for the early stage investors but it's a loss for New Zealand Inc because the company is no longer Kiwi owned and operated.
And the blame for that rests squarely with New Zealand's investment community.
Early stage investment in New Zealand tech companies is really hard to come by. Investors seem happy to put money into traditional companies, or into established companies (although even then PowerbyProxi couldn't get an IPO across the line) but when it comes to actual innovation, the buck stops early.
This will have to change. We have tremendous products and technologies being developed right here in New Zealand and if our investors and advisors don't see the value in them others will.
So a bouquet for PowerbyProxi and the team and I look forward to using your products in the future even though they'll be stamped "Designed in California".
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