Thursday, December 26, 2019
Reflections on 2019: Anthony Citrano, Acquicient
Every year, at the end of the year, we share some reflections on the past year from our readers, entrepreneurs, venture capitalists, sponsors, and others in the local technology community. Today, we share the thoughts of Anthony Citrano, the founder and CEO of Acquicient (www.acquicient.com). We'll be featuring contributions all through the holiday season.
What was the biggest news for you/your company this year?
The birth of our company! While we were incorporated last year, the company actually came to life this year, with the formation of our team, our initial funding, and the development of our investing portal all happening in the last seven months.
What new technology area, startup, service, or app did you find most interesting or useful this year, and why?
Innovation in financial services accelerated dramatically this year. Companies are making it easier than ever for individuals to bank, save, and invest for their future. They're also making it fun. The regulatory environment is evolving as well; in mid-December, the SEC announced they are considering allowing more people to access the kinds of dynamic, higher-return investments that have traditionally been the province of the wealthy. So, we're in the early stages of a very consequential shift in financial services – investment strategies and opportunities that were once available only to the super-wealthy will become increasingly democratized.
What was the biggest lesson you learned this year?
My biggest business lesson was that emotional affinity is one of the most valuable things in the world. Any great brand marketer can tell you that, but I hadn't quite internalized it the way I did in 2019. This year I dove deep into the rarefied world of investment-grade collectibles (fine art, vintage cars, etc.) and was reminded of how subjective and intangible economic value can be. This is especially true about items that have their own stories or that have the power to evoke stories in the people who treasure them. I know that's a bit obscure, but it has really stuck with me.
What are you most looking forward to in the technology/startup world in 2020?
Lots! I am eager to see 5G finally become a reality for end users; I'm eager to see broader consumer adoption of AR (augmented reality) and XR (extended reality); and I'm excited to be part of the continued innovation in financial services.
Finally, you can't talk about 2020 without mentioning the elephant in the room: the election. The campaigns will consume a lot of sociocultural oxygen and the tech world is not insulated from that. Regardless of the outcome, the results will bring some clarity about the years ahead and the industry will certainly respond to that.
Anthony Citrano is founder of Acquicient (www.acquicient.com), a new startup in Los Angeles focused on letting individuals in museum-grade collectibles such as classic cars and art, without having to invest millions of dollars in those assets. Anthony previously was a VP at Verizon and EdgeCast.