{"id":21741,"date":"2016-06-10T15:54:37","date_gmt":"2016-06-10T19:54:37","guid":{"rendered":"https:\/\/www.wework.com\/creator\/?p=21741"},"modified":"2020-04-03T17:51:37","modified_gmt":"2020-04-03T21:51:37","slug":"try-size-wristband-makes-spend-money-wisely","status":"publish","type":"post","link":"https:\/\/www.wework.com\/ideas\/community-stories\/member-spotlight\/try-size-wristband-makes-spend-money-wisely","title":{"rendered":"Try this on for size: a wristband that makes you spend money wisely"},"content":{"rendered":"

\u00a0<\/strong>It\u2019s hard to track your spending these days. In the age of digital banking, carrying around cash is less common, so you don\u2019t realize how much you\u2019re spending. Two WeWork members have collaborated on a project to literally shock you into not breaking your budget.<\/p>\n

An innovation and creative agency, 10X<\/a>, and a wearable device maker, Pavlok<\/a>, have a shockingly clever idea to address this problem. By partnering with 10X\u2019s client Intelligent Environments, they created a system where shocks are administered automatically when people try to break the bank and go outside their budget. The shock-inducing bracelet, similar to the look and feel of a Fitbit or Jawbone watch, warns people if they\u2019re swiping their credit cards or making online purchases too many times.<\/p>\n

But don\u2019t worry: the shocks are just meant to give a wake-up call.<\/p>\n

The intensity is adjustable says Sims McGrath III, director of marketing at Pavlok. Set it at 10 percent and you might not even feel it. A little higher, and it\u2019s like a tap on the wrist.<\/p>\n

\u201cIf you get towards 100 percent, it feels like a pinch,\u201d says McGrath, a WeWork Fort Point<\/a> member. \u201cIt\u2019s like in the winter\u2014when you rub your feet on carpet and touch something metal, you get zapped.\u201d<\/p>\n

Hew Leith, CEO and founder of 10X, says he was thrilled when he realized Pavlok was a WeWork member. His team immediately got in touch with them to create a way for Pavlok\u2019s technology to serve multiple purposes. One versatile function is using Pavlok\u2019s module to connect to the Nest thermostat and turn down the heat when users are overspending on their heating bill, says Leith, a WeWork Devonshire Square<\/a> member.<\/p>\n

Wearable devices aren\u2019t anything new. What makes Pavlok unique is it can work in tandem with other fitness trackers like Fitbit or Jawbone.<\/p>\n

\u201cWe rely on other wearable devices to track information for us,\u201d says McGrath. \u201cAnd instead of being the tool that tells you what\u2019s going on, we\u2019re the tool that\u2019ll change your behavior.\u201d<\/p>\n

Collaborating with Pavlok has been a seamless process for 10X, despite the distance between Boston and London.<\/p>\n

\u201cThe team there was extremely helpful,\u201d says Leith. \u201cThey even shipped the device over to the U.K. in record time for a hackathon which was happening\u00a0in 48 hours.\u201d<\/p>\n

Other collaborations are in the pipeline for the agency. 10X plans to continue connecting with other WeWork members to help transform and shape their creative outputs.<\/p>\n

\u201cWe’ve got some exciting projects coming up with other several WeWork members,\u201d Leith says. \u201cThese are ‘world firsts’ that solve genuine problems. They’re top secret for now, but let’s just say the next one involves artificial intelligence.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0It\u2019s hard to track your spending these days. In the age of digital banking, carrying around cash is less common, so you don\u2019t realize how much you\u2019re spending. Two WeWork members have collaborated on a project to literally shock you into not breaking your budget. An innovation and creative agency, 10X, and a wearable device […]<\/p>\n","protected":false},"author":917,"featured_media":34802,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43903,43911],"tags":[],"class_list":["post-21741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-community-stories","category-member-spotlight"],"acf":[],"yoast_head":"\nTry this on for size: a wristband that makes you spend money wisely<\/title>\n<meta name=\"description\" content=\"\u00a0It\u2019s hard to track your spending these days. 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