Hey, Shreveport – are you tired of that headline?
We’d like to introduce you to a possible solution: ShotSpotter. Leave it to the American entrepreneurial spirit to find a solution to a problem!
ShotSpotter uses auditory sensors to detect, locate, and alert police to gunfire. It is already being used in Baton Rouge and Little Rock, and, if the Shreveport budget has room for it, these sensors may be coming to a neighborhood near you. In fact one is already in use at a local magnet school thanks to a concerned group of parents.
The company seems to be gaining traction as the national debate over gun violence continues. As of Q1, 2019, ShotSpotter’s sales had grown by nearly 50% – MUCH faster than the 6% sales growth of the S&P 500.
Critics of ShotSpotter generally fall into two camps. Some say it is too expensive. Others say it is reactive in nature. But recent changes within the company may leave the naysayers with less ammunition.
ShotSpotter’s recent acquisition of HunchLabs aims to silence their critics. It uses predictive algorithms to proactively help position police to stop crimes before they occur. While this may sound like the stuff of science fiction – we’re talking about using math to stop crimes before they start – it is not so different from the infield shifts that are commonly used today in major league baseball.
According to Caddo Commissioner Mathew Linn, ShotSpotter (like most technology) is becoming less expensive. Linn says the commission studied the technology a few years ago, but declined to fund it due to lack of support from city hall. He remains hopeful that the new administration will be open to the idea.
The most basic role of government is to ensure the rule of law and to protect the citizenry. Although the budget in Shreveport is tight, what could be a higher budgetary priority than the safety of our people?
About the Author:
Ben James is the co-founder of Deupree James Wealth Management, a boutique investment firm in Shreveport, LA. Deupree James offers a unique strategy that invests in under-the-radar stocks like ShotSpotter before they are broadly followed on Wall Street. The author, his family, and his clients may own stock in this company. If you’d be interested in learning more about Deupree James Wealth Management they can be reached at email@example.com.
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Securities offered through Triad Advisors, LLC. Member FINRA/SIPC. Investment advice offered through Goss Advisors, a registered investment adviser. Goss Advisors and the Deupree James Group are separate entities from Triad Advisors, LLC.