Warby Parker, Dave Gilboa, Gildo Blumenthal discussed on Jill Schlesinger on Money

Automatic TRANSCRIPT

Back. It is Jill on money. And as we begin this weirdo holiday season, I know a lot of you are missing the physical, the in store experience. Even though some of those experience a pretty rotten but summer so cool, you know, I remember. I did a segment a couple years back about. I think it was. I think it was Patagonia. It was either Patagonia Rory I where they built a igloo in the store, and you could try Parker's and boots on in sub zero temperatures to see how warm they were like that is a cool in store experience. You know what's not cool in store experience, basically walking through any department store in America, even the high end ones. That's not fun. It just isn't And you know, I love sex. I really do. I love sex in New York, but Half going in there. What a hassle. So anyway, we're continuing our interview with the co CEOs of Warby Parker. And in this end of the interview, we're going to conclude it with a discussion about their physical stores. How they designed them, how they lay them out and really what they're doing differently to bring a customer experience of buying glasses, buying contacts now and other things to a different level, and I think it's really interesting, so I hope you enjoy this again. We conducted this interview before the pandemic. That's why there's no mention of it, and we don't talk about masking up in their stores. Here is the conclusion of our interview with Dave Gilboa and Neil Blumenthal, the co CEOs of Warby Parker When I walked into the story, so of people that had ipads and I saw a lot of people in there, and I saw the exams that were happening, and it seemed very It is bustling. The other thing I saw in the store were books. How did this come about? When did you start putting books in your physical stores? There? Was that always the case? Yes, It's really been a core part of the brand identity since day one. There's such a tie between classes and reading and learning. And the name Warby. Parker actually comes from too early Jack Kerouac characters. So it took us six months to come up with a name that we all really liked. A time we were launching business. There were some other sites that were selling glasses online. They had names like $39 glasses dot com and direct calm and we wanted a proper name Seo the fact that we were launching a fashion brand and doing something different, and we didn't think Gildo Blumenthal really rolled off the tongue doesn't mean it's works for your marriage. But other weapons now on DSA way, spend a lot of time talking about artists are authors that represented the brand ideals that we were trying to create. Including the beat generation writers and Jack Kerouac. And, coincidentally, the New York Public Library had an exhibit on Kerouac's private journals. And so I went up to that exhibit, and he'd written about these characters with really interesting names and the two that jumped out where we'll be Pepper and Zach Parker. Andre Love those names and decided to combine the two and make it our own in since that time as we were kind of building out the brand identity in architecture, er have really incorporated literature and in books and toe kind of every aspect of the grant. I want to point out what you're missing in those stores in terms of a buck. Financial book. And you know what? Miraculously, I've written one. So I just want to pitch myself right here I've got I've got the decision makers here. So if you would like a copy of the dumb thing smart people do with their money in your actual Warby Parker physical locations. I would be delighted to do something around that. I just want to put it out. Yeah. You know what he's like. Why am I in the studio right now? On this end any time soon. What's your worst financial decision? What did you do? Did you like, buy something at the top or do something dopey When I was eight years old, I bought a food dehydrator thinking that I was going to sell dried fruits on the streets of New York with that didn't really work out which, thanks to do I just want to point that out. Oh, yeah, Like everyone needs apricots, don't they? Not of the ship, but in every day, that's when you need it. What about you, Dave? Um yes, I went to Berkeley and so you know, right in the heart of Silicon Valley, and I was a freshman and 1999, so I've kind of showed up. It seemed like everyone that was investing in anything. It was just Printing money and set up e trade account, and I didn't really have any money. And but it's pretty easy to kind of set up a margin account where I could just borrow money and I didn't really understand probably would have to pay that back. If things work out, and then the bubble burst and quickly realized that I probably shouldn't be investing things that no idea what the company's actually did. Well, thanks again, too. Dave Gilboa and Neil Blumenthal from Warby Parker. Really interesting guys, and I have to say it's so enlightening to meet with people who didn't start their lives, saying, I would like to be an entrepreneur. They just tried to solve a problem. That's kind of cool. Anyway. Let's just finish up this segment with one of your questions. This is from Timothy. Who says he heard the interview that we conducted with the trust in a state attorney last week, and so here we go, he says. My wife's parents just finished creating a trust document. With my wife and her brother as co trustees in the event of their passing. We've read the trust, and we kind of struggled to understand the legal gibberish. Should we hire our own attorneys to review the trust Doc and answer our questions or direct our questions to the firm that drafted the tough trust? Thanks in advance. Tim Tim just do it to the guys who drafted the trust. I mean, there's.

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