8 Burst results for "Bain Consultants"
"bain consultants" Discussed on The Information's 411
"That amid the flurry of tech deals tiger has been the flurry. Est it's alpes. Sequoia capital recent horowitz and excel in the number of startup deals. It's done this year. But who is this quiet press-shy firm who is tiger. That's the subject of our first segment on today's episode of the four one one. I'm cory weinberg. And i'll be speaking to my colleague. Kim clark who just came out with a fascinating feature inside tagger goebbels deal machine. Kate spent time talking to founders. Nbc's about what makes the firm unique and what they're investing streak tells us about venture capital in twenty twenty one. Then we talked travel startups investing in trouble. Startups has been understandably week over the past year. But it's starting to turn the corner. Wendy pollock the information senior editor. And i will have a conversation about story. I wrote this week about what's going on with startups like saunder trip actions and hopper and we'll even talk a little bit about airbnb but first let's talk tiger global with venture capital reporter kit. Clark all right kate. You've just spent a bunch of time trying to understand. What has the impact been of this one. New york hedge fund tiger global management but their impact has been on startups in silicon valley. Why did you pursue the story. What what got you intrigued by by tiger. The reason i chose tiger was because they were leading rounds pretty much every day. I was getting an e mail in my inbox from you. Know someone that works. Npr saying are you interested in in writing company. They're announcing around. Tiger global is leading and i've heard of them for years of course they're not new as very clear in the story. They've been around for two decades But this year kind of you know the tail end of kobe. I guess you could say and amid covid. They were striking more deals than they had an in their history and this year in particular about four deals on average per week so so nearly every day so that to answer your question it was the sheer pace of deal making that got me so interested and the fact that these people that work at these firms have not really been written about they managed to deploy several billion dollars a year. Many many tens of billions of dollars a year and yet fly very much under the radar. So i thought there was a good opportunity to sort of discover who these people are and what they're interested in and how they manage to move so quickly despite being a really really really small team totally. Let's start with the people will go into like the pace but tigers not affirm that like some other attention grabbing. Vc firms They they aren't about big personalities. They're not about people you know they're not masayoshi said mark andriessen who of you know historically put themselves front and center who are these guys so the first led by this guy chase call men and his private equity unit. Co-founder scotch lifer. Who really calls the shots. When it comes venture capital deals he has the autonomy to make decisions and does and like i said. They've invested in over sixty companies in just a three or four month period. Twenty twenty one and then kind of reporting to him is this guy named john. Curtis who has only been tiger for about four years. And has you know led rounds and i think fifty or sixty companies in that timeframe many of which you would you would certainly have heard of data bricks and others that have generated a lot of headlines in the last few months and that is really the some of the team of people who have a lot of power firm who are calling the shots on deals there are others including other partners and analysts and data scientists who work in the private equity side. I think one of the biggest takeaways from me and something that really surprised me about this reporting was how small of a team it was and how somehow they're able to move like three or four times faster than a lot of the capital firms that we cover i think one of the most eye-opening examples in your story discovered a little bit of play when people tweeted about the piece It's not like tiger has an army of internal. They don't have an internal team that is like coaching startups on sort of what to do. They're like hiring bain consultants to do that. What is tigers edge is. It just is it. Money is a moving quickly. What has gotten in them into so many deals in. What makes them unique. yeah. I do think it's moving quickly. I do think that these partners that i mentioned of course have expertise that they that they do share. I would say generally and you just kind of hit on. This is that they don't spend a ton of time with their portfolio companies. I mean if you're a team of three or four or five people and you have a portfolio of say five hundred companies. You don't really have the ability to take board seats or to spend your evenings and weekends and afternoons on the phone with various ios in instead they spend a lot of their time pursuing new deals. I think edge is. They can write really big checks. They're very comfortable tie valuations. It's not something that trips them up like might a different more classical. Vc firm and they have a lot of expertise on navigating the public markets. If you're if you're pre ipo business looking for pre ipo round of capital you probably want to raise money from tiger Versus a traditional venture capital firm that focuses more on growing a business in say product market fit and go to market strategy. Those aren't really things that you're worried about your worried about. Who were my investors going to be a public company. And can i find investors. Now that might stick with me through my entire. Ipo process and actually several years beyond that po. They want those long-term holders k. That's what they always say exactly long-term and that's what they want. It's a that's the truth. And that is something that gives them an edge coupled with all these other things that we just talked talked about the last time that there was a venture capital firm or sort of generally like a private tech investing firm That was showing the spotlight or so in the news every day. And you mentioned the centerpiece. It was softbank the pace of deals that they had coming out of their one. Hundred billion dollar vision fund was insane and vc's kind of traditional vc's kind of derided softbank. You know kind of considered it dumb money. Sometimes they're returns been obviously quite good. Thanks to coupon an uber. And and some other bets but people. How do people feel about tiger. Are these guys super savvy of the super smart people skeptical of how faster investing when i started reporting on this. I did expect that. The investors that i spoke to who of course weren't affiliated tiger. I expected that they would not like tiger. I expected that they would. You know sort of insult them in the process and say they're stealing all of our deals. They don't care about valuation their irresponsible. They're just like softbank. And that's not what i found. I think a lot of investors do like working tiger and don't necessarily want to insult them because they mark up the value of their companies and not just not just not just more value but like they provide capital to companies that are very capital intensive. And who need to raise more money and who's investors may not want to be the ones writing them a five hundred million dollar check another five hundred billion dollar check like can do so. What i learned is that they have a lot of valuable relationships within venture capital. They really admire a lot of venture capitalists. I think there are you know. Of course i came across people who think they are way way way too. i guess. Insensitive toward valuations and our way too willing to pay up in such a way that is actually affecting the entire markets. And i think in a year or two or three will be able to see more clearly as we are now able to a- sopping sort of what. The impact of tigers increased pace. This year has been but for now. You can't really call them out and say oh you know you're you're being really responsible because it looks like on paper that they're doing an.
"bain consultants" Discussed on Capital Allocators
"Oh when he studied to be a rocket scientist before that our conversation covers marks path to ias and the principles of luck risk and uncertainty on that path we discussed the is portfolio when catered to achieve a low risk profile. And how we stayed the course when that structure hasn't been rewarded by markets. We talk about identifying managers that fit into his approach and different metrics of defining risk both the manager and portfolio levels. Please enjoy my conversation with Marc. Baumgartner park thanks for joining me. Pleasure be here. We always start talking about people's backgrounds. So why don't you just walk through kind of how you got to the CIO seat? It's a strange path. That's for sure. I grew up in Florida and watched a lot of rocket. Launches always close to Cape Canaveral and the space shuttle. I I remember drying pictures of the space shuttle. When I was thirteen fourteen years old I actually saw the first launch really need experience so always had that desire and so I pursued that in school I study aerospace engineering in Undergrad and then when I got out of Undergraduate Nineteen Ninety One. The country was in recession. And I said well you know. Why don't I just go for some more schooling and pursued graduate studies? The theme in my life has been luck. I think it was lucky that there was a recession in Nineteen ninety-one to push me to go get some more schooling. I went to Princeton Graduate School and at Princeton it was a very very different experience than Undergrad. Undergrad at University of Florida. And I always like an. I said when I was at Florida I had a calculator in my hand and I was always solving problems at Princeton through the calculator out in exchange for a piece of chalk and we did a lot of theory there and the other thing that Princeton had was it had a school political science and I had a great adviser there who encouraged me to branch out and so I took classes in the polly side department. They are got a minor in public policy and that shifted me off of Engineering and aerospace to public policy and application of quantitative methods to areas. That were more qualitative. More sociology psychology oriented and folks in qualitative disciplines are faced with no less uncertainty then folks in engineering disciplines. Perhaps some more uncertainty anti. That's where I found my home. It was a departure from engineering. But I enjoy that. Blend of addressing uncertainty quantitatively and qualitatively. What was the first step? Fu Academia so it was into management consulting. Yeah I was fortunate to find someone who's actually been a mentor to me my whole career. Hamilton Helmer so Hamilton was a a Bain consultant. Actually worked with Bill Bain in the early days and I had moved out to the West Coast. Start his practice there in Silicon Valley doing strategy work for firms on the West Coast and he saw some kind of potential in me and hired a kid. I always joke. I said when Hamilton hired me I didn't know the difference between revenue and profit just money but how Alton saw some potential there and brought me out to join his strategy firm and I learned about business in strategy with Bain level partner working closely with them. Incredibly luck incredibly. And how long did you stay? I was there for three years and we had fantastic case where this was silicon valley in the late nineties. So just amazing right if I knew then what I know now. I probably should have stayed there and should have been involved somehow in the venture industry. There was so much fun to. What do you know now that you didn't then how to create companies and all of the value creation potential that exists in that area? And how it's done right. I was a kid Twenty years ago now but I enjoyed consulting a lot and I said this has been so great here one. I take a look at one of the branded shops and I ended up going to. Abc G. Three years later and spent four years there being a generalist and just looking at all sorts of different industries airlines health care energy. Just a lot of fun consulting was wonderful and along the way I started to learn a little bit more about investing and seeing how value creation was rewarded by the markets and I ended up after four years. Going back to join Halston at his firm strategy capital this is in the early two thousands. We had a long. Short Equity Hedge Fund. The memory for me is being in the boardroom. At Net flicks before net flicks was Netflix. It was really so early. They had a red envelope company and having that experience and seeing that company being built from the inside and being able to interact with management. Was I opening for me? What was it like? In those years sitting inside a hedge fund very very different it didn't feel institutionalized at that point felt like I wasn't even a Hedge Fund. It was just an investment firm. And we were doing what we did. As Strategy Consultants which was to look at industries and look at companies and pick winners and losers is pretty clear to us that at some point net flicks was going to if not kill blockbuster seriously hurt blockbuster. So right there. You see a nice pair trade. And it wasn't clear at that point was Amazon. Had Not even entered. The business yet was were threatening to enter if I don't know if you remember they actually had a DVD delivery system before they were streaming and it was reed hastings who had the vision to stream content which you could see things converging. It's reality today but back in two thousand three you know it was pretty tough to see where broadband had to go and obviously mobile devices have changed all that as well. It was not as institutionalize. We were just picking winners and losers. And how long did you say so? That was a year and the story there is. We had a market neutral fund that had equity volatility and so no one was really ready for the downs. Came along with some of the ups so we shut that down and I went to work at another hedge. Fund called quantum L- A quantitative market neutral fund which one of the other partners had strategy capital was also the chairman of that and brought me over to be a PM and and help them grow that business very very different strategy then strategy capital was fundamental equity and quantum was stat. I really got my risk degree there. Quantum was first and foremost a risk management firm. So it was sort of a better barra was headed by the former head of finance at Stanford Paul Flutter and Terri Marsh. Who was former head of finance at Berkeley Great DNA? They're great finance knowledge there and so that was the risk model in the hedge fund was built around that which was really interesting. That was for me that fit right. This idea of uncertainty management which I had through my studies of turbulence in my PhD program and then business uncertainty in management through management consulting experience and now hedge funds and so it's always been about managing those uncertainties and the Stat Arb- shop. Cuanto gave me some more insight into how portfolios could be managed in a very risk risk controlled way. That's what you WANNA. You WANNA take risk. You don't want to avoid risk. Howard marks the risk avoidance strategies or return avoidance strategy. But you want to manage those risks. So that's been key for me in my learning about hedge funds and then how I manage hung portfolios after she. You have a setup where you've got two leading finance profs in the early years of Quantitative Hedge Fund investing but we don't really know about quantum today. Yeah so what happened. Cuanto is about the same as they were. Call it about a five hundred million dollar hedge fund not small not large but to grow you need to change and so we were already turning that portfolio over about seven times a year it happened to be a higher frequency trading back then was high frequency today. It's not very high frequency but we noticed that as we grew we had more slippage in the portfolio we're impacting markets and so was decreasing and so the happy medium was. They had kind of maxed out their size. I think there are a lot of funds like that. And you can make that trade off as a fund. Sometimes can I grow and still give the returns that I've had the pastor towards the next step after there so the next step was Morgan Stanley? I was fortunate again in the spirit of luck to find someone who actually understood my background. Jack Coats who was the CIO? At Morgan Stanley's Alternative Investment Partners Group in West Contract Jack was the CIO at warehouses and had come over with that. Lift out to Morgan Stanley. And he had an aerospace engineering background. Believe it or not and so I came to join him and help him build that business. It was the early stages of the O- cio expansion and so we were looking to help institutional clients do what Jack had done at Weyerhaeuser. Which was incredible. Jack started at the warehouse or Pension Fund in one thousand nine hundred five the same year. That Dave Swinson started at Yale to totally totally different strategies though where houser was a synthetic sixty forty portfolio using derivatives. Right in a pension plan. Mind you in one thousand nine hundred five so synthetic exposure plus Alpha from hedge funds and all sorts of inefficiencies that exist in the financial markets. Back in the day and it was highly risk. Control risk managed quantitative what you might think of an aerospace engineer. Putting in place at pension plan in Nineteen eighty-five and fast forward twenty years that portfolio which was levered two to one and used alternative investments which in the eighties nineties or something inconceivably risky to that portfolio outperformed. Yale on a an absolute Anna risk adjusted basis. But yet jack was very in the background you know. Jack was not recognized sort of unconventional but almost two unconventional a cowboy. Taking risk and sure succeeding. But that's the problem with being different in the world. The worst thing is to be different in failed but the next thing is to be different in succeed because then you are a cowboy risk. You're just lucky. But that's a story of how you can be different and that portfolio weathered the crash in eighty seven. It weathered the Mexican peso crisis whether long term capital management whether the DOT com boom and bust. But it's not widely adopted. There are few foundations out there that have that type of portfolio talk a little more about what that portfolio was in. Wyatt provided the ballast. That it did. It was just a collection of risks. But it was very very different so I think the origin of that portfolio as Jack said. Why would we want a seventy thirty or sixty forty equity fixed income mix because we're not going to get the type of returns that we could from having hedge funds or having other types of alternative investments in the portfolio? We don't need to take systematic risk or getting paid for it. But we're not getting paid as much as we could for idiosyncratic risk and was so they did that for a couple of years and the board I think at warehouses kind of gulped. But they said well you know Jack is really smart. Let's just go ahead with it so fast. Forward a couple years and possibly through the eighty seven crisis. I'm not sure. But the performance of that portfolio as you can imagine very very different than performance of a sixty forty. What did that portfolio look like? Call it a collection of Alpha generating managers portfolio largely on correlated with the market.
"bain consultants" Discussed on Beautiful You
"The family could food And it was hard in just because of the few people that really makes me around. A lot of money is also very disappointing uh-huh had to get by when you are starting a business I think for me as the website was a huge challenge time John was a huge challenge. you give yourself a deadline and then you know you've got to kind of stick to it and having a young family as in the actual isn't amazing by sniper instilling You get any moms. That have businesses will nigh It's not easy and you get all the time but having my family and friends around me to support me and just decide that they neither can do not to get cards in the mail. You you know just little miss Some support when you've had too bad diane remember has the coming home from work everyday and I used to. I moved out of my office because I felt taking. She Bat. Not Being my son in the family airs move by Lepto cats Di Tella just tap away while he was in his little pipe and he was happy as Larry but I felt better doing that. Maslin would walk home every afternoon wouldn't Hawaiian walking Human dispersed to taste another bed dialogue along like It was just really challenging Again not having the right people on board of stance but you know it's keeping may excuses landside match and I've growing sign match and now I know more of the right questions to ask I know what to delegate and what not to delegate. I've got a couple of people waking me now. which is amazing? But it's teiken unite that all that time to get papal sorry on rock. The paper would what processes have you. Have you found been successful identifying that. That's the right person for your your support group. Just a lot of questioning almost interviewing noise paypal as if you are. I like anything you know. I used to work in recruitment into people the Tom for jobs and place and was quite successful successful. Recruitment consultant in. It's the same thing fearing pieces you have to obviously interview days paypal and find any and it's especially as at the tunnels on my my on. It was hot Someone actually not really working out. He couldn't just get someone else to tell them. He had developed a personal relationship with them. It was really difficult throat are. I'm really fortunate to have you on the on the grand paypal. Is I mom and dad where he might be just answers my husband which is advising second. Tell them what to do. Any they're not going to set claiming the Absolutely not when they got hold is unlike eating. Put you lay foams and Mrs terrible definitely secondary's guys But it's just Spain talking to a lot of different paypal not a Difficult Votes There's lots of groups on facebook that has With you recommend the papal and I find for me personally I I found a lot of people that disappearing their friends and I don't really understand your business or what you're asked are all whether it's simplistically Nabisco Lisa designed just GonNa tag they trained in it and then you could spend all that time China throwing so I think more if you can join some I'm kind of networking group or something. That can really enough to integrate one in our jay which is only painter acids federally she. But just three that you get to know. The people people really Values next season. They're doing Without really even have to talk about engaging citizens than if you get a good feeling everything else in Tokyo thanks Afi But yeah I find those other groups or anytime outside of issues. People say I've got a friend could be your website and I'm not uh on a very much. I really appreciate it but you know we talk about cost an on the go. That's ridiculous Cobb Lady Pie Right now. I can do it for this much. Roi Thank you very much you just. Yeah there's a lot more in bowls in just a simple web saw I'm learning and writing assignments. It's just such a huge. It's like building a house. Isn't it things to fit together on my days when you were just ready to give up or drop you bundle. What what did you do? I I think just because I'm really driven in regards to what was was trying to achieve And that is set to might laugh easy for paypal and a good food. I knew that was my vision. I just wanted to the APP to succeed in doing that. you know come to me. All you know is waiting till the stretchable. The Hot God. I can not sit up just you know. Even now when people say he making any money But it was really join I and I just as I said Mary books will get from customers. You know reviews on my social media. Decide how much simplest what I'm doing is changing their loss in the united they're having Ma Liming everybody else for having metabolite satellite and everyone's winding Hippie way just always comments kate me going all we know before launch and I was just rescued developing a lot and my friends would come Additions only says the best she can catch a Tory. We've had and just things to keep me going on the right track doc and just stepped into drive at story. I think if you're not passionate about your business then you might not succeed. You've really gotTa have passion. Mr I can really hear that you very clear on your y. You know what what's driving you to do this. You love feeding families good food and how beautiful beautiful that something as simple as this is is actually transforming families lives and that to me I think will really so you know you look at it. All people are obviously really impacted because sometimes at Dana Tom when a couple of kids screaming running around and someone's hung from white light Anyone personally today set Lincoln Someone doesn't do the dishes all the rest of it. We've made says many dishes as it is. It's it's pretty easy to clean out. an older foods and way ports. Everything Aso Inam Mate for example if the chickens this weekend to send me to keep this already cut up William backing king suit so you don't have to worry about shopping or anything you know the actual practice really really simple so it's literally throwing it all in and buying up a sip away and then help help you know whether you've got kids have not just keep ambulances that love and get a full Full pay placentia for people decide. Scranton have a wakeup Kafr phrase lifestyles and then we have the next continental. Get your box again you know. It's just next luckily for them. Yeah you've really you've really early Cretaceous something. That's supporting such a nation. I think will there are so many families around. How awesome that? You're getting them out of the cubs onto the benches and I am paper using the variety I'm talking about a lot of people who in my consultant desert site. Online misleading. The box in the cupboard and because I use a lot of recipes using the Barack Obama Oh my God my farmers have had so much. You know. Use the four. Sorry it's really good Emma. You know you talked about your passion like knowing you're finding your passion and being very clear on that. How do you think you you found your passion you know? What did you do to really drill down to nine? That is that is it for me. you know. I've voiced painting to health and fitness Ten twelve years ago I was very much That fed that was going around. That was Lloyd Fat. Everything in life that milken enjoy Die This dot that an I read a book about ten years ago. I called additive. Alert didn't have kids obviously was was married. And things rentable console round. Had No idea that this Things were enough food and just it wasn't like an IV not mate was is a slowly progressive prochet couple of just slowly changing things. I had a few healthy shoes but some of you know I was very active in feet in but didn't always vice field events and no doubt it would mean what I was eating because when if you had a high tonight can catch by John from that. She can catch tourist the jaws. And that's how you Mike Chicken So just as decided us just slowly transforming how I was aging and then mankind. Another kind of Consultant you know. I had no intentions of Bain consultant ahead a fulltime job I didn't need to go away the extra cash but I really felt. It was my duty in which acknowledged good consultant. Hollywood Bang petrified didn't really finding a neighbor one China adopted outside passionate Image A. He these because on done little Revich Baden and nats a lot more mainstream as a lot more in Mike Schmidt they Seven or eight years ago Cablecom head-to-heads knows talking half the time about sitting things. What was the next sued And you know I probably only converted. Maybe half eyesight had actually really looked at what was actually the important then Except Pack Kikes. That's good Really be on that Bandwagon Armie for those last few years. And it's just slightly progressing distinct Makes people still you know whether it serves uh-huh providing it'll noodles for example out of the ten search box in the Asian souls as any tree that have got just three ingredients which have fallen for you the risk full of emulsifiers most five. And you know different stuff and I just think if I can provide them with the gooding grades excellent they rhine because look at halftime onto the backs of packet. So we don't really show what to do. You know where to find the ingredients safe. They go bad for them so assisted. It's just been a real passionate Educate people The last fees. That's that's just really powerful so not not only. Are you providing them food but you can guarantee the food that you're providing is free of older guys nasties because it's our passionate so yet I'm still learning what they should buy and what they should use. So you're getting a lot of value to people's lives here and we also have a naturopathic a wick weeds and she's fantastic so even just h month. We've just provides me my sheets on the Vegetable of the month for example to and why should we have different ways of cooking and just Papers coming home cooking at the box. United taking tonto onto down with a cup rating as to why Kylie For them and had.
"bain consultants" Discussed on African Tech Roundup
"Gonna being you're you're sort of top leads in south africa looking really interesting to you set out to me five so first thing is a about myself i'm not really a being countered type ceo i'm not good with numbers and spreadsheets and all that guy that just like dude customer support all day talking to people like i'll be a guy getting customers sport i talked to people in one guy from nigeria hits me up as a gallon of by and i phone acts like okay ever faced for bitcoin is again but i wanna i phone but i can't buy with my visa card because you said the limited averages nigerians to one hundred dollars a month taking spent online with their visa mastercard you got the limit moved to a thousand but he's still wasn't enough to buy and i phone next so i figured out a way for him to actually using ali pay account sellers bitcoin some dion china you center mahogany eleven hundred dollars with valley pay day buckeye phone apps from the express right so i like solving problems that's kind of guy on these numbers don't really mean too much to me because they really don't mean much at all because just getting started peer to peer finace right what this ashley is it's about a lot more than just buying and selling bitcoin it's a framer there were giving people do anything they want with their money like are slogans your money your way no borders no school safety right so the numbers don't really mean too much to me it's all about the people like look at nigeria right so i went to nigeria it's an amazing place that some of the most entrepreneurial source of people i think i've ever met in my life nigerians are mazing right they will find a way to do something right and there's a huge unemployment problem over there right you there's so many young people there so much unemployment and that's something we see all throughout africa so basically i spent a good portion of my time as a ceo doing business development in customer support online talking to people from nigeria talking to students figure out all the limitations of obstacles there and i see like sitting down showing people how to trade bitcoin investing in them and i didn't think anything of it then i look back in like three months later this market has exploded right the nigerian people just took that little little league don't like three months of my time they just ran with it and discredit something amazing and i'm looking around like while they go after his amazing like they're capable of doing this why did this happen before it didn't happen before because they do not have an open and say financial system when you look at africa it's really a miracle that africans on extinct considering how closed in and how a oppressive the financial system is over here in new york city right now is in a cab and this one cabdriver from senegal he's like she had a phd this guy he started telling me that senegal ivory coast unify malley alley and a think one other country they're all boarding each other they all have the frank these the frank reich and they don't even print the frank in those countries they have it printed them in paris they charge a fee they send it over there and even limit the amount of frank acsi by each year and they to even make matters worse you choose a different version of the frankly we can't even trade amongst each other think about that the level of balkanization and financial press and the africans have had to deal with the past four hundred years here's now we actually have a way to give people a way out lincoln actually reach out and actors every single financial network in the world that is the greatest opportunity the twentyfirst century and africa's poised to be on any other like emerging market economy take full full advantage of that so i'll bites i'll bites i i buy into what you're saying here and let's assume for a second that you know and there's a massive sort of generalization to make given what i know the realities on the ground in most in many african countries 'em assume you know the central bank governor in country x on the continent is ridi rini rini concerned to solve the issues that you just outlined really articulating please give that person some guidelines on how to view or treats the growing trend towards the use of crypto in general and of course peer to peer trades as you guys are enabling it right now and by the way shutout to shelve i love good friend of the show he she had some questions with me that he wanted me to ask you and the reason i asked him is because it's thanks to me that he's now a you know the notion of sort of block chain tech and distributed ledger technology and crypto those notions of starting to grow and him and he's a very conservative invest a former bain consultant at cetera so he does not sort of pivot very easily from from certain values he has so shout out to you a refill and that's definitely a question you asked me to ask you which is shift some insight twists twist wellmeaning high integrity individual who's currently running a central bank in any one of the country's you mentioned something else on the continent paps and one of the bigger markets growth markets on the continent how how should i think about crypto and and and distributed ledger technology even more so how should i think about this trend towards peer to peer trade well it's good to be cautious it's good to be skeptical especially in africa skepticism is good it keeps us alive especially in this place that's right the scams so let's get let's zoom out for a minute and a we're the three eliza we're currently age of compliance right so be american s e c u s house finance committee is we've talked all these people right and we've actually come to them first right and they really appreciate that because the only time they ever hear about crypto currencies when someone get scammed price especially the whole i feel bubbly way all these scams came in and that was the first impression of crypto currency and all these regulators all around the world are playing catch up you try to understand what is this how do we regulate this how do we protect people right so africa should not feel left behind everyone else is just getting started now here's an amazing opportunity africa ashley has the potential to leave all these regulators right and you don't have to you know put out some huge over arching regulation right you know how to do that all you have to do is extend the transparency that bitcoin blockchain technologies have created this bitcoin is completely transparent it's totally public it's just anonymous right every single transaction anyone can see on the boxing as long as you know who controls he addressed it becomes completely transparent circulatory system of the world economy right if you think about that that's kind of a central bankers wet dream right this total complete transparency so just extend that transparency out right so this peer to peer find those things happening people are beginning to realize they could trade anything they want using bitcoin is universal clearing later right that pattern returns only gonna grow especially in africa to central banks do what governments do the k let's put out a pure pure license if this guy here wants to sell and trade bitcoins guy universities and get you know building a business out of it cool but i'm like let's gives him a license let him register with the us let him tell everyone pays taxes and let's make it like let's let's legitimize it says regulate this it's worked out beautifully in japan and korea why couldn't work out here in africa africa did that it would leave the space and would bring back the focus on what this is all about which is peer to peer find that so i courage people to a look at peer to peer finest in a positive way and if we really put more focus there it'll move more africans away from the mining scams and speculation the multi level marketing which is still wrecking havoc on people over here so it's all about trends education and transparency so let's talk about an optical that's trending within policy circles around the world not just see on the continent it's an article put out by the mit technology review by mike all cuts 'em it's called once hailed as on heckle blockchain's now getting hacked and the sub hitting is even more disturbing which reads needs more and more security holder appearing in crypto currency and smart contract platforms and some fundamental to the way they were built so this is definitely a an article i recommend everyone breeding ends i have the have simon dingle on the show ten packet because he he takes exception to some of these some of these assertions made in this article i do get the sense that it's hard to argue now that you know again back to the trust thing back to the legitimate reasons why the reserve bank driving a policymaker wellmeaning sort of super integris individual anyway on the well never mind you know including on the african continent might be concerned about how well equipped platforms like your exchanges perhaps there's a growing trend seeing you know to to vulnerabilities emerging in these spaces and of course if they're human beings behind the have to be an i know the fundamentals of the blockchain sound but how do we settled in a world that's starting to to worry that they might be inheritance infrastructural vulnerability t in system with building a new jersey's folks are calling twitter is raise we tweeted by guy named oriole rubini which is a professor in stern school of business and he's and he's a massive bitcoin hater right oh yeah this but we have actually we talked quite a bit you know people were just attacking this guy nonstop in the beginning like hold on a second this is not a dumb guy this is a really really smart guy i know he's hitting hard here but let's stop for a minute and let's look at his perspective as well educated we were honest people everyone's perspective should be interesting especially if people don't know find that so well so he makes a lot of good points actually and he was asked to write about what happened in two thousand seventeen with seo scams excetera why not add the truth is that smart contracts contracts are inherently flawed as security model your bisky putting the programming language into this boxing and wants to give people the ability to write any code they want to write anything can happen and we saw that with the dow aka and if you make cetera so let's assume for a moment at all these new smart contract platforms are risky and they are and that's absolutely true let's assume everything in articles true okay fine we still have basically right we still have this universal blocks in right the doctors clearing later for the people and it doesn't have a turning complete smart contracts language and that's by design dot com.
"bain consultants" Discussed on Today in Focus
"So we met Dr immer Sutherland who's one of the senior doctors any department. I can clearly remember when I started the first time we went over three hundred people arriving in the day. And we were so shocked at the volume reasonably recent times have gone having an average of three to four hundred patients turning up day, though, not long ago at their all time record of four hundred ninety patients arrive in one day, that's an awful lot of patients just in just through any just any. She was telling us how more and more people arriving needs to be admitted therefore the Nita hostile bed. The need inpatient care. What sorts of cases does Dr Sutherland say in house not change since she's been at the hospital. So Dr sylvan's Bain consultant any doctor at king's for fourteen years. There's a joke that A N E stands for always and everything, but we do and up with people who are dropped off at the door having been stopped through the heart because of the location of King's College hospital, we fly people in by helicopter who've been in a lorry crashed on on the Kent coast. We have people who caseload that. Colleagues are seeing has changed significantly in the last few years in some ways, actually, the number of people who come through the door isn't the issue because we can have five hundred people come through the door. If they've got minor illnesses or sports injuries. We'll get them all home. What tends to be more difficult day for us can be three hundred and eighty but with lots of people who might be frail older people lots of people who've got lots of medical conditions, so more complex issues are nearly always older people who have four five six things wrong with them all the same time. Typically, a problem with the breathing. Probably rent history of smoking heart problems on Jonah arrhythmia, all sorts of things. I got the early signs of dementia, perhaps depression, which very often related to having one more condition. People become depressed could be cancer career recurring infection, some sort like a UT I yearn retract infection and very often it could be diabetes. How big of a problem is diabetes for the NHS. Ws takes up about ten percent of the Anna chess budget more than ten billion pounds a year. There are more than four million people in the UK diagnosed with diabetes and s between half million in more people going around with undiagnosed diabetes can make site much much worse than very often. Does it can affect your liver function defects, many many parts of your body, including your vital organs, and this people with type one diabetes, but increasing numbers type two ninety percent of the people of the former employee's diagnosed ibex Britain have type two diabetes, which is very closely associated with luby's state. Tell us about the diabetes department at king's. So the diabetes department aat kings is one of their busiest departments. It's one of the regional centers of accents. Oh. Rwandan to the diabetic foot clinic at king's the thing that first struck us was this. We heard a sewing son, the of what cited like a soul being used. And I knew that diabetes leads to I'm battalions of body parts. But usually I thought that happens in an operating theatre it turns out that that is they're actually to help remove the cast that is put on the legs allure limbs of people. So as you came around the cone expecting expect seasonings if I was expecting to see a scene of something bergey on horror, but attorney I actually it was very routine thing going on they were just taking law. Plastic Haas's if someone had broken broken, so one of the many other medical problems that diabetes causes is what they call diabetic neuropathy nerve damage which can affect any part of your body, particularly your your lower limbs. And that's why we end up with more than one hundred people a week in the NFL having a finger a Atto afoot away. Leg. Did you meet in the foot clinic? Clinic, we met the die Bitola gist in jars Dr crash bass at the advanced age of diabetes. It's about saving a life saving limb keeping people alive longer. So severe example, the diabetic foot cost problems for diabetics cost Hannah chests over billion a year, he chose just that over billion pounds year billion over billions year, he said just for that blinding. Liming? Diagnosed with diabetes type two diabetes about chain twelve years ago. We were lucky some one of the patients was very very happy to talk to us. Call Tony Martin on a director of insurance brokers. Landon quake chick social life seventy year old gentleman pay friendly unvarying kind of jovial positive upbeat. Probably drank too much at times and probably should've taken the condition. Much more seriously much early twenty miles actually like a lot of diabetics I've met including diabetics in my family people who didn't realize there were leading an unhealthy lifestyle. But the where. Well, they when I wanted they bring people first nosey into these clinic and see the results of what it can do. But it I think it should be on the level of smoke. And Secondly, he was very keen that he was talking about how not that long ago. The government of the day would run lots of very high profile in your face, graphic companies against smoking warning us, all smoking will do all these terrible things. Go nate. I totally agree with them if h s just put money into diet programs for people couldn't they save billions in the treatments for things like diabetes, actually under the plan. We'll ready. No. It was announced. Racially is going to include plans to majorly expand the diabetes prevention program to bring in programs where doctors will prescribe eight hundred calorie diets for many many weeks enter try and because there's growing evidence worldwide that adopting sort of a fairly extreme diet for. Only even if you months can reverse diabetes.
"bain consultants" Discussed on Talk 650 KSTE
"And people think okay. How much of the Armstrong and Getty show tomorrow morning. Six to ten on talk. Six fifty K S T E liked to stop ISIS. Kufra? The Chad Benson show. Google Facebook Twitter, the reach they have is. So massive you have an all powerful all mighty group that is just cuddled up with the Democrats. They're completely left lead. They know their by and you have some arbitrary people deciding what is there is it something that people should or should be seeing. And then they're banning them all the while saying. It's the Chad Benson show. Weekdays at ten talk. Six fifty J S T E. This is a Bloomberg market minute. Investors seized on reports of progress in trade talks with China stocks are higher. Now. The Dow Jones industrials up one hundred forty six points or six tenths percent. Twenty five thousand to twenty six the NASDAQ is up one hundred two points. One point four percent. The S and P five hundred is up twenty one point three quarters of a percent, even after a small uptick, the number of workers joining the unemployment lines remains at a level that indicates a tight job market two hundred sixteen thousand first time claims were filed last week two thousand more than the prior week, another key supplier of components to apple has lowered its revenue estimates the new outlook from AMS of Austria increased investors concerns about I phone demand. AMS makes light sensors for smartphones makers of luxury goods will remain dependent on Chinese consumers for years to come before cast from Bain consultant. NC says China will account for nearly half of all high end sales by twenty twenty-five. Jeff Bellinger, Bloomberg radio. Talk. Six fifty K S T E. Driving liberals crazy. Three hours a day every day. The Sean.
"bain consultants" Discussed on NPR News Now
"Live from NPR news in Washington. I'm Jack Speer, secretary of state. Mike palm peyot says he is hopeful. Kim Jong Hoon is prepared to take bold steps to denuclearize, and he says, President Trump is fully prepared for next week. Summit is NPR's Michele Keleman reports, secretary pump AO says, even when he was CIA director. He spoke often with Trump about North Korea, and he says, he's confident that the president is ready to meet Kim Jong UN as for the North Korean leader. Pompeo has met him twice already has indicated to me personally that he is prepared to denuclearize. And in Pompeo's words, the North Korean leader knows that this has to be big and bold. He says, President Trump will not stand for a bad deal. This secretary plans to travel to South Korea, China and Japan after the summit to coordinate with them, Michelle Kellerman NPR news, the State Department with moderate House Republicans threatening to force a vote on immigration. This month house speaker, Paul Ryan met with GOP leaders this morning to try to find a compromise and avert a public showdown. But as NPR's, Scott detro- reports from the capital Republicans are still stuck in the same immigration gridlock. They faced all year. Moderate Republicans are just shy of the number of signatories. They need to force an immigration vote on the house floor. Later this month, they're using a rare parliamentary move called the discharge petition to get a permanent fix for the deferred action for childhood arrivals program house speaker. Paul Ryan is warning his members against forcing the vote, a discharge petition will not make law. So I think our members realize it's better to have a process that has a chance of going into law than not. But Ryan is backing President Trump's plan to fix DACA while also making permanent changes to the legal immigration system. That proposal fell far short of passing when it came up for a Senate vote earlier this year, Scott detro- NPR news the capitol for Mesa, Arizona police officers on administrative leave after being caught on. Video beating a suspect police body Cam footage shows officers punching Thirty-three-year-old Robert Johnson multiple times as they arrested him late last month, a news conference today, pastor Andrew Miller dismissed the officers explanation. They're telling him to sit down as they're striking him. How can I sit down when you're striking me? The officers, say Johnson refused orders to sit. But Johnson was against a wall outnumbered and unarmed. Police, say officers are responding to a call from a woman who said her ex boyfriend was trying to break into her apartment police found the former boyfriend along with Johnson who says he was simply helping a neighbor German pharmaceutical giant. Bear a g. says, it's now completed. It's sixty three billion dollar acquisition of US seat and weed killer company. Monsanto Bayer says under the terms of the agreement, it will be the sole owner of the company with Monsanto shares, no longer trading on the new York Stock Exchange, a mixed close on Wall Street. Today, the Dow is up ninety five points to twenty five thousand to forty one. The NASDAQ closed down fifty, four points. You're listening to NPR. The US has announced it's sending emergency aid along with financial resources to help meet the needs of those affected by the volcano in Guatemala. The eruption of that country's volcano of fire has now claimed at least one hundred nine lives nearly double that number remain missing. The volcano began erupting last week covering some small villages with ashen debris up to the rooftops of homes, the centers for disease control and prevention as found that suicide rates have increased nearly every state over the past two decades NPR's Nell greenfieldboyce has the story every year tens of thousands of Americans killed themselves. That's why CDC researchers did a comprehensive analysis of suicides from nineteen ninety nine to twenty sixteen half the states saw suicide rates go up more than thirty percent. The increase was greatest in the central northern region of the United States, North Dakota, for example. So a fifty, seven point, six percent increase name. Wide, almost half of the people who killed themselves used guns and more than half of all suicides involved. People who are not known to have a mental health problem before their deaths Nell. Greenfieldboyce, NPR news when it comes to luxury goods. It appears consumers are opting more for the casual rather than the flashy, a new study by Bain consultants. He finds what's known as casual luxury is driving sales of everything from footwear to handbags. Bain says that sector of the luxury goods market is set to grow this year to around three hundred twenty nine billion dollars to sewing some of the biggest growth in terms of interesting casual buttery goods with a twenty to twenty five percent increase in the market. I'm Jack Speer NPR news.
"bain consultants" Discussed on Wall Street Oasis
"Hello i'm alex guard nick you're listening to the wall street awareness podcast today a bain consultant turn podcast her we've got a great conversation with pete from the how to be awesome at your job podcast now i know that name doesn't really tell you anything about what is podcast covers so i guess you're going to have to listen to the episode to find out we don't talk about consulting enough on this podcast today pete makes it sound very cool just a reminder whilst you know acis has a management consulting interview course that will prepare you for those killer interview questions check it out and now without further ado pete welcome to the podcast alex thank you it's so fun to be here yes so you also have a podcast it's called how to be awesome at your job and so we are going to go deep into the actionable insights that you've taken away from having almost three hundred episodes congratulations of talking with brilliant leaders on how to be awesome at your job oh thank you well i i love excellent site so this should be fun yeah but before we do that we have to touch on the beginning you started off your career at bain i'd love to hear about that oh sure yes you know it's interesting i was i was a weird kid in college if day one i was determined inbound to go to a top strategy consulting firm i remember as even a little bit of.