35 Burst results for "Co-Ceo"
"co ceo" Discussed on Masters of Scale with Reid Hoffman
"I'm bob sathian. I'm here with heather. Hasn't co founder and co ceo of figs the purveyor of stylish and comfortable scrubs and other medical apparel for healthcare workers. Heather's coming to us from the figs offices in los angeles. As i asked my questions from my home in brooklyn new york heather. Thanks for joining us. Thaad thank you so much for having me really appreciate it so over the past year as covid nineteen has washed across the world. We've seen a renewed appreciation for doctors. Nurses other healthcare workers who find themselves on the front lines. Figs came into being to serve that community. Well before that back in two thousand thirteen. You're inspired by a friend. Who is a nurse to create scrubs. That were better fitting and better looking. But you're not healthcare worker. If i'm correct. What made you focus on this group and their needs. But i actually was in pre med. If that counts for anything like a little bit of credit so but to answer your question about why focus in two thousand thirteen on healthcare professionals. I'm just gonna take you back to how this company started. So i was having coffee with a friend of mine nurse practitioner and she was wearing these big boxy scrubs with the size on the back of her neck and it was bright orange literally like size right and i was just thinking. How is it still possible. That people are still wearing these types of scrubs. And then i said why do you think the entire world is focused on the athlete or the weekend warrior. The nikes lula men's all the multi billion dollar companies are focused on the athlete which is ethics are amazing. And i'm so respectful of the. I didn't understand why nobody focused on millions of people who save lives every single day. Didn't get that. And i even asked her. I said how come nobody's focused on you. Where's your technical product so you can go to work. And she's like this what we have. So i literally said i said i'm probably one of the best shoppers in the world and i will find something and she's like okay says you sent me to his store in westwood boulevard and i walked into the store and never forget this. There were literally bedpans on the wall. There boxes all the scripts were squished together. And the store closed at five o'clock. And i'm thinking okay. Rt's walk in here. Dentists np's neurologist oncologists the whole gamut of healthcare professionals. And i was like okay. Everybody has masters degrees are walking in this depressing experience and closed up five. What is this. And i go back to. It was like. I'm gonna make the best product possible for you and that's kind of when the light bulb went off. We wanted one make the most exceptional product for the most exceptional people in the world and to let's get them product so they can order it a to clock in the morning. Three o'clock in the morning so they can have the uniform next day. What were you doing at that time. You had been med. You were a designer. So i didn't do very well in pre i respect people who actually go through it in the beginning. No making these scrubs were a lot of fun. A change the silhouettes. I was in a hospital for about at least a year watching every movement watching how they drink coffee. I was in the cafeteria of hospitals. Right i watched every single movement on how they use their cell phones. Were they put things where they put their ipods where they put their rings. And that's how i designs can about your business was blossoming before twenty. Twenty revenue reportedly over one hundred million dollars annually. But like everyone else. I suspect your plans were disrupted by the pandemic. How did that transition emerged for your business and for you personally. Yeah so last. Bring the world really changed so i was hearing a little bit about it but then on march twelve everything closed in los angeles and it was a real shock. I would say to the world and immediately i thought oh my god. What does this mean for us. What does mean for figs. And then i started to get a lot of phone calls from a lot of my healthcare professionals for all my friends right but call me text me. Hey heather do you have extra. Ppe you have any masks. Do you have any gowns. you have anything i'm thinking. Oh my god we don't how do we not have this and we're prepared for everything we really are except obviously we didn't have masks in isolation gowns and ppe. I thought we have to protect our people. We have to get them the proper gear and we up all hours of the night trying to shift our supply chain and make isolation gowns make masks and hospitals. They weren't giving out the pp's said we have to distribute these two are healthcare professionals. What do we do so we put them online and we're just giving them for free so they would just add to cart and then it would have mask and they were so thankful. of course. We all have masks now today but at the time they did not have proper protection and they would just carry one in a plastic bag like it was gold. It was because that's all they had but it was unfathomable for me to think that the people that we support had to face cove it had on with no protection. So yeah we really shifted emotional for our team for our community. And i think we got it together. We give him kim. Ninety five masks actually has met suits. We donated over seventy thousand units a fig so jackets lab coats isolation gowns so you donated thousands of gowns and scrubs and masks to medical institutions. You partnered with an initiative to help hospital serving hard hit black communities. You don't need one hundred thousand dollars to the frontline responder fund. How did you decide what to do how much to do. So that's when i call my business partner. And i say hey. Trina we're going to do all.
"co ceo" Discussed on Masters of Scale with Reid Hoffman
"The so last spring the world really changed and immediately. I thought oh my god. What does this mean for us. What does it mean for figs. And i started to get a lot of phone calls from a lot of my healthcare professionals. All my friends but call me text me. Hey heather do you have extra. Do you have any masks. Have any gowns. you have anything. I'm thinking oh my god. How do we not have this. So we really shifted. We gave them ninety. Five sexually actually has met suits. We donated over seventy thousand units of fig so jackets lab coats isolation gowns. There is no limit on this because this company doesn't exist without healthcare professionals. We won't have a business if we don't have healthcare professionals. And there's no amount of money that was too much to donate amount of isolation. That was too much. We did what we could afford. We did what was right. And we're going to keep giving we're going to keep giving them everything we possibly can so they are always protected and always celebrating. Always feel empowered. that's heather hasson co founder and co ceo figs and emerging lifestyle brand for medical professionals. That built its name around. Premium scrubs in twenty twenty revenue climbed past two hundred and fifty million dollars but the company also leaned into giving gear away to support frontline workers in need bob saffy and former editor 's company founder of the flux group and host of massive scale rapid response. I wanted to talk to heather. Because many startups struggled to handle key inflection points at figs amid both rising demand and rising attention this year. heather in co-ceo trina spear used the moment to reinforce their relationship with their customers. Hassen identified early on in medical professionals were star athletes under high pressure for hours on end with huge stakes in the balance by treating them with special care and championing. Their contributions figs built a brand allegiance that many enterprises would envy among a community that until covert hit was often overlooked. We'll start the show in a moment. After a word from our sponsor capital one business was kind of an old brick building. Nondescript had no idea really what i was walking into and then when you go in the doors and you see what he has built on the inside it tells a completely different story that's gearbox from capital one and she's walking into that brick building in detroit to visit an entrepreneur. The gritty exterior gives way to sparkling white walls and twenty foot factory ceilings. The company happy. How he's dog treats the entrepreneur. David gilford who turned a struggling company into a powerhouse of local employment. But now david has a challenge. He sold product faster than his factory. Could deliver you have that moment as a business owner really kind of pause and have the heart. Palpitation and say whoa. How am i going to go fulfil on all of those orders right now. How does an innovator. Like david deliver for his. Furry friends will hear that story a bit later in the show. It's all part of capital one's celebration of small business owners as they learn to innovate through challenges. Great and small. I'm bob sathian. I'm here with heather. Hasn't co founder and co ceo of figs the purveyor of stylish.
Drive-thru Phase 1A vaccinations begin Monday at Lake County Fairgrounds
"Can be seen begin receiving coded 19 vaccines at the Lake County Fairgrounds. The drive through vaccination location is by appointment only right now, appointments are only available for those in phase one, A That includes frontline health care workers and long term care residents and staff. The information for registration could be found at all. Vax via ex dot Lake County Lay Co CEO health dot org's. You could also call 847377. 8130. That's 8473778130 and that with
Breaking Into Secure Buildings
"My name is se aka freaky clown. I'm the co founder and co ceo of a cybersecurity company cooks agenda based in the uk. We work globally. Say genta is not like other cyber security companies and fz isn't like other hackers. His specialty is cyber physical security breaking into buildings red teaming for corporations banks and governments. But you know in real life that makes his workflow a bit. Different like for example. The first step in most major breaches is reconnaissance exploring an organization's digital infrastructure and their employees to find where they're most exposed. Fcc's reckon involves actually going somewhere and probably bringing some binoculars. Is it like the movies where you're just sitting there in your car sitting with a newspaper. That kid is sometimes more mind-numbingly boring than that. Sometimes it gets brady cold. I remember once Reconnaissance in a very calm sightsee much about on the building. I had to look at and i climbed over this. Barb wire fence it like in the morning. And i climbed through this like a thorn. Bush go early treaded by allows bleeding and had a a ski mask on. I had night vision goggles. And i had to sit in this ditch covault. This data is close enough and the ditch was half food muddy water and it just started to snow and i was really cold and wet bleeding and i had to sit there for like three or four hours whilst i watched this in order to gain some intel before i went back to my hotel room after the recon phase hackers usually send phishing email or text to the victim containing militia slink or pdf after his recon f c. Does something much more simple. In fact he doesn't even need to be a hacker for this part. So i never start with the digit i because the digital is actually harder than the physical and this sounds absolutely crazy but Each genuinely true. He is much easier to walk into a bank or any secure building than east digitally break in just walking in the front door. Oh actually be really really shocked at. How easy is i remember. Years and years ago. i was. I was on site for physical test and there was a couple of members of our company that were they and one of them said to me like audrey to like. Learn how to do the stuff you do a easy. just walk in and cable. What do i do right well. You don't really authorized to do this but our show you. How easy is right. So i'm like come with me. We walked to the front of the building. I look through the front windows right and you can see how this app is right. So the app is there's a couple of these electronic parties so someone goes up the swipe card the barriers swipe papa and they walked through okay so we have to do is follow someone through the way. These barriers work is they. They work with a small beam. That goes across right so if a large person with the suitcases going through. It doesn't shut the doors on the suitcase. Say imagine your as close as physically possible to the person in front of you. That's a legitimately allowed to go in and if you get close enough it's going to count was one person now. Will we have to ease. Make them feel humans of really pad being awkward and they wanna get away from that situation as quickly as possible. So the more would you make for that person then the less likely they are to confront you the more likely you are to succeed so it's like it. It's drizzling little bit. Oh you have to do is run to the front door. Run through the front door and basically run into the back of someone who is just going through that matt gate. Six is easy. Yeah eats really that easy so only it was. He ran up to the this of the the front door ran through the doors and picked up a person at random. He was just swiping. The card ran into the back of them and he basically said oh really. sorry how. it's a busy trying to get through really quickly. And he runs into them. They go through and they are feeling awkward. Because i just got run into. Everyone's where everyone's kinda like. Oh my god this is sorry And then they they so just let him go through. Most hackers fish their victims to get a foothold. Fc simply walks through the front door of their hq once. A typical hacker obtains their entry point into a system. They begin to escalate privileges. Fc does the same thing kind of the case a very large international bank in the headquarters. It's a bank but not the so of high street bank clean. Normally come across rights isn't this isn't the soul place you walk into. This is the type of place which only deals with other banks so they move money to other banks that's day like massive massive amounts of money
Breaking Into Secure Buildings
"Hacking large organizations. Banks governments isn't usually easy but there are ways to do it. You could fish the right employees then escalate privileges. You could find a zero day in particular software program used by the organization or you don't even have to start in cyberspace physical breaches stolen. Machines tampered with machines insider access hacking buildings themselves aren't the most widespread security threat out there but the exist. According to verizon report from twenty twenty physical actions are the six most common way that data breaches occur. And they're effective to think about it like this. Would you rather have to remotely hack into a laptop or just. Swipe it off a desk. Physical security isn't something we talk about much but we're going to today. Hi levy welcome to malicious life in collaboration with siberian and this episode. We're going to learn how to break into secure buildings or prevent others from doing it. T- my name is se aka freaky clown. I'm the co founder and co ceo of a cybersecurity company cooks agenda based in the uk. We work globally. Say genta is not like other cyber security companies and fz isn't like other hackers. His specialty is cyber physical security breaking into buildings red teaming for corporations banks and governments. But you know in real life that makes his workflow a bit. Different like for example. The first step in most major breaches is reconnaissance exploring an organization's digital infrastructure and their employees to find where they're most exposed. Fcc's reckon involves actually going somewhere and probably bringing some binoculars. Is it like the movies where you're just sitting there in your car sitting with a newspaper. That kid is sometimes more mind-numbingly boring than that. Sometimes it gets brady cold. I remember once Reconnaissance in a very calm sightsee much about on the building. I had to look at and i climbed over this. Barb wire fence it like in the morning. And i climbed through this like a thorn. Bush go early treaded by allows bleeding and had a a ski mask on. I had night vision goggles. And i had to sit in this ditch covault. This data is close enough and the ditch was half food muddy water and it just started to snow and i was really cold and wet bleeding and i had to sit there for like three or four hours whilst i watched this in order to gain some intel before i went back to my hotel room after the recon phase hackers usually send phishing email or text to the victim containing militia slink or pdf after his recon f c. Does something much more simple. In fact he doesn't even need to be a hacker for this part. So i never start with the digit i because the digital is actually harder than the physical and this sounds absolutely crazy but Each genuinely true. He is much easier to walk into a bank or any secure building than east digitally break in just walking in the front door. Oh actually be really really shocked at. How easy is i remember. Years and years ago. i was. I was on site for physical test and there was a couple of members of our company that were they and one of them said to me like audrey to like. Learn how to do the stuff you do a easy. just walk in and cable. What do i do right well. You don't really authorized to do this but our show you. How easy is right. So i'm like come with me. We walked to the front of the building. I look through the front windows right and you can see how this app is right. So the app is there's a couple of these electronic parties so someone goes up the swipe card the barriers swipe papa and they walked through okay so we have to do is follow someone through the way. These barriers work is they. They work with a small beam. That goes across right so if a large person with the suitcases going through. It doesn't shut the doors on the suitcase. Say imagine your as close as physically possible to the person in front of you. That's a legitimately allowed to go in and if you get close enough it's going to count was one person now. Will we have to ease. Make them feel humans of really pad being awkward and they wanna get away from that situation as quickly as possible. So the more would you make for that person then the less likely they are to confront you the more likely you are to succeed so it's like it. It's drizzling little bit. Oh you have to do is run to the front door. Run through the front door and basically run into the back of someone who is just going through that matt gate. Six is easy. Yeah eats really that easy so only it was. He ran up to the this of the the front door ran through the doors and picked up a person at random. He was just swiping. The card ran into the back of them and he basically said oh really. sorry how. it's a busy trying to get through really quickly. And he runs into them. They go through and they are feeling awkward. Because i just got run into. Everyone's where everyone's kinda like. Oh my god this is sorry And then they they so just let him go through.
The Rise Of Gig Work: Companies Turn To On-Demand CEOS
"Experienced executives of doing gig work do is, some companies are turning to on demand Workers to be CEO Zen Piers Yuki Noguchi explains why Duncan Thomas has served a CEO of a medical practice a Russian software firm and logistics company, each stint lasting a few months. It really suits how I like to work, and it suits how I like to engage people and, you know, it gives me tremendous work life flexibility, Thomas fell into temporary executive work by way of a traumatic experience. Six years ago, he was working long hours as the CEO of a vocational college. I came back from a vacation and I was feeling unwell on Guy went to the doctor that day. And that day, they said, You better go down and get an ultrasound. The doctor returned head hanging advanced melanoma, he told Thomas left him about seven months to live. Nine chambers of my lungs and I have three of my liver, and the biggest ones were nine a half centimeters in size, so it was pretty overwhelming. Thomas was trained as a veterinarian and found a clinical trial. A test drug eliminated the cancer from his body. It was almost like a rebirth. Thomas, a native Australian living in Los Angeles, reevaluated what he wanted out of life and work. Working as an itinerant CEO, he says, leaves him time between gigs to recharge with his family. The pandemic increase the popularity of gig work for CEOs. It's left Cos in turmoil and more leaders are willing to trade in a higher salary for short term stints and greater flexibility. Jody Greenstone. Miller is co CEO of the business talent group. It matches experienced executives with interim CEO jobs. Mello says she started her firm because companies in transition or crisis often need temporary expertise. But they don't want the multiyear commitment of a long term CEO. And the notion that I could just, you know, need somebody for three or four months to come in and solve a problem or help me, you know, build a new business just didn't exist in a formal way. The fact that so many people Are now no longer community to an office, she says, brought in the pool of temporary executives and the companies wanting to hire them. And what that did is it really opened up the world of talent, but succeeding as a gig CEO isn't easy. High end temps are often flown in to handle crises and scandals. Duncan Thomas has seen his share. The challenges can be very real. Thomas has taken over at firms that were cooking their books or the previous CEO sexually assaulted an employee. Writing. Such ships isn't easy. For starters, Thomas says. Workers often this trust leaders who parachuted in they're suspicious of their motives. And no, they won't stick around. Ah, lot of the stigma that I've come across is that you are changed around. You're a mercenary. That you are only into the money that you don't really don't give a damn about people these days. There's the added challenge of managing teams you've on Lee met online. But Peter woke with says there are also some advantages of coming in fresh make really comment as an outsider, independent don't have favorites that often helps also Well quits lives in Chicago. He's currently juggling two separate executive gigs at a robotics company and an e commerce firm. One of the benefits is never getting that rut of being in one company for a long time. So he says, it never gets boring. You can Noguchi NPR news
"co ceo" Discussed on The Mindvalley Podcast with Vishen Lakhiani
"Defending always stop defending. There's this huge relief okay. It's never once my oldest son was like you know he was really mad at me. He's like you're an asshole and for some reason this one time i said okay. Maybe i'm an asshole. And i just looked at me and said you know. Maybe i'm sorry. I don't mean to be. Maybe i'm maybe that's just who i am and it was like all of a sudden. He looked at me and he was like poof. He couldn't bring any more aggression towards me. Because i didn't defend. I laid down the sidewalk and said okay anyway. So it's really fun. Just to surrender it's wonderfully liberating to surrender and stop defending all the stuff. That's not true. Anyway while i was listening to you talk about this in chapter two of the book and it really hasn't been thinking reading. Your book is a meditative experience. By the way i got to say thank you. God that is. That's it could be the huge thank you so much. I really wanna bring up. I wanna bring up lease at the as liza ask a question. And it got the highest rating of all the questions so liza. You're ready to come on live and interview monty. I'm gonna make you a panelist right now. Lisa's freshness leadership is anchored entrust. I love that. How do we teach that to children. Let's extend that to. How do we teach that in general okay so lisa. You're going to ask a question. We're going to give you this video as a social media snippet that you will have the right to share on your social media. Okay that time you've got to interview the ceo of chipotle. Liza thank you. Thank you so much vision monte. This is amazing. This is a dream. Come true by the way mine. Amazing states with my life transformative. I would say so great. So thank you so much for the time i wanted to ask you monte leading with vulnerabilities these amazing. I would like to see you having a family how you teach that to your children. It's such a great question faculties it. I think the answer is that children are born with it. It's not a question of teaching it to children. It's a question of not ruining them. It's a question of not teaching it to them. Kids come into the world with unbelievable perception and all the instinct i discussed have all of it already. Like a perfect canvas. Just waiting to get painted on the problem is the paint is usually not derived paint. We teach them all these things that actually that actually tend to diminish them or hurt them or we disencouraging their vulnerability. We say things like. Stop crying crybaby. You know there's nothing to cry about. Toughen up get tough and we actually encourage young children to put up these fences. These sort of barricades this armor. We encourage them to put on armor. Okay and the more armor they put on. That armor comes in the form of this ego. I'm not saying is all bad. Kids do need to learn how to you. Know understand okay. I'm a separate body which needs to eat. I need food need to compete for my amount of food in this world. All that you know. It's okay it's fine but basically if we can teach a child from the youngest age that their feelings are fine that if they're afraid that's fine to feel afraid if they're feeling zayed they're humans. Human beings are these big ball of billions and billions of nerve cells. I mean we're we're gonna feel stuff. We're gonna feel things that we don't define as pleasant to feel we're gonna feel things that are frightening. We're going to feel things we're gonna feel anxiety we're gonna feel uncomfortable. Uncomfortableness is part of the human condition. And it is a real part of the human condition because we got nerves and we're gonna bump into walls and we're going to have people say things to hurt us if we teach children that having those feelings is good and that it's not better to feel happy than sad. It's just different to feel happy than sad. It's not better to feel excited than afraid. They're really two sides of the same coin. you know. i remember when i used to be swim team. I'd go there. And i'd be on the blockage jump in and waiting for the gun to go off. The water was cold dry. I was terrified. I might lose a competitiveness terrified. Well of course i was. If i wouldn't have been would've been something wrong with me and yet we think there's something wrong with us. We do you think there's something wrong with us. When we feel anxious in a situation that would make anyone anxious no. There's nothing wrong with us. There'd be something wrong with it. If we didn't feel anxious we need to allow kids to be who they are. We need to encourage that when they're feeling those feelings. Those are beautiful things. those are powerful things. Those are wonderful things that they're feeling even if they don't feel so wonderful. We need to teach humankind to embrace and love those parts of themselves that they tend not to embrace in love. You know all of us love it when we wake up one day in a great mood and we're happy and excited and we're thrilled. I mean all of us love that and all don't like wake up and feel. Oh god is oh my gosh so hard day but if we can learn to forgive the present moment just to forgive it like hey it's okay. It's okay today. I feel anxiety. It's okay that's part of it. That's part of what the human experience is about. And i want to partake in the whole human experience because the whole human experience is the thing that begets a really beautiful interesting valuable life of growth and abundance and unfoldment. You know if we only want the good parts it becomes boring if you think about food right if you have food. That's only sweet. Sweet sweet sweet sweet this boring right and if have food. That's only sour. Well it's that's no fun either but the best foods in the world if you look at them or foods that are a balance between fat. So acid right. It's like i'll take a funny example like a hot dog. Hot dog is fat with alternate. What are we dip it in. Well we mustard or ketchup. Both of which are highly acidic that salt acid that mixture of fat salt and acid. What makes a great meal even ice cream. It's sweet but it's loaded with salt. And what did we put on chocolate sauce. Chocolate sauce is very acidity to it. It's got you know that bite to it. You know semi sweet chocolate and that dot foot. Sunday tastes great. But it's better than just the ice cream right or an extra even has salt and fat. And so there's a balance to life and living. A life of balance is great. When i did this docu series so far that we've done six episodes which are gonna come out february but if i was to say one thing that i learned is just incredible through.
"co ceo" Discussed on Art of the Hustle
"Tense. Yeah very peaceful. very quiet. very green. Couldn't wait to get out of. The kids are now wait to get back. Where was the first stop when he got out of there. I went to university. I went to a place in england. Cool birmingham which is the second city in the middle of middle of the uk. Had a brilliant time met lots of friends kind of spread my wings a little bit and then. I moved back to london to set up my business. I lived in soho the many years which is kind of the the dirty beating hall of london very creative but he medium from place to live. I love that and were you particularly talented. Anything exceptional something at that. Phase your life that gave Precursor tat what you'd Going on building. I wish i could say i was a child prodigy or a genius something saudi. I don't think i was r. I was always cooking up. Random business ideas driving my parents and neighbors round the bend. I don't tell many people this but i. I was very obsessed with chess for while. I wanted to be a grandma stone. I'd sit in my bedroom learning all the different openings and then i drifted away from not go to holda what was what was the first business in london will the first business when i was a kid with them i used to put on. Bmx stunt shows in my backyard and shower. This wasn't just for fun. The business it was a business not no one. No-one known came which was quite sad but so to spend hours practicing my moves. And then i had a computer game magazine. I used to spectrum and Would would write these reviews of games. My friends school and then.
Covid Pushes Real Estate Into the Future
"About the coming year now with a real estate professional. Joining us is Thad Wong, co founder and co CEO of at Properties, one of the nation's fastest growing real estate brokerages. That Welcome to real estate today. Thank you. Beautiful Being here. We are delighted to have you here. So fat for real estate to remain as robust as it currently is. You would have to keep the interest rates low. So what's your forecast there? Yeah, I don't think anyone is forecasting a rise in interest rates. I think chemo to the effects of the macroeconomic perspective is devastated, and I also don't seem anywhere there is the world that's really competing aggressively to, you know, develop any type of growth that would justify increasing rates, so no one's anticipated rates going up any time soon. That'll be very helpful. So if that's the case if interest rates are at three, or just below three for well qualified buyers And it continues that way through next year. Do you expect that the push of buyer demand will continue unabated for at least another year. I do think that we're going to see a pusher buyer demand and part of that is interest rate driven. Another part of that is that I didn't millennials are now at the point where they're gonna be purchased and those that have skipped The first step of purchasing entry level condo, and they're buying a midsized, larger pond or internal single family home. I think that's happening now. And I think Millennials are not going back the very small micro units and small apartments and they're moving towards homeownership. I see. You know, we've heard a lot of economists tell us that they've seen a big migration happening from the city cores out to the suburbs and beyond all the way out to the rural areas way out in the country. Do you think that will continue? And if so, What happens to the center of the cities in America? Yeah, I don't think I will continue. I think for the next couple years you're going to see people that Can work from anywhere, move out to the suburbs and people that appreciate the space. But I do think that the vaccine was distributed. I think we'll see the reemergence of the city this summer. And I also think that businesses will move back to Sydney and culture is in need of people collaborating with one another. So I think the cities will come back. Very, very seriously. Both New York Chicago are gonna come back quickly. There's nothing like the city. You know when he's sporting events are closed, and the theater's closed in the restaurants are closed and you have to social distance. You know, a lot of things in this city become less valuable. But you know, once they're open up in there, back alive, If you're on the suburbs, you don't have access to them as quickly it becomes a lonely, boring place. Unless that's what you really like. So Tuesday, dwellers there live off of the action and loved the diversity and love the energy of the city. Once it comes back, they're going to come back. They also young think, do believe the younger people want to live in the city and the big believer that those people are thinking they can work anywhere in the In the country or the world. They're gonna be coming back to officers for culture and collaboration. And I think that both New York and Chicago two years from now, a baby just under great will bust recovery. I think that we have in abundance of square footage of office space, but I do you think it will get filled back up? It might take a few years. I think that you're going to have seen migration back the city core. And to see additional office space being taken. I think your ISI continues to corporate growth, and I think that growth will be in central city's in locations. They're desirable by many. So I don't think a lot of these changes in Andy's here forever.
Netflix's Q3 demonstrates the dreaded 'pandemic pull-forward in demand'
"Netflix's just reported in its worst ever earnings MISS INVESTORS BANS quarterly results from the streaming giant Jillian. Boston's on the West Coast this morning joins us with what went wrong in Q. Three. Was it Netflix's or wasn't the analysts Julia? How well expectations that were certainly high and then? Netflix shares today we see them plummeting on the biggest earnings myths and snatch flicks went public those earnings falling nineteen percent short of those analysts expectations now with Netflix. Of course, always about that subscriber number, it fell short of the companies already lowered expectations the company outages two point. Two million subscribers in the quarter in guided the addition of fewer subscribers in the fourth quarter then anticipated. Now, that's not all looking ahead to next year. NETFLIX's warns of some very tough comparisons but co-ceo hastings saying he's not concerned about competition we compete. So broadly, we compete for time against you know tiktok to as well as HBO as well as I tell really, the limiter for us is you know what's the quality of our service How often how many nights you say Oh my God I want to go to Netflix and and watch the next show. In contrast to Netflix snap shares soaring after beating expectations about twenty one percent beating expectations really across the board snaps revenue growing fifty two percent more than double the growth rate than analysts projected with a surprise profit of one cent per share that's compared to the five cents per share loss than analysts anticipated. Now, Becky what's really interesting here is that snap has really benefited from Kovin pushing advertisers to try their augmented reality ad formats and also guys there was a subtle dig at facebook sounds like they may have benefited from that facebook ad boycott well. Julius stay here we want to bring in another voice to the conversation as well. Rich Greenfield joins US right now he's of course, partner and Co founder light said partners and I want to start with Netflix's first. Then we'll get back to the snap story, but but Netflix, you say the real story here is that the bear story is gone. What do you mean these are disappointing numbers, but it does come after a very strong first-half for the company for for a subscriber ads. Yeah. Look look I heard the commentary that you were just talking about in terms of like the biggest. History of Netflix. But remember this is a company where again people are very focused on the subscriber trends and the subscriber trends in the first two quarters far out seated in terms of the beat far outside at Amiss here I think the real story that people should be talking about is that not only are they generating substantial free cash flow this year, but even next year as production is in full swing again, they're talking about that they may be at break even free cash flow and so the financing the sort of the bear thesis on Netflix for years was that they. Don't have the money to finance all of this content they're going to run into capital, they won't be able to finance. They won't be able to raise capital and that was sort of the the the bear thesis that's been ongoing for years and years. They're basically self financing now. So the view that Netflix has a capital raising issue is now gone, and if you start to look out over the next few years in terms of their pricing power and you're starting to move up price in Canada recently in Australia, we think the US will happen either in or early Q. One. Pricing Power and all of a sudden you don't have any cash flow needs in terms of having to raise capital. This thing's going to generate dramatic free cash flow and you're going to see the scale to billions and billions of free cash flow a year. That's what people should be talking about look beating lieutnant missing numbers is never a good thing for stock I get why it's down today make sense that it's down at Ted a huge run this year but I think this is more about consolidating as it continues to move higher. into. The point I think the company said on the call that if there had been another forty eight hours in the quarter, they would have met their projections or even exceeded some of the projections on this. But but when you see a pullback of about five point, three percent today does that represent a buying opportunity to you given how much the stock is already run this year? Absolutely because I think the thing that you need to be thinking about Becky is when you think about what's happened over the last sort Of like six weeks, what's really become clear one, the pandemic isn't just disappearing. You're seeing it flare up again in the US you're seeing flare up across a lot of Europe it even parts of Australasia like this is not going away. So we're all going to be more homebound or in terms of you know kind of entertainment activity for a longer period of time unfortunately over the course of the next six to nine months at the same time, the movie calendar has cleared out like all of the movie studios have. Essentially delayed all of their content two, second-half twenty, twenty one if not into twenty, twenty two, and so the path for Netflix's the runway has been completely cleared. They were going to be putting out movie after movie they've got a Ron, Howard movie hillbilly comes out in a few weeks an animated feature over the moon there's just a ton of content coming and really no competition and so I think that's GonNa really well,
"co ceo" Discussed on What's Good Games
"So really you just have to have can of what is Your Strategy What are you trying to get what what consoles are you targeting and then each one I, mean it really depends on where you start really depends what console you start with because sometimes you either optimizing or you're trying to uprise your assets. Then if you throw mobile in there, that's obviously another good chunk of months to work on. To get to make sure that you have all your content optimized and Change Your Ui over. Make. Sure. You really optimize the player experience controls and everything. So yeah, it's just when the controls change when you have to adjust for the UI when you have to adjust for optimization and what the hardware can handle, you have to take all those things into consideration and they all take sometimes and have some trade-offs. The after meek. So, would you say it's like three times or it like does it just like double for every platform you add or not quite double not quite double eaten. I would say you know if you start off making something for playstation and Xbox, and then you bring it over to switch. You know that can be about a third more time because you really are touching all of the assets and thinking about how they how to us, how really use the switch as a different type of device that you can either sit and play or you can use it undocked and you think about how to optimize for controls and things. So maybe a third a third more time no not like each one is an additional fold cycle. But it also depends on how much advantage of the different features that are particular to any of the council that you want to take advantage of sometimes, you may just decide you want it to be the same experience everywhere that can have its own challenges. Sometimes, you just really want to make sure that you're adding new features new content that are specific to the consoles. So it really just depends on what what are your goals with your product. Fascinating. Oh, I know I would love to see like the line item cost specifically to us like the light bar or like the touch pad yeah it. It is kinda crazy. Ended it also depends on if you're developing something from scratch or if you're bringing in existing title and then what was that existing title? What was it quoted in before? What engine was it in before? How does that translate are the specs similar or different to whatever the generation is now? So can can you take advantage of that or is a bigger challenge I mean, it's terra lot of variables we have a lot of spreadsheets. Lot of planning that goes into this. So are you confirming that game? Deva's hard. Firm this long rumor I've been doing this for fifteen years. And yeah, it is hard. It is hard. You, know, I think even some people engaged of think that there's like an art button, you just hit it and like suddenly all the artists optimized and all your Elodie spit out and it's beautiful. You never have to touch it again and That's just not true. Just not true. People do a lot of work on these titles. How to games, even get made. Oh nothing to something it's trying to. Game Developers. I WanNa give to chat shout outs. I see one am boys Saint Chelsea's my favorite co-ceo ever I Adam. And I see all the juices hire me I can help with the stuff and I'm glad you brought that up all that juice because iron galaxy is hiring ray certainly. Yes we have. About forty people since March, which I am really proud of and feel it's actually kind of crazy all onboard remotely since the beginning of Covet. And we are hiring people for really almost every in every different discipline right now. So please check out our job boards we are excited to have you. Boom has shame jobs everybody. We do have a couple more news stories to get to, but I do WANNA keep chatting with you because I find this stuff super fascinating and whatever. I. Get to see you you and I like rarely get to like talk shop. Always like out and about other stuff but. The next story that we quickly want to mention. In case you guys missed it is the addition of eight and peers in the wash campaign. So you saw in is or hopefully saw reorganize preview of watchdogs legion in a UBISOFT has confirmed that the original protagonist of wash dogs is going to be playable in the main campaign and we'll also be customizable. So essentially, kind of the cliff's notes version is that aid is going to. Be Treated as another member of the team, they are writing a full single player story with Aden's personality when you replay the main missions again, eight and will be integrated into all the original cinematics eight, and we'll also be added alongside three other playable characters wrench from watchdogs to Darcy and assassin in Meena. A victim of trans human experiments with psychic powers. It's not clear if the other three will be playable in the main campaign but. Fillon them then. I don't know how to I don't know how to say that that is the last name of the gate live producer Lafayette she feel L. Anthon. Sorry. We apologize because continents are hard but essentially said that all of them will be playable in both single player and online modes. So if you guys are interested in that, you can find out more details over on Ubisoft a website. And then had Brittany. Distance. Throw it in here because it's been. So long since you've talked about destiny Chelsea. Andrew has his.
"co ceo" Discussed on What's Good Games
"What's Good Chelsea? Oh, it's just Monday. I'm just really excited to be here and chat with you guys. We are excited that you are here as well for everybody who doesn't know Chelsea is the CO CEO of Iron Galaxy Studios. You may know some of their more popular titles like dive kick. I always bring up dive kick. Kick. Kick to what's happening. Whereas you know it's possible. Anything's possible I just keep trying to get one of the two button controllers out of storage and sent to my house, and so can if you're listening I'm still waiting for that please. Me One. I thought that there was only like a very small amount of those custom controllers made because I. It was actually the first time I had ever met the founder of the studio Dave Lang who was at a playstation judges week press event showcasing dive kick right one the PS four was about to be released. That's how long ago. Is a Jefferson. So, there's just two buttons blue and Yellow Yeah I was like. Okay you get so much aggression though just slapping I did a lot of the demos. Eddie three, and so just slapping that all day by the end of the day your hands hurt because but you felt great because you were like I. Just. Play it I I love the two button controller experience. Did You Think it my guinea pigs played it yet. They could do it. They could play it on the Vita. Very Guinea pig friendly. Like the furry animal ethics. Yeah. Yeah I brought him on I dream one. nonchalantly. Also hold on. Let's go back here. Okay. That's fucking incredible. I Oh but yeah, I love. To go search for that stream footage now, to watch the guinea pigs play and for people were confused dive kick was. D fighting game were you literally could dive and you could kick and that was all you could do in the game thoughts the specialty to button fights Dick it's you need. Yeah. Exactly. One hit what you're killed boom done. Exactly. We're special the game though. To the challenges of doing interviews over over the Internet but I did want mention to people the fighting game that you may know iron galaxy four is, of course, killer instinct and you guys work on a ton of other games we're going to get to in just a little bit but for people who maybe don't have any inside I would love to. Hear a little bit about your journey to become cozy y'all. So this is a relatively new title for you because previously Chelsea was the chief operating officer and there are just so few women who are in the C. Suite in the video games industry that I think it's high lighting just how awesome it is that you're now co-ceo say that acid thank you. For me, it's just kind of a letter swap. You just take that out and then you put in there. But yeah. When I became partners I've been with Iron Galaxy for ten years it'll be ten years and Dave will get on me if I messed that up but ten years the very beginning of November and I started off as a senior producer and I was running a lot of the tiled titles. I was kind of a game director and I started just taking over all of the day to day business and Hr and operational stuff that can fall to the wayside when you're just trying to get the products out and Dave started doing all the Biz Dev. So when we became partners Adam, boys came on about four years ago. I was chief product officer because it most reflected I was really in charge of all of the Games and the titles, and then I was like, okay also doing all this operational stuff and running facilities and So. Then the switch to coo and the now Adam and I are like wonder twins unite. Let's go forward co-ceo style. I love it I think that's Great I wish that we could celebrate impersonal person. congrats on ten years away. As, well, and I can't wait to dive more into hearing about what you guys are working on and what you guys are up to. But we do have a couple of quick announces for we jump in to the news for everybody. So lights off has been going. Of course that is our Halloween inspired spooky streams every Monday at six PM, Pacific, time, Britain, I, have been having A. Was Fun the Word Brit. Yeah, we know I feel like it's a bonding experience. You don't quite bond with someone until you almost die alongside the many times and I feel like Andrew Well, let's be fair Andrew side many times alongside me. I have yet to die alongside her talking specifically about thousand phobia they love you. On off-balance on Ben. Some dollars, they just WANNA kill you. Yeah. I feel like you know we've bonded. We've become so much closer to the experience and I think that just in nightly comes fun. Yeah. That's true. We've been playing Spooky Games Chelsea in the one that we played as mentioned was fast phobia and I decided to be proactive and do a training session Dombi hills in advance of our dead by daylight stream, which is going to be next Monday and boy oh. Boy that game is is, is something else if you think we've been scared already it's it's like turn turn turn up the intensity really here's Oh, that's surprising. Okay. Cool. I think it's because it's a lot more active and there's somebody chasing you. To Kill, you control by another human versus just like an I and I, think that's really what it is because it takes that fear that you get from plane something like Friday the thirteenth but like it's much more intense. Cool. The map is smaller and so you don't really have a lot of places to hide still think sneak kings one of the scariest game. So ever wait sneaking remember the Burger. King. Game it's like oh He's got. A. Lot of breathing my. God about fat. Top Five terrifies me..
H3cz to reacquire OpTic Gaming from Immortals Gaming Group
"All right. Let's get into the last word on the street, which is a big one here, and it's all really been all but confirmed. I think it's safe to say, but we just can't officially confirm it is that heck's is buying back optic. Somehow some way. And so finally, the memo of not heck's his optic is actually heck's his optic once more a lot to unpack here. And like I said, this is where the details artificially out yet. So I guess we kind of talk and speculation. That being said friendly reminder it is now nine. Oh, seven PM. October. Fourth Sunday night by the time we finish this. This is the Secret of the trade here we're going to students spend time speculating what this means. By the time we wake up tomorrow all the news and everything will be broken out exactly what it means. That's how that works we spent, and that's what's not surprised. If we hear right after this like one hundred percent confirmation that it's all happened but we know it I mean we we know what's happening. Like we feel pretty confident that this is all going through reportedly already acquired. Often. Gaming immortals brings it back to himself. Now a lot Tim's has lots unpacked. The big thing here is Hector's co-ceo currently energy for those that don't know right he already has a CD. All, slot. With. Being the Chicago Hint Huntsman this would give him a second slot, which reportedly he would have to sell off, and so that starts a whole nother conversation but but this would give him full ownership back of the brand. The content, the brand bringing back the Green Wall I think. This is massive like I. Really a I'd be thrilled for the guy because as much as we you know knock on Hammond and it's fun to do in that sense. The way I feel like the way we do it it's all fun and Games right like. This would be really cool like this would be. I'M NOT GONNA say this list the curse because I curse will follow there is one thing and one thing only that will lift the curse and that if if heck's is brave enough to show his face on this show Reached out to them to even talk about this, we've reached out to heck's multiple times. Said, he'd come on the show. He said he would come on the show news, and then as soon as you start trying to pin a detail in a time, he'll ghost you. It's happened multiple times hence, why the? Yes have hence why the curse is on facts and the only way to lift that cursed tax because I know you're listening is to come on the show and just talk you'd have to apologize even though you probably want to you don't have to. Imagine this dude right now like imagine the cloud nine that he is on. Tim If this all goes down the way we think it's going to go down right? Like he's probably you. Obviously I. Think he stays with energy in the sense in the co- CEO role especially if he has to sell off. The CD L. Spot but to have that branding back for him, I think would really like mean everything in terms for this guy like I do believe he truly one hundred percent regrets letting go about Dick like and I I, think this would kind of confirmed that right that he obviously does regret that decision especially the way it all happened with optic. Jay and all the nonsense like never he never let it go. He never never let they went off to war they broke up they were like dude were breaking up with you I'm going to war It's like I have other girlfriends here like it's over and hacks was like I'm not giving up on you and now they're all home. It's like the notebook. This is heck's and optic is now the notebook and were just in that phase where we're Noah built the home you know heck's built the home and he now the now they're back. I do wish he took back over the optic brand from the CDL perspective though so I, know that's not going to happen because of scum like team that's what's holding it up in. Yeah. Not now him and Andy Miller best dudes I think they're best friends that anyone has ever had and I agree with that. But if the players that Chicago had weren't those players, I truly believe heck's would say, Hey, thank you so much energy for everything you've done I'm this is this is my this is my baby and I got it. You got to choose your baby over you know whatever. So I I one, hundred percent believe in my heart that if it weren't for the players on that team, which is heck's his players. He would go over and just outright own optic in the CDL spot severing ties from Chicago but there's no way you could do that to those players that takes a little bit away from like. The enthusiasm I have for the deal altogether. Yeah. Right to not see that involved in in call of duty obviously because if they sell the brand has gone then from caller duty like older yet. You can't have. You can't have optic branding in cod league than optic content creation branding outside of it while having nothing to do with each other. Yeah like. Owners of spots. You know that's that's the the biggest challenge in. So it will be a little unfortunate that you just you don't see them in cod anymore but there's opens up other opportunities tim like this opens up a whole nother slew of rumours
Did Hecz Really Get OpTic Back and OWL Commissioner Steps Down
"Let it happen. Please let it happen. Please let it happen today to Eastwards Observer reported that Hector Heck's Rodriguez the longtime CEO of optic gaming during the days as the Green Wall bought back the optic gaming brand that deal has not yet been confirmed by official sources within activision blizzard according to the East Sports Observer's sources heck's acquired the optic gaming intellectual property and the spot in the call of duty leak due to heck's his current role as co CEO of energy backers of the Scotto huntsmen. The CDL spot would need to be sold, which would require the approval. The fall of optic has been one of the big stories in these sports over the past two years. The legacy brands been ill-fated year under the brand infinite East sports and entertainment before being bought by mortals Gaming Club. Soon, after HEX now at energy released a video calling out the optic brand for not being the same one that was actually the first story we ever covered on the sports minute he seemed to be successful in transferring the fan base from the optic logo to his new spot with the huntsman with the struggles of activision Blizzard's Franchise Leagues Immortals Game Club apparently saw chance to cut their losses with the CDL the still have an. Overwatch League team however that League may be in jeopardy too as you probably have hurt the current Bill Commissioner Pete last week stepped off miserable today he lasted just over a year after replacing Nate Nancy who jumped epic games last summer. So we are set to have three commissioners in four seasons when the automobile starts up again after this year I think it's safe to say that's not good. We all just have to cross our fingers and hope hex gives the optic gaming brand bike at least something good will come out of twenty twenty.
An Experimental COVID-19 Vaccine Begins Human Clinical Trials
"May May Peter Thanks for joining us. Great to be any pleasure. We're GONNA talk about Kovacs Peptide vaccines and the company's efforts to develop a vaccine for covid Nineteen Kovacs is a division of United Biomedical which has long produce. Vaccines May maybe you can begin by just talking about how Kovacs came about. He Asher. So it started about six months ago when cove nineteen was coming across ocean and essentially how you know my husband, my Lou gave Peter a content listen i. think we could do something about this curve nineteen we we were ground SARS, the first one almost twenty years ago, and thankfully for the world never win anything anywhere but this covid nineteen doesn't appear to be. Letting down. So I think we can leverage our platform for both diagnostics vaccine's what do you think and of course Peter was like absolutely let's do it. So that was the birth. Origination of Kovacs. Now here we are in body told for one vaccine later. Up there you're you're both in investor and vice chairman what was the relationship? How did you know me and what led you to become involved? So I had met may may an Lou years earlier through the X Prize Foundation they were at our annual visionary event, which is our big get together with sort of world leaders and Philanthropists and Ed became really super close friends. We have kids same age and I joined their board of a sister company called United Neuroscience, which is now rebranding as back sanity. and. I found them to be just absolutely brilliant passionate dedicated biotech leaders who had a very different mindset from the beginning that that redneck was very. Resonated with me from a perspective of things I care about about demonetizing democratizing healthcare, and and. So I joined their board at this other company. And in March when they called me a like of course, let's jump in and I helped pull together the Capitol to kick Kovacs off. And then May. and Lou who are co CEOS of Kovacs and also the other company vaccine entity. You'll have an amazing science team. Globally around the world and end within thirty days will was extraordinary from a standing start being able to use and leverage different parts of the of the previous companies. May Enter team first of all developed what is now the most sensitive most Pacific blood antibody test? This is not PR. This is have you developed antibodies right? The blame by test serology and they developed thirty different vaccines. And started. Looking at those the efficacy, those vaccines and ended up with a lead candidate, which is pretty extraordinary. Think of you as a a fairly big vision guy people may know you as the founder of the x prize earlier singularity. University. Also co-authored a very optimistic view of the future in abundance. Bestseller really a good guy who's embraced technology is making a better world. In some respects you you're interested Kovacs's understandable given the scope of this pandemic at the same time it. Almost, a bit mundane in that. It's it's not a problem necessarily in in need of a new technological solution. Is there something about Kovacs that? Inspires you in light of the other things you do. While they're is the it's the platform. Here in the platform, something, that may his mom? Who is the you know the? Founder of the company and and really the inventor of the technology. So we're living in a world right now that is healthcare isn't healthcare at sick care and the system takes care of you after you're sick and while we spend an extraordinary amount of money. In the United. States. Are Healthcare is awful I mean really is terrible. It's comparatively to other countries money we spend we should be ashamed of what we get result
Slack and Teams Make Work-From-Home Easier-But Sometimes, Less Civil
"Since the start of the pandemic, we've seen a huge uptick in the use of workplace, Messaging Tools Services like slack and Microsoft's teams. Those platforms are a good place to communicate quickly and they've acted as stand in for the office water cooler. But at the same time, we reported that some employees have been taking things a bit too far. OUR REPORTER CHIP CUTTER JOINS US to explain chip to have you here for having me. So we've been talking about these services sort of accelerated popularity in the pandemic, but can you just remind us of the kind of growth we've? Seen in the past couple of months. Absolutely. So if you look at the number of users on the platforms and the time that people are spending on them, all of that has increased since people began working at home and March, and it makes sense. We don't have a way for many of us to communicate with our colleagues face to face, and so these chat platforms really become the de facto way that we get our work done. Places to answer questions to kind of talk about projects but they also ended up being places where people can socialize and just inform their colleagues about what's going on with their lives and so in talking with a number of companies and workplace experts, they say that there can also be some issues that arise because people do feel. So comfortable in these platforms that sometimes it can be they can be spaces where people feel bullied or harassed other issues that have come up. Yeah talk a bit more about that. So what kind of issues have have we been starting to see? So because these platforms really had become so essential to so many workplaces than are such. A big part of our daily work lives. Some people don't have also said that they feel like these can be places for bullying or passive aggressive behavior. A recent high profile example came in your times where the opinion writer and editor. Bari Wise, reported that she felt harassed in company-wide slack channels at the time and that people actually would post acts emojis next to her name in December, for example at the Start up away initially that the company's co-ceo Time said, she would step down after reporting in the verge showed on kind of grievances and kind of her criticizing employees and company slack channels. She later kind of reversed that decision. But but there have also been a number of cases. Lawyers have reported recently with employees coming to them and saying that they felt kind of bullied or harassed in company slack channels. One of my colleagues talked to an employment attorney in California, who had a case at a Technology company there where someone shared an image in a company slack channel. One worker said that she didn't feel that that image was appropriate for slack and as a result, she received a lot of messages calling her uptight saying that her reaction wasn't appropriate and so you can just see how this can escalate quickly and kind of cause some problems people feel like the messages aren't civil and you become more toxic and you over messages there's this opportunity to believe misread something or talk past each other. I think looking back over these past months between the pandemic and black lives matter protests. The moment has really required thoughtful and nuance conversations which can be challenging over slack. Well, that's right and I think it's also important to mention that applications like slack. KIMMY, really crucial for organizing employees and getting people to come together and talk about issues that they care about. We've seen a number of companies respond to employees voicing their concerns going straight to the CEO Insane we want change here we want greater racial equity, we WANNA see. Differences in our company operates and a lot of that has originated on slack, and so I think companies are trying to walk a fine line here. They want to be able to give employees a voice. They WanNa give them outlets where they can share their concerns voiced dissent, but they also worry at times that these platforms can become. Can become toxic. So I think a lot of companies don't want to get too involved here in shutdown that discussion, but they also want to be careful and I think the black lives matter movement is a great example of that as a place where in corporate America a number of colleagues. Their peers together using these platforms that are such a big part of our lives and and they've been able to do that through features like private groups and shared channels, and all of that around a specific topic that lets people get involved chip. I think if we look into our crystal ball here, we're looking a future with a lot more remote work in it, which would lend itself to a future with a lot of slack and Microsoft teams and other platforms in it to how can we expect? This to kind of develop in the future, the experts that I've spoken with have said they that these tools are only going to become an even bigger part of our lives. We are all so comfortable with them. Already, this is here to stay and I think companies have to figure out how do we create platforms where we feel comfortable and where our culture kind of extends to our digital platforms and so some companies for example, have issued guidelines I talked to the CEO of e Vite, which is the. Online invitation company it's based near Los Angeles and right employees went home in early March the company sent an extensive list of guidelines and Best Practices for employees of how they should communicate digitally when they were working remotely and the CEO told me that there's been a huge help to the company that they feel like that has led to people just getting on the phone or getting video chat when problems emerge instead of bickering and slack, and so I think in talking with other CEO's many feel that. They want to make sure they set the proper culture on these channels certainly feeling like they're going to be a big part of our future going forward. Alright are put a chip cutter thinks much for joining us really good to chat again
As Grocery Deliveries Soar, Startup Raises $10 Million to Unseat Giant Instacart
"As a result of COVID, nineteen instinct cart has become the Goliath of grocery delivery businesses as virus fears. Keep us out of grocery stores. We've been relying on food delivery mainly, INSTA- carts GIG workers called shoppers to keep a stocked up. This April INSTA- cart sales were five times greater than a year ago the Financial Times reported that I've popping growth hardly escaped. Investors Notice INSTA-. Cart raised another two hundred twenty five million dollars earlier this month that evaluation, approaching fourteen billion dollars. That's nearly double its valuation only eighteen months ago, perhaps needless to say instant carts thirty-three-year-old. A poor va mater is now a billionaire. But less you jump to the conclusion that Mehta can sit back and relax safe in his seat at the top of this rapidly growing industry. Thank again. A small startup called Ling is coming rich share of the grocery delivery business, though tiny compared to Insta- card investors are also taking notice last week dumpling raise six point five million dollars for a total of ten million dollars in funding so far founded in two thousand seventeen dumpling helps people create independent delivery businesses, the difference between shopping for instance card and dumpling is simple, but fundamental dumpling delivery workers own their own businesses Insta- cart workers are subcontractors paid by the shopping trip. Dumplings Co CEO's Joel. Shapiro Innate Danna make no bones about what motivated them to create dumpling. They felt sharing economy companies like Insta- card were treating workers on fairly so they created an APP that helps perspective entrepreneurs go into business for themselves to create a new business users pay a ten dollar fee for access to dumplings services and listing on the company's site where customers can search for shoppers. Bhai Zip Code. Shoppers paid dumpling a five dollar fee for each job or when they get busy enough switched to a monthly payment of thirty nine dollars. Dumplings model is not unlike Amazon's two year old partner delivery service, which also helps people start their own businesses in their case exclusively delivering Amazon packages supporters of the independent model say self employment in the delivery industry offers a number of advantages including higher revenue and insulation from the anti-god worker legislation that's cropping up all over the country so far fueled in part by the pandemic. The models seems to be working dumplings. Founders say customers or ordering twenty times more groceries than they were before in nineteen, and the company says it has helped. Two thousand people start their own delivery companies people. People like Kelly Vilchez in Orange County California. Vilchez operates under the business name shop girl. Oh, see. She told the L. A. Times that she's earning three to five thousand dollars a month. She's clearly a dumpling success story. According to the shop girl OC facebook page villages is featured in dumplings advertising campaign in contrast Insta- card has been plagued by shopper complaints since the onset of the coronavirus in March and April, many walked off the job, demanding better protection against Covid, nineteen higher tips and sick leave the Winston card initially claimed the strikes made no impact. Courts reporter Michelle Chang Rights. That's debatable on June. Fifteenth the Seattle. City Council voted unanimously to require that. GIG were companies like Insta- card and Grub pay their workers an extra two dollars and fifty cents hazard pay per order. That requirement is intended to last through the end of the COVID nineteen civil emergency declared by Seattle's mayor. Insecure has vowed a legal fight. Similar legislation is pending in Philadelphia New York and San Francisco Chang writes. It is these sorts of ills shortages of personal protective equipment, low pay and lack of sickly. The dumpling claimed self employment solves, but entrepreneurship isn't easy dumpling delivery workers have to do their own marketing and find their own customers, and they're on the hook. If grocery buyers failed to pay, which dumpling says is rare, that said any platform that helps the millions of unemployed grow their own wealth. Is appealing to investors, and it's interesting to note that dumplings mission says nothing specifically about the grocery business rather they say. We WanNA. Make dumpling trusted partner that helps anyone launched running grow their own service based business. Sure dumpling starting groceries. Be Questions. Where will they go next?
Baking is Americas New Pastime and Thats Putting King Arthur Flour Under Stress
"Happy Friday France for today's feel good. Friday show WanNa tell you the story of Abbey Goldstein. And how she and millions of people like her are affecting companies that sell flour and other baking supplies. You See. Goldstein is an avid home. Baker in Pittsburgh in mid March the day after a national emergency was declared. She said to herself. I know how I'm going to spend my time at home. I'm going to bake. And she started what she assumed would be a small facebook group. The Twenty Twenty Corona Bake challenge to make it a social activity today only five weeks later. There are one thousand one hundred active bakers in that group and more joining all the time from countries as far away as Israel Colombia Thailand Malaysia in South Africa. The way it works is like this every other day. Goldstein challenges them to bake something new share photos and advice the stream which has had more than forty eight thousand posts. So far is full of everything from bagels to puff pastry to yesterday. Stunner a cake decorated to look just like a puppy. Complete with tongue hanging out but with a number of bakers on the rise so to speak so too is the turmoil within companies that supply flour yeast and other necessities. Surely you've noticed the sorry state of the baking of your local grocery store. Well if you shop first thing in the morning you might have a prayer of buying flour and yeast but then again maybe not those empty shelves translate to furious activity at the headquarters of one of the country's most well-known flowers suppliers King Arthur flower in tiny Norwich Vermont. Typically at this time of year. The two hundred thirty year old one hundred fifty million dollars plus company staff at fifty percent capacity baking traditionally slows down as we head into spring but now King Arthur's working with its suppliers to produce products twenty four hours a day seven days a week. Co-ceo Karen Coburg told Yahoo money sales spike to the beginning of March over the last three weeks sales or triple what they normally are in the spring with King Arthur's existing flour mills operating at capacity. They've had to add another
Interview With AI Pioneer and Startup Advisor Steve Ardire
"A little bit about me if you WANNA give me A. I can give you a quick capsule and what. I do so so I've been Advising startups for twenty five years the last seven squarely in the a I think in multiple areas everything from Enterprise Ai I've kind of moved up the stack from you know you know the plumbing side of things up to applications in different spaces in the healthcare space in in hr and then tackled entertainment. So Ho- sprinkling of verticals and And I typically lock onto early stage a soccer startup so I have an affinity for underappreciated underestimated underdog startups where I can come in and give a turnkey the Liverpool which is rare for advisors. I can come in and help shape. Their business strategy product market fit put together their pitch get it funded so these are typically anywhere from some crazy but typically see seed stage from one to three million funding and then get to the fun part which is a operationalizing the tactical execution. Which is going to market. You know for a customer engagement and partnerships very cool. So you're you're a busy man very busy and you know typically it's interesting You know I should have done this earlier in my career but About four years ago many actually five years ago I decided my wife has horses. She has a stable of horses less now so I decided to put together a stable over a startup parts. My Palm Acros. You know Anywhere from six to eight and some of them will more intense gigs on the ones. We're just you know you know maybe four to eight hours a month and And it was interesting because I mean that's really how the play the game It's a numbers game. And you know you want horses that you know are GonNa win place or show and that's the way it is. I mean no matter how you slice it nine hundred ten Safra Safra startups. Whether they're a are not Fail to numerous reasons so so I mean you try to get a little more discerning and with the experience picking the right horses but space on. I mean it's the toughest one because You're not quite there. You may have some. You know early adopter. Traction you've gotta get you know to a Commercial Bible product. It's difficult but the good news is that today with the open source cloud services The whole cost of standing up software startups. It'd be have a compelling application You know that's kind of you know outside the gun side of the big players. And you can. You can feel it. You know you can feel your Deployment Pretty Pretty smartly. You have a much better chance so my new mantra That is even recalibrated. Is I think for a lot of startups especially in the price of space using conversational. Ai and I'll give you an example. One that I'm doing as As they co-ceo co-founder you have a great chance to do with no more than five million funding. You know get to five million in sales and you've kind of twenty five million you know exit strategy the executes more excellent so And I like the The the horse metal. I'M GONNA continue to go with that so go go at that. Yeah Yeah with your You've interacted with a lot of companies. And you know you talked about how you know you sort of continued to sharpen your own framework for how you evaluate them and think about them you know with what are some of the criteria that may be makes you think One start another is a secretary rather than a like another Mr Ed. Yeah so the number one criteria is is your team in fact V. CS put awaiting of seventy percent criteria on your team. Now the interesting thing about it is you know outside in rural areas. Like where you are. When you're not really rural but off the beaten path you know the big cities right where you have the preponderance I don't really get a lot of funding from I think the Silicon Valley Bloom is off the roads And there's a lot of fly over country areas You know wherever you have a university or it doesn't you know you've got a viable Ecosystem the springboard and But the key thing is recruiting the right team and I'll give you a tangible example rather than talking in the abstract so we're The timing I think is propitious. But we're standing up a pallet behavioral health offers a service called signal action a dot com and It's all targeted for a health care and human services for good now. Now we didn't really you know we have this thing going a few months ago before the club in nineteen but the feedback and the timing couldn't be better. Because you know the problems that are GONNA BE MANIFEST. So we're targeting substance use and abuse opioid addiction and then the other bucket is the mental health. Depression suicide for most people don't realize the enormity of the problem the economic impact of addiction and mental illness. You know globalise. Nearly trillion dollars a year two hundred people a day die from the audit diction One in five adults experience mental illness and mental health issues. And it's going to increase now because of the pandemic issues right. So that's GonNa bump up illit is it often includes children higher. I didn't believe this. The district one in six youth Eight sixteen seventeen is mental disorder. Depression now will be leading cause of disability. What we're trying to do is Is Address Through behavioral Using machine intelligence To help us overcome obstacle you know to leading the healthier happier less so conversational interface like do voice on and so forth is just one ingredient of that a new need the other ingredients that were Inner leading into the into the into the product mix that that happened to a patient behavioral pattern recognition empathy bidirectional patient interaction. The ability do a glean real time by the fine detection. You know have a semantic patient modeling component and then you know the the metrics on the trend analysis. You're importing so we're just in the early stages of standing up a proof of concept in May and and and then deploy and so the is after that get deployed an MVP worth earlier doctors. You know targeting rural hospitals and clinics because those are the underserved markets and we have a killer team so comes back to the team Very Lane as far as you know. The CO founders. But we have a really impressive list of advisors in in healthcare in in In patient experience In you know design strategy. So we're feeling pretty good about
"co ceo" Discussed on MAD MONEY W/ JIM CRAMER
"Great portfolio now. And we're just getting started with new combinations that polio and so I'm very confident with the combination of all the solutions. We not right now may customers maybe just one or two of our solutions in have the opportunity to take advantage of others and really now is the time Either OUR CUSTOMERS. No strings attached. Make sure that we bring the best That this is what we do. We cannot demand I. We bringing the sentiment. We help companies actively and a lot of times. We're not talking about these things because they were business. It seems more time late this. It's pretty well our good friend bill. Mcdermott your predecessor sale tells me that one thing. I should know about you. You're about as competitive as it comes. How's the competitive landscape? It's about time like this gym. Is it's really great to see companies coming together regardless of whether they compete. And that's what I love and that's the spirit I love and a time like this and that raises the best. Everybody individuals teams companies from a competitive perspective. We feel good about our time like this reminds us that our portfolio is very vast very rich sustainably relevant right. It's all business problems. This is something really proud refurnishes. The lot of the other technology companies are out today because after success from Laura. You got a great spirit. I thank you so much for coming on on mad money. It's great to meet you Jennifer Morgan co-ceo.
'Dark Towers' Chases Scandal-Ridden Institution Deutsche Bank
"David ensor joins us now. His new book is called Dark Towers. Deutsche Bank Donald Trump an epic tale of destruction it debuts this week at number two on the New York Times bestseller list and I also have to disclose that. David is my cousin in law and he eats all the pie Thanksgiving about his nonetheless. Welcome here on the PODCAST. Lobo I didn't know what you're going to get that person quickly. Yeah important. Why people to know Dave? Thanks for being here. That's revenue so we're not GonNa talk about that crime. We're GONNA talk about some other ones. This is a book about deutchebanks. Started off with reporting that you did beginning around two thousand fourteen. I was in London working at the time of the Wall Street Journal and I'd already been kind of obsessing about Deutsche Bank. Ps This is you know. One of the biggest banks in the world one of the most troubled institutions and involved is either at or near the center of just about every financial scandal under the Sun and then in January twenty fourteen one of the most senior executives at the bank and kind of the right hand man to the CEO at the time was found hanging in his apartment in lended. Who is he his name is? Bill Broke Smith and he was a guy who had worked at the bank on and off for almost twenty years and he had he was an expert in risk management in an expert in derivatives and he but more important he was the guy who turned to as kind of the ethical compass of the bank he was. He was known informally as the conscience of the place. He was someone who could say no. He was pretty conservative and he was not quite as hungry for short-term profits as most of his colleagues were and it's something that happened at the bank immediately precede his suicide and did he leave a suicide note like do. We know that this was tied to his work. Well I mean it's really hard and I think probably dangerous to try to make in light statement about why someone does something like this but he did leave a bunch of suicide notes including one to with his longtime colleague onto Jane who at the time was the CO CEO of the Bank. And so one thing that became clear over the years a report and I did and working to talk to his many friends and family members and former colleagues as I could was that. There's no doubt that at the time of his death. Deutsche Bank was very much on his mind in someone he knew his on his mind in a not in a good way he was very upset about some of the things that had transpired while he was there are before we get into some of the things that that he personally saw during the I guess the Early Twenty First Century you say that as of two thousand fourteen it was well established that Deutsche Bank was kind of troubled scandal-ridden institution I mean. How far does that date back? Well the bank is one hundred fifty years old this year. Happy Birthday Deutsche Bank and for the first several decades of its existence. This is just a pretty provincial. German and European lender helping big industrial companies like Siemens spread their wings internationally. But when the Nazis came to power in Germany in the thirties Deutsche Bank became a central part of their attempt to take over the world and this is not attempt to take the Nazi attempted takeover. Was that different from what other German banking institutions did. At the time Deutsche Bank was by far the biggest German bank. A lot of German companies to survive did what it took to arrive in that area which was helping the Nazis. But there's been an attempt by the bank and some historians I think in recent decades to kind of sanitize that basic fact by saying well. Everyone was doing it and that was just the way the world works and we can look back at this period now and say that Deutsche Bank was party to genocide. Wow most people who don't work in finance and don't report on finance look at these banks. They all kind of seem interchangeable and interchangeably bad. That every one of them or many of them have had one terrible scandal or another or many in recent years is a bank especially at I mean. Is there something about its culture? There are a lot of things that make it a specially bad. I mean first of all wallets true that just about every bank under the Sun has been attached to one or more financial scandals over the years. Don't you think really has been involved in a disproportionate number and it's faced disproportionate penalties. As a result of that you can look at that in terms of the number of criminal charges. The bank has faced around the world or the amount in fines that it's racked up the to me. The better measure of its destructive capacity is the havoc wreaked around the world. And you can really look in. Probably almost every continent of the world in see some major in pretty pretty bad scandal to the bank was involved with the cause real harm whether it's destroying companies or really messing up economies or being involved in major bribery or corruption scandals laundering money violating sanctions. Deutsche Bank is blamed by the families of some American soldiers for their deaths in Iraq because the bank was illegally funding Iranian terrorists. So you can say that about some things but you can't say about every bank that every single scandal comes right back to their doorstep in that unfortunately is the case. Allow the time with deutchebanks one of the things that differentiates Deutsche Bank for many other banks is that there is no villain at the top. They have no. Ceo Unlike many other banks is that part of the problem that there isn't one person who has held accountable. Well it actually used to be that way these days for the past fifteen years or so they have had a CEO. In fact you can trace the banks last series of problems going back to the mid two thousand to the decision to place increasing power in this unitary see It's gotten worse when they've had someone. Yeah although it got worse under Joe Ackerman who is the longtime CEO from two thousand to two thousand twelve. And he was the one who converted the organizational structure of the bank from being this kind of collaborative committee led approach to being one where there's an American style. Ceo At the top of the bank and Ackerman very shortly upon arriving as CEO of the bank made a very fateful decision which was that he decided that within a very short period of time a couple of years deutchebanks prophets needed to go up about five hundred percent and looking backwards. It doesn't seem that surprise and the consequences that followed that at the time. This marked a really transformational change within the bank. And it went from being an institution that looked around and kind of saw itself as serving multiple constituencies whether shareholders or customers employees or the communities. In which an operator and it went from doing that to having a single minded focus and obsession on maximising short-term profits basically consequences. Be Damned and when you talk about the recent crimes of DEUTCHEBANKS and we're not even getting to Donald Trump who is in your subtitle him later. Did most of those things manipulating markets helping terrorists regimes defrauding regulators. Did most of this take place during that two thousand and two to two thousand twelve period when he was the CEO will the got started. Then and that was Ackerman's decision to prioritize short-term profits above all else was the catalyst for all sorts of bad behavior within the bank and it wasn't just the people were rushing to make money at any cost and although they were doing that it was also that the bank at that moment because it was so obsessed with meeting quarterly profit targets. It stopped investing in things that cost money. For example they stop investing in technology. And so the banks internal computer systems became just this. Archaic jumbled mess and that sounds kind of technical and maybe not that important but the reality is immense that Deutsche Bank. If you if you were asked to say Deutsche Bank what how much money have you lent to say Russia? There's no easy way to answer that you can just type it into a computer. None of these computer systems are talking to each other. And that's a pretty scary thing for bank. And they also completely failed to invest in compliance an anti money laundering staff. And because those are things that cost money they're not going to produce revenue and in fact they they do the opposite prison revenue. They take away revenue as their job. If they're doing it properly is to say no to potentially problematic and potentially very lucrative transactions this focus on quarterly profits and profit above all else. Is that very different from what other banks were doing. During this period Deutsche Bank went from
Walt Disney Co. names Bob Chapek new CEO. Bob Iger to stay on as company executive chairman
"The bell the Walt Disney company naming Bob chip because it's new chief executive officer abruptly ending years of speculation over who will succeed Bob Eiger atop the world's largest entertainment company and salesforce dot com says Keith blockers stepped down as co CEO of salesforce Marc Benioff is now chairman and CEO of the
"co ceo" Discussed on Outcomes Rocket
"Improved outcomes and business success with today's most successful and inspiring healthcare leaders and influencers and now your host so Marquez. Welcome back to the outcomes rocketed. I have the privilege of hosting Dr John Sergeant. He's the CO founder and co CEO of broad reach. He's a globally recognized. INNOVATOR focused on developing fourth industrial revolution technologies to radically improve healthcare delivery and catalyze broader development sector Outcomes John also focuses on developing public private partnerships cultivating private sector participation with the development sector. John co-founded had broad reach in two thousand and three and serves as the co-ceo overseeing the development of technology enabled solutions for the consulting business. The main area they covers Africa and the insights that we could garner from how to reach this population access is a is a big problem in the the US but what the innovative solutions. They're conducting over there. What we can learn from them is huge? He was recognized by the World Economic Forum for the social entrepreneurs of the year in two thousand fifteen by frost and Sullivan with the Visionary Leadership Award in healthcare and by Debbie as one of the top forty under forty leaders in development comment. It's GonNa be an interesting conversation today. The applications are really impressive. And what we do with social determinants of health here in the states and so. I'm really thrilled to have John. PODCAST and John can thank you for joining us. Thanks so much we really appreciate your inviting broad reach onto your podcast in sharing our our story. Thanks so much to pleasure John so tell me what is it that got you into healthcare to begin with. Yeah you know I as a kid. I was always interested in science and medicine and sort of followed the classical premed route. And I'd say the first I think big shift in my life was when I was an Undergrad I had the opportunity to work in Sierra Leone. Sierra Leone is a country in west Africa and this was the summer of nineteen ninety two and it was devastated by civil war so I was working with the Red Cross if you remember number. The Leonardo DiCaprio movie blood diamonds based on on Sierra Leone at this time of the horrible civil war rebels would amputate people's arms and legs eggs and I worked in a really remote refugee camp called Cheboygan up and it was You know no running water. No electricity not enough doctors not enough nurses and you know really as a as a twenty year old undergrad sort of experiencing this outside of the US for the first time it just rocked my world. I mean it two things number one. It made me realize that there there was massive needs around the world and that if we could focus more resources and talent on public health in emerging markets we could make a big difference but the second thing was even though we couldn't get enough doctors and nurses. I could always get coca-cola and that was a crazy thing even in one thousand nine to at least ask the question. Well what is it that the private sector knows what do we. What can we learn from other industries to change public health and that was really for me the tipping point for my career? Why I think it's a it's so fascinating? How these early experiences experiences really tend to shape our careers and sounds like it really happened with you John and in a big way because now you guys are are focused in that area? I think it'd be good for the listeners. To better understand broad reach and the work that you guys can you give us a brief on that sure and just a shoutout to my co founder. Ernest Arco. He's my best friend from medical school and we've traveled his journey together. And we're still best friends after all these years now. So we are focused on improving improving access to health care for underserved populations. And that's that's a pretty bold statement and it's a really complex problem but at the end of the day it's it's a fundamental issue of economics. Demand outstripped supply. So you're always going to have more patients more need than you actually have money and resources and so our focus is how do we on the supply side. So how do we work with the providers doctors. The clinics. The government's had we make them more productive more effective effective so that they can do a lot more with what they have and impact more people and so it's evolved over sixteen years but it's you know we started out as a consulting firm specialized in this industry and public health. Doing things like helping the South African government with some of the HIV policy and strategy all the way to focusing on improving the performance of the clinics and training doctors and nurses today in two thousand nineteen. We've really infused a lot of technology and we Microsoft partner. We've got a platform called vantage that aggregate data and that minds data and it helps anyone working in a health system from the executive level down to individual clinic manager to understand. What are the priorities? They need to focus on that week whether they need to do. How do they perform last week and so really trying to focus their actions so that there are a lot more effective mother? And what is it that got you so intrigued by this area of care. Yeah I think it goes back and this is my first Aha moment working in Sierra Leone. What was it about the private sector and how to ask? Coca Cola organizers supply chain as marketing and it's sales but then the way we got started was earnest after fish medical school we both went into management consulting to quote unquote Learn Business Ernest McKinsey team. That was in Botswana so the world is waking up as a two thousand one world waking up this HIV crisis and Mackenzie was doing a strategy to help the government of Botswana Krupp National HIV treatment. Program I M and what became really clear in that work. Was that those folks working in public health doctors and nurses very competent very well trained. Folks don't have the training training in in business management and when you're running a national program at scale where you're treating hundreds of thousands of people you have to know supply chain you know. Hr Management Management. You have to have all these disciplines and that sort of all click together and we decided that we were you know stupidly GonNa quit our jobs and start broad reach to hang up a shingle and to help help governments and donors and NGOs and life sciences companies. Anybody who's delivering healthcare to those in need to really put together and run programs more effectively actively I love it so give an example of what you guys have done to create results whether it be improved outcomes or better business processes profitability facility. Share some nervous. Yeah sure so you know. Today broad reaches about a thousand employees. The bulk of the folks are based in sub Saharan Africa. Our vantage platform today is supporting programs. That are helping over two and a half million people on HIV treatment. That's roughly ten percent of the world's HIV population nation. Who are on treatment? It's doing a lot of great things but I think the one program love to highlight is in South Africa. We've had the privilege to work with one of the provinces provinces are like a state in the US we work with one of the provinces called Kazoo tall tall is really the epicenter of the world's HIV pandemic stomach. It has roughly three and a half million people who are thought to be HIV positive. And that's roughly ten percent of the world's HIV population and in that particular province about eleven million people they have about eight hundred sixty or seventy public sector clinics and hospitals. And so this is their number. KNBR one issue. I mean if if they don't saw this issue and everything else doesn't matter and so when we started working with them and this is really before the days of cloud computing Ai. The the biggest problem they had was trying to figure out what is actually happening across all eight hundred sixty clinics. How am I doing my budget? Am I getting as many people who need to be on treatment on treatment of my testing P- enough people in my keeping people adhering to their medicines. And so you can imagine doing this all by paper and reports that are free month's old doesn't work and so we're very fortunate to have been working with them funded by USA ID through the US. Government's pets our program that George Bush's started the far program President's Emergency Agency plan for AIDS Relief and that through that funding we were actually able to work with the government to install vantage to provide consulting services to radically change so today bay. No every single day. What's happening in all eight hundred sixty clinics as it relates to how many people were on treatment How many people were tested? We can look at which staff which clinics were more productive. which ones weren't so now? They can make decisions every day. And every week to reallocate resources and to boost performance. And it's been some of the outcomes. We look at in particular patient outcomes. We've been able to triple sort of adherence rates through a test. They call viral load testing the effectiveness demise of the treatment. You know we have helped the province get over a million people on HIV treatment. Obviously you know we're in the background and we're doing the consulting work and they're they're out there doing the the hard work but that's one particular shining example of the power of bringing productivity and A and consulting to improve healthcare performance. That's a great great example John as leaders listening to the podcast mainly us based thinking about what they're gonNa do to either tackle their problems their population health problems access problems or maybe an entrepreneur listening to this. That has a solution. You know you guys probably worked. I don't know I mean there's a gap between the two level. Said did you guys. What was the budget? Is it smaller than what somebody in the US would have to work within. San Is what you guys have done. translatable to help some of the access problems that we have in the US. Yeah definitely. Because I think a couple of things first I obviously the budgets are a lot smaller. Assume that right. So it's say in assessing the mother of invention right so when you're in these resource poor settings you have to figure out a way I think it's very translatable the US. I mean any healthcare system. You always have the same problem. You just don't have enough money and resources to do everything you WanNa to do. How do you be more effective and so for us you know? I think there's a couple things that I view leapfrog moments coming out of Africa that we can bring back into other markets. You know number number one because we have a shortage of doctors and nurses where we work and because most of them are so busy seeing patients the last thing they want to do is look at lots and lots of graphs and lots and lots of KPI indicators to try to figure out what to do and so that forced us to really do the hard work of taking all the data and then we use natural language generation Ai to basically translate it into very simple things. So if you're the minister of Health the country you'll get an email that the system generates it's automatically vantage automatically creates and tells you in very simple bullet points these three issues this week. You know. Likelihood of outbreak of Bulla on the border do X Y. And as you know second things third thing for thing all the way down to clinic managers it tells you what to focus on so I think the leapfrog moment is it's taking analytics to real life applications options and I think that's one of the big issues. I think the second thing is really then you can make the right decision. But there's no guarantee you can actually implement it and again if you identify that. A clinic not performing. Because they've got issues with their you know their pharmacy forecasting. How do you then implement an intervention to fix that and again I think the big learning that we've had is that you need to systematize it and you need to build best practice? Toolkit so that when you go into fix that that pharmacy's inventory management system there's eighteen step process and you can repeat it over and over and over again and I think a lot of those disciplines can be brought back into these other markets. I think that's really neat and my my mind goes to FQHC's right that are struggling to figure out a way to to give their communities what they need and efficiency problems it happen in these types of processes and systems that you guys have built abroad. I feel like we could really benefit from over here. Oh definitely and I think the difference in the US is that you have so much rich patient level data so a lot of the analytics and the focus has very much at the patient level. And I think what's forgotten. Because because we don't have the benefit of Hatton Africa so we've had to look at social determinants of health indicators and overall systems indicators you know what your length of stay how many patients agents are you seeing you know per number of doctors those sorts of things and so our approach is very much from top down. How's your system performing and I do think some of that is translatable over into the US and other developed markets fascinating? So you guys have done a lot and you've been working in that area now for how long a decade since two thousand and three so sixteen.
"co ceo" Discussed on Blazing Trails
"It's not. I mean if everything is important nothing is important now but choose same time where era of what our hierarchy is absolutely but we also need to move away from a Sam said everything trader because offense. It's not it either. All Its end route and I agree with you that trust has to be foundation because without it people want express themselves but then what does it lead to. What else does trust me into you? So for me and trust is really them understanding that we have infinite possibilities ahead of us both individually and a- and as a company all collective community and it also means recognising that who we are in the world no matter how Mayfield is less magnificent than who we are in our essence. That's and that is an incredible sense of trust and I think one of the most moving things in your book was the way you describe in detail how you made the decision Zeeshan to ask Keith. To Be Your co-ceo that is a very profound passage for any leader because very often what stops people from taking decisions that are best for themselves for the business for their biggest impact in the world is that lack of was trust in. What is their identity eve? Your entire identity was on the Sea of salesforce. You would not have ceded control to to someone who now reports to the board and not to you and that for me is key because I know far too many people who hate their jobs but they would never change they would never take the risk of changing because then they would lose the title of VP of this. Or that. Or say we all of this or that and yet if you look at our eulogies kind of a little bit obsessed with death because I think death teachers are so much much about how to live life and if you look at the hugest any any your book coming on here actually. I wrote that book. It's called thrive. So if you if you've been to a memorial recently and we all lost Bernard Tyson them whom we I loved. And who am I I I last saw at your time so quite a unity always makes clear. Ah that are linking. Values are not a eulogy values. Like have you ever been to Lincoln values like our I. Don't it means no we lovely values regime as are not our unity values. Like have you ever been to memorial and heard somebody. But he say Georgia's amazing he increased market share by one thing. I have heard that actually that must have been some awful eulogy on their heart. People focus on how how they made people feel what they did for the community. You know all sorts of other values so I love the idea of living our lives remembering linked to also leave a eulogy values. And that's why I love that in Rome you know the history carve. MLM MEMENTO MORI on trees and statues. I choose remember death and not that of morbidity but because it puts everything in perspective in life and as the on the on headline put it recently Ed death rate held steady at one hundred percent. Let me ask you about some some of those early books so you were working on these books but you did bridge into these historical books because that seemed to become interesting to you and that surprised me. I didn't understand that you had this depth of knowledge of history. So where where did that come from. An worded. That interest come from new well. I started economics and history at Cambridge and I always felt that we learn a lot from history. But you said something something really that I love in your book which is leaders need to be steeped in history and know how to project into the future but in order to do that effectively typically they need to learn to be in the present and I've always been obsessed with leadership and what do we learn from leaders and if you think of it it it has a lot to do with leaders are always a little bit ahead of this. I'd guys like they can tap into where the world is going and be a little bit ahead out of it and then when they're able to actually bring to the world what it needs. You did that to salesforce but you're also now doing a tweet. Helping people make balder decisions. and My mother to have an amazing mother who taught me to take risks because she made me unafraid of failure mhm afraid of are now going to take risks their stepmother.
"co ceo" Discussed on Blazing Trails
"You might know her as the founder of Huffpost or from her book on the Sleep Revolution or even from her focus on ending the stress and burnout epidemic with her company thrive global before we get to Arianna a word about wordpress. VIP WHO's making the show possible wordpress would press VIP is the digital publishing solution that powers the world's top media companies as well as marketing platforms for some of the best known brands. Like time and facebook doc later on in this episode you'll hear more of our conversation with their CEO. Nick Ernhert and now here's Arianna Huffington speaking with salesforce co-ceo L. Mark. Please welcome my good friend. Arianna Huffington the welcome..
"co ceo" Discussed on MAD MONEY W/ JIM CRAMER
"The healthcare space people flooding online line to make sure they've got the right plants and the thing is this is when our team is ready to help our customers deliver a flawless digital experience. We do that with the new relic platform all right. So what was your message today because I know that there are a lot of analysts have been saying Greece shoot screens shoots. Don't give up and I know my favorite slide. Our Priority Party is grow that's correct. Our priority is growth. And we've always had the long-term in mind when we've done it on your screen. You see the digital dashboard. I want you to scratch. That out is the digital digital platform. Jim Okay digital needs a platform not a dashboard and we spent two years building the new relic platform in anticipation of where. The market's going. Our customers customer want one platform to see everything going on to their digital business application performance infrastructure and most recently logged machine data. All in one place that got places new relic one which is the platform which the future companies are going to make their digital businesses successful. Okay if that's the case November fifth analysts who likes your stock BMO capital says this is for says longer disappointing. I supported billings growth in guidance. So it's very weak. Billions growth was one percent. Your ear sure that does not sound like well. We've been investing for the longterm building that platform Jim. It was an we anticipated where the work was going. And we did that. And while we're investing that we did that at the cost of papers no worries no worries. You know there were some short term things we might have done. We're not investing for the future but we think that when when this all plays out our platforms GonNa pay the dividend. Okay so now we go to your. CFO In corporate sector. You says in the conference call turn into cash flow from operations. Nine million free cashflows fun by cash from operations might as capital ventures and kept by software because native negative eight million. We can't do well. We're a growth company JIM. We're investing waiting for growth and so so as we built out the platform capabilities. We feel like that's what the market needs and our customers are telling us great things we think as we look out the unit they are great. We've got among the very highest gross margins of any SAS company so the unit economics are great as our customers adopt the platform. It'll show up in cash flow and and and And ultimately profitability. So can we say as some of the analysts like J. P. Morgan wants to save very much in a no from again from member second quarter signs signs of stabilization encouraged by some of the early commentary. I'd maybe cashflow guidance is going to get better from here. Well well I don't want to talk about anything different from what we've said already on our us so we feel good about our guidance but we do believe is that we have now delivered to platform platform. We have everything we need in place the products the platform and the field to be a billion dollar business. And now it's time to focus on a performance culture that you did push back your timetable table for. You're going to be a billion dollars. We still feel comfortable with being a billion in the timeframe that we've we've put out the twenty three that's right and and that's still a healthy growing business that'll have nice margins and there's plenty of upside from there. We were not looking to stop at a billion we worked on this platform. We started the platform. Where what does new relic? We need to be a four billion dollar business and so the platform is the underfund underpinnings that will support the growth beyond the billion dollar okay. So how's the churn. How's The upsell for those and number one hundred thousand dollars customers so yeah one of the things we're really focusing on we talked about in an investor? Today was that we have nine hundred customers today. That pay one hundred thousand dollars or more and when you look at that segment they retain very well they retain well north of ninety percent and they grow their spend better with thus the average customer that savings spends four hundred fifty thousand so our strategic goals we think about growing our business is to add to that number of customers we want to add a thousand of those customers over the course source of our journey to a billion dollars trying to understand your pricing if my retailer my my business website goes down in for sixteen and hours it could cost me ten million dollars. Why am I paying you well? Why can't I get relative? Make me pay more. Oh well we actually have many many customers spending far more than a million dollars with us. I think the last numbers we quoted was eight eighty customers plus spending a million or more on new relic. And I think our largest customer Marie is is around the ten million dollar. You're spending so we certainly have strategic value and now with our platform. We're making it. The natural thing to bet larger larger investments investments on. We just want to put that base of one hundred thousand dollars customers in place so that will sustain growth far beyond the billion dollars conference calls in the analysts. Meaning there's no there's no demand issue that isn't which of the Stockton and was just you had this transition azcarate less demand from you. Republics infamy relics product. I'm join UNICEF Luebbe. Her and meant for a long time. So you know here's where we are in the age of software right so we're GONNA software economy. I believe there's going to be more software written written in the next ten years and there's been written in the last fifty years turned fifty so in all my life there's been less software written in there will be the next decade we are well positioned to be the platform upon which people deliver more perfect software. If you look at the right timeframe if you look at the over the long term we believe were well positioned to sustain growth. Okay so what can we say about the new platform versus the digital dashboard. Did the salespeople understand it. There were questions about European sales people. There are questions about just need grigny. But who's selling what well as you transition from being an we started off as an application performance management company. Then we added these other products and what we decided to do which was as we believe visionary ahead of the market was put it onto a single platform that integrates those products together and and as we are doing that That has required our team to understand and evolve how they sell. We've gone through the training to help enable them to sell the platform and that's what we're focused on going into the rest of this the back half of this fiscal and it's the next fiscal. I should emphasize is your fifth anniversary. I think you had to take that next step. That billion all these twins issues. Here's our hard. Yes but you have your timetable. Twenty forty three. We're GONNA hold billion right and you feel confident we do. Look I decided investors in this platform. Because we've all heard of or read the innovators dilemma. Absolute get up. We need to get out ahead of that before. We had no choice choice in the matter so we invested ahead for that platform that came as some short term cost. But I've always managed the LONG-TERM I'm the largest shareholder in the company and so I'm thinking about new relic for five years from now and I'm excited with where I'm so glad you're here because you know I believe in you and I believe in your product and to see you in person. Have you say that means a great deal to US happy for jail. That's Lucerne is the pattern. CEO of new relic. It is the best software and they've got a brand new. Let's costs Ashworth. Let's.
"co ceo" Discussed on MAD MONEY W/ JIM CRAMER
"Adobe stock got hit over the summer but then last month they held a Bush analysts. Say the darn thing came back and now we're seeing the next leg of this rally after the close today report it terrific quarter and all I can say it is almost impossible to get this kind of growth both sales and earnings from a company the size. And that's why this roaring after hours trading I think has got more upside. Maybe a lot more upside as it is trading all time high this evening. So let's dig deeper with shots. He's the bankable chairman. CEO of Adobe Tower more about the quarter and where. It's headed Mr Ryan. Welcome back a man money. Thanks so much you Johnson look at these numbers surpassing eleven billion dollars. You've got growth a lot of people one point. We're worried that you could stay above twenty percent. You far exceeded that which are the big drivers to make it so that you have twenty four percent year. You'll grow. Well Jim I think. Most companies companies would be thrilled to have one growth initiative. That's actually paying off. And we have three whether it's unleashing creativity whether it's accelerating document productivity the over powering digital businesses as you know content is fueling the digital economy with the core of what's happening across all digital do and it's really great to be able to post the kind of numbers that we did when you first started talking to me. We talked about how everyone has a story to tell. How far along are we now? Al People are discovering they do have a story to tell and they can use you to tell it will digital media drew five hundred thirty nine million In terms of the net new our Jim and that's a record This is yours into the transition from the desktop to the cloud and Max was the most successful Max ever and it's because everyone has a story to tell whether you're K.. Through twelve student. Whether you're the largest enterprise in the world new media types are emerging new devices are emerging systems are emerging and so I think would just enabling anybody to take the creative ideas ideas that they have inside and express it across any medium at the same time. I am astonished that a business the document cloud is still growing light. Light go we'd deutchebanks Saudi Aramco Saudi Aramco came to you for for For help with the paper to digital everybody is trying to figure out how they can move to paperless society how they can expedite automating inefficient paper based processes there trillions of PDF's that are being in created every year Jim they're billions of people who are viewing PDF's and the way we have extended the format the way we've innovated across the desktop and mobile mobile the way we're making all of this available as embedded services in the API economy so that people can embed pdf within their business processes. That's fooling the growth. I think to your point for document cloud grew thirty one percent for the yoga discontinued to see acceleration in that business. And we just just continue to think that we've just started with respect to how PDF can help with moving inefficient processes to be automated and digital most companies. They want to go to giant enterprise someone to do small medium sized business. I am impressed once again. You use a term that I'm good incorporate steam not stam damn embassador the young age who even in the time we've been talking now ruling. The world talked me about steam. Well I think the world without arts Jim would be a very boring place. And if you're talking about you know people who are changing the world through corporate social initiatives. Everybody really has to make sure that when they are trying through social media to get a following to be able to tell their story to be connect emotionally with the customers. That's the kind of next generation creatives That we are attracting to the adobe creative cloud platform and it doesn't matter whether that platform is mobile applications whether that platform is youtube whether that platform is a social media platform whether it's instagram. We just want people pull to be able to use adobe products across every one of those different media types with new emerging things that are appearing whether it's augmented reality or virtual reality -ality in which you can actually enter their environment where the forefront of that technology as well. So we're not going to rest until every single individual has access to adobe technology. We are going to say that. Approximately twenty three million people now have access to adobe spark which is a very very simple and easy and intuitive way for people to be able to express themselves you have also become the gold standard on ECOMMERCE brilliant? Acquisitions I love the Go-to I always get marquette. You give them your name they kerr they correctly. Follow up but give us engage because your real time how is holiday season going there. Six fewer days. Well you know what was really interesting last week him. was that whether you were watching. CNBC in the morning whether you were listening to the radio radio whether you're reading the news it was so gratifying to see the Adobe holiday reports the digital index reports that are powered by what we are seeing being in dubs of the trillions of transactions that are happening across Adobe Analytics Adobe Commerce Cloud Magenta and Marchetto and I think what stood. No doubt for me was that every day virtually has been a record in terms of digital spend people are not just accessing websites now on mobile. They're actually transacting on mobile devices. there's billions of dollars being spent every day. We think that the entire shopping season is going to be over one hundred forty billion so it's nice to be at at the center of not just content but also data and providing insights to customers so they can engage digitally with consumers. Are you able to. How much are you able to keep track of some of the great Chinese companies and give them the trade wars at a problem for the most part you know? We are a global company. We do have our products available will in China's well Jim. Whether it's a multinational company wants to have a consumer presence in China so the trade wars I mean you know we're all you for Making sure that economic boundaries don't exist and that people can conduct trade fairly but we have so much opportunity we we are not overly concerned with what's happening in China and the trade war specifically right now. I want to give you a chance because every time you come on you've got something new indifferent exciting adding fresco. Well you know. I always said Jim that I think it's crazy. That in this day and age people think the drawing with a mouse. This makes intuitive sense. Fresco is one of these new applications. Just like what we did for imaging with Photoshop where we made photoshop accessible in the digital era for billions of people and democratize imaging. We think the same thing should happen for art work and illustration and so when you look at Fresco and look at the attention to detail that are incredible engineers have done. Whether it's with oil paints or watercolors fresco is just a new breed of application. That's appropriate for a tablet device. It takes into account what you can do with stylus again way of just making sure that we can leverage the incredible work that companies like Nvidia and others are doing with respect to hardware improvements. What's going to happen with four G. Five G. so that this can all become accessible? How do we think about that with adobe sensation with magic and make it accessible to a new generation of creative? I want to congratulate you. I know there were people who mistakenly St Louis and I would say stupidly. But I'm gentleman felt that you were going to go to nineteen or eighteen percent. I knew you were going to go the other way. Because you have such fabulous pilots.
"co ceo" Discussed on MAD MONEY W/ JIM CRAMER
"Sales. Plus they point out that the tariffs could raise the cost of an iphone. Here by sixty seven smackers. Aw outpost down more than two bucks the president. I did that tweet. That made people feel better about stocks stock closed in the black. And you know what that says to me. It says so much for trading not owning apple own apple. I mean even today okay this still keep status quo for apple. We're here maybe give you an exclusive sales over there versus what the Credit Suisse note says hence the rally into the clothes. I've been adamantly should have some five G. Internet of things exposure with the deal looking looking very likely you know what you want to own. Yeah my dog who's got some sort of chemical off it's kind of the gnawing hope he does okay. Because the Chinese regulars there's will finally perhaps let them acquire Mellon offs Israeli company that should be immediately added to earnings. If he can close the everyone's going to get so excited we'll be bulled up. I also think the more tricia five jewelry and chipmakers will work. Even though they're up lots sky works CORVO qualcomm. I'm focusing on more bell tankers. It's still not. It's fifty two week because I am a big fan of amd but it ran too much today in anticipation of so one. More manufacturing problem at Intel and also some very high speed new products that leads to sue put out and it anticipation of delays of Intel. Own Intel all right now after the Bell broadcom reported. I thought it was good quarterback important. They gave a big boost. And that works to go by. Fractional shares is three hundred bucks. What else I think giveaway are wagering too much the traditional cycles here in that means you've got to be thinking about Caterpillar Honeywell or comments? Sure their numbers might go up if the worst really any but I don't go crazy them. Hey Hey look I'd love to recommend Boeing just fixed the seven thirty seven Max. Unfortunately it doesn't seem like he can't so these shelter sympathies. We have to be careful because numbers can still come down but you know what really catch are. Even though it may be shouldn't energy. I think the machines that control so much of the day to day action are set to buy energy stocks on any news. I think I know this to be a fact I do think I discover these slumber J.. Probably best in show Chevron did well today Exxon down and out BP those traits Caterpillar Cummins. Don't overstay your welcome with any of these now. Let's Real Dan. Let's get exciting. Let's go to Hasbro Mattel. They've been trying to shift their source away from China tells me a lot more progress than Hasbro mattel. CEO on the bow stock surged on the news. I think that they've got more room to room when we talk to the. CEO of Hasbro Mattel. We were very conscious that this weekend's tariffs we're going to hurt them in there really in the qualifiers. Well guess what if we do delay or scrap December. These are going to be to stocks that you can still own and buy mattel here. I think he could go much higher. Because otherwise price the prices for the choice would be pro hit. It's not just towards the whole retail. Cohorts been a winner here. What is the one that has been hurt? The most dollar tree it's been hobbled by the trade. Trey were upside home. Depot's been trashed some of its self inflicted upside Walmart and target they work. They spent a lot of money in China. The best thing about these retail stocks. There's not a lot of upside built into them already. They some attractive on the other hand. That's talk trades macy's and Kohl's with macy's I think yes MR probably too to high tariffs get rolled back. Kohl's these seem more momentum from that Amazon Partnership Return Grams per person at their stores. These work only so far as you can throw throw them best. Buy and footlocker. Have the most exposure to this. Weekend's computer footwear tariff hikes that are now being put on hold perhaps best buy header triplet quarter. Footlocker did not not best buy investment footlocker trade Nike never in trouble still some shortsellers betting because China exposure they would miss sneaker kingpin reports snake's weak investment. Just like ninety starbucks never really in trouble with China. I'd like this story. Ever since the Kevin Johnson came busted. US Air Force Academy pulled US back up the truck at eighty one dollars investment. Not a trade trait Las Vegas sands the the US presence in Macau Chinese gambling haven and spent four point seven percent yield winner winner casino dinner. How about Transports Fedex Trade Rohr today? The hurt by China numbers are probably too high. It can get a bats investment union pacific the most China exposure in doing a lot to buy back stock and cleanup operations. Probably some eyeballs waste management. You so a lot of garbage to China believe it or not they were. Hey stock did nothing. Today I liked that Stanley Black and decker source a lot of stuff from China. That's why the stock was up five percent today. It's worth worth noting by the way the president's got the polls he met with the CEO of Stanley C of comments and stay in CEO of Union. Pacific we've gotta find whose team you buy the stocks. Now that's a joke doc. All that said I still think the best way to better trade deals by presume. Something's wrong even if your tastes encouraging developments why these despite this tentative agreement from China I expect him to renege talk is cheap transform your legal system your economies expensive so next week I'm going to go back to a race scheduled program and start talking again about socks nothing to do with the trade war but I know people have been demanding this list. I read by twitter feed and other than a couple of knuckles really despise me which one and the guys who despise despise me. Know why you can't stay away from anyway the bottom now you know what works now. You know what's going to happen. I just remember please. These are mostly short. Term Trades off investments. And we're going to go back next week to the hundreds of stocks that have little no relationship they should trade war or the trade truce was with the lead trading apple. I mean fine but trading apple supposed to make noise okay anyway. Let's go to Mike in Florida. Mike Mike Mike. Hey I'm doing well. I'm blessing the people. Say Trade Apple. Do you mind how about those people how they cost you. I have a question.
"co ceo" Discussed on MAD MONEY W/ JIM CRAMER
"Eight hundred three. CBC or Tweet. Jim Cramer. How does this movie before we hear that? The president and the Chinese government reached a tentative phase. One deal delay new tariffs maybe even rollback and of course the market source the Dow Gaining Two hundred twenty one points as becoming point eight six percent. The Nasdaq forty point. Seven three percent. What do we say Alleluia immediate trivialize the importance of this news? It does matter it absolutely matters. The president trump trump's don trump stock trump's the be willing to reduce the tariffs on three hundred sixty billion dollars worth of Chinese goods by as much as fifty percent that some of the chatter or also canceling forestalling the tariff hikes. That we're supposed to go into effect this weekend weekend. They wanted affect consumers China's apparently willing to make some major agriculture purchases while doing a better job of enforcing US intellectual property rights and maybe opening up the market specifically to the services and especially the financial services industry. And that's a big deal but and this is the world's biggest but the days went to China to control. The fate of the whole stock market are long. Gone even as we act as if it is all that matters. It did seem that way at one time because was initially. The market reacted the taxes that were going to cause a worldwide recession. This whole deal or no deal. Game seemed a lot more significant than now though. The trade war has only escalated plated yet. Our economy is fabulous shape. Our stock market keeps urgent. You records and job growth is extraordinary at this point this phase one deal with China. Let's call the icing on the cake. Even before through the cake. Still Pretty Darn good and if we get something signed it could even be better. But as I'm about to go through it it's just a small part of the S. S. and P. Five hundred. That's why one explain what's actually at stake with this phase one trade deal we heard about all day and how we can potentially profit from it because then again it's not mad. Politics is not mad. China it's mad money I let's be clear. What do we get in exchange for trump agreeing to roll back some of the towers and hold off on others others? What's a player? What can go right? Well it's an agreement that I seriously benefit some major institutions. At least that's what it sounds like me. And you're looking at them. Shaping Citigroup Goldman Sachs Bank of America. Mercury's best mastercard and visa if everything goes right to the. US This tendency would let them establish a strong China and they'll finally be able maybe even to compete directly against Chinese operators rather than being forced into partnerships with them where they would steal all the intellectual property and perhaps even my bank account okay. The officials have warned here. But I think they're still worth buying even J. P. Morgan which is the most extended that stock has had a big move. You know what I like murky spent the most on this because it China deal. We'll get an enormous cachet of the People's Republic. I'm just looking at the pastiche and deciding that this is the one that the like the best. Buy Second favourite will be Goldman Sachs ax which needs to get some growth. You're trying to provide it. Visa and mastercard could easily were upside in the CEOS time and again the old days told me if only China would really let us in what they do look out above again. All these talks are excellent and even if the deal falls through the evaluations are not bad so other than for this one and I had like him in chapter zones that you can handle any any deal breaks down and still do okay. I have to say that because think about what's going on the second echelon is tech this morning. We got a very discouraging though from credits about possible. Thirty five percent drop in Chinese iphone.
Salesforce earnings beat on strong subscription growth
"Couple of weeks ago. went out to San Francisco for SALESFORCE DOT COM and you'll dream force conference and the COP kingpin told us a great story. That's that's one reason. Stocks been such a terrific performer. But then tonight salesforce supporter generally strong quarter with one piece of hair on it Company earned seventy five cents a share and also want to look for sixty seven. Sales came in higher expected gross margins much better than doing excellent however measurements revenue forecast for next year came in a bit light. Same with the Ernie's bid something. I warn warn you could happen and that was enough to send this down in. After hours as I predicted I think is a classic under promise over deliver from a company with a phenomenal track record. Give him some benefit the NFL doubt given how much stock and run into the quarter. People wanted perfection. The thing is while it wasn't perfect was pretty close in the long-term focuses amazingly strong. Don't take it for me. Let's keep with Keith Keith. Block the coast. CEO OF SALESFORCE DOT COM to get a better read on the quarter Mr Block. Welcome back to man finding great to be here with you all right so we got this usual. I dichotomy economy. At first it was a complete blowout quarter. I mean much much better than expected. Seventy five versus sixty six cents. So why don't you give us some of the components of where you really hit it home home which in the verticals and also says we're out there last week. How much are the new things like on the voice Einstein that we thought that was so exciting? Well Jim it was a terrific quarter four and a half billion dollars in revenue at thirty four percent growth. We've guy to seventeen billion for this year which is absolutely amazing and a dream dream for us and you know you were there so it was a super exciting time. We said that we would double the company again in the next four years over thirty four billion. So it's certainly an exciting being time with what's going on in a lot of this is really being powered by digital transformation and we see digital transformation all over the world in every segment in every industry in every geography just to give you an example. This is a great conversation with the CEO of one of the largest industrial manufacturers in the world. Just last week before Thanksgiving and we were talking about how organizations have grown up traditionally over time. And you think about kind of an inside out product inside to out up-market mentality and it creates organizational silos data silos technology silos cultural silos business model silos and in our conversation. We were talking about the power of digital transformation. And what does that really mean. Because it's all about the customer now and so we want to be able to take these customers customer that were advising and talk to them about turning this from an outside in view customer first all the way back from the experience to the supply chain and that is the importance of digital transformation now the digital transfer. Yeah go ahead. Yeah I did want to know who is transforming in a large way. The reason I say that is because the last time mark has been on in the conference call he said Jim in the biggest transformers are and then he gives us these gigantic eight nine figure wins but I never get to ask me about it where some people were realizing eight nine figure deals who need this transformation. Well there's a lot of transformation going on in world and again this digital transformation is really based on three legs. The first one is technology and that is lifting shift in its infrastructure. And how do you take advantage of that technology. The second in is really about cultural. Change and organizational change what are the workforce implications. How'd you skill the workforce and the third is the business model change? What do you actually going to do to take something and turn that model from customer experience? All the way back to that supply chain and it's very very important and you know when you think about these great wins that we've had in the a quarter and there are so many great wins you think about companies or organizations like the Veterans Administration. This is one that is near and dear to my heart so this is an organization that is now one of our top customers customers and we're helping them fulfill their mission which is very important taking care of these veterans who have served us and now this is an opportunity to serve them. So that's another exciting opportunity that we've taken advantage of. I WANNA be a little too granular here. Maybe you could argue but people were saying that for next quarter you really guiding you've been guiding sixty two and now your guiding down to fifty four fifty five now. This is the kind of nonsense I've seen with salesforce so many times right before gigantic breakout so I need to know. was there any Delta actuality in this quarter that made it so you gotta down the next quarter. What you're supposed Jim? Is You know we've got a very strong track record where the fastest fastest growing enterprise software company at our size and scale. You know we're doubling the company in the next four years we've guided to seventeen billion so there's a lot of great opportunity. Digital transformation is everywhere and that's why companies are coming to us as their trusted adviser and it's very exciting time to be in the market is good and I know you've got that long term view but I am very specifically about this next quarter which is what sending the stock down from being one sixty four down to one fifty nine. I do not want to miss. Read our viewers. That's because I myself. Jim Cramer have drunk the Kool later. salesforce and only care about the next five years then I suck and I don't so I want to know if there's anything going on here that I should know now Gemlik we've had. We had a great headquarter. We have a lot of success. Our business look strong in the fourth quarter. It looks good for next year. And we're in a great position to advise these customers and that's what we see every day. Okay so you buy I tableau. I read this week. This article said these guys have become the ultimate roll out by Mule saw they buy e t they by. Now they're buying buying this tableau they just keep buying buying because they don't have any natural source of growth and all they try to do is raise price now. This is the new knock on salesforce. I did not. Let's see any of that extreme force but I'm giving you the new knock. Well let me tell you about our innovation and some of the things that were very excited about that happened to dream force. So we've been talking talking about the customer three sixty and the importance of providing that three hundred and sixty single source of truth which has been the holy grail in our entire industry. We've been talking about about this for thirty plus years and now sales forces in a position to do there's nobody else in the industry can do. This only sales were able to do that. That's why companies are coming back To salesforce they want to advise they want our advice. They want us to play that role of trusted
The big problem for small business? Finding qualified people to hire
"Start today. Exploring feelings specifically how small business owners are feeling about the economy. They had a more positive. Take on the future Chur in October compared to September. That's according to a monthly survey from the National Federation of Independent Business responded said they are making capital investments and raising raising employee. Pay or at least planning to but their number one challenge finding qualified people to hire marketplace's Sabrina Benesch or has more on. That things are looking up at clean choice energy that we're hearing really optimistic about Where every now and the next eighteen months or more more Kate Kohler is chief staff at clean choice? It offers renewable energy sources. The company has thirty percent more employees than it did last year but she still has a dozen in positions to fill it is really the stiff competition and the candidates were interviewing or intervene at other firms is well nearly a quarter of businesses in the survey said. Their top concern was finding qualified. People either to grow the business or even just to maintain it. According to Joe Galvin Chief Research Officer for Advisory Advisory Firm Vestige. Chances Are you're higher replace. Some of you left your organization to go somewhere else to attract people clean choice. Energy is focusing on its green ethos off Every organization able to offer thirty percent of small firms said Dave increased compensation to attract workers Rebecca Hamilton co-ceo of WS Badger. It makes organic skincare products. She says the companies increased pay and benefits. We have an in house daycare center so we have flexible. WHOA hours? You know the onsite gym say Yoga classes on say Akito the NF Ibiza. Small businesses are paying for higher compensation with higher sales in savings things. Joseph Bruce Willis chief economist with consulting firm. RSM isn't sure sustainable. They're willing to offer more compensation but attended today. Were likely not to because of they slowing economy and a contraction and probably Bernie trains in other words. Small businesses can afford to fight over talent as long as consumers. Keep buying in New York. I'm Sabrina sure for
Chinese cryptomining giant Bitmain’s civil war breaks into open
"Last week and actually for this whole past week. There's been a fair bit of drama. At bitcoin. Mining giant. Bit mean what happened well. So long story sure it was a it was a coup so From October twenty seven to thirty years there was a video surveillance camera. Expo in engine and my colleague John He was the he's the CO founder will be man and he was was ad expo. It was their launch some kind of a chip from Yemen for video surveillance cameras and then one day after that Jihan on the after that there was a change of the business registration data of Of Beijing Technology. Okay so in that restriction change microbes no longer the executive director will be man. He's he was also so taken over by Jehan as a legal representative an hour that Japan will who is also the other co whole funder of demand so a couple of hours after that change Japan will send an email to all staff to be man. I'm employee's employees saying Michael giants basically dismissed off. All his roles have been men and any employees. You should not engage with anymore and it should not take any directions for him so basically shut him down and that was basically it an hour after the email. Hey Japan will submit Someone all this stuff to your own hands meeting meeting to tell everybody what happened. So that was what happened on last Tuesday and on today one week off to Dad Meiklejohn finally spoke on his. What we share way ball and said is going to take some legal action to return to the office Irene? So let's go a little bit into that stuff meeting. What was the backstory that Jihad gave to explain or justify his actions while so that was kind of like a shock to many employees? Because I guess not. Many people have seen a word like expecting that so he took that opportunity to explain to everybody what happened in why he had to come back. And why he they had to take such actions and he basically use the one hour meeting to explain what happened from December twenty eight eighteen when when when the kind of conflict has started between him and my crew John Yet that was that was pretty much all of the one hour meeting. And what was that conflict. So the backstory of the December twenty eight eighteen was that at that point. The Big Quin price was like a was a big big price crash and was thinking about layoff so Jihai in a couple of family. Members of the company was were like pushing for the plan to lay off employee's because at that time I think they may have about juicers people initially based on what John said in the meeting was micro. John was AH was against the plan so they had a big struggle on December. Seventeen Jihan says on that day Meikeljohn returned to the office called for a second meeting and on that meeting. He wanted to be the socio. So as of as of December last year Japan and micro were co CEOS in CO chairman of women so he said on that that day micro Office wanted to become the only CEO. He said that is the way to save the company so that that was what happened at that time. So there was a conflict of Should have a layoff but then they come to agreement that there should be lay off and they also come to agreement that they both will step down from cozy ethos and they will ask the second other person to on the new. CEO role and they will step down from the day to day management. So that was the conflict back then the as time moves on like bay. Men official announces announced that news in March of their stepping down to the public to Hong Kong. IPO failed But what John said was MICR didn't really stepped out from the management role. He's still kind of micromanaging the details and wanted to spend more efforts on AI. Stuff instead of the crypto mining equipment. So that kind of that kind of diversed I Big Business a little bit. So that kind of started the the conflict started to escalate one. Other thing is I think Jihan also said to the employees bit mean almost didn't survive that period and actually what he said is the only only reason it was able to pull through was at the price of Bitcoin had increased later. I'm assuming he's talking about kind of you know through the Spring and And even a bit. The summer we saw the price of acquaint increase but how has bitten means struggled this year in twenty nineteen still. I sing in twenty nineteen. I mean he said himself in the meeting. Based on the transcript. I got that The market share big demands mining equipment has declined. I mean I think they're still the number. One has the most dominant market share in terms of making mining mining machines but their market dominance has declined and the same time there Wi- will competitors like non. And what's minors Microbe eighteen silicon. They have been able to seize on the opportunity of the price of press jump since earlier this year. So I mean there. I think they are doing during fine. But in terms of market share the mining equipment business has decline and also the mining pool business is also Declining if you look at the hash rate. real-time Hasher Distribution Bution Pity comment pull used to dominate the top two ranks but this year it was taken by pulling and after Paul. Yeah and one other thing that is just so curious is that at least last year Macri was chairman and and he owned thirty six percent of bit main holdings while Jihad actually owned only twenty percent. So how jeon able to oust macree. If Macri was the larger chair holder and I mean it was pretty dramatic. The way he did it I think you know not allowing him back in the building after this trip and having his email access over to cut off it was like this was a huge surprise to macri. I guess we could say yeah. That's also one question I I haven't been able to figure out to be honest if you look at the IPO prospect the file till the Hong Kong Stock Exchange last year as September last year. They they were coached. CEO's co-chairman Mike crease. You're right micro has about six thirty. Six percent of Commit Holdings John has about twenty percent and go Shin on the two two your three other family members they have four to six percent respectively and another eighteen percent was hold was. Hello Oh by a trust for the employment stock option incentive that was the all the ordinary shares that counts for bowel like nearly ninety percent. I think and all the others like nearly ten percent were held by external uh shareholders. Now there were basically preferred. AM prefer b-shares Through the equity raising commended in two thousand seventeen twenty eighteen so technically I don't know how he managed to do it but that's just give you the breakdown of their equity structure based on the IPO. Filing they last year I don't know if they have changed it in any way but uh what John said in the in the in the in the meeting was he stepped Opposed as Costa Ios. He also stepped on he. He also let Microsoft take the chairman row so supposedly he was not a chairman and now he is a chairman. So I don't I don't technically the holiday did it was somehow did yeah. I saw dovey one tweeting that she she doesn't think a- and Samson Maui. I think tweeted the same thing that it doesn't appear that the shareholders were consulted the other shareholders. So yes so. Maybe we'll find this out leader
"co ceo" Discussed on The Playbook
"A structure from from day one where we actually had a vesting schedule even before we started started the business <hes> between the four of us so that if one or more of us wanted to go do something else <hes> they weren't excited by this or they found something else that was more exciting adding to them that they would get credit for time served and we wouldn't have to decide when someone was leaving of how much value they had contributed because everyone always has kind of warped view of the on their own value. I'm into your career establish a framework upfront <hes> to determine that <hes> and and then just kind of have open open dialogue we started having three hundred sixty degree feedback sessions from day one even just the four of us we'd go to our favorite bar and can put one of us in the hot seat and talk about the things that were going well the things that weren't going well how when someone kind of wrote a four page email at two a._m. About something that you know as my responsibility that creates a defensive reaction and talk about norms in how we could work well together and so trying to be really thoughtful about that from day one i helped set the foundation for a successful company and also kind of successful friendships yeah. It sounds like you had great alignment before you started in kind of prepared for adjustment which is extraordinary with all so with so many partners. Here's everyone has their strengths and weaknesses and say in a weakness in one situation is a strength in another. You have your superpowers. How was it luck or did you have to put people into a certain position where their strengths were exploited because i can't imagine you all how the exact axioms drinks yeah so you initially all four of us were working on everything at the same time <hes> and we're all interested in everything and realized that that was the recipe for disaster and recipe for us not to get anything done <hes> so we ended up <hes> dividing and conquering while we're in school and then when we were graduating realized that it wasn't gonna make sense as for all four of us to kind of stay on and run the business until it had a bunch of conversations around <hes> whether it was kind of one or two of us that would make sense and and neil and i ended up staying onto to run the business all four of us are still in the board and <hes> jeff and andy had gone onto a two run very successful enterprises on their own <hes> but yeah i think neil ni- were particularly good complements to each other in terms of <hes> of style in our in our way of thinking where neil is much more of a kind of a extroverted cheerleader and wants to make really quick decisions regions and enact and it's really excited about new concepts and just one sacked on and i'm a bit more <hes> yoko okay logical step wise thinker on ask a bunch of questions gather information make sure that we have sufficient information to be making that decision and looking before are we leap into <hes> we tend to be really good complements to each other and i'd allows us to move quickly but thoughtfully and also having two of us. That's where we're co-ceo which is a bit of an unusual structure right which i think is a lot of communication collaboration and so as we built the organization we now have over the two thousand employees we've ensured that kind of providing feedback <hes> both formally informally and collaborating and coordinating knitting efforts within the business is a core asset and a core competency that has led to our success and allows us to to move move quickly but at thoughtfully as as the business scales one of the more interesting things to about your businesses being an entrepreneur is i get a ton of people that come i'm up with these great ideas and i'll always hey that's terrific but how are you gonna make money. <hes> what's interesting is your business model was really simple cool to start right you literally saw problem and had it yourself and then you being more interested than interesting you saw wow this huge margins that can be made because they're making too big of margins right now and that's simplicity obviously has unraveled into thousands of employees and it's going to get bigger and better because is your accelerated. I'm looking glasses right now. Going those the nicest pair of glasses ever seen in my eyes weren't so good. I just buy them to wear them <hes> do do you recommend that type of straightforward simple business model if you if you're going to start a business you have to know beforehand amirah scientists or is there a great business model for a great idea but closed clothes idea. Where do you fall on that spectrum <hes> <hes> yeah i think there's you know all all types of different businesses <hes> <hes> yeah that can be successful. <hes> you know for us and in the businesses that i've seen in invested in advised a bunch of startups i think <hes> the the best businesses solve real problems and oftentimes uh-huh those are problems that the founder experiences themselves so they really understand that problem and they can design a solution that that makes sense for them as the customer customer and that was certainly the case with us at parker where <hes> we felt kind of paying ourselves as consumers we looked at an industry that didn't make sense and we also asked why why why why does the world look the way it does today and and <hes> is there. It's something that would unlock a new business model for us. That was kind of the power of the internet where <hes> tried to start in eyewear brand <hes> twenty years ago oh without the ability to sell directly to consumers we would have had sell through lenscrafters through pearle vision through sunglass hut through these stores or is that are owned by the world's largest <hes>. I were a company <hes> and we wouldn't have been able to control their own distribution. We wouldn't have been able to control their own margins and so we would have had to charge kind of high prices and <hes> but we looked at a bunch of other categories that are being disrupted by e commerce and internet. <hes> eyeglasses hadn't been one yet so less than one percent of glasses were sold online at the time and we asked ourselves. Does this have to be that way or can we create a better experience with better pricing using kylie's new technologies and so for us. I think having a really good understanding of the problem <hes> be able to lay out the economics in a way that <hes> made it clear that we could make money if this was successful and then going out to prove you. Is there customer demand for this <hes> we we thought kind of every step along the way how can we de risk <hes> this <hes> this business problem and and that started off by surveying our customer surveying potential customers friends family members <hes> mocking up a website to see if people would be willing you too bye glasses online and none of us knew how to code so <hes> we had been an financing consulting so new powerpoint really well we mopped up a bunch of have fake <hes> <hes> web pages in powerpoint printed them out on paper would go to starbucks and offer to buy stranger a cup of coffee the if they would <hes> you know look at the stack of paper pretends <hes> the first page is the homepage kind of where would you click on this point somewhere and then we'd shuffle through and put another paper paper in front of them <hes> just to generate learnings and <hes> figure out <hes> are would be willing to shop this way. Would they be willing to buy a pair of glasses asses if they cost seventy five dollars ninety five dollars because one hundred fifty dollars and kind of <hes> what what are the kind of the key areas that <hes> we need kind of key questions we need to ask before we wanna commit our life savings to this business. You've done such it's an extra great job at it last question obviously a problem solver extremely detailed. You be my first choice business partners because your strengths compliment. My weakness is incredibly. What's the next big problem that you're gonna solve. Its <hes> continue to be really motivated debated by <hes> helping to provide <hes> vision for all <hes> and and we think about that in a few different ways so one is just by providing thing <hes> beautiful glasses for much better price point in a very convenient manner whether that's online or offline so we started <hes> by sunglasses online we still have a really large and growing ecommerce business we compliment that with over one hundred stores across the country <hes> but we also recognize that there are close to a billion people around the globe that don't have <hes> that need glasses that don't have access to them that can't afford ninety five dollar glasses <hes> and so we work with <hes> nonprofit partners owners. We have a bypass. Give a pair program where for every pair of glasses we sell we on the distribution of a pair of glasses to someone in need around the world and we work with great partners like vision sprang were used to work <hes> and through that program. We've distributed well over five million pairs of glasses to people in need <hes> and more recently. We've kicked off program called pupils project here in the u._s. <hes> where we're going into schools providing free vision screens and free eye exams and a student that needs pair of glasses were offering them for free <hes> and we have a public private partnership set up in new york city and in baltimore where where in new york we're going in <hes> screening every kindergartner and first grader in public schools <hes> they're one point one million students in new york city public schools we estimate two hundred thousand of them glasses and don't wear them and these kids don't have a fair chance at at staying up to <hes> staying on track at school they don't have a fair chance at at graduating and getting jobs and filling their full potential and so <hes> we're super excited <hes> to <hes> kind of be kicking off these programs scaling them <hes> and hopefully i'm impacting. Millions of people's lives across the globe. That's awesome. You touch me with that. I always say i don't really invest in companies anymore. Invest in people and many entrepreneurs are watching out there. He had every single check box there. There is a type of entrepreneurs invest in <hes>. There's no doubt in my mind is i evaluate. Companies that are parker is going to continue the hockey stick. What an incredible leader. You are <hes> dave gilboa c._e._o. Of wabi parker here on entrepreneurs the playbook by hope hope you enjoyed this week's episode of the playbook as much as me on a personal note. I just wanted to thank everyone for making the playbook such a success. Don't forget to continue it by sharing subscribing. I being and listening to your favorite episodes this day meltzer with the playbook..
"co ceo" Discussed on The Playbook
"On this episode of the playbook i have the co founder of worby parker dave gilboa and he's gonna tell us how losing a pair of glasses turned into a multibillion a billion dollar company and furthermore how to find a partner in if you should have a partner. This is entrepreneurs the playbook each week. I bring you some of the greatest just athletes celebrities and onto to talk about their personal and professional playbook to success in what made them champions on the field and in the boardroom. I'm your host and c._e._o. Of sports marketing david meltzer this day meltzer with entrepreneurs nor is the playbook and i have another day with me. It is dave gilboa with barbie parker the c._e._o. Welcome to the playbook. Thanks for having me on well. You know you and i was is looking to have similar backgrounds except berkeley rejected me and accepted you and when you apply to a lot harder to get into as well <hes> my business partner lee steinberg emberg early in my career was a huge berkeley and there's definitely a different energy about going to school like that especially when you went being up in the silicon o'connor valley and in the competitive state was stanford trying to figure out what real high net wealth is worth. Where did the lessons to be such a great entrepreneur. Come come from was it pre berkeley berkeley or post berkeley. I think probably starts with my parents and actually went. I went. I went to berkeley. I had no interest in business. <hes> both my the parents are doctors. I was one hundred percent sure. I was going to become a doctor growing up as a kid. I was just trying to decide which kind of doctor went to berkeley was a bio engineering major ager to call the pre med classes took them cat and was kind of all set to following that path around that time there were a lot of changes to the healthcare industry three h ammos we're starting to take over large parts of industry and talking to my parents and their friends who are doctors a lot of them were kept complaining and wishing for the good old days and talking about bureaucracy and the system and for the first time started thinking about well. Maybe there are some other paths in life but the the values that my parents instilled in me was that you should use your job as a as a way to make the world better and and i always thought that kind of being a doctor was one way to do that but then berkeley kind of opened my eyes to two other paths and particularly some of my friends that were going into business and realize is that <hes> maybe learning something about business could allow me to one day help lead an organization that had positive impact on on people's lives and there was kind of southern path path and really only taking engineering classes but talking to my friends we're going into investment banks or consulting firms realized that those firms were willing into higher <hes> just kind of young smart people and help train them and so <hes> ended up going to debate and company strategy consulting firm as my first job out of college and <hes> in in there i learned a lot and i think that kind of <hes> established a lot of foundation and that allowed me to start a business a couple of years later obviously education hugely important you know my mom was always doctor lawyer failure my brother went to harvard took the cats and decided to be rabbi <hes> <hes> help the world so there must be something in the sciences that forced you in that direction but looking at that what skills <hes> translated live from being such a great academic. Most people realize there's the true academics like yourself that really can translate over a certain portion into the the business world that most people that are you know like a very vague tucker the world he could not hold a candle to your academic prowess and he would put down the fact you know go to college no way it's a waste of money where i look at a lot of great entrepreneurs and successful business people like yourself. Your career doesn't happen open unless you utilize the resources at berkeley and really understand develop the skills. What skills did you learn that translated over into business. Any entrepreneur has to be intensely curious and has to be a great lifelong learner. I think more than anything else is being at a place like berkeley helped me figure out how to learn and how learned effectively and and also to solve problems and and with the kind of engineering background <hes> you're taught how to approach really complex problems and really complex systems and figure out how to break those down into into smaller and smaller pieces that allows you to tackle them <hes> piece by piece and and make progress against a much larger goal <hes> and i think that kind of <hes> systems like like thinking <hes> has been <hes> really important as we set out to to launch business for the first time with me and my co founders doing things that we had never done before whereas we tackle kind of new parts of our business that we've never approached <hes> being able to take a big open question and and breaking it down into small pieces <hes> has been <hes> you. I can't think that way of thinking and that skill set <hes> has been critical to tar success as a business and the courage that it's so at bain which she's a pretty secure job great secure company well world renown and then you move into a different direction. How'd you make that decision. Yes i think <hes> my i took my mcat my senior year of college. My scores were good for five years. So i my parents <hes> <hes> kind of <hes>. We're okay with me taking a job at bain <hes> kind of learning something about business for a couple of years but still we're putting a ton of pressure on me to then kind of go back into the that they had laid in front of me and go back to to med school i sort of had different ideas and i wanted to do something to kind of combined some of those business skills with interests in health and kind of helping people and and actually deciding between two different pads adds one i would have moved to uganda and worked for the clinton foundation their pediatric hiv aids initiative be my country director <hes> in uganda <hes> in the other path was to move to new york city <hes> and working finance at a small firm called allen company that had a great reputation and and and a lot of contacts but they were starting a healthcare practice and i could be kind of part of the founding team <hes> they were such different opportunities than flipping a coin and ended up in york at allen and company work there for a couple of years had a great experience learn a ton but also realize that i didn't want to stay kind of finance path and so decide to go back to school got into warden firm i- m._b._a. And took a few months off to travel in between alan in co- and and going to school and i was backpacking around the world and <hes> while i was gone <hes> i lost my only pair of glasses. I left them on a plane. <hes> they'd cost me seven hundred dollars and <hes>. I got back to <hes> to the u._s. <hes> started school has a fulltime student. <hes> and i need to buy a new pair of glasses. This is back and believe how expensive they were. Never stopped to think about why glasses so expensive. It just didn't make any sense it's technology. That's been around for eight hundred years and and that kind of that other item i need to buy around the same time was a new phone and i bought a new iphone for two hundred dollars and it was this magical device and just looking at i kind of juxtaposition of those two products and prices it just didn't make sense to me as a consumer and so i started complaining to anyone that would listen mostly my new classmates about that like last week so expensive asking a bunch of questions and realize that a lot of a lot of other people i'm kind of had a similar frustrations my friend andy who ended up becoming one of my co founders had lost so many pairs of glasses. <hes> x. ended up getting lasik friend jeff. <hes> another co founder sure <hes> he he was wearing glasses those five years old his prescription had changed twice <hes> but he didn't want to pay several hundred dollars for a new pair of glasses <hes> and then neil our forth breath co founder <hes> he had spent the last five years running this great nonprofit called vision spring <hes> where they were producing glasses for people living on less than four dollars a day <hes> and helping to distribute them to reach the world that otherwise wouldn't have access to glasses and through that experience he'd been two glasses factories and realized that there was nothing in the cost of materials that justify justify these high prices into the four of us got together <hes> and <hes> got super excited by <hes> this this idea that we could create <hes> <hes> a much more consumer friendly <hes> eyewear brands <hes> where we could use the highest quality materials in the world <hes> but still glasses for a fraction of the price in other places use the power of the internet to cut out all the middlemen all the unnecessary <hes> price markups and pass those savings on onto onto consumers and so that was really kind of where the idea for parker was born as amazing in scientist and mathematician. How do you explain explain. I always say coincidences are medical currents. That's a huge coincidence right. You're at warton. These glasses happened and then lo and behold old. There's these four cove four of you that have pretty much a shared emotional attachment to an issue but then somehow it all coordinates into a perfect blend that allows you to figure out the solution and create this extraordinary business from it. How mathematically or how did your mind explain explain how this happens because almost every businessperson. This stuff happens all the time. Yeah i think any successful person or any successful business it's always a combination of hard work and good luck and that's certainly the case with me and certainly the case with parker and <hes> and and <hes> you know i think the people that work really hard position themselves <hes> for good luck too far away <hes> and then are also able to capitalize on that good luck when <hes> <hes> when it comes their way and and <hes> you know happen to be in the in the right place at the right time do a lot of hard work and and <hes> yeah matt <hes> some amazing friends co-founders <hes> that i feel just super lucky to have been able to to start and grow business with within we're still best friends and <hes> and i think we <hes> just when kind of that good luck came our way. We did everything we could to take advantage of it and and capitalize and i kind of doubled down on <hes> on the opportunity that was presented to us. That's awesome. I executive coach. A ton of different people like yourself as the best of friends worked together <hes> it's not easy we feel really lucky in the in the moment what what are some of the biggest challenges of working with your best friends. You'll when you don't have one partner. Now you have three best friends and y'all have i do agree. What are the big challenges about that. I think <hes> yes starts by ensuring that <hes> kind of as a group you have the same set of values <hes> <hes> same goals and really open to providing feedback to each other and recognizing that they're going to be difficult decisions and conversations and not everyone is always gonna be aligned and we talked to a lot of people. I got a lot of great advice. People told us don't start a business with friends. Don't start business with four co-founders gonna end up hating each other suing each other <hes> and so we went in eyes wide open and recognize that there are going to be challenges ages and wanted to be thoughtful upfront about setting up a structure that made sense and so we started talking about this idea our first semester business school will we knew that it was a two year period where they were going to be a ton of other opportunities a ton of things that <hes> might draw one or more of us in different directions and so we tried to be really thoughtful about setting up a a.
"co ceo" Discussed on This Is Success
"Yeah. So we had that differ Harry's in late two thousand eleven, and I laughed working in investing towards the end of the summer in two thousand twelve. I share a member the the weekend that I laughed as in Cape Cod and I was at a like this amazing outdoor sort of bar restaurant with some friends, and I literally like passed out. I collapsed just from exhaustion, and I was like, okay, I finally hit my breaking point like that is it. I need to dial it back. And luckily I could go from a few jobs to does a few less so it. So when you got to this point of pure exhaustion, how did you know which one you wanted to dedicate yourself to at that time? We were working on Harry's fulltime and so it was about sort of have and I had already left investing. So it was about release for taking a little bit of time regret for myself. And then rededicating myself to Harry's. Then when you. UN. Any were deciding how to run this. How did you decide on a co CEO model and what does that even look like? Yeah. So I mean, I think having co-founders cozy as Anna company is great. If you feel like you've got a great relationship with that other person and your skills complement each other. Well, you know when you're starting a company early on, got so many things you've got to do. I mean, there's all these different flexible, and then there's a hundred items under each of those that you have to think about. You know, just to ship you to find a distribution partner. You have to negotiate the right rates. You have to figure out the right protocols and processes. And so there's just way too much for anyone person to do. You've got to build a team that can help. And if you wanna be excellent, a lot of those things early on having amazing people who can. I think Dr different pieces of that is really valuable. And I think you know it was helpful for us to be able to kind of divide and conquer, and that way, trust each other, an implicit way that we were gonna execute well, in our individual pieces and. Then obviously align on the areas of intersection of general vision for the business. So how would the co-ceo model be different from? Say one of you being a CEO in one being the c o, I think you know, for us, we always felt like we were equal partners in this business. That's how we structured the business economically. That's how we structured our sort of engagement with the team. It's us doing this together, and so we felt like creating unnecessary hierarchy would just complicate that dynamic. It's always been that dynamic, you know, in the United joke that we finish each other's sentences, we now we've known each other for fifteen years spent so much time together and that sometimes our emails just be Jeff and Andy at Harry's dot com areas. Randy areas, you know, like your grandparents have any male, you know? Yeah..