36 Burst results for "Draper"
Fresh update on "draper" discussed on HISTORY This Week
"Us floor as one of the preeminent athletes coming all of one of the most significant sports events. The lot of people were looking to see. What jesse owens do in the end owens and several other prominent black athletes say we want to compete and at a meeting of the amateur athletic union. Which will make the ultimate decision. The boycott measure fails by two and a half votes with that. Owens will be able to go to berlin and so will seventeen other black american athletes. Deborah riley draper has researched their stories. I'd never heard another athletes. Other than jesse owens in that spurred my interest in the story. And then when i discovered the two black women attest Airmen a future congressman than one of the first black chemists at kodak. I'm like what jesse owens had all this black excellence around him. There was ralph. Metcalfe ralph metcalfe had been deemed the fastest human on earth cornelius johnson. Skinny high jumper. That seven foot from compton california jesse. Owens's roommate from ohio. State dave albritton qualified. So did jackie robinson's older brother. Mac and two black american women tidy picket. She was incredibly smart athletic shoes. Like five feet and she's fast as they come. She's very feisty and she was fearless and louise stokes. Louise was very shy. But at the same time she understood her own power in july nineteen thirty six eighteen black athletes board the s manhattan for a nine day journey across the atlantic along with hundreds of other members of the us olympic team. So they're on a ship bound for nazi germany and there are no other black americans in their know. Black coaches chaperones just eighteen young people and the two women tidy picket and louis stokes were even further marginalized because they were the only two black women on that ship of four hundred people absolutely..
Wimbledon 2021: American Frances Tiafoe Upsets No. 3 Seed Stefanos Tsitsipas
"The The first first round round of of Wimbledon Wimbledon is is American American Frances Frances Tiafoe Tiafoe beats beats third third seed seed Stephanos Stephanos tutor tutor business business trade trade sets sets advanced advanced the the second second round. round. It's a business coming off, losing to Novak Djokovic in the final, the French Open just a few weeks back. Speaking of the top seed Djokovic loses the first set to Jack Draper before winning the next three of the notables to advance and good fifth seed Andrzej 11 8 seed Roberto Bautista good while two time winner Andy Murray wins his open over 24th seed Nicolas Bacillus feely
At Wimbledon, Murray 'Can Still Play at the Highest Level'
"American players they get into Thursday upsets at Wimbledon with Sloane Stephens and Frances tiafoe both reaching the second round table currently ranked fifty seven in the world played a near flawless match to close out the third seed Stefano sits upon us romping through a straight sets win six four six four six three statements belie her current ranking of seventy three two in the hopes of Penn state and former champion Petra Kvitova closing it out six three six four men's top seed Novak Djokovic was stretched to fall by the little brick Jack draper I'm Graham like us
"draper" Discussed on WTOP
"Draper. It really progressed into a lovely evening. Oh, absolutely beautiful out there, Hillary. I mean, I'm tracking temperatures right now. Flirting with that 80 degree mark. The sun is out. The great are mainly dry. I'm just tracking a few storms out there. But I mean, they're all the way back around the Lu Ray and Harrisonburg area and any isolated showers or storms tonight really do favor parts of central Virginia back into West Virginia as we stay mild throughout the evening hours. Mainly in the seventies with overnight lows in the mid to upper sixties, mostly to partly sunny tomorrow. It's hot and it's humid upper eighties toe low nineties on our Wednesday with some scattered Charisse and thunderstorms between about three p.m. and nine PM storms tomorrow could have heavy rain and gusty winds. So something will definitely be monitoring mostly to partly sunny on Thursday, luring humidity highs in the eighties Friday. We have rain moving back in later in the day, some heavy rain potentially in spots Friday night with highs in The load of its seventies. Then we're only in the sixties on Saturday, but improvements to the forecast yesterday was looking like a rainy day. Today. It looks like rain favors the morning hours only currently across the region. We're coming in at 78 in Arlington, 78 in Damascus and 71, Indianapolis. Thanks, Amelia. All brought to you by lend the plumber trusted Same day service seven days a week. Breaking news on w T o P. We've got a major development in the investigation of former President Trump's financial dealings, Manhattan's district attorney convened a grand jury that's expected to decide whether to indict the former president, other executives at his company or the business itself. Washington Post reports, Prosecutors would have to decide whether to present the panel with criminal charges. The grand jury will sit three days a week for six months. It's likely to hear several matters not just the trump case during its term. And we'll have more as we go through the day here on double duty opiates, 5 22 the holiday getaway..
Moulin Rouge! The Musical to Open in Melbourne
"Is scheduled to open in August in Melbourne and with me Ah, three of the cast members who will be on stage all of them who were in the recent production of the show Rent at the Sydney Opera House now I have a soft spot for rent. One Do I as I was part of the original production of rent in Sydney. Here with me, Tim. Margie. Okay. To my medic, Relleno A rock, Obara and Jared Draper. Welcome you fellas to the show. Thank you. Thank you. Yeah. Now, congratulations to you all forgetting your rolls. This is very exciting. Tell us about the audition process because the one for rent way back in the nineties was. It was a bit of a cattle call and seriously at Kinsella's in Oxford Street, the line just went rule the way down. Um, the end on bond. I didn't have to wait in the cattle cool to just go past everyone, but I still had to audition regardless of what my credentials were. Tell us about. Your own audition process. Was it grueling? And is it growing? You've got the longest you've been out of the longest. Yes, the tomorrows. Musical audition process was grueling because it was different. When I started auditioning, I think most of my auditions were on zoom. That was very kind of confronting to me. Especially being a musical audition, where you really want to be in the room and show you your physicality and work off another kind of human being. Um, So that was it was it was grueling, and it was long and it was. It was quite a few callbacks on Ben.
Washington DC Weekend Weather Forecast
"Amelia Draper. What's up Rainy conditions out there Tonight. Otherwise cloudy skies with lows in the mid thirties, too low forties and that of a wintry mix mainly north and west of the metro area, but just wet roads here in the metro region, with surface temperatures staying above freezing If we see a mix it all rain showers tomorrow morning will become more scattered throughout the day with Saturday evening, looking mainly if not completely dry. Some sunshine even develops tomorrow afternoon with highs in the mid to upper sixties. We'll have rain at times on Sunday with highs around 50. Storm team for meteorologists, Amelia Draper. Definitely south of
Snow, wintry mess eyes Washington DC region Thursday
"Amelia Draper. It's Storm Team four as we've got some heavy weather, potentially moving through the region. What do you see for us? Welsh on Thursday Thursday night going to be a mess across the region as we have a wintry mix mainly of snow and ice, moving in very early Thursday and continuing throughout the day, coming to an end early Friday morning, looking at snow accumulation and then some ice on top of that, so if you can avoid travel Thursday, Thursday night, that's gonna be your best bet the National Weather Service already placing everyone Under a winter storm watch for this system. Now, tonight, Sky's become clear with lows in the upper teens to mid twenties, mostly to partly sunny tomorrow colder with temperatures in the thirties and again, We'll have that wintry mix throughout the entire day. Thursday on into Thursday night with highs Thursday, right around freezing on Friday. We warm too near 40, as has become partly sunny. Road conditions will be slick with snow and ice and spots Thursday and Thursday night. The weekend right now looking son felt but cold for mid February low to mid thirties for high temperatures on Saturday on Sunday, we'll have temperatures warming to near 40 degrees currently across the region right now outside of our studios in Upper northwest Washington. Coming in at 44 35 in Hagerstown and over at the beach Ocean City at
"draper" Discussed on Bitcoin Radio
"Oh that token went up. This token did this token down not doing technical analysis for me. It's like you know. I look across the table and i see arbiter and i go. Hey arthur do you want to argue starting company. What are you doing on a bed on you. I can't bet on the token ads notice. Or whatever i love the guys behind lunar crush because they kind of are putting a face to currencies either putting some data in real analysis behind it at separate from this technical stuff and so i want bet on the people so i left that tryptophan because they were doing those token deals and i started doing the kind of deals that i wanted to do with joseph betting on the people betting on david lesniak from total betting on the guys from lunar crush. And that's where we kind of are at today. We've built this venture studio or we deals with companies. Doing really awesome stuff. Doesn't mean that they don't have tokens because them do but the idea's to bet on the people long-term we're not buying the tokens to trade them. Were buying tokens. Hold onto the next ten years. Or we're buying equity knock and when you invest in startups you expect. If you're lucky to take five to seven years to get next time you get no exit. The company fails like minded back in the day or it can take ten plus years right so you've never really know and so that's the kind of bets that we make as a venture studio and we just actually announced a fund draper going home last year in draper invested in us in rebranded from gowran home to draper hall and we expanded. The studio did a lot of very cool things. And so we just announced the fund at our conference Earlier this month actually just been a few weeks that we just announced that we can double down on companies were later stage or companies that are in our portfolio. That are doing really really well so really excited. That's like a traditional fund venture studio. We get scrappy right. We're we're entrepreneurs ourselves. So i feel like i look like a crazy person right now. That'd shaved my beard. And like ten months but i am quarantine corona style just like everybody else and i m coding and helping our portfolio companies. Just like they're working on their products and that sort of what the venture studio. We have a small team and we work our butts off just like the companies to help them grow fun. This meant to double down and so that we have the cash to invest because what we is we we could write small checks and we can held the helpful part. That's easy for us. Because that's what we love early. Stage startups were liked. Were happens ourselves. Were sort of marketing in guerrilla marketing experts.
"draper" Discussed on Bitcoin Radio
"But the idea is to bet on the people long term. We're not buying the tokens to trade them. We're buying tokens to hold onto the next ten years. Bitcoin radio is powered by most belt. Blockchain accelerator multi dot. Io and we are continuing to reimagine twenty twenty. The following interview broadcast in october of twenty twenty as part of our version four point. Oh conference i everyone wants to reimagine twenty twenty. I wanna be your host or today with me alone. Goran at the founding partner at draper. Gordon home blockchain bencher studio and venture fund. Welcome and. thanks for having me excited to be here. Yes me too so What would just jump in there Tell me how. How did you first sort of value. I introduced the crypto. And the and what do you do today. So you know crypto. It was weird happens to two angles for me. So i had a company that That basically built technology for crowdfunding and this was before the crowdfunding existed so he called it social fundraising and be idea for it. Sort of stand out of working at my space back in the day and trying to help people use this new tool social media to do good things. Raise money for nonprofits. Raise money for your business and things like that and A two things happened in. That space was illegal at the time to raise money online the way it is right now the way. It is legal right now. So in the united states the laws changed in the meantime. We sorta participated in that and that was one thing that drew me towards crypto in a way up because i felt like it was crazy and unfair and unamerican is laws for fundraising on the internet And also you know led me even pushed me further towards a borderless world. Everyone can transact news things and one you know a few years later after starting that company We decided to take it fulltime and get serious about it. One of our first customers business was adam draper. An atom draper launched something called funder and boost funder..
Snow, rain moves into the Washington DC region
"But Amelia Draper has it for tonight Cloudy skies with lows in the twenties and low 30 size tomorrow in the thirties, is a wintry mix moves into the region. During the morning and midday hours and continues throughout the day for Washington and areas right around the district. This likely starts is a mix of rain and snow changing to all reign as the day wears on, with the chance for some sleet and freezing rain possible. Mainly all snow farther north and west of the metro area, and namely all rain in southern Maryland, parts of Prince George's and Anna Rondo. Counties inside of the Beltway accumulation amounts likely around an inch or less, and anything that falls and sticks will be melting by the evening hours as temperatures warm but into parts of Upper Montgomery, Louden and Frederick counties. We could see snowfall totals anywhere from 6 to 12 inches even higher and strong. Team four. Meteorologist
Washington DC Weather: Sunny Weather With Winds Subsiding
"Mostly mostly sunny sunny and and beautiful beautiful out out there there on on this this Wednesday Wednesday afternoon afternoon with with a a nice nice breeze breeze across across the the area, area, and and we'll we'll have have high high temperatures temperatures today, warming into the loaded mid seventies as we head on into the evening hours, the winds will subside for the afternoon hours Gusting up to 20 miles an hour for the most part, pretty light winds out there tonight. The winds subside around sunset, which is at about 6 50. Tonight we'll have clear skies out there and lows falling into the fifties. So another refreshing start tomorrow morning and a nice day overall with a few clouds around later in the day highs tomorrow in the loader mid seventies and then overnight Thursday night into early Friday morning, Cem Scattered showers will impact area with another cold front highs Friday afternoon will only warm into the sixties. I'm Storm Team four meteorologist Amelia Draper. Ring belt right now. 71 Burke at 69 80 is 70 in northwest DC. Brought
Severe Thunderstorms for Washington, DC This Afternoon, Potentially Damaging Winds
"The National Weather Service has issued a severe thunderstorm watch for the entire area. This is in effect until 11 p.m. tonight as strong to severe thunderstorms are already impacting parts of the area. I'm going to continue to see strong to severe thunderstorms out there Throughout these evening hours, the biggest concern, gusty, damaging winds, followed by heavy rainfall and frequent lightning. There's also the potential foursome Hale. I would recommend charging your devices in case there are power outages. I'm strong team four meteorologist Amelia Draper. Right now we have hazy sunshine out there 90 degrees. It feels like 96. W t o p. Unused time. 5
"draper" Discussed on The Lawfare Podcast
"It's worth remembering that trump rose to power distinguishing himself from his Republican opponents in the primary by saying all you guys with all your experience in all you're supposed expertise yet yet you all supported this ridiculous endless Iraq war and the stupid notion the Iraq had. WMD. Trump really did believe Vance. Who knows whether trump really supported Iraq or the the evidence is a little bit sketchy but he certainly did convince himself over time that it was a huge intelligence disaster. What happened what happened though under the trump administration us Has One thing in common from the Iraq. And that is the truth ultimately really didn't matter I mean it's as I was alluding to before Scott George W Bush believe he understood the truth in his gut, which was that Saddam is an evil man and wanted to do us harm and meanwhile Iraqis. So wanted to be done with Saddam that they would welcome us with candy and flowers and would quickly embrace AG- New Democracy. and. So that was not a fact based inquiry and we see very much of that today but they're here at the stark difference at no time did President Bush, ever say, Hey, I don't like the intelligence you're bringing me George Tenant. I don't like it is inconvenient to me go find some better intelligence he I think he ignored some of the intelligence you didn't pay close attention he. Should have, but he certainly didn't say bring me alternative intelligence and the other thing that Bush never did was say you're fired to any intelligence official who brought him intelligence that is politically inconvenient for him. Both of those things have happened in the trump administration he has willfully ignored and pushed back against intelligence. The refutes his boasts regarding his foreign policy accomplishments, for example, defeating Isis Or. The Russia had nothing whatsoever to do with the election or the John Young and he or achieving a historic breakthrough in their nuclear talks Im- saying otherwise the intelligence community posed a threat to him and he would say that they have run amok at no time did George W Bush ever impune the integrity of the intelligence community and that is now a daily occurrence in the trump administration. So in your piece, you have this amazing quote that you got from Ambassador Richard. Grenell. Who of course stepped in become president trump's kind of. acting director of national. Intelligence while the new director of National Intelligence John ratcliffe was awaiting confirmation. Where in response to some questions he replied I'm just GonNa go ahead and quote it and read it out here. With a statement blasting the typical Washington type that hate the fact that Donald Trump is a Washington outsider unwilling to play The Washington game and won't just let the system, do its thing and give us another Iraq WMD style assessment. What. Does this quote by Grinnell? Somebody who you point out was the spokesperson or a spokesperson for the State Department during George W Bush is administration. What does it tell you about the role that Iraq WMD affair is playing in the popular memory and the ways that different camps may try and use it to their own advantage in political and policy discussions moving forward. Well. One thing the trump administration has done at any turn where the intelligence community is offering an assessment that is at odds with trump's political agenda they have. Without Fail pointed to the WMD assessments that proved to be grievously flawed and said in essence why should we trust these people? Of course this presupposes one thing and begs another question when it presupposes that the intelligence community has learned nothing from that period and I would suggest that that is not the case I think there are a lot of lessons to be learned from the Iraq debacle that have not been internalized by various institutions. But the intelligence community is not one of I think that it has really worked to improve its analytic tradecraft and to avoid the kind of gross mistakes that it made in Iraq but the other question that's. Is. Okay. President trump and trump administration. If that's what you believe did the intelligence community is so worthless. So in out or even so corrupt then where do you get your intelligence from? If not from the US intelligence community, you get it from Fox News do you get it from Breitbart? Do you get it from Alex? Jones? Do you get it from a foreign? Country's intelligence assessments. The the notion did you there for should not engage at all with the intelligence community is a really bizarre and I think sobering notion attest to to. Now by the fact that that the president apparently gets about one PD one presidents daily brief per week where under the Bush administration and the Obama Administration it was unfailingly six days a week. So through the course of the yearbook and this most recent article and really through the course of your career as a journalist, you have had a front row seat and talk a lot of people who are inside the room for these cases of manipulating intelligence of policy officials engaging with the intelligence community in ways to try and get them to reach a desired outcome that may or may not align with their actual evaluation of the facts. understand the point of concern for a lot of people in our current moment it should be moving forward. And my question for you is based off your experiences what are the sorts of safeguards we should be looking for to prevent the sort of behaviour what could congress or if you're ministration or the kind of general public due to try and prevent these manipulations from succeeding in the future So let's be clear. The intelligence community serves to provide truths which are often uncomfortable truths and administrations have historically chafed against those every every administration including trump's predecessor. The Obama Administration did not always lie. Them did not always agree with what intelligence analysts brought them but this is a sweet generous case of a president who has really sought to bend one government agency after the next to his will. But it's particularly poignant when the entity you're trying to bend to your will is one that serves. Only to provide truth, and so if you're if you've got a president who saying I, don't like the truth here is my version of the truth and I'm if you step across the line and in any way define me I'm gonNA fire you there's there's little. You can safeguard against that with one possible exception, and then exception would be the oversight committee's in the Senate and the House and yet we have seen in the House Intelligence Committee, an incredibly politicized Oregon that has all been advocated. It's right obligations and I'm referring to the Republican Party that and as I mentioned this in the story that when there was a kind of routine security briefing election security briefing in. February. This year classified briefing before the House Committee and they had done one just a week previous in the Senate committee without incident. The intelligence official who was brought to testify woman Shelby Pearson simply stated it's a Russia. Favors the current president in the upcoming election it is the intelligence communities assessment. The Republicans on the committee went crazy over this and and Tried their best to pick that apart without having any factual basis themselves to offer a countervailing point of view and then informed the president of what she had said and as a direct result of that her boss acting director of national. Intelligence Joe McGuire. was fired when you have a Republicans who are basically oriented party who? Are reporting from a top secret briefing directly to the White House. Here's what just happened to. It's just an unfathomable. That did is yet another. Exhibit Nine Hundred and twelve of this is not normal but what has become commonplace in the trump administration? So it is very difficult short of. What will take place at the valid? November to imagine some kind of safeguard against what's currently occurring. We will have to leave this conversation there for today but Robert Draper author of the new book to start a war and of the article wanted truce in the recent New York. Times magazine thank you so much for joining us here. Today on the PODCASTS is a really.
Unwanted Truths: Inside Trump’s Battles With U.S. Intelligence Agencies
"Us now is Robert Draper writer at large for the New York Times magazine. He's the author of several books including most recently to start a war how the Bush administration took America into Iraq Arbor draper has just published this landmark piece of reporting the Times magazine. It's called unwanted truth this inside trump's battles with US intelligence agencies among the scoops embedded here is news that. The. White House pressured the Director of National Intelligence to change and intelligence community conclusion that Russia wanted president trump reelected in two thousand, twenty, the intelligence director at the time Dan Coats said, no, he was then fired his successor signed off on the change, but he was then fired after one of his deputies briefed Congress that in fact, Russia is working to reelect president trump this year. Mr Draper I, thank you for this reporting for joining us here tonight to help us understand it. Thanks very much for your time. I've said a lot of words about the. Words that you have reported here and that you have printed. Let me just ask if I got anything wrong or if you think that I'm looking at anything the wrong way around. To actually think presences I did when issue two clarifications the I rooted in the most important is that I am not aware the Joe McGuire had anything to do with the alteration of the National Intelligence Estimate this all took place during his first couple of weeks on the job when his hands were very much full with Ukraine whistleblower incident as you correctly pointed at and so this really. Anthem it matter win the in I was approved on September the twenty six inch testifying on the hill all day long. So he wasn't able to cheer that meeting. So that's the first second thing is that You know they're a don't want the story to give anyone the impression that the intelligence community as a whole has been bent to the will of Donald Trump. There's still plenty of analysts in case officers who are doing very good work. The problem is that the people above them have been in the line of fire with the trump administration and had begun to water down such that the intelligence products do not have the integrity that they once did not mean saying black is why end up as down but they are saying things in a more equivocating fashion and we saw this most recently just out of this past Friday. On a no deny official release this election security report saying that for the first time did yes it did appear the Russia. Trump essentially the same breath saying that China in Iran. Favored Biden is if it were kind of a jump ball or something in that was working patient, you did not see before the trump presidency. I feel like I. Thank you for for those clarifications and for drilling down on those things in that way I feel like. When I read it, the beginning of your piece that Dan Coats was pressured to change the National Intelligence Estimate around Russia's intentions for the two thousand election and he said, no felt like, wow, that's that's really big news about Dan Coats to find out that that happened just before he was fired. Is itself a scoop. But then to find out that the National Intelligence Estimate. was in fact watered down in the way that the White House wanted under Joe McGuire. It it does seem like the sort of bending to the White House's will equivocating on things that aren't equivocal casting things in a way that doesn't you know is designed not to upset the president or put things in ways that he likes it does feel like it's not just pressure, but it's effective pressure that's actually working on the I say. Over sharing in. A. probably Rachel that the matter of. Russia in election security has been a sore subject since before trump's presidency and everyone knew I in the NFC in the West Wing and certainly in the intelligence community that to bring the very matter of Russia interfering in two thousand sixteen, it's likely interference patterns through the midterms and into twenty twenty an most of all that if they were trump would be to call into question the legitimacy of this presidency. That's how he would receive this and so because it was such an unpleasant thing as report out then chief definite Mulvaney and then national security advisor. John was a considerable lengths to to keep this completely off the agenda would get on the agenda for example, when it was a single in a seat meeting at relating to Russia in Election Security Pearson Nelson than the secretary of. Homeland Security didn't get five minutes into it before trump started interrupting her and asking questions about a wall along the Mexican border. So this has been a distasteful subject to him people around him have known that and they have adjusted themselves unfortunately accordingly.
Flash Flood Watch In Effect For Washington, DC Area
"Watch for the entire area until midnight and night. As we track thunderstorms and downpours this afternoon, thes storms will be slow moving, and that's leading to flood concerns out there with up to two inches of rain possible in spots. The biggest area of concern is southern Maryland that had so much rainfall there on Tuesday as we head on into the evening and overnight hours, rain will start to taper off late, But we'll still have some scattered showers and thunderstorms out there tomorrow, with plenty of clouds and muggy conditions otherwise highs tomorrow in the eighties. Once again as we look to the weekend, there's the chance for some thunderstorms on Saturday, especially east of Washington. Sunday is looking dry. I'm storm team for meteorologist stimulate a Draper. Okay, a couple of storm systems We're
"draper" Discussed on Skullduggery
"Ladies and gentlemen these are not assertions. These are facts corroborated by many sources, some of them sources of the intelligence services of other countries. Gravity of this moment. Is matched by the gravity of the threat that. Iraq's weapons of mass destruction pose to the world. One of the most worrisome things that emerges from the intelligence file, we have on Iraq's biological weapons. Is the existence of mobile production facilities used to biological agents. Let me take you inside that intelligence file and share with you. What we know from I witness accounts we have first hand descriptions of biological weapons, factories on wheels and on rails. That was then Secretary of State Colin Powell on. February fifth two, thousand three making the case to the United Nations Security Council that Iraq under Saddam Hussein had weapons of mass destruction and. To Al Qaeda. Was a salesman's pitch for a US military invasion that came a little more than a month later. Has has long been known virtually everything Powell had to say that day was wrong based on faulty intelligence that had been massaged and manipulated in order to fit the bush. White House's narrative that Saddam had to go much of this became quickly clear after American troops occupied Iraq and could find none of the WMD that Powell told the world was there in abundance. But now veteran journalist Robert Draper has written a new book to start a war the digs deeply into the Iraq war fiasco and reveals through documents and interviews just how far the Bush administration had gone to stretch the truth. We'll discuss draper's findings and what they mean for today on this episode of buried treasure. Because people have gotta know whether or not their president's. I'm not a crook. I told the American people I did not trade arms for hostile my heart to my best intentions still tell me that's true. But the facts and the evidence tell me it is not I did not have sexual relations without one there will be no allies. We will honor the American people with the Truth and nothing else. I'm Michael ISIKOFF chief investigative correspondent for Yahoo News and I'm Dan Kleinman editor in chief of Yahoo. News you know we lived through this experience of the. Iraq war and the Bush administration's salesmanship to make the case that the war was needed and you know we all went through a process of accepting at first some of what they were saying, starting our own reporting trying to verify it. We all had doubts. But when you see it altogether as draper has done in this book, it is pretty staggering just how colossally wrong the US government was not that long ago. Yeah I. Mean You know you read through Draper's book which is exhaustively researched and really well done and you think Oh my God like this is such a different era you know. I sort of forgotten so much of it and yet remembered how it consumed us for so long and for a lot of journalists in Washington that and nine eleven or of formative experiences. But. You know in a way as you're reading the book and thinking about it, you realize that is really part of a continuum that there were the seeds of a lot of the craziness in Washington that we're covering now were planted back then this kind of assault on the truth and conspiracy theories and distrust. Experts. A lot of the things that led to you know getting into that disastrous war are evident in the way Washington and the current president behaves. To a much greater extreme now, I will say that as. Appalling as Washington is right now in so many ways that one thing is we have not gotten into wars like the Iraq war in which you know forty, five, hundred American service members were killed. So that's true and I think you'll hear I expect trump making that point as we get closer to election day especially since he's running against the candidate. Joe. Biden who did in fact vote for the Iraq war just as Hillary Clinton did trump's opponent in two thousand sixteen but I just want to push back on something. You said there when you're talking about the experts because what's important to remember here is so many of the experts not all but many of the foreign policy mandarins did support the war in Iraq. By into the case. That was making it the United Nations. True. I actually had in mind experts who were far lower down on the Totem Pole, which was the inspectors in Iraq who were saying there are no weapons of mass destruction here and they were and they were dismissed and you know I think part of what comes out of draper's book is that exactly to your point is that Experts often can't be trusted, and that's part of the reason people don't trust experts right now because of what happened in Iraq and all you have to do is go back a couple of generations before that and remember the best and the brightest and how those experts, the Harvard boys that Jack Kennedy had in the White House led us down that primrose path into Vietnam that the previous biggest foreign policy disaster in American history before Iraq well, I think they both rank up there Vietnam, of course. Cost the lives of more than fifty thousand American troops. So I think I'd still have to put that as number one but. War. Definitely is is is on the shortlist of American Foreign Policy Disasters, and we should talk to our own expert today on this subject Robert Draper. Let's bring him in and get right to it..
Washington, DC to Get Break From Humidity Wednesday After Breaking Record for Most 90-Degree Days
"D T o P traffic at a storm scene for meteorologist Amelia Draper. Today was the 27 out of 29 days, hitting 90 degrees or higher, which is a record Right here in Washington for any month of 90 degree days. The old record 25 days that back in July of 2000 and 11 now temperatures for the evening hours generally in the eighties, with overnight lows in the seventies, another hot day tomorrow and more humid than today, with highs in the nineties and mostly to partly sunny skies. We'll have some scattered showers and thunderstorms potentially overnight with some pockets of heavier rain possible Thursday night, so something to keep in mind. Scattered showers and thunderstorms are likely on Friday, especially later in the day, otherwise plenty of clouds. It's a bit humid, but it's cooler gonna break from the nineties with highs Friday in the
Washington DC Breaking Record for Most 90-Degree Days
"Storm Team 44 day forecast with Amelia Draper today was the 27 out of 29 days, hitting 90 degrees or higher, which is a record here in Washington for any month of 90 degree days. The old record 25 days that back in July of 2000 and 11 now temperatures for the evening hours generally in the eighties, with overnight lows in the seventies. Another hot day tomorrow and more humid than today, with highs in the nineties and mostly to partly sunny skies will have some scattered showers and thunderstorms potentially overnight with some pockets of heavier rain possible Thursday night. So something to keep in mind. Scattered showers and thunderstorms are likely on Friday, especially later in the day, otherwise plenty of clouds. It's a bit humid, but it's cooler. We're gonna break from the nineties with highs Friday in the eighties. And late. A thunderstorms are possible. On Saturday. I'm storm Team four meteorologist Amelia Draper tonight, where 86 degrees in Washington and the upper seventies in a bunch of suburban areas. German town Down to 77 Dale City is at a tea called Pepper's 77
Washington D.C.-area forecast: Hot today, and turning hotter the next few days
"Draper with us tonight. And Amelia, You've got one heck of a hot forecast force from the weekend. Exactly, Shawn. We're talking about dangerous heat moving in for the weekend, especially Sunday and then staying dangerously hot Monday Tuesday, potentially even Wednesday as well. I've also been mentioning that isolated storm chance here throughout the afternoon and evening hours on W. G. O P and seeing that materialized now into parts of southern Maryland down into Charles County, saying some really heavy rainfall just to the south of the low Plato area. Ah lot of lightning as well starting to develop so we could see some heavy rain, some strong, gusty winds out around the Hughes Ville. Sorry. This does look like it's slowly moving on into ST Mary's and potentially portions of Calver and the southernmost point of Prince George's County, so some isolated storms out there Tonight. Most of us do look to stay dry with blows, though, on ly in the seventies area wide high temperatures tomorrow warming into the middle Upper nineties. Humidity levels are slightly lower compared to today. That being said, though our heat index tomorrow afternoon, it's still above 100 degrees, and then Sunday afternoon, Middle Upper nineties and tropical Community make our heat index feel like 100 to 107 degrees, so we could certainly have a heat advisory out there as we look to Sunday and then Monday if we hit 100 which I am Gore casting, it will be the first time Reagan National has hit 100 in almost four years. The last time was in August over 2016. Since scattered lately. Thunderstorms are possible Monday, Tuesday and Wednesday as well with the extreme heat and humidity in the area. But again with the Moving in. This is that you want to take seriously drinking lots of water, taking frequent breaks, avoiding long hours outdoors. That thing said currently temperatures across the area right now. Bigger sounded 91 95 degrees in Arlington, and we're at 93 leaves for for alright, alright, thanks thanks
Heat Index to Hit 100° in Washington DC Area This Weekend
"NBC for now. Amelia Draper. Look at what we've got going this evening for a forecast. What do you see? Well, I'm seeing pretty quiet conditions in the immediate D. C. Metro area, Shawn, but on storm team for radar, some heavy rain is moving through Hagerstown, Williamsport right now approaching the Martinsburg and Winchester areas, so Some scattered showers and thunderstorms out there tonight, especially north and west of Washington, with partly cloudy skies and lows in the upper sixties to mid seventies. Dangerous he starts to build into the area and it is dangerously hot here over the weekend into early next week. Now tomorrow, a heat index around 100 degrees with highs in the low to mid nineties since scattered showers and thunderstorms tomorrow chance for a few storms over the weekend. But again, it's all about the heat and humidity. A heat index on Saturday of 100 to a Heat index on Sunday of 106 degrees. Heat advisories are likely especially on Sunday to Monday. Get it on your degrees on Monday, something we haven't done here in a few years. Currently across the region right now, 88 degrees up in Frederick, 82 back in Hagerstown and Annapolis coming in at 82.
After 20 straight days with 90-degree temperatures or higher, Washington DC is in for another heat wave
"Well Amelia Draper. If people don't like the weather today, they're not going to like the weather tomorrow and there's certainly not going to like it over the weekend home. My gosh, Hilary, we're talking about some serious heat and humidity impacting the area. We are closing out a 20 day heat wave. We did not hit 90 degrees today, but as we begin another heat wave starting tomorrow, this one more significant for sure. With Temperatures in the mid to upper nineties even approaching 100 degrees on Monday and humidity levels, making heat indices around in above 100. So out there tonight some scattered showers and thunderstorms around right now on storm Jean for radar tracking stone showers moving into the Hagerstown area. Some thunderstorms back into the Panhandle, West Virginia so he could see a shower or thunderstorm out there tonight. Most of the areas days dry. Partly cloudy lows in the upper sixties to mid seventies. Scattered showers and storms tomorrow, otherwise mostly to partly sunny loaded mid nineties tomorrow feel more like 100 with the humidity levels on Sunday on Saturday and Sunday. We have highs in the mid to upper nineties with a heat index on Saturday. Around 100 to the Heat index on Sunday. Around 106 can't rule out a storm over the weekend. It again. It's all about the heat and humidity will likely have a heat advisory issued for the area on Sunday, as well as Monday, and as we begin this new heat wave, it looks to last at least 10 days out there, if not longer, currently, 1 86 in the District 82 in Annapolis and 88 in Manassas.
Capital Allocation with Blair Silverberg and Chris Olivares
"Blair and Chris Welcome to the show. Thank, you good to be here. We're talking about capital allocation today and I'd like you to start off by describing the problems that you see with modern capital allocation for technology companies. I'm happy happy to start there. So I think it might be helpful to give. The listeners, a little bit of our backgrounds so I was a venture capitalist at draper. Fisher Jurvetson for five years I worked very closely with Steve. Jurvetson and we were financing are very MD intensive. Technology projects that became businesses things like satellite companies companies that were making chips to challenge the GP you new applications of machine learning algorithm so on and so forth and I think the most important thing to recognize is that the vast majority of technology funding does not actually go to those kinds of companies. The venture space is a two hundred fifty billion dollars per year investment space. The vast majority of the capital goes to parts of businesses that are pretty predictable like raising money in in investing that in sales, marketing and inventory or building technologies that have a fairly low technical risk profile, so the vast majority of tech companies find themselves raising money. From a industry that was designed to finance crazy high technology risk projects at a time where that industry because technology so pervasive you know really do the great work of of many entrepreneurs over the past twenty to thirty years, technology is now mainstream, but the financing structure to finance businesses not has not really changed much in that period of time. Yeah, and then I guess I'll talk a little bit. My my background is I came from consumer education sort of background, so direct to consumer, thinking about how you use tools and make tools that ingrained into the lives of teachers, parents students I was down in the junior class dojo before starting capital with Blair. We were working on the Earth thesis He. He was telling me a lot about this. The the date out. There exists to make more data driven in data rich decisions. How do we go software to make that easy to access in self service and sort of servicing the signal from the noise, and we kicked around the idea and I thought that they were just a tremendous opportunity to bring. What Silicon Valley really pioneered which is I think making software that is easy to use in agreeing to your live into kind of old industry fund raising capital Haitian. The kinds of capital allocation that exist there's. And debt, financing and different flavors of these. Of these things say more about the different classes of fundraising in how they are typically appropriated two different kinds of businesses. So. You have the main the main groups you know. Absolutely correct, so there's. Equity means you sell part of your business forever to a group of people and as Business Rosen succeeds. They'll get a share in that. Success and ultimately income forever. Debt means you temporarily borrow money from somebody you pay them money, and then at some point in time that money's paid back and you all future income for your business, so equities permanent, not permanent. If you think about how companies are finance like. Let's take the P five hundred. About thirty percents of the capital that S&P five hundred companies use to run. Businesses comes from debt. In the venture world that's remarkably just two percent. And the thing that's crazy is this is two percent with early stage seed companies, also two percent with public venture, backed companies in places like the best cloud index, which is like a one trillion dollar index of publicly traded technology companies started their life, and in with injure backing many of them SAS companies, these companies, also just two percent finance with debt, but nonetheless within these these classes, the reason it's obviously economically much better for a business and pretty much every case to finance itself with debt because it's not. Not It's not permanent, and it can be paid back. It's much much cheaper to use debt. That's why you buy a house with a mortgage show. You know you don't sell twenty percent of your future income forever to your bank help you buy a house, but the reason that people use equity comes back to the risk profile so just like. If you lose your job and you can't pay off your mortgage. The bank owns your home. Same exact thing happens with debt in so restorick Louis, if there's very low. Certainty around the outcome in typically early stage investment you're you're doing a lot of brand new are indeed you have no idea if it's GonNa work you cope. You know over time that you'll be successful, but there's really quite a bit of uncertainty equities a great tool because you're. You'RE NOT GONNA lose a business, you know everybody can basically react to a failed. Are Indeed project. Decide what to do next had saints. Equity is kind of the continent tool for high technical risk, high uncertainty investments, and then debt is basically the tool for everything else, and it can be used as most companies do for. Ninety percent of The places that businesses are investing so if you're spending money on sales and marketing, and you know what you're doing and you've been running campaigns before. That were successful, very. Little reason you should use equity for that if you're buying inventory if you are a big business that's. Reach a level of success that on. Means you have a bunch of diversified cashless. Coming in businesses might take out dead on business kind of overall, so it's less important what specifically you're using the money for, but it's important to recognize that most companies are financed roughly fifty fifty equity versus dead, just just intra back companies that. That are kind of uniquely Equity Finance. Scaling a sequel cluster has historically been a difficult task cockroach. DB Makes Scaling your relational database much easier. COCKROACH! DVD's a distributed sequel database that makes it simple to build resilient scalable applications quickly. COCKROACH DB is post grass compatible giving the same familiar sequel interface that database developers have used for years. 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It's often originating in a large source, a sovereign wealth fund or family office in it's being routed through something like capital allocators cater like a venture capital firm for example or a bank. How does this capital get allocated to these smaller sources? What is the supply chain of capital in the traditional sense? You know it's kind of funny to think about capital and things like the stock market in the form of a supply supply chain, but this is exactly how we think about it so at the end of the day. Capital originate. In somebody savings, basically society savings right you. You have a retirement account or your population like you know in in Singapore and Norway with a lot of capital, it sort of accumulated from. From the population and these sovereign wealth funds, or you're an endowment that's you know managing donations of accumulated over many many years, and ultimately you're trying to invest capital to earn a return and pay for something pay for your retirement pay for the university's operation so on so forth so that's Capitol starts, and it basically flows through the economy in theory. To all of the economic projects that are most profitable, inefficient for society, and so, if you step back, and you think about like how how is it that the American dream or the Chinese Miracle Happen? You know in in both of those cases different points of the last hundred years. Why is it that society basically stagnated? You know the world was a pretty scary. Scary place to live in up until about seventeen fifty, the industrial revolution started. Why is it that you know basically for all of human history? People fought each other for food and died at the age of thirty or forty, and over the last two hundred fifty years that it's totally changed. It's because we have an economic system that converts capital from its original owners. Diverts it to the most productive projects. which if they're successful, replace some old more expensive way of doing something with newer better way and so I think when when I described that like you know I, think most people can step back and say yeah, okay I. kind of see how capital flows through the system, it goes automatically to someone making an investment decision like a venture capital firm ultimately gets into the hands of the company company decides to invest in creating some great product that people love. Let's. Let's say like Amazon and then everybody switches from you know buying goods at some store that may or may not be out of you know may or may not being stock to the world's best selection of anything you'd never wanted. The most efficient price that's society gets wealthier basically through these these kind of steps in these transformations, but it's asking if you step back and think about it like nobody actually thinks it's processes as efficient as it could be like. We asked people all the time. People were interviewing journalists companies. We work with sewn. So how efficient do you think world's capital allocation is? I've never met a person that says it's pretty good. You know we're like ninety percent of the way there. In fact, most people think it's pretty inefficient. They think of companies like you know we work, and some of the more famous cases lately of of Silicon. Valley back businesses that that totally. underwhelmed disappointed. Their initial expectations and I think most people admit that the efficiency of capital allocation is either broken or nowhere close to achieving its potential, and so we basically we'll talk more about our technology and how we do we do. We basically think of this problem our problem to solve. There's an incredible amount of Apache inefficiency in how data that goes from a project or a company, ultimately funneling up to an investor flows, and so you know it's hard to place blame because there's so many people in the supply chain, but. But I think it super clear that if it's difficult to measure whether or not a project or a business is good at converting capital into value in wealth, and you know products that people want, it's nearly impossible for society to become really good and efficient at allocating its capital, so we're we're here basically to make the data gathering data transformation visualization communication of what's actually going on under the out of business as efficient as possible and you know from that, we thank some great things are going to happen to the economy. Goes a little bit deeper on the role that a bank typically plays in capital allocation. If you think about our bank works like let's take. Let's take a consumer bank that most people think about you gotTA checking account. Right, now you've got some money in that checking account. That account actually takes your money or dot and most people know this your dollars sitting in that account. You know just waiting around. You'd withdraw them. Your dollars are actually rolling up into the bank's treasury. There's somebody at the bank working with the regulators to say hey, how much of this money can we actually put into things like mortgages, commercial loans, all of the the uses of capital that society. Has In some some effort to. To, move the world forward and make the economy efficient, and so those deposits basically roll up into a big investment fund, and there's ratios that regulators set globally that say those dollars needed to be kept in reserve, versus how many are actually able to be invested, but with the portion that's able to be invested. It's there to fun. You know building a house to fund a business back -Tory to fund sales and marketing or inventory procurement for some other business, and so a bank was was basically the original investment fund, and a bank has unlike venture funds and other sources of. We typically think private capital. The bank has tricky. Problem were any moment all of the depositors holding the checking accounts could show up and say hey. I want my money back and so that's why banks have to deal with reserving capital predicting the amount of withdraw and classically everybody wants her money at once at the worst possible time, and so banks have to deal with quite a bit of volatility now if you take an investment fund on the other hand. Totally totally different structure, so your typical venture fund will have money available to it for a period of ten years from you know typically these larger pools of capital. We talked we talked about so very rarely. Individuals are investing retirement savings in venture funds, typically sovereign wealth funds down that's. Basically pools of that individuals capable. Win One of these funds makes a commitment to a venture fund. It'll say you've got the capital for ten years. You've gotta pay back. You know as investments exit, but other than that will check in ten years from now. We hope that we have more than we gave you the star with and there there's no liquidity problem because the fun has effectively carte blanche to keep the money invested until some set of businesses grow and succeed and go public and make distributions so one thing that's fascinating. The Tappan in the last twenty five years is private capital capital in the format of these kinds of funds. Have just grown tremendously and so today. There's a little over five trillion dollars. Of private capital being allocated in this way to think like buyout funds venture funds so on and so forth. Funds don't have the liquidity problems of banks. They can make much longer term for looking investments. This is created tremendous potential to make the economy more more efficient by taking out the time spectrum. You know this is why venture investors can do things like finance spacex or Tesla. Really. Build fundamental technologies in the way that a bank never could so this is an amazing thing it. However leads to a very long. You DAK cycle, so the incentive goes down when you take out the time line over which investment needs to pay back. To carefully monitor and understand what's going on in the business day today, so it's pretty interesting thing about the different pools of capital. There's not not to. Make it sound too confusing, but I think everybody will admit that the financial markets are incredibly diverse complicated we track basically about fifteen different kinds of capital, and they're sort of pros and cons with each one, but you know a bank is one. A private fund is wanted insurance companies balancing as another. You've got things like ETF and public vehicles that hold capital so there's quite a bit of complexity and the the structure of the financial markets. All right well. That's maybe the supply side of Capitol on. All kinds of middlemen and all kinds of different arrangements, but ultimately there is also the demand side of Capitol, at least from the point of view of companies getting started which is. Startups or computer in later stage with the maybe they're not exactly considered startup anymore, but they're mature. These companies have models for how they are predicting. They're going to grow, but oftentimes these companies are very. Lumpy in terms of how their their revenues come in how closely their predictions can track reality. So how do technology companies even model their finances? Is there a way to model their finances? That actually has some meaningful trajectory. Sure so first. Companies you know need need a base think of all the places that they're spending our money and. We're pretty. We Do I. Think a pretty good job of organizing this and making it simple so when we look at companies and we can, we can talk more about how the the cabinet machine operates, but when we look at companies, we basically think they're only a handful of places of money. Get spent you spend money on. Short term projects that you hope proficient things, sales and marketing. Houston money on paying for your sources of financing like paying interest on debt, making distributions to your investors, and then you spend money on everything else and everything else can be designing software building products on, and so forth, and so if you break the demand for capital down into just those three buckets. And look at them that way. Some pretty interesting things happen. The first is for the short term investments that you hope productive. You can track pretty granular nearly whether or not they are, and we'll come back to that. For paying back your investors, you sort of know exactly how much you're paying your investors so a pretty easy thing to track, and then for the operating costs you know most people will help us. Apax, that you're paying to keep the lights on things like Renton the your accountants, the CEO salaries on and so forth these are these are table stakes expenditures. You need to stay in business and so. Amongst each of those three things, there's different things that you wanna do to optimize and I'm happy to go into more detail sort of go through each one. If you think that'd be useful. Yeah Bliss a little bit more about about how these companies should be a modeling, their revenues are that is meaningful to model their revenue so that you can potentially think of them as targets for for capital allocation so. If we think about. Understanding what company might be a viable recipient of capital? How can you accurately predict the trajectory of that company, or or do they? Would they present a model? Would they develop a model good through a little more detail? How a company would serve justify? It's need for capital. So typically what what most companies do and this is not terribly useful or accurate, but I'll tell you what most people do I mean by the way like how central the entire economy predicts, predicts demand for capital works like this. Companies take. Their income statement on their. Balance Sheet historically. And they they basically have this excel file got a bunch of you know, rose and have different things like my revenue, my you revenue that sort of linked or my expenses that are linked revenue Mukasey could sold so on and so forth, and they grow each of those rose by some number that they hope to hit so if you want your revenue to double next year, you'll say my revenue one hundred dollars today I wanted to be two hundred. Hundred dollars twelve months from now I'm just GONNA draw a line between those two points and every month. There will be some number that's on that line, and that's why monthly revenue I want my expenses. You know everyone knows. Expenses are going to have to go up if my revenue goes up but I don't want them to go up as much as my revenue, so I'm going to draw a line. That's you know somewhere less than a doubling. and. You pull these lines together on one big excel file and there's your you know they're your corporate projections. In general, this is true for big companies small companies, but that's not actually how. Company revenue works because if you go back to the three categories, we talked about before, and you just focus on the one that talks about the short term investments. The. Way Company Revenue Actually Works is a company this month. Let's say they spend one hundred dollars on sales marketing. Well. They're hoping to get a return on that sales marketing, and so they're hoping that in the next you know six months. That's paid back. Twelve months that's paid back. You can actually track every time they spend money on sales and marketing. how quickly it gets paid back so it's that level of precision that can accurately predict revenue, and so what we do is we basically just get a list of every time? Money was spent on one of these short-term investments, so you sales and marketing for for an example, and then we get a list of all of the revenue that was ever earned. And we attribute between both of those lists causing effect. And we do that using a bunch of techniques that are pretty commonplace in your typical data, company or machine learning company. We use some math things like factor graphs. We use simple kind of correlations. We have You know a whole kind of financial framework to. Guess. What attribution should be because you learn a lot as you see different businesses and you see a bunch of different different patterns, which you can basically cluster on, but it is this linkage between spending on something like sales and marketing emceeing seeing revenue, go up or down, but makes or breaks a business, and you want to look at it and I is. Not a bundled. Entirety which is how financial projections are typically built? Okay, well! Let's talk a little bit more about what you actually do so if you're talking about early stage technology companies. Describe how you are modeling, those companies and how you are making decisions as to whether they should receive capital. When a company comes to capital they they come to our website. They sign up for this system that we built which which we've called the capital machine. And the first thing that they do is they connect their accounting system their payment processor typically, so think like a strike, and then sometimes they'll provide other things like a pitch deck or a data room, or whatever other information they have prepared. The system pulls down. All of the date in the accounting system and the the payment processor, and we look at other systems to these are the two key ones that all all dive into detail, and so, what ends up happening is from the accounting system. We get a list of all the times. Businesses spend money on these things like sales and marketing that we were talking about before. From the payment processor we get a list of all the revenue transactions in crucially we get it at. The level of each. Each customer payment, and so you know we scrub I all we really care about is having a customer ID, but once we have data at that level. We can start to do this linkage and say all right look. You know this business spent. A million dollars on sales and marketing and March of two thousand eighteen in April of twenty eighteen, and we saw revenue grow by twenty percent. That was a pretty substantial chain. You know what actually happened here. You can typically identify the subcategories of sales and marketing and start to do this link between these two, and this is really the you know the magic behind our our data science in our team pairing with our engineering team to figure out this problem and solve away that is, that's robust. Bud once we have these two data feeds, and the system goes through, and does all of these attribution. Populations were able to present that back to accompany a pretty clear picture of what's going on, and so we'll say things like hey. Your Business is pretty seasonal, and in the summer is when you're typically more more efficient at converting your sales and marketing dollars into growth so I, you want to finance growth in the summer. The second thing is only about eighty percent of your businesses financeable. There's twenty percent where you might not know it because you're not looking at this level of detail, you're busy building your business, which is exactly exactly what you should be doing, but Twenty percent of your businesses, not efficient. You're spending money on on your sales and marketing categories, product lines, and CETERA that just shouldn't exist and so if you get rid of those. If you double down on the part of Your Business, it is efficient. Then we predict your revenue will be act fifty percent higher, and we'll tell you exactly how much money you need to invest to raise money to to raise the revenue by fifty percent. We give you a bunch of charts that allow you to see how history and projections merged together and dig down. Inspect how we do that linkage to make sure you agree, but. This is what the capital machine does at its core. It Converts Company data into a fully audited completely transparent picture of. How business works where it sufficient where it's not efficient. And then that's where our technology stops, and where balanced she comes in, and so we then take this information, and we make balancing investments directly in companies, and so primarily at this point we lend money to technology companies that we see from their data are eligible for non dilutive funding. We make capital available to them directly. We basically allow them to access it through the capital machine. We use one system to communicate changes to the business. No keep both sides and form so on and so forth, but this is the kind of analytics layer that's essential to making these capital allocation decisions more efficient, and so I think you could imagine a day at least for us in the not too distant future when it's not just US using our balance sheet in this tool to make investments, but in fact, just like excel, every investor can benefit from a similar level of analytics and transparency, as can companies by getting more accurately priced faster access to capital less friction so on and so forth. Get Lab commit, is! Get labs inaugural community event. Get Lab is changing how people think about tools and engineering best practices and get lab commit in Brooklyn is a place for people to learn about the newest practices in devops, and how tools and processes come together to improve the software development life cycle. Get Lab commit is the official conference. Forget lab. It's coming to Brooklyn new. York September Seventeenth Twenty nineteen. If you can make it to Brooklyn, on September Seventeenth Mark Your calendar, forget lab, commit and go to software engineering daily dot, com slash commit. You can sign up with code commit s E. D.. That's COM MIT S. E. D.. And Save thirty percent on. Conference passes. If you're working in devops, and you can make it to New York. It's a great opportunity to take a day away from the office. Your company will probably pay for it, and you get thirty percent off if you sign up with code, commit S, e. There a great speakers from Delta. Airlines Goldman. Sachs northwestern, mutual, T, mobile and more. Check it out at software engineering daily Dot Com slash, commit and use code. Commit S. E. D.. Thank you to get lab for being sponsor. The inputs specifically if you think about a model for determining whether or not, a company should should be eligible to receive capital. I'd like to know how the the models are built. The the data science models that you're building are constructed from the point of view of the inputs. So how are you determining or how do you like company comes to you? How do you turn that company into some structured form of data that you could put into your models and determine whether it's worthy of capital. Yeah I mean it comes down to what what the data is your down so when we talk to a system like striper transaction records system, you know that that's the revenue of the company now where things get interesting when we connect to balance sheets in penalizing, it's of accompanying really onto understanding. Weighing. What exactly these numbers mean, and that sort of where we made our pipelines were built from the ground up to give us that granular. Of A company's cash family revolutions. Where's the money going where they allocating? And it's savable greenway or you once. What do you understand that data through that Lens? That let's build pretty sophisticated financial models Linda. And you know as soon as you have the picture of Company You can really do a lot of flexible analysis on the back leg distributed computation. Come stuff that you would never be able to excel and quite frankly a lot of these companies don't have the stacking internally or really the tools to understand for themselves, so you'd be surprised it you know when we surface this analysis back to the company by virtue of just being transparent on how we're making decision how it is perceived their business, the signals that were uncovering. These operators the CEO's the CFO's that are really focused on building company. Really surprising. They're really making these insights really transforming. How they think they should have capital. Should invest growing business. Are there any? Sources of Third Party data that you can gather to improve decision making. There are at a macro economic sense, and so it's actually quite useful to look at public company performance and say hey. SAS businesses in general. Most people notice, but facilities in general are seasonal in the fourth quarter. Budgets basically expire and people come in, and they buy a bunch of SAS. Software and so to take concepts like that basically shapes of curves, signals and apply them to private company. Financials is useful. Crucially though there is no private company. Data repository of any kind like it just doesn't exist, and you know notoriously even even with small businesses. It's actually quite quite difficult to get access to any sort of meaningful credit data, and so, what ends up happening is these aw. These businesses. Give you a picture of their business directly as an investor and you have to interpret it directly, and that's basically how this works totally unlike consumer credit, there's no credit bureau that people paying so most investors are analyzing the state and excel. Excel notoriously breaks when there's about a million cells worth of data, and so we've got this great visualization showing our data pipeline, and it's basically a bunch of boxes, and there's a little tiny. Tiny box in the bottom of corner that's excel, and there's a bunch of other boxes across the entire rest of the page that are nodes in our in our distributed computations, but accelerate very very limited, and so it makes it impossible to actually understand what's going on in business from the source data, and it's at the source that you see this variability in this linkage between profitable capital allocation decisions in unprofitable capital allocation decisions. Describing more detail, the workflow so a company comes to you and they're going to put their inputs into the. Would you call the capital machine? What does that workflow look like in a little bit more depth? Yes when they come to the website, they creighton count much like you would on. Twitter facebook account. When your details your email, you terrify your email, and then you on what's recalling like the capital portable on there? You have et CETERA. Tools to connect your sins record and these are typical offload. So you know people are very familiar with you. You know you say hey, let's connect by quickbooks you in your credentials and sort of be as secure way, and you click okay and the system checkmark by your quickbooks in the system start pulling that data out of regular cadence and. Depending on what system you're connecting you of the characteristics of that's not go systems of record, and how much data you have you know. The data's available anywhere from ten minutes to a couple of hours later and you know once we have Dr. System, we run that through our partake analysis pipeline in the users as a company. You get you get charged. In Tableau kind of call it, the insight Saban's these refused that we think would be helpful for you as an operator company understanding about Your Business in separately. We also get views of that data that are useful to our our internal investment team. Whoever is looking to capitalization systems? Are there certain business categories that are a better fit for modeling in better fit for the kind of. Predictable capital returns that you can, you can expect with the investments that you're making so like you ride sharing or Gig economy businesses or some businesses. What are the categories that are the best fit? Say Very few categories don't shit from the from the perspective of of linkages, but they're certainly models at their easier to think through and easier to understand, but our our system can underwrite today A. Lease on a commercial aircraft, a fleet of ships and Insurance Agency ask company the most important. Thing about our system is that the financial theory that underlies it is very general, just like p. e. rate is very general, and so that's kind of sounds crazy like. A lot of. A. Lot of people say what what businesses the best fit for your your system and you know it's kind of like asking what businesses the best for Warren Buffett like Warren. Buffett is a generalist. In any business, and he has a framework in his own head to figure out how to make ship comparable to American Express our assistant has a very similar framework. It just operates at the level of transactions instead of at the level of financial statements, but certainly within. That framework there's some examples that are just easier describes I think like you know thinking through the fishing of sales and marketing something. That's a lot more obvious than thinking through like the stability in refurbishment of commercial aircraft parts, which is a key question you know. Pricing pricing refurbished parts, which is a key question if your financing commercial aircraft and Our team, the ambassadors that use the capital machine internally which we primarily do internally do a little bit of partnering with without the groups to to use this as well. These people are all specialists in some particular area, but it's crucial to understand. They're looking at the exact same chance as all the other specialists and all the other areas, so it's like literally the the Fast Company and a commercial aircraft will have the same series of charts at investors. Are there two two draw their conclusion? Is the question for Chris. Can you describe the stack of technologies that you built in more detail? Yeah Yeah. Of course on the front, we are react type script, xjs, you know everything is on aws, and in the back, and we're. We're all python, and in really the reason for that is if you're doing any serious machine, learning or data science today can't really get away in python stack, so we're all python them back in. We have flasks. As a as our API late here and That's the that's a high level. And get a little bit more detail about how the data science layer works. Yeah, yeah, yeah, of course, so we put on the dea into basically a data lake the that goes down into Ardito pipeline in that's all air orchestrated on top of each called airflow, and we use a technology called desk for are distributed computation, and I think that this is a good choice. Choice for us at this moment you know I see us doing a lot of work on. You know using a spark in other distributed technologies in the future and his team and it turns out that when we pull this data down organizing the data was really important to us as we build a lot of attractions to make accessing that data, really easy for quantitative analysts. Important central to our whole technology is that we're able to do a lot of different financials experiment very quickly on top of this so the the implications of that really cascade down all the way into. You know what technologies where choosing how we structure our delayed. Even even how strokes are teams, so it really is brought up locations across all product. How is it when you're analyzing company that you have enough data that it warrants a spark cluster because I can imagine? The financial data around the company. How can there really be that much data to analyze how you do surprised in a lot of these transactions systems taking up the companies have been around a couple of years and their direct to consumer. These data sets can be can be pretty large. You know we're talking about in the millions and millions and millions of transactions that were pulling down and storing. Storing and that just on a per company basis. You know that's not even talking about if we wanted to. Benchmarks Cross companies, and also if we want to do scenario analysis, so you know one of the things we was part of a pipeline is take this data, and through like nine ninety nine hundred thousand simulations to understand the sensitivity of different variables on the performance of Your Business and If, you're starting out with starting that already large. Sort of a multiplying effect. On how much data the system is the old process? is you go through those different stages? And, can you tell me a little more detail? What would a typical spark job? Look like for a company that you're assessing. Yes, so first episode is ribbon. Our our financial didn't ingestion parts, so we download something on the order of you know forty fifty bytes of Tim's action data for for a company. We have to do all the work to interpret and understand what that means in reorganized that data in a way that are downstream analysis and primitives can. Make sense of and use for useful analysis so really the first step at this point job is is transformed the datum some it's useful, and then there's all the work on what are the clusters in order to machines and analysis in the computational. Resources needed to run simulations. You know not not just say local computer locally owned of fall over the only about thirty to sixty four gigabytes of Ram what league, so that's where workflow comes in creating easier faces into data, clusters and being. Should you know when you run a job? You know when it fails. You know it's done. You know when the team can't okay. This part of analysis done I had intermediate date asset to do more analysis on now get back to work is a lot of the time we spend developing internal tools to make. One other thing that'll mentioned that I think's important is. A lot of the underlying technology in our data pipeline it's no different than like what a tableau or you need. Traditional BI business would have access to, but what's fascinating when you have a vertically specific domain so financial data in our case you can make a lot of interpretations about the date of the let you do much more intelligent things, and so for example we. Don't have to make your own charts as a user of the capital machine. We make all the charts for you can of course. As a business we work with. Give us ideas for charts. You can mock up your own. We we basically have an interface for for business. The I team's to to write some code if they if they want to bought when you have clients who are thinking about financial risk, financial attribution across all of the companies that we see distilling that down into a series of indicators that are detailed, but generalize -able, and then publishing that back to all of the companies that use the capital machine to run their own capital, allocation, decisions and access, external fundraising and capital. Some pretty amazing things happen in so it's only with a vertical view. You actually having these we, we call our data scientists Kwan's, but but actually having these people who you know typically are graduate level economists, thinking for the first time about using transaction level data in their analysis, which is notoriously not not available to to normal economists that you get the kinds of insights and analysis the actionable for businesses, and then in terms of the data pipeline that then means we actually store a bunch of intermediate data that's opinionated in that way, and that makes it much faster to access much easier to benchmark much more useful across a network of companies, versus just that isolated excel model that. Explains only one business. One thing I'd like to ask you about. Capital intensity so there are kinds of businesses that are capital intensive for example where you have to pay upfront for a lot of ridesharing rides, and you know as Uber or lift. His has known in much detail. You allocate all this capital two things to subsidize rise because you try to win a market, there's all kinds of other capital intensive businesses. How does capital intensity change? What makes sense with regard to the equity financing the debt financing that you are shepherding for these companies? That is a great question and be because of where you focus in your audience. You totally get the most financiers don't so. The first point exactly like you said. Capital intensity means a business consumes a lot of capital. It doesn't mean a business has a physical factory or plant or railcars, so it is absolutely true exactly like you said that there are a lot of tech businesses that are incredibly capital intensive. If you are capital intensive business that means UNI especially if you're growing, you need to raise a lot of external capital, and so it is even more important that your capital or a big portion of your capital base is not dilutive. That's that's just essential. Table stakes because what you see with these businesses, the ride sharing companies are great. Example is by the time one of these things actually goes public the early owners in the business on a very very very miniscule. KEESA that business, still if you contrast that to company like Viva Systems which I think is one of the most capital capitol efficient businesses in venture history, I think that this race something like twelve or fifteen million dollars total before it went public in a at a multi billion dollar market cap. So capital intensity. Is a synonym for dilution your own way less. Than you think when you exit entities even more important that you figure out a way to raise capital non ludicrously upfront. Some broader questions zooming out in in getting your perspective. Do a thesis for what is going on in the economy right now where you look at. The fact that We have. Obvious pressures to. Reducing the size of the economy through the lack of tourism, the lack of social gatherings while the stock market climbs higher and higher, and it appears that the technology side of things is almost unaffected by Corona virus is there. Is there a thesis that you've arrived at or or their set of theses that through conversations with other people, you've found most compelling. Sure the most important thing to realize about the stock market is that it discounts all cash flows from all businesses in the stock market to infinity, and so the value, the stock market about eighty percent of the value. The stock market is. Pretty far into the future like more than three years from now, and so if you believe that the current economic crisis and this is why there's always a. At least in the Western, world, last two hundred fifty years after an economic crisis. If you believe the crisis will eventually revert, and there will be a recovery, then it only makes sense discount stock market assets by anywhere between ten and twenty five percent. If you believe businesses fundamentally going to go out of business because of this crisis, that's a different story, but that explains why something as terrible as Kobe nineteen and a pandemic. Only discount the stock market by by roughly thirty thirty five percent in a in March, but that's not what's actually going on today as you mentioned and so stock market prices now have completely recovered. That is something that we think is a little bit of out of sync with reality but I. I mention you know we're not. We don't spend too much time about the stock market beyond that we just look at you. Know Private Company fundamentals. We try to understand what's actually going on in individual businesses across all businesses that are network to see what you know what we can understand, and you know what kind of conclusions we can draw, and so if you take that Lens and you actually look at what's happening to businesses due to Cova nineteen, it's fascinating. Some businesses like think the food delivery space have gotten a lot more efficient, so those businesses lot like ridesharing businesses back twelve months ago, there was sort of a bloodbath between bunch of companies competing in local markets to acquire customers all all fighting Google and facebook console, and so forth you subsidies drivers, etc.. That's essentially stopped. These businesses incredibly profitable, the cost acquire customers has fallen by more than half a lot of cases. The channels were slot less competitive, and so if you're running one of those businesses. Now is a great time to be aggressively expanding. Weird things like commercial construction businesses. They're actually a handful businesses that we've seen do things like install windows and doors and commercial buildings whose businesses have accelerated because all of these buildings are closed down. Construction project timelines have gotten pulled up. All of these orders are coming. Do in they're you know sort of rapidly doing it solutions? There's obviously a bunch of other businesses have been that have been hurt by by the pandemic, but our general thesis are we've studied. Pretty detailed way the Spanish flu in nineteen eighteen, you know. These things eventually go away. There will be a vaccine. Economy will get back to normal, and as long as we can stay focused on working through this as as a society and of maintain our our fabric of of kind of economic progress then. DESAGUADERO values today will eventually make sense just sort of a question of of win for the stock market, and then if you're if you're actually running business in thinking about your own performance in isolation, really being clear about is now the time to invest and grow my business now the time to be very careful with my expenses interest, get through this for the next year or however long it takes for there to be a vaccine. So the way to think about your company, if I understand correctly if I was to to put in a nutshell, is that. I think of you as a data science middleman between large capital allocators, and and start ups deserving of capital, so the the sovereign wealth funds the banks the I guess. Funds of funds. These kinds of sources are essentially looking to you for guidance on where to direct the capital, and you're on the on the other side, absorbing data and creating opportunities from these startups to source the good directions of that capital. Just wrap up. Would you put any more color around that description or or refining anyway. Yeah I mean I. think that at the core of what capital is is where the. Core Technology Ambler of sort of. The private market if you think about public markets today, you've clearing-houses like the New York Stock Exchange, and you have companies that provide analysis on top of that like Bloomberg, you know we see a tremendous opportunity to shift the paradigm where you know the place where all the financial transactions happen. is also the place that collects the data improvise information for those making these decisions and yeah, so I think capitals really at the center of making a transparent technologically enabled financial marketplace. Guys. Thank you so much for coming on the show and discussing capital, and I guess one last question is. Do you have any predictions for how capital allocation for startups will look differently in five ten years? Sure so! The first prediction. And this is happening now. I mean the the infrastructure is. In place both within. And others. Most startups fairly early in their life. Think is equity only way to do this and. So. That's a cultural shift. That's that's already happened. People are starting to ask that question. The second prediction is. Seed and series a funding will be entirely unchanged. After series. There'll be a bifurcation between businesses that. Are Really. Capital intensive gigantic rnd projects think like SPACEX. The series, B. C. d. e. enough are really about building and launching a rocket. Those businesses will by and large not. Turn outside of equity to finance themselves, but there's very few of those businesses. Pretty much every other business businesses that you see raising a series B. Serie C. Will like any normal business in the entire rest of the economy raise maybe half of that capital nine allegedly either in the form of debt. Royalty financing factoring all of the other instruments that normal companies use to finance themselves in the void delusion that will happen roughly three years her. Now that'll that'll kind of we'll see obvious obvious signs of that from very early very early base, and then the final the final thing is. Steve Case talks a lot about this. With the rise of the rest, he's got this great venture fund that invests explicitly outside the coast, so kind of the rest of America and we've seen that there's there's a pretty dramatic distinction between being a coastal business non-coastal business from capital access perspective, but there's no distinction from an actual performance perspective, and so we'll start to see some of the regional. Differences in bias sees around where capital flows, go away. And so I would maybe put that on a five year timeline like raising capital is actually much more predictable, much less biased, and that's great back to the beginning of our conversation. That's great for the economy I mean every project or business that can convert capital, two products and services that people love should get finance. No questions asked doesn't mean it doesn't matter what the color of your skin is. What background you have whether you went to college didn't go to. College doesn't matter. You have a business with data that can prove whether people love it
"draper" Discussed on The BosBabes
"And so that's why I started the drapery agency five years ago, like how you're giving back to the community and how you can help others and harmful such a positive influence. How can people reach out to you if they want or have questions about becoming a journalist or dropping this vehicle career wanting to do the same college is there like a website people can check out obviously, I like that it is there like an email that people feel that restarts. Why basically how do people reach out to Kyle's work there if they have questions or want to be involved with birth. You take her issues. Well, you gotta hit us up. Obviously the Draper agency, We're also on Twitter on Instagram as well. You always email me. I'll at the Draper agency, as well. And so and of course, you know, I've got my own self, you know, my Celtics account that I run with NBC Sports Boston Kyle Draper TV on Instagram and Twitter as well. I'm acceptable Grant, you know, do you know how old is Rae? I'm going to be around right? You know, it's easy to get a hold of me. So just hit me up Lovey Good Vibes. And again guys, you know box games are all about Good Charity getting back showcase and how people perform on and off the court. So let's talk a little of your charity. I know you love helping out kids and you are involved with wanting to Iraq racism. So how are you involved with getting back to the community with those types of topics aside from Draper agency? Obviously, I would try to be an exam. For out there in the community try to be a role model, but you know when talk about racism, that's something so timely right now so near and dear to my heart and you know, I've experienced it first happened, you know, I was on a panel a few weeks ago in the town. I live in and we had a Frank discussion about diversity and racism and I tell people all the time, you know, afro-americans black people whoever it is minorities who want the same things as everybody else, right? We want to live in a safe environment. We want to raise our kids. We want to make money by working hard. We want to be treated equal. It's not that much people are asking for out there believe it or not. And so, you know in a ways I'm trying to help that as create and stimulate dialogue, you know, I'm always open willing to wager guys, you know, racism social justice issues and then when it comes to kids, you know, I have a soft spot for kids. I just feel like I naturally gravitate towards them and so when it's cool, yep, Me to come speak or church or group with me to come speak. Those are things, you know, and no hesitation. I'm always going to do it then, you know, it's it's something I get as much out of it as they need to and so, you know, I'm a terrible, you know, if anybody wants me to come by and speak to their group or anything like that, you know, I'm more than willing to donate my time and whatever causes out there, you know, I just want us all you know, I should be treated equal treated fairly. You know, it's interesting. I mentioned I grew up in Philly mostly black neighborhood 99% black, but then I went to school at Winona State University about ninety nine percent Caucasian. And so, you know, it doesn't matter to me, you know, the color anything I recognize everybody as individuals and that's the message. I'm trying to get out there. You know, we all thought the same things right going to be healthy. We want to work hard. We want to pay our bills. We want to be safe. We want to raise our children. I mean, we all want the same things breath and that's what I try to put out there. I love girls. Positivity, I love how much you give back to the community. And how available is you are two kids people my age wanting to help out 100 and right. Are we in the same age demographic there? Maybe not baby. I'm not going to reveal my age. You are amazing before we wrap up here guys. You are listening to Kyle Draper took her very much that but he'd say Boston Celtics amazing sports analyst for NBC Sports. He's had a long journey to get where he is now in Boston as many Sports reporters to talk about the amazing opportunity to listen him talk about his great journey tonight on the Boston was please subscribe to our show and add us on Spotify iTunes. Well, we like to do her own boss Kyle. I'm going to leave it up to you positive pop. Give me a positive mantra. What is Kyle papers positive pop up your feeling down if you need something to pick you up. Kyle Draper is positive off. I always like to remember no matter what's going on out in the world. No matter what's happening in social media. What's happening on the news? I firmly believe there are more good people in this country in this world than bad. So don't let the negative get you down there more positive things going on in this country than negative life right now. And that's something that's so timely Britney something. I always try to remember. Amazing positive hop for Kyle penis would be weird. How can people find you on social media that way people can reach out to you if they want or follow your creative keep up with what you're doing. What is your social life? Obviously, I know we got all my channels you rock. Thank you for that. And I would say you guys listening you know that I'm also involved with the Boston Celtics as well. I was super bummed. I know you this but I'm on for a host or the yeah. I saw I was like dude what the heck I have to wait until like walk on the court have fun. So where can people find you on social media to slide near Dia. Dia for you. How you hit me up on Twitter Facebook Instagram. Snap. I'm on all the social media channels Bradley. I do have one thing though. I gotta ask you. Can I ask you one question? Sure. Let me come back. I don't know if you've seen this right here. If I see I like that if I send you my will you rock it? Will you rock it one day one hundred percent. I love that. I will actually brought that on the court for the Maine Red Claws. Like it's I don't know. It's like a cute little topic of what is 100. I will drop that on the Red Claws Port. All right. I'ma hold you to that. Okay, Jose returning to the box and you obviously, just listen to Kyle Draper you guys rock check them out on social media and good luck to the Boston Celtics and we cannot wait to continue to follow your career. Thank you so much for joining me today. Thanks for having me. Thank you guys. Don't stop song..
"draper" Discussed on The BosBabes
"Song high on Draper. You guys know what I'm from. All these Sports Boston is everybody's favorite Celtics analyst so let's get kicked off Kyle. How are you? Thank you so much for joining us today on boss said what's up ready? I am doing well excited to be here with you excited to talk sports entertainment. Whatever you want to chat about. I'm ready for I love that. I your attitude. I'm so hyped up Thursday. We obviously watch you on T all the time. You know, you have a great personality. So I wanted to kick us off right off the bat with a fun interesting story. I know you have just lately talking about a fun story page sort of running. Let me to add something going on with real and tell us about that. Yeah, so, you know, as you know, Brittany when you're in this business, there are certain stories you get super excited for right? You're excited to cover your exciting job. You on the front lines for me. That story was right. Now. I'm going to the Miami. He was supposed to have his introductory press conference in Miami. I think it would have been a Thursday or Friday and I was scheduled to fly down Miami to be at this press conference to grill real student. Why did you sign with Miami? Why you leaving Boston? So my boss sends me down there and I think my flight was like 7:00 or something like that down to Miami and usually I'm on time for everything. I hate being late. Well this say I actually cut it a little too close. I arrived at the airport and they may need to let me check in. I think this might have been before I could check in on the phone or something like that. They wouldn't let me check in because they said the fight is leaving and 1/2 hour you don't have time and so I'm thinking of my cellphone number if fire on it down supposed to go interview way Alex. So I wound up missing my flight. The press conference was scheduled for 10:00. I was supposed to land at a wage. Like sweating, you know, I'm nervous a call my boss. Say hey, I miss my bike. The next flight out was until like 10:00. Fortunately Britney the Miami Heat pushed the wrong conference back to like 1:00 or 12:00 or something like that and actually got down to Miami. What about 5 minutes to spare before this press conference begins and was so crazy. It's crazy Russian. They're more. Hi. I'm all sweaty is South Beach is Miami but afterwards I get my one-on-one interview with Ray Allen and it's crazy because people don't see the behind-the-scenes stuff, you know quite often job all day long. I'm nervous might not get this interview with real but later that night on T. It's like man, there's tile chatting it up with Dre. So I've got good that I've got it done but inside Bowers upper ball of nerves. I thought my career was over. I thought this was going to be it. So we've had a number of stories like that, you know their stories about t g I could tell you stories about co-worker. Is maybe I have to save it in a book though. Oh my gosh, that's something interesting story, especially at the start of your career. I would definitely be sweating bullets to one. I'd be nervous because I was going to be thinking that I'm missing my interview. I'm in Miami. I don't know what's going on. So I completely agree that I would be sweating bullets think that what you missing this interview, but it sounds like everything ended up working out in your favor. And here you are working for NBC Sports. So obviously you did something right down in Miami exactly, you know, and I'll be honest pretty that's sort of been like the story of my career, right? It just works out wage, you know, obviously I put in the work I work hard. I'm dedicated to my craft but you know, I've been blessed. been fortunate that things have just sort of worked out and here I am, you know, what eleventh year now in Boston covering the Celtics, I mean as a cured from Philly, I never thought I'd be in this position. I'm so excited and just like I said blessed to be here right now. Book about growing up in Philly. You guys are not listening to Kyle Draper guys. You all know him as NBC Sports. He's one of our favorite Celtic supporters. You guys see him on the sidelines Thursday have anger in behind the sports desk. So again, thank you so much for tuning in guys, please subscribe to us on Spotify and iTunes and Kyle talk to me about Philly. So you're not from Boston, but you're obviously covering the Celtics were to get into that later. But what was it like growing up in Philadelphia paint the picture of how it was with your family as a child. It was awesome to be honest with you. So let me describe my neighborhood to you in Philadelphia the row homes in Philly. So all the houses are connected stuff together and well my block. I was June 3rd house, but the first five or six houses all had young boys them kids just like me, so I didn't have to go far to make friends. I didn't you know, I never got bored in the neighborhood, but I just walk right out my front door and my neighbor title would be there my next door neighbor run-chase. I mean the whole neighborhood and I do remember one story. I gotta tell it because this is back when a neighborhood would raise a kit, you know, it wasn't just all your mother a father to raise you it was on the entire neighborhood and I remember I was probably like thirteen years old school blocks away from my house messing around with my friends and this older lady walks by and she has a cane and then dumb and young like I was at the time I saw her acting like I had a dog Right behind us, you know just know mess around being stupid. Right? And so one of the older guys happen to see me and he went back and told my head now my drop off box away from home. I think I'm safe. like, hey go by going to do anything to me. I'm good. So by the time I got home, my dad was ready for me. You know, I'm not going to do anything like that, But he was he was not happy with me to say the least and so that's how I was growing up in Philly and it was a neighborhood that ratio. It wasn't just on your mom and pop, you know, you know, the neighbor take yell at you if you were doing mess I was until it a great time though, man. I miss Philly a lot. I love it you grew up in Philly. It sounds like you guys were very tight-knit Community. You had a lot of friends. So let me ask you this question. What was it like during the holiday season with your mom and dad or whoever you happen to be growing up with did you have like a favorite food that you like to make during Christmas time? What was what is your favorite Christmas song? Just that you got is a child if you celebrated that holiday, what was it like during Thanksgiving paint that picture of Kyle Draper as a child growing up in Philly. So people know who you really are off the court house. I'll tell you straight up. So my favorite gift as a kid was a brand new bike. I walked into the dining walk right past the bike. I'm looking for the president and and it's right there behind me. And I totally missed it off about holidays with my family and filling let me just say Brittany. So my mom has four brothers and sisters. My dad has a total of 15 brothers and sisters took we would all get together. Can you imagine a house with that many aunts and uncles so in the morning we go out and visit my dad's family in West Philadelphia. They're beyond all those cousins grandparents. I mean, it would be crazy and then we go visit my mom's family and especially on Christmas day was a tradition always to watch the NBA. So we did at my grandmother's house hanging out off. In basketball eating food stuff in the face, you know, my wife jokes, like when she goes back and visits my family, there will be four people sitting in the room, but there'll be like multiple conversations going on across each other. So it's not like one person talk in the next person talks know everybody's interrupted each other. There's two or three conversations going on at once. It was a party every time we got together. No.
BrainStuff Classics: Does 'Power Dressing' Actually Work?
"Brain stuff learn bomb here with a classic episode from our archives and from former host Christian savior this. This one was inspired by a book. Christian ran across about how to dress for success. It got him wondering can power dressing really make a difference socially or psychologically below their brain stuff. I'm Christian Sager and I've got a question for you. Do I look powerful. Well I I know you can't see me right now but I feel powerful. Some people even think that what you wear can produce this kind of confidence and who doesn't want to feel good about themselves. So what is this power dressing? And does it actually work well to answer that question? We have to take a trip to the smooth nineteen seventies when a guy named John Malloy came out with a series of books about dressing for success. He prescribed a uniform of sorts for both men and women. That would help them. Achieve Greatness in business professions for men Malloy recommended conservative business attire. That was high quality and fit well essentially a business suit in dark hue with a modest white shirt and a tie. Think Don Draper for women. He adapted this uniform. To include a skirted suit and a soft blouse with floppy or bowed. Neck pieces think Margaret Thatcher in order to achieve the kind of authority of the Iron Lady Malloy recommended. Women do two things. Don't look like a secretary and don't look too sexy. You couldn't wear waistcoats or contour jackets. Because they drew attention to the bust. Scarves were popular because they drew attention to the face and away from the breasts and floral prints and feminine colors like Salmon. Pink were out. But you didn't want to look to masculine either. Hence the skirt instead of trousers. This was the birth of power dressing and by the nineteen eighties. It became the way enterprising. Women learned to manage or limit the potential sexuality of their bodies and leave all that gross girl stuff like cooties at home but as they entered the corporate workforce in ever greater numbers. Some women wanted to modify this uniform while maintaining their professional appearance. One alternative model for breaking out of these fashion limitations was Princess Diana with her more glamorous outfits others were on TV and shows like dynasty designing women and Moonlighting enter broad shoulder pads wide lapels and a wider range of textures colors and accessories. Cut to the present day now. Most of these fashion fads have come and gone but you can still see their influence on politicians. For Example Take Hillary Clinton or Donald trump many of the tenets of power dressing are still employed. Today we just don't call it that anymore. But a twenty fifteen study reexamined the principles behind power dressing. It found that putting on formal clothing does indeed make us feel powerful and even makes us think differently. The authors of this study tested student participants in a series of experiments by rating their outfits and taking cognitive tests when the students switched out of sweat pants and into the kind of clothing. They thought they should wear to a job interview. The tests showed their cognitive processing became more abstract broader and holistic the authors. Also say that how often you actually wear. Formal clothes doesn't matter regardless of when you wear. These uniforms have become a symbol of power. There have been other studies into how clothing affects our cognition to for instance. When people wear white doctors coats
11 Trivia Questions on TV Bosses
"With buds dot com and it's clicked. It's clinical in the show notes so go to the show notes given a nice click and go check it out. Today's episode is a fan made episode from Luke McKay. He is a Patriot subscriber. He is a buddy of mine and he writes Great Trivia. This quiz is called. Tv bosses. So I have eleven of these four U. Eleven. Tv boss questions. I'll give you the boss's name you tell me what show they were on? And who played that boss? Who did the voice or who played in terms of acting on the show so your name the boss and the show came. It's going to be a fun one and we're going to jump into it right now eleven questions on TV bosses here. We go all right. Everybody here we go. This is round about TV bosses. And here's number one Jack Donigi number one jack. Donna gig remember. We're looking for the actor or actress who played the role. And what show was on number one Jack Donna number two Michael Scott who played that loss and what show number two Michael Scott number three C M Burns number three C M Burns whose that TV boss number three number four Leslie Nope Leslie nope number four number five Miranda Bailey number five Miranda Bailey number six Selina Meyer number six Selina Meyer number seven is Don Draper Don draper number seven number eight? Olivia Pope Number Eight. Olivia Pope Number. Nine Phil Colson number nine Phil Colson and number ten Raymond Holt Raymond halt. Your bonus. Question is the name Mallory Archer Mallory Archer name who played Mallory Archer. And what show as you did for all the other ones. That is your quick quiz on. Tv bosses we'll be right back in just a second with the answers. We are back with the answers to TV bosses. Let's see how you did on the short quiz from Luke McKay Number One Jack Donigi that was Alec Baldwin on Thirty Rock Jack down a game was played by Alec Baldwin on Thirty Rock Number. Two Michael Scott was of course Steve Carell on the office. Steve Carell on the office. I mentioned that the other day but go look up the some good news video with John Krasinski. Or He's doing a news report of good news from his house and he does a quick skype. Call with Steve Carell. It's pretty great number. Three was burn. See Montgomery Burns. And that was Harry. Shearer playing Mani Burns on the Simpsons Harry Shearer and the simpsons number four Leslie note played by Amy Poehler on parks and REC. I mentioned I'm binge in that on a recent episode. I love watching the old episodes of parks and REC number five.
"draper" Discussed on Mission Daily
"And I think they realize that you see yeah I think it was a very important thing to teach lead leaders because it's all about leadership and business business and and and the military not all that different sure. Yeah and and and the thing that was so interesting to me was is like this idea of like an alumni network and like having a lower and having history and like having that stuff matter and like it's not always good or bad it just kind of is what you know the history is and I'm curious like both of you have bill. You know families that are successful. I saw that are ingrained in business. Having a legacy building organizations that are still around. I mean the fact that you're companies that you built are still around so so like inspiring and remarkable. I'm curious how do you view building for the long term building. Something that endures rather than building for a quick exit ed or a quick buck. The best answer to that is that you WANNA have a vision vision of The long term and despite I mean with with that you also need the ability to just meet your opportunities and and avoid the risks and or take the risks That were important to get to that long-term envision but not concentrate too much on just having to UC. You get to that big exciting future before you take one step at a time because you you know Climbing a step stairs you you take the first step and you gotTa keep concentrating making sure you don't fall on And the next step so I I would say that it's a combination of our vision of where you WanNa get to or or at least some vague idea of where that is and very precise following day by day day. Whoa what the next step? And that'd be my my answer that so I I've got to ask now before I forget Pitch you mentioned your father was an Olympian and bill. You mentioned your father help create an administer. The Marshall Plan that can be pretty intimidating. I mean I I would imagine I'm curious to know what was that like question like and inspiring definitely and partly how can I live up to that And I pursued a completely different kind of life in my dad. who was a coach? Both it wasn't Michael Stanford that was I was later but at at drake any built in things you probably haven't heard of but it was very important but I am. I would say it's a combination and when I when I realized I in my late in my college running crew writer athletic scholarship novel fee rides thing but I realized they. This isn't gonNA work. I'm not going to be Iranian national meat and got fourth and they took three guys on the international circuit. So you know just as missing I was I. I was a B. Plus instead of an A. A and but my dad never pressed me. He never made me feel like it was he was great because because he He wasn't Olympic champion ether. By the way he went out in the semis because he hit a couple hurdles but that was a very good perceptive question. But it's a mixed mixed mixed feeling but I love my dad. He loved me. Made me know it and feel it and never made me feel like I wasn't making it At I bill can speak eight for his dad but I knew his dad very well tremendous wonderful person. Yeah I I was never had the problem of thinking about about competing with my father. He was hugely successful internationally. As I say ran the Marshall Plan and I But that was only one of the steps in his career and he was pitches that never a looked at me with the idea of. Why don't you do more than you're doing? And in fact it was pretty funny. I hadn't seen him for a while and he came and I told him that. These little investments. That's the way it made here. And he had started also here so he knew about that but the say so he came came to me had seen him for a while. He said well. I guess that makes you a millionaire. And he seemed terribly shocked shocked and I thought no really. It was pretty easy out here and I didn't think much about but he he He was one of a AH really superstars in the diplomatic world and a ever since knowing some of the the things that he had accomplished. I have That yuck factor myself. What a wonderful One what a wonderful family I ended up in. Yeah you know so we. The part of the reason that we're connected is You Know Sasha Uh is super passionate about the veteran community and the immigrant community immigrant veteran founders ball. So we I just had Jesse on one of our other podcasts earlier this week yeah she did an interview for her for other podcast the journey. But it's so funny like how small of a world it is. And why did you look at me when you you said that. But I'm curious like were there moments you throughout your career you know you look back and just realize how small of a World Oh this one thing that you you did this one time. That came back to either haunt you or to help you that you know behaving in the right right way. I mean it seems like you couldn't do what you had done if if you weren't onto bill. Draper has never disappointed me by his behavior is honesty is doing what he say we do. Not doing saying he would do is just and I and I believe I think I've tried to be that Eh. When you're a partner you affected by that other person? I was affected in a positive way but on the other hand. I don't think my parents would have put up a me for a second ED stuff. So it's important that you behave and I've been shocked as we all have by some of the the news about famous people lately share and I suppose I was aware of all that stuff but I didn't pay any attention to it. I'd love to hear to you mentioned Leland in Stanford earlier and Don Valentine and folks like that Don value and I would love to hear was. Is there anyone else that you too drew inspiration from. Obviously there was. was there anyone you worked with closely early on in your career or maybe for a long period period of time that you feel really helped you out. In my case Pitch Johnson was was a big help and we were good partners I together and and his friends and my friends are the same now and a very very big impact. Act Me but You know going back there. No doubt my dad was my biggest inspiration and my and my wife. I turned turned out to be Jim. I tell you that story. I was on a boat going over to Europe and I sat woman talk Who I knew at Wellesley Says look up the Culbertson sisters and and I stood in line that I felt was for food. Who'd but it was for deckchairs and these two girls in front of me said stood in front of me and I said by a chance you the cumbersome sisters and they almost because they they they were and so we got deckchairs chairs together and Before the trip was over. You won't believe this. My Wife was wearing another guy's rang and I asked her to marry me on the trip about six days hat much longer drawn out where I had three major my studies and my Ed fraternity and my trash being on the track team. We were close much closer team than they are now but anyway a so. I told the guys on the track team. I don't know any do I got in Harvard. Business school it only goes back east but I met east of Reno is what I really meant so without going. Thank you all the things that one guy gave me Cathy's name and So I lived in New York ORC and so I we went down there one weekend and I called her up looked in the phone book in those days. Dad's name and and I said can I come call on you. I thought I'd better go have a look before. Ese astronauts so we As and will it wasn't fast at all but we dated some but we were in New York and then in those days when united to go to come visit you he had to find a place for her to stay is house naive but that's the way it was and so I was a hotel in Cambridge area which she could stay and so so she invited her up and she and I go down there and and I went in that when I went in the air force I this I don't want to go through the whole thing but it took us three years to get engaged and I was. I was working hard on that. Didn't get much acceptance to start with persistent. Furner took me five five years to get engaged. Some right there with you gotta be persistent Do you I mean looking looking back at some of you know you talked about how you fell Towards towards your father's but how do you how do you instill kind of that feeling of support and whether it's to your family members or to other founders. I think that one of the things is like going Building a business is a crucible. It is really hard and sometimes it just matters to have someone in your corner and when that person you know is the one who gives you the money Johnny and they believe in you. How did you support? You know the people in your lions particularly good at that so I'm waiting for the question to him. Sure I'll answer it too. Well I'm not sure because I I have three kids and two girls and avoid and to be honest they just show. Anyone is a very successful actress and and now is produced. A movie is GonNa going to be very good She is I mean it is very good and you'll maybe see it. She's trying to get distributed now. polly draper becky draper draper is a very active in nonprofit work in San Francisco area and Tim Draper I just. I don't know people tell me what he's doing because he's off in quote is in Quebec and Portugal and the axes and very hard guy to keep up with so And been very successful in his school as well as is corporate life so my my feeling about that is not you just do so much you and by the way I take take credit for all the good and don't listen to the band and my wife does deserve some of and so the two of us you know. We're very lucky. Because we got kids who are independent and very Strong and in their attitudes they hadn't I don't think they ever had ethical problems that I know of him. And he he tim You know some somebody that I'm really very proud of and the two girls Equally more so so anyway..
"draper" Discussed on Mission Daily
"That the defense community unity began investing here and then venture capitalists came But I would love if both of you could take us back to the early days and maybe share some stories or paint a picture for what it was like up here but I was. I went to school here. Both high school and Stanford in Nineteen fifty and then after that it was Harvard in the Air Force Bush. So I think I'M GONNA ask Bill to start with earlier times. He a few years ahead of me. Living here yeah. I was lucky enough to have have a father who he ran the Marshall Plan at one time and Averill. Harriman suggested that he get an assistant. And so he got a deputy Fred Anderson who was Suggested you would make a good partner for him and it turned out to them work together on the Marshall Plan for about three years and then and then they came back to the United States. Both of them new northern California. My father had been an investment banker and he worked on the financing of the Oakland Bay Bridge. And so that's how he knew. Northern California and Fred Anderson was in the Travis Air Force Base up few miles north of Mackay San Francisco so the two of them knew they wanted to be in northern California because speakers. The weather all of the rest of US moved out here so then I was lucky enough to be asked to be one of three or four young guys to start the first venture capital company at West of New York. I really really didn't know beans about anything except I when I got here I realized this was heaven and it was not hard to imagine that it would be a lot different in a few years than it was at that the time the the there were a lot of Orchards fruit orchards and was very they error. Barnes and there was a Palo Alto and there was country mountain view and that was country. Then there was Sunnyvale and it was country in San Jose and It's it's that's one major. Yeah different definitely. We would look pitch and I would knock on. Doors might be a barn door but it says something electrononics on the door we would knock on that door otherwise born go so And you you ask to see the president they said well what do you do are you. Were venture capitalists and and they said well is is that trying to the president who had come out here what we do is. We'd say eventually that we give money to companies that he was out there in the second as soon as he learned that and then size the people up and took time to to research and look learn a little bit about the industry that they were going into and then and And then we would either lay a bet down and say okay. Let's be partners negotiated deal and a or we would say thanks but no thanks and we had a lot of fun. We we rented rented a blue oldsmobile. I think at Pontiac and we That's right and and you know Macomb Kamini more right and they don't make much many of us in any way we've we had one hell of a a good time and it was fun to be a part of What has become Silicon Valley and Very we didn't back the very the the reason it's called Silicon Valley silicon that was made by child. I thank Initially and then Arthur rock was a fine. Financial International guy was out here very early to and and anyway we have. We just had a little club by that time of people Chirac had ourselves and a few others. We had a dinner in the city every month or so and it was is twelve people. All venture capitalists and about four or five of those are real estate guys but they call themselves. I mean it wasn't like technology breath and so we would talk about deals and what one characteristic was much different was very easy to get into deal. If you heard somebody who's doing a deal. They heard you were and you because your reputation was you'd help with it. It was very easy to get involved in dealing later on. That became more competitive but in those early early days in the early sixties. I remember the dinners very well and Very little money and very few deals is the way I characterize it Yom curious one of my friends has a multi generational family business that his grandfather started and he said that a lot of the times they were. You're in the early days. Just like figuring out a way to do deals with their friends because they were like there was just so few people around to do business with so it was like you'd be totally different types of companies. But it's like Oh hey I know that you need some extra money to buy that to buy that space all. Lend it to you and things like that. I'm curious like what we're founders like back then we're entrepreneurs different than they are now or was it. Was it less formal. Was it less. You know I would say Xavier Amazingly alike beer people mostly men in fact it's still mostly member hardly any women back then now. There's were involved in several women entrepreneurs enterpreneurs but they they have A Vision almost always of what someone might want and quite often male technology idea that they they decide could be people could be made to wonder or they would want it but some people start off with technology on their brains but the guys are the best ones that have markets on their brains they they said what would people like to have and That has not changed very much I would say the Willingness to step out on your own or with some friends though the difference is now is much more money available but step out and take the risk realize that you don't know what's is going to happen and when bad things happen then you have to be you have to suck it up and get through it. That is still the same now. These young companies somehow know thirty forty million dollars to start. They don't have that problem but they could blow it what they blew their money's the same problem so I'd say I'd say market oriented vision. Good knowledge of technology and billing believes again a bunch of people together work together. There wouldn't be Silicon Valley. I don't think with UH STANFORD UNIVERSITY I try to point out every time I talk about what happened in the early days because the engineering vision of Sanford was second to none in the country. Entry the other thing that happened Sanford there was a guy who is a provost of Sanford at the time time and I'm trying to think of German. Yeah sure if they're doing when I was in school and later on became provos but he was a super dean that you could go see. We're GONNA get it but you could see within a couple of hours. He wanted to have the students come see Liam and he did was the one I think I give credit to anyway who realize that these engineers were grinding. Any out of Sanford needed financing to start the business if they wanted to make the product that they were on it and so he he was smart enough to put for instance. I was with the first venture. Capital Company Draper gaither Anderson And he put us on the Saffir campus. Sanford had nine thousand acres are no nine. How many the huge number nine thousand or something sure and a huge empty area boat anyway rented they they they didn't sell any land ever? That was Stafford's requirement but but they Ninety nine year lease of uh-huh. That's what we had a draper gaither Anderson which was a for the gaither in. That was a lawyer who is very fine man in San Francisco and and my father and Fred Anderson and anyway they they had a A way of the people came to us because we were the only game in town at that time. Now is the other way round. I think the venture capitalist. I have have a tougher time. Finding good deals and there are there are probably more of the potential With the talented talented surround here but but there was less Anyway today I think it's a totally really different world and Silicon Valley is known in Paris and Germany and all over the world. So it's been an essay. Brian and I still I totally in nonprofit work also venture capital draper Richards Kaplan is no is known for venture like eels The help people in Health Education Gatien Environment Writer. So that's the story keeps growing and this part of the world is well it's well L. Noun around the world is I think is just beginning. One thing that was true than people thought if we build the big company a good company we can make some money so but they build a big company and build a good company came first their minds nowadays people. I think focused on making money and not on what they're doing so I think it's been clear that there was some good returns. Some good deals people lose money looking for work all over the world and they began to see the rates of return that investors got in in in deals and so- the venture capital firms were started We had a private one of our own without outside capital but the B and they began to make some money that attracted attracted more and more money and then it. I'll skip over the Jenner over decades. But now you have literally billions maybe twenty billion then zooms years one hundred billion will come into the business. Some people call a venture capital. But what they're they're bidding up. The prices of these private deals in either UNICORNS and the a people will invest one hundred million at a two billion in January hoping it will go to two and a half three and or more likely seven billion but close to it and hope it gets up over a billion but I think the thinking is more financial than it is building the business working with entrepreneurs figuring out markets. But there's really no sharp lying between what I call venture capital and it's all called venture capital by the way but I feel cynical about there's nothing l.. Legal or wrong. You make an honest buck great but it it. It's changed the business and changed the way we think about foreign companies. The the thing that I think is so cool is just how clear both of you remember the people that impacted you over the years and like how you talk about building companies and founders and entrepreneurs of names. I think one of the things like looking back on your career that I think a lot of people you know. Focus Focus early in their career about the money that they can make but they don't realize that you can make a friendship to last sixty years or you can make a business relationship. The last forty years or that that these things come back over and over and over again and like people talk about building a network like you just go to some social events and have a couple of years or something but it just seems like you really both have cared about the idea of building a market building in company building something that creates opportunities for a lot of people which is Kinda why I could see that you'd be cynical about how money is invested. Now like cynical isn't quite the right word. It's just that okay. Different a different ways this sort of not less pure because people money's looking for work right and they've tried to find some place they they make Alani only make making money for others in. That's true but I I look down my nose. Editor is different. And I don't WanNa do that. Yes so then. And what's so what was so an even going back to those original deals that you're doing with draper and Johnson or whatever we talk like there's all this content and things things about diligence and what goes into diligence..
"draper" Discussed on Venture Stories
"Ah I'm speaking very much as a finance person but like I. I think that I mean it. It's show value. It's having a friend. Say you need this. It's like all of those things and do you think it startups relative to income like facebook. A Sony Netflix Microsoft. It's like how do you think about incumbents for startups in the space so I think startups have an edge right now because the all venture capitalist think about is like Ken this start up a game. Distribution faster than the incumbent can innovate incumbent's aren't innovating much in the VR AR space be. They don't believe. The market's big enough. I believe the market's going to grow insane in the next year. And so that's really what we're figuring now is like how can they out distribute the incumbent. And how do you think about timing like. Are there things you look at in our area. There's just too early come back in two years. How do you sort of timing usage and how do you yeah? They're sort of becoming standard like language that people are using for. This is a good APP. This is bad APP in. It's like are they coming. Back weekly is good sign because of most people so you don't use VR weekly. So if they're coming back weekly great are they making money. We've companies who are making millions of dollars. It's good for any business task benzes we've SAS and we have consumer so we both sides making in the millions which is crazy. So I'm I'm sitting here being like like okay. I I see everything like working when it sees need to see the need to see a work. So that's for venture capital as a whole Globally is still an expensive pillow swallow. So if we're expecting to be hanging out with anyone in emerging markets or anything like that like on the mass adoption scale it might need to get cheaper but iphones everywhere totally what was put on a flash in the PAN as and we see other mobile a are. Greg wasn't castle podcast. He wasn't too excited. What about mobile? Ar He says it's natural and a are itself is five or ten years behind VR with. What's your take on mobile? Ar and so. I think a are Dr has a harder problem than VR actually in Vr has a hard problem. But I think it's a lot like. VR Is like the personal computer adoption. Ten and a are like mobile after the personal computer was adopted. So we already have. We need the first thing to get to the second can thing and right now all these big companies are so excited about it because a lot of things cool and entertainment is a great use case for ar today. I actually think I think snapchat Eric Company like I think technically mobile they are works like there are companies that make a lot of money on the fact that they are in a our business but on the like star upscale of the world markets. I think we need persistent a are in those come with glasses and to get two glasses a higher technical achievement and it's a habit change so habit changes in my experience or very expensive. It just takes time to maybe. Maybe that's going to be the why now for that. That means that I should start investing in companies right now. I'm sounding negative. That means that I should be backing now for three four years. Like if you're yeah until I think. VR We are going to hit this year but a lot of those investments I've made eighty VR ar investments if Quinn was the why now for coin based what's what's the why now for for through these VR Ar it would have been oculus exists and the market you see if the overlap see the argument would be the overlap of market adoption. There being being a certain number facebook to said they think that in couple years there's one hundred million of them but like you know let's still speculation but it's the bet so you can make a business work until the masses hit now. What about the intersection between blockchain and VR or Crypto? I mean the wildest thing is like when we started started investing in virtual reality. We didn't think about any overlap. We were just like these are cool separate communities of people who are awesome the more we look at it in the more we talk to people the killer APP of VR is blockchain and the killer APP of blockchain is virtual reality because because if you watched that entire ready player one movie have you seen now. I read the book though. Okay you read the book okay. All of those win. There's an item in an open on world. There is no way you can actually technically do that without a blockchain right like you can't have a digital item that there is a scarce number of without a blockchain pain. And so I was. I was watching that movie and I was like this is my world like this is the world I'm going building and then I was like okay. Well I hope they do close on Tuesdays but I I found more and more that we're building this connected digital world and and those those two elements of the technology the Internet was SORTA the first layer. The blockchain is the payment in trade layer and virtual reality is the presence layer and now we can actually like live there with almost all of the interactions. We have with all humans today which was crazy. I read sovereign individual Latte last week. And so I'm right there with you on the dissolution of States not to put words in your mouth but we're talking about borders to bring people together you know it is interesting like how. How do we get from here to there? In a world where governments keep getting stronger China's US military's. And I mean. How do we get? There is correct. Yeah basically the question is how do we get what happens. So we're we're in a bridge generation. Yeah I'm speculate. I don't know what the future looks like I. I wrote something similar to someone and I said I don't know tomorrow like zebras could have been playing the long game and take over the human species so it might be wrong but I think that the conversation around the next ten years is big tech big government so I think that that is just beginning. Like we're just seeing Mark Zuckerberg Goto the here right. I mean if it was boring winds will be seeing a lot more of it. Now we're just seeing like everyone's you know fearing for their privacy but it's been known that the United States wants all that data for themselves surveillance. Capitalism complained about capitalism. Not about the surveillance. Yeah it's not about the privacy. But they're making it sound like it's about the privacy and so in China's like openly doing all these things pretty much and so it's I think it's really about it. Our government's GonNa Start working with the corporations in a way to to move us to this open. Border World so a good example is like Estonia Estonia created digital citizenship. You can actually just file online in line to become a citizen of Estonia. I'm running into a lot of well. I've been going into these ocean. I'm pretty obsessed with the ocean like I said at a lot of these smaller smaller islands. WanNa be big ocean countries. So they want. They're they're they're like we're small land but were big ocean so they want to invest invest in the fisheries and they want to invest in policy setting at all. I I read the book read. There's a book called C. Setting. I recommend it. It's amazing I am. I can that work. Yes I think we live in a time when anything anyone imagines can be built which is either we are a Impeded by immagination. Now like we're slow slower on her imagination than we used to be. So that's a bad thing or we're just at that point in time where we figured out the tool all sets to be able to bill naming so on the studying like it's very possible there's the technology that exists today if you think about it. Cruises are an example of people. Living in water are like on the On water year round there are people who just pay for a ticket on a crucial year and they don't even have a housing so the technology exists. Even if you think it is cruise ships Sir but I love the idea of smaller countries accepting that they have a digital large digital presence until starting to reinvest in those thanks is a really big deal now are we haven't even talked about a guy but is going to be a very important part of like building these these tool sets. I don't think of Ah I think is one of these. Things is just everything just like the Internet's and everything just like the block dancing. The everything's weaving together. I read a great book called Super Superpowers for powers. That's really focuses. China the China China verse. US It really focuses on that and making it sound like no one else can even participate. Because there's so much more data in China in the United States. I think that it always ends up being about what the use cases like we we build tools like a hammer can be used for a lot of different. Thanks ex- we end up using tools in different ways. Is it the most efficient. Is it the best like one. I might be really really good for like finance that Tamie. I probably won't be great for C.. Setting like I. I don't know if we're GonNa have light and then you know there might be a superpower at some point that we're all bond together but that might I just be called human species in ideally on multiple planets. So I okay. How do the original? I want to get back to the original question as important one. It's really about aligning incentives amongst the world. And that's what I'd say business. Venture capitalists are really really good at where our governments are really really good about maintaining governance. And there needs to be. I think that this is where tokens are going to play very large role in voting for things marketplace's it's about creating a marketplace for everything and so the technology blockchain four governance is going to be so incredibly important suddenly. I'm voting for I'm voting for you. Know how the United States US dollar should be deployed through like an era gone Dow end. Like that's exciting. Exciting like we should have votes in a lot of different things in the government. A big block the whatever. It's got like a black box that we don't really know about so I think How do we get there? We keep investing in great technology in great people. And hopefully we believe that. A like the picture of the world that I believe is like the most Happy is one. where the you every person who has chosen their mission who has discovered with their lifelong mission is is enabled to carry it it out so that is in my mission is to enable those and so that's been like my my thing I've chosen to? That is my lifelong mission is to get better threat. Finding the people who have chosen their mission enable him to do it so I think that Babe in short how we get to sort of like less strong less. It's not even less strong governments. I don't care what superstrong governments opt in or choice more choice more freedom more choice and and free vote. I think that's going to be the thing that everyone votes for. Everyone wants choice. Everyone wants to look people in Venezuela. Aren't happy that their money is worth like one one millionth of what it was last month. The without any representation in Argentina to shut down the ability to by the US dollar for any company and then every citizen can only own two thousand bucks worth Which makes it essentially illegal in the country of Argentina? India has shut down all crypto related plated. Thanks we are seeing firsthand like we're we have a ticket to countries fighting back against the technology they that was a joke. So we're seeing the fight right now. We're in the middle of fight tie. Yup I they laugh at you and then they yeah I they ignore you then they fight you you then you win and like I think we're at fight like it's it's They're identifying that there might be a loss. They've laughed after Nelson. And now the and then they're going to have to collaborate now they're bringing marketing. If you find that we don't want to collaborate as to how it works. Yeah I like. I think it's popular earlier to hit on Mark Zuckerberg right now. Like I don't really know why he's connected more of the planet than anyone ever thought fathomable. He has has two million people actively using his platform. That is insane. I think if any other country were to have Any the other country wants to say that facebook was started in their country. And like right. Now we're all like mad at him and I get it is. There is a good thing but there's always friction friction in the process of the the growth in scale. And we're we're figuring out the friction points totally the mission to enable people to choose what they what they WANNA do and technology analogy helping do that. Perfect place close. I guess today's been Adam. Draper Adam for the entrepreneurs and investors who want to get in touch with you about building engaged crypto..
"draper" Discussed on NASACast Audio
"With me today as Dr Dave Draper a planetary geologist who specializes in really important stuff like volcanic activity. Dave is the new deputy chief scientist for NASA NASA headquarters now prior to coming to NASA the headquarters. He worked at the Johnson Space Center in Houston Texas. Dave was the manager of the Astro Materials Research Office where we house our samples is that we bring back from the moon. Welcome Dave thanks Jim. It's really great to be here at headquarters today. I want to talk about your unique perspective on what the Apollo Program really found out about the moon and the earth from the samples at brought back you know planetary science as we know it today really took off during but especially after the Apollo Program Program so what did we learn about the moon that really helped spark this new generation of planetary exploration what we learned Jim is that terrestrial terrestrial geologist had to shed their bias. I mean we all work on the earth. We know the earth. We've been studying it for centuries really as as geologists geologists but every world is different and when we got to the moon we quickly realized this is very different kettle of fish and when you you look at lunar samples there are few key fingerprints. You can quickly us to demonstrate. Hey these are not from Earth. Let's go back to the beginning. Let's go back to how how the moon was created. What was the moon like way back when when that first happened the giant pack hypothesis says that very early when when the solar system was still in the accretion process an object about the size that Mars is today roughly one third the current size of the earth collided with the pro earth and that process was cataclysmic and flung material out and that material eventually coalesced I to form the moon and that coalescence process was really energetic and in that whole sequence of events that's what caused the earth itself to melt and really the very very first samples ever taken on the moon by Neil Armstrong right after he stepped off the limb him one of the first jobs was picked something up and get it in a bag just in case you have to bug out quick and included in that very first scoop of material were little fragments. Wagmans of white stuff that is called a north aside long story short that led to the idea that the moon must have been completely molten in its it's very early state and I know listeners have seen some of the really dramatic video recently from Hawaii where they have these huge lava flows slowing down the the mountains and rivers of lava that covering up villages and all that we're talking about an entire world that looks like that so very very dramatic very different from today so the whole surface was covered in molten rock and not just a service it went to great depth in fact most the geochemical and experimental evidence suggests that the end tire mood molten not just the upper upper layers so it we call of this the magma ocean so it starting to collect this material and creates this Magma Ocean on the moon the that early event had just tremendous. Indus amounts of energy and then additional energy was contributed to the process as all of that material together all of its gravitational energy is converted into heat basically thickly and everything melts but the really crucial thing is once we knew at the moon had been molten then we had to take the next step will. How did that have once once we had the idea about the giant impact? We thought we'll Geez what happened to Earth when that happened and the upshot is that not only was the moon molten but the birth was completely melted itself and that is something we could never have known unless we had gone to the moon. Where does the North site come in. You mentioned right right off the bat that you know we picked up some north site and that was sort of a dead giveaway of Molten Magma Ocean. Yeah a north side is a rock type. It is made up almost entirely a single mineral. Minerals are the building blocks of rocks. These are the things that geologist study in detail all the time the mineral it was called up as felons bar. It's very common on earth as well but it's of a rare thing to see Iraq that is all plastic leis and what we know. Oh is we can very easily. Measure the density of the minerals and what we know is that plays is very much less dense than the more what we call. Mayfield minerals that constitute the interior of most terrestrial planets plastic leis will float on the magma ocean the way ice floats in your glass of water and what we inferred we'd being the scientific community inferred was that this plastic leis material. Israel must have floated on a liquid that was more dense that was the primary observation and just from a couple of small pieces of that puzzle this this whole story could be worked out but it could never have been worked out unless we have brought back this sequence of samples that each of the missions brought back from all of the the targeted landing sites that the Apollo program shows. Do you think Neil knew the significance of the north side when he picked it up. No He sure didn't he had no idea but I'll I'll tell you what Jim once. They brought that material back. It was less than a year before this idea was promulgated that hey this the moon must have been molten of course. Apollo although eleven was the first twelve they already knew where they were gone and thirteen. They already had those plans before them. I material came back but once they started analyzing at that gave them a clues about where they should send the last few missions and in particular the Apollo fifteen mission was chosen to go to a place that hey if this idea is true. We ought to be able to find a bunch of that stuff somewhere in this area and the commander of that mission astronaut David Scott really took took onboard geologic learning and he went out there and he and his his lunar module pilot were looking for this stuff and they found it. This was one one of the greatest times of science hypothesis testing so they knew what they were looking for in the adjusted the location so this brings in my mind right away that you know. Powell thirteen was going somewhere and it didn't make it was Apollo fourteen slated to go there. Yeah fourteen went to the place that thirteen would ha I see so they just didn't want to pass up that that spot and then but they adjusted the plan and they sent fifteen to where they would hope to find this evidence and they found the smoking Gotcha. We know when we look at the moon today we see a contrast and grey five may say you see the the nice gray mostly surfaces with impacts in them and then you see these really dark grey areas on the moon what are they the darkest areas are really widespread. Lunar Lava flows basically what on Earth we would call flood basalt there so voluminous that they cover huge aries. The lighter stuff is is what we call highlands material it is made up of different compositions richer in silicon comp- compared to the dark stuff and the plastics as mineral we just talked about is very abundant in these highland materials and that helps lend it that lighter color dark gray material we call the MARAE. That's lane in what we call. Basins and those basins are actually impacts that scoured the surface in this material this molten rock float into into it so this is different than the than the Magma Ocean that we just talked about the magma ocean once that cooled off and it didn't take long. I mean geologically weekly speaking a few maybe tens of millions of years. Maybe most one hundred million years for the whole thing to cool off and be solid sounds like a long time but in the geologic logic terms. That's you know about a month of our life. You know it's not a not a big longtime that process formed the source regions from which the lob is is that came later that are now on the surface of the moon formed so that's the stuff that had to melt to give rise to the lava flows so the impacts then hit the moon soon that created these basins and then the molten rock comes up from the interior and starts flowing in these areas. How did it fill these areas areas and how did we know how it filled these areas from the samples we brought back the common misconception. Is that those lavas were in fact triggered by the impacts packs but that's actually not the case. The impact basins are themselves. Oh quite a bit older than the lava flows. Lavas came along hundreds.
"draper" Discussed on WGN Radio
"Draper VM sexist or whatever for it but that's the way marketing it I advertising agencies do look at things like that and they did they do know them to be effective and I think that she's hired a marketing company that is that a non public relations firm because in New York I want to say it might even be the times times because it's it's a big paper the ran it today that has the story and then I had this one particular picture it's kind of funny it is down to warn and and Harris on that side but don Biden obviously still leading by a heck of a lot Hey man I'm worried about my struggle to that goal can be worried about that he man the fight man what if I will go back and on stage but I'll fight if I have to fight him aside all right the store is a matter in the northwestern medicine ism is it not and the Chicago stories are told twenty four seven on seven twenty WGN Chicago smart users just say all right to take a break okay hello I never go right to the top excuse me I was too busy to talking dirty about Bernie Sanders I'm Tino from one two two two zero and my community a lot of families don't encourage higher education I'm guy in zip code four zero two two I like my neighborhood okay but sometimes it's hard to make friends here the way she was program minus the future possibilities and how may press for college at the Y. cam it's really a safe please all the people there are really except dean and nice at the one was a co doesn't define my future I do support your local Y. at YMCA dot net slash for a better S. like Sam Watson is on a.
"draper" Discussed on The Bitcoin Podcast
"Could be. Thinking. So once once the company built enough traction prove that they're worthy of a bigger investment to be scaling see if can get to product market fit. That's a good thing. Draper associates to come in. But before that stage when they're just an idea, you're not super interested. Nineteen. Tenuous improvement. And then you. What am I gonna? My team to be. Anyone? The nation. And every state you need needed different milestone, validation. To get that next round on. So I think would of counters maybe. He's he's not as much about the vision. How much you can capture maybe the market size and all these things is your idea. Whatever. But if you don't have to get seed to series, and if you don't make enough progress in that time with the money, the venture capitalists kids, then you're not gonna get to that series. So having having that fishing for IPO is great. But he needs to prove the monster. Incense? Thank you can get to a bigger bigger. And that's the traction that you're talking about the validation. He. Would it? Vision. And so when we talk about traction in the crypto currencies. He's big numbers, generally. Most of the investment is building Bill if it's Bill. Money out there. How're you? What kind of fractured? Investor lachey. Right. Then you. Even. The money thing in the mission. I just that's the point forget the. I really don't like that. It's not a six it's not you're not successful. If you get twenty five million dollars in funding. Nice. Sales. Right. That's I mean, that's that's selling yourself and your team, but on the -sarily your product to consumers who are actually using. So so so if I that hearing. Founders space is Bill the business show traction. Then get investment on that traction. And builds the next face the next thing that you're gonna ballot. So that you can get that next round of funding to propel you to that next thing that you need to. So that you can get to the bigger PT's. What's that? And this is important too. Because you don't just wanna get funding. You wanna get funded at decent enough terms. So that you don't get you know, have down around later. Let's say or let's take too much money. You're going to be at a disadvantage for a number of reasons, you have to deploy that capital patiently you then. Might take. I doubt we might have to lower your valuation next racing. What are some other issues with the terms and the fund raising amounts? Entrepreneurs are asking. Thinking that. Technically. And they're very liquid may have limited like Foote's, they can sell their stake immediately and you're going in crafts. Price. Private is actually beneficial because your investors can can't sell out and then lower the valuation of your company. CBC Tricia, nor efficient. Retail investors who are investing in in ICO's and stuff. They're very fickle..
"draper" Discussed on KFI AM 640
"Almost over the defense rested. And didn't call a single witness so they're gonna do closing arguments tomorrow on that one unfortunately we got news that a firefighter from Utah has. Died battling what has become the largest. Wildfire in recorded California history this is the latest fatality in. A fire season that's already seen way too many one, is, too, many and, with the fires getting so much bigger doubling in size since one thousand nine hundred. I read and so much more frequent it is just tragic to think about what what could happen the rest of the year, the firefighter is from Draper Draper Utah battalion chief Matthew Burchett forty two years old I entirely community of Draper. Of, course mourning this loss he left behind. A wife and a son all of the flags lowered to half-staff there in in. Draper he, was battling the ranch. Fire got injured was airlifted but did. Not make it there are still going to look into into what happened obviously Draper fire. Battalion chief bar talked about it this morning saying I. I've, known for a long time it's tough anytime we lose a brother it's hard and he says that Matt jumped at. The chance to go assist in California was one. Of about forty firefighters from Utah from seven agencies that were deployed here very good man very dry wit extremely professional and is described as a. Master of his craft according to the. Salt Lake Tribune he this is the first firefighter from Utah. To be killed in a. Wildland fire since two thousand, and, six, yeah that, was Spencer coil who died in What. Was, called the devil's den fire back then So, the update numbers, updated numbers on the Mendocino complex the two fires the ranch in river fires are now three hundred and fifty four thousand acres, reaching to the point where it's I wanna say fifty percent. More than, the previous largest fire in state history Thomas fire which I think was about two seventy This is a it's still only sixty, eight percent contained thankfully I mean as as large as that. Area is, of three hundred fifty four thousand acres It's only have lost one hundred thirty, nine homes? I think is is interesting and you know what when, you hear that one, hundred thirty, nine homes it loses. A bit of its bite doesn't it when you think. About all the firefighters that have died this season the six this summer six, firefighters this summer The. Other thing about that fire in the. Mendocino complex gets the? Name because it's burning Mendocino county but it's also, burning Lake County and Columbia County and, the LA? Times actually had an article today about how fifty percent of Lake, County has, burned in, the last six years Think about that fifty percent of the county has burned It sparked some debate about whether living one hundred. Twenty miles outside. Of San Francisco is even worth it Listen there's a beautiful communities in their clear places that round clearly credible Alex great it's not clear, but it's cliched. But it's, great fun while skiing and concerts and stuff but they've had I, mean it seems like every year for the last five or. Six years they. Have had, a ridiculous amount of fire burning through there that's what happens I. Mean it's kind of the natural course of things with these wildland fires it's kind of nature's way. Of getting out the old trees and making way for new stronger younger vegetation is. Just kind of what happens when we have humans. Causing more climate change there's more. Of us it's going to get hotter that's just the way it is we've had, a four of the hottest five years on record the past five years and you. Have people moving further out of the cities in into the rural. Areas you're just going to get, more people in these wildland fire area you have more. Opportunity, just, physically they're geographically in those areas where it's going to have yes So anyway. It's just as, I know a, few sort of related family I guess it would be, related wouldn't family. Members who, have homes up in that area that have been keeping a very, close eye on that as as you would expect them to. The good news. About the, Ferguson fire the one burning near Yosemite is that you're seventy valley. Reopened today for the first time in several weeks they said that they listed the official reopening time. As of nine this morning but there were a bunch of people who are already. Getting into the valley a little bit earlier than. That highway one forty will be. One of the only routes into your seventy valley but it's also near one of, the last challenges that firefighters are facing because is still an active area the Ferguson. Fire the one near Yosemite valley is now at ninety six thousand. Six hundred seventy cres in his, eighty seven percent contained so they are still not out. Of Out of the woods cliche sorry but they still have plenty of work to do remember that, little boy Anthony Avalos who was killed by his mother and boyfriend. And the, antelope valley they had been under surveillance of the county of the department of children and family services just as little. Gabriel Fernandez had eight year old Gabriel Fernandez who died in Lancaster abused, and yes under the umbrella of the county the county done a review and says that the Anthony Avalos. Case was very. Dissimilar to that of Gabriel Fernandez trying to cover their asses over there at the county board of. Supervisors here and it's complete hogwash this review complete crap Wash poppycock, there you go baloney we'll get into that when we come back Gary and, Shannon, will continue right after Monica Rix gives us an update for. Three guys robbed a t. mobile store, in garden grove they took about, eight thousand bucks worth of cell phones. And. Apple watches yesterday police say the robbers. Could be. In their teens one maybe as young as fourteen the defense in x. Trump campaign chairman Paul Manafort fraud trial has rested without calling any witnesses Manafort answered, no. Sir when the judge asked Manafort if you wish to testify in his, defence Manafort is accused of hiding millions of dollars in income that he got..
"draper" Discussed on The Jason Stapleton Program
"Sorry now they're going to try draper is going to try and say that the the the california's constitutional power of voters to write their own laws would serve as legislative consent so he is going to make the argument that no no no we're not gonna lead need the legislature's consent because californians had the ability to write their own laws and this serves that they're voting serves as legislative consent that will end up in court and so there is it's going to be very long process in the event that it even passes but what if that what of all of that has what do we overcome those those huge odds those million to one odds and we actually get the legislature to approve it or we get a court to say no no this is what the people want voted for it and you don't now get a choice legislature you're going to have to break up the state well if that happens that would also need congressional approval at the federal level now that's going to be another hurdle to climb why we'll think about california and the senate right now the senate gets representation based on us on a statewide basis so each senator each state has two senators and there are currently a hundred members in the us senate and two of those seats belong to california now if you divide california up into three states that's not too senators at six senators and they would now have six seats in a hundred and four.
"draper" Discussed on KQED Radio
"You founded wired magazine has called you the messiah of bitcoin you have also been called the scourge of wall street messiah and scourged you embrace these terms this strong language i'm reminded of a line of oscar wilde's wanna play opened at the abbey theatre got this rousing ovation one man stood up and said you're fraud while stood up and said frankly sir i'm inclined to think you're right but in the face of so much acclaim who are we to disagree thank you patrick byrne and your partner here today is tim draper ladies and gentlemen tim draper and welcome to intelligence squared us your venture capitalist you're the founder of draper associates and and draper university you were an early investor in companies some people may have heard of tesla hotmail skype how does bitcoin compare oh this is bigger than all of those combined this is bigger than the iron age the renaissance it's bigger than the industrial revolution this affects the entire world and it's going to be affected in a faster and more prevalent way than you ever imagine i wish we knew what you really thoughts thank you tim draper and again the team arguing for the motion and with the motion bitcoin is more than a bubble in here to stay we have two great debaters arguing against please i welcome eric posner eric you're an intelligence squared veteran welcome back you're a.
"draper" Discussed on The Adam and Dr. Drew Show
"But but again but i feel greater than the being dead pa right i feel glad i'm delighted it's yet so many years i think the lives she had a good life oh my god well yeah should a good life and she died with dignity which i am always grateful for she had such that don draper denial things so profound that she missed out on a ton i would say that lami for instance i shed some of your grandmother stuff to you know my father never missed a baseball game or or football you might my sons played in my mother never went to one i don't uh i again it's always you know explaining this is sort of like uh wine explaining delicious poison as we try to explain to people that uh you know my parents are indifferent about jimmy kimmel hosting the oscars you know or incredulous about it then it was like why wine it's like well that's that's how you know it's the wire when you have to ask why it's that's the wiring is flocked up right it it is it is was our when the kids get over it and the kids go out and play and the kids achieve and our don't achiever have whatever experiences they have on the grid iron this is for them for the for the parents or grandparents in this in this case why not enjoy that right as grandparents me feels like view will you asked achieve lived a good life where you missed out a bunch of ship because all it denial and stuff and whatever that was what what was the denial of the kids football game why was that was that fall under the on denial the fell like he was in the same zone like we just won't discuss why i'm not there whatever it is i have no idea just not open for discussion with for dinner well the the thing that's you know i i was this the steel trap man i was up.