18 Burst results for "Harley Finkelstein"

"harley finkelstein" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:35 min | Last month

"harley finkelstein" Discussed on Bloomberg Radio New York

"What's happening at Netflix and Disney. All of that in a moment, but first I want to look at the markets with our very own Ed ludlow Ed walk us through the day and obviously everyone listening to those comments from fed chair of power. Yeah, so like all eyes on the fed and equity markets a little bit softer. We're down by less than two tenths of a percent both on the S&P 500 and the NASDAQ 100. And nothing really changed in terms of what fed pal said on the outlook for rates. The conversation is around whether they can deliver a so called soft landing. In other words, fight inflation without causing a recession. The quote being it will be extremely challenging. You see, tech heavy NASDAQ 100 index down by two tenths of a percent ish snapping two day rally a short lived rally yields coming down by 12 basis points on the ten year and Bitcoin below $20,000 kind of caught up in the move with equities in this risk off environment. But you know how I like to do it. Let's take a step back. Let's look at the last few days of trading and look at this in the context of what we've seen in markets recently, especially on the NASDAQ 100 when you think about all of the news of the last 7 days. We started with that fed meeting, a week ago where we got a clearer picture at the outlook for rates. We're going to be at three .253 and a half percent on interest rates by the end of this year. We kind of trading sideways and then today the market not really making its mind up. Has anything materially changed? Was anything actually that new in what fed Powell said throughout the session? What I'm hearing in the markets is that really no, but we swung between gains and losses at one point in the session you saw big tech up quite highly. There were some really interesting movers, though, that we can talk about in a minute. And the one thing I would say is that we're thinking clearly about recession risk. And the conversation is not necessarily if there's a recession. It's about when there's a recession. Indeed, and obviously there's a lot of big tech news that's driving some of these moves. I'm thinking about Amazon. Yeah, exactly. And what we're looking at as well in the news flow is that all of these stocks are trying to trading in lockstep. So you look at my board, Tesla down four ten to 1% at one point, it would be one of the biggest drivers pushing the index higher Amazon up by a quarter of percentage point. Netflix up 4.7% in the ses it was actual news with it when it came to Netflix. So The Wall Street Journal reporting that they are now considering a tier of subscription that is ad supported. We know that that's something they discussed at their most recent earnings as an idea. But according to this report, they are talking to partners like Google and Comcast in partnerships on ads, ultra down 9% very quick, according to a Dow Jones report that regulators considering pulling the dual product in which Altria has a stake completely from the U.S. market. How long has it been since you and I discussed Juul? It went from the impact on children, flavored products with dual to now reports of it being pulled from the U.S. market was given that having a really material impact on our trio shares, this Wednesday. All right, thank you for the roundup. Well, retail and ecommerce companies have been under pressure in the midst of rising inflation and market turmoil, but Shopify shares took a leg up today after a slew of announcements targeted at the changing nature of consumers. I want to talk about all this and more with Harley finkelstein president of Shopify, Harley, we've got a lot of news to get to a lot of announcements that you made and we'll talk about that. But first I want to get your sense of what is happening with the economy. Shopify hasn't necessarily been spared here. But what's your feeling about just how bad this will get, and if a recession is inevitable? Thanks for having me, I'm only always a great pleasure to be on your show. Two things. Let's first talk about the retail outlook and I think consumer sentiment. What we are seeing is that there's certainly some retail rebounds happening in areas like in person retail and we are well positioned there. I mentioned on the earnings call last quarter that we saw physical retail GMV up by nearly 80% year on year. And then when we add things like one of the announcements today was local inventory sync on Google and tap to pay, we really are well positioned to ensure that if physical retail is rebalancing and reopens that Shopify merchant can also use that as well. But one of the things we're seeing from a macro perspective is that consumers are very much still voting with their dollars to support independent brands. This is something we saw happen very quickly and intensely during the pandemic. They are looking for quality products and certainly a lot of the Shopify merchants are doing well there. In terms of the economy in general, it's clear that obviously inflation is at a record level. But to the degree in which merchants wallets are stretched from higher prices, what they're beginning to do is they're looking to get more value out of every single dollar. And what we're seeing is that more merchants are coming off the Shopify and they're taking more of our products, whether it's capital or payments or fulfillment, they're leveraging

Ed ludlow Ed Netflix fed Juul Amazon Disney Harley finkelstein Powell Altria Tesla The Wall Street Journal U.S. Dow Jones Shopify Comcast
"harley finkelstein" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:12 min | 6 months ago

"harley finkelstein" Discussed on Bloomberg Radio New York

"Is listening The only way to start the morning is with optimism Jobs recovery was sluggish A lot of people agree on that Bloomberg surveillance with Tom Keene Jonathan farrow and Lisa Romero Finally we got some Abramovich gloom to get in there The ultimate south signal might be at least a capitulate Bloomberg surveillance Must watch Lisa your data point go Tom you're great Never change We see mornings at 7 eastern on Bloomberg radio and Bloomberg television Amazon meta alphabet Uber they're not as coveted places to work as they used to be Highly sought after employees are now leaving in mass to work for startups focused on crypto and web three Others just burn out by high expectations For more I'm joined by our Bloomberg senior executive editor for global tech Brad stone Brad we're seeing also tech stocks coming down whether it's Amazon or meta and that was a huge way that these companies have recruited and retained top talent Is it getting harder It is I mean particularly retaining good employees The best engineers they have choices now They have geographic choices They have choice for which company they want to work for When you talk about meta or Amazon where the stock prices have been either stagnant or down over the past year it's a very it impacts your attention Absolutely On the recruitment side maybe there's upside then for an employee who wants to join and sees the stock price is low But then you've got the PR problems particularly around meta which is going to be a turn off for a lot of employees Amazon just raised the price of prime which did something good for the stock Would they ever do a stock split like we saw with alphabet Could it come to that I would say never say never in the 1990s they split the stock a couple of times It's not pretty expensive Over $3000 per share You split the stock to make it more accessible to retail investors but also for employees Right now if you're a warehouse worker and you opt in to the stock plan you probably get fractional ownership of shares So I do think that that is something Andy Jesse would look at Mark Zuckerberg held an all hands meeting to talk about the company's values We've also seen Andy Jesse add a couple of new core values to the company How does that play into this You want your employees to feel good about where they work and often these values these leadership principles they're not just not just HR speak These employees kind of marinate in these principles It's how they make major decisions That's how they hire how they promote And the new principles that meta and at Amazon are all about acknowledging critics and saying we are conscientious companies So I do think it's important They're trying to restore the aura of good feeling that these companies make a positive contribution And Microsoft is calling back its employees to the office on February 28th They can still work in a hybrid boat but that's the first big company We've seen put a date on it and I wonder are the other companies going to follow suit and is the remote work policy going to decide the next war for tech talent Yeah it's a good question Of course here we are Emily in the Bloomberg office talking about this question Look I mean if the pandemic really is ending let's keep our fingers crossed I think all these companies want to claw their workers back At least for a couple of days a week I think there's a conviction that they move quicker that innovation happens when people are in the office So I do think Microsoft is probably a little bit of a bellwether here Again going back to the first part of the conversation employees have choices and probably for the tenured employees the high value of engineers maybe they can leverage some more flexibility All right something we will be sure to watch Bloomberg's Brad stone thank you very much That does it for this edition of Bloomberg technology We're going to hear from Brian chesky CEO of Airbnb Just about an hour and 15 minutes from now stay tuned to Bloomberg television Harley finkelstein with us tomorrow and a great roundup of guests This is Bloomberg.

Amazon Andy Jesse Tom Keene Jonathan farrow Lisa Romero Bloomberg radio Brad stone Brad Bloomberg Lisa Tom Mark Zuckerberg Microsoft Emily Brad stone Brian chesky Airbnb Harley finkelstein
"harley finkelstein" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:26 min | 8 months ago

"harley finkelstein" Discussed on Bloomberg Radio New York

"And I'm Susanna Palmer in the Bloomberg newsroom The omo Kron variant of the coronavirus continues to grab headlines and the attention of scientists says they raised to learn more about specific features and how to best protect against them CDC director doctor Rochelle Walensky says if there needs to be a new vaccine to combat this specific variant it's likely to be similar enough to the existing vaccine to enable it to be fast tracked There are already in conversations about streamlining the authorization of this of an omicron specific vaccine partially because much of the vaccine is actually exactly the same and really would just be that mRNA code that would have to change Well linsky appearing there on ABC's this week A new report says former CNN anchor Chris Cuomo is being accused of sexual misconduct Cuomo was fired by CNN Saturday because of the role he played in helping his brother former New York governor Andrew Cuomo fight sexual harassment claims The New York Times says earlier this week a prominent employment lawyer informed CNN of a client with an allegation of sexual misconduct against Chris Cuomo The lawyer Deborah Katz said yesterday that the allegation against the news anchor is unrelated to the governor Cuomo matter The number of U.S. homes with married couples and kids fell to a record low the story on that from Bloomberg's Charlie pellet The pandemic further delayed weddings and more adults don't plan to have kids at all the share of the U.S.'s 130 million households headed by married parents with children under age 18 fell to 17.8% in 2021 from 18.6% last year the according to the Census Bureau that is down from more than 40% in 1970 Bloomberg's trolley pellet reporting Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is Bloomberg This is Bloomberg businessweek Inside from the reporters and editors who bring you America's most trusted business magazine plus global business finance and tech news as it happens Bloomberg business week with Carol masser and Bloomberg quick takes Tim steinem on Bloomberg radio Hi everyone Welcome to the weekend edition of Bloomberg business week It was a volatile week for markets Thanks in large part to uncertainty over the emergence of a new COVID-19 variant omicron which we're still trying to figure out how to pronounce I think we figured out our Greek colleague here He told me we got it Yes And he got apulo Also Federal Reserve chair Jerome Powell taking a hawkish tone before Congress vowing to keep inflation in check And saying Carol that fed officials should consider tapering asset purchases even faster than anticipated setting a stage for potential interest rate hikes next year but as you always remind me interest rates are low We need perspective everyone Exactly The other thing is and this caught our attention he said it's time to retire the word transitory when it comes to rising prices Trend we are seeing in nearly every sector of our economy and several of our guests on this program have plenty to say about that Tim We're coming up in this broadcast We're going to hear from a pair of ecommerce experts from different sides of the aisle Shopify president Harley finkelstein tells us how his company is outpacing the broader retail sector with the holiday shopping season already underway And talk about timing Wall Street Journal tech columnist Christopher mims he's got a new book out about exactly how we get all of the stuff that we have and why the global retail industry is at a tipping point Plus the Bloomberg 50 is back It's our annual look at the people and ideas that defined global business entertainment finance politics science and technology in 2021 I love this list All of that to come we begin with a story in this week's economics section Supply chain carnage creating opportunities yes opportunities for companies willing to take a chance on random goods From cheese to used cars and maybe even pumpkin seeds think of it as storage wars on steroids Bloomberg business we contributor Jeff wise wrote the story and he joined us along with the editor of the magazine Joel Weber Jeff tells us his piece came from his coverage of the ever given That of course was the monster cargo ship that clogged up the Suez Canal back in March Nobody really knew what was on that ship There were something like 20,000 containers and there were various reports like it had been reported that there was a life size Tyrannosaurus Rex that was heading for mini golf course in England But like next little details like that but nobody really knew what the bulk of it was and there was this young guy in the UK who was more talkative than most of these salvaged buyers And he kind of became sort of instant media star over in the UK He was on the local news and everything talking about what he had taken about 20 containers off the ship and was trying to figure out what to do with it He had actually ten containers I got 2500 tons or something of raw cabbage that had been picked by farmers in China put in these containers and was destined for Europe And then of course it was stock for four months So it came from the heat Inadvertently His liquefied And it turned into goop And so this is a guy who became the centerpiece of my article for business week He can both turn around stuff that has some value left in it Or he can take up this absolutely toxic or dangerous or whatever it has to be disposed of So he whatever it is he kind of uses his cleverness in his connections to find out the best thing to do with it And how is it that in 2021 that these could be mystery boxes The companies that transport these containers know exactly what's in every container For the most part yes Can each container has a manifest And it sealed And so there's not supposed to be any tampering but there's shenanigans that go on And sometimes the manifest is vague in the case of the one that I wrote about in the story It just said household goods bracket car And they were like what.

Bloomberg Susanna Palmer Chris Cuomo CNN Rochelle Walensky linsky Cuomo Deborah Katz Carol masser Bloomberg quick Tim steinem Bloomberg radio U.S. Jerome Powell Andrew Cuomo Harley finkelstein fed
"harley finkelstein" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:54 min | 8 months ago

"harley finkelstein" Discussed on Bloomberg Radio New York

"Powered by Shopify I get a much better experience I know that the money that I am paying for is a vote with my wallets that I want more of those brands to exist in the world I think the other thing is that the big box retailers for a very long time they had an unfair advantage because they had distribution And the reason that we were able to these big buck sources is because they were in our cities But the Internet has completely democratized distribution so that today I can be sending anywhere in the world and for $29 I picked up a store on Shopify and I can sell online I can still offline I can sell on TikTok or Spotify on Instagram and I can be default global within a matter of minutes That's where technology is driving this really incredible innovation in commerce How do you make sure that these companies as they grow don't graduate from Shopify's platform and they're able to keep using it It's a great question The challenge of being able to make it really easy for any brand or any entrepreneur business to get started on Shopify And then when they get to some sort of scale they continue to grow that is really what shop would make Shopify quite unique So for example when you're just getting started you may just simply want to set up a very simple online store and sell to consumers But as you grow you begin to wanting to sell across a variety of different places channels I mentioned Instagram and Facebook but also you want to sell across new channels that emerge We announced a partnership to scale with Spotify so an artist on Spotify can open online stores on Shopify and sell merchandise That was Shopify president Harley finkelstein And we should note that this past week after our conversation with Harley a group of 5 educational publishers sued Shopify The group includes Pearson education and McGraw hill It filed for copyright and trademark infringement Just as we were putting our broadcast to bad shop if I had declined to comment on the specifics of the lawsuit saying that it takes actions against web stores that violate its policies You're listening to Bloomberg businessweek coming up next one of America's premier luxury auto brands is racing into the EV market The question is how.

Spotify Shopify Instagram Harley finkelstein McGraw hill Pearson education Facebook Harley Bloomberg businessweek America
"harley finkelstein" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:55 min | 9 months ago

"harley finkelstein" Discussed on Bloomberg Radio New York

"Let's take a look at some stories making headlines around the world Britain's antitrust watchdog has ordered Facebook parent meta to sell giphy The competition and markets authority found that last year's $350 million tie up with the gift search engine will reduce competition between social media platforms It is the first time a global regulator has forced a big tech firm to unwind a completed deal Meantime regulators in China have dealt another blow to Dede the giant ride hailing company They've issued a formal package of rules that protect the rights of millions of drivers that underpin the industry's growth Beijing has already ordered Dee Dee to delist from the U.S. after the company went ahead with an IPO in June despite official objections And a warning from SpaceX CEO Elon Musk according to the website space explored Musk says the company faces a genuine risk of bankruptcy If it can't launch one of its starship vehicles at a rate of one every two weeks next year The website quoted an internal email in it Musk indicated that production issues with the starships engine are worse than they seemed just a few weeks ago Coming up the weekend that was we're gonna be joined by Shopify president Harley finkelstein to talk about how Black Friday and cyber Monday fared this year Future ecommerce trends and more That's next This is Bloomberg The best of Bloomberg business week every business day Sales activities soaring The Bloomberg businessweek podcast with Carol messer and Bloomberg quick takes Tim's tennis What is an apple developed car look like The days breaking global business finance and tech news along with smart analysis This stock has been on a tear The Bloomberg business we podcast We just get like 20 seconds from you on Bitcoin Listen today on Bloomberg radio dot com the Bloomberg business app or subscribe on Apple podcasts The markets in focus every business day The Bloomberg markets podcast with Paul Sweeney and Matt Miller Are there some sectors that you want to have more or less exposure to We've got a vaccinate the whole world analysis of the day's Wall Street actions From Bloomberg intelligence Bloomberg opinion and influential newsmakers The bond market was the boss Bloomberg markets with all Sweeney and Bette Miller Subscribe to day and Bloomberg radio dot com The Bloomberg business app or iTunes When was the moment you discovered that you were meant for the business world Have you been getting a lot of inquiries from employers And then you started looking for the best sources of information Technology is challenging the regulators doctors use kind of a virtual reality look I feel like the world is courting Elon Musk Which is how you got here How are other bankers restricted now.

competition and markets author Musk Bloomberg Harley finkelstein Carol messer Elon Musk Dee Dee SpaceX meta Shopify Britain Beijing Paul Sweeney Facebook China Apple U.S. Matt Miller
"harley finkelstein" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:53 min | 9 months ago

"harley finkelstein" Discussed on Bloomberg Radio New York

"That is a Bloomberg business flash All right Charlie thank you so much So Shopify out earlier today saying that Black Friday cyber Monday sales hit a record 6.3 billion climbing 23% compared with the same period a year earlier So Tim let's get into what's going on when it comes to the shopping trends that we've seen so far early in this season Harvey Harley finkelstein is president of Shopify He joins us on the phone from Ottawa Harley great to have you on the program today So take us through the data here And really why we're seeing this dichotomy because Carol and I were just talking about the data that we saw from Adobe showing that cyber Monday sales were kind of weak here So how do you reconcile those two things Great to be on the show And it is quite remarkable I mean I think what you were seeing is that Shopify merchants really outpace the industry at frankly these astonishing rates and they continue to do so through the entire weekend We know that consumer spending has stayed strong but I don't think the FCM was simply just a measure of consumer confidence It seems like it was also barometer for consumer interest in supporting independent brands and entrepreneurs and we think that that support is stronger than ever for the entire weekend So from Friday to Monday we saw about 6.3 billion sold sales on shop plans but 23% growth as you mentioned And about 47 million consumers made a purchase from a Shopify merchant during the weekend The other thing that's really interesting is that average cart size was out from about $90 to about a $100 globally And when you look at where those sales were coming from of course we had the big names that we always talk about here companies like all birds and bombas and Jim shark and Brooklyn But we also saw some new names emerge the nugget for example our place for example And then some traditional retailers at new Shopify like LEGO Mattel spanx dockers But I really relative to the numbers that you were mentioning earlier from the industry industry wide It feels like this is a tale of two different retail worlds On one side you have traditional big box stores then you have direct to consumer Well let me just remind our listeners of those numbers from Adobe So U.S. shoppers spent $10.7 billion on cyber Monday That's according to Adobe less than the $10.8 billion a year earlier and that mister Adobe's estimate of $11.3 billion So Harley it sounds like the analysis that you're providing is it's because it's a different type of shopping happening You're saying that Shopify retailers that use a shop to buy platform outperformed the industry and that's why you see the dichotomy in the divergence with the data from Adobe That's exactly right Yes I think Adobe's first only looking U.S. were Shopify as a global platform We have more than 1.7 million stores across a 175 countries But what we really did see is that consumers unequivocally voted with their wallets this past 40 weekend to buy from independent retailers and their favorite brands And some of these brands have now become really incumbent If you look at companies like figs or all birds these are stores that started on Shopify just a couple of years ago and now they're publicly traded companies And so I think you're going to see more of this happening where the future retail really does belong to these independent direct to consumer brands as opposed to the big box retailers In some cases that aren't really adding any real value Yeah it's an interesting we talk about innovation as you know Harley so much in so many different industries certainly in technology We've seen it in retail in a big way What does that mean then you think for the major retailers that are out there versus many of those that are on your platform Is there something more significant going on in terms of the retail trends I've been a student of retail ecommerce for the majority of my life And I think one of the major changes that have happened here is that a lot of the retailers that were reselling other people's products simply weren't justifying their profit margin So I'm sitting here right now in Canada wearing my favorite T-shirt which is James perse which is a Shopify store Years ago I was able to buy and Jameis first T-shirt and Barney's for example and I never did And the reason was I didn't feel that I was getting any a better experience and it was certainly more expensive buying from barneys Whereas when I go to James first dot com powered by Shopify I get a much better experience I know that the money that I am paying for is a vote with my wallets that I want more of those brands to exist in the world I think that the other thing is that the big box retailers for a very long time they had an unfair advantage because they had distribution And the reason that we were able to these big box sources because they were in our cities But the Internet has completely democratized distribution so that today I can be sitting anywhere in the world and for $29 I can set up a store on Shopify and I can sell online I can offline I can sell on TikTok or Spotify on Instagram And I can be default global in a matter of minutes That's where technology is driving this really incredible innovation in commerce Carla you mentioned all birds the company just reporting earnings a few minutes ago by the way figs also a newly public company as to people to organizations that you Shopify is platform How do you make sure that these companies as they grow don't graduate from Shopify's platform and they're able to keep using it It's a great question The challenge of being able to make it really easy for any brand or any entrepreneur business to get started on Shopify And then when they get to some sort of scale they continue to grow that is really what shop would make Shopify quite unique So for example when you're just getting started you may just simply want to set up a very simple online store and sell to consumers But as you grow you begin to wanting to sell across a variety of different places channels I mentioned Instagram and Facebook but also you want to sell across new channels that emerge we announced a partnership to scale with Spotify so artists on Spotify can open online stores on Shopify and sell merchandise This idea that you can sell anywhere you want across every geography is really important but also scales important Jimmy Butler recently launched his new coffee line big face coffee on Shopify Kylie Jenner launched highly cosmetics on shop.

Shopify Adobe Harvey Harley finkelstein Jim shark FCM Harley Ottawa Charlie Mattel Carol Jameis U.S. Tim barneys
Shopify is taking on e-commerce giants

Marketplace Tech with Molly Wood

04:14 min | 1 year ago

Shopify is taking on e-commerce giants

"We've been talking again. About small businesses rushing to get on line during this pandemic and suddenly all kinds of companies want to help with that from amazon to facebook to oetzi to into it and shop by the ottawa based company that helps merchants create websites enable payments and ship their goods to customers shop. If i had unprecedented growth last year it revamped its shop app. Which tracks shipments enables payments to include local shopping collections. And it's got with so called marketplace's no relation facebook and instagram walmart and google to let merchants on its platform also sell on those platforms harley. Finkelstein is the president of shopping by. He told me a big draw for small business owners. Is that shop by. Lets them own their own customers. Their data belong to them. They control the personal information their customers and unlike a marketplace we do not force merchants to give us any independent rights to use their data. The only thing that we are allowed to do is to provide them with better insights better information of which they can make better decisions based on their data so for example. If we see that you were getting a spike in traffic coming from pinterest for example we may encourage you in the admin to act with pinterest channel and try to see if you can actually find more customers there and is it only their data or do give them insights that are based on similar retailers or anything like that or you aggregating at all not really no. i mean. We'll we'll give them very broad industry macro trends and so we really don't aggregate data in that way simply because each those businesses are really independent. And then i wanna ask you about your kind of frienemie placements which is in some ways. Shop of is positioned itself as david up against goliath. But like you said you're working with some of these glass facebook and instagram. What is the risk and being kind of both allies and competitors with some of the biggest names in commerce is so i don't think we actually compete necessarily with the marketplaces. I think our merchants do but we also have to ensure that we are future proofed against what may be the future retail trends and in terms of that competition. I guess technology. You certainly do feel a little bit of you. Know co optician I suppose where there should be cooperation and some competition but the positioning of shop. If i being at the center of commerce and not being a marketplace not being a discovery tool gives us an opportunity to really play with all these different surfaces wherever consumer might be found but there are elements of your business that compete with elements of some other businesses right like facebook pay versus shop. Pay or even the shop app which seemed like it might be headed in the direction of a marketplace versus facebook shops. There's no intention of turning something like shop which is really more of shopping. Assistant app really. The idea of the shop app has to be a consumer shopping assistant. So that if you're buying off five different sites plus marketplace the shop out can tell you where all of your packages are they can provide you with. Incredible realtime order tracking. It can help you shop pay which are accelerated check which is now process like over one hundred thirty seven million orders But the idea was shop is really a way for our merchants shop fai to have a deeper relationship with existing consumers so we all know that the cost of customer acquisition. His is certainly going up in some categories. And we're not facebook and we're not google we're not necessarily the discovery platforms social media platforms but one thing we can do is to increase. Ltv lifetime value of the relationship between a consumer and a brand net. Release the the the purpose and the objective around shop. There there is no. There is no plan to create a marketplace there. You'd also mentioned shop pay and facebook. Look i think social media. I think you'd probably agree that social media in places like instagram are the town squares of the current digital world and if that is the case and consumers are using social media for more than just connection there. They're using it also for things like commerce. Then it's really important that any merchant of ours that wants to sell in those platforms is able to use the best tools cutting edge technology and and shop as one of those

Facebook Instagram Pinterest Channel Finkelstein Center Of Commerce Ottawa Walmart Pinterest Amazon Google David LTV
"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

The Blog of Author Tim Ferriss

02:56 min | 1 year ago

"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

"I'm not trying to imply that you're going to let people steamroll you in any capacity because you guys are very good at short and long-term planning but what really sticks out to me. That may not be obvious from the conversation is that you guys are incredibly generous in spirits. You have helped many many many many many people. You've reached out and offered to help many many many many people without any expectation of a payback. Without any tit for tat expectation. Does that make sense. It does and actually because we're playing the long game. We want shop one hundred year company and we ourselves wanna be doing this for a very very long time and if you use a lens of very long-term perspective with two hundred years or fifty years you begin to reinterpret and reevaluate how you engage with people. You begin to think about things totally different terms. Even if i'm not gonna get an immediate r. a. y. next year. Who cares if i can help someone now. Who eventually may or may not want to help me back later on. That's good enough. But i agree with you this this connotation this. This idea that you have to doggy dog is the way to win. I don't think that's the case. In fact i would actually say. Entrepreneurship is the opposite of that. The cool part about entrepreneurship is the more entrepreneurs that you help the more people that want to help you. It creates is incredible virtuous cycle and. That's where things get really. That's the flywheel. That's that's where stuff gets really good. Yeah absolutely and people can check out finite and infinite games by cars as is also a good meditation on a lot of this stuff harley. Always so much fun while this was at the very at the very least a good excuse just to catch up and jam and talk for a couple of hours and people can find you on twitter at harley f instagram at harley website harley f. dot com obviously shop dot com and will link to the build a business and past videos of the trip to fiji in gas casts on all this craziness which people would get really cool and timbo. Thank you for this. I really enjoyed catching up as well and hopefully for your listeners. They got some value from this. But this was really fun absolutely. And i hope i hope we are hanging out fifty years. Hence i'll keep eating by veggies and fasting on occasion to try to keep me standing for that long but it's really fun to have companions on the path the so thank you for being one. Thanks to and to everybody listening. We'll have show notes as always links to everything that we have discussed at tim's blog fort slash. Podcast just search harley in it will pop right up and until next time. Thank you for listening. Just a few important disclaimers..

fiji twitter tim
"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

The Blog of Author Tim Ferriss

05:46 min | 1 year ago

"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

"I could not agree more and only in the last six to nine months have have i been using with my girlfriend. A shared calendar just for the two. Yeah and it has been such a stress reliever because she is also an entrepreneur. And if you somehow at least in my case delude yourself into thinking that you're gonna figure it out when you get there it's probably gonna slip through your fingers and having in the calendar just prevents forgetting overbooking or fill in the blank with half a dozen or a dozen thousand things that could crowd out that recovery time in that family time in these various self care practices. That are so important for everything else to work smoothly. Just a couple more questions for you and then we can can bring this round one to a close. i'm curious what contemporary ceo's or ceo's c. suite exacts do you most admire or admire greatly if that takes the pressure off a little bit. I'm just wondering what modern day current day folks do you look at it and say that's someone who had liked to. I could emulate a little better. That's someone i could learn from or that's a good person to watch etc. I mean there are some obvious ones. I think one of the cool parts of of being in my position. This is a new thing for me but one of the cool parts is using my email address. If there's someone interesting. I can actually get in touch with them. That was brand new to me months. I'm not not a flex or some sort of humble brag that was never the case i mean i. I would send out emails hundred emails a day sometimes in the early days to connect with different leaders just to pick their brain just to get to know them better and most of the time that they never responded one of the great things. Now that i really do not take for granted. I'm really a fortune to have is that i usually get a reply back which is so damn cool and so. I thought a lot about that. The truth is a lot of the people that i admire. I sort of admire from admire from afar. Bob eiger and there were met bob iger. I think he's incredible. She'll night. I think these are incredible humans but there are some companies that i think are just run by people that i really like. I really think are doing it for all the right reasons. A lot of them are people that are in the shop of fi ecosystem. We work with the. Obviously we were quite close. The folks at at stripe you you mentioned them had and john i mean. They are absolutely driven to do incredible things but also build an incredible company. I think bene- pinterest do an amazing job as well in that way. A lot of the people that i really look up to though are not necessarily intact per se. It's people that. I think one of the people that i really like. It's a mutual friend. i love talking to chase jarvis. I know you chase a friend years as well. Every time i talked to chase. I learned something completely new daymond. John also mutual friend. These i mean daymond build able to tech company. But every time. I talked to him about something unique in different. He tells me a story an anecdote about how he got a shirt on. Ll cool j. for a music video when it just from these with seems like random stories and anecdotes. I'm able to find such great value in such great motivation to think about things in a completely different way. But is there someone in particular that i'm trying to emulate entirely knock. Not really i'm trying to before i have. I had bailey our daughter. I want to talk to people that i really felt..

Bob eiger bob iger daymond pinterest chase jarvis john John bailey
"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

The Blog of Author Tim Ferriss

04:03 min | 1 year ago

"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

"I can explain to them what destination they need to get to but in terms of the journey to get there. I can rely on them. I can trust but verify. I can provide them with some bread crumbs to make sure they were in the right direction but that inevitably they will get there on their own and that may seem like an easy transition to make. It was almost impossible for me. I found that to be incredibly challenging simply on the basis. That one i think in the early days i was really insecure about hiring people better than me. I thought that if they were better than me what role was. I wanted to play which completely ridiculous and now i see that and so i had to work on some sort of personal issues. I had to work on the fact that this idea of trust but verify. What do i verify. What do i trust you. You've talked to talk about the trust battery metaphor at shop. If were everyone starts at fifty percent trust batter in through their actions we we watch them hopefully to one hundred percent which is where they get autonomy but these metaphors that our coaches us have been credibly instructive so that you don't actually know i i'm probably stolen at the sense level yet but i know the directionally. I'm going in the right direction here. And that's not necessarily something. That all coaches use the coaching style. That our coaches us. It's called the integral method which is a bit of a hybrid of a bunch of different coaching styles. But that metaphor to know where am right now to know where i wanna get to and then every two weeks an hourly basis walking through okay. Some examples of how you've demonstrated more of that sense type thinking and less than the massad commander thinking holding me accountable to that when i provide them with something that is challenging to me having them workshop with me the right way to do it as a sense. As opposed to massad commander man that has been so so helpful..

massad
"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

The Blog of Author Tim Ferriss

03:26 min | 1 year ago

"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

"I mean the other folks had the batman. Dark knight license was walmart walmart in canada. So i mean literally. I was sitting in tax law class as a complete. Nobody and i was competing against one of the largest companies in the world. And i was only able to do it because of this piece of software. This software was just magic to me. Hit pause for a quick second. We'll come back to the magic of the software. i wanted to talk about. How the hell you got the licensing agreement. If you're selling faculty of law faculty of this that and the other thing t shirts how did you go about getting the other license aside from walmart to sell these so the licensing world is really interesting because what happens is you have what's called a master license or who has the rights and is not always dear marvel or even some big company. It's sometimes maybe based on some sort of legacy or some sort of yeah like a legacy deal. Someone acquired the licenses a long time ago and held onto it. And but then you have these things called sub licenses and was needed but that was there was no way that i was able to afford the license for any of these t shirts. Or any of these logos in toronto or vancouver montreal. They were just too big of a sitting. There were too expensive but there were all these not even secondary sort of tertiary cities or tertiary regions. Where no one had the license for. No one really wanted the license for it and my thinking at the time. Was it one of the license i did. One of the shirts did really well was when the batman dark knight movie. I came out so i think it's around two thousand six hundred and seven at this time. I knew that. I was able to acquire for a limited period of time. The license for the dark knight batman logo which was sort of the new franchise me getting a lot of attention..

walmart canada montreal vancouver toronto
"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

The Blog of Author Tim Ferriss

02:06 min | 1 year ago

"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

"Dot. Io vintage and but disadvantage. When i started was it was just a lot about finding random words and the you are else dot com available. So i started this still teacher. Business called smoother. It was a licensed shirt business. So i own the rights to some of the marvel comics and dc comics and some of the rock bands allies and and just started selling these t shirts on And more importantly or equally as important the same time. I really started to develop this wonderful friendship with toby. He a know us both really well. He is him. And i are polar opposites in most ways. He is cerebral. I am incredibly extroverted. He's a little bit less extroverted and youth. Rex jurors little bit less extroverted than me The way that he sees the world is very different way. I see the and in many ways we just really connected on a mutual admiration and mutual love entrepreneurship and company building and commerce. But we also enjoyed each other's differences of each other. When i was first setting up suffer. I wanted him to waive the fees because he was a friend of mine and i thought he should waive the fees for shop and so i would basically call him every single we can ask the waive the fees and i think eventually he got so annoyed that he just made my store completely free and years later of course when i decided to join he would say that you know i was kind of this this monster and and he made his monster as opposed to be on the outside. We became really good friends and we throw at law school and business school. We just. i was a shop merchant. A fell in love with with shop. If i thought how incredibly democratizing is it that me some probably twenty two years old at the time. Some punk kid. I didn't have that much money. I had enough that able to start a store. But not enough that i was able to do anything meaningful that i was able to build a beautiful business wall sitting in tax law class that was able to compete against the largest companies on the planet. I mean the other folks had the batman. Dark knight license was walmart walmart in canada. So i mean literally. I was sitting in tax law class as a complete. Nobody.

"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

The Blog of Author Tim Ferriss

02:27 min | 1 year ago

"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

"You could use an sell yourself on a marketplace like ebay or any marketplace that allowed third party sellers at the time and even know that was inexpensive. It effectively meant you're renting customers from that marketplace. You never actually owned your own set of customers. And so toby being toby and being this credible software product genius. And i say that You know him so you know that. That's completely not exaggeration. All he didn't like those two options and so we created a third option and he wrote this piece of software. He was using a new coding language at the time was incredibly contemporary. Called ruby on rails. He was one of the core members of the on rails and he wrote this piece of software to sell these snowboards and he had a really good snow business. No devil it was a really cool business but eventually as the summer came and people were not buying snowbirds anymore. He had a decision to make either. He would start selling skateboards or something for the summer reports. Or he would take the thing that he had. He had built for snow devil and allow other people to use to build their own online stores and he decided to do the ladder and focus on the software side. Like the snowbirds. Were good idea but believed that software side of it was a great idea and he created shop by and this idea was anyone that had a product to sell was able to use shop and very easily up beautiful online store and i was one of the first people that use drop by coffee shop. I told them that. I was looking to move my t shirt business from a wholesale promotional business which required face to face engagement in two more have a virtual business that would run while i was sitting in tax law and my in my in my classes in law school and i became store. One hundred and thirty six built.

toby ebay
"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

The Blog of Author Tim Ferriss

02:23 min | 1 year ago

"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

"That this is such a strange takeaway from law school but the socratic method made me really really good at thinking on my toes. It forced me to you. Couldn't read every single piece of sign work because by the nature of law school. The a lot of the intention is to overwhelm you with content and readings and work so that when you can get ready for the practice of law in the corporate world s opposed but also they wanted you to be able to start making good decisions about how to acquire information the most effective way the socratic method for me was incredibly valuable. Because it meant that. If i was given three cases to read one of the cases was twelve hundred pages and i can't read that in in twenty four hours. I would have to understand how to get the information. How to acquire the information such a way that i could regurgitate it or it can repeated if i was called on but not know enough about it that if i didn't get called on it would prevent me from doing well in another class who also use the socratic method and that ability to quickly stay on my toes and be ready at any moment to answer a question in a way that provides the professor with the information or to substantiate that. I know what i'm talking about but didn't necessarily require me to spend all of my time. Perpetually studying that actually one of the most valuable things so would say that. In the second thing is writing in montreal. I went to jewish private school in the states. I went to a very large public high school and there was a really good public school. But i you know. I got school. I went to medial frontal. And i'd never really learned how to write really well and i only realized that in law school. I only rose in law school. That i was able to write a lot but it took me a long time just to get to the point and that actually was another major piece of shape as a pedagogical learning but it wasn't actually pedagogy. It was super practical that it taught me how to very quickly reply quickly. Think on my feet or my toes but it also taught me how to write really really well and for those things alone. I wouldn't change it for anything in the world which is very very different than i. Don't wanna sign him. As but i did a joint line so i also did with the business school whereas the nba was entirely case. Study based most of the case studies. I felt were not even steeped in any type of reality. I did not find that to be at all valuable relative to my law degree to run a company like shop. If i today just.

montreal nba
"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

The Blog of Author Tim Ferriss

04:00 min | 1 year ago

"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

"I'm gonna get the pronunciation incorrect. Possibly philip rymer is that his name. Wow you've done your research. Jesus i've got a full dossier got a full dossier who was philip. Rymer and why. Why is he relevant. Yeah so i was born in montreal. canada lizards. I was thirteen when i was thirteen. There was a referendum in canon quebec. Where i lived where quebec is a province. Want to separate from canada and the referendum never resulted in a separation of quebec from the rest of canada but it created a really tense environment particularly frankly phones living in quebec and so when i was thirteen my family decides to move down to south florida and so i went to high school in south florida and then after high school i had for a second absolutely. I actually didn't know this piece of the puzzle. How on earth do you choose. South florida if you've ever been to montreal it's the most amazing city in the world. It's it's like. It feels european almost but it's in canada which is wonderful country but it's cold as hell and february's montreal arna torius ously bad because it gets dark very early. The number of of sunlight hours is very small and it's not just february january till the end of march and i think my parents as they were deciding where they possibly could move to. I think it was. It was going to be somewhere warm and so it was a combination of being on the east coast. Es time zone and the fact that we had some friends and family that had been living there already and so they just decided. Let's go somewhere hot and so we have moved down in spite mention any six. Move down to florida and then after a high school. It was time for me to consider where to go to college and my parents didn't have very much money. And so if i were to go to a us school it would have required to take some sort of student debt. But because i was born in montreal mcgill university which grade school had offered. Basically me in state tuition and it was like one thousand nine hundred dollars a year and there was just. I love montreal. Manila's grade school and it was eight hundred bucks a year and my.

quebec philip rymer Rymer canada montreal south florida philip South florida east coast montreal mcgill university florida Manila
"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

The Blog of Author Tim Ferriss

04:43 min | 1 year ago

"harley finkelstein" Discussed on The Blog of Author Tim Ferriss

"Use the internet like you normally would but with express. Vpn encrypting all of your network traffic to safeguard your data. Check it out. Visit my special link at express. Vpn dot com slash. Tim and you'll get extra three months of express. Vpn protection for free. That's xpress bbn dot com slash tim to claim your special deal visit express. Vpn dot.

"harley finkelstein" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:53 min | 2 years ago

"harley finkelstein" Discussed on Bloomberg Radio New York

"For your Shopify lease the stock is up about two hundred fifteen percent over the last year these are the good folks at merchants set up and manage their online stores stock is done phenomena well just had some great earnings out the last couple of days Harley Finkelstein chief operating officer Shopify joins us here in a Bloomberg interactive brokers studio thanks so much for being with usually chat with you on the phone so it's good to have you in studio great to be here what is driving the growth of Shopify I mean when people think online they just they just anything retail the dissing Amazon putting retail out of business but there are a lot of retailers using your technology they're kind of get it done right yeah there's a million merchants for million stores now on Shopify and they sold sixty one billion dollars in two thousand nineteen that's up about forty nine percent the previous year our revenue for just nineteen was prompting one point five billion that's up forty seven percent so certainly I think people are being understand what Shopify is what we are is where the world's first retail operating system and we have stores are starting on shopping getting really big that's the all birds that's the bomb the socks in the world that's the gym sharks of the world to become a category leaders but also we we also big brands I mention KitchenAid and pepsico and PNG there also moving over to the use you your guys platform as opposed to building out of them themselves as I kind of the way you think about it someone built a home grown store six hundred stores and decide they don't want to run massive engineering teams in other cases they're migrating over from the large enterprise offerings so if you look at a chart of your stock since the end of two thousand eighteen it's just con stratospheric right even it's just absolutely rocketed and I'm trying to understand how you maintain that this sort of momentum at a time when there is a lot of competition at a time when there still are a lot of questions about the economy yes a couple things first of all I think when we first went public which doesn't fifteen Shopify was really you commerce provider for merchants entrepreneurs and small businesses in the English speaking world since then we've expanded well be on E..

chief operating officer Amazon Shopify Harley Finkelstein Bloomberg interactive brokers pepsico
"harley finkelstein" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:02 min | 3 years ago

"harley finkelstein" Discussed on Bloomberg Radio New York

"Well, one of the best performing stocks this year is ecommerce software company, shop affi- stocks up about one hundred thirty five percent this year, and now sports a market capitalization of about thirty seven billion dollars. To get the latest. We are pleased to welcome Harley Finkelstein. He's chief operating officer for shop shop shop vice based in Ottawa, Ontario. Canada harley. Thanks so much for joining us. I'm just looking at the Bloomberg terminal right now at your financial statements and really strong top line growth, sixty percent growth last year. I think consensus some looking here is about forty percent for this year. What's driving the top line for your company? Have me on. How always always glad to be here with you guys. I think a couple things I think first of all, as best known as being the best place to building online store, and that is historically, what we've done, we, we were the most popular in that category for a long time. The more recently, I think what's happening is people are beginning to realize shop plays actually building is the world's first global retail operating system. And our view is that if you to retail will be retail everywhere, and merchants and entrepreneurs and brands wanna sell wherever they've customers, whether that's online or offline or it's on a social media platform or a marketplace. And what does it all of that in into a centralized back office? And we now have more than eight hundred twenty thousand merchants from that has sold more than hundred billion dollars of product and actually talking to you right now, from the shop fight unite conference where we have more. It's fifteen hundred developers from fifty countries all in town here in Toronto talking about the future products really putting out to make commerce better everyone. Well, it looks like I, I noticed, you know, a big investment, you guys recently announced a billion dollar investment to set up a network of fulfilment centers. What's the strategy there? That's a big number. Yes, what we've been doing us, frankly, since inception has been reducing the learning curve, and Lebanon playing field. So that small businesses can compete with the largest retailers. But one aspect that we have not historically been overly involved with has been so much for, there's been for years. We've been helping merchants with things like a discounts on shipping and shipping labels using our economies of scale. But we now yesterday at shot the fight unite is what's called the shop film network. And this is really we're gonna be providing US merchants with a network of distributed film, and centers, and using machine learning. We're going to ensure that they know where to put their inventory at what time based on sales data, and I is that merchants should focus on running into business, and don't have to worry too much about the film it, and we think that we can provide more scale and more optimizations for the small businesses that in no way, could they do on their own? So when we think about, I guess, when I talked a retail analyst and retails executive talk about the Omni channel aspect to retail. So are you guys kind of the? Facilitator for the I guess the online part of that Omni channel strategy. Online as well. You know, again of those eight hundred twenty thousand merchants that you shop most of them came to us initially to sell online to build a beautiful online store. But more and more, we have merchants coming to us assault on Instagram or Facebook or an Amazon or EBay, or across a whole variety of channels, and we power all those things. And so once shop play count through your shop. If I had men, which is that operating system, I was mentioning earlier, you can decide where to push your products and you decide where to put your products based on where your customers might be. But you may be selling across five channels or two channels, or eventually twenty or thirty channels. And we think that what would merchants and brands really need is a centralized place to manage all of those and other things we mentioned yesterday was sort of new focus on physical retail shop a fight. We'd had a point of sale product for brick and mortar retail for quite some time. But and we've got one hundred thousand merchants using it, but we don't yesterday was a brand new shop point of sale product both software and hardware that we built ourselves. And we think that we actually think physical retail is having a moment. And so as we think about where retail is going, we think the future, retails, retail everywhere, and shop, if I want to be the company that powers, retail everywhere. So hardly mentioned eight hundred twenty thousand merchants on the platform right now. Just give us a sense of is. Are you a global platform is at US kind of where you guys down your in your in your platform? Great question. So we've merchants in more than one hundred seventy five countries historically are focused has been on English speaking world, but over the last year or two we've, we've really invest more heavily in international. We think that we can do, do the same thing for international merchants as we've done traditionally for the English speaking world, and so but twelve months ago we've translated shot the FIS admin into six languages. We've announced, but another twenty languages. We're translating to we now have local payment methods in each of those countries where we operate, we have partners on the ground that are supporting our merchants building stores for them building apps for them. And so one of the real focuses for nineteen is beginning. This, this movement to be a truly global company. And I think the fact has merchants at one hundred seventy five countries tells us, there's pent up demand, but we want to find product market fit in those other countries where we have in places like US, Canada, UK, Australia, and some western Europe countries. I thank you so much for that update on shop affi- Harleys the chief operating officer for shop by joining us on the phone. We appreciate this comet shop. If I again the stock just just been a great performer up over one hundred percent this year. It's got a significant market cap. Thirty seven billion dollars, and it's clearly a play on what we've seen from coming out of the retail space, in general, as bricks and mortar retailers recognize that they have to be an I'll use the term that I hear in retail Omni channel, which is physical. It's online. It's you know, you need to kind of be everywhere on the Amazons and ebays of the world and shop. If is one of this technology solutions for retailers setting up. Online storefronts and it kind of goes to the issue of not just the big retailers. But a lot of the small mom and pop retailers that, you know, recognize that they need to have a vibrant presence in the online business, so an opportunity to play on how retail is changing across America looking at the markets right now. Real quickly SNP up seventeen the Dow up one seventy five NASDAQ.

us chief operating officer Omni Harley Finkelstein Bloomberg Canada Lebanon Toronto Ontario Ottawa Amazons