35 Burst results for "Venture Capital Firm"

How To Make Better Decisions, Faster With Matt Bodnar

The EntreLeadership Podcast

06:40 min | 4 d ago

How To Make Better Decisions, Faster With Matt Bodnar

"Every day were making decisions. Now hopefully take our business to the next level. What do we do with this particular team member. How do we find the best vendor. What colors and fonts should go on the website for next marketing campaign and hundreds of other decisions like these that we have to make every single week. The stakes are high. We can't afford to make a bad decision from the ramsey network. This is the entreleadership podcast where we business leaders grow themselves their teams and the prophets. I'm your host. Daniel tardy am i guess. Today is matt bonner match the chairman at fresh technologies and he's done a lot of cool stuff. He's helped star businesses run businesses launch. New business turn businesses around and especially as passionate about helping businesses scale up from the startup stage to be in a big deal. He knows a lot about decision making strategy and how to align our behaviors with our goals. But he didn't start out in this space in fact he actually started out as a successful analyst on wall street. He was making a lot of money at goldman sachs and so. I was super curious to ask them. Hey matt why did you leave. One of the biggest influences in this is a book. That's influenced me tremendously. Was the four hour workweek. The whole tim ferriss thing and so reading that and really thinking about what do i want to do with my life. And and where do i wanna spend my time and and thinking about. I mean in a place like that you can see the trajectory. Stay here fifteen years. I'm back. I if i stay here twenty years on that guy etc and so i could see what the future looks like and all they wanted to do something more entrepreneurial and i had this epiphany i was reading this article on bloomberg about one of the founders of google. I forget if it was larry page or or sergei would basically set this thing. And they've saying you know which everyone is. The ceo at the time and their salary was one hundred thousand dollars and as a first year analyst at goldman. My salary was more than that. And so i read the article and i kind of had. This chuckled to myself as like a twenty one year. Old or twenty two year old. And i'm like. I'm so awesome like i have a bigger seat salary than the ceo. Google and then literally there was a comma and the next half. The sentence was like andy's worth twenty seven billion dollars stock or whatever and so it was just like an anvil like crushing on the head. That was like oh. You don't get wealthy from a salary you get wealthy from having equity in something and that was really. That was a big difference for me that that made me realize that having a having a high salary doesn't really mean it helps but but ultimately ownership equity is really where you generate the most value. So did that. Prompt you to think i wanna start my own thing. I wanna build something. My dad's a very successful restaurant tour and he he had been doing. A bunch of stuff in nashville. And kind of the southeast. Broadly for you know. While i was in middle school high school all that stuff and he was always when i was up at at goldman he was always like a bug in my ear. Hey come back and you know. Help me out. Come join me join me. And so eventually I answered that call in and move back to national got involved with him in a in a company called fresh hospitality which is an investment business. Essentially that invests kind of across the food and restaurant world and scales various different restaurant brands. How big was the team when you joined basically me my dad My brother and one other gentleman whose name was nikola haggas is basically four of us at the time and There for yeah. Yeah and i mean there were there were other. I mean we were essentially almost like a small private equity or venture capital firm and so I mean the operating companies that we invested in obviously had a bigger sure employees based but really that was it at the beginning. And and since then we've built this whole kind of ecosystem and infrastructure of businesses. You've worked with a lot of businesses here locally many that. I've personally been a patron and i remember martin's barbecue when we went when they were a little like double wide trailer out. South nolansville autobody shop was yes barbecue around. And nobody knew who they were. Unless you live like right in that little community and now i mean if if you know martinsburg if you've been in nashville you know martin's barbecue i mean it's just it's the spot that you go if you're a nashville I'd love to hear that story. You know i mean you you you guys. Clearly were part of them you know becoming a big deal and kind of putting him on the map And i know you guys do that with countless other. You know restaurants But how do you. How do you find the martin's barbecue when they're just this little local story and nobody really knows who they are. I mean we're we're at a point. Now where and i think you see this in a lot of different businesses where you get inbound deal flow right and so i mean we. We met pat actually through a A point of sale reseller that we that we had a relationship with was selling terminals and that he's a hey. This guy's got a really cool thing. You should go check it out and so we went and we went and just had lunch. They're checked it out and got to know him and You know helped partner up from from day. One when they were back over that little auto body shop and You know our whole thesis for for how we invest in a company's specifically within the fresh Platform is we have this whole ecosystem that we've developed over the last decade or so of everything from technology to accounting to Real estate expertise marketing the whole the whole suite of services that sit around a business and we go in and we ate we provide them growth capital but we also provide them what we call our intellectual capital of all those different things to help them scale up and so you know we. We plugged that infrastructure in and really helped him. I identify a great site. And that was their store nolansville. That they moved to that was across the street. The kind of bigger flagship store and then started very strategically looking at. Hey what are some other great opportunities for this brand and and really one of the biggest strategic decisions we made up martin was we ultimately decided that we needed to have a presence downtown and to to truly be a competitive player in the in the nashville barbecue space and plant our flag so to speak. We we needed. We needed something downtown in. That's how we ended up ultimately finding the property at martin's we call it rutledge but the downtown martins barbecue and and that's we now we sort of we. We jokingly referred to it as the mothership because it's it's this behemoth compared to the other typical martin stores but it's been a really great opponent of that business.

Goldman Ramsey Network Daniel Tardy Fresh Technologies Tim Ferriss Matt Bonner Nashville Nikola Haggas Larry Page Martin Google South Nolansville Sergei Bloomberg Matt Andy PAT Rutledge
Robinhood, in Need of Cash, Raises $1 Billion From Its Investors

Techmeme Ride Home

00:23 sec | Last month

Robinhood, in Need of Cash, Raises $1 Billion From Its Investors

"Hood still needed more cash quickly to ensure that it didn't have to place further limits on customer trading we to people briefed on the situation. Who insisted on remaining anonymous because the negotiations were confidential robin hood which is privately held contacted several of its investors including the venture capital firms sequoia capital and ribbit capital. Who came together on thursday night to offer the emergency funding. Five people involved in the negotiations said and

Hood Robin Hood Ribbit Capital Sequoia Capital
interview With Meagan Crawford

Main Engine Cut Off

04:11 min | Last month

interview With Meagan Crawford

"Well. Megan welcome to manage and cut off. This has been a year overdue at this point. An entire pandemic overdue. Maybe i'm happy that you're here talking to us. I'm really thrilled to be here. Thank you for having me anything so to start. I want everyone to meet you. Because you're awesome So you are a member of space fund. You also have this podcast mission eve. That is fantastic. Can you tell everyone a little bit about you sure. Yeah co founder and managing partner of space fund Where venture capital firm investing exclusively in the new space ecosystem so very kind of targeted fund And then i also have my podcast mission eve which I interview the most amazing women in the space industry. It's just been a thrill and just so much fun to do. And in the hopes of inspiring more women to join us here in the space industry So that's that's a project that's near and dear to my heart I'm also on. The board of several nonprofits needs to do a quick shout out the space frontier foundation. The center for space commerce finance mars initiative and the earth light foundation Spend an inordinate amount of my time helping those at nonprofits. So i think that's probably about it so we're gonna talk about a bunch of different angles on the finance side of stuff which i occasionally touch on but probably not as deeply as i should in many cases there's some fundraising that has happened. In the past year that has been particularly notable for the size specifically spacex relativity. Been getting gargantuan amounts of money there's some acquisitions that have happened recently. And then There's a whole trend of holding companies. That i find quite interesting as well as a trend that i find interesting and more shady. Which is this whole special purpose acquisition friend. Those are the things. I want to pick your brain about. Is there an order. would you like to start with fundraising and then get into what happens after. You've gotten a bunch of funding and actually accomplish things. What's the right order there. Yeah well I think i'd like to start with this kind of startling statistic that that i i like to I like to bring up a lot. Is that One and it's it's one of the reasons that spaceman was founded. Actually is you know. Currently launched comprises less than two percents of the global space economy yet has received seven percent of the venture capital. Today right sounds crazy but it. It makes such intuitive sense to like you know somebody watches the markets but exactly crazy. Yeah that's crazy. Yeah i like it when you hear that you're like oh yeah that seems right but holy crap. That's crazy just hear those numbers right and now the one question i would have is. Does that. include any space x funding as launch. Yes that includes spacex funding and includes the you know that big relativity rounded includes all of that. So i guess that's my that would be. My stipulation is like how. How do you separate out. What of that is going to starlink. zach satellites. Then does that skew it or is it not big enough to actually skew. Anything no matter how you classify either couple billion. Yeah so you know the regardless. It's it's a huge number even if he were to try and take starlink out of the kind of the space x portion of that. They're going to be forty percent of the venture right number exactly exactly and so you know when When my partner. Rick tomlinson and i were contemplating a founding space fund. You know this was one of the things that was really bothering us. We were kind of looking around the industry at all of our our friends and colleagues. Who are these brilliant entrepreneurs going and down sandhill road and couldn't get any funding and meanwhile while all these other. Vc's are just pouring good money. After bad into launch company after launch company because all ilan has launched company and basil's has launched company and jared. Leto is invested in in relativity space so i need a launch company. Right and base fund is currently tracking a hundred and sixty two active launch companies around the world.

Space Fund Where Venture Capit Space Frontier Foundation Center For Space Commerce Fina Megan Spacex Spaceman Zach Satellites Rick Tomlinson Ilan Leto Basil Jared
An Apple/Hyundai Car?

Techmeme Ride Home

03:29 min | 2 months ago

An Apple/Hyundai Car?

"Hundai has confirmed that it is in early discussions with apple on collaborating to develop a self driving car. But in case you're jumping ahead to apple may be buying hyundai or anything like that. This seems to be just a partnership right now and also hyundai says apple is talking to several carmakers about a bunch of things right now so quoting. Cnbc we understand. That apple is in discussions with a variety of global automakers including hyundai motor as the discussion is at its early stage. Nothing has been decided a representative from honda motor told. Cnbc's cherry king. The statement followed a local report from the korean economic daily. That said apple suggested the tie up and honda motor was reviewing the terms. The report said both electric vehicle production as well as battery development were included in the proposal. And that the car could potentially be released in two thousand twenty. Seven apple declined to comment on the report and quote at the exact same time in bloomberg mark. Gurman has a piece up saying yes. Apple is developing an autonomous electric vehicle. But the timeline for release. His sources say is five to seven years. Also this quote a key. Differentiator would be apple's ability to integrate. Its driving system a pricey initiative that has spurred the company to develop its own software sensor hardware chip technologies. The goal is to let a user input their destination and be driven there with little or no other engagement. According to the people familiar with the project apple doesn't manufacture its own products and it will likely take the same approach with a vehicle. It's unclear which company would assemble the car. Though in its first attempt about five years ago apple worked with engineers from magna international a major auto industry contract manufacturer apple has continued to investigate building. It's self driving car system for third party car partners rather than its own vehicle the people said and it could ultimately again abandoned. Its own car. Efforts in favor of this approach in assign it has now rebooted development of a vehicle apple in recent months shifted in executive known for his work on vehicle interiors and exteriors to its car team in twenty nine thousand nine apple hired former tesla engineering. Vice president steve macmanus but he initially worked on projects unrelated to the car. Now mcmanus leads a development. Group was several employees focused on car interiors fabrics car testing and vehicle manufacturing people with knowledge of the matter said he reports doug field a former top tesla vehicle engineer. Who runs the apple car project. Day to day apple also recently hired jonathan seve a vehicle engineer from bmw ag tesla and alphabets as a senior manager on the car projects in two thousand nineteen apple. Tapped michael schwer kuch tesla's former vice president in charge of drive systems adding to a growing list of former tesla employees working on the vehicle effort late in two thousand twenty apple also hired another former tesla vice president stuart bowers. According to a person familiar with the move. He led tesla's self driving technology team until mid two thousand nineteen and was an executive in residence at venture. Capital firm grey lag partners until july. According to his lincoln profile apples car team is filled with dozens of other x tesla hardware and self driving car. Engineers in total apple has several hundred engineers working on the project with most of them developing the self driving car system rather than the full fledged vehicle and

Apple Honda Motor Hyundai Hyundai Motor Tesla Gurman Cnbc Vice President Steve Macmanus Magna International Bloomberg Doug Field Jonathan Seve Bmw Ag Michael Schwer Mcmanus Stuart Bowers Alphabets Grey Lag Partners Lincoln
Zconomy: How Gen Z Will Change the Future of Business with Jason Dorsey

Entrepreneur on FIRE

29:22 min | 3 months ago

Zconomy: How Gen Z Will Change the Future of Business with Jason Dorsey

"Jason. Save up to fire nation and share. Something interesting about yourself that most people don't know sure what's up. Fire nation thrilled to be here with you. Huge fan fire nation. Everything about something that most people don't know about me is. I wrote my first book when i was eighteen years old and it was so successful. I ended up sleeping on the floor of a garage apartment with five thousand books that i had printed thinking somebody was going to buy them instead. They were furniture. So a bed of books means you're not selling as many books as you want to fire nation but guess what jason's grown he's matured and right. Now he's rocking z. Konami which is all about generation z. And how gen z is going to change the future of business. So i kind of want to start a few steps back jason. Because i'm just curious like how does one get into studying generations wide. Did that interest you. And why did you get into it. Yeah share well that. I book that i wrote when i was eighteen at ended up not selling it first and then becoming a real big bestseller and i started speaking all around the world and i ended up on sixty minutes and i was on. That show is all about millennials. And i'd written a bunch of books and started a company and everything was going great but after that show i started speaking all these corporate executives who are now our primary clients but i was speaking all these exact and he would say such terrible things about millennials and i am a millennial pretty fended lazier titled your pants or fall off. You live with your mom and all this stuff. And i'm like well. No actually. I have my own house in our own office building in my parents worked for me and my pants are on very snugly. Thank you very much. And so so after that i remembered Clear as day. I was in this boardroom. Big public company and the ceo had said Some things about millennial employees. That i just i didn't fully believe and i'd spoken about half a million millennials at that time and so i asked him because i didn't know any better. Now i serve on lots of corporate boards. You know one of the couples on sold for eleven billion dollars. I live in this world now. But back then i didn't i didn't i didn't know and it was really a set up for success so i asked him i said is there any way i can see your data about millennials because you say the turnovers hiring. They're not as engaged and on and on i. I love to understand better. So i can conceptualize it and maybe help also for so. There are a lecture or whatever so they sent the data to me. And the data didn't match with the ceo had just said in the boardroom which basically never happened. Ceo's don't go off the cuff in front of their boards prickly a private publicly-held company like that. So i asked my wife who has a phd. I said denise you know this is. The strangest thing was just in this room with this pretty famous. Ceo they said all these things with great conviction then. I looked at the data and the data doesn't match what they just said. I said what do you think we should do. And she looked at me and she says we start a research for. She's up because if they don't even know their own data if we can help them to understand their data make better decisions and we can really great copy and help lots of peoplesoft. Lots of challenges and so. That's how we got into this thirteen years ago. We founded the center for generational kinetics. We lead research all around the world for many of the biggest brands in the world. And all about separating generational myth from truth through data so leaders can make great decisions whether you're a startup or venture capital or your bootstrapping yet or you're in a big public company getting accurate data and being able to make decisions based on that increases the likelihood of success de risk strategies. That you're looking at drives innovation and so forth and we found that generations in particular or one area where there was just so much myth and so much misinformation and if we gave people great information that it could take action and that was incredibly exciting. We've had seven hundred clients since then which is pretty wild and done studies all around the world and just love it absolutely it now. Your ceo is just flat out wrong when it came to millennials and you had the data to back it up. Did you ever go back to him. And just be like joe burrow. Check us out. you're wrong in also my pants. They're pretty snug. Check them out. I know that was a quiet. But i really do credit him and i if it wasn't such a negative story i would say what company is because it's really big famous company but But no but. I do believe that he something that we saw frequently. Which is the idea that generations older generations. Think of millennials through the lens of their kids or their grandkids and so that that becomes a proxy for the whole generation. And in fact when we wrote the economy book new book. What we found is the same thing was happening again and there was all this misinformation and it just wasn't true and that's why we spent less two years right in the book is because we've got to clear this up because when people have the wrong impression about an entire generation it leads to so many problems for everybody. Everybody loses so no. I never never corrected him on it. But i do give him credit for sparking the idea. I'm glad that you do give them credit for sparking that idea because sometimes fire nation. Is those things you just like you know. I'm not just quite sure about that. Let me look into it. They can really uncover some great opportunities in one thing. That i think is a huge problem in this world in general and especially when you're talking about generations is just regurgitation. You'll hear one person on one talk. Show say one thing. And then you'll regurgitate it. And then somebody else regurgitates regurgitation and like seven layers down. You're like how'd you hear that. They're like oh. I don't really know like somebody just mentioned it and like now you're speaking it like it's the truth and it's just regurgitation of what you know is something that has no data to back it up. So what most people get wrong jason when it comes to generations break that down for us shared. There's a few things that jump out. The first is this belief. Generations are a box or stereotype and that is absolutely not true. We're generational researchers. This is what we do more than sixty five generational studies and what we see is generations are not a box but what they really are powerful clues and as long as we used them as clues and only clues to dry faster connection trust and influence in create all kinds of positive outcomes. We don't wanna put people in boxes. We wanna use this as clues. So we can figure out how to better lead market sell collaborate innovate and so forth. And when you sort of at that level people seem to really embrace it because it just gives them another lens to better connect. So i think the first is people think. Generations are boxes or stereotypes. And they're not in fact. Our clues are driven by math. We look for what's called predictability by scenario so that's the first thing that people i think it wrong. The second is this idea that generations are the same around the world. Now one of the things that we've uncovered repeatedly in our work. We publish all this on our website. Is that generations vary by geography so for example in the us will see differences between urban and rural within the same generation. And that i work a lot outside the us and we'll see differences. Has we travel around the world and that's important because if you're a global company or frankly a global brand fire nation is you want to make sure that you really representing each of the different geographies. And what makes them different now. One cool thing that we've uncovered and we talk a lot about this bunches. Economy is the most consistent generation the world. now that doesn't mean exactly the same but the most similar generation the world is now gen z. Gnc's about twenty three twenty four years old. The oldest and the reason the most similar is because of cheap mobile technology so if you live in different countries around the world you might even get your phone for free as long as you use it for payment. Think about it started using a text. Payer sort of like a mobile credit card in different parts of the world and because we've driven the cost of a mobile down solo basically two zero in many places now. All the sudden young people around the world are having access to entertainment news information dating banking on and on and on and as a result of that. We're seeing a lot more similarities. As i travel all around the world the younger you get but interestingly the older you get even to gen xer baby boomers from a different planet as you travel around the world. So that's something people get wrong. And then the last thing that i think people get wrong. And is they have to deal with a bunch. Is people confuse life. Stage or age with generation. So for example jen's is now twenty four but when we do studies and ask people how do you think the average millennial is they'll say twenty five as if we didn't keep getting older you never talking about millennials for fifteen years. Say there they're now forty. I think that's a board it because you stay in the saying generation but you pass through different life stages and frequently people confuse the two and it's very important to understand the difference because if you're trying to market or employer build a business that targets different groups generations gives you all these clues but we got to distinguish between the generation which travels up right at ages up baby boomers for teenagers versus life. Stage for example high school or college which are still pretty similar ages as they have been for the last four years and so knowing. The difference helps you to understand that. Yes really interesting. How people always confuse age with generations. And how that all goes. I mean you know. I was just talking to a friend the other day literally. He's in his late thirties. I'm in my late thirties. And he's just going off and riffing about jenner. How millennials or just entitled and all this stuff and it looks like you know where millennials. He's like oh no. I'm definitely not a millennial mike. Well we're we're like the oldest millennials millennials. And he's like well. I need to look at that. And so it was funny. He came back. We know there's actually a lot of great things about millennials and he's now like listing off all the good things because he now is identifying himself as a millennial so it's really interesting fire nation and yes. We do get older. That is what happens to all generations and all human beings foreshore. And we're gonna die something. I'm pretty excited about as soon as we get back from our break which is about how generational work is actually going to solve challenges for both entrepreneurs that's you fire nation and companies as well as soon as we get back think is the best platform to create market and sell your own online courses in. We speak from personal experience. We've been hosting our online courses within kick since two thousand seventeen with dinkic we can deliver content to our students in a simple user friendly way that allows them to learn and take action fast plus our students are always raving about how easy it is to follow the flow of the contents. Thanks to think theme and templates. So if you're ready to create an online course to help you reach a wider audience build revenue in make a bigger impact than think. If is the perfect partner to have by your side to prove it. Think if it has an exclusive for you fire nation. Their five day course challenge. Here's what one of their recent students had to say about. This challenge helped me gain the confidence and clarity. I needed as well as a perspective required to compile my specialized knowledge into marketable contents that others will be willing to pay for sign up for this free challenge today at think dot com slash fire. That's t h. I n k. I f i. C dot com slash buyer looking for business. Coach was helped thousands of entrepreneurs just like you to increase profitability by an average of one hundred percent per year all for less money than would cost a higher a fulltime at minimum wage employee fire nation meets clay. Clark klay has been coaching businesses. Like yours since two thousand six yep even through the great recession and he does it for less money than would cost a hire a full time minimum wage employees at a time when inc magazine reports that by default ninety six percent of businesses will fail within ten years claes helping businesses like yours to grow on average by one hundred and four percent annually. Houses even possible clayton only takes on one hundred and sixty clients so he personally designed your business plan. Plus cleese team helps you execute that plan with access to graphic designers. Google certified search engine optimize web developers online added managers videography workflow masters in accounting coaches visits thrive time show dot com slash fire to see thousands of video testimonials from real people. Just like you. Who plays helped over the years. That's right do your research view. Thousands not hundreds of proven documented in archives videos. Testimonies from real people just like you. At thrive time show dot com slash. Fire thrive time show dot com slash. Fire then schedule your free consultation with klay himself to see how he and his team can help. You thrive so jason. We are back. And as i kind of teased before the break. I wanna get into. How generational work console challenges for fire nation. That's for us entrepreneurs but companies as well. Sure that with us. Sure one of the things. That also is not obvious as i'm venture partner at a venture capital firm and serve on lots of start up boards. It's an extremely passionate about and what we're seeing much of the opportunity being created today has a generational trend or thesis. It's the adoption of new technology new solutions or bringing a different way to look at old problems and when that happens that's where both change and frustration and challenge and frankly companies go out of business but it's also wear new opportunities are created so i'm speaking with entrepreneurs and working with entrepreneurs were trying to look at what are millennials and particularly gen z. Doing right now that you might want to be able to build a business around or leverage as their pine power influence increases so for the first time what we're seeing is technology trends are rippling from the youngest to the oldest and that's a huge shift. It used to be from the oldest more affluent down to the youngest. But now we're seeing younger. People are actually driving tech adoption up to the older but the key as an entrepreneur mississippi that we coach entrepreneurs about is being able to sort of step out of your generation and look at it through the lens of another generation. it's what we call generational contexts. One of the best ways to do that is actually bring members of that generation into the conversation. I can't tell you how many times i'm speaking at places. And they're asking me all these questions about millennials or gen z and. I'm like well. Why don't we invite some of them to the conversation. Let's talk to them. Uh let's actually talk with them. See what they say. Say get and so. I think when you look at bringing generational diversity into the workplace into innovation. You can solve all kinds of interesting challenges. I'll give example right now. What we're seeing is the gen z and even younger millennials. I talk about both of these in this economy book. They want a different on boarding experience. Obviously we're in this time of covert and all these changes but even before that what we saw is that the youngest generation wants to be on once on boarding to be by text message. Which sounds i know a little bit wild but there are companies. Do all of their on boarding through text message so you get semes- before you Short for your first day in alaska you just give you a simple example. This is in the book from coming called on border. When you they'll send a text message and it'll say what's your favorite snack three o'clock when your energy starts to go down. Do you have a favorite sports team are causing all this sort of stuff and the is when you show up for your first day. Or they'll even now senator gift baskets to your house. They'll have all your favorite snacks ready for you on your show up because they already know because you put in your text message or the. Have your favorite sports team. Or they'll find the best place that you wanna go eat or have that food delivered so they're engaging you by text message in a process that generally used to be in person and frankly pretty terrible at most companies. There's another company that worked in with again. This is generational trend. They figured out how to pay all employees fifty percent of their wages every day at no cost. They're called instant and what they did. Is they basically said you get a text message or message on your phone after your shift. And it says hey. Would you like half your money today. Yes or no. If you click s you get your money. Will all the sudden now you have. An entire generation is growing so fast that thinks they should always be able to get half their paycheck. Every day will imagine how that changes so many other things and all the sudden other generations. What do they say well. This text messaging on boarding thing is pretty cool. You mean i can get paid every day. That's pretty awesome. I think i want that. To and all the sudden the generational trends creates huge businesses. And those are the types of things were seeing you know so much. Innovation is driven by other generations. This is the key they don't even think it's new or different when we interview them. They think you've always been able to do on boarding by text message because they never got on onboard before there was text messaging or if they've only worked at a place that gave them the ability to get paid every day. That's how they think everybody gets paid. And you know older generations. So i work with the frequently. Get defensive and they're like you know. The young generations are trying to change everything. And i'm like no. They're not this is just all they've ever known they don't know any differently. Change to them is actually doing what you're proposing and it's not about one being right or wrong. It's going we can. We can leverage us. We can adopt this and all the sudden on boardings better retention is higher engagement is higher in these types of things and you see it on the marketing side for those fire nation members who are really growing their businesses and they're more than sales marketing. Same exact deal and the idea is just recognizing this you're creating so much opportunity. We see this particularly with social media. We see this with podcast such as yours that this is a great way to engage younger generations who then index for talking about these things and driving awareness in referrals and excitement fire nation. So many things to take away here. One of my favorite things jayson broke down was specifically tech trends are rippling from the youngest. To the oldest. Like think about that shift. Think about that change. How the ripples actually going from the youngest to the oldest now which is a complete flip from how it used to be back in the day and one thing. I wanna really dial in on just because i'm personally curious and i think fire nation is to is this the up and coming generation now. Let's talk about generation z. Like who is generation z. And what do we need to know about them. Yeah absolutely so gen z. The key thing is that they're already twenty three or twenty four years old. So that's a good starting point and what we uncovered in our research and we publish. This is economy. Book is at gen. Z is the key thing we got all these research firms around the world to change their birth years. Gen z does not remember nine eleven and that is a huge deal because it's the biggest event for the millennial generation we call generation defining moment. But jesse doesn't remember it at all. They learned about it in school or heard about it from a parent or they watched the video on youtube. But it's not something they experienced and they're now twenty three twenty four years old so a huge event of the generation before they don't remember in fact they're they're covid nineteen is essentially their defining moment. This pandemic is the generation defining moment that they're gonna take with them and we talk about this a lot. So one thing is they. Don't remember kievan of a previous generation and the other is there. Cuban is happening right now. But what i think you're entrepreneurs will find super interesting is that we've been doing this. Study for the last five years called state of gen z and. It's our big study released every year. And what we've uncovered and we've seen it for five years in a row now is gen. Z is more practical or frugal with their money than previous generations. And this is shocking and when we dig into it what we find out is that gen z came of age around the great recession. And what do i mean by that. Their speakers are experts. Like you talked about earlier. This regurgitation people running around saying oh gen z struggled during the great recession in the workforce they were twelve and were not working right but instead what they did is. They saw their parents struggle. They heard their parents struggle. They know people lost their houses. They saw millennials drowning in student loan. Debt having back home a mom and dad and you put all that together and what you see is. They're very conservative or practical with their money. As a result they're driving double digit growth at stores. They like couponing they wanna know. They got a good deal. They want things to be a bargain. They want them to last a long time really have utility and what we see. The example. i'd like to give is a gen zero sixteen years old. We'll have a birthday party. They'll get fifty dollars. They're all excited it away. And then they'll go to their mom or their dad and say hey. Can i have fifty dollars. Wanna go buy something. Mom or dad will say but you just got fifty dollars. And they'll say oh. No that's my money your money. It's overseeing that so if you're trying to market to them you've got to understand their practicality with money we also see the gen z when we do values based research. What we find is for the last four years Their top concern was climate change. Or would they would call climate crisis in their own words. And so that's been the top that they've been looking for brand alignment and for entrepreneurs to get behind and so forth however in the last six months we are new study. Social justice has leapfrog. Climate changes their top issue. And it's significantly more now so all the sudden as you see the generation respond to events around them. You can sort of see how they're shaped so if you wanna make sure in line with their values you gotta know what their values are going. Even deeper on the employment side is people look to hire them. Gen z no is looking for stability. This one's this one's tougher for entrepreneurs. So i want to explain it. They're looking for stability in an employer. What do i mean by that. Gen z saw these layoffs. I heard the layoff. Seen millennials struggle and as a result they're looking for an employer that they view as stable. So it's interesting because they tend to automatically defined stability by being a big company. So they'll say. I want to work for a big company will say why and they well because they're stable and the truth is you and i both know that. Just because you're big company does not at all mean that you're stable and just because you're a small business doesn't mean that you're not stable so it's important that you message to them. We also found in our research is gen. Z is very much interested in benefits which is shocking given their age in fact two years ago. Twelve percent of gen z was already saving for retirement. Wow and yeah. That's crazy right and many of them already have an emergency savings account. These are eighteen year olds. That are taking up their phones showing us emergency savings accounts and it. Just it's such a different generation. I think the key here. Mrs so important for all the marketers who are listening our nation is at gen. Z is not millennials. Two point oh they are not millennials. Just more extreme. That's total bunk. People say that it is not true. Jesse is a completely different generation raised by different set of parents who has come of age only knowing social media it has always existed for them. That's why they trusted so much at the same time. They're more diverse than any previous generation. Different set of values different purchasing pathways. And now the key is they over index on influence because of how they use digital media and already twenty four years old fastest growing generation in the workforce today on a percentage basis. And they're gonna be the most important consumers to get right over the next ten to fifteen years. One thing that i assume and please correct me if i'm wrong. Because it's just an assumption but generation x. And millennials like this is like. I'm speaking of my generation's here that i cut kind of overlap. Both pretty closely. It's we came to like being seventeen eighteen years old and it came to money in debt. Just kind of close our eyes and kind of believed the rhetoric of. Hey you just have to go to college and it's going to be expensive and you're going to get college dad and that's okay and you're just going to be a paid off at some point in the future and now like millennials and gen xers just hammered with this dead. They can't payoff ten twenty even sometimes thirty years later because it was just brutal with the mountains of debt that people kind of blindly get into it. Seems from what you're saying. Generations not gonna kind of take that same approach in just blindly. Sign away their lives to this debt of secondary education in colleges and universities in the such. Is that true. Wow that is such an insightful. I mean you you are super pro do so yes. That is actually true What's interesting is when we studied student. Loan debt with millennials in particular. That's what we call an economic anchor. So what it's causing. It's actually causing millennials. Now this is wild to delay marriage kids and buying a home because of student loan debt and that has massive ramifications on all parts of the economy to everything from financial services whether or not. You're buying life insurance. You know the the homebuilding recovery like on and on we could keep going to income households. There's just there's so many things that are impact even ultimately the ability to take care of your parents later on so what we saw. Was that large student loans at delayed major life commitments which we which is what's happened as a result And by the way gen z will tell you they're not sure that if spending a whole bunch of money and college actually pays off his it remains to be seen right now for millennials. We were told. I'm a millennial. We were told getting the best college at an. Just get debt. And will all be worth it and then for a lot of it wasn't on the flipside. Gen z in our new. Study in this in this economy book because it's important to understand how thing about education gen z is trying to graduate from college with as little as possible ice which is super cold. They're also saying that they're looking. They're very interested in the employability of their career. So so if they go and they pursue a certain path. Am i going to be able to get a job in that path. Now by the way kobe. Nineteen has been a massive massive. You know challenge for that because there are people that were three or four years into college university you know. Maybe they're going to study retail merchandising. Well aren't hiring never hired for that role again or they studied. You know oil and gas and those aren't hiring whatever it is so all the sudden people who already had you know pretty heavy commitment are now realizing that that path isn't there for them but we are single. Gen z particularly during this experience. Right now is they're saying. Hey i want to make sure. I'm getting value for my education and raven seeing well if it's going to be online only i'd rather go to a community college or state school or somewhere else. Get some credits. And then i'll figure out. If i want to go back into the future maybe take a year off and then come back and so forth so there definitely much more conservative with debt when it comes to college university and by the way the other people who are more conservative are their parents boomers had to cosign on all those millennial loans just. That's my mom about it right. And that as a result for many millennials it was tough for them to pay it off on the flipside. Gen-x is going well. I don't know if it's worth it gen x. Gen z kids. You will not end up. Like those millennials so the that's also being weighed into the conversation now is college university worth it and then you add the layer of kobe. Nineteen is it worth it if it's nontraditional experience and you know i don't know the answer to that but it is something we're observing and now this is where it gets really interesting. So the oldest members of gen z. Those that are about eighteen to twenty four. They're bearing the brunt of this. Pandemic what i mean by that is in our latest study. That group was most likely more than any other generation to lose their job. Have a decrease in pay or have a shift in responsibilities meaning. They had to assume a job that they didn't sign up for where it gets interesting though is younger so my daughter is nine years old. Her name is russia Sushi is in fourth grade right now. She heard this is in the book in third grade. Her last end of the year project. Which i didn't know anything about Was she went and built a presentation. She built all and google sides. She built it all in spanish. She had animation. She presented it. She recorded it and then she uploaded to classroom and she thought that was completely normal. She's nine and then of course. You saw one of my powerpoint slides. He's not very good. So i say that because the younger members of gen z. This is the real twist here. They might end up turning this pandemic into a positive. Because they're going to learn a whole different way to learn to collaborate they're going to get the benefit of the older part of the generation struggling. So they can learn from them. All of this stuff largely will be resolved in terms. Of least what normal looks like in the future and so they're gonna get the benefit of all of that the closer you are to those transition years of eighteen to twenty four the worse is but the further away the more benefit could end up being you so it's pretty interesting that within the same generation you can have two very different experiences and by the way this is what happened. To millennials millennials like me who crashed into the great recession and then the millennials who came afterwards who benefited from a very robust economy. So even within the same generation you can see pretty significant differences. I mean fire nation. I really hope you're enjoying this contest. Much as i am. Because i'm seeing the application to the real world and that's so important because we're entrepreneurs in the real world. We own businesses and companies in the real world in this stuff makes a massive impact so jason of everything that you shared today. What's the one key takeaway that you really wanna make. Sure fire nation gets from all of this awesome stuff above generational impact and the generational studies. That you've done and then share how we can even learn more about it through you and any call to action. You might have for fire. Nation is time to share. Yeah absolutely so the number. One thing that i would share. You know as an entrepreneur myself now for twenty four years is i would do. It's called a generational snapshot and what that means is you create essentially a pie chart representing the different generations. Either of your customers or of your employees or team members or ideally of both. Because what you'll often find is that there's more generations and you suspect it and it will help you to shape your messaging your leadership in your marketing to better fit them and going a bit further if you don't see enough of the next generation coming in particular on the customer side that's definitely a yellow flag that you need to pay attention and make sure that your dappling for the next generation because they will be the ones that drive growth. So that's the best easiest how to that will cost you zero dollars that a promise will make you money. Which are the type of things i'm all about. And if you want a whole bunch more in terms of how to actually recruit and retain motivate and so forth across generations or market and sell. You can definitely check out the new book. It's called economy. How gen z will change the future business and what to do about it. We do talk about all four generations and just packed with how to in case studies and all kinds of cool stuff and we'll put together a special promo for fire nation. New it be on my website. Which is jason dorsey. Dot com slash. Fire you'll be able to get all of that. They're including three free video courses. Because i am a passionate entrepreneur. Have been for a long time. And anything i can do to help them. Nation will fire nation. You are the average of the five people you spend the most time with and you've been hanging out with j. d. n. j. l. d. So keep up the heat and head over to your fire dot com type jason in the search bar. The page will pop up with everything that we've been talking about today. But of course jason. Dorsey dot com slash. Fire is gonna get you to that gray page with all that awesome content. And i just wanna jason. Thank you for sharing your truth. Knowledge value with fire nation. Today

Jason Joe Burrow Clark Klay Inc Magazine Lazier Peoplesoft GNC Denise
Reid Hoffman and Fei-Fei Li on Human-Centered AI

WSJ Tech News Briefing

03:03 min | 4 months ago

Reid Hoffman and Fei-Fei Li on Human-Centered AI

"I'm Llewellyn for the Wall Street Journal and I have a guest co host today are artificial intelligence report jared council hey jared. Thanks for having me. Okay. So last week, Lincoln founder Reid Hoffman and the computer scientists faith Lee or part of a session at our Tech Live Conference, and we sat down with them for a conversation as a special episode of Tech News Briefing we'll get to their conversation but I want to tell you a little more about what you're about to hear dared verse things first who are Reid Hoffman and fairly so reid. Hoffman was one of the CO founders of Lincoln which he sold to Microsoft in two thousand sixteen. And he's now a partner at the venture capital firm gray lock. He's been involved with a number of Tech Company boards, including Microsoft, and AIRBNB. Our other guests doctor Faye Faye Lee is a professor of computer science at Stanford University. She's widely considered one of the leading experts in a I. Computer. Vision. She used to be the chief scientist of machine learning in. Google and the to work together at Stanford's Institute for Human Centered Artificial Intelligence. Dr Lee is one of the CO directors air and Mr, Hoffman is a member of its advisory council. Okay. Got It. So Hofmann and Lee were at tech live to talk about human centered ai you guys will get into what that means in the interview but I wonder if you could just give a little background information as our artificial intelligence reporter, why is it such a hot topic of conversation right now? Yeah. Hey, I is a is a hot topic because it's becoming ingrained in a just so many aspects of our lives from predicting next next word or phrase in an email to recommending products on Amazon or songs on spotify. Those kind of innocuous aspects but also more high stakes decisions like what kinds of sentences. A person may serve or what kinds of jobs opportunities they may have access to so. Has Benefit Society but there's also a lot of a lot of risk know one of the biggest ones has to do with bias. There's been studies out there that that show that facial recognition systems for instance are better at detecting white male faces than they are at detecting women and people of Color, and so you know when you have a technology that is really infiltrating our world, there's going to be a lot of attention paid to it. Especially, some of the the issues that come with it and for read and Faye. Faye, with they're trying to do is really elevate somebody ethical issues and concerns and try to get as many stakeholders as possible whether it's businesses or governments to think hard about an of course developers to think hard about what they're creating in in how they're designing.

Faye Faye Lee Reid Hoffman Institute For Human Centered A Microsoft Wall Street Journal Llewellyn Jared Professor Of Computer Science Benefit Society Stanford University Lincoln Google Stanford Advisory Council Founder Airbnb
Self-driving industry takes to the highway after robotaxi failure

Techmeme Ride Home

03:17 min | 8 months ago

Self-driving industry takes to the highway after robotaxi failure

"Today. The Financial Times has an interesting piece up. That's getting at something. That I've sort of been saying all along about Anamika vehicles? If you can already give me autonomy on the highway. Why not just give that to me now? I mean we have heard some of the reasons why companies like Waymo decided they needed to go all the way to level five autonomy, but according to the Financial Times some in the self-driving industry are now gravitating towards. Only autonomy as the whole dream of the go anywhere fleet of autonomous taxis continues to be a dream deferred. Quoting the These sector is experiencing autonomous. Disillusionment says Prescott Watson. Principal at many mobility and early stage venture capital firm now quote the pitches robot taxes are a pipe dream, but let's take this technology and do something more lucrative he adds. Investors are still interested in autonomy, but the focus has shifted towards practical services such as grocery delivery, automated warehouse, robots and autonomous functions restricted to highways, the concept of highway, only autonomy is currently capturing the attention of the industry, instead of trying to solve the myriad challenges of go anywhere rogue taxis engineers could focus on making it work on just highways to begin with autonomous vehicle. Start Up, C. Promise in America's trucking sector and eight hundred billion dollar market handicapped by driver shortages and rules that are limiting working shifts to eleven hours Mackenzie. The consultancy has projected that full autonomy will not be commercially ready trucks until two, thousand, twenty seven, but the likes of two simple plus that. Kodiak robotics and embark went to accelerate that timeline by narrowing their focus too monotonous stretches of road. One idea is to build transfer hubs near the highway in which a truck driver would carry free a few miles to the hub than swapped the freight to an autonomous truck that would drive hours on the highway to the next hub where another driver would be waiting the other big area for highway. Only autonomy is for passenger cars just a few years ago, this idea made little economic sense in two thousand fourteen. The cost of laser powered sensors known as lighter which most experts see as critical of for developing autonomous vehicles were seventy five thousand dollars apiece self-driving. self-driving prototypes were often equipped with several of them, placing them well beyond the reach of even luxury buyers, but have since collapsed with some light are group's including Valentine. Eva and aluminum are partnering with Carmakers to build units at scale for less than a thousand dollars. Each Alex Partner's consultantcy estimates that a fully autonomous hardware stack comprising lighter cameras, sensors, radar and electronics will cost as little as seven thousand dollars by two thousand, twenty five, that opens the possibility that individual car owners could soon purchase vehicles that would drive themselves. Tesla has long promised full autonomy in two thousand twenty, and among legacy carmakers Volvo has said it plans to offer is off hands off. For Highways by twenty twenty two pending approval from regulators. If we can solve the highway problem, which is quite narrow versus robot taxis, we can create tremendous user value says Henrik Green, Volvos Technology chief and.

Financial Times Prescott Watson Twenty Twenty Tesla Kodiak Robotics Volvo Volvos Technology Henrik Green Waymo Partner Principal America Mackenzie
Capital Allocation with Blair Silverberg and Chris Olivares

Software Engineering Daily

54:31 min | 8 months ago

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. But unlike databases scaling with Cockroach DB's handled within the database itself, so you don't need to manage shards from your client application. And because the data is distributed, you won't lose data if a machine or data center goes down. cockroach D is resilient and adaptable to any environment. You can hosted on Prem. You can run in a hybrid cloud, and you can even deploy across multiple clouds. Some of the world's largest banks and massive online retailers and gaming platforms and developers from companies of all sizes, trust cockroach DB with their most critical data. Sign up for a free thirty day trial and get a free t shirt at cockroach labs dot com slash save daily thanks to coach labs for being a sponsor and nice work with cockroach DB. The capital that is being steered towards a recipient. 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

Steve Case Business Rosen Fisher Jurvetson New York Chris Welcome Blair Silicon Valley CEO Restorick Louis Spacex Facebook Singapore
What is venture capital doing to change its mostly white culture?

Marketplace Tech with Molly Wood

03:26 min | 8 months ago

What is venture capital doing to change its mostly white culture?

"Venture capital doing to change. It's mostly white, mostly male culture. Nothing radical from American public media. This is marketplace tech I'm molly would. So for years, the venture capital industry has been pressured to be more diverse and inclusive invest in more women and people of Color hire more women and people of Color. In the past month we've talked with black startup founders investors about what it will take to drive real change in tech. And they said it'll take work from big silicon valley firms, and the big institutions that invest in those firms called limited partners or LP's. So we called big silicon. Valley, venture capital firm Ilya Fishman is a partner at Kleiner. Perkins I asked him what Kleiner is doing to improve representation in the valley. We do need to lower the barriers to entry and to connect. We also tried to connect new talent with tack in Silicon Valley and so we actually have a program called Kleiner Perkins fellows. We connect them with internship programs in our portfolio companies, and sometimes outside of our portfolio companies. When we started, the program was only seven percent female. It's about fifty percent female today we're about seven percent, Hispanic, and four percent black, and so obviously those are very early starting points, but hopefully we can achieve the same ramp on. Those measures of diversity as we did on gender diversity for program I. Hear you say all this, and it doesn't sound that different from what we've been hearing for. At least almost the twenty years that I've been in this industry. What would it really take to change this culture, would it? Does it take LP's like? Does it take your investor saying? We understand that you're committed to this, but you actually have to have a black partner before twenty twenty two. I mean I. Think ultimately this comes down to us all actually doing the things that we've talked about doing right for us. It's identifying amazing entrepreneurs and founders or executives can become those partners down the line. I would I would love for us to to be able to add a ethnically diverse partner I think committing to a higher by twenty twenty two. Yeah, it's it's hard for me to commit because I wanNA make sure that we actually executed on properly. I guess the question really is. There seems to be agreement that this is a systemic problem that needs systemic solutions. Do you feel like this solutions they are proposing. Are Systemic that they go deep enough. The fundamental systemic change starts with changing the types of people that are in technology and giving more access, and that's why I'm so excited about the fellows program, and that winds up being a feeder to everything else I think it's all happening i. wish it would happen faster. Couldn't you'd be that change I? Mean I hear you and I hear that you're doing these things, but you say you wish it could. Could happen faster and I feel like you're the guy man why my view is I think we are. We are making the changes, and by the way adding Carter's team is something. That's a very significant commitment. Right in general because these these relationships last decades I. Think you have my commitment that we will. We will look and we'll have to look, and we'll can commit to looking for diverse candidates as part of the process. Ilia Fishman is a partner at the venture capital firm. Kleiner Perkins according to at least one survey. Black people make up on the one percent of investment partners adventure firms. That's seven actual people.

Partner Kleiner Perkins Kleiner Ilya Fishman LP Silicon Valley Carter Twenty Twenty
What is venture capital doing to change its mostly white culture?

Marketplace Tech with Molly Wood

03:26 min | 8 months ago

What is venture capital doing to change its mostly white culture?

"Venture capital doing to change. It's mostly white, mostly male culture. Nothing radical from American public media. This is marketplace tech I'm molly would. So for years, the venture capital industry has been pressured to be more diverse and inclusive invest in more women and people of Color hire more women and people of Color. In the past month we've talked with black startup founders investors about what it will take to drive real change in tech. And they said it'll take work from big silicon valley firms, and the big institutions that invest in those firms called limited partners or LP's. So we called big silicon. Valley, venture capital firm Ilya Fishman is a partner at Kleiner. Perkins I asked him what Kleiner is doing to improve representation in the valley. We do need to lower the barriers to entry and to connect. We also tried to connect new talent with tack in Silicon Valley and so we actually have a program called Kleiner Perkins fellows. We connect them with internship programs in our portfolio companies, and sometimes outside of our portfolio companies. When we started, the program was only seven percent female. It's about fifty percent female today we're about seven percent, Hispanic, and four percent black, and so obviously those are very early starting points, but hopefully we can achieve the same ramp on. Those measures of diversity as we did on gender diversity for program I. Hear you say all this, and it doesn't sound that different from what we've been hearing for. At least almost the twenty years that I've been in this industry. What would it really take to change this culture, would it? Does it take LP's like? Does it take your investor saying? We understand that you're committed to this, but you actually have to have a black partner before twenty twenty two. I mean I. Think ultimately this comes down to us all actually doing the things that we've talked about doing right for us. It's identifying amazing entrepreneurs and founders or executives can become those partners down the line. I would I would love for us to to be able to add a ethnically diverse partner I think committing to a higher by twenty twenty two. Yeah, it's it's hard for me to commit because I wanNA make sure that we actually executed on properly. I guess the question really is. There seems to be agreement that this is a systemic problem that needs systemic solutions. Do you feel like this solutions they are proposing. Are Systemic that they go deep enough. The fundamental systemic change starts with changing the types of people that are in technology and giving more access, and that's why I'm so excited about the fellows program, and that winds up being a feeder to everything else I think it's all happening i. wish it would happen faster. Couldn't you'd be that change I? Mean I hear you and I hear that you're doing these things, but you say you wish it could. Could happen faster and I feel like you're the guy man why my view is I think we are. We are making the changes, and by the way adding Carter's team is something. That's a very significant commitment. Right in general because these these relationships last decades I. Think you have my commitment that we will. We will look and we'll have to look, and we'll can commit to looking for diverse candidates as part of the process. Ilia Fishman is a partner at the venture capital firm. Kleiner Perkins according to at least one survey. Black people make up on the one percent of investment partners adventure firms. That's seven actual people.

Partner Kleiner Perkins Kleiner Ilya Fishman LP Silicon Valley Carter Twenty Twenty
Starbucks strikes partnership with venture capital firm Sequoia to make tech investments in China

Morning News with Manda Factor and Gregg Hersholt

00:13 sec | 11 months ago

Starbucks strikes partnership with venture capital firm Sequoia to make tech investments in China

"Starbucks has struck a partnership with venture capital firm sequoia capital China to co invest in technology businesses in China the latest push from Starbucks aims to boost the digital aspect of its business in one of its most important

Starbucks Sequoia Capital China
Erics Favorite New Growth Strategy of 2020 (So Far)

Marketing School

03:02 min | 11 months ago

Erics Favorite New Growth Strategy of 2020 (So Far)

"Welcome to another episode of Marketing School. I'm Eric Su and I'm Neil Patel and today we're GonNa talk about Eric's favourite new growth strategy of twenty twenty so far so what we're in April of twenty twenty? We haven't really been through a lot in terms of business so far in the year but Y- let's talk about it. So what do you enjoying so far? What's your favorite strategy this year? I think you know the favorite strategy for me is continually testing with podcast. Right giving example. I'll use the other podcast leveling up as an example. So you know. We've talked about the power of subscription. You know. We talked about how we monetize this podcast. We have ads. We have our event. And then there's other elements that we're testing in the future as well such as potential educational component to it but also a subscription component that. I'm testing myself to see if the number actually workout so I am seeing promising results so far we have about six customers. Which is it doesn't seem like much. Break down the numbers for you. So on the leveling up podcast. Let's say I have eighty thousand eighty to ninety thousand dollars a month and we'll say about ten percent of those downloads are my true audience right. We're trying to be conservative here. So ten percent of eighty thousand eight hundred correct so on eight hundred what I'm trying to convert people into a subscription is. I'm trying to prove that one to two percent of my audience will convert into becoming a paying subscriber if those numbers proved to be right because those are the numbers that were shared to me from a company called Super cast they say most of their podcasters subscriptions about one to seven percent of their audience. They're true audience will convert into paying subscriber. So I'm just trying to map out from a business perspective if this actually works right so far what I'm saying is we're approaching about one percent of the eight hundred and I think we're going to get beyond that because I have about seventeen days to go and this month so I think the macro strategy here is this. You think about craters. A lot of people are talking about the creator economy. A lot of these venture capital firms are trying to invest into influencers. You look at the Kylie Jenner's of the world. They have a very big platform. People can argue that sure. She's famous for being famous. Her mom propped her up. Whatever what you can't argue with his she worked her butt off to get to where she is which is billionaire status but she's leverage influencers status to get out there and so a lot of these see firms are looking at you. Know She's a good example like you know. I really want to invest in influencers. Figure OUT HOW TO BETTER HELP THEM. Add value to their audience and also better monetize at the same time so description economy if that works out on the the leveling upside then we might consider rolling out a subscription potentially for marketing school as well wishes basically. We might be like fifteen dollars a month and we might say. Hey we'll give you an ad free podcast. We will also give you some courses and we'll give you a monthly. Asked me anything where you can ask? Neil night anything for an hour or so and you know for fifteen bucks a month. If that's valuable to you what you do it question for you guys is if you find that valuable tweet at me at Erico sue because we're still testing this right now but so far. The results are promising. I'm seeing everyone else do it? I want to make sure double check if it works on my end before we even think about it here

Kylie Jenner Neil Patel Eric Su Marketing School Twenty Twenty Erico
Love Yourself Like Your Life Depends On It with Kamal Ravikant

Broken Brain with Dhru Purohit

09:36 min | 1 year ago

Love Yourself Like Your Life Depends On It with Kamal Ravikant

"If anyone wants to get healthy they can. And it's pretty easy consistency. We do that. But how often do we take our mind consistently every day? I'M GONNA take care my mind and I mind is what runs the whole damn show. I've worn droop. Wrote here hosted the Berkman podcast and today's episode. We're talking with author. Kamal Robbie conduct all on the topic of how to love yourself like your life depends on it because it does fascinating interview. Stay to welcome to the broken brain. Podcast where we dive deep and then the topics of neural plasticity epigenetics mindfulness functional medicine and mindset all with the goal of helping. You understand how your brain is not broken. I'm drew PRUITT and each week. My team and I bring on a new guest who we think can help you improve your brain health feel better and most importantly live more. This week's guest is Kamal. Ravi Gump Kamal is the author of love. Yourself like your life depends on it. He's meditated with monks in Himalayas. We got to hear about that served as a army. Infantry soldier and Co founded several companies and venture capital firm in Silicon Valley. Come all. I've been looking forward to this interview. Thanks for coming on the PODCAST. Thanks for having me man. I kick off with a quote that I came across years ago and I just thought perfect when I was giving your book by Gideon Gideon while Harper Winer. Yeah When he had mentioned you and then another mutual friend mentioned it and I started flipping through the book. I thought of this quote by CS Lewis. Success hardships prepare ordinary people for an extraordinary life interesting. That's going and while he was a wise man he was a wise man so I want to kick it off by starting from the beginning. You Open Up Your Book and you talk about in two thousand eleven. The company that you spent three years of your life building and all of your money went under set the stage for us at the beginning. Okay so the the genus. This book is actually. This is not a book. Set out to write. You know that people like I'm going to write this book. This was never a book to write. It came out of an experience. That was very transformative for me where I've been in Silicon Valley building startups building companies at Dunwell and the last company. I was building At self-funded if over three and a half years and then took on funding. Because I'd run out of money you know. Billing tech companies not cheap right for for years and And the whole thing blew up and I lost everything you know which in hindsight you you remember. I remember now. Look Ninety something percent star tech startups fail but when is yours and all your money you ego your personality is self worth all of us wrapped up in it. I I it. Blew up on with it and and I was in a really dark place and you know the other things happening in life to at the time it was almost like we had like Salami. I'll just happened at the same time and I was in a very dark place in one night. I just was like okay. I can't do this anymore. I gotta get out of this place or die trying. I cannot be here and and it was like this this intense moment of like saying. I can't do this anymore. Can't be here anymore in this place. This does this darkness depression. Whatever you WANNA call it and I walked over to my journal and my on my desk and I wrote down something to myself I and I you know you should write notes to myself but this this time. Something from somewhere deep I wrote a vow to myself and it was a vow Listen the book You know I'm GonNa Paraphrase but it was avowed alum myself and I don't know where that came from. I wasn't sitting on thinking you know what I need. Another makeup news failed. I need to love myself that I wasn't thinking that at all. I don't know whether we came from like somewhere. Deep Right. It was like one of those pure moments of life. We just come through something deep. I did recognize that. And it was a vow as a full on commitment to myself. And so I'm a big believer keeping your commitments that you made from the heart and this was a pure from the heart to myself and so I had to keep it except I didn't know how and said okay. I'm GonNa work on this. I started because I nothing else to do. My Company of failed. I lost everything of living credit cards and I was trying to figure out what to do next and so I just started like trying things in my head because that's the only thing I control the only control I really had was if I was if I was not happy verbs in my mind the only control ahead was will work on my mind as I started. Just do things to my mind and started trying things and I found. Things are starting to make me shift to make me feel better. And if they worked I went deeper if it stopped working through. I didn't care all I wanted was one result was to get out of this place and so avoid by following that almost like a decision tree of things that are working out working and going deeper deeper. I came up with like a simple practice doing every day and I was just getting better and better. Better my take a better in my life started getting better and this didn't take long. It took weeks if most right and it was it was. I'd never ever knew that was possible to go from that kind of darkness to like almost like light. And so you know it's like when you discover something in life that's really transformative. The next thing. Is you become like newly converted your friends. Who are going through stuff. I would tell them like Lara Dude. Like don't worry. I figured out here I would write little things because while I'll be building companies in Silicon Valley. I'd also been training myself to write literary fiction. I wanted to be write novels right. So I've done the ten thousand hours. I knew how to write someone. Just right up little things and sent to them like little almost a couple of word a couple of pages worth like. Here's what I did. Here's what I went through here. Do this right. I would do this for friends and because it gets tiring having to explain again again because people ask questions adding them again. It gets here. Let me just write it that I could share the same people. I mean different people and it started it worked for them because it's like a simple simple stuff. There's nothing complicated. Have to stand on your head and scratch your. You know like do anything to say. Just little stuff you're doing inside your head beer. And they had all the time any day she'll things that when and we'll get to all that and we'll break it all down but foundational things. That seem so simple that we often overlook. Well look ultimately. If you look at anything in life you look at Art. You look at writing. You look at Physics math anything. Simplicity's where it's all the if the closer to break it down to the basics the very very fundamental basics and simplicity is transformation happens you know especially for us as human beings. We don't need to know complicated stuff. We will not practice it. We need simple stuff that we can do consistently and I was talking with every time. I ritual you know talking yesterday and like was the Diet Best Diet I think the best I can keep consistently was the best fitness program. The one that you can keep consistently you know not the one that you do once a month you know and same thing with the mind. What is the best way for mindset the simplest most effective that you can do consistently and I was in a place where all I wanted was results? I didn't care about theory. I didn't care about Does it make me feel half better. I just wanted to get out over was right so I wanNA come back to your story because a company failing isn't event right and even the word failure is our story on it like you wanted anyway. I was totally in that story right. You're in that story. So you talked about this valley that you made to love yourself but let's go back and set the stage a little better. Because I think that a lot of listeners our podcast might be able to identify it. Identify with it. So what were you doing? You had a situation. You had an intended outcome. It didn't work out. It wasn't what you wanted. But what was the story that you created around it? And where were you at that time that you were doing the opposite of loving yourself while? I was a typical Entrepreneur story in the sense. Like look I didn't take even a Sunday off over three and a half years I think no near the end. My team convinced mutate. Start taking Sunday's off right. I was so obsessed. I was going to pull this off. My entire sense of self was wrapped up. All my money was wrapped up in it and it was coming close to be successful. So my ego was wrapped up in it I WANNA blew up. You know I I took it personally. You know which which is normal. But it's also kind of silly because I gave it my all. You know it's not like a didn't work my butt off you know But it was like the whole story of failure and also I was just. I was worn out. I was sick There are other things happening my life that would result just like a cascade effect of just being bottom and one of the things. I tell people as like look. Don't cut got caught up in my story in a it's a human thing hitting bottom is hitting bottom. People know what that is. You can be living in a in a in a Bedouin. Tent in the middle of the desert understand. What like feeling bad is like we're paying bottom doesn't mean that you have to have built a company to hit bottom should universal humane human. The human you know fear love pain joy these things these are all fundamental human constructs right so and that are all relative to your circumstances just like you said you don't have to be a founder now could be trying to do something for your kid's school well. You could have anything life. A BREAK-UP HAPPEN YAM breakup. Great for gave making your head bottom tastic. I'm poster child for those you know like I it's it's a very human thing but also rising is also very human

Silicon Valley Kamal Robbie Ravi Gump Kamal Pruitt Berkman Gideon Gideon Cs Lewis Dunwell Founder Lara Dude Harper Winer
DOJ open to reviewing credibility of any Ukraine-related material: Barr

Newsradio 950 WWJ 24 Hour News

13:23 min | 1 year ago

DOJ open to reviewing credibility of any Ukraine-related material: Barr

"Even after the acquittal of the president his lawyer Rudy Giuliani is pursuing allegations of corruption in Ukraine this past week Attorney General William Barr said the justice department would carefully scrutinize what Giuliani finds last July president trump made the phone call to Ukraine that led to impeachment he asked the president of Ukraine to investigate a mysterious Democratic National Committee computer server that Mr trump said was hidden in Ukraine we have found that odd request is a story that has grown over the years and was influenced by Moscow you may have wondered how the president was impeached over Ukraine of all places the answer is in the story of the mystery server a reminder that the US and Russia have been on opposite sides of a war in Ukraine since Russia's invasion in twenty fourteen Ukraine security is important to our security and the reason I believe that is that Ukraine is on the front line few people understand what's at stake as well as ambassador bill Taylor he led the U. S. embassy in Ukraine as the trump administration withheld military aid while pressing for investigations of Democrats it was a logical that could not be explained it was crazy trailers testimony carried the weight of his resume west point one hundred and first airborne in Vietnam thirty three years as a diplomat and an expert on Ukraine the Russians are fighting a hybrid war against Ukraine but not just by the crime they're fighting hybrid war against Europe and against the United States the war that the Russians are fighting in Ukraine we have a stake in we have a stake in but it's not just the military war was the cause hybrid wars more than tanks and soldiers hybrid war is information war it's cyber war made its economic war it's a tax on elections and as we know they've attacked our elections the Russian attack on the twenty sixteen election included hacking the computers of the Democratic National Committee US intelligence agencies found the Russian government inspired to help president elect trump selection chances when possible by discrediting secretary Clinton former deputy national intelligence officer and see I a Russia analyst Andrea Kendall Taylor worked on that report the report itself is based on a large body of evidence that demonstrated not only what Russia was doing but also it's intact and it's based on a number of different sources collected human intelligence technical intelligence you seem to be saying that the evidence is convincing that this isn't a close call that's absolutely right if you read the intelligence report it's the consensus view of three intelligence agencies at CIA and NSA and the FBI I'd like to highlight from the same conclusion was reached by the Republican led Senate select committee on intelligence the committee's report on Russian interference was unanimously approved by all of its democratic and Republican members rushes uses social media to him a credit mark Warner is vice chairman the Russian project was a top down government run covert operations that hacked into the DNC an individual's personal emails and weaponize that information to release it at the most important times but the idea that the trump campaign was helped by Russia even unwittingly was a unanimous judgment Mr trump would not accept and by the way folks just in case you were curious no Russia did not help me okay Russia the Russian hopes Mr troop begin a campaign to discredit the intelligence community's conclusions he tweeted so how and why are they so sure about hacking if they never even requested an examination of the computer servers in Mr trump's telling the FBI failed to look for evidence on the Democrats computer network the story of the mystery server was born you dealt directly with the FBI I did yeah sure would Robert Johnston was an investigator of the DNC hack for crown strike a leading cyber security company hired by the Democrats the same he told us the FBI didn't physically examined the DNC servers because crown strike gave the bureau copies of the data from the servers if there is also a server for a computer system of any kind that's involved in the incident you can take an exact bit for bit digital copy of what's on that system now that digital copy is just as good as having the real thing as far as you know the F. B. I. god what it needed and what it wanted exactly and and evidence of that is you don't hear the FBI complaining he's right a former senior government official familiar with the investigation told us that the FBI would have preferred to work along side crowd strikes investigators but the Democratic National Committee decided to give the bureau digital copies of its servers instead the official told us this was acceptable in fact even typical in FBI investigations the F. B. I. use the data to help indict twelve Russian intelligence agents for hacking the DNC but Mr trump's tweets persisted why did the DNC refused to turn over its server to the FBI and where are hidden and smashed DNC servers there were more than one hundred forty servers and the Democrats network but Mr trump created an image of a single box of incriminating information where is the server I want to know where is the server and what is the server saying with that being said all I can do is ask the question my people came to me Dan coats came to me and some others they said they think it's Russia I have president Putin he just said it's not Russia I will say this I don't see any reason why it would be but I really do want to see the server that statement leading Russia off the hook course president trump to issue a retraction the next day we'll probably through all of this Vladimir Putin wasn't just standing idly by he was working to shift blame away from Russia what we can say is that Russia did what Russia dies and that is piling on they amplify those narratives in ways that than advance Russia's own interests they look for conspiracy theories that are already out there they're picking up on elements or narratives that already exist in a society and amplifying those narratives that advance Russian interests the interested Putin was to drive a wedge between his enemy Ukrainian and Ukraine's most important ally the United States I successful prosperous western oriented Ukraine provides a direct threat to Putin's hold on power he can't how the successful Ukraine on his southern border because then it demonstrates to Russians what is possible we need to weeks after Mr trump's inauguration Hooton said in this news conference you it was not Russia that help Donald Trump but Ukraine that helped Hillary Clinton Russian media and U. S. conspiracy websites began to spend suspicion of Ukraine ultimately those rumors appealed to Mr trump's private lawyer Rudy Giuliani who was working to discredit the investigations of Russian meddling in twenty sixteen and there were concerns that there was another game being played another channel that Mr Giuliani was involved as head of the U. S. embassy in Ukraine bill Taylor was frustrated that Giuliani was agitating for investigations that were never official US policy did anyone at the state department ever direct you to investigate whether there was a server in Ukraine so why not no internet search for no one perhaps except the president in twenty seventeen for the first time he added Ukraine to the story of the server in an interview he said why wouldn't Hillary Clinton allow the FBI to see the server they brought in another company that I hear is Ukrainian based crown strike the reporter asked that's what I heard I heard it's owned by a very rich Ukrainian the securities and exchange commission shows that crowd strike is incorporated in Delaware and based in California it's larger shareholders are American venture capital firms over the years crowd strike has been hired by both the democratic and Republican parties so the server they say is held by a company whose primary ownership individual is from you perfect I'd like to see the server are there any links to your knowledge between crowd strike and anyone in Ukraine not to my knowledge was this something that the embassy was concerned about no during the investigation you were leading the crowd strike ever send any of the DNC's computer hardware to Ukraine now that that is that is insane and that is not within the realm of reality last July reality suffered a final blow the story Mr trump first adopted as a server the FBI was blocked from seeing and then became the server investigated by a Ukrainian company finally morphed into the server hidden in Ukraine in the call after the Ukrainian president ask for anti tank missiles to defend himself from Russia Mr trump replied I would like you to do us a favor though they say crowd strike I guess you have one of your wealthy people the server they say you crane hazard this was the first favor Mr trump asked for even before his request that Ukraine also investigate the son of vice president Biden this past November Mr trump spoke by phone to fox and friends the server to cloud strife or whatever it's called which is a country which is a company owned by a very wealthy Ukrainian and I still want to see that server you know the F. B. I.'s never gotten that server that's a big part of this whole thing why did they give it to Ukrainian company they did that are you sure the David to Ukraine well that's what the word is the word that Ukraine was involved was amplified by the president's defenders in the impeachment inquired think pointed to a twenty sixteen opinion article and social media posts written by Ukrainians that were critical of Mr trump as though they were equivalent to Russia's covert campaign targeting U. S. computer networks voting systems and social media Fiona hill Mr trump's former senior director for Russia on the National Security Council warned the committee some of you on this committee appear to believe that Russia and its security services did not conduct a campaign against our country and that pops somehow for some reason Ukraine days this is a fictional narrative that is being perpetrated in propagated by the Russian security services themselves what are the chances that this whispering campaign about a Democratic National Committee server in Ukraine is actually a Russian intelligence operation the Russian disinformation operation the Russians are very good and fast it's these fake stories that they have propagated and that's what they do they do it pretty well we have to be on guard against the that is the diversity from Vladimir Putin's perspective it worked last November as impeachment played out in America's next election season was under way he said at this forum thank god no one is accusing us of interfering in the U. S. selections anymore now they're accusing you cranes assembly not we reached out to the White House multiple times on this story but they did not

President Trump Rudy Giuliani Ukraine Attorney General William Barr Donald Trump
Brett Bivens discusses Spotify, Audio, and Business Model Leverage –

Future Ear Radio

05:18 min | 1 year ago

Brett Bivens discusses Spotify, Audio, and Business Model Leverage –

"Joined here today by Brett Bins Brett. Tell us a little bit about who you are and what you do great. Thanks for having me David so I am On the investment team that is Chicago based firm called Texas were an early stage. Investment firm with a Malo very focused on working at the intersection of early stage emerging ventures early stage technology companies and the corporate universe. So we partner with large corporates builds vertical focus funds owns those corporates and then go out and invest in early stage companies. That we think are going to have an outsized effect on the markets that are corporate partners operate in and I think sort of as it relates to our conversation in the audience podcast Were extremely active investors in the in the world of audio so we've been investing in the world of audio for Three or four years. Now we've been working in the audience. Space With company that I think a lot of people recognize called Scheuer. Barry for microphones and headphones and things like that And that's been a really really interesting journey to kind of better understand how audio and voice and all of these new devices devices that are proliferating in terms of daily usage. Really impacting the way that we lived. So yeah so that's a little bit about US Like I said we were based in Chicago. L. On personally based in Paris I moved over here about a year and a half ago to expand our firm expand our operations in a little bit of our invested purview over here so kind of a cool cool opportunity for me who experiences a get a sense for all the innovation all the venture activity. Everything that's happening across the pond as well we we very nice So yeah I mean you know the reason I I wanted to bring bread on today. I came across him on twitter. Twitter you continues to be the king of Just finding awesome individuals and in really smart people and I'd seen him pop up from a lot of the people that I had followed. Were retweeting stuff and I came across this piece that he wrote. That was all around negative. Churn and what he is defined as business model leverage bridge and. I'm GonNa let him explain that a little bit but I think ultimately I want I wanted him to come on because I think that he has a really interesting perspective. Give on some of the topics that I've been talking a lot about through the blog in through the podcast which is the whole Daniel notion that You know when he posed the question. Shen after the anchor in the Gimblett media acquisition Saying are is really worth ten times more than our ears so I think Brett Kinda head come across cross this in in in in his approaching it from a different standpoint you know with his venture capital firm So why don't you tell us a little bit about that piece that you wrote in the whole premise. Behind behind it. Yeah so I guess. Firstly you kind of mentioned the The Daniel Eck notion of audio being more valuable. It's kind of given credit for and I think that's that's been something that we've seen not only in the relationship that we have in the audio stance with sure that I mentioned earlier but part of our her model in part of our purview on the ecosystem. That's been really really enlightening terms of how we think about the importance of audio generally is all these other markets that we operate rated that we have funds in in areas like fitness and wellness Marine and outdoor recreation industrial spaces public safety. What's been super fascinating about about that in kind of gets to the point of audio underestimated overall is? Just how Orton audio invoices becoming across industries across use cases. You know it's not just about music it's not just about podcast. It's not just about audio books. Things like that. I mean it really has a has a massive impact across you know all of our experiences. So that's super interesting in that. All of that kind of put together you kind of said led me to really dig in a lot more on spotify over really about the last year and a half or so and kind of got me like you said to this this idea of business model leverage which I think spotify is a pretty unique company the in a sense that most companies have grow get to scale and have other expansion opportunities They can they can go in a number of different directions for the most part. The expansion opportunities that those companies have are lower margin. Less attractive overall are going to detract from sort of the multiple that that company trades that. Because they've sort of come out of the gate with their best idea. Were spotify's kind of opposite a lot of it so they came out of the gate with this this music streaming business. which is you know a really really interesting way for them to do kind of owned the demand and and get a deep relationship with the customer? But maybe it's not the most attractive business from an economic perspective yongli euros profit margins exactly people people kind of Understand this pretty well now especially with the big push that they've made into podcasting over the last year but they sorted exist in this marginal cost world where with each incremental stream. They're paying more You know paying again for that. And so they're they're kind of limited in terms of

Spotify Brett Bins Chicago Twitter Partner David Texas Scheuer Barry The Daniel Eck Daniel Paris Orton Shen Gimblett
Jason Brown on Automating Your Financial Life

Wall Street Oasis

10:51 min | 1 year ago

Jason Brown on Automating Your Financial Life

"Hello and welcome. I'm nick and this is moving up a podcast about secrets to success. Struggles along the way in life in general then the pod Jason Brown down the CO founder and CEO Tally. If you don't know a tally is that oh man. You're really going to enjoy hearing this conversation but quickly. The gist is that it's an automated finance platform. That can do some pretty incredible things and really just hearing Jason Talk about what the future of consumer finances is so intriguing rigging okay. That's all for me. Let's get into the conversation with Jason Jason Slocum. Welcome to the PODCAST. Thanks for having me. We're we're in this weird room at money twenty twenty. I'm glad you found it. Three or six is nice and quiet so all we got that and I just mistakenly said you were an la guy. But your San Francisco are you. Are you from San Francisco. Is that what you grew up. I grew up in a little ski town in Colorado called Breckenridge who grew up in Brook Park City. Oh No kidding I actually prefer park city to Breckenridge so Nothing to complain about Breckenridge but it's a lot a lot faster to get to park city. So that's what proxy has going all the places in Colorado and Sun Valley in Miami and stuff are prettier than park city because they're more remote but easy to get to it is records is a cuter town though. Oh Yeah I mean. That's everything about the Callao towns prettier better everything. Actually all has is the easy to get to. Oh well has more than that but for the I was a good to talk to another mountain. Did we actually have a long comment. I've actually had several not several zero but like three or four other people on the podcast that we uncovered the same thing. Then like you're kind of bonded actually one of the five founders. FACEBOOK Grew up in Sun Valley located. No kidding wow were you on the scheme in high school and I mean pre high school I would ask and then I'm sure with you. It's going to be really serious about school or are you. It sounds like you guys have a winner school. We can go to school all summer. Long have the winter or summer. We did not but I think in steamboat. They did. That's where a lot of Olympians came from but one of the one of the guys on my ski team I went to the Olympic. So it was it was it was still pretty Hardcore data is awesome dickey missing. Yeah I did but it was cross country so proper entry. Yeah freestyle cross-country. It's the it's the kind of skiing you see in the Olympics where they're like skating That was okay see. I don't I don't know anyone that in proxy that that does that kind of scheme. Yeah it was. It was the kids because you have to wear SPANDEX. I love it and of course sucks. Thank you these tally. Sorry for those of you. That are listening if you If you download the tally APP which is fully automated manager. The core experience is the home screaming. And it's actually really a picture of a person sitting drinking coffee with their feet on the table and I wearing socks going no sock. Yeah wearing these socks and so we We've built An automated platform that can do financial thinking financial work for you and we have to financial jobs. We do Which is have my credit card debt and then set money aside for me so are are kind of ethos? Is We set very high bar for what automation means. It's not recommendations it's not advice. It's actually doing the thinking and the work so so that you can have your feet on the table. So everybody at tally. When you join you get you? Get a pair of tally sucks. I love it and we got into a little bit of of of tally there. But like let's let's start earlier in the background. Like where do you up in cool. Ski Town Kid You WanNa like go to a big city for college like I want to do. What's going through your mind? Will it was for me. Actually I had always wanted to be an entrepreneur actually I've a little flyer that my mom saved. She showed me a couple years ago but I went door to door offering would stacking and poop scooping services when I was nine and actually when I was a freshman in college I started my first company which I ended up growing to four hundred employees dot. I built a one of the largest residential house painting companies in Massachusetts so I actually moved moved to To Boston to start this company. Anthony as a teenager and that company got acquired and I built a a couple of other companies thereafter. So I've just always been in love with the idea of You know taking an idea that you're passionate about from scratch and turning it into something and At least for me tally is the thing that's been closest to my heart. Because growing up there was just a lot of There's a lot of anxiety in our household around money and my mom in particular. Is this really dynamic eccentric. SMART person she works. It's really hard. Runs her own business and despite all of that She just there's just a lot of A lot of financial financial stress and she really hasn't been able to reach Chennai ever financial goals. So I was just like man. I want to build a service. That's capable of taking the load off of people and allow them to live their lives lives and so my mom. She's an exercise and she's a Ravi again. It's like you do all that okay and we're GONNA pay all your bills and manage everything for you just like if you had like a team of five. I people working for you and I want to build that into software so that we cannot take take all that All that off of off of the human experience plate and allow people to just do what they love right so this is an interesting kind of play. I always get to it so you grew up in an entrepreneurial family like this was instilled in you from from day one it was never. I'M GONNA go work for some big bank or something you know any my parents were Were Very Encouraging that we we should charter on path. And Actually I was home schooled for the first All the way through sixth grade and end you know I mean even my mom. She's like. Hey what do you Wanna learn and I was like well. I WANNA learn about taxidermy. She's like okay so she went through the yellow pages and cold. Called taxidermists is and found one that would let us camp out in their workshop for a a week or so and like we'd go there and you learn about the taxidermy business in all the chemicals they use and everything things so it was just this idea of. Hey the world is your oyster. You just have to be willing to go you know make phone call or knock on the door and go explore and you can learn anything. You want You just have to be willing to go after it so Feel really really fortunate. It's really empowering way to to educate here's some crappy don't Wanna learn learn it memorize. Yeah like learns actually care about exactly and it's just that that intrinsic motivation. My parents were always. It was all about curiosity and chasing your curiosity so for me. I was never at a point where I dreaded school like I always like. I couldn't wait to go to school like me when I hear my friends talking about. Like the next game of thrones. I haven't watched that here. It's over but when they were talking about the next episode that excitement and anticipation. That's kind of what I felt going to school because I was like. What am I gonNA learn? And what new ideas am I gonNA the House. Oh yeah that was definitely thanks to my parents okay. So then. What's the start of this of this house painting company? Yeah it was just I mean when you're eighteen years old old end Wanting to start a business I was like. Hey I want to do something. That will require a lot of employees because I really wanted to learn about leadership and I wanted to learn about on just like the actual people side of running a business and so that seemed like an accessible thing for me and the first year I had about Fifty employees and then ended up going from there to About four hundred when I sold the company and honestly I mean I I did eventually get an NBA from University of Chicago. But I learned more in those couple years running house painting business than I. I haven't any other point in my life and just just a complete crash course in you. Know recruiting in hiring firing managing on challenging situations on creating a management structure. All all of that was It was just this really really stressful. Suppose the most stressful point in my life but it was the place where I got A. I don't know if you've heard of the ten thousand arose but I I got a good chunk of my ten thousand hours of of building. It managing a company in the in College Shar so you started it in Colorado or Massachusetts in Massachusetts so I ended up going to school Boston University and I went the two classes at Bu but other than that. I was working the entire time. So I don't know a single person from view at least that did you graduate. I did I'm a buckner so I I graduated highest honors but literally. I'd be sitting in the back. I'd have my laptop open. I'm like sending emails like dealing with issues. And then I'd have my notebook on the other side taking notes so it was a very multitasking signs. Do you regret that. I do not I did go to business school for the reason that I wanted in intellectual vacation and when I was in business school I really enjoyed myself. I worked at a venture capital firm. I wanted to. I thought for a little bit I wanted to be a VC. But I realized that. I'm an operator Raider. But I took like a machine learning courses like I just went like super deep in finance and I just had a blast in college or I'm sorry and business school so I made up a little little bit for the sacrifice. Is The path Painting Company Sell Painting Company business. School no I started a new company after the painting company when I graduated. And we It's called Bass Dot Com and We ended up Boo Shopping the company. All the way till seven years in The only money we took was twenty twenty million for maybe S. capital partners after it was already very successful and You know kind of more to the private equity stage but we actually actually wrote our own screen sharing software so this was way way back in the day and what our vision was is that you know. This was in the birth of spyware and like people's computers were constantly having issues so he said we want to have a PC care subscription service so that any normal consumer Ken Press a button and have remote tech support instantly without having to talk anybody and then every quarter. Our our technicians would remote into the computer and maintain it to prevent issues like changing oil in the car. And so that was our our brain child right out of college in down built that up and then I was like. Hey you know what I. It's been a lot of hard work. I WANNA go take this vacation Chicago and it was. It was wonderful two years. That's actually where I met my co-founder from next to company so awesome and so you said you intern. During between years one and two the I did YEP in Chicago. Ah note was in Silicon Valley so there's a A Pacific Northwest Venture capital firm. They do a series they investing called Voyager capital and. I actually really was just supposed to intern. But they kept. Were having me look at deals and do work when I went back to Chicago. Yeah so it really taught me a lot. I learned a lot about fundraising and how bad most pitchers are. I learned how painful it is to be on that side of the table when pitches a really bad And I also learned that. It's I mean no offense to anybody who is a V. V. C. but it's a very passive sort of world you're like you're trying to identify and pick value creators but you're not like creating value yourself in for for at least my disposition. I just love

Massachusetts Chicago San Francisco Colorado Jason Jason Slocum Olympics Jason Brown Sun Valley Jason Talk Intern Nick Facebook Breckenridge Chennai Sell Painting Company Callao Voyager Capital Steamboat Dickey
Silicon Valley Adjusts to New Reality as $100 Billion Evaporates

WSJ What's News

03:34 min | 1 year ago

Silicon Valley Adjusts to New Reality as $100 Billion Evaporates

"Our main story. This morning it has to do with Silicon Valley's UNICORNS. These are the companies that are not yet public but are privately valued. So you'd a billion dollars or more it's been a rough year for those big startups after the disappointing performance of Uber and Lift Stock Post Their IPO's and of course we work a botched attempt to make it to public markets. Heather Somerville has been telling Jr Wayland that. It's caused some soul-searching in Silicon Valley. So heather what kinds of numbers are we talking about. In terms of the money that's been wiped off of balance-sheets we're talking about between four companies. We Work Jewel Uber and left. Now these these were the most highly valued companies When they were private having lost roughly one hundred billion dollars since the first quarter this year other companies have lost valuation as well but just looking at these high flyers how far down they have come? It's quite significant significant in terms of value destruction and heather. How did the collapse of we work affect the startup market? Well we work is but one company and certainly an extreme extreme example at that that company really was a flash point for silicon valley the fact that it went from forty seven billion dollar company to being valued right at about eight billion dollars was a rude awakening for just about everybody. It really caused people to take pause particularly investors who suddenly became very worried. That do they have a we. Work like company in their portfolio and the limited partners invest in venture capital firms suddenly started asking that question in as well that was a huge turning point for Silicon Valley does a shadow that's been cast over the venture capital world and it has at least in the short term change. Some of the rules calls. There's certainly been some soul searching going on in the venture capital community this includes startup founders. Really being pressure we're to find profitability in their businesses when previously they've gotten away with just hyper growth and cash burn. We're seeing this in companies like lime time the scooter renting company which has been pressured to turn a profit in the cities in which it operates. We're seeing this. Also in other companies is that are suddenly declaring. They're going to be profitable and adjusted basis either next year or the following year when previously startup. CEO's didn't talk about profitability. They just talked about growth. Both these are changes. We've really seen in recent weeks in recent months but the startup industry still awash in cash coupled with low interest rates. Now what does that mean for the market going going forward. I I will say that while. There's an air of caution an I say a bit of more humility among start ups and investors that is very tangible around Silicon Valley. There is a significant caveat. And that is that there are several venture capital firms such as founders fund which is raising a three billion dollar fund norwest ventures just close a two billion dollar fund that have udalls noodles of cash that they still have a mandate to invest. In addition there's monetary policy across the globe Keeping interest rates historically low as zero or negative. Those is factors mean that the spigot isn't going to turn off for these tech startups. There will still be ample money available. It just might be deployed a little bit more slowly Louis and the conditions around which that money is deployed. might get

Silicon Valley Heather Somerville Norwest Ventures CEO Louis Jr Wayland One Hundred Billion Dollars Forty Seven Billion Dollar Eight Billion Dollars Three Billion Dollar Two Billion Dollar Billion Dollars
VCs are leaving trillions on the table by bypassing diverse leaders, study says

Marketplace Tech with Molly Wood

06:44 min | 1 year ago

VCs are leaving trillions on the table by bypassing diverse leaders, study says

"This marketplace podcast is supported by pager duty in an always on world teams trust pager duty to help them deliver a perfect digital experience to their customers every time with pager duty t there's no question that limited partners have power in this equation to also move the needle with the distribution of capital two women and multiple public media this is marketplace tech demystifying the digital economy I'm Ali would Carla Harris is vice chairman of Global Wealth Management and head of multicultural client strategy at Morgan Stanley the M dot com if you could make trillions of dollars investing in more diverse founders why wouldn't you from American value of companies that have more women internally or the performance of women lead founders or the success is multicultural missing out on as much as four trillion dollars in value by not investing in more diverse founders trillion Carla Harris is vice chairman of especially when you're driven by returns I want to move up the money chain when you put out a report like this from Morgan Stanley are you speaking not just a venture capitalist must eighty percent of those men are white probably because ninety percent of venture capitalists are men mostly white but new data shows that BBC's are leaving a lot of money on the table by only investing in people who look like them Morgan Stanley put out new information just this week that says venture capital as an industry could be that's where the ultimately the change has to come from like if LP's Al- suddenly introduced you know diversity riders if every pension fund that was going to put some money into venture capital said entrepeneurship no question and you absolutely started to see some of that in the private equity industry where LP's calpers and Kosters certainly did we to invest more broadly but that doesn't make sense right well let's talk for a moment about how venture capital firms make money and why I suspect it is their investor that should be enough evidence right we should suddenly I'm sure that in the next year we will see a flood of new investment when multicultural founders right well things have been bumping along you know in fine form and there was nothing to counter that argument there was not necessarily a motivation on instigation to change it hey my pensioners want you to do the best you possibly can in that means investing broadly is that what it's GonNa take well I'll tell you I do think that that would be powerful double wealth management at Morgan Stanley and she says the numbers are getting hard to ignore I think in the last few years there's been a lot of data that has been released that talks about the entrepreneurs so now I think there's far more data out there that is supportive of the argument that in fact there is something to miss but I think stop me if you've heard this before ninety one percent of venture capital investment goes to men but also to their investors limited partners who arguably are the ones who are holding the purse strings we hope Somali part of what we're trying to do is to say not only are UVS's missing it but perhaps if you're missing it you may be leaving some money on the table for your limited partners and I wonder do you think and now some related links we've got a link to the latest Morgan Stanley data and the survey of two hundred venture capitalists released earlier this week over at our website could difference though I think the same could apply here that's very reasonable right the survey says that women earn seventy eight cents per dollar invested men only earned thirty one cents I won't necessarily say it would be a flood but I'll tell you we would be very happy to see that happen if this one report made that kind of difference in the industry we'll take that all day long eighth marketplace Tech Dot Org one interesting result of the survey data is that sixty percent NBC's say there aren't enough women or multicultural founders in their portfolio the Wall Street Journal tried to break it down a year or so ago but investors are putting tons of money into venture capital and private equity right now because stocks and bonds are kind of flattening out I would have to demand major change. VC firms make money by charging a fee for managing money that's about a two and a half percent of the amount they raise says apm this marketplace podcast is brought to you by entercom intercom what's more of the Nice people visiting your website to give you money so they took a little chat bubble in the corner Google's so that even if everyone is doing fine right now why not at least try to do better Matt Pretty and Stephanie Hughes Produced Marketplace Tech Jody on customer unity got forty five percent more loyal users with intercom in just twelve months go to intercom dot com slash podcast to start making money from real time chat

Google Matt Pretty Stephanie Hughes Four Trillion Dollars Forty Five Percent Ninety One Percent Eighty Percent Ninety Percent Sixty Percent Twelve Months
"venture capital firm" Discussed on CRYPTO 101

CRYPTO 101

02:35 min | 2 years ago

"venture capital firm" Discussed on CRYPTO 101

"Join a venture capital firm. And that was when I first came across bitcoin. So this was two. Thousand in ten. So year after the socio white paper or the big win, white paper came out. The first wave of bitcoin came through Silicon Valley and I was in silicon Batty, a junior partner. They're looking for new opportunities in new technology at emerging trends. And that was when bitcoin I came. It was digital money. It was the future of finance. It was dizzy cash in all these things and I was immediately treat in interested. The problem was there was no place to buy you either had to mind it yourself or had defined go through the web. There was no clean base snow legitimate exchange to buy bitcoin. And at the time it was only bitcoin. There was no other token out there. So that was two thousand ten and fast forward to two thousand thirteen because I left the VC firm to join SoftBank. So stop Bank, as you know, is a investment internet conglomerate. And I was in charge of stopping Asia. So I went to Singapore. I was in charge of India, Indonesia. Asia southeast Asia, all joint ventures investments, partnerships. And while I was still has SoftBank, the second wave of cryptocurrency came in that was when the price of bitcoin became a thousand dollars in China in people, again, talking about it as the future of money and with the smartphone and Wallid it was financial freedom. So this was thirteen, two thousand and thirteen. And I knew at that time that crypto currency was here to stay. So I decided to, I met my co-founder in Singapore's. Well, he was the CEO of Credit Suisse Asia where he built exchanges. So he build commodity exchanges fixed income bond exchanges and forex exchanges and this aerial, yeah, this is Mario and we do that. The future of banking and finance was going to be very different. It was going to be all digital and the traditional way of. Doing business in highly regulated financial industry was going to be completely disrupted by crypto currency, and that led to our co founding the company together in two thousand fourteen. The other thing was there were still no credible exchange to buy bitcoin mount God's was there. But if you guys social media in bulletin boards, they were already have difficulties with withdrawals read. So we knew that there needed to be a safe insecure, credible exchange.

bitcoin Asia CEO of Credit Suisse Asia SoftBank Singapore Mario partner India co-founder Indonesia Wallid China thousand dollars
"venture capital firm" Discussed on Love Your Work

Love Your Work

02:05 min | 3 years ago

"venture capital firm" Discussed on Love Your Work

"So it was sort of things as it is doing it's claim it's kind of like a venture capital are for the pentagon but they don't invest in companies by law with one of the constraints was we had to figure out how can we give money to start ups without investing in the raid the long story short we found some legislative hacks to get around there was even a law from the eisenhower era that had been on the books since then but nobody really used it because they were afraid to use a ring people you know the good professional bureaucrats they don't wanna lose their job so they weren't willing to take risks didn't even use these laws that existed for sixty years to help but just sat on the shelf collecting dust we found them dusted them off and apply them and across the board said how do we create magnetism like it's not enough to have a government programme because everybody in silicon valley's going to say oh yet another crappy follow government program i'm not going to bother meeting with them we the put their money where their mouth was do something really bold so we now have or this group now has an office in silicon valley acts like a venture capital firm they are finding startups meeting founders understanding what's happening in the world it's half military in half innovation people so for example i recruited one of the leaders for grew wax their lab who now runs this military group and though you know they'll meet a startup that's working on an interesting problem but the government wants to subsidize but they're willing to think about it differently than a typical venture capitalist right that typical venture capitalist is thinking how is this going to get to the next round of funding in twelve months is going to have a billion dollar exit the government is thinking does the solve a problem that we care about and are we willing to put money into so go meet a startup and they'll give of storing up a million bucks five million bucks and it's done in averaged from first meeting to money in the bank and fifty five days commercial two page contracts none none of the.

pentagon eisenhower fifty five days billion dollar twelve months sixty years
"venture capital firm" Discussed on WAFS Biz 1190

WAFS Biz 1190

01:53 min | 3 years ago

"venture capital firm" Discussed on WAFS Biz 1190

"So much quote nerves on a couch are not a cuddled puddle first of all i really know what a cuddle puddle is what it sounds kind of relaxing a nice was but i was going to look it up but i don't know if i want to do it out you know or on the work imperial be fire it'd be fired how you're probably get block joining be able to look at but there's a couch are not a cuddle puddle that's what he had to say this was a party uh that was put on by the venture capital firm d f j and are the book the emily chang road is called broto pierre in case you want to look it up and i was right she is from bloomberg view bloomberg reporter she's great i've watched a lot of the interview she's done i kinda wanna be her she's got a great gig on bloomberg so i don't think it she is you know a liar liar pants on fire i think that this is one of those situations where people have different experiences at parties and just because no one group you on mas it doesn't mean it didn't happen but at the same time there's always that one person who drinks too much and you know passes out in the cuddle puddle and and maybe overreacts do how they got that way i'm not saying i'm just saying because look here's the problem with all of these sexual harassment discussions if you if you if you if you should any doubt on the accuser then you're not a you know a stand up woman or an ally if you're a guy right i don't know if that's entirely fair i think it's okay to ask questions and get opinions from other people who were in the room if there were other people in the room and look i'm not saying we should doubt people who are saying their victims of sexual assault but i think we really need to look at every single one of these cases independently and talk about you know what really happened there i mean not that it it's all all of our business but if it's going to get out in the public and you're going to make public accusations in it's sort of becomes our business and i think as we grapple with how.

bloomberg assault venture capital firm reporter harassment
"venture capital firm" Discussed on KBOI 670AM

KBOI 670AM

01:38 min | 3 years ago

"venture capital firm" Discussed on KBOI 670AM

"Markets will always tell you when you've overborrowed if you're an individual or a corporation or a government markets will let you know if you've extended yourself too much for too what would we rather the government do would we rather the government just take the money from us and taxes or at least pay us for the right to wasted or if you believe government does wonderful things that find but would you rather the government if a venture capital firm wants your money at pays you for the right a bank page you for the right but the big thing here is that what would we prefer a balanced budget of four trillion dollars or an annual deficit of five hundred billion on one trillion in spending i know what i would prefer bees every dollar the government spends is just an extra bit of control the federal government has over the economy i don't care whether you're republican or democrat what that means is the economy's weakened stops focusing on deficits and focus on reducing the inflow of reducing the inflow of dollars into washington that's what's crucial because there are no businesses there are no jobs without investment when you reduce the inflow to washington you increase greater opportunity outside of washington i'm speaking with john tenewi of rip their markets as well as forbes and we're talking in context of the republican tax cut bill there's something in this builds dislike uh four both parties and there's reason in this bill to dislike both parties so when we come back we'll go to who had the deficit hawk on the democratic side in this particular instance a very prominent columnists of the new york times andrew ross sorkin i'm john batchelor this is the john batchelor show.

venture capital firm federal government washington john tenewi forbes the new york times john batchelor andrew ross sorkin four trillion dollars
"venture capital firm" Discussed on Liberty Talk FM

Liberty Talk FM

02:22 min | 3 years ago

"venture capital firm" Discussed on Liberty Talk FM

"A fight the most size now i found that debt you'll being in the startup world like i am i found the companies that would then at that happens to no matter how libertarian their founders may be the problem is is when they bring in venture capital firms that the cell out debt they that they give too much ownership to mmhmm okay and view a lot of those firms wind up having you know their hands in all kinds of dirty pots like axelle partners for instance which backed facebook which back second life the at the cia or dad's a cia front and inkyu tell as another venture capital firm there the the ansa so there's other firms like that that that do for early for like the uk for the at my six and gchq yeah and then they come in there and they say well we're gonna have to suggest you do it this way and or else were pulling out there and or their pulling out or they're you know they're just going to dump their stock on the private equity markets and ruin your market failure while and that's why a lot of these old money people are against cryptocurrencies not just bitcoin but a theory i'm for instance which is allowing a lot of fundraising for projects of a decentralised nature so the the initial currency offerings that are going on and this there's this craze for these things some of them are probably total scams from top to bottom but some of them seemed to be legitimate there they're allowing funding to happen without having to go to v seized two to go to these venture capitalists a lot of the old malaysia firmly offices which are essentially high net worth individuals who set up management groups fought to preserve their families wealth through the generations they are actually starting to get interested in cryptocurrency and because they are starting to recognize that where he in a transformative period in history just like the beginning of the industrial age was yes scher and so there you know just as the aristocrats back dan lost their wealth in the industrialised who started out as just middleclass merchants became the wealthy class they see a similar sort of thing happening now the technonerds are going to become the wealthy class will not as technonerds 'cause i'm not a technonerds at all i rob just i'm talking to.

venture capital firms facebook second life cia uk equity markets scher axelle venture capitalists
"venture capital firm" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:12 min | 3 years ago

"venture capital firm" Discussed on Bloomberg Radio New York

"Ritholtz on bloomberg radio my special guest today is drake's sans he is the founder and managing partner of costa no of ventures he was the first product manager at netscape communications where he not only wrote the initial business plan but coins the name netscape greg sense welcome to bloomberg it's great to be here with you so you're a founder and a managing partner at a venture capital firm is this the sort of career path you're expecting to take your background is not quite total vcr though i guess in hindsight we could say that well it it isn't what i saw myself do and as a kid i grew up thinking i wanted to be the senator from the great state of minnesota and much to my surprise al franken hold that job instead of money so that's funny i i expected to be a fighter pilot or an astronaut so we had very different goals that's right absolutely and so that evolved as i as i got into my career initially at a management consulting firm and boston made my way to business school as at stanford so in the in the heart of silicon valley and then just started navigating my way through the software and so so from minnesota to a cambridge in in outside of boston to igf california did you how did how did that transition go i'm always surprised at how people find the way to california and it's all my god it's beautiful the geography is spectacular the weather is great it's hard to leave their isn't it well yes and so weren or were in palo alto in in northern california near near san francisco and i ended up having spent seven years in boston in cambridge have an opportunity to head out there and i didn't know what i was getting into my literally told people hey i'm i'm going to stanford i'm going to the beach and they said it's not anywhere near the beach have you ever been there and i said no but it sounds great the weather everything is still spectacular that boston's winter's are not not easy winter's well they're easy when you spent the first eighteen of them in minnesota i guess it's all relative isn't it so so.

cambridge san francisco igf california al franken managing partner costa bloomberg palo alto california founder and managing partner stanford boston minnesota senator venture capital firm founder netscape communications seven years
"venture capital firm" Discussed on Equity

Equity

01:41 min | 3 years ago

"venture capital firm" Discussed on Equity

"Existing employees um or you know existing shareholders to be able to buy a house turned that paper money into cash it for the holidays so because really a lot of these early uber employees are actually room plays or whatever it's all have just been paper money and so they are going to be able to turn that paper money into riches and holidays seems like a great time to do that so i am told but there's more timing of all of this relates to a separate issue we've talked about at length on our podcast we've wide would be ad nauseam and smart worrying about so so there can be other side of this if if sabic walks away a lot of very important governance changes are going to disappear at the same time so if you recall back to august 10th benchmark a very important venture capital firm in silicon valley in a critical early who were investors sued travis kalanick the then former sea of uber now i can really on the one hand count the number of times i've seen a very large shareholder sue an xe o especially with terms or phrasing that were really really sharp so from the lawsuit i'm going to read a little bit here and this is off of a dan pre next report modest and through the glitch are breaking this here's i guess count the former sea over to entrench himself on uber's board of directors and increase has power over uber for his own selfish ends count its overarching objective is to pack uber's bore with loyal allies in an effort to insulate his prior a conduct from scrutiny and clear the path.

venture capital firm sabic travis kalanick one hand
"venture capital firm" Discussed on Morgan Stanley Ideas Podcast

Morgan Stanley Ideas Podcast

01:46 min | 3 years ago

"venture capital firm" Discussed on Morgan Stanley Ideas Podcast

"We feel that in including a social environmental economic purpose in your business actually improves your chances of financial success that's nazi fund founder and managing partner of d b l partners in san francisco what does d b l stumped full i bet you can gas were a venture capital firm that invest for two bottom lines the first is whatever and al status which is to deliver top tier returns financial returns to our investors the second is different it's the social bottom line we aim to deliver economic environmental and social progress in the regions and sectors in which we invest over the years nazi found has been an early invest in some of the world's biggest autopsy tesla so the city upon dora among others companies that began with nothing more than a big idea and ended up changing entire industries but when nancy was first setting up a fund a lot of her fellow investors thought double line investing was a pretty risky idea in the early days of our firm there was a considerable amount of scepticism about blending the goals of social purpose with strong financial return historically these have been people have separated they've they've given money to charity and then they've put money and their investment accounts and not carry often had those two intersected that intersection may people unease e why fix a business model that isn't broken investors were already used to the idea of corporate social responsibility like when huge companies have service days for that thousands of employees that idea has been accepted in the mainstream since the 1960s.

san francisco venture capital firm nancy founder and managing partner
"venture capital firm" Discussed on KNBR The Sports Leader

KNBR The Sports Leader

01:55 min | 3 years ago

"venture capital firm" Discussed on KNBR The Sports Leader

"Fake dinner at this sort of bad after bad apple and time curious flag when how you think about the difference between a bad actor bad apple because there are some bad apples out there but then what is it a bad system and how do you sort of think about that distinction for me it became very clear at the venture capital firm when there was around a promotions and all of the women did not get promoted and i think all the men got promoted except maybe one and you know you look on paper at the resumes near the women had more work experience coming into the firm they had more work spirits at the firm they had on average much better educations and you know one of the woman had actually gone through and looked at all the investments for the men and the women and found that the woman's investments were doing significantly better so you look at that and you know and then you would hear like oh ozone so she's not getting promoted because she talks too much and do you don't talk enough frighten so maybe next time and you hear all of that and then you look at the people who did get promoted and some of them talk to merge some of them tough entrepreneurs some of them like all of a sudden you're looking at a much broader set of data and it seems very clearly is is not a fair system and it's not just me it's actually the system so it makes me wonder kind of thinking back to her earlier experiences in your career whether there were actually bad systems at work that maybe you didn't have the visibility in two or the data to do the pattern spotting i mean do you ever think back and think like man i wrote that off as a bad apple whereabout actor but like actually i think through the bad system yeah i like one of the things that stuck to me very strongly now that i have more information it it's even more clear to me now there's a women who left and as she left she warned me about other partners at the law firm that i worked at and.

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"venture capital firm" Discussed on KQED Radio

KQED Radio

01:55 min | 3 years ago

"venture capital firm" Discussed on KQED Radio

"Of bad actor bad apple and time curious leg when how you think about the difference between a bad actor bad apple because there are some bad apples out there but then what is it a bad system and how do you think about that distinction for me it became very clear at the venture capital firm when there was round of promotions and all of the women did not get promoted and i think all the men got promoted except maybe one and you know you look on paper at the resumes near the women had more work experience coming into the firm they had more works appearance at the firm they they had on average much better educations and you know one of the women have actually gone through and looked at all the investments for the men and the women and found that the woman's investments were doing significantly better so you look at that and you know and then you would hear like ozone so she's not getting promoted because she talks too much and you you don't talk enough freight so maybe next time and you hear all of that and then you look at the people who did get promoted and some of them talked too much some of them tough entrepreneurs some of them like it all of a sudden you're looking at a much broader set of data and it seems very clearly is is not a fair system and it's not just me it's actually the system so it makes me wonder kind of thinking back to her earlier experiences in your career whether there were actually bad systems that work that maybe you didn't have the visibility in two or the data to do the pattern spotting i mean do you ever think back and think like man i wrote that off as a bad apple whereabouts actor but like actually i think through the bad system yeah i like one of the things that stuck to me very strongly now that i have more information it it's even more clear to me now there's a woman who left and as she left she like me about other partners at the law from that i worked at and.

apple venture capital firm
"venture capital firm" Discussed on KQED Radio

KQED Radio

01:55 min | 3 years ago

"venture capital firm" Discussed on KQED Radio

"Of bad actor bad apple and so i'm curious wake when how you think about the difference between a bad actor bad apple because there are some bad apples out there but then what is it a bad system and how to use sort of think about that distinction for me it became very clear at the venture capital firm when there was around a promotions and all of the women did not get promoted and i think all the men got promoted except maybe one and you know you look on paper at the resumes near the women had more work experience coming into the firm they had more works appearance at the firm they had on average much better educations and you know one of the woman had actually gone through and looked at all the investments for the men and the women and found that the woman's investments were doing significantly better see you look at that and you know and then you would hear like ozone so she's not getting promoted because she talks too much and do you don't talk enough right so maybe next time and you hear all of that and then you look at the people who did get promoted and some of them talk too much on the bottom of entrepreneurs like all of a sudden you're looking at a much broader set of data and it seems very clearly is is not a fair system and it's not just me it's actually the system so it makes me wonder kind of thinking back to her earlier experiences in your career whether there were actually bad systems at work that maybe you didn't have the visibility in two or the data to do the pattern spotting i mean do you ever think back and think like man i wrote that off as a bad apple whereabout actor but like actually i think through the bad system yeah i like one of the things that stuck to me very strongly now that i have more information it it's even more clear to me now there's a woman who left and as she left she warned me about other partners at the law from that i worked at and.

apple venture capital firm
"venture capital firm" Discussed on The Tim Ferriss Show

The Tim Ferriss Show

01:38 min | 3 years ago

"venture capital firm" Discussed on The Tim Ferriss Show

"And cause people to sell at the wrong time or by at the wrong time and i have found i am particularly sensitive to selling at the wrong time so for anything that would present itself as a handicap given that weakness i've identified in myself i should let someone else make the decisions or automated with say low cost index funds of some type or it so those are the prefacing statements sorry took a little longer than expected but those were all i think very important to cover before we get into the nittygritty so find what works for yourself ignore would doesn't create what is uniquely your own but do not risk what you can't afford to lose all right so while la the barbault for instance approach has been very helpful for me it is not appropriate for many many people out there listening all right let's get to the rest mark andriessen at p markelle that's p marc a on twitter is a legendary figure in silicon valley and worldwide even in the epicenter of tech it's very hard to find a more fascinating i counties considered like i said one of the founding fathers of the modern web wore slash internet which makes him one of the few humans to create software categories used by more than a billion people multiple software companies mark is now cofounder and general partner of the v c that is venture capital firm in recent horowitz where he's quickly become one of the most influential and dominant tech investors in the world.

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"venture capital firm" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:56 min | 3 years ago

"venture capital firm" Discussed on Bloomberg Radio New York

"The deal could reach as much as twelve billion dollars but he hangs on the outcome of a courtroom brawl between two board members funding would come from saw off bank chinese ride dealer didi hsuehsheng and us equity firms dragonair investment and general atlantic this is according to people familiar ten cent also said to be exploring contributing funds the battle in the courtroom is venture capital firm benchmark is suing travis kalanick the former ceo of uber who was ousted in june the dollar rallied stocks fell halting a twoday advance we had strong us retail sales exceeding forecasts last month that lifted some speculation that the fed might raise interest rates this year we had treasuries down the yield up to two point two seven percent still in range though of that to twenty two to thirty or so the sp five hundreds and the nasdaq drifted lower the dow was slightly higher up for a third straight day and amazon sold sixteen billion dollars of unsecured bonds in seven parts to fund its thirteen point seven billion dollar acquisition of whole foods it will price now forty seven dollars and sixty eight cents pulled trickling lower down to twelve injured and seventy eight dollars in ninety cents all right let's get to san francisco into the bloomberg 960 newsroom here's our angie lau who has details on the top story angie thanks reina president donald trump says equips protesting against white supremacists in charlottesville virginia work quote also very violent trump is calling does protesters the ultra left he says there is blame on both sides after the deadly violence over the weekend with japan's opposition wracked by infighting any challenge to prime minister shinzo obvious grip on power is likely to come from his own party the next liberal democratic party leadership election is expected in september two thousand eighteen and assuming the party stays in power the winner will be prime minister and finally the israeli foreign ministry says it has delivered thousands of meals to sierra leone as the.

charlottesville sierra leone democratic party japan president travis kalanick venture capital firm didi hsuehsheng israeli foreign ministry prime minister virginia The deal donald trump bloomberg san francisco amazon dow nasdaq interest rates fed retail sales ceo sixteen billion dollars twelve billion dollars seventy eight dollars seven billion dollar forty seven dollars two seven percent twoday
"venture capital firm" Discussed on Impact Theory with Tom Bilyeu

Impact Theory with Tom Bilyeu

01:30 min | 3 years ago

"venture capital firm" Discussed on Impact Theory with Tom Bilyeu

"How if in rebuilding packed number nine how to come up with business ideas jason emmett cereal disruptor entrepreneur of billiondollar businesses you said that it takes nothing more than incite and drug be successful and then the question that like screamed out of my mind was can you trained to be more insightful absolutely how do you do that so here's a sip works or size forever buddy watching and i guarantee you the thirty days from today for when you watch this you will have more deal flow than any venture capital firm in silicon valley take a piece of paper and today where three problems in your life i traffic this morning with scott take my medicine whatever might be but do this every day for a month because what you own find his first states guide easy maybe a second date but after veteran alert oh care wrote down my problems so what else is a problem that you are aren't identified because you've accepted that's the way it is that's way it's always been you know you work at a big corporation well this is the way we do it while you're going to go out of business doing and then when you had those ninety ideas what are you passionate about and what affects the most people in the intersection of those two in your life you're passionate about nutrition that it could change people's lives okay and you saw way that you could financially impact them.

venture capital firm scott jason emmett billiondollar thirty days
"venture capital firm" Discussed on KGO 810

KGO 810

01:44 min | 3 years ago

"venture capital firm" Discussed on KGO 810

"Who can afford one hundred thousand dollar car is actually my criticism and then the super charger you get another subsidy and again you have to be a homeowner here in the bay area to be able to put in one of those supercharge or just level to chargers and but i'm subsidizing that how how does i mean how does that at uh you know you're taking money out of our relatively broke state and giving it to people who have a lot of money that's reverse or regressive taxation to me yeah and if you pull that fact out by itself than that makes total sense but as i said there's never been out there is a long history of subsidies and tax subsidies for people to invest in oil and gas loyalty and and and that kind of thing and so government ended up deciding and it's up to us to get involved with politics get elected to office and fight for the tax policies and government supports that we'd most believe in and think are the most fantastic so so let's i a tight where things i think it's really hard to talk about and it because it's it's hard to bridge these concepts is this idea of social responsibility and being a business owner i know you're you're an expert on his uh joe psalm and by the way is joining me on the phone are now is chair of renewal renewal funds which is a venture capital firm out of vancouver in his new book is the clean money revolution reinventing power purpose and capitalism so how can you be socially i want to i mean seriously nuts and bolts wanna talk about it how do i how am i to be socially responsible and still turn a profit right i mean i still we have to make money you know so was one of the issues here in the bay area that's that's very complicated as you well know is a very is is raising the minimum wage for example that has had some negative net impact for example you know we're going to face the automation.

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"venture capital firm" Discussed on CBC Radio - Spark

CBC Radio - Spark

01:42 min | 4 years ago

"venture capital firm" Discussed on CBC Radio - Spark

"Carolinewilkins is the senior deputy governor thebank of canada and nor young you're listening to our summer series the spark guide to living technology and transformation in 10 parts today a look at the future of canadian in back in september 2016 we look to the future of money in the digital age we just heard what carolinewilkins the senior deputy governor of the bank of canada thinks the future of fin tech is but what about someone who has put his own money into the technology of the future it's race sharma extreme venturepartners the founder and executive managing partner extreme is a venture capital firm we too early states venture capital raysharma is one of canada's most influential venture capitalists and it's his job to figure out what the next big thing is and then fund it in the interests of full disclosure raise investments do include a finn tech startup cold crowd matrix back in septemberi visited raid his office in downtown toronto was big room with high ceilings crowded with mostly young people a computers working on their various startup projects we ducked into a quiet spot to talk ira high so we just heard from carolinewilkins who's the deputy governor of the bank of canada and she said this is a quote the doors wide open for some innovation and some efficiencies that hopefully can result in better services and lower costs for consumers and businesses so what should be coming through that door what are the opportunities here.

Carolinewilkins governor thebank canada venture capital firm venture capitalists toronto bank of canada venture capital septemberi ira
"venture capital firm" Discussed on The AskGaryVee Show

The AskGaryVee Show

01:57 min | 4 years ago

"venture capital firm" Discussed on The AskGaryVee Show

"You can get in front of everybody in the world if what you say is i got in front of you today if this keynote sucked i wouldn't have done anything that's valuable for me right creative is variable of success so you gotta make videos but the fact that you can then take that video and for a thousand dollars hit the employees of ibm of of any venture capital firm in the world of your competitors of the people that invested in other three d printing copies or pharma companies johnson johnson three m g you can literally take the video and run them against employees of those employees then forward that video to the decision makers within the organization it is an incredible opportunity that's what i would do carajas how i mean how would accompany the company which are geeks with a to one guy in the world which is you i'm just email me scary intermediate scraps i'd be the fifty fifty four fifty i look for it i would ask you pass it on behind you very nice high high well my question alex it maybe stupid with my question is not about what to do it's about what not to do let me explain sure i'm sure you have lots of experience and i guess you may be made some mistakes and you learn from them so please would you want to share with us a lesson learned from a mistake in order for us to understand and against the light on what not to do in marketing or in business or your life in general so thank you i think i won't let me give you the best answer to that question which is the amount of time that i have spent thinking about my mistakes is all of them combined and by the way alexa i've made a lot.

ibm venture capital firm alex thousand dollars three m