20 Episode results for "john chambers"

Tesla Will Struggle To Raise Money Without Elon: Kudla (Podcast)

P&L With Pimm Fox and Lisa Abramowicz

31:17 min | 3 years ago

Tesla Will Struggle To Raise Money Without Elon: Kudla (Podcast)

"Hi, I'm Elizabeth banks, and I've teamed up with State Street global advisors to uncover the bold moves mid cap companies make to thrive and survive, subscribe to our podcast and search crazy enough to work to watch our films street global advisers, funds distributors, LLC. Welcome to the Bloomberg PNO podcast. I'm Pimm FOX along with my co host Lisa Abramowicz each day we bring you the most important note worthy and useful interviews for you and your money, whether you're at the grocery store or the trading floor. Find the Bloomberg PNL podcast on apple podcasts soundcloud and Bloomberg dot com. Tesla definitely on the forefront of people's minds this morning after the SEC sued Elon Musk for misleading, the world, frankly. But particularly the markets when he said that he was going to take a tesla private for four hundred and twenty dollars share saying that funding was secured when in reality it wasn't shares now of tesla down by eleven percent. So definitely seeing a big fall there. David could LA is founder and chief executive officer and chief investment strategist of mainstay capital. David, you're joining us. Now you've been bearish on tesla all along. What's your take on this? What are the declines really stemming from here? Well, the declines today or something from the lawsuit by the SEC yesterday announced just four or five minutes after the close. And we saw what happened in after hours trading. And of course what's happening in in trading today. And you know, this is a big problem for Elon Musk and tesla. Obviously. David could lead Jabber look at used or pre-owned car prices when it comes to tesla. Yes. And I was looking for example at how they hold their value and they don't seem to do so is that concerning? I think it should be concerning. And I think it's interesting to that that they don't hold their value is is somewhat might expect. But I think Tesla's concern PR primary concern right now, they've got some more immediate issues with their cash position. You know there there will they be able to remain solvent their production problems, their quality problems, service center problems. And you know, just the metrics that they're trying to to hit as we go forward here over the the coming weeks months and couple of quarters, David to follow up on that when I asked, you know, why are the shares falling? Is it because there is a feeling that Elon Musk might be kicked out of the position of chief executive officer and what that might mean for the company? Both from capitol. Raising standpoint as well as directional standpoint. Is it because of concerns of fines that are going to potentially reduce their capital position further? Where's the risk here? Well, it I think there's a couple of rest, so I it's that that this is an overhang for the company. There was an opportunity where this could have been. There was a settlement in front of Ilan mosque in the board on this and eat on musk in his in his way, decided to push back and fight it. So now there is, you know, obviously a risk to shareholders we as we've seen today, there will be a risk and being able to raise capital and the risk of Elon Musk future with the company because he could be barred from being a director officer of a public company. And that's problematic because you know there's been estimates that there's one hundred dollars or one hundred twenty dollars. One hundred forty dollars. In the price of Tesla's stock as a Email on much premium and look, he is a genius inventor visionary. You can obviously his his mission is admirable and the people the, you know, it's almost a cult following, you know, the people that are the customers that are there at the delivery center. You know dressed, like they're going to a wedding receiving their their vehicles. There is a a loyal following, and if he lawn is gone or is forced to be gone from the company, you know are analysts out there saying, well, that could be good because of his erratic behavior. There needs to be an adult, the room running the company. The flip side of that is what tesla has going for. It is very loyal following who was given Ilan musk and tesla. A lot of passes on broken promises, milestones that haven't been met cars that are not good quality by a typical standards in the industry and those. People when he lawn has gone, they look at tesla and say, tesla z. lawn in Alana's tesla in Ilan, we trust and you lawns gone. They lose that that I think they'd lit a lot. And you know, to David's point, there are a number of analysts from j. p. Morgan and UBS at a number of other big firms saying that they are concerned that without Elon Musk at the top Tesla's going to really struggle to raise money. And this is a problem because they're running out of cash right there burning, they're burning cash, David could do you have any thoughts on the speed with which this action by the securities and Exchange Commission has been brought after learning that Mr. musk decided to not go along with the settlement? Well, it's it's, you know, when we look at it and you know, we were on Bloomberg talking about it that week it, it was. It just was pretty obvious when you look at the circumstances. Very quickly that it there just wasn't a deal there. And then as more facts came out, it became quite apparent to a lot of people that this had a lot of the elements of what could be called stock me manipulates fraud. And I think the SEC knows they have an open and shut case. They did. You hear the report, for example, at the reason that I think. I think it was. I can't remember what it was in the journal of ties what I mean, even our reporting that. He's selected the actual dollar amount of four hundred and twenty. God just tell that story. Pitt and it was it was I don't wanna say amusing but unusual that it was actually in the complaint that the SEC stated that he added twenty percent premium to the the stock price that time came up with about four nineteen rounded up to four twenty because of the reference to marijuana that has. And that is girlfriend would think that was funny and that and that's not me that, no, no, that's the SEC plane and which is unusual, but interesting. And I think they wanted to point that out as a flippant attitude about everything. And that's, that's that's what's key here. That's trying to leave it there. Thank you very much for joining us. David Kula chief executive chief investment strategist, mainstay, capital management. You're listening to Bloomberg. John Chambers, he is perhaps best known as being the chairman and the chief executive former chairman and chief executive of Cisco. He began his career and technology sales at IBM. E also worked for Wang laboratories before joining Cisco, and he joins us. Now as the author of a new book entitled connecting the dots lessons for leadership in a startup world, John Chambers, thanks for much for being with us, Kim, and Lisa, it's going to be a lot of fun and look forward to our conversation. Well, I just want to give full disclosure that I, I met John Chambers at a diner in Silicon Valley with another gentleman named Eric Benhamou, and he at that time was running a company called three com and we know what happened to three com, which is it doesn't exist necessarily in its form anymore. Cisco, on the other hand, went on to bigger and better things John. Maybe you could tell us why you wrote the book and why you believe that startups really demand a different level of attention and how you ran Cisco as a startup really until you left what thank you Pam, and I've very much remember that conversation because area is an excellent CEO and what it talks about, and I decided to write to book originally, I don't like writing, I'm dyslexic. It is really hard to do, but I kept getting the same questions. Yes. I talked to startups around the world. I'm now which ABC two ventures. We've invested in sixteen startups globally and focused very much on how do you scale and grow companies. And I decided the right to book because I kept hearing these same questions from the startups. It didn't matter if you into by New Delhi Silicon Valley, West Virginia, the startup Theo's had the same type. Of issues and challenges which were how to skill the company. How do you grow, Wendy, decide to hire people how you deal with your challenges near setbacks and I love teaching, and that's what I love doing. Perhaps most of all his building teams. So the lessons is very simple. I like to share those. You're in a period where you grow, you dot EU disrupt. You get disrupted, you catch business and technology trends at the same time. And Eric was a really good competitor, unfortunately, but we had probably five or six really tough big competitors, five or six companies are sized like three Commonwealth late and said optics, and then a whole bunch of startups. What allowed us to break away with acting like a startup, all the way going from four hundred people when I joined Cisco to seventy five thousand and to be reinvent ourselves again and again, and to learn that setbacks while you wish you could avoid them actually make your stronger as you move forward. So sharing. That's what I'm after. And I've had the opportunity to be in the. Front row seat and sometimes in the middle of the Plainfield as I walked, these transitions occur in my home state of West Virginia and Boston one twenty eight, which used to be Silicon Valley of the world as mainframe computers. IBM mini computers think Wang deck data general p players. Now the internet now moving digitisation. So I've seen the movie. I have the scars. I've done some things right and boy have made some steaks, and I've quiet one hundred eighty companies. I know what it's like to scale company. So John given that vast experience and given the fact the currently looking for startups that are worthy of your investment. How well positioned is the US in the fight Ford future dominance, not only over technology, but in general, with its startup culture, these sad. Thank you as the the major takeaway. I hope people get from the book. We think of ourselves as the innovation nation. We are not an interesting us. The Bloomberg index on innovation doesn't have as in the top ten countries anymore. We think we're the startup nation of the world that was true in the ninety s and two thousand. We used to get ninety percent of venture capital into our country and twenty years ago. Then ten years ago eighty today it's fifty percent. And if you watch, we're almost twenty year low in terms of startups, I e versus where we were two decades ago, the number of IPO's and you guys know this very well. Lisa is at a very low level compared to where it was in the nineties. We're excited about doing two hundred and thirty app ios and the new York Stock Exchange the NASDAQ this year. And it's up slightly from the high in one eighties last year, but we did four hundred to five hundred per year in the nineties. If you're gonna generate twenty five to thirty million jobs over the next decade. And if you combine with that a requirement to generate another twenty million plus because digitisation automation, artificial intelligence will destroy twenty to thirty million jobs, probably twenty percent thirty percent of our workforce. If. If we don't get this start up engine going again and we're too complacent. One of the things point out in the book is the worst thing you can do. The worst thing you can do is keep doing the right thing too long, and that's what gets companies into trouble and countries like France that you've you and Pimm. You interviewed three or four years ago is the worst place to do a startup have moved to the best place in Europe going from a hundred and forty high tech start up venture backs per year to seven hundred in four years. John. I just wonder if you could offer your thoughts about one of the various numbers of points that you make in the book about vision and strategy and so on. But I thought that one, particularly geographic proximity to headquarters or key operational centers that's like real information you can use. It is originally, I thought that at Cisco, we build an internet and we were changing the way the world works learns some plays, and I thought you could have a company that has people everywhere and punk. Just as good as one that had everybody'd headquarters. I was wrong. You've got to have economic centers where you can move your teams around as one product is better or another product has not as you promote people from one function to another. And in this new startup world, if you watch what is happening, we're not just not doing the number of startups. We should in this country. It's almost all north east coast almost all Silicon Valley and almost all Texas. We need to bring that across the heartland of American and down to the southeast. So my view is that we need to locate startups at these hubs with universities in pick one or two universities per state and make all fifty states startups because that's where the job creation is going to Kerr. The big companies in total will not add headcount this next decade. John Chambers, thank you so much. Unfortunately, we have to leave it there. We do talk with you all afternoon. We'd love to John Chambers, former executive chairman and chief executive officer of Cisco. Now is the founder and CEO of j. c. two. Ventures in Palo Alto, California, and the author of a new book connecting the dots lessons for leadership in a startup world. When the world keeps throwing curveballs businesses need to do the things that are crazy enough to work. I'm Elizabeth banks and I've teamed up with State Street global advisors to uncover the bold moves mid cap companies make to thrive and survive. Every business has a story to tell subscribe to our podcast and search crazy enough to work to watch our films globally buys response distributors, LLC. Indeed, a Tesla's founder and charismatic chief executive. Elon Musk was slapped with a lawsuit from the SEC saying that he was engaged insecurities manipulation with his four twenty dollars a share tweet. He said that funding was secured to go private. It was not joining us. Now, John Wilson head of research in corporate governance, a quarter stone, capital group in New York. Joining us here in studios. John, I'd love to get your perspective in terms of the corporate governance aspect of this in terms of what the board should have done and what the liability is of having one charismatic leader who is somewhat unhinged. Well, that's great. That's a great couple of questions. And I think they'll take the second one I write. This is a company that you when you invest in this company. You are investing in one person really, right? Because this is a company. It's a car company, but it has trouble making cars sometimes, right? It's deepened debt. Its signature product. Electric car is less lesson novelty every day, right? As other manufacturers are coming up with their own lines. And so what are we investing? We're investing in the charisma, this one individual and the fact that he's such a fan following all over the world. People want these cars in part because of his persona, and as it starts to flag, then you have to ask yourself, okay, I need to take a step back. Ask the question is, what am I invested in? Is this a company that can grow beyond? And this is what you're your point about the founder's syndrome, essentially, as can we grow beyond this one individual to create a sustainable, going concern that can actually sustain himself over the long term? At this point, especially given their management troubles seems hard to imagine how they're going to do that. The you've written. Obviously not just about tesla but a variety of companies, and you also speak about how companies are not nimble enough when it comes to these issues. Could you just explain that? Well, a lot of companies are have blind spots right? About a lot of different cultural and social issues that they're facing, right. This is something that we look at when leaders are not in touch with what their other stakeholders are talking about. This can become a huge problem for companies and one issue I think that are on people's minds right now is the question of sexual and gender based violence, right? It's not quite the same thing as what Tesla's facing at the moment, but it's another cultural issue and an issue of leadership. I think going back a year or so if you had asked folks, are you for or against sexual harassment? I think you would have pretty much found everyone to say they were against it and yet and yet. So many of these companies found themselves facing allegations, credible allegations of cultures of sexual harassment? Not just. Individual incidents, but whole cultures of sexual harassment and really being surprised by this, and that was what I talked about by not being nimble, not being aware of what's going on in your company or with its customers, its employees suppliers, and it it prevents you from acting in leads to surprises when you hear things in the news. All right. So you raise sort of a question not to conflict, sexual harassment with securities manipulation charges that the SEC is is going after Elon Musk for there is though a question about the board here with tesla as well as as you said in terms of what their role ought to be in setting a culture that is conducive to a lot of different points of view. And so I'm wondering if you could just speak about Tusla. I mean, where's responsibility for their board? Well, here's the problem. So this is this is an issue that we sometimes talk about, which is the corporate governance doesn't matter until it does right. In other words, what I'm saying is is that people have known for a long time. The Tesla's board is a problem that many of the peop-. On tusla's board are have real close relationships to to Elon Musk and there. There are members of the board who are part of solar city, which then they purchased, which he also owned. And what we're finding out also right now is that there is no one with CEO level leadership skills on the board who could take over if see if he leaves. So these are all issues that we knew about, but Tesla's stock continued to rise because of Elon Musk. Suddenly he's a problem and we're looking to the board and recognizing its inability to deal with the crisis. All right. So you deal with a lot of boards and you do with a lot of companies. Do you feel like there is a critical mass of boards that recognize their role in setting up culture? And can you give us a sense of what it takes for them to play an active role in that? So I think that there are. I don't want to. I think that what we were seeing here is is a problem of some boards. And I think there are other boards that are really trying to figure out, you know what the right way to go is, but we're dealing with new sets of issues all the time. There is a much greater awareness of the kinds of cultural issues that are going on all the different companies, right? Not just tesla by, you know, relating to sexual and gender base, violence relating to racial equality, inequality of, you know of income and so forth. And the pro what boards need to do is they need to start to make themselves more aware of what their employees there's their suppliers, their customers are thinking about them. I think there's too much insularity on boards. There's there's not enough turnover onboard. This is one governance issue that we talk about a lot is that here's an interesting fact most of the majority of board members coming onto boards these days are member. Women are members of minority groups. However, bore turnover is so low that the number of women total the total women and minorities is still less than thirty percent. And so the problem is entrenched board members culture where boards are recycling themselves and you need new blood in order to understand what the issues. Are emerging for companies are we're speaking with John Wilson. He is the head of research and corporate governance at cornerstone, capital group, John. Is there any connection in your mind between the performance of a corporate culture and the performance of a stock? In other words, can you make decent investment decisions perhaps starting with the corporate governance issue? What I would say is in one of the reasons why this is a challenge for investors is that cultural issues tend to be longer term. As I said before, they tend to not matter until they do. And you know, the example of Nike is a great one where they lost a lot of talent all the sudden because of issues of sexual harassment in the company. And so if I, if I was an investor looking at a long term investment in a company, I would definitely take corporate governance into account now that may not affect my short term decisions about market sentiment and the and so forth. But if I'm not aware. Of the cultural and governance issues. Then I'm opening myself up to a risk over the long term just real quick. Here I'm struck by what someone wants told made that you have one charismatic leader who the whole company hinges on that company is more likely to experience fraud. Just real quick. Has up in your experience as well? Yes, I think that's right. Because if you if you are all about that one person, then other people tend to operate first of all without being without accountability, right? Without transparency. And so they sort of get the the mindset of impunity if you will. And I think that can happen both for other executives at the company and for the charismatic founder who may sort of begin to see themselves as invulnerable. And so that can happen. Thanks very much for being with us. John Wilson head of research and corporate governance at cornerstone, capital group, talking about the connection between corporate governance investments and corporate performance. We are broadcasting live from the Bloomberg interactive brokers studio is getting close to lunchtime in New York. So we wanna talk about food. I am payment. We're very lucky or joined by the co founders of axel foods, which is a quickly growing venture capital of firm, looking at what we're going to be snacking on. Next, we'll actually be good for us. We have luckily Loren Jupiter and Jordan gas bar here in our eleven three. Oh studios. So Lauren, I want to start with you. What is excellent foods. First of all things for for having us, we are a venture capital fund focused on packaged food and beverage companies. So we invest in the newest the healthiest foods out there, and most of is out there, but really companies ranging from start up all the way to sixty five plus million of revenue and partner with them and really help them avoid the pitfalls along the way a Jordan. Maybe you could speak to the issue that there are so many very large food companies, and I'm thinking of Danone and Campbell Soup. And you know why that are looking to expand their business, but either they don't know how to do it in today's environment, or they're too big to take chances on things. And I'm wondering if you could speak to that and how you help them in those roles. Absolutely. So we, we are very familiar obviously with both of those organizations. What we're finding right now on the climate is that near large strategic are looking to either buy or invest. And innovation. So there's a record amount of capital coming into the industry, and it's a lot of the corpus that we're talking about the coax, the Pepsi's that are driving a lot of interest on. They're coming down earlier in the market. They're making investments in small brands. They're putting resources to work on everything from new direct partnerships with specific small companies that they get excited about to partnering with funds. You. Obviously, we have a pretty public partnership with Danone, you know, in in particular, it's not just happening though. With those organizations, we're seeing the retailers also activate, and so there's more and more shelf space that's becoming available from the largest retailers in the world, including Costco and WalMart and Kroger. So it's across the board. What we're seeing is that big food is getting very interested in the small guys. So Lauren, what does innovation main in the food space right now considering the fact that you definitely have a packaging innovation to make people feel like you're getting something healthier versus trying to make that ice cream that you eat actually have zero calories in lots of. Protein and save your life and have no problems. So we think about innovation and what we actually called challenger brands in a variety of ways. So it can be the product. It can be the ingredient profile. You know, as an example, we have a product in our portfolio called forcing Matic, which makes mushroom based coffees and powdered beverages, and that is an innovative ingredient profile. Innovation can also come in marketing and packaging and how that product is sort of delivered and communicated to the consumer. And then this third step sort of look at is innovation in terms of distribution and channel strategy. So we're seeing more and more brands look at direct to consumer. We're looking at more brands look at disrupting the office space and going to direct to consumer in that capacity. And so we think about it really in those three buckets, product marketing and distribution. Jordan, you're described as a reformed corporate lawyer, but also you are the kids snack, taste tester, correct? That's your official title there. Okay. One of the companies I believe that you've got something to do with his kid. Fresh, tell us about that and maybe use it as example, how you found it and what your role ends up being where we are thrilled to talk about kids fresh. So something it's important understand is that Lauren and I are the proud Mons of four kids eight and under. And so it's a big part of our thesis is that we are investing in the companies that we are actually putting on the table for our kids, and it's a big part of our philosophy is that the the grocery store is going to look fundamentally different. And so we're really putting our money where our kids now are, you know, for lack of a better phrase, I'm kid fresh was a company. We came across in two thousand sixteen. They were in the market and had great traction. It's a New York-based Brown is a better for you, frozen kids platform. It's really geared towards introducing hidden vegetables and sort of reinventing traditional favorites, like MAC and cheese, and chicken fingers, and you fish sticks and things like that. At the time of our investment in mccone founder had really sort of gotten some great traction. And just as we were investing, he happened to pick up a national partnership with WalMart to complement his target and Kroger and a hold business. So we really enjoyed working with Matt over the past two years is he's been scaling really quickly and certainly has found himself in a great position right now where everyone's thinking about innovation and kids platforms and who's going to be sort of the the going forward leader and frozen. Obviously, one of the hottest categories now, but it's also in these are traditional foods that people, you know, all cross America or eating this is just a better for you version. And I will say as a working mother, myself of two young children, one of the big challenges is making sure that you actually have something on the table at night. I mean, I'm sorry, but it's much more basic than just having something healthy sometimes and it's not just in frozen meal solutions. We're investing heavily into kids beverages. We think that right now is the time is ripe for innovation on shelf where we just made a big investment in two kids. Water play you in for us. It's a box water. That's almost like it's an essence water for kids. And so it was launching ten thousand doors this summer, and it's an alternative to some of the new sort of more traditional players that we've seen like the Capri Suns in the market. But you know, for us, the idea that we're now going to have an offering for kids where it's a no sugar alternative is pretty powerful. I was definitely the bad mom who brought Capri sun for. So I'm going to confess my guilt, Lauren. I do want to just get your thoughts on when you have a smaller company. Scaling up in food businesses is traditionally very difficult. How do you help with that? So we think about ourselves as dot connectors. And what we like to do is help connect the dots for these brands between the resources they need in the industry. It's the relationships. It's the retailers, distributors, the strategic who may someday be their exit partners, and we create those relationships early and deeply as these brands grow. But that being said, I think there's more. More sort of resources out there for brands to scale up. A lot of them are working with outsource manufacturers co Packers, and there's a lot of support from the retailers out there who are looking to bring these innovative products to shelf. And so it's a very exciting time. I think to be a food entrepreneur and not to mention how receptive I think consumers are today to to new healthy brands just to quickly Jordan, give you twenty seconds. What is the biggest thing that you've learned working together about the whole process of investing and then seeing it through to production instead? It's a wild ride. I think that you know, listen for us, Lauren and I are are entrepreneurs ourselves. Then we look at excel. We started only a couple years ago and things have changed dramatically over the past couple of years. It's really important that people around you that challenge you and make you think critically about your business, but also to really be able to rely on that you trust them. And so we think of ourselves as a partner for our founders that it's a real brand trust and you know, it's a different type of partnership. Aren't gonna leave it there, but I wanna. Thank you. Very much a Jordan gas bar, managing partner and Loren Jupiter co, founder and managing partner of the venture capital fund Axelle foods. Thanks for listening to the Bloomberg peon l. podcast. You can subscribe and listen to interviews at apple podcasts soundcloud or whatever podcast platform you prefer. I'm Pimm FOX. I'm on Twitter at Pimm FOX. I'm on Twitter at Lisa Abramowicz one before the podcast. You can always catch us worldwide on Bloomberg radio. Hi, I'm Elizabeth banks and teamed up with State Street global advisors to uncover the bold moves mid cap companies make to thrive and survive, subscribe to our podcast and searched crazy enough to work to watch our films global advisors funds distributors, LLC.

Tesla Elon Musk Bloomberg SEC David Kula Lisa Abramowicz Cisco founder and chief executive of founder securities and Exchange Commis Elizabeth banks Lauren John John Chambers Pimm FOX John Wilson Elon Musk founder and CEO head of research harassment
Yahoo Finance Presents: Neri Chambers

Yahoo Finance Presents

19:09 min | 1 year ago

Yahoo Finance Presents: Neri Chambers

"All right. Welcome to Yahoo Finance presents I'm Brian Sasi and we have we're GonNa have a quite the interesting chat today to tech heavyweights to say the very least joining me right now is J. C. Two ventures founder Mr John Chambers, and we have HP CEO Mr Antonio Neri good to speak with you. Both definitely ought to tech titans here. John let me start with you. We talked about good to see you by the way they just young. We've talked you want one of my last interviews inside of our big beautiful studios in new. York City. And that was march and you said we would be in the current Kovic situation for twelve to eighteen months in and I was surprised because I've always known you as a sunny upbeat guy. So that really took me by surprise where we at right now in dealing with covid nineteen and how long do you think this will ultimately extend We all I've been through six economic downturns now, they always last longer thank in or deeper than you. Thank. You hope for the optimistic but you prepare for the challenges When we said it would last well into two thousand, twenty, one you and I both hoped it was wrong but unfortunately, it it turned out to be very accurate and I think the businesses who position that companies that way and the startups who position their companies with APP ZERO ABC planning came through it will I think that's pretty much where we are I. Think we're optimistic that you'll see I turn up in terms of the virus. Capability Therapeutical drugs. Hope we back by the end of the year, but we survey the CIO's not seen the surveys most of them. Now believe it will be twelve to twenty four months impact, which means that's what they're spending patterns will be as well. So unfortunately, I, think it's play not to be a little bit longer the business if you have opportunities that can really change the economic business call savings. Now, rather than focused on growth for customers then those startups in those large companies are doing well. I Antonio's John doesn't have that statement anymore on those earnings calls, but you but you beautiful. What are you seeing your business right now has the. We have we did see a little bit of a recovery in May and June what are you seeing? Your Business. Well first of all, obviously we're going through this pandemic, which is is creating an enormous amount of uncertainty in the marketplace and obviously a huge impact of the site as a hall. our approach was the first to protect employees giving them the tools to work from home and make sure they are safe You know the first half of two thousand twenty was all about the disruptions supply chain and now obviously is going to be all about what we see in the demand in the marketplace. But I will say so far that my husband's steady with ups and downs where we see a significant pockets of strength in eighty S, we of the customers understand that need to invest this by the pandemic thinks like the cloud expedience deployed everywhere we're GonNa live in much more distributed enterprise than ever before the the workforce of the future will change dramatically. and. So distributed model needs to be supported by technologies that accelerate the digital transformation. So anything associated with virtual desktop. Connectivity of security, we? See. Significant strength in the air was significant. Strength is also data. Data analytics because obviously when you go through the pandemic and I refer this in my blog in the world economic forum it was crazy that people were just shitting data through spreadsheets and we have an enormous amount of data and we need to extract. Value from that data and so anything's where they I must learned with. Can Strings. So that's what we see at this point in time but obviously is going to be dependent to exactly what John said what? It looks like we subscribe to a U. shape recovery. The question Brian is how far the two sides of the US and held deep the US. Can Point Brian and Antonio have worked together very closely on strategic ships and I think that's a a trend for the future with large high tech companies, partnering start ups both Innovating Fast together the neither one can do by themselves but out of the eighteen startups I've invested in all of them leveled out on their business and now are slowly starting up. So if things continue, that's a very positive trend for the future while several of them were in free fall in March and April you can imagine. John it seems as though a whole five years of tech innovation has been stuffed down the throats of many companies within three or four months. What does that mean for the next year in tech? We all I. Think it means a number of things. I is every company is going to become a digital tech company does matter if you're manufacturing banking broadcast etcetera. The speed is going to be accelerated dramatically on it. It also means the failure rates are going to be accelerated and the ability to break away. So Ryan you and I've talked about probably forty percent of the fortune five hundred disappearing the next decade. It's probably going to be closer to fifty and unfortunately going to see a number of those continue just in the next year or two same thing with startups seventy percent disappearing over the. Next decade you're probably going to see dramatic acceleration in the next year or two startups felling as well. But this is where the big companies who really survive break away and that's why I like Antonio Strategy about the five G. moving to the edge on it, and it's where startups all of a sudden become the next year, and if you will the next Google or the next facebook or the next Microsoft or the next HP or Cisco. Within. that. So it's a chance to break away how well a company navigates through the downturns really determine their future more than how will be navigate through the terms and tear Antoni recently wrote a really interesting. He's now you're you lead the World Economic Forum CEO. Champions Group on digital transformation. You're calling you see the information age is in fact over and now replacing that is the great reset. What is the grease? Well. The greater said is something that the. Forum has been discussing now for the last few months the pandemic is is created a new normal and obviously the mission Warren economic photos to improve societies, and we as a company have a clear purpose in life is the way people live and work, and so we need to take advantage of a very unfortunate event like the. To reset companies and governments and society work together and take advantage of the digital technologies that we have been developing for the last few years announced deliberate that transition as quickly as possible at the same time in a sustainable way, and then make sure we don't create the digital divide because obviously. As we think about the events of the last couple of months is important that we do is in a very inclusive and and the more creative way. So for US I'm super proud to lead that. Co Champions Forum because there is a law thought leadership in the sense that there's a lower capital to put a work obviously to John's point, the stuffed up plays a huge role, but also companies like us have a moral and leadership obliteration to lead these big transformation three years ago said Brian that the enterprise of the future will be Edge Center, club naval in data driven edges where we live and work. Here we are. You're working from home. So John and I have in this call but the future scared now is no longer the future right and in order to. Open operate. In this future, we have to really adopt this new technologies and that's why we have not only a technology responsibility but also leadership responsibility. John Tony Mentions the digital divide and I think we one of the things that have really surfaced during the pandemic is that there are haves and have-nots. We have people trying to use Wi fi from McDonald's restaurant inside of a parking lot. Clearly that's that's not okay. Now, that's not right. How do you close that divide? But I think you need a national digital policy and whether you're Democrat Republican or independent, we ought to be pushing all of our leaders for digital architecture as a country and say, how do we become the most advanced and providing that to our citizens if we don't move the digital agenda and you're clearly francis done and brand new and APP talk about Macron's done. So effectively in India's done remarkably well on the consumer confidence sideboard discussion India was one of the most optimistic on nations in the. World, in terms of their consumer confidence in it ties back in my opinion largely prime minister's Modi's decision about a digital India, digital manufacturing digital cities, and they have the best broadband architecture in the world probably seven times the capacity of the US and it's one of the reasons they're navigating through this terrible challenges. So effectively, we need to do the same thing in this country where we think about five G., we think about the best infrastructure for every person regardless of their economic status geographic location accenture. And we need to focus space she on the central part of the nation, the southeast with more start ups, more digital architectures, etc. so I'd like to see the governor's through the same thing in terms of implementation and Education Brian also has to change not just K. through twelve in this digital world. But also with the universities focusing more on outcomes as opposed to spatially as Asian in a degree such as law or Engineering John Beurre you're a part of George W Bush's National Infrastructure Advisory Council how would you advise? Potential President Joe Biden, what do we need to do on infrastructure and what can? What can be done pretty quickly to improve our infrastructure from a tech perspective. We'll whether it's a either one of the political candidates. Democrat of the Republican side, my advice would be the same I. Think we need to write a press release for what we looked like the end of the next four years we get very aggressive in terms of what that architecture looks like. We move back to not only be in the most connected country in the world which we were ten years ago in ten years ago, we were the best startup country in the world. We're the most conclusive company in the world in terms of our GDP growth the average household growing by in the ninety S. And early, two, thousand by twenty, four, twenty, five percent per capita income. In a decade, we need to set those very aggressive goals and then we need to execute to Antonio's point it needs to be business and government in the citizens working together where the new definition of capitalism as you could economic return for your shareholders but you also really take into consideration the benefit to society you bring. Antonio how would you close that digital divide? The Way I think about Brian is simple. You know hundred, hundred, fifty years ago we said you know everybody should get access to water electricity to me connectivity essential service today, and we have to think the same way you know and everybody that needs to get access because if you don't you, you're left behind and so in this digital economy getting access to secure connectivity is going to be essential like Walter An. Electronic, and so this is way our John's point is we have to work together with governments and establish a long term agenda way are basically the policies are sustainable. In the way we deliver the services, these essential services to all citizens of the Globe and that to me is a way to close the digital divide that today we experienced in many parts of the world and even hit in the United States for them either. In Tony just hearing that sounds as though. A civil rights, civil rights issue in many respects I believe. So it is because you know listen when was studying electronics and twenty five years ago you know I was I was you know to me get an access to books was through making photocopies in in in my city it was not available to me digital and not even hardcopy for them. So it was a hard hard way to learn, and now we need to give our kids of next generation portrait to succeed in the future. We'll have to get both your thoughts John. I'll start with you here. What is corporate? America Look Black Post pandemic. I think America Post pandemic is going to be very unique. I think the large companies will probably not add headcount over the next decade because of artificial intelligence and productivity grows. Hopefully corporate America becomes a much more innovative. Corporate America. where the large companies work with the ups where a lot of the young graduates from schools want to go to the start ups and startups thanked ten years in terms of their investment return for their shareholders. So I think corporate America would be more innovative, will move faster in terms of the approach and I think the landscape when you listen top companies five years from now ten years from now based on how they navigate through the s they're going to be a lot of names that you wouldn't even recognize the day on that list and some big names are going to be missing. So you disrupt to you get disrupted. I think those companies who don't move much faster to digital get left behind. Antonio, what is what is HP look like how do you transform your company? Inside of a pandemic, which in many respects and may be with us for the next three, four, five, ten years. Well we have been going through a what I called the largest transformation in corporate America. My predecessor took some bold moves to split the company and the refocused the business in areas where we can compete and win and that that was the foundation by which took over and and we have been going through our own transformation to become the age cloud platform service company as earlier. Right. The Enterprise of the future will be way more disturbances. So having that secure connectivity and bringing the cloud, the expense for all your absa data is absolutely essential. That's why I love the punisher with John's startup because we have a common vision aimed technologies to deliver against vision so. For US HP will be a total different company sustained by clear purpose in corporate values that I'm really proud of it because our our corporate beliefs are for invincible symbol number one we believe in isolating what is next number two we believe in Bald Moose and we have taken some ball decisions for the long term sustainable profitable growth of the company number three in the power of yes. We can put in the week before the I and number four being a force for good and we sustain that with innovation and customer simplicity, and then ultimately you know reflecting the fact that Hewlett Packard enterprise was the founder Silicon Valley and we can continue to play a significant role. In driving that innovations, customers need in the next decade into your point, I believe the next is all about and the age of insights and more focused on delivering combs through technology. Nas Technology for the sake of technology. You know before we wrap up Antonio be remiss not estimate. How are you feeling You've recently battled nineteen How're you doing look fine to me but are you're the one that went through? No. Thank you for asking I'm feeling awesome It has been an interesting experience because obviously we we all talk about the pandemic. But when you live at personally gives you a complete different perspective I went through two weeks. Like every everyone that's infected you know obviously, you go through the faces of fever and by the aches in some respiratory challenges that they didn't have those. But the good news have in the antibodies Brian. So I'm I'm somewhat protected in many ways, but actually for me, how important is to find the cure for these these diseases and these were HP has made a significant contribution by making. R. high-performance computer systems in our AI solutions as well as a patents, we made available all apartments available to the research institutions to operate. The. Cure. Officer to the vaccine and therapy therapeutic solutions in the meantime. That's great to hear I'm glad you're doing ok Johnny LS to you. You know has the pandemic made you rethink how you build further build out your portfolio I remember when you first launch your portfolio it amazes me still you have all these companies. Now are you going to pivot more into healthcare focused ventures? I'm in terms of corporate social responsibility focused on healthcare corporate ventures but that's more me giving to issues like the Rockefeller Institute and West Virginia working on Covid ring that will anticipate the capability to tell somebody they're coming down with the virus thirty six to seventy two hours ahead of time and actually tracks. So that somebody like Antonio, the does get sick those that might hit this. Cliff very quickly and should be headed to the emergency room well, before the symptoms show up on it or the ability to filter the air so that you can eliminate most of the virus. In the airport capabilities but no I think it goes back to Brian. I'm probably more excited by now about how technology would change our lives mainly for the better. And the focus on artificial intelligence than the computing move into the edge Antonio's kind enough to partner. So tightly within Sano, one of the startups that really is the core of that. So you'RE GONNA see double down on the big bedside made earlier more committed to ever to bring startups across every state in this country in one last thoughtful. You worried that we're GONNA lose our ability dream we are playing so much defense unclean down. need to realize my parents were doctors taught me did with the world the way it is not the way it wish you as let's dream what is possible what this nation can look five years out how companies can break away how startups complain a different role and how we make this inclusive of all society where summarizing the point that you made. So will every American has access at very affordable rate to very high speed internet? While said John Chambers. I know you're not afraid to dream dream big and to take bold bets there guys J. C.. Two ventures founder John Chambers, and HP. Antonio Neri good to speak with you both stay safe and we'll talk to you soon. Thank you.

Mr John Chambers Mr Antonio Neri Brian Sasi Hewlett Packard United States America John Tony CEO founder HP York City Yahoo CIO ABC India J. C. Two ventures
Ex-Cisco Systems CEO, John Chambers joins Influencers with Andy Serwer

Yahoo Finance Presents

33:56 min | 2 years ago

Ex-Cisco Systems CEO, John Chambers joins Influencers with Andy Serwer

"Innovator die is more than a trite phrase. John Chambers has made it his life's work for a decade chambers ran Internet the hardware giant Cisco Making big acquisitions that drove the company to yearly revenue of nearly fifty billion dollars now he's the CEO over the firm J C two ventures refines companies looking to take on the giants he also advises Indian Prime Minister Modi and French President Macron on how to help startups flourish in their countries. He's here to explain how to relentlessly build companies whether big or small hello I'm Andy Serwer welcome to influencers and welcome to our guest John Chambers who's hosting us here at his home in Silicon Valley John John. This is a great place. Thanks for having in Andy. It's fun to be doing this again together. We've done a number of times over the last twenty years that's right. It's been a while now John. You're no longer longer the chief executive of Cisco that was a good long run twenty years twenty years you now are running a venture fund called JC to tell us about that hat and how is it different from being the CEO Cisco well. It's different in almost every way doing this next chapter in my life I'm focusing on startups job creation inclusion collusion by geography and around the world everything from Finch high-tech Ambassador for Macron to adviser to Prime Minister Modi in in India and I'm focused about how do we create the jobs for the future and eighteen companies I invest in nearly. They're almost like my family and I coached them. In my pride there is when the CEO's re successful on it so thank me more as a strategic partner with a social purpose to create jobs and inclusive jobs much like we we did it Cisco we created ten thousand millionaires as you remember among our employees and with these startups I want to see that type of the American dream. Come true for more and more people than we are today. So how exactly is that different. I mean in terms of what you're doing and the skill set well number one. There were seventy. Five thousand people helped me do my job shop today. It's three of US Shannon my son in me and we're going to see if we can build a billion dollar company with less than ten people but it really is much more of a Strategic Advisor Partner Mentor Coach Investor Board member to them and I talked to my every. CEO Probably two to three times a week. help them figure out. How do they build culture? How do they do go to market approaches so many the startups Cisco for example when public when seventy million in sales important important people today you see companies going public and fifty billion and the majority of their growth may already be over and tens of thousands of people so I liked liked the growth stage I like companies being able to help scale I like walking the CEO and teaching them through the first crisis because as Jack Welsh taught me many years ago so your company will never be great until you've had a near death experience and use leader of deleted through that much like your kids for your viewers? It's it's nice when your kids score soccer goal gets a grade school but it's more important how they handle their first real setback and if you could as a parent you would give that to them so so that they can learn how to get through it. So I'm kind of coaching these companies. I take tremendous pride Adam. I get to pick those companies that I really WanNa work with so it's it's an honor you. It looks so energized I mean maybe even more energize than when you were a Cisco what keeps you going will change the world one more time. I think we did the Internet it Cisco in many ways change the way the world works lives learns ablaze and not a router company but really transformational in our business lives this time I want to change the world in terms of startups where job creation is going to occur and so the billeted outlined a dream that many people think may not be possible and then say how do you do it or inclusive. UC basis. I mean that's rush. The second thing Andy Is. I don't do anything anymore. I don't WanNa do and because I'm not tied any company. I can say what I want and if I don't want to do something passed on it so I'm having the time of my life. It's fun for me. I've always liked playing multiple chess games at the same time and now I'm playing not I just those eighteen. I'm having a unique opportunity in India and Francis well and trying to take the startups all the way through mid America and then southern part of the nation including turning back to my home of West Virginia for job creation. I don't WanNa talk about that but first I want to ask you about. Silicon Valley were here and everything is so fabulous the environment for business and growth so many jobs being created and yet there is another side. There's people who suggest that they're sort of clueless nece here that you know people are not really in touch with reality in terms of some of the companies that are being created. They're not really changing the world that people are just greeting tech for the second ten SEC. Sake tech is silicon valley out of touch. I think part of Silicon Valley is Andy. I've always Batat people when you respond to a tough question answer the question first and then give it a little bit of background. We're here in a garage startup. It isn't exactly exactly the HP garage but it is a garage in Silicon Valley that overlooks the valley and I think that creativity still very much exists here how to mateen companies. He's eight of them are here in Silicon Valley. They're still the American dream of starting a very small company and making a great company however her different than our first two decades together. We're tech was considered for good and you ask anybody anywhere in the US around the world is tech for good or for bad. The answer is for good because we spend as much time giving back finding a way to work with governments in a fair equitable way when there were legitimate concerns earns of citizens our customers we addressed it and we focused on. How did you create a lot more jobs? You destroy and how do you always try to say let's make it equal not perfect perfect but equal regardless of your gender your location anything else and I think the valley has made several mistakes of some of the large companies here getting too far away from the citizens doing what you should never do in my opinion which is lecturing others about how they live their lives or what's important Duma what political candidate the auto back or not and I think that's a danger so I'd like to see the leaders of this next generation of large companies here in the valley. Come together and get get back to that can be very good. But how do we make it inclusive. How do we think about the good society at the same time we think about how the company be successful? I think a different former mic capitalism and a different form of technology capitalism has to happen. I think if we not I said this a year and a half ago government will regulate and anti antitrust will come and here we are you and a half later this coming so it's a tug of war there still a lot of good people here that really make a difference Mark Beeney all fit it sells for us and giving back in a huge way a lot of startups at technet the John. We're not founded give back but I think the large companies have to be very much aware at their current image is one that is not good and when that happens people lose trust in you and your currencies day or very simple. It's track record heard relationships interest as you said John. Washington is now stirring. You're you're seeing the Justice Department in Congress Congress at least beginning perhaps to take up the issue of going after the big tech companies which in this case now are are Google and Amazon and apple and facebook. Do you think that they do have legitimate concerns and we'll be able to address the problems. Yeah I think you you mentioned a number of companies. Each one has different strengths and perhaps limitations but it was interesting both the Democrats and Republicans they can started telling us two years ago if you don't change government will regulate take action and we have legitimate concerns. You've got to address and they didn't want to address it. They said it's better if the company's change when the companies didn't change or change way too slowly there. There's a problem so the classic rules when you have a major crisis or issue coming at you. I don't hide be visible. Visible to all constituencies secondly be very realistic how much it was self inflicted. How much was the market as a whole and express it in simple to understand terms third paint the picture where you're going to go how you're going to get there? What are the milestones Estonians along the way forth as you go through this give regular reports on that and then go to each of the constituencies your shareholders your customers? Your employees lease the citizens the government leaders and share with them what you're going to do during the two decades that Iran Cisco we had zero issues with governments around the world. It doesn't mean that we're in tough off issues snow as an example and trust in the Internet and and Cisco navigated through that remarkably well but tech is a whole dead and we'd meet with European opean regulators regularly and say what are these you face. How do we work together in the same thing? Even in countries like China or Russia so I think there there are things from the the past that the current companies can learn from and it starts with I think always thinking about the implications of your decisions on the rest of the nation the rest of the world and are we really moving forward and improving society as we do I wanna ask you you mentioned the global footprint of Cisco and ask you about one competitor's which is wa Wa and the situation that that company finds itself in an versus the US government. What is your take on that we all? I want to remind everybody's everybody's listening. I have relationships with Cisco at all now. I'm a unshackled person I've said many years ago and I was one of the I high tech leaders to bet big in China and ninety five right when I became CEO and it was a win win all the way through and often the Chinese government and leaders. I would tough negotiators but would they would always try to find a way we could win together and I think in the last decade that's deteriorated where it's developed into win lose scenario. I think we'll always more the symptom of that in this environment and this is where Cisco went through a scenario with questions we deep gave no unique capability to any government in the world not even our own notably give our source code anybody and it made such a difference and trust and if a company loses that trust and as shown that they have major security issues and if you're gonNA run not not only your your banking system your electrical grid off the Internet etc but everything in your personal lives you've got to know that environment is very very secure and that's got to be a key part and so I think the relationship with China is going to continue to be tough for a while. I personally believe it's both countries best interest interest to work through it and get back to win win but the issues had to be addressed both the security issues and a win win. Mentality can't be win lose in today's World Trade Balance What five hundred and seventy billion one way hundred and forty billion the other fifteen years ago that was like two hundred and one hundred so we you gotta get back to win win and you can't ask one country to do something and not expect the other country to be fair and the exchange re tariffs the right way to address that we'll several my good friends. I've said that at least finally a president is taking the issue on squarely and it surprised me because at dinners with startups larger companies in the valley most of them believe this issue had to be dealt with and I think bringing it the attention it wasn't very gentle landing and we'll see if we get landed but I think it needs to be a firmness and let me ask you just have to ask you about your take on President in trump. I know you were a supporter of John. McCain who is someone who the president did not see eye to eye with and and how would you rate president trump over all them well. You're asking the questions I'm going to dodge one. I'm very smoothly without your viewers. Know dodged that you'll know I'll tell you on the front. John McCain McCain is American hero. I was one of these five National Co chairs what he did for our country and what he tried to always do what he believes is right and meet always agreed with with him and he was willing to cross the AL and I think representative American values all it's good so I I do think he would have made a very good president and somebody that I'm very proud to go a good friend and a true American hero I think today we're divided as a country and yeah I think our leadership both on the Democratic side of the Republic Assad have to bring us back to the Middle America likes to be guided from the middle. Maybe leaning slightly conservative already and I think what you're seeing in this country you see in another countries which is the extremes are controlling law. The politics and I don't think that's the right way. I'm somebody it gets along with Nancy Pelosi and Kevin McCarthy extremely well. I got along amazing anyway with John McCain and Chuck Schumer and I think we need to get back to a nation in that says every decision should be what's right for the country and our country wants to have a better life for our kids then we had an American dreams being lost. Let's go fix that and let's do it together. That's not do it with one extreme having fifty one percent the other forty nine in opposing views of this. Let's do it together just a little more politics that is where do you think that polarization comes from though John is it because of social media certainly social media doesn't help but we're what's the origin I actually think the issue wrestle know US Americans I think as long as we allow the extremes to influence influence our views as long as we try to impose our views on others as opposed to say how do we win together other than I think we will get the extreme views and we're seeing that in other parts of the world so I do think that when you're not able to exchange views win your primary source of information is the people who already agree with you. You've got to create an environment what made America great which is the willingness to really debate on tough issues and then say how do we solve it together. And how do we think about the outcomes in general and back to the issue of business start ups every decision if or jobs they're gonNA come out of startups which they will over this next decade or two large companies headcount because it digitisation artificial intelligence well actually decrease then every every decision we should make should say how do we create jobs. What are the effects on the startups? And how do we do this in an inclusive basis geography gender and other issues. Let me ask you about your upbringing growing up in West Virginia now. You didn't exactly grew up in tough circumstances your family your your dad was a doctor is a doctor right exactly but still you came at them. Both I met him both in two thousand almost twenty years ago so but still you came from. You didn't come from silicon. Valley didn't come from New York from L. A. And yet you ended up being the chief executive of of a great American company is is that dream so live in America. How did you get there well? I think the dream is still alive but I think we need to help and when you really think about growth ruth the direction how I got there. My parents taught me education was equalizer in life then I think the Internet became the second one which allows you to do it connectivity wise and how you get get there on big issues. It's getting market transitions right even Cisco I never competed versus a competitor competed on the transition video going going to the Internet and voice going to the Internet the Internet changing every aspect of our business lives and then saying how to focus on outcomes. I think part of it is also how you treat people. I'm not perfect and my wife reminds me that every day but almost every customer relationship I've ever had or every friendship I've ever had. I can go back to later and they trust me to say how do we work together on it again so I think the thing that contributes his voice built a network of of people that work together and I saw the Transition Square West Virginia was the chemical sooner the world with FMC Carbide and Dupont seven thousand smartest engineers years there were and coal mining industry with one hundred twenty five thousand employees great stain living and I watched US lose our way and then I was in Boston when twenty eight which it used to be the Silicon Valley we couldn't even spell Silicon Valley thought these people out in California a little bit unusual. You know we were so wrong so if you don't change inch if you keep doing the right thing too long if you aren't disrupting you're going to get to trapped get left behind two of a company to of a leader to of a nation and so I think it's so important that we don't lose what America used to be great at which is innovation and a comfort level with disrupting ourselves and thinking how to society as a whole at at the same time. I'm worried about that a lot. We are for the first time in my lifetime not the ten top ten countries on Innovation Number Eleven Gordon's Bloomberg Index. We are for the first time as Americans saying our children probably are not gonna go to lives tweeted. We need to fix that and I think we need to dream a little bit bigger geico dreams and that's why I like John McCain. It's why like Shimon Peres Wildlife Prime Minister Modi his vision of how does he change the lives of one point three billion people and how does he do it inclusively across all twenty nine states and I know him very well. What you see is exactly what you get? I want to ask you. Maybe a little bit more about President mody because some people say he's too much of a nationalistic at sort of fits in with this kind of nationalistic trend going around the globe. Is that the case. Do you think no. It isn't a Prime Minister Modi. He has to win the election so he's like any group. You've got to secure base but remember remember. He won three hundred seats. That's more than he won the last time he had he will increase the standard of living of the average citizen in the doubling elbowing every seven to ten years even after he won instead of saying here's where we're GONNA go. He said I'm GonNa make this inclusive for all people in India. Every moment of my life is about making this country successful and it to do an inclusive inclusive across all the groups and know him very well very well. He does his own vision and strategy. He is a tremendous campaigner and he loves. It isn't something that doesn't enjoy but I think he will position India for the next twenty five years and accomplish economically and with a balance of society what Gandhi did many years ago and the formation of India so I believe you've prime minister. Modi is one of the top three leaders I've ever met in my life and I've met them all and and I think he has a chance not just to be a role model for India one point three billion people but for the rest of the world and I think you will see India lead more and more on a basis. They're very lucky to have him in India but I think he will be inclusive not divisive in terms of the country's direction and what about macron. How did you get connected? What are you seeing him? Well you know I'm a moderate Republican and they'd call me liberal social issues I just got in touch but President Clinton many years ago got the impact of the Internet and I was just about to become CEO at Cisco and and I'm in the White House talking about the Internet and on a major announcement about America focus on the Internet he grasped that it can Change Society Eddie and created twenty two and a half million jobs for the next eight years last time America got a raise sustainable race twenty four percent growth in the average American families income during the decade and our GDP route thirty four percent. He grasped how you tie the two together other in France that was similar. I didn't think I would be particularly interested in socialist government and the French were wonderful. People great place to to have a romantic weekend with your wife life great food but not where you'd locate business jobs creation and even though the invented the world entrepreneur they've gotten away from that and boy was how wrong Ah Alon grasp how could be changed macron was he's economic minister at the time and we actually taught classes together at Mba the schools have about startups and how do you do it and so I got to watch the man and how he thinks and he was kind enough to share with me will before we publicly announced that he was probably going to run and asked that I think he would win. I said absolutely he was a little bit surprised by how decisive I said you're the only outsider running down the and outsiders are winning and I think France is ready for change and you could see it and so his vision of startup France in an inclusive France there air startups venture capital backed going from an average of one hundred and forty a year to seven hundred and forty at a time the US is dropping and so we share a common dream mm-hmm and I thought originally that would be the UK or Germany that would lead innovation it is France and it's like anything very often and when you try to make change all their natural antibodies on both extremes come out and challenge you moody saw that in the first couple years of his his leadership and you clearly Seoul the most inclusive landslide victory that I can remember in India and I think barring a huge surprise will look back at his leadership and say it it really changed Indiana Indiana very positive way not for ten years but for decades macron has the same potential hurdles a little bit bigger in terms of the challenges that he faces including the exclusiveness but I think he's a good man and I think he's he's doing the right thing so I met him. Because of a common vision of the future of France are there any American politicians that you feel so sanguine about their only a few and very few in terms of future president instead I look at I'm pretty good about even fell into Chinese leaders of measles charts and say news emerging and who's emerging Europe and the others. I think there's some really superstars that I like to like like Rob Portman of Ohio accenture but I don't see a candidate yet that is emerging really over this next decade. Bring our country back together. My Dad always taught me to both be optimistic. which I am the second each time America's need to change we found a way to come together and to do that inside like to to really challenge our leaders on the left and the right to come together and let's focus on one America and we as voters will always have divisiveness as long as we allow the divisiveness to force us to the extremes and the American people say we want somebody in the middle? We want an inclusive win win type of environment going forward. UCLA leaders change streaming too much. I don't think so what's that I'm I'm sorry maybe it's dreaming too much. I don't I hope not let me ask you about G C to a little bit switching back to that. What sectors are you looking to invest in and and was sectors? Are you looking to avoid John. I well the exciting thing about the Internet is that had a lot of effect on many sectors but they were kinda stage. The first one is to go retail and finance aunts and government and healthcare at the back end now. All the industries are moving with digitisation artificial intelligence very rapidly every industry segment statement including government is going to be disrupted open. Transparent government is very much there and so you see me I across the board. I'm trying to do everything from cybersecurity. Six companies are in the cyber security area including a degrom capability that can spot drones at airports and protect society on my house. I'M GONNA no fly zone here fed five hundred eighty drones in the last nine months Komo her house Z. detected that detected it. WHO's flying accenture Shane question? Do you know what our property rights in terms of how much airspace Jason Individual property owner has no. I don't but it's probably under a hundred feet. You're not supposed to go below but the major thing is these no fly zones in the park has his will so it's a complete no fly zone. It isn't my house. We're just surrounded by parks in terms of the direction probably the only secure phone in the world's May company provider. You're a union. If you watch what they've done they built a secure phone capability or apple or your android phone can go into a sleeve and you can truly take it in the most secure environments in the world. Probably the only win this nation state. I think you'll see it'd be the trend within it voice recognition. I said we S- was it's going to be dead in commodities and technology it actually is the best form of authentication social media with a company called Sprinkler which anticipates customer customer expectations way ahead of actually occurring to really hot companies spark ignition down in Texas very innovative ah great CEO and Amir Gustavo out of a company called. I can't even find it listed stealth company but they did two million Rian two years ago sixty million last year ago waiver sixty million this year so excited about that and I'm still trying to solve major global issues such which is world hunger some into crickets for protein and it's really Internet of things big data analytics robotics that that mind the crickets search your kids and grandkids will love it and it's the cleanest form of protein at one tenth the environmental impact of meat or plants have in creating the same type of broaching Nui Louis crickets crickets fact. We have a couple of years you want a job. That's okay quite ready for I see people eating them. Though well what it is is is is what form your protein comes in our body just digest animal protein easier does planned and you can grow them so much cleaner and so so fast that it could not only solve world hunger but B B Unique Cezanne's rest stripe here we did have seven course creek dinner and it's it it extremely well and we took one of your colleagues to witness though we'd need so everything from Creek Margaritas to cricket T- to cricket protein with the battery etc really fine but it really was proven a point you when you try to do things that others might consider crazier stretch too far. You've got to make a practical so that we all I understand it all right. You're going to have to convert me but let me ask you a little bit about startups and capital and concentrations of wealth in this country as we've got that Silicon Valley Got New York obviously stuff in Austin a little bit medical stuff in Boston. Still how do we spread the wealth around more Internet uh-huh startups just in terms of opportunities so Steve Case for instances. Some Steve's been doing a very good job trying to bring this to individual cities. I'm approaching a little bit differently trying to feed off the universities where you'll find out of one hundred and eighty companies bought probably forty percent of them. We're not good at Stanford and and even though we have great university across the way four times the number of students at University California-berkeley. I didn't buy one startup out of there so you've got to have an entrepreneurial environment environment that really is focused on starts. You gotTA teach that in terms of the schools and directions so I think it starts with the university's then it starts with. How do we make inclusive? We've got a knock down the regulations. The regulations on startups are disaster. What's the problem with regulations for startups? We'll merely to comply with Sarbanes Doc Sleep Without Peo- capabilities a twenty million dollar price hike and that's why companies often wait very long to go public and the miniature public all of a sudden you have shareholder activists telling you how to run Renier Company. I believe in two classes stock now. I wouldn't have said five years ago yeah because you want the company making the right decision for three to five years out the markets tend to be short term focus focus but I think the major issue is the average American and I was reading the other day where millennials we have eight thousand dollars in savings and about the time that you're paying off your student student loan and you're in your early thirties your sunny thinking about your kids. Can you afford to send them to college and so they don't have the opportunity to Invest Austin startup so I'd like to see us address that and perhaps we even put put a freeze for when you start up and creating jobs on your student loan payments mm-hmm and send interest that goes with creative ideas but I think it starts with the university's changing the curriculum focused and not ownership knocking down the silos in dreaming what can be Don. We're going to try to do that in West Virginia University Gordon up there is amazing but we have both the Senate and the House in West Virginia and the governor committed the Democratic Senator Joe Manchin the Republicans showing more capital also saying how we do this will bring in venture capital. WE'RE GONNA dream and say. Can we do this across our country. I think we have pro-choice if we don't you see today's voting extremes get much worse on both sides America's should have a right for a great job and a chance to have a better life than their their parents. Let me ask you then to follow up a little bit about regulation and the Securities and Exchange Commission those need to be reformed. I think so but I think you also need to two. I think the number one way is you need to focus on every decision should understand the implications for startups and very often privacy's as an example which I'm more European than I am American in terms of the importance on privacy protection even with their. GDP are their privacy rules. The big companies companies didn't really get hurt. It was a small companies. They're all of a sudden couldn't afford it so we've got to thank every time we make a decision. What's the impact on job creation especially start ups and small small companies getting bigger and we've got to set a goal? This country is great about setting goals and achieving. What other country do we ought to set a goal again to become the startup nation of world the most inclusive nation the world not the most divisive in terms of the approach and how do we do this crossed all fifty states and how to every decision we make moves disclosures dot com dreaming perhaps but eighteen startups many people were John if you get two or three hundred successful? That's what venture capitals about I I would leave the vast majority of chance to be successful and create a lot of jobs are measured them by do they create fifty percent growth and jobs for you and each of these companies and in do we share the success of the company with employees. They're gonNA hear one of those drones out there. I think that's a rather loud so last question on let me ask you about how you see using your influence on the world presumably for good but what what did you think that you can achieve. I think those parents and you met both of them. We talked about it. Earlier taught me that those that are most successful in like in life or an obligation to give back. I believe that it's not only just the right thing to do and make you feel good. It's real good for businesses will so if I have a chance to help change the world to help in some small way help bring peace in the Middle East and I've done that with Shimon Peres during his lifetime and focus on Palestine and Jordan and throughout the region if I have a chance to influence startups and create more jobs if I have a chance to our nation lead in the innovation again across all fifty states that be something that I think would be pretty cool and that's what I tried to do in this book that I've got a signed copy for you. Connecting the DOTS is say how do we give back. I'd like to play a role in helping countries and businesses around the world do this an inclusive basis and so to do that would be Kinda cool cool and by the way if I do that also be successful financially John Chambers. Thank you very much for your time and thanks for having us here and it's a pleasure I would love to be together in ten years looking back Akkad this next decade and see how much we talked about. Today actually happens what we talked about twenty years ago. Most of it did happen and I love the way you think and you ask challenging questions. You made me think about the values directions but it's a joy to be on your show. Thank you thank you look forward to that ten years from now that's influencers. I'm Andy Serwer will see you next time. Thanks for listening to influencers. Don't forget to rate review in subscribe on Apple podcasts or wherever you get your podcasts and follow Yahoo Finance on twitter

Cisco John John America India CEO president Silicon Valley Andy Serwer Prime Minister Modi John McCain US West Virginia John Chambers President Macron Shimon Peres soccer prime minister France chief executive
Former Cisco CEO John Chambers

Recode Decode

58:17 min | 3 years ago

Former Cisco CEO John Chambers

"Mhm. Today's show is brought to you by ZipRecruiter, which is the presenting sponsor of Rico decode. You know, it's not smart. Forgetting to register to vote. Go do that right now. You know, what is smart hiring? ZipRecruiter, ZipRecruiter's powerful technology finds people with the right experience for your job and actively invites them to apply. So you get qualified candidates fast. That's why ZipRecruiter is rated number one by employers in the US based on trust pilot rating of hiring sites with over a thousand reviews. Now, our listeners can try it for free at ZipRecruiter dot com. Slash decode. Support for this podcast in the following message comes from smart water, not satisfied being like other brands. Smart water looked up at the clouds and said, I wonder if we can one up mother nature for a pure crisper water and guess what? They did smart water vapor, distilled repeatedly electrolytes for taste. Hi CARA. Swisher editor at large Recode. You may know me as the person who just taught thousands of people that Cisco is named after San Francisco. But in my spare time, I talked tech and you're listening to Rico decode from the vox media podcast network today in the red chair, someone I've known very long time, John Chambers, the former CEO and chairman of Cisco. He worked there for twenty six years stepping down as executive chairman just last year in two thousand seventeen. He's also the author of a new book called connecting the dots leadership lessons in a startup world. John welcome to Recode deco curious, supplies should be with you again. Thank you. You've been on stage with me at all things. D I think was when we were doing that and many times voice would be free free. Right. That's right. That ten years ago. Is that right? So let's talk a little bit about what year. Let's give your background for people who don't know you. You ran Cisco, which was one of the most important companies. I think we met during AOL days member when they had that outage and blamed it on your. Yes, blamed it on Cisco will. It's like any outage union. A company can do with their mistakes and step up to it, and we sold the problems. And oddly enough, the customers who support you the best are usually the ones that have had problems that you work through. So great partner out because we talked for my book on AOL just talk about. We were at Cisco for twenty six years. Talking about that for people who don't understand what that was real. It was Russia was going to give you just a little bit of background in total west sorted straight out of school after about nine and a half years in college, a slow learner, if you will, went to abbey 'em, saw saw the mainframe air, and then as mainframes gave way too many computers, I was weighing laboratories, and then as many hit and went to PC's and the internet, I went to Cisco. So I've had the chance to see all the major technology trends and then going into today's world from the internet to the digital world artificial intelligence. It CISCO's Arash joining the company when it had seventy million sales and four hundred people. And in growing the company would agree. Start from very simple terms that allowed networks to be able to talk to each other primarily in universities, etc. And it's really the geeks that's where that was happening. The internet was happening. Exactly. And what I saw at Cisco was a chance to make this mainline. And when we said Cisco and the internet would change the way the world works lives, learn some lays early nineties. People thought we were out in left field as turned out it did you were making the slain, what you in a very simple way, what you all made. It allows the the, it's the backbone, it's the stoplights, the move data around the world to get your data from wherever you started to. It ends up in the right location. And then we moved from just making a backbone, the routers into switching, did acquisitions in Silicon Valley. We were the ones that wrote the text book on how to do aquisitions. Then we moved into voice over the internet and video over the net then at the data center then in discouraging Claverie. And so it was an honor being part of growing the. Company from seventy million in sales to forty eight billion for people to about seventy five thousand people. We won most of the top financial words in terms of market capitalisation, ensuring that with employees and also the top corporate social responsibility awards from Cisco did though was really it was sort of the quieter member like the big companies like Yahoo and eventually Google and others got all the attention because they were the consumer facing. This is go really was the background. We were the ones that made a work for business and we were business focused on it and for a brief time where you the most valuable company in the world, and we took technology and said, here's how it's going to change the way you work live, learn and play, and and we had a blast doing. So you did how many acquisitions over the course. One hundred and eighty honored to be a lot of the textbooks written about it. Oracle would say they model their position motto after us, and now acquisitions are logical way to grow cares. You know, back in the ninety s almost all failed. So we. How are we going to do it differently? And we begin to do something that refers to little bit that I'm trying to teach now is get a replicator innovation playbook for anything you do, whether it's how you do acquisitions and steady and while most of them feel and what are you going to differently? How you digitize a country, how your number one or number two and every product or you go into eighteen major products? No companies ever done that before since low barriers to entry. And we had a lot of fun doing it. There's also substitute as you know, being in this industry for number of years, it being in the right spot at the right time, right? Excuse managers, where's this go? Now what I mean? Obviously you tried, you moved into voice. You moved into video and different things like that. You also tried to move into media that didn't work that didn't work quite as well, that some of the media stuff you all the German. There was so many products. It's just pad that that well, yes, and by the way, what Cisco does and in one of the important things on the transition to the new leadership is I watched while most of these companies failed. Leadership and the co. These the CEO who brought him from a very small company to a very large company has to be very careful in the transition next leader. And as you know, the industry's littered most almond failed. And so when we decided to make that transition at Cisco, we said, we want to do this in a way. Others have not. We wanted it to be a Harvard casebook steady. We were to close to Stanford people to sit home cooking, and it was saying we did a very smooth transition. But part of it was also one set nj. She was over to give the reins to new leadership and to step away, and it's their company to run in. So I delivered have not been involved in that, and I really don't comment in terms of where the companies talk about that transition for you because you weren't Cisco pretty much if you will honor because I heard every everyone, except Twenty-three people in the company. We moved from a single product company to eighteen products created ten thousand millionaires in the valley back when a million, which really a million goodbye. Your house and right, Allie. Accenture, and we will requirement it. Forced small apartment and we, we went every corporate social responsibility award. To move from that thought about over ten years because leaving for a while, I remember we'll not leaving for a while, but knowing that I needed to turn over two point in time, and I kept saying I'll be your five more years, five more years and this on the three to four. And that was a clear message. And I left it three years almost on on the moment and it's like your family. We are a family at Cisco, new areola Severi employees, their spouses, their children. We worked together as a common team. We were fearless. No-one really beat us if you rethink about router competitors, switching competitors, etc. We still or the key leader in forty to seventy percent market share in each category and then moved to new areas. But we wanted to make this transition work and we wanna do it different than others. So I thought about it for ten years and the board obviously made the call, but we set it up as being an example for others to learn from. And if you think that that companies have done this almost all Christian burned when sideways, what have you been doing since that and what is. I've been having the time of my life. It's when you step back before that, but step back about two and a half years ago. Right, right. And so since then I've been entirely focused on the start up world you in the time. Did you do this thing before? No, but I did it Cisco. We do two point one million dollars companies. We wear two hundred and eighty companies. It was one of the key ways that we grew right was re keeping our fingers on technology. What were you looking in startups, you have your own fund or what? I have my own fund and Shannon who's here with me, the chief of staff, it's a magnificent company with free people. So going from seventy five thousand people supporting you three as a culture shock, the what it really is focused on is where's the world going up where it's been and it's focused on how do we become a startup nation again, it's focused on, we think we're the leader of innovation in America. We know long. Our Bloomberg would not even the top ten countries anymore. We're decreasing the number startup sprig gear and twenty year low. France where three years ago I said it's going to be the startup nation in Europe. It went from one hundred forty venture capital back startup technology companies to seven hundred and forty in three years. It's become the model for Europe. I wanna see that happen again in the US and with digitisation and with a lot that's going on the hat tech. We're going to destroy twenty to forty percent of the jobs that exist everywhere in the world. So we've not only got two in the US, create twenty to thirty more million jobs. We've got to create more jobs for the ones we destroyed. So we have to become a startup nation. Again, let's get dinner because it just the cover of the economist. Let's because peak Silicon Valley that it was losing. People are going elsewhere. We'll get to the politics problem. You know in that because that's part of all issue. Easy to come. But but talk about the concept of your book is that we have lost this that the concept that we've not that anymore think we are no longer the leaders, but the concept of the book is how do you lead in a startup world? And it doesn't matter if you're in the largest companies in the world, like a WalMart or a Boeing, or j. p. Morgan Chase or small startup, or leader named is categories you have to think more like a startup in terms of like, why do you think we've lost that? Because people think of Silicon Valley and the US is a startup culture of entrepreneurship. The greatest companies were started here from six question. The answer is we kept doing the right thing too long. We ensued we were entitled to continue to lead in Silicon Valley in this nation. I'm out of Boston when twenty eight the interstate that goes around Boston. We were the hot takes into the world. We couldn't even spell Silicon Valley in the eighties and within two decades. So in any any major high tech companies there anymore. Same thing could happen to Silicon Valley. So the first thing. Is we kept doing the right thing too long. Does that mean that means we continue to think that we were the innovators and didn't realize that the global landscape was changing rapidly and that to be a innovation leader in startups. It's got to be inclusive across your whole country not just and Silicon Valley, Austin, Texas New York. It also means the government has to get out of the way, and we got so much put on us. I'm I'm a West Virginia, my background, most people have never hunted. Frogs caught. Frogs are eight frogs, but what you said he in schools, you put a frog into a warm pot of water, and you slowly turn up the temperature. The frog cooks, if you put them into the bullying pot of water at the jump right out, the rest of the world is jumping out to a new level of innovation. They're setting Dacia goals of digitisation for their country. Doesn't matter if it's India with prime minister Mody mccrone in France, and they're setting startup innovation is a key plank and they address it from everything from immigration to how they remove regulation issues, and they're moving into speed much faster than the US and never. That I would see this happen in my lifetime. I understood the concepts of Silicon Valley at Texas and New York, and the challenges get into cross the country, but I never felt the US would lose his leadership this fast. So I think we've got to make it a national priority. We're the only country in the world without digitisation strategy. The only one I mean mccrone outland at the minute. He became president of France. Mody did three and a half years ago. They tied it to GDP growth job creation startups, and they are tripling and quadrupling the number of companies they had that we didn't. Why? Why is it that it didn't because it because the internet was started as you know, with by the federal government and it was tech has been largely unfettered from a regulatory point of view for most. It largely has that has. But. Ups and how difficult it is to become public, etc. And maybe even short term mentality of investors including VC's, there's no lack of investment. There's no, I'm not so sure I would agree. So just giving you the numbers, the US used to have ninety percent of the venture capital twenty years ago, ten years ago, eighty percent. Today's fifty percent. The number of PO's going public, new York Stock Exchange or NASDAQ. We'll be a little bit over two hundred this year up slightly from last two years in the mid nineties. When we created twenty four million jobs in eight years, there were seven hundred and fifty companies on public per year. So it needs to be a national policy and we need to drive it every other country in the world, their top government leaders and their political parties on both sides are focused on how do they digitize their country, understand the downside from it because it will destroy a lot of jobs how the education system has to change in startups and small companies getting bigger, we'll be, we're all. Job creation. How did that happen in the first place? I have some other thing having. What are your theories? Go ahead. Did there's there's five giant companies going down the highway, like semi trailers and nobody could get past them now because they're all they don't compete with each other. Really, I wouldn't say Amazon, Apple, Google, and Facebook or competing with each other at all. Practically, you know, they're sort of splitting up the pie in certain areas and that there's no room for startups to go around them in any way and and the government can't do anything about it because it's not not not Microsoft. Like in the old days, you can target one company that individually. They're all so dominant that there's no room for anybody else. And why would you go public? You know, in a lot of these places, that's the other part is they have all this cash and they don't have to go public and they can wait to go public. And why do it in the first place? Is there any benefit to it all kinds of reasons like that will the going in the reverse order. You're right that the number of companies are hesitant about going public, and there are a lot of reasons for that. I is. They can get the cash. On it. And the second is they don't have to put up shareholder activists quarter reporting. They can stay private for a longer period of time. Now, unfortunately, for that, the employee benefit as much and the average American investment start market, it's not benefit. So this is not in our best interest. But second, he don't let those numbers Gary FU. They're small compared to venture capital is down to fifty percent of the world's venture capitals here. NOW, OUR NUMBER of unicorns of decreased by twenty percent of the world's unicorns which future job creators, etc. Are start up and being is a naming in terms of it in it's primarily in six geographies where ninety percent of the US venture capital goes into. So how do we change that as a country is very doable. Now to your second question, always loved taking on big companies and with my startups when I select which wants to do and I get the pick of the litter, you could argue, I deserve that or not, but the venture capitalist uses eight years a portfolio, John, you knew how to skill companies. You gotta help them operations. You know how to develop CEO's. Give you very favorable terms. So I do get the pick, but my goal is for each one of them to be number one in their segment of the industry, they go after and I've never worried about taking on the giants union at Cisco. We took on companies like Intel like IBM and the initial days we took on the Nortel's loosens the Alcatel's and what happens is companies get bigger, they get slower. They often get crossway with government. They forget that you must give back is will take in terms of profitability, etc. So I actually think companies are more challenged now in terms of his tech for gooders tech for bad in this country. Never before and segment of it might be that it stifles segments of startups. I've actually found the reverse. Most of the innovation is coming out of startups today when you have a spark cognition partnering with a Boeing Boeing's very innovative company, but they're doing a fifty fifty joint venture on the next generation unmanned aircraft and how you do the systems to maintain this a company with two hundred people. Down in Texas, or there's another company in New York, basically artificial intelligence and all of a sudden, the biggest companies in the US are working with that company on how they transform their business. They went from a million four run rate last year to over seventy million this year. So I would actually argue that startups will be where most innovation happens and that as long as there's a level playing field they can do well. Now, to your point, maybe venture capital was shy away from an investing in area that might be to direct with an Amazon or to direct with Facebook, etc. But about the time that large players think they're invulnerable, they are very vulnerable. All right on that. No, we're going to come back in a minute. We're talking with John Chambers. He's the former CEO and chairman assists go. And now he's has a new book out called connecting the dots leadership lessons in a startup world. Support for this podcast and the following message comes from smart water, not satisfied being like other brands. Smart water looked up at the clouds and said, I wonder if we can one up mother nature for a pure crisper water and guess what they did. This is the kind of water that regular water gets jealous of. It's the water that refreshes like no other brand, try it. Smart water vapor distilled for purity, electrolytes for taste. We're here with John chamber. He's the former CEO and chairman of Cisco where it was forever right? John forever. Why would we did this together? He's the author of connecting the dots leadership lessons at a start where we're talking about where startups are now. So talk about the things and then I want to get to your leadership lessons. Sure. What can the government do right now assess this government right now or the past two administrations will. This one doesn't have almost any interest in that from what I can tell will this very provocative question and answer very square. I know you're curious what kind of Republican. Okay. Let me go in reverse order. I support as many Democrats do Republican. Okay. One of the few Republicans in Silicon Valley at the time you brought, we're talking about John McCain, and again, I'm so John McCain was one of my friends in life. You much. Much on this seem so much and you're kind of John McCain Republican, you're saying, but also understanding. I think the definition Republicans and Democrats as re blurred. I'm after a country where you just do the right thing for the country that you do the right thing for all citizens, inclusive of all citizens for all states successor. And my basic philosophy I tried to start ups is one of your core values be just do the right thing. And so on a person's that blinks in social equality and always union, my Republican counterparts would call me liberal and that I would just say, I'm in touch with the world and the exists. And yet I believe pughsley indivi- y-you business creation, job creation, working together on it. So what are we missing? I want to make that point. I mean, you you and Meg Whitman were one of the one of the few Republic outspoken Republicans at the time. This was ten years ten fifteen years ago in staffer cast which probably thirty four cats. Although she's now in not as much. She's also all like you. I think. She's very similar to you like just actually airline is real good by the way. Yeah, she's great. But you all now look like communists at this point like compare like, you know what I mean in the Republican party? I don't think so. I, I know. The Democrats will. Yeah, I in this environment, what do you do is a moderate. Basically, you try to bring the country back together and you have the courage to lead make very bowl projections about what can be done. You can imagine saying in Europe, France will become the start up nation Europe. But at the time it's the worst place in Europe to do business in three years. They are the US once we decided person put a person on the moon, we can do it and both parties should come together. It's about job creation. It's about equality. It's about thanks to that because it seems like all we're arguing about is the most inane of things. You said a very well. I think we're focused on my parents were doctors what I call symptoms as opposed to underline issues. We've got to become a digital nation. We have to have a national digital policy. We've got to become a startup nation. Again, we're losing it rapidly that heat is being turned up on the frog in the pot, and we don't even know we're getting. Have to do what government has to create. It was a good per step on the tax policy and carry. You know, I was the poster child in in Washington for what seventeen years trying to get tax policy changed at hadn't changed since Microsoft became accompanying. And so that was a good first step. The second people feel that certain people benefit and others didn't, but let's move on the economy. The Khan me speaks for itself and it was way overdue and it wasn't perfect, of course not, but at least it was a great start and we're bringing him back money and invest in back in America. You can't argue with the results on that, but that was a transaction. We need to say, how do we change our education system? How do we have the courage to make changes? The other countries are already doing. I go back to France, France with poly technique, top engineering school, in my opinion, in Europe is the best source for engineers for American companies today. And then they have creative ideas like school forty two did is a private tuition free nonprofit or. Station that is starting re crank out engineers and well, it's very mixed. Do you take those hot? Cody engineers is I talked to one of the startups today they are sources could as poly technique and you see other countries moving. I think we've got to have the courage to do this differently, and if we're waiting to take companies public, we've got to find a way of growing them faster to create the digital strategy for this country. What is that? What? How does that who has to do that? All right. So let me paralleling is a great question. Let's look at the internet strategy that occur. I had the honour and I'm speaking now on being at the White House. President Clinton when we announced the internet air and said, this will change our country into his tremendous credit. Even though you said Democrats, nobody can be perfect, nobody humor for the Californians here you'll get used to care. Got any better. We outlined what it could do for the country and fast forward eight years twenty two and a half million jobs. The last time America got a raise other than they're starting to this year was in that period where average family income went up twenty four percent and the economy grew thirty, four percent would digitisation. You can do the exact same thing. Good news and bad news. It's going to move much faster the speed and just think about how long did it take Amazon to displace. WalMart is the most valuable company twenty one years. How long did it take tests? The displace GM fourteen years. Say on that one. We'll see. But you know, it's like any short will end what he's done has been amazed. Absolutely. And then the key is every company gets knocked down. The key is how when you get knocked down, how do you get back up? And then it took Uber seven years to pass tests. The next companies will change in three to four years. So it's the speed of change that we have to get used to. And that's where you need a reputable process. Yes. Other countries are saying, this is where my digitisation strategies going use Mody as an example in India. One point, three billion people. He's got Jerry one point, two million new jobs per month, and here's the crease out on digital strange free country, and I'm honored to be his adviser on this and it means two to four percent extra GDP growth. It gives them a chance to add one point, two million jobs per month. Think about that number. It gives them a chance to do it with smart cities. They have to become a startup nation. They have to become a manufacturing center, and here's his plan to get their France did the exact same thing even though mccrone and come from opposite sides. I am the ni- global hat tech embassador for France. Can you imagine the US having a German or French person responsible for technology? Embassador here it gives you an idea how out of box these, right? He's thinking who needs to do it here. It needs to be owned at the top, but also both parties have to come together when. The first country to digit has was Israel. All free political parties came together Shimon Peres prior offender years. Great friend of mine missing every day. And Yahoo said this is our best interest to do it in the digitize their country for twenty thousand jobs except for the. But I pretty certain. He just wanders around yelling about Russia. That's pretty much this is where I think we've gotta have all sides are equally responsible. Democrats and Republicans have to bring this together and have a common goal. The neat thing is care who in American can disagree with job. Creation was small business, but I'm just saying, I like to understand how that's gonna work. Given the current political, I think there's nothing like an opportunity to challenge in a romantic at there. I want to know brass tacks or axes, you make India successful, you make France successful. You say the US should follow that model. We're no longer the leaders. Second, you get both political parties on this issue to put aside their differences. Say everyone should carry about startups in every fifty states. So what are they need to do it? I think you need to have examples in business, and I intend to be a role model and we'll see if I can earn that trust or not. Instead of. Doing startups in Silicon Valley where carrots much safer ready to do because I can channel if you I not hire new all the venture capitalists. I get into the litter for every company I go into in spatial terms. I'm deliberately doing it across seven states. Now. Or wandering, Steve has the same concept. He's just wanted a different way and I applaud what he's doing and I know you know him very well, but we have to business leaders step up to this album. Challenge the companies. You just mentioned, want to take a certain amount of their tremendous wealth and give it back to society in startups in all fifty states and take a couple of states and sponsor them. I'm going to do that in front of congress for ruining democracy, but that's why they're busy. They're not in the best shape. We'll talk about the the image of tech. But right now, tech is not. Tech move from the lash in the nineties, with the internet's to tech is good for everyone to in every government leader. Democrats Republicans all agreed with Technet John and founded, and for twenty years when we went to Washington, we were just abolish sides, still Technet is within that, but we've got to be very careful tech isn't just about making profits doing what's right for your company. Citizens and governments have very legitimate concerns. And if you don't address, if we're going to destroy jobs, how do you create them? Cisco with network academy created seven million students trained on this over twenty years, and we focused on each country on giving back. I think tech has to get back to the base that right now the the narrative is damage. The damage caused by either the the from everything from tech, diction to Russians to fake news to this political discourse going to have. Yeah, please. I've been through this year in basically with the internet. It was going to destroy a lot of jobs and we focused. On how does it create more? We folks about how business and government regardless of the local party could work on common objectives. I was in China in the mid nineties, and one of their talk show hosts, and she said, people are addicted to the internet and look what you're doing to our troops that was out of left field, but the issues with the same. And we said, here's how we do the legitimate balance. And this is where even though I come from a conservative basis in terms of my my attitude toward job creation, etc. This is where I think all parties have to come together and say, we're going to change so requires the citizens. Why did France change? They had a leader at the top actually to Helen started it, but mccrone took it a whole new level, but the citizens were many. The citizens realized that starts going to be the future. If you would go onto poly technique, they're quantum Stanford or MIT and ask them seven or eight years ago, or are you going to go into government? It'd be companies ninety percent of the students would said government big companies. When I lecture there now with the secretary of defense. From France. We talked about startups now the majority of people poly technique or going into store next. And we have to get that energy back as a country. We control our destiny still have fifty percent of venture capital in the world still have the role models and the training, and we can scale quicker anyone else we've got to understand continuing to do the right thing to do. On in China because I just interviewed Kaifu Lee, you know, they're cleaning our clocks AI and other areas for lots of various reasons. For all kinds of reasons. We'll China probably knows we'll as most of your I was part of Wang laboratories said earlier which the Chinese company in America Dr Wang must brilliant. Man I ever met and he was men's roommate person who is president of China's, so I got huge access. I mean it same class group. I got huge access the Chinese leadership and not bet you talk about market transitions and care. I have a lot of weaknesses, but market transitions, right? Listen to customers and I place them up. That's usually in areas that ended up being right because of crowd sourcing data collection. I bet on China in one thousand nine hundred five at a time. Almost no one else did and it sir. We talked about that they were seen as copycats then and not an innovation center on new. There'd be immediately because it Wang laboratories when we put in Wang mini-computers Jonah, everybody would read the books if they had nothing to do with mini computers. I knew there'd be our biggest potential partner or challenge. China's doing so currently in China, I think unfortunately, it's developed into win-lose -ment outing, China during my lifetime has largely been a win win partner. You had negotiate, but a win win in the last ten years. It's really lost that relationship with the US to where it's been lost for the US and a win for China. We have to get back on a win win, and we've gotta find a way that benefits both countries, which I think it does, and I'm optimistic, we'll get there. I think if you're betting online country right now in the emerging world, it's India. It's an instant replay of China. It's democracy as well. You've got an amazing leader and Mody who's taking risks that others would not. Can you imagine it takes us seventeen years to change our tax policy Modine monetize currency in the weekend. A little fascist, but go ahead and move on. No, he basically what I did was changed the currency in terms of taking circulation out. There have been counterfeited after a little bossy mistake box. Good leaders are. Harry, even you and I get it, but I don't wanna go. It'd be fun. The neat thing is I think it's the best thing that's happened to India since Gandhi, and if India can increase their standard of living is there that are problematic, but but which are the country, are you going to bed is gone double their per capita income every ten years for the next two to three decades India. I feel like trying to in a is with data. They're collecting hit a different issue. The issues about technology leadership. You've got to have a national policy and they clearly do, yes, they have a national digitisation policy. They have a IBM very important just like the internet and they make it a national policy to lead here and they remove the roadblocks for that happening, including some roadblocks on the Elektra protection, which is very important to maintain. But the internet, we maintain our leadership on the US because we move very rapidly and we created a win win relationship with Jonah. We need to same thing on digitisation, but this requires technology leaders to be a part of every every company and if every political office and this is where maybe I'm a dreamer and most of the time when I do dream and say, here's how we can get there. That often happens. I believe our country can get this right, but it requires taking a step back and saying, we have to do it differently, requires the Republicans and Democrats working together and require. The citizens to say, this is what we want. We want to start up a comedy. Again, I won't Mitrokhin. I mean, remember I'm from West Virginia. I've lived in North Carolina, Georgia, Indiana, Ohio, Illinois. We're leaving behind that part of the nation that people know it. It's got to be inclusive of what we do, and that's really what the book that I'm writing about in the next section. Okay. Here with John Chambers, he's the former CEO and chairman of Cisco, his new book which aren't talking about next. It's called connecting dots leadership lessons in a startup world. Hi, this is Aaron patinkin CEO of of unle and I'm Natasha case CEO of cool house and together or the co hosts of start to sail. We talk to entrepreneurs about what it takes to build a business from launch to exit will really talk about the experience in the trenches, the most valuable lessons learned to get them out of there. Don't miss an episode subscribe to our show today, and thanks to smart water for being the founding sponsor of start to sail. We're here with John Chambers. I've known for a very long time. He used to run a company a little company called Cisco, and now he is he runs a tiny little company of his own, but he's written a book called connecting the dots leadership lessons in a startup world. So we've just been talking about how the US is full lagging behind everybody else. And I agree with you in that regard, and we're leaving a lot of people out. I think that's a harder problem to deal with for, but I think it can be dealt with. We do start ups right on a different scale. Right? Exactly. So you is such as it's, I think it's a matter of national policy. I agree with you in that, but I don't think we have any kind of political will to do anything about it. I just don't. I don't see where it's going to come from and maybe these things change very quickly and they did before. So maybe they'll do it again, but it's really hard to imagine given temperature which is on the ropes from an image point of view. So they're not focused on anything but sort of saving their hide and that our government is completely out of touch with challenges that are coming a lot of challenges. That's just my feeling. But let's talk about these leadership lessons that we. I have to do so talk about some of them from the book of what you think. Sure. Well, I, I wrote the book. I thought books are procreate to right once you're dead, and somebody else writes Chan and as you know, I'm dyslexic soon writing is very painful for me. So the last thing I wanted to do was to write a book and I changed my mind because in my current new chapter, my life, I'm doing startups. I have sixteen invested in about one hundred million dollars invested in these startups, and I want them to be the role model for how do you grow in skill startups in this country. Not just in Silicon Valley. I've deliberately having grow seven states now I wanna take it to Dan, and I want to show that this is a model that can work across our country. The second thing want in West Virginia. We will probably do that very short November not to get him. Thank you. My dad was from their mortgage. We went to university of West Virginia. We're going to with the university of West Virginia, November major changes on startups and the university business curriculum and stuff. So we're going to try to make it a model much like Steve cases trying to get into approaches going. So what I'm focused on is not how do we make sixteen companies successful? And I may sure them on Dewey, grew headcount jobs by forty percent a year which means by definition, they gotta go fifty, two hundred percent revenue. So I'm trying to say, here's the model that's like we did at Cisco where I quiet, one hundred and eighty companies. And most people would say, we did a better than anyone else in it allowed us to move from one market to the next the next. So the leadership lessons is much like you do your own mod, casts, etc. You have a reputable playbook of innovation you do again and again, and and you changed when somebody catches you as you said a moment ago, but that's exactly what I've learned to do over the years. So reputable playbook for how you do acquisitions, a reputable playbook for how you do digitisation countries. A reputable playbook for how you deal with customer problems, reputable a playbook for how you become one or two in each category. And so what I'm doing now with startups is a reputable playbook, how do you get the market transitions? Right. How do you select the right CEO to be able to do this? How do you listen to customers that will tell you these are the company should invest in? How do you be pretty sure that the venture capitalist angel investors are the skills that are needed within this and that they're building a great team, and then you just cook. He cut it with tremendous speed. I think that model work across the country and partnering with BC's much like I did during the ninety s Martin or with a major VC's into the valley, and they gave us the pick of the litter in terms of which companies to acquire about doing reputable. But most people think venture capitalists, artisanal really like that's how they sell themselves that they are special and that isn't. It isn't replicable. Okay, agree with part of what you said. I think they're lying, but go ahead. Like like staying here. I think what it is is they are brilliant, identifying trends, early masculine, not there's only one St John. I am basically a person that goes listen to customers and they'll tell me which companies to buy or which companies to invest in. And so focus on how do you skill and grow an organization. That's where my skills are, and I've seen every movie there is in the world, and I've done some things right and not mistakes along the way. But with these small companies, they learn so quickly. And so what I've learned is when I sold small companies over the last two and a half years learning space, that's what my friend said, John, you should write a book because it isn't about startups. It's about a startup world where every organization, whether the government or big companies, small companies must have a startup mentality on speed fearlessness ability to dream. My regrets are not that I dream too big. I probably should have dreamt Baker and take more risk on it. So teaching that is very key teaching startups how to deal with the media, and it is so fun having. Teaching a young CEO how to interface somebody like you care. How do you have questions and how do you answer the questions but also when deflect them and and how do you have fun in an interview indirection teaching them how to scale an organization and how to do channels and how to do our in d- how do you go global, etc. And I think that's what's missing if we're waiting longer for the company to go public, then you don't have the benefit of the boards being exit ios of other companies, etc. Helping you grow in the feces to your earlier point, most of them are good on ideas, but not anywhere near as good skilling indices been done is it's very artistic. It's like you have to be here. You have to do this. This is not, and it seems like they keep doing the same thing over and over again. Like they keep making the dough and I'm like, can't you just do this in a more organized fashion all act like they can will. I think you've hit on several things that have fairness. The first is the model that made us successful a decade or two ago isn't going to make a successful. Now we talked earlier about ninety percent of venture. Capital going in Silicon Valley just what was that in the US twenty years ago today it's only fifty. You have to do different models. So I'm trying to be a model of how to do differently just like I did at Cisco on how do you acquire? What are some of the key lessons? Oh, with the most basic, one of all is what's the role of CEO its vision strategy for the company. Everybody gets that it's about developing recruiting, retaining and change in the leadership team. That's hard to do. Third is culture and most young CEOs don't get the culture and the fourth in today's world of space, she was social media and everything else. You've got to be unbelievable on communications today I hit, let's go through each of those. Okay. So let me start with a fun when culture which most CEO's forget how important is you never have a great company without a strong culture. You may like the culture of the company to Microsoft or Cisco, or Intel or WalMart, but they are very strong in terms of the culture, and you never have a great company without it. Most startups don't even think about culture. Culture should be. What are you saying about? Are you customer? I do. You treat people as equals within the organization. Do you really just do the right thing? Do you make innovation happen? Excetera. And if you define your culture, right, it permeates and the foundation for everything else you do. And when you teach these young companies about that, the first reaction is not think so. And then all of a sudden you see him finally get it, and then you see them reinforce that you now recruit people based on the culture you have and you don't you reject the people who don't fit into the culture for you're going, if you're going to be customers, I, it's got to permeate. Everything that you do on. So this to me is like grandkids. They I've seen the movie so many times before messed it up a number times. Got it, right. A number of times and you can get an exciting, what's possible, and then you can show them the roadmap, and then you give back management on the evening when conduct culture, maybe they can be very different. They can be very different, but the CEO sheer, he's got to own it in culture. Inclusion culture can be Corp, associate sponsor. -bility culture can be. Technology innovation, but it's got, and that's the way they are. I think there's a mean company since world. I hang tremendously. Good. Very well me. They do, but remain for a long time and it worked for them. Yeah, but let let's it's fun care. I love interviewing with you, but let's you Cisco as an example. Nobody would define us as a mean culture employees in the company. We went every corporate social responsibility award yet we wanted the most profitable companies in his show. I don't think any of them succeeds necessarily, but I think mean can succeed just as well as no. That's fair. And you may like the culture Dubar you may not. Sorry about that. Just have you seen the commercials? Very sorry. What goes back to every company and every leader's gonna get knocked on their tail. It isn't. How will you handle your success? It's how will you handle your setbacks? And that's what I teach in this book. And it's I'm a product of my sex me and dyslexia how to do it almost drowning in a very young age and my dad saving me and then teach me how do you deal with rampant and Kern and then seeing ten years later, somebody drowned in the same spot and it could have been me and learning for how do you stay calm under tremendous pressure would teaching that is fun. And so the -bility to do that in this book is what I'm focused on and it it covers everything. They do extra so culture. What's the second one? The, the really the first one is vision strategy for the company, and you've got to be able to outline it and as a young CEO or in an existing company, you've got to be really Chris. How is your vision different than your counterparts? What is your strategy. One of the top elements that are required accomplish that, then how do you build a leadership team? It sounds easy to really hard, and then how do you know when to change your founders? How do you know when to reject people who can't fit into the culture? How do you evolve your team? We had eight CFO's at Cisco. We never missed a beat, eight sales ED's of sales. It Cisco, we knew how to make those transitions will teaching these young companies how to do it and then communications during Jack Welch's time, and he's a good friend and actually one of the endorsers of the book you didn't have to be good a communications to be a great SIA in today's world, you better be good communications, and that includes this Ning social media ability to take complex topics and move with tremendous speed because your brand image damaged can be done to it in an air that would have taken Jack Welch's times months to occur. So you say, how do these characteristics work? Then you teach him understand if you haven't got a market transition going on in different business models. Don't go into that. Market, you can get hammered hundreds person into new market without differentiations going to get crushed. So you catch these technology trends competing moving to the edge, the importance of security, internet of everything. Five hundred billion devices getting connected, the internet, the ability to manage that data and to be able to get the right outcome at the right time to the right person or machine to make the right decision. Those are huge opportunities, and that's why I'm so up to mystic that the job creation engine can be as strong as it was in the nineties or even stronger. If we read this. Obser- those because obviously I was just talking to Lou about the loss of jobs and they're going to like, especially in China, the manufacturing jobs are all going to be automated, so they have to deal with that. So for example, completely agree. I my numbers, unfortunately, twenty to forty percent of jobs today. We'll get destroyed. And I said that three to four years ago, and that's why moso on the bandwagon large companies will not add headcount mathematically if you're not doing it, at least ten percent, you're gonna give raises to your employees. You're basically gives some profits back to the shareholders. I in terms of the issue and you're gonna drive productivity at forty five percent which enables the first two. So by definition and this, your company's growing probably in double digits, your headcount growth over the next decades going to be flat to probably negative. It means that if we don't get dramatically more start ups, more companies are going out of business in the US than going in. If we don't increase the number, not incrementally by ten or twenty percent like we're trying to do on this year, think about the tip of the iceberg. But you think about how do you do this by. Fifty or one hundred percent, then you have to think about it differently, and that's what our counterparts doing in this world. You're in a world with you the disrupt or you get disrupted. It's not a zero sum game, right? Which is, is it somewhat knew to speed is three to five pounds faster, and the implications are three to five times more. So what I'm trying to do with this book is saying, this is really an example a hopefully go to book for leaders with their business or individuals with how do you do what I loved in college, which is gimme the cliff notes. Tell me the stories that make me understand why this process worked, and that's how you remember who stories you do that, so well in your business, then cliff notes at the back just give me the key takeaways. So all thirteen chapters we have cliff notes the back of it, and it's something that I hope that people will read and probably find more interest certain chapters initially than they will perhaps six or twelve months later if it really works right, you'd love to see 'em BA school say, this is your your bible for really how you develop business in. Well, the ideas. In another them selves are not new. The idea of innovation playbook, and how do you do that for every aspect idea of how you deal with setbacks, etc. The stories with an r and I've experienced good news and bad news in ways that no one else key problem most troubled companies have or they all different. If there's one thing that a problem company gets into trouble on, it's getting too far away from their customers. The second thing is they miss them market transition, those care current faster and faster speed, and therefore you've gotta be watching for him. And by the time it's obvious, it's too late. The third thing is a company fails to reinvent itself. And the fourth thing is they keep doing the right thing too long. So yes, there is, and that's fun. First one was that they don't focus on customers? Yes. So I, I saw that IBM IBM got on top of the world by being the most customer Centric company. And yet as we up bigger and bigger and joined them in the mid seventies, unfortunately about the time they plant it out. They were not listening to the customers in fact, actually got criticized on the management about same. Don't tell me the minicomputer that we're building isn't good for customers just still more. Yeah. And it wasn't good product for him, and that's where they got displaced by the decks and the weighing, etc. The world goes everywhere. I remember being at the years ago in the record industry and I was like, nobody wants albums to one of them in there. Like that's the way we're doing like nobody wants them. I think you're selling coke and a sixty four ounce bottle and they want cans exactly can't. So you're building to listen to consumers in ways that you haven't before. One of the companies that die invested in that I really love is sprinkler out of New York City. If you're not familiar with them, we'd be a fun when they are probably the top social management platform. They go crossed all twenty four social media capability as well as traditional Email, etc. They have the ability to often see Trinh's before the company consumer even log onto the website, and they do this remarkably will, but that's moving where the market is going firms with future customer. The next one, the next one I might get him a little bit out of sequencers. It's what we said. They keep doing the right thing too long, and that's what she did. And I would argue that's what I b. m. did that's what weighing did you if you don't cost reinvent yourself and Microsoft would probably be an example with Sacha have reinvented themselves. Most companies do not integrate company, but they really wanted to products that they've had the store, the majority of the prophets not true to Cisco, and it won't be true my startups. So how do you constantly reinvent yourself and not any longer? Every ten years? Probably every three to four and you have to think that way. And then you basically have to build an unbelievably strong culture to catch these changes in terms of the market. And most people don't do. They don't see the change or you can see the changes and make it badly. I mean, you guys were early to the media quest memory that thing you had that was a TV set. I remember all we were very quickly would tell her presence, hasn't. Morales sessions which you ought to us now. Schuylkill hanging up. Directionally, you can be right directionally in wrong in the front actually was very profitable for us. What we did you need to take on what was he had a name, but there was another name. Another product that you would you put it on the TV. I can't remember yet. You bought the flip camera if you remember my my favorite. That we were right under action and wrongly. Next. Well, you didn't know that iphone was coming out with the Cameron. We actually had the probably cops we did not. Yeah. And if we'd knowing that we should have put on every smartphone out there, video and flip should have been cloud provider of it, but it shows you once in startups. It's a portfolio play like acquisitions, the majority of startups from not work in society needs to understand that with my portfolio, hope will be majority, but you can't be right. You can see the shift and then not make it, or you can be like, say, Steve bomber, I'll never forget when he said these mo- mobile phones who cares? And I was like, what like Saint Thomas for made about the internet? What is the internet is for these techies university, but now every company and everything we do is going to be connected to technology and the US should lead here. And what I'm trying to do in this book has to say, here's an example and how to do it and also my platform. Ford I want to do next. I had the unusual opportunity to help change the world with the internet and very proud of what we did both socially and businesswise. And how we shared it across our customers, our citizens, our company, the employees and their shareholders. I now I'm trying to do that with digitisation not just transforming countries in my prior role with Cisco, but now start ups and they will be the future innovation one part of the country. We've got to wrap up soon, but is there one part of the country that you see great promise in, or is it just you're trying to across the country? Well, the great promise is in the areas that reinventing themselves the quickest, that'd probably be Texas. I'm optimistic on Silicon Valley, but boy, we gotta change. What I want to see is I want to see every state make this atop agenda. Regardless of politics, governor you think is Hickenlooper in Colorado, or he's loopers is is very good example. I think if she wins in Georgia's interesting, there's going to be a lot of interesting candidates regardless of your political views on it, but it goes back to it starts with university, why Silicon Valley, so successful Stanford. Why is the Boston area so successful MIT. So. West Virginia university has to make digitisation artificial intelligence. One of his top priorities, I went to France and my last trip to France, France, Leonard, and fifty startups. I'm learning really, really. And then I popped into one of these classes in a university in the northern part of the country. That's very poor area now was going to talk to him artificial intelligence and how they ought to think about this. I walked into the class who it's an artificial intelligence class. So others are changing faster than we are countries like France that was very slow to change. They're getting back to their entrepreneur roots. Yeah. Why say that France, but with France can do it. Exactly why can't American at original war. If India do this, why can't America do this? We need to put the country back into starting because we're fat stupid, arguing with each other all day over stupid things. That's why complete d. agree. We, we got back to my parents were doctors. We're focusing on the symptoms, not underlying issues. Yeah, we're a great country. Yeah, we need to be great on startups and needs to be inclusive. We need to get our immigration policy working where we attract the best and the brightest from all over the world for these companies, forty percent of the fortune five hundred. We're founded by immigrants immigrants. President about the immigration policy. I'm assuming you're pretty liberal on that issue. Well, I think I'm in touch. This is a country of him and yes, yeah, we ought to track the best and the brightest of this this country as fast as we can make it the best place to do it full stop. And this is in the interests of creating jobs in America, not trying to solve world hunger, but for well educated people who can come in and make a huge difference on job creation and help us on vacation. We not always should attract him. No universities. We should keep them and they still want to come to the US. Right, right. The scary part is before we used to say, we'll for the engineers for financial reasons. Put some of the resources in India. Do you know where my startups or today? Even though they're found in the US, they have a lot of their engineering resources in France and Germany among places. So we're falling behind. So I want to get back to how do we change this carrot perhaps it's a dream, but I think you're now seeing more and more people focus on stewing this. I think American people are very smart, not about politics. It's about just. Doing the right thing and giving their kids at chance for this and back to the issue you raised indirectly. We've got to get the kids, especially on gender and diversity excited about technology and excited by entrepreneurism in the third and fourth and fifth grade. That's we lose the women's. You know, if you're not an entrepreneur going forward, you're screwed. You're screwed. You just if you don't have an entrepreneurial nature, Betty, that's the book and about leadership entrepreneurism startups regardless of what size is your mentality. Actually, it is amid Howdy. It's a mentality of being able to dream. It's a mentality of setting. Goals are day. She's metality of having no fear sometimes through lack knowledge, which is okay. And then it's a mentality of you get knocked down and majority transfer tilting back up and go. Again, we also do put in all kinds of things to stop, talented people. You know, it's an idea of talent ISM. I always think there's, I always use this example that there's a small girl in rural Tennessee who can solve cancer and she will not because she is their gender issues. Around our, she doesn't get the education. She needs. There's opiate pro like we put so many things, sexism racism in their way minute that it makes it much harder for them to jump those up. So it does, but I think it's doable. My generation did not fix this. We did a pretty good job at Cisco when our mortar directors, senior leadership, gender, diversity, etc. But in terms of the total mix, as you know, we've flatlined out as a country on the number of female CEO and mix of the hot tech companies on gender in India with one of the start ups, all they did was require airport every opening one female to interview a new thing in California, and it went from twenty four to three or four percent. So this generation millennials can fix it. If you just give them the notch coming stipulation would fix this. But at this point I'm like, it's easy. Just gender alone. It's either women are stupider or it's sexism, and I don't think women are stupider. So you're fifty four percent of the college graduates, and I learned a long we go, you're smarter. I say that the legislation about boards, I don't think you legislation is not the way to solve. I think by the time the government goes at it. You got a real problem, diverse boards, pretty sped results area, diverse leadership, produce better results period. You fix it in the startups. And by the time you're talking to personal work on tax policy for seventeen years. By the time, government does something. It's too late in the day messed up. So I think they've got to create an environment, but companies have to also own this. This isn't about just making profits about doing the right things and having inclusion as part of your culture, but it's the startups solve this. If that's where all the jobs are going to be created, which will care point goo fix that they are. Yeah, I was talking to a CEO and he's like, well, it can't just be about doing the right thing. I'm like, why I was like, why not? Why not? Why can't you're out doing the right? That's the values that teach. We're not talk about culture. I try to encourage people to put customers first, the CEO sheer. He's got to own the culture and then just do the right thing. I was on video conference. With the young woman out of France, twenty five employees and our company. She's got a tiger by the tail and terms of union how you change the workplace and what do you do on this? And she focused on her culture and values. She would not have done that originally, but. I'm entered her when I was in France. I said, here's what I want to cover the next time we're together, there's the approach. So I I'm really optimistic about the future, but I think it's going to be the millennials who fix it. Let's hope anyway, jock. I really appreciate it. It's a pleasure. It's been too long. We have to do this more often. I have a lot of questions I want to. I'm going to France with you. I'm coming to France to do it was the food's good to a hear. It was great talking to you. Thanks for coming on the show. He enjoyed the interview as much as I did, be sure to describe and leave us a review on apple podcast. You can also find more episodes of Rico decode on Spotify, Google podcasts or wherever you listen to podcasts, if you didn't like the interview, lose it and co, Sean. How's that. A pig. If you tweet me, I'm curious on Twitter. I like pigs, that's fine. Now that you're done with this going, check out the latest episode of Recode media. You can find that show wherever you found this one. Thanks for listening to this episode of Rico decode, and thanks to editor. Joel, rob, your producer, Eric Johnson. I'll be back here on Saturday tune in then.

Cisco US CEO Silicon Valley France India Democrats John Chambers John China Microsoft America WalMart Europe chairman West Virginia Russia Texas
Part Two: How to develop a winning strategy as the economy restarts | Ep. 133

The ROI Podcast

24:31 min | 1 year ago

Part Two: How to develop a winning strategy as the economy restarts | Ep. 133

"Off I think trust is very fabric of yours and individual. It doesn't mean you're GONNA be right on the top in fact when you're in uncharted. Waters you better not. You're not going to be right all the time that you gotta say how do you instill the trust and the confidence and then how you get people come to would your strategy that and then you go for no fear? Welcome to another episode of the Roi podcast presented by the Indiana University. Kelley School of business. I'm your host Matt. Martel joined by the Dean of the Kelley School of business. Id Kezner here on the show. Our mission is to help organizations make better business decisions so if this is your first time tuning in we want to welcome you to our Kelly family and just let you know that we are here for you. So if you're an organizational leader who's really wrestling especially this time of getting back into the economy getting your business opened up or just wanting to know how you can become a better leader. Maybe you would love to get some of our faculty research expertise or you just Nova great individual. Who's GonNa make an awesome guests for our show? Send us an email to Roi ipod that's Roi P. OD at IEP You I dot. Edu All right well. Last week we started an awesome conversation. Going into a book called connecting the dots where we were discovering these foundational leadership principles. And how it's all going to build up today. How are we as leaders to get back into the economy? How are we going to get back into our teams? And how are we going to build a playbook that's gonNA allow us not just to come in surviving but to come out on top to become a better or and use what we've learned here during this Cova? Nineteen Take the principles and the great things that we've able to build and bring it into our organization so today we are welcoming back. John Chambers former CEO OF CISCO networks author of connecting the DOTS lessons for leadership in startup world. He's also a Kelley School of business. Nba Alum and current founder and CEO of JC two ventures. John Welcome back to the podcast. Man It'll be a of fun. Enjoyed the session last week. I eat good to see you again as well. So we were talking a lot about these foundational principles you know. The whole thesis of your book is is talking about this idea of disruption in. It's not necessarily the companies. That did something wrong. That fail or get disrupted but a lot of times. It's it's the companies in the organizations and the mindset of doing the right thing for too long and that was kind of our foundation that kind of sets the whole stage for being disrupted you know especially nowadays. I mean every in organizations being disrupted our economy has been at a hall. We're beginning to start this reentering phase and you in your book have specific chapter about when disaster strikes. How organizational leaders can lead not just lead but effectively lead their team through a crisis? And come out better on the other side. And one thing you know before it you even able to build a plan and build a playbook The foundational key is trust because of a team does not trust you as a leader. Trust you as we're we're going trust the vision that you are presenting than they're not GonNa follow you even if you have the greatest playbook of all time so to start off why must trust precede crisis management. Well I think trust is the very fabric of who yours and individual. I learned that from my parents but doctors in West Virginia and We always use. We got last week dealt with the world the way it is not the way that you wish was Trust me is about to. The best of your ability always delivering on your commitments. Sounds easy hard to do but in my entire business career. At least as far as I'm aware of out of the thirty hundreds of thousands of customers that I've met over thirty years I can always go back and interface to them whether they're the top leaders of countries Or whether they're the CEO large company or an individual that I work with so the fabric of a cultures built around trust and trust transference. And if you do that right whether it's mccrone in France who trust me to be his French at tech embassador because of the way we built that trust up over I'm lecturing the NBA schools if you will in France which really fun. When he was the minister of the economy or with a Prime Minister Modi India. Where would he outlined that digital digital edition of his country over time over to two years? I've worked with Grad years. He trusts me to the best of my ability. Always deliver to be very candid about what I think. We're doing right where we have to improve and Wisconsin enough when he talked to the top. Ceo's in America in his last visit to New York basketball you basically said. I Trust John. And if you have any issues you directly or you can go to John and you'll make an APP for you. That trust is so important fabric. It goes down to employees stressing you to follow you. It doesn't mean you're GONNA be right all the time in fact when you're unchartered waters you better not. You're not going to be right all of that. But you gotta say how do you instill trust and the confidence and ben how you get people comfortable with your strategy bill with and then how did you go for it? No fear once I move. I don't look back if I find something dramatically different than anticipated. I'll reconsider but as a whole once. I decided to go for. We put the whole power the company behind unbelievably successful with that. That's what I'm trying to convey to my eighteen startups that are part of Ireland portfolio into learning the hundreds and hundreds of startups. I thought do every month in your book. You have this really pivotal incident in your early childhood when you almost drowned in your father gives you instructions when you were struggling. This is this is fascinating lesson and it. It certainly set the stage for your views on crisis management. I wonder if you would recount that amazing story and what you learn from it about crisis management. Will it several things that I learned? The first thing is I've learned each of us. Remember the story not the way. We all know not to panic under pressure but we all do and so what happened at six years of age is fishing and Elk River West Virginia and my dad often fished together He was teaching me how to do it. He put me at the best fishing location on a very fast rapid area and he said John. You cannot get into close to this because you get swept up those rapids. It's very very dangerous. And so he watched me fish there from fifteen or twenty minutes. Obviously thought I had it under control. He moved about two hundred yards upstream. And then what ad do I got too close to the edge and failure mm-hmm and SA went under. I realized I was in real trouble. I was only off the rocks at that. Maybe it was going to drought and is at grass for Aaron. Come up I could hear my dad yelling. Hold onto the poll. Hold onto the fishing pole ad. Ib couldn't call five dollars black etcetera but obviously. He was concerned about the fishing bowl. So I wasn't gonNA drown each time I'd grass for air and I was choking sputtering etc as reasonably good swimmer competitively or six year old six years old and each time came up usually hold onto the phone. I can seem today running down the edge of the river water going every which way he's it came through he finally got below me. Swam out Hobie over to the side up. Me and his dad did all of his life. He taught me afterwards. What was the message? We sat down and he said you know so important when you find yourself being swept away in life in this time. It's the river Did you go buy gifts occur that you can not panicked people die and you've got to focus on just working your way over the side door with the world the way it is and pulling it out and then he did something? I don't think he ever told my mom took me back to where I was any heavy jump in the river and get Adema tremendous life lesson about twelve years later. When my sister's friends was up swimming in that exact location and he was sixteen a great athlete. Much stronger obviously would have been at six. He fell into that riverside spot and he drowned. Domas there reminding to hold onto the whole so those lessons really sink in terms of the. Is You know as a teacher at. It's about those stories that really add the substance to it so as leaders you wanted to share the stories and then the key takeaway key punchline. The people remember the story even if they kind of use. The punchline is a a nice to remember in. How true is that analogy. I mean that was a real life story but yet it coincides with what a lot of patients are facing today with Cova nineteen here. They were economies on the uprise. Big Gains in you know in history in the stock market and then all of a sudden so many of these organizations fell into their own river and now are struggling or treading water. Just just to survive talk about the importance of wind crisis. Hits how important it is as an organizational leader to really keep your emotions in check the hold onto that fishing pole. How do they find that fishing pole to hold onto when everything around them feels like it's collapsing in so many of your viewers view? This is the worst crisis they've ever seen. I've seen one. That was much worse for High Tech. Two Thousand One and the high tech industry on average stock drop at eighty percent eighty percent. We went the Most Valuable Company in the world at Cisco to people question. Could I do my job and what you learned that time and I really would sit up on the roof of the House and look out at the valley and wonder can I lead the company through this. You naturally question. Are you the right person you question how come I didn't see it ahead of time? How could I miss this? It doesn't help that you saw it before your counterparts or did execute it to a better. How come you couldn't protect your employees from this end? It's the understanding of once you've been through this. The next time is easy. But it's easier and this is my sixth financial crisis and so- navigating through it is pretty predictable. It's like having a doctor operate on you. You have a real serious heart surgery. You want the doctor done at a thousand times. Not Somebody who's doing for the first time even though they might be very doubted. And then it's sharing with others. How do you navigate through this? And it's helping them. Connect the dots on how they see. And you can't see any because I am using offense people what you gotTa Say. She just needs to be. Call as you get to know me Matt and Abby when I a m really worried about something. I talk. Unbelievably slowly very focused on wall. We're going to do. How do we navigate through this? How do we determine how many people get laid off? Here's what we looked like. We come out in. Here's our make a difference normally. I'm off the walls. Going an idea a minute in terms of the balance the approach in so you have to as a leader. Adjust your style to your team based on the experience with outlined a vision of how you got there what you can do to fix it what we look like. Wakeham being transparent. Don't have if you don't know just tell people you don't know hard to do for young leaders and going back to the same theme of last week. These leaders have been through this or if they were much further down in organization so all learned to doing with rapids for the first time by the read about him. Great Training Schools. Like you business school. But they're doing it for the first time and you will panic. Initially you'll feel that Hollis in your stomach bike. Oh my gosh. I hope I make the right decision here and no. Unfortunately I'm GONNA impact people's lives sometimes for very negative approach. If you have to lay them off how do you deal with this? And then position your company your state your country for the recovery. And she go for John. In one chapter you talk about the importance of effective communication in getting your message out and I can only imagine especially important in a crisis situation this quote. You say you're not as good as people think you are when things are going well. But you're not as bad as people think you are when there's a downturn or setback what can leaders do to influence that balance of perspective in how they're portrayed in the media especially during a crisis will I is. You're at the mercy of the media in many ways but you need to take a step back and don't become You've gotTa Control Your own destiny. It's a lot easier to do a social media where you know. I'm I'm follow by about two hundred. Forty five thousand people on linked in and I get my messages out. I don't allow other. People are mapping for me then used so she'll media to be the springboard for the traditional media and how Dr Key points through also build relationships ahead of time. Just like you do with government leaders before there's a problem so when you're inter problem people tend to trust you that trucks transference. We talked about earlier in terms of the approach. And then always to listen to your critics every critic. There's a dozen element of truth in terms of the balance in. You want to listen for but then you very clearly outlined where you're GonNa go you get your team together as one team. Here's what we're GONNA do each of those five platforms. We're going to run for crisis recovery. He is the head of sales. Has this when finance leader has this when ETA customer services as this one etc? And here's how he come through and then you've got to have a balance in a dream. It is achievable. If people will believe it they want that Northstar and then you look at the is you bring them with you and you celebrate the successes. No matter how how small they are along the way and you deal with the challenges in remained with. It's going to be if you're lucky. Three STEPS FORWARD TO BACK. Its steps for do back and you'RE GONNA get knocked down at least one or two more times then you tell them the story and you're there when they need you the most last week you got into what goes into a great playbook they things that you follow and before we get into what organizations need to have in to their economic. You know playbook and how they're going to reenter one thing that you said in this chapter about crisis is that a lot of organizational leaders will take the outside circumstances that are out of their control and they'll take it personally like they did something wrong and they'll overreact out of that place of emotion thinking well. I feel like I need to do something more and really kind of make poor decisions based on you know trying to control it so where how can leaders you know. Take a healthy perspective or healthy. Look at what's happening outside and out of their control but then also protect themselves and protect their team from not having to make moves. That are unnecessary. It's a tough balance. Matt there isn't a complete right or wrong. I you gotta deal with the world quickly way it is. You make your move very quickly in terms of your expense balance your Flow how you interface employees customers. You paint the picture where you're going to go which is regular evolutionary process. And then you show steps along the way to get there you've got avoid. The image specially as leader. You're not if you're a victim your whole company will lose trust in you. You got to be realistic on the challenges and how severe they are in. The pain is probably gonNA come with this. You strike that balance of showing a little. Bit of your humidifier authority And you do it by interface near customers in your employees even more than than at other times at if you make mistakes. She cracked from quickly in terms of the direction with. This is where you almost have to be fearless and the first time through. I was scared to death at a second time. I had and so while we should avoid challenges Unsound there I love to compete. I love the paint. The picture of what we looked like I love to pull organization together. It's through the challenge is removed for to really make a difference on it and we will come through and if you look at my team's lead look each other hat. We are going to do it his team and we know we're vulnerable but we honestly believe we're beatable we really do and it isn't about surviving. I mean who wants to survive. You want to paint the picture. We can be a great copies. Come out how it's going to be stronger. How you share this society and with the families how you share the company's success with your employees near customers and how you deal with problems together when family which makes you have beatable China. I one of the things. We talked a lot about it. The Kelley School is. We talked about three characteristics that our students have in common. We always say our lungs haven't common. Obviously they came through our program and these are the talent to succeed humility to grow and to persevere and me say you illustrate these aspects very very clearly talent in humility tenacity. I wonder if you might speak to help. Horton those was. Are you leaders? I think they're extremely important. And it's important understand your strength in your leaders. It's much like a great basketball coach of which we've had some very good ones that you You can be a great coach. But if you haven't got a number of really top players who fit into your style of ball you're not GonNa Win Games. And so it's about having the talent to succeed in so when I look at my startups the first thing I do is help them. Build talent and boy. We recruit the best and the brightest young one win company. That may shock you did. You'd never even heard company Asef out of New York City. It's a startup. Artificial intelligence customer experience level and. They were in stealth mode until just a month ago yet. They had fifty five. Phd's of artificial intelligence to go against Google facebook Amazon. Any of them they got the entire Mattie graduating class last year all four of them On it an so talent to succeed and this is industries is every company becomes a technology company whether you're in manufacturing or healthcare or government It's is about talent and than getting them to play. Humility is important at like what you're teaching because it's it's the best There have been some very good examples of humility out in the West Coast Age Be Bill or culture that through many many generations of leaders. There are others that can lead. Didn't have much melody and I think it comes a bites them in the end Because that says about your culture of your company and your direction but I wish I can tell you that the people are aren't GonNa succeed. That's not necessarily true but it does have to know what your culture is in your company and do you expect people who are humble A Walmart being a great example. I've watched seven generations of leaders there and while no all families built into Walmart now on their board. Is that humility Lee. Scott as a key example Doug Macmillan Masonry humble in terms of the direction personally. There or stubbornness I have a little bit of both. My wife would probably say too much of the second But boy once there's a goal and I believe it's attainable Will Move Heaven and earth to get there. I will never do anything knowingly. That is fair I I would never do something to competitor. That ever promised did it to me on it. But the ability of paint that vision and execute them and execute them. Because I am better prepared in every meeting. I build better teams. I get the market transitions right. You could be against market transitions. Technology never against companies you competing companies. You could not the remission mirrors you go forward. I think there's a three good ones at like humility is part of the culture that you'll find and I played. There are a number leaders. Who are overconfident. And that I don't necessarily treat people like your customers like you believe retreat. That doesn't mean they won't win but it is what culture one company. So as we have organizational leaders who are hungry to get back and get back into the economy get their businesses open. You know there is going to be a fine balance of doing too much too quickly in doing not enough Kind of getting left behind. And that's where it comes into having that effective strategy or or the playbook as you mentioned last week you started mentioning and talking about key elements and what makes a successful playbook but given you know where we're at in our economy and given the circumstances. What do organizational leaders need to make sure they have in their strategy in their playbook as they start to look toward re opening and re entering the market so the first part of it is exactly foundation built last week and then the second part of it is out of you? Break Away as you come through this. You have to complete the foundational building. You gotTa have the five to seven major things going to do to get through the crisis. You've got to build the trust of your customers your employees. You're shareowners the media your partners as you go through this you've got. The regularly updated them. So they believe in your vision and then you paint the picture of what you're GonNa look like as you come out. You make the adjustments you expenses. Even my company's growing at three hundred percent growth and I have several admitted doing that now. We put appalls on hiring also expenses to we realized the depth Then as you begin to see a light at the end of the tunnel or the light at the end of the crisis in them to occur when you think but mainly issued a sliding scale move it forward or backwards you then have to transition your company to what you look like not just a vision of when you come out but how are you going to get there and then for those patients that have the crease leave and are willing to take the risk because everybody says I have occurred. Crucially that are you willing to take risks. Because if you're wrong you could crash your company in the process and the People's jobs you out on how you GonNa break away as you come out of this and you don't do it by sunny stepping on the gas pedal on spending money. You do it by spreading yourself a little bit thinner you pick a couple of areas. That will be your key. Takeaways you emerge out. You continue to do what you were doing well before it was working and then you say here's what I'm ready differently. And then you had the courage to say how am I gonNA outgrow ears? Play chess game out to the end. And now the five or seven things you're gonNA do lead after the crisis and as you come forward and that's the most fun part of all because once you've been through at when she felt that inner confidence that you can handle dyslexia you can handle watching. What happened West Virginia and yet we can perhaps change at this next time you can see what happened to bolster went twenty eight when the minicomputer industry change in. Silicon Valley which was a bunch of unique people out in California. We did not have much respect for. They beat us because we kept doing the right thing. Do Long in an industry but once you've learned how to do that then all of a sudden you can make a difference and I'll keep pushing it back as you do it. I think the leader's job for him or for her is to build a culture as you go through. Have the courage to really go forward as you turn this. Backups were set for a major up term. I think the country has a chance to merge editor 's even stronger but I think it will be very painful for the next couple of quarters Before we start to get it back again. John Chambers former CEO OF CISCO systems author of connecting the dots lessons for leadership in a startup world available anywhere books are for sale. He's also Kelley School of business. Nba Alum and the current founder and CEO of J. C. Two ventures John. We are so honored that you took the time to spend with us here on the Roi Podcast Mad. It was a pleasure. Id Thank you very much. It's great to be back at you in Pittsburgh. This has been another episode of the. Roi podcast presented by the Indiana University. Kelley School of business. I'm your host. Martell joined by the Dean of Kelly. School ID Kezner here on the show. Our mission is to help. Organizations make better business decisions. We'll see you next week.

John Chambers Kelley School of business Nba founder and CEO Matt West Virginia Cova Indiana University CEO Kelly New York City Walmart Ceo Martel Wisconsin France basketball Pittsburgh Elk River West Virginia
Richard Clarke: From presidential inspiration to cybersecurity policy pioneer. [Policy] [Career Notes]

The CyberWire

06:46 min | 9 months ago

Richard Clarke: From presidential inspiration to cybersecurity policy pioneer. [Policy] [Career Notes]

"It's welcome to cyber wires. Career notes podcast brought to you by the university of san diego's master's in cybersecurity programs providing cybersecurity engineering training for real world applications. This is dick clark. i'm the. Ceo of good harbors security risk management. I grew up At a time. John kennedy was president and is coal to ask not what your country can do for you. Ask what you can do for your country resonated with me and so i think from the very beginning i wanted to To serve in government to serve in the federal government. I remember going to the white house says a kid Standing outside and saying to my father. I'm going to work there. Well when i got out of school. The vietnam war was still raging. Was the number one issue that he dominated my life as a as an undergraduate and i made a counter intuitive of response to that i decided i wanted to go work in the pentagon my reason for thinking that way was if only people who wanted to have wars if they were the people who populated the pentagon then we would always have more wars but if we had People who believed in alternatives to war. It might make a difference. Twenty years later and so i would my sights on the pentagon and i walked out. I got a management trainee. Job entered internship job in the office of the secretary of defense. I got to the white house from the state department. Bidden assistant secretary so went to the white house. Fairly high level in the bush administration almost from the beginning I thought we were not paying enough attention to a new phenomenon. But i smelt i detected and some other people to ben that phenomenon turned out to have a name and that name was al qaeda so i always kept al qaeda under watch beginning. Oh probably nine hundred ninety. Two and nineteen ninety-seven They added to my portfolio This new thing called cybersecurity And when they insisted i take it on as an additional responsibility i tried to learn about tried to get books on the subject and they really were not any good books then That were in the introduction to the topic and so. I use the fact that i was a special assistant. The president to call up Microsoft and cisco and semantic in the big names of the day and say I'm from the white house. I really need to understand your company in this issue So i wanna meet with bill gates. I wanna be with john chambers and that worked before nine eleven in the early months of the bush administration pushed to that was pretty clear to me that they were not gonna pay enough attention to al-qaeda And i really didn't want to be left holding the bag And i also wanted there to be a full-time Position about cybersecurity. So i think in june Before the september attacks I went to the national security adviser. In said i want to move from the terrorism portfolio. Since you don't pay enough attention to it. You're not doing what i recommend. I wanted to work fulltime on cybersecurity and they want to create a new position to do that. Eventually it happened and and we did Create the first cyber security policy Physician in the white house new well-staffed. I had quite a quite good staff uh-huh and we wrote a national strategy for cybersecurity which i read the other day and Twenty years on. It's still pretty good. My job is one of being a consultant. But it's a consultant to a diverse group of things. I try to work for corporate boards and corporate leadership to explain the importance of cybersecurity to them. And i tried to work with seaso's to be their advocate And coach and validated. When i started in cyber security looking for that book There would be a good introduction. it didn't exist. And will i started looking for a university courses They didn't exist as i wrote the book and I got logged universities to start. Of course it's like a law the federal money To help university start ciphered programs so a lot of what i wanted to learn. then one couldn't easily learn that and can much more easily. Learn them this cyber wire career notes. Podcast is made possible by the university of san diego's master's in cybersecurity programs cybersecurity newsflash in addition to gumming up the works with malware fishing expeditions. And more the black hat. Hackers of the world are also creating jobs. Let me explain. Cybercrime is causing so many headaches. Financial losses that companies everywhere paying top dollar for talent university of san diego's online cybersecurity engineering. Master's degree program is preparing the next generation of cyber experts. And you could be one of them. Connect with the us team at san diego dot edu slash. Cyber wire mentioned this. Podcast waive the fee to apply.

white house pentagon university of san diego al qaeda dick clark John kennedy bush administration Twenty years federal government vietnam john chambers state department seaso bill gates ben qaeda cisco Job Microsoft al
Investors are throwing money at mRNA and new medical technologies. What could go wrong?

Marketplace Tech with Molly Wood

08:31 min | 4 months ago

Investors are throwing money at mRNA and new medical technologies. What could go wrong?

"This marketplace podcast is supported by equifax as the world's digital infrastructure company equinox enables you to access all the right places partners impossibilities to accelerate your digital advantage together. We can transform your business and changed. The world learn more at equinox dot com this marketplace podcast is supported by pro var a proud supporter of marketplace tech as the leading end to end test automation. Solution for salesforce var helps enterprises maximize the return on their salesforce investment to get a free e book about mitigating risk for teams or beyond visit provan testing dot com slash managing risk. Investors are throwing money at m. r. n. a. and new medical technologies. What could go wrong from american public media. This is marketplace tech. I'm molly would. We've been talking about all. The potential for 'em are innate. Technology means virus detection for all kinds of diseases. Now let's talk about the money because the rush is on to invest in marin a and the whole field of synthetic biology which approaches the body in natural systems as programmable platforms like computers however. The history of silicon valley and medical tech is mixed. You remember theranos and just last week. The founders of a hot biotech firm called you buy ohm were charged with fraud in a similar fashion. John chambers is the founder of syn bio beta a network for entrepreneurs engineers and investors interested in synthetic biology. He says billions of dollars are flowing into the field. Now what you're seeing is a new generation of investors and entrepreneurs coming in who are looking at a whole new set of tools around reading writing and editing of dna and designing and building and testing of biological systems. So you've got to look at the potential for these technologies to do a lot of good in the world not just in healthcare or quantified self or in this case irony vaccines but also for climate change for food production for chemicals and materials. So i think with any technology that the power to do good. And there's a powder do bad but i think with this technology the power to do good in so many different parts of the lives is just huge. Well it seems like there's also the power to ask good questions or ask bad questions. And i wonder if you could suggest to investors who are getting into this field. What should they be asking so that they don't make mistakes on the level of something like theranos or even you bio the reality is that you're basing a lot of our business decisions on trust and personal connection to people that you know and you trust so. I think that the question that you have to ask is do you have that connection to the person that you're investing in in terms of do you trust them and then can that trust backed up with the data that they need to show you to convince you that it's true so i think trust is one thing trust and verify is how i always like to look at it. If you're thinking of investing in a company will find communicating with a entrepreneur. Synthetic biology is a big field that encompasses a lot of types of bioengineering. As you mentioned. Are you worried that there will be such a gold. Rush around emma rene and vaccine development which is great but the there will be so much attention on that there will be other parts of the industry that will be neglected. The bio pharma segment is so big and influential. It is the elephant in the room of the buyer economy. It dwarfs all the other sectors. So yes i'm always worried that the bio pharma segment is going to suck up all the air and all of the money so that means that it does overshadow a lot of the other technology areas like climate change or food production or materials and chemicals as you look though at this kind of moment in history if there is a silver lining to this pandemic. It's potentially that. We've kicked started pretty incredible time around vaccine development around synthetic biology. How big a deal is this right now. I think this boom is very transformative. The main reason is because suddenly this drug that you're putting into the body of this vaccine that you're putting into the body is based on a programming language that programming languages for letters. Act and g or in the case of irony ac u. you g. and by having a programmable medicine that you can put in it means that you can rapidly it right. If something changes for example these new corona virus variants madonna's able to rapidly it right the sequence of the amarna vaccine that it's produced and quickly get out a new version and put it through clinical trials. So i think it's a revolution in the program ability of medicine. And that's why everybody's making such a big deal about this and all of the companies. That are making therapeutic. Suddenly looking at this new modality which we didn't know worked it wasn't until madonna pushed it through the clinical trial and showed that it worked against covid nineteen that this was actually proven to work. And now they've done that. It sped up the development cycle and sped up the amount of money that's pouring into the industry to treat many other diseases. So are we on the cusp of kind of revolution in treatment of diseases and viruses. We are on the cusp of revolution. We're on the cusp of what. Some people are predicting is the next one hundred years of biology. The century of biology and people have been predicting this. There's some wonderful quotes. By steve jobs talking about the intersection of computation and biology. Bill gates has been predicting this a lot of the traditional tech. Pioneers have been looking at biology for the last twenty years and knowing that something big is coming. And i think covid was this wakeup call for everybody. And for the last twelve months so many of the companies have been focusing on tools and technologies to be able to diagnose and now treat these diseases but those tools and technologies like reading writing and editing of dna and designing building and testing of biological systems is going to have an impact on so many different markets. John comers is the founder of syn bio beta and a biotech investor and now for some related links so a little more on what john mentioned about the hundred years of biology and the tech luminaries who have been fascinated with it for years actually sent us some quotes to that effect like one from bill gates who wrote back in nineteen ninety five quote. The dna is like a computer program but far far more than any software ever created and walter isaacson in his biography of steve jobs quoted jobs as saying i think the biggest innovations of the twenty first century will be the intersection of biology and technology and cumbersome wrote a forbes back in two thousand nineteen about the big tech names including bill gates who are investing in synthetic biology. There's a link to that article. At marketplace tech dot org and although silicon valley types are somewhat famous for wanting to act the body think mysterious life extension technology or microdosing on smart drugs like noah tropics or jack. Dorsey is extremely intermittent eating. I'm telling you astro planes people. A lot of these investments though aren't just about the human body comers article points things like using biotech to grow meat replacement from sales like memphis meat does or programming microbes to create synthetic silk or engineering mushrooms into leather. Or okay yeah. Figuring out how to store digital information indiana which sounds like a setup for a future matrix situation or extreme life extension obviously because silicon valley stuff. I'm molly would and that's marketplace tech. This is a pm. This marketplace podcast is supported by rosetta stone building. An inclusive employer brand is not just for aesthetics. It's critical to your future success. That's why over. Twelve thousand of the world's leading organizations use rosetta stones. English language training tools to engage. Top industry talent strengthen d. e. n. i. Initiatives and dr upward mobility for their workforce to learn more visit. Rosetta stone dot com slash training.

syn bio beta emma rene John chambers equifax salesforce equinox molly marin madonna bill gates John comers steve jobs Rush walter isaacson Dorsey john jobs rosetta stone building jack memphis
Success in the Startup World: Why Good Leadership Matters Most

Knowledge@Wharton

18:48 min | 2 years ago

Success in the Startup World: Why Good Leadership Matters Most

"Podcast is brought to you by knowledge award. Leadership is one of the more. Vital components company can have former Cisco systems CEO John Chambers. Those this firsthand he spent twenty years running the information technology giant now holding the position of chairman emeritus. But is now also running his own show as the founder and CEO of J C, two ventures. John is also the author of just released book called connecting the dots lessons for leadership in start up world, which looks at the most important qualities of leadership in this ever changing world and John joins us right now on the phone. John welcome, Dan. It's going to be a pleasure and thanks for the opportunity to talk with you today. Thank you, his somebody that spent six years of my life working in baseball in West Virginia. It's nice to talk to another west Virginian. I might have got your autograph. You know since senators that was back in back in that day. Thank you, very much to go and catch foul balls and Selm that to be able to get into the game the next day when as a young kid, thank you very much for coming on the show. So when you look at today's business, and you look at that leadership. What are the components? What are the things that you think are the most important? We'll I think in terms of the component for leader. That's leading the large organization. Let's say a CEO start up or see over large company or head of a group. It's ability to articulate a very clear vision and strategy where organization is going that is different shaded and sustainable it's ability to build a great team. And that includes developing the team recruiting and periodically rechange in the team. It's culture, which I did not understand how important it was perhaps when I first became CEO, but you never have a great company without a very strong culture, and then the fourth element, which is more important now than ever in is communications and ability to communicate to all your constituencies each of the elements. We talked about in terms of how is your leaders? It's results quality of team. Do they really understand the industry they're focused on their communication skills? How will they walk the talk the culture if you will and ability to outline of vision, and then remaking happen. Well, let me ask you, this you mentioned culture because because culture, really, I it's interesting because it is a concept that really has come to the forefront in the mindset of businesses basically in the last decade or so maybe even even a little bit of a shorter period of time. Why is it do you think though that it has taken this long for culture to be such an important component that leaders think about but companies think about as well, I think it is the differentiator both in terms of the type of talent attract how you keep and how your customers view you. I came into it kind of backwards. If you will at Cisco, I didn't understand the importance of culture, and today culture and strategy to me are equal in terms of importance. And at Cisco one of the reasons that we were so successful and. We literally were one or two and sixteen of eighteen product lines went from seventy million in sales to forty eight billion while I was honored to be there. And people would say we had one of the strongest cultures in not just Silicon Valley, but in the country, and we outlined the culture of giving back innovation excetera new every single illness of every impli that was life threatening in the company their spouse or their children was often on the phone with them even on Christmas Eve, if that's what it required would move heaven and earth to help them when a customer had a problem, we put customers first and we walked the talk because they had and so listen to every critical count in the world every night, we paid our management on customer satisfaction. So we match culture to our whole fundamental strategy. And I think people underestimate that. And it's one of the things I love with the new startups when you get a new young CEO, they get visions to add a t they get the team, and they get the communications and communications another. Area this changed dramatically in the last decade cultures. Usually what they pick up the slowest. And then the fun thing. Dan is when they get it. And they see the results with their employees or with their customers you, and it's just it's part of the teaching and being a mentor to these young companies. Then when when the numbers come out about startups and the success of startups. Why do you think that the numbers of the percentage of failures of startups is so high then all I think it's always going to be the failure startups or probably seventy percent. Plus, the most successful venture capitalists and the world in terms of their funds returning often have more failures than the average inter campus because it take more risk the one or two home runs out of that port folio carries the whole investment. I think this is a period where you're going to disrupt or be disrupted, Dan in simple terms. I believe that forty percent of the large companies in America were around the world would disappear in the next decade because of digitisation and the speed of disruption and artificial intelligence, and and different business models. And so I think the disruptions actually going to excel right? Not worry in the US is the reverse. I think it will continue to have failure rate of startups. And that's just the natural. Process, and you shouldn't be in them. And that's you understand that's going to occur. And it isn't are you gonna make each successful. It's just if you missed once then get up and go do it again. But it's ability to really reinvade yourself each time and to take the risk my problems, the number of startups in the US is almost twenty year low we used to have ninety percent of the world's venture capital than eighty. Now. We have fifty percent. And if you watch the number of AP PEOs, which are really the future indication of job creation this country, and they're kind of tip of your iceberg. If you will during the nineties it was four hundred five hundred year and reach because seven hundred this year, we're excited that it's going to go over two hundred for the first time in three years, but we're trying to generate twenty five to thirty million jobs in the next decade, which we need to. And then you're gonna have a certain number of jobs that have to be created because digitisation destroy others. We've got to get the start up engine going much faster. So. My worry is not the failure rate. My worry is there's not enough in the pipeline. And we aren't skilling quick enough. One of the things you talk about in in the early portions of the book, kind of something you learned as a young boy living in West Virginia and fishing with your dad is the concept of staying calm under pressure, and you tell fantastic story about a fishing trip that you took with your dad wanted you to to relate that story back back down on the river there in West Virginia. Well, it it's fun and you being from West Virginia, you actually know where that river is. And you know, it's it has very rapid runoffs in certain areas that are dangerous to swimmers etcetera, and I was six years old fishing with my dad, and he shared with me, be careful not to fall into the river. This section. It's a good place to fish, but it's very dangerous in terms of its depth and its its speed in the Rapids, and he was fishing about one hundred yards above me. And what do I got to close to the edge? I fell in and I got swept away. Immediately and my dad yelled at me to hold onto the fishing pole. And he kept going that seem to this day running through the water down the side with water going everywhere and each time at at surface and get a grasp of air. I could hear him yell onto the fishing poles and the fishing pole wasn't that nice Opole kind of ugly, actually. But if he was more concerned about fishing pole. Obviously, I was not in a problem. And so I held onto it and I kept grasping for air. And he finally got below me. I'm the Rapids. And then swim out got me and pulled me aside. And then he sat down as my dad is often done with me and kind of taught me a lesson in life. And he said, John when you you fall out into the Rapids. If you try to swim against the current you risk drowning, and if you panic you also risk downing. So what you have to do is deal with the world the way it is to allies that you have to go down with the current. And then look for your chance to get out of the water. And then learn how to get out. And then is I got really? Laxed in calmed down. He put me out in the Rapids. And let me do it myself. And then we took us up to where we started fishing, and he let me fish and mom didn't know this. But he again when a hundred yards above me to send the message that I learned the lesson. And I think that's the lesson in life for many leaders is it's how you deal with your setbacks your challenges. How you remain very common depressure, even though you realize the gravity of the situation. And how you make sure that you're not swimming against the tide of the current in a way that you have no chance to win. But look for how you deal with the situation and get out and then progress from there for it does that make sense. Does it absolutely does? Judge abors is our guest. He is the author of the book connecting the dots lessons for leadership in a start up world. The book is just out utes available in bookstores and online for your purchase right now. John is the former CEO of Cisco systems and now the founder and CEO of JC to ventures. Your comments are welcome at eight four four. Worton eight four four nine four two seven eight six six or if you can't get your phone. You can send us come at on Twitter app is radio one thirty two or my Twitter account, which is at Dan looney twenty one again, the book is connecting the dots lessons for leadership in start up world by John Chambers. The former CEO of Cisco systems, you know, I it's interesting John because you mentioned about about failure. And failure is something that you have said, and we've talked to some people also believe that failure in business as a leader. It's not a bad thing. I think there's this. This mindset how they're that. You can't fail at anything at any point in any period of your business career. But that's just not the case, you can learn so much from an occasional failure. That is true. And if you watch I think, you're more product, you're setbacks than failures and anybody knows you. They've never had failures or setbacks either didn't take any risk at all. Who are is not being honest with you. And I would argue Jack Welsh actually taught me I think he was awesome meter in business. Looking back report decades ago, it was it kinda just goes on a run and many people viewed as as the top leadership team in America. And we were coming up on the most valuable company in the world in Jackson, these at your you've got a very good company. And I knew he was about teach me something I Jack what will take. And he said, it would take a near death experience before you had a great company or your great leader and term I didn't grasp then when two thousand one and the dot com. Bubble hit accurately understood her how also at that time much from own president Israel over the years. The leaders remarkably lonely. How you handle your disasters? Or your setbacks determined food? You are moving your successes and the way I get that across to your leaders. And then I'll come back and follow on the point. Specifically is right about has been listening to spot. They have. Brought they have. Oh, you more concerned about how your children handle their successes of getting a good grade in school or scoring a goal and soccer game. Or you more concerned about how they get knocked down. Things. Don't go their way, they have a problem in relationships except for how they deal with that. And the answer is clear dates affect and once you learn how to deal with a setback, you can coverage much more than life right for me in dyslexic. It was a challenge even though both my parents doctors, my teachers actually in grade school, I wouldn't graduate from high school much less beyond and because I had spatial help in dealing dyslexia. And not to I learned how to take a weakness and everytime, actually, make it a strength. So as you learn for the setbacks those failures, that's how you get stronger each time and the best teams and Silicon Valley contains fed not exceeded before. But learned and burned how to come back, but you're a great one. Because when I talked to the leader. France in profanities nation, I show public radio. Or in the medium. I focus on French to lead in terms of innovation startups in Europe. Very after realize there's going to be a high fail rate failures with courage, not an entity, but you can't come by. And we were very nor back, and it was fun watching eventually this where such a major con. Yeah, they moved. The worst Europe to start out with about one hundred thirty nine forty eight year for decade hockey. Tech venture about two seven hundred forty this year. Right. So you send me thinking people not only understand the importance of entrepreneurship and startups in the job creator for all major countries around the world, but also the willingness to fail which was a mess. Successful indefectible. You also talk in the in the book a good bit about I in terms of being a leader that somebody has to be able to do to embrace change and embrace innovation. Obviously the innovation part. I think is is is a well-known quantity to what we're seeing in business today. The embrace change is still something that that some companies are have a hard time dealing with. They get on this pattern of success. And they they they kind of ride that wave as much as they can until that wave, you know, ends. And the problem is that a lot of times, you know, they they don't they're not able to get that next level of success the end up hurting their business more. So if they weren't somebody or weren't a company that looked to make change along the course of success. The agree. If you think about it in this time period digitisation is going to destroy business models and companies that have very rapid rate. And I believe that forty percents you can use the fortune five hundred or any number you want companies today won't exist in ten years. And what it really says is the companies if you're not disrupting somebody else, you're gonna get disrupted you grow your die. And you gotta have the courage to change. But the most difficult wants to change to your point, Dan, the ones who've been most successful. And when I talk about what causes companies that fail. The number one reason is they missed the market transition usually a business model change combined with technology change. But the number two and they keep doing the right thing too long. So it's CISCO's an example would just add them. But I down here we were very except for our company we had courage to go into every switching to do. So. Important what that really means. But we went into an area that others had done, but only in single products, and then we went from dotting and switching into wireless capability in in to voice in the data center and into security, and so we kept reinventing ourselves, and as we did did our core product, get better our outcomes got better our competitors made mistake of pain, but the product is opposed to book outcome, and so its willingness to change to say, we aren't techy company building bothers, but we found any bit of synonymous with the internet. That's going to change the way the world works in place. And then we are that vision and made it happen. And we were one or two sixteen of our major eighteen product areas. When I was there at Cisco for that twenty five years, so it's the willing to disrupt put a different way all my competitors. At the beginning, the wealthy synoptic the cable Tron equals good companies. Very good. Leaders very good products. But they've been disrupted. They didn't get market transitions. Right. And even big companies not be 'em HD deal. And then who came at us. We're not successful. Because we kept disrupting and Barker transitions not doing the right thing. Too long. Perfect equa spot. We made mistakes point you get strong mistakes, you from you go again, I wonder if you think because of how I in this day and age we have so much change in technology and big data that is playing in is that whether or not we're almost going to see a mindset change among leadership that you won't see as many leaders missing the missing the ball to degree missing that change. Do you think? That's that's a possibility. Now, I think you may be right. But I I really think it's like I think we are trained to do incremental improvement. Not think exponentially, I think the changes changes Corrine so badly that many. You leaders when they start to change without outline at Christie's in Hispanic you. And how they're going to get there. They won't play out the out. They won't make the press release. What they look like three five years out and execute with the speed is needed. So actually think the breakage is going to increase both of system properties start startup companies. And that creates opportunities also says, it's different mindset now as young leaders, the millennials come out of school and they're trained more in this than overtime booking out at decade fervor, then that might very well be the case that at the present time, I think the actually be more challenges and successes. I hope I'm wrong on it. But that's what I've seen over the years. John unfortunate at the top of the hour. Thank you for coming on and talking about the book all the best with it. And look forward to talking to you again down the road van. It was a pleasure. You have a great day. Thank you, John Chambers. Former CEO of Cisco systems now chairman emeritus of the book is. Connecting the dots lessons for leadership in startup world. The book is we mentioned just came out. It is available for you in bookstores and online for your purchase today. For more insight from knowledge Morton, please visit knowledge dot Morton dot U, Penn dot EDU.

John Chambers founder and CEO CEO Dan looney West Virginia Cisco Rapids chairman emeritus America baseball US Selm Europe Jack Welsh J C Twitter
085 Justice Deposits: How NetFlix, Twitter & Costco Are Leading Conscious Capital & You Can Too

Lochhead on Marketing

17:50 min | 8 months ago

085 Justice Deposits: How NetFlix, Twitter & Costco Are Leading Conscious Capital & You Can Too

"Thanks for pressing play. In june of twenty twenty net flicks announced it was moving two percent of its cash. Equal to about one hundred million dollars to bolster black owned and black run banks allowing these banks to lend more because as you know the way this works is pretty simple when we make deposits bank that allows them to make more loans since then twitter announced its plan to move one percent of its cash or one hundred million to community development financial institutions whereabouts. Sixty percent of total ending is targeted towards low income. People or places. Costco has pledged to move. Twenty five billion dollars in deposits biogen has pledged to move ten million and pay pal announced plans to move five hundred million. I'll toll the early adopters in this movement that we are calling. Justice deposits have pledged to move nearly eight hundred million dollars. An amount that is nearly equal to twenty percent of the current total assets held today in black and black run banks you see justice deposits inject capital into banks so that they can turn around and lend more. It's just that simple and many have had the simple ah-ha that there can be no equality in america without equal access to capital and it turns out. It's very savvy marketing move. According to harvard business review sixty percent of americans say that brands should take steps to address the root cause of racial inequality and fifty percent of americans go further and say brands must actually educate the public about this matter. And speaking of hp are this episode is a companion to an article we just published on the homepage of h. b. r. dot org. The title of the article is could gen z. Consumer behavior may capitalism more ethical and for the article. We did some primary research in around sort of wear. The headset of american customers and consumers are on this exact topic. That i think will knock you over and open your eyes because it did so for us. So let's go. Deep on the power of justice. deposits. My friends at oracle net. Sweet are the world's leading cloud platform visit net sweet dot com slash different today and learn how you can build a legendary platform for your business. Net sweet dot com slash different and my friends at spunk are the leaders in data to everything bringing data to every question every decision and every action visit s p l u n k dot com slash di the number two and the letter e and if the topic of justice deposits of interest to you. Then you might wanna check out the Limited run podcast series I've done with navene. Chadha from mayfield. One of the top venture capital firms called conscious. Vc legendary podcast. It's called conscious. Vc and a recent episode. We had the legendary john chambers on he was the former ceo and chairman of cisco. And i like to call him the prime minister of the internet because without john who knows anyway. That episode is a stunner and we talk about the concept of conscious capital on that episode with john chambers former chairman and ceo of cisco. Check it out. Now heyhoe let's go. This is long head on marketing. The podcast that helps you develop lens for what makes legendary marketing legendary hosted by christopher lockhead three times. Cmo godfather category design and a high school dropout with the marketing journal. Calls one of the best minds in marketing. And the economists calls off putting to some all right so the topic of justice deposits. As i said off the top We just recently wrote an article. For the harvard business review it is It was launched on their homepage. And i had the privilege of writing this article with three legendary men. My brother from another mother and often collaborator. A man who has written more for h. b. r. on category than any person. Eddie you as well pastor dave ferguson who is an extraordinary christian leader and we did an episode of follow your different with him awhile ago. That is a very different conversation about god. You might be interested in as well. Pastor quinton murphy also collaborated on the creation of this article. And if you go to the show notes at lockhead dot com you'll get a click through to the h. b. r. piece itself aright so why the justice deposits movement first executives and leaders of all kinds are recognizing the horrific injustices and the economic inequality endured by african americans. And here's some fascinating. Data home equity which across the board in the united states is about thirty five percent of the average household net worth. So it's thirty five percent of the net worth and yet african-americans. Face mortgage denial rates. That are twice as high as white americans and they pay more for their mortgages. Now it turns out black. Owned banks are a great solution because sixty seven percent of their loans african american households versus the average of one percent of loans in america that go to african americans. It's just review that again. Black owned banks sixty seven percent of their loans go to african american households and the average american bank one percent go to black people and for the record according to the us census african americans make up thirteen point four percent of the population and yet. They're only one percent of loans from all other banks. That's a problem because what this creates is a lack of access to capital and that has massive ramifications. Because i believe there can be no equality without access to capital capital equals opportunity and banks cannot lend what they do not have and so the more money black owned banks and black run banks have the more they can lend out. Here's the other awesome thing about this idea of justice deposits. They are an easy and relatively freeway drive. Massive social change. Is he in america. There's this organization called the fdic the federal deposit insurance corporation and It's an insurance company. Is the name suggests and it. Protects deposits in banks up to two hundred fifty thousand dollars. So if god forbid you had two hundred and fifty thousand dollars in a bank in that bank ceased to exist the government would protect you up to that number so if you move two hundred and fifty thousand dollars out of a traditional major bank and move it into a black owned bank. There's literally no financial risk. And here's another thing. As i mentioned up tom we did some primary research to understand how americans view this issue of justice deposits and we recently conducted a national research project. Here's what we discovered. One fourth of americans were willing to ask the company. They work for to move to justice. Deposits one third of all members of a religious or faith based community were willing to ask their faith based organization to do the same and move some of their deposits to justice deposits as a side note. I can't help it it helps. It raises the question. Where would jesus bank But i digress additionally In our research we discovered that fifty seven percent of accredited investors. These are people. With an annual income of two hundred thousand or more in a million or more in investable assets they're called accredited investors that fifty seven percent of them were willing to move at least one percent or ten thousand dollars of their assets into a black bag now. Here's some stunning math that we did. If faith based communities corporations and accredited investors in the united states of america shifted one percent of their deposits into justice deposits that would result in one hundred and twenty five billion dollars being shifted into black banks. That's more than twenty five percent. Excuse me twenty five times. Not percent twenty five x twenty five times of the deposits that are currently held in every black owned and black run bank in the united states. Today let me make sure this is clear. One percent equals one hundred and twenty five billion and so the group of us who wrote this article are asking you to join us on our mission. One hundred twenty five billion feels like a pretty big quota. But we're signed up for it. And so i'm asking kind of begging him to move some of your assets into justice deposits and to encourage the companies and organizations that you are a part of to do this So that that's what i'm asking for. And the has if enough of us do this personally and make it known that the organizations that we are part of and the brands that we buy from move to justice deposits. We can make this happen and maybe it goes without saying. But i'll say it anyway if collectively we were able to move one hundred and twenty. Five billion dollars to block owned banks. We would change the future of america so please help us get that done now. Also you should be aware particularly if you're a ceo or cmo and even maybe a cfo that the younger person is in the united states. The more they care about conscious capital. And i think it's time we get busy on conscious capital in our study. We discovered that americans motivation towards conscious. Capital is three to four times higher among americans who are under the age of forty five fifty six percent of americans under the age of forty five. Who are part of faith based community said that they would ask their community leaders to follow the The justice deposits movement verses only thirteen percent of members of faith based communities. Who are over forty. Five isn't that interesting now. It also turns out that those numbers were true regardless of the type of faith or religious group now. This sort of is even more extreme. Among wealthy americans eighty five percent of credited investors under the age of forty five said. They were personally shift at least one percent of their assets or ten thousand dollars into justice deposits versus only thirteen percent again for those over forty five. So that's pretty significant. Just think about this for a second. Eighty percent of wealthy people under the age of forty five said they are willing to move to justice. Deposits with at least ten percent with at least one percent or ten thousand dollars of their cash deposits. What i think. This means for ceos cmo's and even c. f. o.'s is we need to pay attention the next generation Really cares about this stuff. And it's very clear to me and i think it should be clear to all of us that every company today needs what you could call a conscious capital strategy. That's why navene. And i wanted to do the podcast about conscious and i would posit to you that if every company needs a conscious capital strategy that justice deposits might be the quickest and easiest win here because this isn't a redistribution of wealth. This isn't gonna cost a company or an individual any money. All it is is take some of your cash and move it to a black owned bank. And it's protected by the fdic and most banks are paying roughly the same in interest rates so this is not a redistribution of wealth. This is not a gift. This is not a charitable thing. All this is is a equitable way to inject capital into part of the economy. That needs it at pretty much. Zero opportunity cost for companies for church's for profit organizations of all kinds for government agencies as well as for individuals with pretty much zero risk because of the fdic. Now a gal name margaret anna do ahead of urban investment at goldman sachs and. She says quote to close the racial wealth gap. Private capital has to be part of the solution because it sits at the center of wealth creation in our country and quote. So it's clear. Justice deposits are great thing to do. They're adjusting doodoo. There's something that people and companies do if they care about equality and for businesses and faith based communities who fail to lead on this. They run the risk of losing out on the next generation of customers and consumers in members think about this for example net flicks. Who's leading here. What does it mean well. Because of their leadership on justice deposits as younger consumers move off of grow up and move off their parents net flicks plan. They have to buy their own well. If netflix's viewed as a leader on justice deposits unconscious capital there endearing themselves to this massive new generation at the exact time where they need to take on their own netflix. Subscriptions so from a purely business point of view netflix's showing himself to be pretty smart here similarly from faith-based point of view it turns out that the largest churches in america have twice as many as ten dis under the age of forty five as other churches so for those churches to grow they have to have a conscious capital strategy. Just like the businesses do and i would posit to you. That justice deposits are legendary. I move because today. What you do is actually less important than how you do it. All right we would like to thank the good folks at the harvard business review. Check them out at h. b. r. dot o. r. g. for publishing article On justice deposits. My friends at trinet. At dot net have been building legendary be websites in silicon valley for over twenty years and they will help you conquer your category checkout autrey dot net today if you live in australia and you want to do some legendary marketing and advertising checkout my friends at rapid media rapid media dot com that. Au my buddies. At category design advisers have just launched a new category designed set of one zero one videos with my brother from another mother. Co-author play bigger himself. Kevin meaning checkout category design advisors dot com slash blog and some gift ideas. How about number one business. Top one percent business bestseller play bigger pirates dreamers and innovators create and dominate markets. It makes a wonderful gift for every entrepreneur and marketer. You know another book. I love if you think conscious. Capital and justice deposits are important. Check out a book by my buddy christian. Sarkar co with the legend phil coulter. The book is called brand activism from purpose to action. Check it out wherever you get legendary books and my friends at one. Life fully dot o. R. g. r. the nonprofit. Helping you dream plan and live your best life all right. I need your amorn reward you yes. I don't know if that's a word. But i'm going to do. Anyway that the craters podcast were absolutely consuming libations and this odd cast is a sole property of the head cast network. If you like it enough to listen why not share with your whole company or team remember podcast of the greatest gift you can give and books are probably the second grade is The second you can get today's information's provided you solely for informational purposes. Please consult your lawyer. Shamanistic cat dog hen bar or bartender before acting on today's episode remember. Don't be lame. Get out of the passing lane previous drivers. I'm talking to you please. Don't forget to tip your wait staff. We are edited and produced by the goat and the greatest of all time. Podcast at producer. That's jason filipo. Check out his podcast. Grumpy old geeks sarah knox and jamie j. legendary technical execution and they build lockhead dot com show notes by diane bossio and candy dan. He keeps all the trains running on time. Remember that tom waits was right listened to k. d. lang stay healthy stay safe and stay legendary and the thought. I'll leave you with comes from me. And i say legends may justice deposits.

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John Chambers - Pattern Matching, Playbooks, and Winning Product Categories - [Founders Field Guide, EP.6]

Invest Like the Best

59:57 min | 9 months ago

John Chambers - Pattern Matching, Playbooks, and Winning Product Categories - [Founders Field Guide, EP.6]

"This episode of founders. Feel god is brought to you. By microsoft for startups microsoft for startups global program dedicated to helping enterprise ready to startups successfully scaled their companies. The program has been around for a couple of years. But i recently became intrigued. When former invest like the best guest. Jeff ma took over microsoft for startups provides companies access to technology including azure cloud. And get hub. Coupled with a streamlined path to selling alongside microsoft and their global partner ecosystem microsoft startup says it very compelling approach to working with startups and driving their long-term business value. If you're a founder running a b. two b. company targeting the enterprise. You should definitely check them out. At startups dot microsoft dot com to hear more about the program. Stay tuned at the end of the episode to hear from me. Jeff ma and grow partner som- motamedi this episode is also brought to you by vanda. Does your start me to sock to report to close big deals or do you already have a sock to report and want to make it. Easier to maintain vantaa has built software. That makes it easier to both. Get and renew your sock to. With vantage continuous monitoring solution you avoid hosting auditors on site and taking screen shots to prove that you're compliant so you can focus on building your business fanta partners with audit firms foul your sock to report directly inside advance at a fraction of the normal cost. Hundreds of companies including more than one hundred y combinator businesses are leveraging bantus today to streamline compliance and focus on building their businesses founders field guide lizards can redeem a one thousand dollar off coupon advanta dot com forward slash patrick. That's advanta dot com slash patrick alone. Welcome everyone i'm patrick. O'shaughnessy this founders field gut founders field guide is a series of conversations with founders ceos and operator spilled and great businesses i believe we all builders in our own way in this series is dedicated stories and lessons from builders of all types you can find more episodes at investor field guide dot com Patrick o'shaughnessy is the ceo of shaughnessy asset management all opinions expressed by patrick and podcast. Guests are solely their own opinions and do not reflect the opinion of o'shaughnessy asset management. This podcast is for informational purposes. Only and should not be relied upon as a basis for investment decisions clients of a shaughnessy asset management maintain positions in the securities discussed in. This podcast i guess this week is john chambers. John was the ceo of cisco from nine hundred ninety. Five two thousand fifteen for he helped grow cisco from seventy million to forty billion dollars in annual revenues. In this conversation we discussed the best business lessons. He learned from longtime gc. Oh jack welsh his key lessons from acquiring over one hundred and eighty companies for cisco pattern recognition and play books. Capitalizing on market transitions enabled by new technologies. The value of team offsites and a lot lot more. I was immediately drawn into john's magnetic personality. And it's easy to see how he was so adept at running a forty thousand person company for two decades. I hope you enjoy this. Great conversation with john chambers so john i was toying with how to begin this conversation for everyone to hear and i thought a really need entry point would be the observation. You told me about from. Jack welsh that you need a near death experience as a company to become a great company. Can you walk me through that idea. And the episode for you. Jack welsh a ge was one of the greatest business leaders of the generation in front of me. And i'd say many people would say he was the best he did. Many things will but one of the things he did was benchmark companies learn from them and uc when he sent his teams out the benchmark companies. If they got one idea from the company it was great when they benchmark cisco shocked. They came away with twenty two areas. They wanted to emulate and learn from and direction and jack welsh even though he was not a technologist at all understood the market transition going on so we became good friends and developed trusting relationship in the mid nineties and we were on our way to becoming the most valuable company in the world. I was talking to jack and he said john. You've got a good company. And i said i know jack that you're baiting me on this. I think we got a company that is pretty close to becoming a great company. What am i missing. He basically said john near death experience. And as i've gone through some tough times now rattled off the economic recessions etc. And he said no john until you go to a near death recession setback type of approach. You will never be a great leader yourself because you have to question your own ability to lead your friends who sunny turn on you. You've to go through that and your company has to go through it as well. So that's one of those things when you hear pieces of ice ugo. Patrick at was good advice. Bat probably not. I'll put it over to the side. Two thousand one the dot com bust. He was exactly right. It was the hardest year my business career. We had never missed a forecast with created ten thousand millionaires in our company. We were on a roll with run. Every word imaginable as a company and all of a sudden people were questioning. How do we go from the most valuable company in the world to a company. Should i even be leaving the company. It was a tough year for me. We lay off seven thousand five hundred people very painful. These my family. I knew many of them very very well personally and so. It was the year that i felt that. I did not do a good job leadership them he called me up at the end of two thousand one. He said john you now have a great company. Dismay surprise you. You're now a great leader and this is the best. I've ever seen you execute an essay. Jack you're probably the only person that even say that because many people who believed in me before and believe there are leadership or sunday questioning. Can we do the job well or not he said. Now you'll see this play out. You add much stronger company. You'll come back better than any of your peers and canley. You'll be a much better leader. I said you're going to be the only one that ever tells me this year was two thousand one of my best usership year ever the he was the only one that said that actress but his point was a good one and now try to do that with my young leaders. I've tried to remind them that. They would develop more stress than the good times. And i try to give them the comfort level even a little bit more gently jacket with me about as you go through this stuff tom. Here's what the ups and downs will be like that. Hits in your stomach where you worry about. Are you the right person to lead this. Your ability to motivated team when she didn't provisions in place so that is what leadership is about. It was something that probably is one of the best pieces of advice. I ever got as both a leader and i guess just more generally how were you in two thousand two the most different than you were in one thousand nine hundred nine having gone through that near death. Experience will attack and expand the question a little bit. How we handle the challenges. Two thousand eight the great recession. What i learned from my mistakes in two thousand two thousand one and that was keep doing the right thing too long becoming way too dependent upon numbers which never failed me. I mean patrick. I can tell you based on the first week of a month how the quarter is going to go and probably a year ago based upon pattern recognition that went seen around the world number of new orders etc. We knew every order within thirty seconds that occurred. We knew what the forecast where we could compare it to the exact same time. The prior years etc seems foolproof. What we neglected was the psychology side of this that the stock market was dropping in two thousand. That there is an indication. Something wasn't going right. And i should have spent more time with the customers around the world to understand it because once i get my trip in january of two thousand one. I realized that it was going to be the hundred year flood. I made the mistake of using the term with the press which they beat me up on pretty hard slim's just cisco but as we know it was not in terms of direction so two thousand eight we will use them but data but a lot more time with customers asking about trans accenture. We saw that coming one year earlier in our summer afford the economic downturn all of a sudden my pattern on my numbers were really good but one group of key customers aida financial institutions suddenly slowed their ordering down an oa by about twenty percent off the normal order rates. But as all of them at the same time. And i called up the ceos. And because i knew him well said something going on here. I need to be aware of and they said no. We're just a little bit cautious at the present time. We think everything's fine. Eight out of eight is in caution that is then so we prepared ourself for an economic downturn and refroze expenses. We prepared how we would navigate through this. And nine months later everybody was in that downturn and had already -sition ourselves of the future and were already playing offense and we came through with unbelievable strengths including loaning billions of dollars to the automotive companies. That time no one else would give them money to purchase their equipment. We build a relationship and trust because we had the financial strengths to do it and we were positioned expecting problems long. Story short is not only. Did it navigate through that better and once again we broke away from our peers and every downturn week amount of stronger than our peers and mark sharon we gain loyalty of customers entrust on our culture that no one else have and company cisco still has that to this day because of how you interface the customers during the toughest time and their survival dominant way that no one else did all parallel that goes back to buy challenges as a young person almost drowned. When i was six years old and i was a competitive swimmer that age but my dad not fishing rapids west. Virginia he said john. You've got to be careful here. This rapids really bad and span feeder but did not get too close to the edge. He said i'm going to be efficient up here. A little bit of you never told me to be cautious. do want. You'd be very cautious. Six zero do. He started to catch a fish or wanted to see. If i could get the lure out further i got closer and sure enough. Fm the minute i went in i knew i was in trouble. I mean the rapids plummet need knocked me head over heels and as i finally surfaced for the first time in the rapids and i was just getting started in them. My dad is showing me from one hundred yards away. Hold onto the fishing pole and each time. I'd surface adhere seeing running down the side of the bank. Trying to catch up to me and yelling. Hold onto the pole. And i just got knocked up skinned up pretty good through there and finally he got below me and was able to swim out and pull me in. I was a little bit shook and he sat down he said. Do you understand what what just happened. I said the fishing pole. He said no what you did. You didn't panic. I use the folks of fishing pole. Will you to focus on something you could control so that you let the rapids take its course and then i could come out and get you. He said in life as you fall into these challenges you focus on what you can control influence. Do not swim against the tide of the current. Because you drowned. You have to learn how to get out of this yourself. Once you've been through that you know how to teach that she know how to handle the experience Remain focused on. Hymns wants an amazing story. I'm glad that i didn't hear it. The first time we spoke. Because it's so poignant and so interesting after a member get yelled for diving right into the middle of these conversations and not giving some framing those listening and for myself. I'd love you to begin by telling me a bit about what you had done. Up to the point that you joined cisco in your career sort of the formative experience you had and then what that business looked like when you got there. Because i think what's so unique about your experiences cisco is there. It was established but by far the majority of its absolute value market cap happened under your watch and plenty of lessons to. I'm sure gleaned from that experience but we need the setup so going into that experience what were the formative pieces of your life in career to that point and then what did it look like when you got to cisco your second. Part of the question was not just your business career. It was your life on it and your experiences and then the business career that set it up and then what do we find it. Cisco in that sequence. I was a product of two doctors learned from the very beginning the importance of equality in life and and there were all equal in life so no matter what happened. They knew how to fix this in terms of the direction. But i had a problem reading in the first and second third grade and it was severe and my parents would read with me every night but much like somebody who is play sports a golfer or shooting a basketball. If you have something this basically wrong with your swing your shot. It's really bad practicing more with that. Flaw only makes it worse and makes it very difficult to fix later and so my parents once they saw is happening in school kids would laugh at me when i read because i would lose track of where was an turned out i was dyslexic. And that means you often read right to left as opposed to left to right. It's emotional you lose. Confidence would be an understatement. And i heard the teachers talking one time from a distance that i may not not only go to college graduate from high school. My parents did figure this out and they got a teacher. By the name of mrs anderson to really helped me learn how to read effectively and even though the term dyslexia wasn't prevalent. She knew i had a learning disability and she taught me a series of techniques over two days a week after school for three years. How to deal with it once. I learned the work around and then later in life learned that you can take a weakness and make it a strength whether it's public speaking or the fact that i can't do things surely can go. Abc at recognition and outcomes really quickly picture the whole thing make it a strength second thing in formative years. I grew up in west. Virginia where we were the chemical center of the world will carbide. Fmc dupont six thousand engineers from west virginia. Smartest technicians think of that as the silicon valley of the world in chemicals. Were now as growing up in a hundred twenty five thousand coal miners and a very prosperous state more millionaires west virginia then the whole united kingdom did but because we didn't change. We didn't make changes. We fell from grace. Today we're number forty eight forty nine hundred fifty in almost every category then whilst watched the equivalent of silicon valley in boston one. Twenty eight with mit. At the heart of that like stanford is out here. And i'll watch this lead. The minicomputer industry with deck and wang data general and thousands of computer technology companies and feeder system supply chains groups and we went from the powerhouse of the world to almost nonexistent in technology computer industry. Because we didn't change all those jobs were lost and gone forever. So i've seen when things don't change. So i went to. Ibm mainframes big iron proud of it etcetera ibm didn't change displaced by computer players. Wang data. general excetera. They didn't change place by clients servers. They microsoft intel's the world they didn't change replaced by cisco the internet the internet it evolved the cloud etc so i've learned how technology changes ushered business changes in a unique way. And they're doing the right thing to belong to june as much trouble as during the wrong thing does. I was a product of all those so when i came to cisco the first lesson learned is i was never gonna get the interview at cisco when i decided to leave wang. We were going through a series which lasted a year layoffs. Almost every three months and i did not feel. I could look for a job at the time. I was laying off people now organization. That time is running the us organization about ten thousand people. When i told the ceo that. I've lost confidence in the direction. It's time for me to leave. I thought i'd have to do is send out resumes and way offers to come in. It was really humbling experience. No offers came in. And i had a pretty good track record experience on it. That teaches you the importance of relationships fast. For two hundred and twenty days later. I had twenty two offers either in hand or close to being an hand. Twenty one of them came entirely to france. Networking helping i had the search firm who had the search for me that ended up having to search for cisco as well when it turned out one of the cisco employees who had worked with g twelve years before can years before abby am and i work with him at wang and i helped him out of a tough situation. Just because was the right thing to do. I didn't even know years. At cisco he called up my wife and said. I know the john look in here in the valley. He's interviewing at the wrong companies and he needs to be the ceo. Cisco return from grueling trip out here on the west coast elaine. My wife asked me how to go. And i said it was brutal but regaining some offers. She got the job for you. Company called cisco. I didn't even know what they did. But the takeaway there is your product. Your currency is your track record relationships and trust and when you use those three consciously or subconsciously that often determines your future impurity because of how. I tweeted somebody before. I get the job at cisco and purity because of having seen the experiences so much i been through it i was able to share with the decision makers desisto. Why should be there next. Ceo and they were kind enough to give me the opportunity. At that time it was only four hundred people seventy million in sales. The group was very effective very town group but it was a leadership team that did not get along and didn't like each other. The almost had to at times get between them in terms of fistfight. They were very customer oriented. I was fortunate enough to understood. Having seen the movies are transitions bad with need evolve. The leadership team that would need to move rapidly and ninety to focus them on outcomes and made a bold statement that the internet was going to change the way. The world works lives place and cisco's can be the key player there. People said you build routers you do. Techy stopped between researchers on campus. What do you mean is going to change the world. So that's what cisco is like when i got there great product by the way but it was more a technique products. I hope to evolve. Were some really talented people around me how you evolve the corporation. We developed recruited some of the best talent in engineering and sales. And we did one hundred eighty accusations and we took it from four hundred people to seventy five thousand people. Seventy million in sales to forty seven billion number one or two mentality stole deaf. Jack welsh Unless you be the one or two players of cena it. Most companies are only one or two in one product category. We were number one when i left. Twelve product categories so my experience in life and knowing when to focus on market transitions competitors and technology transitions again not competitors. When you get the two combined that's when you can really break away. So that's what i learned in life. It's what i learned from the experience. And i learned but you do very well tell stories to remember points opposed to take to the bottom line which i didn't see very net. You're the five takeaways one. Two three four five. You got it. Let's go it's much better. If you tell the stories so people understand how you think and how you balance one of my weaknesses. I will often. I'm doing an interview. Like an with you. With one of my young ceos our show that i trust in my ceo that i'm sponsoring in a way to be able to share with the interviewer yuri strengths and his weaknesses or her weaknesses and strengths. And then i asked the question. What is the one thing or two things you like. Best about what. I bring to you as you strategic partner as well as an investor in west the one or two things you need to improve on all of them were remarkably good on their answers and i did at one day with one person best person shadowing me each one of them gave a different point but the one who hit home. I thought the most said john. You tend to thank and half comes in you. Connect the dots quickly and you go. Ab z. You get there so fast that you can lose people on the way and we have to slow you down to tell what should we look for on the way what changes have to occur so we need you to slow down. Is you teach us how to go forward on the direction he. They were absolutely right so another lessons learned for the listeners. Ask people not only. What are you doing right where you add value whether it's your own people report to your peers or giving back to society but also asked constantly. What do you need to do to improve. There's so many questions and follow up the one. I want to stick to early. Is this idea of pattern recognition. You brought it up a few times. I think it's something you are naturally endowed to be good at. But also i love the negative lesson of watching places and companies and people that don't change and the impact of that. Can you describe the role that pattern recognition played. Well the pattern recognition. I in the numbers the ability to be able to see the patterns based upon how a order rate went and a given day of any month in a given week of any month any quarter a given quarter in a year and see the patterns so accurately that for forty quarters in a row. We not only didn't miss. We were plus or minus always at the midpoint or above and the range the market even though eighty percent of our business new every quarter so we not only hit our year forecast. We hit the quarter forecasts. Always at the number. Usually two cents above people said well. How do you keep doing that. And i was kinda may. Somebody didn't go to the bottom line. Just take whenever four guess. We said an ad. Wendy do benny's bushehr and that's probably what we're going to do. But it was that pattern recognition that allowed us to spend money during the quarter and be able to develop in ways that others did not pattern recognition that there is a problem or an opportunity we saw at the very beginning which we dan adjust appropriately to. But it wasn't just at the top is all the way impera down through the various engineering and sales arms. They were able to see the numbers so accurately they knew what they needed to change to crack the headed time on it. So that pattern. Recognition is so key the pattern recognition. I've always been driven by customers. There was only one steve jobs. He just knew what to build how he did it in union. I knew him. Recently will always were amazed at still took in seven years. I short shortcut. That i get an idea of a market transition in by new technology and then go straight to customers and say what do you think so pattern. Recognition amplified by listening to the right customers at the right time on what they think. Either on the issue or the company allowed us to do one hundred eighty acquisitions with the highest track record. I think most everyone would ill. In the high tech industry they're modeled after what we did at cisco on we were machine on enquiring and we had the playbook which we haven't talked about patrick but we ran play books on everything we did from acquisitions to be in one or two in a product category. Two how you digitize a country etc in terms of direction so it is that pattern recognition than put into playbook that allows you to move speed. That is not a simple issue playbook pattern recognition than replicating that pattern much like a great sports team who runs the west coast offense or a warriors team the past one hundred thirty times per game which is more than anybody is ever done in history and wins ninety eight percent of the games when they pass a hundred and thirty times on it watching the patterns than replicated in playing it through and being able to tell those stories again on what works invites affable. You mentioned the crazy amount of acquisitions. I think there was more than a dozen. There were over a billion dollars at cisco during your tenure. I'd love to hear more about this playbook that you referenced sort of what the mental models where you had for an acquisition where should emanate fit in the toolkit and what were the best lessons learned doing so many. I'll try to go in the reverse order that you ask. I is when you try to do something that has not been successful in nineteen ninety three. When we did our first one acquisitions had tech. It failed miserably and we knew that we tried to do it with cubby. Get the same result unless we did it differently. Secondly a lot of smart people who worked hard to do acquisitions they failed. So if you're gonna do the same thing they are and think you're smarter just going to be wrong. We did a steady of. Why do we think the company's fill and what would we do different in the approach and the playbook that came out of it is very simple. I just don't do an acquisition that isn't re strategic to. They're really hard. Secondly understand what you acquire protective all cost. If you were bank of america being acquired by nationsbank out of these coast what nations was acquiring bush purely brand and geography. They wanna burn people. They lost a fair amount of the people but they achieve their financial goals. When you're in high tech what you really acquiring his engineers and arc position and if you don't keep those engineers and the sales teams etc. Then it's going to be a bad financial outcome for you most acquisitions. When companies acquired their attrition rate after golden handcuffs comes off for those who don't have golden handcuffs runs over twenty percent a year of their people. So it's a bad outcome so we would only do an acquisition where we felt we could keep the people and we looked at it culturally. If there wasn't a match on culture we walked and most people don't even think about is match on culture if you haven't got a similar culture you're not going to keep the employees. Acquiring is the employees next generation product is going to be a bad financial result so we walked from acquisitions that as we got into the evaluation process. We realized their culture different than ours. They weren't customer focused. We are customer focused but fanatical extent. You could argue. Is that right or wrong but for us. It's who we were customers. I our family employees. We are a family second. We believed in sharing the success of the company with our employees very broad range. We can keep that at the top could have done it easily but we felt if you share the success i you would be much bigger and more effective company and other way the senior execs will be taken care of if the company successful and so we dealt with that type of philosophy and i'd every position on no you've got ugly spots will probably find him but don't let us be surprised so tell us where the problems are and we're gonna choir you anyhow but don't let us find ourselves so in you situations where i found marseils one on stays in options and one where they let information out to the market. That had either come from the investment banker the company even though both of those would have been good financial for we walked and that was a call from the top in terms of the approach. So it is about how you think through these analysis. How you walk that pattern of what works in does not work. When that i missed one. Six hundred million dollar acquisition of a company called flip. It was a super hand held camcorder. That was so unique in the market. And i'd try be consumer market once before then tried once after flip filled all three but with the flip already had the set top boxes in your house when the cable companies or the service providers bringing it in that we were working with the content companies on. How do you add value to that. I felt the video would be even more home generate in the future. And if you could use the camcorder. Dying seth boxes architectures logical move for us and we. We acquired the company for six hundred million. We ran our playbook got off to a great start. People got the market fit. Then steve jobs held up a flip product on stage and said this is an amazing a good product and i want to compliment cisco on us. Mit what comes next. He said i'm gonna give this to you for free. He put it on the iphone for free and he hadn't and i should have realized that the product differential adl was not the physical product. It was the software in architecture and the ability store video in the cloud. And i should have moved earlier to go to all the major manufacturers a phone and say we need you to put the fifth day billion earphones that us be the cloud behind this and a small royalty and maybe we would have outmaneuvered apple in terms of the execution. So i got knocked down. Most people would say well. Your growth is still there. Wants to fight the battle out the jets game out not find a way to win. Apple is just too good and once they closed on us for free my business model would not work so we closed at six hundred million dollar down on it in three months and every time people hold out flaws about cisco's acquisition strategy. They say well the example of failures flip and this is why some companies are not good at querying cisco pretty was not on this list. And i go wait a minute. I told you if we do this world class two out of three acquisitions are gonna work. Which means went out of three. You're going to fail. I'm done twelve billion dollar plus acquisitions all worked at least for the first three to five years. Afterwards nafta that stuff their internal development for this in your beat me up on a six hundred million dollar acquisition in into acquisitions. We did this year one for one point. Two billion one for three point. Two billion both worked out. It's two out of three. The best ones worked out. Tell me again what i did wrong. And i realize at that time you're always gonna be criticized more from your missteps or you mistakes or the ones that didn't work out then. You will the successes. That's just part of leadership get used to it. That's never gonna change so those would be some of the lessons. Learned good and bad what you need to do. And the trade offs six etre. I love the idea of the emphasis on retention of the engineers post acquisition as the key differentiator in a good acquisition. That's a really interesting perspective but also understand that is in a issue where what you acquire is engineers and the products. That is not true when an bank acquires another bank or railroads merger automotive companies merge. So your key is standing what you really acquiring and protecting it at all cost. What did you learn about price and the type of deal you know. Stock debt equity the ability to deploy. You're kind of the eight hundred pound gorilla at the time the ability to deploy cisco's scale and size for effective acquisitions ran was hugely important. Our customers bought into the concept of we build architectures where routing and switching and security and wireless in the cloud servers worked together on those architectures. Therefore we did an acquisition. We say our customers use our own direction. They watched us do acquisitions. Order that works. So they weren't concerned about with this work on it and we positioned on outcome at a time. Everybody else was selling products and direction is basic as that sounds. That's what we did that. Our peers did not. We had a much higher rate on acquisitions working but we built them into architectures which most people couldn't even say the word engineers originally didn't like the concept. They wanted to build best and fast products. I said no. We want to best architectures that we could add. Do and move with speed on in terms of our branding market power. We never used price as a competitive leverage. My view is that we were going for the best margins. The industry that we want a good competitor because we got good competitors they force you to change we would not choose our financial strength to price in ways that others could not keep up. My competitors were ten to twenty percent less expensive than we were with good march so we competed on architectures outcomes and benefits to customers and in the team we had the best. Cfo in the industry was very carter. We had the best sales leader in the industry. We had the best engineers leaders in the industry. We had the best business development team for seven generations of business development. The top person at cisco was the top in the industry on emanate and business development. So we build a machine and a culture that loved to play together that worked culturally together. I would take the team up fishing with me to alaska most the time. It's announced the bahamas at expense entirely and we'd build culture of collaboration and carrying you learn a lot about people when they're out in the middle of nowhere and come around the corner in this Grizzly bear that it could destroy you and it wasn't used aim depot and how they respond to it. Now you adjust one of the people you mentioned was perhaps one of the more talented sales leaders. You mentioned steve jobs. Everyone always thinks about product and obviously product is critical. What gets way less attention far less sexy as distribution. But i think a lot of the story of cisco is incredible distribution story that you largely helped architect along with your team. Can you talk about the lessons. You learned there about building. A great channel and distribution salesforce one of my toughest competitors is a company called. Juniper was one of the very few. And i can say now that we weren't able to knock out. We always competed like we'd like to be competed against and and we were tough. Competitors would never do. Somebody else would have a problem with. They did to us. Juniper hit a really good product and soda wellfleet but what none of them had was a sales machine. We combine and great products with a unbelievable great cells machine in distribution and the juniper leadership several of them nearly as recently as five or six years ago john. We just never understood as you did. The importance accorded products not just selling themselves but the importance of a sales machine that brings value to customers outcome based and the distribution. That goes with so we delivered eighty percent of our product even though we were dragged touch with ourselves people through our distribution channels and our distribution channels was game. You one of the secret sauce says that many people did not understand. It was one of the key secrets win wa wa came at us. Lee offered unbelievable financial and sinise direct. Probably some not as direct as fat to the companies to switch over. How many of them do we lose while way none. You treat people like you like to be treated yourself. You focus on how they win at achieve their objectives. Your therefore good times and bad times. So that's the fabric that we built our company on. We made mistakes along the way and is out says towns far from perfect but we enjoy competing and we tried to compete with. The rules. would like to be competed against the same way. Can you tell me what you've learned from shimon peres. I was fascinated by some of the lessons. You shared with me before about your relationship with him. He was a rich say. No in in israel israeli the a lot of the real creative rains and developing a very effective defense organization that with a population of only about six or seven million could take on countries that had in total hundreds of millions of people eight then switched to peace and focused on. How do you focus on peace and peace in the middle east and pieces. The only way economically is walls benefit of his citizens and others for this fokker. And i literally would go with him into the country even during the toughest of times we go into the streets of upper nazareth and lower nazareth and into the christian communities into the jewish community in their community. He would just be crushed. People want to seem but if somebody wanted shotting they could house right. Presiding that fearlessness. And that trying to do the right thing in the love of the people regardless of religion learned a lot. He was inclusive of everyone. He got me to be. Were patient with people that perhaps disagree with. He taught me. Leadership was lonely asset shimon. What do you mean it's lonely. I've got forty thousand people around me at this time. Were part of a team and he said john. Thanks get really tough. You need to know you will be by yourself. Doesn't mean people won't want to support you but you will be by yourself and boy. He was right when. I made my tough decisions. Real tough decisions. All the people supported me. If they hadn't work they would have changed. Me and two thousand was the worst. I mean you sit up on the roof of your house and you look at. Are you the right person to do this. Your stomach's turning you know you can lay off people. You're gonna do this quicker than anybody else has ever done it. You're telling people ahead of time that this one hundred year flood which it may not be but you believe it is. You can get beat up for that. You're gonna lay off what ended up being seven thousand people you've been announce it an implemented in fifty one days. It is lonely really lonely at just something leaders have to now. The fun thing is now. Get the tc's young ceo startups. About either ship. And i go here. The four characteristics of the ceo in terms of vision strategy for the company. Bill developed recruit the right leadership team implemented vision strategy communication skills which extremely important especially now on the role of social media and culture. And the only for jobs you have. And i teach them how to deal with crisis management here. The rule book you do during economic downturns political challenges. A real problem with the media. And here's how you many sue that and then i'll remand him that. It will be lonely during this time period when you hit the duff. Tom's and while you're friends. And i wanna help you some will turn on you. You never anticipated the media who could senior blazes wednesday. We'll come right at you the next day usually a different reporter but the same publication would do it on it. This is just part of leadership. And you're about to enter and not depend on the situation a quarter or perhaps even a year three four five quarters of really tough times and i'm gonna tell you it's gonna be hard on you and you will be very lonely and teach them how to do that and then at a little bit of humor. You remind him that. I've seen this not done. This and i know you're going to go through a tough weekend. Based on what i just shared with you planning for what's going to occur and i'm gonna have a bourbon and ginger and think about you and the point that i'm making a little bit of humor but it also is not fun for me now crisis management and having seen so many of them than some rights on them wrong is so helpful to others. That reminding them like shimon. Presdent leadership is so lonely. Otherness think like a teenager always think out of box. We head him over here a house. He wanted to come to silicon valley. He was constantly benchmarking and he said john. I wanna come to your home and this is at the time. There is huge friction between israel and iran and there are strong rumors probably more than rumors that there may be a defensive strike by israel against iran and so he was target's share with my wife that she has to do this and she said of course we knew that probably do the best of protect him and us while he's here is it turned out. There are eight different security groups from israel the us local cyber crews people with rifles on the house. People are in the woods looked like a scene from meaty with lights and everything going on and yet he when he came to the house that evening he was meeting with the number startup up some disease in some friends of the biggest companies here in the valley. He was the most relaxed man around. He immediately started to talk and as he did. So will within five minutes. All of us to stop eating. Were trying to find a piece of paper and pencil to take notes. And he was teaching office about leadership about dealing with problems he was sitting in the safest seed in the dining room. That would require the hardest shot for a sniper from way far off to hit him. He didn't even sweat. He always had a great sense of humor calmness during the tough times and he said john i understand. You've got electric car. And i said yes sir. I do hybrid. He said i want to go see it and maybe drive it. I said mr president. Your security team told me i could only have you in the dining room area here in only in this seed and early in the living room area and that i was to make sure you didn't leave this area. He said john. You know how the president back. Yes sir i look over the security team and they were already scrambling so we down of elevator as we get out there he looks at this car and you really gets fascinated by it and say john. I wanna drive it. Let's go all of a sudden you see people scramble every which way how did he get ahead of this and his chief of staff came over and she said john. I don't know how to tell you this. He does not have a driver's license and he has driven in over a decade pass. It this is really interesting so we got agassi. I got into the passenger seat. Were sitting there and he's asking questions who's going through erase scam. Went outside with what's going to happen next. They said okay. I just wanted to get a feel for it. Let's go back upstairs. Venue roundtable with your friends. He had a element of making everybody feel comfortable around him. He taught you. He said i'm ninety seven years old. But you've got gotta think and dream like you were a teenager again to really do innovation have innovation. Gump from twenty year olds. They still are thinking like a teenager. But have the education to really take the risk and changes but he said age is not your issue on innovation. It's thinking like a teenager. It is and it's an important category for all of us to have as we move forward. I'd love to play off that with your relationship with the squadron of young founders that you now work with and spend a lot of your time with you mentioned the four areas are the key responsibilities of any ceo. And i think the first you said it was mission and vision. Which i think if you think like a teenager maybe you do a better job of that first one. What in those four dimensions do you find your role to be the most effective at helping younger entrepreneurs originally. I thought the first two would be most important. How do you combine mission and vision was sustainable differentiation in the market. Because that's how you get your financing. That's how you get the economic result successor and when people write about grace startups in great leaders of startups. They always right about mission invasion the second element which the leaders either already understand or learn quickly. It's about having the leadership team that can implement that vision and mission and work with you effectively and changing part of that leadership team as you grow because it's almost never when you can take your top seven leaders from the start up all the way through and make changes as hard to do as fishy for people you love and care about on the direction. So i thought that would be where i'd add the most value teaching them how to scale organization revolution when to change people. How do you do acquisitions. is your vision. Really tight is a sustainable house. A competitor others compete on market. Transitions in that vision. Not against competitors etc but actually the most important elements in that approach is the third and fourth point. It is communications and it is culture and especially during the tough times. What gets you through is how well you communicate to the press to your employees to your shareholders to your customers and culture. What a lot of people really never grass thesis esco is so hard to beat. It was culture. I mean we were. One family took care of each other like family. We played together as family. If you didn't fit into that. We moved you outside the company and my mistakes often that i left somebody who was not a cultural match. Stay in the company. Too long now remind people at the startups. The miniature get somebody. Who's not cultural match. I don't harm secondly if it if they are in the company you've got the face amount of it because the damage they do. The culture and communications is actually wear often. Add the most benefit to these young ceo's even though at first most of them really are not interested as much in communications in if it is communication dismore had i get people to invest in the company and an cultures of the often. You get spend time on one of my best examples of that. Was the ceo of a company called as new york. Just recently came out of stealth mode amazing artificial intelligence customer experience company that understood bishen strategy. Remarkably will their average orders like ten million dollars. When they were still in stealth i found Etc but culturally when i'd share with cassava their. Ceo's just brilliant than really good. He didn't seem interested in the culture. And i finally said we learned that over time about the time i quit talking to him about it. He said john. I gotta presentation business meeting this next week to mind group would you mind reviewing it with u. s. it of course and it turned out when he did that with me. It wasn't a business review at all. It was a cultural review on who they are how they were to get their base to fall in review. Everybody else and he got he understood. Culture has to be owned by the ceo. Not human resources owned by the ceo. Human resources is the one that implements. You don't kid about your culture. Don't put things on your culture that you really don't consider really important really important. If you are saying family i and you treat people that way. You are seeing customers. I and you treat people that way. It's just do the right thing then. You always make your decision on. What's the right thing. Regards the financial implication of it. I believe that every year you take a small group to alaska to be outside together a group of the leaders you back or other young leaders what sorts of transformations happen on a trip. Like that their magical. I did it originally team building. What i didn't realize is how much each of us learn from each other. How much that would calls the team to stay together. Long after other teams did not out of the group that i did this were at cisco for twenty years. It was mainly cisco less a few outside france that we did the trip with and then over the last four years. It's with about ten experience leaders who've seen the movies from different angles from a supply chain angle from a sales angle from an engineering perspective from a financial perspective from a human resource cultural perspective and cabana with twelve startups. And then having them each go out and in the boat so we to be on your with that person for either half day or full day you go into remote locations you really get to know each other well etc you fly in on onto the plane and they come pick up to the end of the day you get to know each other real will the evenings. We have toast. I call on different leaders at different times to say what was your day. Like what was your takeaway. What was your cultural aspect that you learned as factors in their communications is francine them getting put on the spot. It's reminding him that you don't want to have more the wondering of wag on you to make a misstep there even though your team was still love you if you do make missteps. It's building culture while some of the lessons learned on how to build great engineering organizations or great sales channel organizations and the knicks about sixty percent male forty percent female but one of my favorite sessions is when i had a young ceo vj out of been drop in atlanta and he was learning about diversity but he was trying to understand more the importance of diversity and why diverse teams out execute teams that look alike and the importance of gender and that diversity not from a negative perspective. But he's just saying teach me teach me how to do it. Dramatically better than others and so it had a full day official name and there were five of us there on it and we waiting for the boat to come and pick us up and we were on the issue of inclusion. And how do leap people. How do you create an environment. Where going to be one of the most attractive places for females to work and part of the culture. They wanna be a part of and one of the mistakes that you're gonna make as leader. What are the trade offs and we're sitting in the water. That's only about a foot deep and waiting for the plane. They come up and talk with us. And i have three of the top women in the world in their industries ranging from pharmacy goal to supply chain operational leadership etc. Two channels and. They're teaching him. Also they would teach me a little bit as a reminder and the conversation was so good. I just got up and grassley while quietly away from the group and i went back and i took a picture with. Bj with three of the top women executives in the world and their categories sitting there completely engaged in the middle of alaska birds background. I don't know if there is a bear in the background on runways way or not and we just finished fishing. We cut our limits and bat. Was the picture i value the most three women with their backs to vj soaking it up and learning. So is that ability to bring together teams and cultures and room make it happen and build relationships for life so when these twelve. Ceo's go back. They can call up any one of the senior people who've been through movies before instead. How do you handle this. You know this person here. What would you suggest etc. And it's also what any good sports teams understand. You are so much more powerful when you build your own company with the team. That is completely united with diversity and differences of opinions when you build an ecosystem like two channels around you consultant surveillance that others do not have that makes you near unbeatable. What's that worth. an answer. Return almost priceless cultural return a believable and when people talk about what i do quotas vce. I'm not a vc. In the traditional sense. I'm a strategic partner person. Did touch them grow in scale. I will provide them tough. Love will always be right. But i'll tell you what i think. The trade offs are and how form friendships for life. And i will only back you as long as your culture. What you represent is in the areas that i believe that it should be definitely might be as a right but i don't advise companies that have a different culture than i believe that i try to represent. I try to teach people how important it is. Chinese made a career of pattern recognition. Seeing transitions happen over and over again you mentioned earlier. This change that will disrupt the number of jobs available and now not keeping up with that pace to replace those jobs being lost to automation et cetera. What are the other major transitions that you are watching in the world right now. I think the biggest transitions is every company. And every employee of every organization will be a digital company a digital employees regardless of age and tech company doesn't matter if you're manufacturing government defense retail technology companies understanding that is the core foundation and will completely transform. The biggest transition is the speed of change alluded earlier to speed of job. Destruction an automation. That actually is shorted through the downturn and the pandemic ways that people might not have thought would occur other elements is did two percent of the large companies exist. Today would not exist in a decade in a meaningful way and understanding back to the point that we talked about earlier the importance of a lot more startups at scale and yet how many government leaders regardless of your politics are focusing on startups as a key economic engine for their future to create a regulatory environment that is very friendly to start ups and very much conducive to the implications of that used the. Us ample remotely. I think silicon valley as a wakeup call coming so does new. York city and seattle eighty one percent of the employees of the companies are saying to think about. Should i've either diff- somewhere else. Think about being somewhere else. Understanding them when these transitions occur. They wait for no one just because you lead in one generation of a win decade. there's no entitlement. you must change john. I'm so sad to be at the end of our time together. But i'm forced to turn to my traditional closing question which has to ask you for the kindest thing that anyone's ever done for you. The kindest thing does ever done to me when my parents my dad taught me how to dream make dreams come true and how to deal with the toughness that life inevitably deals to you with the onus etc. My mom taught me. The emotional accu sat in the house. How she never a young person ever let me go to bed. Mad hit my sisters are or others who absolutely deserved by the way reagan about you. Don't go to sleep angry. You learn how to forgive so probably the kindest thing was how those fearance balance balanced me and my two sisters and tatis the trade off in life it has been so you need to partially my success but also i've been able to deal with the challenges john. This has been so much fun. I'm going to have to listen a few times to be able to extract all the lessons. You share with us through great stories so appreciative of your time. Thanks for doing. This is my pleasure. Your amazing interviewer you several questions. I'd not heard before which is unusual. A of hope your listeners enjoyed it and understand that if you agree with everything said you're not failed. I wanna make him comfortable. I want you to learn about leadership and mistakes made and it's fine to disagree. I actually think that makes you stronger as a leader and as a nation by having healthy given acorn issues. Well thanks so much again. This has been a real pleasure. Lots to learn. I really appreciate it now. Patient this episode was brought to you by microsoft for startups microsoft for startups is a global program. Dedicated to helping enterprise ready. Bb startup successfully scale their companies in this five part mini series. We talked agree. Lock partner som- otemachi and microsoft for startups lead. Jeff ma about why companies should partner with microsoft startups. In this week's episode we talked with psalm. Motamedi a partner gray lock about his initial investment in microsoft startups customer abnormal security. So som- perhaps you could begin by giving the audience a bit of brief background on yourself. What sort of investing you do and how. You came across abnormal security. I'm one of the general partners here at gridlock. I focus on the enterprise side of our practice gridlock. A fifty five year old venture firm that primarily invested consumer enterprise software and what we invest across all stages. I personally really focus on being the first capital partners entrepreneurs whether that's at the seed or series as stage and focus on new companies being started in saas. Am allen date. Infrastructure and security of mobile is a very interesting story for a secretary lock. I think one of the things that's unique about. Gridlock is we've over. The years spent time in been fortunate to actually help. Initiate new companies from scratch in our offices like workday in palo alto networks historically and more recently companies like sumo logic awake security in a normal security so it has a little bit of unusual story. My partner ashim and i first met evidence. Sanjay founders about normal. There were known to us Lock because they previously worked at a company called teleport which was also initiated at gray. Lock by now partner. Josh mcfarland that company was building. High-skill machine learning systems for ad tech use cases and i company ultimately went on to be acquired by twitter and evidence. Sanjay left that company with the ambition to go start a new company that would take expertise around building high scale. Highly performant machine learning systems to solve an important problem for the enterprise and so what they did over a multi-month month before the company was started before a line of code had been written and before we invested was speak with something like a hundred enterprise. Ceo's in seaso's to do customer discovery in problem discovery and donaldson me led them to landing on the idea for security. The basic premise being email continues to be the dominant channel for business communication and therefore the integrity insecurity of email is of paramount importance for enterprises. What's happened over the last five to seven years is attackers. Have gotten more sophisticated. And a threat landscape round email has shifted from spam and phishing too much more targeted spearfishing and business compromise attacks. And what evidence. Andre realize was they could take some of the techniques that they use a tele part to solve these more advanced attacks and use machine learning systems to build baselines of what normal employee communication looks like and then catch anomalies deviations from that in take that approach to build a new email security solution so we have the chance to to ride shotgun with them during that multi-month discovery process. And at the end you know. They had a one point zero product document. They had an initial set of customers. Who are ready to try the product. Once it was delivered in they started the company and we were lucky to to partner with now. What are some of the things that you're investing before a line of code is written. I find that quite interesting stage tobacco company. that's then going to be selling into very large businesses. what was it about. The discovery process the conversations with cio's and others. That made you confident enough that there would be buyers once the thing was built. What are the signals that you need to see as an investor to gain that confidence. I think when we invest before a line of code has been written. We spent a lot of time thinking about the market dynamics and whether those dynamics can support the start of a new company and so either. If you're starting a new company from scratch your you're either. We think of it in three buckets. You're replacing an existing incumbent you're exploiting new market that's just begun to emerge or you're going to create a new market from scratch so i remember when it happened in sanjay started this. They had mocked up what a prototype could look like and as you showed this to different. Seaso's a very large percentage of them resonated with. Hey this isn't important problem around these advanced spearfishing and business email compromise attacks. It's not served while the existing in security providers and if a new solution came out the had the characteristics you're summarizing we'd have high interest in trying something like that out so what evidence andrea were able to do was take some of the customers who got the most excited and convert them into early design partners and those people essentially signed up with something that arrogance even more valuable than dollars early on which is. Hey if you guys start this. It's so important to us that we will figure out some cadence to sync with you and help drive your product roadmap so you end up building something that not only suits our needs but suits the needs of other customers like us and then when that product is delivered will purchase a product. And that's it's rare to get that depth that signal early on and i think it speaks to the importance of a problem and so when we saw the combination of that breadth and depth. That actually made it. Very obvious that this was informed market opportunity to find more episodes. Where sign up for our weekly summary visit investor field guide dot com thanks for listening to founders field guy.

cisco Jack welsh john microsoft Jeff ma patrick john chambers rapids vantaa one thousand dollar Patrick o'shaughnessy shaughnessy asset management forty billion dollars two decades twenty percent canley eighty percent hundred year mark sharon six hundred million dollar
88 - Keep the Humans for the Human Stuff

Not So Standard Deviations

1:16:16 hr | 1 year ago

88 - Keep the Humans for the Human Stuff

"Welcome to the not so standard deviations this episode eighty eight and I'm Roger Payne from the Johns Hopkins Data Science Lab and I'm here with Hillary Parker stitch fix and this episode we're talking about out Hillary's trip to the directions statistical computing conference as well as using a diversity of programming languages and changes to the open source software community just as a reminder to all of you who listen to the podcast that we have a Patriot where we we use to support the kind of the production of this podcast and we would love for you to support us if you can at either the one dollar two dollars or three dollar per month per episode level at the one dollars per episode level you just get our thanks at the two dollars per episode level you get both our thanks and a not so standard deviations heck sticker at the three dollar level. You get all those things plus occasionally. We'll post outtakes from our episodes so please support us to help us to make this podcast and we real and we really appreciate those of you who have over the years so onto the episode okay so do you want to start. You feel you feel it. I am okay. I'm here well actually I I wanted to mention which we have neglected to talk about is that we will be appearing at the video conference next. Do you remember that idea I do I saw Jj Allaire. He's the founder of our studio and and mentioned it and he was like Oh right. Are you guys doing Aquino so you so you and I will both. I guess we'll be doing a joint. Wait keynote at the Twenty Twenty Studio Conference which is in January right and we've obviously made the whole plan. We know exactly what we're GONNA. Do Oh clearly yes. I need to research joint key nuts like what are the different approaches yeah I. I've never done one yeah. I don't think I've ever seen have you seen one with a receipt. One I have I've seen one yeah and it was sort of like a tag team. One person in presenting for awhile and then started handed off to the other coupon the coupon ice Yeah it's interesting. I mean it made sense for them because they are both researching. They did research into organizations. I actually really liked the talk with their talking about okay. We like empirically studied need different OPS teams 'cause it's like coupons essentially devops conference end. I mean it's a software engineering but a lot of devops there and so they're like okay like what do the best teams look like and it was all I mean it was all the talking points. I like which is why liked it where it's like. Oh like emotional. We'll say she doesn't matter the tools. Don't matter but the systems do you know. What are you actually testing for. It was kind of like all the things we've discussed best extensively here of like you know don't get into software fight certain like the software choices are correlated at all with outcome so there is another joint Keno. That's that's at this conference which is GonNa be Martin Wattenberg Fernando Vega Vegas who were both Google and then the other the other two keynotes Jenny Brian and Jj Eliahu both at our studio awesome yeah. I'm really excited. It's in San Francisco. This is my first. Actually wow get ready it is I I have to say it's a really fun conference. That's what I hear Yeah I. I don't know what it is about this group. I mean I think I don't know I think it obviously you know my biopsies are clear listen for a while that I really admire this company company in how they're cultivating a community in the way that they approach open source and everything and so I think that is reflected in the vibe of the conference prince where it's super positive people are really excited to share like there's a ton of enthusiasm and just just really nice. It's hard to explain but nice to each other. That's hard to explain. I mean capable always nice. No no the is clearly not the case but anyway I'll upload link to the conference in the show. That's if you wanted interested in going. You should go not because we're going. You should go because it's a good conference I think he usually they have diversity scholarships yeah. I saw a tweet about that. Maybe they were. I don't know if they're out or if they're coming soon or I can't remember now yeah well at that if they're available to be applied for big yeah. I think they have quite a few too yeah I think so and so they do a good job with outreach community outreach and everything so they have typically have a ton of tutorial type stuff right yeah. There's usually workshops the first two days and then after that the conference is today's. Do you WanNa talk about your travels to to. DC Yeah sure last week I think yeah last week. I made my way down to the Stanford campus. Long trip trip as actually is kind of a long term. There's a long trip yeah looking. All this stuff is next to each other very much. Not Stanford's man. Stanford's campus is bananas. I I've never been there. Oh my God. It's like like I was joking. It's like it's like you're in a park. That happens happens to have a few buildings in it like it's like it's Massa. It's hard to explain how massive it is. You have to cover a lot of ground yeah like literally. I don't know how people navigate hoards of bikes because like how else would you get from one building to another like it's it's weird. It's like it's a very distinct. Thank you would recognize it because I don't know it's like they have these trees and then the trees have these leaves that fall into it like it's like a very distinct color and then there's these winding roads that go through the campus in their stop signs everywhere so like to get through the campus. It's like stopping go in this like Park Hark and then you'll like happened upon a cluster of buildings. I don't know it's just so different than like the school I went to like like any sort of east coast It is gorgeous. It's beautiful like when you get to the right. Little cluster of buildings like so gorgeous but anyway wait so the point is like I went down the night before thinking okay. I'm going to save this hour commute time and like commute at an off our because if I was going in the morning it'd be like crazy times of the bay area worst commute possible so then in the morning. I woke up every time every single time I do this. There's a blue bottle in Palo like the Little Palo Alto downtown area and so I'm like I'm just GonNa stop by bluebottle than go onto the campus like that. That'll be worth it and so it's like that alone takes me over an hour just to go to bluebottle. Oh Yeah No. I waited late late for her car for fifteen minutes which again it just it's it's just like A. I didn't expect that because usually when you're in the heart heart of like Silicon Valley and you're using an APP that is built for Silicon Valley anyway it just so I had to wait for that. I go to blue bottle and of course there's like the log line there and then. I had to wait again for another car in the night to go through. This sprawling campus is like stop. Go stop go and then I thought I finally got dropped off and then there's like four buildings. I don't know which one it is. I'm like walking around asking people and then people don't know what building it is campus they're like. I don't know it's like literally. I was like the building next to us and they're like I. I have no idea wow okay not their fault but and then it's like even within anyway so the point is. I don't know if I saved myself much time but so that's you you guys can get a feeling for what it's like to to be at the conference it how much you sacrificed to go there but I didn't sacrifice good coffee okay. I made sure that happened so anyway. I was invited by gave Becker who we've talked about before he's a friend and he works but right. Now he's He's like a consultant that he is has deep deep knowledge of our. He's the one who wrote the REP update to our core. You're on and so yeah this conference call directions in statistical computing. It conference is not the right word. It's like it's like a small working group. It was like maybe thirty it used to be kind of a conference but even back in the old days. It was a small conference right. Yeah I think the idea is that it's like Arcor gets together and talks about stuff like what they're gonNa do and then I know Gabe wanted to bring in folks who are like using our and get a little bit more perspective perspective around like I think in the past it probably was just like software developers and so they're like Willis. Get a sense of like what the hell ours we used in the world and it actually was fine. I should kind of a summary of what I talked about. 'CAUSE there's a really dynamic person on my team. will on the data platform team the named Kurt Liquor and he actually has a wikipedia page oh yeah and so he is he worked on the Internet Archive Oak. Okay Yeah I think he was like the head technical guy for that which is crazy massive amount of work right or just like a difficult technical problem to archive the Internet just and so he's like one of these people who's like he would have a great podcast like he's like Super Talkative Compassionate and like just fun to talk to you so I scheduled this meeting with him. Do not like give me the rundown like here's kind of my understanding poke holes in it like where am I right about like our philosophy about our in our philosophy about like how our team is structured. It was funny funny because it was in this room that really looks like a therapist's office where there's like a couch in the chair and is in the chair and he was on the couch and I was like our therapy session he it was like should we talk about my mom like yeah and then he like actually talked about Islam for like ten minutes so I learned about his mom and then we start talking about so like we only had had like a short amount of time that we blew everything because he talked so fast does so passionate sell basically what I talked about was is the fact that the I've also been reading. I read this Harvard Business. Review article might have talked about about late. Nimble leadership any ideas he has set like they went for companies that are really good at innovating keeping up with the times and the idea is like you know it's not coming from top down leadership. It comes from kind of bottom up entrepreneurial leadership style where you sort of enable essentially that I would call him the ICEES or you just enable people to do the like to essentially do little startups within your company where you're like coming up with an idea like they they talk about like Gore Gortex tax materials and so it's like you kind of infuse everyone with the company values and like here's what we like to do. Here's the type of projects than than people who who are on the ground like are going to have the ideas for like hey what if we like you know did a little bit different material engineering and then they go and make it and then they kind of rally resources is and eventually that gets adopted project so we kind of have the same thing stitch fix which I've talked about like my project is very much one of those things where it was like doc having gets a support people bought in try to rally resources like get something made and then you have a proof of concept in people are like excited about about that it sort of snowballs from there and so yeah. I talked about that how like in talking to Kurt and just knowing how the team works. It's like we will always support our 'em python and an spark which RC speak on stuff because those like they want to have diversity like our goal isn't to have everyone streamlined into like the world's most reliable production shen system and not because we want to enable this entrepreneurial spirit right but that said there's limits like you know his qualms. Were what you would expect where it's like. Oh we need this to be like we need are to be administrable by people who don't write our okay yeah 'cause is like they pretty pretty rare to have someone who's a platform like ops engineer who happens to be an expert in our yeah like usually people who administered are like our users and I mean that's like the complaint in down if you talk to. ADLEMAN teams who support data scientists is like they even the way we install libraries It's yeah it's all from within our by design yeah. It's not like it's not designed as a kind of a modular system like other like python or something like that it feels more like even though packages or modular feels more like okay kind of monolithic system where you do everything from within our yeah right yeah and again. I think by design yeah yeah yeah and like and I as a user like that because it's like I just I feel like I'm like when I'm in our console. I'd like at home. You know right right yeah and that's just like okay. This is my safe playground and I can like do whatever I want here when I'm like in the terminal. I don't have that feeling right. Oh scary actually do something bad. Art Doesn't have that kind of like command line interaction booed like python or any other kind of scripting tackling right yeah exactly there's our command source or you know exactly so I think that makes it nice for someone like me makes it crummy for some unlike her Balkars and so but yeah and and like I don't know he Kurtz other kind of qualms were like I think there are things that I think there's a reputation thing that we're still shaking of like because I was like why don't we use sparkly are are are whatever and he was like oh well the are really needs to use conventions of these other languages and I'm like I think they do like I. I think I get why he would think that like we don't or like we. I mean that that package wouldn't do that but I actually think that package does that the so they're still reputation thing. It's sort of like whenever her. I'm on a windows machine and it breaks down. I'm like oh windows. Thanks if you're on a Mac. You're like Oh weird yeah uh-huh yeah totally some of those early impressions that you develop when you whatever you kind of us they just stick with you forever right yeah. I was just thinking about that because Dina restoration hardware store yeah like they've gone through a massive rebranding. I mean I it started as like another pottery barn so for non-use listeners. It's like I don't know if it started as like just like cheaper kind kind of the it was like a full old timey furniture brand like you could buy like mimics of old toys inside. It was hard to explain but I don't know I just I happened to grow up in like saw that version store and then now they've like complete. They're like a luxury really home furnishing yeah like they're. They're very high end. Now have recently have been in the furniture market for a while. Oh well I just I got there like catalog and I was reading the the CEO 'cause I was like wow interesting and he talks it it just I was I was already thinking about this like wow they've really changed just even like the aesthetics of the store and everything and then when I was reading the Guy was talking about how they like over the last eighteen years of like completely pivoted so I still have that reaction of the first store is like you do too yeah. Yeah it can be hard to rebrand. Is what I'm saying Argh. He's rebrand. I don't know I just was there any discussion worse. There is a few bog roots was there who does a lot of like security stuff so he was presenting kind of similar to me. It was fun though because he talked about all the different languages sees us which was quite a lot and he was like you know the reason I love ours because you can like you can do anything in our you know. There's there's Thursday like kind of playfulness to the language wrote an end so in kind of on that theme of you can do anything sort of interesting because I was talking about it. Stitch fix six hell all of these tools that are data platform team builds for us is usually some sort of wrapper around open source project and in the rapper like like essentially takes care of all the admin stuff so like I don't ever have to worry about logging into aws or any of that kind of interaction because they've built a wrapper tool that makes it easier for me to that like some combination of VPN and then we have this like command. Line scripts always running in the background. Whatever it takes care of it you know and then the theme from the our core people was like and this is what John Chambers was talking talking about is like the like we are in rapper. World Jailer was there and he talked about particularly which is a way of like running essentially like importing python functions into are they were like this is great and ideally that is I was surprised how much John Chambers especially was really focused on the user experience of the language where he was like ideally no one who is an interactive user of our like Anon- package writer. They should never actually have to know anything about python like they didn't know that particularly is running. We should just right rapper packages like we should have every single python package in this relevant. Some sort of rapper package rounded that uses ridiculously to like access that the python functionality and do any sort of type. You know like there's a lot of type conversion stuff you need to do but like as an argues or we should be focused on like a user interface for that package package. That feels very are ish right yeah yeah. It's so it's it's stretched all the way it's gotta be and I was like I guess this isn't new because there's ours. RTP RCPP that's the C. Plus plus rapper area exactly yeah so it's like already. That's like the most used package right that's right but you have to have the whole python infrastructure kind of installed right so anything that uses particularly like if you're just an average our user and and don't know anything about python like. I don't know how you would like short of just having an entire python insulation come with this package right. Oh Yeah you'd have to right right you don't like library particularly and then you have to import packages this well I mean if you like what would a person do they just installed our from scratch and they wanted to use a like for example the Greta package which does like a hierarchical modeling of Beijing hurric- bottling uses tensor flow and the and the tension flu package which which python right right now. I don't have to know about that except for the fact that I need to install python to get this thing to work right right right there was discussion of this okay. I won't say that I actually know where it landed or. I just feel like this. I say with like you. RCPP I mean I guess if you're using RSVP. You're not some naive are programmer because you have to do something about people's plus right well. I never ever have to I feel like I don't have to install much in Ortiz packages that themselves use our AP right. I guess that's true. Brubeck is probably because I'm not sure I was GONNA say maybe because every computer has like a C runtime or whatever but up to be honest. I'm not entirely sure but I mean I think. I think that this discussion happened at night. Just didn't pick up the details MANATT VINE far. Mike would never claim to be an expert but the idea of installation was one of the topics and I agree with you that I mean. I think the desire was was like hey can you just do library whatever I think that now that this is jogging my memory I do think the JJ said a lot about this it was very very much on the minds of everyone and what I learned actually is that the reason particularly came to be was because of the tensor flow package okay right. It was like like Oh. Let's do this with tensor flow and then somehow it was like okay. We have this particular thing okay. Let's just make it its own package like people were asking for it. It sounded like he kind of backed into it and now I mean for me personally. This is a game changer. I was telling my coworker yesterday that like it's just there's something about like ours. Such ours my happy place right and so even if I'm like learning like if I'm learning a new package it's just like if I am using the version in our I can learn what's happening with it. Versus Define Python. There's like so much clutter of like me not understanding Python deeply that interferes with me learning the package itself South. I'm just so much happier to import everything in like okay. I don't do dogs I do- dollar signs and then and then I do I totally get with meat about the rapper's burs because I do run into major problems with the type conversion stuff and I'm like I'm constantly trying to figure out okay like Python. An list is like a array or eat. I'm trying to like figure out those conversions and that's a problem because you have to know so many then you have to know no details well and that's the point they're like. We don't want our people to have to learn details. Find out exactly yeah we had like. I just had had a problem I have to. You have to use els Mike. We end to say five. You have to say five L. O. because it's like a trigger says double gets sent over as has the double by default. They talked about that two zero L. or so that was one theme and then the other theme was a performance like that in terms of what the Arcore folks discuss the day I was there performances this big thing they are their concern and I totally I totally we see the perspective now is that our guest this reputation of not being performed end but frequently is because people are writing code. That's not perform format. You know and like writing code. That's not like yeah and so I think that's their big qualm with the tiny version specifically the nonstandard evaluation valuation is that it's slow and so I think their concern is that people kind of right off language when it's like well actually like we could show you how to I speed this code up and it's not it's not performance fat like the The paradigm using are not as performance yeah and I think it's one of those things where which kind of strikes at the heart of the controversy with the tide verse which is that I think if you're interactivity kind of dealing with data the whole nonstandard evaluation stuff I think doesn't really factor in and it kind of makes everything easier to use and I don't think it really affects the performance but I think once you start. Let's you cross the line into programming and then these maybe these these kinds of functions need to be called over and over and over again then I think the narrative I think the non senator evaluation stuff kind of gets in the way and is not really necessary because you're not using these functions interactivity Lee anymore but then the problem is you have to kind of switch out of that mode and if you're not used to programming in the traditional kind of base our mode then it's a bit of a it's kind of like a shock yeah games point in terms of why learn base our first because in his concern is that he'll adopt. You'll you'll learn thing you'll be confused about fundamentals of our our rough and you won't necessarily be able to relearn the you know the true our core stuff or like not our core. The True Base arced. It's ironic because I feel like or maybe arise out the word. The word is because I feel like our originally went through this whole thing. It just like people thought. Oh it's too slow you know you need. Tich hogs all this memory and it's not efficient and Blah Blah Blah and then there's all this work that went into kind of like dealing with that but now we have like a layer on top. That's takeover brings all that back again. It's yeah that's a good point. It's always trade-offs right because it comes down to the USABILITY. There's those look the efficiency right so right. It also made me realize like I think his name Simon Urban Ac yeah he he's on our core for in he also works at at and T. and it's like we presented kind of close to each other. Yeah I was right after him and it was like too extreme extreme opposite ends of the spectrum Beta size because like that was the theme in my discussion occur preppy is like at the end of the day assist this fixes all human generated data. That's the data that we like us and like at at and T. It's the opposite like it's all self our cell tower paying. Zimbabwe Blah so he's dealing with like huge huge status as and I'm dealing with like what to him are like charming spoke like tiny data yet I mean it makes sense that I'm not running into the pain that he is and I think it's it's better for you know someone on our core to be dealing with like this kind of massive data set right like he's at the the forefront robart data world. It's good to have someone on the court. TV who sees that on a regular basis yeah exactly yeah he's he's A. He's an interesting guy. I don't know how he because he also rates this our cloud thing. I believe. Have you seen that I've seen it but I I can't see I know much about it. Yeah it's sort of like a note. It's like an interactive environment for like parallel computing and cloud computing gene in it. I mean it's not unlike our studio server potentially but much different I it's I. I'm sure he would be like Bra. If you heard me It's much more like I don't even know how to describe it but the plane is he must be very productive like I don't unbound how he manages all these different things. I think he's still does he still maintain the Mac version of our too. I think really or yeah I think he did he. Did I think he still does yeah. He's smart. He's he's opinionated because mind. What's wrong with your presentation. My presentation was like that because it's like can't tell we can't be like do correct John Chambers definitely like back and forth but presumably they do this all the time so I want to sit in the middle of this. You texted me a picture. I yeah it was like Johnson John Chambers. Actually you probably should ensure who John Chambers is. It's because I realized that yeah well for those who don't know John Chambers A and others at bell labs back in the seventies created the S. language and then that became kind of the inspiration for the our language. Even though they're kind of have some important designed differences they share the same accents actually look very similar at some point. I guess I don't know if this was always true or it happened later. John Chambers joined the core team for are are and has also designed the whole S. four class method system for are implemented. I think too nice so but you sent me a a hand-drawn like note yeah. That's I love the date is a date on this note and it says may six nine hundred seventy six and it's Thomas's algorithm interface all this stuff here for like the design as I of the language. Is that right yeah even like this is the first time that we rose out on what we were thinking about like. I know he just Scott Up. There was like here's a little history has showed this picture. Emma's describing how a bell latte like the it's like everything you were saying before you're it was like people writing Fortran and so they had this idea for like an interface to the Fortran. Essentially that's yeah and I wish man. I wish I could remember all the details but he said but he essentially was like yeah so we finally like sat down in like road out what we thought there should should be and and this was like the dot. I mean it was a scion obviously wrote. This was the document that they came up with and when you you look at it it's like yeah that makes sense like an interface for the algorithm that you wrote. It's hard to describe. This is like a picture of a square with the circle in it an inside inside the circle it says ABC sure what that means. It's awesome yeah. No it was I. I wish I wish it it in recorded well. There is a document. I'll see if I can dig it up. That's kind of like the history of the language where I think it's written by John Chambers resorts written by one of the core people and that describes like how things evolved and it was originally supposed to be. I think it was an an interface to a like a series of Fortran libraries that they used to do like linear regression usual things matrix calculations that kind of stuff so it was a layer Iraq and on top of the Fortran stuff yeah well. He described like there was a lot going on with like he started somewhere and then they have a computer at the computer peter they had to like get some computer like some something that was even old for that time is like they lost a resource and they're like like well if drag this thing out and then it was like he was like I spent a year just like getting this thing to even run like bug UGH fixing but not not like the charming bugs. Look at it the way he described it. He was just like yeah. This job was not what I thought it was GonNa Abi and so and then I guess this is the it sounded like this is at the end of a very frustrating chapter picture of development at Bell Labs. Yeah Yeah yeah the heyday of billups yeah I'll ask if if he has like a transcript of every word that he said because it was it was it was like it was so surprising charming. It was like Oh my got. You know I saw someone. I wasn't even GonNa take a photo because I was like let me just be in the moment right now and then I saw someone next to me. Take a photo nuts like permission crib the great that he was there. I wasn't sure how active he was pretty active. Yeah yeah like I said he and he and Simon had a back and forth about something. I don't remember what I remember like getting uncomfortable and then realizing that it was okay. That's just what they do yeah because it's just it's kind of startling to see someone challenging like one of these like father other of the field and like Simon's much younger flake. WHO's this upstart like. I think that they have done this before so any other thoughts from meeting in fine gave cool and again. This world of the rappers is like I'm into what the rappers though to me it feels very kind of anti UNIX and which I think that's good or bad. It's just kind of like it's interesting to think about because I feel like the traditional UNIX philosophy is like one thing is like streaming lots of things together right uh-huh whereas I feel like this approach is basically like let's pretend like this other thing doesn't exist and we'll just like wrap it and so that you never have to know about it yeah. Ah which is obviously has its advantages but it's a feels like a very I don't know to what extent you want to on the one hand you want to protect people from having to know like sixteen different languages right the other hand you may be. You're sacrificing some. Maybe some qualities of that other thing might not know anything about it right right and so there may be advantages although maybe practically impossible to kind of know what the different things are and be able to string seeing them together or interact with them explicitly say let's just. I'm only getting uses rapper and whatever this rapper can do what I can do right. I can see that yeah it's actually it's. Kinda funny 'cause yesterday. We're learning a new tool that our platform team develop that is itself a wrapper for airflow and one of the people in our team was embedded with the data platform team for a few months and so he kept being like they don't want you to how about this but if you go to the airflow you is this will happen like this like you're actively undermining so it was exactly what you're prescribing where it was kind of like don't look at the man behind the curtain but I think that the guy on our team just kinda disagreed with some of those it calls you know he's like No. It's useful so but like I mean I think the philosophy of the rappers it is that it's it's this idea that you're decoupling compute from the UI and so it's like all of a sudden there's an intense focus on language. Eli like that as a programmer. You are essentially and then it's like Aac what's actually running things. Everyone seems to agree. That should be a black box like you shouldn't have to worry about paralyzing nation have about what's calling why will figure it out. I think it does support those like organic like it's almost like that entrepreneurial model where it's like you know anyone can come up with packaging in just like right in what you want and then we'll do all the duct tape needed to like. Get it into all the different systems right yeah you raise. I would go back to you. Mentioned the that's tricks you have these kind of diversity of languages use python and R. and you kind of want to keep them both and which I think is is interesting because I feel like a lot of places you know want to standardize as much as possible on whatever language and I guess you know there's different goals that you're kind of trying to achieve I think right yeah and you said like you try to allow for creativity and kind of new ideas to kind of spring up as part of having diversity of languages as well as a diversity of like other things too right and 'cause I. I was thinking I was just this relates to some email that we recently got and also an experience. I was at a company many of visiting a company a couple of months ago and they were telling me that they had like a company had like a kind of debate over whether they should appeasing are or python and just and at some point. They just decided they're just. GonNa use Python right so everyone just Kinda have to standardize on that plus a bunch of other languages just two of this type of language I think for them. It was more like it just streamlines the workflow and it and it also it also it simplifies the maintenance so if someone leaves and like they're an art expert and then nobody else has our nobody can maintain their code right right and so so so simplified the maintenance and re with spectrum kind of the transition of developers from one product to another and anyway that leads me to an email that we got this is Rachel who is a starting at a company and she is in our per our our backgrounds are but everyone at the company is kind of like in the python world software engineer machine learning engineers and they kind of come from Java Slash Python background background and so she's wondering what you do in that situation. Who Do you try to evangelize our since you're like the one person who knows it to teach everyone how how it it works and how to use it or do you just like do convert everything you do into python and just go with the flow well. I wonder what her job and let her job is. I guess like data scientist yeah but it's probably I'm guessing it's a small place. They don't have a lot of people and her background is are so right yeah. I mean I I don't I don't know I don't have the one true answer. I mean I try not for this deal again this just from the sense. It's a long emails. I didn't read the whole thing but is that I if you walk into a place and you're the one person who does our and maybe it's a small company at everyone. Else seems to be working with Python. There's a sense of what you kind of have to I duNno fit into fit into the workflow. Yeah I mean it's definitely like you'll pay social capital to be the person using the weird airtel and it is a question like how long how much of a long-term investment are you. Do you want to make at this point. If you're just starting out because it's not like tomorrow is going to be like. Oh yeah ours really cool so it is a bit of a long term thing and maybe to want to do that when you first arrived aw yeah but also issue sufficiently like like I don't care what people on other teams right there code in you know what I mean gene like if she's like data analyst type than I would say go for it with our like if other people in her function are using excel tableau blow or something then who cares but if she is expected to Lake Right Production Co.. That would be used alongside this like like Python Code than I would say. Don't do that like I already feel annoying for our team because I'm like like like in all hands. They'll be talking about like hey here's our new kind of air flow wrapper tool. It'll be like Hansa play are you gates can make an are the workflow. They're like. We're GONNA make different tasks for this at first like they were kind of like hedging on the thing they're like no no no like economic like okay but I will quit if you don't actually quit if they don't but it's just like I mean it was like scary. 'cause I'm like listen. You're talking talking about cutting my productivity in half at least right. I'm like highly fluent in this language and so I don't know if this was a switch since that conversation 'cause like now they're like of course will always support art. I'm like that's good to know so I don't know if they like decided on this diversity thing but Kurt was very explicit. I think this is true that like we sacrifice on maintainability pipelines and reliability pipelines by supporting diversity the city so there is a trade off there. There is a tradeoff. We made the call that we want to be able to hire whoever we WANNA be able to support whoever and still will we want to support within reason like all of these acts like we don't have like Julia task you know so to that career Julia expert you would be you know this woman coming in like stopping your make. There's another issue that she raised at the enterprise anniversary meal. which is that like if you're even if it's everything's fine even from a policy perspective like you can use our and other people on whatever if there is a special case? which is that if you're the only one then? I think there's a there's a danger of just kind of being isolated because you know there's no talk to you about If you have a problem problem with this our package or whatever you know like nobody to talk to and so you're kind of community within your job is going to be you yourself and you right so totally yeah and so there's that's not like a language specific issue. Just A it's more of just kind of like a what's the word of the social life of you know fat consideration. I guess yeah I mean Yeah. I agree with that and I mean I guess what I'm thinking about. Is the Bob Ruta Sky cause any this is someone who's used like every freaking language out there basically and so it's like careers are long and it's this one job is going to define what you write him for the rest of the time and I do think it's better like I talked about like I have deep expertise in one language and like working knowledge of others but like I probably would be better off if I had more fluency and python etc I mean for sure especially by five right so I think I mean I kind of agree with at least thing of like you should get like it's better to become an expert in one than like Dilettante in every language out there but it's probably better for most people's careers to have fairly decent knowledge of a bunch and then like hopefully choose news one that you want to go deeper on and then like Bob was talking about how now I mean now. He's like this manager and so he can kinda like set the tone he you get to a point in your career where you can make explicit choices wrote an and also once you to the manager level you're writing so many reports and stuff but like you can just like he can add multiple people talked about using are just for kind of almost like hr type. South Tracking People's hours or likes so but like. I don't know there's yeah I guess. It's like if you're if you're younger. You're just starting out you come in. You're like no I WANNA use this. This other language like probably like the older folks of the company are like us. This upstart like like like versus. If you're older it's like okay. This person has an opinion from their years of experience wrote it. I mean yeah I think so yeah and again I definitely only played pay social capital like it is very clear to people because I'm an expert an are like the type of work I do. It's Dietrich's. Where's this the people who are really expert in like temperature flow type stuff for us central flow but like similar like there's a lot of people just like Pie Torch package which I just learned. There's an art torch passed. I guess I probably shouldn't fit like a little bit of a late like a sign prosser rouser for something. EA everyone else's writing pike towards Artur Anyway the point is like I'm just going off to doesn't have to be a point I mean assignment or connect uses are for like. At and T. staff so right yeah yeah so it's not so much a question of is are capable of doing this or not. I think it's more like there are two languages that that are capable of doing this. which which? Which one are we? GonNa Use Right. I think that's a question that a lot of companies probably asking is going to and it's just like you know. If you're gonNA choose one someone you know one group is not going to win out yeah yeah and I think I wish more places made. The choice is fixed it of like well. If we WANNA maximize like hiring or I mean and I just I I feel very lucky that I'm in a workplace where they have this sort of entrepreneurial model so that it it basically means. I A highly supported in everything do yeah because it's like okay yeah. You let that will enable it like you have a random idea like go for it like it's it's great. I mean it's it's a great workplace for data science so yeah. I'm not you know that I hear you say this. I'm not sure that everyone thinks of supporting multiple languages as opening the doors for hiring a wider range of people like you know what I mean. I think I think they might guess that they look at their requirements and and then just condition that and the higher whoever can fit them you know it's like yeah and so. I don't know so. I think that that I have a lot of experience working at companies last what I worked at. I was the one thousand nine hundred seventy but it's I don't know that's just my sense. I guess I mean they definitely will learn it quickly after if they don't well I guess so if you just literally right in the job rag like must know python not are but you won't even get people applying but like I mean I agree with you that usually if you haven't ever hired before you'd be like it's like this like problem that everyone has with languages where they think it's all about like the software and the technical specs and that's actually not like there's all these other contexts tax. That actually reminds me of the topic we wanted to get to but should we go to yeah. Let's get to it briefly at the end. I mean so someone made that comment to because I was I was I was musing on the fact that so Richard Solomon has been fired he resigned from MIT. I T. because he was saying he was like essentially supporting Jeffrey Epstein. It was just like I don't some ugly things that were always there apparently like like people in the know people who knew him are related closer to him like in the sphere of influence of him like basically knew he was a creep and now more people not secre resign yeah yes and he had stuff like whatever. I don't even want to say. He had things like on his website horrible. Just his website is anyway but but you tweeted about this a couple of weeks ago yeah. I was just wondering 'cause it's for. I realized for me. It's like there's there's like me liking are being into open sores and then there's like kind of the like open source political like vigilante movement and I don't even know what to call it and I feel really removed from that ladder and I feel like Richard Lamm assertive in this the latter group of like it's like ideology e the at whatever yeah it's kind of like a libertarian ish ideology yeah and yeah. There's a there's kind of a couple of stand out. People people like that. Well and it's like all those people are like many well. I don't know like people were sort of back and forth but like many of them have come out how is like total creeps. Linus torvalds than now Richard Psalm and other folks too 'cause like the it's like the libertarian thing like there's other ways that manifest did not pretty ways and with Richard Solomon. It was the fact that like baby. Pedophilia is not a big deal Klay. Hey they said yes. It's like Oh my God like it's ridiculous and then Linus Torvald. It's like the whole kind of Lake I could be. An asshole is just about the work like yeah exactly and so that's kind of what I was saying. I was like you know it feels like I don't WanNa get like political Michael about the ideology because the people who are like don't like right. I don't know what the disconnect is there but I don't want to be part of it. You don't have to just socio with those with those people right. I mean yeah and I think also what I was reflecting on that for be. It was always open source slake. I started my programming career in our you know and so there's not really I wasn't part of like the proprietary world that they were rebellion against. You were part of the revolution. You just benefited from it. I just benefited from it and so and then I feel like what I see. Now is not that like everyone developing an open sources like this ideological like champion. It's just at that's where work happens and said they work there and they're like competing with each other like it's not like it took away competition or capitalism or whatever they're like. I don't know it's hard. It's like it's almost like back to this stuff about data table. Whatever it's like these people are still like tearing each other to shreds like but it's not like this is like oh like everyone's motivated by like wanting to solve world problems is like I don't know I think they're still just US competing and now the now the prices more opaque since it's not money right lows the people like Richard Solomon Tour. I think they came up at a time where everyone in their community was united in some sense by the idea of open source. Chris versus kind of proprietary software like Microsoft and you know whatever and so there was there was a sense in which the community was was smaller. I don't know about actual numbers but like you know because there was this there was a kind of a unifying principle there or at least at least one and now like you said now uses open source software. The community is united by that anymore right so it's it's way more heterogeneous and I think this is this is what happens when you when you win so to speak and I think the same as with are you are is way more communities way more diverse and heterogeneous than it used to be and and so dealing with that is is like is always a difficult transition dishes. I think for any community and I think I think every year I teach my class since this is in a called statistical computing and in the first lecture I talk about well what is open source software what is free software right and every year that goes by at that part of the lecture feels a little bit more anachronistic. You know what that caught my eye this time around on is I talk about so the definition of free software this four freedoms right and is like freedom zero which is like well this four freedoms and the basically the get to the second and the idea is that you need to source code of a software needs to be available in order to satisfy all four freedoms okay which I think that is super controversial right in nine hundred ninety eight right right but I mean it's kind of controversial now. It's not like everything is open source software right but it's not like it's not controversial is just some companies decided not to do that right right yeah and and so and so it's like you know you have to make a choice but it's the mere idea of it is not controversial anymore yeah right however. I actually think that today the most controversial freedom in the so the kind of like definition of free software is the first one which is which is called freedom zero as it says that you have the freedom to use the software for any purpose out. Al Right yeah which I think is super interesting now because I feel like that was like beliefs controversial. I think freedom I think back in the old days uh-huh because it's like well yeah you have the software you should be able to use it for whatever you want but I think that I think that is controversial because I think not platforms like twitter or facebook or whatever are open source software. They're not they're not by any definition but but it's like the idea that like you know some you you may be restricted from using software for certain purposes. I think is more controversial yeah. Actually you know this really reminds me. right after twenty sixteen election which we discussed the Iran into Sunlen and from airbnb hill was like genuinely distressed. It's like I like. It's hard to explain. I mean everyone was distressed but like like she was genuinely distressed at the idea that open source projects from AIRBNB might have been used by like Russians or by. Do you ever I remember being like she. She literally was just like I don't know about this open sourcing and I was like that's a good point joint like yeah I would feel like crap if my stuff got is for nefarious purposes right yeah and I think and I think that's kind of hidden in the background of most opens really all open source licenses. You know it's kind of I mean like all. All proprietary software that you use has a restriction on what you can use it for right. I mean says here's what you're allowed to use it for and you can't use for any other purpose purpose right right but I think basically all open source licenses allow you to use this offer for whatever you want and I think most people don't really think about that but I think I think people are thinking about it more definitely yeah. I mean there's some of the licenses like restrict you can use it but in in these settings you need to pay yeah yeah yeah so now that much about licenses but I think you know the stock boilerplate eight type licenses that people throw out there for whatever open source packages. I think you know they don't really have any restrictions and I think the main concern I think previously it was like to make sure that people understand that warranty right like something goes wrong. They're not liable but I think you know the kinds of software that we're building these days the art official intelligence or machine learning or you know they. It's it's not a stretch to think oh well. They could be used for some areas purpose right right right yeah. I guess you're right especially with the like facial recognition exactly I don't know how much I don't know how much there's probably there's definitely some open source. SPACIAL recognition conditions software run I Yeah I would well. Maybe not I don't know but and I'm sure that you could hack together with like you're still yeah yeah. The lowest rent lists as someone violate. If you have something that's like you cannot use this software to harm people like how would you enforce it. Yeah yeah like what would you sue them armed. I haven't the foggiest idea aren't most of these licensed untested in court yeah I think for the most part I think there was I was I was just looking this up a little while but there was a big court case is over Lennox though and so I don't know to what extent it tested the license of GPL license. I think but these things have come up Corp.. I but I think you're right in the sense that they don't come up very often but I do. I do think like the Free Software does litigate instances of license violations. They have a whole compliance unit ESCO so but I don't know any details at soccer that any details necessarily become public blick yeah you know he's not going to be into limiting who can use software who Richard Solomon all very explicitly not into you know other laws protecting people. We don't have to go down that road. It's just whatever I mean. It's I think that's I'm really glad you said that because that's clarifying where it's like. If you WANNA be be only way I would feel comfortable. Being quote unquote political about open source is if I why did like like that would be an angle that I could get into of like let's build like do no harm tight stuff around open source and then I would be ideologically logically departing from mid Richardson Allman and that whole posse people. It's like someone posted to someone else of like really like this guy too and it was like most is what competing was finally got to the end and him like gun stuff. It was like the Nana's years yes so the person that stands on my mind is Eric Raven Yeah. He's he's. He's like Super Libertarian. you know. I think it's funny. How like like are kind of like the the world changes when these people are view of a lot of these people kind of changes and it's true I think like most people who use open source software now. They didn't sign up for all this nonsense yeah exactly. I never would have signed up for that that yeah yeah. I'm staunchly Anti Pedophilia. It's like I think hopefully most of our listeners are too. I'm glad we we talk this out because I couldn't quite wrap my arms around it but there was just this feeling of like I don't want to be associated with them and if being political about open source means that than I don't WanNa do it and I feel I'm just such a pragmatists like I see how this stuff is working on the ground with like again in all these kinds of light competitions and like what's motivating people. Whatever and I'm like this isn't like this isn't like some sort of like ideological situation wish these are just people doing work and this new workplace right but but actually I political about wanting to figure out licenses like they Gino harm things the whole Richard Solomon thing came up so I didn't even hear about I actually cried cafo like notified of it. Apparently don't read the news. Well ahead use twitter like two days after today's but it's because I hadn't really thought about them at all in like years. I know I know like I feel like you know he didn't he die. One time I the whole open source software thing is it's way bigger than him now obviously and so like. I didn't really think of him as like a major figure anymore and I think less ah even I think he's less relevant some sense than little Torvald who still has a lot of active development or hey had a lot of development in developing colonel. They still alike on leave figuring his stuff out. that's a good question. I don't know I haven't kept close track of that. We just need to release the New Yorker article every year so that keeps him in the shadow of you remember it was like at the New Yorker decided decided to do an article about how abusive he is and like because they are right in the article. He was like you know what I think. I need to take some time off. Reevaluate wait by life choices yeah yeah. He's a lot more. I think he was like I think a few months off and I'm like you're going to need twenty years. I I don't know if he's back anyway yeah but I mean the thing that was so disheartening to about the STOLMAN UNSA is like I feel like I got this like you said I came in after the revolution like like my mom is a mathematician. She faced so much worse sexes in the me. Lake eight and like Bio said is a lot of women you know the chair. My Department was the woman that I think that the class was like fifty fifty at least yeah roughly yeah and so and then I also like like the one like credit. What'd I GET MYSELF INSTEAD OF IN INDIANA. It was worse for sure like I definitely in my. I like my freshman class. It was all boys in unlike for all young men. I don't know E. Call Sixteen year old fifteen year olds fourteen all boys and then like three girls roles for girls and there's like probably like sixteen boys or girls and then this one guy just like look back. He's like well. Do you really think is a coincidence. I now it's like I mean no not for the reasons you it was in that was actually just surprising like like. I was like confused missiles like oh I heard tale of this like people saying stuff like this 'cause your world's just so different when he grew up with a mom his mathematician partition and you're good at math 'cause. It's like Oh this white girls. Do you know it's it doesn't anyway. The point is like I didn't see the worst of it and then I've been in in these jobs like I do think the credit myself is that I do interview for Culture and I think I have like genuinely figured out these Mike Nice bubbles within tack like at the Stitch Fakes and there's. I don't think it's a coincidence that they're kind of women's centre products. Whatever but like in the real world is like awful like people. Everyone knew about stolman doing the stuff in like someone tweeted out like yeah I was meeting. I was like at a dinner with him and he put his hand on my knee under the table and like everyone was like yeah that's what he does. It was just like Oh my God it's and I actually I know I know someone who knew like these Linda's or Linas aren't though I always thought it was Lewis because he's like yeah yeah okay well that guy him doing crazy stuff party. I realized that I have all these stories areas of people in the world. I don't know it seems like I've found the enclave of like. Nice people yeah. sorry people experience that awful anyway. I just have two more bits of of male slash. Follow up quick one is that Martin e emailed us and about a keyboard. I don't know if you he says to me is the Ergo Docs keyboard interesting and let me see if I can. I can't really send it to you but it's it's one of these two part keyboards. Nice heirloom quality is like is there would involved no sorry. Did I talk about that one. Last time I think you did yeah remember it over the heirloom quality like you've passes keyboard onto your grandkids remember when as they're not just going to control everything with like the a chip implants in their brain actually. Have you seen that star trek where it's like what's his name a I think it's the lead when they're in San Francisco okay. No I haven't seen that. It's a good anyway. It's one of the movies and so they're going back to the eighties. Oh Yeah Okay Star Trek for. I think you're right. That sounds like right anyway that was of course that's like everyone wanted actually extraterrestrials by their least favourite maybe most favorite movie but there's the scene when like Scotties like trying to work with a computer and he's like variety told you this like goes up to the computer. He's like hello computer and then they're like no no no. I I use the mouse so they had in the mouth and then he picks up the mouth says into it hello computer he's visit. Does it like the computer and then it's like they're like Oh. No no just use the keyboard. He's like oh how quaint and then just like type anyway. It just reminds me of like it'll be like Scotty. It's like give it to your grandkids there like how quaint I just said you the link to the keyboard because yes the last piece here is we always have to end with a some sort of milk related discussion but Maxime Tur- Turjan. I'M GONNA say says I live in in the Canadian prairies where we proudly reproduce canola oil. I can't for the life of me understand the hate in the last two episodes what's going on. Is it just that you don't want to pour any oil in your coffee so what's wrong canola oil. I guess I have my reason but maybe you have a different one. I don't think I now my heart is broken like offended. Canola oil producers reducers well. I was just by feeling it was just it. Just it just feels weird but I don't have a problem with like had a problem problem with I think actually I think this is like a sad correlation situation where it's like usually canola oil is produced like low low grade oil like it's not high quality okay. I didn't know that well. It's like it's like the most. It's probably like the easiest he is to produce. It's industrial grade canola oil a thing in my head. I don't actually have any facts whatsoever ever of those but it's like if you go to like McDonald's or something like the oil they're using there is not like high like they're not like. Give me the best oil you have like. Please put through the filter five times I I don't know how oils produced but however whatever the worst possible like barely scraping by version says let McDonald's this juicy. My understanding is that at least in the past. I don't know what's going on right now. In the past the oil that you're thinking about is soybean oil. The is like the industrial cooking oil one step above what you might put into your car exactly. It's like it's like to put into your car. Are Your body like that's where it's bad. I don't know it's like it's like the like the big vats of canola oil. You can get like at the grocery extre- like in my head those are Cleveland but they're only in my head that way because someone told me that like someone who's a chef you know so. I'm like okay yeah yeah by it now. I feel bad because like it's probably not the product. It's like the Association of the product right okay with like so anyway. The point is I should we'll back my canola oil yeah yeah comments and as I said they make a point on the only thing of saying that can all oil is this is good. Could all oil like some sort of acid cut like a hut like low acid content oil or I can't remember how they phrase it again not knowing anything though seem like the right buzzwords to add to canola oil two guys to me just kind of like sounds weird but like be mixing oil with this. I agree with that but that's just kind of like if these set to which you disagree with it yeah I do. I had a friend who wants to said that her uncle or someone would like take casse shot of olive. Oil everyday go to like keep his levels you talking about like their levels. I I have no clue seems like a risky proposition. All those would be good for you. Would you take a shot of it. No yeah I mean same with coconut. Oil people eat that like like just like eat a gob of coconut oil for you I under now so yeah. I guess you're right just like the thought of drinking oil. It's probably y you know. It just doesn't feel right. It doesn't feel right and then if you think about if you have this bad association with tunnel oil of like it's like cheap and poorly processed atop of that but like yeah I I feel bad now so thank you for writing in a glad that the canola oil representatives are listening. I should actually like learn any of this. I had yeah like like I should do some Google research and come back next time because there will be more alcohol I for whatever reason I'm on Oatley. Take now like I'm drinking a everyday multiple times a day. I don't know what happened. The weather's changed is colder feels more. You know this is like when I started eating oatmeal exactly what was just look an. Odi season an Odi yeah no I definitely I told the the Barista the near me I was like I there will not be consistent. I'm accepting that. There's an I can be consistent requests for me. Sometimes it'll be oatmeal. Sometimes we'll be regular just deal. I'm not I'm not just walk up and you have it ready like I'm. GonNa need to make a game time decision. What does the Barista is that they're like. Why are you talking to me. Were you yeah. They just have to like be nice. Everyone is kind of actually you know another thing with robot coffee quickly. Is that actually the the breeze who I talked to you the most at this bluebottle. He was like employee eight at blue bottle. Yeah 'cause I mean I'm like I'm at like one of the I like the Hayes Fat. I mean they haven't espresso name taste valley like it's this is like the one of the first blue bottles and he'd been working for a long time time and he he just like he's leaving and he was like my hands hurt so much. I'm so tired and I was like oh no. I didn't really I mean of course four stay. Do that makes me want robot coughing more because I don't want my lake favourite Baris to be physically disabled tabled from the coffee so it is tiring I think if a typical shot by his shop might go through like two hundred fifty expresses in a day day or something like that yeah if you're like the one person who has to make them all it is. It's it's stressful on the yeah. I mean this place that I really liked cafe acts. It's interesting 'cause like it's not like a you know like basically they're like. Let's keep people around just do customer service so like the robot makes the coffee and it's just I mean I don't get the startup. It's just as coffee machines with like good coffee in a organic milk only and n n n the people who work there are like actually talking to you a not physically exhausting. I was talking to one of the guys there. He was like yeah. I used to work at starbucks in like like by the end of the day. You're so exhausted whereas here I'm not an lake. I can actually talk to people versus. Another robot coffee startup is just. It's almost like a vending machine like there's no people at all and I'm like yeah. I actually think I like the kind of lake the robot's there yet to see an industrial robot doing like intricate work which is kind of fun and then they're still human so it's not just like your like cafe balance of like some humans. Are there for the human part. It's like sticks yeah. Keep the human touch but exactly.

T. It John Chambers John Chambers Kurt Liquor Richard Solomon Simon Urban Ac bell labs Lake Right Production Co Jj Allaire programmer Hillary Parker Twenty Twenty Studio Roger Payne Aquino founder Linus Torvald San Francisco
What does the future of start-ups look like in a hyper-connected world? | Ep. 157

The ROI Podcast

33:24 min | 9 months ago

What does the future of start-ups look like in a hyper-connected world? | Ep. 157

"The more diverse your team with common values and common culture that much higher the probability of success and that is undeniable in every steady. You see everywhere. Welcome to another episode of the roi. Podcast presented by the indiana university kelley. School of business. I'm your host matt. Martel up joined by the dean of the kelley school of business. It kezner here on the show. Our mission is to help organizations make better business decisions so if this is your first time tuning in we just want to welcome you to the kelly family and remind you that we exist for you so if you're a leader who struggling with just the hardships of just the reality of running an organization whether you're wanting to find new trends and get a whole the some are faculty to see where industries are moving or you just know of a great individual who make an awesome guess for our show. We would love to hear from you send us an email to roi pot. That's roi peo- deep at iep y dot edu. Well there's no question. Twenty twenty s been a wild ride almost like a movie script if this if it were to made into a hollywood film and it's it's just something i think that's going to really start to prove and show the resilience of of this country resilience of this world and i think in this time. I think we're gonna see a lot of growth. I think we're gonna see a lot of organizations development take hardships and take problems and really leverage that to find solutions to. How do we make a better future and a lot of. That's gonna come through the creative mind of entrepreneurship and so today. We are unbelievably humbled and honored to be joined by the ceo and founder of jc two ventures. Who's also an alum of the kelley school of business. john chambers. john. Thank you so much and welcome back to the podcast matt. I'm looking forward to today. And it is a exciting and yet challenging dom we find ourselves in. I want to start off from the from the get go. You know for those. That may not know You know you were the ceo of cisco networks incredible technology organization for over twenty five years you know and you've made the transition now into The startup which which is an interesting transition when you go from from established organization. Who's got such a great footprint You know i. It's known throughout the world Could have gone to another organization. it's well established. But you know you decided to jump into the volatile startup world. So i'm just curious to why that transition was made for you. Well i. it's a great question matt. It sounds like a question. Your audience with thank. I've heard many dies before. I have not and it's one that really makes me thank but when does pretty easy for me to answer. My time at cisco was a tremendous rash. I and i think many people would say we did a lot of things that we wrote the business books about entrepreneurism innovation scaling benefit of economic. Return to your shareholders yet benefit to society In an organization from four hundred people in seventy million in sales forty eight billion and seventy five thousand people and we did win every corporate social responsibility award imaginable. But it's like anything in building a family accenture. You wanna turn that family over to the next generation to take it to the next level and my heart is really around innovation and speed of movement and making a difference. One more time. I would argue. We did a pretty good job at that. Cisco changing the way the world works live. learn some place in originally said that every said no john. You're you're techy company. That has the tech departments in indiana talking to the tech department said stanford document tech departments at ohio state except for house to change the world of the internet clearly. Did my goal with the stage. Lights is to do three things. I my family is the most important thing in my life but the three goals i have a personal perspective business i back is. I really want to make a difference one more time. Secondly i'm gonna live life to its fullest in third to give back and what i'm doing now allows me do all three. I believe the next challenge for this country and for the world is the large companies because digitisation would not create new jobs They will actually decrease jobs in total so it says all job creation has to occur of startups and small companies. Getting dramatically bigger. And we gotta do that in a way. It isn't just silicon valley austin texas new york. It's got to be included in all the states throughout the midwest southeast of which obviously i'm very passionate about indiana and ohio west virginia on and then i'm trying to do that in france with president mccrone with a prime minister modi in india as their ambassador saw upward startups digitisation. What caused me to change is a loved to move rapidly and i. It's a abbey. You will appreciate this strength in weakness. I try to do too many things and not only do. I get encouraged by that. I try to do even more just finished structure behind so to -bility to change the world by getting manure ship into established companies and entrepreneurship into startups at a much faster pace and to be the champion of that. Perhaps and teaching how to do it. This is why. I love the idea what you do every day. Each your students is so important That is fun for me and when you can maybe change the world and people said you can you actually can. You can make a difference and we can maybe talk later at just Example what they've done in only three years of entrepreneurship and changing education and dreaming which they weren't doing before on so. I'm trying to change that. I think the number of startups need to go up in the. Us fat three x. They've got to be inclusive. Across the whole country we need a national policy for startups in innovation. We've gotta realize we are no longer the startup nation reading sales hit by the europeans and their countries out of asia. And we're doing it in a way. We don't wreck we're gonna have. Huge income divides within the country Both by geography About people of color By age in by gender and. i think we can fix it so to do. That is fun. And it's like having kids. I get the have a huge circle of family a tighter circle family than have eighteen that i'm actually invested in and i'm already interested in only nine fifteen in the morning near west coast. I've already been communicating and working together with five of those companies already today. So i love what i do. Hope it's going to help. Change the world one where it is to do it. I think my teams up. Alaska fishing Each year and helicopters copters fly into remote locations with the grizzly bears and build culture. And then giving back to make a difference so it. It's as you can tell my people's late when i talk about it. I couldn't be more excited about what i'm doing and i hope that i do a good job for saadi when we're done john going back to. The comment kitschy made About the united states in contrast to other countries like israel jordan france and india. You stay at. The united states is one of the few countries in the developed world that laxed national digital strategy North point in time are there. Any significant policy moves that would put digitisation combined with becoming a startup uson on the radar in washington a. and you really emphasizing that. This is not from any specific political party but you Acknowledged scope of digital revolution Needs to be you know. Public private effort investment. Any you save Vigil the digital future should be a you know a left right. Issue are republican democratic issue. What will it take to get our country moving in terms of a national digital strategy. We will. I have tremendous confidence in the future of our country. And while at times we stumble and we do strong stumble. And i think it actually makes you stronger you stumble in recover from it is. My parents taught me eventually. We always get it right and one of the dangers is. You can take for granted the beneficiary evans society and then all of a sudden when they're no longer there. You say what happened and the answer is we kept doing the right thing to law. We felt entitled without using those words. We felt we could just continue to have the benefits of strongest capitalistic system in the world and the benefits of data across all population. And then we realized we're not getting it the level leak and As you articulated properly. Israel's always the first to move with innovation because they have to to survive of a nation of seven point five people a million people on it. And then when you saw france move with digitisation policy startup. All say in you saw india. You realize one of the too much oculus countries in the world in a country that was not known for business. Neuro inclusion suddenly leading. You gotta say what are we waiting for. So i'm optimistic. Regardless of how the decisions end up in washington that we will say to get this economy going again. It will not come back like it was before without doing things dramatically different especially the inclusion and that reaches across all areas. You know what you're doing in the university. And i love the a comment about kellyanne here. We exist for you as continuing education and the involvement Not just for your in based businesses but after you graduates and i think the curriculum of colleges have to be turned upside down in refocusing entrepreneurism. Regardless whether you're going to be a doctor a lawyer A number of arts or business or an economic person you have to have that core and then as a nation we need to get back on our game. Set audacious goals We've got to become the number one startup nation again. We gotta have the transparency. We are not. We're not even close are startups are back where they were decades ago. And other countries like france there startups in the last five years up. Five hundred percent and there is no entitlement for us and we're gonna get challenged. The big wave from john In terms of leadership technology in every company comes technology companies so we do need these policies. I'm obviously patient about it. And i challenge the people listening to our podcast today l. Make they play a role in making this app. You know it's interesting. I want to go back to something you said about the this concept of you know. Large corporations cannot be relied upon in the future for for creating all the jobs. I mean that's been a mentality where you get that job at that big company and then you're pretty much set for life you know there's that perception and you know you're saying that actually lie. These jobs are gonna come from the startup world from from the small businesses. They're going to grow and you also kind of grind that in two or merged that into the idea that even if you are within some of these major organizations. The mentality of entrepreneurship needs to be embraced. Whether you are an entrepreneur making. That's how you make your money or your within a large corporation. You still need to embrace that mentality of entrepreneurship. So i would love for you. Could you address you know. what is that mentality. You know what defines that mentality of entrepreneurship. Entrepreneurship can be such a broad term in. So what are some of the characteristics that people are needing to embrace so let me set the overall stage that you set up so that answer very specifically the question if you watch in the large companies and i was trained by a great graduate school in the versity and a law degree from west virginia Undergraduate for a couple of years at duke But avas talked to do the same thing better. Each year by about five percent and that was very acceptable in industrial revolution. War world that we existed in. When i graduated quite a few decades ago in today's world it is all about innovation you disrupt or you're going to get disrupted you have to deal with the world with the challenges that exist today. That are that his speed and at the core of the foundation of all changes will be digitisation technology regardless of the industry within that forty percent or more probably closer to fifty of the large companies in indiana won't exist in the media at me away in a decade and when i first started saying that about the fortune five hundred people said no now my counterparts would actually save probably. That's do conservative. At number and the head count increases. Were not occur there so the large companies have to innovate faster pace and yet they are pretty practical that they are not able to track the same level of talent that they were before and that talent both out of school and often movement within a given geography will occur into the startups new innovation capability and using just an all. Is you saw that. The chief financial officer out of general motors just a couple of months ago went to strike a startup on out here in the west coast and a chief financial officer out of four Who was prior amazon Snap experience accenture a great. Cfo at ford. He went to one of my startups. Two hundred fifty people asep artificial intelligence customer experience in new. What i'm preparing you for is the majority of graduates out of indiana or out of Matt homestate west virginia Stanford mit are now going into startups and startups have a innovation mentality with their funders anticipating. Defend your bet. Large companies get asia discord of this year and actually can get analyzed thanking five and ten years out. So you're going to see large companies after re-embrace entrepreneurs some also work with startups in a way they haven't done before in a speed in it's hard to do. And that's one of the major trends that i see is innovation in large companies coming from both internal but also parting startups in the way. They've not done before. In large part because the start ups are able to take risks and innovative faster pace they also attract some of the best talent so what characteristics you have to have a attitude of innovation. I'm a little bit bashed miss. There is only when steve jobs he just knew what to build. I go to my customers and asked. What do you want me to build. Who do you want me back and thinking of this idea. What do you thanks. Should we do it or not. So i think entrepreneurism really focuses in the in on the consumer on the customer it focuses about speed of movement. It focuses about a new world. Would you gotta have technology as foundation and it's uncomfortable for my status regardless of age or training to really understand how to use technology change healthcare or education or government services or retail for on it and so the skills that are needed now are more entrepreneurial and i think the program state to be done by by the crosses school but all the university In terms of thinking about entrepreneurism for every edi gory the skills have to be about speed of movement. And not doing the right thing too long. That gets you into as much trouble is eighteen stupid ass. it's about. How do you combine technology in understand yet might surprise you. I didn't realize technology It was it was kind of young a modern interest me. I love what technology can do to change this or government or our lives in all of us have to understand how that technology with new areas like Artificial intelligence in the internet of things digitisation and cloud moving to the edge. What impact will have on everything driverless cars to change in retail models accenture so the skills needed are a mix that we haven't seen before and it's with the speed needed both for existing retraining while the kelly family concept but it's also about how to the university which we still need in the world have the best not the same delta we used to have in the world have to recreate themselves and we do need national programs to do this. Well in my opinion i would have never said that is a businessman in a moderate republicans. Just a short time ago but we do and government does this education society inclusion. We have to work together in a way we've never done before regardless of political party regardless of geography color skin religion gender etc. You know agenda. Follow up on that. Last wayne's Referred also to diversity in another answer to the question annual referred to attracting developing talents in your book nearsighted. Here's a quote in your book highlights and said any country that makes it hard for women. Minorities immigrants retirees the unemployed or other groups access the tools talents and support navy. Decrease startups is making a mistake. And i find it fascinating that saved. Don't tap the challenge and a country has to offer you risk huge way social unrest. Can you share an example. Either of a country or company that has been successful in harnessing the towns women or minorities or immigrants or even the unemployed in order to spur innovation. So choose the country. Which i think all familiar with israel in the late shimon peres was a friend for seventeen years it is truly the startup nation and it was a start up nation that was completely inclusive Wish him own. I would travel upper nazereth lower nazareth about the arab community with They jewish community christian community and he did it without fear. I mean we were getting crushed by the mobs. If somebody wanted to take out it could have easily happened at any time. And then i'll go over into allison at the full support. The palestinian the jordanian jordanians the Israelis and talk about his startup community there then out go to a very remote part of israel into the desert and talk with the nomad tribes and others. How they education has to change to make it includes city. And if you've watched there's one nation has reinvented itself again and again clearly israel and it's done it across the society and against all odds I think we grasp that Let's go to the general rules. i'm a. I'm a dreamer and i connect the dots and pattern recognition in part because i'm dyslexic. I have to go. abc. I don't think abc fifa picture. How this plays out take snapshot on my mind and say how do we get there but diverse teams always out execute teams that look alike and that is undeniable in every steady. You see everywhere so the more diverse your team with common values in common culture is important. The more diverse your teams at much higher the probability of success. I did one session this morning. with raji the ceo of sprinkler. He is rewriting. The customer experience using all forms of modern kastner care modern listening research accenture to really transform how companies interface to startups there. There there are two point. Seven billion dollar unicorn probably hopefully go public in the next twelve to twenty-four months But we focus today on several topics we focused about diversity and his team is about as diverse as you can get and you look across that you see huge diversity out of india and the tremendous strengths. There you see gender diversity with tremendous power and capability and their teeth culturally. hr arson. Diana not worked together. Cisco she is an amazing champion of that You see their cells lead out of italy. you see the diversity of the indian diaspora in terms of the knicks and just got funded Almost two hundred million incremental funding in three hundred million secondary funding in this area. Another movie a company called uniform which interesting well was out of india and then came here to the us. I picked out of that at t's in india at a they do things. Like i think we need to the us let's like stanford has done about incubators and accelerators and they will leading. I t's produced now about one hundred startups a year. Each at a whole different scale and the startup uniform just happened to be the number three one out of this One of the. I t's ten years ago and when i got involved with they were growing about a hundred hundred percent year-over-year their evaluation was about thirty million and headed up by brilliant founder. Who at that time after myself. It was just turned thirty and his partner and Is the in his partner. Robbie co-founder In the same age and they've taken that company now from a company in india the company is moving to the us their next round of financing to already to save for sure but probably will be in the five hundred million money seven hundred million. They're growing like crazy and they are as diverse again. they Three out of the last six hours at the senior executive level where females The diversity in terms of the people's backgrounds we new yorkers which are truly from a different country. Sorry your friends. We add teams out of india and singapore We bring people that have backgrounds in startups and those that do not on it and The lead Cro female and she is. She's she's tough to beat. Darren is just amazing. What cheetahs and you know what i'm saying here are the fastest growing most profitable companies imaginable. I and they are all Diversey lead may be one last one to hit the po point radio. A set out of new york city headed up by a young person whose parents immigrated to this country and gustavo is just amazing. What he's done they are and again one of the hottest Companies going there. Next evaluation was well over six hundred million owes money. They have fifty five. Phd's of machine. Learning artificial intelligence were for talents. Amazing they got the whole. Mit graduating class last year. all four of them I and they got fifty five out of two hundred and fifty people and so you do see a movement. That is amazing talent. But the point. I'm making is startups are getting the downs. And then these companies are work with big companies in partnerships to achieve their goals. So it's a playbook that replicate but it's one that that you see unfolding right in front of us. I want to shift into the actual tangible principles of entrepreneurship. And i know in your book connecting dots after a fraud our listeners as well highly recommend checking it out especially because you have one whole chapter dedicated to kind of a one on one question and answer session. Were you offer thirteen questions that you get the most the questions that you most commonly here no matter where you go around the world and you know so highly highly recommend that part even just for that chapter alone But i have a question for you. That didn't make the listen. I don't know how common this was You know there's there's this concept of you know if as as someone who has worked with organizations in college Even out of college in various sizes and scopes and getting started. You know there's a lot of energy initially in that first time when you're getting on the ground everything's fresh. You're hitting goals like crazy. You know but as you hit some really major stretch goals. There's this tendency for an organization to plateau. You know the hit a huge huge goal. You know whether that be a building. They finally wanted. Maybe they grow their team to where they want. Maybe they crossed the million dollars in sales or couple million dollar In sales then all of a sudden once they hit those big milestones. There's a tendency for the energy and the momentum to kind of plateau in organization so from from your perspective how can organizational leader both anticipate that plateau when a major goal is about to be crossed and then leverage that momentum to continue on to set the next course For for a big goal. I think you know the question and and interesting enough. It's almost like you've been following me around this week. I dealt with that in into groups this week. One group that just one of the key deals that caused them to cross the chasm. If you're jeffrey moore fan move from early. Innovators interesting company. We survive to the early adopters in a big scale in when they won the two big deals and they were competing funding. It was almost like a emotional at down. The highway is gone. And you have to anticipate that and you have never understood. Exactly why but after a company wins big award or wins a big customer relationship is almost a letdown that occurs a journal and is no longer bumping except and this is where leaders have day. Anticipate this worker whether you're in a big company or small company whether it's accomplishment in your division or your segment within a big company and you gotta anticipated celebrate the success and then right you're still in the high move to the next level and many people believe that you never waste crisis and many people myself included. If you haven't got a crisis going on on may create one to stimulate the group and get him to move. I guess one of the few benefits of what is occurred this last year. Is there a lot of crisis going on at the same time. And i think we'll run. Organizations guards size will respond to this crisis will actually have never seen innovation move faster than we are right now. So you've gotta anticipated you've got to evolve it one of my startups. The ceo and the head of hr called me about two weeks ago and said john. We have an unusual request. You you. you're on our boards. You felt our leadership team. Many times you know each one of them but we have to get this team fired up again. We've just accomplished all the goals we've come through the downturn. The survival position for the future we just got huge fundraising just gird. Our momentum and growth is is really going but we are zoomed out. Where little bit exhausted. We haven't been able to spend time together so little friction is beginning to spillover between groups We got to did his challenge again to go to the battle and really focus about breaking away from our competitors. And we want you to come in just unbelievable candid direct conversation. Qna of all eight of our top leaders. And i'd never done one exactly like that. Even though i speak the leadership groups all the time and we went for an hour and a half and it was amazing the give and take but it was exactly the question. You asked that it was exactly having gone through this. How do we get up. And how do we go again. Because rashi thomas the leader of that company. He knew he needed to police old team. With and part of the time he can be the lead dog. The dog sled and set the pace sometime. You want somebody who's been there done it before and watch the negatives if you don't change if you make a mistake the plateau after plateau comes what declined and then survival and then probably out of business so once you've seen that you know what happens that's why the book is example wang laboratories doctrine wang most brilliant never met my life. It was the leader of the computer minicomputer systems but that whole industry in boston. Twenty eight disappeared. Hundreds of thousands of jobs Decade over one hundred thousand wang at thirty two thousand and it was because we plateaued and we failed to continue to innovate and we took for granted. That what we did. We just did a little bit better with each juror future sue. John is our final question. You know you were just speaking about crises. And in the beginning of twenty twenty we all have big dreams and then of course we hit the pandemic and since that point. We've all been worn down. And you even just noted most people listening to this probably weary zoom warriors. I now so we. How do we look forward. How do we get entrepreneurial activities up to the three times level. You mentioned it if you can offer just maybe one or two final action steps actual lessons that you want our listeners to walk away with so i think we have to get back to dreaming big. You've got to have the courage dream to take risk. And then how do you implement these visions. And i think without realizing that not only. Are we getting that. Adrenaline rush stopped. we're plateauing. We need to get back to dreaming baker and dreaming it three times. They've of a opportunity with all startups. And i'm also meeting with large companies as well We made our changes in january february march and we were done by two With real land resources if needed with be adjusted to plan b. or c. in our business models We be a land. Our customer relationships re level set our investors what was done and so we went through the survival and now what we've done is pivoted. You can call the silicon valley staff the indiana to step. We've now pivoted to back to offense again and starting to grow and this is where the leaders have to lead by example it will be hard it will not be easy and it will be one event and it won't be one emotional. Let's go week make this happen. It's gotta be outlining vision and no longer about use what we look like we come out. But here's our going to get there in breaking it down to the three five or seven major programs you've got to do to achieve those goals and getting the message back through if we don't disrupt we're gonna get disrupt. There is no entitlement and then make it fun and celebrating this successes which are hard to do in a virtual world but all my companies. Now do halloween sessions over zoom With their employees in with their kids all of them will do different forms of. You're not a celebration of success. With a glass of champagne. Or meeting. Sessions or fund session. Sen so i think reinventing ourselves in this virtual world which is here to stay it will never go back to the world we saw before it would be a blended version of physical and virtual. But if i were to just say one thing you've got to remember how to dream especially our nation we've got dream. A nation toward one common goal a dream that leave america is destined lead innovation and the true forms of democracy and the best education system in the world and inclusion of all the people in this country regardless of geography regardless south of our religion our color arrest in our jim during center and i think we will lead again. It will be heavy lifting arbor when it starts for dreaming again. His book connecting the dots lessons for leadership in a startup world. Be sure to get a copy. John chambers such an honor to have you here on the kelly. Roi podcast this has been another episode of the roi. Podcasts presented by the indian university kelley. School of business. I'm your host matt. Martel joined by the dean of the kelley school of business. Id kezner here on the show. Our mission is to help. Organizations make better business decisions. We'll see next week.

kelley school of business india indiana indiana university kelley france jc two ventures john west virginia mccrone bility stanford evans society kellyanne america Five hundred percent matt israel forty percent john chambers ohio
GSMC Technology Podcast Episode 142: New Year-New You-New Tech

GSMC Technology Podcast

25:03 min | 1 year ago

GSMC Technology Podcast Episode 142: New Year-New You-New Tech

"Golden state media concepts technology. podcast covers everything mobile phones tablets games as we review it brave. It tested whether you're Microsoft or apple android or iphone will give it to you when you walk in state media concepts technology podcast. Hello and welcome to the G. S. M. C. Technology Melody podcast brought to you by the G. S. MC podcast network. I'm your host Mackenzie Cheek wish and thank you for joining me today. I really hope you guys are are enjoying our technology podcast. I'm really enjoying making it. And I love reviewing these tech products with you guys so if you love hearing my reviews it just as much as I love giving them please write a review down below or reach out through social media because I would absolutely love to hear from you guys and hear your your thoughts about what you would like me to talk about next but thank you for joining me on. Today's podcast on today's podcast. What I want to talk about is New Year's resolutions and tech products? They can help us stick to those New Year's resolutions it is a digital age and it's no wonder that there are a lot of different APPS and products out there. That will help us stay on track in the New Year so before we get into that. I want to talk about what what is new in the tech world. Our first news story comes from spotify for those of you that don't know spotify is a music streaming APP that it allows you to listen to your favorite bands artists when you're not connected to the Internet if you have the full package allows you to save songs and listen to the later so it is a very nice and sleek piece of technology that is very popular and a lot of people use so it is no shock that obviously obviously because a lot of people use it. A lot of people want to advertise on the platform however spotify has recently announced that they will not be allowing political advertisements on the streaming service. Starting in early twenty twenty so. This is very very interesting for one of two reasons one because there are a lot of companies banning political advertisements. So it's always interesting to see who will be joining that and who will be avoiding it completely and we'll talk about which companies have also spoken out about that but it's also interesting because the two thousand twenty elections will be starting pretty soon so they are definitely getting ahead of themselves. But I think it's a good thing to always be ahead of yourself that way way. They are able to better proceed in the future. The company has released the following statement at this point in time we do not yet have the necessary suspended level of robustness and our process systems and tools to responsibly validate and review content. We will release this. Just the company has released the following statement at this point in time. We do not yet have the necessary level of robustness and are process systems and tools to responsibly validate and review the content. We will reassess this decision as we continue to evolve evolve our capabilities so the way that they're really handling it is saying that you know it's nothing to do with it being political ads or anything to do with a political party that they don't want to advertise four but instead they are saying we're actually able to use this as a platform for people to advertise their political views because they don't have the technology yet to review the content in a critical way. So what do you think of spotify not advertising for the twenty twenty elections. That will be coming up just technology standpoint. We won't get into any of the actual politics of it all but it is. It's interesting to see which companies are allowing political platforms to advertise on their site. Google is still allowing political. ADS ADDS to run on their Google ads. However they updated their policies so that those political campaigns can only target by age gender and the Postal Code so they definitely did put restrictions on it which was also something to take into consideration whereas facebook has put no restrictions on their our political advertising and are allowing it to continue being promoted on their site? So what do you think about all of this going on. And when do you think spotify will have the technology available to really review. Those ads adds so that they can be promoted on the APP or do you think they shouldn't be promoted on the APP at all. Let me know in the review below or reach out through social media. Because I will. We'll be tweeting out some of the articles that I researched for this topic later today and I would love to get your thoughts on this new story so the the second news story will be talking about. Today is a tech legend. John Chambers has started a new startup called pathetic. And I'm so sorry if I'm pronouncing thing that wrong. It is a Spanish word for thinking. They are hoping that this new startup will face off against Amazon in a very David and Goliath away which is a very bold claim to make and I will not say whether they are right or wrong in making that claim I will just talk about the new tech startup all right up the distributed service platform they are a software defined age accelerator always secure and always visible platform running in any environment. I am getting all of this information street from their site. I will tweet this out later as well so that you guys can take a look at this startup. So they are promising. Software defined services accelerated where ever data exists they are going to eliminate complexity and less intensity highly programmable software defined cloud compute networking storage and security services in one. I'm single device and so much more. So they're definitely promising. A lot of stuff. That Amazon does and we will be interesting to see how this company Anthony Progressives in the future definitely with John Chambers backing them up. That is a very big name in the technology world so it will be interesting to see what happens with this tech startup over the next couple of years in our third and final story of today. This is a bit of a funny almost marketing story story which by the way I do also host the MC marketing podcast That you want to go check that out. I did not talk about this over there but maybe I will on on my next episode because it is Kinda funny but apple has released a new phone. I obviously the iphone eleven and it has a new feature called slow oh fees which is a slow motion Selfie and why I wanNA talk about it on the marketing. PODCAST is because the ads that have been released for this. This are hilarious. Basically people doing very silly things but using the technology feature it makes you look like you're doing something really really cool even if you're you're just sitting in your room and your brothers using a blow dryer to make your hair look like it's all wavy so it is definitely apple's newest like feature on the phone at his third new tech update. It's silly it's fun and it's definitely something that a lot of people will use for very silly reasons. It's not cutting edge technology but it is interesting and it is a piece of technology that we all know get to have if you have the iphone eleven so what happened with this and if you take a slow fee like tweet us I would love to take a look at them if you have the iphone. Eleven If I get the iphone Eleven Evan you can definitely bet I'll be taking a few flow fees. Okay everyone we're going to go ahead and take our first break of the podcast but when we come back Jack. We're GONNA be talking about some technology gadgets and tools and apps you can be using in the new year to better accomplish your goals wolf and your New Year's resolutions. We live in a digital age so it only makes sense that we would use some tech products to help us achieve our new year's resolutions solutions so stay tuned for that. You're listening to the G. S. M. C. Technology podcast brought to you by the MC podcast network. I'm your host Mackenzie Jake wish and I'll be right back. Do you work in the world of marketing and advertising. Are you a media media buyer or the owner of an agency. Have you been looking for a podcast to help. Stay on top of all the goings on of those worlds the MC Marketing News. PODCAST is dedicated to keeping you up to date on all things concerning marketing and advertising. Get the latest marketing news from what major businesses have planned for the coming year to the newest trends in advertising from podcast digital and streaming to the old standbys of Radio Television and billboards the GMC Marketing News. PODCAST has you you covered whether you're a marketing agent or business trying to expand your brand. Hello everyone podcast. I'm McKenzie And you're listening to the GS MC technology podcast brought brought to you by the GS MC podcast network before the break we were talking about what is new in the tech world. We talked about Apple. Releasing their newest speech called slow fees on the iphone eleven which is a slow motion selfie that enables their new camera to really capture everything that is going going on a photo but makes it but makes it look very cool very sleek and very stylish. We talked about Tech Legend John Chambers and his his new startup and how it will challenge Amazon's platform and we talked about spotify saying that they will not be using political ads in the next couple of years until they developed a technology until they have developed a technology that will better allow them to review those ads Ed's rather than just push them out without any review happening so now that we're back from our break we are going to be talking about. Some tech gadgets is an APP that will help you stay focused with your New Year's resolutions in twenty twenty. Obviously New Year's is a few days away and we are all all very excited to be starting out not only this new year but this new decade and this new decade is going to bring with it so much more technology. And we're I'M GONNA make so many new advances but a lot of us aren't actually involved in making those advances but we are involved in making advances in our own life. So why don't we use some of that attack to help us advance in our life. We'll be focusing on your health on your organization and on exercising. Is it quite a bit because although you just had to get up and exercise there's a lot of APPs that can help you encourage and motivate yourself to get up and an exercise because let's face it. Nobody wants to get up and exercise. So let's take a look at some of these tech gadgets. That might be able to help you achieve your New Year's resolutions so the first one we will be taking a look at. It's the charge hub go. Plus it is an all in one portable wireless fearless charger. The reason I am including a wireless charger on this is because a new year's resolution for myself is to be more organized and more efficient officiant. I often find myself. You know running to meetings or in the car and I get lost and my phone's dead or my laptops dead and I had to go to a meeting and I need something to take notes on. So having all in one portable wireless charger would definitely help me. Stay more organized and I can bet there's a lot of people out out there that could also use technology for good because let's face it. We all love our tech gadgets but we all hated how quick they Douai right now. I'm recording this. PODCAST and my laptop is unlike three percent battery and I am in a conference room that I do not have my charger in so I will definitely be buying the charge hub go plus because honestly it's just such a good idea. It's a slim gadget the charge up to four smartphones all at once with no court chaos so super great super-efficient and if you're someone who is disorganized and could use help charging in all of their gadgets then this is definitely something that you should also look into for the New Year. The Electric Muscle stimulator. This device. Vice stimulates your muscles to warm them up before your workout. So it's GonNa make you burn more calories having more effective workout because you're already going to be warmed up and ready to go. It does seem a little sketchy I won't why it basically uses electric shock to trigger. Your muscles contractions fractions which stimulates muscles and activates them in preparation for your workout. So it doesn't seem dangerous. Obviously they're not going to put anything about it being dangerous on the ad but I don't ask your doctor before using this tech product. I think it's a good idea idea because I'm definitely someone who enjoys like a good warm-up before the workout so if this is going to help me have a more effective workout then I am totally for it and definitely take a look at it if you're someone who is looking to be in better shape and is looking for tech gadget to help them with that the weight Guru Smart scale so I was hesitant about putting a scale on this list because for me I'm always thinking that the scale shouldn't impact your weight loss journey because it really is just a number on a screen rather than you know actually measuring any progress you've made however the way groups smart scale helps you track your weight. Body fat muscle mass water weight and bone mass. which are all things that are more than just a number? And they're all things that if you're working towards a fitness goal you should be tracking that where you're able to reflect act on the work you've already achieved it'll help you focus more on what you need to work on versus what you don't so what this scale I think it's more than just a number on a screen. It is helping you measure your progress. which is something that is so important when working towards a goal that way you are better able to track your progress as well? You are better able to stay motivated because you can look back on the APP itself because it is connected to an APP so you're able to look back on your progress and when you're trying to become a better version of yourself when you're trying to be healthier it is so important to be able to look back and see what you've already achieved achieved. The spending tracker talk about needing to track things. I think we could all use a spending tracker to better track back our money so the spending tracker is an APP that lets you input your monthly income and different categories of expenses. So you can track how much you're spending being on a daily a weekly and a monthly basis based on your rent your insurance your cell phone bill your Grocery Bell and then you can take a look got if you're spending carelessly or maybe you're were spending money on things you don't really need so maybe I can try to save money here versus versus over there. It's going to help you organize your finances for the following years and honestly it's just a very efficient APP for someone who was looking to handle their finances but their finances scared them a little bit. It connects right to your bank account. So that if you're having dinner and your credit card gets stolen then you're able to track it on the APP and see immediately. How much money was spent so all in all? This is a very sleek very nice looking APP. That would be super helpful for anyone who is looking to stay on top of their finances. Okay everyone and we're going to go ahead and take another break from the podcast but when we come back. We're GONNA be talking about a few more gadgets. That are going to help you. Stay focused on your goals roles in twenty twenty so stay tuned for that. If you have any questions comments or concerns about the technology that we've already talked about in this podcast had cast feel free to reach out through social media or write a review down below. We are available on Instagram facebook and twitter so definitely reach out out through there. We will be right back because you are listening to the G. S. M. C. Technology podcast brought to you by the MC podcast network work. I'm your host Mackenzie Jake and I will be right back. Tired of searching the vast jungle of podcasts is now listen close and here this out. There's a podcast network covers just about everything that you've been searching. The golden state media concepts podcast network is here nothing less than podcast lists with endless hours of podcast covered from news sports music fashion looking entertainment fantasy football and so much more. So stop looking around and go straight out to the golden state media concepts podcast podcast network guaranteed Ville. That podcast is whatever it may be visit. WWW dot Jesus MC podcast cast dot com. Follow us on facebook and twitter and download on itunes soundcloud and Google. Play uh-huh Hello Hello and welcome back to the G. S. M. C. Technology podcast brought to you by the GS MC podcast network before the break we were talking about tech products. You can be buying this year. That will help you stay focused on your goals. We talked about the charge hub. Go plus which is a all in one portable wireless charger the will allow you to charge up to four different smartphones. So that is a piece of technology that will help you. You stay organized versus the electric muscle stimulator and the week group smart scale. Those are going to help you stay on track with your health and fitness goals and we talked about the spending tracker which was going to help you stay on top of your finances in a more effective and efficient way rather than just spending money here and there and hoping that you're saving enough so there's definitely a lot of technology out there that is going to help you achieve achieve your goals and what we're trying to do. Today's episode is really narrow them down to specific goals and specific pieces of tech. That aren't going to help you in the new year the rocket buck so this is a notebook that combines the old pen paper process with the new age laptop and iphone so it is a little notebook that lets you write things down using like those ipad pens so that you can get that feeling up writing things down on a piece of paper but it's all going to be saved onto a tablet so this is something that is super cool. It is attached to an APP. The rocket book APP that allows you to save your notes and that way you're able to better assemble them. The pens have a feature that allows you to like arrays things in a way that you used to be able to your notebook so it's definitely a tech product for someone who is used to using notebook versus online. Who do I someone who misses using notebook but has to work in a situation where everything needs to be saved online? The next thing. We're going to be talking about. is an APP called self control so this is something that I definitely need. A lot of people definitely need. But it's the idea that when you go to do a task like you're going to go work out or you're going to go record your podcast not saying that I use this APP but perhaps to this APP APP allows you to stay focused on your actual goal and will prevent you from going onto social media. It will prevent you from getting distracted so it allows. How's users to block pretty much anything on the Internet? That can you can identify specific website. Services even mail servers to blacklist to prevent them from sending notifications over a certain period of time. So you're not gonNA be blacklisted from all of these APPs forever but so you can set it up to be like. Hey I don't WANNA see peace book notifications or I don't WanNa see if my best friend called me for one hour so you can set it up. Upped basically goes into like a shutdown mode. So that you don't have to look at it. I don't know I think it's a super cool APP that is going to allow you to be a better version of yourself and get more stuff done. There are obviously a lot of APPs out there. That would do a similar thing so if you have any recommendations on which APP at maybe I should try or someone else who listens to this podcast. Try comment them down below in the review or reach out through social media the last bit of technology we're going to talk about is the Phillips Advanced Digital Turbo Star Air Fryer. I get that. This isn't the most techy the thing in the world but I definitely wanted to put something on here. That is going to help you eat a little bit healthier because that is definitely a common new year's resolution for a lot of people people however I fully understand that this isn't the most techy EST thing in the world however it is also it is also tack. It is a super cool air fryer fire. That helps you fry food with seventy five percent less fat which let's face it. We all love fried food but we all understand. It is super bad for arrest so having something like this in our lives. What kind of help you know you get the tasty food but you don't need the fat little bit of both so oh definitely look into that if you're looking for a way to get your tasty fried food without all the fat okay? Everyone that what is it for. Today's podcast I'm your host Mackenzie Jake wish. And you've been listening to the G. S. MC technology podcast brought to you by the MC podcast calf. Network I really hope you enjoyed today's episode and stay tuned for future reviews of other tech products. You've been listening to the golden state media concepts technology. PODCAST part of the Golden State media concepts podcast network you can find this show and others like it at. WWW WW DOT MC podcast dot com download. Our podcast on itunes stitcher soundcloud and Google play just type in Jesus Mc to find all the shows from the golden state media concepts podcast network from movies to music from Sports Entertainment Entertainment and even Weird News. You can also follow us on twitter and on facebook. Thank you and we hope you have enjoyed today's program.

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AI for evil. AI for good.

CATALYST

26:23 min | 1 year ago

AI for evil. AI for good.

"The candidates for a are is really the race toward innovation leadership and it's also the race to basically have the most productive contrary and available economy. Hi Welcome to catalyst the podcast of temple. University's School of business. I'm your host Tiffany Sumner. And today we'll explore a concept that has created a lot of buzz around the world. Artificial intelligence is based on the principle that machines with the help of algorithms can mimic human intelligence. And we'll eventually develop superhuman capabilities to handle complex problems. I interviewed subject matter Expert Fraternity a team of the Department of Strategic Management. He was kind enough to share his knowledge around. The catalysts for return also shared his perspective on the sweeping changes in a I that often flies under the radar of those of us. Not deeply involved in cutting edge research to get started. It's important to understand with the top players are artificial intelligence. That's a great question and archery Japan to be in the top players. But they are not a this one. It's a due to many factors. Basically is a lot of potential but the implementation the social aspect of a are in terms of creative destruction. You're going to have jobs. Created jobs. Destroyed and Japan is based on Flu. Longtime if not lifelong employment by the culture is very group oriented not individualistic show. Maybe it's slowing them down in adopting AI. As much as I would have expected them to would we do see China? Which is more individualistic receiver? Us on Some leading economies and countries in Europe taking delete so basically. John is number one in terms of spending right again at the government level. And then basically you are the US and then you have countries such as The UK Germany and so forth and sees a China is the world leader in AI. That's correct and what are they doing differently to make them dominate this market? I think what they're doing is using what. I call a multi prong strategy. Dr Using all the angles again to the National Pride D- If we want to beat the most modern most respected country in the world we already blown records in terms of the growth of the economy. For thirty years we need to gain traction in ovation innovation and productivity right so when you look at The research of many of my colleagues basically what makes a country rich and China used to be a rich long ago also suffered through the last centuries and they don't want to get back into those social turmoil situations where people don't have enough to eat so the bottom line they are one point four billion people by the way so more than four times the size of the US The bottom line is that for them to be a rich country or to maintain the level of development they have to innovate to innovate. They have to collaborate so they have a lot at stake. Too PROVED PARTNERS. That number one. They're going to respect intellectual property rights more than they have in the past they will be leading the patent filings and they will basically Be respected US regular players the same way players Germany Canada UK. France would be respected right. So you WANNA earn that respect they WANNA show the world that can do it. And so they'll using the multi pronged strategy getting everybody fired up about it Running experiments with Casey for example. You know using facial recognition for people to play order make their payments and all kinds of restaurants there. Even it's a strange example. But I'M GONNA use it anyway distributing toilet paper in public restrooms bays on facial recognition. With right so yes that's terrifying. It means how hot logistically. How does that work? But it's now in some articles and told you was going to be a strange example so great except but in other words. They're showing the obligations on the usefulness. Right so the usefulness the improvements you can have in life the improvements in productivity and everything will come once the the growth has been basically across industries and across regions in India. So I think the using a lot of creativity to roll out their strategy. Which by the way as Las Year? It's an official strategy of the government of China to make the world's leading innovation center. So they're putting billions toward new centers on innovation outside of Beijing. There are getting that sense of national pride in the fighting those patents and they're getting a lot of respect as factor within a year. I showed that example. Would you do? Chen brothers developed super Incredible microchip that's the best way. I can describe it. I was in two thousand thirteen in terms of AI. And deep learning that replaced the power of sixteen thousand microprocessors from Google and their Research lab on deep learning and Basically you can only imagine what has happened. That years of fussed is going and how fuzz basically the world is developing a machine learning deep learning applications so that we do increase productivity but also increase safety safety driving imagined a trucking companies using a and not having as many casualties on on the highways We are using is Applications to do things that we don't want to do or don't act but so yeah I think that's A. That's a really really glad that you grounded this very quickly. Because when I think of a I typically think of people building robots and then them taking over the world right like so. It's just funny to sink. How are we actually using this and when you hear and read so much about a it's also hard not to imagine that it's a little bit hyperbolic it's a little bit hype versus reality. So you're giving some real world examples which I think are great and I'd love to hear more about what industries you think are embracing it well And and specifically how consumers are reacting to this. So I think you have to go case by CASE BUT IN TERMS OF INDUSTRIES. Adopting it You may call for example vanguard which is in our region and basically doing a password verification based on your recorded voice ride. So you co- Van Gordon. You say my voice is my password. I basically the log. Un or they don't you don't punch numbers anymore. You don't use your social of course anymore. They're using to do this. Basically direct to a live agent life person very quickly if you need it right. So they don't play those gimmicks anymore and people don't spend twenty minutes on the phone to get to to get the service that they they want. Juanita really quick Mcdonald's is doing the same thing they're going to actually just acquire a company focused on and they are going to use. Ai Around drive-thrus right so maybe they'll recognize you The same way apple does for some of their phones right. You look at your phone and same thing. The phone opens up or not. If I use my wife's phone it's not gonNa work because the digits for a path so that mean you can order McDonald's or KFC or whatever the case through your phone exactly that's the artificial intelligence correct or through facial recognition the FBI basically is a form of automation. So it's not too far off from the robots robots are now able to by the way. Perceive your feelings emotions. They're learning and they're learning almost with no direct supervision. Right which is scary right. Depends like if it's in relation to food. Okay with that but it will make your life easier because I could imagine on pulled in our Casey or a McDonalds. They'll recognize you. They'll say hi. Tiffany and happy voice with or not. You know This were happened before the the consistency of it happening is very rare. Actually right when you look at the data. There's only chick-fil-a was very consistent. Customer Service and they basically Go beyond expectations on being extremely Korea's And so forth to their customers a I predict producing that customer experience. That's positive where you get the right order for your fast food. You're on your way and maybe there's actually something nice being said even if it's an agent that somewhere in the cloud I think it will make a difference. You will simplify a lot of frustrations eliminate those frustrations file ice. And then basically. It's going to be also predictive right. So if you change the way you You order or if you don't come to the same fast food outlet in the same on the same days with the kids. Maybe they'll pick up on the back. All we did add mini wrap today and a salad or you know. They are going to make the connections that humans got tired of making because of the volume and also the low pay. Those jobs are not high paying jobs. So if we enhanced experience old customer service based companies industries will benefit productivity would be higher customer satisfaction will be higher and then the other candidates on the list so basically the ones that human error the think about human error in terms of driving ninety percent of your accident are caused by human error. If we could reduce that in half we would save millions of lives In the next twenty years the investment in a I is definitely very easy to mega the case the business case for that adoption but then also the human errors in terms of hospital treatment. You know the the right diagnosis by the surgeon has been working already. Sixty five hours a week looking at your x Rays and basically making a mistake. Because he's human or she is human. I would prevent that from happening. I would have to ask. What does this mean for jobs? I think we're going to see a lot of jobs. Being created. People will be analyzing data. That may have been computed by not official intelligent agent. And they'll see whether it makes sense or not whether or not we want to act on the data And the conclusion of right and then we'll see basically industry by industry if the cost benefit is there if the social adoption is there. It's clear that to me the lost Gem Strike which was a record strike in terms of the the union fighting for better benefits. And so what I do. Core also scared to death to not be needed anymore and they are basically transmission workers who not our jobs are going to be illuminated with electric vehicles right Humans are social animals. We want to contribute. We want to be needed. We want to be in groups even if we careful own destiny and individual weser. Us And China's discuss as opposed to Japan. But we do WANNA be needed and useful and so Is Frightening people. Because it's taking everything aware O- sudden okay so to rephrase short. You're saying people may do the jobs they have less but there will be different jobs for them to do correct which will require retraining. Yes because basically we're going up the value chain. If I use that analogy in terms of we won't if you look at. I think the purpose is to have humans doing jobs that are at the human brain level. We should really also make sure that people understand right now the AI brain capacity is equivalent of the brain of a Rut It's not sophisticated to say the least yet. It is moving fast and things are happening at the same time like never before in terms of Algorithm Techniques. Computer power indeed availability. That's why it's catching like wildfire. So if anything. The survey is to improve productivity people's life increase safety. It's a full good so it would lift up the majority of the routine base boring. And you note. So fulfilling jobs to a higher level of fulfillment and yes. There will be some retraining. Would you be exciting? And that's where Germany stern fears into strength. The are now pushing for to be adopted in manufacturing because they know that it is a strength of hugh embrace it. Well I think the fear obviously is lack of jobs or losing jobs but I think there's also the fear of the unknown so that's great that there is this democratic very moral and conscientious Attention to using AI for good but It does beg the question. What are the threats and are there? Is there a military threat involved in this And again it sounds like I'm reading. A Lotta Sci fi but I think that this sort of fear that people have when you start thinking about is not only will they be replaced but how can and will this technology be used against us? I think the risks are real and actually there was a survey by Deloitte consulting recently across seventy countries Close to two thousand senior executives and line managers were directly involved with AI across the seven countries and actually in in Europe especially feared that the risks are such that we could not address them if they materialize So only basically in the. Us and China people are extremely optimistic. But it's Bigger known associated with the risks military use terrorist use We already had a flavor of it but when Saudi Arabia lost fifty percent of its oil supply due to some new level. Cheap drones basically put some expletives between the two towers and Oil producing wells very strategic spot to put it basically ground the production of Saudi Arabia almost to a halt ride fifty percent less production. So we yes. Talk about an impact so this was amazing because it was a remote controlled weapons. Low-cost weapons the by the way to down the multi billion dollar investment in high-tech stuff basically Saudi Arabia I'd bought from the US to defend itself against those attacks. There was also a proof that yes they I and all those automation technologies remote technologies can be used for evil. Hopefully A it's an outlier. It's not gonNA happen very often but The risks are there and some people think that if they do materialize of some of them do. We can't address them. So it's like the the chain reaction Right the reactor still burning thirty plus years after some Yes yes It is scary. And it's It's hopefully not gonNA happen because that would be self self destructive right based on that same thing. We see a cultural difference between how people embrace again China. Us fairly optimistic Even more in China because the national push the excitement you know this is the the race we WANNA win to prove the world. We're really cool and innovative and so forth but it's also I think going back to the contrary you know. They don't expect much in terms of data privacy and if anything compared to Saudi Arabia which is super rich in oil China super rich data which is one of the key ingredients for a for them to win the race. Why because the government collects all the data all right so do facial recognition on your knee if we were Chinese citizens They would know exactly what we've been to if we have been good citizens but citizens as opposed to the US where industry companies collect all the data although we don't know if they sell them to the government or not that's right and The distinction is extremely important. So we make a very important. I think sometimes we also feel that we can protect some raw data. Maybe it's Miss I don't know what I think in China the majority of people I know don't even have that unrealistic expectation didn't know their day is not private for most of it and and the liquid so the attitude as well as efficiency Is is helping China be number one correct again? The of this resource that nobody had before which is data failed super rich and data. It's hard for me to believe the. Us doesn't have a huge data. Set though you know majority has out on this drug to share numbers right four times the size of the population so if you go with scary example or you know the government is watching your every move is the Chinese government has data collected on four times. More people about every move and there's no separation between private public life so to speak or private and public data. Yeah it's exponential right but you're right We're not data poor to Lisa. We have a real chance in that race. But I think we need the digital strategy in this country and I'm not the one Just advocating the one getting the former CEO Cisco John Chambers as made it very clear and the press conferences. We are the only developed country without a digital strategy. It would seem to me that our data set is probably fairly fragmented. I'm short is yes and do you see when are different. Intelligence agencies are trying to work together right we since nine eleven we have tried to regroup some of the government agencies to basically use those fragmented Input or data set whether it's for national security or any other topic you're exactly right to look at the Healthcare System. Same thing so many errors in it because we don't have basically one universal consistent system like other governments do. I'm not saying we should pay. We should not pay. That's another debate for another day but having a universal universal healthcare system with a repository on Patient data right that's protected Cancer Disease Related Information. All that can be used for research for better experience. We don't have that you're right story fragmented so let's talk about the USO. We've talked a lot about China. Tell me about artificial intelligence in the US so in the US we we love to join tergence especially on the west coast. I think there's a divide there too with you. between two different regions especially the manufacturing Heritage base of the. Us right is not necessary. Embracing I definitely has a silicone vice story. Google is reading the race. Microsoft is in is reading the race in terms of investments. But sadly if you look at the spending half of the budgets of Microsoft Amazon and Google so in other words I don't think we're going full throttle on it. We're just like you know we are third gear and then we're like. Oh yeah this is good this fun but I think we can go fourth fifth gear and push it further. I feel that There's not that sense of urgency right so I think we missing doubt At least that's my perception on the East Coast and having done some research on it. I do see some conferences gathering a lot of Interest. I'm not sure the adoption is there to be honest with you. People are still waiting strategy when you have big shifts big disruptions like this since I tutored. Ic The the results basically when you only put in your toes in the water you don't go anywhere. You don't learn how to swim right if we don't go full in all in on China on Germany. Uk France. Somebody is going to basically take the lead. We have to take the lead. We have to tell people were taken to the heat. Maybe we can work with China and take the lead and have two huge engines driving this process. I feel again. There's a lot of excitement But I'm starting to feel that it's lost in the debate. Nobody has this sense of urgency. At least I see it. Maybe I'm wrong But I do like the quotes from one of the leaders at Google were actually started the deep learning initiative and do any. He said You know. A is a new electricity so if it is a new electricity and what electricity Did to our industrial revolution in this country. A hundred years ago we should be talking about it. We should be Engaging in it Taking classes which by the way of free there's not to lose only time You can take classes from Cornell Stanford Mit through courts. Are you only pay? If you complete the clause and you WANNA certificate. Would you can learn how to use machine learning in everything you do and again? I look at my a direct environment whether it's research practice. I don't hear many people may be one of my colleagues write as an exception we sang. I'm taking a class. I'M GONNA use much to see if we can improve strategic decision making but I know he's months maybe years aware of getting traction. Because very lengthy process to learn how to program right bill does ABS- those interfaces and intestinal so More excitement would be great in the US right. Especially I guess at the government level. Exactly right I think we does the beauty of the US we have a very solid innovation ecosystem. We relied on private incentives ACTORS. And we don't rely on the government for innovation That's a great point that you're making but at this point I think because China is doing it. I think we should be doing it. And how would that work in the US? What what's the solve? So I think it could be again. Multi pronged strategy. I don't think that there's anything wrong imitating what's been working in other countries whether it's Germany looking at the strengths of AI. Not The fears right. Germany us taking people across the spectrum from the fear the anger and so forth all those phases you know when you have a big change happening with disruption the focusing on the strengths of AI. France. I think it's working empowering people to regular the I feel good and I'm sure they're going to measure a measure what people do with it and Supervise from a government standpoint Francis. Very good at keeping an eye on people typically and they will see if anybody is going a little crazy with it indoors expectations but then again. China doing a law to basically get everybody excited about it. The young generation the older generation and putting money where the mouth is which is typically also going to ignite more private investments. Right so I think we can copy and imitates You know what seems to be working overseas and then see. Where does maybe we can have another take on as well Very American take would be you know. Government state funding and then private funding maybe tax breaks on investments. And so forth. I would like to thank Bertrand for joining me today. And for sharing information about artificial intelligence people seem to have a peripheral view of a and that may mean they feel resistant to it. It's important to recognize that. Ai Can also create jobs. Help reduce human error increase productivity and improve lives and isn't that the point of innovation. Maybe a bigger question is is the world ready for such a symbiosis between humans and machines. I hope you'll join us next time until then. I'm tiffany sumner. And this is catalyst.

China US AI Germany China Tiffany Sumner Google Japan Saudi Arabia Europe France Cisco John Chambers Casey official Mcdonald UK Department of Strategic Manage Beijing
181. Praise to the Lort

Congratulations with Chris D'Elia

48:42 min | 3 months ago

181. Praise to the Lort

"This episode of congratulations is brought to you by vance. Global vance global is a thc and cbd cigarette company a tobacco and nicotine alternative vance global cigarettes are made with hemp paper and biodegradable wood. Fiber filters delta eight t h c is legal in almost every state. Okay so what are you doing. What are you doing get it. What has delta eighty eight cigarettes contain delta h. w. eight sorry hoops delta eight t h c. A psychoactive compound derived from hemp as as cbd a cannabis compound. These ingredients are then wrapped in papers with a black tip natural wood fiber filter according to vance global the highest much clearer and you feel a stable feeling. It ships discreetly everywhere. You must be eighteen plus to purchase go to the website vance hyphen global dot com vance hyphen global dot com and use code. Congrats for twenty. Percents off your order. This is episode one hundred. Eighty one of congratulations right. Dude all right. And i already made a mistake. Dude i fucking google. Every time i go to google a counter timer. And i don't click. Stop watch click timer. And i click timer and it goes fuck in. What is it a stopwatch or a fucking timer. Dude stop watch. Because i want to know how long i'm doing but i put timer timer counts down. Yes from five minutes Starts from five minutes. Dude which is great. We're not going to do a five minute podcast. We're not gonna do a five minute pee cash. We're going to do a fucking hour long peak asked if you're on patriot and if you're not then you're going to get the not the extended version and You know that's just how it's going to be so this day. Guess all die now or the or the chick that's like this with the blue shirt already fucking have ivan gets rid of already gave him some work to put that fucking picture in the upper corner. So that's how we do it man we fucking. We work hard. Wow dude my phone just clinked and it made a fucking ka ching sound so you know. I'm an asshole that so i put it on silent and we're and we're good. We're good to go and we're and So i put it on timer and it went down so i had to google. Stop watch. I never know what what the difference between timer or stop watches. It doesn't matter when i work out. I do it in intervals and my knee hurts because of that does many her. Es dude am i sweaty. Yes because it's getting warmer in california. Yes and i didn't adjust the heat the heat or the air the way i wanted to on the fucking bottom. Es says it too hot. Yes is a fine yet. It's fine but you know. I'm going to have a lot of fucking beads slowly. Cascading down my fucking moguls. My fucking back a ski slope dude. I i don't know why you're listening to this podcast. And i don't know why. I i don't know why i'm still doing it but i'm doing it anna fucking i. Thank you for listening but yeah i started in new workout plan. This guy in montreal is is has been fucking on my case. John chambers shout out to him. I like him a lot do it and i work out and i thought i was good at working out and guess what. I'm not do the second you get. Somebody helping you to work out. You just realize you're fucking doormat gara- just a piece of shit like you could move around weights all day by yourself and it isn't as hard as like a twenty five minute session from some guy that just like studies nutrition and also fucking weightlifting. And it's just i wanted. I wanted to die and i was gasping for air. I was gasping for fucking air. Like adam west when the penguin discuss man and fucking puts the gas on them the green gas. It's green in that fucking show dude in batman in the old show batman green dude so we all knew it was coming out of the umbrella. Just fucking the shows do when it's like like everyone's ringer is always on just so you know at home. They're getting a phone call when it's like we're not idiots. Nobody's ringer is ever on. I've never heard. I haven't heard ringer in like three years and this and when you do everyone is like oh. That's the asshole and everyone on every show is hold on. I'm getting a phone call. It's like dude. Come on get it together more real than that back to me allegheny off for no man but he booths ramsey amity Yes so it's just like all right okay. Tv show it just like okay tv. Show if that's what you're gonna do. I'll still watch it. I'm not going to stand for anything. I'll just keep watching show stupid shows are it takes show a long time for me to piss me off. I mean it'll it'll get me going. But then i'll just be like all right. I'll just keep watching. Fuck it like oh. This is me watching every show. Oh come on dude really all right. Well let's see what happens the next scene just for fucking eight seasons eight whole seasons. All right dude really. Well hold on no change. Let's just see what happens. The next the next scene. Yes so. I've been watching that undercover billionaire. Show which just by the way. I played it just because of what it's called. It's so hilarious that the shows are all like million dollar matchmaker millionaire. So i want to be a millionaire so i wanna fucking marry a millionaire. Are you a millionaire. Let's all be millionaires. Nine hundred shows with the fucking thing in it and then some jackass show just comes along and it's called undercover billionaire like some billionaire was like oh i just i don't fuck i'll just be on. Tv the guy's fucking to something billion dollars and he decides to go to erie pennsylvania. Don't go where everything's just brown and green and grey and there's so many fucking water tanks and shit dude. I got to be an author and just write about erie pennsylvania and just right. Yeah it was brown and gray and green a lot and and fucking. There were so many water tanks. All around. jimmy was walking down the street and he was called shit. Because it's always cold there. why is it called erie. Shouldn't be called iri because iri is a buck a negative connotation and they're wondering and everyone eerie wonders. Why it's down in the dumps. They're still trying to rebuild anyway. Jimmy was walking down the street. Worst book ever dude but ever so yes. We goes to era with a one hundred dollars no contacts and his phone and just shows up and ninety days ninety days. He's gonna fuck and make a million dollar company Guess if he's five five or not. He's five five duty so short and of course he is because no guy who six two or above is just gonna be like. I got something to prove. So it comes out and he sleeps his car. Do the guy with over two billion dollars that's too much. Did a two billion dollars at keep it all. And i die with it. I wouldn't tell anybody about it But so he so we so we watch and he's got like not five kids or something and kristen is next to me and it was soon as shows. She's like that's like really responsible for him to leave for ninety days and he's got like two young kids and i'm just like we watch it or not and so we watch it and he's five and he comes out and he's just like so. I left ovary rare to come here to pennsylvania with one hundred dollars no contacts and i change my last name so nobody knows who i am. Everything's this show now. Everything is a fucking show now. I'm not gonna bread for nine days tune in to tbs. Let's see if i can go. Let's see i can go nine hundred years without without walking. I'm just gonna crawl everywhere. I'm going to do an army crawl everywhere on the next episode of crawling fucking hurts on my torso on the learning giants. Always the learning channel. Hey what the fuck are we learning dude. Hey learning channel. What the fuck are we learning anymore. It's just like what's that one midget ville or whatever the fuck. It is tiny guys in tiny houses. It's like what are they doing. The learning channel. Fuck off. dude. What are what are you. What are we learning. The learning ninety day isn't that on fucking ninety day fiance's now on the learning channel. We learning what we learning. How big of a jackass not to be yes to these guys are just like troglodyte. It's or the female is a troglodyte and the guy or the females from the other country and he comes in and he's just like gaston and shit dressed up with one of those fucking coffee filter neck neck. Things that gaston wears. Hello i ll. Mary you other thought to live and you wanna live in america. No i love you. Oh turkey we have thank. You know i'm a virgin. And i'll be that way until i get my citizenship. But that's the thing. And i know what that feels like to when you just want it to work so fucking the the the hopefulness of it is just come on dude. It's like when you're when you watch that old. Press your luck show and just like no one is no one is no no is is so bitch how they always do it. No emmys the women the women women and an we got you hope for the no way and be so much but the fucking he comes every time and the whammy in this case is he doesn't love you because you're portland fuck and sixty. And he's twenty two. Yeah so ninety day. Fiance's don't don't be on that show but everyone just wants to be famous you know so. This guy's a billionaire and goes to erie pennsylvania and tries to and i didn't fuck dude and watched five episodes with my fiance with my six hundred day fiance and covert or anything else. And and dude watch five episodes. And i went to sleepy's and then i woke up and i went to go get a coffee and i came back. Five o'clock rolls around. She's like i finished our show. And i'm like how there's fucking twenty episodes and she's like i just watch seventeen and eighteen. Fuck it and i said well. How'd you you just skipped. and she. She literally said. I don't know as we know. No did you wash them or not. Because i don't know. I just ended. And i'm like she's not gonna fucking even i don't even so now we got to watch a new fucking show dude. Uh uh when you're when your fiance watches the end of a show that you just fucking spent five hours on guests all die. Now i do it while anyway. So yes so. We watched fucking undercover billionaire. Dude wow i wish there was a show called fucking undercover trillionaire and it was a guy who is worth a trillion dollars and he just came in and he floated in with on a jet. Pack or on those fucking water. Things that don't work were you. Where did you go in the water and they squirt yup like nine feet for two seconds and then you fall on your neck and hurt yourself to those those talk about so bad jr those water where you do in the ocean or the lake where you hook on your feet first of all. Those are way too big. That's the whole thing where it's like a don't invent it until it's better to know what i'm talking about like don't invent the fucking thing tillage better. I feel that way about the internet half the time. I'm like if it doesn't work. Don't have it if i'm gonna fucking coffee shop and i'm like you guys have wifi. And they're always like yeah but it's not stop. Do you have it or not does it. Work don't have it if it works have it do you. Don't talk about yeah. It's every coffee. Shop i go. Do you have wifi yet. But you have to thing. Oh you know what stop dude stop you have to sign into the portal and the then you need it here. Let me write it down. What are you have fucking things that you give out yet to write it to here. It's a weird here. It's a weird password. And it's case sensitive for fuck sake did on just using g network or whatever the hell. It's called forty one. I'm just using g network says a rap group in two thousand and one. Oh man me and my friend used to do the song. That's the only song you can't fuck and Don't tempt them. I don't dump or the fucking g unit one. The what was the one prone deleon. Don't don't prong can't even fuck in helmet. My uncle once said that wraps the only music you can't Think about it. Every six months Anyway dude it is what it is. Calvin doing this thing where we we drink will go. Like come on kevin's my son for those that don't know but We'll go like come on Drink you drink. we'll do that pepsi commercial. And so he does it now. He he just goes. He'll drink it and then he'll like you know every sipa like a toddler takes his just like kay. I think i remember this. I think i remember how it goes down but let me just make sure that everything's cool miser water in a little bit. I'll good k. Then i'll do it. It's so funny it'll he'll just like he'll have to reboot hip. He'll drink. he'll drink. And then i'll just act like someone's spraying his face with a water for a little bit. He's just like it's like you don't have to forcibly do you. Can it's supposed to be refreshing kid. And so he does it but now he just thinks it means drink and so anytime. I'm drinking anything. You'll just point to it no goal whether it's a bottle or cup or a jug or whatever the fuck it is and i'm just i'll be like coffee. Like cold brew or his mom will be drinking my fiance. It'll be drinking a vulcan. What is it a margarita. And we're just like no. This is for daddy daddy. Go and i'm just like it's coffee. You're going to be up all night or it's like lacroix and i know the bubbles. He can't even barely he when he drinks water. Looks like it's going to pop out of his head and so i'm like all right fine today. I was just like okay here. Here's lacroix and gave it to him and he just goes birth. And i'm like you're gonna you're gonna make it through this or what needs is and then at the end. He just looked at me after only goes dude. It's so fucking funny and fun to advocate like. He just is hilarious. Kids are hilarious. You know god. He's so funny love motherfucker. I got to get him to fucking start working out soon. Man the worst thing the thing that he the one of the most annoying things about a baby is a retarder is they don't like i don't know if they don't remember or they just don't give a fuck which i like if they don't give a fuck but when you like when you're wiping their face they act like they actually trying to like s- suffocate them. You know they act like they're trying to like and you're just like you got your one thing here and there and it's like dude you do you remember that this just takes fuck and four seconds dude if you just relax sit. The fuck tight. You got milk all over you from you. Got milk all over your face. All it takes a little dab or two. And if i miss it i come back dab another and they're just like not and you and it just taking a look. Do you remember from lunch. I literally left the fuck pesto on ravioli on your chin because it's so annoying. No no no. He's just and you're like all right then have a messy face dude. And then if you i post your mesa grant story or somebody sees you than people. Just think that we're a dirty family great. We're a dirty family. Now fuck it where it dirty family duty bought something on the apple tv today. Like legit. I know people like joking. Lie about that to make it funny but straight up. Kelly grabbed the apple remote which is the worst remote on the fucking planet. Who's the size of a stamp. Like dude that's one of those things that i don't need to be so small. It's a remote control. we lose it anyway. Remember the universal remotes when it was like. What do you want to watch. You wanna watch mr belvedere great. Let me play it. Remember the universal remotes when the fucking shit was when the each was a big as your hand. Those were so big. That's that's one of those things i said don't invent until it works those universal remote dabble remotes to be bigger anyway. Might my kids got it. And he's crawling all over creation now. Don't even know where the fuck and he's got it. And i see the apple tv. Just blueprint imprint. Boom problem shown it goes to that page where all of the different applications are open. And i'm just like. Is it computer now kid. Home computer broad joe shit kid on a computer fucking love that shit on bombs world. Anyway he he he fucking gra- does it and i'm just like you know what dude i'm just gonna let you have the remote. What are you gonna do break it. And then you just goes blink blink and then it just signs it just plays a thing and i'm like i have apple tv. It's fine and then. I'm going number two and i check my emails because the only time i check my emails and i look and it's like thanks for your purchase of the fucking apple tv. I'm like fucking bought it. I thought it happened. Tv only have apple tv on the other on the other. Fucking cac count or some. I don't know how many accounts. I don't understand really what happened. But i do know that he bought something. And here's the fucking kicker dude. I because he he just played it. I started watching it. And i'm just like is kind of good nominal fucking thing. I've got to buy the whole thing. This kid works for apple tv. He's got his dirty face. Just boom between brain plan. Some shit with that girl from the jumanji the new jumanji. She's such a at actress. That would have a show on apple. Tv it's unbelievable. The one with the she's jumanji and also she plays somebody in one of the x. Men shows or something forty one dude. I was on my discord chat earlier and someone was like. I'm going to i'm going to would they say what's your favorite star wars and i was just like yeah fuck in anyway wiping. The baby's mouth takes so fucking long but we love him so much. I said it a little bit the other day. I forgot to finish talking about the last pockets but we love him so much. He's going to have a complex. We're just like we love we. I don't know like we tell him. We love him so much that he's just like okay play with i'm gonna play and i feel like this kid is just gonna grow up and you know how i walk in rooms and i just assume everyone hates me. He's going to have the opposite he's can walk in the room and just be like where my presence where where are my presence. Why are you not on your knees for me and playing with me. Why are you not on your knees doing things for me so yeah i don't know man we love. I love being a dad. Dude being a dad. Fuck and rip. Stewed be ended. That fucking reps renner took me out so yeah so i you know what i haven't done for a while. Man is looked at youtube videos. And i don't a lot of you guys are hitting me up on my patriot telling me patriot. Dot com slash. Christly i gotta watch youtube videos. So i'm gonna fuck and watch some youtube videos and some of these are fucking sent from you guys but also other that i like a lot. Now here's the thing. I fucking clicked out of it. Oh fuck yeah dude. I clicked out. Oh yes dude. It's it's gone dude. Before i sat down. I got four book. And things put him on four different pages. And i've clicked out of it. Click it 'cause i fucked in the stop watch thing was on it at the time was on it and i kicked out of the whole thing and now the that's up it's a watch and that doesn't even better dude i had four pages clicked on and i don't have anyone. Yes man dude you know what. Fuck it dude. God how do. I have a fucking show that people listen to. I don't know. But anyway the idea i could pull it up because this one was so good me. Man youtube. Let's go to youtube. How many you got good youtube lately. That was the doorman and my brothers building. Got any gutting good youtube slightly a now like it's candy. What is it not gay. No more this fucking thing man. I can't remember how i saw. Somebody sent it to me. Somebody sent it to me. Do you believe okay. Laura tonight first of all black preacher any said lord said lert. Do you believe the lord. There's a d you don't give a fuck. Why would he Is bridge preaches. Don't give a fuck. You know what i'm talking about. They do everything for the lord and have a jet these these television and just i give money to homeless in their jet. This is this is from silly. Funny videos k. You know try harder silly funny videos. Try harder with the account name anyway. Young gay man is delivered from homosexuality. Party dances so far in party. Dancing dancing is fine anyway. Do you guys party dancing. Or what tonight you guys part of dancing tonight or you just So this shit. Do you believe that the lord tonight has set you free okay. Do you believe that the lord tonight is has set you free and then guy just goes without hesitation which is what i fucking love about this shit. He just says yes sir. Do there is no second guessing and that is because the preacher knows how to talk and no says shit. This preacher is the mental est. This preacher tells you out feel and the dude is just like yes sir i. I don't have a mind no more. So i ain't got on my no more so shoot from the hip so he just goes. Do you believe the law has set. You've an on the back end of him talking. A yes. sir nodded so hard. his head almost lopped off. Now we continue to tell those now turnaround and tell those people and this is the best because the guy goes to grab the microphone and then the preacher has something else to say and the guy goes to grab the microphone. And mrs this bitch and oh wow. He grabs america for phone. The first thing he does is so good. He's spanish teacher. That was named mr tak- may and he would he would breath so much. It was unbelievable. It was like dude. How many fucking lungs you have. He would just be like hello mature chose who got baseball more. Oh do this is the best right here. Well let's start it over. You really got to ramp it up when you ramp it up. There's a big payoff dude. Kim. also so not specific dude turnaround until those people tell them and the guy just grabs a microphone literally could have said anything. I am sand. So i'm not gay. No more oh gay no more. I am wow dude. He just the enthusiasm he goes. I gain no more. I am delivered. And he says delivered the lord delivered him. Wow that is just. I'm not gay. No more i learnt. Wow he felt it dude. I love when people feel lies. I love when a guy gets fired and says oh best thing happened to me. Just start a new life. Deliver art is rolled back in his head when he said. I'm not gay. No more cool. Let's keep going. Oh screaming it dude. Or i am my god dude. I don't like man's no more lost credibility when you made men even more plural man's no more. It looked like he felt himself so hard that he i'm shocked. You didn't do this afterwards. This guy wants to believe it so badly. That is yelling. It's so hard go more. Wow i didn't say it didn't say it. And then he says uh subtle like women and as he saying it he turns around and faces the back allying. Hey you turned around and faced the back here lying. hello sir. Why did you pull me over do you not know. Why do you know how fast you were going. I have no idea. Why did you turn around online. I mean dude. He turned around. That's the best. Guess if he's wearing a bow tie or not. Oh you guessed right. Guess if he's got a paisley blazer on you guessed right ovau dude. I did not know he did that. I don't think i watched this whole thing. I actually don't even know if possessor possessed possess underwater women women women women movies put his face in teddy's so anyway motor-boating screaming screaming so loud has a microphone. The guys on stage with him are just like we thought we thought this was a We thought he was paralyzed and we were going to help him. Stand not telling himself with tear apart telling himself dom self law all web saw so not sure what he is going to say dude also went way further into it like talking about how he's not gay and then immediately we got a hint that he also dresses like a woman. You know i will not carry. A purse will not put on makeup. Okay that's fine dude. That's all good. And then he says. I will love a women like he's one of those fucking. Saudi arabian guys that comment on on instagram girls. Pictures picture of bob's please All women while so not sure what he's gonna say god with him. Believe god it's fucking it's funny but it's also like here's the thing i think. Two years ago. I would adjust thought. This was funny but just because like i'm i'm really trying to like understand myself like everybody's got their shit you know everybody's got their shit that they're that they're that they're trying to fuck and work through and it just. It just is sad that this guy thinks that he. It's sad to me this video. Because i it dude. If he's gay fucking began. Let's just chill man. You don't have to like a women you know you don't have to have the fucking lord delivered you just fucking be gay. Be so gay dude put on makeup. We're a purse rock that motherfucker. Let's see the comments. Someone writes i said. I like women's women's women's women's blah blah blah blah blah blah blah. Wow i mean dude. It's just well. I hope that that dude is just out there. Living with a guy in love and it There's another video this was sent by guy on my patriot. That calls himself bags. Dentists said doesn't get the jargon but Anyway well if you find yourself stuck trying to move around on the ice. Many people say you should kind of walk like a penguin dude. I just what anyone watches fucking well. Now we'll watch it this guy do the whitest guy of all time hard yourself bark and bark or not but it's ten news reporter culture and of teaching you how to walk on ice way to keep yourself from new dude. What about how. Everyone's dying news. You really short on news. Everyone's dying everyone's getting beat up no matter what race you are. You're getting beat up. No matter what where you are in the world so many of your friends died and these guys are like walking on. Ice is actually something that we can tell you about tonight and they say to walk like a penguin. Okay just gonna come down to the walking on an icy surface like a sidewalk party dude. I'll fucking dude. There's always introduces it. And then there's a guy with the voiceover that has to be higher than the guy you know what i'm talking about. They say what you're walking is to walk like a peg wedded. That's what is held it but we're a check in with johnny johnson. And we're going to know what's going on here and then it cuts to a guy in the field and the voice overs like walking little use safely. It's actually literally what happened here. You're just going to on into work and come down to this walking on an icy surface sidewalk or par. Like what is this guy talking like this for. Just fucking when i want to do the news and i just want to be like yeah. It's gonna fucking rain over here and a guy got beat up in huntington beach but he fucking kind of deserved it. Hey i'm here i'm christy. I'm live at huntington beach. Where a guy got fucking kicked in. He was at a pizza place and he just kind of fucking. I'll know man. This guy came through what happened. Yeah he came in my my my pizza place and basically he was. He was acting all jittery. I thought he was on drugs. And i had to kick them out and he tried to fight me and i punch him in the face. I have it what else back to you or whatever. I don't like the whole thing. you think. Do this shit that were pouring money into. There's a fucking mechanism it cuts to those you listening this. It cuts to a whole device. That's like one of those. It looks like monkey bars. And then a tether coming down from it. And then a guy's got a vest attached to the tether and then there's like a plank of ice under it and he's hooked into the fucking mechanism and he's trying to walk on. Dude this is like millions of dollars. If you fall on ice get up. You don't who's learn who watched this. Whose life did this save. Put the money in fucking cancer. Everyone's getting that and some guys just walking on ice like a like a like a bitch strapped in under his legs. He's all punched up. Shit so what are you going to do is feel biodynamic slip simulator baio. What the fuck. Biodynamic slip simulator. Biodynamic what does this call. Just fucking waste of money. Industrial biodynamic slip simulator pre industrial biodynamic slip simulator. Hey if you fall on ice you fucked up okay. That's it dude. My uncle fell on ice his head. So bad. got a concussion. That's on him man. that's on him. He hurt his back for fucking three weeks. That's on him. And if i fell on ice that's on me. You think i would fuck be like i wish i saw this fucking thing on w. s. l. s. Ten news evening news. So i would know how to walker also. It's uneven. i is not even and this shit is like a sheet of like it's like dude. What are we the fucking kings or whatever. Is that even a fucking hockey team anymore. What are we the hurricanes. Probably as a team. What do we the fucking oilers fucking sports teams dude. The browns team you know what. Try harder football. I know. I know. I know i'm joking ok. Walking normally this look at this mechanism looks like the when when like tv with when movies. That don't have enough budget like show someone hanging themselves like all the whole backpack is on and you're like you ever see the movie where the guy hangs himself in the you know. The budget was bad. Because the guy you hang yourself it's like that you know but the fucking low budget movies he's got like and he's just like and like is got the pack on took me out of it. His shoulders are touching his ears. That wouldn't happen struggle to keep my balance and made the mistake of using my arms to this the problem with that as we get stiff so as you start to slip we start to this kind of motion and that really enhances that slip and studying people. Slipping bio dynamics president. John hager says marching with short flat steps is the best technique marching with flat. Steps is the best technique. Dude i just let me fall. Imagine just like a hold on. It looks slippery like one of those monkeys with the symbols. The wind up. Hold on dude. They say takes a date. Hey let me just. I'm gonna you know what to do right sweetheart latte. i know. it's our first date. But i might as well tell you this icy we got to walk like this completely dry. Yeah dude just fall. I don't wanna see shit like this. It's called best technique to use when walking on ice not to technique. You know just that has like badminton. There is a guy on. Oh by the way salt bay. You're done dude. Thanks you're done. Sky made fucking eight billion dollars off a doing this more power to him do it. I'm in love with him actually. Hey is he in costume or is that his face. Also you know his fucking you know. He's five four and that's it. That's all i have to say about that. And why is he dressed. Like a fucking johnny depp's character in one thousand nine hundred for always and that is the truth and do the new shit that he does on the thing. He just goes. Wow dude to just salt near elbow man. Yes so. I got a guy who did the I found a guy. And i've been. I've been waiting to talk about this guy. It was sent to me by my buddy cannon king and he is on he had some followers when i first found out about him. When cannon showed me. But i found. He's been gaining popularity. Now and i'm like i got a fucking do. The podcast is wanna talk about him. This guy is my favorite person dude. His name is white claw. gabe now. Let's bring this guy up instagram on instagram. I know he's i think he's bigger on tiktok. This guy dude. What was the first one. I saw his. I'm just gonna play a random one. It's so great. What this guy's doing here. We go fucking friday. Gong farm my daily walk and shit man. Fuck last night was a blast. I feel fucking fucking tired right now. Always i'm going fucking daily. Walk get up lazy bums. Take your fucking walk. Friday the weekend baby. Fuck it's nothing like friday. Friday and saturday and sunday who the serbs friday saturday and sunday me. Fuck for friday. Feels like sarah for me. Turns doing my like. Hey dude figure out what you're gonna say. I eight fucking fridays. So many fox dude. This is great. Anything you click on his amazing watch. Here's random one saturday as studio and bolland baby. Wow first of all dude. The first one. It's friday fuck and then this this one which is seven videos after he says a. It's saturday baby. Fuck dude so many videos okay up. Yeah i gotta bought the studio. Yeah i gotta make some fuck money at the studio ballin baby. Yeah fuck for for fight night so unsure what say for the fight nights stakes. Fuck get the studio and fucking bomb. What's up motherfucker bitches. Fuck to the studio saturday. I mean to cut himself off. Fuck go going to have sticks tonight fuck always thinking. Everything's a problem always realize always remembering something This one's good here. This one's good god. Damnit fuck what the fuck man. Fuck it's fucking said nothing so far. Wow said absolutely nothing so far. It's been monday. Go fuck yourself there. We go bill get up to work or to school. Fuck fuck in monday. Hate hate it man. Fuck shit man. Fucking monday this god. Oh my god. I could watch all day. I don't give a fuck. Here's the thing man. Some people are like okay. It's funny whatever like move on. Do not want to watch this guy all day. You don't get it you don't get it. I wanna hang out with this guy. This guy's manute jackson human. I wanna hang out with this guy and chill with a man the guys into it baby. Happy monday baby. fuck monday. Fuck yourself if you gotta go to work or go still money. Go fuck yourself. I just done going to the bathroom. Fuck and i'm going to show you something baby. Fuck fuck hey monday go fuck yourself some the toilet baby. Hey monday. amazing payoff toilet. What an amazing payoff. Hey i'm gonna show you something. Fuck fuck hey monday here. I'm going to show you fuck. Fuck i'm going to show you something baby and then just takes toilet. Paper puts it in the toilet and flushes. Yeah monday fuck you. Such a good payoff dude. That was better honestly than the fucking avengers movie when he goes and everyone faded away. That shit's better. He's the he's the avenger. White claw gave the avenger disguise. A riot you gotta follow this motherfucker. Dude he's sixteen thousand followers. He had like nine thousand. I saw always on cameo dude. I'm going to get a cameo one hundred percent no doubt anyway. Anyway that's it. That's it i'm done Hey you guys sign up from a patriarch. Patriot dot com slash. Krista leah There's to check it all out. That's how you support the show. There's also some fucking merch out. We got that summertime merch. And i'm rip roaring do it worthy the life ripped shirt in the life rips hoodie. And i'm walking out styling. I love making my own clothes and wearing them. Shits man You guys are great. Thanks very much And dude if you support the show thank you. It truly means a lot levy guys by your side uh.

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S4E7: Company Character - The Foundation for Building Resilience and Agility in Times of Constant Change ft. Frank Calderoni

No Ego

35:26 min | Last month

S4E7: Company Character - The Foundation for Building Resilience and Agility in Times of Constant Change ft. Frank Calderoni

"This is the no ego podcasts where we did the drama and entitlement and transform your world place wakeman. Welcome one two season for the no ego. podcasts. I am so excited reaching out to many of the people i respect and admire and we are talking about the future of work and how we can make sure that we emerge from this past year evolved and grown not traumatized. So we're going to be reaching out to some of my favorite experts and asking them what they think. The key is going to be as we curate. A whole different end hopefully more involved workplace in today super excited about the guests. Get to bring to you. You know as a consultant and out working with many of you in your organizations. I'm often asked like site who lives rally based leadership. Who if you had to make a list of top ten leaders who are the leaders on that list. They want living breathing. Examples of leaders in companies. That have really made reality base leadership of partner. Dna a way of life and my guest. Frank calderoni is always top of that list. He is one of my most admired leaders. We got to work together. Cisco red hat an anna plan and when most excited about is franks come out with his own book called up standing. And it's all about company character which i think is going to be a big piece. That leaders need to master going forward. So frank kelly. Welcome to the no eagle podcast. Thank you. it's great to be part of your podcast. it's great thank. You is fantastic. They have you back. You were one of my first guests. Gosh i think season one way back when five six years ago when podcasting was like a a new thing and you graciously endorsed my book. And and you've been using reality based leadership now for quite a while in all of your workplaces as you take on a more senior leadership roles. What's your favorite part abalta reality based leadership. Why are you such a a fan and a connoisseur society as you said. It's them with three great companies cisco red hat and anna plan and all three. I've been able to leverage. We leashes Leadership and working with you. So it's been an honor underprivileged and i've continued to learn and develop over those number of years. You know to two things that i would say that Really stick out from me. I is drama. The drama in the workforce and had to deal with drama in the workforce and. I think that was the first thing that you helped me with that. We helped the organization to diffuse some of that drama. And that's carried that now for so many years And i myself practiced at trading courage others as well and then the other thing which is the the whole thing about ego right Had how do you manage your ego. Everybody has a nego and managing it as interact with others is critical for most other so those are two important areas that i will always continue to focus on going forward perfect and i love that. You have taken it from being a concept turn idea or a program and put it as part of your own leadership way through the world that it isn't just about rv l. but you have really taken in develop that as one component of really greater philosophy end. That's so important for leaders to not have training and development program or something we pledged to but that really is a leadership philosophy in the organization. And i know that yours has been centered on this concept of company character for quite some time in your new book. Called upstanding is such a great Handbook on how to pay attention to and develop corporate culture company culture. So i wanna start out with just help us understand why you believe that company character not culture. I mistakenly said that company character is a a key driver of growth in in a competitive advantage in the marketplace. Like why do you weigh Are you making such a bold assertion. That character equals growth and competitive advantage side. Really good points. And i have to start by saying Culture is has been important for me so many years but a character lead. Culture is one that i think really ignites passion and allows to build trust with employees It aligns the behavior of everyone that part of the organization with the goals and really makes them do their best work and so it becomes not just a job. Which which i think is important for all of us especially today and what you get from that is higher quality increased innovation a faster execution as well as you know hire employees. You know enthusiasm for what they're doing and why they're doing it and i think that were expelled. Wealth of the individual and also works well for the nation allows the organization to really excel in delivering on. Its its. it's results right. The other the other thing that i just put in there. It also relates to customers because a character lead culture carries over to customers because they're looking for quality looking for innovation. they're looking for Execution and that positive experience they have with your employees allows them then to develop trust and loyalty with anna plan as an example where the company and theft company has to continue to engage with their customers over an extended period of time. So they can pull out at any point and if you don't have that trust and respect in the loyalty you can lose those customers. When i think that's such a good point because moving into a sass offerings forces us to add value. That's relevant today in far into the future. You're not just locking people into having a tight themselves your organization in. I think you are offering a solution. I want to highlight. Because this character and company character solves a problem for people in hr and marketing. The i'm not sure you realize there are times. We talk about the brand and the company reputation and the brands to potential employees and the culture in in those seem all really separate in what i think. Your concepts of character does is it takes all of those different expressions in alliance them and it says no the reason that it helps with trust and it helps with sticking us. Is that what people see in our brands. What people know and experience from us as a reputation can be trusted because the behaviors will see inside. This organization are alliance. They mary up to that. There's integrity between what promise and the behavior is the essential behaviors that drive a syphilis promises on the inside so with eyesight you do in your book with character. Is you connected the stuff we're trying to do on the inside the promises we make on the outside and you say here's how to deliver on those promises am i. Am i far off. If i had the summarize your on Late yes because it's it's about the experience right experience of your employees experience of your customers and that comes from everything you just said absolute land and i think that You were asking people to enter relationship with us. We're also asking them to have faith in us. it's not just trust. There's like a fate for the future. One of my favorite authors said that a falling in love is basically faith. Try triumphing over like knowledge of one another it's like it's bigger than Than just what we know of each other. There's a there's a sense of as you talk about company character in character lead culture in why people need it. I know that you talked about what it leads to like innovation in those types of things but when we think about conversations we have all the time on values in purpose and can you get a little bit more specific about what exactly a character like culture is and again white companies. Really need to focus on this right now society. It's it's you know again. A character let culture is one where decisions that are made with. An organization are really guided by the the stated values in the purpose. And that that's important. It shows the alignment but also shows. Why are people part of the organization. I describe an upstanding that organization character as a as a culture is a foundation that really allows you to set those values of those principles to promote how people are engaging with each other how they're getting rewarded for the experience that they have in that allows them again to do their best for bring their best cells to the organization and through that they feel respected. They feel included. They can be authentic. And then that's how that's where the trust comes with the employees. And then that trust that they have you know gives them the freedom to make the decisions that are aligned with what the company views as as really the right success and that's where it kind of ties back into the overall performance of the organization of the company and it makes the company more adaptive more nimble and be able to kinda deal with change and then grow and prosper in when people look really based leadership. One of the things. I talk about it. As if people are really clear on the higher level stuff the goals and yes the values values can be aspirational but the essential behaviors. We can order to drive those values. Then you don't need a ton of procedures in micromanaging and Processes are always good but it does free people up. if i'm clear on living our values out loud looks like in my behavior. And i'm clear on our goals and i'm clear on the brands and reputation we want. Then i really can add my signature to how to work with customers how to get our work done in so much worth like. We don't have to micromanage when people are clear on our aspirations and behaviors. They really are free that just do their best work. Yes and you know so. I just jump in that. That's where again going back to reality is leadership And you though you talked about here having those values having those values that are created. We did this in three organizations. That i've been part of the values created by the people themselves and then let those values turned into. What are the behaviors. Debt start to showcase those values and then how does that dan a back to what is The organization as purpose in what. They're trying to accomplish right so it. It becomes a strong foundation to the best work and then they get fulfilled. And that's what it's all about this time today. It's probably even more important. Because people have choices. I think we're seeing even coming out of the pandemic so many know so many employers are looking for talented individuals and they they get a chance to pick and choose where they want to work and that is going to be important. Culture character lead culture the organization what it stands for is going to be what they more so even than the pay. It's going to be more so important for them on how they make their choices in was key. Is i think we made the mistake in the war on talent where we went into you know. How can we as a company create these values that we promised to employ ease. But what you do. That's really fantastic. Is you say no. We're sharing accountability employees. What type of workplace do you want. What our values and you don't just love them up but you call them up. A lot of people think employees will be fulfilled if their loved up so the speak. But you really combine that with if these are values in too. Many organizations values are aspirational. Like if we're ever perfect one day we'll get there and it really says now this is what you want. And what are you willing to do to co create. That and most people think happiness is having good circumstances but wellbeing having this engagement is fueled by accountability. And i love how you connect in accountability to a character in characteristic culture and corporate character in. I've known you for a long time. Accountability was a big deal for you. Ten years back just wondering you had roles were cfo at cisco and red hat Before that one of the original blue suit red tie white shirt. Ibm irs from the the the original. Ibm our group in. So how did those experiences inform what you wanted to build when you came in. A ceo of the plan is easy. I received a. I built this company. But you've found yourself. Ceo how did those past experiences shape what you wanted to do at anna plan so the i think we all are you know. We are who we are based on the experiences that we've had I've been fortunate in. I can't say that You know. I've had my great opportunities but also have challenges but i've been fortunate to work for some great organizations over the years in having worked in those great organizations For things that worked out well and also for challenges has developed what. I've been able to bring an plan you know. Ibm over one hundred year history. That company has it's helped Really be humbled and persevere for that period of time having a high commitment to its customers but the culture and i remember this Over the many years. I worked there over. Twenty years is really built on a foundation of respect and inclusion for employees and and that really resonated with me over those number of years. And i think with. Ibm it's been. It's been lies to the communication to the leadership development through the recognition programs. And that's all values that i've kept in and continued on in my career. You know assist at cisco when i was a cfo. I got a firsthand role working with a ceo. An executive team that really took company culture. Seriously you know. John chambers along with many of my peers back then were stewards and cheerleaders and most importantly role models for cisco's culture. Right so i saw from the top. How important that was in order to have permeate down through the organization so that people had an ownership and took it seriously and then at red hat a red hats. An open source product developed organization company with the product but it's built on a community of users not only within the company outside and i saw how the transparency and really raw feedback generates passionate loyalty among employees in that open culture. And how that you know. Take life positive life on its own. So altogether bringing those experiences from what i've learned into anna plan. I've kind of highlighted some of those throughout upstanding the book but also i try to live them With my team era and applying. I love my. You've taken the best from three. Really great companies. I think as leaders we need to be open to not only have an impact in the world but being impacted by our experiences in the world. Ibm definitely Respect and inclusion. I just saw in interview with a nickel. They're talking about how they're being even more inclusive regardless of how you learned coding and how you learned or got interested in their fields and they're doing some amazing things and living those values executive team cisco did great at that especially at red hat to learn that open. Discourse can be healthy if we are stepping up to be inclusive and respectful. when and. it's it's fun watching you what you've taken the company at When you first joined anna plan and the growth that you have been able to partner with all of your ten associates in in garnering with this is really a winning formula. Because i think that it's been like a hundred and twelve percent growth or something. I say as a grateful stockholder since you all went public in two thousand eighteen. I mean that is tremendous growth in a tech industry in a service industry. So what can other companies learn. Everybody's like okay. So let me rephrase that. Many companies think frank that if i focus on culture and i focus on character and i really focus on open disc that will slow us down in our growth. And you're saying those aren't mutually exclusive. That is the way to grow. So what can other companies learn about how you have really been able to drive this growth. You know what i've learned over. The years is markets products. They're always going to change As part of a company organization but the cultures. What's gonna endure so. It's your company's secret sauce. So my advice is really spend the time getting it right. Stay committed to those values in good times as well as in challenging times. I think you know we learn in challenging times especially the importance of some of these values they help. Reinforce what you do in help lead you to persevere and do the right thing and during challenging times it helps you reinforce those values because you can see. It actually worked so. I believe that you need to make it work you need. Someone really dedicated full-time to help shepherd that culture throughout the organization. Not that it's that person's responsibility they don't own it but they just make sure that the programs are continuing across. They're getting the right feedback. And again as i said before it. It's aligning those values With back with the with the company purpose and the overall mission that you trying to accomplish and you know you mentioned just a few minutes ago living values would we kinda coin. Nanna plan like anna plan. Love l. o. V. e. living our values every day So that the front and center and that you know your culture is important. And i think if i go back. Several decades people sought culture. Is something that nice to have now. You know culture eats strategy for breakfast. I mean i. I can't reinforce that enough. It's it's important to wear organization where organizations today how they need to be successful going forward absolutely and i now that i was you know in contact with us. You came into the plan in like many companies. There is an emphasis on. You know hyper growth. Get this thing going. Execute grow get even more profitable in even though that pressure. Was there the thing i admire most about. You is your courage to say. Yup we have attention towards growth and we also have to build this foundation and at times you kind of bucked the trend. You're like no. We're going to take people out for a couple of days and we're going to have these experiences. We're point to have these conversations and many companies when they experienced than hyper growth. Don't understand that if it wasn't lock it was culture otherwise it was slot but they abandoned culture during hyper growth. As if it's like you know we'll get back to that After these opportunities and you've just kept in mind that it is clear. This is what fuels that growth in those opportunity inside. You know you know. We talk about some of my experiences than i think we again. We all have experiences. I learned from those experiences. I disengage others. i don't have it right all the time. I've had my challenges as well but just to to continue the focus in and persevere is is where you can you know a allow you to make the right progress toward improving your your culture and then therefore improving your character in knowing what's right. What's wrong based on the employees and the community that you're part of which which again is ongoing so the continued focuses is what i'd stress very strongly. I love that it's like progress. Not perfection you don't have to come out with the culture that's perfect because it will change over times but you have to keep the focus their importer. Your culture is to learning. I now my fans really well and they always come down to how do you measure it. And how d higher of they love chitchat. So far they're like a case. I a So it's so hard to help people understand. That culture is measurable one. You can see it in accomplishing all your other. Metrics on your scorecard but you've taken one step. Further you believe culture is a character is measurable heidi major employee progress on this so i'll highlight a couple of things site in in. You know this because we worked together. But i talk about this also in the book about the sem which is a vision strategy execution metrics it. It's it's a format in a process. I learned at cisco to to make sure things are aligned. Energy said if if an part of that for for us here anna blends also having a purpose and and if you know what success is is for the organization and then other things within it or it helps drive the right accountability sets one. Second thing the normal feedback. Channels right Survey things like that just to get a pulse of where people are what. They're feeling what suggestions that they have. And we do numerous things some things like ad hoc where we do like a franken says questions just open format to hear what's on everyone's mind but have an active discussion and debate back and forth the the other thing which we are experimenting with right now which. I'm hopeful right that this could help. Not only my organization. Our organization but other organizations is something called the belonging index. And we're working on this with with berkeley university and that is where it's inspired by similar to like a customer net promoter score which asked consumers would you recommend this brand in this case. A belonging index ask employees. Do you feel like you belong at this company and out believe as were in these early stages is that if employees feel that they belong anna plan. Then we're making progress in creating a culture that really promotes values of inclusion collaboration great tenacity authenticity and openness right so and have that be living and breathing ongoing so again. We're in the early stages of that and we're working with berkeley because they want to leverage if it turns out to be positive which hopeful for in other organizations i love it. I love the question. I love that it's coming off. That net promoter score bike the feeling of belonging and for my listeners when that's offset with shared accountability for the organization and the individual co creating through character a characteristic culture shared accountability that belonging and my creation. Whether i feel like i belong both in how i'm received in how i reached out is i'm excited to see that research. So how'd you hire for people that either fit your culture. Although we don't want to you know sometimes biogas gets in there or maybe the question is how do you hire and then train for character itself. You know it's it starts of course in the hiring process so it's important to make sure that you're clear on your expectations How we do that and again. I can just talk about our experience by we. We've culture into the job description right so we we have that. Be part of the job description and then we train our hiring managers on really how to interview for culture and make sure that it fits in with the job skills that We look at with candidates. One of the things on that. I might team and i have learned is the did i talk about this in the book as well. As an example the disney institute provides inexperience of what disney has done over the years. They do hire for culture. It's allowed them. Because of the experience they need to have with their those who entered their parks in entertain the entertain And understanding how they do it in the importance of that at the highest levels is something that really resonated with me. Then once you're on board Employees take training on various types of topics unconscious bias to help. Reinforce the company's belief we do training around our l. In you're happy that we've continued to do that. It's part of what we do with. Every employee training around till three sixty five which is an assessment to better understand their preferences in how to work best with their teammates. So and we make that a requirement as as new employees kinda come in and then also to reinforce as they've been with the company for a period of time but i think most importantly though we reinforce our character throughout behaviors in our decisions and we want you know again. We're not perfect but we try to be role models myself included Where we were the kind of character lead culture that we really wanna create and reinforce such good advice. Because i know that you're not only consciously hiring for ombu ongoing training in role modeling in the role. Modeling is the most important part. It tells people what is Accepted here what saad accepted in just for my listeners to clarify like when you're interviewing for character you not have to rule out diversity in You guys do such a good job with using tilton other things to help. People be more inclusive of diverse ways of moving through the world character. Those says however diverse. You are the the intersections that you bring to the table. Can you commit to these non-negotiables when it comes to how we will work together and how we will treat one another and a lot of folks question you know is that ruling l. diversity but i think every company needs some certain non-negotiables that the masses have decided on and they called out and say this is how we wanna be together and you can be freed up to be fully belong all your diversity. We also have expectations that you'll move through the world with abiding by these types of values and so it's a nice blend. I think people get those super confused you know. I'm seeing as we wrap up a real switch in the world because it used to be the war talent. Was you know the instagram posts in. Who had the coolest break rooms. And who had the most freedom it was a lot about personal preference and individuality together and it's almost like the companies that let you show up with all of your individuality without kind of regard to character and then tried to make a culture of it was what was what was contracting people on icy that really changing. I see people wanting to know. Do i work with people. Committed to be in good in the world enjoy work with a corporation that supports us doing the right thing even when it's top. Are you seeing some of those same changes where that integrity is more important than ever to people even more zone over this past year with all that change that the world has experienced with the pandemic in the social unrest. And it's it's just put that even further up on the list of priorities. Yes i love it. I'm seeing more and more people come out as bi core said again. There's so many hot topics out there that will have to get to another time but a lot of people worried that it's a cancel culture but when some of the lack of integrity has been called out. It's not about cancelling it's about calling people up and calling people out and not saying you know you're dead to us but saying folks we need to commit to doing better. We need to commit to working for the improvement for all of us so i. I'm a firm believer. I think you're onto something. I love i think is the perfect time that you're calling out character and character culture and The investment that you cannot scrimp on. you can't do it intermittently just when it's easier when you know you're unique growth rather than when you're in grill for you. It's just been a key component of doing things that will set you up for success. And i've always admired that about your work. Anything else you want to say as we near the end of our time together there's so much good in this book. I hope people really get it and read. It isn't for sale now is out. It's for up for preorder. It comes out on june ninth so Kirch everyone to preorder be great here. Everyone's feedback in franklin say this 'cause he's a ethical humble guy that is unethical but as an author for those of you that go out in preorder. You really help. Those of us hit the first week which in the book business is a big week with a lot of books coming out and what that does just like. When you rate are podcasts and you say you love it. It's simply gets the book on the radar of more people. So it's the most helpful thing you can do. If you're interested. Go get the book and a help us do that. Preorder don't wait for it to come out a frank. You can attest that bundy for a long time. I might get the stuff out in a buck. The world needs at encourage her to that's encyclopedia that over a number of years. I think instead of nagy coming encourages. I like fat. I like that but a lot of people asking again like cooking. Can you point to has taken this from theory in his really built this brick by brick of course with the help of such amazing people that have come on and off your team and frank. You're one of those. And so i just i'm highlighting leaders. That have some of the answers. We need for how we move forward in your one that i i thought of so. Thank you for coming on the podcast today. Anything else you want to add As a wrap up encouragements or can affirm statement about culture or character that we maybe didn't get to know first of all. Thank you again sites. Great talking with you and having this dialogue at super important to me. I really resonate with some of the things. You just mentioned. As far as you know calling people up but at the same time making sure that non-negotiables you know ground everyone It's it's the basis for really a strong culture and therefore character lead culture. Which as i said before is is really the glue for the organization in laos. The you'd have you know the best place for people to work and do their sells And you know you then can perform and grow your organization. Grow your business. Which is what it's all about so thank you again really appreciate that. You're welcome. you're welcome. I think was the most surprising thing when i took an art class. I thought you go into art class to be creative and todd us for like eight weeks on structure in how to kind of lake container around what you're about to create. The the counter thing is that once the structure is clear once you have the basics it frees up. And that's counterintuitive to people and that's what you point out in your philosophy. Is you have to draw the box. In order for people to get creative and And do their best work. So thanks frank. I look forward to. I've already read the book. A pre manuscript. It's fantastic and i look forward to hearing more from you out and about so a good to see you and says the world opens up again. I'll be out to visit. Thank you all the best. You bet talk later. This is no ego podcast where we the drama and entitlement and can't form your workplace. I'm signed wakeman.

anna cisco Ibm Frank calderoni frank kelly wakeman franks syphilis Cisco John chambers berkeley university Nanna dan ombu frank franken disney institute heidi berkeley
06/30/20 AV Test Initiative; My Healthy Home; Opportunity in Chaos

The Peggy Smedley Show

13:35 min | 1 year ago

06/30/20 AV Test Initiative; My Healthy Home; Opportunity in Chaos

"They. All chaos dissolve his opportunity. I think this got boss in the climate off. US Sychev constructed in both Greenfield and Brownfield as well as in a wok. People, using structures and buildings for this boss is causing everybody. Take a look at business models, and not be so caught up Beijing and more innovative construction phones and design firms that operate folks in the space, looking at the spores and saying what will that Neil use case look like? What can we do with the hostage? Welcome back the Peggy Smedley, show the podcasting voice of Iot and digital transformation. Hello and welcome back to the Peggy Smedley show. My next guest is a dynamic leader and a team leader. He has helped clients develop successful strategies and execute transformational projects in business organizations capital. Improvement Enterprise Processes Organizational. Change, management and strategic planning. He is a recognized industry expert at the intersection of technology and business areas such as cognitive computing deep analytics, smart cities blockchain the API economy Internet of things and cloud computing. Please welcome George Thomas Founder and managing partner of New Urbana George Welcome to the show. Thank you so much, Peggy. It's great to be here so George. We have a lot to talk about you and I've had numerous conversations. Conversations you know behind the scene before we got on the show today, but I'd love for you to actually just help me understand. If few things here, you and I have talked about that. Innovation is really not new. You know we talk a lot about smart and smart becoming ubiquitous during this last decade, but I really want you to help me Kinda define. What is really new in this time? This age that we're talking about you know everybody's excited about things, but yet we're going through this cove ed, but really what do we have to define right now? What is really new in this moment in time, but that's a great question. If you think about in a rare Riyadh over the last couple of packets, we kind of paint. The Lodge took me. If you think about the on the last couple of decades, there's a whole none of your business model new ways of actually working with each other, not comfortable and any single one of those in cup in era. Pass would happen significant. You'd take the advent of the Internet dinner. These are all significant effect events similar to those talking about blockchain and talking about how much artificial intelligence has progressed talking about actual language, processing the fact that computers can understand us and talking about groans. Waco's every single one of these on game changes in what they're happening and propounded affecting industries it. How did affecting walk? What's happened over the last five to six years is all of these things have started to happen at the same time? So you have not only innovations and disruptions happening within a particular domain. You're having the intersection in ripple effect has agree with these things. Hit each. And on bulk of the technology innovations, the other things that's happened is as a society will be our needs. Our demographics have changed significant avenue combined the do when you're having society change on mass and having the way the accent talk to each other and work with each other and live work and play in the infrastructure, and you put all that together in a petri dish. What you have is. is the sense of change and movement than progress that is very very new and and rapid, so even in the moment right now you mentioned Gobert so when Kobe happened the ability for us to react as a society known from other countries, due to seeing how much the scientific community is collaborating and sharing information creative axiom. All of this would not have been possible twenty years ago with the technology. We had. I think we ought at the moment. I'm one of those momentous things we look back on fifty years, and saying that was a moment when we as a society changed, and this is what can. This is one of these expert, so then help me understand something because just this past week at the HP e event. Virtual event. John Chambers was on Antonio interviewed him, and he made a statement that we are going to see a lot of startups disappear that he said because of what's happening and we're seeing because of what's happening today that we're going to see them. Being wiped out is innovation is what is hard. I mean failure. Rates are going to increase I don't want to say exponentially, but are we going to see these new ventures all? All these things that we thought were going to be succeeding going to disappear. What is the reason for all this I mean he just said because of what's happened right now. That is going to happen. Do do you agree with that? Or there are other contributing factors all of this? He I think the situation is definitely not helping. If you look at the just sheer numbers, the successfully canoe wrenches, or even successfully Claude Innovative. Initiatives that established enterprises are in government programs do the success rate does not great. It's in the you have failure elites and eighty to ninety percent, which is kind of investment, and then you date fat, and those those projects on those companies those ventures run on these cycles that are fueled by whatever the outcome pursuing cases, either either the pursuit of revenue numbers are eyeballs or delivering content that affects the Ottawa outcome, and then you add the stress factor off cash meet. People, not being able to move, and the basic fundamentals of white streets have. Existed and have. Plans in place. All of those being now debated than suspected you add a very very large stress up. When already stressed ecosystem and then therefore I think John Chambers absolutely right I think stadia rates, and the amount of the company's disappearing is going to be huge and a lot larger, and this is not just through the new wrenches. I think traditional industries as well as traditional businesses are also having to very clearly look at themselves and prepare themselves for world. That might look very different in six months two years, so let's put a positive spin on this on the opposite. Opposite side of this we all think digital transformation and what's happening. Today is going to propel construction who's been a laggard somewhat in adopting digital transformation. How are we going to see that industry moving forward and really actually adopting digital transformation? Yeah, all chaos, there's always opportunity, and I think within the construction space as well. The industry has been laggard I. Guess not necessarily because there has not been ration-, but necessarily because the business climate and the Business Ottawa that's required the be as wear did not allow innovation to seep in, and this happens in every industry I think this. was in the climate of usage off constructed in a both Greenfield and Brownfield as well as a walk. People, using structures and buildings for this boss is causing everybody to take a look at business models, and not be so caught up in the day to day, and the more innovative construction phones design build firms that operate phobes. Industries are looking at the spas and saying what will that new use case look like can do with the assets that we have harder better ways to do it and I I really strongly believe that the innovative forms and sinkers in on Industri-. Look at the space and find opportunities in the Scales Awesome Gainer and find ways to take advantage of the gaps in the space, and this could be an opportunity to digitize parts of the business that have not been so digitized before so as an industry. Are we going to collaborate better? Are we going to react better? What do you think we should be doing more? I think collaborations is the key, so if you look at the an Jason. Industry, twenty years ago, they look at the micro chips you know. The US all of the micro chip vendors in the US got together to create the environment to collaborate and work together to try to figure out what that invested be bent for them how they could innovate, and what standards than they came up with a whole host of things if you look at something like that and many other examples similarly. Walked that causes in thirty year. Dominance of us, players in that industry boost from innovation perspective as well as from a product and a market share perspective I defined, might be right in the construction industry for some of the forward leaning players, the bigger ones and the swallow wants. To start to figure out what collaboration means can be as a partners in the ecosystem figure out a way to do things better, and then all ships rise by you know by the athlete that comes autumn's. What can be done now? What should these companies? Are there lessons to be learned that we can really push forward? Is that what we're saying because? I think right now. We're not doing enough like when I look at construction I look at failing infrastructure when I look at smart cities. Because you know we talk about. There's a lot of opportunity right now but I. don't think we're doing enough. What do you see as a company like yourself at Newer Bana? That really helps organizations think differently. What do we need to do? Do just one of the things we talk a lot. About is this concept of CO innovation and be no very few breakdown. The woods very very simply means. We need to find common problem statements. Problem statements could be challenges, opportunities gaps in a good and bad common problem statements that we can cooil. It's around to create solutions that then would for a broad swath of dust. So if you take any any construction jog cyber any construction company, they are working and have civil challenges in obese safety on site. Beat communication. You how they treat each other in their own ecosystems, between of ain't contractors and subcontractors, everybody's struggling with what I would consider home suite of problems that exist now in many of these technology solutions and business model solutions that are available, and I would say a proven in other industries, so I think setting up collaborative. Come together around problem statements is one way as an industrial recode react so from Newark, Banda perspective one of the things really propagate is doing things together web individual. Party does what they're good at, but collectively we design and build something that has a much rather than going after you know individually as spots so to an extent leaving your organization the door. Finding those common mission statements finding those common gaps in this time of crisis I think is one thing that you know we talk a lot about, and we think many others in the industry should try to find ways to go about doing that. We have just about a minute left. Put in your mind. Should companies thinking about how they have to re imagine their organizations or reimagined things that they've been week at I. Mean What what comes to mind for you? Yes absolutely and and reimagined industries that you'd be themselves fine. You know finding so. Construction is not just construction. We runs this whole gamut of other industries that make. That need to be in place to make it happen. About Insurance. How do you think about rest? How do you think about policy legal? All of these things matter from a business model perspective, so it's not just the physical aspect of constructing something it is that whole ecosystem mechanism that can be now. We mentioned to re look at what we build. Why building whether you need to build it, and how much longer can be get used of it especially with this modern mindset that we have of trying to make things sustainable and looking at it. And, that's an interesting thing. George because I think sometimes we think myopically. We only think about what were building. Not all the things we touch once. We're building it and that's what I think what you're saying. That's what's so powerful. Well George Thomas Founder, managing partner of Newer Bana. Thank you so much. Where can our listeners go to get in touch with you and to talk more about and learn what you guys are doing? Thank you so much pleasure being on now you can come to our website. You're dot com, and find Morris and get in touch, and we would be happy to talk you know exploded responsibility of innovation with with. All Right George thank you so much. Okay, listeners! We are out of time for our show today. Remember we are broadcast live every Tuesday twelve pm. Central check out our website connect world, dot, com, or the Peggy smedley show website at the Peggy smugly show dot com, and most importantly tweeted us at connect. W Meg all right. This is the. Show, the podcast voice bio, Iot and digital transformation I remember with great technology comes Great Responsibility Abbott Obsolete.

Peggy Smedley George Thomas US Greenfield Brownfield Newer Bana John Chambers Beijing Founder and managing partner Lodge team leader Riyadh Iot Iot Neil Claude Innovative blockchain Waco
SaaStr 469: Workday's EVP Product on Fueling Product Innovation on the Path to $10B

The Official SaaStr Podcast

21:22 min | Last week

SaaStr 469: Workday's EVP Product on Fueling Product Innovation on the Path to $10B

"This is sastre founders favorite series where you can hear some of the best of the best from sastre speakers. This is where the cloud meets sastre annual twenty. Twenty one is back in person. Join us on. September twenty seventh through twenty nineth in the bay area for three full days. Hundreds of workshops and thousands of mentoring sessions all to help you scale faster. Podcast listeners can get three hundred dollars off toward your ticket. Just use code f. a. v. e. three hundred great demos win deals and demos stack can help you deliver great demos every time demo stack gives sales teams complete control customization and insights over their demos create custom demos in minutes gain deal winning demo incites learn more and request early access at demos stack dot com. Nyla gives developers the building blocks. They need to quickly and easily add customizable robust and fully secure email communication and scheduling features directly into their applications niholas productivity for all learn more at nile dot com slash sastre. What do new relic and zoom info have in common. They both hired. Directive directive is the performance. Marketing agency fully dedicated. The sas curious if you're a good fit fill out their form and get a one hundred dollars gift card if you qualify at directive consulting dot com slash sastre up to day fuelling product innovation on the path to ten billion with workday. Mvp product-development peach. Lamp start off with a little bit about my background. So i'm the head of product your workday. I joined the company through the platform acquisition. Five years ago and in that time i've led the business here were day and then i was asked to the the entire portfolio products eighteen months ago. Yes that was right before. Kobe happened Before that i was responsible for product development at various startups including networks in iron port systems which was acquired by cisco has at cisco for a long time as well so i've had the pleasure of leading product strategy development and marketing at every stage of technology company. And my point of view. Here is that building product is hard leading product is hard and leading product through the various stages of your company is even harder so just when you think you have mastered the company under this next phase and the game changes but if you learn lessons from the past in you an -ticipant transitions by the way. That concept of anticipating transitions is something. I've learned from john chambers at cisco you can get the on great so some context. I've personally observed Four different phases of growth companies. I know that there's a lot of different opinions out there in the literature on this topic. But this is how i see it. I think it's pretty simple startup. You're you've found that breakthrough idea and you have a product. You're laser focused on survival. You've got a small team grinding. It out in. Everyone's focused on improving products to get early customer feedback in the growth face. Even chief product market fit the businesses generating some consistent income gaining more customers. And you're building up your workforce in the expansion phase you're profitable you're squeezing out every bit of growth out of your initial products entering into new geographies and expanding offerings into new segments. So you're really you're optimizing your existing products for every little bit that you possibly can squeezing out all the revenue and then in the maturity phase this phase that you need to make some big moves to keep on that path to growth. I think there's a real danger of falling into a complacency trap and maintaining the status quo so my latest transition here at workday has been moving our pro team and the company from the expansion phase into the maturity phase on a road to ten billion dollars of annual recurring sas remedy. I found that most of the times the lines between these phases aren't super clear. So you might not know that you need to transition to get to the next phase and one often happens. Is the things that used to work. Stop working you're not sure why For us in this transition it felt like our or model was just a a little bit off. It felt like the way that we're making decisions. wasn't working very well and it felt like we were optimizing for the wrong things so to simplify. I think about how these changes impact three different aspects of your product teams your product strategy your or structure and your innovation models. So hopefully make sense. We'll get into those. We'll drill into those As we go forward here. I think in the product world is really tuckey. Facets of our jobs you do the right projects. The projects right so. The first area was focused on strategy. And that's all about doing the right projects so when it comes to strategy. I think about the outcome. What's the outcome that you wanna get. And i think it's good to think about how those outcomes change as you go through the different phases in the startup phase. It's all about survival. It's about keeping afloat getting your first few customers in the growth phase and a lot of you out. There are in this phase you got to get to profitability. You've gotta find more customers. And you need to make revenue to invest back in the business in the expansion phase it's about maximizing every bit of growth in the existing product or set of products that you have and finally as you move into the maturity phase. That's what i would say. Based upon my most recent experiences ten billion dollar gap how do you go beyond expansion and really get to our ally on your investments and so that requires bringing discipline to your innovation and your product strategy. You need to expand your portfolio meeting way and it has to bring our ally so as we moved into this atmosphere workday we had close to twenty products spanning our office of the cfo office of c. H. aerobics these two different buyers twenty products Span against across them in. Our strategy became about balance and alignment and soviet kumble examples. So on one hand we had to invest in projects that will bring short-term growth. We also needed products. We're going to the long term. We dissatisfy our current customers and we need to grow the for base and finally there is a pressure to have each product. Contribute profit But also super important we had to make sure not to forget pure innovation right. That was that was incredibly important for us so he couldn't get too focused on profitability. Here's what i saw first hand at workday as we were in the expansion phase. Our leaders were identifying every possible way to maximize growth out of artistic products across multiple dimensions and they had these dispersed projects across the various businesses. As you'd expect but everyone was out to win in their own area and as always resources were tight so as we move into the next phase we need to bring discipline around. What would capture the best. Roi for each dollar spent and so we implemented this systematized process of innovation and investment portfolio management model ensure that we had a cohered strategy across the portfolio so within our goals were to ensure a stronger link between our strategy our investments our rnd output to make value-based resource allocation not decimal driven. And by that i mean making quantitative decisions based on data instead of a gut feel or solving the squeaky wheel or the leader that fights the hard part is for his or her dollars for the same time. It was really to make sure that we preserve pure innovation. This additional rigor was good but we had to be careful not to squeeze the juice out of innovation. We wanted to set aside resources in our strategy for those investment areas. We wanted to build the unknown things. But i believe if you don't put in place quantitative tools. How could you be sure. They optimizing against office so portfolio management is really complicated. And it's not one-size-fits-all. I think y'all have to think about this yourself in what you wanna track But for us we kinda successfully boil this down to model could use for evaluating different strategies. So this is the model. The objective of the model was to optimize three different measures in here. The measure z. See here on the screen. These were the ones that were really important for us. I wanted to improve our competitiveness in different areas of the market sui used indicator of product market fit and we distilled that from our win rates. So he set a target for example to approve our win rates in germany and in the manufacturing vertical. That's just a that's just an example and we look at our win rate. We'd set a goal to increase it by x. percent and that was our our target of product market fit second. We measured the effectiveness of our rnd. Investments through their impact on revenue. And so he used a known metric called rdi. The long version of that is the research development index. Y'all can look that up and is calculated as a ratio of organic revenue change to the rnd investment. So we like this metric because we could look across the industry at how we compared to our peers. And how trended year-over-year and so we also benchmark our investments based upon where the various products were in maturity phase and we evaluated. how fast should be growing. How much profit or revenue they should be delivering at each one of these phases finally in for our business but we really cared about was focusing on user experience. it didn't perfectly into other metrics and so we looked actually created this composite metric. You ax are taking nps. Scores surveys of our buying centers in specific measurements. Like the number of clicks took to achieve certain tasks we came up with this composite metric free user experience so overall portfolio management model ensure that we had more confidence overall strategy connecting it to our own market strategy or corporate growth targets into our pure benchmarks and honestly already gone too long in this one. We got full session. But i think that this was one of the most important things that we did. As transition from expansion into maturity so as alfred chandler at hp s. famous famously said structure follows strategy so once you your strategy to achieve the next level of aspiration you need to make sure that your organization designed supporter and this one will probably get a couple of runs. Because i know. Org design is the most glamorous topic especially when we're really ultimately focused on innovating in a lot of companies deprioritize. But i think that can be a huge mistake in my take. Here is the right org structure. The right time is essential to innovation. Especially when you're on your on the cost of moving from expansion into maturity so a great example microsoft's when sachi took the helm he painted this cloud first vision for applications for ayrshire and then he did a significant realignment to support that strategy. And we've all seen how well the company has done since then right. It seems like the alignment of strategy to your worked really well but as much as org structure is important is also about timing and given what you said. In terms of where you are in these different phases. You're going to have a different org structure and it might not matter as much in the early start up and growth instance so in the startup phase. You're typically going to oversee a various simplified structure. Where you just got a single supervisor in a local location overseeing everybody around them in the growth phase you'll probably transition into functional leadership. I'm curious if you all saw that as well what i mean by functional leadership is you've got a product management team. You've got a qa team you've got maybe a design team. You've got an engineering team in their all around centralized functions in the expansion phase. Your business is going to have a couple of different products and you probably need to move into a gm or divisional level with a strong leader overseeing these integrated teams benefit of that is that it drives focus investment in in you can accelerate success within individual product pillar right the downside of course is collaboration. How do you drive cross functional priorities with the pillar wall. It can be a challenge when every business is focused on development of their own individual priorities. So i believe that as you go in to the maturity phase. You're making this big shift in strategy. You're moving to the need to have a hybrid. Gm divisional means of your compared to the us. You'd have the federal government driving these broad cross country priorities state level government striving progress more local level. So i think that if you want to you'll know when you need to to move to this type of model if you have these cross functional deliverables at have urgency and you're not able to get it done in that. Gm divisional log. So i'm kinda fascinated by how companies are structured. I think it can say a lot about them. Secure a workday. We shifted to this hybrid. Gm individual model where we have some federal teams per se the report to product and then teams and other teams like product strategy on esa. Tina drives the portfolio management. Was telling you about. Also as i mentioned you access a really large focus for us so we have. That is a separate team at the product. Federal level and. We haven't chief design officer His integrated team looking at cross pillars but another example is We have a priority to infuse machine learning into our entire product portfolio and our initial attempts. Here we're taking a really long time and some were failing to deliver if we would have stayed. Purely in the gm model every product pillar would have developed its own mls infrastructure their own agreements with customers for data use and sharing and so on and instead by bringing ammo into the central team. It allow allowed us to move but for quick lead to develop a powerful infrastructure a single agreement with our customers to use their data when they opted in for that ended enabled us to leverage data across the products so for example we created something called the skills cloud for human capital management allows us to derive what skills certain workers have within workday and we basically are now able to use that skills cloud across multiple the Pillars and the general manager so we can also apply this Across our financial products as well we this rain foundation investment were all teams can benefit. Okay let's talk about innovation now. Here's my thinking on this one. As i mentioned before innovation is really really important to keep a front innovation is constant through all the stages. You have to make sure that adding process and evolving strategy doesn't stuff out innovation but how you apply innovation where you apply it in the resources that you have at your disposal are gonna change. And the reasons to innovate are going to change as well. So as you who through those growth stages you're going to have more resources and leverage in your innovation. Not every idea is make or break like it is in a start-up where it is. Innovate or die. One shot all your money. All of your time goes into innovating in survival mode as move over to expansion phase. You're ringing every bit of growth out but you don't have to innovate across the entire product line only in those areas where it can help you take advantage of your key products. But i think what's kind of interesting what was interesting for us in the maturity is now we have resources this. The real question is where to put them to get the best return in. You gotta figure out ideas beyond your current products. So moving into adjacency for instance. What new markets can we get into. How can we leverage the resources and the expertise the teams that we have already to get there so making decisions about weird innovate in where to buy. Were partner is key so quick anecdote here is when workday made the decision to get into the employee experience market which is really really hot right now. We made a decision about what divi in. What the bill now. We are already innovated in several areas employee experience with hr service delivery with talent optimization products using machine. Learning still body was tiny about before but we knew that there was a really interesting companies out there that had made these leapfrog innovations that have taken us a really long time to build ourselves. Like for instance in the voice of the employee area so we leverage our resources to acquire p. con Earlier this year which is employee surveying tool to basically get the voice in the employees soon model of innovation was organic and inorganic and together delivered. Something very unique market so just a couple takeaways for debates yourself first of all keep an eye on our ally when it comes to portfolio management. I do believe as you move through those different phases. It becomes more and more important to make data driven decisions to not let the loudest voice in the room win. And make sure that you're actually getting a return on your the dollars on that you're investing in products to Org structure is voice balance. Strong arguments for centralisation and also decentralisation. We've had a ton of arguments about paddock workday in I'm really happy that we are iraq. It was through a bunch of trial and error and experimentation to get there and then finally i couldn't enough don't stuff out innovation as much as you might feel if you want to add process over the top consider how to apply innovation at each stage Unique to that sage leverage your resources appropriately. Great demos win deals and demos stack can help you delivered great demos every time demo stack gives sales teams complete control customization and insights over their demos create custom. Demos in minutes gain deal winning demo insights. Learn more and we're twist early access at demo stack dot com the n-i-l-l-a-s api's deliver secure powerful and performance email and calendar integrations that drastically increase productivity for both software developers and their end users niwas productivity for all learn more at nyla dot com slash. Sastre what do new relic and zoom info have in common. They both hired. Directive directive is the performance. Marketing agency fully dedicated. The sas curious. If you're a good fit fill out their form and get a one hundred dollars gift card if you qualify at directive consulting dot com slash sastre.

cisco iron port Gm tuckey Nyla john chambers alfred chandler bay area Kobe sachi ayrshire hp microsoft federal government Tina us
Johnjay & Rich Present: MISSED CONNECTIONS

Johnjay & Rich On Demand

14:46 min | 10 months ago

Johnjay & Rich Present: MISSED CONNECTIONS

"The companion podcast HBO Maxes the murders at White House farm is an investigation of what really happened in the words of those close to the brutal case listen to the murders at White House farm the podcast on the iheartradio APP or wherever you get your podcasts. Even, when the show is over, sometimes we just keep talking and now you can hear it listen to the John Jane witch afterwards broadcast on iheartradio or wherever you get your podcast John Teenage time for Miss. Connections. Now Miss Connections is you know to people that connector me one person that connected one person wants to connect another person they come to US bill. This is a unique miss connections correct producer bill it's unique I think so how Because, if I remember correctly looking at the notes, this goes back to December. That'll true along misconceptions. Normally it's like you know there's this is this is like a you know school's back to Christmas time because. The person that call is trying to reach it's been what ten months since he's actually seen her Jeez. So how long you been talking to coal just a few months maybe four months three four months ago. Okay so what information to give you? Not much but he'll tell you the entire story about the magical night in December. Welcome call. Welcome to miss connections. What's the story? So, Yeah it was. It was December of last year. I was dating dating this girlfriend are girlfriend of mine for a while and She asked me to go to the holiday party with her for her work and to be completely honest. I had no interest in going because we were her and I were like already on our way Al we didn't look like our relationship is going to be going much longer So we were there the party and we're there for a couple of hours and I went to the hotel lobby and I was like, all right I'm GonNa go get a drink and whatever. So I sit down and I'm sitting in the lobby and this really attractive women just like sits down next to me and start the conversation with me which was just so crazy. So so we started talking and how she was. There as well and she works for the company, but she was bored and didn't want. So we just kind of had a nice moment to sat and talked and it was nice. Gray and like I honestly she asked me to go and get a drink with her and I was just say yes and then my girlfriend walks out and says. That shoe that wasn't asked me to come back to the party. That she sitting there across from you and you're talking and she's like I'm here as well. I'm here as well. I think. I'm drinking I am drinking as well. To get a drink I. AM already you're. At the bar. Twin. Picture. It's like repainting a picture. But okay. When did you I'm assuming you and your girlfriend broke up. Yeah. Yeah. So we we honestly broke up just like a couple of weeks after that. So you know I've kind of the past you're thinking. Damn. I should have you know went and had that drink because there is no. No reason for me to go back to that party when I have something going there. Well you went to producer Bill Pretty Real has a gift for this. Correct you I'm assuming you tracked her down and we wouldn't be here I have a gift and I just have a lot of luck because This wasn't too hard I. Don't this particular company I. Don't know anybody that works there but my wife has a friend that works there. So we contacted her and. I will say this I know some things about Morgan. Oh, I'm bound by the Miss Connections Code. So I can't say anything more but we do have a phone number. So coal if you're in by the way thirty seconds ago, I sent you a picture of Morgan just because I want to verify that that's actually her and I'll. I'll. I'll show. Yeah. Right Oh dude. Back that party Roy Okay Let me. He's really. Yeah. Sure. It says face. It says the ESTA then Siesta. Really. Good time you know what that means. I do. All right. So we're GONNA call her that's her. She's beautiful. You Ready. We'll take more your online. Miss Connections continues next which on chain rich. In, the middle of Miss, connections back in December at a holiday party co was there with a girl he was dating and he met Morgan at the lobby the girl he was dating was not introducing anybody and he was alone he was just walking around. Listening to the Justin Bieber. Song. Only Rick. Does on Saturday night. Now. So, he goes to lobby. He meets Morgan mortgage. Talking she was at the same function she said, let's have a drink and he had to go back to the party go back to the deal with his ex girlfriend the girl broke up with him two weeks later he's been thinking about Morgan percents all he knows that her name is Morgan and that she used to work or did work with his ex girlfriend producer bill and his crack team of private investigators tracked down Morgan I. Call You ready. I am definitely we got a picture of coal and Morgan by the way they're both tends drilling. Alright. Really we put upside or not. They're not that good looking. To the. High is Morgan there. Hi Morgan. This is John Chambers radio show. Yeah. We want to put you on the radio for a second. That's okay. Sure. I love you is I. Trust You. Morgan. Thank you for being on the air with us. Here. Is this is a weird situation we in our studio right now you've got rich partner you've got Suzanne Kyle and we have producible producer bill is in here because producer bill's been talking to a guy by the name of coal. Now you don't know call, but you've met coal are you intrigued so far? Okay, you met Kohl around Christmas time last year. Okay so Coal was at a at a holiday party. I think it might in your company Party and he was with another girl The relationship was coming towards the end but he was very true and faithful to the girl was dating and you guys sat down next to each other and had a drink talk for a little bit. But he had to go back to the Party and he can't stop thinking about you him and the girl broke up two weeks. Later he had come to Austin Asa track you down. So. We'd like to talk to you about maybe with coal in by the way he's very handsome and he's got a beautiful golden retriever. So. Okay I. Think. Wait. I'm trying to remember I met a couple of guys. I was out in the lobby for a while there are a couple of guys there. He needs some of the the guy that through. Yeah. Can you hear? She can hear you let's call. Him. Oh. Sorry. yeah, we were. There was a guy that was you know belligerently drunk and he stumbled into the bathroom to throw up and we sat and we we were joking around about it That I do remember you. Hi. All this is awkward. They hope. You're doing fine. Okay Near the Guy I think you had A girlfriend that right. I did but we actually we broke up shortly after and we're not together anymore and. I might have called. Them to help you know find you a nice way and and I would like to. See if you might still be interested of way. Or if you even were in the first place. Well, that that's That's really sweet You're you're really cool. I I gotta be honest with you just seeing shape forward on A. Few. Have a fiance since then oh Foods. To go out with. I, he was. Cool really. I hope you don't mind me saying. But like you know he's really cool like Tall Hanson dress really well, you know funny You know we had a good time in that moment and then it was like. You know still couldn't stop. Keep an eye on him once I realized girlfriend but But yeah, I just There wouldn't have been a way to get in touch with me I guess 'cause I I left there after a couple of months so. Yeah I. SO I. Here's the thing like on the flip side of things You know. Relationships between different things to different people and I'm kind of always looking for. Ways to have discrete sort of fun. So if you're ever put out, I'm up for that. What we what? Like. Yeah. Like. I think. That's yeah. I mean it's never going drink or Also WanNa like you know. She where it goes one time and place to meet up like I mean, we could meet back up at the same hotel. We know that is. Is Is there any way that we can? Mortgage it anyway or is it okay if they put you on hold for a second if I could. Talk with them. I mean sure don't have dirt on me but sure. I. told. Kinda changes everything now I. Ask. I don't know on word. Karma fee very careful with that second word unavailable third word she's a supermodel. So, hot forth word she's probably done this before she. Cares, don't marry her. Math. Rapport. Hot Drama. Dime then fiesta one time this girl. And now you are very good-looking yourself. But. She's supermodel basically you're saying she's not this is right but Mrs Right now. We're not saying that I am. I'll I'm telling you like if you were my friend, we were hanging out of you're like my brother, the vice out us. If she wants to try hook up one time, I'd Saco hookup of time. I would say, don't date her don't see again they'll get relationship with. Juju, for Air I really card is Her for no you know she's engaged. I know you're still going through her guy owed sometimes you can't sit there and think about. Talking about how can you should think about Donald? Sometimes, we should. Complicated. It's like. Drugs, I don't do drugs I don't but if I was with soup talk, could he pull out a joint I'd smoke a joint with soup dot right. So if if does that make sense all. I mean, that makes sense as when it comes to this not. She's beautiful and she's sexy. She's attractive and she's really into throwdown with you one time though down you're not married you're not not anybody and she's not married yet, and so you know maybe she didn't maybe she's not telling us the truth either way your decision we're not the one. That's you know we kept on hold forever. You'd want to hang up she's too hot can bring back in. Yeah that's right. Morgan. For here. Okay, I want you to hook up with producer bill. Is GonNA test to goods I. Built you bring like a pool stick and poker I and see what is. What is wrong? Minded Pool, table. I don't. I don't have that. Why would. Get the stick without the table. That was didn't have a pool table. Married. Joy that. So anyway, only called, you mortgage the longest time in reading the screen it's more gone. My apologies? I'm so sorry. Of. My bad. So. So cold more than what are you guys GonNa do? I did have a lot of fun then I and I was interested to the point of telling that but. I don't know if you're engaged. I I wouldn't be the other person because I've had that happen to me before and. I couldn't you know do at tiny one saw. A. Oh You know maybe I can. You can have my number and then if anything ever happens, you can give me a call I. Don't know if I could. Do that unfortunately I'm sorry. No. That sounds great. You you're a really sweet guy. You're how I remember years. So yeah, we can do that. We can talk numbers and hey, listen if you ever change your mind I, know it was kind of a shock. but you know if you ever change your mind feel Freda Yep. Thank you. Call. Good luck to you like a great guy is a lot of girls get Konosuke. Wanted me you. All right. So be prepared. All their contact info. All right. That's miss connections judge enrich.

Morgan producer Party Miss Connections bill US Coal HBO White House John Jane Al Gray Justin Bieber Mrs Right Konosuke Roy John Chambers Rick shock.
Part One: How to develop a winning strategy as the economy restarts | Ep. 132

The ROI Podcast

31:21 min | 1 year ago

Part One: How to develop a winning strategy as the economy restarts | Ep. 132

"How do you deal with world that tremendous emotional and physical pain that is going on in today's world with endemic? But how do you also say? Here's what is GonNa look like when you come out not with now even better family how to get there and then you leave. Welcome to another episode of the Roi podcast presented by two Indiana University. Kelley School of business. I'm your host Matt. Martel joined by the Dean of the Kelley School of business. Idee Kezner here on the show. Our mission is to help organizations make better business decisions so if this is your first time tuning in we just want to welcome you to the Kelly family and let you know that we exist for you. So if you're an organizational leader who's really wrestling with some tough leadership decisions if you're if you're looking for some expertise and loved to get hold of some of our faculty and pick their brain or you just have a great individual who's GonNa make a awesome guest for our show send us an email to. Roi Oh I pod that's Roi Peo- Dean at Ip y Dot Edu. It's incredible the time we live in today as a society. Here we can grab a device that fits in the palm of her hand and can access data from anywhere around the world. We can get knowledge from everywhere and look up anything with by a couple couple of sentences and instantly. You have instant feedback on your device. So it's not the important thing that we gain this information and whoever has the most information to win it's how do you connect those pieces together? And how do you leverage that information to connect the dots if you will in order to make great business decisions well today? We are honored to sit down with the former. Ceo OF CISCO Systems. Who's the author of the book connecting the DOTS lessons for leadership in a startup world? He's a Kelley School of business. Nba Alum and now the current founder and CEO of J. C. Two ventures Mr John Chambers. Welcome to the podcast man. It's a pleasure to be with you today. We've got a call each other by first names. Alright including being if I may call you already. I'd be honored so you have this incredible book that you've published the called connecting the DOTS. And it's been so fun to read and one of the biggest takeaways I gained from. It is the simplicity of how it's put together. It's very simply written yet. It's so powerful in the principles that it offers in the wisdom that it shares over your time at Cisco and there's this common thread or the feces that Sh- constantly shows up throughout the chapter. You know the quote were you say quote when I look back on the incredible competitors and you're speaking of the competitors of Cisco Networks who later disappeared. I realized that most of them didn't fail because they suddenly did the wrong thing. They failed because they kept doing the right thing for too long. And that's a very interesting thought. And I want to know why that is such a powerful quote for you and how that became the bedrock for this whole book if you think about it like we're product of how we handle our challenges and how we deal with the setbacks than we are successes in many people often don't realize that you have children and you begin to see alborn. It is not how your child handles a great grey or winning soccer goal when they get knocked down for the first time when something goes wrong. Social How they respond to that as huge amount to do with their future for me being dyslexic and I never used to talk about that at all. I thought it was a huge weakness a secret that I would keep I head learned overcoming without a great teacher. Mrs Anderson I would have never got around once idea even though my parents are doctors Once I've learned how what the challenge I could copies things. I never dreamed possible. I also saw that West Virginia my home where it was the Industrial Center in the chemical industry of the World Coal Mining Center of the world and more millionaires West Virginia than all the United Kingdom combined. Yet we lost our leadership because we filled the change. We kept doing the right thing to law then I saw it in high tech with. Ibm Mainframe Player that. Nisa minicomputer basis a Wang laboratories minicomputer bay is with miss the in client server. Pc In client server players missed the Internet. The Internet in part miss the cloud play. You know where I'm going with. This almost inevitably a new generation of leaders come in because somebody keeps doing the right thing to law and actually is worse than taking the risk and occasionally missing so I like to just share that very candidly. But I've also learned to your point. In teaching. The students and students can be sixty year old students constantly earning myself. I don't remember the stories. Were they will punch lines. So that's how I tried to write the book. Tell the stories in the book and then kind of the key. Takeaways at the end of the chapter summarising the Chapter Ricky Points. So John this gets to the very hard of management and ensuring that a leader can get his or her organization members to follow new paths even when the current past may be still financially promising. Moving from one. Ask Her or life cycle of technology to another so. I'm wondering what your best advice is for leaders. How can they almost act like a Paul Revere? A sense of heralding convincing people about the need for impending change because of the challenges that you're going to face what's the best way to convince people. In those circumstances we all the way to convention convinced Mattie is to share with them the negatives if you don't we are all in motivate about more about fear in what happens if it doesn't work then we are the successes however I'm a believer in dreaming a Shimon Peres Fredrick Day. If you will late president of Israel who I knew for seventeen years. He taught me to bring dream. Big Dreams And do things like a teenager much like we were wrestling with college or early years of MBA school but break down two elements the role of a leader in the space she to CEO accompanied regards. It's a very small company very big strategy and vision for the company develop recruit and maintain the leadership team to implement that Bachchan Strategy Culture and Communications Enduring Times of challenge. Actually Culture and communications are so much more powerful even perhaps even more than strategy and vision in terms of the implementation on it then one of the challenges faced. Today is all the students you've graduated in the last twelve years. None of them ever seen a downturn and even with the existing CEOS A big companies and small companies and government. They always seen it at usually a dramatic novel new organization and they have no idea what that void in your stomach. It's like when you're making a decision that you know what determined the future of your company or not. You make a decision that unfortunately lay off people and you know the terrible implications for their family. Leadership is reluctant. But if you haven't experienced and all of a sudden you're seeing a first economic Challenge in twelve years and what you would consider the basics that you would have taught us an MBA school. This team has never put to practice. And so understanding what you know and knowing what you don't is a key element of it and then deal with the world the way it is not the way you wish it was. My parents are doctors. They caught me last what you have in life and then deal with it. Appropriately to issue is different. Does nobody any good. And that's definitely now what people want to see leadership but a key takeaway is communication skills during the concert challenges. How you communicate the issues. Are you property position on how you paint the picture of Amount of our key in communication as much listening benefits culture. It sounds unique. But it's like a great idea basketball team How you build the culture where it's one team with one goal and they could always lower each other will be added without looking at him to make an ass. Culture and communications are equivalent to if not more important than strategy and vision. I during the downturn I really believe before organizations can create disruptions the leaders of the organization that are leading the charge leading the cultural communication. They need to have confidence in themselves confidence in their abilities and even confidence that were there weekend and I think that becomes a key part for leaders you know embracing the weakness as a leader and being confident even still within their weakness so for a lot of these leaders who wrestle with weaknesses of themselves. You know how can leaders embrace some of those challenges or embrace who they are in full so that they can then go ahead and lead confidently to lead toward disrupting their industry in the right way. So let's say mad. It's a very delicate balance Being very candid during good times but especially during the challenge in towns. Make no mistake. We're in challenging. Dom Nail biting views is probably GONNA last three to five quarters about `Solas dear nor over the optimists. Thank Realistic Optimus. Perhaps in terms of the direction You've got to know what you know and know what you do There's a fine balance because your team. When they know that their futures accompany their jobs are dependent on you. The customers look at you and know that if you miss execute you could call stem huge disruption in a negative way as well you gotta have that fine line between confidence and ability to lead a team and win to be a little bit transparent in a little bit vulnerable but make no mistake about it. It's like the leader of a dog sled in that the whole team does not go any faster than the dog with a lead dog goes at a pace semester. Team can keep up with. They break down. And so it's the ability to strike that balance becomes very very key It's also the time when leadership is really lonely when leaders told me John Jack Welsh Shah Taught me an awful lot. Leadership is terribly loneliness. Said forty thousand people were about to become the most valuable company in the world. Jack Unit isn't lonely at all if he said yes same message. Ammonia Bris said to me leaderships extremely low. When it gets tough you are by yourself no matter what people say and how. Good your friends around you. They're looking for you to lead. They're looking for you to take the responsibility to put the corporation or the organization on your back in with your team. And empowering your team navigate through It's scary the first time you do it. If I tell you I felt really good going into a new. I've always known what I know. I know what I may not admit to it matt bad at focus on that and I knew going into my first huge downturn two thousand one. I didn't have all the answers and then I took a real risk because we had been the most valuable company in the world and we couldn't do anything wrong. I mean there was never a negative article. Ten years written about Cisco we created in thousand millionaires among our employees The leadership team made every every magazine cover imaginable. And then all of a sudden people questioning can you even lead this company and it's the classic execution If I cannot go into it when you find yourself in a crisis the playbook is remarkably predictable number. One be realistic. How much was inflicted by the outside forces to how much endure? And if you've got internal problems at the same time without external you've gotta deal with both together. Secondly paint the five to seven major program spent when you're going to run and how those if you exit right we'll get you through the Christ's number one be very transparent. Don't hot at number two. I in today's road. It's all about cash. It's about addy you heightened the expense really at number three. It's about how to interface your employees because your employees your family and I believe it's a family for me is a team that will get you through this number four. What are you GonNa do with customers out of the relationship's going to change what are their hardships? What are their key issues? You walk down through several more always leaving one or two quote wildcard topics that. Here's what is very unique as we come through. You paint the picture but the company is going to be your North Star as you come through this off. These baptists programs you communicate regularly to your employees to your shareholders to your parkers to your customers the media on the updates on your quote elevator pitch on how to manage this. You anticipate. Ob longer than you think it will. They always always are and usually deeper position. The company for how you come through it and you just stay with them and then at the right time as things you began to get that really work. Well then you have a chance to break away. But many people don't realize is we went from a company. At CISCO SEVENTY MILLION IN SALES TO FORTY seven billion My time at Cisco We gained share during the good times. But really it was during the bad cops Broke away from all our competitors and usually where the competitors will under our our intensity if you will on that so every downturn I've been through we've gained share on and I try to teach the startups. How did they do the same thing? How do you deal with world? The seriousness of it the tremendous emotional and physical pain that is going on in today's world with endemic the issues with it. But how do you also say? Here's what's going to look like when you come out. Not with now but a realistic plan on how to get there. And then you leave and so with my eighteen startups one of the things. I WANNA do Outta. We lead through this with all eighteen as an example for others and that's where I partner with President Macron in France and our prime minister movie Indian. How do you start up? Nations in France round the finch Embassador or in India with the digital India. I with one point. Four billion people around the chairman of the US India's each arch form. So it's how do you get those anchor points? If you will what you do now do you make a difference? Can I WANNA go back just for a second to disruption? We were talking about and I recognize in the question. I'm about to ask your your issue may have been different just two short months ago at the start of all of this pandemic versus now. But I'm wondering what industries you think will likely be disrupted as we move forward in the future. What are the industries that are most vulnerable? They're always vulnerable Unlike two thousand eight where the finance industry was the key. Challenge the key problem. The great news is our financial companies are in very strong shape and they can help lead through it but there are also vulnerable a new generation of startup so ago across every industry in terms of the exposure. Nobody's immune from it you either disrupt or you're gonNA get disrupted the speed disruption is going to be based on a terrible endemic a the most steep market GDP declined probably fifteen to twenty percent. This next quarter negative. Which even when I read about it in the nineteen twenty nine books. I said that's impossible. It's going to happen from three percent. Five percent growth the minus fifteen to twenty. And then what you look like as you come out through it so this is kind of how I attended. Approach it and approach in this country. We do our job. Right will come out of it stronger than before. It's a lot what you all taught me at Indiana and the business school. You did an amazing job even with a very difficult slow student that I needed remedial training periodically but really focusing on. How do you you drive to it? So educations equalizer light by stopping. Asked you combine that with the Internet. Second Flash light the wildcard. All of you want to watch. I think the third going to be artificial intelligence in automation at unbelievable speed. So those the kind of if you will the foundations I think great schools great countries businesses will be on. I I want to go back just for a second to that. Education is the great equalizer. Because that's the point you make in the book and of course I can't resist. This is dean of a business school. Shirk education can give you something. No one can take away flexibility. You were you want in a process of continuous learning. I'm wondering what can business leaders due to embrace that philosophy of education in continuous learning in their own organizations. Well I think attach factor culture at a if you watch a culture in its Cisco we were a family. All seventy five thousand beef. I knew every onus of every employee their spouse their kids even their parents is life threatening we were therefore them like no one else if you will not just a capitalistic or world view of how do you make money for the shareholders. Also how do you benefit society by the way to go hand in an amazingly? Well wherever is number one in the World Inc Responsibility Number One? A market share without exception in terms of the direction. And so it's how do we as leaders think about this perhaps differently at a different speed They've done before and how we execute through. It's going to be tough. I don't miss date anybody. This podcast forty to fifty percent of the fortune. Five hundred to be gone decade. This will dramatically accelerate back. Your industry question obviously areas that are most vulnerable airlines if you will Transportation as a whole hospitality but one thing that surprise you several there's companies. This is the cool thing about startups. I'm touching them all. You have several of the say. We don't want to be in this crisis but we could deal with the world. The way it is they are going to leapfrog and attempt to break away versus their traditional competitors now and they're willing to take the risk in bet their futures the company and as a leader will make that transition and you're seeing at the. Mary's you might shock you so everybody can be disrupted but it will probably be more of a a rolling disruption to enemy industry whether you're in retail or whether you're in financial over time but everybody will be completely disrupted and every company will be probably seventy percent of the startups will be going not just a decade probably thirty percent of maybe even forty will be gone in two years. We saw that in two thousand one and Hotak. We saw it at twenty to thirty percent in the two thousand eight counter. You know sticking with education. A lot of organizational leaders may struggle with you know wanting to be hungry. I mean they just want to keep doing the same thing like your quote says how we started this off. You know. It's not that you do something wrong. But he should do the right thing for too long you know and I think that even that mindset even comes into education where organization leaders think. Well I know what I know and that is getting me by and that is you know. It's making me successful yet. Without having that hunger to grow and to be ahead of the curve you know like you say people are GonNa get left behind so for organizationally to are hungry and are trying to gain. Knowledge wear from your perspective is a great place for them to spend most of their time in developing their leadership skills. I'M GONNA show you my bass here I I believe that you look at future of a company. It's about understanding your customer will and it's about understanding your employees family and I realize employee family isn't for everyone and most companies. Rudo practice that but boy it's power for fugitive. So what I do. I listened to customers and they tell me the market transitions that are going on. You felt dirtier mad about the ability to get access to your iphone in the ability to see everything going the world. That's old school. Abbas doing that twenty five years ago knowing every order at Cisco everywhere in the world versus forecast as of one minute ago versus based on that rate the week would be what the month would be. What the quarter would be. Eighty percent of our business was new every quarter. We never missed a forecast. Always plus or minus one or two points above wanted to sense of people. It's amazing how you keep doing that now. Always wondered well. Why didn't you anticipate do it? Each quarter on it and the one quarter. We were still within the range of one penny below consensus. The stock dropped twenty percents so understanding. How do this but what got me into trouble was at became too depending on? There's numbers and so in nineteen ninety nine. The December time period it was growing at seventy percent year over year the first week in December historically that man I was going to grow at least fifty percent. The next quarter at forecast thirty five percent. I told the market growth thirty percents plus and by the third week in January two thousand. We were dropping at a pace. That was read thanking unforced down thirty percent. I'd never grown in less than fifty percent. Mattis thirty swing of one hundred percent. I made the mistake of. Even though there's financial markets were dropping. I did not go out and spend the time with the customers. And if I'd done that I would have seen it coming. I didn't make that mistake again but it was very painful. However once the topic's weird found this I realized my mistake. I made the decision called management. In the morning we announced that afternoon restructuring the company unfortunately layoffs we outlined a plan and we were done in fifty. Wendy's before any of our competitors even moved and while I've done anything to avoid any the was what broke US awake. More appears in most of our peers didn't even make it through it in terms of transitions. I WANNA follow up on this idea about data in getting information from your customers because sometimes people organizational leaders they they sort of negate customer comments. They'll say oh. Those are bad customers. Are you know we don't care if we lose those customers anyway? Or they don't know us. They want anything about us. Our you can't please everyone and I'm wondering how you contextualized the customer feedback. Of course you don't WanNa overweight any single voice. But you certainly don't want to dismiss customer Murphy Back. That's so valuable. So how do you make those judgments in way? That is perspectives will. It's a little bit different for if you're a business to business customers versus business to consumer. Let's just talk about business to business The first time I'd have a young CEO one of my startups say those customers aren't that important than they don't understand it and and they complain too much would have long discussions if there was somebody. Our nation at Cisco router listen to every critical world every night and could accounts we fix grew fifty percent faster than those that had never had a problem. Almost you opposite of what you would think you think you've customers. You never had a problem would be the best I drive through the company to be customer. First in everything you do so I started off with being driven by the customer than focus on innovation happen and then focused on just doing the right things and then building great Danes that are almost unbeatable and we almost are and that's what I try to deep into the DNA of the company with the humbleness. So if I have a leader that is saying well customers. Don't understand it I used to be dependent on. How firm a nudge or out. Big of a union love APP. I need to do just to say if you're better I've got you. This game is already over. One hundred eighty companies An Atomic Cisco two thirds of which we were successful in industry with acquisitions were ninety percent sales. The first thing I would do is focus on a company that I really liked the strategy in Bishop's Dan was the leader really good and then I'd go straight to their customers and I'd say what do you think of this company and I'd go sit down with the CEO if she didn't mention or he didn't mention customers at least suited retirement. I five minutes talking with him. I wouldn't acquire the company and so people said the only analogy get everybody. Adjust to your culture. Did I wake where companies that are similar? The culture that I believe in and customer first in everything I do. I try to get that across all the companies that I work with. Finally as we begin to wrap things up. I want to know because data seems to be such a pivotal point. Four you especially running one of the largest networking systems in the world. How do you as an organizational leader not let the data light you or not use your own blinders to only see the data? You want to see to help you feel better. But actually use the data to keep you honest and keep your organizational honest. Even even when it's painful will the first thing mad is to realize we have to change over time. My Dad was so good for me for ten years that we were the the gold standard the top company in the world in terms of growth fan execution. And we just never missed. But you've got to constantly change doing the right thing too long as we say at order can be a problem secondly listened to moderate at multiple data points. I'm hearing that coming out of West Virginia and again my challenges at IBM and Wang Same type thing. You always listen to Data points so while I missed the two thousand one downturn dramatically adjusted in fifty one days with methane however in two thousand seven the great recession we call in the middle of the summer. Two thousand seven. Something's wrong with financial institutions. Even I total data look good but my customers in the finance industry slowed their ordering down by just twenty percents versus normal still growing well and I went to the. Ceo's I said what's going on. They said nothing would look conservative. Not Eight financial institutions. Same Damn So. We said there's an economic problem coming We call that almost a year ahead of two thousand eight two thousand nine. We adjusted our company to we blew right through it on the direction and even today. We'll see if if if if we got the upturn right which I think will be by the end of this year if we get the endemic reasonably under control and if the government's continued to do the right things I said in in January February. There's something wrong again in the economy so out of Asia assault startups. All of a sudden. People were traveling. They were having trouble closing business. The issues in China were coming down in the Southeast Asia. I'd seen this movie before I if you're having sudden slowdown business and travel etc you take. It was logical. It was going to go global terms of the approach. So I got my company's ready for what I thought would be a downturn inslee of Goodwin. I'm now switching literally this last month to get you ready for the upturn. In how do we position it? How do we slide? That skill forged or backwards based on the issues in front of us will see if we got the upturn trend right or not but again. It's all customer driven capturing data from many sources sometimes from sources that may shock you in terms of who give you the best. I can't resist asking John. You've talked a lot about image. May and you have. An amazing emanate track record mergers and acquisition track record and. It's very very clear that being an effective negotiator is being very important. Part of being a good corporate leader. And so when you talk about is you need to really understand all the perspectives anticipate how your customers are going to refine your peers are gonna respond your competitors going to respond and you play it out almost like chess match and I was just wondering if you could talk about or speak to why you think it's so important to understand the motives of others and their style of play. Why is that so important whether I is that? I'm a huge believer That if you analyze your competitors or even your own team you're going to be able to predict pretty much what they'll do under situations so I knew all Massey Oh counterparts who are competitors. What motivated them. What schools they go to. What are their parents do? How would they make decisions in lane the chess game and usually predict two to three moves out? They were doing they however my dad taught me playing. Brilliant Engineers Withdraws West Virginia during the chemical industry where they would just wicked smart. The engineer is always predictable. My Dad and I went. And so you knew probably what they're gonNA do and they were sure what we could do. And a little bit that unpredictability goes a long way but to answer your question. Very specifically I had a playbook here seven plays Iran on every acquisition and. I never valeted those that anytime I did. I regretted in terms of was the culture. The same with a customer oriented. Could I keep the engineers yet? The next product out the door etc did twelve acquisitions over a billion dollars on I could get a call from the head of the Nasdaq owner Thursday night. Saint John. You're NYDIA Everybody knows on this exchange that accompany that you should be buying is going to give up by somebody else. Arriving about it and I didn't even know the name of the company has kind of embarrassed and good news business development person didn't know either met with that. Ceo The next morning of the company at noon ahead an shake for three billion acquisition. So we both boards of directors announced the following Monday morning Editors didn't even is there speed of an invasion process and really turn the crank on us and so when I can get my competitors making one or two moves at. Tom And I'm playing the chess. Game Boards backwards the outcomes etc. I got all the time on it. Maybe in my next life I will be quite as competitive but I doubt it's Kinda like when Indiana place for Kentucky. I believe we're going to beat them because we're going to take it to them with the intensity we're GONNA have a game plan down better than the others and we're going to have fun doing but key takeaways life this stage of my time. I Really WanNa make a difference whether it's personal life for the business for the world secondly life to its fullest and I do with their taken teams hunting and fishing in Alaska With Young C. E. O.'s who've never seen a grizzly bear before much less even codfish Or whether you make a difference on countries with France becoming the top startup nation of your and then third. I want to give back and to do that. is a tremendous honor in life. And I'm trying to do the best. I can to do all three at this stage again. John Chambers former CEO OF CISCO systems author of connecting the dots lessons for leadership in startup. World. That book is available anywhere. Books are sold. He's also a Kelley School of business. Nba Alum and current founder and CEO of J. C. Two ventures. Be sure join US next week as we take these foundational principles from John's book and we're going to work to build a playbook so our organizations can begin to re enter the economy in this crisis. This has been another episode of the Roi podcast presented by the Indiana University. Kelley School of business. I'm your host Matt. Martel joined by the Dean of the Kelley School of business. Id Kester Beer on the show. Our mission is to help. Organizations make better business decisions. We'll see you next week

Ceo Kelley School of business Cisco West Virginia Saint John CISCO US founder and CEO CEO Mr John Chambers Nba France Indiana University Matt Martel Indiana IBM DOTS