Browsing Tag: Investment

    Articles

    Business by the beach: Why Virginia Beach could be your gateway to the US | European CEO

    December 16, 2019


    Warren D Harris: Of course, we are a first
    class resort city. We’re very fortunate to have a wonderful beach
    resort area: approximately 13 million visitors annually experience our beach. But we also have an emerging town centre. Our financial hub, our cultural hub, our central
    business district. We are trying to diversify our economy, and
    diversify our business complements here. Because we have a great location, we have
    an excellent workforce. We have access to the world, in the Port of
    Virginia. As an economic development strategy, we have
    certainly taken it upon ourselves to throw the beach in for free. European CEO: The City of Virginia Beach,
    centrally located on the US east coast, is probably best known as a holiday resort. But the city is reaching out to Europe as
    a destination for businesses seeking to expand into the US. Last year $372m was invested into the city
    – but for Virginia Beach, attracting that amount of capital starts by attracting people. Mayor Will Sessoms: Virginia Beach is the largest city, population-wise, in the Commonwealth of Virginia. A lot of people don’t realise that. The city is the safest of its size in the
    country. Our school system is truly a world-class school
    system. So we take great pride in two things: safe
    neighbourhoods, and also a well-educated city. European CEO: Virginia is home to the east
    coast’s deepest water harbour, as well as the world’s largest military installation. These – as well as the beach – have been
    key assets in expanding the economy. The Virginia Beach Development Authority knows
    this well, and is focused on helping businesses grow to their full potential. Warren D Harris: You know I would say it,
    and although it’s a cliche: we are certainly considered a pro-business community, and we
    take that very proudly. Virginia was founded as the Virginia Company. The colonists came to Virginia to look at
    expansion opportunities for companies. And so what was established here in Virginia
    was actually the Virginia Company. So, we’ve always had an entrepreneurial business
    approach to our laws and our business programme, with regard to supporting businesses. Our tax rate; corporate tax has not changed
    since 1972. It’s very stable, very low. Cities like Virginia Beach have established
    incentives. They’ve also established expediting the permitting
    process, giving you every opportunity to not find yourself in a position where there’s a hiccup
    in that process of growing your business. You know the landscape, in terms of priorities
    for businesses. Evaluating locations to grow and expand has
    really changed over the years. But the number one, most important aspect
    that we’ve found, from our experience working with businesses, has been a well-trained, well-skilled workforce. And we have what I would call our hidden jewel:
    and that’s the exiting military. We are very fortunate that on an annual basis,
    anywhere between 12-15,000 personnel from the military are coming out. And so for the employer, what that brings
    to you is a well-trained, well-skilled, very disciplined individual that’s had that experience,
    that you can hire and find yourself not having to spend a lot of cost on your own,
    in terms of training and bringing them up to speed. Yes, there’s training for the uniqueness of
    your company and your business. But in terms of that core competencies, you’re
    going to find that that workforce is probably key. European CEO: It’s certainly been key to IMS
    Gear Virginia, a subsidiary of the 150-year old precision engineering company, founded
    in the Black Forest in Germany. In 2000 the business started looking for a
    home in the US – and Virginia Beach stood out. Guenter Weissenseel: We were looking for a good workforce, we were looking for a good environment. We were looking to be close to our customers
    in the US. And also what’s important here: we’ve got
    a port, we get container shipments once or twice a week, where we get steel, or we ship
    out. We get from the military people who have order,
    they come on time, they are trained from the military. The local government is good. They supported us with quite a bit of grants
    that we got when we moved; giving us all the permits that we needed. The whole environment is very good. For me, I lived in several US cities, and
    Virginia Beach is so far my favourite. I mean, I like the freedom you have here,
    the closeness to the water. It’s just a nice place to be. So you can go to work, and then you can go
    out and have dinner right on the water, which is very relaxing. So, quality of life is important. But also support that you get your products in. European CEO: Of course, there are challenges
    in coming to the US: new laws and regulations to get to grips with. Doing your homework is vital. Click through to part two to find out where
    to start.

    Maritime and Shipping – the UK’s world-class ambition
    Articles, Blog

    Maritime and Shipping – the UK’s world-class ambition

    November 29, 2019


    A thriving maritime sector is
    fundamental to this government’s vision for a prosperous Britain. A vision with
    our maritime industries at the heart of our economy driving growth and
    innovation. The maritime industry contributes around 11 billion pounds a
    year to the UK economy and we employ as an industry around a quarter of a
    million people in this country. The UK marine sector is a competitor with so many parts of the cluster we have it all here we’ve got the ship managers we’ve got the ship owners we’ve got law firms accounting firms finance houses
    consultancies training providers we got a highly skilled workforce we’ve got an adaptable economic policy we’ve got stable democracy and a good rule of law so it’s
    so many good reasons to come to the UK to set up a maritime business. The
    biggest challenge i think is to stay looking long-term to look ahead to
    look at the increasing the growth in global trade and therefore the
    opportunities available for the UK to capture more of that trade whether it’s
    in the port sector or shipping or services and to invest to be prepared
    for that trade. What we’ve done recently under government leadership a maritime
    growth study was commissioned which I’ve been privileged to chair this is the first
    time for some twenty years that a major review has been made of both how government is organized in this sector and also how business promotes itself. And that’s an
    opportunity to see where we can be more competitive as a country and to contribute more to
    the economy and I mean that’s very important that we get that right. Sea trade will double by 2030 and the
    UK’s maritime and marine sectors are ready to seize the opportunities this
    creates.

    Norbert’s Gambit at TD Direct Investing | DIY Investing with Justin Bender
    Articles, Blog

    Norbert’s Gambit at TD Direct Investing | DIY Investing with Justin Bender

    November 4, 2019


    Hello, I’m Justin Bender, Portfolio Manager
    at PWL Capital in Toronto, and today I’ll be showing you how to cheaply convert your
    Canadian dollars to US dollars at TD Direct Investing, using a strategy called Norbert’s
    gambit. For this tutorial, I’ll be exchanging about
    6,000 Canadian dollars for US dollars in my RRSP account. Before getting started, please ensure that
    you have a US dollar RRSP account already set-up. If you only see a Canadian dollar account,
    call TD Direct Investing at 1-800-465-5463 and ask them to open one for you. When you’re ready to get started, click
    on the ‘Buy/Sell’ icon at the top of the screen For our first step, we’ll enter ‘DLR’
    in the ‘Symbol’ field. DLR is the Horizons US Dollar Currency ETF. The fund invests in US dollar cash equivalents,
    but can be purchased with Canadian dollars. When the fund name appears, click on it to
    generate a quote to the right. We can then select ‘Buy’ as our ‘Action’. To calculate the number of shares that we
    need to purchase, we’ll use our computer’s calculator: Taking our Canadian dollar cash of $6,000
    and subtracting the $9.99 trading commission gives us about $5,990. We’ll then divide this value by DLR’s
    current ask price of $13.27, which equals 451 shares – we can then go ahead and enter
    451 in the ‘Quantity’ field. We’ll select ‘Limit’ as our ‘Price’,
    and enter the quoted ask price, which is $13.27. After you’ve selected the ‘Remember password
    for this session’ check-box and entered your trading password, you can click on ‘Preview
    Order’. When you’re ready to confirm the order,
    click on ‘Send Order’. And to check the status of the trade, click
    on ‘Go to Order Status’ – here you’ll note that the trade has been filled. Before moving to our second step, we’ll
    need to wait until our initial trade settles, which is three business days after we placed
    the trade. As we placed the initial trade on January
    20th, 2017, we will need to wait until the trade settles on January 25th, 2017. Please note that the investment industry is
    scheduled to implement a T+2 settlement cycle, beginning September 5th, 2017 (so you will
    soon be able to complete the gambit in one less business day). For our second step, we’ll call TD Direct
    Investing at 1-800-465-5463 and ask them to transfer 451 shares of DLR from the Canadian
    dollar RRSP account to the US dollar RRSP account. When the transfer has been completed, your
    451 shares of DLR will now be showing in the US dollar RRSP account (this generally occurs
    by the end of the day or the next business day). For our final step, we will be selling 451
    shares of DLR.U. DLR.U is the exact same security as DLR. The only difference is that DLR.U is transacted
    in US dollars, while DLR is transacted in Canadian dollars. Click on the ‘Buy/Sell’ icon at the top
    of the screen, and then enter ‘DLR.U’ in the ‘Symbol’ field. When the fund name appears, click on it to
    generate a quote to the right. We can then select ‘Sell’ as our ‘Action’. We can also enter 451 in the ‘Quantity’
    field, as we will be selling the same amount of shares that we originally purchased. We’ll select ‘Limit’ as our ‘Price’,
    and then enter the quoted bid price, which is $9.94. After you’ve selected the ‘Remember password
    for this session’ check-box and entered your trading password, you can click on ‘Preview
    Order’. When you’re ready to confirm the order,
    click on ‘Send Order’. And to check the status of the trade, click
    on ‘Go to Order Status’ – you’ll note that the trade has now been filled. When you refresh the screen, you’ll find
    that your 6,000 Canadian dollars have now been converted into about 4,500 US dollars. You are now free to purchase US-listed ETFs
    with cash available in your US dollar RRSP account. If you have any questions, please feel free
    to send them to me by email: [email protected]

    Articles

    WATCH: Tech Crunch SF Disrupt 2019: Day two October 3, 2019

    October 12, 2019


    . >>>LADIES AND GENTLEMEN, PLEASE SILENCE ALL MOBILE DEVICES. THE PROGRAM IS ABOUT TO BEGIN. . >>>LADIES AND GENTLEMEN. PLEASE TAKE YOUR SEATS. THE PROGRAM IS ABOUT TO BEGIN. . >>>LADIES AND GENTLEMEN, PLEASE WELCOME, TECH CRUNCH EDITOR AND CHIEF MATTHEW. >> [APPLAUSE]. >> GOOD MORNING. I’M NOT SURE IF THIS MICROPHONE IS ON BUT I WILL TALK LOUD ENOUGH ANY WAY. WE HAVE A GREAT SHOW. YESTERDAY WAS AMAZING. THANK YOU ALL FOR SHOWING UP YESTERDAY AND BEING SUCH A GREAT AUDIENCE FOR OUR HOST OF SPEAKERS HERE AND ON THE EXTRA CRUNCH STAGE. BOTH STAGES WERE PACKED WHICH IS ALWAYS GREAT TO SEE. WE PUT A LOT OF HARD WORK INTO PROGRAMMING THESE SHOWS. IT’S REALLY GREAT WHEN YOU SHOW UP AND PARTICIPATE, DO QUESTION AND ANSWER ON THE QUESTION AND ANSWER STAGES, TALK AND LISTEN ON THE EXTRA CRUNCH STAGE. IT’S FANTASTIC. THANK YOU. TODAY WE HAVE A WONDERFUL SHOW AHEAD OF US. SAM AND GREG FROM OPEN AI WILL BE HERE TO TALK. THE ASSISTANT DIRECTOR OF CYBER SECURITY FOR DHS. YOU SHOULD BE THINKING ABOUT CYBER SECURITY AND SHE WILL HELP US TO THINK ABOUT THAT. THE CEO OF ZOLA WILL BE HERE WHICH WILL BE A FANTASTIC DISCUSSION. THE CEO OF ZUKE AND THE FORMER GOVERNOR OF MICHIGAN. WE WILL TALK ABOUT SELFDRIVING FUTURE OF THAT. THEN LATER I WILL TALK TO THE CEO OF SALES FORCE WHICH IS ALWAYS GOOD. MARK IS ALWAYS GREAT AND SHOULD BE FUN. THANK YOU VERY MUCH. WE WILL GET RIGHT INTO THE SHOW. HAVE A GOOD ONE. [APPLAUSE]. >> LADIES AND GENTLEMEN, PLEASE WELCOME, TECH CRUNCH MANAGING EDITOR AND DISRUPT MC JORDON CROOK. >> WHAT’S UP HOW WE DOING WILDLINGS, FROM GAME OF THRONES. YOU SEEN IT IN I CAN’T GET YOU EXCITED WITH GAME OF THRONES. >> BECAUSE OF THE FINALE. >> WE WILL TALK ABOUT THAT LATER. WE HAVE AN AMAZING DAY. A LOT TO SOAK UP TODAY. AS PER USUAL A COUPLE OF HOUSE KEEPING NOTES. WE ARE USING THE HASH TAG TC DISRUPT. NOTHING CHANGE FROM YESTERDAY. YOU CAN RELY ON THAT. WE WILL HAVE OTT R DOP AI SO IF YOU WANT TO SEE TRANSCRIPTS ANYTHING THAT HAPPENS ON THE MAIN STAGE CHECK THAT OUT. SHOULD BE SIMPLE TO NAVIGATE TO. I THINK WE SHOULD GET STARTED. OUR NEXT GUEST SOLD HIS COMPANY FOR THREE BILLION DOLLARS. WHO WANTS TO SELL A COMPANY FOR THREE BILLION DOLLARS. ME TOO. LET ME KNOW IF YOU HAVE ANY GOOD IDEAS. WE COULD PARTNER. WELCOME TO THE STAGE THE CHIEF DEVELOPMENT OFFICER OF JOHNSON AND JOHNSON AND THE FOUNDER AND MANAGING GENERAL PARTNER AT MITHRIL CAPITOL, AND YOUR MODERATOR. [APPLAUSE]. . >> YOU CAN GET A LITTLE MORE LIVELY THAN THAT. WE ARE TALKING ABOUT BILLION DOLLAR EXITS HERE. LET’S GIVE THEM A ROUND OF APPLAUSE. THAT’S A NICE HEFTY SUM. YEAH. WELL, IT’S GOOD STUFF. I REALLY AM EXCITED TO TALK BOTH ABOUT THE EXIT AND FRED, ABOUT YOUR NEW ROLE AT MITHRIL OR WHAT YOU ARE GOING TO BE DOING WITH THE FIRM. THERE WAS SOME BREAKING NEWS THAT HAPPENED LAST NIGHT THAT WE REPORTED AT TECH CRUNCH AROUND SOME ALLEGATIONS INVOLVING MITHRIL AND A FORMER EMPLOYEE AND I THINK WE NEED TO ADDRESS THESE BECAUSE THEY GET INTO — I THINK SOME FAIRLY SIGNIFICANT ISSUES AROUND CAPITOL MANAGEMENT, HOW MUCH FAITH YOU CAN HAVE IN EMPLOYEES, HOW YOU NEED TO VET THINGS APPROPRIATELY. SOME OF THE SIGNIFICANT ALLEGATIONS AROUND MITHRIL ITSELF. LAST MONTH IT WAS REPORTED THAT THE FBI WAS INVESTIGATING THE COMPANY AND TODAY WE REPORTED THAT YOU FILED AN INJUNCTION AGAINST A FORMER EMPLOYEE. WHAT IS GOING ON OVER THERE >> WELL IT’S AS MUCH OF ACE SURPRISE TO US AS ANYONE ELSE. WE WERE BLIND SIDED I WOULDN’T WISH IT ON ANYONE FRANKLY. THE SHORT VERSION IS THAT THERE HAVE BEEN A SERIES OF FALSE HOODS BOTH REPORTED ABOUT US IN A SET OF COMMUNICATIONS SENT TO VARIOUS PEOPLE WHO ARE BUSINESS PARTNERS AND OTHERS IN THE COMMUNITY. AT SOME POINT IT HAD TO STOP. WE TOOK THE TIME TO GATHER THE FACTS AND — THE SHORT IS WE HAVE STATED ALL OF THE FACTS WE HAVE GATHERED IN THE SUIT THAT WAS FILED YESTERDAY WHICH IS REALLY A COMPLAINT TO MAKE PUBLIC WHAT WE HAVE LEARNED AND TO STAND BY THOSE FACTS. WE HOPE THAT THIS WILL HELP PROTECT OUR COMMUNITY WHICH, AT THE END OF THE DAY, THAT FILING IS THE WORK OF SIX MONTHS OF PEOPLE IN THE COMMUNITY WHO ARE FOUNDERS, WHO ARE OUR LP’S, MEANING OUR INVESTORS, THE PEOPLE WHO PUT THEIR TRUST IN US. OUR EMPLOYEES WHO HAVE — AND FORMER EMPLOYEES WHO HAVE STEPPED UP AND HELPED US UNDERSTAND WHAT WAS HAPPENING AND SO THAT IS WHAT WE HAVE COLLECTED AND WE HOPE THAT IT’LL HELP SHED LIGHT ON THE SITUATION AND BRING A RESOLUTION TO THE SITUATION. >> AND THE ALLEGATIONS ARE THEMSELVES KIND OF THORNY. I THINK THAT ONE OF THE ISSUES IS THAT THERE ARE — THERE ARE SIGNIFICANT ISSUES THAT THESE THINGS CAN RAISE EVEN IF THEY AREN’T APPLYING TO YOU ALL. JUST THE FEW THINGS THAT — THAT PEOPLE SEEM TO BE TAKING ISSUE WITH IF ANYONE IS ACTUALLY TAKING ISSUE WITH THEM ARE THE FACT THAT THE FIRM RAISED $740 MILLION FOR ITS FUND. AS A SAN FRANCISCO BASED GROUP AND THEN RELOCATED TO AUSTIN. THAT — YOU HAVE ONLY DEPLOYED 90 MILLION OF THAT CAPITOL BY FEBRUARY THAT WAS THE REPORT, SINCE 2017 WHEN THE FUND CLOSED. THEN THAT YOU HAVE A FAMILY MEMBER WHO IS SERVING AS YOUR CHIEF FINANCIAL OFFICER AND THOSE THINGS SEEM TO BE WHAT MOST OF THE REPORTING HAS STUCK ON. ALONG WITH WEIRDLY THIS ALLEGATION THAT YOU SPEND TOO MUCH MONEY ON BOOKS WHICH SOUNDS SILLY. ISN’T IT TRUE THAT ONCE THE LP’S INVEST IN YOU AND YOU GET THAT MONEY YOU ARE THE GENERAL MANAGER OF THAT FUND >> THERE’S SEVERAL THINGS I COULD SAY ABOUT THIS. THE FIRST THING IS THERE HAVE BEEN ABSOLUTELY NO ALLEGATIONS FROM ANYONE THAT WE KNOW OF THAT HAVE BEEN SENT TO US. THAT IS THE FIRST THING I WANT TO SAY. THE SECOND THING IS THIS IS A BUSINESS OF TRUST AND IT’S A LONG TERM BUSINESS. WHEN YOU START A FUND IT IS NO DIFFERENT THAN DOING A START UP. YOU HAVE TO HAVE A FOUNDER MIND SET. IT’S NOT SOME — KIND OF THING WHERE THERE’S GOING TO BE 25 DIFFERENT IDEAS, YOU CAN BACK AND SEE WHAT HAPPENS. YOU HAVE TO HAVE A SUPER STRONG — LIKE A WORLD VIEW THAT GUIDES WHAT YOU ARE DOING. IT HAS TO BE DETERMINED. IT CAN’T BE THE SUM OF OUTCOMES. IT’S LIKE THAT DOESN’T WORK AS AN IDEA FOR ME. YOU HAVE TO HAVE A STRONG WORLD VIEW. WE WERE STARTED WITH A SUPER STRONG WORLD VIEW WHICH IS, YOU KNOW — AND MY BUSINESS PARTNERS SAY THIS BETTER THAN I HAVE WHICH IS A COMPANY IS SUCCESSFUL TO THE EXTENT THAT IT’S DIFFERENT IN VALUABLE WAYS FROM OTHER COMPANIES IN THE WORLD. IN THE SAME WAY A FUND — INVESTMENT FUND IS SUCCESSFUL TO THE EXTENT THAT IT’S DIFFERENT FROM EVERY OTHER FUND IN THE WORLD IN UNIQUE AND IMPORTANT WAYS. SO YOU HAVE TO HAVE THAT STRONG WORLD VIEW. THAT IS WHAT, YOU KNOW IN THE SAME WAY THAT WHEN WE INVESTED IN ORIS, WE WERE IN THE INVESTING TO SECOND GUESS FRED AND WE KNEW THAT. WE KNEW THAT WE HAD TO BE PARTNERS FOR THE LONG RUN WITH FRED. FRED WOULD MAKE A LOT OF CHOICES ALONG THE WAY. SOME WE LIKED, SOME WE DIDN’T LIKE AND THAT’S FINE. WE HAD THE FIND OF RELATIONSHIP WHERE WE COULD HAVE THAT CONVERSATION. IT’S EXACTLY THE SAME THING WHEN IT COMES TO FUNDS AND THEIR LP’S. THEIR MECHANISMS BY WHICH THE DECISIONS CAN WE MADE AND FRED AND THE INVESTMENT OF LP’S AND EVERY OTHER FUND IN SILICON VALLEY AND THAT’S THE WAY IT SHOULD BE. AT THE END OF THE DAY WHAT PEOPLE ARE SAYING IS — LET OF LET’S UNDER WRITE, RIGHT UP FRONT HOW YOU THINK ABOUT THINGS AND HOW, YOU KNOW, WHAT GUIDES, WHAT VALUES AND WORLD VIEW GUIDES THE CHOICES THAT YOU WILL MAKE. THEN LEAVE THOSE SPECIFIC CHOICES IN THE HANDS OF THE FOUNDER IN THE SAME WAY THAT THEY DO WITH OUR COMPANIES. YOU CAN TALK TO THAT. >> I THINK WHAT’S SO INTERESTING ABOUT THIS DEBATE IS, YOU KNOW, IN MY MIND. IT’S HARD TO UNDERSTAND THE STORY THAT YOU ARE REPORTING ON OTHER THAN YEAH IS BEING CRITICIZED FOR BEING SMART AND CAREFUL WHICH IS AN INTERESTING ALLEGATION. YOU KNOW, I DO THINK THAT, UM, IN MY MIND I HAVE WORKED A LOT OF VENTURE CAPITALISTS. THERE’S A LOT OF DIFFERENT WAYS TOINVEST OR OUTSIDE — YOU KNOW IN TECH ITSELF. ONE IS, TO, YOU KNOW, INVEST IN TEN THINGS AND HOPE ONE WORKS OUT. THE OTHER ONE IS TO BE CAREFUL. LOOK FOR DISRUPTIVE TECHNOLOGIES THAT TRULY CAN CREATE MARKETS THAT ARE — THAT ARE EXCITING, EXTRAORDINARY AND FAST GROWING. YOU KNOW, I WASN’T WITH JAY VERY LONG UNTIL WE WENT TO THE FIRST — I WAS INVITED TO THE FIRST LIMITED PARTNERS MEETING AND WHAT I SAW WAS THE BEST SMALL BUT MOST IMPRESSIVE PORTFOLIO OF INVESTMENTS I HAD SEEN WITH ANYONE AND I HAVE BEEN AROUND A WHILE. I THINK THAT IS THE STORY THAT THESE ARE SMART, THEY ARE CAREFUL. THEY TAKE TIME. AND — THEY HAVE THE OPPORTUNITY TO BE VERY BIG STORIES. >> FRED, NOW THAT YOU ARE WORKING WITH JAY, AREN’T YOU KIND OF PAID TO SAY THAT I’M KIDDING. I’M KIDDING. I THINK THAT — THE — THE DECISION WITH — THE DECISION TO SELL TO JAY AND JAY RATHER THAN TAKE THAT COMPANY PUBLIC SPEAKS TO I THINK THE WAYS IN WHICH YOU ARE MAKING THOSE KIND OF THINGS — ON WHAT IS BEST FOR ORIS AS A AND AND WHAT’S BEST FOR YOU AS AN INVESTOR. IT’S A SUCCESS. YOU WILL MAKE 740 MILLION WITH EARN OUTS OR THE FIRST FUND WILL DO THAT >> ITS GOING TO DO WELL. >> THERE IS A NUMBER BUT I DON’T REMEMBER IT RIGHT NOW. I THINK CONNIE REPORTED IT TODAY. WHY DID YOU MAKE THE DECISION TO SELL WHEN YOU COULD HAVE GONE PUBLIC YOU TOOK — YOU WERE WITH THE MOST SUCCESSFUL SORT OF MEDICAL DEVICE COMPANY OF ALL TIME. I THINK IT TRADES 8000% FROM ITS INITIAL PUBLIC OFFERING PRICE ALONG TIME AGO. IT’S A WILDLY SUCCESSFUL COMPANY. THE APPLE OF MED TECH. WHY NOT TRY TO MAKE LIGHTNING STRIKE TWICE WITH ORIS >> IT’S A GREAT QUESTION. ONE THAT — I THINK ALL OF US, YOU KNOW, MANAGEMENT AND THE BOARD STRUGGLE WITH IN THE TIME PERIOD WHERE WE MADE THAT DECISION. ONE THING I HAVE LEARNED IN MY CAREER THAT IS SUCH A DOMINANT FACTOR IN WHETHER YOU OBTAIN MODERATE SUCCESS OR GREAT SUCCESS IS QUITE FRANKLY TIMING. THE TIMING OF INTUITIVE WAS FANTASTIC IN THAT WHEN I STARTED IT — EVERYBODY THOUGHT IT WAS THE CRAZE YESEST THING THEY HAD EVER HEARD OF. A ROBOT OPERATING ON HUMANS, WHY WOULD YOU DO THAT WHICH GAVE US A LOT OF TIME TO UNDERSTAND HOW TO DO IT, AND HOW TO GAIN ACCEPTANCE FOR IT. IT WAS PAINFUL. EVERYBODY — YOU KNOW A LOT OF CRITICISM THAT — THEN TURNS INTO WHAT I CALL BE GRUDGING ACCEPTANCE THAT TURNS INTO A SLIDE — A SLIDE THAT DESCRIBES IT AS RINGING ENDORSEMENT WITH A LOT OF PEOPLE SAYING IT WAS OBVIOUS TEN YEARS AGO THIS WAS THE WAY THAT SURGERY SHOULD — SHOULD DEVELOP. THE KEY LEARNING THERE WAS WE HAVE TIME TO FIGURE IT OUT. >> YEAH. >> I CREATED — A MONOPOLY THAT HAS HUGE ADVANTAGE FROM THE STANDPOINT OF PRESENCE IN THE MARKET WITH — MARKET SHARE, A DEVELOPMENT OF THE TECHNOLOGY, DEVELOPMENT OF THE PROPERTY, THEY ARE POSITIONED TO MAKE IT VERY DIFFICULT TO HAVE ANYONE ENTER THE SPACE AND NOT STRUGGLE. YOU KNOW THERE’S — THERE’S ONE THING TO BUILD SOMETHING. THERE’S ANOTHER THING TO SELL SOMETHING AND MAKE A PROFIT. IN THE MEDICAL DEVICE BUSINESS, IT’S USUALLY THE LATTER THAT’S PRETTY HARD. HARDER THAN YOU CAN USUALLY — IF YOU GET THE SMART GUISE, SMART ENOUGH GUYS AND ENOUGH OF THEM IN A ROOM YOU CAN FIGURE OUT WHAT YOU WANT TO BUILD. TO CREATE A BUSINESS HAS A LOT TO DO WITH MARKET FORCES AND TIMING. ALTHOUGH WE ARE — WERE AND — CONTINUE TO BE HUGELY EXCITED ABOUT THE FUTURE, THE NEXT STEP IN ROBOTICS AND HEALTH CARE. AT THE END OF THE DAY WE DECIDED, J AND J IS THE PERFECT PARTNER TO LEAPFROG WHAT’S BEING DONE TODAY AND BRING IN A NEW ERA OF WHERE ROBOTICS IS USED IN HEALTH CARE AND I DON’T MEAN JUST SURGERY. I MEAN THROUGHOUT THE MEDICAL SPECIALITIES. IN DIAGNOSIS AND THERAPY. >> AND — HOW DOES WHAT YOU ARE DOING WITH J AND J INFORM THE WORK YOU WILL BE DOING WITH J AT — AT MITHRIL >> YOU KNOW — THEY ARE QUITE SEPARATE. IN A ROLE OF CHIEF DEVELOPMENT OFFICER I HAVE THE LUXURY OF — OF SEEING AND UNDERSTANDING PARTS OF HEALTH CARE AND TECHNOLOGY AND HEALTH CARE THAT IS NEXT GENERATION STUFF. SOME OF WHICH, YOU KNOW, MAY FIT. A LOT OF WHICH IS GOING TO NEED — TO GET FROM AN IDEA TO USEFUL. >> WHAT IS FRED’S ROLE >> WE HAVE BEEN PARTNERS FOR ALMOST MORE THAN FIVE YEARS, ALMOST SIX YEARS AT THIS POINT. WE STARTED HAVING CONVERSATIONS ABOUT THE FACT THAT THERE ARE TIMES LATE AT NIGHT WHEN YOU START THINKING ABOUT CRAZY IDEAS AND THERE’S A FEW PEOPLE THAT YOU CALL TO SAY WHAT DO YOU THINK OF THIS THOSE ARE THE BEST CONVERSATIONS. YOU USUALLY HAVE THOSE CALLS WITH YOUR CO FOUNDERS IF YOU ARE A START UP FOUNDER YOU HAVE IT WITH MUSES AND PEERS. FRED IS ONE OF THOSE PEOPLE. WE END UP HAVING THOSE CONVERSATIONS AND THEY ARE NEVER, YOU KNOW, WHEN HE WITH WERE INVESTED IN ORIS SOME OF THOSE CONVERSATIONS MAYBE 20, 30% WERE DIRECTLY RELEVANT TO THE COMPANY AND THEY WERE IMPORTANT, TIME SENSITIVE CONVERSATIONS. A LOT OF THOSE WERE — THAT’S WHEN YOU REALIZE THAT THERE ARE PEOPLE THAT YOU WANT TO SPEND MORE TIME WITH AND WORK WITH WHOSE JUDGMENT YOU RESPECT AND FRED HAS A VERY IMPORTANT DAY JOB. THE QUESTION WAS DO WE WANT TO SET UP SOMETHING THAT LOOKS LIKE A VENTURE TYPE ROLE. WE HAVEN’T DONE THAT AND WE HATE THIS IDEA OF FREE OPTION OR LOW COST OPTION WHEN YOU HAVE A LOW COST OPTION WITH A HIGH PAYOFF BY DEFINITION THAT’S A LOTTERY TICKET. YOU SHOULD NOT BE IN THE BUSINESS OF BUYING LOTTERY TICKETS. THE DISCUSSION WE HAD WAS WHAT ARE THE THINGS AROUND WHICH WE CAN DEVELOP SUPER HIGH CONVICTION. WE SEE A LOT — AND FRED SEES A LOT. THE QUESTION WE HAVE IS WHAT’S THE ONE THING THAT WE WOULD BOTH BE SUPER EXCITED TO WORK ON TOGETHER AND CONCENTRATE TIME AND MONEY INTO TOGETHER AS INVESTORS AND THAT IS THE ROLE. WE ARE CALLING A GROWTH PARTNER. IS HE — OBVIOUSLY NOT A FULL TIME MEMBER OF THE TEAM. THAT’S NOT THE INTENT. IT’S TO HAVE A PARTNER THAT CAN WORK WITH US. IT’S THE OPPOSITE. EXPRESSED IN — IN A FORMAL WAY WE CAN WORK TOGETHER. >> AND YOU ARE MAKING SEED INVESTMENTS AS WELL. YOU HAVE DONE A FEW DEALS. >> I HAVE BEEN DOING THAT FOR YEARS. >>AND YOU INVEST IN A COMPANY TOGETHER. A ROBOTIC DENTIST COMPANY OUT OF MIAMI >> YES. ACTUALLY — I’M PROUD TO SAY THAT FRED WAS AN INVESTOR BEFORE I WAS. MAYBE YOU CAN TALK ABOUT YOUR — WHY YOU FOUND — I CAN TALK ABOUT WHY I INVESTED. >> IT GETS TO — WHERE IS ROBOTICS TODAY AND WHERE SHOULD IT GO I HAVE HAD SOME VERY DIFFERENT EARLY EXPERIENCES, TWO DIFFERENT COMPANIES. ONE — WE TALKED ABOUT INTUITIVE. THE OTHER WAS MACO SURGICAL AND LESS WELL KNOWN. IT’S REALLY THE FIRST ROBOT THAT ENTERED ORTHOPEDICS IN A SUCCESSFUL WAY. VERY DIFFERENT KIND OF ROBOT. IT’S — IT’S ESSENTIALLY A SMART DRILL. IT KNOWS WHERE IT IS IN 3D SPACE. IT CAN DRILL BETTER THAN A SUR GEON CAN BY HOLDING A HANDHELD TOOL AND DRILLING OUT A PART OF THE BONE. SO THAT HAS BEEN VERY SUCCESSFUL. SOLD TO STRIKER AND — THEY ARE — THEY ARE SELLING LOTS AND LOTS OF ROBOTS TO DO A BETTER JOB OF DRILLING BONE. WHERE ELSE MAY THAT BE USEFUL AND — THE WHOLE IDEA OF DENTISTS AND IMPLANTS HASN’T BEEN A PARTICULARLY SUCCESSFUL BUSINESS IN THIS COUNTRY RELATIVE TO EUROPE. THEY DO A LOT MORE DENTAL IMPLANTS THAN THE UNITED STATES AND THE QUESTION IS WHY ONE OF THE ANSWERS IS THAT, YOU KNOW, YOU KIND OF HAVE TO BE AN ORA L SURGEON AND BE WILLING TO — TAKE THE TIME TO TRAIN AND UNDERSTAND HOW TO DRILL A HOLE IN THE BONE IN ORDER TO PUT IN A IMPLANT AND WHERE HAVE I SEEN THIS MOVIE BEFORE IT’S THE SAME THING. YOU GET — YOU KNOW YOU DRILL — YOU KNOW AT THE WRONG ANGLE, YOU DRILL TOO DEEP, YOU KNOW — YOU GET A BAD RESULT. IT CAN LEAD TO A LOT OF BAD THINGS DOWN THE ROAD. SO, WHETHER IT’S TAKING OUT A PROSTATE, DRILLING A HOLE IN A BONE, OR DOING SOMETHING ELSE WITH A ROBOT THERE ARE PLACES WHERE THE ROBOT IS JUST GOING TO DO A BETTER JOB THAN A HUMAN. THAT’S A GREAT PLACE TO DIG IN WITH ROBOTIC TECHNOLOGY.. >> WE HAVE MAYBE — I THINK AT THIS POINT THREE ROBOTICS COMPANIES IN THE POR TFOLIO, ONE HAS EXITED. GRAY ORANGE STARTED IN INDIA AND IT’S NOW HEADQUARTERED IN ATLANTA. SO, THE THESIS HAS TO DO WITH HUMAN MACHINES TO GET MORE EFFICIENT AND MORE UNIFORM IN OUTCOME. IF YOU HAVE THESE NORMAL OUTCOMES HOW DO YOU SHIFT IT AS FAR AS POSSIBLE TO THE RIGHT IS KIND OF AN INTERESTING QUESTION. AND THE MARKETS IN WHICH YOU CAN DO THAT TEND TO BE — LIKE VARIED. IT’S — IT’S — YOU CAN — POSITIONING AN IMPLANT FOR THE KNEE TO DOING LUNG SURGERY TO POSITIONING AN IMPLANT IN THE ORAL CAVITY OR HAVING A LIQUID KIND OF ROBOTIC MARKET PLACE AS — FOR WAREHOUSE ROBOTICS WHICH IS WHAT GRAY ORGANIZE DOES. BUILT IN AN AGENT BASED SYSTEM. SO, THIS TYPE OF THING — IT’S — WHEN PEOPLE THINK ABOUT ROBOTS THEY THINK OF MEGATRON AND THE TRANSFORMERS AND IRON MAN SUITS BUT THEY SHOW UP IN ALL OF THESE PLACE THAT ARE EVERY DAY. THAT MAKES FOR REALLY BIG ADDRESSABLE MARKETS THAT ARE — SUFFICIENTLY NARROW IN TERMS OF THE PARAMETERS THAT IT’S DOABLE FOR A START UP. IF THEY PUT THEIR MIND TO IT. IF THEY ARE COMFORTABLE WITH — ANA DISSAL LAYER OF TECHNICAL COMPLEXITY. THE PEOPLE WHO GET OBSESSED ARE NOT ALWAYS HERE. MAYBE HALF ARE FROM — IF YOU LOOK AT OUR DEAL FLOW. THE OTHER HALF ARE EVERYWHERE ELSE. THAT’S WHAT IS INTERESTING. EVEN IF THEY ARE HERE THEY ARE ON THE WRONG SIDE OF 101. >> DOES THE DEAL INDICATE HOW YOU WOULD WORK WITH MITHRIL GOING FORWARD YOU SEE THESE DEALS AND YOU WILL BE ABLE TO BRING THEM TO THE FIRM AND — ARE YOU GOING TO BE LOOKING AT ROBOTICS BROADLY OR SPECIFICALLY IN THE HEALTH CARE SPACE >> YOU KNOW — I THINK — I HAVE DONE A LOT OF INVESTING IN THINGS THAT HAVE NOTHING TO DO WITH ROBOTICS. THIS IS — MY OBJECTIVE WOULD BE — TO LOOK MORE BROADLY IN HEALTH CARE. >> BUT HEALTH CARE IS THE MANDATE. >> EVERY FOUNDER I HAVE TALKED TO, THEY WANT TO TALK TO FRED. >> WHEN YOU FIRST HAD THOSE DISCUSSIONS WERE YOU CONCERNED ABOUT THE ALLEGATIONS THAT WERE STARTING TO ARISE >> NO. >> HAVE YOU BEEN HAVING THESE CONVERSATIONS FOR A WHILE. >> I SPENT FIVE YEARS WORKING CLOSELY WITH THE J AND — HIS TEAM. I MUST TELL YOU THAT — YOU KNOW — THE REASON WHY — ONE OF THE REASONS WHY WE ARE SO SUCCESSFUL IS THAT JAY WAS ABLE TO LOOK AT THE COMPANY AND SAY, YOU KNOW, WHAT IS GOING — WHY IS IT THAT — THIS COMPANY ISN’T BEING FLOODED BY VENTURE CAPITAL AND WE WERE — I WAS ALWAYS — BEEN — ALWAYS GOOD ABOUT RAISING MONEY BUT HAVE — LIVED THROUGH THE — THE EBBS AND FLOWS OF VENTURE CAPITOL AND THEIR BELIEF OF WHAT’S HOT AND WHAT’S NOT IN HEALTH CARE, IT GOES IN AND OUT OF FAVOR IN A PRETTY PREDICTABLE FASHION. JAY WAS SMART ENOUGH TO UNDERSTAND WHERE WE WERE AT THE POINT IN TIME WHERE A LOT OF INVESTORS WERE FLEEING HEALTH CARE AND CERTAINLY MEDICAL DEVICES. THEY WERE LOOKING AT SNAP CHAT AND SAYING I CAN PUT — LESS MONEY AND MAKE — MULTIPLES OF THE RETURN I COULD MAKE IN A MEDICAL DEVICE. WHY WOULD I DO THAT IF YOU LOOK IN THE LAST 20 YEARS — I DON’T KNOW IF THEIR A FACT. I SUSPECT THERE ARE SIGNIFICANTLY LESS VENTURE FIRMS THAT ARE OF ANY SIGNIFICANCE THAT WILL STATE THAT MED TECH WAS — A SIGNIFICANT FOCUS OF THEIRS. OTHER WORDS A LOT OF THESE VENTURE FIRMS THAT — THOUGHT THEY WERE GOOD AT MEDICAL DEVICES HAVEN’T DONE WELL ENOUGH TO SURVIVE AND A LOT OF THEM ARE GONE. >> WHEN YOU — INVEST, THE RECENT INVESTMENTS YOU HAVE MADE HAVE BEEN IN SINGAPORE AND MIAMI AND NEW HAMPSHIRE, NORMALLY THERE ARE IS A MORE FOCUSED APPROACH TO WHERE THEY INVEST. IS THE FUTURE A MOREDISTR IB SPREAD OUT MODEL OR IS THAT JUST YOUR FIRM >> I THINK IT’S A MORE DISTR IB UTED MODEL. WE HAVE A CRITICAL MASS OF TALENT. IT’S HOLLYWOOD FOR SMART PEOPLE. THE TECHNOLOGIES OF SCALE. THE TECHNOLOGIES OF STARTING SUCCESSFUL START UPS THAT SUPPORT SUCCESSFUL START UPS HAVE IN A WAY COME OUT OF SILICON VALLEY — SILICON VALLEY IS A STATE OF MIND AND A CULTURE AND A WAY OF THINKING ABOUT THE FUTURE. WHY DOES IT HAVE TO BE MARRIED TO A PHYSICAL REALITY OF BEING 100-MILES WHERE WE ARE RIGHT NOW WHICH IS THE TRADITIONAL WAY TO THINK ABOUT THIS. THAT WAS THE SAME IN BOSTON WHEN ROUTE 128 WAS SUPPOSED TO BE THE PLACE WHERE THINGS HAPPEN. IF YOU THINK ABOUT HOW NETWORKS WORK THE UNDERLYING THESIS BEHIND THE 100-MILE RULE IS THAT NETWORKS ARE SPATIALLY DRIVEN. IF YOU THINK ABOUT NETWORKS. THE NETWORKS IS DECOUPLED FROM SPATIAL REALITIES. I WILL JUST MAKE SOMETHING UP. PEOPLE WHO ARE OBSESSED R OBOTIC INSECTS. ARE YOU PROBABLY MORE LIKELY TO FIND THEM ON A SUBREDITIT. SOME OF THOSE PEOPLE ARE PROBABLY HERE IN CALIFORNIA AND SOME IN AUSTRALIA. THAT’S FINE. WE — YOU DON’T KNOW WHICH ONE OF THOSE FOLK IS GOING TO HAVE THE GAME CHANGING IDEA AND SO, MY VIEW IS — YOU HAVE TO KEEP AN EVEN MIND. WHY — WHY — YOU KNOW — THERE’S — THERE’S WAYS IN WHICH YOU HAVE TO EXPLAIN TO INVESTORS WHAT YOU DO. ONE OF THE HANDICAPS IN MY INDUSTRY, WHICH IS VENTURE, IS TRYING TO EXPLAIN YOUR VIEW OF SOMETHING FOR WHICH THERE IS NO MODEL WHICH IS THE NEXT MOST INTERESTING COMPANY IN THE WORLD. ARE YOU LIKE I HAVE TO EXPLAIN TO ALL THESE PEOPLE WHAT THE FUTURE LOOKS LIKE WITHOUT SOUNDING LIKE SOME CRAZY PERSON. YOU CAN’T. >> SOUND LIKE SOME CRAZY NOSTRADAMUS PERSON. HAVE TO BE RATIONALLY CRAZY. OTHERWISE YOU HAVE THIS EFFECT OF THIS OPTIMISM AND CY — YOU HAVE THE VALUE OF DESPAIR. ARE YOU LIKE I HATE THE WORLD, EVERYBODY HATE ME, TECHNOLOGY DIE. THEN YOU STEP BACK AND SAY, OKAY, CALM DOWN. LIKE STOP TWEETING. LET’S JUST FIGURE THIS OUT. >> STOP TWEETING IS A UNIVERSAL PIECE OF ADVICE THAT EVERYBODY SHOULD TAKE. >> FIRST PRINCIPLES INVESTING HAVE YOU TO JUST SAY WHATEVER COMES AT YOU, YOU JUST TAKE AS DEFACTO POTENTIALLY VALID AND THEN YOU VALIDATE IT. IF YOU CAN’T VALIDATE IT YOU DON’T DO IT BUT THEN THAT’S WHAT YOU ARE LOOKING FOR. SO. >> FRED, IF YOU PUT ON YOUR NOSTRADAMUS HAT AND TALKED AS A CRAZIY INVESTOR PERSON, WHAT IS — THE — WHAT ARE THE MOST INTERESTING NEXT COMPANIES THAT ARE GOING TO BE BUILT IN MEDICINE >> WELL, THAT’S — A GREAT QUESTION. I WILL — I WILL — LET ME STICK TO WHAT I KNOW. I DON’T KNOW A LOT. >> IT WOULD BE THE FIRST VC TO DO BUT GO HEAD. >> YOU KNOW IF YOU JUST LOOK — I MEAN ROBOTICS. IF YOU TAKE IT — TO THE EXTREME IT’S A VERY BIG CATEGORY, DEPENDS ON WHAT YOU DEFINE AS A ROBOT. WHAT IS INTERESTING TO ME — AND JAY ALLUDED TO IT. EVERYBODY FOCUSES ON THE MECHANICAL OR — THE PART OF ROBOTICS. WHAT WILL CHANGE THE WORLD OBVIOUSLY IS THE SOFTWARE THAT DRIVES AN ELECTRIC MECHANICAL DEVICE. YOU JUST — YOU KNOW SOMETIMES WHEN I TALK ABOUT ROBOTICS I USE THE — HOW — HOW ROBOTICS CERTAINLY IN HEALTH CARE KIND OF — FROM THE STANDPOINT OF WHERE WE ARE TODAY, THEY ARE REALLY DUMB. THEY DON’T — YOU KNOW — THE DIVINCI SURGICAL SYSTEM THAT EVERYBODY THINK IS TO HIGH TECH IS A DUMB MACHINE. YOU MOVE AND IT MIMICS YOUR MOVEMENT. THAT’S REALLY ALL YOU GET. SO, THE INTELLIGENCE OF ROBOTICS, YOU KNOW, IS — GOING TO BE OBVIOUSLY WHAT CHANGES THE WORLD AND SOMETIMES I TALK ABOUT IT AND >>>SO IF YOU THINK ABOUT THAT, WHERE ARE WE GOING AND WHAT’S A GOOD MODEL FOR WHERE WE COULD GO? AND I USE THE CAR INDUSTRY BECAUSE THE AUTONOMOUS VEHICLES ARE SENSOR DRIVEN ROBOTS. RIGHT? THEY’RE PRETTY SMART. THEY CAN SEE IN DIFFERENT WAYS THAN WE DO AND MAKE DECISIONS SO THAT’S A GREAT EXAMPLE OF A ROBOT THAT’S NOW HAS HUNDREDS OF MILLIONS OF LINES OF CODE. THAT’S WHERE ROBOTICS AND HEALTHCARE IS GOING AND THAT’S REALLY EXCITING.>>THAT’S AMAZING. WE ONLY HAVE A COUPLE OF MINUTES LEFT OR A MINUTE LEFT. SO I WANT TO PUT A FINAL PIN IN THE DISCUSSION AROUND THE FIRM STUFF. DID MYTHERAL DO ANYTHING ILLEGAL?>>NO.>>WAS IT A MISTAKE — IS IT WRONG TO DEMOY CAPITAL OBSORB PLAYS, GETTING MILLIONS OF DOLLARS IN MANAGEMENT FEES WITHOUT DEPLOYING CAPITAL WHICH IS ESSENTIALLY YOUR JOB?>>ABSOLUTELY NOT. THE SHORT SANSER IS IT TAKES YEARS AND YEARS OF FIGURING OUT WHAT YOU SHOULD DO AND YEARS TO FIGURE OUT WHAT NOT TO DO SO YOU ARE BUILDING A FIRM TO MAKE GOOD CHOICES OVER TIME. EVERY INVESTMENT BE HAVE MADE OVER THE PAST YEARS WERE YEARS OF WORK. THE MOST RECENT INVESTMENT IS AN INVESTMENT THAT STARTED IN 2014. IS THAT A FUND ONE OR FUND TWO RELATIONSHIP? BOTTOM LINE IT IS YEARS OF YES AND NO AND FIGURING AND TALKING. IF YOU ARE PLAYING THE LONG GAME, YOU HAVE TO FOCUS ON THE CORE MISSION, THE VALUES THAT DRIVE THE MISSION AND EVERYTHING ELSE IS NOISE. JUST DO THAT AND IT WILL GO WELL. IT APPLIES TO FOUNDERS, START UPS, AND VENTURE CAPITAL FUNDS.>>WITH THAT SIR, I THINK WE ARE OUT OF TIME. THANK YOU SO MUCH.>>THANK YOU.>>THANK YOU. CONGRATULATIONS ON ALL OF YOU FOR MAKING IT THROUGH SECURITY. I HEAR IT IS A GAUNTLET OUT THERE. SO WE STILL HAVE PEOPLE TRICKLING IN BUT YOU ARE STILL HERE. ON THE EXTRA CRUNCH STAGE COMING UP, WE HAVE HOW TO RAISE MY FIRST DOLLARS ARE RUSS HEDDLE STN, THE COFOUNDER OF DOXEN, CHARLES HUDSON AND ANNIE CADAVY AT RED POINT VENTURES . I CAN’T IMAGINE IF THERE ARE ANY FOUNDERS WHO DOESN’T WANT TO KNOW ABOUT HOW TO RAISE YOUR FIRST DOLLARS. SO DEFINITELY CHECK THAT OUT. IN THE MEANTIME, WE HAVE GV’S MANAGING PARTNER AND CEO DAVID CRANE JOINING US ON THE STAGE AND OUR MODERATOR CONNIE LOSOEZ.>>SO DAVID, I HAVE BEEN WANTING TO INTERVIEW YOU FOR THREE YEARS SINCE YOU BECAME THE CEO OF GV. SO THANK YOU FOR DOING THIS TODAY. SO DAVID SPENT — YOU HAVE BEEN AT GOOGLE FOR 20 SOME YEARS.>>20.>>OKAY. YOU WORKED FOR A LARGE CHUNK OF THAT TIME AS THE GLOBAL HEAD OF PR. YOU KNOW EVERY REPORTER IN SILICON VALLEY. WHY DID IT TAKE YOU SO LONG TO COME OUT OF HIDING?>>I HAVEN’T BEEN IN HIDING BUT WE HAVE BEEN REALLY BUSY. WHEN YOU HAVE A SECOND ACT TO GOOGLE WHICH IS DIFFERENT FROM YOUR FIRST ACT, YOU HAVE TO STAY FOCUS. WE ARE BUILDING A LARGE SCALE VENTURE FUND WHICH THIS YEAR IS CELEBRATING THE 10th BIRTHDAY.>>INCREDIBLE. IT GOES FAST. THERE IS A LOT TO TALK ABOUT. BUT WHAT I WOULD LOVE TO DIVE INTO, ONE OF YOUR HIGH PROFILE DEALS, INVESTING IN UBER. I HEARD THAT YOU WERE THE ONE THAT WAS AGITATING TO LEAVE THIS $250 MILLION CC RUN WHICH AT THE TIME WAS A BIG DEAL. SO I WANT TO KNOW FRANKLY, AND IN HIND SIGHT THAT WAS A BRILLIANT INVESTMENT. DO YOU THINK THAT MAKES SENSE NOW FOR PUBLIC SHARE HOLDERS?>>OKAY. SO THIS IS A SPECIAL COMPANY. THIS COMPANY HAS AN UNMISTAKABLE BRAND, OPERATES IN HUNDREDS OF CITIES AROUND THE WORLD. IT HAS SCALE AND MOTOR AROUND IT THAT IS TOUCHED IN ALMOST NON IN THE CATEGORY. LONGTERM, WE ARE BULLISH AND I THINK IT IS AN INTERESTING OPPORTUNITY AND IT HAPPENS TO BE ON SALE TODAY.>>DO YOU THINK THIS COMPANY WILL BECOME PROFITABLE IN A REASONABLE TIME?>>THERE IS A TENSION OF INVESTING, BUILD DEEPER OR FOCUS ON BUSINESS FUNDAMENTALS? SUPER ATTRACTIVE BUSINESSES IN SOME CITIES OFFSET IN BUILDING MORE SECURITY, MORE INDEPENDENCE, MORE OF A MOTE INTO THE FUTURE. SO LONG VIEW, I THINK IT IS QUITE ATTRACTIVE.>>AND IT IS GETTING INTO NEW BUSINESS LINES IS INTERESTING. YOU TOLD ME THAT GV SOLD PART TO SOFT BANK LAST YEAR. THEY WANTED TO BUY A SUBSTANTIAL PART OF THE COMPANY. CAN YOU SAY HOW MUCH OF YOUR STAKE YOU SOLD?>>PROBABLY BEST NOT TO. BUT IT WAS A GREAT TRANSACTION. WORKING WITH SOFT BANK WAS QUITE PLEASANT AND I THINK THERE WERE A NUMBER OF SHARE HOLDERS THAT DID WELL.>>UBER’S LOCK HOLDER IS COMING UP QUICKLY. WILL YOU SELL THE REST OF YOUR STAKE?>>I THINK IT IS NOT CLEAR. THINGS ARE A LITTLE UNSTABLE. ABOUT IN A MONTH WE WILL HAVE A BIG DECISION TO MAKE.>>SO WHEN YOU INVESTED IN UBER IN 2013, YOU WERE INVESTING IN A DIFFERENT FOUNDER, TRAVIS CALNIC WHO OBVIOUSLY WAS PRESSURED TO RESIGN IN 2017. THIS IS A LITTLE REMINISCENT OF WHAT HAPPENED WITH ADAM NEWMAN OF WE WORK. HE HAD GROWN THE COMPANY OVER THE LAST NINE YEARS, AND PRESSURED TO RESIGN. I’M SORT OF WONDERING, WHERE WE AN AGREEMENT THAT MAYBE THE INVESTORS COULD HAVE DONE SOMETHING SOONER? THESE ARE TWO FOUNDERS WHOSE MANAGEMENT STYLES AND THE WAY THEY OPERATED THEIR COMPANIES WERE VERY WELL KNOWN. IT WASN’T A SURPRISE. WHY SUDDENLY WAS IT PROBLEMATIC AND WHY DIDN’T SOMEONE DO SOMETHING SOONER?>>WELL, PROBABLY THE BEST ADVICE, IT WOULD HAVE BEEN PRUDENT TO CURB SOME OF ADAM’S CREATIVITY SOONER. FEATURE IS A FOCUS AND IN THAT BUSINESS, I DON’T THINK THEY DISCIPLINED. BUT I WILL SAY THERE IS LITTLE SIMILAR TO BETWEEN TRAVIS AND ADAM. TRAVIS WAS INCREDIBLY INVIABLE WITH UBER AND SOMEONE WE CHASED AGGRESSIVELY TO BE INVOLVED WITH.>>SO TALK ABOUT GB UNDER DAVID CRANE. SO ONE THING THAT I NOTICED IN THE FIRM’S EARLY’S DAY, IT WOULD TALK ABOUT THE DISCRETE POOLS OF CAPITAL. ONE YEAR, WE RAISED $300 MILLION. ANOTHER YEAR WE WERE ALLOCATED $500 MILLION. IS THAT STILL THE CASE YOU ARE GIVING YEARLY ALLOCATIONS AND IF SO, WHAT ARE YOU INVESTING NOW?>>WHEN WE STARTED GB, WE HAD SEVERAL DECADES OF CAPITAL EXPERIENCE AND PICK THE GREATEST ATTRIBUTES AND DO OUR BEST TO STAY AWAY WHAT WAS NOT OPTIMIZED. YES, EACH YEAR, WE WOULD ENGAGE WITH OUR SINGLE LP ALPHABET AND FIND OUT A REASONABLE POOL OF CAPITAL TO DEPLOY EACH YEAR. SO WE STARTED WITH A $50 MILLION FUND. NOW 10 YEARS LATER, WE ARE INVESTING HUNDREDS OF MILLIONS PER YEAR.>>SO HOW MUCH HAVE YOU ALLOCATED ALTOGETHER AT THIS POINT?>>TOTAL NEARLY $5 BILLION.>>WOW. THAT’S ASTONNISHING. IT IS NOT LIKE ALPHABET NEEDS THE MONEY BUT YOU DID INVEST IN UBER, GOOD FOR YOU. YOU INVESTED IN NEST LABS WHICH GOOGLE BOUGHT FOR $3.2 BILLION SEVERAL YEARS AGO. CAN YOU TALK ABOUT YOUR RETURNS? HAVE YOU RETURNED — WHAT PERCENTAGE OF THAT MONEY HAS COME BACK TO GOOGLE?>>THIS IS A BUSINESS THAT IS MEASURED IN DECAEDZ. WE ARE TEN YEARS OLD AND WE ARE HAPPY WITH THE PERFORMANCE OF THE FUND. I WILL SAY WE ARE BACKED BY AN INVESTOR THAT HAS BRAVERY AND PUTS SHOULDER INTO THE RISK AND TELLS US TO DO SOMETHING MORE COMPLEX TEXT NIEM. IT WOULD NOT BE UNIMAGABLE TO DO THE SPACE ELEVATOR NEXT TIME. SOMETIMES THOSE BUSINESSES TAKE LONG TO RETURN BUT ALL IN ALL WE ARE HAPPY WITH WHAT WE HAVE RETURNED SO FAR.>>OKAY. ANOTHER THING I HADENED REALIZED WAS WHEN I INTERVIEWED YOUR PREDECESSOR BILL MERIT, HE SAID THAT EVERY DECISION FELL TO HIM. THERE WERE WIDE RANGING DISCUSSIONS AND EVERYONE HAS AN OPINION BUT HE SAID QUOTE, GB IS NOT A DEMOCRACY IN KNEWAY. EVERYONE KNOWS WHERE WE STAND AND WE TRY TO GIVE EACH OTHER GOOD ADVICE. SO ARE YOU THE ULTIMATE ARBITER FOR WHAT GETS FUNDED?>>I WOULD SAY MOSTLY BUT THAT SAID, THE EXCITEMENT THAT WE BRING IS PLAYING A MEANINGFUL TEAM BALL. SO IT IS NOT SO UNUSUAL GOING TO OTHER ANY SOERT SAND HILL PITCH ROOM. ENTREPRENEUR COMES IN, SPEND AN HOUR OR TWO WITH US, TAKE SOME DATA, CONSULT DATA AND A DISCUSSION WOULD ENSUE. TECHNICALLY, YEAH, I CAN COME IN AND HAVE INFLUENCE ON WHAT’S HAPPENING. BUT BECAUSE WE ARE SCALING WHAT WE ARE DOING, I TRY TO GREEN LIGHT AS MANY INVESTMENTS AS I CAN.>>HOW MANY ARE YOU GREEN LIGHTING?>>ANNUALLY I THINK TEN AND ACTIVELY, WE HAVE 300 COMPANIES AND I THINK WE HAVE DONE 600 DEALS IN 10 YEARS.>>WOW. HOW MANY PEOPLE ARE ON STAFF AT THIS POINT?>>90 PEOPLE FULL-TIME.>>AND I HAVE TO SAY YOU HAVE BEEN MORE FOCUSED IN ELEVATING WOMEN IN THE RANKS. IS THAT ACCURATE?>>ABSOLUTELY, A BIG FOCUS FOR US. WE USE A PAGE OUT OF THE GOOGLE PLAYBACK THAT SERVED THE COMPANY WELL FOR GOAL SETTING CALLED OKR’S. OBJECTIVE AND KEY RESULTS. SO WE SET SOME GOALS A COUPLE OF YEARS AGO TO MOST IMPORTANTLY, GO OUT TO THE MARKET WITH MORE FOCUS AND DO OUR BEST TO FUND A MEANINGFUL, NEW, UNDERREPRESENTED FOUNDERS. I WOULD SAY IN THE LAST 18 MONTHS, WE HAVE DEPLOYED $200 MILLION AND WE USE THE SAME FRAMEWORK TO IMPROVE THE TEAMWORK AS WELL. AND I THINK WE HAVE MADE GREAT PROGRESS THERE.>>AND I DON’T KNOW THIS OF ANY CORPORATE RUN FUNDS BUT IS THE COMMONSATION STRUCTURE THE SAME? ARE THERE MANAGEMENT FEES AND CARRIES INVOLVED?>>WE HAVE A SINGLE LB BUT WE ARE SET UP LIKE SAND FIRMS. WE HAVE A CARRY ON OUTCOMES, ALL INTERESTS ALIGNED. IT IS AN ATTRACTIVE PLACE TO DO VENTURES.>>WHEN GOOGLE FORMED THIS UNIT TEN YEARS AGO, THERE WAS A LOT OF TALK ABOUT THE DATA DRIVEN NATURE OF THE INVESTING YOU WOULD DO. CAN YOU TELL ME ABOUT THE ALGORITHMS YOU ARE RELYING ON AND HOW THEY HELP YOU IDENTIFY PROMISING COMPANIES?>>I DON’T THINK IT WOULD BE GOOGLE VENTURES WITHOUT PUTTING EMPHASIS ON THE GOOGLE PART OF THE NAME. USING DATA HAS BEEN COMMON IN OUR PRACTICE FOR YEARS. WE HAVE A TEEN OF A DOZEN TO 15 ENGINEERS THAT FOCUS ON TECHNOLOGY AND HOW THAT CAN MAKE HUMANS SMARTER. WE LOOK AT TECHNOLOGY AS AN TUBT TO ANALYZE DEALS, DISCOVER NEW OPPORTUNITIES BUT MOST IMPORTANTLY LOOK AT THE PORTFOLIO AT LARNL AND MAKE SURE WE HAVE THE RIGHT BALANCE TO DO OUR BEST TO CAPTURE INDUSTRY LEADING RETURNS.>>MORE SPECIFICALLY, WHAT ARE YOU LOOKING FOR?>>WE USE DATA IN ALL KINDS OF WAYS TO ANALYZE DEAL BY DEAL PORTFOLIO DYNAMICES, DISCOVERIES OF NEW OPPORTUNITIES.>>OKAY. HAVE YOU EVER GONE ROGUE AND DEFIED THE DATA?>>WE GO ROGUE ALL THE TIME. DATA IS THERE TO HELP BUT IT DOESN’T DICTATE WHAT WE DO IN TERMS OF INVESTMENT DECISIONS.>>WHAT ARE SOME EXAMPLES OF YOU NOT LISTENING TO THE DATA?>>AN EXAMPLE WOULD BE A COMPANY WITH TENSION WHERE THE DATA SIGNAL WILL PRESENT ITS VIEW. OTHER ATTRIBUTES MAY BE MORE IMPORTANT AND IT IS IMPORTANT TO SHOW SUPPORT WITH AN ENTREPRENEUR AND THAT’S SOMETHING WE DO.>>BUT WITH A COMPANY?>>NOTHING COMES TO MIND IN PARTICULAR. SO SPECIFIC DETAILS AT EACH COMPANY ARE HARD TO RETRIEVE.>>YOU ALSO HAVE A BIG TEAM HERE. YOU HAVE A TEAM IN EUROPE. IT SEEMS YOU ARE PREDOMINANTLY STILL DOING VENTURE IN THE U.S.. IS THAT ACCURATE?>>THAT’S CORRECT. MOST OF OUR TEAM IS IN THE U.S., SMALL TEAM IN LONDON. MOST OF THE DOLLARS WE INVEST GO INTO WHERE YOU SAY BASED COMPANIES IN A WIDE VARIETY OF SECTORS. WE DO SOME INVESTING IN EUROPE. WE DON’T IN ASIA OR LATIN AMERICA.>>THAT IS INTERESTING. THERE MAZ BEEN SO MUCH GOING ON IN ASIA. YOU TOLD ME YOU LOOKED INTO A COMPANY IN INDIA, CALLED FRESH TO HOME. HOW MUCH PERSONAL INVESTMENT ARE YOU DOING VERSUS GB AND IF THAT COMPANY WERE TO BREAK OUT, WOULD SEARGY SAY DAVID, WHY DIDN’T YOU GET INTO THAT?>>WELL, GB COULD LOOK INTO IT. BUT MARKETS WHERE WE ARE INVESTING, WE ARE HAPPY TO SUPPORT PERSONAL INTERESTS. I DO INVESTING IN CATEGORIES THAT HAVE NOTHING TO DO WITH THE MAIN LINE OF GB. I INVESTED IN A MEN’S OUTDOOR PROFESSIONAL LACROSSE LEAGUE. IT IS NOT SOMETHING THAT GB WOULD DO BUT ITS AN AREA OF PASSION FOR ME. MY KIDS PLAY LACROSSE AND A GROWING SPORT. SO WHY NOT CULTIVATE A TEAM IN ASIA?>>WE ARE TEN YEARS OLD AND WE ARE PROUD OF WHAT WE HAVE ACCOMPLISHED SO FAR BUT WE HAVE A LOT TO PROVE IN THE STATES AND SILICON VALLEY AND THE NORTHEAST. BUT WE ARE CALLED GOOGLE VENTURES AND I THINK IT IS INEVITABLE THAT WE WILL TAKE ON NEW GEOGRAPHY BUT THAT IS A FOCUS FOR TOO AND WE HAVE A LOT OF OPPORTUNITY TO FURTHER ESTABLISH OURSELVES.>>ONE OTHER QUESTION BEFORE WE ON. A COUPLE OF COMPANIES YOU HAVE FUNDED HAVE BEEN ACQUIRED BY GOOGLE, NEST LABS AND URBAN ENGINES. HOW MUCH DOES THAT FACTOR INTO YOUR DECISION MAKING, WHETHER OR NOT THIS COULD BE SOMETHING THAT ONE OF THE COMPANIES UNDER ALPHABET WOULD BE INTERESTED IN PARTNERRING WITH?>>THE SINGLE MOST IMPORTANT THING FOR GV IS FINANCIAL RETURN. IT IS CLOSE TO GOOGLE. NOT SURPRISINGLY, GOOGLE AND THE EMPLOYEES AT GV LIKE THE SAME THINGS. SO MORE THAN A DOZEN COMPANIES HAVE BEEN BOUGHT INTO GOOGLE ITSELF. WE DON’T THINK OF IT AS STRATEGIC INVESTORS. IT GOOGLE IS AT THE TABLE WHEN A TRANSACTION IS LOOMING, WE ARE MORE THAN HAPPY TO ENSURE THAT IS HAPPENING. BUT WE SELL JUST AS MANY COMPANIES TO FACEBOOK, TWITTER. FACEBOOK BOUGHT A COMPANY VERY EARLY CALLED CONTROL LABS.>>GREAT. SO LET’S TALK ABILITY BIGGER PICTURE STUFF WHILE WE HAVE YOU HERE FOR A FEW MORE MINUTES. WE TALKED ABOUT UBER AND YOU THINK UBER IS ON SALE AND AN ATTRACTIVE INVESTMENT. WE WILL SEE WHAT HAPPENS WITH THAT COMPANY. BIGGER PICTURE, ARE COMPANIES STAYING PRIVATE TOO LONG?>>NO. IT’S INTERESTING. THERE IS SO MUCH CAPITAL IN THE MARKET RIGHT NOW THAT THERE ISN’T THE BURDEN TO PUT ONE’S SELF IN A POSITION THAT IS REMARKABLY DIFFERENT FROM THE CONTROL ONE HAS WHEN IT IS PRIVATE. SO IT IS COMPANY SPECIFIC BUT IN GENERAL, THE MARKET HAS CHANGED SO MEANINGFULLY, THERE IS NOT THE PRESSURE TO SEE CAPITAL IN THE PUBLIC MARKET. YOU HAVE MANY OPTIONS TO STAY PRIVATE AND FOR MANY COMPANIES, THAT IS A GOOD THING.>>BUT IS IT GOOD FOR I GUESS AMERICANS? SO MUCH WEALTH IS BEING CREATED BEFORE THE COMPANIES GO OUT. SO ONCE THEY GO PUBLIC, THERE IS NOT A HUGE AMOUNT OF UPSIDE WITH THESE DEALS. IS THAT — TAKING YOURSELF OUT OF GV, DOES THAT RESONATE AT ALL?>>TO SOME DEGREE. ENTREPRENEURSHIP IS ONE OF THE GROWTH FACTORS IN THE ECONOMY. WE WANT TO SEE PEOPLE IN THE PUBLIC HAVE AN OPPORTUNITY TO EXPERIENCE GROWTH AND RIDE THE EVOLUTION OF THESE COMPANIES BUT AGAIN RNGS I THINK IT IS A VERY COMPANY SPECIFIC QUESTION.>>WHAT ABOUT DIRECT LISTINGS? BIG GIRLY AND MICHAEL MORRIS GATHERED 100 INVESTORS OR SO AND MAYBE YOU WERE THERE. IT’S HARD FOR ME TO IMAGINE HOW THIS IS AN APPLICABLE MODEL. I THINK EVERYONE IN THE AUDIENCE KNOWS WHAT A DIRECT LISTING IS BUT IT’S AN EVENT THAT ALLOWS COMPANIES TO GO ON PUBLIC MARKETS AND MAKE THEIR SHARES LIQUID INSTANTANEOUSLY BUT THE COMPANY IS NOT RAISING MONEY. THE THINKING IS THAT IT IS GREAT FOR COMPANIES THAT HAVE BIG BRANDS, DON’T NEED A LOT OF SUPPORT FROM INVESTMENT BANKS. WHAT DO YOU THINK?>>I THINK WE HEARD ON THIS STAGE YESTERDAY FROM THE FOUNDER OF FLACK THAT DIRECT LISTINGS ARE NOT AS CLORE AS SOME OF THE BENEFITS HAVE BEEN PRESENTED. THE COMPANY DOESN’T ALWAYS GET CAPITAL BUT I THINK THERE IS A LOT OF THINKING ON HOW TO DO A DIRECT LISTING, ENSURE THAT SHARE HOLDERS CAN GET SOME LIQUIDITY. WE WERE FORTUNATE TO BE A PART OF SLACK’S DIRECT LISTING AND IT IS GREAT NOT TO HAVE A LOCK ON DAY ONE AS AN INVESTOR.>>BUT DO YOU THINK THEY WILL PICK UP MOMENTUM OR WILL THIS STILL BE A VERY SPECIAL COMPANY THAT CAN PULL IT OFF?>>I THINK THERE IS AN OPPORTUNITY TO CONTINUE TO INNOVATE AND ADVANCE ON HOW A COMPANY WOULD FILE LIQUIDITY. DIRECT LISTINGS LOOK PROMISING. I THINK IT IS A LITTLE EARLY TO TELL.>>YOU INVESTED IN A COMPANY I’M VERY INTERESTED IN. I WILL BE MEETING JIM COLLINS, KITCHEN UNITED. A CLOUD KITCHEN COMPANY. THIS IS A HUGE TREND. I THINK THIS IS A PARTICULARLY INTERESTING COMPANY BECAUSE IT IS OPERATING IN A SPACE THAT TRAVIS SEEMS HE WANTS TO DOMINATE. HE IS MAKING BIG INVESTMENTS HERE AND ABROAD. WHY GO AGAINST HIM OR WHY JUMP INTO THE SPACE TOO?>>THAT WAS FAR FROM OUR ORIGINAL INVESTMENT. THIS IS AN INDUSTRY THAT IS EMERGING. IT HAS PROPERTIES THAT WE FIND TO BE VERY ATTRACTIVE. THE IDEA THAT A RESTAURANT BRAND CAN BE CREATED IN THE CLOUD IF YOU WILL AS OPPOSED TO IN RETAIL IS WILDLY INTERESTING TO US. THERE IS ALSO A TREMENDOUS SURPLUS OF UGLY, NOT SO USABLE FOUR WALL REAL ESTATE THAT IS LOOKING FOR A TENANT, LOOKING FOR NEW UTILIZATION MODELS. SO JIM AND HIS TEAM AT KITCHEN UNITED HAVE A LOT OF ATTRACTION HERE. WHAT WE HAVE SEEN IN THE COMTETTERS IS THERE IS MORE INTERNATIONAL THAN IN THE U.S.. BUT IT IS ABOUT THE TOP OF THE SECOND INNING, LOTS TO UNPACK AND EVOLVE HERE. BUT ONE THAT WE ARE EXCITED ABOUT THOUGH.>>GREAT. LAST QUESTION AND IT IS SORT OF A DOOZY SO I WANT YOU TO THINK THROUGH THIS. THERE IS A LOT OF TALK ABOUT REGULATING YOUR PARENT COMPANY. DO YOU THINK IT SHOULD BE BROKEN UP, REGULATED? WHAT ARE YOUR THOUGHTS ON THE WIDESPREAD ATTACKS FROM THESE AGENCIES? SO I’VE READ THE SAME FEAR AND FOCUS NEWS ARTICLES THAT YOU HAVE ABOUT THE TOPIC. I WOULD SAY I HAVE BEEN AT GOOGLE 20 YEARS. IT LIVES INSIDE MY VEINS. I’M PROUD OF WHAT THE COMPANY HAS BUILT AND PROUD TO BE A PART OF IT. FOR THE LAST TEN YEARS HAVING FOCUSED ON VENTURE CAPALIST, I’M NOT THE MOST ATHOREITATIVE EXPERT ON THOSE TYPES OF ISSUES. SO I’M GOING TO TAKE A PASS ON THAT ONE BECAUSE WHAT WE ARE FOCUSED ON IS SOMETHING TOTALLY DIFFERENT.>>CAN WE TALK ABOUT FACEBOOK? DO YOU THINK FACEBOOK SHOULD BE REGULATED?>>WE CAN IF YOU LIKE. THESE COMPANIES HAVE A LOT OF POWER AND CONTROL BUT THE SUM OF THE PIECES CAN BE VALUBLE FOR CONSUMERS AS WELL. THESE ARE COMPLICATED QUESTIONS. I THINK THESE COMPANIES WILL HAVE A LOT OF QUESTIONS TO ANSWER IN THE COMING MUPTS AND WE WILL SEE WHAT HAPPENS.>>SO WHAT’S NEXT? BASED ON YOUR DATA, WHAT DOES GV SEE AS A PROMISING AND LARGELY UNDISCOVERED AREAS OF INVESTMENT?>>I WOULD SAY THE MOST INTERESTING OPPORTUNITY THAT WE ARE ROSCUTING AS AGGRESSIVELY AS WE CAN IS WORKING ON SOME BOLD PROBLEMS AROUND THE HUMAN PODY AND IMPROVING HUMAN HEALTHCARE. OVTHE PAST TEN YEARS, WE HAVE MD’S ON OUR STAFF. TECHNICAL AND MACHINE LEARNING THAT IS FOCUSED ON RESEARCH, BIOLOGY. WE HAVE INVESTED A BILLION DOLLARS IN 100 COMPANIES FOCUSED ON SOME ASPECT OF THE HUMAN BODY. SO IF THERE IS ONE THING I’M MOST EXCITED ABOUT IS CONTINUING TO ACCELERATE WHAT WE ARE DOING THERE AND FUELLING THIS TEAM OF EXPERTS TO WORK ON HARD UNSOLVED PROBLEMS. EVEN IF WE ARE PARTIALLY SUCCESSFUL, MILLIONS OF PEOPLE CAN BENEFIT.>>GREAT. THANK YOU FOR JOINING US TODAY, DAVID.>>THANK YOU FOR HAVING ME, CONNIE.>>>ALL RIGHT. ON THE Q AND A STAGE, 10:30, MY CARD SAYS BOTH. THE CUTTING EDGE OF HEALTH TECH WITH DR. RADGEY NAJEBEY, COFOUNDER OF HEALTH, AND RACHEL HARWITS, COFOUNDER AND PRESIDENT OF CARIBOU BIO SCIENCES. CHECK IT OUT. SUBMIT YOUR QUESTIONS ON SLIDIO AND IT WILL BE GREAT. PLEASE WELCOME SAM ALTMAN AND GREG BROCKMAN AS WELL AS YOUR MODERATOR FREDERICK GRANOY. WARM WELCOME PLEASE.>>GOOD MORNING, GUYS.>>MORNING.>>MORNING.>>WE ARE GOING TO TALK ABOUT ARTIFICIAL GENERAL INTELLIGENCE. I DON’T KNOW THAT EVERYONE KNOWS WHAT THAT IS. SO GREG, WHY DON’T YOU EXPLAIN THAT TO US?>>TODAY’S ARTIFICIAL INTELLIGENCE, YOU CAN THINK OF AS TRYING TO MATCH THE FUNCTION OF INDIVIDUAL BRAIN REGIONS. SO THIS WOULD BE A SYSTEM THAT CAN UNDERSTAND AN ENTIRE DOMAIN OF STUDY, CAN UNDERSTAND MULTIPLE DOMAINS, INTEGRATE INFORMATION BETWEEN THEM AND DISCOVER NEW KNOWLEDGE, WORK WITH HUMANS TO SOLVE GLOBAL SCALE CHALLENGES THAT WE DON’T HAVE SOLUTIONS FOR.>>AND THAT’S VERY MUCH THE MISSION OF OPEN A.I. TO GET TO THAT POINT.>>NOT JUST GET THERE BUT TO MAKE SURE IT BENEFITS NOT JUST A SMALL SET OF PEOPLE BUT ALL OF HUMANITY.>>TO DO THAT, YOU FIRST SET UP A NONPROFIT ORGANIZATION. THEN YOU SWITCHED TO A FOR PROFIT BUT WITH CAPPED RETURNS FOR THE FIRST ROUND INVESTORS. WHY DID YOU DO THAT?>>THE WAY WE STARTED WITH OPENING A.I., WE WANTED THE GENERAL INTELLIGENCE TO BENEFIT EVERYONE. SO WE STARTED WITH A NONPROFIT. ONE THING WE FOUND AS WE TRIED TO BE TO BE ON THE CUTTING EDGE IS IT’S AN EXPENSIVE ENDEAVOR. YOU HAVE TO BUILD THESE MASSIVE SUPER COMPUTERS. WE NEEDED TO BE ABLE TO RAISE INVESTMENT CAPITAL. SO WE ENDED UP DESIGNING A STRUCTURE THAT IS NOT EXACTLY FOR PROFIT OR NOT FOR PROFIT. BUT WE CAN CAN TAKE INVESTMENT CAPITAL AND IF WE SUCCEED, WE ONLY OWE A FIXED RETURN FOR THE INVESTORS TO THE EMPLOYEES WHO HAVE EQUITY AND EVERYTHING ELSE IS OWNED BY THE NONPROFIT TO BENEFIT EVERYONE.>>THAT RETURN IS CAPPED AT 100X?>>THAT IS TRUE FOR THE FIRST ROUND INVESTMENT. AS WE MAKE PROGRESS, FUTURE INVESTMENTS ARE WILLING TO COME IN FOR A LOWER.>>100X IS A LOT.>>NOT FOR A START UP FOR THE FIRST ROUND. WE TRIED TO THINK ABOUT WHAT IT WOULD BE. BUT OUR GOAL IS TO HAVE RETURNS TO INVESTORS LIKE A GOOD START UP INVESTMENT BUT NOT UNPRECEDENTLY GOOD.>>AS MOVING TO THIS MODEL CHANGED HOW YOU DO YOUR RESEARCH OR BUSINESS?>>NOT AT ALL. IN SPIRIT, WE VIEW OURSELVES AS WORKING FOR THE WORLD BUT YOU HAVE TO PLAY THE FIELD. WE NEED SO MUCH CAPITAL TO DO THE WORK. WE WILL NEED MORE CAPITAL THAN ANY NONPROFIT HAS PROBABLY RAISED. SO THIS WAS A REFLECTION OF REALITY. WE PUT A YEAR’S WORTH OF WORK INTO DESIGNING A NEW STRUCTURE TO LET US KEEP OUR MISSION AND STILL BE ABLE TO SUCCEED AND GET THE CAPITAL WE NEED.>>EVEN AS A FOR PROFIT, YOU CAN WORK FOR THE WORLD?>>A CAPPED PROFIT. WE ARE AN L.L.C., NOT A STANDARD THING. WE DON’T HAVE TRADITIONAL SHARE HOLDERS. WE HAVE DOCUMENTS THAT SAY IN CLEAR WORDS AT THE TOP THAT THIS IS NOT A STANDARD INVESTMENT. WE CAN CHOOSE TO MAKE IT WORTH NOTHING AT ANY POINT. SUPER SPECULATIVE. BUT I THINK THE TECHNOLOGY WE ARE WORKING ON AS SO MUCH PROMISE THAT IF WE ARE SUCCESSFUL, IT WILL NOT BE DIFFICULT FOR US TO PROVIDE A GREAT RETURN FOR THE INVESTORS UNPRES DENTAL VALUE TO THE WORLD.>>THERE IS A BIG IF THERE. WHERE DO YOU PUT YOUR CHANCES OF BEING THE FIRST TO MAKE AGI WORK?>>WELL, IF YOU ASK A TYPICAL START UP WHAT THEIR CHAPSS ARE OF SUCCESS, YOU DON’T START BECAUSE THEY ARE CERTAIN. YOU EMBARK ON THEM BECAUSE THEY ARE IMPORTANT.>>BUT YOU HAVE A TECHNICAL CHALLENGE TO BE SOLVED, NOT JUST A SOCIAL NETWORK OUT THERE THAT MAYBE GETS USERS OR NOT.>>ABSOLUTELY. I THINK AGI, THERE HAS BEEN 60 YEARS OF DEBATE ON WHEN THIS WOULD COME. AND PEOPLE IN THE 80s AND 90s THOUGHT IT WAS JUST AROUND THE CORNER. AND IT MIGHT STILL BE JUST AROUND THE CORNER. WE CAN’T RULE THAT OUT. BUT ON THE WAY TO AGI, IT IS NOT LIKE MAKING A SNGAL BREAK THROUGH OR EITHER YOU GOT IT OR YOU DON’T. WE ARE PRODUCING THESE TECHNOLOGIES THAT ARE BECOMING MORE VALUABLE. SO IF WE TRULY SUCCEED IN THE MISSION, THAT IT CAN HELP EVERYONE, IT WILL BE ON THE ORDER OF INDUSTRIAL REVOLUTION. IF WE FAIL, WE WILL STILL HAVE AMAZING A.I. TECHNOLOGY THAT CAN BENEFIT THE WORLD.>>IT IS MAYBE WE WILL SUCCEED. MAYBE WE WON’T. WE HAVE AN ENORMOUS CHALLENGE IN FRONT OF US. BUT I WAS REFLECTING ON JANUARY 2016, OPEN A.I. STARTED IN GREG’S APARTMENT. I CAME BY A FEW DAYS AND IT WAS 8 PEOPLE SITTING AROUND A KITCHEN TABLE. I REMEMBER TALKING ABOUT WHAT WE THOUGHT WE WOULD BE CAPABLE OF OVER THE NEXT THREE YEARS. AND THAT SO BADLY UNDERSHOT WHAT 3 YEARS LATER WE WERE ACTUALLY CAPABLE OF. THAT I SUSPECT IN THE WAY THAT HUMANS ARE BAD AT ESTIMATING CURVES, WE ARE UNDERESTIMATING WHAT WE WILL ACCOMPLISH. I THINK WE HAVE TECHNOLOGY THAT LEARNS. THIS IS AN AMAZING SECRET IN THE WORLD. THAT’S WHAT MAKES HUMANS SPECIAL. WE FIGURE OUT HOW TO DO IT. THAT’S LIKE TRYING TO FIGURE OUT HOW TO GO TO THE MOON. WE ARE ABLE TO KEEP DRIVING THAT FORWARD. EVERY YEAR, I THINK THE FIELD IS DOING THINGS THAT EXPERTS SAY ARE DIFFICULT OR IMPOSSIBLE. AND IF THAT KEEPS GOING, WE WILL GET FAR.>>IS THAT WHY YOU DECIDED TO GO TO OPEN A.I.?>>YEAH. MY GENERAL STRATEGY IS IF YOU DON’T KNOW THE MOST IMPORTANT THING TO WORK ON, YOU SHOULD WORK ON MANY THINGS. I LOVE Y.C. IT WAS GREAT TO WORK ON MANY THINGS. BUT ONCE YOU IDENTIFY THE MOST IMPORTANT THING, YOU SHOULD TRY TO WORK AS HARD AS YOU CAN ON THAT. I THINK EXPECTED VALUE OF US SUCCEEDING IS BY FAR THE MOST IMPORTANT THING I CAN IMAGINE WORKING ON.>>WHAT IS THE IDEAL OUTCOME FOR OPEN A.I.?>>THE IDEAL OUTCOME IS TO SUCCEED IN THE MISSION. WHAT WE ARE TRYING TO DO IS BE AT THE CUTTING EDGE OF IMPOSSIBLE THINGS UP TO BUILDING A SYSTEM THAT CAN BE AN ARTIFICIAL INTELLIGENCE. AGAIN, IT IS ABOUT APPLYING THIS TO THE GLOBAL SCALE CHALLENGES THAT NOW SEEM LIKE THEY ARE OUT OF REACH. CLIMATE CHANGE. SO MANY ASPECTS OF THAT PROBLEM THAT ARE SUPER HARD. IF YOU THINK ABOUT SOCIETIAL PROBLEMS AND IF WE HAVE TOOLS THAT CAN WORK WITH HUMANS TO HELP US FIGURE OUT HOW TO TACKLE THAT, THAT’S WHAT WE WANT TO ACCOMPLISH.>>YOU ARE NOT DOING ANY COMMERCIAL PROJECTS YET. JUST RESEARCH. IS THAT VERY DELIBERATE?>>YES. THAT’S VERY IMPORTANT. THE WAY TO THINK ABOUT IT IS THE BEST WAY TO DO A START UP IS YOU FIND AN EXPOTHENTIAL AND WRITE IT. SO WE ARE ON THIS INSANE EXPOTHENTIAL OF A.I. POWER. IT HAS BEEN INCREASING ABOUT 5 TIMES FASTER THAN MOORE’S LAW FOR THE PAST 6 OR 7 YEARS WHICH IS AN UNPRECEDENTED AMOUNT OF PRODPRES.>>PEOPLE DON’T GET THAT. THE INTUITION BREAKS DOWN.>>SO ONE WAY TO THINK ABOUT IT IS IF YOUR PHONE BATTERY LASTED FOR ONE DAY AND YOU WAKE UP ONE DAY AND IT LASTS 800 YEARS AND FIVE MORE YEARS, IT LASTS FOR 500 MILLION YEARS. THAT’S THE KIND OF PROGRESS WE ARE SEEING ON THE COMPUTATIONAL POWER. I THINK THE MOST IMPORTANT THING IS TO ALWAYS BE AT THE CUTTING EDGE. ARE YOU SAYING IT IS A WASTE OF TIME FOR YOU TO LOCK YOURSELF INTO THE STATE OF TECHNOLOGY RIGHT NOW?>>YEAH, I THINK THAT IT IS NOT A WASTE BECAUSE THERE ARE SO MANY GOOD APPLICATIONS. ONE UPSIDE OF THIS MICROSOFT DEAL IS IT IS NOT JUST AN INVESTMENT BUT A PARTNERSHIP. WE HAVE AN ARRANGEMENT WHERE IF WE CHOOSE TO LICENSE TECHNOLOGY, THAT THEY ARE EXCITED TO COMMERCIALIZE IT AND PUT IT TO MICROSOFT PRODUCTS. THAT’S ONE WAY TO FUND THE RESEARCH AND ALSO GET BREAK THROUGHS TO MAKE IT UP TO THE WORLD.>>LET’S TALK ABOUT T THE MICROSOFT DEAL FOR A SECOND. YOU TALK A BILLION DOLLARS FROM MICROSOFT. I THINK THERE WAS CONFUSION ABOUT WHAT THAT MEANT, THE BILLION DOLLARS. CAN YOU EXPLAIN WHAT KIND OF DEAL THIS IS? IT’S NOT JUST AZURE CREDITS.>>NO, IT’S CASH. WE SPEND A LOT ON AZURE BUT IT’S CASH.>>SO WHAT IS MICROSOFT GETTING FOR THAT?>>SO AGAIN, THERE IS AN INVESTMENT SO THEY NOW HOLD SOME BUT THIS PARTNERSHIP. WE WILL BE RUNNING ALL OF OUR THINGS ON AZURE. WE ARE WORKING TOGETHER.>>EXCLUSIVELY?>>THAT’S RIGHT. WE ARE WORKING TOGETHER TO BUILD MASSIVE SUPER COMPUTERS AND PUSH FORWARD A.I. TECHNOLOGY. I THINK PEOPLE IN THE WORLD WHO USE AZURE WILL SEE THAT PLATFORM CONTINUE TO GET BETTER AND BETTER FOR DEVELOPMENT.>>IF MICROSOFT CAN COLLABORATE WITH US AND WE CAN BUILD AN AMAZING SUPER COMPUTER TO TRAIN THE MODELS ON, THAT WOULD BENEFIT US. MICROSOFT IS A GREAT PRODUCT. THAT SHOULD BENEFIT ALL AZURE CUSTOMERS.>>WHY LOCK YOURSELF INTO AZURE, THOUGH?>>IT’S LOGISTICALLY MUCH EASIER FOR US TO BE ON ONE PLATFORM. AND WE ARE INTERESTED IN PARTICULAR SUPERCOMPUTERS THAT WORK FOR OUR WORK LOADS. AND WE SORT OF TALKED TO ALL OF THE PLAYERS AND I THINK THIS IS ALREADY OFF TO A REALLY GOOD START.>>JUST HISTORICAL CONTEXT. WE HAVE USED EVERY MAJOR CLOUD AND PHYSICAL HARDWARE OVER THE COURSE OF OPEN A.I.. WE HAVE TAKEN A LOOK AT EVERYTHING OUT THERE.>>SO YOU TALKED TO ALL OF THE PLAYERS. WOULD YOU HAVE TAKEN THE SAME DEAL FROM GOOGLE?>>THE THING THAT IS PARTICULARLY GOOD ABOUT MICROSOFT IS THE DEGREE TO WHICH THEY ARE MISSION ALIGNED WITH US. IT IS HARD TO FIND A PARTNER THAT CAN REALLY SCALE WITH US ON THE CAPITAL SIDE OVER THE COMING YEARS HAVE THE CAPABILITY TO BUILD THE STRUCTURE WE NEED AND HAVE A SUPER ALIGNED VISION WITH US ON THE MISSION. AND WE ARE SUPER HAPPY TO HAVE FOUND THAT WITH MICROSOFT.>>AND I THINK IT IS EASY TO UNDERESTIMATE HOW IMPORTANT THAT IS. WE HAVE A VERY ATYPICAL MISSION. THE IDEA THAT WE MAY NEED TO SERVE THE WORLDOVER SERVING INVESTORS, THAT’S SOMETHING THAT MOST INVESTORS WILL NOT SIGN UP FOR THAT BUT CREDIT TO MICROSOFT, IT IS ALIGN TO THAT. SO THE MISSION OF MICROSOFT IS FOR IT GOOD MEW MANATEE? MEW MANATEE?>>I THINK THE THEY WANT THE INTELLIGENCE IN A WAY THAT BENEFITS THE WORLD.>>SATYA GENUINELY BELIEVES THAT A.I. WILL BE THE MOST IMPORTANT TREND FOR MICROSOFT TO GET RIGHT IN THE COMING DAYS. AND HE THINKS ABOUT IT LIKE WE DO ON DISTRIBUTING THE BENEFITS.>>YOU HAVE THE MODELS AND MONEY NOW. LET’S TALK ABOUT WHAT YOU ARE BUILDING NOW. YOU HAVE TALKED ABOUT THE MONEY. LET’S TALK ABOUT THE MULTIAGENT MODEL YOU SHOWED? MAYBE WE CAN PUT THE VIDEO ON SCREEN OF WHAT YOU SHOWED?>>WHAT WE DID WAS TRAINED SOME A.I.’S TO PLAY HIDE AND SEEK. WHAT THEY LEARNED WAS THE SEQUENCE OF STRATEGIES AND COUNTERSTRATEGIES.>>CAN WE LOOP THAT VIDEO A COUPLE OF TIMES? I THINK IT JUST WENT AWAY.>>AND SO FIRST, THEY JUST LEARNED TO HIDE IN A ROOM AND PUT BOXES IN THERE. THEN THEY LEARNED THERE WERE RAMPS THE SEEKERS COULD USE TO GET OVER THE WALLS. AND EVENTUALLY THEY FIGURED OUT HOW TO BREAK THE PHYSICS. SO THE SEEKER FINDS EARTHQUAKE CAN BREAK THE SIMULATION TO HAVE THE ULTIMATE CAT AND MOUSE TO GET TO THE BLUE GUYS IN THE CORNER. I THINK THERE IS A SECOND ONE WITH UNCONVENTIONAL STRATEGIES THAT WE DIPD KNOW ABOUT. THE SEEKERS LEARN, I CAN BOX MYSELF IN AND THE — THE HIGHERS IT BOX MYSELF IN AND THE SEEKERS LEARN TO GET INTO THE SHELTER. WE HAVE AN OPEN WORLD WHERE YOU HAVE ANLUTIONARY PROCESS. THAT IS WHAT MADE US SMART. THE QUESTION PEOPLE HAVE HAD FOR SO LONG IS CAN YOU USE IT TO MAKE A.I. SMART? AND THIS SHOWS THAT YOU CAN HAVE THEM DISCOVER STRATEGIES AND WAYS OF EXPLOITING PHYSICS IN WAYS THAT HUMANS COULDN’T HAVE I MANLENNED. THIS SHOWS WHY WE WANT TO BUILD THE SYSTEMS. WE WANT TO KEEP THE WORLD MORE OPEN AND MORE DIVERSITY OF WHAT THE THINGS CAN DO AND THEN THEY CAN DISCOVER THINGS WE DIDN’T KNOW WERE POSSIBLE.>>I THINK IN A VERY SIMPLE ENVIRONMENT, YOU CAN HAVE INCREDIBLY COMPLEX BEHAVIOR EMERGE BECAUSE AGENTS TRY TO OUTSMART EACH OTHER.>>THINKING OF HUMANS, WE DON’T HAVE LARGE BRAINS TO RUN DOWN AN ANTELOPE. WE HAVE THEM TO DEAL WITH EACH OTHER. SIMILARLY, MOST OF THE COMPLEXITY IN THE ENVIRONMENT COMES FROM THE AGENTS HAVING TO DEAL WITH EACH OTHER, INTERACT WITH EACH OTHER. I THINK THAT GIVES ME A LOT OF OPTIMISM ABOUT A PATH TO INTELLIGENCE. IF YOU IMAGINE WHAT WE SHOWED YOU ON THE 8X IMPROVEMENT HER YEAR AS THE MAULDLES GET SMARTER, I THINK YOU CAN IMAGINE ENORMOUS NEW KNOWLEDGE COMING THAT WE OURSELVES DIDN’T HAVE FROM THIS MULTIAGENT STRATEGY.>>THEY ARE EXPLOITING BASICALLY A GLITCH IN THE SET UP, IS THAT WHAT’S HAPPENING? AND THEY FIGURED OUT A WAY TO DO THAT? IS THAT A GOOD THING?>>IT’S AN INTERESTING THING. I THINK ULTIMATELY IS WHAT WE WANT ARE A.I.’S TO WORK WITH US TO SOLVE PROBLEMS WE CAN’T. WHY DO WE WANT TOOLS AT ALL? TO EXTEND WHAT HUMANS CAN DO. IT HIGH LOITS THE FACT THAT WE WILL HAVE TO THINK ABOUT AS THE SYSTEMS COME TO THE SOCIETY, YOU DON’T WANT IT TO DO A CRAZY STRATEGY THAT HAS BAD EXTURN ALTIES. SO IT IS ABOUT SAFETY AND HOW WE GET THIS TO DO WHAT WE WANT ALIGNED WITH HUMAN VALUES.>>GETTING THE SYSTEMS WHAT WE WANT, NOT WHAT WE TRY TO SAY WILL BE INCREASINGLY IMPORTANT.>>INTERESTING.>>I THINK THAT THERE ARE A LOT OF PEOPLE OUT THERE THAT THINK THIS PROBLEM IS INTRACTABLE. LIKE HOW ARE YOU SUPPOSED TO RIGHT DOWN THE REWARD FUNCTION FOR HUMANITY? HOW DO YOU RIGHT DOWN WHAT YOU WANT? AND THIS IS THE KEY INSIGHT. WE HAVE TECHNOLOGY THAT CAN LEARN WELL, ALL OF THESE PROBLEMS THAT HUMANS CANNOT SPECIFY AND WE ARE TRYING TO DO THE SAME THING WITH WHAT DO HUMANS WANT.>>SOME PEOPLE WOULD BE NERVOUS ABOUT THAT.>>TELL ME MORE ABOUT WHY.>>IN TERMS OF, YOU MAY HAVE GOOD INTENTIONS TRAINING THESE MODELS, RIGHT? SOMEONE ELSE MAY SAY THE REWARD MODEL IS VERY DIFFERENT.>>SO THIS IS — ALL OF THE THINGS WE ARE TALKING ABOUT ARE THE TECHNICAL PROBLEMS, CAPITAL, HOW TO BUILD THE COMPUTERS. THIS IS THE MOST IMPORTANT QUESTION. LET’S SAY YOU CAN SUCCEED AND BUILD SUPER POWERFUL SYSTEMS. WHAT VALUES ARE IN THERE AND WHOSE VALUES ARE THEY? WE ARE NOT VERY GOOD ON AGREEING WITH A GLOBAL VALUE SYSTEM. WE HAVE A POLICY TEAM WHOSE JOB IT IS JUST TO THINK ABOUT THIS.>>DO YOU HAVE ANY RESULTS FROM THAT? HOW DO YOU APPROACH THAT?>>I THINK THERE ARE SOME THINGS MOST OF HUMANITY AGREES ON AS VALUES. AND THERE ARE A FEW BIG SPECTRUMS AND WORLD PHILOSOPHIES. INDIVIDUALISM VERSUS COLLECTIVISM IS ONE BIG ONE. HOW WE START A PROCESS NOW, ABOUT A GLOBAL DISCUSSION ABOUT WHAT DEPLOYMENT OF ADVANCED A.I. IS GOING TO LOOK LIKE, WE HAVE TURNED OUR ATTENTION TO THAT GIVEN THE ACCELERATION OF OUR RESULTS. WE JUST PUT A TEAM ON THAT FOR THE FIRST TIME SAYING THIS SOUNDS A LITTLE PREMATURE BUT BETTER BE A LITTLE EARLY THAN A LITTLE LATE. I THINK WHAT IT COMES DOWN TO IS STEP ONE, A GLOBAL DISCUSSION WHICH HAS NOT BEEN STARTED. AS PEOPLE START TO TAKE THIS SERIOUSLY. AS THE NONTECH WORLD STEAKS IT SERIOUS LE. THE FIRST STEP IS A DISCUSSION ON WHAT WE WANT ON THE OTHER SIDE?>>AND IT’S NOT JUST A SILICON VALLEY PROBLEM. SILICON VALLEY HAS STARTED TO ISOLATE ITSELF AND THAT IS CAUSING ISSUES. FOR THE MOST POWERFUL TECHNOLOGY EVER, WE HAVE TO GET GLOBAL ENGAGEMENT.>>IN PART I’M ASKING BECAUSE YOU HAD THE OTHER RESULT, GPD2, A MODEL THAT CAN CREATE TEXT ON A PROMPT. LIKE IN AN ENGLISH CLASS. YOU DECIDED TO WITH HOLD SOME OF THE MODELS FOR A WHILE AND ROLL IT OUT IN A STAGED FASHION BECAUSE YOU THOUGHT THE MODEL WAS TOO GOOD?>>THIS IS A RESULT THAT IS FIVE YEARS OF WHERE WE THOUGHT WE WOULD GET IT. WE GENERATED THIS MODEL THAT WAS JUST TRAINED BY LOOKING AT INTERNET TEXT. YOU COULD ASK IT TO WRITE AN ESSAY ON RECYCLING. WE HAD NEVER SEEN ANYTHING LIKE IT. EVERYONE WHO LOOKED AT IT THOUGHT THE IMPLICATIONS WERE OBVIOUS BUT WE COULDN’T AGREE ON WHAT THE IMPLICATIONS WERE. SOME PEOPLE THOUGHT IT WAS BENIGN. OTHER PEOPLE THOUGHT THAT IT COULD POTENTIALLY BE USED FOR MALITIOUS PURPOSES LIKE GENERATING FAKE NEWS AT AN UNPRECEDENTED SCALE. WHEN WE STARTED THIS COMPANY, WE ALWAYS KNEW THAT NOT PUBLISHING EVERYTHING WOULD BE A PART OF THAT. WE KNEW IT WOULD BE IMPORTANT TO BE A YEAR OR TWO EARLY RATHER THAN A YEAR OR TWO LATE. WE MAY HAVE BEEN EARLY BUT WE DID A STAGE RELEASE FOR ROLLING OUT BIGGER AND BIGGER.>>WHY A STAGED RELEASE? SOME ACCUSED YOU OF IT BEING A PUBLICITY STUNT. OF SAYING OUR STUFF IS SO GOOD THAT IT IS DANGEROUS.>>WE DIDN’T STAY IT WAS DANGEROUS. WE SAID WE WERE NOT SURE. AND THIS IS A GOOD TIME FOR A PRACTICE RUN AT A MINIMUM. IT CERTAINLY GOT REPORTED AS US SAYING IT WAS TOO DANGEROUS. BUT WE DEFINITELY NEVER SAID THAT.>>FAKE NEWS? YOUR A.I. WROTE THAT. I THINK PUBLICATION NORMS DESERVE A CONVERSATION.>>I THINK THAT WORKED. WE ARE NOW AT A STAGE WHERE THERE IS AN INDUSTRY WORKING GROUP THAT IS THINKING ABOUT THE PROBLEMS AND WE HAVE SEEN VARIOUS PEOPLE REPLICATE THE MODEL AND ALSO HOLD IT BACK. IT IS NOT ABOUT GP2.>>GP20 WILL BE CAPABLE OF MISUSE.>>AND I’M GLAD WE TOOK A LOT OF THE EMOTIONS THAT PEOPLE WANTED TO POUR OUR WAY. FUNNY, THERE WAS ALSO A LOT OF SUPPORT. I SWEETED SOMETHING ABOUT THE RECYCLING THING AND I GOT A LOT OF LIKES SAYING I CAN’T BELIEVE PEOPLE ARE NOT TAKING THIS SERIOUSLY. CAN’T BELIEVE PEOPLE THINK THIS IS FUNNY. AND I LOOKED AT THAT AND THOUGHT, EXACTLY WHY WE ARE TAKING IT SERIOUSLY.>>WHEN ARE YOU GOING TO ROLL OUT THE FALL MODEL?>>IF NOTHING CRAZY HAPPENS, WITHIN THE NEXT COUPLE OF MONTHS. IF YOU LOOK AT THE RAMP, WE RELEASE A VERSION, GET A DTA AND GO FROM THERE.>>AND INTERNALLY YOU HAVE GP10 THAT YOU ARE NOT SHOWING?>>WE DO NOT COMMENT.>>ALL OF THIS WORK YOU HAVE BEEN DOING ON THE MULTIAGENT, THE GTP. IT’S ALL WITHIN THE — NOT THE AGI REALM. HOW DOES THIS WORK GET YOU THERE?>>SO THE WAY THAT WE THINK ABOUT PROGRESS, I THINK THE WAY IN SCIENCE YOU THINK ABOUT YOUR PROGRESS IS ABOUT IDEAS. IT IS A MATTER OF I CAME UP WITH THIS THEORY THAT EXPLAINS THIS PHENOMENON AND IT EXPLAINS EVERYTHING. AND I THINK WE TAKE A START UP MINDSET TO THINK OF CAPABILITY. CAN WE SOLVE THIS SUPER HARD CHALLENGE. AND DOING SO, WE THINK WILL GENERATE GENERAL PURPOSE METHODS THAT CAN BE USED ELSEWHERE. WE BEAT A MACHINE THAT BEAT IN A GAME AND POINTED AT ROBOTICS TO SOLVE A ROBOTIC HAND PROBLEM THAT NO ONE HAD BEEN ABLE TO SOLVE. SO EVERYTHING WE GENERATE STILL HAS LIMITATIONS BUT SOMEHOW THEY ARE MORE POWERFUL AND ABLE TO DO THINGS YEARS AHEAD OF WHAT WE THOUGHT WERE POSSIBLE. AS LONG AS WE ARE ON THAT RAMP, I THINK WE ARE SUCCESSFUL.>>DO YOU THINK THAT IS ENOUGH? MAKING THE CURRENT METHODS BETTER OR DO YOU NEED A NEW TECHNOLOGY AT SOME POINT?>>I THINK THERE IS ONLY ONE WAY TO FIND OUT. THE HOPE WITH DOTEA, WE WERE HOPING THE CURRENT METHOD WOULD HIT A WALL. WE WOULD PUSH IT AND IT JUST WOULDN’T DO IT. THAT IS THE CURRENT UNSOLVED CHALLENGE IN A.I. IS TRYING TO FIND A REAL TASK THAT WE CAN’T SOLVE THROUGH PUSHING THE EXISTING METHODS.>>WE HAVE TO FAIL AT SOMETHING TO KNOW WHAT TO DO NEXT. BUT IF YOU LOOK AT CAPABILITIES, STUFF LIKE DOTA, THE MULTIAGENT ROBOT, GIVEN A GOAL AND A SIMULATOR, WE CAN SOLVE THAT. GBT2, GIVEN MASSIVE INFORMATION, WE CAN SOLVE THAT. THOSE ARE TWO PRETTY POWERFUL CAPABILITY.>>GTP2 IS TERRIBLE AT MATH. ASK IT TO ADD NUMBERS, IT STARTS MAKING THINGS UP.>>BECAUSE THE DATA YOU FED IT HAS NOTHING TO DO WITH MATH?>>EXACTLY. MAYBE IF YOU FEED SOME DATA THAT HAS TO DO WITH MATH BUT MAYBE WE ARE MISSING REASONING. RIGHT NOW, WE DON’T KNOW THE ANSWER. THAT’S SOMETHING WE ARE TRYING TO DISCOVER.>>IT CAN WRITE A BOOK AT THIS POINT.>>THAT’S RIGHT. MAYBE A GOOD THING TO WRAP IT UP IS I BROUGHT ON STAGE THIS BOOK. IT WAS NOT WRITTEN BY A HUMAN. IT WAS WRITTEN BY GTP2. YOU CAN LOOK THROUGH IT. YOU CAN SEE THAT IT HAS A LOT OF NICE MECHANICS FOR THIS GAME, LOTS OF LISTS OF ITEMS. I THINK THIS SHOWS YOU WHY THESE TECHNOLOGIES ARE AMAZING TODAY. YOU CAN WORK WITH THEM IN ORDER TO BUILD ARTIFACTS OR BUILD CREATIVE THINGS THAT HUMANS WOULDN’T BE ABLE TO DO ON THEIR OWN.>>SO A.I. IS A BIT OF A NUFRP.>>TURNS OUT.>>WHAT IS THE NEXT BIG STEP YOU ARE EXPECTING TO SEE?>>CONTINUE THE RAMP. I THINK THAT REASONING IS A GOOD EXAMPLE OF A TECHNOLOGY THAT NO ONE HAS EVER SEEN. I THINK THAT GPD2 IS ON THE CUSP OF HAVING MACHINE THAT CAN TALK AND UNDERSTAND US. BUT WE ARE NOT QUITE THERE. I THINK THERE IS WORK THAT WE AND EVERYONE ELSE IN THE FIELD ARE TRYING TO DO TO GET THERE.>>ARE YOU HAPPY ABOUT YOUR MOVE?>>YES.>>GOOD. I’M HAPPY ABOUT THE INTERVIEW. THANKS, GUYS.>>THANK YOU SO MUCH.>>>SO DOES EVERYONE FEEL LIKE THEIR BRAINS ARE BIGGER NOW? NO, WE DON’T LAUGH AT YOUR JOKES, JORDAN. THANKS, LOVE YOU TOO. THANKS, GREEN SHIRT, YOU ARE MY NEW FAFB. OKAY. ON THE EXTRA CRUNCH STAGE AT 11:00, HOW TO BUILD A SECURE START UP WITHOUT SLOWING GROWTH WITH HEATHER ATKENS WITH INFOSECURITY AT GOOGLE. JENNIFER STEVENS AT IO ACTIVE AND DOUG SONG, GENERAL MANAGER AT DUO. A LOT OF FUN. THE LAST TIME THAT WE HAD OUR NEXT GUEST, HE BROUGHT A LITTLE PUPPY ON STAGE AND I WAS THINKING HOW NICE IT WOULD BE TO CUDDLE WITH A HUSKY, KIND OF LIKE THE HUSKY FROM GAME OF THRONES. YOU GUYS WATCH GAME OF THRONES? NOBODY GIVES A SHUT ABOUT WHAT I SAY UP HERE. HOW ABOUT FLYING CARS? A WARM WELCOME POLICE.>>ALL RIGHT. GAME OF THRONES DOESN’T EXCITE ANYONE BUT APPARENTLY FLYING CARS DOES. SO WE ARE IN THE RIGHT SPOT WITH THE RIGHT GROUP OF PEOPLE. SEBASTION, THANK YOU FOR COMING BACK TO DISRUPT. YOU ARE A PART OF THE DISRUPT FAMILY NOW. YOU HAVE BEEN ON STAGE MORE TIMES THAN I HAVE.>>I LOVE THIS CONFERENCE. GREAT TO SEE SUCH A GREAT AUDIENCE NOW.>>HE IS TELLING YOU TO APPLAUD. HE LOVES THE AUDIENCE.>>I SHOULD APPLAUD.>>AS JORDAN MENTIONED TWO YEARS AGO, YOU WERE ON OUR STAGE AND YOU BROUGHT A PUPPY ON STAGE. AT THAT TIME, YOU SAID THAT FLYING CARS WILL BE THE HOT NEW THING. I’VE BEEN COVERING BOLD PREDICTIONS LIKE THIS FOR A LONG TIME. HERE’S HOW IT LOOKS TO ME. A LOT OF COMPANIES ARE PURSUING FLYING CARS RIGHT NOW. BUT IT DOESN’T APPEAR WE ARE ANY CLOSER TO GETTING PEOPLE IN THESE VEHICLES. AM I WRONG ABOUT THAT?>>ANY TECHNOLOGY, SPECIFICALLY TAKES A WHILE. YOU WANT TO MAKE SURE IT IS REALLY SAFE. IT DOESN’T DETER US FROM THE VISION TO UNDERSTAND THAT IF YOU TAKE DAILY TRAFFIC FROM THE GROUND A FEW HUNDRED FEET IN THE AIR, WE COULD FREE THE WORLD FROM TRAFFIC. WE HAVE TECHNOLOGY THAT CAN GET YOU FROM HERE TO SAN JOSE IN 15 MINUTES. FROM HERE TO UC BERKELEY IN LIKE 4 MINUTES. SO NOW THE ONUS IS TO MAKE IT SAFE, WORK OUT THE DIFFICULTIES AND CHALLENGES, FIND A WAY TO OPERATE THEM SAFELY AND GET SOCIAL ACCEPTANCE AND TRY TO CHANGE THE WORLD.>>WHAT ABOUT AUTONOMOUS VEHICLES. THAT USED TO BE YOUR THING. WHAT HAPPENED WITH AUTONOMOUS VEHICLES?>>I’M NOT WORKING WITH IT MYSELF. I WOULD SAY THEY ARE ALSO AUTONOMOUS BUT HIGHER UP IN THE AIR. IF YOU GO A BIT HIGHER IN THE AIR, THEN THE DIFFICULTY OF HITTING THINGS VANISHED.>>MAYBE BUILDINGS.>>JUST GO ABOVE THE BUILDINGS AND TREES. AND THERE ARE VEHICLES THAT DO THIS, HELICOPTERS. THEY ARE INCREDIBLY NOISY AND EXPENSIVE. NAPA ILLEGALIZED PERSONAL HELICOPTER FLIGHTS BECAUSE THEY ARE TOO NOISY. SO ONE OF THE BIG QUESTIONS IS CAN WE MAKE THEM QUIET.>>SO I THINK IT IS IMPORTANT AT THIS POINT TO EXPLAIN WHAT A FLYING CAR IS AND HOW THAT IS DIFFERENT FROM A PLANE. WE LIKE TO THROW THE WORDS AROUND BUT IT IS NOT CLEAR.>>IT IS NOT A CAR. I DON’T LIKE THE WORD FLYING CAR BUT IT IS VERY CATCHY. THE TECHNICAL TERM IS EVEETAL. THEY ARE ELECTRICALLY PROPELLED VEHICLES THAT CAN TAKE OFF VERTICALLY. SO YOU DON’T NEED AN AIRPORT. THEY FLY LIKE A REGULAR PLANE.>>SO I WANT TO DO A POLL REALLY QUICKLY. HOW MANY PEOPLE THINK THAT FLYING CARS, WE DON’T LIKE THAT TERM BUT FLYING CARS WILL BE HERE IN 20 YEARS, EITHER IN SAN FRANCISCO OR? OKAY. WHAT ABOUT IN 10 YEARS? WHAT ABOUT IN 5 YEARS? FEWER HANDS BUT IS YOUR HAND UP FOR 5 YEARS?>>I HAPPILY LIFT IT FOR 5 YEARS. I’M SUPER IMPATIENT.>>THE COMPANY YOU ARE RUNNING IS ONE OF MANY FLYING CAR COMPANIES THAT HAVE EMERGED IN THE PAST FEW YEARS. I’M WONDERING WHAT KITTY HAWK IS OPTIMIZING FOR? WHAT ARE YOU GOING TO DO TO SURVIVE?>>IT IS AN OPEN MARKET. TOO EARLY TO CALL A WINNER. WE FOCUS FOREMOST ON SAFETY, NO QUESTION. SECONDLY ON NOISE. FOR THIS TO BE ACCEPTABLE, IT HAS TO BE BASICALLY IMPER CEPTABLE. IT HAS TO BE ABLE NOT TO DISRUPT YOU. I EVEN FIND DRONES WAY TOO NOISY. THEY ARE ANNOYING. I WANT TO BE SO QUIET, LIKE THE WIND.>>IT IS INTERESTING YOU BROUGHT THAT UP. KITTY HAWK HAS THREE VEHICLES. WE KNOW OF TWO. ONE IS THE FLIER AND ONE IS CORA. A WEEK AGO, I GOT A CHANCE TO SEE A SUPER PROJECT THAT YOU HAVE BEEN WORKING ON FOR A COUPLE OF YEARS THAT IS CALLED HEAVY SIDE. AND IT IS QUIET. SO TELL ME WHAT IS HEAVY SIDE? AND ONCE YOU FINISH DESCRIBING IT, I THINK WE HAVE A VIDEO TO SHOW.>>IT IS A PROJECT LED BY DAVID VANDERLAND AND IT IS A MIXTURE BETWEEN A MIXED WING AIRCRAFT AND A DRONE. IT TAKES OFF LIKE A DRONE. THE NOISE LEVEL IS LIKE A LEAF BLOWER, NOT SUPER QUIET. BUT WHEN IT IS IN FORWARD FLIGHT, IT IS SUPER QUIET AND EFFICIENT. LAST WEEK, WE WERE ABLE TO FLY IT OVER 102 MILES TOTAL WITH 100% RESERVE IN THE BATTERY. SO IT IS A PROTOTYPE TO SHOW THAT THE TECHNOLOGY IS GENERALLY FEASIBLE.>>SO DOES ANYONE WANT TO SEE IT? SHALL WE SHOW THE VIDEO? THIS IS WHAT KITTY HAWK HAS BEEN WORKING ON. SO I CAN’T SAY WHERE AS WE WAIT FOR THE VIDEO TO COME UP. I CAN’T SAY WHERE IT WAS BUT I DO KNOW IT WAS COMPLITHED FOR ME TO GET THERE. WE DID A LITTLE BIT OF A TEST. WE COMPARED THE NOISE OF A HELICOPTER TO THE HEAVY SIDE. AND ARE WE SHOWING YET? ALL RIGHT. HERE WE GO.>>PROJECT HEAVY SIDE IS KITTY HAWK’S LATEST ELECTRIC VEHICLE. IT IT IS FAST, SMALL, AND EXCEEDINGLY QUIET. HEAVY SIDE IS 100 TIMES QUIETER THAN A REGULAR HELICOPTER. INTRODUCING HEAVY SIDE. WE ARE BUILDING THE FUTURE WITHOUT ADDING IN THE NOISE. . >>>TO MEASURE. THERE WAS SOUND. >> YEAH. YOU SAW IT AT SIX FEET. WHEN IT GOES TO 1,500 FEET IT’S AS QUIET AS IT GETS. IF YOU STEP OUT IN SAN FRANCISCO THE CITY IS ABOUT 70DEC IB ELS, GOOGLE IS 50, IF YOU CLIMB MOUNT WHITNEY IT’S 40. THAT’S ROUGHLY THE NOISE LEVEL. >> WHEN ARE WE GOING TO SEE THIS WHEN WILL IT BE PUBLIC >> YOU JUST MADE IF PUBLIC THIS VERY MOMENT. >> WHEN ARE WE GOING TO BE — EITHER BUY IT OR RIDE IN IT >> THERE IS — HURDLES. THERE IS — A REGULATORY HURDLE. THE FAA IS VERY OPEN MINDED. WE HAVE TESTED IT AS A PART TIME ADVISER WHO IS A SIFTING US, NAVIGATING THIS. THE QUESTION IS WHAT WOULD HAPPEN IF THERE ARE TEN THOUSAND OF THEM IN THE AIR. HOW DO WE KEEP THE AIR SAFE WHAT WOULD PILOTS DO WHO WOULD OPERATE, TO MAKE SURE THEY DON’T BUMP INTO EACH OTHER. THEN A GENERAL QUESTION OF THE ACCEPTANCE. WE WANT THIS TECHNOLOGY TO BE FOR EVERYBODY. WE WANT IT TO BE AVAILABLE FOR EVERYBODY, NOT JUST RICH PEOPLE. IDEALLY IT WOULD BE AN AIR TAXY SERVICE WHERE YOU CALL IT BY AN APP. >> THE HEAVY SIDE JUST FITS ONE PERSON. I WAS ABLE TO SIT IN IT. SOME OF IT — THE INTERFACE WAS NOT IN THERE. I’M WONDERING HOW DO YOU REALLY MAKE THIS NOT JUST FOR THE SUPER RICH IN IT’S QUITE STUNNING. IT’S BEAUTIFUL. I’M TRYING TO IMAGINE HOW YOU GET THE COST DOWN. YOU MENTION THROUGH SOME SORT OF SHARED NETWORK. REALLY HOW ARE YOU GOING TO DO THAT WHAT WOULD THE COST POTENTIALLY BE >> YES. TODAY AND THEN TOMORROW. TODAY OBVIOUSLY THIS THING IS EXPENSIVE AND FUNDING IT WITH LARRY’S MONEY, OTHER MONEY. FROM THE COST PERSPECTIVE THERE’S THE REGAL ITSELF BECAUSE IT MAYBE A THIRD OR A QUARTER OF A CAR. IT SHOULD BE NOT MORE EXPENSIVE PER POUND THAN WHEN MASS MANUFACTURED. FROM THE ENERGY SIDE ALMOST ALL OF THE ENERGY IS BEING USED FOR DRAG AND NOT FOR LIFT. LIFT IS THIS THING THAT KEEPS YOU UP HERE. IT’S THE EXTRA PRICE YOU PAY FOR NOT BEING ON THE GROUND BUT DRAG IS THE ENERGY YOU USE TO COMBAT THE AIR BECAUSE YOU CAN GO ON A STRAIGHT LINE WE BELIEVE WE WILL BE A THIRD OF THE ENERGY COSTS PER MILE AS A TESLA. >> AS TESLA >> YES. AND IT’S VERY EFFICIENT. WHAT DO YOU SEE FOR THIS — WITH IN A CITY. LET’S SAY LIKE SAN FRANCISCO WHERE WE ARE TODAY. DO YOU SEE THIS — AS A COMMUTER VEHICLE ONLY AS A COMMUTER VEHICLE WHEREAS THE FLYER AND CORA HAVE DIFFUSE CASES >> YES. I MEAN — FROM A TECH PERSPECTIVE. RANGE, SAY 100 MILES PLUS RESERVES. LET’S SAY ABOUT TEN TIMES AS FAST AS GROUND TRANSPORTATION. THE AVERAGE CAR IS ABOUT 18 MILES AN HOUR. WE CAN GO — FROM HERE TO BERKELEY IN A FEW MINUTES. I WOULD IMAGINE THE UTILITY. HOPE ALL OF YOU WHEN YOU ARE STUCK IN TRAFFIC REMEMBER THIS LITTLE PRESENTATION THIS MORNING AND IMAGINE WHAT YOU COULD DO WITH A FLY APP A FEW FEET. HOW COOL THAT WOULD BE. THEN ANY QUESTION — HOW DO WITH YOU GET IT SAFELY INTEGRATED THR-RS WORK TO BE DONE. I WOULD LOVE TO BE ABLE TO LIKE LAND ON ANY STREET CORNER THAT. WILL BE TRICKY TODAY BECAUSE OF OVERHEAD WIRES. THERE’S SOME WORK THAT HAS TO BE DONE TO INTEGRATE IT. A HUNDRED YEARS AGO WE WERE ALL ABOUT HORSES AND THEN THE CAR, AND THEN SOMEONE INVENTED THE SCAR AND SUDDENLY I THINK NEW YORK CITY FLIP FROM ALL HORSES TO ALL CARS IN 20 TO 30 YEARS AND THEN WE BUILT PAVEED ROADS AND GAS STATIONS AND GARAGES AND SO ON. WHEN — IT’S A BETTER ABILITY TO GET OURSELVES AROUND I THINK WE WILL FIND WAYS TO USE IT. >> DO YOU SEE BEING ABLE TO WALK OUT ON THE STREET CORNER LIKE YOU SAID AND HAVE AN PP OR DO YOU SEE THIS MORE AS CENTRAL POINTS HUBS IF YOU WILL WHERE YOU GO AND THAT’S WHERE YOU PICK UP YOUR — YOU KNOW HEAVY SIDE >> WITH ALL THREE PROJECTS, WE WANT TO BUILD AN AIR TAXI SYSTEM. I BELIEVE AN AIR TAXI SYSTEM IS BETTER BECAUSE IT GETS BETTER USE PER VEHICLE. IT PAINS ME THAT I WALK ON THE STREETS OF SAN FRANCISCO AND THERE’S SO MANY PARKED CARS. WHAT A WASTE. EVEN TODAY WITH UBER AND LYF WE ARE STARTING TO USE CARS MORE EFFICIENTLY. WITH SELF-DRIVING WE CAN USE THEM MORE EFFICIENTLY. WITH FLYING CARS THERE’S NO DIFFERENT. IF YOU CAN — I BELIEVE IF YOU CAN SHARE THOSE AS AN AIR TAXI SYSTEM THE COST PER MILE CAN GO TO SOMETHING LIKE 30-CENTS A MILE EVENTUALLY. >> WHAT’S THE BIG CHALLENGE YOU MENTIONED REGULATION. IS THAT IT IS THAT THE LAST — >> IT’S A BIG ONE. THE FAA HAS BEEN TRUSTED BY CONGRESS TO MANAGE THE NATIONAL AEROSPACE. IT’S BASICALLY ANYTHING YOU CAN REACH WITH YOUR HAND. IN THE PAST THERE HAS BEEN AT MOST SIX, SEVEN, EIGHT VEHICLES IN AN AREA AT THE SAME TIME. IF YOU LOOK UP HERE WE HAVE THREE MAJOR AIRPORTS. YOU WILL SEE AT MOST TEN AIR CRAFT. NOT JUST US. AMAZON, GOOGLE COME ALONG AND SAY HOW ABOUT TEN THOUSAND IT TURNS OUT THERE’S NO TECHNOLOGY TODAY THAT COULD MANAGE TEN THOUSAND VEHICLES SAFELY YET. ACCORDING TO — TO THE STANDARDS THAT THE FAA WANTS TO SEE. WE KNOW THAT ACCIDENTS IN AVIATION ARE MORE TRAGIC THAN SOMEONE ON THE GROUND. THE TRICK WILL BE TO WORK WITH AUTHORITIES AND OTHER TECHNOLOGY COMPANIES, TO REDESIGN AND REDEFINE HOW WE MANAGE AEROSPACE. I’M HOPEFUL BECAUSE THE SKY IS EMPTY. YOU CAN LOOK UP AND THERE’S NOTHING THERE. THE ABILITIES THERE. WE HAVE THE HIGHWAYS. WE HAVE THE VOLUME. IT’S JUST A WAY — TO WORK WITH THE GOVERNMENT, WITH AUTHORITIES TO FIND WAYS TO MANAGE IT RESPONSIBLY. >> YOU MENGED THAT A FORMER FAA ADMINISTRATOR IS — WHO IS THERE FOR FIVE YEARS IS GOING TO BE ADVISING YOU. IS HE GOING TO BE DIRECTLY WORKING WITH THE FAA IN TERMS OF HELPING CRAFT RULES AROUND THIS OR UP FOR — THE INDUSTRY AS A WHOLE OR IS HIS ROLE GOING TO BE MORE ABOUT HELPING KITTY HAWK >> FOR THE TIME BEING IS HE JUST HELPING US. THERE’S A LIMITED SUPPORT HE CAN DO IF WHá HE JUST LEFT THE FAA. OVERALL WHAT I REALLY SEE IS IT’S A BROAD DIALOGUE. WE TALK TO THE FAA ALMOST DAILY. I CAN TELL YOU AT THE CORE OF THE CONVERSATION IS A 100% COMPLIANCE AND INTEREST. BOTH THE FAA AND US WANT TO BE SAFE. IT DOESN’T HELP IF IT’S UNSAFE. BOTH OF US WANT TO BE INNOVATIV. EVERY PERSON I MEET WANTS TO DRIVE THE COMPANY FORWARD. HAS A VISION FOR THE COMPANY. THE DIFFERENCE IS WE ARE TECHNOLOGISTS. WE DON’T HAVE THE SAME SKILL SET AS THE FAA WE DON’T HAVE THE SAME EXPERIENCE. AS YOU MAY HAVE HEARD WE STARTED A PARTNERSHIP WITH BOEING AND CORA SPECIFICALLY TO BRING IN AN EXPERIENCED COMPANY TO HELP US IN MAKING SAFE AND SAFELY GO TO THE MARKET. TO ME THIS IS A GREAT OPPORTUNITY FOR DIALOGUE. I HAVE DONE THE SAME FOR SELF- DRIVING CARS BEFORE. MY TEAM STARTED ALL THE LEGISLATIVE WORK IN NEVADA AND CALIFORNIA AND FLORIDA, OTHER PLACES. WE FOUND THE DMV THE CHP, ALL — INCREDIBLY FORWARD LOOKING THOUGHTFUL. THIS — WILL BE NO DIFFERENT. >> YOU MENTIONED AIR TRAFFIC CONTROL AND I’M WONDERING WHAT SORT OF INNOVATION IS THAT SOMETHING MORE AUTOMATED BECAUSE THERE IS PRESSURE ON THE PEOPLE WHO DO AIR TRAFFIC CONTROL. >> YEAH. I’M A PILOT MYSELF. I WOULD SAY — THE INTERACTIVE — IS BERSOME. THERE’S WAYS TO AUTOMATIC MATE THINGS. WHEN YOU THINK ABOUT FLIGHT OF THE FUTURE. ONE OF THE NICE THINGS IS WE CAN INSTRUMENT EVERY FLYING VEHICLE WITH A TRANSPONDER. WE CAN’T DO THE SAME ON THE GROUND. WE CAN’T INSTRUMENT EVERY CAT AND DOG WITH A TRANSPONDER. IN THE AIR WE CAN DO THIS. WE CAN HAVE A SITUATION WE KNOW WHERE EVERYBODY IS. AND WHERE EVERYBODY IS GOING. THAT’S A TECHNOLOGY THAT IS — DOABLE. WE HAVE MULTIBILLIONS OF CELL PHONES THAT REPORT WHERE THEY ARE. WE KNOW WHERE THE CELL PHONES ARE. IT’S NOT THAT HARD TO IMAGINE. ONCE THAT HAPPENS, I WOULD — BELIEVE THAT AVIATIONO BE AUTOMATED. YOU DON’T WANT TO FLY MANUALLY. YOU WANT TO BE FLOWN. THE TECHNOLOGY IS — SO MUCH EASIER THAN FOR SELF-DRIVING CARS. I BELIEVE YOU WILL BE DONE WITH SELFFLYING VEHICLES LONG BEFORE WE ARE DONE WITH SELFFLYING CARS. >> OKAY. THAT’S A BOLD PREDICTION. WE WILL HAVE TO RESIST THAT ONE IN A COUPLE OF YEARS. >> TWO YEARS FROM NOW. INVITE ME. >> WHEN DO YOU DAY THAT WILL BE ACHIEVED, NOT JUST KITTY HAWK BUT BEING ABLE TO ACHIEVE WHAT YOU JUST LAID OUT >> I THINK THAT — THE BEST PROGRESS WE HAVE SEEN SO FAR IS ACTUALLY IN THE COUNTRY OF NEW ZEALAND WHERE WE HAVE BEEN WORKING WHERE THE REGULATORS HAVE PUT FORWARD A SPECIFIC PATH TOWARD REMOTELY PILOTED AIR TAXI SYSTEMS. FIRST FOR RECREATION AND THEN FOR — THREE TO FIVE YEARS. THERE IS A SPECIFIC PATH OF THE — THAT ARE NOW LAID OUT WHICH REALLY HELPS. IN THE UNITED STATES, MANY COMPANIES ARE TALKING TO THE FAA. THERE’S A LOT OF INTEREST. WE AREN’T QUITE AS ADVANCED. THEN THE UNITED STATES IS MUCH BIGGER. >> ONE THING YOU WERE TALKING ABOUT EARLIER WAS HOW YOU SEE ALL PARKED CARS AND — THAT’S SORT OF A WASTE AND YOU LOOK UP IN THE SKY AND THERE’S ALL THIS OPPORTUNITY. AREN’T WE GOING TO BE TAKING — IF YOU ARE SUCCESSFUL AND OTHER COMPANIES ARE SUCCESSFUL. AREN’T WE TAKING THE CONGESTION THAT WE HAVE ON THE STREET AND LIFTING IT UP INTO THE SKY >> THAT’S WHERE THE COOL STUFF IS. 1D VERSES 3D. ON 101 YOU HAVE FOUR LANE AND IF YOU WANT EIGHT LANES THAT’S 100 MILLION-DOLLAR EFFORT A MILE OR SOMETHING LIKE THIS IN THE SKY, IF YOU WANT TO ADD 100 VERTICAL LANES, THAT’S A SOFTWARE FIX. YOU RECOMPILE. ON THE GROUND IF TWO CARS APPROACH AN INTERSECTION, ONE HAS TO STOP. CALLED A STOPSIGN OR TRAFFIC LIGHT. IN THE SKY YOU CAN JUST DO THAT. THE — THE VOLUME OF 3D IS SO MUCH BIGGER EVEN IF ALL OF US WERE IN THE SKY ALL THE TIME. NOW ADD TO THIS THE FOLLOWING. WITH HEAVY SIDE, WITH THE HEAVY SIDE PROJECT WE ARE TEN TIMES AS FAST WHICH MEANS YOUR TIME IN THE SKY WOULD BE A TENTH OF WHAT IT IS ON THE GROUND. IF TODAY YOU COULD FIND 90% OF THE CARS AWAY THERE WOULDN’T BE CONGESTION. TO ME, FROM THE MATH PERSPECTIVE THIS IS A VERY SOLVABLE PROBLEM. >> BUT IT’LL CHANGE THE SKYLINES. SAN FRANCISCO WILL LOOK COMPLETELY DIFFERENT THAN IT’S EVER LOOKED BEFORE. >> YEAH AND HOW COOL WOULD THAT BE IF YOU CAN JUST HOP INTO SOMETHING AND FLY OVER TO BERKELEY OR TO THE AIRPORT IN TWO MINUTES INSTEAD OF BEING STUCK IN TRAFFIC WOULDN’T THAT BE COOL WE BELIEVE THE AMERICAN — TYPICAL AMERICAN WORKER COMMUTES FOR 238 HOURS OR SO A YEAR. IF YOU CAN GET THIS TO 23 HOURS WOULDN’T THAT BE COOL GIVE YOU BACK 200 HOURS OF COMMUTE TIME. >> YOU THINK PEOPLE ARE WILLING TO GIVE UP MAYBE HOW THEY SEE THEIR CITIES TODAY FOR — AND THEN REPLACE IT WITH — MAYBE FILLING WITH A LOT OF HEAVY SIDES. >> YEAH. IF THAT COULD GIVE YOU — VEHICLE FOR THE SAME COST OF A CAR THAT GIVES YOU AROUND TEN TIMES AS FAST. YOU CAN LOOK DOWN. IT’S SAFE. WHO WOULD USE IT OKAY. WHO WOULD NOT USE IT ONE. >> I SEE ONE HAND. >> GOOD. WISE MAN. GOOD, MAYBE YOU WALK TO WORK. >> ALL RIGHT. WE ARE OUT OF TIME BUT I HAVE ONE QUESTION FOR YOU. SO YOU ARE OFTEN ON THE CUTTING EDGE OF TECHNOLOGY AND YOU HAVE — YOU HAVE BEEN A PART OF X AND GOOGLE SELF-DRIVING PROJECT AND KITTY HAWK IN FACT HAS BEEN — IS BACKED BY GOOGLE CO FOUNDER LARRY PAIGE. I’M WONDERING, WHEN YOU GET TOGETHER, AND YOU BRAIN STORM, WHAT DO YOU DREAM OF BUILDING OR SOLVING THAT YOU HAVEN’T ALREADY >> SO RIGHT NOW I CAN TELL YOU I’M 100% COMMITTED TO MAKING THE FLYING CAR A REALITY. I THINK IT’S GOING TO BE NOT JUST A MASSIVE BUSINESS BUT A MASSIVE BENEFIT TO SOCIETY TO GET AROUND MUCH FASTER. I HAVE NO PLANS PAST THIS TO BE HONEST. >> TWO YEARS NOW WHEN YOU ARE BACK ON STAGE WE WILL TALK ABOUT FLYING CARS, MAKE WE WILL HAVE ONE. >> ABSOLUTELY. THANK YOU. >> THANK YOU. [APPLAUSE]. . >> AWESOME. >>>MORE MOBILITY FOR THE FOLKS THAT LIKE MOBILITY. ANYONE RIDEN A SCOOT MERIT PAST FEW WEEKS IN ANYONE GOTTEN HURT ON A SCOOT MERIT PAST FEW WEEKS OKAY. RISK ADVERSE BUNCH. WELCOME TO THE STAGE THE FOUNDER CEO OF BYRD, TRAVIS STAND . >> LOCK THAT UP. ALL RIGHT. THAT WAS PRETTY SEAMLESS. >> YEAH. >> LITTLE NERVOUS BACKSTAGE. THEY ARE WERE BUT GOT IT ALL WORKED OUT. THE TITLE OF THIS SESSION IS I SCOOTED IN AND YOU HAVE JUST ANNOUNCED A SERIES D ROUND OF FUNDING AT A — WHAT I HAVE HEARD AT A $2.5 BILLION VALUATION. CO LET BY SEQUOIA ASK A 2.5 BILLION PREMONEY VALUATION. WE ARE PROUD OF THE TEAM. WE ARE PROUD OF THE TEAM. ABOUT 12 MONTHS AGO WE PIVOTED THE COMPANY FROM A GROWTH AT ALL COST COMPANY IN A LOT OF WAYS AND SPENT THE LAST YEAR FOCUSING ON THE UNIT ECONOMICS OF THE BUSINESS. WE ARE PROUD OF TEAM AND THINK THIS ROUND IS REALLY A TESTMENT TO — ALL THAT HARD WORKWORE. IT WASN’T AN EASY TRANSITION. THE WORLD IS CHANGING A TECH INVESTMENT STANDPOINT. WE ARE FORTUNATE TO HAVE RAISED THE ROUND FROM GREAT INVESTORS. >> YOU KNOW ECONOMICS HAS BEEN — A MAJOR ELEMENT OF THE SHARED ELECTRIC SCOOTER INDUSTRY. WHAT — IS UNIT ECONOMY I CANS MEAN TO YOU AND IS — IS BYRD, DOES IT HAVE — POSITIVE ECONOMICS >> YEAH. I KNOW THERE’S A LOT OF DIFFERENT DEFINITIONS OF THAT. I DO THINK THAT ITS TECH COMPANIES HAVE LOOKED AT THE TOP LINE AND REVENUE. I THINK THAT’S WHAT EVERYBODY CAN COMPARE APPLES TO APPLES. IT TENDS TO BE FUZZY AND THERE’S A LOT OF GRAY AREA. WE TRY TO TAKE A PUNITIVE VIEW AND THAT’S FULLY LOADED COST PER RIDE INCLUDING THE DEPRESSION OF THE VEHICLE WHICH IS ONE OF THE BIGGER COSTS FOR US. WE ARE JUST — FOR THE LAST YEAR WE HAVE BEEN LASER FOCUSED ON OPTIMIZING AND BEING POSITIVE ON THE ECONOMIES. WE ARE POSITIVE ON EVERY RIDE NOW ACROSS THE GLOBE AND SO WE ARE VERY EXCITED ABOUT THAT. >> AND SO THAT IS ON EVERY RIDE INCLUDING, INCLUDING THE ONES FROM THE THIRD PARTY SCOOTER PROVIDERS. >> JUST ON THE CUSTOM OR THE ONES YOU HAVE MADE >> ON BYRD WE ARE DIFFERENT AND HE WITH CAN TALK ABOUT THAT BUT IT’S — BASICALLY YOU KNOW OUR WAY TO HELP TAKE THE MISSION TO THE WORLD. WE RECOGNIZE THAT WE DON’T KNOW EVERY CITY AND EVERY PART OF THE WORLD. WE DON’T HAVE THE CAPITOL TO GO TO EVERY CITY. WE HAVE REALLY PARTNERED WITH LOCAL ITS TO TAKE IT INTO A LOT OF THE THESE LOCAL MARKETS AND THE ECONOMICS ARE DIFFERENT. IT LOOKS AND FEELS LIKE A SASS BUSINESS. WE DON’T HAVE THE OUTLAY AND WE ACTUALLY JUST TAKE A REV SHARON EVE RIDE THAT HAPPENS. THEY ARE QUITE GOOD. A LOT OF THE LONGER TAIL CITIES THERE’S NOT A LOT OF COMPETITION. >> AND JULY — YOU HAD TWEETED THAT YOU HAVE POSITIVE ECONOMIES ACROSS ITS CUSTOM SCOOTER MODEL. NOW ARE YOU SAYING THAT — ACROSS ALL OF THE MODELS ARE YOU SEEING POSITIVE ECONOMICS. >> YES. EARLY IN THE SUMMERTIME WE WERE ABOUT 80% OF THE RIDES WERE ON THE CUSTOM DESIGNED SCOOTERS. NOW WE ARE — I THINK ITS LIKE IN THE 99% PLUS RANGE OF ALL RIDES ARE ON THE DESIGN. WE PHASED OTT ALL OF THE OLD RETAIL SCOOTERS WHICH WE ARE EXCITED ABOUT. WE STARTED THE BUSINESS. NOBODY WAS MANUFACTURING RUGGED ELECTRIC SCOOTERS. I — WHEN I FIRST STARTED THE THE COMPANY I CAN’T KNOW ANYONE RIDING THEM. WE WOULD IMPORT THE SCOOTERS, THE RETAIL SCOOTERS FROM OVERSEAS AND THEY WERE GREAT TO PROVE OUTFIT BUT THEY ARE FRAGILE AND THE ECONOMICS BECAME BETTER. >> YEAH. I THINK THAT — A LOT OF PEOPLE HAVE WONDERED JUST — IN REGARDS TO SCOOTERS LIKE — IS VENTURE CAPITOL JUST SUBSIDIZING THE BUSINESS >> I THINK THAT — THAT’S PART OF THE DISCONNECT WE HAVE SEEN IN THE CATEGORY. A LOT OF FOLKS, YOU KNOW LOOK AT — AT THE ECONOMIES OF THE RETAIL SCOOTERS AND WE KNEW THEY WOULDN’T BE GOOD AND THEY WERE NEGATIVE ON THE ECONOMIES. THE OLD RETAIL SCOOTERS LASTED ABOUT THREE MONTHS ON AVERAGE. WE HAVE BEEN HARD AT WORK AT DESIGNS OUR OWN HARDWARE. THE ONE AND THEN THE TWO WHICH IS NOW ROLLING OUT IN LA. THE ONE ARE LASTING ABOUT 15 MOSS ON AVERAGE AND — SO, YOU KNOW — THE DIFFERENCE IN THE ECONOMIES IS FANTASTIC WHEN YOU COME OUT WITH BETTER HARDWARE AND YOU GET BETTER AT OPERATING. SO TODAY WE ARE EXCITED THAT THEY ARE POSITIVE. NOW WE CERTAINLY HAVE A LOT OF WORK TO DO ON OPX AS THE NEXT STEP. WE ARE NOT FULLY LOADED PROFITABLE YET BUT WE ARE AT THE RIDE LEVEL AND THE CITY LEVEL. >> WE TALKED ABOUT THIS BACKSTAGE. WE WORK — AND ALL OF THESE COMPANIES THAT ARE NOW — EITHER LOOKING TO GO PUBLIC AND THEN MAYBE PULLING BACK. EITHER — AND MAYBE THE NEED TO RAISE MORE FUNDING OR NOT RAISE MORE FUNDING AT THIS POINT. >> YEAH. LOOK. I THINK THAT — I THINK IT’S ONE OF THE REASONS I’M GLAD THAT WE ARE — FORTUNATE TO HAVE A BOARD LAST YEAR. A LOT OF SMART ADVISORS THAT SAY NOW IS THE TIME TO SHIFT AND — WE REALLY MADE HA SHIFT EARLY IN THE COMPANY’S LIFE SICKLE. HE HAD BEEN OPERATING 15 MONTHS BY THE 250EU78 WE WENT ALL IN ON GROWTH TO ALL IN ON ECONOMIES. FAST TRANSITION. THAT WAS A DIFFICULT TRANSITION. WE WERE STILL YOUNG AS A COMPANY. YOU KNOW IT WAS — IT WAS ACHIEVABLE. I THINK THE LONGER YOU WAIT TO MAKE THAT TRANSITION THE HARDER IT BECOMES. I THINK YOU ARE SEEING THAT WITH SOME OF THE COMPANIES THAT HAVE STAYED PRIVATE FOR YEARS AND AT THAT POINT IT’S DIFFICULT TO STEER THE SHIP TOWARD PROFIT AND WE WANTED TO START THAT EARLY IN THE LIFE CYCLE. >> DID YOU MAKE THAT SHIFT FROM GROWTH TO FOCUSING ON UNIT ECONOMICS EARLIER THAN YOU THOUGHT >> WE DID MAKE IT EARLIER. I CAME FROM THE RIDE SHARING WORLD AND I SAID THAT WAS A DIFFERENT WORLD. WHICH HAD A LOT OF OUR BOARD MEMBERS WHO WERE SMART FOLK THAT HAVE SEEN A LOT OF DIFFERENT INDUSTRIES SAYING LAST WINTER WE GOT A SHIFT. WE HAVE TO GO ON UNIT ECONOMICS AND WE HAD A FEELING THE WORLD WOULD CHANGE THIS YEAR. WE — IT’S DIFFERENT IN THAT REGARD. I THINK THAT — YOU KNOW BECAUSE OF — BECAUSE THE TECH INVESTMENT COMMUNITY IS CHANGING AND REACTING QUICKLY TO THE PUBLIC MARKETS. I THINK THAT IT’S VERY DIFFICULT IF YOU ARE A GROWTH STAGE COMPANY. A GROWTH AT ALL COSTS COMPANY BURNING HUNDREDS OF MILLIONS OF DOLLARS. IT’LL BE DIFFICULT TO GET FUNDING MOVING FORWARD. WE WENT ALL IN ON THE UNIT ECONOMICS. I THINK IT’LL BE A HEALTHY RESET FOR THE TECH COMMUNITY. >> I’M CURIOUS ABOUT WHAT WERE YOUR CONVERSATIONS FOR THIS MOST RECENT ROUND OF FUNDING >> LOOK. INVESTORS, HAVE SEEN A LOT OF THE PRESS IN THE — IN THE — ON THE CATEGORY AND LOOKED AT SOME OF THE OLD RETAILERS. THEY ARE LIKE THIS IS A DIFFERENT BUSINESS AND THINK FOLKS WERE EXCITED ABOUT THAT. I THINK THAT THE FACT THAT THE UNIT ECONOMICS ARE POSITIVE. FOLKS ARE EXCITED ABOUT — WE ARE NO LONGER THE BIGGEST MICROMOBILITY COMPANY BUT WE ARE THE BEST ON THE UNIT ECONOMICS SIDE. INVESTORS SEEM TO CARE ABOUT THAT WHICH IS GREAT. >> AND HOW DO YOU KNOW THAT YOU ARE BEST ON UNIT ECONOMICS >> IT’S DIFFICULT TO KNOW FOR SURE. MOST INVESTORS ARE RESPECTFUL OF NOT SHARING DATA WITH COMPETITION BUT WE HEAR THAT WE — AS FAR AS THEY CAN TELL THE — THE ONLY PLAYER WITH POSITIVE UNIT ECONOMICS AND SO — THAT’S — YOU KNOW POSITIVE REINFORCEMENT FOR US AND A SIGN WE NEED TO CONTINUE TO FOCUS ON THAT AS A COMPANY. SOMETIMES I’M AN X GROWTH GUY AND SOMETIMES I WANT TO SEE US GROWING ACROSS THE WORLD AND I WANT TO TAKE THE COMPANY ON THE WORLD TO THE MISSION IN POSSIBLE. THE CHALLENGE IS TRYING TO STAY DISCIPLINE AND EDUCATE THE COMPANY ON PROFIT IS MORE IMPORTANT THAN GROWTH. THEY ARE SEEING A LOT OF THE PRESS HEADLINES. >> I WANT TO GET A LITTLE BIT MORE LOCAL. I THINK IT WAS IN JULY, YOU OFFICIALLY GOT SCOOT FOR $25 MILLION OR SO. WAS THAT — THAT’S THE NUMBER >> WE WON’T COMMENT ON THE NUMBER. IT’S A LITTLE OFF. >> HIGHER OR LOWER >> IT’S IN THE BALLPARK. >> IN THE BALLPARK OF 25 MILLION. WHAT — WHAT MADE SCOOT WORTH 25 MILLION GIVE OR TAKE >> I FIRST HAD DINNER WITH MICHAEL THE FOUNDER OF SCOOT LAST SPRING. I RECOGNIZED THAT HE IS — PASSIONATE ABOUT WHAT WE ARE PASSIONATE ABOUT WHICH IS REMOVING CAR FROM THE ROAD AND REDUCING CARBON EMISSIONS AND TRAFFIC. SCOOT AS MANY PEOPLE KNOW WAS THE FIRST ELECTRIC MOPED SHARING COMPANY IN SAN FRANCISCO. IT WAS FIVE, SIX, SEVEN YEARS AGO OR SOMETHING. SO THEY HAVE THE MOST EXPERIENCE DOING THIS. WE HAD A DIFFERENT FARM FACTOR AND A DIFFERENT WAY AND DIFFERENT VEHICLE TYPE. ONE THING WE WERE EXCITED ABOUT WAS THE TEAM WAS ALIGNED WITH HU MISSION AND PASSIONATE AND THEY HAD THE MOST EXPERIENCE. WE THOUGHT THAT WAS SUPER VALUABLE AND WE HAVE INFUSED THAT CULTURE IN AND IT’S MADE US STRONGER. >> AND I REMEMBER CHATTING WITH — WITH MICHAEL KEAT ING. THE C, O OF SCOOT WHEN THEY WERE FIRST GRANTED A PERMIT TO OPERATE HERE IN SAN FRANCISCO. HE MENTIONED THAT SCOOT HAD BEEN LOOKING AT WAYS TO INTEGRATE HELMETS ONTO ITS KICK SCOOTERS. IS THAT SOMETHING THAT — THAT SCOOT IS STILL PURSUING UNDER YOU >> YEAH. WE ARE. WE DO THINK THAT HELMETS MAKE SENSE TO WEAR. IT TURNS OUT ON ELECTRIC SCOOTER AS YOU CAN SEE THERE’S — THERE’S THE FARM FACTOR IS SMALL AND TRYING TO FIGURE OUT THE BEST WAY TO MOUNT A HELMET IS CHALLENGING. YOU CAN MOUNT A HELMET ON, IT’S JUST WHEN WE — IN OUR INDUSTRY WHEN THINGS GET PUT ON THE ROAD THEY TEND TO GET DAMAGED FAST. YOU HAVE TO FIGURE OUT HOW TO MAKE SURE THEY DON’T GET DAMAGED OR STOLEN BUT IT’S STILL AN R AND D PROJECT. ON THE MOPED BUSINESS WE HAVE TWO HELMETS. HAVE YOU RIDEN THEM BEFORE, TWO HELMETS IN THE BACK CARGO BOX. >> AND THEN — OKAY. I THINK THAT LAST WEEK ACTUALLY. WITH IN THE LAST TWO WEEKS THE CITY GRANTED ANOTHER ROUND OF PERMITS FOR ELECTRIC SCOOTER OPERATORS. SCOOT WAS GRANTED ONE. IT IS GREAT FOR YOU. YOU DIDN’T APPLY FOR A SCOOTER. MY THINKING WAS — IF HAD APPLIED BOTH GOT IN THEM THAT’S LIKE TWO OF THE FOUR OPERATORS. I’M WONDERING WHY DIDN’T YOU APPLY FOR A PERMIT >> OUR THINKING WAS — SCOOT HAS A GREAT RELATIONSHIP IN SAN FRANCISCO. A GREAT BRAND IN SAN FRANCISCO. WE FELT LIKE IT MADE SENTENCE JUST TO APPLY WITH THE SCOOT BRAND TO CONTINUE TO OPERATE IN SAN FRANCISCO. WE COULD HAVE APPLIED TWO TIMES BUT WE DIDN’T WANT TO GET GREED Y WITH IT. >> AND LONG TERM WITH — WITH THE ACQUISITION OF SCOOT. IS THE PLAN TO ALWAYS LET IT BE IT’S OWN BRAND OR DO YOU SEE IT MAYBE — DO YOU SEE IT BECOMING ONE BRAND IN THE END OR WHAT’S YOUR VISION FOR THAT >> WE DO WANT THE SCOOT BRAND TO LIVE ON. WE THINK IT’S A STRONG BAND IN PARTICULAR WITH CITIES AND — WE WANTED TO LIVE ON. IT’LL LIVE ON IN SAN FRANCISCO. WE ARE TRYING TO FIGURE OUT IN OTHER CITIES WHAT MAKES THE MOST SENSE FOR THE BRAND. >> AND ABOUT WITH IN THE LAST SIX MONTHS. THERE ARE TALK THAT UBER WAS LOOKING TO BUY THE COMPANY. WAS THAT — WAS THAT TRUE, WERE YOU IN TALKS WITH UBER >> I DON’T THINK UBER — WE WERE NEVER IN SERIOUS TALKS, WE WERE TALKING TO EVERYBODY IN THE INDUSTRY AND WE DO TALK TO COMPETITION FROM TIME TO TIME. THERE WAS NEVER A SERIOUS CONVERSATION TO THOSE REGARDS. THE INDUSTRY STILL SO NEW. FOLKS TRYING TO FIGURE OUT HOW DOES THIS SHAKE OUT OVER THE LONG RUN I THINK THIS IS ONE OF THESE UNIQUE INDUSTRIES WHERE IT LOOKS EASY FROM THE OUTSIDE AND A LOT OF COMPANIES LIKE THIS. ARE YOU LIKE WOW, IT’S COMPLEX. I ALWAYS LIKE TO SAY IT’S EASY TO SHARE A SCOOTER SHARING COMPANY AND LOOSE MONEY. YOU WANT TO MAKE MONEY PER RIDE AND THAT’S THE BIG CHALLENGE. THE NEXT 12 MONTHS WILL BE INTERESTING TO SEE HOW THE INDUSTRY REALLY SHAKES OUT. >> I MEAN DO YOU SEE THE COMPANIA INQUIRING OTHER COMPANIES IN THE SPACE OR MAYBE SELLING TO A LARGER COMPANY >> WE — YOU KNOW SCOOT WE THINK WAS A UNIQUE SITUATION. WE DON’T HAVE PLANS TOA AREA OTHER OPERATORS. FORTUNATELY WE ARE THE HEST AHEAD ON THE VEHICLE SIDE. QUESTION THINK WE HAVE A GOOD TEAM NOW. TAKING THAT TO THE WORLD FOR US IS THE NEXT STEP AND WE DON’T ANTICIPATE ANY OTHER OPERATOR ACQUISITIONS AT THIS TIME. >> YOU TOUCHED ON THIS A LITTLE EARLIER. THE PLATFORM WHICH IS LIKE A FRANCHISE MODEL, IT — I’M WONDERING SO — YOU HAVE THE PLATFORM, YOU HAVE THE SHARED ELECTRIC SCOOTER MODEL. YOU SELL DIRECTLY TO CUSTOMERS AND THEN YOU HAVE THE MONTHLY RENTALS. I’M CURIOUS WHICH OF THOSE BUSINESS MODELS ARE YOU FINDING THE MOST SUCCESS WITH. >> THE SHARING BUSINESS WAS — THE ORIGINAL BUSINESS AS — MOST OF YOU KNOW AND WE THINK THAT WILL CONTINUE TO BE THE CORE BUSINESS FOR US MOVING FORWARD. WE THINK MOST PEOPLE, MOST RIDERS WILL WANT TO RENT BY THE MINUTE AND — WE CONTINUE TO THINK THAT WILL BE THE CORE BUSINESS. THE MISSION IS TO REMOVE CAR FROM THE ROAD. REDUCE PHOTOGRAPH SPECK CARBON EMISSIONS. WE WANT TO BE THERE TO HELP RIDERS HELP RIDER ACROSS THE WORLD TO KICK THE ADDICTION TO CARS. SHARING, RENTING BY THE MONTH, OWNING, WE THINK THAT ALL THINGS FIT NICELY WITH THAT MISSION. >> AND DO YOU — DO YOU THINK THAT YOU WILL KEEP ALL OF THOSE BUSINESSES OR MAYBE LIKE — ARE THESE THINGS THAT YOU IMAGINE THESE POLE MORE LIKE LONG TERM SERVICES AND THEN INITIATIVES >> THEY WILL BELONG TERM INITIATIVES. THEY ARE OFF TO IA GREAT START. IT’S KIND OF INTERESTING TO THINK ABOUT WHEN UBER FIRST STARTED RIDE SHARING. YOU KNOW CAR OWNERSHIP EXISTED FOR ROUGHLY 100 YEARS OR SO. THEN — YOU KNOW REALLY TRYING TO EDUCATE PEOPLE TO DO SHARING INSTEAD OF OWNERSHIP. IT’S A FRESH START. NOT A LOT OF PEOPLE OWNED THEM. WE ANY FOR THAT REASON THE VAST MAJORITY OF FOLKS WILL DO SHARING. SOME PREFER TO OWN AND RENT BY THE MONTH THAT WE SERVE THIS CUSTOMER AS WELL. >> I THINK THERE HAS BEEN THIS — ONGOING CONVERSATION AROUND IS IT GOING TO BE THE SHARED MODEL THAT STICKS AROUND OR IS IT GOING TO BE OWNERSHIP. I THINK BY HAVING YOUR FEET IN BOTH AREAS YOU CAN KIND OF FIGURE THAT OUT FIRSTHAND. >> EXACTLY. IT FITS WITH OUR MISSION. YOU KNOW IT’S GREAT TO OFFER THE DIFFERENT COLORS FOR SALE. WE HAD SOME FUN WITH THE WHITE AND THE ELECTRIC ROSE THAT PEOPLE SEEMED TO LIKE. IT’S — WE THINK IT’S A GREAT BUSINESS FOR US MOVING FORWARD. >> AND YOU HAVE A LOT OF VEHICLES. YOU HAVE — YOU HAVE THE ONE AND THE TWO AND THEN YOU — ANNOUNCED RECENTLY A GO SEATER. IT’S LIKE A — IT’S — LIKE A HYBRID BIKE, MOPED SCOOTER THING. YOU CAN PROBABLY EXPLAIN IT BETTER. >> YEAH. WE CALL IT IS CRUISER AND PART THE REASON IS THAT — IT’S — IT DOES KIND OF FIT IN BETWEEN A FEW DIFFERENT CATEGORIES. REALLY IT COULD BE A MOPED OR BIKE. FOR US, WE — WE WANT TO — WE WANT TO TRY TO HELP REDUCE CAR TRIPS AND — THE SCOOTERS — WAS A GREAT FIRST VEHICLE TOWARD THAT MISSION. MOST SCOOTER RIDES TEND TO BE OWN OR TWO MILES AND THE CRUISE LETTER BE BETWEEN TWO TO FIVE MILE ITS. WE THINK IT’S THE MISSING PIECE IN THE POR TFOLIO. WE EXCITED ABOUT THE CRUISER. >>AND THOSE WOULD ALSO BE SHARED LIKE PART OF THE SHARED MODEL. >> THAT’S RIGHT. >> OKAY. >> THEY WILL BE AVAILABLE BY SHARING. >> I GUESS WHO IS — WHO ARE YOU SEEING AS — AS A CUSTOMER FOR THAT TYPE OF VEHICLE ARE YOU SEEING JUST LIKE REALLY GOOD FRIENDS OR LIKE COUPLES OR — >> LOOK I THINK — WITH THE CRUISER IT’S KIND OF INTERESTING. I THINK THE CASE IF IT’S LONGER DISTANCE TRIP. IF YOU ARE GOING MAYBE FOUR MILES YOU PROBABLY WANT TO USE THE CRUISE ERIN STEAD OF A KICK SCOOTER. THEN JUST WE — YOU KNOW WE HAVE TALKED TO FOLKS THAT MAYBE ARE — A LITTLE OLDER THAT DON’T LIKE USING THE KICK SCOOTERS THAT WOULD PREFER TO USE THE CRUISER IS WHAT WE HEAR. I KNOW I — GOING BETWEEN — ON THE LENGTH OF THE TRIP. >> YEAH. OBVIOUSLY YOU — YOU HAVE RAISED A TON OF MONEY FOR THE COMPANY AND I HAVE HEARD THAT MAYBE YOU HAVE TAKEN SOME MONEY OFF THE TABLE. IS THAT TRUE >> THERE WAS SOME MONEY TAKEN OFF THE TABLE. WE WERE IN A POSITION LAST SUMMER. IT WAS REALLY WEIRD, UNIQUE POSITION WHERE — WE WERE — WE KEPT INCREASING THE SIZE OF THE ROUND OF THE SERIES C AND BEING OVER SUBSCRIBED AND WE GOT TO THE POINT WHERE WE BASICALLY — THE BOARD DIDN’T WANT TO TAKE MORE CAPITOL. SOME STILL WANTED TO INVEST AND — YOU KNOW WE FELT LIKE IT MADE SENTENCE AT THE TIME. IT’S SOMETHING THAT I KNOW A LOT OF FOUNDERS DO OVERTIME. YOU KNOW IT’S — IT WAS A LITTLE BIT OF A UNIQUE SITUATION. WE WERE SO OVER SUBSCRIBED. >> SOME MAY SAY IT MAY SUGGEST IT’S NOT LONG ONTO DIVISION OF THE COMPANY. >> ANYONE KNOWS ME, KNOWS THAT I AM VERY LONG AND SUPER PASSIONATE ABOUT THE MISSION. THE REASON I GET UP EVERY MORNING IS THAT I REALLY BELIEVE WE NEED A WORLD WITH FEWER CARS. THAT’S WHAT GETS ME EXCITED EVERY MORNING TO COME IN TO THE OFFICE. I’M DEFINITELY IN IT FOR THE LONG HAUL AND WE SEE THEM AS A LONG TERM STAND ALONE COMPANY. THAT’S ONE OF THE REASONS WE ARE SO FOCUSED AND THE PATH TO PROFIT IS WE WANT THIS TO BE A STAND ALONE COMPANY. WE DON’T WANT THIS TO BE A QUICK FLICK COMPANY. >> AND WE ARE — ACTUALLY OUT OF TIME BUT ONE LAST THING. JUST WITH THE RECENT INFLUX OF FUNDING WHAT’S THE PLAN FOR THAT OVER THE NEXT YEAR WHAT ARE YOU GOING TO DO WITH THAT FUND SOMETHING. >> ITS GOING TO BE USED TO CONTINUE TO SCALE TO MORE CITIES. YOU KNOW EUROPE IN PARTICULAR IS — WE ARE GOING TO INVEST MORE IN EUROPE BUT CONTINUE TO TAKE BASICALLY THE THREE BUSINESS LINES NOW TO THE WORLD. BECAUSE WE HAVE STRONG UNIT ECONOMICS NOW WE THINK THIS CASH WILL ACTUALLY LAST US QUITE A BIT OF TIME. WE FEEL GOOD. NOBODY KNOWS WHAT WILL HAPPEN AT THE MACRO LEVEL. ARE WE HEADING TO RECESSION I KNOW THAT’S A BIG DEBATE. WE WANT TO MAKE SURE THAT THE COMPANY IS WELL FINANCED FOR THE NEXT FEW YEARS. >> HAVE A SAFETY NET. >> EXACTLY. >> EXACTLY. >> THANK YOU FOR TAKING THE TIME. >> THANK YOU FOR HAVING ME. >> DO YOU WANT TO SCOOT OFF >> I WILL LET YOU DO IT. >> ALL RIGHT. . >> JUST — I DON’T WANT TO HIT YOU. >> PLEASE BE CAREFUL. THERE’S STAIRS OVER THERE. I DON’T KNOW WHAT HER PLAN IS. OKAY. COMING UP NEXT ON THE Q AND A STAGE. — HEAD OF VERIZON VENTURES. GLOBAL AND LEE RADFORD, PROCTOR AND GAMPLE. IF YOU HAVE QUESTIONS FOR THEM IN PARTICULAR, NOW IS THE TIME. HEAD ON OVER. ANYONE IN THE AUDIENCE PLAY VIDEO GAMES COOL. ME TOO. I WILL KICK OUR ASS. OUR NEXT GUEST ALSO PLAYED QUITE A BIT OF VIDEO GAMES AND MADE QUITE A BIT OF MONEY OFF THAT. PLEASE WELCOME, FOUNDER OF SB PROJECT SCOOTER BRAUN AND FOUNDER AND CEO OF 100 THIEVES, MATTHEW HAAG. I WILL BE YOUR MODERATOR. PLEASE WELCOME THEM. THAT’S YOURS. >> HOW YOU DOING >> GOOD. >> THE FUN LITTLE HAND SHAKE. >> I THINK WE DID GREAT. >> IT WAS GREAT. >> RAISE YOUR HAND IF YOU KNOW WHAT 100 THIEVES IS ANYONE FAMILIAR IN THE AUDIENCE PROBABLY WORD FOR YOU. >> THERE’S A FEW THERE. >> IT’LL BE A LOT MORE IN A COUPLE OF YEARS. >> MAYBE BY THE END OF THE AFTERNOON. >> THAT MAKES MORE SENSE. >> YOU KNOW YOU — YOU ARE PROBABLY USED TO GOING TO A LOT OF THESE GAMING CONFERENCES WHERE YOU GET MOBBED. YOU FEEL WEIRD BEING UNNOTICED >> I ABSOLUTELY NOT. I PROMISE I’M NOT THAT FAMOUS. I HAVE MY NICHE COMMUNITY. I ALWAYS ENJOY TALKING ABOUT VIDEO GAMES AND THE BUSINESS WE ARE IN WITH PEOPLE THAT AREN’T AWARE OF PEOPLE HAPPENING IN THE GAMING INDUSTRY. IT’S A GREAT OPPORTUNITY TO INFORM PEOPLE OF THIS EMERGING BUSINESS. >> I HAVE A LOT TO ASK SO I WANTED TO ASK YOU LIKE — YOU INVEST IN 100 THIEVES. WHAT DREW YOU TO THIS BUSINESS >> FIRST I’M HERE FOR EMOTIONAL SUPPORT. I KNOW MOST OF YOUR QUESTIONS ARE FOR MATT. WHAT I WAS DRAWN TO WAS — WE STARTED LOOKING AT THE SPACE AND — REALIZING THAT THE GAMING — THE GAMING WORLD IS — IF YOU TAKE ALL OF MUSIC AND FILM COMBINED, GAMING IS BIGGER. >> SO WE WANTED TO KIND OF LOOK AT THE SPACE AND SEE IF WE COULD GET IN AND WE STARTED LOOKING, DO WE BUY A TEAM, CREATE A LEAGUE. I SAID LET’S JUST SIT BACK AND WATCH. IT’S A YOUTH DRIVEN BUSINESS. WE REALIZED WHEN WE MET MATT HE WAS LOOKING AT IT DIFFERENTLY. HE WASN’T LOOKING AT IT AS PROFESSIONAL TEAM MANY HE WAS LOOKING AT IT AS A BRAND. 100 THIEVES STARTED WAS A CLOTHING BRAND. I LIKE TO BET ON FOUNDERS AND MATT WAS A FROM FESS NAIL GAMER. VERY SUCCESSFUL. TO THEM SOMEONE THAT BELIEVED IN THE SPACE EARLY ON. HE GOES AND TALKS TO PLAYERS. HE WON’T BRAG ABOUT THEMSELVES. SEVEN YEARS AGO THIS GUY WORKED AT McDONALDS AND WAS A FOUR YEAR EMPLOYEE. HE WAS TRYING TO PUT HIMSELF THROUGH SCHOOL. SEVEN YEARS LATER HE WAS AN OWNER AND RUNNING LARGE ORGANIZATION WHERE HE PAYS GAMER WHO WORK IN HIS ORGANIZATION MILLIONS OF DOLLARS YOU SEE SOMEONE WHO HAD THAT KIND OF DRIVE. I MAKE A BET ON THEM. >> THANK YOU SCOOTER. >> YOU WANT TO KNOW SOMETHING THAT’S INTERESTING. YOU WANT TO KNOW HOW MUCH SCOOTER SUPPORTS 100 THIEVES. HE HAS NOT REMOVED HIS HAT SINCE HE BECAME A CO OWNER. I SWEAR TO GOD. EVERY PHOTOGRAPH YOU CANNOT FIND ONE. IF HE HAS A HAT ON ITS 100 THIEVES. >> I THINK — I HAVE THREE AND THEY TRADE AND NOBODY HAS TO SEE HOW MUCH I’M RECREEDING. >> LET’S LAY THE LANDSCAPE FOR THESE PEOPLE HERE. THERE’S CLOTHING, 100 THIEVES BRANDED GEAR. COOL SHIRTS, T-SHIRTS. IT THERE IS E SPORTS. YOU — YOU OWN SEVERAL DIFFERENT TEAMS THAT COMPETE AT THE PROFESSIONAL LEVEL. THEY GET SPONSOR SHIPS. THEY WIN TURNMENTS AND THEN STREAMERS WHO SPEND EIGHT TO 12 HOURS A DAY PUTTING THISSER STUFF UP ON TWITCH AND CREW KNUBLE AND BRINGING THEM MONEY THROUGH THAT MODEL. WHICH GENERATES THE MOST REVENUE >> RIGHT NOW IT’S A COMBINATION BETWEEN STREAMERS WHICH WE WOULD CALL ENTERTAINMENT AND THEN E SPORTS TEAMS. THEY GO ON STAGE. LOGO PLACEMENTS JUST LIKE YOU WOULD SEE IN THE NBA OR NASCAR. JUST LIKE TRADITIONAL SPORTS. OUR BIGGEST REVENUE DRIVERS, PARTNERSHIPS BUT — WE HOPE TO GROW OUR CLOTHING BUSINESS AND HAVE THOSE OPERATING AT THE SAME LEVEL OF WHAT WE WOULD COME TO EXPECT. >> AND — AS SCOOTER SAID YOU ARE FORMER PROGAMER AND PLAYED CALL OF DUTY. THIS YEAR CALL OF DUTY MOVED FROM A PUBLISHER SUPPORTER LEAGUE, ACTIVISION TO A FRANCHISE LEAGUE AND YOU HAD TO MAKE THE SAD ANNOUNCEMENT THAT 100 THIEVES WOULDN’T PARTICIPATE NEXT YEAR SWEU A BUMMER FOR ME. I HAVE LOVED WATCHING YOUR TEAM PLAY IN THE LAST YEAR. >> THANK YOU. >> HOW DO YOU PROTECT YOUR BUSINESS AGAINST E SPORTS IS CHANGING. IT’S GROWING MATURING, THINGS ARE HAPPENING VERY QUICKLY. HOW DO YOU PROTECT YOUR BUSINESS AGAINST THOSE CHANGES, NOT PARTICIPATING IN CALL OF DUTY, IT’S LIKE CALL OF DUTY. >> FOR ME THE GAME WAS ALWAYS CLOSE TO MY CHEST BECAUSE IT’S THE TITLE THAT LET ME HAVE A CAREER. I BUILT MY FOLLOWING. I HAVE MADE ALL THE FRIENDSHIPS I HAVE TO THIS DAY THROUGH THE CALL OF DUTY COMMUNITY SINCE I WAS 16. IT WAS A TOUGH DECISION TO STRAY AWAY FROM SPENDING $25 MILLION ON A FRANCHISE LEAGUE. IT’S NOT THAT WE DON’T BELIEVE IN THE MODEL. WE ARE PART OF LEAGUE OF LEGENDS. WE PAID $10 MILLION TO BE A PART OF THAT LEAGUE. FOR US CALL OF DUTY IS IN A TOUGHER PLACE BECAUSE THE GAME HAS BEEN AROUND FOR A DECADE. VIEWER SHIP ISN’T GROWING THE SAME RATE. IT’S A FRANCHISE THAT HASN’T WITHSTOOD THE TEST OF TIME TO THE EXTENT THAT LEAGUE OF LEGENDS HAS. E SPORTS A LOT OF PEOPLE WOULD CONSIDER IT IN A BUBBLE OR REFER TO IT AS A BUBBLE SOMETIMES. WHAT WE ARE DOING IS GETTING DOWN AND BELIEVING IN THE BRAND THAT WE ARE BUILDING. LIKE SCOOTER SAID IN THAT YOU BROUGHT UP CLOTHING IS REALLY BIG PART OF OUR BUSINESS. WHAT I FOUND IN THE COMPANY AS — AND WE BELIEVE THAT ALL OF THE ENTERTAINMENT MOVES THAT WE ARE MAKING BY SIGNING POPULAR STREAMERS AND CREATING CONTENT ON YOUTUBE. WE WANT THAT TO GROW. WE WANT TO INVEST IN THE RIGHT E SPORTS THAT WE THINK WILL SHOW RETURN IN THE NEAR FUTURE AND LONG TERM AND THEN OUR CLOTHING WILL — LIKE WE SAID WE WANT TO CONTINUE TO GROW. WE JUST HAVE TO BE DISCIPLINED WITH HOW WE SPEND OUR MONEY. A LOT OF MONEY WE CAN’T JUST FLUSH IT DOWN THE DRAIN AND START WILDLY SPENDING JUST BECAUSE E SPORTS IS — USED AS A BUZZ WORD. JUST BECAUSE — THEY THINK THIS IS WHAT WE NEED TO DO. THAT’S NOT GOING TO DEFINE OUR SUCCESS. WE WANT TO SPEND CAREFULLY. >> WHY NOT JUST WRITE THEM A CHECK 25 MILLION. >> I DON’T KNOW HOW TO RESPOND TO THAT. LOOK. I THINK THE REASON WHAT MATT IS SAYING CORRECT AND THE REASON I WOULDN’T WRITE A CHECK IS I DON’T WANT TO BE FRIVOLOUS. WE WANT TO MAKE A PLAN AS TO WHERE E SPORTS AND GAMING IS GOING. WE DON’T WANT TO GET CAUGHT OUT IN THE NEXT TWO YEARS AND SAY WE ARE OUT OF MONEY MANY WE ARE WELL FUNDED. WE ARE MAKING THE RIGHT DECISIONS. WE ARE HEADING TOWARD PROFITABLE. THAT’S A VERY TOUGH DECISION. CALL OF DUTY IS SO IMPORTANT WITH HIM AND HE IS SO CLOSE TO THESE GUYS AND THEY WON TWO MAJOR CHAMPIONSHIPS. WHAT I’M EXCITED ABOUT IS HE BUILT THE BRAND TO A PLACE WHERE I THINK A LOT OF THESE GUY ALSO GO TO DIFFERENT TEAMS AND YOU WILL SEE THEM WEARING THE BRAND 100 THIEVES. BECAUSE THAT’S THE MOST IMPORTANT THING TO US, TO BUILD A BRAND THAT WHEN THIS THING IS — GETS FLUSHED OUT, WE SEE WHERE E SPORTS AND GAMING, 100 THIEVES WILL STAND THERE AS THE CHOICE BRAND FOR GAMERS. >>AND LIKE — MY TWO CENTS FOR WHATEVER IT’S WORTH IS 100 THIEVES HAS GOT TONE THE POINT IN THE SHORT TIME ITS BEEN AROUND THAT CALL OF DUTY ISN’T INTO GRAM TO INTEGRAL TO THE BRAND BEING POPULAR. TIFU WAS FEELING LIKE HIS CONTRACT WAS UNFAIR. WHAT DOES YOUR CONTRACT WITH YOUR PROPLAYERS LOOK LIKE >> THEY ARE VERY DIFFERENT DEPENDING ON THE GAME. OUR FORTNITE PLAYERS. WE PAY THEM TENS OF THOUSANDS OF DOLLARS AND WE TAKE A PERCENTAGE AND WE NEGLIGENT ATE WITH OUR AGENTS AND MAKE SURE THAT THEY ARE COMFORTABLE WITH THE DECISION THEY ARE MAKING. OUR FORTNITE PLAYERS UNDER 18 SO WE TALK TO THEIR PARENTS, WE EXPLAIN TO THEM WHAT THIS CONTRACT MEANS AND GO THROUGH IT LINE BY LINE SO THEY UNDERSTAND THE DECISION THEY ARE MAKING. WE ADVISE THEM TO BRING ON AN AGENT IF THEY DON’T HAVE ONE AND HELP THEM NAVIGATE THIS SPACE. I THINK FOR ME WHAT’S BEEN IMPORTANT IS I WAS IN THEIR SHOES — WHEN I WAS 16 YEARS OLD, AND CONTRACTS AND THE STAKES WEREN’T AS HIGH AS THEY ARE NOW IN TERMS OF THE OPPORTUNITY THAT THEY HAVE TO EARN IN THE FUTURE. SO, THERE HAS NEVER BEEN A TIME IN MY LIFE WHERE I JUST WANT TO PROTECT MORE THAN I EVER HAVE NOW. I WAS THERE. I WASN’T MAKING MONEY. THERE WASN’T A BEATEN PATH FOR ME TO GO DOWN TO TRY TO FIGURE OUT WHAT IS THE NEXT BEST DECISION FOR ME I’M REALLY CLOSE WITH OUR PLAYERS AND THAT’S PROBABLY WHAT I LOVE ABOUT MY JOB THE MOST. BEING ABLE TO HELP THEM BUILD A CAREER SO THEY CAN EARN MONEY FOR THE RESTS OF THEIR LIVES DOING SOMETHING THEY ARE IN THE TOP .01% AT IN THE WORLD. I WOULDN’T GET TOO DEEP IN TO THE CONTRACTS BUT WE PAY OUR PLAYERS WELL. AS THEY CONTINUE TO GROW AND PREFORM WE ARE ALWAYS OPEN TO RETHING ATING AND THAT’S SOMETHING THAT’S BEEN VERY IMPORTANT TO ME. >> I KNOW THERE’S BEEN A HUGE DEBATE ABOUT IF IT’S FAIR TO TAKE WINNINGS INSTEAD OF SLICES OF ENDORSEMENT DEALS BECAUSE WITH THOSE — IN A LOT OF WAYS YOU BRING THAT TO THE TABLE, RIGHT YOU ARE THE BROKER OF THAT WHEREAS WINNINGS IS — THEY ARE THE ONES GOING OUT AND PLAYING WINNING THE MILLION DOLLARS OR WHATEVER IT MAY BE. >> YEAH. ABSOLUTELY. I MEAN THAT’S SOMETHING THAT WE CONTINUE TO LOOK AT. ITS BEEN AN INDUSTRY STANDARD FOR A LONG TIME IT. WAS THE CASE WHEN I WAS A PLAYER. AS THE STAKES GET HIGHER, IT’S SOMETHING THAT WE ALWAYS TALK ABOUT INSIDE THE OFFICE INEVERY SINGLE DAY. I DON’T THINK THERE’S A RIGHT ANSWER TO THAT QUESTION RIGHT NOW. THERE’S NO WORLD WHERE WE ARE LOOKING TO TAKE ADVANTAGE IN — EVEN LIKE PRIZE EARNINGS UP INTO THIS POINT I THINK THIS TOPIC HAS ONLY COME UP BECAUSE THE WORLD CUP. THEY ANNOUNCED 100 MILLION- DOLLAR PRIZE POOL. BEFORE, PRIZE MONEY NEVER MOVED THE NEEDLE FOR PLAYERS OR ORGANIZATIONS. IT’S NOT EVEN IN THE CONVERSATION OF WHAT DRIVES REVENUE FOR A TEAM. SO, IT’S ADAPTING AND SOMETHING WE HAVE TO CONTINUE TO TALK ABOUT. WE WANT OUR PLAYERS TO BE JUST AS EXCITED CONTRIBUTING INTO THEIR PERSONAL BRAND AND HELPING THEM GROW WHERE NOBODY IS BEING TAKEN ADVANTAGE OF. >> LET’S TALK ABOUT THE ENTERTAINMENT SIDE OF THE BUSINESS. THESE PLAYERS, OFTEN TIMES — EVEN IF — THEY STILL SEE A HUGE LIFT. THEY GET SIGNED TO 100 THIEVES AND YOU GO FROM A HUGE 20,000, 30,000 TO A MILLION OR TO 10 MILLION. THEY SEE THOSE BIG JUMPS. WHEN I GET SIGNED ONTO WORK FOR MY COMPANY I HAVE TO GO THROUGH STANDARDS OF BUSINESS CONDUCT TRAINING TO LEARN HOW TO BE A GOOD REPRESENTATIVE FOR MY ORGANIZATION. WHAT KIND OF TRAINING DO YOUR PLAYERS GO THROUGH TO PREPARE THEM TO BE IN FRONT PEOPLE AND NOT SMEAR THE 100 100 THIEVES NAME >> WE HAVEN’T DONE MEDIA TRAINING UP UNTIL THIS POINT. I DID WHEN I SIGNED UP WITH RED BULL IN 2012 OR 2013. REALLY WHAT WE DO IS WE ARE CAREFUL IN THE WAY THAT WE RECRUIT PLAYERS. I THINK THAT — 100 THIEVES HAS TAKEN A VERY DIFFERENT APPROACH WHEN COMES TO ENTERTAINMENT IN E SPORTS WHERE NORMALLY TEAMS WOULD OPERATE LIKE THE YANKEES, THEY WOULD TRY TO SIGN THE BEST PLAYERS AND HOPEFULLY THEY WIN AND THAT’S THEIR FAN ACQUISITION STRATEGY. WE HAVE A COMBINATION OF PROFESSIONAL PLAYERS AND WE TRY TO HELP THEM GROW THERE ARE LIVE STREAMS OR JUST LIKE THEIR ENTERTAINMENT FOOT PRINT WHETHER IT’S ON YOUTUBE OR ANY OTHER MEDIA OUTLET THEY WANT TO BE A PART OF OR CONTRIBUTE TO AND WE HAVE CONTENT CREATE EARS THAT THEIR ENTIRE JOB IS ENTERTAINMENT THROUGH VIDEO GAMES. WE HAVEN’T RAN INTO SITUATIONS WHERE PLAYERS JUST POP OFF AND SAY SOMETHING THAT WOULD CAUSE PROBLEMS BECAUSE I FEEL LIKE WE HAVE GOOD KIDS THAT PLAY FOR US. OBVIOUSLY THAT IS NOT — A GREAT ANSWER OR GREAT SOLUTION. I REALLY TRUST IN THE PLAYER THAT WE HAVE SIGNED AND — WE MAKE SURE TO TALK TO THEM VERY STERNLY ABOUT HOW THEY SHOULD REPRESENT 100 THIEVES AND I THINK THEY HAVE A GOOD HANDLE ON IT. AS THE INDUSTRY GROWS AND — GAMING IS MORE FROMMENT IN HOW MANY ARE WATCHING OR WHERE ITS BEING SHARED I THINK MEDIA TRAINING CAN BE AND IS A NECESSARY STAND AFTER OF OPERATIONS THAT WE PROBABLY SHOULD ENACT IN TO THE COMPANY. >> AND YOU HAVE GUIDELINES LIKE WE DON’T USE THOSE WORDS >> YES. ABSOLUTELY. THERE IS A — A BANNED LIST OF WORDS THAT WE ACTUALLY JUST BROUGHT ON — A TEAM CALLED THE MOB. THEY STARTED AS SOCIAL MEDIA STAR THAT WOULD JUST TWEET FUNNY, FUNNY MEMES. I’M SURE A LOT OF PEOPLE HERE IN TECH — HOPEFULLY ARE FAMILIAR WITH MEMES. THAT’S HOW THEY GOT START WAS INTERACTING THE BIGGEST GAMING PERSONALITIES IN THE WORLD AND MAKING THEM LAUGH. THERE WAS CHOICE CONTENT THEY WOULD UP LOAD THAT WAS A LITTLE DICEY. WHEN WE BROUGHT THEM ON AND PUT THEM IN IA HOUSE WE SAID WE HAVE TO HAVE A CONVERSATION . IT’S CHANGING BUT — WE ARE BRAND SAFE. WITH THE PARTNERSHIPS WE HAVE, THERE’S TOO MUCH ON THE LINE. >> CAN’T RISK IT. TO RISK WHAT WE HAVE BUILT. THAT’S THE MOST IMPORTANT THING TO ME. >> THAT’S KIND OF SOMETHING THAT’S — REALLY CLOSE TO ME ACTUALLY. I PLAY A LOT OF VIDEO GAMES. AS A GIRL, WOMAN, WHATEVER, IT’S — TERRIFYING. IT’S REALLY NOT FUN TO PLAY SLID YES GAMES AS A GIRL. THE THINGS THAT PEOPLE SAY TO YOU ARE JUST JARRING. IT’S WAY WORSE THAN ANYTHING I HAVE EVER EXPERIENCED ON ANY OTHER PART OF THE INTERNET. I GUESS I’M JUST CURIOUS LIKE — YOU KNOW — THERE MAY NOT BE TRAINING THERE IS CLEARLY GUIDELINES BUT — ARE YOU REMINDING THESE PLAYERS THAT THEY ARE ROLE MODELS FOR THE NEXT GENERATION OF YOUNG MEN AND HOW THEY WILL TREAT WOMEN AND EVERYBODY AROUND THEM >> ABSOLUTELY. WHAT HE WITH HAVE DONE FROM A CULTURE STANDPOINT WITH 100 THIEVES IS — ANOTHER THING THAT’S ONE OF MY TOP PRIORITIES IS — REALLY TEACHING THE GAMING AUDIENCE HOW TO BE A NORMAL, CONTRIBUTOR TO SOCIETY. GAMER THAT ARE YOUNGER ARE REMINDED OF HOW YOU ARE SUPPOSED TO ACT. . >> WHEN WE MET HE WAS RECRUITING ONE OF THE BEST PLAYERS THE WORLD AT A CERTAIN GAME AND THAT PLAYER CAME OUT OF NOWHERE WHERE THE PLAYER HAD SAID CHOICE WORDS. WITHOUT EVEN BATTING AN EYE OR TALKING TO HIS BOARD HE HOLDS HIMSELF TO A HIGH MORAL STANDARD AND CONSIDERS HUNDRED THIEVES HIS BABY. HE — HE STOPPED RECRUITING THE PLAYER, SHUT DOWN THE DEAL. HE HAD IT, IT WAS DONE. THE PLAYER WAS GOING TO COME PLAY FOR THE ORGANIZATION AND HE SAID I DON’T WANT SOMETHING LIKE THAT REPRESENTING THIS BRAND. WE CAN’T SPEAK FOR THE REST OF GAMING BUT WITH MATT AT THE HELM AND THE STANDARD HE HAS HE SAID IT BEST THE IT’S ABOUT THE CULTURE AND THE PEOPLE YOU BRING IN. IT’S ABOUT NOT ONLY SETTING UP — YOU KNOW — WHAT WORKS. THEY SAY THEIR ROLE MODELS AND WHO HE IS PUTTING ON THE PLATFORM. THE NUMBER ONE MOST WATCHED FEMALE ON TWITCH IN THE WORLD. >> SHE IS THE BEST. >> SHE IS ONE OF OUR ENTERTAINERS. SHE IS A PART OF OUR STREAMING; OUR POD CASTS AND IS SUCH A ROLE MOOD EL FOR ALL OF THESE YOUNG GIRLS IN THE SPACE AND SHE IS AT THE HIGHEST LEVEL OF THE PLATFORM BECAUSE HE SAID I WANT GIRLS TO SEE HER AND KNOW THEY CAN BE LIKE HER. WITH SOMEONE AT THE FOREFRONT YOU WILL SEE A SHIFT FROM YOUR EXPERIENCE EARLY ON. >> YEAH. >> THAT’S THE HOPE. >> I SURE DO HOPE SO. IT — THE ESA SAYS 46% OF GAMERS WOMEN. 25% OF THE PROGAMING AUDIENCE IS WOMEN AND YET WE SEE AT THE WORLD CUP THERE’S NO WOMEN MA COMPETING. THERE’SING IN PHYSICAL THAT SEPARATES A BOY AND A GIRL PLAYING A GAME. THERE’S A CULTURE THAT SEPARATES AND KEEPS THE WOMEN AWAY. THAT SCARES THEM FROM WANTING TO PLAY AND BE A PART OF IT. WHAT IS THE BREAK DOWN, MEN TO WOMEN AT HUNDRED THIEVES >> I WOULD SAY WE ARE ONE OF THE LEADERS IN E SPORTS. I DON’T KNOW THE EXACT STATS. ITS BEEN VERY IMPORTANT FROM THE GROUND UP THAT WE HAVE DIVERSITY IN THE WORKPLACE. I THINK THAT WE ACTUALLY HAVE HIRED THE MOST WOMEN OUT OF ANY E PORTS ORGANIZATION. WE THREW OUR FIRST PUBLIC PARTLY AT TWITCH CON. ONE OF THE SCOOTERS’S ENTERTAINER, LITTLE DICKE EY. >> HE PREFORMED AT THE PARTY. FROM DAY ONE SHE IS OUR SENIOR MARKETING MANAGER. SHE WAS PROBABLY OUR 5th EMPLOYEE AT HUNDRED THIEVES. SHE THREW THE BEST PARTY WE HAVE SEEN. SHE DID IT FROM DAY ONE TO THE DAY OF THE PARTY. THREE MONTHS OF WORK WITHOUT ANY HELP AND SHE IS JUST LIKE A SHINING EXAMPLE OF NOT BECAUSE OF GENDER BECAUSE OF TALENT. TALENT IS TALENT. WE — WE HAVE SEARCHED THROUGHOUT THE ENTIRE INDUSTRY TO FIND PEOPLE LIKE JULIA AND WE ARE RECRUITING BETTER AND BETTER EMPLOYEES REGARDLESS OF WHERE THEY COME FROM. SO, IT’S SOMETHING THAT IS VERY IMPORTANT AND WE ARE TRYING TO SET THE STANDARD AND REALLY PUSH THE INDUSTRY TO DIVERSITY AND NOT DISCRIMINATE BECAUSE OF WHATEVER REASON. >> AND ONE THING IS YOU ARE AT THE MERCY OF THESE STREAMING PLATFORMS THAT COULD CHANGE THE RULES AND THAT MAY MAKE A DIFFERENCE. YOU SAID SOMETHING INTEREST WHICH IS A TWO WAY STREET. YOU CAN’T HAVE A HIGHWAY WITHOUT THE CARS IS WHAT YOU SAID. WHEN A BIG STREAMER MOVES LIKE THAT. LIKE NIN J.A. IS A GREAT EXAMPLE. DID HE MAKE THE RIGHT DECISION >> HE MADE A GREAT DECISION FOR HIMSELF. >> SURE HE MADE A LOT OF MONEY. I HAS GONE PAST WHAT IT MEANS TO BE A PROFESSIONAL GAMER. I TALKED ABOUT THIS IN A VIDEO I RECORDED YESTERDAY. BECAUSE WE RECEIVED HIS COOPERATION AND I UNBOXED IT AND JUST TO — JUST TO LOOK AT WHERE HE STARTED BACK IN THE DAY WHEN I WAS COMING UP ON HALO TO FAST FORWARD LIKE SEVEN, EIGHT, NINE, TEN YEARS LATER, TO BE LIKE THE BIGGEST NAME IN TWITCH AND GOING ON JIMMY FALLEN AND WRITING BOOKS AND DOING ALL THIS CHARITY WORK. SCOOTER — NIN J.A. IS JUST A FANTASTIC EXAMPLE OF WHAT HARD WORK WITH BREED IF YOU KEEP YOUR HEAD DOWN AND DO WHAT YOU BELIEVE IN AND BE PASSIONATE ABOUT WHAT YOU ARE WORKING ON. SO, I THINK THAT HE MADE A GREAT DECISION FOR HIMSELF AND HIS FAMILY. NOW WILL THAT WITH STAND THE TEST OF TIME WILL VIEWER SHIP TRANSFER I DON’T KNOW THE ANSWER TO THAT. I THINK STREAMING IS IN A MUCH DIFFERENT PLACE THAN WHEN I WAS IN HIS SHOES. I’M HAPPY FOR HIM AND I THINK THAT — STREAMING AND JUST ENTERTAINMENT, WE DON’T WANT MONOPOLIES. WE WANT COMPANY THAT ARE EMPOWERING THE COMMUNITY THAT IS GOING TOWARD THEIR WEBSITE AND I THINK IT’S IMPORTANT THAT TWITCH AND MIKER HAVE HAVE A VARIETY OF TALENT. >> THE OTHER SIDE OF THAT. I’M SURE ARE YOU FAMILIAR WITH NICK — HE WAS ON HUNDRED THIEVES FOR A LONG TIME MANY HE SIGNED WITH TWITCH AND HE LEFT HUNDRED THIEVES AND SIGNED FACE CLAN AND THE RUMOR WAS THAT HE WAS PROMISED 5% OF HUNDRED THIEVES. YOU ARE AT $160 MILLION VALUATION SO THAT’S A PRETTY PENNY. IS THAT WHAT HAPPENED >> IT’S A VERY DELICATE SITUATION THAT I PROMISE YOU THAT I CANNOT EXPLAIN AT THIS TIME. >> THAT’S FINE. >> I RESPECT NICK. >> I WILL DO THIS FOR YOU. — I HAVE HAD PEOPLE DEFEND ME IN THE PAST AND STUFF. MATT NEVER BROKE HIS WORD ON ANYTHING THAT HE DID. I THINK SOMETIMES PEOPLE USE THEIR PLATFORM IN THIS WORLD TO SAY WHAT THEY WANT TO SAY AS LONG AS THEY HAVE AN AUDIENCE TO SAY IT TOO. THINGS AREN’T ALWAYS BASED ON FACT. HE HAD A RIGHT TO COME OUT AND TELL THE TRUTH AND HE DECIDED TO TAKE THE HIGH ROAD WHICH HE WILL CONTINUE TO DO ON THIS STAGE AND MORE SHOULD TAKE THAT APPROACH. HE DOESN’T NEED — I WILL STEP UP AND SAY YOU DON’T NEED TO DEFEND YOURSELF. I APPRECIATE THE QUESTION, BUT YOU DON’T HAVE TO DEFEND YOURSELF FOR SOMETHING YOU DIDN’T DO ANYTHING WRONG. NICK IS A GOOD GUY AND SHOULD HAVE A GOOD CAREER BUT SOME OF THE THINGS SAID IN PUBLIC THAT MATT NEVER RESPONDED TO I WAS PROUD. HE DID THE RIGHT THING AND LET THE ORGANIZATION SPEAK FOR ITSELF. WE ARE STARTING — ONE THING I GET T FRUSTRATED ABOUT IS WE ARE IN A SOCIETY WHERE PEOPLE CAN SAY ANYTHING THEY WANT, INCLUDING OUR PRESIDENT AS LONG AS THEY HAVE AN AUDIENCE AND WE NEED TO GET BACK TO A PLACE WHERE WE HOLD PEOPLE RESPONSIBLE FOR WHAT THEY ARE SAYING — YOU DON’T HAVE TO DEFEND YOURSELF. ARE YOU A GOOD GUY AND RUN A GREAT ORGANIZATION. THAT ONE THING HAPPENED AND I THINK THE WAY HE HANDLED HIMSELF BY STAYING QUIET, WISHING NICK THE BEST OF LUCK WAS A TESTMENT TO THE TYPE OF LEADER YOU WANT IN AN ORGANIZATION. >> YEAH AND I — I APPRECIATE THAT VERY MUCH. [APPLAUSE]. I HAVE A TON OF RESPECT FOR NICK AND WHAT HE HAS DONE FOR HIS CAREER. I HAVE KNOWN HIM FOR A LONG TIME. WE COME FROM SIMILAR PLACES. HE HAS BEEN WORKING VERY HARD. JUST ABOUT AS LONG AS ME TO TRY TO BUILD A CAREER THAT HE IS SUSTAIN A FAMILY AND BUILD SOMETHING THAT HE — HE CAN TRULY BELIEVE IN. I WISH HIM THE BEST. I THINK HE WILL GO ON AND DO GREAT THINGS. HE JUST SIGNED A TWITCH CONTRACT. NICK IS DOING REALLY WELL AND I HOPE HE CONTINUES TO DO WELL. >> SEE, HIGH ROAD,. >> YOU WERE RIGHT, SCOOTER. >> I HAVE TWO QUICK ONES. ITHACA HOLDINGS. YOU CAN TELL US. THEY ARE A LOT OF FOUNDERS WHO ARE LOOKING FOR CHECKS. WHAT IS YOUR INVESTMENT STRATEGY WHAT ARE YOU LOOKING FOR >> IT’S FUNNY BECAUSE I THINK PEOPLE — JUST RECENTLY FOUND OUT I MAKE INVESTMENTS. >> HE MAKES INVESTMENTS. >> YEAH. THEN YOU GET PHONE CALLS. NO, I SAY LOOK — I THINK — WHAT I LOOK FOR PERSONALLY IS YOU ALWAYS WANT A GREAT IDEA. I ALSO WITH OUR TEAM WE LOOK FOR GREAT FOUNDERS. GREAT FOUNDERS WILL PIVOT AND — I THINK YOU WILL SEE PROFIT AND — BUILD A BUSINESS. I THINK THAT IT’S IMPORTANT WHEN YOU MAKE THE INVESTMENT YOU HAVE A BURN THE SHIPS MENTALITY. THEY USED TO ARRIVE ON THE SHORES OF THEIR ENEMY, AND SAY BURN THE SHIPS, THE ONLY WAY YOU GO HOME IS IN THE SHIPS OF YOUR ENEMY, THERE’S NO RETREAT. A GOOD FOUNDER FINDS A WAY TO BOYFRIEND THE AND MOVE INTO A PLACE WHERE THEY CAN BUILD A REAL BUSINESS REGARDLESS OF THE BUMPS IN THE ROAD. THAT’S WHAT I SAW MATT. THAT’S WHAT I SAW — WITH THE GUYS AT DISCORD AND — IN AT LEAST IN THIS SPACE. I HAVE SEEN IT BEFORE AND BEEN FORTUNATE TO BE A PART OF REALLY GOOD ONES AND SOME THAT I WILL BET ON THE FOUNDER THE NEXT TIME. IT DIDN’T WORK OUT. >> YOU WANT TO FOCUS IN ON E SPORTS AS A WAY TO BUILD THAT NETWORK EFFECT OF WE HAVE 100 THAEFRS. WE HAVE THESE AND KIND OF — TIE THINGS TOGETHER >> I TRUST THEM AND THE EXPERIENCE AT THIS SPACE. FOR ME WHEN I LOOK AT EVERYTHING ELSE, I THINK I HAVE THREE KIDS UNDER FIVE RIGHT NOW. I GOT TO FOCUS ON THAT AND — I HAVE MADE MY BETS AND I HAVE A BUSINESS TO RUN MYSELF. AND RIGHT NOW I HAVE — I HAVE TO WORRY ABOUT DIAPERS. >> OKAY. >> SCOOTER IS BEING HUMBLE. IS HE VERY GOOD AT BRINGING COMPANIES TO PROFIT. WE WANT TO WORK WITH HAD HIM AT HUNDRED THIEVES. >> WE IS NOT –>>THERE IS ON THERE’S A LOT OF PEOPLE THAT I LOVE, IF NOTHING MATTERED, IT WOULD BE A TIE BETWEEN TIM THE PET MEN AND DOCTOR DISRESPECT FOR>>PHENOMENAL ENTERTAINERS, THEY HAVE PHENOMENAL BUSINESSES, AND THEY DON’T INTERSECT SOMETIMES, FRIENDS OF THE TEAM, REPRESENTING THE ORGANIZATION, AND THEY ARE FANTASTIC. THOSE ARE 2 OF MY FAVORITES. A BIG ROUND OF APPLAUSE. YOU’RE NOT GOING TO WANT TO LEAVE. I’VE BEEN TALKING ABOUT GAME OF THRONES ALL MORNING. >>>OUR NEXT GUEST IS MAISIE WILLIAMS.>>YES. HELLO.>>MAISIE.>>THANK YOU FOR HAVING ME.>>THANK YOU FOR COMING.>>THIS IS LOVELY APPEAR. — UP HERE. >>GAME OF THRONES OBVIOUSLY, SHE DEFEATED EVIL, WE ALL LOVE HER, BUT ALSO A VERY TALENTED ENTREPRENEUR, SHE STARTED A COMPANY CALLED DAISY, WHERE DID THAT COME FROM, WHY? >>I HAVE A COFOUNDER, DOM, WAS BACKSTAGE, WE WORKED TOGETHER ON THE MOVIE, AND HE CAME TO ME ONE DAY AND SAID THAT THERE IS A HUGE PROBLEM WITH BREAKING INTO CREATIVE INDUSTRIES. THE SERIES OF EVENTS WHO GOT ME TO WHERE I AM NOW, WERE MAINLY BASED ON LUCK AND TIMING, AND DIFFICULT TO RE-CREATE, WE SPOKE ABOUT THE PROBLEMS, HOW PEOPLE REALLY STRUGGLE WITH CONNECTIVITY, AND HAVE TROUBLE FINDING SOMEONE WHO COULDN’T — THEY CAN COLLABORATE WITH, EVEN AT A SIMPLE LEVEL, THE IDEA OF DAISY, WE WANTED TO CREATE A SOCIAL NETWORK, BUT IT WAS MORE FOCUSED ON THE CREATIVE INDUSTRIES, AND FOCUSED ON YOUR WORK, RATHER THAN YOUR PRIVATE LIFE.>>YOU FUND RAISED A LITTLE BIT ALREADY, YORTY RAISED IT, I WAS TALKING BEFORE, THERE ARE A LOT OF SIMILARITIES. I HAVE TO TRY REALLY HARD NOT TO RECYCLE QUESTIONS. LOTS OF CORRELATING THINGS, BUT ONE OF THE THINGS THAT I WAS TALKING TO HIM ABOUT, IT WOULD BE INTERESTING TO HEAR FROM YOU, FUNDRAISING, I’M SURE IT IS EASY TO GET YOUR FOOT IN THE DOOR, BUT MAYBE THINGS GET A LITTLE BIT MORE DIFFICULT FOR YOU ONCE YOU ARE IN THE ROOM? WHAT WAS THAT LIKE? >>DEFINITELY, JUST BECAUSE SOME THINGS, SUBLIMITY — OUR CELEBRITY INDOORS, DOESN’T MEAN IT’S GOOD. [ LAUGHTER ] THERE IS NO PROBLEM REACHING OUT TO PEOPLE ON LINKEDIN, TWITTER, AND GETTING IN THE ROOM WITH THESE AMAZING VCS, BUT YOU HAVE TO PITCH THEM, THEY ARE NOT JUST GOING TO GIVE IT TO YOU, YOU HAVE TO CONVINCE THEM. THEY HAD A LOT OF REALLY AMAZING ADVICE AS WELL, THINGS THAT WERE KIND THINGS THAT DON’T, AND THE REASONS WHY, THEY HAD A LOT OF ADVICE FOR ME AS WELL, GOING THROUGH THIS, HOW TO MANAGE THIS INSANE PLATFORM THAT I HAVE, BUT HOW TO MAKE A REALLY GOOD PRODUCT. GETTING IN THE ROOM IS FINE, BUT YES, CONVINCING THEM IS LIKE CONVINCING SOMEONE TO HAVE A ROLE, IN AN AUDITION. >>YOU HAVE ESSENTIALLY GROWN UP BEFORE OUR EYES AND LIVED UNDER IMMENSE SCRUTINY. DO YOU THINK THAT GAVE YOU THE SKILL SET TO GO AND CONFIDENTLY AND PITCH, OR IS IT A COMPLETELY DIFFERENT SET OF SKILLS? >>NO, I THINK HAVING DETERMINATION TO CREATE A CAREER WITHIN THE CREATIVE ARTS, IT TAKES A LOT OF SELF BELIEF, AND I THINK FOUNDING A COMPANY IS THE SAME, A LOT OF PEOPLE LOOK AT YOU LIKE YOU’RE CRAZY YOU ARE PITCHING THEM THE GREATEST IDEA EVER, AND PEOPLE SOMETIMES DON’T GET IT, IT IS NOT FOR THEM, IN THOSE MOMENTS YOU DO NEED A LOT OF SELF BELIEF, BECAUSE OTHERWISE YOU KIND OF STOP BEFORE YOU HAVE STARTED.>> RIGHT. SO DAISY CONNECTS ARTISTS AND CREATORS YOU WANT TO COLLABORATE AND WORK TOGETHER, AND THEN THEY’VE GOT THIS THING THAT THEY BUILT AND WORKED ON TOGETHER, WHAT HAPPENS NEXT? CAN DAISY SUCCEED WITHOUT SKILLED DISTRIBUTION OR BROKERAGE FOR THOSE DEALS, SPONSORSHIPS, WHATEVER IT MIGHT BE?>>YES, IT’S ACTUALLY WHERE THE COMPANY IS SORT OF HEADING RIGHT NOW, WE WANT TO WORK ON PARTNERSHIPS WHERE OUR USERS CAN HAVE A REAL BRIEF FROM A REAL CLIENT, AND PITCH THEIR IDEAS, AND HAVE A BUDGET, AND BE PAID FOR THEIR WORK, ULTIMATELY ONE OF THE MOST DIFFICULT THINGS IN CREATIVE INDUSTRIES, GET PAID FOR WHAT YOU ARE DOING, AT THE MOMENT, A REALLY WONDERFUL COMMUNITY THAT IS THRIVING AND CREATING AMAZING PROJECTS, IN TERMS OF TRANSFERRING THAT INTO THE REAL WORLD, AND HOW PEOPLE ACTUALLY GET JOBS, THESE PARTNERSHIPS ARE GOING TO BE REALLY GREAT FOR THAT. >>YOU CHOSE NOT TO PUT ANY FOLLOWER ACCOUNTS ON DAISY, I’M TRYING NOT TO SAY MAISIE, AND ARIA. [ LAUGHTER ] YOU CHOSE NOT TO PUT FOLLOW ACCOUNTS ON THEIR, ARE THERE LIKE ACCOUNTS CLICK >>WE HAVE COMMENTS, YOU CAN ENGAGE WITH PEOPLE, WE WERE SPEAKING ABOUT DOING THIS LIKE A REPUTATION POSSIBILITY. >>LIKE A CLOUD SCORE. >>HOW MUCH YOU INTERACT, WHEN IS OUTSIDE OF YOUR GROUP, AND HOW MUCH YOU POST, THE WORK THAT YOU ARE DOING, BUT THERE’S — SOMETHING LIKE THAT TAKES A LOT OF THOUGHT, YOU CAN’T REALLY TAKE IT BACK ONCE YOU PUT IT OUT THERE, THAT ONE WAS KIND OF DIFFICULT, REWARDING PEOPLE, FOR THESE TYPICAL KIND OF METRICS, CAN BE QUITE DAMAGING, AND CAN MAKE YOU FEEL , JUST BECAUSE YOU’RE NOT POPULAR OR TALENTED, THAT IS NOT TRUE, AND THE THING ABOUT CREATIVE ENDEAVORS IS THAT, YOU KNOW, THE THINGS THAT ARE POPULAR ARE NOT NECESSARILY THE BEST THINGS, AND JUST BECAUSE SOMETHING YOU DO IS NOT LIKED BY MANY PEOPLE, DOESN’T MEAN IT’S NOT INCREDIBLE, WE WANTED TO TAKE THAT METRIC AWAY, AND JUST HAVE PEOPLE BE ABLE TO CONNECT WITH WHOEVER THEY WANT, AND NOT BE A STATUS THING.>>AND YOU CAME OUT OF NOWHERE, AND I’M SURE YOUR FOLLOWER ACCOUNTS, AND SOCIAL MEDIA IS UP AND UP, TONS OF PRESSURE, DO YOU WISH THAT FOLLOWER ACCOUNTS AND LIKE ACCOUNTS WENT AWAY ACROSS THE WHOLE INTERNET? >>I SEEM TO BE LOSING FOLLOWERS AT THE MOMENT. IT’S NICE. >>FOLLOW HER. PLEASE. [ LAUGHTER ] >>I LIKE IT, YOU START TO FIND YOUR AUDIENCE, FOR A LONG TIME I WAS PART OF THE SHOW THAT HAD ITS OWN FOLLOWING, AND NOW THAT I’M DOING MY OWN ADVENTURES, AND WHATEVER IT IS THAT I AM DOING, I AM FINDING THE PEOPLE THAT REALLY LIKE THAT, RATHER THAN JUST PEOPLE WHO LIKE THE SHOW, SO THE OTHER THING IS THAT IT’S HARD TO FIND YOUR NICHE, AND WITH DAISY, THAT’S KIND OF WHAT IT’S ALL ABOUT, HELPING YOU FIND YOUR GROUP, RATHER THAN JUST A LONELY EXPERIENCE. >>DO YOU ACTUALLY GO ON TO DAISY AS A USER AND COLLABORATE? WHAT ARE THE CHANCES THAT PEOPLE SIGN UP FOR DAISY, AND YOU SAY YOU CAN WORK WITH ME ON THIS? >>PEOPLE REQUEST ME TO BE PART OF THE PROJECT ALL THE TIME. >>I BUT THEY DO. >>THERE INTERESTING, I LOVE TO READ ABOUT THEM, IN TERMS OF ACTUALLY WORKING ON THINGS, I’VE BEEN DOING DAISY AT THE MOMENT, AND WE ARE GOING TO START RAISING IT AGAIN, SOON, FOUNDING A COMPANY, TAKES A LOT OF TIME, I WOULD LIKE TO DO MORE CREATIVE ENDEAVORS, THE PEOPLE WANT ME TO BE INVOLVED IN IT, AND EVEN THEN, IT IS GREAT FOR THE MARKETING TEAM, IF THEY FIND SOMETHING REALLY INCREDIBLE, WE WOULD LOVE TO BRING THOSE CREATORS INTO THE MARKETING TEAM FOR A SMALL CAMPAIGN AND CREATE SOMETHING WITH THEM. THE DAISY COMMUNITY, ALSO THE PEOPLE WHO CREATE DAISY CONTENT, AND MARKETING, EVERYTHING LIKE THAT, IT IS REALLY NICE TO HAVE THAT FLOW, I GUESS. >>A BIT OF A VIRTUOUS CYCLE. >>DEFINITELY. >>ONE OF OUR WRITERS WROTE AN AMAZING PIECE ABOUT TIKTOK, AND HOW MARK SODERBERG DOESN’T UNDERSTAND IT, BUT I’M CURIOUS WHAT YOU THINK ABOUT THIS IDEA OF REMIXING CONTENT AS OPPOSED TO CREATING SOMETHING ORIGINAL, SOMETHING MORE AUTOBIOGRAPHICAL, TAKING THIS OTHER CONTENT AND MIXING IT UP, DO YOU THINK IT MAKES PEOPLE MORE CREATIVE OR LESS CREATIVE BECAUSE THEY ARE RECYCLING THINGS? >>I THINK WHEN YOU LIMIT VARIABLES THAT YOU USE, FOR HE CREATIVE IN DENVER, IT DOES MAKE YOU MORE CREATIVE, YOU HAVE TO THINK OUTSIDE OF THIS MUCH SMALLER BOX, WHICH I REALLY LOVE, AND I THINK THIS WHOLE RECYCLED MEME AFTER MEME, EDITS UPON EDITS, EVEN THE SPONGEBOB ONE THAT’S GOING AROUND, THE EPISODE WAS SO LONG AGO, IT KEEPS COMING AROUND AND AROUND, IS REALLY EXCITING, IT CAN HAVE A NEW LIFE, WE ARE ALL INSPIRED BY EVERYTHING WE SEE EVERY DAY, AND I DON’T THINK THAT — I THINK REALLY CELEBRATING IT, AND DOING REALLY WELL.>>ONE OF THE DIFFERENCES, I’M SORRY TO KEEP MAKING THE REFERENCE, JUST GORDON LEVIN SAID SPECIFICALLY, HIT RECORD IS NOT TO CREATE A VIABLE CAREER, IT IS REALLY ABOUT CONNECTING WITH LIKE-MINDED CREATORS TO BUILD SOMETHING TOGETHER.>>I THINK DAISY IS A DIFFERENT APPROACH. YOU’RE TRYING TO GET YOUR FOOT IN THE DOOR? >>YES, WE WANT TO TRY TO BRIDGE THE GAP IN ANY WAY THAT WE CAN. AT THE MOMENT WE HAVE USERS THAT COME ON FOR FUN, WHICH IS ABSOLUTELY FINE AND CELEBRATED, AND EVEN IF IT IS MORE OF A HOBBY, IT’S WHERE PEOPLE CAN UPLOAD THEIR WORK AND HAVE A GOOD TIME, BUT IN TERMS OF PEOPLE THAT ARE TRYING TO MAKE SOME SORT OF AREA FOR THEMSELVES TO BE RECOGNIZED FOR THE WORK THEY DO, PEOPLE DON’T KNOW WHERE TO START RIGHT NOW, IF YOU DON’T KNOW ANYONE IN THE CREATIVE INDUSTRIES, YOU DON’T KNOW WHERE YOU BEGIN, SO WE WE ARE TRYING TO CREATE SOMEWHERE WHERE THERE ARE REAL OPPORTUNITIES IN CLIENTS, AND PEOPLE TO FINANCE WORK THAT YOU ARE DOING. WE WANT TO CREATE A BIG HUB OF JEN Z CREATORS, — GEN Z CREATORS, IN ORDER TO LAUNCH THEIR CAREER. >>WHAT IS THE INTERNET LIKE FOR YOU? I’M NERVOUS GOING ON THE INTERNET, I’M NOBODY, YOU HAVE A SLICE OF PEOPLE THAT LOVE YOU, AND THEN PEOPLE WHO LOVE YOU IN A REALLY CREEPY WAY, AND THEN YOU HAVE PEOPLE MAYBE WHO DON’T LOVE YOU AS MUCH, AND IT IS JUST A LOT. WHAT IS IT LIKE FOR YOU TO BE A HUMAN ON THE INTERNET? >>IT IS STRANGE. BECAUSE I MEAN, THE INTERNET ISN’T REALLY BUILDS — BUILT — IT IS HARD TO BE ON THE INTERNET, BECAUSE OF THE FACT THAT YOU — YOU HAVE TO POST EVERYTHING TO BE SEEN ON THE INTERNET, YOU CAN’T BE QUIET ON THE INTERNET AND PEOPLE GET TO KNOW YOU. >>WE CAN, BUT YOU CAN’T. >>I GUESS SO. BUT BEING SEEN ON THE INTERNET, IS BECAUSE YOU POSTED SOMETHING OR HAVE ACTIVELY DONE SOMETHING. IT IS A STRANGE THING, IT IS A SIDE OF MY PERSONALITY ON THE INTERNET, FUN AND LOUD, AND EXTROVERTED I GUESS. BUT THERE IS A SIDE OF MYSELF THAT I KEEP FOR MYSELF AND THE PEOPLE THAT I KNOW IN PERSON, AND I MEET DAY TODAY — TODAY — DAY-TO-DAY, AND IS DIFFERENT. >>ONE OF THE QUESTIONS I WANT TO ASK YOU IS AROUND THE MEDIA INDUSTRY IN GENERAL, IT IS POSSIBLE THAT GAME OF THRONES WAS THE LAST SHOW THAT WE ALL TUNE INTO WEEKLY AND GET TOGETHER WITH OUR FRIENDS AND TALK ABOUT FOR THE NEXT WEEK. AND MAKE THEORIES ABOUT. WHAT ARE YOUR THOUGHTS ON SCHEDULED RELEASES VERSUS BINS YOU DOING? >>EVEN WITH SHOWS THAT I CAN BINGE VIEW, SHOWS THAT COME ON TO NETFLIX, A WHOLE SEASON AT ONCE, I TRY TO PACE MYSELF, I DON’T KNOW, IT IS NICE TO HAVE SUSPENSE, AND EVERYTHING IS SO FAST, I THINK IT WOULD BE NICE IF THESE THINGS LASTED LONGER. AND THE SHOW, YOU TYPICALLY WOULD’VE HAD LAST 10 WEEKS OF THE TIME, SOMETIMES THE BUILDUP TO THE SHOWS THAT ARE ONLINE IS LONGER THAN ANYONE IS TALKING ABOUT THEM, BECAUSE THEY’VE WATCHED THEM IN TWO DAYS, I THINK THAT’S A REAL SHAME, THE AMOUNT OF WORK THAT GOES INTO CREATING CONTENT LIKE THIS, AND YOU HAVE TO WAIT A WHOLE YEAR UNTIL THE NEXT ONE, IT IS A SHAME THAT EVERYTHING HAS BECOME SO FAST. BUT YOU KNOW, THE INTERNET, AND THAT WAY OF CONSUMING MEDIA, IS REALLY THE WAY FORWARD, A LOT OF COMPANIES THAT ARE MORE TRADITIONAL, LIKE CABLE, NETWORK SHOWS, THEY ARE NOW SORT OF PUMPING MONEY INTO THESE PLATFORMS FOR ME TO BE ABLE TO DO — FOR THEM TO BE ABLE TO DO STREAMING SHOWS, PEOPLE ARE MOVING IN THAT DIRECTION DEFINITELY, BUT I THINK IT IS A BIT OF A SHAME SOMETIMES. >>NOT ONLY FOR THE PEOPLE WHO CREATED A, YOU ARE RIGHT ABOUT THAT, THE HYPE CYCLE, BUT ALSO I FEEL LIKE YOU DON’T SPONGED IN QUITE AS MUCH AS A VIEWER EITHER? >>TRUE, YOU JUST MOVE ON, THE EPISODES END UP BLURRING TOGETHER, I CAN’T TELL WHICH EPISODE I’M SPEAKING ABOUT, IT BECOMES ONE BIG BLUR OF A SEASON, WHERE IS WHEN YOU HAVE SOMETHING STAGGERED, THE WHOLE WEEK, WONDERING WHAT’S GOING TO HAPPEN NEXT, THAT’S QUITE A NICE WAY OF CONSUMING SOMETHING.>>WITH THE STREAMING WARS GOING ON, IT’S AMAZING FOR ALL OF US, WE HAVE 1 MILLION THINGS TO CHOOSE FROM, GO WATCH WHATEVER YOU WANT, AND FINDING THE TIME TO WATCH IT ALL IS THE PROBLEM, BUT FOR TALENT ON THE OTHER END, DOES IT MAKE A DIFFERENCE? IS THIS A GOOD OR BAD THING, THE FACT THAT WE HAVE SO MANY PLATFORMS THAT ARE TRYING TO PUSH CONTENT TO US? >>YOU KNOW, I THINK AS LONG AS YOU ARE HAPPY, AND LIKE THE WAY YOU ARE CHOOSING TO LIVE YOUR LIFESTYLE, IT SITS RIGHT WITH YOU, I DON’T KNOW THAT IT IS A PROBLEM HOW YOU SPEND YOUR TIME.>>FOR YOU THOUGH, AS AN ACTRESS, LIKE –>>I THINK IT’S GREAT, I LOVE TO BE ABLE TO WATCH EVERYTHING, I SEE THAT AS BEING MY JOB, TO KNOW WHAT GOOD TV THERE IS, WHAT GOOD FILMS, WHAT IS BEING FINANCED, WHAT NEW NETWORKS ARE TAKING OFF, AND I FEEL I NEED TO KNOW THAT, I PARTAKE TO A CERTAIN EXTENT, BUT ALSO STARING AT A SCREEN ALL DAY MAKES ME INSANE, AND I CAN’T SLEEP AT NIGHT. I HAVE TO BALANCE THAT AND GO OUTSIDE SOMETIMES. THAT I DO LOVE TO HIDE AWAY AND WATCH YOUTUBE, AFTER NETFLIX, AMAZON, TV, MOVIES, AND START AGAIN FROM THE BEGINNING, GO BACK TO YOUTUBE, I LOVE TO DO THAT JUST AS MUCH IS ANYONE ELSE I THINK, AND YES, AS LONG AS I DON’T FIND IT DAMAGING WITHIN A DAY, I AM HAPPY TO DO IT FOR HOURS AND HOURS. [ LAUGHTER ] >>YOU TOLD ME THAT YOU DON’T REALLY HAVE UPCOMING PROJECTS IN TERMS OF ACTING STUFF, BUT DO YOU FEEL PRESSURE, GAME OF THRONES IS THE MOST POPULAR AND AWARD-WINNING SHOW THAT HAS EVER EXISTED ON THE PLANET. >>IT WAS SUCH AN AMAZING OPPORTUNITY, AND IF I DON’T DO ANYTHING LIKE THAT AGAIN, I’M NOT THAT MAD ABOUT IT.>>IT WAS AN OVERNIGHT THING. >>SORRY, SPOILERS. [ LAUGHTER ] >>IT WAS PRETTY ONE-OF-A-KIND AS FAR AS ANYTHING LIKE THAT GOES, AND I THINK MY GOAL NOW IS NOT TO DO SOMETHING LIKE THAT, BUT TO DO SOMETHING THAT PEOPLE MAYBE DON’T EXPECT, AND DO — PLAY A ROLE THAT PEOPLE WOULDN’T IMAGINE ME AS. BECAUSE I THINK THAT WOULD BE A LOT MORE FULFILLING THAN TRYING TO SURPASS ANYTHING THAT I’VE ALREADY DONE.>>YOU ARE 22? >>YES. >>YOU HAVE A LONG ROAD AHEAD OF YOU, WILL BE MORE ACTING, DAISY IS YOUR FULL-TIME FOCUS, IS IT ENTREPRENEURSHIP? >>I THINK EVERYTHING, I LOOK AT MY FUTURE, AND I WILL ALWAYS BE WITHIN CREATIVE INDUSTRIES I THINK, AND I HAVE LOVED FOUNDING DAISY, AND TRYING TO SEE WHERE WE GO IN THE NEXT FEW YEARS, AND WHAT HAPPENS, I HAVE ENJOYED MY TIME DOING THAT, BUT I THINK I WILL ALWAYS BE DOING SOMETHING CREATIVE, VERY OPEN TO THE FUTURE THAT IS COMING. I’VE NEVER REALLY HAD A PLAN, OR A GOAL, IT’S GOING OKAY. >>IT’S GOING GRADE. [ LAUGHTER ] >>KEEPING AN OPEN MIND IS GOOD. [ LAUGHTER ]>>>WE HAVE 1 MINUTE LEFT, WE WILL DO SOMETHING I LIKE TO DO, THE LIGHTNING ROUND, EITHER/OR QUESTIONS, YOU CAN PASS ON ONE, BUT I WOULD LIKE IT IF YOU DIDN’T. A REALLY EASY ONE. ARE YOU A CAT PERSON OR A DOG PERSON? >>DOG. >>GOOD ANSWER.>>NICK, KEVIN OR JOE JONAH’S? >>JOE. >>THAT IS EASY. DB WISE? >>YES. >>SORRY DAVID. >>NETFLIX OR APPLE TV PLUS? FOR ANY PROJECT? >>NETFLIX. >>DRAGONS OR DIRE WOLVES? >>I SEE THAT, DIRE WOLVES, BUT REALLY IS DRAGONS.>>THAT’S NEWS. [ LAUGHTER ] THE PRESS ARE LIKE OH MY GOD. SHE TURNED ON THE DIRE WOLVES! ACTING OR ENTREPRENEURSHIP? >>I’VE BEEN DOING A LOT OF ENTREPRENEURSHIP RIGHT NOW, SO I WILL GO WITH ACTING, BUT IT WILL SWITCH.>>ARE YOU MORE OF A PARTY PERSON OR WOULD YOU RATHER BE IN BED? >>BE IN BED. >>ME, TOO.>>TWITTER OR INSTAGRAM?>>I SPEND MORE TIME ON INSTAGRAM.>>INSTAGRAM. >>LAST ONE, JOHN SNOW OR SANSA CLICK >>SANSA. >>THINK YOU SO MUCH. >>THANK YOU FOR HAVING ME, HAVE A GREAT DAY.>>>IT IS LUNCH TIME, GO AHEAD AND ENJOY LUNCH, $10 OFF SWEET GREEN, THERE WILL BE SOMETHING ON THE EXTRA CRUNCH STAGE, AT 12:40. HOW TO BUILD A SEX CRUNCH. >>>MORE APIS ARE CREATED ACROSS THE ORGANIZATION, WITH THIS INCREASE, IT CAN BECOME MORE CHALLENGING FOR DEVELOPERS TO FIND THESE INTERNAL APIS AND USE THEM WHEN DEVELOPING NEW SOFTWARE, THAT IS WHERE RAPID API FOR TEAMS CAN HELP, IT ENABLES DEVELOPMENT TEAMS TO PUBLISH THEIR INTERNAL APIS INTO A PRIVATE WORKSPACE, THEY CAN FIND ANY INTERNAL ONE, VIEW THE DOCUMENTATION, TESTED AND COLLECT — CONNECT DIRECTLY. AND SHARE INFORMATION RIGHT IN RAPID API. TEAM MEMBERS CAN SUBSCRIBE TO ANY PUBLIC API AVAILABLE ON THE RAPID API MARKETPLACE, AND THE ENTIRE TEAM CAN SEE AND USE THE DESCRIPTION. IT MAKES IT EASIER TO SHARE ON APIS, GET ON RAPID API.COM/TEAMS. ♪>>>WE LIKE TO PARTNER WITH LOCAL ENTREPRENEURS WHO USE TECHNOLOGY, WE BACK LOCAL TEAMS, THEY KNOW THEIR CUSTOMERS BEST, AND THE BEST WAYS TO MAKE THE RIGHT DECISIONS, OPERATING EXPERTISE, AND OH — GLOBAL SCALE. OUR TEAMS LOVE BUILDING COMPANIES WHERE VALUE CAN MAKE A DIFFERENCE. AS WELL AS INVESTMENTS AND COMPANIES, WE ARE BUILDING MEANINGFUL GLOBAL DIFFERENCES IN CLASSIFIEDS, FOOD DELIVERY AND MORE. AND WE NEVER SIT STILL, WE ACTIVELY SEEK OPPORTUNITIES TO CREATE VALUE OVER THE LONG TERM, IT’S WHAT KEEPS US MOVING FORWARD. ♪ ♪♪ ♪>>>WHAT DID YOU COME TO THIS WORKSHOP? TO LEARN. AND WHAT THEY ARE SUPPOSED TO GET. >>WE WANT TO ASK QUESTIONS LIKE WHY, THE BIG QUESTION I ASK IS WHAT IF, A DIFFERENT WAY OF THINKING AT STAMFORD — STANFORD THAN ANY OTHER UNIVERSITY IN THE WORLD. >>I WAS GETTING STALE, IT IS TIME FOR ME TO MOVE ON, AND LOOK FOR GREATER THINGS, AND HAVE MORE IMPACT.>>>AT LOCKHEED MARTIN, WE ARE ON A MISSION. WHEN MILLIONS OF PEOPLE ARE COUNTING ON YOU, YOU CAN COUNT ON US. TO BUILD THE IMPOSSIBLE, TO INVENT THE INCONCEIVABLE, AND SOLVE EVERY PROBLEM WITH SPEED AND RELIABILITY. AN EXPOSITION OF THE GREATEST IMPORTANCE TO YOU AND TO US. >>>FACEBOOK JUST REINVENTED DIG NO MONEY, THE LIBRA CRYPTO CURRENCY WILL LAUNCH NEXT YEAR, IT IS MORE LIKE PAYPAL THAN BITCOIN, DESIGNED TO BE EASY ENOUGH FOR EVERYONE TO USE, BUT COMPLICATED TO UNDERSTAND, I WILL BREAK IT DOWN FOR YOU NICE AND SIMPLE, LIBRA IS LIKE CASH INSIDE YOUR PHONE, YOU CAN BUY THEM THROUGH WALLET APPS, OR THROUGH GROCERY AND CONVENIENCE STORES, CASH IN YOUR LOCAL CURRENCY LIKE DOLLARS, AND GET NEARLY THE SAME NUMBER OF LIBRA COINS, WHICH ARE REPRESENTED BY THE WAVY THREE LINE EMOJI INSTEAD OF THE DOLLAR SYMBOL, YOU HAVE TO VERIFY THE IDENTITY WITH A PHOTO ID, YOU WILL BE ABLE TO SPEND IT WHILE ONLINE SHOPPING, OR PAY FOR UBER OR SPOT A FIVE, THEY HAVE PARTNERED WITH FACEBOOK TO MAKE LIBRA POPULAR. SINCE IT IS ALMOST FREE TO MOVE ADDITIONALLY FROM ONE ACCOUNT TO ANOTHER, YOU WON’T HAVE TO PAY HIGH CREDIT CARD FEES THAT CAN ADD 4% OF THE TOTAL, AND SOME APPS AND SHOPS WILL GIVE BONUS DISCOUNTS FOR SIGNING UP WITH LIBRA, SEND AND REQUEST MONEY FROM FRIENDS LIKE YOU WOULD WITH PAYPAL OR VENMO, AND FACEBOOK IS MAKING ITS OWN APP CALLED CALIBRA, AND WHATSAPP, OR A STANDALONE APP, YOU WON’T HAVE TO HAVE A STANDALONE ONE, THEY WILL BE PUBLIC, FACEBOOK KNOWS IT’S A LITTLE BIT CREEPY, AND YOU DON’T WANT IT SPYING ON WHAT YOU BUY, SO THEY CREATED THAT COMPANY TO KEEP ALL OF YOUR FINANCIAL DATA SEPARATE FROM YOUR FACEBOOK PROFILE, THAT MEANS IT CAN’T USE YOUR TRANSACTION DATA TO TARGET YOU WITH ADS, OR SELL YOUR INFORMATION TO MARKETERS, EVENTUALLY FACEBOOK HOPE SHE WILL USE IT TO PAY BILLS, SCAN THE QR CODE TO PURCHASE COFFEE OR TABBY PHONE TO BUY A PUBLIC TRANSIT TICKET. ANY TIME YOU CAN CASH OUT OF IT AND GET THE LOCAL CURRENCY BACK IN THE BANK ACCOUNT ARE HANDED TO YOU AT A LOCAL STORE. BUT HOW DOES IT TECHNICALLY WORK , WITHOUT A BUNCH OF BLACK CHAIN BUZZWORDS? IT IS CODED TO HAVE A STABLE PRICE, BE SECURE AND BE CONTROLLED NOT JUST BY FACEBOOK. INSTEAD IT IS RUN BY THE 28 MEMBER LIBRA ASSOCIATION THAT THEY HOPE WILL GROW TO 100 MEMBERS BY THE TIME IT LAUNCHES IN THE FIRST HALF OF 2020. VISA AND MASTERCARD, MERCHANTS AND APPS LIKE eBAY AND LYFT, HURWITZ, UNION SQUARE VENTURES, AND EACH PAY AT LEAST $10 MILLION TO GET ONE VOTE ON THE LIBRA COUNSEL THAT CONTROLS WHAT HAPPENS TO THE CURRENCY, THEY WILL BE RESPONSIBLE TO MAKE SURE THE TRANSACTIONS ARE REAL AND CREATING THE LIBRA RESERVE. EACH TIME YOU CASH IN A DOLLAR, THAT GOES INTO A BIG BANK ACCOUNT, THE LIBRA RESERVE, THAT SEND YOUR ROUGH THE 1 LIBRA TOKEN, MADE UP OF A COLLECTION OF STABLE INTERNATIONAL CURRENCIES LIKE THE U.S. DOLLAR, BRITISH POUND, THE EURO, AND JAPANESE YEN, EVEN IF ONE OF THEM GOES UP AND DOWN IN PRICE, THE VALUE OF THE LIBRA WILL STAY STABLE, THAT WAY THEY WILL ACCEPT IT WITHOUT WORRYING IF THE VALUE WILL DROP TOMORROW. BIG SWINGS IN PRICE OR WHY OLDER CRITICAL CURRENCIES LIKE COIN AND HE THEORY THEM HAVE NOT GROWN POPULAR. THEY CAN ALSO HANDLE 1000 TRANSACTIONS PER SECOND, WHILE BITCOIN CAN ONLY HANDLE 7. SO HOW DO THEY EARN MONEY? INTEREST ON ALL THE ASSETS HELD IN THE LIBRA RESERVE. AFTER THE LIBRA ASSOCIATION PAYS FOR ITS OPERATION, MEMBERS EARN A CUT OF THE REMAINING INTEREST IN PROPORTION TO HOW MUCH THEY INVESTED WHEN THEY JOINED, IF LIBRA GETS POPULAR, THEN THE RESERVE GROWS HUGE, AND THE INTEREST COULD ADD UP TO SERIOUS REVENUE FOR FACEBOOK. BUT THERE IS A SUBTLE SECOND WAY THAT FACEBOOK CAN GET RICH FROM LIBRA, IF THE CURRENCY MAKES IT EASIER FOR SMALL BUSINESSES TO ACCEPT PAYMENTS ONLINE, THEY WILL SELL MORE STUFF, THEN THEY WILL HAVE EXTRA MONEY TO SPEND ON FACEBOOK ADS, EXTRA? TO BUY THINGS WITH LIBRA. 90 MILLION HAVE PAGES, BUT ONLY 7 MILLION EXIST, ON FACEBOOK, THE REVENUES COULD SKYROCKET. THE BIG RISK OF LIBRA IS THAT ANYONE WILL BE ABLE TO DEVELOP APPS FOR IT, THAT COULD LEAD TO ANOTHER CAMBRIDGE ANALYTICA SCANDAL. INSTEAD OF SOME SHADY AT MAKER SNATCHING YOUR PERSONAL INFO, THEY COULD STILL YOUR DIGITAL CURRENCY. AND FACEBOOK AND THE LABOR ASSOCIATION SAY THEY WON’T FIT LIBRA DEVELOPERS, LEAVING IT WIDE OPEN FOR ABUSE, IF PEOPLE GET SCAMMED, THEY WILL BLAME FACEBOOK, BUT IF FACEBOOK SUCCEEDS, THE REAL WIN COULD BE FOR THE PEOPLE LEFT IN POVERTY WITH NO BANK ACCOUNT AROUND THE WORLD. EXPLOITED BY INTERNATIONAL MONEY SENDING SERVICES LIKE WESTERN UNION OR MONEY GRAM THAT CHARGE STEEP 7% FEES THAT TAKE $50 BILLION AWAY FROM FAMILIES PER YEAR, AND IF THEY ARE MUGGED, THEY CAN LOSE ALL THEIR MONEY SINCE THEY HAVE NOTHING STORED ONLINE, BUT ALL THEY WILL NEED IS A PHOTO ID AND LIBRA CAN GIVE THEM AN ALTERNATIVE TO A BANK ACCOUNT THAT IS TOUGHER TO STEAL AND MAKE IT EASIER TO PAY FOR WHAT THEY NEED. THERE ARE PLENTY OF REASONS TO WORRY THAT IT COULD GIVE FACEBOOK AND OTHER TECH GIANTS MORE POWER OR THE TO PEOPLE GETTING SCAMMED, BUT ALSO COULD GIVE DISADVANTAGED PEOPLE EVERYWHERE AWAY TO JOIN THE MODERN ECONOMY, AND THE LEAST IT IS NOT CALLED PHASE GOING. — AT LEAST IT IS NOT CALLED FACECOIN.>>>WE ARE HERE TODAY TO TAKE A LOOK AT OUR NEW SYSTEM. THIS IS A DEDICATED HANDHELD SYSTEM, IT REALLY OPTIMIZED FOR PORTABLE, ON THE GO GAMING, IT LAUNCHES ON SEPTEMBER 20 FOR $199.09, TURQUOISE, YELLOW, GRAY, AND COMPATIBLE WITH THE VERY LARGE LIBRARY OF GAMES, ANY GAME THAT WORKS IN HANDHELD MODE WILL WORK ON THIS, IT IS OPTIMIZED FOR HANDHELD GAMING, SO IT HAS THOSE ATTACHED TO THE SYSTEM, AND A LITTLE BIT SMALLER THAN THE SWITCH, WE ARE REALLY ABOUT GIVING THE CUSTOMER CHOICE, WHETHER YOU ARE MORE OF A GAMER THAT WANTS TO PLAY IN THE LIVING ROOM, WITH THE SWITCH, OR YOU KNOW YOU ARE GOING TO BE REALLY GAMING ON THE GO A LOT MORE, THERE IS A SYSTEM OUT THERE, A NINTENDO SYSTEM OUT THERE FOR YOU TO PICK. ♪ ♪>>>WE ARE STANDING ON THE FLOOR WHERE WE JUST LAUNCHED A FEW DAYS AGO, THREE KEY FILLERS, IMMERSION, THE FIRST VERSION IS TWICE AS LARGE, AND WE HAVE THIS ABILITY TO INTERACT WITH HOLOGRAMS NATURALLY, INSTINCTUAL INTERACTION, REACHING OUT AND TOUCHING A HOLOGRAM AS IF THEY ARE THERE, AND A COMFORT FILLER, ADJUSTING THE CENTER OF GRAVITY, SENSORS IN THE FRONT, MAKING IT MUCH EASIER TO WEAR FOR A EXTENDED PERIOD OF TIME, AND WE TALKED TO CUSTOMERS, THEY WANT TO TALK ABOUT HOW THEY CAN QUICKLY GET VALUE OUT OF THESE HOLOLENSES, AND THE HELLENES, THE MICROSOFT SOLUTION, LIKE GUIDES, TRAINING YOUR CUSTOMERS AND YOUR EMPLOYEES IN A MUCH FASTER WAY THROUGH 3-D VISUALIZATIONS, IMMERSION, COMFORT AND TIME TO VALUE, WE THINK HOLOLENS 2 IS THE BEST WAY TO ENJOY MIXED REALITY. >>>TWO WAYS TO APPROACH A COPY SUBSCRIPTION MODEL, $25 PER MONTH, USING SERVICES, OR THE ENTERPRISE PACKAGE, WHICH IS $3500, WHICH HAS BEEN REDUCED FROM THE ORIGINAL PRICE OF HOLOLENS. >>>WE ARE BACK HERE, TIME TO TALK TO YOU ABOUT THIS. THE RIGO. THE APPLE WATCH SERIES 5, THAT LITTLE TRICK RIGHT THERE, WHAT YOU ARE LOOKING AT RIGHT NOW, ALWAYS ON DISPLAY, THE BIG FUTURE FOR THIS ONE, IF I COVER THE LIGHT SENSOR, OR IF I AM BRUSHING IT TO THE SIDE, THE BIGGEST FEATURE HERE, APPLE HAS IMPROVED BATTERY LIFE, YOU GET ABOUT 18 HOURS ON THIS, WHICH IS STANDARD, YOU’RE ABLE TO GET THAT THIS TIME, ALWAYS ON DISPLAY, AND YOU DID NOT SEE SLEEP TRACKING, I SUSPECT WE WILL GET QUITE A BIT MORE BATTERY LIFE, AND THE OTHER BIG IMPROVEMENT IS THE COMPASS, A BUILT-IN COMPASS, LIKE ON THE iPHONE, OPENING UP TO DEVELOPERS RIGHT NOW, APPLICATIONS YOU CAN POTENTIALLY USE, THE MOST OBVIOUSLY BEING THIS ONE, AND MY FRIEND AT APPLE SHOWED ME ONE OF THE EARLY APPS THAT HAS BEEN DEVELOPED, THE NIGHT SKY, VERY FAMILIAR TO MOST PEOPLE, SPIN IT AROUND AND YOU CAN SEE WHERE THE CONSTELLATIONS ARE IN THE SKY. THOSE ARE THE BIG TOP LEVEL FEATURES, INTERNATIONAL SOS, IF YOU HAVE AN EMERGENCY ABROAD. A COUPLE OF NEW CASE DESIGNS, CERAMIC HAS RETURNED, TITANIUM, THE PRICE POINT IS PRETTY HIGH, THAT IS AT $799. AND THE STANDARD WATCH IS $399, AND $499 IF YOU WANT LTE BUILDING. — BUILT IN. >>>WE ARE HERE, IN CUPERTINO, FOR THE iPHONE 11 LAUNCH EVENT, THIS IS THE iPHONE 11 PRO, 3 NEW MODELS, THE iPHONE 11, PROVO, MAX, THIS PRESENTS A LITTLE BIT OF A PARADIGM SHIFT FOR THE COMPANY, THEY ARE DOING AWAY WITH THE iPHONE R LINE, THEY ARE MAKING THE iPHONE 11 THE ENTRY LEVEL DEVICE, $690, A BIT OF A REACTION TO THE WAY THE SMART PHONES HAVE BEEN GOING, AND IF BIG PART OF THE REASON WHY PEOPLE ARE NOT BUYING SO MANY PHONES, THERE REALLY EXPENSIVE, APPLES FLAGSHIPS ARE CONTINUALLY OVER $1000, AND IT KIND OF MAKES THE iPHONE 11 PRO THE SUCCESSOR TO THE iPHONE 10 S. IT LOOKS VERY SIMILAR, THE FORM FACTOR IS VERY MUCH THE SAME, AND THE BIG DIFFERENCE HOWEVER, IF YOU GO BACK, IS THE ARRAY RIGHT HERE, SO IF YOU HAVE TRIP TO PHOBIA, THIS WILL MAKE YOU FEEL FUNKY. AND A SIMILAR SQUARE CONFIGURATION HERE, THIS ONE ADDS A THIRD, THAT DOES WIDE- ANGLE AND ULTRA-WIDE-ANGLE, THIS HAS THE TELEPHOTO LENS, SO YOU WILL GET BETTER VIDEO AND BETTER PHOTOS, AND ONE OF THE MORE INTERESTING FEATURES FROM A SOFTWARE PERSPECTIVE, IS SOMETHING CALLED DEEP FUSION, IT TAKES PHOTOS AND MAKES A COMPOSITE OF PHOTOS TO GIVE YOU MUCH BETTER IMAGES, AND A COUPLE OF OTHER DIFFERENCES, A LOT OF FUTURE UPDATES WITH IOWA’S 13.>>>THE SUPER RETINA DISPLAY, ON THE 11 PRO, 5.8, AND 615 INCH ON THE iPHONE 11, AND COMING AT THE END OF THE MONTH, AVAILABLE SEPTEMBER 20, STARTING AT $999, A SIMILAR PRICE POINT, AND $1099 FOR THE MAX. >>>LIVEWIRE IS A ALL-NEW HARLEY-DAVIDSON HALO PRODUCT, THE CORE ARCHITECTURE IS A PERMANENT MAGNET MACHINE, AND LITHIUM-ION TECHNOLOGY.>>HOW IS HARLEY DAVIDSON IN LIMITING THE TECHNOLOGY? ARE YOU LEVERAGING STARTUPS? IS IT ALL IN HOUSE? ARE YOU USING THE SILICON VALLEY OFFICE? >>IT STARTED WITH AN IDEA IN 2011, WE STARTED INVESTIGATING DIFFERENT TECHNOLOGIES, MOTOR ELECT TRONIC — TECHNOLOGIES, BATTERY PACKS, BACK TO 2011, WHAT WE STARTED DOING, AND YOU CAN SEE IN OUR STARTUP OF OUR WEST COAST FACILITY, WE ARE BRINGING A LOT MORE OF THE DESIGN AND DEVELOPMENT IN-HOUSE TO BRING THE ABSOLUTE BEST TECHNOLOGY TO MARKET. >>WHY IS HARLEY DAVIDSON PIVOTING TOWARDS ELECTRIC? >>LIVE MARK — LIVEWIRE REPRESENTS THE FUTURE OF HARLEY- DAVIDSON, AND WE CAN EXPECT TO SEE FUTURE MODELS WITH PART OF THE TECHNOLOGY THAT YOU SEE SHOWCASED TODAY.>>WHO IS IT FOR? >>IT IS FOR A LOT OF DIFFERENT PEOPLE. THE HARLEY DAVIDSON CUSTOMERS, THE LIVEWIRE IN THE HANDS OF OUR CUSTOMERS, THE NEW MARKET, URBAN, YOUNGER, WEALTHIER, THEY ARE HIGH IN TERMS OF STYLE AND APPRECIATION OF DESIGN AND QUALITY. AND THEY’RE LOOKING FOR AN ELECTRIC MOTORCYCLE FOR URBAN USE. >>HOW DOES HARLEY-DAVIDSON BALANCE THE CHROME AND STEAL GAS MARKET WITH TOENSING THE EV MARKET, A DIFFERENT DEMOGRAPHIC? >>THERE WILL BE, FOR SURE, IT IS AND, NOT OR, WE WILL LEAD IN TOURING AND CUSTOM DEVELOPMENT, MAKING MOTORCYCLES THAT WILL APPEAL TO CUSTOMERS, AND WILL REACH OUT TO NEW CUSTOMERS, NOT ONLY LIVEWIRE, BUT A WHOLE PORTFOLIO OF ELECTRIC VEHICLES IN THE FUTURE. >>SCOOTERS, BICYCLES? >>YOU NAME IT, WE WILL BE LEADING THE ELECTRIFICATION OF 2 WE’LL VEHICLES, PERFORMANCE POINTS, IN SOME CASES YOU WON’T NEED A MOTORCYCLE LICENSE, THE ELECTRIFICATION OF TWO WHEELS. STICKER PRICE POINT, WHICH COMES IN AT $29,000, HOW DO YOU EXPECT TO COMPETE WITH ZERO, AND NEW MOTORCYCLE, ROUGHLY COMFORTABLE — COMPARABLE AT $10,000 LESS? BIGGER THEY ARE NOT THAT COMPARABLE IN TERMS OF FINISH, PERFORMANCE, AND CUSTOMER EXPERIENCE, IF YOU THINK ABOUT THE LEVEL OF CUSTOMER AND DEALER INTERACTION, THEY WILL HAVE SERVICING ABILITY, CHARGING ABILITY AT STORES, AND THE ABILITY TO GIVE CUSTOMERS A BROADER AND WE BELIEVE BETTER CUSTOMER EXPERIENCE, WHEN THEY MAKE THE COMPARISON, THERE REALLY IS NO CHOICE. >>WITH LIVEWIRE, HARLEY- DAVIDSON WILL BE THE FIRST GAS MANUFACTURE, TO RELEASE A D MOTORCYCLE TO THE MARKET, DO YOU THINK YOU HAVE AN IMPACT TO SHIFT IT? >>EVERYONE IS WATCHING, WE ARE THE FIRST MOVER IN THE SPACE, WE HAVE THE BEST DEALER NETWORK, IN THE U.S. AND GLOBALLY, IT IS A VERY EXCITING TIME, I THINK YOU WILL SEE OTHERS MOVE AFTER HARLEY- DAVIDSON. >>IS LIVEWIRE ALL AMERICAN MADE?>>GOOD QUESTION. [ LAUGHTER ] LIVEWIRE IS ASSEMBLED IN PENNSYLVANIA, AMERICAN MADE. >>HARLEYS ARE FAMOUS FOR THEIR SOUND, IS THERE A ELECTRIC SOUND FOR LIVEWIRE? WEAKER IT WOULDN’T BE A HARLEY- DAVIDSON IF WE DIDN’T HAVE LOOK, SOUND AND FEEL. IT WILL BE AUTHENTIC TO HARLEY- DAVIDSON, COMING FROM THE COMBINATION OF THE ELECTRIC MOTOR, THE SPIRAL BEVELED GEAR, AND THE DRIVELINE, SPECIFICALLY TO HAVE THAT SOUND. >>A LITTLE QUIETER THAN A GAS BIKE THOUGH? >>ABSOLUTELY. >>>THE MOST ROBUST SYSTEMS OUT THERE ARE CONSIDERED LEVEL II, LEVEL IV IS CONSIDERED FULL AUTONOMY UNDER CERTAIN CONDITIONS, WHAT IS VIVIAN GOING FOR? >>LEVEL III, AUTONOMOUS DRIVING, IN CERTAIN CONDITIONS, IN CERTAIN GEO-FENCED AREAS, WE TAKE OVER THE ENTIRE DRIVING OPERATION OF THE VEHICLE IN A FAILSAFE MANNER. >>WHAT IS VIVIAN’S APPROACH, HOW DO YOU ENSURE THAT THERE IS SAFETY? BAKER WE ARE DRIVING A DUST DEVELOPING A DRIVER MONITORING SYSTEM, THAT IS NOT ONE SENSOR, LIKE IF THE DRIVER WANTS TO ACTUALLY DISENGAGE. AND THERE IS A CAMERA, AND HANDS-ON WHEEL SENSORS. >>THE BIGGEST ISSUE WITH THE MS IS NOT JUST THAT IT IS MONITORING THE DRIVER, BUT WHAT KIND OF CORRECTIVE OR PREVENTATIVE BEHAVIOR? >>THAT IS A GOOD POINT, DETERMINING THE DRIVER’S INTENTION, YOU HAVE ENABLED THE AUTONOMOUS SYSTEM. YOU HAVE PULLED OUT THE iPAD AND YOU’RE WATCHING A MOVIE, YOU KIND OF HAVE IT ON HER LAP, IF YOU WANT ATTORNEY GET YOUR NOTEBOOK, AND YOU INADVERTENTLY GIVE A STEERING INPUT TO THE STEERING CONTROLLER, IT SENSES TORQUE, THE CAMERA WILL SEE THAT, YOU’RE NOT LOOKING AT THE ROAD, WE WILL HAVE TO IGNORE THE INPUT FROM THE HUMAN TO UNDERSTAND THAT THEY ARE NOT INTENDING TO CHANGE LANES, THEY ARE DOING SOMETHING ELSE WHILE THE VEHICLE IS IN CONTROL. ON THE FLIPSIDE, THEY ARE RE- ENGAGING THE DRIVING TASK, SO YOU ARE APPROACHING YOUR PLANT EXIT, A MINUTE BEFORE THAT, THE VEHICLE WILL NOTIFY THE DRIVER THROUGH HMI THAT IT’S TIME TO GET READY TO DRIVE, BE AWARE OF SURROUNDINGS, AND WE WILL DETECT BOTH HANDS ON THE WHEEL, THE INPUTS OF THE STEERING AND THE DRIVER’S EYES ARE ON THE ROAD.>>MY JOB SPECIFICALLY IS GOING ON ADVENTURES TO MEET PEOPLE WHO ARE MOUNTAIN BIKING, SURFING, ROCKCLIMBING, I FLEW DOWN TO NORTH CAROLINA AND SHOWED UP AT THIS OVERLAND CONFERENCE WITH A COUPLE OF GENERATIVE RESEARCH TOOLS, WHICH ALLOWS THE PEOPLE THAT I’M TALKING TO, TO KIND OF CO- CREATE WITH ME, AS WE ARE TALKING. IT IS ASKING WHAT ARE THE TOOLS THAT YOU BROUGHT SPECIFICALLY FOR OVERLAND, THE BIGGEST PROBLEMS, WORKING TOGETHER ON THOSE PROBLEMS, AND BEING A PART OF THE COMMUNITY, BECAUSE I WAS THERE ALONE, THERE’S A LOT OF PEOPLE THAT INVITED ME TO THE CAMPSITE, AND WE ARE LIKE A, DO YOU WANT THIS GROUND BEEF BURRITO, EVERYBODY WAS MAKING IT ON THE TRIP, ATE LIKE SEVEN. [ LAUGHTER ] AND I’M SITTING IN HAVING CONVERSATIONS ABOUT THEIR VEHICLE, WHAT OVER LANDING MEANS TO THEM. >>GIVE YOU AN EXAMPLE, EITHER A DESIGN ELEMENT IN ONE OF THE 2 EXISTING MODELS THAT YOU CONTRIBUTED TO OR CAME DIRECTLY OUT OF YOUR RESEARCH? >>I DESIGNED THE CROSSBARS, ONE OF THE BIGGEST THINGS IS REALIZING THAT IT IS SUPER ANNOYING TO SET UP YOUR VEHICLE BEFORE EVERY SINGLE TRIP, BECAUSE THERE’S A LOT THAT NEEDS TO BE ATTACHED, OR TAKEN OFF, SO YOU DON’T HAVE THIS HUGE RACK ON THE BACK OF YOUR VEHICLE, THINGS LIKE THAT, SO ONE OF THE THINGS THAT WE DID WAS WE MADE IT A? RELEASE SYSTEM, SO THERE ARE PORTS ON THE ENTIRE VEHICLE, ALONG THE ENTIRE SPACE, 36 INCHES APART. THE CROSS BAR SYSTEM IS MODULAR, SO YOU CAN UNDO ONE OF THOSE CROSSBARS, TAKE IT OFF, IT SEEMS SIMPLE, A LOT OF PEOPLE AT THE SHOWS WHEN I’M TALKING TO THEM ARE LIKE WHY HAS NO ONE DONE THIS BEFORE? PARTLY BECAUSE WE HAVE THIS REALLY GREAT ECOSYSTEM OF THE VEHICLES, AND ALSO PROBABLY BECAUSE THERE ARE VERY FEW AUTOMOTIVE MANUFACTURERS WERE THE PROCESS IS INGRAINED THIS DEEP CAR RIGHT? BEFORE WE DESIGN ANYTHING, WE HAVE TO GO OUT AND TALK TO PEOPLE WHO DO THOSE THINGS, AND UNDERSTAND IT. ♪ ♪>>>Y LEVEL III? WHY CAN IT NOT BE ACHIEVED WITH LEVEL II?>>WE WANT TO EMBRACE THE CHALLENGE. WILLIAMS HAVE BEEN ADDING AUTOMATION TO CERTAIN CONTROLS OF THE CAR. AND THE LANE DEPARTURE WARNING, YOU SEE THEM COME TOGETHER THEY THAT WE WANT THEM TO LOVE IT, THE COMMUTE TIME, THE DRIVE TIME TO THEM TO UNWIND, OR ENGAGE IN SOMETHING ELSE WHILE THE VEHICLE IS ON THE DAILY COMMUTE, YOU WANT TO HANG WITH YOUR FRIENDS, SWAP THAN WHEN YOU ARE DRIVING HOME FROM A CLIMB, WE WANT TO ENABLE THAT FOR OUR CUSTOMERS. THERE ARE MOBILITY COMPANIES WORKING ON THE FLOOR, WORKING FROM THE TOP DOWN, FROM 4 5, FOR MORE FLEET APPLICATIONS POSSIBLY, WE WANT TO GET A FEATURE IN THE CUSTOMERS HANDS SOONER THAN POSSIBLY SOME OF THE OTHER SYSTEMS, MIGHT BE FULLY VETTED FOR LIGHT ADOPTION. ♪ ♪>>>MANAGING ON SHELF INVENTORY IS HARD, BECAUSE OF THE FLOW OF PRODUCT, THE VOLUME MAKES IT DIFFICULT TO MAKE SURE HE PRODUCT IS ON THE SHELF ON TIME FOR THE SHOPPER TO FIND IT. WE ARE ESSENTIALLY GIVING VISIBILITY TO THE STORES, TELLING THEM WHAT IS THE GROUND TRUTH, WHERE OTHER PRODUCTS, ARE THEY STOCKED, ARE THE IN THE RIGHT LOCATION, IS THE PRICE RIGHT.>>ARE THEY DOING ANYTHING THAT A HUMAN COULDN’T DO? >>THE ROBOT IS MUCH MORE MINUTE IN THE ANALYSIS, ROBOTS DON’T HAVE HANDS, THEY ARE NOT RESTOCKING SHELVES, BUT WHAT WE DO VERY WELL IS AUTOMATE THE DATA COLLECTION AND ANALYSIS. SO WE HAVE A BUNCH OF 3-D CAMERAS THAT WE POINT AT THE SHELF, AND AS THE ROBOT ROLLS DOWN THE AISLE, WE CAPTURE THE DETAILS OF THE SHELF, AND EVERY PRODUCT. >>HOW DOES THE DATA COME BACK TO THE EMPLOYEE? >>IT TELLS THEM WHAT PROBLEMS THEY WANT TO FIX IN ONE ORDER, WHEN THE SHIFT STARTS, YOU HAVE THE ENTIRE STORE ANALYZE, YOU HAVE THE PROBLEMS IN RANK ORDER, AND YOU CAN HIT THEM IN THAT ORDER, WHICH MAXIMIZES YOUR EFFICIENCY. >>YOU HAD THE UNDERLYING TECHNOLOGY, SOFTWARE, AI, THINGS LIKE THAT, BUT YOU HAD TO BUILD A CUSTOM ROBOT FOR WALMART’S NEEDS? >>YES, WE HAD THE BUILDING BLOCKS, BUT WE HAD THEM TOGETHER, IT TELLS YOU THE BASELINE, I TOLD YOU WHAT YOU CAN’T DO WITH THE BUILDING BLOCKS. WE DID THAT, THAT IS WHY IT TOOK SIX YEARS NOW WORKING ON IT, WE NACVELY THOUGHT IT WAS CAMERAS ON WHEELS, HOW DIFFICULT COULD THAT BE, NINE MONTHS WE COULD DEPLOY, AND HERE WE ARE CONTINUING TO PEEL THAT ONION. >>I LOOK AT A COMPANY LIKE YOURS, AND AMAZON ROBOTICS COMES TO MIND.>>SURE, YES. >>BUILDING THIS COMPANY, A GIANT RETAILER, START USING THEIR STUFF, AND ACQUIRES THEM CUT TURNS IT INTO AMAZON ROBOTICS, DID A DEAL LIKE THAT NOT MAKE SENSE FOR YOUR COMPANY? IS WALMART NOT IN THE BUSINESS OF BUYING TECHNOLOGY COMPANIES RIGHT NOW? >>I HAVE TO LEAVE THAT TO WALMART TO ANSWER, IF WE WERE TO GUIDE OUR OWN DESTINY, IF WE CONTINUE TO BE SUCCESSFUL DOING THAT, WHAT WE WOULD LIKE TO DO IS SERVE THE ENTIRE INDUSTRY, BECAUSE FUNDAMENTALLY THE PROBLEM WE ARE SOLVING, LACK OF VISIBILITY OF WAS ON THE SHELF, IS UNIVERSAL, THE ENTIRE WORLD HAS THE SAME PROBLEM. AND NOBODY HAS A SOLUTION, AND FOR LARGE STORES, THE BEST SOLUTION IS A COMBINATION OF ROBOTS AND AI, WE WANT TO DO IS COMPLETELY MAXIMIZE THE IMPACT AND HELP THE INDUSTRY IN GENERAL IMPROVE THEIR EFFICIENCY AND THE SHOPPING EXPERIENCE.♪ ♪>>>THE FIRST IN WHAT IS AVAILABLE FOLDABLE SMART PHONE, 54 MILLIMETERS, AND WE SUPPORT THE SUPERCHARGED 55 WATTS, BIG BATTERIES, GIVING YOU THE BEST EXPERIENCE, AND FOLDABLE, GIVES YOU 6 POINTS SIX BIG, LARGE SCREEN, AS A MOBILE, AND CAN TRANSFORM INTO A TABLET, AND IT IS A FLEXIBLE, SOFT STRING, THE UN-FOLDABLE, THE IMPORTANT THING IS THE HINGE, HUAWEI TOOK THREE YEARS TO MAKE A 180 DEGREE NO DESIGN, WHEN YOU ARE FOLDING. WE WILL START TO LUNCH IN COUNTRY STARTING FROM THE MIDDLE OF THIS YEAR, THE PRICE IS B,2199, BUT IT VARIES BY COUNTRIES. >>>WHAT MAKES I AM — IM ROBOTICS UNIQUE, DOING A TASK THAT A PERSON WOULD HAVE TO DO TO GRAB PHYSICAL ITEMS OFF THE SHELF. THE PROBLEM IS THAT e-COMMERCE IS GROWING, SPENDING MORE MONEY ONLINE, PUTTING A STRAIN FOR MORE AND MORE PEOPLE TO DO THE WORK IN MATERIAL HANDLING FOR e- COMMERCE, OUR CUSTOMERS ARE PROSPECTIVE CUSTOMERS ARE LOOKING TO AUTOMATE TO REDUCE COSTS, BUT ALSO TO ALLEVIATE THIS MANUAL LABOR SHORTAGE. >>OBVIOUSLY AMAZON IS GROWING IT AND BUILDING IT IN-HOUSE, AND 2012, AND THE CLIENTELE IS LARGELY SMALLER, OR THE SOURCE OF PEOPLE THAT ARE LOOKING FOR A SYSTEM LIKE THIS. >>THE COOL THING IS, YOU DON’T HAVE TO BE A GIGANTIC PLAYER OR HAVE A MASSIVE MULTIBILLION- DOLLAR WAREHOUSE TO AUTOMATE, THEY DO MORE THE FULL TASK OF WHAT A PERSON WOULD DO, THEY PROVIDE THAT VALUE AT A LOWER PRICE POINT. >>BUT THE GOFER USED TO HAVE A ONE SIZE FITS ALL APPROACH THAT ALL THESE DIFFERENT COMPANIES CAN PLUCK ONE OFF THE SHELF AND DEPLOY IT? >>WILL HAVE THE BREATH, BUT ALSO BEEN HANDLING, WE STORE EVERYTHING IN BINS, THE ROBOTS RETRIEVE THE BINS AND MOVE THEM TO A CONVEYOR, AND TAKE THE BINS AND MOVE THEM TO A SHELF, ANYTHING THAT YOU CAN PUT A — IN A BOX OR BEEN CAN BE HANDLED BY ROBOTS EFFECTIVELY. >>>THE IMPOSSIBLE BURGER, NOT ONLY FOR MEDIATORS, IT IS PREFERRED, THREE TIMES, A FRACTION OF THE USE OF LAND AND WATER, AND HITS THE SPOT FOR THOSE OF US WHO CRAVE A DELICIOUS, CREDITABLE BURGER. THE LAST 2 1/2 YEARS, WE’VE GATHERED EVERY FEED BACK, NOT JUST LIKE THE CELEBRITY CHEFS, BUT MEAT EATERS AROUND THE COUNTRY, THE REQUEST IS TO MAKE IT MORE VERSATILE, EASIER TO COOK, IT IS BEEFIER AND TASTIER, BETTER TEXTURE, THE IMPOSSIBLE BURGER, A NEW RECIPE, PUT IT ON A SLATED GRILL, COOK IT ALMOST ANYWAY A NORMAL BURGER FROM A COW CAN BE COOKED. >>IT GRILLS BEAUTIFULLY, GOOD TO SAUTC WITH, YOU CAN MAKE CHILLY, OR THE GROUND BEEF, THAT YOU PUT IN A EMPANADA, MEATBALLS REALLY WELL. YOU CAN DO REALLY ANYTHING YOU CAN DO WITH GROUND BEEF, YOU JUST DON’T WANT TO OVERCOOK A COPTIC IT’S DRY JUST LIKE BEEF GETS DRY. IT IS MORE SIMILAR TO GROUND BEEF THAT IS 80% LEAN AND 20% FAT.>>THE BIGGEST CHALLENGE FOR US IS THE FACT THAT OUR MISSION IS ONLY SERVED WELL IF WE — MEAT EATERS PICK OUR PRODUCT, THAT’S WHAT WE SEEN — HAVE SEEN NATIONWIDE TODAY, BUT THEY HAVE BEEN TERRIBLY DISAPPOINTED BY THE PLANT-BASED MEANS OF THE PAST, THIS IS DIFFERENT, THE CREDIBILITY OF CELEBRITY CHEFS IS AN IMPORTANT WAY TO OVERCOME THE BARRIER. >>SOY PRODUCTS THAT MIMIC TURKEY OR BACON JUST HAVEN’T DONE IT FOR ME, WE DIDN’T BOTHER TO GET TOO INVOLVED, SO FOR ME, AS A CHEF, IT IS VERY EXCITING TO HAVE THIS NEW TOOL IN MY TOOLBOX.>>WE PROTOTYPE 100 NEW PRODUCTS PER WEEK, I’VE TRIED FOR THE TYPES OF A IMPOSSIBLE STEAK, IMPOSSIBLE CHICKEN NOODLE SOUP, THERE IS NO LIMIT TO R&D AT IMPOSSIBLE FOODS. >>>A PUBLIC AND PRIVATE PARTNERSHIP, WE ARE HERE TO BRING INDUSTRY, RESEARCH AND GOVERNMENT TOGETHER TO WORK ON THE ADVANCED MOBILITY TECHNOLOGIES, CONNECTED VEHICLES, AUTOMATED VEHICLES, TO HELP BRING THEM TO SOCIETY IN A THOUGHTFUL AND BENEFICIAL WAY. WE RUN A BUNCH OF DIFFERENT LIVING LABORATORIES, INCLUDING A TEST FACILITY, BUT ALSO SUPPORTING RESEARCH, AND A LOT OF THESE AREAS, ABOUT $27 MILLION OVER THE LAST FOUR YEARS IN ENGINEERING, SOCIAL SCIENCES, LAW, ALL KINDS OF DISCIPLINES THAT TOUCH THESE NEW TECHNOLOGIES. WE DO ALL SORTS OF RESEARCH PROJECTS, MOTION SICKNESS, THE CONFIGURATIONS OF TOMORROW, WILL THEY BE REASONABLE, A REASONABLE THING, OR THE MITIGATION TO KEEP PEOPLE FROM FEELING GROSS WHILE THEY ARE USING IPADS. AND THE TESTING OF HIGHLY AUTOMATED VEHICLES, HOW CAN WE GUARANTEE THAT THESE SYSTEMS ARE SAFE AND READY TO GO OUT ONTO PUBLIC ROADS AND MIX WITH REAL HUMANS, IN TERMS OF BUILDING PUBLIC TRUST AROUND THE SAFETY AND TESTING OF THESE SYSTEMS, WE NEED A MORE OPEN SET OF TESTING STANDARDS. IT WILL BE A LITTLE WHILE BEFORE GROUPS CAN FINALIZE STANDARDS IN THIS AREA. WE CAN HELP FEED INTO THAT. YOU CAN IMAGINE COMPANIES, GETTING THEM TO AGREE ON TECHNOLOGIES IS PRETTY MUCH IMPOSSIBLE. FOCUSING ON POLICY, AS MUCH AS GOOD POLICY THROUGH DATA COLLECTION, ON ROW DEPLOYMENTS, THOSE SORTS OF PROJECTS. AND THE MEMBER COMPANIES ARE HERE TO SHARE DATA WITH EACH OTHER ON A LOT OF TOPICS, YOU CAN IMAGINE SAFETY FOR EXAMPLE IS WERE NO COMPANY WANTS TO HAVE THE UPPER HAND, WE CAN SEE THE RISING TIDE FLOATS ALL BOATS, RING AND THE COMPANIES TOGETHER AND HAVE EVERYONE BE FOLLOWING BEST PRACTICES, AND EVERYONE BENEFITS. >>>OPEN IN THE EARLY 80s, BUILDING A VARIETY OF NAMEPLATES AND CAR SIZES, CURRENTLY WE HAVE 1100 PEOPLE ON THE SITE BUILDING SMALL CARS, AND OF COURSE THE EV. >>FOR FOLKS WHO DON’T KNOW, AREN’T FAMILIAR, SPECIFICALLY MANUFACTURING VEHICLES ON A SINGLE LINE, WHAT IS INVOLVED IN THAT PROCESS? >>YOU CAN HAVE SEPARATE LINES, IT WOULD BE VERY INEFFICIENT, OBVIOUSLY, THE PEOPLE AND THE FACILITIES, IT IS NASA, YOU WANT TO LEVERAGE THAT TO THE FULLEST ABILITY, BEING ABLE TO INTEGRATE EV, AV INTO ONE SINGLE LINE, THE EXPERTISE WE HAVE, AND ALSO IT PROVIDES US AN OPPORTUNITY TO BE ABLE TO BE MORE EFFICIENT THAN WE WOULD IF WE WERE SEPARATED. >>IS IT UNUSUAL TO HAVE THE INTERNAL COMBUSTION ENGINE VEHICLE AND EV ON THE SAME LINE? >>PROBABLY THE ONLY PLANT THAT I’M AWARE OF, WITH THE INTERNAL COMBUSTION ENGINE. ON THE SINGLE SEMI LINE. >>>WE HAVE THE CAPABILITY AND FLEXIBILITY FOR WHATEVER MIX IS REQUIRED.>>THESE ARE DONE IN BATCHES OF SIX OR SEVEN VEHICLES AT A TIME.>>NOT TO GET INTO THE SPECIFIC STRATEGY, LIKE I SAID WE HAVE SOME SHARING BETWEEN THE GROUPS, WE SPECIFICALLY TRY TO FIGURE OUT HOW TO BE MOST EFFICIENT WITH SPECIFIC CONTENT. AND WHAT MAKES SENSE TO BE ABLE TO SHARE ON THE SINGLE LINE SO WE DID DEVELOP THIS AREA IN THE FACILITY TO MAKE SURE WE COULD SCALE, THEY ARE SET UP EFFICIENTLY SPECIFIC TO THE AV, IT IS A FEW OPERATIONS BUT THIS WAS THE RIGHT WAY TO GO ABOUT IT. AFTER THE FEW OPERATIONS DONE DOWN HERE THAT ARE AV SPECIFIC THE CAR GETS INTRODUCED INTO THE SAME LINE THAT THE REGULAR PRODUCTION CARS DO.>>ANYTHING ELSE WE SHOULD KNOW ABOUT THE VEHICLE?>>THERE IS A LOT OF ENGINEERING THAT YOU DO NOT SEE THAT HAS GONE INTO THIS TO MAKE IT AV CAPABLE. I COULD GO ON AND ON AND GET INTO THE NUTS AND BOLTS THAT WE HAVE DONE A FANTASTIC JOB INTEGRATING IT INTO THIS FACILITY WITH THE PEOPLE. LEVERAGING WHAT WE BELIEVE IS THE COMPETITIVE ADVANTAGE WHICH IS THE ASSEMBLY PROCESS.>>>LADIES AND GENTLEMEN PLEASE SILENCE ALL MOBILE DEVICES, THE PROGRAM IS ABOUT TO BEGIN. LADIES AND GENTLEMEN PLEASE TAKE YOUR SEATS THE PROGRAM IS ABOUT TO BEGIN.>> TECHCRUNCH DISRUPT. >>LADIES AND GENTLEMEN PLEASE WELCOME TECHCRUNCH SENIOR WRITER AND YOUR BATTLEFIELD HOST. >>EVERYONE HAVE A GOOD LUNCH? WELCOME BACK TO THE START UP BATTLEFIELD THIS IS THE THIRD SESSION, WE WILL SEE FIVE MORE , EACH OF THE SESSIONS IS ALL KINDS OF STARTUPS AND THIS ONE WILL BE NO EXCEPTION. BEFORE WE BRING OUT THE STARTUPS I WILL BRING OUT THE EXPERT JUDGES, FIRST UP WE HAVE OUR PARTNER FROM NEA WHO HAS LED MANY OF THE FIRM INVESTMENTS IN INDUSTRIAL SOFTWARE SYSTEMS AND ADDITIVE MANUFACTURING.>>[ APPLAUSE ]>>NEXT FOUNDER AND MANAGING PARTNER AT COWBOY VENTURES WHICH SEEKS TO BACK EXCEPTIONAL TEAMS BUILDING TECHNOLOGY THAT REIMAGINES WORK AND PERSONAL LIFE IN LARGE AND GROWING MARKETS, WHAT THEY CALL LIFE 2.0. SOMEONE IS EXCITED ABOUT LIFE 2.0. NEXT WE HAVE FOUNDER AND MANAGING PARTNER AT GRADIENT VENTURES PRIOR TO STARTING GRADIENT SHE WAS THE VICE PRESIDENT OF ENGINEERING IN AI INTEGRATING AI INTO PRODUCTS ACROSS GOOGLE.>>NEXT WE HAVE PARTNER AT LIGHTSPEED VENTURE PARTNERS PREVIOUSLY WORKING ON BRANDING AND MARKETING AT NUT ONLINE WEALTH MANAGEMENT FOR MILLENNIALS. LAST BUT NOT LEAST WE HAVE BRADLEY TUSK CEO AND FOUNDER OF TASK VENTURE THE FIRST VENTURE CAPITAL FUND DEDICATED TO WORKING WITH AND REGULATING STARTUPS, GIVE IT UP FOR ALL JUDGES. NOW IT IS TIME TO BRING OUT THE VERY FIRST STARTUP OF THIS ROUND, THAT STARTUP HERE.>>FOR THE LAST 25 YEARS OF THE INTERNET HAS BEEN THE WILD WEST. BETWEEN PUBLIC OPINION AND GOVERNMENT REGULATION WHEN GDP R CAME INTO EFFECT THAT ERA ENDED FOREVER. THE AVERAGE COMPANY THINKS THEY SHARE DATA WITH ABOUT 40 DIFFERENT COMPANIES BUT IN FACT THEY SHARE WITH AN ASTOUNDING 750 AND IT IS AMAZING WHAT WE CAN DO WITH MODERN TECHNOLOGY THERE IS NO EASY WAY TO TRACK WHAT’S HAPPENING WITH ALL THE DATA AND THERE IS NO EASY WAY FOR COMPANIES TO COMPLY WITH THE PRIVACY OBLIGATIONS. UNTIL NOW. DATA PRIVACY PLATFORM MAKES IT EASY FOR COMPANIES TO IDENTIFY WHICH VENDORS ARE BEST TO WORK WITH. TO COMPLY WITH LAWS LIKE CALIFORNIA PRIVACY LAWS AND OTHER UPCOMING REGULATIONS AS WELL AS GDPR. CUSTOMERS CAN BROWSE LAWSUITS AND THEY CAN LOOK AT THE POLICIES FOR COMPANIES THEY ARE DOING BUSINESS WITH. UTILIZING OUR PROPRIETARY DATA SET OF 7000 DIFFERENT VENDORS, OSANO PROVIDES A 360 DEGREE VIEW OF EACH VENDOR PRIVACY PRACTICE. OSANO ASSIGNS AN OBJECTIVE SCORE MAKING IT EASY FOR COMPANIES TO IDENTIFY WHERE THEY HAVE RISK. CUSTOMERS CAN BROWSE LAWSUITS AGAINST VENDORS, THEY CAN TRACK LEGISLATION AND WE CAN TRACK THOUSANDS OF CONVOLUTED PRIVACY POLICIES ON THEIR BEHALF. OSANO INCLUDES A FULLY MANAGED COOKIE CONSENT SOLUTION SO WITH ONE LINE OF CODE WEBSITES CAN BECOME COMPLIANT WITH THE LAWS OF 40 DIFFERENT COUNTRIES AND THE DIALOGUES APPEAR IN THEIR NATIVE LANGUAGE. AS WELL OSANO OFFERS DEVELOPER API SO THE DEVELOPER CAN BUILD DATA PRIVACY INTO THE APPLICATION AND WORKFLOW. LET’S MOVE OVER TO THE DEMO. ON THE SCREEN YOU CAN SEE WEBSITE THAT IS NOT COMPLYING WITH THE LAW. WHEN WE LOAD UP THE WEBSITE WE CAN SEE 80 DIFFERENT COOKIES IN THE FORMS OF BEACONS, AD NETWORKS AND SOCIAL SHARES. IT IS GREAT FOR MARKETING TO DRIVE TRAFFIC RETARGET AND ANALYZE VISITOR BEHAVIOR THERE IS NO EASY WAY FOR THEM TO COMPLY WITH THE LAW. OSANO CUSTOMERS WITH A COUPLE OF CLICKS CAN COPY AND PASTE SOME CODE TO THE WEBSITE AND WITH THE ONE LINE OF CODE THEIR WEBSITE BECOMES COMPLY AUTOMATICALLY AND OSANO WILL ENFORCE BEST PRACTICE, LET’S LOOK AT THE SAME WEBSITE WE OSANO. WHEN THE PAGES LOADED THERE ARE THREE CENTRAL COOKIES AND NO THIRD-PARTY SCRIPTS. GO AHEAD AND CONSENT. NOW SCOTT HAS CONSENTED AND OSANO LETS THOSE SCRIPTS LOAD AND THE BROWSER IS FULL OF COOKIES BUT WHAT IS DIFFERENT IS THIS WEBSITE IS COMPLYING WITH THE LAW, COMPLYING BY COLLECTING CONSENT IS AN OBLIGATION AND FAILING TO DO THAT RESULTS IN SEVERE PENALTIES AND FINES. OSANO CUSTOMERS, OSANO CAPTURES A LIST OF ALL THE DATA, ALL THE VENDORS IN YOUR WEBSITE AND SENDS IT BACK TO THE SERVERS, CUSTOMERS CAN AUTOMATICALLY LOGIN AND VIEW THE VENDORS THEY SHARE DATA WITH. LOOK AT THE PRIVACY PRACTICES AND SEE HOW THEY RANK AND MAKE DECISIONS BASED ON THAT DATA, VISITORS CAN ALSO BROWSE LAWSUITS AGAINST VENDORS AND THEY CAN BROWSE HISTORICAL AND CURRENT PRACTICE POLICIES AND COMPLIANCE DOCUMENTS. LET’S SWITCH BACK TO THE PRESENTATION. DATA PRIVACY AND COMPLIANCE USED TO BE A COMPLICATED MANUAL PROCESS. OSANO MAKES IT EASY, ONE PLACE TO SEE YOUR VENDORS, PRIVACY RISKS AND RATINGS AND ALL THE DATA TRANSFERS THAT ARE HAPPENING. BY 2023 COMPANIES WILL BE SPENDING MORE THAN $3.3 BILLION PER YEAR ON DATA PRIVACY SOFTWARE WHICH IS UP FROM $500 MILLION LAST YEAR. OSANO IS TARGETING THE 90% OF COMPANIES WHO ARE NOT SERVED BY THE EXPENSIVE POINT SOLUTIONS SUCH AS THE 800 POUND GORILLA ONE TRUST WHICH IS EXPENSIVE AND HARD TO USE. I HAVE 14,000 USERS OF THE FREE PRODUCT, BY CONTRAST OSANO HAS 750,000 USERS WITH FREE COMPLAINTS PRODUCT INCLUDING THOSE COMPANIES THAT YOU CAN SEE ON THE SCREEN. THOSE COMPANIES SERVE MORE THAN 2 BILLION CONSENT DIALOGUES PER MONTH USING OUR SOFTWARE AND THIS IS A TARGET RICH ENVIRONMENT BECAUSE WE ARE ALREADY THERE COMPLIANCE VENDOR OF RECORD AND WE ARE THE BEST TEAM TO TACKLE THIS PROBLEM. I BOOTSTRAPPED MY FIRST COMPANY INTO A $50 MILLION CATEGORY LEADER. SCOTT AND I ARE COMING OFF A SUCCESSFUL VENTURE BACKED EXIT AND SCOTT IS A BRILLIANT ENGINEER HAVING RISEN THE RANKS THROUGH MICROSOFT AND DELL UNTIL HE THANKFULLY GOT THE START UP BUG AND THE DOZENS OF ATTORNEYS WHO WORK WITH US HAVE DEEP DATA PRIVACY EXPERTISE. THEIR WORK IS TRAINING THE MACHINE LEARNING MODEL SO IN THE FUTURE WE CAN AUTOMATE MUCH OF THE POLICY REVIEW PROCESS. DON’T LET YOUR VENDORS PUT YOU AT RISK. BE PROACTIVE ABOUT DATA PRIVACY, GET AHEAD OF THE LAW, GO TO OSANO WEBSITE TODAY AND SIGN UP FOR A FREE TRIAL, THE FIRST 50 COMPANIES USING THE CODE BATTLEFIELD WILL GET 50% OFF FOR A FULL YEAR. THANK YOU.>>[ APPLAUSE ] >>JUDGES?>>I HAVE A QUESTION. HOW MUCH DOES IT COST? ANNUAL, MONTHLY? >>OSANO IS INTENDED TO BE SELF-SERVICE WITH ENTERPRISE OFFERINGS THAT WE FOCUS ON THE SMALL AND MIDMARKET SO WE HAVE A FREE LEVEL, WE HAVE A MID- LEVEL AND THEN TOP WHICH IS $200 A MONTH.>>IF THEY USE THIS WILL THIS COVER ALL OF THEIR NEEDS OR DO THEY ALSO HAVE TO THINK ABOUT ONE TRUST OR SOME OTHER SERVICE? >>IF THEY USE OSANO, THEY DO NOT NEED TO USE ONE TRUST, ONE TRUST IS GREAT BUT THEY REALLY FOCUS ON THE BIG ENTERPRISE COMPLICATED WORKFLOW, YOU NEED TEAMS OF PEOPLE AND WEEKS OF TRAINING, A GREAT COMPANY THAT I RESPECT BUT IF YOU USE OSANO YOU DO NOT NEED THEM. >>YOU HAVE A STRONG WHY BUT LIKE SO MANY OTHER COMPANIES THAT HAVE THAT MANY OTHERS COME INTO THE SPACE SO CAN YOU TELL US ABOUT HOW YOU VIEW THE BARRIERS TO ENTRY. >>WE DO HAVE PROPRIETARY DATA SO THE DATA SET OF 7000 VENDORS WHERE WE HAVE THEM RANKED SO WE HAVE SOMETHING UNIQUE NOBODY ELSE HAS. WE ALSO HAVE COMPETITIVE ADVANTAGE IN THE FACT THAT WE HAVE 1 MILLION VISITORS PER MONTH TO THE WEBSITE LOOKING FOR COMPLIANCE SOLUTIONS ALREADY BECAUSE OF THE OPEN SOURCE AND OPEN CORE. WHAT WILL SET US APART ARE THOSE ITEMS AND THE FACT THAT WE ARE FOCUSED ON SMALL AND MEDIUM ENTERPRISE WHEREAS THE VAST MAJORITY OF COMPETITORS HAVE FOCUSED ON BIG ENTERPRISES, THE REASON THEY WERE FOCUSING ON GDPR EXCLUSIVELY WHERE WE ARE FOCUSING MORE BROADLY AND WE CAN HELP COMPANIES IN CALIFORNIA, BRAZIL, YOU NAME IT.>>YOU SAID 750,000 CUSTOMERS WEBPAGES AND WEBSITES, CAN YOU TELL US HOW YOU GOT THOSE CUSTOMERS? >>WE OWN AND OPERATE THE MOST POPULAR OPEN-SOURCE COOKIE CONSENT SOLUTION IN THE WORLD IT IS CALLED COOKIE CONSENT. THIS PRODUCT WAS BUILT IN 2015 BY ANOTHER COMPANY. WE ACQUIRED IT AS SOON AS WE FORMED THIS COMPANY, REBRANDED AND TOOK OWNERSHIP AND CONTINUE TO MAINTAIN. THERE ARE 1700 FORKS OF THE PRODUCT WITH MANY ACTIVE DEVELOPERS AND IF YOU HAVE SEEN A COOKIE CONSENT MY APOLOGIES IT IS PROBABLY OURS.>>YOU MENTIONED THE COMPLIANT SOFTWARE, I ASSUME THAT IS BECAUSE THE WORLD IS CHANGING RAPIDLY. IF THE WHOLE WESTERN WORLD OR THE WHOLE WORLD ADOPTS A VERSION OF GDPR WHAT DOES THE NUMBER GO UP TO? ULTIMATELY WHAT WOULD THE SPEND BE IF THE GDPR STANDARD BECAME A GLOBAL STANDARD. >>SO WE SEE THE STANDARD IS BECOMING THE GLOBAL STANDARD. THE CALIFORNIA PRIVACY LAW GOES INTO EFFECT JANUARY 1 WHICH IS EFFECTIVELY A NATIONAL LAW SO WE HAVE ALL OF WESTERN EUROPE, ALL OF THE UNITED STATES, ANYBODY WHO DOES BUSINESS IN WESTERN EUROPE OR THE UNITED STATES SO WE DO HAVE GLOBAL LAWS BEING FLAUNTED BY PEOPLE IN SMALLER COUNTRIES WITHOUT MUCH ACCOUNTABILITY. THE 3.3 BILLION DOES ACCOUNT FOR THAT WHICH CAME FROM A THIRD PARTY STUDY SO 33% COMPOUNDED ANNUAL GROWTH OVER THE NEXT FOUR YEARS. >>CAN YOU TALK ABOUT YOUR RANKING SYSTEM AND WILL YOU WORK WITH VENDORS TO CHANGE THEIR RANKING AND AGAIN YOU ARE SELF-SERVICE YOU CANNOT AFFORD TO DO A LOT OF ACCOUNT MANAGEMENT IF THE WEBSITE USES A LOWER RANKED VENDOR AND THEY GET HACKED OR THEY HAVE PROBLEMS WHAT IS THE LIABILITY AND HOW DO YOU WORK WITH THEM TO MAKE SURE THEY’RE COMPLYING WITH RECOMMENDATIONS?>>GREAT QUESTIONS. STARTING IN THE REVERSE, WE CARRY INSURANCE POLICIES AND CYBER LIABILITY SO THAT IS THE FIRST LINE OF DEFENSE IF WE MAKE A MISTAKE BECAUSE IT WOULD NOT BE INTENTIONAL. AS FAR AS RANKING VENDORS WE HAVE A PROPRIETARY 163 QUESTION ONTOLOGY SO WE HAVE TWO DOZEN ATTORNEYS WHO REVIEW ALL THE COMPLICATED COMPLIANCE DOCUMENTS AND THEN THEY ANSWER THE QUESTIONS. THOSE QUESTIONS MAP CLOSELY TO THE STANDARDS SO THE COMPANY DOES WELL ON THE RANKING THEY WILL DO WELL IN THOSE AREAS. IT IS PROPRIETARY SO WE WILL NOT SHARE THE SECRET SAUCE BUT IT IS COMPREHENSIVE AND IT LOOKS ACROSS THE SPECTRUM AT GDPR, DATA SECURITY AND MANY OTHER FACTORS. >>HOW DO YOU STAY UP-TO-DATE WITH CHANGING REGULATION?>> GOOD QUESTION. WE HAVE A LOT OF ATTORNEYS SO THAT IS HELPFUL. WHERE ONE OF THE FEATURES, WE ADVISE CUSTOMERS ABOUT NEW REGULATIONS. WE ARE SEEING MORE THAN ONE NEW REGULATION PROPOSED EVERY SINGLE WEEK. SO IT IS A FLURRY OF ACTIVITY. WE LOOK, WATCH AND MONITOR. WE ADVISE CUSTOMERS AND AS THE LAW CHANGES YOU KNOW WE WILL ADJUST THE PRODUCT ACCORDINGLY.>>FINAL QUESTION.>>COULD YOU GUYS GET TO A POINT WHERE SO YOU PROVIDE RATINGS ON VENDORS, LITIGATION INFORMATION AND A LOT OF DATA POINTS PEOPLE CAN USE. IS THERE A WAY TO GET TO THE YES OR NO AND SAY BASED ON THIS, THIS VENDOR IS IN COMPLIANCE OR NOT? >>WE HAVE PRODUCT ROADMAP ITEMS FOR CUSTOMERS TO SET THEIR OWN THRESHOLDS SO THE INTERNAL COMPLIANCE TEAMS CAN GET YES OR NO IN THE PROCUREMENT CYCLE OR IF THEY ARE LOOKING BACKWARD TO CUSTOMERS AND THE VENDORS THEY HAVE IN THEIR WALLS THEY CAN QUICKLY IDENTIFY THOSE THAT THEY HAVE TO GO REMEDIATE. >>ALL RIGHT GIVE IT UP FOR OSANO. >>TIME FOR THE NEXT STARTUP TO COME OUT, PRESENTING NOW FOR OUR NEXT STARTUP.>>THERE ARE OVER 400,000 INVESTMENT ADVISORS IN THE UNITED STATES, MANAGING OVER $70 TRILLION IN ASSETS BUT LITTLE HAS CHANGED IN THE SPACE OVER THE PAST FEW DECADES. CLIENTS EXPECT PERSONALIZED PORTFOLIOS TAILORED TO THEIR NEEDS BUT INSTEAD ARE GETTING DUMPED INTO GENERIC BUCKETS OF MUTUAL FUNDS AND ETF’S. CLIENTS PAY FOR INDIVIDUALIZED ADVICE AND EDUCATION. BUT ADVISORS DO NOT HAVE THE TIME, TOOLS OR TECHNOLOGY TO DELIVER. EXPECTATIONS HAVE CHANGED OVER THE PAST 20 YEARS AND THE TECHNOLOGY HAS NOT BEEN ABLE TO KEEP UP. HOWEVER, ADVISORS HAVE BEEN DOING ONE THING RIGHT. THEY HAVE BUILT LASTING AND TRUSTED RELATIONSHIPS WITH THEIR CLIENTS. THESE ARE ATTRIBUTES THAT TOOLS OR TECHNOLOGY WILL NEVER BE ABLE TO REPLACE. SO WE ARE INTRODUCING THIS ARTIFICIAL INTELLIGENCE PLATFORM TAILORED TO INVESTMENT ADVISORS SO THEY CAN AUTOMATE PORTFOLIO CONSTRUCTION AND MANAGEMENT. VISE AI EMPOWERS ADVISORS TO BUILD PERSONALIZED PORTFOLIOS AROUND THE CLIENT ‘S VALUES, GOALS AND DREAMS. HERE IS A LITTLE BIT MORE ABOUT HOW IT WORKS. VISE AI ANALYZES A CLIENT INVESTMENT NEEDS AND BUILDS THEM A PERSONALIZED PORTFOLIO OF STOCKS, BONDS AND OTHER ASSETS, WE THEN PROVIDE THE PORTFOLIO INTELLIGENCE FOR THEM TO EXPLAIN THOSE DECISIONS AND THE WHY BEHIND THEIR PORTFOLIO TO THE CLIENTS, ALL CLIENTS WANT TO HEAR A GOOD STORY AND TO SHOW YOU MORE LET’S MOVE TO THE DEMO. HERE IS THE DASHBOARD WHERE THE ADVISORS CAN SEE KEY ACTION ITEMS AND DATA ABOUT THEIR CLIENTS BUT THE CORE OF THE PLATFORM IS IN THE PORTFOLIO CREATOR. HERE THE ADVISORS CAN SEAMLESSLY TRANSITION EXISTING PORTFOLIOS FROM THEIR CUSTODIANS INTO VISE AI, WE DO ALL THE WORK SAVING THEM THE TIME AND THE HASSLE. NEXT WE TAKE A GOAL-BASED APPROACH TO THE INVESTMENT LOOKING A CLIENT GOALS, RISK CRITERIA, BEHAVIORAL GUILT HEALS AND OTHERS AND BUILDING A CUSTOMIZED PORTFOLIO AROUND THOSE CONSTRAINTS. NEXT WE LOOK AT THE PORTFOLIO STRUCTURE. WHETHER IT IS ASSET CLASS, STOCK OR SECTOR FOR EXAMPLE IF A CLIENT WORKS AT FACEBOOK THEY PROBABLY DON’T WANT FACEBOOK OPTIONS IN THE PORTFOLIO, THEY WANT REDUCED EXPOSURE TO TECHNOLOGY AND DEFINITELY DON’T WANT FACEBOOK. NEXT WE LOOK AT THE INVESTMENT STRATEGY WHETHER IT IS A VALUE STRATEGY OR GROWTH STRATEGY OR ANY NUMBER OF STRATEGIES WE CAN CUSTOMIZE A STRATEGY ON A FIRM WIDE BASIS OR CLIENT BASIS, WHETHER THEY WANT SMALL-CAP GROWTH OR SMALL OR LARGE CAP VALUE WE CAN BUILD IT IN AND EMBED IT INTO THE PORT FOLIO. NEXT THE ADVISOR CAN REVIEW THE PORTFOLIO HERE. UNLIKE AN EQUITY MANAGER WE LIFT THE HOOD SHOWING THE ADVISOR EXACTLY WHAT THEY ARE INVESTING IN AND WHY. WITH ENCHILADA PORTFOLIO HAS PERFORMED THROUGH DIFFERENT TIMES LIKE THE 2000 CRASH OR THE 2008 RECESSION, WE WILL THEN SHOW THEM HOW THE PORTFOLIO IS EXPECTED TO PERFORM OVER THE NEXT 20 YEARS AND LASTLY AND MOST IMPORTANTLY WE PROVIDE THE PORTFOLIO INTELLIGENCE, THIS IS THE STORY, THAT THE ADVISOR NEEDS TO TELL TO THE CLIENTS. IF YOU NEED TALKING POINTS AND JUSTIFICATIONS THE ADVISORS CAN GIVE THEM MAKING THEM LOOK SMARTER AND PROVIDING A BETTER RESULT. VISE AI AUTOMATES ALL OF THE MANAGEMENT, REBALANCING AND EVERYTHING SO ADVISORS CAN FOCUS ON WHAT THEY DO BEST, BUILDING GREAT CLIENT RELATIONSHIPS. MOVING BACK TO THE PRESENTATION. UNLIKE TRADITIONAL MODELS WE DON’T JUST LOOK AT HISTORICAL DATA WE COUPLE ADVANCED MODELS WITH MACHINE LEARNING TO BUILD A PERFECT PERSONALIZED PORTFOLIO FOR EACH CLIENT, WE THEN HAVE A PROPRIETARY NATURAL LANGUAGE GENERATION MODEL WHERE WE CAN LOOK AT OTHER PREVIOUS MODEL DID TO EXPLAIN AND JUSTIFY THOSE DECISIONS USING THE PORTFOLIO INTELLIGENCE FEATURE. OUR COMPETITION IS MOSTLY MUTUAL FUNDS AND EQUITY MANAGERS, MUTUAL FUNDS AND EQUITY MANAGERS PROVIDE LOW DIFFERENTIAL TO THE ADVISOR WITH HIGHLY GENERIC AND HIGH FEED PORTFOLIOS, SERVICE ADVISORS PROVIDE A DIGITAL ADVANTAGE TO THE MUTUAL FUNDS AND EQUITY MANAGERS BUT THEY STILL DO NOT PROVIDE THE CUSTOMIZATION AND TRUE VALUE THE ADVISORS NEED AND THEY ARE HIGH COST. THIS IS NOT JUST A DREAM. THIS IS A REALITY. WE HAVE PARTNERED WITH FORTUNE 100 INSTITUTIONS AND SUCCESSFUL TRAILBLAZERS TO GIVE US A DISTRIBUTION ADVANTAGE TO OVER 25,000 ADVISORS. WE HAVE A TEAM OF, WE CHARGE A LOW FEE OF 20 BASIS POINTS SELLING DIRECTLY TO INVESTMENT ADVISORS. WE HAVE A TEAM OF TOP PHD RESEARCHERS FROM COMPANIES LIKE GOOGLE, MORGAN STANLEY, EáTRADE AND OTHERS, THE BUSINESS TEAM HAS A BACKGROUND WITH COMPANIES LIKE WELLS FARGO AND EáTRADE AND HAS RUN SUCCESSFUL FIRMS IN THE PAST. ADVISORS HAVE FOUNDED COMPANIES LIKE FUTURE ADVISOR ONE OF THE FIRST ROBO ADVISORS AS WELL AS OTHER COMPANIES. FEEL FREE TO VISIT US AT THE VISE AI WEBSITE AND REFER US TO YOUR FINANCIAL ADVISOR, WE WOULD LOVE IT AND WE THINK YOU COULD BENEFIT AS THE CLIENT. >>[ APPLAUSE ]>>OKAY JUDGES. >>CAN YOU TALK A LITTLE BIT ABOUT WHAT TESTING YOU HAVE DONE ON YOUR MODELS IN TERMS OF PAST PORTFOLIO PERFORMANCE AND WITH YOUR GUIDANCE HOW THE OUTCOMES IN TERMS OF DESIRED RETURNS MIGHT LOOK DIFFERENT? >>THAT IS A GOOD QUESTION. THE ONE UNIQUE THING IS BECAUSE WE ARE BUILDING A PERSONALIZED PORTFOLIO FOR EACH CLIENT EVERYTHING IS DIFFERENT SO IT’S NOT LIKE WE JUST TEST ONE MACRO STRATEGY, BUT WE HAVE SEEN WE HAVE GOOD RISK-ADJUSTED RETURNS SO THE BENCHMARK IS NOT NECESSARILY ALPHA IT IS THE BEST RETURN TO LOWEST AMOUNT OF RISK AND WE HAVE TESTED THAT RATHER THAN JUST USING OVER FITTED BACK TESTING WE LOOK AT FEEDING THE DATA FROM A TIMEFRAME LIKE 1990 AND RUNNING THE MODEL FORWARD WITH NEW DATA SO IT’S FRESH. AND THEN TRAINING BACKWARDS.>>IN MOST INDUSTRIES CUSTOMERS NEED TO HEAR ABOUT SOMETHING TWICE ON AVERAGE TO PURCHASE. IT IS SO LOW HERE THAT CUSTOMERS NEED TO HEAR ABOUT THIS FOR A FIVE TIMES SO HOW DO YOU BUILD TRUST OR BUILD A TRUE BRAND FOR FINANCIAL ADVISORS? >>THAT’S A REALLY GOOD QUESTION. WE ARE ALSO PARTNERED WITH THE BIG CUSTODIANS SO CHARLES SCHWAB, EáTRADE, FIDELITY. THEY DO A LOT OF THE WORK IN TERMS OF DISTRIBUTION AND HELPING US SELL THE PRODUCT AND A PROVIDES SIGNIFICANT CREDIBILITY ESPECIALLY BECAUSE WE PARTNER WITH THEM. >>HOW DO YOU SUGGEST CHANGES? YOU’RE NOT GOING TO FLY STRAIGHT MY ACCOUNT RIGHT? >>SO AS THE CLIENT CHANGES THE ADVISOR WILL ENTER THAT AND WE WILL REALLOCATE THE PORTFOLIO ACCORDING TO THE CLIENT LOST A JOB OR THE INCOME CHANGE OR MAYBE THE GOALS CHANGED, THEY INHERIT MONEY OR IF THE MARKET CHANGES AND WE NEED TO MAKE A CHANGE WE WILL UPDATE THE ADVISOR TO SAY HEY WE ARE MAKING A CHANGE IN THIS IS WHY BUT THE ONE THING WE DO NOT DO HIS TIME BASED THREE BALANCES BECAUSE THEY HAVE BEEN PROVEN NOT TO WORK. >>OFTENTIMES WITH FINANCIAL ADVISORS THERE IS A MISALIGNMENT BETWEEN THE ECONOMIC INCENTIVES FOR THE ADVISORS AND THE BEST INTEREST OF THE CLIENT HOW DO YOU SEE THIS EITHER HELPING REALIGN WHAT YOU THINK IT WILL NOT IMPACT?>>THAT IS A GOOD QUESTION. A LOT OF MUTUAL FUNDS PROVIDE LOADS LIKE REFERRAL FEES FOR THE FUNDS SELECTED BUT THAT IS A DYING PRACTICE AND ADVISORS ARE STARTING TO REALIZE THAT AND THEY HAVE DONE THAT FOR THE LAST NUMBER OF YEARS AND WITH NEW REGULATIONS, ADVISORS ARE STARTING TO HAVE TO BECOME MORE AND MORE FOR THEIR CLIENTS SO RIGHT NOW MOST TOOLS DO NOT EMPOWER THEM BUT WE ARE BECAUSE WE ARE PROVIDING PERSONALIZATION AND A LEVEL OF TOUCH AND THE ABILITY TO BETTER EXPLAIN SO IT BUILDS TRUST IN THE PORTFOLIO. WHENEVER SOMETHING NEW HAPPENS WE WILL ALERT THEM AND CLIENTS LOVE TO GET THE PHONE CALL SAYING HEY THIS JUST HAPPENED WITH THE PORTFOLIO, A NEW GOAL HAS BEEN HIT OR THIS IS HOW YOUR STOCK POSITIONS ARE DOING. IN THE THIRD PIECE IS TRANSPARENCY. WHAT MOST ADVISORS HAVE BEEN DOING PROVIDING EQUITY MANAGED PORTFOLIOS OR MUTUAL FUND PORTFOLIOS IS THE CLIENTS DO NOT UNDERSTAND WHAT AND WHY THEY ARE INVESTING BUT WITH US WE CREATE A TRANSPARENT PORTFOLIO OF INDIVIDUAL STOCKS AND OTHER ASSETS WHERE THE ADVISOR CAN TELL THE CLIENT WHAT THEY ARE INVESTING IN AND THERE’S A TRANSPARENT SET OF FEES WHERE THEY KNOW THIS IS THE SET FEE GETTING BILLED TO YOU AND IT IS FAR CHEAPER THAN THE MUTUAL FUNDS WHICH IS IN EXCESS OF 1%.>>IS THE DASHBOARD ONLY AVAILABLE TO THE ADVISOR OR IS IT ALSO AVAILABLE TO THE PORTFOLIO OWNER? >>ONLY AVAILABLE TO THE ADVISOR BECAUSE ALL THE OTHER TECHNOLOGY EXISTS SO WE ARE INTEGRATED WITH THE COMPANIES THAT WILL PROVIDE IT TO THE CLIENT. WHERE THE INNOVATIONS NEED TO OCCUR IS WITHIN ASSET MANAGEMENT SO THIS IS THE ADVISOR FACING INTERFACE AND MAYBE EVENTUALLY WE CAN GO DIRECT TO THE CLIENT. >>TELL US MORE ABOUT THAT. WHY NOT GO DIRECT TO CLIENT? DO YOU FEEL LIKE THE ADVISORS ARE PROVIDING THEM WITH SERVICE AND THEY NEED TO HANDLE THE CUSTOMER OR MORE AND MORE CUSTOMERS WANT TO DO MORE ON THEIR OWN?>>THE AVERAGE ACCOUNT SIZE IS AROUND $30,000 SO YOU WILL NOTICE EVEN WITH MILLENNIALS AS THEY ACCRUE ASSETS THEY WANT TO TALK TO A HUMAN ABOUT THEIR MONEY AND THEIR RELATIONSHIP ELEMENT IS INCREDIBLY IMPORTANT AND IS NOT GOING AWAY. WE HAVE THIS SPACE WHICH SILICON VALLEY DOES NOT NOTICE, IT IS GROWING AT A RAPID RATE SO THE INDEPENDENT ADVISORS GREW 17% LAST YEAR CONTROLLING AN ENORMOUS AMOUNT OF THE MARKET. SO THERE ARE CLEAR ASSETS AND THEY AGGREGATE A LOT TOGETHER SOMEONE ADVISOR COULD MANAGE 100 OR 200 MILLION VERSUS GOING DIRECT TO CONSUMER AND ACQUIRING 200 MILLION BEING A LOT HARDER AS YOU HAVE SEEN WITH ROBO ADVISORS. >>THE FOCUS IS TOO SIMPLE FOR THE BUSINESS FOR THE ADVISOR SO THEY CAN FOCUS ON WHAT THEY LOVE THE MOST, THEIR CLIENTS AND CLIENTS LOVE THAT.>>THEY ARE GREAT AT BUILDING RELATIONSHIPS AND IF WE EMPOWER THAT RELATIONSHIP AND GIVE THEM THE ABILITY TO ACT SMARTER AND GET MORE EXCITED IT IS A MUCH BETTER VALUE PROPOSITION FOR THE CLIENT AND FOR THE ADVISOR. >>WHAT IS THE PURCHASE DECISION PROCESS WHEN YOU PITCH A FINANCIAL INSTITUTION, HOW DO THEY MAKE THE DECISION ON WHETHER TO BUY AND WHAT ARE THE KPIS? >>WE ARE NOT NECESSARILY GOING TO THE FINANCIAL INSTITUTIONS YET. SO IF YOU’RE THINKING MERRILL LYNCH OR OTHERS WE ARE THINKING IF YOU WERE TO START A FINANCIAL ADVISORY FIRM AND GET YOUR RICH FRIENDS TOGETHER YOU WOULD BE A CLIENT AND THERE ARE A TON OF THOSE GUYS IN THE COUNTRY SO THE WAY THEY EVALUATE IS LET’S TEST OUT THE PRODUCT AND SEE HOW WELL IT WORKS WITH SOME CLIENTS AND THEN WE CAN GROW SHARE OF WALLET OVERTIME SO THE REASON WHY WE TYPICALLY GET NO IS BECAUSE I’M TOO BUSY WORKING WITH MY CLIENTS I DON’T HAVE TIME TO GET ON THE PHONE BUT WHEN WE GOT ON THE PHONE WITH THEM AND DEMONSTRATE THE VALUE PROPOSITION LET’S TRY IT OUT AND THEN GROW OVER TIME. >>ONE MORE ROUND OF APPLAUSE FOR VISE AI. >>[ APPLAUSE ]>>YOU CAN GO NOW. ALL RIGHT. LET’S BRING OUT OUR NEXT STARTUP. CIVIC CHAMPS NOW PRESENTING.>>$2 TRILLION IN ANNUAL REVENUES. 10% OF THE U.S. ECONOMY. IF I WERE TO ASK YOU WHAT INDUSTRY THIS REPRESENTS YOU MIGHT THINK RETAIL, CONSTRUCTION, PERHAPS MANUFACTURING. THE ANSWER IS A NONPROFIT SECTOR. UNFORTUNATELY, NONPROFITS CONTINUE TO BE UNDERSERVED BY THE TECH COMMUNITY, MANY RELY ON PEN AND PAPER FOR CORE PROCESSES LIKE SCHEDULING, VOLUNTEER TRACKING, EVEN DONATIONS. TRY TO ENVISION A CONSUMER FACING COMPANY LIKE CVS OR STARBUCKS USING PEN AND PAPER FOR ITS CUSTOMER LOYALTY PROGRAM. INSTEAD, VOLUNTEERS SHOULD BE TREATED NO DIFFERENTLY THAN RETAIL CUSTOMERS. VOLUNTEERS NOT ONLY GIVE 6.9 BILLION HOURS OF SERVICE EACH YEAR, THEY ARE TWICE AS LIKELY TO DONATE AND DONATE 10 TIMES MORE THAN NON-VOLUNTEERS. INTRODUCING CIVIC CHAMPS A MOBILE PLATFORM THAT WILL FUNDAMENTALLY CHANGE HOW NONPROFITS OPERATE AND ENGAGE THEIR SUPPORTERS. CIVIC CHAMPS PROVIDES AUTOMATED VOLUNTEER MANAGEMENT BY PROVIDING THREE DIFFERENT WAYS FOR NONPROFITS TO TRACK VOLUNTEER HOURS. A MOBILE APPLICATION THAT USES GEO-FENCING TECHNOLOGY, A SELF- SERVICE KIOSK MODE THAT CAN BE LAUNCHED ON ANY DEVICE AND THE ADMINISTRATIVE FEATURE WITHIN THE MOBILE APP THAT ALLOWS STAFF MEMBERS TO CHECK IN VOLUNTEERS ON THEIR BEHALF AND TODAY WE ARE EXCITED TO LAUNCH THE INTEGRATED MICRO DONATIONS PLATFORM THAT WILL ALLOW FOR NONPROFITS TO AUTOMATICALLY CONVERT VOLUNTEERS TO DONORS. LET’S GO TO DEMO. SO, YOU ARE THE VOLUNTEERING TYPE LET’S SEE WHAT YOUR EXPERIENCE WOULD BE LIKE AT HABITAT FOR HUMANITY. AS DANA SHOWS UP SHE RECEIVES A NOTIFICATION ASKING IF SHE IS THERE TO VOLUNTEER, SHE CONFIRMS THAT SHE IS WHICH LAUNCHES A TIMER. THIS CRITICAL INFORMATION IS USED BY NONPROFITS TO UNDERSTAND THE LEVEL OF ENGAGEMENT OF THEIR VOLUNTEERS AND IT IS A KEY IMPACT METRIC USED TO SHARE WITH FOUNDATIONS AND DONORS. WHEN DANA IS DONE FOR THE DAY SHE CHECKS OUT AND CONFIRMS WHAT ACTIVITY SHE HAS DONE AND IF SHE IS PART OF A GROUP, SHE CAN NOW LEAVE A REFLECTION AND GIVE OUT A HIGH-FIVE TO THE STAFF AT HABITAT WHICH IS A FUN WAY TO SAY THANK YOU THAT SHE CAN FEEL ON HER PHONE TO HAPTIC FEEDBACK. NOW DANA, YOU JUST HAD A GREAT EXPERIENCE VOLUNTEERING. IN THIS MOMENT YOU ARE FEELING THE MOST INSPIRED. SO YOU ARE GIVEN THE OPPORTUNITY TO FURTHER YOUR SUPPORT OF THIS ORGANIZATION AND THUS SOLVING ONE OF THE KEY MISSED OPPORTUNITIES OF NONPROFITS, CONVERTING VOLUNTEERS TO DONORS. BY LEVERAGING VOLUNTEER DATA WE CAN TELL NONPROFITS WHEN TO GIVE, HOW MUCH TO GIVE AND WHAT TO SAY. IN THIS EXAMPLE DANA DONATE ONE DOLLAR FOR EACH HOUR SHE HAS VOLUNTEERED. SHE’S ABLE TO CONNECT WITH A CORPORATE MATCHING ACCOUNT WHICH DOUBLES HER IMPACT. IMAGINE IF EVERY VOLUNTEER WAS INCENTIVIZED TO DO THE SAME. THAT’S GO BACK TO PRESENTATION. ONE THING YOU MIGHT KNOW FROM WHAT YOU SAW IS A REQUIRED NO WORK FROM THE HABITAT STAFF. IT WAS SIMPLE EASY AND EFFICIENT. ONE QUESTION YOU ARE ASKED OFTEN OR WE ARE OFTEN ASKED IS WHO ARE OUR COMPETITORS? WE HAVE THREE BUCKETS, THOSE SERVING NONPROFITS, THOSE THAT SERVE VOLUNTEERS AND THOSE THAT SERVE CORPORATIONS. UNLIKE THESE COMPETITORS CIVIC CHAMPS HAS A DATABASE AND TECHNOLOGY ARCHITECTURE UNIQUELY BUILT TO SERVE THE FULL MARKET. ALLOWING FOR SEAMLESS DATA SHARING BETWEEN NONPROFITS, VOLUNTEERS AND CORPORATIONS. CIVIC CHAMPS IS TARGETING THE $1.7 BILLION CRM MARKET FOR NONPROFITS. THIS IS $6.3 BILLION AS WE ADD ADDITIONAL FEATURES AND $20 BILLION AS WE LOOK AT JC INDUSTRIES SUCH AS CORPORATE SOCIAL RESPONSIBILITY, POLITICAL CAMPAIGNS AND DONATION PROCESSING. IN THE LAST FIVE MONTHS WE HAVE GONE FROM LAUNCH TO SERVING 34 CLIENTS, 100% OF THE GROWTH COMING FROM WORD-OF-MOUTH REFERRAL. WE EXPECT 200 CLIENTS BY NEXT APRIL, THESE CLIENTS PAY BETWEEN 25 REFERRAL. WE EXPECT 200 CLIENTS BY NEXT APRIL, THESE CLIENTS PAY BETWEEN $25-$450 PER MONTH AND ARE NEAR HOME OFFICES IN BLOOMINGTON INDIANA AND PITTSBURGH PENNSYLVANIA. HOME TO A COMBINED 38,000 NONPROFITS IN JUST THE SURROUNDING AREA ALONE. PITTSBURGH IS HOME TO MY LAST TWO STARTUP COMPANIES, RENT JUNGLE AN APARTMENT SEARCH ENGINE AND A SOCIAL MEDIA MANAGEMENT AGENCY WHICH SERVED MANY NONPROFITS ALSO SOLD IN 2017. AS A TEAM WE HAVE A COMBINED 60 YEARS OF EXPERIENCE FROM PLACES LIKE McKINSEY AND COMPANY, THE UNITED WAY AND OTHER INSTITUTIONS LIKE HARVARD BUSINESS SCHOOL. SO WHETHER YOU ARE A CORPORATION LOOKING TO QUANTIFY YOUR COMMUNITY IMPACT OR YOU ARE A FOUNDATION LOOKING TO ADD TO THE CAPACITY OF YOUR AGENCIES OR YOU ARE A NONPROFIT LOOKING FOR SEAMLESS VOLUNTEER MANAGEMENT IN A WAY TO AUTOMATICALLY CONVERT YOUR VOLUNTEERS TO DONORS GO VISIT OUR WEBSITE. LET’S WORK TOGETHER AND MAKE A GREATER IMPACT IN OUR COMMUNITIES. THANK YOU.>>JUDGES FIRST QUESTION.>>YOUR CUSTOMER BASE IS NOTORIOUSLY DISPARATE, FRACTURED AND SLOW, CULTURALLY THEY DO NOT MAKE DECISIONS QUICKLY SO WHAT IS THE SALES PROCESS LIKE?>>WE HAVE BEEN SURPRISED BY THAT. IN FIVE MONTHS WE WERE ABLE TO SERVE 34 CLIENTS WHICH IS PRETTY QUICK, ONE OF THE BENEFITS IS NONPROFITS ARE NOT COMPETITIVE SO THEY ARE ABLE TO SHARE AND HAPPY TO SHARE WITH EACH OTHER WHAT WORKS SO THAT HAS BEEN PART OF OUR GROWTH. YOU ARE RIGHT AT TIMES MAYBE WE MISSED THE BUDGET SEASON FOR SOME NONPROFITS BUT THAT IS THE SAME FOR ANY OTHER INDUSTRY BUT I THINK WE DO HAVE BENEFITS IN TERMS OF HOW VIRAL THE NETWORK IS.>>I SAW A GOOD EXPERIENCE FOR THE VOLUNTEER CHECKING IN, BUT WHAT ABOUT FOR THE ORGANIZATION TRYING TO FIGURE OUT FOR THIS EVENT ANY VOLUNTEERS HOW MANY DO I NEED AND WHO IS VOLUNTEERING, CANADA VOLUNTEER MANAGEMENT SIDE? >>ABSOLUTELY. THIS IS ONLY THE TIP OF THE ICEBERG. THERE ARE A NUMBER OF FEATURES WE WANT TO BUILD FOR THE NONPROFITS INCLUDED SCHEDULING, THE ABILITY TO CURE THE EXPERIENCE BUT TO YOUR POINT ALSO TO USE THE DATA TO SAY LAST TIME YOU HAD THIS MANY VOLUNTEERS BUT IN ACTUALITY IT LOOKS LIKE YOU WERE SHORT BY SO MANY VOLUNTEERS IN THESE ACTIVITIES SO THAT IS ONE OF THE MAIN REASONS WHY WE TRACK ACTIVITIES, TO UNDERSTAND LATER ON FROM THE CAPACITY STANDPOINT WAS THAT ENOUGH?>>THERE ARE SEVERAL FEATURES WITHIN THIS PRODUCT SO IF WE WERE TO SPEAK TO ONE OF YOUR 34 CLIENTS WHAT WOULD THEY SAY ARE THE FEATURES THAT ARE REALLY ADDRESSING THE PAIN POINTS? >>SO WE WERE NOT ABLE TO SHOW SOME OF THE OTHER FEATURES LIKE THE KIOSK MODE AND THE ABILITY FOR ADMINISTRATORS TO CHECK IN VOLUNTEERS ON THEIR OWN PHONES BUT ALL OF THAT AS A COMBINED SUITE OF TOOLS ALLOWS FOR THE NONPROFITS TO USE THIS IN ANY SITUATION SO THEY DON’T HAVE TO RESORT BACK TO PEN AND PAPER. THAT IS ONE OF THE DRAWBACKS OF OTHER PLATFORMS, IF YOU ONLY HAVE A MOBILE APP YOU HAVE A LOT OF VOLUNTEERS THAT DON’T WANT TO USE THAT SO WE WANT TO MAKE SURE WE ARE ABLE TO SUPPORT THE FULL ECOSYSTEM. >>A QUICK FOLLOW-UP, SO WHEN THEY ARE GOING INTO THE APP WHERE THEY MAINLY SPENDING THEIR TIME? WITHIN THOSE FEATURES WHERE DO THEY SPEND THEIR TIME?>>FOR THE VOLUNTEERS THEY DON’T SPEND A TON OF TIME, YOU CHECK-IN AND CHECKOUT, LEAVE YOUR REFLECTION AND THAT’S ABOUT IT FOR NOW. IN THE FUTURE WE WANT TO BUILD CURATED DISCOVERY WHICH WILL ALLOW FOR CONSUMERS TO SPEND MORE TIME ON THE APP, MOST ADMINISTRATORS WHERE THEY SPEND TIME IS ON THE WEB-BASED DASHBOARD SO THAT HAS ALL THE DATA YOU CAN SEE IN YOU CAN MANAGE THE VOLUNTEER STAFF.>>CAN YOU TELL ME MORE ABOUT HOW THE VOLUNTEERS DISCOVER THE SERVICE TO BEGIN WITH? IS IT THROUGH THE ORGANIZATION? A LOT OF THESE NONPROFITS HAVE CHALLENGES IN MANAGING DAY-TO- DAY RECRUITING VOLUNTEERS TO BEGIN WITH SO IS THERE ANYTHING YOU DO TO HELP THEM RECRUIT USERS AND VOLUNTEERS?>> VOLUNTEERS TODAY DISCOVER THE APP LARGELY THROUGH THE PARTNER NONPROFITS THAT WILL SAY CAN YOU ADOPT THE SYSTEM AS A NEW WAY TO TRACK ACTIVITIES AND HOURS? IN THE FUTURE WE THINK THIS COULD BECOME A NETWORK-BASED EFFECTIVE BUSINESS IN THAT ONE OF THE KEY FEATURES WE HAVE IS YOU CAN USE CIVIC CHAMPS ACROSS DIFFERENT ORGANIZATIONS SO YOU DON’T HAVE TO HAVE YOUR APP FOR EVERY SINGLE NONPROFIT SO WHEN WE HAVE A LITTLE MORE DENSITY WITHIN THE MARKETS WE THINK THIS COULD BE AN INTERESTING TOOL FOR VOLUNTEERS TO DISCOVER PLACES TO VOLUNTEER AND TO ALSO ALLOW CLIENTS A BIGGER PLATFORM TO SORT OF RECRUIT FROM AS WELL.>>I SAW THE WAY YOU HOOKED UP THE DONATION TO CORPORATE MATCH. A LOT OF CORPORATIONS DONATE PER HOUR OF EMPLOYEE VOLUNTEERING. DO YOU HOOK INTO THAT AND VERIFY THAT THEY WERE THERE SO YOU CAN GATHER THE FUNDS? >>GREAT QUESTION. THE HONEST ANSWER IS NOT TODAY BUT WE ABSOLUTELY WANT TO DO THAT.>>CAN YOU TALK ABOUT HOW YOU CHARGE AND TO THE EARLIER QUESTION FROM DANA. BECAUSE OF THESE ACTIVITIES I IMAGINE IT COULD BE HARD TO GET COMPLIANCE IN TERMS OF TEACHING EVERYONE THIS IS HOW WE USED TO DO IT BUT WE WANT YOU TO SWITCH TO THE NEW SYSTEM AND THEN HOW MUCH EFFORT YOU HAVE TO PUT INTO TRAINING THE STAFF TO USE IT. >>SURE. SO FOR NOW WE TRY TO LEARN AS MUCH AS WE CAN BY DOING A LOT OF ON-SITE ON BOARDING. SO THAT IS PART OF THE PROCESS. I THINK FEATURES LIKE THE REMINDERS AND NOTIFICATIONS REALLY HELP BECAUSE THAT ALLOWS FOR US, AND THEN REMIND SOMEONE HEY, YOU SHOULD LOG IN AND CHECK IN SO THAT IS HOW WE HANDLE THE, THE ON BOARDING PIECE AND THE COMPLIANCE COMPONENTS.>>HOW DO YOU CHARGE?>>WE CHARGE A MONTHLY FEE, 25 $25-$450 PER MONTH IS THE RANGE TODAY AND IT IS BASED ON THE SIZE OF THE ORGANIZATION OR THE NUMBER OF VOLUNTEERS. >>ALL RIGHT GIVE IT UP FOR CIVIC CHAMPS. >>[ APPLAUSE ] NEXT STARTUP. T 4 PRESENTING NOW, T4. >>EVERY CONSULTING FIRM, EVERY INVESTMENT COMPANY, EVERY CORPORATION. NEEDS MARKET RESEARCH. IF YOU HAVE EVER HAD TO LOOK FOR IT LIKE I DID WHEN I WAS A CONSULTANT AT BAIN AND COMPANY YOU KNOW HOW PAINFUL THAT PROCESS IS. THE AVERAGE ANALYST SPENDS 19% OF THEIR DAY RESEARCHING. FOR EVERY FIVE THAT SHOW UP TO WORK, ONE SHOWS UP TO SEARCH. COMPANIES ARE PAYING ANALYSTS BILLIONS OF DOLLARS EVERY YEAR TO LOOK FOR MARKET RESEARCH. THE LAST MAJOR INNOVATION AND HOW WE LOOK FOR THIS TYPE OF DATA WAS GOOGLE, 20 YEARS AGO. WE NEED A BETTER WAY. INTRODUCING T4. A WEB PLATFORM THAT LETS ANALYSTS QUICKLY FIND COMPREHENSIVE INDUSTRY DATA. TELL T4 WHAT YOU ARE LOOKING FOR AND T4 WILL TELL YOU WHAT REPORTS CONTAIN THE DATA YOU NEED, WHETHER THEY COME FROM A PAID SOURCE OR FREE SOURCE LIKE THE CENSUS BUREAU. LET ME INTRODUCE YOU, THIS IS THE T4 UNIFIED INDUSTRY CLASSIFICATION SYSTEM A METHOD OF CLASSIFYING INDUSTRIES THAT IS 10 TIMES MORE GRANULAR THAN THE INDUSTRY STANDARD. TOM IS THE PROPRIETARY HUMAN LOOP INDEXING PROCESS. TOM INJURES WE AGGREGATE A COMPLETE SET OF MARKET RESEARCH WITHIN EACH INDUSTRY AND INDEX THE QUANTITATIVE DATA WITHIN EACH REPORT. LET’S TAKE THE EXAMPLE OF SARAH AN ANALYST AT A LEADING MANAGEMENT CONSULTING FIRM, SHE IS PREPARING AHEAD OF A CLIENT MEETING TOMORROW MORNING, SERI WILL BEGIN HER SEARCH ON GOOGLE WHICH LOOKS TO A BROAD SET OF HIGHLY IRRELEVANT SOURCES. SHE CAN LOOK AT MARKET RESEARCH AGGREGATORS LIKE MARKET RESEARCH ONLINE BUT THEY ONLY LOOKED THROUGH A SMALL SUBSET OF THE MARKET RESEARCH UNIVERSE. SARAH WILL SPEND HOURS LOOKING THROUGH THOUSANDS OF SEARCH RESULTS AND AS MANY AS A DOZEN PORTALS. THEN SARAH DISCOVERS T4. MOVED TO DEMO PLEASE. SARAH SUBSCRIBES TO THE CYBER SECURITY INDUSTRY COVERAGE, WHEN SHE OPENS T4 SARAH LANDS ON THE CYBER SECURITY DASHBOARD. HERE SHE CAN SEE INDUSTRY STATISTICS, RECOMMENDED SEARCHES AND TOP REPORTS RICH IN DATA. TO GAIN ADDITIONAL CONTEXT SHE CAN OPEN THE UICS TAXONOMY FOR THE FIRST TIME THE ANALYST CAN SEE A COMPREHENSIVE IN-DEPTH VIEW OF THE INDUSTRY, AND JASON SEES AND WHEN DATA IS AVAILABLE MARKET SIZE AND GROWTH IN A SINGLE VIEWING WINDOW. AS SARAH RETURNS TO THE DASHBOARD SHE BEGINS HER SEARCH TYPING WEB SECURITY MARKET SHARE. THE SMART ASSIST SEARCH WILL TRANSLATE THE QUERY INTO THE UICS FILTERS IN LESS THAN ONE SECOND THOUSANDS OF POTENTIAL SEARCH RESULTS INTO FOUR PAID AND ONE FREE REPORT THAT CONTAINS EXACTLY THE DATA THAT SARAH NEEDS. T4 TELLS SARAH WHICH REPORTS COME FROM TOP SOURCES AND SARAH CAN SEE WHICH PAGE NUMBER THE FREE DATA IS ON, WHAT NORMALLY TAKES HOURS, SARAH JUST DID IN 30 SECONDS. RETURN TO PRESENTATION PLEASE. THIS IS POSSIBLE BECAUSE UICS AND TOM ENABLE T4 TO COME PENSIVELY INDEX GRANULAR DATA THAT AI DOES NOT HAVE THE CAPABILITY TO PROCESS. IT IS NOT JUST FOR CONSULTANTS, WE HAVE INVESTORS, STRATEGIES, SALES AND MARKETING ANALYST WHO CAN ACCESS T4 THROUGH LICENSED CHARGING UP TO $2000 PER USER PER YEAR. 1/20 OF WHAT ANALYSTS ARE CURRENTLY PAID TO SEARCH EVERY SINGLE YEAR. INITIALLY WE ARE TARGETING THE 3.5 MILLION TECH SECTOR ANALYST REPRESENTING A $7 BILLION GLOBAL MARKET OPPORTUNITY. AS WE EXPAND INDUSTRY COVERAGE WE WILL SCALE TO THE $82 BILLION OPPORTUNITY ACROSS ALL SECTORS. OUR TEAM COMES FROM THESE LEADING ORGANIZATIONS. I HAVE LIVED AND BREATHED THE PAIN BEHIND FINDING INFORMATION THROUGHOUT MY PROFESSIONAL CAREER. OUR CTO HAS BEEN ARCHITECTING AND BUILDING PRODUCTS FROM THE GROUND UP FOR NEARLY A DECADE INCLUDING BUILDING HUMAN LOOP SOFTWARE FOR REPLACING THE HUBBLE TELESCOPE AND FOR SHARED ECONOMY MARKETPLACE PLATFORMS. SINCE LAUNCHING OUR FIRST PROTOTYPE FIVE MONTHS AGO WITH COVERAGE OF ONLY THE CYBER SECURITY AND EASE SPORTS INDUSTRIES WE HAVE TESTED THE PRODUCT WITH A DOZEN CYBER SECURITY AND EASE SPORTS TEAMS, FOR BILLION-DOLLAR PLUS HEDGE FUNDS AND PRIVATE EQUITY FUNDS AND TWO OF THE TOP FIVE MANAGEMENT CONSULTING FIRMS FORMING $2.7 BILLION OF MNA SAVING SEVEN MONTHS OF RESEARCH TIME AND RESULTING IN OUR FIRST PAID CUSTOMER. TODAY I AM EXCITED TO ANNOUNCE THAT T4 IS LAUNCHING OUR PUBLIC BETA WITH COVERAGE OF THESE TECH SECTOR INDUSTRIES. IF YOU ARE NOT CONSULTING, INVESTING, STRATEGY, SALES OR MARKETING AND YOU WANT TO SAVE HOURS OF RESEARCH EVERY SINGLE DAY GO TO OUR WEBSITE AND SIGN UP TODAY. THANK YOU.>>[ APPLAUSE ] >>QUESTION ABOUT BUDGET I LOVE THAT YOU’RE EQUATING THE COST SAVINGS HERE TO HOW MUCH FIRMS ARE SPENDING ON THEIR ANALYST THAT AS YOU PROBABLY KNOW THEY SPEND MONEY ON SUBSCRIPTIONS TO FORRESTER AND GARDNER. CAN YOU TELL ME MORE, ONE ON HOW THIS FITS IN WITH THE BUDGET THAT YOU SPEND ON THOSE REPORTING SERVICES AND THEN TWO A TECHNOLOGY QUESTION ABOUT HOW YOU GET ACCESS TO THOSE GARDENS. >>SURE, I WILL BE HAPPY TO TAKE THOSE QUESTIONS. THE FIRST QUESTION, WHICH WAS ABOUT THE MONEY. HOW DO THEY PAY. THE COST OF T4 IS A FRACTION OF WHAT THE TYPICAL FIRM PAYS FOR RESEARCH, A LOT OF THE CORPORATE PAY SEVERAL HUNDREDS OF THOUSANDS OF DOLLARS, SOMEONE LIKE BAIN OR McKENZIE THAT IS NEAR $100 MILLION. >>MY QUESTION IS THIS DOES NOT GET RID OF THAT SPEND THEY HAVE TO SUBSCRIBE AND THEN USE T4 ON TOP OF IT ?>>CORRECT, YES. CURRENTLY FOR EVERY DOLLAR THAT A FIRM IS SPENDING ON MARKET RESEARCH THERE SPENDING TWO DOLLARS TRYING TO FIND IT. WITH REGARDS TO THE SECOND QUESTION HOW DO WE GET THIS DATA, FOR THE PAID DATA IT IS EASY TO INDEX, OR FOR FREE DATA IT IS EASY, FOR THE PAID DATA WE INFER WHAT INFORMATION THERE IS BASED ON PUBLICLY AVAILABLE INFORMATION. WE HAVE TESTED ACCURACY WITH RESEARCHERS AT SOME OF THE TOP CONSULTING AND PRIVATE EQUITY FIRMS AND OFTENTIMES WE BEAT THOSE SEARCH PORTALS. >>IF I WAS READING WHAT YOU SAID ABOUT THE PRICING ACCURATELY IT IS PER ANALYST PRICING IS THAT RIGHT? HOW DO YOU AVOID THE SHARED LOGIN PROBLEM WHERE ALL FIVE OF US SHARE THE SAME LOGIN?>>THE PROBLEM WITH SHARED LOGIN DOES NOT REPLACE THE EXISTING PROBLEM WHERE A LOT OF THESE PEOPLE HAVE RESEARCHERS THEY CAN REACH OUT TO WITH A CENTRALIZED PERSON BUT ONE OF THE BIGGEST ISSUES IS THAT THERE IS A LONG TURNAROUND TIME. BY DISTRIBUTING THIS ACROSS MORE ANALYSTS YOU ARE REDUCING THE TURNAROUND TIME INCREASING THE TEMPO AT WHICH THE ORGANIZATION OR TEAM CAN RUN THEIR BUSINESS.>>HOW DO YOU THINK THE PAID RESEARCH SERVICES WILL VIEW YOU GUYS? DO THEY SEE YOU AS ADDITIVE BECAUSE YOU MAKE THEIR PRODUCT EASIER TO USE OR DO THEY SEE YOU AS A THREAT? IF SO, WHY? >>WE ARE ESSENTIALLY LEAD JEN FOR THEM, WE TELL YOU WHICH REPORTS CONTAIN THE DATA YOU NEED WHEN YOU SEARCH AND WE LINK YOU TO THE REPORT. IN THE FUTURE WE WOULD LIKE TO START CREATING PARTNERSHIPS WITH PUBLISHERS. WE THINK THERE IS POTENTIAL IN THE MARKETPLACE WHERE WE CAN RESELL SOME OF THE DATA SO WE THINK THERE IS POTENTIAL FOR THAT. >>DOING YOUR OWN RESEARCH WITH POTENTIAL CUSTOMERS, HOW HAVE YOU, I GUESS WHAT REPLIES HAVE YOU BEEN GETTING TO THEM AROUND THE NO AND WHAT REASONS HAVE THEY BEEN GIVING FOR THOSE?>>FOR THE ANALYST OR PUBLISHERS?>>BOTH WOULD BE HELPFUL. >>WITH REGARD TO THE ANALYSTS A LOT OF THE INITIAL NO WOULD BE WHEN THE ANALYST MIGHT SAY I ONLY HAVE FIVE OR 10 MINUTES PER DAY IN ORDER TO SEARCH FOR MARKET RESEARCH. WHEN WE DIG IN IT ACTUALLY TURNS OUT THERE SPENDING MORE TIME AND ONE OF THE BIG VALUE THINGS WE CAN OFFER IS IF YOU DO SPEND 10 MINUTES PER DAY WE CAN MAKE THAT 10 MINUTES THE EQUIVALENT OF FIVE HOURS OF RESEARCH AND THAT BEGINS TO RESONATE MORE BECAUSE THIS RESEARCH IS ESSENTIALLY INFORMING MILLIONS OF DOLLARS OF POTENTIAL DUE DILIGENCE PROCESS THEY ARE ABOUT TO ENGAGE WITH FOR EXAMPLE MNA. WE ARE ONLY BEGINNING TO ENGAGE WITH PUBLISHERS AND WE DON’T QUITE HAVE THE ANSWER YET.>>OF THE FIRMS THAT WOULD BE YOUR CUSTOMERS HOW MUCH DO THEY REALIZE THIS IS A PAIN POINT? WHAT THEY SAY YES THIS IS A HUGE DISASTER WE HAVE TO SOLVE OR HAVE YOU DISCOVERED SOMETHING THAT IS NOT REALLY OCCURRED? >>THIS WAS A PAIN I MYSELF FELT PREVIOUSLY AND BEFORE WE BEGAN DESIGNING THE PRODUCT WE SPOKE TO HUNDREDS OF PEOPLE ACROSS INDUSTRIES TO VALIDATE THIS TRULY IS A PAIN POINT ACROSS COMPANIES. WHAT WE DISCOVERED IS YES THIS IS A PAIN POINT AND WHEN WE SHOW SOMEBODY THE DEMO AND HOW QUICKLY THEY CAN FIND INFORMATION RELEVANT TO THEM THAT REALLY HITS HOME ON EVERY SINGLE DEMO THAT WE EVER SHOW.>>WHAT IS THE FEEDBACK LOOP TO THE HUMAN LOOP PRODUCT OR THE AI PRODUCT IN TERMS OF YOU ARE GETTING RESULTS AND SOME ARE RELEVANT AND SOME ARE NOT. HOW DO YOU MAKE THE PRODUCT GET BETTER OVER TIME?>>I’M HAPPY TO TAKE THAT. CURRENTLY THE HUMAN LOOP PROCESS IS IN THE BACK END INDEXING SIDE, ON THE FRONT END WE SHOW YOU HOW WE INDEX THE RESULTS, WHAT WE ALLOW USERS TO DO IS TO REACH OUT TO THE RESEARCH TEAM IN CASE THEY ARE STRUGGLING TO FIND INFORMATION OR IF THEY FIND SOMETHING ERRONEOUS AND THEN WE TAKE ACTION. VERY SIMILAR TO WHAT PITCH BOOK DOES FOR EXAMPLE. >>HOW ABOUT THE SECTORS? YOU HAD NETWORKING AND DATA CENTERS AND ELECTRONIC SPORTS AND A FEW OTHERS HOW DO YOU ADD OR DECIDE WHICH SECTORS TO ADD NEXT AND HOW LONG DOES IT TAKE TO ADD?>>WE DECIDE WHAT SECTORS TO ADD BASED ON CUSTOMER DEMAND AND WHERE WE SEE THE MOST ACTIVITY. SO WE DECIDED TO DO THE TECH SECTOR FIRST WHICH WE WILL COMPLETE NEXT YEAR BECAUSE THAT IS WHERE WE SAW THE MOST ACTIVITY AND THAT IS WHERE CUSTOMERS WANTED THEIR PRODUCTS. >>ONE MORE ROUND OF APPLAUSE FOR T4. >>[ APPLAUSE ]>>GOOD. NEXT UP WE HAVE PRESENTING FOR ORBIT FAB. COME ON OUT.>>EXCELLENT TRANSPORT SOLUTION BECAUSE YOU CAN DRIVE AN ALMOST UNLIMITED DISTANCE WITH THEM BECAUSE THERE IS A GLOBAL NETWORK FOR DISTRIBUTING PROPELLANT OF FUEL, IMAGINE IF THE NETWORK DID NOT EXIST AND YOU HAD TO TAKE AROUND ALL THE FOOL FUEL YOU WOULD NEVER NEED. DAD FEEL WOULD EXTEND MAYBE 100 YARDS DOWN THAT IS A LOT, IT IS IMPOSSIBLE TO THINK ABOUT THROWING AWAY A CAR AFTER IT HAS USED UP ITS FIRST TANK OF GAS BUT THAT IS THE REALITY WE LIVE WITH IN THE SPACE INDUSTRY TODAY. I HAVE LIVED THIS FRUSTRATION PERSONALLY. A COMPANY I SET UP IN 2011 WE TRY TO PURCHASE THE A IMPORTED SATELLITE WHICH COST $400 MILLION TO BUILD AND SHOULD’VE BROUGHT IN $6 BILLION IN REVENUE BUT THERE WAS A GLITCH WITH THE LAUNCH VEHICLE AND WAS PUT IN THE WRONG ORBIT AND HE DID NOT HAVE ENOUGH FUEL FOR US TO TAKE IT WHERE WE NEEDED BECAUSE WE COULD NOT GET ANY MORE FUEL WE HAD TO DESTROY THE SATELLITE TO AVOID IT BECOMING DANGEROUS DEBRIS. THIS IS NOT AN ISOLATED INCIDENT THIS HAPPENS ALL THE TIME. IN THE LAST DECADE ALMOST 200 SATELLITES WORTH ABOUT SORRY $100 BILLION HAVE HAD TO BE DESTROYED BECAUSE THEY HAVE RUN OUT OF FUEL. NOW WE HAVE THE OPPORTUNITY TO RECOVER BILLIONS OF DOLLARS OF LOST REVENUE. I AM THE CEO OF ORBIT FAB WE ARE BUILDING GAS STATIONS IN SPACE. I HAVE SPENT 22 YEARS IN THE SPACE INDUSTRY , I HAVE BUILT A DOZEN SATELLITES SEVERAL SUCCESSFUL PRODUCTS AND THIS IS MY FOURTH STARTUP COMPANY. I HAVE LIVED WITH THE FRUSTRATION OF HAVING ONLY ONE TANK OF GAS FOR FAR TOO LONG. IT IS TIME TO STOP THROWING SATELLITES AWAY. HERE IS WHAT WE DO, WE BUILT TANKS, WE PUT THEM ON ANY AVAILABLE LAUNCH VEHICLE SO WE GET THE BEST DEAL PUTTING THEM IN SPACE, IN SPACE WE MANAGE THE LOGISTICS AND AUTO MECHANICS AND DELIVER THE RIGHT FUEL TO CUSTOMERS WHEN THEY NEED IT, CUSTOMERS CAN SAVE 50% ON THE CAPITAL EXPENDITURE AND WE TAKE HOME GROSS MARGINS OF 90%. YOU MAY ASK WHY HAS THIS NOT BEEN DONE? THERE IS A CATCH 22. NO SYSTEM EXISTS FOR SAFELY AND RELIABLY FUELING A SATELLITE IN SPACE. SO WE SET OUT TO SOLVE THAT PROBLEM FIRST. FAMOUS SCIENCE FICTION AUTHOR ONCE SAID WHEN YOU GET TO LOW EARTH ORBIT YOU’RE HALFWAY TO ANYWHERE IN THE SOLAR SYSTEM SO WE LIKE TO THINK WHAT WE BUILD IS THE KEY TO THE SOLAR SYSTEM, THIS IS A GAS CAP. THIS FUELING PORT ALLOWS SATELLITES TO BE REFUELED SAFELY AND RELIABLY IN ORBIT, WHEN YOU LOOK AT THE FLUIDS THAT ARE FLOWING IN ORBIT GRAVITY DOES NOT TAKE THEM AWAY SO THE SURFACE TENSION AND OTHER EFFECTS ARE COMPLICATING HOW FLUIDS BEHAVE, WE SOLVED THAT PROBLEM AND MANY OTHERS SO BACK TO THE PRESENTATION. WHAT YOU CAN SEE HERE IS THE FUELING PORT AND AN ACTIVE HALF THAT ALLOWS US TO CONNECT SO WE HAVE DEVELOPED THESE AND JEREMY HERE IN THE DEMONSTRATION IS SHOWING THE ACTIVE HALF, THE ROBOTIC ARMS ON THIS WITH THE SMALL ARMS ON THE SIDE CLOSE AROUND THE FUELING PORT GIVING IT ALIGNMENT TOLERANCE A LOT OF SELF ALIGNMENT SO NASA HAS BEEN RESEARCHING THIS PROBLEM AND THEY HAVE DEVELOPED A GOOD SOLUTION WHICH ARE SHOES WITH EXPENSIVE COMPLEX ROBOTS THAT LINE UP THE PORTS TO CONNECT THEM BUT WE SEE A FUTURE WHICH IS A BUSTLING SPACE ECONOMY WERE SATELLITES CAN COME AND TALK AND APART WITHOUT THE NEED FOR VERY EXPENSIVE ROBOTIC GAS STATION ATTENDANTS. SO IT WORKS BY COMING INTO PROXIMITY OF THE SATELLITE, THE ARMS CLOSE AND YOU CAN TRANSFER HIGH PRESSURE PROPELLANT, WHEN THE TRANSFER IS DONE THE SPACECRAFT IS RELEASED, IT GOES OFF TO ORBIT WHERE IT CAN MAKE MORE MONEY FOR ITS OWNERS. BACK TO THE PRESENTATION. THIS FUELING PORT HAS BEEN BUILT AT A SMALL SIZE, A SMALL WEIGHT AND COST, THE SAME EXACTLY AS THE FIELD PORTS THEY CURRENTLY USE TO FILL UP SATELLITES ON THE GROUND WITH THEIR FIRST TANK OF GAS BUT THIS ONE CAN BE REFUELED. WE ARE GETTING RAPID CUSTOMER ADOPTION. WE HAVE ALREADY FLOWN THESE TO THE INTERNATIONAL SPACE STATION, A LOT OF THESE TECHNOLOGIES SO HERE THERE ARE TWO TESTBEDS WE TRANSFERRED TO TEST THE PUMPS AND THE VALVES WITH WATER. THOSE WENT UP FULL OF WATER AND CAME BACK TO US JUST LAST WEEK EMPTY. THE UNIT YOU SEE HERE IS THE SAME UNIT ON THE INTERNATIONAL SPACE STATION JUST WEEKS AGO. IN CASE YOU THINK THIS IS A SCIENCE EXPERIMENT, WE WORK WITH 20 COMPANIES TO DEVELOP A STANDARD FUELING PORT. THEY ARE LOOKING FOR A FUELING PORT. WE WILL BE SHIPPING TO THE NEXT FEW WEEKS 10 FUELING PORTS. WE HAVE CONTRACTS WITH THE U.S. AIR FORCE AND THE JAPANESE CONGLOMERATE IN PARTNERSHIP WITH LOCKHEED MARTIN AND MANY OTHER DEALS. THE TEAM PUT THIS TOGETHER, YOU’VE HURT MY BACK ON, MY LAST BACKGROUND WAS BUILDING SMALL THRUSTERS TO GO INTO SATELLITES. THAT WAS ACQUIRED LAST DECEMBER. JEREMY, MY COFOUNDER, HE HAS AN INTERNATIONAL BUSINESS BACKGROUND AND IS THE VICE CHAIR AT AN INDUSTRY ASSOCIATION BACKED BY DARPA WORKING TO STANDARDIZE SATELLITES. AND MY FRIEND JAMES HAS FIVE PAYLOADS ON THE SPACE STATION AND BUILT THREE SALADS AND HE BUILT OUR HARDWARE FOR THE SPACE STATION IN ONLY 4 1/2 MONTHS. >>WRAP IT UP. >>ORBITFAB IS BUILDING THE NEXT LAYER OF INFRASTRUCTURE FOR THE SPACE INDUSTRY. IF YOUR COMPANIES ARE BUILDING SATELLITES, COME AND TALK TO US ABOUT THE FUTURE. [ APPLAUSE ] >>I WOULD LIKE TO SHARE THE FUELING PORT. >>90% GROSS MARGINS ARE IMPRESSIVE BUT WITH ANY HARDWARE BUSINESS, PARTICULARLY IN SPACE, I WOULD’VE THOUGHT THIS WOULD BE PRETTY CAPITAL INSENSITIVE. CAN YOU TELL ME MORE ABOUT THE COST AND THE CAPITAL FUNDRAISING PLANS IN THE NEXT FEW YEARS? >>I’M GLAD YOU ASKED ABOUT THAT. BECAUSE OF MY EXPERIENCE, I KNOW WHERE A LOT OF INEFFICIENCIES ARE SO I’VE BEEN ABLE TO FIND WAYS TO DO THIS VERY CHEAPLY. THE FLIGHTS TO THE SPACE STATION WERE COVERED BY THE INTERNATIONAL SPACE STATION NATIONAL LAB, A SHOUT OUT TO CASES FOR ANYONE WHO KNOWS THEM AND THE ACTUAL TIME WAS PART OF THAT. THEY HELP AMERICAN INDUSTRY TO COMMERCIALIZE SPACE IN A REALLY BIG WAY. SO THAT IS ONE OF THE WAYS THAT WE HAVE BEEN ABLE TO DO THIS. OBSESSED WITH THE MINIMUM VIABLE PRODUCT TO BRING TO THE SPACE AGENCY, AT OUR PRODUCT IS 2 TO 3 ORDERS OF MAGNITUDE LOWER THAN WHAT OTHERS CONSIDERED NECESSARY TO GET INTO THE BUSINESS. >>WHICH IS HOW MUCH, ROUGHLY? >>WE EXPECT ABOUT $20 MILLION OF CAPITAL TOTAL TO PHILLY BUILDOUT THE SYSTEM. >>IS THAT $20 MILLION THE FIRST WORKING SYSTEM AND THEN YOU NEED MORE OR IS THAT ALL YOU NEED? >>THAT IS TO GET THE POSITIVE CASH FLOW. SO WE WOULD CONTINUE TO BUILD OUT THE SYSTEM AS CUSTOMER DEMAND GROWS BUT THAT IS THE INITIAL SYSTEM. >>ARE YOU SELLING THESE TWO PEOPLE WHO ARE THEN BRINGING THEM TO THE SATELLITES? OR ARE YOU RESPONSIBLE FOR GETTING THESE TO THE SATELLITES? >>THIS IS A SYSTEM THAT WOULD BE ADOPTED BY THE SATELLITES AND THEN IT WOULD BE LAUNCHED INTO ORBIT. WE WORK WITH A LOT OF CUSTOMERS OPERATING EFFECTIVELY TOW TRUCKS, SERVICING VEHICLES THAT CAN GO AND DEAL WITH THE LEGACY SYSTEM. THEY’VE DEVELOPED COMPLEX ROBOTICS AND EVERYTHING NEEDED FOR A SYSTEM THAT WASN’T DESIGNED TO BE SERVICED. OUR SYSTEM IS DESIGNED TO SERVICE THEM SO THE TOW TRUCK CAN BE REFUELED AND DO A LOT MORE WORK. ALSO FUTURE SATELLITES BEING EQUIPPED WITH THESE SYSTEMS CAN THEN DIRECTLY GET REFUELED. >>SO YOUR SYSTEM CAN WORK WITH LEGACY SATELLITES? >>NOT DIRECTLY, BUT THROUGH THE SATELLITE SERVICING COMPANIES. AND THOSE COMPANIES ARE BUILDING THESE TOW TRUCKS LIKE PURCHASING A NEW TOW TRUCK, THEY CAN TOW THREE CARS, BUT THEY’VE ONLY GOT ONE TANK OF GAS, THEY HAVE TO THROW THE TOW TRUCK AWAY AND BUY ANOTHER TOW TRUCK. WORKING WITH US, WE CAN DELIVER FUEL AND THEY CAN TOW TENS OR HUNDREDS AND IT CHANGES THE ECONOMICS. THOSE 30 COMPANIES WORKING TO BRING IT TO MARKET ARE KEEN TO WORK WITH US AND WE HAVE A LOT OF DEALS. >>HOW DO YOU THINK ABOUT I GUESS THE ERGO THE ECONOMICS OF IT, $20 MILLION TO CREATE THE PRODUCT, HE SAID MAYBE TO GET THE CASH FLOW BREAK EVEN, BUT PER LAUNCH ECONOMICS, HOW MUCH DOES IT COST TO PREPARE THE ONE SYSTEM, GET IT INTO ORBIT, REFILL, AND THEN DO WHAT YOU DO WITH IT? >>THAT IS A VERY IMPORTANT PART OF THE BUSINESS MODEL. BECAUSE WE KNOW THE LAUNCH COMPANIES AND WE CAN WORK DEALS WITH THEM, WE ALSO HAVE A PAYLOAD THAT IS RISK TOLERANT AND SCHEDULE TOLERANT. SO WE CAN BE A PAYLOAD THAT FITS IN WHEN THERE IS AN OPPORTUNITY. AND THAT WAY, WE CAN BE VERY LOW-COST TO GETTING FUELED ORBIT WHERE AS THE CUSTOMERS WITH SATELLITES THAT PUT FUEL INSIDE THE SATELLITE, THEY PRAY, THEY ARE PLAYING THE PREMIUM RATE TO LAUNCH ON TIME WHEN THEY NEED. WE ARE ABLE TO GET GOOD DEALS WITH LAUNCH COMPANIES GIVING US A LEG UP. >>YOU CAN THINK OF US AS THIRD CLASS MAIL. >>[ LAUGHTER ] SO CAN YOU TALK A LITTLE BIT MORE ABOUT THE CAPITAL REQUIREMENTS IN TERMS OF IS THERE A PROOF OF CONCEPT OR SOMETHING YOU DO WITH LESS CAPITAL THAT WILL PROVE TO FOLKS THAT THEY SHOULD GIVE YOU THE REST OF IT? OR DO YOU NEED ALL AT ONE TIME? >>ABSOLUTELY, IT IS DEFINITELY STAGED. YOU CAN SEE THE UNIT WE SENT TO THE INTERNATIONAL SPACE STATION, THE PLUMBING, THE VALVES AND TANKS, EXACTLY THE SAME AS WHAT WE WILL HAVE ON THE MINIMUM VIABLE PRODUCT TANKER. WE TAKE THE STATE OF THE SAME SIZE AND PUT SOLAR ARRAYS AND AVIONICS PACKAGE AND THIS BECOMES THE FIRST OPERATIONAL TANKER AND WE EXPECT TO LAUNCH IT EARLIER NEXT YEAR. >>HOW MUCH DO YOU NEED TO GET TO THAT MILESTONE? >>WE HAVE JUST SIGNED A C GROUND SHOUT OUT TO MIKE ONE VENTURES AND THAT IS $3 MILLION. THAT WILL COVER THE LAUNCH OF THE FIRST TANKER. >>YOU THINK THE PROOF THAT WILL ENABLE YOU TO GET OTHER CUSTOMERS TO SAY THEY ARE IN? >>THAT’S ABSOLUTELY RIGHT. WE HAVE CUSTOMERS LINING UP. BY THE END OF NEXT YEAR, WE INTEND TO DO A FULL END-TO-END FUEL DEMONSTRATION WITH IN PARTNERSHIP WITH ONE OR TWO CUSTOMERS AND THAT WILL OPEN THE FLOODGATES TO BE ABLE TO SIGN CONTRACTS. >>THE PICTURE SHOWED THE BOX OF WATER INSIDE THE STATION, BUT I ASSUME THIS IS GOING TO LIVE OUTSIDE? SO I GUESS, HAVE YOU TESTED TO MAKE SURE THE WATER WON’T FREEZE? >>A REALLY GOOD QUESTION. SO HAVING A LOT OF EXPERIENCE IN THE INDUSTRY, WE’VE DONE THE DESIGNS TO MAKE SURE THAT THE THERMAL AND STRESS IN THE VACUUM ARE ALL GOING TO BE ACCEPTABLE WITH THIS DESIGN AND LIKE I SAID, WE NEED TO ADD SOME SYSTEMS TO THIS, THE SOLAR ARRAYS AND AVIONICS BEFORE IT CAN BE A FREE FLYING TANKER. WE’VE DONE THOSE DESIGNS AND STARTED DOING THE TESTING AND THAT IS ALL PLANNED FOR THE NEXT 6 TO 9 MONTHS. >>A REALLY QUICK FINAL QUESTION. ALL RIGHT, GIVE IT UP FOR ORBITFAB. [ APPLAUSE ] >>I BELIEVE THE GAS IS OVER THERE SO WE DON’T LOSE IT. THAT CONCLUDES THE THIRD SESSION OF THE STARTUP BATTLEFIELD. THE JUDGES WILL FOLLOW ME BACKSTAGE AND THEY WILL HELP CHOOSE FINALISTS WHO WILL BE ANNOUNCED TONIGHT. BEFORE THAT, LET’S GIVE IT UP ONE MORE TIME FOR AWESOME JUDGES. [ APPLAUSE ] >>AS COMPANIES TRANSITION TO USING, MORE APIS ARE CREATED ACROSS THE ORGANIZATION. WITH THIS INCREASE, IT CAN BECOME MORE CHALLENGING FOR DEVELOPERS TO USE THE INTERNAL APIS AND USE THEM. THAT IS WHERE RAPID API FOR TEAMS CAN HELP. RAPID API FOR TEAMS ENABLES DEVELOPING TEAMS TO PUBLISH INTERNAL APIS INTO A PRIVATE WORKSPACE. THEY CAN FIND ANY INTERNAL API AND VIEW THE DOCUMENT INTESTATE AND CONNECT DIRECTLY OR COLLABORATE AND SHARE INFORMATION ABOUT THE API RIGHT IN RAPID API. TEAM MEMBERS CAN SUBSCRIBE TO ANY PUBLIC API AVAILABLE ON THE RAPID API MARKETPLACE AND THE ENTIRE TEAM CAN SEE AND USE THE SUBSCRIPTION. THIS WAY YOU ONLY PAY ONCE FOR ANY API YOUR TEAM USES. RAPID API FOR TEAMS MAKES IT EASIER TO SHARE AND COLLABORATE ON APIS. IT STARTED TODAY ON RAPID API.COM/TEAMS. [ MUSIC ] >>WHY DID THEY COME TO THIS WORKSHOP, TO LEARN. >>I WANT TO BE WHERE WE ASK QUESTIONS LIKE WHY, AND THE BIG QUESTION I ASK IS WHAT IF? IT IS A DIFFERENT WAY OF THINKING AT STANFORD THAN IT IS AT ANY OTHER UNIVERSITY IN THE WORLD. >>I REALIZED I WAS GETTING STALE, SO I SAID, YOU KNOW WHAT, IT’S TIME FOR ME TO MOVE ON AND LOOK FOR GREATER THINGS. AND HAVE MORE IMPACT. [ MUSIC ] >>AT LOCKHEED MARTIN, WE ARE ON A MISSION, YOUR MISSION. WHEN MILLIONS OF PEOPLE ARE COUNTING ON YOU, YOU CAN COUNT ON US TO BUILD THE IMPOSSIBLE, TO INVENT THE INCONCEIVABLE, AND SOLVE EVERY PROBLEM WITH SPEED AND RELIABILITY. EVERY MISSION IS AN EXPEDITION OF THE GREATEST IMPORTANCE BOTH TO YOU AND TO US. >>WHAT TECHNOLOGY DO YOU THINK WILL BEST HELP US DEAL WITH NATURAL DISASTERS? GO TO THE IBM BOOTH NUMBER THE F 1 TO PICK YOUR FAVORITE FROM THE CALL FOR CODE FINALISTS. OVER 5000 PEOPLE HAVE ALREADY VOTED. >>LADIES AND GENTLE MAN, PLEASE WELCOME BACK TECH CRUNCH MANAGING EDITOR AND DISRUPT Mc JORDAN KRUK >>WHAT’S UP? DID ANYBODY HAVE A GOOD LUNCH? THANK YOU. YEAH? ARE WE GOOD? CAN I GET SOME ENTHUSIASM IN THE ROOM? COME ON. >>YES. WE ARE HALFWAY. EXACTLY, THROUGH THE SHOW. BUT I DON’T WANT YOU GUYS TO FRET, BECAUSE WE HAVE AMAZING THINGS IN STORE. ONE OF WHICH IS COMING UP RIGHT NOW ACTUALLY ON THE EXTRA CRUNCH STAGE. I JUST ALWAYS PANIC THAT MY FLY IS DOWN. HOW DO I EXIT, AND IS GOING TO BREEZE BY. HOW DO I EXIT AND WHAT HAPPENS NEXT? THAT WILL BE WITH JUSTIN KOHN, COFOUNDER AND CEO OF ATRIUM. PARTNER AT SEQUOIA CAPITAL AND MIKE MARQUEZ WHO IS THE COFOUNDER OF CODE ADVISORS. THAT WILL BE A HOT ONE. IF YOU WANT TO CHECK THAT OUT, NOT NOW IS THE TIME TO DO IT. AND FOR THOSE OF US WHO WANT TO STAY SAFE AND SECURE AND PRIVATE, I WILL BRING UP OUR NEXT GUEST. PLEASE WELCOME TO THE STAGE, ADMIRAL MIKE ROGERS FROM THE FORMER DIRECTOR OF NATIONAL SECURITY AGENCY AND THE COFOUNDER AND CEO OF TEAM 8 AS WELL AS YOUR MODERATOR, ZACH WHITAKER. A WARM WELCOME, PLEASE. [ APPLAUSE ] [ MUSIC ] >>OKAY, WE HAVE THIS LOWERED ONE. GOOD AFTERNOON. I HOPE LUNCH WAS GOOD. I’M REALLY EXCITED ABOUT THIS PANEL. MIKE, YOU HAVE SPENT A VERY LONG >>I WROTE NOTES. WE GOT A VERY LONG CAREER, I SPENT TWO DECADES, YOU SPENT TWO DECADES IN THE NAVY IN 5 YEARS OF AN ESSAY. >>I SPENT ALMOST 4 DECADES IN THE NAVY. >>AND YOU SERVED TO PRESIDENTS, YOU OVERSAW THE NSA DURING THE PERIOD OF HEIGHTENED TENSIONS BETWEEN THE U.S. AND SOME OF THE OTHER NATIONS IN THE WORLD. YOU ARE NOW A PRIVATE CITIZEN AND YOU ARE WORKING FOR TEAM 8 FOUNDED BY HIM SITTING NEXT TO YOU, WHO USED TO RUN ISRAEL’S VERSION OF THE NSA. I’M DELIGHTED TO HAVE YOU BOTH HERE. IT’S BEEN A YEAR SINCE HE RETIRED FROM THE AT ESSAY AND YOU BEGUN WORK FOR TEAM 8 STARTUP STUDIO AND FOR THOSE OF YOU THAT DON’T KNOW, BUT YOU MUST, YOU SHOULD. YOU MUST’VE HAD A LOT OF OPTIONS POST GOVERNMENT, WHY DID YOU CHOOSE TEAM 8? >>FOR ME, NUMBER ONE, WAS INTERESTED JUST AS I WAS IN THE MILITARY, THAT’S PROBABLY WHAT ATTRACTED ME. I WAS INTERESTED IN THE MISSION I CARED ABOUT AND I WASN’T INTERESTED IN DOING SOMETHING JUST ABOUT MONEY. I WAS INTERESTED IN DOING SOMETHING I THOUGHT COULD GENERATE BETTER OUTCOMES AND CYBER SECURITY WAS AN AREA, IT WASN’T JUST WHAT I DID IN THE GOVERNMENT, IT WAS SOMETHING I BELIEVE IN AND I WANT TO BE INVOLVED IN THINGS THAT I THOUGHT COULD IMPROVE CYBER SECURITY IN THE PRIVATE SECTOR AND ON A GLOBAL BASIS, NOT JUST HERE IN THE NINE STATES. I LOVE THE PEOPLE. I LOVE THE MODEL AND THE CHANCE TO WORK TOGETHER. WE DO NOT SERVE OUR ASPECT OF JOBS, HE WAS THE LEADER OF THE 8200, THE NSA EQUIVALENT IN ISRAEL AND MAY, THE UNIT 8200 IN THE WEST, THE NSA. WE DIDN’T OVERLAP BUT I KNEW HIM BY REPUTATION. BECAUSE IT IS A SMALL WORLD OUT THERE IN THIS AREA, AND I JUST THOUGHT, I WOULD LOVE TO WORK WITH HIM. >>SO WHAT WAS THE DRIVING FORCE BEHIND WORKING FOR TEAM 8? WAS IT THE STARTUPS OF THE RELATIONSHIP THAT YOU HAD? >>IT IS NUMBER ONE, THE MODEL, THE IDEA THAT TEAM 8 IS AN ORGANIZATION THAT WAS THE FOCUS ON HARD CYBER CYBER, CYBER SECURITY PROBLEMS THAT IF WE CAN SOLVE THEM, IT WILL MAKE A SIGNIFICANT DIFFERENCE. NUMBER TWO, I LIKE THE FACT THAT, BECAUSE THIS IS SOMETHING I USED TO SAY IN GOVERNMENT. I WOULD SAY LOOK, IT’S GREAT TO DEVELOP TECHNOLOGY, BUT IF WE CAN ACTUALLY APPLY THIS IN A MEANINGFUL WAY, WE’RE SPENDING A LOT OF MONEY FOR NO PURPOSE. IT IS ABOUT HOW DO WE GET TO OUTCOMES AND THE OUTCOME ISN’T JUST THE DEVELOPMENT OF THE TECHNOLOGY, IT IS THE APPLICATION OF THIS. AND I LIKE THE FACT THAT THE TEAM 8 MODEL WAS ALL ABOUT HEY, WE CREATE COMPANIES TO ACTUALLY HELP THIS TECHNOLOGY, THIS APPROACH THAT WE CREATE, WE THEN ACTUALLY BUILD THE STRUCTURE TO ACTUALLY IMPLEMENT IT AND EXECUTE IT. I LIKE THAT IDEA. >>SUE TO GET A LITTLE BIT OF FLAK FROM SOME OF YOUR FORMER NSA COLLEAGUES FOR JOINING OSTENSIBLY A FOREIGN FIRM, WHAT DO YOU SAY TO THE CRITICISM? >>NUMBER ONE, I WOULD ARGUE, FULLY COMPLIANT WITH THE LAW. ANYTHING YOU DO WITH IT, I HAD TO GET PERMISSION AHEAD OF TIME SO I WENT TO THE GOVERNMENT AND I SAID HEY, LOOK, THIS IS AN OPTION FOR ME, I WANT TO MAKE SURE THERE ARE NO ISSUES SO I GOT IT REVIEWED. SECONDLY, MY COMMENT WOULD BE, SO LET ME UNDERSTAND THIS, YOU HAVE A PROBLEM WITH ME WORKING WITH ONE OF OUR CLOSEST ALLIES IN THE WORLD? THAT IS NOT THE WORLD I LIVE IN, MY ATTITUDE IS IF WE CAN’T THINK MORE GLOBALLY AND IF WE CAN’T WORK WITH PARTNERS, WE CANNOT SOLVE PROBLEMS. IF YOU THINK THE ANSWER IS WELL, AMERICA AND CYBER SECURITY, THE UNITED STATES IS JUST GOING TO DO IT ALL BY ITSELF, THAT IS, THAT HAS NOT BEEN MY EXPERIENCE. I FIND THAT TO BE A VERY NARROW VIEWPOINT. >>FOR THOSE WHO DON’T KNOW, OBVIOUSLY THE RELATIONSHIP WITH THE U.S. AND ISRAEL IN TERMS OF COLLABORATION AND INTELLIGENCE SHARING IS VERY CLOSE. >>HOW DID YOU MEET? >>>>THE ADMIRAL IS A GOOD LOOKING GENTLEMAN [ LAUGHTER ] JUST LIKE MIKE SAID, WE KNEW EACH OTHER BY REPUTATION. SO MY SUCCESSOR WORKED CLOSELY WITH MIKE AND HAD JUST THE MOST WONDERFUL THINGS TO SAY ABOUT HIM. WHEN I HEARD THAT MIKE WAS RETIRING, I THOUGHT, YOU KNOW, IN TERMS OF REALLY THINKING BIG THOUGHTS, IN TERMS OF REALLY UNDERSTANDING THE FUNDAMENTAL FRAGILITY OF THE WORLD THAT WE LIVE IN, THIS IS A TEAM SPORT. AND WHAT TEAM 8 DOES IS IT BRINGS TOGETHER PERSPECTIVES. SO PERSPECTIVES COULD BE THE RETAIL PERSPECTIVE FROM WALMART AVIATION FROM AIRBUS, INSURANCE FROM THEM AT CENTER. BUT THAT’S NOT ENOUGH. YOU NEED INDUSTRY PERSPECTIVE AND PUBLIC PERSPECTIVE AND THE ATTACKERS PERSPECTIVE, THE GOVERNMENT PERSPECTIVE. YOU DON’T SOLVE BIG PROBLEMS, YOU FIRST OF ALL HAVE TO UNDERSTAND THE PROBLEMS. THIS REALLY NO ONE BETTER THAN MIKE TO BE SORT OF THE LIGHTHOUSE, TO UNDERSTAND NOT JUST HOW, WHY WE ARE FRAGILE TODAY, BUT WHY ARE WE GOING TO BE A LITTLE BIT MORE FRAGILE 2 YEARS FROM NOW. >>SAID TO ME LITTLE BIT MORE ABOUT THIS AND WHAT MIKE BRINGS TO THE TABLE. >>LET’S NOT TALK ABOUT MIKE. >>THERE’S MORE INTERESTING THINGS OUT THERE. >>BUT I’M INTERESTED. BUT THIS MIGHT BRING TO THE TABLE? WITH EXPERIENCE AND SO ON? >>IT IS, FIRST OF ALL, IT’S THE EXPERIENCE AND LEADERSHIP. IT IS THE, I WILL GIVE YOU AN EXAMPLE. WE WERE IN TEL AVIV A COUPLE OF MONTHS AGO TALKING TO CSO’S FROM ABOUT 100 OF THE LEADING ENTERPRISE AROUND THE WORLD, ABOUT 50% OF THE U.S., THE REST COMING FROM LATIN AMERICA AND EUROPE AND ASIA. AND WHAT MIKE TOLD THEM, TALK TO THEM ABOUT WAS WHAT DOES IT LOOK LIKE WHEN YOU ARE IN A REAL CRISIS? WHAT DOES IT TAKE? TO UNDERSTAND THE PROBLEM? TO OVERCOME IT AND EXPLAIN IT TO YOUR SENIORS? WHAT IS THE DECISION-MAKING PROCESS THAT COMES WITH THAT? THAT IS THE KIND OF EXPERIENCE THAT, IN THE PAST, LEADERS AND ENTERPRISE DID NOT HAVE. OR THEY DIDN’T HAVE TO GET EXPOSED TO. BUT IF YOU THINK ABOUT WHAT’S HAPPENING TODAY, SOME OF THE MOST IMPORTANT INFRASTRUCTURES THAT MAKE US A CIVILIZATION ARE NOT IN THE HANDS OF GOVERNMENT LIKE THEY WERE IN THE 20th CENTURY. THEY ARE IN THE HANDS OF PRIVATE INDUSTRY ALL THE WAY FROM THE DATA, THE UTILITIES, AND DATA DOESN’T UNDERSTAND GEOGRAPHY. SO THINKING ABOUT WHERE A COMPANY IS FOUNDED IS NOT THE QUESTION THAT YOU SHOULD ASK YOURSELF. THE QUESTION THAT YOU SHOULD ASK YOURSELF IS DO THEY UNDERSTAND THE CHALLENGE. DO THEY HAVE THE RIGHT SCRUPLES? DO THEY HAVE, DO THEY SHARE A COMMON ETHICAL INFRASTRUCTURE. IF THE ANSWER IS YES, PLEASE WORK WITH THEM. >>SO YOU HAVE SEVEN COMPANIES IN TEAM 8 RIGHT NOW? SO TELL ME A LITTLE BIT MORE ABOUT THESE COMPANIES THAT YOU HAVE, THE CHALLENGES THEY ARE TRYING TO SOLVE. >>SURE. I WILL TELL YOU ABOUT A COUPLE. SO LET’S START WITH THE PHYSICAL WORLD THAT SURROUNDS US. LET’S ALL FACE IT, IF THE LIGHTS GO OUT RIGHT NOW AND WE FIND OUT IN A COUPLE OF HOURS OR IN A COUPLE OF WEEKS THAT THAT HAS HAPPENED BECAUSE OF SOME KIND OF CYBER DISTORTION TO THE LOCAL UTILITY, NOBODY IN THIS ROOM IS GOING TO BE EXTREMELY SURPRISED. BECAUSE WHAT IS HAPPENING IS WE GET CONVERGENCE BETWEEN THE PHYSICAL WORLD AND VIRTUAL WORLD AND WE GET CONVERGENCE BETWEEN TWO DIFFERENT ENVIRONMENTS THAT HONESTLY WERE NEVER MEANT TO BE CONVERGED. AND IN THIS CASE, THE INTERNET AND LEGACY ENVIRONMENTS IN THE REAL PHYSICAL WORLDS AND UTILITIES. AND SO FOR EXAMPLE, THAT’S ONE THING THAT WE ARE VERY CONCERNED ABOUT IN ONE OF THE COMPANIES THAT WE STARTED WHICH IS CLARITY HAS THE ABILITY TO VISUALIZE INTO A VERY DETAILED MANNER EVERY BLACK BOX AND EVERY PHYSICAL INFRASTRUCTURE SO THAT NOW YOU CAN CONNECT IT TO THE REST OF THE WORLD, TO THE ILT, TO THE INTERNET, BUT YOU CAN DO IT SAFELY AND SECURELY, OPTIMIZE EVERYTHING. THESE ARE THE KINDS, THIS IS ONE THING THAT WE ARE VERY WORKING VERY CLOSELY, IN FACT, HELENA, ONE OF THE FOUNDERS IS IN THE CROWD AND THEY STARTED A TREMENDOUS COMPANY THAT IS NOW LITERALLY DEPLOYED AROUND EVERY CONTINENT IN THE WORLD. EVERY INDUSTRY IN THE WORLD, MAKING IT SAFER AND MORE SECURE. BUT ALSO ABLE, TO BE ABLE TO MODERNIZE IT AND CONNECTED TO THE REST OF THE WORLD. >>SO ONE OF THE THINGS THAT YOU HAVE YET, INDUSTRIAL CONTROL SYSTEMS, IOT AND PRIVACY. PRIVACY IS A BIG THING THESE DAYS, AND ENCRYPTION IS ON THE RISE, SO MOST UBIQUITOUS WITH MESSAGING APPS. WITH YOUR EXPERIENCE AT THE NSA, HOW DIFFICULT IS THE AN ESSAY JOB WITH THE RISE OF END- TO-END ENCRYPTION? >>IT CERTAINLY MAKES FROM A TECHNICAL PERSPECTIVE, IT CERTAINLY MAKES ACCESS POTENTIALLY MORE CHALLENGING. FOR US AS A FOREIGN INTELLIGENCE ORGANIZATION OPERATING WHEN WE ARE DOING OUR MISSION OUTSIDE THE UNITED STATES, THERE ARE THINGS THAT WE COULD DO OR YOU CAN THINK BEYOND THE ENCRYPTION, YOU CAN PICK A LITTLE BIT MORE BROADLY WHEN YOU ARE THINKING ABOUT PENETRATION AND HOW YOU ACCESS, SO THAT GIVES US SOME OPTIONS. I THOUGHT THE BIGGER CHALLENGE WAS, IT WASN’T FOR US IN OUR MISSION SO MUCH, BUT FOR OUR LAW ENFORCEMENT TEAMMATES WHEN I WAS IN THE GOVERNMENT. AFTER THE LOCAL SHERIFF, THE STATE TROOPER, IF YOU ARE THE FBI AND YOU DON’T HAVE THE TECHNICAL MEANS TO ACCESS DEVICES OR INFORMATION THAT MAY CONTAIN INSIGHTS, CRIMINAL ACTIVITY, EXPLOITATION OF YOUTH AND DRUGS IN KIDNAPPING AND APPLICATION OF VIOLENCE. HOW DO WE, AS A SOCIETY, AND THIS IS SOMETHING THAT ALL OF US SHOULD BE CONCERNED ABOUT, THIS SHOULD BE THE GOVERNMENT UNILATERALLY DECIDING. YOU DON’T WANT INTEL PERSON OR A LAW ENFORCEMENT PERSON DECIDING THIS. I WOULD ALSO ARGUE, NO DISRESPECT TO THE AUDIENCE, BUT I DON’T WANT THE TECH COMMUNITY DECIDING THIS UNILATERALLY. MY IDEA IS WE NEED TO HAVE A CONVERSATION AS A SOCIETY ABOUT WHAT ARE WE COMFORTABLE WITH WITH RESPECT TO PRIVACY AND SECURING THE RIGHTS OF THE INDIVIDUAL AND THE DATA ASSOCIATED WITH THEM? AS WELL AS THE BROADER, ALSO AN IMPERATIVE, HOW DO WE ENSURE THE SECURITY AND SAFETY OF OUR CITIZENS? >>RIGHT NOW, THIS SEEMS TO BE A DEADLOCK BETWEEN THE TECH COMPANIES IN SILICON VALLEY AND LAW ENFORCEMENT AND THE INTELLIGENCE AGENCIES IN THE U.S. GOVERNMENT ESPECIALLY WHEN IT COMES TO ENCRYPTION AND PRIVACY. THERE IS THIS DEADLOCK, IS THERE ANY WAY TO BREAK THAT DEADLOCK? WOULD IT REQUIRE LEGISLATION? >>MY IDEAS ALWAYS BE LEERY OF DIRECTING SOMETHING FROM THE GOVERNMENT, NOT THE GOVERNMENT DOESN’T HAVE IMPORTANT ROLES, BUT I THINK JUST HISTORICALLY, IN GENERAL, WE DON’T ALWAYS GET THAT RIGHT. WHEN I WAS IN GOVERNMENT, THE ARGUMENT I TRIED TO MAKE WAS CAN’T WE DO SOME VERY SIMPLE COORDINATION BETWEEN THE PRIVATE SECTOR AND THE GOVERNMENT AND TAKE A LOOK AT WHAT IS IN THE RANGE OF THE OPTIONS? BECAUSE I THOUGHT THERE WERE TWO QUESTIONS. NUMBER ONE IS WHAT CAN WE DO? WHAT IS IN THE REALM OF THE POSSIBLE? AND THE MORE IMPORTANT CONVERSATION WAS WELL, WHAT SHOULD WE DO? BECAUSE THOSE AREN’T ALWAYS SYNONYMOUS. AND ONE IS A VERY TECHNICAL KIND OF FOCUSED DISCUSSION AND THE OTHER IS MUCH MORE ABOUT ETHICS, MORALITY, LEGAL FRAMEWORK, WHAT ARE WE COMFORTABLE WITH? WHAT WILL REFLECT OUR CULTURE AND HERITAGE? OUR STRUCTURE AS A NATION AND THE THINGS WE VALUE? THOSE OF ALL GOT TO BE PART OF THIS. YOU CAN’T JUST BE WELL, IN THE NAME OF SECURITY, WE SHOULD BE ABLE TO ACCESS ANYTHING ANYWHERE AT ANY TIME UNILATERALLY. I DON’T BUY THAT. I WAS AN INTEL PROFESSIONAL FOR 37 YEARS, I DIDN’T BUY THAT. >>SO TEAM 8 IS DOING VERY WELL RIGHT NOW. YOU GOT A BIT OF THE SECURITY STARTUPS IN THE AUDIENCE. WHERE SHOULD THEY BE FOCUSING THEIR ENERGIES? WHAT ARE THE BIGGEST OPPORTUNITIES? >>SO I THINK WE ARE MOVING FROM PROTECTING THE EXISTING INFRASTRUCTURE TO TRYING TO THINK ABOUT WHAT IS THE WORLD GOING TO LOOK LIKE IN A FEW YEARS? AND SO IF YOU THINK ABOUT PRIVACY FOR EXAMPLE, I THINK THERE ARE THREE LAYERS THAT WE SHOULD THINK ABOUT IF WE ARE GOING TO MAKE GOOD THINGS HAPPEN. BECAUSE WE SPEAK ABOUT CYBER, WE ARE USUALLY FOCUSED ON THE REALLY TERRIBLE THINGS THAT MAY HAPPEN. WE DON’T PUT ENOUGH EMPHASIS ON THE REALLY GOOD THINGS THAT MAY NOT HAPPEN. BECAUSE REGULATION IS NOT MOVING FAST ENOUGH. BECAUSE CULTURALLY WE ARE NOT MOVING FAST ENOUGH, BECAUSE WE ARE FINDING OURSELVES IN REALLY BAD DILEMMAS AND CONUNDRUMS BETWEEN USING THE DATA AND INFERRING PRIVACY. SO ONE OF THE THINGS WE’RE WORKING ON RIGHT NOW ON THE TECHNOLOGY LEVEL IS INTRODUCING NEW CONCEPTS IN MATHEMATICS THAT WILL ENABLE US TO DO BOTH. THAT IS, TO ENCRYPT DATA, BUT STILL USE COMPUTATION UNENCRYPTED DATA. SO THERE IS A VERY SMART LADY THAT HER NAME IS JOFFE GOLDWATER AND SHE GOT THE PRICE FOR THIS, OR FOR THE MULTIPARTY COMPUTATION THAT LITERALLY ALLOWS YOU TO TAKE DATA, ENCRYPTED, AND RUN COMPUTATION UNENCRYPTED DATA. SO APROPOS, GOVERNMENT AND PRIVATE, FOR THE FIRST TIME IN THE UK, WE HAVE INTRODUCED THIS AS A PRACTICAL SOFTWARE WHICH ALLOWS LAW ENFORCEMENT TO SHORTEN THE TIMES IT TAKES TO DO INVESTIGATIONS FOR SERIOUS CRIME, ANTI-MONEY LAUNDERING, ETC. ENCRYPTING THE QUERY SO THERE’S NO PRIVACY ISSUES, QUERYING THE DATA LINKS OF BANKS AND OTHER FINANCIAL SERVICES WITHOUT ACTUALLY SEEING THE DATA, DRAMATICALLY SHORTENING THE TIME IT TAKES TO ACTUALLY FIND THESE PEOPLE WITHOUT ANY PRIVACY ISSUES. AND SO IT’S ALWAYS LAYERS, THERE IS A CULTURAL LAYER AS MIKE SAID, WHAT WE THINK ABOUT THIS AS A SOCIETY? THEN THERE IS THE REGULATOR LEVEL, AND I THINK THE REGULATOR HAS TO MOVE FROM BEING PRESCRIPTIVE TO BEING DESCRIPTIVE. BECAUSE BY THE TIME YOU PRESCRIBE SOMETHING AS A REGULATOR, IT IS ALWAYS BEST PRACTICES, THE PROBLEM WITH CYBER IS THAT IT’S MOVING SO FAST, THAT BY THE TIME SOMETHING BECOMES A BEST PRACTICE, IT IS OBSOLETE. SO YOU HAVE TO BE DESCRIPTIVE, NOT PRESCRIPTIVE. AND IN THE LAYER OF THE TECHNOLOGY, THAT IS WHERE WE WANT TO COME IN AND BRING FUNDAMENTAL CHANGES. SO MELODY DOING HOME A MORE THICK ENCRYPTION LED BY THE PROFESSOR AND OTHERS IS ONE EXAMPLE. BUT THERE ARE OTHERS. WE ARE ALSO DOING USING MULTIPARTY COMPETITION TO ACCESS BLOCK CHAIN WITHOUT USING A KEY AT ALL. THE COMPANY IS CALLED CURVES. THE IDEA IS HERE IS HOW WE PROTECT THE STUFF THAT’S ALREADY OUT THERE. HERE’S HOW WE ENABLE THE FUTURE WITH USING FUNDAMENTALLY CHANGED, FUNDAMENTALLY TRANSCENDING TECHNOLOGIES THAT ALLOW US NOT TO BE IN THIS DILEMMA ALL THE TIME. >>CAN I MAKE ONE COMMENT? >>ONE THING I WOULD SAY TO ANY STARTUP, PLEASE THINK ABOUT SECURITY AS A CORE ASPECT OF WHATEVER IT IS YOU ARE DEVELOPING OR PRODUCING. >>SO WHETHER OR NOT YOU ARE A SECURITY STARTUP. >>BECAUSE ONE OF THE THINGS THAT ALWAYS, LOOK, WE BOTH RAN ORGANIZATIONS THAT, IN DEFENDING THEIR RESPECTIVE NATIONS, PENETRATED NETWORKS FOR A LIVING. AND YOU CAN ALWAYS TELL SYSTEMS IN WHICH SECURITY IS A BOLT ON THAT WAS ADDED AFTER IT WAS WRITTEN, AND THERE ARE ALWAYS ACCESS, POTENTIAL ACCESS POINTS. ONE THING I TRIED TO SAY TO ORGANIZATIONS IS YOU CANNOT VIEW CYBER SECURITY AS AN AFTERTHOUGHT. YOU NEED, JUST AS YOU ARE ALWAYS ASKING YOURSELF, SO WHAT IS THE USER INTERFACE, WHICH THE USER EXPERIENCE GOING TO BE LIKE? I WOULD ARGUE YOU WOULD ALSO BE SAYING TO YOURSELF, EVEN AS I’M OPTIMIZING THAT USER EXPERIENCE, EVEN AS I’M FOCUSED ON ACHIEVING THE MOST EFFICIENT WAY OF EXECUTING WHATEVER IT IS I’M TRYING TO GENERATE. CAN’T YOU ALSO SAY TO YOURSELF, AND HOW DO I DO THAT WITHIN THE MOST REASONABLE AND RESPONSIBLE SECURITY FRAMEWORK THAT I CAN DEVELOP? BUT THAT PART OF THE EQUATION IS OFTEN MISSING EARLY IN THE CYCLE WHEN IT COMES TO DEVELOPMENT OF ORGANIZATIONS AND CAPABILITIES. >>YOU MENTIONED, OBVIOUSLY, THE NSA DOES A LOT OF OFFENSIVE SECURITY WORK, ESSENTIALLY HACKING INTO THE ENEMY, AND NOW YOU ARE WORKING WITH STARTUPS FOCUSED ON PRIVACY SECURITY AND DEFENSE OF MEASURES. HOW DO YOU RECONCILE THOSE TWO? >>YOU KIND OF GO FROM ONE CAREER TO ALMOST IT SEEMS LIKE THE POLAR OPPOSITE. >>WHEN I WAS THE DIRECTOR OF AN ESSAY AND DIRECTOR OF CYBER COMMAND, I WORK THE OFFENSIVE SIDE OF SO ALSO THE DEFENSE OF SIDE. SO I WAS RESPONSIBLE FOR THE DEFENSE OF ALL DOD NETWORKS AND DATA AND WEAPONS SYSTEMS AND PLATFORMS FROM A CYBER PERSPECTIVE AND ALSO TASKED WITH APPLYING DOD, DEPARTMENT OF DEFENSE CAPABILITY TO SUPPORT CRITICAL INFRASTRUCTURE IN THE PRIVATE SECTOR AGAINST CYBER ACTIVITY FROM NON-US ENTITIES. SO THERE IS ALWAYS, I’VE DONE EVERY BIT AS MUCH DEFENSE OF STUFF IF NOT MORE. NSA DEVELOPS ALL OF THE ENCRYPTION FROM THE MATHEMATICAL ALGORITHMS TO THE ACTUAL PRODUCTION AND DISTRIBUTION TO INCLUDE THE FOOTBALL FOR THE PRESIDENT, EVERY MISSILE SILO, EVERY B-52 WITH NUCLEAR WEAPONS, SO I WORKED IN PART OF THE TEAMS THAT WORK THE ENCRYPTION PIECE SO I WAS VERY FORTUNATE. MY PREVIOUS LIFE, I’VE BEEN ABLE TO LOOK AT THIS FROM A KIND OF TACTICAL DAY-TO-DAY EXECUTION HOW DO YOU DEFEND, HOW DO YOU PENETRATE? AND I’VE BEEN ABLE TO BE PART OF BROADER POLICY DISCUSSIONS ABOUT OKAY, SO HOW DO WE TRANSLATE THIS THE POLICY OUTCOMES? I WAS VERY FORTUNATE AND GOT TO SPEND A LOT OF TIME IN THE PRIVATE SECTOR BETWEEN UP IN NEW YORK AS WELL AS HERE IN THE VALLEY. SO HOW CAN WE PARTNER TOGETHER BETTER? SO I ALWAYS TRY TO REMIND PEOPLE, LOOK, I GOT AT THE OFFENSIVE PIECE AS THE SEXY STUFF. SECONDLY, ONE OF THE THINGS FOR ME THAT WAS A REDLINE WAS I WILL NOT PARTICIPATE IN ANY PRIVATE-SECTOR OFFENSIVE ACTIVITY. THAT, TO ME, SHOULD BE RETAINED UNDER THE CONTROL OF THE NATIONSTATE. >>HONESTLY, THERE IS A NATION HACKING BACK ALSO. >>NOW, THAT CHALLENGE, NOT CHALLENGE, BUT PART OF HACKING BACK IS HOW YOU DEFINE IT. I HAVE SEEN SOME PEOPLE DESCRIBE THIS FOR WHAT I WOULD CONSIDER PRETTY ASK LATORRE OFFENSIVE ACTS TO FAIRLY BENIGN, HEY I’M A LOOK, I’M JUST TRYING TO MAKE SURE I CAN FORESTALL WHAT THEY ARE DOING AND THERE IS A WIDE SPECTRUM. IN GENERAL, AND I CAN REMEMBER SAYING THIS IN THE WHITE HOUSE SITUATION ROOM WITH LEADERSHIP MANY TIMES, AS AN INDIVIDUAL WHO WAS PART OF TEAMS THAT WAS TASKED WITH SECURING AND DEFENDING, THE ANALOGY I USED TO USE WITH THEM WAS LOOK, I KNOW SOMETIMES YOU LOOK AT ME AS HEY, YOU’RE LEADING THE TEAMS THAT ARE HELPING AND I WAS THE ONLY ONE IN THE DOD WASN’T THE ONLY ORGANIZATION, BUT YOU’RE PART OF THIS BROADER GOVERNMENT EFFORT TO SECURE CYBER. WHAT ABOUT HACKED BACKS, AND MY COMMENT WOULD BE, LOOK, I ONLY FEEL ON MOST DAYS LIKE IT IS THE WILD WEST AND MYSELF AND THE TEAM I’M A PART OF, WE ARE THE SHERIFF ON THE STREET. THE LAST THING IN MY OPINION THAT YOU WANT IS MORE PEOPLE RUNNING AROUND THE STREET WITH GUNS. THIS ISN’T THE ANSWER. I WAS ALSO CONCERNED ABOUT, SO HOW COMFORTABLE ARE WE WITH PRECISION AND ATTRIBUTION? BECAUSE IF YOU DON’T GET THE ATTRIBUTION RIGHT, YOU GET MASSIVE SECOND AND THIRD ORDER EFFECTS FROM A LIABILITY PERSPECTIVE, I’M NOT A LAWYER, BUT ONE OF THE CONVERSATIONS I’VE HAD WITH GENERAL COUNCILS OF LARGE COMPANIES TO SMALL COMPANIES IS, SO, HAVE YOU GONE DOWN THE HACKED BACK ROAD AND YOU INCUR SECOND AND THIRD ORDER EFFECTS, WHAT IS THE LEGAL LIABILITY FOR YOU? AND MOST LAWYERS WILL LOOK AT YOU AND GO WELL, IT POTENTIAL IS PRETTY SIGNIFICANT. JUST IN GENERAL, TO ME, MY ATTITUDE IS I CERTAINLY WOULD NOT GO OFFENSIVE. >>SO WHILE I HAVE YOU TO ON STAGE, YOU BOTH HAVE SEEN ALL KINDS OF HACKS AND ACTIVITY OVER THE YEARS. WHAT DO YOU TO DO TO KEEP SAFE AND SECURE? >>YOU GO FIRST, AND I WILL GIVE YOU THE OPINION. >>IT’S, I THINK THERE IS A GENERATIONAL GAP. SO MY GENERATION, WE GREW UP WHERE EVERYTHING WAS PRIVATE. AND YOU DECIDE WHAT YOU WANT TO PUBLICIZE. WHAT DO YOU WANT TO PUBLISH? >>AND WE ARE ALMOST IN A SITUATION TODAY WHERE IT IS THE OPPOSITE. EVERYTHING IS PUBLIC, BUT YOU CAN STILL CHOOSE WHAT YOU WANT TO KEEP PRIVATE. AND I THINK THIS GENERATION, MILLENNIALS AND BEYOND, I THINK THERE’S GOING TO BE A BACKLASH BACK TO PRIVACY. AND I THINK THE WORLD IN WHICH WE TRADED OUR DATA AND PRIVACY FOR CONVENIENCE, THAT PARTY IS ABOUT TO COME TO AN END. I THINK THE MUSIC IS SUBSIDING. I DON’T THINK THAT’S GOING TO BE THE FUTURE. I THINK THE FUTURE, WE WILL SEE A BACKLASH BACK TO PRIVACY. I THINK PEOPLE VALUE THEIR PRIVACY AND I THINK IT IS A FUNDAMENTAL RIGHT THAT WE HAVE. AND IN THAT SENSE, I THINK THE KEY WORD IS TRUST. SO WE CAME FROM A WORLD WHERE WE KNEW EACH OTHER AND WE GREW UP TOGETHER AND WE HAD COFFEE AND WE TALKED, SO WE HAVE TRUST. AND THEN THE WORLD GOT CONNECTED. SO WE HAD, WE SAID HEY, WE TRUST, BUT WE NEED TO TRUST BUT VERIFY THAT THE WORLD BECAME HYPER CONNECTED, WAS IT ALL, NOW WE ARE GOING FOR ZERO TRUST. IN ZERO TRUST SOUNDS VERY APPEALING, BUT IT’S ALSO VERY COSTLY. >>AND SO I THINK WHERE WE SHOULD GO IS BEYOND TRUST, BEYOND TRUST MEANING THE STAKES HAVE TO BE AT A POSITION WHERE WE ARE ABLE TO COLLABORATE WITHOUT THE HIGH PRICE OF ZERO TRUST. THAT IS THE KIND OF THING WHERE TRYING TO DO WITH CURVE AND GOING FOR CREATING THE INFRASTRUCTURE THAT TAKES US BEYOND TRUST. >>ADMIRAL, WE ONLY HAVE A MINUTE LEFT ON THE CLOCK, YOU SPENT 5 YEARS AT NSA DOING A PRETTY MANY CHANGES. >>AN INTERESTING TIME? >>YOU OVERSAW THE NSA DURING THE AFTERMATH OF THE EDWARD SNOWDEN DISCLOSURES AND MULTIPLE LEAKS AND EXPOSURE OF THE PRIZED HACKING TOOLS BY THE BROKERS, WHAT WAS YOUR BIGGEST REGRET? >>I WILL BE HONEST, I HAVE VERY FEW IF ANY. I FEEL MORE PRIDE THAN ANYTHING ELSE. I GOT TO WORK WITH INCREDIBLY MOTIVATED MEN AND WOMEN DOING SOMETHING THAT MATTERED WITHIN A LEGAL FRAMEWORK THAT WE FULLY SUPPORTED, AND IN SO DOING, WE CREATED INCREASED SECURITY FOR THE CITIZENS AND OUR FRIENDS AND ALLIES. >>DO YOU THINK IS A GHOST >>I LOVED EVERY DAY OF THAT AND I WOULD DO IT ALL AGAIN IN A HEARTBEAT. >>YOU THINK AN ESSAY IS READY TO CONTINUE WITH ITS MISSION IN THE NEXT 5 YEARS OR 10 YEARS GIVEN THE ISSUES WE ARE ACING WITH PRIVATIZATION AND ENCRYPTION? >>THERE HAS ALWAYS BEEN A CHALLENGE. I CAN REMEMBER IN THE LATE 90s WHEN WE WERE GOING FROM RADIOFREQUENCY BASED COMMUNICATIONS TO THE WORLD OF THE NETWORK, AND I CAN REMEMBER AT THE TIME, I WAS THE EXECUTIVE ASSISTANT TO THE SENIOR SIGNALS INTELLIGENCE OFFICER IN THE NAVY AND HE WAS HAVING DISCUSSION WITH THE DIRECTOR OF NSA AND THE DIRECTOR WAS TELLING THEM, THINGS ARE TERRIBLE. WE ARE GOING TO LOSE ACCESS, WE WILL BE ABLE TO DO SOME OF THINGS WE USED TO ABLE TO DO AND MY ATTITUDE IS, LOOK, YOU LOOK AT HIS MOTIVATED MEN AND WOMEN AND THEIR FOCUS AND COMMITMENT, YOU LOOK AT THE LEVEL OF SUPPORT THAT THIS NATION, THE CITIZENS, THE MONEY. THE LEGAL FRAMEWORK THAT WE’VE CREATED TO TRY TO MAKE SURE WE STRIKE A BALANCE AND THAT WE ARE MINDFUL THAT WE ARE OPERATING AS INTELLIGENCE PROFESSIONALS IN A DEMOCRACY, THIS IS OF THE AUTHORITARIAN STATES IN MY COUNTERPARTS IN BEIJING OR MOSCOW WHERE LOOK AT WHAT THEY WOULD DO AND I WOULD GO, WE NOT ONLY COULDN’T DO THAT, I WOULD NEVER DO THAT. THAT WOULD NEVER WORK WITHIN THIS LEGAL FRAMEWORK AND THE FUNDAMENTAL IDEA OF THE RIGHTS OF THE INDIVIDUAL. WE COULDN’T OPERATE. I WOULDN’T OPERATE LIKE THAT. >>THE BOTTOM LINE IS, I ALWAYS TEND TO BE A POSITIVE INDIVIDUAL. MOTIVATED MEN AND WOMEN CAN TAKE HARD PROBLEMS AND THEY WILL DO WELL, AND THERE SUCH MOTIVATED MEN AND WOMEN ON THOSE TEAMS AT NSA AND CYBER COMMAND. I WAS VERY FORTUNATE TO BE A PART OF IT. I WAS VERY FORTUNATE TO GET TO WORK WITH TEAMMATES LIKE 8200 AND TEL AVIV AND OTHER PLACES AROUND THE WORLD TO TRY TO ADDRESS PROBLEMS THAT IF WE DIDN’T SOLVE THEM OR WE DIDN’T IMPROVE OUR ABILITY, WE ARE GOING TO SEE MEN AND WOMEN DIE. YOU NEVER FORGET THAT IN THE JOB. >>THAT’S ALL THE TIME WE HAVE. THANK YOU. [ APPLAUSE ] >>THANK YOU SO MUCH, GENTLEMEN. WE APPRECIATE IT. NO. I DON’T LIKE THAT. OKAY, ON THE Q&A STAGE, BLASTING INTO SPACE WITH TESS HATCH, THE INVESTOR AT BESSEMER VENTURES SARAH SPENT JELL-O, THE CEO OF SWARM TECHNOLOGIES AND ADRIAN STECKEL’S THAT’S THE CEO OF ONE WEB. IF YOU HAVE QUESTIONS ABOUT SPACE, HIT UP THE Q&A STAGE. THE NEXT GUEST IS THE CEO OF A COMPANY THAT TENDS TO FLY KIND OF UNDER THE RADAR, BUT THEY HAVE THEIR HANDS IN PAYMENTS AND THEN TECH, FOOD, CLASSIFIED TRAVEL, RETAIL MEDIA, YOU NAME IT, THEY’VE GOT IT. SO WITH THAT, I WOULD LIKE A WARM WELCOME FOR OUR NEXT GUEST, PLEASE WELCOME THE CEO OF PROCESS AND ASPERS, BOB VAN AND YOUR MODERATOR INGRID LONDON. [ APPLAUSE ] >>HELLO, EVERYBODY. HI BOB. >>HI. >>HOW ARE YOU DOING? >>VERY WELL, THANK YOU FOR HAVING ME. >>THANK YOU FOR COMING. NOW THAT WE ARE IN THE U.S., WE ARE NOT AN AMERICAN COMPANY, SO I THINK MAYBE WE SHOULD START OUT WITH YOU GIVING US THE ELEVATOR PITCH BECAUSE I’M NOT SURE HOW MANY PEOPLE KNOW WHO YOU GUYS ARE. >>ABSOLUTELY. SO WE ARE ACTUALLY BOTH INVESTOR IN IN MANY CONSUMER INTERNET BUSINESSES AROUND THE WORLD AND WE ARE ALSO AN OPERATOR, SO WE HAVE ABOUT 20,000 EMPLOYEES IN THE GROUP. WE INVEST IN CONSUMER MODELS THAT ARE HIGH-GROWTH AND TYPICALLY WOULD ADDRESS A VERY FUNDAMENTAL SOCIETAL NEED AND HAS A LOT OF RUNWAY FOR GROWTH AND WE DO THAT IN THE SEGMENTS WE JUST HEARD ABOUT. WE ARE PRETTY BIG IN FOOD DELIVERY, ONE OF THE BIGGEST INVESTORS IN FOOD DELIVERY AROUND THE GLOBE AND BETWEEN US AND THEN TECH IN ENABLING ONLINE PAYMENTS AND GROWTH MARKETS, INDIA IS PROBABLY THE MOST IMPORTANT MARKET, AND THEN WE ARE THE OWNERS OF THE LARGEST CLASSIFIEDS GROUP IN THE WORLD. >>AND YOU GUYS HAD A MAJOR EVENT IN THE LAST SEVERAL WEEKS? IT WAS PROCESS. DO YOU WANT TO TELL US ABOUT WHAT HAPPENED? >>ABSOLUTE. WE TOOK ALL OF OUR INTERNATIONAL CONSUMER INTERNET ASSETS AND WE LISTED THEM ON THE EURONEXT EXCHANGE IN EUROPE. >>BASIC THEM, BASICALLY HIGH THEM OFF THE SOUTH AFRICAN ONES. >>WE LISTED THEM SEPARATELY AND WE PLACED A GOOD CHUNK OF THAT SHARES WITH EXISTING SHAREHOLDERS, SO WE DIDN’T ISSUE NEW SHARES, SHARES. WE ISSUED THOSE TO THE SHAREHOLDERS. IT’S ABOUT A $120 BILLION MARKET COMPANY WHICH IS THE FIRST TIME THAT EUROPE HAS A CONSUMER INTERNET COMPANY OF THAT SIZE WHICH IS AN EXCITING EVENT. >>SO WHY DID YOU DECIDE TO DO THAT IN AMSTERDAM? >>THERE WERE A FEW REALLY GOOD REASONS. FIRST OF ALL, IT IS A VERY LARGE EXCHANGE. ABOUT $4 TRILLION IN OVERALL MARKET. SO WE KNEW WE COULD HAVE A LOT OF RUNWAY TO GROWTH AND WE THINK WE CAN DOUBLE THE VALUE OF THE COMPANY IN THE NEXT 3 YEARS AND WE REALLY NEEDED A PLACE WHERE WE COULD FIND THAT SPACE, AND THEY HAVE IT. A FEW OTHER THINGS THAT WORKED REALLY WELL, WE HAVE THE GLOBAL AI TEAM THAT SITS IN AMSTERDAM AND THE MOBILE ENGINEER AND MOBILE MARKETING TEAM SITS IN AMSTERDAM. WE HAVE A GREAT PRESENCE AND WE FOUND ALSO WE GET GREAT PEOPLE FROM SAN FRAN AND WE LIKE THE PLACE LOT. >>I THINK AMSTERDAM HAD A WONDERFUL EVOLUTION, YOU HAVE COMPANIES LIKE ADDIE IN THEIR. IT SAID MUCH MORE ATTENTION. >>IT’S BECOME MUCH MORE OF A TECH COMPANY IN EUROPE. IT’S AN EASY PLACE FOR PEOPLE TO SETTLE AND NOW THERE IS THIS SORT OF CRITICAL MASS OF GREAT TALENT, ENGINEERING TARRANT, TALENT. >>AN IMPORTANT THING ABOUT PROCESS WHICH HE DID MENTION AT ALL IS THE FACT THAT IT’S GOT YOUR HOLDINGS AT $.10, WHICH IS THE PARENT OF WE CHAT AND A BUNCH OF DIFFERENT THINGS. YOU GUYS ARE HOLDING ONTO ALL OF THAT. YOU SAID IT IS NOT RAISING MONEY, BUT ARE YOU PLANNING TO IN THE FUTURE RAISE MONEY THROUGH PROCESS IN ANY WAY? >>SO WE WILL SEE HOW WE GO. I THINK ONE OF THE THINGS THAT WAS REALLY IMPORTANT FOR US WAS TO ATTRACT A NEW SET OF INVESTORS TO THE GROUP. SO TRADITIONALLY, EVEN THOUGH WE ARE 100% CONSUMER INTERNET IF YOU LOOK AT THE REVENUE BASE. WE HAD A LOT OF EMERGING-MARKET FOCUSED INVESTORS IN THE COMPANY WHICH WE ARE VERY EXCITED ABOUT, BUT TO BE A BIT LET, LESSER PRESENTED ON THE TECH SIDE AND IT WAS VERY IMPORTANT FOR US TO DO. AND SINCE IT IS SUCH A RARE LISTING OF THAT SIZE IN CONSUMER TECH IN EUROPE, WE ARE GETTING A LOT OF ATTENTION. >>SO IT IS A MASSIVE BUSINESS. THEY ARE GIVING YOU A MICROPHONE. YOU ARE TOO QUIET? MAYBE. >>THERE WE GO. >>SO YES. IT IS A MASSIVE BUSINESS AND IT’S GOT 10 SENT AND OTHER THINGS INSIDE IT. BASED OUT OF AMSTERDAM. HOW MUCH OF AN ISSUE IS IT THAT YOU DON’T REALLY HAVE ANY PROFILE IN THE U.S.? IS THAT A BIG DEAL FOR THE COMPANY? DO YOU WANT THAT THE CHANGE? BECAUSE A LOT OF BUSINESSES ARE ACTUALLY NOT IN THE U.S., THEY ARE IN EMERGING MARKETS AND ASIA AND SO ON. >>SO HISTORICALLY, IF YOU LOOK AT WHAT THE COMPANY HAS BEEN DOING, WE ARE VERY MUCH A GROWTH COMPANY. CURRENTLY, THE ORGANIC GROWTH IS AROUND THE 30% MARK IN SOME OF THE SEGMENTS IN FOOD HAS GROWN MORE THAN 50%. AND GROWTH OFTEN HAS LED US TO GO TO GROWTH MARKETS. >>BUT WE ARE NOT A GROWTH MARKETS PER SE COMPANY. SO WE HAVE INVESTED IN THE U.S. QUITE A BIT IN A COMPANY CALLED LET GO. THAT IS ENABLING PEOPLE TO USE THEIR MOBILE PHONES TO BUY AND SELL >>IT IS LIKE AN eBAY DISRUPTOR. >>IT IS ACTUALLY A NEW WAY, SIMPLER WAY FOR PEOPLE TO SELL THINGS THEY DON’T NEED ANY MORE. BASICALLY THE GUY THAT FOUND IT , ALEC OXENFORD, HE’S A GREAT GUY. IT IS HIS MISSION IN LIFE TO MAKE SELLING SOMETHING AS EASY AS THROWING IT AWAY. SO WE INVESTED AROUND HALF $1 BILLION IN THE U.S. AND WE HAVE A VENTURES PRESENCE IN SAN FRANCISCO. IT’S JUST A FEW STREETS DOWN THE ROAD THAT LOOKS AT NEWER EARLIER STAGE COMPANIES, PARTICULARLY WITH THE GLOBAL POTENTIAL. WE LOOK AT WHAT WE REALLY BRING, WE OPERATE IN 90 COUNTRIES AND I’VE SPENT 200 DAYS A YEAR ON THE ROAD SEEING THE BUSINESS IN THAT COUNTRY. I THINK WHEN YOU ARE A YOUNG COMPANY OUT HERE THAT HAS GLOBAL POTENTIAL, I THINK WE ARE THE RIGHT KIND OF PARTNER. >>DOES THAT MEAN YOU THINK YOU MIGHT TRY TO INCREASE YOUR PRESENCE IN THE U.S. OVER TIME? OR MORE INVESTING? >>WE FOUND SOME AMAZING EARLY- STAGE COMPANIES THAT WE INVESTED. HONOR OUT OF THE U.S. THAT IS BASICALLY DIGITIZING HOW PEOPLE DEAL WITH ELDERLY PEOPLE, THEY NEED CARE, AND IT’S IN A STEP CHANGE WAY. SO I THINK WE’VE SEEN EXCEPTIONAL COMPANIES COME OUT OF HERE, AND WE LOVE IT WHEN THEY HAVE A BUSINESS MODEL THAT ADDRESSES SOMETHING THAT WOULD REALLY APPLY TO THE WORLD. >>YOU SAY YOU GOT A LOT OF INVESTMENTS IN FOOD. YOU GOT TONS THAT YOU ARE DOING AND MAYBE IF WE COULD PUT THAT ALL INTO THE BIGGER BASKET OF COMMERCE, WHY DID YOU GUYS THIS, WHY DID YOU GUYS DECIDE TO FOCUS ON THAT AREA? IF I COULD EXTRAPOLATE FROM ALL OF THAT, I WOULD SAY IT’S AROUND THE GENERAL COMMERCE, WHY? >>WE THINK COMMERCE IS PROBABLY, IN TERMS OF ADDRESSABLE MARKET, ONE OF THE LARGEST OPPORTUNITIES OUT THERE. AND I THINK THERE IS ANOTHER KEY TERM IN THERE FOR US, WE LOOK FOR BIG CONSUMER NEEDS IS ONE OF THE THINGS, SO COMMERCE IS A LOGICAL ONE, AND FOOD IS PART OF COMMERCE. AND ALSO, WE HAVE HAD I THINK MOST OF OUR EXPERIENCE ON THE CONSUMER SIDE. AS A COMPANY, WE BEEN AROUND FOR A LONG TIME AND WE ALWAYS BUILD CONSUMER BUSINESSES THAT ARE DRIVEN BY TECHNOLOGY. THIS IS WHERE THE CORE EXPERTISE IS, AND I THINK ALSO WHERE A VERY LARGE PART OF THE OPPORTUNITY LIES. >>IN THAT AREA, ONE THING THAT YOU’VE DONE A LITTLE BIT IN AND YOU’VE DABBLED IN IT, BUT YOU HAVEN’T DONE SO MUCH, BUT I WOULD BE CURIOUS TO HEAR WHAT YOUR OPINION IS. WHERE ARE YOU ON CRYPTO CURRENCIES AND BITCOIN AND ALL OF THE REST? >>WE HAVE DONE THREE INVESTMENTS IN CRYPTO SO FAR. WE ARE IN. >>BUT ON THE SMALLER SIDE? >>THEY ARE ALL RELATIVELY SMALL. I THINK WE ARE TREMENDOUSLY EXCITED ABOUT WHAT CRYPTO CAN DO FOR THE WORLD. AND I THINK THE, I WOULD HOPE THAT WE ARE SEEING SORT OF STEP ONE OF 1000 STEPS GOING FORWARD. I HOPE WE ARE AT 1% OR LESS INTO WHAT IT CAN BE. AND I DO THINK THERE IS, IN TERMS OF ACTUAL PRACTICAL APPLICATIONS, THAT TAKE PEOPLE, THAT TAKE A FUNDAMENTAL NEED AN IMPROVEMENT, I THINK THERE’S A WAY TO GO. I THINK THE POTENTIAL IS HIGH, BUT IT’S STILL VERY EARLY DAYS. >>YOU THINK THERE’S A LOT OF SPECULATION AND CONNING GOING ON IN CRYPTO AT THIS POINT? >>I THINK IT IS A MIX. I THINK IN TERMS OF ICO, THERE’S BEEN A TREMENDOUS AMOUNT OF MISCHIEF. AND I THINK WE’VE STAYED RELATIVELY FAR AWAY AND THERE ARE IDEAS THAT ARE LOOKING FOR BACKING. SO WE NEED TO BE CAREFUL. >>WHAT DO YOU THINK OF THINGS LIKE FACEBOOK’S LIBRA PROJECT? >>WE ARE ONE OF THE PEOPLE SUPPORTING LIBRA. >>SO ONE OF THE REASONS THAT WE GET EXCITED ABOUT IT, WE DO A LOT OF WORK IN GROWTH MARKETS. WE ARE ACTUALLY, FOR PEOPLE TO TRANSFER VALUE AND IT GOES WITH INCREDIBLY HIGH TRANSACTION COST AND THERE’S TYPICALLY A LOT OF FRICTION AND UNCERTAINTY. I THINK IF YOU LOOK WHAT LIBRA COULD BE, THAT WILL BE A TREMENDOUS ASSET FOR PEOPLE PARTICULARLY IN THOSE MARKETS THAT DON’T HAVE THE BENEFIT OF A STABLE CURRENCY AND LOW TRANSACTION FEES. SO WE THINK IT WILL DO A LOT OF GOOD FOR THE WORLD. WE ALSO THINK THAT IT WILL BE SUCCESSFUL IF MANY PEOPLE SUPPORT IT. AND THAT IS WHY WE WERE ATTRACTED TO SUPPORT LIBRA. AND WE HAVE GOOD HOPES FOR IT. I KNOW THAT THERE ARE A TON OF DISCUSSIONS AROUND THE REGULATORY ASPECT OF IT. >>IT HAS BEEN REALLY ROCKY SO FAR. I THINK THEY DID LAUNCH WITH A LOT OF NAMES ATTACHED TO IT, BUT YOU KEEP HEARING ABOUT PEOPLE THREATENING TO PULL OUT. I THINK THE LATEST I READ A RUMOR THAT PAYPAL IS APPARENTLY LOOKING TO NOT BE INVOLVED ANYMORE. IS THERE SOMETHING THAT COULD LEAD YOU TO MAKING THAT KIND OF A CHOICE? OR ARE YOU COMMITTED? >>THE REASONS WHY WE STARTED SUPPORTING IT, THEY STILL HOLD. SO I THINK THERE’S NUMBER OF ISSUES THAT NEED TO BE WORKED THROUGH, BUT I THINK WHAT IT CAN REALLY BRING, HUGE BENEFIT TO PEOPLE, PARTICULARLY IN THE MARKETS WE KNOW AND CARE ABOUT. AND I THINK WE SEE THAT IF WE HAVE THE RIGHT LAYERS BEHIND IT, THAT COULD BE A GREAT THING TO BUILD. >>FAIR ENOUGH. >>I WILL SWITCH TO ONE OF THE OTHER THINGS THAT YOU ARE DOING. NOT THIN TECH AS SUCH, BUT IN COMMERCE WHICH IS ALL OF THE FOOD DELIVERY AND EVERYTHING. YOU ARE A BIG PLAYER IN CERTAIN PARTS OF THE WORLD. WE WILL HAVE POST MATES ON LATER TODAY. AND I THINK IT IS A REALLY INTERESTING AREA. BUT IT IS MAKING A LOT OF LOSSES RIGHT NOW. IT IS A TOUGH ONE TO DO AS A BUSINESS, LONGER-TERM. HOW DO YOU THINK IT WILL SWITCH OVER INTO BEING A PROFITABLE, PROFITABLE INDUSTRY? IT’S DEFINITELY POPULAR. IT DEFINITELY IS GROWING, BUT IT’S DEFINITELY LOSING MONEY. SO WHAT DO YOU THINK? >>IF YOU LOOK AT, WE DEPLOYED ABOUT $5 BILLION IN THE ONLINE FOOD DELIVERY, SO WE HOPE IT WILL WORK OUT. WE THINK IT WILL WORK OUT. ONE OF THE THINGS WE SPENT A LOT OF TIME ON WHEN WE GO INVEST AS WE SAY IS A FUNDAMENTAL CONSUMER NEED AND I THINK PEOPLE SPEND A LOT OF TIME AND MONEY ON FOOD. AND TECHNOLOGY HAS ACTUALLY PLAYED A RELATIVELY SMALL ROLE. I SAY IN THE WHOLE FOOD DELIVERY AND FOOD PREPARATION SPACE. SO WE KNOW THAT TECHNOLOGY CAN DO A LOT OVERTIME. AND WE DON’T SPEND A LOT OF TIME, DO WE UNDERSTAND THE FUNDAMENTALS OF THE BUSINESS MODEL ARE THEY HEALTHY? AND I THINK IT FOOD DELIVERY, THEY ARE. SO WE STARTED INVESTING IN FOOD DELIVERY ALMOST A DECADE AGO IN BRAZIL, AND WE INVEST IN A COMPANY CALLED I FOOD WHICH I THINK WAS PROFITABLE YOUR GO. THE ECONOMICS ARE GREAT, BUT WE THOUGHT THE BUSINESS OPPORTUNITY IS MUCH BIGGER THAN WE THOUGHT BUT FROM HERE, IT’S PROBABLY A 20 X AT THE TOP AND OTHER PEOPLE ARE SPENDING AGAINST THAT AS WELL. SO I THINK YOU WILL SEE LOSSES AND CASH CONSUMPTION, BECAUSE THE OVERALL ENDPOINT IS SO EXCITING. SO WE ARE QUITE COMFORTABLE WE WILL GET THERE. >>BUT GENERALLY SPEAKING, AS AN INVESTOR, YOU GUYS ARE AN OPERATOR, BUT ARE ALSO VERY MUCH AN INVESTOR. SO YOU TAKE STAKES IN THESE COMPANIES. BUT A LOT OF THEM ARE STILL, IN THIS WIDER AREA OF DELIVERY AND SO ON. THEY ARE STILL IN THE BLACK OR IN THE RED. HOW MUCH AN ISSUE IS THAT FOR YOU AS AN INVESTOR? AND HOW WILLING ARE YOU TO STAY WITH THE COMPANY’S WHILE THEY ARE LOSSMAKING LONGER-TERM? WILL YOU STAY UNTIL THEY ARE PROFITABLE? OR JUST UNTIL YOU CAN SELL TO SOMEONE HIGHER. >>IN MANY CASES, ONE OF THE THINGS THAT IS TYPICAL FOR US, WE ARE A LONG-TERM INVESTOR, WE ARE NOT A FUN, WE HAVE NO EXIT HORIZON. IF WE LIKE INVESTMENT, WE CAN STICK WITH IT FOR 20 YEARS AS WE HAVE DONE WITH $.10 FOR EXAMPLE. WE HAVE A LONG-TERM HORIZON. THAT’S IMPORTANT FOR US. WE NEED TO HAVE A LOT OF CONFIDENCE THAT THE BUSINESS MODEL WORKS AND THEN WE DON’T MIND AS LONG AS WE SEE PROGRESS. THE CLASSIFIEDS BUSINESS, WE START INVESTING ABOUT EIGHT OR 9 YEARS AGO AND THE MAIN OPERATING LOSSES WERE FOR 7 YEARS AND IT TURNED PROFITABLE LAST YEAR. HE SAYS IT’S A GREAT BUSINESS. WE TOLD YOU IT WAS A GREAT BUSINESS. >>RIGHT. BUT HOW ABOUT, YOU MENTIONED $.10, WHICH IS, I’M GLAD YOU DID. YOU GUYS ARE THE BIGGEST SHAREHOLDER NOW, IS THAT RIGHT? >>THAT’S A, WE HAVE 31% OF TENTS AND CHAIRS. >>THAT IS AN AMAZING THING TO HAVE. OF COURSE, YOU GUYS AMASSED THAT WHEN IT WAS A MUCH SMALLER BUSINESS THAN IT IS NOW. BUT IT TURNED OUT TO BE A HUGE HIT FOR YOU GUYS. BUT YOU DON’T REALLY HAVE MUCH OF AND INVOLVEMENT WITH THE COMPANY OPERATIONALLY, DO YOU? >>WE HAVE TWO BOARD SEATS AT CONSENT, AND WE ARE WELL CONNECTED AND WE’VE BEEN INVESTING FOR 20 YEARS. AND I MUST SAY, IF YOU LOOK AT THE OPPORTUNITY THAT THE CHINESE INTERNET HAS BECAUSE OF THE SHEER SIZE OF IT, ALMOST 1 BILLION INTERNET USERS, THE DIGITIZATION OF THE CHINESE ECONOMY I THINK IS AT A LEVEL WHERE THE REST OF THE WORLD NEEDS TO CATCH UP ON AND IS NOT EVEN CLOSE TO, AND I THINK THE LEVEL OF INNOVATION WE SEE AS WELL, IT’S JUST A FANTASTIC OPPORTUNITY AND WITHIN THAT SPACE, I THINK $.10 HAS THE MOST AMAZING LEADERSHIP TEAM. A VERY HUMBLE OPERATIVE AND HUNGRY FANTASTIC TEAM. >>DO YOU HAVE MUCH OF A SAY WHEN THEY COME UP IN CONTROVERSIAL WAYS? FOR EXAMPLE, THERE ARE QUESTIONS OVER CENSORSHIP IN CHINA. AND WHAT ROLE TENTS AND OF COURSE OWNS WE CHAT AMONGST OTHER THINGS. YOU HAVE ANY INVOLVEMENT ON THAT FRONT WHEN THEY HAVE TO FACE THOSE SORTS OF QUESTIONS BOTH IN THE INTERNATIONAL ARENA AND IN CHINA, ITSELF? >>I THINK THE BROADER QUESTION IS, AND IT’S REALLY IMPORTANT AROUND HOW WE OPERATE. SO WE ARE A COMPANY THAT EMPOWERS LOCAL ENTREPRENEURS TO RUN THEIR BUSINESS. WE DO THAT IN CHINA, AND ACTIVE ENGAGED SHAREHOLDER. BUT AT THE COMPANIES THAT WE ARE OPERATED BY LOCALS. SO IF YOU TAKE INDIA, FOR EXAMPLE, THE FOOD DELIVERY BUSINESS, THAT YOU MENTIONED EARLIER, WE’VE INVESTED BEHIND A TREMENDOUS ENTREPRENEUR CALLED HARSHA. HE RUNS THE BUSINESS AND HE DEALS WITH THE SPECIFIC LOCAL ISSUES THAT NEED TO BE DEALT WITH. AND WE OPERATE IN 90 COUNTRIES AND WE REALLY HAVE TO DO IT THAT WAY. >>SEE DON’T TRY TO GET TOO INVOLVED IN THE? >>WE GET INVOLVED IN STRATEGY BUT NOT IN THE LOCAL COMPONENTS OF THE BUSINESS. >>WITH $.10, I KNOW THAT YOU HAVE A FAIRLY LARGE STAKE IN THE COMPANY. DO YOU HAVE PLANS ON CHANGING THAT IN ANY WAY, EITHER GOING OR TRYING TO GROW ANYMORE OR TO REDUCE IT AND USE SOME OF THE PROCEEDS FOR SOMETHING ELSE? WHAT’S THE LONG-TERM STRATEGY WITH IT? >>WE ARE REALLY EXCITED ABOUT THE FURTHER WORLD POTENTIAL OF TENTS AND. AS I MENTIONED BEFORE, THE OVERALL MARKET I THINK IS THE MOST ATTRACTIVE INTERNET MARKET IN THE WORLD AND WITHIN THAT, I THINK TENTS AND HAS A TREMENDOUS POSITION IN TERMS OF WE CHAT AND ALSO IF YOU LOOK AT THE VIDEO BUSINESS, IF YOU LOOK AT THE PAYMENTS BUSINESS, THAT HAS A TREMENDOUS FURTHER RUNWAY FROM HERE AND WE ARE REALLY EXCITED TO BE ABLE TO BE THERE. SO WE WANT TO SEE THAT FURTHER GROWTH HAPPEN AND WE ARE VERY PROUD TO BE PART OF IT. >>SO WHAT I TAKE THAT TO MEAN, WOULD WE UNDERSTAND THAT AS YOU WANT TO STAY WHERE YOU ARE? YOU DON’T WANT TO GROW IT OR REDUCE IT IN ANY WAY? >>THAT SHE SAID WE WOULD REDUCE IT IN THE NEAR FUTURE, AND GIVEN THE FUTURE OPPORTUNITY, WE LOVE IT. >>YOU THINK YOU HAVE AN OPPORTUNITY TO INCREASE YOUR STAKE IN IT AS WELL? >>THAT’S A GOOD QUESTION. I THINK IF I LOOK AT WHAT WE TRY TO DO, WE ARE A GROWTH COMPANY, WE WANT TO INVEST IN CONSUMER INTERNET IN THE PLACES IN THE WORLD WHERE THERE IS MOST TO BE GAINED IN OUR VIEW, I MIGHT BE WRONG, BUT I THINK CHINA HAS BEEN A FOCUS FOR US FOR MANY YEARS AND I THINK IF YOU LOOK AT WHERE WE SPEND A LOT OF OUR MONEY IN THE LAST FEW YEARS, WE’VE BEEN VERY ACTIVE IN INDIA, FOR EXAMPLE AND WE SPENT PROBABLY MOST OF OUR FREE CAPITAL IN INDIA BECAUSE IT’S BEEN SUCH A TREMENDOUS LEAP FROM ONLY 10 OR 15 MILLION INTERNET USERS 8 YEARS AGO TO ALMOST 500 MILLION NOW. AND WE ARE LOOKING AT, WE ARE LOOKING FOR THOSE BREAKOUT OPPORTUNITIES. SO THAT IS WHERE WE WILL PROBABLY SPEND MOST OF THE CAPITAL GOING FORWARD. >>OKAY, DO YOU THINK THAT YOU MAY EVER FIND AN OPPORTUNITY LIKE 10 SENT AGAIN? YOU MUST WAKE UP EVERY DAY AND ASK THAT, WHAT IS THE NEXT 10 SENT. >>OR DO YOU THINK WE ARE PAST THAT PERIOD? WE’RE NOT GOING TO FIND THAT KIND OF HIGH GROWTH COMPANY ANYMORE IN THE TECH WORLD? >>WE LOOK AT HOW 10 SENT STACKS UP WITH OTHER INVESTMENTS THAT OTHERS HAVE DONE, NOT SO MUCH OURSELVES, BUT WE BELIEVE IT IS PROBABLY THE BEST INTERNET INVESTMENT ANYONE IS DONE. ANYONE IS LOOKING FOR THE NEXT 10 SENT. >>IT’S A VERY ASPERS LIKE COMEDY. >>IF YOU LOOK AT SOME OF THE COMPANIES, TO TREMENDOUS GROWTH OPPORTUNITY. IF IT’S AS GOOD AS 10 SENT, WHO KNOWS. ON THE CURRENT e-COMMERCE PORTFOLIO, WE DELIVERED AN ANNUAL RETURN OF 10% WHICH IS WELL ABOVE MARKET. IF WE KEEP DOING THAT, I THINK WE SHOULD BE PRETTY HAPPY. >>I’VE JUST A COUPLE MINUTES, I WANT TO MENTION, I MENTIONED SOFTBANK FOR A REASON. YOU GUYS HAVE BEEN COMPARED TO THEM BEFORE. YOU ARE SOMEWHAT SIMILAR. YOU ARE OUT OF, OUTSIDE OF THE PLACES THAT YOU ARE INVESTING, YOU HAVE A LARGE SUM OF MONEY AND YOU HAVE AN ENGINE BEHIND YOU WHICH IS THESE FANTASTIC INVESTMENTS OUT OF CHINA. HOW DO YOU SEE THEIR INVESTMENT STRATEGY? THEY’VE DONE REALLY INTERESTING THINGS WITH THE VISION FUND AND SOME WOULD SAY CONTROVERSIAL. IN THE CURRENT MOMENT. WHAT DO YOU SEE? CAN YOU SEE YOURSELVES EVER TRYING TO DO SOMETHING LIKE THAT IN TERMS OF FORMING A FUND AND HELP WITH REALLY BIG INVESTMENTS INTO THINGS, USING YOUR ACUMEN AND SO ON? >>I HAVE MET MARS A AND MANY OF HIS TEAM ON SEVERAL OCCASIONS DURING THE YEARS AND I THINK THEY ARE AN IMPRESSIVE GROUP OF PEOPLE. AND I THINK WHAT THEY’VE DONE IS CERTAINLY UNPRECEDENTED. AND I THINK IT IS HAD A BIG IMPACT ON THE INDUSTRY. AS WE MENTIONED EARLIER, WE ARE NOT A FUND AND WE CAN INVEST FOR 20 YEARS AND I THINK THAT ACTUALLY HELPS. IT ALLOWS YOU TO THINK OVER A LONG AMOUNT OF TIME, WHAT WILL BE THE THINGS THAT GREAT VALUE? AND I THINK FOOD DELIVERY COULD TAKE A LOT OF TIME TO GET TO ITS FULL POTENTIAL. I THINK IT IS 20 X FROM HERE. I THINK THEY ARE GREAT INVESTORS, THEY ARE VERY BROAD IN THEIR APPROACH AND WE ARE TYPICALLY MORE FOCUSED, WE INVEST IN THE AREAS WE REALLY KNOW, AND THAT ALSO I THINK IS FOR US THE RIGHT THING TO DO. >>YOU THINK YOU MIGHT EVER TRY TO TAKE A PAGE OUT OF SOFTBANK’S BOOK AND TRY TO DO THE APPROACH THAT THEY’VE DONE? OR DO YOU THINK THAT’S BEEN A BAD APPROACH? >>I DON’T THINK IT FITS US. ONE OF THE THINGS THAT SERVICE REALLY WELL IS TO BUILD UP EXPERTISE, BUT THE FINE THINGS WE THINK ARE INTERESTING AND BUILD UP EXPERTISE AND GO BIGGER, BUT STAY IN AN AREA THAT YOU REALLY HAVE A GOOD VIEW ON AND I COULDN’T DEPLOY HUNDRED BILLION DOLLARS IN THE THINGS I DON’T UNDERSTAND. >>NO PLANS FOR FUNDS OF THOSE KINDS? >>DO YOU THINK THEY’VE DONE THE RIGHT THING BY DOING IT THE WAY THEY’VE DONE IT? OR WILL IT COME TO BITE THEM WITH WE WORK? >>IT IS HARD TO SPEAK ABOUT THE SPECIFIC INVESTMENT. WE HAVE CO-INVESTED IN FLIP CARD. AND I THINK WE HAD THE SAME VERSION OF AN ATTRACTIVE INDIAN MARKET WITH HIGH GROWTH AND GREAT FOUNDERS AND THAT IS, I THINK THAT’S WHERE WE OVERLAP. WE ARE VERY MUCH THE SAME VIEW AND THEY HAVE TAKEN A BROADER APPROACH AND A BIGGER A VOLUME APPROACH AND I HOPE IT WORKS OUT. >>WE ARE OUT OF TIME, THANK YOU SO MUCH, I APPRECIATE IT. THANK YOU EVERYBODY. THANK YOU. [ APPLAUSE ] >>WELL DONE. ON THE EXTRA CRUNCH STATE, WE HAVE HOW TO BE A POSITIVE FORCE IN THE GIG ECONOMY, THAT SHOULD BE SELF INSPIRATORY, WE HAVE AMANDA ON THAT, THE FOUNDER AND CEO OF GIRL GAZING AND THE EXECUTIVE DIRECTOR OF WORKING PARTNERSHIPS USA. IF YOU WANT TO CHECK THAT OUT, NOW IS THE TIME. HERE ON THE MAIN STAGE, PLEASE WELCOME ASSISTANT DIRECTOR FOR CYBER SECURITY AT THE DEPARTMENT OF HOMELAND SECURITY JEANETTE MAN FRONT AND YOUR MODERATOR, ZACH WHITAKER, A WARM WELCOME. [ APPLAUSE ] >>HELLO AGAIN, IT’S BEEN A WHILE. IT’S BEEN 20 MINUTES. A WARM WELCOME TO YOU. AND YOU ARE THE MOST SENIOR CYBER SECURITY OFFICIAL WE HAVE AT DISRUPT THIS YEAR. WE ARE THRILLED ABOUT OUR AGENCY, BUT WE ARE SPECIFICALLY DESIGNED TO WORK WITH THE PRIVATE SECTOR. >>WHAT KIND OF THREATS HAVE YOU SEEN OVER THE LAST YEAR? HOW HAS THAT CHANGED? >>IT AN DEPENDS ON WHAT YOU’RE TALKING ABOUT. A LOT OF — AT A HIGH LEVEL, WE FOCUS ON IS ON ONE HAND, WE’RE VERY INVOLVED IN PROTECTING FEDERAL NETWORKS. SO EVERYTHING FROM, YOU KNOW, IF YOU THINK ABOUT THE DATA BASE THAT HOUSES EVERYBODY’S SOCIAL SECURITY NUMBERS TO OUR IMMIGRATION SYSTEMS TO YOUR, YOU KNOW, SCHOOL FINANCIAL AID FORMS. THERE’S A LOT OF INFORMATION THAT THE GOVERNMENT HOLDS. WE DO A LOT OF WORK WITH THAT. ALL THE WAY TO CRITICAL INFRASTRUCTURE. SO, YOU KNOW, TRYING TO PREVENT NATION STATES FROM GETTING INTO OUR ELECTION SYSTEMS, OUR ELECTRICITY, OUR FINANCIAL SYSTEMS, AND SO IT’S A BROAD SORT OF SWATH THAT WE COVER. THE BIGGEST THING I AM REALLY PROUD OF WE ACCOMPLISHED OVER THE LAST YEAR IS WE RELEASED SOMETHING CALLED THE NATIONAL CRITICAL FUNCTIONS. AND THIS IS REALLY IMPORTANT, BECAUSE IN CYBER SECURITY, ESPECIALLY IN D.C., WHICH IS, YOU KNOW, SORT OF A UNIQUE PLACE, HAS UNIQUE CONVERSATIONS ABOUT TECHNOLOGY AND CYBER SECURITY, AND IT CAN GET VERY — IT CAN GET VERY BROAD — AND OVER THE YEARS, WHAT WE REALLY STARTED TO REALIZE IS WE NEEDED TO DEFINE WHAT IT WAS WE’RE ACTUALLY DEFENDING. SO IT’S NOT SORT OF A SPECIFIC INDUSTRY, NECESSARILY, WHICH WAS THE BIG SHIFT. AND ELECTIONS REALLY TAUGHT US THIS, IS WHEN YOU HAVE AN ADVERSARY THAT’S SEEKING TO UNDERMINE THE CONFIDENCE IN OUR DEMOCRATIC INSTITUTIONS, IN SOME WAYS, THEY’RE DOING IT THROUGH SORT OF TRADITIONAL HACKING. BUT THEN THERE’S A LOT OF OTHER WAYS THAT WE TRY TO ACCOMPLISH OUR GOALS. AND SO COMING UP WITH THESE NATIONAL CRITICAL FUNCTIONS, WHICH IS PUBLIC AND COVERS EVERYTHING FROM THINKING ABOUT HOW WE ARE TRYING TO DEFEND THE INTERNET ECOTO BROADER AREAS. >>YOU MENTIONED THE NATION STATES ETC. THE U.S. FACES. YOU HAVE RUSSIA, IRAN, CHINA. WHAT DOES IT MOON TO BUILD BETTER CYBER DEFENSES AGAINST NATION STATE ATTACKS? >>THERE IS AN ELEMENT OF, YOU KNOW, BUILDING THE ACTUALLY TECHNOLOGY DIFFERENCES. THAT’S IMPORTANT. WHEN YOU THINK ABOUT A LOT OF THESE INSTITUTIONS THAT ARE THE TARGETS OF SOME OF THESE NATION STATES, SOME OF THEM HAVE A FAIR AMOUNT OF RESOURCES AT THEIR DISPOSAL. MANY OF THEM DO NOT. MANY ARE RUN BY STATE AND LOCAL ORGANIZATIONS, AND SO THEY ARE OFTEN THE LEAST ABLE TO PROCURE A LOT OF THESE SORT OF SEXY CYBER SECURITY TECHNOLOGIES PEOPLE LIKE TO TALK ABOUT. SO THERE IS A COMPONENT OF, YOU KNOW, HOW DO WE WORK WITH THE MARKET TO BUILD MORE SECURE SOLUTIONS, PARTICULARLY IN INDUSTRIAL CONTROL SYSTEMS, THE SPACE THAT WE WORK IN A LOT. BUT THEN THERE’S ALSO — AND REALLY, WHAT WE’VE LEARNED OVER THE LAST COUPLE OF YEARS IN PARTICULAR, IT’S ALSO ABOUT BUILDING A MORE RESILIENT AND AWARE PUBLIC. MUCH OF OUR INSTITUTIONS ARE BUILT ON TRUST, AND ADVERSARIES HAVE LEARNED HOW THEY CAN MANIPULATE THAT TRUST. NOT JUST SORT OF A TECHNOLOGY THING WE HAVE TO APPROACH, IT’S REALLY THESE SORT OF BROADER TRUST ISSUES. AND IMPORTANTLY, FOR THE FEDERAL GOVERNMENT, YOU KNOW, HOW DO WE GET INFORMATION OUT INTO THE PUBLIC, BUT ALSO HOW DO WE GET IT TO THOSE WHO OWN THOSE SYSTEMS WHO CAN DO SOMETHING ABOUT THE THREAT. >>SO YOU HAVE QUITE AN INTERESTING JOB. YOU HAVE AN AGENCY DOING A LOT OF WORK. YOU KNOW, MOST PEOPLE HAVE A 9 TO 5 JOB. I DON’T. I GO KNOW CYBER SECURITY IS NEVER ENDING. SOME PEOPLE GO HOME AND HAVE A BEER. I DON’T GET TO DO THAT. FOR YOU, IS IT EVER QUIET, OR IS IT JUST LUKE DRINKING FROM A FIRE HOSE? >>IT’S — YOU KNOW, IT’S RELATIVE. I’VE BEEN DOING THIS NOW A REALLY LONG TIME. I WAS IN THE ARMY FOR SEVERAL YEARS. WHAT I’VE FORCED MYSELF TO DO IS, YOU’RE IN THIS FOR THE LONG HAUL. THERE IS ALWAYS SOMETHING GOING ON. THERE IS ALWAYS A BREACH. THERE ARE ALWAYS REPORTERS REPORTING ON THINGS YOU HAVE TO DEAL WITH. >>THOSE PESKY REPORTERS. >>SO THERE’S ALWAYS SOMETHING GOING ON. I THINK IT’S REALLY IMPORTANT — YOU KNOW, I HAVE AN AMAZING TEAM OF SEVERAL HUNDRED PEOPLE THAT — YOU KNOW, WE DO HAVE 24/7 ORGANIZATIONS, AND IT’S ABOUT PUTTING THE TRUST IN THE TEAM. IT’S RECOGNIZING THAT EVERY DAY CAN’T BE THAT SORT OF MOST URGENT FIRE HOSE. YOU’VE GOT TO SAVE IT FOR WHEN THINGS ARE REALLY BAD. >>SO, YOU KNOW, YOU’VE BEEN IN GOVERNMENT FOR, YOU KNOW, OVER A DECADE, YOU KNOW. AND SO — YOU KNOW, THE U.S. GOVERNMENT HAS A BIT OF A SKILLS SHORTAGE, YOU KNOW. THE PRIVATE INDUSTRY IS — YOU KNOW ISSUE PAYS MORE. NATIONAL SECURITY CLEARANCE TAKES AWHILE. IS IT A NATIONAL SECURITY RISK WHILE THE U.S. GOVERNMENT STRUGGLES IN PLACES TO COMPETE WITH PRIVATE INDUSTRY? >>I WOULD SAY IT’S BROADER. IT’S A NATIONAL SECURITY RISK THAT WE DON’T HAVE THE TALENT REGARDLESS OF GOVERNMENT OR THE PRIVATE SECTOR. WE DON’T HAVE ENOUGH — YOU KNOW, THERE’S A LOT OF PEOPLE THAT TALK ABOUT, YOU KNOW, THE TECH SHORTAGE OVERALL. BUT PARTICULARLY THE SECURITY, IT SUFFERS EVEN MORE. AND WE HAVE A MASSIVE SHORTAGE WE ARE EXPECTING WILL GROW LARGER. SO WE ACTUALLY SPEND A LOT OF TIME INVESTING IN EVEN K THROUGH 12 CURRICULUM. WE HAVE A SCHOLARSHIP PROGRAM THAT WE PUT IN PLACE. AND I THINK — WE’RE TRYING TO CHANGE THE WAY THAT PEOPLE THINK ABOUT WORKING WITH THE GOVERNMENT, TOO. A LOT OF TIMES HISTORICALLY, PEOPLE THINK YOU GO TO THE GOVERNMENT. THEN YOU’VE GOT 30 YEARS. YOU CAN — YOU HAVE YOUR RETIREMENT PAYCHECK. THAT’S FINE. THAT’S GREAT IF PEOPLE WANT TO DO THAT. BUT I ALSO RECOGNIZE THAT THERE’S PEOPLE THAT, YOU KNOW, PAY FOR A SCHOLARSHIP. THEY COME WORK FOR US FOR THREE TO FIVE YEARS. WE TRAIN THEM. THEY’RE AWESOME. BUT THEN THEY GO, AND THEY WORK IN THE PRIVATE SECTOR FOR A FEW YEARS, AND MAYBE AFTER THEIR KIDS ARE DONE WITH COLLEGE, THEY CAN COME BACK AND WORK FOR US. BUT I THINK — SOME PEOPLE >>REFEREE: TO THAT IN A NEGATIVE WAY. I THINK IT BUILDS A COMMUNITY OF PEOPLE OF SHARED SORT OF EXPERIENCE. THEY UNDERSTAND WHAT IT’S LIKE ON THE GOVERNMENT SIDE. THEY UNDERSTAND EVALUATE’S LIKE IN THE PRIVATE SECTOR. IN SECURITY, WE’RE REALLY ALL TRYING TO DO THE SAME THINGS. AND SO THAT’S THE CULTURE. AND WE ACTUALLY WILL BE DEBUTING IN THE NEXT YEAR AN ENTIRELY NEW WORK FORCE PROGRAM THAT’S REALLY MODELED AFTER HOW TECH COMPANIES RECRUIT AND RETAIN INDIVIDUALS, AND SO WE’RE REALLY TRYING TO CHANGE THE NATURE OVERALL OF GETTING PEOPLE MORE INTO SECURITY OVERALL, BUT ALSO PARTICULARLY ENCOURAGE THEM TO WORK FOR US, EVEN IF IT’S ONLY FOR A COUPLE YEARS. >>SO S,SA, LOT OF BUSINESSES WITH EMERGING THREATS, SOME HAVE COMPLAINED THEY’RE NOT GETTING THE INTELLIGENCE THAT THEY NEED. WHAT CAN THE GOVERNMENT DO MORE TO, YOU KNOW, PROTECT PRIVATE BUSINESSES? >>SO I WOULD SAY, FIRST OF ALL, PRIVATE BUSINESSES, THERE IS AN ACCOUNTABILITY. THEY NEED TO BE RESPONSIBLE FOR PROTECTING THEMSELVES. OFTENTIMES, WE DO A LOT OF INCIDENT RESPONSE — AND WE SEE A LOT OF PEOPLE THAT WEREN’T DOING REALLY SYSTEM OF THE BASICS. AND OFTENTIMES, IT’S BECAUSE THEY DIDN’T THINK THEY HAD ANYTHING OF VALUE THAT SOMEBODY WOULD BE AFTER. THEY DIDN’T REALLY THINK ABOUT THE FACT THEY HAVE A BUSINESS RELATIONSHIP WITH — MAYBE THEY WEREN’T THE TARGET. MAYBE THEY WERE JUST THE STAGE TO GET TO THE ULTIMATE TARGET. OR THEY DON’T THINK ABOUT THE FACT THAT, YOU KNOW, THEIR PRODUCT IS COLLECTING A LOT OF PRIVATE INFORMATION THAT A CRIMINAL COULD MONOTIES, OR A NATION STATE COULD EVEN COLLECT. SO THAT’S KIND OF PART OF IT. AND WE’RE REALLY TRYING — AND I DON’T KNOW IF A LOT OF PEOPLE ARE AWARE, BUT THIS IS NATIONAL CYBER AWARENESS MONTH. THIS IS OCTOBER. SO CONSIDER YOURSELF ALL AWARE. AND — BUT ONE OF THE THINGS WE’RE TRYING TO REALLY FOCUS ON, PARTICULARLY IN OCTOBER, IS RAISING THE LEVEL OF PUBLIC AWARENESS. EVERYBODY NOW INTERACTS WITH THE INTERNET OR A COMPUTER IN A NETWORK SYSTEM IN SOME WAY. SO HOW CAN YOU BE ACCOUNTABLE FOR THAT? HOW DO YOU ACT AS A RESPONSIBLE CONSUMER AS AN ONLINE CITIZEN IN YOUR BUSINESS, AND SO, IN TERMS OF THAT, I THINK IT’S VERY IMPORTANT. I ALSO THINK A LOT OF PEOPLE THINK CYBER SECURITY CAN BE FIXED BY BETTER AND MORE INTELLIGENCE. INTELLIGENCE IS NOT GOING TO SOLVE ANY SECURITY PROBLEM, MUCH LESS CYBER SECURITY, AND A LOT OF IT, WE’D LIKE TO SEE MORE MARKET SOLUTIONS, YOU KNOW, MORE AUTOMATION, MORE ORCHESTRATION OF CAPABILITIES THAT ARE AT A PRICE POINT THAT, YOU KNOW, MORE ORGANIZATIONS CAN AFFORD. AND I THINK THE GOVERNMENT HAS AN OPPORTUNITY TO SORT OF PUSH SOME OF THAT, MORE STANDARDS. WE DO NEED TO GET MORE INTELLIGENCE OUT. I WILL SAY, WE NEED TO DO BETTER ON THAT. WHEN WE HAVE INTELLIGENCE, WE NEED TO GOT IT TO ORGANIZATIONS. IT NEEDS TO BE IN A WAY THEY CAN DO SOMETHING WITH IT. I CAN’T BE JUST, “HEY, HERE’S THIS IP ADDRESS THAT’S BAD.” IT NEEDS TO BE HERE WHAT’S GOING ON. HERE’S WHAT WE UNDERSTAND. THAT’S OFTEN VERY HARD FOR GOVERNMENT TO RELEASE THAT INFORMATION. >>WHAT CAN IMPROVE THAT INTELLIGENCE-SHARING RELATIONSHIP? IT GOES BOTH WAYS. YOU HAVE COMPANIES LIKE FACEBOOK WHO COMPLAINED THAT GOING UP TO THE 2016 ELECTION, THEY WEREN’T GIVEN ENOUGH INFORMATION. IT DOES GO BOTH WAYS. HOW CAN THE GOVERNMENT PROACTIVELY TRY TO IMPROVE THAT RELATIONSHIP? >>WELL, I THINK THERE’S A FEW THINGS, AND THOSE ARE VALID COMPLAINTS, AND WE’VE SPENT A LOT OF TIME. A LOT OF WHAT WE DO IS WE’RE THE POINT FOR SURING THAT INFORMATION, EVEN IF WE’RE NOT THE ONES THAT ORIGINALLY COLLECTED IT. AND WHAT WE FOUND IS THAT YOU’LL HAVE — AND YOU HEARD FROM THE FORMER DIRECTOR OF NSA. THEY HAVE A PIECE OF THE PUZZLE. BUT WHERE WE SORT OF SEE OURSELVES IS THAT’S ONE PART OF IT. BUT IT’S MISSING CONTEXT. YOU KNOW, WE’RE DOING A BUNCH OF WORKS WORK WITH THE BANKS NOW IN TALKING ABOUT THESE NATIONAL CRITICAL FUNCTIONS, AND, YOU KNOW, UNDERSTANDING HOW THE WHOLESALE PAYMENT SYSTEM WORKS. AND, YOU KNOW, TALKING ABOUT THE TRILLIONS OF DOLLARS THE BANKS ARE CLEARING EVERY DAY. THAT’S SOMETHING THAT AN ADVERSARY WOULD PROBABLY WANT TO DISRUPT OR DEGRADE OR JUST GIVE THE PERCEPTION THEY’RE DOING THAT. SO IT’S NOT SO MUCH — AND THE GOVERNMENT NEEDS TO HAVE THAT UNDERSTANDING OF HOW THOSE SYSTEMS WORK IN A WAY — IN A LEVEL OF DEPTH YOU CAN THEN TURN TO THE COLLECTORS AND SAY, “HEY, CAN YOU TELL ME IF YOU’VE GOT ANYBODY LOOKING TO COLLECT AGAINST THIS TYPE OF SOFTWARE THAT THEY’RE USING, AS AN EXAMPLE.” THAT THEN WOULD BE USEFUL INFORMATION. THAT WOULD BE A POTENTIAL INDICATOR OR WARNING SOMEBODY IS TRYING TO DO SOMETHING. IN THE CASE OF, YOU KNOW, FOREIGN INFLUENCE, WHEN YOU’RE TALKING ABOUT WITH FACEBOOK, WE NEED TO — THAT’S POTENTIAL, YOU KNOW, INFORMATION THAT IS OFTEN SOME OF THE MOST SENSITIVE INFORMATION. WE HAVE TO BREAK DOWN A LOT OF THOSE BARRIERS, AND WE HAVE TO THINK ABOUT THE PRIVATE SECTOR AS A PARTNER IN INTELLIGENCE SHARING, WHICH IS A BIG SHIFT FOR THE GOVERNMENT. >>SO TWO YEARS AGO, IT WAS WIDELY REPORTED THAT THE NSA MISTAKENLY LET GO OF ITS PRIZED HACKING TOOLS, WHICH WERE USED TO LAUNCH AND SPREAD THE WANNACRY RAN SOMEWEAR ATTACK, WHICH I THINK MOST PEOPLE WERE AWARE OF THAT HAPPENING. IT WAS QUITE A DAMAGING EVENT. WHAT IS THE U.S. DING TO PREVENT ANOTHER PUBLIC WANNA CRY STYLE ATTACK? >>I DON’T KNOW THAT WE COULD EVER PREVENT SOMETHING LIKE THAT, YOU KNOW, WHERE YOU JUST HAVE SOMETHING THAT COMPLETELY MANIFESTS ITSELF AS A WORM, AND KIND OF — EVEN I THINK THE ORIGINAL PERPETRATORS OF THAT DIDN’T EXPECT PROBABLY THAT SORT OF IMPACT. WHAT WE ARE — WE DO WANT TO PREVENT, AND THERE’S — YOU KNOW, THERE’S A LOT OF THINGS ON THE PREPAREDNESS, THE PREVENTION WE HAVE ALREADY TALKED ABOUT IN TERMS OF, FRANKLY, THE DUMBING YOUR PATCHES, SOME OF THOSE KIND OF BASIC THINGS THAT WOULD HAVE PREVENTED A FAIR AMOUNT OF PEOPLE FROM BEING A VICTIM OF THAT. BUT I ALSO THINK IT’S IMPORTANT TO, YOU KNOW, BUILD MORE RESILIENCE IN OUR SYSTEMS, TO — WITH TALK A LOT ABOUT MITIGATING THE CONSEQUENCES. SO ACKNOWLEDGE THAT THESE BAD THINGS ARE GOING TO HAPPEN, BUT HOW CAN WE BE BETTER PREPARED TO WORK TOGETHER. SO FOR W,NNACRY, WHEN — AND I’LL TALK ABOUT THIS A LITTLE BIT. BUT NOT A LOT OF PEOPLE REALLY OATH UNDERSTAND THE YEARS OF WORK HALF GONE INTO BUILDING GLOBAL ALLIANCES. I RUN THE UNITED STATES CRT, COMPUTER RESPONSE TEAM. MOST COUNTRIES HAVE SORT OF A VERSION OF THAT. WHEN WANNACRY STARTED IN ASIA, WE WERE GETTING INFORMATION FROM OUR PARTNERS IN ASIA ABOUT WHAT WAS GOING ON. THEY WERE PASSING INFORMATION TO US. FOR THE U.S., FOR REALLY THAT KIND OF ENTIRE FIRST HALF OF THE DAY, WE WERE GETTING ADVANCED INFORMATION BECAUSE OF THE THOSE PALMS WE HAD BUILT OVERSEAS, AND THOSE — AND THOSE NATIONAL CRTS WERE GETTING INFORMATION FROM THEIR LOCAL BUSINESSES, WHO WERE BEING ATTACKED. YOU KNOW, LUCKILY, THERE WAS AN ENTERPRISING INDIVIDUAL WHO WAS ABLE TO FIND A WAY TO KILL IT, AND IT DIDN’T IMPACT THE U.S. AS MUCH. BUT WHAT WE REALLY RECOGNIZED IS THAT WE NEEDED TO HAVE THOSE SORTS OF MECHANISMS, BUT MUCH MORE ROBUST IN THE UNITED STATES TO THINK ABOUT, LIKE, HOW — HOW DO YOU MOBILIZE INDUSTRY AND GOVERNMENT ALLIES TO COMBAT SOMETHING LIKE THIS AS IT’S EMERGING. SO SINCE THEN, WE’VE BEEN BUILDING MORE OF THOSE PLANS. WE HAVE A LOT OF REPRESENTATIVES FROM COMPANIES THAT SIT ON OUR FLOOR WITH US, AND WE WORK THROUGH THESE THINGS TOGETHER SO THAT IF WE HAVE THESE SORTS OF SCENARIOS COME UP, THAT WE’RE READY TO RESPOND QUICKLY, EVEN IF WE DIDN’T PREVENT IT. >>SO — YOU HAVE THE START OF AND LARGE BUSINESSES ALIKE, HAVE ONE THING IN COMMON, AND THAT’S THEY VERY MUCH RELY ON THE SUPPLY CHAIN, WHICH IS SOMETHING I KNOW CYS IS VERY INVOLVED IN. IT’S WHERE BUSINESSES GET TECHNOLOGIES FROM, THEIR SERVICES, HARDWARE, SOFTWARE. WHAT KIND OF THREATS DO YOU SEE, YOU KNOW, AGAINST THE GLOBAL SUPPLY CHAIN? OF COURSE, IT’S — AS I SAID, IT’S A DIFFICULT QUESTION. EVERY SUPPLY CHAIN IS DIFFERENT. WHAT KIND OF THREATS DO YOU SEE? >>WELL, THERE’S A LOT OF DIFFERENT — THERE’S A LOT OF DIFFERENT THREATS. YOU SEE A LOT OF, YOU KNOW, FOREIGN GOVERNMENTS THAT ARE SORT OF FINDING CLEVER WAYS TO MASK THEIR INFLUENCE IN INVESTMENTS, AND IN FINDING WAYS TO MANEUVER AROUND THE WAYS THAT THE GOVERNMENT TRADITIONALLY CAN HAVE SOME ABILITY BLOCK INVESTMENTS THAT WE’RE CONCERNED ABOUT. I WOULD SAY THE BEST ADVICE I COULD GIVE WOULD BE HOW WE THOUGHT ABOUT KAPURSKY. FOR MANY, MANY YEARS, THERE WAS A LOT OF CONVERSATION ABOUT, YOU KNOW, SHOULD WE USE IT, SHOULD WE NOT. AND I WAS VERY FRUSTRATED, AND THIS GETS TO THE INTELLIGENCE THING, TOO, IS A LOT OF PEOPLE WANT INTELLIGENCE TO JUST GIVE THEM, “THIS IS THE RIGHT ANSWER.” AND THAT’S USUALLY NOT WHAT YOU’RE BEGINNING GET. AND SO WHAT WE DECIDED WITH K,SPERSKY IS WE WERE NOT COMFORTABLE WITH GOVERNMENT DATA BEING HOUSED IN A COUNTRY WHERE, WHETHER A COMPANY WANTED TO OR NOT, COULD BE REQUIRED TO HAND THAT DATA OVER TO THE SECURITY SERVICE. AND SO WE HAVE THE AUTHORITY TO ACTUALLY DIRECT FEDERAL AGENCIES TO TAKE ACTION. AND WE DECIDED TO DO IT PUBLICLY FOR DUE PROCESS REASONS. WE WANTED ANYBODY WHO WOULD BE POSSIBLY IMPACTED BY THIS DECISION TO REMOVE KASPURSKY. OUR THINKING WAS — AND I WOULD ENCOURAGE ANYBODY, WHEN YOU’RE THINKING ABOUT YOUR SUPPLY CHAIN, WHETHER THAT’S FROM A SOFTWARE, HARDWARE, BUSINESS RELATIONSHIP PERSPECTIVE, SORT OF THREE THINGS IN THAT WE THINK ABOUT, AND WILL CONTINUE TO THINK ABOUT FROM A BROAD NATIONAL POLICY, IS THE FIRST IS, LIKE, THE LAWS OF THE COUNTRY. AND KNOW THAT’S SOMETHING THAT A LOT OF PEOPLE DON’T WANT TO NECESSARILY TALK ABOUT. BUT THE LAWS OF THE COUNTRY WHERE THE DATA IS HOUSED OR TRANCE ITED OR WHERE THE COMPANY OPERATES, IT’S IMPORTANT TO CONSIDER. IF THERE’S NOT THAT JUDICIAL REVIEW AND, YOU KNOW, A COMPANY CAN BE COMPELLED, YOU WANT TO MAYBE CONSIDER, IS THAT PLACE WHERE I WANT MY DATA TO BE HELD? BUT THAT CAN’T BE THE ONLY THING THAT YOU CONSIDER, BECAUSE THAT’S NOT THE ECONOMY WE LIVE IN, AND I DON’T THINK IT MAKES SENSE JUST TO SORT OF SUDDENLY BAN ALL THINGS JUST BECAUSE IT COMES FROM ONE COUNTRY. SO WE TRY TO BE A LITTLE MORE NUANCED. THE SECOND THING IS REALLY TO THINK ABOUT WHAT SORT OF ACCESS DOES THAT PIECE OF, IN THIS CASE, SOFTWARE HAVE, YOU KNOW, AN ANTIVIRUS. THERE’S A FAIR AMOUNT OF ACCESS IT HAS TO YOUR COMPUTER AND YOUR DATA. AND SO THAT WAS — THAT REALLY IS THAT SECOND PART. THE LAST PART — THIS IS MORE FROM A NATIONAL PERSPECTIVE, IS WHAT’S THE MARKET PENETRATION. YOU KNOW, IF SOMETHING GETS THE FIRST TWO, BUT IT’S NOT SOMETHING THAT’S WIDELY USED IN THE U.S., THEN THAT’S PROBABLY NOT SOMETHING WE’RE GOING TO GET FIRED UP ABOUT. >>WE HAVE A LITTLE TIME LEFT. MY FINAL QUESTION IS, IS IT TRULY POSSIBLE TO SECURE THE SUPPLY CHAIN? AND HOW MUCH SHOULD GOVERNMENT? HOW MUCH SHOULD PRIVATE BUSINESSES TAKE RESPONSIBILITY FOR IT? >>I DON’T THINK IT’S POSSIBLE, TO 100%, SECURE ANYTHING. AND SO WE TALK A LOT ABOUT RISK MANAGEMENT. AND, YOU KNOW, WE SEE OURSELVES AS RISK ADVISERS AND RISK MANAGERS. I THINK EVERYBODY HAS TO BE A RISK MANAGER IN YOUR OWN ORGANIZATION. YOU HAVE TO UNDERSTAND WHAT’S MOST IMPORTANT. AND YOU HAVE — AND JUST, YOU KNOW, UNDERSTAND THE RISK YOU’RE TAKING ON IF YOU AWARE A COMPANY, IF YOU’RE ENJOYING — YOU KNOW,, HAVE INVESTMENT FROM, YOU KNOW, CERTAIN INDIVIDUALS OR ORGANIZATIONS. UNDERSTAND WHAT THAT — WHAT THAT RISK ACTUALLY IS. BUT THEN, MAKE THE DECISIONS BASED OFF OF YOUR OWN RISK CALCULUS, AND THAT’S HOW I THINK OF THE BROADER SUPPLY CHAIN, IS, YOU KNOW, A LOT OF PEOPLE ARE TALKING ABOUT 5G AND ALL THE CHALLENGES THERE, AND IT’S — WE HAVE TO THINK ABOUT IT FROM A NATIONAL PERSPECTIVE IS, IN MANY CASES, WE’VE OUTSOURCED THE MANUFACTURING OF CERTAIN CORRESPONDENTS OF OUR COMMUNICATIONS SYSTEMS OUTSIDE OF THIS COUNTRY. AND THAT’S THE ECONOMICS OF WHERE WE ARE, AND WE CAN’T SPIN THAT AROUND ON A DIME. SO WE HAVE TO THINK ABOUT HOW DO WE CREATE MORE TRUST AND TRANSPARENCY IN OUR SUPPLY CHAIN, AND AGAIN, I SAY “SUPPLY CHAIN” BROADLY, MEANING UT PRODUCTS AND SERVICES. SO THAT’S REALLY WHAT — MORE TRANSPARENCY, SO THAT ANYBODY CAN MAKE THAT RISK DECISION MORE BRADLEY AT THAT NATIONAL LEVEL, REALLY HAVING THAT UNDERSTANDING OF WHERE WE CAN’T ACCEPT RISK AND WHERE, FRANKLY, THERE’S AREAS WHERE YOU HAVE TO ACCEPT RISK. >>SADLY, THAT’S ALL THE TIME WE HAVE. THANK YOU SO MUCH. CHEERS. . >>>. >>>OH, HE MISSED. ALL RIGHT. OKAY. ON THE Q AND A STAGE, IF YOU HAVEN’T HAD ENOUGH SECURITY TALK IN YOUR LIFE, THEN THAT’S WHERE ISSUE BE HEADED NOW. AT 3:30, WE WILL HAVE SECURING YOUR START UP WITH JENNIFER STEVENS, DOUG SOM FROM DEWESS SECURITY. IF YOU WANT TO CHECK THAT OUT, NOW IS THE TIME. GET YOUR QUESTIONS SUBMITTED. BUT NOW WE’RE GOING TO BE TALKING A LITTLE BIT ABOUT WEDDINGS. ANYBODY MARRIED IN THE AUDIENCE? KEEP YOUR HAND RAISED IF YOU ACTUALLY PLANNED THAT WEDDING. SO YOU KNOW WHAT’S UP, YEAH. OUR NEXT — OUR NEXT GUEST KNOWS FOR SURE WHAT’S UP. SHE’S BUILDING TOOLS TO FIX A LOT OF THE PROBLEMS INVOLVED IN THAT. SO PLEASE WELCOME TO THE STAGE FROM Z,LA, THE COFOUNDER AND CEO SHANNON MAU. WARM WELCOME, PLEASE. . >>CAN YOU GUYS HEAR ME? EXCELLENT. >>HI, SHANNON. >>HI. >>THANK YOU VERY MUCH FOR COMING ON, AND I HAVE JUST ONE QUESTION FOR YOU >>YES. >>ARE YOU MARRY ME? JUST KIDDING. >>MAYBE. >>NO. ANYWAY, WELCOME. THANK YOU FOR COMING. YOU’VE GOT AN AMAZING BUSINESS GOING ZOLA, WEDDING WEB SITE, FOR WEDDING PLANNING, RIGHT? YOU GUYS ARE HUGE. ABSOLUTELY MASSIVE. YOU STARTED IN WHEN? 201, RIGHT? >>YEAH, 2013. ALSO KNOWN AS THE YEAR ALL MY FRIENDS GOT MARRIED AT EXACTLY THE SAME TIME, AND I WAS GOING TO A LOT OF WEDDINGS THAT YEAR, SPENDING A LOT ON TRAVEL, PRESENTS, A LOT OF ANGST ON BOTH MY PART AND MY FRIENDS GETTING MARRIED PART. A LOT OF THESE WEDDING REGISTRIES THAT I’M BIG FROM SEEM OUTDATED, ANTIQUATED. I FEEL LIKE MYSELF AND MY COFOUNDER, WE COULD BUILD A MUCH BETTER PRODUCT FOR OUR FRIENDS GETTING MARRIED TODAY. >>SO YOU BUILT IT OUT OF A KIND OF PERSONAL EXPERIENCE? >>EXACTLY. >>AH, LIKE HOUSE? WHICH I ALWAYS THINK OF YOU GUYS AS A LITTLE, LIKE, HOUSE. SO THAT’S INTERESTING. >>YEAH. AND WE SHARE SOME COMMON INVESTORS. >>OH, WOW. >>WHO SEE THE ANALOGIES BETWEEN WHAT HOUSE HAS DOWN ON HOME RENOVATION, WE’RE DOING IN THE WEDDING SPACE. >>IT’S FUNNY THING, THOUGH, BECAUSE YOU POINTED OUT. THERE WERE, LIKE, A, THEN, OF SITES UP THERE ALREADY WHEN YOU — WHEN YOU GUYS HIT THE MARKET. HOW WAS THAT? I MEAN, DID YOU — WAS THAT — DID THAT MEAN IT WAS ACTUALLY REALLY HARD TO GET USERS IN THE BEGINNING? HOW DID YOU CARVE OUT A PLACE FOR YOURSELF, IN WHAT’S A PRETTY ANTIQUATED MARKET? >>WELL, WE LOOKED AT NOW THE ENTIRE WEDDING PLANNING PROCESS, AND THOUGHT, WHY IS IT THAT ON AVERAGE, BEFORE ZOLA, A COUPLE HAD TO USE 20 DIFFERENT SITES TO PLAN ONE DAY. MANY OF THESE SITES OR APPS NOT EVEN BUILT FOR WEDDING PLANNING WHEN COUPLES TODAY WHO ARE THE MILLENNIAL GENERATION, THEY HAVE SO MUCH GREAT APPS AND PRODUCTS IN EVERY OTHER PART OF THINKER LIFE. AND THEY EXPECT A LOT MORE. AND SO WE THOUGHT, WHAT IF WE COULD BILL THE ULTIMATE GO TO SITE, AN APP WHERE COUPLES COULD PLAN EVERYTHING FOR THEIR ONE DAY IN THE ONE PLACE, AND LOW’S START WITH WEDDING REGISTRY, BECAUSE THAT’S WHAT WE KNOW. ‘S E COMMERCE RELATED. THAT’S WHERE WE ARE PARTICULARLY STRONG WITH THAT BACKGROUND. WE FOUND THAT SPACE ALONE WAS VALUABLE AND UNDERSERVED, AND WE COULD INNOVATE TO GIVE COUPLES WHAT THEY REALLY WANTED, WHETHER IT WAS PRODUCTS OR EXPERIENCES ON CASH IN A BEAUTIFUL REGISTRY OR IN THE ONE PLACE. >>RIGHT. SO YOU GUYS ARE — JUST TO MAKE THAT CLEAR, THE THING YOU’RE DOING THAT IS’S QUITE INTERESTING IS, YES, IT’S A MARKETPLACE, WHERE YES, YOU CAN REGISTER FOR SPECIFIC THINGS, LIKE TEA KETTLES, BUT YOU CAN ALSO DO OTHER THINGS, RIGHT? YOU DON’T HAVE TO REGISTER FOR ACTUAL OBJECTS, WHICH IS VERY IN KEEPING WITH HOW PEOPLE SHOP TODAY, RIGHT? >>THAT’S RIGHT. IT TURNS OUT TODAY’S COUPLES, ON AVERAGE, WE SEE WANT TO REGISTER FOR A MIX OF ALL THINGS, FROM TRADITIONAL THINGS LIKE KETTLES TO MORE PRODUCTS OF TODAY, LIKE A SONO SOUND SYSTEM, TO EXPERIENCES LUKE WINE TASTING. >>RIGHT. >>TO CASH. >>AND DO YOU DO GIFT CARDS AND STUFF LIKE THAT, TOO? >>WE ALSO DO THAT. >>VERY MODERN. SO ON THE SUBJECT OF MODERN, THOUGH, IT’S KIND OF AN INTERESTING THING. I MEAN, IT’S JUST — IT’S AMAZING, THE SUCCESS YOU’VE HAD, BUT ALSO SO SURPRISING, PARTLY BECAUSE OF THAT — THE FACT THAT, LIKE, WEDDING SITES WERE THE FIRST ONES TO HIT THE WEB WHEN THE WEB FIRST CAME INTO EXISTENCE, BUT ALSO BECAUSE MARRIAGE HAS CHANGED SO MUCH. YOU KNOW, I WAS LOOKING UP SOME STATS, AND IT’S — HALF OF ALL PEOPLE OVER 18 ARE MARRIED NOW, GET MARRIED QUICKLY. BUT IT’S GONE DOWN MASSIVELY IN THE U.S. LIKE, YOU KNOW, SINCE 1990. YOU’VE GOT ALL SORTS OF OTHER THINGS. THEY’RE GETTING MARRIED MUCH LATER. THESE PEOPLE THAT AREN’T GETTING MARRIED. THE TRADITIONAL MAN AND WOMAN HAS BEEN COMPLETELY THROWN OUT THE WINDOW. AND YET YOU STILL HAVE A PLACE THERE. SO ARE YOU GUYS, LIKE, CATERING TO ALL OF WHAT I’VE JUST DESCRIBED, OR WHAT? . >>YEAH, ABSOLUTELY. AND ONE OF THE THINGS, I THINK, MYSELF AND MY TEAM ARE MOST PROUD OF IS THAT WE BUILD PRODUCTS THAT SERVE ANY TYPE OF COUPLE, NO MATTER WHO THEY ARE, WHERE THEY LIVE WITHIN THE U.S., OR WHATEVER DEVICE THEY LIVE ON. AND WE DO SEE FOR SURE THAT COUPLES GETTING MARRIED TODAY ARE UNLIKE ANY PREVIOUS GENERATION. SO THE AVERAGE AGE OF COUPLE GETTING MARRIED TODAY IS MUCH OLDER. >>HOW OLD IS IT? >>IT’S ON AVERAGE 28 TO 30, WHEREAS JUST OUR PARENT’S GENERATION, THE AVERAGE AGE WAS MAYBE 21 TO 22. >>RIGHT. >>AND WHAT THAT MEANS IS THAT COUPLES TODAY, THEY LIVE TOGETHER BEFORE THEY GET MARRIED ON AVERAGE. THEY’RE BOTH WORKING. THEY BOTH HAVE A LOT OF — HAVE A LOT OF TIME TO THINK ABOUT WHAT MARRIAGE AND WEDDINGS MEAN TO THEM, AND SO, YOU KNOW, REALLY THE IDEA OF PERSONALIZING YOUR WEDDING AND YOUR MARRIAGE IS SO MUCH MORE IMPORTANT NOW, I THINK, BECAUSE PEOPLE GET THAT LEVEL OF PERSONALIZATION IN EVERY OTHER PART OF THEIR LIFE ONLINE. >>YEAH. ARE YOU GUYS AT ALL LOOKING AT JUST COUPLES WHO ARE SORT OF MAKING LIFETIME COMMITMENTS? IS THAT SOMETHING THAT YOU ALSO CATER FOR? >>WELL, WE — WE ARE HAPPY TO SERVE COUPLES. REALLY, WE THINK OF IT AS A LIFE STAGE. WHERE THEY ARE TRANSITIONING FROM A SUNG THE PERSON TO ENGAGED, MAKING A COMMITMENT TO EACH OTHER, AND TRANSITIONING INTO OFTEN A NEWLYWED HOME TOGETHER. >>OKAY. >>EXPENSIVE, STRESSFUL, JOYFUL, AND NOT A LOT OF THINGS TO-YOU MAKE THAT TRANSITION. >>OKAY. SO ANOTHER INTERESTING THING ABOUT YOUR SITE IS THIS MARKETPLACE MODEL THAT YOU’RE DOING. AT THE SAME TIME, YOU’VE GOT A SORT OF FREEDOMIUM. TO CREATE THOSE REGISTRIES IS TOTALLY FREE. OF COURSE, YOU MAKE SOME CONVERSION. YOU MAKE COMMISSIONS ON WHEN SOME OF THOSE REGISTRY ITEMS GET PURCHASED, BUT YOU’VE ALSO GOT THINGS LIKE INVITATION PLANNING AND SO ON. HOW DO YOU DRAW PEOPLE INTO MORE OF THE PAID PRODUCTS OF THE SITE, AND HOW MUCH OF AN ISSUE IS IT TO GET PEOPLE TO DO THINGS THAT DRIVE REVENUE FOR YOU GUYS? >>SO I SHOULD CLARIFY. OUR BUSINESS MODEL FOR OUR WEDDING REGISTRY SPECIFICALLY, THE BEST ANALOGY HERE IS IT’S A HYBRID OF AN E COMMERCE SITE AND A MARKETPLACE SITE IN THAT WE HAVE, ON ZOHA, OVER 800 BRANDS THAT WE WORK DIRECTLY WITH IN THE ZOLA STORE, OVER 80,000 PRODUCTS, AND WHILE, YOU KNOW, COUPLES CAN REGISTER FOR THEM, GUESTS CAN BUY THEM. IT’S LIKE ANY OTHER E COMMERCE SITE. AND WE MAKE MONEY THROUGH WHOLESALE RETAIL MARGIN AS ANY OTHER RETAILOR DOES. THE TWIST AROUND THE MARKETPLACE IS THAT WE DON’T HOLD INVENTORY, AND THERE’S 80,000 PRODUCTS. THAT ALLOWS US TO OFFER MUCH MORE THAN YOU MIGHT FIND ON A NORMAL SITE. SO THAT’S REGISTRY. AND THEN, WITH THE LAUNCH IF OUR NEWEST BUSINESS, IMITATIONS OF PAPER, THAT IS MORE SIMILAR TO A VERTICALLY INTEGRATED DATA C COMPANY, WHERE WE HAVE ZOLA BRANDED — >>YEAH. >>– INVITATIONS, AND COUPLES CAN PICK WHATEVER DESIGN THEY WANT, PRINT IT, CUSTOMIZE IT WITH THEIR GUEST LIST ON OUR SITE, WHICH IS FREE, AND THE WEDDING WEB SITE, WHICH IS FREE. THE IDEA HERE IS WE WANT TO OFFER TOOLS THAT PEOPLE EXPECT TO BE FREE FOR FREE, AND THEN THERE’S THINGS THEY’RE ALREADY PAYING FOR ON HUNDREDS OF OTHER SITES. WE WANT TO DO IT, IN AN EASIER WAY AT GREAT VALUE. >>ARE YOU FINING YOU’RE ABLE TO CONVERT THOSE PEOPLE FROM THE FREE AS PECKS INTO THE MONOTIZING ASPECTS? IS THAT A CHALLENGE FOR YOU GUYS? OR IS IT REALLY SIMPLE, BECAUSE ONCE SOMEBODY DECIDES TO GET MARRY, THEY’VE ESSENTIALLY BOUGHT INTO THE IDEA THEY’RE GOING TO BLOW 10 GRAND? >>WELL, THE REASON WE’VE EXPANDED INTO MANY OF THOSE NEW PRODUCTS IS BECAUSE OUR COUPLES HAVE BEEN ASKING US AND BEGGING US AND DEMANDING THAT WE DO IT. SO WE — WHEN WE SET OUT TO BUILD THE COMPANY, I DON’T THINK WE EVER THOUGHT, WE’RE GOING TO BE INVITATIONS PRINTER. BUT THE COUPLES SAID — WHO USE US FOR REGISTRY SAID, “I’D LOVE TO ALSO MAKE YOU MY WEDDING WEB SITE. I’D LOVE TO PRINT MY INVITATIONS, MY PLACE CARDS, MY MENUS WITH YOU AND THE SAME DESIGN. THAT’S WHAT DREW US. SO YES, MANY COUPLES ARE FOLLOWING US THROUGH THAT JOURNEY, BECAUSE THEY ASK FOR IT, AND FOR US TO SERVE THEM IN THAT WAY. >>OKAY. NOW, YOU GUYS TODAY ARE ANNOUNCING A NEW THING THAT YOU’RE ADDING TO EXTEND THAT EVEN FURTHER, WHICH IS THE SORT OF POST-WEDDING, HONEYMOONS, RIGHT? YOU WANT TO TELL US A LITTLE BIT ABOUT THAT? >>EXCITED TO ANNOUNCE TODAY THE LAUNCH OF OUR LATEST PRODUCT, WHICH IS OUR HONEYMOONS PRODUCT. THIS WAS REALLY BASED ON THE DEMAND OF ZOLA COUPLES, ASKING US TO HELP THEM ALSO PLAN, GET INSPIRATION FOR IT, AND BOOK THEIR HONEYMOON ALL IN THE ONE PLACE. >>AND THAT IS SOMETHING YOU WILL BE EXPANDING SORT OF OVER TIME TO INCLUDE FLIGHTS AND THINGS LIKE THAT, RIGHT? >>EXACTLY. SO AT LAUNCH, THIS IS NEXT MONTH, WE — YOU KNOW, WE ALREADY HAVE A WAITING LIST OF THOUSANDS OF ZOLA COUPLES, WHO HAVE PUT THEMSELVES ON OUR WAITING LIST TO USE THIS PRODUCT. AND THE WAY IT WORKS IS THAT, THROUGH OUR TECHNOLOGY AND OUR TEAM OF TRAVEL EXPERTS, COUPLES CAN TELL US, “THIS IS WHAT THEY WOULD LOVE TO DO FOR THEIR HONEYMOON, THIS IS THEIR GENERAL TRAVEL STYLE, BUDGET, DATES, AND THEN WE WILL SEND BACK AN ITINERARY, WHICH THEY CAN IT RATE AND BOOK WITH US FROM THERE. AT LAUNCH NEXT MONTH, IT WILL BE FOCUSED FIRST AND FOREMOST ON ACCOMMODATION OF EXPERIENCES. THEN, OVERTIME, WE WOULD AIM TO HELP EVERYTHING YOU NEED TO DO FOR YOUR HONEYMOON. >>ONCE YOU DO THINGS LIKE FLIGHTS FOR THE COUPLES, THEN YOU’LL START TO OFFER THAT AS SOMETHING FOR, LIKE, FAMILIES AND FRIENDS WHO ARE COMING TO WEDDINGS AND STUFF, TOO, OR IS THAT — DO YOU SEE YOURSELF AS — IS THIS A CERTAIN FOOTHOLD TO CONTINUE EXPANDING DOPER INTO OTHER AREAS OF HOW YOU CAN SERVE TRAVEL NEEDS, OR — >>THAT’S EXACTLY RIGHT. I THINK THE MOST EXCITING THING FOR US AND SOMETHING THAT OUR CUSTOMERS HAVE DRAWN US INTO IS THAT WITH EACH OF OUR BUSINESSES WITHIN ZOLA, THEY HAVE SHOWN US THE PRODUCT AND THE BUSINESS ROAD MAP BASED ON THEIR OWN LIFE JOURNEY. SO IN THE SAME WAY THAT FOR OUR PAPER BUSINESS, WE STARTED FIRST WITH SAVE THE DATES, THEN INVITATIONS. THEY SAID, “HOW ABOUT MEN USE, PROGRAMS, THANK YOU CARDS, AND MORE AND MORE TIMES OF PAPER YOU SEND OUT. SAME WITH TRAVEL. WE WILL SEE HONEYMOONS, BUT THEN THERE’S A LOT OF DIFFERENT TYPES OF TRAVEL COUPLES AND THEIR GUESTS TAKE IN AND AROUND THE WEDDING, WHETHER IT’S BEFORE, DURING, OR AFTER THE WEDDING. AND WE’RE BUILDING THE TECHNOLOGY AND A TEAM TO SERVE THAT. >>OKAY. SO NOW, THIS IS SOMETHING THAT SLIGHTLY SHIFTS. IT’S SOMETHING I WANT TO TALK ABOUT A LITTLE LATER. BUT THE FACT IS THAT I — I LOOKED INTO WHAT THE AVERAGE LENGTH IS FOR PLANNING A WEDDING. >>YEAH. >>AND IT’S BETWEEN 13 RAND 18 MONTHS. >>YEAH. >>SO THAT EFFECTIVELY IMPLIES THAT THAT’S HOW LONG YOU WOULD HAVE A CUSTOMER. LIKE, A CUSTOMER WOULD ONLY BE YOUR CUSTOMER FOR ABOUT A YEAR TO A YEAR AND A HALF. HOW ARE YOU GUYS THINKING ABOUT THEM, AND THINKING ABOUT HOW YOU MIGHT POTENTIALLY EXPAND THAT? THAT’S NOT A LONG TIME TO BE A CUSTOMER. AMAZON, I’M GUESSING, HAS CUSTOMERS FOR A LOT LONGER THAN A YEAR. >>I THINK WHAT MANY PEOPLE ARE SURPRISED ABOUT, AND THEY CAN THINK ABOUT IT, OH, IT’S A SHORT TIME PERIOD, SO THEREFORE, IT MUST NOT BE A BIG MARKET. BUT WHAT IS SURPRISING TO MANY PEOPLE IS THAT THAT WEDDING TIME AND THAT MARKET ALONE IS $100 BILLION MARKET IN THE U.S., AND, YOU KNOW, WHERE SOME PEOPLE MIGHT SAY, “OH, YOU KNOW, 18 MONTH IS A SHORT TIME,” WE WOULD SAY, ACTUALLY, IT AUTO’S HIGHLY INTENSIVE, HIGH-SPEND, HIGH STRESS TIME. SO THAT’S A BIG OPPORTUNITY. AND WHEN YOU LOOK AT THE MARKET, EVER OTHER CATEGORY THAT IS FUELED BY MILLENNIAL SPENDING OF THE SAME SIZE, THERE ARE MULTI-BILLION- DOLLAR DISRUPT TORES THAT HAVE EMERGED IN THOSE MARKS TO WIN THOSE CATEGORIES. WEDDINGS IS ONE OF THE ONLY REMAINING CATEGORIES THAT HAS NOT SEEN A DISRUPT TORE EMERGENCY TO TAKE THIS SIZE MARKET. THAT’S WHAT WE FOCUSED ON. >>DOES THAT MOON YOU DON’T HAVE PLANS TO DO THINGS LIKE ZOLA PARENTS OR ANYTHING LIKE THAT? DO YOU THINK THAT WOULD BE THE KIND OF THING THAT WOULD DILUTE YOUR FOCUS TOO MUCH, OR DO YOU THINK THAT’S A NATURAL STEP THE WAY THAT HONEYMOONS IS A NATURAL STOP? >>WE WILL SERVE COUPLES IN THIS LIFE STAGE, AND THE DEFINITION OF THE LIFE STAGE HAS ACTUALLY EXPANDED OVER TIME AS OUR COUPLES HAVE GROWN UP WITH US. SO THE FIRST CO HEART OF COUPLES WITH ZOLA GOT MARRIED IN 2014. >>ARE THEY ON THEIR SECOND WEDDINGS NOW? >>NO. >>THAT’S GOOD. >>BUT MANY OF THEM ARE ASKING FOR US TO CONTINUE HELPING THEM WITH THINGS FOR THEIR HOME OR ELSEWHERE. >>OKAY. >>WE ARE DOING THAT. >>SO YOU WILL PROBABLY, AT SOME POINT, TEND INTO OTHER AREAS? >>MAYBE AT SOME POINT. WE’RE VERY BUSY RIGHT NOW. >>OKAY. THAT’S FAIR ENOUGH. I HAVE TO ASK YOU, BECAUSE I FEEL LIKE, IF YOU’VE GOT ANY ENTREPRENEURS OUT HERE, WHETHER IT’S WEDDINGS OR SOMETHING ELSE, THIS IS ALWAYS THE BIG ELEPHANT IN THE ROOM, IS AMAZON. NOW, I DID A LITTLE RESEARCH. I DIDN’T KNOW IT, BUT APPARENTLY AMAZON HAS A WEDDING SITE. >>YES. >>AND AMAZON, OF COURSE, WANTS TO GET FURTHER INTO TRAVEL. SO THEY ARE PROBABLY GOING TO LOOK AT HONEYMOONS ATTACHED TO THEIR WEDDING SITES, AND BUILD UP THEIR WEDDING SITE. HOW MUCH OF A PROBLEM IS THAT FOR YOU? >>WELL, THEY’VE BEEN IN WEDDINGS AND IN WEDDING REGISTRIES FROM WAY BEFORE WE LAUNCHED ZOLA, AND YET WE’VE STILL SEEN PHENOMENAL GROWTH. WE ARE STILL SEEING A LOT OF COPY CATS, FROM MANY COMPETITORS, COPYING US, AND SO IT KEEPS US MOTIVATED TO STAY AHEAD TO CONTINUE TO INNOVATE IN EACH OF THE PRODUCT LINES THAT WE HAVE. BUT WHAT NO ONE ELSE HAS IS THIS,CO SYSTEM OF ALL THE WEDDING PLANNING PRODUCTS ALL IN THE ONE PLACE THAT TALK TO EACH OTHER. SO, FOR EXAMPLE, IN HONEYMOONS, YOU CAN IMAGINE, IF WE HAVE A REGISTRY WHERE YOU CAN REGISTER FOR SPECIFIC THING ON YOUR HONEYMOON, GUESTS CAN BUY FOR YOU FROM ZOLA. IT CAN FEED INTO YOUR HONEYMOON PURCHASE, AND THEN YOU ARE ON YOUR HONEYMOON. YOU HAVE THAT ITEM. YOU CAN SEND YOUR THANK YOU NOTE VIA ZOLA TO THE PERSON THAT BOUGHT YOU THAT GIFT ALL IN ONE CLICK ON YOUR MOBILE DEVICE. THAT’S SOMETHING THAT IS HARD TO DO, BUT MAGICAL, AND MAKES A TON OF SENSE, AND WE ARE REALLY UNIQUELY POSITIONED TO DELIVER ON THAT VISION. IT’S WITHIN EXAMPLE OF A HUNDRED INTERCONNECTIONS THAT I THINK MAKE US UNLIKE ANY OTHER COMPANY. >>HAS AMAZON EVER TRIED TO ACQUIRE YOU GUYS? >>WE — I CAN’T EVEN SPECK YOU LATE ON THAT RIGHT NOW, BECAUSE WE HAVE A LOT TO DO, AND WE ARE JUST GETTING STARTED. >>YEAH. I KNOW, I DIDN’T ASK IF YOU’D EVER THOUGHT OF THAT. I ASKED IF AMAZON HAD TRY TO ACQUIRE YOU GUYS. >>NO. >>NO THEY HAVEN’T. >>OR NO, DON’T GO THERE, INGRID. >>NO, DON’T GO THERE. >>FAIR ENOUGH. OKAY. I’LL ASK YOU ANOTHER TIME. OKAY. SO HERE’S A QUESTION THAT ACTUALLY MY EDITOR, MATTHEW PANZAR,NO REALLY WANTED TO ABOUT, WHICH I’M QUITE INTERESTED IN, TOO. SO HIS SECRET LIFE BEFORE GOING INTO TECH WAS THAT HE WAS A PHOTOGRAPHER. AS HE POINTED OUT TO ME, IN PHOTOGRAPHY, IT’S — IF YOU’RE LIKE A FOREVER, ABOUT 80% OF YOUR BUSINESS IS ACTUALLY WEDDINGS. SO THAT KIND OF OPENS UP AN INTERESTING AREA. SO YOU GUYS ARE DOING A LOT OF VERTICALLY INTEGRATED STUFF, LIKE YOUR INVITES, LIKE HONEYMOONS. YOU’RE DOING IT, ALL BUILDING IT UP. BUT THERE’S THIS REALLY OBVIOUS WAY OF INTERLINKING WITH SUPPLIERS IN OTHER MARKETPLACES, LIKE PHOTOGRAPHERS. HOW DO YOU SEE STUFF LIKE IN THE? SO WE’RE TALKING ABOUT THIS REALLY IMPORTANT ELEMENT OF THE WEDDING PROCESS, WHICH RIGHT NOW IS PRETTY FRAGMENTED. BUT THAT THE’S REALLY BIG AREA TO START TO MOBILIZE CONTRACTORS. THAT’S TOTALLY OUTSIDE OF WHAT YOU’RE DOING ALREADY. HOW WILL YOU TACKLE THINGS LIKE THAT? AND WOULD YOU WANT TO? >>ABSOLUTELY. AND THIS IS ACTUALLY ONE OF THE THINGS THAT WE HAVE STARTED TO BUILD AND WE CONSIDER IN BETA PHASE RIGHT NOW ON ZOLA, WHERE WE HAVE THE ABILITY TO LET PHOTOGRAPHERS OR WEDDING VENUES OR LOCAL VENDORS THAT SERVE AND HELP COUPLES WITH THEIR WEDDINGS CREATE BEAUTIFUL UNIQUE PROFILES ON ZOLA,EN THEN BE MATCHED TO COUPLES THAT THEY THINK WILL BE MOST APPROPRIATE TO THEM. AND LIKEWISE, THE COUPLES TODAY — YOU KNOW,, WE’VE STARTED PRIMARILY IN NEW YORK AND CHARLOTTESVILLE, BUT COUPLES WHO WANT TO GET MARRIED IN THOSE AREAS CAN GO ON SPECIFY, WHAT TYPE OF VENUE THEY’RE INTERESTED IN, BUDGET PEOPLE, AND GOT JUST A SELECT NUMBER OF MATCHES FOR THE PREFERENCES. >>GREAT. >>SO THAT’S SOMETHING ALSO NO ONE ELSE DOES, AND WE HAVE BEEN EAR TRYING TO INNOVATE AND PUSH THE ENVELOPE. >>YOU’RE DOING MORE LOCALIZED SERVICES, SERVICE PROVIDERS, CONTRACTOR, DATA BASES, AND SO ON. >>YEAH. >>REALLY TOWARDS THE END VISION OF, WE KNOW TODAY, YOU HAVE TO GO TO A HUNDRED DIFFERENT SITES TO TRY TO MATCH ALL THE DIFFERENT TIMES OF VENDORS FOR THAT ONE DAY. YOU WANT TO KNOW REALLY WHAT IS THE SOCIAL NETWORK OF A VENUE OR PHOTOGRAPHER THAT WORKS WELL TOGETHER, AND CAN I SEE EXAMPLES ON Z,LA OF WEDDINGS, AND THEN WE’LL GET RIGHT THERE. >>YEAH. THAT’S VERY COOL. OKAY. WE ONLY HAVE A MINUTE, WHICH ISN’T ENOUGH TIME FOR US TO ASK THIS RATHER LARGE QUESTION. BUT YOU GUYS ARE A NEW YORK START UP. YOU’RE NOT VALUED AT 650 MILLION. YOU’VE RAISED 140, OVER 140 MILLION, WHICH IS ABSOLUTELY IMPRESSIVE. HOW MUCH OF A CHALLENGE WAS IT TO RAISE THAT MONEY, A, BEING OUT OF NEW YORK, P, BEING A WEDDING SITE, C, BEING A WOMAN? >>WELL, I THINK EVERY SINGLE FAN I’VE SPOKEN TO, NO MATTER GENDER OR WHERE THEY LIVE, FUND-RAISING IS CHALLENGING FOR ANYONE,, I THINK,. >>NOT JUST IN NEW YORK. >>NOT JUST BECAUSE OF THE WEDDING. >>AND I THINK — IN THE EARLY DAYS, BEFORE WE HAD SHOWN, YOU KNOW, WE COULD LAUNCH A GREAT PRODUCT THAT PEOPLE LOVED THAT HAD HUGE GROWTH. IT WAS CERTAINLY HARDER, BECAUSE THERE WERE A LOT OF BODIES PURR RID IN THE WEDDINGS CATEGORY. NOW WE’VE SHOWN WE CAN DO SOMETHING IN A CATEGORY THAT NO ONE ELSE HAS BEEN ABLE TO DO, AND PEOPLE ARE VERY EXCITED. >>YOU OF ALSO GOT INTERESTING BACKGROUND, YOUR BACKGROUND WITH THE GUILDEN GROUP AND SO ON. SO THAT PROBABLE HELPED YOU? >>YEAH. WE HAVE HISTORY IN GOOD TIMES, BAD TIMES, AND WE KNOW WHAT TO DO AND WHAT TO AVOID. >>I KNOW. I MEAN, GUILD DEFINITELY NOSE- DIVED. BUT, YOU KNOW, YOU THINK THAT’S THE SORT OF THING THAT SOMETIMES HELPS — WHEN YOU HAVE SOMEBODY WHO’S BEEN THROUGH THAT, YOU THINK ACTUALLY THEY KNOW EXACTLY WHAT NOT TO DO. >>EXACTLY. >>YEAH. THANK YOU SO MUCH FOR YOUR TIME. >>THANK YOU. >>THANKS, EVERYBODY. >>GOOD TALK, GUYS. . OKAY. ON THE EXTRA CRUNCH STAGE, WE HAVE A PANEL ON HOW TO DECIDE BETWEEN BOOT STRAPPING AND RAISING VENTURE CAPITAL. IT SOUNDS STRAIGHTFORWARD. EVERYONE WOULD LOVE TO BOOT STRAP, BUT IT’S ACTUALLY FAR MORE COMPLICATED THAN THAT. IF YOU WANT TO HEAR FROM BEN CHESTNUT, THE COFOUNDER AND CEO OF MAIL CHIMP AND CATHERINE ME TRADITIONALIA, THE PRESIDENT OF CABBAGE, HIT THAT UP AT 4:00. THAT’S WHEN THAT STARTS. >>>BUT NOW ON THE MAIN STAGE, WE’RE GOING TO TALK A LITTLE BIT ABOUT THE FUTURE OF CITIES. PLEASE WELCOME TO THE STAGE THE FORMER GOVERNOR OF MICHIGAN AND CNN COMMENTATOR AND UC BERKELEY PROFESSOR JENNIFER GRANHOLM, AND CEO OF Z,KES AS WELL AS YOUR MODERATOR KRISTEN CORCET. WARM WELCOME, PLEASE. >>ALL RIGHT. >>IF YOU MISSED IT EARLIER, I WAS UP HERE, TALKING ABOUT FLYING CARS. NOW WE’RE GOING TO TALK ABOUT WHAT HAPPENS WHEN YOU PUT THOSE THINGS INTO STILLS. SO THANK YOU SO MUCH FOR JOINING ME, GOVERNOR, AND A,SHA. AS I SAID, WE’RE HERE TO TALK ABOUT THE FUTURE OF TRANSPORTATION, NAMELY AUTONOMOUS VEHICLES, SINCE THAT IS WHAT ZUKES IS DOING, AND ITS RELATIONSHIP WITH CITIES. YOU BOTH HAVE DIFFERENT PERSPECTIVES. YOU KNOW, GOVERNOR, YOU WERE FORMER GOVERNOR OF MICHIGAN, A STATE THAT IS — WAS, AND CONTINUES TO BE ONE OF THE LARGEST EMPLOYERS OF AUTO WORKERS. AND I’M WONDERING, FROM YOUR PERSPECTIVE AND YOUR BACKGROUND, WHO IS THE GOING TO OWN THE FUTURE OF TRANSPORTATION? AND YOU CAN’T SAY Z,KES. IT’S NOT ABOUT NAMING COMPANIES. I’M WONDERING, YOU KNOW, REGION UNTILLY, CITIES, LIKE WHO IS GOING TO OWN THIS SPACE? >>YEAH. I DO KNOW, AND YOU KNOW THIS, TOO, IS THAT YOU REPORT FROM THERE IS THAT THE OEMS IN THE AUTO INDUSTRY ARE THINKING ABOUT THIS REALLY HARD, BECAUSE THERE’S WHAT, 260 MILLION CARS ON THE ROADS RIGHT NOW, BUT ANTICIPATING AUTONOMOUS VEHICLES MEANS THAT THERE’S GOING TO BE A LOT FEWER CARS. MAYBE 45 MILLION CARS. AND WHAT DOES THAT DO FOR THOSE WHO MANUFACTURE CARS, RIGHT? SO THEY BECOME NOT NECESSARILY JUST COMMODITY BUILDERS, BUT SERVICE PROVIDERS. AND THAT’S THE MODEL THEY ARE LOG AT. AND I THINK IT’S PART OF THIS AS A DISRUPT CONFERENCE. THIS TECHNOLOGY IS HUGELY DISRUPTIVE. IT’S DISRUPTIVE FOR THE OEMS, DISRUPTIVE FOR THE OIL INDUSTRY. BUT FOR THOSE VEHICLE MAKERS, THEY HAVE GOT TO GET NOT BEHIND THE TRAIN, BUT AHEAD OF IT. I THINK YOU ARE SEEING IT WITH THE CEOS MAKING THESE CRITICAL INVESTMENTS IN THE TECHNOLOGY THAT WILL ALLOW THEM NOT TO BE JUST BUILDERS, BUT SERVICE PROVIDERS. >>SO DO YOU — BEFORE HAVING USHA WEIGH IN, DO YOU SEE THIS AS DETROIT AND SILICON VALLEY SQUARING OFF AGAINST EACH OTHER RIGHT NOW? >>SEEM TO BE PARTNERING IN A LOT OF PLACES. >>YEAH, YEAH. SO IS THERE — I MEAN, IS THERE A COUNTRY EVEN THAT IS — THAT YOU SEE RIGHT NOW, BASED ON POLICY AND TECHNOLOGY AND DEVELOPMENT, AND HOW MUCH INVESTMENT THEY’RE PUTTING INTO IT, KIND OF SPECIALLY ABLE TO OWN THIS SORT OF FUTURE OF TRANSPORTATION, OR IS IT UP FOR GRABS? >>YEAH. LET ME JUST SAY, FIRST OF ALL, I KNOW THAT MICHIGAN WANTS TO OWN THIS, AND I KNOW THAT SILICON VALLEY WANTS TO OWN THIS, AND SO A GOOD BIT OF HEALTHY COMPETITION IS HAPPENING. BUT REALLY, THE PLACES WHERE THIS IS GOING TO GO FASTEST AND FURTHEST ARE PLACES WHERE YOU’VE GOT PEOPLE LIKE ME, WHO ARE POLICY MAKERS WHO ARE NOT FREAKED OUT ABOUT THE TECHNOLOGY, WHO ARE NOT AFRAID TO EXPERIMENT, WHO ARE NOT AFRAID TO ADOPT POLICIES THAT ALLOW FOR THE TECHNOLOGY TO BE ON THE STREETS. AND SO YOU’LL SEE — AND PLACES THAT WHERE THE LEADERS UNDERSTAND THE SAFETY RAMIFICATIONS, MEANING THAT IF 38,000 PEOPLE DIE EVERY YEAR IN CAR ACCIDENTS, THEN IT WILL BE SO MUCH BETTER THAT THE COST OF GETTING PEOPLE TO WORK WILL BE SO MUCH CHEAPER, THAT IT WILL CREATE A SPACE THAT MAKES THOSE COMMUNITIES SO MUCH MORE ATRACK IF THE TO THE KIND OF TECHNOLOGY WORKERS AND WORKERS IN GENERAL, THAT PEOPLE WANT TO ATTRACT. THOSE KIND OF LEADERS ARE THE PLACES WHERE YOU WILL SEE MUCH MORE RAPIDDED OPTION, AND THEN THE REAL ESTATE WILL FLOW. >>ISHA, DO YOU AGREE, OR ARE WE OVERLOOKING A COUNTRY OR ANOTHER REGION THAT IS ACTUALLY, YOU KNOW, PUSHING THIS AHEAD FASTER THAN SILICON VALLEY AND DETROIT? >>WELL, I MEAN, SOMETHING IS GOING ON IN CHINA. >>FOR SHOWER. >>SO, LOOK, I THINK THAT SILICON VALLEY AND DETROIT, FIRST OF ALL, I DON’T THINK IT’S A COMPETITION. I THINK IT’S A PARTNERSHIP. THERE IS GOING TO BE A VEHICLE MOVING PEOPLE AROUND, WHETHER IT’S FOR MICRO MOBILITY, ALL THE WAY TO A BIG TRANSPORTATION. SO I THINK IT’S A PARTNERSHIP. THERE IS DEFINITELY A LOT GOING ON IN CHINA. NO QUESTIONS ABOUT IT. BUT TRANSPORTATION IS ALSO VERY LOCAL. SO THE WAY YOU HAVE TRANSPORTATION IN THE U.S. VERSUS IN EUROPE VERSUS IN CHINA VERSUS IN INDIA AND OTHER PLACES OF THE WORLD, THE NEEDS YOU’RE TRYING TO SERVE CAN ALL BE DIFFERENT. SO I THINK IT’S ALL PARTNERSHIP, ESSENTIALLY. >>CAN I — JUST TO BUILD ON THIS ISSUE ABOUT CHINA. >>YEAH. >>THIS IS WHY I THINK THE LEADERSHIP IN THIS COUNTRY, WHETHER IT’S AT THIS LOCAL, HYPER LOCAL LEVEL OR THE FEDERAL LEVEL IS SO CRITICAL, BECAUSE THERE’S MASSIVE INVESTMENTS HAPPENING IN CHINA TO MAKE THIS TECHNOLOGY MORE UBIQUITOUS, WHEREAS HERE IT’S ALL BEING LEFT AT THE MOMENT TO THE PRIVATE SECTOR WITH SOME STATES ALLOWING EXPERIMENT STATION, BUT NOT THE FUNDING THAT YOU ARE SEEING AT IN OTHER COUNTRIES. AND SO, YOU KNOW, THAT’S OUR QUESTION AS A NATION. DO WE WANT TO LEAD, OR TO WE WANT TO ALLOW OTHER COUNTRIES TO LEAD AND US JUST FOLLOW? >>SO DOES IT — IS IT — IS IT GOING TO COME DOWN TO MORE GOVERNMENT INVESTMENT? I MEAN, WHAT’S Z,KES’ POINT OF VIEW ON THAT? DO YOU THINK — RIGHT NOW, AS THE GOVERNOR WAS SAYING, IT’S, LIKE, A LOT OF PRIVATE COMPANIES — DOES THE GOVERNMENT HAVE A ROLE IN REALLY PUSHING THIS FORWARD? >>WELL, THERE ARE SEVERAL FORMS OF INVESTMENT. INVESTMENT IS NOT NECESSARILY CASH. >>RIGHT. >>IN TERMS OF REGULATORY PROCESS, IN TERMS OF PERMITTING, IN TERMS OF INFRASTRUCTURE. CITIES ARE GOING TO BE — I THINK THERE IS THIS VIEW THAT THE WAY THE CITIES ARE NOW, PEOPLE ARE DRIVING IN THEM. NOW, ALL OF THE SUDDEN, YOU’RE GOING TO HAVE SELF-DRIVING CARS, AND EVERYTHING IS GOING TO BE THE SAME. WE DON’T LOOK AT MOBILITY AS A SERVICE THROUGH AUTONOMY THE SAME WAY. WE THINK CITIES ARE GOING TO BE DIFFERENT. I MOON, TODAY, 1/3rd IF THE TIME IS SPENT LOG FOR PARKING. THAT’S A CONTRAST ELEMENT. IF YOU HAVE LESS VEHICLES, YOU’RE IN THE GOING TO HAVE THAT PROBLEM. SO THEN WHAT HAPPENS? ALSO THERE’S A LOT OF THESE AS THE TODAY, PASSENGER CARS. THEY’RE ONLY ACTIVE 4% OF THE TIME, WHICH MEANS 96% OF THE TIME THEY ARE PARKED SOMEWHERE, AND DEPRECIATING. SOMEWHERE IS A PHYSICAL LOCATION. SO IS OUR BUILDINGS. WHAT HAPPENS TO THOSE BUILDINGS? TODAY, WHEN YOU’RE PLANNING YOUR CITY, YOU’RE LOOKING AT PARKING LANES, AND BY THE WAY, THE LOCAL AUTHORITIES, THE LOCAL AGENCIES MAKE MONEY OFF OF THAT. SO HOW IS THE MONEY FLOW AND THE MONEY DISTRIBUTION GOING TO CHANGE? HOW DO YOU INTEGRATE PUBLIC TRANSPORTATION, MEANING THE LAST MILE AND ALL OF THE SHUTTLES THAT ARE GOING AROUND. SO I THINK THAT ENTIRE TRAN FORMATION IN TERMS OF WHAT CITIES LOOK LIKE IS GOING TO CHANGE, AND WHEN YOU WALK BACK WARDS, GOVERNMENTS AND LOCAL AUTHORITIES AND AGENCIES WILL HAVE TO MAKE ADJUSTMENTS. AND THAT’S WHAT I CALL THEIR PART OF THE INVESTMENT. >>OKAY. SO WE HAVE, LIKE, 17 MINUTES TO SOLVE ALL OF THOSE PROBLEMS. >>ALL RIGHT. LET’S GO. >>MAYBE WE SHOULD HAVE A HACK AT HON FOR THAT. SO THE ONE THING I’VE NOTICED A LOT IN MY REPORTING ON AUTONOMOUS VEHICLES IS THERE IS A TENDENCY TO SORT OF LOOK AT THINGS THIS HIKE UTOPIAN LENS, WHERE ALL THE PARKING LOTS ARE GOING TO TURN INTO PARKS, AND, YOU KNOW, THEIR — THE VISION IS ZERO. THERE WON’T BE ANY MORE CAR CRASHES, ANY MORE FATALITIES. BUT HERE’S THE THING. PEOPLE IN CITIES, AS YOU WERE TALKING ABOUT, YOU KNOW, WHO LIVE IN CITIES ARE WORKING IN CITIES. SO THESE PEOPLE WILL THE LOWER BE PART OF BUILDING THIS FUTURE OF TRANSPORTATION, OR THEY WILL BE DISPLACED BY IT. AND I’M WONDERING, GOVERNOR, FOR YOU FIRST, I MEAN, WHAT DO YOU SAY TO THOSE WORKERS? THOSE WORKERS WHO ARE POSSIBLY GOING TO BE DISPLACED? AND I THINK, RIGHT NOW, IT’S PARTICULARLY INTERESTING, BECAUSE WE’RE AT, WHAT, DAY 16 OF THE UNITED AUTO WORKERS STRIKE. >>NO. THIS IS SUPER IMPORTANT QUESTION. SO THERE ARE 0 MILLION PEOPLE IN THE COUNTRY THAT MAKE THEIR LIVING DRIVING, RIGHT? WHO ARE FREAKED OUT ABOUT THE NOTION OF THIS. AND NOT TO MENTION THE PEOPLE IN THE INSURANCE INDUSTRY THAT MIGHT — THE AUTO INSURANCE INDUSTRY THAT MIGHT BE FREAKED OUT ABOUT IT. OR THE PEOPLE IN THE AUTO FINANCE INDUSTRY, THE PEOPLE IN THE SHOPS THAT ACTUALLY DO REPAIRS OR THE DEALERSHIPS. THERE’S A WHOLE ECOSYSTEM OF PEOPLE THAT COULD BE DISRUPTED BY IT. BUT HERE’S WHAT I LIKE TO SAY TO PEOPLE. I MEAN, IF YOU’RE BULLISH ON THE TECHNOLOGY, THEN LOCK AT — THERE WAS A PROFESSOR NAMED JAMES BESSUM, WHO DID A STUDY OF ALL — OF 317 PROFESSIONS WHERE TECHNOLOGY HAD BEEN INTRODUCED, AND TO FIND OUT HAD THE TECHNOLOGY DISPLACED PEOPLE OR HAD IT THE TECHNOLOGY ACTUALLY INCREASED EMPLOYMENT. AND OF THE 317 PROFESSIONS, THERE WAS ONLY ONE PROFESSION THAT ACTUALLY WENT AWAY AS A RESULT OF TECHNOLOGY. ALL OF THE REST HAD EMPLOYMENT INCREASE, BECAUSE YOU CAN’T IMAGINE WHAT THE ECOSYSTEM WILL CREATE WHEN YOU HAVE THIS NEW TECHNOLOGY. THE ONE PROFESSION THAT WANT AWAY WAS ELEVATOR OPERATOR. BUT THE REAL ESTATE OF THESE PLACES, EVEN LIKE ATMS, THE BASIC, THE TAM EMPLOYMENT INCREASED FOR TELLERS AS A RESULT OF THE INVESTMENT IN A TMS. YOU JUST DON’T KNOW WHAT IS GOING TO HAPPEN IN THE ECOSYSTEM, BUT YOU CAN IMAGINE THAT THERE IS ALL SORTS OF REALLY INTERESTING APPLICATIONS FOR AUTONOMOUS VEHICLES, BUT THE REAL QUESTION IS, WHAT DO YOU DO WITH THE PEOPLE WHO ACTUALLY DON’T HAVE A SKILL NECESSARY TO CODE OR TO BE PART OF THE TECHNOLOGY COMPONENT OF THIS? HOW DO YOU MAKE THIS WORLD AVAILABLE TO THEM? AND THAT’S WHY THE POLICY FRAMEWORK HAS TO BE SET UP IN A WAY THAT ALLOWS PEOPLE TO THRIVE. AND RIGHT NOW, ALL WE’VE GOT IN THE U.S. ARE THESE OLD, 20th CENTURY RETRAINING PROGRAMS THAT TIME AFTER TIME, STUDIES HAVE SHOWN DON’T WORK. THE INVESTMENTS IN OLD-TIME TRAINING DO NOT WORK. THE INVESTMENTS IN TECHNOLOGY- BASED TRAINING, MONDAY EVENING YOU TAKE SOMEBODY WHERE THEY ARE AND YOU USE ARTIFICIAL INTELLIGENCE AND MACHINE LONGER TO BRING THEM TO A NEW LEVEL, WHERE THEY DON’T HAVE TO GO SIT IN A COMMUNITY COLLEGE, AND THEY’RE — YOU KNOW, WHETHER THEY’RE YOUNG AND THEY DON’T WANT TO GO TAKE TRIGONOMETRY ORER THEY ARE OLDER AND HAVE BEEN DISPLACED AND DON’T WANT TO SIT NEXT TO AN 18-YEAR-OLD AT A COMMUNITY COLLEGE. YOU CAN HAVE TRAINING THAT RESPECTS WHERE PEOPLE ARE BASED UPON TECHNOLOGY AND TAKES THEM TO THE NEXT LEVEL. WE JUST HAVEN’T THOUGHT ABOUT THE POLICY RAMIFICATIONS OF INVESTING IN THAT AS A NATION, AND THAT TO ME, HAS TO BE DONE IN TANDEM WITH DISPLACING KINDS OF TECHNOLOGY. PLUS WE ALSO HAVE TO BE REMINDED THAT TECHNOLOGY IS A TOOL AND CAN BE USED TO ENHANCE SKILLS. WE ARE ALL CYBORGS ALREADY, BECAUSE WE ALL HAVE CELL PHONES. SO THIS IS A TOOL AS WELL. DOESN’T HAVE TO REPLACE. IT CAN ENHANCE SKILL. >>>WE’RE FINDING OUT HUMAN BEINGS ARE UNDERRATED. WE HAVE METHODOLOGIES FOR THAT. I THINK JESSE TALK EARLIER ABOUT TELEOPERATION, WHICH IS NEW JOB. IT IS LITERALLY A NEW CLASS OF JOB, WHERE THE FOUNDERS ARE A SITUATION, WHERE IT DOESN’T KNOW WHAT TO DO, AND IT AUTONOMOUSLY SAYS BACK TO THE TELI CENTER. THERE’S A CONSTRUCTION ZONE THAT I DON’T KNOW HOW TO DEAL WITH, OR I’M GOING TO HAVE TO BREAK A RULE RARELY. DO I HAVE PERMISSION TO DO THAT. ON THE OTHER SIDE OF THAT ARE TECHNICIANS THAT ARE LOOKING AT THE PERCEPTION OUT PUT, AND SAY, “YES, YOU HAVE PERMISSION TO DO THIS,” OR, “HERE’S A NEW TRAJECTORY FOR YOU,” THOUGH THE VEHICLE IS TOTALLY IN CONTROL. THAT’S NEW CLASS OF JOB. CALL IT THE CALL CENTER OF THE FUTURE. SEC OF ALL, THESE VEHICLES DON’T HAVE A MIND OF THEIR OWN. THEY HAVE TO BE CHARGED. THEY HAVE TO BE CLEANED. THERE HAS TO BE A FLEET MANAGEMENT SYSTEM ON TOP OF THEM. SO I BELIEVE THAT THERE WILL BE MANY MORE TIMES OF JOBS THAT WILL COME TO BEAR, AND THAT WILL BE ESSENTIALLY THE DISPLACEMENT. WE ALSO HAVE CASES RIGHT NOW WHERE WE HAVE SAFETY DRIVERS AND A SOFTWARE OPERATOR, AND WHAT HAPPENS IS SOME OF THESE SOFTWARE OPERATORS ARE LIKING THE TECHNOLOGY, UNDERSTANDING MORE. IN SOME CASES, EVEN GETTING MORE EDUCATION, OR JUST ASKING FOR A TRANSFER INTO THE SOFTWARE TEAM, WHERE THEY ENTER THROUGH QA, AND HAVE A CAREER PATH GOING FORWARD. SO WE SHOULD TALK ABOUT THE JOBS THAT WILL BE CREATE 0, THE OPPORTUNITIES, AND YES, TRAINING AND ALL THOSE THINGS. BUT AS SHE SAID EARLIER, IT IS VERY RARE THAT TECHNOLOGY DISRUPTS AND DISPLACES IN A WAY THAT IT’S NEGATIVE FROM A JOB PERSPECTIVE. AND IN TERMS OF SPACE, I REALLY WANT TO TALK ABOUT THIS. YES, SOME OF THE PARKINGINGS WILL BE PARKS. I GET THAT. BUT YOU KNOW WHAT? I THINK WE ALL KNOW THE HOUSING CRISIS IN MOST OF THESE CITIES. THERE’S AN OPPORTUNITY THERE. WITH ALSO KNOW THAT THIS IS AND OPPORTUNITY FOR MORE ENTERPRISE TO COME INTO THE CITIES. AND CATEGORY 3, THAT’S MORE — THAT PROVIDES AND OPPORTUNITY FOR MORE JOBS. SO IT’S NOT JUST GONG BE ALL PARK AND GREEN, AND EVERYBODY’S GOING TO HAVE MORE FUN. I THINK YOU’LL SEE A NEW LEVEL OF INFRASTRUCTURE BEING BORN, AND THAT WILL BRING OPPORTUNITY. >>SO I DON’T KNOW IF EITHER OF — MAYBE YOU CAN SPEAK SPECIFICALLY TO ZUKES, AND, GOVERNOR, MAYBE THROUGH SOME OF YOUR POLICY RESEARCH, YOU MIGHT HAVE THIS NUMBER, BUT FOR ZUKES, WHERE ARE THESE FOLKS COMING FROM WHO ARE TAKING THESE JOBS, THESE NEW KIND OF JOBS, TELE COME OPERATION? WHAT IS THEIR BACKGROUND? DO YOU HAVE ANY SENSE OF HOW MANY — WHAT PERCENTAGE OF THE COMPANY IT’S BECOME? I MEAN, IS IT GOING TO BECOME THE SERVICE SIDE, FOR EXAMPLE? IS THAT GOING TO BE BECOME THE LARGER PIECE OF Z,KES EVENTUALLY? AND I WONDER HOW THAT APPLIES TO THE REST OF THE INDUSTRY. I MEAN, HAS THERE BEEN ANY RESEARCH TO GIVE US AN INDICATION OF WHAT THAT JOB OPPORTUNITY IS? THESE SERVICE-RELATED JOBS, TELLER OPERATION JOBS, MAYBE NOT THE ENGINEERING JOBS THAT WITH OFTENTIMES FOCUS ON. >>UH-HUH. SO — I MEAN SOME OF THEM ARE COLLEGE OPERATED, COLLEGE GRADUATE, SORRY. NOT NECESSARILY IN THE TECHNICAL FIELD, BY THE WAY. AND THEN — BUT AS THEY ARE ON THE JOB, THEY LEARN MORE, FOR THOSE WHO PROGRESS TO QA AND OTHER DISCIPLINES. ABOUT 0% OF ZULES MAKES IT, MONDAY EVENING THEY LIVE SAN FRANCISCO. AND THAT INCLUDES ATTRITION AND EVERYTHING. WE ARE STILL AT AN EARLY STAGE OF TESTING. YOU CAN IMAGINE, IF YOU HAVE THOUSANDS AND THOUSANDS OF VEHICLES, THE OPERATION AROUND THAT. FOR ZUKES, THAT’S WHEY CALL SUCCESS. THAT MEANS THAT CAN EASILY OVERTAKE YOUR R AND D ORGANIZATION IN TERMS OF JUST SHEER NUMBERS. >>CAN YOU IMAGINE — I MEAN, HERE WE ARE IN AN ENVIRONMENT WHERE THERE COULD BE DISPLACE. WITHOUT THE RIGHT GUARD RAILS, RIGHT? AND SO THE QUESTION IS, HOW DO YOU PROVIDE THE RIGHT CARROTS AND STICKS FOR PEOPLE BOTH TO HAVE AN ENTRY-LEVEL JOB AND HAVE PERHAPS THAT JOB PARTIALLY SUBSIDIZED BY THE GOVERNMENT UNTIL IT’S DERISKED ENOUGH THAT THE EMPLOYER AND THE EMPLOYEE CAN DECIDE THEY WANT TO MAKE THIS A PERMANENT RELATIONSHIP. SO RIGHT NOW, WE PAY — YOU ALL PAY AS TAXPAYERS FOR UNEMPLOYMENT. WHAT IF WE SUBSIDIZED EMPLOYMENT RATHER THAN UNEMPLOYMENT? WE FLIPPED THE SCRIPT ON THAT. WHAT IF WE THOUGHT OF LEARNING AS NOT JUST SEAT TIME, YOU KNOW, BUT IT’S MUCH MORE ACTIVE THING. WHAT IF WE HAD LIFE-LONG LEARNING ACCOUNTS IN ADDITION SOCIAL, SO IN THE PEOPLE CAN ACTUALLY UP SKILL THEMSELVES? WHAT IF WE TRAINED YOUNG PEOPLE, NOT JUST, YOU KNOW, ON YOUR A, B, CS, BUT HOW TO — HOW TO DO THE THINGS THAT AU AND ROBOTS CANNOT DO, HOW TO COLLABORATE, HOW TO LEAD, HOW TO WORK IN GROUPS. WE DON’T TEACH THAT KIND OF STUFF, BUT WITH THIS KIND OF TECHNOLOGY, THERE IS A MOMENT FOR US TO THINK ABOUT HOW WE LEARN AS HUMAN BEINGS THROUGHOUT LIFE. >>WELL, DO YOU THINK THAT CAN WORK EVEN IN MICHIGAN, WHERE RIGHT NOW, THERE ARE 48,000, YOU KNOW, UNITED AUTO WORKERS ON STRIKE? THAT THOSE SPECIFIC PEOPLE, RIGHT, CAN WE TRANSITION THEM TO OTHER JOBS SO THEY CAN HAVE THAT SAME SORT OF LIFESTYLE THEY’VE BEEN ABLE TO HAVE? >>THIS IS THE QUESTION, RIGHT? BECAUSE YOU’VE GOT PEOPLE WHO HAVE BEEN WORKING ALL OF THEIR CAREERS IN A REALLY GOOD PAYING JOB, POSSIBLELY. MAYBE NOT AS WALL AS IT WAS BEFORE THE RECESSION, BECAUSE THESE AUTO WORKERS GAVE A HUGE AMOUNT OF CONCESSIONS IN ORDER TO KEEP THE COMPANIES AFLOAT. BUT THE BOTTOM LINE IS, THEY JUST WANT A GOOD JOB, AND THEY’RE REALLY PROUD OF BUILDING. SO WHAT ARE THOSE NEW JOBS INSIDE THAT THEY CAN BE TRAINED FOR, AND WHAT IS THE ROLE OF THE UNION, FOR EXAMPLE? THE UNITED AUTO WORKERS, MAYBE THEY BECOME THE BROKERS OF GREAT SKILL, OF THE SKILL THAT’S NECESSARY. MAYBE THEY BECOME A TRAINING PARTNER WITH THE COMPANY TO MAKE SURE THAT PEOPLE ARE NOT JUST MOVED OUT, BUT THAT THEY LEARN THE SKILLS THAT ARE NECESSARY TO MAKE BOTH THE VEHICLES AND THE SERVICE SIDE OF THIS NEW DISRUPTIVE THRUST TO WORK. SO TO ME, WE STILL HAVE A VERY 20th CENTURY MIND SET ABOUT THIS, AND WE NEED TO — ALL PORTIONS OF IT NEED TO THINK ABOUT WHERE IS — WHERE IS THE PUCK GOING, AS THEY SAY. WHERE ARE WITH GOING, AND HOW CAN WE BUILD A SYSTEM AROUND THAT TO MAKE SURE EMPLOYEES ARE SAFE. THE OTHER THING I WOULD SAY, THERE’S A LOT OF TALK IN SILICON VALLEY ABOUT THE UNIVERSAL BASIC INCOME, AND THAT IS SOMEHOW GOING TO BE THE SOLVE FOR EVERYTHING. ANDREW YANG HAS CERTAINLY BEEN TALKING ABOUT THAT ON THE PRESIDENTIAL TRAIL. YOU KNOW, WHETHER IT’S A UNIVERSAL BASIC INCOME OR WHETHER WE THINK ABOUT, YOU KNOW, DATA AS SUPPLY TO THE PLATFORMS AND GET PAID FOR — COMPETED FOR DATA, WHICH A LOT OF PEOPLE ARE TALKING ABOUT, SOME WAY, WE’VE GOT TO MAKE SURE THAT INEQUALITY IS NOT EXACERBATED BY THE TECHNOLOGY, AND THAT, AGAIN, REQUIRES SOME POLICY GUARD RAILS TO MAKE SURE THAT WE ALL MOVE FORWARD TOGETHER. >>. >>SO YOU WERE SAYING THE 2th CENTURY. LET’S TALK ABOUT THE 21st CENTURY FOR A MOMENT. MAYBE NOT IN TOO DISTANT OF A FUTURE. SO RIGHT NOW, Z,KES HAS WHAT? ABOUT 30 RETRO FITTED VEHICLES IN ITS FLEET. SO I’M WONDERING, DO YOU THINK THAT OUR CITY IS PREPARED FOR THE DAY WHEN THERE ARE HUNDREDS OF ZUKES VEHICLES. POTENTIALLY LOT IF OTHERS. IS SAN FRANCISCO PREPARED FOR THAT, AS AN EXAMPLE? >>YES, BECAUSE THERE ARE ROADS, AND I MEAN, SOMETIMES WE NEED TO BACK UP THE BOAT A LITTLE BIT. WE’RE TALKING ABOUT TRANSPORTATION. THE SAME WAY AS FEWER PEOPLE WENT TO HORSES AND CARRIAGE, AND WITH THE PASSENGER CAR. THERE ARE ROADS TODAY, THE PEOPLE ARE DRIVING ON. HOWEVER, IT WILL HAVE TO BE AN EVOLUTION ON THE INFRASTRUCTURE, MAYBE LESS GAS STATION, WORK CHARGING STATIONS. THE PARTNERSHIP AND I TALKED ABOUT EARLIER, PARKING IN PARTS AND JOBS, BUT I BELIEVE IN THE HUMAN SPIRIT, AND I BELIEVE IN CITIES, WE HAVE GONE THROUGH THESE TRANSFORMATIONS MANY TIMES. AND NOTHING BAD HAPPENED. WE FIGURED IT OUT. >>IT WOULD BE VERY CHAOTIC, TO BE FAIR. A LESS TECHNOLOGICALLY ADVANCED WAY OF MOBILITY, SCOOTERS IS APPENDED PARTS OF THE CITY. AND CITIES ARE FIGURING OUT THAT THERE IS A TIME WHERE IT WAS CRAZY. >>THERE WOULD BE WAYS. WE WOULD FIGURE THEM OUT. >>IN YOUR VIEW THERE SHOULD NOT BE SPECIAL LANES FOR AUTONOMOUS VEHICLES. THEY SHOULD INTERACT WITH THE WAY THE CITY IS CONSTRUCTED TODAY? >>OUR VIEW AT ZOOX IS IF WE REQUIRE THE CITY OR SO TO THE TRANSFORMATION, TRANSPORTATION SYSTEMS TO DO IT DIFFERENTLY, FOR A VEHICLES OPERATE AND FOR OUR SERVICE TO BE LAUNCHED THEN WE HAVE FAILED. ONE IS TO FIRST INTEGRATE THE EXISTING INFRASTRUCTURE. I DO BELIEVE THAT OVER TIME, IT WILL TAKE DECADES. THIS IS THE MORE EFFECTIVE AND EFFICIENT WAY TO TRANSPORT PEOPLE. AND IT IS ALSO ON-DEMAND AND AS NEEDED. WE MAY SEE PROBABLY IN THE NEXT, COUPLE OF DECADES, SOME PARTS OF SOME CITIES WHERE IT WILL BE AUTONOMOUS ONLY. IT WOULD BE BECAUSE WE EARNED IT. NOT BECAUSE WE NEEDED IT TO OPERATE. >>DO YOU THINK IN TERMS OF, WHAT IS THE BALANCE BETWEEN FREE-MARKET AND THE POLICYMAKERS JUMPING IN. FOR EXAMPLE, RIGHT NOW LET’S SAY WE’RE GOING TO DEPLOY THOUSANDS AUTONOMOUS VEHICLES, SHOULD THERE BE RULES IN PLACE AND POLICIES THAT ENCOURAGE THROUGH INCENTIVES OR REGULATE, COMPANIES LIKE ZOOX, ANY OF THE OTHER ONES THAT POP UP. TO MAKE SURE THEY ARE GOING TO UNDERSERVED AREAS FOR EXAMPLE. >>TO ME, YOU THOUGHT ABOUT THIS, ABOUT NOT PUSHING FOR CHANGE BUT OPERATING IN THE EXISTING ENVIRONMENT IS SUPERSMART. ON MY SITE, I WOULD SAY, SMART LEADERSHIP, ON THE CITY SIDE, WOULD BE TO MAKE SURE WE HAVE, WE RETHINK THE CURVE. AND WE RETHINK THE CURB IN THE PARKING STRUCTURE. THAT WE REPURPOSE PEOPLES, WE INCENTIVIZE THE REPURCHASING OF PEOPLE’S GARAGE IS. WHICH THEY WON’T NEED ANY MORE. ACCESSORY DWELLING UNITS. AND ALL OF THAT. WE NEED TO THINK ABOUT THE POLICY RELATED TO THAT. I THINK THIS IS TRUE FOR THE VEHICLE, I THINK IT IS TRUE FOR THE HUMAN. AS WELL IN TERMS OF MAKING SURE PEOPLE ARE ABLE TO BE BROUGHT ABOUT QUICKLY. I FORGOT THE PREMISE OF YOUR QUESTION. DID I ANSWER IT? >>MAYBE SHOULD JUMP IN HERE, TALKING ABOUT UNDERSERVED BUT ALSO JUST BECAUSE WE ARE ABOUT TO RUN OUT OF TIME, TO ADDRESS PEOPLE’S WITH DISABILITIES BECAUSE ONE THING OCCURRED A TON OF EVERY SINGLE AUTONOMOUS VEHICLE COMPANY TALKS ABOUT, PEOPLE RELATED TO AUTONOMOUS VEHICLES TALK ABOUT THIS ABILITY FOR THESE VEHICLES TO SERVE PEOPLE WHO ARE MISSING OUT, WHO DO NOT HAVE LICENSES, WHO ARE WHEELCHAIR-BOUND FOR EXAMPLE. I AM WONDERING WHAT ZOOX’S PLAN IS FOR THAT. AND YOUR VIEW ON, SHOULD FREE- MARKET BE PUSHING, ALLOW THIS TO JUST HAPPENED? OR IS THERE A ROLE FOR POLICY TO ENCOURAGE THROUGH INCENTIVES, OR THROUGH REGULATIONS, TO SERVE THIS MARKET? >>A LOT AND 20 SECONDS. THE UNIT YANG, I TRULY BELIEVE, UNIT YANG, THE CITIES AND AUTHORITIES WILL ADJUST. AND IT WILL KEEP GOING LIKE THAT. IN TERMS OF UNDERSERVED COMMUNITIES, THEIR TWO QUESTIONS IN THEIR. OUR VEHICLES ARE NOT GOING TO, AS LONG AS IT IS PHYSICALLY POSSIBLE TO GET SOMEWHERE, WE WILL BROADEN THE POSSIBILITY OF MOVEMENT, AND THEREFORE THAT WILL BRING ACCESS. INTERNS, PEOPLE WHO DO NOT HAVE A DRIVERS LICENSE, TEENAGERS, BY CHOICE, BUT FOR PEOPLE WHO CAN’T SCOTT MAY NOT BE OUR FIRST ORDER OF THINKING. WE ARE THINKING OF ALL CLASSES AND ALL TYPES OF PEOPLE WHO CAN’T DRIVE AND WHY THEY CAN’T AND WHAT DO WE NEED TO DO TO SERVE THEM. THE FIRST ORDER OF BUSINESS IS A CITY WITH INFRASTRUCTURE, WITH THE DEMAND THAT EXISTS ALREADY AND GO FROM THERE. EXPECTED A YOU ACTUALLY ANNOUNCED YOU’RE GOING TO BE GOING INTO LAS VEGAS. THAT IS YOUR SECONDARY MARKET. IN CLOSING, GOVERNOR, DO YOU THINK THAT THE ROAD IS A MIX OF POLICY AND TECHNOLOGY? >>TECHNOLOGY? YES. ABSOLUTELY. AND I THINK THE POLICY WILL ADDRESS THE UNDERSERVED COMMUNITY BUT I ALSO THINK THE TECHNOLOGY IS SO DISRUPTIVE IT WILL BRING DOWN THE COST OF TRANSPORTATION SO MUCH YOU WILL SEE EMPLOYERS FOR EXAMPLE GIVING SUBSCRIPTIONS TO THEIR EMPLOYEES WHO MAY COME FROM UNDERSERVED COMMUNITIES TO BE UP TO GET TO WORK THROUGH THE SERVICE PROPONENT OF THINGS BECAUSE THEY HAVE TO PAY FIVE CENTS A MILE IS ALMOST FREE AS OPPOSED TO SIX DEVICES PER MILE WHICH IS WHAT WE PAY RIGHT NOW. THE TECHNOLOGY IS SO DISRUPTIVE IT WILL BE INTERESTING TO SEE HOW MUCH POLICY INTERVENTION YOU NEED. >>WE COULD KEEP TALKING BUT WE HAVE TO GO. IS JORDAN IS STARING AT ME OVER THERE. THANK YOU SO MUCH. >>THANK YOU. >>[ APPLAUSE ] >>THANK YOU SO MUCH. IT’S A TRANSLATION WE HAVE TO GET THINGS RUNNING ON TIME, RIGHT FOLKS? >>COOL, JORDAN. >>I WAS GIVEN CONTRADICTORY ADVICE, WE HAVE TO DO A CHAIR CHANGE AND ALSO WE ARE RUNNING LATE SO BE REALLY QUICK. HEARS ME VAMPING AND BEING QUICK AT THE SAME TIME. BECAUSE I’M SO SKILLED AT EMCEEING. NOT REALLY. IT’S PRETTY DIFFICULT IN TODAY’S UNIVERSE TO THINK OF A BUSINESS THAT CAN BOTH DO GOOD FOR THE WORLD, AND ALSO TURN A PROFIT. IT’S NORMALLY ONE OF THE OTHER. AND OUR NEXT GUEST HAS MADE IT HIS GOAL TO DO BOTH AT ONE TIME. SO TO LEARN A LITTLE BIT MORE ABOUT THAT, I WOULD LIKE US TO PLEASE WELCOME TO THE STAGE THE CHAIRMAN AND CO-CEO OF SALESFORCE, AND YOUR MODERATOR, A SLOW CLAP FOR THEM TO FINISH THE CHAIR CHANGE. >>WELCOME WELCOME. >>LET’S CHAT ABOUT A FEW THINGS HERE. A COUPLE THINGS TO TALK ABOUT, YOU HAVE A NEW BOOK THAT IS COMING OUT SOON CALLED TRAILBLAZER, I HAD MY SISTER PUT THESE IN SO IT LOOKS LIKE I DID MY HOMEWORK. I ACTUALLY READ IT. I READ IT AND ENJOYED IT. LET’S TALK ABOUT LOTS OF THINGS IN THERE, ONE OF THE THINGS I MOST CARE ABOUT TO START OFF WITH, I THINK MANY PEOPLE IN THE ROOM ARE EITHER IN THE PROCESS OR HAVE RAISED MONEY, IS BEEN ABOUT 20 YEARS, SINCE IT HAD TO RAISE MONEY. HOW DO YOU THINK THE ENVIRONMENT HAS CHANGED? >>I THINK IT IS CHANGING. WHEN WE WERE RAISING MONEY NO ONE WOULD GIVE US MONEY. THAT WAS DIFFICULT. WE RACED AT ALL PRIVATELY THROUGH INDIVIDUALS. I WAS LUCKY THAT I HAD SOME RICH FRIENDS. IF I DID NOT, I WOULD NOT HAVE BEEN ABLE TO GET THE COMPANY GOING. NO ONE ON SANTA ROSA GIVE ME ANY MONEY. >>WHAT DID THEY WERE THESE ESCADA? >>I THINK THEY DID NOT UNDERSTAND THIS INCREDIBLE OPPORTUNITY FOR CLOUD COMPUTING. THEY DID NOT SEE THIS WOULD BE A COMPANY WITH 45,000 EMPLOYEES AND MORE THAN $100 BILLION MARKET CAP. TOP-FIVE SOFTWARE COMPANY, THEY COULD NOT SEE IT. THAT WAS AN AMAZING MOMENT IN TIME. WHERE I WAS GOING IN AND OUT OF THESE VENTURE CAPITALIST OFFICES, WITH NO ENERGY, NEW DEAL, THE OPPORTUNITY. AND I FOUND FRIENDS OF MINE, IN SAN FRANCISCO, AND JAPAN, AND IT WAS PRIVATE MONEY. >>IF YOU THINK BACK TO THAT TIME VERSUS, SHORTLY THEREAFTER, YOU GOT YOUR MONEY AND WENT INTO, WHAT IS YOUR PRIMARY GOAL? AFTER IT WAS SO HARD TO RAISE MONEY. WHAT WAS YOUR FIRST PRIMARY GOAL? >>I THINK FOR US, WE HAD A VISION THAT WAS THREE THINGS. WE WANTED TO BUILD A NEW TECHNOLOGY MODEL, NOW WE CALL THE CLOUD, TOO, WE HAVE A NEW BUSINESS MODEL WHICH IS OF SCRIPTURE SHOULD, AND ORIENTATION AROUND THE CUSTOMER. THAT WAS VERY DIFFERENT. TWO DECADES AGO. AND THREE, WE HAD AN IDEA THAT YOU COULD IMMIGRATE A SET OF VALUES INTO OUR BUSINESS, THAT OUR VALUES WOULD CREATE VALUE. THAT WE WOULD TAKE THIS ONE 11 MODEL, THAT I’D COME UP WITH, 1% OF EQUITY, 1% OF ALL OF OUR PRODUCT, 1% OF ALL OF OUR EMPLOYEES TIME, AND IT WAS EASY BECAUSE WE HAD NO EQUITY IN A PRODUCT, NO EMPLOYEES, BUT TODAY, WE HAVE DONE 4 MILLION HOURS OF VOLUNTEERISM, GIVEN AWAY ONE THIRD OF THE BILLION DOLLARS, WE HAVE ALSO RUN 45,000 NONPROFITS AND NGOS ON THEIR SERVICE FOR FREE. ABOUT $1 BILLION A PRODUCT HERE. IT WAS A SEGUE INTO A DIFFERENT TYPE OF BUSINESS FOR US. AT THAT POINT WE REALIZED THAT OUR BUSINESS WAS REALLY MORE THAN JUST ABOUT A SHAREHOLDER RETURN. THAT OUR BUSINESS WAS BECOMING ABOUT A STAKEHOLDER RETURN. BUT YES, WE HAVE THESE INCREDIBLE INVESTORS, PEOPLE WHO HAVE GIVEN US MONEY, THAT HAVE THIS GREAT RETURN, SINCE WE WENT PUBLIC IN 2004 WE HAVE HAD A 3000 PLUS PERCENT RETURN. IT HAS BEEN A VERY GOOD RETURN. BUT WE’VE ALSO HAD AN EXCELLENT STAKEHOLDER RETURN AS WELL. WE BEEN ABLE TO GIVE TO OUR PUBLIC SCHOOLS, WE’VE BEEN ABLE TO SUPPORT OUR EMPLOYEES AT SCALE. THE THINGS THAT WE DO AS AN ORGANIZATION, WE REALIZE IT IS MORE THAN JUST OUR STAKEHOLDERS, SHAREHOLDERS, IT’S OUR EMPLOYEES, CUSTOMERS, IT’S OUR PARTNERS, IF YOU ARE IN SAN FRANCISCO AND YOU ARE THE LARGEST EMPLOYER, LIKE WE ARE, IT IS ALSO GOING TO BE ABOUT THE HOMELESS. YOU CAN SEE THAT WHEN WE WALK IN HERE, DOWN THE STREET, YOU ARE LOOKING INTO THE EYES OF THOSE PEOPLE WHO ARE ON THE STREET WHO, THEY HAVE TO BE ONE OF MY KEY STAKEHOLDERS. THAT IS WHY WE FOUGHT SO AGGRESSIVELY FOR PROPOSITION C. >>YOU MENTIONED THAT. >>THAT IS VERY IMPORTANT TO US. WHO ARE YOUR KEY STAKEHOLDERS? YES IT IS GOING TO BE THOSE PUBLIC SCHOOLS, IT IS GOING TO BE THE WOMEN INSIDE YOUR ORGANIZATION. THEY ARE GOING TO BE A KEY STAKEHOLDER THAT’S WHY WE FIGHT FOR EQUAL PAY FOR EQUAL WORK. THAT IS WHY THAT IS SO IMPORTANT TO US. IT COULD BE FOR OUR LGBT QUEUE EMPLOYEES, THAT IS WHY WE WENT TO INDIANA. IN ALL CASES WE ARE LOOKING AT NOT JUST ERIC SHAREHOLDER RETURN, WE ARE LOOKING AT OUR STAKEHOLDER RETURN, THAT HAS REALLY CREATED A COMPANY THAT WE CAN LOOK BACK AND SAY NOT ONLY, HAVE WE DONE WELL BUT WE’VE ALSO DONE GOOD. THAT IS REALLY WORKED FOR US AS A BUSINESS, WE WENT TO ADVOCATE THAT. AND FOR OTHER ENTREPRENEURS STARTING THEIR BUSINESSES, TO BE CONSCIOUS AND THINK ABOUT WHAT KIND OF BUSINESS ARE YOU CREATING? WHAT IS REALLY IMPORTANT TO YOU? AS ENTREPRENEUR. >>I THINK THAT’S AN INTERESTING SEGUE INTO STUFF THAT IS GOING ON NOW. WE WILL, AT THE WORK SITUATION, ADAM NEWMAN HAS BEEN TAKEN OUT OF CONTROL OF THE COMPANY. AND CERTAINLY, IT IS NOT GOING TO PLAN, SOMETHING’S HAPPENED, AND THE COMPANY CULTURE AT WE WERE, HAS LED ASTRAY, THIS IS NOT THE FIRST TIME WE’VE SEEN THIS IN RECENT YEARS. I WONDERED WHAT YOU THINK ABOUT THIS PULL TO THE FOUNDER FIRST MENTALITY, THE FOUNDER DOES BEST, THEY DESERVE TO HAVE COMPLETE CONTROL OVER THE COMPANY, AND HOW THAT COMPARES TO THE SALES FORCE APPROACH. >>I THINK, I SAID THIS IN THE NEW YORK TIMES, WHICH IS THAT, SHAREHOLDER RETURN, IS GOING TO BE TABLE STAKES, YOU HAVE TO HAVE A SOUND BUSINESS. YOU HAVE TO HAVE A SOUND TECHNOLOGY MODEL, BUSINESS MODEL, YOU HAVE TO TAKE CARE OF YOUR EMPLOYEES, YOU HAVE TO DO THE TRADITIONAL BUSINESS PIECES, BUT THEN YOU HAVE TO THINK ABOUT WHAT KIND OF BUSINESS ARE YOU BUILDING. THAT IS WHERE THE STAKEHOLDER RETURN STARTS TO COME TOGETHER. AND WHEN YOU GET THESE THINGS, THESE TWO THINGS WORKING, YOU’RE GOING TO HAVE A FANTASTIC COMPANY THAT IS GOING TO BE SOLID. BUT YOU HAVE TO OPERATE WITH THAT LEVEL OF VALUES AND THAT LEVEL OF ETHICS. AND IF YOU ARE NOT, THEN YOU’RE NOT REALLY GOING TO EXIST I THINK IN THIS ENVIRONMENT. I REALLY STRONGLY BELIEVE THAT CAPITALISM AS WE KNOW IT IS DEAD. THAT WE ARE GOING TO SEE A NEW KIND OF CAPITALISM. AND THAT NEW KIND OF CAPITALISM THAT WILL EMERGE IS NOT THE MILTON FRIEDMAN CAPITALISM, THAT IS JUST ABOUT MAKING MONEY. AND IF YOUR ORIENTATION IS JUST ABOUT MAKING MONEY, I DON’T THINK YOU ARE GOING TO HANG OUT VERY LONG AS A CO OR FOUNDER OF THE COMPANY. YOU HAVE TO BE MORE THAN THAT IN TODAY’S WORLD. YOU CERTAINLY HAVE TO BE MORE THAN THAT IN SAN FRANCISCO. IN OUR TECH INDUSTRY AS WELL. >>THAT’S BECAUSE YOU DO THAT SUPPORT OF YOUR EMPLOYEES, EITHER FAITH, THE TRUST IN WHAT YOU ARE TRYING TO DO. >>OF TRUST IS NOT YOUR HIGHEST VALUE THEN YOU HAVE TO ASK YOURSELF WHAT IS? I THINK THAT IS THE EXISTENTIAL ISSUE THAT IS ON THE MINDS OF A LOT OF FOUNDERS IN OUR INDUSTRY WHO ARE GOING THROUGH VERY SERIOUS CHALLENGES RIGHT NOW WITH SOCIETY. THE QUESTION IS, WHAT IS YOUR HIGHEST VALUE? IS YOUR HIGHEST VALUE TRUST? IF IT IS NOT TRUST, WHAT IS IT? IF YOU DON’T KNOW, THOSE PEOPLE AROUND YOU, YOUR CUSTOMERS, YOUR PLOYS, ALL THE KEY STAKEHOLDERS THAT I JUST WENT THROUGH, YOU’RE GOING TO FIGURE IT OUT, AND THEY’RE GOING TO SAY, THIS IS NOT THE PERSON I MAYBE WANT TO WORK FOR OR INVEST IN. OR BE A PART OF. AND IS EVIDENCE OF THAT, YOUR EMPLOYEES WILL START WALKING OUT, WE’VE SEEN THAT THIS YEAR. IN SILICON VALLEY. YOUR CUSTOMERS WILL WALK OUT. YOUR INVESTORS WILL WALK OUT. WE SEE THAT WE HAVE THE STORIES. AND THIS IS WHERE EVERY ENTREPRENEUR NEEDS TO WAKE UP AND HEAR THAT MESSAGE. THAT THEY NEED TO THINK ABOUT WHAT ARE THEIR HIGHEST VALUES? THAT THEY ARE REALLY GOING TO ANCHOR THE COMPANY TOO? AND IF THEY DO NOT, THEN THEY WILL PAY A PRICE. AND WE SEE THAT OVER AND OVER AND OVER AGAIN. AND IS OFTEN TIMES, IT GETS PLAYED OUT IN THIS COURT OF PUBLIC OPINION THAT YOU CAN SEE THE PEOPLE SAY THIS IS NOT A COMPANY OR A PERSON THAT WE WANT TO DO BUSINESS WITH. BECAUSE OF COPY VALUE SYSTEM. >>RIGHT. DO YOU THINK THE MODEL, THIS MODEL OF HYPER SCALE VERSUS MENTALITY OF, WE’RE GOING TO GIVE YOU A BUNCH OF MONEY TO HYPER CHARGER BUSINESS, IT SEEMS VIABLE SO FAR. YOU’RE GOING TO JUICE IT UP WITH THIS DO YOU THINK IT ADDS UNDUE TORSION WHERE PEOPLE CANNOT BUILD IN THOSE VALUES? I CANNOT TAKE THE TIME TO BUILD THEM IN EARLY ON? >>I DON’T THINK IT’S EVER ABOUT THE MONEY. I THINK IT IS ALWAYS ABOUT THE CULTURE. PETER DRUCKER, WHO IS A FANTASTIC PROFIT, SOME I LEARNED A LOT FROM, SAID IT WELL, HE SAID THAT CULTURE, EACH STRATEGY FOR BREAKFAST. THAT BEAT YOU HAVE TO LOOK AT THE CULTURE OF YOUR COMPANY. YOU HAVE TO LOOK AT THE CULTURE OF YOURSELF, AS A LEADER. WHO ARE YOU, WHAT IS INSIDE YOUR HEART? WHAT DO YOU REALLY WANT? FOR YOURSELF, FOR YOUR COMPANY, FOR YOUR INDUSTRY, YOUR COMMUNITY, WHAT ARE YOU TRYING TO DO FOR OTHERS. IS TRYING TO IMPROVE THE STATE OF YOUR CHECKBOOK? OR THE STATE OF THE WORLD? AND I THINK IT IS A SLIGHT SHIFT FOR PEOPLE. I DO THINK THAT WE COME OUT OF THE WORLD OF MILTON FRIEDMAN, WE ARE THINKING, SHAREHOLDER RETURN, IT IS JUST ABOUT MAKING MONEY. >>MAYBE THAT’S THE WAY IT WAS >>BUT THAT’S NOT WHERE WE ARE GOING. WE ARE GOING INTO A WORLD WHERE WE ARE REALLY GOING TO BE LOOKED AT BY OUR VALUES. AND THIS IS REALLY IMPORTANT. THIS IS WHAT I TRY TO WORK ON IN MYSELF. IN MY OWN LEADERSHIP AND OUR COMPANY. IT STARTS WITH US, WE HAVE TO BE THAT EXAMPLE. AND THEN, WE ALSO HAVE TO, IT’S A CHALLENGE, I READ ABOUT THAT IN THE BOOK YOU MENTIONED. THAT I’M WRONG ABOUT THESE THINGS BY LISTENING TO OUR EMPLOYEES, CUSTOMERS, OUR PARTNERS, WE ARE ABLE TO BE GUIDED TO THE RIGHT PLACE. >>I’M STRUCK BY HOW MANY TIMES IN THE BOOK YOU CAME TO THIS REALIZATION THAT SOMETHING WAS AWRY, SOMETHING WAS AMISS. WAS DIRECTLY FROM AN EMPLOYEE. IN EFFECT, OR THINGS LIKE PAY DISPARITY, THE -RIGHTS ISSUE CAME UP. AND THE CRISIS WAS AVERTED. >>THIS IS THE FOURTH BOOK. THE FIRST WAS COMPASSION KETTLES IN. COMPASSION CAPITALISM, IT LATER FUNDAMENTAL TENETS. WE ARE TRYING TO CREATE COMPASSIONATE CAPITALISM. THAT’S 20 YEARS AGO. THAT WE LAID IN A SECOND BOOK WHICH WAS THE BUSINESS OF CHANGING THE WORLD. THAT WAS REALLY ABOUT SAYING, YOU KNOW WHAT, HERE ARE OTHER COMPANIES WERE DOING IT RIGHT. THAN THREE WE READ ABOUT BEHIND THE CLOUD, THAT WAS HOW WE GOT FROM AN IDEA TO 1 BILLION IN REVENUE. THAT IS SOMETHING EVERY ENTREPRENEUR WANTS TO LEARN ABOUT. WE WROTE A HOW-TO BOOK ON HOW TO DO THAT. THIS IS A BOOK ON HOW WE THEN WENT FROM 1 BILLION IN REVENUE, TO GO WITH HUMANKIND SAID THIS YEAR WE ARE GOING TO DO ABOUT 17 BILLION. THAT SHIFT, WHEN YOU START TO OPERATED SCALE, YOU NEED TO THINK ABOUT YOUR VALUES. YOU NEED TO LISTEN, MUCH MORE DEEPLY. THIS CONCEPT OF DEEPER LISTENING, CULTIVATING YOUR BEGINNER’S MIND. REALLY PAY ATTENTION IT HAS ALWAYS AMAZING THINGS, START HAPPENED YOU, YOUR EGO, AND YOUR ARROGANCE, AND ALL THESE THINGS AND REALLY START TO TAKE YOU OVER. THAT IS WHERE IT IS LIKABLE, HOW DO I GET BROKEN BACK DOWN SO THAT I CAN LISTEN. IF YOU CANNOT HAVE A ONE-ON-ONE CONVERSATION WITH SOMEONE, IF YOU CANNOT LISTEN TO ANY EMPLOYEE OR ANY CUSTOMER OR ANY STAKEHOLDER I WILL GIVE YOU AN EXAMPLE. I WAS AT A PUBLIC SCHOOL LAST WEEK BECAUSE WE DO A LOT OF WORK HERE IN THE SAN FRANCISCO AND OAKLAND PUBLIC SCHOOLS. WE’VE GIVEN ABOUT $67 MILLION TO THE PUBLIC SCHOOLS IN THE LAST SEVEN YEARS. HAS BEEN AN EXCITING PROGRAM THAT WE ARE PART OF. I WAS GIVING THE SPEECH I WAS ON THE PLAYGROUND AT A MIDDLE SCHOOL, I’M GIVING THE SPEECH I’M GIVING TO YOU. AND EVERYBODY HERE. AND THE DIFFERENCE IS THESE KIDS ARE MIDDLE SCHOOL KIDS, AND I’M LOOKING IN THEIR EYES, AND I FEEL THAT IN MY HEART. THESE ARE MY STAKEHOLDERS. IF MY COMPANY IS NOT BENEFITING THEM, THEN WHO IS IT BENEFITING? AND THAT IS A KEY STAKEHOLDER OF MY. I AM LOOKING INTO THEIR EYES. SAYING, I AM HERE, TO SUPPORT YOU. ONE OF THE REASONS WE HAVE A K- 12 COMPUTER SCIENCE PROGRAM IN SAN FRANCISCO, AND SAN FRANCISCO IS NOW THE HIGHEST RATED MATH PROGRAM OF ALL THE METRO SCHOOLS IN CALIFORNIA. I THINK IS BECAUSE OF THESE INCREDIBLE INVESTMENTS WE HAVE BEEN ABLE TO DO IN PARTNERSHIP WITH SAN FRANCISCO UNIFIED SCHOOL DISTRICT AND THE OAKLAND UNIFIED SCHOOL DISTRICT WITH THEIR CORE PRINCIPLES AND SUPERINTENDENTS. THAT IS THE GIFT OF HAVING A BUSINESS. THE BUSINESS IS THE GREATEST PLATFORM FOR CHANGE. THAT IS WHAT I LOVE ABOUT MY BUSINESS AFTER 20 YEARS. IT’S WHAT GETS ME EXCITED ABOUT GETTING UP AND GOING TO WORK EVERY DAY. IS I CAN IMPROVE THE WORLD THROUGH MY BUSINESS. NOT ONLY BUILD GREAT PRODUCTS, HAVE GREAT CUSTOMER RELATIONSHIPS, HAVE A GREAT SHOT OF HER SHOULDER RETURN, BUT I CAN HAVE A GREAT STAKEHOLDER RETURN ALSO. I CAN USE MY BUSINESS, AS A PLATFORM FOR CHANGE. AND THAT IS WHAT IS EXCITING TO ME. >>IN THAT VEIN, WHAT DO YOU THINK THE WORLD THINGS WHEN THEY LOOK AT SILICON VALLEY, SAN FRANCISCO ESPECIALLY. THE DIFFICULTIES THAT SAN FRANCISCO IS UNDERGOING RIGHT NOW, IN DEALING WITH ITS HOMELESS POPULATION, WITH THE CITY INFRASTRUCTURE ON SOME LEVELS, SUPPORT PROGRAMS. IT SAYS THIS IS THE HEART OR THE HEAD OF SILICON VALLEY, IN SOME WAYS, ALL THESE TECH COMPANIES ARE COMING FROM THERE. THEY ARE CREATING PRODUCTS FOR THE WORLD. WHY SHOULD WE LISTEN? >>YOU CAN SEE IT IN THE BATTLE THAT WENT DOWN EXACTLY A YEAR AGO. WHERE I WAS FIGHTING FOR PROPOSITION C. WE PUT SEVEN AND DOLLARS INTO IT. THIS IS WHAT WE WANTED TO ACHIEVE, WE PUT $7 MILLION INTO IT. WE WANTED TO TAX OURSELVES, WE WANTED TO PAY ONE HALF OF 1% OF OUR REVENUES TO DIRECTLY ADDRESS THE HOMELESS PROBLEM WHICH WE NEED TO MORE FUNDING FOR IN SAN FRANCISCO. AND THIS WAS GOING TO GIVE $30 MILLION PER MONTH AND I WAS FIGHTING SOME OF THE OTHER LEADERS IN SILICON VALLEY WHO DO NOT WANT TO GIVE UP THEIR PROFITS FOR THE REVENUE. AND THEY DON’T CARE. AND THEY ARE NOT INVESTING IN LOCAL PROGRAMS. THEY ARE NOT SUPPORTING KIDS. IT IS A TALE OF TWO WORLDS. AND I FEEL THAT VERY STRONGLY. IT PLAYED OUT REALLY WELL. 62% OF THE VOTES IN SAN FRANCISCO, CAME IN FOR PROPOSITION C IT IS STILL NOT PAYING OUT, BECAUSE WE DID NOT GET TO 66%, THAT IS WHY IT IS IN THE COURTS, AND THAT THE COURTS ACTUALLY DETERMINED THAT WAS A FAIR BOOK, THEN IT WILL BE ENACTED, WHICH IS WHAT WE ALL WENT. THIS IS WHERE WE ARE. WHY WAS EVERYONE NOT ON THAT BANDWAGON? BUT YOU HAD BASICALLY PEOPLE IN SILICON VALLEY, OR INVESTORS, WHO ARE ANTI-TAX, WHO DO NOT REALIZE, IF WE ARE CONSTANTLY OPTIMIZING INCOME TAXES, AND CORPORATE TAXES, THAT YOU ARE GOING TO GET STRIPPED OUT, THE BOTTOM OF YOUR SOCIAL PROGRAMS. AND THEY DON’T SEEM TO CARE. THEY DON’T SEEM TO CARE THAT WE DON’T HAVE ENOUGH TO BE ABLE TO GIVE TO THESE PROGRAMS. THAT IS WHAT HAS TO CHANGE. NOT JUST IN OUR CITY, BUT IN OUR INDUSTRY AND PROBABLY EVERY INDUSTRY. SOME ARE CHANGING AND SOME ARE STILL RESISTING. I THINK IT IS VERY MUCH EVIDENCE OF WHAT HAPPENED A YEAR AGO. >>HOW DO YOU THINK WE CHANGE THOSE MINDS OF THOSE PEOPLE SO THAT THE NEXT TIME AN IMPORTANT ISSUE LIKE PROPOSITION C COMES UP HOW DO YOU GET THEM TO UNDERSTAND, IN THE GRAND SCHEME OF THINGS, WE MAKE A LOT OF MONEY, THIS IS NOT THAT MUCH TO PAY TO HELP BUILD THIS FOUNDATION AND KEEP IT. >>IT HAS TO COME ULTIMATELY FROM THEM AS LEADERS, AND THEN IT HAS TO COME FROM THEIR EMPLOYEES OR THEIR CUSTOMERS, OR THE PARTNERS. AND EACH ONE OF THE GAMBITS THAT WE GO THROUGH IN THE BOOK, UNTIL THE STORIES, PROPOSITION C IS ONE THERE ARE MANY STORIES. WE ARE FIGHTING. THOSE FORCES. THEY ARE OUT THERE. AND IN EACH CASE, THEY LINE UP AGAINST US. AND IN SOME CASES WE WIN IN THAT IN SOME CASES WE LOSE. BUT WE KNOW THAT WE ARE ULTIMATELY ON THE RIGHT SIDE OF HISTORY. WHAT ARE WE GOING TO DO? LEAVE ALL THESE HOMELESS PEOPLE ON THE STREETS? THIS IS RIDICULOUS WHAT IS GOING ON. THEY ARE TELLING US IS NOT A PROBLEM, 17%, IT IS UP 17%, SINCE WE WERE WORKING A YEAR AGO. THAT IS WHAT IS CRAZY. AND YET, WE ARE STILL FIGHTING THIS PEOPLE. AND THEY ARE SAYING ALTHOUGH WE ARE NOT GOING TO DO ANYTHING TO LOWER OUR TAXES EVEN FURTHER, THEY WERE OUR TAXES EVEN FURTHER PLEASE. >>I AGREE. IT’S A JOKE. >>AN INTRODUCTION TO YOUR BOOK YOU SAY THAT WHEN CEOs WON’T TAKE RESPONSIBILITY THEN I THINK YOU HAVE NO CHOICE FOR THE GOVERNMENT BUT FOR THE GOVERNMENT TO COME IN. DO YOU THINK THAT TIME IS NOW FOR FACEBOOK? >>I BEEN SAYING THAT FOR TWO YEARS. FACEBOOK IS THE NEW CIGARETTES. IT SHOULD BE REGULATED. I SAID THAT BY THE WAY IN JANUARY >>[ APPLAUSE ] >>[ CHEERING ] >>THE FIRST TIME I SAID THAT NOBODY APPLAUDED. >>I THINK PEOPLE REALIZE NOW. >>I SAID THAT JANUARY 2018 THEY HAD NOT SEEN KIM ANALYTIC A HOBBY AND NOT WATCH THE BIG ACT ON NETFLIX, THEY NOT SEEN THE 50 OR 100,000 DEVELOPERS THEY HAVE NOW FLIPPED OFF BECAUSE THEY ALL OF THE DATA HAS BEEN HARVESTED AND USED AGAINST THEM. THEY HAD NOT HEARD ABOUT THAT CAMBRIDGE ANALYTIC, WAS USING THIS DATA TO IDENTIFY THE PERSUADERS TO GO IN AND SHIFT THE ELECTION, IN A CERTAIN DIRECTION. NOT JUST OUR ELECTION HERE BUT OTHER ELECTIONS IN OTHER COUNTRIES AS WELL. THAT WAS AMAZING. AND THE GOVERNMENT HAS TO STEP IN, ULTIMATELY, WE ALSO NEED, WE HAVE NOW A CALIFORNIA PRIVACY LOCK WHICH IS SOMETHING I SUPPORTED AND HAPPY TO SEE ENACTED. WE NEED A NATIONAL PRIVACY LAW HERE IN THE U.S. AS WELL. THIS IS A CRITICAL THINK THAT ALL OF US SHOULD BE ACTING FOR. OTHERWISE, YOU’RE GOING TO GET A PATCHWORK OF PRIVACY LAWS FROM EVERY STATE IN OUR COUNTRY, AND I DON’T THINK THE INDUSTRY WANTS TO HAVE TO NAVIGATE THAT. THAT IS A CRITICAL PART OF WHERE WE ARE GOING. WE HAVE GOT TO GET OUR PRIVACY AND OUR DATA LOCKED DOWN. SO THAT WE ALL KNOW EXACTLY WHERE WE ARE GOING. AND WHEN IT COMES TO REGULATION, THE GOVERNMENT IS DOING TOO LITTLE, TODAY. THEY SHOULD BE STEPPED IN NOW, AND THEY SHOULD BE WORKING HARD TO MAKE THOSE CHANGES. AND SOME OF THOSE, SOME OF THOSE LEADERS UNDERSTAND THAT. AND SOME OF THEM ARE STILL WAITING TO UNDERSTAND THAT. >>YOU THINK BEING A PUBLIC COMPANY FOR THE PAST 15 YEARS HAS MADE YOU SAFER IN SOME WAYS? I THINK A LOT OF PRIVATE COMPANIES WE ARE SAYING, GOVERNANCE ISSUES ALL OVER THE PLACE. A RECENT EXAMPLE, WeWork, AND IN HUBER, AND OTHER COMPANIES. WHILE, I CAN’T BELIEVE THIS IS THE WAY THEY ARE RUNNING THIS. >>AND ALL OF THOSE CASES, MY OPINION HAS BEEN A KNIFE DIRECTLY ADVISED MANY OF THOSE CEOs DIRECTLY, THEY ARE STAYING PRIVATELY TOO LONG. THEY DO NOT UNDERSTAND WHAT THE PUBLIC MARKETS DO IS IT’S THE GREAT RECKONING. BUT IT CLEANSES THEIR COMPANY OF ALL THE BAD STUFF THAT THEY HAVE. IT FORCES THEM TO KIND OF APPLY THE REGULATIONS NECESSARY TO HAVE A CLEAN COMPANY. WHETHER IT IS THEIR IMPLEMENTATION, WHETHER AS SEC REGULATIONS, IT HELPS THEM TO CLEAN THINGS UP. AND FOR THESE COMPANIES THAT DO NOT DO THAT, IT IS WAY TOO LONG, BY THE TIME THEY GO PUBLIC, IT IS TOO LATE IN MANY CASES. THEY HAVE NOT MADE THE CHANGES TO THEIR BUSINESS MODEL, THEIR TECHNOLOGY MODEL, OR THE STAKEHOLDER MODEL, AND THEN, MAYBE THEY HAVE THAT POINT, IS OVER. THEY ARE NOT GOING TO RECOVER. I THINK COMPANIES, WE WENT PUBLIC, WE WERE $100 BILLION IN REVENUE. THAT WAS ABOUT THE RIGHT TIME, AND THAT WAS A GOOD TIME. BECAUSE WE ARE SMALL ENOUGH THAT WE COULD MAKE THOSE CHANGES AND ADJUSTMENTS AND THERE’S A LOT OF THOSE, THEY CONTINUALLY HAPPEN. AND THAT INCLUDES THE PEOPLE ON YOUR TEAM, YOUR CHIEF FINANCIAL OFFICER, YOUR LAWYERS, THE PEOPLE WHO ARE REALLY KEEPING YOU, UM, ON THE STRAIGHT AND NARROW. BUT ALSO YOU WANT TO CREATE A GREAT COMPANY. AND GREAT COMPANIES IN MANY CASES ARE THE PUBLIC COMPANY’S. NOT IN ALL CASES. THERE SOME GREAT PRIVATE COMPANIES. BUT THE VAST MAJORITY OF THE GREAT COMPANIES THAT ARE OUT THERE ARE PUBLIC. >>EXCELLENT. THANK YOU VERY MUCH. I WOULD TAKE ANOTHER HALF HOUR BUT I’VE ALREADY GOT OVERTIME. WE APPRECIATE IT. THANK YOU. >>[ APPLAUSE ] >>AS COMPANIES TRANSITION, MORE ATI’S CREATED ACROSS THE ORGANIZATION. WITH HIS INCREASING CAN BECOME MORE CHALLENGING FOR DEVELOPERS TO FIND THESE INTERNAL APIs AND TO USE THEM WHEN THEY ARE DEVELOPING NEW SOFTWARE. THAT IS WHERE RAPID API FOR TEAMS CAN HELP. RAPID API FOR TEAMS ENABLES DEVELOPMENT TEAMS TO PUBLISH THEIR INTERNAL APIs INTO A PRIVATE WORKSPACE. DEVELOPERS CAN FIND ANY INTERNAL API AND VIEW IS DOCUMENTATION, TESTED AND CONNECT DIRECTLY. OR COLLABORATE AND SHARE INFORMATION ABOUT THE API RIGHT IN RAPID API. TEAM RIVERS CAN ALSO SUBSCRIBE TO ANY PUBLIC API AVAILABLE ON THE RAPID API MARKETPLACE AND THE ENTIRE TEAM CAN SEE AND USE THAT’S INSTRUCTION. THIS WAY YOU ONLY PAY ONCE FOR ANY API YOUR TEAM USES. RAPID API FOR TEAMS MAKES IT EASIER TO SHARE AND COLLABORATE ON APIs. GET STARTED TODAY. ON RAPID API.COM/TEAMS. >>LOCAL ENTREPRENEURS, WE USE TECHNOLOGY TO ADDRESS HIS MAC LOCAL TEAMS KNOW THEIR CUSTOMERS BEST AND THEIR BEST PLACE TO MAKE THE RIGHT DECISIONS FOR THEM. WE BEEN OPERATING AS RIGHTIES AND GLOBAL SCALE TO HELP OUR PARTNERS OVERCOME CHALLENGES AND BROTHER COMPANIES. ACTIVE LOVE BUILDING COMPANIES WITH GREAT VALUE, AND MAKE A DIFFERENCE. AS WELL AS OUR INVESTMENTS IN COMPANIES, WE ARE BUILDING MEANINGFUL GLOBAL BUSINESSES AND ONLINE CLASSIFIEDS, FOOD DELIVERY AND RESPECT WE NEVER SIT STILL. WE ACTIVELY SEEK NEW OPPORTUNITIES. TO CREATE VALUE. IT’S WHAT KEEPS US MOVING FORWARD. FOR LADIES AND GENTLEMEN, PLEASE WELCOME YOUR BATTLEFIELD HOST ANTHONY HA. >>YOU ALL KNOW WHAT IT MEANS WHEN I COME OUT AND START SCREAMING AT YOU. THAT’S RIGHT, IT’S TIME FOR ANOTHER SESSION OF THE STARTUP BATTLEFIELD. WE HAVE FIVE MORE STARTUPS PRESENTING FOR YOU, AND THEN WE ARE GOING TO ANNOUNCE THE FINAL IS TONIGHT, AND HAVE THE FINALS TOMORROW BEFORE WE CAN DO ANY OF THAT, I HAVE TO BRING OUT OUR EXPERT JUDGES. FIRST UP WE HAVE NISHA, GENERAL PARTNER AT BB JEEP VENTURES WHICH HE COFOUNDED IN 2014. IN WHICH INVESTS IN CONSUMER TECHNOLOGY STARTUPS WITH AT LEAST ONE FEMALE FOUNDER. NEXT UP WE HAVE A FOUNDING PARTNER AT FEMALE FOUNDER’S FUND, AND EARLY-STAGE FUND INVESTING IN TECH COMPANIES, STARTED BY WOMEN. SHE BEGAN HER CAREER IN TECHNOLOGY AS A COFOUNDER EXCLUSIVELY IN A HYBRID SALE e- COMMERCE MARKET PLACE. NEXT WE HAVE AN ECONOMIC MANAGING DIRECTOR AT RED POINT VENTURES. AFTER JOINING IN 2018 SHE HAS WORKED AT CHARLES RIVER VENTURES, THE COMPANY AND MOST RECENTLY AT HUBER FREIGHT. NEXT WE HAVE ARTICLES, COFOUNDER AND MANAGING GENERAL PARTNER AT MAC VENTURE CAPITAL WHICH YOU MAY KNOW BY ITS FORMER NAME AS CROSS CULTURE VENTURES. IT FINDS ENTREPRENEURS BUILDING THE FUTURE FOR THE REST OF AMERICA, A FORMER COP AND FELLOW AND INVESTMENT DIRECTOR AT INTEL CAPITAL. AND OUR FINAL JUDGE IS NOT LATINA, A VENTURE PARTNER AND ENTREPRENEUR AND RESIDENTS AT THE CAPITAL. PRIOR TO JOINING FLUX IN 2017 SHE WAS A GENERAL PARTNER AND AN INVESTMENT MANAGER AT STANFORD UNIVERSITY’S ENDOWMENT. LET’S HEAR IT FOR OUR AWESOME JUDGES. >>ALL RIGHT. >>[ LAUGHTER ] >>THE PLANT IS IN FRONT OF THE DESK WHICH I THINK MEANS I CAN CALL THE FIRST ON ABOUT. THAT IS EVELYN, AMANDA DUNKER AND JEREMY NASSER WILL PRESENT FOR THEM. ONE OUT. >>LAST WEEK THE WORLD CAME TOGETHER FOR THE LARGEST GLOBAL CLIMATE PROTEST IN HISTORY. PEOPLE ARE SO FRUSTRATED AND PRETTY TO STOP. WHAT CAN WE DO? EACH ONE OF US CAN ACTUALLY HAVE A DIRECT POSITIVE IMPACT RIGHT NOW. BY JUST GOING A LITTLE BIT OF FOOD OUTSIDE. THERE’S GREAT NEWS, BECAUSE THE UNITED STATES IS AHEAD OF THE TREND. HOME DEPOT ALONE SAW AN INCREASE IN THEIR GUARDING REVENUE BY $1 BILLION JUST THIS LAST YEAR. BRINGING THEM TO $18 BILLION FOR THE AVERAGE PERSON SPENT $500 PER YEAR ON HOME GARDENING. BUT NOT ALL OF US HAVE A GREEN THUMB. MOST OF US, HAVE A BLACK THUMB. WE ARE OVERWATERING, WE ARE UNDER WATERING, WE ARE JUST DOING IT WRONG. GARDENING IS REALLY HARD. WHAT CAN WE DO? WE ARE HERE TO CHANGE THE STATUS QUO. GARDENING SHOULD NOT BE THIS HARD. SHOULD NOT HAVE TO STRUGGLE TO FIGURE OUT WHAT AM I PLANTING? WHERE MY PLANTING IT? HOW DO I EVEN GET MY PLANS? 20 FERTILIZER? NOT TO MENTION, MOST OF THESE PRODUCTS ACTUALLY HAVE TOXIC CHEMICALS. WHICH IS NOT ONLY BAD FOR YOU, BUT IT IS ALSO BAD FOR THE ENVIRONMENT. WHAT CAN WE DO ABOUT THAT? LUCKILY, WE HAVE A SOLUTION, THAT WILL MAKE GUARDING SO MUCH EASIER. YOU WILL SEE THAT YOU HAVE BEEN WATERING RUN. INTRODUCING AVILA, WE HAVE CREATED THE FIRST FULLY ASSEMBLED SALTWATER REGARDING, THAT YOU CAN JUST BRING ANYWHERE WITH YOU, YOU NEVER HAVE TO BREAK IT DOWN, WE ARE BREAKING THE RULES AND HOW YOU WATER THE PLANTS. ALSO WE HAVE A COACHING APP TO KEEP YOU ACTIVE AND ENGAGED IN ALL OF YOUR QUESTION ANSWERS BEFORE YOU KNOW THAT YOU HAVE THEM. WITH THE PRINTER, WE ALSO WILL INCLUDE THE PLANS AND ATTEND YOUR WARRANTY WITH THAT PLANTER WHICH IS COMPLETELY UNHEARD-OF BECAUSE WE HAVE THAT MUCH CONFIDENCE THAT YOU ARE GOING TO RUSH IT AS A GARDNER. HOW DOES AVALOW WORK? WHAT IS A SELF WATERING? SELF WATERING, WHAT WE’VE DONE IS CREATED A PROPRIETARY PIECE OF HARDWARE SPECIFICALLY IN THE WATER RESERVOIR AND THAT MATERIALS WERE USING TO MAKE WATER TRANSFER, DIETARY, IMMENSELY EFFICIENT. PLANS ARE ACTUALLY ABLE TO USE THEIR OWN NATURAL PRESSURES TO SIGNAL AND DRAW THAT WATER OUT. SO YOU NEVER EVER HAVE TO WORRY, YOUR PLANS ARE GETTING WHAT THEY NEED, BECAUSE THEY HAVE GOT IT COVERED. THEY KNOW EXACTLY WHAT THEY WANT WHEN THEY WANTED. SO YOU CAN GO ON A VACATION, AND NOT WORRY ABOUT IT. BECAUSE WITH THE RESERVOIR IT IS SO EFFICIENT, THAT YOU CAN FILL IT, TAKE A WEEK VACATION, COME BACK, AND YOU ARE COMPLETELY FINE. WHICH IS UNHEARD OF. SO LET’S GO AHEAD AND SEE THIS MYTHICAL GARDEN IN ACTION. LET’S GO TO THE DEMO PLEASE. HERE WE HAVE JEREMY, HE IS JUST ORDERED AND RECEIVED HIS AVALOW. IT IS COME FULLY ASSEMBLED, AND WITH SOIL. WHICH MEANS HE DOES NOT NEED ANY TOOLS. I KNOW FOR THOSE OF YOU THAT LIVE IN NEW YORK, OR IN A DENSITY FOR YOU DON’T HAVE ACCESS TO A HARDWARE STORE, IT IS SUPER EASY, THIS IS GOING TO MAKE YOUR LIFE THAT MUCH EASIER. ALSO WITH THIS IT HAS AMAZING CONNECTION POINTS, YOU CAN POP AND ACCESSORIES FOR VERTICAL GROWING, TO MAXIMIZE YOUR SPACE. AS WELL AS COLD FRAMES, SO THAT IF YOU’RE LIVING IN CHICAGO, OR NEW YORK, YOU CAN GROW YEAR- ROUND. ALSO WITH IT, BUT YOU CAN SEE, IS THE WATER RESERVOIR IS ACTUALLY BUILT IN UNDERNEATH. AND ALSO IS COMPLETELY INSULATED, TO HELP KEEP THAT TEMPERATURE REGULATED. BECAUSE IN THIS CASE, SIZE MATTERS. THAT’S WHERE A LOT OF PLANTERS GO WRONG, THEY DO NOT TAKE INTO CONSIDERATION YOUR CLIMATE. YOU MAY BE IN LOUISIANA, BUT IT DOES NOT MEAN YOU SHOULD BE NOT BE ABLE TO RESUME. JEREMY IS GETTING AHEAD OF THE GAME, YOU STARTED TO PLANT. HE IS USING OUR COACHING SUSPICION WHICH IS INCLUDED EVERYTHING, HE HAS CREATED THIS BOX, BASED ON HIS CLIMATE AND WE WORK WITH HIM TO MAKE SURE HE IS GEARED UP FOR SUCCESS. SO JEREMY ACTUALLY HAS A QUESTION. HE DOES NOT WANT TO DO ABOUT THE WATER. THIS IS THE FIRST TIME HE HAS DONE THIS CRAZY WATER RESERVOIR THING. HE IS GOING TO GO AHEAD AND CONNECT TO THE APP. IF I CAN GET THE CAMERAS TO DO THAT AS WELL. HE IS WORKING OUT TO ASK A QUESTION IN REAL TIME. BECAUSE WHAT YOU DO IF YOU HAVE A QUESTION RIGHT? YOU CAN TAKE FOREVER. YOU CAN GET LOST ON THE INTERNET. AND YOU CAN GET MISINFORMATION WHICH NOBODY WANTS. IF YOU ARE LIVING IN CALIFORNIA, YOU MAY NOT WANT TO BE GETTING ADVICE FROM SOMEBODY WHO LIVES IN MICHIGAN. WHEN THEY ARE NOT TAKING INTO ACCOUNT YOUR ACTUAL CLIMATE. JEREMY IS ASKING A QUESTION RIGHT NOW, TO OUR GROW TEAM ABOUT HOW THE WATER. ABOUT HOW TO WATER. I’M GOING TO GO AHEAD AND ASSUME THAT HE WAS ABLE TO GET HOLD OF SOMEBODY. BECAUSE WE DO HAVE SOMEBODY WORKING ON IT RIGHT NOW. PERFECT. LOOKS LIKE SOMEONE WAS ABLE TO GET IN CONTACT WITH HIM. >>OKAY. >>ALL RIGHT. ANYWAY,” HE WAS ABLE TO HELP TROUBLESHOOT GOES THEY CAN SEE, WHERE DOES THIS PERSON LIVE? WHEN DID THEY FIRST SUBSCRIBE? WHAT DID THEY START PLANTING? SO WE CAN GIVE YOU ACCURATE INFORMATION BASED ON YOUR LOCATION AS WELL IS YOUR SEASON. WHICH IS VERY IMPORTANT. AND TYPICALLY REGARDING WHEN IT COMES TO SEEKING INFORMATION FROM YOUR LOCAL RETAILERS. OR ONLINE. IN ADDITION TO THAT, JEREMY IS ALSO PRETTY EXCITED BECAUSE HE HAS NEVER DONE THIS BEFORE. HE WANTS TO GO AHEAD AND DOCUMENT HIS JOURNEY.’S GARDEN JOURNEY. WHAT THAT MEANS IS HE IS GOING TO GO AHEAD AND TAKE A PHOTO OF HIS GARDEN. AND WITH THAT PHOTO, NOT ONLY CAN HE DOCUMENT AND UNDERSTAND THE PROGRESS AND WHERE HE CAN SEE THAT LITTLE SECRET IS SOMETHING BIG. AND DOCUMENT THE. BUT ALSO, WE CAN SEE THAT AS WELL. WHICH MEANS THAT WE CAN ACTUALLY TROUBLESHOOT AND GIVE THEM ADVICE BEFORE HE EVEN KNOWS THAT HE NEEDS IT OR WANTS IT. TO HELP GIVE THEM THAT MUCH MORE SUCCESS. PERFECT. >>FINAL THOUGHTS. >>YES. FINAL THOUGHTS. WITH AVALOW YOU CAN GROW ANYTHING ANYWHERE. THIS IS AN OUTER PLANTER THAT YOU CAN PUT IN SMALL SPACES WHETHER YOU ARE IN CHICAGO OR FLORIDA. $50 OFF RIGHT NOW IF YOU GO TO AVALOW.COM AND TYPE IN DISRUPT 2019. THANK YOU. >>[ APPLAUSE ] >>JUDGES. HERE’S A QUESTION. >>THANKS FOR BEING THE FIRST ONE UP. I HAVE A QUESTION ABOUT HER YOU TARGET MARKET IS. IS OBVIOUSLY A BIG MARKET. BUT THE APP BUT THE AVALOW IS $400 IN ONE OF THE STATS WAS ABOUT $500 AVERAGE SPEND. PER YEAR ON GUARDING PRODUCTS. THAT’S ALMOST AS MUCH AS THE AVALOW IN ONE PRODUCT. HOW DO YOU THINK ABOUT YOUR EARLY TARGET MARKET AND HOW DOES THAT FIT INTO THE MASS- MARKET GARDENING? >>ABSOLUTELY. OUR TARGET MARKET, BASED ON OUR PILOT, WE HAVE RIGHT NOW CURRENTLY 400 OF THESE THAT WE HAVE BEEN GETTING FEEDBACK FROM. IT IS WOMEN, AND ALLELES. IT IS WOMEN BETWEEN THE AGES OF 25 AND 35 THAT ARE REALLY FOCUSED ON WELLNESS, WELL- BEING, FOOD, ORGANICS ETC. OUT OF THE FOR THAT? DOES THAT MAKE SENSE? WITH HER MYSELF? WE FOUND THAT THIS IS SOMETHING PEOPLE ARE PRIORITIZING. JUST LIKE SOMEONE IS PAYING FOR A GYM MEMBERSHIP, OR PILATES OR ANYTHING ELSE, AND ADDED EXPENSE. THIS IS SOMETHING THAT PEOPLE ARE YEARNING FOR. SO INSTEAD OF MAYBE PUTTING THOSE EXTRA DOLLARS INTO PRE- ORDERED FOOD BASKETS, OR OTHER SUFFICIENT SERVICES WE ARE FINDING THAT PEOPLE ARE PRIORITIZING AND YEARNING FOR THIS BECAUSE IT FULFILLS MULTIPLE NEEDS. THERE GETTING FOOD, THEY’RE GETTING A LEARNING EXPERIENCE, WHICH PEOPLE ARE YEARNING FOR, IT IS SOMETHING THEY CAN SHARE AND HAVE COMMUNITY WITH. AND IT LAST FOREVER. THAT’S EXAGGERATING. A 10 YEAR WARRANTY. AND SO, WHAT THAT MEANS IS THEY ARE PAYING $400 UP FRONT. BUT THEY ARE GOING TO KEEP THAT FOR 10 YEARS. AND THEY GET TO GROW WITH THAT. SO THEY GET THEIR FIRST PLACE AND IT’S HIS TINY CONDO AND THEY MOVED TO THE NEXT PLACE AND IT’S A LITTLE BIT BIGGER AND THEY CAN TAKE IT WITH THEM. IT JUST KEEPS GOING GOING GOING. >>THANK YOU. >>GREAT PRESENTATION. THE QUESTION I HAVE IS AROUND THIS SELF WATERING SYSTEM. I THINK IT IS FASCINATING. WHEN YOU’RE TRAVELING I THINK IT IS GREAT TO KNOW THAT YOU DON’T HAVE TO WORRY ABOUT WATERING YOUR PLANTS. HOW PROPRIETARY IS THAT? FROM A COMPETITION STANDPOINT IS ANYONE ELSE DEVELOPING THIS? >>GREAT QUESTION. JEREMY’S ENGINEER SO HE SHOULD ANSWER THAT. >>WE SPENT THE LAST THREE YEARS HONING TO R&D THE DIFFERENT MATERIAL SCIENCE, TRYING TO FIND THE RIGHT COMBINATION OF MATERIALS TO ALLOW THE WATER TRANSFER RATE NECESSARY TO GIVE YOU THIS SUCCESS FOR ALL CLIMATE CONDITIONS AS WELL AS TO BE DURABLE AND RELIABLE OVER A LONG PERIOD OF TIME. AND SO THERE ARE SELF WATERING, YOU CAN BUY SELF WATERING PLANTERS, THEY EXIST. YOU’RE GOING TO HAVE TO PLACE IT IN THREE MONTHS. IT IS TYPICAL LIFECYCLE. WE ARE SAYING YOUR FIRST MAINTENANCE IS IN THE FIVE-YEAR TIMEFRAME. AND NO ONE IS DOING THAT. WE ARE MAYBE JUST WEIRDOS BUT WE THINK IT IS IMPORTANT. >>THAT’S GREAT. >>MARKET SEGMENT QUESTION. YOU CARVED OUT A PRETTY LARGE MARKETPLACE. WHAT PERCENTAGE OF THAT MARKET ARE FOLKS THAT ARE STARTING OUT IN NEW ONE-BEDROOM APARTMENTS? OR DON’T HAVE YARDS? OR LIVE IN BUILDINGS? >>REQUESTING. WE ARE ACTUALLY FOCUSING AND EMPHASIZING THE URBAN GARDENER. WE UNDERSTAND THAT THERE IS AN EXISTING MARKET WHERE PEOPLE HAVE THESE LARGE PROPERTIES AND THEY HAVE THE LUXURY OF PUTTING IT ANYWHERE. BUT WE ARE SEEING THIS AS MORE OF AN URBAN PLANTER. IT’S GREATEST SOME OF THE LARGE PROPERTY ONCE IT. TO ADDRESS THAT? >>WILL BE RESTING IS, WITH OURSELVES AS THE GRADUATE PROGRAM, THAT YOU DECORATED YOUR APARTMENT, WITH HOUSEPLANTS, THAT’S GREAT, BUT YOU ARE READY FOR THE NEXT CHALLENGE. AFTER YOU’VE BEEN A LOYAL MEMBER OF MOONSCAPE OR SOMETHING, IT’S THE NEXT PATH UP AS WELL AS IF YOU AS YOU START TO GET MORE SPACE AND EVOLVE IN YOUR CAREER AND YOUR LIFE, YOU HAVE MORE TIME FOR IT. PRIORITY FOR. AS WELL AS SPACE FOR IT. AND THAT TENDS TO BE THE PEOPLE WE ARE TARGETING. IT IS THAT EARLY TO MID CAREER, SPECK OF THE PROFILE. WHAT IS THE NUMBER? WHAT PERCENTAGE OF THAT MARKET SIZE THAT YOU LAID OUT IS THAT? >>FROM AGE DEMOGRAPHIC, IT’S ABOUT 30 MILLION PEOPLE RIGHT NOW. IN THE U.S. KIND OF FIT THAT DEMOGRAPHIC. AND THAT, INCLUSIVE PEOPLE ACTIVELY SPENDING $500 PER YEAR TO GARDEN. NOT INCLUDING THE PEOPLE WHO ARE YET TO BE GARDENERS. BECAUSE THEY ARE NOT DOING IT BECAUSE IT IS TOO HARD. SO WE SEE THAT AS OUR MINIMUM CUT IS THE 30 MILLION. AND WE SEE, THERE IS AN UNDEFINED ABOUT THAT. >>WE ARE SEEING URBAN NO-COST URBAN BEING LARGER CITIES WITH SMALLER PROPERTIES. AS BEING ABOUT TWO THIRDS OF OUR MARKET. THAT IS WHAT WE ARE ANTICIPATING FOR THAT. >>WE HAVE SIX SECONDS. WHAT IS YOUR COST? WAS YOUR COGS? >>IT IS JUST OVER AROUND $180. ON THE PRODUCT. THERE IS ADDITIONAL SHIPPING AND THINGS TO COME INTO IT WHICH GIVES A SENSE EXUBERANT FINAL MARGIN. 60% FINAL MARGIN. MANUFACTURE IN HOUSE. IT IS A RIGHT FIT FOR US AT THIS POINT. THAT IS SOMETHING WE WILL CHANGE OUR MARGIN STRUCTURE. >>THANK YOU FOR EXPECT TO GIVE IT UP FOR AVALOW. >>>>THAT MEANS IT’S TIME TO BRING OUT OUR NEXT STARTUP. PRESENTING FOR CRANIUM ARE PETER CRESPO AND FELIPE A [ INDISCERNIBLE ]. >>SO, IMAGINE A SITUATION, THE UNIVERSAL DONOR IS REQUIRED. BECAUSE THAT IS IMPORTANT TO HAVE THE RIGHT BLOOD TO BASE AN EMERGENCY SITUATION. EVEN THOUGH EMERGENCY RESPONDERS HAVE ACCESS TO ALL BLOOD TYPES, THEY NEED RAPID CONFIRMATION TEST. THIS IS A WORLDWIDE CONCERN. LESS THAN 3% OF PEOPLE ARE, THE SCARCITY CREATES ONE SECOND IS WHAT ONLY LAST FOR 42 DAYS, THAT IS A CONSTANT NEED FOR THE RIGHT BLOOD TYPES. BILLIONS OF DOLLARS ARE BEING SPENT RIGHT NOW IN ORDER TO FACE EMERGENCY SITUATIONS. THAT IS WHY WE HAVE CREATED A PORTABLE MEDICAL DEVICE THAT DETECTS WHAT TYPE IN THREE MINUTES. IT IS FASTER, MORE AFFORDABLE, AND WITH THIS, MORE IMPORTANTLY, WE CAN EXECUTE THE TEST ANYWHERE FROM AMBULANCES, EMERGENCY HELICOPTERS, SMALL CLINICS, REMOTE LOCATIONS. WITH THIS ANY MEDICAL RESPONDER CAN DETECT, WITHOUT HAVING TO WAIT OR TO GIVE A NEGATIVE. THE DEVICE WORKS IN THE SAME WAY MEDICAL STAFF USED TO WORK NOWADAYS, AND THE TRADITIONAL BULKY DEVICES THAT EXIST IN HOSPITALS AND LABS. ALL WE HAVE TO DO IS PUT SOME DROPS IN THE CARTRIDGE, AND THEN, THE DEVICE WILL CURATE THE RIGHT SET OF MOVEMENTS, ALMOST LIKE CENTER FUSION, IN ORDER TO DETECT THE RIGHT RESULT FOR THE TEST. LET ME SHOW YOU HOW THAT WORKS. LET’S GO TO THE DEMO. IMAGINE THERE IS AN ACCIDENT, PEOPLE NEED BLOOD TRANSFUSIONS. ALL THE EMERGENCY RESPONDER HAS TO DO IS PUT SOME DROPS OF BLOOD IN THE CARTRIDGE, AND INSERTED INTO THE DEVICE. AFTER THAT, THE DEVICE WILL CREATE THE RIGHT SET OF MOVEMENTS IN ORDER TO ALLOW CLOTTING. AFTER THAT THE MACHINE LEARNING ALGORITHMS WILL DETECT THE RIGHT RESULTS AND THE RESULT APPEARS ON THE MAIN SCREEN. SO THE TRANSMISSION CAN BE DONE NOW ON THE VEHICLE IF THEY ALREADY HAD BLOOD BANKS OR THE HOSPITAL, THEY CAN BE ALERTED FOR THEM TO BE READY WITH THE RIGHT BLOOD TYPE. AS SOON AS THE PATIENT ARISE. SO THE DEVICE CAN DO THE TEST, BACK TO THE DECK. WE REDESIGNED THE WAY TESTS ARE BEING DONE, WITH BIBLICALLY DEVICES. IN ORDER TO EXECUTE THE TESTS, ANYWHERE, WE USE THIS CARTRIDGE, IN ORDER TO SPLIT THE BLOOD EVENLY INTO ALL THE CONTAINERS. WE HAVE A PATENT FOR THE PROCESS AND WE CREATED SECRET STRATEGY FOR THE ALGORITHMS. 99.77 WHICH IS MORE THAN ENOUGH FOR REQUIREMENTS. FOR FDA. WE ARE COMPETITORS SO WE ARE TALKING ABOUT THE BIG MULTINATIONALS. BUT THEY CAN ONLY DO THIS IN LABORATORIES AND HOSPITALS. WE ARE THE ONLY ONE THAT CAN DO THE SET POINT OF CARE. WE ARE FASTER, AND MORE AFFORDABLE. THE MARKET, IS HIGHER THAN $4 BILLION.. THIS IS CALCULATED WITH THE NUMBER OF HOSPITALS AND EMERGENCY VEHICLES WORLDWIDE. TESTS, IS REGULATORY WHEN. THE FIRST MARKET FOR US OUR UNITED STATES, AND EUROPEAN UNION. WE VALIDATED THE DEVICE IN MAJOR INTERNATIONAL HOSPITALS. WITH AN ACCURACY OF ACCURACY OF 99.77% FDA ONLY REQUIRES 97% FOR THESE KINDS OF TEST.’S WE ARE IN THE PROCESS OF SECURING FDA AND SEYMOUR, WE ALREADY SECURED THAT GOVERNMENT INSTITUTES AND HOSPITAL GROUPS. BUSINESS MODEL IS, INITIAL REVENUE COMES FROM HARDWARE, CARTRIDGES, AND SOFTWARE AS A SERVICE ALGORITHMS. THIS IS A MARKET THAT IS OWNED, WE ALREADY HAVE LETTERS OF INTENT FOR MOST OF THEM. MEDICAL, SCIENTIFIC AND BUSINESS WISE. WE ARE BIOCHEMISTRY, WE HAVE PEWTER AND MACHINE LEARNING EXPERTS. WE HAVE PEOPLE IN BUSINESS MANAGEMENT. WE ALSO HAVE EXCELLENT ADVISORS, RESEARCHERS, TO THE CEO OF ONE OF LARGEST HOSPITALS IN LIBERIA. IF YOU’RE IN THE BLOOD RELATED ROLE, GO TO OUR WEBSITE, ASKED FOR A PILOT, HELP US TO REDUCE COST OF THE HEALTHCARE INDUSTRY. AND SAVING LIVES. THANK YOU. >>, BUT >>JUDGES. >>CAN YOU TELL US ABOUT YOUR DISTRIBUTION STRATEGY? MORE IMPORTANTLY HOW THE BUYER THINKS, THEY ARE READY HAVE AN INFRASTRUCTURE IN PLACE. YOU’RE GOING TO COME IN AND SAY I’M FASTER, AND CHEAPER, JUST TAKE ME OVER OR IS IT SOMEWHERE, IT DOES NOT HAVE INTERSECTION AT ALL? AND THEY START FROM SCRATCH? >>IT’S JUST THE WAY YOU GIVE BLOOD. HOSPITAL SPEND AROUND 1% OF THEIR BUDGETS AND BLOOD. IMAGINE THE SAVINGS THEY COULD HAVE IF THEY COULD GIVE THE RIGHT ONE, INSTEAD OF A NEGATIVE EVERY TIME. SO DISTRIBUTORS, THEIR BIG PLAYERS, THEY CONTROL THE BLOOD INDUSTRY, THE BLOOD TYPING DEVICES ETC. WE TALKED WITH THEM, WE VALIDATED THE BUSINESS MODEL WITH THEM, WE UNDERSTOOD WHAT KIND OF MARGINS THEY WANTED FROM US. AND WITH THAT WE GOT, LETTERS OF INTENT. >>IS THAT WHAT YOU MEAN BY TRACTION? LETTERS OF INTENT? AS OPPOSED TO FORMAL WORKING RELATIONSHIPS WITH THEM? >>WE HAVE, MAJOR INTERNATIONAL HOSPITALS THAT SHOW THE ACCURACY. WE CLINICAL TRIALS WITH THEM. HOWEVER WE CAN’T HAVE ORDERS UNTIL WE HAVE THE FINAL DEVICE READY. WHAT WE ARE DOING RIGHT NOW IS DOING FUNDRAISING TO HAVE THE FINAL DEVICE READY HANDLE THE REGULATORY AND DELIVERING DEVICES. >>A QUICK FOLLOW-UP IF YOU DON’T MIND? YOU MENTIONED THAT YOU’RE GOING TO THE FDA APPROVAL PROCESS. WHERE ARE YOU IN THAT PROCESS? >>WE DON’T HAVE TO BE FROM SCRATCH, WE ARE FIVE 10K, BECAUSE IT IS SOMETHING THAT WE DESIGN FROM THE TRADITIONAL WAY. IT TAKES AROUND SIX MONTHS. WE ESTIMATE THE PAPERWORK NECESSARY FOR THAT, NOT ONLY FOR FDA BUT FOR CE, TO START SELLING ALSO. IN EUROPE. >>JUST AS A SIDE NOTE TO MAKE SURE, IT IS CLEAR, WE HAVE MORE THAN ENOUGH ACCURACY TO MAKE THE WHOLE PROCESS. IT JUST NEEDS TO BE THE FINISHED PRODUCT WHICH IS BASICALLY A MANUFACTURED DEVICES, SO THAT IT IS READY TO BE FDA APPROVED. TECHNICALLY, AND SCIENTIFICALLY, THE DEVICE IS MORE THAN >>AS YOU THINK ABOUT THE FUTURE, WHAT ARE OTHER BUSINESSES, MEDICAL DEVICES IN THIS CATEGORY, RELATED CATEGORIES, WHAT ARE THE OUTCOMES? WOULD IT LOOK LIKE? >>WE CREATED THE DEVICE AS A PLATFORM. BASICALLY WE CAN DETECT ALSO, AND SO ON. BASICALLY, YOU PUT A DIFFERENT CARTRIDGE FOR EVERY TEST. WHAT WE ARE USING IS STANDARD FREE AGENCY, THAT THEY ALREADY USE BY THE BIG PHARMACEUTICALS. AND WE ARE RINGING THAT FOR THE POINT-OF-CARE AREA. THERE IS A LOT OF ROADMAP FOR IT, VETERINARY, WATER ANALYSIS, ETC. WE BASICALLY CAN DETECT EVERY VISIBLE REACTION. YOU CAN SEE. >>CAN YOU TALK ABOUT PRICE POINT AND HOW IT RELATES TO YOUR COMPETITORS? >>BASICALLY, THE MINIMAL COST OF TRADITIONAL DEVICES IS HIGHER THAN $250,000. WE CAN SELL THE DEVICE AND GIVE FINANCIAL INCENTIVES DEPENDING ON THE ANNUAL COMMITMENT FOR THE NUMBER OF COUNTRIES. $6000. THE OTHER IS THE ALGORITHM, EVERY TIME WE HAVE A NEW ALGORITHM, THE DEVICE ITSELF UPDATE OVER THE YEAR. AND THE CLIENT WILL PAY THAT AS WELL. >>COULD YOU TALK A LITTLE BIT MORE ABOUT HOW YOUR TECHNOLOGY IS DIFFERENT FROM THE EXISTING MODELS ON THE MARKET? YOU MENTIONED COMPUTER VISION, BUT IN A WORLD OF, I WILL AS THE CONTROVERSIAL QUESTION ON EVERY IS WHY, IN A WORLD OF, TELL US HOW IT IS REALLY DIFFERENT. >>FIRST OF ALL WE CAN DO IT AT POINT-OF-CARE. NO ONE CAN RIGHT NOW FOR BLOOD TYPING. >>FROM THE SCIENCE PERSPECTIVE, YOU NEED TO MAKE SURE THAT YOU CAN DETECT VISIBLE REACTIONS ON THE MOVE. THAT IS WHY WE FOCUS ON PORTABILITY. AND THAT HAS ITS OWN CHALLENGES. BASICALLY, WE SAW THAT WITH, THE DESIGN OF OUR OWN CARTRIDGES. TO MAKE SURE THAT THE REACTION THAT MINIMUM TIME POSSIBLE. WE OPTIMIZE THE REACTION. AND THEN WE ALSO DESIGN THE CARTRIDGE TO BE ABLE TO BE EASIER FOR THEM TO BE EXTRACT THE COMPUTER FUTURES THAT WE REQUIRE FROM EACH REACTION. IT IS A COMPLETE APPROACH FROM THE MACHINE. TO MAKE SURE THAT THAT WE ARE ABLE TO VERY EASILY OR AS EASY AS POSSIBLE DETECT VERY COMPLEX AND SOMETIMES VERY SUBTLE CHEMICAL REACTIONS. WHICH ARE RIGHT NOW VERY HARD TO DO EVEN ON BULKY MACHINES. >>IT STANDS FOR CHEMICAL REACTION AND IMAGE ANALYSIS. >>FINAL QUESTION? >>WHAT YOU INTEND TO ACCOMPLISH WITH YOUR FUNDING ROUND? >>BASICALLY, WE WANT TO GO, WE HAVE PROTOTYPES READY. CLINICAL TRIALS DONE. LETTERS OF INTENT FOR THIS. GETTING THE FINAL DEVICE READY. HANDLE THE REGULATORY INSERT SELLING. AFTER THAT, WE WILL GO TO THE ROADMAP FOR DIFFERENT DISEASES. RETAIL DETECT MAGNESIUM AND CALCIUM. IN ORDER FOR THEM TO SELL THE RIGHT SUPPLEMENTS. FOR PERSONS. IS SOMETHING WE WANT TO DO. >>LET’S HAVE ONE MORE ROUND OF APPLAUSE. >>[ APPLAUSE ] >>OUR NEXT STARTUP HIS LIFE COUPLE, ONE OUT. >>I WAS NOT SLEEPING IN MY BEDROOM WITH MY WIFE FOR MONTHS. WE WERE ACTUALLY GOOGLING DIVORCE ATTORNEYS. MY WIFE AND ME HAD BEEN MARRIED FOR 19 YEARS, WE HAVE TWO CHILDREN. WEED WITH THE FIVE MARRIAGE AND FAMILY THERAPIST AND IT WAS NOT WORKING. MY MARRIAGE WAS FALLING APART AND DIVORCE WAS COMING. WE NEEDED TO COME UP WITH SOMETHING THAT WORKED. IN MY ENTREPRENEUR LIFESTYLE, THE WORK WITH MY WIFE AND WHAT HER DREAMS AND AMBITIONS WERE. WE NEEDED SOMETHING AND WE NEEDED SOMETHING FAST AND A MIRACLE HAPPENED. A MIRACLE THAT BROUGHT US TOGETHER, AND WE CREATED LIFECOUPLE. IT IS A PLATFORM THAT ALLOWS COUPLES TO ADDRESS RELATIONSHIP CHALLENGES ANYWAY THAT IS SUITABLE FOR THEIR EVERYDAY LIVES. WE HAVE JACK AND JILL, AND THEY HAVE JUST TAKEN A METRIC DRIVEN ON BOARDING QUESTIONNAIRE. AND THEIR PROPRIETARY ALGORITHMS, FOUR KEY AREAS OF THE RELATIONSHIPS, HAVE NOW BEEN FILLED. COMMUNICATION. TRUST. INTIMACY. AND CONFLICT. THE PLATFORM UNDERSTANDS THESE VITAL AREAS. AND IT OFFERS CHECK-IN’S SEE HOW THE COUPLE IS DOING. AND THROUGH ALERTS, AND AI AND MACHINE LEARNING, THE COUPLE IS NOW OFFERED WAYS TO BRING THE GAP BETWEEN WHERE THEY ARE AT IN THEIR SATISFACTION LEVEL, TO BE ONE. IT TAKES ONE OF THE MOST IMPORTANT THINGS WE TAKE FOR GRANTED AND THAT’S OUR RELATIONSHIP, MAKES US THINK ABOUT IT. BECAUSE WITHOUT A GOOD RELATIONSHIP, IT’S A FIT BID FOR YOUR HEART. THIS IS THE VITALS. THE RED AREAS THE GROWTH AREA. AND THE PLATFORM IDENTIFIED THE JACK NEEDS TO DO SOMETHING. JACK IS GOING TO DO SOMETHING WE CALL ICEBREAKER. ICEBREAKER SOMETHING WHERE YOU WANT TO COMMUNICATE TO ONE PARTNER, SOMETIMES IF YOU SAY THE WRONG THING, IT IS NOT GOING TO GO WELL. ON THE SITUATION, JACK HAS JUST GOTTEN THE MESSAGE BECAUSE HIS PARTNER WANTS HIS MOTHER-IN-LAW TO COME VISIT. NOT FOR ONE DAY, SHE WANTS TO COME FOR A MONTH. >>[ LAUGHTER ] >>[ LAUGHTER ] >>SO INSTEAD OF JACK ACTING LIKE JACK DOES, JACK IS NOW ABLE TO ACT IN A WAY TO BEHAVE SO THAT HIM AND JILL ARE NOT WALKING AWAY IN A CONFLICT. THE PLATFORMS OF THE MESSAGE, AND THE MESSAGE GOES TO JACK, AND ASKED JACK, MEET WITH JILL, AND SOLVE THIS CHALLENGE. AND LET’S KEEP TRACK OF HOW THINGS HAVE GONE. THE PLATFORM ALSO HAS OTHER AREAS. OTHER AREAS SUCH AS RELATIONSHIP CHALLENGES. OTHER AREAS SUCH AS DIGITAL GIFTS WITH THE FIVE LOVE LANGUAGES. OTHER AREAS SUCH AS MAKE A RELATIONSHIP HAVE THAT NEEDED DATE, OR, GO ON AND GET THAT VIDEO, BECAUSE AI HAS KICKED IN AND AI KNOWS WHAT YOU NEED. TO GET THROUGH. TO KEEP THE RELATIONSHIP GOING. THIS PLATFORM WAS BUILT TO KEEP A RELATIONSHIP HEALTHY. IT WAS NOT ONLY BUILT TO KEEP THEM HEALTHY, BUT IT WAS BUILT BECAUSE 11 TO 80% OF PEOPLE THAT GO TO THERAPY FIND IT TO BE NOT EFFECTIVE. THERE IS NO DIGITAL SOLUTION. ANOTHER IS. WHEN YOU WALK IN TODAY ONE OF THE THERAPIST OFFICE, THAT THERAPIST IS GOING TO TAKE AN iPAD OUT AND THEY ARE GOING TO FIND EXACTLY WHERE YOU’RE AT. THEY’RE GOING TO KNOW EXACTLY WHERE YOU ARE COMMUNICATION, CONFLICT, TRUST, INTIMACY LEVELS ARE. AND AT THE END OF THAT SESSION, THEY’RE GOING TO DROP DOWN AND GIVE YOU AN ACTIVITY. AND THAT ACTIVITY IS GOING TO BE SOMETHING YOU WILL DO IN BETWEEN SESSIONS. ME, I WOULD LOSE THAT PIECE OF PAPER. BUT NOW, YOU CAN’T LOSE IT. BECAUSE IT IS IN YOUR PHONE. A PHONE THAT YOU SPEND FOUR AND HALF HOURS A DAY ON, AND YOU COULD SPEND 15 MINUTES AND DO SOMETHING PRODUCTIVE. WHEN YOU COME BACK INTO THAT THERAPIST OFFICE, BUT THERE IS GOING TO BE ABLE TO SEE EXACTLY WHAT YOU’VE DONE, AND YOU WERE GOING TO HAVE A GAUGE OF EXACTLY WHERE YOUR RELATIONSHIP IS GOING, OR NOT GOING. THIS IS A TREATMENT PLAN. LET’S GO AND TALK ABOUT EXACTLY HOW LIFECOUPLE CAME ABOUT. A COMPETITION, DOCK SPACE, RELISH HOW GREAT COMPANIES BUT NO ONE TRACKS AND NO ONE MONITORS THE HEALTH OF ONE’S RELATIONSHIP. THERE IS ALSO OTHER AREAS, FOR EXAMPLE, OUR GO TO MARKET STRATEGY. OUR GO TO MARKET, EXCUSE ME, SORRY. HOW BIG IS THE MARKET? 9.6 BILLION EXCUSE ME 9.6 BILLION AND 3.8 MILLION, THIS IS A MASSIVE INDUSTRY. AND INDUSTRY THAT THE DATING AND SHE STARTED BUT WHAT KEEPS US TOGETHER. THIS PLATFORM WILL GIVE US TOGETHER. THE COMPANY STARTED MARKETING IN JULY. WE SPENT $5500, WE HAVE 5000 USERS AND IS AN ASTONISHING A DOLLAR 25. FIVE MINUTES AND 42 SECONDS PEOPLE ARE SPENDING ON THIS APP, AND WE HAVE NOT EVEN BEEN CLOSE TO ENGAGEMENT IN ANY FORM OF STARTING TO WORK ON HER MESSAGING. OUR GO TO MARKET STRATEGY, OF COURSE WE HAVE THE TRADITIONAL, BUT IN THE MIDDLE WE HAVE BROKEN GROUND WITH SOME OF THE BIGGEST ORGANIZATIONS THAT A BLOCK TECHNOLOGY FROM DAY ONE AND WE HAVE BUILT A PARTNERSHIP BECAUSE WE COMPLEMENT THERAPY. WE DO NOT SAY, THAT THERAPY IS GOING TO BE REPLACED BY TECHNOLOGY. AND WHEN IT COMES TO THE EMPLOYMENT ASSISTANT PROGRAM, $13 BILLION IS LOST IN UNPRODUCTIVE AND OPPORTUNITY BECAUSE OF PEOPLE DIVORCING OR IN AN UNHAPPY MARRIAGE. LIFE COUPLE HAS A STAR-STUDDED TEAM, THE TEAM OF ADVISORS, WE HAVE MATT FROM, WITH THE BOOK, AND TOOK IT TO A BILLION-DOLLAR VALUATION. IN SUMMARY, LAST COUPLE IS PROPELLING THE FUTURE OF RELATIONSHIP HEALTH, AND I ASK EVERYBODY IN THIS ROOM TO DOWNLOAD LIFECOUPLE TODAY. AND BE PART OF THE MOVEMENT. THANK YOU. >>JUDGES, >>AM HAPPY TO START THEIR CONGRATULATIONS. I THINK THAT THERE BE FOR COUPLES IS IS INTERESTING SPACE. THE QUESTION I HAVE FOR YOU, BASED ON WHAT WE SAW, IS, ARE YOU LOOKING TO REPLACE COMMUNICATION VIRAL WITH COUPLES? OR IS THE IDEA THAT ON A WEEKLY OR DAILY BASIS EACH OF YOU IS WILLING TO SPEND FIVE MINUTES ON YOUR PHONE ADDRESSING WHATEVER ISSUES THAT YOU HAVE YOUR TRYING TO UNDERSTAND WAS BACK HOW YOU ARE IMPROVING THE RELATIONSHIP IS A MORE DIGITAL? ARE ALSO IN REAL TIME. >>IT BRINGS YOU TOGETHER AND ASKS YOU TO MEET. WE CANNOT TAKE OUR PHONES AWAY. WE CAN DO, WE CAN ASK THAT WE SPENT FIVE OR 10 OR 15 MINUTES WHETHER IT IS IN THE BEDROOM, OR IN THE MORNING, AND THE PLATFORM REMIND YOU AND ASKED YOU TO TAKE THOSE LITTLE BABY STEPS. WITH THESE BABY STEPS, WE CAN GROW. WE MIGHT ONLY START WITH FIVE MINUTES, WE COULD GO TO 10 MINUTES. IT’S ALL ABOUT SMALL WINS, SMALL WINS MAKE A RELATIONSHIP START TO FLOURISH. AND SO LIFE COUPLE, IT ENABLES YOU TO HAVE SMALL WINS, AND MAYBE PICTURE OUT OF THE HABIT AND GET YOU TO PUT THE PHONE DOWN. IS ACTUALLY A COMPLIMENT BUT IT DOES NOT REPLACE THE MOBILE PHONE. >>YOU PUT UP SOME METRICS, 5000 USERS. REALLY IMPRESSIVE SESSION LENGTH, WHAT ARE THE OTHER METRICS YOU ARE TRACKING, DAILY ACTIVE USERS, WHAT ARE YOU SEEING THERE, AND HOW ARE YOU THINKING ABOUT RETENTION, THIRTY-DAY RETENTION AND ENGAGING PEOPLE SO THEY WANT TO GO BACK TO THIS PRODUCT EVERY DAY EVERY? >>EXCEED THE. WITH THE RELATIONSHIP PULSE CHECK IN, IT IS AUTOMATIC, EVERYBODY WANTS TO KNOW WHERE THEY ARE AT. DAILY, EVEN IF YOU ARE NOT DOING IT IN THE APP, YOU WANT TO KNOW WHERE YOUR PARTNER IS AT. WE ARE ALMOST TAKING YOUR TEMPERATURE. WE FOUND THAT WE STARTED TO MESSAGE PEOPLE, USING PUSH OR TEXT, COUPLES WERE GOING ON BECAUSE THEY WERE DYING TO FIND OUT EXACTLY WHERE THEY WERE AT A BROTHER PARTNER WAS AT. AND WITH THIS WE STARTED TO USE SOME OF THE TECHNOLOGY TO BE ABLE TO OFFER DYNAMIC CONTENT. IF SOMEONE IS HAVING AN INTIMACY ISSUE, WE HAVE THE TOP INTIMACY EXPERTS IN THE WORLD. THE RETENTION PLAY IS TO GIVE DYNAMIC CONTENT, TOP-NOTCH CONTENT, WE PLAN ON FOLLOWING HIS BOOK. SUSPECT YOU HAVE THOSE METRICS? DAILY ACTIVE USERS? SUSPECT THE DAILY ACTIVE USERS RIGHT NOW ANYWHERE FROM 144 TO SOMETIMES 180. IT GOES UP AND DOWN. WE TESTED OTHER COUNTRIES AND IN OTHER COUNTRIES THERE IS SOME CULTURAL, I WILL CALL IT BIAS, OR PEOPLE JUST MAYBE DO NOT WANT TO GO IN, BECAUSE THEY CANNOT SEEM TO GET THEIR PARTNER. AND SO WHAT WE HAVE DONE IS WE HAVE TRANSFERRED DOWN TO NORTH AMERICA AND WE HAVE STARTED TO FOCUS IN ON CANADA, AND THE U.S. BECAUSE WE THINK WE CAN GET A SOLID ANSWER. THAT IS WHAT WE ARE LOOKING AT. AND WE ONLY LAUNCHED IN JULY. WITH PRODUCING WHAT WE ARE PRODUCING. >>COULD YOU DOUBLE-CLICK ON YOUR TEAM? IT IS AI DRIVEN.’S ARE AI ENGINEERS ON THE TEAM? AND IS THERE A TRAINED THERAPIST ON THE TEAM THAT IS TRAINING THE AI? >>HONOR ADVISORY BOARD, WE HAVE, THE TEXAS ASSOCIATION OF MARRIAGE AND FAMILY THERAPY, WE HAVE TWO BOARD MEMBERS OF THE AMERICAN ASSOCIATION OF FAMILY THERAPY, WITH SOME OF THE YOUNGEST MOST FORWARD THINKING THERAPIST THAT WANT TO PUT THIS PLATFORM ON HIS HEAD. THEY REALIZE THAT IT IS BROKEN. THEY SEE WHAT’S HAPPENING. AND THEY WANT TO BASICALLY BRING A TECH PLAY IN THE PLACE. AS FAR AS OF THE DAY-TO-DAY STUFF, WE ARE OUT, I’M OUT OF COFFEE SHOPS, AND PLACES ASKING PEOPLE, SOUNDS WERE COMPANY ASKING THEM, WHAT YOU NEED, WHAT CAN WE DO. AND THAT’S HOW WE ARE BUILDING THIS PRODUCT THAT WE ARE BUILDING IT BY PEOPLE, NOT BY THEORIES. BECAUSE THEORIES EVEN THOUGH THEY SOUND GREAT, AT THE END OF THE DAY, WITH EVERY 36 SECONDS AND WORST TAKING PLACE, I THINK THE PEOPLE CAN HAVE AN ANSWER AT TIMES, AND THAT IS THE APPROACH WE ARE TAKING. WE DO HAVE EXPERTS, WE HAVE SOMEBODY THAT IS ACTUALLY FROM THE UNIVERSITY OF MICHIGAN, HE IS A TOP PROFESSOR THERE, AND WE PLAN ON BRINGING IN THE UNIVERSITY OF MICHIGAN IS ARE BRINGING IN SOME OF THE DATA AND GROWING FROM THERE. SEC WHAT YOU EXPECT YOUR REVENUE MODEL TO BE AS YOU GROW? >>IT SAYS APPROACH AND BASE. WE WILL START OFF MONTHLY, AND YEARLY, RIGHT NOW, WE HAVE AN IDEA WHERE WE WANT TO GO. WE ARE LOOKING AT ANYWHERE FROM NINE DOLLARS PER MONTH TO $12 PER MONTH AND THE BEAUTIFUL THING ABOUT IT IS AS A PARTNER PACE, PARTNER B DOES NOT PAY. A PARTNER A COMES ON BOARD, AND PARTNER B DOES NOT WANT TO COME FROM THE HEART WE WILL OFFER CONTENT TO GIVE YOU THE STRENGTH FROM ANYTHING WE CAN. TO FIND WHAT YOU NEED TO GET THROUGH THIS HARD TIME. >>SOUNDS LIKE A LOT OF THE INSIDE AND BIG DIFFERENCE COMES FROM INTAKE QUESTIONNAIRE. >>ON BOARDING HOW MUCH IS IT PREP PAIR) TERRY TO YOU? >>WE HAVE PATENT PENDING STATUS. IT’S 100 PER TENT PROPRIETARY. WE HAVE NOT GOTTEN THE PATENT GRANTED. AS FAR AS THE WHOLE PROPRIETARY QUESTIONS. WE HAVE THE ABILITY ON THE BACK AND TO CHANGE THOSE QUESTIONS AT ANY TIME WITHOUT HAVING ANY KIND OF UPDATES. WE ARE FINDING DIFFERENT NUANCES OF THE LGBT COUPLE OR A COUPLE IN A CERTAIN AREA THAT MIGHT HAVE A DIFFERENT INCOME LEVEL. WE ARE LEARNING AND WE’RE LEARNING AND WE ARE LEARNING. WHAT WE DID WE BUILT AN ENGINE THAT CAN SOLVE THE PROBLEM THAT THE THERAPIST HAD TO TAKE AND GO OUT AND GET GRANTS AND THEN PUT INTO PLACE AND NOT TO SAY THAT THEY DON’T WORK WHAT I’M SAYING IS THAT TECHNOLOGY HAS THE ANSWER. BUT YET IT HAS THE ANSWER WITHOUT PULLING US APART. >>GIVE IT UP FOR LIFE COUPLE. >>THANKS. >>ALL RIGHT LET’S BRING OUT OUR NEXT STARTUP. STRATEGY RL RIGHT AND KATE PASSED OUT. >>GOOD AFTERNOON EVERYONE MY NAME IS ARI ALL RIGHT I’M THE CURRENT SENIOR STUDYING COMPUTER SCIENCE AT HARVARD UNIVERSITY AND A FORMER CRYPTO CURRENCY AT GOLDMAN SACHS. EARLIER THIS YEAR DONALD TRUMP TWEETED ABOUT THE NEGOTIATIONS WITH THE TRADE WAR FOLLOWING THROUGH. AS A RESULT, ONE MAN WITH ONE SINGLE TWEET MOVED ON THE S&P 500 BY 4% IN JUST TWO DAYS. THAT IS APPROXIMATELY $90 BILLION IN LOSSES ACROSS OUR NATION. HOWEVER, JPMORGAN WAS NOT AS IMPACTED AS THEY HAVE AN AUTOMATED INDEX TO TRACK TRUMP AND HIS TWEETS. HOWEVER, THIS IS IN THE ONLY CASE. EARLIER THIS YEAR, BOEING HAD A PLANE CRASH WHICH LED THEIR STOCKS TO DROP BY 5%. TRADING TO $10 BILLION IN LOSSES IN 24 HOURS. HOWEVER, VERY SIMPLE ALGORITHMIC TRAINING TOOLS OUT THERE THAT CAN WORK ON THESE SCENARIOS. 7% OF OUR WORLD CANNED CODE. AN 85% OF THE STOCK MARKET IS LED BY MACHINES. WHERE DOES THAT LEAD EVERYONE ELSE? FROM YOUR EVERY DAY TD AMERICAN AID TRADE TRAITOR TO YOUR PRIVATE WEALTH MANAGER AND A $10 BILLION FUND THAT HAS NEVER TOUCHED A COMPUTER. THESE PEOPLE ARE BEING LEFT BEHIND WHICH IS WHY WE CREATED STRATEGY X. STRATEGY ACTS. IS THE ELMER BRICK TRADING. WE DO THIS BY CREATING TOOLS BY EVERYDAY INVESTORS WHO CANNOT CODE AUTOMATE AND TEST TO AUTOMATED PORTFOLIO. I CAN SHOW YOU HOW IT WORKS. SO STRATEGY X IS BROKERED AGNOSTIC THAT MEANS YOU CAN BRING ON YOUR OWN BROKER. WE ARE GOING TO BE USING ROBIN HOOD. WE ARE GOING TO CREATE A NEW STRATEGY USING A VIVIAN. THIS WORKS IN THE SOLAR PANEL SPACE. WE ARE GOING TO GO FOR 10 SHARES. AND FROM THERE, NOTICE HOW INTERFACE ALLOWS YOU TO BUY WHEN AND SELL WHEN GIVING YOU INDICATION THAT YOU CAN CREATE RULES TO PROTECT AND ALSO TAKE ADVANTAGE OF OPPORTUNITIES. YOU CAN USE THESE RULES AND FOR X, TWITTER, PRICE CHANGE, ETC.. FROM THERE, WE CAN CREATE OUR BY SOLUTION. IN THIS CASE, WE DECIDED THAT WE WANTED TO BUY WHENEVER THERE ARE THINGS SURROUNDING GREEN TECH. THE 2020 ELECTION AS WELL AS MATERIALS FOR CLIMATE CHANGE IN THE SPACE OF KEYWORDS. THESE ARE A FEW OF THEM. YOU CAN ALSO CHOOSE A CELL CONDITION AND FROM THERE, WE DECIDED TODAY THAT WE WANTED TO ACTUALLY SELL UNDER CONDITIONS OF GEOPOLITICAL INSTABILITY. SO WHEN TRUMP OR TRADE WAR OR MATERIALS SURROUNDING IMPEACHMENT ARE PRESENTED, IT’S AWESOME. GREAT. WHY DON’T WE HAVE A LOOK AT WHAT THE BACK TEST GIVES US. STRATEGY X IS UNLIKE ANY TOOL IN THE SPACE. WE HAVE AN INTERNAL PROPRIETARY SCRIPTING LANGUAGE THAT ALLOWS US TO NOT ONLY BE ABLE TO TRADE ON A SINGULAR DYNAMICS OR MAYBE FORMER FALSE MATERIALS, OUR SCRIPTING LANGUAGE IS COMPLETE WHICH MEANS WE CAN CREATE STRATEGY FOR ANYTHING IN THE WORLD. OUR BACK TEST GAVE US APPROXIMATELY 9% GAMES. WITH THE PRICE OF THE STOCK BEING ACTUALLY DROPPING BY 2.9% MEANING THAT NOT ONLY UNDER DIFFERENT CONDITIONS AT THE STOCK PERFORM, OUR STRATEGY ALSO GET A GAME. STRATEGY X ALSO HAS TOOLS TO BE ABLE TO PROTECT YOU SUCH AS MANUAL TRIGGERS AS WELL AS AUTOMATED MATERIALS. GREAT. GIVE IT A NAME, DATE ETC. ALL RIGHT LET’S MOVE BACK TO OUR SLIDES. SO, WE HAVE A SUBSCRIPTION MODEL RANGING FROM THREE TODAY TRAITOR AND AN ENTERPRISE FOR OTHER TYPES OF CLIENTS. OUR MARKET IS ESSENTIALLY IS AROUND THE $52 BILLION THAT TRADE BETWEEN THE HUNDRED MILLION EVERY DAY INVESTORS IN THE TOOL SPACE. AND BECAUSE WE ARE A SOFTWARE AND WE ARE BROKER AGNOSTIC WE HAVE OF THE ABILITY TO REACH GLOBALLY. WE HAVE APPROXIMATELY 500 MILLION. WHAT DIFFERENTIATES US FROM OUR COMPETITORS? IT’S NOT ONLY EASY TO USE BUT WE OFFER THE ABILITY TO BACK TEST AND GIVE YOU FORMAL FULL AUTONOMY AND ARE BROKER AGNOSTIC. PEOPLE OF TAKEN NOTICE AS WE GONE OVER 10,000 PEOPLE ON HER WAITLIST, HAVE SPENT ZERO DOLLARS ON MARKETING AND OUR CURRENT BETA HAS NET SCORE OF 7.5. OUR TEAM IS MADE UP OF A TEAM OF INTERNATIONAL RENOWNED RESEARCHERS, HARVARD SCIENTISTS, ENGINEERS AND BANKERS. WE WORKED ON PORTFOLIOS AS LARGE AS $200 MILLION AND A HUGE PASSION FOR THE SPACE. STRATEGY X IS DEMOCRATIZING AL GORE MYTHIC TRADING. TRADERS, INVESTORS GO TO STRATEGY X TODAY TO RECLAIM YOUR ALPHA. THANK YOU. >>I HAVE A QUESTION OF SOMEONE WHO DOESN’T TRADE. THAT MIGHT END UP BEING ONE OF YOUR 100 MILLION EVERY DAY TRADERS. HOW, HOW ARE YOU GUYS TESTING ARE TRYING TO UNDERSTAND REALLY WHO IS ADDRESSABLE IN THAT 100 MILLION? ONE OF THE THINGS YOU HAD UP WAS FULL AUTONOMY. SO DOES SOMEONE AND THE STARTER AREA REALLY WANT FULL AUTONOMY OR IS IT ACTUALLY TOO CONFUSING? WHAT ARE YOU SEEING FROM THE BETA? >>ESSENTIALLY FROM OUR BETA WE HAVE DISCOVERED A COUPLE OF THINGS. NUMBER ONE, YOU ARE NOT EXACTLY CORRECT BUT AND NUMBER TWO, STIMULATION TENDS TO BE THE MOST INTERESTING PART OF OUR FORM. MANY PEOPLE OF BEEN OPEN TO WHAT WE HAVE WORKED ON OUR STRATEGY X MARKETPLACE THAT ALLOWS YOU TO PARK THE MONEY AND IN WEALTH MANAGER ALREADY EXISTED IN STRATEGY. WE’VE BEEN THINKING ABOUT COMING UP WITH SOLUTIONS TO HELP WITH THIS PROBLEM AS WELL. >>CONGRATS. IN TERMS OF YOUR DATA, WHAT ARE SOME OF THE KEY INSIGHTS, HOW LONG WAS THE BETA, HOW LONG WAS THE USER, HOW IS IT IMPACTING OTHER PRODUCTS IN THE FUTURE. >>RIGHT, ACTUALLY OUR BETA WAS 200 USERS, IT WAS A LITTLE OVER A MONTH AND A HALF WAS OUR LATEST COHORT. FROM THERE WE DISCOVERED THE BACK TESTING WAS ONE OF THE MOST INTERESTING FEATURES. SINCE WE ALREADY KNEW AND SAT DOWN AND BUILT WITH THE IDEA OF LONG TERM IN MIND, COMING UP WITH MATERIAL SUCH AS WHAT WE LIKE TO CALL INTERNALLY THE EXTENSION SYSTEM WHICH ALMOST USES PEOPLE USE THE STRATEGY X TO CREATE ANY TOOL THAT YOU LIKE. THAT INTEREST HAS COME MORE SO LARGER CLIENTS. WEALTH MANAGERS, HEDGE FUNDS ETC.. AS WELL AS EVERY DAY TRADER. >>YOU SAY YOU HAVE 10,000 PEOPLE ON THE WAITLIST. HOW DID THEY HEAR ABOUT YOU? >>A MIXTURE OF DISCORD IS WHERE IT STARTED. ESSENTIALLY THAT’S WHERE WE DISCOVERED A LOT OF THEM. WE ARE COLLEGE STUDENTS SO HEARING ABOUT IT ON JOURNEY AND CHATTING WITH OTHER FRIENDS AND WHATEVER, HAS REALLY BUILT THE WAITLIST A LOT. OUR EMAIL LIST DEFTLY PUSHED IT OUT. >>WHAT ARE THE THREADS THAT PEOPLE TALK ABOUT YOU? >>ALGAL TRADING. AND PARTICULARLY ALBERT TRADING READY READ IT. ALSO THAT’S PLACES WHERE PEOPLE TO THROW US OUT OF NOWHERE. >>IS THERE SOMETHING THAT YOU WISH YOUR SOFTWARE COULD DO THAT IT CAN’T TODAY? THAT YOU ARE DEVELOPING? WHERE IS IT GOING? >>ONE OF THE THINGS THAT, WILL FRANKLY BECAUSE THE INTERNAL SCRIPTING LANGUAGE THERE’S NOTHING IT TECHNICALLY CAN’T DO IN THE REALM OF COMPUTER SCIENCE, BUT ONE THING WE ARE WORKING ON IS BEING ABLE TO MAKE SURE DESK COP CLIENT CAN WORK WITH OUR MOBILE SITE CLIENTS. OUR MANAGER HAS THE CAPABILITY TO USE TECH TOOLS THAT IT CAN HAVE MORE PORTFOLIOS IN THE SPACE. IT’S A PILOT WE ARE BUILDING UP A POOL NOW FOR AND WE ARE EXCITED TO KEEP PUSHING THAT FORWARD. >>WHEN YOU DREAM THE DREAM OF WHAT IT WILL BECOME SAY 10 YEARS FROM NOW. WHAT IS A STAND FOR WHAT IS IT DOING FOR PEOPLE? >>WHEN WE SAY WE WANT TO DEMOCRATIZE ALGORITHM THE TRADING. WE MEAN THAT SERIOUSLY. HE IN ONE DAY THE WHOLE MARKET IS NOT 80 8% BUT 99% BOUGHT. WE WANT TO MITIGATE THE SIDE EFFECTS OF WHAT THAT WOULD BE. TAKING THE CONCEPT HOLISTICALLY FROM ITS CORE IS WHAT WE ARE FOCUSED ON. >>YOU HAVEN’T SPENT MONEY ON MARKETING RIGHT NOW. I GUESS YOU GUYS ARE RAISING. TELL US WHAT THAT GO TO MARKET STRATEGY LOOKS LIKE AND HOW YOU PLAN TO APPLY CUSTOMERS? >>WE FORMAL B2C, NURTURE THE COMMUNITY THAT WE’VE DEVELOPED AROUND OUR PLATFORM IS THE NUMBER ONE THING WE ARE PUSHING FOR. WE HAVE AN EMAIL LIST ALSO DEVELOP DIFFERENT SORTING MATERIALS WHEN CONTINUE TO SPREAD OUR WORD AMONG THE CREDITS OF THE WORLD. AS FAR AS B2C AND SEE TO BE WE HAVE PEOPLE REACH OUT ORGANICALLY WHICH IS VERY INTERESTING. WE WILL PROBABLY CONTINUE TO UTILIZE THAT MECHANISM PUSHING FOR REFERRALS. REFERRALS BEING AN OVER ARCHING THING FOR BOTH. >>ON A B2B SIDE DO YOU THINK IT WILL BE MORE SMALLER TRADING STOCK AS OPPOSED TO THE BIG ONES? WHAT IS UNDERLYING THAT QUESTION IS WHAT IS REALLY, WHAT IS REALLY DIFFERENT AND REALLY HARD ABOUT WHAT YOU HAVE BUILT? JPMORGAN OR GOLDMAN SACHS OR WHOEVER PUT A LOT OF RESOURCES TO TWEAK WHATEVER THEY ARE DOING NOW? THEY ARE USING SIMILAR TECHNOLOGY AND ARRIVE WHERE YOU ARE. >>ESSENTIALLY A CAN BREAK THIS INTO TWO PARTS. I’LL FOLK THIS ON THE FIRST MOM- AND-POP SHOP. YES THE OUTBOUND’S TEND TO BE FROM SINFUL MANUAL TRADING. THEY REALIZE THEY NEED A SOLUTION BECAUSE THEIR ANALYST DON’T KNOW HOW TO PROGRAM A CODE SO THEY REACH OUT TO US ASKING IF WE WILL HAVE A SOLUTION. NEXT FOR THE LARGE DPMS. FOR THOSE THEY FOUND VALUE IN US IN THE FUTURE. MORE SO WE REACH A FORMAL CLIMAX IN TERMS OF USERS BUT FROM THE MARKET WE USE OUR LEARNING MODELS THAT WE ARE DEVELOPING IN-HOUSE TO BE ABLE TO PROVIDE MORE INSIGHTS GOING FORWARD IN THE MARKET. >>ONE MORE ROUND OF APPLAUSE FOR STRATA AT. >>WE HAVE ONE MORE START UP. THAT IS A WILDCARD STARTUP WHICH MEANS IT WAS SELECTED FROM STARTUP ALLEY. WE HAVE HAD WINNERS FROM THE STARTUP ALLEY. THAT DOESN’T MEAN IT’S NOT AS GOOD IT MEANS THEY FOUND OUT YESTERDAY THEY HAD TO PUT THIS TOGETHER FAIRLY QUICKLY. LET’S WELCOME THEM, THIS DART UP GRAY. PRISON HE GRAY. NICK McCALEB DRAGGED MEN NICOLE AND MARCO PELLEGRINI. >>THE WORLD HAS A MASSIVE WASTE PROBLEM. EVERY SINGLE YEAR WE PRODUCED 2 BILLION TONS OF SOLID WASTE. 60% OF THAT GOES TO OPEN DUMPS AND LANDFIELD INCREASING ECOLOGICAL IMPACT. IN PARALLEL, THERE IS INCREASING REGULATION FOR RECYCLING AND WASTE EXPORT. THIS MEANS THAT THERE IS AN URGENT NEED IN THE COMING YEARS TO SORT OUR WASTE LOCALLY AND MUCH MORE EFFICIENTLY. SO THIS IS WHY A GRAY PARENT COMPUTER SYSTEMS FOR THE WASTE MANAGEMENT INDUSTRY. WE ARE USING DEEP LEARNING TO RECOGNIZE DIFFERENT TYPES OF MATERIALS AND OBJECTS. AND TO INTEGRATE THAT WITH ROBOTICS AND SMART SYSTEMS TO INCREASE EFFICIENCY. SO SPEAKING TO DOZENS OF EXPERTS IN THE INDUSTRY, WE UNDERSTOOD THAT THERE WAS INEFFICIENCIES ALL ALONG THE LIFECYCLE OF WASTE. FROM SEPARATION ALL THE WAY TO THE TREATMENT STARTING WITH THE LACK OF EDUCATION, THE LACK OF DATA AND TRANSPARENCY, THE HIGH COST OF MANUAL SORTING AND FINALLY THE VALUE DECREASING EVERY TIME THERE IS CONTAMINATION. AIV COMPUTER VISION HAS A POTENTIAL TO SOLVE PROBLEMS AT EACH PART OF THE VALUE CHAIN. THIS IS WHAT WE ARE FOCUSING ON. SO STARTING WITH SMART BINS AND REVERSE VENDING MACHINES WHERE TECHNOLOGY CAN IDENTIFY THE WASTE AND DECIDE IF IT’S CONTAMINATED OR NOT MAKE OTHER DECISIONS. TO WASTE MANAGING ANALYSIS IN TRUCKS AND BINS TO GIVE MORE INSIGHT TO THE WASTE MANAGEMENT INDUSTRY IN THE WASTE PRODUCERS. AGAIN I HAVE ANALYTICS AND HOW TO EDUCATE PEOPLE BETTER ON HOW TO STORE THEIR WASTE. ALL THE WAY TO THE INDUSTRIAL WASTE TO STORAGE FACILITIES. WE ARE CURRENTLY 60% OF IT IS DONE BY MECHANICAL SORTING AND THE REST IS DONE MANUALLY. THAT’S A VERY HIGH COST OF LABOR, DANGEROUS ENVIRONMENT AND THE REASON WHY IT’S HAPPENING IS PART OF THAT CHAIN, TECHNOLOGY IS NOT ABLE TO SOLVE THAT. DEEP LEARNING AND THE SYSTEMS, WE ARE ABLE TO RECOGNIZE IMPURITIES AND INTEGRATE THE ROBOTICS TO AUTOMATED THAT AS WELL. FINALLY TO QUALITY CONTROL, WE ARE ABLE TO GIVE INSIGHTS ON THE LEVEL OF QUALITY OF WASTE. THE WASTE MANAGER CAN EXTRACT THE MAXIMUM VALUE. AS SOON AS THERE’S NOT 100% PURITY LEVELS IN THE WASTE, IT’S NOT WORTH RECYCLING AND IT WILL GO TO OPEN DUMPS AND LANDFILL AS WELL. WE ARE GOING TO SWITCH TO THE DEMO NOW. SO THIS IS OUR FIRST PROTOTYPE. THAT WE BUILT. BEING ABLE TO RECOGNIZE 10 DIFFERENT RECYCLABLE. THIS IS PD THIS IS A TYPE OF PLASTIC THAT YOU ALL USE EVERY DAY AND EXPECT TO BE RECYCLED. THIS IS HDPE A DIFFERENT TYPE OF PLASTIC AND USUALLY USED FOR MILK BOTTLES THAT ARE KIND OF WHITE WHITE. THIS IS THE OLD DAY& MOVING ON, WE ALSO INTEGRATED THIS DEMO. INTO ROBOTICS. AS YOU CAN SEE WE ARE ABLE TO RECOGNIZE THE DIFFERENT MATERIALS. THEY GO INTO THE DIFFERENT BUCKETS THIS IS BLACK PLASTIC WHICH WE RECOGNIZE TODAY. IF WE GO FORWARD, YOU WILL BE ABLE TO SEE OUR NEXT INDUSTRIAL USE CASE. SO THIS IS THE FIRST PROJECT THAT WE ARE DOING FOR A CUSTOMER. THIS IS A RECYCLING PLANT IN KOREA. AS YOU CAN SEE THIS IS A PLAN WHERE THERE IS MANUAL SEARCHING SO THE END OF THE CHAIN. TO MAKE SURE IT CAN BE RECYCLED. WE HAVE ABOUT THREE PEOPLE WORKING JUST ON THE LINE. THE REASON WHY THE SYSTEM COUNT RECOGNIZE THAT. THE MODEL WE BUILT GOES TO THE NEXT SLIDE AS YOU CAN SEE THIS IS THE MAIN MATERIAL I CAN THE DIFFERENT SYSTEMS RECOGNIZE THE IMPURITIES. THERE ARE SUBTLE DIFFERENCES THERE IS PLASTIC AS WELL. THAT IS USE ONE FOR MONITORING. SO THE MARKET IS REALLY VERY BIG WE’RE TALKING ABOUT A 500 BILLION MARKET. 2035. 40 BILLION IS THE WASTE SORTING MARKET. THE WASTE IS 6 BILLION. OUR CURRENT CUSTOMERS ARE PRODUCERS, SMART MANUFACTURERS AND WASTE MENU MANAGERS. WE ALREADY HAVE TWO PARTNERSHIPS TO WASTE MANAGERS. ONE OF BEEN MANUFACTURED TO RSV ONE AIRLINE AND ONE COMPANY JUST IN SIX MONTHS OF STARTING. WE CAN GO TO THE NEXT SLIDE. OUR TEAM IS COMPOSED OF A MIX OF TECHNICAL AND COMMERCIAL SKILL SET. WE WILL WORK TOGETHER PREVIOUSLY TO BUILD COMPUTER SOLUTIONS AND WE BELIEVE THAT WE WANT TO PUT OUR EXPERTISE TO WORK TO SOLVE THIS MASSIVE PROBLEM IN THE WASTE INDUSTRY. THANK YOU. >>HUGE PROBLEM, COMMEND YOU ON GOING AFTER IT. SOUNDS LIKE COMPUTER VISION AND ROBOTICS. HELP ME UNDERSTAND WAS PROPRIETARY ABOUT WHAT YOU HAVE BUILT? >>WHAT WE ARE BUILDING IS EEI MODELS. WE HAVE OUR OWN DATA THAT WE ARE CONNECTING. WITH SOUTH KOREA AND THE UK. WE HAVE A CUSTOM HARDWARE TO BE ABLE TO BE ABLE TO FILM AND CAPTURE THE DATA IN A VERY EFFICIENT WAY. WE ALSO HAVE OUR OWN FRAMEWORK TO BE ABLE TO GET TO VERY HIGH RESULTS WITH THE LOW AMOUNT OF DATA. >>THE QUESTION I HAVE IS ABOUT THE PRODUCT AND THE APPROACH YOU’VE GOT THREE BUCKETS PRODUCES MANUFACTURERS AND THE WASTEWATER. CAN YOU HELP US WHY YOU ARE GOING AFTER ALL THREE OR WHETHER YOU ARE FOCUSED ON ONE AND YOU THING ONE WILL DRIVE THE VALUE OF THE BUSINESS AND THE IMPACT LEX >>THEY ARE ALMOST NOT ON THE SAME LEVEL. THE WASTE MANAGERS AND THE WASTE FACILITIES ARE THE ONES THAT HAVE A PROBLEM IMMEDIATELY. IT’S VERY CLEAR AND INTIMATING THE TECHNOLOGIES WILL HAVE A THING THAT THEY CAN IMPACT ON THEIR BOTTOM LINE AND ON THEIR REVENUE QUITE QUICKLY. THAT’S HER FIRST FOCUS AND THAT’S WHERE WE ARE DOING OUR FIRST PARTNERSHIPS. THE REST ARE MORE PILOT WITH THE INDUSTRY SEEKING MOVING TO DIFFERENT TYPES OF MET WASTE MANAGEMENT SYSTEM. CURRENTLY EVERYTHING IS VERY CENTRALIZED. WE ARE SEEING A SMART BINS COMING THROUGH WHERE INSTEAD OF WAITING TO DO THE SORTING AT THE END, IT WILL HAPPEN BEFORE. WE WANT TO MAKE SURE THAT WITH THE SMART BINS AND ALSO WITH THE PRODUCERS, WE ARE EARLY IN THE GAME TO BE ABLE TO HELP THEM WITH THAT PROBLEM. >>FOR A FOLLOW-UP QUESTION. YOU GUYS ARE A SMALL TEAM, SMALL AND MIGHTY IS THAT DISTRACTING GOING AFTER ALL THREE? >>POSSIBLY, THIS IS WHAT WE ARE EXPLORING RIGHT NOW. WE ARE GETTING A LOT OF TRACTION A DIFFERENT AREAS. FOR THE NEXT FEW MONTHS WE WILL REFINE THAT A LITTLE BIT MORE. WHAT’S IMPORTANT, WE ARE SEEING OUR MODELS HIGH CHANCE FOR BETWEEN THE BASES. WE WANT TO KEEP OUR POSITION AND WE SEE PEOPLE TRY TO GO INTO THE INDUSTRY VERY DEEP INTO ONE WITH INTEGRATION HARDWARE AND THAT BECOMES VERY DIFFERENT TYPE OF COMPANY. WE WANT TO MAKE SURE EVEN THOUGH THAT IS NOT HER PRIMARY SPACE, WE ARE STILL STARTING TO UNDERSTAND HOW WE COULD GO TOWARDS THEM IN THE FUTURE AS WELL. >>WHEN YOU ARE PITCHING GRAY PARROT TO POTENTIAL BUYERS, WHAT IS IT, WHAT YOU THINK ABOUT FROM A VALUE PROPOSITION POINT OF VIEW THAT IS THE REASON TO GET EXCITED? IS IT THAT YOU ARE SAVING TIME, MONEY, IS IT EFFICIENCY? WHAT IS DRIVING THE DEMAND FOR THE PRODUCT? >>IT DEPENDS ON THE CUSTOMER. FOR THE WASTE MANAGERS IT IS VERY DIRECT EFFICIENCY. BECAUSE IF THEY ARE ABLE TO IMPLEMENT THOSE COMPUTER VISION SYSTEMS FOR MONITORING AND INTEGRATED WITH ROBOTICS THAT WILL IMMEDIATELY CUT THEIR COSTS. THAT WILL ALSO HELP THEM INCREASE THE OUTPUT IN VALUE THEY CAN GET FROM THE WASTE. SO THEY CAN GET MORE REVENUE FROM IT. THAT’S A VERY CLEAR KIND OF OFFERING. FOR THE PRODUCES LIKE FOR EXAMPLE AIRLINE, THEY WANT TO HAVE MORE, SMART BINS COMPANIES THEY WANT TO HAVE ANALYTICS TO HAVE A BETTER DECISION WHERE THEY SEND THE WASTE. FOR EXAMPLE, CURRENTLY SENSORS TO KNOW THE FILL LEVEL THAT HAS A HUGE IMPACT ON HOW THE TRUCKS ARE GOING AROUND. SO WE CAN SELL THEM SOMETHING CONTAMINATED OR NOT THAT WILL GUIDE THAT. DIRECT COST SAVINGS IS SIMILAR. >>IT SOUNDS TO ME THAT FOR THESE TWO TYPES OF CUSTOMERS, FOR THE AIRLINES AND YOU KNOW FOR THE SOFTWARE SOLUTION STANDALONE SEEMS TO BE SUSTAINABLE. BUT FOR THE WASTE MANAGERS, BUT BEING ABLE TO HAVE THE HARDWARE AND REALLY SORT THINGS, IS IMPORTANT SO HOW FEASIBLE IS IT FOR YOU TO GIVE SOFTWARE ONLY SOLUTION IF YOU’RE GOING AFTER THE WASTE MANIC MANAGEMENT? >>THAT’S A GREAT QUESTION. WE STARTED THE JOURNEY WITH THAT HYPOTHESIS AND TO MAKE SURE WE ARE STILL QUESTIONING THAT. FROM WHAT WE ARE SEEING IN THE FIRST PARTNERSHIP THAT WE HAVE, THEY ARE VERY HAPPY TO ACTUALLY HAVE THE ROBOTICS BECAUSE THOSE ROBOTS ARE ACTUALLY OFF THE SHELF ROBOTICS IT’S NOT A BIG EXTENSION. THIS ALSO GIVES DIFFERENT TYPES OF FACILITIES. CURRENTLY IN THE TWO PARTNERSHIPS WE HAVE IT IS DEFINITELY WORKING. IT IS POSSIBLE FOR SOME CLIENTS THAT WILL NOT BE SUFFICIENT. WE ARE ALSO PARDONING WITH COMPANIES THAT DO HAVE THE MECHANICAL ABILITY AS WELL. SO THAT’S REALLY IMPORTANT IN THE PROCESS ALSO. DO YOU WANT TO ADD ANYTHING. >>OUR FIRST CUSTOMERS WE GET A ROBOT. WE HAVE IT IN-HOUSE. WE KNOW VERY WELL HOW WE ARE GOING TO INTEGRATE. AND HOW WE KNOW IS GOING TO WORK. >>WE ACTUALLY DO THE RESEARCH TO TELL THEM WHAT NEEDS TO HAPPEN BUT WE DON’T DO THE MANUFACTURING. >>IS KIND OF HALFWAY. >>GIVE IT UP FOR GRAY PARROT. >>THANK YOU. >>THAT’S A STARTUP BATTLEFIELD. TOMORROW WE WILL HAVE THE FINALS. BEFORE WE CAN HAVE THE FINALS THE JUDGES HAVE TO GO BACKSTAGE, THEY ARE GOING TO FOLLOW ME BACKSTAGE AND HELP CHOOSE THE FINALISTS. ONE MORE ROUND OF APPLAUSE FOR OUR JUDGES. >>WHY DID YOU COME TO THE WORKSHOP? TO LEARN. >>I WANT TO BE WHERE WE ASK QUESTIONS LIKE WHY. AND THE BEST QUESTION I ASK YOU IS WHAT IF. IT’S A DIFFERENT WAY OF THINKING AT STANFORD THAN IT IS AT ANY OTHER UNIVERSITY IN THE WORLD. >>I REALIZE I WAS GETTING STALE SO YOU KNOW WHAT, IT’S TIME FOR ME TO MOVE ON. AND LOOK FOR GREATER THINGS. AND HAVE MORE IMPACT. >>AT LOCKHEED MARTIN WE ARE AT A MISSION. YOUR MISSION. WHEN MILLIONS OF PEOPLE ARE COUNTING ON YOU. LADIES AND GENTLEMEN. PLEASE WELCOME BACK TECH FRONT MANAGING EDITOR AND Mc JORDAN KRUK. >>HELLO. YOU GUYS IMAGINE IF I HAD ANOTHER SURPRISE GUEST FROM GAME OF THRONES WHEN YOU ALL WALK OUT WESTMONT WHAT IF THAT IS HAPPENING RIGHT NOW? YOU ARE A LITTLE NERVOUS? DOORS OPEN TOMORROW 730 WE WILL SEE YOU IN YOUR SEATS AT NINE. CAN’T WAIT TO SEE YOU. BYE. GOOD NIGHT, SEE YOU TOMORROW.

    Articles

    ? CRYPTO TRADE OF THE DAY ? Free Bitcoin Technical Analysis How To Buy Bitcoin Sell Cryptocurrency

    September 7, 2019


    THE BOSS OF BITCOIN!! What’s up everybody Hello hello hello Can you guys hear my voice okay got the chat up It’s kind of cool Does anybody know like of a countdown widget I Could use instead of this random website to take up half the window Make sure you hit that like button guys we need 75 likes get our cash winner you already know how it worked As soon as we get that let’s start the video and Show you guys what our breakout trailer today is to make some money. There’s one of those ones look this one’s solid So make sure you hit the like let’s see Turn the traitor, that’s pretty funny create the Oni Some find the traitor That’s pretty funny ready Find the traitor Hey, how’s that quality on this video is the quality good like the Pixels and everything or is it like really really blurry and sketchy. How does it look? How does it sound I? Just want to make sure that we’re good with everything Hopefully, we are Yeah a cloak just broke out. I put a chart on that one last week And then sure enough do you break out, but it’s gonna come back now, so it’ll be on the list You guys are pretty funny I Don’t know why it’s 360 I’ll be right back. I’m gonna stop it and pick it back up I’ll hold on I’ll reload it You All right This should be better. Hopefully there we go stream status good 1080. Let’s see Again I’ll I just got to spend like two days the problem What’s going on big Brian just landed in Beijing Wow across the world Still tuning in appreciate it brother Yeah does anybody know of I’m using OBS right now Does anybody know of any better software to use for live streams? I got this logitech New camera, which is decent right it says it could stream in 1080p but I need software that Supports it and I think YouTube’s native software for whatever reason when combined with OBS Does not support it very well, right? Which sucks Alright so here we go we are Wirecast yeah, I got like restream sure why because Yeah, the problem is like when I do it live the data gets crunched together and You know it doesn’t come out looking good. It’s a couple guys out there that figured it out But I haven’t yet Same quality issue I have right Okay, um let’s see we need to share this video to our Facebook page So we got 42 likes right now I’m gonna share this video, and we’re gonna get started Nice clean little quick little video tonight no Saturday Hopefully get out get outside. I’m gonna take my dog for a walk out. Oh, I’m going out there. Go get some sushi There you go I haven’t looked at komodo. Yeah, I may in the next couple days maybe tomorrow So we’ll say you might see them on an upcoming video pretty soon that is yet to be determined Shut up – Komodo Make sure you like the video guys we’re gonna go ahead and get started Just hit that thumbs up button that way everybody else that comes after you will see this video in their feet It’s a it’s a solid pick tonight For for some big-time profit in this market so what I’m doing now. I got to share this video on Our Facebook page and as soon as I do that we will be good to go Actually, I’m going to sign out This account Okay How’s everybody doing in the markets right now BK looking the ADX I already have Francisco are you the software guy the Charter G star what it do turn off chat yes There you go good Okay, yeah Yeah, thank you. You’re my software guy. I’ve seen some of the stuff. I think we messaged on Facebook You’re pretty you’re pretty good Do me a favor send me a message. I’m making a post on this page right now. I got a new Facebook page because the boys in blue Shut down my last one cuz they want me to make a fan page So they could charge me money to talk to my people and I’m not doing it I will make ten thousand fake email accounts and BK crypto traitor page before I make one fan page and pay the boys in blue to talk to my people Run tell that sorry Let’s go it out Stressful What’s up psycho sauce Crypto magic what it do? Hold on Francisco, I got a new I told her I got that new uh BK crypto traitor page, I need you to message me on that I want to talk to you about designing this software together But a boss method As soon as I can log into Facebook, okay? Okay, well I’ve seen your posts, and I think I saw the thing you put on steaming to yesterday everyday before I Follow you on steam it I’m only on there like once a week. Maybe has anybody used steam It does anybody know how to make money on steam it. I feel like it’s just like in Craigslist Where you got a few whales that make all the money and a few girls with their tits out that get like $12,000 for taking a picture on the beach, and that’s it Somebody posted on Steam and if that wasn’t you that was somebody else But I know you’re the software guy, so I wanted to talk to you anyway So um I’m about to post on our Facebook page. Just do me a favor message me on there Sorry to stick it so long guys. I got to like go in and authorize My other account to post to the board Yeah, I might have to start posting on library has anybody been on there yet Library d2 how does everybody feel about like these new? Platforms and portals that are coming out on the blockchain Someone keeps asking me about big quick and I have no idea A advatage account I have no idea what that even means So I’m not the guy you want to ask Sorry about this. I’m trying to okay finally goodness gracious Good that released it and took that long There we go I think Francisco, I just posted in a Facebook group do me a favor Message me on that profile BK crypto trader, and I wanted to chat to you about building some software together for this trading charting Automation I’ve seen your work. I think it’s really really really good And so that’s why I remembered you You have like a selfie picture like that of you somewhere, I think in the Facebook group, anyhow Message me write your name down Cool let’s do it oh Are we at 75 lights yet make sure you like this video guys 75 lights we got some cash money. We’re giving away That’s good We need our coin Yes looky that is how I clean my glasses Cookie you probably have the best best icon out of anybody in this group Well it won’t be about what I’m looking and Maybe you guys we could running us together I’m looking for software engineers to come together to build a platform that essentially streamlines the method that I used if you if you Consider the fact that the charts we read are is really just data. It’s like numbers, right? And we can build an internal we can just download the numbers through API build an internal algorithm to separate them and create our moving averages and then Put flags on the algorithm algorithm to highlight when certain events happen I’ve been designing this method For a year and a half now, and it’s very very very good. I just need some software behind it to make it to where you click a button and It does it for you In case Facebook is that of a hot chick 99 framework? Now I know what my girlfriend feels like That’s funny, I’m greens at night is actually really funny Sorry this is taking so long guys. I literally had to Make a new Facebook page just so I could do the stuff that we do every day Again the boys in blue wanted me to send my driver’s license passport Blood samples to confirm my other account and I didn’t do it out I told them how I’ll create 10,000 email addresses. You know 4bk crypto traitor before you know I volunteer to give up my rights But I promise we’ve got to get ready, hopefully you picked the day is worth it it should be this one Uh probably chart is probably the best the strongest one so far What up everybody no stranger to the joke yeah, I’m saying no stranger Perfect Francisco, see I knew you were too man. That’s what I’m talking about. I know you were too man. I Already build some stuff bitch right see that’s one that’s why I’m saying All right You can’t even load Excel graph will show you right right right? I understand that It’s not necessarily for trading it’s more so for the One I call that Correlation correlation Right Alright okay perfect. Thank you Michael for that Cool You can put your own settings and gun Bobby K. What is gun but I’ve never heard of it And I don’t I don’t know what that is it just beeps sometimes out of nowhere BAM hmm Sorry guys I get way too distracted Facebook coin market cap Auto trader platform Okay, yeah, we could do that real quick. I’m gonna. I’m gonna do another video just for a trading view Where it’s like an updated tutorial? It probably is boys and blue see the boys in blue not promise Just want to take over the whole browser don’t even make no sense Don’t even make no sense All notifications all sounds on who wants that You know I forgot Facebook didn’t used to be like this horrible. It really didn’t like back in a day. It was actually cool Like when I was in college 2005-2006 You can actually get laid off Facebook. That was the tender of 2006 2007 It makes you my girlfriend ain’t listening That was like that was that was that was out like like you know Now you’re gonna miss my birthday Yeah, and that’s that’s the point of my method is to empower the people reading the data It’s not a trading mechanism. It’s more so a correlation System that helps you understand and look at the data differently all uniformly In a different light. That’s it So hopefully me and Francisco be able to build that out Francisco if you ever pull that off man, you’ll be able to retire pretty quick I’ll buy you Tell you what Francisco if we could build this platform out I’ll buy you imagine go Ferrari I said in my last videos clowns drive Lambos bosses drive Ferraris. You know I’m saying I’m getting one chromed out all gold you know just because So I buy you one if you could build what I’m talking about what I’m thinking about what I got up here what I’ve been sitting on for about two years You would do it pretty well for yourself ticker alright Okay cool. We’re good. I’m sorry this took painstakingly long So this platform will show you all the informations and probably some points to get out. Yeah exactly It’ll show you the relationship between it’ll show you different metrics ratios However, we want to communicate the relationship right red light green light yellow light You know if we wanted to do it in Dexter where it’s like 3.75 point Oh whatever who cares But essentially it will give you some internal metrics to calculate What we do already you know when I draw lines on this chart. I’m basically Internalizing the metrics right when we look on this chart, and we see you know this moment in time where the green the red Crossed and broke down that orange. That is internalizing the data right and so now I want to design a platform that does that for us and describes it and A uniform system with relation to the whole it’s not that hard to do I Forgot can’t use tradingview on these free accounts They got so many ads on there it almost make it not worth using Like if you’re not paying $20 a month to use tradingview, and you got to put up with them ads I can’t do it Like I would pay $20 a month just not to do it and I would pay a Lot more to build my own platform, which me and Francisco about to do To compete with him Ripple’s about to bust out maybe If that if that happens, that’s good if ripple busts out and Bitcoin breaks down that’s gonna be a lot of money flowing into these altcoins guys and If you’ve been following me for the past week you see that that’s all we’ve been buying up is all coins ready to break out, so I hope it does I hope Bitcoin goes down to 3,000 and I hope ripple goes up to 30 cents that means I got about 20 billion dollars coming between my art coins and I’m ready Alright, but if you a long story short the reason I pulled this up if you want to turn off the If you want to turn off The candles this is where you do that right here You click that little button up there Right right by the times you click that down arrow for bar styles And you say you can either do candles But I prefer the line so that’s how you do, they have different styles like one of them’s really interesting the Line break I Was looking at this one for a while to try to see like how this stuff works That one’s kind of cool But I haven’t really looked at that that one’s like a completely different method all together, but look at that. That’s so beautiful like once once that thing dovetails off Vivix like has no choice, but to Keep trying to break out you know I’m Sam Like that’s how it works That’s how it works it follows a path of least resistance least resistance is to keep doing that so once that orange line You know happens, then that’s what’s gonna happen by pivots while you can As long as it’s under five dollars It is a buy once it gets right about there, then it’s gonna have to make a decision It’ll probably consolidate to right about there, and then it’ll probably keep going but pivots for the rest of this year probably a solid buy Hey, so this is good this is good, let’s go back to our Bitcoin And with that we got that we got that Vivix where we got pivots fix and then oops So hopefully that answered your question on how to make it happen And we are good to go here All right so question of the day let’s let’s throw it back out let’s throw it back out there What coin is is One of your lockdown coins that you think we should have included in this in This challenge right, and I haven’t told the coin of the day, so I want to hear your number one coin And then if our coins match You’ll have a good chance of win it right Let’s do that so we go come back in two minutes that’s the question of the day jump in to check make sure you like some like this video right now hit that thumbs up button guys cuz We coming back in two minutes, and I’m giving away some cash money That’s gonna be pretty cool Live from the USA hoping you get paid every day this is the boat and I got the number one web site on the Market for you to cash in and cash out in cash money for Bitcoin. It’s called big quick CEO There’s a link in the description and it’s in the number-one comment on this video you go to their website You’re gonna see this right here You click on buy And you tell them how much money you want to spend and it will automatically convert that amount in a Bitcoin Once you have that amount ready you let them know how you want to pay for it You can either do a cash deposit or money transfer I do cash deposits through a major bank right here in the USA. You pick what bank you won Personally I use Bank of America because they have so many locations And it’s quite convenient tamasam a big thing to note here is you only have three hours? To get that cash money into the bank account that they send you They’re gonna send you someone else’s bank account at Bank of America who’s a member of Bank of America and you will put your? Information into the system so that once you deposit the money into their account they send you the Bitcoin So this is how it works you put your state your email address they will verify Any phone number you give them with a simple six digit text message? And you also put your Bitcoin address notice that there is a two percent feed this morning when I send five hundred dollars They charged me Ten dollars to send it, but that’s not bad at all in crypto land so you click on next right thereafter It’s confirmed And they’ll send you an email And notice this is cash only you guys don’t go online and try to transfer it into the person’s account because it won’t work You need to go into a bank with cash money in the email that they send you they’ll put their name They’ll put a 12 digit account number. They’ll put that holders stake That’s all you need and they will also confirm your Bitcoin address where the money will be sent Biggest thing to note here is that you will need to receive the upload link And send them the receipt of the transfer This is what that looks like when you go to Bank of America you fill in copy and paste the information from that email Verify the number and all you do is you take a picture of? The deposit receipt after you send it you type in that little no refunds for a big quick on Bitcoin boom Upload it into that email right there using that link and Congratulations, baby. You are now a part of the money team. This is the boat? With another breakthrough website for you guys. I hope helps, and I hope you will be profitable and prosperous in the market. Let’s go Like a boss That’s right live from the USA helping you get paid every day This is the boasts of Bitcoin the creased o of crypto is your boy beat cake and if you don’t like me you Must not like money today is September 9th. I got a smile on my face because every day this Sun rises I’m able to make a little bit of money. I’m able to help some people you know and every day I’m fortunate enough to grace this microphone with my voice is another day that somebody else is fortunate enough to prop it as a result and Today is no exception If this is your first time tuning in Congratulations, baby. You are now rocking with the best my name is became my friends know me That’s a crypto traitor, and I am the boss of these charts as you will soon find out in so much that I Help my people get paid seven days a week And like I said today is no exception so all we’re about to do right now is jump in the chat And pick our winner today the question was What coin? Is the number one coin for you that we should definitely have included in our? Trading challenge right and you can see the answers are coming in The answers are coming in so I’m up make this screen real big real quick just so I could try to see some more people and First one I see that got my coin of the day is gonna be the winner let’s see here Let’s see here Who do we got I just saw it, I just saw it oh Don’t oh, don’t oh Don’t which one. Do you guys think you guys see a lot of good coins? I bet a lot of good coin Pam jingis Freedmen’s said s. I a and When you look at the chart It’s ready to do some damage so what I’m gonna do right now is I’m gonna throw you up In our Facebook group the number one Bitcoin group in the world And I want you to do one thing go on that group Like our comment and send me your Bitcoin wallet. I am going to Send you a couple bucks BTC out my wallet to yours as a token of my appreciation I can truly do Value you as a community member and thank you for for participating in our contest this evening So let’s see Bitcoin winner of the day BAM and just that easy You can see it’s just that easy to get paid again a lot of people Like to make things pretty complicated. I like to keep things simple and one of the simplest things I like to do the most is make money so with that being said let’s go ahead and get straight into These charts and you will see why asi eight Is ready to break out and it’s ready to make us a lot of money as a result what we’re gonna do right now is We are going to go to trading view dot-com I’ll have a link in the description there for you that this is your first time tuning in you click on over here We’re gonna type in see a coin si a – Bitcoin on bit rates BAM Let’s see what it looks like No sort of candles on this when I haven’t sold two candles in a while, so here you go and what we’re gonna do is we are looking at a Three hundred and forty-three minute chart on trading view This is the boss method that I’m using it’s a patented intellectual property owned by Brendan Kelly LLC I use it for the benefit of society as a Person if you are profit-seeking entity you may not use it you do not have my permission However, if you’re just a regular person trying to pay for your kids to go to college Or you know trying to get yourself out of debt by all means, please use it. It’s quite empowering and it’s quite accurate Long story short when that green lines below that orange line you sail when that green lines above that orange line Just like it was On our last little break out you buy, right? Using these three trading averages seven 21 and a 77 so here we go, right Training view comm link in the description how to chart like a boss a lot of people may notice The first two minutes of this video I spend you know I introduce a bit quicken and how to buy Bitcoin you have to realize that this community is growing by the thousands every day and there will be a point when it grows by the Millions every week so instead of me taking five or ten minutes every single video or instead of you know new people coming into the Facebook group and s in the exact same questions You know I tried to be proactive in educating people and big quick is by far the best Easiest cheapest way to buy Bitcoin with cash I’ve come across if you have a better way put it in the comments And I will evaluate it until then that’s what I will be and it’s not advertising because they’re not paying me That’s what I will be educating our community on So there you go See you coin BAM Let’s look at this thing right now if you know anything about the way these charts come together You can see that this thing is setting up very very nice to actually like that set up right there that looks pretty good right This thing is coming together pretty nice For a big time reversal right before this little market you know Right before the market turned over see a coin was one of the strongest coins You know wanted strongest performers in the market and since then This thing has completely fallen off the wagon this thing jumped up a hundred percent in a few weeks You know and it had its strongest line I remember I was watching this line so much a lot of people are watching that line throwing money in trying to make some money Thinking that it was gonna carry there And it just fail and it took so much money with it right and now this thing is literally at The bottom I don’t think it could go any lower it hasn’t Gone much lower what I’m gonna. Do now is I’m gonna jump to a twenty one minute chart. Just so I can see How Lotus thing actually went before There you go, that’s what I wanted right there, okay, so it’s gone a little bit lower, but look at that there and there and Knowing how to use charts work? that is Our bottom right there because that’s the area that the orange decided on two separate occasions Where the green and the red caused it to break up and even you can even take it back one more you know three occasions and So what I see over here is that’s where that green line had to honor you know with that lowest candle dip So this means that essentially we are very very very close within a few percentage points of that bottom right you see that which is exactly why you want to dump as much money as you can right there and Just sit on it just wait This thing is broken That’s for sure but it has to be rebuilt at some point and my estimation is that as this thing dovetails and those green lines Continue to push it higher and try to break out that orange will have no choice But to eventually do something like that it won’t be that quick But it will eventually do something Like that right and that’s the only reason that’s gonna happen is because both the green and the red line and It’s already done it once But I’ve under that orange The green and the red line Will be pushing it higher and higher and higher and Probably on the third time is when it normally breaks out right so we already had one attempt right there We’ll probably get another one Right there But then by the third time that thing happens, which is essentially right? There is when you’ll see that orange give in and then we’ll have a pretty big recovery now The one thing I said before on another video was that SIA when it was going down it basically stepped down like an elevator so these are the levels that it will have to clear on its way coming back out right and One way we notice is when we bring it in like that You can even see like this thing is true to itself break down Break down and that’s when you got that little spike right there for our breakout You see that All I did was went green to orange break down green to orange break down. It’s like in math negative plus negative What is that equal positive? Oh my god when we passed that point in time BAM? We got a positive reaction? energy Transfers from one point to another through these charts. This is the boss method right? And so in seeing this stuff, but you can even take that line throw it up top Do the exact same thing and you can see that second wave that we got as a result? When that candle hit the bottom of it it bounced off again So what does this mean this means that SIA is definitely setting up? But there are a lot of Internal problems and turbulence is that it will see along the way a quick way we can do this without getting way Too complicated is just freestyle on a Fibonacci and see What the charts tell us so what we’re gonna do now is go to break down To break out and See exactly That’s actually a pretty good line see exactly where these levels are as you can see that blue line is a solid ceiling you guys That’s a very very very solid ceiling so that blue line is gonna Be hard to break through and come in before that right before on top of the money zone was our Major floor, so that’s gonna be a major ceiling right so essentially we’re looking To spend a little bit of time Trying to break through that Green Line, which is is that exactly what that’ll be right there and once we do that We’re basically gonna have to double the amount of time we spent consolidating On top of the money zone will basically have to double that amount of time inside of it, right Before we have a legitimate chance of breaking out a lot of this will be dependent on the market but long story short Once this thing fully recovers we’re almost guaranteed to end up in there, right Which will essentially be? We should get there right about there 45 days 50% that’s not bad And then again we also do have the chance to do something crazy like that You know if something stupid happens, that’s not completely out of it, but worst case scenario we should be looking at 50% in about 45 days and given that this thing is at rock bottom prices that comes with about 0% risk right and that is how you chart like a poops oh? So I hope you guys appreciate that you know see a coin Long story short before this little Fiasco with Bitcoin cash and the market turning red You know and all this all this nonsense with icos see your coin was was was bang You know this thing went from 300 to 450 from 450 to 820 you could check my trading view account I predicted that like a boss back about two three months ago You know now I’m predicting a breakout of about 50%. You know over over the next six weeks, which is which is pretty sad That’s pretty solid. That’s a that’s almost a zero risk investment, which is essentially guaranteed money So that’s pretty good. That’s pretty good with that being said I am coming back to The chat so if you’re in attack right now shout your country out and we are coming right back to you Let me jump into our community. Just to show you two different things We have to stay empowered today to stay profitable in the state prosperous in the market, right This is our Facebook group you guys. It’s called the number one Bitcoin group in the world That’s the name of it right there. You can join it. Please come in the doors are always open we got about 10,000 of my best friends that come together seven days a week to make each other money you know and so It’s pretty cool. It’s pretty cool. You know we got guys on here posting some real-deal charts and actually you know this guy I’m just now But he posted this chart I think a few days ago. That said this one is ready to take off and guess what it is see a coin To where he couldn’t he completed a completely different analysis that basically shows that nice bell curve of support Right that it’s gonna be bouncing off of going going up and in the next couple months I didn’t even see this before I did this video. I completely forgot about it so it’s good to always see different. You know Opinions and interpretations that oftentimes point in the same direction right so come on into our community. It’s an amazing community, right? One of the things I did want to include In this is our Products that we have for community we our website boss of Bitcoin comm go there right now You click on that homepage you see my man right there suit it up suit it up G’d up from the feet up wearing the red white and blue looking like the American Dream You know putting on for his hometown in a skyline office They says somebody got to be the boss and I think he’d do it pretty well So this is a few of the packages he put together for you the first one guys. It’s a banner This thing is called the profit package and it is Consistent of 10 pigs you guys 10 pigs when the green is above the orange these pigs essentially run the market and That’s why it’s 10 of them because all of them aren’t gonna be hot at the same time, but all we do is we jump From coin to coin and in doing that you can see that that profit Skyrockets we got about 3 coins and it might be for now that are up about a hundred percent in the past two weeks That’s pretty good. That’s pretty good so 25 dollars you’ll have this list and you will be well on your way to being profitable in the marketplace in addition to that we got a New list you guys I put together called the dream team. You know. This is the second round third round of money That’s coming into the market a lot of these coins are just one or two dollars a piece so you know you could go in and scoop up the whole list you know back when I put this list you could buy a Whole list with a $20 bill you know and that’s what they talk about it started with a dollar and a dream So as long as you believe these coins will achieve And they will ultimately be the coins to make the profit package you know two three years from now But for now they’re on the dream team so that’s another list if you’re looking for long-term Profitability and prosperity and then after that we have our one-on-one meeting with BK you know every day I’m doing two or three meetings a day with people from all over the country all over the world And this is how this is how you set that up? Too late’ was lonely so she came she said BK. You’re in way too many meetings. You know take me all in the Fox You know even though we took a long nap today, so you paid $25 set it up and The details are in the description and we will be face to face spending about an hour to make you profitable Right you click on that link it’ll take you to a calendar to Open my personal calendar up to you so say you wanted to do something Wednesday afternoon You know before the kids got home from school 1:30 p.m.. BAM click that button and we are good to go Look like a statue right now. This is Tula by the way This is the the the the crypto mascot you know So there we go And with that being said I’m gonna take it back to the chat Let’s see who we got rocking out with us to the ones the plays she said I’ve been on this computer too long And I can’t stop petting her either, otherwise she gets she doesn’t like that Okay, so here we go All right all right who do we got rocking out on the channel today? All right cool BAM. Let’s see Estonia Morocco liberland Wisconsin is in the building shout-out to my Badgers up there Wisco in the cheese State Romania sunny Coast, Australia Portugal San Diego Slide town GA Vegas shout out to the 702 Houston Netherlands, Missouri ATL one time, Virginia, Pensacola Canada big in the building and Romania jerk money is gonna close us out Thank you so much for joining us everybody Me and two of the neat that need to go outside and enjoy a little bit of Sun We got left on this Saturday. I sincerely do appreciate you all support In the community cookie message me on Facebook. I’ll get that to you and but that being said Is about that time of the date isn’t your boy? BK signing out no matter where you stay from Brazil to the bay in California a Good night. Good morning and good day I appreciate the time subscribe share this video if you appreciate mine till we meet again stay cryptic y’all these

    How to Trade Bitcoin – Day 21?? Official Bitcoin Price Explained Profit Bitstamp Bittrex Tutorial
    Articles, Blog

    How to Trade Bitcoin – Day 21?? Official Bitcoin Price Explained Profit Bitstamp Bittrex Tutorial

    August 31, 2019


    THE BOSS OF BITCOIN! yo Hello hello it’s up everybody oh wow that Loaded up real quick Real Nice alright alright Get in there Siberia Went Down well Hopefully You Didn’t Sell it You Guys Have to understand that the trades we Do Learn That One day to day trades? so if it went down it went down but the chart Says it’ll go up So Just gotta wait on it No problem Caesar Pay for Yourself three Times over That’s What we Here for Man That’s what we Heal folk? Make sure you hit that Thumbs Up button we’re gonna go take too much time tonight it’s already late xr pay Still Good Z cash Should Be Good Let’S look and See cash i haven’t even looked at That in a While Oh yeah it’s looking decent It’s good it’s not gonna all go up at Once It’s actually a Flag Pattern so you Know All We Need is that 77 but What’S gonna Happen now as long as That 3 is staying above i Already Bought some of This but so i’m sitting Pretty Good on it As long as That 3 i thought it’s on back there as long as That 3 is staying above You Know that high that means that 77 is about to Jump Out and a minute That 77 Breaks above The 231 Houston We Have Ignition so it’s Just gonna trade Sideways for a Little bit but you see that 77 is catching up with that 231 and that 231 is even going Up so this is probably a Great time to buy Z cash even if it drops to like right there it won’t Drop Much Lower Than That But Yeah it’s Good time to buy i already Bought some hopefully you guys can Make some Money on it Hey I need to Jump Over Yeah Make sure you like This video Guys it’S 10:00 at night i could Go to bed if y’All ain’t trying to like this video I Just i Just go to bed come back Tomorrow? so so i Appreciate It Every Thumbs-up i could Get its slim Pickings Out Here at 10 p.m. Trust me Why would you only hold One coin Why not hold Half a coin in both of them and if You only hold One coin Aetherium or ripple That Doesn’t even make Any sense like a theorems Like $307 and ripples Like 20 cents Why would you want to hold One coin Hold as many as You can That are making Money or about to make Money The minute They start Losing Money Get Rid of them Hmm No i bought Z cash down here i bought i buy when the Green Breaks above Breaks Out of That orange So i actually Bought Z cows i think down here somewhere 52 54 somewhere in there Maybe 58 but i think i know It did hopefully i didn’t buy it at 58 i think i bought it At 54 i think That Was like One of The best Buys i saw on the Market that day 54 for some Z cash i’ll take That Seven Days Out the week If i was swinging It i Just i Just don’t trade Every day anymore I’m like I’m looking at Charts and making Videos but you know Ideally i would Have caught that Up there got out I’m not worried about it i don’t Need to make Every Penny a profit i make enough I’m decent But it’s going Up there it’s going back so won’t it won’t take It long. To get there probably a Couple Weeks 79 81 somewhere in there Let’S check Out atx People stressing Out about atx Why would you okay Yeah This is what we’ve Been waiting on like Why would you want to sell It now like That’s what we’ve Been Waiting on Let’s Get Paid Like i Said When we Break Out That’s our cell zone Up there so if you wanna sell now you can i Mean Cuz the Way it works no it’s do Let’S look yeah This is the Money zone That’s where we Get paid at it’s about time we start cashing Out on some of These did we Buy Z cash We Ballsy cash to bitly Then we Buy Zeke has to like point oh five four Let me put This time her up real quick We Didn’t buy z Things And As he – bitch oh? Hey Hmm That’s my Bad i Bought It for Myself That’s for sure Sorry Mm that Sucks Um but Yeah this is Good This is still a Good Deal If you’re if you want to sell Let’s see when this Thing Pump It goes so like don’t Don’t be scared once you start making some Money? you Know What Is this how much profit is this when did we buy this Thing atx we don’t Have This for a While What’s our price on ats Let’s Jump Over to What’s the name? Yeah That’s Why i thought we Bought zeke Ass i thought we Bought zeke Ass Take some profit and run Yeah Let’S see we don’t have it on here though We didn’t. Baazi – Kind of Swarm We Bought the Mz calves All Right So atx we oh Got that ain’t. Go who was that telling to get atx i Just told Somebody to get some atx Dang Mmm Jesus That’s a Lot of Money Right There That’s a Lot of Green That’s how you know it’s about. To go all Red What we at 5% There’s a Lot of Green Right There see on Days Like Today This is good this Happened Days Like Today is when you got to look at consolidating you Got to cut the fat The Ones that are Up the most Twenty-four hour profit Loss total value price sold Gnosis we Didn’T Sell Gnosis yet did we So this is where you get into trading Guys Congratulations welcome to the party we officially Here we’ve Got a Nice portfolio Got a Nice day of Green you see we are beating the Market Right Now our portfolio percentage Is 5% Bitcoin is still not above Water It might Be at 1 or 2% maybe But we’re Beating the Market Right This is what we do so Bitcoins its Kind of Pullback But This is When Honestly This is when you want to sell a Lot When you’re in the Green like this you want to get rid of the garbage golem Network Token our Gnosis okay so Z cash Was a Good Long-Term opportunity but i didn’t pick it for 100 day challenge Well There You go all right My Bad Um And Honestly okay Let’s Go ahead and Get Started Well uh! Just use this as Kind of a Review day for Our Hundred a Challenge and then I’m gonna do a quick coin and then That’s gonna Be it ripple Uptrend 1801 atx and Steer Iam What is that 24 hours Hmm yeah okay be back in two and a Half Minutes Live From The usa hoping you get paid every day This is the boat and i got the number one website for you to cash in and cash out in cash Money For Bitcoin it’s called Big quick dot ceo There’s a Link in the description and it’s in the number-One comment on this video? You Go to their website you’re gonna see this right Here you click on buy? and You tell them how much Money You want To spend and it will automatically convert That Amount in a Bitcoin Once You have that Amount Ready you Let them Know how you want to pay for It you can Either do a cash Deposit or Money Transfer through a Major Bank Right Here in the usa you pick what bank you want And it’S quite convenient to my house a Big Thing to note Here is you only have three hours to get that cash Money Into The Bank account that They send you once you Deposit the Money into their account they send you the bitcoin notice That there is a Two percent fee this morning When i send $500 they Charged me Ten Dollars to send it but That’s not Bad at All In crypto linen so you click on Next right there after it’s confirmed and They’ll Send you an email And notice This is cash Only you guys don’t Go online and Try to transfer it into a person’s account because It won’t Work you Need to go into a bank with cash Money in the email that They send you They’ll Put Their name They’ll put A 12 digit account Number They’ll Put that Holder state That’s all You Need and They Will also confirm Your bitcoin Address where the Money Will be sin Biggest Thing To note Here is that You will need to receive The upload Link And Send them the receipt of the transfer this is what that Looks like all you do is you take a picture of The Deposit Receipt After You Send it you Type in that little no Refunds or big quick on bitcoin boom Upload It into That email right There using That link and congratulations Baby You are Now a Part of the Money team this is the folks With Another Breakthrough website for You Guys i hope It Helps and i hope You will be profitable and Prosperous in the Market Let’s Go like a Boss you What will edit that Part out Live From The usa helping you get paid every day This is the Boasts of Bitcoin the Crystal of Crypto is your boy bk and if you’re like me you Must Not Like Money It is September 27th day Number 21 and we are right Now live on the air With Everybody in the Crew you can see They Saying no sound you’re muted i know we fixed It we’re Good we’re Good you Know they Say bk You gotta Jump on these Charts We May Get some Money Everything is Green i Say i know Guys i know i know That’s Why we bought you know That’s why we Bought Atx Like Two Weeks Ago i Saw It coming you know i had this one i had This One right Just trust in the Boss Y’all sin and i will Lead uS to greatness we Will Get there together If this is your first time tuning in Congratulations Baby You are now Rocking with the best My name is bea cake my Friends know me as the crypto trader and i am the boss Of These Charts as You Will soon find out Every day I’m Able to grace This microphone Wit my Voice is another day Somebody can Profit as a Result and Today Is no Exception We Will be getting to our question of the day in a minute to pick our cash Winner but first i wanted to Jump Over Over huh to our portfolio Right Let’s Check Out the Money Let’s Check Out the Money Right You Know i’m Saying They they Said they said bk yeah i’m Saying What we Will be about 20 Days in of six Percent Across Like 18 18 holden’s That’s not Too Bad That’s not Too Bad You Guys considering considering The price That Bitcoin Was at Well We Always started and i don’t think it’s above That Number Right Now that means we’re Beating the Market That means we’re Beating the Market and so on Days Like today Days Like Today It’s really When you know yes you start training Right Now that we made a Little Bit of Money Now that we Know we’re doing Better Than Average so Just ha tooling down on bitcoin Said they’re gonna he Said They’re Just gonna cash in on bitcoin and you know buy it at 4200 and hold It Forever cool Good Great Thank you right well we’ll we’ll Make our Money and in the meantime But Days Like Today is Kind of When the rubber Meets the Road and decisions Need to be made on Which Way do you want to go Right The reason i Picked a Lot of These coins i told You Guys Early on Was not because i Expected them to Make Immediate profits What i was Doing Was i was Diversifying Our Exposure to the Market knowing that a Few of them on Days Like Today Would Be The ones to break out you can see a dx neo Tynix artur You Know to what i was pointing we Didn’t Picked in the last two or three Days you Know so as We progress Through This Thing you Know Early on that first Week i was setting Up some home Run swing see it coin The Theory of Classic Bitcoin cash if They would Have hit we Would Have hit it hard But They didn’t? so you know but Towards the end of That Second Week you know i was Toning It down i was Narrowing that scope to say okay What’s gonna Hit in the next five Days? You Know cuz we Need to be making some money and sure enough a Few a Toes did for us Now iDeally we Would Have Spent Less time Waiting for you know the small ones and you know Bought in Double Down on Some of the Bigger Ones we can Still do That Right We Will be Doing that in the future but i don’t want To do it yet Right i Just wanted to show you guys how to build any collecting portfolio we have? you Know no Joke Probably about 20 different Solid Currencies Right Now solid Cryptos in this in this Gig Right and you can see we more Red more Green Than Red so That’s a Good Sign That’s a Good time But Now we start talking about the Psychology of diversifying Your assets with Regards to the Market Right Now you Start Looking At Longevity Now you start Looking At profitability Now you start Looking At Exposure and Opportunity in so much to where today is a day you Need to cut the fat Right you Need to get rid of the dead weight on Days Like Today When Everything is Green you Need to be chopping off as much as you can of the dead weight that was Holding you down When It Was in the Red and this is when you sell you guys You’ve never sell in the red You always sell in the Green right and so That’s the first? Lesson of Today Is When When the Market Bounces Chop off that Dead weight is like Gangrene is like It back in the day if you Was a Pirate you know i’m Saying Just Sailing seas you’re looking for the Booty right and you Got gangrene on your leg i am Chop off that Leg Right Throw It in an ocean Let The Shark to get some food and keep it moving so right Now we’re gonna look at chopping off some of This Dead Weight Not Every coin on this list Is a Winner right Now and as a Result They Get the Deuces and Just Looking At This list The Way i’m gonna do it it’s two Ways you can do It Instead of Going Through Every coin You Know trade By trade Chart By Chart What i’m gonna do Real quick is Go to change and Then Go to price and What i want to do is i’m looking between the two of these and i’m seeing where the biggest discrepancy Lies Right There look at That We Click It One more time and Now you can see the coins that are in the Green today But Over the long Term Have hurt you the most It’s time to get rid of That right Because more Than Likely That’s Just Intrinsic Momentum From The Market Itself That Pushed that coin up it’s not Necessarily The strength of coin if the coin was that Good It Would’ve did it Already But the fact that It needed the Market to do it and It’s still not Number 1 or 2 on our list it’s Just somewhere floating in the Middle it’s hiding in the Shadows time to find It Out Stop It i’ll Get out of Hell Mysterium You are gone Civic you are gone i Just Like Change My Voice sometimes and Make It more Dramatic so i Don’t want to sell more Than two in a day I know Everybody’s Up here looking at This One obviously That’s the low-Hanging Fruit? Where did we buy this Thing at We Bought it at 161 it’s down to 130 the Only reason i like This as i looked at The Chart Yesterday and The 231 is Actually Pretty Flat Now so if it’s ever gonna go up its gonna go up when at 231 is flat However when you look at Mysterium Civic There’s Still a gap Between The 231 and a 71 Which means it’S some Dead area that That Candle Would Have to feel that that 7 would have to crash Up and down to get some momentum So you know let’s Just Check out civic because a Couple People wanted to Jump on that Real quick so let’s see simek Actually Let’s do this i’m gonna do a live poll in the chat Right Now What do You–What coin Should we Drop Civic or see a coin I gave you my rationality for both of them Civic Yeah It means Civic it’s Just it’s hard it’s it’s Just It’s like a love-Hate Really Like Like See That’s what i was talking about with Civic it’s steel it Just broke Today But It’s still in there quicksand it’s like in the same limbo bitcoin Is in like It broke out but It didn’t Really Break Out bingo nowhere It can’t Go nowhere Until that 262 The Two 261 Clears It Till It gets Out The White you know then we Got Money on Money we’re not there yet so you Know if We look at see a coin The Bitcoin That’s the Same Thing Damn That’s ugly Goodness gracious Let’s look at mysterio Oh boy Only reason i like to see a coin more Than Civic se is Because Our 21 Is floating it’s about to cross the 77 That’s gonna Jump The Seven and I’m hoping we Could Catch It Up there somewhere and Jump out up 25% in a Few Days Right I hope we can Do That That’s my Plan I don’t Plan on Keeping This much Longer but I’m Just waiting i want to wait Just a Little Bit more to Where a Civic it Already Broke out in that White Mysterium is Ugly too But mysterium Not 77 is flat So that At Least Gives us a chance that means is even heat This Thing might Hit us upside the Head again Is either Go break Out or is go break down but we do have a Lower bottom over here? So we Got That going for us The 261 Just Broke down yeah What do you guys think See a coin Looks like Death see it going starting to come together Not see a coin Both Get Rid of the Dead weight No stuff is coming Out for civic Get rid of both see it both both trash Civic have some Big news coming Friday Yeah buy the rumor sell the news Right Now it’s the rumor Get Rid of Civic It looks Pretty split down the Middle Yeah Imma stick with My first Thing we’re getting Rid of mysterium and Civic So let’s Go ahead and time stamp These Guys I’ll do This Later We don’t have to do it live on the air i’m Just gonna write down a time so that i know for the portfolio To update that With Actually i’ll Just do this Now Because This is Pretty cool this Is a Crystal Crypto compare so see a coin will click on this Thing Curren It Doesn’t like me don’t want me to so we’re not even Early in my portfolio So yeah essentially What we’re gonna do today is uh Like i Said cut the Fat Right Somebody’s Somebody’s uh Somebody’s coins Just are hurt i was out and Honestly i think When we started to trading challenge i wasn’t using That White line That White line Changes Everything you? Know That White line Changes Everything The Fundamentals of CvC what Does that even Mean What is the fundamentals Mean can Someone Help me on that one There we Go all right so here we Go we’ll click This button right here see a coin or Keeping This one has Been spared for now mysterium gone Get Out of Here i Feel Like That Was from a Movie or something Get out of Here I’m not like from a movie we’re little so we got It at One and then oh? Boy That’s Pretty Bad two gold Ones Pretty Bad Let’s Check that out Maybe We Could Save Civic Maybe We Could Save City gee auntie No no that Looks Pretty Good That’s not Bad you see how flat What i like about this and you know This is what i look for first 3:43 oh My Goodness look at that wow this is about to do something Nasty Wow Wow Wow What is that 22,000 Yeah That’s Nice That’s not Bad it’s Just taking a Long time i can’t even be mad at It cuz that is gonna be some Real-deal Money Yeah That’s gonna This is this is gonna Break the books you Guys gmt is about. To break the books Look At This wow all right What we’re gonna do we’re gonna double down on this down here? This is nice That is nice What i like is we had one quick spike right Here you know even in that quick spike right and i don’t i don’t know iF we Got It before that spike Maybe We did But even in that quick spike Which Was like 35% We went right back to sleep and look at look at the rsi relative strength Index like We are literally Sleeping Right Now right and no Longer and That’s like Two or three Days This is almost a Week Like This is when you want to like dump a Second Mortgage on it Cuz like look at This Like We literally Have not Gone anywhere in almost a Week that means all of That Energy Not Just from that 30% but All of That Energy Behind It is literally Just compressing you know Inside those Little Bitty Candles So what we’re gonna do today So what we’re gonna do now is we don’t sold sia Which Was down 20% Right Say It Was down like 20% we’re selling mysterium Which Was down We Already Get Rid of mysterium yeah okay so mysterion Was Down 16 percent See it coin we’re Keeping for now Civic we’re gonna sell we’re gonna sell civic And we’re gonna Throw a difference ongoing and You’ll See Why well i think you already did see Why? We’re gonna wait it out would see a coin mainly Because it’s so cheap and We’ve already lost and It Didn’t Really Bounce Today Which tails made i did you know it’s Kind of Doing its own Little Thing So let’s Get out of That one and That Will give Us so sequins safe for Now CVC we sold for 12% loss Which is fine So all together That’s What 30% down At trade in fees so we have about point oh One five to put down Let’S Just Throw It all on God i’m gonna do this straight Tomorrow Cuz this trade Kuwait golem is Good So let’s do That So let’s buy another 0.015 Um i think i think i think Does That Work is that How you do it? Let me uh let me Just check this Out Real quick oh don’t want to do that? I Just Place another buy in okay We Still have atx Right Now and The reason We Have it is Because it’s not i Don’t think This is Just a One one and done for atx i mean This is what you wait on this is what we traded it for Only Unless You Guys want to take This but This is still a This is still strong is what i’m Saying It’s strong on A 343 it had a Little Bit of consolidation It Would Need to break This line Down here so i tell you what if he’s scared What we’ll do What we can Do is we can Put a Sil Limit cell Limit at a Twenty four Twenty four Thousand That Way we can Lock It in and still ride It up and if It Breaks Twenty four it’S gonna break That fractal right There Right Up Under It Because That’s like a Fractal right There you see that So let’s put our limit right there oh, two three See that 23,000 so when it Breaks that It Basically Falls and It Doesn’t. Have anything to catch it right Technically We Could Go right above that fibonacci Because That’s right above There but we’ll Go Just Below It Just to make sure So i think a Few People Wanted me to Do Show you guys how to do a Limit yes right But The way It works the Way to fractals Work Listen Somebody Just Said atx Is a Fast-Moving coin That’s a tight Limit that i put on it That’s right Because the Way the fractals Work oh? yeah i see What you’re Saying that Doesn’t Really Help Us We can’t really Sell on the Candles Anyway Because we don’t even use the candles Let’s Turn These Damn Candles off My own Got me looking at The Candles Anyway If we’re gonna sell we Need to sell after That Green Comes Below This blue That’s when you sale right and That’s on a 77 minute chart Right so you can’t Really Measure that By a candle Cuz we Just broke it over here too So because we broke it We Broke above the fibonacci on the 343 Right They’re Probably gonna come like right there and then come down a Little Bit Jump Down to the 77 and Sell When It gets Below It on the 77 when It gets Below That 0.002 4 And That’ll Be That’ll be a Good sell for you Then it’s gonna dip under That Red and then it’s gonna go back inside that orange and then we buy back in the orange at 1,800 and swing It back up again so there you go But What we’re Doing Today are action for Today so everyone is aware we are not selling a D-X yet We Will sell It on a 77 minute chart Let me write this down Right Twenty-four Thousands of Ptosis Good That’s Pretty Good and Then i’ll Just Draw in a little line So we Know That’s where you Know That’s the moment in time Where we made this decision Poor So there you go That’s Good That’s Good Because The line tells the Candles where to go so What’S gonna Happen is that line eventually It may Keep Going Up but eventually It’S gonna have to come down? It’s probably gonna Sit Sideways might Even Fall The Candles might Fall into the Money zone That a line could Stay Right There But That Candles could Fall into the Money zone and then We Take back off All right But This is Good This is a Good good Good Chart Abx is strong adx is Really strong Yeah If You’re Just yeah i know that i don’t Normally use the 77 but Now you know when to use the 77 you only Need to use the 77 When you want to cash Out Beyond Saying you want to maximize every Penny of profit Other Than that That 343 is good enough Right but When you want. To look inside this Thing You can Jump Down to the 77 and say okay bamm bamm bamm right i see you i see you because the fractals carry Over That’s the Secret of Harmonic Resonance Is It Doesn’t Matter if I’m Looking at I’m not gonna tell you our levels but i can look at Like four or five different levels and Understand Exactly you Know how different Things tied Together Because The Frack Doses What’s whatever i see on this level Just Expands to this level Expands to this level Expense to this Level you know and i’m looking? At The Exact same picture It Just Shows up as a different Metric That’s Why it’s a patent it Does It Because it works Here we Go um Yes i did we Bought atx like Two Weeks Ago we’ve Been getting Money Where the hell you Been Bobby we’ve Been getting Money come on come on i? Think that It ain’t That song i’ve Been getting Money we’re gonna Help You be i um so here we go Mysterium Gone Civic gone Take That Money Double down on golem g and t Like a Boss and We Will ride This one home to the bank this is this is about to do something That’s the inside of Inside of Ten Days so That’s our cash action and Then i’ll figure Out how to update our portfolio To show It on this and then i got another coin for Tomorrow i might Jump on Tomorrow Morning and Do That One Because That One is sitting Pretty Good So That’S our cash action for right Now Cool yeah You could do a 60-minute that Works Too so you’ve got the four hour and then you got the 60 minutes so essentially it’S four to one i used like a base Three system But a trading view They use a base for system so it works it’s it’s comparable you Know if you Just have the free account you can use the four hour and then i wouldn’t recommend using i Wouldn’T Recommend using The sixty but iF You Know you wanted to try to do something Similar i don’t even know how it would look on a Sixty you Know you could Try it It Just Breaks It Down a Little bit I’m not gonna guarantee it’S gonna Work because again my methods based off Harmonics and Fractals and Numerology and Methodology and Veda Cosmology and a Lot of Stuff That science don’t even like to talk about 60 has Absolutely nothing to do with my method Cool Good Well That’s it Guys That Is those are the charts for This evening right you Got you got the ax and you got that you Got the price action Congratulations Man We are We are we are set Up to be pretty Nice We’re up five percent on bitcoin Right I don’t care about the dollar But i know we’re Up five percent on bitcoin so That’s amazing Right Given Given The Two weeks of Hell we went Through to get Here we still Up 5% so congratulations Right Just Just Make sure Make sure Everybody Know You Know when you see this video and you see the boss Bossing Out on a 777 231 That’s how you chart Like a Boss oh We Have 5% That’s Pretty Amazing Right I’M Just uh Go pull up bitcoins chart Real quick here You Know one of The Things i try to do is uh Keep It Relatively Pitts Simple Make Sure People Understand What we’re doing Here you Know so even if We look at btC. To the dollar when do we start this Thing September 4th Let me pull up a different Chart One That i draw up on all Crazy-Like Polo i don’t even use they Charts Every uh I can’t believe i even got something Drawn on this chart so Again We started This Thing September 4th and How much Was bitcoin Nine four somewhere in there oh boy This is yeah this is why guys were like i can’t believe you started it on that day well That’s the day We Started Hold on we’ll Say Right about There I’ll Just Call It even 4,200 all right somewhere in that Bar And today We’re not quite up there you know In fact we’re If i Was a Bettin Man i’d Say we’ll finish somewhere down in there but i’ll Just give them the benefit of the Doubt For 196 At This Very moment So they’re down you know the dollar is Down 1.1 8% and we’re at 5% bitcoin Do You Understand how That’s better That Means They lost 1% dollar and Didn’t gain any Bitcoin we don’t care about the dollar and we Gain 5% bitcoin That’s how it Works Right That’s how you win Because Bitcoin Is in a macro Uptrend so we automatically have all Those Dollars Infused in the value of The Odds? so there you go Somebody Just Talked about Gnosis gn oh Check It Out Real quick oh? My Goodness oh My did not Just Say Double down or that Was gmt wow Wow wow wow do i have any on this Hmm well pumping a Pump and Dump live on the air you guys Hmm All right so let’s Run This one down in check this out? look At That That’s Nice Alright We Go Catch This One Everybody Get Up Get on This All you do on these pumping dumps you get on a Seven minute maybe a Three depending on how much Volumes in Here Yeah We could Go ahead You Would sell Under This fractal Right Here Right Because It might Catch Midway Up that Chart Right Here and Mark You’re Number one Do me a favor Just click that Little Red Button It Says unsubscribe appreciate it Um When My This is the Only time the cell walls and the volume is good to have Just to see like Inside this stuff? And Then also The Let’s do this i got a Good i got a Good Chart I can’t deal with These Clowns Man Like I ain’t Got nothing Better to do with my time So you Guys caught a Bonus you get a bonus hour with bk Honestly That’s Just a Good you know on a 343 It doesn’t look Bad If Anybody Remember i have one video i had a Chart That Said snoop Secret sauce but it’S a snoop Secret sauce Right Here Actually i call This One This is my rubber band Man Rbm rubber band man i Remember That – Yeah – Yeah pete coming live from the vip Yeah This is hot this is how we Need to get up out of there let’s see what the three is doing Yeah Once It Does That wow wow wow Since Doesn’t make Any sense like That’s not Human Money at This Point like Human Humans don’t behave Like That But Once That Green Breaks Inside It air it’s basically Lights Out It more or less has to check back in all the Way down So we could Go ahead and Say oh This Thing is tapping out so let’s Jump Out of Gnosis – That’s a Good Catch Good Catch, oh? Yeah But That it’s gonna it’s gonna it’s gonna oh boy Well Wait a minute i Think this is Just People Now Let’s see That’s the problem You could cash Out and i Mean the Mechanics are Broken That That Green Crossed the white technically it’s broken i think these are Just People Throwing Their Dumb Money on top of it That’s a Dark Cloud Cover Dozy I’ll tell you What you could do is put a Stop loss at 0.04 and see if you could Let It Ride Maybe yeah Yeah That’s What i would do put a Stop loss at point-O for that Way you catch most of it Cuz That’s the fractal right There you can Kind of see like how it forms Stratis How it forms that That Little Level Right There It’s actually a Fractal Inside of It That line Is a Fractal one Two three It Holds all The Way across all three of them so when it Breaks that line It’ll go down to the Next line one. Two three down there Which Just so happened to be one. Two three That Fractal Formed Right There Remember all you Need is three Surfaces To make a train One two three That’s a Fractal That’s Why my method is based off Threes and Sevens Because That’s all i look for Doesn’t Look Like it’s Given Up though She’s interesting No we said double down on gmt this is gnosis Gnosis we’re gonna sell Just to cash it out and What did we buy it is four So gmt and gno are like. Two separate coins you Guys Write gnosis is Pumpin Right Now Which is i’m deciding if We Should Sell It the minute the minute it breaks you Know three nine five we Need to be out of there right so Gnosis i’m putting a sell order in At zero Point zero three nine five Because once That Breaks The fundamentals are Broken But This Thing might Still be running so you can Just put a sell order in at Three nine five Maybe Three Seven five three eight five Depending on and What these is Just hard you know yeah Yeah Boy Hopefully You Guys aren’t the one When i say it Doubled down on g and d Yeah what if this Was like our own Pump Like How many People We Got live on the air right Now We Got Both of them on the list right we have Gnt right Here we have Gn o somewhere geno right There so we have both of them right So yeah we’re doubling down on gmT because it’s it’s it’s Sleep Right Now Right And we’re gonna sell gno at 0.03 95 and Then i’ll Get on Tomorrow Morning and do All The Numbers like reconfigure everything base where Everything Comes Out At so we sold mysterium sold Civic Throw all of That Money on Gnt on a golem and Gnosis you Put a sell order right there at point zero three nine five Right Up under That Frakkin and We Should Be Good Is anything else Happening That Was a Nice Catch That That Helped us out a Lot no Sis do you know look at That 55% That’s Nice Z cash Yeah no Z cash Was gonna Happen oh Wow So once Again Let’s Go through This from the top Gnosis This One Right Here But This one you’re going to Go tell It Now it’s Broken Sell it now Sell Gnosis Now the Thrill is gone the fun is over Don’t be the last 1.0 three nine five it’s going to be erased at the bottom yeah Selling Elseís Now one two three go Like a Dead That’s Why we i told you that Fractal What i say about that Yellow box Once that box is Broken That’s it It will get a Little Bounce Hear From some People late to the party trying to catch up Yeah This might Shock the Market so let’s look at adx Maybe We Should Lock in some of That Money too oh? yeah This is the Only time i look at a seven-minute chart yeah You could Go ahead and Sell atx This is Just That’s Just a Good Run That’s a Nice One – one One or one two three yeah Do you cash Oh Shizzle Are we Just talking about this Let me pull out my hip btC hold on cuz i got some Money on This one i Got Money on This one It’s pretty Cool though Like Making some Money live on the air That’s Pretty Cool Yeah Somebody Was telling me i would Actually Know one of the biggest miners in the country on Z cash and i Messaged Them Earlier this Week said z cash is looking Good in the charts So i know very Having a Good time tonight I’m gonna Try to get an interview with them For This Channel so if you’re listening i’D love to talk to you That’s solid Right There Yeah What’s happening right Now What day is it is a these are obviously Hedge Funds Banks a Lot of Banks One of My Guys Just uh Was Overseas and They were he came back Saying That They were talking a lot about z cash so There you go Hopefully you Got Out of Gnosis we sold That Point oh three nine five so we’re out Now for this one we don’t have It in a trade-in challenge so i’m not gonna run it down Like We Just did with Gnosis but you saw how i did that though Like even when you see something like This All you do is you Just go down to Say like a 3-minute Deal three minute candle and you Just follow It right And Once you see Two or three Candles Stop At a Certain Level Then You can Say okay well When It gets lower Than That Level Catch me out All right i don’t think it’s gonna Stop right there i think That’s Just a Temporary little deal but There you go How’s It Feel to make Money Guys we didn’t made a lot of Money Today How’s Everybody Feel and We Catch some Out too I think What’s happening Now and i’ve Been talking about This for a Very Very long While All of these altcoins are about to pump the minute bitcoin Finally Corrects for Good All of This Money has to come from somewhere and it’s not coming off the sidelines you know through Big quick Just to get on a couple off Points This Money Is gonna be pulled from somewhere And i think we’re gonna see it pulled from right There What’s Up you come in we’re Good It’s gone no okay Swing traders Not day traders Because we don’t Need to trade Every day all We Did Was accumulated a portfolio Every day But You’ll see like We After a While like we’re Good we’ll Just cut the fat Like earlier Today We Got Rid of We Got Rid of mysterium and Civic you know double down on Gollum and We Cast Out on Gnosis so right Now we do not Have Gnosis we do not have mysterium we do not have civic Still Got Gollum and We Still Got atx And i Said we’re not gonna sell atx yet Because i wrote that note on the thing? Until The Seven minute Chart Until The three Crosses That One Thing There Goes Over here opi sold Now Here’s Where you start Playing With it cuz Now this isn’t like a Over sale like look at all That Money Right There Like if We Would have Been in on this Thing When that Thing Touched like? Down There Like That’s Cheaper Than Where It started you Know That’s like free Money essentially cuz it has to come back Up so It’S interesting People Just be Panicking Like That Doesn’t even make Any sense for it to go like Lowered and What It was before the pump started Right People What’s People Says Panic But That’s how you know it’s people Doing it it’s probably like some Seventeen Year old Kid in like New Zealand i don’t know what the hell he doing ah I used to be one of Those Kids i tell you Guys I lost 10 bitcoin on one chasing one bubble One Time? I’m gonna do a video about it yeah I lost 10 bitcoin in about 10 minutes chasing a Bubble Like This Buying Up Here oh? That Was Bad Yeah I’m gonna do the video Tomorrow i’m gonna do is Just gonna Recap all of Today Because today Was like a Monsoon So yeah this is the adx no, But Tomorrow’s video i’m gonna do one in the morning i Just Basically Recaps all of This We are not selling yet We Will sell on a 77 minute chart When the Green The Seven Let’S Just Say When not Seven Brakes 24k Satoshi so there you go so look on the seventy Center And Once That Green Line Breaks There Then We Sell you can See the candle Probably Would Have Kicked This out Already Be close to Kicking us out yeah it would have Kicked us out already but What could Happen is the candle? Could Fall All The Way down there but as long as That Green Doesn’t cuz the Green accounts for all of That data behind it so there you go Chasing The bubble Like a Baws he had Given away ten bitcoin like a like a Chump But Like That’s Why That’s Why i always tell you Guys i’m i didn’t gave a lot of Money away i don’t lost a lot of Money so now i know how to make it back plus some oh? Anna and i got and i got a look at This Z cash cuz i got some home yeah yes i do Hmmm It’s not Bad Looking at It right Now it’s not Bad Cool But That’s how you do it That’s how it is today Was an Awesome Session a Lot of People Pay a Lot of Money to learn What you guys Just Learned in the course of you know 90 Minutes Hope You enjoyed it Make sure You comment This video for The question of The day We’re gonna sell one more coin Tomorrow What point Should It Be like i said we’re cutting the fat We Got to be Lean especially When bitcoins start Going down i don’t want To be too wide i want to be narrow i want To be focused i want to be on the point right so we’re cutting we’re cutting the fat Down a Little bit more That Way we Just focus on me money if It ain’t Making Money Come back When it’s ready? So That’s the question that a Day We Got a couple products dream team is the biggest one Go to boss of bitcoin comm click on a dream team and $25 dis Wool is a Very Very Good list we’re Actually This Week we’re gonna be buying a Few of the coins on this list so A couple Guys i saw in the chat Was asking about one in particular i need them We Need to Just Go ahead and Put some more Money in i got some other Stuff I’m waiting on but let me Just put Some more Money in buy up these dreamteam Tokens before y’All take them off um So your dream team is the biggest Thing for Situations Like This When when bitcoin the Money you can see the Money Is starting to change Over i think it’s starting to go back to where it was back in April/may Right Knossos Was on top right Leo Wasn’t even Around The Theory Am had a Nice Run during That time see a coin had a Nice Run So all This Money Is doing is going back to where it came from We Already Set Up Emc – That’s gonna Be a I think That’s Already Up that Was one of the big ones during That time so this go back look at the charts Between March And May and Whatever those top coins are Those Will Be The top points again Over the Next two weeks more Than Likely That Being Said i gotta go my girl already came in here wrote me a letter probably to Say Bk Get off that Damn computer So i gotta go It’s that time of The day Signing off the Boats your boy became no matter where you stay Brazil Bait califonia a Good Night Good Morning and Good day Thank you for Joining Us It’s Been a Roller Coaster we made a Lot of Money Though we made a Lot of Money This is why you’ve never invest in bitcoin trading Profit from It like a Boss Till We Meet Again Stay Cryptic Y’all please

    How To Get Into Investment Banking If You Have a 3.0 GPA
    Articles, Blog

    How To Get Into Investment Banking If You Have a 3.0 GPA

    August 31, 2019


    bjbj Today, I’m going to be telling you about
    how you can break into investment banking if you have a 3.0 GPA, you graduated from
    an unknown school and you only recently learned English. Now, as you can imagine, coming from
    this background, you’re really going to need some kind of ace up your sleeve, to have a
    chance at breaking in. Whether you’re doing it through cold calling or through setting
    up informational interviews or through other means. What I’m going to do to illustrate
    exactly how to do this and to get in if you’re coming from this type of background, is to
    go through two case studies from readers and customers who networked their way into investment
    banking and got in coming from backgrounds like this where they were really at a huge
    disadvantage compared to everyone else. For the first case study, I’m going to be telling
    you about a reader who had immigrated to the US about four years ago. Now, at this time,
    he was coming from a part in the world where English language instruction is not common.
    He only had a very basic knowledge of English when he first came over. Certainly not anywhere
    close to the level he needed to actually work full time in finance or in investment banking.
    In addition to that handicap, he also went to an unknown state school, because, again,
    he had limited financial resources. Especially when he first moved to the US, and so he really
    couldn’t afford to go to an elite private school, an Ivy League school or anything like
    that. On top of all that, he also had basically no finance experience when he was starting
    out. He had a few jobs on campus, working at the library, the athletics department,
    other local places like that, but nothing substantial. I’m not even talking about not
    having investment banking internships. I mean absolutely no real work experience outside
    of on-campus type jobs. In his initial networking strategy to find internships, he tried a couple
    of different things, but found that most of what he was doing was just not working that
    well. The first problem was that his positioning was not great. He was coming from a unique
    background that not many other people shared. And in addition to this, although he didn’t
    have any formal work experience to speak of, he had been participating in a program that
    was put on by a bulge bracket investment bank, one of those financial training workshop-type
    programs. He thought that since it didn’t last very long, since it wasn’t real work
    experience, he didn’t really see the point of highlighting this. The other thing that
    didn’t work too well is when he started applying, he focused mostly on applying online, going
    through bank’s websites, going through career websites, and for good reason. Because at
    his school, basically no banks recruited there so he felt that going online was really the
    only option he had. Finally, after not having too much success applying online, he decided
    to start mass cold emailing local boutiques in his area, and you can probably already
    guess that using all these strategies did not lead to much success for him. Because
    when you don’t highlight the key points about your background, even if you have to stretch
    and spin them, and when you apply to people through an impersonal medium like websites
    or email, it’s very difficult to properly convey your stories, especially if you’re
    coming from a unique background like this. What did work and what eventually ended up
    working for him, is when he changed his strategy as follows. First off, he used proper positioning.
    I went through his resume and helped him highlight what was most relevant. Even though the bulge
    bracket training workshop that he had been to, even though that was really more like
    a class than a real internship, with his background, he really need to highlight that and put it
    at the top of his resume, make is seem like the most important, most prominent work experience
    there. It is stretching the truth, but he had to do it in this case, because it was
    the most impressive thing he had. Second, in the beginning, he focused too much on applying
    online and going through websites, cold emailing people, but he got much better results once
    he actually started cold calling places, as opposed to just sending out emails. Especially
    for someone like him with his kind of background, cold calling is just going to have much better
    results. Because if you can get across to someone that you’re coming from a nontraditional
    background and you’ve overcome so much to get to where you are, they’re going to be
    much more sympathetic to you. Third, one question that came up when he was going around networking,
    even though there were not many alumni from his school in finance, there were still at
    least a few. One issue that came up was how direct should he be when contacting them?
    Should he try to develop relationships with them and try to ask about how they got into
    the industry or should he just ask about opportunities? Now, at the time, it was about March or April
    when he was still looking for internships, so basically well after formal recruiting
    season had ended. In this situation, it paid to be a lot more direct with the alumni. In
    a lot of cases, without even saying too much, just indicating that he was looking for an
    internship, a lot of them who were impressed by his story, just casually made offers to
    him and said, “Hey, you know, if you want to work here at some point, if you’re interested
    at some point in the future, just give me a holler. Contact me and we can work something
    out.” Once he changed this strategy and started using these tactics instead, he saw a lot
    more success. OK, so here you see the email, and you see here in the middle, he kind of
    starts at a story. He says, “Truth be told, in the beginning of February, I went to a
    two-week depression. I thought my dream job was out of reach because I’m not a [inaudible
    00:04:48] target, irrelevant experience, don’t have a strong background in finance evaluations,”
    and his resume was crap, in his own words. He goes through this and talks about how he
    got bad grades as well, then he skips to the conclusion here. He talks about how he has
    a very well-paid part-time internship that provides relevant experience, a summer offer
    at a small tech boutique. Essentially, he had gotten two internship offers out of his
    networking efforts here. Which is definitely unusual, but can be done, especially when
    you’re dealing with smaller firms as he chose to focus on here. Then he goes through some
    of the other points here on the networking tools and understanding the technical side
    of banking. Up here at the top you see he got an email from an alum from his school,
    one of the few who is actually in finance. And he talks about how he used the templates
    and tips for cold emails, cold phone calls and then follow-up conversations that were
    part of the Networking Ninja Toolkit, and he says how the alum liked his style, “Good
    luck and stay in touch.” You see right here, even by using something as simple as just
    a few of the templates in the Networking Ninja Toolkit, he managed to get this guy to give
    him basically a soft offer to come back and intern with him for awhile. Now, to move to
    the second case study here. Now, this one is also from a reader from a severely disadvantaged
    background. First off, as with our first case study, he was also going to a non-target state
    school. Basically, no banks recruited there. He really didn’t have a wide alumni network
    to tap into. Second, his GPA was also low. Now, it’s not quite the C- level that I had
    here. He had around a 3.0 GPA. Not terrible, but usually for investment banking for finance,
    you need at least a 3.5 GPA to get serious consideration for most places, so he was at
    a disadvantage already. To make things even worse, he had already graduated. He was already
    out of school. He had been out of school for a few months and he had started looking for
    jobs about a month or so after he had graduated. But he really missed the boat because it’s
    much easier to get jobs and internships when you’re still in school. Now, his initial strategy
    networking was the following. He sort of had a wide list of all these different places
    he wanted to work at. He wasn’t really filtering the list at all, so he had boutiques, bulge
    brackets, middle market firms, and he was basically just reaching out to everyone, applying
    to all sorts of different positions and sort of just spreading his net really wide, and
    trying to just get whatever he could. Second, as with the first case study here, he was
    also focused on applying online. He went through a lot of career websites, going through individual
    bank’s websites, and then also as part of his applying online strategy, he was using
    Doostang. Now, I get a lot of questions about this one, which is why I’m bringing it up
    here. I personally have not used this service too much before, but he did use the service
    a lot. He actually applied to around 150 firms through Doostang, and got essentially zero
    results from all that. He applied to over 100 firms, to dozens of different places online,
    and basically got no results. Mostly because these types of services, Doostang in particular,
    works well if you go to an Ivy League school, you have great grades and you’re coming from
    a traditional background. If you’re very passionate about the industry but you’re not coming from
    that type of background, you have a lower GPA, you’re coming from a school that most
    people haven’t heard of, then you’re not going to get good results by going through traditional
    channels like this. Instead, what he changed his strategy to do was the following. First,
    instead of focusing on all sorts of different firms, he decided to filter his list more
    and focus strictly on regional boutiques. So local, small firms in his area that really
    need help. Second, instead of applying online, he decided to start cold calling and rather
    than just targeting anyone he could, rather than just targeting HR, he decided to go straight
    for the managing directors instead. I get a lot of questions on who you should contact
    when you start cold calling. In his case, he found that going straight for the MDs was
    the ideal strategy. And what he found is that he got around a 50% hit rate with them, so
    about 50% would kind of try to offload him to HR and then about 50% would actually take
    the time to talk to him, hear his story and then at least consider him, get his resume
    and then potentially call him back for an interview. Finally, so this is sort of a tongue-in-cheek
    comment, but he was using a lot of the calling scripts and templates from the Networking
    Ninja Toolkit. Obviously, I’m not being completely serious here, the smiley face. But the reason
    I’m bringing this up is because with networking efforts, a lot of times you get tempted to
    reinvent the wheel, to come up with your own approach, do everything totally differently
    from everyone else. But actually if you have a template or calling script or certain phrases
    that work well, and have already worked well for others who have gotten internship offers
    and full-time offers by using these exact templates, then why mess with what works?
    If they’ve worked for other people, then you should probably just go with what works. Now,
    I’m going to an email he sent me that kind of describes this whole process so you can
    see firsthand from him, his own comments, and how he went from nowhere directly after
    graduation to ultimately getting internships and then getting a full-time offer. OK. So
    here we see the second email I was referring to, and I have once again deleted his information
    to protect his privacy here. We see a bit of background information at the top. “I have
    purchased both the Modeling Course, Breaking into Wall Street and the Interview Guide.
    It has been the sole reason why I’ve gotten two summer internship offers from boutique,
    middle market investment banks.” Then you see here, sort of about his disadvantage background.
    So non-target university, 3.0 GPA. Then you see right here, so he started recruiting about
    two-and-a-half months before he sent me this email, and he talks about his experience about
    Doostang right here. He submitted over 150 applications and did not get good feedback
    from employers and then he realized as I’ve pointed out before that really, coming from
    this type of background, the only way to get in is to ninja your way in, as he did. He
    decided to focus on boutique and middle market banks in his region, compiled a list of banks
    using the templates in the Networking Ninja Toolkit and then he got a lot of good feedback
    from most of the people. Here, he mentions what I brought up before, how MDs are much
    harder to reach. But when he does get in touch with them, 50% of them actually took the time
    to speak with him. Then you see here he got offers for two summer internships, one was
    unpaid but one was paid and he had two backup plans as a result of this. Now, obviously,
    I was really happy for him when I saw this email, to see that he had gotten great results,
    but I want to ask his permission before I could actually show this to you. So I wrote
    to him the other day and here’s what he said. He received a full-time offer about three
    weeks ago and now he is officially an analyst. Within a matter of months here, he went from
    going to a non-target school, having a low GPA and having already graduated to getting
    multiple internships and then getting a full-time offer, and he’s currently now working as a
    full-time investment banking analyst. Hopefully, now you have an even better understanding
    of how to network, how to get into investment banking even if you’re coming from a background
    where you have a low GPA, you go to an unknown school and you’ve already graduated. If you
    follow all the strategies here, what these two readers actually did, then you’ll also
    be able to start winning interviews and landing offers. [Content_Types].xml _rels/.rels theme/theme/themeManager.xml
    sQ}# theme/theme/theme1.xml w toc’v )I`n 3Vq%’#q :TZaG L+M2 eO* $*c? Qg20pp }DU4 hsF+ ,)”K
    K4’+ vt]K [email protected]%w S; Z |s*Y 0X4D) ?*|f -45x /Y|t theme/theme/_rels/themeManager.xml.rels
    6?$Q K(M&$R(.1 [Content_Types].xmlPK _rels/.relsPK theme/theme/themeManager.xmlPK theme/theme/theme1.xmlPK
    theme/theme/_rels/themeManager.xml.relsPKmelissa mcniel Normal.dotm Marketing Results Microsoft Office Word Title
    Microsoft Word 97-2003 Document MSWordDoc Word.Document.8

    Top 5 Stock Trading Books You Must Read
    Articles, Blog

    Top 5 Stock Trading Books You Must Read

    August 22, 2019


    – To be successful in trading, you need to absorb as much
    information as you can and take advantage of
    every educational resource. I think books are a great way to hone your skills and improve, and in today’s video,
    we’re gonna talk about my top five favorite
    trading-related books. (upbeat rock music) Hey, everyone, lead
    trainer with StocksToTrade, Tim Bohen, here. Gonna talk to you about my top
    five favorite trading books. I think books are a great way to really build your skills, grow over time, take advantage
    of that dead time, you know. Everybody has time where they’re waiting at the doctor’s office. They’re waiting for the Uber. They’re waiting for an airplane. They’re sitting on an airplane. Maybe waiting for that next class or commuting, whatever. Take advantage of that dead time. To really get better, you’re gonna have to maximize your time, and books are a great way to do that. My first favorite trading book, and it is my all-time favorite, is The Daily Trading Coach
    by Brett Steenbarger. One of the reasons I love it so much is number one, the content is great. Brett Steenbarger is a
    trading psychologist, really sharp guy, and the book is very well-written, but the best part is especially if you’re not
    necessarily an avid reader, what’s great about The
    Daily Trading Coach is it’s 101 chapters. All of them are probably
    five-minute reads, some less, maybe some a few minutes more. Even if you’re not a person that likes to read for hours a day, you can grab that book, again, while you’re sitting
    there waiting for a ride, waiting for the next appointment, and you can read one of these lessons. I think it’s probably the
    best trading book out there. Oddly enough, I had it on my Kindle, and Amazon would not let me
    highlight any more passages as I read that book. It maxed me out with
    the number of passages. So, definitely check it out. It’s one of the great ones, and read a lesson each day, and just keep repeating. My second favorite
    trading-related book is a, it’s a great book because it’s historic. The ending is a little sad, but it’s pretty wild to read and realize that something 80, maybe even 90 or 100 years ago still works today in 2018, and that is trading
    these fast-moving stocks. So, Reminiscences of a Stock Operator is a story of Jesse Livermore. He was a, probably the most
    successful momentum trader ever. I think again, it was in
    the early 20th century. He made millions, lost millions, ultimately ended up committing suicide. That’s the sad part of the story, but the great part about it is he tells his journey
    through the bucket shops and really details what we do today. He would locate hot trends, you know, whether that be in cotton or grains, I mean some of these commodities that we necessarily don’t trade, well, they are still traded today, but in momentum lane, we don’t trade them, but the charts are there. The patterns are there. He would recognize hot sectors. I certainly believe if Jesse
    Livermore was around today, he’d be trading cannabis stocks. He’d be trading cryptocurrencies because he had his ear to the ground and knew what was hot, and it’s just really neat to see from a historical standpoint. Great book. You might not learn trading techniques, but it gives you great in-depth into the mind of a momentum stock trader. The third favorite book of
    mine is by Michael Covel. He’s a friend of mine. It’s Trend Following. This is a book that
    really helps and shapes a lot of my swing trading-type style. When I talk about swing trading, it’s more trading over multiple days and multiple weeks. Be sure to check out our other videos. We kind of talk about the difference between day trading and
    swing trading a lot, but it’s really that different mindset of instead of trying to be
    in and out the same day, you’re holding stocks
    multiple days, weeks, maybe months, or even years, and what Michael Covel
    talks about in this book is isolating those charts. It’s a great charting book, you know, if you’re looking, you know, if people talk about looking at charts, and you’re like, “Well,
    how do I read a chart?” It’s a great way to get started there and learn that knowledge. You know, the common mistake
    a lot of new traders make is they’re out too early. They take profits too early. You know, the old adage is, you know, the biggest mistake a lot
    of new traders make is they let their losses run, and they cut their profits early. Sounds funny, you know, you might think, “Who
    would let their losses run “and take profits too quickly?” I see it every day in day trading land and swing trading land. People let their losses grow, grow, grow, and the instant they see
    green, they take profits, and Trend Following is a great book to get you in that mindset of as long as you’re green on a trade, let it work. If you’re red on a trade, cut that loss quickly,
    and you’ll be, you know, that’s the way to be
    maximize your success. Small losses, big wins. Trend Following’s one of my favorites. Also, check out TurtleTraders
    by Michael Covel as a bonus. My fourth favorite trading-related book is The Psychology of Trading
    by Brett Steenbarger again. For sure, check out Brett, Google him He’s got a great blog. All of his books are great. The Trading Psychology, as
    well as Trading Psychology 2.0, where he did an updated version, it’s another one of those books where especially if you’ve got
    a little bit of experience. I recommend these books if
    you’ve been trading a while. I’m sure you could read
    them if you’re totally new, but when you’re really new, you’ve kind of gotta make the mistakes. It’s kind of like a baby learning to walk, and you realize when you run into things, you make these mistakes, and then you see that baby kind of learn from those mistakes, Trading Psychology reminds me of that, where as I was reading it, I’m like, “Oh, I’ve done that.” “Oh, I’ve done that.” And then he talks about
    solutions to those problems, so again, I say buy it
    today, both of them. They’re both great. Trading Psychology 2.0
    was the updated version, but for sure, if you’re a couple months or a couple years into this journey, and you’ve never read it, check it out, and you’ll be amazed at how it’s almost like as I read it, I’m like, “He wrote this book for me.” And I have a feeling a lot of traders ’cause again, trading is
    a business of mistakes. It’s a lot like baseball. You strike out a lot in trading, and there’s so many lessons in this book that can potentially be a-ha-type moments. The fifth book I think
    every day trader should have and swing trader, for that fact, is Japanese Candlestick
    Charting Techniques by Steve Nison. It is a, I would call it a little more of a textbook-y type book. Daily Trading Coach, very
    easy, very quick read, bite-size chapters. Japanese Candlestick Charting
    Techniques is a little dense. I consider it more of
    like a reference material, but I really think you should have it to recognize these chart patterns, to understand candlesticks. If you’re new to trading, you might be like, “Candlesticks. “What’s he talking about?” Those are the charts, the types of charts we look
    at as short-term traders. We don’t look at the
    traditional line chart you might see in the
    newspaper or something because we’re trading volatility. Candlesticks charts show
    you the high of the day, the low of the day,
    how far the stock went, where it opened, where it closed. It’s amazing the amount of information you can garner from a candlestick chart. Seasoned veterans like
    me and other day traders can look at a candlestick chart and instantly recognize
    that’s a bullish pattern. That’s a bearish pattern. That stock’s breaking out. That stock’s breaking down. It’s consolidating. So, it is a dense read. It is kind of expensive. Last I checked, it might
    be $70, $80 on Amazon, but I think it’s a reference material that needs to be on your shelf, accessible to pull out
    when you need a reference. And then as a bonus, I know it’s the top five favorite books, but the sixth favorite, as a bonus, is American Hedge Fund by Timothy Sykes. You know, I look back at my history, if you’ve read some of where my journey in trading, I was always interested in finance, literally since elementary school. Never made any money until I found Tim Sykes’ American Hedge Fund on Amazon roughly right when it
    came out about 2007, 2008. That’s when I discovered day trading these low-price stocks. That’s when I discovered short selling. I didn’t think you could even
    short sell low-price stocks until I read Tim’s book, and it’s an amazing journey. Tim’s got a pretty crazy story. This book details his starting out with $12,000 in high school, turning that into $1.65 million, trading on a boat back in the early 2000s when the internet access was
    nothing like it is today. He was traveling the world. He was still successful, and primarily shorting
    these low-price stocks. So, definitely check it out. It’s a great read. It’s a fun read, and it’s a great deal. The American Hedge Fund by Timothy Sykes. Thanks for watching our video. Be sure to comment below with any trading-related question. We love answering your questions. Also, like and share with your friends, and be sure to subscribe to be notified as soon
    as our next video hits, and if you’re looking to
    expand your trading knowledge, don’t forget to check out
    all of our other videos, and be sure to click the trial below. Check out StocksToTrade. I think it is one of the best, most rapidly advancing
    softwares out there. Be sure to check out our trial. (upbeat music)

    FREESTYLE on a FIBONACCI ?? Cryptocurrency News ledger wallet bitstamp cryptonation digibyte DGB
    Articles, Blog

    FREESTYLE on a FIBONACCI ?? Cryptocurrency News ledger wallet bitstamp cryptonation digibyte DGB

    August 21, 2019


    THE BOSS OF BITCOIN! This is the boat and I got the number one website for you to cash in and cash out in cash money for Bitcoin It’s called bit quick dot Co There’s a link in the description and it’s in the number one comment on this video you go to their website You’re gonna see this right here You click on buy And you tell them how much money you want to spend and it will automatically convert that amount in a Bitcoin Once you have that amount ready you let them know how you want to pay for it You can either do a cash deposit or money transfer through a major bank right here in the USA You pick what bank you want? And it’s quite convenient to my house a big thing to note here is you only have three hours to get that cash money into The bank account that they send you once you deposit the money into their account they send you the Bitcoin Notice that. There is a two percent fee this morning when I send $500. They charged me ten Dollars to send it, but that’s not bad at all in crypto land so you click on next right there after it’s confirmed And they’ll send you an email And notice this is cash only you guys don’t go online and try to transfer it into a person’s account because it won’t work you Need to go into a bank with cash money in the email that they send you they’ll put their name They’ll put a 12 digit account number. They’ll put that holder state That’s all you need and they will also confirm your Bitcoin address where the money will be sent Biggest thing to note here is that you will need to receive the upload link And send them the receipt of the transfer This is what that looks like all you do is you take a picture of? The deposit receipt after you send it you type in that little no refunds or a big quick on Bitcoin boom upload it into that email right there using that link and Congratulations, baby. You are now a part of the money team. This is the boat with another breakthrough website for you guys I hope it helps, and I hope you will be profitable and prosperous in the market. Let’s go like a boss Live from the USA helping you get paid every day This is the boasts of Bitcoin the Cristo of crypto is your boy BK And if y’all like me you must not like money Today is October 1st Happy October. Everybody. Happy Sunday. Hopefully you got a couple of trades. We did last week. If so you should be profitable As a result if this is your first time tuning in congratulations, baby. You are now rocking with the best My name is B keg my friends know me as a crypto traitor And I am the boss of these charts as you will soon find out every day I’m able to grace this microphone with my voices another day somebody can profit as a result and today is no exception So with that being said guys every video, I give out a question of the day to which You know I open it up to the community and say hey guys You know we doing this hundred day challenge. I buy you know 0.01 Bitcoin, I’ll put it on the market either buy or sell for a hundred days and What coin should we pick you know what’s looking good? What do you think? What do you think I say if I pick you and this is open today? This is the question of the day? What coin should we buy or sell for our portfolio? You can actually track us live with the link in the description and in the number one comment on this video So as this after every video if I pick your coin, then you win You know some cash money from me as a token of my appreciation on behalf of our community We make money we trade Bitcoin back and forth with all the different cults and we profit We are up right now on our portfolio. We have already beat the market inside of I think eighteen or twenty days twenty trades So the coin that was selected that I’ll actually be showing you the Fibonacci process with is Well actually let’s go To the source This is our group the number one Bitcoin group in the world remember I tell you guys the doors are always open come on in if you haven’t joined yet It is no joke the number one Bitcoin group in the world And the post that I am referencing is this one right here This is a girl that’s been in our group for a while Diana Rodriguez She says my post today is to thank Brendan Kelly the boasts of the charts Who thanks to him? I’ve learned how to search the Fibonacci By when the green is above the orange not by when it’s over pumped and gone up 40% remember I say that don’t buy to green don’t sell the red and basically not to take every trading alert as Someone that knows everything without first looking at the boss method. That’s a BK chart. That’s pretty cool Just to give you a little example this morning I received an alert that digi bite was a good buy had been watching it since the 21st But hadn’t bought it then this morning. I thought this is it less than 24 hours I made 20 percent profit BAM, and I’m still learning I haven’t invest a lot i’ve only invested 0.015 Bitcoin But I didn’t think I would be so successful in just a short period of time I’m so happy Sorry for the long post wanted to share my experience This is image to me surf from the Fibonacci and digi bite, right Thank you for being an awesome teacher, so you know Here it is. You know live and direct like this was just posted today And I saw it and I was like wow that’s pretty amazing Thank you for sharing that to Diana. It’s really inspirational. It actually shows. You know how? The Fibonacci can be used to correlate all of this information and let you know When lightning is getting ready to strike right remember? I tell you that the biggest thing you have to wait for is that? Dovetail on the 231 that line has to go flat the Green has to come Above the orange and once that orange cracks through that 231 we are making some real deal money She was a little she jumped the gun you know, but she didn’t jump it before you know the seven crosses 77 So that’s rule number one green above orange by and now, I guarantee you. She’s in a better position You know that most of the market will be with regards to this trade So I say all that to say this remember guys It doesn’t matter if you start with a hundred dollars Or if you start with a hundred thousand dollars all that matters is every penny of profit You’re able to get as a result and I guarantee diana with those twenty percent gains You know trade the trade like that you will be well above Where you’re at right now in the near future, so thank you for the pick today after I checked the chart I was like she’s right this thing is ready to make some real deal money so without further ado Diana You are our winner of the day message me on Facebook which a Bitcoin wallet I’m gonna send you a couple bucks BTC as a token of my appreciation Thank you for your contribution to the community, and thank you for helping the rest of us to make money as well So here we go guys. This is digi byte, and we’re looking on a three hundred and forty three minute chart and So now what we see is Diana was right this thing has come together Quite nicely and first of all first thing we look for is is the green? Above the orange I can cut this red off You know just to clear things up a little bit, and we see that yes Yes, yes, it’s well above the horns If you would have bought you know when that green went above the orange You’d be up about eight percent right now I think Diana said she bought right here somewhere um and timed it up almost perfectly to be up twenty percent so that’s pretty cool So what does that mean for the rest of us? That means first of all we’re gonna buy this coin today, so our strike price is four hundred and twelve so toasties That’s what I’m gonna put in our portfolio d g/b at four one two set and we’re gonna buy 0.01 Bitcoin of Digi Bible right now before we get into you know that actual trade I wanted to show you guys how to freestyle on a Fibonacci write first of all if you don’t know what a Fibonacci is it’s more or less a mathematical relationship to describe The correlation of Nature right As humans that breathe oxygen and carbon you know made with carbon. We are from the earth, right We absorb energy from the Sun just like plants Do you know if you go too long without eating any plants more than likely it won’t be on this earth much longer So we’re plant-based entities that absorb energy from the Sun and as a result the Fibonacci describes a mathematical sequence of Our alignment right not only with each other, but also with different events so you know, that’s the simple version of it But it carries out through everything that happens naturally on this earth Some of you guys may have seen a picture of like a girl dipping her hair down in The water and spiking it back in the the spiral that the water goes in is actually the fibonacci spiral Um another thing is if you look on the underside of an acorn right that little spiral that The individual pieces of that acorn go around is the Fibonacci curve Curved spirals same thing its semantics. Don’t worry about it and also The sunflower seat if you look at does Google sunflower Flower just sunflower picture right and if you look at the arrangement of the seeds, it’s kind of like that endless spiral out flower of life you know same spiral That’s the fibonacci one plus two equals three plus five equals eight You know a natural sequence of numbers to describe the most likely number to happen based on this inherent set of rules We can use this Correlation to Understand the chart as well and in order to do that since we’re inside of like a month here I’m gonna turn back on our 21 And we’re gonna start the freestyle on this Fibonacci to show you guys exactly. How it works out So let’s zoom in a little bit And I highlighted these two areas ahead of time because there are two very very prominent areas on this chart Right when we saw Laura’s chart Diana I think Diana start it was all the way, I want messy memo, I’m sorry Diana when we saw Diana’s chart it was drawn all the way out you know a few months back Before did you buy it broke down, but now that we’re down pretty close You know we can zoom in to this intersection in this intersection and use those two points as our fibonacci Right so we go from right down to breakout Right and what do we want to do? Since this is like the natural extension this orange line that you see down down there. That’s moving is the natural extension of that Relationship so if this point was one two, then that orange line would be three, right It’s just the next natural logical path or the relationship between these two points right now one thing you should note is if when we double click that Fibonacci and Also, it opens up this little toolbar, but before we even do that Let’s just go to a long way of getting to it I think it’s in this side panel over here, maybe no, it’s not Probably in this one up here the second second box down second little icon click on that click on big Retracement and then click that little star right what that’ll do is that’ll throw it up top So you always have it and after you get like a bunch of these things like side-by-side like this you can order I’m going to put them in or whatever You know it works best for you, so I have like 12 up there that I’ll just use a lot so here We go back to the field so we can see that this thing is saying 1 2 & 3 is gonna be down but we don’t want that we’re saying that we think biggie bike is gonna break out so we double-click it and We click on reverse That’s all you need to do right. Also if you notice my settings are a little bit different, I think one of the default you know Fibonacci’s has 0.5 as you know a Level you don’t need that The only ones you need are two zero two three six three eight two six one eight right the ones I have highlighted are really the only ones you need And as you can see I have the one grayed out because that’s like a hundred percent It doesn’t really help us, and it does also is not a key Fibonacci level Tantas leave that up one six one eight three two seven two Are really the most two that you’ll use more often than not in a four point six one eight is really the highest Level that you’ll be able to extend to on one sequence and as we can see If we do that now our orange line goes above right? So what this says is if this is one? This is two That becomes three Right it’s the next logical step and so the way I use the Fibonacci is it doesn’t matter if we go forward or backwards the? Relationship still stays the same the correlation. That’s my understanding of it, and it works out pretty well right so Just the simple fact that we’re going down right one two We can still get up to three once we break out in fact. That’s the natural Ascension of us you know given this relationship already, so what does that mean? What does that mean for? Where we’re at right now It means that we are well on track to make some money once we get Inside this money zone right and you can see that’s actually where we broke down in the past before right there in the money zone So once we’re able to break through the top of this money zone then We’re more likely to Go up here, then. We are to go back down there. That’s how Fibonacci means It’s really just what is natural inside the chart And what is the most likely thing to happen you should also note that when you do have this nice step pattern Establish that the fibonacci more or less infers where the chart will step down at and Where it will step up at to the different levels right so if you notice This thing Has been living down That first channel for quite some time but as It goes up It will step up in these channels just Like it stepped down in those channels once it gets above that blue line chances are that’s gonna be a nice little run for us and We’ll do something you know That looks like that and pops us up to that orange Before we decided to go down Or go up You also notice that when we do make it up to this orange line Just like we did back there It’s not for very long, but we do get there given the situation in the scenario And this is the only time I look at the candles is that when I want to fine-tune this Fibonacci really understand What’s going on inside of it right otherwise? I don’t need two candles whatsoever But you can see like right here went to the top of that money zone came right back down, right? Here went to the top of that money zone came right back down right right here It was sitting sideways In-between it trying to decide do you want to break out or do you want to break down decided to break down? Tested bounced off that money’s on right there continue to go down Consolidated right over the top of that two three six went down You know bounced off the orange line broke up to the top of the money zone went back down You know I’m saying so it’s literally like the top of the bar and the bottom of the bar that more or less Confirmed this thing the entire time now with us buying a digi bite right there inside that money zone That’s what I tell you guys if we’re gonna buy we want to buy inside that money zone because that is The most likely chance that we have to go back up to the top of that orange line and a beautiful thing about This relationship, this is a strong strong chart is you can see that that orange line? confirms You know the top of our candle On two different notes right there And that’s why I picked this chart because it’s like it’s so clearly defined you cannot make that up. That is not an Accident right so now. What do we do with this information? We’re gonna buy digi bite, and this is what we expect to have happen I Don’t like limiters. I don’t recommend. You know stop losses I just want to do this to give you guys an idea of what kind of profit to expect I’m not saying put a stop loss down here. Don’t you ever do that because there are BOTS and whales that? Intentionally will suppress a market to knock out your stop-loss before they allow the natural market to take it back up to where its chart said it was gonna go so do not waste your Time put me in stop losses Right that’s just my two supposes, but here we go With this guy we’re gonna buy it Right there and Now what is natural to the chart right? What is natural to the chart? We’re buying it Where for one for right around there Sell it up there and What’s natural to the chart is a drop of no more than that? right so that gives us a Risk/reward ratio 3.16 target profit of 38 percent And If it gets down there. It’s broken technically We could take this up to that fifth level, but again that will be on one candle sell them I said do not sell the candles but if a Candle gets down there that more than likely are 7 day moving average has broken that blue line And that’s when technically we would get out, right So we gotta risk the reward of about 3.0 So it’s a solid solid solid pickup, and that’s what I wanted to do it for today’s chart because it’s really really good Right real quick we can go through one more So essentially this is what we look at right here I like to leave these things just as reminders the top of that candle is our sell zone Which is very natural already two one six one eight extension of the Fibonacci and again when that green crosses that orange and that? Orange starts to go up you got you a solid reversal and so shout out again to Diana for finding it for us It really helped everybody to make some money This is a good chart you guys and another reason why it’s so good is even if you look at the inner day What it just got done doing it went all the way up to that top of that money line We’re buying it in the middle After a bounce-back so this thing already has momentum to the upside given the recent pullback and it’s about What is it right now? 8% discount So that’s solid. That’s out so this is a strong pickup for the situation I’m not saying did you buy it as a top twenty point? I’m not saying we’re gonna have it more than a few weeks, but we are gonna have it with the expectation of making 38% on a 3.0 risk/reward ratio, that’s how we do it, right Let’s check one more out. Just just to show you the difference in possibilities this one is going to be Nexus and e.x us to the Bitcoin And I believe somebody Recommended this one in one of our comments the other day So I’m gonna go back to the whoever you are in and throw you a couple bucks as well in Bitcoin so when we look at Nexus we can see let me take that off and We zoom out so now. I’m gonna cut this red off because we’re looking out like more than six weeks So we really don’t need red right now. I can get enough information between a green white and orange and So what’s really intriguing about this chart. I saw is that when you connect? First of all let me show you how this works right here because these are two very very very Important moments in time that I captured right first of all That moment in time When we look at it, let’s do this That’s not that that moment in time right there is very very very critical to the future of Nexus What do we have we have the green is? essentially in quicksand you guys It’s under the orange under the white and then the white started coming down You see that the white came down and so now it’s like the roof was closing in on Nexus It was literally like running out of air underwater But what happened fight or flight and this thing took off? You know like a horse off the tracks So it jumped up lower low lower low bam bam bam and now we’re out of clicks in this was our bye signal right here Is the date that Nexus came green above orange? We should have been in there? We should have bought right, but then it went went up nice nice run Had another little aftershock and came right back down right, but it was hit with the exact same situation Not even you know six weeks later In quicksand need to break out. What do we do it come back again BAM? Hit him upside the head for another three thousand percent Three hundred percent and now it’s back in the exact same situation So this is why I? Wanted to do this chart because you can see that There is a strong correlation between those points, so if we just take a Fibonacci Extension from there, and this is the beauty of it you guys – they’re from low to low, but we know how those two points work And we say okay between that correlation show me something reverse it up. Let me know What’s the next natural point is on this chart? We can see that it gave us a Few things don’t look like you gave us much at first But when you know where to look it’s not hard to know where you’re going as well the most natural Area of that extension is that four point six one eight that was last area of? Consolidation we had before we broke back down Right that’s kind of like the homerun if you get up to the fork one six one eight you just hit a home run, right So in addition to that we cut to candle on we can see that this thing naturally started to fall at The three point two right there right it went up. Broke it a little bit. It came right back down What’s even more intriguing about this Fibonacci is even if you move it to? The intersection of the red and the green green above red and then let’s do this one Green above red check that out now. It’s like fine-tuning a knife You know sharpening a knife look at that now that four point six one eight almost goes exactly Perfect to the moment of time this thing broke out and you can play with it a little bit like you know I’m not I’m not even close in on like you can literally zoom in on these charts to the exact moment in time something happened so I Say all that to say this nexus is also a Very very very strong chart right now Another way to look at the Fibonacci is just what we did on the last chart right you just saw like a short quick Validation you can also do a long-range Validation where we go all the way up that most recent trend and now you can see that this thing basically stepped down the letter Crashdown tried to bounce right there didn’t make it right We’ll put this thing up a little bit to the red and there you go so Now it’s bowing something that didn’t make it right there But it’s coming in what’s called a? Ascending wedge right some people say. This is a bearish formation I Tend to think it can go both ways I think this is a situation where Nexus becomes very intriguing because not only does it have two other Confirmations of bouncing off this, but we just had a huge YouTube run, right So now this white line is coming flat if Nexus is able to get a quick break out here that will be enough to Continue in the pattern that we already formed right so How do we tell if it rebounds we can tell if it rebounds just based off? Let’s see This is our. This is our base trend line right here. Let’s cut off the red This is our base, turn line so as long as it does not as Long as the green Does not break that line right? this big big big Color it white if you want This big big white line as long as our 7 day moving average is above that line the Nexus has a much better chance of Continuing to go up than it does of going down right nothing’s guaranteed But it just basically shows you the different levels to which it would happen So say if we were gonna buy an Isis, this is what we would expect the first Area of breakdown would be anywhere below that orange line right? That’s like the ground floor. Let’s check this out What’s natural the nexus is? a huge huge run at least two I Would say right about there Right in between yeah right there at the bottom of that seven-day So we would be able to look at making a solid a solid 41% right there at the top of that 231 just on our first little spike here With the possibility of going all the way up To that one six one eight On our next huge breakout run Which will happen eventually it’s not a matter of if but when and this is a lot of times How I project you know future points as I say okay, if that’s our base rate. You know line then by This point over here We should reach that money zone that a 1.618 extension right because then you can like start the BACtrack horizontal lines You know to pinpoint different areas of events most likely to happen as long as you stay on track You’re gonna be fine all I’m doing it is if you look at my charts on trading view all they do is pinpoint different intersections of energy positive energy negative energy right you got both of them, so normally the money zone is Positive energy especially when it’s at the top of money zone because that’s like That’s like fight or flight remember what I said over on this side. There you go. You know I’m saying you’ve got a breakout or you go break down and most coins break out During this when this intersection happens right so that’s like the top right there But then also its entry into is if once you start to understand that and you start to see like Where these intersections happen at that distance in itself is actually? The Fibonacci line going that way You know I’m saying like this is 1 this is 3 this is 8 the next one would be 13 You know so so you start to get in some weird stuff with the correlations But that is the Fibonacci everybody it’s not perfect. I’m not saying that it’s perfect, but a lot of people ask me How do I know when certain events are gonna happen? This is how this is why because I just chart the energy of the intersections I extend them out to certain points I go back and chart another path of energy so say you know something like that You know was another path. That’s just arbitrary, but okay. Well. Let’s just make it real something like Break down That’s actually a path right there right so say we wanted to chart that one And throw it against it you know if that path was relevant in that chart, then that would give us Different events based on the intersection of those two lines within the same Fibonacci curve right And this actually becomes in if this path strays stays true then this Becomes the area of growth that Nexus Could have to where does something like this And this is just you know the example at this point something like that down and then up To that four six on it, but it’s all the natural extension of the same Relationship and at the end of the day, that’s all Fibonacci can do for you is show you how what you see right now? extends out as long as The future stays a part of the natural cycle that is on There you go guys. That’s it. That’s how you sharp like a boss Oh It’s a little bit longer than I wanted to spend talking about it, but I think it I think Hopefully it was good to go over to charts You can kind of see how you the Fibonacci is not set it’s not it’s not like Regimented to where you have to use it like this you have to go to the top of a candle to the bottom candle no It’s open to interpretation and the more you develop your own charting style the more you will understand How it fits the patterns that you begin to see naturally right? Everybody’s eye is different and so these charts when I draw a chart It’s the way my I see my brain sees it right when you draw a chart. You can see it completely differently I guarantee you it’s people out there right now saying oh my god He could have did this this and this and came up with a different relationship, and then drew this line in this line You know and saw a saw completely different story, right? But that’s the beauty of the Fibonacci as it doesn’t really matter. What story you draw It just shows you how that story will compete Continue naturally in the future Right so there. You go guys. Hopefully that was beneficial for you I’ll you know from time to time again. I’m gonna be doing like little intro how-to videos I thought this would be helpful for the community just to see like two different real-world examples digi buddy Nexus But you should know that only one of these coins is a part of our dream team right I’ll tell you after and every call I got I got to list I got the profit package and I got the dream King and That will take us into our next thing. This is your first time tuning in you do have a treat You are officially a part of history you know I’m saying this is the bus a Bitcoin and I want to show you the community We got online in the packages we got for you if you in the chat right now shout me out Shouts of people out let me know what country you are in so we could do our cloak global check-in in a second but for now We’re gonna go through these little options right here first thing you go to boss of Bitcoin You go see three options for you the first one is a profit package This is the movers the Shakers and the moneymakers. This is a hand selected list you guys I spent about two months about $20,000 in the market trying to figure out what the best coins were for you to get $25. It’s yours. This list is up no joke about 1,400 percent in the past two weeks using the boss method right next one We got is the dream team, and this is what I like This is this is that this the Golden Goose right now This list is the next generation tokens a lot of them are only one or two dollars When I make this list you could get the entire list with a $20 bill so what I’ve said is if you got a dollar And you got a dream then you got coin on this list and you can be profitable and as I told you earlier only One of those charts we saw today It’s good enough to make it on this list so you get it you get this package and you’ll understand Why and your opportunity to profit from it as a result last thing we got is the one-on-one meeting with the boss you click that last little icon right there pay the $25 that will open up my personal calendar say you wanted to do something Friday Morning, you know I’m saying after The Ellen Show click that button BAM We now got some face time baby, and this is my favorite part of the day. You know this is when I tell you what? Hold on hold on next time. Thank you. Hey, China They trying to cut the lights out, but I said no I said I said let there be light Take this stop word man every every day is an adventure trying to make this software work But I actually had a call this morning. Which was very inspirational would a you know I feel like he’s my he’s a you know like a like a legend The way that he was able to shed light, but yesterday was about three hours With an individual very influential individual in the digital space and I look forward to creating monumental Monumental things with him and I it’s really amazing just the people that you’re able to talk to the lives You’re able to touch, right? Because you know as I say all the time we live in a world where it’s very very very unfortunate But we in the world we’re all too often right This little piece of paper is all that matter You know our whole world is run by how many of these little pieces of paper we can Scab it together So my goal is to give out as many of these pieces of paper as Possible to anyone willing to manifest it through the method that I’ve developed It’s a patented method It’s very very very accurate very efficient, and it works, and it will bring a lot of these pieces of paper to you But in doing so you must then manifest more positivity as a result I believe society is sick Society is is sick and tired of being sick and tired and that’s why people are not happy, right people are inundated with Depressing and this Detrimental you know content on every digital platform you turn on you know any major media outlet You will hear the talking heads on TV with the voices in their ear and the words behind the screen telling them exactly what to? Say those talking heads will find 20 different ways to divide me from you, but not one way to bring us together Turn on any TV on Sunday look on Facebook on Sunday All you see is is people You know standing around in a circle some guys kneeling down some guys not and all of a sudden. That’s it That’s a point of controversy Let me tell you something it’s a thousand ways to keep people distracted from what’s important? But I found one way to bring longevity to the solution empower yourself use this method to Bypass all of that right more money. We have the happy. We are the happy. We are more. We can actually live right That’s what this method allows you to do, so if you like that By all means hit that thumbs up button baby is more to come Motor come with that being said let’s jump in the chat right now Right I like to end on a positive note so we go to our global check-in you can see you know the results from The dream team right there if you want them Pam So let’s go to our chat. Let’s see who we got rocking out with the boats right now We got Canada, Canada two times back to back off top the market Ranger one of our minds holding the chat down from town bolts walking on the west coast Romania Jersey big ups from South South Africa Yasin but down in South Africa. What’s going on baby appreciate the love, Seattle? USA you saw Orlando Santa Cruz see eggs Surfing on the west coast jerk money is in the building big Brian holding it down cross the ocean d g/b yes, we bought that one today point one point o 0.10.0 one Bitcoin, we just bought D. G B today, I didn’t go through the process of actually buying it I’ve done it enough, but yes. We are buying digi body to date BAM Let’s make some money right been asking for the Fed demo explanation bam. Thank you, man. Thank you ten dollars. I take it Norway’s UK is in the building Finland is in the building Paris France duskie turn money London Canada Romanian Netherlands, Switzerland and Belgium Turn money is like big strong strong So there you go guys That’s our that’s our community in a nutshell man. This is what we got. That’s what we do we come together We empower each other we prosper together, and we practice together right each one reach one we print each one You know I’m saying Come as you are but leave, but every chance that’s my goal That is my goal, and we are creating a coalition of empowered people as people that made money this week just by watching this channel As people that don’t make money tomorrow just by watching this channel It’s people that’s gonna make money a year from now just by watching this channel. I’m not stopping This method will not stop it beats the market ten to one So with that being said It’s that time of the day signing out this the boats your boy BK no matter Where you say from Brazil to the bank telephoning I gay all the way back out through jerk Mun man Good night. Good morning and good date. Thank you so much for taking the time to watch this video I certainly do appreciate it make sure you subscribe share this video do that for me if you appreciate mine till we meet again Stay cryptic y’all B’s

    Day trading lecture
    Articles, Blog

    Day trading lecture

    August 16, 2019


    Hey everybody! Today I’m gonna do a training in less than five minutes. I’m going to show you how to leverage your time and intelligence by using the stock market. Now to do that. I’m going to illustrate Michael’s situation. Now, Michael is a student of ours and he was previously an engineer who quit because he went to school, a lot of education, some of you have are probably in the same boat. Went to school, got a good education, got a job. Michael had some income which paid for his lifestyle, his bills, his debt and whatever had left over for savings But forced him back to the job, and I’m just drawing this here. You’ve probably seen this referred to as the rat race before, the rat race is traiding the time for the money really because what ends up happening is you have to go back to the job, so it ends up the time and your job becomes so closely correlated and this is the same thing that happened with Michael, now he was by all intents and purposes a successful person because he had an engineering degree and he was an engineer and he came to me and says: ”James I hate this You know the higher up I want to go to live a better lifestyle and to create more savings the deeper I dig myself because I just end up spending more time there All right. I just ended up spending more time than they keep throwing stuff on my plate” The way we helped Michael solve this is by This little pyramid and this is why this training can be so short it is just this five-step pyramid here to how Michael was successful in the markets and this is what we call this the Context Alpha Trading Method. You don’t need to write the rest. Context Alpha Trading Method and essentially what it is You’re trading the financial markets, but you’re not It’s not one of those things where you have to understand all of the overwhelm with financial markets because it can get overwhelming at times. The Context Alpha Trading Method is you just focus on one market That markets leverage so we don’t need to look in 20 different markets stand in a black room with all these different screens So it’s one market. When you learn that market you’re gonna learn the Context of that market because you’re only looking at one market. The Context is much easier and when I mean context is what kind of story is the market telling us because each market has its own intricacies and if you read the market like a story you’re so far ahead of most other traders, and when you understand the Context, then you can create a simple trading Plan to trade that Context Remember, you’re only trading that one market. So these steps are all the traiding aspect This is the traiding aspect of the system and then you have Execution So I’ll just put Execute, this is psychology. So in the in the psychology part you’re just putting these three things together and Executing that play in that contextual trading plan you came up with and then at the end Capital. Need trading capital to succeed in markets. This is That word everybody likes to avoid – money. So the trading part, the psychology part, the money part It’s all in this triangle the first three parts of the trading Market, only trading one market treating the Contextual Plan and then you just Execute that plan That’s all you have to do. If you have the capital like Michael, we actually gave Michael the capital so that he didn’t have to worry so much about the psychology He could just execute his trading plan flawlessly and this is where many traders go wrong And I wouldn’t let our traders go wrong here because you can have the best Understanding contextual plan and execute the plan, but you can’t really execute it perfectly If you don’t have the capital, and Michael, we gave Michael the capital and he was successful and he did this: Quit being an engineer because of this, because it’s a hyper focus on one market You’re just learning that one market and if you have the contextual plan to the market And we just move ourselves up the ladder and we can execute that plan, all of these things Move on top of each other and that’s why it’s in this little triangle here So that’s all that we had to do with Mike. Michael had no trading experience whatsoever all we had to do was getting him moving up this triangle to decouple to get rid of this cycle Michael’s time was going to his job to give him some money which would require more of his time and this can get you Out of that because if you’re only trading one market, then you don’t have to sit at the computer screen all day Michael didn’t have to sit the computer screen all day because he only needs to look at one market, he doesn’t need to scan 100 different markets. If he understands that market well enough to create a plan He doesn’t have to sit at the computer screen all day because he could just execute his plan because he has enough trading capital to not have to worry about the little noise that happens in the market. The markets move very randomly a lot of times so Sitting there looking at it doesn’t do you any good Didn’t do Michael any good. So what we had to have Michael do was create the plan Execute the plan and walk away from it Knowing that he had enough capital to let the plan work and not have to micromanage the trades so that in five minutes is how Michael was able to go from an engineer to a trader and It’s just following this little triangle right here. So I hope you found that useful and we’ll talk to you soon.