WEBVTT - Quick Hit: Verizon's Secret $40 Unlimited Plan Gets Even Better

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<v Speaker 1>What's going on. I'm Rich Demiro and this is a

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<v Speaker 1>Rich on Tech quick hit. How does phone service for

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<v Speaker 1>just forty dollars a month sound? Well, that's the idea

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<v Speaker 1>behind Visible. This is a service that is all included

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<v Speaker 1>for forty dollars a month, and the key part of

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<v Speaker 1>the deal is that the Visible network is actually Verizon's network.

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<v Speaker 1>Joining me now is Miguel key roga CEO of Visible,

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<v Speaker 1>to tell me all about it. Miguel, Welcome to the show.

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<v Speaker 2>Thanks Rich, glad to be here.

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<v Speaker 1>So tell me about Visible. Because we did this story

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<v Speaker 1>last year on KTLA. It was one of the most

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<v Speaker 1>one of the most popular stories of twenty eighteen because

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<v Speaker 1>nobody could believe that you can get basically Verizon service

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<v Speaker 1>for forty dollars a month.

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<v Speaker 2>That's right, Yeah, No, it's been super exciting and thanks

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<v Speaker 2>for having us back on.

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<v Speaker 1>Yeah.

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<v Speaker 2>So, basically Visible is a simple, easy to use, one price,

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<v Speaker 2>one plan, so unlimited data, voice, text, mobile hotspot on

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<v Speaker 2>Verizon's fourteen for gale network for forty dollars a month.

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<v Speaker 2>And the key is that there's no taxes, no fees,

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<v Speaker 2>no additional activation charges. It's what you see is what

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<v Speaker 2>you get. And I think the key to this whole

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<v Speaker 2>offering is how do we make sure we give customers

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<v Speaker 2>exactly what they're looking for, which is great service, great experience,

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<v Speaker 2>and a great product.

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<v Speaker 1>Now here's the thing. When we talked about this the

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<v Speaker 1>first time around, you had a five megabit limit on

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<v Speaker 1>the speed So that was basically the only downside or

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<v Speaker 1>catch per se that I can find was that you know,

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<v Speaker 1>your speed was limited. So it was on the Verizon network,

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<v Speaker 1>but it was you know, the data was capped in

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<v Speaker 1>a way where if you're trying to download a file,

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<v Speaker 1>it might be slower than someone next to you on

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<v Speaker 1>a Verizon phone. Now you're telling me that you're actually

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<v Speaker 1>going to lift that speed cap, so tell me about that.

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<v Speaker 2>Yeah, it's interesting. You know, we you and many others

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<v Speaker 2>had talked about like what is the ractual difference in

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<v Speaker 2>that speed cap, And what we found for most customers

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<v Speaker 2>is that it didn't have a material difference in terms

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<v Speaker 2>of the type of experience that they actually had. But

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<v Speaker 2>on the other hand, we actually did have customers who

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<v Speaker 2>had specific use cases and they felt like, hey, there

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<v Speaker 2>are some things we could try to do. So, you know,

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<v Speaker 2>we heard a lot of that chatter and kind of

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<v Speaker 2>the premise of our business is how do we how

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<v Speaker 2>do we actually deliver the type of experience as customers

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<v Speaker 2>want and we'll actually just try it. And so essentially

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<v Speaker 2>that's what we're doing. So for a limited time, both

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<v Speaker 2>for new and existing members, will offer essentially no speed

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<v Speaker 2>cap for no additional costs. And what that allows us

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<v Speaker 2>to do is really understand what the member experience is

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<v Speaker 2>without that speed cap and see if essentially it's accomplishing

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<v Speaker 2>some of the things that users have asked us they'd

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<v Speaker 2>like to do.

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<v Speaker 1>So you said existing users will get this, as we'll

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<v Speaker 1>new and new, and you say it's limited time, So

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<v Speaker 1>what does that mean for me if I sign up?

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<v Speaker 2>So if you sign up today, as long as you're

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<v Speaker 2>a Visible member, you always have essentially that speedcap removed.

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<v Speaker 1>So you may you reserve the right to remove it

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<v Speaker 1>for future customers, you know, like if you say, okay,

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<v Speaker 1>this is just getting too crazy, then you can maybe

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<v Speaker 1>take that away. But if I sign up for this

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<v Speaker 1>under this plan, that's it.

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<v Speaker 2>That's it a month.

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<v Speaker 1>Okay. Tell me the relationship between Visible and Verizon.

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<v Speaker 2>Yeah, so Visible is a fully omeed subsidiary of Verizon.

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<v Speaker 2>We operate independently. Our entire infrastructure, our tech stack, or

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<v Speaker 2>people or operations are run independently. And the premise of

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<v Speaker 2>what Visible is about, it's based on the basic consumer

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<v Speaker 2>insight that says, Look, the mobile carry industry is many

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<v Speaker 2>decades in the making, it's incredibly important in day to

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<v Speaker 2>day modern life. But there's a way to make it better.

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<v Speaker 2>Why can't that experience be better? Why do I have

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<v Speaker 2>to sit in line in a store or I have

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<v Speaker 2>to wait on a phone to actually get the basic services?

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<v Speaker 2>And why do I have to be surprised about a

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<v Speaker 2>bill that's constantly changing underneath me. So those basic things

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<v Speaker 2>we think can be done properly and done well, and

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<v Speaker 2>so we built Visible from the ground up with that

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<v Speaker 2>concept in mind, really customer first, customer centric type of

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<v Speaker 2>product development, and that's how we arrived at the type

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<v Speaker 2>of offering we had with based on all the research

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<v Speaker 2>and consumer feedback we received.

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<v Speaker 1>Now, some people might think, oh my gosh, why would

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<v Speaker 1>Visible or why would Verizon allow this to happen, But

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<v Speaker 1>the reality is they're two different offerings. Verizon is full

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<v Speaker 1>service everything you need you want to activate an Apple Watch,

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<v Speaker 1>that you can do that you want international, you can

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<v Speaker 1>do that. You want to go into a store and

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<v Speaker 1>talk to someone, you can do that. Visible is different

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<v Speaker 1>because it's really geared towards I'm seeing it as like

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<v Speaker 1>the single line consumer, right, kind of a smart consumer

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<v Speaker 1>that wants to save money but also wants a really

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<v Speaker 1>good network. Because you can get forty dollars plans, you

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<v Speaker 1>can get twenty five dollars plans. You're not getting the

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<v Speaker 1>Verizon network with those plans per se.

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<v Speaker 2>Yeah, and I think we think about it as one

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<v Speaker 2>of the most compelling offers in the market for that

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<v Speaker 2>exact audience you describe a single line customer. You know,

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<v Speaker 2>we have customers who can come up now and if

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<v Speaker 2>they have an iOS device, they can basically broadly be

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<v Speaker 2>compatible with the network. And they also we've also introduced

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<v Speaker 2>the ability to buy devices as well, so you can

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<v Speaker 2>buy iPhone devices, you can buy Android devices also, so

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<v Speaker 2>for customers that are looking to not only switch carriers

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<v Speaker 2>but also purchasing the device, we offer zero percent financing,

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<v Speaker 2>zero dollars down as well as device protection. So those

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<v Speaker 2>different offerings and capabilities we think give customers what they're

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<v Speaker 2>looking for in a mobile carrier without all the complexities.

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<v Speaker 2>You know, they can essentially have that experience you just

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<v Speaker 2>describe from the comfort of the couch or their life

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<v Speaker 2>and the go. And that's really what we're pointing at,

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<v Speaker 2>is trying to help those customers and meet their needs.

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<v Speaker 1>And the way that you sign up for Visible is

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<v Speaker 1>all through the app. So if I have if I

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<v Speaker 1>have a Verizon phone, I assume it works pretty simply.

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<v Speaker 1>You know, I can put in my Visible SIM and

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<v Speaker 1>it works. What if I'm coming from like eighteen and

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<v Speaker 1>T I'd have to get a new phone basically, or

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<v Speaker 1>is iPhone not because it's got all the bars or

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<v Speaker 1>all the bands?

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<v Speaker 2>I don't know. Yeah, So the best way to think

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<v Speaker 2>about it is the iPhone ecosystem of phones is broadly

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<v Speaker 2>pretty much everything is compatible from six on up, and

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<v Speaker 2>there's a few devices but just a double check. You

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<v Speaker 2>can go online you can validate that your specific phone

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<v Speaker 2>is compatible, but broadly iOS ecosystem is fully compatible. Then

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<v Speaker 2>we have specific Android devices. As we go, We're arranging

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<v Speaker 2>more and more new devices as we work with different manufacturers.

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<v Speaker 2>So for example, we have the Samsung S nine, the

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<v Speaker 2>Pixel three and three XL, and we have other devices

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<v Speaker 2>coming up in short order the next coming weeks and

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<v Speaker 2>we're super excited about that also.

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<v Speaker 1>But bottom line, if I have an iPhone, even from

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<v Speaker 1>a different carrier, chances are I can get it to

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<v Speaker 1>work with it, right yeah, yeah, And so I have

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<v Speaker 1>to send away for a SIM, that's right. So when

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<v Speaker 1>I sign up in the app or I so tell

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<v Speaker 1>me how that process works. I can't really go to

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<v Speaker 1>like I can't go to Best Buy and get like

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<v Speaker 1>a SIM, that's right.

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<v Speaker 2>Yeah, So I mean part of it. It's like think

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<v Speaker 2>of it like phone in a box if you will. So,

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<v Speaker 2>like we'll just ship you essentially everything you need to

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<v Speaker 2>basically get started. So you go online, you go into

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<v Speaker 2>the app, or you go into the website Visible dot com.

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<v Speaker 2>You essentially do the sign up process. We'll ship you

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<v Speaker 2>overnight you a SIM, and we'll deliver you that SIM

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<v Speaker 2>directly to you. You can then activate it whenever you need.

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<v Speaker 2>You don't have to sit in line waiting for the

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<v Speaker 2>next person to get in line to actually activate your

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<v Speaker 2>your service, and we'll basically help you through that process.

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<v Speaker 1>So forty dollars a month, what do I get for

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<v Speaker 1>that price?

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<v Speaker 2>Yeah?

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<v Speaker 1>So so there, it's all included. So it's taxi fees.

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<v Speaker 1>Everything is is so my bill is on my credit card.

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<v Speaker 1>Forty bucks a month.

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<v Speaker 2>Yeah, you get forty bucks a month, and that's it, Like,

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<v Speaker 2>no taxes and fees, that's all included. There's no activation

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<v Speaker 2>on the device, there's no activation for the service there.

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<v Speaker 2>That's it, you know. So today it's forty dollars and

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<v Speaker 2>the next month that's going to be forty dollars, So

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<v Speaker 2>it's highly consistent. What you get essentially is the full offering.

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<v Speaker 2>It's the unlimited data, voice, text, and mobile hotspot on

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<v Speaker 2>Verizon's four GLT network and now for limited time as well,

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<v Speaker 2>the uncapped five megabit data speed.

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<v Speaker 1>So it sounds too good to be true. If I'm

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<v Speaker 1>explaining someone this plan, they're like, well, I'm paying ninety

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<v Speaker 1>dollars through my regular carrier, how is it forty bucks?

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<v Speaker 2>Yeah, that's a great question. Our business model is set

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<v Speaker 2>up to essentially solve that specific customer pain point, and

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<v Speaker 2>we're passing a lot of the things that we know

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<v Speaker 2>about the mobile industry as value propositions directly to the customer.

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<v Speaker 2>So because we don't have the store environment, because we

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<v Speaker 2>are essentially doing it direct to consumer, there's no middle

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<v Speaker 2>person involved, in no middle layer where we'll provide that

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<v Speaker 2>simple experience directly to the customer.

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<v Speaker 1>Okay, and how has been business been? Because we did

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<v Speaker 1>a story with you when this basically first came out

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<v Speaker 1>and it's about how long now it's.

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<v Speaker 2>Just been about a year, and we're really excited and

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<v Speaker 2>we're feeling very confident about the scale of the business

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<v Speaker 2>and the business model. It's really proving well and consumer

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<v Speaker 2>engagement is really high. We really think that overall, we're

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<v Speaker 2>excited about where the business is going and the additional

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<v Speaker 2>interest that it's continuing to generate. It's amazing to exactly

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<v Speaker 2>your point, Like, when you think about it, it's too

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<v Speaker 2>good to be true. Consumers just value the basics right.

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<v Speaker 2>If you get the basics right, that's what's really compelling,

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<v Speaker 2>because so often in this category many you know, you're

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<v Speaker 2>surprised and it's not always the best of surprises. And

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<v Speaker 2>what our goal here is get the basics right. And

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<v Speaker 2>when you get the basics right, the product experience is

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<v Speaker 2>awesome and that's what people really value.

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<v Speaker 1>I imagine you walk around the halls that you're do

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<v Speaker 1>you share offices with Verizon.

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<v Speaker 2>At all your own headquarters.

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<v Speaker 1>Okay, they probably did that on purpose, because I can

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<v Speaker 1>imagine the Verison people going like, wait a second, why

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<v Speaker 1>do they get to do that. We can't do that,

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<v Speaker 1>we can't offer that, we can't have that, and you

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<v Speaker 1>guys just keep like breaking all the rules. Right. Do

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<v Speaker 1>you feel like that? Do you feel like the rule

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<v Speaker 1>breaker at Verizon? Like, I'm glad they're letting me do this.

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<v Speaker 2>I think the way we think about it is there's

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<v Speaker 2>an opportunity to change the industry. You know, the industry

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<v Speaker 2>has been largely the same for a number of decades,

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<v Speaker 2>and we think there's an up to you to do

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<v Speaker 2>something new. It's twenty nineteen, you know, there's all the

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<v Speaker 2>things that we know about how business models can change,

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<v Speaker 2>and we willing to bring directly to the consumer. And

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<v Speaker 2>we don' want to wait for something to happen. We

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<v Speaker 2>want to make it happen. So we're leaning into that

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<v Speaker 2>and really helping bring that type of offering to the customer.

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<v Speaker 1>All right, Miguel key, Roga, CEO of Visible, anything else

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<v Speaker 1>we should know before we go?

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<v Speaker 2>H No, I think you know. Visible is here to

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<v Speaker 2>basically try to solve this customer challenge in the environment

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<v Speaker 2>of how do I get mobile connectivity and mobile the

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<v Speaker 2>service to be simple, transparent, and easy to use. Every day,

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<v Speaker 2>we're focused on that. Every day we're focused on helping

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<v Speaker 2>our members have that type of experience. So we're super

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<v Speaker 2>excited to be here and look us up.

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<v Speaker 1>All right, Visible dot com. Thanks so much for joining

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<v Speaker 1>me today on the podcast. I do appreciate it, and

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<v Speaker 1>thanks to you for listening. If you like what you hear,

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<v Speaker 1>definitely subscribe in your favorite podcast app, and since this

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<v Speaker 1>is the new quick hit version of the podcast, let

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<v Speaker 1>me know on social media if you like it. You

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<v Speaker 1>can find me at rich on tech Omrich damiro. I'll

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<v Speaker 1>talk to you real soon. Bye bye