1
00:00:02,160 --> 00:00:07,440
Speaker 1: This is Master's in Business with Barry Ridholds on Bloomberg Radio.

2
00:00:09,240 --> 00:00:12,200
Speaker 2: This week on the podcast, I have an extra special guest.

3
00:00:12,680 --> 00:00:18,439
Speaker 2: Joanne Bradford has had really a fascinating career in technology,

4
00:00:18,800 --> 00:00:23,520
Speaker 2: marketing and finance. She was chief revenue officer at Microsoft.

5
00:00:24,520 --> 00:00:28,920
Speaker 2: She was chief marketing officer at SOFI. She had very

6
00:00:29,000 --> 00:00:34,680
Speaker 2: senior roles at places like Yahoo, Pinterest, Demand Media, BusinessWeek.

7
00:00:34,800 --> 00:00:40,600
Speaker 2: She has a number of investments as really a entrepreneur

8
00:00:40,680 --> 00:00:45,000
Speaker 2: and a venture investor. Domain Money is one of the

9
00:00:45,000 --> 00:00:48,559
Speaker 2: big ones. She's also involved with wealth dot com. And

10
00:00:49,080 --> 00:00:51,360
Speaker 2: I could give you a long list of all the

11
00:00:51,400 --> 00:00:57,160
Speaker 2: things she's done cahoot, super Telly, just all these really

12
00:00:57,160 --> 00:01:03,520
Speaker 2: fascinating startups. She has had just an unbelievably interesting career

13
00:01:04,120 --> 00:01:07,240
Speaker 2: and is one of these people who looks at every

14
00:01:07,440 --> 00:01:10,959
Speaker 2: role she's had in a company as a challenge and

15
00:01:11,000 --> 00:01:16,759
Speaker 2: an opportunity, and she has really managed to accomplish tremendous things,

16
00:01:16,800 --> 00:01:21,759
Speaker 2: not just at Microsoft where she ran MSN's advertising and marketing,

17
00:01:22,120 --> 00:01:25,720
Speaker 2: not just at Yahoo or Pinterest, but even a small

18
00:01:25,720 --> 00:01:30,680
Speaker 2: startup like Honey, which she was president and sold pretty

19
00:01:30,760 --> 00:01:34,679
Speaker 2: quickly to PayPal for four billion dollars. Anytime I get

20
00:01:34,720 --> 00:01:37,840
Speaker 2: to speak with Joanne. I always come away feeling like

21
00:01:37,959 --> 00:01:40,720
Speaker 2: I've learned so much and gained so much from the experience.

22
00:01:41,319 --> 00:01:44,520
Speaker 2: I found our conversation fascinating, and I think you will

23
00:01:44,560 --> 00:01:49,200
Speaker 2: also with no further ado my discussion with domain monies.

24
00:01:49,840 --> 00:01:52,560
Speaker 1: Joanne Bradford, thank you so much, very it's an honor

25
00:01:52,600 --> 00:01:53,040
Speaker 1: to be here.

26
00:01:53,200 --> 00:01:55,080
Speaker 2: Well, it's a privilege to have you. You and I had

27
00:01:55,080 --> 00:01:58,280
Speaker 2: a conversation not too long ago, and so much of

28
00:01:58,320 --> 00:02:01,560
Speaker 2: what you do is so interesting and so fascinating and

29
00:02:01,720 --> 00:02:07,160
Speaker 2: so beneath the radar of the average investors', you know, horizon.

30
00:02:07,200 --> 00:02:10,800
Speaker 2: I thought, let's bring in Joanne and talk about what

31
00:02:10,840 --> 00:02:13,600
Speaker 2: a fascinating career you've had. But I got to start

32
00:02:13,639 --> 00:02:18,040
Speaker 2: with your education. You started what is that San Diego State,

33
00:02:18,880 --> 00:02:21,760
Speaker 2: studying journalism and Advertising ADS TECHS.

34
00:02:21,800 --> 00:02:25,800
Speaker 1: I was a journalism major because it was the easiest

35
00:02:25,880 --> 00:02:30,280
Speaker 1: major at the time, and I went and took advertising

36
00:02:30,280 --> 00:02:34,440
Speaker 1: courses and went to work at my college newspaper. One

37
00:02:34,520 --> 00:02:37,639
Speaker 1: side where the writers, one side where the ad sales people.

38
00:02:37,680 --> 00:02:40,519
Speaker 1: They paid the ad salespeople. So I went in there

39
00:02:40,600 --> 00:02:43,519
Speaker 1: and didn't turn back for twenty years. And so I've

40
00:02:43,520 --> 00:02:46,840
Speaker 1: sold billions of dollars worth of advertising in my life.

41
00:02:47,080 --> 00:02:51,440
Speaker 2: So southern California in the late nineteen eighties. Yeah, what

42
00:02:51,720 --> 00:02:53,320
Speaker 2: was the tech world like there?

43
00:02:53,480 --> 00:02:57,720
Speaker 1: There was no tech world really, I mean you know.

44
00:02:57,800 --> 00:03:00,680
Speaker 1: After I graduated from college, I went to work in

45
00:03:00,760 --> 00:03:04,040
Speaker 1: the Macy's management program because they were the only people

46
00:03:04,040 --> 00:03:06,440
Speaker 1: that were hiring. It was either go drive a Fredo

47
00:03:06,560 --> 00:03:10,760
Speaker 1: Lay truck or Macy's management program. I did that for

48
00:03:10,800 --> 00:03:14,639
Speaker 1: two years. It was fun, learned how to buy merchandise.

49
00:03:15,080 --> 00:03:17,560
Speaker 1: But my love of advertising called and so I ended

50
00:03:17,639 --> 00:03:21,840
Speaker 1: up working at BusinessWeek magazine for almost thirteen years.

51
00:03:22,200 --> 00:03:25,320
Speaker 2: Right, this was the previous business Week before its acquisition

52
00:03:25,400 --> 00:03:26,920
Speaker 2: by bloomber so it was.

53
00:03:26,960 --> 00:03:29,919
Speaker 1: Part of was part of McGraw hill gra Hill.

54
00:03:29,919 --> 00:03:32,960
Speaker 2: I also owns SMP. Yeah, so what did you do

55
00:03:33,000 --> 00:03:33,720
Speaker 2: with BusinessWeek?

56
00:03:34,400 --> 00:03:37,680
Speaker 1: They sent me to a little known land called San

57
00:03:37,760 --> 00:03:41,120
Speaker 1: Jose and Silicon Valley to sell advertising, and I sold

58
00:03:41,120 --> 00:03:45,320
Speaker 1: ads to people like Hewlett Packard and Cisco when they

59
00:03:45,360 --> 00:03:49,520
Speaker 1: had one hundred employees. And I went to Seattle and

60
00:03:49,560 --> 00:03:54,320
Speaker 1: called on a little company called Microsoft and learned everything

61
00:03:54,600 --> 00:03:59,760
Speaker 1: I could about technology. Sun Microsystems was the hot ticket

62
00:03:59,760 --> 00:04:03,360
Speaker 1: at the point in time, and I talked BusinessWeek into

63
00:04:03,400 --> 00:04:06,880
Speaker 1: buying me an Apple computer and signing me up for

64
00:04:06,920 --> 00:04:09,680
Speaker 1: an AOL account. And I never looked back on tech.

65
00:04:09,960 --> 00:04:13,080
Speaker 2: In hindsight, all these ads you sold, you should have

66
00:04:13,400 --> 00:04:15,160
Speaker 2: had them pay for it in stock and it would

67
00:04:15,200 --> 00:04:16,479
Speaker 2: have worked out even better.

68
00:04:16,839 --> 00:04:19,720
Speaker 1: Well, you do learn a lesson about equity based comp

69
00:04:19,800 --> 00:04:22,760
Speaker 1: and I finally got that right later on, which we

70
00:04:22,760 --> 00:04:27,480
Speaker 1: can talk about. But yeah, I was making commission at

71
00:04:27,560 --> 00:04:31,279
Speaker 1: that point in time. So when I was a salesperson

72
00:04:31,440 --> 00:04:36,279
Speaker 1: at BusinessWeek, I sold more ads than anybody and I

73
00:04:36,360 --> 00:04:40,040
Speaker 1: made two million dollars commission when I was twenty nine

74
00:04:40,080 --> 00:04:40,520
Speaker 1: years old.

75
00:04:40,560 --> 00:04:42,400
Speaker 2: That's a lot of money. It was how do you

76
00:04:42,440 --> 00:04:44,640
Speaker 2: go from BusinessWeek to Microsoft?

77
00:04:45,040 --> 00:04:47,839
Speaker 1: Well, BusinessWeek wanted me to move to New York to

78
00:04:47,880 --> 00:04:52,000
Speaker 1: become the associate publisher nine to eleven happened. My husband

79
00:04:52,040 --> 00:04:55,080
Speaker 1: wasn't that excited to come to New York City, and

80
00:04:55,640 --> 00:04:58,040
Speaker 1: so I said, I have to go beg borrow and

81
00:04:58,080 --> 00:05:00,760
Speaker 1: steal my way into a technology company. So I got

82
00:05:00,800 --> 00:05:05,120
Speaker 1: the job as chief revenue officer of MSN in two

83
00:05:05,160 --> 00:05:09,760
Speaker 1: thousand and one. Nobody believed the bust had happened. Nobody

84
00:05:10,080 --> 00:05:12,839
Speaker 1: was buying spots and dots or ads on the Internet,

85
00:05:14,279 --> 00:05:16,279
Speaker 1: And so I went to work there and Over the

86
00:05:16,279 --> 00:05:19,640
Speaker 1: course of seven years, I grew it from nothing to

87
00:05:19,880 --> 00:05:22,640
Speaker 1: two and a half billion dollars in revenue. We did

88
00:05:23,160 --> 00:05:25,839
Speaker 1: a deal with Facebook to represent them. That led to

89
00:05:25,880 --> 00:05:32,080
Speaker 1: their investment, Microsoft's investment in Facebook. We did video ads,

90
00:05:32,160 --> 00:05:37,760
Speaker 1: the first video ads, We formed the Hulu Consortium. There

91
00:05:37,760 --> 00:05:40,280
Speaker 1: were a lot of first during those periods at Microsoft.

92
00:05:40,320 --> 00:05:44,039
Speaker 1: It was an amazing, amazing time in my career, and

93
00:05:44,120 --> 00:05:48,680
Speaker 1: Microsoft was an insanely good company to work for. To

94
00:05:48,800 --> 00:05:51,840
Speaker 1: learn how to work at an engineering led company.

95
00:05:51,600 --> 00:05:53,000
Speaker 2: Hually really intriguing.

96
00:05:53,040 --> 00:05:53,240
Speaker 1: You know.

97
00:05:53,720 --> 00:05:57,719
Speaker 2: We look at these economic busts or these market crashes,

98
00:05:57,760 --> 00:06:03,400
Speaker 2: and it's obvious in hindsight what spectacular opportunities they were.

99
00:06:04,040 --> 00:06:06,960
Speaker 2: What did you see in two or three that led

100
00:06:07,000 --> 00:06:09,240
Speaker 2: you to say, I know, let me find one of

101
00:06:09,279 --> 00:06:13,000
Speaker 2: these broken down tech companies and start something fun there.

102
00:06:13,760 --> 00:06:18,200
Speaker 1: Well, you know, so at Microsoft, when I went there,

103
00:06:18,360 --> 00:06:21,760
Speaker 1: I knew that people were spending more time online, and

104
00:06:21,839 --> 00:06:25,719
Speaker 1: I knew that advertising dollars would eventually follow. That. We

105
00:06:25,800 --> 00:06:29,120
Speaker 1: had to convince the industry, and I had to go

106
00:06:29,279 --> 00:06:32,080
Speaker 1: convince people like Procter and Gamble and Coca Cola and

107
00:06:32,120 --> 00:06:36,080
Speaker 1: Walmart that they should spend money with Microsoft. They were

108
00:06:36,080 --> 00:06:38,640
Speaker 1: spending most of their money with Yahoo. Google wasn't on

109
00:06:38,760 --> 00:06:42,200
Speaker 1: the scene yet, and so we did crazy things. We

110
00:06:42,240 --> 00:06:45,960
Speaker 1: did flyovers on the front page because that made marketers

111
00:06:45,960 --> 00:06:48,159
Speaker 1: feel good and feel like they were doing me.

112
00:06:48,320 --> 00:06:50,279
Speaker 2: Someone lands on the page and it's like a takeover.

113
00:06:50,480 --> 00:06:52,920
Speaker 1: Yeah, takeovers like that was the hot thing. You could

114
00:06:52,920 --> 00:06:55,760
Speaker 1: sell a takeover for a million dollars a day at

115
00:06:55,760 --> 00:06:59,400
Speaker 1: that point in time. So I, you know, I learned

116
00:06:59,480 --> 00:07:02,520
Speaker 1: so much and Microsoft was like a startup inside of

117
00:07:02,520 --> 00:07:05,960
Speaker 1: a big company for me. I worked my last job there.

118
00:07:06,000 --> 00:07:10,960
Speaker 1: I worked and reported to Satia Nadella, which is amazing, Yeah, amazing.

119
00:07:11,520 --> 00:07:16,160
Speaker 2: He's done great things as the third CEO of Microsoft,

120
00:07:16,280 --> 00:07:21,320
Speaker 2: really has led them back to great success. If you're

121
00:07:21,400 --> 00:07:24,120
Speaker 2: doing MSN at Microsoft, how do you end up at

122
00:07:24,160 --> 00:07:26,680
Speaker 2: places like Yahoo and Pinterest.

123
00:07:26,960 --> 00:07:31,160
Speaker 1: Well, so when I went to leave Microsoft, I'd sort

124
00:07:31,160 --> 00:07:36,200
Speaker 1: of done everything that I could do up until I

125
00:07:36,280 --> 00:07:38,280
Speaker 1: was a corporate vice president. There was one hundred and

126
00:07:38,280 --> 00:07:40,000
Speaker 1: twenty five of us, and I was like, I want

127
00:07:40,040 --> 00:07:43,400
Speaker 1: to go really be an entrepreneur. I wanted to start something,

128
00:07:44,160 --> 00:07:46,960
Speaker 1: and I went to a little startup that was a failure.

129
00:07:47,920 --> 00:07:50,800
Speaker 1: Not all startups are great. This one had taken a

130
00:07:50,920 --> 00:07:55,560
Speaker 1: hundred million dollars, didn't really have a product, and I

131
00:07:55,600 --> 00:07:58,760
Speaker 1: spent six months there and said, get me out of here. Safe.

132
00:07:58,800 --> 00:08:01,400
Speaker 2: But by the way, safe to say most startups are

133
00:08:01,400 --> 00:08:02,280
Speaker 2: going to crash and burn.

134
00:08:02,360 --> 00:08:06,600
Speaker 1: Most are going to crash and burn. You know, it's romanticized.

135
00:08:06,680 --> 00:08:10,280
Speaker 1: It's hard to navigate as an employee. You don't know

136
00:08:10,320 --> 00:08:13,640
Speaker 1: what to ask for, what to look at. So then

137
00:08:13,680 --> 00:08:18,440
Speaker 1: I knew the Yahoo folks, Jerry Yang and Sue Decker

138
00:08:19,480 --> 00:08:21,360
Speaker 1: asked me to come in and help them. In two

139
00:08:21,360 --> 00:08:25,480
Speaker 1: thousand and eight, again a giant crash like right, So

140
00:08:25,520 --> 00:08:28,400
Speaker 1: I went to Yahoo and worked on their revenue and

141
00:08:28,480 --> 00:08:33,400
Speaker 1: sales and marketing for a few years. And then I

142
00:08:33,520 --> 00:08:35,920
Speaker 1: really still had the entrepreneurial itche So I went to

143
00:08:35,960 --> 00:08:38,679
Speaker 1: a company called demand Media, which was sort of the

144
00:08:38,720 --> 00:08:42,560
Speaker 1: first reverse engineering of the algorithm. We looked at what

145
00:08:42,640 --> 00:08:45,560
Speaker 1: people were searching for, you know, how to make a

146
00:08:45,600 --> 00:08:48,679
Speaker 1: smoky eye, how to write a check, how to make

147
00:08:48,720 --> 00:08:52,440
Speaker 1: a strawberry margarita, and then we'd write that content. And

148
00:08:52,480 --> 00:08:54,960
Speaker 1: it was called demand Media, and we took it public.

149
00:08:55,760 --> 00:08:58,360
Speaker 1: We were doing four hundred and fifty million dollars in revenue.

150
00:08:58,840 --> 00:09:02,840
Speaker 1: Google change the algorithm and wiped out the business and

151
00:09:02,880 --> 00:09:07,600
Speaker 1: So everybody out there that is AI dependent, Remember, the

152
00:09:07,679 --> 00:09:09,040
Speaker 1: algorithm can change.

153
00:09:09,840 --> 00:09:13,600
Speaker 2: It's really true if you are at all interested. You

154
00:09:13,600 --> 00:09:17,160
Speaker 2: and I have talked about LinkedIn versus Twitter. If you're

155
00:09:17,200 --> 00:09:20,760
Speaker 2: on someone else's platform as opposed to your own website,

156
00:09:21,520 --> 00:09:26,400
Speaker 2: you're absolutely at the mercy and the whim. It doesn't

157
00:09:26,440 --> 00:09:30,040
Speaker 2: matter if it's Elon Musk or Google just tweaking to

158
00:09:30,040 --> 00:09:33,880
Speaker 2: get better results. If the algo changes and it affects

159
00:09:35,080 --> 00:09:38,800
Speaker 2: how often people see your work on that platform, it's

160
00:09:38,840 --> 00:09:41,360
Speaker 2: a very difficult circumstances.

161
00:09:41,480 --> 00:09:45,160
Speaker 1: Yeah, everybody out there that has dependencies on those platforms

162
00:09:45,200 --> 00:09:51,000
Speaker 1: needs to figure out alternative channels and alternative ways. And

163
00:09:51,720 --> 00:09:55,960
Speaker 1: you know that is just an important important task for people.

164
00:09:56,440 --> 00:10:00,959
Speaker 1: You can't just optimize. You know, Google will change the algorithm,

165
00:10:01,320 --> 00:10:05,920
Speaker 1: they'll change the UI, they'll change the rules. You know,

166
00:10:06,080 --> 00:10:10,920
Speaker 1: regulatory changes will come. I've seen every change possible impact businesses.

167
00:10:11,240 --> 00:10:12,839
Speaker 1: I mean, remember when we used to sit around and

168
00:10:12,840 --> 00:10:15,559
Speaker 1: talk about the Facebook news feed like it was you know,

169
00:10:15,960 --> 00:10:16,959
Speaker 1: we don't do that anymore.

170
00:10:17,280 --> 00:10:21,160
Speaker 2: So to just put a little little meat on the bounds.

171
00:10:21,480 --> 00:10:25,840
Speaker 2: This isn't just Google and Facebook. It's anybody that's a creator,

172
00:10:25,920 --> 00:10:29,800
Speaker 2: an influencer, a producer of content. So it's going to

173
00:10:29,840 --> 00:10:34,560
Speaker 2: be YouTube and Instagram, yeah, and TikTok and LinkedIn and

174
00:10:35,120 --> 00:10:37,760
Speaker 2: I don't know what comes next, but whatever comes next,

175
00:10:38,520 --> 00:10:42,079
Speaker 2: it's their platform. Stop and think about how much time

176
00:10:42,120 --> 00:10:46,439
Speaker 2: and effort people put into things like Facebook or Twitter

177
00:10:46,559 --> 00:10:49,520
Speaker 2: or LinkedIn and you have zero control over what that

178
00:10:49,559 --> 00:10:50,439
Speaker 2: final product look.

179
00:10:50,480 --> 00:10:51,200
Speaker 1: That is correct.

180
00:10:51,800 --> 00:10:55,880
Speaker 2: It's really shocking. So you see the change at Google.

181
00:10:55,920 --> 00:10:59,600
Speaker 2: It crushes demands media. Where do you go from there?

182
00:10:59,640 --> 00:11:03,400
Speaker 2: In your were survey of the best tech companies in

183
00:11:03,920 --> 00:11:04,800
Speaker 2: Silicon Valley.

184
00:11:05,000 --> 00:11:07,400
Speaker 1: Well, at that point in time, I was like, Wow,

185
00:11:07,480 --> 00:11:10,520
Speaker 1: I've been selling Internet ads for a long time. I

186
00:11:10,520 --> 00:11:15,839
Speaker 1: would like to do something different. So I went back

187
00:11:15,840 --> 00:11:18,200
Speaker 1: to my roots and I became the president of the

188
00:11:18,240 --> 00:11:22,520
Speaker 1: San Francisco Chronicle. And why I did that was because

189
00:11:22,600 --> 00:11:25,880
Speaker 1: I felt like, if you're a Bayery native and you

190
00:11:26,000 --> 00:11:29,520
Speaker 1: use sf gate, it is not a great product. And

191
00:11:29,600 --> 00:11:33,640
Speaker 1: I really felt like San Francisco and the tech world

192
00:11:33,679 --> 00:11:35,040
Speaker 1: should have a bigger voice.

193
00:11:35,080 --> 00:11:37,640
Speaker 2: So world class city, it should have a world class media.

194
00:11:37,920 --> 00:11:40,440
Speaker 1: It should, you know. At that point in time, I

195
00:11:40,679 --> 00:11:44,760
Speaker 1: was the independent director for kar Swisher and Walt Mossberg.

196
00:11:44,840 --> 00:11:47,760
Speaker 1: I helped them leave the journal, raise their money and

197
00:11:47,880 --> 00:11:51,400
Speaker 1: ultimately I helped them sell it to Vox Media. But

198
00:11:51,480 --> 00:11:56,200
Speaker 1: I had written a strategy at San Francisco Chronicle for

199
00:11:56,320 --> 00:12:00,440
Speaker 1: Hurst to sort of reinvent that, and there was wasn't

200
00:12:00,920 --> 00:12:03,160
Speaker 1: really a ton of appetite for it, so I spent

201
00:12:03,360 --> 00:12:06,320
Speaker 1: six months there. Again, I do not mind cutting and

202
00:12:06,400 --> 00:12:10,000
Speaker 1: running if it's not working out right for me. Pinterest

203
00:12:10,080 --> 00:12:13,880
Speaker 1: had called several times. I loved Pinterest. I knew pinterest

204
00:12:14,000 --> 00:12:17,680
Speaker 1: would be big, so I went to pinterest as the

205
00:12:17,679 --> 00:12:22,160
Speaker 1: head of partnerships. I set up and sold. I hired

206
00:12:22,200 --> 00:12:27,040
Speaker 1: one hundred and twenty five ad sellers, account managers and

207
00:12:27,080 --> 00:12:30,959
Speaker 1: a team to go out and sell the first promoted pins.

208
00:12:31,760 --> 00:12:34,560
Speaker 1: My first hire there is now the chief revenue officeer

209
00:12:34,600 --> 00:12:38,560
Speaker 1: there are Bill Watkins. He's a great, great guy. And

210
00:12:39,000 --> 00:12:41,680
Speaker 1: we went out and sold the ads, and I knew

211
00:12:41,679 --> 00:12:44,480
Speaker 1: that pinterest would be big. I went in there and

212
00:12:44,520 --> 00:12:48,880
Speaker 1: the valuation was below a billion dollars and I left

213
00:12:48,960 --> 00:12:53,160
Speaker 1: after two years. And at two years the valuation was

214
00:12:53,200 --> 00:12:56,360
Speaker 1: thirteen billion dollars, And so that was a fun run.

215
00:12:56,520 --> 00:12:58,439
Speaker 2: I would say, that's a hell of a run, right

216
00:12:58,480 --> 00:13:03,160
Speaker 2: once and thirteen and then what eventually was the bridge

217
00:13:03,160 --> 00:13:06,599
Speaker 2: between pinterest and SOFI in twenty fifteen.

218
00:13:06,400 --> 00:13:09,240
Speaker 1: Well again I was, I, you know, sort of took

219
00:13:09,280 --> 00:13:12,840
Speaker 1: stock and I said, look, what the heck do I do.

220
00:13:13,000 --> 00:13:16,920
Speaker 1: Now I've sold every ad, I've sold videos, I've sold

221
00:13:17,559 --> 00:13:21,600
Speaker 1: you know, keywords, done deals with every single person in

222
00:13:21,640 --> 00:13:25,480
Speaker 1: the world in the ad tech business. And so I said,

223
00:13:25,480 --> 00:13:27,960
Speaker 1: I need to go learn something completely new, and I

224
00:13:28,000 --> 00:13:31,040
Speaker 1: want to work in an industry with new people and

225
00:13:31,160 --> 00:13:34,880
Speaker 1: new ideas. And a friend of mine that I knew

226
00:13:34,880 --> 00:13:38,800
Speaker 1: from BusinessWeek said, hey, I work at this little company

227
00:13:39,400 --> 00:13:42,760
Speaker 1: called Sofi and they do student loan REFI and I've

228
00:13:42,760 --> 00:13:45,360
Speaker 1: always been passionate about money. I think people should really,

229
00:13:46,000 --> 00:13:49,000
Speaker 1: you know, be educated about money, think about their money.

230
00:13:49,360 --> 00:13:51,560
Speaker 1: You know, student loan debt is one of the biggest

231
00:13:51,760 --> 00:13:56,600
Speaker 1: problems in America. And so I said, oh, this is interesting.

232
00:13:57,640 --> 00:14:01,440
Speaker 1: So I met the founder and I said, look, I

233
00:14:01,480 --> 00:14:03,800
Speaker 1: don't care if you fire me. I just want to

234
00:14:03,840 --> 00:14:07,440
Speaker 1: try to do this job. He was a hedge fund guy,

235
00:14:07,520 --> 00:14:10,120
Speaker 1: and he said, look, I don't know anything about marketing.

236
00:14:10,400 --> 00:14:13,320
Speaker 1: I want you to build this brand like it's a

237
00:14:13,440 --> 00:14:18,600
Speaker 1: multi billion dollar brand. I want you to take risk

238
00:14:19,360 --> 00:14:21,360
Speaker 1: and let me know what the risk is. I want

239
00:14:21,400 --> 00:14:24,920
Speaker 1: you to hit the CAC which is customer acquisition cost,

240
00:14:25,840 --> 00:14:28,160
Speaker 1: and I want you to make sure that we underwrite

241
00:14:28,440 --> 00:14:31,200
Speaker 1: loans at quality so we can sell them on the

242
00:14:31,240 --> 00:14:34,440
Speaker 1: capital markets. And I said, I don't even know what

243
00:14:34,480 --> 00:14:36,400
Speaker 1: you're talking about, but I will get it done.

244
00:14:36,520 --> 00:14:40,000
Speaker 2: So that's very much like what takes place with Freddie

245
00:14:40,000 --> 00:14:45,480
Speaker 2: Mayek and Fannie may where they're buying conforming mortgages, so

246
00:14:45,560 --> 00:14:47,880
Speaker 2: the banks now have the cash to make more loans

247
00:14:47,960 --> 00:14:51,040
Speaker 2: and then they sell it to Wall Street. This is

248
00:14:51,080 --> 00:14:55,040
Speaker 2: sort of like Sally may same basic concept, only private sector.

249
00:14:54,840 --> 00:14:58,840
Speaker 1: Private private sector, so we would, you know, and the

250
00:14:58,880 --> 00:15:03,000
Speaker 1: premise of SOFI is that students that went to good

251
00:15:03,080 --> 00:15:06,520
Speaker 1: schools and were getting law degrees and MBAs and had

252
00:15:06,640 --> 00:15:09,720
Speaker 1: high student loan dad and engineering schools were not going

253
00:15:09,760 --> 00:15:11,760
Speaker 1: to default on their loans, that they were going to

254
00:15:11,800 --> 00:15:15,840
Speaker 1: be employable for as long as they wanted employment, and

255
00:15:15,880 --> 00:15:19,640
Speaker 1: they were, they weren't going to default. And so we

256
00:15:19,840 --> 00:15:25,440
Speaker 1: really underwrote great qualities of loans and so we did that,

257
00:15:25,520 --> 00:15:28,600
Speaker 1: and then we got into the personal loan business, which

258
00:15:28,640 --> 00:15:30,840
Speaker 1: we were when I left there, we were doing about

259
00:15:30,840 --> 00:15:34,520
Speaker 1: three billion dollars a month. I was there twenty fifteen.

260
00:15:35,320 --> 00:15:38,120
Speaker 1: There were seventy five employees when I joined we were

261
00:15:38,120 --> 00:15:41,920
Speaker 1: doing about ten to twenty million dollars of loans a month.

262
00:15:42,000 --> 00:15:45,280
Speaker 1: When I left, we were doing one point five billion

263
00:15:45,320 --> 00:15:48,400
Speaker 1: of student loans and you know about one point five

264
00:15:48,600 --> 00:15:52,080
Speaker 1: of personal loans of volume a month. Wow, so a

265
00:15:52,120 --> 00:15:52,840
Speaker 1: lot of funnel.

266
00:15:52,920 --> 00:15:55,520
Speaker 2: That's a lot of funnel. Yeah, that's a lot.

267
00:15:55,720 --> 00:15:59,640
Speaker 1: And so you know, you had to learn how to

268
00:16:00,080 --> 00:16:03,880
Speaker 1: you know, make deals, drive, lead gen build a community.

269
00:16:04,880 --> 00:16:08,760
Speaker 1: And I would say that Sofi was and is beloved

270
00:16:08,920 --> 00:16:12,720
Speaker 1: amongst that segment that helped them refy their loans. A

271
00:16:12,880 --> 00:16:16,840
Speaker 1: very interesting fact that we learned while I was there

272
00:16:17,560 --> 00:16:21,040
Speaker 1: is that people if they had a lot of money

273
00:16:21,040 --> 00:16:23,800
Speaker 1: at play, they would refy their loans. But if it

274
00:16:23,840 --> 00:16:25,560
Speaker 1: was a little bit amount of money, they would say,

275
00:16:25,640 --> 00:16:27,440
Speaker 1: it's kind of a pain, I'm not going to do it.

276
00:16:27,920 --> 00:16:30,080
Speaker 1: And so the magic number was three hundred and eighty

277
00:16:30,120 --> 00:16:33,000
Speaker 1: eight dollars a month. If you could save them that,

278
00:16:33,400 --> 00:16:35,880
Speaker 1: then they thought it was worth it, which I thought

279
00:16:35,920 --> 00:16:38,480
Speaker 1: was interesting, Like, why wouldn't you save two hundred dollars

280
00:16:38,520 --> 00:16:41,840
Speaker 1: a month, you know, to REFI your behavioral psychology, I know,

281
00:16:41,920 --> 00:16:43,320
Speaker 1: I thought you'd like that.

282
00:16:43,520 --> 00:16:44,280
Speaker 2: Yeah, no, I love that.

283
00:16:44,280 --> 00:16:44,960
Speaker 1: Stueah.

284
00:16:45,000 --> 00:16:47,720
Speaker 2: Before we talk about the chief revenue experience. Let's talk

285
00:16:47,720 --> 00:16:50,840
Speaker 2: a little bit about Honey. Four billion dollars for a

286
00:16:51,080 --> 00:16:56,800
Speaker 2: relatively young startup. That's a giant win. Tell us a

287
00:16:56,840 --> 00:16:59,600
Speaker 2: little bit about your relationship with Honey. You were you

288
00:16:59,720 --> 00:17:00,640
Speaker 2: present of Honey.

289
00:17:00,880 --> 00:17:02,200
Speaker 1: I was the president of Honey.

290
00:17:02,880 --> 00:17:05,160
Speaker 2: How did you find your way to Honey? And what

291
00:17:05,240 --> 00:17:08,920
Speaker 2: made you think? I know PayPal? This is a perfect fit.

292
00:17:10,080 --> 00:17:16,800
Speaker 1: So how I ended up at Honey in Silicon Valley?

293
00:17:17,359 --> 00:17:21,280
Speaker 1: Cheryl Sanmdberg used to hold dinners women in Silicon Valley

294
00:17:21,280 --> 00:17:23,679
Speaker 1: dinners where we'd all meet each other. I met an

295
00:17:23,720 --> 00:17:26,720
Speaker 1: amazing woman there. Her name was Emily Is Emily White.

296
00:17:27,160 --> 00:17:31,119
Speaker 1: She works at Anthos Capital. She had held the CEO

297
00:17:31,359 --> 00:17:37,600
Speaker 1: job at Instagram and Snapchat and was an early investor

298
00:17:37,760 --> 00:17:40,800
Speaker 1: in Honey. And when I told her I was leaving

299
00:17:40,840 --> 00:17:44,320
Speaker 1: so far after four years, just because I was done

300
00:17:44,400 --> 00:17:49,640
Speaker 1: with my financial services chapter until now. And she said, Hey,

301
00:17:49,640 --> 00:17:51,840
Speaker 1: I've got a company for you in LA that I'm

302
00:17:51,920 --> 00:17:54,960
Speaker 1: just about to invest in with two great founders. Can

303
00:17:55,000 --> 00:17:57,840
Speaker 1: you go meet them? And I said what's it about?

304
00:17:57,960 --> 00:18:01,119
Speaker 1: She said, well, it's a coupon code company. Absolutely not

305
00:18:01,600 --> 00:18:03,919
Speaker 1: who wants to work on coupon codes? Are you kidding me?

306
00:18:04,600 --> 00:18:07,119
Speaker 1: And she said no, no, just go meet them. And

307
00:18:07,200 --> 00:18:10,879
Speaker 1: I went and met them, George and Ryan, two of

308
00:18:10,920 --> 00:18:14,080
Speaker 1: the best founders I have ever worked with in my life.

309
00:18:14,359 --> 00:18:17,240
Speaker 2: And to be fair, when you say it's a coupon company,

310
00:18:17,680 --> 00:18:22,479
Speaker 2: it really isn't. It's a web technology that operates in

311
00:18:22,520 --> 00:18:26,919
Speaker 2: the background. Okay, like a coupon, but it's really a

312
00:18:27,000 --> 00:18:30,760
Speaker 2: shopping search engine to find better prices. Am I doing

313
00:18:30,760 --> 00:18:31,959
Speaker 2: it justice? You are?

314
00:18:32,040 --> 00:18:36,600
Speaker 1: Berry? So their insight was that finding a coupon code

315
00:18:36,720 --> 00:18:39,920
Speaker 1: was a pain, yes, right, and you always want one,

316
00:18:40,080 --> 00:18:44,800
Speaker 1: And so they built a browser extension on Chrome that

317
00:18:44,840 --> 00:18:48,320
Speaker 1: you could download in two clicks, and when it detected

318
00:18:48,720 --> 00:18:52,359
Speaker 1: check out, it would say, pull, look at all the

319
00:18:52,400 --> 00:18:57,480
Speaker 1: coupon codes, query them all, and apply the right one.

320
00:18:57,600 --> 00:19:03,920
Speaker 1: And so it was a great service to consumers. And

321
00:19:04,680 --> 00:19:09,280
Speaker 1: what happened was we started launching. We launched it with

322
00:19:09,920 --> 00:19:14,880
Speaker 1: gamers playing YouTube on their desktop and a little gamer

323
00:19:15,280 --> 00:19:20,400
Speaker 1: called mister Beast. Okay, so we were his first advertiser, and

324
00:19:20,800 --> 00:19:23,040
Speaker 1: we did a deal with him. He made an ad.

325
00:19:23,160 --> 00:19:25,119
Speaker 1: You can go look it up. If you look up

326
00:19:25,280 --> 00:19:29,080
Speaker 1: mister Beast, honey ad and ad comes up. His collective ads.

327
00:19:29,119 --> 00:19:31,879
Speaker 1: I think have been seen. You know, I'm going to

328
00:19:31,920 --> 00:19:37,000
Speaker 1: say billions three plus close to four billion times. Every

329
00:19:37,160 --> 00:19:40,720
Speaker 1: kid in America knows what honey is. Every kid in

330
00:19:40,760 --> 00:19:44,399
Speaker 1: America was telling their moms and their dads they needed

331
00:19:44,400 --> 00:19:47,800
Speaker 1: to download coupon you know, honey in order to save money.

332
00:19:48,480 --> 00:19:53,119
Speaker 1: The marketing the team did it. I didn't create it,

333
00:19:53,160 --> 00:19:56,080
Speaker 1: but they did a great job of telling a story

334
00:19:56,440 --> 00:19:59,800
Speaker 1: very clearly to the consumer and getting them to take action.

335
00:20:00,359 --> 00:20:04,399
Speaker 1: They started with gamers, then they went to YouTube makeup people.

336
00:20:04,800 --> 00:20:07,600
Speaker 1: Who doesn't love a Sephora coupon? Did you just get

337
00:20:07,600 --> 00:20:11,280
Speaker 1: to the Sephora coupon code for the sale this week? Berry?

338
00:20:11,320 --> 00:20:13,160
Speaker 1: That's like, it's like crazy that one.

339
00:20:13,240 --> 00:20:15,440
Speaker 2: You missed that one, But I will tell you it's

340
00:20:15,480 --> 00:20:19,600
Speaker 2: annoying as hell as you're about to click the purchase.

341
00:20:20,640 --> 00:20:22,919
Speaker 2: Do you have a coupon code? I don't know. I

342
00:20:22,960 --> 00:20:25,119
Speaker 2: didn't think of it, But now that you're mentioning it,

343
00:20:25,200 --> 00:20:26,720
Speaker 2: should I have a coupon code?

344
00:20:26,800 --> 00:20:30,679
Speaker 1: Well? They should tell you there aren't any, you know,

345
00:20:30,800 --> 00:20:33,160
Speaker 1: they should say there are none, because then you'd feel

346
00:20:33,160 --> 00:20:36,640
Speaker 1: better by saying is there one? You feel like you're

347
00:20:36,680 --> 00:20:37,439
Speaker 1: missing something.

348
00:20:37,600 --> 00:20:40,480
Speaker 2: There have been times where do I really want to

349
00:20:40,480 --> 00:20:43,200
Speaker 2: buy this mailbox for three hundred dollars. Without the twenty

350
00:20:43,240 --> 00:20:47,960
Speaker 2: percent off coupon code, the prompt loses them a sale.

351
00:20:48,119 --> 00:20:51,560
Speaker 1: It does, and you know, Kurt, abandonment is a big deal,

352
00:20:51,600 --> 00:20:55,840
Speaker 1: and so this helped improve that. The revenue model was affiliate,

353
00:20:55,960 --> 00:20:59,040
Speaker 1: so we got a cut of the transactions that would

354
00:20:59,080 --> 00:20:59,720
Speaker 1: go through there.

355
00:21:00,720 --> 00:21:03,560
Speaker 2: Plus the data must be astonishing.

356
00:21:03,080 --> 00:21:05,720
Speaker 1: The data. They were very clear, the founders that they

357
00:21:05,960 --> 00:21:08,680
Speaker 1: were not going to sell the data and they were

358
00:21:08,720 --> 00:21:11,240
Speaker 1: going to protect the consumer at all costs.

359
00:21:10,880 --> 00:21:16,200
Speaker 2: But I mean the data. To the company that's using

360
00:21:16,280 --> 00:21:19,439
Speaker 2: the code, you could say, here's how we've changed the

361
00:21:19,640 --> 00:21:23,359
Speaker 2: car to abandonment, Here's how the upsells have gone, here's

362
00:21:23,400 --> 00:21:26,840
Speaker 2: how the average carts. Like that internal data, not I

363
00:21:26,920 --> 00:21:31,120
Speaker 2: mean like the Facebook reselling stuff that most people over

364
00:21:31,160 --> 00:21:34,600
Speaker 2: forty are concerned about, but just the how can we

365
00:21:34,680 --> 00:21:36,120
Speaker 2: make you better as a retailer.

366
00:21:37,280 --> 00:21:41,119
Speaker 1: And you saw, you know, you saw where people came from,

367
00:21:41,680 --> 00:21:45,200
Speaker 1: how they executed it, and so we built some really

368
00:21:45,200 --> 00:21:50,240
Speaker 1: great products for the merchants. The funding story of Honey

369
00:21:50,280 --> 00:21:54,280
Speaker 1: is interesting. The founders, Jorge and Ryan went to every

370
00:21:54,520 --> 00:21:59,480
Speaker 1: venture capitalist in Silicon Valley and everyone turned them down.

371
00:22:00,080 --> 00:22:02,400
Speaker 2: Because it was just open they bonds.

372
00:22:02,480 --> 00:22:05,760
Speaker 1: So they said they sort of turned their nose at coupons,

373
00:22:06,359 --> 00:22:11,879
Speaker 1: and they also turn their nose at desktop, not mobile.

374
00:22:12,040 --> 00:22:14,800
Speaker 1: Mobile was the thing at that point in time, and

375
00:22:14,840 --> 00:22:16,960
Speaker 1: they were like everything must be mobile. It would be

376
00:22:17,000 --> 00:22:20,120
Speaker 1: like today you saying we're doing something old and everybody's

377
00:22:20,160 --> 00:22:24,600
Speaker 1: like everything must be AI today, right, So everybody said no,

378
00:22:25,720 --> 00:22:30,920
Speaker 1: and so they raised money. They found Anthos. Anthos got

379
00:22:30,960 --> 00:22:34,000
Speaker 1: on it. There was a bunch of other private investors

380
00:22:34,080 --> 00:22:39,400
Speaker 1: that did and did very very well. So let's go

381
00:22:39,520 --> 00:22:44,400
Speaker 1: to the part where PayPal comes into it. So everybody's

382
00:22:44,440 --> 00:22:47,680
Speaker 1: like why everybody was surprised when the headline came out

383
00:22:47,760 --> 00:22:53,359
Speaker 1: PayPal buys Honey for four billion dollars. Shocked, And I

384
00:22:53,440 --> 00:22:56,919
Speaker 1: say to them, don't be shocked. What Honey had was

385
00:22:57,520 --> 00:23:02,359
Speaker 1: twenty plus net new active use That was PayPal's.

386
00:23:01,840 --> 00:23:04,480
Speaker 2: Metric at that twenty plus twenty million.

387
00:23:04,359 --> 00:23:07,520
Speaker 1: Net new active users. Wow, that they could add to

388
00:23:07,640 --> 00:23:13,680
Speaker 1: paypals numbers. It was a profitable business, so it didn't

389
00:23:14,160 --> 00:23:17,479
Speaker 1: have an negative impact to the P and L. And

390
00:23:17,520 --> 00:23:21,439
Speaker 1: it also brought new engineers and new thinking and a

391
00:23:21,480 --> 00:23:25,680
Speaker 1: different shopping strategy to PayPal. So you know, people always

392
00:23:25,880 --> 00:23:28,040
Speaker 1: come to me or they're like, oh, this company should

393
00:23:28,040 --> 00:23:31,200
Speaker 1: buy that company and I just go through the checklist.

394
00:23:31,480 --> 00:23:36,040
Speaker 1: Do you have a ton of users, do you have

395
00:23:36,560 --> 00:23:40,560
Speaker 1: some path to profitability or better yet profitability, and do

396
00:23:40,600 --> 00:23:44,200
Speaker 1: you have strategic thinking and or talent that would give insight?

397
00:23:44,800 --> 00:23:49,359
Speaker 1: And so PayPal was smart. It checked all the boxes

398
00:23:49,440 --> 00:23:52,639
Speaker 1: on that. So it was sort of a no brainer.

399
00:23:53,320 --> 00:23:56,960
Speaker 1: We did. You know, it was a short time after

400
00:23:57,040 --> 00:24:00,760
Speaker 1: I joined that we made the transaction, and it was

401
00:24:01,000 --> 00:24:05,119
Speaker 1: a short time before Covid. We closed the deal January

402
00:24:05,200 --> 00:24:06,639
Speaker 1: second of twenty twenty.

403
00:24:06,960 --> 00:24:10,920
Speaker 2: Right, and I'm assuming Covid didn't really hurt them.

404
00:24:10,920 --> 00:24:13,400
Speaker 1: When everybody was excellent for Honey.

405
00:24:13,200 --> 00:24:17,040
Speaker 2: Right, everybody's home shopping online, I got to think, turns out, oh,

406
00:24:17,040 --> 00:24:19,960
Speaker 2: we're not hurt by this acquisition. This is right in.

407
00:24:20,040 --> 00:24:24,960
Speaker 1: It was great happening. We were Our biggest problem was

408
00:24:25,560 --> 00:24:30,359
Speaker 1: creating ads, new fresh ads for Honey. Every employee was

409
00:24:30,400 --> 00:24:32,920
Speaker 1: shooting ads in their house. I was like, kids, we're

410
00:24:32,960 --> 00:24:37,439
Speaker 1: making Honey ads on our iPhones. And it was a

411
00:24:37,560 --> 00:24:43,320
Speaker 1: really really fun, fun time to be there and to

412
00:24:43,440 --> 00:24:47,679
Speaker 1: be part of such an exciting acquisition. So what it

413
00:24:47,760 --> 00:24:51,280
Speaker 1: really taught me, you know, out for your listeners out

414
00:24:51,280 --> 00:24:53,520
Speaker 1: there is you know, when I went in to talk

415
00:24:53,560 --> 00:24:56,000
Speaker 1: to that company, I asked for three things. I said,

416
00:24:56,040 --> 00:25:00,040
Speaker 1: can I see the last three board decks and and

417
00:25:00,200 --> 00:25:03,040
Speaker 1: I see the roadmap? And can you show me your

418
00:25:03,119 --> 00:25:07,240
Speaker 1: revenue and your profitability? And they had no problem with it. So,

419
00:25:07,520 --> 00:25:11,440
Speaker 1: as a senior level employee or potential board member of companies,

420
00:25:12,040 --> 00:25:15,080
Speaker 1: that's what I do. I go look through those because

421
00:25:15,400 --> 00:25:18,239
Speaker 1: over a course of nine months, you can see if

422
00:25:18,240 --> 00:25:21,840
Speaker 1: people addressed a problem, seized an opportunity, know how to

423
00:25:21,880 --> 00:25:24,720
Speaker 1: talk about things, know how to think about things. And

424
00:25:24,760 --> 00:25:28,800
Speaker 1: the honey guys passed all those things with flying colors

425
00:25:28,840 --> 00:25:31,720
Speaker 1: for me, and they were awesome human beings.

426
00:25:32,040 --> 00:25:38,639
Speaker 2: So you're talking the way many venture capitalists talk. But

427
00:25:38,760 --> 00:25:40,800
Speaker 2: I know you well enough to know you don't really

428
00:25:40,840 --> 00:25:43,320
Speaker 2: think of yourself as a VC. I know you're an

429
00:25:43,320 --> 00:25:46,200
Speaker 2: investor in a lot of early stage companies. But when

430
00:25:46,240 --> 00:25:48,760
Speaker 2: someone says what do you do? Your answer is in

431
00:25:49,040 --> 00:25:49,840
Speaker 2: venture capital?

432
00:25:50,440 --> 00:25:54,639
Speaker 1: Now, I'm a like I think I invest with my

433
00:25:54,760 --> 00:25:59,639
Speaker 1: human capital, right, I try to get, you know, a

434
00:25:59,680 --> 00:26:03,840
Speaker 1: sick significant stake in a company and something that I

435
00:26:03,880 --> 00:26:08,440
Speaker 1: believe in, in something that I can help accelerate. So

436
00:26:08,720 --> 00:26:10,880
Speaker 1: it is a little bit the same process and how

437
00:26:10,920 --> 00:26:14,119
Speaker 1: I spend my time and effort, and it has to

438
00:26:14,160 --> 00:26:19,120
Speaker 1: be aligned with my values, you know. So that's how

439
00:26:19,119 --> 00:26:22,040
Speaker 1: I think about it, That's how I've made my choices.

440
00:26:22,560 --> 00:26:25,720
Speaker 1: I've had a few pivots in my life on it

441
00:26:26,480 --> 00:26:29,080
Speaker 1: that have served me well. And I think, you know,

442
00:26:30,040 --> 00:26:32,800
Speaker 1: I think you can figure out almost anything if you've

443
00:26:32,840 --> 00:26:37,520
Speaker 1: had experiences in startups and doing things like you've, you've

444
00:26:37,520 --> 00:26:39,760
Speaker 1: built many things, you know how to do it. You

445
00:26:39,840 --> 00:26:43,879
Speaker 1: know right what's going to happen, and you have to

446
00:26:43,920 --> 00:26:46,800
Speaker 1: be very open to it. So I was very very

447
00:26:46,840 --> 00:26:50,719
Speaker 1: open to coupon codes. I was open to pinterest. I

448
00:26:50,840 --> 00:26:56,040
Speaker 1: was open to a financial engineered product for student loans.

449
00:26:57,240 --> 00:27:00,600
Speaker 1: You know. I like things that have not been done before.

450
00:27:01,200 --> 00:27:04,800
Speaker 1: I like things that are white space in a market,

451
00:27:06,000 --> 00:27:10,119
Speaker 1: and I think there's just a giant opportunity for talent

452
00:27:10,400 --> 00:27:12,920
Speaker 1: to find those and to think about it. Don't take

453
00:27:13,440 --> 00:27:17,240
Speaker 1: the first obvious one, because that's kind of painful.

454
00:27:17,200 --> 00:27:20,600
Speaker 2: Right, So, let's talk about some other startups that you

455
00:27:20,720 --> 00:27:27,400
Speaker 2: have advised or are advising right now. What is Super? Oh?

456
00:27:27,640 --> 00:27:31,600
Speaker 1: Super It's a they help you save money on travel

457
00:27:31,760 --> 00:27:34,160
Speaker 1: and then they have a subscription service that helps people

458
00:27:34,200 --> 00:27:37,040
Speaker 1: earn money. It's a company based out of Toronto with

459
00:27:37,160 --> 00:27:44,840
Speaker 1: a really great young founder duo that have built something

460
00:27:44,880 --> 00:27:48,879
Speaker 1: to help people get deals every day. And it's a

461
00:27:49,200 --> 00:27:55,960
Speaker 1: it's an app that is helpful in ways that Google isn't.

462
00:27:56,400 --> 00:27:59,880
Speaker 1: And they're trying to combine all those experiences and give

463
00:27:59,880 --> 00:28:04,360
Speaker 1: you ultimately a cash management tool someday. Like everybody will

464
00:28:04,400 --> 00:28:07,840
Speaker 1: eventually be a financial services company or an advertising company.

465
00:28:08,000 --> 00:28:09,520
Speaker 1: I think that's just the way it goes. Like, I

466
00:28:09,560 --> 00:28:12,480
Speaker 1: don't all roads lead to So let's talk.

467
00:28:12,280 --> 00:28:15,160
Speaker 2: About a financial company, Wealth dot com.

468
00:28:15,600 --> 00:28:20,239
Speaker 1: Wealth dot com. I'm a really great company that is

469
00:28:20,280 --> 00:28:26,400
Speaker 1: building AI technology for making trusts, wills estates easy to manage.

470
00:28:27,280 --> 00:28:31,639
Speaker 1: Lawyers spend and run up bills to collate your paper

471
00:28:31,920 --> 00:28:35,199
Speaker 1: to show you where things are. If you wanted to

472
00:28:36,119 --> 00:28:39,160
Speaker 1: leave me your watch, or I wanted to leave you

473
00:28:39,240 --> 00:28:42,479
Speaker 1: a burkin, it would cost a lot on the lawyer.

474
00:28:42,560 --> 00:28:44,960
Speaker 1: In wealth dot com, you can go in and change

475
00:28:45,040 --> 00:28:45,880
Speaker 1: it very simply.

476
00:28:45,960 --> 00:28:48,040
Speaker 2: It's different in every state. There are different rules.

477
00:28:48,280 --> 00:28:53,719
Speaker 1: They have our compliant in every state. It is a

478
00:28:53,880 --> 00:29:00,240
Speaker 1: very strong platform for advisors RAS and you know a

479
00:29:00,280 --> 00:29:03,960
Speaker 1: lot of them are using it At Domain Money. We

480
00:29:04,120 --> 00:29:08,120
Speaker 1: use it because most people don't have trusts set up properly,

481
00:29:08,800 --> 00:29:12,120
Speaker 1: and so they have done that and they're a B

482
00:29:12,200 --> 00:29:14,760
Speaker 1: to B company right now, and I think eventually they'll

483
00:29:14,800 --> 00:29:15,880
Speaker 1: be a B two C company.

484
00:29:15,920 --> 00:29:18,480
Speaker 2: So let's talk about domain Money. Yeah, brought that up.

485
00:29:18,840 --> 00:29:23,560
Speaker 2: Tell us a little bit about what you did starting

486
00:29:23,640 --> 00:29:27,120
Speaker 2: up domain money last year and some of the all

487
00:29:27,160 --> 00:29:28,240
Speaker 2: stars you're working with.

488
00:29:28,600 --> 00:29:33,760
Speaker 1: Yeah. So, I worked with a certified financial planner called

489
00:29:33,840 --> 00:29:37,360
Speaker 1: Katie Song when I was at SOFI, and she did

490
00:29:37,440 --> 00:29:42,160
Speaker 1: a plan for me personally and answered the questions, can

491
00:29:42,200 --> 00:29:44,760
Speaker 1: I retire? Can I send my kids to school? Should

492
00:29:44,800 --> 00:29:47,360
Speaker 1: I buy another home? Can I go on vacation every

493
00:29:47,400 --> 00:29:50,720
Speaker 1: year for a month, Like literally went through my budget,

494
00:29:50,760 --> 00:29:55,280
Speaker 1: my spending, my potential spending, and my investments. And I

495
00:29:55,320 --> 00:29:59,760
Speaker 1: loved it so much that I said, let's build a business.

496
00:30:00,080 --> 00:30:02,760
Speaker 1: I have a moment in time, and so we started

497
00:30:02,800 --> 00:30:06,920
Speaker 1: working on it. Then Adam Dell was working on domain Money.

498
00:30:07,000 --> 00:30:09,680
Speaker 1: He came to me and said, Hey, I'm working on this.

499
00:30:09,960 --> 00:30:13,280
Speaker 1: I said, I've got you know this product with Katie Song.

500
00:30:13,760 --> 00:30:15,680
Speaker 1: We put them together in November.

501
00:30:15,840 --> 00:30:18,280
Speaker 2: Now let me interrupt you and just point out for

502
00:30:18,400 --> 00:30:23,160
Speaker 2: the listener. Adam Dell has a brother named Michael.

503
00:30:23,600 --> 00:30:27,440
Speaker 1: I've never met Michael, who did something with computers, but yeah,

504
00:30:27,480 --> 00:30:28,640
Speaker 1: I think so something like that.

505
00:30:28,520 --> 00:30:32,240
Speaker 2: That so, and he also happened to set up a

506
00:30:32,240 --> 00:30:34,480
Speaker 2: little thing called Marcus at Goldman Sacks.

507
00:30:34,600 --> 00:30:38,720
Speaker 1: He did he sold Adam was a VC and then

508
00:30:39,640 --> 00:30:43,160
Speaker 1: open Table was one of his runaway successes. And then

509
00:30:43,240 --> 00:30:47,480
Speaker 1: he sold Clarity money to Goldman Sacks and ran Marcus

510
00:30:47,480 --> 00:30:48,240
Speaker 1: for a little.

511
00:30:47,960 --> 00:30:52,560
Speaker 2: While and very different Open Table, very different. But that's

512
00:30:52,800 --> 00:30:56,600
Speaker 2: just a pure technology to drive reservations, which I don't

513
00:30:56,600 --> 00:30:59,360
Speaker 2: know anybody that doesn't have that on their phone right Literally,

514
00:30:59,360 --> 00:31:01,080
Speaker 2: it's ubiquit it it.

515
00:31:01,080 --> 00:31:05,360
Speaker 1: Is, you know, Rezi versus open Table. We can have both,

516
00:31:05,760 --> 00:31:08,240
Speaker 1: of course, of course you do. It's like it's like

517
00:31:08,280 --> 00:31:10,280
Speaker 1: an Amex and a Chase card. You have them both.

518
00:31:11,320 --> 00:31:17,280
Speaker 1: So Adam, really we have a big vision that there's

519
00:31:17,320 --> 00:31:21,360
Speaker 1: a very big opportunity out there for people that are

520
00:31:21,440 --> 00:31:25,720
Speaker 1: not in need of an au M advisor and that

521
00:31:26,080 --> 00:31:29,480
Speaker 1: don't want to do it themselves. There's a giant gap

522
00:31:29,520 --> 00:31:32,600
Speaker 1: in that market sort of you know, the home depot

523
00:31:32,680 --> 00:31:36,760
Speaker 1: lows of financial services right where you you and you

524
00:31:36,800 --> 00:31:40,400
Speaker 1: want a little more help, the equinox of it, the

525
00:31:40,880 --> 00:31:43,600
Speaker 1: pre novo of it, where you you need help but

526
00:31:43,720 --> 00:31:48,080
Speaker 1: not forever and not at the expense. And I manage

527
00:31:48,080 --> 00:31:50,360
Speaker 1: my money both ways. I have au M and I

528
00:31:50,440 --> 00:31:53,640
Speaker 1: do some you know, flat fee on my own. And

529
00:31:53,720 --> 00:31:56,920
Speaker 1: so we built this product called the one Page Plan

530
00:31:57,160 --> 00:32:00,080
Speaker 1: that will literally analyze what you spend down to your

531
00:32:00,120 --> 00:32:02,920
Speaker 1: door dash, down to your credit card, down to your

532
00:32:02,960 --> 00:32:06,200
Speaker 1: Amazon and then look at your investments and tell you

533
00:32:06,360 --> 00:32:09,400
Speaker 1: need to save sixty three thousand dollars a year for

534
00:32:09,440 --> 00:32:11,680
Speaker 1: the next ten years to get even close to where

535
00:32:11,680 --> 00:32:14,320
Speaker 1: you're going to be. And here's the five action items

536
00:32:14,320 --> 00:32:17,080
Speaker 1: you need to take. And so we offer that plan

537
00:32:17,200 --> 00:32:19,880
Speaker 1: for twenty five hundred dollars. If it's more complex, we

538
00:32:19,960 --> 00:32:23,200
Speaker 1: offer a strategic plan or a full comprehensive plan where

539
00:32:23,240 --> 00:32:26,760
Speaker 1: will help rebalance and do your portfolio for seventy five

540
00:32:26,840 --> 00:32:30,239
Speaker 1: hundred dollars. We have, you know, people coming to us

541
00:32:30,240 --> 00:32:33,680
Speaker 1: every day just on word of mouth. People are confused

542
00:32:33,720 --> 00:32:37,880
Speaker 1: and overwhelmed. They well, they love a you know TikTok,

543
00:32:38,520 --> 00:32:41,880
Speaker 1: you know budget tool. They can't do it themselves. They

544
00:32:41,920 --> 00:32:44,880
Speaker 1: need more help. And so that's the place in the

545
00:32:44,920 --> 00:32:48,200
Speaker 1: market that we're serving. You know, I'd say, if if

546
00:32:48,240 --> 00:32:50,760
Speaker 1: I had to describe the consumer, they're sort of thirty

547
00:32:50,800 --> 00:32:52,640
Speaker 1: eight years old and they wake up and they go,

548
00:32:52,840 --> 00:32:56,880
Speaker 1: wait a minute, crap, I didn't I didn't do all

549
00:32:56,920 --> 00:32:57,440
Speaker 1: these things.

550
00:32:57,560 --> 00:32:59,880
Speaker 2: Tax Day was Mid's Day was fun?

551
00:33:00,480 --> 00:33:02,840
Speaker 1: What did I forget? Why didn't I set my roth

552
00:33:02,920 --> 00:33:05,920
Speaker 1: Ira up? Why didn't I start my college fund? You know?

553
00:33:05,960 --> 00:33:09,440
Speaker 1: You put it off every day, and you shouldn't. Nobody

554
00:33:09,480 --> 00:33:13,479
Speaker 1: here that listens to this show should not have a

555
00:33:13,520 --> 00:33:16,120
Speaker 1: financial plan, even if they did it themselves, if they

556
00:33:16,200 --> 00:33:19,120
Speaker 1: had someone do it for them. You have to have

557
00:33:19,160 --> 00:33:22,080
Speaker 1: one otherwise you shouldn't be listening to the show.

558
00:33:22,200 --> 00:33:25,600
Speaker 2: You have some amazing partners with this. I feel like

559
00:33:25,720 --> 00:33:28,920
Speaker 2: I want to throw a ringer in because people are

560
00:33:29,200 --> 00:33:33,640
Speaker 2: so Some of the early engineers from Amazon Web Services

561
00:33:34,160 --> 00:33:38,320
Speaker 2: are part of this. Mark Bennioff, who's certainly super well

562
00:33:38,360 --> 00:33:43,160
Speaker 2: regarded out in Silicon Valley, Palenteer and all that. Some

563
00:33:43,280 --> 00:33:46,600
Speaker 2: kid named Ashton Kutcher is involved. Like I'm trying to

564
00:33:46,640 --> 00:33:49,400
Speaker 2: make up a name and I can't. Yeah, that's an

565
00:33:49,400 --> 00:33:53,720
Speaker 2: incredible set of partners for what's essentially not even a

566
00:33:53,800 --> 00:33:54,600
Speaker 2: year old startup.

567
00:33:55,040 --> 00:33:58,120
Speaker 1: Yeah, I mean I think you know, Adam's track record

568
00:33:59,160 --> 00:34:04,440
Speaker 1: and relationship were able to attract quality investors and quality talent,

569
00:34:04,960 --> 00:34:08,600
Speaker 1: and now we're just trying to deliver an unbelievable experience

570
00:34:08,640 --> 00:34:10,480
Speaker 1: for people if you don't like it, we'll give you

571
00:34:10,480 --> 00:34:12,279
Speaker 1: your money back. But we have people that are just

572
00:34:12,480 --> 00:34:15,719
Speaker 1: delighted every day with it, and that's the goal, you know,

573
00:34:16,880 --> 00:34:20,600
Speaker 1: we want people to have more financial control in their lives.

574
00:34:20,360 --> 00:34:23,480
Speaker 1: It's too important, you know, it's for me. It's a

575
00:34:23,600 --> 00:34:25,960
Speaker 1: value system and a belief system and what you do

576
00:34:26,040 --> 00:34:27,680
Speaker 1: with your money and how you think about it and

577
00:34:27,680 --> 00:34:30,320
Speaker 1: how you live. And so that's why I got involved

578
00:34:30,440 --> 00:34:35,520
Speaker 1: with with Domain money, and it's it's been very rewarding.

579
00:34:36,080 --> 00:34:38,360
Speaker 2: It sounds like it. So I want to talk a

580
00:34:38,400 --> 00:34:42,520
Speaker 2: little bit about when you were in Silicon Valley and

581
00:34:43,719 --> 00:34:47,880
Speaker 2: working as a woman in what was very much a

582
00:34:48,000 --> 00:34:53,080
Speaker 2: male dominated technology field, and I guess the thought was,

583
00:34:53,640 --> 00:34:56,319
Speaker 2: I know, let me find another male dominating field. Let

584
00:34:56,360 --> 00:34:58,000
Speaker 2: me let me go to finance and see what I

585
00:34:58,000 --> 00:35:01,719
Speaker 2: could shake up there. But I use that phrase on

586
00:35:01,840 --> 00:35:07,080
Speaker 2: purpose because I know you've been very influential in different

587
00:35:07,400 --> 00:35:10,960
Speaker 2: fields from the inside. Tell us a little bit about

588
00:35:11,440 --> 00:35:15,640
Speaker 2: the evolution that we've seen in technology and now finance.

589
00:35:16,360 --> 00:35:21,400
Speaker 1: Yeah, let's just in my early career, many rooms I

590
00:35:21,440 --> 00:35:24,680
Speaker 1: went into and still today I'm the only women in

591
00:35:24,719 --> 00:35:29,200
Speaker 1: those rooms, and so I take my responsibility pretty seriously

592
00:35:29,320 --> 00:35:31,920
Speaker 1: that I have to bring the voice of other women

593
00:35:32,120 --> 00:35:35,680
Speaker 1: into the room. I work with an organization called the

594
00:35:35,680 --> 00:35:39,760
Speaker 1: Female Quotient. How it started and everybody should go followed

595
00:35:39,800 --> 00:35:42,600
Speaker 1: on social They have viral videos. They had one go

596
00:35:42,800 --> 00:35:46,480
Speaker 1: viral with one hundred million views the other day. They

597
00:35:46,640 --> 00:35:52,560
Speaker 1: started doing events at Cees and south By Southwest and

598
00:35:52,840 --> 00:35:56,319
Speaker 1: trade shows all around the world where they created a

599
00:35:56,360 --> 00:35:59,759
Speaker 1: place for women to go and convene and all of

600
00:35:59,800 --> 00:36:02,800
Speaker 1: the power women went there. They called it the Girls Lounge.

601
00:36:02,800 --> 00:36:05,040
Speaker 1: You could go in and get a hair, blow dry

602
00:36:05,160 --> 00:36:07,520
Speaker 1: and a makeup and have a glass of champagne. It

603
00:36:07,560 --> 00:36:10,480
Speaker 1: has since turned into the Equality Lounge, and they do

604
00:36:10,640 --> 00:36:13,680
Speaker 1: programming in every one of those lounges and they let

605
00:36:13,719 --> 00:36:17,560
Speaker 1: everybody in. Everybody is welcome. You don't have to have

606
00:36:17,560 --> 00:36:19,920
Speaker 1: a badge to the show. They're like, look, if you're

607
00:36:19,920 --> 00:36:24,040
Speaker 1: in town, come by. If your support staff and you

608
00:36:24,120 --> 00:36:27,520
Speaker 1: can't get into the party, we don't believe in that,

609
00:36:27,640 --> 00:36:31,120
Speaker 1: So everybody comes. It's one of the most powerful places

610
00:36:31,640 --> 00:36:36,680
Speaker 1: at Cees, at Davos, at south By Southwest. What it

611
00:36:36,719 --> 00:36:41,000
Speaker 1: has reinforced for me is that women need to convene,

612
00:36:41,280 --> 00:36:43,880
Speaker 1: they need to support each other, they need to see

613
00:36:43,920 --> 00:36:49,120
Speaker 1: each other being successful. And how that's normalized. So for

614
00:36:49,320 --> 00:36:52,000
Speaker 1: men and Barry, you and I have had this conversation.

615
00:36:53,440 --> 00:36:56,120
Speaker 1: I think it's important to Number one, if I ran

616
00:36:56,160 --> 00:36:59,279
Speaker 1: a company and I was a man, I would give

617
00:36:59,320 --> 00:37:04,840
Speaker 1: them allowance or budget to go convene as women with

618
00:37:05,000 --> 00:37:09,400
Speaker 1: other women in their industry. Tomorrow, I'm going to the

619
00:37:09,440 --> 00:37:14,200
Speaker 1: CNBC Change Makers, which is their women initiative that is

620
00:37:14,280 --> 00:37:17,480
Speaker 1: launching this year. Would be a great afternoon gathering and

621
00:37:17,760 --> 00:37:21,440
Speaker 1: talks by other women that have made significant changes for

622
00:37:21,480 --> 00:37:26,200
Speaker 1: the year. And there's just a great opportunity to network

623
00:37:26,280 --> 00:37:30,759
Speaker 1: and connect at those things. If the leader from your

624
00:37:30,840 --> 00:37:34,480
Speaker 1: organization goes out and shows up in the community, it's

625
00:37:34,520 --> 00:37:37,879
Speaker 1: going to attract other people from the community, Right, It's

626
00:37:38,000 --> 00:37:43,480
Speaker 1: pretty basic. And so that's number one. Number two is

627
00:37:43,520 --> 00:37:48,960
Speaker 1: that you really have to give people responsibility. I asked

628
00:37:49,120 --> 00:37:51,880
Speaker 1: for responsibility at every turn in my life.

629
00:37:52,040 --> 00:37:54,439
Speaker 2: I was about to bring that up because you've told

630
00:37:54,480 --> 00:37:57,640
Speaker 2: stories about Microsoft. You told stories that I've heard at

631
00:37:57,719 --> 00:38:02,640
Speaker 2: Yahoo where you went to your management and said, listen,

632
00:38:03,239 --> 00:38:05,120
Speaker 2: I have more band with and here's what I want

633
00:38:05,160 --> 00:38:08,920
Speaker 2: to do. Yeah, what are those conversations like? How do

634
00:38:08,960 --> 00:38:12,600
Speaker 2: they go? And is everybody always receptive?

635
00:38:12,920 --> 00:38:17,720
Speaker 1: They're not always receptive. But look today, putting an idea

636
00:38:17,840 --> 00:38:19,960
Speaker 1: down on a piece of paper and sending it to

637
00:38:20,000 --> 00:38:24,279
Speaker 1: someone is free. And what it shows people is how

638
00:38:24,360 --> 00:38:27,080
Speaker 1: serious you are about that idea and that you've put

639
00:38:27,120 --> 00:38:30,680
Speaker 1: some thought into it. And those have been pivotal turning

640
00:38:30,719 --> 00:38:35,680
Speaker 1: moments for me in my career where I sat took

641
00:38:35,800 --> 00:38:38,000
Speaker 1: pen to paper, and you can do it with AI now,

642
00:38:38,040 --> 00:38:40,959
Speaker 1: So it's not even that hard, right. I take notes

643
00:38:41,000 --> 00:38:44,040
Speaker 1: on everything I do. I spit it into I like

644
00:38:44,120 --> 00:38:47,000
Speaker 1: Bard's tone of voice better than chat GPT, but that's

645
00:38:47,040 --> 00:38:49,600
Speaker 1: just me, And I'm like, Okay, write me a proposal

646
00:38:49,640 --> 00:38:52,960
Speaker 1: based on these five things I just saw, and what

647
00:38:53,000 --> 00:38:54,840
Speaker 1: would it be? And then I'm like, mah, should I

648
00:38:54,880 --> 00:38:57,799
Speaker 1: do this? Should I not do this? But I did

649
00:38:57,800 --> 00:39:01,120
Speaker 1: the same thing in my early day at BusinessWeek. I

650
00:39:01,160 --> 00:39:06,040
Speaker 1: was like, Hey, we need to go buy a uurl. Okay,

651
00:39:06,600 --> 00:39:09,400
Speaker 1: we and you know, like, convinced business Week that we

652
00:39:09,440 --> 00:39:13,120
Speaker 1: should put advertiser links on a page in the magazine.

653
00:39:13,160 --> 00:39:16,359
Speaker 1: I'm like, I will get money for that page of advertising.

654
00:39:16,680 --> 00:39:20,120
Speaker 1: So we sold people's URL listings on a page in

655
00:39:20,160 --> 00:39:22,799
Speaker 1: Business Week. We sold a crossword in Business Week. I

656
00:39:22,840 --> 00:39:24,600
Speaker 1: was like, let's put a crossword in there. I think

657
00:39:24,600 --> 00:39:27,160
Speaker 1: it's a good idea, you know, like you just have

658
00:39:27,280 --> 00:39:31,680
Speaker 1: to keep putting ideas forward and then people will see that.

659
00:39:31,760 --> 00:39:33,920
Speaker 1: And so as a woman, I said, that's how I'm

660
00:39:33,920 --> 00:39:36,040
Speaker 1: going to break through. That's that's what I'm going to do.

661
00:39:36,320 --> 00:39:40,359
Speaker 2: What happened in a place like Microsoft that was very

662
00:39:40,440 --> 00:39:43,839
Speaker 2: much an old boys club. It's Bill and Steve and

663
00:39:43,880 --> 00:39:46,319
Speaker 2: the rest of the crew. When you say, hey, I

664
00:39:46,320 --> 00:39:48,600
Speaker 2: want to convene a group of women to talk about

665
00:39:49,000 --> 00:39:52,399
Speaker 2: how we could do better at Microsoft? Do they take

666
00:39:52,440 --> 00:39:55,640
Speaker 2: it seriously? Is there a little snickering? Like what they said?

667
00:39:55,840 --> 00:39:59,080
Speaker 1: They said great? They said great, I you know.

668
00:40:00,520 --> 00:40:04,640
Speaker 2: His post dj any trust case, So there was a

669
00:40:04,680 --> 00:40:08,520
Speaker 2: little sensitivity as to how they looked in emails and elsewhere.

670
00:40:08,560 --> 00:40:10,000
Speaker 2: I would imagine, yes.

671
00:40:10,560 --> 00:40:14,240
Speaker 1: You know I worked. I worked more closely with Steve

672
00:40:14,280 --> 00:40:18,759
Speaker 1: there and still keep in touch with him. And you

673
00:40:18,760 --> 00:40:23,400
Speaker 1: know he he has a woman, Gillien Zucker, that runs

674
00:40:24,160 --> 00:40:28,439
Speaker 1: his operation there. That is amazing. Also. I think the Clippers, Yeah,

675
00:40:28,440 --> 00:40:31,239
Speaker 1: at the Clippers and the forum now and into its

676
00:40:31,280 --> 00:40:34,880
Speaker 1: center and has just unbelievable responsibility.

677
00:40:35,760 --> 00:40:38,040
Speaker 2: And is that a sea change from twenty years ago?

678
00:40:39,080 --> 00:40:45,320
Speaker 1: Look, he always gave everybody opportunity. I didn't. I didn't

679
00:40:45,560 --> 00:40:49,120
Speaker 1: feel there was any gender bias in his approach. Like

680
00:40:49,200 --> 00:40:52,080
Speaker 1: he was just like, you know, get it done, get

681
00:40:52,080 --> 00:40:56,000
Speaker 1: it done. Know your numbers, get it done. And you know,

682
00:40:56,160 --> 00:41:01,080
Speaker 1: I've always sort of worked for and signed up for

683
00:41:01,360 --> 00:41:05,120
Speaker 1: tours of duties with people that I felt were just like, yeah,

684
00:41:05,320 --> 00:41:09,440
Speaker 1: get it done. And so I think it's just important

685
00:41:09,480 --> 00:41:12,200
Speaker 1: that you give people the opportunity and I don't care

686
00:41:12,520 --> 00:41:15,479
Speaker 1: if it's you know, male or female, but to put

687
00:41:15,520 --> 00:41:18,719
Speaker 1: ideas forth on how they want things changed, because they

688
00:41:18,800 --> 00:41:21,279
Speaker 1: see them, they know them better than you do. And

689
00:41:21,360 --> 00:41:23,920
Speaker 1: like I saw the video opportunity. So I did a

690
00:41:23,960 --> 00:41:27,080
Speaker 1: thing called Live Earth where we seven seven oh seven,

691
00:41:27,120 --> 00:41:30,200
Speaker 1: where we beamed music around for twenty four hours.

692
00:41:30,200 --> 00:41:31,640
Speaker 2: Oh sure, I remember, Yeah, that.

693
00:41:31,680 --> 00:41:34,400
Speaker 1: Was you know, I went to Microsoft. I did that.

694
00:41:34,480 --> 00:41:36,799
Speaker 1: I did that. I did that with Kevin Wall and

695
00:41:38,040 --> 00:41:41,000
Speaker 1: Bobby Shreiver helped me, and you know, we had every

696
00:41:41,120 --> 00:41:44,360
Speaker 1: artist in the world doing that, and it was to

697
00:41:44,600 --> 00:41:49,560
Speaker 1: promote Microsoft's video player. And it was the largest streamed

698
00:41:49,560 --> 00:41:52,760
Speaker 1: event globally until that guy jumped out of the plane

699
00:41:52,760 --> 00:41:57,000
Speaker 1: on YouTube, which was a long time and I you know,

700
00:41:57,120 --> 00:42:01,360
Speaker 1: took the risk. It was Microsoft was not a sustainability

701
00:42:01,400 --> 00:42:04,600
Speaker 1: focused company at that point in time, and they were like, huh, Joeanne,

702
00:42:04,640 --> 00:42:06,239
Speaker 1: this isn't so great. I'm like, I'm going to pay

703
00:42:06,320 --> 00:42:08,719
Speaker 1: for it with advertising, and I got General Motors to

704
00:42:08,760 --> 00:42:11,640
Speaker 1: sponsor it and it was a huge It was a

705
00:42:11,719 --> 00:42:15,719
Speaker 1: huge success. But we wrote that up and took it

706
00:42:15,760 --> 00:42:17,759
Speaker 1: in and presented the P and L for it and

707
00:42:17,800 --> 00:42:21,439
Speaker 1: got it done. So it's anything's possible when you put

708
00:42:21,480 --> 00:42:22,080
Speaker 1: it to paper.

709
00:42:22,280 --> 00:42:26,520
Speaker 2: So you're at maybe not a giant company like Microsoft,

710
00:42:26,600 --> 00:42:30,200
Speaker 2: but a smaller firm that maybe isn't paying as much

711
00:42:30,239 --> 00:42:35,120
Speaker 2: attention to gender issues because they're you know, they're swimen

712
00:42:35,160 --> 00:42:38,360
Speaker 2: as fast as they can against the tide. And you

713
00:42:38,480 --> 00:42:41,680
Speaker 2: bring up an idea, Hey, I want to convene the

714
00:42:41,719 --> 00:42:45,120
Speaker 2: women on your investment committee or the women who work

715
00:42:45,239 --> 00:42:49,600
Speaker 2: in your sales group. What's the response like from companies

716
00:42:49,640 --> 00:42:52,520
Speaker 2: and what are the net results when you get a

717
00:42:52,520 --> 00:42:53,440
Speaker 2: group together like that.

718
00:42:53,920 --> 00:42:59,319
Speaker 1: Yeah, I'll talk about the Pinterest experience. When I worked

719
00:42:59,360 --> 00:43:04,360
Speaker 1: at pinterest, you know, I was much older than the

720
00:43:04,360 --> 00:43:08,480
Speaker 1: average employee. A lot of employees were starting to have kids,

721
00:43:08,520 --> 00:43:12,600
Speaker 1: and the moms were really sort of you know, overwhelmed, right,

722
00:43:12,680 --> 00:43:15,879
Speaker 1: because it was a startup environment. We were going going hard,

723
00:43:15,920 --> 00:43:16,759
Speaker 1: hard hearted, and am.

724
00:43:16,719 --> 00:43:21,359
Speaker 2: I remember correctly? Was Pinterest very much of female user base? Yes?

725
00:43:21,440 --> 00:43:23,920
Speaker 2: It was right like eighty percent of crazy number.

726
00:43:24,040 --> 00:43:28,080
Speaker 1: Yes, And we were thirty percent women when I was there,

727
00:43:28,480 --> 00:43:32,960
Speaker 1: so which was interesting. And the moms wanted to convene,

728
00:43:33,040 --> 00:43:35,080
Speaker 1: and so I said, just give me an hour of

729
00:43:35,200 --> 00:43:38,759
Speaker 1: meeting space. We just want them to get together and

730
00:43:39,080 --> 00:43:43,359
Speaker 1: share information and knowledge. Things as basic as you know,

731
00:43:44,480 --> 00:43:47,640
Speaker 1: how are you dealing with preparing meals for your kids?

732
00:43:47,760 --> 00:43:54,720
Speaker 1: To my recruiters nanny, she had to fire her suddenly

733
00:43:54,760 --> 00:43:56,600
Speaker 1: one day, and what do you do in that situation?

734
00:43:56,719 --> 00:43:59,240
Speaker 1: And how do you communicate that to your to your boss,

735
00:43:59,320 --> 00:44:02,839
Speaker 1: your manager in those kinds of environments. And I will

736
00:44:02,880 --> 00:44:07,200
Speaker 1: say today that Pinterest has carried that on and I

737
00:44:07,280 --> 00:44:09,799
Speaker 1: still talk to many of those women. I did a

738
00:44:10,200 --> 00:44:12,719
Speaker 1: sort of a group talk for Pinterest the other day

739
00:44:13,239 --> 00:44:15,840
Speaker 1: where there's many of those mothers that say that was

740
00:44:15,880 --> 00:44:19,040
Speaker 1: the difference between this being bearable and unbearable for me.

741
00:44:19,160 --> 00:44:22,720
Speaker 1: This was the difference between me feeling like I'm failing

742
00:44:22,760 --> 00:44:24,640
Speaker 1: at my job or doing well at my job. That

743
00:44:24,680 --> 00:44:28,640
Speaker 1: I have some common ground, and so let people find

744
00:44:28,719 --> 00:44:32,640
Speaker 1: common ground. You don't have to control everything. And I

745
00:44:32,800 --> 00:44:37,840
Speaker 1: just think women, mothers, caregivers really really need to convene

746
00:44:37,880 --> 00:44:40,920
Speaker 1: and give them permission, give them space to do it,

747
00:44:40,960 --> 00:44:45,920
Speaker 1: because it will make them more committed, better employees, and

748
00:44:46,040 --> 00:44:49,319
Speaker 1: more productive on every level. Those things are not hard,

749
00:44:49,360 --> 00:44:50,360
Speaker 1: they're not expensive.

750
00:44:51,480 --> 00:44:54,200
Speaker 2: So I have to point one thing out that I'm

751
00:44:54,239 --> 00:44:58,080
Speaker 2: fascinated by you. And I don't know if this is

752
00:44:58,160 --> 00:45:02,600
Speaker 2: coincidental or just a component of your personality, but it

753
00:45:02,719 --> 00:45:09,439
Speaker 2: seems that each of your major career events all seem

754
00:45:09,520 --> 00:45:14,439
Speaker 2: to take place in these wild dislocations. So you start

755
00:45:14,440 --> 00:45:18,000
Speaker 2: at Microsoft in the midst of the dot com implosion terrible, right,

756
00:45:18,120 --> 00:45:21,520
Speaker 2: nasdak down eighty one percent peak to troth. Yeah, the

757
00:45:21,520 --> 00:45:23,920
Speaker 2: next gig starts pretty much in the middle of the

758
00:45:23,920 --> 00:45:29,359
Speaker 2: financial crist and then the honey transaction literally day one

759
00:45:29,440 --> 00:45:33,600
Speaker 2: of the pandemic. Y is it that you just see

760
00:45:33,719 --> 00:45:38,760
Speaker 2: opportunities when there's sort of mayhem and everybody's running around

761
00:45:38,760 --> 00:45:41,920
Speaker 2: with their with their heads cut off? Or is this

762
00:45:42,160 --> 00:45:43,799
Speaker 2: just some crazy dumb luck.

763
00:45:45,320 --> 00:45:48,960
Speaker 1: I mean, I've asked myself that question. You know, all

764
00:45:49,040 --> 00:45:52,480
Speaker 1: of my friends would tell me never to do the

765
00:45:52,600 --> 00:45:55,160
Speaker 1: jobs that I took, right, Okay.

766
00:45:55,480 --> 00:45:57,440
Speaker 2: My, well that's some terrible advice.

767
00:45:57,760 --> 00:46:04,799
Speaker 1: Yeah, I don't take it. And my youngest daughter told

768
00:46:04,840 --> 00:46:07,400
Speaker 1: me this, and it's a good friend of mine just

769
00:46:07,400 --> 00:46:10,000
Speaker 1: wrote a book that's titled it Nobody cares what you

770
00:46:10,080 --> 00:46:11,440
Speaker 1: do or where you work.

771
00:46:11,520 --> 00:46:12,759
Speaker 2: From next month.

772
00:46:12,880 --> 00:46:17,279
Speaker 1: Yeah, Erica worked for me and with me for ten years.

773
00:46:17,280 --> 00:46:20,799
Speaker 2: Oh, I had no idea. That's completely coincidental. Yes, I

774
00:46:20,880 --> 00:46:22,760
Speaker 2: love I love the title of that book.

775
00:46:22,840 --> 00:46:27,440
Speaker 1: Yeah, And so you know, when I would lament about it,

776
00:46:27,560 --> 00:46:30,600
Speaker 1: my daughter would just go, Mom, nobody nobody cares. Like,

777
00:46:31,280 --> 00:46:35,680
Speaker 1: nobody cares what you do, what you put on LinkedIn,

778
00:46:35,960 --> 00:46:39,120
Speaker 1: what you say, where you go. So you need to

779
00:46:39,280 --> 00:46:41,319
Speaker 1: just really get over it.

780
00:46:41,440 --> 00:46:43,440
Speaker 2: Kids keep you honestly, It keeps.

781
00:46:43,160 --> 00:46:48,960
Speaker 1: You really, really honest. And so you know, I don't

782
00:46:49,200 --> 00:46:53,080
Speaker 1: think you know. When I started working, it was go

783
00:46:53,160 --> 00:46:56,200
Speaker 1: to work, work responsibly, work up the ladder as far

784
00:46:56,200 --> 00:46:58,160
Speaker 1: as you can go in a company. I got up

785
00:46:58,200 --> 00:47:01,080
Speaker 1: the ladder pretty quickly in a lot of company, to

786
00:47:01,280 --> 00:47:04,360
Speaker 1: very senior positions. And then I was like, wait a minute,

787
00:47:05,280 --> 00:47:07,040
Speaker 1: do I want to do this for the rest of

788
00:47:07,080 --> 00:47:09,680
Speaker 1: my life? And the answer was no. The answer was

789
00:47:09,800 --> 00:47:13,239
Speaker 1: I like the excitement of building. I like the excitement

790
00:47:13,280 --> 00:47:17,759
Speaker 1: of new territories and new industries, and so that is

791
00:47:17,840 --> 00:47:22,279
Speaker 1: really sort of my larger calling on this stuff. Then, like,

792
00:47:22,440 --> 00:47:25,279
Speaker 1: am I a crazy risk taker, you know, jumping out

793
00:47:25,280 --> 00:47:28,480
Speaker 1: of you know, corporate jobs for you know, playing the

794
00:47:28,520 --> 00:47:29,400
Speaker 1: equivalent of that.

795
00:47:29,560 --> 00:47:32,239
Speaker 2: No, Well, they seem to have worked out. So it's

796
00:47:32,280 --> 00:47:36,640
Speaker 2: not like it's not like you're risk embracing with no upside.

797
00:47:37,200 --> 00:47:40,720
Speaker 2: You seem to be appropriately risk embracing, or at least

798
00:47:41,560 --> 00:47:44,960
Speaker 2: looking at with the advantage of hindsight bias, looking at

799
00:47:45,000 --> 00:47:48,279
Speaker 2: the track record, it seems that you took the right

800
00:47:48,320 --> 00:47:51,120
Speaker 2: amount of risk at the right time in the right places,

801
00:47:51,800 --> 00:47:55,720
Speaker 2: or you've just been on an incredibly lucky run of dice.

802
00:47:55,960 --> 00:47:58,799
Speaker 2: And I don't believe it's the ladder. I think it's

803
00:47:58,840 --> 00:47:59,320
Speaker 2: the former.

804
00:47:59,680 --> 00:48:02,719
Speaker 1: Well, well, you know, I do think experience gives you

805
00:48:02,800 --> 00:48:07,520
Speaker 1: something and I can cut the line in many things

806
00:48:08,560 --> 00:48:11,360
Speaker 1: in figuring out how to get to the person to

807
00:48:11,480 --> 00:48:16,920
Speaker 1: the right group. I'm advising two young women that dropped

808
00:48:16,920 --> 00:48:20,279
Speaker 1: out of Stanford that you'll hear about soon and help

809
00:48:20,320 --> 00:48:24,560
Speaker 1: them raise money for a very interesting product. And we

810
00:48:24,560 --> 00:48:27,440
Speaker 1: were able to sort of short circuit the system and

811
00:48:27,600 --> 00:48:30,160
Speaker 1: get them in front of the right people very quickly.

812
00:48:30,360 --> 00:48:34,560
Speaker 1: And you know, I can bring that skill to a

813
00:48:34,560 --> 00:48:39,040
Speaker 1: lot of different scenarios and so that's what I try

814
00:48:39,080 --> 00:48:41,880
Speaker 1: to do right and the sort of three key areas

815
00:48:41,880 --> 00:48:45,000
Speaker 1: I focus on my life or number one is really

816
00:48:45,120 --> 00:48:48,200
Speaker 1: financial wellbeing. I just I want everybody to just make

817
00:48:48,320 --> 00:48:51,319
Speaker 1: your life better on every front. You know. Number two

818
00:48:51,520 --> 00:48:54,880
Speaker 1: is really female leadership and you know, getting them to

819
00:48:54,960 --> 00:48:58,200
Speaker 1: be all of us to be confident enough to take

820
00:48:58,360 --> 00:49:02,120
Speaker 1: risks and to like stand up and speak and not

821
00:49:02,360 --> 00:49:05,880
Speaker 1: be afraid of consequences in those situations. And then the

822
00:49:05,920 --> 00:49:08,080
Speaker 1: third category that we've talked a little bit about is

823
00:49:08,120 --> 00:49:13,279
Speaker 1: I really love resale luxury and I think it's you know,

824
00:49:13,440 --> 00:49:14,880
Speaker 1: a very big growth market.

825
00:49:15,719 --> 00:49:16,880
Speaker 2: Well you're in the right city for it.

826
00:49:17,040 --> 00:49:19,279
Speaker 1: If I was ever going to be I wrote a

827
00:49:19,320 --> 00:49:21,920
Speaker 1: plan a couple of years back to do an activist

828
00:49:22,040 --> 00:49:24,760
Speaker 1: takeover of the real Reel. I got some investors together.

829
00:49:25,120 --> 00:49:27,120
Speaker 1: I just hate the way that companies run. So if

830
00:49:27,120 --> 00:49:30,200
Speaker 1: there's anybody out there listening, I really I wrote a plan.

831
00:49:30,920 --> 00:49:34,040
Speaker 1: But they have a three hundred million dollar convertible debt

832
00:49:34,040 --> 00:49:36,520
Speaker 1: note that triggers in a change of control. So I

833
00:49:36,520 --> 00:49:38,720
Speaker 1: abandoned their private right. You know, they're public.

834
00:49:38,760 --> 00:49:40,680
Speaker 2: They were public there.

835
00:49:40,320 --> 00:49:42,200
Speaker 1: They went public. I was an investor. They went out

836
00:49:42,239 --> 00:49:43,920
Speaker 1: at like two billion. I think it's worth, you know,

837
00:49:43,920 --> 00:49:46,120
Speaker 1: one hundred and fifty million today. I can't even look

838
00:49:46,120 --> 00:49:47,120
Speaker 1: at it because it's so painful.

839
00:49:47,239 --> 00:49:51,720
Speaker 2: Down eighty five percent usually engend. There's a change in control.

840
00:49:51,440 --> 00:49:54,480
Speaker 1: I understand. But so in the meantime, that market is

841
00:49:54,520 --> 00:49:56,640
Speaker 1: going to grow like crazy. So I'm working on a

842
00:49:56,640 --> 00:50:02,319
Speaker 1: few projects in that category. But you know, I and

843
00:50:02,360 --> 00:50:05,799
Speaker 1: it's also a community based product, right, like people are

844
00:50:05,840 --> 00:50:09,600
Speaker 1: buying from each other. There's an unbelievable world of crazy

845
00:50:09,640 --> 00:50:13,120
Speaker 1: stuff going on on Instagram and social selling in those platforms,

846
00:50:13,440 --> 00:50:15,520
Speaker 1: and I think that will be a big, big market

847
00:50:15,520 --> 00:50:17,640
Speaker 1: for a long time to come. So you know, I

848
00:50:18,520 --> 00:50:20,799
Speaker 1: feel fortunate that I can do what I want to

849
00:50:20,840 --> 00:50:22,360
Speaker 1: do and I get to sit here and talk to

850
00:50:22,400 --> 00:50:24,560
Speaker 1: you about it and like sort of look back on

851
00:50:24,600 --> 00:50:26,480
Speaker 1: it and say, oh, yeah, I was so smart, but

852
00:50:26,680 --> 00:50:28,960
Speaker 1: you know, I just I kept swinging the bat is

853
00:50:29,000 --> 00:50:29,960
Speaker 1: really what it came down to.

854
00:50:30,440 --> 00:50:33,880
Speaker 2: Smart, persistent, a little bit of luck. That's a great combination.

855
00:50:34,600 --> 00:50:36,400
Speaker 2: Tell us what you're streaming these days? What are you

856
00:50:36,400 --> 00:50:37,360
Speaker 2: watching or listening?

857
00:50:38,360 --> 00:50:42,280
Speaker 1: I am watching The New Look because I love fashion

858
00:50:42,520 --> 00:50:46,680
Speaker 1: and I love history, so I love a documentary, so

859
00:50:46,760 --> 00:50:48,080
Speaker 1: that's what I'm watching these days.

860
00:50:48,120 --> 00:50:50,640
Speaker 2: Have you watched What is It Palm Royal on that

861
00:50:50,800 --> 00:50:57,480
Speaker 2: yet if you want to see a just lovingly photographed

862
00:50:57,680 --> 00:51:02,000
Speaker 2: set of fashion and just great the way it's done

863
00:51:02,040 --> 00:51:05,520
Speaker 2: is on the list. On the list. Let's talk about

864
00:51:05,560 --> 00:51:08,040
Speaker 2: mentors who helped shape your career.

865
00:51:09,640 --> 00:51:11,800
Speaker 1: There was a guy I was on the board of Care,

866
00:51:13,080 --> 00:51:16,120
Speaker 1: which is the world's largest NGO, for six years, and

867
00:51:16,160 --> 00:51:18,880
Speaker 1: there was a really excellent McKinsey partner that ran the

868
00:51:18,880 --> 00:51:21,640
Speaker 1: board practices, Paul Jansen, and he taught me how to

869
00:51:21,680 --> 00:51:24,560
Speaker 1: be a good board member. And being a good board

870
00:51:24,560 --> 00:51:28,360
Speaker 1: member means you don't talk too much and that you

871
00:51:28,520 --> 00:51:33,200
Speaker 1: are supportive in critical moments of decision. So he was

872
00:51:33,280 --> 00:51:37,120
Speaker 1: one I think. You know, Steve Bomber taught me a

873
00:51:37,120 --> 00:51:39,799
Speaker 1: lot about how to think in an engineering mindset and

874
00:51:39,920 --> 00:51:45,560
Speaker 1: think about technology. You know I have. I think an

875
00:51:45,760 --> 00:51:48,839
Speaker 1: entrepreneur and someone that starts a company is sort of

876
00:51:48,880 --> 00:51:51,120
Speaker 1: the bravest soul in the world right now. So anything

877
00:51:51,200 --> 00:51:52,279
Speaker 1: I can learn from them I do.

878
00:51:52,719 --> 00:51:55,400
Speaker 2: Huh really interesting. Let's talk about books. What are some

879
00:51:55,440 --> 00:51:57,280
Speaker 2: of your favorites? What are you reading right now?

880
00:51:57,480 --> 00:52:02,680
Speaker 1: What am I reading right now? Midnight Express a tale

881
00:52:02,800 --> 00:52:06,600
Speaker 1: about someone that helps her sister through hospice and then

882
00:52:06,719 --> 00:52:09,800
Speaker 1: takes mushrooms to overcome depression and anxiotry.

883
00:52:09,920 --> 00:52:14,000
Speaker 2: Not the seventies. Now you're a movie about no, no, no,

884
00:52:14,440 --> 00:52:19,240
Speaker 2: about bringing how she's now totally different.

885
00:52:19,320 --> 00:52:20,640
Speaker 1: That's totally different, huh.

886
00:52:20,680 --> 00:52:21,640
Speaker 2: And give me one more.

887
00:52:22,480 --> 00:52:26,040
Speaker 1: Financially Fearless by Katie Song, which was written out of

888
00:52:26,080 --> 00:52:30,319
Speaker 1: a need Facebook group. Moms would ping her every day

889
00:52:30,360 --> 00:52:34,200
Speaker 1: about financial advice. So she sat down over a weekend

890
00:52:34,360 --> 00:52:37,760
Speaker 1: and wrote a book for them, and we self published

891
00:52:37,760 --> 00:52:40,640
Speaker 1: it and we give it to every tech mom we know,

892
00:52:40,760 --> 00:52:41,839
Speaker 1: so they have a financial plan.

893
00:52:41,960 --> 00:52:45,560
Speaker 2: Financially fear Fearless. And let's let's let's throw a bone

894
00:52:45,600 --> 00:52:48,480
Speaker 2: to Kara. What what your friend Kara Swisher? What's her

895
00:52:48,719 --> 00:52:49,160
Speaker 2: new book?

896
00:52:49,200 --> 00:52:52,400
Speaker 1: That's out Burne? Who doesn't love burn right? You know,

897
00:52:52,480 --> 00:52:54,560
Speaker 1: I told Kara I was coming here today. She's like

898
00:52:54,920 --> 00:52:58,680
Speaker 1: Barry is a very good podcaster. I've been on a how.

899
00:52:58,719 --> 00:53:01,160
Speaker 2: To get her back into talking about the book because

900
00:53:01,239 --> 00:53:05,840
Speaker 2: it's literally I just finished a book for next week's podcast. Yeah,

901
00:53:05,880 --> 00:53:08,200
Speaker 2: and her book is literally next to him.

902
00:53:08,360 --> 00:53:10,480
Speaker 1: I'm in the book, I'm in the bank. So the

903
00:53:10,520 --> 00:53:13,319
Speaker 1: book was fun. You know, Kara is.

904
00:53:13,920 --> 00:53:15,360
Speaker 2: Kara is, She's fearless.

905
00:53:15,840 --> 00:53:19,000
Speaker 1: There is nobody more fearless than Kara Swisher.

906
00:53:19,320 --> 00:53:25,560
Speaker 2: She actually there's nobody names names and nobody and them.

907
00:53:25,760 --> 00:53:30,040
Speaker 1: Also loves work, loves to invent, loves to be ahead

908
00:53:30,040 --> 00:53:35,840
Speaker 1: of things. Really a very very sharp person.

909
00:53:36,080 --> 00:53:40,680
Speaker 2: Very much so. So our final two questions, what sort

910
00:53:40,680 --> 00:53:43,640
Speaker 2: of advice would you give to a recent college grad

911
00:53:44,160 --> 00:53:47,360
Speaker 2: who is interested in a career in filling the blank

912
00:53:47,920 --> 00:53:52,879
Speaker 2: finance technology startups venture? What what's the advice to that

913
00:53:53,040 --> 00:53:54,120
Speaker 2: recent graduate?

914
00:53:54,320 --> 00:53:56,920
Speaker 1: Yeah, do your research. So if you want to go

915
00:53:56,960 --> 00:54:01,440
Speaker 1: into finance. There's two women that run a a Instagram

916
00:54:01,560 --> 00:54:05,200
Speaker 1: channel called Wall Street Skinny that teach you how to

917
00:54:05,200 --> 00:54:07,120
Speaker 1: get jobs and money. You should have them on the show.

918
00:54:07,239 --> 00:54:11,480
Speaker 1: They both work Wall Street Skinny. They're amazing. They always

919
00:54:11,600 --> 00:54:13,799
Speaker 1: cite you, but they teach you the ins and outs

920
00:54:13,840 --> 00:54:17,040
Speaker 1: of how to get a job in finance on every front.

921
00:54:17,480 --> 00:54:19,040
Speaker 1: I think if you are going to get a job

922
00:54:19,080 --> 00:54:23,080
Speaker 1: at a public company, you should read their annual report.

923
00:54:23,680 --> 00:54:26,959
Speaker 2: The company itself company. You go on an ABC Bank,

924
00:54:27,080 --> 00:54:28,360
Speaker 2: read ABC Banks.

925
00:54:30,080 --> 00:54:32,480
Speaker 1: First stop, first stop on the hip parade. Go read

926
00:54:32,480 --> 00:54:35,799
Speaker 1: the annual report. It's their strategy document. It's what they

927
00:54:35,840 --> 00:54:40,799
Speaker 1: tell people. If not, you have to do it right

928
00:54:40,960 --> 00:54:43,879
Speaker 1: like you read it, you are further ahead than most

929
00:54:43,920 --> 00:54:48,560
Speaker 1: employees there. So do your research, right. You know, I've

930
00:54:48,600 --> 00:54:52,719
Speaker 1: gone deep into you know, filings like SEC filings, like

931
00:54:53,040 --> 00:54:55,240
Speaker 1: you know, I before I go work with a company

932
00:54:55,280 --> 00:54:58,440
Speaker 1: that's public, I look at every execs comp package like

933
00:54:58,560 --> 00:55:02,719
Speaker 1: I love to, you know, dumpster dive through SEC filings.

934
00:55:02,800 --> 00:55:05,640
Speaker 1: It's not that hard to do. Set your alerts. So

935
00:55:05,800 --> 00:55:10,359
Speaker 1: do your research. Know what the person cares about, know

936
00:55:10,640 --> 00:55:13,759
Speaker 1: what the company cares about, and have interest in them,

937
00:55:14,120 --> 00:55:17,960
Speaker 1: and also bring them ideas. My daughter was once looking

938
00:55:18,000 --> 00:55:21,520
Speaker 1: for a job and freelance job, and I said, just

939
00:55:21,719 --> 00:55:25,319
Speaker 1: remake the person's website. It's a company I invested in.

940
00:55:25,360 --> 00:55:27,960
Speaker 1: Their website drove me crazy. And she's a designer, and

941
00:55:28,000 --> 00:55:30,000
Speaker 1: I said, he's not going to tell you what he wants,

942
00:55:30,160 --> 00:55:32,040
Speaker 1: so just do it and send it to him. So

943
00:55:32,040 --> 00:55:33,440
Speaker 1: she did it and sent it to him, and he

944
00:55:33,520 --> 00:55:36,319
Speaker 1: hired her to do that project. Yeah, and she's like,

945
00:55:36,360 --> 00:55:38,200
Speaker 1: I don't want to do spec work. And I'm like, well,

946
00:55:38,640 --> 00:55:41,040
Speaker 1: it's when you're starting off, you have to do some

947
00:55:41,080 --> 00:55:42,879
Speaker 1: spec work. It's just the way it is.

948
00:55:43,719 --> 00:55:47,640
Speaker 2: That's tremendous advice. Our final question, what do you know

949
00:55:47,680 --> 00:55:54,000
Speaker 2: about the world of investing startups? Marketing? And branding today.

950
00:55:54,200 --> 00:55:56,880
Speaker 2: You wish you knew a couple of decades ago when

951
00:55:56,920 --> 00:55:58,560
Speaker 2: you were first getting started.

952
00:55:58,560 --> 00:56:02,320
Speaker 1: Do not fight so hard on your brand. So I

953
00:56:02,800 --> 00:56:07,360
Speaker 1: have a brand I advise. It was called four Days

954
00:56:07,600 --> 00:56:11,480
Speaker 1: f R F O R D A y s dot com.

955
00:56:11,560 --> 00:56:13,200
Speaker 1: They sold you a T shirt and at the end

956
00:56:13,239 --> 00:56:15,880
Speaker 1: of life you could send the T shirt back. I

957
00:56:15,960 --> 00:56:18,360
Speaker 1: worked with the CEO. I said, look, this needs to

958
00:56:18,400 --> 00:56:21,239
Speaker 1: look a little more like Skittles and be bright. She

959
00:56:21,320 --> 00:56:24,759
Speaker 1: has rebranded it to trashy dot Io. Has a deal

960
00:56:24,800 --> 00:56:28,200
Speaker 1: with Walmart and sold out of her take back bags

961
00:56:28,200 --> 00:56:32,160
Speaker 1: that are going viral on Instagram. And it was too

962
00:56:32,239 --> 00:56:35,919
Speaker 1: hard to explain what four days was. Trashy dot io

963
00:56:37,480 --> 00:56:41,080
Speaker 1: send your old clothes back, get cash reward for it.

964
00:56:41,440 --> 00:56:45,399
Speaker 1: Very simple, straightforward. It's on a tear right now. When

965
00:56:45,400 --> 00:56:51,000
Speaker 1: you over complicate what you're selling, it's impossible. Nobody can listen,

966
00:56:51,040 --> 00:56:54,319
Speaker 1: nobody can follow it. You wide out, So you got

967
00:56:54,320 --> 00:56:55,080
Speaker 1: to keep it simple.

968
00:56:55,320 --> 00:56:58,560
Speaker 2: Huh. Really, really fascinating stuff, Joanne, Thank you for being

969
00:56:58,560 --> 00:57:01,360
Speaker 2: so generous with your time. We have been speaking with

970
00:57:01,480 --> 00:57:07,080
Speaker 2: Joann Bradford of honeypinterst, Yahoo, Wealth dot com, Domain money,

971
00:57:08,120 --> 00:57:11,319
Speaker 2: go down the whole list. If you enjoy this conversation,

972
00:57:11,480 --> 00:57:14,160
Speaker 2: check out any of the previous five hundred or so

973
00:57:14,239 --> 00:57:17,240
Speaker 2: we've done over the past nine and a half years.

974
00:57:17,560 --> 00:57:20,960
Speaker 2: You can find those at iTunes, Spotify, YouTube, wherever you

975
00:57:21,080 --> 00:57:25,640
Speaker 2: find your favorite podcasts. Check out my new podcast at

976
00:57:25,640 --> 00:57:30,560
Speaker 2: the Money, ten minute conversations with experts about your money,

977
00:57:30,880 --> 00:57:35,200
Speaker 2: earning it, spending it, and most importantly, investing it. Find

978
00:57:35,200 --> 00:57:37,920
Speaker 2: it in the Masters and Business feed, or wherever you

979
00:57:38,000 --> 00:57:41,560
Speaker 2: find your favorite podcasts. I would be remiss if I

980
00:57:41,600 --> 00:57:43,520
Speaker 2: did not thank the correct team that helps put these

981
00:57:43,560 --> 00:57:48,480
Speaker 2: conversations together each week. Sarah Lidsey is my audio engineer.

982
00:57:48,600 --> 00:57:51,439
Speaker 2: A Tick of al Brun is my project manager. Anna

983
00:57:51,520 --> 00:57:56,240
Speaker 2: Luke is my producer. Sean Russo is my researcher. I'm

984
00:57:56,320 --> 00:58:00,320
Speaker 2: Barry Ridolts. You've been listening to Masters in Business on

985
00:58:00,440 --> 00:58:01,400
Speaker 2: Bloomberg Radio.