Podcasts about Charles Schwab

Jason Harris is the co-founder & CEO of the award-winning creative advertising agency Mekanism, co-founder of the Creative Alliance and author of the national bestseller, The Soulful Art of Persuasion. Harris works closely with brands through a blend of creativity and performance. Iconic brands he's worked with include Peloton, Ben & Jerry's, Jose Cuervo, Alaska Airlines, Charles Schwab and OkCupid, among others.

Anticipating and planning for obstacles can sometimes be more powerful than adopting a positive mindset.A positive attitude is important when embarking on any new endeavor. However, as you may have heard in previous episodes of Choiceology with Katy Milkman, overoptimism also can blind you to important information.In this episode, we look at a strategy that can help counteract the effects of overoptimism and overconfidence. You could call it the power of negative thinking.We begin with the amazing story of a lake in Louisiana that completely disappeared in a matter of hours. An oil drilling accident in 1980 created a giant sinkhole in Lake Peigneur that rapidly drained massive amounts of water into an active salt mine, swallowing several boats and barges and large chunks of land in the process. The event was catastrophic, but no lives were lost, thanks in part to robust emergency planning.You'll hear first-hand accounts of the dramatic event from Michael Richard, Sr., whose family owns and operates a garden and a nursery on the shores of Lake Peigneur, and from Dr. Kelvin Wu, who describes the scene in the salt mine as the disaster unfolded.Dr. Kelvin Wu is a retired mining engineer and former chief of the Mine Waste & Geotechnical Engineering Division at the Mine Safety and Health Administration.Michael Richard, Sr., owns and runs Rip Van Winkle Gardens and Live Oak Gardens on Lake Peigneur, Louisiana.Emergency planning played an important role in the outcome of this disaster. But planning for the worst needn't be limited to life and death scenarios.Annie Duke joins Katy to argue that negative thinking—imagining failure in order to manage or prevent it— can actually help improve the odds of success when planning anything from a product launch to a birthday party. She argues that people shy away from negative thinking because it can feel unpleasant. But if you push through that unpleasantness, negative thinking can motivate you to take positive preemptive steps.Annie Duke is an author and decision strategist. You can read more about negative thinking in her book How to Decide.Finally, Katy differentiates negative thinking from pessimistic thinking. While pessimistic thinking can drain motivation and prevent you from setting goals, negative thinking can help you identify certain problems before they arise and raise your chances of success.Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts.Important DisclosuresAll expressions of opinion are subject to change without notice in reaction to shifting market conditions.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.The book, How to Change: The Science of Getting from Where You Are to Where You Want to Be, is not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Charles Schwab & Co., Inc. (CS&Co.) has not reviewed the book and makes no representations about its content.Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.(1021-1UD8)

Welcome to Day 1762 of our Wisdom-Trek, and thank you for joining me. This is Guthrie Chamberlain, Your Guide to Wisdom Unlimited Enthusiasm – Daily Wisdom Welcome to Wisdom-Trek with Gramps. We are on Day 1762 of our Trek, and it's time to explore another nugget of wisdom, which includes an inspirational quote along with some wise words from Gramps for today's trek. Wisdom is the final frontier in gaining true knowledge. We are on a daily trek to create a legacy of wisdom, seek out discernment and insights, and boldly grow where few have chosen to grow before. Hello, my friend; this is Gramps. Thanks for coming along on today's trek as we increase Wisdom and Create a Living Legacy. https://www.biblegateway.com/passage/?search=Proverbs%2016%3A16&version=NLT (Proverbs 16:16)  How much better to get wisdom than gold, and sound judgment than silver!    If you apply the words you hear today, over time, it will help you become more healthy, wealthy, and wise as you continue your daily trek of life.  So let's jump right in with today's nugget: Today's quote is from Charles Schwab, and it is: A man can succeed at almost anything for which he has unlimited enthusiasm. Unlimited Enthusiasm   Enthusiasm may not be required for success on every occasion. Still, if a person is going to be successful in their endeavors on a consistent and continual basis, they must be enthusiastic about what they are doing. It boils down to the fact that if a person has unlimited enthusiasm, they will not quit until success has been achieved, even if it requires going through multiple failures.  The passion and drive needed to persist through the trials and obstacles of life are bolstered by unlimited enthusiasm.  It is that extra ingredient needed to keep on going when others would have given up and quit. Boundless enthusiasm is created when we choose to be enthusiastic.  As with most aspects of life, when deciding to take action, continue, and fight against the odds, our desires are strong enough to align with our choices. If we follow God's leading in our lives, we should move forward with enthusiasm and know that He who began a good work in us will continue to guide us. https://www.biblegateway.com/passage/?search=Philippians%201%3A6&version=NLT (Philippians 1:6) And I am certain that God, who began the good work within you, will continue his work until it is finally finished on the day when Christ Jesus returns. As you ponder this nugget of wisdom for yourself, please encourage your friends and family to join us and then come along tomorrow for another day of ‘Wisdom-Trek, Creating a Legacy.' If you would like to listen to any of our past 1761 treks or read the Wisdom Journal, they are available at Wisdom-Trek.com.  I encourage you to subscribe to Wisdom-Trek on your favorite podcast player so that each day's trek will be downloaded automatically. If you would also like to receive our weekly newsletter called ‘Wisdom Notes,' please email me at guthrie@wisdom-trek.com. Thank you so much for allowing me to be your guide, mentor, and, most of all, your friend as I serve you through this Wisdom-Trek podcast and journal. As we take this Trek together, let us always: Live Abundantly (Fully) Love Unconditionally Listen Intentionally Learn Continuously Lend to others Generously Lead with Integrity Leave a Living Legacy Each Day I am Guthrie Chamberlain….reminding you to 'Keep Moving Forward,' ‘Enjoy your Journey,' and ‘Create a Great Day…Everyday'! See you Tomorrow for more daily wisdom!  

LEO HOHMANN, Independent Investigative Journalist, LeoHohmann.com Leo Hohmann talks about Charles Schwab's “Global Reset” and the fourth industrial revolution - Is a fusion of our biological and technological identities underway? Hohmann talks about the numerous effects vaccine mandates and passports have had on societies around the world BILL WALTON, Chairman, Resolute Protector Foundation, Host, The Bill Walton Show, Senior Fellow, Discovery Institute's Center on Wealth, Poverty and Morality, @billwaltonshow Bill Walton talks about China's newly tested nuclear-capable hypersonic missile: Much of China's military hardware relies on microchips manufactured by Taiwan-based companies Walton: Arbitrary standards for what constitutes an “essential industry” have done more harm than good to the U.S. economy Walton: To reach our currently climate goals, half of the energy in the U.S. would have to be derived from batteries 

O seu podcast sobre o mercado americano.

This is an exclusive "Hedgeye Investing Summit" interview between Liz Ann Sonders, Chief Investment Strategist of Charles Schwab, and Hedgeye CEO Keith McCullough.***This content aired as a video webcast live on Monday October 4, 2021***Want access to our 8 other webcast in this series? Click HERE to get free access: Register for our new Simulated Trading Tournament HedgEye On The Prize for the chance to win cash prizes and Hedgeye product subscriptions!

Liz and Jenny look at viewer trade ideas. The gals place a reverse jade lizard in GM, an earnings strangle in AA, and trade Charles Schwab.Features Symbols: AA, GM, FB, and SCHW

Liz and Jenny look at viewer trade ideas. The gals place a reverse jade lizard in GM, an earnings strangle in AA, and trade Charles Schwab.Features Symbols: AA, GM, FB, and SCHW

While the markets continue to keep a wary eye on the slowly unfolding dramas in Washington, there is plenty more threatening to roil the markets in the fourth quarter and beyond. Liz Ann Sonders, Schwab's chief investment strategist, joins the podcast for the first of a two-part conversation with host Mike Townsend to break it all down. They discuss how the market is reacting to the ongoing debates in Washington, including the decision to put off the debt ceiling fight until December, as well as bigger picture challenges the market is facing, from inflation to the rising national debt to a potential change in leadership at the Federal Reserve. Mike also provides his perspective on the latest developments with key issues on Capitol Hill, a breakthrough international tax agreement, and the SEC chairman's latest comments on cryptocurrency.WashingtonWise Investor is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/WashingtonWise.If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts. Important Disclosures:The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Investing involves risk, including loss of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions1021-1L20

The stock market is irrational and you're not going to get rich trading on it. But what if you were sold the idea you could? This week, we discuss Republican stalwart, Charles Schwab, and his company that put its employees in harms way.

Most of us would prefer to avoid an argument at work or at home. But there are times when arguments—at least when they're civil—can help surface important information for decision-making. In this episode of Choiceology with Katy Milkman, we look at situations where certain types of conflict can actually lead to better outcomes.You're probably familiar with the story of Orville and Wilbur Wright. The Wright brothers secured their place in history by achieving the world's first sustained flight of a powered, heavier-than-air aircraft at Kitty Hawk, North Carolina, in December of 1903. Less well known is the fact that the brothers would often argue intensely with each other over their engineering ideas.Tom Crouch reveals the family culture of argument and debate inside the Wright home as the brothers were growing up, and he explains how that argumentative streak may have helped them solve a key problem in their quest for powered flight.Tom D. Crouch is curator emeritus of the Smithsonian Institution and the author of The Bishop's Boys: A Lifeof Wilbur and Orville Wright.A version of the Wright Brothers story appears in Adam Grant's new book, Think Again: The Power of Knowing What You Don't Know. Adam joins Katy to discuss how you can leverage constructive conflict to arrive at better decisions. He also explains how agreeableness can sometimes hold you back. Adam Grant is the Saul P. Steinberg Professor of Management at the Wharton School of the University of Pennsylvania. He's also host of the popular TED podcast WorkLife.Finally, Katy provides advice on how to find the right level of task conflict in order to maximize the creativity and innovation that comes from collaborative problem solving.Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts.Important DisclosuresAll expressions of opinion are subject to change without notice in reaction to shifting market conditions.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.The book How to Change: The Science of Getting from Where You Are to Where You Want to Be is not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Charles Schwab & Co., Inc. (CS&Co.) has not reviewed the book and makes no representations about its content.(1021-1WX2)

After many decades of finding talent and reaping success in California, Larry Ellison packed up Oracle and headed for Texas – and he's not the only one. Charles Schwab followed suit and now Elon Musk has confirmed Tesla will also be finding a new home in Austin. Those are three big blows to California that has others wondering if these moves are more than coincidence. California's advantages seem to be dissolving around us and the last thing we want to do is wake up one day and ask ourselves how we did we not see this coming. Joe Cucchiara and Jack Russo discuss how California went from being a big draw to the place you probably don't want to run your business from.     To learn more, simply visit www.RERadioLive.com. All the information in this podcast is broadcast in good faith and for general information purpose only. We do not make any warranties about the completeness, reliability and accuracy of this information. Any action you take upon the information on our website is strictly at your own risk.  We will not be liable for any losses and damages in connection with the use of associated information. www.reradiolive.com All Rights Reserved. Copyright 2015. Joe Cucchiara MLO 273084 This is not a commitment to lend. Our team fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/.

Jeremy Booth is a creative illustrator whose work focuses on commercial, editorial, and mural illustrations. His philosophy is to create bold illustrations that communicate well and are hard to forget. He has worked with brands such as Amazon, Slack, Warby Parker, Orange, ADP, Charles Schwab, CNES, Invision, and many more. And now he works full-time as a product illustrator for Coinbase.Most recently, Jeremy has been designing a new generative NFT art project called Bushidos. It is an 8,888 NFT samurai that defends the Ethereum blockchain from centralization and FUD. Jeremy and his team have been an active community and shares his learning from building his own collection and NFT community. The NFTs will be minted in October of 2021. Join their discord community for more information on how to participate –– https://www.bushidos.io

"If we can set goals, that make it bite-size to achieve the long run objective, then that brings forward also our motivation, because we can see what we need to do today and tomorrow." Katy Milkman What inspired Katy Milkman to become a behavioral scientist? What is 'present-bias' and why is it so common? How are habits maintained and built? What are the personal benefits of 'temptation bundling'? Jack of all trades: An illustrious career Behavioral scientist, professor of operations, economist; Dr. Katy Milkman can do it all. She's so versatile that in addition to being a Professor at Wharton School of Business, she has a secondary appointment at Penn's Perelman School of Medicine. Her research revolves around the process of decision-making and habit formation; essentially, how people change. With a range of academic interests and abilities, Dr. Milkman is one of the most reliable resources in the field. She's won awards through research, including an early career award from the Federation of Associations in Behavioral & Brain Sciences. She was named one of the top 40 under 40 business school professors in the world by Poets & Quants, as well as a finalist for the Thinkers 50 2017 Radar Thinker Award. Katy's work is published on platforms such as The New York Times and The Harvard Business Review and is regularly featured on NPR. She's become something of a celebrity in academic circles. But it's her work translating the science for ordinary people that may have the most impact. She hosts the Choiceology podcast for Charles Schwab, has a TEDx talk, and her new book, How to Change, was named one of the Amazon's best of 2021. Dr. Milkman is not just researching change. She's making it available to everyone. Gaming the System: Exploring behavioral economics Throughout her career Katy has gained insight from the decision-making process of average people. Knowing what makes people tick and why can be life-changing. We look at what motivates people, internal and external barriers, goal pursuing and habits. We dig into the mechanics behind behaviorism as Katy tells us about devices like 'present bias' and 'gamification'. Gamification can be a powerful force for change. By creating game-like incentives for behavior, goal achievement can be more fun. This strategy can be applied to individual habits or to something larger like employee performance and government programs, like vaccine adoption. The possibilities are endless. Patience is a Virtue: Behavioral change takes time As a member of the Forbes Top 10 Behavioral Scientists of 2020 list, Dr. Milkman knows a thing or two about human nature. During the COVID-19 pandemic, Milkman argued that getting people to wear masks would have been easier if people had considered them as fashion items. This thesis closely relates to a term she coined: 'temptation bundling'. It's the idea of coupling something you enjoy with something you view as a burden to invoke the willpower to get things completed. As she says, "if we recognize we need to make it fun to pursue our goals, we're going to be much more likely to persist". In our discussion, Katy draws on the ways people find motivation to pursue their goals, self-discipline and social influence. Want to find out more about yourself? Katy has the answers. Key takeaways: Tick Tock: Behavioral and habitual change doesn't happen overnight. Take your time, understand the process Dilemma: Learn to address and overcome internal and external barriers Understand your surroundings: Recognize how your social environment impacts your decision-making Links And Resources The Game Changing Attorney Podcast Michael Mogill Facebook Michael Mogill Twitter Michael Mogill Instagram Michael Mogill LinkedIn Crisp Website Crisp Facebook Crisp Twitter Crisp Instagram Crisp LinkedIn Katy Milkman Website Katy Milkman LinkedIn Katy Milkman Twitter How to Change - Book Website

Lynne Twist is the founder of the Soul of Money Institute and author of the best-selling, award-winning book "The Soul of Money: Transforming Your Relationship with Money and Life.” Over the past 40 years, Lynne has worked with over 100,000 people in 50 countries in the arenas of fundraising with integrity, conscious philanthropy, strategic visioning, and having a healthy relationship with money. Her clients include Microsoft, Proctor & Gamble, the International Unity Church, Charles Schwab, United Way, The National Black Theater of Harlem, Harvard University, and others. A sought-after speaker, she has presented for the United Nations Beijing Women's Conference, State of the World Forum, Synthesis Dialogues with His Holiness the Dalai Lama, and the Governor's Conference on California Women, among others. A recognized global visionary, Ms. Twist has been an advisor to the Desmond Tutu Foundation, and The Nobel Women's Initiative. Lynne is the recipient of numerous prestigious honors, including the "Woman of Distinction" award from the United Nations. Lynne is a co-founder of The Pachamama Alliance — a nonprofit organization whose mission is to empower indigenous people of the Amazon rainforest to preserve their lands and culture.  In addition, Lynne serves on a number of nonprofit boards including the Fetzer Institute, The Institute of Noetic Sciences, Bioneers, Conscious Capitalism, and Women's Earth Alliance. From working with Mother Teresa in Calcutta to the refugee camps in Ethiopia and the threatened rainforests of the Amazon, Lynne's on-the-ground work has brought her a deep understanding of the social tapestry of the world and the historical landscape of the times we are living in. Websites: soulofmoney.org pachamama.org Discussion of this interview in the BatGap Community Facebook Group. Interview recorded September 28, 2021. Video and audio below. Audio also available as a Podcast.

As Congress continues to struggle with a quartet of complex policy issues, it's no exaggeration to say that the bull market and the economy are at risk. On this episode of WashingtonWise Investor, Randy Frederick, Schwab's managing director of trading and derivatives, joins host Mike Townsend to discuss how the market might react, how investors could prepare for potential market disruptions, and how there might be opportunities for investors even as the risks to the market grow. They also talk about the rising popularity of cryptocurrencies, the role of crypto in the economy of the future, and whether greater government scrutiny of digital currencies will eventually help increase the confidence of ordinary investors.Mike also offers updates on the SEC chairman confronting the reality that his ambitious regulatory agenda may take longer than he hoped, and how two surprise resignations could reshape the Federal Reserve as the central bank heads into a critically important year. WashingtonWise Investor is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/WashingtonWise.If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts.Important Disclosures:The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Investing involves risk, including loss of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitionsDiversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.There is no guarantee that execution of a stop order will be at or near the stop price.Correlation is a statistical measure of how two investments have historically moved in relation to each other, and ranges from -1 to +1. A correlation of 1 indicates a perfect positive correlation, while a correlation of -1 indicates a perfect negative correlation. A correlation of zero means the assets are not correlated.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Currencies are speculative, very volatile and are not suitable for all investors.Supporting documentation for any claims or statistical information is available upon request.(0921-1L1G)

Fritz Folts, chief investment strategist at 3EDGE Asset Management, says supply chain issues, Covid variants and other factors aren't going away, which will leave inflation higher heading into 2022, making it harder for the Federal Reserve to balance interest rates and inflation with changing global growth. Folts says that investors need to respond to the potential trouble by being better diversified outside of the United States, trying to generate more return without taking on too much risk. Also on the show, Brian Dress, director of research for Left Brain Investment Research, discusses preferred securities as a high-yield alternative in today's low-rate market, Zack Gipson, managing director of digital investor solutions for Charles Schwab talks about a survey released Tuesday that shows how investors are more reliant on technology than ever but still need human touch on the most important planning decisions, and author Christopher Mims discusses his new book, 'Arriving Today: From Factory to Front Door -- Why Everything Has Changed About How and What We Buy.'

Perhaps this scenario seems familiar. Let's say you generally do a good job of sticking to your monthly budget, but a rare opportunity arises—maybe a favorite musical artist is in town, or you've been invited to a friend's 25th anniversary event—and you blow past your regular spending limit. It's all right—you'll just have to tighten your belt a bit next month. But then your phone stops working, and you have to buy a new model. And now your car needs an expensive repair. Again, these are not ordinary expenses, so you chalk it up to life and go back to your usual budget. And then the invitation to a destination wedding arrives …In this episode of Choiceology with Katy Milkman, we explore a common error around the way individuals and organizations categorize seemingly exceptional expenses.Food trucks have come a long way since their humble beginnings as purveyors of meat pies and coffee for day laborers. Today, there's a stunning variety of culinary options: from simple french fries to French haute cuisine, from ice cream to iced lattes, from Vietnamese pho to Mongolian pot stickers. And while these businesses may seem relatively straightforward to run, food trucks and small restaurants run into their fair share of unexpected costs.You hear from two food truck entrepreneurs. Greg Golden runs the delightful Mustache Pretzels, which he built from the ground up in Phoenix, Arizona. Greg was confident in his idea and his product but quickly ran into a series of financially painful setbacks on his way to a thriving business.Howie Jeon started his food truck business, Yumpling, with two partners and found success providing Taiwanese-inspired dumplings and other fusion fare to the lunch crowd in Manhattan. But when it came time to expand into a permanent brick-and-mortar restaurant, Howie and his partners faced a litany of challenges, not least of which was a global pandemic.Abigail Sussman joins Katy to discuss the ways in which we tend to dismiss or miscategorize expenses that fall outside of our regular budgets. These categorization errors can have a profound impact on businesses large and small—and also on personal budgets. You'll hear about strategies to help deal with this tendency and to better prepare for expenses that seem exceptional but are often inevitable. Abigail Sussman is an associate professor of marketing at the University of Chicago Booth School of Business. You can read her research paper with Adam Alter titled The Exception Is the Rule: Underestimating and Overspending on Exceptional Expenses for more information on the phenomenon.Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts. Important DisclosuresAll expressions of opinion are subject to change without notice in reaction to shifting market conditions.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.The book How to Change: The Science of Getting from Where You Are to Where You Want to Be is not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Charles Schwab & Co., Inc. (CS&Co.) has not reviewed the book and makes no representations about its content.(0921-1A9D)

Welcome to the What's Next! podcast with Tiffani Bova.     This week I am thrilled to bring you this episode of the What's Next! Podcast, an encore of my LinkedIn Live chat with the wonderful Katy Milkman. Katy is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania and holds a secondary appointment at Penn's Perelman School of Medicine. Her research explores ways that insights from economics and psychology can be harnessed to change consequential behaviors for good. She has received numerous awards for her research including an early career award from the Federation of Associations in Behavioral & Brain Sciences. Katy was also named one of the world's top 40 business school professors under 40 by Poets and Quants and she was a finalist for the Thinkers 50 2017 Radar Thinker Award. She also frequently writes about topics related to behavioral science for The Washington Post and Scientific American. In 2018, she began hosting Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making. I am so happy to bring you this episode of the What's Next! Podcast! with Katy Milkman!     THIS EPISODE IS PERFECT FOR… anyone wanting to make a change!    TODAY'S MAIN MESSAGE… Do you need a fresh start? Do you need to make a change? Well, change is a big word…or it can be. So where do you start? What do you focus on? Katy Milkman is here to demystify change and make it a little less scary and a little more doable. Step one, according to Katy? Decide that you want to make a change. Simple enough, right? Once you've made the decision, you can get started. Get reflecting, listening, trying different things. You've probably learned a great deal about yourself during the last year and a half. What has it shown you? Which changes didn't serve you and which changes have surprised you? Listen in on my discussion with Katy on change, habits, progress, and long-term goals.    WHAT  I  LOVE  MOST… Katy's optimistic outlook on the change we are seeing and the changes we hope to make.    Running time: 30:07     Subscribe on iTunes     Find Tiffani on social:  Facebook  Twitter  LinkedIn     Find Katy online:  Twitter  LinkedIn  Katy's Website    How to Change Book 

GUEST Katy Milkman is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania and holds a secondary appointment at Penn's Perelman School of Medicine. Her research explores ways that insights from economics and psychology can be harnessed to change consequential behaviors for good, such as savings, exercise, vaccination take-up and discrimination. She has also recently authored the Book - How to Change - The Science of Getting from Where You Are to Where You Want to Be.  In 2018, she began hosting Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making.  Published in September 2021.  HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. 32.Deepa Malik 33.Bombay Jayashri. 34.Arun Maira 35.Ambi Parameswaran 36.OP Bhaat 37.Indranil Chakraborty 38.Tarun Khanna 39. Ramachandra Guha 40. Stewart Friedman 41. Rich Fernandez 42. Falguni Nayar 43. Rajat Gupta 44. Kartik Hosanagar 45. Michael Watkins 46. Matt Dixon 47. Herminia Ibarra 48. Paddy Upton 49. Tasha Eurich 50. Alan Eagle 51. Sudhir Sitapati 52. James Clear 53. Lynda Gratton 54. Jennifer Petriglieri. 55. Matthew Walker 56. Raj Raghunathan 57. Jennifer Garvey Berger 58. BJ Fogg 59. R Gopolakrishnan 60. Sir Andrew Likierman. 61. Atul Khatri 62. Whitney Jonson 63. Venkat Krishnan 64. Marshall Goldsmith 65. Ashish Dhawan 66. Vinay Sitapati 67. Ashley Whillans 68. Tenzin Priyadarshi 69. Ramesh Srinivasan 70. Bruce Feiler 71. Sanjeev Aggarwal and T. N. Hari 72. Bill Carr 73. Jennifer Wetzler 74. Sally Helgesen 75. Dan Cable 76. Tom Vanderbilt 77. Darleen DeRosa 78. Amy Edmondson DISCLAIMER All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

NUGGET CONTEXT Katy speaks about Andre Agassi and the approach Brad Gilbert took with him when he was going through a slump. She says that Brad suggested that Andre would have to devise a strategy that is specific to each opponent and come up with a tailored approach to win and this new approach helped Agassi climb back to the top and win many more tournaments. Katy suggests a similar approach to tackling behavioral change. GUEST Katy Milkman is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania and holds a secondary appointment at Penn's Perelman School of Medicine. Her research explores ways that insights from economics and psychology can be harnessed to change consequential behaviors for good, such as savings, exercise, vaccination take-up and discrimination. She has also recently authored the Book - How to Change - The Science of Getting from Where You Are to Where You Want to Be.  In 2018, she began hosting Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making.  Published in September 2021.  HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. 32.Deepa Malik 33.Bombay Jayashri. 34.Arun Maira 35.Ambi Parameswaran 36.OP Bhaat 37.Indranil Chakraborty 38.Tarun Khanna 39. Ramachandra Guha 40. Stewart Friedman 41. Rich Fernandez 42. Falguni Nayar 43. Rajat Gupta 44. Kartik Hosanagar 45. Michael Watkins 46. Matt Dixon 47. Herminia Ibarra 48. Paddy Upton 49. Tasha Eurich 50. Alan Eagle 51. Sudhir Sitapati 52. James Clear 53. Lynda Gratton 54. Jennifer Petriglieri. 55. Matthew Walker 56. Raj Raghunathan 57. Jennifer Garvey Berger 58. BJ Fogg 59. R Gopolakrishnan 60. Sir Andrew Likierman. 61. Atul Khatri 62. Whitney Jonson 63. Venkat Krishnan 64. Marshall Goldsmith 65. Ashish Dhawan 66. Vinay Sitapati 67. Ashley Whillans 68. Tenzin Priyadarshi 69. Ramesh Srinivasan 70. Bruce Feiler 71. Sanjeev Aggarwal and T. N. Hari 72. Bill Carr 73. Jennifer Wetzler 74. Sally Helgesen 75. Dan Cable 76. Tom Vanderbilt 77. Darleen DeRosa 78. Amy Edmondson DISCLAIMER All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

NUGGET CONTEXT Katy speaks about how we all can leverage the power of a fresh start to drive behavioural change. She goes on to say that if we look hard enough then there might be several fresh opportunities we could find in our lives. Very often, we think Jan 1 in a year as a fresh start and have resolutions. But Katy goes on to say that we can have a similar approach if we think wider about a new start. She also refers to an initiative at Google that looked at key moments where people are more likely to engage in a certain behaviour. GUEST Katy Milkman is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania and holds a secondary appointment at Penn's Perelman School of Medicine. Her research explores ways that insights from economics and psychology can be harnessed to change consequential behaviors for good, such as savings, exercise, vaccination take-up and discrimination. She has also recently authored the Book - How to Change - The Science of Getting from Where You Are to Where You Want to Be.  In 2018, she began hosting Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making.  Published in September 2021.  HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. 32.Deepa Malik 33.Bombay Jayashri. 34.Arun Maira 35.Ambi Parameswaran 36.OP Bhaat 37.Indranil Chakraborty 38.Tarun Khanna 39. Ramachandra Guha 40. Stewart Friedman 41. Rich Fernandez 42. Falguni Nayar 43. Rajat Gupta 44. Kartik Hosanagar 45. Michael Watkins 46. Matt Dixon 47. Herminia Ibarra 48. Paddy Upton 49. Tasha Eurich 50. Alan Eagle 51. Sudhir Sitapati 52. James Clear 53. Lynda Gratton 54. Jennifer Petriglieri. 55. Matthew Walker 56. Raj Raghunathan 57. Jennifer Garvey Berger 58. BJ Fogg 59. R Gopolakrishnan 60. Sir Andrew Likierman. 61. Atul Khatri 62. Whitney Jonson 63. Venkat Krishnan 64. Marshall Goldsmith 65. Ashish Dhawan 66. Vinay Sitapati 67. Ashley Whillans 68. Tenzin Priyadarshi 69. Ramesh Srinivasan 70. Bruce Feiler 71. Sanjeev Aggarwal and T. N. Hari 72. Bill Carr 73. Jennifer Wetzler 74. Sally Helgesen 75. Dan Cable 76. Tom Vanderbilt 77. Darleen DeRosa 78. Amy Edmondson DISCLAIMER All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

NUGGET CONTEXT Katy refers to the song “Spoonful of sugar makes the medicine goes down” and speaks about how kids naturally warm up to the notion of doing something that seems like fun but adults sometimes don't appreciate it enough. She goes on to say how we could think about combining activities to ensure that we increase the odds of doing it. GUEST Katy Milkman is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania and holds a secondary appointment at Penn's Perelman School of Medicine. Her research explores ways that insights from economics and psychology can be harnessed to change consequential behaviors for good, such as savings, exercise, vaccination take-up and discrimination. She has also recently authored the Book - How to Change - The Science of Getting from Where You Are to Where You Want to Be.  In 2018, she began hosting Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making.  Published in September 2021.  HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. 32.Deepa Malik 33.Bombay Jayashri. 34.Arun Maira 35.Ambi Parameswaran 36.OP Bhaat 37.Indranil Chakraborty 38.Tarun Khanna 39. Ramachandra Guha 40. Stewart Friedman 41. Rich Fernandez 42. Falguni Nayar 43. Rajat Gupta 44. Kartik Hosanagar 45. Michael Watkins 46. Matt Dixon 47. Herminia Ibarra 48. Paddy Upton 49. Tasha Eurich 50. Alan Eagle 51. Sudhir Sitapati 52. James Clear 53. Lynda Gratton 54. Jennifer Petriglieri. 55. Matthew Walker 56. Raj Raghunathan 57. Jennifer Garvey Berger 58. BJ Fogg 59. R Gopolakrishnan 60. Sir Andrew Likierman. 61. Atul Khatri 62. Whitney Jonson 63. Venkat Krishnan 64. Marshall Goldsmith 65. Ashish Dhawan 66. Vinay Sitapati 67. Ashley Whillans 68. Tenzin Priyadarshi 69. Ramesh Srinivasan 70. Bruce Feiler 71. Sanjeev Aggarwal and T. N. Hari 72. Bill Carr 73. Jennifer Wetzler 74. Sally Helgesen 75. Dan Cable 76. Tom Vanderbilt 77. Darleen DeRosa 78. Amy Edmondson DISCLAIMER All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

NUGGET CONTEXT Katy speaks about how gamification of something is an art and if done well can really draw people into activities that they might otherwise consider boring. But she also goes on to say that if such games are not intuitively fun to people, they may not enter the magic circle, i.e. they may not embrace the implicit rules of behaviour that is required for everybody to have fun. She talks about how individuals and organizations should think about this. GUEST Katy Milkman is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania and holds a secondary appointment at Penn's Perelman School of Medicine. Her research explores ways that insights from economics and psychology can be harnessed to change consequential behaviors for good, such as savings, exercise, vaccination take-up and discrimination. She has also recently authored the Book - How to Change - The Science of Getting from Where You Are to Where You Want to Be.  In 2018, she began hosting Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making.  Published in September 2021.  HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. 32.Deepa Malik 33.Bombay Jayashri. 34.Arun Maira 35.Ambi Parameswaran 36.OP Bhaat 37.Indranil Chakraborty 38.Tarun Khanna 39. Ramachandra Guha 40. Stewart Friedman 41. Rich Fernandez 42. Falguni Nayar 43. Rajat Gupta 44. Kartik Hosanagar 45. Michael Watkins 46. Matt Dixon 47. Herminia Ibarra 48. Paddy Upton 49. Tasha Eurich 50. Alan Eagle 51. Sudhir Sitapati 52. James Clear 53. Lynda Gratton 54. Jennifer Petriglieri. 55. Matthew Walker 56. Raj Raghunathan 57. Jennifer Garvey Berger 58. BJ Fogg 59. R Gopolakrishnan 60. Sir Andrew Likierman. 61. Atul Khatri 62. Whitney Jonson 63. Venkat Krishnan 64. Marshall Goldsmith 65. Ashish Dhawan 66. Vinay Sitapati 67. Ashley Whillans 68. Tenzin Priyadarshi 69. Ramesh Srinivasan 70. Bruce Feiler 71. Sanjeev Aggarwal and T. N. Hari 72. Bill Carr 73. Jennifer Wetzler 74. Sally Helgesen 75. Dan Cable 76. Tom Vanderbilt 77. Darleen DeRosa 78. Amy Edmondson DISCLAIMER All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

NUGGET CONTEXT Katy speaks about the power of constraints and commitment devices which can help us move towards our goals. She refers to what Victor Hugo did when he was faced with a deadline in 1830 to publish his new book – The Hunchback of Notre Dame. When he had only 6 months left, Victor collected all of his clothes, removed them from his chambers, and locked them away. He was left with nothing to wear except a large shawl. Lacking any suitable clothing to go outdoors, Hugo was no longer tempted to leave the house and get distracted. Staying inside and writing was his only option. Katy speaks about the notion of commitment devices which borrows from this broad idea. GUEST Katy Milkman is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania and holds a secondary appointment at Penn's Perelman School of Medicine. Her research explores ways that insights from economics and psychology can be harnessed to change consequential behaviors for good, such as savings, exercise, vaccination take-up and discrimination. She has also recently authored the Book - How to Change - The Science of Getting from Where You Are to Where You Want to Be.  In 2018, she began hosting Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making.  Published in September 2021.  HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. 32.Deepa Malik 33.Bombay Jayashri. 34.Arun Maira 35.Ambi Parameswaran 36.OP Bhaat 37.Indranil Chakraborty 38.Tarun Khanna 39. Ramachandra Guha 40. Stewart Friedman 41. Rich Fernandez 42. Falguni Nayar 43. Rajat Gupta 44. Kartik Hosanagar 45. Michael Watkins 46. Matt Dixon 47. Herminia Ibarra 48. Paddy Upton 49. Tasha Eurich 50. Alan Eagle 51. Sudhir Sitapati 52. James Clear 53. Lynda Gratton 54. Jennifer Petriglieri. 55. Matthew Walker 56. Raj Raghunathan 57. Jennifer Garvey Berger 58. BJ Fogg 59. R Gopolakrishnan 60. Sir Andrew Likierman. 61. Atul Khatri 62. Whitney Jonson 63. Venkat Krishnan 64. Marshall Goldsmith 65. Ashish Dhawan 66. Vinay Sitapati 67. Ashley Whillans 68. Tenzin Priyadarshi 69. Ramesh Srinivasan 70. Bruce Feiler 71. Sanjeev Aggarwal and T. N. Hari 72. Bill Carr 73. Jennifer Wetzler 74. Sally Helgesen 75. Dan Cable 76. Tom Vanderbilt 77. Darleen DeRosa 78. Amy Edmondson DISCLAIMER All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

NUGGET CONTEXT Katy speaks about one of the attributes of Dr Max Bazerman, her advisor (who has a track record of having several of his students in reputed colleges around the world) when she was a PhD student. She speaks about how he would behave when his students would often face a bump or deal with a rejection and come to him for advise. Katy says that rather than focusing on critiquing the work content, he would focus on encouraging the student, highly counterintuitive for a lot of us. GUEST Katy Milkman is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania and holds a secondary appointment at Penn's Perelman School of Medicine. Her research explores ways that insights from economics and psychology can be harnessed to change consequential behaviors for good, such as savings, exercise, vaccination take-up and discrimination. She has also recently authored the Book - How to Change - The Science of Getting from Where You Are to Where You Want to Be.  In 2018, she began hosting Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making.  Published in September 2021.  HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. 32.Deepa Malik 33.Bombay Jayashri. 34.Arun Maira 35.Ambi Parameswaran 36.OP Bhaat 37.Indranil Chakraborty 38.Tarun Khanna 39. Ramachandra Guha 40. Stewart Friedman 41. Rich Fernandez 42. Falguni Nayar 43. Rajat Gupta 44. Kartik Hosanagar 45. Michael Watkins 46. Matt Dixon 47. Herminia Ibarra 48. Paddy Upton 49. Tasha Eurich 50. Alan Eagle 51. Sudhir Sitapati 52. James Clear 53. Lynda Gratton 54. Jennifer Petriglieri. 55. Matthew Walker 56. Raj Raghunathan 57. Jennifer Garvey Berger 58. BJ Fogg 59. R Gopolakrishnan 60. Sir Andrew Likierman. 61. Atul Khatri 62. Whitney Jonson 63. Venkat Krishnan 64. Marshall Goldsmith 65. Ashish Dhawan 66. Vinay Sitapati 67. Ashley Whillans 68. Tenzin Priyadarshi 69. Ramesh Srinivasan 70. Bruce Feiler 71. Sanjeev Aggarwal and T. N. Hari 72. Bill Carr 73. Jennifer Wetzler 74. Sally Helgesen 75. Dan Cable 76. Tom Vanderbilt 77. Darleen DeRosa 78. Amy Edmondson DISCLAIMER All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

NUGGET CONTEXT Katy speaks about what it takes to build a robust habit. She speaks about two archetypes – Flexible Fernando and Robust Rachels to illustrate the point. She goes on to say that Fernandos end up building a habit that is likely to stick despite the vagaries of real life as compared to Rachels (any gender related themes are just a mere coincidence!). She expands on this topic here. GUEST Katy Milkman is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania and holds a secondary appointment at Penn's Perelman School of Medicine. Her research explores ways that insights from economics and psychology can be harnessed to change consequential behaviors for good, such as savings, exercise, vaccination take-up and discrimination. She has also recently authored the Book - How to Change - The Science of Getting from Where You Are to Where You Want to Be.  In 2018, she began hosting Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making.  Published in September 2021.  HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. 32.Deepa Malik 33.Bombay Jayashri. 34.Arun Maira 35.Ambi Parameswaran 36.OP Bhaat 37.Indranil Chakraborty 38.Tarun Khanna 39. Ramachandra Guha 40. Stewart Friedman 41. Rich Fernandez 42. Falguni Nayar 43. Rajat Gupta 44. Kartik Hosanagar 45. Michael Watkins 46. Matt Dixon 47. Herminia Ibarra 48. Paddy Upton 49. Tasha Eurich 50. Alan Eagle 51. Sudhir Sitapati 52. James Clear 53. Lynda Gratton 54. Jennifer Petriglieri. 55. Matthew Walker 56. Raj Raghunathan 57. Jennifer Garvey Berger 58. BJ Fogg 59. R Gopolakrishnan 60. Sir Andrew Likierman. 61. Atul Khatri 62. Whitney Jonson 63. Venkat Krishnan 64. Marshall Goldsmith 65. Ashish Dhawan 66. Vinay Sitapati 67. Ashley Whillans 68. Tenzin Priyadarshi 69. Ramesh Srinivasan 70. Bruce Feiler 71. Sanjeev Aggarwal and T. N. Hari 72. Bill Carr 73. Jennifer Wetzler 74. Sally Helgesen 75. Dan Cable 76. Tom Vanderbilt 77. Darleen DeRosa 78. Amy Edmondson DISCLAIMER All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

NUGGET CONTEXT Katy speaks about the magnitude of change that one can typically hope to undertake. She refers to the example of Ben Franklin who decides to make a fresh start after a phase of debauchery. He goes on to make a list of 13 virtues and starts tracking himself on those. Katy shares her perspective around how much to take on in a change initiative. GUEST Katy Milkman is the James G. Dinan Professor at The Wharton School of the University of Pennsylvania and holds a secondary appointment at Penn's Perelman School of Medicine. Her research explores ways that insights from economics and psychology can be harnessed to change consequential behaviors for good, such as savings, exercise, vaccination take-up and discrimination. She has also recently authored the Book - How to Change - The Science of Getting from Where You Are to Where You Want to Be.  In 2018, she began hosting Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making.  Published in September 2021.  HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. 32.Deepa Malik 33.Bombay Jayashri. 34.Arun Maira 35.Ambi Parameswaran 36.OP Bhaat 37.Indranil Chakraborty 38.Tarun Khanna 39. Ramachandra Guha 40. Stewart Friedman 41. Rich Fernandez 42. Falguni Nayar 43. Rajat Gupta 44. Kartik Hosanagar 45. Michael Watkins 46. Matt Dixon 47. Herminia Ibarra 48. Paddy Upton 49. Tasha Eurich 50. Alan Eagle 51. Sudhir Sitapati 52. James Clear 53. Lynda Gratton 54. Jennifer Petriglieri. 55. Matthew Walker 56. Raj Raghunathan 57. Jennifer Garvey Berger 58. BJ Fogg 59. R Gopolakrishnan 60. Sir Andrew Likierman. 61. Atul Khatri 62. Whitney Jonson 63. Venkat Krishnan 64. Marshall Goldsmith 65. Ashish Dhawan 66. Vinay Sitapati 67. Ashley Whillans 68. Tenzin Priyadarshi 69. Ramesh Srinivasan 70. Bruce Feiler 71. Sanjeev Aggarwal and T. N. Hari 72. Bill Carr 73. Jennifer Wetzler 74. Sally Helgesen 75. Dan Cable 76. Tom Vanderbilt 77. Darleen DeRosa 78. Amy Edmondson DISCLAIMER All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

On today's episode of Awake & On Purpose Podcast, Jennifer speaks with Stephanie Raffelock about empowering women to stand in the power of their feminine strengths, especially as we age. They discuss changes to female leadership, especially in corporate America, visibility and representation of aging women in the media, recent events in feminist history, labels put on women by ourselves and society, and so much more in today's empowering, inspiring episode! We hold the word power differently than the men hold the word power. Men have power over something or over someone. There's that kind of warrior archetype mentality. And women have a different kind of power that is quieter, that comes from self confidence, but is nonetheless as strong as pushing your way through something. Stephanie Raffelock Stephanie Raffelock is the author of Creatrix Rising, Unlocking the Power of Midlife Women, (She Writes Press – August, 2021). She penned the award winning book, A Delightful Little Book on Aging. A graduate of Naropa University's program in Writing and Poetics, Stephanie was a contributor to The Rogue Valley Messenger in Oregon, and has blogged for Nexus Magazine, Omaha Lifestyles, Care2.com, as well as SixtyandMe.com. She's a former i-Heart Radio host, and now a popular guest on podcasts, where she inspires women to embrace the strength and passion of their personal story. Stephanie is building her speaker's resume by giving presentations for groups like The Ashland Literary Arts Festival, WINS at Charles Schwab and Southern Oregon University, Friends of the Hannon Library. A recent transplant to Austin, Texas she enjoys an active life with her husband, Dean, and their Labrador retriever, Mickey Mantel. If you'd like to connect with Stephanie, you can find her book at https://www.amazon.com/dp/164742318X/ or visit her at http://www.byline-stephanie.com/ To learn more about how you can achieve a fulfilled life, live your purpose and make an impact as a mission-driven leader, visit us at https://jenniferspor.com, and while you're there be sure to join Awake & On Purpose: The Community to connect, collaborate, and grow in business and life with others who are like-minded! PS – did you enjoy today's episode? Be sure to like, leave a comment, and subscribe for more!

Katy Milkman is a professor at the Wharton School of the University of Pennsylvania and the host of Charles Schwab's popular behavioral economics podcast Choiceology. She is the co-founder and co-director of the Behavior Change for Good Initiative, a research center whose mission is to advance the science of lasting behavioral change.Her new book, How to Change: The Science of Getting from Where You Are to Where You Want to Be, is a best-seller that describes the little things you can do to make a big difference in your life.Some of the things Katy shares are her favorite research studies about how to make good habits stick, the critical steps you should take to eliminate a bad habit, and how to set yourself up for success. 

Maggie Gomez is a Certified Financial Planner who's worked for Charles Schwab, Morgan Stanley, and E*Trade. After realizing only wealthy individuals had access to quality financial advice, she left to create her own company, “Money with Maggie,” where you can receive help regardless of your net worth. She's created over 100 finance and investing videos on her YouTube channel, offers 1:1 sessions, and has a course to help beginners get invested with confidence. Maggie's goal is to make it easier for people to start investing sooner. Learn more about Maggie Gomez at MoneyWithMaggie.com, and be sure to download her free guide: 4 Steps to Start Investing!  Also, you can follow Maggie on Instagram and YouTube.  And join her free Facebook group: Start Investing Today.

Today's F-Bomb discusses the following: -Life is more about reactions than actions -House Ways and Means Committee Tax Proposal -Schwab caught on their deception -Ephesians 4:2 -John's NFL week 1 takeaways -All time highs...so what!? -Ray Dalio can't figure it out so why can you or I? -8.3% increase on consumer goods from August-August -International valuations relative to US have never been more attractive Sources: WSJ, Charles Schwab, Investment News, USA Today, Forbes, Vanguard

After a long stretch of inaction, things are busy in Washington as deadlines approach for funding the government for the next fiscal year and raising the debt ceiling. Mike Townsend dives into each of the issues and considers the likelihood of either a government shutdown or worse—the U.S. defaulting on its debts should Congress fail to act. He also looks at the two key spending issues that Congress is facing, the bipartisan infrastructure bill and the Democrats' framework for a $3.5 trillion spending package, including the proposed tax changes within the plan that are designed to offset the spending. Mike offers his thoughts on the timing and likely outcome for all four of these issues. Finally, he updates what's happening at the SEC and its efforts to address the “gamification” of securities trading.WashingtonWise Investor is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/WashingtonWise.If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts. Important Disclosures:The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Investing involves risk, including loss of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.(0921-1SN9)

When young children imagine their future lives, they're often very optimistic. They'll say things like “I'm going to be an astronaut!” or “When I grow up, I want to be a movie star!” These outcomes are, of course, quite rare. Most children will grow into slightly less exotic careers as adults. But even as adults, we tend toward personal optimism. We assume that we will outlive the average person, that we will remain in better health than the average person, and that our children will be above average in school or in sports. Of course, we can't all be above average.In this episode of Choiceology with Katy Milkman, we look at the mistakes we make when we assume we're less susceptible to failure or negative outcomes than are other people.World's Fairs are large scale events requiring an immense amount of planning and organization. And while there have been many memorable and successful fairs, there have also been many expensive failures. Robert Rydell tells the story of the 1926 Sesquicentennial International Exposition in Philadelphia. Organizers were certain that they could mount a spectacular event, one that would transform their city and burnish its reputation around the world. But international events, poor weather, local politics, and the death of one of the key planners would conspire to make this a fair to remember, for all the wrong reasons.Robert Rydell is a professor of American Studies at Montana State University and the author of All the World's a Fair: Visions of Empire at American International Expositions, 1876-1916.Next, Don Moore joins Katy to discuss the ways in which overconfidence, overplacement, and overprecision can cloud your judgement, even though it may make you feel better about yourself and your abilities.Don Moore is the Lorraine Tyson Mitchell Chair in Leadership and Communication at the UC Berkeley Haas School of Business and serves as Associate Dean for Academic Affairs. He is also the author of the book Perfectly Confident: How to Calibrate Your Decisions Wisely. Finally, Katy offers advice on using base rates to help offset over-optimism when it comes to planning events, starting a business, getting married, or renovating your home.Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.If you enjoy the show, please leave a ⭐⭐⭐⭐⭐  rating or review on Apple Podcasts.Important DisclosuresAll expressions of opinion are subject to change without notice in reaction to shifting market conditions.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.The book How to Change: The Science of Getting from Where You Are to Where You Want to Be is not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Charles Schwab & Co., Inc. (CS&Co.) has not reviewed the book and makes no representations about its content.(0921-1WH3)

There is a lot of information available to us through our POS systems that show us the numbers behind the business. Owners and managers read these numbers to get a sense of not only how the business is doing, but also to get an idea of where it needs to go and what decisions need to be made to make that happen. So it is quite important that we have a sensible way to approach and use the data so the conclusions we come to and actions we take benefit the business long term.  Today I am so pleased to be talking with Mark Calhoun and Jim Strarcev of PerfectCube! After they sold their financial technology business to Charles Schwab, Mark and Jim pivoted to the retail space by opening a gelato shop. They ultimately wanted to learn the retail business so they could create a better software solution for mom-and-pop stores and small franchises. The result is PerfectCube, an online platform that allows small retailers to easily track their performance and even forecast the near future. In the space of a few minutes, users can get a read on sales, inventory levels and other important metrics. PerfectCube can assess what hours of the day have the highest sales and which individual products sold fastest, not just today, but last week, last month and last year. Mark and Jim give a great work shop at Coffee Fest trade shows called -Real Number in Your Cafe- and today they are going to be discussing with us their path to retail, approach to the numbers, and how owners and operators should be managing the metrics to make the best choices for how they run their cafes.  We cover: From big data to gelato  Learning the key points of focus for retail Taking care of customers Looking at what was behind the data Short term thinking, long term damage  False positives and confirmation bias Iportance of easy visualization Metrics to pay attention to  Next steps to get and use data well Links: www.perfectcube.co PerfectCube on Facebook   Related episodes: 009 : How to Approach Data and Metrics w/ Simon Ouderkirk  170 : Why your Inventory Counts w/ Albert Amar and Pierre-Francois Rio of SwiftCount 172 : Why Tracking Performance is a Must! 184 : Making Great Business Decisions w/ Dave Stachowiak   Visit our amazing Sponsors! www.prima-coffee.com/keys www.pacficfoodservice.com www.coffeefest.com    

https://www.facebook.com/groups/aliferedesigned (Join the Facebook Group! ) Get Stephanie's book - https://amzn.to/3BKOJtJ (Creatrix Rising Unlocking the Power of Midlife Women) Stephanie Raffelock is the author of Creatrix Rising, Unlocking the Power of Midlife Women, which will be released by She Writes Press in August of 2021. She's also penned the award-winning book, A Delightful Little Book on Aging. A graduate of Naropa University's program in Writing and Poetics, Stephanie has worked as a freelancer for The Aspen Times and The Rogue Valley Messenger. She's written and blogged for Nexus Magazine, Omaha Lifestyles, Care2.com and SixtyandMe.com, to name a few. A former podcaster and i-Heart Radio host, she is now a popular guest on other people's podcasts, where she shares her passion for aging, women, and feminist history. She's building her speaker's resume by giving presentations for groups like Breaking the Glass and WINS at Charles Schwab. Her commitment for working with women extends to teaching personal development classes for the non-profit, Dress for Success. A recent transplant to Austin, Texas Stephanie enjoys an active life with her husband, Dean and their Labrador retriever. Email: stephanie.raffelock@gmail.com Phone: (720) 217-8090 Website: http://www.byline-stephanie.com/ (www.Byline-Stephanie.com) LinkedIn: https://www.linkedin.com/in/stephanie-raffelock-01b53936/ (https://www.linkedin.com/in/stephanie-raffelock-01b53936/) Twitter: SRaffelock Facebook: https://www.facebook.com/StephanieRaffelock/ (https://www.facebook.com/StephanieRaffelock/) Instagram:     http://www.instagram.com/byline.stephanie (www.Instagram.com/byline.stephanie) Support this podcast

EP274 - Warby Parker and AllBirds IPOs  Warby Parker and AllBirds filed their S-1 registrations with the SEC in preparation of making an initial public offering. In this episode we deep dive into all the information revealed in the fillings. Surprising Learnings From Warby Parker And AllBirds IPO Filings (forbes.com) Episode 274 of the Jason & Scot show was recorded on Wednesday September 1st, 2021. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:24] Welcome to the Jason and Scot show this is episode 274 being recorded on Wednesday September first 2021 I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scott Wingo. Scot: [0:40] Hey Jason and welcome back Jason and Scot show listeners Jason we have a lot of favorite things on this podcast but you know it's even cooler than some fresh Amazon quarterly results hot new Gadget. Even some exciting Star Wars news. Jason: [0:55] No what's God. Scot: [0:57] A fresh delicious hot out of the oven S1 and you know it's better than S1. Jason: [1:02] I'm guessing to S ones. Scot: [1:04] You are right that is right we have we're very excited this week because not only do we have one s one but we have two s ones so I don't know if that's an S 1 squared or S2 or how we talked about that I guess 2's ones, and what's really exciting is one of our favorite topics on the show is digitally native vertical brands also called dnv B's and we have two of them that filed within a week of each other so that's pretty exciting so the two are Warby Parker and allbirds and before we do a deep dive into those S ones and highlight some of the things that we found that were interesting for listeners I wanted to give everyone just kind of a reminder of a great way to read an s-1, so an s-1 is. [1:52] Haven't haven't done a gone public before it's kind of like a sandwich so you have three parts you have this kind of first part where there's all this introductory stuff and you're kind of like CIA in that part and then you get into the delicious sandwich part of the the meat and potatoes of this one which is commonly called management discussion and Analysis they called em DNA and that's the best part because really management actually writes that now they have a lot of guidance from lawyers and investment bankers and PR firm in all this Jazz but it's really most of the times it is the founders you know putting pen to paper and describing the business and their words then after that you have the lawyers kick in and then you have a pretty good chunk of risk factors and then the accountants kick in and you've got your your your Gap financials and all that stuff and all that's interesting but if you're going to I always start a nest one from the middle out so I like to read that mdna first because it's the best way to hear about the company from the founders. [2:54] Now Warren Buffett and his Charlie Munger they always kind of famously start at the back of this one and they like to start at the audited financials and that's kind of how they look at a business and that's important but especially for these I think it's pretty interesting because you know it tells us why the founders do this dnv be thing how's it going how do they think about their business what are the key metrics they're looking at inside of there and I think that's particularly relevant for listeners of this show because you can learn a lot you know these businesses may be there ahead of you or behind you and your scale but it I always learned a ton about. [3:34] You know what other operators are doing and thinking about their business and you pick up a lot of interesting new tidbits there may be things you like and don't like that you can add to your repertoire. Jason how do you how do you peel into a delicious yummy new S1. Jason: [3:49] Yeah well I mostly take your advice that I guess to two alternative views is just skip the s-1 entirely and wait for the retail Roadshow and so you can kind of watch a movie instead of have to do all this math and read. Scot: [4:02] Yeah I like the retail Roadshow too but sadly it comes weeks after this one so this one is like an appetizer before you get to the movie. Jason: [4:10] Yeah and II may be uniquely odd in this regard but I do find it amusing and humorous to read the risk factors. I know they have nothing to do with the business and weren't written by anyone that has anything to do with the business but I feel like. They're increasingly more creative in the voluminous wig west of apocalypses that could. Could strike the Earth and I want to say like of the hundred seventy one page Warby Parker S1 about a hundred pages of it is the risk factors. Scot: [4:42] Yeah, yeah and I mean it is fun to read but you're taking the right approach at it what drives me crazy is actually went through and looked at a bunch of the headlines for both these companies and I would say about 1/3 to 25 percent of the. Press that covers you things you know to be and I don't know if this is just lack of understanding or clickbait or some combination of those things but they always pull out the risk factors so you'll see you know allbirds is worried about Nike as a competitor and you know and then you're like what did they read about that and they've just pulled out a the competitor list of the risk factors well the lawyers are saying you know if anyone has ever sold a shoe put them in the risk factors you know it's not like it's not like the founders in their own words are staying up late at night worried about Nike but maybe they are but. Most of that stuff is not the founders words it's lawyers kind of saying you know here's a checklist list everyone that you've ever think you thought you've competed with now that's their guidance. Jason: [5:42] Yeah I mean the list of competitors isn't remotely shocking it's more of the zombie apocalypse that makes me chuckle. Scot: [5:48] Yeah and now there's all these, yes every time new legislation comes out you have to add a risk factors know it's like you know GDP our cyber security we use cloud computing that could go down we it's kind of like you have to think of everything that's ever happened and you want to cover it so that if you do get sued you can say well it was a risk factor you should have known we warned you. Cool so we flipped a coin and you are going to kick us off with a deep dive into or be. Jason: [6:21] Yeah yeah so we'll jump right into it and we'll start with some of the financial metrics per your point is pretty interesting because these are. Private companies they don't necessarily disclose a lot of this and so you kind of go from like a pretty vague view of these companies to a pretty detailed View and if you're some other DMV be that still private like there's great benchmarking data in here so Warby Parker. [6:48] 20/20 in this is all complicated because of course 2020 was an anomalous year 2020 revenue for Warby Parker was just under 400 million in sales so 393 million and kind of to give you a progression they were 272 million in 2018 then they jumped up, 370 million in 2019 and then you know a much smaller jump up to three hundred and ninety-three million in 2020. The more eye-popping number is they have six months of data from 20 21 and they're already at 270 million in 2021 so if you kind of compare first six months of this year to first six months of last year. Last year there were 176 million this year there are 270 so they're definitely seeing a nice clip of growth. And obviously as you grow bigger you would hope that that scale would help you with profitability when you're you know small and still you know in growth mode it's sometimes hard to make a profit, and in this case. It doesn't appear like they've achieved that escape velocity where they're starting to turn a profit yet like the gross margins are. [8:00] Are in a reasonable ballpark they're pretty consistent in the kind of 658 to 60% range and so they are generating. Net positive ebit has but they basically have had a net loss every year except 2019 when they broke even. So what's a little worrisome about that is. [8:26] You know you like if you look at 2018 you said hey they sold 270 million and they lost 22 million on it in 2019 they sold 370 million and they broke even. Like that's looking like a pretty good Trend that scale starting to help them with their profitability but then in 2020 where they had a lot of extra costs from covid and as we'll talk about in a bit they're somewhat store. They were even bigger 393 and they had their biggest loss ever 55 million, and they're doing better this year but they're not on a path to profitability this year either so they're the on the 270 million they've sold this year they've lost 7.3 million. Um before I jump further does any of that financial news sort of surprise you at all Scott or does that. Scot: [9:17] Now I have a different opinion but well we're going to do a little kind of analysis again. Jason: [9:22] I like it cliffhanger. Scot: [9:23] Yeah yeah. Jason: [9:24] So one of the interesting things well a all these digital native Brands you start off by like generating some buzz and selling some stuff to people that are already friendly to you and it's super easy sales and and cost to get those sales is very low but then pretty quickly all these companies go into digital advertising mode and they buy ads on Google and buy ads on. [9:47] To grow quickly and the first ads they buy a relatively cheap because, that they can you know Target a very specific audience and there aren't a lot of other people buying that exact same audience so the, the cost per ad is low and so the the customer acquisition cost can be pretty reasonable but as you get bigger. [10:06] You have to buy a bigger chunk of audience from Facebook and more people are competing for that same audience and it's a reverse auction so you have to pay the most to get the ad and so growing purely on this digital ad business. Pretty challenging particularly when Google and Facebook are so good at optimizing the the the maximum cost per ad and so. For almost every DMV be we've ever talked about they they have trouble scaling and they almost always Implement some new tactics later in their evolution to kind of scale beyond the digital ad phase and so in war Beast Partners case they were one of the first retailers to say, the MVPs to say hey we need to open a bunch of stores and stores can be really profitable billboard to help dramatically improve our customer acquisition costs so by 2018 they already had 88 stores, and right now they have a hundred and twenty-six or a hundred forty five stores so so they have a reasonable Fleet of stores that has grown pretty pretty quickly. Obviously there's a lot of extra costs for running those stores and obviously those stores didn't do particularly well in covid. [11:21] So some of the interesting things about the stores is that like in 2018 sixty percent of the revenue came from e-commerce forty percent of the revenue came from retail about the same in 2019 but as they jumped up there store counts and 2020 that. So in 2020 sixty percent of the revenue came from these retail stores 40 percent came from ecom's so the store is really are becoming the primary acquisition Channel. It's super interesting to look at the. [11:54] The unit economics of a customer how expensive it is to acquire a customer how much money they make on each customer has sticky each customer is and different s ones you know give, different granularity in case of Ori Parker they reported a customer acquisition cost so they said that in 2018 they spent $26 per customer to acquire customers. In 2019 they said they spent $27 to acquire customers and in 2020 and the pandemic influenced year they had to spend more they spent $40 per customer to acquire customers now put a big Asterix on that there's some controversy will get to in a minute but. If you take those numbers on face value those are pretty darn good customer acquisition cost for this kind of business other. [12:42] Kind of did you a native vertical brands that have have done it s one have disclosed some kind of eye-watering Lee expensive customer acquisition costs and so famously like Blue Apron was paying $400 a customer to acquire customers so so even $40 a customer it's pretty reasonable to kind of put that in perspective in 2020 they were getting about 218 dollars in sales per customer which is a little over two orders, um so the the the unit economics are potentially viable. Except for that sgna line and all the expensive advertising that they're having to do which is ultimately driving that those those net losses. So those were kind of my big. [13:31] Takeaways and I alluded to a controversy friend of the show and former guests Dan McCarthy who's a assistant professor Emery and one of the true gurus and in clv um he looked at this as one and at first he was like wow that's a really good customer acquisition cost they should be commended and then he like started reading the fine print and they've used a novel definition of customer acquisition costs they've divided all of their expenses by all of their customers and. About sixty percent of their customers are returning customers so in theory. You shouldn't be dividing all of your digital marketing by your total number of active customers you should be dividing it by the new active customers and that's kind of the traditional definition that Dan and most of the rest of the world use we don't know what that number is for Warby but it's probably a lot higher than the. Forty dollars that would be disclosed based on this kind of unique definition of customer acquisition costs. Scot: [14:39] They did they kind of elaborate on that or. Jason: [14:44] No they didn't at all. Scot: [14:45] And easier he just kind of picked it apart and like there was no. Jason: [14:48] Yeah like they like there's not enough data in the s-1 to try to estimate a. Revised customer acquisition cost now what Dan has done in the past is he's gone a hold of credit card panel data. And kind of backed into like customer acquisition cost by looking at the the. The spend from you know the from customers I haven't you know I don't know that he's done that analysis yet for these guys are the even has access to the data to try but. Yeah so at the moment we don't know what their khakis I have to be honest you like even if. You you kind of like double it because you say like oh they should have only been chart you know counting all these costs against the 40% new customers and not against the hundred percent active customers. You're still at like 80 dollars which is expensive you you can't make money spending $80 for a customer that you only sell $180 to. It's still better than a lot of these other companies that we've looked at. Scot: [15:58] The worse is Casper were the cactus a good couple hundred dollars higher than the mattress. Jason: [16:04] Yeah and I would say. Like these guys have about the most mature store model of any of these companies like Casper's up there too but the next company will talk about allbirds has a lot less stores so, you know if the opening your own stores is the way to lower kak then you would expect to see it in Warby Parker's S1. And my my takeaway from this is. Either you have to get to a much bigger and you're going to say something in a minute that potentially disagrees but either where we Partners hypothesis is you have to get to a much bigger number to get profitable. And so maybe you know instead of one or million run rate I need a billion dollar run rate. Or you need an alternative customer acquisition strategy beyond your own stores and digital ads which are the two tools warble uses and I would also argue where B is. About as good as it gets at sort of organic demand generation and they do they do great like social they do gritty like they do all the other guerrilla marketing tactics so like. [17:15] Um I would you know if they're not profitable on 390 million with their type of product it seems hard to imagine that someone else with the same type of product. Is going to do much better because they seem like a externally they seem like a darn good execute. Scot: [17:37] Yeah isn't in the die where category is dominated by the luxacore Oslo Exotica and they own like everything right so they do they have you know they have a licensed almost every frame like. Jason: [17:50] Yeah almost every designer brand you've ever heard of is a is actually like license to Exotica. Scot: [17:58] Yeah then they own the. Jason: [18:00] And they own a bunch of the chains of retail stores. But they also do wholesale so Exotica like both sell all those license frames to the third parties. And they sell through their own stores, and they sell at a way higher price point than Warby Parker so they have way more margin like you know part of the premise of Warby Parker is the eyewear should be affordable so their average per glasses is $95 whereas. Like that the aov firm exotic is going to be much higher. Scot: [18:33] Yeah I do I'm not a customer but I knew I do know people that are and they do tend to buy more I've heard him say is anecdotal but I've heard him say especially women they'll say you know the prices are low enough I can buy a two or three different pairs that kind of they almost become accessories at that just kind of interesting. Jason: [18:48] So that's what I was hoping to see right like you go man I've been part of a frame cost $500 I can't own that many frames but if they cost a hundred dollars I might have different ones for different outfits right or. Right and so yeah like. Could their average order value be much higher but on average they're only selling 2.14 pair of frames per customer. So they're like again frame is $95 their average revenue per orders $184. Um so they're not necessarily like seeing a huge kit I'm sure their customers like you describe but they're not there are apparently are not enough of those customers that that's. [19:28] Change dramatically changing the economics also where we park our his kind of expanded to be a vision care company rather than just eyeglasses so they launched contacts they have optometrist services in all the stores and you might go oh wow I wonder how those things are contributing and at the moment / this one they're not, like the the all the non glasses products cumulatively are about one percent of Revenue and all the Professional Services are one percent of Revenue so these the the eyeglasses are 98% of their business now maybe that means there's a lot more growth there. [20:05] But like my so my overall take away. These numbers did not surprise me in terms of Revenue it was about exactly where I would have expected I wasn't sure they would be profitable by now it wouldn't have surprised me if they were so it's a little concerning to me. That they're that they're not. Again if a ton of this loss in 2020 is because of the pandemic and they really did break even on 370 and if they find a way to end up profitable in 2021. Um I'm their biggest Revenue year ever then you know that that probably looks pretty good but I can tell you a ton of people were shocked by these numbers a ton of people thought Warby Parker was much bigger a lot of people were speculating that they were near or over a billion dollars in annual sales which I did not view is very likely and so I think this is kind of a. [21:01] Glass of cold water in the face of a lot of the DMV be Fanboys and d2c Fanboys that like these guys are, are basically the poster child for that whole segment and they're better than most of the other ones and you know even they do not have. Home run financials and so you know frankly like this this bodes poorly for the financials of a lot of other like apparel DMV bees that we haven't seen yet. Scot: [21:33] Well I guess my seemingly controversial take is when. You know when you talk to these investment bankers there's all of this data that indicates that you should really focus on growth and not profitability if you're if you're if you're in a category like this which you know the pitch is there's this new way to build a brand it's direct-to-consumer it's digitally native yeah we're having some stores so by focusing on ibadah you're essentially saying we were making profit and we, need this we don't have anything to spend it in essentially because it's just going to kind of move over to your balance sheet especially when do an IPO you're in a load of the balance sheet with presumably at least a hundred million maybe more so. When you when you look at the data especially at this scale it's much better to lose money or to not get profitable for years because. You want to pump all that into growth so every dollar you can drive into growth gets a much bigger multiple than a dollar that goes to the bottom line. [22:42] So yeah so that's that's why and then the other challenges once you're profitable. It's kind of hard to undo it the classic example is Amazon in our retail world you know how many times have you and I heard retailers complained that Amazon is a profitable this is when they weren't profitable today they are only say they're not profitable, eventually Amazon got to the point where they just couldn't not be profitable so but you know for a good kind of like, I don't know 20-year run their they weren't profitable so they were the extreme example of this and it gave them much more leverage over like a Walmart who had been printing ibadah never got used to it and got valued off eBay doc then you can't go in and say, there's a new disruptor and hey everyone we're going to we're going to stop being ibadah positive and growing even on we're going to focus on the top line to you know our spend. 500 billion on some fulfillment centers so it yeah I think it's appropriate and I'm sure you know the risk factors that's going to be probably one of the first ones is we. I don't plan to make money and we may never make money so yeah so I think it's actually. I would almost expecting to be losing more you know if I look at kind of 21 so a lot of these. [24:04] S ones they do a six-month view because they don't want to update it every quarter its kind of pain wdesk one while you're in process so they'll do it like a six-month you and I believe their six-month view was 270 million Revenue so that put them in a 540 anyone's is that what it was the okay. Yeah and then loss is 20 that's even a lost that loss of seven so losing 14 on that that's. Jason: [24:31] The well the even has our positive by the way the it's only the net loss that like so like they have they made 20 20 million ibadah on 270 million in sales in the first six months of this year so that's. Scot: [24:43] That must be the way you're some accounting the other thing that's really frustrating is a. Jason: [24:48] They have all sgna below that you badal line which is weird to me at least I don't like. Scot: [24:54] Yeah that is weird. Jason: [24:56] That's that's why you got from this yeah that's why you got get from this positive ebitda to this negative net loss. Scot: [25:06] Yeah this is one of the ways Amazon lost money for so long is they would capitalize the leases on now it's become an SEC rule I think this gets kind of the edge of my accounting knowledge. Jason: [25:16] Yeah and they didn't there was not like detailed disclosure about the real estate so I that is an interesting question how they finance these stores and do they own them and all that stuff but. Scot: [25:25] So I would almost say. As in a potential investor I'd rather get to a billion dollars faster and have a negative ebitda a light you know at a 500 million they had like a hundred million ebitda law side. I actually kind of think that's okay especially if they could grow faster. Jason: [25:44] Yeah and so I'll just say I generally agree with you and I certainly get the argument about profitability the the bigger concern for me is there an 11 year old company that's executed about as well as you can execute done all the things that the talking headset are smart to do and they only got two with a super compelling value proposition and very high MPS scores and they still only got to 390 million so I like my biggest cautionary take away from this whole thing is it's way harder to get to a billion dollars then people realize and none of these companies have done it not one have them have gotten to a billion dollars in run rate unless you call like white cloth digitally native vertical brand. So I do think scaling is hard and if it's hard for these guys it's going to be a heck of a lot harder for these why you know companies that want to be super Capital light and not have stores and and all of those things and I well I. Don't over worry about the profitability I will tell you the unit economics are mildly concerning their making a custom product like they have to you know make those lenses for each customer and if they're having to spend $80 to acquire a customer that only half their customers are buying a second time they're only getting a hundred and or 218 dollars in revenue from each customer and they have to make a custom product in that it just like. [27:13] I'm not saying they can't get to profitability at a billion dollars but it's. It doesn't look like a home run business I could it still could be a good investment right and I mean as long as there's someone that's willing to pay more for your stock after you own it not saying the stock won't do well at all but it doesn't look like. A company that's likely to just you know generate like obscene free cash flow like Amazon does. Scot: [27:40] Yeah I bet if you looked at a kind of store cohort you'd be happier with the profitability and maybe that was something. Jason: [27:49] Yeah I would have loved to see that in this one and obviously they didn't put it in there. Scot: [27:53] Yeah you know and and yes so they must have been advised that the institutional investors aren't going to be that concerned that I think. I think they're actually close enough with the lines are the lines are converging so you know you can kind of see if you just kind of. Plot them out you can see they'll cross no get profitable because they're already been up positive So eventually they'll get to that net loss off when the lines are diverging like Lyft and Uber when they went public they had to spend a lot of time in there s one talking about well we know our lines are diverging but it's because we're if you take our cities that are over a year old they're very profitable and the reason our losses are growing faster than revenue is because we're opening city so fast and that's how investors got comfort in that example. Jason: [28:37] Yeah and their lines are diverging from 19 to 20 now they're going to say well but that's covid-19. Scot: [28:43] Yeah yeah that's project I could see that. Jason: [28:44] No I'm sure does yeah and especially again because stores. So Scott what did you learn from the allbirds S1. Scot: [28:56] Yeah allbirds was it was a good read I enjoyed it it was different you know so I kind of appreciate that having read a lot of these it was less dry of any S1 especially the mdna section was felt like the founders had definitely put their heart and soul into it I don't know if you do you listen to the podcast how I built this they. A really good episode on there and you know the thing another thing I appreciate about allbirds is there's consistency there every time you every time I hear one of the founders I go in a store have an online experience Packaging. They're very purposeful and brand message is very very tight in and until you try to do that it's hard to appreciate how hard it is to execute on that so, so I just really felt like that was interesting that even this one kind of landed on me as if you know the same vibe that I got from the store and the product and everything so that was really cool and kudos to them on that probably the most interesting thing about the allbirds S1 is they try to kind of tilt it and they say look we're not going to do an IPO we're going to do an S peo and what they're essentially doing is saying we want to elevate the discussion and talk a lot about sustainability and so they call it a sustainable public Equity offering and spe now I'll get into more of that but I wanted to go into some of the numbers first. [30:26] So on the number side there 2019 Revenue was a hundred ninety-three million and then in 2020 they did 219 million so so that's 13 percent year-over-year growth. [30:38] So that was interesting to me and then they it has accelerated from 20 22 21 looking at the six month period to 27 percent, they unfortunately there they've got a fair amount of international business you've got this kind of no Financial impact of currency conversion the FX is what they call it so do their 25 or 27 depend on depending on the currency situation but let's call it mid-20s and. So that's interesting so they've got accelerating Revenue growth which Wall Street loves to call that ARG ARG and then they broke out digital and said that it was 89 percent of their business and in 2020 that was a hundred ninety-four did you see that going down because part of their use of proceeds is opening a lot more stores they have 27 stores as of the IPO so June. [31:33] June 20 and then I've been 21 and then they have the pretty much say you know one of the we're going to open a lot more stores and it's gonna be a big push for us they also are losing money they're losing about 40 million a year so kind of twenty percent of Revenue is being lost which kind of feels you're going to lose money you might as well lose you know twenty Thirty forty percent of of Revenue to accelerate so that felt more in line with kind of what I've seen is public-private kind of vc-backed company coming into the public markets couple highlights on the other metrics they talk a lot about how their nudging gross margins up they in 2018 gross margins were at 47% and then moving up to 51% and a good expansion there on the margin side that's pretty typical as you scale and you start to nail down with any kind of manufactured product there's definitely margin benefits of scale right because you're buying more pallets of wool I don't know what we'll comes in sheep's of wool and you're getting more you know your. Paying off your fulfillment centers and you're taking a lot of these fixed costs you just putting more stuff through them so on a unit basis it drives in Crete drives down your unit cost just driving up your gross margins. [33:00] They were they were much more silent on cackle TV than what you saw with Laura B and so some of the data they had was they try to repeat customers and that number has gone up and. 2019 it was 46 percent of their revenues from repeat customers and then that was up in twenty twenty two fifty three percent they last raised a hundred million on 1.7 billion and I'll come back to that and then let's see the biggest thing about their IPO I hinted at the top with this spe oh is there all about sustainability and it's pretty interesting because some people they just kind of throw that in there in the hopes that there's the public markets there are increasingly large number of either, purposely built vehicles for investors that want to focus on this area or. [33:55] There's a big investors that are moving this way one of the biggest public investors is called Black Rock and they run out, huge massive amount of capital most of it in mutual funds but I think they have some hedge funds and whatnot and their CEO is basically put a Line in the Sand and said by can't remember the year but let's call it 20 30 or something like that they are going to shed any investment it doesn't really have kind of a framework around sustainability and you know. What people uses This Acronym ESG so environmental social and governance in essentially everyone wants companies to to self report what they want to do across those three dimensions and even the SEC is started kind of hinting and recommending that companies that they're going to start doing some things here and requiring them in things like us ones and then, the thing that's really interesting in a public company that I didn't learn until I was kind of deep inside of one a lot of these mutual funds so you go public and you have this new set of shareholders that are largely got mutual funds you've got index funds and you've got hedge funds and then retail which would be individual people like buying to their Charles Schwab well the mutual funds in the index funds when you. [35:17] When every year you put out these different things that you want your shareholders to vote on well they they don't like to vote on those things they like to defer that to a third party and there's several of these third parties once called ISS and the other ones called, glass Lewis or something like that and these third parties therefore become very powerful because they aggregate a lot of the, you know because these decisions are referred to them they thus aggregate a lot of power from your shareholders and they are really starting to get where they are they're saying you know even that's going to be kind of the first Domino to fall I think where they're going to say hey the recommendations we make on your board and comp and all these things that they have to opine on to the, to to the shareholders that have Outsource that to them they're going to really focus in on ESG so so it's a big movement and there's a lot of even CNBC runs like a every other day segment on this topic because it's become such a big big deal and you know I actually think it's good I think you know you would as a as you know. [36:24] Public means transparency and I think companies should be transparent about this stuff and if if they say you know I don't know where we're a liquor company and we're not really focused on this that's fine or if they say we're all birds and this is going to be a huge differentiator for us that's fine too it just you know at least let potential shareholders know where you are on the spectrum of things okay so that's the background the. [36:51] So these guys say look we we think this is so important we want to put a stake in the ground and we've come up with 19 criteria that we hope we're going to be the first we're going to kind of self rate ourselves against these criteria and they fall against, cross effectively two categories for each of the es and the D environmental societal and governance so it's things like you know they want to be carbon neutral they're going to like an environmental they're going to favor vendors that that kind of have a similar carbon neutrality and sustainability mindset to them and on the governance side they're going to have more diversity on their board and those kinds of things. [37:31] One of the interesting things they do explicitly State and this caused a lot of noise on Wall Street is they when you go public you get all these people there's kind of this this literal they call it the book so let's say you're going to sell a hundred million worth of shares you do your Roadshow and then you typically end up with maybe a more orders than you have shares she'll get 300 million so one way to you have an allocation problem so one thing you can do is you can just cut everyone back to a third and you can say well you want to 10 million now we're give you three that's how you could Jam 300 million of demand into a hundred million dollar opportunity well these guys have said is we're actually going to your allocation is going to depend on where you are as an investor as it relates to ESG so essentially they're saying if you're like one of these companies like BlackRock that that is really kind of pushing the foundation there we may give you your full allocation but if you're this kind of hedge fund that doesn't really even have a website and no statement on this then you may get no allocation or a smaller size allocation so that was pretty interesting that's the first time that's been done and that that was kind of. [38:37] Pretty interesting on that so encountered an actually mentioned sustainability in the s-1 over 200 times which is it just shows how important it is to them and you know a lot of companies. Tried this out but allbirds was founded with this right the whole idea of allbirds was could you find sustainable products to make a shoe with and they started with the wool even the soul is made from a plant-based material, if it was obvious like she shows her something to remember what it is. Jason: [39:07] I Scot: [39:09] But it's not rubber it you know it's not a you know there's two types of rubber there is a plant-based rubber from a rubber tree but most rubber is obviously from a petroleum-based so the other thing I thought was interesting is the essentially layout they have five pillars essentially and they basically say hey here's our five pillars we're going to be product Innovative platform Purpose Driven brand with an inspired voice. [39:38] Connections with our repeat customers around the globe so so Global and repeat customers are important to them vertical retail distribution strategy robust infrastructure creating a platform for scale the sequence of those is pretty interesting because again the first one is product Innovation and then second one is purpose-driven and that's where they capture a lot of the ESG stuff. [40:00] The I thought for listeners this would be the most interesting one is vertical retail distribution strategies I just wanted to add one will highlight here are digitally LED vertical retail distribution strategy combines our digital offerings with our stores so we can meet customers where they are delivering value and convenience with our store serving as brand begins our company was born online from the outset we developed a direct convenient digital platform for our customers we opened our first store and 2017 have since been expanding yada yada so and then they wrap up and say in 20 as of June 30 we 20:21 we had the ability to reach up to 2.5 billion consumers in 35 countries across our digital and Retail platforms so I thought that was pretty interesting where they're basically saying this D and B, be thing even though we're at a relatively small scale we think it's still important part of our future and stores are really more of a brand, front face to the digital back and so I thought that was interesting, let's see that some data on repeat analysis but you know the. [41:10] Those are the highlights they that is really confusing table where people bought more than their repeat purchase rate went up. [41:19] I kind of get wrapped up in a chicken and egg thing there because like just by buying more haven't you already made your repeat purchase go up like I couldn't unpack that in my head but I need and up figure that one out for me look at a secret credit card data my analysis on this one so that those are the kind of highlights my analysis was this one was shockingly smaller than I would have thought you know I. I kind of backed in this because I had heard that valuation of 1.6 on their last they're kind of in this unicorn status here 1.6 billion in your like okay a lot of these Brands you look at kind of public comps you get 325 x as an e-commerce company so let's give them a generous valuation of 5x so they must be three or four hundred million and then. Turns out they're kind of in this lower 200 or 300 million scale so that was like well they must be growing at a crazy Pace because if you're going at a hundred percent then you can still get a really nice vault. A super-sized multiple like they must be that makes them hopefully even higher right so there like a times multiple but they're really not they were going 25% so it's kind of a bit of a head-scratcher for me and I'm really curious to see how the IPO does because I kind of assumed I'm not smarter than than all these investors have looked at this and put this price tag on it so I must be missing something so you know the things I think I may be missing. [42:43] You know there's there's a lot of talk they've partnered with Adidas and they're definitely going after the running category and so taking on Nike if you can build anything that's, no one 20th of a Nike that's a big brand so that could be people could be looking at this and seeing the optionality of that is this could be you know counter to Nike this ESG piece it could be that there is an supply-demand imbalance I think. [43:15] I think this is definitely the case where there's a lot more ESG aware dollars looking for places to invest than there are places to put them, so that could be a factor maybe there's some bullish bullishness on the store business where people have done models they say well if they're at, 25 stores and they go to 250 that's going to the growth is going to accelerate a tremendous base so you know I kind of swirl all those around and you know it is interesting so I then I kind of put myself and say well if I was going to be with Nike how would you go about them and Nike doesn't have a lot of weaknesses and yeah they're ten years ago you and I would have said while their weaknesses are not going direct to Consumers but they've largely fixed that right and you've got a lot of you've got a whole deck on that that's excellent so that's not a weakness anymore and but you know Nikes weakness is could be there is a, you know and I don't know any facts on this it's just there's a lot of noise out there right that there's these Chinese labor camps that their products are made in and these sweatshops and children making the shoes and then certainly so there's there's kind of that that they're kind of unclean sourcing if you will. [44:32] People claiming it I have no idea what's going on there and then you know there is an argument to be made that Nike to my knowledge hasn't done a lot to say wow our products are sustainable in these ways is just really isn't their thing so so it is a clever way to attack Nike and maybe it's actually a combination of all these things that investors see and they say we think this is a pretty clever way to attack Nike they're going to get some market share because we think it's important to Consumers it's important to us and they kind of scroll all that together and that's why it gets the bigger multiple so I may be curious to see how the IPO does to see if, that multiple holds up or in a there's definitely something going on there or maybe it was just an anomaly in the private Market. Jason: [45:20] Yeah and in both cases like the. The economics of the IPO aren't really revealed yet right like we're a ways away from from like Target prices and like understanding what the valuation is going to be for the IPO. Scot: [45:37] Yeah yeah you know these guys that could have effectively a Down Round where they essentially say hey we want. Jason: [45:42] Both have raised a lot of money at some like reasonably High valuations. Scot: [45:48] Yeah and you know they probably wouldn't be going public if the bankers weren't telling them they're going to get. Yeah I really nice mark up unless there was some desperation reason and I just don't they're not burning enough Capital that I don't think the existing investors couldn't sustain them for years so so mi bat is the bankers think that they're going to do really well and we'll see a big pop so it will say. Jason: [46:18] Yeah well if you think so a I would say like one of the things that encouraging so a one thing a few things to remember that are different between these two companies is allbirds is much younger than Warby Parker so I want to say Orbeez like 11 years old allbirds is like 5 years old so there earlier in their evolution that 27 stores versus a hundred forty five stores and that's a. A huge difference because a big expense in having stores is advertising to get people to your stores and you know. Beyond the digital advertising which is very expensive per customer like traditional advertising is much less expensive but you have to buy traditional advertising. Based on a metro area and when you only have 27 stores it means basically you're buying an ad to that getting amortized for a single store whereas when you have a hundred and forty-five stores you can have six stores in a a big Metro and that same ad is driving customers to six doors so my first thing I would say is. It seems like they're committed to a store strategy but they're early in the face like they could get an ice pop as they open more stores because all of the marketing and advertising that they're already doing spending money on, will work much harder when they get to a little bigger feet of stores and the. There are economies and scale of running a fleet of stores versus at 27 stores they're probably pretty inefficient. Scot: [47:48] Yeah they talked about how they've had they've invested in some distribution centers into the store so they're probably over distribution Centered for you know 25 stores. Jason: [47:58] So I do think the stores thing is encouraging, um I always am uncomfortable on the whole Purpose Driven thing so because I guess I'm going to mines and you didn't mention it but I think one of the novel things about them is they're one of the first companies to go public that's a certified B Corporation. Scot: [48:16] There's several others so there's that brand for girls nothing to you. Jason: [48:28] Okay well it's I mean regardless a hundred percent think as a marketing tactic that you're a hundred percent right like there is a cohort of customers that really care about a variety of these different missions and Nike doesn't particularly appeal to a lot of them right and so. Kind of providing a viable alternative you know is certainly a way to win a segment I do think. They're very credible like they've been talking about this this sustainability purpose since the very beginning they've invested in it the shoe is more expensive to make because of some of the sustainability choices that they've made so it's not just kind of. [49:12] Ecology washing on top of a you know a greedy brand and like I think their claim in their in their last one is that the the shoe has a like 30% less. Less ecological footprint than a traditional shoe and I think traditional she was code named for Nike by the way. So so I do think they are they are credible in their Purpose Driven thing and there's a. At the moment there are all these surveys of consumers that o gen Z is way more purpose-driven and and way more so than older cohorts they say that you know they really care about a brand that aligns with their goals and they care about the ecological issues and ethical issues in all of these different things and it feels like Auburn's is well positioned to cater to those customers so superficially you go oh nice it's a. It's a growing favorable Trend in there a strong executor at it and I think some of that is legitimate. [50:16] But in the back of my head there's this this famous academic paper from like 8 years ago called the myth of the ethical consumer and basically all young consumers have always said in surveys that they care about these various missions but when you look at their spending habits, there their convictions are a lot less strong than their stated preferences are and so I do I worry. [50:43] About completely hanging my hat on consumers doing the right thing when they're there. [50:50] Happily buying a lot of Nikes obviously I did also think it's interesting. Obviously the unit economics are wildly different than Warby Parker because of the nature of the product but they have 3.3 million us consumers worry Parker has two million consumers despite the fact where we Partners got this way bigger Fleet of stores and has been marketing for six more years so, so they are getting decent reach, both companies disclose their MPS scores their net promoter score and and they're both astronomically high and allbirds is even higher than Warby Parker so they. They're making their customers happy. They're doing well the one thing that jumped out at me as a opportunity is for allbirds that would be harder for worry Parker is. Okay you start out purely online and you're growing through digital ads and then you start opening stores and you invest a bunch in opening your own stores what other levers could you pull if you need to get your customer acquisition cost down. And it's not obvious to me what the big ones are for for Warby Parker, a play that some similar companies to allbirds have run is expanding in a wholesale once once they sort of reach a plateau and allbirds absolutely could do that as well and so it again my takeaway from both of these companies is. [52:17] Scaling is way harder than the the Twitter DTC Universe realizes they all want to imagine these companies are much bigger than they are because they've raised a bunch of money. It turns out raising a bunch of money doesn't equal winning a bunch of customers not saying these two companies can't be wildly successful in win a bunch of customers, I'm just saying it's really hard it's a huge competitive advantage to be a big company that already has a bunch of customers. And it's hard to start a new brand from scratch and catch up and these both of these are examples of that and it's going to be really interesting as they keep trying to grow to see what. What new things they try to accelerate that growth. Scot: [52:59] Yeah absolutely and I was curious I just looked it up allbirds is an 86 net promoter score and War B's latest measure is 83. Jason: [53:08] And those are both astronomical and side note there's some controversy about how people measure it in the inventors of the metric. Our kind of annoyed with how everyone's misusing it so it's not guaranteed that that's perfectly Apples to Apples but. That those numbers kind of fit with the consumer sentiment that I've experienced for both brands. Scot: [53:32] Yeah yeah we do a whole show on the purity of net promoter score. Jason: [53:37] That would be awesome. Scot: [53:40] But that in with some attribution man that's a party right there. Go well it wouldn't be a Jason and Scot show if we didn't have a little bit of. Jason: [53:52] Amazon news new your margin is there opportunity. Scot: [54:04] That's right we got a couple in lausanne news items the one I wanted to chat with you Jason is, Amazon announced they are partnering with buy now pay later firm a firm so that was an interesting one did that take you by surprise. Jason: [54:21] It did it totally did not it didn't surprise me at all that they're getting into buy now pay later it's a huge trend. In a way like I knew they didn't have one but it kind of when I heard it read it and I said it to myself out loud I was cut it's kind of shocking. That they're just now adding it now they have dabbled in the past. With with much earlier iterations of these sort of installment plans but what totally took me by surprise is that they chose a firm like a a firm is working with a lot of. Direct Amazon competitors that aren't going to be happy about this I'm thinking of for example Walmart. And so I'll be curious to see how that flushes out and have a firm can successfully keep both of those clients happy that would be impressive and frankly there's just so much money to be made in this space and an Amazon scale I'm somewhat surprised that they didn't do it themselves. Scot: [55:14] Yeah that shocked me to the thing is I've been digging into these being the combi and pills and it's really interesting so if you look at a firm karna and a bunch of these, you know what they're finding is the under 30 year old consumer, doesn't like the way credit card debt Works where you have this pool of you know that you can pull down and then it accumulates they much prefer to match it with a purchase and pay off the purchase and it's really interesting to read about that and then the the both the firms in there s ones they have a lot of data around us and increasingly even after they've gone public there's more data coming out about this trend so I was I was thinking. You know why Amazon has they if you're a seller though and you money you know they've got their own credit card there's got to be like. What is the larger Banks kind of effectively inside of Amazon that doesn't really Market itself as a bank because it doesn't want to be regulated like a bank maybe that's part of what. Triggers them not doing it. Jason: [56:16] Dress fear about yeah Fair. Scot: [56:18] Yeah there's any trust thing but it is funny you know we've been at this long enough I remember. I'm old enough to remember there was this startup called bill me later and they came on the scene and Amazon used it and you know loved it and was actually giving them quotes that conversions were up 20 percent and then eBay bot eBay / PayPal but Bill Me Later and Amazon ripped them off the site the next night it was controversial and we're all like holy cow I can't you know I think we're all shocked how quickly Amazon turned that off after seeing his praises so it is kind of funny to watch now Amazon jump back into it you know probably been 15 years at this point back into it and partner up with the firm so I almost kind of wondered if. Maybe there was an investment phase but also doesn't Shopify own a chunk of a firm like there's an alliance there too which is another it's unlike Amazon to lay down you kind of have connections into. Competitors even one degree away with a firm in the Middle With both Walmart and Shopify it all. Jason: [57:22] And there is Juicy data at play in this service so it is it is interesting. Scot: [57:28] Yeah days was famously he wouldn't ever he really didn't want to buy any Google ads because he didn't want them to see what they're up to. Jason: [57:36] No I mean part of me would almost suspect that Amazon is like trying to learn on a firm and that it wouldn't be a long-term deal but I entirely speculation. Scot: [57:46] I think both of our Spidey senses are tingling on this one and we'll keep an eye on it then there was a battle of press releases where Amazon Walmart said we're hiring 20,000 people and then Amazon du ha ha we're hiring 50,000 so that was that was the other Amazon news I saw. Jason: [58:02] Yeah I saw that too I got to be honest to me those were nothing Burgers it's super complicated both of those companies hire a ton of seasonal Labour way more than that right and. Sidenote like targets hiring a hundred and thirty thousand people for Christmas so those numbers just didn't seem that impressive and if I was if I was Walmart my press release would have said hey we've hired 500,000 people since covid-19 like that seems that's true and that seems a lot more impressive than than the 20,000 I guess what is interesting in both cases is, this is not seasonal labor these are full-time jobs just dedicated to fulfilling e-commerce orders so that's kind of interesting. [58:42] And two other tiny pieces of Walmart news in the the time that we don't have left Walmart did announce. An enhancement to their advertising echo system so they have a thing called the Amazon or Walmart connect and they launched a DSP for that. Demand-side platform it's a way to use Walmart data to Target segments and by ads both. On Walmart so walmart.com and in Walmart stores but also um across the the interweb using Walmart's first-party data and as we talked about in our privacy show as it's harder to use Google and Facebook targeting because of all these privacy concerns. It makes sense that that retailers are trying to maximize The Leverage they have with their 1p data Walmart has the most customers so they have the most wimpy data and so that that's kind of an interesting evolution of their ad platform and a potential competitive Advantage for Walmart. [59:47] And then another one that's just kind of interesting that I didn't necessarily expect Walmart launched a new delivery platform. Which is delivering goods for other retailers. So they call it Walmart Go Local and essentially you can be independent owner operator you know, in a town and sell stuff for home delivery and Walmart will use their network of owned delivery. People in vehicles to pick stuff up from your bakery and drive them to a customer for a fee. Scot: [1:00:19] Yeah we'll see how that goes I don't know if I want my bakery to be delivered by Walmart. Jason: [1:00:27] Yeah I mean there's a number of issues it just to me it's interesting because obviously Walmart used to be a pure retailer you know you're seeing them lean into a lot of services they it was a few weeks ago but they announced this deal with. With Adobe whether they're they're selling software to Adobe and now they're selling delivery services to you know Main Street when you know used to be the narrative was that Walmart was putting Main Street out of business so it just it's interesting to see the evolution of Walmart. Scot: [1:00:57] I've whenever Walmart talks about some of the services they show kind of a low WalMart delivery vehicle that looks a lot like an Amazon Prime van. Jason: [1:01:06] Yeah they have a lot of different they have kind of a patchwork Fleet of delivery services and some of them use different vehicles but you you maybe more expert in the Walmart delivery Fleet than I am. Scot: [1:01:20] I just see this picture and it I think a lot about Vans everyday and it resonates with me. [1:01:32] I appreciate it thanks for looking out for me well we are out of time and one of the topics we wanted to cover but what with all the juicy IPO news didn't get to this time but will dedicate neck so to it is there is a lot coming up we're kind of coming in to wear it the past the halfway point of Q3 and all eyes will turn to Q4 with the holiday season it's going to be really unique this year because we cut the covid thing we've got the Delta variant we've got all kinds of crazy weather going on with hurricanes so as a retailer it's a really wacky time and one of the things we want to talk about next show is ship again so we coined that here on the show last year and turned out to be probably bigger than even we anticipated what's going on with that and 2021 I see a lot of time thinking about Vanagon there's also chip again so which which caused Vanagon so with want to talk about all the geddens that we're seeing out there. And then also you know there's a lot of interesting things going on the supply chain we've been you know the team here at the Jason Scott show and our many analysts have been listening in to the quarterly results and and talking to retailers about this and we have a lot of information to share on that kind of T up what we think the holiday is going to look like from from those angles. Jason: [1:02:55] Wow that sounds like an awesome show I can't wait to hear it. Scot: [1:02:58] I know I cannot wait for us to make it. Jason: [1:03:01] Will Scott it's happen again we've totally used up our allotted time as always if this was valuable we sure would appreciate that five star review on iTunes and only takes a second it's easier than ever before to leave it jump over there give us a review and make sure you're subscribed to get that next podcast Scot teas. Scot: [1:03:21] Absolutely thanks everyone and until next time… Jason: [1:03:24] Happy commercing.

Catherine Stienstra, head of municipal bond investments at Columbia Threadneedle, says that the muni market has had a good summer, but got a bit softer in August and is likely to stay that way while waiting to see how government infrastructure plans and any potential tax increases play out. Tom Lydon of ETFTrends.com -- for the second week in a row -- makes a classic fund that now is available as an exchange-traded fund his ETF of the Week; one difference this week is that the fund is a cornerstone in Chuck's portfolio. Also on the show, Barry Metzger of Charles Schwab talks about the latest Traders Pulse survey, which looks at the sentiment of investors who are making at least three dozen transactions per year, and in the Market Call, Mike Bailey, director of research at FBB Capital Partners, discusses his 'beat and raise' strategy for buying stocks with momentum.

I saw a headline this week that the DFW office market is trending up. Again? We just had this conversation a few weeks ago. How is it different this time? The article was from D Magazine's CRE edition written by J. J. Leonard and he did a good job of slicing and dicing the data to reach that conclusion. I'm not sure, however, the numbers from CoStar would agree. First, he states that suburban markets are dominated by small and medium-sized businesses whereas downtown normally appeals to larger, national tenants. He correctly points out that national companies typically make policy that applies everywhere in the country and they are slow to change. Small and local companies can be more nimble in their decisions. So getting back to local control (smaller tenants) appears to be what is driving the deal activity mentioned in the article. It says that absorption was positive for the first time in four quarters at the end of the 2nd quarter. CoStar says we've had 5 quarters of negative absorption. To reach his conclusion, J. J. acknowledged that his numbers were fueled by Charles Schwab moving into its million SF campus. He also says that numbers all over the metroplex were trending positive. He says that if you remove JC Penney's bankruptcy-driven move-out of its 1.2 million-square-foot campus in Plano in the 1st quarter, absorption would be only slightly down, and Class A absorption would be over 600,000 square feet positive. But you can't do that, of course. If you keep Schwab in the mix, you have to do the same for Penney's. The article says the 2nd half of 2021 will have positive absorption and in that regard, CoStar agrees. In fact, CoStar is predicting that 2021 will end the year with 2.7 million SF of positive absorption and remain positive into the future. I'm hopeful that this will be true but with we've been over the last year and a half and with the current conditions of the delta variant, I'm skeptical. Also, the article states that rental rates have increased again and now average $29.44. I'm not seeing that yet. CoStar says that overall rates fell 0.2% which means they are basically flat and they average $27.76. But average rates really don't tell the story. The truth is in the details. For example, I was doing some research on an area of Tarrant County the other day. This was for office condos. I found rental rates that varied from $17.50 to $28.00 for what looked like comparable buildings. An average rate of $22.75 would be very misleading because not a single building was quoting $22.75. The tenant's market may be coming to an end.

You may notice that charity campaigns tend to focus on the stories of one or two individuals or families, and that those stories are often rich with emotional content but light on information and statistics. There's a reason for that.In this episode of Choiceology with Katy Milkman, we look at the different ways we tend to be captivated and motivated by individuals and their stories, while on the other hand, we often become numb or disengaged when presented with large numbers or statistical information.Carol Quirke tells the story of Dorothea Lange and her most famous photograph. Dorothea Lange was a documentary photographer who did important work raising awareness of the plight of migrant workers during the Great Depression. But one of her photos stands above the rest: Migrant Mother. You'll hear the story of how that photograph came to be, and the effect it had on public policy.You can view the image online at the Library of Congress.Carol Quirke is a professor at SUNY Old Westbury, and the author of Eyes on Labor and Dorothea Lange, Documentary Photography, and the Twentieth Century: Reinventing Self and Nation.Next, Deborah Small joins Katy to discuss two separate but related phenomena that describe the way we process information about small and large numbers. You can read her paper with George Loewenstein called Helping a Victim of Helping the Victim: Altruism and Identifiability for a deeper explanation of the identifiable victim effect and you can learn more about scope insensitivity through the work of Paul Slovic and others in the paper Scope insensitivity: The limits of intuitive valuation of human lives in public policy.Deborah Small is the Laura and John J. Pomerantz Professor of Marketing and Psychology at The Wharton School of the University of Pennsylvania. Finally, Katy gives you simple strategies to help put larger numbers in context, and to make better decisions around seemingly abstract statistics.Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts.Important DisclosuresAll expressions of opinion are subject to change without notice in reaction to shifting market conditions.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.The book How to Change: The Science of Getting from Where You Are to Where You Want to Be is not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Charles Schwab & Co., Inc. (CS&Co.) has not reviewed the book and makes no representations about its content.(0821-1VCR)

Join Jason and me for a phenomenal conversation around the importance of persuasion through storytelling, authenticity and relationship building.   Jason Harris is the co-founder & CEO of the award-winning creative advertising agency Mekanism, co-founder of the Creative Alliance and author of the national bestseller, The Soulful Art of Persuasion. Harris works closely with brands through a blend of creativity and performance. We call this approach Soul + Science. Iconic brands include Peloton, Ben & Jerry's, Jose Cuervo, Alaska Airlines, Charles Schwab and OkCupid, among others. He was named a Campaign US 40 Over 40 honoree for his noteworthy contributions to the advertising & marketing industry. His methods are studied in cases at Harvard Business School.

70% of pre-retirees surveyed by Charles Schwab say they know “little or nothing” about how their withdrawals are going to be taxed. Is it possible to reduce your taxes in retirement, if you use the right strategies?

Elaine Kwon, Co-founder of Kwontified and former head of Luxury at Amazon, discusses the outlook for the retail market, as supply chain woes continue. Barry Metzger, Managing Director of Trading Services at Charles Schwab, discusses the company's Trader Pulse Survey and what's top of mind for traders. Ted Smith, President at Union Square Advisors, talks markets. Michael Sinensky, CEO of PPE company WeShield, talks about potential PPE shortages. Hosted by Paul Sweeney and Matt Miller. (Taylor Riggs fills in for Matt Miller) Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Ever want to change something that really matters to you, but struggle to make it stick, let alone wonder how to ever get started? You're not alone. There is so much misinformation in the world of behavior change, which is why I wanted to sit down with Katy Milkman to see if we could all get closer to the truth. And, find out, once and for all, what really works, and what's just distraction. Katy is an award-winning behavioral scientist and a professor at The Wharton School of the University of Pennsylvania. She hosts Charles Schwab's popular behavioral economics podcast Choiceology, and is the co-founder and co-director of The Behavior Change for Good Initiative, a research center with the mission of advancing the science of lasting behavior change whose work is being chronicled by Freakonomics Radio. She has worked with or advised dozens of organizations on how to spur positive change, including Google, the U.S. Department of Defense, the American Red Cross, 24 Hour Fitness, Walmart and Morningstar. Her research is regularly featured in major media outlets such as The New York Times, the Wall Street Journal, and NPR. She is the bestselling author of How to Change: The Science of Getting from Where You Are to Where You Want to Be. You can find Katy at: Website | Choiceology podcastIf you LOVED this episode:You'll also love the conversations we had with Dan Ariely about the irrational ways we behave and how to see more clearly what's really going on.Check out our offerings & partners: Parachute: Premium quality sheets, towels, robes and more. Like nothing you've ever felt. Make staying in more comfortable with our modern home collections. Responsibly manufactured. Visit ParachuteHome.com/GOODLIFE for free shipping and returns on Parachute's very comfortable home essentials.My new book, Sparked: Discover Your Unique Imprint for Work that Makes You Come Alive is now available for pre-order at https://sparketype.com/book/See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Katy Milkman is a Professor at The Wharton School of the University of Pennsylvania, host of Charles Schwab's popular podcast “Choiceology with Katy Milkman”, which explores key lessons from behavioral economics about decision making, and the former president of the Society for Judgment and Decision Making. She's also the co-founder and co-director of the Behavior Change for Good Initiative.In this episode, Eric and Katy discuss her book, How to Change: The Science of Getting from Where You Are to Where You Want to Be. But wait – there's more! The episode is not quite over!! We continue the conversation and you can access this exclusive content right in your podcast player feed. Head over to our Patreon page and pledge to donate just $10 a month. It's that simple and we'll give you good stuff as a thank you!In This Interview, Katy Milkman and I Discuss How to Change and …Her book, How to Change: The Science of Getting from Where You Are to Where You Want to BeThe biggest barriers to change (and how to overcome them)The importance of recognizing the choices you're making when you're actually making themThe benefit of making it fun to do what's needed to accomplish goalsHow to combine intrinsic and extrinsic motivation to maximize the benefitThe non-linear nature of changeThe key to sustained habitsHow important it is to apply both flexibility and discipline to habitsKaty Milkman Links:Katy's WebsiteTwitterPeloton: Of course the bike is an incredible workout, but did you know that on the Peloton app, you can also take yoga, strength training, stretching classes, and so much more? Learn all about it at www.onepeloton.comFeals: Premium CBD delivered to your doorstep to help you manage stress, anxiety, pain, and sleeplessness. Feals CBD is food-grade and every batch is tested so you know you are getting a truly premium grade product. Get 50% off your first order with free shipping by becoming a member at www.feals.com/wolfIf you enjoyed this conversation with Katy Milkman, you might also enjoy these other episodes:Tiny Habits for Behavior Change with BJ FoggBehavior Change with Dr. John NorcrossSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

She's applying artificial intelligence to healthcare in groundbreaking ways. At the age of 22, Noosheen Hashemi launched her career at Oracle. Those days during the 1980s were exciting times. Oracle the company experienced exponential growth - Noosheen was one of the power brokers who helped Oracle double its revenues for five straight years.  Noosheen moved from Oracle in the mid-90s to a fintech company that was instrumental in bringing financial, educational content to companies like E-Trade and Charles Schwab during the dot com heyday.  After this dot com was sold, Noosheen started a family and a couple of foundations who began investing in many companies, which involved Noosheen working closely with nonprofits and think tanks.  During those think tank years, Noosheen “became very wonky.” Her interest in the government's ability to solve problems (and create problems) took off.  With a deep interest in creating lasting change for the betterment of humanity, and after careful, systematic research, Noosheen decided to “bet on herself” by starting her own tech company: January AI.  There are reasons why Noosheen pursued the private sector to make a difference. She shares with Wade those reasons in this episode. Listen as she shares how her multiple careers prepared her to lead today's brand new seed-stage precision health tech company that's got people talking.  Wait till you hear what January AI offers - user-friendly AI that helps prevent, predict, and postpone chronic disease.  Diabetes is where Noosheen's company is already making waves - did you know 80% of the population is prediabetic and doesn't know it?  Are you?  Tune in and discover how AI can help you predict and prevent future illnesses.  In this podcast, we cover:  The incredible technology Noosheen's company is developing to stop diabetes Which is more effective at bettering society: business or philanthropy?  How to know if you qualify as someone who is pre-diabetic How technology can be used to help you eat better and feel better How January AI can predict your glycemic response 33 hours into the future Using personalized technology to find desserts that are a good fit for YOU while avoiding foods that spike YOUR blood sugar How to create “psychological leverage” to foster self-discipline in your food choices The two tech “wearables” January AI requires that take data from your body to provide digital glucose management solutions Changes in U.S. healthcare Noosheen sees coming in ten to twenty years What does January AI do (and NOT do) with your health data China's role in the future of AI and genome data harvesting Will “singularity” become our reality?  Do you have diabetes?  January AI started with a focus on diabetes for a good reason - far too many people end up with one type of diabetes or another at some point in life.  In her conversation with Wade, Noosheen says we should think about diabetes as a spectrum. We all are on a metabolic health spectrum, some more healthy than others. The healthier side of the spectrum is where a person has better metabolic fitness. They can go from fasting to feeding quickly as their body makes speedy adjustments. This person has enough insulin to process glucose.  According to Noosheem, 34 million Americans have diabetes, and 88 million have prediabetes - many of them don't know this.  Why is this possible? Because with no symptoms and no testing, how else would someone be able to know they are prediabetic?  While Noosheen goes into further detail on this situation, she points out a test you can pick up at a local store that provides a quick and easy way to tell if you are prediabetic or not.  Here is a glimpse of AI helping people live healthier lives: Here is Nooshen describing how January AI works with the average user: “We look at what you have been doing and eating. We create a behavioral model and a biological model of your body. This is the core data that tells us what you're going to do next.” This provides a “prediction ability” that the AI service can use for your benefit. Noosheen explains, “For biohackers, instead of putting things through your beautiful body that you fine-tuned so much, why don't you instead put this info through the AI, and let the AI tell you how you're going to respond. Why eat this? After only four days of training, you can take off the CGM, and the AI will continue to predict for you.”  “The AI tells you which pizza you should eat, this pancake vs. that pancake, this grocery item vs. that grocery time. You can compare graphs to decide what you should do. You can compare any two grocery items or recipes. We have 2 million recipes in our database. How will you respond to eating this or that? Our AI will tell you.”  “It will tell you how many minutes you have to walk to get back into a healthy blood sugar range after eating. So, if you eat a huge meal, you need to walk an hour and a half, for example. If it's Saturday and you don't have an hour and a half, it tells you the price of walking in minutes. To get your blood sugar back in the healthy range, it guides you. The AI can tell if you have been fasting for 15 hours. It makes recommendations as you go, like ‘maybe you should drop that particular yogurt because it has a high glycemic index. Instead, why don't you shift to this yogurt instead?” “We train people's pallets over a period of time to move to lower glycemic foods without making it so extreme.”  Wade's questions took a deep dive into some topics surrounding AI and the future of healthcare. As a Silicon Valley veteran of almost four decades - Noosheen provides many glimpses into what awaits us as AI technology marries healthcare. Episode 156 is one fascinating interview you don't want to miss.  Noosheen says “singularity” is inevitable - possibly as soon as 2030.  Are you ready for the “brave new world” of futuristic healthcare technology? Find out by listening!  Episode Resources:  Check out more about Noosheen Hashemi & January AI Noosheen Hashemi on LinkedIn January AI on Facebook January AI on Twitter January AI on Instagram Noosheen Hashemi on YouTube

Most people wouldn't attempt a marathon or a climb up Mount Everest without first working through some less audacious objectives. And yet there are countless examples of ambitious goals—new businesses, academic degrees, career changes, athletic feats—that were abandoned because they appeared too daunting in scope.In this episode of Choiceology with Katy Milkman, we look at a simple strategy that can make your biggest goals more manageable.Shannon Miller is one of the most decorated athletes in the history of gymnastics. She is a seven-time Olympic medalist, and two-time inductee into the US Olympic Hall of Fame. While her ambitions as a young gymnast included competing at national and international events, she learned early on that achieving those lofty goals would require many small steps along the way. You'll hear how Shannon Miller's approach to goals led her to the pinnacle of her sport, and also helped her through a devastating illness.You can read more about Shannon Miller's challenges and triumphs in her memoir, It's Not About Perfect: Competing for my Country and Fighting for My Life. Next, Hal Hershfield joins Katy to explore how breaking your savings goals into smaller amounts and shorter intervals can help you overcome certain psychological hurdles. He also discusses scenarios where smaller monetary increments may not actually be in your best interest.Hal Hershfield is an Associate Professor of Marketing, Behavioral Decision Making, and Psychology at UCLA's Anderson School of Management. Read his paper Temporal Reframing and Participation in a Savings Program: A Field Experiment for details on his research with Stephen Shu and Shlomo Benartzi.Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.If you enjoy the show, please leave a ⭐⭐⭐⭐⭐ rating or review on Apple Podcasts. Important DisclosuresAll expressions of opinion are subject to change without notice in reaction to shifting market conditions.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.The book How to Change: The Science of Getting from Where You Are to Where You Want to Be is not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Charles Schwab & Co., Inc. (CS&Co.) has not reviewed the book and makes no representations about its content.(0821-1VC5)

Welcome to Episode 174 of Building My Legacy.In this podcast we talk with Rick Maurer — author, speaker and consultant — who helps business leaders identify resistance to change and turn that opposition into support. Rick offers a very practical approach to change management, explaining that employees go through three distinct “levels of resistance” to change. As a leader implementing a change, you need to understand that first, employees don't get it; second, they don't like it; and, third, they don't like you. By addressing the resistance that comes with each level, you will be able to gain your employees' support for the change and ensure a successful implementation. With so many companies changing their strategy as a result of the pandemic, Rick's message will be helpful for business owners and leaders who need to implement changes — large and small — in their organizations.So if you want to know:– Why the first step in change management is getting the right information– Why five PowerPoint slides can be more effective than 50– The right and wrong ways to use employee surveys and focus groups– About “pockets of energy” and how to take advantage of them– How studying the implementation of a past change can be beneficial– The advantage of keeping people in the loop all the time - not just when you're implementing a change About Rick MaurerChange expert Rick Maurer works with leaders and their teams to overcome resistance to change. Since the publication of his book Beyond the Wall of Resistance in the 1990s, Rick's opinion has been sought by The Wall Street Journal, CNBC, NBC Nightly News, Fortune and many other media outlets. He has consulted on change management for some of the largest companies in the world, including Lockheed Martin, Deloitte, Verizon, Charles Schwab, NASA and Kaiser Permanente as well as government agencies around the world. His latest book, Seizing Moments of Possibility, addresses the question of many leaders — “Who has time to gain employee support for change?” — by showing how to blend support for change into routine tasks. It's available free as an ebook on his website, RickMaurer.com About Lois Sonstegard, PhDWorking with business leaders for more than 30 years, Lois has learned that successful leaders have a passion to leave a meaningful legacy. Leaders often ask: When does one begin to think about legacy? Is there a “best” approach? Is there a process or steps one should follow?Lois is dedicated not only to developing leaders but to helping them build a meaningful legacy. Learn more about how Lois can help your organization with Leadership Consulting and Executive Coaching:https://build2morrow.com/Thanks for Tuning In!Thanks so much for being with us this week. Have some feedback you'd like to share? Please leave a note in the comments section below!If you enjoyed this episode, please share it with your friends by using the social media buttons you see at the bottom of the post.Don't forget to subscribe to the show on iTunes to get automatic episode updates.And, finally, please take a minute to leave us an honest review and rating on iTunes. They really help us out when it comes to the ranking of the show, and I make it a point to read every single one of the reviews we get.Please leave a review right now. Thanks for listening!Building My Legacyhttps://businessinnovatorsradio.com/building-my-legacy/Source: https://businessinnovatorsradio.com/episode-174-rick-maurer-on-overcoming-the-resistance-to-change-building-my-legacy-with-lois-sonstegard-phd

Welcome to Episode 174 of Building My Legacy.In this podcast we talk with Rick Maurer — author, speaker and consultant — who helps business leaders identify resistance to change and turn that opposition into support. Rick offers a very practical approach to change management, explaining that employees go through three distinct “levels of resistance” to change. As a leader implementing a change, you need to understand that first, employees don't get it; second, they don't like it; and, third, they don't like you. By addressing the resistance that comes with each level, you will be able to gain your employees' support for the change and ensure a successful implementation. With so many companies changing their strategy as a result of the pandemic, Rick's message will be helpful for business owners and leaders who need to implement changes — large and small — in their organizations.So if you want to know:– Why the first step in change management is getting the right information– Why five PowerPoint slides can be more effective than 50– The right and wrong ways to use employee surveys and focus groups– About “pockets of energy” and how to take advantage of them– How studying the implementation of a past change can be beneficial– The advantage of keeping people in the loop all the time - not just when you're implementing a change About Rick MaurerChange expert Rick Maurer works with leaders and their teams to overcome resistance to change. Since the publication of his book Beyond the Wall of Resistance in the 1990s, Rick's opinion has been sought by The Wall Street Journal, CNBC, NBC Nightly News, Fortune and many other media outlets. He has consulted on change management for some of the largest companies in the world, including Lockheed Martin, Deloitte, Verizon, Charles Schwab, NASA and Kaiser Permanente as well as government agencies around the world. His latest book, Seizing Moments of Possibility, addresses the question of many leaders — “Who has time to gain employee support for change?” — by showing how to blend support for change into routine tasks. It's available free as an ebook on his website, RickMaurer.com About Lois Sonstegard, PhDWorking with business leaders for more than 30 years, Lois has learned that successful leaders have a passion to leave a meaningful legacy. Leaders often ask: When does one begin to think about legacy? Is there a “best” approach? Is there a process or steps one should follow?Lois is dedicated not only to developing leaders but to helping them build a meaningful legacy. Learn more about how Lois can help your organization with Leadership Consulting and Executive Coaching:https://build2morrow.com/Thanks for Tuning In!Thanks so much for being with us this week. Have some feedback you'd like to share? Please leave a note in the comments section below!If you enjoyed this episode, please share it with your friends by using the social media buttons you see at the bottom of the post.Don't forget to subscribe to the show on iTunes to get automatic episode updates.And, finally, please take a minute to leave us an honest review and rating on iTunes. They really help us out when it comes to the ranking of the show, and I make it a point to read every single one of the reviews we get.Please leave a review right now. Thanks for listening!Building My Legacyhttps://businessinnovatorsradio.com/building-my-legacy/Source: https://businessinnovatorsradio.com/episode-174-rick-maurer-on-overcoming-the-resistance-to-change-building-my-legacy-with-lois-sonstegard-phd

The infrastructure bill passed the Senate yesterday and will now make its way to the House of Representatives for the next big hurdle. What does this mean for the markets? Join us live as we discuss this as well as SPAC's, Charles Schwab, Crypto Hacks and much more!  Show is live at 2pm pst. Send in your questions. #Ethereum  #binance #financials #fed Contact TraderMerlin: Email – TraderMerlin@gmail.com LinkedIn: https://www.linkedin.com/groups/13930555/ Twitter: TraderMerlin - https://twitter.com/TraderMerlin IG: TraderMerlin - https://www.instagram.com/tradermerlin/ FB: TraderMerlin  - https://www.facebook.com/TraderMerlin Live Daily Show:  - https://www.youtube.com/TraderMerlin   Trading Applications used: TastyWorks, CliK, TradeStation, TradingView