Podcasts about ibm ibm

Diane King Hall dives into several earnings movers ahead of Thursday's open. For Texas Instruments (TXN), the chipmaker boasted a top-and-bottom line beat alongside a better-than-expected guidance forecast. IBM (IBM) is under pressure after an uncertain outlook in its quarterly report. And, Southwest Airlines (LUV) shares hover near 52-week lows after pulling its full-year guidance similar to its airline peers.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – / schwabnetwork Follow us on Facebook – / schwabnetwork Follow us on LinkedIn - / schwab-network About Schwab Network - https://schwabnetwork.com/about

More Top Global Sustainable Stocks includes articles by financial analysts at S&P and Morningstar. Plus, links to two more articles! By Ron Robins, MBA Transcript & Links, Episode 148, February 21, 2025 Hello, Ron Robins here. Welcome to my podcast episode 148, published February 21, 2025, titled “More Top Global Sustainable Stocks.” It's presented by Investing for the Soul. Investingforthesoul.com is your site for vital global ethical and sustainable investing mentoring, news, commentary, information, and resources. Remember that you can find a full transcript and links to content – including stock symbols and bonus material – on this episode's podcast page at investingforthesoul.com/podcasts. Also, a reminder. I do not evaluate any of the stocks or funds mentioned in these podcasts, and I don't receive any compensation from anyone covered in these podcasts. Furthermore, I will reveal any investments I have in the investments mentioned herein. Additionally, quotes about individual companies are brief. Please go to this podcast's webpage for links to the articles and more company and stock information. ------------------------------------------------------------- More Top Global Sustainable Stocks (1) I'm beginning with this insightful article titled 10 Key Sustainable-Investing Themes and Companies. The referenced overview is by Martin Vezer on morningstar.com. Here are some quotes by Mr. Vezer from his article. “Morningstar Sustainalytics' analysts recently highlighted 10 environmental, social and governance themes that they believe will affect corporate value chains in 2025. For each theme, we profiled one publicly listed company that is leading its industry on addressing the ESG issues we identified. 10 Stocks From Sustainalytics 1. Power-Hungry Data Centers: A Dilemma for Big Tech We compare the carbon intensity of some of the largest software & services players, helping investors identify AI players in the subindustry that are leading in terms of mitigating carbon risks. Among the seven companies that we sample, IBM (IBM) stands out for having reduced its carbon intensity by 30% from 2020 to 2023. 2. Green Energy Demand: A Boon for Utilities The adoption of generative AI across various sectors introduces a new set of concerns regarding its energy footprint and the rapid growth of power demand for data centers… As a renewable power producer, EDP Renováveis (EDRVY) has maintained its very low carbon intensity from generation activities over the years. Its overall carbon intensity is also in line with that of its subindustry peers. 3. AI Innovation Boosts Gains for Healthcare AI adoption across the healthcare and biopharmaceutical industries has been proliferating in recent years, targeting both cost cuts and innovation gains that are meant to expand and accelerate patient access to quality care, as well as to new therapies and treatment options. Pfizer (PFE) stands out for utilizing AI not only for drug discovery and development but also to monitor medicine and vaccine safety and to improve its supply chain. 4. AI in Oil & Gas Bolsters Efficiency and Innovation AI has been an important tool for the oil and gas industry for years, but recent advancements are transforming decision-making and have the potential to meaningfully reduce environmental impacts and improve safety… Baker Hughes (BKR) is among the oil and gas firms applying AI-driven software to streamline production and reduce emissions. 5. Banks Play a Critical Role in Transition Finance The growth of transition finance represents an opportunity for banks to diversify the risks of their loan books and safeguard the sustainability of their business models. Barclays (BCS) is the only bank out of the 10 large banks we analyzed that has set a credible sustainable and transition financing target of USD 1 trillion by 2030. 6. Resilient Infrastructure Is Climate-Smart Investing Recent weather and climate-related catastrophes, such as the Los Angeles fires, Hurricane Ian in Florida, and flooding in Valencia, Spain, highlight the intensifying risks that extreme weather events have on the construction industry. Aecom (ACM) is an interesting case study because it generates 60% of its revenue from sustainable products and services and has developed many of its initial green infrastructure projects globally, such as the first LEED-certified airport terminal in the US. These projects are backed by a broad offering of climate adaptation services, including natural disaster preparedness reviews. 7. Lithium Boom Brings New Challenges Clean technologies, such as solar panels and electric vehicles, are highly dependent on lithium-ion batteries for energy storage. Investors with carbon-and water-related goals may consider opting for lithium for a lower environmental impact and lower ESG risks. Vulcan Energy Resources (VULNF) is engaged in projects to extract and process battery-grade lithium hydroxide, in addition to producing renewable geothermal energy. 8. Building Responsible Food Supply Chains Human rights violations expose firms to material risks, including fines, reputational harm, and operational disruptions that erode shareholder value. Compared with other subindustries, packaged foods and food retail have been involved in a disproportionately large number of incidents related to human rights abuses in their supply chains. Lindt (CHLSY) demonstrates the relatively strong management of these issues. The firm has a robust human rights policy for suppliers and actionable initiatives to support it. Despite an August 2022 controversy linked to child labor in its Ghana cocoa supply chain—a challenge faced by most cocoa companies—Lindt remains transparent and proactively collaborates with local communities to create tailored mitigation and remediation programs. 9. A Future With Less Plastics Fast-moving consumer goods firms (for example, packaged foods and personal products) that invest in advanced technologies, such as chemical recycling to produce more postconsumer recycled packaging or venturing in biodegradables such as cornstarch or bamboo packaging to replace single-use plastics, are likely to see increased demand and growth. Among our sample of 11 consumer goods companies, L'Oréal (LRLCY) had relatively few plastics incidents in recent years and performs well on our measures of solid waste management. 10. Alcohol-Free Beverages Are Growing The industry is undervalued; the average share price in our sample of 26 beer, wine, and spirits firms is trading 20% below Morningstar's fair price value as of November 2024. Asahi Group (ASBRF) a leading Japanese brewer, has set several targets to expand its no-and low-alcohol portfolio, and we note that it is one of the few companies in the sample that provides some transparency into its nonalcoholic beer revenue. To learn more about these themes and the companies noted above, download the report here.” End quotes. ------------------------------------------------------------- More Top Global Sustainable Stocks (2) This next article titled S&P Global 2025 Sustainability Yearbook is a highly referenced ranking of sustainably oriented companies around the world. It's by S&P and found on spglobal.com. Here are some quotes by S&P concerning some aspects of its rankings. “The Sustainability Yearbook distinguishes companies within their industries that have each demonstrated strengths in corporate sustainability. Yearbook members and distinction levels are selected based on their 2024 Corporate Sustainability Assessment (CSA) Score, which is the S&P Global ESG Score without the inclusion of any modeling approaches. The selection process also reflects exclusion screening criteria. Distinctions are calculated against the top performing company in each industry, and exclusions applied thereafter. Distinction level and Scores are industry specific. 780 companies made it into the Sustainability Yearbook. As of January 22, 2025, over 7,690 companies assessed for the 2024 Corporate Sustainability Assessment were considered for inclusion in The Sustainability Yearbook 2025. This year, only 780 companies made it into the Sustainability Yearbook.” End quotes. Note: companies are divided into Top 1%, 5%, and 10% of S&P Global Corporate Sustainability Assessment Scores. Among the well-known companies are Coca-Cola HBC AG (CCH.L), Iberdrola, S.A. (IBE.MC), and Ingersoll Rand Inc. (IR) Non-US companies appear to be the majority on the list. Anyone looking for geographical diversification in their sustainable portfolio(s) should find these rankings useful. ------------------------------------------------------------- Additional Article Links Title: 3 Renewable-Energy Stocks That Could Thrive Under Trump on barrons.com. By Avi Salzman. Article from Canada Title: Meet the four most sustainable funds on the market for 2025 on corporateknights.com. By CK Staff. ------------------------------------------------------------- Ending Comment These are my top news stories with their stock and fund tips for this podcast “More Top Global Sustainable Stocks.” Please click the like and subscribe buttons wherever you download or listen to this podcast. That helps bring these podcasts to others like you. And please click the share buttons to share this podcast with your friends and family. Let's promote ethical and sustainable investing as a force for hope and prosperity in these troubled times! Contact me if you have any questions. Thank you for listening. I'll talk to you next on March 7th. Bye for now.   © 2025 Ron Robins, Investing for the Soul

ในช่วงกลางทศวรรษ 1980 เหตุการณ์สำคัญที่จะเปลี่ยนแปลงวงการคอมพิวเตอร์ตลอดกาลกำลังจะเกิดขึ้น Bill Loy วิศวกรและนักธุรกิจผู้มากประสบการณ์ กำลังเตรียมตัวสำหรับการประชุมที่อาจเรียกได้ว่าสำคัญที่สุดในชีวิตการทำงานของเขา เป้าหมายของเขาคือการนำเสนอแนวคิดต่อคณะกรรมการบริหารองค์กร (Corporate Management Committee หรือ CMC) ของ IBM บริษัทยักษ์ใหญ่ด้านเทคโนโลยีที่ในขณะนั้นครองความเป็นผู้นำในตลาดคอมพิวเตอร์เมนเฟรมสำหรับองค์กรขนาดใหญ่ ในยุคนั้น IBM เป็นที่รู้จักในฐานะผู้ผลิตคอมพิวเตอร์ชั้นนำที่มีผลิตภัณฑ์ครอบคลุมตั้งแต่ระบบประมวลผลสำหรับธนาคารไปจนถึงระบบคอมพิวเตอร์สำหรับโครงการอวกาศ แต่มีตลาดหนึ่งที่ IBM ยังไม่สามารถเจาะเข้าไปได้ นั่นคือตลาดคอมพิวเตอร์สำหรับใช้ในบ้าน ซึ่งกำลังเติบโตอย่างรวดเร็วด้วยความนิยมของซอฟต์แวร์สเปรดชีตและการใช้งานในสำนักงานขนาดเล็ก เลือกฟังกันได้เลยนะครับ อย่าลืมกด Follow ติดตาม PodCast ช่อง Geek Forever's Podcast ของผมกันด้วยนะครับ #ประวัติคอมพิวเตอร์ #IBMvsCompaq #BillGates #Microsoft #PCClone #คอมพิวเตอร์ยุคแรก #ประวัติIT #TheHistoryofPC #ComputerWars #TechHistory #เทคโนโลยี #ไอที #ITHistory #ComputerHistory #PCHistory #DOS #Intel #IBMHistory #CompaqHistory #MicrosoftHistory #geekstory #geekforeverpodcast

欢迎收听雪球出品的财经有深度，雪球，国内领先的集投资交流交易一体的综合财富管理平台，聪明的投资者都在这里。今天分享的内容叫标准石油和IBM两个投资案例的启示。来自闲来一坐s话投资。美国的金融学教授杰里米·西格尔在《股线长线法宝》一书中，提到了标准石油和IBM两个公司的投资案例，颇给人以投资的启示。西格尔在书中说道：设想一下，假如你穿越回到了1950年，刚去世的叔叔给你刚出生的女儿留下了1万美元遗产。这笔钱有严格的使用条件：你只能用这笔钱来买入新泽西标准石油公司（如今名为埃克森美孚），或是另一家规模小得多但很有发展前景的新经济公司，名为I B M。同时，你还被要求把所有的分红再投入进去，长期持有不动，只有当2010年你的女儿60岁时才能使用。你应该买哪家公司呢？为了帮你做决策，假设有一个能帮人实现愿意的灯神出现了，告诉你未来60年这两家公司的真实年收入、盈利、分红增长率，以及科技行业和能源行业的市值变化。此外，灯神还会告诉你，I B M将在两年内发明出第一台商用电脑，将在未来20年里前无古人、后无来者地成为科技行业领军企业。1950年，没有人会预料到I B M会有如此惊人的增长。在华尔街专家选股时常用的增长指标里，每一项IBM都远远超过了标准石油公司。每股盈利的增长是华尔街最喜欢的选股指标，IBM的每股盈利增长率在60年的时间里，每年超过标准石油3%以上。并且在这期间，石油行业的市场占比大幅萎缩。1950年，石油公司在美股中的总占比大约为20%，到2010年，占比降至只有10%左右，同时科技行业的占比则提升到了之前的6倍以上。有了这些信息，相信你会毫不犹豫地选择IBM，这个决定看起来是板上钉钉的事了。然而，这个选择却是错误的。2010年，女儿打开账户，看到账户里躺着市值近1500万美元的I B M股票可能会很开心，但是如果当初买的是标准石油公司，那么这个账户里躺着的将是超过3300万美元的股票。另外值得一提的是，这两家公司在60年里都跑赢了市场，假如当初投资的是一个市值加权的指数基金，那么账户里的资产只有不到500万美元。为什么结果是这样呢？确实，1950年之后不久，IBM的表现要比标准石油公司好得多，但人们对IBM新产品的追捧，使公司估值大幅度上升。虽然这60年间IBM仍然在高速增长，但投资者为此支付了过高的溢价，买得太贵了。标准石油公司的平均市盈率只有IBM的一半左右，但股息率则比IBM高出2.04%，所以，在分红再投资的情况下，投资者最终积累下来的股票份额，将达到最初买入份额的11.87倍，而同样是分红再投资，IBM积累下来的股票份额只有最初买入的3.63倍。虽然标准石油公司的股价上涨幅度比IBM低了不到2%，但它更高的分红收益率帮它成为长期赢家。看到这两个投资案例，我抚卷深思，认为它给我们投资人的启示是十分深刻的。1、长期主义的眼光投资是一辈子的事情，所以投资的规划要长远。然而，在我们这个市场上，究竟又有多少人真正具有长期主义的眼光呢？我观察到的事实是着实不多，不要说要着眼于未来十年八年，可能大多数人连未来五年的眼光都没有，他们所要的是快速获取股价上涨的财富。投资真正的敌人不是别人，而是自己，而自己最大的敌人，就是我们往往不具备长期主义的眼光。不难想象，在不少年份I B M的股价上涨幅度是大于标准石油公司的，但是60年下来，差距就拉开了。虽然，60年的时间周期，对于我们投资人来讲是过长了些，因为一个人即使是从20岁开始投资，60年过去了，他就80岁的高龄了，所以，对于很多的投资人来讲，这个时间周期是有点长。但是这个事例也告诉我们，投资要尽量往长远看，比如看未来十年，甚至更长的时间，以这样的长期主义眼光去甄选投资标的，有时我们反而会更容易看清投资的真谛，正所谓“近的迷茫，远的清楚”。2、股权思维先生与股价思维先生的分野股权思维先生与股价思维先生的分野，就在于你究竟是以获取优质股权为目的，还是以获取短期的股价上涨为目的，从这一点上，就完全可以看出来了。我观察到的事实是，市场上绝大多数人深入骨髓的并不是股权思维，虽然他们表面上总是这样说，甚至心里自己也是如此认为，但实际上他们骨子里还是股价思维，因为他们买入投资标的之后，最企盼的就是股价上涨再上涨。但在我个人看来，买入之后总是盼着股价上涨是不正确的。因为股权思维先生是以获取优质股权的“量”为最终目的，因为决定我们人生财富最终起决定性作用的是“量”，而不是一时上涨的“价”。因为就我们绝大多数人来讲，我们投资的资金是不断流入市场的，即便后续没有资金了，还完全可以分红再投资，而若股价涨太快太高了，就如同I B M最终胜不过标准石油公司一样，对于我们获取更多优质股权来讲，只能是一种长期的伤害。3、分红再投资的重要性标准石油公司之所以成为长期赢家，主要是两点，一是估值差距，二是股息高，而这两点是相关联着的。所以，投资组合中要有一些分红率高、股息率高的品种，这对于我们个人投资者来讲，是十分必要的。在投资的早期，我对一家公司分红与否并不是太在意的，但是投资时间越长，我反而更意识到其中的重要性，因为分红再投资本身就是一种复利。公司的股价掉下来，我完全还可以利用分红再投资，其股价低迷时间越久，将来积攒的股份会越来越多。而若它们的股价上涨太高太快了，反倒不好办了。想通了这一点，对其股价一时下跌，还有何惧哉？4、萎缩的行业未必不出长牛股投资还是要讲究一些辩证法的。标准石油公司之所以不被看好，主要原因还是这个行业是萎缩的，所以造成了其长期估值较低。西格尔在书中，还披露了一个数据，就是自1926年至2021年美股表现最好的股票是菲利普·莫里斯，如今的公司名称为奥驰亚集团。它九十五年时间的年收益率为16.02%。如此长的时间，居然保持如此高的年化收益！多年来，菲利普·莫里斯经历了一系列针对香烟制造商的联邦和州的诉讼案，损失了近1000亿美元，濒临破产。这使得它的股价持续低迷了近10年。不过，公司还是有持续的现金流进账，也坚持进行分红。低迷的股价使股东可以用分红的钱，继续买入更多便宜的份额。逐渐地，对坚持持有的投资者来说，他们持有的股票变成了一堆黄金。其实不只是菲利普·莫里斯，对于整个烟草行业来说，表现都很不错。从1990年至2014年底，投资到整个股市的1美元平均能获得9.6%的年收益率，但投资到烟草行业的1美元同期能获得14.6%的年收益率，是市场整体的160倍以上。他山之石，可以攻玉。由此我想到了中国白酒，长期关注研究白酒行业的投资者知道，就整个产量而言，中国白酒的产量是萎缩的，但就我个人的私心来讲，我企盼着茅台未来成为“中国的菲利普·莫里斯”。但投资这东西，就如同自己一个人踽踽地在时光隧道中穿行，并依靠自己的独特认知，能够依稀看到未来若明若暗的丝丝光亮，进而引导着自己坚定前行。

George Tsilis provides instant analysis of IBM (IBM) and Servicenow (NOW) earnings, and what it might spell out for the tech sector moving into the middle of this earnings season. ======== Schwab Network ======== Empowering every investor and trader, every market day. Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6D Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Tesla ($TSLA) celebrará su evento "We Robot" esta noche, donde se espera que presente avances importantes en tecnología autónoma. Aunque Tesla ha mantenido en secreto el diseño de su robotaxi, se especula que mostrará un nuevo modelo más económico, un "robovan" capaz de transportar hasta 12 personas, una versión mejorada del robot humanoide Optimus y otros casos de uso de inteligencia artificial. Analistas como Dan Ives de Wedbush anticipan que Tesla revelará tecnologías autónomas revolucionarias, pero existe el riesgo de decepcionar a los inversores si no se cumplen las expectativas. IBM ($IBM) recibió atención después de que RBC Capital Markets aumentara su precio objetivo a $250, citando una mejora en el sentimiento hacia la empresa. A pesar de una ligera caída en las acciones antes de la apertura del mercado, el analista Matthew Swanson mantuvo su calificación de "Outperform". Se espera que IBM presente sólidos resultados de flujo de caja libre en su informe del tercer trimestre, impulsado por mayores ventas de software, especialmente de Red Hat, y un rendimiento positivo en inteligencia artificial generativa y gastos de infraestructura. Amazon ($AMZN) and Apple ($AAPL) have reached an agreement to offer Apple TV+ as an add-on subscription to Amazon's Prime Video service in the U.S. starting later this month, priced at $9.99 per month. This partnership allows Apple to further expand its streaming reach as it competes with larger platforms like Netflix ($NFLX), Disney+ ($DIS), and Amazon Prime Video itself. The deal also marks a shift for Apple, which typically bundles Apple TV+ with other services, and will allow subscribers to access popular original content like Ted Lasso, The Morning Show, and live sports, including MLS matches. United Airlines ($UAL) está planeando una expansión internacional significativa para 2025, con nuevas rutas a destinos poco comunes como Senegal, Mongolia, Groenlandia y Palaos, buscando atraer a viajeros que desean alternativas a ciudades tradicionales como París, Roma y Tokio. Los nuevos servicios incluirán vuelos desde Newark a Palermo, Faro, Madeira, Bilbao y Nuuk, que comenzarán entre mayo y junio. Además, United lanzará vuelos directos desde Washington Dulles a Dakar, Senegal, y desde Tokio a Ulán Bator, Mongolia, con vuelos durante todo el año a Palaos. Esta expansión es parte de la estrategia de United para diferenciarse de otras aerolíneas globales ofreciendo una red diversa de destinos, lo que también impulsa la demanda de sus tarjetas de recompensas. -Stellantis ($STLA) se espera que haga algunos cambios en la gestión. -Las proyecciones de OpenAI ($AI) sugieren que no habrá beneficios anuales hasta 2029. -TD Bank ($TD) enfrenta multas de $3 Billones y un límite de activos en un acuerdo en EE. UU. -El huracán Milton pone en riesgo $30 Billones de deuda municipal en Florida.

Welcome to another deep dive with OVTLYR! In this video, we break down our last two weeks of trading, where we completed 13 trades, winning 11 and losing only 2. You'll see live analysis of trades like Walmart (WMT), IBM (IBM), and more. Our "Master Key" strategy has delivered an 81% win rate for 2024 and a 94.75% YTD return. Learn how OVTLYR uses advanced behavioral analytics to identify high-probability trades, minimizing losses and maximizing returns. This proven strategy has been delivering market-beating results over two years. Whether you're new or experienced, this video is packed with actionable insights to improve your trading. Don't miss out—like, subscribe, and join our community for more! Key Takeaways: OVTLYR's 81% win rate and 94.75% YTD return show how effective the "Master Key" setup is for identifying high-probability trades. This isn't just a short-term success—it's a strategy that's been delivering consistent, market-beating results. If you're ready to improve your trading game, this video is for you. Have questions? Drop a comment or join our Discord. See you in the next video!

据东方财经报道，8月26日，有网友发视频称：“8月24日，从贵阳飞上海的一架飞机上，有两位大妈因为忍受不了一位一岁多的小女孩哭闹，直接把小女孩从奶奶身边强行带走，然后关到飞机厕所里教育。”东方财经询问了吉祥航空客服，对方表示，“我们这边也收到通知了，内部正在核查中。陌生人去抱走小孩属于个人行为，无法提前预判。“36氪获悉，近日，宁波吉利乘用车制造有限公司成立，法定代表人为淦家阅，注册资本5亿元，由浙江吉利控股集团有限公司全资持股。据央视新闻报道，全国各大院校开学在即，8月26日至9月10日，铁路将迎来学生客流高峰，预计发送学生旅客650万人次。据第一财经报道，IBM将彻底关闭中国研发部门，涉及员工数量超过1000人。IBM中国在回应关于研发部门裁员的消息时称：“IBM会根据需要调整运营，为客户提供最佳服务，这些变化不会影响我们为大中华区客户提供支持的能力。”据央视财经报道，目前日本核污水第八轮排海正在进行中，预计将于8月27日结束，8轮累计排放量将达到62500吨。36氪获悉，特斯拉中国官网显示，Model 3和Model Y部分车型限时5年0息活动的截止日期由8月31日延长至9月30日。

Here's what is happening in the markets today, Monday July 22nd S&P 500 has worst week since April Tech sell-off: Amazon (AMZN),  Intel (INTC), Microsoft (MSFT) and Apple (AAPL) lost more than 3% last week Biden exits 2024 race; Endorses Kamala Harris This week: Fed favorite inflation gauge Core PCE Earnings Season continues: Coca Cola (KO), Google (GOOGL), Tesla (TSLA) and IBM (IBM) reporting earnings PLUS: How we trade these markets and our current positions This wraps up today's stock market news. If you enjoyed the "Stock Market Today" episode, make sure to subscribe to this podcast.  And for more stock market news,  visit our YouTube Channel: https://youtube.com/rockwelltrading2008 #todaysstockmarket #stockmarkettoday #stockmarket

A rapid-fire, insightful look at breaking earnings from IBM ($IBM) as we hear from CEO Arvind Krishna. More than “beat” or “miss” –the Drill Down Earnings with Futurum Group chief market strategist Cory Johnson has the business stories behind stocks on the move.    https://x.com/corytv #IBM #Earnings @IBM $IBM #Technology #Software #CloudComputing #Chips #AI #ArtificialIntelligence #Semiconductors #Stocks #Trading #Business @DrillDownPod Learn more about your ad choices. Visit megaphone.fm/adchoices

《馬力歐陪你喝一杯》節目製作邁入第八年！喝一杯經典「人物故事訪談」繼續耕耘，陸續探索這世界有趣的靈魂們！ ▲本集內容 本集來賓：蔡玉玲，我們都叫他Jaclyn，曾任9年法官，離開後去IBM，一路做到IBM大中華區法務長，之後和她先生一起創辦律師事務所，擅長處理科技法律、併購、技術授權或移轉的案件。2013年11月，受邀入閣擔任行政院政務委員，是當時少數的女性閣員之一。 馬力歐跟Jaclyn認識的因緣，是在318學運之後，透過朋友介紹而認識，介紹我們的朋友之前也訪談過，就是剛上任的新科立委葛如鈞寶博士。 訪問先從Jaclyn為什麼會走入法律開始，沒想到原來小時候就有人算命說她會當法官，果然她也真的很喜歡法律，也無法抗拒當法官是有機會真正追尋公平正義，也提到她很年輕擔任法官時，有什麼樣的心得。 Jaclyn說，在法院看盡人生百態，還有其實官司兩造多半是認識的。她也提到，曾經有個判死刑的案件，讓她非常沉重和糾結，這故事由她輸給你聽。 另外，Jaclyn離開法院去IBM，她說收穫很多，而且當時公司也積極培養她，不過她後來因為不想在孩子成長過程中沒有記憶，所以選擇離開並自己創業成立事務所，但她強調，並不是社會認為母親為主要照顧者，所以無法繼續事業，而是她真正認為，從孩子生命中缺席，會是她的損失。 創業成立事務所，是跟她的先生一起，跟好友創業就已經可能會太親近而有糾紛，跟自己伴侶一起創業，好像更令人擔心，為什麼當時她會跟自己先生一起創業呢？ 創業之後是怎麼分工，讓公司可以好好運作呢？後來，她加入行政院擔任政務委員，政務委員的工作是什麼？她覺得自己在政府部門，又完成了什麼很不錯的結果呢？ ▲這集我們與蔡玉玲聊了： (00:02:43) 為什麼會想走法律？ (00:11:36) 九年法官，印象深刻的案子？ (00:23:35) 大學畢業就皈依佛門的原因？ (00:27:13) 法官卸任，為何選擇去IBM當法務長？ (00:38:14) 創辦律師事務所的起點？兩人如何分工？ (00:52:44) 那一晚為何決定跟先生創辦律師事務所？ (01:01:05) 行政院政委，到底在做些什麼事？ ✉️我們即將推出全新單元「管理QA信箱」！在這個單元中，馬力歐將親自回覆你在職場管理上，所面臨的疑難雜症與困境。​無論你是職員，不懂主管的想法與決策，還是到底如何與主管溝通討論；或是身為主管的你，在團隊中遇到的溝通挫折與決策難題，都歡迎點選下面表單連結提出，就有機會讓馬力歐在節目中回覆他的想法：https://forms.gle/qQte5nG26ULpdfgQ6 ▲本集使用的音樂：Impressions (Acoustic) by Robert Alan DunnCreative Commons CC BY SA 3.0Robert-dunn-15 – Impressions-acousticSee omnystudio.com/listener for privacy information.

Noctua News | T06 E12 | Adobe rompe con Figma, Affirm, Google Play (AppStore) y YouTube (Noticiario) TECNOLOGÍA: Adobe ($ADBE), Figma, Google ($GOOGL), IBM ($IBM), Snowflake ($SNOW), Affirm ($AFRM), Microsoft ($MSFT), Amazon ($AMZN), Okta ($OKTA), Anthropic, Zulily, LinkedIn, Nvidia ($NVDA), Lightmatter, Intel ($INTL). MEDIA: YouTube ($GOOGL), Netflix ($NFLX) y datos #Nielsen, Amazon ($AMZN), Disney ($DIS), streaming. GAMING: Tencent (HKG:0700). MOVILIDAD: Tesla ($TSLA). CIBERSEGURIDAD: Hackeo #InsomniacGames, Comcast ($CMCSA). Noctua News es una iniciativa de Andromeda Capital EAF (⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.andromedacapitaleaf.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠) que tiene como objetivo mantener informado a sus oyentes a través de una selección de las noticias más relevantes del mundo de la tecnología y las finanzas. Andromeda Capital EAF es un fondo de inversión que pueden contratar dentro de Renta4 Banco, no tiene compromiso de permanencia, y el importe mínimo es simbólico, de 10 euros.Pueden comentar estas y otras noticias a través del canal de Andromeda Capital EAF en Slack: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://t.co/NIFlSC1qv0?amp=1⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Noctua News también está disponible en los siguientes canales: - Spotify: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://open.spotify.com/show/2MsYqOVZszLcG5xL2X8Z7K⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Apple Podcats: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://podcasts.apple.com/es/podcast/noctua/id1459028425⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Anchor: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://anchor.fm/noctua⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Google Podcast: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy9hMGUzNjBjL3BvZGNhc3QvcnNz⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - iVoox: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.ivoox.com/podcast-noctua_sq_f1702277_1.html⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠ Pueden contactar con Andromeda Capital EAF: - por email en ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠info@andromedacapitaleaf.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - en la página web ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.andromedacapitaleaf.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - en redes sociales (Twitter (@andromedavalue), Instagram (@andromedavaluecapital), LinkedIn, Facebook) y en el canal de slack Presentadores: - Flavio Muñoz: LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/flaviomunoz/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: @FlavioMunozM - Juan de Dios Gómez Gómez-Villalva: LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/juandegomezgv⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: @JuandeGomezGV Colaboradores: Silvia Lanzarote Vargas

Top Lithium and Hydrogen Stocks. Prepare for a carbon-free future with these lithium and hydrogen stocks. Investors like these socially responsible ESG ETFs and funds. Transcript & Links, Episode 114, September 22, 2023 Hello, Ron Robins here. So, welcome to this podcast episode 114 titled “Top Lithium and Hydrogen Stocks.” It's presented by Investing for the Soul. Investingforthesoul.com is your site for vital global ethical and sustainable investing mentoring, news, commentary, information, and resources. And look at my newly revised website at investingforthesoul.com! Tell me what you think. Now, remember that you can find a full transcript, and links to content – including stock symbols and bonus material – on this episode's podcast page located at investingforthesoul.com/podcasts. Also, a reminder. I do not evaluate any of the stocks or funds mentioned in these podcasts, nor do I receive any compensation from anyone covered in these podcasts. Furthermore, I will reveal to you any personal investments I have in the investments mentioned herein. Additionally, quotes about individual companies are brief. Please go to this podcast's webpage for links to the actual articles for more company and stock information. Also, some companies might be covered more than once and there is also 1 article link below that time didn't allow me to review here. ------------------------------------------------------------- 1) Top Lithium and Hydrogen Stocks Now many ethical and sustainable investors are excited about investing in battery metals, so I thought to begin this podcast with this article. It's titled What are the top five largest lithium companies in the world? It's by Joseph Morton and found on mugglehead.com. Here's some of what he has to say. “1. Ganfeng Lithium (SZSE: 002460) (SEHK: 1772) Largest lithium salt producer in China, and third in the world Ganfeng Lithium is a global company specializing in the production of lithium, lithium-based products, various metals and batteries. Established by Li Liangbin in the year 2000, the company is headquartered in Xinyu, Jiangxi, China and operates both domestically and internationally… With a market capitalization of approximately $35 billion, it holds a significant presence in the lithium industry. The company doesn't just have one property, but instead actively engages in overseas investments in lithium companies and projects as part of its strategy to secure long-term competitive resources. The company holds ownership of three lithium brine projects located in Argentina and serves as the largest shareholder of Lithium Americas (TSX: LAC) (NYSE: LAC). 2. Albemarle (NYSE: ALB) World's largest supplier of lithium for EV Albemarle Corporation is a U.S.-based specialty chemicals manufacturing company headquartered in Charlotte, North Carolina. The company operates in three main divisions: lithium, bromine specialties, and catalysts… When it comes to global lithium and lithium storage product production, Albemarle, along with lithium companies SQM  Sociedad Quimica y Minr de Chile SA  (NYSE: SQM) and Livent Corporation (NYSE: LTHM), collectively account for slightly over half of the total production. Meanwhile, just under half of the world's lithium supply is produced by various entities within China. Greenbushes in Western Australia is one of Albemarle's largest projects. It's a joint venture mine shared with Talison Lithium, a subsidiary of the Tianqi Lithium Corporation (SZSE: 002466) (SEHK: 9696)… Albemarle's market capitalization is roughly $30 billion. 3. SQM (Sociedad Quimica y Minera de Chile SA) Largest lithium producer in the world (SQM) is a Chilean chemical company renowned for its role as a prominent supplier of plant nutrients, iodine, lithium and various industrial chemicals… For the fiscal year 2019, SQM reported lithium-related revenues amounting to USD$505 million. Notably, in 2021, the company witnessed a substantial increase in its lithium revenues, reaching a total of USD$936.1 million. 4. Tianqi Lithium Controls over 46 per cent of global lithium production The Tianqi Lithium Corporation hails from Sichuan, China, and operates primarily in mining and manufacturing… The company has a market cap of approximately $16.5 billion. 5. Mineral Resources (ASX: MIN) Operates two significant properties in Western Australia In recognition of its significant market presence and capitalization, Mineral Resources earned a coveted spot in the S&P/ASX 50 in June 2022, designating it as one of the 50 largest companies trading on the ASX. Its market capitalization is in the range of $11 billion. Mineral Resources operates primarily in the iron ore sector, but is also actively engaged in the mining of hard rock lithium, with operations in two significant locations within Western Australia: Mount Marion in the Goldfields and Wodgina in the Pilbara.” End quotes. ------------------------------------------------------------- 2) Top Lithium and Hydrogen Stocks A second article with a related theme is this one titled EV Stocks vs. Battery Metal: Which Green Investment Should You Choose? It's written by Adam Othman and seen on fool.ca. Here's some of what Mr. Othman says. “1. Lion Electric (TSX:LEV) … is a $559.76 million market capitalization vehicle manufacturer, primarily focusing on the production of electric school buses, trucks, and other commercial vehicles. With little competition in the EV space in Canada, its focus on commercial EVs gives it a niche it can enjoy without competing against industry giants… That said, it is not a profitable company right now… Despite its small presence, this EV stock can deliver stellar long-term returns as the broader industry grows. 2. American Lithium (TSXV:LI) … is a metals and mining company primarily engaged in the exploration stage. The Canada-based company focuses on acquiring, exploring, and developing lithium deposits. A small name in the mining industry, it has a $450.78 million market capitalization. American Lithium stock is not the biggest Canadian lithium stock, but it's worth watching closely.” End quotes. ------------------------------------------------------------- 2 Canadian ESG Stocks for Ethical Investors Diversifying internationally is often considered a good idea, hence I bring these articles from Canada, for investors both inside and outside Canada. This article is titled 2 Canadian ESG Stocks for Ethical Investors. It's by Christopher Liew and also found on fool.ca. These are some comments by Mr. Liew. “1. Capital Power Corporation's (TSX:CPX) mission is to provide responsible energy to the world. The $4.7 billion growth-oriented company is well-positioned to support the low-carbon energy system. Its thermal and renewable assets have a combined generating capacity of around 7,500 MW. On March 13, 2023, Ethisphere named the Edmonton-based power producer one of the World's Most Ethical Companies for the fifth straight year… In the first half of 2023, revenue and net income rose 76.9% and 88.7% year over year respectively to $2.1 billion and $370 million. Capital Power has raised dividends for 10 consecutive years and provided dividend growth guidance of 6% annually through 2025. Capital Power pays a hefty 6.12% dividend. 2. Magna International Inc. (TSX:MG) is at the front and centre in the automotive industry's drive to deliver more electric vehicles (EVs). The Canadian auto parts maker raised its sales forecast for fiscal 2025 because of the sustained, if not increasing, demand for parts, sensors, and electrified powertrain systems. The $22.8 billion company's primary goal is to create a better world of mobility and achieve net-zero by 2050. According to its CEO, Swamy Kotagiri, Magna can achieve the target by addressing the emissions in their manufacturing facilities and the entire supply chain… Magna will use 100% renewable electricity in Europe and globally by 2025 and 2030, respectively… In the first half of 2023, Magna's sales rose 14% year over year to US$21.7 billion, while income jumped 128% to US$548 million… Magna also pays a decent 3.06% dividend.” End quotes. ------------------------------------------------------------- 3) Top Lithium and Hydrogen Stocks Now this next article talks about the opportunities in the hydrogen industry. It's titled These 2 Dividend Stocks Are Investing in This Niche Industry. Should You Do the Same? It's by James Brumley and found on fool.com. Now here are some quotes from Mr. Brumley. “Market veterans will likely recall that hydrogen fuel cell stocks like Plug Power (PLUG) and Ballard Power Systems (BLDP) were all the rage at one time. This alternative energy was going to change the world, after all. And then, nothing happened. As it turns out, the world wasn't quite ready for fuel cells. This industry's stocks have mostly struggled for the past couple of decades. You might want to put these tickers back on your radar, though. A couple of major oil companies recently made investments in hydrogen-based power solutions, thinking the movement will eventually displace the oil and gas business… Chevron (CVX) recently acquired a majority stake in a young company called ACES (Advanced Clean Energy Storage) Delta, while BP (BP) just led a wave of funding for Advanced Ionics, which develops energy-efficient electrolyzers that ultimately generate hydrogen, which can then be converted into electricity… Carmakers are on board, too, and have been for a while. They're ramping up development, and Toyota (TM) is leading the way. With its hydrogen engine technology now well refined, the company hopes to sell 200,000 such vehicles by 2030. If the concept proves successful, look for other automakers to augment their current EVs with yet another alternative to carbon-fuel cars. Pragma Market Research estimates the world's hydrogen-powered vehicle market will swell from last year's $1 billion to more than $43 billion by 2030… One hydrogen fuel cell stock to buy now So if hydrogen fuel cells and hydrogen power in general are finally moving into the mainstream, which of the related stocks are worth owning? The aforementioned Ballard Power Systems and Plug Power are two tickers at least worth adding to your long-term watch list. Anyone interested in jumping into the hydrogen power movement at its current stage, however, might do best with… Bloom Energy (BE) It's not one of the more familiar names in the business, although it arguably should be. It's a $3.5 billion organization, and while not currently profitable, it's nearing that point. In fact, the analyst community is calling for a swing to a per-share profit of $0.39 on revenue growth of 30%. Then things are projected to really start to take off… Bloom's systems are also readily scalable, meaning their users can fine-tune the amount of power they're producing, and then add or subtract capacity as needed. Its customers include Honda Motor (HMC), Alphabet's Google (GOOG), Walmart (WMT), and IBM (IBM). The advent of artificial intelligence and the giant data centers it requires is proving a particular boon for Bloom. Although most of its customers only need these fuel cells for backup power now, as hydrogen production initiatives like BP's Advanced Ionics and Chevron's ACES Delta gain traction, don't be surprised to see hydrogen fuel cells evolve into a primary power source… The only catch with Bloom or its rivals? Buckle up for plenty of continued volatility, and be prepared to hang on to any of these stocks for a while. Hydrogen power is here to stay, but it's hardly on a reliably firm footing yet.” End quotes. ------------------------------------------------------------- 7 Best Socially Responsible Funds Now our last article brings us back to familiar territory. It's titled 7 Best Socially Responsible Funds. It's by Jeff Reeves and found on money.usnews.com. Here is a quote from Mr. Reeves and his picks. “There are no easy answers when it comes to how to invest in a world like this. But thankfully, there are a group of socially responsible funds out there that try to focus your cash behind some of the better companies and leave out some of the bad actors. It's not perfect, of course, and the goal of most investors remains to make money and not just feel good about their portfolio. That said, the following investments are well-established and diversified ways to invest with environmental, social and governance priorities in mind – or ESG for short. FUND ASSETS EXPENSE RATIO iShares ESG Aware MSCI USA ETF (ticker: ESGU) $12.8 billion 0.15% Vanguard ESG U.S. Stock ETF (ESGV) $6.8 billion 0.09% Nuveen ESG Large-Cap Growth ETF (NULG) $1.3 billion 0.26% Nuveen ESG Large-Cap Value ETF (NULV) $1.6 billion 0.26% iShares ESG Aware MSCI EAFE ETF (ESGD) $7.3 billion 0.20% iShares Global Clean Energy ETF (ICLN) $3.5 billion 0.41% Parnassus Core Equity Fund (PRBLX) $27.4 billion 0.82%” End quotes ------------------------------------------------------------- One Other Honorable Mention Title: Solar Power Stocks: The Winners and Losers of 2023 So Far on barrons.com. By Avi Salzman. ------------------------------------------------------------- Ending Comment Well, these are my top news stories with their stock and fund tips -- for this podcast titled: “Top Lithium and Hydrogen Stocks.” Now, please be sure to click the like and subscribe buttons on Apple Podcasts, Google Podcasts, or wherever you download or listen to this podcast. That helps bring these podcasts to others like you. And please click the share buttons to share this podcast with your friends and family. Let's promote ethical and sustainable investing as a force for hope and prosperity in these very troubled times! Contact me if you have any questions. Thank you for listening. And, again, please look at my new totally revised website at investingforthesoul.com. Tell me what you think! Talk to you next on October 6th! Bye for now.   © 2023 Ron Robins, Investing for the Soul

:: 哈佛人物面對面 ::

격동500년 S9E06 도전과 혁신의 아이콘! 리사 수. 1) 이민과 성장기 - 태어난 고향과 미국 이민 후의 생활 - 부모님의 교육열과 학창시절의 피아노에 대한 열정 2) 대학 시절과 대학원 시절 - 대학 입학과 반도체 기술과의 만남 - 1980년대 후반 미국 반도체 산업에 대한 관심과 분위기 - 대학원 시절 SOI 기술에 대한 연구 3) 취업과 IBM 시절 - 리사 수의 취업과 직장생활 - IBM 시절, 구리 도선 도입 연구 - 셀 개발에 대한 참여와 업계 파트너들과의 만남 4) AMD 이직과 경영자로서의 성공 - AMD의 역사와 2010년대 중반의 어려움 - 리사 수 시절 AMD가 되살아난 까닭으로 자주 언급되는 3대 원인 * 소설 같은 순간 과학과사람들 제공

Morgan Stanley (MS) is to cut 3K more jobs. Jenny Horne discusses this as the World Economic Forum sees 23% of all jobs changing due to A.I. over the next 5 years. Around 75% of surveyed companies plan to adopt A.I. tech over 5 years. She also talks about how IBM Corp. (IBM) is to pause hiring. Tune in to find out more about the stock market today.

Dave Snowden is the Chief Scientific Officer of Cynefin. Head of Knowledge Management for 30 years. Author of Cynefin - Weaving Sense-Making into the Fabric of Our World (https://tinyurl.com/4958x362)   When did knowledge management start in the 90s? The ultimate disciplinary field What is intellectual capital? Intellectual property What is the anarcha book? Knowledge management is information management What is relevant knowledge? What is messy coherence? What is exaptive innovation? How do you add value to organizations? Focus What is the difference between teleological idealism and realism? What is the KM process? Find out what is keeping middle management awake at night Do not want to be a CEO pet project How do you map what a company already knows? How do you map current knowledge from the things that keep people awake at night? Where are we on the cycle now? At the early stage of the hype cycle What is complexity theory? How do you map the unknown unknowns of a company? How do you create resiliency within an organization? How do you build informal networks across the organizations? European field guide on complexity management Does getting involved with tactics take away from strategy? Trying to make the cost of virtue greater than the cost of sin? How has knowledge management changed with Covid and remote work? How do you replicate pheromones in a remote environment? What are hexis? How does knowledge transfer work? How do you make decisions that keep options open? How do you create processes that stop ambiguity? Why are stories of linear processes greatly exaggerated? How do you deal with too much information? Focus on connecting people and storing information Entangled trios with task from different groups Run that every three months Secret is not to take an information centric approached Knowledge is only ever volunteered, not conscripted We always know more than we can say and we can always say more than we can write down What is necessary ambiguity? What is the role of narrative when it connects tacit to explicit information? Narrative asks you questions that make you think differently Lessons learning rather than lessons learned 90% of knowledge is walking out the door The danger of machine learning is dumbing down how we know things THE RIGHT SOURCE DATA IS THE KEY Machine learning is inductive  Feed ML better training data How did you get the role at IBM at knowledge management? Institute for knowledge management at IBM IBM center for complexity studies  How do you measure knowledge management? outcome/ouput measures Fine with predictable systems Outcomes produce a perverse incentive Vector measure for intensity of effort How do you structure KPIs? What are the power dynamics of exchange? Fear of abuse is the main reason people seek knowledge in organizations Art comes before words before human language Semiotics is symbols and signs UK is the most mapped country in the world We need renaissance instead of an enlightenment What is catholic with a small c? How do knowledge processers in goods work? What are things we need to know about oral tradition? What did you learn about debating without  What is a scientific model of rationality? What do we know about how humans make decisions? Adjacent possible, the frozen 2 strategy Avoid at all costs defining KM ideals Identify 30 micromodels Putting these into a matrix with knowledge  Less about me as an expert trying to understand How do you respect human judgment? What are the wrong cognitive models? What is assemblage? How is culture inherited? What is morphic resonance? What is the connection between culture and epigenetics? Eva Djblonka books on epigenetics Eva Jablonka How does RNA change epigenetics? Do humans work at the quantum level? What do you know about quantum biology? How do you reduce things to the smallest granularity possible? What is messy coherence? Why is the internet spreading clusters of prejudice? What is an assemblage structure? What is it like to be converted catholic rather than born that way? What is the relationship between abstractions and religion? What is a poly crisis? Exaptation  How is China distributed in its decision-making? What are microsacrfices? How do you change the ideation culture?  

FTX's (FTT-USD) Bankman-Fried arrested in Bahamas, country says. Has inflation peaked? What to watch in today's CPI report. IBM (IBM) and Rapidus join hands to build semiconductor technology and ecosystem in Japan.

「Mr. CEO，根據IBM的企業資安健檢系統預判，您的資安環境將遭遇駭客入侵。」IBM技術長莊士逸指出，他們曾經對某家科技製造廠層峰進行電腦資安檢測，發現出現資安疑慮，不過廠商回應，「已經做好防堵，不可能!」，結果兩星期後，駭客真的入侵。目前這家高科技廠已經接受IBM資安維運建議，防杜新的風險繼續發生。至於IBM如何預測得悉?本集節目邀請莊士逸分享，歡迎收聽。

「Mr. CEO，根據IBM的企業資安健檢系統預判，您的資安環境將遭遇駭客入侵。」IBM技術長莊士逸指出，他們曾經對某家科技製造廠層峰進行電腦資安檢測，發現出現資安疑慮，不過廠商回應，「已經做好防堵，不可能!」，結果兩星期後，駭客真的入侵。目前這家高科技廠已經接受IBM資安維運建議，防杜新的風險繼續發生。至於IBM如何預測得悉?本集節目邀請莊士逸分享，歡迎收聽。此外，您還可以聆聽的其他重點內容包括:.黑天鵝漫天飛舞，國內企業數位化轉型遭遇的挑戰.台灣企業如何進行混合雲完整佈局.IBM為企業數位化構築的與時俱進整合內容.IBM如何以ESG訴求，協助合作夥伴追求整體效益？

A Summit Insights analyst says that Lam Research (LRCX) is well positioned in the longer term. George Tsilis discusses LRCX, Tesla (TSLA), IBM (IBM), and American Airlines (AAL). He notes that Tesla is falling after earnings, as its 3Q energy generation and storage revenue came in at $1.12B. IBM reports better-than-expected earnings, and is compared to other legacy tech stocks such as HP (HPQ), Oracle (ORCL), and Xerox (XRX). Finally, American Airlines beat earnings expectations. Tune in to find out more about today's market movers.

【百富 一心一藝 說來聽聽】百富秉持一心一藝精神，打造全新聲音紀錄片【 一心一藝 說來聽聽】Podcast，聲入創作現場，揭露創作者的動人故事。邀您聆聽藝術家范承宗，如何跳脫傳統造藝工法，開創屬於他的新世代智慧結晶！即刻收聽： https://link.fstry.me/3VfCLTu —— 以上為 Firstory DAI 動態廣告 —— 美國總統拜登，6日訪問IBM的紐約廠，高喊華府致力補貼美國半導體晶片製造等措施。而IBM也計劃在未來10年，在紐約哈德遜河谷地區，投資200億美元，用於建造與發展半導體。美方努力追趕的同時，也拚命圍堵中國的野心。根據路透社報導，華府打算擴大限制美國企業，半導體製造設備，出口中國。這是否讓在中國設廠的南韓三星等企業，掃到「颱風尾」？ 聽眾五星留言+訂閱

Big tech, now known more commonly by names such as Apple and Amazon, used to simply be ‘IBM'.  International Business Machines began a huge wave of computer science innovation and ushered the world into a new era. Today we discuss the history, business model, and financials of IBM, and whether or not the stock might make a good investment.0:00 - Big Blue0:50 - How Did IBM Get Started?6:30 - IBM's Business Model8:06 - Financials

The numbers are just going to stay high, says Dan Genter. He discusses the takeaways from the Fed's rate hike decision. He also talks about stock picking in the current market environment, highlighting IBM (IBM). He then goes over his health care stock picks which include Bristol-Myers Squibb (BMY), AbbVie (ABBV), and Medtronic (MDT). Tune in to find out more.

Here's what is happening in the markets today, Thursday, April 21st Stocks mixed:: Dow up and Nasdaq down Earnings rollercoaster continues Netflix (NFLX) is getting crushed: down 35% IBM (IBM) and Procter & Gamble (PG) move the Dow higher Tesla (TSLA) and United Airlines (UAL) reported earnings after the bell … and much more PLUS: Here's what we traded yesterday This wraps up today's stock market news. If you enjoyed the "Stock Market Today" episode, make sure to subscribe to this podcast. And for more stock market news, visit our YouTube Channel: https://youtube.com/rockwelltrading2008 #todaysstockmarket #stockmarkettoday #stockmarket

La Universidad Metropolitana incorpora el programa IBM Skills Academy para formar a futuros profesionales en Inteligencia Artificial, Ciberseguridad, Cloud y Blockchain Los profesores de la Universidad Metropolitana recibirán formación de expertos de IBM en tecnologías y metodologías disruptivas, lo que les permitirá, además de estar preparados para potenciar las habilidades de los estudiantes en el aula digital, ofrecer programas de formación en estas áreas digitales emergentes. Los estudiantes también tendrán acceso a recursos y materiales actualizados para desarrollar sus habilidades. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/it-news-latinoamerica/message Support this podcast: https://anchor.fm/it-news-latinoamerica/support

As markets are rattled by inflation and interest rates, the Federal Reserve weighs its options with a statement to be released on Thursday morning. Fonterra (FCG) ups its forecasted milk price payout to farmers, but keeps an eye on rising costs. IBM (IBM) refocusing on its cloud business appears to have paid off with the company beating revenue expectations. www.sharesies.com For more share market news, subscribe to Lunch Money, Sharesies' bite-sized email update: https://www.sharesies.nz/lunch-money If you'd like to get in touch, for any reason at all, email recap@sharesies.co.nz or record a voice message: https://anchor.fm/sharesies2/message. Investing involves risk. You aren't guaranteed to make money, and you might lose the money you start with. We don't provide personalised advice or recommendations. Any information we provide is general only and current at the time. For specific advice, speak to a licensed financial advice provider

EP284 - 2022 Annual Predictions h 2021 Predictions Recap Jason: Made to Order apparel business > 9 figures Yes Retailer offers viable health alt insurance option to consumers No Grocery E-Com > 10%  someone deploys(not pilots) MFC Yes Amazon Shopify Competitor (shipping solution) No Retail Media > $20B Yes Bonus – More store closures in 2021 than 2020. No Jason Total Score: 3 of 5 Scot: Amazon move to same day prime by opening a huge wave of neighborhood DCs (near DSPs) Yes Shipping (Shopify) – launch own DSP No Shopify marketplace No ‘zero friction addiction' sticks – I've seen 30-40% repeated a lot, I think it's 60-80%. commerce penetration says at 16% or better in 2021. Yes spac/ipo? Dnvb wave Yes Bonus: post-covid anti-consumerism/materialism wave No Scot Total Score: 3 of 5 We have a tie, including the tie-breaker. Here are some relevent links: eMarketer recap of Retail Media Networks Bricks Meets Clicks analysis of digital grocery space 2022 Predictions Jason: NFTs, Web 3, Metaverse, and Ultrafast delivery services are all overhyped and don't deliver meaningful commerce revenue in 2022. Shein exceeds $30B in annual sales, disrupting apparel industry Adoption of BNPL services slows down to less than 15% CAGR in 2022. Amazon opens more than 100 Amazon Fresh grocery stores Last Mile evolves Veho, X-Delivery, shipium, or Instacart gets aquired Scot: Amazon launches a competitor to Shopify webstore, possibly via a headless solution on AWS Amazon wins ultra-fast delivery. Gopuff, Gorilla, or  Jokr goes out of business in 2022 Metaverse gets lots of buzz but no revenue Livestream commerce goes mainstream in the US  Fabric gets acquired Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 284 of the Jason & Scot show was recorded on Thursday, January 6th, 2022. ttp://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: [0:23] Welcome to the Jason and Scot show this is episode 284 being recorded on Thursday January sixth 2022 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 Scott she listeners happy New Year Jason and listeners it's 2022 here we are we made it. Jason: [0:49] I know I feel like I'm already winning because the intern type 2021 in the show notes and when I read the intro I caught it in my head I feel like that I'm impressed with myself right now. Scot: [1:00] Boom yep and there that was bad timing because there is a performance review coming up so that in turn is going to be in some pretty pretty thin ice here so we'll see hopefully they make it through. Jason: [1:13] Might be another year probation before he gets to start taking a salary. Scot: [1:18] Yeah most important question are you watching the book of Boba Fett. Jason: [1:24] I am I am we have to be careful not to do any spoilers but. Scot: [1:29] Never spoilers never a million spoiler. Jason: [1:31] Spoiler free pass. Scot: [1:33] I believe he got eaten by that giant thing in the desert oh sorry those spoiler. Jason: [1:39] Yeah. Yeah there are I will let I'm not going to reveal anything but there is sand in the new episodes. Scot: [1:49] Yeah yeah he want he like Star Wars you get a lot of sand in some people hate sand but Boba doesn't seem to mind. Jason: [1:57] No I think he's had to adjust but yeah really well done show been enjoying it felt like there was a end of the year there was kind of a little role in television programming in our household so it's been exciting too Taz some of these series come back. Scot: [2:13] Let's jump into it cuz this is sometimes one of our longest episode so we're going to try to try to not go too crazy long. Jason: [2:20] I feel like we just lost half our listenership right there. Scot: [2:23] Like I don't believe that this is gonna be a three-hour I am happy that Joe Rogan is starting to do these like three-hour heh, episodes it makes me feel better about our one hour winds so this is every the first show of every year is been are many many year, tradition to go through our past years predictions and then formulate our predictions for the upcoming year, and that is this show it is the 2021 prediction review 2022 prediction Revelation show feel like we need a sound effect for that, but. Jason: [3:00] I have a sound effect but I feel like I'm going to leave yours in. Scot: [3:02] If you can beat that you know over override it there. [3:10] So the way we do this is we do have to show is kind of doing our predictions and kind of self scoring ourselves in Jason's it's kind of, banging your head against a book typically self-flagellation or whatever it's called and then and then we are back after the show is hopefully we learn from these predictions we made and we, cast them forward to see what's going to happen this year so I feel like Jason we should I think you actually won last year if I remember. Jason: [3:41] In a major upset I feel like I had been like over 45 the the previous app that seasons. Scot: [3:48] Yeah yeah so you get the dubious honor of getting to rate your 2021 predictions first so why don't you kick us off. Jason: [3:54] Awesome yeah and spoiler alert we do not learn from the previous years. Scot: [4:00] Well part of making predictions is you yeah yeah yeah you got to kind of put it out there and that's risky. Jason: [4:07] Sure so I'm always looking forward to this episode I'm super excited about it I get you know jazzed weeks in advance and then I like dust off last year's forecast and suddenly I'm a gloomy because I realize I'm not near as clever as I remembered myself so that'll just set the tone up front so my first prediction last year was that more personalized made to order products would be taking off this year and my specific prediction was made to order a parallel with grow to be a nine figure 9 digit, business in 2021 and so good news bad news that happened so, if you add up the revenue from Indochina oh and suit supply, proper cloth and not standard you actually get now about 250 million in Revenue which is, considerably higher than nine figures. [5:14] In hindsight it wasn't that good of a prediction like we are pretty close to nine figures before last year. And so it wasn't as stretchy as I had hoped and I had in mind a lot of more. Well we're in consumer products pivoting the made to order and I specifically had been watching some some Amazon Pilots around made to order and they didn't really grow this year at also, technically I guess it was it happened but I don't feel very good about my first one. Scot: [5:46] Okay yeah well it's a win just take the W dude. Jason: [5:53] Okay all right yeah well I'll try to be more more strict going forward or just make better predictions so my second one, there's been a lot of initiatives around retailers weaning in the healthcare and I propose that at least one retailer would, launch their own health insurance or offer some alternative solution to health insurance, and while there were a bunch of investments in health care and Amazon you know in particular has done a lot in the last year I don't think that really happened so I'm giving that a no. Scot: [6:29] Yeah and in fact that was like a huge loss because Amazon Unwound their big partnership that made it seem like they were going to do a lot more in this myth. Jason: [6:37] Yeah that there is some Nuance there they they were part of a Consortium and they bailed on the Consortium but then they invested a lot more money and did several acquisitions, and expanded the scope of their own internal initiatives and it almost look like the the internal stakeholders didn't like partnering with Goldman Sachs and Berkshire Hathaway but nevertheless. I'm I'm not taking that that win that that didn't happen so. Scot: [7:09] What attracted such a big L kind of swamps the W from the first one. Jason: [7:14] Yeah cleaner it correctly so the next one was interesting I said that e-commerce would grocery e-commerce penetration with grow above 10% and I said someone will deploy not just pilot these micro fulfillment centers for grocery in both of those things basically happen so bricks me clicks which is one of the more credible sources out there for tracking grocery penetration has us at about fourteen percent penetration right now. So we definitely passed that ten percent threshold obviously aided by, the pandemic and the various waves and then several retailers leaned into mfcs a couple small retailers did deploy them, across all of their stores so like a chibi for example is aggressively rolling out mfcs Walmart I want to say spent like 14 billion dollars on on MFC so real money is, is getting invested in there so I think generally I feel good about my my grocery production number three so so. Two yeses and a know so far. Scot: [8:29] Is this a bricks and clicks thing is that a can mere mortals get that or is that something you get. Jason: [8:35] Well there's a there's a paid version which is well worth it if you follow the industry but they do publish their monthly forecasts for free on their website at bricks me cliques.com. It's pretty interesting so there you know we get. Grocery sales data from the US Department of Commerce and e-commerce data but we don't get grocery e-commerce so there's the grocery e-commerce we only get from a couple of these third-party private. Data providers and they all do it primarily based on. Big panels of consumer surveys so that's what bricks me clicks does but they they have some like pretty interesting data like you can look at what percentage of those grocery e-commerce orders were home delivery versus curbside pickup and stuff like that. Scot: [9:26] Very cool there's a how do they get their data. Jason: [9:30] Panel so they're there. Yeah they're serving a bunch of consumers yeah. Scot: [9:38] All right I'm going to remember you you did that. Jason: [9:42] You make you make use with what is available. Um and directionally emarketer published some grocery data and they kind of roll together a bunch of people's forecast there's another company out there called mercado's that publish them data and it also aligns, directionally that there we are over 10% where they disagree more is where we started before the pandemic so some of them have us starting at like two-and-a-half or three percent some of them have as high as six percent before. Um over 10 now. And if you're super interested in the interest of prolonging the show frequent friend and guest of the show Professor Dan McCarthy they he and his students just published an interesting. Cohort analysis of, um how the pandemic impacted digital restaurant sales so closely related to digital grocery right and obviously a lot more people ordered restaurant food for delivery during the pandemic but his interesting question was, um [10:49] Was that you know a pandemic Spike and it's going to go down back down to pre-pandemic levels or is it a permanent shift and what can we suss out and the way they did it is they looked at cohorts that. They ordering from restaurants for home delivery before the pandemic and how their behavior change versus first time users and what they found is like most of the growth was. Households that were already using restaurant delivery increase their usage and it appears to be more sticky the smaller cohort of people that ordered from restaurants for the first time during the pandemic, that behavior did not stick and they're not continuing to order but still the sales are up higher. There's a nice long digression for you that wasn't one of my forecast. Scot: [11:33] Always appreciate the commentary. Jason: [11:36] Yeah I'm here for you man so forecast number four was. I predicted that Amazon's Shopify competitor would be revealed, in this is a thing that we had heard about called project Santos but no one really knew what it was I said hey we're going to find out what it is and I think it's going to be a shipping solution to compete with, to fulfill orders for Shopify and take take you know a piece of the Shopify gmv. And it was in fact revealed so that's the good news it was not a shipping solution so so project Santos turned out to be, a point-of-sale system for brick-and-mortar retailers that Amazon is developing, and has still not released but is purported to be small business POS system that's going to compete with Shopify and square and some other folks in that space so, I'm giving that a no. Scot: [12:42] All right I agree on the phone. Jason: [12:44] Cool cool. Interesting news and Evolutions there to talk about on one of our subsequent new shows is there some interesting patterns that Shopify and others of, have filed in that space so we get to my fifth prediction my fifth prediction was that retail media networks were going to take off in 2021 and that they would generate more than 20 billion dollars in ad revenues, and put things in perspective like the year before we had only seen about 10 billion and AD Revenue so that was a meaningful prediction and that. Totally happen so according to emarketer we did 24 billion, in calendar year 2021 in ads that were invested in retail media Networks, um Amazon is on a run rate right now to do about 30 billion dollars a year and everybody and their brother is launching a retail media Network so the Gap is launching a retail media Network which is. Interesting most of these, retail media networks are selling ads to what we would call endemic Advertiser so your Duracell batteries you sell batteries at Walmart you buy an ad from Walmart for Duracell batteries to help more people find them. [13:57] Gap doesn't sell other people's stuff so there are no endemic advertisers on the Gap right and so super interesting that even they are trying to monetize their traffic. You know you name it they watched a retail media Network this year and just today I want to say Best Buy which already had a retail media Network, launched a new rebranded retail media Network and they're now selling ads to non-endemic advertisers as well so so that when I feel like I hit pretty well. [14:28] So you add that up and that is three corrects and and to to mrs. and folks careful listeners will note we also made a bonus prediction and the case that we tied, in my. My bonus prediction was that we would have even more store closures in 2021 than we did in 2020 and I was wildly wrong, so caveat here are the data everyone uses when they quote store closures is this core site data and core site is kind of anecdotal data and it's totally tracking Big Chain, retailers but based on their data there is like 41 percent fewer store closures in 2021 than 20/20 so so we'll call that a huge mess, um I would argue that all the store closures that happen this year were small independent retailers that got wiped out by these big chains, and we really don't have a good data source for for those but nevertheless I'll accept that I lost the bonus round badly. Scot: [15:28] Yeah in fact isn't there a record number of stores opened. Jason: [15:33] Yeah so a separate issue from the store closings is hey where there are more openings and there, there there were so not a record number of openings but the but from that course I data set more store opens opened than closed last year which so we would have had a net increase in stores. That that's interesting I wouldn't encourage retailers to pay too much attention to that because it really matters. The nature of the closed and open stores I get almost rather follow, net gains or losses in retail square footage because if you have a bunch of Macy's stores closed and you have a bunch of Dollar General stores open your closing 100,000 square foot store and opening a 10,000 square foot store. Scot: [16:22] Awesome and then you had all right so then if we include your bonus you're even so three wins and three else. Jason: [16:35] Exactly I like to think of it as three wins and two L's and the bonus only comes up if you can tie me. Scot: [16:41] Okay alright let's see how I did so. Jason: [16:46] Yeah I'm excited to hear this. Scot: [16:48] Yeah so just to remind everyone this was done a year ago in January of 21 we were merely. Nine months months depends on when you start depending I guess nine months into two covid. Jason: [17:01] That's a calendar year ago but it was actually four years of Lifetime ago. Scot: [17:06] Yeah it feels like it for sure, all right so my first thing I always like to kick off with an Amazon prediction so my Amazon prediction last year was that we would move to same day Prime by opening a huge wave of neighborhood DC's. And they would be near dsps and I got that one right that one, don't feels obvious like I don't feel like I was making too much of a prediction but at the time I remember being worried about it because I think they they were still doing most of the dsps this is where time dilation happens during covid the four-year thing you mentioned. They've just built up an incredible amount of. They call him I called him neighborhood DC's they call him delivery stations now I think is the official name where they have built you know just tons of these these interesting new. Footprints where they house a bunch of these dsps Under One Roof and then they for deploy a lot of that days things to be delivered into that out of a fulfillment center and then the the dsps just line up and deliver that stuff so it's been really interesting to watch them build that, so I would count that one as a win. Jason: [18:18] Yeah no I totally agree I'm often surprised by how many people still have this outdated model of Amazon and they imagine the Amazon is primarily doing two day shipping. Scot: [18:29] Yeah no it is they have really cranked it up especially I'm out I'm in North Carolina you're in Chicago and you guys are probably getting stuff you know. Jason: [18:38] Yeah we we are we were in early market for same-day delivery and we're kind of an epicenter for a lot of of their delivery products and the vast majority of stuff I order, um my I get two offers for wind to have it delivered between 4 and 8 a.m. or between 8 a.m. and 10 a.m. the next day. So some stuff I get same day I would just tell you there were I was listening to an Amazon earnings call and someone asked them if they were were concerned about all these ultra-fast delivery services that were popping up all these VC funded, you know 15 minutes to 1 hour delivery services that are mostly sent in one one-block radius in New York and the Amazon CFO was like. You know those those Services deliver, an assortment of 4,000 skews to a five-block radius we're currently delivering about 400,000 skews Same Day to all of America we feel pretty good about our offering what's the. Scot: [19:42] Boom drops the mic walk. Haha okay sticking to Logistics which is interesting because I was poking around and Logistics a year ago and I you know in hindsight the perfect prediction would be there's going to be a supply chain problem but I did not I did not pick that one sadly instead I said you know Shopify, so my logic here was kind of looking at the chessboard at that point in time we all know Amazon's kind of, turning the guns toward Shopify if your Shopify you know those guns are turning towards you so one of the things you do is try to get into the delivery world. They have tried but they pretty publicly there was Toby was in, was it Bloomberg he did kind of a cover story on one of the Business magazines and in there he basically admitted that you know hey were. Pretty bad at this fulfillment stuff and I think they had a customer say that they're embarrassing really bad and you know it almost seemed like there are not going to go deeper into fulfillment so I missed on that one but Asterix. I think they should and I think it's going to be a pretty big strategic. Blind spot if you're an arm the rebels in e-commerce you're gonna need to help them get the products to consumers in that last mile that's going to be where the battle is and I feel like it's a bit of a soft underbelly for them right now. Jason: [21:11] Yeah generally agree. An interesting side note that the CEO of instacart just got named to the Shopify board and I inadvertently started a little bit of LinkedIn debate about like how soon it would be before that was a potential conflict of interest and a lot of people chimed in that they thought instacart was a potential acquisition Target of Shopify which might be one way for them to to get into the the Fulfillment business. Scot: [21:48] Yeah but even that's a conflict of interest rent mean proofs proves your point not you know. Jason: [21:53] Yeah I mean clearly I'm right but that's a separate issue. Scot: [22:07] You don't think this will ever happen and everyone else in the world thinks it will so you know, this one's tricky I could make some argument that they are doing more on this and then that same article they do start to talk about it being more of a central by it I'm talking about the shop app that they have, um doing more around that centralizing your your Shopify, you know whole experience in aggregate including some search functionality they have added some search haven't looked at lately but I've seen to Twitter traffic that they have added some stuff there, but I'll all I'll take the L on this one I but I still think. That it's going to be something they do more of down the road probably in a different flavor than a traditional Marketplace but I think it's an area that they have to explore it is more in their wheelhouse than the Fulfillment sign. Jason: [23:02] For sure I certainly agree with that and I would encourage you to double down on that prediction for Fort Wayne tonight but I will say like two things I was clearly wrong on the shop a. [23:17] Like is getting much broader adoption than I would have expected because I would argue it's mostly a shipping tracking app. It has some like Merchants search capabilities it doesn't really have product search capabilities at least in general release but it's. At various times it's been the most downloaded retail app and it's bouncing around in the top four so a lot of people are getting that app and so per your point, you know they have a bunch of merchants they have a bunch of users with this app which is really hard to do this app has some Marketplace of like features and then you know I don't know you I'm sure you saw but bradstone, got to go visit Shopify and do an interview with Toby and he in his article he kind of painted a picture that that. Internal stakeholders at Shopify were wildly divided and didn't agree about. If Shopify should do a Marketplace and what it would look like and so that that makes me think. They're you know having the same debate we are and Toby himself weighed in that he's like. You're not going to see us compete with our Merchants so if they do a Marketplace as probably going to have to look. You know considerably different than the kind of marketplace I think some people are thinking about but but it's an interesting space. Scot: [24:41] Yeah, yeah and then so we'll see if this comes up again in predictions and then I the super risky thing I did last year was made a covid prediction I've learned my lesson there remember to week two weeks and we're done anyway we my prediction was we will be shocked how much quote-unquote zero friction addiction sticks I've seen 30 to 40% repeated a lot and I think it's going to be much much higher and then so I think there is some good data that points to that we haven't seen a decrease in the growth of you know online even as we've gotten into a post covid World we're kind of getting back into one with with all the Quran right now but and to your point there's a lot of interesting data like like Dan and his group did that show that it's been pretty sticky. Jason: [25:37] Yeah no I think that's totally fair a lot of people are in correctly predicting that that it's going to revert but yeah I think I think all the tangible evidence points to it being sticky. Scot: [25:52] Okay and then my fifth prediction was given all the heat around these specs and IPOs that we would have 20:21 would be a banner year for digitally native vertical Brands either going pilot getting Acquired and doing IPOs, I want to made this one I felt like it was going to be much more around these facts but then the specs pivoted and started doing these really weird esoteric things that end up, not doing very well but where I kind of snuck the win out on this one is we did have three companies that we've tracked in our kind of the oh geez of digital native vertical Brands go public so we had War be Rent the Runway and I'll Birds now they haven't done great since they went public but they did get out and they had you know the kind of met their pricing and went public and are still out there and so so there you go so that was a yes. Jason: [26:51] Yeah yeah I will certainly give that one too. Scot: [26:54] All right so at this point I am let's see three yeses and to nose. Jason: [27:02] So we're tied so the bonus comes up what was your bonus. Scot: [27:07] My bonus was that there will be I was much more optimal another covid so I got lucky on the first one I felt like we're going we're going to in 21 we would be post covid and people would kind of stop buying stuff just generally and really focus on going out and doing things and seeing the world over the holiday I went down to Orlando for three or four days and it felt like, there's definitely a segment of the population that that's out there doing that they all seem to be in Florida right now and maybe some in Texas but I think if you look at the data there's nothing to really support that in fact the we've talked on this show about the e-commerce data and Retail data and it all seems quite robust so we have not hit a.n.t. consumer materialism wave that that I predicted. [28:03] Cough so it turns out that I think we're effectively tied is that I'm doing the math right on. Jason: [28:09] I think you are and and I think all our listeners will agree that a tie is basically a huge win for me. Scot: [28:15] Given our past history yes it's the first time we've had a feels like soccer or that we're in England where that is a possible outcome. Jason: [28:23] Exactly I think I think my high school soccer team just just tied your your Premier League team. Scot: [28:31] Yep cool so yeah that but you know it fun to do these things because I would say in a volatile world like we aren't getting half of these things right I think you would agree with me that we're pretty awesome you know we there's other people out there that make predictions and they throw so much junk against the wall they get like five percent right but and they do big Victory lap so I think if you look at our records pretty good pretty solid. Jason: [29:01] Yeah no I agree and I don't think we sandbag very much either I mean sometimes in hindsight they feel like sandbags but I feel like we stretch ourselves so, so I will definitely take them. So how are you going to like pay off that that self-congratulatory pat on the back Scott you're gonna have to come up with some Whoppers for this year. [29:32] I don't I don't what do you want to do I'm sure we lost all our listeners except for my mom so whichever she prefers. Scot: [29:39] I'll go first so so my predictions this year, so my Amazon prediction number one and this is for 2022 is I predict Jeff Bezos is going to have a midlife crisis and run around it was in Miami with hot chicks and other exotic locations and take a lot of selfies for Instagram. Jason: [30:05] If you had said in dubious fashion choices than I might give it to you. Scot I'm not sure but I think as of January 6 that's already happened. Scot: [30:16] Yeah yeah yeah okay you got me that ones are what they call retcon and in the world where it has already happened alright or series prediction is I'm gonna I'm gonna double down kind of on your prediction I'm going to steal your prediction from last year and say I guess this isn't exactly what you predicted but I do feel like, Amazon is very serious about Shopify in that same article I was talking about where, Toby was there a next Amazon you know an anonymous sex annum Amazon Source you have to take that with a grain of salt said these guys crushed us they came out of nowhere and destroyed us and where we were blindsided, that seems. [31:03] Pretty pretty Amplified but I do think they have their guns trained on them so I'm going to say we're going to see Amazon come out with a serious competitor this year, and I think it's gonna you know, I imagine it could even be like a web store offering even though they started this and got rid of it I think they're going to get pretty serious about it and now I could see them come out with a, you probably won't have a lot of Headway in the first year but they're gonna I think they're gonna go right out these guys the thing that's hard to predict, there's some interesting things they could do it with AWS and headless so I'm going to kind of give myself a little space there that it could be headless versus kind of a more monolithic type SAS kind of an offering but yeah, so I think they're going to get pretty serious about. Jason: [31:54] Okay yeah yeah I could I like that I can't I see that and you could imagine bundling like AWS Commerce platform with a bunch of the traditional merchant services from Amazon like fulfillment and payment and stuff like that. Scot: [32:08] Another Amazon one is and you kind of foreshadow this when you're talking about the Amazon thing there's there's hundreds of millions of dollars if not billions going into these do have a name for them fast. Jason: [32:23] Yeah well ultra-fast delivery is the. Scot: [32:25] Ultra-fast slurry okay these companies so there's like go puff and there's one that has like an animal name like. Gorilla yeah Joker yep yeah I've been I don't know how DC is letting them do that one but anyway you know so these guys have raised billions of dollars and it's a hot Market but I think Amazon is kind of going to train their guns on that and I think they're going to put a real hurting on them, I think we'll see I'll be pretty risky here and say one of them will close their doors one of those so I'll put it here in the notes so to keep me honest so, go puff gorilla and or Joker one of those three big ones probably doesn't make it out of 22. [33:19] Okay, so that's 1/2 so this is my third one I realize I'm actually short protection will have to do one on the flyer the Bezos wanted kind of counted in my head but that was early prediction you know the at the end of 21 we had Facebook changes name to metaverse and since they did that you can't throw a rock without reading a thousand articles about the maneuvers. In fact today on Twitter there was a big Walmart video you know kind of showing an metaverse shopping experience mock-up kind of thing that was kind of fun, the I think there's going to be I think there should be a lot of hype and 22 I'm actually kinda already burned out on it and a lot of you know what does metaverse shopping look like and there's going to be lots of excitement and smoke but no fire and no Ray. So I think it's going to be the flash in the pan when we look back on 22 so I think it's going to not a lot of activity there I think it'll be like, you know chat Commerce and social commerce and a lot of these things that had a lot of buzz in their era AI Commerce machine learning Commerce all these things that had huge amount of Buzz and then turned out to not really have substance. [34:37] Okay and then the inverse of that is I think one of the things that there's been a lot of talk about that is going to have substance is live streaming of kind of video live video e-commerce integration so I think that one is going to be more mainstream there's there's a little. Amazon has tried this and failed it's big and Ali Baba I'm I'll qualify this and say in the u.s. too so I'm not trying to be sneaky here and you know, there's not a lot of I've seen some startups trying to get traction here but they're in like supermicro verticals but that's how I things get adopted is you kind of build some habits in these small behaviors and then they can go mainstream so I think we'll look back on 22 when we do our 20:23 show and we will see live streaming has gone mainstream so that is one and then let's see, I may have to come back with another. Jason: [35:35] Yeah I'll let you you can make fun of mine and then you I'll let you cherry pick after hearing my. Scot: [35:41] Okay any reaction to my my for so far. Jason: [35:44] No I so a I should have come to rehearsal because I feel like we're gonna get off the right off the bat with some potential overlap but. I definitely. [36:00] I think we're going to see some way Amazon very seriously competes with Shopify I think it's not going to be the way most most people expect that your your description seems totally plausible is we're about to see I have a, an opinion on some of these ultra-fast delivery services and The Meta versed both of which you touched and then I got to be honest I am nervous about live streaming like I could I definitely am not bearish I could see it going either way a ton of Commerce happens via live stream in China and we're starting to get a lot of Commerce. Video content get consumed in the u.s. what's not working very well at the moment is the buy now button at the end of those videos and so you kind of have, indirect livestream commerce's is already starting to happen in pretty high volume here in the US and a bunch of people are investing in in. Trying to take it that that last click. And I have reasonable confidence that it could work so at the very least I know a lot of retailers and a lot of my clients are going to be trying it pretty pretty heavily this year so we shall see. Scot: [37:15] I came up with my fifth. Jason: [37:17] I knew if I just rambled that I would give you enough room for one. Scot: [37:20] Yeah this one is a risky one but you know our friend Faisal started Fabric and I'm going to predict that that company has so much Buzz they're going to get acquired in this year so that was risky because they're super early stage where is it it'll it'll it'll have to be a big number to take them off the table at this point but I think someone's going to going to, pay that number. Jason: [37:45] Yeah to fun ways that could go I feel like he's pretty – on Shopify so it would be awesome Shopify acquired them but you could also Imagine AWS acquiring them and and making two of your predictions come true. Scot: [37:59] Yeah or or adobe or you know IBM IBM's kind of on the sidelines lately they've got a whole. Jason: [38:07] Yeah yeah they kind of got out of the those software platforms I would be I mean but not to say they couldn't pivot and come back in for sure. Scot: [38:14] Yeah yeah and then let's see I said Adobe I've and Salesforce. Jason: [38:20] Interesting okay well I'm going to jump into mine and again we did not dedupe these I bundled several of yours and made them more negative, so my first prediction is what's not gonna happen and I lumped in a bunch of very trendy things that people are super hyped about and I said I don't think any of these are going to be economically meaningful in 2022 so it's in ft's which I know, are near to your heart than mine I I do believe there's some Niche use cases where in Ft is totally makes sense and I know you play in some of those, those Niche cases but there are so many people that just think crypto in general and nft is in particular are going to be, a huge part of Commerce I don't think they're going to be very economically meaningful and in 2022 even more so I don't think web 3 is going to have any impact I'm starting to get a lot of questions about, how Bigcommerce is going to change because of web three in my answer is it's not, I think the metaverse is going to fail pretty miserably as a Commerce, play and I'm also going to say all of these Venture funded ultra-fast delivery startups are going to fail so that's not to say that. [39:36] Amazon, instacart or even go puff couldn't win but like all these these Sand Hill Road back startups that are delivering in Manhattan I don't think any of them are gonna change consumer Behavior enough to really matter economically in, so that's my Chrome Legend hey all the cool things that talking has like to talk about aren't very important one. Scot: [40:02] Well I don't think that overlaps too much no no I I disagree but we'll see. Jason: [40:09] Knox awesome those are the. Scot: [40:11] What's your specific prediction like there will be less in ft's and 2022 and is in of T volume. Jason: [40:19] Yeah yeah. Scot: [40:20] Let's put that one down oh that's that's the prediction last in a $50 transacted. Jason: [40:26] Well so like I don't so full disclosure I can throw out a number but like I don't know of a credible source for tracking in Ft Revenue dollars. Scot: [40:40] Yeah there's some there's gmv trackers so open sea and is the biggest Market Place than there's like three or four others. Jason: [40:46] Okay I was mostly thinking like the there's there's not going to be meaningful revenue from the US Department of Commerce retail sales data that's enough. Scot: [40:57] Wow that's there it's going to take them 50 years before they can spell it. Jason: [41:02] Well I know they're not going to report it that's what I'm saying but I'm just saying like there's an Amazon Walmart the the top 10 eCommerce sites in the US are not going to have any meaningful revenue from in FTS. Yeah but nobody's going to do anything with webbed three in Commerce and nobody's going to buy anything with a virtual reality headset. Or from gorillas outside of one block. Scot: [41:40] Okay. Jason: [41:42] So I'll try to get less – now a company that we've talked about on the show a couple times that people don't talk about enough and I'm kind of using them as a surrogate for a whole new trend but is the the. Ultra fast fashion brand Chien which is a apparel brand the. The they're estimated to have sold about 10 to 15 billion dollars worth of Apparel in 2021 and I think they're going to exceed 30 billion dollars in apparel sales and 2022 which is going to make them. A top 3 apparel retailer in the US. [42:24] And I said they're kind of a surrogate for a trend this is democratized merchandising so this is, instead of Mickey Drexler deciding what the cool kids should wear in high school instead of easy deciding what the cool kids should wear in high school this is, algorithms watching what the cool kids post that they are wearing in high school on tick-tock, and then making it in two weeks and selling it to all the kids that want to be cool, and so it's kind of the perfect manifestation of what Amazon called hands off the wheel where they stopped having Merchants pick products and instead kind of use data to, to drive their catalog and I think she is gonna continue to have great success there and it's, it's disrupting the fashion industry more than a lot of people in the fashion industry realize but I think, it's going to become extremely evident in 2022 that it's disrupting the apparel business. Scot: [43:23] And then are you are you putting a specific number on it and if so how much is that over last year. Jason: [43:27] Sorry I thought I said it yeah so I think they're going to sell more than 30 billion dollars of Apparel in 2022. Scot: [43:34] What they do in 21. Jason: [43:36] The estimates they're not public but the estimates are between 10 and 15 billion so more than double. Scot: [43:42] Okay all right. Jason: [43:44] Again not trying to sandbag. So third one and I guess I'm going back to my my negative Nelly so one of the hottest trends of 2021 and the prediction I have seen the most people do and I fully expected you to do so I'm, totally bombed is that buy now pay later services are going to continue to explode, and in 2021 by some estimates they grew 30% in their you know wildly adopted, it's the fastest-growing payment type in in e-commerce in 2021 you're starting to see it expand from just e-commerce to in-store purchases as well, and it's moving down Market to you know from from expensive High consideration items to a lot of lower cost more impulse items so by all accounts the future of payments and credit is buy now pay later in my prediction is that it slows down and 2222 I'm not saying it's necessarily going to flop, but I think you're going to see only about 15 percent growth over 20. [44:52] One versus the 30% that they had this year so I think the rate of growth Cuts in half and I think there's a couple reasons behind that, I think the bill is going to come due for a lot of these products and a lot of these consumers are not going to be able to pay for the products they purchase, and I think you're going to start to see a ton of writedowns and the financial reality of renting money to subprime lenders without like significant collateral is going to kind of start to, catch up with some of these companies I think the Credit Agencies are going to start to lean into this more and that's going to take away one of the competitive advantages that they had and I think we might even see some some regulation because like there's some, some very financially responsible companies in the buy now pay later ecosystem but there's also some, some kind of rebranded payday loan players in that space and so I think there's just going to be a lot of erosion of trust and and some- stories that will slow down the rate of growth. Scot: [45:59] Gaap negative or positive on the next. Jason: [46:04] Yeah we're going positive again I'm yeah I'm alternating I'm and I'm going to throw an Amazon one to you I think Amazon opens more than 100 grocery stores in 2022. Not whole food so Amazon Fresh doors, um and that you know again that that would be about three times as many stores as they have ever opened Amazon book stores or five star store so. It's not the thousands of stores that some people have talked about but it's also a much faster pace of brick-and-mortar growth than we've ever seen from Amazon. Scot: [46:41] Yeah that I will be excited to see this one. Jason: [46:46] And you know most of them will be in Chicago so that'll be fun for me. Scot: [46:50] Of the 500 stores they'll be like 75. Jason: [46:54] Yeah exactly I'll be surrounded, yeah so I think that's a super interesting space I've talked about it a bunch it was you know the growth of digital commerce was one of my grocery commerce was one of my big ones and I think it's just the big category of consumer spending that Amazon. Doesn't play meaningfully and Whole Foods is very Niche and I just think it's a moonshot imperative for Amazon to win Grocery and I don't think you can win digital grocery without having brick-and-mortar grocery as well. [47:29] So that I think gives me 4 so my last one, is I think there's going to be a lot of interesting Activity one of the categories of e-commerce I'm most interested in watching in 2022 is Last Mile, there's going to be a lot all kinds of different Evolutions but the specific prediction I'll make is one of these new, um I'll call them FedEx UPS competitors is going to sort of get get acquired or have some meaningful liquidation event and so so there's a couple of startups that are kind of, Next Generation parcel delivery services like vejo index delivery ship IAM is a bunch of X Amazon guys and I'm going to say that, instacart original business model could even slow down and instacart could get acquired, primarily to be a last mile delivery service by someone so so one of those companies gets acquired, as part of the buzz around owning your own Last Mile in 2022. Scot: [48:38] Yep and does that include so there's all these like ship Bob Shapiro those kind of guys your that's not. Jason: [48:45] I think there's going to be a lot of I think they're an interesting space to in most cases they're not actually delivering products they're they're facilitating delivery of products or tracking delivery of products and so I tried to keep this pure to the, guys that have access to trucks and are driving products to people's houses but. Yeah so no I'm not I won't call it a win if it's if those are the only ones that get acquired. Scot: [49:13] And then any other bonus prediction so I kind of had to stretch to get my 5 but anything else you want. Jason: [49:20] So so yeah you know I do all my best thinking on dog walks and so I you know I might thinking about all these cool predictions and I came home with like 40 of them and so I struggled to narrow it down to these five and so then kind of the next class of predictions that just sounded. Too easy in a way but you know last year digital Commerce kind of slowed down a little bit compared to Brick and Mortar Commerce it was a huge year in brick-and-mortar growth. Because e-commerce had grown so fast the year before so I think that that. That Paradox gets inverted again this year so I think we see way faster e-commerce growth than we do brick-and-mortar growth, I think curbside which was a big thing in 2020 and 2021 becomes even bigger thing in 2022, I think you're gonna see a ton of stores redesign their parking lot I noticed H-E-B just opened a new store and as 26 Bays, for curbside pickup so I think those those are the big things in the you know the big macro story that we'll see in 2022. I recognize that less controversial than my official five predictions. Scot: [50:34] Yeah okay cool I think that's a good set of 10 predictions there any anything else you want to just let people marinate on that for little bit. Jason: [50:42] No I if folks strongly agree or disagree I'd love to hear about it on social media and if you have different predictions, throw them our way on Twitter Facebook and we'll be happy to debate them on our next show. Scot: [50:59] Yeah yeah maybe we could introduce some listener predictions as part of this going forward that would be kind of fun it also reminds me we need to we haven't done a deep dive in a while and maybe you know we touched on in ft's web 3 meta those are pretty good topics for deep Dives maybe even buy now pay later so usually we hit a new slow down in the e-commerce world, kind of in that March April May time frame after we get the q1 results so maybe we'll throw some deep Dives in there so that, if those topics are interesting we're happy to kind of go deep on those I guess looking back the live streaming when I don't think we've done a deep dive on that either so those are all areas where between the two of us we have a pretty good bit of domain knowledge that we could make sure that is out there and available if you want to go deeper on one of those topics so let us know think about your preferences on 20-22 content around that type of a topic as well. Jason: [51:56] Yeah I will look forward to all of that. And of course if you did find this show fun at all or you learned anything the best way you could reward us as jump on iTunes and leave us that 2022 five-star review all those reviews you wrote in 2021 don't count anymore so you need to get back on iTunes and leave us up fresh review and feel free to make fun of Scott in the review that's always appreciated. Scot: [52:22] Or Jason's title. Jason: [52:24] One of my many titles. Scot: [52:25] All right thanks everybody. Jason: [52:29] And until next time happy commercing.

In this episode of Masters of Community, we speak with Joy Dettorre, Global Leader for Diversity and Inclusion, and Stephanie Galera, Global Diversity and Inclusion Leader, at IBM. Our host, David Spinks, the VP of Community at Bevy and the Co-Founder of CMX, moderates the conversation. The business resource group program plays a central part in successfully managing IBM's 250+ employee groups across fifty countries that touch approximately 50,000 employees. Joy and Stephanie will reveal how BRGs create a space for diverse, inclusive, equitable purpose-driven workplaces, like IBM's eight communities, and why businesses need to invest in ERGs and BRGs. Who is this episode for? HR specialists, company leaders, and executive managers. Three key takeaways: 1. Unfolding the business resource group program at IBM: IBM focuses on delivering employee-centric programs and initiatives by creating communities of like-minded people and offering a space for diverse, inclusive, equitable purpose-driven workplaces. HR at IBM manages the BRG program, which focuses on intersectionality and allyship. BRG serves as a platform for employees who want to launch a program or campaign for these different communities. From a strategy standpoint, HR provides the structure or template that BRGs can be successful. IBM has three global communities: the LGBT+ community, The Women's community, and the People With Diverse Abilities community. In the United States, there are five other communities: the Black community, the Hispanic community, the Indigenous community, the Pan-Asian Community, and the Veterans community. 2. Why does IBM invest in ERGs and BRGs?: The business resource groups enable values like compassion, kindness, justice, dignity, and unity. They also create a sense of belonging and inclusion for the employees. The second part of that equation is about organization trust, companionship, and offering employees the opportunity to do something good. 3. Measuring the success of the employee resource groups: There are two ways IBM measures the success of an employee resource group. One is the annual employee engagement survey. IBM also experiments with something called "mini-pulse surveys," which are topical and spontaneous. They are anonymous and include a small number of questions. When measuring the employee engagement data, HR looks at two metrics: engagement and inclusion. They also break down these metrics by community. HR identifies challenges, sentiments, and the needs of the community. Furthermore, they look at the societal impact. All of the measurements influence bigger goals, like attention, retention, engagement, and representation. Notable Quotes: 1. “By nature and by blood, you're probably part of a community. But if I want to do something more, a BRG becomes the vehicle that I would use to create more impact, recognized and funded by the corporation.” - Stephanie Galera 2. “We all have one client that we serve. That's the IBM employee. That's why we exist. We need to create environments where these employees can feel safe, included, valued, appreciated, and an environment where they can thrive.” - Joy Dettorre 3. “These business resource groups create a sense of belonging and community, organizing employees around a common cause of driving passion.” - Joy Dettorre Answers to rapid-fire questions: 1. If you could only eat one food for the rest of your life, what would that food be? Joy: Pasta and meatballs. Stephanie: Mushroom omelet. 2. What's your go-to community engagement tactic or conversation starter? Joy: If someone comes to me for help, I ask, "how can I help you?" But if I need help from somebody else, I tend to say, "will you help me?" Stephanie: The trip that my spouse and I had in the US, which talks about the benefits of actually joining a BRG meeting 3. If you could distill all of your experience as community builders and as community professionals into one bite-sized piece of advice for other community professionals, what would that advice be? Joy: Can we all commit to leaving every conversation and every interaction a little bit better than we found it, just based on how we behave. Stephanie: When you're in doubt about anything that you'd like to do, ask yourself, what's the worst that can happen. And most of the time, you'll find that things can be manageable. 4. What does the organizational structure of the groups look like? Are there any leads, and are they compensated for their work? There is absolutely a governance around our business resource groups. They constantly evolve and get better. But one thing in that governance model is an executive sponsor. There are also co-chairs, which are volunteer positions. They receive blue points, with which they can go into IBM's internal shopping store and purchase something. There are also some financial gifts and digital thank you cards. The company writes blogs to recognize their effort, and leaders make personal calls to them and offer specialty digital badges they can post on LinkedIn. 5. Do people need to fill out some form to specify how they contributed, or do you have it automated somehow? In terms of recognition, we do have a 360 feedback that's called a checkpoint where people can put in their goal, and it's visible to their managers so that if they achieve that goal, that becomes part of their appraisal for the year. Volunteers at IBM can also convert spent hours into grants. 6. Do BRG leaders have weekly or monthly hours carved out for the work honored within management rather than a volunteer expectation on top of their job? We know that some managers carve out a portion of some person's time to do this, especially if it's for a business unit or geographic location. Sometimes we ask managers to carve out time for this person as a leadership development activity. And other times, they balance it as a work of passion. 7. Is there a step-by-step playbook to help us launch an ERG? We have a playbook that we're writing, but I don't know if it will be available outside IBM. 8. When an organization is committed to DEI, there will be several instances where you have to engage in uncomfortable conversations around discrimination and unconscious biases. How do you start and manage those conversations successfully? It's about creating a culture across the entire ecosystem where allyship, diversity, equity, and inclusion are a part of all of those processes.

UserTesting (USER) is a product feedback platform that uses its video-based software to collect customer feedback on products for clients looking for quick and honest reactions. USER also went public today via IPO. USER's corporate clients include IBM (IBM), Lowe's (LOW), Lyft (LYFT), and Microsoft (MSFT). Andy MacMillan, CEO of UserTesting joins Nicole Petallides to discuss the IPO and the outlook for UserTesting. Tune in to find out more.

Robinhood ($HOOD) the popular stock and crypto trading platform just recently had earnings and the numbers were very bad. The amount of total profits and number of users has gone down significantly since there IPO. They have recently announced new crypto wallet waiting list but it has not yet been released yet. One catalyst for potential growth for the platform is for them to list the popular meme coin Shiba Inu which has grown in popularity significantly in the past weeks. Starbucks ($SBUX) just recently announced that they are raising there hourly wage to $15/hr due to the shortage of workers with a $200 referral bonus. Ford ($F) has recently announced there earnings and numbers were way better then expected by the market. This is due in fact to increased demand for the new Bronco SUV and Mustang Mach-E. Mcdonalds ($MCD) and IBM ($IBM) are joining forces to combat long fast food lines. The partnership will implement IBMs artificial intelligence technology to help with jam packed lines and long wait times.

Kenny Polcari, managing partner at Kace Capital Advisors, brings his four decades of experience on the floor of the NYSE to today's market. He gives his current outlook and why he's interested in "fear index" (VIXY) as a hedge and dividend plays like IBM (IBM) and the SPDR Utility ETF (XLU). Finally, Kenny shares his memories of 9/11. From his offices at the World Trade Center to the NYSE floor, his experience is unforgettable. For the video version, show notes and charts, visit investors.com/podcast.

延续第12期的数据咨询分享，新一期竹子邀请了IBM的云计算架构师Jason来讲讲Technology Consulting 和 Tech Sales的服务对象，还有IBM的那些事！进入IBM有哪些门槛、需要做什么职业规划？你了解IBM的公司文化吗？部门tech sales的招聘标准？在IBM里学习到的3个takeaways？ 用20分钟，竹子带你一探究竟！ Follow 纽约竹子获取更多的干货： 个人微信：NewYorkBamboo 公众号/B站/小红书/微博/知乎：纽约竹子（全网同名） --- Send in a voice message: https://anchor.fm/new-york-bamboo/message

Share markets fall in response to the rise of the delta variant of COVID-19. Zoom (ZM), the video-conferencing platform, announces the acquisition of Five9. IBM (IBM) announces its second quarterly earnings, including spending $1.7 billion in acquisitions. JB Hi-Fi (JBH) releases an update on its financial results for the year ended 30 June 2021. Recap is made for you, by Sharesies. www.sharesies.com For more share market news, subscribe to Lunch Money, Sharesies' bite-sized email update: https://www.sharesies.nz/lunch-money Investing involves risk. You aren't guaranteed to make money, and you might lose the money you start with. We don't provide personalised advice or recommendations. Any information we provide is general only and current at the time.

- Travelers (TRV) up slightly pre-market after big earnings beat with $3.45 EPS vs. $2.39 est. Rev better than expected helped out by higher premiums, improved investment returns and lower catastrophic losses.- Halliburton (HAL) up 3.0%+ pre-market after better than expected earnings. EPS of $0.26, 3 cents better than expected. Reported 2nd q of profits with rebounding oil prices.- IBM (IBM) jumps 3.0%+ pre-market after better than expected $2.33 EPS better by 0.04 but also a rev beat. Rev up 3.4% from year earlier was best in 3 years. Cloud and software business big rev driver.- PPG Industries (PPG) missed earnings estimates with $1.94EPS vs a $2.19 est. Rev slightly better but warned that costs would increase during the current quarter.- Nasdaq (NDAQ) - up 1.0% pre-market after announcing that it will spin its platform for private company shares into a separate company. Sounds like the plan is in partnership with Citigroup, Morgan Stanley, and Goldman Sachs- 10 year yields keep falling, now below 1.2% for the first time since Feb. Falling yields and falling market- Jeff Bezos heading to space. The Blue Origin crew preparing to board the capsule. Bezo's is accompanied by his brother, female aviation pioneer Wally Funk and an 18 year Oliver Daemen who is filling in for the $28 mil charity auction winner. Scheduled for 9:00am ET. According to Morgan Stanley, Space market is expected to triple in size with more than 1Tril in annual sales by 2040.- Johnson & Johnson (JNJ), McKesson Corp (MCK), Cardinal Health (CAH), AmerisourceBergen (ABC) expected to announce a $26 bill opioid settlement. Settlement would involve payments from J&J the drugmaker and the 3 drug distributors.

Olá. Investidores! No Morning Call de hoje, 20 de Julho, os analistas Bruno Bennasi e Rodrigo Yamamoto irão comentar sobre os seguintes assuntos: Na segunda-feira (19), o governo estadual do Mato Grosso divulgou o plano de construção de uma nova malha de 713 quilômetros na região com o objetivo de conectar Rondonópolis até a capital Cuiabá e Lucas do Rio Verde, no norte do Estado. A maior companhia brasileira listada em bolsa, a Vale (VALE3), divulgou sua prévia operacional do segundo trimestre de 2021, com dados de produção e vendas de seus produtos. Nesta segunda-feira (19), a Oi (OIBR3/OIBR4) fez uma apresentação ao mercado divulgando seus planos para os próximos 3 anos, além de tentar deixar mais claro para o mercado como ficará o modelo de negócios e seus números após o fim da recuperação judicial. Veicula-se que a Novonor (ex-Odebrecht), controladora da petroquímica Braskem, tenha aceitado flexibilizar a venda de sua participação de maneira fatiada. A construtora Gafisa (GFSA3) divulgou, nesta segunda-feira (19), após o fechamento do mercado, seus resultados operacionais preliminares e não auditados relativos ao segundo trimestre de 2021. A IBM (IBM), uma das maiores empresas de TI do mundo, apresentou nesta segunda-feira (19), após o fechamento do mercado, seus resultados do 2T21. Os números vieram bons, um pouco acima das expectativas, mas sem grandes destaques. Para saber mais sobre as informações Confira o Morning Call de hoje!

Keep your eye on the long-term picture, not the short-term noise, says Senior Market Strategist at SlateStone Wealth, Kenny Polcari, when discussing how to invest among a burst of “meme” stocks. He then assesses “meme” stock activity such as AMC Entertainment (AMC), BlackBerry (BB), Clover (CLOV), and Wendy's (WEN) whose stock dramatically increased over the past few days but has now dropped 11%. Lastly, he goes over his stock picks Ford (F), IBM (IBM), Bank of America (BAC), AT&T (T), and Honeywell (HON) for long-term investments.

Dipping a toe in Bitcoin, Tesla (TSLA), IBM (IBM) and Palantir (PLTR) are all discussed.

International Business Machines (#IBM) reported their Q4 earnings and shares tanked -10%. The company reported an EPS beat by $0.19, but revenue failed to impress and was down -6.5% Y/Y. For years IBM has struggled to increase revenues and net incomes have been followed the same trend. The company's largest revenue stream is from cloud computing, which is an industry that's growing tremendously and will continue to for years to come. Is now the time for investors to buy IBM stock?

On today's episode of compounding lifestyle we have a special interview with the owner and CEO of Huddle Sports Shack / Case Place CJ Cutts , our stock pick of the month $APXT and Joe Biden's Stimulus announcement on January 22,2021 . Both Intel $INTC and IBM $IBM are seeing some unusual buy and sell volume activity. These stocks moved slowly throughout the day then began to rise closer to their earnings announcement. After hours they fell drastically to pre-earnings levels. After a recent investor meeting last week, $APXT stock has sense had pull back but its not to worry, we are awaiting the merger with Ave point who will be the number one servicer for Microsoft . Netflix $NFLX cooled off after earnings and is now setting at a new level. Apple $AAPL seems to be catching some steam as the train starts to run, and so is Microsoft $MSFT, so we will see!! We discuss a few way's Joe Biden's Stimulus package speech today will move the market. A lot of mentioning of EV related stocks and clean energy. $GOEV $GEVO $BABA $SBE $BIDU $F Lastly, we have a special interview from my brother from the Alaskan Tundra CJ Cutts, Owner and CEO of Huddle Sport Shack And Case Place. We go over how compounding his life style added up to a life time of benefits and the importance of doing your due diligence. Control the Cash balance today and position yourself accordingly. Let's GO!!!!! CJ Cutts Huddle Sport Shack - FB & insta :@huddlesportshack website https://huddlesportshack.com/ Case Place- insta & FB: @caseplaceak Research Links: www.Finviz.com www.Nasdaq.com Music- Otis Mcdonald - Phife for Life Voice Mail link, show us some love, call in to ask questions: https://anchor.fm/compounding-lifestyle/message (copy/paste the URL) Robinhood link: https://join.robinhood.com/arristw DISCLAIMER: These videos are for educational purposes only. Nothing in this podcast should be construed as financial advice or a recommendation to buy or sell any sort of security or investment. Consult with a professional financial advisor before making any financial decisions. Do your own research and due diligence. --- Send in a voice message: https://podcasters.spotify.com/pod/show/compounding-lifestyle/message Support this podcast: https://podcasters.spotify.com/pod/show/compounding-lifestyle/support

On today's episode of compounding lifestyle we discuss earning week, Intel $INTC / IBM $IBM earnings , our stock pick of the month $APXT and Joe Biden's Inauguration effect on the stock market. Both Intel $INTC and IBM $IBM are seeing some unusual buy and sell volume activity. These stocks are known to be slow movers but could they show a earnings surprise that make for large moves in the morning or the afternoon after close? After a recent investor meeting last week, $APXT stock has sense had pull back but its not to worry, we are just getting started because Ave point has also join them in their efforts and they seem to have caught the eyes of Microsoft. Netflix $NFLX has continued to have a run up in its stock. Could this further prove approval of transfer of power and declare the 2021 tech rally? Apple $AAPL seems to be catching some steam as the train starts to run, and so is Microsoft $MSFT, so we will see!! Lastly, we discuss a few way's Joe Biden's Inauguration will move the market. Alot of mentioning of EV related stocks and clean energy. $GOEV $GEVO $BABA $SBE $PLUG $CCIV $FB $TSLA Control the Cash balance today and position yourself accordingly. Let's GO!!!!! Research Links: www.Finviz.com www.Nasdaq.com Music- Otis Mcdonald - Phife for Life Voice Mail link, show us some love, call in to ask questions: https://anchor.fm/compounding-lifestyle/message (copy/paste the URL) Robinhood link: https://join.robinhood.com/arristw DISCLAIMER: These videos are for educational purposes only. Nothing in this podcast should be construed as financial advice or a recommendation to buy or sell any sort of security or investment. Consult with a professional financial advisor before making any financial decisions. Do your own research and due diligence. --- Send in a voice message: https://podcasters.spotify.com/pod/show/compounding-lifestyle/message Support this podcast: https://podcasters.spotify.com/pod/show/compounding-lifestyle/support

我觉得任何企业最终的目的只有一个，不是赚多少钱，而是在顾客的头脑中占据一个位置。只有在顾客的头脑里建立你的位置，这个才是永久的。所以今天我跟大家分享的是《定位：顾客视角下的企业战略》。 相信定位这个词大家都听说过，而且都在说定位，都在讲定位，都要做定位，但是定位到底是什么？ 定位其实特别简单，简单到很多人把它忽略了，简单到很多人无法相信，这样就有效？特劳特公司进入中国18年，定位理论发展50多年，碰到的最大的问题就在这里：战略的问题如此复杂，为什么到你们这里就这么简单？这么简单能解决我的问题吗？ 前一段时间我见了一个猿辅导的投资人。他问为什么猿辅导这么认可你们？猿辅导的两位创始人李勇和李鑫，很少特别认可某一个人，为什么这么认可特劳特呢？这位投资人觉得特劳特帮助猿辅导确定的“在线教育”这个定位特别简单，企业难道自己不知道吗？其实正是因为定位特别简单，所以企业在制定战略过程中，反而经常忽略它。今天我主要从三个方面跟大家做一个简单的分享。 第一是定位的原理，我们怎么去理解定位？ 第二是在思考企业战略的过程中容易陷入哪些误区？ 第三是如何制定企业战略定位，大框架是什么？ 一、定位究竟是什么？首先我们来看两个小案例，大家有没有看过《青春有你》和《创造营》？这两个节目背后阿里、腾讯投入都很大。特别是《创造营》制作团队特别厉害。但大家知道哪个节目更火吗？《青春有你》更火。 《青春有你》制作团队是没有《创造营》这么强，但是这个节目做对了一个动作：提前三个月播，这就是江南春先生经常说的“时间窗口”。两个节目的内容本质上是同质化的，虽然《创造营》更强，但它播出的时候观众觉得我都看过了，为什么还要看一个差不多的节目？ 后面又有一个节目特别火——《乘风破浪的姐姐》。《乘风破浪的姐姐》在没有钱宣传推广的情况下，首播10分钟点击破千万，更重要的是芒果超媒股价涨停，为什么会这样？ 这其实是湖南卫视一直的做法，它就是要做得不一样。 大家都喜欢漂亮小妹妹，我偏偏推一个《乘风破浪的姐姐》，聚焦30岁以上的姐姐们，特别有差异化，观众就非常能够接受。当年湖南卫视的《我是歌手》走的也是这条路，大家都是普通人选秀，我就请歌手来比赛，又成功了。 我们在做企业的时候是不是也面临同样的问题？我们总在强调我的技术好、团队好、资金雄厚，但是顾客可能并不是这么想的。大家一定要非常清醒地认识到，我们企业和我们的顾客在两个完全不同的世界，思考企业战略的时候必须加上顾客的视角，去考虑顾客是怎么看的。否则这里面可能有很多坑。 企业关心的是产品、服务、增长、利润，技术、模式。可是顾客怎么可能关心这么多？德鲁克说，顾客对任何一家公司、任何一个行业都是漠不关心的。诺基亚大不大？诺基亚倒了我们关心吗？诺基亚倒了影响了我们的生活吗？反而感觉我们的生活过得更好了，因为我们用上了iPhone。 企业家天天思考自己的产品、技术，觉得自家产品优点特别多，但是顾客不以为然。我们总想把最好的东西给顾客，可是他们不买账，我们要站在顾客的角度思考怎样获得他的选择，定位理论就是在这样的一个状况下诞生的。 1969年杰克·特劳特先生在《工业营销》杂志上发表了一篇论文——《定位——同质化时代的竞争之道》。预言通用电气（GE）和美国无线电（RCA）进军电脑行业注定无功而返，这是定位理论在商业史上的首次提出，告诉人们企业的战略是由企业外部的顾客决定，而不是由企业内部决定的。1960年代，电脑是一个巨大的风口，因为IBM在电脑行业取得了令人瞩目的成功。GE和RCA都打算斥巨资进入电脑行业。GE和RCA是比IBM大得多的企业，所有人都认为IBM要完蛋了，只有特劳特先生预言说GE和RCA肯定不会成功，事实上到了1971年，RCA和GE全部巨亏退出电脑领域。 其实从顾客的角度来看很简单，顾客要买电脑首先想到的就是IBM，IBM在用户头脑中已经占据了“电脑”这个词，顾客很难再去了解RCA或GE的电脑到底有多好。定位，正是要把企业和顾客打通。 二、战略制定的常见误区那么如果忽略了顾客视角，企业会陷入哪些误区？我通过唯品会的案例跟大家讲一下。 唯品会在国内开创了一种“特卖”模式，就是限时限量的抢购。唯品会最早想做奢侈品电商，但这条路很难走，很多品牌方也不让做，消费者也觉得这种模式可能不太靠谱。经过摸索，唯品会找到了一个新的风口，就是服装尾货。2010年前后中国的服装尾货量是非常大的，它这个模式颇为独特，又赶上了风口，早期发展非常快。 这跟大多数创业企业一样：找对了方向，找好了模式，前期发展通常特别快，但是发展到一定程度的时候，就会面临竞争的问题——来自淘宝、天猫、京东等巨头的竞争。唯品会的品类不多，以服装为主，物流也不强，购物体验也不如京东和天猫，比如没有搜索功能，购物还要抢购。这个时候，如果只是学习天猫和京东的话，其实没什么效果，因为没有一个人需要一个二流的天猫和二流的京东，你再怎么向巨头学习，你也不可能做得比巨头好。所有向巨头学习的动作都没能产生成果，造成唯品会当时流血上市。从2012年开始，唯品会走上了定位之路，它把自己区隔于天猫、淘宝、京东。淘宝是很多个人卖家和一些小商家在卖货，天猫相当于线上的消费MALL（购物商场），京东当时以3C产品为主打，同时拓展到其他的百货，那么唯品会是干什么的？“一家专门做特卖的网站”，唯品会是做特卖的，而且是专门做特卖，跟他们形成了区隔。 这在对外表现上它是一句广告语，但是仅仅有这句广告语是没办法构建定位的，一定要在消费者体验层面不断强化这个定位。专门做特卖就是跟其他平台都不一样，唯品会做了很多运营的调整，其他平台什么都卖，唯品会的商品是少而精的，而且只卖品牌货。 有了这样一个全新的特卖体系之后，它就区隔了其他的电商平台，不再是一个二流的天猫，不再是一个二流的京东，而是一个一流的特卖网站，它在特卖网站取得了第一。建立了清晰的认知之后，很多的顾客被它吸引过去了，企业业绩一路上扬，当时成为妖股，在2015年的时候市值超过110亿美元。 企业做到一定程度，特别是市值已经成为三大电商之一的时候，钱也有了，地位也有了，往往就会引进一些更厉害的人。2015年以后，唯品会引进了天猫和京东的高管，决定转型为平台型电商。当时还做了海淘、生鲜，甚至还上了汽车频道。因为平台上有这么多顾客，企业感觉这些顾客都是我的，我要满足他们所有的需求。 而且唯品会做市场调研的时候，顾客对他最痛恨就是要抢购，顾客调研的数据是这样，所以顺应顾客去掉了“抢购”。但是当唯品会不需要抢购的时候，这些顾客去哪里了呢？他们去天猫京东了，因为那边货更全，一旦不抢购，唯品会就失去了独特的价值。放弃了特卖导致顾客不认可，业绩增长停滞，资本市场也一路走低。所以到了2018年，唯品会回归特卖战略，做自己擅长的事，重整业务、强化特卖，核心用户开始回归，业绩上升，市值又重回百亿。 唯品会经历的起伏，最重要的原因不是企业内部管理出了问题，不是团队出了问题，其实团队还更强了。而是在制定企业战略的时候忽略了顾客，没有考虑自己对于顾客独一无二的价值是什么。就觉得自己什么都可以做了，结果反而脱离了自己独特的优势。一旦又回归特卖之后，所有的指标都向好。 唯品会的发展历程给我们在创业过程中的几个启示是： 第一，要建立自己的标准，不要模仿巨头。成功的企业有它的当时成功的要素，竞争的环境不一样，企业的基础不一样，不能盲目模仿，不要以巨头的标准来要求自己，而是要找准自己的定位。第二，要及时追击成功。唯品会第一阶段虽然很成功，但在第二个阶段就是没有及时追击成功，没有把成功的要素转化成强大品牌，打入顾客的心智中去。 举例来说，今年疫情期间，很多农产品企业增长很快，感觉好像不用打造品牌也发展很好。这其实是非常危险的。因为整个行业都在增长，说不定你的增长率还不如别人，疫情不会永久持续，风口不会永远存在，你必须把暂时取得的成功去放大、去追击，一时的成功是没有意义的。第三，警惕根据顾客需求去追逐风口。 当企业积累了一批顾客，顾客有多种需求，企业就会产生“我什么都可以给他，我什么都可以做”的幻觉。 在这一点上大家都要向江南春先生学习，在抖音、快手刚起来的时候，分众传媒也受到了很大的冲击。企业都觉得需要流量，而且流量的投入产出比是可以算得清清楚楚的。但分众广告投下去，不知道回来多少，有人感觉投1个亿回来10个亿，有人觉得投1个亿打了水漂。那么分众是不是也要去追逐这种“效果广告”的风口，给用户提供流量？并没有，江总做了一个非常重要的决策，继续做品牌广告，因为分众提供的价值是帮助企业建立品牌，而抖音快手这些效果广告本质上是一个渠道。 这个坚持，去年前年对分众的冲击是很大的，但是坚持下来，今年很多企业，特别是原来靠流量增长起来的企业，他们纷纷都来到了分众开始建设品牌。 如果当时分众也去走效果广告这条路，在流量上怎么比得过抖音快手呢？分众的基因不在那里，分众的基础设施就是城市电梯广告，把品牌信息打入顾客头脑。真正的效果广告是快手和抖音应该去做的。我们可以看到今年分众的广告业绩在疫情之后迅猛增长，其实它是坚守品牌广告、坚守自己定位的受益者。第四，避免以运营效益代替战略。 唯品会如果追求送货速度比京东还快，这是运营效益的提升，其实对它意义并不大，因为“特卖”的价值不在这里。 很多运营效益的提升，顾客是感知不到的，就像现在很多的餐饮企业都学海底捞，把服务做得很好，可是大家有没有感觉哪家餐饮企业服务比海底捞更好？好像说不上来，你只是比海底捞做得好一点，消费者是不会感觉出来的，他根本就不知道你做得好。 三、战略制定三步法：找位置、配资源、定节奏以上是我们企业在制定战略的时候要小心的四个误区。最后跟大家分享如何制定战略。 首先一个最大的战略观念是：要在潜在顾客心智中确立一个位置，这个位置就是定位。所有的内部资源全部根据这个位置来配置，从而形成一套独特的战略，创造出最佳的经营成果。制定战略的三个要素，第一是找位置，位置是在外部的、在潜在用户的心智中的；第二是配资源，围绕定位，企业内部的资源如何配置；第三是定节奏，什么时候该快，什么时候要慢，这就是节奏。 1.找位置 我们来看看最近非常火的在线教育品牌——猿辅导。其实整个教育行业是一个巨大的风口，行业集中度特别低，而且以线下小班课为主。线上教育刚刚开始，有一对一的、有一对多的、有直播的、有录播的，各种模式都有，其实行业内的人都搞不清楚，那就更别说这些家长，要去了解这么多在线教育的品牌，其实无从选择。 猿辅导的创始团队都是从网易出来的，他们首先做了很多工具，像猿题库、小猿搜题、小猿口算，网课、斑马英语，他们以工具思维切入市场，早期做得也挺好的，发展很快。 早期的在线教育企业各自为政，也没有什么冲突，跟学而思、新东方这些做线下教育的也接触不到。但是发展到一定程度，其他的在线教育机构，如作业帮也发展起来了，学而思也推出了学而思网校和学而思在线教育，不知不觉就打在一起了。 猿辅导原来最厉害的一点是什么呢？是流量。他们很早就在抖音和微信收获了大批流量，抖音有14家公司给他服务，那个时候的流量非常便宜，加上他们又懂得技术，所以它发展特别快。 但是流量都是公共的，学而思只花了一年的时间就迅速学会了这些技术，它也可以找到这些公司合作，短时间买到大量流量。渐渐地，流量红利消失了，流量的竞价模式越来越贵，甚至成了一个越来越重的负担。 这时候猿辅导该如何发展？仅从企业视角思考，他要做K12网课第一，要去收割线下，要极力开创大班课模式，因为大班课从企业内部来讲效率更高。 大班课的优势在哪里？师资更好，价格便宜，双师保障，直播加回看效果好，更便捷。早前猿辅导的广告说：孩子喜欢老师好，网课就上猿辅导，还特别朗朗上口。 大家发现没有？我们在考虑自己企业优势的时候，差不多也是这些：质量更好、价格更便宜、更方便。几乎所有的教育企业都在说：我是清北名师。 最近网上有个帖子《清华北大的学生都去了哪？》，好像都去深圳当小学老师了。这时候家长不知道怎么选择了。这家是清华北大的名师，别人还有哈佛的名师，顾客该怎么选？当新东方和学而思都在强调自己师资更好的时候，猿辅导面对这两家有优势吗？学而思和新东方都是老牌的教育企业，他们在行业里的各种资源都比猿辅导多，顾客也更加认可他们，特别在北京和上海，报名都报不上，还要托人才报得上。顾客怎么会选择猿辅导？猿辅导用什么名师都没用，学而思用清华哈佛名师还有点用，大家觉得效果确实好。特别在一二线城市，学而思是家长在选择线下辅导课的首选品牌。 这个时候顾客优选、强者愈强，学而思线上课没有猿辅导早，但因为它是大品牌，一推出学而思网校就迅速成功了，它的流量成本马上就赶上了猿辅导，甚至有时还更低。新东方也是。 这个时候猿辅导意识到它的战略不是由自己决定的，而是由顾客决定的，由竞争决定的。要突破学而思和新东方两大巨头的封锁，怎么办？首先必须要构建一个大品牌，你在教育行业也是个大品牌，你才能与他们角力，如果你只是个小品牌，没有资格这么去做的。 更重要的是，猿辅导有构建大品牌的基础，像其他的在线教育品牌如火花思维、瓜瓜龙这一类刚刚开始做的，他们不具备这个基础。 因此，从顾客和竞争的视角来看，猿辅导的机会就比较清晰了：就是把学而思和新东方定义为“传统教育”，你们在线下做的很好，我可以通过线上去升级，打造成为新一代的教育，而且这个战略方向其实是巨头难以跟进的。因为新东方和学而思最强的认知是在线下，它是传统的老牌，它不可能丢掉它的历史。这在定位专业上叫“重新定位”，我不但要定位自己，还要重新定位我的竞争对手。 所以在这样的一个战略环境下猿辅导需要考虑两个问题：第一个问题是企业的基础能否支持，第二个问题是顾客能否认同。 猿辅导是有基础的。它把原来单独的工具产品猿题库、小猿搜题、小猿口算、斑马英语，整合在一起，把它们变成我的大战略支持，将用户规模转化为认同支持——怎么让用户认同你是一个大品牌呢？我的所有产品加起来有4亿用户，这是事实，顾客也能够认同你是一个厉害的大品牌，当看到传统教育品牌比如学而思和新东方网课的时候，顾客就知道学而思的线上战线是跟随猿辅导而来的，猿辅导是在线教育的一个引领者。 所以这就是大家在分众上看到的猿辅导的广告“猿辅导在线教育，全国累计用户突破4亿”，它本质上是描述了猿辅导在整个教育K12领域占据的一个位置：这句广告语看上去是平淡无奇的，但在战略上清楚描述了它的位置，所以“4个亿”并不是跟别人去比大小的，是支持猿辅导作为在线教育的一个大品牌。其实有一段时间，作业帮打了“用户8个亿”的广告。但只是比大小能成功就没那么简单了。因为作业帮的战略方向没有理清楚，它没有一整套的战略来支持，它只是广告上打的数字比猿辅导多，其实是一点效果都没有的。猿辅导是围绕“在线教育”这个定位去配称战略的，包括它今年主打斑马英语，也是为了强化在线教育，因为斑马英语也是一个在线的、针对2-8岁小孩的思维教育产品。所以我们在做广告的时候，要认清这样一个事实，广告不是娱乐节目，广告是用来传递信息的，传递让消费者决策的信息。 当猿辅导确定了“在线教育”这个位置之后，它的广告以这样的形式出来，消费者能够清晰接受到这个信息，在选择的时候顾客行为就发生了改变，在选择线上教育产品的时候，更倾向于选择猿辅导。 经过这一年大规模的广告投放，猿辅导整体的数据增长非常快，估值达到155亿美元，在全球教育科技独角兽公司中排名首位。有了品牌广告的支持，它在抖音的转化率也获得提升，流量成本在下降。 总结一下找位置的三条原则：第一，要基于企业基础。 一定是要符合现有产品和服务特性，企业资源能不能支持到。 第二，顾客能否接受，顾客认知有无空位。 如果已经有人在顾客认知占据了这个位置，你去抢通常会比较难。 第三，竞争是否允许。 很多企业家觉得，我想做什么还要我的竞争对手允许吗？其实是需要的。就像刚才讲的唯品会一样，本质上它面对的竞争已经不允许他做成天猫和京东了，它只能走自己的路。同时也要考虑竞争是不是容易跟进和超越，如果你有一个小小的创新，竞争对手很容易跟进把你封杀掉了，那这个方向也是没有意义的。 2.配资源 有了外部的位置之后，我们还要合理配置资源。企业要根据定位有目的地选择运营活动，建立起一套目标一致的运营体系，确保内部所有的资源环环相扣、朝一个方向运行。 很多企业的运营都是靠老板拍脑袋，没有一个检验的标准。其实每一项运营活动只有指向同一个方向之后，才会相互加强；每一个运营活动通过定位的链接，它会释放更大的作用。 为什么大家会觉得海底捞的服务好呢，正是因为它的每一项活动都是围绕“服务”这个定位去做的。 我们来看看今年的网红老乡鸡，这家企业是怎么去配置资源的呢？今年老乡鸡在疫情期间火了一把。一方面当然是在公关上做了一些动作，但是更重要的他是打好了运营基础，一点就着。 老乡鸡最早以肥西老母鸡汤为核心产品，名字也叫“肥西老母鸡”，当时也是集团化发展，在安徽开了100家快餐店的时候就想走出去，但是一进入上海北京，店就开不下去，失败而归。因为安徽省外没有人知道肥西老母鸡是什么，企业觉得我们肥西的母鸡特别好，一到上海，顾客觉得是鸡特别肥，太油了，不接受。 后来它找到了一个空位——打造“家庭厨房”。原来的快餐，像真功夫、永和，他们都开在商场、机场、车站、码头这些人流非常大的地方，但是老乡鸡开在社区，就是解决人们日常用餐问题。围绕这个位置，老乡鸡打造一套独特的运营体系。原来所有的中式快餐都是学的麦当劳、肯德基。选址都在商业区人流大的地方、推特色产品。但是如果要做家庭厨房，那就不能这么做。 选址方面，老乡鸡基本以社区为主，开在小区旁边，24小时从早餐中餐晚餐到夜宵，回家就有的吃。老乡鸡的菜品都是家常菜，没推特色菜，鸡汤、梅菜扣肉、豆腐这类，每月1日上新菜。老乡鸡没有套餐，而是让顾客单点，因为要让顾客经常吃，经常吃就要自由搭配，不能吃套餐。虽然从企业的角度来讲，套餐效率高、毛利高，但是要去占据家庭厨房的位置，你必须放弃“特色菜”和“套餐”这两项运营活动，基于定位为消费者提供独特价值。 同时它和其他快餐企业的快速服务也不一样，老乡鸡运营的重点是干净，甚至到了洁癖的程度。因为顾客天天要吃，而且要带着小朋友去吃的时候，他们对安全和干净是最重视的。 围绕“家庭厨房”的定位，老乡鸡建立起了一套环环相扣的独特运营体系，是别的快餐学也学不来、学了也没用的。现在老乡鸡的直营门店已经有800多家，2019年的时候成为中式快餐第一品牌。 3.定节奏 第三点就是定节奏——什么时候养精蓄锐，什么时候速战速决。 我们来看看瓜子二手车。瓜子二手车早期是赶集网下面孵化出来的一个二手车频道，业务是C2C模式的二手车交易，瓜子直到今天也在做这件事情。 一开始，创始人杨浩涌就看中了二手车的万亿市场，虽然市场很大，但集中度极低，头部位置空缺，他要去抢占二手车第一的位置。 当时优信、人人车等二手车平台已经各自获得了几轮融资，有先发优势。所以瓜子的战略节奏必须要快，加大传播，抢占心智，不断融资，拓展团队，就是为了要抢占第一的位置。经过一年多的激烈角逐，瓜子抢到了第一的位置，它现在就可以适当放慢一些，因为前面跑得太快，很多的运营需要完善，组织管理也需要加强。这时企业放慢节奏也没关系，因为竞争对手已无还手之力，而且领导者的红利十分可观，瓜子现在的自然流量哪怕是没有打广告都是非常可观的。 经过一年多的调整，明年瓜子节奏又要开始快了。取得领导地位之后，下一步要做的就是自我拓展，要让更多的人，更多的场景都要使用到瓜子的产品。 老乡鸡其实也一样，大家看到老乡鸡今年好像特别火，其实我们特劳特跟老乡鸡已经合作9年了，前面都是默默无闻，为什么要默默无闻？因为它之前的整个运营还不完善，还在“广积粮、缓称王”的阶段。 我们和老乡鸡从2011年开始合作，2015年以前，我们制定的战略都是不允许老乡鸡走出安徽，2011年老乡鸡在安徽只有134家店，到2015年，老乡鸡在安徽开出了300多家，直到2016年才进入南京，然后进入武汉，这两个城市都在安徽周边，老乡鸡在安徽的势能能够影响到，果然一进入就火。到2019年突破800家直营店，现在老乡鸡规划在安徽可以开1000家店。 实际上，前面5年老乡鸡都是在打造根据地，节奏要慢，现在各方面都准备好了，就可以加快了。 战略节奏评估的维度有如下三个： 第一，评估品类成长的速度。 有些品类必须要快，像互联网新经济企业，其实都需要快，因为大家都在抢，不得不快。有一些其实是可以慢一些，像姚劲波先生的天鹅到家，打磨了好多年，到现在才开始真正发力加速。 第二，评估顾客的认知。 顾客的认知如果都是空白的，没有人跟你抢，当然你可以先慢一点；如果顾客认知比较模糊，有几个品牌在比较，这个时候你一定要快、要脱颖而出；如果竞争胶着，一定要尽可能迅速结束战斗，不然会陷入资源消耗战，最后大家都不讨好。 第三，评估企业自身的基础是否支持。 如果战略节奏上要求你要快，自身基础又不支持快的时候，我们就要转到一个更小的、自己能守得住的领域，重新调整企业的战略方向。总结而言，企业做战略的时候，一定要关注顾客视角，从顾客的视角来思考企业的战略。做战略的时候要有三个要点：找位置、配资源、定节奏。

Episode Summary:On episode 8, Matt and Rob speak with Leigh Price, Vice President of Corporate Development & Strategy at IBM.  Leigh has over 30 years in the industry and has overseen just north of 400 purchases at IBM.  In this episode you will learn everything from the strategies IBM takes with acquisitions, how the corporate development team is organized and the importance of culture & integrity in this business.  Leigh also shares his advice for entrepreneurs looking to build a relationship with IBM & why deals can often fall apart in this business. Heads up: At the beginning of this episode Rob says, the undercovered podcast.  Please ignore this blooper, and continue listening to hear more on this episode of the Uncovered Podcast. :) What is Uncovered: How the corporate development team is organized at IBM Where the vast majority of deals are sourced from Leigh's advice for entrepreneurs looking to work with IBM How IBM's culture has changed over the years and the importance of the soft elements during an integration An example of trust being compromised and why integrity in this business means everything. The importance of good business hygiene for startups & why more companies should be spending their time in this area The common reasons deals fall apart from the buyer's perspective Learn more about: Leigh Price: Leigh Price is Vice President, Corporate Development Strategy at IBM where he is responsible for leading the development of IBM's worldwide inorganic strategy including acquisitions and divestitures.  Previously, Leigh was the Vice President of Intellectual Property for IBM, leading its patent and research licensing businesses, contributing nearly $500M to IBM profit.  Before that he spent nearly 15 years in IBM Corporate Development leading both acquisition and divestiture transactions.  His deal sheet numbers over 50 transactions with an aggregate transaction value nearing $20B.Before IBM, Leigh was the CFO and COO of Zucotto Wireless, Inc., a semiconductor startup focusing on Java IP, based in San Diego, California.  While at Zucotto, Leigh raised $42M in 4 private equity financings involving both equity and debt.  Leigh holds a B.S. degree in Chemical Engineering from Rensselaer Polytechnic Institute and an MBA in Finance from the Wharton School of Business.IBM: IBM is a leading cloud platform and cognitive solutions company. Restlessly reinventing since 1911, we are the largest technology and consulting employer in the world, with more than 350,000 employees serving clients in 170 countries. With Watson, the AI platform for business, powered by data, we are building industry-based solutions to real-world problems. For more than seven decades, IBM Research has defined the future of information technology with more than 3,000 researchers in 12 labs located across six continents. For more information, visit www.ibm.com.Quotes from Leigh: “We take a particular focus on culture and change, it's actually a discreet stream in our due diligence and is taken seriously.” “M&A is a relationship business, and trust is an important part of any M&A deal and I've been in deals where that trust has been compromised, and I will never forget those.” “Integrity in my mind is everything in this business” “If both parties want to get a deal done, they will find a way”This episode was recorded on October 2, 2020 

这一期开始讲IBM公司，IBM公司对计算机有巨大的贡献。IBM还有一个名字叫蓝色巨人，我不知道他们是什么时候开始叫蓝色巨人的，反正挺厉害就是了。坊间还有一个取笑IBM公司的，说IBM是International Big Mouth，实际上人家是International Business Machines的缩写，从这个名字中，我们可以推断出，这个公司应该是卖商用机器的，那么卖的什么机器呢？那么最初是卖什么机器的呢？肯定不是计算机，而是一种穿孔卡片系统。IBM公司发展计算机，主要的功劳要记在老沃森和小沃森两代人的身上，这两人是父子两个，这一期主要讲他爸爸，还不存在计算机的年代，来看看IBM公司是如何发展起来的。老沃森最初是个推销员，只是这个推销员是NCR公司（National Cash Register）的王牌推销员，现在NCR公司还存在，当年这个公司卖什么东西呢，主要是卖一些自动收款机这样的东西。老沃森是这个公司里卖的最多的金牌销售员。所说，当年NCR公司是区域销售，比如美国吧，分成很多区，每个人都分一个区，老沃森同学卖的太NB了，不但负责自己这一片区里的销售，还助人为乐的到别人区里卖，没办法，雷锋。所以他拿到的提成超多，多到花不完。又加上老沃森经营有道，公司是不允许跨区销售的，但是，这只对一手产品做了个限制，对二手产品不在乎。于是老沃森开始一边卖新产品，一边囤积二手产品。因为他卖的是自动收款机这种东西，用二手也没什么太大区别，而且还便宜。再加上他特别善于经营，就跟炒房团一样，每到一个大城市，就先低价倾销二手机器，等到别的二手机器商都死了，他就自己独占市场，这样一套组合拳下来，老沃森终于引起了美国政府的注意。于是政府对NCR公司进行了反垄断调查，当然了，最终肯定是有罪，有罪得有人出去背锅，老沃森卖的最好，赚钱最多，于是NCR就把他交给了美国政府。于是老沃森这个金牌销售员被判刑一年，他就花钱找律师，同时和老东家NCR以及美国政府打官司。以我们的眼光来看，当年确实有点亏啊。自己只是个销售员，又不是公司的CEO，背锅也轮不到他啊。后来说他没有入狱，但是与NCR和美国司法部的矛盾贯穿余生。他一生看到老东家NCR就不爽，看到司法部也不爽。按照普通人的一生，我们很难碰到这种情况，所以当我的读书的时候，当我读到这一段，我就会想，如果是我，我会怎么做？我是一个公司的金牌销售员，我不是CEO，也不是管理层，但是这个国家的司法部和自己的公司打官司，最后把我送到监狱里呆一年。如果是我的话，我余生会报复这个公司和这个SB国家的政府机构。这是我的价值观，不要和我谈什么热爱公司，热爱美国，都把我送监狱里去了，我爱个屁。很荣幸的是，老的想法和老沃森相同的。他的余生肯定对老东家NCR和司法部充满了仇恨。所以，在今后他好几次和司法部以及老东家NCR有瓜葛，我们要体会人家这种心情。老沃森并不是从头开始建立的新公司，而是用了一个江河日下的公司，这个公司名字叫Computing-Tabulating-Recording Company，翻译一下大概叫CTR公司，计算制表记录公司。这个公司曾经非常历害，员工高达1300人，做的设备是制表，管理和处理数据的。但是，市场很无情，这个CTR公司在市场竞争中，慢慢落了下风，CEO辞职了。这时候他们要招一位新的CEO，这时候，已经被NCR公司坑了的老沃森担任了这个公司的新CEO，并且把公司重新整顿了一下，改了个名字叫IBM，也就是今天我们所知道的名字。有了这个公司以后，老沃森开始展现出自己的才华，他接手的这个公司卖的设备已经太落后了，不能满足市场的需求，于是他不仅改进了公司的产品，也改变了公司的商业模式。因为他在NCR是金牌销售员，他知道顾客的需求，而且他卖过二手设备，知道很多客户并不想花大价钱买一台自己的机器，于是IBM公司不再卖机器，而是出租机器，所有权仍然属于IBM，但是客户可以花一些钱来租这些机器。IBM提供服务，保证这些机器始终可以使用，这需要和客户有更稳固的关系，并且赢得客户的信任。老沃森招聘了大量的新员工，分成骨干服务人员，这些人员负责维护设备的运行，类似于现在的售后。还有骨干销售人员，这些人负责把设备租出去。而且IBM还把设备以近乎免费的价格送给大学使用，这也就是我在200期所说的IBM的设备太难用了，让Atanasoff一生气就去造计算机去了。这些骨干销售人员我觉得类似于我们的售前。我个人觉得售前负责吹NB，售后负责擦屁股。但是IBM公司应该不是这样，这是IBM公司成功的核心，以优质的服务服务于商业公司。IBM当年虽然没有制造计算机，但是对计算机仍然有巨大的帮助。在200，201期的时候，就讲了Atanasoff的机器用的穿孔设备就是IBM的。实际上，IBM和当时的计算机有数次接触的机会，但是最终都擦肩而过，结果最终让自己的竞争对手兰德公司率先推出了计算机。在兰德公司之前，202期讲的Mauchly和Ecket曾经试图把自己的公司卖给IBM，但是各种原因，IBM没买。我在网上看到过一份当年IBM的报告，他们已经警惕将来会出现一种机器可能会代替自己的穿孔卡片机。IBM就让自己的员工去调研一下，调研的结果是计算机不可能代替他们的穿孔卡片机。原因现在看起来有点搞笑，当时他们试图搞清楚如果用计算机的话，如何存储数据，当时的答案是用磁带。磁带这个东西是德国发明的，我们大部分人认为是爱迪生发明的，其实是德国为了记录希特勒的声音，在1928年发明的，为了让全德国人民都能聆听元首的声音。主要是用氧化铁颗粒来记录声音，然后这项技术后来传到美国了。美国是另外一个国家，和德国不同，他们美国总统没这个需求，就算是有这个需求，美国人也不听他们的总统瞎逼逼。所以，磁带的技术一传到美国，主要的用途就成了记录数据。实际上，现在磁带仍然被广泛使用，我本来以为磁带是上个世纪的产物，没人用了呢。后来工作以后才发现，银行，电信部门的备份，还是用磁带，磁带的好处是存储量大，保质期长。像硬盘的话，5年10年就有可能坏掉了，但是磁带都是50年的质保期。当年IBM的人去调研以后，得出的结论是人不会相信磁带这种技术，因为客户不会把自己重要的生意托付给一个看不见摸不着的东西。把信息存卡片上比存在磁带上要直观的多。当时《时代》杂志是IBM的老客户，订阅时代杂志的美国客户有数百万人，一个订阅客户保存的信息有三张卡片，因此有数千万张卡片，为了保存这数千万张卡片，时代杂志社有一楼，专门用来存放这些卡片。同样，当时的银行，保险公司都有自己的卡片楼。不是有句话叫，人不但要靠自己的奋斗，也要看历史发展的进程。当时的IBM公司，确实错过了这个第一个推出商业计算机的机会。我觉得这也不能完全怪IBM，IBM曾经资助过计算机项目，比如他们资助了哈佛大学的Mark I这个计算机，还资助了哥伦比亚的SSEC计算机，但是这两个计算机都没成功，钱花了好几百万。我个人还有个观点就是，老沃森的年龄太老了，当时，他已经70多岁了，有时候，年轻就是优势。所以大家也要提防我的观点，因为我相比于大多数的听众，也太老了。比如说，我当年用过现在的短视频软件，也看过最著名的那些短视频作者出的视频，当时我的感觉是，这太无聊了，还有的就是放个摄像头在吃东西，有的就是跳了个舞，还不如我跳的钢管舞好看，但是，实际上我还是错了，现在短视频极其火热。IBM公司也是这样，70多岁的老沃森也已经有点跟不上形式了，但是，在他73岁的时候，一件事情刺激了他，和他竞争了一辈子从来没赢过他的兰德公司，竟然做出了商业化的UNIVAC，他就把IBM的这些经理招过来，骂了一顿，问他们是如何丢掉美国人口普查局这个客户的？然后让他们马上动手做一台计算机出来。IBM就是IBM，他们只用了2个月，就拿出来了IBM的计算机，同时支持卡片存储和磁带存储，计算的速度比兰德公司的还要快一点，当老沃森被带到这台机器前，老沃森还是困惑了。这台机器的造价高达100万美元，而当时，IBM最高档次的卡片制表机也不过2万美元一台。这台机器一跑起来，声音非常响，老沃森没有表态，什么也没说就离开了这台机器。他后来计算了一下，这台机器要每个月租3万美元才有利可图，这个价格大大超过以前的价格，当时，一台制表机一个月租500到1000美元就可以了。现在一个月和人家要3万块，估计没戏。陪同老沃森一起看这台机器的还有他的儿子小沃森，小沃森是老沃森在40岁时候生的第一个儿子，中年得子。老沃森使IBM成为美国最强大的公司，因此这个小沃森是个天生的花花公子，学习成绩巨差，他老爸想让他读个好大学，拼命的给美国的大学送机器，结果一流的大学还是拒绝了他。这从侧面说明，当年的美国还不是现在的美国，现在的美国大学连中国人的钱都收，然后给个名额。当年普林斯顿大学拒绝他的时候，是说他是个“注定的失败者”。最后实在是无奈了，他终于去了布朗大学，靠他老爸捐钱捐楼捐机器，而且还差点没毕业。他前半生的爱好是：给好莱坞的女演员捧场。在上个世纪30年代，他是好莱坞女演员都要巴结的花花公子，他有钱，有兴趣投资这些女演员，然后捧红她们。在1939年，也就是他25岁的时候，他去IBM当了个经理，负责IBM的销售。在那里，一年到头，自己的办公室去也不去，但是总是公司里排名前茅的销售精英。除了美女，他有数十辆跑车，还有个业余爱好是养鹳guan（4）鸟，鹳鸟这个东西可不是放在鸟笼里就能养活的，这玩意长的和仙鹤那么大，需要大量的土地，而且还得是湿地，家里有钱，就可以为所欲为，他就购买了一片湿地，修了自己的庄园。并且还热爱飞机，又修了一个飞机跑道。这几个爱好，对他一生的影响非常大。因为他喜欢美女，所以结交的都美女，他的老婆还有关系要好的女人，都非常漂亮，这些漂亮的姑娘结识的也不是一般人，比如他的超级模特老婆，名字叫Olive Cawley，是美国总统肯尼迪那个圈子的，他的老婆就非常厉害了，我上大学时候，他老婆去世的，小沃森的后代有好几个，几乎每一个也都特别的NB，我这里就不说了，如果大家有兴趣可以查一下，富人家的孩子，受教育好，有钱有资源，比穷人家的孩子更容易成才（这么说有点政治不正确了，因为我发现，在中国喜欢说穷人家的孩子经过自己的努力，然后成才了，实际上以我的见识，这种事情并不多见。反而是富人的子女，更容易把持一些重要的职位。）。还有他买了湿地别墅，就在那里建了后来的实验室。他喜欢飞机，在战时他参加了空军，负责给美国的将军开飞机。本来他是要去当空军打仗的，但是他强大的父亲不允许儿子上前线，只好当了将军们的空中司机。这几段经历，都对他产生了巨大的影响。我们都知道首长的司机是比较有权力的，他也算是首长们的司机吧。但是在战争中，他得到了锻炼，他并没有在他的父亲的庇护下做一些特别安全的事情，而是勇敢的承担了非常多危险的飞行任务，比如他护送一些将军和一批弹药飞过被德国包围的莫斯科。从某种意义上来说，他参加了莫斯科保卫战。他执行了多次飞行任务，在穿越纳粹封锁线的时候，还在空中遭遇了德国空军的拦截，虽然他有些战友牺牲了，但是他活了下来，因为这次战斗，他的英勇表现被战友们所敬佩，平生第一次，他被授予飞行组领队的职位。当时美国的将军开始喜欢这个勇敢的小伙子。在战争中，他变得成熟且勇敢。他驾驶的战斗机型号是P-39，也叫空中眼镜蛇。在二战期间，他驾驶飞机的爱好得到了充分的发挥。其实说起来，中国人也要感谢小沃森，当时缅甸是支援中国的最主要的通道，但是缅甸当时没有精确的地图。在二战时候，缅甸到中国的地图就是小沃森带领的飞行大队绘制的，期间他们还要和日本的飞机在空中打架。如果说起来，抗日战争中国之所以取得胜利，除了英勇的中国人民和不怕牺牲的中国军人，对中国帮助最大的外国就是美国了。有一次小沃森的飞机的高度表坏了，而且当时还起了雾，但是最终还是飞回了基地。二战中，小沃森基本上就是苏联，中国，东亚这一边活动，当飞行员。所以，他学会了好几种语言，其中包括俄语，小沃森在卡特当总统的时候，还去苏联当了美国驻苏联大使，当然了，这是后话。经过了战争的洗礼，小沃森已经成熟了，下一期就来讲讲他如何力排众议，全力投资计算机，然后让IBM在他的手里，成为上个世纪最有影响力的公司的。

这一期开始讲IBM公司，IBM公司对计算机有巨大的贡献。IBM还有一个名字叫蓝色巨人，我不知道他们是什么时候开始叫蓝色巨人的，反正挺厉害就是了。坊间还有一个取笑IBM公司的，说IBM是International Big Mouth，实际上人家是International Business Machines的缩写，从这个名字中，我们可以推断出，这个公司应该是卖商用机器的，那么卖的什么机器呢？那么最初是卖什么机器的呢？肯定不是计算机，而是一种穿孔卡片系统。IBM公司发展计算机，主要的功劳要记在老沃森和小沃森两代人的身上，这两人是父子两个，这一期主要讲他爸爸，还不存在计算机的年代，来看看IBM公司是如何发展起来的。老沃森最初是个推销员，只是这个推销员是NCR公司（National Cash Register）的王牌推销员，现在NCR公司还存在，当年这个公司卖什么东西呢，主要是卖一些自动收款机这样的东西。老沃森是这个公司里卖的最多的金牌销售员。所说，当年NCR公司是区域销售，比如美国吧，分成很多区，每个人都分一个区，老沃森同学卖的太NB了，不但负责自己这一片区里的销售，还助人为乐的到别人区里卖，没办法，雷锋。所以他拿到的提成超多，多到花不完。又加上老沃森经营有道，公司是不允许跨区销售的，但是，这只对一手产品做了个限制，对二手产品不在乎。于是老沃森开始一边卖新产品，一边囤积二手产品。因为他卖的是自动收款机这种东西，用二手也没什么太大区别，而且还便宜。再加上他特别善于经营，就跟炒房团一样，每到一个大城市，就先低价倾销二手机器，等到别的二手机器商都死了，他就自己独占市场，这样一套组合拳下来，老沃森终于引起了美国政府的注意。于是政府对NCR公司进行了反垄断调查，当然了，最终肯定是有罪，有罪得有人出去背锅，老沃森卖的最好，赚钱最多，于是NCR就把他交给了美国政府。于是老沃森这个金牌销售员被判刑一年，他就花钱找律师，同时和老东家NCR以及美国政府打官司。以我们的眼光来看，当年确实有点亏啊。自己只是个销售员，又不是公司的CEO，背锅也轮不到他啊。后来说他没有入狱，但是与NCR和美国司法部的矛盾贯穿余生。他一生看到老东家NCR就不爽，看到司法部也不爽。按照普通人的一生，我们很难碰到这种情况，所以当我的读书的时候，当我读到这一段，我就会想，如果是我，我会怎么做？我是一个公司的金牌销售员，我不是CEO，也不是管理层，但是这个国家的司法部和自己的公司打官司，最后把我送到监狱里呆一年。如果是我的话，我余生会报复这个公司和这个SB国家的政府机构。这是我的价值观，不要和我谈什么热爱公司，热爱美国，都把我送监狱里去了，我爱个屁。很荣幸的是，老的想法和老沃森相同的。他的余生肯定对老东家NCR和司法部充满了仇恨。所以，在今后他好几次和司法部以及老东家NCR有瓜葛，我们要体会人家这种心情。老沃森并不是从头开始建立的新公司，而是用了一个江河日下的公司，这个公司名字叫Computing-Tabulating-Recording Company，翻译一下大概叫CTR公司，计算制表记录公司。这个公司曾经非常历害，员工高达1300人，做的设备是制表，管理和处理数据的。但是，市场很无情，这个CTR公司在市场竞争中，慢慢落了下风，CEO辞职了。这时候他们要招一位新的CEO，这时候，已经被NCR公司坑了的老沃森担任了这个公司的新CEO，并且把公司重新整顿了一下，改了个名字叫IBM，也就是今天我们所知道的名字。有了这个公司以后，老沃森开始展现出自己的才华，他接手的这个公司卖的设备已经太落后了，不能满足市场的需求，于是他不仅改进了公司的产品，也改变了公司的商业模式。因为他在NCR是金牌销售员，他知道顾客的需求，而且他卖过二手设备，知道很多客户并不想花大价钱买一台自己的机器，于是IBM公司不再卖机器，而是出租机器，所有权仍然属于IBM，但是客户可以花一些钱来租这些机器。IBM提供服务，保证这些机器始终可以使用，这需要和客户有更稳固的关系，并且赢得客户的信任。老沃森招聘了大量的新员工，分成骨干服务人员，这些人员负责维护设备的运行，类似于现在的售后。还有骨干销售人员，这些人负责把设备租出去。而且IBM还把设备以近乎免费的价格送给大学使用，这也就是我在200期所说的IBM的设备太难用了，让Atanasoff一生气就去造计算机去了。这些骨干销售人员我觉得类似于我们的售前。我个人觉得售前负责吹NB，售后负责擦屁股。但是IBM公司应该不是这样，这是IBM公司成功的核心，以优质的服务服务于商业公司。IBM当年虽然没有制造计算机，但是对计算机仍然有巨大的帮助。在200，201期的时候，就讲了Atanasoff的机器用的穿孔设备就是IBM的。实际上，IBM和当时的计算机有数次接触的机会，但是最终都擦肩而过，结果最终让自己的竞争对手兰德公司率先推出了计算机。在兰德公司之前，202期讲的Mauchly和Ecket曾经试图把自己的公司卖给IBM，但是各种原因，IBM没买。我在网上看到过一份当年IBM的报告，他们已经警惕将来会出现一种机器可能会代替自己的穿孔卡片机。IBM就让自己的员工去调研一下，调研的结果是计算机不可能代替他们的穿孔卡片机。原因现在看起来有点搞笑，当时他们试图搞清楚如果用计算机的话，如何存储数据，当时的答案是用磁带。磁带这个东西是德国发明的，我们大部分人认为是爱迪生发明的，其实是德国为了记录希特勒的声音，在1928年发明的，为了让全德国人民都能聆听元首的声音。主要是用氧化铁颗粒来记录声音，然后这项技术后来传到美国了。美国是另外一个国家，和德国不同，他们美国总统没这个需求，就算是有这个需求，美国人也不听他们的总统瞎逼逼。所以，磁带的技术一传到美国，主要的用途就成了记录数据。实际上，现在磁带仍然被广泛使用，我本来以为磁带是上个世纪的产物，没人用了呢。后来工作以后才发现，银行，电信部门的备份，还是用磁带，磁带的好处是存储量大，保质期长。像硬盘的话，5年10年就有可能坏掉了，但是磁带都是50年的质保期。当年IBM的人去调研以后，得出的结论是人不会相信磁带这种技术，因为客户不会把自己重要的生意托付给一个看不见摸不着的东西。把信息存卡片上比存在磁带上要直观的多。当时《时代》杂志是IBM的老客户，订阅时代杂志的美国客户有数百万人，一个订阅客户保存的信息有三张卡片，因此有数千万张卡片，为了保存这数千万张卡片，时代杂志社有一楼，专门用来存放这些卡片。同样，当时的银行，保险公司都有自己的卡片楼。不是有句话叫，人不但要靠自己的奋斗，也要看历史发展的进程。当时的IBM公司，确实错过了这个第一个推出商业计算机的机会。我觉得这也不能完全怪IBM，IBM曾经资助过计算机项目，比如他们资助了哈佛大学的Mark I这个计算机，还资助了哥伦比亚的SSEC计算机，但是这两个计算机都没成功，钱花了好几百万。我个人还有个观点就是，老沃森的年龄太老了，当时，他已经70多岁了，有时候，年轻就是优势。所以大家也要提防我的观点，因为我相比于大多数的听众，也太老了。比如说，我当年用过现在的短视频软件，也看过最著名的那些短视频作者出的视频，当时我的感觉是，这太无聊了，还有的就是放个摄像头在吃东西，有的就是跳了个舞，还不如我跳的钢管舞好看，但是，实际上我还是错了，现在短视频极其火热。IBM公司也是这样，70多岁的老沃森也已经有点跟不上形式了，但是，在他73岁的时候，一件事情刺激了他，和他竞争了一辈子从来没赢过他的兰德公司，竟然做出了商业化的UNIVAC，他就把IBM的这些经理招过来，骂了一顿，问他们是如何丢掉美国人口普查局这个客户的？然后让他们马上动手做一台计算机出来。IBM就是IBM，他们只用了2个月，就拿出来了IBM的计算机，同时支持卡片存储和磁带存储，计算的速度比兰德公司的还要快一点，当老沃森被带到这台机器前，老沃森还是困惑了。这台机器的造价高达100万美元，而当时，IBM最高档次的卡片制表机也不过2万美元一台。这台机器一跑起来，声音非常响，老沃森没有表态，什么也没说就离开了这台机器。他后来计算了一下，这台机器要每个月租3万美元才有利可图，这个价格大大超过以前的价格，当时，一台制表机一个月租500到1000美元就可以了。现在一个月和人家要3万块，估计没戏。陪同老沃森一起看这台机器的还有他的儿子小沃森，小沃森是老沃森在40岁时候生的第一个儿子，中年得子。老沃森使IBM成为美国最强大的公司，因此这个小沃森是个天生的花花公子，学习成绩巨差，他老爸想让他读个好大学，拼命的给美国的大学送机器，结果一流的大学还是拒绝了他。这从侧面说明，当年的美国还不是现在的美国，现在的美国大学连中国人的钱都收，然后给个名额。当年普林斯顿大学拒绝他的时候，是说他是个“注定的失败者”。最后实在是无奈了，他终于去了布朗大学，靠他老爸捐钱捐楼捐机器，而且还差点没毕业。他前半生的爱好是：给好莱坞的女演员捧场。在上个世纪30年代，他是好莱坞女演员都要巴结的花花公子，他有钱，有兴趣投资这些女演员，然后捧红她们。在1939年，也就是他25岁的时候，他去IBM当了个经理，负责IBM的销售。在那里，一年到头，自己的办公室去也不去，但是总是公司里排名前茅的销售精英。除了美女，他有数十辆跑车，还有个业余爱好是养鹳guan（4）鸟，鹳鸟这个东西可不是放在鸟笼里就能养活的，这玩意长的和仙鹤那么大，需要大量的土地，而且还得是湿地，家里有钱，就可以为所欲为，他就购买了一片湿地，修了自己的庄园。并且还热爱飞机，又修了一个飞机跑道。这几个爱好，对他一生的影响非常大。因为他喜欢美女，所以结交的都美女，他的老婆还有关系要好的女人，都非常漂亮，这些漂亮的姑娘结识的也不是一般人，比如他的超级模特老婆，名字叫Olive Cawley，是美国总统肯尼迪那个圈子的，他的老婆就非常厉害了，我上大学时候，他老婆去世的，小沃森的后代有好几个，几乎每一个也都特别的NB，我这里就不说了，如果大家有兴趣可以查一下，富人家的孩子，受教育好，有钱有资源，比穷人家的孩子更容易成才（这么说有点政治不正确了，因为我发现，在中国喜欢说穷人家的孩子经过自己的努力，然后成才了，实际上以我的见识，这种事情并不多见。反而是富人的子女，更容易把持一些重要的职位。）。还有他买了湿地别墅，就在那里建了后来的实验室。他喜欢飞机，在战时他参加了空军，负责给美国的将军开飞机。本来他是要去当空军打仗的，但是他强大的父亲不允许儿子上前线，只好当了将军们的空中司机。这几段经历，都对他产生了巨大的影响。我们都知道首长的司机是比较有权力的，他也算是首长们的司机吧。但是在战争中，他得到了锻炼，他并没有在他的父亲的庇护下做一些特别安全的事情，而是勇敢的承担了非常多危险的飞行任务，比如他护送一些将军和一批弹药飞过被德国包围的莫斯科。从某种意义上来说，他参加了莫斯科保卫战。他执行了多次飞行任务，在穿越纳粹封锁线的时候，还在空中遭遇了德国空军的拦截，虽然他有些战友牺牲了，但是他活了下来，因为这次战斗，他的英勇表现被战友们所敬佩，平生第一次，他被授予飞行组领队的职位。当时美国的将军开始喜欢这个勇敢的小伙子。在战争中，他变得成熟且勇敢。他驾驶的战斗机型号是P-39，也叫空中眼镜蛇。在二战期间，他驾驶飞机的爱好得到了充分的发挥。其实说起来，中国人也要感谢小沃森，当时缅甸是支援中国的最主要的通道，但是缅甸当时没有精确的地图。在二战时候，缅甸到中国的地图就是小沃森带领的飞行大队绘制的，期间他们还要和日本的飞机在空中打架。如果说起来，抗日战争中国之所以取得胜利，除了英勇的中国人民和不怕牺牲的中国军人，对中国帮助最大的外国就是美国了。有一次小沃森的飞机的高度表坏了，而且当时还起了雾，但是最终还是飞回了基地。二战中，小沃森基本上就是苏联，中国，东亚这一边活动，当飞行员。所以，他学会了好几种语言，其中包括俄语，小沃森在卡特当总统的时候，还去苏联当了美国驻苏联大使，当然了，这是后话。经过了战争的洗礼，小沃森已经成熟了，下一期就来讲讲他如何力排众议，全力投资计算机，然后让IBM在他的手里，成为上个世纪最有影响力的公司的。

这一期开始讲IBM公司，IBM公司对计算机有巨大的贡献。IBM还有一个名字叫蓝色巨人，我不知道他们是什么时候开始叫蓝色巨人的，反正挺厉害就是了。坊间还有一个取笑IBM公司的，说IBM是International Big Mouth，实际上人家是International Business Machines的缩写，从这个名字中，我们可以推断出，这个公司应该是卖商用机器的，那么卖的什么机器呢？那么最初是卖什么机器的呢？肯定不是计算机，而是一种穿孔卡片系统。IBM公司发展计算机，主要的功劳要记在老沃森和小沃森两代人的身上，这两人是父子两个，这一期主要讲他爸爸，还不存在计算机的年代，来看看IBM公司是如何发展起来的。老沃森最初是个推销员，只是这个推销员是NCR公司（National Cash Register）的王牌推销员，现在NCR公司还存在，当年这个公司卖什么东西呢，主要是卖一些自动收款机这样的东西。老沃森是这个公司里卖的最多的金牌销售员。所说，当年NCR公司是区域销售，比如美国吧，分成很多区，每个人都分一个区，老沃森同学卖的太NB了，不但负责自己这一片区里的销售，还助人为乐的到别人区里卖，没办法，雷锋。所以他拿到的提成超多，多到花不完。又加上老沃森经营有道，公司是不允许跨区销售的，但是，这只对一手产品做了个限制，对二手产品不在乎。于是老沃森开始一边卖新产品，一边囤积二手产品。因为他卖的是自动收款机这种东西，用二手也没什么太大区别，而且还便宜。再加上他特别善于经营，就跟炒房团一样，每到一个大城市，就先低价倾销二手机器，等到别的二手机器商都死了，他就自己独占市场，这样一套组合拳下来，老沃森终于引起了美国政府的注意。于是政府对NCR公司进行了反垄断调查，当然了，最终肯定是有罪，有罪得有人出去背锅，老沃森卖的最好，赚钱最多，于是NCR就把他交给了美国政府。于是老沃森这个金牌销售员被判刑一年，他就花钱找律师，同时和老东家NCR以及美国政府打官司。以我们的眼光来看，当年确实有点亏啊。自己只是个销售员，又不是公司的CEO，背锅也轮不到他啊。后来说他没有入狱，但是与NCR和美国司法部的矛盾贯穿余生。他一生看到老东家NCR就不爽，看到司法部也不爽。按照普通人的一生，我们很难碰到这种情况，所以当我的读书的时候，当我读到这一段，我就会想，如果是我，我会怎么做？我是一个公司的金牌销售员，我不是CEO，也不是管理层，但是这个国家的司法部和自己的公司打官司，最后把我送到监狱里呆一年。如果是我的话，我余生会报复这个公司和这个SB国家的政府机构。这是我的价值观，不要和我谈什么热爱公司，热爱美国，都把我送监狱里去了，我爱个屁。很荣幸的是，老的想法和老沃森相同的。他的余生肯定对老东家NCR和司法部充满了仇恨。所以，在今后他好几次和司法部以及老东家NCR有瓜葛，我们要体会人家这种心情。老沃森并不是从头开始建立的新公司，而是用了一个江河日下的公司，这个公司名字叫Computing-Tabulating-Recording Company，翻译一下大概叫CTR公司，计算制表记录公司。这个公司曾经非常历害，员工高达1300人，做的设备是制表，管理和处理数据的。但是，市场很无情，这个CTR公司在市场竞争中，慢慢落了下风，CEO辞职了。这时候他们要招一位新的CEO，这时候，已经被NCR公司坑了的老沃森担任了这个公司的新CEO，并且把公司重新整顿了一下，改了个名字叫IBM，也就是今天我们所知道的名字。有了这个公司以后，老沃森开始展现出自己的才华，他接手的这个公司卖的设备已经太落后了，不能满足市场的需求，于是他不仅改进了公司的产品，也改变了公司的商业模式。因为他在NCR是金牌销售员，他知道顾客的需求，而且他卖过二手设备，知道很多客户并不想花大价钱买一台自己的机器，于是IBM公司不再卖机器，而是出租机器，所有权仍然属于IBM，但是客户可以花一些钱来租这些机器。IBM提供服务，保证这些机器始终可以使用，这需要和客户有更稳固的关系，并且赢得客户的信任。老沃森招聘了大量的新员工，分成骨干服务人员，这些人员负责维护设备的运行，类似于现在的售后。还有骨干销售人员，这些人负责把设备租出去。而且IBM还把设备以近乎免费的价格送给大学使用，这也就是我在200期所说的IBM的设备太难用了，让Atanasoff一生气就去造计算机去了。这些骨干销售人员我觉得类似于我们的售前。我个人觉得售前负责吹NB，售后负责擦屁股。但是IBM公司应该不是这样，这是IBM公司成功的核心，以优质的服务服务于商业公司。IBM当年虽然没有制造计算机，但是对计算机仍然有巨大的帮助。在200，201期的时候，就讲了Atanasoff的机器用的穿孔设备就是IBM的。实际上，IBM和当时的计算机有数次接触的机会，但是最终都擦肩而过，结果最终让自己的竞争对手兰德公司率先推出了计算机。在兰德公司之前，202期讲的Mauchly和Ecket曾经试图把自己的公司卖给IBM，但是各种原因，IBM没买。我在网上看到过一份当年IBM的报告，他们已经警惕将来会出现一种机器可能会代替自己的穿孔卡片机。IBM就让自己的员工去调研一下，调研的结果是计算机不可能代替他们的穿孔卡片机。原因现在看起来有点搞笑，当时他们试图搞清楚如果用计算机的话，如何存储数据，当时的答案是用磁带。磁带这个东西是德国发明的，我们大部分人认为是爱迪生发明的，其实是德国为了记录希特勒的声音，在1928年发明的，为了让全德国人民都能聆听元首的声音。主要是用氧化铁颗粒来记录声音，然后这项技术后来传到美国了。美国是另外一个国家，和德国不同，他们美国总统没这个需求，就算是有这个需求，美国人也不听他们的总统瞎逼逼。所以，磁带的技术一传到美国，主要的用途就成了记录数据。实际上，现在磁带仍然被广泛使用，我本来以为磁带是上个世纪的产物，没人用了呢。后来工作以后才发现，银行，电信部门的备份，还是用磁带，磁带的好处是存储量大，保质期长。像硬盘的话，5年10年就有可能坏掉了，但是磁带都是50年的质保期。当年IBM的人去调研以后，得出的结论是人不会相信磁带这种技术，因为客户不会把自己重要的生意托付给一个看不见摸不着的东西。把信息存卡片上比存在磁带上要直观的多。当时《时代》杂志是IBM的老客户，订阅时代杂志的美国客户有数百万人，一个订阅客户保存的信息有三张卡片，因此有数千万张卡片，为了保存这数千万张卡片，时代杂志社有一楼，专门用来存放这些卡片。同样，当时的银行，保险公司都有自己的卡片楼。不是有句话叫，人不但要靠自己的奋斗，也要看历史发展的进程。当时的IBM公司，确实错过了这个第一个推出商业计算机的机会。我觉得这也不能完全怪IBM，IBM曾经资助过计算机项目，比如他们资助了哈佛大学的Mark I这个计算机，还资助了哥伦比亚的SSEC计算机，但是这两个计算机都没成功，钱花了好几百万。我个人还有个观点就是，老沃森的年龄太老了，当时，他已经70多岁了，有时候，年轻就是优势。所以大家也要提防我的观点，因为我相比于大多数的听众，也太老了。比如说，我当年用过现在的短视频软件，也看过最著名的那些短视频作者出的视频，当时我的感觉是，这太无聊了，还有的就是放个摄像头在吃东西，有的就是跳了个舞，还不如我跳的钢管舞好看，但是，实际上我还是错了，现在短视频极其火热。IBM公司也是这样，70多岁的老沃森也已经有点跟不上形式了，但是，在他73岁的时候，一件事情刺激了他，和他竞争了一辈子从来没赢过他的兰德公司，竟然做出了商业化的UNIVAC，他就把IBM的这些经理招过来，骂了一顿，问他们是如何丢掉美国人口普查局这个客户的？然后让他们马上动手做一台计算机出来。IBM就是IBM，他们只用了2个月，就拿出来了IBM的计算机，同时支持卡片存储和磁带存储，计算的速度比兰德公司的还要快一点，当老沃森被带到这台机器前，老沃森还是困惑了。这台机器的造价高达100万美元，而当时，IBM最高档次的卡片制表机也不过2万美元一台。这台机器一跑起来，声音非常响，老沃森没有表态，什么也没说就离开了这台机器。他后来计算了一下，这台机器要每个月租3万美元才有利可图，这个价格大大超过以前的价格，当时，一台制表机一个月租500到1000美元就可以了。现在一个月和人家要3万块，估计没戏。陪同老沃森一起看这台机器的还有他的儿子小沃森，小沃森是老沃森在40岁时候生的第一个儿子，中年得子。老沃森使IBM成为美国最强大的公司，因此这个小沃森是个天生的花花公子，学习成绩巨差，他老爸想让他读个好大学，拼命的给美国的大学送机器，结果一流的大学还是拒绝了他。这从侧面说明，当年的美国还不是现在的美国，现在的美国大学连中国人的钱都收，然后给个名额。当年普林斯顿大学拒绝他的时候，是说他是个“注定的失败者”。最后实在是无奈了，他终于去了布朗大学，靠他老爸捐钱捐楼捐机器，而且还差点没毕业。他前半生的爱好是：给好莱坞的女演员捧场。在上个世纪30年代，他是好莱坞女演员都要巴结的花花公子，他有钱，有兴趣投资这些女演员，然后捧红她们。在1939年，也就是他25岁的时候，他去IBM当了个经理，负责IBM的销售。在那里，一年到头，自己的办公室去也不去，但是总是公司里排名前茅的销售精英。除了美女，他有数十辆跑车，还有个业余爱好是养鹳guan（4）鸟，鹳鸟这个东西可不是放在鸟笼里就能养活的，这玩意长的和仙鹤那么大，需要大量的土地，而且还得是湿地，家里有钱，就可以为所欲为，他就购买了一片湿地，修了自己的庄园。并且还热爱飞机，又修了一个飞机跑道。这几个爱好，对他一生的影响非常大。因为他喜欢美女，所以结交的都美女，他的老婆还有关系要好的女人，都非常漂亮，这些漂亮的姑娘结识的也不是一般人，比如他的超级模特老婆，名字叫Olive Cawley，是美国总统肯尼迪那个圈子的，他的老婆就非常厉害了，我上大学时候，他老婆去世的，小沃森的后代有好几个，几乎每一个也都特别的NB，我这里就不说了，如果大家有兴趣可以查一下，富人家的孩子，受教育好，有钱有资源，比穷人家的孩子更容易成才（这么说有点政治不正确了，因为我发现，在中国喜欢说穷人家的孩子经过自己的努力，然后成才了，实际上以我的见识，这种事情并不多见。反而是富人的子女，更容易把持一些重要的职位。）。还有他买了湿地别墅，就在那里建了后来的实验室。他喜欢飞机，在战时他参加了空军，负责给美国的将军开飞机。本来他是要去当空军打仗的，但是他强大的父亲不允许儿子上前线，只好当了将军们的空中司机。这几段经历，都对他产生了巨大的影响。我们都知道首长的司机是比较有权力的，他也算是首长们的司机吧。但是在战争中，他得到了锻炼，他并没有在他的父亲的庇护下做一些特别安全的事情，而是勇敢的承担了非常多危险的飞行任务，比如他护送一些将军和一批弹药飞过被德国包围的莫斯科。从某种意义上来说，他参加了莫斯科保卫战。他执行了多次飞行任务，在穿越纳粹封锁线的时候，还在空中遭遇了德国空军的拦截，虽然他有些战友牺牲了，但是他活了下来，因为这次战斗，他的英勇表现被战友们所敬佩，平生第一次，他被授予飞行组领队的职位。当时美国的将军开始喜欢这个勇敢的小伙子。在战争中，他变得成熟且勇敢。他驾驶的战斗机型号是P-39，也叫空中眼镜蛇。在二战期间，他驾驶飞机的爱好得到了充分的发挥。其实说起来，中国人也要感谢小沃森，当时缅甸是支援中国的最主要的通道，但是缅甸当时没有精确的地图。在二战时候，缅甸到中国的地图就是小沃森带领的飞行大队绘制的，期间他们还要和日本的飞机在空中打架。如果说起来，抗日战争中国之所以取得胜利，除了英勇的中国人民和不怕牺牲的中国军人，对中国帮助最大的外国就是美国了。有一次小沃森的飞机的高度表坏了，而且当时还起了雾，但是最终还是飞回了基地。二战中，小沃森基本上就是苏联，中国，东亚这一边活动，当飞行员。所以，他学会了好几种语言，其中包括俄语，小沃森在卡特当总统的时候，还去苏联当了美国驻苏联大使，当然了，这是后话。经过了战争的洗礼，小沃森已经成熟了，下一期就来讲讲他如何力排众议，全力投资计算机，然后让IBM在他的手里，成为上个世纪最有影响力的公司的。

Bert Hochfeld will help you become a better tech investor. He's been in the game 50 years and he really knows technology inside and out. Thank you so much for listening, we really appreciate you. If you have found this valuable, please consider leaving us a review as it will help more people find it! Thanks you're awesome! You can find more information and content by going to these places: Website: https://www.investingcity.org YouTube: Investing City Twitter: investing_city Instagram: investing_city Or feel free to email us at service@investingcity.org Again, we really appreciate that you would take the time to listen. Hope it was valuable. Let us know if you have any questions! Below you will find our entire conversation transcripted for those with hearing problems or just if you like reading more than listening. Enjoy! Ryan Reeves We are live and just so excited to have Bert Hochfeld on the podcast. Bert is a legend in the equity research space. And we're just so honored to have you on. Bert Hochfeld Well, that's very nice. I don't know if I'm a legend- if I'm a legend, I hope It's a good one. Ryan Reeves Okay, so let's just hop right into it. Bert, can you give us a little bit of your background and how you got interested in the stock market and maybe just kind of your progression to where you are now? Bert Hochfeld Sure. Well, that's a bit of a long story. But I've been interested in the stock market for, believe it or not, 60 years or something like that. My parents encouraged my interest. And my father tried to teach me a little bit about the stock market. I've always been fascinated by how the financial markets work. And I was fortunate enough to go to the University of Pennsylvania where the practice of econometrics was being developed in the early 1960s. And then I went to HBS, and then I went to work for IBM (IBM). And so I had a good background in this area. And I after I worked at IBM, I worked at several other tech companies, Raytheon Data Systems, BMC software, etc. And then finally, I decided I wanted to come back to the northeast after I was in Houston. And so I came back up here 25 years ago and got into working for a variety of companies. I set up my own independent research company, when that became the way of doing this business. I set up a hedge fund as well that invested in the tech area. And over time I decided that I would set up a website subscription service for people that are interested in investing in tech investing. And that's called Ticker Target. And I welcome listeners to subscribe. That's where I am today. Ryan Reeves So your first job out of HBS was at IBM. Was that kind of a turning point in you becoming really interested in technology or had you been interested before that? Bert Hochfeld I've been interested in technology for a long, long time and had been interested in working at IBM for a long, long time. And I had that opportunity back in 1969, IBM was kind enough to hire me after my military service. And so I went to work there as a financial analyst doing pricing and planning. And I got to understand how the computer industry worked at that time. From the perspective of the dominant player. I mean, it's hard to believe today, it's a sad story. But IBM as you may or may not be aware, basically was the number one company in the space and it had the opportunity to remain a dominant player for many years. Sadly, it didn't choose to grasp the nettle so to speak- it was always an issue with IBM, the level of money they might leave on the table, if they innovated too rapidly. Ryan Reeves From your perspective do you think there's something that they, obviously, should have seen -- some paradigm shift in tech, because you read all Clayton Christensen's kind of literature on these big companies being disrupted. And how...

蚂蚁金服董事长兼CEO井贤栋在首届天下码商大会上宣布，助力线下小微经营者数字化经营的“天下码商成长计划”将全面升级：未来支付宝将为1亿小微经营者提供数字化经营工具；2018年底前多收多保要覆盖5000万码商，为码商实际报销门诊看病费用超过5亿元；网商银行三年内要服务3000万小微企业和个体经营者。 共享租车公司途歌推出了“送车上门”的新功能，用户在输入地址和选择车型后下单，便会有人把车辆送到用户指定地点。使用这个功能会增收20元的服务费，其他计费方法不变。记者体验，交接过程耗时20分钟左右。目前，送车上门的功能只在望京地区开放，这一功能如何才能在大范围推广后继续正常运转，还需要进一步探寻。 贾跃亭在美国诉顾颖琼诽谤一案近日尘埃落定，华盛顿州国王郡高级法院向顾颖琼下达了一项永久性禁令，将永久禁止顾颖琼发布任何针对贾跃亭及其家人的虚假言论，并禁止顾颖琼联络包括但不限于FF等与贾跃亭有关公司的员工及债权人。昨天，贾跃亭转发了这条新闻并且评论道：“是非曲直，自有日月”。此前10月23号，顾颖琼在他的微信公众号发布道歉信，表示之前发表的贾跃亭或他的公司正在接受美国政府调查，贾跃亭曾将公司财产通过信托形式转移给家人等为虚假言论，并向贾跃亭公开道歉。 据美国《华尔街日报》报道，知情人士透露，滴滴出行的部分股票在私下交易中易主，交易的价格显示公司的估值大约在500亿美元到520亿美元之间。与公司在2017年底的估值相比，现在的估值明显下降。当时，滴滴出行曾以560亿美元估值从日本软银等投资者手中获得40亿美元融资。监管文件显示，一些投资基金已经在最近几个月中减记了他们持有的滴滴股份的价值。 外媒报道称，拜腾汽车CEO兼联合创始人卡斯滕·布雷特菲尔德在接受德国媒体采访时说，拜腾可能会通过IPO融资来支持增长。拜腾汽车内部人士表示：“拜腾已经启动C轮融资, 目前相关进展顺利。我们目前没有具体的上市计划。作为一家创业公司，拜腾会把上市作为支持业务长远发展的融资途径来考虑。我们会适时和媒体朋友沟通拜腾融资方面的相关进展。” IBM和红帽宣布，IBM将以334亿美元的价格收购开源的企业软件制造商红帽公司Red Hat。根据一份联合声明，IBM将支付现金，以每股190美元的价格购买红帽公司的所有股票。这使周五红帽公司收盘价每股116.68美元溢价63%。红帽公司将成为IBM混合云部门的一部分，红帽CEO吉姆·怀特赫斯特将加入IBM的高级管理团队。美国科技媒体The Next Web认为，IBM收购红帽的交易将会影响云计算行业和Linux生态系统。 据《每日电讯》报道，Twitter计划移除“点赞”功能，以提高这家社交网络上辩论的质量。上周，Twitter CEO杰克·多西在公司一场活动上确认，他并不喜欢点赞功能，并将“很快”移除点赞功能。 8点1氪，今日言论。阿里OS首席架构师谢炎提出，“汽车会是下一个移动智能终端，而操作系统则会成为核心部件。其完整性、安全性、以及生态丰富性是决定未来发展的关键。”他认为，未来中国汽车产业对外开放服务的只有两种OS：一种是完全针对汽车驾驶场景从底层开始自主研发的操作系统 阿里OS；一种是基于安卓等修改的其他OS。

蚂蚁金服董事长兼CEO井贤栋在首届天下码商大会上宣布，助力线下小微经营者数字化经营的“天下码商成长计划”将全面升级：未来支付宝将为1亿小微经营者提供数字化经营工具；2018年底前多收多保要覆盖5000万码商，为码商实际报销门诊看病费用超过5亿元；网商银行三年内要服务3000万小微企业和个体经营者。 共享租车公司途歌推出了“送车上门”的新功能，用户在输入地址和选择车型后下单，便会有人把车辆送到用户指定地点。使用这个功能会增收20元的服务费，其他计费方法不变。记者体验，交接过程耗时20分钟左右。目前，送车上门的功能只在望京地区开放，这一功能如何才能在大范围推广后继续正常运转，还需要进一步探寻。 贾跃亭在美国诉顾颖琼诽谤一案近日尘埃落定，华盛顿州国王郡高级法院向顾颖琼下达了一项永久性禁令，将永久禁止顾颖琼发布任何针对贾跃亭及其家人的虚假言论，并禁止顾颖琼联络包括但不限于FF等与贾跃亭有关公司的员工及债权人。昨天，贾跃亭转发了这条新闻并且评论道：“是非曲直，自有日月”。此前10月23号，顾颖琼在他的微信公众号发布道歉信，表示之前发表的贾跃亭或他的公司正在接受美国政府调查，贾跃亭曾将公司财产通过信托形式转移给家人等为虚假言论，并向贾跃亭公开道歉。 据美国《华尔街日报》报道，知情人士透露，滴滴出行的部分股票在私下交易中易主，交易的价格显示公司的估值大约在500亿美元到520亿美元之间。与公司在2017年底的估值相比，现在的估值明显下降。当时，滴滴出行曾以560亿美元估值从日本软银等投资者手中获得40亿美元融资。监管文件显示，一些投资基金已经在最近几个月中减记了他们持有的滴滴股份的价值。 外媒报道称，拜腾汽车CEO兼联合创始人卡斯滕·布雷特菲尔德在接受德国媒体采访时说，拜腾可能会通过IPO融资来支持增长。拜腾汽车内部人士表示：“拜腾已经启动C轮融资, 目前相关进展顺利。我们目前没有具体的上市计划。作为一家创业公司，拜腾会把上市作为支持业务长远发展的融资途径来考虑。我们会适时和媒体朋友沟通拜腾融资方面的相关进展。” IBM和红帽宣布，IBM将以334亿美元的价格收购开源的企业软件制造商红帽公司Red Hat。根据一份联合声明，IBM将支付现金，以每股190美元的价格购买红帽公司的所有股票。这使周五红帽公司收盘价每股116.68美元溢价63%。红帽公司将成为IBM混合云部门的一部分，红帽CEO吉姆·怀特赫斯特将加入IBM的高级管理团队。美国科技媒体The Next Web认为，IBM收购红帽的交易将会影响云计算行业和Linux生态系统。 据《每日电讯》报道，Twitter计划移除“点赞”功能，以提高这家社交网络上辩论的质量。上周，Twitter CEO杰克·多西在公司一场活动上确认，他并不喜欢点赞功能，并将“很快”移除点赞功能。 8点1氪，今日言论。阿里OS首席架构师谢炎提出，“汽车会是下一个移动智能终端，而操作系统则会成为核心部件。其完整性、安全性、以及生态丰富性是决定未来发展的关键。”他认为，未来中国汽车产业对外开放服务的只有两种OS：一种是完全针对汽车驾驶场景从底层开始自主研发的操作系统 阿里OS；一种是基于安卓等修改的其他OS。

Trading Block: Oprah buys 10% of Weight Watchers, stock soars. Also, earnings! Walmart (WMT) stock plunged 10% last week on sharply lower guidance from the company. Analysts expect Amazon (AMZN) to report a 21% jump in revenue compared with the year-ago period. Yahoo (YHOO) is also expected to notch a 15% jump in revenue. Analysts are betting on Microsoft (MSFT) and IBM (IBM) to maintain reasonably healthy profits amid falling revenue, while American Airlines (AAL) is likely to see a big jump in earnings on plummeting fuel prices. Odd Block: Calls trade in Santander Consumer USA (SC), calls trade in Sirius XM Holdings (SIRI), and uts trade in Weight Watchers Intl. (WTW). Strategy Block: Tosaw discusses his most recent trading activities and why he has been staying away from bonds. Mail Block: Listener questions and comments Question from ONV - Do you focus on all stock options that trade at large multiples, or is there some other way that you determine which names to analyze? Around the Block: Google stands out amid low earnings expectations.