MM071: US stocks suffer sharpest first-half drop for more than 50 years Yesterday saw H1 2022 draw to a conclusion with the S&P 500 closing down 20.6% year-to-date making the worst first six months of any year since 1970.We discuss why stocks have had such a bad year and delve deeper into the diverging performances of the different equity sectors. For example, exploring why the energy sector is up over 30% whilst the Consumer Discretionary sector is down over 30%. We discuss how the bounce in stocks last week was nothing to do with fundamentals and was actually driven by quarter end rebalancing.We also discuss equity and debt capital markets and how the IPO space has collapsed in 2022 with funds raised in US IPOs at its lowest since 1999! Finally, we discuss private market capital raising and how the FinTech world is being forced to raise capital at much lower valuations than previous rounds and how this is impacting investor appetite and sentiment.Daily newsletter https://amplifyme.com/market-makerTake a Finance Accelerator simulation https://amplifyme.com/course/finance-acceleratorConnect with Anthony https://www.linkedin.com/in/anthonycheung10/Connect with Piers https://www.linkedin.com/in/pierscurran/ See acast.com/privacy for privacy and opt-out information.
Today founder of Checkout Promotions, Gil Greenberg, is joining the show. We recap Shopify Editions, the transformation of the Shop App, the overcrowding of the developer ecosystem, and how to thrive as an app developer in eCom. Listen now!Like Never Before“You're starting to see a lot of developers that actually want to run businesses for their apps and employing fundamentals to do so.”-Gil Greenberg“There's a world where Shopify didn't IPO 6 or 7 years ago, and my theory is that part of Shopify's success was that so many people were able to realize personal benefit from the growth of the stock. What if Magento IPO'd instead? We'll never know.” - PhillipThe Shopify platform is now huge and it encompasses way more than anyone outside of the ecosystem, but even more than most people in the ecosystem realize“You either follow Shopify's way or you're on the highway” - GilThe launch of Shopify Functions will allow you to extend the platform where other APIs won't let you“There's still a lot of room for better experiences. You have all these apps, where's the centralized billing or better pricing when you're using multiple apps? I just haven't seen anything truly interesting appear yet.” -GilAssociated Links:Learn more about Gil Greenberg and Checkout PromotionsTokengated Commerce- Business Breakdowns PodcastInsiders #123: A Marketer's Guide To The Multiverse Of MadnessDownload VISIONS 2022 NOW! Subscribe to Insiders and Senses to read more of our hot takes! Listen to our other episodes of Future CommerceCheck out Decoded, our newest limited seriesHave any questions or comments about the show? Let us know on Futurecommerce.fm, or reach out to us on Twitter, Facebook, Instagram, or LinkedIn. We love hearing from our listeners!
With its stock down close to 80% since its IPO less than a year ago, it's been a tough start to life as a public company for Robinhood. Now, with regulators circling and crypto companies eyeing it up as a potential acquisition target, is there any way back? In this episode, we also discuss: The banning of Juul e-cigarettes in the US and if similar bans are coming for alcohol companies. Why Zendesk is becoming a private company. And Rory and Anne Marie give their elevator pitches for two companies they are researching at the moment — NerdWallet and McCormick. Want to listen in to Anne Marie's full pitch on NerdWallet? Then check out the extended version of Stock Club, available exclusively in the MyWallSt app right now. MyWallSt operates a full disclosure policy. MyWallSt staff may hold long positions in some of the companies mentioned in this podcast. --- Send in a voice message: https://anchor.fm/stock-club/message
Welcome back to the Pear Healthcare Playbook! Every week, we'll be getting to know trailblazing healthcare leaders and dive into building a digital health business from 0 to 1— this week, we're also joined by Eddie Eltoukhy, bio partner at Pear VC and formerly Head of Business Development at Senti Biosciences. This week, we're super excited to have AmirAli Talasaz, co-CEO and co-founder of Guardant Health, a leading precision oncology company focused on helping conquer cancer globally. Founded in 2011, Guardant Health is focused on helping conquer cancer through the use of its proprietary blood-based tests, vast data sets and advanced analytics. Guardant's solutions include treatment selection, recurrence detection and early detection of cancer. The Guardant Health oncology platform leverages capabilities to drive commercial adoption, improve patient clinical outcomes and lower healthcare costs across all stages of the cancer care continuum. Through multiple rounds of private financing, Guardant Health raised over $500 million from investors including Sequoia, Khosla, Lightspeed, OrbiMed, and Softbank, and Pear! and Guardant completed a successful IPO in October 2018.
The digital brokerage is worth less than a quarter of its $32 bln IPO value. In this Viewsroom podcast, Breakingviews columnists argue that its $7 bln cash pile and ample user base make it an attractive target. Also, Western leaders' plan to restrict funds to Moscow may backfire. Learn more about your ad choices. Visit megaphone.fm/adchoices
Sign Up & Play: https://codes.jockmkt.com/?utm_campaign=POWER Web version: https://beta.app.jockmkt.com/ Join Rick Gehman and Joe Idone as they analyze the Jock MKT for the John Deere Classic. The IPO phase will close during the Live Show, so have your bids ready! Use code "POWER" for a deposit bonus. _______________ ⛳ Data & Tools: RickRunGood.com ⛳ My Twitter: https://twitter.com/RickRunGood ⛳ Newsletter: https://rickrungood.substack.com ⛳ Sportsbook Offers: RickRunGood.com/Bets ⛳ Props Tool: RunGoodProps.com ⛳ PrizePicks 100% MATCH | CODE: RICK https://app.prizepicks.com/sign-up?invite_code=Rick ⛳ Jock MKT 100% MATCH | CODE: RICK: http://codes.jockmkt.co/landing/RICK My Instagram: https://www.instagram.com/rickgehman/ Merch: http://www.RunGoodStore.com Background Prints: https://bit.ly/3F5beuH Resources Most Profitable Way To Bet Golf: https://youtu.be/_pGNx1N1AGc Mistakes to Avoid: https://youtu.be/RDIktHmfkt4 Golf Stats: http://www.rickrungood.com/ ______________ All RickRunGood Versions: Video: http://bit.ly/2LJTT0P Audio: http://bit.ly/2LJTprw iTunes: https://apple.co/2LDxLVy Spotify: https://spoti.fi/2YF3rm4 Stitcher: http://bit.ly/2LDxNwE Castbox: http://bit.ly/2LPq5j8 TuneIn: http://bit.ly/2YxRDCh Radio Public: http://bit.ly/31dtU86 iHeart Radio: https://ihr.fm/2LJT0W2 First Cut Podcast: https://plnk.to/TheFirstCut #JohnDeereClassic #TPCDeereRun #JockMKT #PGATOUR #Golf #PrizePicks #FantasyGolf #PGA #OneAndDone #RickRunGood #Draftkings Gambling problem? Call 1-800-GAMBLER (NJ/PA/IL), 1-800-9-WITH-IT (IN only), 1-800-BETS-OFF (IA only), 1-800-522-4700 (CO Only), TN REDLINE: 800-889-9789 or 1-888-532-3500 (VA only). Learn more about your ad choices. Visit podcastchoices.com/adchoices
As an attorney, a CPA, and a CFP®, Aaron runs a wealth management practice that integrates tax, financial planning and investing. Aaron helps his client minimize their tax liability and keep more of their equity compensation so they can support the people they love and the causes they care about most. Whether in Silicon Valley, Austin, or the Tech Triangle, he works with pre-IPO executives and early employees at late-state tech companies. In 2019, Aaron published his first book “Financial Adulting'' as a guide to help young professionals navigate tax, investment, and estate planning. During the show we discuss: ● Why pay more taxes than we should and how to pay less ● Some Income tax nuances for stock options ● What triggers you to pay more taxes than you should ● The worst of the tax mistakes ● The worst investment decision ● The best investment decision ● Stock options tax secret you wish people knew about ● Investments for people who don't have an advisor ● When should someone at a pre-IPO company contact an advisor ● What You Should Know About the IPO Lockup Period ● How to plan for an IPO ● The Crucial Financial Planning Steps to Take When Anticipating an IPO ● The pitfalls to avoid ● The non-starters for IPOs ● How to get credit to buy stock options ● How not using a financial planner will hurt you Show resources: https://www.wrpwealth.com/
Hilla Ovil-Brenner is managing director of the Techstars Tel Aviv Accelerator. Having led her first company, White Smoke, to a successful IPO, for the past 20 years, Hilla has grown into a serial entrepreneur, investor, and mentor in the high-tech industry, specializing in early-stage startup development and growth. She has been named a 'Top 100 Influential People in the Israeli Hi-Tech Ecosystem' by Israeli technology site, Geektime. Additionally, Hilla is the founder of Yaazamiyot, the largest female founders group in Israel, with over 4000 founders located throughout the country and dozens of global projects in the works.
In our latest podcast episode Ivan Asensio from Silicon Valley Bank discusses two recent papers, which he co-authored looking at the impact of FX on firms looking to raise equity and those preparing for an IPO. The results of both, he argues, help to make the case that FX should be viewed as a strategic rather than operational concern within organisations.Asensio also talks about how the marketplace has shifted to “a new paradigm” where controlling costs has replaced growth as the primary focus, and claims that this makes effective FX management more important than ever.
Check out our sponsor Crypto Craft: https://www.cryptocraft.com/?utm_camp... This week, Zack Resnick of #UnboundedCapital was interviewed on the #CGWeeklyLivesteam, by our host Kurt Wuckert Jr. The duo discussed the investor and trader profiles within the BSV community, later talking about #IPOs, Unbounded Capital's current and future ventures, and the growth rate of #BSV. Don't miss the opportunity to meet Resnick and the team at the #GlobalBlockchainConvention in #Dubai on May 24-26.
What's it all about? An affordable solar powered car! And so much more. Laurin Hahn is a founder and entrepreneur with a vision to see solar power on every vehicle, as a way to remove reliance on fossil fuels. It's been an inspiring journey that I have been watching for many years from afar. We also talk about growth, leadership, values and the road from crowdfunding to IPO. And a lot more. I hope you enjoy the episode. About Laurin Hahn: Laurin Hahn is co-founder and Chief Executive Officer of Sono Motors. Driven by the ambition of realizing system change, he decided to stop his studies in Electrical Engineering and to fully dedicate to the development of an efficient, affordable electric vehicle, suitable for everyday use and whose battery can be additionally charged by the sun – the Sion. Based on this project and the vision of a sustainable mobility concept independent of fossil fuels, Sono Motors GmbH was founded in 2016 by Laurin Hahn, Jona Christians, and Navina Pernsteiner. Since 2021, the company has no longer focused solely on the development of the Sion, but has expanded its business field to include the sale and licensing of the company‘s own solar technology. In the same year, Laurin, along with Jona, successfully launched Sono Motors on the US tech exchange Nasdaq under the ticker symbol SEV. In addition to his role at Sono, Laurin Hahn is also a member of the Entrepreneurs for Future. In 2020, Sono Motors and its founders were awarded as number one of the Most Innovative Start-ups in Mobility by Forbes. He has been selected for Business Punk magazine‘s Watchlist 2022. In the same year, Capital selected Sono Motors as one of Germany‘s most innovative companies. Laurin was also nominated by the German Startups Association as Founder of the Year 2022. About Sono Motors Sono Motors (NASDAQ:SEV) is pioneering solar mobility with Sion, the world's first commercially-available solar-electric passenger vehicle (SEV), as well as a portfolio of integrated solar technologies. Backed by a strong global community, Sono Motors has amassed more than 18,000 reservations for the Sion, which will be commercially available in Europe in 2023. Sono's licensed solar technology can be seamlessly integrated into a variety of vehicles — including buses, trucks, trailers, and more — to dramatically extend range, reduce fuel costs, and further reduce total carbon footprint Social links Laurin Hahn on LinkedIn: Laurin Hahn | LinkedIn Sono Motors website: Driven by the Sun | Sono Motors Sono Motors on Twitter: Sono Motors (@SonoMotors) / Twitter Sono Motors on Instagram: Sono Motors (@sono_motors) • Instagram photos and videos Sono Motors on YouTube: Sono Motors - YouTube Sono Motors on Linked In: Sono Motors: Overview | LinkedIn EPISODE LINKS Sono Story on YouTube- (German with subtitles- https://youtu.be/coWTfPv_ZWA Sono Motors Sion | Fully Charged https://youtu.be/U5LKU6bWScc Sapiens A Graphic History, Volume 1: The Birth of Humankind Sapiens A Graphic History, Volume 1: The Birth of Humankind (Sapiens, 1): Amazon.co.uk: Harari, Yuval Noah, Vandermeulen, David, Casanave, Daniel: 9781787332812: Books Reinventing Organizations: A Guide to Creating Organizations Inspired by the Next Stage in Human Consciousness Reinventing Organizations: A Guide to Creating Organizations Inspired by the Next Stage in Human Consciousness: A Guide to Creating Organizations Inspired by the Next Stage of Human Consciousness: Amazon.co.uk: Laloux, Frederic: 9782960133509: Books
Late last year Unilever reached a $5 billion deal to sell part of its tea business, including brands like Lipton and PG Tips, to private equity giant CVC Capital. But the tea sector is a complicated one. With roots in colonialism, tea plantations around the world have faced many issues, including accusations of human rights abuses. In this week's episode, we're hearing from one worker whose life was forever changed by violence on her plantation, and exploring how this deal represents a new challenge for PE as investors are increasing their scrutiny into the private equity industry's ethics. Clips courtesy of Unilever, Al Jazeera, AP- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:How Unilever's tea business became a test of private equity's conscienceBidders for Unilever's tea business pulled out on plantation concernsCVC pushes back IPO plans amid market turmoil- - - - - - - - - - - - - - - - - - - - - - - - - - Sign up here to get the Moral Money premium newsletter sent straight to your inbox every Monday, Wednesday and Friday. On Twitter, follow Judith Evans (@JudithREvans), Kaye Wiggins (@kayewiggins) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com See acast.com/privacy for privacy and opt-out information.
More about PURE Property Management and Joe PolverariPURE Property Management is the fastest growing profitable residential property management and technology companies in the U.S. Led by a team of experienced industry professionals and seasoned technology innovators, PURE acquires residential property management companies and invests in their people and processes. By deploying technology and providing operational efficiencies, PURE creates simple and satisfying experiences for residents and investors, including institutional portfolio managers.Joseph Polverari is co-founder and general partner of Silicon Valley-based PURE Property Management, the fastest growing profitable residential property management and technology company in the U.S. He is a seasoned entrepreneur and fintech pioneer, who led corporate development and strategy at Yodlee, a financial data aggregation and analytics platform, through its IPO in 2014 and subsequent acquisition by Envestnet. Polverari is leveraging his expertise to lead an experienced team of industry insiders looking to transform the traditionally cumbersome and complex process of managing properties. Connect with Joe on LinkedIn Check out PURE Property Management
Merline Saintil is founder at Black Women on Boards, and herself sits on 6 boards of directors. and was on the board of 4 companies that IPO'd in 2021. On this episode, Merline discusses taking a company across the IPO finish line, and thoughtful perspectives from an experienced Black director, and the red flags you'll want your antennas up for should you decide to consider board service. Follow Will Lucas on Instagram at @willlucas Learn more at AfroTech.com https://instagram.com/afro.tech Learn more about your ad-choices at https://www.iheartpodcastnetwork.com See omnystudio.com/listener for privacy information.
Χωρίς σενάριο, χωρίς περιορισμούς ή λογοκρισία και πάντα Απλά και Ανδρικά. Ο Γιώργος Κάββαλος μιλάει για το πως κυνηγάειτο πάθος του και το reselling, για το πως κάποιος στήνει ένα clothing brand και τις δυσκολίες που μπορεί να συναντήσει αλλά και για τις συνεργασίες που έχει κάνει με διάσημους rapper. Μπορείς να ακολουθήσεις τον Γιώργο Κάββαλο στα παρακάτω link: Instagram: https://www.instagram.com/giorgoskavv... YouTube: https://bit.ly/3QOZ544 TikTok: https://www.tiktok.com/@giorgoskavvaloss ________________________ Ο ΧΟΡΗΓΟΣ ΜΑΣ: https://bit.ly/MenOfStyle-Freedom24 Θέλετε να επενδύετε με 0% προμήθειες; Ανοίξτε τον επενδυτικό λογαριασμό σας στη Freedom24 και αποκτήστε εντελώς δωρεάν μια μετοχή. Γιατί να επιλέξετε τη Freedom 24; ⬇️ Επειδή η Freedom24 της Freedom Finance Europe ltd είναι ευρωπαϊκή θυγατρική της Αμερικάνικης εταιρείας Freedom Holding Corp (FRHC) εισηγμένης στον NASDAQ. Είναι αξιόπιστη, διαφανής και ελέγχεται από την CySec, τη Bafin και την SEC. - 0% προμήθεια για μετοχές, ETF, ομόλογα, options και futures (μόνο για τους κατοίκους Ελλάδος) - Πρόσβαση στο Χρηματιστήριο Αθηνών, σε παγκόσμια χρηματιστήρια της ΕΕ, των ΗΠΑ και της Ασίας. - Δυνατότητα αγοράς καινούριων μετοχών στην τιμή IPO. - Αποταμιευτικός λογαριασμός με ετήσιο επιτόκιο 3% (USD) και ημερήσια απόδοση τόκων. - Δωρεάν μετοχή για τους καινούριους πελάτες Θέλετε να αρχίσετε να επενδύετε με τους καλύτερους όρους στην Ευρώπη; Ανοίξτε έναν λογαριασμό μέσω του affiliate link και αποκτήστε μια δωρεάν μια μετοχή (για πελάτες άνω των 25 ετών)* https://bit.ly/MenOfStyle-Freedom24 *Όλες οι επενδύσεις έχουν ρίσκο. Η Εταιρεία διατηρεί το δικαίωμα να προχωράει σε αλλαγές σε όλα τα προϊόντα, τις προμήθειες, τα έξοδα και τις αμοιβές και οι πληροφορίες σχετικά με αυτές τις αλλαγές θα αναρτώνται στον ιστότοπο της Εταιρείας. ________________________ To MoS έχει πλέον δικό του Discord: https://discord.gg/menofstyle Μπες στο link, κάνε Verification, συμπλήρωσε το captcha που ήρθε σε DM πάνω αριστερά και είσαι έτοιμος για τη μεγαλήτερη παρέα αυτοβελτίωσης! ________________________ Κάνε Εγγραφή στο Κανάλι μας: https://bit.ly/men_of_style Απόκτησε πρόσβαση στο Digital Academy: http://bit.ly/menofstyleacademy Κάνε τον Άνδρα Αξίας δικό σου: http://bit.ly/AndrasAxias Μπορείς να μας ακολουθήσεις στα social media για να ξέρεις πάντα τι παίζει: FB : http://bit.ly/MenOfStyleFacebook Instagram : http://bit.ly/MenOStyleInstagram
Articles Reference: SoulCycle CEO Explains 'F*ck it, Let's Ride' Campaignhttps://www.mediapost.com/publications/article/375136/soulcycle-ceo-explains-fck-it-lets-ride-campa.html As SPAC craze fizzles, Lamar punts on $300 million IPO to buy a digital advertising company https://www.theadvocate.com/baton_rouge/news/business/article_3936d6ac-f3e4-11ec-a2ae-3b7d7b62ce28.html Vistar Media Secures $30M Series B Investment from Lamar Advertising Companyhttps://www.businesswire.com/news/home/20210712005451/en/Vistar-Media-Secures-30M-Series-B-Investment-from-Lamar-Advertising-CompanyThe Real Reason America Doesn't Have Enough Truck Drivers https://www.nytimes.com/2022/02/09/business/truck-driver-shortage.htmlSupport the show
Tech entrepreneur Frederic Kerrest tells Sam Clack how he helped to build the multi-billion dollar tech company, Okta, from scratch. He goes through the life and business lessons he's learned along the way – and explains the importance of listening to great advice at every stage of your career. In his new book ‘Zero to IPO', Frederic shares valuable insights from top CEOs that he hopes will help to motivate the next generation of entrepreneurs. Presenter / Producer: Sam Clack Image: Frederic Kerrest; Credit: Okta
In this episode, CII Legal Intern Alvaro Reyes interviews Ryan Wilson, a Professor of Accounting at the University of Iowa. Professor Willson is the co-author of a recent research paper entitled "Not Ready for Primetime: Financial Reporting Quality After SPAC Mergers."
Race Capital invests, builds, and partners with exceptional founders building market-transforming companies. They work side by side with our founders as early as possible, every step of the way. They have successfully built our own companies from small to big, from nothing to IPO, and want to help others do the same.
Paul Johnson, CEO at Power Metal Resources, joins the UK Investor Magazine Podcast for a broad discussion around Paul's feelings on current market conditions and recent developments at Power Metals.Register for the UK Investor Magazine Summer Investor EveningWe start with an overview of the current macro picture and how Paul sees metal prices moving through 2022.Our next focus is the Power Metal spinout strategy and we look at some of the individual companies set for an IPO this year.We explore the most important factors in the decision-making process when selecting which assets would be held in the new entities, and those retained in-house by Power Metal Resources.Given the nature of their strategy, we ask Paul if investors should view Power Metal Resources as an investment company managing a portfolio of assets, or one that's targeting long term production?We finish by asking Paul which one project, and one metal, excites him the most?Paul will be presenting at the UK Investor Magazine Summer Investor Evening 30th June. Register for the UK Investor Magazine Summer Investor Evening See acast.com/privacy for privacy and opt-out information.
In the spring of 2020, the idea that the world would see persistent inflation was laughed at. No one is laughing now. Vincent Deluard, head of global macro at StoneX, is one of the few macro analysts who foresaw this inflationary spiral to its full extent. He returns to Forward Guidance to explain how in the next leg of this inflationary saga, corporate profits will plummet as unemployment remains low and inflation fails to return to normal levels. Deluard shares several trade ideas and argues that the bear market has only just begun. -- Follow Vincent Deluard on Twitter https://twitter.com/VincentDeluard Follow Jack on Twitter https://twitter.com/JackFarley96 Follow Blockworks on Twitter https://twitter.com/Blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Bit.com is a full-suite cryptocurrency exchange launched by Matrixport, an integrated financial services firm headquartered in Singapore. Since August 2020, Bit.com has been online supporting the spot, perpetual, futures, fixed income and options products, with a particular highlight being pioneers to launch BCH options. Bit.com is the second-largest in the BTC and ETH options market. Call to action: For any further enquiry, please contact firstname.lastname@example.org. Sign up URL: https://bit.ly/3KlgLR3 App download URL: https://bit.ly/3xer6uI -- (00:00) Introduction (04:41) Reflecting On Inflation Projections (19:35) The Reverse Wealth Effect (24:05) Attributing Inflation As The Cause of Asset Prices Deflating (29:20) Looking at Economic Trends (35:02) Bit.com Ad (35:32) Companies Investors Should Take Caution (40:10) Financing Equity via IPOs and Specs (42:50) Disruptions Caused By Millennial Lifestyle Companies (46:50) Zombie Companies (48:45) The Big Tech Companies (53:17) Outlook on Inflation Over the Next Year (59:00) Yields and the Eurocurve (1:05:40) The Financial System Driving Behaviors (1:09:00) Inflation In Other Countries (1:14:20) The Five Inflation Trades (1:20:30) Japan And the BOJ (1:24:23) Vincent's Psychological Advice for the Market (1:30:04) The Grasshopper Analogy -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
Trzeci muszkieter Inovo Venture Partners zawitał do audycji Zaprojektuj Swoje Życie. Macie Małysz zrobił w ramach Inovo już 40 inwestycji. W dzisiejszym odcinku nasz gość demistyfikuje fundusze VC, opowiada o największych wyzwaniach branży i dzieli się osobistymi doświadczeniami z pracy ze startupami.Posłuchaj rozmów z Partnerami Inovo:
Investment banks like HSBC and Citigroup are beefing up teams in the Middle East to rake in juicy IPO and M&A fees. In this Viewsroom podcast, Breakingviews columnists discuss why early investment is paying off. Also, the People's Republic's jobs crisis is likely to worsen. Learn more about your ad choices. Visit megaphone.fm/adchoices
Sign Up & Play: https://codes.jockmkt.com/?utm_campaign=POWER Web version: https://beta.app.jockmkt.com/ Join Rick Gehman and Joe Idone as they analyze the Jock MKT for the Travelers Championship. The IPO phase will close during the Live Show, so have your bids ready! Use code "POWER" for a deposit bonus. _______________ My Twitter: https://twitter.com/RickRunGood My Instagram: https://www.instagram.com/rickgehman/ Merch: http://www.RunGoodStore.com Newsletter: https://rickrungood.com/newsletter Background Prints: https://bit.ly/3F5beuH Visit RickRunGood.com/Bets for best offers in your state for Caesars, BetMGM, and BetRivers Sportsbooks. Resources Determine Your 6/6 Number: https://cutsweats.com/ Most Profitable Way To Bet Golf: https://youtu.be/_pGNx1N1AGc Mistakes to Avoid: https://youtu.be/RDIktHmfkt4 Golf Stats: http://www.rickrungood.com/ _______________ All RickRunGood Versions: Video: http://bit.ly/2LJTT0P Audio: http://bit.ly/3GyOsfi iTunes: https://apple.co/2LDxLVy Spotify: https://spoti.fi/2YF3rm4 Stitcher: http://bit.ly/2LDxNwE Castbox: http://bit.ly/2LPq5j8 TuneIn: http://bit.ly/2YxRDCh Radio Public: http://bit.ly/31dtU86 iHeart Radio: https://ihr.fm/2LJT0W2 First Cut Podcast: https://plnk.to/TheFirstCut #TravelersChampionship #TPCRiverHighlands #JockMKT #PGATOUR #FantasyGolf #PGA #OneAndDone #RickRunGood #DraftKings #Golf Gambling problem? Call 1-800-GAMBLER (NJ/PA/IL), 1-800-9-WITH-IT (IN only), 1-800-BETS-OFF (IA only), 1-800-522-4700 (CO Only), TN REDLINE: 800-889-9789 or 1-888-532-3500 (VA only). Learn more about your ad choices. Visit podcastchoices.com/adchoices
Toast has 48K+ restaurant clients as of the fall of 2021 when they filed for their IPO. This is a huge number, but only represents about 5% of the total restaurant segment. In this week's edition of the Merchant Sales Insight, I worked with one of my favorite, truly processor agnostic POS systems, Quantic to provide a road map of what you need to offer in order to compete with Toast and win in the restaurant space.
You could argue that the church in the Book of Acts did more for the growth of Christianity than all the generations that have followed put together. How did they do it? Ron calls it the early church IPO, the initial public outpouring of the Holy Spirit. And it is through the power of the Holy Spirit that the first Christians were able to persevere through hardship and persecution to launch the church Jesus promised He would build. Stay with us now as Ron takes us to the Book of Acts in his continuing series, “Route 66: The Ultimate Road Trip Through The Bible.” --- Support this podcast: https://anchor.fm/something-good-radio/support
Welcome to the first episode of CHANNEL MINE NEWS, the new go-to Mining market update with the guru's from Chieftain Securities and Precision Funds Management. Andy Clayton and Tim Weir joined Life Of Mine to go through everything that's been happening in the Stock Market on both a Macro and a Micro level. You'll hear about: - Global inflation + Interest Rate rises (rocky road ahead) - Rising cost pressures across the Mining industry - Dacian putting Mt Morgans on hold (and who else is looking a bit iffy?) - Goldman with some wild predictions about Lithium and Copper's future outlook - Positive company news met with negative share price movement - IPO's and capital raisings drying up and possibly going to shit - Firefinch Demerger and Leo Lithium IPO and plenty more Thank you as always to our great sponsors at Entech Mining. If you want to know more about the leader in Mine Consultancy, check them out at http://entechmining.com.au/ Also check out both: Chieftain Securities https://chiefsec.com.au/ Precision Funds Management https://www.precisionfm.com.au/ Give them all a follow on Linkedin via the links below Entech - https://www.linkedin.com/company/entech-pty-ltd/ Chieftain Securities - https://www.linkedin.com/company/chieftain-securities-pty-ltd/ Precision Funds Management - https://www.linkedin.com/company/precisionfm/
Eirik is the CEO of the Cambi Group. Cambi is on a mission to turn sludge into resources; we'll explore how they do that in just a minute. If you're a regular listener of this podcast, you've for sure already heard that there's no "waste" in "wastewater." We've explained how the world's sewage might be the equivalent of 320 nuclear power reactors, and we've regularly touched on how that wastewater is probably one of the best sources of water we have at hand in the new realm of water scarcity. Now, in the dirty world of wastewater, there's an even dirtier side to be found on the sludge line. Imagine that's the waste's waste; how good or useful can it be? Well, first, that's also an amazing bioresource that you can turn into biogas but also biosolids that can be valorized. And that's where Cambi's magic happens: with their thermal hydrolysis process, they can increase the biogas production by up to 50% while halving the volume of those biosolids - which means twice fewer trucks to deal with it. I'll let Eirik explain to us in simple terms how - to quote him - his giant pressure cooker delivers that amazing result, and we'll get to discuss a bit deeper the business model and the strategy of a company that went through its IPO in 2021. Right before we start, let me remind you that if you like what you hear, you can help me up incredibly by sharing that content around you. Tell your friends, colleagues, or LinkedIn network what you found inspiring in what Eirik explains today, and if you don't like what you hear, please reach out to me, and tell me what I should be doing differently or better. Come on, do it, and I'll meet you on the other side!
今日聚焦【个人养老金或可通过券商购买金融产品】6月21日消息，券商未来有望代销个人养老金金融产品。据悉，多家头部券商或被确定为首批试点机构之一。若进展顺利，则意味着个人养老金可以通过券商系统买卖理财、基金等金融产品。据悉，目前已有多家券商写了试点方案。根据规定，个人养老金每人每年的上限是1.2万元。（券中社）【河南两县城买房小麦大蒜能抵首付】6月20日，两份“另类”销售海报在网络流传，一份出自河南商丘市民权县的洋房，活动内容为“2元/斤，小麦换房”，最高可抵16万房款；另一份来自河南开封市杞县的建业城，“5元/斤，大蒜换房。”据了解，上述收购价均高于当地市场价。2021年以来，建业集团深陷债务危机。6月1日，建业地产公告称，控股股东拟出售约29%公司股份予河南国企。花样促销背后，透露着县城楼市急切去化的努力。企业动态【特斯拉回应要求车主退回1.4万元国家补贴】近日，部分特斯拉用户收到了来自特斯拉要求补交款项的通知函，原因是车辆未在规定时间内达到国补政策要求的行驶里程，需退回国家补贴。特斯拉客户服务热线表示确有此事。客服表示，该补交款项的要求仅针对非私车辆，即注册于公司名下的车辆。也就是说，一般消费者无需担心此事。（澎湃）【消息称腾讯正式成立“XR”部门，押注元宇宙】据报道，三位知情人士称，腾讯控股周一向其员工宣布正式成立“扩展现实”（XR）部门，正式将赌注押在虚拟世界的元宇宙概念上。消息人士称，该部门的任务是为腾讯建立包括软件和硬件在内的扩展现实业务，并将成为该公司互动娱乐事业群（IEG）的一部分。【欣旺达回应汽车电池业务分拆传闻】6月21日，有消息称，汽车电池黑马企业欣旺达最近有了大动作。欣旺达启动汽车电池业务分拆计划上市计划，电池公司新一轮估值200亿元，旗下子公司欣旺达电动汽车电池公司将作为独立公司主体上市，预计2023-2024年提交IPO。对此， 欣旺达证券部相关人士表示，“我们目前没有接到任何消息，以公告为准。”（科创板日报）【华晨中国拟无偿转让华晨动力49%的股本权益】6月21日，华晨中国公告，根据重整计划，建议为促成华晨重整，该公司将无偿向华晨转让股本权益(该公司于沈阳华晨动力持有的49%股本权益)。由于重整计划仍有待华晨债权人于将于2022年6月30日召开的债权人会议上批准，且有待沈阳中级人民法院批准，故可能出售事项仅于华晨债权人及沈阳中级人民法院批准重整计划后，方会作实。【大量用户收到饿了么免单】6月21日，大量网友反映收到饿了么免单通知，免单数额从十几元到上百元不等，订单金额被直接退回到平台钱包，可再次下单使用。部分网友猜测是操作失误才收到了官方免单的通知；也有网友猜测这是平台活动，符合某些条件的消费者获得免单。截至目前，饿了么尚未作出回应。【学习通：未发现明确的用户信息泄露证据】6月21日，学习通发布关于“疑似学习通用户数据泄露”传闻的声明：经十余个小时的技术排查，未发现明确的用户信息泄露证据。已向公安机关报案，公安机关已介入调查。【B站上线付费视频功能。10集售价30元】最近，B站首次上线了付费视频功能。加速商业化进程是B站今年重要目标之一，不过付费视频助力几何还有待观望。这个功能首次出现在UP主“勾手老大爷邓肯”的“世界十大未解之谜”系列视频，一共十集，售价30元。付费视频推出后，不少网友在其评论区表示售价偏高。对此UP主回应称，这次是一个全新的尝试，包了电影院拍实景，还有灯光摄像团队，投资挺大。产业纵深【全国122家村镇银行被列为高风险】随着河南村镇银行“取款难”事件发酵，村镇银行备受关注。据银保监会数据，截至2021年末，全国村镇银行数量为1651家，占全国银行业金融机构总数的36%左右。村镇银行受限于线下网点少、资金来源渠道单一、综合实力弱等原因，面临较大的揽储压力，于是，花式揽储频现。而与此同时，少数村镇银行风险水平快速上升，相关问题较为突出。据央行统计，截至2021年第二季度，共有122家村镇银行为高风险机构。【深圳国资50亿成立半导体公司，75岁日本半导体大咖加盟】近日，昇维旭公司宣布，昇维旭任命坂本幸雄为首席战略官。昇维旭CEO刘晓强表示：“ 坂本先生是日本半导体产业的领袖，他的加入将增强昇维旭在新存储技术的研发、晶圆厂建设与运营等方面的实力”天眼查显示，深圳市昇维旭技术有限公司成立于2022年3月注册资本50亿元，由深圳国资委100%间接控股。昇维旭的成立、坂本幸雄的加入，都预示着深圳将要在培育和壮大半导体产业上下狠劲儿。国际视野 【日媒：全球股市总市值今年蒸发约25万亿美元】6月21日，日媒报道，以47个主要国家为对象的MSCI所有国家世界指数跌至702.8点。相比创出近期最高点的1月4日下跌20.7％，已进入熊市。这是自新冠疫情蔓延初期2020年4月以来再次进入熊市。根据QUICK FactSet的数据进行计算，全球总市值进入今年后蒸发了约25万亿美元。（界面）【特斯拉将裁10%全职员工，将增加小时工数量】特斯拉CEO马斯克在卡塔尔经济论坛上表示，特斯拉将把全职员工裁员10%，同时增加时薪兼职员工数量，整体员工数量将减少3%-3.5%。据称，两名本月遭裁员的特斯拉内华达电池厂员工周日晚向法院递交诉讼，指控特斯拉未能按《劳工调整和再培训通知法》规定提前60天通知裁员。（新浪科技）
איך אנחנו מחליטים על התוכן שנעסוק בו בפודקאסט? איזה שינויים עשינו בסטארטאפ פור סטארטאפ שלא הצליחו? האם היו דברים שהיה לנו קשה לשתף? ביוני 2018 עלה לאוויר הפרק הראשון שלנו בפודקאסט של סטארטאפ פור סטארטאפ. באותה תקופה, מאנדיי הייתה חברה של 100 עובדים ורוב הידע ששיתפנו היה קשור לתהליכי עבודה ולדברים שקורים לנו כחברה. מאז, מאנדיי הפכה לחברה ציבורית עם מעל ל-1000 עובדים, הקלטנו עוד 164 פרקים, וליוזמה נוספו אתר, קהילה, בלוג, וידאו והרבה מאוד אירועים. אז לכבוד 4 שנים להקמה של סטארטאפ פור סטארטאפ, רצינו להקליט פרק מיוחד שבו נעצור רגע ונסתכל על המסע שעברנו עם היוזמה, שבהרבה מובנים משקף גם את המסע שעברנו כחברה. בפרק השבוע ליאור מדברת עם רועי וערן על מה השתנה לאורך הזמן, מתי הבנו שאנחנו יכולים לדבר גם על דברים ׳רכים׳ יותר ואיך צברנו ביטחון בכלל לשתף במה שלמדנו. בנוסף, הם עונים על שאלות שהגיעו אלינו מקהילת הפייסבוק שלנו, וחוזרים לרגעים משמעותיים מפרקים קודמים בפודקאסט. --- פרקים שהוזכרו בשיחה: פרק 0: למה אנחנו עושים את זה פרק 67: על יציבות, משמעות ושייכות בתקופה של אי וודאות פרק 122: IPO 01 - מה כדאי לדעת על תהליך ההנפקה? --- מוזמנים להצטרף אל קבוצת הפייסבוק שלנו ולהמשיך את השיח - www.facebook.com/groups/startupforstartup/ ניתן למצוא את כל הפרקים ותכנים נוספים באתר שלנו - https://www.startupforstartup.com/ See omnystudio.com/listener for privacy information.
Terry Jones is a Digital Disruptor, an author and a venture capitalist. He has founded five startups, with two billion dollar IPOs, Kayak and Travelocity, and has served on nineteen corporate boards in high tech, internet, cyber-security, travel, artificial intelligence and mobile communication sectors. His career path has established him as a thought leader on innovation, disruption, digital relationships and entrepreneurism in our increasingly digital world. As a speaker, author, venture capitalist and board member Terry has been helping companies use the tools and techniques he's developed to keep up with this rapidly changing world. The breadth of his business experience allows him to share unique innovation insights with audiences. His programs on innovation, disruption, marketing and AI are always thought provoking, entertaining and customized. Attendees walk away with inspired ideas and concrete action items to implement in their companies.In his 15 year speaking career, he has inspired over five hundred audiences in more than thirty countries. Terry is a frequent contributor on Bloomberg, CNN, FOX, CNBC and other news outlets.Www.TBJones.com
Χωρίς σενάριο, χωρίς περιορισμούς ή λογοκρισία και πάντα Απλά και Ανδρικά. Ο Πάνος Μουρουδέλης μας εξηγεί τι είναι και πως λειτουργεί το Forex Trading, και συζητάμε για το πως κάποιος μπορεί να έχει μια σωστή οικονομική εξέλιξη όταν οι αγορές φαίνεται να είναι δύσκολες. Μπορείς να ακολουθήσεις τον Πάνο Μουρουδέλη και Master Minds World στα παρακάτω link: Instagram: https://www.instagram.com/panosmourou/ https://www.instagram.com/mmw_capital/ https://www.instagram.com/mmw_academy/ Facebook: https://www.facebook.com/MasterMindsW... TikTok: https://www.tiktok.com/@mmw_capital ________________________ Ο ΧΟΡΗΓΟΣ ΜΑΣ: https://bit.ly/MenOfStyle-Freedom24 Θέλετε να επενδύετε με 0% προμήθειες; Ανοίξτε τον επενδυτικό λογαριασμό σας στη Freedom24 και αποκτήστε εντελώς δωρεάν μια μετοχή. Γιατί να επιλέξετε τη Freedom 24; ⬇️ Επειδή η Freedom24 της Freedom Finance Europe ltd είναι ευρωπαϊκή θυγατρική της Αμερικάνικης εταιρείας Freedom Holding Corp (FRHC) εισηγμένης στον NASDAQ. Είναι αξιόπιστη, διαφανής και ελέγχεται από την CySec, τη Bafin και την SEC. - 0% προμήθεια για μετοχές, ETF, ομόλογα, options και futures (μόνο για τους κατοίκους Ελλάδος) - Πρόσβαση στο Χρηματιστήριο Αθηνών, σε παγκόσμια χρηματιστήρια της ΕΕ, των ΗΠΑ και της Ασίας. - Δυνατότητα αγοράς καινούριων μετοχών στην τιμή IPO. - Αποταμιευτικός λογαριασμός με ετήσιο επιτόκιο 3% (USD) και ημερήσια απόδοση τόκων. - Δωρεάν μετοχή για τους καινούριους πελάτες Θέλετε να αρχίσετε να επενδύετε με τους καλύτερους όρους στην Ευρώπη; Ανοίξτε έναν λογαριασμό μέσω του affiliate link και αποκτήστε μια δωρεάν μια μετοχή (για πελάτες άνω των 25 ετών)* https://bit.ly/MenOfStyle-Freedom24 *Όλες οι επενδύσεις έχουν ρίσκο. Η Εταιρεία διατηρεί το δικαίωμα να προχωράει σε αλλαγές σε όλα τα προϊόντα, τις προμήθειες, τα έξοδα και τις αμοιβές και οι πληροφορίες σχετικά με αυτές τις αλλαγές θα αναρτώνται στον ιστότοπο της Εταιρείας. ________________________ To MoS έχει πλέον δικό του Discord: https://discord.gg/menofstyle Μπες στο link, κάνε Verification, συμπλήρωσε το captcha που ήρθε σε DM πάνω αριστερά και είσαι έτοιμος για τη μεγαλήτερη παρέα αυτοβελτίωσης! ________________________ Κάνε Εγγραφή στο Κανάλι μας: https://bit.ly/men_of_style Απόκτησε πρόσβαση στο Digital Academy: http://bit.ly/menofstyleacademy Κάνε τον Άνδρα Αξίας δικό σου: http://bit.ly/AndrasAxias Μπορείς να μας ακολουθήσεις στα social media για να ξέρεις πάντα τι παίζει: FB : http://bit.ly/MenOfStyleFacebook Instagram : http://bit.ly/MenOStyleInstagram
In this episode of Molecule to Market, you'll go inside the outsourcing space of the global drug development sector with David Enloe, President and CEO at Societal™ CDMO. Your host, Raman Sehgal, discusses the pharmaceutical and biotechnology supply chain with David, covering: Being at the birth of viral vectors and the-infant gene therapy field in the 90s... but choosing not to be there today. After a career spent all over the world - he shares his pearls of wisdom of what he's learnt from a lifetime of international business. Navigating business confusion and redefining companies from the inside out, while focusing on people and patients. Being a humble, humane, empathetic leader that does not take himself too seriously... and makes decisions quickly. Uncertainty around the capital markets and what this means to the CDMO space in terms of potential headwinds. David has over two decades of executive leadership experience in biotechnology, clinical drug development, and GMP manufacturing.He was CEO at Ajinomoto Bio-Pharma Services, CEO at Althea CMO and also served as head of Lonza's Viral Therapeutics Business Unit, which resulted from Lonza's acquisition of Vivante GMP Solutions. Prior to that, he spent 14 years with a biotech company, Introgen Therapeutics, and played an integral part in taking the company through a successful IPO in 2020. Please subscribe, tell your industry colleagues and join us in celebrating and promoting the value and importance of the global life science outsourcing space. We'd also appreciate a positive rating! Molecule to Market is sponsored and funded by ramarketing. An international content, design and digital agency that helps companies in life sciences, get noticed.
Welcome back! Today we are joined by Hendra Tambunan. Coming as a foreign student to the US Hendra earned his degree from San Francisco state university. After graduation, Hendra worked in pre-IPO start-ups. Fortunately 50 and big for corporations while starting to invest in single-family houses. After investing in single-family on the side to save for his son's college fund, he realized that it's just not scalable fast enough. It prompted him to start looking into multi-family by late 2018 and finally decided to jump into the multifamily investing world by mid-2009. To date, Hendra has been involved in multiple multi-family projects with more than 1500 units as both general and limited partners. Additionally, Hendra is also involved in commercial-grade short-term rental projects, Hendra along with his wife, mercy also lead the San Francisco chapter of multifamily and the networking group of like-minded multi-family investors besides investing in multi-family as a family, They love to connect and help others who are trying to get into the multifamily investing space. [00:00 - 07:46] Opening Segment Hendra is from San Francisco and earned his degree from San Francisco State University. After graduation, Hendra worked in pre-IPO start-ups. Hendra and his wife Mercy lead the San Francisco chapter of multifamily and more the networking group of like-minded multi-family investors. He shares about his first Dallas deal and working with people he met at Jake and Gino's Community. [07:48 - 16:06] Real Estate Guru Shares Tips For Raising Capital Hendra discusses the difficulties of raising capital from friends and family for the first deal, and how he learned to be more attentive in presenting his deals. He talks about a recent deal he completed where he increased the value of the property by almost double. He also discusses how he finds syndications, and how they are usually through networking or through locking up a deal on his own. Quick Ad: Nico Invites you to join Jake's & Gino's Multifamily Mastery 5 in Florida this coming November 2022 If you're joining, Nico Salgado offers early bird pricing for you! All you got to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at email@example.com to get the code that you can use to avail a discount! [16:07 - 23:16] Box Capital Raising Money for Next Generation of Real Estate Hendra's journey in real estate, including how influential people have been to him. He is currently raising money for a REFI and returning some of that capital to investors. Working with his wife Mercy, Hendra shares how they support each other and make the business grow. Hendra has a goal of becoming generational wealthy in real estate. “Idea Box capital” is a name that he coined to describe ideas that come out of the box frequently. [23:17 – 26:09] Closing Segment. Find out more and connect with Hendra through his: Facebook visit their website at www.ideaboxcapital.com or email call him at (510) 270-2920 Resources Mentioned: Rich Dad Poor Dad Now Discover Your Strengths LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode. I believe that you only need a small axe to build a lasting empire. Let's start building yours! To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me. Tweetable Quotes: “Be authentic, You are there not because you want to get in yields, but you are there just because you want to help them and see what's available out there. And that's the thing that speaks the truth. Your intention is you want to help them.” - Hendra Tambunan
In the early days of Okta, co-founder Frederic Kerrest was courting a 3,000-person company in Louisiana, which was considering Okta and one other vendor. When he learned who he was up against, he said, “We love competing with them ‘cause we beat them every time.” That arrogant boast lost him the deal, and taught him a humbling lesson: Your confidence is not superior to your customer's needs.In this episode, Frederic and Joubin discuss literally walking down memory lane in San Francisco, who his new book “Zero to IPO” is for, the value of time, the happiest nations on Earth, why Frederic prioritizes writing personal thank-you notes, why it's better to be lucky than good, pivoting to an upmarket strategy, the letdown of being at the top, the problem with “product-led growth” in enterprise, “sharpening the contradictions,” and staying present.In this episode, we cover: Why Frederic wrote “Zero to IPO,” and why he leads it with a story about failure (08:23) Entrepreneurship is a pie-eating contest (13:07) Frederic's direct communication style and the dichotomy between time and money (15:19) His passion for hockey, and why he used to park his car around the corner (24:35) Getting thrown out of two Okta board meetings in a row (29:03) Surviving awful quarters and service outages (36:10) How Frederic's arrogance lost him a huge early deal (42:20) Would he build a company from scratch all over again? (45:39) Why Frederic doesn't take phone calls on the weekends and the “oxygen mask rule” (54:06) “Nothing happens until somebody sells something” (57:20) Is Frederic personally affected by Okta's stock price? (01:02:09) The key players who receive a “ball bearing award” at Okta (01:07:22) How taking on additional projects and working with a professional coach has extended Frederic's time at Okta (01:11:48) Links: Connect with Frederic Twitter LinkedIn Connect with Joubin Twitter LinkedIn Email: firstname.lastname@example.org Learn more about Kleiner Perkins
The annual celebration of World Music Day on 21st June is upon us and Do You Really Know? is aiming to strike a chord with listeners. We'll be harping on about music all week long, covering related terms, concepts and famous figures. What is K-Pop? On October 15th, Big Hit Entertainment debuted on the Korean stock exchange. If you're not familiar with the company itself, you're more likely to have heard of BTS, one of the bands they created. In barely 24 hours, the success of the IPO had exceeded all expectations. A single day of trading was enough to bring the value of Big Hit Entertainment up from $4.5bn to nearly $7.4bn. Also known as the Bangtan Boys, BTS are the most famous boy band from South Korea, and a global music phenomenon. Particularly popular among teenagers, the group's last single “Dynamite” reached 350 million views on Youtube in under a month. So what's the magic K-pop formula? It sounds like a neatly packaged commercial product! In under 3 minutes, we answer your questions! To listen to the last episodes, you can click here : What is the thyroid? What is asthma? What is ecological debt? A podcast written and realised by Joseph Chance. In partnership with upday UK. Learn more about your ad choices. Visit megaphone.fm/adchoices
Jay Patel, VP Business Development, GM imi Mobile (Cisco acquisition) - the state and future of Communications Platform as a Service and Customer Experience; running a startup to being part of Cisco post-acquisition Jay Patel is the VP & GM of Cisco's Webex CPaaS initiative and joined Cisco when the company he ran was acquired for $730m in 2021. He helped start IMImobile PLC and as CEO led it to a successful IPO in 2014 and then to its exit to Cisco. Today he is working on combining the IMI platforms with relevant technologies from Webex to create solutions that help our clients deliver the world's best customer experiences. We sat down at Cisco Live and explored the Communications Platforms as a Service landscape. I learn more about how cloud-based messaging APIs help Customers use the technology to interact with clients over voice, SMS, email, WhatsApp, Facebook Messenger, Twitter, Apple Business Chat, WeChat and Google RCS. Jay also shares a few tips for founders listening to our conversation and what excites him about the future.
This episode is a compilation of answers to YOUR questions that were asked directly from my listeners who attend my weekly business education YouTube live webcast. Topics covered include: How to make money in a Bear Market, What is going on in the crypto market, Are pre-IPO's still worth it and more. Refer to chapter marks for a complete list of topics covered and to jump to a specific section. Download my free "Networking eBook": www.harouneducation.comAttend my weekly YouTube Live every Thursday's 8am-11am PT. Subscribe to my YouTube Channel to receive notifications. Learn more about my MBA Degree ProgramConnect with me: YouTube: ChrisHarounVenturesCompleteBusinessEducationInstagram @chrisharounLinkedIn: Chris HarounTwitter: @chris_harounFacebook: Haroun Education Ventures TikTok: @chrisharoun
Sign Up & Play: https://codes.jockmkt.com/?utm_campaign=POWER Web version: https://beta.app.jockmkt.com/ Join Rick Gehman and Joe Idone as they analyze the Jock MKT for the U.S. Open. The IPO phase will close during the Live Show, so have your bids ready! Use code "POWER" for a deposit bonus. _______________ My Twitter: https://twitter.com/RickRunGood My Instagram: https://www.instagram.com/rickgehman/ Merch: http://www.RunGoodStore.com Newsletter: https://rickrungood.com/newsletter Background Prints: https://bit.ly/3F5beuH Visit RickRunGood.com/Bets for best offers in your state for Caesars, BetMGM, and BetRivers Sportsbooks. Resources Determine Your 6/6 Number: https://cutsweats.com/ Most Profitable Way To Bet Golf: https://youtu.be/_pGNx1N1AGc Mistakes to Avoid: https://youtu.be/RDIktHmfkt4 Golf Stats: http://www.rickrungood.com/ _______________ All RickRunGood Versions: Video: http://bit.ly/2LJTT0P Audio: http://bit.ly/3GyOsfi iTunes: https://apple.co/2LDxLVy Spotify: https://spoti.fi/2YF3rm4 Stitcher: http://bit.ly/2LDxNwE Castbox: http://bit.ly/2LPq5j8 TuneIn: http://bit.ly/2YxRDCh Radio Public: http://bit.ly/31dtU86 iHeart Radio: https://ihr.fm/2LJT0W2 First Cut Podcast: https://plnk.to/TheFirstCut #USOpen #TheCountryClub #JockMKT #PGATOUR #FantasyGolf #PGA #OneAndDone #RickRunGood #DraftKings #Golf Gambling problem? Call 1-800-GAMBLER (NJ/PA/IL), 1-800-9-WITH-IT (IN only), 1-800-BETS-OFF (IA only), 1-800-522-4700 (CO Only), TN REDLINE: 800-889-9789 or 1-888-532-3500 (VA only). Learn more about your ad choices. Visit podcastchoices.com/adchoices
In this episode, Kevin Baker, VP of Team and Customer Success at Maven Recruiting Group, addresses all of your equity and stock options questions. If you've ever received an offer letter from a pre-IPO company and found yourself positively stumped trying to wrap your head around what exactly was being offered, you wouldn't be the first or the last! The purpose of this episode is to help you navigate through the quagmire of legal-ese and esoteric terminology to help you feel better prepared to properly understand and evaluate your offer letter and what questions you should be asking at that stage in an interview process. If you'd like to dive deeper into this topic, be sure to check out Kevin's article on this topic, Executive Assistants Can Earn Equity Too on our website.
当投资人问初创企业，你达到了 product-market fit （PMF）没，投资人到底是在关心什么问题？对不少人来说，PMF 可能都一个非常模糊的概念。关于如何定义 PMF，每个行业和每个周期会不会出现差异，每个投资人和创业者都可以给出不同的解读，然而 PMF 却是衡量初创企业在早期能否取得成功的重要标志。PMF 的老祖宗，传奇投资人和硅谷创业者 Andy Rachleff， 在解释这个概念时强调，创业者和投资人需要思考的最高优先级，应该是市场的需求。在思考一家初创企业的未来时，不能光看增长，还要关注它的价值，即它是否填补市场的真实需求。然而对 PMF 理论知识精专如 Andy Rachleff，在创立智能投顾公司 Wealthfront 的路上也并非一帆风顺。 本集节目是「科技早知道」主播 Howie 与「OnBoard!」的主播 Monica 合作串台的下半部分。在上集探讨本轮科技企业危机之下的 SaaS 生态后，本集的 Howie 和 Monica 从实践出发，围绕着企业如何理解并找到 PMF， 做了信息密度极大的分享。一个 SaaS 行业在初期要实现成功的关键步骤是什么？创业者如何才能听到客户最真实的意见？SaaS 行业的产品与销售逻辑与 ToC 行业有哪些本质区别？什么样的 SaaS 产品才叫解决了客户的痛点？国内的SaaS 行业为什么总需要考虑一揽子服务的能力，而海外的同行却不需要？技术出身的创始人走到 IPO 这一步后，又必须得做哪些高风险的选择？ 本期人物 Howie，硅谷人工智能创投家，「科技早知道」主播，推特账号（@H0wie_Xu），公众号（硅谷云） Monica，经纬创投投资人，公众号：M小姐研习录，播客「OnBoard!」 主理人 主要话题 [01:17] 什么算实现 product-market fit（PMF）？错误的信号有哪些？ [10:15] ToB 厂商可以创造需求吗？客户说的最前面的三件事就是最大的痛点？ [24:27] 怎么识别公司是不是能收到钱？PMF 实现前的销售更多是 problem solver ？ [39:04] 空降高管如何做？不完美的 CEO 如何成长？不应该指望投资人解决大部分的创业中问题？ [48:23] IPO 前后为什么迭代团队？冒险也是实现自我突破的一部分？ 延伸阅读 - 串台播客：OnBoard! 的小宇宙链接 (https://www.xiaoyuzhoufm.com/podcast/61cbaac48bb4cd867fcabe22?s=eyJ1IjogIjYwYjVhNzYxZTBmNWU3MjNiYjU4ZmNlYSJ9) - Howie 在最后推荐的书籍：High Output Management by Andrew S. Grove (https://www.goodreads.com/book/show/324750.High_Output_Management) - 更多关于 Howie 如何解读 PMF 的信息：Twitter账号：@H0wie_Xu (https://twitter.com/h0wie_xu) - 更多关于 Howie 在自己公众号上所分享的 SaaS 商业模式：独角兽泡沫分析及未来走向（第一集） (https://mp.weixin.qq.com/s/KoI8RjCI631e1hF_AoCofg) - Howie 在 2019 年所分享的 SaaS 商业模式：Howie Xu, Zscaler | CUBEconversation, May 2019 (https://www.youtube.com/watch?v=DpuVNuHlRfc&t=933s) - Monica 在 2017年对 PMF 的分享：一场关于融资的激辩，竟无意解锁了创投圈的核心命门（上） (https://mp.weixin.qq.com/s?__biz=MzUzNTEyNjc0OA==&mid=2247483715&idx=1&sn=273556c615cbdd1d40a50f003ca37b36&chksm=fa8b76f0cdfcffe64120620126dc5a918b340ad097d4ebc1108b33ee185b373921d6bfc57639&scene=126&&sessionid=1654937551#rd) - Andy Rachleff 在 2012 年关于企业如何获得成功的分享：Andy Rachleff: What Do Entrepreneurs Need to Succeed? (https://www.youtube.com/watch?v=7G9Cb6sCjL8) - A16Z 的 Marc Andreessen 关于 PMF 的解读：On product/market fit for startups (https://pmarchive.com/guide_to_startups_part4.html) - Zoom 创始人 Eric Yuan 在 2022 年与 Greylock 的 Sarah 对谈视频：Zoom CEO Eric Yuan on the Full Screen Ahead (https://www.youtube.com/watch?v=W1UzOCID7SY) - 关于 Frank Slootman 的创业故事：SNOWFLAKE APPOINTS FRANK SLOOTMAN AS CHAIRMAN AND CEO (https://www.snowflake.com/news/snowflake-appoints-frank-slootman-as-chairman-and-ceo/) - 「Techcrunch」关于 Greylock 投资 Docker 的新闻：Docker Raises $15M For Its Open-Source Platform That Helps Developers Build Apps In The Cloud (https://techcrunch.com/2014/01/21/docker-raises-15m-for-popular-open-source-platform-designed-for-developers-to-build-apps-in-the-cloud/) 使用音乐 Deliverance-Epidemic Sound That Rabbit Again!-David Celeste 幕后制作 监制：刘灿 后期：Luke 运营：Yao 封面设计：饭团 声动活泼年度新节目「跳进兔子洞」上线啦！ 这档「声音特稿」节目将带你去探索那些被商业科技浪潮淹没的个体故事，期待你的关注和订阅！点击这里 (https://sourl.cn/BMFMVk)了解更多本期节目信息。 #声动游乐场实习生计划第二期# 在公号「声动活泼」后台回复 实习 可查看更多详情。 五类岗位：节目监制、声动早咖啡、声音后期制作、媒体运营、商业发展 实习亮点：更丰富的实习模块，更成熟的培养计划，更多的留任机会。 投递方式（3 选 1 ）： 方式一：投递简历至邮箱 email@example.com，邮件名称注明「姓名+岗位+声动游乐场实习生计划」 方式二：点击链接 (https://wenjuan.feishu.cn/m?t=suoqoSKeHUxi-sq0t) 直接投递 方式三：扫描下方二维码一键投递 internwanted https://files.fireside.fm/file/fireside-uploads/images/4/4931937e-0184-4c61-a658-6b03c254754d/k3ddTvSE.png 关于节目 原「硅谷早知道」，全新改版后为「What's Next｜科技早知道」。放眼全球，聚焦科技发展，关注商业格局变化。 关于我们 声动活泼的宗旨是「用声音碰撞世界」，致力于为人们提供源源不断的思考养料。 - 我们还有这些播客：声东击西 (https://etw.fm/episodes)、声动早咖啡 (https://sheng-espresso.fireside.fm/)、反潮流俱乐部 (https://fanchaoliuclub.fireside.fm/)、泡腾 VC (https://popvc.fireside.fm/)、商业WHY酱 (https://msbussinesswhy.fireside.fm/)、跳进兔子洞 (https://therabbithole.fireside.fm) - 欢迎在即刻 (https://okjk.co/Qd43ia)、微博等社交媒体上与我们互动，搜索 声动活泼 即可找到我们 - 期待你给我们写邮件，邮箱地址是：firstname.lastname@example.org - 如果你喜欢我们的节目，欢迎 打赏 (https://afdian.net/@shengfm)支持或把我们的节目推荐给一两位朋友 欢迎加入声动胡同小社区！ 也许你知道「声动活泼」办公室在北京二环内的胡同里，事实上我们也有一个线上的「声动胡同小社区」。成为社区会员，你可以收到一周不少于三次的来自「声动小邮筒」的邮件，同时还可以参加我们各种各样的线上和线下活动，或者是一些有趣的游戏。 点击这里 (https://shengpodcasts.notion.site/a977c74222484894a9fe6245bc0f4dba)即可了解社区氛围。我们期待你加入这个虚拟胡同社区来支持我们，并和我们一起亲近交流，和有趣的人进行「碰撞」，收获新知、友谊并看见更大的世界。 国内用户（年付）：加入声动胡同小社区 (https://sourl.cn/G4B2Wt) 海外用户（月付）：加入声动胡同小社区 (https://sdhp.memberful.com/join) 期待你的加入！ Special Guest: Monica.
Most eyes are on the Federal Reserve in advance of (we assume) another interest rate hike. (0:25) Bill Mann discusses: - What he's watching in the market - Where he's been putting his money to work and which stocks he's been buying - His relative disinterest in IPOs as an event (13:23) Morgan Housel joins Alison Southwick and Robert Brokamp to talk about the speculative boom that caused the Great Depression, and how those lessons apply for investors today. Stocks discussed: BRK.A, BRK.B, MA, GOOG, GOOGL, DPZ Host: Chris Hill Guests: Bill Mann, Alison Southwick, Robert Brokamp, Morgan Housel Producer: Ricky Mulvey Engineers: Dan Boyd, Rick Engdahl
Carl Quintanilla, Jim Cramer and David Faber discussed the markets looking to rebound after another day of massive selling: How investors should navigate the volatility amid inflation and recession fears, as Fed policymakers kick off their key two-day meeting. On the crypto front: Bitcoin slides to a fresh 18-month low and Coinbase announces plans to cut 18% of its workforce. The anchors also highlighted bright spots: Oracle shares surge after quarterly results beat the street -- and FedEx up sharply after hiking its quarterly dividend by 53% and adding new directors to its board. Also in focus: General Motors shares rebound back above their 2010 IPO price, Morgan Stanley's EV take on automakers and Continental Resources founder Harold Hamm offers to take the company private in a buyout.
In this episode of The Tactical Entrepreneur podcast, Steve talks about finding the exit or your exit strategy, merger and acquisition, IPO, selling to a friendly buyer, keeping your business, liquidating, and closing. “If you cannot remove yourself for a period of time, you do not have a business. You made yourself a job.” - Steve Schabacker How To Get Involved: Steve Schabacker is the co-founder of Sheepdog Firearms and an entrepreneur, bestselling author, and marketer. Between his business and his content, Steve is educating firearm owners and armed professionals and setting a new standard for shops and training centers in the industry. You can visit Sheepdog Firearms online or reach out directly to Steve at email@example.com. Check out this podcast on Apple Podcasts - don't forget to subscribe, rate, and review!
EP292- Quarterly Recap Sorry for the delay since our last show. We took a beginning of summer hiatus, and Jason upgraded to a new knee! This episode was recorded in front of a live audience at the NYC Google HQ, for Zenith Basecamp. Key Topics discussed: Amazon's rate of growth declined in Q1, what lies ahead for them. Impact of App Tracking Transparency (ATT) on advertising platforms Shopify vs. Facebook Retail Media Networks Q1 2022 US Department of commerce data and trends Audience questions (including buy now pay later) If you'd like to follow along, the audience could see this deck during the discussion: JAS_ZenithDownload Episode 292 of the Jason & Scot show was recorded on Wednesday June 8, 2022. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:23] Welcome to the Jason and Scot show I'm Jason retailgeek Goldberg. This episode is number 292 being recorded on Wednesday June 8, the beautiful New York City Google headquarters for Zenith base camp and is a special treat we're recording the show in front of a live audience. Scot: [0:45] That was a super important. Jason: [0:49] That Applause is super important because I have no credibility with our audience so they wouldn't believe me if you didn't applaud thank you very much as I mentioned I'm Jason retailgeek Goldberg as always I'm here with my co-host Scot Wingo. Scot: [1:01] Hey Jason and welcome back Jason Scott show listeners. Jason: [1:05] I think I've met most of you but for those of you who I haven't mentioned a met yet thrilled to do so today I as was mentioned earlier I'm the chief Commerce strategy officer for publicist your, almost certainly going to hear from Scott that he thinks might title is super funny and, I'm a fourth-generation retailer back in the Dark Ages I helped launch e-commerce at some funny retailers like, Blockbuster and Best Buy and Target and today I get to work across all the Publicis groupe with all the clients that care about Commerce and I'm super interested to know which clients, don't care about Commerce at this point and so that's me but like I said many of you have met. My annoyingly successful co-host Scott you may not have met so Scott can you tell us a little bit about yourself as they flip the slides. Scot: [1:56] Sure and congrats on that a win at Blockbuster on the digital that was that was good you crush that one yeah. Jason: [2:03] It's super fun every presentation ever done a publicist starts with a big Blockbuster logo and a saying like don't let this happen to you. Scot: [2:11] Isn't there one still open in Alaska if you're gone to visit them. Jason: [2:13] Bend Oregon. Scot: [2:14] Okay then yeah I knew you know that have you talked to them about their digital strategy. Jason: [2:20] It's on the to-do list. Scot: [2:22] I'm a Serial entrepreneur from the Research Triangle Park area and so I started a company I have an engineering background started a company the developer tools. And then this thing called the internet came along and I have a lot of weird Hobbies one of my hobbies we'll talk about a lot of those today is I'm a Star Wars fan so I started I had this I sold my first company, said this dangerous combination of e-commerce has born and I had a lot of liquidity so I started buying really big Star Wars stuff, it stays at my office I have an agreement with my wife that it does not come into the house sadly I probably won't be married if it did so there you go, so that was there at the early days of e-commerce that company I parlayed into a company called challenge visor so started that in 2001 that's a B2B soccer as a service platform for selling on marketplaces are there any channel guys are customers in the house about 3,000 customers and then so Channel visors biggest partners are eBay and Amazon so I've been I'm also he's retailgeek I'm Amazon geek if we have to Brand ourselves maybe a little bitty big geek so I'm in the marketplace side and that's how I met Jason we were on a board together at shot dot-org, remember the first meeting I was there with Jason the CEO of NRF walks in and he's like does anyone have a question Jason raises his hand and says why do we have the worst website on the internet and I was like. [3:38] I need to get to know this guy so he called him out on the terribleness of the in R Us website which was kind of fun and then took Channel advisor public so that was one of my things is an option where I always wanted to do was do an IPO so I got to do that in 2013 that was a lot of fun got to ring the bell I'm a also a CNBC donkeys got to meet and Jim Cramer my wife calls him the guy that yells every night on TV and makes all the loud noises, that was fun and then my current startup let's go to the next slide next two slides yeah it's called spiffy and next slide. [4:12] So spiffy was actually good and go through this animation Jason was supposed to take this on and, so spiffy was actually kind of inspired by the podcast so on our podcast would talk a lot about consumer behavior and for me I'm also an Elon Musk geek and Elon talks about core principles his core principles are physics he's always talking about well if you want to send a ship from here to Mars you're going to have to you can't use let's see welds you have to like mix the atoms together and because of physics we can do we don't do that on Jason Scott show we talk about consumer behaviors so we spent a lot of time talking about the bifurcation in the convenience oriented consumer saw that was swirling around in my head I had my first Uber experience and the this the series of things that lit up for me was alright services are going to go digital we've seen products go digital in the form of e-commerce if you look at GDP consumer services are twice the size of consumer products and then the then as I looked out there there was a lot of companies in this space but none of them were going after the convenience oriented consumer. [5:15] Another hobby of I guess it was a shared one is we like to coin phrases, one of the ones that I coined was Zero friction addiction so when consumers have these low-friction experiences not only are they great. But they amplify the friction of previously previous experiences you didn't think we're friction e Starbucks mobile app for example how many of you use the Starbucks mobile, once you do that and then like the mobile app systems down it's like the worst day of your life because you have to wait in line behind three people and you're like oh my God I'm going to claw my eyes out. And before the mobile app existed you're like three people whoaa short line this is going to be a faster bruxism. So all that was swimming around in my head and I was like I wonder where I could participate in this idea and I was gravitated to car care because I previously invested in a car wash and then I researched and Car Care has a minus 85 net promoter score especially with women, how many of mean if you don't have cars in New York but how many of you have had a bad car experience especially. You're my people so another thing that fascinates me is the Auto industry is going to go through this digital change that we've seen e-commerce go through but it's also the car is changing so I've had a Tesla since 2012 since I've been living that kind of vehicle 2.0 lifestyle so next line so started spiffy in 2014 and today we're in 27 locations about a 50 million run rate doubling, we have 250 Vans across the United States and about 500 technicians so that's a little bit of background on me. Jason: [6:44] That's amazing Scott and so you know Scott mentioned we started this podcast that the joke is he and I met at a board meeting it shop dot org and he and. After the meetings we'd go to a bar and we would just talk shop about what was going on in Scotts Valley. You know we should record this there's like eight other people that would be interested in this conversation and the joke is that like the next day I showed up with like five thousand dollars worth of audio equipment I think. Scot: [7:10] This 90 is forget your mom. Jason: [7:12] That's true yeah. Scot: [7:12] 99.9 listeners. Jason: [7:13] Including my mom who gives me notes on every show hi Mom. So so that's kind of how the show started and you know that one of the topics that's most frequent in fact we often say it wouldn't be a Jason and Scot show without talking about Amazon. And so you know Amazon have their quarterly earnings last month and in the u.s. they're gmv growth rate they sold 6.7% more stuff than they did in q1 of last. Um so that is a alarmingly slow rate of growth by traditional Amazon standards and we click to the next slide. The. This month you've seen all these news articles about Amazon actually having too much warehouse space too much what they call fulfillment center space and how they're literally trying to sublease space to other people that they may have over-invested, as e-commerce starts to slow down and if you cook to the this next slide. [8:15] Actually graft my pandemic Hobbies I learned Tableau by the way if anyone super exciting other people are not a big bread. I'm a geek what can I say so I graphed e-commerce has growth rate versus Amazon's growth rate and historically in the u.s. e-commerce has kind of grown about 10% a year before the pandemic Amazon despite being. 35 to 40% of all e-commerce grows quite a bit faster as you can see the gold line above the blue line but when the pandemic. Um they their paths kind of linked and and you know for these last several months Amazon has grown at about the race. E-commerce and so there's a bunch of analysts that are freaking out. Is the gravy train over the good times done is Amazon selling off and so that's the first topic we want to talk about is what the heck is going on with Amazon Scott. Scot: [9:11] Yeah and it's been interesting another one of my hobbies is Amazon Fulfillment centers this one's riveting and so this started I think it's like 2005 I was driving to work and I saw some construction and you know you're later they put a big amazon logo on it that's like holy cow there's like a million square foot building, this is the Raleigh-Durham area so it's like I wonder how many of these there are so I went on to Amazon's website and they said something like we have around 10 fulfillment centers nice like that, that seems low and then what I discovered at that point time was no one was tracking. From the Wall Street analysts through Amazon fulfillment center roll out so so started working on that and quickly discovered that they had about sixty fulfillment centers built and they were building like another 16 so I started publishing data on this, and fun fact they always use airport codes so this was like RDU 3 soyuz rd1 and these numbers and this kind of thing so I get to know about the Amazon fulfillment center really interesting you know really deeply so I think then one of our most popular popular episodes I think we got till like 12:00 listeners on this one so a 30 percent increase this was February 18th we did episode 287 which is a deep dive into Amazon's fulfillment. [10:19] And to me it's just endlessly fascinating I haven't been to a fulfillment center but I have been able to sneak into some of the delivery stations and that's kind of a fun thing so what ties into this is what I think happened is Amazon was in front of their capacity needs before the pandemic and then the pandemic flip that upside down so I think what's happened is over that time where they're in line with e-commerce they were just out of capacity they literally couldn't ship the couldn't build enough fulfillment centers fast enough and whatnot so during the pandemic they have built an incredible amount of infrastructure so I'd have some data here the other thing you need to know is in 2018 another this was probably the most popular one Jason I coined the phrase ship again is even heard this one. And this is where we. Jason: [11:03] We got on like The Today Show. Scot: [11:05] Be on the Today Show they're like what is this ship again and should we be concerned that was us that was us we cause that and we take all the credit, and what happened is Jason has many of his Tableau slides he had this he has a slide that shows the FedEx capacity USPS and ups and then Amazon's growth and you can see that Amazon alone then you layer in e-commerce was going to we would run out of capacity for shipping well Amazon also saw those so in 2018 they started a program called, the DSP now this is confusing because they have two DS p– programs there's one in your world of ads I don't know what that one is, delivery service professionals is the one I focus on and what Amazon did is he basically took a page out of the FedEx Playbook and they went and they built a network of 1099 contractors to do last mile deliveries so whenever an Amazon Prime van comes to your house that is an Amazon DSP. [11:59] They've built that entire network since 2018 which is pretty crazy okay so the problem with that Network though is they started it out of fulfillment centers and very quickly it was obvious the Fulfillment centers were when you have these million square-foot buildings and you're just putting things through a door or a loading dock you can't reload Vans quickly so what they've done is they've come up with a new format called a delivery station, this is a smaller about a 200 thousand square foot thing and what it is it's largely attached to a fulfillment center and it's pretty wild at eight am the Fulfillment center doors open and these rafts of containers come down and there's these Vans all lined up, staged in line, where they go furthest packages away get loaded in the first Vans and then they're off and then it's like a military operation it's like D-Day it's like crazy to watch this happen hundreds of employees loading these vans that get deployed through the day. [12:49] So just to give you some numbers that started at zero and now they have built 487 delivery stations for small products 108 delivery stations for large so they built about 600 delivery stations in the last 3 years which is pretty crazy that represents so there's so nothing Amazon does each delivery station has four or five dsps and they play them off each other so they're small businesses and then they give them all these scorecards and if you score well you get more routes and trucks so there's like this gamification, and I've met some of these guys and they're just like constantly going at each other and and Amazon is very clever because they're like stuck in this game gamification they don't really realize it that Amazon just playing them off each other the thing that fascinates me is they're all run by this you know data in the cloud so everyone in this operation there's no real managers or anything they're just like all looking at their their their devices and it's telling them what to do every day that's kind of as a computer science guy that kind of fascinating we do have a i overlords that that just kind of run things so there's two 2500 dsps and 100,000 Vans and so they've invested a ton in that and then that's just the delivery stations so they've also added you know 88 sortable fulfillment centers. [14:08] Basically they've invested so much in infrastructure during the pandemic that I think we're going to see these numbers they're they actually have admitted they have too much capacity but I think it's going to give them the ability to re-accelerate versus e-commerce because they now have the capacity in this new world. [14:22] It was a long answer to that one but but you know I think what's key to me is if you buy into this theory that getting product to the consumer fast and efficiently is going to be key, they've gotten the cost to deliver a package and that last mile down to a dollar fifty with this. [14:37] You know so many of you that are shipping products and you're looking at FedEx at eight nine ten twelve dollars in different zones that's kind of the economics they've baked into that now for a long time thought one of the Amazons unusual playbooks is they'll build something really really crazy expensive and you're like this is insane and then they'll open it up which for most people in the old score world you're like, that doesn't make any sense because you used to build these proprietary networks like Walmart's Data Center and computer infrastructure, that was proprietary and gave them an edge Amazon's philosophy is let's open it up that makes the product better and we get third parties to help pay for the. So this is obvious now that the AWS and Amazon third-party Network I believe that there will be a day when I could ship I'm enrolling your in Charlotte I'll be able to ship you a package I'll just put on my front porch the Amazon DSP will pick it up and I'll ship you a package for three bucks right so it'll be half the cost of FedEx or UPS but don't make a hundred percent are 50% gross margin on it, so that's going to be really interesting and they'll be able to offer that they are actually offering a lot of that kind of capability to other Merchants so so that'll be interesting you'll have to face this decision of if you're your Cody or someone like that do you want to switch from FedEx to Amazon shipping your products and so there's a lot of real interesting things going on in the Amazon World those are some of the big ones. Jason: [15:51] Yeah yeah to kind of put that in consumer terms. Before the pandemic Amazon had invested something like 50 billion dollars in their fulfillment centers and so on. It wasn't that long ago I would talk to clients and they're like hey Jason we've got the secret plan to compete with Amazon where we're gonna buy a warehouse in Kentucky because that can ship to the whole us and we're going to compete with Amazon and I'm like. You realize Amazon has 109 million square foot fulfillment centers and 50 billion dollars worth of infrastructure and that was before the pandemic from. Mid 2018 to today they've invested another 50 billion dollars and literally double the size of their capacity so the likelihood of anyone in the u.s. competing with him in terms of. Capacity is next to know and as Scott mentioned in 2018 we had this bad holiday where we didn't deliver everything on time Amazon became you know aware that they weren't going to grow where they want to grow using third-party parcels and I think there's this famous quote from Fred Smith it FedEx like. Amazon's an amazing company but they're our partner they're not a competitor they never understand the competitiveness of the, the parcel business and back then Amazon delivered eight percent of their own packages that was 2018 today Amazon delivers over 60% of their own packages right and so in a very short period of time. [17:16] They they've created this phenomenal capability so the magic question is is this a blip like, is the are they going to start growing faster than e-commerce as soon as we get out of all this crazy economic Madness or like is this going to be the new normal for Amazon that they're you know so big that they can't grow as fast anymore. Scot: [17:35] My prediction is yes they will I think they'll get the capacity they'll turn on these other things another area that I think they'll get into and we've covered this on the show is where we call these things like to go Puffs the road you have a fancy name for. Jason: [17:47] Instant delivery or ultra-fast delivery. Scot: [17:49] Yeah Amazon part of this infrastructure they built out is in that similar vein so some same-day infrastructure where, you know these delivery stations are getting smaller and smaller and closer and closer to the consumer so that they can do same delivery in fact at the delivery station I was at they do 7 a.m. to 10 a.m. load out and then everyone comes back at to and they do another load out of a smaller portion of vans, for same-day delivery orders that have come in so so so I think I think what they're going to do is they're going to Crank It Up, Prime will eventually go to same day and then that's going to create a whole new stimulation of demand and then they will grow faster than e-commerce. Jason: [18:24] I feel like that's another funny one is talk to like there's a bunch of new startups that are like trying to do e-commerce fulfillment and they're like we're going to do two day delivery just as well as Amazon. Scot: [18:34] Yeah this is this is a good segue into Shopify so one of the things that there's defied explanation for me is the rise of Shopify shopify's a great platform great CEO but they got this valuation of like 50 times forward earnings forward Revenue which just never made sense to me and then they started poking the bear so they started to give Amazon and Jeff Bezos so hard time like when his pictures they were like making fun of him and I was like this you and I have seen this. Jason: [19:01] They're arming the rebels. Scot: [19:02] We've seen this play out we're like who was it the CEO of Macy's said Amazon will never get into apparel and if they do it'll be a bloodbath everyone that makes one of those statements they end up a you know ruining their career and then be very being very wrong so. Jason: [19:17] Terry Lundgren. Scot: [19:18] Terry Lundgren yeah thanks he was also in the in that in our f word me the so so so it's really interesting is Shopify has been poking at Amazon and then Shopify announced that they were going to. Arm the rebels with two day shipping and they're going to build a fulfillment center we're like. Okay this doesn't ever end well then in this then like literally 30 days later they announced and they were going to spend a billion dollars and build a fulfillment center are two billion which you know Amazon spend 100 billion so that's kind of a ridiculous and then they were going to get everywhere two day shipping and Beebe in parallel with prime which doesn't make any sense then they punted on that and they acquire deliver. And then at the same time and this is a good segue into our next topic they basically said, and this goes back to March of this year last year we saw that after Apple's WWDC that year last year, they announced IDF a and I-80 T which is next slide. Jason: [20:18] Yeah jump to slides actually one more. Scot: [20:20] So you and I were like this is going to change everything and destroy all these middle players so so basically you guys probably know what this is I'll let Jason describe it better these new privacy things basically you get rid of not only third-party cookies for web-based things but if you have an app based ecosystem you get rid of tracking it all together and we were like freaking out about it no one else was I, and I felt like Shopify was going to be worse because if you think about Shopify the bulk of their traffic comes from social then they sit in the middle and then they have the merchant well these things in the middle aren't going to really exist in a world where you can't track anything and sure enough this is really caught up not only to them but the social media guys. So we're entering this world where Shopify poked the bear Amazon has a bunch of stuff going on that hasn't even come out to counteract Shopify and when that stuff comes out, then I'll know if you've seen it but Shopify is down like 98% or something like that because they've lost you lost a lot of credibility with this fulfillment thing and then the overall economic has been a really interesting impact and then I think everyone realizes that they're really exposed to these IDF a changes. Jason: [21:25] Yeah and so I think most people in this room are probably painfully familiar with idea Fay but essentially. It's become harder to track a consumer across multiple website so all these advertising platforms that aggregate an audience and send them to third-party content sites used to be able to buy a super-efficient audience on that third party site and then they used to be able to measure how effective it was when they sent people to that site and what they ultimately bought and so because of the tracking deficiencies too bad things happen we can't buy as good an audience as we used to buy so the by is less efficient so the CPM is higher and we can't measure how effective it was right and so there's a lot of impacts certainly for all of you folks that are involved in advertising there's there's a very direct impact on those changes but the secondary impacts can I talked a lot about is before these changes it felt like Shopify and Facebook for example where cozying up, like Shopify has a digital wallet called shop pay which is very exciting successful and they actually made it possible to buy items not from Shopify sellers on Facebook. With Sharpay and you're like oh man it's very synergistic Facebook gets the audience and then they send them to Shopify seller to close the deal and it seemed like they had this partnership and we saw IDF a coming and were like oh man this is going to break up because in the New World. [22:47] The Facebook's of the world need to own that conversion they need to own the sale so they can see the conversion data so they can report on the efficacy they need instead of third party data they need first-party data and so now all these advertising platforms most notably Facebook and Google are doubling down on becoming Commerce platforms which you've talked for a long time about Google is secretly Marketplace. Scot: [23:13] Yeah and then I think ultimately Facebook has to buy Shopify or build show, so that'll be interesting now the price is down before when it was like 40 times for door like they'll never do that but I think now but they do seem, it's hard to know what's going to happen to Facebook because they're so focused on the metaverse that I don't know if Shopify fits into that somewhere inside of there you know someone watches Revenue versus like Ford things and and if you care about revenue and Facebook you would buy you would buy, Shopify the other thing that's really interesting another one of my weird habits is I love to listen to public quarterly calls. Probably the worst quarterly call I've ever heard and I have a lot of empathy for this because I've done many of these is this the Snapchat the last the q1 Snapchat call they basically it was like they just rolled in there, half drunk and had no idea what's going on in the business and like the analysts are asking them questions like do you think this is the bottom of i d f a and the last quarterly call they had said that was the bottom. They're like well you know last time we said it was the bottom we think this is a bottom Jason do you know if it's a bottom it was just like that kind of a thing so if you're an investor and you're sitting there like these guys have no idea how bad this is where the bottom is or how to remediate. And you know that that leg down I think that really big one there that was right after that quarterly call everyone there while she was like these guys have no clue what's going on. So it's really interesting. [24:33] Wall Street is very much awake that these changes that apple and then subsequently Google have made and the Android have really just clobbered these ad networks that kind of our sit between AD networks and kind of relying on on third-party data the converse of that so every time there's a there's a zero-sum game here every time there's a loser there's a winner the big winner here is retail networks and I heard that we're going to have talk about their ad Network I'm the Amazon guy so Amazon's ad network doesn't get a lot of play here but just as of last year it was 30 billion dollars in revenue and they're growing that 25%. And I know they have a massive amount of investment going on there they have a new marketing Cloud they're doing a ton of stuff in there because they realize hey thanks Apple and Google the you have created gold dust out of first-party data guess who has the most first-party data on buyer intent and conversion it's Amazon. But then if you're other retailer be at a Walmart or Target and even smaller retailers are getting into this and kind of more of a, I called a Battlestar Galactica kind of way but more of like a shared data kind of a way that's going to be real interesting. [25:41] You are yeah yeah I think you and I are the only ones to get them the, so that's that's really fascinating to watch this one change in mobile platform just cause these billion-dollar ripples down there and you kind of wonder who it Apple did they think about this where they like, you know that Mark Zuckerberg he's too big for his britches let's let's clobber him in the rest of these guys but you know they don't love app Amazon either so they have to be kind of frustrated that it has helped enable one type of competitor but that just clobbered the other ones. Jason: [26:12] Yeah it's I mean it's super fascinating I. The retail the emergence of retail media networks I think you know is a direct cause of this essentially that you know you now have all this first-party data it Walmart and Target and to your point like. Craziest retail media Network to me is Gap in the reason I say that like most retail media Networks primarily sell ads to endemic Advertiser so you know Cody wants to sell through Sephora so for launches retail media Network they have some leverage to get Cody to invest in, in add-on Sephora but Gap doesn't have any endemic advertisers like Gap only sells their own stuff right so they're now you know trying to go find. Advertisers that are synergistic with The Gap lifestyle and sell ad so I don't think that could have ever happened in a world in which you could really cost effectively by that audience from Facebook but today because it's harder for the Facebook's of the world I think this is a. A permanent shift we're seeing and another reason that it's really an imperative for Facebook to become a Commerce platform of Their Own. Scot: [27:20] Yeah this is probably a good time to pause and see if there's any questions yeah so Amazon or IDF a any questions on those two topics any other comments how many of you have felt some kind of an impact from the IDF a thing that's called you to change strategy. Wow I guess we're wrong yeah. Jason: [27:38] We usually are so there's that I feel like a lot of the success of the show is Scott and I rarely agree and I feel like people like to hear us debate right and so the last topic we put together is. Again one that's probably only near and dear to my heart but the, US Department of Commerce publish all this data about the health of the US retail right and I'm this dork that like wakes up at 8 a.m. I'm kidding I'm up at 8 a.m. right now I wasn't supposed to say that out loud, on the on the day the data is released to like load the stuff into Tableau and so may was a super exciting month because that's the first time we get the. Q1 quarterly data for all the retail categories and e-commerce and so I kind of put together a quick. Quick summary and week I just want to hear if you're surprised or not so first thing if sorry if you go back just one side for just a sec. From from January through April in the u.s. we sold 2.2 trillion dollars of stuff that's almost 10% more stuff than we sold in 2020. [28:42] 36% more stuff than we sold in 2019 so everybody talks about how hard the last two years have been and how challenging and difficult and that's all true. What doesn't get hit is it's been the greatest two years in the history of retail like we've grown, way faster than we ever have before and so if you flip to this next slide this is this visualization that's got an icon of created this is sales by month so that Gray Line is retail sales in 2019 and then the Gold Line is 20/20 so you can see oh my gosh we all panicked in April when the pandemic first happened we have this dip but 2020 we actually sold more stuff than we did in 2019 even with the the pandemic. What we sold changed dramatically we'll talk about that, and then we get to 20 21 and look how much higher 2021 was like 20 everyone was like oh my gosh was 2020 a weird year and growth is going to go down and instead, growth went way up and so at the end of 20 21 I was advising all my peers that worked at clients to retire right because your comps are going to be impossible from, from 20:21 so that was a great time to go out on top. And I was really worried that 2022 was going to come in below that and of course we're talking about all these economic headwinds and things that we may talk about but so far in 2022. [29:59] Even ahead of 2021 so you hear all this news about how like. Oh man the rate of growth has slowed we grew so much in 2021 and now we're only growing a little bit and doom and gloom and all these things. But when you see this picture you go wait a minute. With the best year in the history of retail last year and we're doing even better this year it's actually quite a Rosy story but if you flip to the next slide of course there are certain categories that did. Especially well right and so if you are a gas station and you got utterly creamed. During the pandemic and one was driving anywhere it was easy as to grow fast if you are restaurant that no one went to it was easiest to grow fast apparel that. Scot: [30:41] Miscellaneous that's my favorite yeah I wish I sold more miscellaneous. Jason: [30:46] It's the hardest category to buy. Um and so you can see there's categories that kind of outperform the industry average and there's categories that underperformed the industry average food and beverages grocery right so even though grocery had a really good time in the pandemic it's actually underperforming, the overall category because there were some of those other categories that were so much and whenever I talk about this people are like yeah Jason but all the growth you're talking about isn't, consumer changes or more spending its inflation right and so I actually tried this, experiment of taking the inflation out and I looked at the last three years of growth in 2018 dollars and as you can see, information used to not matter very much in the data so through 2020 and then we started opening up this Gap where inflation legitimately has an impact on our sales right now but even if you just look at the Gold Line which is taking all the inflation Outlook. Um the growth is still very meaningful in phenomenal so it's a like Well you certainly inflation is part of the reason that we're seeing a lift in sales it's a mistake to assume. [31:51] People are just buying less stuff and they're just having to pay more for that stuff in that there really isn't a consumer change the really is a consumer change here in so we want double click on a couple categories in the first category I grab because it's super near and dear to Scott's heart is Automotive right so they sold half a trillion bucks last year they're up 50% from the bed you have 20/20 and if you go to the next slide you'll see the. You know they're their shape that obviously the you know the pandemic gave him a temporary dip but again like most categories they we did slightly better in 2020 2021 was a phenomenal year and then it seems like 20:22 is having a little bit of trouble comping against that what's going on in the apparel or the automotive industry. Scot: [32:34] Was a guy that buys like 30 Vans a month you can't buy vehicles yeah so there are no vehicles out there it's pretty crazy I had to buy my daughter a vehicle and we had to wait like six months and then had to pay like over sticker. Against all grains of my being but had to do it yeah the things we do for our kids. Jason: [32:52] Combo of like there's increased demand and there's these supply-chain constraints and there's no chips right. Scot: [32:58] Yeah yeah so it went from chips now they seem to have the chips but then all the zero covid policy in China is made all the other inputs go to hell in a handbasket so-so so there was some Supply that got out because they had all these vehicles waiting for chips the chips have gotten there but now they can't make a lot of the other components of the vehicle as my understanding and we order we ordered 100 Vans and we got three delivered this year from from new which is just crazy. The other problem I'm up against his there's this other company buying a lot of ants called Amazon and they're buying I'm buying I'm buying what it feels like a lot to us 100 and they're buying like you know, twenty thousand so so they seemed to get a higher spot. Jason: [33:36] They're higher in the queue than you yeah so if you take nothing else out of this this segment if you have to sell a car right now do not use Blue Book value your car is way more valuable than Blue Book value. Scot: [33:47] And before you sell your car get a new car so it's kind of like yeah because you may be hoofing it if you don't you may be getting to know the Uber app really well. Jason: [33:55] Yeah and whichever card you get get it clean by get spiffy. So let's a lot of people in here in the cpg space so grocery super important this is a category that I follow really closely almost 300 billion in sales in the first quarter and again it's up its up. By the way a new coin we turned is your over 32 years ago right like that's the new the new black in earnings calls is everyone's talking about their silver says 2019 which was the. Quote unquote normal year so groceries up twenty Twenty-One percent from from that normally year and we've kind of had this 8% growth rate which is better than grocery historically grew if you go the next slide you see our shape again, grocery is a unique one right like. Yet average sales in 2019 and then 20:28 was great for grocery right because nobody went to restaurants like so all the calories that used to buy from restaurant you're buying from grocery so that Gold Line is way up and then, in 2021 they had trouble comping against it in the first half of the Year where all that growth happen but they still 2021 ended up. [35:00] About 10% from 20/20 and 2022 is continuing to be up so far, from from 20 21 and so the way I like to think about this if you jump to the next slide is Sheriff stomach so this gray line is how much. Calories you buy from grocery stores in the Gold Line is how many calories you buy from restaurants and historically over the last 10 years it's been almost a 50/50 split so then the pandemic happened and we got seventy percent of our calories from grocery stores thirty percent of our calories from restaurants and everyone's like wait how did we get any calories from restaurants they're all closed doordash, right it was all off Prem consumption and then we've been waiting to see what would happen could grocery permanently hang onto that lead would restaurants come back and you can see over the last year it kind of close the gap but then look what's happened these like this year restaurants are way above Grocery and so the magic question here is, was their pent-up demand and we're all rushing out to restaurants because we haven't been there and that's kind of a, a one-time Spike and it's going to normalize back to 50/50 or is the new normal that we're all so sick of being in the kitchen for the last two years. That groceries going to have a real decline because if you're you know a leading Grocer in the US this this is a really scary slide at the moment you have a guess. Scot: [36:21] Yeah I'll throw a Freakonomics curveball in here I think a one input into this is the work from home trend, so when you're working from home it's a lot easier to go to the grocery store prep the veggies between zooms or while you're on his Zoom or something like that or like chopping below below the line and just prepare a meal right but when you're in the office and you work late and now you're kind of gone back to that office lifestyle then I think that's going to be a big driver I think. I think we're going to go back to working in the office I think when everything's up into the right you're like okay everyone can work from home but if things get tougher and we go into recession one of the levers Executives can pull as well we need everyone back in the office so I think we're going to get back to that, it won't be the same so it's not going to be whatever we were at before it'll be ten to twenty percent lower but I think that's going to be the Big Driver of this one is that work from from home Trend and I bet it's spiking now, um because of that so I'm seeing and we have data at spiffy for this so one of the things we do at spiffy is we go to office Parks as an amenity if I look at Dallas the Raleigh-Durham area and Atlanta, we're almost back to 80 or 90 percent to pre-pandemic levels at office parks. Now you look at Blue States like California New York Etc you're like a zero so so ultimately I don't know if that separation remains or not but ultimately we're seeing people get back to the office park at least in this Southeast kind of region which is which is I think that's going to drive this more than what you show her. Jason: [37:47] And so then the the last category we're going to talk about is obviously most near and dear to our heart is e-commerce. So in March we sold almost a hundred billion dollars worth of stuff inside baseball thing this is data from the US Department of Commerce it comes out every every month there's better data that comes out every quarter this quarter we had a crazy thing happen, the US Department of Commerce restated the data that they had published in the past and they actually added 100 billion dollars of extra e-commerce sales last year they said we've been Under reporting how big e-commerce was so you may have earlier in the year seen these articles in the Wall Street Journal and elsewhere talking about how the e-commerce craze is over and retailers caught up and it's a much more complicated story than that again e-commerce is up 55% from 20/20 so that's going to be tough to comp against the if we flip to the next slide. Scot: [38:45] Well I disagree with their methodology so we had them on the show and it was. Jason: [38:49] US Department of Commerce. Scot: [38:50] Here's the geekish I had to like break-in Jason was like you were just like. Jason: [38:53] It would be like if anyone mask was on the show. Scot: [38:55] Yes yeah you're just like slobbering all over yourself it was embarrassing and they God we're. Jason: [38:59] Tending that's unusual. Scot: [39:00] They got were Audio Only and the, but then as we got into it you know they count like curbside pickup is e-commerce and to me as an e-commerce guy I have to kind of throw the flag on that one because you know going during the pandemic you know, order online have it shipped to me and now I just go to the Best Buy and set outside they bring it to the store and now I've converted that to an e-commerce sale that doesn't really pencil for me so I think these numbers are overinflated because all the curbside pickup flipped over to e-commerce. Jason: [39:29] There's a common debate and you and I violently disagree on that one. Scot: [39:33] Digital influencer blah blah blah. Jason: [39:35] Yeah yeah exactly but yeah I mean if you so if you what's happening is e-commerce orders are being fulfilled from the store but you think about all these orders at Target that you place online and get delivered to your home from a shipped person or even from a u.s. post office targets fulfilling 96 percent of all their e-commerce orders from stores so curbside pickup is just another. E-commerce order that's fulfilled from a store and so again like to me. Scot: [40:03] But I had to get my car ready to go to Best Buy and I kind of blue shirts only difference is the blue shirt walked 50 feet to me versus me walking 50 feet in the store. Jason: [40:12] But so yeah we'll agree to disagree. Scot: [40:13] That's e-commerce more people can disagree. Jason: [40:13] Smart people can disagree and us so you see the shape again you know again 2020 accelerated e-commerce 2021 still did better although slower and so far in 2022 we're doing better again. Scot: [40:28] Boy what's the one that you hate so much what's the chart you hate the Goldman Sachs one. Jason: [40:33] Well yeah I mean there's a couple different. Scot: [40:38] Mackenzie or McKenzie yeah that's it. Jason: [40:40] Yeah so we'll talk. Yeah so jump to the next slide so Mackenzie is the early in the pandemic came out with this thing and said hey e-commerce has been perfect permanently accelerated by 10 years. Which is utterly wrong right like e-commerce. White kind of went three years ahead and now some categories are still three years ahead like grocery but a lot of categories are much closer to where we'd forecast which I'll show you in just one sec before I get to that though I just wanted to kind of show you pre-pandemic the Gold Line is have as retail grew this The Gray Line is how fast e-commerce grew again Scott and I would disagree about how to count e-commerce but still. [41:18] Retail tended to grow three to four percent a year a great year would be 5% e-commerce grew ten to fifteen percent a year, and and in the pandemic obviously e-commerce wildly accelerated and Retail kind of stayed flat people thought it went down but it kind of stayed flat so then we had this thing that's never happened in my lifetime, which is in like May of 2021, because retail had been so soft for so long retail actually grew faster than e-commerce and we're now having this topsy-turvy thing where the rate of growth for e-commerce and Retail are very similar and so you know I said hey. Well what would have happened if we didn't have the pandemic so this next slide is kind of showing the growth rate for e-commerce. And showing where we would have forecasted e-commerce to go and again in the Wall Street Journal they showed the blue line under the Gold Line. They have this old US Department of Commerce data and if you go to the next slide I zoom. Scot: [42:15] They don't wake up at 8:00 and put it into the table like it. Jason: [42:18] They don't know Tableau like I know tableau, and shout out to all my friends at Salesforce for the own table so you can see it's very noisy right now but it does seem like the pandemic permanently accelerated e-commerce. You know 122 years of acceleration not, not ten years and so then I think the very last slide I put together on the shape of e-commerce is in this is a scary one of me I'm curious what you think about this while e-commerce is continuing to grow well. Is Gary is this is traffic to the top 10 eCommerce sites in the US and this is a different story the gold on the grey line was before the pandemic the blue, the Gold Line was after the pandemic but you can see traffic went down in 2021 even though sales went up and traffic is down even further in 2022 and so what this means is fewer. Are going to e-commerce that the big eCommerce sites less often but they're buying more stuff when they go so. This will be our last question is we're way over time is, that like an inflation thing is that a change in consumer Behavior what do you have any hypothesis what's going on here. Scot: [43:30] So I think people were pegged at home for a while they bought everything they possibly could and they've bought forward so they feel like they got new laptops they've got their fancy exercise bikes. They've got all that stuff their peloton's and now they're just spin out on stuff and now they're wanting to do experiences and services so that's where the dollars are going if you know I think the Gainer of this traffic is probably, Airline sites hotel sites another we have visibility in this a spiffy because our largest customer set is rental car companies, we had a record day yesterday so people are traveling like. Pre-pandemic levels and which is really interesting so the dollars they do want to spend the discretionary dollars are going to experiences and not Services I'd call this a year to go I was a year early, I'm sadly many of our predictions. Jason: [44:16] We have a forecast every year and I get to cream Scott in the for. Scot: [44:19] Well I don't know what. Jason: [44:21] History doesn't show that but you guys don't know. Scot: [44:23] So I think that's what's going on so I you know but I feel like a really really interesting indicator is going to be Amazon Prime day so that's going to be in July of this year and we call it Prime day but every other retailer is glommed onto it and sees a bump from it so it's kind of this fabricated holiday not unlike singles day. That yeah that you know, that is going to be really interesting data point so that could you know the the bullish cases that's going to stimulate people to be like oh yeah I do need a couple other you know cables or a battery or whatever it is so we'll see that we'll be a nursing data point that I think will set us up for holiday and we'll get a pretty good indication of how this is going to go, will the consumer be like okay I'm all travelled out and I want to buy more things or will they continue down this Services dollars been passed. Jason: [45:11] I do think it's really complicated economy right now part of this is inflation and inflation I think is hitting e-commerce harder than than the sort of CPI numbers because the price of a lot of the goods that tend to sell on e-commerce are tend to be. Scot: [45:25] Their supply chain a lot of stuff you just can't get. Jason: [45:27] So there's there's constraints but also consumer Behavior has changed their categories that we would never sell on e-commerce before the pandemic that we are now so one of them that we talked about is Automotive that's a big ticket item right so you need less visits to sell a big Tesla then you then you did to sell a TV and another one is Grocery and when I say that people are Jason are you hi Grocery and I am hi I just had my knee replaced and I'm on some Good Meds the I wore it out going on store visits, the the grocery isn't that expensive but grocery sales and e-commerce are a week's worth of groceries it's 60 to 120 items so that. It is actually a lot higher per visit so some of these new categories becoming more important combined with inflation combined with the supply chain constraints I think off, aspire to do that and that's kind of our, our last take away because it's happen again if you go to the next slide we have used way more than our allotted time but there was no one that could put us off the stage and so. Appreciate it and Scott any closing words. Scot: [46:34] Did anyone have any questions. [46:49] How do you think is going to impact and trends that we're seeing right now. Jason: [46:53] So to repeat the question really quick big Trend in buy now pay later Apple just announced that they were going to have their own flavor buy now pay later built in the Apple pay this week at their event. Scot: [47:06] I've seen some interesting consumer behavior and I'm a little little incredulous on it because it's always sponsored when you dig into it it's like sponsored by a firm and so but what it what it shows is Millennials and gen Z they don't like to have as much open credit they kind of view that negatively and I see this I have kids that are in their 20s and they are freaked out by credit cards but they like to attach that credit to a thing and then pay it off and be done with it, so I think there's an argument to be made that there will be a generational the way we interact with credit will change and then people will after certain over a hundred dollars they'll interact with it in that way so I think that's a really fascinating thing and I want to see more data on that before 100% believe it but I was super incredulous that talk to my kids are like yeah that's how I think I was like well I guess there may be something here. Jason: [47:53] Yeah and as usual that's a really thoughtful and wrong answer. Scot: [47:58] For you yes. Jason: [48:00] No so it. Buy now pay later is huge right now it's the fastest growing form of check out and / Scott's point I would argue they've done an amazing job of branding right like oh it's credits evil credits bad this is not credit right and I talked to our traditional, um Financial customers and I talked to a family-run bank that's a fourth-generation bank and the CEO is like Jason, my family's been in the money renting business which I think that's an awesome way of calling the credit money money renting business for 100 years and that buy now pay later dog doesn't hunt, like it's just a bad version of credit that's been rebranded and. At the moment it's working like it's more expensive to sell something with with a firm or with a buy now pay later service than it is with a credit card but retailers are all doing it because they're selling more stuff because of it right so that's the argument at a firm. Best Buy you should pay more to use buy now pay later. Scot: [48:59] Conversion rates go up. Jason: [49:00] Because conversion rates go up. The scary thing that's starting to come up is guess what's happening right now 42% of all those buy now pay later purchases are now in arrears right so so kids haven't kept up with those purchases it's a. Scot: [49:15] What would a firm would say is that on the front end they can tighten the credit now so yeah that's what they all say. Jason: [49:20] The jury is out and I would say like this Amazon announcement is kind of an interesting nothing Burger because guess how you pay for the the Amazon the Apple buy now pay later service with a credit. Right so you're so it it's kind of like. If the buy now pay later services are rebranded credit and they kind of hide the fact that as credit that Apple buy now pay later is installment payments on a credit card. So so the. Is still out but there is a fear that that this whole bubble of buy now pay later is about to burst and whether it does or not I would say there's too many of them there's going to be a, consolidation retailers are having a lot of pain about. All the consumer requests they're getting to support all of them and we call it NASCAR in the checkout when like you have to you know have 57 logos on the checkout for all these different different ways to pay so I think it's kind of going away. Any other questions before they kick us off the stage. Awesome well thank you guys so much and until next time happy Commerceing! Scot: [50:20] Thanks everybody.