Podcasts about Out of Reach

Read along to practice your English and to learn the English phrases OUT OF REACH and OUT OF TOUCHIn this English lesson, I wanted to help you learn the English phrase out of reach. When something is out of reach, it simply means when you try to grab it, it's a little too far away. Sometimes in the kitchen, there are things on the top shelf and they are out of reach. You can't reach them, but it can also mean that something you want to do is something you'll never be able to do. I will never be prime minister of Canada. That is out of reach for me. I would have had to have started my political career years ago in order to get to that point in my life. So becoming prime minister is out of reach. So something can physically be out of reach, but something you want to do can also be out of reach for you.WANT FREE ENGLISH LESSONS? GO TO YOUTUBE AND SEARCH, "BOB THE CANADIAN"If you enjoy these lessons please consider supporting me at: http://www.patreon.com/bobthecanadianThe other phrase I wanted to teach you today is the phrase out of touch. When someone is out of touch, it means that. Oh, sorry, this is one of the first times I forgot to teach something. You can also say you're out of reach when someone can't get a hold of you. If I was to go on vacation really far up north, I would be out of reach for a few days because phones don't work that far north. Now, let's move on. The other phrase I wanted to teach you today is the phrase out of touch. When someone is out of touch, it means that they don't really know what the current way of doing something is. So you could say that old people are a little bit out of touch. They don't use their phones to watch things on social media. They still watch things on a computer. Maybe instead of, I'm trying to think. Maybe instead of taking an Uber, they still take a taxi because they're out of touch and they don't realize there's a new way to do it.So to review when something is out of reach, it means it's hard to actually grab. When something is out of reach, it means it's something you won't be able to do. And if you go on vacation, you might be out of reach for a while. And when you're out of touch, it simply means that you don't know what's hip and cool anymore. You've just gotten too old and you don't know. But hey, let's look at a comment from a previous video. This comment is from Denis. Thanks a lot for the lesson, Bob. As you get older, you get stuck in your ways. Just as you become stiffer physically, you also become stiffer mentally and more narrow minded, unless you make a conscious effort to keep yourself flexible. That's from Viggo Mortensen, a quote from a famous actor. And my response: I'll try to stay flexible on all fronts.You know, there's some truth to that. Like, you become physically quite stiff as you get older. Like, it's hard to bend and touch your toes and do things like that. And mentally you kind of get stiff as you get older. It's kind of unfortunate. It would be nice if we could stay really open minded and not become as stubborn as we get older. And it would be nice if I go and run 5 km, if I could walk the next day instead of sitting for the whole day waiting to feel better. I did that a couple weeks ago, by the way, with my son, and I was very stiff the next day. I'm not sure it was a good idea. I was able to run the whole race. I got one of my worst times ever, but still I was able to do it.But yeah, it would be nice if we weren't. But there is always some advantage. I think we need people who want things to change and people who want things to stay the same. And then I think together we actually get a nice balance. We get something in the middle and I think that's a bit of an advantage. We don't want the new idea people to always get theiSupport the Show.

It's Martial Arts May-hem and what better film to start us off? Hosts Dominic Lawton & Ken B Wild are heading off to eastern Europe to find a pen pal as they deep dive the 2004 Steven Seagal classic - OUT OF REACH! The guys discuss Seagal's voice overs and stunt double tomfoolery, black candy floss and serial killer MO's! Meanwhile, Dom describes Steven Seagal as a McDonald's burger, whilst Ken questions if our hero is actually the Zodiac Killer! The film-pitch this week sees the return of Jake Fever from our last Seagal episode! When Fever's favourite child camper goes missing, its up to Fever and a new Interpol agent to track him down... It's KIMONO UNBOUND! Cast includes Steven Seagal, Clint Howard, Jean Reno, Jason Statham, Post Malone, Chuck Norris as Chef Norris and Carl Weathers as Interpol Chief Carl Weathers!   Seagalogy: The Ass-Kicking Films of Steven Seagal by Vern   Have you got a question, want to suggest a film to review or would you like to send us your own film pitch that we will read out on the podcast? Email us! Visit our website for more episodes & written reviews : WWW.BADMOVIECULT.COM Follow us on TWITTER Follow us on INSTAGRAM Join us on FACEBOOK Dominic Lawton can be found on TWITTER Ken B Wild can be found on TWITTER Got a spare minute? Leave us a rating or review on iTunes!

In this episode of the Get Rich Education podcast, host Keith Weinhold explores the current state of home pricing and the housing market.  He examines whether homes are overpriced or underpriced by comparing them to historical values, gold, and bitcoin, and discusses the influence of inflation and financing on affordability.  The episode features insights from Danielle Hale, chief economist at realtor.com, on the challenges for young homebuyers, housing supply issues, and mortgage rate effects.  The conversation also covers the build-to-rent trend, investment strategies, and the importance of increasing housing construction.  Weinhold concludes by offering free coaching for building real estate portfolios. Resources mentioned: For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Welcome to GRE! I'm your host, Keith Weinhold. Home Prices Aren't Really Up! Brace yourself. A mic drop moment on real estate costs is coming.  It's an unmasking - a reality check on property prices. Are homes actually still priced too LOW today? How could that POSSIBLY be true at all? On Get Rich Education. _____________   Welcome to GRE! From Belgrade, Serbia to Belleville, Illinois and across 188 nations worldwide. I'm Keith Weinhold and you're listening to Episode 501 of Get Rich Education.   We'll get to “Are homes overpriced or underpriced today?” shortly.    But understand this…   I successfully acquired something at a young age. And you can too. That thing that I successfully got ahold of was not millions of dollars… because I came from average means.   What I intentionally and successfully acquired was millions of dollars in debt.   Yes, obtaining millions in debt from a young age… is what led to me quitting my day job while I was young enough to enjoy it.   You, the longtime listener, COMPLETELY understand and appreciate what I just said. If you're a newer listener, that sounds unusual or even irresponsible. Well, come along for the ride.    Also, a layperson - or a newer listener - would respond with, “No one talks that way, thinks that way, or does that.” - taking out millions in debt and calling THAT aspirational.   But using that debt as leverage is how you ethically take funds from the big banks - take Chase Bank's money, take Bank of America's money, take Wells Fargo's money - learn how to use it, be a responsible steward of the funds, provide good housing for people and prosper.    That means you get the return on both your down payment - and the entire amount that you borrowed from those banks. That all goes to you. And both your tenants and inflation pay the debt back - not you.   Look, I know one person. I personally know a guy - Greg. Greg makes $80K a year from his day job. Good guy, married guy, one kid.    And his NW increased by $2M just in the COVID run-up. He has a modest salary but his NW is up $2M just since 2020.   First of all, do you think that any of Greg's co-workers experienced that effect? No, he's really going down my path. You soon get unrelatable to co-workers and even some of your peers.   Well, what makes it possible for a good family guy - or anybody - to go from a middling salary to obtaining life-changing wealth?    It takes leverage. He borrowed for bank loans. That way, he could acquire 5x as much property than if he paid all cash for his rental properties.    That way, he had 5x as MANY properties… and properties all appreciate at the same rate regardless of how much equity you have in them.    See, if he had paid all cash, he'd only have a $400K capital gain. Not bad, but $2M is life-changing. Thanks to leverage.   Everyday people obtain life-changing wealth this way. It's so substantial… that it won't only affect Greg's life. If he continues on this way, it'll take care of his children, grandchildren, and great grandchildren.    And you know, maybe this is why, one of the most recurrent guests we've had here in the history of this GRE, Ken McElroy, he says:   “The best investment in RE is the one that appreciates the most, not the one that cash flows the most.” That's Ken McElroy. And now you can see why he says that.   Leveraged appreciation creates wealth the fastest. Cash flow is important and it CAN boost wealth but that happens more slowly. Principal paydown doesn't create it - it enhances it… and it's the same with tax benefits.   Deferring your tax on a 1031 means that you can re-leverage a greater amount.   Low interest rates also don't create wealth. In fact, I bought my first ever income property with a 6⅜% mortgage rate and my second income property with a 7⅝% rate - that second one had interest-only payments.    But I borrowed the maximum amount that I could without OVERleveraging. Overleverage means losing control of the mortgage and operating expenses.   The lesson here is… get the leverage.   And… case in point. Here we go…   Speaking of appreciation, the LATEST Case-Shiller Home Price Index figure came in. The US currently has… 6.4% YOY home price appreciation. Now, their index is only based on 20 cities but that gives you a pretty good idea.    In fact, that is the fastest rate of increase since 2022.   Now, if you've let equity build up in your properties to the point that they're half paid off, you had 2x leverage, meaning the 6.4% appreciation just gave you a 12.8% leveraged return on your skin in the game.   And, of course, if you leveraged with a 20% down payment a year ago, that 6.4% means that you just got a 32% return.   And as we know, these returns I just told you about are from one of just one of FIVE ways that you're expected to be paid simultaneously.   But yeah, a 6.4% higher is merely a DOLLAR-DENOMINATED price. That's what that is. Why do I say that carefully?    Well, there are a few reasons that home prices are 6.4% higher - inflation from dollar printing could be why, the value - not price - but some properties have a greater VALUE, distinctly separate from inflation.   What's the distinction there - how does this happen? What's one difference between an INFLATED price and a greater value?    Well, say that a local economy is hot because there are more high-paying jobs there now than there were last year - say an influx of medical jobs or AI jobs or chipmaking jobs.    Well, even absent inflation, a property that now has PROXIMITY to better-paying jobs - that's now a property that's more desirable.    Someone is more willing to PAY MORE FOR - and simply CAN pay more for. Again - that phenomenon is ABSENT inflation.   What's another reason that home prices rise - and rose 6.4% YOY in this case?    If better PHYSICAL AMENITIES are in new homes than there used to be - say bigger garages or new communities with pickleball courts, well, people are more willing to pay more for that.    To review, there are three reasons that home prices go higher: inflation, appreciation from value creation - like how the same home is now located closer to more high-paying jobs, and thirdly, better built-in amenities.   All three of those increase dollar-denominated price or value. They all increase the nominal price.   Now, let's pivot into the fact that “Home Prices Aren't Really Up”.    I've covered this a little before, but I'm going to go deeper today in giving you the most comprehensive look at home prices today - compared to the past - perhaps than you've ever had in your life.   Some might say, “C'mon. How can this be? Homes cost, perhaps 40% more than they did just four years ago.”   Well, I've got a mic… drop… moment… coming.   - Home Prices Aren't Really Up.   We need a good measuring stick to see what home prices are doing. So we've got to stop pricing homes in dollars for a minute. It's a poor long-term value measure.   Ludicrous inflation means the dollar has lost over 25% of its value just since 2020, and 97% of its value since 1920.   Let's use a commodity and money that has been valued for five millennia - and its physical properties have not changed one bit in allll that time, and its valued across continents and cultures - that's 50 centuries of value! That's gold.    We'll get to a more modern measure soon. But first, gold is the best one.   Now, I don't know who to credit, but for a while, there was an image floating around out there that GRE got ahold of.    It showed that 10 kilos of gold would buy you an average home back in 1920… and also, that 10 kilos of gold would still buy you an average home today… total… mic… drop… moment. Wow! Is there any better evidence that home prices are NOT up - but higher prices reflect that the dollar is down?   Actually, yes, there is a little better evidence. We ran the numbers here and learned that - it's even more astounding than that!    You run how many dollars per ounce gold is worth, that 35ish ounces are in a kilo and you look at home prices then and now and we discovered that - it's even more of a jaw-dropper…   … because in 1920 - which I'll just call a century ago - you could buy an average home for 8 kilos of gold and today, you can buy an average home for just 6 kilos of gold.   So if you want to know how much home prices have changed in the last century, they are down 25%.    They're 25% cheaper today in terms of gold - clearly a more stable value indicator than horrendously diluted dollars are.   And also, GRE made a new image that shows this - 8 kilos for an average home a century ago, 6 today. I sent you that image in our newsletter about ten days ago and that image got shared a LOT of times. Your first reaction to this whole thing could be: "Wow! That's wild. The dollar really is sooo diluted." Alright. What about home prices in terms of a popular, nascent asset that only arrived fifteen years ago, bitcoin? 2016: Average home cost $288K, or 664 bitcoins. 2020: Average home cost $329K, or 45 bitcoins. 2024: Average home cost $435K, or 7 bitcoins. So, eight years ago, a home cost 664 bitcoins and today it costs 7.  That means that home prices are down 25% in terms of gold in the last century. But they're down 99% in bitcoin over just the last 8 years. And the dropped mic keeps reverberating through the stadium. Today's homes are cheaper in gold and drastically cheaper in bitcoin.  See, it takes real world resources and proof of work to create real estate, gold, and bitcoin. None of these things are required to produce a dollar - none of them. That's why its value is approaching zero. But let's go deeper. You need more answers - you are part of a really intelligent audience.  Because you might be thinking: "Wait a second. Some other things have changed too." For real people - everyday people - aren't home prices actually more out of reach than this? That's because since 1920, home prices have risen faster than incomes. That puts them OUT OF REACH for more people. Something else has changed. A home's lot size is smaller today too - the land that comes with the property has a smaller area. Let's understand too - homes also use some cheaper materials today. For example, heavy, milled raw wood doors - the interior doors - of yesteryear have given way to molded particle board today. This is beginning to build the case - evidence - that homes SHOULD be cheaper than they are today.  Let's keep going, because there's more to consider. Mortgage rates themselves - just rates in isolation - they don't put homes out of reach at all. The long-term average is 7.7%, per Freddie Mac, on the 30-year FRM. That average goes back to 1971, when they first began tracking them.  Oppositely, you can make the case that U.S. homes should cost even more than they do today. In many advanced nations, homes are way more pricey. Even next door in Canada, they cost about 20% more than U.S. homes. Canadian salaries are lower than US salaries too - yet their home prices are markedly higher. On some levels, you're getting more "home" today in the US.  A 1920 home would feel savagely uninhabitable to you if you tried to live in one now.  Here's what I mean… In 1920: 1% of homes had electricity and full plumbing. Today: 99% of homes have electricity and full plumbing. What I mean then, by savagely uninhabitable, is enjoy walking to the outhouse in the middle of the night when it's 35 degrees. Then there's size: 1920: The average home had 242 sf per person. Today: The average home has 721 sf per person. Because today, family sizes are smaller and homes are way larger too. Today's amenities would be unthinkable in 1920—walk-in closets, roofs with R38 insulation, double-paned thermal windows, smart thermostats, voice-controlled lighting, quartz countertops, and Kitchen Aid appliances. Maybe even a security system. They're all things that homes have today. Gosh, even the fact that you have a garage - a HEATED garage even, finished basement, air conditioner and modern washer-dryer would leave 1920 homeowners dumbstruck with their mouth agape—maybe even flabbergasted. Those old folks from yesteryear wouldn't believe all that you get with a home today. Yet that 1920 home would have cost you more in gold, than today's more sizable homes with all their plush amenities. Now, when it comes to - though home prices aren't up, are they more “out of reach” for the average American?” Over the past five years, they ARE - because home prices have now risen faster than incomes over THAT stretch. But another BIG reason that homes are SUBSTANTIALLY more affordable today than they were in 1920 is… financing terms.  Today, you can make a down payment for between 3% and 20% on a home. Do you know what loan terms were like in 1920? You had to make a 50% down payment and then had to pay off your mortgage in 5 years.  Can you IMAGINE if that were the case today? How many people could put 50% down on a home today and then pay off the balance within 5 years. Virtually nobody. That's why homes are more within one's grasp today. Overall, you can see that there are a lot of countervailing factors here… tempering that it took 8 kilos of gold to buy a home a century ago, and it just takes 6 kilos today.  The bottom line here is that, long-term, real home prices aren't up. Dollars are down because they've been printed like crazy.  From today, nominal home prices could keep rising for years.     Dustin on social had a funny comment about this - “How many baconators from Wendy's would it take to buy a home today?” Ha!    I don't know. I guess that's a hamburger - I don't go to Wendy's. Maybe then, a home costs 60,000 baconators today.    Coming up straight ahead - what will happen first - a $750K median-price home, $100K bitcoin, or $5K gold.   Also, what's perhaps the biggest trend in real estate investing that not enough people are talking about - and how you can make money from it… and more… all next - I'm KW. You're listening to Get Rich Education.  ______________   Welcome back, to Get Rich Education. I'm your host, Keith Weinhold.   On our latest GRE Social Media Poll, we ran this question.   What will happen first?   The median home value hits $750K. Bitcoin hits a $100K price. Or… Gold hits $5K.   I'll give you the result, but what do you think? Again, which one of these three things will happen first?    The median home value hits $750K. Bitcoin to $100K. Or… Gold hits $5K.   The results across both LI and IG were pretty similar - sometimes you get differences there, as LI is a more professional audience.    One voter in the poll also commented - it's syndication attorney Mauricio Rauld, who we've had here on the show before.    Mauricio said: I think assuming Bitcoin doesn't collapse, it probably makes a run to $100K in the next few years (who knows, could be next few months). But with the median home, at 10% a year, it would take 6 years to hit $750K so that is a decade away. That's his thought - sounds reasonable.    The poll RESULT is: Bitcoin will hit $100K first. That was most likely, with 57% of you answering that. That makes sense since its volatile and close to striking distance.   The median home value will hit $750K finished 2nd. 26% of you said that.   And gold up to a $5K price got just 17% of the vote. That makes sense since gold prices would have to about double from here.   You can always join along in the conversation and polls. We are really easy to find - because on virtually every social platform - Facebook, Instagram, LI, YouTube - we ARE: “Get Rich Education”.   Over on the Get Rich Education YouTube Channel, I recently covered how the Fed is overseeing a “Tug of War” between inflation and a recession. They don't want the game to end. The Fed is trying to keep the game going.    They don't want participants on either side falling into a pit in the middle of the Tug of War game between inflation and a recession. They don't want either side to win. If one side wins, the Fed loses.   This “Tug of War” game is really a great way to understand how the Fed works, how they control your money, and what their motivations are. A video about that is on our YouTube channel - where you get the visual of the Tug of War game between inflation and a recession.   That's just one example of how that content is often different from what you're hearing now. Get more… on our YouTube Channel… called “Get Rich Education”.   The homeownership rate just fell again a little, quarter-over-quarter, increasing the number of renters and rental demand, which I expect will only continue. From CNBC, Realtor.com's Chief Economist Danielle Hale tells us more. Let's listen in. It's about why the housing market is pretty dire for young Americans, then I'll be right back with some key commentary on this. Yeah, there in Economist Danielle Hale's interview - if mortgage rates go higher, inventory pulls back and we tend to see modest HPA. Most agree that if mortgage rates go lower, we'll see RAPID HPA.   She also just keeps exposing what we all know. “We need to build more housing”.   A brand-new home constructed with a renter in mind, sold to an investor, is known as build-to-rent housing. You'll see it abbreviated BTR. It's usually single-family.   Some abbreviate it B2R. These must be the same people that say H2O instead of water.    It's become massively popular.   Despite an overall housing shortage, last year, a record 27,495 BTR homes were completed.    That's up 75% from the prior year and up an astounding 307% since pre-pandemic deliveries back in 2019.   So what's driving the build-to-rent trend? Locked into low mortgage rates, existing homeowners won't sell. So, instead, new inventory must be constructed. More overall housing demand than supply. Wannabe first-time homebuyers cannot afford homes today. Renting a BTR is next best. National BTR occupancy is over 96%. BTR operates similarly to apartment buildings under property management, yet offer a single-family living experience.   Some of these communities have: leasing offices, pools, and fitness centers.   The homes themselves often have: luxurious modern finishes, garages, and fenced backyards.   What's in it for investors? How do you make money with BTRs? 5% mortgage rates* (I'll get back to that in a minute) A long-term ownership focus, generating revenue over time rather than immediately Tenants have a house-like feel. Expect 3+ years avg. tenancy duration. Mgmt. fees are low because all houses are the same and all in the same area too BTR purchase prices are HIGHER than resale property. You will pay more. Expect better appreciation than resale property The rent range is often $1,500 to $3,500 You can expect low maintenance. It's new. Builder home warranty So there are a ton of factors that give build-to-rent investor appeal. Really, 5% mortgage rates? Yes. Here at GRE, we can introduce you to some BTR homebuilders that will buy down your rate for you. One is lowering it to 4.75%.    I encourage you to get that incentive now, because when mortgage rates fall substantially, I don't expect these national and regional homebuilders to keep giving you the rate buydown.    Sorry J-Pow. This kinda makes your next Fed rate decision… seem pretty irrelevant.   It's a great rental model to pursue and an amazing time to do it with the rate buydowns. I wish BTR would have existed when I began as an investor.   You really didn't start hearing about BTR at all until about ten years ago.   Now, I appear as a guest on other business and investing shows. Quite a few times, the host asks me where the REI opp is today.    The answer that I've been giving is that it's with build-to-rent properties and these rate buydowns.   An income-producing asset is like your employee that's working for you—but without the personality problems. The property is also working for you 24/7.    Besides just helping you find the best BTR deals today, we can help set up an entire real estate investment portfolio plan for you.   -We can help build an income-producing RE portfolio for you with our free coaching. Truly free.    Now, if you're new here, you might think that we're trying to sell you something - and we aren't.    The way it works elsewhere is that some people get attracted to the free thing and then once you're on the phone or Zoom or free live, in-person event, they're going to try to sell you their better PAID coaching or some online course for a fee.   We don't even sell coaching or sell a course. This is free no-strings, no upsell, no catch coaching.    OK, it's sort of the opposite of your auto dealer calling you about your extended warranty - an overpriced item that you don't want. Ha! If you want to buy something from GRE, you can't because we don't even have anything to sell you. We are here to help!    Also, I have no problem with companies selling paid courses or paid coaching - not at all. Some courses are worth paying for. It's just not what we do or have EVER done here.   But see, buying real estate that you own directly is still not as simple as just finding a keyboard and pressing: Ctrl, alt,  Deal.   So that's why our Investment Coaches help you learn your goals, and navigate the process. Then you'll want to keep in touch with your coach because the best deals are often changing.    For example, you might think that you want to buy income property in, just say, Alabama, because its prices haven't run up as much as they have in Florida.   But we keep regular lines of communication open with build-to-rent homebuilders nationwide… and say there's a new community, in, Florida, where the real deals are going to be for the next few months…    …and though you still like Alabama, you like how Florida is growing faster so you end up going there.   Or there's better cash flow with some BRRRR strategy properties in say, Ohio, that we have that your coach informs you about.    So, I encourage you. Get & maintain a line of communication with your GRE Investment Coach.   To review what you learned today:   Leverage is THE most powerful wealth creator.   You can make the case that homes are NOT overpriced today. Home prices aren't up; the dollar is down.   No one knows the future. But there is ample room for more home price growth.    Build-to-Rent property keeps increasing in popularity… and investors can get mortgage rates on them as low as about 5%.   To contact an investment coach, it's free, start at GREmarketplace.com.   Until next week, I'm your host, KW. DQYD!

Jeff Espinoza “Classic&Vintage Blues”:”A Hard Road””Oh Pretty Woman””Alabama Blues””Out Of Reach””Someday Baby Blues””I Loved Another Woman””Rollin’ And Tumblin’””Stop Breaking Down”“Lazy Poker Blues””Stay While The Night Is Young””King Bee”” Roll Your Money Maker”Ted Russell Kamp “California Son”:”Hard To Hold””The Upside to the Downslide””California Son” Escuchar audio

EP308 - Amazon Q2 Earnings http://jasonandscot.com Amazon reported a strong quarter across the board for Q2, soundly exceeding analyst expectations and retail industry averages. In this episode we break down the 1p and 3p retail performance, AWS, and the Ads. We go into depth around Amazon disruption reorganization (to a regional model), Amazon's newest efforts in grocery, and health care. 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. Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 308 of the Jason & Scot show was recorded on Thursday, August 4, 2023. Transcript Jason: [0:23] Welcome to the Jason and Scot show this is episode a 308 being recorded on Thursday August 3rd 2023 that's a lot of Threes I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scot Wingo. Scot: [0:40] Hey Jason and welcome back Jason and Scott showed listeners well Jason today is one of my four favorite days of the year it is Amazon earnings day. Jason: [0:51] I was going to guess it's the 4th Halloween okay. Scot: [0:54] Nope good guess and today was a real doozy so we have a lot to talk about and of course it wouldn't be a Jason and Scot show without. Jason: [1:05] Amazon news your margin is there opportunity. Scot: [1:18] That's right sometimes I hear from listeners why do you guys spend so much time talking about Amazon well my rationale is a it's one of my favorite subjects did be not only is Amazon the biggest retailer but it represents over half of e-commerce and for our listeners I think their data is pretty much the standard compared to even anything like comscore or adobe, just by definition of them having so much data that it is the basically the best source for what's going on and then given our macro environment we're at the tail end of the last show you were talking about how it's setting up for kind of a bad holiday so we're heading into this it's a critical quarter and for me Q to see what Amazon is done really sets us up for the back half of the year. And especially holiday. So kind of a canary in the coal mine and right now there's all this confusing data coming out about the consumer you see things that sentiment is down travel to starting to tip over housing is slowing so there's some negative but yet credit card spend is going pretty well and so this is probably the best read we're going to get on the consumer heading into holiday. [2:39] So I think of it as Scott foreshadowing the whole industry that's why we like to spend a lot of time on it, so the other thing I'll point out is it's been kind of a rough period for Amazon the last, probably 6/4 a day that things have slowed down post covid they've struggled they've done some layoffs but having watched Amazon if we zoom zoom out having followed them since 97 they're really good at reading the room and if the market and the externalities are saying you're free to invest they will invest like crazy and you know and by saying that I mean they'll focus on Revenue growth implementing infrastructure but then when the macro turns - and they can move to harvest pretty quickly so, a lot of that kind of goes as good as Wall Street so Wall Street will love them and give them a lot of rope and they'll invest invest invest and then while she starts to worry they're like oh my gosh this is scary your spending so much things are doing this and then they will turn very quickly and can then get into Harvest mode and produce results that's a really a big theme for this quarter so that's part of the set of the other part of the setup is we have some eCommerce data coming into this what is that, what are those tea leaves tell us before we jump into Amazon. Jason: [4:00] Yeah so we have data from the US Department of Commerce through June and it is a really complicated story so that the top line is a little bit of a worrisome sign so year-to-date January through June of this year retail sales are 1.9 percent higher than they were during that same period last year so time now to put that in perspective in the 10 years leading up to covid we average retail growth of 4% a year so so far this year the growth is less than half of the industry average and then the last three years of growth the last 3 years of Cook post covid were the biggest three years of retail growth in the history of retail so we had these three monster years and now for the first time we have a six month period That's, well off the average and, Q2 was worse than q1 now you know people always say well what about inflation in these numbers if you adjust all these numbers back to 2019 dollars to sort of take inflation out of it, retail sales this year are actually down 2.8 percent from last year so so. [5:15] All of the Mir growth we have this year is really due to its unusually high inflation now big caveat there, the information news is actually pretty solid in inflation in June is only up three percent year over year which. [5:32] You know before all this inflation stuff started the Fed was always trying to keep inflation between two point two and three percent so. [5:39] Information down and three percent if it if it stays down there is pretty encouraging but from a retail standpoint, you have this weird thing you have the macroeconomics getting better there's a lot more economists saying we're not going into a recession we somehow managed a soft Landing you've got the inflation numbers coming way down all the wages and employment numbers have continued to be robust so you're all these favorable macroeconomics and now the consumer has stopped spending and you hear every retail are talking about how, consumers are trading down a cheaper Goods they're buying more needs and less wants and all of these sorts of things and so. If you if you kind of look at the retail industry average. There are two retailers that have hit consistently been outperforming the industry average and those two retailers are Walmart and Amazon which are the two, largest retailers in the United States of America. Um there's some controversy over who's actually bigger but we'll leave that for another show if the bottom line is if the two biggest retailers in the market are both outperforming the industry average. That's a bad sign for the rest of the retailers. Scot: [6:54] Someone's losing share. Jason: [6:55] Exactly exactly and I would note we don't talk about it a ton on the show but then there's two Chinese companies that are. Dramatically grabbing share really quick so she and and and Tim ooh so you know outside of those four. It's not looking super up to Mystic for, for retail so I was super curious to hear not only how Amazon did but what they're what guidance they gave for Q3 and what they were seeing in terms of consumer spending because we do have this weird paradox. Macroeconomics getting better, but retail spending getting worse so that being said like what what did Amazon report Scott. Scot: [7:40] Well it's an interesting quarter because again for like the last six quarters are 18 months it's been kind of using Wall Street language Wall Street always comes in with expectations and then you either meet those beat them or miss them and or sometimes I'll call it in line if you meet their expectations well this was this was pretty much an unprecedented four-way beat with a raise and that's that last part is what about next quarter so the current quarter is did you how did you do and then did you for future Revenue expectations did you stay in line with those or did you raise them so this was kind of like one of the best quarters you can have using all the Wall Street language and I say a four way beat so number one is earnings per share, while she was expecting 35 cents and they handily beat that at 65 cents so that's the first one the second one is revenue revenue came in at 134 billion versus 131a clear beat. [8:41] AWS Revenue there was a lot of worry around this because Microsoft was really showing their first of all Microsoft had to break out as your separately for the first time and it used to be all clumped in together in this kind of cloud bucket, where they could kind of have office they're hiding what was going on with Azure so now that Microsoft had to call, carve out Azure it has been slowing down very dramatically so everyone was very worried about that a WS beat the expectation was 21.8 and they came in at 22. I will talk a little bit more about the growth things and some other color there third-party exceeded expectation the only thing that was really kind of in line is online store Revenue but the margin improvements if you can't go back to that EPS were so dramatic that everyone was fine with Alan being I think it was like. [9:30] Point two percent miss or something it was like basically in line so that was the only piece that didn't beat and everyone was fine with that because all these other things really swamped the outcome there and then to cap that off the midpoint we'll talk about it but this represents about 11% growth all in for this quarter and the next quarter they guide for growth for 11 to 13 so they're basically saying hey we beat your expectations this quarter and things are accelerating into Q3 so and then they also on the bottom line that guided up for next quarter as well so that went really really well um and that was a pretty amazing so let's peel the onion and see what we can learn you want to take us through the retail business. Jason: [10:18] Yeah for sure so the the retail business globally grew 11% so that last year this in this quarter they grew nine percent so accelerated growth, North America grew 11 per sent an international grew ten percent International really struggle this time last year they actually had a 12% decline last year and so so in general pretty robust growth now, these are the revenue numbers which returned mine everyone Amazons and Marketplace they don't report all of their sales as Revenue they only report, one piece sales and then the fees they earn on 3-piece sales so it's not it's not a perfect. [11:09] Now match to to the sort of Industry retail data I said but it's a close approximation so, on average retail grows four percent a quarter the last two quarters retails grown you know less than half of that and Amazon comes in at 10 or 11 percent growth. So that's you know a pretty healthy outperforming that the industry average is and, you're essentially taking share from the rest of retail now often just a side note. Obviously the vast majority of Amazon sales are online traditionally online grows much faster than. [11:48] Brick and mortar so historically we would see ten to fifteen percent online sales but post pandemic that's actually slowed down quite a bit and so, online sales this year are probably averaging around. Seven and a half our eight percent and so Amazon's growth not only did it beat brick-and-mortar it actually beat the industry average, even for e-commerce so that that is very robust, they spent a lot of time both in their their press release and also in their earnings call talking about their focus on efficiencies, and you know the all the work and efficiencies reorganization of their supply chain you know changing of Labor models, that those others efficiencies are starting to bear fruit because, the profitability was significantly up for. [12:52] For the retail business for this segment so I want to say no for North America they ended up earning like 3.2 billion and earn income. So you know some quarters they don't learn any so 3.2 is a healthy number. [13:10] For their growth and for people that aren't following it. Part of these efficiencies is a super interesting story essentially what Amazon has decided and what they now seem to have successfully executed is that having a national Supply. [13:27] Chain and a national order fulfillment network is not the right way to structure themselves so in the old world they had one order fulfillment system that covered the whole nation you could really want some, delicious Green Tea Oreos you know that are only in the warehouse in California and you order those and Amazon figures out had a, get those Oreos to you in 2 days from the warehouse in California, and increasingly what Amazon said is you know customers really want speed we have to get faster in most cases where promising next day or same day to day is. Is you know a promise from 10 years ago and in order to do that efficiency efficiently and save money, we have to have those Green Tea Oreos really close to Scott to start things off and so we're going to drop a bomb on our own industry-leading fulfillment Network and we're going to redesign it as a set of regional networks so that the vast majority of good Scott orders come from a much shorter distance and so one of the, the impressive results of that effort today is this quarter Amazon said that like despite all this growth and increasing order volumes that they actually drove 20% less miles than they did this quarter last year. [14:42] So they're very successfully getting the goods, closer to the consumer and to put you in put it in perspective how many Goods that is they announced that they now have over 300 million, items that are eligible for Amazon Prime and over fifty percent of those items get delivered same day or next day. Scot: [15:07] Yeah I thought that part was pretty amazing and what they've done is they've split the country into eight regions they actually were pretty and the call to get into some pretty interesting detail on this end and I thought that was interesting because I usually pretty pretty tight-lipped on this so then so they've taken their National optimization you talked about and they're almost running each region has its own country so they're doing more of the load balancing inside of there so in addition to the 20 percent fewer miles there touching the packages 20% less and you now get 76 percent of the units are in the union are in the region and just a while ago it was 66. [15:50] And then what he's what he's basically saying is that's a big efficiency and then within there another efficiency is they're leveraging the same day where houses so things used to go from these really big distribution centers to the smaller ones and now we're going to these much smaller ones and they can now inject things in there and he said those are streamlined and they can get an item from the order coming in to delivery in as little as 11 minutes and those are even closer to the consumer so that it's almost he didn't say this but I kind of envisioned as eight regions are split up into eight more regions almost with these tiny you know within points being some of these other ones they basically said this is working so well we're going to double the number of these small last-mile fulfillment centers so that was I don't think Wall Street heard that because that's you know whenever Amazon says double that's a big number because they have like 200 ish of the big fulfillment centers I don't know how many small ones are but Amazon doubling anything is Nan. [16:55] Trivial number of dollars they're going to invest you didn't say over what time period you want your when ordering covid they said they were double and they went from like 120 fulfillment centers took to actually literally doubled those pretty quickly so it's going to be interesting to watch that build-out I haven't seen one of those I've seen them Beck's I haven't been in one of been on the back end of one to watch the flex drivers that that's kind of what they used to do for Flex drivers so be interesting to see how they scale that and I would like to go got a visit one I don't I don't know if any of the dsps which spend a lot of time with dsps here at spiffy so I've got to see this side of the world a lot more than I did in the software e-commerce world and there at the big fulfillment centers at these delivery stations that are called bolted on the side haven't seen how they pick up from some of these but I'm making it a mission. Learn more about this. Jason: [17:48] Dsps are the third party delivery services that Amazon uses yeah. Scot: [17:52] Delivery service professionals yeah so that was interesting. Jason: [17:57] And a reminder for the big fulfillment centers Amazon actually offers tours you can sign up and get a tour I don't think they haven't seen them ever offer tours on any of the other formats but there are some bootleg videos out on the internet if you know where to look I'll see if I can find some for the show notes that that show like like one of the general contractors that builds these facilities put some videos on their website of, of the finished facilities before they open. Scot: [18:28] Yep so that's kind of the retail business let's mix it up usually I cover third party but let's kick it over you to run through them. Jason: [18:37] Yeah are you okay with me talking about marketplaces I feel like as a Hall of Fame member you you this is like when mess a wet the other guy take the penalty kick. Scot: [18:45] I'm an auto guy now I don't know what this what is a 3 P3 what are the three p's. Jason: [18:51] Yeah so another milestone for Amazon's Marketplace. They hit a new high for the percentage of their total sales that came from third parties so the mix is now 60% third parties 40% first party so that that's continuing along long-standing trend. The third party is continuing to grow and being the most important part of the. The assortment makes at Amazon I don't have the number in front of me but my memory is that the. The growth in 3p Services was actually faster than the retail growth as well so sort of implies that the volume went up but also Amazons. Doing even better at collecting more fees from all those three p providers so that the marketplace continues to be robust and important. You know one that always gets a lot of the energy on these earnings calls is a WS and there's kind of an interesting story going going on so so first of all, the the Wall Street expectation was for AWS to grow eight percent this quarter and they announced that a WS grew 12% so. Massive beat from that perspective. Um and so then you go well is 12% good growth well a year ago they were growing at like 33 percent so twelve percent doesn't sound all that impressive compared to 33 percent. But what you have to remember is. [20:20] The rate of growth has been significantly slowing down quarter after quarter and last quarter q1. [20:27] That growth was 16 percent and when they announced that growth was 16%, they really put dosed a bunch of cold water on investors because they said and we already have a month of data since the end of that quarter and it's slowed down more since then so I think that really is what spooked. The the investor community and that's where that sort of 8% expectation came from so 12 percent growth is kind of an indication that the growth rate although you know swelling down is stabilizing. Um and I think they're they don't give guidance on these individual segments but they. Made a nod to the fact that we're probably not going to see the growth rate slowed down dramatically from this, they do pay a lot of lip service to the fact that, it's a very big number and you can't grow in double digits anymore by just getting organic growth that like in order to, continue to grow double digits you need to acquire a lot of net new customers and you need to acquire a lot of net new workloads, but the good news is you know they have a very robust narrative about why there are a lot of customers and additional workloads to acquire and spoiler alert. You know a huge amount of them are related to generative Ai and a large language models where. [21:54] Amazon is investing a lot in things a lot of the future is going to be in these these three hosted layers of AI services that companies use to build AI Solutions on top. [22:06] So so you know I think their sales focus is going to be is less about getting more money from existing customers and more about getting. New customers and new workloads on a go-forward basis for a WS, um I do want to say you add up the numbers for AWS and it's 88 billion dollar a year business that's the Run rate right now. And they make about 25 percent gross margin on that business so that that 88 billion dollar business is spinning off 21 billion dollars a year in profit. And everyone always talks about how AWS is by far the most profitable business at Amazon so keep that 21 billion dollar number in the back of your head because the next segment that Amazon talked about is ads, and while AWS is growing at 12% they announced that the ad business is growing at 22 percent. Um so that puts, the the ad business at like a 41 42 billion dollar run rate. And that the speculation is that the ad business is about a 75% gross margin. Business and so if they're at a 41 billion dollar run rate that means they're spinning off 30 billion dollars in profit. [23:25] For the ads business so Thirty 1 billion dollars in earning come from ads versus 22 billion dollars in. Or 21 billion dollars in profit from AWS so. Quit talking about a WS being the most profitable business than Amazon ads is the most profitable business and is growing almost twice as fast. And there's another of my favorite facts about that ad business is. You know so again they're selling 44 billion dollars worth of ads you know where they get all the eyeballs that they they have to sell those ads. [24:03] Buy them from Google for 20 billion dollars. So so here's like an awesome business, the Amazon is one of the largest advertisers in the world they spend twenty billion dollars I'm sorry 22 billion dollars on ads to get people to come to all their services, and consume them for profit right so, so you run ads and you get people to buy stuff on Amazon you run ads and you get people to sign up for AWS you run ads and you get people to sign up for Amazon Prime Those ads do all this heavy lifting for all these different business units and then after you've monetize that, that a dollar you then sell that ad dollar back for a profit through this ad business so you want to talk about the network effect and how powerful it is this to me is just an an awesome example of business engineering and you know I think. Often misunderstood aspect of the Amazon profit machine. Scot: [25:01] Yes pretty amazing quarter for ads the they're just really Trout's snap used to be in the conversation and Twitter and it's really just Facebook Google and it was on it. Jason: [25:11] I mean Amazon's a much bigger ad business than Microsoft and Bing. Scot: [25:15] Absolutely another tidbit from the call we had talked about this and if you remember we had we had a guest on from Guardian baseball and he was talking about this was right one by with prime came out and you were super skeptical that anyone would adopt. Jason: [25:35] Yeah and what should you do anytime I'm skeptical about a new idea. Scot: [25:39] Go long on it go. Jason: [25:40] Invest in it. Scot: [25:41] Yeah. So first of all I saw a tweet earlier and this is from everyone's favorite follow bearded egg F ba and a couple other people had similar tweets but he actually had used the software that scrapes all these websites, and he reported there's over 2,200 sites that now have by with Prime and then jassi's comments he said quote, merchants in early trials use by both Prime saw their Shopper conversion increased 25% on average which makes a real difference in their business Merchants who participated in Prime Day activities, experience 10x increase in Daily by with prime orders, so there was a knock on effect that if you had by the Prime on your website then people found you and and rattled over and you saw a really nice kind of ripple effect from the prime day efforts I thought that was an interesting tidbit so they're like like everything Amazon and I haven't followed the features but I'm sure if you remember Matt was complaining that you couldn't turn it on and off for certain excuse there was some feedback he had and maybe it didn't work with attributes like a parent-child skews I'm sure they fix all that or else it wouldn't be on this mini website so it sounds like that's really getting some some traction. Jason: [27:00] Yeah I do I still think. To cite Lira but my double down on my earlier skepticism there still are some rough edges to the customer experience right so it still is a purse Q experience which is a little weird like you know some products on the on the website you can get fast shipping for and some, some products you can't and it's hard to know what they are until you put them in your cart so that's kind of the the old shop Runner. [27:32] For if you will but I do want to say two things both Amazon and Shopify are leaning into these, conversion rates way better when you have by with Prime on your website or when you have shop pay on your website and you know you have to ask yourself what they're comparing that to write because, it should surprise no one that conversion rate when the customer has stored payment information available is much higher than when they don't have stored payment information so the magic question is if you already had shop, pay and PayPal on your site and then you added by with prime did by with prime perform 25% better than PayPal. Um or are they only saying by with prime prefer performs better than nothing because performing better than nothing isn't, quite as impressive in my book and I do want to say well well they are making progress with by with Prime and the 2500, Merchants is impressive just a reminder there's 2.5 million merchants on Amazon so the fact that 2,500 of them are using it you know does not exactly mean it's caught fire. Scot: [28:44] So still skeptical. Jason: [28:46] Yes so again what should you do go double down on the go along. Scot: [28:49] Short Amazon Jason you short Amazon I'll go alone. Jason: [28:54] Yeah that. Scot: [28:55] Prime is not going to work thesis and I'll go on. Jason: [28:58] Yes I don't I don't think you're giving me helpful investment advice. So that was all the main stuff I saw in the earnings calls was there anything else you wanted to cover because I think there is a few other tidbits of Amazon news. Scot: [29:15] I saw Grocery and I had a feeling that your ears were too perked up I I fell asleep during that part so I'll kick it over to you. Jason: [29:21] Oh my god do you not eat. Scot: [29:23] I do but groceries is everyone's least favorite chore. Jason: [29:28] Scot doesn't want to say it but he has people that get his groceries for him that's what's going on here he hasn't been to a grocery store in like 10 years. Scot: [29:35] Every every meal is from Chick-fil-A so I don't have to go through. Jason: [29:37] That seems like it would be a pretty fun for a little while but I have a feeling that the there would wear off, so yes Scott you are right I'm super interested in grocery groceries 25 percent of all retail spending it's the biggest category of spending that Amazon hasn't won, I think it was about 40 years ago that they acquired Whole Foods do I have that right was it 40 years ago. Scot: [30:03] 49 Jason: [30:05] I'm exaggerating I was over 10 years ago now though. That they bought at Whole Foods and hopefully just kind of flat since they acquired them it really hasn't you know turned in anything a reminder Whole Foods is very niche in the grocery space like Whole Foods doesn't sell Coke they don't sell Fritos, um and they're only in a handful of big cities so there the the industry leader in organic produce but they're not a mainstream. And one of the things so Amazon made a bunch of announcements that they were retooling their grocery experience and changing some of their offerings. Two days before the earnings call. And I'll come back to what those announcements were but on the earnings call Andy answered some questions about Grocery and he kind of admitted something interesting, Amazon is doing very well at what Amazon usually calls everyday essentials. And I think the Brian the CFO call that non-climate controlled Goods right so all these shelf-stable things that you tend to buy from a grocery store but you don't actually eat. Um Amazon's pretty good at selling and growing fast and they have a big chunk of that business they are not good at selling. [31:21] Perishables they're not good at Selling climate-controlled Stuff they're not good at selling fresh food online. Um and what Andy said in answer to one of the analysts questions was, to really meaningfully capture sharing grocery you have to have a broad offering in all the areas of grocery not just the everyday essentials and we don't believe you can win. With a broad assortment of groceries without a national footprint of stores. [31:53] So you know he kind of conceded that the Fulfillment center model and the multi-tiered regional Warehouse model that Amazon is building out. Is not particularly well suited for the grocery mix and so he said so you know we need to figure out a grocery, and we kind of concluded what we've rolled out over the last few years at Amazon Fresh is not a winning grocery concept so we put we put a hold on growth, we went back to the drawing board we invented a bunch of new experiences and now we're testing those new experiences to see if they are, more appealing to Consumers so the First Market to get these new experiences is Chicago so they just remodeled the the Amazon Fresh stores here in Chicago I'm going to go visit one soon. But they've essentially they've changed the assortment quite a bit they've added more private label and they've added more National brands for a grocery store Amazon Fresh doors were really kind of a limited assortment grocery store and so it sounds like. [32:56] They're moving they didn't say numbers but in my mind, they were like a twelve thousand SQ grocer and Kroger is like a 20,000 SQ grocer so they're there it sounds like they're moving up to that 20,000 skus. [33:10] And they're testing a bunch of new amenities, and one of the big problems you have in grocery especially when consumers are being really cost-conscious is consumers walk into a grocery store with a budget and they want to make sure they don't overspend that budget. And just walk out grocery stores you actually don't find out how much you spent until 15 minutes after you've left the store. [33:35] Which is an awful experience if you're trying to make sure you stay under 100 dollars. And so one of the amenities they've rolled out is on these Dash cards these digital cards that they let you use in the store they now have a real time running total of what's in your cart so for the first time you can see. [33:53] You know how much you spent so there's a bunch of experiences like that I'll get a better feel for what the new ones are. When I go visit but they're starting to Pilot new grocery Concepts and they're you know they've kind of conceded that they need to scale one of these brick-and-mortar Concepts nationally before they can really be a. A meaningful winner in the digital grocery space. But they made a couple other big changes in grocery to one of the biggest complaints and one of the stupidest things about Amazon's grocery is before you shop for groceries in Amazon you need to get an org chart and understand how Amazon's organized because, you have to decide in advance if you're shopping online at Whole Foods or Amazon Fresh and guess what most customers don't understand the distinction between those two things, and so they had separate carts you actually have three cards on the Amazon website you have a general merchandise Encarta gross Amazon Fresh cart and a Whole Foods car, and it can be really confusing because you just click add to cart on a bunch of stuff and then you go look at your cart and it's not there because it's in one of the other car. So they announced that they're moving to a universal cart. I haven't seen it yet so I can't speak to exactly what it looks like I have a few a name mean a universal grocery cart I don't think they're actually going to mix it in with general merchandise but. [35:11] Will be eager to see that and then the other announcement they made that is I'm not I mean I just don't think it's as big a deal is, um they have opened up grocery delivery from Amazon Fresh to non-prime members so so prior to this week you had to be a prompt Amazon prime number to order from from Amazon Fresh. And this is kind of interesting because this is a further erosion of Amazon Prime benefits you used to get free delivery, um with Amazon Prime for groceries and about a year ago Amazon caved to try to get more profit, and they added a delivery fee even if you're a Prime member but they said you can only get delivery of your Prime member now they're they're taking that benefit off the scale and I just point that out because. Amazon's ordinarily so good at adding new benefits to Prime is kind of rare to see them taking benefits away from Prime so I think that's interesting in the. The grocery space anything else that I missed or the jumped out at you about grocery Scott. Scot: [36:13] No I thought it was you know. A lot of people would expect him to throw in the towel because they've closed some of these physical store experiments and Jesse did that but they still seem committed to grocery at least the four star or what was that start. Jason: [36:30] Yeah five star. Scot: [36:31] Faster that is the closed all those right. And the trimming back the just walk out stores so it's interesting to see that there they they see something in grocery or it's just such a big tan they feel like they have to obviously they have Whole Foods but. Jason: [36:50] Yeah I do think it's one of one of their big bets and it was interesting like in some of the narrative Andy kind of he threw something at the grocery teams under the bus. You know like a lot of his complaints about the Amazon Fresh stores is he's like we just weren't good grocery operators that like are. Our inputs as he called it just weren't good like the the inventory turns the, you know the inventory waste the labor cost that you know all those things weren't where they needed to be to be a competitive grocery store and there's I'm sure a lot of traditional grocers that were listening to this call going amen Andy we told you groceries are really brutal, difficult Cutthroat business and you won't find it as easy as some of the other businesses you've dominated so, I still want to bet against Amazon I still think they're ultimately going to be a big player in grocery but. [37:53] And then one other to me really interesting tidbit is Healthcare that Amazon announced last week a new National Healthcare offering which is telemedicine. Um service and that's attached to Amazon Pharmacy. Um so this used to be an in-house experiment that they use to provide health benefits to a bunch of Amazon employees but and then they started offering it to. You know a few other employers that they had Healthcare agreements with, but now they've made it a national authoring that's available to everyone so you know if you if you need some prescription or you need some some medical advice and you don't want to go in and see a doctor you can't get an appointment. You can you do now use this Amazon Health Service to get a fast and easy. Um Health Care visit so you know we know Amazon has been kind of. Kicking the tires on the healthcare industry and they've had a couple initiatives they had some Partnerships that they walked away from, but there's another one where it seems like they haven't given up on the space and they're still you know rolling out and trying new things. Scot: [39:08] Yeah and I hope they nail this because my my experience with the physical drugstores always terrible. Jason: [39:17] Yeah I am not bullish on physical drug stores so again. You you know oil listeners now know what they should do for the investment there but like. You know the drug business used to be a retail business you walked into a pharmacy and you got all your prescriptions today the insurance companies mostly try to force you to use mail order. Pharmacy said the main reason people had to go to. Pharmacies has kind of gone away and as a retailer if you don't have to go there to get a farm prescription filled. The retail drug stores are awful retailers like they, you know they don't have a good assortment they don't have a good prize they're they're deficient in digital in and if you watch all the moves they're making, the thing that every retail drugstore is trying to do more than anything else is get out of retail and become a Healthcare company and own an insurance. So you know a lot of the CEOs of these companies now come from the insurance sides of the business and it it just doesn't seem like. The long-term future of us retail is to have you know multiple big National drug stores because the model is kind of waning. Scot: [40:28] Yeah yeah we'll I'll shut a small tear when they all go out of business and I can get things more efficient. Jason: [40:36] Yeah I think at least one is going to have to survive because there are a lot of impromptu emergency get it right now kind of kind of needs but you know maybe down the road we'll do a grocery in Pharmacy Deep dive. Scot: [40:50] Or Amazon will have things so close to you can get it in 15 minutes so you won't miss it. Jason: [40:55] Yeah you know one thing I will say like I thought you were going to say I won't feel bad if Amazon sells this because Healthcare in America. Royally screwed and a lot of people you know don't have in can't afford access to it so certainly it would be good if they fix that I will say Amazon rule that a service similar to a Walmart service which is really beneficial, they're now offering generic versions of most chronic prescriptions for a flat five dollar fee and so one thing that has approved a lot in the United States in the last two years. Between Walmart and Amazon and actually like a big startup that Mark Cuban is running is a lot of these. You know prescriptions that were Out Of Reach for a lot of low-income people are becoming more affordable which is certainly a good thing. Scot: [41:40] Yeah yeah we'll take care of them but I'd need my experience you better too. Jason: [41:44] See how I found a way to end the show on a happy note. Scot: [41:47] Yeah World Peace. Jason: [41:50] Yeah and that you know last week we had a slightly shorter show and listeners told this they loved getting a little bit less of us and so miraculously we have done it again we brought in a voluminous Amazon earnings call in a pithy 41 minutes, so if you'd like to reward us for our brevity the best way to do that would be to jump on iTunes and give us that five-star review. Scot: [42:14] Thanks everyone we hope you enjoyed this Amazon Q2 earnings results and until next time. Jason: [42:21] Happy Commercing.

Esta semana, dedicamos una nueva sesión de Rebelión Sónica, a la influyente banda alemana Can, en primer lugar, con material de “Live In Brighton 1975”, el segundo volumen de la serie de registros en vivo, “The Can Live Series”. Sucesor de “Live In Stuttgart 1975”, editado en mayo de 2021, este segundo lanzamiento llegó el 03 de diciembre de ese mismo año a través de los sellos Mute y Spoon. El documento captura el concierto íntegro que el cuarteto central que conformó el grupo, con Jaki Liebezeit en batería, Michael Karoli en guitarra, Holger Czukay en bajo e Irmin Schmidt en teclados, dio en la ciudad inglesa que le da el nombre al álbum. El experto Kris Needs describe la música “como una delirante montaña rusa astral, una plataforma de lanzamiento, una partícula distante llena de melodías fugaces, líneas vocales y ritmos que surgen como fantasmas iridiscentes y que luego se evaporaron cuando el espíritu los lleva a otro lugar”. Luego, en la segunda parte del programa, nos concentramos en material en estudio de los pioneros krautrock, específicamente con música de dos de sus discos tardíos: “Saw Delight” de 1977 y “Out Of Reach” de 1978. Como es tradición, Rebelión Sónica se transmite por radio Rockaxis los miércoles a las 10, 17 y 23 horas -se repite los domingos a las 19-, con la conducción de Héctor Aravena.

Sintonía: "Pnoom". "Pauper's Daughter And I", "Give Me No Roses", "Like Inobe God" y "One More Day", extraídas del álbum "Out Of Reach" (1978). "All Gates Open", "Sunday Jam", "A Spectacle" y "Can Be", extraídas del álbum "CAN" (1979). "Nineteen Century Man" y "Little Star Of Bethlehem", extraídas de la recopilación de material inédito "Delay 68" (1981). Todas las músicas compuestas e interpretadas por CAN. Escuchar audio

Thank you for listening to the 17th episode of Entel Radio. I'm very excited to present another Progressive & Melodic House fueled mix. If you like what you hear, follow along on the journey below. Website: https://www.entelmusic.net/ Instagram: https://www.instagram.com/ Spotify: https://open.spotify.com/artist/7GGwx6zEvL8TPiU4lP7bwa?si=1I09y2dmS6miQ4cEukvuEQ Apple Music: https://music.apple.com/us/artist/entel/948443560 Twitter: https://twitter.com/Entel_Music Facebook: https://www.facebook.com/EntelMusic Tracklist: https://www.1001tracklists.com/tracklist/15klp6jk/entel-entel-radio-ep-017-2021-07-02.html Tracklist: 1. Stardust - Entel 2. Solaris - Simon Doty 3. Rapture - Kryder & Natalie Shay 4. Player - Stylo & Space Motion 5. Driving Seat - Felon 6. The First Time - Dirty South 7. ID - Entel 8. Out Of Reach ft Sansa - Cristoph & Yotto 9. Karttikeya (Atribút Remix)- Bach Wrecker & Lugubre 10. Lost - Tinlicker & Run Rivers 11. Love Tonight (Vintage Culture, Kiko Franco Remix) - Shouse 12. Flux - Josep 13. Evade - Jeremy Olander 14. Genesis - Erik Lucas & Frank Bono 15. Enigmatic - Jordan Gill 16. Oasis - Nors Kode & SQU4RE 17. ID - Entel

Fabuloso disco recopilatorio de Discos Columbia, de 1972. Empezamos a repasarlo el viernes; hoy nos ocupa todo el programa y lo terminaremos mañana. Es el mejor de la serie. Consta principalmente de artistas de la Escuela Británica de Blues, con algún añadido. Os pongo copia original española analógica que suena de forma extraordinaria. V.A. – BLUES & ROCK Decca – DCS 15020/21 España 1972 Lista de canciones A4 John Mayall & The Bluesbreakers & Peter Green– Greeny 3:53 A5 Champion Jack Dupree & Mickey "Guitar" Baker– Barrelhouse Woman 2:01 B1 Eddie Boyd– Blue Coat Man 2:30 B2 John Mayall & The Bluesbreakers & Peter Green– Out Of Reach 4:41 B3 Champion Jack Dupree & Mickey "Guitar" Baker– I Feel Like A Millionaire 2:43 B4 Savoy Brown– Someday People 4:31 B5 Ten Years After– Feel It For Me 2:40 C1 East Of Eden– Jig-A-Jig 3:38 C2 Savoy Brown– Poor Girl 5:20 C3 Warren Phillips And The Rockets– Blues Suede Shoes 2:20 C4 Frijid Pink– Sloony 3:35 C5 The Moody Blues– Go Now 3:14 C6 Ten Years After– I'm Going Home 4:15 D1 Frijid Pink– Sing A Song For Freedom 3:00 D2 Amen Corner– Good Times 2:52 D3 Warren Philips & The Rockets– Be-Bop-A-Lula 2:18 D4 The Keef Hartley Band– The Time Is Near 7:45 Mañana terminaremos este doble elepé y recuperaré "Esto es Rock and Roll" de Liberty 1968 que quedó pendiente hace unos meses. Escuchar audio

Fabuloso disco recopilatorio de Discos Columbia, de 1972. Empezamos a repasarlo el viernes; hoy nos ocupa todo el programa y lo terminaremos mañana. Es el mejor de la serie. Consta principalmente de artistas de la Escuela Británica de Blues, con algún añadido. Os pongo copia original española analógica que suena de forma extraordinaria. V.A. – BLUES & ROCK Decca – DCS 15020/21 España 1972 Lista de canciones A4 John Mayall & The Bluesbreakers & Peter Green– Greeny 3:53 A5 Champion Jack Dupree & Mickey "Guitar" Baker– Barrelhouse Woman 2:01 B1 Eddie Boyd– Blue Coat Man 2:30 B2 John Mayall & The Bluesbreakers & Peter Green– Out Of Reach 4:41 B3 Champion Jack Dupree & Mickey "Guitar" Baker– I Feel Like A Millionaire 2:43 B4 Savoy Brown– Someday People 4:31 B5 Ten Years After– Feel It For Me 2:40 C1 East Of Eden– Jig-A-Jig 3:38 C2 Savoy Brown– Poor Girl 5:20 C3 Warren Phillips And The Rockets– Blues Suede Shoes 2:20 C4 Frijid Pink– Sloony 3:35 C5 The Moody Blues– Go Now 3:14 C6 Ten Years After– I'm Going Home 4:15 D1 Frijid Pink– Sing A Song For Freedom 3:00 D2 Amen Corner– Good Times 2:52 D3 Warren Philips & The Rockets– Be-Bop-A-Lula 2:18 D4 The Keef Hartley Band– The Time Is Near 7:45 Mañana terminaremos este doble elepé y recuperaré "Esto es Rock and Roll" de Liberty 1968 que quedó pendiente hace unos meses. Escuchar audio

I had a fun month of talking to guests and listening to new music so I get in to all that and more on this months rundown! Also new music from Sincere Engineer, Radical Radical & Tigers Jaw plus music news from Mighty Mighty Bosstones, Tom Delonge and Walter Lure.Check out the Power Chord Hour radio show every Friday night at 10 est on 107.9 WRFA in Jamestown, NY, stream the station online at wrfalp.com/streaming/ or listen on the WRFA mobile appRate & review the podcast - send us a screenshot for a free PCH shirt!email me for FREE Power Chord Hour stickers - powerchordhour@gmail.comFacebook - www.facebook.com/powerchordhourInstagram - www.instagram.com/powerchordhour/Twitter - www.twitter.com/powerchordhour/Youtube - www.youtube.com/channel/UC6jTfzjB3-mzmWM-51c8LggSpotify - https://open.spotify.com/user/kzavhk5ghelpnthfby9o41gnr?si=4WvOdgAmSsKoswf_HTh_MgNEW MUSIC!Tigers Jaw - https://tigersjaw.bandcamp.com/album/i-wont-care-how-you-remember-meSincere Engineer - https://sincereengineer.bandcamp.com/track/out-of-reachRadical Radical - spotify.com/album/0SXBPF40QbtKamZztYS1pw

"Going down in The Listening Booth is blues with Menahan Street Band, some light electro via Couch Prints, and alt country Thunder Jackson. DJRePete also dives into the genre-range of new albums by Kyle Edward Connolly and The Weather Station with a few non-consecutive blocs. And he checks in with creative performances in the times of pandemic via Albertine Sarges and Pearl Charles. Plus, hit up info on an optimistic fall tour planned for the UK for the new Maximo Park record. 00:00 - Mic Break 01:11 - Roller Coaster - Albertine Sarges 05:50 - Strange Life - X 08:21 - Nothing Without You - Cloud Nothings 11:38 - Little Backwards Glance - Glitterer 12:53 - Party Of My Making - Maximo Park 16:53 - The Acid Remark - Maximo Park 20:21 - Mic Break 21:29 - Hope - Arlo Parks 25:50 - Love X INEZ - INEZ 28:29 - Atlantic - The Weather Station 32:15 - What I Need - Pearl Charles 35:33 - Mutual Friend - Henry Grant 38:08 - Writ In Water - James Houlahan 41:39 - Guilty Party - Thunder Jackson 44:46 - Quick Thought - Kyle Edward Connolly 47:23 - Mic Break 48:14 - Swinging Planet X - The Fleshtones 50:57 - Somerset Morning - The Fleshtones 53:34 - Ground Me - Sam Newton 56:32 - Far, Far Away - Bodies of Water 59:53 - Women in Love - Bodies of Water 63:45 - Coming Through - Kyle Edward Connolly 64:49 - The Fool - Brigid Dawson And The Mothers Network 68:48 - Sixth Hammer - The Budos Band 71:42 - The Starchaser - Menahan Street Band 74:21 - Rainy Day Lady - Menahan Street Band 77:36 - Mic Break 78:06 - Moonlight Parade - Jonas Carping 82:31 - Out Of Reach 1 - Jonas Carping 86:59 - Hangman - PACKS 89:16 - I Know You're Wrong - Another Michael 91:15 - Renaissance Man - Bill Jr. Jr. 95:53 - Alice - Haley K Turner 99:10 - Mic Break 99:27 - The Earthquake - The Planes 102:38 - Tried To Tell You - The Weather Station 106:10 - Everything I Had - Sun June 110:06 - The Mechanic - Kinlaw 113:24 - 510s - Small Sins 117:03 - Tell U - Couch Prints 121:12 - Mic Break 121:46 - F***You - Jordana 124:55 - Finish "

Rediffusion de l'épisode du 28 août 2020 - C'était les vacances d'été mais vous pouvez appliquer certains aspects aux vacances des fêtes de fin d'année! L'objectif de cet épisode est de travailler la compréhension orale et de vous préparez pour des questions de production écrite ou orale des examens de français. Sujets: tourisme, bien-être Un objectif secondaire est de vous convaincre de faire des pauses régulièrement :) Notez les idées qui vous intéressent, celles avec lesquelles vous êtes d'accord ou pas d'accord. Téléchargez la transcription et la fiche pour développer votre vocabulaire. Je vous parle de : pourquoi il est nécessaire de prendre de vraies pauses où l'on ne fait rien plusieurs tendances populaires pour les vacances (déconnexion, volontourisme, micro-expériences) sources: Cerveau et silence, Michel Le Van Quyen (2017) Podcast “Travail en cours”: “Déconnexion : pourquoi votre cerveau a besoin de silence pour se régénérer Forbes 20/05/2019, Out Of Reach, La Start-Up Qui A Fait De La Déconnexion Numérique Le Nouveau Chic La Source, 9/03/2015, Bénévolat : les dessous d'un business controversé --- Support this podcast: https://anchor.fm/mypolyglotlife/support

Act One Podcast - Episode 09 - Interview with author, Carrie Arcos. Carrie Arcos was born in Albany, NY. She studied English and Philosophy at Gordon College and received her teaching credential through Chapman University and her MA in Creative Writing from California State University Los Angeles. A teacher of high school and college students for years, she finally had the courage to pursue her own writing after the birth of her third child. It's never too late or the perfect time to chase after your dream. Her debut novel, Out of Reach, published to critical acclaim and ended up being a National Book Award finalist that year. Since then, she has continued to write books for young adults. Her latest novel, Skywatchers, is a thrilling, genre-bending mystery about the history of the Cold War and the UFO phenomenon. The book was recently optioned by a major production company to develop it into a feature film. Thank you to all the readers, librarians and booksellers that help get her books out into the world. Currently she lives in Los Angeles with her husband David and their three children. Learn more at www.carriearcos.com.The Act One Podcast provides insight and inspiration about the business and craft of Hollywood from a Christian perspective.Support the show (https://actoneprogram.com/donate/)

Sometimes in life everything falls apart. It can look like in one moment that we're about to have it all and then the next we have less than nothing living on the street. We can feel that we're not worthy to have that Divine Connection and that divine Spark just seems so far Out Of Reach, but in those moments I need you to know that you are so worthy of all of that and so much more --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/reutntoEden/message Support this podcast: https://anchor.fm/reutntoEden/support

EP244 - Upfront Ventures Greg Bettinelli Greg Bettinelli (@gregbettinelli) is a partner at Upfront Ventures. Greg was previously the CMO for LA-based HauteLook, a leading online flash-sale retailer (acquired by Nordstrom). Upfronts portfolio includes ThredUp, Parachute Home, Adore Me, Skylar, Verishop Goat, Happy Returns, Invia Robotics, ChowNow, Verishop and in transportation Fair, Bird, and SureSale. We discuss DNVBs, Marketplaces, Shipageddon, and much more. Don’t forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 244 of the Jason & Scot show was recorded live on Thursday, October 28th 2020. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:24] Welcome to the Jason and Scott show this is episode 244 being recorded on Wednesday October 28th 2020 I’m your host Jason retailgeek Goldberg and as usual I’m here with your co-host Scot Wingo. Scot: [0:40] Hey Jason and welcome back Jason Scott showed listeners we are recording this days before Halloween, and also the release of the next season 2 of the Mandalorian so unfortunately on the podcast you can’t see it but Jason is wearing full Mandalorian gear for this episode so that’s exciting. And since since it’s coming up on Halloween and we’re heading into the busy holiday season. And before we get into that chaos we thought it would be good to go up to 30,000 feet for a little bit and look around and have someone here on the show help us think about some of the bigger trends, around digital and e-commerce from the West Coast so we’re really excited to have on the show Greg bettinelli he is partner at upfront Ventures, upfront portfolio includes this is just a small sampling, some Brands I think you’ll recognize such as thredup parachute home Adore Me Skylar Vera shop goat happy returns in Via robotics Channel Vera shop, I said that one twice so that that. Jason: [1:45] You can tell which is Scott’s favorite. Scot: [1:47] Yeah yeah shout out to Imran and then and then little gratuitous plug for some of the transportation Investments Fair bird and sure sale Greg welcome to the show. Greg: [1:59] Hey guys great to be here appreciate the invite I sure hope the first 243 guests were average and I will come over the top and we’ll have a great discussion. Jason: [2:08] Yeah we feel like those 243 rehearsals are going to pay off tonight. Greg: [2:12] Exactly I’ve been practicing that listen to it a lot. Jason: [2:15] Yeah well you know Greg one of the things we learned from those shows is the guest always like to be grounded a little bit in the background of our guests so can you introduce yourself and maybe talk to us about how you came into your current role. Greg: [2:28] Yeah absolutely and Scott and I go way back from early days at eBay or was called mid-years at eBay but it’s really where I got my start in and around e-commerce and marketplaces I join. EBay in early 2003 which is really the second wave of eBay when auctions were at its peak. [2:51] And anyway I had some pretty exciting roles and it’s what I think is some interesting things and so back then we had a very robust category management team and the North America business. And I was lucky enough to really the one of the first people at eBay to recognize. A lot of interest in categories like ticketing I also ran the entertainment business eBay which back then we sold DVDs and textbooks and video games on top of entertainment memorabilia and things like that, it also played a big role in what we did with sports whether it was on the collectible side on the, the jersey and apparel side and so got to really work with some interesting businesses there but I was I was at eBay for 5 years and all everyone really knows me for is the guy who said we should buy StubHub. And we bought StubHub for I think about 285 million dollars in 2007. And as you both know eBay just sold that business for four billion dollars about a month before the pandemic which turned out to be the greatest transaction of all time, because now I love that brand I’m not sure it’s a great time to be in the ticketing business but from there from eBay I spent some time in StubHub. [4:06] And eventually moved down to Los Angeles I have been in the Bay area for a while and went to work for a company called Live Nation for period of time, whereas on the executive team recruiter at eBay to kind of help build a competitor to Ticket Master of all things. And if you go back into 2008 2009 the economy first in 2009 was not great and Ticketmaster and Live Nation ended up merging, which was not a place I wanted to be having spent most of my career at eBay competing against Ticketmaster and and candidly receiving a lot of cease and desist letters from Ticketmaster, for the work we were doing it either in StubHub it was not something for me so I ended up leaving and, I went to a that point a very young company in Los Angeles called HauteLook, which was a fashion e-commerce business more of an island online sample sale business at that time there was a couple companies similar to us Gil group Andrew Lala in particular and eventually Zulily which ended up being the best of the bunch. But I was a chief marketing officer at HauteLook and was there for two years. I’m actually before we sold the business to Nordstrom for about 300 million dollars. [5:18] I like to call it a you know it’s a solid RBI double it was a great outcome in a short period of time and very good for me personally and professionally, but also helped me you know I had a couple of years left of my best staying post that acquisition so I was able to spend a lot of time working with the Nordstrom team. Thinking about what they were doing around e-commerce what they were doing on mobile in particular and what to do with kind of the full price and off-price brand so I was I was there through 2013 and then eventually left in 2013 and, made my way into Venture Capital because everybody wants to be a venture capitalist because it’s super easy and so I hopped on board in 2013 if you go back, there wasn’t a lot going on in Los Angeles at that time and K a little bit before and. I knew there was you know huge opportunities having spent time in Silicon Valley, but also making home Los Angeles it’s where the most creative people in the world live. [6:17] We’re very powerful on things like Commerce and communication and content and Community you know companies now we think about like Snapchat which is now 40 billion dollar company, companies like good RX which is a 20 billion dollar company companies like Riot games which is a leader that the maker of League of lemon Legion League of Legends, a lot of super interesting things you know Tinder was invented in Los Angeles and I’ve always been Bullis almost Angeles and coin the phrase long Allah which is just a, assign that you know there’s a lot of exciting things happening in Los Angeles and I really bet my career that I could be a part of that ecosystem helping to fund new companies so I joined, from Ventures and for the past seven or so years I’ve been a series a investor and early-stage technology companies, I work in businesses from direct to Consumer businesses to marketplaces in managed marketplaces businesses marketing Services business is I do work around what I call Commerce Innovation so, identifying companies at the very earliest stage where they’re working to solve friction points that exist in Commerce. And it’s really I do other things as well like consumer fintech and the like but I edited my core I’m a Commerce guy. [7:36] And I’ve been doing that for a long time and enjoy it I have trade on certain instincts throughout consumer Behavior I recognized I think I can see around some corners and things that a lot of people in the marketplace can’t see, and I think I’ve done pretty well I don’t we as a firm we do broader investing upfront Ventures will probably look at us as the, the first or second check into a very early stage business that we do across a wide discipline of investment opportunities from software businesses to, Healthcare technology to food Tech and AG Tech in digital media but I do really over index on the Commerce. In consumer size of the investment opportunity. Jason: [8:16] And it’s fair to say that Commerce is the coolest part of the portfolio anyway right. Greg: [8:22] Yeah as far as you know I communicate to my partners for sure it’s definitely the thing that is easiest for coffee talk I’ve I’ve been very lucky, I always seem to work for companies that people know and have experienced before and you know it’s something I really like I can’t even remember the earliest days of eBay, where you would hear you know I could go to my Aunt Marilyn’s house for Thanksgiving and, I tell them I work at eBay and everyone there knows what eBay was in this is in the early 2000s and there aren’t a lot of jobs like that so I’ve always liked kind of being around and something about working more consumer and commerce plays, people have more understanding of what you do versus if you’re selling some enterprise software solution or something like that with you can’t explain to your Uncle George what it actually is. Jason: [9:08] I think my wife happened to ask who the guest was tonight and I was pointing out all the products around our household that you guys were in right so you. Greg: [9:18] Great anyone in any favorite any fan favorites or. Jason: [9:21] She’s actually a big fan of these ritual vitamins I feel like might be her her go-to you may have exited from that already I can’t remember oh oh. Greg: [9:29] No we haven’t but it’s part of. Jason: [9:32] Yeah you have you just don’t know it yet I’m just. Greg: [9:34] Yes yeah not that I am busy I know but that we were the first check into that business. And I had worked for a long time and just identifying these d2c direct consumer opportunities, which there was candidly no brand leadership with reoccurring purchasing characters. I like the same smart but it’s not that sophisticated but in categories like vitamins if I were to ask you to name the leading vitamin manufacturer you wouldn’t be able to do so because no consumer actually can, and at the same time there is replenishment and as you know with. Replenishment I especially things that you can put in a small box like those are very attractive e-commerce business High margins reoccurring and no Grand leadership. And so I’ve actually had a few of those and we as affirmative a few of those and it’s a simple strategy but I think it’s turned out to be pretty well. [10:27] I also have always think the thought about attacking categories where there’s only one brand leader and so you talked about Adore Me, you know they’re at the time that a dorm we started it was kind of Victoria’s Secret and that was it a door me does sells Intimates in in soft goods for women, and it tends to be when you’re competing against those single Brands who are leaders think of luxottica and worry Parker, you know they’re as vulnerable as most companies because they don’t think anyone’s coming up their heels and then a couple years later they wake up and you have a pretty big business in your hand so, you know like I said I don’t like to overthink things but there are some pretty compelling opportunities that I think. Jason: [11:06] Yeah yeah I think we also we do have some Adore Me products and parachute product there’s some bird scooters parked in front of my condo and I actually wanted to talk to you about that later but. I’m just I’m teasing yeah so that’s awesome and because you challenge me the largest vitamin manufacturer in the u.s. is aligner Healthcare products and they make private label vitamins for Walmart and Walgreens. Um yeah I’m the the one guy you probably don’t want to. But that that is all awesome and then I happened and I mean timing is everything but you’ve worked for a bunch of companies that were great while you were there but we’re not covid-19 very friendly to I feel like, the whole ticket and sporting goods and then it’s also not that fun to be selling apparel through a department store right about now. Greg: [11:56] No and it’s weird unless you’re in the off-price side which. Lisa has a now those stocks have you know if you look at TJX and Ross and Burlington. Their stocks are really only off 20 maybe 20% from the peak pre covid Peaks which is amazing. Considering they have zero e-commerce and I’m guessing they’re selling it 50 this 30 to 50 percent capacity freak event but I think there’s a big bet that the consumers are going to gravitate towards off price, long-term and most likely most of the department stores that we grew up with are going to be at a business with the. Jason: [12:33] Yeah yeah and there’s going to be a lot more inventory for those off price guys the you did mentioned how fabulous the StubHub timing was the opposite end of that might have been Burlington which decided to turn off its e-commerce site a month before covid-19. Greg: [12:47] Yeah do you really think they would have been able to handle the demand had they been live. Jason: [12:53] Hi Joe I mean it’s it just sounds funny and I do think it’s a mistake I think there’s a way to do digital for for off price and I think. Did digital is an important shopping amenity for off price so I think there’s I hated to see them pull back but economically I doubt it hurt him I don’t think they would have liked. Driven a lot of Revenue dollars and then in their space the unit economics of e-commerce are would be tricky. Greg: [13:23] Yeah well if you talk to the leadership teams that Ross Burlington obviously in TJX TJ Maxx Advanced TJ Maxx and Marshalls they don’t think e-commerce moves the needle for the, and they’ve already emphasized I think TJ Maxx is made Acquisitions they’ve hired good people who aren’t there anymore and their view is the return on capital is just better off. Putting money into stores and continue to perfect the buying experience but I did have my one of my good covid experiences was I was I think I was pretty early and I went on like we all won the hand sanitizer see I’m Journeys. And I pounded Dollar Tree online when they still had an online store and they had like a case of those two ounce bottles of hand sanitizer. And three weeks later I received my hand sanitizer actually 15 business days which as you know sounds like two weeks but it’s really three and that’s a marketing trick and yeah so that was my first and only time I’ve ever bought from a dollar store was in search of the hand sanitizer because I can find it anywhere else. Scot: [14:30] Yeah Amazon Prime has a spoiled whenever something takes more than 4 days you’re like you assume it’s just been lost forever. Greg: [14:36] Right exactly. Scot: [14:38] Dia so on The Upfront side you said you guys are one of the first checks in is that kind of give us like the little kind of the VC spilled are you is that like seed series a and in La vernacular and then like what’s kind of the average check size and where you guys how assets under management that kind of thing. Greg: [14:57] Yeah so look at us as I would say late seed to series a so our typical average first check is about 4 million dollars. And we are active lead investors so were most likely leading around, I’m taking a board seat really helping to formulate a company and be a truly added value investor. We will make out of a fund which right now we’re investing at about 400 million dollar fund it’s our sixth fund upfront 6, but will make 30 to 35 what we call platform Investments so those are lead Investments and unlike a lot of from we reserved a significant amount of capital for follow-on investment so use that for million-dollar example, if you do 4 times 30 that’s a hundred and twenty we have a 400 million-dollar fun so we’re clear reserving upwards of two thirds of our capital for follow-on and that’s both because look a lot of great companies take a long time to build. And in addition in our world who wanted to play Capital against our best companies over a long period of time so we like those we say back up the truck against companies that, do you need new capital for growth but we want to invest in those because they’re moving there’s an optimal time to wait for optimal opportunity for returns. So we really play in that space of you know it’s really maybe you know the late seed series a stage. Scot: [16:17] This is a little bit outside of our wheelhouse but I was kind of curious what you think so this may be a Silicon Valley thing so it was a big Trend in Silicon Valley to not go public for as long as possible going Publix evil and terrible and whatnot so so you had like uber and Airbnb these companies wait till they got to this really really big scale but then it seems like the pendulum has swung swinging really hard the other way where now we have this hole kind of spak craziness where a lot of the Silicon Valley guys are going out and getting these these vehicles that can take a company public through this kind of different way what’s your feeling about that that turn. Greg: [16:55] Yeah for sure especially like I think this pack is relevant to businesses by which there’s this perception that there’s this Robin Hood type of investor, so any company that a Robin Hood Trader would have heard of should be public right so DraftKings really started it, you know it’s Robin the technically hasn’t gone public yet but this so you’re seeing, a lot of conversation about more consumer type of transactional businesses I think the reason why this happening is nobody went public for a long time and so there was really just a dearth of opportunities to invest in fast-growing companies especially on the consumer side now the SAS businesses have been doing extremely well for a long period of time, and the public markets and those there are SPAC opportunities there but those have been, you know a lot of great performance right companies that have gone public over the past five years and candidly a tremendous amount of shareholder value created after their public just look at Shopify as like the great example right, is I think that went public at. $12 a share or something like that maybe we traded like 30 and now it’s over a thousand and that was only five years ago roughly so how many hundred you know a hundred plus billion dollars in value created as a public company. And so yeah so there are so that’s example yeah and I think look the reality is. The public markets are strong right now I think there was about a six-week period between March 12 in May first. [18:23] Where people were nervous I was nervous everybody was nervous a lot of our companies made very hard choices. [18:30] Around organizations around marketing spend and I think there was a sigh of relief I think it was prompted by the a lot of. The checks went out that money wasn’t all spent on rent it was spent and compelled a lot especially in the consumer side. I think it also enabled a recognition that software is eating the world as Marc Andreessen would say. And just the gravitation to anything that was you know. [18:58] Is code based or Commerce based that doesn’t doesn’t touch bricks and mortar or doesn’t touch Legacy businesses and I think the markets of just NASDAQ in particular just responded in the way and I think the public markets are now feeding that, I’m frenzy personally I hope it lasts forever it probably won’t, but I think you’re seeing that play out and even the companies that you know I think of like the Casper IPO as a use it example I think they even they are trading, where they were about to say it wasn’t an overwhelming successful IPO but you know they’re about where they were pre Koga. And so but there’s been a lot of you know I track all have although my on my iPhone all those companies from revolve to. Real real and posture Mart or not Poshmark Stitch fix and others and they’ve all you know. Bounce back 3 to 4X since even their lows which was usually no pain about April 1st or so but it’s been it’s been crazy for lack of a better term for sure. Scot: [20:01] Yeah I think that’s a good backdrop so you know I think it’s really interesting because as a VC what a lot of people probably don’t realize you know I think most people kind of think of shark tank is kind of their their their perspective and maybe you know, The Social Network kind of as how these work, but you guys have to your kind of betting on a 10-year forward basis right and that seems like it’s going to be tricky so I thought we’d hit on some of the themes where you have some clustering in your portfolio, one of the ones that you and I share is our love of marketplaces obviously you were at eBay and get to see the birth of one of the bigger Market places, um and then in your portfolio one of the ones that we wanted to talk about was goat, I am not a sneakerhead but but you know I love I love that category I think it’s really wild to watch what’s going on there so I wanted to get on that and then my favorite one that you have is some of my best investments have been Collectibles so, so I’m a comic book guy and Star Wars guy and you know if I compare those to even things like the Google IPO, the Collectibles Market has been just white-hot and its really accelerated during covid, I love rally because it allows me to look at it as an investment class thing and invest in Collectibles I normally wouldn’t and even some that would be you know Out Of Reach like. The first appearance of Spider-Man or something like that maybe maybe give listeners a rundown of rally with was that your investment apart. Greg: [21:30] Yep yep all those are mine let me try and put them all together because I think there’s you made a couple of points in you first talked about kind of time Horizons. [21:40] And like you know Venture Capital it takes a long time to build a great company. The reality is you know sometimes you get Super Lucky Nick everything goes up into the right but the reality is building businesses is extremely challenging and one thing I’ve learned in as an investor, it’s just the amount of work in, pride in everything that goes into these teams were both of these companies and for example I’m goat I think I wasn’t even at upfront Ventures when they team invested, in what the company that became goes I think we made our first investment in May of 2012 so we are now eight, and a half years into that investment can get some perspective and goat is about a four year four and a half year old business now, so they spent three and a half years Treading Water trying to find something that works, it was originally an app that was trying to connect people with like interests in physical setting so if you and I all like comic books. We would go and set up a dinner and we talked comic books and we didn’t know each other but we would build a community online Offline that we initiated online. And the reality is you know people don’t like to meet people they don’t know so it was a tough business. Scot: [23:02] Especially comic book collectors. Greg: [23:03] Right exactly yeah a little bit of an introverted crowd and so when I got to when I got to the front. That was kind of one of my first projects was hey we have this very talented team they just haven’t found product Market fit. And the story of and it’s been written about it it’s been but Eddie and Dyson who are the founders daishon was a sneakerhead. And when they were brainstorming ideas about what to do with the million dollars they have left in the bank. And I asked them how come there’s not StubHub for sneakers. [23:35] Because I as a consumer investor I spend time you know maybe not a covid world but Saturday mornings I have to go shopping and when there’s all these kids lined up outside a store on a Saturday morning. I want to know what’s going on inside there because that’s not normal whenever you see a cue that’s a signal of either something is very good or something is very bad but in the Venture world that means something is happening they need to pay attention to, and so from there was born goat which I didn’t even know what good stood for and when they said that’s what we’re naming the company, and they took some of their money which wasn’t a lot they bought a bunch of sneakers on eBay and Flight Club and put it in seed in the marketplace and I remember the first month of goat they might have done. You know thirty thousand dollars was the GM V and I you know I can’t say specifically but we’re doing north of a hundred million dollars a month in GMB now, and that wasn’t that long ago and we’re selling sneakers or they’re selling sneakers right and I think what’s interesting about that category is they had identified. [24:39] Two things one and this is an investment they might have is you look for areas where they’re very active communities, passion LED communities where people spend a lot of time and a lot of money but you catch them right before they go mainstream. And if you can catch especially the marketplace a a niche business like sneakers secondary Seekers but there’s a catalyst to it going mainstream and you become the market and for sneakers canele was, the release of the easy the Kanye West easy from Adidas. [25:10] Really Propel the secondary Market because they had an artificial shortage they purposely didn’t release a lot of sneakers and a lot of people wanted them and go was kind of the only place to go get it at the time other than eBay and as we’ve talked about our as I’ve talked about before, and while love eBay and I know a lot my career is owed to eBay I’ll compete against than any day. And that was just an example where this community was already existence and they were just looking for a well-lit playing field. Which is an expression we used to use it eBay all the time and they were looking for that and it provided and it turned out that the key to that category was, the perception of Fraud and that that type of customer or that kind of a buyer and seller didn’t trust each other, and so goat came in and said we’re going to guarantee authenticity in fact you send them to us we’ll make sure they’re real and we’ll send them, so this idea of a managed Marketplace and that was what responded but you know it kind of ties to Rally which is think of it as a stock market for Collectibles where, you can actually trade individual shares of an asset but both of those businesses rely on scarcity, scarcity is a very powerful thing consumers retirement respond as care consumers respond to scarcity businesses responded scarcity and if you have a space scarce asset, whether it’s Talent or a tangible good. [26:34] Markets go crazy and I think a lot of the great Marketplace businesses trade on scarcity and the commonality between tickets, between sneakers between streetwear and now Collectibles as you point is white hot, is there all scarce items again I’d not that smart but it’s obvious to me that when you have something that only there aren’t a lot of them and everybody wants them it’s a pretty good thing to trade, and so they The Coincidence around what’s happening with collectibles, is it was already happening pre covid but especially on the sports side there’s just a Nostalgia that developed in March, where I’m sure you all odds un’s with people in high school they hadn’t talked before and you’re spending a lot more time with text groups with your sister and your brother and your mom and your dad I think we just came back to recognize that simple things matter and when it comes to collectibles whether it’s comic books or baseball cards or. You know video games that we just felt it was our comfort zone it was our safe space and it felt good to be able to talk and trade about things that made us comfortable. And that was a key part of what happened. With Collectibles But the irony or okay it’s coincidence is I originally thought sneakers were the baseball card of gen Z. [27:52] And it turns out that baseball cards are relevant to gen Z and it’s actually basketball cards they’re not really into baseball cards but they’re definitely in the basketball cards and that has now created you know caught fire and it’s you know I think. [28:05] My guess is you know. [28:07] The collectible assets are training at two to three times what they were a year ago it’s now it’s now being determined as a you know an asset class and it suddenly becomes an asset class with rallies perspective. Is you know you can be the market maker for things that historically were illiquid and again back to the marketplace theme if you can make it liquid markets liquid, you can dramatically grow the addressable markets and if you can draw the addressable markets and you can get a piece of that growth from those markets and think of great Marketplace businesses, like eBay like uber like Airbnb every investor who passed on it will say the Tans were too small the total addressable markets were too small, eBay was how big is the pawnshop market right Airbnb is how big is the hotel Market boober was how big was the taxi murder. The reality is they all created substantially greater addressable markets because the marketplace enabled it StubHub was the same way you know how big is that market and you don’t ask those questions anymore because the secondary Market, has really become such a powerful thing in those markets and I think that’s what’s happened with sneakers and other categories. Scot: [29:15] If listeners get one thing from this hole 244 episodes that we’ve done go to your closets find your Pokemon cards and then if you have any of the NBA cards I think the isn’t it LeBron rookie cards are going for like 8 million, there’s a specific one yeah yeah. Greg: [29:33] Now specifically if you have your 1999 Pokemon cards and specifically there is one card I think it’s the Charizard is a how you say I don’t know my Pokemon it’s the nine oh it’s number four. But that card is I think just traded for a hundred and twenty thousand dollars yes but it is and don’t don’t touch the card though. The biggest thing you you is. Really learned I learned today that a majority of cards that are wrapped in packs have already not. Rated to a 9 or 10 scale like they came up they come off the printing press as not. And that’s you know just because there’s a lot of those a lot of interest in Cardin authenticators and Grading right now but it’s just crazy what’s happened with some of the end wasn’t didn’t Jake Paul or someone just by he bought that car done talking about. Crazy. Scot: [30:32] Yeah and LeBron said oh I’ve got like 10 of these. Greg: [30:36] There’s a lot of talk about athletes who are now you know as part of their deals there they’re going to the card manufacturers and asking. Well I want some of these two historically they would just sign things but now they only know part of their negotiation with those card companies is they want to be able to put those directly in their safes as well because why should someone else profit from, from their likeness if they’re not going to so it’s super compelling. Jason: [31:03] I feel like you you helped answer a question Scott’s wife had sent me a question asking if rally was just a scam to enable Scott to buy more Star Wars memorabilia but apparently it’s legit. Greg: [31:15] Yeah and hopefully it’s up I’m guessing depending on we’ve done we’ve done I don’t have I don’t think we’ve done Star Wars we’ve done like Hulk we’ve done a lot of comic books. And we did Teenage Mutant Ninja Turtles we did yeah. Scot: [31:33] I do it to diversify like I would never own an exotic but I can get like a slice of some of that and the first one I played around and I made like 40% is like and it happened very quickly someone came in with a very high offer and I guess they liquidated. Greg: [31:47] Yeah I know it’s great I’m I’m was I grew up in San Francisco or in the in a place called Petaluma which is north of San Francisco and I was safe to go Giants fan and one of the first, rally started off doing cars it was called Rally Road and so collectible cars was really the first couple years of the business then we moved it more into broader Collectibles but there was a Willie Mays Jersey, with this kind of tobacco stain on the front of it and it was a great it’s just a great looking Jersey it’s this kind of giants gray with the orange, San Francisco ran across and that was you know you know as I never really got to see maze play I’m too young for that but I would hear my dad and my grandpa talked about Willie Mays and so back to the the emotion parts of the Collectibles categories that was you know I own you know $80 worth of that Jersey, but I tell you know it’s not the first time told the story and so you just get kind of the benefits of the way and it really enables a whole new, type of investor customers to participate in markets that historically they couldn’t and I think those can make for exciting businesses for sure. Jason: [32:47] Oh definitely one other small little fun fact about goat you mentioned that they authenticate all the the merchandise so there’s a role for authenticator and one of their primary tactics is, they smell the shoe. To identify the fake glues versus the authentic glue so I’m just I’m chuckling at these folks that got this good job and went home to tell their families that they’re now officially a sneaker sniffer. Greg: [33:18] Yes yes and look these are you know let’s just say the original authenticators where do you think they came from they know these were these are kids who were working at Foot Locker. Right over kids who were kind of trading Jordans and you know who knew that we could be no pay them no money we pay and look we weigh them, we checked the colors we smell them, you make sure there’s not two left’s two rights make sure there’s in a lot of different things and you can tell a lot about authentic identity of a shoe by how much it weighs and where there was manufactured and, and things like that because you know again like we talked about. Authenticity matters and if Marketplace as any hints of things not being authentic it won’t work and you know I think that was a big challenge that the eBay had in his and I think it’s a challenge to Canada and the Amazon has now. That it’s very hard for that business to play at the high end. Watches or handbags or pie in sneakers or golf clubs they don’t work very well on Amazon and I think the perception of a 3rd party seller could do. A buyer is real and even Amazon worth when they were trillion plus dollars now hasn’t figured that part out. Jason: [34:29] Yeah and I think we may get to that I do want to Pivot though to talk about another class of investment that I know you have some whole things in Andy Dunn’s digitally native vertical brands. And just to set the table my my sense is sort of pre it felt like the narrative was that hey you know considering how many of these there are out there that not a lot of them had had a particularly good exit or any exit at all and I had a lot of people in the media calling this a hay is is D&B be dead I talked with a lot of clients about how much more successful like Target was it launching Brands then DMV bees but, now that you know everyone’s back into the the Commerce base as a result of covid I’m curious what was it ever true the DMV be was not a good investment and what’s the perspective now. Greg: [35:28] Yeah like I think it’s hogwash right if you you can even argue like Dollar Shave Club which was the first one to exit I think did so at a billion dollars plus, right I think. You know there’s been a lot of worry Parker Hager haters over time but that business that business could be worth twenty billion dollars some day it may take a while but you had no I think companies like glossy a, hymns Roman even pre covid that they were they were trapped away although clue they may be on the wrong side of the trend just want to travel like these companies were. For on their way to doing some great things I think of like you know the all birds what’s Raffi’s was headed as a trend has been a myth momentum we talked about Casper. [36:13] So maybe but I’m always been I think it’s been important I think what maybe gotta whack was valuations. And this happened with a few companies like a stance or their others well these are very good brands but they were valued like software companies and they’re still at the end of the day there are consumer brands, and so when those businesses Trade It, 5 to 10 times revenue and they stop growing or the burning a lot of money then there’s kind of investor sentiment is like, I don’t think consumer sentiment ever goes that way because the consumer is not asking what your U-turn economics look like when they’re buying are engaging in your product your brand but investors were just kind of fluctuate in and out relative to the predictability. [36:57] And scale related to software enterprise software businesses so I think that’s kind of interesting I think what’s also happened is a lot of businesses that really weren’t Tech businesses were, you know like a lot of food businesses for example our drink beverage businesses which have done or jerky businesses like they’ve done great but those really aren’t traditional Venture businesses but then you had you know like Blue Bottle Coffee have a huge outcome than that the Nestle, which is a venture back business so I don’t think they ever came out of favor I think what kind of what was out of favor and should have been as this that these companies were burning too much capital, relative to their growth rates and eventually if you’re not increasing your margins, while growing at rapid rates you’re just going to not be worth as much as I think some Venture Capital thought they could be and then that creates friction and the relationship and the eventual outcome of the business for sure. [37:52] But you know I think that earlier is is I have a relatively simple view of direct to Consumer businesses is I just like things that have, margin from high gross margin perspective I’m not afraid of retailgeek, but I think you have to be to see first you have to have a team that has the DNA of going directly. You have to be able to understand the importance of brand and brand development you want to have something that’s got some the community associated with it, you looking for things that are you know candidly economically economical the ship if it’s digital he’s even better but if it is a product that it fits in a something the size of a shoebox like an even bigger than that gets a little tougher to be honest. And you want something that you know, either has natural reoccurring characteristic or such loyalty that people keep coming back to buy you talked about parachute home is example you know I started out really doing sheets and duvet covers, and now you can get you know all sorts of products for altars of soft good products for the home and kitchen right and what people just fallen in love with that brand, and they’ll buy anything from that brand that Services their home and so it you know you can’t release a hundred skus at once on day one but over time you build that loyalty and you extend your product reach into categories that you really your customers are, are pushing you to go to and I think a lot of companies have had some success with that for sure. Scot: [39:17] Very cool so we’ve covered marketplaces in DMV be another one that I’m tracking really closely and goat is kind of in here but we haven’t talked about thredup so so there are really good kind of poster child for this one is, it’s this kind of Consignment and then a big Trend in fashion was this fast fashion kind of concept where you would buy lots of lower price Goods. But then there’s been kind of backlash against that from the millennial the younger generation to the Zoomers or gen Z and millennials. Because they’re really acutely aware of what’s going on with environment and whatnot in fast-fashion generates a lot of fast fast landfill I guess I would say so thread UPS really interesting it’s kind of part of this you know upcycling and. Kind of. Instead of wearing these things three or four times and throwing away how do we get more people to use these products is thread up one of your Investments and maybe give us an overview of how they’re doing. Greg: [40:13] Yeah throw tips and threads think I invested in 2014 and they’ve done tremendously well great team and right as you know I grew up or grow up I spent a lot of time working in off price. Right and recognize that consumers gravitate to brands at value and. At the same time if you just open up your closet you know even if you trimmed it during covid there still 75% of stuff in your closet you’re never going to wear again. Men and women threat of really focuses on women and kids but you know there is value in everyone’s closet and. Really taken advantage of a lot of the stuff is good product now probably half the stuff that goes to thread up doesn’t end up in the marketplace because it’s just, like a car house everyone thinks their products worth more than it might actually be but the reality is there is a market for that and importantly for threatens business there is an unlimited amount of supply. [41:11] And so you know we are just begun to make a dent in the amount of inventory that consumers own and so threat it really takes you know I was built an incredibly robust. Infrastructure and multiple warehouses in multiple cities where we ingest Millions upon millions of items. Are able to recognize using technology. Which ones are worth something which ones not and try and create an economic model that that pays the seller without having to bend to do anything other than put some stuff in a polka dot bag. Growing again back to my eBay is the biggest problem was it was a pain in the ass to sell on eBay. I’m so you really only wanted to sell the stuff that you knew was going to sell for something of Great Value and it wasn’t worth your time for something that was 15 bucks. Or 10 bucks and thredup is kind of sibling will take it we may not pay you 15 what you’re going to get more than you would get if you wanted to just drop it off in the thrift shop and just will send you the bags put in there send it back to us and we’ll send you a check. [42:18] It’s you know it’s kind of modified from there but this idea of these managed marketplaces and the and both similar is we use technology and we built a lot of infrastructure do the hard work. And if we can do the hard work that make the value proposition very easy for Sellers and very valuable for buyers it can create a pretty powerful and really differentiated businesses scale. And what’s interesting about threat up is you know there have more product on hangers than any company in the world, so if you were to go to their distribution centers and like Harrisburg or Phoenix or Lanta they’re just running three four stories of Hangers On conveyor belt. And that’s how they’re picking ingesting and then picking inventory we have millions upon millions of products on hangers. And it would be almost impossible for anyone to build something at that scale in a short period. Including you know someday the T.J.Maxx is in Ross’s are going to have to sell online. And I have to think that they’re going to look at businesses like thredup assuming I wonder if we could put our new product in there. [43:20] News product world and think of all the money and time we could save and I don’t know when that happens I’ve been waiting six years it hasn’t happened yet but I do think like you know for that happen to like. I’ve done some everything I am not a big peer-to-peer Marketplace investor and again this is my eBay. Kind of learning is I tend to gravitate more towards the managed marketplaces because there you can just buy or take rates. The peer-to-peer marketplaces are much more competitive from a price perspective and can delete just not I don’t believe peer-to-peer works at eventually everything gravitates towards more of the power seller, and so I kind of skip its data and look for those businesses where we jump right into some more of that powers our or just provide a great value where the the traditional, the regular person just put the stuff in a bag and and business is taking. Scot: [44:13] Here’s convenience factor on one side of the marketplace and a value on the other. Greg: [44:15] Yeah exactly something it yes. Scot: [44:17] I think it’s a I think I saw thredup is actually entered into some story relationships where their inventory will be at like I think there’s a Macy’s one and there was a JC Penney one when JC Penney was. Greg: [44:28] Yeah and a lot of anaconda and a lot of Brands themselves who want to be talked about the social conscious or the eco-friendly nature, I think brands are conscious conscious of the fact that that does matter to Consumers so by working with red up and creating a trade in trade up formula, just creates another reason for a customer to be happy with a, and if it dries a little bit more loyalty and more than pays for itself and from threats perspective we get access to Great customers and in great inventory. Clearly certain brands will Lululemon sells better than Gap it’s just a matter of supply and demand. And so you know from various perspectives are not just great marketing and Business Development opportunities but we do get access to inventory that work is likely to sell faster and higher prices on them. Jason: [45:18] Yeah we actually had Anthony Marino on the show asked you’re like episode 170 I want to say and I was telling him if I chuckle because Allah some of my clients are those discount apparel retailers that are not very bullish on e-commerce and, one of the main reasons they say they’re not bullish as oh man our inventory is too thin and dynamic. To work on e-commerce and I you know I always like to point out to those CEOs have you seen thread up and real real I mean. They totally figured out how to do it, I am concerned about time that I want to cover a couple other topics as you know one we’ve talked a lot about on the show recently is this idea of ship again and that that everyone’s counting on e-commerce to make up for all the the diminished or traffic this holiday season but there really isn’t enough shipping capacity for e-commerce to save the day. Is that a concern for your portfolio companies do you have a hypothesis for how holidays going to play out and I guess follow-up question. Do you worry about that systemically Beyond this year like you worry about the fact that, that e-commerce is just going to get artificially limited by these these constraining factors in the last mile. Greg: [46:38] Am I allowed to swear on his podcast. Jason: [46:40] You are I just have to check the right box when I upload the podcast but wet. Greg: [46:43] Yeah no I think I think after the election. Kind of coming around let’s assume everyone pushes their because of this they’re going to push their Thanksgiving Day promotions forward. Earlier in the calendar to avoid you know so you think you’re going to see my instinct is once we get through election assuming everything’s regards to wins. Yeah things are kind of back to normal covid-19 mall so let’s say November 15th. Maybe right after Veterans Day it’s going to be you can see a lot of promo start them and it’s going to be a total shit show it’s going to show for probably six weeks and then it’s going to be reverse Logistics it show when everything comes back. And the reality is what concerns me is the fact that. [47:31] The shippers that UPS is and FedEx’s are going to these retailers or Commerce partner with quotas saying you can do as much as you did last year but if you expect your business to grow a hundred percent a year that’s not going to work. So I’m worried more about I think they’ll deliver the probably they’re under promising but they’re going to justify a substantial surcharge on things above your quote-unquote quota. And so I think it’s going to be very expensive I think, again if you’re well that’s or Venture perspective you build a justify why your shipping expense in Q4 of 2020 was more than you expected, I think that will be universally accepted I think you know if your more traditional public company under, anticipating that it’s going to be you know not great because you’re going to see more expense and I think we’re going to have a lot of unhappy customers I think hopefully the customer will, kind of you know a lot of impact the election were encouraged to send our ballots in early maybe we’ll shop earlier I think you know I would expect I don’t know if you seen my expect. [48:32] 30 25 to 30 percent growth year over year in Q4. And we’d been historically 12 to 15 in the last couple years I think that’s clearly going to double if not more, and I think the Fed Ex is and UPS is USPS know what’s coming and they’ve done all they can for the past 6 months to get ready but we’re still going to get caught short handed. I do think it catches up at the end because you just look at the stock price of FedEx and UPS its doubled like they’re going to figure out a way to add capacity they are smart people they’re both going to increase prices that are going to you know do all the things they do. But I think it’ll work itself out I don’t think there’s enough slack from the startups I guess Amazon conceivably could take them as like but there isn’t any, company that is has raised venture capital and suddenly going to make it dense and there’s they might put it in their pitch decks but the volumes of velocities that the big three plus Amazon carry it just dwarfs anything else that’s out there. So I think it’s going to be a problem then we’ve talked about like I’m super excited about returns I’ve been bullish on returns as a business since I worked at. Nordstrom. And back to company that solely focuses on trying to figure out how to lower costs and create better experiences around returns a company called happy returns and I can’t wait to talk about that business in. Like it’s going to be amazing. Jason: [49:53] No I think you’re a hundred percent agree for all the Today Show producers that are listening to this podcast you know we’ve been talking about ship again in but arguably the bigger story is going to be returned to get in because you know when you buy a pair of from a brick-and-mortar store you return it about ten percent of the time when you buy it online returns are over thirty percent so you know this quarter where we are artificially selling everything online if we follow past Trends there’s going to be an enormous amount of returns and reverse Logistics is way harder and has way more constrained capacity than, outgoing Logistics and so I you know. Greg: [50:35] Well look the with the bigger headache is two things one is in this is the big contrarian but I think people haven’t been spending money on soft goods meaning like clothes and apparel relative to other categories, so there’s going to be a lot of gifting around things like that that aren’t you know comfy pants so sweaters and more traditional clothes so those are returned to higher rates right Christmas gifts and holiday gifts tend to be higher asps, so hire a ESPYs is a correlation to returns and importantly the biggest friction with returns for consumers is how long it takes you to get your money back, under the credit card or the order the gift card in return and so if there is a if right now it takes 5 business days or seven business days to get your credit back. In a world of congestion you may not it may be a month or six weeks before you get your money back by the time all that stuff gets processed in warehouses better, people are working half shifts because of covid and so I think it’s going to be as much people yelling, not like where’s my money where’s my credit as much as it is just the time it takes to get the items back so I don’t think retailers are accomplished for even thinking about that yet but I guarantee you. Jason: [51:45] No I agree and I specially like there could be a lot of stress in the subprime portion of consumer credit come come January and so yeah that that’s a huge play one super funny premise I heard well maybe it’s true but in addition you know they’re all these arguments like hey winter people are going to need warm clothes even if they haven’t bought a lot of apparel the one funny one is almost no one that’s that’s sheltered in place has the same size they were at the beginning of the pandemic and so that could potentially Drive, more apparel sales and more more returns. Greg: [52:23] Now you either lost a bunch of weight or gained a bunch of weight right yeah. Scot: [52:27] The covid-19 is this yeah one quick one I wanted to hit on just because I like to talk about robots is you guys have invested in a robot automation system called in Via inv I a reminiscent of Kiva and then Amazon bought Kiva and then obviously kind of kept it to themselves the only other customer I think that had it was a pose and then they bought them to so that’s a pretty interesting one is Imagine demand for that kind of a thing is skyrocketing with with covid obviously having less people running around warehouses good too. Greg: [53:04] Yeah look I think there’s and there’s another was a Envy as number one competitor was a company called six river which was acquired by Shopify, a few about probably about a year ago now so look I think the reality is that was original I’m going to get my numbers wrong but I think there’s 15 million people who work in Commerce fulfillment warehouses in the US. And pre covid you know you couldn’t labor was exceptionally tight and they’re just you know, it wasn’t about robots replacing jobs is about driving more efficiency and efficacy in a warehouse and you know these businesses like India are as much software as they are Hardware there really warehouse management systems, that utilize Automation and robotic technology to really pick bins and bring the bins to the pickers who can because robots can’t really pick yet, but they can deliver the bins and they can return the bins to the the staging location in Oakland replenish the bins and so like I think it’s a super interesting business that’s really trying to use. The whole premise on that was candidly. [54:11] Retailers need to get closer to their customer and in the old days you would park a million square foot Warehouse in Iowa. For Kentucky because that way you could take advantage of the shipping rates across the zones 1 2 3 4, and you can get to California or New York in three days turns out the Amazon figure it out that the closer you are to the customer the more the happier they are. So now a Commerce provider has to have 10 100 square foot. Facilities instead of 1 million square foot facility turns out you can’t spend as much money on Automation in 10 locations as you can in one is you have to spread your budgets out to be 1/10, so you’re looking for more cost-effective automation Solutions and that’s really the thesis around, via is that we can provide a relatively low cost variable cost automation system to help with the smaller warehouses that are more likely, and to be used in certain local markets and clearly now post covid when you can have half as many people in a warehouse, robots are good partners they don’t complain they don’t yell they don’t breathe they don’t cough they don’t sneeze all you got to do is they don’t pee I gotta do is change their batteries, you know once every 12 hours. Jason: [55:24] Back in time and wipe out the human race however. Greg: [55:26] Yes yes, these ones don’t talk, but yeah so that’s a super like those are you know again a friction point the reality is you know even without code code would Converse online is going to grow 10 to 15% for at least the next 10 to 15 years, and I don’t think we’re ever going to have more than 20 million people working in warehouses and you got to the only way that we’re going to be able to deliver all that product to meet the expectations of the consumer is we’re going to have Automation and. It’s a little bit of I have no doubt it’s going to happen it’s going to be when it happens the scale that I hope for. We’ll look back in 20 years and it’ll be a rounding error about what year this became mainstream but in 20 years there’s not going to be more people in warehouses that are on there are now and I would bet any amount of money on that and so, I’m super excited about whatever is this thing goes well. Scot: [56:18] Yeah there’s been a lot of talk about Amazon monitoring employee Communications for talk of unionization so robots also don’t form from unions which is I guess the I wanted to I know we’re up against time I wanted to rap and just kind of talk about eBay so so you I met at eBay a lot of the there’s like this eBay Mafia folks like yourself that have gone on to do a bunch of stuff, we run into them in the vehicle Auto segment all the time which is kind of interesting like wasn’t one of the fair guys an eBay person. Turo is. Greg: [56:50] Yeah there’s what it was Scott painter was fair and he was actually true car. Scot: [56:54] Two car yet you get. Greg: [56:55] No but the eBay Auto guy is the founder of happy returns is a former eBay Motors guy. Rob Chesney who was the CEO of eBay Motors was the CEO of Trunk Club. He’s now a venture capitalist in Chicago Simon Rothman I think was one of the first Tesla investors he went on to be an investor at Greylock. [57:18] And then there’s a few there’s a lot of the eBay Motors guys know there’s a lot like eBay, had a lot of tremendously smart people both in the operation side and the Really the finance side legal side and now like my old boss is now the CEO, and so Jamie Ione worked side-by-side with him for a lot of years and you know I’ve talked to him a few times since he took his job we had a, kind of had an eBay reunions right the day that he got announced to be CEO and we probably had 20 people bunch of old category you know people like didn’t Ash and George Latimer and Todd let whack and those people that I know you knew really well and we were all given we’re pitching Jamie our ideas and all the things that have been screwed up with eBay for the past 10 years when all of us were gone. [58:04] And I think you know he’s done. You know they sold StubHub they sold the PayPal business they sold the class of a business so there’s really only two if Korea in the north of and the US. And European Marketplace businesses and I think he’s getting back to the core and recognizing what eBay was good at, which is search and discovery of unique items are great values and I think they’re spending a lot of resources protecting, businesses that are doing very well like they’re collectibles businesses that’s the one category that hasn’t been disrupted on eBay and I think Jamie and Jordan. Sweet man are recognized that I’m making Investments and doing things that we would never have done with Meg and John and regime or the boss when I was there 15 years ago. Scot: [58:51] Yeah yeah I’m excited I think the world is a better place with a strong eBay so I’m hoping they can turn it around and definitely cheering from the sidelines over here so so hopefully I’m doing my part to drive gmv by buying some Collectibles during code. Jason: [59:08] Awesome we’ll listen guys that is going to be a great place to leave it because once again we’ve used up all our allotted time but if there was something we should have brought up and didn’t or you have a burning question feel free to hit us up on Twitter or Facebook and we’re happy to continue the conversation as always if you enjoyed the show sure appreciate it if you could jump on iTunes and give us that five star review. Scot: [59:31] Greg if folks want to find you online where are the best places to find you. Greg: [59:35] Yeah easiest my emails is Greg at upfront.com. 50/50 I’ll get back to you but that’s it pretty simple you can go to LinkedIn as well, I have a fancy little drawing of me as a picture and you want to send me a message that way and then at Twitter just at Greg bettinelli and my venmo is the same so if you want to send me money you can do that as well. Greg bettinelli. Jason: [1:00:00] I’m not sure you fully comprehend how the investment role is supposed to work. Greg: [1:00:03] Oh right it goes the other way so you want to send me the Paypal invoice you can do that as well no yeah. Scot: [1:00:09] Cool thanks Greg we really appreciate you taking time to share some of these macro themes that you’re looking at I think it’s super helpful as we head in the holiday to be thinking about the long-term before we get wrapped up into the short-term. Greg: [1:00:23] Yeah great and you know congratulations on 244 and also hope you and the family are well and healthy I know this isn’t easy for anybody and at least this is add a little levity which I think you know hopefully will get back to normal someday and, I know we will see better when but hopefully the two of you remain a good health in the same period fan. Jason: [1:00:41] Thank you very much great again and right back at you and and to everyone listening until next time happy commercing.  

L'objectif de cet épisode est de travailler la compréhension orale et de vous préparez pour des questions de production écrite ou orale des examens de français. Sujets: tourisme, bien-être Un objectif secondaire est de vous convaincre de faire des pauses régulièrement :) Notez les idées qui vous intéressent, celles avec lesquelles vous êtes d'accord ou pas d'accord. Téléchargez la transcription et la fiche pour développer votre vocabulaire. Je vous parle de : pourquoi il est nécessaire de prendre de vraies pauses où l'on ne fait rien plusieurs tendances populaires pour les vacances (déconnexion, volontourisme, micro-expériences) sources: Cerveau et silence, Michel Le Van Quyen (2017) Podcast “Travail en cours”: “Déconnexion : pourquoi votre cerveau a besoin de silence pour se régénérer Forbes 20/05/2019, Out Of Reach, La Start-Up Qui A Fait De La Déconnexion Numérique Le Nouveau Chic La Source, 9/03/2015, Bénévolat : les dessous d'un business controversé --- Support this podcast: https://anchor.fm/mypolyglotlife/support

This weeks MBoR was as is the norm a random record selection of Jungle Drum'n'Bass beatzzz. www.unknown.fm Records Spun 808 State, Pacific State ( Grooverider rmx ). ZTT Danny Breaks, Volume One ( Logistics rmx ). Sick Music Madcap, Pressure. Vibez 93 FFF, The Dance .Vibez 93 Madcap, Learning Curve .Vibez 93 FFF, End The Talking .Vibez 93 FFF, Krisp Biscuit. 7th Storey Projects Madcap, Take Your Time. Vibez 93 FFF, The Return. 7th Storey Projects J Majik, Break Free. Infrared Coco Bryce, The Mother Goddess. 7th Storey Projects J Majik, Break Free. Infrared ?????, Cant find this tune for its name. Fushara, Machine To Build Nations. 7th Storey Projects Madcap, River Soul. Soul Deep Exclusives Tango, Understanding ( Madcap rmx ). Creative Wax Madcap, Pablo. Soul Deep Exclusives Madcap, Sunshine Dubs. AKO10 Beatz Madcap, Warning. Skeleton Madcap, Out Of Reach. AKO10 Beatz DJ Trax, Cant Stop Wont Stop, Skeleton Fushara, Logical. 7th Storey Projects Fushara, Ascension. 7th Storey Projects Unknown Artist, Mashup Style (Amen Edit). Vibez 93 Fushara & Infest, Infinity, Criterion Kid Lib, Spice. Amenology Kid Lib, My Dreams. Amenology SpinScott, Love Light. ELM Imprint Pulse, New York. Creative Wax A-Sides, Atlantic. ELM Imprint

Karma – Crampton Beat Skream – Rollin Kick Silkie – The Horizon De-Tü – Tried By Tu LAS – Uuha (Egoless Remix) Headland – Tasty Witch Quest – Wind Tunnel Mala – Pop Pop epic Sleeper – Oram Mode Leftlow – Cluedub (Skeptical Remix) V.I.V.E.K – Kismet Headland – Idle V.I.V.E.K – Out Of Reach […]

Vous souhaitez vous aussi diffuser et partager vos fictions ? Écrivez-nous à l'adresse media@groundcontrolparis.com. Dans une lettre qu’il écrit à ses parents, un électricien parisien raconte son nouveau quotidien à Limbé, ville du Sud-Ouest du Cameroun où il se fait héberger en échange de petits travaux. Entre baignade, réparation des groupes électrogènes et rencontre des habitants, l’homme se reconnecte petit à petit à lui-même loin du tumulte du mode de vie « métro-boulot-dodo ». Plus qu’une lettre, c’est un au revoir pour celui qui décide de tout quitter et de s’installer loin, là-bas, où il pourra enfin se retrouver ! Écrite par Thomas Pelikan, la fiction Farewell propose un retour d’expérience sur la trajectoire de ceux qui, de plus en plus nombreux, décident de quitter leur vie et de partir à la recherche d’eux-mêmes ! Farewell est la fiction de l’épisode 3 de la série de podcast Utopia sur la question : « la déconnexion est-elle nécessairement la clé de la reconnexion à soi-même ? » - bit.ly/32u5nx2 Avec : - Thibaud Dumas : Chercheur en neuroscience, spécialiste du cerveau ; il est en train de travailler sur un livre autour des questions de la concentration et sur la déconnexion. - Félicie Royol : Fondatrice associée de Out Of Reach (en français : “hors de portée”, www.oor.zone/), une agence de voyage qui vous propose de vous déconnecter lorsque vous partez en vacances. - Myrtille Daburon, Responsable planning stratégique et contenus chez FutureBrand. See acast.com/privacy for privacy and opt-out information.

Vous souhaitez vous aussi diffuser et partager vos fictions ? Écrivez-nous à l'adresse media@groundcontrolparis.com. Dans une lettre qu’il écrit à ses parents, un électricien parisien raconte son nouveau quotidien à Limbé, ville du Sud-Ouest du Cameroun où il se fait héberger en échange de petits travaux. Entre baignade, réparation des groupes électrogènes et rencontre des habitants, l’homme se reconnecte petit à petit à lui-même loin du tumulte du mode de vie « métro-boulot-dodo ». Plus qu’une lettre, c’est un au revoir pour celui qui décide de tout quitter et de s’installer loin, là-bas, où il pourra enfin se retrouver ! Écrite par Thomas Pelikan, la fiction Farewell propose un retour d’expérience sur la trajectoire de ceux qui, de plus en plus nombreux, décident de quitter leur vie et de partir à la recherche d’eux-mêmes ! Farewell est la fiction de l’épisode 3 de la série de podcast Utopia sur la question : « la déconnexion est-elle nécessairement la clé de la reconnexion à soi-même ? » - https://bit.ly/32u5nx2 Avec : - Thibaud Dumas : Chercheur en neuroscience, spécialiste du cerveau ; il est en train de travailler sur un livre autour des questions de la concentration et sur la déconnexion. - Félicie Royol : Fondatrice associée de Out Of Reach (en français : “hors de portée”, www.oor.zone/), une agence de voyage qui vous propose de vous déconnecter lorsque vous partez en vacances. - Myrtille Daburon, Responsable planning stratégique et contenus chez FutureBrand.

Pour les prochaines vacances, vous rêvez de partir en retraite dans un monastère où le silence est roi ? Vous avez peut-être déjà configuré votre portable pour être alerté lorsque vous dépassez un temps d’écran « normal » ? Bref, vous commencez sérieusement à sentir le besoin de déconnecter de votre rythme de vie effréné et surconnecté pour éviter de devenir complètement dingue ? Et pourtant vous ne pouvez pas vous passer de votre smartphone, les réseaux sociaux sont vos outils quotidiens pour échanger avec le reste du monde et vous adorez par-dessus tout votre quartier, ses bars, ses restos et les dîners entre amis qui vont avec.Pas de panique ! Vous souffrez seulement du syndrôme to be or not to be connected (ou NOMO pour les plus techniques). Derrière cette question, l’enjeu n’est autre que de rester connecté à soi-même. Oui, mais comment ? Comment se déconnecter ? Combien de temps ? Faut-il partir à l’autre bout du monde ou simplement mettre son téléphone à l’autre bout de la pièce ?Pour en discuter, nous recevons :- Thibaud Dumas : Chercheur en neuroscience, spécialiste du cerveau ; il est en train de travailler sur un livre autour des questions de la concentration et sur la déconnexion.- Félicie Royol : Fondatrice associée de Out Of Reach (en français : “hors de portée”, https://www.oor.zone/), une agence de voyage qui vous propose de vous déconnecter lorsque vous partez en vacances.- Myrtille Daburon, Responsable planning stratégique et contenus chez FutureBrand.Une émission animée par Louis Hamelin.Pour ouvrir la discussion, l'auteur Thomas Pelikan signe la fiction « Fairwell » (02:22) qui nous transporte à Limbé, l’un des villages les plus à l’ouest du Cameroun, où le narrateur s’est installé après avoir tout plaqué pour se reconnecter à lui-même. Dépaysement garanti ! See acast.com/privacy for privacy and opt-out information.

Pour les prochaines vacances, vous rêvez de partir en retraite dans un monastère où le silence est roi ? Vous avez peut-être déjà configuré votre portable pour être alerté lorsque vous dépassez un temps d’écran « normal » ? Bref, vous commencez sérieusement à sentir le besoin de déconnecter de votre rythme de vie effréné et surconnecté pour éviter de devenir complètement dingue ? Et pourtant vous ne pouvez pas vous passer de votre smartphone, les réseaux sociaux sont vos outils quotidiens pour échanger avec le reste du monde et vous adorez par-dessus tout votre quartier, ses bars, ses restos et les dîners entre amis qui vont avec. Pas de panique ! Vous souffrez seulement du syndrôme to be or not to be connected (ou NOMO pour les plus techniques). Derrière cette question, l’enjeu n’est autre que de rester connecté à soi-même. Oui, mais comment ? Comment se déconnecter ? Combien de temps ? Faut-il partir à l’autre bout du monde ou simplement mettre son téléphone à l’autre bout de la pièce ? Pour en discuter, nous recevons : - Thibaud Dumas : Chercheur en neuroscience, spécialiste du cerveau ; il est en train de travailler sur un livre autour des questions de la concentration et sur la déconnexion. - Félicie Royol : Fondatrice associée de Out Of Reach (en français : “hors de portée”, https://www.oor.zone/), une agence de voyage qui vous propose de vous déconnecter lorsque vous partez en vacances. - Myrtille Daburon, Responsable planning stratégique et contenus chez FutureBrand. Une émission animée par Louis Hamelin. Pour ouvrir la discussion, l'auteur Thomas Pelikan signe la fiction « Farewell » (02:22) qui nous transporte à Limbé, l’un des villages les plus à l’ouest du Cameroun, où le narrateur s’est installé après avoir tout plaqué pour se reconnecter à lui-même. Dépaysement garanti !

In this one off special edition of 13 Steps Below, hosts of the podcast Jack and Joseph play a game of Ultimate Thesis Warrior Showdown. In which every student in the University of the Underground is put on the spot and asked to explain their thesis in just 1 minute over the phone. Other features include: John Charles Bricker giving a stream of consciousness to the sound of Gabrielle’s Out Of Reach, 12 minute opera titled From Now We Go Extreme by Tom Burke and Anna Maria Merkel’s Premium Brand Experience. Made by the students of the MA Design of Experiences at the University of the Underground and the Sandberg Instituut: Malena Maria Arcucci, John Charles Bricker, Tom Burke, Alexander Cromer, Ryan Eykholt, Heather Griffin, Juhee Hahm, Anna Maria Merkel, Joseph Pleass, Ada Reinthal, Luke George Hardy Rideout, Evita Eva-Maria Bianca Rigert, Jack Waghorn. Credits: Produced by: Jack Waghorn, John Charles Bricker, and Heather Griffin Hosts: Jack Waghorn and Joseph Pleass Luke & Juhee’s Supply Chain Broadcast can be found at: http://supplychainbroadcast.net/

Hello amigos This week , we have a producer / DJ Honduras *** Gabriel Mancia *** You Can follow the show: Sunday at 21.00 on Radio Vibration Bruxelles 107.2 FM - Mons 91.0 FM http://www.vibration.fm/player/brussels.htm Monday at 08.00 on HouseOfHouse Radio * http://houseofhouse.be/ * Tuesday at 21.00 on XBeat * http://www.xbeat.org * Wednesday at 22.00 on HouseOfHouse Radio * http://houseofhouse.be/ * TRACKLIST ---------------- 1. Malazinga (Chus/Ceballos dub mix) - GruuvElement's 2. Los Corazones (original mix) - Dennis Cruz 3. Your Love (Gunther Robles remix) - Alessandro Diruggiero, Rone White & Gunther Robles 4. Getcha Luv (original mix) - Sebb Junior 5. Changes (2017 Remaster) - LHK Productions 6. Trippy Phase (WAFF remix) - Joey Daniel & Eder Alvarez 7. Strawberry Jam - Moodena 8. Playzone- Michael Bibi 9. Wickeed (Joseph Mancino remix) - Lo Coco 10. Go Like This - James Cole 11. Trippy Phase (original mix) - Joey Daniel & Eder Alvarez 12. Magic Button (original mix) - Joey Daniel & Eder Alvarez 13. Mobius Strum & Dorian Chavez - MAE 14. Buzzy (original mix) - Lo Coco 15. Diskotech (original mix) - Rhoowax 16. Why -Wheats 17. No Good (club mix) - Mike Vale 18. Out Of Reach (original mix) - Loco Dice, William Djoko 19. Let Me Try - Kry Wolf, Dj Rae 20. Se Quema El Monte -Tini Garcia, Ramon Bedoya 21. Alma Negra - Ramon Bedoya 22. Wait No More - Eli Brown 23. Cartegena - Eli Brown 24. Colombiano (extended mix) - Erick Morillo

Los Angeles-based Australian actor and singer/songwriter Sam Clark joins us this week on Hot & Delicious: Rocks The Planet! LIVE from LA!  Sam's first ever acting job was on Australian TV soap opera Neighbours, he’s had 2 x #1s on the ARIAs Physical Singles Chart and last year starred in Grease: Live, the USA television special broadcast by Fox that was a live, televised remake of the 1978 film Grease and this week Sam's launched a brand new single and music video called ‘Out Of Reach’ that we’re featuring on the show! Sam & I chat about working with Grammy award-winning songwriting partner Bill Grainer (Jennifer Hudson, Forever In Your Mind), our very first meeting for at a house party in the Hollywood Hills with Aussie actor Jacinta Stapleton, our shared love of hiking the canyons around greater Los Angeles and top tips/key lessons/advice for any Australian contemplating packing up their lives and making a go of it in LA. Are an Aussie actor or budding rockstar wanted to live a life in Los Angeles, California? THIS is the show for you! Connect with Sam Clark online: Facebook - https://www.facebook.com/SamClarkOfficial/ Twitter - https://twitter.com/SamClarkmusic - @samclarkmusic Instagram - https://www.instagram.com/samjclark/ - @samjclark Youtube - https://www.youtube.com/samclarkofficial Patron - https://www.patreon.com/samclark Spotify - https://open.spotify.com/artist/07lz9UJt0n65ulpQGnPYQI Website - http://www.samclarkofficial.com/  Artist Alexandra Danielle AKA @thecolourofsound: https://www.instagram.com/thecolourofsound/   Hit Hot & Delicious: Rocks The Planet up on social media here: Twitter https://twitter.com/hotndelicious Instagram https://www.instagram.com/hotndelicious/ Instagram https://www.instagram.com/craftbeerlovin/ Facebook https://www.facebook.com/HotnDelicious Hot & Delicious YouTube - Ballistyx Snowboard Show, interviews & more. https://www.youtube.com/user/HotnDeliciousRecords 'Hot & Delicious: Rocks The Planet’ entertainment, travel, photography & lifestyle blog: http://hotndelicious.com/   For social media, photography & influencer business enquiries contact: info@hotndelicious.com

What's up everyone!   Man, it's been a weird last week or so and I don't forsee things getting more normal anytime soon. But I've got some tunes to help you through. I want to thank all of you for your patience with me getting this next episode out. I think I kind of over music'ed myself again and I also don't think I fully appreciated how much mental space the election was taking up. Oh yeah, and there is the three kids, job, life... And Dan Carlin's Hardcore History hasn't helped but omg it's sooo good!! It's not music but you should listen. Anyway, enough banter. These are the vibez you're looking for.   Thanks for listening and don't forget to support the artists,   Aaron @actlistmusic   Tracklist (links to buy) 1.Our Own Roof by Nils Frahm on Music for the Motion PictureVictoria 2.Free Now by Sophie Zelmani on Free Now 3.Jolene by Dolly Parton on Jolene 4.Eating Hooks by Moderat on III 5.Plucky by Morly on Something More Holy EP 6.Ghost sYMbOL by Zero 7 on Yeah Ghost 7.Murakami by MADE IN HEIGHTS on Without My Enemies What Would I Do 8.Gosh by Jamie xx on In Colour 9.Earth Not Above by Hælos on Full Circle 10.Sip by Palmistry on Pagan 11.Out Of Reach ft. Lucy Kitchen by Technimatic on BetterPerspective 12.Everything Beta by Phoria on Volition 13.Real Love by Billie Black on Teach Me 14.Walls to Build by Kllo on Well Worn 15.Holding Back ft. Gallant by SG Lewis on Holding Back

Out Now - My new uplifting driving Trance single "Out Of Reach" show your support by grabbing your copy here! https://www.beatport.com/track/out-of-reach-original-mix/8340000 www.allanmorrow.com www.apolloartistsagency.com www.allanmorrow.com @allan-morrow www.twitter.com/allanmorrow_ www.facebook.com/allan.morrow www.instagram.com/allan_morrow www.youtube.com/DJAllanMorrow For worldwide bookings please contact bookings@apolloartistsagency.com

This Show: Waveradio!! From their approach to music, to working on the soundtrack for the documentary "Refugee: The Eritrean Exodus" Included in the interview are their songs "Out Of Reach" and "I Wanted"

April 2nd: Haz Solo- "Made II Order" Notorious B.I.G- "The What (NAMELESS Remix)" Birthdays Thurz- "Rodney King" Marvin Gaye- "What's Going On" Positive News Jahshua Smith ft. Jae Music & Red Pill- "Changes" 40Love- "I Think Too Much" Rapsody- "Everlasting" Abjo- "Out Of Reach" www.SpecialSays.com Feedback? @SpecialSays or SpecialSundaysRadio@gmail

Tracklisting: 01. Crockett's Theme (Tom Middleton Cosmos Mix) - Michael Cassette 02. Eterna (John Digweed & Nick Muir Remix) - Slam 03. First Night Inside (Original Mix) - Redondo 04. Games For Girls (Deeptech Mix) - Paduraru 05. The Circle (Original Mix) -Supernova 06. The Notebook (Original Mix) - Vincenzo 07. All I Need (Original Mix) - Beckwith 08. 2010 (Original Mix) - Hypnotic Duo 09. At Night (Redondos At Afternoon Remix) - Shakedown 10. Natura (Original Mix) - Crocy 11. Same Things (Original Mix) - Jakhira 12. Out Of Reach feat. Jonathan Mendelsohn (Alfred Taylor Remix) - Jody Wisternoff, Jonathan Mendelsohn 13. Follow The Step (Justin Martin Remix) - Rachel Row 14. Wine (Sasha Involv3r Remix) - Blondes 15. Dense Clouds (Airwave Remix) - John 00 Fleming Feat Sona Mohapatra Mitchell Claxton Guestmix 01. Rollercoaster (Original Mix) [Mental Asylum] - Eddie Bitar 02. Sunday Rain (Original Mix) [Critical Fusion] - Jimmy Chou 03. The Inside (Sneijder Remix) [FSOE] - Neptune Project feat. Polly Strange 04. Introvert (Original Mix) [Critical State] - Liam Wilson 05. Fire Vortex (Original Mix) [Monstercat] - Mitchell Claxton

Рад приветствовать всех на ALT RADIO! Вы слушаете радиошоу MAXIMUM и с вами его постоянный ведущий Lemon 4 aka Dreamer. Настало время вкушать лето наполную вместе с хорошей музыкой. Ее в мае месяце мы услышали очень много, а главное действительно качественной. Начну с того диска, который ранее увидел свет и был так ожидаем настоящими ценителями. Я говорю об легендарной серии Balance австралийского рекординга EQ. Двойник с порядковым номером 021 записал британский диджей и музыкант Ник Фанчулли (Nic Fanciulli). Скажу чесно, лишь после нескольких прослушиваний меня что называется "вставило" звучание Ника. Манипулируя на грани тэка и хауса, Ник сохранил интригу до самого финиша компиляции. Для тех, кто прослушав один раз забросил диск подальше, советую поднять с полки и заслушать в плеере несколько раз кряду. Кстати это и хорошо, что музыка не запоминается сходу, тем самым заставляя слушать себя снова и снова. Таким образом - твердая четверка от меня за долгожданный двойник серии. Следующий обзор - это чудный хаусовый альбом Joddy Wisternoff - Trails We Blaze. Во-первых, огромный респект Джодди за столь ошеломительное название для альбома - это действительно эксклюзивно и не похоже ни на что. Так же и с музыкальным наполнением - музыка для активного отдыха, похождений в огромных торговых центрах и поездок в авто. Современный хаус, местами ближе к коммерческому звуку, но была бы вся поп сцена такая, цены бы ей не было. Для себя отмечаю классический хаус в 95, вокал Jonathan Mendelsohn надолго заседающий в подсознании на фоне Out Of Reach, абалденный и уже легендарный Cold Drink Hot Girl и фантастический трек Orinoco, не дающий мне покоя вот уже какой день кряду. Считаю именно Orinoco фаворитом и настоящим джокером всего альбома Джодди. Ну и настало время сообщить о том, что и я готовлю третью по счету диск-компиляцию в своей дискографии. Это будет продолжени серии MY ANJUNADEEP двухлетней давности. В июле 2012 лимитированным тиражом вас ждет мягкая, нежная и мелодичная MY ANJUNADEEP 02 в моем исполнении, которая впитает в себя звучание лучших на мой взгляд артистов лейбла за последнее время. Будет обязательно блог, где можно будет узнать более детальную информацию об диске.Что же касается 42-го выпуска шоу, то здесь музыка собрана опять таки более глубокая и вдумчивая. В описании я снова указал Deep, но на этот раз музыка более мягкая, я так считаю. Полагаю, что именно этот эпизод вызовет у всех постоянных слушателей даже слезы на глазах. Уж больно он мягкий, мелодичный и главное эмоциональный получился - фирменный Maximum House так сказать.Проект "MAXIMUM" - новые веяния, тенденции, тренды современной клубной сцены и электронной танцевальной музыки. "MAXIMUM" - максимальное удовольствие!Сегодня в программе:Паоло Моджо с треком 1983 в ремиксе Эрика Придза. Этот трек лежит у меня с 2006 года. Подняв архив, я только сегодня представляю это чудо в своем шоу, но как говорится "музыка возраста не имеет". Дэйв Шторн с красивейшим треком Dreambox. На пластинке две версии трека и на сегодня я выбрал оригинал. В дальнейшем я обещаю подарить вам и другую интерпретацию данной работы, уж больно засел в душу мне данный релиз. Дальше немного побороздим просторами классического прогрессив-хауса вместе с лейблом Mesmeric. Новейший валютный хор от Rodskeez погружает в этот мир, а рекорд компания Portrait вместе с полюбившимися мне Teana & Tiida продолжают прогрессив вакханалию программы. Данный выпуск шоу записывался в преддверии выхода альбома Trails We Blaze от британского музыканта Jody Wisternoff. Именно поэтому я играю один из треков маэстро в данном эпизоде, чтобы все услышали насколько он талантлив и уникален в своем звучании. Ну а то, что будет звучать дальше в эфире, я называю божественным звучанием моего радиошоу MAXIMUM. Тот звук, который мне так близок по духу. Я люблю как четкий современный хаус и deep, так и классический прогрессив - глубокий и мелодичный. От такой музыки я теряю голову, как настоящий фанатик своего дела. Финишная прямая отдана именно таким музыкантам как Эндрю Бейер, Стефан Кросс, Джеймс Грант, Паркер, Хенсон и конечно же Колина Фишера. Это Maximum House друзья, мой любимый саунд в радиошоу MAXIMUM.Приятного прослушивания и до новой порции МАКСИМУМА! Искренне ваш Lemon 4 aka Dreamer.promodj.com/dreameriTunes: bit.ly/1GmefEt1. Paolo Mojo - 1983 (Eric Prydz Remix) [Pryda Friends]2. Dave Shtorn - Dreambox (Original Mix) [FreeSound]3. Rodskeez - Dollar Chorus [Mesmeric]4. Teana & Tiida - Aspire (Original Mix) [Portrait Digital]5. Jody Wisternoff - Shivver (Original Mix) [Anjunadeep]6. P.O.S. - Gravity (Andrew Bayer & James Grant Remix) [Anjunadeep]7. Stephen J. Kroos - Phobos (Original Mix) [Anjunadeep/PROMO]8. Parker & Hanson - Afterthought (Soundprank's Deep 04 Mix) [Anjunadeep/PROMO]

Рад приветствовать всех на ALT RADIO! Вы слушаете радиошоу MAXIMUM и с вами его постоянный ведущий Lemon 4 aka Dreamer. Настало время вкушать лето наполную вместе с хорошей музыкой. Ее в мае месяце мы услышали очень много, а главное действительно качественной. Начну с того диска, который ранее увидел свет и был так ожидаем настоящими ценителями. Я говорю об легендарной серии Balance австралийского рекординга EQ. Двойник с порядковым номером 021 записал британский диджей и музыкант Ник Фанчулли (Nic Fanciulli). Скажу чесно, лишь после нескольких прослушиваний меня что называется "вставило" звучание Ника. Манипулируя на грани тэка и хауса, Ник сохранил интригу до самого финиша компиляции. Для тех, кто прослушав один раз забросил диск подальше, советую поднять с полки и заслушать в плеере несколько раз кряду. Кстати это и хорошо, что музыка не запоминается сходу, тем самым заставляя слушать себя снова и снова. Таким образом - твердая четверка от меня за долгожданный двойник серии. Следующий обзор - это чудный хаусовый альбом Joddy Wisternoff - Trails We Blaze. Во-первых, огромный респект Джодди за столь ошеломительное название для альбома - это действительно эксклюзивно и не похоже ни на что. Так же и с музыкальным наполнением - музыка для активного отдыха, похождений в огромных торговых центрах и поездок в авто. Современный хаус, местами ближе к коммерческому звуку, но была бы вся поп сцена такая, цены бы ей не было. Для себя отмечаю классический хаус в 95, вокал Jonathan Mendelsohn надолго заседающий в подсознании на фоне Out Of Reach, абалденный и уже легендарный Cold Drink Hot Girl и фантастический трек Orinoco, не дающий мне покоя вот уже какой день кряду. Считаю именно Orinoco фаворитом и настоящим джокером всего альбома Джодди. Ну и настало время сообщить о том, что и я готовлю третью по счету диск-компиляцию в своей дискографии. Это будет продолжени серии MY ANJUNADEEP двухлетней давности. В июле 2012 лимитированным тиражом вас ждет мягкая, нежная и мелодичная MY ANJUNADEEP 02 в моем исполнении, которая впитает в себя звучание лучших на мой взгляд артистов лейбла за последнее время. Будет обязательно блог, где можно будет узнать более детальную информацию об диске.Что же касается 42-го выпуска шоу, то здесь музыка собрана опять таки более глубокая и вдумчивая. В описании я снова указал Deep, но на этот раз музыка более мягкая, я так считаю. Полагаю, что именно этот эпизод вызовет у всех постоянных слушателей даже слезы на глазах. Уж больно он мягкий, мелодичный и главное эмоциональный получился - фирменный Maximum House так сказать.Проект "MAXIMUM" - новые веяния, тенденции, тренды современной клубной сцены и электронной танцевальной музыки. "MAXIMUM" - максимальное удовольствие!Сегодня в программе:Паоло Моджо с треком 1983 в ремиксе Эрика Придза. Этот трек лежит у меня с 2006 года. Подняв архив, я только сегодня представляю это чудо в своем шоу, но как говорится "музыка возраста не имеет". Дэйв Шторн с красивейшим треком Dreambox. На пластинке две версии трека и на сегодня я выбрал оригинал. В дальнейшем я обещаю подарить вам и другую интерпретацию данной работы, уж больно засел в душу мне данный релиз. Дальше немного побороздим просторами классического прогрессив-хауса вместе с лейблом Mesmeric. Новейший валютный хор от Rodskeez погружает в этот мир, а рекорд компания Portrait вместе с полюбившимися мне Teana & Tiida продолжают прогрессив вакханалию программы. Данный выпуск шоу записывался в преддверии выхода альбома Trails We Blaze от британского музыканта Jody Wisternoff. Именно поэтому я играю один из треков маэстро в данном эпизоде, чтобы все услышали насколько он талантлив и уникален в своем звучании. Ну а то, что будет звучать дальше в эфире, я называю божественным звучанием моего радиошоу MAXIMUM. Тот звук, который мне так близок по духу. Я люблю как четкий современный хаус и deep, так и классический прогрессив - глубокий и мелодичный. От такой музыки я теряю голову, как настоящий фанатик своего дела. Финишная прямая отдана именно таким музыкантам как Эндрю Бейер, Стефан Кросс, Джеймс Грант, Паркер, Хенсон и конечно же Колина Фишера. Это Maximum House друзья, мой любимый саунд в радиошоу MAXIMUM.Приятного прослушивания и до новой порции МАКСИМУМА! Искренне ваш Lemon 4 aka Dreamer.promodj.com/dreameriTunes: bit.ly/1GmefEt1. Paolo Mojo - 1983 (Eric Prydz Remix) [Pryda Friends]2. Dave Shtorn - Dreambox (Original Mix) [FreeSound]3. Rodskeez - Dollar Chorus [Mesmeric]4. Teana & Tiida - Aspire (Original Mix) [Portrait Digital]5. Jody Wisternoff - Shivver (Original Mix) [Anjunadeep]6. P.O.S. - Gravity (Andrew Bayer & James Grant Remix) [Anjunadeep]7. Stephen J. Kroos - Phobos (Original Mix) [Anjunadeep/PROMO]8. Parker & Hanson - Afterthought (Soundprank's Deep 04 Mix) [Anjunadeep/PROMO]

A true veteran of the UK's electronic music scene, Warlock has been busily blurring boundaries through his DJing, production work and the output and associated parties of the genre-mashing Rag & Bone label that he co-runs out of south London with Noyeahno.   ^ Read Spannered's interview with Warlock.   Tracklisting:  Crooked One — Let Us Pray (dub) Crooked One — Voided (dub) Crooked One — Paradroid (dub) Crooked One — Annilhilation (Starksound) Komonasmuk v Whiteboi — Shankstep (dub) Soundbox — Ghost Train (dub) Elemental — Shiner (dub) Starkey — Shoulder Lean (dub) Hue Jah Fink & Kirsty Hawkshaw — Out Of Reach (dub) Blackmass Plastics — Nite boat (Dirty Needles dub) Komonasmuk v Whiteboi — Ayatollah (dub) Inasekt — Untitled dub (dub) Matt Head — Thrill Kill (dub) Matt Head — Skyjacker (Ruff) Inasekt — Bug Powder (dub) Warlock — Click Clack (Starksound) Warlock — Bish Bosh (Starksound) Sky City Rising — Fever Gasp (Brooklyn Beats) Kode 9 — Sniper Dub (dub) Aaron Spectre — Say More Fire (dub) Protocol X — Screwheads (dub) Warlock — Window Smasher (Rag & Bone) Drop The Lime — Come To Life (dub) Starkey — Let U Go (DTL remix) (dub)