Podcast appearances and mentions of Robin Hood

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heroic outlaw in English folklore, a highly skilled archer and swordsman

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Robin Hood

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Latest podcast episodes about Robin Hood

Option Trades Today
12/02/21 - NFLX & HOOD

Option Trades Today

Play Episode Listen Later Dec 2, 2021 9:53


Today, BAT's got two trades: one defined, one undefined. Consider this iron condor in Netflix or this combined long call spread / short strangle in HOOD.

Hacking Humans
Do you really want that device to be a connected device?

Hacking Humans

Play Episode Listen Later Dec 2, 2021 47:24


Guest Jay Radcliffe from Thermo Fisher Scientific shares his advice and security concerns with smart devices since the holiday gifting season is around the corner, Joe and Dave have some listener follow up about 2FA, Joe's got a story about the Robinhood breach, Dave's story is about numerous LinkedIn requests from HR specialists with GAN images (Generated Adversarial Network), and our Catch of the Day is from listener Michael who was just trying to sell his car and then he got a text message. Links to stories: Data Breach of Robinhood Trading Platform Blamed on Social Engineering, Similar to 2020 Twitter Breach LinkedIn Fakes: A Wolf in Business Casual Clothing Have a Catch of the Day you'd like to share? Email it to us at hackinghumans@thecyberwire.com or hit us up on Twitter.

Tardy to the Party
Tardy to the Party 319: Robin Hood

Tardy to the Party

Play Episode Listen Later Dec 1, 2021 126:43


This week it's finally time for some Animated Robin Hood! Is it the only good thing to come out of Disney studios in the 70s? Just how sexy is that fox? Why'd the shove some random kids in there? Find out on this week's Tardy to the Party!

AWM Insights Financial and Investment News
Superpowers of Investing | Brandon Averill, Justin Dyer | AWM Insights #89

AWM Insights Financial and Investment News

Play Episode Listen Later Nov 30, 2021 20:02


To be able to invest like a pro for the long-term you must adopt three investment philosophies:Let Data Drive Investment Decisions This means ignoring chasing the hot stock or crypto of the month and following the data that produces the best returns. Anyone that has chased COVID stocks this year like Robinhood, Peloton, or Teladoc has lost a ton of money. The same is true for those chasing the recent fund performance of Cathie Wood and ARK ETFs (tickers: ARKK, ARKF, ARKG) which have massively underperformed the market index. This same story plays out year after year in the markets and the costs to investors is painful to watch for experienced advisors. A new generation of investors gets sold the same false promise of shortcuts to wealth every market cycle. Stay Long-Term FocusedTime is the greatest superpower in investing. Being patient and ignoring the short-term is always easier said than done. It allows an investor to ignore their FOMO in the greed cycle of markets and suppress their panic when the fear cycle follows. Planning early and understanding how time can greatly benefit your wealth is not easy to understand for anyone yet it is and will always be the biggest driver to wealth creation. Customized Diversification MattersExcessive concentration creates unnecessary risk for generational wealth. Investing according to priorities reduces uncertainty while creating a tailored and superior investment experience.Risk tolerance questionnaires or age based investing philosophies completely ignore what's important to you. This type of investment advice isn't proper planning and does not set you up to create generational wealth.  EPISODE HIGHLIGHTS:(0:47) News: The Omicron variant of COVID has created uncertainty which rocked global stock markets on Friday. This is a big dose of uncertainty and markets react quickly to these type of events.     (1:39) IPO stocks so far this year are below their initial listing price. This is to be expected as the data on buying IPOs is not good for investor's returns.   (3:10) Jack Dorsey has stepped down as CEO of Twitter. (3:45) Being data driven is an investing superpower. This is a principle of investing that should be a part of your philosophy. (4:14) Long-term focus is another superpower. It is natural to overly focus on the short-term. Reframing your mindset to care only about the long-term can be learned and will produce better outcomes.    (5:06) You can't solve heart disease with a weight loss pill at age 65. You achieve better results by starting at a younger age with establishing discipline.(6:57) Why is it so hard to appreciate the long-term.(7:57) A portion of your portfolio should be invested in very risky assets to grow.(8:20) Dave Ramsey telling people to invest everything in equities and nothing in bonds without knowing anything about what they want to achieve in life is idiotic. (9:48) Time is the superpower of investing. Years and years of compounding returns creates exceptional results. Determining what “long-term” is for you is the key. (10:25) Don't wait to plan. Use time to your advantage. (10:54) How time helps with FOMO (Fear of Missing Out).(12:51) Taking your entire salary in Bitcoin is dumb. Excessive concentration of your wealth is never smart and will end badly.(14:07) Just owning bonds isn't customized diversification. High quality bonds owned to meet a priority is how a customized portfolio removes uncertainty. (15:58) Anyone that tells you they can pick the next Tesla is full of it. (17:00) Whether luck or skill created massive wealth is irrelevant. The risk to your priorities is too great to stay over-concentrated in 1 or 2 stocks. This applies to anyone including founders, venture capitalists, stock pickers, early crypto adopters.(18:45) An investment philosophy built with your priorities as the goalpost and invested according to those priorities removes the worry and a more satisfying investing experience along the way to generational wealth. 

Broke Millennial Finance Podcast
Ep 65 - How To Financially Make The Best Of The Holiday Season!

Broke Millennial Finance Podcast

Play Episode Listen Later Nov 30, 2021 8:41


In this episode, we talk about How To Financially Make The Best Of The Holiday Season! Help support us by joining our Patreon! (https://www.patreon.com/BrokeMillennialFinance) Check out our website for more content: (https://brokemillennialfinance.net)  Subscribe To Our YouTube Channel: (https://www.youtube.com/c/brokemillennialfinance) Here are the referral links for you to join to get your free stocks: Webull: (https://act.webull.com/i/QNmo8WB8Yzc2/ufl/) Robinhood: (https://join.robinhood.com/naveras-a23246) Coinbase: (http://coinbase.com/join/khan_st?src=ios-link)   Want to reach out to us? Email us at contact@brokemillennialfinance.net

Invest Like the Best
Francis Davidson - Design-led Hospitality - [Invest Like the Best, EP.253]

Invest Like the Best

Play Episode Listen Later Nov 30, 2021 53:22


My guest today is Francis Davidson, founder and CEO of the hospitality brand Sonder. Francis launched Sonder in 2013 as an alternative to traditional hotels and rentals with a specific focus on technology and design. During our conversation, we discuss where Sonder fits into the hospitality ecosystem and why design is so key to their offering. We also touch on Francis's unique views around customer-centric focus, the nuances of hiring a team, and how they approach decision-making. Please enjoy my conversation with Francis Davidson.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Robinhood, Marqeta, Grab, and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.   -----   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:38] - [First question] - Thoughts on the obligation of a business to deliver the best possible customer experience [00:03:43] - Making a decision that actively went against improving the customer experience [00:06:00] - What Sonder is and the key insight that led to building the business [00:08:43] - Ways they cut down costs by leveraging technology available today [00:10:44] - The economic model of the business and where it differs most from other hotels [00:12:15] - The journey of $100 coming in to Sonder and working through the company [00:13:20] - How the building or asset owner is integrated into the business model [00:14:18] - Network density and how he thinks about it when it comes to scaling Sonder [00:16:18] - His philosophy on design and why he thinks it matters in hospitality [00:18:05] - What you can overspend on and underspend on to keep a guest happy [00:21:05] - Making decisions on building in house or partnering to provide a new solution [00:22:29] - Do property owners dress up their own hotels or are there guidelines and retailers [00:23:51] - Lessons learned from working with overseas manufacturers [00:24:44] - The key levers that will drive the growth of Sonder [00:26:59] - What a typical occupancy rate is for them versus other hospitality options [00:28:23] - Category creation and design that influence and change how people behave [00:29:45] - Qualities of a new market and what drives success in attacking it [00:31:15] - His contrarian viewpoint on building a business and talent density [00:33:40] - The features of his job's product and the interview process [00:36:21] - Does everyone at a company need to be an A player? [00:38:00] - His philosophy on team culture and developing synchronicity [00:41:01] - Ways to build strategic competitive advantage inside of Sonder [00:43:22] - What the most successful version of Sonder will look like ten years from now [00:45:16] - New features and tech improvements that are coming soon he's excited about [00:46:48] - Trends in hospitality that have been accelerated and changed by COVID [00:48:36] - Growing changes in the glamping and nature-forward guest experiences [00:51:04] - The kindest thing that anyone has ever done for him 

Strong Sense of Place
Ep 31 — The Forest: Meet a Witch, Climb a Tree

Strong Sense of Place

Play Episode Listen Later Nov 29, 2021 53:50


For longer than memory, those deep, dark forests have been a symbolic, powerful setting for stories. The wildwoods of fairy tales are where we meet Hansel and Gretel, Little Red Riding Hood, Snow White, and Rumpelstiltskin. The Hundred Acre Wood is where we find Winnie the Pooh and his darling friends. J.R.R. Tolkein introduced generations of readers to the Ents in the woods of Middle Earth, and Sherwood Forest gave Robin Hood a hiding place for his merry men. The duality of the forest, the contrast between its beauty and its danger, resonates with us. The soaring treetops and dappled sun of a daytime forest form a natural cathedral where we commune with Mother Nature. But when the sun is low in the sky, the shadows take over, and the trees become a place of the unknown where almost anything can happen. When the words _Once upon a time..._ are spoken, all bets are off. In this episode, we get curious about the forest and recommend five books that transported us into the woods, including two fairy tales for adults, a nonfiction book that changes everything we think we know about trees, a white-knuckle thriller, and an ecological novel woven into a family saga. For more on the books we recommend, plus the other cool stuff we talk about, visit show notes at http://strongsenseofplace.com/podcasts/2021-11-29-forest Do you enjoy our show? Please support our work on Patreon! Every little bit helps us keep the show going and makes us feel warm and fuzzy inside - https://www.patreon.com/strongsenseofplace Books covered: Burning Bright by Nick Petrie Falling from Grace by Ann Eriksson The Bear and the Nightingale: A Novel by Katherine Arden The Hidden Life of Trees: What They Feel, How They Communicate — Discoveries from a Secret World by Peter Wohlleben The True Story of Hansel and Gretel by Louise Murphy As always, you can follow us at: Our web site at Strong Sense of Place Twitter  Facebook

None But The Brave
S03 Episode 05: The Legendary No Nukes Release/Bruce At Stand Up For Heroes (with Ken Rosen)

None But The Brave

Play Episode Listen Later Nov 29, 2021 42:27


In the latest episode of None But The Brave, co-hosts Hal Schwartz and Flynn McLean discuss the latest release from Bruce Springsteen & The E Street Band, a film documenting the 1979 No Nukes concerts that took place at Madison Square Garden in New York City. Hal and Flynn are then joined by Ken Rosen of EStreetShuffle.com to talk about much more recent Springsteen performances in NYC, this year's Stand Up For Heroes and Robin Hood benefits. Learn more about your ad choices. Visit megaphone.fm/adchoices

Elon Musk: The Evening Rocket
The Evening Rocket: Robin Hood

Elon Musk: The Evening Rocket

Play Episode Listen Later Nov 29, 2021 29:32


At the start of 2021, Elon Musk briefly became the richest man in the world. The global pandemic was a boom time for American billionaires, many of whom saw their wealth rise even as much of the world was locked down. As Musk, Bezos, Gates and others jockeyed for first place in the world's richest-man contest, the rise of cryptocurrencies was generating headlines about the fictive quality of money. “All forms of currency are acts of imagination”, says Jill Lepore: they require communal belief in their value - what economists sometimes call the Tinkerbell Effect. Musk started tweeting about Dogecoin - a cryptocurrency started as a joke, based on a meme about a dog - even dubbing himself 'The Dogefather'. Although Musk's tweets looked ironic, jokey, irreverent, they seemed to be having a very real and destabilizing effect on financial markets. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Last Archive
The Evening Rocket: Robin Hood

The Last Archive

Play Episode Listen Later Nov 29, 2021 29:32


At the start of 2021, Elon Musk briefly became the richest man in the world. The global pandemic was a boom time for American billionaires, many of whom saw their wealth rise even as much of the world was locked down. As Musk, Bezos, Gates and others jockeyed for first place in the world's richest-man contest, the rise of cryptocurrencies was generating headlines about the fictive quality of money. “All forms of currency are acts of imagination”, says Jill Lepore: they require communal belief in their value - what economists sometimes call the Tinkerbell Effect. Musk started tweeting about Dogecoin - a cryptocurrency started as a joke, based on a meme about a dog - even dubbing himself 'The Dogefather'. Although Musk's tweets looked ironic, jokey, irreverent, they seemed to be having a very real and destabilizing effect on financial markets. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Scarecast - Scary Stories & Creepypasta
S5E11 - 3 Scary Stories: We Should Have Never Messed With That Ouija Board

The Scarecast - Scary Stories & Creepypasta

Play Episode Listen Later Nov 27, 2021 30:01


Go check out the "Sleep Wake Cycle" horror podcast series:https://podcasts.apple.com/us/podcast/the-sleep-wake-cycle/id1589626495Blending supernatural horror with Lovecraftian storytelling, the Sleep Wake Cycle follows estranged twins Isaiah and Rosemary. Their mission, to fulfill a secret government agency's directive to bring the U.S. back from the brink of madness. Born with strange abilities, the twins investigate the wellness of a republic ravaged by the Great Darkness of 1999. With cults, conspiracies, and strange entities pervading society, the twins must investigate and survive - both the world around them and their own breed of post darkness psychoses.Check out the brand new horror podcast series The Sleep Wake Cycle on your favorite podcast platform.----------------------------------------------------------Discuss this episode on Discord: https://discord.gg/76hsEhuzCr----------------------------------------------------------Stories Used For This Episode:Story #1: “Our bizarre experiences with the forest behind our house eventually forced us to move out.” by u/Wispifiedhttps://www.reddit.com/r/Paranormal/comments/qia4ul/our_bizarre_experiences_with_the_forest_behind/Story #2: “Grew up in a 315 year old house and thiught all the strange happenings were normal.” by u/SpookyBjornhttps://www.reddit.com/r/Paranormal/comments/q37u9f/grew_up_in_a_315_year_old_house_and_thiught_all/Story #3: “My Cousins and I played with the Ouija Board.” by u/Ok_Hippo_5370https://www.reddit.com/r/Paranormal/comments/q900wp/my_cousins_and_i_played_with_the_ouija_board/----------------------------------------------------------Music by:CO.AG Musichttps://www.youtube.com/channel/UCcavSftXHgxLBWwLDm_bNvAMister Ambiencehttps://www.youtube.com/channel/UCrq1LdDgWYUlR47FBcNLN2Q----------------------------------------------------------LINKS: ► Linktree (All Links): https://linktr.ee/thescarecast► Discord: https://discord.gg/76hsEhuzC► Facebook: https://www.facebook.com/thescarecast► Instagram: https://www.instagram.com/thescarecast/► The Scarecast Store: https://thescarecast.com/store/► TikTok: https://www.tiktok.com/@thescarecast?lang=en► Twitter: https://twitter.com/thescarecast► Snapchat: https://www.snapchat.com/add/maddmikehorror► YouTube: https://www.youtube.com/channel/UCocibyDCoJe5mma8TjKv_XQ----------------------------------------------------------SHARE YOUR HORROR STORY (3 Ways):► Send your stories (written or recorded) to mike@thescarecast.com► Post your story on my #stories​ channel on my Discord► Request to be on The Scarecast Radio by filling out this Google Form below: https://forms.gle/gHjB2dLreM7gSqN66----------------------------------------------------------SPONSORS:Grammarly: Get 20% OFF Grammarly Premium by signing up at: https://grammarly.com/scarecastLiterati: Get Your $0.99 Trial by signing up at:https://literati.com/scarecastRobinhood: Get your FREE Stock Today by joining Robinhood:https://join.robinhood.com/michaec4649Uber: Get a FREE Ride Today by signing up through this link:https://www.uber.com/invite/michaelc43043ueUpstart: Lower your monthly payments today with one consolidated loan!https://upstart.com/scarecast----------------------------------------------------------Fill Out My Podcast Survey:https://docs.google.com/forms/u/1/d/e/1FAIpQLSdDKSnxz8UbMDqbaD9Hkbh957n-xOg64iAP1SKzNhgGiUfl5A/viewform?usp=send_form----------------------------------------------------------Text "scarecast" to 213-523-2890 to sign up for my text notifications, get notified every time I release new episodes, put out new merch, send bedtime stories, upload youtube videos, or for general announcements. Text Marking powered by TextSanity, go sign up so that you can explore their text marketing services to help expand your business! https://textsanity.com/If you can, please rate and review my podcast on your respective podcast player and share this episode with your friends!

Breathe Pictures Photography Podcast: Documentaries and Interviews
#270 Photowalk: National Geo's Best Pics! & the Extraordinary Tom Stoddart

Breathe Pictures Photography Podcast: Documentaries and Interviews

Play Episode Listen Later Nov 26, 2021 95:18


This week we're walking in Sherwood Forest, the legendary woodland 'belonging' to Robin Hood, making our pictures together and reading listener letters. National Geographic's Editor in Chief Susan Goldberg is my guest and we celebrate Tom Stoddart, the British photojournalist who passed away last week. Your letters include making photographs to celebrate a win over adversity, making ultra long exposure pictures from a tin can, Christmas in Copenhagen and dream photo retirements. The show is supported by MPB.com and our wonderful Patrons. See the SHOW NOTES.

Dimelo Champ
DÍMELO CHAMP EP. 14 : Juan José Cuevas - El Arte De La Cocina / Ser Intencional

Dimelo Champ

Play Episode Listen Later Nov 25, 2021 75:24


El chef Juan José Cuevas ha tenido una trayectoria de sobre 25 años trabajando para chefs de renombre en NY, España y San Francisco, y actualmente es el chef ejecutivo del Hotel Vanderbilt. Juan José nos habla de muchas cosas en nuestra conversación, pero sobre todo disciplina, consistencia y determinación. Ingresa a nuestra comunidad educacional de crypto por solo $20 dólares al mes. ¡Únete Hoy! en www.toshified.com Adicional obtén acceso a TODOS nuestros webinars grabados con más de 200 cursos que te permitirán adentrarte a éste mundo de las criptomonedas. WWW.TOSHIFIED.COM Gana dos acciones en Webull cuando deposites $100.00 (Valoradas hasta $1,400): https://act.webull.com/i/IoPOB3DsXQMX... Gana una acción con RobinHood: https://join.robinhood.com/joseg7943En REDES DE JOSÉ GALINDEZ: Instagram: https://www.instagram.com/josegalindezpr Facebook: https://www.facebook.com/JoseGalindezPR/ --- Support this podcast: https://anchor.fm/jose-galindez8/support

TechCheck
Cathie Wood's Latest Strategy, Underweight on Robinhood & Betting Against Innovation

TechCheck

Play Episode Listen Later Nov 24, 2021 42:46


Our anchors kick off today's show with Cathie Wood's latest strategy that she says is like “Ark on steroids.” Then, Bespoke Investment Group Co-Founder Paul Hickey joins to discuss inflation, cloud, semiconductors and much more. Next, JP Morgan Analyst Ken Worthington is here to talk Robinhood with shares down nearly 20 percent in the last five sessions. Then, CNBC's Leslie Picker is here to with the details on short interest at all-time lows. Next, we have Tuttle Capital Management CEO Matthew Tuttle to discuss his new ETF that is betting against Cathie Wood's Ark Innovation Fund. And later, Nutanix CEO Rajiv Ramaswami joins to discuss the company's latest earnings report.

Notnerd Podcast: Tech Better
Episode 311: We Break, You Fix

Notnerd Podcast: Tech Better

Play Episode Listen Later Nov 24, 2021 37:50


We cover a wide range of tech news in this episode and spend quite a while discussing what Amazon says are the hottest tech gifts of 2021, listen in to see if you agree. Followup:   Vizio makes twice as much profit on ads, subscriptions, and data (02:10) Standard eBooks (04:25) We missed the NFT.NYC conference (06:00) Dave's Pro Tip of the Week: Translate text with a tap (07:35) Takes:  Apple launching do-it-yourself repair program for iPhones (12:00) Amazon announces hottest tech gifts of 2021 (15:55) IBM launches 127-qubit Eagle quantum processor (26:05) Hoax email blast abused poor coding in FBI website (27:15) Robinhood data breach (28:00) Bonus Odd Take: Scan of the month: Minifig (30:30) Picks of the Week:  Dave: TORRO Magnetic Case Compatible with iPad Mini 6th Gen 2021 - Genuine Leather Cover with [Multiple Viewing Angles] [Wake/Sleep Enabled] (Black) (32:05) Nate: Ocenaudio free audio editor (35:20) Find us elsewhere: https://www.notnerd.com https://ratethispodcast.com/notnerd https://www.tiktok.com/@notnerdpod https://www.twitter.com/n0tnerd/ https://www.instagram.com/n0tnerd https://www.facebook.com/n0tnerd/ info@Notnerd.com Call or text 608.618.NERD(6373) If you would like to help support Notnerd financially, mentally, or physically, please contact us via any of the methods above. Consider any product/app links to be affiliate links.

Acton Line
There's no free lunch

Acton Line

Play Episode Listen Later Nov 24, 2021 59:08


In this episode, Eric Kohn, Acton's director of communications, sits down with David L. Bahnsen to discuss his new book, There's No Free Lunch. In his book, Bahnsen explores how the free market has enabled hundreds of millions of people to rise from the depths of poverty and achieve a higher quality of life. In fact, there is no better economic system for human flourishing. However, a contagion has begun infecting public opinion with regard to capitalism in general and free markets specifically. Call it socialism, progressivism, or leftism, more and more people each day are turning away from the time-tested free market that has been absolutely essential to the prosperity of nations around the world. The question is, Why?Subscribe to Acton Line, Acton Unwind, & Acton Vault There's No Free Lunch: 250 Economic TruthsDavid Bahnsen on GameStop, RobinHood and market populismAbout David Bahnsen‎Capital Record PodcastSirico & Bahnsen: Liberty & Morality in the Midst of Crisis See acast.com/privacy for privacy and opt-out information.

The Jason & Scot Show - E-Commerce And Retail News
EP281 - Mark Mahaney, author and top internet analyst

The Jason & Scot Show - E-Commerce And Retail News

Play Episode Listen Later Nov 23, 2021 55:38


EP281 - Mark Mahaney, author and top internet analyst  Mark Mahaney is Senior Managing Director at Evercore ISI, Research Division, he's one of the original and longest lasting internet analysts on Wall Street. He recently published “Nothing but Net: 10 Timeless Stock-Picking Lessons from One of Wall Street's Top Tech Analysts.” We cover a variety of fun topics including the beginning of his career with with Mary Meeker. His initial evaluation of EBay. His long positions on Amazon, Netflix, and Priceline, and butting heads with Jim Cramer over Google. We also discuss what's next for Amazon, and where the best investments of the future might be. Episode 281 of the Jason & Scot show was recorded on Thursday, November 18th, 2021 http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:00] Welcome to the Jason and Scot show this is episode 281 being recorded on Thursday November 18 20 21. I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scott Wingo. Scot: [0:16] Hey Jason and welcome back Jason Scott show listeners. Jason as you and the listeners know I am a huge scene in b.c. junkie and you can't turn on CNBC Durning Earth during earning Seasons without seeing Mark mahaney he is one of the top internet analyst. He was actually on recently talking about the artist previously known as Facebook meta Mark has a new book out called quote-unquote Nothing But net and is joining us tonight give listeners an early peek of what is sure to be the best seller in the bookmark covers some of our favorite companies including Amazon Apple Facebook / meta Google Netflix Twitter and Uber Mark welcome to the show. Mark: [0:56] Thanks for having me on guys. Jason: [0:58] Mark we are thrilled the chat with you is you know Scott is a huge Amazon fan boy so I anytime he gets a chance to talk Amazon he's excited. And I'm super excited because after tonight show I'm going to be smart enough to get rich like you and Scott so that's pretty pretty exciting for me. But before we jump into all that we always like to give listeners a little bit of a feel for our guests background and in your case I know I think you're officially the the oldest analysts on Wall Street is that true. Mark: [1:29] Well that's the oldest and longest lasting internet analyst on Wall Street but I don't look the part so how about we do that yes I've been covering Internet stock since 1998 do a series of bank said I started, working with this tremendous analysts her name was Mary Meeker her name is Mary Meeker and started the first Friday I was on Wall Street I got a call from the CFO of this tiny little online auction company that sold Pez dispensers and was looking to see whether any banks would be interested in their IPO that company was eBay so I wasn't there at the beginning of the internet but I was there pretty close to the beginning of the commercial for the public market to internet and it's been a fascinating ride and I thought there were a lot of lessons I could draw both from the successes the market and failures in the market and my personal successes and failures as a stock picker. Scot: [2:20] Cool what's so name some of the firm's so in my recollection you've probably worked at six firms like how many firms have you worked out over or that career. Mark: [2:30] Yeah now I don't want you to think I you know I jump around too much but I started off at Morgan Stanley also worked at Citibank Royal Bank of Canada. A small boot wonderful Boutique called American Technology research and I'm currently at evercore isi but I've been doing nothing but net. Hence the title of the book that's been my email tagline or always online is one of those two it's been my email tagline for 25 years but nothing but net and that's just doing my best to try to stay ahead of these internet stocks the early ones the the eBay's the Amazons the Yahoo excite if you might remember them infoseek. And then and then AOL and then and then later on some of the more Dynamic ones came out ended up with names like uber including most recently one you talked about Warby Parker so it's been a fascinating span and arguably one of the most dynamic. Parts of Wall Street I guess if you were working as an analyst on Wall Street. Or portfolio manager portfolio manager if you could have picked two sectors to be a part of to track over the last 25 years one of them has to have been the internet just how explosive it's been a been plenty of – explosions in there but there's been some wonderful wealth creation the other sector would probably be software just just too wonderful Industries I got lucky I was I was part of the internet. Scot: [3:49] Yeah I'm glad you didn't pick Mall Focus treats that would have been a bad choice. So you know as Jason mentioned there's kind of this auspicious title that you have of the oldest I would say wisest and most longest lasting internet unless. Tell us about some of the as you reflect in the book is kind of got some really good stories and you've been kind of on the front row seat of a lot of cool stuff maybe tell us what was your worst pick and best pick in the span of the career there. Mark: [4:22] Well I had a sale on Google it close to its IPO I was brought on to CNBC show and told by none other than Jim Jim Cramer that I was an analyst with a three-egg omelette on my face because of my cell phone call he was right I was wrong so you know one doesn't pretend one doesn't tend to forget moments like that on public television being told that you know you're pretty much an ass. But it does happen you know there are axes and then there are you know others and so I made plenty of mistakes I had to buy on Blue Apron although the lessons from that turned out to be different than I thought I got the call wrong but the lessons were different than I thought I kind of dissect that a little bit in the book. So those are some of my some of my worst calls I think my to my three best calls have frankly been sticking with a buy on Amazon for pretty much the last 15 years Netflix for the last 12 years and Priceline and now now booking for. [5:18] For a solid 12 years both Netflix of all three of those were really decades-long S&P 500 Best in Class stocks for a variety of different reasons and in the book I try to call out what were those reasons what were the what's that what's the pattern recognition so that you know we as investors can find the next Netflix and the next Amazon doesn't mean and Amazon and Netflix can't perform well from here but what are the things you can see in common that can help you as a stock picker you know kind of see ahead what really kind of started a lot of the the insights the idea of the book was this wonderful book that was written in 1980 called that one up on wall by Peter Lynch kind of a Bible or primer for anybody really looking to invest invest in the market with some wonderful advice and I really had any wrote it based on some wonderful examples of successful stocks and companies of his generation and I thought somebody needed to write one about our generation and you know these phenomenal money-making we know wealth-creating stocks that have. [6:19] That have soared the charts top the charts over the last 20 10 5 and even two years that have been dramatic dramatic winners from the covid crisis to I try to keep it long term in duration and frankly that's one of the big lessons I have in my book is. Is you know long-term I've found stocks do follow fundamentals they just do companies get bigger more Revenue more profits their stocks go higher almost always that's the case if you're a patient long-term investor so you can make money just investing you don't need to day trade and I think that was the last thing that really inspired me to write this book there about 15 million new. [6:53] Trading accounts that have opened up over the last two years you know the mean Traders the Robin Hood accounts and I just wanted to step back and say look you can have very good returns in the markets by buying high quality companies especially Tech and growth companies you don't have to day trade you can sleep better at night I got plenty of examples of companies that created wonderful. Shareholder returns over time and their stories you can take your time and really understand and stick with and anyway that's it this is this book is a little bit of little bit of personal Memoir but really more of a history of the Great. Companies and the ones that failed and then what are the lessons you can draw to apply going forwards. Jason: [7:32] Got it so I know it's not in your coverage area but you would have a buy on GameStop is that what you're saying no. I Nostalgia requires me to ask though I am staring right now at a pets.com. Puppet still in the box that's like sort of a Memento I have on my on my desk like we're you covering like those guys at the at the. Dot-com boom. Mark: [8:00] No no I didn't but I refer to that in the book and I make this I draw the comparison you know pets.com and smoke you know pets.com went public with trailing 12 month month revenues of 5 million I don't know if you heard that right five million dollars. [8:16] Trailing 12 months they had been an operating company for under two years I mean how that thing got out you know in hindsight is is is pretty shocking but wait a second go you know go forward 15 years and what came out. To e.com chewy.com went public with 3 billion in trailing sales and you knows the same sort of basic value proposition to Consumers it's just that the market was a lot bigger it allowed for a lot more scale and a bunch of other things came out o like cell phones smartphones cloud computing which allowed companies to scale up at much lower costs and so the markets really were proved out at that you know the time of pets.com there were three unknowns is there really an internet Market are there really good management teams and other really good business models today the first question is emphatically yes they are huge Market opportunities and they've been proven in in the Internet space advertising retail entertainment a lot of different ways you can cut it and there's some business models have generated enormous amounts of free cash flow and then there are yes of course there's always a few select excellent management teams who find that right combination it can be it's proven to be a great path to making money in stocks and chewy has been a stock that I've really liked since its IPO even though it's the next pets.com and that's the cynicism that people be placed in front of it when they went public. This was a very different puppy. Jason: [9:39] Yeah it does it seems like timing it seems obvious but timing is such a big. Part of all that you referenced Peter Lynch and I know you know there's. There's all the old Netflix stuff I actually started my career at Blockbuster entertainment and so in my in my industry everyone makes fun of Blockbuster that we got Netflix stand and all those sorts of things and I always have to point out. You know we sold Blockbuster for 18 billion dollars in 1995 like five years before Netflix was invented. Then it was a good business with a good exit you know every every business has it it's it's moment and it's time and you know the the railroads aren't the investment that they once were either. Mark: [10:28] Netflix is a fascinating story so let me let me let me jump to it a little bit you know one of the things the punchline of I asked people if you're going to remember one thing for my book I hope you'll still buy it but if you're going to remember one thing from my book it's dhq it's not DQ That's Dairy Queen dhq is dislocated high-quality companies and. You know time you mentioned timing I was thinking in terms of stock timing I thought those were your going to take us I think it's very hard to the time stocks but you know you can clearly see when stocks are dislocated I either traded off twenty Thirty forty percent so that's usually you know time if you think it's high quality asset and it dislocates them they all dislocate from time to time even the best highest quality names. That's when you can kind of Step In add the positions by the stock knowing that you in a way mitigated some of the valuation risk as investors your tries an investor you're trying to do two things mitigate valuation risk and mitigate fundamentals risk you know the chance that Revenue falls off a cliff margins get crushed the way you mitigate that fundamentals. Risk is to focus on companies with large Tam's excellent management teams great product Innovation and superb customer value prop and Netflix screen so well for me on those four things I'll just take this off super quickly if you don't mind. [11:42] The industry Vision so let's see Reed Hastings invented or started Netflix back in 1997 Netflix the name itself sort of implies that somehow we're going to be doing some streaming thing and this is a 1997 when it would have taken you four hours to download the first five minutes of Terminator like there was no streaming Market there but yet. [12:02] That was the premise of the company in 10 years later you know you look at the first initial interviews with Reed Hastings I mean this is where he was going to take the company all along so I was just giving him kudos for industry vision and the fact that he was willing to cannibalize his existing DVD business first dreaming business very few entrepreneurs can do that so management you know checks My Box customer value proposition the best way to tell whether a customer a company has a great value proposition is do they have pricing power will do people love it so much that they'll pay more for starting in 2014 Netflix started increasing pricing just about every other year and there's some ads accelerated that's a compelling that's evidence of compelling value proposition third is this product Innovation and you know they just don't have a lot of things not just streaming but there's a lot of these little tweaks that the side like binge watching you know kudos to Netflix for just rolling out new series all at once I mean practically invented binge-watching and of course you know they sort of invented the streaming thing or the people who founded music really did that but but Reed comes in a close close second on that and then you know I'm finally in terms of Tam's large Tam's total addressable markets. [13:13] You can add it up a couple of different ways but you know home entertainment video consumption it's it's a couple of hundred billion dollars in total you know Market opportunity and then who knows these things come along like smartphones and all of a sudden the majority of usage is on smartphones that tells you that these markets could be a lot bigger than we traditionally thought just like Spotify blew out the market for what really could be music advertising revenue and music subscription Revenue Netflix is did the same thing with me with Video subscription Revenue they blew up the tan they made it a lot bigger so that's right you know I love that story about the stories about Netflix I gave him a tremendous amount of Kudos I think the sometimes people under appreciate just because it's kind of a singular company just you know video video streaming I think they I think they don't get enough credit for what they've done and what they could still do because I think there's still one more one more trick up Reed Hastings sleeve and I think it's gaming and he's reached they've received such so much skepticism about this pivot or missing expansion in the gaming but you know management team to figured out dvd-by-mail streaming original content International expansion mount give them the benefit of the doubt that they can figure out an Innovative new way. To deliver gaming and therefore further increase their value proposition you'd want to stick with a company like that I stick with the stock like that. Scot: [14:34] Ever kind of a random question let's say there was I'll pick something at random a company that was Reinventing Car Care and making it mobile and digital would you call that a dhq. Mark: [14:45] I think that yes yes absolutely. Scot: [14:51] All right leading the witness. I do have to give you Kudos because in the Netflix section you do have a Star Wars reference you talk about the Disney death star which is which is appropriate because they now own the Death Star it's got a part of there is one of their IPs. Mark: [15:09] But by the way that was you know there were a couple of Netflix there's a rocky stock Rocky stock here that's right that's a that's a rocky stock for you it's had there were two times they miss Subs because of uncertainty over the price increases and they got some pushback it was an obvious that they had pricing power but they proved it over time and then they've got this great competitor risk with Disney and I think what the market missed on that this is just kind of leaving aside the book of just talking about stock picks is you know people are going to sign up for multiple streaming services now not now not five six or seven but they'll sign up for two or three if there's original content and they have original content I mean there's some things you will you have to sign up for Disney Plus for if you if people are like use God and you know dramatic. [15:52] Star Wars fans of course you can sign up for Disney plus but you know there's because its original content if you want to watch squid game there's one and one only place you can go for that and you know there's going to be another squid game or you know another show that just kind of breaks through the site-geist and by the way that's where Netflix is so I'll leave Netflix aside but I'm so struck by is this company shapes the Zeitgeist whether they can cause a run on chess board sales worldwide with the Queens Gambit a year ago where they can cause more people start studying Korean on Duolingo a language app which I actually like is the stock because they can you know they've introduced this show squid games like when a company reaches the Zeitgeist when they when they become almost like a lucky lexicon like they become a verb like I'm gonna google that or you know it's the Uber of this that or that you know that's that's something special and those are usually stocks that have gotten very long runways. Scot: [16:44] Yeah and I'm here in North Carolina and we have all these MBA we have all these universities and I was actually speaking earlier this week at MBA class over at Duke. And you know I have this whole little joke track that I do where I talk about my first company was profitable and I learned I could never raise VC because get the TV season that's a your profit we don't invest in property companies so yeah I often joke that I've been doing it wrong and ever since then I haven't made a dime. And I kind of thought it was those funny because you kind of. The internet sector was kind of early before SAS where and you point this out where there's kind of you know what we learned is there is an investor that loves Revenue growth and in a way that the opposite side of that coin is it can actually hurt you if you start to make profits maybe share with listeners that that you know probably many of them come from traditional businesses where that sounds nonsensical maybe maybe explain kind of what happened there. Mark: [17:41] Well I want to be I want to be on to get nuanced here which is you know I that chapter that says the most important thing out there is revenue revenue revenue you know for tech stocks and growth stock. But of course earnings and free cash flow matter it's that sometimes the public market is a lot longer term focused than people give it credit for Netflix is a great example that also is Amazon. I mean those those businesses had if you look at near-term valuation PE metrics price to free cash flow there's no way you would have bought those stocks. But what I think long-term growth investors realized is there's this you know when these get these assets that can grow their Top Line twenty to thirty percent Plus. From scale for multiple years like that can that creates an enormous amount of value over time and it's so rare I came up with something of a 20% rule you know it's one to two percent of the S&P 500 that can consistently grow at from scale their Top Line 20% which is like five times faster or six times faster than Global GDP growth so it's rare for good reasons but those companies dramatically outperformed the market because they're rare and it's not like growth and scale solve everything but geez they solve a lot of things I've yet to see it's got you know you go way back on this I'm sure you had these comments like Amazon will never turn a profit my first year on the street. [19:04] There's a person who's not one of the most influential investors out there put his finger in my chest. And said you know Amazon will never be profitable and you know I guess he must have been writing he was so smart but he was wrong because he didn't realize just what how powerful Amazon could be as it's scaled over time I mean you generate billions and billions in revenue and you can you can run over a lot of your fixed costs as long as you're not selling dollars for 95 cents you know if you're you know if you're selling them for a dollar and two cents and then you get scale against your fixed cost yeah scale will solve just about anything and I look at what happened with Amazon and I've looked at more much more recently its bring it up to up to date to Uber Uber just printed its first free cash flow quarter ever even though it's Rideshare businesses like down 40% since Pre-K covid levels how the heck did they do that because it took a lot of costs out of the business and then they had this delivery business that really scaled so look earnings matter it's just that when we look at tech stocks and growth stocks you know especially early on is IPOs they rarely go public. As profitable businesses the question you have to answer yourself is can they be profitable long-term are there companies that are already you know similar business models that are already are that's one way or their segments of the business that are already profitable. [20:19] Is there a reason that scale can't drive profitability for the company and the fourth what I call profitability Action question that detail this in a book is yo Are there specific steps steps that the management team can take to bring the product the company to profitability so I've yet to see a company. [20:36] And I'm sure there are some but I've yet to see one that hit the public markets that couldn't scale itself to profitability now some blew up. Well you know that's because they couldn't hit the enough scale so that's that's kind of my answer to the question of yes of course earnings and free cash flow matter at the end of the day that's what they're going to be valued on but just watch these companies that they really execute well they can take what looks like really aggressive valuations and overtime those valuations can turn awfully awfully attractive and a lot of times the stock wealth creation goes from point A to point B it doesn't start at point B. Jason: [21:10] Yeah the you know it's you mentioned then the Netflix. Effect on the cultural zygous fun fun stat on Queen's gamut it drove the sale of millions of chessboard and caused hundreds of people to start playing chess. I do one of the things that comes out strongest in in the book to me and that you alluded to upfront is sort of the difference between trading and investing. You know I always have people come up to me and they're like hey you know a lot about these retail companies what's a good investment and I'm like. I have no idea can you can you talk a little bit about sort of what you mean by sort of fundamental investing versus trading. Mark: [21:56] Well I sum it all up in the pithy expression don't play quarters I find playing quarters is almost a Fool's game the number of times I get questions you know what should I buy for the quarter and for little sophisticated institutional investors that could be I've got a position in. [22:15] Amazon or Google or Twitter and you know do I should I be you know heading into the position prior to earnings or you know facing back and adding to it more afterwards okay that's a different setup but if you're just playing a company for that quarter pop the problem is quarterly earnings reactions there's two things that drive them. Fundamentals great get the fundamentals right that it's expectations so the quarter trades are really about expectations you may get the quarter right you may be right that Nvidia or Roblox are going to have super strong quarters because I see how many of my friends kids are all over Roblox you maybe well right on that but you have to know you know what the market is actually expecting and numbers can go Revenue can accelerate but if the bar is higher than that then you're going to see these stocks trade off it happens a lot so I just unless you're unless you're a pro less you're in day in and day out. You know working working these stocks and really have a sense of where the expectations are. I think it's just a Fool's game to play play stocks just four quarters instead you know you want to stick with stocks for the you know you want to find an asset that you think is going to be. [23:29] Materially bigger in two to three years down the road and you think it's high quality based on some of the screens I threw out then stick with that name and don't try to play around the quarters and it's in fact sometimes you can use weakness or strength around the quarter to adjust your position but don't use it too initiator close out a position at the then you fall trap to these expectations game that is very hard to participate in if you're just a regular you know retail investor and you can make just as much money just staying invested in some of these great assets. Jason: [23:59] That is great advice and it's I certainly resonate with the sticking with the Investments I am curious though on the other end of that on the really long Horizon you mentioned you've you've been had a buy on Amazon for like 15 years. Wait. Like are you going to have a buying them for the next 15 years is that how I mean like does there come a point when they achieve their potential and you have to start worrying about them getting on the other side of the Hill. Mark: [24:26] Yeah I think you can I think you can one look for the fundamental towel and so I'm going to I'm going to spin over to another stock I talked about in the book Priceline. Which is actually the single best performing S&P 500 stock for like a 10 year period 2005 to 2015 phenomenal stock travel name everybody knows it William Shatner excetera although they're real secret sauce with what they did in European markets but. But that's a company that you know sustained premium growth like they were growing their bookings in the revenue 40 percent year over year for years and years and years and years and that's what powered that that that stock and when it stopped materially ah performed Market was when the growth rate decelerate it below 20%. [25:10] And so I don't want to you know create a hard and fast rule but I do feel strongly about this twenty percent rule 20 percent you know we're close to it you know don't don't Nick me at 19.8% you know could close to twenty percent is unusual rare growth. [25:23] And the markets usually pay up for that and when you see a company over time either because of Miss execution it happens or Market maturity and their growth rates you know kind of slide below 20% then that's when you reconsider your position that's a simplistic rule as a lot of caveats to that when I see with Amazon here is despite the size of this business I think they're still growing 20% for the next five years so in that if that's the case. [25:48] You know the simple rule of thumb is companies that can grow like. They can I like to see stocks that can double in in three years in order to do that you kind of have to do you know 20 to 25 percent earnings growth that's what a Maps out too. And you know you can double a stock in 3 years your handily beating the market in almost all time periods. And so when I see what it'll change my opinion really on Amazon is if I believe that this company is going to go X growth it's going to go you know well below 20 percent Revenue growth I just don't see that in the next couple of years given how much growth they have in retail in NE ws and cloud computing and in some of these really newer areas that I'm really interested in whether they really can crack the code on groceries and they can that's a large opportunity and business supplies Industrial Supplies I think that's a very underappreciated part of Amazon's business so I don't see myself changing my opinion on Amazon although you don't want things that we talked about this earlier that I love to see your founder LED companies that's no longer the case with with Amazon so that's you know at some level I've got slightly less conviction than the in the by case but I'm going to stick with it as long as the numbers prove out right and long as I can see this path that's consistent 20% Revenue. Scot: [26:59] Yeah and this is kind of breaking out of the book thing but since you brought up Amazon it wouldn't be a Jason Scott show if we didn't kind of double click on that what did any thoughts on the Q2 and Q3 earnings feels like they're slowing down a bit and feeling some of the labor and see what we call Supply pain on the show are you are you getting nervous about it or you think it's just a little one of their little kind of investment phases. Mark: [27:23] I called the six billion dollar kitchen sink that's how much lower their guidance was for operating income in the December quarter then then what the street was looking for like she was looking for close to eight billion and they guided to billions six billion dollar kitchen sink and they threw it all in there wage inflation you know you right you drive that route 95 on the east coast and you'll see Amazon Amazon is hiring Billboards up and down the East Coast Seaboard I did it recently so yeah they're aggressively hiring at higher wages that's impacting their margins there still some covid related cost shipping they're just not able to a sufficiently source and bring in product and so they have to bring in product into the the ports that aren't optimized for their distribution Network so just a lot of. [28:14] Positive blowing up now the question you have to ask yourself as an investor is are those are those cost increases elective structural discretionary temporary it's kind of like which of those are they the more that you can make a determination that the cost bikes are temporary the more you stick with the name if you think there's something structurally changed about Amazon okay that's different I don't think there's anything structurally changed about Amazon and certainly not its competitive position and then the last thing what I really like to see. [28:44] Frankly is this company. I mean the level of investment this company is making its distribution Network you know you talked about Facebook earlier they're dumping 10 billion into the metaverse which I think there's a there there but I don't know Amazon is dumping billions and billions into its own Logistics Network like they're doubling down on their core competency you bet I'll stick with that and what they're going to what's going to come out of that is even faster and faster delivery and they're going to prove out this concept what I call shipping elasticity the faster you ship the more that people are going to use you in a more of their of the more of their wallet and per-share you're going to Amazon's going to get so we're going to actually going to Super up one day delivery and then they're going to Super up super same day delivery and I think they'll be able to just grab more and more and offer more and more products to people so I like those kind of investment initiatives so I think a lot of that margin pressure by the way it was really due to these kind of elective investments in the infrastructure they added more distribution capacity the last two years than Walmart has in its history. That's how aggressive Amazon is being an eye you know my guess is that third we're going to see dramatic market share gains from Amazon in the next 12 months so I like those companies that kind of really lean in bendin and the double down on our core competency that's what the Amazon is doing now. Scot: [30:00] Yeah. The Press is making a lot of noise around Shopify versus Amazon and Shopify is kind of amplifying that with they're arming the rebels and everything. Jason Connor makes our I won't say his thing but he's not a believer in that I think it's kind of interesting in there's definitely no love lost between the company's what what's your take on that is that a real battle or is that just kind of genda by to kind of raise awareness for Shopify. Mark: [30:26] You have a quick point of view on that Scott. Scot: [30:29] I think Shopify becomes a Marketplace adjacent thinks that's crazy Jason what do you what I'll let you state your own opinion. Jason: [30:38] Yeah I mean I think Shopify is a phenomenal company and a good executor so I'm not throwing rocks at Shopify. They're to me they're not a competitor to Amazon they don't acquire customers they have no traffic there there. Piece of infrastructure and a great valuable piece of infrastructure but a piece of infrastructure. Doesn't draw any customers in so I call these people that are like oh man they're like Amazon they have all this aggregated gmv and they could sell ads to it and they can you know recruit more sellers because they have this this audience and all these things will they don't have any of those things they don't have a single b2c marketer. In their company and I would argue that's that's been one of Amazon's Court competencies is they've they use the flywheel to build this this huge audience that they get to sell all the. Their goods and services to so I just I don't think. They compete in any in any meaningful way and I think if Shopify were to try to become a true b2c company like Amazon. It would just be a phenomenal pivot it would be you know. Can't you know obviously they have the resources to fund trying for it but I'm not sure that's the best move for them. Mark: [31:57] Yeah I don't so I Do cover Shopify I've been really impressed with them I don't know them as well as I know Amazon but I've been super impressed. With them and terms of the product development and they are just providing more and more services to small Merchants so I think there's an are now bigger than eBay in terms of GM vo but I can never there's not enough disclosure to figure out so where's that GM D coming because I think some of that probably does come through eBay so a little bit of double counting that goes on in there but it's really impressive what they've pulled together whether they can actually aggregate demand in a way that Amazon has I think that's I think that's unlikely I think that's a very hard thing to do it's possible they do have a shop app I just, yeah I guess that's the action question we often ask ourselves do you think you're going to use the shop app to shop. [32:45] I don't think so I don't think people are going to do that but you know if they can get enough people to do that boy they will have really they will have some really circled it that you know because they got the infrastructure okay they're talking about building out fulfillment and doing fulfillment for people and spending a billion dollars on it sorry my friends you're gonna have to spend a heck of a lot more than a billion if you if you really want to you know compete. Because the bar is getting higher it's not getting lower it's getting higher in terms of funeral the speed of delivery eBay learn this the hard way and so shockfights Memphis spend a lot more than that so anyway there's a lot of wonderful things about Shopify and I don't know whether if you listening to slammed on by if you think they can build up an aggregate an audience I don't think they can so does it make doesn't make it a slam dunk by it's it's you know it's a deep three point shot put it that way. And you're not Steph Curry. Jason: [33:41] I think we're going back to the basketball references in the book. Yeah it you know I tend to agree I'm not I don't think the shop app you know has attracted an audience that uses it for shopping yet it's a shipping trapping tracking app at the moment. But the it is funny like there are lots of companies that facilitate huge amounts of gmv so I think of like. Excuse me and Akamai is a. Is a CDN that's that used by almost every retailer to help help sell stuff right and so if you said well what's the CD the gmv of Akamai well it's bigger than Amazons. Um but that doesn't mean that Akamai can compete with Amazon so yeah I don't know. [34:28] I do want to go back to Amazon earnings just briefly because I you know I think a lot of the Slowdown is kind of a covid blip and I don't know if you ever think of it this way but. They're there their times in history when. It feels like the external factors aren't a big influence and and you know some companies perform really well and other companies struggle so you know there could be a year when you see Home Depot doing really well and lows struggling and you say. There's something special about Home Depot that I might be interested in investing in at the moment it feels like the external environment for retail is having a. [35:07] Sort of a consistent effect on everyone right and so you look at the industry average is you look at all of them is on Spears and they all have sort of the same shape of deceleration. That Amazon has so it's to me it's hard to attribute that to some. Some fundamental flaw in Amazon but there is one thing I noticed this quarter that it was interesting and I wanted to get your opinion about because I know as an investor you like seeing companies that have pricing power. And you know of course Amazon famously raise the price of prime a while back and seems like that was wildly successful this quarter. They've raised the price for grocery delivery there now charging ten dollar delivery fees even for Prime members. And then this week we saw that they made a pretty substantial increase to the cost of f ba which is you know the fundamental service used by almost all marketplace hours and they they just raise the price of that by like five percent and I'm curious do you look at that as a good sign that hey. They have pricing power and they're doing so well that they can command those prices or to me it's a potential warning sign because I feel like Amazon is so. Zealous an advocate of the flywheel in the flywheel is all about driving costs down to get scale up I just was surprised to see some of these like price increases in in you know. Especially grocery which isn't super mature yet. Mark: [36:33] Well I'm not sure really of the answer to your question Jason it's a it's a it's a really good thoughtful question on the on the groceries I think they raised it because the unit economics were just not working for them in terms of grocery delivery that's that's my guess they also you know yet to have that get to really crack the code on the grocery business and so I sort of see that as they tried it and it just can't right size the economics of they got to charge more for it so I read that kind of negatively what did the raising fees to sellers. But my guess is it's a mixture of things but it's largely driven that my guess is that this largely driven off of Just Rising. [37:17] You know Rising infrastructure costs have been rising shipping costs I mean Rising the two costs that they called out specifically on the earnings call my recall is correct is our steel costs because of all of that dish construction they're doing with their fulfillment centers and trucking services and so my guess is that they've they're doing is not necessarily the right size the economics is I think the economics are working but because they want to try to keep their unit economics relatively intact. And that's sort of the way I think they thought about the raising the price of prime it wasn't they did it because they could. It's they did because they sort of had to like the costs are rising it's just that what I found interesting in terms of pricing power is van acceleration in in Prime ads you know post that price increase like that and so does Netflix to me Netflix is essentially raise fees use the fees to you know generate more Revenue by more content is like a flywheel that they've worked with their make the service more bringing more users allows them to get a little bit raised money just a little bit more so it's not so much raising fees to extract excess profits it's raising fees to further accelerate growth and the value proposition is strong enough that they can do that and not lose customers that's that's that that there's this is subtle nuance and maybe it's too salty but but I think it's an important it's important difference it's not it's no it's raising pricing not to raise margins it's raising pricing to fuel growth. [38:46] And when you so either way it's good I happen to think you you want to the the better one is the latter one is a more impressive the latter one is more impressive because you're raising pricing just to Goose your margins you know you just put a Target on your back. Scot: [39:03] Reading the book made me nostalgic and maybe we'll do a little bit of a lightning round but one of the companies you wrote about that I kind of forgot about and those interesting was Zulily I remember when they came on the scene and we were all like. They were all blown away by how fast they could just get product up right they had this thing where they could. They could have most of those kids so they'd get like all these little kid models in there and throw some clothes on them take a picture and then like changed outfit take another so they could do something like you know thousand different products an hour or something. What's your recollection on Zulily. Mark: [39:40] She really is that was one of my calls that didn't work and. So I and I learned some lessons from that I think to me the lesson I drew a to do with value proposition they had wonderful cohort disclosure in their S1 when they went public I mean it was truly impressive. And you know the they also raise kind of an analytical question because the first it's not too dissimilar to stitch fix today the first three or four million customers were extremely happy the question is. Were there another three to four million customers that could be extremely happy and the problem that Zulily faced is that it customer value proposition had one major flaw which is that you couldn't return product if you didn't like it they didn't they didn't accept returns oh I'm sorry there were two problems and there was no Speedy Delivery you know you could get stuff in seven days and 20 days. That was good for the first day of the first three to four million customers who are fine with that you break into the mainstream and you mean I can't return something if I don't like it you mean I gotta wait how many days until I get something like that ended up. [40:45] And it was very hard being the survey you really had to go with gut instinct on that to realize in advance that they were going to hit a wall in their growth. Geez when you saw what happened to their growth rate when they went public it was Triple digits six quarters later they were doing 10 percent Revenue growth they hit the wall because the value proposition. Wasn't strong enough and then they end up going going private that to me was kind of a lesson which is you know the. [41:10] Growth was impressive but that value proposition if it's not if they hadn't they didn't have it nailed down and you knew from the beginning I knew from the beginning what the two Falls were I just I didn't know when it would hit them and hit them earlier than I thought so you know it gives us another reason to really focus on how compelling do you think this value proposition is how many you know will that can the can a customer base double given the existing value prop. And that's one of the big lessons if I spin it a little bit I mean that's to me is and Scott you look through this entire history like you know the first decade of the internet the king of online retail wasn't Amazon it was eBay and they had like six times seven times the market cap of Amazon that's completely changed and why is it change and I think in part it's because of the value prop I mean Amazon just beat him on price selection and convenience year in and year out and that really mattered but a more recent example in my book. [42:02] In literally and figuratively is doordash and GrubHub and that's example many people will will know but grub have that great business model wonderful investor Centric business model High margins and doordash had this you know generating tons of losses but they had the better value prop because they had more restaurants selection and the end of the day that they want and they were able to scale up and generate serve reasonable profits over time that was the case where my quick tag line is you know customer-centric companies. Beat investor Centric companies most of the time in market cap and market share Amazon versus eBay, GrubHub versus doordash those two examples really drilled that less than to me. Jason: [42:48] Yeah I've been fighting those companies because you know there. They're like increasingly overlapping with a lot of my Commerce clients and like you know a big. A big sort of disruption and commerce right now is all these ultra-fast delivery services and you know it seems pretty clear that doordash and Uber are both gonna want to play directly in that space so it seems like some of those those sectors are on a collision course to chase that Tam. Mark: [43:15] I think you're right Jason I also think Amazon I mean you're talking about logistics like that's Amazon's competency so whether you need to. Whether you're going to vertically integrate and do that or whether you going to do that virtually you know Foo you know a gig economy Network. I don't know which which is going to work better long-term but yeah and you know it's going to raise the bar and make it more and more expensive for anybody to operate in that in that segment I have a bias that Amazon in the end wins that but it's big enough of a market it's so early stage that you can have multiple winners for the next five years I don't know that you can have multiple winners for the next 10 years. Jason: [43:56] Yeah there was a funny question in the Amazon earnings call someone asked about ultra-fast delivery in the CFO kind of I thought brilliantly threw some shade on it he's like. He said something to the effect of we like where we are and ultrafast like we have one hour delivery on about 178,000 skews right now and we're you know we're going to continue to scale that and I don't know how many people follow this but all of the competitors in this space are are desperately trying to figure out how to do one hour delivery for like 7000 skus. So so like they're you know they definitely are gonna be able to leverage the infrastructure there and I'm sure they're making some big investments in that space too. Another area that's that's been kind of interesting lately and I know you've been following this little bit is obviously there are all these privacy changes and the depreciation of the third-party cookies and especially the IDF a you know mobile privacy changes. That Apple has instituted and that obviously had a pretty pronounced impact on the value of some companies like Snap recently A View you have a opinion there is that. Is that a blip or is that a systemic change. Mark: [45:08] I think it's a big pothole in the road. But it's not there but the but the it's a big pothole in the road but it's not a bridge that it's not a collapsed bridge that get that mountain out. Yeah so poor that hey yes. Yes it is yeah that's it that's pretty I mean that's a big pothole that idea Fay allowed Facebook to offer amazing attribution to millions and millions and millions of businesses and now that's gone and and and to their credit to Facebook's credit they warned about it for a year two snaps discredit they didn't warn about it ever and so that's why their stock went off you know 22 decline 25 percent whereas Facebook stock even the numbers came in weaker than expected you know kind of fell off to the 3% and by the way then is traded up above where it was at earnings time so what I mean very intrigued by is I think it will be a son of that idea of a. [46:12] You know child of idea say I like I think there's so much at stake here both from the advertising platforms like Facebook you know and Google's to some extent a little bit and Snapchat but also for you know the millions of marketers out there who you don't you were able to thank thanks to Facebook use of people's privacy data you know from right or wrong I mean that's what that's what they they did I mean this help Merchants really know which of their campaigns worked and allow them to you know run creative and that creative could be automatically you know a be tested abcdefgh like 8 times 8 different ways in which ever those creatives work best. You could actually beat successful one of them then you can just pivot all of the dollars behind that one campaign you know campaign h for campaign be your campaign e.e. and that's just a wonderful way to help these small businesses you know really succeed and that's been taken away now you know there's I think there's first a little bit of shock shoot I can't get the attribution I had I'm going to pull a my marketing dollars but marketers got a market. [47:13] And I think you're going to see those dollars come back and my guess is that Facebook and other companies are going to find some way to do. Better targeting they may not quite get to idea that a type of levels but they were going to be able to do some sort of audience targeting they also have a lot of first-party data but they'll be able to do it in a way that doesn't that you know respect people's privacy and yeah you'll see those dollars come back so that's why I referred to as a pothole I it's a big pothole it's but it's not that it's not a bridge that just collapsed you know you're going to be you can they can they got stuck in that pothole more than anybody else but you know the cranes there whatever they're getting a tow trucks they're they're getting out of it they got to do some nobody work they'll fix the car and it'll be back on the road in part because they've got the talent to do it but in part because there are millions of small businesses that are given to going to give them the incentive to do it because they'll get those marketing dollars back once they figure out some of the idea that a. Jason: [48:09] Yeah I always like to remind people that are like The Skys Falling on the advertising industry that you know. It wasn't very long ago that we had much worse targeting than than we have in digital even with idea of a I mean targeting used to be deciding which publication you were going to print your ad in. And they still got a lot of money in the advertising industry so like I kind of suspect that that marketers are going to figure out you know the best ways to invest their money even if it maybe isn't quite as. As real-time as people got used to for a short while. Mark: [48:42] I think you're right Jason. Scot: [48:45] So Mark you in the book you recap kind of this awesome 25-year career and you know one of the things I've learned is if you're in the game of making predictions you know that it's kind of humbling but then you kind of slowly but surely get better at it right you never get to kind of you know a hundred percent but over time you get better and like like for example you learned the lesson of. The companies that are customer focused to do better than investor focused think founder based in that kind of as you as you take those backward 25-year learnings and project them forward what are some of the things that you get excited about looking out the next five or ten years. Mark: [49:23] Well in terms of Trends even the next year or two I think whoever solves. Marketing attribution is going to be worth a lot more in two years than they are today just because there's so many businesses so many marketers that will pay for that. So I you know so that's that's kind of a debt that whoever whoever fills in the pothole that's going to be a very valuable company it's going to be a lot more valuable to years and it is today my guess is that there's gonna be Facebook so I'm interested in that then there's thing this thing called The Medic verse which I don't know this is just virtual reality just renamed do a Google Trends search on metaverse just watch that just spiked up in the last love so you know you kudos to the person who came up with that idea may be excited maybe Jason or Scott maybe was you I. Jason: [50:09] It's just a rebranded second life. Mark: [50:12] Okay and. But but you know the fact that it was two things that kind of struck me there's some pretty big companies throwing a lot of big money at metaverse you know Facebook Microsoft there's a bunch of others and then there's this Roblox generation people young people who are perfectly comfortable living in the meta verse in virtual reality and. [50:38] You know participating in concerts safely and you know and shopping and communicating and entertaining and learning. [50:49] And learning through the metaverse and so you know we knows 8 18 year olds you know get out into the real world you know they're going to be perfectly comfortable in the meadow verse maybe not the way you know not the way that we will naturally be but you know though they'll help us figure it out and so so I'm really intrigued by the metaverse I think it is going to take 5 to 10 years because that to really develop and I'm trying to trying to figure it out who the big winners are but but I'm very intrigued by that. [51:18] Yeah I'm also got one of those oculist you know I've gotten two different versions Generations the it's the iterations of the Oculus Rift and you know i-i've always it's kind of like when I first saw the Kindle you know the first Kindle I ever got was pretty darn kludgy but you know I just love the idea that you could just download any book on the your kludgy device will you know whenever you whenever you were in a Wi-Fi area and and I and you and you just saw how that device got better and better each iteration and so I just think about that with these with these virtual reality headsets I mean they're clumpy their clunky their kludgy it's kind of embarrassing to be have a picture of you taking them but you know just you can imagine already know how much they've improved over the last couple of years and just think ahead is it possible the next five to seven years it's going to be just it's going to be like putting on a pair of sunglasses I think that's what we should be thinking about if you can easily put on a pair of sunglasses and and enter the metaverse and have you know share a virtual you know in presence experience that sounds but that sounds odd or not but you can do that, I think a lot of people will do that and you know the education the work applications around that so I'm very intrigued by that. Jason: [52:28] So you're saying that that could be chewy.com to Google Glasses pets.com. Mark: [52:36] Yes yes I love that yes I hadn't thought about that way yeah and by the way I've got my Google Glass here you know I'm. Got that I got that early version I got the Amazon Fire Phone you know but just be the the early failures sometimes see these I mean they're kind of in the right direction I don't know exactly what there's a there's a backstory to Google Glass that we only partially know but anyway they have the concept is there and and you know the big iterations that these products do get better and as they get better easier cheaper lighter cooler you know like Main Street cooler not Silicon Valley cooler then then markets can appear. Scot: [53:17] I think that's something the three of us have in common I think the three of us are probably the only people that ordered and probably still own an Amazon Fire Phone. Jeff Ellis. Mark: [53:29] And I've Got My Socks.com puppet to it's in my office I put the hits I got it as a warning. Scot: [53:31] I have one of those too yeah we all I guess we all have one of those too. Jason: [53:36] That that puppet ended up being the most valuable asset from pets.com sidenote like I don't know if you followed it but there was there was there was a whole intellectual property fight with Triumph the comedy dog and all that stuff yeah. Unattended value unintended value creation. Scot: [53:53] Mark were you you know we've used up about an hour of your time we really appreciate you coming on the show to tell us about the book when's it come out where can people find it do you do you want them to order from that Seattle bookstore that we've been chatting about. Mark: [54:09] So yeah and thanks Scott Jason I've always enjoyed listening to your show I did tell you it beginning I your analysis recently all birds and Warby Parker I took the heart because I initiated Warby Parker as an analyst but I after after I've seen what your thoughts were on it. So thanks for having me on the show and to talk about the book nothing but Net 10 Timeless stock-picking lessons from one of wall Street's top Tech analyst I just like to nothing but net on a big Hoops fan. And my kids are hoops and that's been my email pack lines there's a lot of meaning for me in that that title it is available wherever fine literature is sold it is available on Amazon it's the it's a top bestseller now and in the business category so I've been I've been just it was just a it was a labor of love for me and throw like a chance to talk with both of you about it because you've lived through the sister just as much as I have and it's fascinating the lessons we can draw from. Jason: [55:01] Well Mark is been entirely our privilege and it's a great sign that you know just halfway through your career you had enough material for an amazing book so I can't wait to read the the sequel after the next half. Mark: [55:13] All right I will talk with will do it again in 25 years. Jason: [55:18] I'm booking it right now. Scot: [55:20] Bring our sock puppet are and pets.com puppets in our Amazon Fire Phone. Mark: [55:24] That's. Jason: [55:25] Yeah everyone else will be living in the metaverse at that point in no one's going to get it but it's cool. But Mark really appreciated your time and until next time happy commercing!

Get the Balance Right
Ep. 72: Creating Community to Support Your Audience and Grow Your Brand (Guest Tracie Root from Gather Community)

Get the Balance Right

Play Episode Listen Later Nov 23, 2021 34:33


On today's show we are talking all about building communities to support and nurture our audience, whether that be followers, fans, clients, prospects, members, etc. Through fostering community engagement, we can help strengthen and grow our brand.We are joined by Tracie Root, the founder of the Gather Community to discuss  the importance of community and how to build your own based around your business, whether to be used as a vehicle to promote your brand or as a revenue stream.SHOW NOTES:Contact or Follow Tracie Root and the Gather Community: Website - Facebook - Instagram - Linkedin - Clubhouse - Freebies and other links.  For more information, see the complete show notes here https://www.getthebalanceright.net/blog/episode72CONTACT HEATHER:Contact Heather: Instagram - LinkedInGet the Balance Right Coaching: WebsiteBook a Discovery Call (via Zoom) - Click HereHeather & Get the Balance Right - Link TreeZeitzwolfe Accounting: Website  - FacebookHey Female Entrepreneurs! Let's party! Join me each month

The Quest with Justin Kan
The Coach Behind Silicon Valley's Best CEOs @Matt Mochary

The Quest with Justin Kan

Play Episode Listen Later Nov 23, 2021 47:57


Matt Mochary is an operator, investor and coach to top tech leaders at companies including Coinbase, Opendoor, Bolt and Clearbit. He is the best in the Valley at what he does, with a notable clientele spanning from Naval Ravikant to Sam Altman. After selling his startup in 1999 for millions, he surfed, made movies, worked with ex-cons then developed the Mochary Method to help tech CEOs excel.  Matt was my CEO coach during my time at Atrium. My friend Steve Huffman, CEO at Reddit, said he helped Reddit “save millions”. When I was confronted with difficult feedback, Matt helped me navigate my emotions. He also coached me out of my pit, and showed me what an effective leader does in their “Zone of Genius”.  In this conversation, we dive into the Mochary Method and his book “The Great CEO Within”. I ask him about tips that have transformed many into the world's best CEOs, and actionable advice for personal growth. I also share a personal story of facing the anxiety from my past and overcoming it with an old friend. Check out the Mochary Method at https://mocharymethod.org and "The Great CEO Within" on Amazon. If you liked  this episode, check out our YouTube channel and follow us on Twitter! A thank to our sponsors Universe and CashApp for making this podcast possible.   THE QUEST MEDIA | CONTENT MEETS SILICON VALLEY |

No Sharding - The Solana Podcast
Daffy Durairaj - Co-Founder, Mango Markets Ep #53

No Sharding - The Solana Podcast

Play Episode Listen Later Nov 23, 2021 42:46


Daffy Durairaj is the co-founder of Mango Markets and is currently working full time as a developer in service of the Mango DAO.00:28 - Origin Story04:44 - Seeing the order book10:20 - The idea behind creating Mango Markets15:38 - Going from creating smart contracts to creating Mango17:32 - How big is the DAO?20:01 - The Launch29:15 - VCs and the launch32:43 - Decentralization and getting stuff done34:55 - Will DAOs ever compete with big tech companies?40:43 - What's next for Mango Markets? Transcript:Anatoly (00:09):Hey folks, this is Anatoly and you're listening to the Solana Podcast, and today I have with me Daffy Durairaj, who is the co-founder of Mango Markets, so awesome to have you.Daffy (00:20):It's great to be here.Anatoly (00:22):So origin story, how'd you get into crypto? What made you build Mango Markets?Daffy (00:30):How did I get into crypto? So, I started off really not wanting to get into crypto. I was really interested in algorithm training. I did that in college and did some competitions that I did well in, and I wanted to trade equities, but it turns out if you have not enough money, if you have a few thousand dollars it's just not allowed. You're not allowed to algorithmically trade. There's a patent day trader rule, and I was infuriated and I was just looking around and I found Poloniex where you can do anything you want. The thing that actually hooked me first to Poloniex was the lending market because immediately as soon as I saw an open lending market, I was like, "Oh wow, I have to buy some bitcoin, and I have to lend it out." And, Poloniex was all bitcoin, and then it gradually got into just the meat of it, which was algorithmic trading and everything about crypto seemed exciting, but I actually didn't want to hold bitcoin. Poloniex was all bitcoin, but again, I think the government sort of pushed me in the right direction.I was like, "Okay, I don't want to hold bitcoin, I'll hedge off my risk on BitMEX, but again, not open to US persons, and so I was kind of reluctantly holding bitcoin and thinking, all right, I have a few thousand dollars if things go bad in this whole bitcoin thing. I'll come out okay. I'll get a job or whatever, but just never got a job, just kept holding bitcoin and continue to trade crypto, and I did that for about five years. Then, I wanted to actually start trading on chain because I thought this was probably for a lot of the reasons that you built Solana, the censorship resistance, and the global liquidity of it, and the openness of it, the fact that you're not excluding people that have a few thousand dollars. I wanted to build on chain and I was just not very bullish on a lot of things, so I kept going back to trading, and then I saw Serum DEX, and I was just hooked. I placed a trade and it felt totally natural and normal. It wasn't like $40 and takes 20 seconds and you don't know if it... And, then MetaMask was jammed and you're like, "Oh, but how do I cancel this?" So, that was a long-winded way of saying I was a trader and then I saw Serum DEX and then I had to start building the tools that would make Serum DEX even more fun.Anatoly (02:59):That's awesome. I got into it by trading. Basically, I set up like an Interactive Brokers IRA account, and that let me kind of bypass the rules.Daffy (03:11):Really?Anatoly (03:13):With a very small amount of money. I think they probably closed these loopholes already. I wrote a bunch of stuff on top of their Java STK and started trading there.Daffy (03:22):I remember I actually got started that way too. I did a bunch of stuff for their Java, and we can tell you we're both programmers. We wanted to build this money machine. It's so fascinating, and it's a machine that-Anatoly (03:40):It prints money.Daffy (03:40):It does things and it prints money. What more could you want? So, I got started with Interactive Brokers, but I guess the whole IRA thing... Because I was a college student, and so even talking to an accountant would take a huge dent out of my net worth.Anatoly (04:01):Totally, it's all really not designed for... The whole financial system in trading in the US is designed to funnel retail towards an app like E-Trade or Robinhood, which takes a cut, and then sells that trade to somebody else, who will take a cut, and then 10 other people until it gets an exchange, and that's how everybody's protecting their neck. They're all taking a little slice, and I think what's cool about crypto is that even centralized exchange like FTX is 1,000 times better and less extractive of the users than anything in traditional finance, simply because they can guarantee settlement. Such a very simple thing.Daffy (04:49):You feel it right from the beginning. You go to Poloniex in 2016, and it's like, oh, you have an email, you have deposited bitcoin, and now you're just lending to people. So, just talk about not being extractive. To see the order book through Interactive Brokers or Ameritrade or whatever costs you a lot of money and it costs them a lot of money to provide it, and I don't think I'd ever seen an order book. This was my passion, this is what I love to do, and I've never actually seen it.There's that story of the blind men who are touching this elephant, and so I had kind of figured out maybe what the order book looks like, but then on Poloniex, you go there and you just see the order book and you see all the lights flashing and you're like, "Oh, this is it. This is where the trades are happening." And, that's free, and of course, a big part of Mango Markets as well is you can see the order book. That's it, that is it, there's nothing more, and it's all on chain and all this stuff. So, in terms of not being extractive, it's a really big piece of what motivates people to come in.Anatoly (06:02):I don't know if you ever tried to get data, real data. I wanted timing information when a bid comes in or when an ask comes in versus when it's filled. How do I get access to it? Because when you get data from any of these places, basically it's like a little better than Yahoo Finance, which is like every five minutes they give you a low and a high.Daffy (06:27):I don't know, did you ever succeed at doing that in Interactive Brokers?Anatoly (06:32):No, I recorded some of it, but it just never had that fidelity and it always felt like a gamble. I'll build some models and sometimes stuff would work locally against my simulations, but then whenever I would actually try to run it, I'd see that fills take a little longer than they should and all this stuff really feels like you're not interacting directly with the trading system, that somebody when they see your order they're like, "Well, maybe I'll put my order ahead of yours or do whatever or slow you down a bit." It just sucks.Daffy (07:16):It feels very opaque, it's like a black box, and of course, this is all for people like me who are kind of looking on the outside looking in. So, if I had gotten a job at Citadel or somewhere, then I could probably see what's actually happening, but the fact that the vast majority of people are going to look at it and not really know it's actually happening, not everyone wants to see an order book. That's an important fact, but there are a large number of people who need it to be a little bit transparent to be involved.Anatoly (07:49):What I hate about it is that there's a lot of people that make a lot of money from you not seeing, that they're in the business of information assymetry and fuck them.Daffy (07:58):So, it's not a family friendly podcast, so it's good. I was going to ask that. So, there's a funny story on RuneScape. I don't know if you've ever played RuneScape.Anatoly (08:17):I played Ultima Online, which is I think similar vibes in the early days.Daffy (08:22):Yeah, so on RuneScape, just like on the point of no one being able to see anything, on RuneScape, also they had an order book because that's the most natural thing to do, and I actually had to figure it out from first principles. I would place a trade and I would see that sometimes it would get executed and sometimes it would not get executed, then I realized, okay, if I place a trade for these water runes or something or oak logs or something, and I put the price really high it gets executed at some price that's not the price that I said, and then I was able to form this concept of that's the asking price. I didn't even have the terminology for this, and then I did the same for set the price to zero for a trade and now I found the bid, and now I can make a lot of money actually underbidding the best asker and overbidding the best bid.Anatoly (09:18):So, you're market making.Daffy (09:20):Yeah, so it's funny, I was reminded because you said there's a lot of people who make a lot of money in you not knowing, and I was just minting money. It took me years to accumulate like 1 million gold pieces in RuneScape and then I was able to just 30X it in a month.Anatoly (09:46):Too bad RuneScape is not a crypto currency. Whoever is running RuneScape, you're missing a huge opportunity right now to just go full crypto.Daffy (10:00):There was some talk about some NFT or something on Twitter. Somebody was trying to encourage Jagex, the company, to get involved in crypto, and of course, I tried to signal boost it, but eventually everyone falls in line.Anatoly (10:17):How did you end up with the idea for Mango Markets?Daffy (10:21):So, I have to give credit to dYdX. It was like 2019 and I hadn't really considered that this was possible. I was heads down writing, trading algorithms and trading crypto just kind of holding all of my wealth in bitcoin and I was borderline bitcoin maxi on that, and just seeing dYdX do it in those early days... Now of course, they're way more successful now. Those early days seemed that you could do leverage trading on chain, and they kind of showed it as a proof of concept, which I just kind of started pacing back and forth like, oh my God, this is changing our worldview completely.Ethereum was slow and whatever, so years went by. Actually, maybe just like a year, and then I saw Serum DEX where I felt finally, okay, all the pieces are in play and also I wanted to market make on Serum DEX, but I really need leverage. I don't really need leverage, it just makes market making dramatically more efficient and safer. Leverage is just this tool that people who are involved in the financial plumbing really need, and it wasn't there. I was like, "Okay, this is the time and I have to learn how to code smart contracts," which sounds like a very scary and daunting task, but it was not that bad.Anatoly (11:54):The scary part was that you guys were building on a platform that was really rough around the edges at the time.Daffy (12:02):Well, no one told me that shit was really rough around the edges at the time. That was actually maybe important. You come in and there was nothing to do, this was August of 2020, things were not locked down necessarily here in the United States, but people kind of scattered. No one was hanging out in the major cities, they had kind of went to go live with their families, as did I. I fled San Francisco and went to the rural part of North Carolina. So, there was nothing going on and you just have all the time in the world and bitcoin is doing well, so that's funding you in a way.Bitcoin is this big, or crypto in general, it's all the people who bought it or own some crypto, as long as it's going up, it's kind of funding whatever zany side projects you have in mind. So, this is just a side project. Wouldn't it be cool if I could access this part of the world or this technology? And so, that's why chewing glass... You probably coined that term, I don't know, that's why chewing glass wasn't so hard because that pressure to... You have all the time in the world basically.Anatoly (13:30):Basically, COVID and lockdowns were so boring that chewing glass to learn how to code smart contracts with Solana was like a reprieve from the boredom.Daffy (13:45):And, I've heard you kind of say, okay, a bear market is when everyone is coding. To give the opposite perspective, I feel like a bull market, unlike much more chill, oh yeah, nothing really matters. Crypto is going up, it doesn't matter what I do. The rent is going to be paid for, everything is going to be fine, might as well engage in high variance new ideas, new projects. In a bear market, I'm very I got to grind, I got to squeeze out a couple of more bips out of this trading algorithm because I got to pay rent. So, that's the bullish case on bull markets.Anatoly (14:30):That you can try something crazy. That is the point where people enter this space is in a bull market. It's that they kind of start coming in droves because they're like, "Everything is crazy and I can also be part of the party." But, it's hard as a founder to stay focused because you are in that high variance, high risk taking kind of mindset.Daffy (14:58):There's a trade off of during a bull market there's a lot of things looking for your attention, and a bear market is very calm, or it can be. If you built up a lot of liabilities during the bull market, now you have to stay afloat during the bear market. Maybe it's calm in the external world, but internally it's not calm. You're like, "I got to do X, Y, and Z today every day." There's that natural pressure.Anatoly (15:32):So, you decided to learn coding on smart contracts on Solana. How did you end up going from there into Mango?Daffy (15:39):Initially, it was called Leverum. Not it, there was just an idea and there was a command line tool where you could... The YouTube video might still be out there, and Max was out there somewhere on the internet and he saw it and he thought it was a great idea. And so, he reached out to me and we did some other things like speculative about a prediction market, and then we were like, "Okay, no one is going to build margin trading." A lot of people are saying it, but it doesn't look like if we just wait it's just going to happen in the next couple of weeks or something. It's probably we just have to build it.Not we just have to, but we totally should. This is clearly a very important piece of the Solana ecosystem. So, we started building it. Mango was just we were thinking alliteration is good. Everybody loves mangoes, it's a fruit that I have never heard of anybody who doesn't like mangoes. It's probably the high sugar content and Mango Margin was the idea, but then we got the domain Mango.Markets. It's kind of evolved now. When you're starting off with something, you have kind of a narrow scope. You're like, "I just want to be able to borrow money." And now, there's this Mango DAO and people are talking about NFTs and drones. I'm talking about drones. I don't know if anybody else is, but it's just gone way higher and now I'm like, "I'm a humble servant of the Mango DAO." And, that's totally a normal thing to say.Anatoly (17:27):How big is the DAO?Daffy (17:28):How big is the DAO? That's a good question.Anatoly (17:30):In humansDaffy (17:31):That's like a philosophical question. In human terms, wow, again, even still a philosophical question. So, I think if you go to MNGO token, if you go to the Solana explorer and just type in mango or MNG or something, you can probably... I don't know if they have a list of unique token addresses, so in some sense that's the DAO, but in terms of the number of people who actively post on the forums and make proposals, that's much smaller. I'm guessing there's thousands of people who have votes, but the number of people who make proposals and add meaningful commentary on the forums is maybe 20 people, and it's expanding pretty quickly.I always see new people coming in. There's also not just people, there's the wealth of the DAO and the cultural reach of the DAO, the spiritual significance of the DAO, all of those seem like size if you ask how big is the DAO. You interviewed Balaji Srinivasan, and there's this idea that he had on Twitter that was like a DAO should buy land in Wyoming and send a drone to circle it and this is kind of like a moon landing sort of kind of thing or some kind of significant breakthrough where the DAO is controlling physical objects in the real world. So, this is very exciting to me, but it has nothing to do with margin trading, it's just something exciting that maybe in a bear market, I don't know, I'll push to get this done.Anatoly (19:23):Do you want the control to happen on chain?Daffy (19:25):Yeah, I think that's necessary. Maybe not the total control, but some kind of signal that distance... So, you can kind of think of Congress authorizes a certain thing and then the executive branch does it. If we could make that link be as automated as possible, I think there's something useful there, at the very least something exciting and interesting, kind of like the moon landing where maybe there wasn't anything useful, but it was inspiring for sure.Anatoly (20:02):So, the DAO, if you guys decided you want to do something with leverage and lending, and how you guys launched was really unique. I don't even know if people did this in Ethereum. To me, this is the first time anyone's kind of done this style of launch. Can you talk about the design and how you guys thought of it and what let you make those choices?Daffy (20:25):So, people early to Solana may be familiar with the Mango market caps and how that went, which somewhat argues the first NFT on Solana, and that was done pretty much sort of like how NFTs are typically done where there's a mad rush to grab the caps as soon as possible and the price is swinging wildly and there's a lot of people. Now, I think we put that together as an April Fool's kind of thing, very quickly, and so it was great for what it did, but the experience from that was, okay, there's going to be a lot of angry people. If you do it in this way where the DAO is raising funds, and this is the inception of the DAO, the DAO is raising funds for insurance fund, you probably don't want it to just be distributed to the people who were the fastest to click.And, that was the idea. We probably don't want that. It doesn't seem useful, it seems like a lot of angry people, and a lot of frustrated people. So okay, so you take out the time component, you take out the luck component, and then you're left with you kind of have this sort of auction that lasts 24 hours, but then what if X somebody comes at the last moment and dumps in a huge amount of money and raises the price for everyone? Everyone gets the same price. So, our design was we'll have a withdrawal period or a grace period at the end, the remaining 24 hours where if you kind of don't like the price, you can bail out. It had some flaws and I think we knew about those flaws from the beginning. We were like, "Okay, we just pushed to this game of chicken to a later point where someone can put in a lot of money to scare other people away and then they pull out at the last second. And that did happen, but it's not clear if that was net positive or net negative.Anatoly (22:28):And kind of in summary, there's this 24 hour period where people deposit funds in for a fixed supply of tokens.Daffy (22:36):Correct.Anatoly (22:37):And, then the period is over, and now everybody knows what the total amount in the pot is for the token and there's kind of this price that's created and then if you don't like the price, you can withdraw the entire bid or as much as you want. You can only reduce your bid.Daffy (22:54):Correct.Anatoly (22:54):But, you don't need to withdraw the entire bid, you can just reduce it.Daffy (22:57):Correct, yep.Anatoly (22:58):So, then that pushes the average price down at the same time, so for every dollar you take out, you kind of get a better price per token.Daffy (23:07):And, you see the price ticking up during the first 24 hours as more and more people are putting money in and then the price ticking down over the next 24 hours.Anatoly (23:19):I'm a huge fan of this setup because it creates a lot of... There was news, you guys made the news because it was almost half of all of USDC that was minted on Solana ended up in that smart contract. It was like 45% of it.Daffy (23:43):I remember actually because we saw the USDC on Solana was 700 million the days before and then it had climbed up to like 1.1 billion or I don't know what the number was at the end, and there was 500 million in the contract at the end of the first 24 hours. That was not the intention.Anatoly (24:05):It's like it was minted.Daffy (24:05):And honestly, I think you could appreciate it better from the outside than from my point of view for sure, and of course, I also could appreciate it better from the time distance, but that was not expected. We kind of knew that there would be a lot of money placed in the beginning and then money would go down. That was in all the documentation that we wrote, and that was expected and we had all these dev calls where everyone was always talking about it, and I was like, "Okay, come on. Literally, there isn't that much USDC in Solana." So, it can't be that bad, but of course, I underrated the possibility that someone could just mint a whole bunch of new USDC and bring it in from somewhere else. It made the news and a couple of other projects did the same thing, and I wonder if maybe it's a one time kind of thing. The game only works once. You can't expect to scare people every time or use the tactic every time.Anatoly (25:10):Maybe, I think a lot to be said, but there was no other way to go. Mango took it all, so there was no private round, they were never listed anywhere. This was really the only way to get it, and the anticipation of a project that was awesome, and from every other perspective is... What I always tell founders is that you should always raise the least amount for the highest price. The VCs kind of have more power than you usually because they have more information, they look at many deals, people come to them, they have the money, but it's sometimes the founders have this asymmetry where they're the only ones without equity. They're the only ones without tokens and that moment is if you can get everybody at the same time to compete for that thing, then you've kind of created the symmetry there and you maximize the capital raise for the DAO, for the project, for the community, and therefore that actually is a good thing. You have more resources to build a vision.Daffy (26:16):Although, I'll clarify, I think the DAO is still handing out a lot of tokens, so there's still a lot of ways to acquire Mango tokens, and that was kind of the inception for the insurance fund. The DAO has been paying people out of the insurance fund, and so it's been useful, but there's still more tokens to be had. There is a slight private rounds and I totally understand why people do them, but like I said earlier, if you are in crypto for a while, and this the cool thing about bull markets, I don't actually need money, I just need to pay rent and bitcoin has gone up 50%, so I'm solid.And, no one was paid anything. There was just Mango tokens that were given to people and they were told the DAO values your contribution or this is the inception of the DAO, and everyone worked to build this thing. People worked without even the Mango tokens and sort of the tokens were given after the fact. I think it's a valuable way to build crypto projects actually.Anatoly (27:30):I want more teams to try to totally from genesis this DAO first approach, but it's really tough because you guys had such a principled view on how things should be done and there's a lot of people out there that are offering money for that one thing. How did you guys have the discipline to just go stick with this?Daffy (27:54):We had a lot of discussions about all these things. We talked to VCs and we still do and we like all VCs actually. So, I think Satoshi, I'm not trying to draw a comparison to us to Satoshi or anything, but there is this beauty in that story and I think there's a lot, maybe even the majority of bitcoin's value at least to me... To me, I just love the narrative. I love the story of Satoshi, the pseudonymous founder who is one of the richest people on the planet right now. Obviously, they're in a no VCs. This person wanted to not make a big fuss. It was kind of like this clockmaker prophetic person who just came and then left, built this thing and then left, and that's such an amazing story.There are these long, long payoffs. Maybe they take a while, but they definitely do pay off that if you're not hurting for rent, again, I was in a position, all the other Mango devs were in this position as well where it was a bull market, we're not getting eviction notices or something, we could kind of float the boat for a while. Just consider the longterm payoffs, consider the five year payoffs. Stories are amazing.Anatoly (29:17):The weirdest thing is that every good VC will tell you that you should maximize for the highest return. Don't worry about the middle exit, or don't compromise. Actually, imagine you're taking over the world, what are the steps to get there? And, the risk don't matter. Actually maximize for the high and this is the irony here is that I think this kind of fair launch, most distribution will probably result in overall longterm, better, and higher returns, but the risks that I always find is that humans are hard to organize and at the same time, cryptography is this new tool for organization.It is what allows us to massively scale agreement and complex problems, really, really complicated problems. We can just click a button and vote and agree on that one and you know. You know that the decision was made, but I'm curious, do you see tension between the decentralization, kind of the disorganization of the DAO and getting shit done? I've got to build stuff.Daffy (30:34):No, 100% actually, on a daily basis actually. There was a podcast with the guy on Twitter that goes by Austerity Sucks and this was back in April. We talked about this and he brought up a similar point and he was, "Yeah, this DAO thing, it's all a fine and dandy idea, but do you think this will work?" And I, to be honest with you, am skeptical, however it is always felt to me sort of a high variance idea, kind of like if you were in the 16th century Netherlands or the 17th century Netherlands and you were like, "Okay, we've got to get spices from India. How do we do it?"And, you come up with a joint stock corporation and then the join stock corporation is everywhere and I don't think anyone has really figured out how to do DAOs well or what's the right mix, how do we communicate, how do we coordinate, all those things. I don't think anyone's quite figured it out yet. No one had figured it out like six months ago. I still don't think we have figured it out, but if it works, the payoff is enormous. There is global coordination, there isn't a jurisdiction. I imagine the DAO is controlling drones one day. It could be wild. So, even taking into account all of my skepticism, I was still like, "Okay, we should do the DAO idea." Anyway, not just me, Max is totally on board with this and Tyler and all the other people who kind of built Mango Markets. But on a day to day basis, as of October 2021, now I'm thinking, okay, maybe what we need to do is have small teams that build things and then pitch it in front of the DAO and get compensation. So, the DAO is kind of the government and it subcontracts out to people. Maybe not like direct democracy rules everything and we'll try that out and if that doesn't work, we'll try something else out, but try new stuff out quickly.Anatoly (32:45):That's awesome. This is actually a really good strategy to incentivize product development. Building an MVP, which means you're the PM, and the implementer, the dev, and you go do all the work and here's your management. It's all done, just give me money.Daffy (33:09):And, there's some maintenance tasks, so it's not purely new products, so I'm thinking Mango V4, but also in the meantime, there are all these nodes that need to be paid for.Anatoly (33:24):I think you guys will need to split. We called it KTLO, keeping the lights on work. You for six months, you're on KTLO duty, and you get paid a salary effectively, and you just got to keep the lights on, but then some other folks are like, "Go build something that you can propose to the DAO and the DAO will fund it."Daffy (33:49):I think that's basically what we have coalesced on is that, well, some people should be doing KTLO and other people should be doing new things, building the new product, and it takes kind of the risk out. The DAO doesn't have to pay for whatever stuff that I produce for Mango V4, but we both have some kind of incentive to be honest about it. If it's clearly a huge improvement or even a very substantial improvement, DAO should pay me something because if the DAO doesn't, then you can expect future builders to not go for it. And, we have these discussions on the forums.People make good arguments like this. I think the average IQ in the Mango Markets forums is very high. I think probably higher than most legislative bodies. I'm just going to go out on a limb and just say that. Not ours of course, ours is obviously very high IQ, smart people in our government, but you know.Anatoly (34:55):Do you believe five years there's going to be a 30,000 person DAO. Imagine a tech company, 30,000 engineers, or 30,000 people, they got product managers, teams, layers of bullshit. Is there going to be a DAO that's competing with a big tech company?Daffy (35:16):It's legitimately really hard to figure out how this might look. The reason why I hesitate so much with the question of a 30,000 person DAO is I'm not sure it'll look exactly like a corporation that we can say, okay, these are these 30,000 people. You might never be able to figure out who is part of the DAO and maybe that's one of the benefits of the DAO. If I asked you, how many people are part of Solana, not Solana Labs, but Solana the community? It's a little bit difficult to even answer, lots of people, various levels of involvement, and financial. Some people have a lot of financial stake until you don't, but some people have a lot of financial stake and no involvement at all. It's wild all over the place. Does Bitcoin look like a country or a corporation? I can even point my finger on what it is.Anatoly (36:20):So, even LINE had a battle that had 8,000 people all coordinating over something and I think they have corporations within that game that are maybe probably span up to 1,000 I'd imagine. So, that's people organizing using tech for a common goal without a job, without a structure that you normally have at a company. Linux was built by people organizing online. I think as soon as you have something to lose and in Linux and even LINE you start building up a virtual token, your reputation is a contributor to this thing and becomes a thing that we don't normally think of as valuable in a monetary way, but it's valuable to that person, but I definitely care about my ability to continue contributing to an open source project. So, where tokens I think can get there is if there is something of value being created by the community, some common goal that everyone is working on and that token is in the middle of it and is uniting and organizing it. I think that could scale as large as a corporation.Daffy (37:45):No, I agree with you. I just think it'll always be a little bit hard to figure out how many or who is involved, just by the nature of it. I just think it'll be always a little bit hard to figure out, but will 30,000 people be building on Mango or some DAO? You already know the numbers better, but we might even be approaching that with Solana. So, I'm not part of Solana Labs or affiliated with Solana in any way, but building on Solana, and also I have a financial incentive too, but also I have a reputation incentive and it feel like I'm part of the Solana corps or whatever it is, but I don't know what it is. It doesn't even exist. It's not even a DAO. There isn't even a DAO there.Anatoly (38:39):Oddly enough, I feel the same way about Eth and bitcoin even is that we're competing with them.Daffy (38:50):But, it all feels like we're actually kind of a part of the same team and-Anatoly (38:54):This is the weird part that I think is going to be really interesting how it plays out because I don't think it's obvious to anybody what is crypto. Is it the token? Is it the coin? Is it the network? Is it the cryptography itself?Daffy (39:10):It's not the cryptography itself, so we can strike that one out.Anatoly (39:14):Are you so sure? I think it's honestly the power that a person has to be able to make these very concrete statements that are unbreakable no matter how... That's the math. The math behind it is what allows them to do them.Daffy (39:36):I don't totally know the cryptography itself. I know basic 101 number theory stuff, but I remember going through my first programming class and coming up feeling just very powerful. I'd write stuff down and then it happens. Kind of like a king, actually, more powerful than a king in a lot of ways because I was writing these training algorithms and it was happening around the world in ways that probably a medieval king couldn't imagine and crypto brings that to finance where things of actual value can be moved.Mango Markets exists and you can go there and place a trade right now, but it was just somebody who wrote it. I was involved based on you can see the GitHub contributions, but it was just people who wrote it and that's probably... We can maybe chalk that up to the cryptography.Anatoly (40:43):So, what's next for you guys?Daffy (40:46):There's drones on the horizon. Yes, sometime in the future, but we have to do a lot of the nitty-gritty, roll up your sleeves kind of work. On Solana so far, there isn't... Maybe a lot of projects are struggling with this, indexing all the data and providing it for people in a usable way because there's just so many transactions. It turns out if transaction fees are really low, people just make a lot of transactions and they don't think about it.And so, gathering it up and displaying it in a useful format to people, that's a very immediate term and then slightly medium term is sort of becoming the place where everyone does leverage trading and does borrow and lending, all the crypto natives. And then of course in the longterm, I would say it's somebody like my mom should be able to store her money in Mango Markets and not think twice about it. It's not a good idea right now I wouldn't say, but that's the goal. That involves a lot more social things than just technological things. That's get it to a level where she can do it safely and feel comfortable and manage her keys, or even if she's not managing her keys, have a solution for how the keys might be managed, that she's not falling for scams, and that's I would say my longterm goal.Anatoly (42:09):That's awesome, man. On that note, man, really awesome to have you on the podcast. Great conversation. I'm always excited about what you guys are doing and how the community is building this ecosystem of its own, so really amazing. It's serendipity that you guys started going on Solana, just really lucky to have folks like you in the ecosystem.Daffy (42:35):Thanks a lot. It means a lot. This was really fun.

Invest Like the Best
Niraj Shah - Developing Every Skill - [Invest Like the Best, EP. 252]

Invest Like the Best

Play Episode Listen Later Nov 23, 2021 64:09


My guest today is Niraj Shah, the CEO and co-founder of Wayfair. Wayfair started life in 2002 as a collection of independent websites selling category-specific home furniture but became a one-stop-shop for the home category in 2011 when, at $500 million in sales, the team consolidated their 240 websites into Wayfair.com. Today, the business offers 22 million products from 16 thousand suppliers to more than 30 million customers.   During our conversation, we discuss how the competitive frontiers in e-commerce have changed, what it was like to build out a proprietary logistics operation, and what makes the home goods market more attractive than other physical goods markets. Please enjoy this great conversation with Niraj Shah.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Robinhood, Marqeta, Grab, and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.   -----   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   -----   Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:50] - [First question] - The global supply chain and its issues today in 2021 [00:05:13] - Why he finds the ocean leg such a problematic area and how to resolve it [00:07:04] - Overview of the physical goods market around the world [00:10:50] - The role of magazines and devout subscribers in certain sectors  [00:11:50] - Are physical goods trends in flux or fairly steady and less geared to change [00:13:06] - From 240 separate websites into what became Wayfair as we know it today [00:16:36] - The competitive frontier of eCommerce in its early days and why they won  [00:18:29] - Expanded logistics control, developing their brand, and becoming Wayfair [00:21:40] - Aggressively building for the future as a public company with investors involved [00:27:23] - Key differences between Wayfair, IKEA, Restoration Hardware and others [00:34:22] - Other areas of interest and drivers of future investment opportunities for Wayfair [00:38:39] - What excellent marketing means to him and why Netflix does it so well [00:42:02] - The margin profile of Wayfair and all of its major components  [00:47:13] - Lessons learned from major mistakes while building the business [00:49:54] - Company culture and deliberately investing time and money into it [00:51:50] - Evaluating the importance and success of their adapt and grow philosophy [00:53:18] - How he would measure his own improvement as a CEO over time [00:55:17] - Thoughts on the dimension of competition as they scaled [00:56:57] - The most stressful episode of growing the business and what he learned  [01:00:16] - What the best outcome for Wayfair would look like in the future [01:01:38] - The kindest thing anyone has ever done for him

Moon Money
Robinhood & Citadel Lawsuit DISMISSED

Moon Money

Play Episode Listen Later Nov 22, 2021 16:40


Robinhood & Citadel Lawsuit DISMISSEDhttps://www.wsj.com/articles/judge-dismisses-meme-stock-lawsuit-against-robinhood-and-citadel-securities-11637265778  https://beincrypto.com/loopring-ceo-lrc-gamestop-nft-speculation/ RISK WARNING: Trading involves HIGH RISK and YOU CAN LOSE a lot of money. Do not risk any money you cannot afford to lose. Trading is not suitable for all investors. We are not registered investment advisors. We do not provide trading or investment advice. We provide research and education through the issuance of statistical information containing no expression of opinion as to the investment merits of a particular security. Information contained herein should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. Past performance is not necessarily indicative of future results.

T.Rex Talk
Who Was That Masked Man?

T.Rex Talk

Play Episode Listen Later Nov 21, 2021 25:37


The media has predictably freaked out over the Kyle Rittenhouse verdict, calling him a vigilante, a symbol of hate, and worse. Isaac decides to get all philosophical about heroic vigilantes, symbolic outlaws, and freedom fighters of history and fiction. A fast look at Robin Hood, Zorro, Scarlet Pimpernel, The Scarecrow (and Batman, obviously), all compared with men of the War for American Independence and the resistance movements of WWII. Bonus Content:The Scarecrow Part 1: https://youtu.be/BaSTjq-fK1MThe Scarecrow Part 2: https://youtu.be/OVaGwXSW4yEThe Scarecrow Part 3: https://youtu.be/1KfNnihTLWAKeep in touch with us here: https://trex-arms.com/newsletter/

Tragical
Good Skippy Soup

Tragical

Play Episode Listen Later Nov 21, 2021 40:29


Chad and Melissa breakdown why Robin Hood is Tragical! Get ready for prominent elbows, Friar Badger and chicken breasts. Toby! Check out our website tragicalpodcast.com! Electronic mail can be sent to tragicalpodcast@gmail.com. Become a Patron! Follow us here! Instagram | TikTok | Twitter | Facebook Tragical Podcast Intro produced by Jahreezy. Tragical Podcast Art by Johnny the Alchemist. Robin Hood Fun Facts (IMDb) Sponsor: Shop Sunshine Seekers!

Tierra de Hackers
42. WiSpear, direcciones IPv4, acelerómetros, Amazon One, Google Bombing y pompompurin vs FBI

Tierra de Hackers

Play Episode Listen Later Nov 20, 2021 126:57


Una multa por violación de GDPR a una empresa de Chipre, revela la capacidad de espionaje masivo que se puede compactar dentro de una furgoneta… Casos de apoderación fraudulenta de direcciones IP en Norte América y África, y una nueva propuesta del IETF para hacer pública parte del la red privada localnet. Los datos del acelerómetro de tu móvil son accesibles a todas las aplicaciones y pueden revelar muchísima información sobre ti. Amazon One, una tecnología para gobernarlos a todos, para encontrarlos, para atraerlos a todos y atarlos al poder de Amazon. Utilizan ads maliciosos en Google para engañar a los usuarios de Opensea a entregar la información privada de sus carteras de criptomonedas y robarles los fondos. Las intrépidas aventuras de pompompurin, el atacante que envió miles de correos electrónicos en nombre del FBI, filtró la base de datos de ActMobile.com y más recientemente datos de usuarios de Robinhood.com. Notas y referencias en tierradehackers.com Twitch: twitch.tv/tierradehackers Youtube: youtube.com/tierradehackers

Mortgage Mom Radio - Podcast
How to buy your home with crypto!

Mortgage Mom Radio - Podcast

Play Episode Listen Later Nov 20, 2021 56:50


Wednesday, November 3rd, 2021 – Buying your home with Crypto Assets “Can you use your Bitcoin for down payment or for reserves?” Debbie answers this question by saying, “Yes, maybe.” Sourcing the funds is the hardest piece for Crypto, not the asset itself. Mortgage loans require a paper trail and that's where things get difficult. Debbie mentions how it's hard to show a transaction history, when the money sits in a virtual “wallet.” Debbie and Heather discuss Robin Hood accounts and how those accounts have the capability of showing sourced assets if used properly. They go on to talk about Coinbase, Webull, BlockFi, Gemini and how to use those money exchanges efficiently to make a concise paper trail. Debbie proclaims that Crypto will not be going away anytime soon, and that it will indeed get bigger and bigger. Debbie believes that Crypto will be the “way of the future” very soon. This brings her into the subject of Jumbo Loans and how those specific loans do not work with Crypto quite yet. Debbie's solution for this is to get that Crypto money into an actual bank account so that money can “season.” Debbie and Heather go into details on how that all works. Connecting with Mortgage Mom Radio is the first step into coming up with a proper game plan, call our office, send us an e-mail, go to our website, or use the Mortgage Mom Phone App! We are open 7 days a week for a free consultation, get yourself connected today! Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW Book your free phone consultation today, BOOK NOW We are LIVE on YOUTUBE every Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments or call in and you will be patched through to the studio. Text "MOM" to 844-935-3634 for a weekly link to join when we get started. Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube! Debbie Marcoux is licensed by the Department of Financial Institutions under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, ID - MLO 2080237926, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926

Halftime Report
Rising risks to a year-end rally

Halftime Report

Play Episode Listen Later Nov 19, 2021 44:39


Scott Wapner and the Investment Committee debate the state of stocks as rising COVID cases in Europe cause a new lockdown in the region. Are the fears overblown? The Committee lay out their strategy. Plus, a Call of the Day on Robinhood has the Committee picking sides on this controversial name. And later, Pete Najarian shares some Unusual Activity in a stock and a sector.

AllBooked
Episode 186: The Thief of Blackfriars Lane

AllBooked

Play Episode Listen Later Nov 19, 2021 20:19


Our inspirational duo Sabrina and Rachel join the show to review another inspirational historical fiction read... this time set in Victorian England.    Do Dark Lords come into play in this Robin Hood-esque tale? Listen to the review to find out!

Dimelo Champ
DÍMELO CHAMP EP. 13 Gabrielle Santana - La Escalera Corporativa | Emprender Siendo Fémina

Dimelo Champ

Play Episode Listen Later Nov 18, 2021 63:58


Gabrielle Santana es consultora de mercadeo con 7 años de experiencia dentro de la industria de Brand Development y Product Launching. Luego de trabajar con marcas como Coca-Cola, Buchanans, Jonny Walker, y Foot Locker donde creó la estrategia del negocio de mujeres en Foot Locker, Santana se ha enfocado en ofrecer servicios de consultoría para empresas nacionales e internacionales. Como arquitecta de marcas, Gabrielle se enfoca en crear una marca sustentable que conecta con las emociones de sus clientes. En este episodio de Dimelo Champ hablamos de sus comienzos, el ascenso en la escalera corporativa y su salto de fé en camino a trabajar por su cuenta. Ingresa a nuestra comunidad educacional de crypto por solo $20 dólares al mes. ¡Únete Hoy! en www.toshified.com Adicional obtén acceso a TODOS nuestros webinars grabados con más de 200 cursos que te permitirán adentrarte a éste mundo de las criptomonedas. WWW.TOSHIFIED.COM Gana dos acciones en Webull cuando deposites $100.00 (Valoradas hasta $1,400): https://act.webull.com/i/IoPOB3DsXQMX/i7a/ Gana una acción con RobinHood: https://join.robinhood.com/joseg7943En REDES DE JOSÉ GALINDEZ: Instagram: https://www.instagram.com/josegalindezpr Facebook: https://www.facebook.com/JoseGalindezPR/ REDES DE GABY SANTANA: Instagram: https://www.instagram.com/thecurlybella --- Support this podcast: https://anchor.fm/jose-galindez8/support

Learned Lag
She Also Won the Booker Prize

Learned Lag

Play Episode Listen Later Nov 18, 2021 18:58


I mean, come on. Gérard Depardieu as Columbus? Orlando Bloom as a crusader? Russell Crowe as Robin Hood? Scott has had enough stinkers to fill an ODS.

Business Pants
DAILY NUGGETS: A new board member joins Robinhood, Gen Z's favorite companies vs. Millennials' favorite companies, and Bobby Kotick... wanted to put out a hit on his assistant??

Business Pants

Play Episode Listen Later Nov 18, 2021 11:21


DAILY NUGGETS: A new board member joins Robinhood, Gen Z's favorite companies vs. Millennials' favorite companies, and Bobby Kotick... wanted to put out a hit on his assistant??

The CyberWire
CISA and its partners warn of Iranian cyber ops. Cyberespionage in the Middle East with Candiru tools. Belarus connected to Ghostwriter. Facebook boots SideCopy. RAMP recruits members.

The CyberWire

Play Episode Listen Later Nov 17, 2021 23:30


CISA, the FBI, the ACSC, and the NCSC issue a joint advisory warning of an Iranian cyber campaign exploiting known vulnerabilities in Fortinet and Microsoft Exchange. A Belarusian connection to Ghostwriter. Candiru tools reported in watering holes. SideCopy's interest in Afghanistan. RAMP shows an interest in attracting Chinese operators. Josh Ray from Accenture Security digs into the CONTI playbook leak. Our guest is Matt Keeley from Bishop Fox on fuzzing. And Pompompurin wants to sell you leaked Robinhood data. For links to all of today's stories check out our CyberWire daily news briefing: https://www.thecyberwire.com/newsletters/daily-briefing/10/221

Black Hills Information Security
Talkin' About Infosec News – 11/17/2021

Black Hills Information Security

Play Episode Listen Later Nov 17, 2021 57:24


ORIGINALLY AIRED ON NOVEMBER 15, 2021 Articles discussed in this episode: 00:00 – BHIS – Talkin' Bout [infosec] News 2021-11-15 02:22 – Story # 1: Robinhood data breach – https://www.bleepingcomputer.com/news/security/robinhood-discloses-data-breach-impacting-7-million-customers/ 07:27 – Story # 2: Trojanized IDA Pro – https://thehackernews.com/2021/11/north-korean-hackers-target.html 09:48 – Story # 3: stealing data today, quantum computers tomorrow – https://www.technologyreview.com/2021/11/03/1039171/hackers-quantum-computers-us-homeland-security-cryptography/ 18:42 – Story # 4: DDR4 […] The post Talkin' About Infosec News – 11/17/2021 appeared first on Black Hills Information Security.

The Meb Faber Show
#369 – Africa Startup Series – Maya Horgan Famodu, Ingressive Capital - Africa Holds The Fastest Growing Consumer Class, Fastest Growing Population & Fastest Growing Middle Class in The World

The Meb Faber Show

Play Episode Listen Later Nov 17, 2021 35:57


In episode 369, we welcome our guest, Maya Horgan Famodu, founder of Ingressive Capital, a VC fund focused on early stage African tech, and believed to be the youngest person to launch a tech fund in Sub-Saharan Africa.   In today's episode, we start with Maya's journey to the African tech scene.   She lays out the factors behind the recent explosion in funding that the continent has recently seen - strong demographics, high growth, and rapid tech adoption.  Then we get into some companies she's invested in, specifically a lot of “X for Africa,” the African equivalent of companies like Stripe, Robinhood, Flexport, and Plaid. And we even touch on 54gene, which we highlighted in episode 345.     As we wind down, we hear what lies ahead for Maya now that she just finished raising her second fund of $50 million.      -----   Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com   -----   Today's episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world's largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library.

The Daily Good
Episode 413: Aussie students give their school an energy makeover, a quote from Aristotle, the beauty of Seattle’s downtown, the brilliance of “The Adventures of Robin Hood”, A Tribe Called Quest rocks Letterman, and more…

The Daily Good

Play Episode Listen Later Nov 17, 2021 19:28


Good News: High school students in Tasmania have saved their school $44,000 in utility bills thanks to their clever overhaul of the energy use, Link HERE. The Good Word: A great quote from Aristotle! Good To Know: A great fact about the history of tea in tea bags. Good News: An engineering student from England’s […]

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
20Growth: Top Growth Lessons from the Early Facebook, Twitter and Quora Days, The Most Important Question to Ask When Building Your Growth Team, How To Test For True Candidate Depth and Quality When Hiring for Growth with Andy Johns, Venture Partner @ Unu

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Play Episode Listen Later Nov 17, 2021 41:09


Andy Johns is one of the pre-eminent growth leaders of the last decade. Andy's career started in growth at Facebook when the company scaled from 100M-500M active users. Since he has worked in some of the leading growth orgs at companies like Twitter, Quora and more recently at Wealthfront as Head of Growth and President. Andy is also an active angel investor and advisor with companies such as Poshmark, Robinhood, Webflow, Blue Bottle Coffee, and Opendoor. If that was not enough, Andy is currently a Venture Partner @ Unusual Ventures where he focuses on consumer social and network-driven startups. In Today's Episode with Andy Johns You Will Learn: 1.) How Andy made his way into the world of startups and growth with his joining the Facebook growth team? What were the biggest takeaways from his time with Facebook, Twitter and Quora? How did that impact his mindset today? 2.) How does Andy define "VP and Head of Growth"? When is the right time to start hiring for your growth team? How should founders determine whether they need a growth leader or growth engineers in the early days? What is the core question founders need to ask on network effects to answer this question? Should the growth team be incorporated into the product team? 3.) How does Andy structure the hiring process for growth hires? What does the structure of the interviews look like? How does Andy test for real depth with candidates? What case studies does he do to really understand their quality? Where do many go wrong with the interview process? What are Andy's biggest suggestions for how to optimise the process? 4.) What does the optimal onboarding process for new hires look like? What takes and processes should they complete in their first month? What are early signs of a poor candidate? How long should one give them if they are not performing? How does Andy approach structure post-mortems within the team? What is the ideal relationship between CEO and Head of Growth?

Roll Britannia - A British Dungeons & Dragons 5e Podcast
Ep. 87: Don't Choose Me - Chapter 17

Roll Britannia - A British Dungeons & Dragons 5e Podcast

Play Episode Listen Later Nov 17, 2021 65:41


The boys are back! And now it's time to kick butt. But what will our buccaneers do next? Will they take their prize and head for the hills? Or will the decide to go all Robin Hood, and right the wrongs in the Orcish Republic (at least the ones they didn't cause)? Oh and has anyone worked out how to turn the boys back into their former selves? There's only one way to find out, join Tom (Keth), Paul (Malrus), Alex (Derek), and Chip (Jeff), led by James (the Dungeon Master) and Roll Britannia. JOIN OUR PATREON - http://www.patreon.com/rollbritannia NEW STOCK AVAILABLE IN OUR MERCH STORE - https://roll-britannia.myspreadshop.co.uk/ Sponsor Tom's Mo - https://movember.com/m/14541765?mc=1 #MANSCAPED

Threat Wire
Robinhood Hacked - 7 Million Users Affected - ThreatWire

Threat Wire

Play Episode Listen Later Nov 17, 2021


Click for links and more info ⬇️⬇️⬇️ BIOS Flaws Hit Intel Processors, Robinhood was Hacked and 7 Million are Affected , and the FBI's Email Server was used to Send Spoofed Emails ! All that coming up now on ThreatWire.  #threatwire #hak5 Links: Weekly security and privacy news, brought to you by Shannon Morse. ThreatWire is a weekly news journalism show covering security and privacy topics for network admins, information security professionals, and consumers. Watch this on youtube (video may be “private” until the scheduled publish time): https://youtu.be/j3vQJNMiTMk Shop ThreatWire Merch Directly! - https://snubsie.com/shop Shop ThreatWire Merch on Teespring! - https://morsecode.creator-spring.com/  Support ThreatWire!  https://www.patreon.com/threatwire  Follow Shannon on Social Media: https://snubsie.com/links  Links: https://www.bleepingcomputer.com/news/security/high-severity-bios-flaws-affect-numerous-intel-processors/ https://www.intel.com/content/www/us/en/security-center/advisory/intel-sa-00562.html https://www.bleepingcomputer.com/news/security/fbi-system-hacked-to-email-urgent-warning-about-fake-cyberattacks/ https://twitter.com/spamhaus/status/1459451401269043201 https://twitter.com/vinnytroia/status/1459515619838251010 https://thehackernews.com/2021/11/fbis-email-system-hacked-to-send-out.html https://krebsonsecurity.com/2021/11/hoax-email-blast-abused-poor-coding-in-fbi-website/ https://www.fbi.gov/news/pressrel/press-releases/fbi-statement-on-incident-involving-fake-emails https://blog.robinhood.com/2021/11/8/data-security-incident https://www.vice.com/en/article/epxdmn/robinhood-hackers-internal-tool-security-features https://www.bleepingcomputer.com/news/security/7-million-robinhood-user-email-addresses-for-sale-on-hacker-forum/ https://www.cnet.com/tech/services-and-software/robinhood-data-breach-exposed-7-million-customers/ Hak5 -- Cyber Security Education, Inspiration, News & Community since 2005: -----☆-----☆-----☆-----☆-----☆-----☆-----☆-----☆-----☆-----☆ Our Site → https://www.hak5.org Shop →  http://hakshop.myshopify.com/ Subscribe → https://www.youtube.com/user/Hak5Darren?sub_confirmation=1 Support → https://www.patreon.com/threatwire Contact Us → http://www.twitter.com/hak5 Threat Wire RSS → https://shannonmorse.podbean.com/feed/ Threat Wire iTunes → https://itunes.apple.com/us/podcast/threat-wire/id1197048999 -----☆-----☆-----☆-----☆-----☆-----☆-----☆-----☆-----☆-----☆ ____________________________________________ Founded in 2005, Hak5's mission is to advance the InfoSec industry. We do this through our award winning educational podcasts, leading pentest gear, and inclusive community – where all hackers belong.

Before the Millions | Lifestyle Design Through Real Estate | Passive Cashflow Investing Tips and Strategies for Financial Fre

On today's show, Jeff Badu, real estate investor and entrepreneur joins us to discuss all things business and passive income. After quitting an unfulfilling corporate job as a Big 4 accountant, Jeff started renting his personal car for $1,000 to aide in the growth of his upstart tax business. Through this process Jeff quickly realized the power of passive income and grew the car rental fleet to produce an automated 6-figure business before fully focusing on building out his tax business. His segue into real estate came as a desire for more passive income and to restore underserved communities. Today this serial entrepreneur has acquired over 100 units of residential and commercial real estate and sits with Daray to discuss life as a former employee turned business owner. Links Mentioned in Today's Episode: https://jeffbadu.com (Jeff's Website) Recommended Book: Rich Dad, Poor Dad http://beforethemillions.com/book (Listen to this book for free!) Lifestyle Design App: https://robinhood.com/us/en/ (Robinhood)

Invest Like the Best
Will Marshall - Indexing the Earth - [Invest Like the Best, EP. 251]

Invest Like the Best

Play Episode Listen Later Nov 16, 2021 49:52


My guest today is Will Marshall, the co-founder and CEO of Planet. Will founded Planet in 2010 with a small team of NASA scientists to build a constellation of satellites that would image the entire Earth every day. Since then, Planet has successfully built and deployed 450 satellites into space, which the company is using to create a time series of images for every place on Earth.   Our conversation covers the untold space story. How space is going through an internet moment where cost reductions and performance enhancements have led to a seismic shift in what's possible above our atmosphere, and how that can drastically improve life on Earth through unique datasets like the one Planet is piecing together.   Once you listen to Will speak about Planet's progress and mission, it's hard to think of a more underappreciated company in business today.   Please enjoy this great conversation with Will Marshall.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   ------   This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Robinhood, Marqeta, Grab, and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.   ------   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   ------   Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:57] - [First question] - His thoughts on the renaissance of the space industry [00:05:09] - The earliest days of Planet and why he started the business [00:09:22] - Unique data units captured by their satellites [00:11:21] - What might we know in fifteen years using satellite data that we don't today [00:13:35] - The real estate of space and interesting angles to consider  [00:15:59] - How customers interface with Planet and their early use cases [00:20:57] - Thoughts on the sovereignty of space and the laws that exist currently   [00:23:43] - Figuring out the dynamics and pricing of Planet's business model [00:27:34] - Examples of stress and tensions when working in space [00:29:08] - The future of privacy and concerns we should have there collectively [00:30:29] - Five different types of satellites and their functions [00:31:39] - The most sci-fi potential futures that Planet may unlock someday [00:32:54] - Indexing the Earth and using data to train machine learning algorithms [00:34:02] - What he's learned about Earth that is most surprising [00:37:12] - Contributing factors to a 70% decline in life on the planet in 40 years [00:38:35] - Ways that going public might impact Planet's long term goals [00:40:23] - The hardware story of building various prototypes of satellites [00:42:18] - How much is built in house versus outsourced to fabricate their satellites [00:43:48] - Complimentary space trends that are compounding beyond imagery [00:45:32] - Whether or not they plan on making their data open-source [00:47:15] - Democratizing their data and allowing other companies to build on top of it [00:48:30] - The kindest thing anyone has ever done for him

Fintech Insider Podcast by 11:FS
580. News: Is fintech now more popular than Netflix?

Fintech Insider Podcast by 11:FS

Play Episode Listen Later Nov 15, 2021 55:59


Our expert hosts, Gwera Kiwana and Ewan Silver, are joined by some great guests to talk about the most notable fintech, financial services and banking news from the past week. This week's guests include: Siddharth Venkataramakrishnan, Capital Markets Correspondent, Financial Times David Jarvis, Founder & CEO, Griffin With soundclips from: Karl Turnball, Head of Banking Services, Starling Keith Grose, Head of International, Plaid Darren Westlake, CEO, Crowdcube We cover the following stories from the fintech and financial services space: Standard Chartered taps Starling BaaS platform for green savings product (soundclip from Karl Turnball, Head of Banking Services, Starling) - 3:47 Paytm raises $1.1 billion from anchor investors in India's blockbuster IPO - 15:35 Crowdcube expands across Europe as EU crowdfunding takes flight (soundclip from Darren Westlake, CEO of Crowdcube) - 27:35 Plaid report: Fintech adoption helps break money taboo (soundclip from Keith Grose, Head of International at Plaid) - 36:28 Robinhood says millions of customers' names and emails addresses taken in data breach - 44:30 New neobank Monument readies for launch after regulator lifts restrictions - 47:30 Square makes its Cash App available for teen use - 48:40 Microsoft's Own Metaverse Is Coming, and It Will Have PowerPoint - 49:50 This episode is sponsored by Temenos. Temenos is the world leader in banking software, serving over 3,000 financial institutions. SCALE 2021 is Temenos' dedicated, virtual developer event, including: insights from industry leaders on current technology trends and how they impact banking; customer presentations; product demonstrations and road-map sessions and opportunities to speak with Temenos experts. Whether you're a developer, consultant or business user, discover the latest technology opportunities and how this can help you deliver bigger, better, faster. Register to attend here. (https://tem.mn/3jYLZlm) This episode is sponsored by Primer. Primer is the world's first automation platform for payments. With Primer, merchants and developers have all the underlying infrastructure and "lego blocks" they need to build the best buying experiences for their customers. Learn more and book a demo at primer.io (https://primer.io/?utmsource=11fs&utmmedium=referral&utmcampaign=fintechinsider_) Fintech Insider by 11:FS is a podcast dedicated to all things fintech, banking, technology and financial services. Hosted by a rotation of 11:FS experts including David Brear, Simon Taylor, Jason Bates and Sarah Kocianski and joined by a range of brilliant guests, we cover the latest global news, bring you interviews from industry experts or take a deep dive into subject matters such as APIs, AI or digital banking. If you enjoyed this episode, don't forget to subscribe and please leave a review Follow us on Twitter: www.twitter.com/fintechinsiders where you can ask the hosts questions, alternatively email podcasts@11fs.com! Special Guests: David Jarvis, Ewan Silver, and Siddharth Venkataramakrishnan.

This Day in History Class
A member of the Indiana Textbook Commission calls Robin Hood a communist - November 15th, 1953

This Day in History Class

Play Episode Listen Later Nov 15, 2021 12:19


On this day in 1953, Ada White of the Indiana Textbook Commission alleged that textbook writers were presenting the story of Robin Hood in a pro-communist light. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Space Javelin
SJ253: Robinhood, REvil, China, Apple, Google, Business Essentials, vets, iPad multitasking, & more!

Space Javelin

Play Episode Listen Later Nov 15, 2021 56:14


Visiting dignitary Aitan Roubini is on board this week, cadets, so look lively! Lots of court shenanigans, a new service from Apple, big crimes, and some great news too! https://appleinsider.com/articles/21/11/08/doj-charges-two-alleged-revil-associates-seizes-61m https://appleinsider.com/articles/21/11/10/google-loses-eu-court-fight-over-28-billion-antitrust-fine https://appleinsider.com/articles/21/11/10/uk-backs-google-allowing-appeal-in-safari-user-targeting-suit https://appleinsider.com/articles/21/11/10/apple-denied-request-to-delay-app-store-changes-resulting-from-epic-lawsuit https://appleinsider.com/articles/21/11/09/upcoming-apple-software-update-will-stop-iphone-13-screen-swap-block https://appleinsider.com/articles/21/11/08/developers-can-continue-submitting-apps-over-christmas-book-publishers-cannot https://appleinsider.com/articles/21/11/10/apple-business-essentials-service-includes-device-management-onsite-apple-repairs https://appleinsider.com/articles/21/11/12/jamf-ceo-calls-apple-business-essentials-a-terrific-opportunity https://appleinsider.com/articles/21/11/13/apple-to-pay-30m-to-retail-employees-for-off-the-clock-bag-device-searches https://appleinsider.com/articles/21/11/10/icloud-for-windows-updated-with-prores-proraw-password-generator-support https://appleinsider.com/articles/21/11/12/chinas-jd-sold-156-million-of-iphone-13-in-first-two-seconds-of-sales-event https://www.iphoneincanada.ca/ipad/woman-runs-nyc-marathon-while-sketching-on-ipad-mini/ https://www.cultofmac.com/758119/apple-tv-draws-tiny-but-growing-share-of-us-streaming-market/ https://appleinsider.com/articles/21/11/06/apple-tv-ted-lasso-season-finale-ninth-in-nielsen-streaming-ratings https://appleinsider.com/articles/21/11/11/tom-hanks-film-finch-sets-apple-tv-film-premiere-record https://appleinsider.com/articles/21/11/08/robinhood-data-breach-exposes-5m-email-addresses-personal-data https://appleinsider.com/articles/21/11/08/uber-twitter-among-companies-giving-engineers-fully-loaded-m1-max-macbook-pro https://appleinsider.com/articles/21/11/11/spotify-pushes-into-audiobook-business-with-findaway-purchase https://appleinsider.com/articles/21/11/12/snap-sued-for-misrepresenting-impact-of-apple-privacy-changes https://appleinsider.com/articles/21/11/11/user-modified-iphone-x-with-usb-c-port-sells-for-86k https://www.bbc.com/news/technology-59222749 https://appleinsider.com/articles/21/11/11/apple-details-veterans-use-of-ipad-technology-to-help-in-trauma-medicine

Nerd Lunch
64: The Adventures of Robin Hood (1938)

Nerd Lunch

Play Episode Listen Later Nov 15, 2021 155:08


Everyone loves Robin Hood and we're no exceptions. Michael and Rob welcome Pax, Sue London, and - making his podcasting debut - Sue's husband Devin for the first in a series of episodes about the legendary merry man. Starting with the panel's experience with the Robin Hood legend in general, the conversation then moves to the classic 1938 film The Adventures of Robin Hood. Starring of course Errol Flynn, Olivia de Havilland, Basil Rathbone, and Claude Rains.

The Scarecast - Scary Stories & Creepypasta
S5E10 - Pizza Mikes (Scarecast Originals)

The Scarecast - Scary Stories & Creepypasta

Play Episode Listen Later Nov 13, 2021 29:19


Discuss this bedtime story on Discord: https://discord.gg/76hsEhuzCr----------------------------------------------------------"A guy deliveries pizza to my house every night"Written by PoloniumPoisoningCheck Out PoloniumPoisoning's Page: https://www.reddit.com/user/poloniumpoisoning/----------------------------------------------------------LINKS: ► Linktree (All Links): https://linktr.ee/thescarecast► Discord: https://discord.gg/76hsEhuzC► Facebook: https://www.facebook.com/thescarecast► Instagram: https://www.instagram.com/thescarecast/► The Scarecast Store: https://thescarecast.com/store/► TikTok: https://www.tiktok.com/@thescarecast?lang=en► Twitter: https://twitter.com/thescarecast► Snapchat: https://www.snapchat.com/add/maddmikehorror► YouTube: https://www.youtube.com/channel/UCocibyDCoJe5mma8TjKv_XQ----------------------------------------------------------SHARE YOUR HORROR STORY (3 Ways):► Send your stories (written or recorded) to mike@thescarecast.com► Post your story on my #stories​ channel on my Discord► Request to be on The Scarecast Radio by filling out this Google Form below: https://forms.gle/gHjB2dLreM7gSqN66----------------------------------------------------------SPONSORS:Grammarly: Get 20% OFF Grammarly Premium by signing up at: https://grammarly.com/scarecastLiterati: Get Your $0.99 Trial by signing up at:https://literati.com/scarecastRobinhood: Get your FREE Stock Today by joining Robinhood:https://join.robinhood.com/michaec4649Uber: Get a FREE Ride Today by signing up through this link:https://www.uber.com/invite/michaelc43043ueUpstart: Lower your monthly payments today with one consolidated loan!https://upstart.com/scarecast----------------------------------------------------------Fill Out My Podcast Survey:https://docs.google.com/forms/u/1/d/e/1FAIpQLSdDKSnxz8UbMDqbaD9Hkbh957n-xOg64iAP1SKzNhgGiUfl5A/viewform?usp=send_form----------------------------------------------------------Text "scarecast" to 213-523-2890 to sign up for my text notifications, get notified every time I release new episodes, put out new merch, send bedtime stories, upload youtube videos, or for general announcements. Text Marking powered by TextSanity, go sign up so that you can explore their text marketing services to help expand your business! https://textsanity.com/If you can, please rate and review my podcast on your respective podcast player and share this episode with your friends!

Pivot with Kara Swisher and Scott Galloway
GE's Three-Way Split, Facebook Scraps “Sensitive”Ad-Targeting Categories, and Friend of Pivot, Jonathan Haidt

Pivot with Kara Swisher and Scott Galloway

Play Episode Listen Later Nov 12, 2021 69:43


Kara and Scott discuss GE's plans to split into three companies, Facebook's decision to disable ad targeting based on sensitive categories, and the Twitter Blue rollout. Also, a data breach at Robinhood, and Adam Neumann's return. And Scott gives us a prediction on M&As in 2022. Plus, Friend of Pivot Jonathan Haidt on social media's mental health effects. You can find Jonathan on Twitter at @JonHaidt and can find more of his research at thecoddling.com/better-social-media. Send us your Listener Mail questions, via Yappa, at nymag.com/pivot. Learn more about your ad choices. Visit podcastchoices.com/adchoices

None Taken
E 103 Los Estados Economidos

None Taken

Play Episode Listen Later Nov 12, 2021 76:24


Is OSHA unconstitutional? A morning after pill for covid? China plays missile target practice with us ships, and plans on making more nukes... lots of nukes. Poland and Belarus on the brink of war. More January 6th subpoenas. Dude, we have a lot of topics: the Steele Dossier, the Supreme Court, job numbers, the Fed, Blue Origins, SpaceX, Tesla, Elon, Robinhood, Meta, Aaron Rodgers, Kyle Rittenhouse, Zillow, and more. So much show. --- Support this podcast: https://anchor.fm/None_Taken /support

Grumpy Old Geeks
530: The Other Shoe

Grumpy Old Geeks

Play Episode Listen Later Nov 10, 2021 56:03


Self-driving cars, still 20 years away; Facebook won't use facial recognition, but Meta sure will; Phhhoto; Elon Musk's tax bill and twitter infantilism; delete your tweets; socialized robots; Uber to dispatch... taxis; ABBA; Olivia Rodrigo; the Cranberries & Sinead; Dexter; Four Hours at the Capitol; Star Trek; Stranger Things; Microsoft OneDrive; Alexa following you; USB chargers; Grammarly; Range by David Epstein; I have the best words; bricked Macs; NextDNS; Robinhood hack; 2FA Google; disrupting parking lots.Show notes at https://gog.show/530We're also sponsored by Hover! Hover is the place to get the best domains. With over 300 top-level domains to choose from. Go to Hover.com/gog and get 10% off your first purchase.FOLLOW UPTech Can't Fix the Problem of CarsIN THE NEWSAn Update On Our Use of Face RecognitionFacebook is backing away from facial recognition. Meta isn't.New antitrust suit from Phhhoto alleges Facebook copied and killed the competitionA forensic analysis of Elon Musk's Twitter poll on Tesla stockElon Musk faces a $15 billion tax bill, which is likely the real reason he's selling stockElon Musk, world's richest edgelord, responds to billionaire tax with another stupid tweetTwitter is rolling out a feature to make it easier to search a user's tweetsResearchers are working on giving robots social skillsApple hires Tesla's director of Autopilot softwareUber considers dispatching yellow taxis in New York CityMEDIA CANDYABBA - VoyagesOlivia Rodrigo - SourSalvation - Inspired by the Cranberries for Pieta Dexter Season 9FinchDoes the Dog Die?Four Hours at the Capitol'Stranger Things' season 4 teaser hints at trouble in California (update: release info)APPS & DOODADSMicrosoft OneDrive app will stop syncing with Windows 7 and 8 on March 1st, 2022Alexa now allows you to move music among different devices with your voiceUSB C Charger, Anker Nano II 65W GaN II PPS Fast Charger Adapter, Foldable Compact Charger for MacBook Pro/Air, Galaxy S20/S10, Dell XPS 13, Note 20/10+, iPhone 12/Pro/Mini, iPad Pro, Pixel, and MoreGrammarly rolls out full set of features to iPhone and iPad usersAT THE LIBRARYRange: Why Generalists Triumph in a Specialized World by David EpsteinMerriam-Webster's Everyday Language Reference SetSECURITY HAH!The CyberWireDave BittnerHacking HumansCaveatRecorded FutureWhy Rollerblading DiedApple fixes macOS Monterey flaw that bricked some T2 MacsNextDNSFuck HBOThere may be a steep privacy cost if you park at this Trader Joe'sRobinhood Says It Was Hacked and Extorted But Nobody Lost Any MoneyGoogle wants every account to use 2FA, starts auto-enrolling usersSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The NewsWorthy
Climate Deal Wishlist, Robinhood Hacked & Perfect Bedtime? - Tuesday, November 9th, 2021

The NewsWorthy

Play Episode Listen Later Nov 9, 2021 13:11


The news to know for Tuesday, November 9th, 2021! We're talking about the goal nearly 200 countries are working on: a formal agreement out of COP26. What's on the table and why some activists aren't happy. Also, new details from inside a chaotic music festival, the lawsuits that are piling up, and help for people who were traumatized. Plus, what new research found about a perfect bedtime, what Robinhood customers need to know about a recent cyberattack, and how items from one musician's old closet are raising millions of dollars for a good cause.  Those stories and more in around 10 minutes! Head to www.theNewsWorthy.com/shownotes for sources and to read more about any of the stories mentioned today. This episode is brought to you by JoinCrowdHealth.com/99 (Listen for the discount code) and Rothys.com/newsworthy Thanks to The NewsWorthy INSIDERS for your support! Become one here: www.theNewsWorthy.com/insider