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    The Tech LowDown

    Insight, Information & Inspiration from Entrepreneurs and Thought Leaders

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    Latest Episodes:
    Blockchain & Chartercoin with Timothy Fletcher Dec 04, 2017
    Show notes

    Welcome to the Tech Lowdown Show where each episode we’ll be discussing opportunities in the tech space with entrepreneurs from the US & around the world
    I’m your host Chris Jones – Two of the hottest words in tech are Bitcoin and blockchain. I’ve been dying to do an episode on this emerging technology area as I believe it’s something that anyone with an interest in technology and the future of technology should know about. Bitcoin was created by the pseudonymous Satoshi Nakamoto and is the most valuable cryptocurrency in the world today. It is also the first application of blockchain technology. Earlier this year I went down the blockchain rabbit hole and eventually came upon today’s guest who I’ve been working with.

    Our guest today is Timothy Fletcher. Tim is the founder of a new cryptocurrency preparing to come to market called Chartercoin. Tim is a polymath, someone with deep knowledge across a wide range of complex subjects. He’s a computer scientist and an expert in cryptography, AI, and anti-AI among other things. Tim is currently an FSO – Facility Security Officer and Systems Administrator with over 170 completed projects across government, military and commercial projects. Tim, welcome to the show – What’s the Lowdown? – Tim, I want to start by just asking a bit about your background. Where did you go to school and what did you study? Can you to tell the audience what blockchain is and why you think there is some much buzz about it? Where did your interest in cryptocurrencies and blockchain originate? Cool, so what is Chartercoin and what makes it different than Bitcoin? I’ve read where quantum computers will be able to break the encryption for Bitcoin and other currencies. Can you tell us how CharterCoin addresses this concern? There has been a lot of discussion lately in the crypto community about forks. You’ve said that CC cannot be forked. This sounds important. Can you tell us what a fork is and why CC can’t be forked like other currencies? I want to pull back from the technical side a bit and ask you this – why are cryptocurrencies gaining in popularity? I mean they’re not backed by any governments and given the ICO craze it seems like anyone can create one so what’s the benefit of these currencies? The Real Lowdown Segment Take off your CharterCoin hat for a minute and tell me, from a neutral perspective, how does the core protocol compare with what’s out there on the market? You’ve told me about a number of your inventions – what else have you developed that you see having application in the future be it with CC or on its own?

    Professional Manager to Entrepreneur to Investor Oct 03, 2017
    Show notes


    Most of us, when we think about entrepreneurship today, we envision founders who’ve built businesses from the ground up and taken them to new heights. People like Gates, Jobs or Zuckerberg often spring to mind. We watch shows like Shark Tank and envision unknown founders getting their big break by getting investment from famous founders who’ve already made it big. But in reality, entrepreneurs and entrepreneurship comes in a wide range of forms. Some entrepreneurs buy established businesses, some, like today’s guest are brought in by the owners to take a business to the next level and in the process become owners themselves.

    – Will Daly is currently the Operating Partner at Periscope Equity and a Founding Partner at Flanner Hall Partners, both private equity investment firms investing in high growth ventures. Prior to becoming an investor Will served as Co-President, COO and CFO for Barcodes Inc, N. America’s leading provider of barcode, mobile computing and RFID technologies. – Will is a graduate of the University of Notre Dame and Northwestern University’s Kellogg School of Business. – Will…Thrill, welcome to the show – What’s the Lowdown? – First, give us a quick couple of minutes on your background and how that lead you down the path towards Barcodes. – I want to do a deep dive into how private investment firms in this space operate. Can you start by giving us an overview of how firms like yours identify businesses and then go about placing executives in those businesses? – Tell us about Barcodes and exactly where the business was at the time that you got involved. What was the negotiation like and what were the key points that were important to you? What kind of stake is typical for a manager coming into a situation like this? – Did the business require additional investment when you came on board? If so, how did you get the firm to stump up the cash? – You were at Barcodes and during that time the company went through 2 exits where you and the management team stayed in place. What was that experience like and what did you learn during the 1st exit that you were able to apply during the next one? – What role did the different PE firms play while you and Dan were growing the business? Were there opportunities you were able to take advantage of or constraints that held the business back at times as a result of this structure? – How does one even get on the radar screen of PE firms to be considered for this opportunities like this? The Real Lowdown Segment – Did you have any sway or influence during the exit process or was that completely outside of your control? – How might you have run the business differently if you and Dan had full control of the business? – What mistake or mistakes did you make that stood out to you during this process? – You’re now on the other side of the fence investing in businesses and people – what are you looking for in the businesses and the people you want to run the companies?

    Live From the Tech Inclusion Conference Seattle Jul 05, 2017
    Show notes

    Chris: Welcome to the ‘Tech Lowdown Show’. I’m your host Chris Jones. Today we’ve got a special treat for you as we’re getting out of the studio and talking to speakers and attendees at the ‘Tech Inclusion Conference’ held in Seattle, created by ‘Change Catalyst’ and hosted by ‘Galvanized’. The conference focuses on solutions to the diversity challenges in the tech space, jobs, funding, access opportunity and much more. This is a great opportunity to hear from some of the change makers, people working every day across the tech ecosystem to bring a bit more fairness, a bit more openness and a bit more access to under-represented groups in tech. Speakers and attendees included a dynamic diverse group racially, ethnically, physical abilities, and sexual orientation. When I talk to attendees and speakers representing entrepreneurs, recruiters, VCs and much more. Our first guest is Eric Osborne whose here in Seattle, one of the most influential group through diversity and inclusion in Tech here in Seattle. I’m here to Tech Inclusion Conference with Eric Osborne, the founder of HERE Seattle, had a number of events like this. What makes this Tech Inclusion Conference different or special? Eric: I think it’s special. The Tech Inclusion event is special mainly because it’s one of a kind; it’s something that I don’t think I’ve seen before. As you know there’s been a lot of work going on around the resident inclusion, so it’s natural to have people get together and congregate and talk about all the issues that’s going on and hopefully move the neighbour fuel when it comes to diversity and inclusion. Chris: One of the things I’ve noticed is that the faces, the people that you see here definitely at tech conference I’ve been to not just black and white and brown but also physically did handicapped, deaf, hearing impaired, unbelievable sense of diversity here. I didn’t know that I was even here in Seattle. Eric: You know what, I mean we, ultimately before I was a co-founder here in Seattle, that’s one of the things we started in Seattle in 2014. It was specifically to bring the community of diverse people together so that we can say we are here, we are working in tech and we are you know, thriving in it so definitely plain for us so this conference is definitely going to be different from most typical tech conferences because of the diversity of the topic and I think that it’s a great start but I’m sure we are going to be seeing a lot of more things similar than this. Chris: Yeah I’m looking forward to seeing what Wayne and Melinda do with a Change Catalyst to do this Amazing stuff. Thanks for your time. Eric: All right, have a great day. Chris: Next we’re going to get a perspective from one of the top diversity recruiters in this space, Steven Matly, C.E.O. and founder of SM Diversity. We’re here to Tech Inclusion Conference and talking to Steven Matly, CEO and founder S. M. Diversity, a full service staffing recruitment agency. Steven, you get to see how companies are tackling the problem diversity from the inside. You describe for us how the best companies in terms of hiring and retention are helping to ensure the success of their diversity initiatives. Steven: Thank you, great question. So first off, some of the best companies and I’ve seen are the ones that aren’t always the ones that are being highlighted with the best place to work. You’ll be surprised that you know what P.R. and what perspectives and what news outlets and the lip service is out there. So I will first address that, but there are a lot of folks that are champing for this, advocating for this. You know some people say, wow diversity, what are you talking about? This’ been around you know since affirmative action. See well that’s the thing, the mind-set has shifted. The folks that I see that are leading the charge are the ones that shifted from compliance to competitive. And what I’m talking about is that on boarding experience. What’s your first day look like, are you being welcomed; is that not welcome at being a set of people that are taking an honest look at you know, what a higher practices are broken and they can be improved. I mean especially in the tech industry that prides itself on innovation, in disruption, we still are using out-dated, old fashion thinking behaviours, processes in ways that we attract talent, retain talent and advanced talent. And so the ones that have seen, that are in the forefront of these are the ones that one, its visible communicate visibility from top down, there’s some programs in place, there’s activities in place and the values are constantly being addressed internally, externally and the best way I could summarize all that ones. The ones that are leading are the ones that put their employees first. So if you have, if you’re a company that sells an audience, in you’re all about customer centric, well think of your customers and employees. So if you use your voice of the customer where you say hey we sold to these companies and because you’re like these come to you should buy our products, well flip that around. Hey we have these type employees or we’re seeking to get more of these types of employees and we put that in the forefront and highlight those stories in those journals and that we’re committed to getting more of that. That’s how you sell voice of the customer to attract more of the diverse population that you’re looking attract. Chris: Oh, that’s brilliant. I know one of the challenges that companies ought to have is they get folks in the door but then haven’t put in the infrastructure to support those folks, and they end up leaving. What are you seeing happening there and what can we as candidates coming into those positions do better to ensure that we have existing success once we get into those positions? Steven: Great and you know I wish I could echo a lot of the things that the panellists said today around. You know you’re hired on board for diversity inclusion like what’s next after you walk through those doors right. It’s your first day, there’s a lot of things that can be done and so you know to from an employer’s standpoint, how you retain, as you see is going to continuously refine and have humility and to understand that you, it’s not flawless. You have to if you’re seeing a higher proportion of your workforce especially women or people of color leave a certain department. So let’s say sales, you should be rallying around creating programs and investing into programs and people to investigate why is this happening, in finding a trend and do those trends you know, assessing that and then going in to find the right resources to educate and train yourself. It’s no different than like if you were hiring for salespeople and all your salespeople were missing their quotas. What is it that you could do to support them and in what areas. It doesn’t have to be a shotgun approach, it just basically takes a time for you to listen, to assess, to pivot and then provide the right resources and support and then measure those results. And I will quote the C.E.O. of Seattle Microsoft saying, look it’s not about just experts and gurus, because then you get the sense of that’s it, the expert and gurus, they’ve figured it out. No, it’s about testing your hypothesis; you see we’re still breaking ground and this is a way for you to test your hypothesis. So continue to test your hypothesis, your ideas, your thoughts and see if it’s effective or not. And every organization is different. Chris: That’s brilliant. Thank you so much. I want to find out how people can find out more about SM Diversity because you obviously know your stuff. Steven: Thank you. I’m always looking, listen to learn, to partner, to share. This is something that we at Mercer saw day in and day out. You can find us on smdiversity. com. If you type in diversity recruiting Seattle, I believe for organically the first page result as well. My name is Steven, in S.T.E.V. E.N. Matly, M. A. T. L. Y. And I’m very active on LinkedIn. Thank you. Chris: Wonderful. I’ll make sure we have that in the show notes. Some really insightful stuff from Steven Matly and I encourage you to reach out to him. Chris: Next up, one of my favorite parts of going to events like this is to be able to speak with entrepreneurs who are out there trying to make things happen themselves. Next we speak with entrepreneur Sidney James. Here with Sidney James at the Tech Inclusion Conference, thanks for talking to me Sidney. Tell me what brings you to the Tech Inclusion Conference today. Sidney: I had actually known Wayne, I’ve been known Wayne say for a couple of years, he sent me an invite and let me know the event was going on, so I came out to support him and want to find out more about what the Tech Inclusion was all about and once I got here, I got to get run over to that to start within two hours and arrange to you … Chris: So tell us, you’ve got a start-up, tell us a little bit about your start-up. Sidney: Basically, our start up is called Confer. We reduce travel expenses for small to medium size companies. So basically what we do we aggregate those small to medium businesses and give them the same parks and powers as the lower companies. Chris: Very interesting, how long did you get it started up? Sidney: I’ve been working on it for about a year and a half now so we finally got to a point where we had to start work on the partnerships and development stages now. Chris: That’s exciting. Are you raising capital, you bootstrapping it? Sidney: We bootstrapped today. I think we might delay raising capital you know it’s kind of hard a time. Chris: Hard to turn down when it comes but delay doesn’t care, that’s exactly what you’ve heard, interesting. Right did you get invite from some sort of mentors that you talk to here? Sidney: Oh yes, I actually did. I actually made a good connection with the chief [unclear 10:27] HR consultant firm here. So there is going to be a very good contact for me in the future, I’m moving forward. Chris: Good. And lastly, what’s your background, how do you end up getting into the disc space? Sidney: I went to the University of Alabama. After I left there I went to finish the start-up Engineering program at Georgia Tech and I started my executive MBA at University of Miami, so Chris: Wonderful, so you are coded, you’re on the coding side. Sidney: I’m on the business side. I’m not on the coding side. I wish I were but I’m not. Chris: Wonderful. Do you have any Tech co-founder or you don’t have. How do you want to go about setting it up? Sidney: Yes. I do have a Tech co-founder, is by the group of [unclear 11:05] so we have a pretty solid team I would say. Chris: Wonderful, really appreciate the time, Sidney thanks. Sidney: Thank you. Chris: Next, I get a VCs perspective on the value of diversity with respect entrepreneurs and founders in creating value for investors. Heather Redman, Co-founder and Managing Partner, Flying Fish Partners shares her insights on this topic. Hello here in Tech Inclusion Conference, I’m with Heathen Redman, co-founder, managing partner, Flying Fish Partners, an early stage software technology investment firm. She’s had an incredible career, split between business and law. I wanted to ask why is it important for you to be here today? Heather: Well I’m super supportive of all the stuff that we’re doing in communities doing collectively to try to promote diversity in our ecosystem. We just need more people starting companies. Our company starts here in Seattle are really not where we should be, given the talent pool. The chamber which are I’m a member of a board of has this initiative called 100% Talent which I love that orientation because it’s like everybody off the bench, everybody on the plain field, let’s take it down with all the talent we have and events like this are a big part of that. Chris: And if there’s any one message that you want entrepreneur and potential entrepreneurs in the audience to take from today, what would that be? Heather: Start a company and come see us to get some dollars. Chris: I love it. I’ll be talking to you. Heather: OK. Chris: And really interesting perspective from Heather Redman there and I encourage you specially if you’re in Seattle area starter to reach out to Flying Fish Partners. Next we’ve got two more interviews to share with you today and I’m going to roll them back to back. The first is Godfried Addae, Microsoft’s representative on the Cloud Infrastructure team, and then we’ll finish up with David Harris, Start-up Advocate for the city of Seattle on the role of government plays in supporting a more inclusive ecosystem. Here at the Tech Inclusion Conference, I’m going to Godfried Addae. Godfried, why are you here today? What are you going to get in this event? Godfried: I’m here on behalf of my company. I work for Microsoft and any event that are most tack and inclusion, I’m definitely interested and would like to bring those learning back to my organisation. Chris: Wonderful, and tell us, what do you do with Microsoft and what do you aspire to do long term? Godfried: Yes, so my day job right now is a quality engineer with the quality infrastructure operations team and we’re basically a team that builds the data service that’s part of the Cloud’s shoot supply chain. I’m in Tech Cloud operation. In terms of aspirations, I’m open. You know, ten years ago, I didn’t think I’ll be here so I don’t know what I‘ll do in the next ten, but I’m in a certain space where it’s full technology and rosy hard topics, so I was somewhere in the intersection of both of those. Chris: Wonderful, I just finished up with; is there anything specifically tangible that you’re hoping to get out of this conference personally? Godfried: Yeah personally, just awareness and education. I’m always I’m learning. I like to hear other people’s perspectives and obviously diversity a little bit more than I need diversity to broadening my awareness on gender diversity as well as being inclusive to those with disabilities. Now we can be more welcoming of those groups in our companies and organisations. Chris: Wonderful thanks for your time. I appreciate it. Godfried: Thank you. Chris: So I’m back to you for the Tech Inclusion Conference. I’m talking with David Harris, the Start-up Advocate for the City is Seattle, tell us a little bit about first what your role is with the City of Seattle and how the Tech Inclusion Conference plays into that. David: Yes, it’s good to be here, and I have two parts tomorrow. One is to hope play matchmaker for Tech startups in Seattle to nurture and grow to start a community here. The other half, my job is to help connect under-served communities with the tech industry and we help support organizations that especially work with youth, women, people of color and formally incarcerated. Chris: Great, and can you tell us a little about the politics you’ll be speaking on, in what issues you’ll going to be speaking to on that panel? David: Yes, so I forget the exact name of the panel but basically we’re going to be talking about the role of government in policy making and creating an inclusion tech ecosystem in a city. So that’s something that is right up my alley and I’m looking forward to hear from some other folks on the panel as well in just learning but also hopefully I can share some words that would spark up inspiration or make some connections for people to go forward. Chris: Great, and lastly as an entrepreneur, when would I need to reach out to you? What kind of doors did the Startup Advocate open up for entrepreneur? David: Yeah, a lot of people come and they just have an idea, they want to know how to get started or maybe they’re looking for a technical co-founder or maybe they have traction in revenue already in their start up, and their looking for funding. And I hope this really shortened path of finding information about those things. And as I meet more and more people th…

    Full show notes at the publisher

    Preparing for Entrepreneurial Success – One Woman’s Journey Jun 10, 2017
    Show notes

    Jones: Welcome to the ‘Tech Lowdown Show’ where each episode will be discussing opportunities in the tech space with entrepreneurs in the U.S. and around the world. I’m your host Chris Jones. I speak with a lot of entrepreneurs who are locked in the struggle to create something new and oftentimes we talk about how entrepreneurship is in the blood, why to some extent I believe there’s some truth to this, it doesn’t tell the whole story. There is a path of preparation and learning that can be paired with that natural inclination toward entrepreneurship that can help set you up for success. Today we speak with a ‘Silicon Valley’ entrepreneur who in my opinion has put in the preparation to be successful as an entrepreneur. Dorothee Gutierrez Fisher is co-founder and CMO of Designer Inc., a B2B sourcing in purchasing platform for the interior design industry. Her resume speaks volumes about her. She’s held marketing leadership roles with Nestle, Home Depot, Visa, and YouTube and spent some time at Formspring Bay Area Start-up before launching Designer Inc. Dorothee is a graduate of U.C. Davis and luckily for me a classmate of mine at Kellogg School of Business. Dorothy, welcome to the show; what’s the low down? Dorothee Hey Jonesy, how are you? I’m excited to be here. Jones: Wonderful, it’s awesome to have you. I’m looking forward to this conversation. Dorothee: And so am I. Jones: Good, so I want to talk about separation and the work that you put into prepare yourself for where you are today. Can you start by telling us a little bit about your background and if the desire to create a business was something, always something you have vision for yourself or did it evolve to get there? Dorothee: I think I probably evolve to get there. I started my career at ‘Power Bar’ which was the inventor of the energy bar category. When I started, really it was more like a startup so I was really starting my career in the startup environment without really knowing I was there. We had sixty employees and while during the five years I was there, we launched five different programs. I was able to work in every discipline of marketing, from new product development, advertising and promotions, and it was just fascinating to see what we took, what it was like to take a contact on people and launch into the marketplace. At the same time though, being living in San Francisco, the tech market was exploding in my backyard. This was during the era when Netscape I.P.O. and so many industries were being disrupted by the Internet space and I wanted to be a part of it. I was completely inspired and fascinated. And so from there you know what, I went to Kellogg in order to really prepare myself. I focused on Finance, Strategy Marketing and I wanted to build all my skill sets so I could really enter this marketplace with everything I needed to succeed. I interned at E-bay that summer between the two years, but by the time we graduated unfortunately, [Unclear 03:14] returning my calls saying we’d love to hire you but I just lost my job so I’m still good luck. So you know from there I looked you know, to see what other skills that I can acquire along the way. As I keep looking for those opportunities and enterprise in Tech, I did a stint in General Management at the Home Depot. I did Loyalty Marketing and Marking Strategy at Visa, and then finally in 2006, 2007, I had the opportunity to join You Tube and I jumped on it, and then that led me to form Spring and then now my latest venture, Designer. Jones: That’s awesome, so you were the first marketing person at You Tube after they were acquired by Google. What was that like and what did you learn from that experience? Dorothee: It was amazing; everything was a new use case. There was no precedent set. So you were creating a foundation for all. You know when you were asking yourself questions like you know, for consumer product marketing program can we really put a user on the red carpet and interview top levelstars, Hollywood stars, or you know we’ve got a premium content partner who wants to put their Constantine Huge. How do we even think about launching that now? There was just so much white space to figure out, so I was really lucky in the sense that I was able to establish the foundation for partner marketing, develop the brand strategy and foundation. I did product marketing for some really cool products and new features and I mean it was it was a trailblazing experience and it was really exciting. You know I think what I learned there is that you know while it’s exciting to create something so new and to help figure out that white space, it’s also you know, very daunting and you know there’s a phrase in Silicon Valley that, you know, ‘failure is welcome; you want to fail, and fail fast and thus learn through your mistakes quickly’ but you know you yourself never want to be that person who makes that mistake. Jones: Somewhere else, not definitely here. Dorothee: All learned in the board but you know what I learned the most in that incredibly fast paced environment was ‘you’re never going to have perfect information’. You’re never going to have all the resources you need, all the data you want and you can’t get caught up in the analysis. You’ve got to move forward with imperfect information and to really get comfortable of initiating projects and moving forward execution. Jones: That makes a lot of sense. You then made the jump from big corporate, and moved over to Formspring, a fairly well funded start up in the valley at a time. That would have been a big change for you. What were you looking to get out of that experience? Dorothee: Yeah well, when I joined Google or the You Tube team of Google, it was really new. Again, like I said, there was a lot of new ideas, new departments that we work, that we are establishing and figuring out. And it was thrilling it was absolutely thrilling to be in that space but after several years, I started to feel like a big company, and I wanted to go back to that sort of environment where I could have more of an impact. When I joined Formspring, it had an immense following. It was actually the fastest growing social media network in Internet history. Many people think it was Pinterest but it was actually Formspring. In the first forty five days I had a million users, in the first eighteen months, I had twenty five million users. I know what about social network, amazing right. As they were trying to maintain that grows, and it was an exciting challenge that I wanted to work on. Jones: Interesting, so during that time at Formspring, what did you see? I mean for like when it’s growing that fast and then it went out of business, it closed up shop not long after you left, so what were you seeing at that time? It was either giving you an inkling that things weren’t going to keep going or that you were going wow this is amazing and I should be here. Dorothee: Right I think, I mean what I learned with warm spring is, easy come easy go. We had huge surge in users; a lot of them were young users, and they were, their very fickle and they’re hard, they’re capricious and they move to the next shiny thing when it that comes about. And so I think you know when you’re, as you are growing your user base and building a community, you really want to be thoughtful about how you build that community and how you maintain that. I think is meant so that the next new thing isn’t so attractive that you know you have the need that you have on your platform is what keeps people there. Jones: Interesting, indeed you have any inkling at the time when you were preparing to leave that things were going to be slowing down for those guys or was it like you say Easy come easy go, that they happened superfast. Dorothee: No, I mean, I think it plateaued and then we were able to grow it some more but what was pretty frustrating is that because it had such a huge success early on, when we were looking to get our Series B, investors couldn’t ignore that early. And so if you had just cut that tale from the early years and you looked at the stage that we were at where we were growing, we had great engagement. That would have been a success story of itself in a runnable idea, but you know investors couldn’t ignore the huge success that it had early on and it looked like a slow growing company at the time which it wasn’t, and so I think when you know when I saw that it was, we were going to have a hard time raising that series B. is when I started to consider other options and that’s when Heather and I connected. Jones: Got it, yes so at that time you begin the search; if you think about your own business, what was that thought process like for you and how do you know you were ready? Dorothee: Yeah I mean, I was always inspired by one of the founders. I was able to work with Chad Hurley, You Tube did have a tech background. It was a designer paper a little bit he started with a simple and profound idea. He built this huge company one of the most impactful companies in internet history and same with I had a creating such a you know fast pace going company with Warm Springs. I was surrounded by really inspiring people and inspired by the creativity and innovation tag. I didn’t have my own specific idea at the time but I was ready to jump on a really interesting idea, and that’s when an old friend of mine and also You Tube colleague, Heather Gillette, she was eight employees You Tube and we worked there together while I was there too. She reached out, she had this really unique concept for our initial business called Nous Decor, it was an interior design site for consumers and she was in the process of her friends and family round, financing round and she needed help with her pitch Texas. She reached out to me and you know if there’s anything that I learned that Google was like knowing how to make presentations and put decks together over and over again, so I helped her on that and as soon as I saw the concept I fell in love with what she was doing and I wanted to work on it with her, so that’s how we paired up and that’s how I jumped in the purse you know in the start of base. Jones: Interesting so would you consider yourself to be a techie; do you code, what’s that role, how do you define the role that you play in the tech ecosystem? Dorothee: Yeah, I don’t code I definitely appreciate and respect the engineers who can build beautiful products. What I bring is an understanding of a marketplace, whether it’s from a business perspective, a B2B side or a consumer perspective, I really understand the mindset of the decision maker and how to build a community around that. So that’s what I bring to the table with my marketing experience and applying that it to technology and technical products. Jones: Yeah, I often have a lot of discussions with folks who don’t understand where the marketing folks can apply the skills in a technical environment and because it’s oftentimes techies that are building or starting these businesses and they don’t necessarily have the business or the marketing background to be able to apply and understand how their technology applies to a consumer. So the role you play is a valuable one. I often tell people I don’t code but I speak a bit of it. In essence saying hey, I can translate what it is that you’re building into something that people can understand and use so as to where I often pitch it. OK, so you started Designer Inc with the launch of Nous Decor and then you evolve the business from there. Tell us about the businesses and what led you into the interior design world which you touched on a bit and which is very different from the one in which you were coming from. Dorothee: Yeah, so my background is in Marketing and the last ten years has been in tech. I didn’t have experience in interior design but I always love beautiful things. I always had a shelter pub that design magazine in my bag or on vacation or my car, my coffee table at home. I love beautiful things. The original business was for Nous Decor where anyone can now get the design help they needed at affordable flat fee and that really appealed to me on a consumer perspective. We had heard so many horror stories in the industry about online design services that serve more as a marketplace of matching a junior designer where the clients and how those projects went wrong, you know. Junior designers were making some very basic mistakes for the client and when we were going to be in the space, we wanted to make sure that not only were all our designs free of those really basic errors but absolutely beautiful; they had to be stunning. So we wanted to work with an in-house team and we had a cohesive design process which was created by our chief designer Mark Cutler. A little bit about him, he’s a famous designer, actually out of Los Angeles. He’s been designing for thirty years. His clientele boasts Hollywood A Listers International Royalty Silicon Valley. Exactly, that’s actually how we got to meet him was through mutual friends slash clients and Silicon Valley. So we designed this; he helped us design this cohesive design process with an in-house design team so that we could create consistent beautiful designs and you know we succeeded in that last summer. Actually the Wall Street Journal mystery shopped us, they shopped our service and two other competitors in the online design space and we came out as the winner. They actually referred to us as the dream team so it was a huge celebration for us. But with that you know, with an in-house design team, the constraints that we had is that we had limited headcount and it forced us to scale in other ways. We had to work quickly and we had to work in a way that we had maximized profitability, so we build those tools to help us do just that. We built our own search engine with Trade Only Products. Trade Only Products, our furniture in the core products that you have to be a designer or a reseller in order to have access to them and the margins are much better, thirty to fifty percent. And we were now able to source very quickly rather than go offline book to book or jump from one design site to another which was incredibly laborious. When you’re designing, this part of the process sourcing and purchasing is the most labor intensive and time intensive part of the process. With our own tool, we were able to cut our sourcing time in half and our product margins tripled and when we realize that we’re like wait a second, we’re solving a much bigger pain point in the industry and there’s a huge opportunity by the way. The first sixty billion of furniture is actually sourced and purchased through interior designers every year. This was a much bigger opportunity for us and that’s how Designer Inc was born. Jones: So early on you guys launched there and raised a fair amount of angel capital. What was that process like and how did that spring what you got? Dorothee: Yeah, I mean raising capital is so interesting. I think it’s hard when you’re working in a space that the valley doesn’t really understand interior design and it’s in the marketplace, more so for women, it’s not the easiest to understand. I think when you’re talking with traditional VCs we had a lot of luck with Angel investors who are seasoned in the valley and saw this opportunity for us to believe in what we were building. So we were really lucky early on to get that capital and build out Nous Decor with that. Jones: Interesting so what about being an entrepreneur, especially being a female entrepreneur in the valley. Did your previous experiences prepare you well for and what has surprised you? Dorothee: Well, I think you know being a female entrepreneur, I think what comes naturally to women is, we’re very community oriented and we build relationships quite easily and that’s something that’s really important in the design industry. It’s especially on the professional side, it really relies heavily on…

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    Where Are All the Women? The Changing Face of Technology May 22, 2017
    Show notes

    Chris: Welcome to the ‘tech lowdown show’. Each episode will be discussing opportunities in the tech space of entrepreneurs from the U.S. and around the world. I’m your host Chris Jones. Our guest today is literally changing the face of the tech world. The statistics on women in the tech industry are staggeringly dismal for such a large industry. Less than twenty percent of software developers in the U.S. are women. African-American, Asian and the Latina women combined represent just eight percent of the computing workforce. Also just zero point four percent (0.4%) of high school girls choose Computer Science as a Major. I can go on and on with dismal stats highlighting the problem but today we’ve got a tech industry veteran who not only knows the numbers but is also doing something to change it. Cynthia Tee is the executive director of Ada Developers Academy, a free training program for women and non-binary people who want to become software developers. Cynthia is an MIT grad who spent twenty years at Microsoft working on everything from the Windows Appstore to tablet P.C.’s. Now she’s beginning her third year leading Ada Developers Academy which is graduated over one hundred fifty students and has a ninety seven percent placement rate for its alumni. How’s that for making real change. Cynthia It’s a pleasure to have you on the show, what’s the low down. Cynthia: Hi Chris, it’s honouring and a pleasure to be on this show as well, and I am. Chris: Wonderful, I’m excited to get into this. I want to start; you graduated with a master’s degree in Computer Science from MIT at a time when there were even fewer women in tech. What drew you to Computer Science at that time and what was your early experience like in the tech space. Cynthia: You know I had parents who really encouraged me to get into science, math and actually Computer Programming. My father bought me a computer at a very young age and so I got some exposure there. And I was really fortunate to have parents to really encourage me to enter this field and so you know, I grew up in the Philippines in Asia, and so it was my parents were educated in the United States and I also aspired to go to university in United States. And they really encouraged me to pursue Computer Sciences as a major. So that’s how I chose it and I’m at it. Chris: That’s interesting and what was it like for you in the early days? Were you the only one in the classes? What was that experience like? Cynthia: Well, they were like carnivals essentially who majored in Computer Science out of a class of over a thousand. So it was quite, we were quite a minority and we all knew each other and we were able to work together and it definitely felt very different and intimidating at times. I definitely experienced that in as much as I had a little bit of exposure. I would walk into a classroom and everybody else seemed to know a lot more than I did and I played around with technology a lot more. But I just kept on going and eventually got an internship and ended up at Microsoft. Yeah it’s been good always since, so. Chris: Wonderful, I know I read an article where you mentioned that you were, when you started at Microsoft, your managers , your managers, managers right up to Bill Gates were all women. What was that experience like and I read that you said you didn’t realize it wasn’t normal at the time. Cynthia: Yeah you know I certainly went to the university where there are very few women and I went to Microsoft and it was just very pleasant. It was great to be; it was a it was a division that was charged with creating software for of the home use and at that time you know it was all about PCs and all of that stuff, and so it was a long time ago. And this division was really led by women and my entire management chain and even their peers, a lot of them were women, and so I thought it was a great place to be. I didn’t choose the group because of that expressly, but I was definitely implicitly much more drawn to their attitude, their culture, and their mission. And I’m really glad because I think it would have been very tough for me to stay in this field had I not had a lot of those old models around me, early in my career. Chris: Yeah, that makes a lot of sense. I know there are a lot of articles and statistics attesting to the challenges faced by women in tech companies. Can you tell us some of the real challenges that you experienced, that you saw taking place during your time? Cynthia: Yes I think as somebody who is under represented, you know you always feel like you have to work three times harder than everybody else and show up three times more than everybody else. And so there’s always a constant pressure of having to prove yourself and I think that gets reinforced by everybody around you certainly, even culturally brought up not to raise my voice for example or push back on anything and that was a really hard thing for me to try to do in this environment where when you’re surrounded by a lot of men and even if the leaders were women. I think they definitely built a more inclusive culture, but in our day to day, a lot of the software developers around me were still men. And it was challenging sometimes to get your ideas heard or to feel like you felt you have a constant pressure of having to behave like them in order to be heard, and that really takes its toll and can sometimes be very frustrating. Chris: Yeah I’ve heard a lot of women who have gotten into the tech space, particularly on the software side end up leaving as a result of those types of pressures. They’re kind of the below the surface pressure that doesn’t really add up or at least it’s not immediately apparent. But then over years it ends up pushing people out of their work space. Cynthia: Yes, I think it takes a lot of; you know the advice that was given to me by one of my mentors as well, you have to figure out a way to integrate. And when to integrate is to be like the others around you, and I think I’ve seen quite a few of my peers and even some of my mentors who lose themselves a little bit because of that; which is really sad to see it really takes its toll on you over time. So the advice I was given to me was well, you better integrate and then when you get into a position of power, when you can influence things, then you can bring back some of yourself to really create an inclusive environment and that’s what I did. That is actually not the same advice that I would give to people today; I think you have to have a better balance than that, otherwise you’re just perpetuating the same culture. I mean I understand why I had to do it and why many of my mentors had to do that but it really is tough. You start to realise after a while that you really inevitably supported propagating the same behaviour that you are trying to fight. Chris: Yes, I’ve heard that; I’ve spoken to folks about that and that is a real difficult challenge spoken to both women as well as minorities about that. How do you find your place without losing yourself within this environment where you are the other and you’re trying to make a spot for yourself. Cynthia: Yeah Chris: Ada is doing some amazing work with great results. Tell us a little bit about Ada and about the selection criteria for the program. I know many students are making a massive career transition, so how do you ensure that you’re selecting students who can handle both the rigors of the training and also be prepared for success after the training is completed. Cynthia: Yeah, It’s about a year learning, it’s about an eleven months training program. It has six months in the classroom attached to a five month internship with a software company in Seattle and then basically our students graduate eleven months and the way, we get a lot of applicants which really tells me that there’s a ton of interest. In our last admission cycle, we had over four hundred seventy people applied actually from across the country. And it’s tuitions free, it focuses on women and non-binary people. It is a yearlong; it has an internship and it’s very mission based as a non-profit. All these things are really what draw a lot of our applicants to us. We look at a couple of things; we look at the technical potential that people have and the problem solving potential. Our online application also looks at the ability to problem solve, and if you make it to the second phase of our application, we actually give our applicants a set of videos to learn some programming basics and then ask them to write a simple program based on that. And then we also have the other side of our application process which really speaks to a person’s goals and motivation, why they want to become a software developer, their sense of self-awareness and ability to collaborate because a lot of what we teach is how you can teach yourself new skills and new technologies. These things change all the time and as a software engineering, the fact is that we really want to find people who are very self-aware, are able to push through when they make mistakes, not be themselves too much over the head about it and also work with other people. You know we build software, you know with people, it is a really hard selection process. I would say that every time I go through it, I select a group of very capable people, but I’m sure there’s another forty eight capable people when they’re at a four hundred and seventy applicants. It’s just that we don’t have space for everybody and so we actually have a large percentage of our student population apply again and there’s no shame in that. And so in any given quarter we have anywhere up to eight, ten, maybe sometimes even twelve people who applied more than once, twice, three times before they get in. And you know they’ve kept going in terms of their learning and their growth, and so since we have these application windows open twice a year and more frequently now than we did when we originally open, it’s not too long a time to wait to jump onto the next cycle. Chris: Right and you mentioned you get applications from across the country. What’s your typical mix between local Seattlites and folks from elsewhere? Cynthia: We typically have about a third of our cohort, up to a third of our cohort come from out of Seattle. They’re basically rooted to take the program. Most of them stay in Seattle actually, at least after they graduated maybe a year or two, but some of them do go elsewhere after they graduate. Chris: That’s amazing, so folks are literally picking up their lives and coming in saying get me on in the training, let’s see where it takes us. Cynthia: And speaks to their grit right in terms of how much they want this career change, and that’s really what we look for, we ask a lot of our questions is you know, how much are you willing to put into really make this career transition because it’s a hard one. It’s a really intense one, yeah. Chris: What are typically the beliefs or stereotypes about software engineering that have kept women out of this field traditionally? Cynthia: I think it has a reputation for being very homogeneous essentially. Whenever people think about software engineers, they think about very typical aggressive type A white male engineers who are all about doing the work, being loud and aggressive, thinking that the only way to have fun is their way of having fun and not really thinking about other people. And not that there’s a lot of bad intention behind that but I think when you propagate building a team of the same type of people, you basically build a culture and a way of doing things, even a way of socializing that is really optimized for that set of people. And so I think that does make other under-represented people, not just women but under-represented minorities overall feel really left out, feel like they’re their skills and what they bring to the table isn’t really being heard or valued. And so I definitely experience that. I feel like I’ve had to you know, there have been a lot of my male peers who are a lot louder, a lot more aggressive, who ask for jobs and will get them over me just because I don’t push harder. You know, I tend to not be as aggressive or self-promoting as other people, so I think it’s definitely one of those things where it’s not only the entry but the retention and the promotion of under-represented people that is a problem. Chris: Now I know you guys place your students into internships and into jobs particular with a lot of local companies. What are the changes that you’ve seen at local companies there that are enabling these opportunities now come about for women. Cynthia: I think that the tech industry in general has come a long way especially over the past couple of years, and recognizing that things really do need to change, I think there’s a lot more awareness now that people need to get things differently. In Seattle specifically, a lot of our sponsor companies do support Ada because they understand that you need to start looking at how you hire differently, you need to start looking at towered very differently. And so if you just rely on our pipeline of university students, you’re not going to really make that much of the dept, because in as much as some of the universities like Harvey Mudd for example are making huge progress in terms of the diversity, there is not enough graduates every year and there’s not enough progression every year. So I think people are realizing you have to hire different talent and the fact that you know our adult population, fifty percent of them are women like that something that you can barely find Palin over there right now. And I think that’s really what it is trying to prove is that there’s a full pool of talent over there right now, and investing in your, and developing that talent and getting it ready is really not a long time to wait to diversify. So I really heartened by that, I think the hardest transition actually for a lot of companies to make is OK well we can open the pipeline and we’re willing to consider this, how do we then turn our own culture so that those people will stay and those people feel like they can grow and those people feel like they can have a great career here. And in as much as a lot of people have very good intentions, I think it’s hard to translate that intention to breaking specific habits that have happened like in terms of how you do performance reviews or in terms of how you do promotions, in terms of how you pick people for leadership positions for example. Those are really hard things to change over time, but I’m hopeful that a lot of the tech companies we have in Seattle are talking about it as it’s a star, they are temporary aware of it and a couple of them actually have demonstrated that they’re making good progress there. Chris: That’s awesome. I want you to touch on entrepreneurship a bit. I was fortunate enough to be introduced to you by one of your Ada graduates, Yordanos – she’s a bit of a special case because she decided not to immediately take a corporate job and to try to build her own business. What impact do you see Ada having on female entrepreneurs in the future? Cynthia: I believe that a lot of our Ada graduates have so many skills outside of software development and I think if any entrepreneur will probably say that building a software is probably the easy part from being an entrepreneur or being an entrepreneur is really a lot about your vision, how you develop the idea, how you iterate on it, how you sell it, how you pitch it; what’s its vision, how you make money of it, all these things which I think from an Ada graduate’s perspective because they have so much life experience doing other things. That level of experience is actually already there and they are a lot more quick to adapt and really use a lot of these their skill sets in addition to be technically proficient enough to build whatever section they want. So I think it’s a great comb…

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    Episode 18: What Exactly is a Backdoor Listing? May 13, 2017
    Show notes

    Chris: Welcome to The Tech Lowdown show, where each episode will be discussing opportunities in the tech space with entrepreneurs from the US and around the world. I’m your host, Chris Jones. Any entrepreneur knows that raising funds to start and grow business can be extremely difficult. Despite all the stories we read about businesses raising millions of dollars from VCs, a recent study that I read found that to be in the top 50 per cent of start-ups who raise capital, the start-up will have to raise about 1.75 million Dollars. That’s definitely a fair bit of money, but in the grand scheme of building a business, trying to deliver a 10x return for investors, it’s really just a drop in the bucket. Today we’re going to hear from an entrepreneur who went a different route to raise capital for his venture – accessing the public markets in Australia, via a reverse takeover. Dave Whitaker is the co-founder and larger shareholder of Thred Limited, a publicly listed company on the Australian Stock Exchange, which is built on messaging app. It brings all your contacts together in a single place making it easier for you to share stories, photos and videos with the people important to you. Originally from Australia, Dave spent a decade in Hong Kong, starting and building tech businesses. Dave is an entrepreneur, several times over and brought me in to co-found Thred with him, almost two and a half years ago. Dave I’ve been looking forward to this conversation; welcome to the show, my man. What’s the lowdown? Dave: Thanks, Jonesy, great; glad to be talking to you about Thred at last. Chris: Awesome; so first, congratulations on the launch of Thred this week. It’s an exciting time for the company. Dave: Whoo, yes, tell me about it. I’m mean you were there along with us. It’s been an amazing journey. It’s taken us across a couple of different continents, three actually, and we’ve been you know, we’ve been really fortunate just to have some great people with us, and just to get such a great result. Chris: Great, so we’re going to dive into the details around how a back-door listing or a reverse takeover takes place. But first, I want the listeners to learn a bit about your background, what took you to Hong Kong and what brought you into the crazy world of entrepreneurship? Dave: No problems, so I mean I think every entrepreneur out there knows you know, right from the time to start grade school, but that’s probably what they are. It’s a way of looking at the world and so no matter what you do is a job or profession or when you go to college and so forth, you just always seem to be pushing yourself to try and do new things, and to start things from a business context. My background originally was trained as a systems analyst, so I understand tech and architecture and they’re not got into IT recruitment back in the late 90s, and that gave me a fantastic you know broad view of the IT industry. I just realized immediately, how much I didn’t know about IT. So it’s fantastic here you know, it’s just one of those things. Everybody thinks they know everything until late they have that Mike Tyson moment. So that was great, and that was a career that I stayed with for a long time and ultimately I was managing and starting recruiting businesses all around Australia and [unclear 03:44] region. And how I got to Hong Kong was that I was headhunted, believe it or not, headhunted by company to go out there and run their IT business in 2005. Chris: Awesome, really interesting. I want to get into the backdoor listing because this is one of those areas that frankly a lot of people just don’t know about or even understand. Most of us have heard the term, but let’s start off with the basics. At least for me, I didn’t know what it was. So what exactly is a reverse takeover? Dave: Right, so there’s several different levels and some of it little technical steps to keep with. I’ll start with the straight-up version. Basically when a company that is already listed on a stock exchange has decided to either change direction or they’re winding down, then they put the company into a particular situation that allows them to go and seek another project. And they go out and look for what they call a vendor. And that vendor is usually a private company that has a project that would suit to go into that listed vehicle. So once they identify the right project and the right people to come in, then a transaction takes place. And because the listed company is looking for a project, and the project is looking usually to raise capital, and it’s much easier in some instances to raise capital into a company that’s already on the stock exchange because it gives investors liquidity, which means that they have shares that they could trade in, it’s a bit easier to value. So you strike an arrangement between the company and the listed company and the exchange takes place where the project goes into the listed vehicle and they basically handover shares. That is usually the controlling interest of their company, and that’s the reverse part. So it’s called reverse takeover because even though the listed company is purchasing the project into themselves, they’re doing it by giving control to that company. Chris: That’s a great way, that’s an excellent explanation. What does control mean in a publicly held company? Dave: 51%. Chris: So by doing this backdoor listing, these tech companies come in or any company comes in; they take over a publicly listed shell and then they’re able to go out and raise capital at this new public entity. Dave: Yeah just like your earlier point. I mean it’s not always if you won 60 or 70 percent. Sometimes it’s less than that because you can have effective control of a listed company with less than 51%. But if you want to get things done, you need to automate decisions, you need to have 51% of the shares voting your way. But yeah, it’s a really interesting way to raise capital. It means that you can then go to the market, do road shows and increase you remember, you know we’ve done a lot of meet and greets going around Australia and up to Hong Kong and other places and you know just meeting some really interesting folks in the capital markets again. And telling them what we did. Chris: Great and what are the benefits for an entrepreneur of this particular process for raising capital and funding your business? Dave: Well first things first. Listing a company is not that easy; it depends on the stock exchange that you go to in the listing rules. For example to list a company on the Hong Kong exchange on the secondary board; not the main board; with the secondary board. You have to have all positive accounts showing 20 million Hong Kong Dollar profit over three years. And for start-ups, I mean most start-ups are in earning a near profit territory and if they are, it’s certainly not anywhere near there. So going into an already listed company, that company has already complied with the listing regulations and rules. And this also means that they have existing shareholders that meet the compliance regulations for whichever brought that on. So all of that is done. Also it means that when you’re going out and raising money in the capital markets, you’re able to show people that if they invest at a particular price then the shares can be traded and they have the opportunities, the same opportunities that share market offers to everybody. Chris: Wonderful. And then when you’re going through this process of a reverse takeover, who are the key parties that are involved in this process and what are the important things for an entrepreneur to be aware of if they’re going to go into this process? Dave: Get your own lawyer. Absolutely, start with your own lawyer and make sure that they’ve got experience doing this, particularly for the exchange that you’re going to list in. Secondly, go out there and talk to some different brokers you know. Don’t just speak to one person; don’t think that they are the only source of income, or only good road. You know, there’s a competitive market; there are a lot of people out there. Try and find the people that are a good fit for your business, who understand it, who see the potential and who are going to stick by you because it’s a longer road than you think. So no matter how long people tell you in the first instance, it’s going to take you three months; it’s going to take you six months; my friends, it will not. I assure you, it always takes longer. And you know, it’s bumpy. There’s a lot of compliance. There are a lot of things that you know first time, second time, third time entrepreneurs may not have ever come across before. So you know if you’re keen to learn then this is a great thing to do, because there’s a lot of learning. And get good advice; make sure you surrounded by good people and you know stick to your guns. If you got a good project and you believe in it, then don’t let people shake that belief because they’re trying to get you for a better price. You know stick the things that you believe in and you’ll see it through. Chris: Great, so I want to go a little bit inside baseball issue, a little bit deeper in the understanding the process. So I know you mentioned the brokers, you mentioned the lawyers; you mentioned actually filing some paperwork. What I know, you’ve got to deal with a prospectus. You’ve got to deal with audits; you’ve got to deal with the Securities Investment Commission of whatever market that you’re in. Can you just talk a little bit about how that all comes together? Dave: Yep, well, comes together, that’s great optimistic. It all arrives at the same time, hopefully. There’s, look, it’s a regulated market, so there’s very strict guidelines that you have to follow and you know those regulations are there for a very good reason. To understand how it works, you know really, there’s a lot of different moving parts, so you’ve got the existing company, you’ve got the board, the controls, the management of the company, we’ve got the shareholders that the board answer to; so that’s just in that listed vehicle. Then you’ve got your legal counsel, then you have your brokers and the brokers exist on many levels. They could be small firms, they can be large global firms and they are basically the people who make the investment decisions on behalf of their clients. So they’re a very important piece to this whole back to listing experience, because they have to go out and help you sell your story out to the market. So once you’ve got all of those pieces in place and you’ve got your team, so you like in managing all of this. You’ve got to pull together a prospectus that describes and fits the compliance rules for the listing, and that can take a lot of work because every single statement in a prospectus has to be checked and verified and fact checked. So you’ve got to have a team of lawyers and by the way make this sound super hard. You know if this gets done every day by companies out there doing it all the time. So you don’t let this scare you off. This is just you sort of making sure everybody knows what goes on right. Chris: This is what we want. Dave: This is yeah, so you’ve got to have every single statement in the prospectus and the perspectives typically for a listing could be a hundred and twenty pages, maybe more. You’ve got to have all of the audited financials done and there every quarter up until the listing time takes place. You have to have submitted notice of meeting for the shareholders so that the shareholders can come and vote on the transaction, and that’s got to get through. And then you submit it all to the Regulatory Commission wherever you are in Australia. It’s classic and it has to comply with the existing regulations, and it has to go to the ASX or the NSX which is the secondary board depending on which way you’re going, and it has to be approved there. So that’s the easy part, getting all right done. Chris: And tell us what the road show is like. You’re meeting with potential investors, who are these people? What’s it like presenting to those folks? Dave: Well you know that’s the fun part, depending whether or not you as an entrepreneur like getting up and speaking to people. If again like I said before, if you really believe in your product and you came and got that enthusiasm; as long as you can temper that with sufficient business understanding of how your idea is going to turn into a real business, then you know you get the opportunity to stand in front of the room for the people and tell them how you’re going to change the world, or how you’re going to disrupt a particular area. So road shows are usually held in boardrooms, although I’ve done road shows and you have to’ in coffee shops, restaurants around lunches, it can it can really vary. I’ve seen road shows done in pubs that were quite effective. At the end of the day, it’s a gathering of people who are influential and able to make investment decisions either on behalf of themselves on behalf of their clients. And so you get up and you have to have a depth that describes the business and describes what your Road-show is, and what your vision is and you’ve got to be able to communicate that. And I really suggest that your entrepreneurs out there, if you don’t have co-founders, get them, because doing road shows by yourself, I mean I could not imagine doing what we did as a one-man band. It was gruelling enough. Chris: It was brutal absolutely, so then after the lifting takes place, funds are raised. What are the requirements as a public company that is different from those as a private start-up, that an entrepreneur should be aware of? Dave: Have you ever seen one of those shows you know where they have somebody who I know either for a bit or for you know to raise money for charity. They put them in a glass box and make them live in that glass box; you know 20 feet off the ground for a week. Yes, that’s public company life because every single thing has to be disclosed the minute that it becomes known to you. So that’s called continuous disclosure. You have to make announcements constantly. There are on-going regulatory reporting requirements and again as I said those regulations are there. A very good reason to protect shareholders and to make sure that everybody behaves themselves. And so it’s quite different from being you know say a typical bootstrap entrepreneur who then picks up private equity or obviously in funding, because it’s almost impossible to maintain some works style development. You know we need to be telling people what we’re doing, why we’re doing it, what the money’s been spent on and all the rest of it. Now there are carve out rules that give you exceptions, particularly if there are things that are patentable or that are considered to be trade secrets. So it’s not that bad, but yes I mean it’s just basically you’re always public facing, you’re always talking to shareholders and you’re constantly speaking to the brokerage community so that they can explain, so that they can do an analysis actually of your company and help to value your stock. Because your product is no longer your product; is also your stock. Chris: That’s a great description. So first of, that was phenomenon, explaining the whole backdoor listing and RTO process. So I want to move now to the real lowdown segment of show when normally here we get into the nitty-gritty behind ins and outs and some of the more interesting details. But what I want to do is, I want to give you a chance to talk about Thred. I want to hear your thoughts on Thred. So if you can start by just telling the audience; tell us about the product, tell us about the original vision and what you like about the newly released version of Thred. Dave: Absolutely well, I mean how long would we go? Because you know this is, has been such a fantastic journey, from some start to where we are now. You know, the original concepts like a lot of innovative…

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    Episode 17: Timing When to Jump into A New Industry – An Entrepreneur’s Dilemma Apr 18, 2017
    Show notes Welcome to the Tech Lowdown Show where each episode we’ll be discussing opportunities in the tech space with entrepreneurs from the US & around the world. I’m your host Chris Jones – What happens when you’re on the cutting edge of a new industry? How do you decide when to jump into your own venture in a still immature space? I remember the early days of mobile marketing and how year after year I heard “this was the year of mobile” yet dollars flowing into mobile marketing were scarce. Depending on your perspective the entrepreneurs building businesses at this time were either too far ahead of the curve or developing the knowledge to be successful once the dollars started flowing. Today we’re going to speak with an entrepreneur who found himself in just that situation. Rory Mudie is the Founder and CEO of Redbox Mobile, a leading Appstore Optimization Company with offices in London and New York. Rory has been on the cutting edge of digital marketing for over a decade now. He’s held executive roles with the BBC and Vodafone among others before starting Redbox Mobile in 2013. Rory, welcome to the show – What’s the Lowdown? – Rory, I want to start by learning a bit more about your background – tell us your story and then what led you to start Redbox Mobile? – Like you I worked for a carrier previously – what were you seeing taking place during that time that piqued your interest in the still nascent app space? – Can you take us through your thought process regarding the opportunity and your risk assessment at the time that you made the decision to give it a go? – When you started Redbox you weren’t focused just on ASO – talk me through how you were trying to build a product in the early days. How did you figure out what was most viable for you to build a business on? – I believe that you bootstrapped the business correct? Walk me through the turning point for the business – what was going on and what gave you the confidence to pursue ASO and now Search Ads as your primary products? – Okay, let’s get into ASO now. Briefly tell us exactly what ASO is and why it’s important for app marketers? – Do we know how big ASO is right now as an industry? Where is the ASO space in regard to it’s maturity as an industry? The Real Lowdown Segment – What was your lowest point when you were building Redbox Mobile? – What are the challenges that the business still faces today? – So it appears that you timed it right. Did you and was it by luck or design? – Finally, what advice would you give to someone trying to figure out when to jump into a immature industry? – Finally, what personal sacrifices have you had to make for the business and has it been worth it? Rory- this has been so much fun. Please tell our listeners how they can find out more about you and Redbox Mobile? If you liked the show, please download all the episodes and leave us a 5 star rating on iTunes! You can find show notes at techlowdownshow.com and follow me on Twitter at cjones2002.

    Episode 16: Beating Google at its Own Game: Search for the 21st Century Apr 10, 2017
    Show notes

    Chris: Welcome to The Tech Lowdown show where each episode will be discussing opportunities in the tech space with entrepreneurs from the US and around the world. I’m your host Chris Jones. I remember arriving at business school many years ago. And meeting people whose brains were just wired to handle and process lots of complex information. While I consider myself to be intelligent these people had what I like to call mental horsepower. Today’s guest falls into that same category in my mind. Hamish Ogilvy is founder of Sajari. Sajari is a real-time cloud based search and recommendation engine. It’s designed to work with very large queries like documents people profiles stuff like that. I can promise you that you’ve never seen a faster search product in your life. Frankly it’s amazing and I want to understand how Sajari is turning how search, something we all use every day, on his proverbial head. Hamish received a PhD in physics and lasers and still found time to captain the basketball team at Macquarie University in Sydney. A new father to a beautiful baby girl – Hamish welcome to the show, what’s that lowdown? Hamish: Chris what’s up man it’s been a while man I hope you’re well. Chris: I’m doing well man thank you it’s great to have you on the show. I’m going to jump right in you’re a rare combination of an athlete, geek. High level rugby and basketball player and you’ve got three patents to your name. Tell us a bit about your background and we’re just interested I technology and data came from. Hamish: Yeah it’s interesting I said I think I was always interested in technology growing up. And always interested in sports as well so I kind of ran down both those paths. And ended up in University doing physics wanted to go and learn a lot about lasers which were interesting at the time. I think I don’t think many people realize but the whole internet is powered with lasers. You know all the over communication fiber running around the world. So laser pretty critical to the world that we have today. I was pretty interested in that and then that just led on to data and other worlds. And to where I am today. Chris: interesting so before we jump into Sajari. You once told me a great story about your first little side project which is still ongoing. Go petition tell us about that business how it got started what you guys were doing. Hamish: yeah that was really interesting I was at university in the time and living in a shared house. Didn’t have a lot of money and we had a one of our house mates that live with. Actually he spends a lot of money gambling and it was hard to get the rent of him. And we were sitting there sitting there one day and thinking you know we shouldn’t have slot machines in Basel. I think it’s a bad idea we should petition about it and then nobody had really done that in the online space. At least in Australia but it was starting to happen in overseas. But we thought we could do it better, so a couple of us got together and decided to start that. And many, many years on it’s grown over I think there’s over 20 million registered members now. So it got pretty big and been involved in some massive pieces of change around the world. I think from my perspective though that was just a great experience to learn how to build an online business from zero up to millions of views yeah. Chris: Yeah you guys really grabbed a tiger by the tail on that one. Most people when they think of search immediately think Google. And maybe secondary how they think about Bing or maybe the old Yahoo search. I was lucky enough to see an early version of Sajari in action a few years ago and we were looking at searching within the US Patent archives and frankly I was blown away. Tell us about Sajari and how you identify search as an opportunity. Hamish: Yes I think the interesting thing that we see is that the world’s drowning in information I think as you know I think there’s 40 or 50 times more information every couple of years. Than what there was previously and there’s some of those crazy stats that you know in 2003. There was more data created than all of the other years combined. So the way that information is growing is you know absolutely crazy but then from a human perspective. How we actually interact with that information has to get become easier. Because we’re being forced to digest more and more information. And so search is one of those critical information bridges between humans and data. and so we kind of saw that as more than just keywords so search is really thought of like Google. [0:05:05.1] And being we’re going in typing some keywords and you go and find information. And what we wanted to actually get to was to think about if you had a lot more information and you had more idea about what you want. Could you run a search that was more would give you results as if you had read every single document in the collection? And so that was the initial goal for what we’re doing which is one of the reasons we tested it on the Paton archives. Because it’s a big highly complex data set of information. but we see that opportunity everywhere to be honest I mean anywhere there’s information that humans trying to read it. And make sense of it, then we see ourselves in that space. Chris: Alright that makes a lot of sense. So I know you guys have built search from the ground up. You didn’t start with hey this is what Google is doing this is what Yahoo’s doing or anyone else. So yes in layman’s terms tell us how Sajari built its search engines fundamentally different from how it’s been done in the past. And what the benefits are for web and app owners as well as end users. Hamish: yeah so I think when you think back to web the origins of most search that’s available today. And I mean forget Google they’ve got a lot of smart people inside and some of the other big companies as well turn their own thing. But the technology that’s available for website owners or for apps to use is actually a lot more simplistic in terms of the way that it stores data. And that comes about because most of that technology was actually first developed back in the late 90s. And in the late 90s it cost you a lot more for a CPU. Cost you a lot more for disk and memory. And so they made trade-offs which made a lot of sense at the time to store information in very static fixed ways. Which made it reasonably quick to query. But the downside of that in today’s world is that information is moving a lot faster. And so one of the things that we wanted to do is to be able to adapt to that in real time much more like a database would. rather than writing up you know these big long indexes that never change. So that’s kind of the first difference and then the second difference was that we wanted to make it very flexible. In terms of what machine learning can be used to drive the ranking as well. So we’ve spent a lot of time and on machine learning for different verticals to actually become a lot smarter in the way that the search works. And the idea is that it will be able to teach itself to become smarter over time. So that’s our other core goal. Chris: Got it and the benefits for say end users. Hamish: yeah sort of the benefits of the end users is that they get something that actually works is high performance. But it improves itself over time. And not only does it improve itself over time but it will tell you in different ways that it’s improved. And that’s been really interesting particularly for some of the website owners using for site search. Because they don’t realize that they have issues with content. And then suddenly you know that they’ll have content drop in their search rankings we tell them these are the things that have dropped. Here are the areas that have gone up. And then from that they can tell that they have content issues with the way they’re talking to their customers. So we’re seeing that there’s a lot of benefits in terms of performance which people want. And they don’t want to spend a lot of time on it so the other aspect there is that most companies that do really well with search. They actually have several full-time engineers actually working on the problem. And that’s fine for companies who can afford several expensive people but most companies can’t so that’s kind of where we come in. Chris: Got it so you’re a bit more turnkey for these companies and they don’t have to worry about having engineers on-site. And dealing with some of the intricacies of optimizing search performance. Hamish: That’s right yep it’s normally a very manual process for most. Chris: so what are some of the competing technologies and is your advantage by building from the ground up it is significant enough for you to scale that business over time? What’s the key to scaling this business? Hamish: Yeah so we’ve seen really interesting things over the past few years. Has been some great products like elastic search has done really well just putting a nice API around we’ve seen. Which is the technologies from back in the 90s. It’s gone incredibly quickly, so they’ve shown how if you can create a really simple API that the developers are happy to use then. You have a real advantage in the market we’ve seen the same thing with Algalia has grown like a Light speed. [0:09:58.6] But they’re more focused on the structured data web more leading towards the unstructured data sets. But we’ve seen in this market that one of the most important things is speed. Which we have and another important thing is the simplicity to the end-user. And I think that in the past a lot of the products have been sitting in that too complex space. And that force companies to have engineers to mind them. And so what we’re trying to do is to simplify that complexity but give you high performance. And we think that’s a huge, huge, huge opportunity to stay on yeah. Chris: Yeah that actually makes a lot of sense tell me about the machine learning aspect. You mentioned that and what I’m wondering is are you building your own machine learning algorithms. And is that how you’re doing that or are you leveraging some existing technologies out there to use that for the machine learning piece. Hamish: Yes we do both actually so we have our own internal stuff and we also use various libraries and other things externally other techniques. The aim of will be getting to those to be very pluggable. So what we actually want to have is in the background to be able to plug in different pieces of machine learning. And we already have processing pipelines that will go back over the historical data look at performance. And then see that if we had have used some different learning in the past with that have positively impacted the performance. And if it would then we know that that’s technology that we want to add for the future. So we’re really data heavy business and really constantly looking at performance opportunities. And so the machine learning is a big part of that. Eventually we don’t use or what we use some newer networks to a big degree. But we’re trying to set things up in a way that will be very easy to plug in. Newer networks are some of the other new algorithms that are coming up down the track so that’s the goal. Chris: Do you see a place for Sajari in the voice app space? Hamish: You know that’s actually really interesting we have one project now where we’re search is being used for in a chat sense. So which is more like the voice conversational style usage. and it’s been phenomenally interesting for us because the queries are totally different. If you go to a search box you know and you want to you want to buy a bookcase you just say bookcase. If you go into a conversational or a voice search interface you’ll say I want to buy a bookcase. And so the amount of information in the context that you have from a voice based interface is far greater than what you would get from a search bar. And that’s really suited to what we do more information in the query is Better. So yeah it’s definitely something that we’re looking at we do have active experiments in that in the space. Chris: That one is personally intriguing to me I’m a big fan of what Amazon is doing with Alexa. What Microsoft is doing and Google is doing with their, what Google is doing with their home product. And I’m seeing lots of voice-based opportunities particularly out of here where lots of IOT devices are connecting to voice based platforms. And so that added context that you guys it’s important for you guys search engine seems to be a really natural fit. And that could be particularly if you think about things like cars automobile based applications voice based applications. Can see some real interesting synergies there. Hamish: Yea I guys totally agree. Chris: So what’s the opportunity in the future for search and how are these changes with machine learning and AI and predictive analytics impacting what the future searches going to look like for us? Hamish: yeah well I think some people will talk about the future plugging search into your brain. And you think of a query and get an answer, so I guess it depends it depends out for them it down the track you want to go. But I think we’re seeing that convergence of you know the information is going to get closer and closer and closer to what you want as a desire. Whether you think it or how you communicate it whether it’s voice and voice is a really interesting one. Because voice is one step back from having to type something into a keyboard. So again it’s getting closer and closer to that just think about something and you are able to get it. And so I think we’re going to see an advancement where search is just going to get increasingly more intelligent. And it’s going to get increasingly closer and easier for humans to use. So you get to a point where you almost be getting results before you actually want them if you know what I mean. [0:15:06.] Chris: so very much predictive. Hamish: Very much predictive it yeah. Chris: and in terms of your core architecture are you guys the only ones that are going down the particular architectural path that you have laid out? or there others who are going down a similar are you part of a movement or you guys out on your own? Hamish: I think from the machine learning perspectives definitely there’s others that are going down the same path. I think there’s advantages and disadvantages to you know the other approaches. And we’ve taken a very specific path so we know will be very pluggable and very real time. Which we think is important for where the future is going. Which is different to everybody else and we think about a lot of advantages in terms of laying in this machine learning and predictive analytics. Chris: for a company like Sajari for technology that you built. what’s a exit candidate look like if you wanted to sell this two years from now next week, five years from now. What are the types of companies that would be attracted to this type of technology? Hamish: That’s a good question I mean with we’ve had people companies that have big problems that we can solve very, very well. And I think that they would love to have us in as know-how at the moment we have no intention or no desires to sell. We actually really we think this could be a massive business and our goals to actually build that up. But how the use cases are way too many so the plenty of people who would be interested I’m sure. Chris: Absolutely wonderful so I want to jump into what I like to call the real lowdown segment of the show. And here the aim is to try and get beneath the surface a bit the stuff down don’t find on the glossy brochures. And find out how things are really going with the business. You guys are built and unquestionably amazing technology, but what if it challenges that the business faces today. Hamish: Yeah so I think when we started out we didn’t we didn’t fully comprehend how complicated it would be to rebuild a search engine from sc…

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    Episode 15: How Big Data + Social Media Are Changing Our Relationships with Celebrities Mar 27, 2017
    Show notes

    Chris : Welcome to the tech lowdown show. Where each episode we talk with thought leaders and a tech space and entrepreneurs from the U.S and around the world. I’m your host Chris Jones. Recently one of the listeners to the show asked me about the future of social media. So I told him hey I’ll bring in a guest who can speak knowledgably on that exact topic quick shout out to Junior for the suggestion. Social media feels like it’s been with us forever. But it’s a still very young industry and what and how it’s being used is still in a state of transformation. Our guest today is Mark Shedlesky, founder and CEO of Vertical Mass based in Las Angeles. Vertical Mass hub celebrity entertainers in the like collect and safely store data on their fans across social media, websites, mobile apps, e-commerce and content streaming services. They raised over 8 million dollars from Blue chip VCs and even got the San Francisco 49ers to kick. A long time entrepreneur and entertainment executive Mark is a hustler in the best sense of the word. It’s a pleasure to have him on the show Shed welcome to the show my man. What’s the lowdown? Mark: Jones, man thank you for having me excited to chat with you today. Chris: Yea much appreciated it, much appreciated. So I want to dive right in, when I look at what you’re doing with Vertical Mass. It feels to me very much like the combination of all the work that you’ve prior to finding Vertical Mass. Can you tell us a bit about your background and how you came to founding Vertical Mass? Mark: Yea I think that is spot on so I don’t know the first not to age myself. But the first 10 years in my career were really spent in traditional media companies. Companies like Universal Pictures and MTV obviously business school were you and I first met. And then really got into the tech scene about 10 years ago and went into a marketing company called Bit torrent which was the largest peer to peer software tool. Where our users were downloading massive files from the internet. Some of them illegally sadly but we were building a consumer facing business on top of that. And then beyond Bit Torrent I then went and started a company called Blue Haze. Which was a mobile apps business and we were a software serviced platform and we licensed our technology to pretty much all of the record labels and number of TV networks and sports team’s musicians and other celebrities. Who used our platform to build mobile apps ultimately to help them have a direct relationship with their fans. And that was what I think pretty early in the app store I think our first app was app number 72 in the store pretty early. So that was early day’s man. And then you know it was like after we sold that business about 6 years ago and moved from barrier down at Las Angeles and we sold it to a company called 19 Entertainment XIX. XIX Entertainment was the new version of it and that was run by a guy Simon Fuller who created American Idol and a number of other TV shows. We had about 30 talents that we worked with. So athletes and musicians and fashion designers and celebrities who we managed and helped manage their career and my job as the head of digital at the company. Was to really help understand how we could one know about who are fans are. 2 make sure we had ways of aggregating that data and communicating with them and then 3 how we could actually put relevant content. Or offerings in front of those fans. Especially as artist who are touring our athletes who are working on collaborations and just making sure that we had a direct relationship with those audiences. So that was in terms of [Inaudible 0:03:51.1] Chris: Yea I know that makes a lot of sense you’ve been playing in and around this social media and entertainment space for a long time now. From a business perspective or from the entertainer celebrity’s perspective how have these areas evolve over the last decade? Mark: You know I think it’s interesting right. So if you think about never mind sort of the evolution of MySpace where it was all about how many plays you got and that was your currency with record labels. Right that was sort of the original how to use some social facing numbers and currency against the number of friends you had plus the number of plays you had on your music. That was sort of a third party validation of who you were right and how popular you were. How relevant you were to certain audiences it kind of moved beyond that to Facebook and Twitter and the each took on a bit of a different. A bit of a different spin for celebrity or a content creator right. The first was Facebook you started to see some massive audiences and that grows the number of fans like your page. Was that same metric right was the same way as saying I’m the tenth most popular athlete in the world. [0:05:02.0] Or I’m the third most popular musician in the world is measured by social foot print. And that was important for a long time. I think Twitter became a very personalized messaging tool Facebook became little bit more of a broadcast tool. And I can talk about those in a sec in terms of how I think about them. And they had the evolution of Instagram and Snapchat. Which again were a little more about that public facing number how many people follow me on Instagram on Snapchat it’s very different. And each of those platforms Twitter Facebook, Instagram, Snapchat and I’ll add YouTube obviously is a third maybe not a social platform. But certainly is a communication platform. Those 5 platforms today sort sit as the five most relevant ways to reach an audience. Each of them is treated in their own unique way by the different talent. And not to say that they all have a very specific the way they post on Facebook or Instagram or on Snap etc. but on a general level. They each sort of view those as a specific way to reach their audience and to engage with their audience. So I think that’s really been the evolution of the number one being how do measure how many fans we have. And that is a public facing number and important validation of who they are in their industry. And 2 thinking more specifically how I do actually engage properly with my audience and my fans on these platforms and that’s I think really worth the market is today. Chris: That’s interesting so take a bit deeper into Vertical Mass. What is it exactly that you do for your clients why do they see the value in it how you deliver it? Mark: Yea so I mean our company is really simple it’s a data platform. And we’re specific to the entertainment and sports verticals. Which means we only partner with celebrities or musicians or athletes or sports teams and record labels etc. just giving our focus on those verticals. And we help our partners collect and aggregate the data on their fans and so they can actually see those fans across platforms. They can understand whose engaging on the social and visiting their websites and downloading the mobile app. signing up for an email list. buying tickets to a show or to an event. Buying merchandise from the store and historically you had sorts of analytics tools that were available for each of those platforms independently. But not one that really aggregated that data together so that if a fan visited your website and a week later bought a ticket to an event. And 3 weeks later bought a t-shirt from your store. You necessarily know that before. And you know I sort of flip it around and say as a fan I mean I grab from Cansus so I’m hockey. I’m a big music fan; I’m a fan of a number of things. That’s one of the ways that I define myself and as a person. And it upsets me that the artist that I really like or the teams that I follow. Don’t necessarily have consistent way of communicating with; don’t necessarily know who I am. And I want to know when there’s a sale on at the store I want know when there’s tickets available to a show near me. I want to know all those things and so my perspective on it is there’s a very unique way that artist and athletes and companies treat their fans. And they treat them as their most important asset. And we set up in the middle as a data platform to help them do that. Chris: Got it so at its core you’re providing some sort of maybe SDK or plugins that works across platforms to gather this information up. And then provide that data back to the celebrities, is that how you working or. Mark: That’s it so they partner with us they sign up to use our platform. It’s our software across these websites or mobile apps it’s our ability to you know pull data through APIs and social media. Or through email services and all that data gets, sits in our eco system it’s structured and stored. So that we can build a unified to show you who that fan base is. That’s exactly right. Chris: That makes a lot of sense so I know you got to work closely with a number of celebrities when you were in your previous business that you mentioned. Purchased by Simon Fuller so when you were at XIX Entertainment and prior to, what about that experienced has helped you as you thought about creating. And running Vertical Mass. Mark: Yea So I think you’ve got a whole lot of talent who greatly appreciate the fact that they’ve got a direct communication tool with their fans. But there’s some risk with that and there’s a lot of work with that and so there’s a real nuance in understanding how to be effectively communicating across those platform. What I mean by that is you know often times on Facebook you’ll see sometimes first party posting meaning in a first person voice. So you might have a musician go on Facebook and talk in first person. But you also have the record label post on that page by the way new single available for pure order today right. [0:10:00.1] And the artist doesn’t necessarily want to be seen selling to their fans. And so the record label will have access and we’ll post to that page as well. And so Facebook you got a bit of a broader audience and it’s a bit more of a promotional platform these days. Twitter for many years, was the original voice of that celebrity or artist or musician right and still is to an extent. And that nobody had access to that account other than the celebrity and what we saw in their was their authentic and there was a very real time environment in which they had to be paying attention. And for some that’s a lot of work, right you’re in the studio and you’re recording you’re on the cords playing it’s a lot a work. And you got to be very careful about making sure that you understand everything that is happening in the world around you. Not just on that social platform and that your voice is sort of speaking appropriately to your audience and not just your fans but to the broader audience on that social platform. You then move into like the media space where you go Instagram for images and videos. And you’ve got Snapchat which is really just like let’s be real right. Again both of the same core attributes of it’s the artist or the celebrity often times themselves being in their first person voice talking to their audience and their fans and so you’ve got a nice little set of tools. That you can use to communicate and if you’re a consumer of you know celebrity content on social media or music content or etc. you know you probably get a different experience. Across all these different way that people communicate on them. And that I think takes a lot of understating not just by the talent themselves. But often times by their assistant or their social media person who’s with them and helping them do these things. And then in general by you know the broader industry because everybody who is related to that music artist. Wants them to use their Facebook to post about that new initiative you’ve got a new album, you’ve have a new tour. You have a new merchandise you’re the face of this brand you are launching your own products and you got to be careful. And everyone realizes you know both sides you got to be careful to not oversaturate your content with promotional or business goals. And there’s a fine line between having a conversation and being organic and real with your audience and at the same time saying, hey listen if I’ve got 50 million 100 million fans engaging with me. They would probably like to know that the fact that I’ve now the tour that’s going on. Or how I feel about tonight’s game and so there’s a bit of a grey area in terms of how much the promotion of products and services is really you know organic to that talent and how much of it is about them sort of leveraging that audience reach that they have. To help grow their revenue stream. Chris: Interesting and walk us through I know you just completed a raise late last year operating in this particular arena. What was it about what you guys were doing that VCs found to be yes this is something I want to back? Mark: Yea I think you know first and for most I think VCs will look at 2 things right. They’ll look at it team and then they’ll look at a market opportunity right. So is there a market that is big enough and if that’s interesting great then let’s go next on the checklist. And is this the right team to get there. And you know we’ve got a phenomenal team that we put together. And I think that can be really interesting big market opportunity. So I think those are 1 in 2. And then beyond that it’s how do you approach the business is the great traction does your product work. And does it well received by the people who sue it. Are you generating revenue what are the economics of the revenue that you generate how much margin do you make? What is your growth look like you know quarter over quarter, month over month? And so then that sort of leveled intricacies what you know investors will look at and you’ve got different investors with different appetites. For us it was really simple right. If there are a lot of data businesses out there that have built really interesting data companies but mostly in other verticals in travel. And auto and CPG and retail where they aggregate data or they help their partners aggregate data in those spaces. And we were really the first movers in the entertainment and sports category. And so our investors like the fact that we had some great traction we work with. About 85 of the top 100 music artist in the world. We work with a lot of the major companies. We now work with you know closer dozen sports teams and so I think that traction was something they looked at to say. Okay there’s a real need for this product here. The company is doing well financially and that’s sort of the first set of steps. And then ultimately you know they do a lot of homework. [0:15:01.2] They don’t even realize the amount of diligence that goes into it it’s not. You know you see every day to this company raise 3 million by 5 millio,n 20 million, 15 million, 200 million dollars. So it’s a lot of work that goes into finding the right partners for an investment standpoint and you know the amount of homework that those partners do. To make sure they’re putting the money in the right place. And that there’s a responsible team whose going to spend it in the right way. Chris: So hear you there so can you walk us through really specifically. Very early days how you got traction like what exactly did you do to get that early traction? Mark: So I think the first thing that we did was we had a thesis we had a Hypothesis right. And the Hypothesis was it’s really important to understand and aggregate data on your fans. And yet it’s really hard to do that. And so we tested that hypothesis by calling my equivalent at different artist management companies. And just asking them those 2 simple questions right. The first question is how important is it for you to be able to have this aggregated data and this unified view who your fans are. And unanimously the response was yea that’s super important to us we need to know who are fans are. It’s really a top priority for us. And the second question was…

    Full show notes at the publisher

    Episode 14: The Lowdown on Artificial Intelligence with Johan Ahlund Mar 20, 2017
    Show notes I’m so excited today to return back to one of my favorite topics and one that, IMO, anyone working in tech should have at least a passing familiarity with that. Artificial intelligence has been this far off thing in the mind of the general public since the days of the first Terminator movie but we’ve now reached a point where AI and the supporting technologies like NLP and NLI are beginning to impact our lives everyday whether we’re aware of it or not. – Today’s guest Johan Ahlund has been a pioneer in this space. Currently he’s the CEO & Founder of Jabberbrain a Barcelona-based company that helps clients build high quality Natural Language Interactions applications. An entrepreneur multiple times over he helped create the market for NLI when it was in its infancy as CEO & Founder of Artificial Solutions back in 2001. – Johan, welcome to the show – What’s the Lowdown? – You’ve got an amazing background in this space, can you start by briefly telling us about your background and where you’re interest in this space originated? – I know a lot of people have difficulty understanding the different technologies for which make up what we commonly refer to in shorthand as “AI”. Can you briefly define a few of these concepts and then tell us how they fit together? – You’re an expert in NLI, how should engineers, product managers, or marketers be thinking about using NLI and can you give us some tangible examples of NLI in action today? – You got into this area with a business super early so I imagine commercialization at that time was challenging. Can you tell us what were the key developments either within your companies or in the larger ecosystem that have had the greatest impact on getting to where we are today? – There are people like yourself who have been instrumental in the development of this technology. Where do you see the greatest opportunities right now for the application of these technologies?? The Real Lowdown Segment – What are the misconceptions around these technologies that fall under the rubric of “AI”? – We’ve got AI being offered as a platform, Voice being offered as a platform, etc. Who’s doing it well and what are the shortcomings that I as an entrepreneur dabbling in this space should be aware of? – Finally, I want to ask you about Jabberbrain which I believe is about a year old – Tell us about your product and where the company is in its development?

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