October 26, 2022 | 73 min
The theme for this TigerTalks on the Road event is "Venturing in the Austin Tech Scene" and featured the following alumni panelists:
- Michael Carvin '04, Co-Founder and CEO of SmartAsset
- Lauren DeMeuse '06, Executive in Residence at 8VC
- Scott Britton '10, Chief Technology Evangelist at Salesforce and Co-Founder of Troops (acquired by Salesforce in July 2022)
- Lesley Robinson S*12, Founding Director of Kendra Scott Women's Entrepreneurial Leadership Institute at The University of Texas at Austin
- Moderating the panel will be Marcus Stroud '16, Co-Founder and General Partner of TXV Partners
This event is part of an entrepreneurial series, called TigerTalks, organized by PEC and local alumni associations across the country on various topics spanning tech, life sciences, social impact and arts entrepreneurship; and featuring alumni and faculty working in these fields.
Sponsored by Princeton Club of Austin (PCA) and Princeton Entrepreneurship Council (PEC).
Transcript
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1
00:00:02,990 --> 00:00:05,339
Alright, so great to see2
00:00:05,339 --> 00:00:07,049
a fantastic turnout here.3
00:00:07,049 --> 00:00:08,654
I'm Marissa
Goldenberg, president4
00:00:08,654 --> 00:00:10,215
of the Princeton
cup of Austin.5
00:00:10,215 --> 00:00:12,390
And we're really
excited to be doing6
00:00:12,390 --> 00:00:15,134
our first entrepreneurship
related activity.7
00:00:15,134 --> 00:00:16,620
Huge thanks to
the Prints and8
00:00:16,620 --> 00:00:17,985
Entrepreneurship Council,9
00:00:17,985 --> 00:00:19,109
Don and his colleague10
00:00:19,109 --> 00:00:20,699
Dianne back at
campus have helped11
00:00:20,699 --> 00:00:22,590
us orchestrate
this whole event.12
00:00:22,590 --> 00:00:23,684
They sponsored it.13
00:00:23,684 --> 00:00:25,770
So really appreciate
everything they've done.14
00:00:25,770 --> 00:00:26,910
And we hope that this is15
00:00:26,910 --> 00:00:27,930
going to
kick-start lots of16
00:00:27,930 --> 00:00:30,749
activities for the
club here in Austin.17
00:00:30,749 --> 00:00:31,980
And I'll let
Joel speak about18
00:00:31,980 --> 00:00:34,299
some of that
information as well.19
00:00:38,230 --> 00:00:41,060
Hi guys. My name is20
00:00:41,060 --> 00:00:42,439
Joel Rao and I'm21
00:00:42,439 --> 00:00:44,644
a recent transplant
to Austin.22
00:00:44,644 --> 00:00:47,360
And I came from
the Bay Area23
00:00:47,360 --> 00:00:49,459
where we started what24
00:00:49,459 --> 00:00:51,365
was called the
entrepreneurship series.25
00:00:51,365 --> 00:00:53,750
And it was a really
great way to26
00:00:53,750 --> 00:00:56,960
engage with tigers
around ideas,27
00:00:56,960 --> 00:00:59,360
which I found
really engaging and28
00:00:59,360 --> 00:01:01,669
met a lot of people have29
00:01:01,669 --> 00:01:03,619
really expanded my
Princeton networks30
00:01:03,619 --> 00:01:04,880
such that I now consider31
00:01:04,880 --> 00:01:06,470
most of my Princeton
friends to be32
00:01:06,470 --> 00:01:09,094
those that I didn't
even know on campus.33
00:01:09,094 --> 00:01:11,749
And so when I
first moved here,34
00:01:11,749 --> 00:01:12,410
I reached out to35
00:01:12,410 --> 00:01:14,090
Marissa and asked
if I could get36
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involved and help organize37
00:01:15,710 --> 00:01:17,225
similar events here.38
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The things of dawn and
the folks on campus,39
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this is our first events.40
00:01:20,750 --> 00:01:24,320
So happy to have you
here spread the word.41
00:01:24,320 --> 00:01:25,940
We will be doing
more events42
00:01:25,940 --> 00:01:27,875
if you have ideas for43
00:01:27,875 --> 00:01:30,049
hosting events or topics44
00:01:30,049 --> 00:01:32,720
that you want to
discuss, let us know.45
00:01:32,720 --> 00:01:35,465
The other thing I
will mention is46
00:01:35,465 --> 00:01:37,415
Princeton Alumni angels is47
00:01:37,415 --> 00:01:40,565
a actually international
network now,48
00:01:40,565 --> 00:01:44,179
mostly tiger
funders who get49
00:01:44,179 --> 00:01:45,800
together to help back for50
00:01:45,800 --> 00:01:48,559
the most part, tiger
started companies.51
00:01:48,559 --> 00:01:50,419
There's gonna be
some pitch events.52
00:01:50,419 --> 00:01:52,430
There's information
out at the front desk,53
00:01:52,430 --> 00:01:54,514
but we were thinking
it might be fun to do54
00:01:54,514 --> 00:01:56,330
a watch party and
discuss some of55
00:01:56,330 --> 00:01:58,444
the ideas that are
being presented.56
00:01:58,444 --> 00:02:02,164
So don't hesitate
to contact57
00:02:02,164 --> 00:02:04,340
either Marissa or
I if you want to58
00:02:04,340 --> 00:02:06,874
get involved in
any capacity.59
00:02:06,874 --> 00:02:08,855
Thanks for coming
tonight and60
00:02:08,855 --> 00:02:11,549
I will turn it
over to Don.61
00:02:11,860 --> 00:02:15,485
Well, thank you.
Marissa. Thank you.62
00:02:15,485 --> 00:02:18,275
My name is Don
sites, class of 79.63
00:02:18,275 --> 00:02:20,075
And several years
ago, I had to,64
00:02:20,075 --> 00:02:21,140
I got a phone call65
00:02:21,140 --> 00:02:22,340
from the
President's office66
00:02:22,340 --> 00:02:23,840
saying we're
started something67
00:02:23,840 --> 00:02:24,110
called68
00:02:24,110 --> 00:02:26,074
The Prince and
Entrepreneurship Council.69
00:02:26,074 --> 00:02:27,770
And we really want to70
00:02:27,770 --> 00:02:30,259
tap into the secret
sauce of Princeton,71
00:02:30,259 --> 00:02:32,165
which is the alumni body,72
00:02:32,165 --> 00:02:34,159
as is the case
for everything.73
00:02:34,159 --> 00:02:36,830
And so this is74
00:02:36,830 --> 00:02:38,420
the mission for
many of you75
00:02:38,420 --> 00:02:40,534
who do not know
what PCS about,76
00:02:40,534 --> 00:02:44,929
we really try to engage
the entire ecosystem.77
00:02:44,929 --> 00:02:46,670
I've got a couple of
more slides to talk78
00:02:46,670 --> 00:02:48,290
about that ecosystem and79
00:02:48,290 --> 00:02:50,749
the programming
and activities80
00:02:50,749 --> 00:02:52,879
and initiatives to
engage that ecosystem.81
00:02:52,879 --> 00:02:55,249
But almost in all cases,82
00:02:55,249 --> 00:02:56,930
there was an
alumni element.83
00:02:56,930 --> 00:03:00,694
So those of you who
are alumni, wonderful.84
00:03:00,694 --> 00:03:02,479
Those of you
who are friends85
00:03:02,479 --> 00:03:05,974
and perhaps
family of alumni,86
00:03:05,974 --> 00:03:07,880
you're welcome and happy87
00:03:07,880 --> 00:03:09,784
to see such a
great audience.88
00:03:09,784 --> 00:03:11,605
I may need to
get back there89
00:03:11,605 --> 00:03:14,239
to flip the slide.90
00:03:14,239 --> 00:03:21,019
Great. So purposely
sort of confusing slide91
00:03:21,019 --> 00:03:23,225
because there's
a lot going on.92
00:03:23,225 --> 00:03:26,600
But I see a lot of
the engineers in93
00:03:26,600 --> 00:03:27,830
the crowd and folks94
00:03:27,830 --> 00:03:29,825
who couldn't
decipher this.95
00:03:29,825 --> 00:03:31,970
What's really
fascinating is96
00:03:31,970 --> 00:03:33,499
that six years ago,97
00:03:33,499 --> 00:03:35,540
there was almost,
there was98
00:03:35,540 --> 00:03:37,280
very little
entrepreneurial99
00:03:37,280 --> 00:03:38,824
activity on campus.100
00:03:38,824 --> 00:03:40,790
There was no spin outs101
00:03:40,790 --> 00:03:42,725
from faculty, almost none.102
00:03:42,725 --> 00:03:45,259
There were very
few opportunities103
00:03:45,259 --> 00:03:46,460
for undergrads or104
00:03:46,460 --> 00:03:47,840
grads to105
00:03:47,840 --> 00:03:50,179
pursue any entrepreneurial
initiatives,106
00:03:50,179 --> 00:03:51,724
certainly to take
any courses.107
00:03:51,724 --> 00:03:53,030
And all of that has108
00:03:53,030 --> 00:03:56,675
completely flipped
itself on its head.109
00:03:56,675 --> 00:03:59,690
And hence, what we
focus on a PEC at110
00:03:59,690 --> 00:04:01,099
a bunch of other
organizations111
00:04:01,099 --> 00:04:02,674
on campus, Keller Center.112
00:04:02,674 --> 00:04:05,510
Many of you may know
either because of113
00:04:05,510 --> 00:04:09,364
more recent alumni years114
00:04:09,364 --> 00:04:11,869
or maybe you've come
back to campus.115
00:04:11,869 --> 00:04:14,720
The bigger center,
the high metals116
00:04:14,720 --> 00:04:16,009
environmental institute117
00:04:16,009 --> 00:04:17,855
to the Lewis Center
for the Arts.118
00:04:17,855 --> 00:04:19,099
All of us now work119
00:04:19,099 --> 00:04:21,170
very collaboratively
to try120
00:04:21,170 --> 00:04:24,770
to leverage the left
side of this slide,121
00:04:24,770 --> 00:04:26,315
this slide, which is122
00:04:26,315 --> 00:04:29,599
all the
constituents today.123
00:04:29,599 --> 00:04:34,339
As an example, probably
ten to 15 spin124
00:04:34,339 --> 00:04:36,350
outs a year from faculty125
00:04:36,350 --> 00:04:39,545
taking their research
commercialized in it.126
00:04:39,545 --> 00:04:41,629
The Office of Technology
Licensing now is127
00:04:41,629 --> 00:04:43,955
a very active
organization,128
00:04:43,955 --> 00:04:46,069
PEC to support faculty.129
00:04:46,069 --> 00:04:49,340
And it's because
for two reasons.130
00:04:49,340 --> 00:04:51,650
One is the research
is phenomenally131
00:04:51,650 --> 00:04:53,089
powerful and has132
00:04:53,089 --> 00:04:55,069
tremendous potential
for impact.133
00:04:55,069 --> 00:04:57,740
And Princeton
and ice Gruber,134
00:04:57,740 --> 00:04:58,669
President nice group are135
00:04:58,669 --> 00:05:00,169
basically said We have to,136
00:05:00,169 --> 00:05:01,939
we have to support
these initiatives.137
00:05:01,939 --> 00:05:02,660
And quite frankly,138
00:05:02,660 --> 00:05:04,085
the faculty wanted
to do that.139
00:05:04,085 --> 00:05:06,079
And we were
losing faculty to140
00:05:06,079 --> 00:05:08,270
Stanford and Harvard
and MIT just141
00:05:08,270 --> 00:05:09,905
for the lack of142
00:05:09,905 --> 00:05:12,890
support for innovation
and entrepreneurship.143
00:05:12,890 --> 00:05:15,290
But as you look down
the left-hand side,144
00:05:15,290 --> 00:05:16,880
we care about all145
00:05:16,880 --> 00:05:18,815
the constituents,
including me.146
00:05:18,815 --> 00:05:20,869
Grads, as many
of you know now,147
00:05:20,869 --> 00:05:23,059
there's a minor in
entrepreneurship,148
00:05:23,059 --> 00:05:25,430
their courses in
venture capital.149
00:05:25,430 --> 00:05:29,329
These two guys
sitting to my left,150
00:05:29,329 --> 00:05:31,609
helped teach some
of those courses.151
00:05:31,609 --> 00:05:34,279
It's just amazing
what is now152
00:05:34,279 --> 00:05:35,150
available if you're153
00:05:35,150 --> 00:05:37,129
an undergrad or
graduate students.154
00:05:37,129 --> 00:05:38,720
And all those
things apply to155
00:05:38,720 --> 00:05:40,219
the Graduate
community as well.156
00:05:40,219 --> 00:05:41,570
We worked very closely.157
00:05:41,570 --> 00:05:44,419
We are PEC with
the Grad College.158
00:05:44,419 --> 00:05:46,369
There is now a position159
00:05:46,369 --> 00:05:48,785
called the Vice Dean
for innovation.160
00:05:48,785 --> 00:05:51,140
In fact, the current
president of the,161
00:05:51,140 --> 00:05:53,180
or the dean of the
Grad College is162
00:05:53,180 --> 00:05:54,919
the Inaugural Vice Dean of163
00:05:54,919 --> 00:05:56,179
innovation and a gentleman164
00:05:56,179 --> 00:05:57,575
by the name of
rod priestly.165
00:05:57,575 --> 00:05:59,270
He's now been replaced by166
00:05:59,270 --> 00:06:02,090
a gentleman named
craig Arnold.167
00:06:02,090 --> 00:06:04,415
Both faculty members,168
00:06:04,415 --> 00:06:07,189
startup entrepreneurs
themselves.169
00:06:07,189 --> 00:06:12,230
And so I hope you
get the impression.170
00:06:12,230 --> 00:06:13,550
Understand it.
There's a lot171
00:06:13,550 --> 00:06:16,010
of momentum on campus.172
00:06:16,010 --> 00:06:17,959
Things on the
right, I just173
00:06:17,959 --> 00:06:19,520
highlighted all
the ways you174
00:06:19,520 --> 00:06:22,790
can and we can involve
ourselves as alumni.175
00:06:22,790 --> 00:06:25,804
We do events like this
around the world.176
00:06:25,804 --> 00:06:27,440
We have, I mean, quite177
00:06:27,440 --> 00:06:29,059
frankly are pretty
small budget,178
00:06:29,059 --> 00:06:30,320
but Princeton is funding179
00:06:30,320 --> 00:06:32,600
these things because
of their interests,180
00:06:32,600 --> 00:06:33,980
diversity to
engage alumni,181
00:06:33,980 --> 00:06:35,780
whether your founders or182
00:06:35,780 --> 00:06:38,719
funders or just, you
know, entrepreneurial,183
00:06:38,719 --> 00:06:41,630
The curious, all
kinds of ways to get184
00:06:41,630 --> 00:06:43,159
involved in the
programming that185
00:06:43,159 --> 00:06:45,439
PEC and others deliver.186
00:06:45,439 --> 00:06:47,359
There's a really
cool mentoring and187
00:06:47,359 --> 00:06:49,715
advisory platform
called office hours.188
00:06:49,715 --> 00:06:51,724
If you have any
interest in this.189
00:06:51,724 --> 00:06:53,840
Now that you have
registered for this event,190
00:06:53,840 --> 00:06:54,859
unless you opted out and191
00:06:54,859 --> 00:06:56,750
start getting
newsletters from us.192
00:06:56,750 --> 00:06:58,834
I hope you stay in touch193
00:06:58,834 --> 00:07:00,170
and raise your hand194
00:07:00,170 --> 00:07:01,460
and say I want
to get involved,195
00:07:01,460 --> 00:07:04,039
give me a call at my job.196
00:07:04,039 --> 00:07:05,680
And I I, you know,197
00:07:05,680 --> 00:07:06,770
it's it's one of198
00:07:06,770 --> 00:07:09,470
the most fun jobs one
could add, right,199
00:07:09,470 --> 00:07:13,430
For the Love of this
startup space and200
00:07:13,430 --> 00:07:15,440
deeply involved in
that space myself for201
00:07:15,440 --> 00:07:17,960
30 years as well for this,202
00:07:17,960 --> 00:07:21,120
you know, of course
the loyalty.203
00:07:21,700 --> 00:07:27,424
So with that, just
a couple of things.204
00:07:27,424 --> 00:07:29,045
I'll, I'll send out205
00:07:29,045 --> 00:07:31,105
the slides just to
give you a sense.206
00:07:31,105 --> 00:07:32,450
Lots of stuff going on in207
00:07:32,450 --> 00:07:33,740
the next couple of months208
00:07:33,740 --> 00:07:34,955
before the end
of the year.209
00:07:34,955 --> 00:07:36,589
Some of these
activities are virtual,210
00:07:36,589 --> 00:07:37,984
some of them are physical.211
00:07:37,984 --> 00:07:40,100
And then when you
get into the spring,212
00:07:40,100 --> 00:07:42,484
all kinds of stuff
across the country.213
00:07:42,484 --> 00:07:44,029
And also back in campus,214
00:07:44,029 --> 00:07:45,860
we do a reunions
conference every year.215
00:07:45,860 --> 00:07:47,089
So those of you
who might be216
00:07:47,089 --> 00:07:48,439
coming back for one of217
00:07:48,439 --> 00:07:49,910
your majors or just218
00:07:49,910 --> 00:07:51,455
because you're gonna
be in Princeton.219
00:07:51,455 --> 00:07:53,390
Great conference
on the Friday220
00:07:53,390 --> 00:07:54,980
of that weekend,221
00:07:54,980 --> 00:07:58,264
each and every year and
so on and so forth.222
00:07:58,264 --> 00:08:00,050
So with that, I'm going to223
00:08:00,050 --> 00:08:04,024
ask our esteemed
panelists.224
00:08:04,024 --> 00:08:06,830
Market strategy is
going to moderate this.225
00:08:06,830 --> 00:08:07,940
And folks that you take226
00:08:07,940 --> 00:08:09,050
your seats there
are there are227
00:08:09,050 --> 00:08:11,210
little microphones
on your chairs228
00:08:11,210 --> 00:08:12,544
and she's just
flip them on.229
00:08:12,544 --> 00:08:14,810
Even the little ones
are Mike so someone can230
00:08:14,810 --> 00:08:19,379
take my sweet thanks.231
00:08:29,620 --> 00:08:33,000
Sorry, I'm getting
all situated.232
00:08:42,700 --> 00:08:44,930
Just licensed, for
instance, people who233
00:08:44,930 --> 00:08:46,835
brings more two
sticks together.234
00:08:46,835 --> 00:08:48,445
Well, it's good to
see all you all.235
00:08:48,445 --> 00:08:49,805
Howdy, My name is
Marcus drought.236
00:08:49,805 --> 00:08:51,485
I'll be the
moderator today.237
00:08:51,485 --> 00:08:54,860
I am a member of the
Proud Class of 2016.238
00:08:54,860 --> 00:08:56,180
For those of you
who aren't alumni,239
00:08:56,180 --> 00:08:59,419
we begin every year
with the term proud.240
00:08:59,419 --> 00:09:01,564
And so play football241
00:09:01,564 --> 00:09:03,049
was fired up about
our big victory242
00:09:03,049 --> 00:09:04,459
this past Friday night
against Harvard.243
00:09:04,459 --> 00:09:05,270
And for those of244
00:09:05,270 --> 00:09:06,080
you don't keep
with the program,245
00:09:06,080 --> 00:09:08,509
we are undefeated in on246
00:09:08,509 --> 00:09:09,679
path for another I really247
00:09:09,679 --> 00:09:11,599
championships, that's
been really good.248
00:09:11,599 --> 00:09:14,314
And we have some
incredible panelists here.249
00:09:14,314 --> 00:09:16,310
And what the magician,250
00:09:16,310 --> 00:09:17,119
so really quickly just251
00:09:17,119 --> 00:09:19,049
say the name and whatnot.252
00:09:19,840 --> 00:09:23,495
Hi, my name is Laura
and abuse and I'm with253
00:09:23,495 --> 00:09:25,385
ABC as an investor254
00:09:25,385 --> 00:09:28,654
and operation
operating partner.255
00:09:28,654 --> 00:09:31,289
You guys hear me okay.256
00:09:46,000 --> 00:09:51,605
This work or on Skype
written in class 2010,257
00:09:51,605 --> 00:09:52,894
founder of a
company called258
00:09:52,894 --> 00:09:55,235
trips that is now
part of Salesforce.259
00:09:55,235 --> 00:09:57,560
Awesome. I guess we'll
jump right into it.260
00:09:57,560 --> 00:09:59,164
Michael, I began with you,261
00:09:59,164 --> 00:10:00,740
Michael talking about
your experience at262
00:10:00,740 --> 00:10:02,464
Princeton and then
we'll talk about like,263
00:10:02,464 --> 00:10:03,770
how it may have played264
00:10:03,770 --> 00:10:06,419
a role in you
getting a career.265
00:10:07,180 --> 00:10:11,160
I loved every second266
00:10:12,340 --> 00:10:15,110
when it came time
to graduate,267
00:10:15,110 --> 00:10:16,880
graduate correctly
and on time.268
00:10:16,880 --> 00:10:19,469
Not such a great
thing to do.269
00:10:20,080 --> 00:10:23,554
From that place. I
was an econ major.270
00:10:23,554 --> 00:10:24,739
I played a lot of rugby.271
00:10:24,739 --> 00:10:28,834
I was in Cottage.
Incredible memories.272
00:10:28,834 --> 00:10:32,210
You have the
entrepreneurship programs273
00:10:32,210 --> 00:10:33,559
hadn't really started up274
00:10:33,559 --> 00:10:35,990
while I was in275
00:10:35,990 --> 00:10:36,949
college there it sounds276
00:10:36,949 --> 00:10:39,809
like an amazing works out.277
00:10:40,090 --> 00:10:44,660
19 years later.278
00:10:44,660 --> 00:10:48,095
Awesome. Can you talk
about smart asset,279
00:10:48,095 --> 00:10:50,794
what led you to billing
the company in?280
00:10:50,794 --> 00:10:52,079
Yeah.281
00:10:52,720 --> 00:10:55,189
Quick background
on smart asset is282
00:10:55,189 --> 00:10:56,749
it's the largest platform283
00:10:56,749 --> 00:10:58,550
connecting consumers
to financial advisor284
00:10:58,550 --> 00:10:59,839
was on the web.285
00:10:59,839 --> 00:11:02,030
So the best way
to think about286
00:11:02,030 --> 00:11:05,479
as big audience of287
00:11:05,479 --> 00:11:07,279
people with real
estate listings.288
00:11:07,279 --> 00:11:08,960
And it helps real289
00:11:08,960 --> 00:11:10,789
estate agents
find their next.290
00:11:10,789 --> 00:11:13,309
My next client. We are
really big audience of291
00:11:13,309 --> 00:11:14,450
people who are
universal claims292
00:11:14,450 --> 00:11:16,730
content tools,
calculators.293
00:11:16,730 --> 00:11:18,484
This month we'll probably294
00:11:18,484 --> 00:11:19,940
6,070 million uniques.295
00:11:19,940 --> 00:11:21,980
And you guys are296
00:11:21,980 --> 00:11:22,819
business model was to297
00:11:22,819 --> 00:11:24,289
connect those consumers.298
00:11:24,289 --> 00:11:28,700
Financial advice to
grow their business.299
00:11:28,700 --> 00:11:31,084
The very quick
family stories,300
00:11:31,084 --> 00:11:34,529
to find anything major.301
00:11:35,890 --> 00:11:40,549
Wall Street and the302
00:11:40,549 --> 00:11:42,125
difference was actually
quite liked it.303
00:11:42,125 --> 00:11:43,730
I worked I worked in304
00:11:43,730 --> 00:11:46,520
private equity for
about seven years.305
00:11:46,520 --> 00:11:49,340
And I went to my
home and it was306
00:11:49,340 --> 00:11:50,929
a process but trying307
00:11:50,929 --> 00:11:51,619
to figure out
what's going to308
00:11:51,619 --> 00:11:53,014
happen to my taxes.309
00:11:53,014 --> 00:11:55,025
Mortgage made the
most sense for me.310
00:11:55,025 --> 00:11:57,380
What this is after311
00:11:57,380 --> 00:11:58,704
the financial crisis,
to find a hole,312
00:11:58,704 --> 00:12:00,739
make any sense,
and then trying to313
00:12:00,739 --> 00:12:02,900
go online and get answers
to those questions.314
00:12:02,900 --> 00:12:04,640
And I was just really315
00:12:04,640 --> 00:12:07,190
surprised at how
bad it was about316
00:12:07,190 --> 00:12:09,020
a content wasn't a
little good health317
00:12:09,020 --> 00:12:12,170
or for consumers
into the ATM for318
00:12:12,170 --> 00:12:16,610
building for better
financial transparency319
00:12:16,610 --> 00:12:21,379
to everybody in finance,320
00:12:21,379 --> 00:12:22,500
that's321
00:12:30,490 --> 00:12:32,495
awesome.322
00:12:32,495 --> 00:12:34,519
I'm asking each
person this question,323
00:12:34,519 --> 00:12:37,129
but the prince
and the ecosystem324
00:12:37,129 --> 00:12:38,270
and other entrepreneurs
because there325
00:12:38,270 --> 00:12:40,130
was more than like
built at the time326
00:12:40,130 --> 00:12:42,304
that did Princeton's
ecosystem play a role?327
00:12:42,304 --> 00:12:44,689
Did you think to
reach out to alumni328
00:12:44,689 --> 00:12:48,320
for advice for
potential colleagues,329
00:12:48,320 --> 00:12:50,180
for potential capital
like did Prince and330
00:12:50,180 --> 00:12:50,945
go through your
head at all331
00:12:50,945 --> 00:12:52,309
when you were
building the company?332
00:12:52,309 --> 00:12:59,194
Power alone?
You have a car.333
00:12:59,194 --> 00:13:04,640
I have ever seen around
either friends or334
00:13:04,640 --> 00:13:06,200
acquaintances or
friends of friends or335
00:13:06,200 --> 00:13:10,069
another network.336
00:13:10,069 --> 00:13:18,980
Every network itself has337
00:13:18,980 --> 00:13:20,870
been really,
really valuable.338
00:13:20,870 --> 00:13:22,280
I wish339
00:13:22,280 --> 00:13:23,644
you really interested
in going through.340
00:13:23,644 --> 00:13:25,295
Now. He's now a
lot of other,341
00:13:25,295 --> 00:13:28,070
other resources in
addition to the network.342
00:13:28,070 --> 00:13:31,220
Right? So I guess343
00:13:31,220 --> 00:13:32,659
again to this
awesome questions,344
00:13:32,659 --> 00:13:34,759
so you guys raise
over 106 million345
00:13:34,759 --> 00:13:35,840
in capital,346
00:13:35,840 --> 00:13:38,630
youth, touch 75
million people in.347
00:13:38,630 --> 00:13:39,529
It seems like you've built348
00:13:39,529 --> 00:13:40,790
a company in
New York City.349
00:13:40,790 --> 00:13:42,200
You believe you
would have had350
00:13:42,200 --> 00:13:43,640
that type of
reachability and351
00:13:43,640 --> 00:13:45,020
that skill had
you bolted in352
00:13:45,020 --> 00:13:46,760
Austin and what
brought you to Austin,353
00:13:46,760 --> 00:13:49,220
especially when you
were just the 2021,354
00:13:49,220 --> 00:13:52,470
you bought Oscar the
year in New York City?355
00:13:55,930 --> 00:13:59,849
I believe so. You
know, it's funny.356
00:14:04,300 --> 00:14:13,920
You asked me crazy.357
00:14:14,440 --> 00:14:16,819
It's such a different
world today and today358
00:14:16,819 --> 00:14:19,710
I know, no doubt.359
00:14:23,020 --> 00:14:27,755
I happen to believe
that I just got here.360
00:14:27,755 --> 00:14:31,579
But the community here361
00:14:31,579 --> 00:14:34,565
around technology and
entrepreneurship,362
00:14:34,565 --> 00:14:38,134
they happen to
be impossible.363
00:14:38,134 --> 00:14:45,334
Impossible to do. Do
you think pre-COVID,364
00:14:45,334 --> 00:14:47,719
the hub is to have365
00:14:47,719 --> 00:14:51,720
a good community
around you.366
00:15:03,820 --> 00:15:06,290
Okay. I'll come
back because I've367
00:15:06,290 --> 00:15:08,419
a couple more
questions about that.368
00:15:08,419 --> 00:15:10,924
Answered the
Scala job to you.369
00:15:10,924 --> 00:15:11,479
Scott,370
00:15:11,479 --> 00:15:13,475
talking about your
experience post prints.371
00:15:13,475 --> 00:15:15,199
I know a lot about
your personal stories.372
00:15:15,199 --> 00:15:16,280
So I know principally373
00:15:16,280 --> 00:15:17,555
pretty important to live.374
00:15:17,555 --> 00:15:19,340
I've actually pretty
good prints and alumni375
00:15:19,340 --> 00:15:22,340
story to how I attack.376
00:15:22,340 --> 00:15:24,739
My first job was I377
00:15:24,739 --> 00:15:25,970
thought I wanted to
be Jerry Maguire.378
00:15:25,970 --> 00:15:27,290
I was I was working at379
00:15:27,290 --> 00:15:29,450
the second-largest
sports agency380
00:15:29,450 --> 00:15:31,309
represented pro
baseball players.381
00:15:31,309 --> 00:15:33,229
It turns out it's really382
00:15:33,229 --> 00:15:35,060
not that fond of
a job at all,383
00:15:35,060 --> 00:15:36,845
but add that job.384
00:15:36,845 --> 00:15:39,420
I would read the New
York Times every day.385
00:15:39,700 --> 00:15:43,834
Typically the business
and tech section.386
00:15:43,834 --> 00:15:46,249
And I think it was
actually Tim Ferriss book,387
00:15:46,249 --> 00:15:47,240
who's a Princeton Alumni388
00:15:47,240 --> 00:15:48,079
that made me being like,389
00:15:48,079 --> 00:15:50,315
Wow, like entrepreneurship
sounds awesome.390
00:15:50,315 --> 00:15:54,470
I saw this article of
this 2009 classmate,391
00:15:54,470 --> 00:15:56,660
Josh Weinstein had raised.392
00:15:56,660 --> 00:15:58,399
Million bucks
from Peter Teal393
00:15:58,399 --> 00:16:01,234
to start the new Facebook.394
00:16:01,234 --> 00:16:02,929
And I had had
a precept with395
00:16:02,929 --> 00:16:07,970
Josh my freshman
year, Paul to ten.396
00:16:07,970 --> 00:16:10,519
And presets as a
class outside of397
00:16:10,519 --> 00:16:12,169
a class just for those
who didn't get up.398
00:16:12,169 --> 00:16:12,979
I don't know.399
00:16:12,979 --> 00:16:15,769
I don't even know if
Josh knew who I was,400
00:16:15,769 --> 00:16:17,030
but I got his
phone number and I401
00:16:17,030 --> 00:16:18,920
cold call them
and was like,402
00:16:18,920 --> 00:16:22,895
Hey Josh, I don't know
if you remember me.403
00:16:22,895 --> 00:16:24,289
I was in your politics and404
00:16:24,289 --> 00:16:26,540
precept I just saw
your company like,405
00:16:26,540 --> 00:16:28,179
I don't know if
you need help.406
00:16:28,179 --> 00:16:29,615
Like I want to
get involved.407
00:16:29,615 --> 00:16:30,994
And so I was just like408
00:16:30,994 --> 00:16:32,240
desperate to just break409
00:16:32,240 --> 00:16:35,570
into startups and
entrepreneurship.410
00:16:35,570 --> 00:16:36,860
And he took a chance on411
00:16:36,860 --> 00:16:39,110
me to New York
and I was kinda412
00:16:39,110 --> 00:16:41,239
my break into tech413
00:16:41,239 --> 00:16:43,940
and this was 2010
at the time,414
00:16:43,940 --> 00:16:47,029
nobody was working in
tech startups were not415
00:16:47,029 --> 00:16:50,104
cool and all my
friends were like,416
00:16:50,104 --> 00:16:52,529
What the ****
are you doing?417
00:16:52,960 --> 00:16:55,985
Yes, that was like
my cool kind of418
00:16:55,985 --> 00:16:59,300
Princeton story for the419
00:16:59,300 --> 00:17:00,440
religious like
launch me and420
00:17:00,440 --> 00:17:01,775
my trajectory
of my career.421
00:17:01,775 --> 00:17:04,580
Got you. You got some
success post that.422
00:17:04,580 --> 00:17:06,259
And then you eventually423
00:17:06,259 --> 00:17:07,699
founded a company
called truce AI.424
00:17:07,699 --> 00:17:08,960
So tell us but
will lead you to425
00:17:08,960 --> 00:17:11,179
founding tubes.
The story of that.426
00:17:11,179 --> 00:17:12,230
And like I said,427
00:17:12,230 --> 00:17:13,460
he just had a recent428
00:17:13,460 --> 00:17:15,125
acquisition from
Salesforce.429
00:17:15,125 --> 00:17:16,969
And so congrats on that.430
00:17:16,969 --> 00:17:19,560
But yeah, it's all
it's how you build.431
00:17:20,170 --> 00:17:23,419
Yeah. I think the
honest answer is432
00:17:23,419 --> 00:17:26,134
that I just wanted
to start a company.433
00:17:26,134 --> 00:17:27,500
Like I just
wanted to prove434
00:17:27,500 --> 00:17:28,940
to myself that
I could do it,435
00:17:28,940 --> 00:17:30,350
which I think is
the case for a lot436
00:17:30,350 --> 00:17:31,670
of entrepreneurs
and founders.437
00:17:31,670 --> 00:17:35,809
And so when you're
in that position,438
00:17:35,809 --> 00:17:36,499
you're like, what
are what are439
00:17:36,499 --> 00:17:37,759
the problems that I know?440
00:17:37,759 --> 00:17:39,500
And I don't know who441
00:17:39,500 --> 00:17:41,210
here has used Salesforce.442
00:17:41,210 --> 00:17:42,679
I know I work
there now and I'm443
00:17:42,679 --> 00:17:44,315
not supposed to
call it baby ugly,444
00:17:44,315 --> 00:17:47,314
but that thing is
freaking hard to use.445
00:17:47,314 --> 00:17:49,280
And it was a huge
problem that the company446
00:17:49,280 --> 00:17:51,259
that I was working at,447
00:17:51,259 --> 00:17:53,419
my co-founder had
actually sold448
00:17:53,419 --> 00:17:55,054
his last business to449
00:17:55,054 --> 00:17:56,839
Buddy Media, which
Salesforce bought.450
00:17:56,839 --> 00:17:58,280
And both of us kind of451
00:17:58,280 --> 00:17:59,854
talked about big problems.452
00:17:59,854 --> 00:18:00,980
We just feel like, well,453
00:18:00,980 --> 00:18:02,734
Salesforce really socks.454
00:18:02,734 --> 00:18:06,650
And he had started this
other beauty business455
00:18:06,650 --> 00:18:10,160
of how these
people going out456
00:18:10,160 --> 00:18:11,255
to stores and457
00:18:11,255 --> 00:18:14,075
mobile enterprise
is really hot.458
00:18:14,075 --> 00:18:16,429
And we're doing all this
customer discovery.459
00:18:16,429 --> 00:18:18,500
We're talking to people
and asking like,460
00:18:18,500 --> 00:18:19,369
how, how do you know where461
00:18:19,369 --> 00:18:20,914
your salespeople
are doing all day?462
00:18:20,914 --> 00:18:22,129
And the answer that463
00:18:22,129 --> 00:18:24,020
he kept getting
is like, yeah,464
00:18:24,020 --> 00:18:25,610
we'd be honestly
just tax them and465
00:18:25,610 --> 00:18:27,620
then once every couple
of weeks they like,466
00:18:27,620 --> 00:18:29,569
log into a database
and fill things out.467
00:18:29,569 --> 00:18:30,770
I'm like, Well,
that's crazy.468
00:18:30,770 --> 00:18:32,600
Like what if what if469
00:18:32,600 --> 00:18:34,400
updating a CRM was470
00:18:34,400 --> 00:18:36,529
as easy as sending
a text message?471
00:18:36,529 --> 00:18:37,880
Would people do it?472
00:18:37,880 --> 00:18:38,720
What if you could have473
00:18:38,720 --> 00:18:42,004
a natural language
type instrumentation474
00:18:42,004 --> 00:18:43,835
that could map
to a database.475
00:18:43,835 --> 00:18:46,710
So that was the big idea.476
00:18:47,230 --> 00:18:50,765
The year we launched
the business,477
00:18:50,765 --> 00:18:53,960
Slack emerged and we had478
00:18:53,960 --> 00:18:55,384
all these people
that we were479
00:18:55,384 --> 00:18:57,664
doing these hacky
solutions with,480
00:18:57,664 --> 00:19:00,199
where I was logging
into people's CRMs481
00:19:00,199 --> 00:19:03,680
illegally and dumping
in data manually.482
00:19:03,680 --> 00:19:04,790
And they're like,
Hey, could you just483
00:19:04,790 --> 00:19:06,110
do this in slack?484
00:19:06,110 --> 00:19:06,860
And that was like485
00:19:06,860 --> 00:19:08,150
the second pivotal
moment for us.486
00:19:08,150 --> 00:19:09,455
We're like, wait a second.487
00:19:09,455 --> 00:19:11,959
Future of Work is not488
00:19:11,959 --> 00:19:14,464
1 million bifurcated
mobile apps.489
00:19:14,464 --> 00:19:16,010
It's allowing
people to use490
00:19:16,010 --> 00:19:17,120
their applications from491
00:19:17,120 --> 00:19:18,364
where they're
already working.492
00:19:18,364 --> 00:19:19,219
And we were one of493
00:19:19,219 --> 00:19:21,800
the first Slack
fund companies.494
00:19:21,800 --> 00:19:25,560
Basically built on top
of their platform.495
00:19:25,840 --> 00:19:28,550
Yeah, in 2016,496
00:19:28,550 --> 00:19:30,799
we were out there in
the market talking497
00:19:30,799 --> 00:19:34,939
about messaging
and slack being498
00:19:34,939 --> 00:19:37,700
the engagement layer for499
00:19:37,700 --> 00:19:40,309
customer data and
applications.500
00:19:40,309 --> 00:19:45,259
And we built that product501
00:19:45,259 --> 00:19:46,790
and built that category502
00:19:46,790 --> 00:19:48,139
and evangelize that idea.503
00:19:48,139 --> 00:19:49,654
And then in 2000,504
00:19:49,654 --> 00:19:51,334
at the end of 2020,505
00:19:51,334 --> 00:19:55,354
Salesforce bought Slack
with that thesis.506
00:19:55,354 --> 00:19:57,680
That they wanted
to reinvent507
00:19:57,680 --> 00:19:59,869
the way that customers
use their products.508
00:19:59,869 --> 00:20:01,595
And we had really been509
00:20:01,595 --> 00:20:03,170
the market leader
in that space.510
00:20:03,170 --> 00:20:06,530
And so eventually
they decided to,511
00:20:06,530 --> 00:20:08,630
to bring us in house
where we're now focused512
00:20:08,630 --> 00:20:10,939
on making that vision513
00:20:10,939 --> 00:20:13,489
a reality with our
product and also514
00:20:13,489 --> 00:20:14,510
rolling our product out515
00:20:14,510 --> 00:20:16,534
to their 25,000 sellers.516
00:20:16,534 --> 00:20:18,980
Congratulations again.517
00:20:18,980 --> 00:20:21,035
I guess the next
question I asked you is,518
00:20:21,035 --> 00:20:21,740
how do you believe519
00:20:21,740 --> 00:20:23,270
the Princeton
student experience520
00:20:23,270 --> 00:20:24,470
could benefit from521
00:20:24,470 --> 00:20:26,210
exposure to
entrepreneurship?522
00:20:26,210 --> 00:20:28,415
It played a pivotal
role. Yeah.523
00:20:28,415 --> 00:20:31,109
I mean, I honestly,524
00:20:31,270 --> 00:20:34,759
I just wish that I had525
00:20:34,759 --> 00:20:36,109
these options
and excitement526
00:20:36,109 --> 00:20:37,805
around campus
when I was there.527
00:20:37,805 --> 00:20:38,929
I wish there was.528
00:20:38,929 --> 00:20:39,954
The only thing I529
00:20:39,954 --> 00:20:41,419
remember is that
the founder of530
00:20:41,419 --> 00:20:42,769
Under Armour came
to campus and531
00:20:42,769 --> 00:20:44,420
talked about starting
the company.532
00:20:44,420 --> 00:20:46,069
And I remember
just being so533
00:20:46,069 --> 00:20:47,764
inspired by that guy.534
00:20:47,764 --> 00:20:48,829
He was a football guy.535
00:20:48,829 --> 00:20:50,030
I played football as well.536
00:20:50,030 --> 00:20:51,050
He told a story of537
00:20:51,050 --> 00:20:53,524
a heated changes
t-shirt before games.538
00:20:53,524 --> 00:20:57,004
I was like, man, this
guy's freaking awesome.539
00:20:57,004 --> 00:21:00,680
And then everyone went540
00:21:00,680 --> 00:21:02,030
and did their
finance interview541
00:21:02,030 --> 00:21:03,589
or their McKinsey
interview.542
00:21:03,589 --> 00:21:05,090
And it was kinda like543
00:21:05,090 --> 00:21:07,430
this pressure
and idea that544
00:21:07,430 --> 00:21:09,710
like you were
successful or545
00:21:09,710 --> 00:21:10,880
you were cool If546
00:21:10,880 --> 00:21:12,904
you were going
to Wall Street.547
00:21:12,904 --> 00:21:18,455
That was what was a
position of esteem.548
00:21:18,455 --> 00:21:21,739
And so what I'd
love to see is549
00:21:21,739 --> 00:21:24,845
just more engaging
events that550
00:21:24,845 --> 00:21:26,270
share with people
that there's551
00:21:26,270 --> 00:21:28,490
this whole other
career path.552
00:21:28,490 --> 00:21:31,490
There's this
whole other way553
00:21:31,490 --> 00:21:33,410
that you can have554
00:21:33,410 --> 00:21:35,480
a really enriching
career that works with555
00:21:35,480 --> 00:21:38,509
smart people and
inspiring stories.556
00:21:38,509 --> 00:21:40,489
And so I don't know557
00:21:40,489 --> 00:21:42,709
what currently is
happening on campus,558
00:21:42,709 --> 00:21:45,830
but I think just559
00:21:45,830 --> 00:21:48,770
sparking people's
curiosity to think560
00:21:48,770 --> 00:21:51,800
outside the box and
get them excited561
00:21:51,800 --> 00:21:54,004
about being involved in562
00:21:54,004 --> 00:21:55,940
startup companies.
I think.563
00:21:55,940 --> 00:21:58,504
I agree, I agree
wholeheartedly.564
00:21:58,504 --> 00:21:59,390
Lot of you know this,565
00:21:59,390 --> 00:22:00,949
but three prints
it all nice and566
00:22:00,949 --> 00:22:02,149
played a pretty
significant role567
00:22:02,149 --> 00:22:03,544
in the founding
of an armor.568
00:22:03,544 --> 00:22:05,060
They were a group of569
00:22:05,060 --> 00:22:06,770
the first institutional
check and unarmed.570
00:22:06,770 --> 00:22:07,640
So a lot of
folks that know571
00:22:07,640 --> 00:22:08,930
that about the
relationship between572
00:22:08,930 --> 00:22:11,644
an armor and several
Princeton alum.573
00:22:11,644 --> 00:22:13,699
Lauren, I will
jump to you.574
00:22:13,699 --> 00:22:16,700
So Lauren, tell
us your story.575
00:22:16,700 --> 00:22:19,159
How did you develop the
entrepreneurial bug?576
00:22:19,159 --> 00:22:21,305
And RO Oh man,577
00:22:21,305 --> 00:22:22,399
I don't know if
it counts as578
00:22:22,399 --> 00:22:24,949
an entrepreneurial bug
because I was really579
00:22:24,949 --> 00:22:26,270
risk averse and I580
00:22:26,270 --> 00:22:29,210
was very comfortable
is that Palin tier,581
00:22:29,210 --> 00:22:31,729
which is, at the
time I joined,582
00:22:31,729 --> 00:22:32,899
it was kind of a startup,583
00:22:32,899 --> 00:22:35,179
but 500 person startups584
00:22:35,179 --> 00:22:37,939
as a fairly safe bet,
I felt at that moment.585
00:22:37,939 --> 00:22:40,595
And I wanted to go into586
00:22:40,595 --> 00:22:43,160
an earlier phase
organization587
00:22:43,160 --> 00:22:43,534
where I can have588
00:22:43,534 --> 00:22:46,654
leadership role in
Rome was interesting,589
00:22:46,654 --> 00:22:48,004
but I learned a lot.590
00:22:48,004 --> 00:22:49,954
I can, I can
get into that.591
00:22:49,954 --> 00:22:53,389
But the entrepreneurial
bug actually did,592
00:22:53,389 --> 00:22:55,759
like I was interested
in from Princeton.593
00:22:55,759 --> 00:22:56,330
So I know you-all594
00:22:56,330 --> 00:22:57,470
mentioned when
we were there,595
00:22:57,470 --> 00:22:58,789
there weren't a
lot of classes,596
00:22:58,789 --> 00:22:59,809
but there was one.597
00:22:59,809 --> 00:23:02,224
Did you take ELE? Okay.598
00:23:02,224 --> 00:23:03,605
High-tech,
entrepreneurship.599
00:23:03,605 --> 00:23:06,575
And it was it was so good.600
00:23:06,575 --> 00:23:08,359
That was a
mind-blowing class601
00:23:08,359 --> 00:23:09,680
for me with eggshell.602
00:23:09,680 --> 00:23:12,094
And he brought
Tim Ferriss in.603
00:23:12,094 --> 00:23:13,820
And I came, I graduated,604
00:23:13,820 --> 00:23:15,229
I think like two
years before,605
00:23:15,229 --> 00:23:16,550
but he'd already
been like salsa606
00:23:16,550 --> 00:23:18,229
dancing competition
in around607
00:23:18,229 --> 00:23:20,089
South America and
he was like working608
00:23:20,089 --> 00:23:21,364
on the four hour workday.609
00:23:21,364 --> 00:23:22,250
I don't know what it was.610
00:23:22,250 --> 00:23:27,110
It was just like an
amazing class that said,611
00:23:27,110 --> 00:23:28,940
you can think about
these companies612
00:23:28,940 --> 00:23:31,370
and think about
venture capitals.613
00:23:31,370 --> 00:23:32,690
So for me, I had been in614
00:23:32,690 --> 00:23:34,370
molecular biology
and what do we want?615
00:23:34,370 --> 00:23:35,719
I had no idea
what I was doing.616
00:23:35,719 --> 00:23:36,560
I had not done617
00:23:36,560 --> 00:23:38,225
the interviews to
go to finance.618
00:23:38,225 --> 00:23:40,280
I was going to
Google and say,619
00:23:40,280 --> 00:23:40,880
What are you gonna do620
00:23:40,880 --> 00:23:42,259
a Google I was like
I have no idea,621
00:23:42,259 --> 00:23:43,954
but it's in California.622
00:23:43,954 --> 00:23:45,815
So anyway, it did
come from Princeton.623
00:23:45,815 --> 00:23:48,140
It just took me
another 12 plus years624
00:23:48,140 --> 00:23:49,939
to kinda like
circle back to it.625
00:23:49,939 --> 00:23:51,080
I see, You know,
it's funny.626
00:23:51,080 --> 00:23:52,100
I keep hearing about627
00:23:52,100 --> 00:23:53,269
this class that
people took and I628
00:23:53,269 --> 00:23:54,890
keep hearing about
Tim Ferriss also.629
00:23:54,890 --> 00:23:56,479
I guess once I'm
Tim Ferriss came to630
00:23:56,479 --> 00:23:58,070
this class and
told everybody631
00:23:58,070 --> 00:23:59,629
about this like magic632
00:23:59,629 --> 00:24:00,829
mushroom to take whatever633
00:24:00,829 --> 00:24:02,329
the bunch of
students took it can634
00:24:02,329 --> 00:24:03,109
help all of
their tests and635
00:24:03,109 --> 00:24:05,129
apparently everybody
gets sick.636
00:24:06,100 --> 00:24:08,450
I've heard about
this class637
00:24:08,450 --> 00:24:09,110
because I didn't not638
00:24:09,110 --> 00:24:12,120
take them off and
take this class.639
00:24:13,240 --> 00:24:15,259
Only three alumni with the640
00:24:15,259 --> 00:24:16,790
last three months have
told me the story.641
00:24:16,790 --> 00:24:20,150
So anyway, I guess,642
00:24:20,150 --> 00:24:21,274
how do you take in643
00:24:21,274 --> 00:24:22,670
what you're going
to palettes here in644
00:24:22,670 --> 00:24:26,165
Rome and now you are
an investor role ABC.645
00:24:26,165 --> 00:24:28,384
Sure that I might
want ABC is, yeah.646
00:24:28,384 --> 00:24:30,229
So APC is a venture
capital fund,647
00:24:30,229 --> 00:24:31,729
does a series a and648
00:24:31,729 --> 00:24:33,545
then some seed
investing as well.649
00:24:33,545 --> 00:24:35,000
It's about
five-and-a-half billion650
00:24:35,000 --> 00:24:36,185
assets under management.651
00:24:36,185 --> 00:24:38,269
And I joined actually652
00:24:38,269 --> 00:24:39,500
after selling the company,653
00:24:39,500 --> 00:24:44,180
I joined as a
COO CEO startup.654
00:24:44,180 --> 00:24:46,340
One of the things
that was, I think,655
00:24:46,340 --> 00:24:48,079
very present last
year at the end656
00:24:48,079 --> 00:24:49,835
of 2021 where
these frothy,657
00:24:49,835 --> 00:24:51,079
frothy evaluations658
00:24:51,079 --> 00:24:52,865
and everyone
had free money.659
00:24:52,865 --> 00:24:56,855
When I joined this
company as a startup COO,660
00:24:56,855 --> 00:24:59,539
I thought we also had
like two years plus of661
00:24:59,539 --> 00:25:00,709
runway and it turned out662
00:25:00,709 --> 00:25:02,195
we had one month
of runway.663
00:25:02,195 --> 00:25:04,879
So I in 2019664
00:25:04,879 --> 00:25:07,070
went through the gut
wrenching exercise665
00:25:07,070 --> 00:25:09,890
of to do to666
00:25:09,890 --> 00:25:11,180
survive that or is there667
00:25:11,180 --> 00:25:13,204
a survival path forward?668
00:25:13,204 --> 00:25:14,839
And luckily
there was and he669
00:25:14,839 --> 00:25:16,745
got it sold a
couple of months.670
00:25:16,745 --> 00:25:17,990
I mean, there's a
longer story there,671
00:25:17,990 --> 00:25:20,180
but coming into APC,672
00:25:20,180 --> 00:25:22,640
I felt like I've
been in the shoes of673
00:25:22,640 --> 00:25:25,415
the entrepreneur
in a hard time.674
00:25:25,415 --> 00:25:27,949
And so come
Welcome to 122.675
00:25:27,949 --> 00:25:29,255
And reality hitting.676
00:25:29,255 --> 00:25:31,054
It was really nice to say,677
00:25:31,054 --> 00:25:32,299
I've been in the spot678
00:25:32,299 --> 00:25:33,259
where you're going
to have to tighten679
00:25:33,259 --> 00:25:35,780
your belt and I can
tell you how I did it.680
00:25:35,780 --> 00:25:36,920
And so that to me was681
00:25:36,920 --> 00:25:39,929
a really powerful
translation.682
00:25:40,030 --> 00:25:43,190
Yeah, I've had those
conversations before.683
00:25:43,190 --> 00:25:46,610
They are not
easy. What would684
00:25:46,610 --> 00:25:49,040
you say this ecosystem
compares to other?685
00:25:49,040 --> 00:25:50,719
Because you've
been at obviously686
00:25:50,719 --> 00:25:52,774
your Silicon Valley,687
00:25:52,774 --> 00:25:54,920
maybe see like what
what's what you believe688
00:25:54,920 --> 00:25:56,719
Austin exemplifies some of689
00:25:56,719 --> 00:25:59,129
those traits that made
those places great?690
00:25:59,260 --> 00:26:02,014
I mean, I'm still kind
of new to Austin.691
00:26:02,014 --> 00:26:03,290
I will say that
you've been here.692
00:26:03,290 --> 00:26:04,460
I've been about
nine months.693
00:26:04,460 --> 00:26:05,884
Okay. So what brought
you to Austin?694
00:26:05,884 --> 00:26:08,090
Abc ABC did financing.695
00:26:08,090 --> 00:26:10,355
And I think what I'm
really impressed with696
00:26:10,355 --> 00:26:12,230
is there is just697
00:26:12,230 --> 00:26:13,730
like a thriving
VC community.698
00:26:13,730 --> 00:26:15,484
There's, there's
really a lot there.699
00:26:15,484 --> 00:26:17,239
And then the piece
that gives me700
00:26:17,239 --> 00:26:18,814
so much excitement at Hope701
00:26:18,814 --> 00:26:20,690
is the dielectric that702
00:26:20,690 --> 00:26:22,564
it's a place where
you really can,703
00:26:22,564 --> 00:26:24,320
and it's always
represented as I'm from704
00:26:24,320 --> 00:26:27,259
Houston originally,
multiple viewpoints.705
00:26:27,259 --> 00:26:28,940
You can be on the far706
00:26:28,940 --> 00:26:30,019
right and you can707
00:26:30,019 --> 00:26:31,429
be in Austin and
be on the left,708
00:26:31,429 --> 00:26:33,049
and you can have
a conversation.709
00:26:33,049 --> 00:26:36,305
And a dialogue. And
I just don't think,710
00:26:36,305 --> 00:26:37,819
I think that's why people711
00:26:37,819 --> 00:26:39,260
are leaving California.712
00:26:39,260 --> 00:26:41,209
And so I think that's
what makes this place713
00:26:41,209 --> 00:26:43,100
so special for businesses,714
00:26:43,100 --> 00:26:45,680
for entrepreneurs
to be able to715
00:26:45,680 --> 00:26:48,020
take advantage of
all the good ideas716
00:26:48,020 --> 00:26:49,474
from all the
different areas.717
00:26:49,474 --> 00:26:50,720
And I think ostium
is just like718
00:26:50,720 --> 00:26:52,175
the true dialectics.719
00:26:52,175 --> 00:26:53,720
I couldn't agree more as720
00:26:53,720 --> 00:26:56,014
a native Texan,
I would ask,721
00:26:56,014 --> 00:26:57,560
have you found now722
00:26:57,560 --> 00:26:58,459
that you're in the
venture capitals,723
00:26:58,459 --> 00:26:58,729
so you have,724
00:26:58,729 --> 00:27:00,469
you found that
Princeton VC ecosystem725
00:27:00,469 --> 00:27:02,330
to be helpful
collaborative at all?726
00:27:02,330 --> 00:27:03,470
Obviously, there's
a ton of press727
00:27:03,470 --> 00:27:04,939
coverage gap was Have you728
00:27:04,939 --> 00:27:07,759
found that to be helpful
or collaborative?729
00:27:07,759 --> 00:27:10,789
Well, I'm great to
connect with you.730
00:27:10,789 --> 00:27:12,900
Maybe I guess.731
00:27:14,410 --> 00:27:16,550
I think I think it is.732
00:27:16,550 --> 00:27:17,930
It's a great
community and I think733
00:27:17,930 --> 00:27:19,789
I'm just dipping my toes.734
00:27:19,789 --> 00:27:21,980
And so for me I'm like,735
00:27:21,980 --> 00:27:24,200
Well, real talk with
the 14 months old.736
00:27:24,200 --> 00:27:24,950
I'm still kinda like737
00:27:24,950 --> 00:27:26,375
coming out of the bubble.738
00:27:26,375 --> 00:27:27,859
But it's been, it's been739
00:27:27,859 --> 00:27:29,615
a wonderful place
and there is740
00:27:29,615 --> 00:27:33,859
a lot of really
curious, like friendly.741
00:27:33,859 --> 00:27:35,074
I mean, that's
like the South.742
00:27:35,074 --> 00:27:36,275
I think when I
was in college,743
00:27:36,275 --> 00:27:37,460
it was like
friendly compared744
00:27:37,460 --> 00:27:38,615
to like in Princeton and745
00:27:38,615 --> 00:27:39,769
the East Coast vibe was746
00:27:39,769 --> 00:27:41,149
like I'm from the South,747
00:27:41,149 --> 00:27:43,220
like there's a
friendliness that I think748
00:27:43,220 --> 00:27:46,190
happens in BC here to
make caught his people.749
00:27:46,190 --> 00:27:51,000
Do we have a cottage?750
00:27:51,280 --> 00:27:53,630
So we've got
four cottage and751
00:27:53,630 --> 00:27:55,414
his grace, there's
nothing embarrassing.752
00:27:55,414 --> 00:27:57,979
So Leslie, talk about753
00:27:57,979 --> 00:27:59,180
your connection to
the university.754
00:27:59,180 --> 00:27:59,660
You're talking about755
00:27:59,660 --> 00:28:01,129
your experience
up in Princeton.756
00:28:01,129 --> 00:28:02,479
And then I'll ask
you a question757
00:28:02,479 --> 00:28:05,069
about your role
here at Austin.758
00:28:06,460 --> 00:28:13,054
I think boys, so alright.759
00:28:13,054 --> 00:28:15,829
So my connection to
Princeton as unique,760
00:28:15,829 --> 00:28:17,569
I was actually
staff at Princeton,761
00:28:17,569 --> 00:28:18,169
so I worked in762
00:28:18,169 --> 00:28:19,775
the Davis
International Center,763
00:28:19,775 --> 00:28:22,310
really welcoming
international students764
00:28:22,310 --> 00:28:23,450
from all over the world765
00:28:23,450 --> 00:28:25,054
and scholars and spouses.766
00:28:25,054 --> 00:28:27,994
And so my experience
was actually in767
00:28:27,994 --> 00:28:29,869
adjusting International's768
00:28:29,869 --> 00:28:33,004
to not only Princeton
University,769
00:28:33,004 --> 00:28:36,080
Princeton, New Jersey,
The US, North America.770
00:28:36,080 --> 00:28:37,909
So you think about
that layering.771
00:28:37,909 --> 00:28:39,755
And so much of what
I did was really772
00:28:39,755 --> 00:28:41,540
finding the gaps
and the holes and773
00:28:41,540 --> 00:28:43,550
what international
students were seen as774
00:28:43,550 --> 00:28:45,019
challenges to that and775
00:28:45,019 --> 00:28:46,310
doing programming
for that.776
00:28:46,310 --> 00:28:48,050
So I'm really actually
interested in777
00:28:48,050 --> 00:28:50,554
the identity development
of students.778
00:28:50,554 --> 00:28:52,865
And so how that
translates to UT779
00:28:52,865 --> 00:28:54,230
is creating a program780
00:28:54,230 --> 00:28:55,729
that's actually
found her focus.781
00:28:55,729 --> 00:28:56,990
So one thing I
love is that782
00:28:56,990 --> 00:28:58,535
the Kendra Scott Women's783
00:28:58,535 --> 00:29:00,124
entrepreneur
Leadership Institute,784
00:29:00,124 --> 00:29:01,880
we call it k a
swale for short,785
00:29:01,880 --> 00:29:03,169
is actually
focus first and786
00:29:03,169 --> 00:29:04,924
foremost on who you
are as a founder.787
00:29:04,924 --> 00:29:06,139
So before you even start788
00:29:06,139 --> 00:29:07,910
a company, what are
your strengths?789
00:29:07,910 --> 00:29:08,929
What are your blind spots?790
00:29:08,929 --> 00:29:10,115
What are your values?791
00:29:10,115 --> 00:29:11,449
And building
programming and792
00:29:11,449 --> 00:29:13,144
competence based
off of that,793
00:29:13,144 --> 00:29:14,629
to then launch into794
00:29:14,629 --> 00:29:16,429
the 100 plus things that795
00:29:16,429 --> 00:29:18,919
exist on campus
for entrepreneurs.796
00:29:18,919 --> 00:29:20,600
So we think that if797
00:29:20,600 --> 00:29:22,460
we believe that if
you can see her,798
00:29:22,460 --> 00:29:23,329
you can be her and799
00:29:23,329 --> 00:29:25,249
representation
is so important.800
00:29:25,249 --> 00:29:27,350
So with that, actually801
00:29:27,350 --> 00:29:29,270
have been able to have
a faculty appointment802
00:29:29,270 --> 00:29:31,459
at McCombs to co-create803
00:29:31,459 --> 00:29:33,139
a class with my
co-instructor,804
00:29:33,139 --> 00:29:34,550
Vaishali that's really805
00:29:34,550 --> 00:29:36,259
focused on Entrepreneur
Leadership.806
00:29:36,259 --> 00:29:38,209
And really what are
those core competencies807
00:29:38,209 --> 00:29:40,234
that make you a
successful founder?808
00:29:40,234 --> 00:29:41,839
To know who you
are well enough to809
00:29:41,839 --> 00:29:43,759
be able to then find
the co-founder.810
00:29:43,759 --> 00:29:45,920
And so when I think
about Princeton and811
00:29:45,920 --> 00:29:48,619
being on staff and staff
fellow at Whitman,812
00:29:48,619 --> 00:29:51,094
and really the global
mindset that I813
00:29:51,094 --> 00:29:52,429
love so much working814
00:29:52,429 --> 00:29:53,734
in international
education.815
00:29:53,734 --> 00:29:55,700
I think there's this
beautiful intersection816
00:29:55,700 --> 00:29:57,199
between the global mindset817
00:29:57,199 --> 00:29:58,614
and the Ontario mindset,818
00:29:58,614 --> 00:30:00,499
then that's what we're
trying to teach.819
00:30:00,499 --> 00:30:02,060
And with that, because820
00:30:02,060 --> 00:30:03,905
k is valley has
the mission to821
00:30:03,905 --> 00:30:05,480
empower women to lead822
00:30:05,480 --> 00:30:07,489
and encouraged the
world to follow.823
00:30:07,489 --> 00:30:09,440
We've actually in the
first three years824
00:30:09,440 --> 00:30:10,519
because we just launched,825
00:30:10,519 --> 00:30:11,689
we consider ourselves a826
00:30:11,689 --> 00:30:13,774
non-profit startup
within UT,827
00:30:13,774 --> 00:30:16,460
global opportunities
in Indonesia828
00:30:16,460 --> 00:30:17,629
and actually with Morocco,829
00:30:17,629 --> 00:30:19,579
with some fellows
to really get830
00:30:19,579 --> 00:30:21,500
that global
perspective into831
00:30:21,500 --> 00:30:23,660
the conversation about
entrepreneurship.832
00:30:23,660 --> 00:30:25,069
Because that's where
the magic happens833
00:30:25,069 --> 00:30:26,450
is having all
the perspective,834
00:30:26,450 --> 00:30:28,144
building diverse teams,835
00:30:28,144 --> 00:30:29,795
thinking about
entrepreneurship,836
00:30:29,795 --> 00:30:31,175
interdisciplinary.837
00:30:31,175 --> 00:30:33,169
So the thing I'll
end on and thinking838
00:30:33,169 --> 00:30:35,030
about Princeton
is that you839
00:30:35,030 --> 00:30:36,500
get so much diversity840
00:30:36,500 --> 00:30:37,970
of discipline
when you're in841
00:30:37,970 --> 00:30:39,335
the different colleges842
00:30:39,335 --> 00:30:40,639
that we've replicated that843
00:30:40,639 --> 00:30:42,200
with classes
that are open to844
00:30:42,200 --> 00:30:43,955
students of all majors.845
00:30:43,955 --> 00:30:45,020
And so we partner with846
00:30:45,020 --> 00:30:47,689
five college campuses,
Engineering,847
00:30:47,689 --> 00:30:49,115
College of
Natural Sciences,848
00:30:49,115 --> 00:30:51,019
Business, College
of Fine Arts849
00:30:51,019 --> 00:30:52,369
and undergraduate studies.850
00:30:52,369 --> 00:30:55,940
To then have our programming
in courses where851
00:30:55,940 --> 00:30:57,950
you're on a team852
00:30:57,950 --> 00:30:58,669
with students of853
00:30:58,669 --> 00:30:59,660
all the different
disciplines.854
00:30:59,660 --> 00:31:00,919
So all of a
sudden you have855
00:31:00,919 --> 00:31:03,425
the engineer with
the marketing major,856
00:31:03,425 --> 00:31:04,819
with a finance major857
00:31:04,819 --> 00:31:06,709
coming up with the
class project that858
00:31:06,709 --> 00:31:08,404
then gets them part859
00:31:08,404 --> 00:31:10,654
of the larger
UT ecosystem.860
00:31:10,654 --> 00:31:11,570
And so think about861
00:31:11,570 --> 00:31:12,860
the college model
at Princeton.862
00:31:12,860 --> 00:31:14,810
And I really
loved that you863
00:31:14,810 --> 00:31:16,880
get to be
alongside students864
00:31:16,880 --> 00:31:19,730
from all different majors
to be able to have865
00:31:19,730 --> 00:31:23,315
that really organic
relationship.866
00:31:23,315 --> 00:31:24,590
And so I think that that's867
00:31:24,590 --> 00:31:26,645
a really nice translation.868
00:31:26,645 --> 00:31:28,699
So Kendra is
not only one of869
00:31:28,699 --> 00:31:30,229
the most successful
entrepreneurs870
00:31:30,229 --> 00:31:31,430
have come out of
university Texas,871
00:31:31,430 --> 00:31:33,380
but in the State
of Texas history.872
00:31:33,380 --> 00:31:37,549
So I guess what
impact has she had on873
00:31:37,549 --> 00:31:39,995
the UT ecosystem from
which you've seen874
00:31:39,995 --> 00:31:41,855
in the texts ecosystem875
00:31:41,855 --> 00:31:43,580
by the founding
of this program.876
00:31:43,580 --> 00:31:45,320
Well, so point of
clarification,877
00:31:45,320 --> 00:31:46,864
contractually never
went to college.878
00:31:46,864 --> 00:31:49,429
She did one semester
at A&M and left879
00:31:49,429 --> 00:31:52,354
to take care of her
sick father-in-law.880
00:31:52,354 --> 00:31:53,944
So this is actually a true881
00:31:53,944 --> 00:31:56,180
ultimate give back of
Kendra, the person.882
00:31:56,180 --> 00:31:58,219
And so she actually
just endowed case883
00:31:58,219 --> 00:32:00,740
while you for
$13.25 million.884
00:32:00,740 --> 00:32:03,769
The brand has a
hand in that too.885
00:32:03,769 --> 00:32:05,675
So it's honestly
you think about886
00:32:05,675 --> 00:32:06,859
Kendra Scott and the887
00:32:06,859 --> 00:32:08,720
philanthropic reach
that she has,888
00:32:08,720 --> 00:32:10,129
which in my
opinion is one of889
00:32:10,129 --> 00:32:12,049
the reasons why she
is so successful.890
00:32:12,049 --> 00:32:13,910
Because if you buy
a piece of jewelry,891
00:32:13,910 --> 00:32:15,080
you know that
that give back is892
00:32:15,080 --> 00:32:16,925
going to multiple causes.893
00:32:16,925 --> 00:32:18,739
So k is value is actually894
00:32:18,739 --> 00:32:20,299
the biggest
philanthropic gift back895
00:32:20,299 --> 00:32:22,909
for her as a person
and the brand.896
00:32:22,909 --> 00:32:24,440
And really it's to empower897
00:32:24,440 --> 00:32:26,299
this next generation of898
00:32:26,299 --> 00:32:27,709
women leaders because she899
00:32:27,709 --> 00:32:28,819
had so many challenges900
00:32:28,819 --> 00:32:30,260
when she was starting to901
00:32:30,260 --> 00:32:31,700
raise capital for902
00:32:31,700 --> 00:32:33,710
her company. She
bootstrapped it.903
00:32:33,710 --> 00:32:35,794
I know they just
turned 20 years old,904
00:32:35,794 --> 00:32:37,190
but she actually
really has905
00:32:37,190 --> 00:32:39,409
the passion to be
in the classrooms.906
00:32:39,409 --> 00:32:40,729
So she is a professor of907
00:32:40,729 --> 00:32:42,500
practice in the College
of Fine Arts and908
00:32:42,500 --> 00:32:43,700
teaches a course with909
00:32:43,700 --> 00:32:45,080
Jan Ryan focused910
00:32:45,080 --> 00:32:46,249
on women in
entrepreneurship.911
00:32:46,249 --> 00:32:47,465
So you take
entrepreneurship,912
00:32:47,465 --> 00:32:48,679
you put a woman's
perspective913
00:32:48,679 --> 00:32:50,240
audit, which
doesn't happen.914
00:32:50,240 --> 00:32:51,769
The entrepreneurship
curriculum that exists915
00:32:51,769 --> 00:32:52,669
today just doesn't916
00:32:52,669 --> 00:32:53,839
have that woman's
perspective.917
00:32:53,839 --> 00:32:55,190
You think about
the case studies.918
00:32:55,190 --> 00:32:56,510
You think about
the faculty,919
00:32:56,510 --> 00:32:58,219
you think about the
books you read.920
00:32:58,219 --> 00:33:00,860
Amen. So one of the
things that we've921
00:33:00,860 --> 00:33:01,790
been able to do is922
00:33:01,790 --> 00:33:03,440
actually through
that endowment,923
00:33:03,440 --> 00:33:05,180
create a women in
entrepreneurship924
00:33:05,180 --> 00:33:06,304
specialization925
00:33:06,304 --> 00:33:07,790
within the
Entrepreneurship minor926
00:33:07,790 --> 00:33:09,770
in the McCombs
School of Business.927
00:33:09,770 --> 00:33:11,419
That now all of
a sudden has928
00:33:11,419 --> 00:33:12,709
four courses that929
00:33:12,709 --> 00:33:14,360
have that women's
perspective.930
00:33:14,360 --> 00:33:16,340
What's exciting about
that is that's unique,931
00:33:16,340 --> 00:33:17,419
that doesn't exist in932
00:33:17,419 --> 00:33:20,585
any peer institutions
that I know of.933
00:33:20,585 --> 00:33:21,740
There's one-off
courses, but934
00:33:21,740 --> 00:33:24,184
not actually a set tract,935
00:33:24,184 --> 00:33:26,690
credit bearing experience.936
00:33:26,690 --> 00:33:28,010
And so I'm doing937
00:33:28,010 --> 00:33:29,780
research for my
dissertation actually on938
00:33:29,780 --> 00:33:31,775
gender aware
approaches to teaching939
00:33:31,775 --> 00:33:33,965
entrepreneurship
education and how940
00:33:33,965 --> 00:33:35,870
do you bring the
woman's perspective?941
00:33:35,870 --> 00:33:39,170
And so, because I have
the mic and the stage,942
00:33:39,170 --> 00:33:40,970
it's really amazing
if you think about943
00:33:40,970 --> 00:33:43,370
the kinda Scots and
the social impact and944
00:33:43,370 --> 00:33:44,750
social entrepreneurship
and that945
00:33:44,750 --> 00:33:46,939
give back women naturally946
00:33:46,939 --> 00:33:48,770
create that with
their businesses at947
00:33:48,770 --> 00:33:50,870
the foundation
very early levels,948
00:33:50,870 --> 00:33:52,849
but it never
gets accounted949
00:33:52,849 --> 00:33:53,959
into a return on950
00:33:53,959 --> 00:33:55,625
investment or
success metric.951
00:33:55,625 --> 00:33:56,659
And so we're really trying952
00:33:56,659 --> 00:33:57,859
to understand how to953
00:33:57,859 --> 00:34:00,080
quantify that
social impact954
00:34:00,080 --> 00:34:01,729
that give back if955
00:34:01,729 --> 00:34:03,109
you take any of
the classes and956
00:34:03,109 --> 00:34:04,580
the women entrepreneurship
and you see957
00:34:04,580 --> 00:34:06,604
this next generation
of entrepreneurs,958
00:34:06,604 --> 00:34:09,049
social impacts and
that foundation of959
00:34:09,049 --> 00:34:11,584
the philanthropic,960
00:34:11,584 --> 00:34:13,280
or sorry, the political,961
00:34:13,280 --> 00:34:16,310
environmental and
environmental impact is962
00:34:16,310 --> 00:34:17,960
getting created now at963
00:34:17,960 --> 00:34:20,224
that Lean Canvas
startup moment,964
00:34:20,224 --> 00:34:22,595
which in my opinion
is really exciting.965
00:34:22,595 --> 00:34:24,260
I thought you
had your cheeks.966
00:34:24,260 --> 00:34:25,639
I've seen her that
would probably967
00:34:25,639 --> 00:34:27,635
four or five UT
football games,968
00:34:27,635 --> 00:34:29,449
UT events always
in burnt orange.969
00:34:29,449 --> 00:34:32,330
So I have a sweet job.970
00:34:32,330 --> 00:34:34,370
So while she's
doing a good job971
00:34:34,370 --> 00:34:37,115
of supporting
the institution.972
00:34:37,115 --> 00:34:38,359
So I guess to973
00:34:38,359 --> 00:34:39,140
the last point you just974
00:34:39,140 --> 00:34:40,294
made the question
I'll ask you is,975
00:34:40,294 --> 00:34:43,310
what do you
think proceeds?976
00:34:43,310 --> 00:34:44,779
I hate to use this
term, forgive me,977
00:34:44,779 --> 00:34:46,129
but what do you think978
00:34:46,129 --> 00:34:47,300
the elite
institutions like979
00:34:47,300 --> 00:34:50,210
Princeton can do to that?980
00:34:50,210 --> 00:34:51,289
Haven't Australia
presently981
00:34:51,289 --> 00:34:52,550
student encouraged
more female,982
00:34:52,550 --> 00:34:53,825
founded a funny companies.983
00:34:53,825 --> 00:34:55,339
And do you believe
alumni can play984
00:34:55,339 --> 00:34:58,189
it in supporting
similar kind of what?985
00:34:58,189 --> 00:34:59,810
Kinda different
taxes do you986
00:34:59,810 --> 00:35:01,369
believe along like to987
00:35:01,369 --> 00:35:03,019
play a more
catalytic effect988
00:35:03,019 --> 00:35:04,969
and supporting
that initiative?989
00:35:04,969 --> 00:35:06,800
Yeah, so the
promising practices990
00:35:06,800 --> 00:35:08,284
that we've learned
with K a swale,991
00:35:08,284 --> 00:35:10,310
I think can be
duplicate and992
00:35:10,310 --> 00:35:12,635
especially at universities
like Princeton.993
00:35:12,635 --> 00:35:14,870
And really it all comes
down to community.994
00:35:14,870 --> 00:35:17,150
We started off with
core pillars just like995
00:35:17,150 --> 00:35:19,355
Kendra of fashion,
family philanthropy.996
00:35:19,355 --> 00:35:21,935
We are empowering,
equipping and community.997
00:35:21,935 --> 00:35:24,019
The students are
hungry for community.998
00:35:24,019 --> 00:35:26,150
And honestly, like
I said before,999
00:35:26,150 --> 00:35:27,620
it's that
representation that if1000
00:35:27,620 --> 00:35:29,299
you can see her,
you can be heard.1001
00:35:29,299 --> 00:35:30,560
And the Kendra
Scott, So the world1002
00:35:30,560 --> 00:35:31,970
are amazing and
inspirational,1003
00:35:31,970 --> 00:35:33,424
but it's the near peers.1004
00:35:33,424 --> 00:35:34,954
It's the women who are1005
00:35:34,954 --> 00:35:37,069
closer in age and
experience to1006
00:35:37,069 --> 00:35:39,379
see that successful woman1007
00:35:39,379 --> 00:35:40,954
and to tell that story.1008
00:35:40,954 --> 00:35:42,499
That's really,
I think been1009
00:35:42,499 --> 00:35:44,719
the magic of what
we've seen at k as1010
00:35:44,719 --> 00:35:46,939
valley and really
engaging students1011
00:35:46,939 --> 00:35:48,440
in the entrepreneurship
process.1012
00:35:48,440 --> 00:35:50,449
So we also say
k is valleys1013
00:35:50,449 --> 00:35:52,745
and institute for
students by students.1014
00:35:52,745 --> 00:35:55,115
So it's its own startup,1015
00:35:55,115 --> 00:35:56,600
it's its own leadership
organizations1016
00:35:56,600 --> 00:35:57,589
to students as much as1017
00:35:57,589 --> 00:35:58,669
they can or running1018
00:35:58,669 --> 00:36:00,260
the institute
like a startup.1019
00:36:00,260 --> 00:36:01,430
And because they're
getting that1020
00:36:01,430 --> 00:36:02,599
real-world experience,1021
00:36:02,599 --> 00:36:04,219
those real
portfolio pieces,1022
00:36:04,219 --> 00:36:05,300
it's building
competence in1023
00:36:05,300 --> 00:36:06,409
a way that now they1024
00:36:06,409 --> 00:36:07,459
have a group of friends to1025
00:36:07,459 --> 00:36:08,929
go take the classes,1026
00:36:08,929 --> 00:36:11,749
pitch on stage, join
the organizations.1027
00:36:11,749 --> 00:36:12,949
And that's been really1028
00:36:12,949 --> 00:36:14,899
the truest finding that1029
00:36:14,899 --> 00:36:16,730
we have found in the
first three years.1030
00:36:16,730 --> 00:36:18,050
And so Princeton can do1031
00:36:18,050 --> 00:36:19,550
that. Anyone can do that.1032
00:36:19,550 --> 00:36:21,499
Yeah, it's interesting.
You say that I met1033
00:36:21,499 --> 00:36:22,624
a couple of students1034
00:36:22,624 --> 00:36:23,689
before the summer started.1035
00:36:23,689 --> 00:36:25,069
We were getting ready
for an internship1036
00:36:25,069 --> 00:36:27,229
for students we take in.1037
00:36:27,229 --> 00:36:28,640
So an undergrad
and even know1038
00:36:28,640 --> 00:36:29,914
who melody Hobson was.1039
00:36:29,914 --> 00:36:31,085
And he's warning
that was like,1040
00:36:31,085 --> 00:36:31,744
Are you kidding me?1041
00:36:31,744 --> 00:36:32,809
This one the largest1042
00:36:32,809 --> 00:36:34,160
gifts in the history
of Princeton.1043
00:36:34,160 --> 00:36:35,210
And it bothers me because1044
00:36:35,210 --> 00:36:36,109
I think Princeton could do1045
00:36:36,109 --> 00:36:37,205
a better job of
highlighting1046
00:36:37,205 --> 00:36:38,449
alumni and such as that.1047
00:36:38,449 --> 00:36:39,649
And so that students1048
00:36:39,649 --> 00:36:40,804
can you hear you say that1049
00:36:40,804 --> 00:36:42,409
as you've been a leader in1050
00:36:42,409 --> 00:36:44,600
this austin ecosystem
for some time now,1051
00:36:44,600 --> 00:36:45,740
what do you believe makes1052
00:36:45,740 --> 00:36:46,730
this place so special?1053
00:36:46,730 --> 00:36:48,495
And what advice
do you have?1054
00:36:48,495 --> 00:36:50,619
For folks coming in and
also for the rest of1055
00:36:50,619 --> 00:36:53,139
your system in fostering
collaboration.1056
00:36:53,139 --> 00:36:54,609
I mentioned my
background is1057
00:36:54,609 --> 00:36:55,885
international education,1058
00:36:55,885 --> 00:36:58,179
but I randomly found1059
00:36:58,179 --> 00:36:59,260
myself running1060
00:36:59,260 --> 00:37:01,959
an accelerator
called tarmac TX,1061
00:37:01,959 --> 00:37:03,415
which is sponsored by 3M,1062
00:37:03,415 --> 00:37:05,695
focused on social impact
and green start-ups.1063
00:37:05,695 --> 00:37:07,224
And I think it's because1064
00:37:07,224 --> 00:37:08,965
I have an
entrepreneurial mindset.1065
00:37:08,965 --> 00:37:10,300
And so I think anyone1066
00:37:10,300 --> 00:37:12,489
who wants to be a
disruptor and is1067
00:37:12,489 --> 00:37:14,409
enthusiastic about
solving a problem1068
00:37:14,409 --> 00:37:16,674
can join the
Austin ecosystem.1069
00:37:16,674 --> 00:37:17,890
But I think the magic1070
00:37:17,890 --> 00:37:19,179
of what we're doing here1071
00:37:19,179 --> 00:37:21,730
in Austin is the culture
of collaboration,1072
00:37:21,730 --> 00:37:23,124
not competition, that1073
00:37:23,124 --> 00:37:24,535
my network is
your network.1074
00:37:24,535 --> 00:37:25,720
If I vouch and1075
00:37:25,720 --> 00:37:27,385
say You should have
coffee with someone,1076
00:37:27,385 --> 00:37:29,125
you go and get
coffee with someone,1077
00:37:29,125 --> 00:37:30,760
and there's good
karma in that.1078
00:37:30,760 --> 00:37:31,600
And that's what we have to1079
00:37:31,600 --> 00:37:33,174
protect at all cost,1080
00:37:33,174 --> 00:37:35,545
I think is the culture
that exists here,1081
00:37:35,545 --> 00:37:37,270
that we're all in
this together.1082
00:37:37,270 --> 00:37:38,874
I've heard many times1083
00:37:38,874 --> 00:37:41,724
the rising tide lifts
all boats in Austin.1084
00:37:41,724 --> 00:37:43,329
It's actually
feminist tenant of1085
00:37:43,329 --> 00:37:45,775
flourishing and raising
others up with you.1086
00:37:45,775 --> 00:37:47,619
And I think that truly
exists here and I've1087
00:37:47,619 --> 00:37:49,735
seen amazing
examples of that.1088
00:37:49,735 --> 00:37:51,849
And I think it's
hard to navigate.1089
00:37:51,849 --> 00:37:53,559
So it's a very
saturated ecosystem1090
00:37:53,559 --> 00:37:55,330
with incubators
and accelerators.1091
00:37:55,330 --> 00:37:56,469
But that also
means that there's1092
00:37:56,469 --> 00:37:57,805
something for everyone.1093
00:37:57,805 --> 00:37:58,629
You just have to find1094
00:37:58,629 --> 00:37:59,920
the person that
can connect1095
00:37:59,920 --> 00:38:02,080
our matchmaker you to
the right opportunity.1096
00:38:02,080 --> 00:38:03,445
And I think that we're1097
00:38:03,445 --> 00:38:04,870
going in a better
direction to be1098
00:38:04,870 --> 00:38:08,570
able to have that be
easier to navigate.1099
00:38:09,570 --> 00:38:11,709
I guess the next
question I have1100
00:38:11,709 --> 00:38:12,969
is actually for everybody.1101
00:38:12,969 --> 00:38:14,844
But what do you believe1102
00:38:14,844 --> 00:38:18,475
the university NPC
as a whole can do to1103
00:38:18,475 --> 00:38:20,949
engage a lot more like
yourself more with1104
00:38:20,949 --> 00:38:23,230
the university and just1105
00:38:23,230 --> 00:38:25,909
build more natural and
genuine connection.1106
00:38:26,430 --> 00:38:28,914
I mean, I love this.1107
00:38:28,914 --> 00:38:30,774
I miss the
in-person stuff,1108
00:38:30,774 --> 00:38:32,364
the digital events.1109
00:38:32,364 --> 00:38:33,880
I don't know about
everybody else.1110
00:38:33,880 --> 00:38:35,259
I feel like I got to three1111
00:38:35,259 --> 00:38:36,310
digital events
I could go to1112
00:38:36,310 --> 00:38:37,510
a day and it's frankly1113
00:38:37,510 --> 00:38:39,070
just not that interesting.1114
00:38:39,070 --> 00:38:41,335
And I personally
think like this1115
00:38:41,335 --> 00:38:43,299
in-person
engagement stuff is1116
00:38:43,299 --> 00:38:45,174
what a lot of
people are craving.1117
00:38:45,174 --> 00:38:48,190
And so hybrid that1118
00:38:48,190 --> 00:38:50,709
university and
can, you know,1119
00:38:50,709 --> 00:38:52,119
work with people like1120
00:38:52,119 --> 00:38:54,010
Dawn or other
people to just get1121
00:38:54,010 --> 00:38:57,354
people together
that in real life,1122
00:38:57,354 --> 00:38:59,719
I think would be amazing.1123
00:39:00,930 --> 00:39:03,250
I think you've probably
already exist,1124
00:39:03,250 --> 00:39:04,750
but like you said,1125
00:39:04,750 --> 00:39:06,279
in-person events, Do we1126
00:39:06,279 --> 00:39:07,779
have a mini reunion here?1127
00:39:07,779 --> 00:39:09,129
Like so we don't
have to go1128
00:39:09,129 --> 00:39:11,304
back. I would love that.1129
00:39:11,304 --> 00:39:13,480
The fund where you get1130
00:39:13,480 --> 00:39:15,579
to see everyone
and reconnect.1131
00:39:15,579 --> 00:39:17,560
And I love her
union so much,1132
00:39:17,560 --> 00:39:18,249
but I don't want to1133
00:39:18,249 --> 00:39:19,585
travel there
with three kids,1134
00:39:19,585 --> 00:39:22,030
like I really know,
not every year.1135
00:39:22,030 --> 00:39:23,799
So that type of1136
00:39:23,799 --> 00:39:26,679
like that energy,
that community.1137
00:39:26,679 --> 00:39:29,065
Maybe, maybe
it's a tailgate.1138
00:39:29,065 --> 00:39:30,865
I know that one
of these games,1139
00:39:30,865 --> 00:39:32,739
I think that'd
be really fine.1140
00:39:32,739 --> 00:39:35,440
So I'm going to do1141
00:39:35,440 --> 00:39:36,520
a better job of1142
00:39:36,520 --> 00:39:38,739
engaging the
community myself.1143
00:39:38,739 --> 00:39:42,010
So I just making
more awareness1144
00:39:42,010 --> 00:39:43,179
for me1145
00:39:43,179 --> 00:39:46,015
of different initiatives
that are ongoing.1146
00:39:46,015 --> 00:39:49,360
I do think ligase, I'd
say, but Stanford,1147
00:39:49,360 --> 00:39:54,109
Harvard, entrepreneurship,1148
00:39:54,540 --> 00:39:58,134
entrepreneurs and
getting them engaged.1149
00:39:58,134 --> 00:40:00,969
With the undergrads.
There were1150
00:40:00,969 --> 00:40:04,189
some good models
already exist.1151
00:40:06,450 --> 00:40:13,030
Whether it's accelerators
that are organized.1152
00:40:13,030 --> 00:40:15,040
Your capital, that is1153
00:40:15,040 --> 00:40:17,930
Princeton phobias.
That's correctly.1154
00:40:18,210 --> 00:40:21,850
Generally just I'm
really excited to1155
00:40:21,850 --> 00:40:26,245
hear that nursing programs1156
00:40:26,245 --> 00:40:28,735
specifically focused
on entrepreneurship1157
00:40:28,735 --> 00:40:30,190
feels like not teaching1158
00:40:30,190 --> 00:40:31,840
entrepreneurship is like1159
00:40:31,840 --> 00:40:35,244
teaching computer science.1160
00:40:35,244 --> 00:40:41,260
There's a full path
for undergrads from1161
00:40:41,260 --> 00:40:50,479
one year to senior year
and they're fighting.1162
00:40:51,570 --> 00:40:53,184
Yeah.1163
00:40:53,184 --> 00:40:55,855
I think a lot of
folks, I know this.1164
00:40:55,855 --> 00:40:57,730
In addition to the
entrepreneurship class1165
00:40:57,730 --> 00:40:59,770
that a lot of you took
while at Princeton,1166
00:40:59,770 --> 00:41:01,090
they've also added a class1167
00:41:01,090 --> 00:41:02,709
that's primarily
venture capital.1168
00:41:02,709 --> 00:41:04,959
And they'll have various
venture capital like1169
00:41:04,959 --> 00:41:06,205
partners and funds that1170
00:41:06,205 --> 00:41:07,330
then Dalits invested in,1171
00:41:07,330 --> 00:41:08,889
come back and speak
to the class.1172
00:41:08,889 --> 00:41:11,095
And it's been enormously
popular on campus.1173
00:41:11,095 --> 00:41:12,609
And it has caused this1174
00:41:12,609 --> 00:41:14,259
new generation of
kids to want to1175
00:41:14,259 --> 00:41:15,459
come out of
undergraduate and start1176
00:41:15,459 --> 00:41:16,480
a venture fund
with absolutely no1177
00:41:16,480 --> 00:41:18,559
operating
experience like me.1178
00:41:19,740 --> 00:41:22,465
And so I think1179
00:41:22,465 --> 00:41:25,060
as someone who is very
close to university,1180
00:41:25,060 --> 00:41:26,199
it's been a lot of
time with a lot of the1181
00:41:26,199 --> 00:41:27,625
students that aren't
together this week.1182
00:41:27,625 --> 00:41:30,489
I would say
there's a fire and1183
00:41:30,489 --> 00:41:31,629
a desire for them1184
00:41:31,629 --> 00:41:33,669
to continue to engage
with groups like PEC.1185
00:41:33,669 --> 00:41:34,914
But I'm like
yourself. And so1186
00:41:34,914 --> 00:41:36,699
some advice I would
have is just be very1187
00:41:36,699 --> 00:41:37,750
open to talk to1188
00:41:37,750 --> 00:41:39,024
undergraduates.1189
00:41:39,024 --> 00:41:40,449
Because that's all
undergraduates.1190
00:41:40,449 --> 00:41:41,034
The same thing.1191
00:41:41,034 --> 00:41:42,999
Like you e-mail
a person alone.1192
00:41:42,999 --> 00:41:44,710
95% of the time1193
00:41:44,710 --> 00:41:45,939
they're gonna email
back because it's1194
00:41:45,939 --> 00:41:47,080
just a special
place and that's1195
00:41:47,080 --> 00:41:48,939
the privilege wants
with places like that.1196
00:41:48,939 --> 00:41:50,934
And so I was encouraged1197
00:41:50,934 --> 00:41:52,599
some collaboration
from our side1198
00:41:52,599 --> 00:41:53,710
as well as from
undergraduate.1199
00:41:53,710 --> 00:41:54,579
And just want to
say thank you to1200
00:41:54,579 --> 00:41:55,869
PEC for your efforts.1201
00:41:55,869 --> 00:41:57,325
You've done a
phenomenal job, done1202
00:41:57,325 --> 00:41:58,509
you in Emory and
everybody there.1203
00:41:58,509 --> 00:41:59,919
And so I want to1204
00:41:59,919 --> 00:42:00,849
leave time for
any questions1205
00:42:00,849 --> 00:42:01,824
you might want to ask.1206
00:42:01,824 --> 00:42:05,034
Also Scott, you were
just recently engaged.1207
00:42:05,034 --> 00:42:07,390
Has your fiance1208
00:42:07,390 --> 00:42:10,195
experienced agents
hopefully know1209
00:42:10,195 --> 00:42:16,090
because we're marking
the calendar's a go.1210
00:42:16,090 --> 00:42:17,739
One thing I would
just say to follow1211
00:42:17,739 --> 00:42:19,435
up on that question too,1212
00:42:19,435 --> 00:42:22,734
I'm stoked to meet
everybody in this room.1213
00:42:22,734 --> 00:42:26,065
And I think there's
this kind of like1214
00:42:26,065 --> 00:42:31,195
Princeton in Austin,
digital presence.1215
00:42:31,195 --> 00:42:32,890
Where there isn't like1216
00:42:32,890 --> 00:42:34,824
a really common interest.1217
00:42:34,824 --> 00:42:37,899
But like Princeton
in Austin,1218
00:42:37,899 --> 00:42:40,974
entrepreneurship or
tack or startups.1219
00:42:40,974 --> 00:42:42,789
I would go to that event.1220
00:42:42,789 --> 00:42:45,114
Like, I wish there
was an email list.1221
00:42:45,114 --> 00:42:47,410
I wish there was a
Slack group where I1222
00:42:47,410 --> 00:42:49,809
could see opportunities
and post jobs.1223
00:42:49,809 --> 00:42:54,024
And so how do we
localize this digitally,1224
00:42:54,024 --> 00:42:56,019
I think would be
really interesting.1225
00:42:56,019 --> 00:42:58,389
And you know, maybe,1226
00:42:58,389 --> 00:42:59,319
maybe it even doesn't1227
00:42:59,319 --> 00:43:00,490
have to come from
the top-down.1228
00:43:00,490 --> 00:43:01,915
And it could be
like Grep, like1229
00:43:01,915 --> 00:43:02,950
more grassroots1230
00:43:02,950 --> 00:43:04,210
were started like1231
00:43:04,210 --> 00:43:06,219
a Google Group
or something,1232
00:43:06,219 --> 00:43:09,550
or like a slack and
just by people.1233
00:43:09,550 --> 00:43:12,039
But that, that
I'm in a bunch of1234
00:43:12,039 --> 00:43:15,714
these communities
online that art,1235
00:43:15,714 --> 00:43:18,040
prints and focus, and
I definitely have1236
00:43:18,040 --> 00:43:19,020
an allegiance to Princeton1237
00:43:19,020 --> 00:43:20,214
and think that would
be really cool.1238
00:43:20,214 --> 00:43:23,169
Yep. Some Russo, she's
her to speak to that.1239
00:43:23,169 --> 00:43:25,809
Done a phenomenal
job as well.1240
00:43:25,809 --> 00:43:27,160
Depth normal
job of helping1241
00:43:27,160 --> 00:43:29,379
lead the pencil
Club of Boston.1242
00:43:29,379 --> 00:43:31,764
And I'm sure she has1243
00:43:31,764 --> 00:43:33,220
excellent needs
to continue to1244
00:43:33,220 --> 00:43:34,539
expand and collaboration.1245
00:43:34,539 --> 00:43:35,889
And it's funny you
say that I met with1246
00:43:35,889 --> 00:43:37,419
some folks from Stanford1247
00:43:37,419 --> 00:43:38,394
who felt the same way1248
00:43:38,394 --> 00:43:40,750
that they wish there
was more collaboration1249
00:43:40,750 --> 00:43:42,520
between IV plus I1250
00:43:42,520 --> 00:43:43,810
guess I hate
saying that crazy,1251
00:43:43,810 --> 00:43:45,234
you know, Texas IV plus.1252
00:43:45,234 --> 00:43:47,020
I know. But yeah,1253
00:43:47,020 --> 00:43:48,625
if there are any
questions I'd love to1254
00:43:48,625 --> 00:43:51,799
answer. If not,
then we can.1255
00:43:52,380 --> 00:43:55,315
So if you have a question,
raise your hand.1256
00:43:55,315 --> 00:43:56,724
I'll bring the mic over,1257
00:43:56,724 --> 00:43:57,984
introduce yourselves.1258
00:43:57,984 --> 00:43:59,320
You can, you can practice1259
00:43:59,320 --> 00:44:01,000
your ten second
elevator pitch if1260
00:44:01,000 --> 00:44:02,949
you actually are in
the startup world1261
00:44:02,949 --> 00:44:04,900
and then pose
some questions to1262
00:44:04,900 --> 00:44:09,080
this panel.
Wants to start.1263
00:44:12,780 --> 00:44:14,439
Hello.1264
00:44:14,439 --> 00:44:16,180
My name is Ethan Montoya,1265
00:44:16,180 --> 00:44:17,664
Director of Product at a1266
00:44:17,664 --> 00:44:19,569
software company
here in Austin,1267
00:44:19,569 --> 00:44:21,925
and also an
entrepreneur myself.1268
00:44:21,925 --> 00:44:23,934
And my question is,1269
00:44:23,934 --> 00:44:26,590
what do you know if
any opportunities1270
00:44:26,590 --> 00:44:28,150
for the early
stages of funding1271
00:44:28,150 --> 00:44:29,679
and pre-seed for1272
00:44:29,679 --> 00:44:32,004
aspiring Princeton
entrepreneurs and desert.1273
00:44:32,004 --> 00:44:33,310
Anyone in that community1274
00:44:33,310 --> 00:44:34,300
that we should be
aware of others1275
00:44:34,300 --> 00:44:35,410
like Capital
Factory or where1276
00:44:35,410 --> 00:44:36,670
do you guys suggestions1277
00:44:36,670 --> 00:44:40,490
for those of us at
the earliest stages.1278
00:44:43,470 --> 00:44:48,590
You're sitting pretty
close to there.1279
00:44:50,550 --> 00:44:55,100
Early stage investing
turned around.1280
00:44:57,810 --> 00:45:07,249
We raised most majority
of some classmates.1281
00:45:08,160 --> 00:45:18,729
Friends of friends or1282
00:45:18,729 --> 00:45:29,009
anything else? Yeah.1283
00:45:41,040 --> 00:45:45,099
Yeah. As a person who
runs a venture fund,1284
00:45:45,099 --> 00:45:46,900
I would say I1285
00:45:46,900 --> 00:45:48,475
agree with his advice
wholeheartedly.1286
00:45:48,475 --> 00:45:49,929
I will always
take a call from1287
00:45:49,929 --> 00:45:50,919
the principal on even if1288
00:45:50,919 --> 00:45:52,074
it doesn't fit our thesis.1289
00:45:52,074 --> 00:45:53,350
And if we don't
have asked, I1290
00:45:53,350 --> 00:45:54,760
will be as helpful
as possible just1291
00:45:54,760 --> 00:45:57,130
because that's just the1292
00:45:57,130 --> 00:45:58,840
just the loyalty a
half to the network.1293
00:45:58,840 --> 00:46:00,399
And so I think he's right.1294
00:46:00,399 --> 00:46:02,470
If you take 100
meetings and you1295
00:46:02,470 --> 00:46:03,924
start with
Princeton Alumni,1296
00:46:03,924 --> 00:46:04,764
you'll, you know,1297
00:46:04,764 --> 00:46:07,329
I know very few prints
and VCs who won't at1298
00:46:07,329 --> 00:46:09,985
least answer the phone
anyway. Possible.1299
00:46:09,985 --> 00:46:12,889
So yeah.1300
00:46:16,300 --> 00:46:19,149
I was just going to
add that and then Jim,1301
00:46:19,149 --> 00:46:21,099
I'll let you add
to the comments.1302
00:46:21,099 --> 00:46:23,799
But PC is actually1303
00:46:23,799 --> 00:46:26,379
developed a really
powerful database.1304
00:46:26,379 --> 00:46:29,409
Now, most of the prints1305
00:46:29,409 --> 00:46:33,250
alumni in the ventral
world by specialty,1306
00:46:33,250 --> 00:46:34,705
by area of interest.1307
00:46:34,705 --> 00:46:37,150
And so if you
have questions,1308
00:46:37,150 --> 00:46:38,620
come to us as well.1309
00:46:38,620 --> 00:46:40,000
But Joel, who was one of1310
00:46:40,000 --> 00:46:42,280
the founding directors1311
00:46:42,280 --> 00:46:43,629
of prints alumni angels,1312
00:46:43,629 --> 00:46:45,985
that's a great
place as well.1313
00:46:45,985 --> 00:46:48,310
Not only does the request1314
00:46:48,310 --> 00:46:50,229
and then the pitch
for funding,1315
00:46:50,229 --> 00:46:53,440
but also is it with
the funding community?1316
00:46:53,440 --> 00:46:55,819
But Jimmy, you want
to add to that?1317
00:46:56,250 --> 00:46:58,029
I was just essay just1318
00:46:58,029 --> 00:46:59,155
like Marcus will
pretty much1319
00:46:59,155 --> 00:47:01,299
always take a call
from Princeton alarm.1320
00:47:01,299 --> 00:47:04,030
So we also have a group
of friends that fits.1321
00:47:04,030 --> 00:47:06,684
We call them it's 200
different alumni,1322
00:47:06,684 --> 00:47:08,679
mostly venture
capitalists and founders.1323
00:47:08,679 --> 00:47:09,969
And so if you're
looking at that list1324
00:47:09,969 --> 00:47:11,320
and you wanted
introductions,1325
00:47:11,320 --> 00:47:13,465
happy to make those
introductions.1326
00:47:13,465 --> 00:47:15,310
Scott, to your
point about how to1327
00:47:15,310 --> 00:47:17,439
organize something from
a grassroots level.1328
00:47:17,439 --> 00:47:19,869
We were involved,
sort of we do 15 of1329
00:47:19,869 --> 00:47:21,370
our 20 portfolio companies1330
00:47:21,370 --> 00:47:22,930
are based in New York.1331
00:47:22,930 --> 00:47:25,029
And there's a group,
obviously a very1332
00:47:25,029 --> 00:47:25,749
active group at1333
00:47:25,749 --> 00:47:27,249
Princeton alumnus
in New York.1334
00:47:27,249 --> 00:47:28,600
A couple of years
ago, we helped1335
00:47:28,600 --> 00:47:29,740
organize this
group we call1336
00:47:29,740 --> 00:47:32,155
the pint Princeton
in New York tech.1337
00:47:32,155 --> 00:47:35,289
And then it met
periodically.1338
00:47:35,289 --> 00:47:37,180
And then a version of it1339
00:47:37,180 --> 00:47:39,474
kind of evolved
even without us.1340
00:47:39,474 --> 00:47:42,220
One of our founders,
Genevieve Ryan Bel Air,1341
00:47:42,220 --> 00:47:43,330
does classical 11, runs1342
00:47:43,330 --> 00:47:44,634
a company called
real-world.1343
00:47:44,634 --> 00:47:45,820
She had one of our friends1344
00:47:45,820 --> 00:47:47,394
that fits for
pre-screened,1345
00:47:47,394 --> 00:47:48,729
who's probably the most1346
00:47:48,729 --> 00:47:51,145
active angel investor
in the country,1347
00:47:51,145 --> 00:47:52,780
hosted an event at1348
00:47:52,780 --> 00:47:55,899
his house or his
apartment is penthouse.1349
00:47:55,899 --> 00:47:58,420
And he's done quite well1350
00:47:58,420 --> 00:48:00,520
and invited all of1351
00:48:00,520 --> 00:48:02,365
these kinds of people,
all print Estonians,1352
00:48:02,365 --> 00:48:06,100
everybody from newbies
that we're working at,1353
00:48:06,100 --> 00:48:09,475
startups to founders to
venture capitalists.1354
00:48:09,475 --> 00:48:11,664
And it was just a
grassroots thing.1355
00:48:11,664 --> 00:48:12,580
I mean, Don It wasn't1356
00:48:12,580 --> 00:48:13,719
an organized
through Princeton,1357
00:48:13,719 --> 00:48:15,069
but it's the kind of thing1358
00:48:15,069 --> 00:48:16,809
where you form that group.1359
00:48:16,809 --> 00:48:18,594
And then people
can sort of1360
00:48:18,594 --> 00:48:20,530
alternate and host
events like that.1361
00:48:20,530 --> 00:48:22,030
So I think it's a good
idea. I'm kind kinda1362
00:48:22,030 --> 00:48:24,655
surprised that
doesn't exist here.1363
00:48:24,655 --> 00:48:26,345
We should come back more.1364
00:48:26,345 --> 00:48:27,939
We did one many years ago,1365
00:48:27,939 --> 00:48:29,425
we hosted an
event at a bar1366
00:48:29,425 --> 00:48:30,250
here in Austin and we1367
00:48:30,250 --> 00:48:31,299
got a pretty
good reception,1368
00:48:31,299 --> 00:48:34,570
but also happy to1369
00:48:34,570 --> 00:48:35,774
talk to anybody
who was raised in,1370
00:48:35,774 --> 00:48:38,090
who's looking to
raise capital.1371
00:48:46,260 --> 00:48:49,990
Hey, nor in class 2003,1372
00:48:49,990 --> 00:48:53,814
CEO and founder of
green tiger markets,1373
00:48:53,814 --> 00:48:55,479
My question for
the panel is,1374
00:48:55,479 --> 00:48:56,380
do you believe that1375
00:48:56,380 --> 00:48:58,670
entrepreneurship
can be taught?1376
00:48:59,370 --> 00:49:02,409
And I also took high-tech
entrepreneurship.1377
00:49:02,409 --> 00:49:11,005
So yes,1378
00:49:11,005 --> 00:49:13,430
I teach entrepreneurship.1379
00:49:13,650 --> 00:49:16,029
But it's a tricky
question, right?1380
00:49:16,029 --> 00:49:18,130
Because there's the
practicality of1381
00:49:18,130 --> 00:49:19,389
starting a business and1382
00:49:19,389 --> 00:49:20,650
going through
the experience.1383
00:49:20,650 --> 00:49:24,159
But I do think that
entrepreneurial mindset1384
00:49:24,159 --> 00:49:25,839
and being in a
community that1385
00:49:25,839 --> 00:49:27,639
encourages that and
really getting at1386
00:49:27,639 --> 00:49:29,710
the leadership aspect of1387
00:49:29,710 --> 00:49:31,345
being a strong leader.1388
00:49:31,345 --> 00:49:33,070
I think that's
really where1389
00:49:33,070 --> 00:49:35,185
formal education
can come in.1390
00:49:35,185 --> 00:49:37,600
And being in a structured
environment like1391
00:49:37,600 --> 00:49:38,769
higher education
that can bring in1392
00:49:38,769 --> 00:49:41,109
mentors and guest
lectures to share that.1393
00:49:41,109 --> 00:49:43,119
I think that's the
beauty of teaching as1394
00:49:43,119 --> 00:49:43,959
being able to have1395
00:49:43,959 --> 00:49:45,445
that atmosphere
and environment.1396
00:49:45,445 --> 00:49:48,565
But I do think I
don't have a startup.1397
00:49:48,565 --> 00:49:51,369
I'm an intrapreneur
within higher education.1398
00:49:51,369 --> 00:49:52,720
So I think also1399
00:49:52,720 --> 00:49:53,890
my responsibility is to1400
00:49:53,890 --> 00:49:55,360
disrupt higher education,1401
00:49:55,360 --> 00:49:56,755
to think more
entrepreneurial,1402
00:49:56,755 --> 00:49:57,819
especially when we look at1403
00:49:57,819 --> 00:49:59,769
COVID and higher
education,1404
00:49:59,769 --> 00:50:01,570
needing to think
more creatively,1405
00:50:01,570 --> 00:50:02,335
especially with1406
00:50:02,335 --> 00:50:03,609
certifications
that are coming1407
00:50:03,609 --> 00:50:06,640
out that are not attached
to an institution.1408
00:50:06,640 --> 00:50:08,169
So it's a tricky question.1409
00:50:08,169 --> 00:50:10,000
I think there's a benefit1410
00:50:10,000 --> 00:50:12,054
that higher
education can see.1411
00:50:12,054 --> 00:50:13,330
I think innovative1412
00:50:13,330 --> 00:50:14,740
universities that
are embracing,1413
00:50:14,740 --> 00:50:16,270
that are going to
be successful.1414
00:50:16,270 --> 00:50:18,040
I love hearing
that Princeton has1415
00:50:18,040 --> 00:50:19,794
an entrepreneurship
minor now1416
00:50:19,794 --> 00:50:21,070
because that's
really exciting.1417
00:50:21,070 --> 00:50:23,124
I agree it's probably1418
00:50:23,124 --> 00:50:25,225
should have happened
a long time ago.1419
00:50:25,225 --> 00:50:26,710
But I think at
the basis in1420
00:50:26,710 --> 00:50:28,330
building that
network and having1421
00:50:28,330 --> 00:50:29,559
pitch competitions and1422
00:50:29,559 --> 00:50:30,819
the stage to
practice on in1423
00:50:30,819 --> 00:50:33,489
a really safe place
to do that is1424
00:50:33,489 --> 00:50:35,259
actually a really
great role that1425
00:50:35,259 --> 00:50:36,880
higher education or any1426
00:50:36,880 --> 00:50:38,725
Institute of Learning
can provide.1427
00:50:38,725 --> 00:50:39,910
So I see it more in terms1428
00:50:39,910 --> 00:50:42,919
of that role in
entrepreneur.1429
00:50:44,400 --> 00:50:47,260
Yeah, I would say1430
00:50:47,260 --> 00:50:50,359
between success
and failure.1431
00:50:54,060 --> 00:50:57,555
Every little thing
that you make1432
00:50:57,555 --> 00:51:00,735
a really big difference.1433
00:51:00,735 --> 00:51:04,765
We went to Y Combinator
in Mountain View.1434
00:51:04,765 --> 00:51:06,099
I think.1435
00:51:06,099 --> 00:51:08,259
It's possible to have
you not done that,1436
00:51:08,259 --> 00:51:10,209
have not gotten there1437
00:51:10,209 --> 00:51:11,410
kind of education
which is mostly1438
00:51:11,410 --> 00:51:16,850
about I'm not sure we did.1439
00:51:18,660 --> 00:51:22,339
And there are so many
different skill sets.1440
00:51:23,400 --> 00:51:28,390
I haven't had to
do a contract.1441
00:51:28,390 --> 00:51:30,129
How did you
sales properly?1442
00:51:30,129 --> 00:51:31,209
And you are so many are1443
00:51:31,209 --> 00:51:32,709
so many different
skill sets.1444
00:51:32,709 --> 00:51:35,110
One person that she1445
00:51:35,110 --> 00:51:36,250
can make them a little bit1446
00:51:36,250 --> 00:51:37,569
more effective
through education,1447
00:51:37,569 --> 00:51:41,349
through one of
those things,1448
00:51:41,349 --> 00:51:43,120
reasonable enough
time to focus1449
00:51:43,120 --> 00:51:47,845
on accessibility.1450
00:51:47,845 --> 00:51:52,539
I think one of the
things that we learned,1451
00:51:52,539 --> 00:51:54,745
one of the things that1452
00:51:54,745 --> 00:51:58,180
was helping you identify1453
00:51:58,180 --> 00:52:01,285
the one or two things
really important.1454
00:52:01,285 --> 00:52:03,774
And then making
sure that anything1455
00:52:03,774 --> 00:52:06,230
that was like three
or four months,1456
00:52:06,690 --> 00:52:08,979
that was a tremendously,1457
00:52:08,979 --> 00:52:11,844
tremendously for
us to realize.1458
00:52:11,844 --> 00:52:13,510
Holy cow, you get
to the end of1459
00:52:13,510 --> 00:52:16,539
a 40% yellow and not
affecting anything is1460
00:52:16,539 --> 00:52:19,520
actually going to bring1461
00:52:20,880 --> 00:52:23,830
that person before
returning to that because1462
00:52:23,830 --> 00:52:26,259
that's really
what we're doing.1463
00:52:26,259 --> 00:52:27,280
All these things,
all these1464
00:52:27,280 --> 00:52:29,299
workers, all this work.1465
00:52:30,060 --> 00:52:37,460
It's not fun else.
Personally for fishing.1466
00:52:40,380 --> 00:52:48,409
Whether or not you
can build a product.1467
00:52:48,630 --> 00:52:58,464
You can definitely I
agree with boiling.1468
00:52:58,464 --> 00:53:00,130
I would say even as1469
00:53:00,130 --> 00:53:04,644
an investor and pasting1470
00:53:04,644 --> 00:53:06,400
hours or less
money required1471
00:53:06,400 --> 00:53:08,679
to make your best?1472
00:53:08,679 --> 00:53:11,530
I would say the most
healthfully and1473
00:53:11,530 --> 00:53:15,130
time ago was granted.1474
00:53:15,130 --> 00:53:18,849
I say valid name over
and over and bring1475
00:53:18,849 --> 00:53:20,634
them to know who1476
00:53:20,634 --> 00:53:22,989
is the CIO at
Princeton velvet.1477
00:53:22,989 --> 00:53:24,490
They just don't know.1478
00:53:24,490 --> 00:53:26,650
So I didn't know it
is what it is today.1479
00:53:26,650 --> 00:53:29,574
But you also have
AND tall guy.1480
00:53:29,574 --> 00:53:32,089
First time we
met, at least.1481
00:53:33,120 --> 00:53:36,160
You got it. Right.1482
00:53:36,160 --> 00:53:38,380
But, you know, it
was so helpful for1483
00:53:38,380 --> 00:53:41,169
us just to
dedicated province.1484
00:53:41,169 --> 00:53:42,279
I say six or seven weeks.1485
00:53:42,279 --> 00:53:46,360
Just just just
give it as like1486
00:53:46,360 --> 00:53:47,950
the benchmarks
and pencil inside1487
00:53:47,950 --> 00:53:50,830
the main investment by
managers and others.1488
00:53:50,830 --> 00:53:51,879
Let me everything
was done in1489
00:53:51,879 --> 00:53:53,755
repetitive often
university.1490
00:53:53,755 --> 00:53:56,214
And just those
tidbits of advice,1491
00:53:56,214 --> 00:53:59,689
wearing a gold
color until cows.1492
00:54:00,540 --> 00:54:06,169
You know, the mentorship
aspect of worship.1493
00:54:10,380 --> 00:54:13,449
By the way, Just
to comment on1494
00:54:13,449 --> 00:54:16,254
a couple of threads
of conversation here.1495
00:54:16,254 --> 00:54:18,805
That entrepreneurship
program,1496
00:54:18,805 --> 00:54:21,325
the minor in Princeton
now has 20 courses.1497
00:54:21,325 --> 00:54:23,020
We all, we all know
the high-tech course1498
00:54:23,020 --> 00:54:25,845
because you know
the sort of1499
00:54:25,845 --> 00:54:28,359
the godfather perhaps that1500
00:54:28,359 --> 00:54:31,449
many of you not
be enjoyed.1501
00:54:31,449 --> 00:54:34,030
But there are now
20 other courses,1502
00:54:34,030 --> 00:54:36,430
which is remarkable.1503
00:54:36,430 --> 00:54:39,430
Also just on the point
that Mark is desired.1504
00:54:39,430 --> 00:54:40,914
And Leslie
mentioned earlier,1505
00:54:40,914 --> 00:54:43,120
diverse entrepreneurship1506
00:54:43,120 --> 00:54:45,279
is a really
important theme1507
00:54:45,279 --> 00:54:47,845
of PEC at Princeton.1508
00:54:47,845 --> 00:54:50,649
To support
founders of color,1509
00:54:50,649 --> 00:54:52,150
female founders.1510
00:54:52,150 --> 00:54:55,119
We do a whole Tiger
talk series just1511
00:54:55,119 --> 00:54:57,430
featuring
founders who come1512
00:54:57,430 --> 00:54:59,979
from underrepresented
backgrounds.1513
00:54:59,979 --> 00:55:02,499
And a whole bunch of
start-up showcases,1514
00:55:02,499 --> 00:55:03,579
sometimes with1515
00:55:03,579 --> 00:55:05,589
some significant
dollars involved,1516
00:55:05,589 --> 00:55:07,314
including something called1517
00:55:07,314 --> 00:55:08,469
the Empower conference.1518
00:55:08,469 --> 00:55:09,789
I'm just going to
share it with you1519
00:55:09,789 --> 00:55:11,200
because this one focuses1520
00:55:11,200 --> 00:55:14,380
on underrepresented
academic entrepreneurs.1521
00:55:14,380 --> 00:55:17,185
So it's the faculty
and the postdocs,1522
00:55:17,185 --> 00:55:19,150
not only at
Princeton University1523
00:55:19,150 --> 00:55:21,400
across the country
in the world,1524
00:55:21,400 --> 00:55:23,395
including really,
really rich,1525
00:55:23,395 --> 00:55:25,120
like hundreds of
thousands of dollars of1526
00:55:25,120 --> 00:55:27,609
prize bunnies at a
pitch competition.1527
00:55:27,609 --> 00:55:29,170
And I1528
00:55:29,170 --> 00:55:32,859
think Michael, you
actually mentioned it.1529
00:55:32,859 --> 00:55:35,214
Harvard, MIT,1530
00:55:35,214 --> 00:55:36,849
and Stanford called me1531
00:55:36,849 --> 00:55:38,470
up and said, prints them.1532
00:55:38,470 --> 00:55:39,534
What are you guys doing?1533
00:55:39,534 --> 00:55:41,214
This is really impressive.1534
00:55:41,214 --> 00:55:43,374
Yeah, so we're
starting to work.1535
00:55:43,374 --> 00:55:44,094
By the way, we're,1536
00:55:44,094 --> 00:55:46,724
we're collaborating,
you know,1537
00:55:46,724 --> 00:55:47,890
collectively with some of1538
00:55:47,890 --> 00:55:49,600
our peer institutions
because it's really1539
00:55:49,600 --> 00:55:50,785
important to
be part of the1540
00:55:50,785 --> 00:55:52,389
ecosystem and only at1541
00:55:52,389 --> 00:55:55,209
Princeton but across
the, across the land.1542
00:55:55,209 --> 00:55:56,740
So I just add those
things before.1543
00:55:56,740 --> 00:55:58,810
Well, since the
question, can I give you1544
00:55:58,810 --> 00:56:01,269
a stat to backup
the diverse pieces?1545
00:56:01,269 --> 00:56:03,519
The importance
of that, because1546
00:56:03,519 --> 00:56:05,619
I like to have some
stats available.1547
00:56:05,619 --> 00:56:08,349
So on average,
companies with1548
00:56:08,349 --> 00:56:09,849
diverse leadership
teams report1549
00:56:09,849 --> 00:56:12,445
20% higher revenue
and innovation.1550
00:56:12,445 --> 00:56:14,499
And that's as of the World1551
00:56:14,499 --> 00:56:16,990
Economic Forum 2021 stats.1552
00:56:16,990 --> 00:56:18,489
So it's an impressive1553
00:56:18,489 --> 00:56:22,009
when someone had it. Yeah.1554
00:56:24,180 --> 00:56:26,335
Hey guys.1555
00:56:26,335 --> 00:56:29,574
Hey y'all, that's
more appropriate.1556
00:56:29,574 --> 00:56:33,100
I saw that was the best
pronoun ever made.1557
00:56:33,100 --> 00:56:35,289
But yeah, for one,1558
00:56:35,289 --> 00:56:36,625
just thanks for sharing1559
00:56:36,625 --> 00:56:38,679
all this experience
with us.1560
00:56:38,679 --> 00:56:42,385
My question for you
all is, what's next?1561
00:56:42,385 --> 00:56:43,419
Last time I was here,1562
00:56:43,419 --> 00:56:45,160
Data Science was
the hot word.1563
00:56:45,160 --> 00:56:46,900
Big data was the hot word.1564
00:56:46,900 --> 00:56:49,855
I know this week's
been super volatile.1565
00:56:49,855 --> 00:56:51,624
The last three years
have been crazy,1566
00:56:51,624 --> 00:56:52,915
but it just kinda curious,1567
00:56:52,915 --> 00:56:53,770
I know some of you all1568
00:56:53,770 --> 00:56:55,269
have your own endeavors.1569
00:56:55,269 --> 00:56:57,819
But those who have
more perspective on1570
00:56:57,819 --> 00:57:01,150
what's happening in
the space in general.1571
00:57:01,150 --> 00:57:04,479
Crypto had their
conference here in June.1572
00:57:04,479 --> 00:57:07,930
That week wasn't very
good for that industry.1573
00:57:07,930 --> 00:57:09,714
So just curious what
you all are seeing.1574
00:57:09,714 --> 00:57:11,110
And Ned, no judgment,1575
00:57:11,110 --> 00:57:15,325
but technology moves
very fast and just,1576
00:57:15,325 --> 00:57:16,990
yeah, I would
love to and maybe1577
00:57:16,990 --> 00:57:19,134
even open that up
to the audience.1578
00:57:19,134 --> 00:57:21,099
You know, people
who just have that,1579
00:57:21,099 --> 00:57:22,150
that breadth of1580
00:57:22,150 --> 00:57:24,639
perspective on
what's happening.1581
00:57:24,639 --> 00:57:26,949
Yeah. Well, I'm
happy to share1582
00:57:26,949 --> 00:57:28,149
curious what
you're seeing two,1583
00:57:28,149 --> 00:57:30,729
but the things that
got me really excited1584
00:57:30,729 --> 00:57:33,669
right now is like the
least sexy stuff.1585
00:57:33,669 --> 00:57:35,109
Like industrials.1586
00:57:35,109 --> 00:57:37,779
Like how are we
going to do nuclear?1587
00:57:37,779 --> 00:57:41,170
Really important1588
00:57:41,170 --> 00:57:44,319
foundational components
that we like,1589
00:57:44,319 --> 00:57:44,980
industries that1590
00:57:44,980 --> 00:57:46,600
haven't really
been disrupted.1591
00:57:46,600 --> 00:57:47,709
And I'm not saying
it's all gonna1592
00:57:47,709 --> 00:57:48,759
be software plays,1593
00:57:48,759 --> 00:57:50,425
but probably some form1594
00:57:50,425 --> 00:57:51,954
like a software, hardware.1595
00:57:51,954 --> 00:57:54,580
Like there's just
so much opportunity1596
00:57:54,580 --> 00:57:55,929
and it's so critical.1597
00:57:55,929 --> 00:57:57,489
So that's sort of
like what I think1598
00:57:57,489 --> 00:57:59,140
is really going to be1599
00:57:59,140 --> 00:58:03,190
a focus like hardcore,
really unsexy stuff.1600
00:58:03,190 --> 00:58:05,379
Maybe, maybe
railroads, right?1601
00:58:05,379 --> 00:58:08,169
Like railroad logistics.1602
00:58:08,169 --> 00:58:10,584
Not something
people are like1603
00:58:10,584 --> 00:58:13,299
probably the best area,1604
00:58:13,299 --> 00:58:14,859
but I think it's
interesting.1605
00:58:14,859 --> 00:58:21,415
So we invest in software,1606
00:58:21,415 --> 00:58:23,020
but I think the rise1607
00:58:23,020 --> 00:58:27,400
of conscious health
is becoming massive.1608
00:58:27,400 --> 00:58:29,439
So we're invested in1609
00:58:29,439 --> 00:58:31,089
a company called and just1610
00:58:31,089 --> 00:58:32,334
seeing him about folks and1611
00:58:32,334 --> 00:58:34,720
utilize or a
from 2,020.20,1612
00:58:34,720 --> 00:58:37,149
19 to now where
the rise of1613
00:58:37,149 --> 00:58:39,010
metabolic health
for the rise1614
00:58:39,010 --> 00:58:40,570
of breath work
and meditation.1615
00:58:40,570 --> 00:58:41,739
Some of that, you know,1616
00:58:41,739 --> 00:58:43,224
Tom Scott, I think,1617
00:58:43,224 --> 00:58:45,580
is just so massive
as people become1618
00:58:45,580 --> 00:58:47,079
more conscientious
about their health1619
00:58:47,079 --> 00:58:48,399
and started
taking for that.1620
00:58:48,399 --> 00:58:50,559
And I don't like to think1621
00:58:50,559 --> 00:58:52,779
that COVID played a
massive role in it,1622
00:58:52,779 --> 00:58:54,099
but I think just the
decentralization1623
00:58:54,099 --> 00:58:55,180
of knowledge towards1624
00:58:55,180 --> 00:58:56,169
these platforms with1625
00:58:56,169 --> 00:58:57,340
institutions and just how1626
00:58:57,340 --> 00:58:59,740
the failure healthcare has1627
00:58:59,740 --> 00:59:00,489
made people really1628
00:59:00,489 --> 00:59:01,750
interested in
these spaces.1629
00:59:01,750 --> 00:59:02,995
And I tell you,1630
00:59:02,995 --> 00:59:04,405
when you look
at the sector,1631
00:59:04,405 --> 00:59:05,469
we see these valuations1632
00:59:05,469 --> 00:59:06,640
of Sylvius
software companies1633
00:59:06,640 --> 00:59:07,659
wherever the1634
00:59:07,659 --> 00:59:08,889
human performance
kind of helped.1635
00:59:08,889 --> 00:59:11,515
And Wallace
valuations of just,1636
00:59:11,515 --> 00:59:12,265
you know, I know I've1637
00:59:12,265 --> 00:59:14,200
got price on these things.1638
00:59:14,200 --> 00:59:16,060
They have just
continued to1639
00:59:16,060 --> 00:59:17,469
rise and rise
and rise because1640
00:59:17,469 --> 00:59:18,759
you just see
so many people1641
00:59:18,759 --> 00:59:20,349
and I want to call it
the centromeres of bed.1642
00:59:20,349 --> 00:59:21,729
But I will say
timbres that play1643
00:59:21,729 --> 00:59:24,429
a big role in that,
in this space.1644
00:59:24,429 --> 00:59:27,325
And so that's what
I'm really excited.1645
00:59:27,325 --> 00:59:29,619
I'm voting for
knowledge economy.1646
00:59:29,619 --> 00:59:31,090
So I think
really investing1647
00:59:31,090 --> 00:59:32,439
in what people know and1648
00:59:32,439 --> 00:59:33,970
especially
encouraging students1649
00:59:33,970 --> 00:59:35,889
at business one-on-one,1650
00:59:35,889 --> 00:59:37,480
create an LLC about1651
00:59:37,480 --> 00:59:39,039
things that they
noted, consult on,1652
00:59:39,039 --> 00:59:40,840
especially
creatives valuing1653
00:59:40,840 --> 00:59:43,179
their art forums and
what they can do.1654
00:59:43,179 --> 00:59:44,740
And I think that's where1655
00:59:44,740 --> 00:59:46,614
I see this
next-generation going.1656
00:59:46,614 --> 00:59:47,830
And then I don't
know after that,1657
00:59:47,830 --> 00:59:49,674
but I'm going to
say investing in1658
00:59:49,674 --> 00:59:52,239
people's knowledge
and paying for1659
00:59:52,239 --> 00:59:56,540
their time, experience,
enthusiasm.1660
00:59:58,200 --> 01:00:01,704
Yeah. I think there's1661
01:00:01,704 --> 01:00:03,399
so many different
opportunities I1662
01:00:03,399 --> 01:00:04,960
can say what I'm
most interested1663
01:00:04,960 --> 01:00:07,674
is oriented around
a consciousness.1664
01:00:07,674 --> 01:00:11,049
I believe that we're in1665
01:00:11,049 --> 01:00:12,400
a revolution of1666
01:00:12,400 --> 01:00:14,709
the normalization
of psychedelics.1667
01:00:14,709 --> 01:00:16,689
And that's going to1668
01:00:16,689 --> 01:00:18,159
fundamentally
change how we1669
01:00:18,159 --> 01:00:20,334
think about mental health,1670
01:00:20,334 --> 01:00:23,799
physical health,
the nature of self.1671
01:00:23,799 --> 01:00:25,569
And so I think it's still1672
01:00:25,569 --> 01:00:27,835
early innings
and it's just,1673
01:00:27,835 --> 01:00:30,400
it's just gonna get
really exciting.1674
01:00:30,400 --> 01:00:36,050
I'll say if I was
starting a company today,1675
01:00:37,800 --> 01:00:39,865
the thing I would
think about is1676
01:00:39,865 --> 01:00:41,349
their COVID has changed1677
01:00:41,349 --> 01:00:43,029
our lives and some of
those changes are gonna1678
01:00:43,029 --> 01:00:44,725
be not so sticky.1679
01:00:44,725 --> 01:00:45,549
And some of those
changes are1680
01:00:45,549 --> 01:00:46,870
gonna be
incredibly sticky.1681
01:00:46,870 --> 01:00:48,219
And I think the
stickiest, I1682
01:00:48,219 --> 01:00:49,569
believe just1683
01:00:49,569 --> 01:00:51,685
the workplace is
fundamentally different.1684
01:00:51,685 --> 01:00:53,649
And I don't believe
it's gonna go1685
01:00:53,649 --> 01:00:55,689
back to the way
it was before.1686
01:00:55,689 --> 01:00:59,889
And so for us to
support our teams,1687
01:00:59,889 --> 01:01:02,200
over 300, for
us to support.1688
01:01:02,200 --> 01:01:05,155
Our member, wrote first.1689
01:01:05,155 --> 01:01:07,300
For us to support
that. We do not1690
01:01:07,300 --> 01:01:08,199
have all the tools that we1691
01:01:08,199 --> 01:01:09,159
need to properly do that.1692
01:01:09,159 --> 01:01:11,170
So they're gonna
be big companies1693
01:01:11,170 --> 01:01:12,954
built over the
next decade,1694
01:01:12,954 --> 01:01:15,474
founded over the next year1695
01:01:15,474 --> 01:01:18,595
that enable really,1696
01:01:18,595 --> 01:01:22,880
really good seamless
work from anywhere.1697
01:01:23,010 --> 01:01:27,889
Models. What's next
for our company?1698
01:01:29,820 --> 01:01:34,390
The most dramatic change1699
01:01:34,390 --> 01:01:37,419
in venture environments
that I've ever seen.1700
01:01:37,419 --> 01:01:40,029
I mean, it's,
it's completely1701
01:01:40,029 --> 01:01:42,829
eclipsed is what happened
early on on COVID.1702
01:01:44,490 --> 01:01:46,374
I'd love to hear from1703
01:01:46,374 --> 01:01:47,410
your guys perspective
on those,1704
01:01:47,410 --> 01:01:50,019
but what investors are1705
01:01:50,019 --> 01:01:51,430
looking for and how1706
01:01:51,430 --> 01:01:53,365
they are rebelling
when companies,1707
01:01:53,365 --> 01:01:57,549
and how they were thinking
about how to fund1708
01:01:57,549 --> 01:02:00,040
companies is completely
different today1709
01:02:00,040 --> 01:02:02,875
than it was in
January or February.1710
01:02:02,875 --> 01:02:06,009
And so the value of1711
01:02:06,009 --> 01:02:10,119
pure growth is
completely different.1712
01:02:10,119 --> 01:02:12,970
The value of
growth completely1713
01:02:12,970 --> 01:02:14,695
diminished and what is1714
01:02:14,695 --> 01:02:16,270
now valued the highest.1715
01:02:16,270 --> 01:02:16,689
And my,1716
01:02:16,689 --> 01:02:18,160
my impression you guys
are much closer to1717
01:02:18,160 --> 01:02:21,144
this is is
profitable growth.1718
01:02:21,144 --> 01:02:23,199
And so we are
going through it,1719
01:02:23,199 --> 01:02:23,860
but insignificant1720
01:02:23,860 --> 01:02:25,240
replenish his
eyes so that we1721
01:02:25,240 --> 01:02:28,359
can reshape our company1722
01:02:28,359 --> 01:02:29,500
around not just
growth goals,1723
01:02:29,500 --> 01:02:30,565
but growth goals with1724
01:02:30,565 --> 01:02:32,050
profitable birth goal is1725
01:02:32,050 --> 01:02:34,599
constrained by a path
to profitability.1726
01:02:34,599 --> 01:02:37,750
And that's a lot of
great. That means throat,1727
01:02:37,750 --> 01:02:38,349
all that stuff that you1728
01:02:38,349 --> 01:02:39,730
were working on yesterday,1729
01:02:39,730 --> 01:02:41,109
you're gonna be
working on new things.1730
01:02:41,109 --> 01:02:41,769
We're gonna be
working with1731
01:02:41,769 --> 01:02:43,209
Dr. towards new KPIs.1732
01:02:43,209 --> 01:02:44,349
There's going to be1733
01:02:44,349 --> 01:02:46,059
where you're trying
to build a culture1734
01:02:46,059 --> 01:02:49,614
around different
types of goals.1735
01:02:49,614 --> 01:02:51,280
And it's gonna be1736
01:02:51,280 --> 01:02:51,999
really interesting to see1737
01:02:51,999 --> 01:02:52,690
how that shakes out.1738
01:02:52,690 --> 01:02:54,820
I mean, I think button.1739
01:02:54,820 --> 01:02:56,560
The flip side
of that though1740
01:02:56,560 --> 01:02:58,929
is if I was an investor,1741
01:02:58,929 --> 01:03:00,834
I think it'd be
salivating right now.1742
01:03:00,834 --> 01:03:04,539
Because these are the
opportunities are,1743
01:03:04,539 --> 01:03:05,619
these are the time
as we gave you,1744
01:03:05,619 --> 01:03:08,319
if you look at
the companies1745
01:03:08,319 --> 01:03:09,729
that were built with 2000,1746
01:03:09,729 --> 01:03:10,749
2001 are found at1747
01:03:10,749 --> 01:03:11,439
that in the
companies that were1748
01:03:11,439 --> 01:03:14,815
founded in 28, 29, 2010,1749
01:03:14,815 --> 01:03:16,420
there seems to be
something special1750
01:03:16,420 --> 01:03:17,905
for companies that
are founded in1751
01:03:17,905 --> 01:03:20,859
downturns the muscle1752
01:03:20,859 --> 01:03:22,090
around capital efficiency,1753
01:03:22,090 --> 01:03:24,384
but that gives you, then,1754
01:03:24,384 --> 01:03:26,500
the only thing
that's true is that1755
01:03:26,500 --> 01:03:27,640
the longest runaway you're1756
01:03:27,640 --> 01:03:28,419
going to have between now1757
01:03:28,419 --> 01:03:31,219
and the next downturn
starts today.1758
01:03:33,330 --> 01:03:36,010
So, so yeah, so
those are the kinds1759
01:03:36,010 --> 01:03:37,810
of things that we're
thinking about.1760
01:03:37,810 --> 01:03:39,429
And I think this is
a really good time1761
01:03:39,429 --> 01:03:41,660
also for companies
like Boston.1762
01:03:43,770 --> 01:03:45,730
I have a question.1763
01:03:45,730 --> 01:03:47,079
How do you guys think1764
01:03:47,079 --> 01:03:48,804
about building your teams1765
01:03:48,804 --> 01:03:53,479
and pulling in print
Estonians at all levels.1766
01:03:58,440 --> 01:04:01,749
I, my, my answer to
that is we don't have1767
01:04:01,749 --> 01:04:05,629
nearly enough if
worth 300 people.1768
01:04:07,890 --> 01:04:13,119
That is true. I honestly1769
01:04:13,119 --> 01:04:15,859
think we could just
be doing a lot more.1770
01:04:16,080 --> 01:04:19,579
You don't recruit a
lot out of college.1771
01:04:21,870 --> 01:04:24,339
Dedicated from1772
01:04:24,339 --> 01:04:27,939
different alumni
community college.1773
01:04:27,939 --> 01:04:30,159
We don't have a
targeted strategy1774
01:04:30,159 --> 01:04:32,455
is the short answer.1775
01:04:32,455 --> 01:04:33,970
Can I say I don't,1776
01:04:33,970 --> 01:04:35,259
I don't think
it takes much1777
01:04:35,259 --> 01:04:38,079
so just from my
own experience,1778
01:04:38,079 --> 01:04:40,570
like I really
wanted to think1779
01:04:40,570 --> 01:04:41,935
about young talent1780
01:04:41,935 --> 01:04:43,089
from the Princeton
network,1781
01:04:43,089 --> 01:04:44,380
given a lot of1782
01:04:44,380 --> 01:04:46,509
the other top universities1783
01:04:46,509 --> 01:04:47,710
are reflected at my firm.1784
01:04:47,710 --> 01:04:48,969
And I was like this is an1785
01:04:48,969 --> 01:04:50,635
imbalance that I
need to correct.1786
01:04:50,635 --> 01:04:53,230
And we had an intern
come in lab this1787
01:04:53,230 --> 01:04:54,685
last summer from1788
01:04:54,685 --> 01:04:55,899
the class said,
What is this?1789
01:04:55,899 --> 01:04:59,245
2022. And he
was phenomenal,1790
01:04:59,245 --> 01:05:00,670
definitely
shouldn't be a VC.1791
01:05:00,670 --> 01:05:02,724
He is like writing
70-page theses1792
01:05:02,724 --> 01:05:04,164
left and right
and like okay,1793
01:05:04,164 --> 01:05:06,924
we need to get to
the blip first.1794
01:05:06,924 --> 01:05:08,080
Let's short
version, but he's1795
01:05:08,080 --> 01:05:09,580
amazing and brilliant guy.1796
01:05:09,580 --> 01:05:11,680
And instead of saying,1797
01:05:11,680 --> 01:05:13,315
Okay, you're not
meant to be a VC,1798
01:05:13,315 --> 01:05:15,190
have a good luck on
your next venture1799
01:05:15,190 --> 01:05:17,230
is we're seeing really
closely in touch.1800
01:05:17,230 --> 01:05:18,549
He's connected us to1801
01:05:18,549 --> 01:05:20,379
20 other students who are1802
01:05:20,379 --> 01:05:22,225
also really brilliant1803
01:05:22,225 --> 01:05:24,085
forging those connections.1804
01:05:24,085 --> 01:05:26,170
And they're
either going into1805
01:05:26,170 --> 01:05:28,645
our portfolio
companies right now or1806
01:05:28,645 --> 01:05:29,739
potentially
coming into the1807
01:05:29,739 --> 01:05:30,850
firm and it just took1808
01:05:30,850 --> 01:05:33,850
one and then it really
can trickle out.1809
01:05:33,850 --> 01:05:35,139
So I think not1810
01:05:35,139 --> 01:05:36,759
trying to feel like
there needs to be1811
01:05:36,759 --> 01:05:39,534
some massive
campaign to get it1812
01:05:39,534 --> 01:05:43,180
started that would
ultimately yield results.1813
01:05:43,180 --> 01:05:44,515
I think it's just
starting small1814
01:05:44,515 --> 01:05:46,300
and getting a couple
of connections1815
01:05:46,300 --> 01:05:48,280
going and let them
grow and nurture1816
01:05:48,280 --> 01:05:52,269
those who don't know.1817
01:05:52,269 --> 01:05:56,425
There is the entrepreneurship
club on campus.1818
01:05:56,425 --> 01:05:58,210
There's the Princeton1819
01:05:58,210 --> 01:06:00,204
entrepreneurship
club on campus.1820
01:06:00,204 --> 01:06:02,080
And the student body1821
01:06:02,080 --> 01:06:04,195
and participation
is significant.1822
01:06:04,195 --> 01:06:05,815
And a lot of
those students1823
01:06:05,815 --> 01:06:07,074
are looking to get1824
01:06:07,074 --> 01:06:08,409
their first
opportunity and1825
01:06:08,409 --> 01:06:10,449
experience working
with startups.1826
01:06:10,449 --> 01:06:12,040
So you can connect with1827
01:06:12,040 --> 01:06:13,899
that group and
see about having1828
01:06:13,899 --> 01:06:15,370
a student do a project for1829
01:06:15,370 --> 01:06:17,994
you or a remote
internship.1830
01:06:17,994 --> 01:06:20,830
And it's a great
way for them to get1831
01:06:20,830 --> 01:06:22,180
their foot in the
door and for you1832
01:06:22,180 --> 01:06:24,055
to leverage some
really smart talent.1833
01:06:24,055 --> 01:06:25,779
So I went in on that.1834
01:06:25,779 --> 01:06:27,490
I'm more interested in
the student peer to1835
01:06:27,490 --> 01:06:29,829
peer involvement
with Princeton and1836
01:06:29,829 --> 01:06:31,735
getting our Longhorns with1837
01:06:31,735 --> 01:06:32,829
tigers and seeing what1838
01:06:32,829 --> 01:06:34,734
comes from that.
So let's do it.1839
01:06:34,734 --> 01:06:37,689
Let's do it. By the way,1840
01:06:37,689 --> 01:06:39,865
it may not apply to
entrepreneurship.1841
01:06:39,865 --> 01:06:41,859
Princeton just
announced that every1842
01:06:41,859 --> 01:06:44,830
student that
wants to work at1843
01:06:44,830 --> 01:06:46,179
an internship with1844
01:06:46,179 --> 01:06:50,559
a social or civil
service component.1845
01:06:50,559 --> 01:06:52,959
So maybe it maybe
social impact and1846
01:06:52,959 --> 01:06:55,915
mission driven enterprises1847
01:06:55,915 --> 01:06:56,994
might fall into
that category.1848
01:06:56,994 --> 01:06:58,930
But principal
fund, new tire,1849
01:06:58,930 --> 01:07:02,245
internship, every
student, no limits.1850
01:07:02,245 --> 01:07:05,079
Just announced.
So pretty cool.1851
01:07:05,079 --> 01:07:06,220
One more question then I'm1852
01:07:06,220 --> 01:07:07,719
going to take a couple
of minutes to wrap up,1853
01:07:07,719 --> 01:07:09,909
and then I hope
everyone plants to stay1854
01:07:09,909 --> 01:07:13,040
for a nice little
reception afterwards.1855
01:07:14,460 --> 01:07:18,025
Brit cochlea 2016,1856
01:07:18,025 --> 01:07:21,415
also cottage and
rugby and football.1857
01:07:21,415 --> 01:07:23,140
Not really crushing1858
01:07:23,140 --> 01:07:25,225
the diversity
piece on my end.1859
01:07:25,225 --> 01:07:28,779
My question is, I
recently in the past,1860
01:07:28,779 --> 01:07:30,039
over the past year,
I've sort of gotten1861
01:07:30,039 --> 01:07:32,139
a new lens on
entrepreneurship.1862
01:07:32,139 --> 01:07:34,855
With a Princeton buddy.1863
01:07:34,855 --> 01:07:37,614
We started a software
company out of college.1864
01:07:37,614 --> 01:07:40,719
And my lens was for1865
01:07:40,719 --> 01:07:41,259
entrepreneurship1866
01:07:41,259 --> 01:07:43,254
was start a
software product,1867
01:07:43,254 --> 01:07:45,835
build it, raise VC
money, grow to the moon.1868
01:07:45,835 --> 01:07:49,360
And I've recently been1869
01:07:49,360 --> 01:07:51,279
getting more into
the search fund,1870
01:07:51,279 --> 01:07:54,114
entrepreneurship through
acquisition, world.1871
01:07:54,114 --> 01:07:55,359
Lauren chemical,
permission to1872
01:07:55,359 --> 01:07:57,010
not sexy stuff,1873
01:07:57,010 --> 01:07:59,320
trying to find
and also they're1874
01:07:59,320 --> 01:08:01,119
profitable or1875
01:08:01,119 --> 01:08:02,289
in business has been
around for a while.1876
01:08:02,289 --> 01:08:04,810
I've had profitable
growth or stability.1877
01:08:04,810 --> 01:08:06,519
And then how do
you come in,1878
01:08:06,519 --> 01:08:09,565
raised money
to acquire it?1879
01:08:09,565 --> 01:08:12,984
And it's already, it's
less sort of de-risk1880
01:08:12,984 --> 01:08:16,330
the start Starting piece1881
01:08:16,330 --> 01:08:17,754
because it's already
been profitable.1882
01:08:17,754 --> 01:08:20,889
So I guess I'm
just curious if if1883
01:08:20,889 --> 01:08:22,060
you-all have any
experience with1884
01:08:22,060 --> 01:08:23,049
the search model,1885
01:08:23,049 --> 01:08:24,040
how you make
that comparison.1886
01:08:24,040 --> 01:08:25,675
So the sort of
the traditional1887
01:08:25,675 --> 01:08:27,519
VC model and what if1888
01:08:27,519 --> 01:08:29,079
you've seen any of
that in Austin and1889
01:08:29,079 --> 01:08:32,060
within the Princeton
community specifically?1890
01:08:32,670 --> 01:08:34,690
I've seen it in Austin,1891
01:08:34,690 --> 01:08:36,744
but not in the
present community.1892
01:08:36,744 --> 01:08:38,650
So I'll just say1893
01:08:38,650 --> 01:08:40,389
that it's appellant
to your community.1894
01:08:40,389 --> 01:08:44,740
I happened to be you guys1895
01:08:44,740 --> 01:08:49,180
have I definitely have1896
01:08:49,180 --> 01:08:50,859
friends who've done this.1897
01:08:50,859 --> 01:08:53,259
And also friends who1898
01:08:53,259 --> 01:08:54,864
are kind of running mini,1899
01:08:54,864 --> 01:08:57,115
little mini PE
funds. And I think.1900
01:08:57,115 --> 01:08:58,869
Kinda exactly
what you said.1901
01:08:58,869 --> 01:09:00,549
You de-risk product
market fit.1902
01:09:00,549 --> 01:09:03,130
And it's one of1903
01:09:03,130 --> 01:09:04,659
the interesting
things I heard is1904
01:09:04,659 --> 01:09:08,950
that one of the
biggest opportunities1905
01:09:08,950 --> 01:09:12,025
in the next ten years
is gonna be the,1906
01:09:12,025 --> 01:09:15,220
you know, all
of our parents1907
01:09:15,220 --> 01:09:17,064
and people that run
small businesses1908
01:09:17,064 --> 01:09:19,359
are basically retiring and1909
01:09:19,359 --> 01:09:20,500
they don't have people to1910
01:09:20,500 --> 01:09:21,970
sell their businesses to.1911
01:09:21,970 --> 01:09:24,684
And we're like
this digital,1912
01:09:24,684 --> 01:09:27,039
digital native
generation that can1913
01:09:27,039 --> 01:09:28,390
take a lot of
those businesses1914
01:09:28,390 --> 01:09:30,190
over and do cool
things with them,1915
01:09:30,190 --> 01:09:31,435
like build technology
around them.1916
01:09:31,435 --> 01:09:33,669
So yeah, I don't
I don't know1917
01:09:33,669 --> 01:09:36,010
that there's any
prints and people,1918
01:09:36,010 --> 01:09:38,380
but there's
definitely like1919
01:09:38,380 --> 01:09:42,580
very specific entrepreneurs
that are really1920
01:09:42,580 --> 01:09:45,429
bullish on this that
you can find online1921
01:09:45,429 --> 01:09:47,439
and they're looking for1922
01:09:47,439 --> 01:09:49,615
operators and they're
looking there.1923
01:09:49,615 --> 01:09:51,100
You can model what
they're doing1924
01:09:51,100 --> 01:09:55,940
and probably find some
cool opportunities.1925
01:09:57,120 --> 01:10:00,160
Yeah, I actually have,1926
01:10:00,160 --> 01:10:01,510
and I'm working with1927
01:10:01,510 --> 01:10:04,464
three alumni who have1928
01:10:04,464 --> 01:10:06,940
been successful
in the ETA,1929
01:10:06,940 --> 01:10:07,840
the entrepreneurship1930
01:10:07,840 --> 01:10:09,250
through acquisition model.1931
01:10:09,250 --> 01:10:12,219
And we're gonna do a
virtual Tiger talks1932
01:10:12,219 --> 01:10:13,945
because we think there's,1933
01:10:13,945 --> 01:10:15,070
no one is concentrated1934
01:10:15,070 --> 01:10:16,360
anywhere geographically.1935
01:10:16,360 --> 01:10:18,984
And so hopefully
in the spring,1936
01:10:18,984 --> 01:10:20,109
be able to have1937
01:10:20,109 --> 01:10:21,730
a good conversation
about that1938
01:10:21,730 --> 01:10:23,919
and explore in
greater detail too.1939
01:10:23,919 --> 01:10:25,495
It's a very
timely question.1940
01:10:25,495 --> 01:10:26,829
And it's another face1941
01:10:26,829 --> 01:10:28,910
of entrepreneurship right?1942
01:10:29,370 --> 01:10:34,630
Before, before we
enjoy food and drink.1943
01:10:34,630 --> 01:10:37,420
And before I thank
the panel district,1944
01:10:37,420 --> 01:10:39,324
just a couple of
other comments.1945
01:10:39,324 --> 01:10:41,229
This is great because1946
01:10:41,229 --> 01:10:42,189
it brings people together.1947
01:10:42,189 --> 01:10:43,644
Scott mentioned
it earlier.1948
01:10:43,644 --> 01:10:45,504
In person. There's
no substitute.1949
01:10:45,504 --> 01:10:46,960
It's really cool again,1950
01:10:46,960 --> 01:10:50,125
this is not an
advertisement for PEC,1951
01:10:50,125 --> 01:10:52,209
but it's an
advertisement for1952
01:10:52,209 --> 01:10:54,564
the power of the
alumni network.1953
01:10:54,564 --> 01:10:56,184
We've been to Boston,1954
01:10:56,184 --> 01:10:57,729
New York countless times,1955
01:10:57,729 --> 01:10:59,995
Philadelphia,
Washington DC,1956
01:10:59,995 --> 01:11:06,294
Atlanta, cargo,
LA, San Francisco.1957
01:11:06,294 --> 01:11:08,680
I'm probably a
couple of studies.1958
01:11:08,680 --> 01:11:10,914
It's great. Finally
to come to Austin.1959
01:11:10,914 --> 01:11:12,519
It won't be the last time.1960
01:11:12,519 --> 01:11:16,090
And with the involvement1961
01:11:16,090 --> 01:11:18,100
of the Princeton
Club of Boston,1962
01:11:18,100 --> 01:11:19,810
I know just be the start.1963
01:11:19,810 --> 01:11:21,010
But it's great to have1964
01:11:21,010 --> 01:11:23,454
these opportunities
to connect.1965
01:11:23,454 --> 01:11:25,210
And as always, right,1966
01:11:25,210 --> 01:11:27,219
this is just the start
of the conversation,1967
01:11:27,219 --> 01:11:29,290
much like what Jim Cohen1968
01:11:29,290 --> 01:11:31,059
mentioned that
occurred in New York1969
01:11:31,059 --> 01:11:34,089
recently at a at a
penthouse is bigger than1970
01:11:34,089 --> 01:11:37,690
my house in New Jersey.1971
01:11:37,690 --> 01:11:39,714
But with that,1972
01:11:39,714 --> 01:11:41,980
Joel and Morison, were
you also come up here?1973
01:11:41,980 --> 01:11:51,759
I want to thank Momento.1974
01:11:51,759 --> 01:11:53,229
And actually you could
probably unwrap these1975
01:11:53,229 --> 01:11:55,270
and have a glass of
wine in them too.1976
01:11:55,270 --> 01:11:56,829
But let me thank1977
01:11:56,829 --> 01:12:00,700
this esteemed panel
for sharing insights.1978
01:12:00,700 --> 01:12:02,889
My job is easy
because there's1979
01:12:02,889 --> 01:12:05,574
almost no alarm
that I don't call.1980
01:12:05,574 --> 01:12:07,584
It almost
instantly say yes,1981
01:12:07,584 --> 01:12:09,040
as long as you know his1982
01:12:09,040 --> 01:12:10,839
or her schedule permits.1983
01:12:10,839 --> 01:12:12,910
So it's always wonderful1984
01:12:12,910 --> 01:12:14,949
to have the panelists,1985
01:12:14,949 --> 01:12:16,509
but also the audience.1986
01:12:16,509 --> 01:12:19,989
So as a token of our
appreciation of PEC,1987
01:12:19,989 --> 01:12:22,910
just let me hand
down a small gift.1988
01:12:32,850 --> 01:12:35,150
Finally.