1
00:00:02,990 --> 00:00:05,339
Alright, so great to see

2
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, president

4
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 doing

6
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 and

8
00:00:16,620 --> 00:00:17,985
Entrepreneurship Council,

9
00:00:17,985 --> 00:00:19,109
Don and his colleague

10
00:00:19,109 --> 00:00:20,699
Dianne back at
campus have helped

11
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 is

15
00:00:26,910 --> 00:00:27,930
going to
kick-start lots of

16
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 about

18
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 is

20
00:00:41,060 --> 00:00:42,439
Joel Rao and I'm

21
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 Area

23
00:00:47,360 --> 00:00:49,459
where we started what

24
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 to

26
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 and

28
00:00:59,360 --> 00:01:01,669
met a lot of people have

29
00:01:01,669 --> 00:01:03,619
really expanded my
Princeton networks

30
00:01:03,619 --> 00:01:04,880
such that I now consider

31
00:01:04,880 --> 00:01:06,470
most of my Princeton
friends to be

32
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 to

35
00:01:12,410 --> 00:01:14,090
Marissa and asked
if I could get

36
00:01:14,090 --> 00:01:15,710
involved and help organize

37
00:01:15,710 --> 00:01:17,225
similar events here.

38
00:01:17,225 --> 00:01:19,639
The things of dawn and
the folks on campus,

39
00:01:19,639 --> 00:01:20,750
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 events

42
00:01:25,940 --> 00:01:27,875
if you have ideas for

43
00:01:27,875 --> 00:01:30,049
hosting events or topics

44
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 is

46
00:01:35,465 --> 00:01:37,415
Princeton Alumni angels is

47
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 get

49
00:01:44,179 --> 00:01:45,800
together to help back for

50
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 do

54
00:01:54,514 --> 00:01:56,330
a watch party and
discuss some of

55
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 contact

57
00:02:02,164 --> 00:02:04,340
either Marissa or
I if you want to

58
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 and

60
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 call

65
00:02:21,140 --> 00:02:22,340
from the
President's office

66
00:02:22,340 --> 00:02:23,840
saying we're
started something

67
00:02:23,840 --> 00:02:24,110
called

68
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 to

70
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 is

74
00:02:36,830 --> 00:02:38,420
the mission for
many of you

75
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 talk

78
00:02:46,670 --> 00:02:48,290
about that ecosystem and

79
00:02:48,290 --> 00:02:50,749
the programming
and activities

80
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 friends

85
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 happy

87
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 there

89
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 slide

91
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 in

93
00:03:26,600 --> 00:03:27,830
the crowd and folks

94
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 is

96
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 was

98
00:03:35,540 --> 00:03:37,280
very little
entrepreneurial

99
00:03:37,280 --> 00:03:38,824
activity on campus.

100
00:03:38,824 --> 00:03:40,790
There was no spin outs

101
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 opportunities

103
00:03:45,259 --> 00:03:46,460
for undergrads or

104
00:03:46,460 --> 00:03:47,840
grads to

105
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 has

108
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 at

110
00:03:59,690 --> 00:04:01,099
a bunch of other
organizations

111
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 of

113
00:04:05,510 --> 00:04:09,364
more recent alumni years

114
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 metals

116
00:04:14,720 --> 00:04:16,009
environmental institute

117
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 work

119
00:04:19,099 --> 00:04:21,170
very collaboratively
to try

120
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 is

122
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 spin

124
00:04:34,339 --> 00:04:36,350
outs a year from faculty

125
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 is

127
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 phenomenally

131
00:04:51,650 --> 00:04:53,089
powerful and has

132
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 are

135
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 to

140
00:05:06,079 --> 00:05:08,270
Stanford and Harvard
and MIT just

141
00:05:08,270 --> 00:05:09,905
for the lack of

142
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 all

145
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 now

152
00:05:34,279 --> 00:05:35,150
available if you're

153
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 to

155
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 position

159
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 is

162
00:05:53,180 --> 00:05:54,919
the Inaugural Vice Dean of

163
00:05:54,919 --> 00:05:56,179
innovation and a gentleman

164
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 by

166
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 lot

171
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 just

173
00:06:17,959 --> 00:06:19,520
highlighted all
the ways you

174
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, quite

177
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 funding

179
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 or

182
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 get

184
00:06:41,630 --> 00:06:43,159
involved in the
programming that

185
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 and

187
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 and

191
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 touch

193
00:06:58,834 --> 00:07:00,170
and raise your hand

194
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 of

198
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 and

200
00:07:13,430 --> 00:07:15,440
deeply involved in
that space myself for

201
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 out

205
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 in

207
00:07:32,450 --> 00:07:33,740
the next couple of months

208
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 be

216
00:07:47,089 --> 00:07:48,439
coming back for one of

217
00:07:48,439 --> 00:07:49,910
your majors or just

218
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 Friday

220
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 to

223
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 take

226
00:08:07,940 --> 00:08:09,050
your seats there
are there are

227
00:08:09,050 --> 00:08:11,210
little microphones
on your chairs

228
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 can

230
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 who

233
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 football

241
00:09:01,564 --> 00:09:03,049
was fired up about
our big victory

242
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 of

244
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 on

246
00:09:08,509 --> 00:09:09,679
path for another I really

247
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 just

251
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 with

253
00:09:23,495 --> 00:09:25,385
ABC as an investor

254
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 called

258
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 at

262
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 played

264
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 second

266
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 programs

273
00:10:32,210 --> 00:10:33,559
hadn't really started up

274
00:10:33,559 --> 00:10:35,990
while I was in

275
00:10:35,990 --> 00:10:36,949
college there it sounds

276
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 is

282
00:10:55,189 --> 00:10:56,749
it's the largest platform

283
00:10:56,749 --> 00:10:58,550
connecting consumers
to financial advisor

284
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 about

286
00:11:02,030 --> 00:11:05,479
as big audience of

287
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 real

289
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 of

291
00:11:13,309 --> 00:11:14,450
people who are
universal claims

292
00:11:14,450 --> 00:11:16,730
content tools,
calculators.

293
00:11:16,730 --> 00:11:18,484
This month we'll probably

294
00:11:18,484 --> 00:11:19,940
6,070 million uniques.

295
00:11:19,940 --> 00:11:21,980
And you guys are

296
00:11:21,980 --> 00:11:22,819
business model was to

297
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 the

302
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 in

304
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 was

306
00:11:49,340 --> 00:11:50,929
a process but trying

307
00:11:50,929 --> 00:11:51,619
to figure out
what's going to

308
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 after

311
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 to

313
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 really

315
00:12:04,640 --> 00:12:07,190
surprised at how
bad it was about

316
00:12:07,190 --> 00:12:09,020
a content wasn't a
little good health

317
00:12:09,020 --> 00:12:12,170
or for consumers
into the ATM for

318
00:12:12,170 --> 00:12:16,610
building for better
financial transparency

319
00:12:16,610 --> 00:12:21,379
to everybody in finance,

320
00:12:21,379 --> 00:12:22,500
that's

321
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 ecosystem

324
00:12:37,129 --> 00:12:38,270
and other entrepreneurs
because there

325
00:12:38,270 --> 00:12:40,130
was more than like
built at the time

326
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 alumni

328
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 and

330
00:12:50,180 --> 00:12:50,945
go through your
head at all

331
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 or

334
00:13:04,640 --> 00:13:06,200
acquaintances or
friends of friends or

335
00:13:06,200 --> 00:13:10,069
another network.

336
00:13:10,069 --> 00:13:18,980
Every network itself has

337
00:13:18,980 --> 00:13:20,870
been really,
really valuable.

338
00:13:20,870 --> 00:13:22,280
I wish

339
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 guess

343
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 million

345
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 built

348
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 had

350
00:13:42,200 --> 00:13:43,640
that type of
reachability and

351
00:13:43,640 --> 00:13:45,020
that skill had
you bolted in

352
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 today

358
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 here

361
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 have

365
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've

367
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 principally

373
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 alumni

375
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 I

377
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 at

379
00:15:27,290 --> 00:15:29,450
the second-largest
sports agency

380
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 really

382
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 Alumni

388
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 Teal

393
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 with

395
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 of

397
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 I

401
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 and

404
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 like

408
00:16:30,994 --> 00:16:32,240
desperate to just break

409
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 on

411
00:16:36,860 --> 00:16:39,110
me to New York
and I was kinda

412
00:16:39,110 --> 00:16:41,239
my break into tech

413
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 not

415
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 of

418
00:16:55,985 --> 00:16:59,300
Princeton story for the

419
00:16:59,300 --> 00:17:00,440
religious like
launch me and

420
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 eventually

423
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 to

425
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 recent

428
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 is

432
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 prove

434
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 lot

436
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 are

439
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 who

441
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'm

443
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 company

446
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 sold

448
00:17:53,419 --> 00:17:55,054
his last business to

449
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 of

451
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 business

455
00:18:06,650 --> 00:18:10,160
of how these
people going out

456
00:18:10,160 --> 00:18:11,255
to stores and

457
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 where

461
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 that

463
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 and

465
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 if

469
00:18:32,600 --> 00:18:34,400
updating a CRM was

470
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 have

473
00:18:38,720 --> 00:18:42,004
a natural language
type instrumentation

474
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 had

478
00:18:53,960 --> 00:18:55,384
all these people
that we were

479
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 CRMs

481
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 just

483
00:19:04,790 --> 00:19:06,110
do this in slack?

484
00:19:06,110 --> 00:19:06,860
And that was like

485
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 not

488
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 use

490
00:19:16,010 --> 00:19:17,120
their applications from

491
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 of

493
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 talking

497
00:19:30,799 --> 00:19:34,939
about messaging
and slack being

498
00:19:34,939 --> 00:19:37,700
the engagement layer for

499
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 product

501
00:19:45,259 --> 00:19:46,790
and built that category

502
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 reinvent

507
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 been

509
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 focused

512
00:20:08,630 --> 00:20:10,939
on making that vision

513
00:20:10,939 --> 00:20:13,489
a reality with our
product and also

514
00:20:13,489 --> 00:20:14,510
rolling our product out

515
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 believe

519
00:20:21,740 --> 00:20:23,270
the Princeton
student experience

520
00:20:23,270 --> 00:20:24,470
could benefit from

521
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 had

525
00:20:34,759 --> 00:20:36,109
these options
and excitement

526
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 I

529
00:20:39,954 --> 00:20:41,419
remember is that
the founder of

530
00:20:41,419 --> 00:20:42,769
Under Armour came
to campus and

531
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 so

533
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 of

537
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 went

540
00:21:00,680 --> 00:21:02,030
and did their
finance interview

541
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 like

543
00:21:05,090 --> 00:21:07,430
this pressure
and idea that

544
00:21:07,430 --> 00:21:09,710
like you were
successful or

545
00:21:09,710 --> 00:21:10,880
you were cool If

546
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 is

549
00:21:21,739 --> 00:21:24,845
just more engaging
events that

550
00:21:24,845 --> 00:21:26,270
share with people
that there's

551
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 way

553
00:21:31,490 --> 00:21:33,410
that you can have

554
00:21:33,410 --> 00:21:35,480
a really enriching
career that works with

555
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 know

557
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 just

559
00:21:45,830 --> 00:21:48,770
sparking people's
curiosity to think

560
00:21:48,770 --> 00:21:51,800
outside the box and
get them excited

561
00:21:51,800 --> 00:21:54,004
about being involved in

562
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 and

566
00:22:00,949 --> 00:22:02,149
played a pretty
significant role

567
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 of

569
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 know

571
00:22:07,640 --> 00:22:08,930
that about the
relationship between

572
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 as

578
00:22:22,399 --> 00:22:24,949
an entrepreneurial bug
because I was really

579
00:22:24,949 --> 00:22:26,270
risk averse and I

580
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 startups

584
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 into

586
00:22:40,595 --> 00:22:43,160
an earlier phase
organization

587
00:22:43,160 --> 00:22:43,534
where I can have

588
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-all

594
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 class

601
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 salsa

606
00:23:16,550 --> 00:23:18,229
dancing competition
in around

607
00:23:18,229 --> 00:23:20,089
South America and
he was like working

608
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 companies

612
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 in

614
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 done

617
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 do

620
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 years

624
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 about

627
00:23:52,100 --> 00:23:53,269
this class that
people took and I

628
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 to

630
00:23:56,479 --> 00:23:58,070
this class and
told everybody

631
00:23:58,070 --> 00:23:59,629
about this like magic

632
00:23:59,629 --> 00:24:00,829
mushroom to take whatever

633
00:24:00,829 --> 00:24:02,329
the bunch of
students took it can

634
00:24:02,329 --> 00:24:03,109
help all of
their tests and

635
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 class

637
00:24:08,450 --> 00:24:09,110
because I didn't not

638
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 the

640
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 in

643
00:24:21,274 --> 00:24:22,670
what you're going
to palettes here in

644
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 and

648
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 billion

650
00:24:35,000 --> 00:24:36,185
assets under management.

651
00:24:36,185 --> 00:24:38,269
And I joined actually

652
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 end

656
00:24:48,079 --> 00:24:49,835
of 2021 where
these frothy,

657
00:24:49,835 --> 00:24:51,079
frothy evaluations

658
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 of

661
00:24:59,539 --> 00:25:00,709
runway and it turned out

662
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 2019

664
00:25:04,879 --> 00:25:07,070
went through the gut
wrenching exercise

665
00:25:07,070 --> 00:25:09,890
of to do to

666
00:25:09,890 --> 00:25:11,180
survive that or is there

667
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 he

669
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 of

673
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 spot

678
00:25:32,299 --> 00:25:33,259
where you're going
to have to tighten

679
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 was

681
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 would

684
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 obviously

686
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 believe

688
00:25:54,920 --> 00:25:56,719
Austin exemplifies some of

689
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 with

696
00:26:10,355 --> 00:26:12,230
is there is just

697
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 me

700
00:26:17,239 --> 00:26:18,814
so much excitement at Hope

701
00:26:18,814 --> 00:26:20,690
is the dielectric that

702
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 from

704
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 far

706
00:26:28,940 --> 00:26:30,019
right and you can

707
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 people

711
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 place

713
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 to

715
00:26:45,680 --> 00:26:48,020
take advantage of
all the good ideas

716
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 like

718
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 as

720
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 now

722
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 ecosystem

725
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 press

727
00:27:03,470 --> 00:27:04,939
coverage gap was Have you

728
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 think

733
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 like

737
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 been

739
00:27:27,859 --> 00:27:29,615
a wonderful place
and there is

740
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 compared

744
00:27:37,460 --> 00:27:38,615
to like in Princeton and

745
00:27:38,615 --> 00:27:39,769
the East Coast vibe was

746
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 think

748
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 and

751
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 about

753
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 about

755
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 question

757
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 in

762
00:28:18,169 --> 00:28:19,775
the Davis
International Center,

763
00:28:19,775 --> 00:28:22,310
really welcoming
international students

764
00:28:22,310 --> 00:28:23,450
from all over the world

765
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 in

767
00:28:27,994 --> 00:28:29,869
adjusting International's

768
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 really

772
00:28:39,755 --> 00:28:41,540
finding the gaps
and the holes and

773
00:28:41,540 --> 00:28:43,550
what international
students were seen as

774
00:28:43,550 --> 00:28:45,019
challenges to that and

775
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 in

777
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 UT

779
00:28:52,865 --> 00:28:54,230
is creating a program

780
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 that

782
00:28:56,990 --> 00:28:58,535
the Kendra Scott Women's

783
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 and

786
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 start

788
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 and

792
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 into

794
00:29:14,629 --> 00:29:16,429
the 100 plus things that

795
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 if

797
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 and

799
00:29:23,329 --> 00:29:25,249
representation
is so important.

800
00:29:25,249 --> 00:29:27,350
So with that, actually

801
00:29:27,350 --> 00:29:29,270
have been able to have
a faculty appointment

802
00:29:29,270 --> 00:29:31,459
at McCombs to co-create

803
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 really

805
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 competencies

807
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 to

809
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 and

811
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 I

813
00:29:51,094 --> 00:29:52,429
love so much working

814
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 intersection

816
00:29:55,700 --> 00:29:57,199
between the global mindset

817
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, because

820
00:30:02,060 --> 00:30:03,905
k is valley has
the mission to

821
00:30:03,905 --> 00:30:05,480
empower women to lead

822
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 years

824
00:30:09,440 --> 00:30:10,519
because we just launched,

825
00:30:10,519 --> 00:30:11,689
we consider ourselves a

826
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 Indonesia

828
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 get

830
00:30:19,579 --> 00:30:21,500
that global
perspective into

831
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 happens

833
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 thinking

838
00:30:33,169 --> 00:30:35,030
about Princeton
is that you

839
00:30:35,030 --> 00:30:36,500
get so much diversity

840
00:30:36,500 --> 00:30:37,970
of discipline
when you're in

841
00:30:37,970 --> 00:30:39,335
the different colleges

842
00:30:39,335 --> 00:30:40,639
that we've replicated that

843
00:30:40,639 --> 00:30:42,200
with classes
that are open to

844
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 with

846
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 Arts

849
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 where

851
00:30:55,940 --> 00:30:57,950
you're on a team

852
00:30:57,950 --> 00:30:58,669
with students of

853
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 have

855
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 major

857
00:31:04,819 --> 00:31:06,709
coming up with the
class project that

858
00:31:06,709 --> 00:31:08,404
then gets them part

859
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 about

861
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 you

863
00:31:14,810 --> 00:31:16,880
get to be
alongside students

864
00:31:16,880 --> 00:31:19,730
from all different majors
to be able to have

865
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's

867
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 of

869
00:31:28,699 --> 00:31:30,229
the most successful
entrepreneurs

870
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 on

873
00:31:37,549 --> 00:31:39,995
the UT ecosystem from
which you've seen

874
00:31:39,995 --> 00:31:41,855
in the texts ecosystem

875
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 left

879
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 true

881
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 case

883
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 about

886
00:32:05,675 --> 00:32:06,859
Kendra Scott and the

887
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 of

889
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 is

892
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 actually

894
00:32:18,739 --> 00:32:20,299
the biggest
philanthropic gift back

895
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 empower

897
00:32:24,440 --> 00:32:26,299
this next generation of

898
00:32:26,299 --> 00:32:27,709
women leaders because she

899
00:32:27,709 --> 00:32:28,819
had so many challenges

900
00:32:28,819 --> 00:32:30,260
when she was starting to

901
00:32:30,260 --> 00:32:31,700
raise capital for

902
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 has

905
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 of

907
00:32:40,729 --> 00:32:42,500
practice in the College
of Fine Arts and

908
00:32:42,500 --> 00:32:43,700
teaches a course with

909
00:32:43,700 --> 00:32:45,080
Jan Ryan focused

910
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
perspective

913
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 exists

915
00:32:51,769 --> 00:32:52,669
today just doesn't

916
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've

921
00:33:00,860 --> 00:33:01,790
been able to do is

922
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
entrepreneurship

924
00:33:05,180 --> 00:33:06,304
specialization

925
00:33:06,304 --> 00:33:07,790
within the
Entrepreneurship minor

926
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 has

928
00:33:11,419 --> 00:33:12,709
four courses that

929
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 in

932
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, but

934
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 doing

937
00:33:28,010 --> 00:33:29,780
research for my
dissertation actually on

938
00:33:29,780 --> 00:33:31,775
gender aware
approaches to teaching

939
00:33:31,775 --> 00:33:33,965
entrepreneurship
education and how

940
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 about

943
00:33:40,970 --> 00:33:43,370
the kinda Scots and
the social impact and

944
00:33:43,370 --> 00:33:44,750
social entrepreneurship
and that

945
00:33:44,750 --> 00:33:46,939
give back women naturally

946
00:33:46,939 --> 00:33:48,770
create that with
their businesses at

947
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 accounted

949
00:33:52,849 --> 00:33:53,959
into a return on

950
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 trying

952
00:33:56,659 --> 00:33:57,859
to understand how to

953
00:33:57,859 --> 00:34:00,080
quantify that
social impact

954
00:34:00,080 --> 00:34:01,729
that give back if

955
00:34:01,729 --> 00:34:03,109
you take any of
the classes and

956
00:34:03,109 --> 00:34:04,580
the women entrepreneurship
and you see

957
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 of

959
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 is

962
00:34:16,310 --> 00:34:17,960
getting created now at

963
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 probably

967
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 job

971
00:34:34,370 --> 00:34:37,115
of supporting
the institution.

972
00:34:37,115 --> 00:34:38,359
So I guess to

973
00:34:38,359 --> 00:34:39,140
the last point you just

974
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 think

978
00:34:46,129 --> 00:34:47,300
the elite
institutions like

979
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
presently

981
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 play

984
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 you

986
00:34:59,810 --> 00:35:01,369
believe along like to

987
00:35:01,369 --> 00:35:03,019
play a more
catalytic effect

988
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 practices

990
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 and

992
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 like

995
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 if

1000
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 world

1002
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 are

1005
00:35:34,954 --> 00:35:37,069
closer in age and
experience to

1006
00:35:37,069 --> 00:35:39,379
see that successful woman

1007
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 been

1009
00:35:42,499 --> 00:35:44,719
the magic of what
we've seen at k as

1010
00:35:44,719 --> 00:35:46,939
valley and really
engaging students

1011
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 valleys

1013
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
organizations

1016
00:35:56,600 --> 00:35:57,589
to students as much as

1017
00:35:57,589 --> 00:35:58,669
they can or running

1018
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 that

1020
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 in

1023
00:36:05,300 --> 00:36:06,409
a way that now they

1024
00:36:06,409 --> 00:36:07,459
have a group of friends to

1025
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 really

1028
00:36:12,949 --> 00:36:14,899
the truest finding that

1029
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 do

1031
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 met

1033
00:36:21,499 --> 00:36:22,624
a couple of students

1034
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 internship

1036
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 know

1038
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 largest

1042
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 because

1044
00:36:35,210 --> 00:36:36,109
I think Princeton could do

1045
00:36:36,109 --> 00:36:37,205
a better job of
highlighting

1046
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 students

1048
00:36:39,649 --> 00:36:40,804
can you hear you say that

1049
00:36:40,804 --> 00:36:42,409
as you've been a leader in

1050
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 makes

1052
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 of

1055
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 is

1057
00:36:54,609 --> 00:36:55,885
international education,

1058
00:36:55,885 --> 00:36:58,179
but I randomly found

1059
00:36:58,179 --> 00:36:59,260
myself running

1060
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 because

1064
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 anyone

1066
00:37:10,300 --> 00:37:12,489
who wants to be a
disruptor and is

1067
00:37:12,489 --> 00:37:14,409
enthusiastic about
solving a problem

1068
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 magic

1070
00:37:17,890 --> 00:37:19,179
of what we're doing here

1071
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, that

1073
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 and

1075
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 to

1079
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 times

1083
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 of

1085
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've

1087
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 ecosystem

1090
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's

1092
00:37:56,469 --> 00:37:57,805
something for everyone.

1093
00:37:57,805 --> 00:37:58,629
You just have to find

1094
00:37:58,629 --> 00:37:59,920
the person that
can connect

1095
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're

1097
00:38:03,445 --> 00:38:04,870
going in a better
direction to be

1098
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 have

1100
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 believe

1102
00:38:14,844 --> 00:38:18,475
the university NPC
as a whole can do to

1103
00:38:18,475 --> 00:38:20,949
engage a lot more like
yourself more with

1104
00:38:20,949 --> 00:38:23,230
the university and just

1105
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 three

1111
00:38:35,259 --> 00:38:36,310
digital events
I could go to

1112
00:38:36,310 --> 00:38:37,510
a day and it's frankly

1113
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 this

1115
00:38:41,335 --> 00:38:43,299
in-person
engagement stuff is

1116
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 that

1118
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 like

1120
00:38:52,119 --> 00:38:54,010
Dawn or other
people to just get

1121
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 we

1126
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 go

1128
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 get

1130
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 to

1133
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 of

1136
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 do

1141
00:39:35,440 --> 00:39:36,520
a better job of

1142
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 awareness

1144
00:39:42,010 --> 00:39:43,179
for me

1145
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 were

1150
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 is

1153
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 to

1155
00:40:21,850 --> 00:40:26,245
hear that nursing programs

1156
00:40:26,245 --> 00:40:28,735
specifically focused
on entrepreneurship

1157
00:40:28,735 --> 00:40:30,190
feels like not teaching

1158
00:40:30,190 --> 00:40:31,840
entrepreneurship is like

1159
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 from

1161
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 class

1165
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 class

1167
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 like

1169
00:41:04,959 --> 00:41:06,205
partners and funds that

1170
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 this

1174
00:41:12,609 --> 00:41:14,259
new generation of
kids to want to

1175
00:41:14,259 --> 00:41:15,459
come out of
undergraduate and start

1176
00:41:15,459 --> 00:41:16,480
a venture fund
with absolutely no

1177
00:41:16,480 --> 00:41:18,559
operating
experience like me.

1178
00:41:19,740 --> 00:41:22,465
And so I think

1179
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 the

1181
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 and

1183
00:41:30,489 --> 00:41:31,629
a desire for them

1184
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 so

1186
00:41:34,914 --> 00:41:36,699
some advice I would
have is just be very

1187
00:41:36,699 --> 00:41:37,750
open to talk to

1188
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 time

1193
00:41:44,710 --> 00:41:45,939
they're gonna email
back because it's

1194
00:41:45,939 --> 00:41:47,080
just a special
place and that's

1195
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 encouraged

1197
00:41:50,934 --> 00:41:52,599
some collaboration
from our side

1198
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 to

1200
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, done

1202
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 to

1204
00:41:59,919 --> 00:42:00,849
leave time for
any questions

1205
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 fiance

1208
00:42:07,390 --> 00:42:10,195
experienced agents
hopefully know

1209
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 follow

1211
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 like

1214
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 like

1216
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 I

1222
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't

1227
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, like

1229
00:43:01,915 --> 00:43:02,950
more grassroots

1230
00:43:02,950 --> 00:43:04,210
were started like

1231
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 of

1234
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 have

1236
00:43:18,040 --> 00:43:19,020
an allegiance to Princeton

1237
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 helping

1241
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 has

1243
00:43:31,764 --> 00:43:33,220
excellent needs
to continue to

1244
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 with

1246
00:43:35,889 --> 00:43:37,419
some folks from Stanford

1247
00:43:37,419 --> 00:43:38,394
who felt the same way

1248
00:43:38,394 --> 00:43:40,750
that they wish there
was more collaboration

1249
00:43:40,750 --> 00:43:42,520
between IV plus I

1250
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 to

1254
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 practice

1259
00:43:59,320 --> 00:44:01,000
your ten second
elevator pitch if

1260
00:44:01,000 --> 00:44:02,949
you actually are in
the startup world

1261
00:44:02,949 --> 00:44:04,900
and then pose
some questions to

1262
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 a

1266
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 opportunities

1270
00:44:26,590 --> 00:44:28,150
for the early
stages of funding

1271
00:44:28,150 --> 00:44:29,679
and pre-seed for

1272
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 community

1274
00:44:33,310 --> 00:44:34,300
that we should be
aware of others

1275
00:44:34,300 --> 00:44:35,410
like Capital
Factory or where

1276
00:44:35,410 --> 00:44:36,670
do you guys suggestions

1277
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 or

1282
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 I

1285
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 from

1287
00:45:49,929 --> 00:45:50,919
the principal on even if

1288
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, I

1290
00:45:53,350 --> 00:45:54,760
will be as helpful
as possible just

1291
00:45:54,760 --> 00:45:57,130
because that's just the

1292
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 you

1295
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 at

1298
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 actually

1303
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 prints

1305
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 of

1310
00:46:40,000 --> 00:46:42,280
the founding directors

1311
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 request

1314
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 just

1318
00:46:58,029 --> 00:46:59,155
like Marcus will
pretty much

1319
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 list

1324
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 to

1327
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 of

1329
00:47:19,869 --> 00:47:21,370
our 20 portfolio companies

1330
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 very

1332
00:47:25,029 --> 00:47:25,749
active group at

1333
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 helped

1335
00:47:28,600 --> 00:47:29,740
organize this
group we call

1336
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 it

1339
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, runs

1342
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 friends

1344
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 most

1346
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 at

1348
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 well

1350
00:47:58,420 --> 00:48:00,520
and invited all of

1351
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't

1356
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 thing

1358
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 of

1360
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 kinda

1362
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 bar

1366
00:48:29,425 --> 00:48:30,250
here in Austin and we

1367
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 to

1369
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 that

1375
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 of

1381
00:49:18,130 --> 00:49:19,389
starting a business and

1382
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 mindset

1384
00:49:24,159 --> 00:49:25,839
and being in a
community that

1385
00:49:25,839 --> 00:49:27,639
encourages that and
really getting at

1386
00:49:27,639 --> 00:49:29,710
the leadership aspect of

1387
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 where

1389
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 like

1391
00:49:37,600 --> 00:49:38,769
higher education
that can bring in

1392
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 as

1394
00:49:43,119 --> 00:49:43,959
being able to have

1395
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 also

1399
00:49:52,720 --> 00:49:53,890
my responsibility is to

1400
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 at

1403
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 with

1406
00:50:02,335 --> 00:50:03,609
certifications
that are coming

1407
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 benefit

1410
00:50:10,000 --> 00:50:12,054
that higher
education can see.

1411
00:50:12,054 --> 00:50:13,330
I think innovative

1412
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 has

1415
00:50:18,040 --> 00:50:19,794
an entrepreneurship
minor now

1416
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 probably

1418
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 in

1420
00:50:26,710 --> 00:50:28,330
building that
network and having

1421
00:50:28,330 --> 00:50:29,559
pitch competitions and

1422
00:50:29,559 --> 00:50:30,819
the stage to
practice on in

1423
00:50:30,819 --> 00:50:33,489
a really safe place
to do that is

1424
00:50:33,489 --> 00:50:35,259
actually a really
great role that

1425
00:50:35,259 --> 00:50:36,880
higher education or any

1426
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 terms

1428
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 say

1430
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 make

1432
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 there

1437
00:51:10,209 --> 00:51:11,410
kind of education
which is mostly

1438
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 are

1443
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 she

1445
00:51:35,110 --> 00:51:36,250
can make them a little bit

1446
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 focus

1449
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 that

1452
00:51:54,745 --> 00:51:58,180
was helping you identify

1453
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 anything

1455
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 of

1459
00:52:13,510 --> 00:52:16,539
a 40% yellow and not
affecting anything is

1460
00:52:16,539 --> 00:52:19,520
actually going to bring

1461
00:52:20,880 --> 00:52:23,830
that person before
returning to that because

1462
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 these

1464
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 as

1469
00:53:00,130 --> 00:53:04,644
an investor and pasting

1470
00:53:04,644 --> 00:53:06,400
hours or less
money required

1471
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 and

1473
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 bring

1475
00:53:18,849 --> 00:53:20,634
them to know who

1476
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 for

1483
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 like

1486
00:53:46,360 --> 00:53:47,950
the benchmarks
and pencil inside

1487
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 in

1489
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 on

1494
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 course

1498
00:54:23,020 --> 00:54:25,845
because you know
the sort of

1499
00:54:25,845 --> 00:54:28,359
the godfather perhaps that

1500
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 entrepreneurship

1506
00:54:43,120 --> 00:54:45,279
is a really
important theme

1507
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 just

1511
00:54:55,119 --> 00:54:57,430
featuring
founders who come

1512
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 with

1515
00:55:03,579 --> 00:55:05,589
some significant
dollars involved,

1516
00:55:05,589 --> 00:55:07,314
including something called

1517
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 you

1519
00:55:09,789 --> 00:55:11,200
because this one focuses

1520
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 University

1523
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 of

1526
00:55:25,120 --> 00:55:27,609
prize bunnies at a
pitch competition.

1527
00:55:27,609 --> 00:55:29,170
And I

1528
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 me

1531
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 of

1538
00:55:47,890 --> 00:55:49,600
our peer institutions
because it's really

1539
00:55:49,600 --> 00:55:50,785
important to
be part of the

1540
00:55:50,785 --> 00:55:52,389
ecosystem and only at

1541
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 you

1544
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, because

1546
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 with

1548
00:56:08,349 --> 00:56:09,849
diverse leadership
teams report

1549
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 World

1551
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 impressive

1553
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 sharing

1559
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 all

1568
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 on

1570
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 maybe

1577
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 of

1580
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 share

1582
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 excited

1584
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 important

1588
00:57:41,170 --> 00:57:44,319
foundational components
that we like,

1589
00:57:44,319 --> 00:57:44,980
industries that

1590
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 gonna

1592
00:57:47,709 --> 00:57:48,759
be software plays,

1593
00:57:48,759 --> 00:57:50,425
but probably some form

1594
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 opportunity

1596
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 think

1598
00:57:57,489 --> 00:57:59,140
is really going to be

1599
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 like

1603
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 rise

1607
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 in

1609
00:58:29,439 --> 00:58:31,089
a company called and just

1610
00:58:31,089 --> 00:58:32,334
seeing him about folks and

1611
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 of

1613
00:58:37,149 --> 00:58:39,010
metabolic health
for the rise

1614
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 become

1618
00:58:45,580 --> 00:58:47,079
more conscientious
about their health

1619
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 think

1621
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
decentralization

1623
00:58:54,099 --> 00:58:55,180
of knowledge towards

1624
00:58:55,180 --> 00:58:56,169
these platforms with

1625
00:58:56,169 --> 00:58:57,340
institutions and just how

1626
00:58:57,340 --> 00:58:59,740
the failure healthcare has

1627
00:58:59,740 --> 00:59:00,489
made people really

1628
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 valuations

1632
00:59:05,469 --> 00:59:06,640
of Sylvius
software companies

1633
00:59:06,640 --> 00:59:07,659
wherever the

1634
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've

1637
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 to

1639
00:59:16,060 --> 00:59:17,469
rise and rise
and rise because

1640
00:59:17,469 --> 00:59:18,759
you just see
so many people

1641
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 play

1643
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 investing

1647
00:59:31,090 --> 00:59:32,439
in what people know and

1648
00:59:32,439 --> 00:59:33,970
especially
encouraging students

1649
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 about

1651
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 valuing

1653
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 where

1655
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 in

1658
00:59:49,674 --> 00:59:52,239
people's knowledge
and paying for

1659
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's

1661
01:00:01,704 --> 01:00:03,399
so many different
opportunities I

1662
01:00:03,399 --> 01:00:04,960
can say what I'm
most interested

1663
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 in

1665
01:00:11,049 --> 01:00:12,400
a revolution of

1666
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 to

1668
01:00:16,689 --> 01:00:18,159
fundamentally
change how we

1669
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 still

1672
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 is

1676
01:00:39,865 --> 01:00:41,349
their COVID has changed

1677
01:00:41,349 --> 01:00:43,029
our lives and some of
those changes are gonna

1678
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 are

1680
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, I

1682
01:00:48,219 --> 01:00:49,569
believe just

1683
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 go

1685
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 not

1690
01:01:07,300 --> 01:01:08,199
have all the tools that we

1691
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 companies

1693
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 year

1695
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 change

1699
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 completely

1701
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 from

1703
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 are

1705
01:01:50,019 --> 01:01:51,430
looking for and how

1706
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 fund

1708
01:01:57,549 --> 01:02:00,040
companies is completely
different today

1709
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 of

1711
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 completely

1713
01:02:12,970 --> 01:02:14,695
diminished and what is

1714
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 to

1717
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 insignificant

1720
01:02:23,860 --> 01:02:25,240
replenish his
eyes so that we

1721
01:02:25,240 --> 01:02:28,359
can reshape our company

1722
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 with

1724
01:02:30,565 --> 01:02:32,050
profitable birth goal is

1725
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 you

1728
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 with

1731
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 be

1733
01:02:44,349 --> 01:02:46,059
where you're trying
to build a culture

1734
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 be

1736
01:02:51,280 --> 01:02:51,999
really interesting to see

1737
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 though

1740
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 companies

1745
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 at

1747
01:03:10,749 --> 01:03:11,439
that in the
companies that were

1748
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 special

1750
01:03:16,420 --> 01:03:17,905
for companies that
are founded in

1751
01:03:17,905 --> 01:03:20,859
downturns the muscle

1752
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 that

1755
01:03:26,500 --> 01:03:27,640
the longest runaway you're

1756
01:03:27,640 --> 01:03:28,419
going to have between now

1757
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 kinds

1759
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 time

1761
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 think

1764
01:03:47,079 --> 01:03:48,804
about building your teams

1765
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 have

1767
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 honestly

1769
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 from

1772
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 strategy

1774
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 much

1777
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 think

1779
01:04:40,570 --> 01:04:41,935
about young talent

1780
01:04:41,935 --> 01:04:43,089
from the Princeton
network,

1781
01:04:43,089 --> 01:04:44,380
given a lot of

1782
01:04:44,380 --> 01:04:46,509
the other top universities

1783
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 an

1785
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 this

1787
01:04:53,230 --> 01:04:54,685
last summer from

1788
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 theses

1792
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's

1795
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 venture

1799
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 to

1801
01:05:18,549 --> 01:05:20,379
20 other students who are

1802
01:05:20,379 --> 01:05:22,225
also really brilliant

1803
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 into

1805
01:05:26,170 --> 01:05:28,645
our portfolio
companies right now or

1806
01:05:28,645 --> 01:05:29,739
potentially
coming into the

1807
01:05:29,739 --> 01:05:30,850
firm and it just took

1808
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 not

1810
01:05:35,139 --> 01:05:36,759
trying to feel like
there needs to be

1811
01:05:36,759 --> 01:05:39,534
some massive
campaign to get it

1812
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 small

1814
01:05:44,515 --> 01:05:46,300
and getting a couple
of connections

1815
01:05:46,300 --> 01:05:48,280
going and let them
grow and nurture

1816
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 Princeton

1819
01:05:58,210 --> 01:06:00,204
entrepreneurship
club on campus.

1820
01:06:00,204 --> 01:06:02,080
And the student body

1821
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 students

1823
01:06:05,815 --> 01:06:07,074
are looking to get

1824
01:06:07,074 --> 01:06:08,409
their first
opportunity and

1825
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 with

1827
01:06:12,040 --> 01:06:13,899
that group and
see about having

1828
01:06:13,899 --> 01:06:15,370
a student do a project for

1829
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 get

1831
01:06:20,830 --> 01:06:22,180
their foot in the
door and for you

1832
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 to

1835
01:06:27,490 --> 01:06:29,829
peer involvement
with Princeton and

1836
01:06:29,829 --> 01:06:31,735
getting our Longhorns with

1837
01:06:31,735 --> 01:06:32,829
tigers and seeing what

1838
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 every

1842
01:06:41,859 --> 01:06:44,830
student that
wants to work at

1843
01:06:44,830 --> 01:06:46,179
an internship with

1844
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 and

1846
01:06:52,959 --> 01:06:55,915
mission driven enterprises

1847
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'm

1852
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 stay

1854
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 crushing

1858
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 gotten

1861
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 for

1865
01:07:40,719 --> 01:07:41,259
entrepreneurship

1866
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 been

1869
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 to

1872
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're

1874
01:07:59,320 --> 01:08:01,119
profitable or

1875
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-risk

1880
01:08:12,984 --> 01:08:16,330
the start Starting piece

1881
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 if

1883
01:08:20,889 --> 01:08:22,060
you-all have any
experience with

1884
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 traditional

1887
01:08:25,675 --> 01:08:27,519
VC model and what if

1888
01:08:27,519 --> 01:08:29,079
you've seen any of
that in Austin and

1889
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 say

1893
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 guys

1895
01:08:44,740 --> 01:08:49,180
have I definitely have

1896
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 who

1898
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 of

1903
01:09:03,130 --> 01:09:04,659
the interesting
things I heard is

1904
01:09:04,659 --> 01:09:08,950
that one of the
biggest opportunities

1905
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 parents

1907
01:09:15,220 --> 01:09:17,064
and people that run
small businesses

1908
01:09:17,064 --> 01:09:19,359
are basically retiring and

1909
01:09:19,359 --> 01:09:20,500
they don't have people to

1910
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 can

1913
01:09:27,039 --> 01:09:28,390
take a lot of
those businesses

1914
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 know

1917
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 like

1919
01:09:38,380 --> 01:09:42,580
very specific entrepreneurs
that are really

1920
01:09:42,580 --> 01:09:45,429
bullish on this that
you can find online

1921
01:09:45,429 --> 01:09:47,439
and they're looking for

1922
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 doing

1924
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 with

1927
01:10:01,510 --> 01:10:04,464
three alumni who have

1928
01:10:04,464 --> 01:10:06,940
been successful
in the ETA,

1929
01:10:06,940 --> 01:10:07,840
the entrepreneurship

1930
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 talks

1932
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 concentrated

1934
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 have

1937
01:10:20,109 --> 01:10:21,730
a good conversation
about that

1938
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 face

1941
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 because

1946
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 for

1952
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 involvement

1961
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 have

1964
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 Cohen

1968
01:11:29,290 --> 01:11:31,059
mentioned that
occurred in New York

1969
01:11:31,059 --> 01:11:34,089
recently at a at a
penthouse is bigger than

1970
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 these

1975
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 thank

1977
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's

1979
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 his

1982
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 wonderful

1984
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.