Explore every episode of the podcast Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders
Dive into the complete episode list for Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders. Each episode is cataloged with detailed descriptions, making it easy to find and explore specific topics. Keep track of all episodes from your favorite podcast and never miss a moment of insightful content.
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Title
Pub. Date
Duration
Alex Ibrahim, Corporate CFO, Yanolja – Globetrotter Goals: How Yanolja is upping the travel game
25 Sep 2024
00:23:55
As travel trends shift, and young people drive demand for simple, integrated, experience-focused journeys, its critical to respond with innovative solutions that are ahead of the curve. That's where today's guest comes in.
We're sitting down with Alex Ibrahim, the Corporate CFO at Yanolja. South Korea's top travel and accommodation booking platform. In this role, Alex leverages his expertise in the capital markets to strengthen the company's financial management and drive strategic initiatives, supporting its continued global expansion and growth.
He brings over 20 years of experience from his distinguished career at the New York Stock Exchange, where he played a pivotal role in facilitating IPOs, Capital raises for numerous global enterprises across Asia, North America, and South America.
We chatted about what excites him about Yanolja, and the bold moves the company is making to reimagine travel around the globe.
Highlights:
Alex explains Yanolja's background and founding story (2:50)
Alex discusses his career at the NYSE, and why he made the leap to Yanolja (4:17)
Yanolja's edge over its competitors (6:21)
The B2C and B2B aspects of the business (7:07)
Yanolja's data advantage (10:10)
How Yanolja prioritizes which geographies they focus on (10:59)
How Yanolja's data-driven services provide efficiency and profitability for their customers' businesses (12:12)
How Alex sees AI shifting the industry in the next 5-10 years (13:06)
Yanolja's strategy as its connected with their acquisition of Go Global Travel (14:36)
The opportunities inherent in the fragmentation of the industry (15:21)
The company's customer demographics and what Alex means by "democratizing" travel (16:34)
Alex discusses how Yanolja prioritizes data privacy (18:36)
How the company's Korean origins influence the business (19:23)
Alex's advice for aspiring tech leaders, and his travel recommendations (20:27)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.
Pete Najarian, Managing Partner, RW3 Ventures – Digital Disruption: Decoding the crypto world and revolutionizing finance through blockchain technology (re-broadcast)
18 Sep 2024
00:35:02
As the world embraces cryptocurrency, blockchain technology, and deregulated finance, there's a massive transformation on the horizon. But if you're going to invest in these innovations, you need to be incredibly diligent and have a deep understanding of the tech. Today's guest has both.
We're sitting down with Pete Najarian, who is the Managing Partner of RW3 Ventures. RW3 is a digital asset venture firm built in partnership with The Raptor Group. The Raptor Group is a multi-sector venture firm with significant investments across fintech, sports and gaming, healthcare, and digital assets.
Pete has significant dedicated digital asset experience, having previously served in senior leadership roles for two leading digital asset operating businesses: Zappo, which was ultimately acquired by Coinbase in 2019, and BitGo, the leader in digital asset security, custody, and liquidity. They provide the operational backbone for more than 1, 500 institutional clients and over 50 companies. They also process 20 percent of all the global Bitcoin transactions by value.
Prior to that, Pete spent 20 years plus building and leading the global emerging markets businesses for some of the world's largest banks, UBS and RBS in particular.
Highlights:
Pete's experience in finance, discovering cryptocurrency, and founding RW3 (3:11)
Pete's approach to investing at RW3 (6:25)
Bitcoin, and Pete's outlook on when to invest in crypto (7:19)
Analyzing Bitcoin and other cryptocurrencies' place in the market (8:54)
Pete breaks down the opportunities opened up by blockchain innovation (10:31)
The use and value of cryptocurrency technology in the world economy (12:36)
How Pete makes decisions on blockchain investments (15:04)
How RW3 assists clients (17:47)
Pete breaks down the relationship between traditional finance and cryptocurrency (20:07)
Pete's predictions on the future of blockchain technology and finance field (23:12)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.
Rob Skinner, Founding Partner & Co-CEO, IEQ Capital – Trust Funded: Building team culture to cultivate client connection and loyalty
17 Jul 2024
00:24:21
In the world of wealth management, working with clients is a deeply personal endeavor that requires more than just financial expertise. By looking inward first, and prioritizing a strong team culture and personal and professional development, companies can cultivate a strong trust and connection with clients. Today's guest has made this approach the foundation to his business.
Today we're sitting down with Rob Skinner, who is a founding partner and the co-CEO of IEQ Capital. He has served as a financial advisor to wealthy families and institutional investors for over two decades. Rob began his career at Fidelity Investments in 1995 before joining Merrill Lynch as first vice president of investments.
In 2008, he co-founded Luminous Capital, an independent registered investment advisory firm where he served as Chief Investment Officer, Co-Head of Investment Research, and Co-manager of Portfolio Construction. Luminous Capital was acquired by First Republic Bank in 2012.
Active in the community, Rob serves on the Board of Directors for the First Tee of Monterey County, the Board of Directors of the Pebble Beach Company Foundation. He's a Trustee of PGA REACH, the charitable foundation associated with PGA of America, as well as the Naval Postgraduate School Foundation. Rob and his wife actively support numerous foundations and charities in and around the Monterey peninsula.
Rob holds a Bachelor of Arts in Political Science from the University of Connecticut, which, if you haven't heard has won national championship titles, back to back in men's basketball. Go Huskies!
Highlights:
Rob's early influences and beginnings in wealth management (4:15)
Founding Luminous Capital (5:52)
Background on IEQ Capital, and company mission (6:37)
What differentiates IEQ from competitors (7:13)
IEQ's ideal client profile (8:34)
How the IEQ team works with clients on wealth management (9:30)
Rob walks us through IEQ's client screening process (10:18)
The value of culture at IEQ (11:10)
The use of technology at IEQ (12:00)
How being a founder has informed Rob's work with his clients (13:30)
How Rob approaches liquidity planning with clients (14:41)
Rob breaks down IEQ's partnership with Stone Point Capital (15:33)
The benefits for smaller firms (18:37)
What Rob has learned from entrepreneurs during his time in wealth management (19:19)
The importance of fostering a fun and enjoyable environment and culture (20:43)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.
Scott Hart, CEO at StepStone Group – Flywheeling High: Creating a niche in private markets investment and growing on your own momentum
21 Sep 2022
00:28:09
Summary:
Private markets investment is a giant field, and finding a unique place in the business isn’t easy. But when you pay close attention to timing, the needs and wants of your clients, and building a solid team, you can make a definitive mark in the industry.
Joining me to talk about how that's done is Scott Hart, CEO of StepStone Group, a private markets investment firm. Since its founding in 2006, StepStone’s seen steady growth, and that’s been fueled by their customized investment solutions and advisory and data services. With 23 offices around the world and $137 billion of assets under management, they just keep growing.
Scott joined StepStone in 2007, and he’s held a number of responsibilities across the organization, managing important client relationships, serving as co-head of private equity co-investments, and eventually becoming co-CEO in 2019, and CEO in January 2022. Scott is also a member of the global executive committee, private equity executive committee, private equity investment committee, and private equity portfolio and risk management committees.
We talked about the factors around StepStone’s huge growth since Scott started in 2007, and the flywheel effect that’s helped get it there. We also took a dive into how diversification helped them carve out a niche built around custom products for a global client base.
Highlights:
Scott tells us about StepStone's mission and how they carry it out (03:16)
Some of the important trends StepStone reacted to when they began 15 years ago (05:51)
Scott outlines StepStone's strong position within the GP and LP ecosystem (08:04)
StepStone's diversification strategies, global approach, and visibility (10:26)
What they have offered retail investors versus industrial investors (13:40)
Scott discusses StepStone's acquisition of Greenspring Associates (15:02)
StepStone's company culture and how they attracted the right people (16:39)
The keys to international expansion and managing a global firm (19:31)
The resiliency of the private markets after a decade-long bull run (21:57)
Scott shares projections for StepStone's long-term organic growth (24:53)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Meaghan Montegari, Managing Director at ICR — ICR Industry Reports: Investor Access
14 Sep 2022
00:22:33
Summary:
In an ever-changing market, consistent communication and messaging is essential to building up stakeholder trust. Corporate access is key when it comes to developing relationships between companies and investors, but access strategy can be difficult to navigate without the right experience.
Joining me on this episode of ICR Industry Reports is Meaghan Montegari, Managing Director and Head of Global Investor Access. Meaghan recently joined ICR with over a decade of experience in all facets of corporate access and institutional equity sales. While on the sell side with companies like BofA Merril, Scotia Capital and Wells Fargo, she worked closely with corporates to identify potential shareholders, execute road shows, assist in mergers, spins, and acquisitions, and coordinate major conferences.
In this episode, Meaghan and I discuss today's corporate access landscape, the importance of clear and consistent marketing, and why access to data combined with a human touch is such a difference maker.
Highlights:
What are investor access and corporate access? (02:46)
Meaghan talks about the implementation of MiFID II and subsequent conflicts of interest (03:47)
Meaghan discusses ICR's holistic view of the market (07:11)
How has the shift towards in-house corporate access changed the market landscape? (09:05)
Meaghan explains why a human touch is necessary when interpreting data (11:40)
Why is it critical to consistently meet with or refresh your shareholder base? (13:30)
How often should companies meet with investors? (16:45)
Meaghan breaks down why ICR's corporate access services are designed to partner with the sell side (19:07)
How is Meaghan using ICR's data to create a powerful new targeting platform? (20:29)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
John Mancini, Partner at Mayer Brown — Investing in your IP Strategy : The importance of protecting your intellectual property
07 Sep 2022
00:28:58
Summary:
In today's knowledge-based economy, your intellectual property is your competitive advantage and it needs to be protected.
My guest this week is John Mancini, partner at Mayer Brown and a member of the firm's global intellectual property practice, which was named IP practice group of the year in 2017 and 2020 by Law360.
John's practice focuses on litigating copyright, trademark, trade secret, and patent disputes across the country, and he has successfully tried high-profile intellectual property cases as lead council, representing both public and private companies in a wide range of industries. His clients include tech giants like Google, YouTube, Spotify and many others and his contributions to the field have been recognized with many awards and honors including his 2020 induction into The Legal 500 Hall of Fame for trade secret litigation.
John and I spoke about IP-related vulnerabilities companies should be aware of, new intellectual property challenges facing businesses in the social media age, and why getting your IP assets figured out should be an early priority for any company.
Highlights:
John walks us through his path to intellectual property litigation (03:03)
John outlines Mayer Brown's practice and history (04:35)
Why pre-IPO companies should prioritize protecting their IP rights (06:06)
How companies can enforce their IP assets as barriers to entry (09:12)
IP vulnerabilities pre-IPO companies should be aware of (11:00)
How are social media influencers creating new vulnerabilities for companies they work with? (17:50)
John shares some significant cases he's been involved with (19:15)
John explains how to approach protecting IP rights on a global scale (20:51)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Henry Nassau, CEO at Dechert — On Firm Footing : How law firms play an essential role in the corporate landscape
31 Aug 2022
00:30:32
Summary:
Given the legal complexity of just about every aspect of running a company, lawyers are nearly ubiquitous in the corporate world. So, it should come as no surprise that a lifetime in corporate law amounts to an incredible wealth of knowledge and insight that can extend a lawyer's value far beyond just providing legal advice.
My guest this week is Henry Nassau, CEO of global law firm, Dechert. First joining Dechert in 1987 and returning in 2003 after a stint as in-house general counsel (and briefly COO) at Internet Capital Group, Henry served as chair of Dechert's corporate and securities group for a combined 14 years, representing private equity sponsors, venture capital firms, public and private corporations, management teams, boards, and special committees regarding corporate and securities matters and advising clients on mergers, acquisitions, dispositions, investments, securities offerings, proxy contests, corporate governance, and general corporate matters.
CEO since July of 2016, Henry has played an instrumental role in expanding the Philadelphia-based firm's international platform across Europe, Asia, and the middle east. Today, Dechert has equal representation of lawyers inside and outside of the United States, making them a go-to choice for cross-border matters.
Henry and I spoke about the rise and fall of the dot-com bubble as it compares to current market conditions, trends in economic globalization, and why the transition from private equity law to businessperson can be a relatively seamless one.
Highlights:
Henry outlines the history of Dechert, as well as his own history with the firm (03:29)
Henry explains his decision to go in-house at ICG in the late 90s(08:42)
Henry unpacks how lessons he learned from the burst of the Internet bubble inform his practice today (13:33)
What sets Dechert apart from other firms? (16:53)
Henry discusses trends he sees in globalization (18:39)
How did COVID affect Dechert and what adaptations seem permanent? (20:38)
Henry offers insight on recent market trends (23:53)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Joe Folkman, Co-founder and President at Zenger Folkman — The Data on Distrust : Building and maintaining trust as a leader
24 Aug 2022
00:30:39
Summary:
My guest this week is co-founder and president of Zenger Folkman, a leadership development consultancy, Joe Folkman. For more than 30 years, Joe has been assessing and studying top leaders in a variety of industries and is a world-renowned psychometrician and leadership development expert. If you're not familiar with his unusual job title, a psychometrician creates psychological tests to measure employees' knowledge, skills, and abilities.
Joe is also a prolific writer and has contributed to the Harvard Business Review, Forbes, and Business Insider. His research has also been featured in Business Week, The New York Times, and The Wall Street Journal. Finally, Joe is the best-selling author and co-author of nine books on leadership and feedback, including his latest work; The Trifecta of Trust: The Proven Formula for Building and Restoring Trust.
Joe and I spoke about the foundational theory of this latest book, how the implementation of diversity and inclusion policies have a positive effect on trust, and why you actually can please everyone...and have to.
Highlights:
Joe talks about his use of data in making his assessments (03:29)
Joe lays out the three pillars of The Trifecta of Trust(05:52)
Joe discusses some top-level statistics of trust and links them to the corporate world (07:16)
Joe outlines why consistency is important when building trust (10:27)
Do you need to please everyone to be trusted? (12:04)
How did the pandemic change which leaders were trusted? (13:52)
Joe reveals that managers often have a preference for giving negative feedback (16:49)
How do we regain lost trust and how do managers navigate what they don't know? (20:44)
Joe talks about the interplay between trust and diversity and inclusion policies (23:50)
Joe talks about intergenerational variations of trust (27:32)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Scott Sanborn, CEO at LendingClub — Bank on It: Innovative lending for better financial futures
17 Aug 2022
00:32:06
Summary:
According to recent surveys, 43% of Americans expect to add to their debt in the next six months in order to make ends meet. Most will use credit card debt to bridge the gap, but high interest rates could see this put the financial futures of many Americans at risk. Innovative solutions to help manage that debt can make all the difference.
Today's guest is Scott Sanborn, CEO of LendingClub, the only full-spectrum FinTech Marketplace Bank that has helped more than 4 million Americans save billions of dollars with no plan to slow down any time soon. A LendingClub veteran since 2010, Scott served first as the company's Chief Marketing Officer, then Chief Operating Officer before stepping into the CEO position in 2016. Scott was instrumental in steering the company through a prolonged period of triple-digit growth running up to its 2014 IPO, the largest tech IPO that year, and has long been a driving force in the organization.
In this episode, Scott and I talk about the company's impressive and consistent growth, why their services are accessible to a wider range of customers than their competitors, and how their 2021 acquisition of a digital bank has transformed their business.
Highlights:
Scott traces LendingClub's path from its founding to its recent bank acquisition (03:17)
Scott discusses what sets LendingClub apart from their competitors (06:13)
Scott explains how the bank acquisition expanded LendingClub's TAM (09:15)
How does LendingClub use technology to improve their customer service? (12:01)
Scott unpacks LendingClub's positive flywheel, and what is driving their repeat business (14:41)
Scott teases the products and services we can expect to see from LendingClub over the next few years (18:37)
How will AI be a game changer down the road? (21:34)
How is LendingClub positioned to help Americans deal with inflation and rising interest rates? (23:15)
What do shareholders misunderstand about LendingClub? (27:31)
Scott shares how his passion for surfing informs his work (29:28)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Jim Barr, CEO at Nautilus — Don't Sweat It: The home fitness trend is here to stay
10 Aug 2022
00:29:09
Summary:
While gyms were closed, and most of the population was stuck at home during the pandemic, the home exercise equipment category saw a huge boom in sales. With this came increased consumer appetite for connectivity and consolidation of their fitness experience across all the products in their home gyms.
Today's guest is Jim Barr, CEO of the iconic fitness brand Nautilus Inc. Also falling under the Nautilus umbrella are well-known brands like Bowflex and Schwinn. Before joining Nautilus, Jim was Group President of Richie Brothers, a global leader in sales of used industrial equipment, and Chief Digital Officer at Office Max, where he led the transformation of its online and omni-channel experiences.
In this episode, Jeff and I talk about how Nautilus managed the huge surge in demand for their products during the pandemic, how they've used digital technology to transform the customer experience, and how getting your team right is a key driver of success.
Highlights:
Jim discusses the current landscape of the home fitness industry (4:12)
Jim gives a breakdown of his strategic business plan North Star (7:15)
Jim talks about Nautilus' huge growth in digital members and how this was achieved (10:24)
Jim explains how a diverse portfolio of products has helped Nautilus grow (12:40)
How did the pandemic affect Nautilus' supply chain demand and how has this changed? (14:24)
Jim takes us through his personnel changes, and how this has benefitted Nautilus (16:11)
Jim talks through the pivot that Nautilus made to AI, machine learning, and vision and motion capture technologies (18:04)
Jim discusses industry competition and the power of the Nautilus brand (20:30)
How can diversity in retail channels manage risk? (23:21)
Jim talks about having a long-term view can help investors understand your story (25:31)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Greg McDowell, Partner at ICR — ICR Industry Reports: Technology Investor Relations
03 Aug 2022
00:18:29
Summary:
Tech companies are having to work harder than ever to prove their resilience in an increasingly noisy market. For investors, the pandemic has highlighted the need for sustained growth and detailed future planning when choosing where to put their capital, and communicating these avenues of value to investors needs to be a part of every company's core strategy.
Joining me today on this episode of ICR Industry Reports is Partner Greg McDowell, Head of Technology Investor Relations. Greg has spent the last 25 years fully immersed in software, spending 10 years at Oracle as an Account Manager, then moving to JMP, an investment bank based in San Francisco. He's seen the sector change over time -- everything from the dot com crisis through the pandemic re-writing the tech rule book.
In this episode, we discuss the fluctuating nature of tech stocks, how investor requirements are changing, and how resistance, detailed forward planning and high-quality communication are all key to successful growth.
Highlights:
Greg talks about the work culture at Oracle (3:58)
Greg breaks down the work he does with tech clients at ICR (5:22)
Greg lays out the landscape of tech stocks and investor sentiment (8:09)
As a tech company, how do you prove the durability of your revenue growth to investors? (12:13)
Greg discusses the durability of software companies in a market dependent on them (13:57)
Greg talks about the importance of telling your story to investors (15:49)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Dave Prokupek, CEO at Ideal Image — The Beauty Business is Booming: The rapid rise of the aesthetics industry
27 Jul 2022
00:22:50
Summary:
The 'Fountain of Youth' was first mentioned in the writings of Herodotus in the 5th century BC. The world may have changed a lot since the Ancient Greeks, but our desire to look better, look younger, has not. Fast forward to today, Tiktok "beauty hacks" and YouTube videos promising to help us "look younger in seconds" flood the internet. The human obsession with youth and beauty has been alive and well for thousands of years, so it shouldn't come as a surprise that the aesthetics category is giant, and continuing to grow.
Today's guest is Dave Prokupek, CEO of Ideal Image, North America's leading aesthetics brand with over 1000 doctors and medical professionals who have performed more than 20 million FDA approved treatments. Backed up by 20 years of experience, Ideal delivers affordable and effective health and beauty services including laser hair removal, Botox, filler, body sculpting, skin rejuvenation, and medical grade skincare. Prior to joining Ideal, Dave built a cross-industry career by leading transformational growth as the CEO of an impressive list of companies like Smashburger and Jackson Hewitt Tax Service.
In this episode, David and I discuss the mechanics of Ideal Image's successful business model, the massive growth they are seeing in the health and beauty market, and how digital innovation is giving them a leg up on their competition.
Highlights:
Dave unpacks the opportunities he saw that led him to Ideal Image (02:57)
Dave discusses the broad consumer pool that Ideal Image is targeting (04:59)
Dave explains the benefits of partnering with a private equity firm like L Catterton (06:40)
What business model allows Ideal Image to scale rapidly while maintaining a personal experience for customers? (07:45)
Dave talks us through how the pandemic affected Ideal Image (10:35)
What is the Ideal Image tele-aesthetics platform? (12:16)
Dave explains how Ideal Image is using technological innovation to grow the business (13:38)
How are current market conditions affecting Ideal Image's bottom line? (18:04)
Dave describes Ideal Image's affiliate program (19:05)
Dave offers advice to CEOs on growing their companies, regardless of the industry they're operating in (20:38)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Jeff Fischer, President at Longhorn Vaccines & Diagnostics — Passing the Test : How this small company made a big difference in the fight against COVID-19
20 Jul 2022
00:25:10
Summary:
Testing the population is a vital step in the pursuit of disease control. During the COVID-19 pandemic, when the biotech industry was challenged to rapidly adapt and produce safe, effective testing at an almost unimaginable scale, businesses were forced to adapt and re-think the way diagnostic tests are designed, distributed, and safely conducted in order to keep up with demand.
Today's guest is Jeff Fischer. Jeff is the co-founder and president of Longhorn Vaccines & Diagnostics LLC, an industry leading biotechnology company that has been on the frontlines of the battle with COVID-19. From 2007 to 2017, Jeff served as CFO of Longhorn. Jeff has previous experience in the biotech industry as an executive VP and CFO, and he is also a former infantry officer in the United States Marine Corps.
In this episode, Jeff and I discuss Longhorn's innovative FDA-approved PrimeStore Molecular Transport Medium -- a product that has changed the way viruses are tested, how seeking FDA approval helped with mass rollout in a time of crisis, and how Longhorn found an unusual solution to a shortage of essential supplies.
Highlights:
Jeff discusses his motivation to start a company focused on diagnostic tools to address what he saw as a coming influenza pandemic (03:00)
How life in the Marine Corps influenced Jeff's understanding of the world and his work (04:03)
What is PrimeStore Molecular Transport Medium? (05:35)
How Longhorn adapted to increased demand during the pandemic (10:10)
How the Coca-Cola Bottling Group became the solution to test tube supply chain issues during the pandemic (13:43)
Jeff discusses Longhorn's market opportunity and long term avenues for growth (15:47)
Jeff explains the agility and independence afforded to Longhorn by not being a public company (17:29)
What is the concept of "one health," and how will it change the way we think about the health of humans and the planet (19:10)
Is a universal influenza vaccine just around the corner? (21:24)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Seth Spergel, Managing Partner, Merlin Ventures – More Than Money: Standing out in Venture Capital by investing in relationships
10 Jul 2024
00:31:00
Venture Capital is all about the cash — but in a crowded field, money is a commodity. To truly stand out, you have to go above and beyond for your portfolio companies. Today's guest has set themselves apart by providing exceptional support.
We're sitting down with Seth Spergel, who is a managing partner of Merlin Ventures, where he's responsible for identifying cutting-edge companies for Merlin to partner with and invest in. Seth has more than 20 years of experience building, selling, and investing in software and startups.
Prior to Merlin Ventures, Seth was VP for Infrastructure Technologies at In-Q-Tel, a strategic investment firm that invests in startups that meet the mission needs of government customers. There he led a team of technology experts to evaluate companies and identify novel uses of their technology within the In-Q-Tel customer set.
Before In-Q-Tel, Seth was the VP of engineering for ThinkGeek, an online seller and manufacturer of geeky toys and clothing. He also spent 12 years at IBM in roles ranging from software developer to sales manager.
Highlights:
Merlin's background and evolution into VC (3:44)
What differentiates Merlin in the VC market (7:32)
What an ideal portfolio looks like for Merlin (8:38)
Seth walks us through the support system Merlin provides their companies (9:21)
The unique guidance Merlin offers on compliance and political relations (12:57)
Seth tells the story of one of Merlin's successful exits (14:52)
Seth's advice for founders seeking funding (17:59)
Current trending market opportunities (18:50)
How cloud computing and migration are affecting the cybersecurity space (20:35)
Seth describes the current state of Israel's funding environment (22:00)
Values and culture at Merlin (25:35)
Seth's predictions for the future of Merlin and the VC market (26:55)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.
Brad Cohen, Managing Partner at ICR — ICR Industry Reports: Proptech, Real Estate & Lodging
13 Jul 2022
00:18:45
Summary:
As a public company, building strong relationships with investors is vital. In a down market, the strength of those relationships relies more than ever on honest, reliable communication. No matter what's happening in the market, your company always has a story to tell. Telling it genuinely builds trust, and your investors will thank you for it.
My guest today is corporate communications expert and ICR Managing Partner, Brad Cohen. At ICR, Brad leads the PropTECH, Real Estate, and Lodging group, covering a broad range of industries. A former sell-side analyst and hedge fund manager, Brad has significant experience in investor relations and brings extensive knowledge of the strategic communications business to the table.
In this episode, Brad and I discuss the trends he is observing across different areas of his practice, what it takes for a company to make it to the public market in current conditions, and how Brad recommends managing relationships with investors during periods of market instability.
Highlights:
Brad's path from hedge fund manager to ICR (02:31)
What areas of Brad's practice are doing well in current market conditions? (04:19)
Brad describes the type of companies that are currently able to raise money and break into the public market (06:44)
Brad walks through how the construction sector is responding to challenges like supply chain issues and labor shortages (08:56)
Brad explains why now is the time for companies to set realistic expectations for their investment communities (10:45)
What are the benefits of holding investor days in a down market? (13:39)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Joseph Antoun, CEO at L-Nutra — Food for Thought: Turning sick care into health care with science-based nutrition
06 Jul 2022
00:27:16
Summary:
We live in the era of the most advanced medical technologies the world has ever seen, but are we really that much healthier for it? According to the CDC, 6 in 10 adults in the US are living with at least one chronic disease, 4 in 10 have two or more. In the wake of the pandemic, those numbers look primed to keep going up.
Modern health care systems treat these illnesses after the fact, but what if healthcare began long before we got sick? And what if the best preventative medicine starts with something as simple as the food we eat? With today's science-based advancements in nutrition for health and longevity, the old adage "food is medicine" may be closer to the truth than ever before.
Today's guest is Dr. Joseph Antoun, the CEO and Chairman of L-Nutra, a unique nutri-tech company applying cutting-edge science to nutrition with the aim of helping people live longer, healthier lives. Dr. Antoun served as the Chairman of the Board at the Global Healthspan Policy Institute and as a member of Forbes Business Development Council. Before joining L-Nutra, Dr. Antoun was the CEO of Health Systems Reform, the Co-Director of the Center for Health Policy at the University of Chicago, and the Co-Editor in Chief of the Journal of Helath Systems and Reform, among other accomplishments.
In this episode, we speak about the science behind L-Nutra's fasting mimicking technology, what they see as their three areas of growth potential, and how their programs and products stand out in a crowded market.
Highlights:
Dr. Antoun explains the scientific premise behind L-Nutra's products and programs (03:22)
Dr. Antoun's describes how a career in medicine led him to L-Nutra (05:45)
What are the health benefits of fasting, and how do L-Nutra products mimic its effects? (09:34)
Why are customers more likely to complete a ProLon "fast" than other diets or meal plans? (16:33)
Dr. Antoun walks through some of the products under the L-Nutra umbrella, including Fast Bar and Nutrition for Longevity (18:44)
L-Nutra's approach to differentiation (22:18)
Dr. Antoun unpacks the three areas of growth potential L-Nutra is focusing on (23:54)
If you have questions about the show or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Jerry Morgan, President & CEO at Texas Roadhouse — Serving Up Success: The key ingredients? Great value and 'legendary' service
29 Jun 2022
00:26:47
Summary:
When inflation goes up, and disposable incomes shrink, consumers approach their spending with increased scrutiny. Despite tighter budgets, however, people are still social and they still need to eat, and restaurants that consistently provide great value to their customers will come out on top.
Today's guest is Jerry Morgan. Jerry is President and CEO of Louisville, Kentucky-based Texas Roadhouse, trading under the symbol TXRH. With 35 years of food service experience, including time at Bennigan's and Burger King, Jerry is an industry expert with a ton of institutional knowledge. He began his career with Roadhouse in 1997 as the managing partner of the first Texas Roadhouse in Texas, and worked his way up through the company ranks. In 2020 he was named President of Texas Roadhouse, and became CEO in 2021 following the untimely death of the company's founder and former CEO, Kent Taylor.
In this episode, I speak with Jerry about the company values that have been instrumental to the success of the brand, how they're handling recent inflation, and the two additional restaurant concepts they'll be expanding over the next few years.
Highlights:
Jerry walks through the Texas Roadhouse backstory (03:03)
Jerry explains how he got his start with Texas Roadhouse, and why it beat out other restaurant chains for his attention (05:29)
Jerry describes the company's values, and their commitment to quality and service (06:54)
Jerry unpacks the market partner structure of Texas Roadhouse (08:12)
Jerry's philosophy on pricing, and how he looks at passing rising costs on to customers (09:50)
How a company culture of "fun with purpose" helps Texas Roadhouse succeed (11:06)
How Texas Roadhouse is approaching technology (15:14)
Jerry describes the two additional restaurant concepts in the Texas Roadhouse family: Jaggers and Bubba's 33 (17:36)
Jerry talks about the advantages of being a public company with increased cash generation from a stakeholder perspective (22:05)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Nino Ciappina, CEO at PARTS iD — Standing Apart: Finding success through differentiation
22 Jun 2022
00:29:53
Summary:
The automotive industry is changing. Shifting consumer behavior, increased demand for sustainability, and macro shifts towards digitization, automation, and new business models could see companies that are unable to keep up get left behind. For companies ready to embrace these changes, however, there are new opportunities for significant growth.
Today's guest is Nino Ciappina, CEO of PARTS iD. PARTS iD is a digital commerce company, trading under the symbol ID, that is responding to evolving consumer needs and showing the aftermarket parts and accessories industry what an ideal customer experience looks like in 2022. Previously, Nino served as the Chief Marketing Officer and later the General Manager of Onyx, the predecessor company of PARTS iD. Nino has also served in a variety of digital marketing, marketing, and eCommerce positions, notably as the Director of Digital Marketing & Customer Acquisition at The Children's Place, VP of eCommerce and Digital Marketing at Firestar Diamond Group, and later as Senior Director of eCommerce and Digital Marketing at Foot Locker.
In this episode, I speak with Nino about why the iD brand is unique in the industry, their efforts to expand from automotive parts and accessories into complementary verticals, and how PARTS iD is responding to current events.
Highlights:
Nino describes the three things that distinguish PARTS iD in the aftermarket parts and accessories industry (03:09)
Nino provides perspective on the scale of the business, describing PARTS iD's catalogue of over 18 million SKUs (07:19)
What are the verticals adjacent to PARTS iD's focus on automobiles? (10:06)
Nino explains why the iD brand is closely tied to the identities of their customers (14:30)
Nino walks through how PARTS iD is expanding their offering to appeal to customer's who want a "do it for me" experience (18:41)
How is PARTS iD preparing for the electric vehicle revolution? (21:56)
Nino explains why he points to Wayfair's business model as comparable to PARTS iD's (24:54)
Nino comments on the way PARTS iD is handling market changes dues to global events (26:33)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
James Foster, CEO at ZeroFOX — Heading Off Hackers : Why external cybersecurity is not just a defensive sport
16 Jun 2022
00:27:05
Summary:
As threat volume and complexity grows, cyber attacks are quickly becoming one of the biggest concerns facing companies today. When the pandemic accelerated the shift towards digital, and employees around the world began logging in to work from anywhere, the threat of data being compromised only deepened. This is a big problem, not only for businesses, but for the stakeholders who put their trust in them. Cybercriminals are getting bolder, and cyber risks are always evolving. To protect your organization, you need a solution that evolves alongside the threat.
Today's guest is doing the critically important work of developing effective cybersecurity solutions. James C. Foster is a world-renowned thought leader on cybersecurity, and founder and CEO of ZeroFOX. Foster has published over a dozen books, holds several patents, and has spoken on Capitol Hill about the increase in international cyber threats. Prior to founding ZeroFOX in 2013, Foster founded the cybersecurity company Ciphent which he grew to almost a hundred employees and a thousand customer before it was acquired by Accuvant in 2010. He's also worked with several high-growth cybersecurity organizations and executed on exit strategies for companies like Foundstone, Guardent, and Information Security Magazine, and as an advisor for the United States Department of Defense.
In this episode, I speak with Foster about pressing external cybersecurity concerns, ZeroFOX's recent public transaction with L&F Acquisition Corp, and where he sees market opportunity in the coming years.
Highlights:
Foster explains external cybersecurity, and how ZeroFOX works to eradicate those risks for businesses (02:52)
Foster describes the effects the pandemic and the ongoing shift towards digital have had on the business (05:46)
What is the market opportunity for external cybersecurity? (07:14)
Foster explains the rate of cyberattack in recent years, and how a company like ZeroFOX can help ease the minds of execs (08:55)
ZeroFOX's public transaction with L&F Acquisition Corp, and their acquisition of IDX (12:37)
Foster talks through ZeroFOX's recurring revenue model (18:22)
Who are ZeroFOX's clients, and where do they see opportunity in the market for expansion?(20:02)
Foster comments on the way global events like Russia's invasion of Ukraine affect cybersecurity around the world (22:22)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Kyle Kostesich, Executive Creative Director at ICR — ICR Industry Reports: Branding + Creative Practice
08 Jun 2022
00:20:11
Summary:
Your brand is your promise. It's how you signal to stakeholders who you are and what you stand for. With so much on the line, it's no wonder that a messy brand can have a huge impact on your business.
Joining me for this installment of ICR Industry Reports, the mini-series where we profile some of the industry leaders within ICR, is Kyle Kostesich. Kyle is the Executive Creative Director for ICR's Branding + Creative practice, having spent the last 15 years leading ICR's creative teams in the areas of branding, marketing, digital media, web design, and more. Coming from a diverse creative background, Kyle has worked with clients across numerous sectors, developing successful campaigns for luxury brands, like The Ritz-Carlton, global financial giants, like Mirae Asset, well-known consumer names, like Planet Fitness, and healthcare industry titans, like Pfizer.
In this episode, I speak with Kyle about the elements of a strong branding strategy, how the Branding + Creative practice adds value for ICR clients, and the long-term benefits of creating a great brand, both internally and externally.
Highlights:
Kyle's career path: from graphic designer to ICR (02:32)
Kyle describes the characteristics of an untidy brand (05:43)
How a great brand can differentiate your company (07:52)
How companies should be thinking about keeping their websites fresh (11:55)
How Kyle works with management teams to form alignment on branding decisions (16:41)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Marc Silverberg, Partner at ICR — ICR Industry Reports: Energy, Sustainability & Modern Mobility
01 Jun 2022
00:15:55
Summary:
This week: the next of our ICR Industry Reports. In this mini-series we profile some of ICR's industry experts, and hear about what they're observing at the frontlines of their fields.
My guest today is Marc Silverberg, Partner and head of ICR's Energy, Sustainability & Modern Mobility investor relations practice. His team specializes in working with companies across the ESM ecosystem, with focus areas including electric vehicles, battery technology, and renewable energy among others. Marc joined ICR in 2015, bringing with him over 17 years of experience in the capital markets industry. Before coming to ICR, Marc served as a Director of Investments at Oppenheimer, and as Vice President of the energy and equity research team at Barclays and Lehman Brothers.
In this episode, I speak with Marc about the biggest challenges he sees facing the companies he works with, how they are thinking about the future, and how sustainability-focused companies can differentiate their ESG stories.
Highlights:
How Marc's career path led him to ICR (02:32)
Marc describes his work in ICR's Energy, Sustainability & Modern Mobility practice (04:41)
What are the biggest challenges facing the companies Marc works with today? (06:57)
How Marc works with client to develop milestones and long-term goals (10:59)
Marc explains how companies in an industry already focused on sustainability can differentiate their ESG stories (13:38)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Russell Fleischer, General Partner at Battery Ventures — Supporting CEOs: How investment partners with firsthand operations experience can help
25 May 2022
00:28:34
Summary:
Growth through M&A can be hit or miss. Studies show that nearly half of these transactions fail to see value creation as a result of acquisition. Why is that? Well, one reason may be that M&A is disruptive to stakeholder relationships. The challenge for investment firms is to strike the ideal balance between creating enough change to see accelerated growth in the companies they acquire or invest in and preserving the brand and core values of those companies so that key stakeholders feel secure. Great investment partners are able to look beyond the bottom line so they can evaluate and adapt to the dynamic relationships that make each company unique. Firsthand operations experience can help.
Today's guest is Russell Fleischer, a former 3X software industry CEO and current general partner at Battery Ventures, a global technology-focused investment firm with a collaborative research style. At Battery, Russell is focused on new opportunities in the enterprise software sector, typically later stage transactions including buyouts, roll-ups, and take-privates. His experience as a CEO has allowed him to engage on a personal level with his portfolio company CEOs, coaching them and their teams to create more stakeholder value.
In this episode, I speak with Russell about Battery's research-driven approach to choosing investments, how current issues are affecting the tech industry, and how he approaches the human elements of mergers and acquisitions.
Highlights:
Russell describes his early career journey through the software sector (03:39)
Russell explains how his experience with private equity as a CEO led him to Battery (06:25)
The challenges of being a CEO, and why an investor with firsthand experience can help (10:27)
Why management teams shouldn't be afraid to make personnel changes (12:36)
Battery's research-driven approach to choosing investments (15:15)
Russell's observations of where the technology industry is moving geographically (18:52)
Russell shares his thoughts on how the tech industry has responded to recent market shifts (21:32)
Russell explains why he believes the social aspect of companies has such a huge impact on success during mergers (24:10)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Farah Soi, Partner at ICR — ICR Industry Reports: Consumer, Retail & Digital Commerce
18 May 2022
00:18:42
Summary:
This week is the first in a new mini-series profiling some of ICR's leading industry experts: ICR Industry Report. Alongside our usual content, this series will feature observations and analysis of what ICR's leaders are seeing in the market, and what trends they anticipate are coming up next in their verticals. These bite-size segments will be jam-packed with useful information to help you better understand the fields you're playing in.
My guest today is Farah Soi, Partner in ICR's Consumer, Retail & Digital Commerce group. Since joining ICR in 2010, Farah has helped retailers and consumer goods companies, from emerging growth companies, to pre-IPOs, to established market leaders, with their investor relations efforts, leaning on many years of investor experience on the buyer side to inform her advice. Prior to ICR, Farah spent six years at the hedge fund Fine Capital Partners, and was an associate vice president at Citigroup Asset Management.
In this episode, I speak with Farah about trends she has observed as the market recovers from the Covid-19 pandemic, inflation, and rapidly developing geopolitical events; the qualities she sees in great CEOs; and how her clients are succeeding at telling their ESG stories.
Highlights:
Farah lays out the work experience that brought her to ICR (03:23)
Farah describes ICR's Consumer, Retail & Digital Commerce group (05:48)
What are the biggest concerns facing Farah's clients today, and how are they responding to inflation, geopolitical uncertainty, and supply chain issues? (07:28)
Farah's take on what makes a great CEO (10:40)
How Farah's clients are telling their ESG stories (13:14)
What Farah believes investors miss when reviewing the performances of companies in periods of dislocation (15:41)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Conor Flynn, CEO at Kimco Realty — Realty Reality, Post Pandemic: Responsible REITs are more than just landlords
11 May 2022
00:33:29
Summary:
Real Estate Investment Trusts (REITs) can be pretty misunderstood as investment opportunities, particularly amongst younger investors. Their slow-and-steady pace and relative lack of volatility can lead investors looking for quicker action to focus on other asset classes. However, REITs have historically produced long-term capital appreciation and high, consistent dividend income at relatively low risk. For growth-oriented investors, they should be worth consideration.
Conor Flynn is the CEO of Kimco Realty, and my guest on this episode of Welcome to the Arena. Kimco is a real estate investment trust listed on the New York Stock Exchange under the symbol KIM. It's America's largest publicly traded owner and operator of open air, grocery-anchored shopping centers and mixed-use assets with approximately 540 properties and more than 93 million square feet of gross leasable space.
In this episode, I speak with Conor about the strategic choices that have positioned Kimco with their highest credit rating and strongest balance sheet to date, and what action they took to support their tenants during the Covid-19 pandemic.
Highlights:
Conor describes catching the real estate bug early in life, and how that led to his position at Kimco Realty (03:52)
Conor explains how Kimco has remained adaptable throughout its six decades in operation (08:53)
Conor unpacks the concepts of "necessity-based retail" and "the last mile" (10:47)
Conor acknowledges the ways Kimco stood by its tenants during the pandemic (13:57)
Conor talks through the strategies behind Kimco's acquisition of Weingarten Realty, and its investment in Albertsons (16:34)
Conor explains Kimco's capitalization and credit access (21:54)
Kimco's strategy for creating shareholder value (24:09)
Conor explains why he is keeping a watchful eye on inflation (27:08)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Matthew Tucker, Head of Tock – Data-Driven Dining: Optimizing the guest experience by reshaping reservations (re-broadcast)
03 Jul 2024
00:27:10
In the effort to recover from the impact of the pandemic, the hospitality industry has had a surge of innovation, ideas, and new technologies. And while the boost has been essential to getting the industry back on its feet, it has also intensified the competition. Today's guest is setting their company apart with a consumer-focused approach.
We're sitting down with Matt Tucker, who is the head of Tock, a technology driven hospitality business owned by Squarespace, and trading under the symbol SQSP.
Matt oversees commercial success and growth of the Tock business, which includes a reservation system, table management, carry-out operations and events for operators across 33 countries. Matt came to Squarespace after nearly two decades of experience building teams and operating companies of all sizes and has a strong background in hospitality tech and the startup world.
Most recently, Matt served as President and COO of Olo, the leading provider of SaaS solutions to the chain restaurant industry, serving almost 90,000 locations. He spent nearly nine years there, taking the company from 10 people and one product to a public company with over 700 team members, six core products and nearly 200 million in revenue.
Prior to Olo, Matt was on the founding team of LendingTree and was also the founder of Rely Software. He has an MBA from Georgetown and a BA in Political Science from the University of Michigan.
Highlights:
Matt's background and path to restaurant software (4:09)
Matt describes Tock's founding and current work (5:11)
How Tock works in the restaurant to optimize reservations (7:01)
Matt explains how Tock targets customers, and ROI agreements (8:35)
Data captured through Tock, and what makes Tock's approach to data optimization unique (10:34)
Matt talks about recent economic hurdles and how Tock has navigated the atmosphere (14:04)
Matt discusses Tock's versatility in the restaurant industry (16:11)
How Squarespace and Tock's work interconnect (17:49)
Field competition and the state of the restaurant technology market (20:00)
Tock's senior team and their history in hospitality (22:57)
Feedback: If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.
Eli Manning and Drew Sheinman, Partners at Brand Velocity Group — Pro Sports and Private Equity: A differentiated approach to managing PE portfolios
04 May 2022
00:25:42
Summary:
A company culture where you win together or lose together as a team gives everyone an incentive to perform at their best. It also creates supportive environments where strategic risk-taking is encouraged, opening the door to new opportunities. In private equity, a lot of scrutiny goes into every investment decision, but there's one factor that has historically been overlooked: human capital. However, there's been a shift in recent years. Companies ahead of the curve in recognizing value in the human element in their portfolio companies now have a chance to pull ahead in what is becoming an increasingly competitive space.
My guests today, Eli Manning and Drew Sheinman, are both partners at Brand Velocity Group. BVG is a PE firm with a unique investment approach, partnering with the companies they acquire to help them innovate and accelerate their businesses through specialized operating resources, in-house marketing, and their thoughtful approach to human capital. Before joining BVG as founding partner, Drew's career spanned time with William Morris Endeavor, Coca-Cola, Madison Square Garden, the Baltimore Orioles, the New York Mets, and the Breeders' Cup (among others). He's also made some significant industry contributions including developing new financial models for commercial real estate, and athletes becoming business owners. Eli Manning is a two-time Super Bowl winning NFL quarterback and two-time Super Bowl MVP, who has turned his attention to private equity and brings along an impressive track record of adding value to the brands he endorses, invests in, and is otherwise associated with.
In this episode, I learn about the ways BVG differentiates from other firms, and why they felt like the right fit for Eli as he was considering his next move post-retirement from the NFL.
Highlights:
BVG's differentiated approach to private equity (03:52)
Eli explains how he became involved with BVG (05:23)
Eli describes the benefits of BVG's marketing strategy, and why he enthusiastically supports their internal incentive program (07:15)
Drew explains the structure of BVG's high-profile accelerator program (09:05)
Drew shares how BVG is attempting to make private equity a more appealing industry for young talent entering the workforce (13:02)
Drew and Eli discuss The BBQ Guys and their association with the Manning family (14:15)
BVG's "white space opportunity" strategy, and their partnership with Original Footwear (18:53)
Why Jay Glazer is a good fit to represent Original Footwear (19:47)
Eli looks ahead to his future with BVG (21:06)
Eli's thoughts on the New York Giants' 2022 draft strategy (23:08)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Brian Kelsey, Voice Actor and Host of Ten Minutes With — Take it from a Talk Show Host : Building a brand from the bottom up
20 Apr 2022
00:26:55
Summary:
Before there was Apple, or Amazon, or Disney, or Google, there was a person with an idea, who was willing to put in the work to see that idea come to life. Across industries, there are common lessons to be learned from the stories of the entrepreneurial-minded people who have built successful brands from the bottom up.
One such person is my guest today, Brian Kelsey, a 25-year veteran of the television, radio, and voiceover industries. He's been a radio host on some legendary stations, has worked on The Howard Stern Show, and on Martha Stewart Living Radio, and has made appearances on Martha's TV show along with The Today Show, HGTV, FOX, and more. Most recently, Brian started a quirky celebrity talk show he began hosting out of his garage in 2019, called Ten Minutes With.
In this episode, I learn about the development of Ten Minutes With, and dig into the similarities between what goes into building a talk show in your garage, and what goes into building any other brand or business.
Highlights:
Brian answers some icebreaker questions (03:17)
Brian describes his industry experience (06:06)
Brian explains how he got started on Ten Minutes With (10:07)
Brian walks us through the structure of Ten Minutes With, including the special segments he does on the show (15:35)
Brian describes what makes a great interview (18:04)
Notable rejection letters Brian has received from potential guests (21:18)
Ten Minutes With's social media and distribution strategy (22:34)
Brian outlines his goals for the show, and what fans can expect to see next (24:00)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Joth Ricci, CEO at Dutch Bros Coffee — One Cup at a Time: How a simple model and strong mission can drive growth
06 Apr 2022
00:26:32
Summary:
With Covid-19 mandates relaxing and consumers eager to rejoin the real world, the beverage industry has been bouncing back over the last year. However, the landscape is not exactly what it used to be, and while doors are open, there are some new challenges to face. Changes in consumer habits as a result of the pandemic, along with the much-discussed supply chain issues, have forced many in the industry to reconsider best practices. 2021 even saw industry giant Starbucks close nearly 400 of their sit-down locations in favor of simplified, pick up and takeaway options. They're onto something, but they didn't get there first.
My guest today is Joth Ricci, CEO of Dutch Bros Coffee, a drive-through coffee chain headquartered in Oregon that has been having success with this model for years. It's a brand that has been a "30 year overnight success," and an amazing case study on building a culture that is foundational to stakeholder success.
In this episode, Joth explains the business model that helped Dutch Bros avoid the obstacles other retail beverage companies have experienced in the last few years, their plans to continue expanding into new geographical markets, and why their focus on employee satisfaction and company culture is paying off.
Highlights:
How Joth came to join Dutch Bros Coffee as CEO (03:22)
Joth talks through the premise of Dutch Bros Coffee (05:20)
Joth explains the advantages the Dutch Bros business model affords the company (06:30)
Why being a "people business" is central to Dutch Bros philosophy (07:47)
Joth explains how Dutch Bros has been expanding their market reach (12:00)
What Dutch Bros Coffee's recent IPO means to the company (13:30)
Joth explains new initiatives the company is taking, including their new rewards program (15:30)
Joth talks through some of the companies financials (19:10)
Joth explains the importance of philanthropy to Dutch Bros Coffee (22:45)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co.
Andy Rothman, Investment Strategist at Matthews Asia — Investing in China: Why misperceptions might have you missing out
16 Mar 2022
00:29:34
Summary:
In America, there are a lot of misconceptions about many aspects of Chinese culture and economic policy. These have become especially apparent over the last two years during the Covid-19 pandemic. However, many investors are curious about the opportunities to be found in China’s fast-growing market but while factors like the country’s political structure, ongoing trade wars with the US, and regulatory differences shouldn’t deter investment, it is important to understand the risks involved when it comes to investing in China.
Here to give us an insider’s perspective is Andy Rothman, an investment strategist at Matthews Asia, the largest dedicated active investor in Asia and China in the United States. Before heading to Matthews, Andy spent more than 20 years living and working in China, first as a student, then as an American diplomat. At Matthews, Andy is primarily responsible for developing research focused on China’s economic and political developments.
In this episode, Andy discusses the major shifts that have been happening in the Chinese economy both pre- and post-pandemic, the changing role of private companies in China, and his take on US/China economic policy and regulation.
Highlights:
A brief history of the modern Chinese economy (03:08)
The changing role of China’s public companies (04:54)
How Covid-19 affected China’s role in the global supply chain (07:25)
China’s shift away from a manufacturing economy (09:47)
Andy’s take on the status of the Chinese residential property market (11:19)
Andy describes the easing cycle China is going through this year (16:09)
Factors that will affect whether Chinese public companies list in China or the US (18:25)
Andy describes the two “weather patters” occurring in the Chinese economy (21:33)
Positive steps from the Biden Administration in US/Chine policy (24:58)
Andy’s take on China’s relationship to the Russia/Ukraine conflict (26:43)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co.
Dux Raymond Sy, Chief Brand Officer at AvePoint — Business' Brand New Era: Building brand visibility and reputation post-pandemic
09 Mar 2022
00:28:12
Summary:
In 2021, the average person was estimated to encounter between 6000 and 10 000 ads every single day. And, with eyes more glued to screens than ever before, digital marketing, finding its way to us via smartphones and computers, accounts for a great deal of that ad consumption. Customers are constantly bombarded with messaging telling them to “buy now,” but in increasingly crowded markets of near-identical competitors, how can you convince them to not just “buy now,” but buy you. That’s where brand (your company’s unique identity and reputation) comes in.
This week’s guest, Dux Raymond Sy, is a brand expert who will help unpack the advantages of building brand into your business strategy. Dux is the Chief Brand Officer at AvePoint, a NASDAQ listed company under the symbol AVPT. Founded in 2001, AvePoint is the largest independent software vendor of SaaS data solutions for Microsoft 365 and they migrate, manage and protect data in Google, Microsoft Cloud, SharePoint, and Salesforce, optimizing SaaS operations and secure collaboration.
In this episode, Dux describes the differences between marketing strategy and branding strategy, how AvePoint is establishing their brand based on customer confidence, and the digital marketing shifts he has seen in the SaaS space coming out of the pandemic.
Highlights:
From poser to pro: Dux’s journey to brand and marketing (03:21)
Dux unpacks brand vs. marketing and the characteristics of a memorable brand (06:59)
Dux describes AvePoint’s history and purpose (08:35)
How to approach brand management across cultures in a global company (11:27)
How AvePoint adapted to Covid-19 conditions (12:26)
Dux’s take on the long term impacts of the pandemic on brand and marketing (15:51)
Dux explain AvePoint’s new #SaaSInStyle campaign (18:05)
How AvePoint is diversifying their offering (22:17)
Why B2B SaaS companies should be looking to market on non-traditional Platforms (24:22)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co.
Dave Tayeh, Head of Private Equity North America at Investcorp — Investing in Relationships: The people side of private equity
03 Mar 2022
00:26:02
Summary:
The private equity industry has a reputation for being, well, pretty private. That’s been changing over the course of the last decade and where PE firms used to keep their cards close to their chest, they are increasingly championing transparency. That shift allows investors to form more informed assessments, and businesses looking to sell are able to have a better understanding of who they’re working with and how their interests align.
Relationships are an important factor to evaluate in investment decisions. Dave Tayeh, Head of Private Equity North America at Investcorp knows that well, having had experience as both an operator and an investor. At Investcorp, a global manager of alternative investments, Dave and his team leverage their global platform and resources to drive growth and value in the companies and relationships they invest in.
In this episode, Dave explains how he evaluates opportunity when deciding which companies to partner with, his perspective on how the private equity game has changed over time, and the investment strategies his team employed to support their portfolio throughout the pandemic.
Highlights:
Introduction to Dave’s career at Investcorp (03:16)
Dave describes Investcorp and their mission (05:44)
Why private equity wants to partner with founders (06:48)
What differentiates Dave and his team at Investcorp (08:19)
Dave describes the six verticals they invest in (09:58)
The case study of Wrench (11:00)
Dave’s philosophy on leverage (12:26)
How Investcorp weathered the storm of Covid-19 (14:15)
Dave explains why managing people and relationships is key to PE strategy (18:53)
Dave provides his opinion on how private equity has changed over the last 20 years (21:00)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.
Lyndon Park, Partner & Head of ICR Governance Solutions — Embracing ESG: Finding value in your company's values
09 Feb 2022
00:28:11
Summary:
In recent years, ESG has become a hot button topic for almost all companies, public and private alike. As conversations around environmental and social issues continue to gain momentum, opportunities can present themselves for companies willing to stop playing defense with ESG and start using it as an offensive tool. Investment stories and ESG stories are quickly merging and with disclosures on ESG factors becoming standardized and related shareholder activism continuing to rise, companies who are not prepared may be left behind.
There to give them a boost is Lyndon Park, Head of Governance Solutions at ICR where he guides boards and management teams through the complexities of ESG and corporate governance to align with investor and market expectations. A former executive at BlackRock and recognized thought leader in the field, Lyndon is an expert advisor on issues ranging from shareholder activism and ESG to board composition and succession planning.
In this episode, Lyndon Park shares how ESG plays into investment strategies, he takes a deep dive into shifting rating standards, and he looks into how future trends in ESG will impact both public and private companies.
Highlights:
Introduction to Lyndon Park and his route to ESG (02:56)
Why ESG should be viewed as an opportunity (06:10)
Approaching ESG incrementally (08:39)
Fitting ESG goals into existing framework (09:33)
How silo thinking within an organization can cause issues on ESG votes (12:45)
“Looking at ESG from the value perspective, and not values perspective.” (14:39)
The consolidation of rating standards (16:19)
How Lyndon helps companies integrate ESG during an IPO and beyond (20:00)
How private companies should be thinking about ESG (22:09)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co.
Stan Chia, CEO & Board Director at Vivid Seats — Winning a Seat at the Table: Entering established markets
02 Feb 2022
00:27:56
Summary:
Breaking into a market controlled by prominent players can be daunting, but competition breeds innovation and when newcomers are successful it usually means big benefits for consumers and investors. Vivid Seats (online ticket marketplace), led by CEO Stan Chia, is one of those success stories.
Vivid Seats has carved out a space for themselves in an industry that has historically been dominated by big names like TicketMaster and StubHub by focusing on customer service and consumer engagement. Despite the hit live events and ticketing took from cancellations and postponements brought on by the COVID-19 pandemic, they recently went public, and acquired sports gaming app “Betcha” soon after, showing no signs of slowing down their impressive growth anytime soon.
In this episode, Stan Chia shares what Vivid Seats is doing differently than the other profitable players in the ticketing space, he breaks down how Vivid Seats was able to maintain customer trust throughout the pandemic, and he explains why they're a great example of a how a SPAC transaction can go right.
Highlights:
Introduction to Stan Chia and Vivid Seats (2:16)
What going public means for Vivid Seats (5:16)
Vivid Seats’ acquisition of Betcha (6:36)
The Vivid Seats team and workplace culture (8:11)
How Vivid Seats differentiates itself in the industry (10:03)
Why user engagement is important to Vivid Seats (14:07)
How Vivid Seats is investing in technology (15:00)
How Vivid Seats is moving forward after the pandemic (17:06)
Why going public via SPAC was the right move for Vivid Seats (20:30)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co.
Steve Glenn, CEO of Plant Prefab — Building Better Businesses: Efficient and eco-conscious construction
19 Jan 2022
00:31:18
Summary:
Here’s a quick word association. What comes to mind when you hear the word, “construction.” Your first thought probably wasn’t “efficient,” but CEO Steve Glenn and his company, Plant Prefab, are trying to change that. Plant Prefab creates architect-designed custom homes held to the highest environmental standards and, because they fabricate structural pieces at production facilities simultaneously to onsite construction, they operate much more efficiently than companies using traditional methods.
The construction sector is vast, with every niche having multi-billion dollar potential. Companies that can set themselves apart through innovation have a lot to gain. Reliability, efficiency, and an eco-friendly mission that appeals to both socially conscious consumers as well as developers trying to keep up with ever-stricter government regulations are helping Plant Prefab stand out from the competition. In an industry where cost of labor is a particular pain point, the ability to streamline and regulate the building process is in increasingly high demand, especially in the urban infill corner of the market where Plant Prefab thrives.
In this episode, Steve Glenn shares his insights on the massive investment opportunity that is the real estate and construction market, and what Plant Prefab is doing to continue setting new standards of efficiency and sustainability in the industry.
Highlights:
Introduction to Steve Glenn and Plant Prefab (2:26)
Why Plant Prefab is a technology company (6:10)
Plant Prefab’s investors (8:19)
Pros and cons to focusing on urban infill (12:39)
The stats on Plant Prefab vs. traditional building methods (16:15)
Achieving carbon neutrality (19:08)
The “hub and spoke” model of manufacturing facilities (22:05)
Efficiency and sustainability in the construction industry (26:33)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co.
Chris Rondeau, CEO of Planet Fitness — It Works Out in the End: The future of fitness
12 Jan 2022
00:30:17
Summary:
When businesses were forced to shut down during the Covid-19 pandemic, gyms found themselves particularly vulnerable. One company that managed to weather the storm (without losing a single location) and is now poised to come back stronger than ever is Planet Fitness. In this episode, we hear from the CEO of Planet Fitness, Chris Rondeau.
From working the front desk of a single location in New Hampshire, to CEO of a public company with 2000+ locations, Chris Rondeau takes us through the evolution and success of Planet Fitness in his almost 30 years with the company, and offers a sneak peek of what investors can expect from the gym chain in the future. Between their focus on creating a judgement-free environment perfect for first-time gym goers, and an economic model that makes franchising profitable and relatively simple, Planet Fitness stands to take full advantage of the “fitness boom” Rondeau is predicting in the near future.
In this episode, we'll hear from Chris on how Planet Fitness is continuing to grow their already over 15 million members by centering the mindset of their specific clientele, investing in ways technology can add additional value, and honing in on how to attract the already fitness-minded Gen Zers who are aging into membership.
Highlights:
The origin stories of Planet Fitness and Chris Rondeau (2:12)
How they knew the economic model worked for franchising (6:32)
Effects of the Covid-19 pandemic on the gym industry (8:25)
Redefining the industry: Wellness vs. Vanity (11:06)
Real estate and providing value to landlords (12:15)
Digital innovation in the fitness industry (14:52)
New Year’s Eve and capitalizing on January’s resolution-makers (18:52)
Investors and how Planet Fitness makes money with $10/month membership (21:14)
Imagining the future of Planet Fitness (25:39)
Creating value for shareholders and stakeholders (28:38)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co.
Chef Ming Tsai, TV Personality, Entrepreneur, & Founder, MingsBings – Bing-ing Together Tradition and Innovation: Transforming the Freezer Aisle with Health and Taste
26 Jun 2024
00:29:49
In a landscape where standing out demands both innovation and accessibility, finding ways to connect with a broad audience is crucial. Today's guest has been on a career-long quest to revolutionize the culinary world by blending tradition with modernity, creating products that not only appeal to diverse audiences but also prioritize health and taste.
Today we are lucky enough to sit down with Chef Ming Tsai, who is not only an Iron Chef, he's also a James Beard and Emmy Award winner, and a Chef-partner at BABA at the Yellowstone Club in Big Sky, Montana. He's also President of the National Advisory Board for Family Reach and the author of five cookbooks.
Chef Ming was the host and the Executive Producer of the longest-running cooking series on PBS, Simply Ming, and just received acclaim for his new mini-series titled Simply Ming: Better for You. He founded MingsBings, a consumer packaged goods startup bringing chef quality, better-for-you, convenient food to the frozen food aisle.
Beyond being the first East meets West option of its kind, MingsBings supports the mission of the Dana Farber Cancer Institute and Family Reach. To date, Chef Ming has helped raise $12 million for Family Reach.
In 2022, Chef Ming became Iron Chef Ming Tsai as he joined the cast of five world-class chefs in the Netflix series, Iron Chef: Quest for an Iron Legend.
Highlights:
Chef Ming's first cooking experiences, and introduction to the culinary world (4:21)
Chef Ming's favorite dishes from childhood (7:19)
What Chef Ming learned from his family's restaurant (7:46)
How Chef Ming adjusted from Chef to businessperson (8:44)
Early mistakes and lessons from running a restaurant (10:54)
Chef Ming explains his East meets West cuisine style and influence (11:45)
Work in the TV and entertainment industry (14:35)
Chef Ming discusses his time on Iron Chef (16:50)
Chef Ming's approach to writing cookbooks (18:07)
The inspiration behind MingsBings (19:17)
Philanthropic work for Family Reach (21:54)
Chef Ming tells stories about his famous friends in the culinary world (25:21)
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.
Jason Kelly, Bloomberg Quicktake— Good News: How the media can help your business
05 Jan 2022
00:41:33
Summary:
With fast-growing private and public companies, you’re often juggling a lot of stakeholders: management, employees, board members, investors. But there’s one key stakeholder that’s often forgotten: the media. But ignore them at your peril. They control a huge portion of the narrative and public image of your company—and if you haven’t established the relationships and trust to tell your story, then they’re going to tell it for you.
Fortunately, there are journalists like Jason Kelly. Jason has spent almost 20 years reporting on business at Bloomberg in a variety of capacities, from New York Bureau Chief to his current role as Chief Correspondent for Bloomberg Quicktake, Bloomberg’s “Business Network for the New Generation.” He’s also authored two books, The New Tycoons on the rise of private equity, and Sweat Equity on the fitness economy. In his role, he’s been able to observe some giants of the industry, learn what makes businesses tick, and forge relationships with leaders across sectors.
We sat down to talk about Jason’s approach to business journalism, and his new pursuits at the nexus of business, sports, and culture. He’ll share his philosophy on asking tough questions, the benefits of longstanding relationships with the media, and why CEOs should depart more often from their talking points. So join us! Because in the arena, all news is good news.
Highlights:
What makes a great journalist (1:16)
How to publish things people don’t like (3:00)
The power of relationships (4:59)
Consumption changes in an on-demand world (10:42)
QuickTakes: The intersection of sports, business, and culture (13:20)
What Jason learned from The Last Dance (17:13)
Making representation possible through “Portrait” (20:50)
How writing a book let Jason engage with subjects in a different way (24:30)
The most interesting person Jason’s interviewed (26:57)
Jason’s observations on the business storylines going forward (28:46)
The world moves on fast from mistakes (34:23)
“In an era where you’re tempted to say less, say more” (35:49)
If you have questions about the show or topics you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co
Brian Gonick, Co-CIO of Senvest — Diamonds in the Rough: Finding the value that everyone else ignores
15 Dec 2021
00:32:14
Summary:
Investing in stocks that the market has passed by is certainly risky, but that's right where Co-Chief Investment Officer Brian Gonick and his team at Senvest find value. Through strong understanding of management, a discerning eye, and techniques adopted from the CIA, Senvest find stocks with the potential for exponential long-term growth.
Brian Gonick highlights how Senvest look to invest over an extended period of time, showing how important they view their horizons. To be part of the Senvest journey, you need to understand a thing or two about community. Developing strategies and building networks are two pieces of the investment puzzle, as far as Senvest are concerned.
On this episode, we'll understand how Brian and his company set out to bring companies together for a brighter and more profitable future. For Senvest, getting from point A to B is the ultimate goal, but they believe as long as milestones are being hit, success will follow.
Highlights:
Outlining Senvest's investment strategy (0:19)
How they implement FBI questioning tactics with potential companies (7:15)
Brian's biggest success story (9:52)
When situation trumps sector (14:06)
Examples of the view on value to growth (15:41)
How Senvest is using data like never before (20:31)
Why hitting milestones and achieving expectations is key for Senvest (27:08)
If you have questions about the show or topics you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co
Paddy Spence, CEO & Amy Taylor, President of Zevia — Can-do!: The benefits of being nimble in the beverage industry
08 Dec 2021
00:33:18
Carbonated beverages and health don't often go hand in hand, but Zevia intends to change that. By using plant-based ingredients and all-natural sweeteners, Zevia eliminates sugar, GMO's and artificial ingredients from the equation. They deliver drinks that fly off the shelves, both in-store and online; they rank as the number-one sold beverage on Amazon. But their commitment doesn't stop at great taste. CEO Paddy Spence and President Amy Taylor are passionate about consumer health and eliminating plastic waste. Together, the two of them have developed a company that goes way beyond the can.
During the COVID pandemic, as with many beverage companies, Zevia has found itself facing many difficulties, like aluminum shortages and customers who don't want to shop in person. But through their resilient nature, nimble structure, and "can-do" attitude, Paddy and Amy have gone from strength to strength. Advancing on scalability, developing in-store strategies and strengthening the balance sheets has made Zevia one of the major players in the beverage market.
On this episode, we discuss Zevia's commitment to health and sustainability and how its agile strategy has positioned it well for the future. We'll talk about how Paddy and Amy dealt with supply chain issues and how they partner with retailers to position their brand in-store, as well as their strategies to engage new demographics. Listen on for a refreshing conversation!
Highlights:
Removing sugar from their products and using non-plastic materials (2:24)
Creating customer convenience (3:38)
Developing consistent platform strategy (4:20)
How Zevia is all-inclusive for both the customer and investor (7:18)
Building an accessible product for customers (13:43)
How Zevia are both premium and affordable (19:11)
Getting the market to understand their context and mission of their product (23:54)
Providing a product for the new generations that has great taste but is also healthy(27:23)
If you have questions about the show or topics you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co
Syed “Raj” Imteaz, Partner, Head of Convertible and Equity Derivatives, ICR – Inflation Insulation: Navigating complex capital markets with advisory expertise
19 Jun 2024
00:18:51
In the current macro environment with growing inflation and financial uncertainty, it's no wonder companies are actively seeking alternative solutions to safeguard their businesses. But today's guest is more than just an alternative; he's a game-changer for his clients, helping them maximize their financial outcomes.
Today we're sitting down with Raj Imteaz, who serves as the Head of ICR Capital's Convertible and Equity Derivatives Advisory Team, where he focuses on complex capital markets transactions across all industry verticals. Raj advises boards and management teams on structuring and executing convertible debt transactions, convertible preferred and mandatory offerings, structured share repurchases, cap calls and call spreads, hedging and monetization strategies, and warrant management solutions.
Raj joined ICR Capital from Matthew South, where he was the Head of Technology origination, advising clients on multiple convertible and equity derivatives transactions. Previously, Raj spent 15 years at Barclays, where he was a Managing Director in the equity-linked and hybrid solutions team and led the origination efforts across several sectors.
During his career, Raj has advised on and executed more than 200 convertible and equity derivative transactions, totaling over a hundred billion dollars of deal value.
Highlights:
Raj gives us an overview of the current economic environment (4:03)
What a convertible is and the role of advisors (6:01)
How advisors can save businesses time and money (8:45)
What makes Raj's team of advisors unique (10:18)
Raj describes some of his team's stand-out deals (13:41)
Feedback: If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.
Bob McCooey, Nasdaq — After IPO Day: A look into securities exchange and the logistics of foreign markets
29 Sep 2021
00:32:11
Highlights:
Bob's change of career from brokerage to Nasdaq (5:06)
The modern services Nasdaq provide (5:52)
How Nasdaq provides an exceptional experience to listed companies (10:39)
Consolidation and trends among the exchanges (14:17)
A look at some of the companies that Bob has counseled (18:39)
Next steps in building Nasdaq brand globally (24:18)
If you have questions about the show or topics you'd like discussed in future episodes, email our producer, andrew@lowerstreet.co
Laird Bieger, Baron Capital Group — Eyes on the Buys: What the Buy-Side Looks for When Investing
01 Sep 2021
00:27:02
The buy-side has analysts that know your industry, so why don't you know the universe of buyers? Asset managers have different strengths and different strategies. Knowing the players will help you find the best investment partner for your business. It also helps to know what they're looking for. On this episode, Laird Bieger, Vice President and Portfolio Manager of the Discovery Fund at Baron Capital, gives us a peek behind the curtain of a successful fund. What makes them confident enough to invest in a business, and how can you position yourself to receive that investment?
Highlights:
The blessing and the curse of investing in small-cap off-the-radar businesses (7:10)
Why the Discovery Fund focuses on specific subsectors (12:00)
Why Laird loves talking to middle management when researching a company (13:46)
The questions Laird asks to discern a company's growth potential (16:37)
What is a "shadow list" (17:53)
Why you should be more transparent when things are going poorly (19:30)
Why it can be beneficial to be conservative in your guidance estimates (20:52)
The importance of a bulletproof balance sheet (22:08)