Building a Company in Stealth | Travis Kalanick with a16z

We know what Uber's 2017 was like. We know what Uber's 2017 was like. >> Travis Kanic has stepped down from his >> Travis Kanic has stepped down from his >> Travis Kanic has stepped down from his role as chief executive. role as chief executive. role as chief executive. >> That wouldn't have gone that way if Ben >> That wouldn't have gone that way if Ben >> That wouldn't have gone that way if Ben or Mark was on the board. You're in this or Mark was on the board. You're in this or Mark was on the board. You're in this hell. You're dealing with the lawsuits. hell. You're dealing with the lawsuits. hell. You're dealing with the lawsuits. >> You worry about the lawsuit >> You worry about the lawsuit >> You worry about the lawsuit >> and you say, "Hey, let's build again." >> and you say, "Hey, let's build again." >> and you say, "Hey, let's build again." It's not as much about where you start. It's not as much about where you start. It's not as much about where you start. It's about why you start. It's about why you start. It's about why you start. >> He's one of the very rare guys who made >> He's one of the very rare guys who made >> He's one of the very rare guys who made as much money as he did and wanted to as much money as he did and wanted to as much money as he did and wanted to keep playing. Also remember I did it keep playing. Also remember I did it keep playing. Also remember I did it stealth. stealth. stealth. >> I know some of the techniques I use very >> I know some of the techniques I use very >> I know some of the techniques I use very aggressive but that name you can't use aggressive but that name you can't use aggressive but that name you can't use that name. that name. that name. >> And I remember David Drummond from >> And I remember David Drummond from >> And I remember David Drummond from Google was on our board and he's like no Google was on our board and he's like no Google was on our board and he's like no Travis that's not a thing dude. Travis that's not a thing dude. Travis that's not a thing dude. [laughter] You got to change it. The [laughter] You got to change it. The [laughter] You got to change it. The meaningful thing about [music] Adam's meaningful thing about [music] Adam's meaningful thing about [music] Adam's food is can you make the preparation and food is can you make the preparation and food is can you make the preparation and delivery of a quality meal so efficient delivery of a quality meal so efficient delivery of a quality meal so efficient that it approaches the cost of going to that it approaches the cost of going to that it approaches the cost of going to the grocery store? If it does, you do to the grocery store? If it does, you do to the grocery store? If it does, you do to the kitchen what Uber did to the car. the kitchen what Uber did to the car. the kitchen what Uber did to the car. >> A lot of that idea to build [music] a >> A lot of that idea to build [music] a >> A lot of that idea to build [music] a company, a great company. It's always a company, a great company. It's always a company, a great company. It's always a great entrepreneur. >> Travis, this is the I'm back podcast. >> Travis, this is the I'm back podcast. This is the return of the kingd episode. This is the return of the kingd episode. This is the return of the kingd episode. Um, Um, Um, >> return of the mech. That's [laughter] >> return of the mech. That's [laughter] >> return of the mech. That's [laughter] >> I'm all about we can return. >> I'm all about we can return. >> I'm all about we can return. I don't know what the right thing is, I don't know what the right thing is, I don't know what the right thing is, but we got to come up with a walk but we got to come up with a walk but we got to come up with a walk walk-on song for sure. walk-on song for sure. walk-on song for sure. >> Return of the Mac. return. >> Return of the Mac. return. >> Return of the Mac. return. >> And it's not just it's not just a return >> And it's not just it's not just a return >> And it's not just it's not just a return of Travis, but it's also a return of of Travis, but it's also a return of of Travis, but it's also a return of this partnership or or what could have this partnership or or what could have this partnership or or what could have been uh and this relationship with been uh and this relationship with been uh and this relationship with Travis and Ben. So, I want to read a Travis and Ben. So, I want to read a Travis and Ben. So, I want to read a quote from Travis from your launch post. quote from Travis from your launch post. quote from Travis from your launch post. I've known Mark and Ben for a long time I've known Mark and Ben for a long time I've known Mark and Ben for a long time and we got oh so close to partnering up and we got oh so close to partnering up and we got oh so close to partnering up at Uber in 2011. I Travis blame Mark. at Uber in 2011. I Travis blame Mark. at Uber in 2011. I Travis blame Mark. Ben blamed himself, but let's just say Ben blamed himself, but let's just say Ben blamed himself, but let's just say it was all on us and it was it was on it was all on us and it was it was on it was all on us and it was it was on all of us. And in 2017, Uber suffered all of us. And in 2017, Uber suffered all of us. And in 2017, Uber suffered the consequences of not having Mark on the consequences of not having Mark on the consequences of not having Mark on the board. If you know, you know. the board. If you know, you know. the board. If you know, you know. Travis, tell the story. Travis, tell the story. Travis, tell the story. >> Okay. So, um, this will be interesting >> Okay. So, um, this will be interesting >> Okay. So, um, this will be interesting because I think Ben and I have maybe because I think Ben and I have maybe because I think Ben and I have maybe discussed this once or twice. discussed this once or twice. discussed this once or twice. >> Yeah. Painful >> Yeah. Painful >> Yeah. Painful >> and and I think that there could >> and and I think that there could >> and and I think that there could >> I'm not sure if there's a difference of >> I'm not sure if there's a difference of >> I'm not sure if there's a difference of opinion on what happened, but I'll tell opinion on what happened, but I'll tell opinion on what happened, but I'll tell you what I thought happened. you what I thought happened. you what I thought happened. >> So, I'm in fundraising mode. This is our >> So, I'm in fundraising mode. This is our >> So, I'm in fundraising mode. This is our series B. This is 2011. Uber started series B. This is 2011. Uber started series B. This is 2011. Uber started 2010, June 2010. 2010, June 2010. 2010, June 2010. >> I'm raising our series B. Earlier that >> I'm raising our series B. Earlier that >> I'm raising our series B. Earlier that year, I did series A with uh VCL Main year, I did series A with uh VCL Main year, I did series A with uh VCL Main Remain Nameless. Remain Nameless. Remain Nameless. And uh I'm hardcore And uh I'm hardcore And uh I'm hardcore like it's interesting. I was such I went like it's interesting. I was such I went like it's interesting. I was such I went through such tough times as an through such tough times as an through such tough times as an entrepreneur pre- Uber that once I'm in entrepreneur pre- Uber that once I'm in entrepreneur pre- Uber that once I'm in Uber and things are working, I'm still Uber and things are working, I'm still Uber and things are working, I'm still acting like acting like acting like I'm not going to eat tomorrow. I'm not going to eat tomorrow. I'm not going to eat tomorrow. So I I would do everything So I I would do everything So I I would do everything right up to the line, like be perfect. right up to the line, like be perfect. right up to the line, like be perfect. And so I have this whole fundraising And so I have this whole fundraising And so I have this whole fundraising process that I would do just to process that I would do just to process that I would do just to perfection. And that means I'd run an perfection. And that means I'd run an perfection. And that means I'd run an auction. auction. auction. So met with A16Z guys, met with lots of So met with A16Z guys, met with lots of So met with A16Z guys, met with lots of folks. And it was a what I would call folks. And it was a what I would call folks. And it was a what I would call winner takes all auction, meaning winner takes all auction, meaning winner takes all auction, meaning there's one major lead. there's one major lead. there's one major lead. They're going to set the price and then They're going to set the price and then They're going to set the price and then everybody else will fall in. So I'd go everybody else will fall in. So I'd go everybody else will fall in. So I'd go to the one guy, you know, I'd tell him to the one guy, you know, I'd tell him to the one guy, you know, I'd tell him what the story was and uh they're like, what the story was and uh they're like, what the story was and uh they're like, "Oh, you know, we're interested. He's "Oh, you know, we're interested. He's "Oh, you know, we're interested. He's leaning forward." And I would, they're leaning forward." And I would, they're leaning forward." And I would, they're like, "So, how much you raising? What's like, "So, how much you raising? What's like, "So, how much you raising? What's the price?" And I I would do this thing the price?" And I I would do this thing the price?" And I I would do this thing where I would say, where I would say, where I would say, "Um, we don't know what like this is "Um, we don't know what like this is "Um, we don't know what like this is going to be one of the hottest deals in going to be one of the hottest deals in going to be one of the hottest deals in Silicon Valley this year. We don't know Silicon Valley this year. We don't know Silicon Valley this year. We don't know where the price is going to be, where where the price is going to be, where where the price is going to be, where it's going to go to, but it's at least it's going to go to, but it's at least it's going to go to, but it's at least blank." And I call this the uncapped blank." And I call this the uncapped blank." And I call this the uncapped anchor. Meaning, I'm never in a place anchor. Meaning, I'm never in a place anchor. Meaning, I'm never in a place where I'm negotiating with somebody where I'm negotiating with somebody where I'm negotiating with somebody where I'm here and they're here and we where I'm here and they're here and we where I'm here and they're here and we meet in the middle. I'm always saying meet in the middle. I'm always saying meet in the middle. I'm always saying it's at least this and it can go up, but it's at least this and it can go up, but it's at least this and it can go up, but I start low. I start low. I start low. >> So, it all go >> So, it all go >> So, it all go >> so that everybody's pumped, leaning >> so that everybody's pumped, leaning >> so that everybody's pumped, leaning forward. He's like, "Okay, you can see forward. He's like, "Okay, you can see forward. He's like, "Okay, you can see body language. You can read. It's good." body language. You can read. It's good." body language. You can read. It's good." >> You go to the next The next guy >> You go to the next The next guy >> You go to the next The next guy literally comes to your office. An hour literally comes to your office. An hour literally comes to your office. An hour later, later, later, same thing happens. He's fired up. I'm same thing happens. He's fired up. I'm same thing happens. He's fired up. I'm showing all the analytics. It's great. showing all the analytics. It's great. showing all the analytics. It's great. Uh, okay. So, we're interested. What's Uh, okay. So, we're interested. What's Uh, okay. So, we're interested. What's What are you thinking about price? What are you thinking about price? What are you thinking about price? Whatever. I'm like, Whatever. I'm like, Whatever. I'm like, it's if the last one was at least 2x our it's if the last one was at least 2x our it's if the last one was at least 2x our previous round. It just became 3x. I'll previous round. It just became 3x. I'll previous round. It just became 3x. I'll say, "We don't know. One of the best say, "We don't know. One of the best say, "We don't know. One of the best deals in Silicon It's going to be one of deals in Silicon It's going to be one of deals in Silicon It's going to be one of the top deals in Silicon Valley this the top deals in Silicon Valley this the top deals in Silicon Valley this year, but it will be at least 3x our year, but it will be at least 3x our year, but it will be at least 3x our last round." And he's like, "Okay." You last round." And he's like, "Okay." You last round." And he's like, "Okay." You then go call the guy before and you're then go call the guy before and you're then go call the guy before and you're like, "Hey, just, hey, look, dude, just like, "Hey, just, hey, look, dude, just like, "Hey, just, hey, look, dude, just went from 2x to 3x." You know, went from 2x to 3x." You know, went from 2x to 3x." You know, >> we'll see where it goes. I don't know. >> we'll see where it goes. I don't know. >> we'll see where it goes. I don't know. They start getting nervous. Anyways, you They start getting nervous. Anyways, you They start getting nervous. Anyways, you get all the way to the top get all the way to the top get all the way to the top >> and then you go going once, going twice. >> and then you go going once, going twice. >> and then you go going once, going twice. And uh it's kind of funny in this And uh it's kind of funny in this And uh it's kind of funny in this particular case, Yuri was almost coming particular case, Yuri was almost coming particular case, Yuri was almost coming over the top. So, we got to 375 over the top. So, we got to 375 over the top. So, we got to 375 with 3775 million pre with A16Z. with 3775 million pre with A16Z. with 3775 million pre with A16Z. Yuri almost came in at 400, but he was Yuri almost came in at 400, but he was Yuri almost came in at 400, but he was like, "No, I can't do it." And so I'm like, "No, I can't do it." And so I'm like, "No, I can't do it." And so I'm like, "Okay, going once, going twice, like, "Okay, going once, going twice, like, "Okay, going once, going twice, sold." sold." sold." >> Yeah. >> Yeah. >> Yeah. >> And it's funny because that's a high >> And it's funny because that's a high >> And it's funny because that's a high momentum deal, and that's how you do it. momentum deal, and that's how you do it. momentum deal, and that's how you do it. And at the time, you almost should feel And at the time, you almost should feel And at the time, you almost should feel a little shy about doing something like a little shy about doing something like a little shy about doing something like that. And it's a little bit crass, let's that. And it's a little bit crass, let's that. And it's a little bit crass, let's just say, but that's how I was wired just say, but that's how I was wired just say, but that's how I was wired back in the day. Like just go all the back in the day. Like just go all the back in the day. Like just go all the freaking way, all the way. Like freaking way, all the way. Like freaking way, all the way. Like >> run the touchdown, like score the >> run the touchdown, like score the >> run the touchdown, like score the touchdown even when you're gonna, you touchdown even when you're gonna, you touchdown even when you're gonna, you know, it's a little much. know, it's a little much. know, it's a little much. >> So we're starting to work. you're going >> So we're starting to work. you're going >> So we're starting to work. you're going to get a term sheet going, the whole to get a term sheet going, the whole to get a term sheet going, the whole thing. And uh I get an email from Mark. thing. And uh I get an email from Mark. thing. And uh I get an email from Mark. Um and it was like uh hey, let's uh hey Um and it was like uh hey, let's uh hey Um and it was like uh hey, let's uh hey Travis like let's go to dinner. I think Travis like let's go to dinner. I think Travis like let's go to dinner. I think it was like tomorrow night or something it was like tomorrow night or something it was like tomorrow night or something like that. Let's go to dinner. And I like that. Let's go to dinner. And I like that. Let's go to dinner. And I said send me the term sheet and then said send me the term sheet and then said send me the term sheet and then yeah, we can go to dinner. And he yeah, we can go to dinner. And he yeah, we can go to dinner. And he responded he said let's go to dinner. responded he said let's go to dinner. responded he said let's go to dinner. And I'm like oh that didn't I didn't And I'm like oh that didn't I didn't And I'm like oh that didn't I didn't like that. So came down south this neck like that. So came down south this neck like that. So came down south this neck of the woods. of the woods. of the woods. >> Yeah. because I was in San Francisco >> Yeah. because I was in San Francisco >> Yeah. because I was in San Francisco and and and uh this little sushi place, I don't uh this little sushi place, I don't uh this little sushi place, I don't remember the name of it. And he said, remember the name of it. And he said, remember the name of it. And he said, "Look, I know we talked about 375, "Look, I know we talked about 375, "Look, I know we talked about 375, but went to the partnership. They don't but went to the partnership. They don't but went to the partnership. They don't agree or they just didn't think it was agree or they just didn't think it was agree or they just didn't think it was the right number. We're the best we're the right number. We're the best we're the right number. We're the best we're going to be able to do is 210. See that?" So that I'm just telling you See that?" So that I'm just telling you how it went down for me. how it went down for me. how it went down for me. >> Yeah. Wow. Well, >> Yeah. Wow. Well, >> Yeah. Wow. Well, >> and and so then I'm like >> and and so then I'm like >> and and so then I'm like >> story was definitely different on the >> story was definitely different on the >> story was definitely different on the other side, but other side, but other side, but >> so but I want it be interesting to hear >> so but I want it be interesting to hear >> so but I want it be interesting to hear it. it. it. >> I've got I've got more than the hour we >> I've got I've got more than the hour we >> I've got I've got more than the hour we have scheduled here if we want if we have scheduled here if we want if we have scheduled here if we want if we want to take time. But anyways, want to take time. But anyways, want to take time. But anyways, I had a high momentum deal. It went all I had a high momentum deal. It went all I had a high momentum deal. It went all the way to the top. I auctioned it, the way to the top. I auctioned it, the way to the top. I auctioned it, >> cleared the market, >> cleared the market, >> cleared the market, >> and the bottom came out from it. And so >> and the bottom came out from it. And so >> and the bottom came out from it. And so I had to go back to everybody else and I had to go back to everybody else and I had to go back to everybody else and say 210 is the new number. Yeah. say 210 is the new number. Yeah. say 210 is the new number. Yeah. >> Like, "Hey guys, the guy who won backed >> Like, "Hey guys, the guy who won backed >> Like, "Hey guys, the guy who won backed out. I'm now back at 210. We're starting out. I'm now back at 210. We're starting out. I'm now back at 210. We're starting the auction over." It was super awkward the auction over." It was super awkward the auction over." It was super awkward and weird because people you lose and weird because people you lose and weird because people you lose credibility in that moment. And I built credibility in that moment. And I built credibility in that moment. And I built it back up. And it back up. And it back up. And >> uh basically it ended up being Menllo >> uh basically it ended up being Menllo >> uh basically it ended up being Menllo Park. This is how Shervin got involved Park. This is how Shervin got involved Park. This is how Shervin got involved in Uber. in Uber. in Uber. >> And at some point I told Shervin to stop >> And at some point I told Shervin to stop >> And at some point I told Shervin to stop negotiating against himself because negotiating against himself because negotiating against himself because [laughter] he just kept driving it up [laughter] he just kept driving it up [laughter] he just kept driving it up without anybody else. I'm like, "Dude, without anybody else. I'm like, "Dude, without anybody else. I'm like, "Dude, you won, dude. It's fine. I didn't want you won, dude. It's fine. I didn't want you won, dude. It's fine. I didn't want the same thing to happen again. You know the same thing to happen again. You know the same thing to happen again. You know what I'm saying? what I'm saying? what I'm saying? >> Uh, so I'm I am very clear about the 375 >> Uh, so I'm I am very clear about the 375 >> Uh, so I'm I am very clear about the 375 and the 210 and the experience I had, and the 210 and the experience I had, and the 210 and the experience I had, but there may be another side of that but there may be another side of that but there may be another side of that story. story. story. >> Yeah. Well, you know, okay, let me just >> Yeah. Well, you know, okay, let me just >> Yeah. Well, you know, okay, let me just tell you what I actually remember. Um, tell you what I actually remember. Um, tell you what I actually remember. Um, and then what I kind of remember. So, I and then what I kind of remember. So, I and then what I kind of remember. So, I remember remember remember you came in for the pitch and I think it you came in for the pitch and I think it you came in for the pitch and I think it was just you. Yeah, that's that's was just you. Yeah, that's that's was just you. Yeah, that's that's >> which is uh by the way unusual. So >> which is uh by the way unusual. So >> which is uh by the way unusual. So normally people don't particularly in normally people don't particularly in normally people don't particularly in those days very rare that entrepreneur those days very rare that entrepreneur those days very rare that entrepreneur would come in with no team members on a would come in with no team members on a would come in with no team members on a deal that size. That was a big deal by deal that size. That was a big deal by deal that size. That was a big deal by the way that wasn't that was a high the way that wasn't that was a high the way that wasn't that was a high price deal at now it's like a [ __ ] price deal at now it's like a [ __ ] price deal at now it's like a [ __ ] 375. 375. 375. >> Yeah. You'd be like dude preede preede >> Yeah. You'd be like dude preede preede >> Yeah. You'd be like dude preede preede [laughter] [laughter] [laughter] >> pre pre >> pre pre >> pre pre and and and >> right >> right >> right >> yeah the pitch was super impressive. And >> yeah the pitch was super impressive. And >> yeah the pitch was super impressive. And then um the other thing I I I recall then um the other thing I I I recall then um the other thing I I I recall pretty closely was uh like Travis had pretty closely was uh like Travis had pretty closely was uh like Travis had definitely like read some of my blogs definitely like read some of my blogs definitely like read some of my blogs like I felt like oh we can win this. like I felt like oh we can win this. like I felt like oh we can win this. This is a deal. Um and we had the This is a deal. Um and we had the This is a deal. Um and we had the discussion and like it was clear like no discussion and like it was clear like no discussion and like it was clear like no we want to do the deal. Uh and at the we want to do the deal. Uh and at the we want to do the deal. Uh and at the time I was like time I was like time I was like I should really do this one but I wasn't I should really do this one but I wasn't I should really do this one but I wasn't the consumer guy. And then I, you know, the consumer guy. And then I, you know, the consumer guy. And then I, you know, I had a lot of board seats and a lot of I had a lot of board seats and a lot of I had a lot of board seats and a lot of >> I think it was like 16 board seats. It >> I think it was like 16 board seats. It >> I think it was like 16 board seats. It was something crazy. was something crazy. was something crazy. >> It was, it was just so I was like, uhh. >> It was, it was just so I was like, uhh. >> It was, it was just so I was like, uhh. And so And so And so I I gave it to Mark and John O. Ferrell I I gave it to Mark and John O. Ferrell I I gave it to Mark and John O. Ferrell um to do and then all I remember so I um to do and then all I remember so I um to do and then all I remember so I remember something different at this remember something different at this remember something different at this point, but I I got it all from them. So point, but I I got it all from them. So point, but I I got it all from them. So I wasn't there. Uh I wasn't there. Uh I wasn't there. Uh there was something about there was something about there was something about the employee option pool or some [ __ ] the employee option pool or some [ __ ] the employee option pool or some [ __ ] like I I I couldn't but it was one of like I I I couldn't but it was one of like I I I couldn't but it was one of these things where it's like these things where it's like these things where it's like okay okay okay okay but like I just assumed we were okay but like I just assumed we were okay but like I just assumed we were doing the deal and then the next thing I doing the deal and then the next thing I doing the deal and then the next thing I knew uh Shervin had the deal and I was knew uh Shervin had the deal and I was knew uh Shervin had the deal and I was like geez and and I regret I can't tell like geez and and I regret I can't tell like geez and and I regret I can't tell you how long because like so that was you how long because like so that was you how long because like so that was the beginning of my torture on on this the beginning of my torture on on this the beginning of my torture on on this thing. So I was like, "Fuck, I know we thing. So I was like, "Fuck, I know we thing. So I was like, "Fuck, I know we should do that deal. We lost a deal." should do that deal. We lost a deal." should do that deal. We lost a deal." And then um meanwhile uh And then um meanwhile uh And then um meanwhile uh Scott Weissen did a deal uh for the Scott Weissen did a deal uh for the Scott Weissen did a deal uh for the other company in the space, Lyft. Um and other company in the space, Lyft. Um and other company in the space, Lyft. Um and by the way, by the way, by the way, that kind of got off to a very very that kind of got off to a very very that kind of got off to a very very difficult start, you know, largely difficult start, you know, largely difficult start, you know, largely because of Uber. Um, so and you know in because of Uber. Um, so and you know in because of Uber. Um, so and you know in order to Dave and catch I ended up order to Dave and catch I ended up order to Dave and catch I ended up having to go on the board like I took having to go on the board like I took having to go on the board like I took over that board seat to kind of help over that board seat to kind of help over that board seat to kind of help them through that. them through that. them through that. >> And just so you understand my experience >> And just so you understand my experience >> And just so you understand my experience on the lift thing, it happened I believe on the lift thing, it happened I believe on the lift thing, it happened I believe a year later. a year later. a year later. >> Yeah. >> Yeah. >> Yeah. >> Almost to the day something like this >> Almost to the day something like this >> Almost to the day something like this and the deal on and the deal on and the deal on 210. 210. 210. [snorts and laughter] [snorts and laughter] [snorts and laughter] >> Was that was it really? I I don't >> Was that was it really? I I don't >> Was that was it really? I I don't >> I know. I'm just saying this is what the >> I know. I'm just saying this is what the >> I know. I'm just saying this is what the entrepreneur is going to remember, dude. entrepreneur is going to remember, dude. entrepreneur is going to remember, dude. You know what I'm saying? Holy cow. But You know what I'm saying? Holy cow. But You know what I'm saying? Holy cow. But anyway, so so I you know because if a anyway, so so I you know because if a anyway, so so I you know because if a company is in a lot of trouble that company is in a lot of trouble that company is in a lot of trouble that that's generally when I get called um that's generally when I get called um that's generally when I get called um you know given given my history with you know given given my history with you know given given my history with that. that. that. >> Oh man, I was working so hard on that. >> Oh man, I was working so hard on that. >> Oh man, I was working so hard on that. >> And so [sighs] >> And so [sighs] >> And so [sighs] >> I was working hard on that trouble. >> I was working hard on that trouble. >> I was working hard on that trouble. >> Oh my god, [snorts] it was a lot of >> Oh my god, [snorts] it was a lot of >> Oh my god, [snorts] it was a lot of trouble. It [laughter] was a lot of trouble. It [laughter] was a lot of trouble. It [laughter] was a lot of trouble. But anyway, so so I'm living trouble. But anyway, so so I'm living trouble. But anyway, so so I'm living with that. And then by the way, and then with that. And then by the way, and then with that. And then by the way, and then I would see Travis, I would see Travis, I would see Travis, you know, now and again like we had I you know, now and again like we had I you know, now and again like we had I had him over to my house, CEO barbecue, had him over to my house, CEO barbecue, had him over to my house, CEO barbecue, like all kinds of [ __ ] right? like just like all kinds of [ __ ] right? like just like all kinds of [ __ ] right? like just cuz like I knew who he was. cuz like I knew who he was. cuz like I knew who he was. >> Yeah. And we were kind of friends. We >> Yeah. And we were kind of friends. We >> Yeah. And we were kind of friends. We were like and it was always like a lot were like and it was always like a lot were like and it was always like a lot of like there was a of like there was a of like there was a >> there was a respect there because we >> there was a respect there because we >> there was a respect there because we knew who each other were. knew who each other were. knew who each other were. >> Um but like he was winning [laughter] >> Um but like he was winning [laughter] >> Um but like he was winning [laughter] and it was just like he wasn't going to and it was just like he wasn't going to and it was just like he wasn't going to let me [ __ ] not hear it. And it was let me [ __ ] not hear it. And it was let me [ __ ] not hear it. And it was just horrible. You know, I had to just horrible. You know, I had to just horrible. You know, I had to listen. I was like god damn it. listen. I was like god damn it. listen. I was like god damn it. [laughter] [laughter] [laughter] >> There's also >> There's also >> There's also >> all the time like for for a decade. >> all the time like for for a decade. >> all the time like for for a decade. >> There was also this other thing would >> There was also this other thing would >> There was also this other thing would happen. So this is like 2000 I think happen. So this is like 2000 I think happen. So this is like 2000 I think this really started 2014 15 etc. is Emil this really started 2014 15 etc. is Emil this really started 2014 15 etc. is Emil and I would meet up with Mark and Ben at and I would meet up with Mark and Ben at and I would meet up with Mark and Ben at this super undercover restaurant. Ah yes this super undercover restaurant. Ah yes this super undercover restaurant. Ah yes yes yes yes >> right next to our office which was in >> right next to our office which was in >> right next to our office which was in the same building at the time as TW or the same building at the time as TW or the same building at the time as TW or sorry same building as square right sorry same building as square right sorry same building as square right >> by the way me also like >> by the way me also like >> by the way me also like a remarkably amazing [ __ ] and a remarkably amazing [ __ ] and a remarkably amazing [ __ ] and currently the CTO of the department of currently the CTO of the department of currently the CTO of the department of war but um super talented. war but um super talented. war but um super talented. >> Yeah the best. Yeah, >> Yeah the best. Yeah, >> Yeah the best. Yeah, >> we would do these >> we would do these >> we would do these sess. We just we'd have dinner, break sess. We just we'd have dinner, break sess. We just we'd have dinner, break some bread, talk shop, some bread, talk shop, some bread, talk shop, >> and we're like, >> and we're like, >> and we're like, >> yeah, >> yeah, >> yeah, >> Emil and I would always walk out going, >> Emil and I would always walk out going, >> Emil and I would always walk out going, damn, it would have it would be so great damn, it would have it would be so great damn, it would have it would be so great to have these guys involved. to have these guys involved. to have these guys involved. >> Of course, I didn't because they were at >> Of course, I didn't because they were at >> Of course, I didn't because they were at >> lift. Yeah. >> lift. Yeah. >> lift. Yeah. >> And sometimes even we might even talk >> And sometimes even we might even talk >> And sometimes even we might even talk about, hey, is there a thing that comes about, hey, is there a thing that comes about, hey, is there a thing that comes together? But like I was just so the way together? But like I was just so the way together? But like I was just so the way I was. There's I was. There's I was. There's >> Yeah. There was no way to cross a deal >> Yeah. There was no way to cross a deal >> Yeah. There was no way to cross a deal with him other than if he gave him the with him other than if he gave him the with him other than if he gave him the company. company. company. >> Yeah. and he could just fire everybody >> Yeah. and he could just fire everybody >> Yeah. and he could just fire everybody instantly. [laughter] instantly. [laughter] instantly. [laughter] >> So it was, you know, but it was like >> So it was, you know, but it was like >> So it was, you know, but it was like that is it was it was that is it was it was that is it was it was >> there was m there was mutual respect >> there was m there was mutual respect >> there was m there was mutual respect with this really kind of cool tension at with this really kind of cool tension at with this really kind of cool tension at the same time. the same time. the same time. >> Yeah. Yeah. >> Yeah. Yeah. >> Yeah. Yeah. >> Uh that made it that kind of just was >> Uh that made it that kind of just was >> Uh that made it that kind of just was the extra texture on the Uber the extra texture on the Uber the extra texture on the Uber experience. At least for me. experience. At least for me. experience. At least for me. >> Yeah. It was kind of like uh >> Yeah. It was kind of like uh >> Yeah. It was kind of like uh it felt like well you're a basketball it felt like well you're a basketball it felt like well you're a basketball guy. It was felt like the old Larry Bird guy. It was felt like the old Larry Bird guy. It was felt like the old Larry Bird like [ __ ] Magic Johnson. We're like like [ __ ] Magic Johnson. We're like like [ __ ] Magic Johnson. We're like [laughter] [laughter] [laughter] >> okay we'll meet each other. >> okay we'll meet each other. >> okay we'll meet each other. >> We hate you but like >> We hate you but like >> We hate you but like wish you were on our team. [laughter] wish you were on our team. [laughter] wish you were on our team. [laughter] >> This sucks. >> This sucks. >> This sucks. >> So it's the one that got away. >> So it's the one that got away. >> So it's the one that got away. >> Um but fast forward and now there's a >> Um but fast forward and now there's a >> Um but fast forward and now there's a there's a new chance at there's a new chance at there's a new chance at >> Well, what I would say is there's one >> Well, what I would say is there's one >> Well, what I would say is there's one middle piece to this. middle piece to this. middle piece to this. >> Sure. which is those who are obviously >> Sure. which is those who are obviously >> Sure. which is those who are obviously in the tech industry, like we know what in the tech industry, like we know what in the tech industry, like we know what Uber's 2017 was like. Uber's 2017 was like. Uber's 2017 was like. >> Uh >> Uh >> Uh that wouldn't have gone that way if Ben that wouldn't have gone that way if Ben that wouldn't have gone that way if Ben or Mark was on the board. or Mark was on the board. or Mark was on the board. >> Nope. >> Nope. >> Nope. >> So, so when Ben and I talk about this, >> So, so when Ben and I talk about this, >> So, so when Ben and I talk about this, we're like, it was our fault. we're like, it was our fault. we're like, it was our fault. >> Yeah. >> Yeah. >> Yeah. >> We we screwed it up. >> We we screwed it up. >> We we screwed it up. >> Yeah. >> Yeah. >> Yeah. >> I mean, it would have been By the way, >> I mean, it would have been By the way, >> I mean, it would have been By the way, Uber would be I'll just say considerably larger and I'll just say considerably larger and more important and more central company more important and more central company more important and more central company today. There's no question. I mean first today. There's no question. I mean first today. There's no question. I mean first of all it would have won food. No qu of all it would have won food. No qu of all it would have won food. No qu Uber was dominating food. Uber was dominating food. Uber was dominating food. >> Yeah. >> Yeah. >> Yeah. >> Dominating food at the time and it would >> Dominating food at the time and it would >> Dominating food at the time and it would have also been Door Dash for sure a lead have also been Door Dash for sure a lead have also been Door Dash for sure a lead a leader in autonomous. a leader in autonomous. a leader in autonomous. >> Door Dash was 5% market share when I >> Door Dash was 5% market share when I >> Door Dash was 5% market share when I left. left. left. Yeah. Yeah. Yeah. >> And um and >> And um and >> And um and >> if we lost a tenth of a percent >> if we lost a tenth of a percent >> if we lost a tenth of a percent >> in a week, >> in a week, >> in a week, >> yeah, >> yeah, >> yeah, >> we're not going home this weekend. >> we're not going home this weekend. >> we're not going home this weekend. >> And by the way, Tony, God bless him, >> And by the way, Tony, God bless him, >> And by the way, Tony, God bless him, >> had a hell of a time getting his round >> had a hell of a time getting his round >> had a hell of a time getting his round done at the time. Like like right at done at the time. Like like right at done at the time. Like like right at that period, he was doing a round at that period, he was doing a round at that period, he was doing a round at Door Dash. Door Dash. Door Dash. >> Um and he had to really struggle to get >> Um and he had to really struggle to get >> Um and he had to really struggle to get it done. And you know, congratulations it done. And you know, congratulations it done. And you know, congratulations to him for building, you know, what he to him for building, you know, what he to him for building, you know, what he built. built. built. >> And he's done it. >> And he's done it. >> And he's done it. >> He got it. You got You know what? It's >> He got it. You got You know what? It's >> He got it. You got You know what? It's really easy to do the whatifs and the really easy to do the whatifs and the really easy to do the whatifs and the this and the that. The thing that this and the that. The thing that this and the that. The thing that matters most is tail of the tape. matters most is tail of the tape. matters most is tail of the tape. >> Yeah. >> Yeah. >> Yeah. >> And he he got some stuff done. >> And he he got some stuff done. >> And he he got some stuff done. >> He did. He did. He did. >> He did. He did. He did. >> He did. He did. He did. >> You know, respect. >> You know, respect. >> You know, respect. >> No. Amazing. He survived it. Which is, >> No. Amazing. He survived it. Which is, >> No. Amazing. He survived it. Which is, by the way, you know, in by the way, you know, in by the way, you know, in entrepreneurship, surviving is a big entrepreneurship, surviving is a big entrepreneurship, surviving is a big part of it. part of it. part of it. >> Yeah. >> Yeah. >> Yeah. >> Yeah. Good stuff. >> Yeah. Good stuff. >> Yeah. Good stuff. >> Not that easy. >> Not that easy. >> Not that easy. >> Our [snorts] Tommy program was like >> Our [snorts] Tommy program was like >> Our [snorts] Tommy program was like second to Whimo, but catching up at the second to Whimo, but catching up at the second to Whimo, but catching up at the time. time. time. >> And you had the network. >> And you had the network. >> And you had the network. >> We had the network, too. Uh and we just >> We had the network, too. Uh and we just >> We had the network, too. Uh and we just we had the ferocity sort of the we had the ferocity sort of the we had the ferocity sort of the fierceness that it takes to catch up. fierceness that it takes to catch up. fierceness that it takes to catch up. >> Yeah. >> Yeah. >> Yeah. >> In a certain technology space >> In a certain technology space >> In a certain technology space uh while building all these other things uh while building all these other things uh while building all these other things that we were doing. I mean it was a lot that we were doing. I mean it was a lot that we were doing. I mean it was a lot it was it was good times. It was a lot it was it was good times. It was a lot it was it was good times. It was a lot of fun. of fun. of fun. >> Yeah. >> Yeah. >> Yeah. >> Yeah. I mean even though 17 was super >> Yeah. I mean even though 17 was super >> Yeah. I mean even though 17 was super tough for me tough for me tough for me >> uh and maybe you could say even for the >> uh and maybe you could say even for the >> uh and maybe you could say even for the company at large. Um certainly for the company at large. Um certainly for the company at large. Um certainly for the company at large uh you know I loved company at large uh you know I loved company at large uh you know I loved every minute and honestly even when you every minute and honestly even when you every minute and honestly even when you come out of it and you're like yeah got come out of it and you're like yeah got come out of it and you're like yeah got a little weird at the end. It was tough. a little weird at the end. It was tough. a little weird at the end. It was tough. I still [snorts] I still I still re it I still [snorts] I still I still re it I still [snorts] I still I still re it was still great. was still great. was still great. >> Some of that you love in retrospect. >> Some of that you love in retrospect. >> Some of that you love in retrospect. >> Yeah. No, I get you. I trust me. Trust >> Yeah. No, I get you. I trust me. Trust >> Yeah. No, I get you. I trust me. Trust me. You don't have to remind me of that. me. You don't have to remind me of that. me. You don't have to remind me of that. I'm just saying like I'm just saying like I'm just saying like >> there's that feeling that's so [ __ ] >> there's that feeling that's so [ __ ] >> there's that feeling that's so [ __ ] horrible at the time, you know? horrible at the time, you know? horrible at the time, you know? >> Yeah. It was there was a love affair >> Yeah. It was there was a love affair >> Yeah. It was there was a love affair there and that's almost the way I would there and that's almost the way I would there and that's almost the way I would >> put it. >> put it. >> put it. >> And a lot of people talk about well you >> And a lot of people talk about well you >> And a lot of people talk about well you know are you mad about this or that? know are you mad about this or that? know are you mad about this or that? >> You upset that that happened and I'm >> You upset that that happened and I'm >> You upset that that happened and I'm like like like when you when you fall in love again you when you when you fall in love again you when you when you fall in love again you don't think about the ex very much. don't think about the ex very much. don't think about the ex very much. >> Yeah. >> Yeah. >> Yeah. >> That's it. So then you can just be like >> That's it. So then you can just be like >> That's it. So then you can just be like it was a good time. it was a good time. it was a good time. >> Yeah. >> Yeah. >> Yeah. >> She got a little crazy at the end. >> She got a little crazy at the end. >> She got a little crazy at the end. [laughter] [laughter] [laughter] >> That's true. That's true. Like the Yeah. >> That's true. That's true. Like the Yeah. >> That's true. That's true. Like the Yeah. The crazy crazy ex. Yeah. So there we The crazy crazy ex. Yeah. So there we The crazy crazy ex. Yeah. So there we go. go. go. >> Yeah. >> Yeah. >> Yeah. >> And um how did you fall in love again or >> And um how did you fall in love again or >> And um how did you fall in love again or or did it take you how did you handle or did it take you how did you handle or did it take you how did you handle this the interim period between sort of this the interim period between sort of this the interim period between sort of the the the >> Well, >> Well, >> Well, yeah. I mean you had a really yeah. I mean you had a really yeah. I mean you had a really interesting situation. And I think interesting situation. And I think interesting situation. And I think headlines headlines headlines and the neg the negativity in the and the neg the negativity in the and the neg the negativity in the headlines from that period of time and headlines from that period of time and headlines from that period of time and and you could really say the extreme and you could really say the extreme and you could really say the extreme wokeness wokeness wokeness that was sort of coming in on on Uber that was sort of coming in on on Uber that was sort of coming in on on Uber and trying to constrain it if that makes and trying to constrain it if that makes and trying to constrain it if that makes sense. There's this interim period. It sense. There's this interim period. It sense. There's this interim period. It was like seven, eight months between was like seven, eight months between was like seven, eight months between when I left and when I started what's when I left and when I started what's when I left and when I started what's now called Adams. And I had to sort of now called Adams. And I had to sort of now called Adams. And I had to sort of fight for my life because there are just fight for my life because there are just fight for my life because there are just a number of lawsuits, a number of lawsuits, a number of lawsuits, a number of investigations, a number of investigations, a number of investigations, all these things where it was just like all these things where it was just like all these things where it was just like I I continue to stand by every decision I I continue to stand by every decision I I continue to stand by every decision I made at Uber. I made at Uber. I made at Uber. Uh but you know there are a lot of times Uh but you know there are a lot of times Uh but you know there are a lot of times where you could just make the argument I where you could just make the argument I where you could just make the argument I just got way too close to the line and just got way too close to the line and just got way too close to the line and then yeah I could show that there's no then yeah I could show that there's no then yeah I could show that there's no chalk on on the shoe. I could show but chalk on on the shoe. I could show but chalk on on the shoe. I could show but you would need a electromagnetic you would need a electromagnetic you would need a electromagnetic scanning microscope to see that there scanning microscope to see that there scanning microscope to see that there was no chalk on the shoe. You reverse was no chalk on the shoe. You reverse was no chalk on the shoe. You reverse angle slow-mo and it's just like that's angle slow-mo and it's just like that's angle slow-mo and it's just like that's the problem is is the edge of the problem is is the edge of the problem is is the edge of being a what's the word? a hard scrabble being a what's the word? a hard scrabble being a what's the word? a hard scrabble small startup kid small startup kid small startup kid brought to something that's working and brought to something that's working and brought to something that's working and going super big. going super big. going super big. >> Yeah. >> Yeah. >> Yeah. >> You don't realize that when you get big >> You don't realize that when you get big >> You don't realize that when you get big there actually are different rules. there actually are different rules. there actually are different rules. >> Yeah. You >> Yeah. You >> Yeah. You >> and they're not just the rules, there's >> and they're not just the rules, there's >> and they're not just the rules, there's the there's the vibes the there's the vibes the there's the vibes >> when the when the pirate becomes the >> when the when the pirate becomes the >> when the when the pirate becomes the navy. We talk about this at the farm a navy. We talk about this at the farm a navy. We talk about this at the farm a lot. lot. lot. When you're the upstart and you're When you're the upstart and you're When you're the upstart and you're battling the man, battling the man, battling the man, you can go hard in ways that if you do you can go hard in ways that if you do you can go hard in ways that if you do it when you're the big the big dog, it when you're the big the big dog, it when you're the big the big dog, >> it's not okay. >> it's not okay. >> it's not okay. >> Yeah. It's very that you're viewed >> Yeah. It's very that you're viewed >> Yeah. It's very that you're viewed entirely differently. entirely differently. entirely differently. >> Yeah. And I didn't I hadn't consumed >> Yeah. And I didn't I hadn't consumed >> Yeah. And I didn't I hadn't consumed that information. [laughter] that information. [laughter] that information. [laughter] It actually helped me because, you know, It actually helped me because, you know, It actually helped me because, you know, when we started the firm, we were the when we started the firm, we were the when we started the firm, we were the upstart upstart upstart >> and I I talked just [ __ ] crazy [ __ ] >> and I I talked just [ __ ] crazy [ __ ] >> and I I talked just [ __ ] crazy [ __ ] about the other VCs and this and that about the other VCs and this and that about the other VCs and this and that and you know, call them [ __ ] and and you know, call them [ __ ] and and you know, call them [ __ ] and >> but like at some point like I could feel >> but like at some point like I could feel >> but like at some point like I could feel it turning. Yeah. it turning. Yeah. it turning. Yeah. >> And I remembered what happened to him >> And I remembered what happened to him >> And I remembered what happened to him and I was like and I was like and I was like >> and we we actually had a whole thing >> and we we actually had a whole thing >> and we we actually had a whole thing like we're not the pirates anymore. like we're not the pirates anymore. like we're not the pirates anymore. Don't say that type of stuff. Like be Don't say that type of stuff. Like be Don't say that type of stuff. Like be >> be chill. >> be chill. >> be chill. >> We had Yeah. We had this thing where um >> We had Yeah. We had this thing where um >> We had Yeah. We had this thing where um we would against Lyft we would uh we we would against Lyft we would uh we we would against Lyft we would uh we would recruit the drivers on Lyft um to would recruit the drivers on Lyft um to would recruit the drivers on Lyft um to bring them over to Uber so that uh it bring them over to Uber so that uh it bring them over to Uber so that uh it was hard for Lift to build supply was hard for Lift to build supply was hard for Lift to build supply um and we would aggressively do it and um and we would aggressively do it and um and we would aggressively do it and we had a program for it internally which we had a program for it internally which we had a program for it internally which we called shoplifting. we called shoplifting. we called shoplifting. [laughter] [laughter] [laughter] >> Okay. >> Okay. >> Okay. ju just that that name by the way like ju just that that name by the way like ju just that that name by the way like forget about all the I I know some of forget about all the I I know some of forget about all the I I know some of the techniques they used the techniques they used the techniques they used >> very [laughter] aggressively but that >> very [laughter] aggressively but that >> very [laughter] aggressively but that name you can't use that name name you can't use that name name you can't use that name >> it's just not a thing and I remember um >> it's just not a thing and I remember um >> it's just not a thing and I remember um you know David Drummond from Google was you know David Drummond from Google was you know David Drummond from Google was on our board and he's like you know on our board and he's like you know on our board and he's like you know Travis Travis Travis that's not a thing dude [laughter] that's not a thing dude [laughter] that's not a thing dude [laughter] you got to change it and then I had of you got to change it and then I had of you got to change it and then I had of course like antitrust training which are course like antitrust training which are course like antitrust training which are like at the time again I'm like this like at the time again I'm like this like at the time again I'm like this small startup kid. I'm like, "Any trust? small startup kid. I'm like, "Any trust? small startup kid. I'm like, "Any trust? What the hell is that?" Legal people What the hell is that?" Legal people What the hell is that?" Legal people telling me whatever. They're like, telling me whatever. They're like, telling me whatever. They're like, "Look," I'm like, "I can't wait to have "Look," I'm like, "I can't wait to have "Look," I'm like, "I can't wait to have that problem," you know? And uh they're that problem," you know? And uh they're that problem," you know? And uh they're like they're like, "Look, here's the like they're like, "Look, here's the like they're like, "Look, here's the thing. The way you call projects, it has thing. The way you call projects, it has thing. The way you call projects, it has to be appropriate for like a a a to be appropriate for like a a a to be appropriate for like a a a 10-year-old basketball team." So, it 10-year-old basketball team." So, it 10-year-old basketball team." So, it went from Shoplift to the National, went from Shoplift to the National, went from Shoplift to the National, sorry, the North American Championship sorry, the North American Championship sorry, the North American Championship Series. We call it the NACS. Series. We call it the NACS. Series. We call it the NACS. >> [laughter] >> And we had a whole very heavy duty >> And we had a whole very heavy duty initiative called the NACS [laughter] to initiative called the NACS [laughter] to initiative called the NACS [laughter] to like make sure that the North American like make sure that the North American like make sure that the North American Championship Series was won by us. Championship Series was won by us. Championship Series was won by us. [laughter] [laughter] [laughter] >> That is hilarious. >> That is hilarious. >> That is hilarious. >> I didn't know about the North American >> I didn't know about the North American >> I didn't know about the North American Championship series. [laughter] That's Championship series. [laughter] That's Championship series. [laughter] That's >> Yeah. >> Yeah. >> Yeah. >> Okay. So, you go through this >> Okay. So, you go through this >> Okay. So, you go through this eight-month period. You're in this hell. eight-month period. You're in this hell. eight-month period. You're in this hell. You're dealing with the lawsuits. You're You're dealing with the lawsuits. You're You're dealing with the lawsuits. You're sort of reflecting back. You're thinking sort of reflecting back. You're thinking sort of reflecting back. You're thinking about what's next. and you say, "Hey, about what's next. and you say, "Hey, about what's next. and you say, "Hey, let's let's build again." let's let's build again." let's let's build again." >> So, what happened was it's super >> So, what happened was it's super >> So, what happened was it's super interesting. interesting. interesting. Um, so I had a buddy who started a thing Um, so I had a buddy who started a thing Um, so I had a buddy who started a thing right near the end of my Uber tenure. right near the end of my Uber tenure. right near the end of my Uber tenure. Um, and it was called Cloud Kitchens. Um, and it was called Cloud Kitchens. Um, and it was called Cloud Kitchens. And what happened was is he he's a real And what happened was is he he's a real And what happened was is he he's a real estate savant. estate savant. estate savant. >> Yeah. >> Yeah. >> Yeah. >> That's just thing. And he was looking >> That's just thing. And he was looking >> That's just thing. And he was looking like real estate like there's got to be like real estate like there's got to be like real estate like there's got to be an angle in tech and real estate. How do an angle in tech and real estate. How do an angle in tech and real estate. How do we do this? and he got a property up. we do this? and he got a property up. we do this? and he got a property up. Actually, maybe you know what? Let me Actually, maybe you know what? Let me Actually, maybe you know what? Let me start even before this. We got Uber, we start even before this. We got Uber, we start even before this. We got Uber, we got Uber Eats up in 2015. We saw the got Uber Eats up in 2015. We saw the got Uber Eats up in 2015. We saw the first dark kitchens. I don't know, it first dark kitchens. I don't know, it first dark kitchens. I don't know, it was like late 15, early 16. We saw was like late 15, early 16. We saw was like late 15, early 16. We saw pictures of pictures of pictures of commercial kitchens in Melbourne that commercial kitchens in Melbourne that commercial kitchens in Melbourne that were not restaurants were not restaurants were not restaurants >> that were on Uber Eats. >> that were on Uber Eats. >> that were on Uber Eats. >> Oh, wow. Wow. Wow. >> Oh, wow. Wow. Wow. >> Oh, wow. Wow. Wow. >> So, the first dark kitchens were >> So, the first dark kitchens were >> So, the first dark kitchens were emerging. We're like, this is crazy. emerging. We're like, this is crazy. emerging. We're like, this is crazy. That's so interesting. That's so interesting. That's so interesting. And uh a buddy of mine who is this real And uh a buddy of mine who is this real And uh a buddy of mine who is this real estate savant sort of like caught wind estate savant sort of like caught wind estate savant sort of like caught wind of like what's going on and he had this of like what's going on and he had this of like what's going on and he had this idea which was why don't we have a idea which was why don't we have a idea which was why don't we have a multi-tenant multi-tenant multi-tenant approach to this. So 30 kitchens on a approach to this. So 30 kitchens on a approach to this. So 30 kitchens on a single property single property single property and uh basically lease these kitchens and uh basically lease these kitchens and uh basically lease these kitchens which are 200 square feet as delivery which are 200 square feet as delivery which are 200 square feet as delivery only locations. only locations. only locations. Anyways he I didn't really I mean I sort Anyways he I didn't really I mean I sort Anyways he I didn't really I mean I sort of knew what was going on but not of knew what was going on but not of knew what was going on but not really. And then in the fall, like like really. And then in the fall, like like really. And then in the fall, like like 3 months after I had left Uber, we meet 3 months after I had left Uber, we meet 3 months after I had left Uber, we meet up up up and he's telling me about he's like, and he's telling me about he's like, and he's telling me about he's like, "Yeah, you know, we got a few tenants. "Yeah, you know, we got a few tenants. "Yeah, you know, we got a few tenants. It's kind of working." He's like, "I'm It's kind of working." He's like, "I'm It's kind of working." He's like, "I'm going to do like a few more of these. I going to do like a few more of these. I going to do like a few more of these. I think I think I'm going to try to figure think I think I'm going to try to figure think I think I'm going to try to figure out how to do a few more." I'm like, out how to do a few more." I'm like, out how to do a few more." I'm like, "You mean like a few thousand, right?" "You mean like a few thousand, right?" "You mean like a few thousand, right?" [laughter] [laughter] [laughter] >> And so then we partnered up. Um I >> And so then we partnered up. Um I >> And so then we partnered up. Um I acquired it. Uh I think they they'd sort acquired it. Uh I think they they'd sort acquired it. Uh I think they they'd sort they've done like their uh they just they've done like their uh they just they've done like their uh they just done their series A and uh so I acquired done their series A and uh so I acquired done their series A and uh so I acquired it and then we just went to town, right? it and then we just went to town, right? it and then we just went to town, right? And so it's really interesting because And so it's really interesting because And so it's really interesting because sometimes you start a thing and sometimes you start a thing and sometimes you start a thing and sometimes you're involved in a thing and sometimes you're involved in a thing and sometimes you're involved in a thing and then you come in like I think this is then you come in like I think this is then you come in like I think this is interesting story about like interesting story about like interesting story about like >> Elon was involved like obviously >> Elon was involved like obviously >> Elon was involved like obviously involved in Tesla from the beginning involved in Tesla from the beginning involved in Tesla from the beginning >> was an investor at first but then went >> was an investor at first but then went >> was an investor at first but then went all the way in. Um and it's interesting all the way in. Um and it's interesting all the way in. Um and it's interesting how these ideas come. So I like to say how these ideas come. So I like to say how these ideas come. So I like to say that sometimes that sometimes that sometimes I you you have ideas sometimes ideas I you you have ideas sometimes ideas I you you have ideas sometimes ideas come to you. come to you. come to you. >> Yeah. But >> Yeah. But >> Yeah. But if it's an idea that's meant to be if if it's an idea that's meant to be if if it's an idea that's meant to be if it's your it's meant to be your it's your it's meant to be your it's your it's meant to be your soulmate, you know it when you see it, soulmate, you know it when you see it, soulmate, you know it when you see it, >> right? >> right? >> right? >> And >> And >> And >> it's >> it's >> it's >> and you just and sometimes you just it's >> and you just and sometimes you just it's >> and you just and sometimes you just it's like a love affair. You just go for it. like a love affair. You just go for it. like a love affair. You just go for it. Some people have these long list. Some people have these long list. Some people have these long list. >> Important distinction because >> Important distinction because >> Important distinction because there's a real difference between that there's a real difference between that there's a real difference between that and like what's known as the and like what's known as the and like what's known as the professional CEO, right? where nobody professional CEO, right? where nobody professional CEO, right? where nobody would ever consider nobody smart other would ever consider nobody smart other would ever consider nobody smart other than like a few like weird political than like a few like weird political than like a few like weird political people would ever consider Elon a people would ever consider Elon a people would ever consider Elon a professional CEO. It yeah it's like professional CEO. It yeah it's like professional CEO. It yeah it's like >> oh that's an idea [laughter] >> oh that's an idea [laughter] >> oh that's an idea [laughter] that's that's that's >> I I didn't start the company but it's >> I I didn't start the company but it's >> I I didn't start the company but it's mine that's mine like it is me and I mine that's mine like it is me and I mine that's mine like it is me and I know how to do it and these guys did a know how to do it and these guys did a know how to do it and these guys did a great job in starting it but there's no great job in starting it but there's no great job in starting it but there's no way they can do it and that's that way they can do it and that's that way they can do it and that's that that's a different that's a different that's a different >> a very different animal. Yeah. So, you >> a very different animal. Yeah. So, you >> a very different animal. Yeah. So, you know, you fall in love with something know, you fall in love with something know, you fall in love with something and it's meant to be for you at that and it's meant to be for you at that and it's meant to be for you at that time and you just you just go for it. time and you just you just go for it. time and you just you just go for it. And for me, it was like And for me, it was like And for me, it was like ah man um ah man um ah man um complexity is interesting to me. uh complexity is interesting to me. uh complexity is interesting to me. uh things that are naturally not things that are naturally not things that are naturally not they're not sexy on the surface is also they're not sexy on the surface is also they're not sexy on the surface is also weirdly interesting. Um weirdly interesting. Um weirdly interesting. Um and then how like especially if you can and then how like especially if you can and then how like especially if you can see that it's sexy but people don't see that it's sexy but people don't see that it's sexy but people don't understand yet. That's where the the understand yet. That's where the the understand yet. That's where the the sparkle in your eye you kind of go ah sparkle in your eye you kind of go ah sparkle in your eye you kind of go ah you don't see what I see and I'm pretty you don't see what I see and I'm pretty you don't see what I see and I'm pretty sure I'm right and that's the fun part. sure I'm right and that's the fun part. sure I'm right and that's the fun part. Yeah. But this was a a very complex Yeah. But this was a a very complex Yeah. But this was a a very complex thing because we're buying property. thing because we're buying property. thing because we're buying property. We're doing construction. We're doing construction. We're doing construction. We are uh then have a sales team that's We are uh then have a sales team that's We are uh then have a sales team that's selling to restaurants a deliveryonly selling to restaurants a deliveryonly selling to restaurants a deliveryonly location. So they're expanding the location. So they're expanding the location. So they're expanding the restaurant chain. This isn't like I'm restaurant chain. This isn't like I'm restaurant chain. This isn't like I'm just getting into a a vendor flow. I'm just getting into a a vendor flow. I'm just getting into a a vendor flow. I'm actually we are we're making a strategic actually we are we're making a strategic actually we are we're making a strategic cell which is you should expand. You cell which is you should expand. You cell which is you should expand. You should expand your business and you should expand your business and you should expand your business and you should expand it in a new way, which is should expand it in a new way, which is should expand it in a new way, which is two strategic moves at the same time. two strategic moves at the same time. two strategic moves at the same time. >> Yeah. >> Yeah. >> Yeah. >> And uh >> And uh >> And uh >> by the way, you like complexity. >> by the way, you like complexity. >> by the way, you like complexity. >> Yeah. Yeah. >> Yeah. Yeah. >> Yeah. Yeah. >> Yeah. >> Yeah. >> Yeah. >> Which makes it >> Which makes it >> Which makes it >> Exactly. Yeah. So then they're like, >> Exactly. Yeah. So then they're like, >> Exactly. Yeah. So then they're like, you're also, okay, so we've woven you're also, okay, so we've woven you're also, okay, so we've woven technology through this whole real technology through this whole real technology through this whole real estate thing. We have a software stack estate thing. We have a software stack estate thing. We have a software stack that of course we'll sell will work in that of course we'll sell will work in that of course we'll sell will work in this facility, but we'll also sell it to this facility, but we'll also sell it to this facility, but we'll also sell it to all your brick and mortars everywhere. all your brick and mortars everywhere. all your brick and mortars everywhere. And [ __ ] let's just get some robotics And [ __ ] let's just get some robotics And [ __ ] let's just get some robotics going at the same time because [snorts] going at the same time because [snorts] going at the same time because [snorts] like labor is your biggest problem if like labor is your biggest problem if like labor is your biggest problem if you're a restaurant tour. you're a restaurant tour. you're a restaurant tour. >> If you solve that, it's really big. I >> If you solve that, it's really big. I >> If you solve that, it's really big. I can get into the strategy of why that is can get into the strategy of why that is can get into the strategy of why that is the whole thing, but but just the brass the whole thing, but but just the brass the whole thing, but but just the brass tax of the complexity of the project was tax of the complexity of the project was tax of the complexity of the project was interesting to me. interesting to me. interesting to me. >> So it was more kind of emergent or >> So it was more kind of emergent or >> So it was more kind of emergent or iterative than hey, I've got this master iterative than hey, I've got this master iterative than hey, I've got this master vision for what it's all going to turn vision for what it's all going to turn vision for what it's all going to turn into. into. into. No, I I think at that time I like I if No, I I think at that time I like I if No, I I think at that time I like I if it if I don't see how it it's big and it if I don't see how it it's big and it if I don't see how it it's big and meaningful then the complexity for like meaningful then the complexity for like meaningful then the complexity for like complexity complexity sake's not a thing complexity complexity sake's not a thing complexity complexity sake's not a thing there there has to be you know maybe there there has to be you know maybe there there has to be you know maybe somebody would say a pot of gold at the somebody would say a pot of gold at the somebody would say a pot of gold at the end of the rainbow it has to be end of the rainbow it has to be end of the rainbow it has to be something meaningful the the meaningful something meaningful the the meaningful something meaningful the the meaningful thing about thing about thing about Adam's food or what folks know as cloud Adam's food or what folks know as cloud Adam's food or what folks know as cloud kitchens is kitchens is kitchens is can you make can you make can you make the preparation and delivery of a meal, the preparation and delivery of a meal, the preparation and delivery of a meal, a quality meal, so efficient that it a quality meal, so efficient that it a quality meal, so efficient that it approaches the cost of going to the approaches the cost of going to the approaches the cost of going to the grocery store? grocery store? grocery store? If it does, you do to the kitchen what If it does, you do to the kitchen what If it does, you do to the kitchen what Uber did to the car and you go, "Okay, Uber did to the car and you go, "Okay, Uber did to the car and you go, "Okay, that's kind of a big deal." But then you that's kind of a big deal." But then you that's kind of a big deal." But then you say, "What do you need to do to get say, "What do you need to do to get say, "What do you need to do to get there?" there?" there?" Okay. Well, you need to do e-commerce Okay. Well, you need to do e-commerce Okay. Well, you need to do e-commerce for online food delivery, for online food delivery, for online food delivery, >> which means I need warehouses >> which means I need warehouses >> which means I need warehouses like Amazon style. like Amazon style. like Amazon style. >> Yeah. >> Yeah. >> Yeah. >> Except they're not just for logistics. >> Except they're not just for logistics. >> Except they're not just for logistics. It's not just picking, packing, sorting, It's not just picking, packing, sorting, It's not just picking, packing, sorting, and then putting in a car. You also have and then putting in a car. You also have and then putting in a car. You also have to have manufacturing there, too. to have manufacturing there, too. to have manufacturing there, too. Manufacturing also known as a Manufacturing also known as a Manufacturing also known as a restaurant. People don't think of that, restaurant. People don't think of that, restaurant. People don't think of that, but you go to the labor statistics, but you go to the labor statistics, but you go to the labor statistics, Bureau of Labor Statistics, restaurants Bureau of Labor Statistics, restaurants Bureau of Labor Statistics, restaurants are manufacturers. Okay? So you have to are manufacturers. Okay? So you have to are manufacturers. Okay? So you have to have manufacturing and logistics have manufacturing and logistics have manufacturing and logistics infrastructure in the same place. That's infrastructure in the same place. That's infrastructure in the same place. That's real estate. Then you actually have to real estate. Then you actually have to real estate. Then you actually have to have automated production. That's the have automated production. That's the have automated production. That's the manufacturing. So robotic food robots manufacturing. So robotic food robots manufacturing. So robotic food robots essentially food robotics. And then you essentially food robotics. And then you essentially food robotics. And then you need to have robotic couriers. need to have robotic couriers. need to have robotic couriers. And you do those three things and then And you do those three things and then And you do those three things and then all of a sudden you are getting super all of a sudden you are getting super all of a sudden you are getting super high quality meals. Everything you could high quality meals. Everything you could high quality meals. Everything you could ever imagine. We call it the internet ever imagine. We call it the internet ever imagine. We call it the internet food court. and it gets to you at the price of going and it gets to you at the price of going to the grocery store. to the grocery store. to the grocery store. So you go, okay, nice. That's a nice So you go, okay, nice. That's a nice So you go, okay, nice. That's a nice story. You go, well, in 20 years, story. You go, well, in 20 years, story. You go, well, in 20 years, will robotics I start with a really easy will robotics I start with a really easy will robotics I start with a really easy question. In 20 years, will people be question. In 20 years, will people be question. In 20 years, will people be cooking food regularly? cooking food regularly? cooking food regularly? And there will be a suite of robotics And there will be a suite of robotics And there will be a suite of robotics that basically will make higher quality that basically will make higher quality that basically will make higher quality meals. meals. meals. Uh like there just they will be doing a Uh like there just they will be doing a Uh like there just they will be doing a better job than any of us could do. And better job than any of us could do. And better job than any of us could do. And I think most people especially those in I think most people especially those in I think most people especially those in the robotics space be like of course the robotics space be like of course the robotics space be like of course that's obvious that that's going to that's obvious that that's going to that's obvious that that's going to happen. And you're like in 20 years are happen. And you're like in 20 years are happen. And you're like in 20 years are we going to have I call them autonomous we going to have I call them autonomous we going to have I call them autonomous burritos like boxes on wheels that hold burritos like boxes on wheels that hold burritos like boxes on wheels that hold food at temperature that come to your food at temperature that come to your food at temperature that come to your house? Yes. Everybody will say yes house? Yes. Everybody will say yes house? Yes. Everybody will say yes absolutely. We see Whimos cruising absolutely. We see Whimos cruising absolutely. We see Whimos cruising around all the already. We just need a around all the already. We just need a around all the already. We just need a very cheap a much cheaper version of very cheap a much cheaper version of very cheap a much cheaper version of that. So 20 years is like the easy one. that. So 20 years is like the easy one. that. So 20 years is like the easy one. Then you go well what about what about Then you go well what about what about Then you go well what about what about 10? What about seven? What about five? 10? What about seven? What about five? 10? What about seven? What about five? And so that's when you're bending you're And so that's when you're bending you're And so that's when you're bending you're bending reality. You're you're bending bending reality. You're you're bending bending reality. You're you're bending it towards now. it towards now. it towards now. So everybody would agree that this is So everybody would agree that this is So everybody would agree that this is going to happen and now it's about when going to happen and now it's about when going to happen and now it's about when and who and who and who and then you say LFG. and then you say LFG. and then you say LFG. Now sometimes you're a little bit early Now sometimes you're a little bit early Now sometimes you're a little bit early and I would say on the and I would say on the and I would say on the >> we were a bit early on cloud kitchens >> we were a bit early on cloud kitchens >> we were a bit early on cloud kitchens but but you build those bricks all those but but you build those bricks all those but but you build those bricks all those things I talked about things I talked about things I talked about >> we have hundreds of facilities in 30 >> we have hundreds of facilities in 30 >> we have hundreds of facilities in 30 countries many hundreds of facilities in countries many hundreds of facilities in countries many hundreds of facilities in 30 countries restaurants because the 30 countries restaurants because the 30 countries restaurants because the online delivery market keeps growing the online delivery market keeps growing the online delivery market keeps growing the restaurants are doing better and better restaurants are doing better and better restaurants are doing better and better so success is happening. Yeah, so success is happening. Yeah, so success is happening. Yeah, >> right. Well, restaurant world has high >> right. Well, restaurant world has high >> right. Well, restaurant world has high churn. Your churn starts coming down churn. Your churn starts coming down churn. Your churn starts coming down because volume's going up. We have because volume's going up. We have because volume's going up. We have applications that guarantee volume into applications that guarantee volume into applications that guarantee volume into these restaurants so that we can have these restaurants so that we can have these restaurants so that we can have successful tenants, which means I'm a successful tenants, which means I'm a successful tenants, which means I'm a successful real estate guy from a from a successful real estate guy from a from a successful real estate guy from a from a business model perspective. The robotics business model perspective. The robotics business model perspective. The robotics start to work. start to work. start to work. You know, you we're getting a You know, you we're getting a You know, you we're getting a manufacturing line for our robots up manufacturing line for our robots up manufacturing line for our robots up this uh in Q4. So, like the pieces start this uh in Q4. So, like the pieces start this uh in Q4. So, like the pieces start to come together. You're like, to come together. You're like, to come together. You're like, production is now 50% cheaper. Once we production is now 50% cheaper. Once we production is now 50% cheaper. Once we get the couriers, the robotic couriers, get the couriers, the robotic couriers, get the couriers, the robotic couriers, you go from $12 a drop for each meal to you go from $12 a drop for each meal to you go from $12 a drop for each meal to 50 cents, 50 cents, 50 cents, a dollar of distribution cost per meal. a dollar of distribution cost per meal. a dollar of distribution cost per meal. And now you're taking now you're taking, And now you're taking now you're taking, And now you're taking now you're taking, >> okay, $6 out in labor. you're taking, >> okay, $6 out in labor. you're taking, >> okay, $6 out in labor. you're taking, let's call it, $10 or $11 out on the let's call it, $10 or $11 out on the let's call it, $10 or $11 out on the courier um on the real estate because courier um on the real estate because courier um on the real estate because you're going to get higher value volume you're going to get higher value volume you're going to get higher value volume because you're driving the prices down. because you're driving the prices down. because you're driving the prices down. Uh you probably save a few bucks, maybe Uh you probably save a few bucks, maybe Uh you probably save a few bucks, maybe let's call it two or three bucks on let's call it two or three bucks on let's call it two or three bucks on occupancy per meal and all of a sudden occupancy per meal and all of a sudden occupancy per meal and all of a sudden you've got like a eight or$10 you've got like a eight or$10 you've got like a eight or$10 >> meal that's delivered to you all in. >> meal that's delivered to you all in. >> meal that's delivered to you all in. >> Plus, you don't have to recruit drivers, >> Plus, you don't have to recruit drivers, >> Plus, you don't have to recruit drivers, you know, and get shoplifted. [laughter] you know, and get shoplifted. [laughter] you know, and get shoplifted. [laughter] >> That's true. So that's right. You can't >> That's true. So that's right. You can't >> That's true. So that's right. You can't shoplift a a rob a robotic courier. shoplift a a rob a robotic courier. shoplift a a rob a robotic courier. >> Yeah. >> Yeah. >> Yeah. >> Yes. >> Yes. >> Yes. >> So >> So >> So >> we need to stop using this [laughter] >> we need to stop using this [laughter] >> we need to stop using this [laughter] term. term. term. >> So wrong. Okay. >> So wrong. Okay. >> So wrong. Okay. >> 100 facilities in 30 countries, >> 100 facilities in 30 countries, >> 100 facilities in 30 countries, thousands of employees in over 8ear thousands of employees in over 8ear thousands of employees in over 8ear period and you're in stealth. period and you're in stealth. period and you're in stealth. >> Yeah, dude. >> Yeah, dude. >> Yeah, dude. >> Yeah. That's just super hard mode. >> Yeah. That's just super hard mode. >> Yeah. That's just super hard mode. >> Yeah. And the thing is is like look >> Yeah. And the thing is is like look >> Yeah. And the thing is is like look coming out of 17 things were it was 150 coming out of 17 things were it was 150 coming out of 17 things were it was 150 articles a day of negative you know articles a day of negative you know articles a day of negative you know negativity negativity negativity and so I wanted to be able to build and so I wanted to be able to build and so I wanted to be able to build without bringing that negativity into without bringing that negativity into without bringing that negativity into the system and I wanted the team to be the system and I wanted the team to be the system and I wanted the team to be able to build without worrying about able to build without worrying about able to build without worrying about what the New York Times was writing what the New York Times was writing what the New York Times was writing tomorrow. tomorrow. tomorrow. >> Yeah. Simple as that. And it was the >> Yeah. Simple as that. And it was the >> Yeah. Simple as that. And it was the right thing to do. Now we had to do hard right thing to do. Now we had to do hard right thing to do. Now we had to do hard mode is we had to recruit cold mode is we had to recruit cold mode is we had to recruit cold And it was always from a recruiter who And it was always from a recruiter who And it was always from a recruiter who has a stealth thing in LinkedIn and on has a stealth thing in LinkedIn and on has a stealth thing in LinkedIn and on their signature. their signature. their signature. >> Yeah. >> Yeah. >> Yeah. >> Okay. Um and you had to go get customers >> Okay. Um and you had to go get customers >> Okay. Um and you had to go get customers with like stealth in LinkedIn like and with like stealth in LinkedIn like and with like stealth in LinkedIn like and you're thousands of people big. This is you're thousands of people big. This is you're thousands of people big. This is hard mode. hard mode. hard mode. >> Yeah. >> Yeah. >> Yeah. >> And it was interesting. We didn't know >> And it was interesting. We didn't know >> And it was interesting. We didn't know how long it was going to go how long it was going to go how long it was going to go >> and you have to trust that no one's >> and you have to trust that no one's >> and you have to trust that no one's going to leak. Um, you know what happens going to leak. Um, you know what happens going to leak. Um, you know what happens is here's the cool part about stealth. is here's the cool part about stealth. is here's the cool part about stealth. If you go that long and I I don't If you go that long and I I don't If you go that long and I I don't recommend this for anybody like it's not recommend this for anybody like it's not recommend this for anybody like it's not a a a >> very special case. >> very special case. >> very special case. >> Yeah. You don't really I don't you know >> Yeah. You don't really I don't you know >> Yeah. You don't really I don't you know but but but eventually eventually eventually there's this break in your narrative there's this break in your narrative there's this break in your narrative like there was this story arc and it was like there was this story arc and it was like there was this story arc and it was going going and then it's discontinuous. going going and then it's discontinuous. going going and then it's discontinuous. It stops and there's this Whoops. Sorry It stops and there's this Whoops. Sorry It stops and there's this Whoops. Sorry about that guys. There's this long about that guys. There's this long about that guys. There's this long period of time now where nothing is period of time now where nothing is period of time now where nothing is filling in. And what happens then is the filling in. And what happens then is the filling in. And what happens then is the media media media doesn't want to cover a story doesn't want to cover a story doesn't want to cover a story because they it's so hard to discuss a because they it's so hard to discuss a because they it's so hard to discuss a thing that has a gap a few years before thing that has a gap a few years before thing that has a gap a few years before it. So it's too hard to do the story and it. So it's too hard to do the story and it. So it's too hard to do the story and it's too hard to cover it. So you get to it's too hard to cover it. So you get to it's too hard to cover it. So you get to this place where it becomes this place where it becomes this place where it becomes self-fulfilling. self-fulfilling. self-fulfilling. >> Yeah. >> Yeah. >> Yeah. >> Where it's easier to be stealth over >> Where it's easier to be stealth over >> Where it's easier to be stealth over time because even if somebody tries to time because even if somebody tries to time because even if somebody tries to leak, nobody even knows what to do with leak, nobody even knows what to do with leak, nobody even knows what to do with it. it. it. >> They're just like, I don't even >> They're just like, I don't even >> They're just like, I don't even understand. And by the way, we did crazy understand. And by the way, we did crazy understand. And by the way, we did crazy stuff. So people know it as cloud stuff. So people know it as cloud stuff. So people know it as cloud kitchens in the US. kitchens in the US. kitchens in the US. >> But it's casinos in Latin America. >> But it's casinos in Latin America. >> But it's casinos in Latin America. >> And we have different names. That means >> And we have different names. That means >> And we have different names. That means like magical kitchens essentially. Uh we like magical kitchens essentially. Uh we like magical kitchens essentially. Uh we have like kitchen valley in Korea. We have like kitchen valley in Korea. We have like kitchen valley in Korea. We have Flash Kitchen and three other names have Flash Kitchen and three other names have Flash Kitchen and three other names in China. We have I mean food stars in in China. We have I mean food stars in in China. We have I mean food stars in London like go it goes you know London like go it goes you know London like go it goes you know >> you know I think it's uh Kitchen Park in >> you know I think it's uh Kitchen Park in >> you know I think it's uh Kitchen Park in Middle East. We were going to go with Middle East. We were going to go with Middle East. We were going to go with Yala kitchens like you know it's like a Yala kitchens like you know it's like a Yala kitchens like you know it's like a bunch of things like this. So it was bunch of things like this. So it was bunch of things like this. So it was very hard to connect the dots. very hard to connect the dots. very hard to connect the dots. >> Yeah, [laughter] you're extra still. >> Yeah, [laughter] you're extra still. >> Yeah, [laughter] you're extra still. >> Yeah. >> Yeah. >> Yeah. >> Anyways, >> Anyways, >> Anyways, >> it worked. And so at at some point an >> it worked. And so at at some point an >> it worked. And so at at some point an even bigger vision for for this company even bigger vision for for this company even bigger vision for for this company emerges to to digitize the physical emerges to to digitize the physical emerges to to digitize the physical world. We're we're category creating the world. We're we're category creating the world. We're we're category creating the you're creating a new category the term you're creating a new category the term you're creating a new category the term industrial AI. industrial AI. industrial AI. >> Yeah. >> Yeah. >> Yeah. >> Talk about when this bigger vision >> Talk about when this bigger vision >> Talk about when this bigger vision starts to culminate. starts to culminate. starts to culminate. >> So look the the vision for digitizing >> So look the the vision for digitizing >> So look the the vision for digitizing the physical world for me started at the physical world for me started at the physical world for me started at Uber. Okay. And treating atoms like bits Uber. Okay. And treating atoms like bits Uber. Okay. And treating atoms like bits started at Uber. You were it was sci-fi started at Uber. You were it was sci-fi started at Uber. You were it was sci-fi at one point. I promise you would touch at one point. I promise you would touch at one point. I promise you would touch glass and a car would come to you. glass and a car would come to you. glass and a car would come to you. >> Yeah. [snorts] >> Yeah. [snorts] >> Yeah. [snorts] >> And you had satellite view. You're >> And you had satellite view. You're >> And you had satellite view. You're watching this car come to you. That was watching this car come to you. That was watching this car come to you. That was crazy. crazy. crazy. >> Now it's just like whatever. Okay. But >> Now it's just like whatever. Okay. But >> Now it's just like whatever. Okay. But it was crazy at the time. Everybody's it was crazy at the time. Everybody's it was crazy at the time. Everybody's first Uber experience was a magical first Uber experience was a magical first Uber experience was a magical moment. moment. moment. >> So we I you know digitizing the physical >> So we I you know digitizing the physical >> So we I you know digitizing the physical world was the thing. And this idea of world was the thing. And this idea of world was the thing. And this idea of what I would call an atomsbased computer what I would call an atomsbased computer what I would call an atomsbased computer was something I sort of was working on was something I sort of was working on was something I sort of was working on in terms of her framework at the end of in terms of her framework at the end of in terms of her framework at the end of Uber, which is CPU manipulates bits, Uber, which is CPU manipulates bits, Uber, which is CPU manipulates bits, storage stores bits, network moves bits storage stores bits, network moves bits storage stores bits, network moves bits from point A to point B. Okay. Well, CPU from point A to point B. Okay. Well, CPU from point A to point B. Okay. Well, CPU manipulates bits. What manipulates manipulates bits. What manipulates manipulates bits. What manipulates atoms? That's manufacturing. Storage atoms? That's manufacturing. Storage atoms? That's manufacturing. Storage stores bits. What stores atoms? That's stores bits. What stores atoms? That's stores bits. What stores atoms? That's real estate. Network moves bits from real estate. Network moves bits from real estate. Network moves bits from point A to point B. What moves atoms? point A to point B. What moves atoms? point A to point B. What moves atoms? Well, that's transport, logistics, and Well, that's transport, logistics, and Well, that's transport, logistics, and those now are your three core computing those now are your three core computing those now are your three core computing resources in an atomsbased computer. And resources in an atomsbased computer. And resources in an atomsbased computer. And you know what? Everything you learn in you know what? Everything you learn in you know what? Everything you learn in your computer science curriculum, your computer science curriculum, your computer science curriculum, everything you learn in engineering, it everything you learn in engineering, it everything you learn in engineering, it plays in the atoms world. Same plays in the atoms world. Same plays in the atoms world. Same frameworks, all the data structures, all frameworks, all the data structures, all frameworks, all the data structures, all the algorithms, it works exactly the the algorithms, it works exactly the the algorithms, it works exactly the same. And I same. And I same. And I >> routing algorithms. >> routing algorithms. >> routing algorithms. >> Oh, totally, totally. In fact, we use we >> Oh, totally, totally. In fact, we use we >> Oh, totally, totally. In fact, we use we use TCP. use TCP. use TCP. We use TCP saw to basically manage how We use TCP saw to basically manage how We use TCP saw to basically manage how much demand to send to certain kitchens much demand to send to certain kitchens much demand to send to certain kitchens based on capacity and reliability as an based on capacity and reliability as an based on capacity and reliability as an example. example. example. >> But like we look at when I go and I I'm >> But like we look at when I go and I I'm >> But like we look at when I go and I I'm messing around like when I'm pitching messing around like when I'm pitching messing around like when I'm pitching this to a tech person who wants to this to a tech person who wants to this to a tech person who wants to understand that 10,000 foot facility I understand that 10,000 foot facility I understand that 10,000 foot facility I call a 10,000 foot semiconductor call a 10,000 foot semiconductor call a 10,000 foot semiconductor >> and it's a 30 core processor 30 >> and it's a 30 core processor 30 >> and it's a 30 core processor 30 kitchens. They're computing atoms, not kitchens. They're computing atoms, not kitchens. They're computing atoms, not bits. The corridors where the food bits. The corridors where the food bits. The corridors where the food moves, that's a network bus. The moves, that's a network bus. The moves, that's a network bus. The processing center is like an L1 cache or processing center is like an L1 cache or processing center is like an L1 cache or something similar. The something similar. The something similar. The >> He's taking this analogy very far. >> He's taking this analogy very far. >> He's taking this analogy very far. >> The cold cold storage where you have ice >> The cold cold storage where you have ice >> The cold cold storage where you have ice cream and juice. Okay, that's cream and juice. Okay, that's cream and juice. Okay, that's precomputed items that sit on the edge. precomputed items that sit on the edge. precomputed items that sit on the edge. Those are your Okami servers. [snorts] Those are your Okami servers. [snorts] Those are your Okami servers. [snorts] >> The courier who comes and picks up the >> The courier who comes and picks up the >> The courier who comes and picks up the food and goes on the road and brings the food and goes on the road and brings the food and goes on the road and brings the the meal to you, he that's a TCP packet. the meal to you, he that's a TCP packet. the meal to you, he that's a TCP packet. This [ __ ] goes forever. This [ __ ] goes forever. This [ __ ] goes forever. >> [laughter] >> [laughter] >> [laughter] >> It's excellent. >> It's excellent. >> It's excellent. >> Okay. So, the vision started at Uber. >> Okay. So, the vision started at Uber. >> Okay. So, the vision started at Uber. >> So, the point is is that Adamsbased >> So, the point is is that Adamsbased >> So, the point is is that Adamsbased computation is a thing and honestly it's computation is a thing and honestly it's computation is a thing and honestly it's always been a thing. And the idea that always been a thing. And the idea that always been a thing. And the idea that oh, okay, Uber was network for the oh, okay, Uber was network for the oh, okay, Uber was network for the physical world, digitized physical world, digitized physical world, digitized transportation. transportation. transportation. And by the way, almost done. Why almost And by the way, almost done. Why almost And by the way, almost done. Why almost done? Because it's almost fully done? Because it's almost fully done? Because it's almost fully software. software. software. >> Yeah. Right? Whimos are cruising. It's >> Yeah. Right? Whimos are cruising. It's >> Yeah. Right? Whimos are cruising. It's almost fully software. But what about almost fully software. But what about almost fully software. But what about what about uh CPU for the physical world what about uh CPU for the physical world what about uh CPU for the physical world and storage for the physical world? and storage for the physical world? and storage for the physical world? Basically digitized manufacturing and Basically digitized manufacturing and Basically digitized manufacturing and digitized real estate. There's just so digitized real estate. There's just so digitized real estate. There's just so much to do there. It's crazy. And so much to do there. It's crazy. And so much to do there. It's crazy. And so there's a huge amount of innovation there's a huge amount of innovation there's a huge amount of innovation there. Not just with what Adams is there. Not just with what Adams is there. Not just with what Adams is doing, but like there's going to be lots doing, but like there's going to be lots doing, but like there's going to be lots of stuff even beyond what we we're of stuff even beyond what we we're of stuff even beyond what we we're doing. doing. doing. It's a portfolio strategy really if It's a portfolio strategy really if It's a portfolio strategy really if you're investing. you're investing. you're investing. >> It's very interesting because you kind >> It's very interesting because you kind >> It's very interesting because you kind of got to the conclusion that we've now of got to the conclusion that we've now of got to the conclusion that we've now all learned from AI which is you can all learned from AI which is you can all learned from AI which is you can model just about anything with model just about anything with model just about anything with computation computation computation >> and you basically were ahead of that in >> and you basically were ahead of that in >> and you basically were ahead of that in modeling this physical world even modeling this physical world even modeling this physical world even metaphorically computation and now kind metaphorically computation and now kind metaphorically computation and now kind of manifesting that of manifesting that of manifesting that >> it's you know probably entirely with AI >> it's you know probably entirely with AI >> it's you know probably entirely with AI on top of your computational. Funny on top of your computational. Funny on top of your computational. Funny because the framework started near the because the framework started near the because the framework started near the end of my Uber time really when we were end of my Uber time really when we were end of my Uber time really when we were getting deep we were going into deep getting deep we were going into deep getting deep we were going into deep learning and heavy duty ML and I was you learning and heavy duty ML and I was you learning and heavy duty ML and I was you know we would go after some of the best know we would go after some of the best know we would go after some of the best AI we had an AI lab that was probably AI we had an AI lab that was probably AI we had an AI lab that was probably one of the best in the world as well and one of the best in the world as well and one of the best in the world as well and I was always pitching that the physical I was always pitching that the physical I was always pitching that the physical world is more interesting world is more interesting world is more interesting >> for this stuff than the digital one >> for this stuff than the digital one >> for this stuff than the digital one >> and you look I'm selling my book like >> and you look I'm selling my book like >> and you look I'm selling my book like that's what we do right But it's you that's what we do right But it's you that's what we do right But it's you have a way way many more uh variables have a way way many more uh variables have a way way many more uh variables axes of stochastic distribution. axes of stochastic distribution. axes of stochastic distribution. >> Yeah. >> Yeah. >> Yeah. >> Which then problem >> Which then problem >> Which then problem >> which then means you're not going to >> which then means you're not going to >> which then means you're not going to solve it with an algorithm. solve it with an algorithm. solve it with an algorithm. >> You're going to solve it by empirically >> You're going to solve it by empirically >> You're going to solve it by empirically understanding how it works. understanding how it works. understanding how it works. >> Yeah. >> Yeah. >> Yeah. >> Right. >> Right. >> Right. >> So let's fast forward to how the the >> So let's fast forward to how the the >> So let's fast forward to how the the bigger vision for atoms comes together bigger vision for atoms comes together bigger vision for atoms comes together in terms of the in terms of the in terms of the >> Yeah. combination of the companies. >> Yeah. combination of the companies. >> Yeah. combination of the companies. [laughter] [laughter] [laughter] >> I keep stopping you. I know. Yeah. >> I keep stopping you. I know. Yeah. >> I keep stopping you. I know. Yeah. >> Um and then I also want to get to the >> Um and then I also want to get to the >> Um and then I also want to get to the partnership because it also ties partnership because it also ties partnership because it also ties together. together. together. >> Yeah, it's all good. >> Yeah, it's all good. >> Yeah, it's all good. >> So, >> So, >> So, okay. okay. okay. You've got to have your manufacturing You've got to have your manufacturing You've got to have your manufacturing logistics hub. That's the real estate. logistics hub. That's the real estate. logistics hub. That's the real estate. You've got to have your automated You've got to have your automated You've got to have your automated production. And you've got to have your production. And you've got to have your production. And you've got to have your autonomous burritos. The minute about a autonomous burritos. The minute about a autonomous burritos. The minute about a year ago, I started looking into year ago, I started looking into year ago, I started looking into autonomous burritos [snorts] and I went autonomous burritos [snorts] and I went autonomous burritos [snorts] and I went to China and checked out all of the to China and checked out all of the to China and checked out all of the autonomy guys. Was here in the US autonomy guys. Was here in the US autonomy guys. Was here in the US talking to a lot of the autonomy guys. talking to a lot of the autonomy guys. talking to a lot of the autonomy guys. Word got out. They're like, Travis is Word got out. They're like, Travis is Word got out. They're like, Travis is looking at autonomy again. People looking at autonomy again. People looking at autonomy again. People started going, started going, started going, "What's going on?" "What's going on?" "What's going on?" >> Yeah. >> Yeah. >> Yeah. >> Yeah. And >> Yeah. And >> Yeah. And you know, folks like, you know, folks you know, folks like, you know, folks you know, folks like, you know, folks like Uber, other partners across like Uber, other partners across like Uber, other partners across different categories were like we're different categories were like we're different categories were like we're interested like for one reason or interested like for one reason or interested like for one reason or another because it's like you could even another because it's like you could even another because it's like you could even be do you could be like supply chain guy be do you could be like supply chain guy be do you could be like supply chain guy on food. You're also saying I need to on food. You're also saying I need to on food. You're also saying I need to have I I for business continuity and have I I for business continuity and have I I for business continuity and just like peace of mind. I need to have just like peace of mind. I need to have just like peace of mind. I need to have another alternative for how these another alternative for how these another alternative for how these freight uh how these trucks heavy freight uh how these trucks heavy freight uh how these trucks heavy transport are going to move and um I transport are going to move and um I transport are going to move and um I need an alternative and I'd love to have need an alternative and I'd love to have need an alternative and I'd love to have a partner as an example this kind of a partner as an example this kind of a partner as an example this kind of stuff. stuff. stuff. And so, And so, And so, okay, so partnered with a couple folks, okay, so partnered with a couple folks, okay, so partnered with a couple folks, actually created a new company to do it actually created a new company to do it actually created a new company to do it because funding autonomy through a sort because funding autonomy through a sort because funding autonomy through a sort of core food company of core food company of core food company just wasn't going to work at first. And just wasn't going to work at first. And just wasn't going to work at first. And the reason why is because it's like the reason why is because it's like the reason why is because it's like these are just different profiles. A these are just different profiles. A these are just different profiles. A real estate company. This is like heavy real estate company. This is like heavy real estate company. This is like heavy duty software. Big big money going after duty software. Big big money going after duty software. Big big money going after it. it. it. >> It's like a computer company trying to >> It's like a computer company trying to >> It's like a computer company trying to build a network company off of the side. build a network company off of the side. build a network company off of the side. >> [laughter] >> [laughter] >> [laughter] >> you got to you got to buy a networking >> you got to you got to buy a networking >> you got to you got to buy a networking company. company. company. >> So So we just got and these partners >> So So we just got and these partners >> So So we just got and these partners wanted a pure play and so we created wanted a pure play and so we created wanted a pure play and so we created that sort of near the end of last year. that sort of near the end of last year. that sort of near the end of last year. But what happened is it's like you got But what happened is it's like you got But what happened is it's like you got to get okay well now I need to get my to get okay well now I need to get my to get okay well now I need to get my team together. I need to get my guys team together. I need to get my guys team together. I need to get my guys from way back when 2016 when we were from way back when 2016 when we were from way back when 2016 when we were 2017 we were we were running hardcore at 2017 we were we were running hardcore at 2017 we were we were running hardcore at autonomy. We need to get that going autonomy. We need to get that going autonomy. We need to get that going because if you're going to be in the because if you're going to be in the because if you're going to be in the specialized robotics game, you have to specialized robotics game, you have to specialized robotics game, you have to have autonomy for yourself. You have to have autonomy for yourself. You have to have autonomy for yourself. You have to your robots are act are moving and your robots are act are moving and your robots are act are moving and acting in the physical world and you acting in the physical world and you acting in the physical world and you cannot depend of on only one company cannot depend of on only one company cannot depend of on only one company that has an existence proof. Now, of that has an existence proof. Now, of that has an existence proof. Now, of course, Tesla's going to get there, you course, Tesla's going to get there, you course, Tesla's going to get there, you know, sometime soon or maybe some amount know, sometime soon or maybe some amount know, sometime soon or maybe some amount of time. We don't know exactly. Um, of time. We don't know exactly. Um, of time. We don't know exactly. Um, you got to you you can't be dependent in you got to you you can't be dependent in you got to you you can't be dependent in that way. And so, okay, get your team that way. And so, okay, get your team that way. And so, okay, get your team together. Uh, Eric Myhoffer, who ran together. Uh, Eric Myhoffer, who ran together. Uh, Eric Myhoffer, who ran ATG, is already running my food robotics ATG, is already running my food robotics ATG, is already running my food robotics division. Um, that's Uber's advanced division. Um, that's Uber's advanced division. Um, that's Uber's advanced technology group, uh, is is working for technology group, uh, is is working for technology group, uh, is is working for us. Uh and then uh Anthony Lewendowski us. Uh and then uh Anthony Lewendowski us. Uh and then uh Anthony Lewendowski who was one of my top leads uh on who was one of my top leads uh on who was one of my top leads uh on autonomy in back at Uber was running uh autonomy in back at Uber was running uh autonomy in back at Uber was running uh pronto which was an autonomous mining pronto which was an autonomous mining pronto which was an autonomous mining company. Let's call it off-road autonomy company. Let's call it off-road autonomy company. Let's call it off-road autonomy but in a workflow or category where it's but in a workflow or category where it's but in a workflow or category where it's like much more than just like this thing like much more than just like this thing like much more than just like this thing needs to move. It's like how does it needs to move. It's like how does it needs to move. It's like how does it move? What is the context for which it's move? What is the context for which it's move? What is the context for which it's moving? It's like a very specialized moving? It's like a very specialized moving? It's like a very specialized thing. Yeah. I was the biggest investor thing. Yeah. I was the biggest investor thing. Yeah. I was the biggest investor in Pronto. I'm like, let's go. So, uh, in Pronto. I'm like, let's go. So, uh, in Pronto. I'm like, let's go. So, uh, acquired Pronto and now I'm in the acquired Pronto and now I'm in the acquired Pronto and now I'm in the mining business. But it's not like I mining business. But it's not like I mining business. But it's not like I didn't know about it. I was the biggest didn't know about it. I was the biggest didn't know about it. I was the biggest investor in it to begin with for a good investor in it to begin with for a good investor in it to begin with for a good reason. reason. reason. >> It's one of the most beautiful and >> It's one of the most beautiful and >> It's one of the most beautiful and interesting interesting interesting autonomy categories or use cases. And on autonomy categories or use cases. And on autonomy categories or use cases. And on our mining business, we, you know, we our mining business, we, you know, we our mining business, we, you know, we have our mission statement is more have our mission statement is more have our mission statement is more productive mines to power Earth's productive mines to power Earth's productive mines to power Earth's industries. We can go to a gold a gold industries. We can go to a gold a gold industries. We can go to a gold a gold mine CEO right now and say, "Would you mine CEO right now and say, "Would you mine CEO right now and say, "Would you like to get 20% more gold per year?" like to get 20% more gold per year?" like to get 20% more gold per year?" We don't get no We don't get no We don't get no [laughter] [laughter] [laughter] >> right now. He says, "Prove it." He says, >> right now. He says, "Prove it." He says, >> right now. He says, "Prove it." He says, "Prove it." And we're like, "Let's go." "Prove it." And we're like, "Let's go." "Prove it." And we're like, "Let's go." >> But that's what's happened is so >> But that's what's happened is so >> But that's what's happened is so separately, Pronto is working on mining separately, Pronto is working on mining separately, Pronto is working on mining for eight years on their own. seven, for eight years on their own. seven, for eight years on their own. seven, eight years on their own. Go ahead. eight years on their own. Go ahead. eight years on their own. Go ahead. >> Also a great a great target for autonomy >> Also a great a great target for autonomy >> Also a great a great target for autonomy because you know maybe the worst job for because you know maybe the worst job for because you know maybe the worst job for humans there is is the mining jobs, humans there is is the mining jobs, humans there is is the mining jobs, right? right? right? >> And we have so our mining customers >> And we have so our mining customers >> And we have so our mining customers because we're operating in a bunch of because we're operating in a bunch of because we're operating in a bunch of mines around the world. Our mining mines around the world. Our mining mines around the world. Our mining customers have existential safety customers have existential safety customers have existential safety problems problems problems or let's call it safety issues, safety or let's call it safety issues, safety or let's call it safety issues, safety concerns. concerns. concerns. >> Yeah. like where bad things can happen >> Yeah. like where bad things can happen >> Yeah. like where bad things can happen on any given day and you've got real on any given day and you've got real on any given day and you've got real people that are putting their lives on people that are putting their lives on people that are putting their lives on the line when they're on when they're at the line when they're on when they're at the line when they're on when they're at these mines. And so when you automate these mines. And so when you automate these mines. And so when you automate certain parts of mining, you certain parts of mining, you certain parts of mining, you dramatically improve dramatically improve dramatically improve safety and you I mean in a real way. Uh safety and you I mean in a real way. Uh safety and you I mean in a real way. Uh that's like when you look at the work that's like when you look at the work that's like when you look at the work that's being done and how it's being that's being done and how it's being that's being done and how it's being done, it's uh a little bit done, it's uh a little bit done, it's uh a little bit heart-wrenching when you are exposed to heart-wrenching when you are exposed to heart-wrenching when you are exposed to it and you see how minds work. It's it's it and you see how minds work. It's it's it and you see how minds work. It's it's not the mind's fault. It's just the not the mind's fault. It's just the not the mind's fault. It's just the nature of the work and um there's a nature of the work and um there's a nature of the work and um there's a massive safety upside that goes along massive safety upside that goes along massive safety upside that goes along with the productivity upside which is with the productivity upside which is with the productivity upside which is really special. Um really special. Um really special. Um >> yeah. So, so what happened is is that >> yeah. So, so what happened is is that >> yeah. So, so what happened is is that Pronto just now is coming past human Pronto just now is coming past human Pronto just now is coming past human productivity. productivity. productivity. So, it's like you do it's like any So, it's like you do it's like any So, it's like you do it's like any enterprise software company. Yeah. enterprise software company. Yeah. enterprise software company. Yeah. >> You do some cool pilots with big >> You do some cool pilots with big >> You do some cool pilots with big companies, you got stuff and you're companies, you got stuff and you're companies, you got stuff and you're like, "Dude, I've got like I've got like like, "Dude, I've got like I've got like like, "Dude, I've got like I've got like eight seats at this 10,000 person eight seats at this 10,000 person eight seats at this 10,000 person company and you're like, "Okay, maybe." company and you're like, "Okay, maybe." company and you're like, "Okay, maybe." >> And then all of a sudden it's better. >> And then all of a sudden it's better. >> And then all of a sudden it's better. >> And in the autonomy world, it's about >> And in the autonomy world, it's about >> And in the autonomy world, it's about it's better than human productivity. it's better than human productivity. it's better than human productivity. That means your minds and the quaries That means your minds and the quaries That means your minds and the quaries and it's like it's like exactly and it's like it's like exactly and it's like it's like exactly >> go time. That's when you hit the gas. So >> go time. That's when you hit the gas. So >> go time. That's when you hit the gas. So we're gonna see we're gonna see we're gonna see >> super exponential. We're seeing it. >> super exponential. We're seeing it. >> super exponential. We're seeing it. We're in the middle of it right now. We're in the middle of it right now. We're in the middle of it right now. Super exponential growth on the mining Super exponential growth on the mining Super exponential growth on the mining side, which is super special. These guys side, which is super special. These guys side, which is super special. These guys ran a very lean startup for a long time. ran a very lean startup for a long time. ran a very lean startup for a long time. And now I'm going to their customers who And now I'm going to their customers who And now I'm going to their customers who are begging us to move faster and get are begging us to move faster and get are begging us to move faster and get more out there. We have to manufacture more out there. We have to manufacture more out there. We have to manufacture kits. Sorry. We have to do supply chain kits. Sorry. We have to do supply chain kits. Sorry. We have to do supply chain and manufacturer kits. We have to and manufacturer kits. We have to and manufacturer kits. We have to install these kits on these machines install these kits on these machines install these kits on these machines that are in the middle of the Amazon or that are in the middle of the Amazon or that are in the middle of the Amazon or on the border of Saudi and Iraq or like on the border of Saudi and Iraq or like on the border of Saudi and Iraq or like in these crazy wild places. Um, and do in these crazy wild places. Um, and do in these crazy wild places. Um, and do it fast it fast it fast and then do the change management at and then do the change management at and then do the change management at every one of these mines. So, they're every one of these mines. So, they're every one of these mines. So, they're like, "It's time to go. Let's go." And like, "It's time to go. Let's go." And like, "It's time to go. Let's go." And they're pushing us. And so, our, you they're pushing us. And so, our, you they're pushing us. And so, our, you know, how we talk to them is like, know, how we talk to them is like, know, how we talk to them is like, "Look, we were a lean startup and we're "Look, we were a lean startup and we're "Look, we were a lean startup and we're going to muscular." going to muscular." going to muscular." >> Yeah. And that's how I talk to the team, >> Yeah. And that's how I talk to the team, >> Yeah. And that's how I talk to the team, too, because you don't want them to get too, because you don't want them to get too, because you don't want them to get fat. fat. fat. >> Yeah. >> Yeah. >> Yeah. >> It's like lean muscle, you know. >> It's like lean muscle, you know. >> It's like lean muscle, you know. >> Yes. >> Yes. >> Yes. >> Um, but we need some protein shakes, you >> Um, but we need some protein shakes, you >> Um, but we need some protein shakes, you know, and creatine and things like that. know, and creatine and things like that. know, and creatine and things like that. And it's about process, And it's about process, And it's about process, professionalizing a lot of this stuff. professionalizing a lot of this stuff. professionalizing a lot of this stuff. But it's in some ways the growth there But it's in some ways the growth there But it's in some ways the growth there is almost deterministic is almost deterministic is almost deterministic >> as long as you do the professional >> as long as you do the professional >> as long as you do the professional things to like get all that stuff in things to like get all that stuff in things to like get all that stuff in mind. But what it means is that existing mind. But what it means is that existing mind. But what it means is that existing minds are going to be producing more and minds are going to be producing more and minds are going to be producing more and they're going to be able to go much they're going to be able to go much they're going to be able to go much further and getting more and new minds further and getting more and new minds further and getting more and new minds are going to emerge that couldn't that are going to emerge that couldn't that are going to emerge that couldn't that were not viable before and what that were not viable before and what that were not viable before and what that means for AI what that means for means for AI what that means for means for AI what that means for progress here and everywhere progress here and everywhere progress here and everywhere super big deal. super big deal. super big deal. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. And so to to continue, we'll get to the And so to to continue, we'll get to the And so to to continue, we'll get to the partnership conversation. [laughter] At partnership conversation. [laughter] At partnership conversation. [laughter] At what at what point does this become sort what at what point does this become sort what at what point does this become sort of a are you thinking from the beginning of a are you thinking from the beginning of a are you thinking from the beginning this is a conglomerate or at what point this is a conglomerate or at what point this is a conglomerate or at what point does this become all wrapped up in the does this become all wrapped up in the does this become all wrapped up in the in the atoms? in the atoms? in the atoms? >> Well, so this I mean the the fund raise >> Well, so this I mean the the fund raise >> Well, so this I mean the the fund raise was part of it. So what happened is is was part of it. So what happened is is was part of it. So what happened is is we started the fund raise and you know we started the fund raise and you know we started the fund raise and you know Ben remembers this because I gave him a Ben remembers this because I gave him a Ben remembers this because I gave him a preview at first at at in Vegas actually preview at first at at in Vegas actually preview at first at at in Vegas actually and I'm like uh I was like the guy with and I'm like uh I was like the guy with and I'm like uh I was like the guy with a trench coat that's got like 20 a trench coat that's got like 20 a trench coat that's got like 20 watches. I'm like, "Which watch do you watches. I'm like, "Which watch do you watches. I'm like, "Which watch do you want?" I got a I got all kinds of want?" I got a I got all kinds of want?" I got a I got all kinds of watches. And he's like, "Dude, I just watches. And he's like, "Dude, I just watches. And he's like, "Dude, I just want the whole freaking trench coat, want the whole freaking trench coat, want the whole freaking trench coat, dude. Like I you know, the the idea dude. Like I you know, the the idea dude. Like I you know, the the idea being I don't want to invest in mining being I don't want to invest in mining being I don't want to invest in mining or transport or food. I want the things or transport or food. I want the things or transport or food. I want the things that you're doing and let's be partners that you're doing and let's be partners that you're doing and let's be partners for all the things you do." And so for all the things you do." And so for all the things you do." And so that's that was the impetus for that's that was the impetus for that's that was the impetus for um bringing the companies together um bringing the companies together um bringing the companies together >> creation of >> creation of >> creation of >> and the funding itself. Yeah. The >> and the funding itself. Yeah. The >> and the funding itself. Yeah. The creation of atoms and the funding itself creation of atoms and the funding itself creation of atoms and the funding itself uh being at what we would call topco uh being at what we would call topco uh being at what we would call topco level. level. level. >> Yeah. >> Yeah. >> Yeah. >> Right. And so now it's just one entity. >> Right. And so now it's just one entity. >> Right. And so now it's just one entity. I mean there's sub entities there all I mean there's sub entities there all I mean there's sub entities there all over the place but but it's one equity over the place but but it's one equity over the place but but it's one equity structure uh which is great for the structure uh which is great for the structure uh which is great for the employees employees employees and great for me because managing I and great for me because managing I and great for me because managing I honestly I don't know how Elon does it honestly I don't know how Elon does it honestly I don't know how Elon does it or did it slash does it. It's pretty or did it slash does it. It's pretty or did it slash does it. It's pretty wild and I'm really glad I don't have wild and I'm really glad I don't have wild and I'm really glad I don't have that headache to be honest. Yeah. that headache to be honest. Yeah. that headache to be honest. Yeah. >> Yeah. Yeah. It's very complicated >> Yeah. Yeah. It's very complicated >> Yeah. Yeah. It's very complicated alignment. alignment. alignment. Um but Um but Um but you know it it's a kind of an you know it it's a kind of an you know it it's a kind of an interesting point because it's very interesting point because it's very interesting point because it's very obvious to you know when we talked about obvious to you know when we talked about obvious to you know when we talked about it here it here it here the way it should work and I and I think the way it should work and I and I think the way it should work and I and I think the the narrative of how these things the the narrative of how these things the the narrative of how these things get built is um mistold constantly by get built is um mistold constantly by get built is um mistold constantly by the industry by the press which is you the industry by the press which is you the industry by the press which is you know if you hear about know if you hear about know if you hear about how did Facebook come about how did how did Facebook come about how did how did Facebook come about how did Google come about how did you know Tesla Google come about how did you know Tesla Google come about how did you know Tesla come oh they had this idea Yeah. And the come oh they had this idea Yeah. And the come oh they had this idea Yeah. And the idea was to do this. Um, but that's not idea was to do this. Um, but that's not idea was to do this. Um, but that's not really what happened. A lot of really what happened. A lot of really what happened. A lot of [ __ ] had that idea. You know, [ __ ] had that idea. You know, [ __ ] had that idea. You know, there's a lot of those ideas out there. there's a lot of those ideas out there. there's a lot of those ideas out there. And like if you look at Tesla, there was And like if you look at Tesla, there was And like if you look at Tesla, there was a very famous documentary called Who a very famous documentary called Who a very famous documentary called Who Killed the Electric Car that came out Killed the Electric Car that came out Killed the Electric Car that came out before Tesla. And if you were an before Tesla. And if you were an before Tesla. And if you were an entrepreneur watching that, what you entrepreneur watching that, what you entrepreneur watching that, what you would see is would see is would see is big oil, big auto, big government. big oil, big auto, big government. big oil, big auto, big government. >> We're never going to let that happen. >> We're never going to let that happen. >> We're never going to let that happen. They would kill you. Um, but then the They would kill you. Um, but then the They would kill you. Um, but then the reality is, oh, Elon Musk, that reality is, oh, Elon Musk, that reality is, oh, Elon Musk, that [ __ ] is hard to kill, right? [ __ ] is hard to kill, right? [ __ ] is hard to kill, right? Like, so he by himself kind of Like, so he by himself kind of Like, so he by himself kind of decarbonized decarbonized decarbonized American auto industry, which is, you American auto industry, which is, you American auto industry, which is, you know, really unbelievable in retrospect, know, really unbelievable in retrospect, know, really unbelievable in retrospect, but then it gets told, right? Like if but then it gets told, right? Like if but then it gets told, right? Like if you listen to the politicians now, you listen to the politicians now, you listen to the politicians now, they're like, "Oh, he didn't build they're like, "Oh, he didn't build they're like, "Oh, he didn't build Tesla. [snorts] He just like struck a Tesla. [snorts] He just like struck a Tesla. [snorts] He just like struck a gold mine and is just pulling the gold gold mine and is just pulling the gold gold mine and is just pulling the gold out." Like all those people built it. out." Like all those people built it. out." Like all those people built it. Yeah. But why didn't all those people Yeah. But why didn't all those people Yeah. But why didn't all those people build another Tesla? Like there's only build another Tesla? Like there's only build another Tesla? Like there's only one because there's only one nonfgeible one because there's only one nonfgeible one because there's only one nonfgeible very rare person in that equation very rare person in that equation very rare person in that equation >> who could do that. And same and that's >> who could do that. And same and that's >> who could do that. And same and that's why there's only one SpaceX. Uh and why there's only one SpaceX. Uh and why there's only one SpaceX. Uh and that's why you know that's why Meta is that's why you know that's why Meta is that's why you know that's why Meta is Meta and Fster Fster and all that kind Meta and Fster Fster and all that kind Meta and Fster Fster and all that kind of thing. of thing. of thing. >> That's a good one. I haven't heard that >> That's a good one. I haven't heard that >> That's a good one. I haven't heard that one for a long time. one for a long time. one for a long time. >> Yeah, [laughter] >> Yeah, [laughter] >> Yeah, [laughter] >> it's good. And so to build, you know, to >> it's good. And so to build, you know, to >> it's good. And so to build, you know, to build a company, build a company, build a company, you know, a great company, it's always a you know, a great company, it's always a you know, a great company, it's always a great entrepreneur. And so when we great entrepreneur. And so when we great entrepreneur. And so when we looked at it, we're like there's a very looked at it, we're like there's a very looked at it, we're like there's a very few entrepreneurs, few entrepreneurs, few entrepreneurs, you know, in the history of the valley you know, in the history of the valley you know, in the history of the valley that built something like Uber. Uh, and that built something like Uber. Uh, and that built something like Uber. Uh, and that Uber basically it survived and is that Uber basically it survived and is that Uber basically it survived and is still a very valuable company without still a very valuable company without still a very valuable company without him, which almost, you know, like that him, which almost, you know, like that him, which almost, you know, like that never happens without the founder. I never happens without the founder. I never happens without the founder. I mean, it it's usually turns to crap very mean, it it's usually turns to crap very mean, it it's usually turns to crap very fast. And so that was what we like, yes, fast. And so that was what we like, yes, fast. And so that was what we like, yes, the idea is great, the ambition is the idea is great, the ambition is the idea is great, the ambition is amazing, it's going to be amazing for amazing, it's going to be amazing for amazing, it's going to be amazing for the world if he pulls it off, but like the world if he pulls it off, but like the world if he pulls it off, but like we want to invest in the guy who could we want to invest in the guy who could we want to invest in the guy who could pull it off. And and that's kind of what pull it off. And and that's kind of what pull it off. And and that's kind of what drove drove the whole thing. drove drove the whole thing. drove drove the whole thing. >> And there's a fun thing. I I realized >> And there's a fun thing. I I realized >> And there's a fun thing. I I realized this at Uber too is that this at Uber too is that this at Uber too is that I think I in many ways maybe maybe Bezos I think I in many ways maybe maybe Bezos I think I in many ways maybe maybe Bezos was the guy to sort of really go there was the guy to sort of really go there was the guy to sort of really go there which is which is which is uh the only constraint to your uh the only constraint to your uh the only constraint to your imagination is management capacity imagination is management capacity imagination is management capacity because like look at all the things that because like look at all the things that because like look at all the things that Amazon started doing. They were earlier Amazon started doing. They were earlier Amazon started doing. They were earlier than everybody else starting to do lots than everybody else starting to do lots than everybody else starting to do lots of things, right? of things, right? of things, right? >> And so I'm like >> And so I'm like >> And so I'm like >> oh by the way another good one. How many >> oh by the way another good one. How many >> oh by the way another good one. How many [ __ ] had the idea for an online [ __ ] had the idea for an online [ __ ] had the idea for an online bookstore, online retailer, online any bookstore, online retailer, online any bookstore, online retailer, online any of that? of that? of that? >> There we [snorts] go. >> There we [snorts] go. >> There we [snorts] go. >> And how many Amazons? >> And how many Amazons? >> And how many Amazons? >> Yeah, totally. >> Yeah, totally. >> Yeah, totally. >> You know, and and by the way, Jeff, like >> You know, and and by the way, Jeff, like >> You know, and and by the way, Jeff, like everybody who knows Jeff, everybody's everybody who knows Jeff, everybody's everybody who knows Jeff, everybody's heard him talk, you're like, "Oh, he's heard him talk, you're like, "Oh, he's heard him talk, you're like, "Oh, he's very special. That's a special CEO right very special. That's a special CEO right very special. That's a special CEO right there." And and that look and that's our there." And and that look and that's our there." And and that look and that's our business is to invest in that kind of business is to invest in that kind of business is to invest in that kind of very very special individual. And very very special individual. And very very special individual. And they're super rare. And so they're super rare. And so they're super rare. And so I think in many ways Bezos may have been I think in many ways Bezos may have been I think in many ways Bezos may have been I always want to say the OG on something I always want to say the OG on something I always want to say the OG on something but then you find out a hundred years but then you find out a hundred years but then you find out a hundred years earlier somebody else did that. But earlier somebody else did that. But earlier somebody else did that. But >> of our time where it's like >> of our time where it's like >> of our time where it's like >> how did AWS happen? It literally had >> how did AWS happen? It literally had >> how did AWS happen? It literally had nothing to do with a bookstore really. nothing to do with a bookstore really. nothing to do with a bookstore really. >> Nothing. >> Nothing. >> Nothing. >> I mean there's there's some fun stories >> I mean there's there's some fun stories >> I mean there's there's some fun stories they tell but it's like this is just a they tell but it's like this is just a they tell but it's like this is just a whole new thing. whole new thing. whole new thing. >> Yeah. But yeah, by the way it wasn't >> Yeah. But yeah, by the way it wasn't >> Yeah. But yeah, by the way it wasn't like the [ __ ] that was running Amazon. like the [ __ ] that was running Amazon. like the [ __ ] that was running Amazon. >> Yeah. No, totally. That's my point. >> Yeah. No, totally. That's my point. >> Yeah. No, totally. That's my point. Yeah. Yeah. So, Yeah. Yeah. So, Yeah. Yeah. So, >> so >> so >> so >> once you get the foothold, the beach >> once you get the foothold, the beach >> once you get the foothold, the beach head, whatever, and it's working head, whatever, and it's working head, whatever, and it's working >> you can start going, you Uber rides, >> you can start going, you Uber rides, >> you can start going, you Uber rides, then it's Uber Eats, then it's Uber Eats, then it's Uber Eats, >> then it's Uber autonomy, then it was >> then it's Uber autonomy, then it was >> then it's Uber autonomy, then it was Uber Freight, then it's like Uber AI Uber Freight, then it's like Uber AI Uber Freight, then it's like Uber AI labs. Like, you can start letting your labs. Like, you can start letting your labs. Like, you can start letting your imagination with constraints start to do imagination with constraints start to do imagination with constraints start to do really interesting things. really interesting things. really interesting things. And so where you start matters. And so where you start matters. And so where you start matters. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> You're right. And it has to be like you >> You're right. And it has to be like you >> You're right. And it has to be like you need knowledge. need knowledge. need knowledge. >> Yeah. >> Yeah. >> Yeah. >> Right. Like the the thing that Amazon >> Right. Like the the thing that Amazon >> Right. Like the the thing that Amazon did have on AWS is they had knowledge of did have on AWS is they had knowledge of did have on AWS is they had knowledge of what it meant to run these things at what it meant to run these things at what it meant to run these things at scale scale scale >> because they were the first to get to or >> because they were the first to get to or >> because they were the first to get to or one of the first like five to get to one of the first like five to get to one of the first like five to get to that kind of scale. And so they had that that kind of scale. And so they had that that kind of scale. And so they had that knowledge. knowledge. knowledge. >> Totally different business totally but >> Totally different business totally but >> Totally different business totally but they had the knowledge about what the they had the knowledge about what the they had the knowledge about what the product should be. product should be. product should be. >> Yeah. And because he's a customer of >> Yeah. And because he's a customer of >> Yeah. And because he's a customer of these things, right, at Uber, he all of these things, right, at Uber, he all of these things, right, at Uber, he all of a sudden he knows what the network is. a sudden he knows what the network is. a sudden he knows what the network is. He knows how to do that. He knows how to do that. He knows how to do that. >> And although it's a totally different >> And although it's a totally different >> And although it's a totally different business, that knowledge is transferable business, that knowledge is transferable business, that knowledge is transferable if you if you can scale and execute and if you if you can scale and execute and if you if you can scale and execute and expand management expand management expand management >> and sometimes you go to sometimes those >> and sometimes you go to sometimes those >> and sometimes you go to sometimes those C look adjacent categories are way C look adjacent categories are way C look adjacent categories are way easier than whole new easier than whole new easier than whole new >> Oh, yeah. >> Oh, yeah. >> Oh, yeah. >> off the rails categories. Yeah. >> off the rails categories. Yeah. >> off the rails categories. Yeah. >> Yes. And and there's also I I mean the >> Yes. And and there's also I I mean the >> Yes. And and there's also I I mean the amazing thing about AWS is it's one of amazing thing about AWS is it's one of amazing thing about AWS is it's one of the few expansions where like nobody the few expansions where like nobody the few expansions where like nobody would think well what I want to buy from would think well what I want to buy from would think well what I want to buy from Amazon is like a compute cloud. Like Amazon is like a compute cloud. Like Amazon is like a compute cloud. Like nobody was thinking that at the time. nobody was thinking that at the time. nobody was thinking that at the time. >> Yeah. No. >> Yeah. No. >> Yeah. No. >> You know like there there's always oh I >> You know like there there's always oh I >> You know like there there's always oh I should sell them more stuff they want to should sell them more stuff they want to should sell them more stuff they want to buy from me. buy from me. buy from me. >> But that's a that's a whole another >> But that's a that's a whole another >> But that's a that's a whole another >> that's a whole another thing. But, you >> that's a whole another thing. But, you >> that's a whole another thing. But, you know, if you're if you have that level know, if you're if you have that level know, if you're if you have that level of Jeff skill, which like in terms of of Jeff skill, which like in terms of of Jeff skill, which like in terms of organizational design, organizational design, organizational design, cultural continuity, that guy is cultural continuity, that guy is cultural continuity, that guy is >> Peak Bezos hard to beat. >> Peak Bezos hard to beat. >> Peak Bezos hard to beat. >> Very good. >> Very good. >> Very good. >> Yeah. So, where you start matters. >> Yeah. So, where you start matters. >> Yeah. So, where you start matters. >> Yeah. Don't let him living his best >> Yeah. Don't let him living his best >> Yeah. Don't let him living his best life. [laughter] life. [laughter] life. [laughter] >> He gets a lot of bad PR for that. Well, >> He gets a lot of bad PR for that. Well, >> He gets a lot of bad PR for that. Well, I was wondering you, Travis, you could I was wondering you, Travis, you could I was wondering you, Travis, you could have had a version of living your best have had a version of living your best have had a version of living your best life where you just like, hey, life where you just like, hey, life where you just like, hey, >> this is what I do, you know, or or was >> this is what I do, you know, or or was >> this is what I do, you know, or or was it like, I'm going to keep doing it it like, I'm going to keep doing it it like, I'm going to keep doing it forever, or was it like, hey, I I chased forever, or was it like, hey, I I chased forever, or was it like, hey, I I chased the promised land. I got really far, but the promised land. I got really far, but the promised land. I got really far, but I could have got so much further. I'm I could have got so much further. I'm I could have got so much further. I'm going to get there next. What was the going to get there next. What was the going to get there next. What was the sort of motivation to just get right sort of motivation to just get right sort of motivation to just get right back in the back in the back in the >> It's just I love being in the arena >> It's just I love being in the arena >> It's just I love being in the arena fighting it. And it's not, you know, fighting it. And it's not, you know, fighting it. And it's not, you know, >> by the way, he's one of the very rare >> by the way, he's one of the very rare >> by the way, he's one of the very rare rare guys who made as much money as he rare guys who made as much money as he rare guys who made as much money as he did and wanted to keep playing. I mean, did and wanted to keep playing. I mean, did and wanted to keep playing. I mean, >> and start over basically. Not totally, >> and start over basically. Not totally, >> and start over basically. Not totally, but almost completely, right? but almost completely, right? but almost completely, right? >> So the >> So the >> So the Yeah, you got to really want because Yeah, you got to really want because Yeah, you got to really want because also remember I did it stealth. Yeah. also remember I did it stealth. Yeah. also remember I did it stealth. Yeah. >> So what it means here's the thing about >> So what it means here's the thing about >> So what it means here's the thing about stealth is that stealth is that stealth is that >> stealth and starting at the bottom, >> stealth and starting at the bottom, >> stealth and starting at the bottom, right? Like doing it by hand, right? right? Like doing it by hand, right? right? Like doing it by hand, right? like not not like not not like not not >> like I walked in I acquired this company >> like I walked in I acquired this company >> like I walked in I acquired this company >> executive chairman >> executive chairman >> executive chairman >> I I acquired I acquired Cloud Kitchens >> I I acquired I acquired Cloud Kitchens >> I I acquired I acquired Cloud Kitchens uh partnered with a buddy of mine Diego uh partnered with a buddy of mine Diego uh partnered with a buddy of mine Diego right and right and right and >> there were like six people in the >> there were like six people in the >> there were like six people in the company that I acquired okay so it was company that I acquired okay so it was company that I acquired okay so it was so funny because you got to think the so funny because you got to think the so funny because you got to think the last all hands I did had 20,000 people last all hands I did had 20,000 people last all hands I did had 20,000 people >> the next all hands I did and it's the >> the next all hands I did and it's the >> the next all hands I did and it's the only company I was in had six and I only company I was in had six and I only company I was in had six and I stood in front just like the same and stood in front just like the same and stood in front just like the same and I'm like Let's [ __ ] go, guys. Let's I'm like Let's [ __ ] go, guys. Let's I'm like Let's [ __ ] go, guys. Let's do this. [laughter] do this. [laughter] do this. [laughter] Charts, you know, like here what's Charts, you know, like here what's Charts, you know, like here what's happening. We're, you know, let's roll. happening. We're, you know, let's roll. happening. We're, you know, let's roll. Let's do it. And um these guys who like Let's do it. And um these guys who like Let's do it. And um these guys who like I just walked in. They're like, "What I just walked in. They're like, "What I just walked in. They're like, "What the [ __ ] just happened?" the [ __ ] just happened?" the [ __ ] just happened?" >> They went to work that morning at a >> They went to work that morning at a >> They went to work that morning at a sixperson startup and an hour later, the sixperson startup and an hour later, the sixperson startup and an hour later, the founder of Uber is now the CEO. founder of Uber is now the CEO. founder of Uber is now the CEO. [laughter] [laughter] [laughter] >> Yeah. Yeah. Yeah. That is wild. And then >> Yeah. Yeah. Yeah. That is wild. And then >> Yeah. Yeah. Yeah. That is wild. And then by by the way, like we I we've seen it by by the way, like we I we've seen it by by the way, like we I we've seen it so many times where somebody gets to the so many times where somebody gets to the so many times where somebody gets to the penthouse and they're like, "Oh, I want penthouse and they're like, "Oh, I want penthouse and they're like, "Oh, I want to do a new thing." But they don't want to do a new thing." But they don't want to do a new thing." But they don't want to go all the [laughter] way down to the to go all the [laughter] way down to the to go all the [laughter] way down to the ground floor and start at the bottom ground floor and start at the bottom ground floor and start at the bottom [ __ ] putting the building together. [ __ ] putting the building together. [ __ ] putting the building together. Okay, now you're in a [ __ ] shotgun Okay, now you're in a [ __ ] shotgun Okay, now you're in a [ __ ] shotgun house. They want to jump [laughter] house. They want to jump [laughter] house. They want to jump [laughter] >> Yeah. >> Yeah. >> Yeah. >> all the way to the which never works. >> all the way to the which never works. >> all the way to the which never works. You You can't start at the top. You You can't start at the top. You You can't start at the top. >> Yeah. Well, and the bottom thing also is >> Yeah. Well, and the bottom thing also is >> Yeah. Well, and the bottom thing also is about there's a humility thing to it. about there's a humility thing to it. about there's a humility thing to it. >> Yeah. And there's like there there's an >> Yeah. And there's like there there's an >> Yeah. And there's like there there's an an anti-fame thing to it. And what I an anti-fame thing to it. And what I an anti-fame thing to it. And what I mean by that is imagine do you start mean by that is imagine do you start mean by that is imagine do you start from the bottom, you also do it stealth. from the bottom, you also do it stealth. from the bottom, you also do it stealth. It means you plus everybody in your It means you plus everybody in your It means you plus everybody in your company gets fulfillment from the work company gets fulfillment from the work company gets fulfillment from the work they do every day. Not because they're they do every day. Not because they're they do every day. Not because they're going to get famous. going to get famous. going to get famous. >> Yeah. >> Yeah. >> Yeah. >> But because they enjoy the people >> But because they enjoy the people >> But because they enjoy the people they're working with and what they're they're working with and what they're they're working with and what they're doing day in day out. By the way, if you doing day in day out. By the way, if you doing day in day out. By the way, if you can pull it off, can pull it off, can pull it off, that's a very significant cultural that's a very significant cultural that's a very significant cultural advantage because advantage because advantage because as soon as the company feels like it's as soon as the company feels like it's as soon as the company feels like it's doing something for the outside status, doing something for the outside status, doing something for the outside status, it's a dangerous it's a dangerous it's a dangerous >> Yeah. >> Yeah. >> Yeah. >> It's a volatile [ __ ] situation. >> It's a volatile [ __ ] situation. >> It's a volatile [ __ ] situation. >> That's right. You start making decisions >> That's right. You start making decisions >> That's right. You start making decisions based on external validation versus based on external validation versus based on external validation versus internal correctness. internal correctness. internal correctness. >> Yeah. You lose true north. >> Yeah. You lose true north. >> Yeah. You lose true north. >> Yeah. And that's part of the upside of >> Yeah. And that's part of the upside of >> Yeah. And that's part of the upside of stealth and part of what I was doing stealth and part of what I was doing stealth and part of what I was doing because remember I wanted to build because remember I wanted to build because remember I wanted to build without worrying what about what the New without worrying what about what the New without worrying what about what the New York Times was saying. York Times was saying. York Times was saying. >> Yeah. >> Yeah. >> Yeah. >> So it starts with internal correctness >> So it starts with internal correctness >> So it starts with internal correctness versus external validation. Yeah. versus external validation. Yeah. versus external validation. Yeah. >> Which >> Which >> Which once once the company starts doing that once once the company starts doing that once once the company starts doing that it's hard to like you you you already it's hard to like you you you already it's hard to like you you you already see this see this see this with the big labs. People keep going oh with the big labs. People keep going oh with the big labs. People keep going oh why why do the big labs you know smack why why do the big labs you know smack why why do the big labs you know smack themselves in the face? themselves in the face? themselves in the face? Well, it's because they need that Well, it's because they need that Well, it's because they need that external validation for their employees external validation for their employees external validation for their employees because their employees are addicted to because their employees are addicted to because their employees are addicted to it. I want to be a good guy. I want to it. I want to be a good guy. I want to it. I want to be a good guy. I want to be a good AI researcher. So, go ahead be a good AI researcher. So, go ahead be a good AI researcher. So, go ahead and tell them that we're going to take and tell them that we're going to take and tell them that we're going to take all the jobs. It's like, really? all the jobs. It's like, really? all the jobs. It's like, really? [laughter] You want to say that? You [laughter] You want to say that? You [laughter] You want to say that? You don't even know if it's true, but you don't even know if it's true, but you don't even know if it's true, but you want to say that. Well, why are you want to say that. Well, why are you want to say that. Well, why are you doing that? Well, it's that external doing that? Well, it's that external doing that? Well, it's that external validation is is so important to them, validation is is so important to them, validation is is so important to them, and it's so important not to just to the and it's so important not to just to the and it's so important not to just to the not just to the people running it, but not just to the people running it, but not just to the people running it, but to all the people in the company. And to all the people in the company. And to all the people in the company. And so, they almost have to do it. Um even so, they almost have to do it. Um even so, they almost have to do it. Um even though though though they if you wanted if that's what you they if you wanted if that's what you they if you wanted if that's what you think think think then work on like those problems work on then work on like those problems work on then work on like those problems work on like oh you don't want it to reward hack like oh you don't want it to reward hack like oh you don't want it to reward hack well why don't you try and solve that as well why don't you try and solve that as well why don't you try and solve that as opposed to go running your mouth because opposed to go running your mouth because opposed to go running your mouth because you care about the external validation you care about the external validation you care about the external validation more than the actual thing more than the actual thing more than the actual thing >> and that's the >> and that's the >> and that's the >> yeah it's it's very easy to slip into >> yeah it's it's very easy to slip into >> yeah it's it's very easy to slip into that like many companies slip into that that like many companies slip into that that like many companies slip into that and it's uh and it's uh and it's uh >> and here's the thing >> and here's the thing >> and here's the thing >> it's hard to once it gets out of the bag >> it's hard to once it gets out of the bag >> it's hard to once it gets out of the bag it's very There's a human nature aspect it's very There's a human nature aspect it's very There's a human nature aspect to being proud of what you do, wanting to being proud of what you do, wanting to being proud of what you do, wanting your mom to be proud of what you do and your mom to be proud of what you do and your mom to be proud of what you do and your community at large. your community at large. your community at large. >> Yeah. >> Yeah. >> Yeah. >> So there is a human nature piece which I >> So there is a human nature piece which I >> So there is a human nature piece which I was malnourishing by being stealth. was malnourishing by being stealth. was malnourishing by being stealth. >> Yeah. >> Yeah. >> Yeah. >> But it forced a emotional intelligence >> But it forced a emotional intelligence >> But it forced a emotional intelligence that's very powerful now that we're that's very powerful now that we're that's very powerful now that we're moving out of stealth. moving out of stealth. moving out of stealth. >> Yeah. >> Yeah. >> Yeah. >> And it's it will be interesting to see >> And it's it will be interesting to see >> And it's it will be interesting to see how the coming years go. how the coming years go. how the coming years go. >> Yeah. I'm that that's a going to be a >> Yeah. I'm that that's a going to be a >> Yeah. I'm that that's a going to be a very interesting cultural case study. very interesting cultural case study. very interesting cultural case study. See what the company is like over time. See what the company is like over time. See what the company is like over time. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> So, we've talked about, you know, what >> So, we've talked about, you know, what >> So, we've talked about, you know, what books were to Amazon, you know, food is books were to Amazon, you know, food is books were to Amazon, you know, food is to Adams in the sense of it's where you to Adams in the sense of it's where you to Adams in the sense of it's where you start and where you start matters. So, start and where you start matters. So, start and where you start matters. So, why was it important that you started at why was it important that you started at why was it important that you started at food in terms of what's generalizable? food in terms of what's generalizable? food in terms of what's generalizable? What's like Yeah. Same way. What's like Yeah. Same way. What's like Yeah. Same way. >> So, here's the thing, right? So what >> So, here's the thing, right? So what >> So, here's the thing, right? So what cloud kitchens was cloud kitchens was cloud kitchens was uh was all about the way I saw it and uh was all about the way I saw it and uh was all about the way I saw it and this was what I brought to the party but this was what I brought to the party but this was what I brought to the party but it was like this is digitized it was like this is digitized it was like this is digitized manufacturing and digitized real estate. manufacturing and digitized real estate. manufacturing and digitized real estate. It was called we I called it when I came It was called we I called it when I came It was called we I called it when I came people know as cloud kitchens because people know as cloud kitchens because people know as cloud kitchens because that's what we'd sell restaurant that's what we'd sell restaurant that's what we'd sell restaurant customers on but it the name of the customers on but it the name of the customers on but it the name of the company was city storage systems. Ah company was city storage systems. Ah company was city storage systems. Ah okay storage for the physical world. okay storage for the physical world. okay storage for the physical world. This is digitized real estate. Yeah, This is digitized real estate. Yeah, This is digitized real estate. Yeah, >> this is a food computer with a basis in >> this is a food computer with a basis in >> this is a food computer with a basis in real estate storage. real estate storage. real estate storage. >> Okay, >> Okay, >> Okay, >> that means a network. >> that means a network. >> that means a network. >> Yeah. >> Yeah. >> Yeah. >> So, this was the name of the company >> So, this was the name of the company >> So, this was the name of the company from the beginning. from the beginning. from the beginning. >> Yeah. >> Yeah. >> Yeah. >> Or once I came in. Okay. It was >> Or once I came in. Okay. It was >> Or once I came in. Okay. It was purposely boring because I was going purposely boring because I was going purposely boring because I was going stealth. You imagine selling something stealth. You imagine selling something stealth. You imagine selling something called City Storage Systems. Like people called City Storage Systems. Like people called City Storage Systems. Like people are like, "What is that?" They'll forget are like, "What is that?" They'll forget are like, "What is that?" They'll forget literally 20 minutes after you talk to literally 20 minutes after you talk to literally 20 minutes after you talk to them. They're like, "City them. They're like, "City them. They're like, "City CSS." they're like thinking HTML. CSS." they're like thinking HTML. CSS." they're like thinking HTML. They're like they're confused. They They're like they're confused. They They're like they're confused. They don't know what's going on. So, um, so don't know what's going on. So, um, so don't know what's going on. So, um, so for me it the framework was already for me it the framework was already for me it the framework was already there. I already thought about this as there. I already thought about this as there. I already thought about this as digitized manufacturing and real estate digitized manufacturing and real estate digitized manufacturing and real estate about an atomsbased computer about a about an atomsbased computer about a about an atomsbased computer about a food computer and that's why I was food computer and that's why I was food computer and that's why I was excited. The idea captured me because of excited. The idea captured me because of excited. The idea captured me because of that. And so it wasn't like why' you that. And so it wasn't like why' you that. And so it wasn't like why' you start with food? It was like I saw start with food? It was like I saw start with food? It was like I saw something different than even maybe the something different than even maybe the something different than even maybe the the the the the the the original team that was working on it saw original team that was working on it saw original team that was working on it saw it, but I saw where it was going. And in it, but I saw where it was going. And in it, but I saw where it was going. And in in the way that I just described, and in the way that I just described, and in the way that I just described, and that's what the romance was about. And that's what the romance was about. And that's what the romance was about. And yes, there are lots of digitized yes, there are lots of digitized yes, there are lots of digitized manufacturing problems out there. manufacturing problems out there. manufacturing problems out there. >> Yeah. Like mining, >> Yeah. Like mining, >> Yeah. Like mining, >> like mining, like a whole bunch of other >> like mining, like a whole bunch of other >> like mining, like a whole bunch of other things. Um, but this is just captured me things. Um, but this is just captured me things. Um, but this is just captured me at the right time. You know, I was at the right time. You know, I was at the right time. You know, I was sitting at the bar and somebody came up sitting at the bar and somebody came up sitting at the bar and somebody came up and we had a great conversation. You and we had a great conversation. You and we had a great conversation. You know, went to Cabo the next weekend and know, went to Cabo the next weekend and know, went to Cabo the next weekend and then just put a ring on it like let's then just put a ring on it like let's then just put a ring on it like let's go. go. go. >> Serendipity, man. Yeah, >> Serendipity, man. Yeah, >> Serendipity, man. Yeah, >> that's a real thing. So, and that's okay >> that's a real thing. So, and that's okay >> that's a real thing. So, and that's okay because the thing is if you believe that because the thing is if you believe that because the thing is if you believe that you can like find something, make it you can like find something, make it you can like find something, make it work, work, work, just grind it out, make it work, will it just grind it out, make it work, will it just grind it out, make it work, will it into working. Your imagination can keep into working. Your imagination can keep into working. Your imagination can keep going. So, for me, it wasn't it's not as going. So, for me, it wasn't it's not as going. So, for me, it wasn't it's not as much about where you start. It's about much about where you start. It's about much about where you start. It's about making sure you're passionate about making sure you're passionate about making sure you're passionate about where you start. And then where you go, where you start. And then where you go, where you start. And then where you go, you have no idea. And this is very much, you have no idea. And this is very much, you have no idea. And this is very much, I go back to the Bezos style, which is I go back to the Bezos style, which is I go back to the Bezos style, which is like your imagination will just keep like your imagination will just keep like your imagination will just keep coming up with new cool ideas. coming up with new cool ideas. coming up with new cool ideas. >> And so it's not about where you start. >> And so it's not about where you start. >> And so it's not about where you start. It's about why you start It's about why you start It's about why you start >> and how you build a culture that allows >> and how you build a culture that allows >> and how you build a culture that allows you to keep going into new places over you to keep going into new places over you to keep going into new places over time and lets your imagination when it's time and lets your imagination when it's time and lets your imagination when it's right flourish. right flourish. right flourish. >> Yeah, that's what I was. It's it's not >> Yeah, that's what I was. It's it's not >> Yeah, that's what I was. It's it's not an idea, it's an idea maze. And the more an idea, it's an idea maze. And the more an idea, it's an idea maze. And the more you learn about the idea and all the you learn about the idea and all the you learn about the idea and all the things and you you don't know any like things and you you don't know any like things and you you don't know any like the thing that the thing that the thing that is so hard to understand coming from the is so hard to understand coming from the is so hard to understand coming from the outside is you know so little when you outside is you know so little when you outside is you know so little when you start like when he I mean he didn't even start like when he I mean he didn't even start like when he I mean he didn't even tell me he started he he didn't know tell me he started he he didn't know tell me he started he he didn't know [ __ ] [ __ ] [ __ ] >> 1% of the [ __ ] problems he was going >> 1% of the [ __ ] problems he was going >> 1% of the [ __ ] problems he was going to run into with cloud kitchens. to run into with cloud kitchens. to run into with cloud kitchens. >> Yeah for sure >> Yeah for sure >> Yeah for sure >> because you've got to really [snorts] >> because you've got to really [snorts] >> because you've got to really [snorts] >> get into what tech guy knows anything >> get into what tech guy knows anything >> get into what tech guy knows anything about real estate. about real estate. about real estate. >> Yeah. >> Yeah. >> Yeah. >> 0.0. >> 0.0. >> 0.0. >> Yeah. So you you it's all the whole >> Yeah. So you you it's all the whole >> Yeah. So you you it's all the whole thing is a learning process and then thing is a learning process and then thing is a learning process and then it's the best entrepreneurs can take it's the best entrepreneurs can take it's the best entrepreneurs can take those learnings and then apply multiply those learnings and then apply multiply those learnings and then apply multiply the applications and that's the applications and that's the applications and that's you know it's just a very very rare you know it's just a very very rare you know it's just a very very rare thing uh like like look the fact that thing uh like like look the fact that thing uh like like look the fact that Elon has taken Elon has taken Elon has taken SpaceX to Starlink to data centers in SpaceX to Starlink to data centers in SpaceX to Starlink to data centers in space it's just like space it's just like space it's just like nobody would Start there nobody would Start there nobody would Start there >> or think about this. Uh >> or think about this. Uh >> or think about this. Uh >> the the first Roadster. >> the the first Roadster. >> the the first Roadster. >> Yeah. >> Yeah. >> Yeah. >> Is now Optimus. >> Is now Optimus. >> Is now Optimus. >> Yeah. >> Yeah. >> Yeah. >> Okay. Talk about >> Okay. Talk about >> Okay. Talk about >> Yes. Yes. >> Yes. Yes. >> Yes. Yes. >> Letting the imagination flourish is a >> Letting the imagination flourish is a >> Letting the imagination flourish is a beautiful thing. beautiful thing. beautiful thing. >> Yeah. Understanding what the core core >> Yeah. Understanding what the core core >> Yeah. Understanding what the core core principles are. principles are. principles are. >> Yeah. >> Yeah. >> Yeah. >> And applying them. >> And applying them. >> And applying them. So with that said, paint us more paint So with that said, paint us more paint So with that said, paint us more paint us a picture about the future of of us a picture about the future of of us a picture about the future of of atoms or more about the or maybe say atoms or more about the or maybe say atoms or more about the or maybe say some of the guiding principles that will some of the guiding principles that will some of the guiding principles that will dictate you know which industries you dictate you know which industries you dictate you know which industries you enter next or how you think about where enter next or how you think about where enter next or how you think about where you go from. you go from. you go from. >> Yeah, look um I tell people I'm very >> Yeah, look um I tell people I'm very >> Yeah, look um I tell people I'm very focused uh right now because it's it's focused uh right now because it's it's focused uh right now because it's it's only food, mining and transport. only food, mining and transport. only food, mining and transport. [laughter] [laughter] [laughter] >> There's so many things I haven't done >> There's so many things I haven't done >> There's so many things I haven't done yet. Like we're like I'm so constrained yet. Like we're like I'm so constrained yet. Like we're like I'm so constrained right now. Um, but it goes back to that right now. Um, but it goes back to that right now. Um, but it goes back to that thing I was saying before is you've got thing I was saying before is you've got thing I was saying before is you've got to find that beach head, make it to find that beach head, make it to find that beach head, make it flourish, flourish, flourish, build management capacity to solve 98% build management capacity to solve 98% build management capacity to solve 98% of the problems that are going on, of the problems that are going on, of the problems that are going on, and then you have the room to go do a and then you have the room to go do a and then you have the room to go do a new thing. And really what it is, it's, new thing. And really what it is, it's, new thing. And really what it is, it's, you know, I I'm I've been accused of you know, I I'm I've been accused of you know, I I'm I've been accused of using the marathon analogy too much. using the marathon analogy too much. using the marathon analogy too much. >> Yeah. and I'm gonna I'm gonna I'm gonna >> Yeah. and I'm gonna I'm gonna I'm gonna >> Yeah. and I'm gonna I'm gonna I'm gonna live up to that, which is, you know, uh live up to that, which is, you know, uh live up to that, which is, you know, uh at some point you might be doing a at some point you might be doing a at some point you might be doing a business and it just starts working. I I business and it just starts working. I I business and it just starts working. I I started seeing that on rides at Uber started seeing that on rides at Uber started seeing that on rides at Uber where it was like I had my leads in different geos and I'd I had my leads in different geos and I'd call them up because we would jam on call them up because we would jam on call them up because we would jam on hard ideas and crank and all this. We hard ideas and crank and all this. We hard ideas and crank and all this. We didn't have much to talk about. didn't have much to talk about. didn't have much to talk about. >> Yeah. Cuz [ __ ] was working. >> Yeah. Cuz [ __ ] was working. >> Yeah. Cuz [ __ ] was working. >> It was just worked, you know, and >> It was just worked, you know, and >> It was just worked, you know, and they're like, "Travis, we got this. I they're like, "Travis, we got this. I they're like, "Travis, we got this. I don't know why you're calling me right don't know why you're calling me right don't know why you're calling me right now." now." now." >> [snorts] >> [snorts] >> [snorts] >> you know. >> you know. >> you know. >> So, actually this brings up one of the >> So, actually this brings up one of the >> So, actually this brings up one of the things that he did best at Uber um things that he did best at Uber um things that he did best at Uber um having had to deal with these guys was having had to deal with these guys was having had to deal with these guys was like if you look at most companies mo like if you look at most companies mo like if you look at most companies mo most of the um really the big tech most of the um really the big tech most of the um really the big tech companies that that emerged in the 2000 companies that that emerged in the 2000 companies that that emerged in the 2000 2000s and 10s 2000s and 10s 2000s and 10s the management team the management team the management team were kind of professional middle were kind of professional middle were kind of professional middle managers etc. He had so many guys who managers etc. He had so many guys who managers etc. He had so many guys who you would have gone no that's a founder you would have gone no that's a founder you would have gone no that's a founder you know that's a founder over there you know that's a founder over there you know that's a founder over there that's a founder over there that's a that's a founder over there that's a that's a founder over there that's a that's an actual entrepreneur and it's that's an actual entrepreneur and it's that's an actual entrepreneur and it's amazing that he's not building his own amazing that he's not building his own amazing that he's not building his own company because he's like working for company because he's like working for company because he's like working for Travis but that enabled them like to get Travis but that enabled them like to get Travis but that enabled them like to get to a multitude of ideas you need like a to a multitude of ideas you need like a to a multitude of ideas you need like a team like that team like that team like that >> uh and there's just not that many people >> uh and there's just not that many people >> uh and there's just not that many people who can build that kind of it's just a who can build that kind of it's just a who can build that kind of it's just a it's a very hard to attract and maintain it's a very hard to attract and maintain it's a very hard to attract and maintain that level of capability because those that level of capability because those that level of capability because those guys unless you're building something guys unless you're building something guys unless you're building something absolutely spectacular, absolutely spectacular, absolutely spectacular, you know, they're not going to be and you know, they're not going to be and you know, they're not going to be and even if you are, even if you are, even if you are, you're dealing with you got to be able you're dealing with you got to be able you're dealing with you got to be able to manage that. to manage that. to manage that. >> Well, what what happens is the >> Well, what what happens is the >> Well, what what happens is the management of it becomes an empowerment management of it becomes an empowerment management of it becomes an empowerment puzzle. puzzle. puzzle. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> So, >> So, >> So, >> yes. >> yes. >> yes. >> Okay. >> Okay. >> Okay. >> By the way, not unlike here, by the way, >> By the way, not unlike here, by the way, >> By the way, not unlike here, by the way, >> I was about to say, so you've got you've >> I was about to say, so you've got you've >> I was about to say, so you've got you've got I've got, you know, Yeah. I'm got I've got, you know, Yeah. I'm got I've got, you know, Yeah. I'm running Uber. Let's say running Uber. Let's say running Uber. Let's say I have I have I have I don't know five continents going at I don't know five continents going at I don't know five continents going at any given time. You have an engineering any given time. You have an engineering any given time. You have an engineering team that's multipplexed across a team that's multipplexed across a team that's multipplexed across a finance team that's multipplexed across finance team that's multipplexed across finance team that's multipplexed across a product. Like there's a lot going on a product. Like there's a lot going on a product. Like there's a lot going on and the only way it works is okay you and the only way it works is okay you and the only way it works is okay you have that entrepreneur there but they have that entrepreneur there but they have that entrepreneur there but they have to have to have to basically empowerment starts with basically empowerment starts with basically empowerment starts with alignment which is okay what's the alignment which is okay what's the alignment which is okay what's the strategy do are we aligned on it strategy do are we aligned on it strategy do are we aligned on it >> that's the challenge right empowerment >> that's the challenge right empowerment >> that's the challenge right empowerment plus alignment plus alignment plus alignment >> so alignment on the front end >> so alignment on the front end >> so alignment on the front end accountability on the back end accountability on the back end accountability on the back end >> and we would call this let builders >> and we would call this let builders >> and we would call this let builders build build build >> and so but way there's is also >> and so but way there's is also >> and so but way there's is also so you've got alignment but alignment is so you've got alignment but alignment is so you've got alignment but alignment is multi-dimensional because it's alignment multi-dimensional because it's alignment multi-dimensional because it's alignment on okay what are the goals what are the on okay what are the goals what are the on okay what are the goals what are the objectives also what is the culture objectives also what is the culture objectives also what is the culture >> like yeah what is the behavior >> like yeah what is the behavior >> like yeah what is the behavior >> you guys are doing over there because >> you guys are doing over there because >> you guys are doing over there because that's going to affect us over here and that's going to affect us over here and that's going to affect us over here and us over there and so forth so like we us over there and so forth so like we us over there and so forth so like we can't dilute the culture because we gave can't dilute the culture because we gave can't dilute the culture because we gave you autonomy we've got to have that and you autonomy we've got to have that and you autonomy we've got to have that and that that that combination is uh it's that that that combination is uh it's that that that combination is uh it's like a very high level of management like a very high level of management like a very high level of management skill skill skill >> and that leader has to be good enough to >> and that leader has to be good enough to >> and that leader has to be good enough to do it. do it. do it. >> Yeah. >> Yeah. >> Yeah. >> And that leader then has to work with >> And that leader then has to work with >> And that leader then has to work with the CFO and the CFO's people, the the CFO and the CFO's people, the the CFO and the CFO's people, the product, the head of product and the product, the head of product and the product, the head of product and the product guys people product guys people product guys people engineering and engineering people to engineering and engineering people to engineering and engineering people to make sure that it works because if I'm a make sure that it works because if I'm a make sure that it works because if I'm a single point of failure, it ain't single point of failure, it ain't single point of failure, it ain't scaling on 24 time zones. scaling on 24 time zones. scaling on 24 time zones. >> There's no freaking way. And I think >> There's no freaking way. And I think >> There's no freaking way. And I think that's the difference between what we that's the difference between what we that's the difference between what we did at Uber versus we're seeing how a did at Uber versus we're seeing how a did at Uber versus we're seeing how a lot of other companies are expanding lot of other companies are expanding lot of other companies are expanding internationally. They're buying things. internationally. They're buying things. internationally. They're buying things. >> Like I was like, well, I buy. We could >> Like I was like, well, I buy. We could >> Like I was like, well, I buy. We could just freaking do this. A city's a city. just freaking do this. A city's a city. just freaking do this. A city's a city. Let's go. Let's go. Let's go. >> And then if you buy it, >> And then if you buy it, >> And then if you buy it, >> guess what? You brought another culture. >> guess what? You brought another culture. >> guess what? You brought another culture. >> Yeah. >> Yeah. >> Yeah. >> Okay. And now you got another >> Okay. And now you got another >> Okay. And now you got another reputation. And then that reputation is reputation. And then that reputation is reputation. And then that reputation is going to seep back. And then, okay, now going to seep back. And then, okay, now going to seep back. And then, okay, now you don't have a culture. And by the you don't have a culture. And by the you don't have a culture. And by the way, way, way, >> because how are those [ __ ] >> because how are those [ __ ] >> because how are those [ __ ] getting away with that in Korea when we getting away with that in Korea when we getting away with that in Korea when we can't get away with that in the US? Like can't get away with that in the US? Like can't get away with that in the US? Like all those things. all those things. all those things. >> And by the way, your product, your >> And by the way, your product, your >> And by the way, your product, your technology is a reflection of your technology is a reflection of your technology is a reflection of your culture. So then what happens is you culture. So then what happens is you culture. So then what happens is you just have the culture is reflected in just have the culture is reflected in just have the culture is reflected in the technology and in how even that the technology and in how even that the technology and in how even that techn is built. The product decisions techn is built. The product decisions techn is built. The product decisions that are made and now you got to fuse that are made and now you got to fuse that are made and now you got to fuse these products and technologies these products and technologies these products and technologies together, which is very hard. Two years together, which is very hard. Two years together, which is very hard. Two years later, maybe. later, maybe. later, maybe. >> Yeah. Exactly. >> Yeah. Exactly. >> Yeah. Exactly. That's why I didn't buy Lyft. [laughter] That's why I didn't buy Lyft. [laughter] That's why I didn't buy Lyft. [laughter] >> By the way, that was a very that was a >> By the way, that was a very that was a >> By the way, that was a very that was a very different culture. [laughter] very different culture. [laughter] very different culture. [laughter] >> Yeah, I can attest. >> Yeah, I can attest. >> Yeah, I can attest. >> I this so this was the reason I I >> I this so this was the reason I I >> I this so this was the reason I I couldn't do it. couldn't do it. couldn't do it. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. Super interesting. >> Yeah. Super interesting. >> Yeah. Super interesting. >> The And so you're constrained now by by >> The And so you're constrained now by by >> The And so you're constrained now by by three different industries. What is the three different industries. What is the three different industries. What is the You You You >> keep taking off script. >> keep taking off script. >> keep taking off script. >> No. No. What is the criteria that's >> No. No. What is the criteria that's >> No. No. What is the criteria that's going to determine um if and when you go going to determine um if and when you go going to determine um if and when you go into another? into another? into another? >> Yeah, it's the beach head thing and it's >> Yeah, it's the beach head thing and it's >> Yeah, it's the beach head thing and it's the it's the the it's the the it's the I'll go back to the marathon analogy is I'll go back to the marathon analogy is I'll go back to the marathon analogy is that if it's getting easy, you must make that if it's getting easy, you must make that if it's getting easy, you must make it hard again it hard again it hard again >> because >> because >> because >> but you got to get it to easy. >> but you got to get it to easy. >> but you got to get it to easy. >> You got to you've got to start. It's a >> You got to you've got to start. It's a >> You got to you've got to start. It's a and it's a vibe. It's like a It's like a and it's a vibe. It's like a It's like a and it's a vibe. It's like a It's like a It's like a feeling where It's like a feeling where It's like a feeling where you basically I'm constantly you basically I'm constantly you basically I'm constantly creating problems. creating problems. creating problems. >> Yeah. >> Yeah. >> Yeah. >> I'm a problem creator. A problem creator >> I'm a problem creator. A problem creator >> I'm a problem creator. A problem creator might be like a like creating a problem might be like a like creating a problem might be like a like creating a problem might be like, "Hey, let's do Uber in might be like, "Hey, let's do Uber in might be like, "Hey, let's do Uber in China." [laughter] China." [laughter] China." [laughter] >> Okay, that's creating a real freaking >> Okay, that's creating a real freaking >> Okay, that's creating a real freaking problem. problem. problem. >> And by the way, you don't have a full >> And by the way, you don't have a full >> And by the way, you don't have a full understanding of that problem when you understanding of that problem when you understanding of that problem when you create it. And why is that hard? create it. And why is that hard? create it. And why is that hard? Because, Because, Because, >> well, if you create a problem, you have >> well, if you create a problem, you have >> well, if you create a problem, you have to solve it. to solve it. to solve it. >> Yeah. So I have this like framework I >> Yeah. So I have this like framework I >> Yeah. So I have this like framework I call the meta problem which is the call the meta problem which is the call the meta problem which is the derivative of your problem derivative of your problem derivative of your problem creation creation creation dt dt dt must be less than the derivative less must be less than the derivative less must be less than the derivative less than or equal to the derivative of your than or equal to the derivative of your than or equal to the derivative of your problem solving dt. problem solving dt. problem solving dt. >> And if it's not >> And if it's not >> And if it's not >> you have a real [ __ ] problem. >> you have a real [ __ ] problem. >> you have a real [ __ ] problem. >> Yeah. Well then then then >> Yeah. Well then then then >> Yeah. Well then then then >> you're underwater. >> you're underwater. >> you're underwater. >> Yeah. then you're underwater and then >> Yeah. then you're underwater and then >> Yeah. then you're underwater and then you can you can drown and if you have you can you can drown and if you have you can you can drown and if you have yeah if you have multiples of those yeah if you have multiples of those yeah if you have multiples of those you're really underwater. you're really underwater. you're really underwater. >> That's right. So when you make when you >> That's right. So when you make when you >> That's right. So when you make when you create a problem you're guessing at what create a problem you're guessing at what create a problem you're guessing at what your capacity is to solve problems and your capacity is to solve problems and your capacity is to solve problems and you're guessing 6 months 12 18 months you're guessing 6 months 12 18 months you're guessing 6 months 12 18 months ahead with only a certain understanding ahead with only a certain understanding ahead with only a certain understanding of what the nature of the problem is. of what the nature of the problem is. of what the nature of the problem is. And when you get it really wrong you're And when you get it really wrong you're And when you get it really wrong you're underwater and then you must stop all underwater and then you must stop all underwater and then you must stop all problem creation problem creation problem creation so that you can get back above water. so that you can get back above water. so that you can get back above water. And then when you go from your neck and And then when you go from your neck and And then when you go from your neck and then you're like at your waist in terms then you're like at your waist in terms then you're like at your waist in terms of how underwater you are with your of how underwater you are with your of how underwater you are with your problem solving. When you're at your problem solving. When you're at your problem solving. When you're at your waist, you're like, "Oh, I could get I waist, you're like, "Oh, I could get I waist, you're like, "Oh, I could get I could get to here." could get to here." could get to here." >> You create more problems. You let the >> You create more problems. You let the >> You create more problems. You let the problem creation spot open. And by the problem creation spot open. And by the problem creation spot open. And by the way, when you talk about capacity, um, a way, when you talk about capacity, um, a way, when you talk about capacity, um, a lot of it in this case is he's talking lot of it in this case is he's talking lot of it in this case is he's talking about his personal capacity because he's about his personal capacity because he's about his personal capacity because he's got to be able if he's creating a new got to be able if he's creating a new got to be able if he's creating a new large problem, large problem, large problem, he's got to be able to not pay attention he's got to be able to not pay attention he's got to be able to not pay attention in nearly the level of detail to the in nearly the level of detail to the in nearly the level of detail to the other parts of his business. does have other parts of his business. does have other parts of his business. does have to be working because if he's solving to be working because if he's solving to be working because if he's solving problems over there and created a big problems over there and created a big problems over there and created a big new problem then that one gets in new problem then that one gets in new problem then that one gets in trouble like then trouble like then trouble like then so it's not just like capacity of the so it's not just like capacity of the so it's not just like capacity of the team it's also personal capacity team it's also personal capacity team it's also personal capacity >> and that >> and that >> and that >> it's a little bit of both it's a little >> it's a little bit of both it's a little >> it's a little bit of both it's a little bit of both and bit of both and bit of both and >> so it's a real >> so it's a real >> so it's a real >> I never felt like >> I never felt like >> I never felt like >> I never felt like rid share was solved >> I never felt like rid share was solved >> I never felt like rid share was solved because what happened oh it's time for because what happened oh it's time for because what happened oh it's time for autonomy autonomy autonomy >> okay all right let's go >> okay all right let's go >> okay all right let's go >> by the way you were right about that >> by the way you were right about that >> by the way you were right about that Yeah. Yeah. Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Just despite uh >> Just despite uh >> Just despite uh >> Yeah. >> Yeah. >> Yeah. >> I'm not going to even mention names. >> I'm not going to even mention names. >> I'm not going to even mention names. >> And so if you if you had still been >> And so if you if you had still been >> And so if you if you had still been running Uber um you know in this other running Uber um you know in this other running Uber um you know in this other universe or some of the vision that you universe or some of the vision that you universe or some of the vision that you have here with Adams, would that have have here with Adams, would that have have here with Adams, would that have been you know could you have gone to been you know could you have gone to been you know could you have gone to mining with Uber? Like mining with Uber? Like mining with Uber? Like >> it's a continuation of the same vision. >> it's a continuation of the same vision. >> it's a continuation of the same vision. Yeah. Yeah. Yeah. >> Right. So the digitizing the physical >> Right. So the digitizing the physical >> Right. So the digitizing the physical world the atomsbased computation that world the atomsbased computation that world the atomsbased computation that was already set. was already set. was already set. >> Yeah. >> Yeah. >> Yeah. And so if the future of food is about uh uh infrastructure, infrastructure, infrastructure, automated production, automated automated production, automated automated production, automated logistics, logistics, logistics, that's the future of Uber Eats, too. that's the future of Uber Eats, too. that's the future of Uber Eats, too. Now, it doesn't mean when you're an OEM Now, it doesn't mean when you're an OEM Now, it doesn't mean when you're an OEM and you make a food computer, it doesn't and you make a food computer, it doesn't and you make a food computer, it doesn't mean you have to make all the parts, mean you have to make all the parts, mean you have to make all the parts, right? And so but but it but the future right? And so but but it but the future right? And so but but it but the future is the same. is the same. is the same. >> Yeah. >> Yeah. >> Yeah. >> And so um so that's my point is that is >> And so um so that's my point is that is >> And so um so that's my point is that is that once you have that framework why is that once you have that framework why is that once you have that framework why is the framework important? It's because it the framework important? It's because it the framework important? It's because it tells you what the future's going to be. tells you what the future's going to be. tells you what the future's going to be. >> Yeah. >> Yeah. >> Yeah. >> It's correct and it also it's also >> It's correct and it also it's also >> It's correct and it also it's also compelling. Like it's interesting once compelling. Like it's interesting once compelling. Like it's interesting once you start seeing things like by the way you start seeing things like by the way you start seeing things like by the way I built with my team like 500 I built with my team like 500 I built with my team like 500 cloud kitchens facilities around the cloud kitchens facilities around the cloud kitchens facilities around the world. world. world. Like you could just look at it as like Like you could just look at it as like Like you could just look at it as like why are you building kitchens which of why are you building kitchens which of why are you building kitchens which of course I would I sort of would go around course I would I sort of would go around course I would I sort of would go around all the time and tell people I'm just all the time and tell people I'm just all the time and tell people I'm just your local humble k uh I'm just your your local humble k uh I'm just your your local humble k uh I'm just your local humble kitchen builder you know local humble kitchen builder you know local humble kitchen builder you know just sort of messing around. just sort of messing around. just sort of messing around. >> But like when you're hiring it's like >> But like when you're hiring it's like >> But like when you're hiring it's like why does this matter? why does this matter? why does this matter? >> Yeah. Oh, that's right. It's a food >> Yeah. Oh, that's right. It's a food >> Yeah. Oh, that's right. It's a food computer. Yeah. But once So, it's a mix computer. Yeah. But once So, it's a mix computer. Yeah. But once So, it's a mix of it's telling you where the future's of it's telling you where the future's of it's telling you where the future's going and it's pointing the way towards going and it's pointing the way towards going and it's pointing the way towards where the interesting things are and where the interesting things are and where the interesting things are and it's helping you describe this in a way it's helping you describe this in a way it's helping you describe this in a way to really top quality talent who now can to really top quality talent who now can to really top quality talent who now can see what you see and can get excited see what you see and can get excited see what you see and can get excited about it. about it. about it. >> Yeah. >> Yeah. >> Yeah. >> Yeah. And and there are there's another >> Yeah. And and there are there's another >> Yeah. And and there are there's another kind of interesting thing which uh we kind of interesting thing which uh we kind of interesting thing which uh we went through when we were understanding went through when we were understanding went through when we were understanding the business which is unlike in a the business which is unlike in a the business which is unlike in a computer where you have storage and that computer where you have storage and that computer where you have storage and that storage kind of becomes obsolete over storage kind of becomes obsolete over storage kind of becomes obsolete over time in the physical storage world in time in the physical storage world in time in the physical storage world in real estate if you have the computer uh real estate if you have the computer uh real estate if you have the computer uh optimizing the storage the storage optimizing the storage the storage optimizing the storage the storage becomes more valuable. So you build the becomes more valuable. So you build the becomes more valuable. So you build the food computer and the storage is food computer and the storage is food computer and the storage is essential to deliver the end service, essential to deliver the end service, essential to deliver the end service, you know, particularly before there's you know, particularly before there's you know, particularly before there's OEMs and everybody knows there's a food OEMs and everybody knows there's a food OEMs and everybody knows there's a food computer available, but that food computer available, but that food computer available, but that food computer multiplies the value of the computer multiplies the value of the computer multiplies the value of the real estate. So it's it's weird. Imagine real estate. So it's it's weird. Imagine real estate. So it's it's weird. Imagine a computer that multiplied the value of a computer that multiplied the value of a computer that multiplied the value of its storage. Uh I I guess it's a little its storage. Uh I I guess it's a little its storage. Uh I I guess it's a little like in AI, like if you've got data, all like in AI, like if you've got data, all like in AI, like if you've got data, all of a sudden data be has become valuable. of a sudden data be has become valuable. of a sudden data be has become valuable. Yeah. Yeah. Yeah. >> Uh in a way that it >> Uh in a way that it >> Uh in a way that it >> wasn't really before. >> wasn't really before. >> wasn't really before. >> Yeah. >> Yeah. >> Yeah. >> Well, or you think of it this way. We >> Well, or you think of it this way. We >> Well, or you think of it this way. We could go to a data center. That's real could go to a data center. That's real could go to a data center. That's real estate. Yeah, right. estate. Yeah, right. estate. Yeah, right. >> How much h how many how many tops are >> How much h how many how many tops are >> How much h how many how many tops are now happening at a data center today now happening at a data center today now happening at a data center today versus 20 years ago? versus 20 years ago? versus 20 years ago? >> Yeah. Exactly. Yeah. >> Yeah. Exactly. Yeah. >> Yeah. Exactly. Yeah. >> So, and how much value is coming out of >> So, and how much value is coming out of >> So, and how much value is coming out of those tops, right? those tops, right? those tops, right? >> So, the value of a data center in terms >> So, the value of a data center in terms >> So, the value of a data center in terms of what it provides society is going up of what it provides society is going up of what it provides society is going up >> over time dramatically. >> over time dramatically. >> over time dramatically. >> And there's a lot of happy data center >> And there's a lot of happy data center >> And there's a lot of happy data center owners right now because of it. owners right now because of it. owners right now because of it. >> No doubt. Yeah. No doubt. my friend Rob >> No doubt. Yeah. No doubt. my friend Rob >> No doubt. Yeah. No doubt. my friend Rob Roy. Roy. Roy. >> Yeah, shout out to Rob. >> Yeah, shout out to Rob. >> Yeah, shout out to Rob. >> Yeah, we'll get him on soon. So, >> Yeah, we'll get him on soon. So, >> Yeah, we'll get him on soon. So, speaking of, you know, painting this speaking of, you know, painting this speaking of, you know, painting this vision to talent and just talking about vision to talent and just talking about vision to talent and just talking about where the future is going, talk more where the future is going, talk more where the future is going, talk more about the emerging category that Adams about the emerging category that Adams about the emerging category that Adams sits within you're calling industrial sits within you're calling industrial sits within you're calling industrial AI. AI. AI. >> Yeah. So, look, I I did a a vision >> Yeah. So, look, I I did a a vision >> Yeah. So, look, I I did a a vision letter when we launched Adams that letter when we launched Adams that letter when we launched Adams that outlined sort of vision for like outlined sort of vision for like outlined sort of vision for like physical AI, where we sit in it. um and physical AI, where we sit in it. um and physical AI, where we sit in it. um and even went into like what a physical AI even went into like what a physical AI even went into like what a physical AI stack is and it's really in some ways I stack is and it's really in some ways I stack is and it's really in some ways I it was like it was philosophy about it was like it was philosophy about it was like it was philosophy about where the technology world in the in in where the technology world in the in in where the technology world in the in in the the the tech industry in the the the the tech industry in the the the the tech industry in the physical world where it's going to go. physical world where it's going to go. physical world where it's going to go. But what I didn't do was get to the But what I didn't do was get to the But what I didn't do was get to the brass tax and sort of when you look at brass tax and sort of when you look at brass tax and sort of when you look at okay well there's software there's bits okay well there's software there's bits okay well there's software there's bits that are affecting that are affecting that are affecting how atoms how atoms how atoms what happens to atoms like how they're what happens to atoms like how they're what happens to atoms like how they're assembled where they go what function do assembled where they go what function do assembled where they go what function do they do in the physical world um we they do in the physical world um we they do in the physical world um we basically we started I'm all over the basically we started I'm all over the basically we started I'm all over the place right now cut edit place right now cut edit place right now cut edit But um we wanted to create we wanted to create we wanted to create we wanted to create an easy way to understand what it means. an easy way to understand what it means. an easy way to understand what it means. And I would I said okay Adam's mission And I would I said okay Adam's mission And I would I said okay Adam's mission physical automation to transform physical automation to transform physical automation to transform industries. You're like okay okay kind industries. You're like okay okay kind industries. You're like okay okay kind of gets me there but what does that mean of gets me there but what does that mean of gets me there but what does that mean exactly? Well, it means we take entire exactly? Well, it means we take entire exactly? Well, it means we take entire industries and that are ripe for industries and that are ripe for industries and that are ripe for automation and AI and in doing so that automation and AI and in doing so that automation and AI and in doing so that these are physical industries and in these are physical industries and in these are physical industries and in doing so just completely transforms them doing so just completely transforms them doing so just completely transforms them >> in a sense you've had one idea >> in a sense you've had one idea >> in a sense you've had one idea like the Uber and Adams Adams is the like the Uber and Adams Adams is the like the Uber and Adams Adams is the evolution of Uber in a sense in that evolution of Uber in a sense in that evolution of Uber in a sense in that >> you kind of said okay we're the Cisco of >> you kind of said okay we're the Cisco of >> you kind of said okay we're the Cisco of the physical world. Um, and then you're the physical world. Um, and then you're the physical world. Um, and then you're like, well, what about the other parts like, well, what about the other parts like, well, what about the other parts of the physical world? of the physical world? of the physical world? >> And you built >> And you built >> And you built >> that that you extended that vision into >> that that you extended that vision into >> that that you extended that vision into the computer and the computer and the computer and >> now you're adding the parts. Um, >> now you're adding the parts. Um, >> now you're adding the parts. Um, >> but the computer is around an industry. >> but the computer is around an industry. >> but the computer is around an industry. >> Yes. >> Yes. >> Yes. >> So, we make computers for industries. >> So, we make computers for industries. >> So, we make computers for industries. >> Yeah. >> Yeah. >> Yeah. >> Those computers are >> Those computers are >> Those computers are >> right. That's a that's an important kind >> right. That's a that's an important kind >> right. That's a that's an important kind of distinction. They're industry of distinction. They're industry of distinction. They're industry specific computers, but generalized specific computers, but generalized specific computers, but generalized networks in some sense. Yes. So you go, networks in some sense. Yes. So you go, networks in some sense. Yes. So you go, okay, why are we doing transport? Well, okay, why are we doing transport? Well, okay, why are we doing transport? Well, because you've got to have wheelbase for because you've got to have wheelbase for because you've got to have wheelbase for robots. robots. robots. >> Okay, cool. But like actually what it >> Okay, cool. But like actually what it >> Okay, cool. But like actually what it means is every industry is moving means is every industry is moving means is every industry is moving things. There's some movement of things things. There's some movement of things things. There's some movement of things eventually eventually eventually >> and you must have wheelbase as part of >> and you must have wheelbase as part of >> and you must have wheelbase as part of what they do if you want to automate what they do if you want to automate what they do if you want to automate full stack that industry full stack that industry full stack that industry >> as an example. But transport itself is >> as an example. But transport itself is >> as an example. But transport itself is an industry too. an industry too. an industry too. >> Yeah. But maybe a horizontal one versus >> Yeah. But maybe a horizontal one versus >> Yeah. But maybe a horizontal one versus a vertical, a vertical, a vertical, >> right? >> right? >> right? >> Yeah. >> Yeah. >> Yeah. >> Peter Teal a decade ago, you know, >> Peter Teal a decade ago, you know, >> Peter Teal a decade ago, you know, famously, you know, sort of talked about famously, you know, sort of talked about famously, you know, sort of talked about how we've had so much progress in bits, how we've had so much progress in bits, how we've had so much progress in bits, but not in atoms and because of but not in atoms and because of but not in atoms and because of regulation or for whatever reason, it regulation or for whatever reason, it regulation or for whatever reason, it was just easier in bits and Yeah. was just easier in bits and Yeah. was just easier in bits and Yeah. >> Here we are and we're finally >> Here we are and we're finally >> Here we are and we're finally >> Yeah. >> Yeah. >> Yeah. >> get into it in a real way. >> get into it in a real way. >> get into it in a real way. >> Well, and it's like I think the >> Well, and it's like I think the >> Well, and it's like I think the entrepreneurs that are coming up since entrepreneurs that are coming up since entrepreneurs that are coming up since the Uber time the Uber time the Uber time are not scared of regulation the way the are not scared of regulation the way the are not scared of regulation the way the bits bits bits >> Yeah. Well, that was a breakthrough in a >> Yeah. Well, that was a breakthrough in a >> Yeah. Well, that was a breakthrough in a large sense that you made. Yeah. large sense that you made. Yeah. large sense that you made. Yeah. >> Yeah. And so what it means >> Yeah. And so what it means >> Yeah. And so what it means >> Well, then they've been trying to >> Well, then they've been trying to >> Well, then they've been trying to regulate bits lately. [laughter] regulate bits lately. [laughter] regulate bits lately. [laughter] >> Yeah. Totally. >> Yeah. Totally. >> Yeah. Totally. >> But these go together because it's like >> But these go together because it's like >> But these go together because it's like once the bits start controlling atoms in once the bits start controlling atoms in once the bits start controlling atoms in the physical world, the physical world, the physical world, >> then the regulators are in the game big >> then the regulators are in the game big >> then the regulators are in the game big time. time. time. >> Yeah. >> Yeah. >> Yeah. >> And because that's generally how >> And because that's generally how >> And because that's generally how regulation works. It's about our regulation works. It's about our regulation works. It's about our physical world. And that's how it's been physical world. And that's how it's been physical world. And that's how it's been for thousands of years. Really, for thousands of years. Really, for thousands of years. Really, >> certainly hundreds. And so um >> certainly hundreds. And so um >> certainly hundreds. And so um yeah once you once you get in the yeah once you once you get in the yeah once you once you get in the physical world you're like okay physical world you're like okay physical world you're like okay regulatory is a thing and you you say regulatory is a thing and you you say regulatory is a thing and you you say okay when in the past have we seen okay when in the past have we seen okay when in the past have we seen something like this and it's like if you something like this and it's like if you something like this and it's like if you start studying the second industrial start studying the second industrial start studying the second industrial revolution revolution revolution there is so many parallels between what there is so many parallels between what there is so many parallels between what the Carnegies the Carnegies the Carnegies the the Rockefellers uh the Fricks like the the Rockefellers uh the Fricks like the the Rockefellers uh the Fricks like you just go through the list you just go through the list you just go through the list >> Fords >> Fords >> Fords >> the Fords what those guys had to deal >> the Fords what those guys had to deal >> the Fords what those guys had to deal with in that massive rapid change at with in that massive rapid change at with in that massive rapid change at that moment. that moment. that moment. >> Same very similar political climate. >> Same very similar political climate. >> Same very similar political climate. >> Yeah. >> Yeah. >> Yeah. >> That's right. The the >> That's right. The the >> That's right. The the >> the New Dealers >> the New Dealers >> the New Dealers were not that different [laughter] were not that different [laughter] were not that different [laughter] >> than the the you know the the the >> than the the you know the the the >> than the the you know the the the current uh current uh current uh in terms of their complete hatred of the in terms of their complete hatred of the in terms of their complete hatred of the uh industrialists. uh industrialists. uh industrialists. >> Okay. So like there's a guy Frick >> Okay. So like there's a guy Frick >> Okay. So like there's a guy Frick who I think was Carnegiey's partner and who I think was Carnegiey's partner and who I think was Carnegiey's partner and this is about steel and how to process this is about steel and how to process this is about steel and how to process steel and and do it at scale. steel and and do it at scale. steel and and do it at scale. I I believe this story is accurate. Uh I I believe this story is accurate. Uh I I believe this story is accurate. Uh let's just say mythology possibly true let's just say mythology possibly true let's just say mythology possibly true but I believe it's true. He a anarchist but I believe it's true. He a anarchist but I believe it's true. He a anarchist broke into his office while he was broke into his office while he was broke into his office while he was working. This is in like the eight like working. This is in like the eight like working. This is in like the eight like the early 1900s or late 1800s. an the early 1900s or late 1800s. an the early 1900s or late 1800s. an anarchist. anarchist. anarchist. >> Yeah. >> Yeah. >> Yeah. >> Broke into his office, shot him in the >> Broke into his office, shot him in the >> Broke into his office, shot him in the neck. neck. neck. >> Wow. >> Wow. >> Wow. >> He got it stitched up, went back to work >> He got it stitched up, went back to work >> He got it stitched up, went back to work that day. [laughter] that day. [laughter] that day. [laughter] >> And like somebody's going to look it up. >> And like somebody's going to look it up. >> And like somebody's going to look it up. I I believe it's true. I I believe it's true. I I believe it's true. >> Yeah. >> Yeah. >> Yeah. >> But somebody should should fact check. >> But somebody should should fact check. >> But somebody should should fact check. But you get the vibe of what's going on But you get the vibe of what's going on But you get the vibe of what's going on and how those guys rolled. And think and how those guys rolled. And think and how those guys rolled. And think about some of the entrepreneurs today about some of the entrepreneurs today about some of the entrepreneurs today that roll that way. Not all of them do. that roll that way. Not all of them do. that roll that way. Not all of them do. >> The Bits guys don't necessarily roll >> The Bits guys don't necessarily roll >> The Bits guys don't necessarily roll this way. Elon R, this way. Elon R, this way. Elon R, >> but the Adams guys rolled this way. >> but the Adams guys rolled this way. >> but the Adams guys rolled this way. >> Definitely, >> Definitely, >> Definitely, >> right? And so the second industrial >> right? And so the second industrial >> right? And so the second industrial revolution and you look at the revolution and you look at the revolution and you look at the characters and what they had to deal characters and what they had to deal characters and what they had to deal with and the adversity they had to go with and the adversity they had to go with and the adversity they had to go through. through. through. >> Um, by the way, they're also none of >> Um, by the way, they're also none of >> Um, by the way, they're also none of these guys is Jesus. So they had their these guys is Jesus. So they had their these guys is Jesus. So they had their they had their flaws too. they had their flaws too. they had their flaws too. >> Um, they were amazing. >> Um, they were amazing. >> Um, they were amazing. >> But there's a country. Yeah. There's a >> But there's a country. Yeah. There's a >> But there's a country. Yeah. There's a very interesting parallel to what's very interesting parallel to what's very interesting parallel to what's happening slashabout to happen now with happening slashabout to happen now with happening slashabout to happen now with like the coming industrial age. If we're like the coming industrial age. If we're like the coming industrial age. If we're selling our own book, we would call it selling our own book, we would call it selling our own book, we would call it the Adams Age. the Adams Age. the Adams Age. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. There's a book uh actually that >> Yeah. There's a book uh actually that >> Yeah. There's a book uh actually that that's very interesting on the kind of that's very interesting on the kind of that's very interesting on the kind of building of the war machine by the building of the war machine by the building of the war machine by the industrialists which won us World War industrialists which won us World War industrialists which won us World War II. No question. Um and the resistance II. No question. Um and the resistance II. No question. Um and the resistance that they got. It's called Freedoms that they got. It's called Freedoms that they got. It's called Freedoms Forge. Um, and you know, it was this guy Forge. Um, and you know, it was this guy Forge. Um, and you know, it was this guy Bill Nudson who Bill Nudson who Bill Nudson who was like the complete badass who figured was like the complete badass who figured was like the complete badass who figured out like the mass production at Ford and out like the mass production at Ford and out like the mass production at Ford and then got in an argument with Henry Ford then got in an argument with Henry Ford then got in an argument with Henry Ford and went to Chevy or went to GM and like and went to Chevy or went to GM and like and went to Chevy or went to GM and like yeah yeah yeah >> built Chevy and like all that kind of >> built Chevy and like all that kind of >> built Chevy and like all that kind of thing. Then went to work for the thing. Then went to work for the thing. Then went to work for the government for a dollar government for a dollar government for a dollar >> and to industrialize the nation. and the >> and to industrialize the nation. and the >> and to industrialize the nation. and the way he got fought by the press and way he got fought by the press and way he got fought by the press and everybody like like on on the most basic everybody like like on on the most basic everybody like like on on the most basic thing like he's like well if we tell him thing like he's like well if we tell him thing like he's like well if we tell him to shut down making cars and cars by the to shut down making cars and cars by the to shut down making cars and cars by the way employ 20% of America at the time way employ 20% of America at the time way employ 20% of America at the time >> if we tell them to shut down making cars >> if we tell them to shut down making cars >> if we tell them to shut down making cars to make tanks and and other things then to make tanks and and other things then to make tanks and and other things then we're going to have to give them some we're going to have to give them some we're going to have to give them some money. So like can we give them cost money. So like can we give them cost money. So like can we give them cost plus 7%. and which plus 7%. and which plus 7%. and which you know like seemed very reasonable you know like seemed very reasonable you know like seemed very reasonable like reading about it they're going to like reading about it they're going to like reading about it they're going to profit on the war like in every Eleanor profit on the war like in every Eleanor profit on the war like in every Eleanor Roosevelt like everybody was just out to Roosevelt like everybody was just out to Roosevelt like everybody was just out to kill this guy and uh you know somehow kill this guy and uh you know somehow kill this guy and uh you know somehow but th that kind of resistance is like but th that kind of resistance is like but th that kind of resistance is like very similar to what we're seeing in very similar to what we're seeing in very similar to what we're seeing in data centers today and that kind of data centers today and that kind of data centers today and that kind of thing where I think the governor of New thing where I think the governor of New thing where I think the governor of New York just banned data centers in the York just banned data centers in the York just banned data centers in the state state state >> there's a lot of parallels politically >> there's a lot of parallels politically >> there's a lot of parallels politically which actually I would just call that which actually I would just call that which actually I would just call that resistance resistance resistance >> [clears throat] >> [clears throat] >> [clears throat] >> to change. >> to change. >> to change. >> Yeah. >> Yeah. >> Yeah. >> And nature >> And nature >> And nature >> very fast change. Yeah, >> very fast change. Yeah, >> very fast change. Yeah, >> that's correct. >> that's correct. >> that's correct. >> So I, you know, I like, you know, I sort >> So I, you know, I like, you know, I sort >> So I, you know, I like, you know, I sort of think of it as like the most of think of it as like the most of think of it as like the most important truth seeeking important truth seeeking important truth seeeking >> is the seeking of valuable unknown >> is the seeking of valuable unknown >> is the seeking of valuable unknown truths. But if you're good at finding truths. But if you're good at finding truths. But if you're good at finding valuable unknown truths, valuable unknown truths, valuable unknown truths, >> you're creating change. >> you're creating change. >> you're creating change. >> Then you know things other people don't >> Then you know things other people don't >> Then you know things other people don't know, which means you can do things that know, which means you can do things that know, which means you can do things that other people can't do. And the better other people can't do. And the better other people can't do. And the better you are at it, the faster the change you are at it, the faster the change you are at it, the faster the change comes. And the matter that comes. And the matter that comes. And the matter that >> and the faster the change comes, the >> and the faster the change comes, the >> and the faster the change comes, the more nature will do what it does. It's more nature will do what it does. It's more nature will do what it does. It's called resistance to change. called resistance to change. called resistance to change. >> Yes. >> Yes. >> Yes. >> And so you have to figure out how to >> And so you have to figure out how to >> And so you have to figure out how to bring big time progress to overwhelm bring big time progress to overwhelm bring big time progress to overwhelm resistance to change. And you also have resistance to change. And you also have resistance to change. And you also have to build trust as best as you can so to build trust as best as you can so to build trust as best as you can so that you have more advocates versus that you have more advocates versus that you have more advocates versus adversaries. adversaries. adversaries. >> And this is the dynamic. And one of the >> And this is the dynamic. And one of the >> And this is the dynamic. And one of the things I want to say just on the things I want to say just on the things I want to say just on the industrial the industrial industrial the industrial industrial the industrial >> very hard to do by the way. >> very hard to do by the way. >> very hard to do by the way. >> Very hard. >> Very hard. >> Very hard. >> Everybody loves progress. It's change >> Everybody loves progress. It's change >> Everybody loves progress. It's change they can't stand. they can't stand. they can't stand. >> Yeah. Those two happen to go together. >> Yeah. Those two happen to go together. >> Yeah. Those two happen to go together. >> So >> So >> So >> yeah. So like but on the industrial AI >> yeah. So like but on the industrial AI >> yeah. So like but on the industrial AI thing it was like my whole vision note thing it was like my whole vision note thing it was like my whole vision note was physical AI and like this was physical AI and like this was physical AI and like this theoretical thing and it was very theoretical thing and it was very theoretical thing and it was very academic and theoretical and I want to academic and theoretical and I want to academic and theoretical and I want to say I want to get something that's say I want to get something that's say I want to get something that's practical brass tax. Industrial AI is practical brass tax. Industrial AI is practical brass tax. Industrial AI is basically this stack of software, basically this stack of software, basically this stack of software, sensors, robotics, machinery that sensors, robotics, machinery that sensors, robotics, machinery that automates an industry and we take it one automates an industry and we take it one automates an industry and we take it one industry at a time and it just became industry at a time and it just became industry at a time and it just became much more real and clear about what it much more real and clear about what it much more real and clear about what it is. You go physical AI, you're like, is. You go physical AI, you're like, is. You go physical AI, you're like, "Oh, so you're doing a humanoid." I'm "Oh, so you're doing a humanoid." I'm "Oh, so you're doing a humanoid." I'm like, "No, no, we're like the like, "No, no, we're like the like, "No, no, we're like the non-humanoid guys. I don't have a non-humanoid guys. I don't have a non-humanoid guys. I don't have a problem with them, but that's not what problem with them, but that's not what problem with them, but that's not what we do." You're like, "Oh, do you do like we do." You're like, "Oh, do you do like we do." You're like, "Oh, do you do like some military thing?" You're like, "No, some military thing?" You're like, "No, some military thing?" You're like, "No, [snorts] that's not my thing either." [snorts] that's not my thing either." [snorts] that's not my thing either." You know, it's like so this felt very You know, it's like so this felt very You know, it's like so this felt very clean about what it is we're about and clean about what it is we're about and clean about what it is we're about and how we're going after it. how we're going after it. how we're going after it. >> By the way, you know, a really >> By the way, you know, a really >> By the way, you know, a really interesting point on this whole thing is interesting point on this whole thing is interesting point on this whole thing is one of the things that we completely one of the things that we completely one of the things that we completely forgot how to do. We were the best in forgot how to do. We were the best in forgot how to do. We were the best in the world by far. We taught the world the world by far. We taught the world the world by far. We taught the world how to do was manufacture. And now we've how to do was manufacture. And now we've how to do was manufacture. And now we've basically forgotten how to do it as a basically forgotten how to do it as a basically forgotten how to do it as a country other than like Elon. Like if country other than like Elon. Like if country other than like Elon. Like if you need somebody who knows how to you need somebody who knows how to you need somebody who knows how to manufacture, you literally have to get manufacture, you literally have to get manufacture, you literally have to get them from Elon. them from Elon. them from Elon. >> Yeah. >> Yeah. >> Yeah. >> And we're going to have to relearn that. >> And we're going to have to relearn that. >> And we're going to have to relearn that. And actually the beginnings of that are And actually the beginnings of that are And actually the beginnings of that are are literally data centers. That is a are literally data centers. That is a are literally data centers. That is a manufacturing problem to a large extent, manufacturing problem to a large extent, manufacturing problem to a large extent, you know, with the cooling and the power you know, with the cooling and the power you know, with the cooling and the power and you know, you've got to build your and you know, you've got to build your and you know, you've got to build your own power and all that kind of thing. own power and all that kind of thing. own power and all that kind of thing. >> And there's so much resistance to that >> And there's so much resistance to that >> And there's so much resistance to that from the exact people who were just from the exact people who were just from the exact people who were just harping and harping for years about all harping and harping for years about all harping and harping for years about all the manufacturing jobs are going away. the manufacturing jobs are going away. the manufacturing jobs are going away. >> Well, they're back, [laughter] >> Well, they're back, [laughter] >> Well, they're back, [laughter] but we don't want them. And so like but we don't want them. And so like but we don't want them. And so like that's how that's how tough this this that's how that's how tough this this that's how that's how tough this this story is and this kind of narrative story is and this kind of narrative story is and this kind of narrative Yeah. is Yeah. is Yeah. is >> thank God there's still enough places >> thank God there's still enough places >> thank God there's still enough places that are still welcoming data centers. that are still welcoming data centers. that are still welcoming data centers. >> Yeah. >> Yeah. >> Yeah. >> That it's not like I the federal system >> That it's not like I the federal system >> That it's not like I the federal system is a wonderful thing because it's like is a wonderful thing because it's like is a wonderful thing because it's like you have this competition of some kind. you have this competition of some kind. you have this competition of some kind. >> States. >> States. >> States. >> Yeah. It's really interesting how that >> Yeah. It's really interesting how that >> Yeah. It's really interesting how that works out. works out. works out. >> Yeah. Otherwise we'd be Europe. >> Yeah. Otherwise we'd be Europe. >> Yeah. Otherwise we'd be Europe. >> Yeah. >> Yeah. >> Yeah. >> Okay. >> Okay. >> Okay. >> So, we were talking offline you were >> So, we were talking offline you were >> So, we were talking offline you were saying when you started Uber um you you saying when you started Uber um you you saying when you started Uber um you you know worked with people who would choose know worked with people who would choose know worked with people who would choose to work with you. Now you're in a to work with you. Now you're in a to work with you. Now you're in a different position. You have, you know, different position. You have, you know, different position. You have, you know, a bit more choice. You've been building a bit more choice. You've been building a bit more choice. You've been building in stealth. in stealth. in stealth. >> Sure. >> Sure. >> Sure. >> Now you're this your coming out story. >> Now you're this your coming out story. >> Now you're this your coming out story. >> Talk to us about, you know, what kind of >> Talk to us about, you know, what kind of >> Talk to us about, you know, what kind of team you're you're building here. How team you're you're building here. How team you're you're building here. How how folks can help. how folks can help. how folks can help. >> Well, look, we multi we just multiplied >> Well, look, we multi we just multiplied >> Well, look, we multi we just multiplied the number of industries we're going the number of industries we're going the number of industries we're going after by three. after by three. after by three. >> So [snorts] that's a kind of a thing. >> So [snorts] that's a kind of a thing. >> So [snorts] that's a kind of a thing. And each of them is a multi- trillion And each of them is a multi- trillion And each of them is a multi- trillion dollar dollar dollar >> Yeah. >> Yeah. >> Yeah. >> opportunity. >> opportunity. >> opportunity. And you know, look, I had I had some And you know, look, I had I had some And you know, look, I had I had some awesome guys. Like, you know, this is awesome guys. Like, you know, this is awesome guys. Like, you know, this is kind of a funny thing to say, but when kind of a funny thing to say, but when kind of a funny thing to say, but when you make you make you make >> somebody hundreds of millions of >> somebody hundreds of millions of >> somebody hundreds of millions of dollars, it's hard to hire them again. dollars, it's hard to hire them again. dollars, it's hard to hire them again. So, uh, so So, uh, so So, uh, so >> I've never had great success hiring rich >> I've never had great success hiring rich >> I've never had great success hiring rich people. people. people. >> Yeah. So, there you go. So, you know, >> Yeah. So, there you go. So, you know, >> Yeah. So, there you go. So, you know, but but you know, there's the crew like but but you know, there's the crew like but but you know, there's the crew like Emil Michael's now under secretary of Emil Michael's now under secretary of Emil Michael's now under secretary of defense, but uh he was my right hand on defense, but uh he was my right hand on defense, but uh he was my right hand on doing just epic deal making and doing just epic deal making and doing just epic deal making and strategic moves. strategic moves. strategic moves. I need the next Emil Michael if that I need the next Emil Michael if that I need the next Emil Michael if that makes sense. Uh like a head of corp dev makes sense. Uh like a head of corp dev makes sense. Uh like a head of corp dev bisdev that can build an inspired team, bisdev that can build an inspired team, bisdev that can build an inspired team, an inspiring team as an example. an inspiring team as an example. an inspiring team as an example. >> Um [clears throat] we're we're uh we're >> Um [clears throat] we're we're uh we're >> Um [clears throat] we're we're uh we're in the market for a general counsel. So, in the market for a general counsel. So, in the market for a general counsel. So, we're looking for somebody who can ride we're looking for somebody who can ride we're looking for somebody who can ride shotgun and shotgun and shotgun and >> Yeah. >> Yeah. >> Yeah. >> and uh and make sure that I'm, you know, >> and uh and make sure that I'm, you know, >> and uh and make sure that I'm, you know, so I I like to go to the line. We should so I I like to go to the line. We should so I I like to go to the line. We should be like a few inches off the line. be like a few inches off the line. be like a few inches off the line. That's a good thing to do. Um and then That's a good thing to do. Um and then That's a good thing to do. Um and then of course it's just the like I I need a of course it's just the like I I need a of course it's just the like I I need a I need a CEO of my mining business. I need a CEO of my mining business. I need a CEO of my mining business. >> Yeah. like I uh I need to be build >> Yeah. like I uh I need to be build >> Yeah. like I uh I need to be build technical leadership technical leadership technical leadership across the board from autonomy, heavy across the board from autonomy, heavy across the board from autonomy, heavy duty robotics and it's really like we duty robotics and it's really like we duty robotics and it's really like we have lots of folks coming in like all have lots of folks coming in like all have lots of folks coming in like all the time but it's like those epic the time but it's like those epic the time but it's like those epic leaders that can inspire their team to leaders that can inspire their team to leaders that can inspire their team to just go above and beyond and do really just go above and beyond and do really just go above and beyond and do really like make magic. Um, so we're all, no like make magic. Um, so we're all, no like make magic. Um, so we're all, no matter where you are as an entrepreneur, matter where you are as an entrepreneur, matter where you are as an entrepreneur, the the the talent game is the game. the the the talent game is the game. the the the talent game is the game. And, uh, again, when you multiply the And, uh, again, when you multiply the And, uh, again, when you multiply the industries by three, you you're we're industries by three, you you're we're industries by three, you you're we're back in the flow. And because we were back in the flow. And because we were back in the flow. And because we were stealth for so long, we weren't in the stealth for so long, we weren't in the stealth for so long, we weren't in the flow. We were cold calling everybody. flow. We were cold calling everybody. flow. We were cold calling everybody. And I think it's one of the beautiful And I think it's one of the beautiful And I think it's one of the beautiful things about us being back out there is things about us being back out there is things about us being back out there is okay, like we can we can now have like a okay, like we can we can now have like a okay, like we can we can now have like a a a place for people to understand who a a place for people to understand who a a place for people to understand who we are, what we're about, and I can we are, what we're about, and I can we are, what we're about, and I can start putting start putting start putting teams together that can be out there in teams together that can be out there in teams together that can be out there in a very public way and and and let people a very public way and and and let people a very public way and and and let people know the great work we're doing. So, know the great work we're doing. So, know the great work we're doing. So, >> and if you're joining now, you're you're >> and if you're joining now, you're you're >> and if you're joining now, you're you're joining both with the benefit of having, joining both with the benefit of having, joining both with the benefit of having, you know, uh all the lessons you've you know, uh all the lessons you've you know, uh all the lessons you've learned and things you've proven out learned and things you've proven out learned and things you've proven out with cloud kitchens and of course Uber with cloud kitchens and of course Uber with cloud kitchens and of course Uber before that. So, almost two decades, but before that. So, almost two decades, but before that. So, almost two decades, but early enough such that there's the early enough such that there's the early enough such that there's the upside of, you know, upside of, you know, upside of, you know, >> enormous opportunity going forward. >> enormous opportunity going forward. >> enormous opportunity going forward. >> Yeah. And and and the ability to do >> Yeah. And and and the ability to do >> Yeah. And and and the ability to do something like super meaningful, I mean, something like super meaningful, I mean, something like super meaningful, I mean, >> yeah. >> yeah. >> yeah. >> Save kids from working in the mines. uh >> Save kids from working in the mines. uh >> Save kids from working in the mines. uh you know basically making it so that you know basically making it so that you know basically making it so that everybody can have great food like you everybody can have great food like you everybody can have great food like you know instead of like eating know instead of like eating know instead of like eating >> super healthy food >> super healthy food >> super healthy food >> that gives people their time back. >> that gives people their time back. >> that gives people their time back. >> Yeah. Yeah. >> Yeah. Yeah. >> Yeah. Yeah. >> Um while also saving money. Yeah. >> Um while also saving money. Yeah. >> Um while also saving money. Yeah. >> And saving money. >> And saving money. >> And saving money. >> Yeah. >> Yeah. >> Yeah. >> Yeah. It's a it's a hell of a mission. >> Yeah. It's a it's a hell of a mission. >> Yeah. It's a it's a hell of a mission. >> Yeah. So we're we're having a lot of >> Yeah. So we're we're having a lot of >> Yeah. So we're we're having a lot of fun. It's good times. Yeah. It's a great fun. It's good times. Yeah. It's a great fun. It's good times. Yeah. It's a great place to wrap. All right. Thank you. place to wrap. All right. Thank you. place to wrap. All right. Thank you. Awesome. Thanks, guys.