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Given a 5% year-on-year decrease in COGS, and an increase in leverage
from 1.4x to 2.8x, we think we can increase free cash flow by 67% and
increase our underlying IRR by 14%.
>> Given a 5% decrease in cost year-on-year and
an increase in the leverage from 1.4x to 2.8x,
we believe we can increase the CF by 67% and
also increase the underlining ROI by 14%.
>> I'm here to talk to you guys about disruptive innovation.
A real paradigm shift in SoLoMo.
We are zenuber.io and we're here to change the world.
>> I'm here to talk to you about disruptive innovation.
About SoLoMo.
We are zenuber.io and we are here to change the world.
>> I'm here to talk to you about disruptive innovation.
About a paradigm shift in SoLoMo.
We are zenuber.io and we're gonna change the world.
>> As you ascend from the sea floor, it's very critical for
you to be neutrally buoyant.
>> As you ascend from the sea floor, it's very critical for
you to be neutrally buoyant.
>> As you begin your ascent from the sea floor,
it's critical that you become neutrally buoyant.
>> Now, I don't know about you, but
you've just heard three of us say the same thing three different times.
And yet I'm guessing if you looked around the room or
if I pulled you, the credibility of each of the speakers may have differed.
For example,
startup bro talking about the private equity model, unlikely to worth much.
Ryan talking about disruptive innovation, slightly more skeptical as well.
And the gal in the suit telling you [LAUGH] what you should be doing when you
dive into the ocean, again not a source of credibility.
We spend a lot of time in the this class talking about how my vocal tilt, or
my physical gestures, make a difference in our presentation.
How they affect how you react,
how they affect what you learn, how they affect what you pay attention to.
What we haven't spent as much time, though Karina tried to in the last presentation,
is talking about attire and its effect on us.
And the way you see it, attire has three main issues.
One, [LAUGH] unlike most Mark Twain poets, ours is real and
not just a product of the Internet.
But broadly, [LAUGH] attire talks about every interaction that we have.
>From the broad cultural thing, be aware of where you are and who you're speaking to.
The specific audience you're dealing with, whether it's an interaction or a meeting.
But more importantly, the effect that you can have on yourself.
>> As a different cultures and
different societies have several essential nuances about their culture.
For example, in the Western culture,
it is encouraged to wear red as a color statement.
On the other hand, you do not want to wear red to an Indian wedding.
However attractive you may appear, you do not want to steal the show from the bride,
because red is strictly the color of the bride in the Indian wedding.
Speaking about color, let's look at some of the strong personalities in this world.
How they have influenced the societies and the regions, right?
This is Margaret Thatcher, and there's a lot of thought that has
gone in the selection of the powder blue suit that she wears.
Blue is a universally accepted color.
Blue is a color that avoids evil in Greece.
And blue is also the color of Lord Krishna for Hinduism.
Blue represents holiness for the church.
As you can see, there's lot of thought that has gone
into this understanding of the cultural biases and making this position.
Further, let's kinda drift down from societies and
countries to communities and industries, and see what attire means.
As many of you may recognize this guy, he is Paul Graham,
who is the cofounder of White Combinator.
As you can see, he's speaking to a bunch of start up guys.
Many of you could easily guess what start up guys wear.
They're so busy with starting their businesses,
they have no time to shop, absolutely don't care about dress.
And rightfully here, Paul Graham is talking to them in the appropriate attire
to inspire them and to actually send his personal message of what matters to him.
Now try to connect to the community,
I will also want to give you a word of caution, right?
For example, just because you're talking to a bunch of teenage skateboarders,
you do not want to appear in the teenage clothes unless you're someone like
Rodney Mullen, who is actually the greatest street skateboarder in the world.
>> [LAUGH] >> [LAUGH] And
thus, it's essential to be authentic also in terms of what you are,
as you bring your perception to the audience.
And if you're authentic, you cannot only build your brand,
there's a lot more you can do after your [INAUDIBLE].
Steve Jobs.
What has simplistic dressing,
he not only made a statement of him being an unconventional CEO,
he actually set up the culture of what Apple is to be.
How many of you remember what Apple was before 1998?
Look at all his key notes from 1998 all the way to 2010.
It's the same pair of denim jeans, it's the same black turtle neck, and
also the same pair of sneakers.
He surely wanted to create a culture for simplicity and also being unconventional.
If I said, let's look at what you want to create an impact on,
whether it be industry or whether just bunch of people like you in the room.
Let's talk about what's the impact we want to create with attire on others.
>> So we spent some time talking about culture and its effect on people, but
there's also effect on the specific audience you deal with.
For example, this is a fact.
You know this, I know this, and the scientific research backs you up.
Allison Novaberg, for example.
[LAUGH] A study in the UK found that 45% of
people think that someone wearing glasses appears more intelligent.
A study in Switzerland found that even when you're dealing with random strangers,
if they are wearing glasses,
you think they are smarter with no other evidence to the contrary.
For those of you who are looking at some point in your careers to run into trouble
with the law, and I'm looking at some of the private equity kids here.
>> [LAUGH] >> One of the really interesting findings
of the American Journal of Forensic Psychology, is that defendants who wear
glasses are less likely to be found guilty than those who don't.
More importantly, the same defendants are perceived by juries
who again have listened to them lie and steal for
God knows how long, to be significantly smarter and more trustworthy.
Is there any rational basis to this?
Absolutely not.
Am I gonna wear these in the presentation?
Absolutely.
Aside from that though, there are downsides as well.
Everyone's seen the Hollywood version where Anne Hathaway clearly is a giant
nerd when she has glasses, and suddenly is a shining princess without it.
But women in particular,
as again Karina talked about earlier, had different issues with the attire.
I'm guessing every woman here knows that she is judged more harshly for
her attire than men are.
What is interesting, and
perhaps sad, is that women are judged more harshly on their attire by other women.
A study, again in the UK, pointed out had 129 women look at a panel of images.
These images varied on two dimensions.
One, some of the women were labelled as high status, AKA managers, and
the other women were labelled as receptionists.
The second dimension is some of the high status and some of the low status women
had clothes that were described as slightly more provocative.
Provocative here meaning a skirt that was half an inch shorter than the other half.
What do you think we found?
For the receptionist, no difference.
Their competence was just the same,
whether they were wearing a slightly shorter skirt or not.
For the high status women though,
they were judged supremely harshly to the extent that their skirt was shorter.
Is there any basis for this?
Absolutely not.
Is this fair?
Definitively not.
Does it mean that you shouldn't pay attention to it?
No way. You absolutely should.
But this isn't limited to that.
Both of them are actors.
Both of them play doctors.
And yet, if you looked at America and
polled them on who was more competent, the guy on the left would definitively win.
A University of Michigan meta study found that in 21 of 30 studies, doctors wearing
white lab coats meant the patients thought they were A, more competent, B, more
trustworthy, and C, more likely to provide them with better healthcare going forward.
Once again, the point here isn't about the facts underlying it.
But in the world of evidence-based medicine,
they said that the patient feels better about themselves is a big deal.
So the actual takeaway from this study was that they told doctors to put on white lab
coats, whether they had them or not, just because patients felt better about them.
But we've talked about culture and we've talked about others.
The really fascinating impact with this stuff,
is what your clothing can do for you.
>> So I wanna talk to you about the impact your clothing can have on your
self-perception and self-confidence.
So, many of you recognize this man [LAUGH] but I wanna remain culturally sensitive
for those of you who didn't grow up in the United States.
His name is Mister Rogers.
Now Mister Rogers used to be the host of a children's television show, and
he would start every show by walking into his house, changing his sweater,
sitting down, taking off his loafers and putting on some sneakers,
that were essentially what he liked to wear in his house.
And what he was doing was changing his clothing from what he felt comfortable in
in the outside world, to what he felt comfortable in in his house.
Sorry.
And it's kinda logical.
Solomon and Douglas did a study where they found that when your clothing,
your attire, matches your situation, there are positive psychological consequences.
Many of you thought I flubbed it.
That was intentional.
But as [INAUDIBLE] was mentioning about
the perception that people have about glasses, it's internal as well.
So a study was done where essentially two groups were broken apart.
One of those groups was given glasses and they were asked to take an IQ test.
The group that was given glasses rated their performance more highly.
A sign of self-confidence,
despite the fact that they didn't actually perform better.
But there are other studies which actually show there is an increase
in performance when you do kind of dress up.
There's an interesting nuance to this, though.
So, as a generality, when you're wearing business formal attire, you feel more
trustworthy, you feel more confident, and you feel more authoritative.
When you're wearing casual clothing, you feel friendlier,
you feel more creative, but you may feel less productive.
And when your preference matches what you're wearing,
those attributes are amplified.
So for example, let's say I'm a finance guy and I need to go present at a startup.
I'm probably not gonna go Adakoudi style,
because I'm not gonna be in my comfort zone.
What I probably wanna hit is that business casual zone.
Where I'm more aligned with my level of comfort in terms of the attire
I prefer to wear, but I'm not alienating myself from my audience.
So in terms of choosing the attire that is most appropriate for
your presentation, we ask that you follow the reverse pyramid method.
You start out widely with a culture that you are presenting to.
You narrow down to your direct audience.
There's others you're gonna be interfacing with, and then look at yourself.
What are you most comfortable with?
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