Fwd: June 2017 Newsletter

Being Uniquely Human As a follow-up to last month's post on being 'Uniquely Human', this month, we will highlight scenarios which are best delegated Being Uniquely Human Better to Delegate As a follow-up to last month's post on being 'Uniquely Human', this month, we will highlight scenarios which are best delegated to robots, tools, applications and devices. 1. Delegate when it's all about the facts, and the data is accurate and voluminous. With that said, make sure that humans structure the problem statement, ensure that the data is relevant, timely and accurate, and that the findings are in the right ballpark. 2. Delegate when it's more efficient for a system, tool or mechanism to perform a function than having a human perform that function. Even if it means that there are fewer jobs for humans. Train those humans to do jobs on top of or other than these functions. 3. Automation of processes and production is more efficient than having humans perform redundant tasks. Having humors design and oversee the production to meet ongoing needs makes sense. 4. Leverage robots, tools and solutions to serve people who can not do things for themselves, to ensure that their basic needs are covered, and they have the support they need 24x7. 5. Delegate when there is high demand for repetitive processing and the need for accurate results. Humans can oversee and manage the proper functioning of the programs and ensure customer satisfaction. 6. Delegate when it's not safe for humans to perform the necessary task. Delegate when repetitive and strenuous tasks may result in injury and wear. 7. Leverage software and AI and big data to get the real-time information you need to make data-based decisions. 8. Create programs, tools and reports which help you understand the changes going on in the world, in the industry, in the market so that you can proactively respond to them. 9. Design and leverage reports that produce data about the performance of your workforce and your products and decisions. Analysis of these reports facilitates proactive real-time, and long-term data-based decision-making. 10. Delegate as much as possible to machines, processes, systems and tools, and know how experienced and knowledgable humans would integrate solutions as a value-add for the business. The bottom line is that we should delegate tasks and functions to robots software and tools, and consider it an additive, not a threat to the overall job market. Innovating in an Age of Personalization Choose to Innovate ▪ Better to Delegate, June 2017 ▪ Being Uniquely Human, May 2017 ▪ Seize the Digital Advantage, March 2017 ▪ An Innovation Conversation, February 2017 ▪ When Digital Meets Physical, January 2017 ▪ On Being Limitless, November 2016 ▪ Leading Digital Transformation, October 2016 ▪ From This Trickle Comes a Flood, September 2016 ▪ Innovation and Diversity: Two Sides of the Same Coin, November 2013 ▪ Ten Shades of Innovation, September 2014 For more information, and links to articles over written over the past few years, visit http://fountainblue.biz/ageofpersonalization// or e-mail us at info@fountainblue.biz. Follow our blogs and curated content at http://www.scoop.it/ageofpersonalization. About FountainBlue's When She Speaks Series FountainBlue's When She Speaks, Women in Leadership Series FountainBlue's When She Speaks, Women in Leadership Series was launched in May 2006 and provides ongoing networking and program benefits for 50-100 high tech women and men-who-support-having-women-in-leadership positions across Silicon Valley and beyond. On the second Fridays over lunch, we profile a panel of women senior executives in high tech companies, speaking on a range of leadership challenges and issues for Silicon Valley high tech women in particular. Our series celebrates women leaders, stimulates critical thinking and conversation around leadership challenges and issues, empowers and inspires all participants, including the next generation of leaders, and builds a proactive, collaborative and supportive leadership community overall. This Month's When She Speaks Event in Silicon Valley: Friday, June 23, 11:30 a.m. – 1:30 p.m. eBay Inc., 2025 Hamilton Ave, San Jose, CA 95125 Navigating a Multi-Generational Workforce Register at www.whenshespeaks.com Invitation details at https://madmimi.com/p/56c21a They say the boomers (born before 1963) are more productive and hardworking team players, but they are also less adaptive and less collaborative in general. They say that Gen X (born 1963-1980) have better managerial skills and are better at revenue generation and problem solving, but they are less cost-effective and have less 'presence'. They say that Millennials (born 1980-1996) are more enthusiastic and tech-savvy, entrepreneurial and opportunistic, but they are also more likely to be unproductive and self-absorbed. Our panel will represent an exec and an millennial from three different companies, sharing their in-the-trenches knowledge about understanding about 1) how differing communication styles can lead to miscommunications and misunderstandings 2) how the myths and stereotypes we have of others in other generations may hamper our assessment of others and how we are perceived by others, as well as well as 3) how the inclinations and leanings of each generation impact the way they think and communicate and act. Our Executive Panelists include: Panelist Mary Emerton, VP Manufacturing, Nutanix Panelist Tiffaney Fox Quintana, Vice President of Marketing, HelloSign Panelist Helen Kim, VP of Business Operations, eBay Panelist Kerry McCracken, Vice President: Flex Connect, Flex Panelist Jennifer T. Miller | Vice President & Deputy General Counsel, Gigamon Our Millennial Panelists include: Panelist Maliena Guy, Senior Product Manager-eBay Search, eBay Panelist Amanda Lurie, Business Manager, Leadership Development Program, Flex Panelist Nikita Maheshwari, Sr. Product Manager, Nutanix Panelist Claire Murdough, Content Marketing Manager, HelloSign Panelist Catherine Stevenson, Human Resources Representative, Gigamon For more information visit www.whenshespeaks.com Notes from Our Monthly When She Speaks Event Age of the Customer FountainBlue's May 12 When She Speaks panel was on the topic of Age of the Customer. Please join me in thanking our gracious hosts at WD and our panelists! Facilitator Linda Holroyd, CEO,FountainBlue, CMO 888 Steps Panelist Amy D. Love, VP Corporate Marketing, TriNet Panelist Anshu Narula, Engineering Director, Partners and Marketplaces, PayPal Panelist Suchitra Narayen, VP, Legal and Associate General Counsel, Supply Chain Legal, Oracle Panelist Margret Schmidt, VP Product Development & Chief Design Officer, Tivo Below are notes from the conversation. We were fortunate to have such seasoned, well-spoken and diverse set of leaders on our panel, representing a wide range of companies, roles, backgrounds and cultures. They also had much in common: * They worked hard to prepare for success through their academic choices, their professional positions, and their direct experience. * They have a wide range of experiences working with a broad breadth of customers, which qualifies them well to communicate the needs of the customer to staff, executives, providers and partners and all others in the ecosystem, while also providing them the credibility and influence to lead initiatives which transform how companies proactively meet the needs of the customer. * They each had a broad view of who the customer is, and are laser-focused on serving the needs of those customers. * They don't aim to please every customer every time, but they do make sure that the team and company get it right when things don't go as planned. * They understand enough about the products, the processes, the people, the solution, and the needs of the customer so that they can orchestrate comprehensive, customer-facing initiatives involving an ecosystem of stakeholders, all focused on providing exceptional service and solutions for each niche customer segment. * Each leader came from different industry backgrounds, and each found her way into technology companies. They leveraged their experience and perspective to transition to the technology industry, and to rise among the ranks once they've landed there. Below are our panel's thoughts on why customers are more empowered today: * The advances in IT and technology and the reach to a large volume of people worldwide is creating larger markets. * Allowing the larger volumes of customers to connect with each other gives more power to each customer. As a consequence: 1) Customers can better vet solutions with online information or networks of others prior to making purchasing commitments, and are no longer dependent on companies for the information they need to make a commitment. 2) With access to other customers and to online information, customers can more clearly envision alternative offerings. 3) There's a plethora of offerings for almost every solution, so customers can be more discerning about which offering would best serve their needs. * With the large volumes of offerings and customers, there are also changes in regulations and laws worldwide. * Because of the sheer volume of information hitting customers, there is little patience to wait for load times for example, and little tolerance if information isn't available in the format customers need at the moment (think it's got to work on their mobile device NOW). Below is collective advice from our panel on how companies can better anticipate and serve customers. * Accept that the customers are empowered and create processes to ensure companies gather quantitative and qualitative data about current and anticipated needs, hire, develop and retain people who are service-oriented, and influence the company's vision and direction to ensure a culture and mindset that puts customers first. * Collect and follow the data about what customers are looking for, and how satisfied they are about the service provided by your company. * Be empathetic about the needs of the customer – in vision and in execution (product, service, UI). Measure your company's success in this area, and train everyone to have that customer-empathy mind-set. * Be the customer spokesperson at every opportunity. Do things great and small to perpetuate that customer-centric mentality. * Connect customers to each other in community, and collaborate with those communities to proactively serve niche customers. * Consider creating and supporting a customer advisory board, which would be a great way to get proactive and ongoing input from your most influential customers. * Create and serve niche customer communities where it makes sense, and empower them to define their needs. * Create efficient and scalable solutions which are based on the needs of the customer. Don't be so customer-centric that you would design one-offs for each individual customer, regardless of how many other customers would need that solution and how much it would cost to deliver that solution! * Make every customer feel important, no matter how much or little they might impact the bottom line. With that said, listen and act more responsively to the customers who represent larger current and potential markets. * No matter where you sit at the table, no matter what kind of impact or knowledge you might have about a problem or solution, take ownership of a customer's issue or problem and make sure that she or he gets served. Propagate and reward that mindset within your company. * The customer is always right, unless they're not. Work with them to get it right if you need to, then serve them well, within or outside the direct connection with your company. * Collect the detailed data around customer expectations, preferences and aversions and respond based on that data. In conclusion, our panel attests that it's a 'Buyer's Market'. The customer will remain empowered for the foreseeable future. The companies who recognize, accept and even embrace this change will gain and maintain market leadership. Notes from Our Monthly VIP Roundtable Series Being Human in an Age That's Digital FountainBlue's May 5 VIP roundtable was on the topic of 'Being Human in an Age That's Digital'! Please join me in thanking our gracious hosts at Samsung and our participating executives. Below is a compilation of their ideas and thoughts on how we are stretching the technology envelope. There was a mind-boggling discussion about how each participating company and leader is pushing the technology envelope for a Digital Tsunami with the hardware, the software, the data, analytics, AI… The brilliance, hard work and perseverance is advancing technology solutions at an increasingly rapid pace, and the lives of almost all of us are forever changed by it. ▪ Machines and programs and technology innovations are collecting the information and data necessary to make informed decisions. Humans need to make these decisions, hopefully based on the data and information collected. ▪ Great minds are collaboratively designing and implementing solutions which solve the world's problems - even the ones caused by over-population, like food production and housing at scale. But it will take humans to create and implement and integrate these solutions, and prioritize resources and research to ensure that the largest amount of people benefit in the short term and for the long term. ▪ Creating innovation labs focused on solving the requests and needs of those customers just makes sense, especially as change happens so quickly, and customers become increasingly more demanding. No matter how sophisticated these digital and IoT and other solutions get, remember that managing and running the interactions, relationships and entities themselves requires experienced humans. ▪ Machines and programs may be great at providing historical data in rich and detailed formats, but are not as good as seasoned humans who can do forecasting and predictions based on historical data, and current conditions and trends. ▪ It takes a human to make an irrational risk that could lead to a transformational solution or experience. ▪ It takes a human to create and deliver an engaging, persuasive and memorable communication and experience which connects with other humans. ▪ Although IoT and other innovations will facilitate vast improvements for healthcare and education and all other industries, humans will be in charge, and it will remain difficult to delegate interactions and duties to machines and programs and drones. Below is advice on how to balance the need for those sophisticated digital innovations with the need to support the humans who implement them. ▪ Think about solutions as interactions between people, between things, and between people and things. ▪ Think not just about how to innovate and what would work, but also about what would get adopted and accepted easily. ▪ Look not just at the current anticipated value, but also at the stickiness of the value-add for the solution in the long term. ▪ Consider not just the solution you'd like to implement, but also the transition strategy so that the full ecosystem of stakeholders will embrace the new solution. The bottom line is that technology and innovation will never replace the educated, hard-working human. But humans who chose not to embrace technology, not to keep up with the digital revolution may find that there's little place in the workforce for their skill set. Silicon Valley Event Recommendations Submit your in-person, Silicon Valley online now To support our members and partners, every month, we profile upcoming FountainBlue and featured partner events submitted by members and partners which may be of interest to entrepreneurial FountainBlue community members. If you are representing a sister organization within Silicon Valley (no SF events), producing in-person (no webinars or virtual events) events of interest to our entrepreneurial clean energy, high tech or life science members, you may submit your event by completing the form at http://form.jotform.us/form/32027262343142 or e-mailing us a COMPLETE and FINAL copy of the event details, in text format (no attachments) to info@fountainblue.biz in the format below by noon, at least six weeks before your event: Date and time: Event Topic: Sponsoring Group: Location: Speaker (s): Cost: Registration and More Information: FountainBlue Discount Code (if any): Below is a list of this month's event recommendations: Date and time: Wednesday, June 7 from 8:30 am - 6:00 pm Event Topic: ASAP Tech Partner Forum Sponsoring Group: Association of Strategic Alliance Professionals Location: NVIDIA Corporate Headquarters, 2800 Scott Boulevard, Building E, Santa Clara Cost: $399. More Information: http://www.asaptechforum.org Registration: http://www.asaptechforum.org/17/tech17rates.html 888 Steps: Scale Intensely Lunch/Dinner and Learn Workshops - $25 Thursday, June 8, 6:30 - 8:30 p.m. @ Techlab Innovation Center, 2040 Martin, Santa Clara - free for TechLab members, $25 for non-members Do You Have What It Takes To INTENSELY SCALE Your Business? The typical entrepreneur can be characterized as innovative, bold, passionate, and persistent. To succeed, your team needs to be smart!! Do you understand your unique strengths and your current limitations? As a resource to dozens of entrepreneurs worldwide, the management team at TechLab Innovation Center together with 888 Steps encourages you to assess your entrepreneurial strengths and weaknesses. Join us to: 1. Receive a score and report based upon your results with feedback on seven key areas of entrepreneurial skills: – Strategic Planning – Product Development – Project Management – Marketing – Funding – Staffing – Sales To register for any of these workshops, visit http://888steps.eventbrite.com Date and time: Friday, June 9 from 8:30 am - 1:00 pm Event Topic: Autotech Council: Mapping and Navigation Sponsoring Group: Autotech Council Location: SanDisk - 110-119 Technology, 110-199 Technology Drive, Milpitas Cost: Free for members, $200 for non-members. More Information: https://autotech.cvent.com/maps17 Registration: https://autotech.cvent.com/maps17 Date and time: Thursday, June 15 from 5:30 pm - 8:30 pm Event Topic: Women In Consulting: Best Practices Survey Results Sponsoring Group: Women In Consulting Location: Michael's at Shoreline, 2960 N. Shoreline Blvd., Mountain View Cost: $40-$65. More Information: http://bit.ly/2peFt07 Registration: http://bit.ly/2peFt07 Friday, June 23, 11:30 a.m. – 1:30 p.m. eBay Inc., 2025 Hamilton Ave, San Jose, CA 95125 Navigating a Multi-Generational Workforce Register at www.whenshespeaks.com Invitation details at https://madmimi.com/p/56c21a Our Executive Panelists include: Panelist Mary Emerton, VP Manufacturing, Nutanix Panelist Tiffaney Fox Quintana, Vice President of Marketing, HelloSign Panelist Helen Kim, VP of Business Operations, eBay Panelist Kerry McCracken, Vice President: Flex Connect, Flex Panelist Jennifer T. Miller | Vice President & Deputy General Counsel, Gigamon Our Millennial Panelists include: Panelist Maliena Guy, Senior Product Manager-eBay Search, eBay Panelist Amanda Lurie, Business Manager, Leadership Development Program, Flex Panelist Nikita Maheshwari, Sr. Product Manager, Nutanix Panelist Claire Murdough, Content Marketing Manager, HelloSign Panelist Catherine Stevenson, Human Resources Representative, Gigamon They say the boomers (born before 1963) are more productive and hardworking team players, but they are also less adaptive and less collaborative in general. They say that Gen X (born 1963-1980) have better managerial skills and are better at revenue generation and problem solving, but they are less cost-effective and have less 'presence'. They say that Millennials (born 1980-1996) are more enthusiastic and tech-savvy, entrepreneurial and opportunistic, but they are also more likely to be unproductive and self-absorbed. Our panel will represent an exec and an millennial from three different companies, sharing their in-the-trenches knowledge about understanding about 1) how differing communication styles can lead to miscommunications and misunderstandings 2) how the myths and stereotypes we have of others in other generations may hamper our assessment of others and how we are perceived by others, as well as well as 3) how the inclinations and leanings of each generation impact the way they think and communicate and act. Facilitator Linda Holroyd, CEO, FountainBlue, CMO, 888 Steps Our Executive Panelists include: Panelist Mary Emerton, VP Manufacturing, Nutanix Panelist Tiffaney Fox Quintana, Vice President of Marketing, HelloSign Panelist Helen Kim, VP of Business Operations, eBay Panelist Kerry McCracken, Vice President: Flex Connect, Flex Panelist Jennifer T. Miller | Vice President & Deputy General Counsel, Gigamon Our Millennial Panelists include: Panelist Meliena Guy, Senior Product Manager-eBay Search, eBay Panelist Amanda Lurie, Business Manager, Leadership Development Program, Flex Panelist Catherine Stevenson, Human Resources Representative, Gigamon www.whenshespeaks.com Techlab Innovation Center, 2040 Martin, Santa Clara July 11 and 13, 6-10 p.m., July 15 9 a.m. - 3 p.m., July 17 half hour tbd 888steps.eventbrite.com 888 Steps: Week-long Intense Scalability Workshop - $1500 including worksheets and meals As a follow-up to the lunch/dinner and learn workshop, Serial entrepreneur and 888 Steps CEO Larry Gletzer leverages his broad experience and from-the-trenches expertise in leading, growing and running tech start-ups to create a 7-phase, 888-step process for growing a company zero to $2M to $10M, getting funded and growing to $100M-plus. This Intense Scalability workshop will be conducted over a course of one week and will include 99 worksheets which take anywhere from 30 minutes to 3 hours each to complete. It's designed for entrepreneurs who are interested in intensely scaling their companies, and willing to commit the time and energy to follow a comprehensive 7-phase, 888-process for doing so. FountainBlue's When She Speaks in SV Event Friday, July 14 @ NVIDIA, Resolving Conflict When the Stakes are High $40 partners, $50 general admission, $300 for all 2017 events www.whenshespeaks.com Facilitator Linda Holroyd, CEO, FountainBlue, CMO, 888 Steps Panelist Vicki Sam, Chief of Staff/VP, EFI Panelist Debbie Shotwell, Chief People Officer, Saba Software Panelist Joy Taylor, General Manager, Product Line Director, Texas Instruments Panelist Liming Wang, Sr. Director, Manufacturing Finance, Western Digital Panelist from NVIDIA to be confirmed Friday, July 21, 11:30 a.m. – 1:30 p.m. Lean IN, and Level It UP Bigcommerce, 685 Market Street, Third Floor / San Francisco Register at http://whenshespeaks.com/sf/ Every senior leader has had their share of obstacles and challenges - whether it's in completing a project, managing an employee, establishing a partnership, and, of course, leveling up within an organization. This month's panel will feature advice and insights for leaning in, in collaboration with trusted others AND leveling up in skill set and experience which result in roles and titles which bring more impact and a larger and longer ripple effect. Facilitator Linda Holroyd, CEO, FountainBlue; CMO, 888 Steps Panelist Ghazal Asif, VP of WWW Channels, AppDynamics Panelist Shanthi Ramamurthy, Managing Director, Accenture Technology Panelist Alexandra Shapiro, CMO, BigCommerce www.whenshespeaks.com FountainBlue's When She Speaks in SV Event Friday, August 11 @ Palo Alto Networks, Balancing Privacy, Security and Access $40 partners, $50 general admission, $300 for all 2017 events www.whenshespeaks.com FountainBlue's When She Speaks in SV Event Friday, Sept 8 @ Texas Instruments, Make Your Own Rules $40 partners, $50 general admission, $300 for all 2017 events www.whenshespeaks.com FountainBlue's When She Speaks in SV Event Friday, Oct 13 @ PayPal, ISMAC is Where It's At: Immersive, Social, Mobile, Analytics and Cloud $40 partners, $50 general admission, $300 for all 2017 events www.whenshespeaks.com FountainBlue's When She Speaks in SF Event Friday, October 19, 11:30 a.m. – 1:30 p.m. iSMAC is Where It's At - in SF AppDynamics, 303 Second Street North Tower, 8th Floor in SF $40 partners, $50 general admission, $100 for all four 2017 quarterly events in SF www.whenshespeaks.com FountainBlue's When She Speaks in SV Event Thursday, Nov 9, 4-6 p.m. @ Polycom, Level It UP! $40 partners, $50 general admission, $300 for all 2017 events www.whenshespeaks.com FountainBlue's When She Speaks in SV Event Friday, Dec 8 @ Nutanix, Collaboration Best Practices $40 partners, $50 general admission, $300 for all 2017 events www.whenshespeaks.com About FountainBlue FountainBlue is a management consultancy which provides executive coaching, tech advisory and other consulting services to tech leaders in corporations and start-ups in Silicon Valley and beyond. At FountainBlue, we believe that leadership takes place 'One Conversation, One Leader, One Organization at a Time'. Therefore, we work with tech execs and entrepreneurs to envision, strategize and create 'What's Next' through our coaching and consulting services, as we move from an Age of Information to an Age of Personalization. Join us for our monthly and quarterly events and series, and sign up for our weekly event notifications and monthly newsletters. For more information, visit www.fountainblue.biz or www.whenshespeaks.com. Until We Next Connect We invite your comments, input and participation and look forward to seeing you at the next When She Speaks event, or finding out more about your coaching, advising and consulting needs. Until we next connect, Linda Holroyd Founder and CEO, FountainBlue Organizer, When She Speaks and VIP Roundtable Series CMO, 888 Steps VP of Professional Services, OOCIO We hope that you've enjoyed reading FountainBlue's free monthly newsletter and hope to include you in our upcoming programs. We welcome you to forward it on to interested others, with proper reference to FountainBlue. For more information, visit our web site. Find out more about FountainBlue   Find out about our monthly When She Speaks series   E-mail us with your questions or comments Find out more about FountainBlue's Executive Coaching Services   Find out about FountainBlue's Tech Advisory Services   Find out more about FountainBlue's Consulting Services Follow our curated leadership content   Follow our curated content on the Age of Personalization       ©2017 FountainBlue | 405 Hedgerow Court, Mountain View, CA 94041 Web Version   Forward   Unsubscribe     Powered by Mad Mimi®A GoDaddy® company

Fwd: an expert is someone who can tell you...

Want to do something new and disruptive?

Want to change the status quo?

Here's some advice -- be careful before consulting "experts"…

"An expert is someone who can tell you exactly how something can't be done." (See Peter's Laws #21)

In a rather perverse twist, experts are generally disincentivized from promoting disruptive ideas.

If someone's new theory creates a wholesale change in their field, then the expert goes from fame to a "has-been."

Many 'experts' are therefore consciously or unconsciously incentivized to keeping their field exactly the way it's always been.

Here's an example from the past…

In the early 1700's, calculating the longitude was extremely difficult, but very valuable for the British fleets.

In attempt to solve the problem, the British government launched The Longitude Prize in 1714 – a £20,000 prize (millions in today's dollars) for the person who could build a device that could accurately calculate longitude.

The Longitude Board was composed of the world's greatest astronomers, experts in their fields, because it was assumed that the solution would be astronomical in nature.

So when John Harrison, a watchmaker, proposed and built a unique timepiece (a clock), sufficiently accurate on a rocking ship to calculate longitude, the board of experts refused to award him the purse.

Harrison believed that accurate timekeeping (not better astronomical measuring equipment) was the key to the problem.

His clock (which didn't rely on a pendulum) met all of the requirements of the Longitude Prize…

Eventually (a decade later), the Longitude Prize was awarded to Harrison.

Keep Innovating!

Such a disconnect between the 'status quo' and the 'disruptive innovator' occurs over and over again.

When I announced the $10 million Ansari XPRIZE in 1996, many of the "experts" in the aerospace industry explained to me how naive I was... that $10 million would never be enough to motivate a winning solution, and that there was no way a small team could pull it off.

When Musk and Bezos proposed full reusability of their launch vehicle (the holy grail of rocketry, and something that the entire industrial-military complex had not been able to achieve), they were laughed at by many in the field.

I will close this blog with a quote from Henry Ford... I LOVE this quote. Enjoy.

"None of our men are 'experts.' We have most unfortunately found it necessary to get rid of a man as soon as he thinks himself an expert because no one ever considers himself expert if he really knows his job. A man who knows a job sees so much more to be done than he has done, that he is always pressing forward and never gives up an instant of thought to how good and how efficient he is. Thinking always ahead, thinking always of trying to do more, brings a state of mind in which nothing is impossible. The moment one gets into the 'expert' state of mind a great number of things become impossible."

Keep innovating and let's create a world of Abundance.

Interested in Joining Me? (Two options)

1. A360 Executive Mastermind: This is the sort of conversation I explore at my Executive Mastermind group called Abundance 360. The program is highly selective, for 360 abundance and exponentially minded CEOs (running $10M to $10B companies).

If you'd like to be considered, apply here.

Share this with your friends, especially if they are interested in any of the areas outlined above.

2. A360 Digital Mastermind: I've also created a Digital/Online community of bold, abundance-minded entrepreneurs called Abundance 360 Digital (A360D).

A360D is my 'onramp' for exponential entrepreneurs – those who want to get involved and play at a higher level. Click Here to Learn More.

P.S. Every week I send out a "Tech Blog" like this one. If you want to sign up, go to Diamandis.com and sign up for this and Abundance Insider.

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Fwd: 2016 Financials

ASC 718 vs IRC 409a – What Are The Differences? Jane Levin (Corporate Controller at Private) | Jun 26, 2013 What is the difference between IRC 409a and FASB ASC 718? And for a U.S. c-corp do I need to worry about ASC 718? Answers Topic Expert Jim Timmins (Managing Director at Teknos Associates) | May 9, 2011 IRC 409A is a tax regulation, published and enforced by the IRS. ASC 718 (formerly FAS 123R) is an accounting standard published by the FASB and overseen by the public accounting firms (and the SEC, in the case of publicly traded companies). IRC 409A establishes a requirement for the issuance of stock options to employees and others -- a requirement that must be met or the option recipients will be subject to severe tax penalties. This basic requirement is that stock options must be priced at or above the fair market value of the underlying security (that is, the security into which the options are exercisable, usually common stock). IRC 409A then defines methods by which a private company can show that it appropriately determined fair market value (basically, either a "do it yourself" approach for young companies or an independent appraisal for most other companies). ASC 718 lays out the methodology by which the compensation expense for stock options is calculated under GAAP for inclusion in financial statements. ASC 718 utilizes a slightly different standard from IRC 409A (the fair value of the underlying common stock rather than the fair market value), but that difference are immaterial for most purposes. Because there has been little enforcement activity by the IRS around IRC 409A, but most companies have had their ASC 718 work scrutinized by an audit firm, the focus of attention in stock option pricing has shifted from tax compliance to GAAP compliance. The AICPA has published a practice aid (Valuation of Privately-Held-Company Equity Securities Issued as Compensation) that is used by audit firms in their review of valuation reports used to price stock options. Most high quality valuation reports follow this guidance to ensure GAAP compliance -- and tax compliance follows almost automatically in most cases. ASC 718 vs IRC 409a – What Are The Differences? Jane Levin (Corporate Controller at Private) | Jun 26, 2013 What is the difference between IRC 409a and FASB ASC 718? And for a U.S. c-corp do I need to worry about ASC 718? Answers Topic Expert Jim Timmins (Managing Director at Teknos Associates) | May 9, 2011 IRC 409A is a tax regulation, published and enforced by the IRS. ASC 718 (formerly FAS 123R) is an accounting standard published by the FASB and overseen by the public accounting firms (and the SEC, in the case of publicly traded companies). IRC 409A establishes a requirement for the issuance of stock options to employees and others -- a requirement that must be met or the option recipients will be subject to severe tax penalties. This basic requirement is that stock options must be priced at or above the fair market value of the underlying security (that is, the security into which the options are exercisable, usually common stock). IRC 409A then defines methods by which a private company can show that it appropriately determined fair market value (basically, either a "do it yourself" approach for young companies or an independent appraisal for most other companies). ASC 718 lays out the methodology by which the compensation expense for stock options is calculated under GAAP for inclusion in financial statements. ASC 718 utilizes a slightly different standard from IRC 409A (the fair value of the underlying common stock rather than the fair market value), but that difference are immaterial for most purposes. Because there has been little enforcement activity by the IRS around IRC 409A, but most companies have had their ASC 718 work scrutinized by an audit firm, the focus of attention in stock option pricing has shifted from tax compliance to GAAP compliance. The AICPA has published a practice aid (Valuation of Privately-Held-Company Equity Securities Issued as Compensation) that is used by audit firms in their review of valuation reports used to price stock options. Most high quality valuation reports follow this guidance to ensure GAAP compliance -- and tax compliance follows almost automatically in most cases. From: Jim Felter Sent: Friday, May 12, 2017 5:53:58 PM To: Steve Scott Subject: Re: 2016 Financials   check this link https://www.capshare.com/blog/just-how-bad-is-409a-noncompliance-for-a-startup-really/ Just How Bad is 409A Non-Compliance for a Startup, Really ... www.capshare.com In the decade since IRC 409A was enacted, people have debated whether or not startups really need to comply. Valuation firms have emphasized a host of negative ... From: Steve Scott <steve@verthermia.com> Sent: Friday, May 12, 2017 5:39:52 PM To: Jim Felter Subject: Re: 2016 Financials   Thank you for the examples.  Not as bad as I thought, but, pretty sure they don't want to see the issue more than 55% of the tax going to government. Plus, state taxes and SSI, etc. What a pain. For everyone.  Another hard part also for me is letting go any further claims we would have against Ken and party for mismanagement and improper activities. I think those may be off the table with a settlement. Still the likelihood of pursuing additional actions against them is remote.  Steve On Fri, May 12, 2017 12:21 PM, Jim Felter jim@verthermia.com wrote: Well, let's setup phone calls to Jeff, Ken and Roger and make the deal with them on the outstanding balance. I have attached a slide from a presentation showing the negative effect of the 409a tax calculation based on $100,000,  From: Steve Scott <steve@verthermia.com> Sent: Friday, May 12, 2017 1:34:41 PM To: Jim Felter Subject: 2016 Financials   Jim, I need these financials. Time to put in the PPM is now. Steve

Fwd: why UBI works

Will Artificial Intelligence "destroy humanity?"... probably not. But I am concerned that A.I. and Robotics will massively impact the future of work. McKinsey & Co. predicts that 45 percent of jobs today will be automated out of existence in only 20 years. This weighs on me. While the magnitude of the coming change doesn't bother me, it is the speed of the change I'm worried about. (NOTE: We've seen such change before. America went from a society of farmers (84% in 1810), to only 2% farmers today). This is a blog about one mechanism to buffer the impact of rapid "Technological Unemployment." In this blog I'll make the case for Universal Basic Income and unpack some of the common misconceptions of giving money away for free. Eradicating Poverty Today there are 700 million people around the world living in extreme poverty (defined by the World Bank as $1.25/day (in 2005 prices)). According the to Brookings Institute, just $80 billion would lift ALL of them out of extreme poverty. We spend twice this amount in global aid every year – if only we could give the funds directly to the people who need it most. In a recent Abundance 360 webinar, I interviewed Michael Faye, the co-founder of GiveDirectly, who presented some compelling data about the disruption of philanthropy through peer-to-peer aid. Let's dive in. What is GiveDirectly? GiveDirectly is the largest UBI experiment to date. Over the next 12 years, GiveDirectly is running a controlled trial across 4 villages in Kenya, with more than 26,000 participants. In addition to a control group, one village will receive a regular basic income for 12 years, another for 2 years, and yet another will receive a single lump sum equivalent to 2 year's worth of income. Within each village, everyone -- man, woman and child -- receives the same equal payment of roughly 75 cents per day regardless of their current wealth. Incredibly, since launching the experiment in 2012, GiveDirected has distributed more than $100 million in total donations for people in extreme poverty. The data they are accumulating on the efficacy of UBI is incredible. Here are the top 3 takeaways from our conversation: 1. Philanthropy is ripe for disruption. Most of today's billion-dollar non-profits and NGO are incredibly inefficient and bureaucratic. Michael estimates only about "15 - 20% of donations" actually get to recipients, adding that in many cases "the current system is so complex that many of the agencies themselves don't know the actual number." Many programs and donations are in-kind items, such as foods, which are often resold at a discount because the recipients simply don't want them. By giving cash instead of goods, combined with its mobile-enabled technology stack, GiveDirectly flips that ratio. For every dollar, 90 cents ends up in the hand of the recipient. 2. Directly giving cash has counter-intuitive positive byproducts. As a society we underestimate the ability of the poor to make decisions in their best interest. We want to prescribe who gets what, how much, and under what conditions. For example, Michael asks, "If you ask a child whether they'd prefer to give a poor person a cow, or give them money?" They typically respond that its better to give a cow. It feels better." We are also hesitant to give cash for fear that it will lead to increased substance abuse, or lead to laziness. However well documented studies consistently show that cash transfers: Tend to cause a decline in the purchase of alcohol or tobacco; and Tend to lead to an increase in the hours worked. For example, in Sri Lanka, a study of one-time transfers found that men's annual income had increased by 64-96% of the grant amount after five years. In Uganda, 4 years after a small one-time donation, recipients were earning 41% more than those who had not received the donation. 3. Cash Transfers Lead to Better Health & Social Outcomes. Looking at over 160 studies across 30 countries and 56 cash transfer programs, the Overseas Development Institute recently performed a meta analysis, finding positive results across areas such as education, health and nutrition, savings and investment, and employment. Specific to health, studies have found: Large increases in children's height and weight in South Africa Reductions in HIV infections and psychological distress in Malawi Reductions in low-birth weight in Uruguay, and Reductions in child labor as well as increases in childhood schooling. Decreases in domestic violence. My Closing Thoughts Technological unemployment is coming fast and it has the potential to lead to significant social unrest. We need to be proposing and running experiments to validate solutions that work across geographies, cultures and at scale. UBI is one idea. I salute the passionate entrepreneurs who are launching experiments to uncover their solutions. What will you do to make an impact? We have the raw materials to create a world of abundance. Let's get to work. Interested in Joining Me? (two options) ... 1. A360 Executive Mastermind: This is the sort of conversation I explore at my Executive Mastermind group called Abundance 360. The program is highly selective, for 360 abundance and exponentially minded CEOs (running $10M to $10B companies). If you'd like to be considered, apply here. Share this with your friends, especially if they are interested in any of the areas outlined above. 2. A360 Digital Mastermind: I've also created a Digital/Online community of bold, abundance-minded entrepreneurs called Abundance 360 Digital (A360D). A360D is my 'onramp' for exponential entrepreneurs – those who want to get involved and play at a higher level. Click Here to Learn More. P.S. Every week I send out a "Tech Blog" like this one. If you want to sign up, go to Diamandis.com and sign up for this and Abundance Insider. If you wish to stop receiving our emails or change your subscription options, please Manage Your Subscription PHD Ventures , 800 Corporate Pointe, Suite 350, Culver City, CA 90230

Fwd: A New Trend in the Board Rooms - Trend # 4

May 2017 - Issue #108 - Is Your Board "Risk Smart"? May 2017  -  Issue #108 Board of Directors NEWSLETTER A free publication Published by:  Erich Stolz - CEO, CFO, Board Director Email: Erich.Stolz@BoardDirector.net A new Trend in the Board Rooms: Trend # 4:  Is Your Board "Risk Smart"?    Boards are under increasing pressure to oversee risks and perform an outstanding job in risk governance. Many boards are scratching their heads and trying to figure out which approach to an effective risk oversight and risk governance works well. Executives and Management are ultimately responsible for exercising prudent care to keep the risks at bay. However, the Board of Directors is responsible to make sure that proper controls, rules, procedures, policies, and monitoring tasks are in place.    The key questions are: What are boards doing about it?    How can boards become "Risk Smart"?    More and more boards have established a board-level risk committee. You'll find those risk committees more often in large public corporations. However, the trend of establishing a risk committee can now be found in mid-size and privately held companies. This trend is now gaining momentum in other, less regulated industries. In just a few years from now, I would bet that you'll find a risk committee in the majority of companies and organizations – regardless of its size and market.    Why is this trend noteworthy? Why is this so important to the readers of this newsletter? Why should board members and executives look into this trend deeper? The answer is rather simple: Boards are charged with the responsibility of overseeing the various risks as effectively as possible. The difficulty and intricacy to properly oversee the various risks are growing constantly and have never been greater. How can the board become "Risk Smart"?    Based on my experience and observations at various boards, there are six distinctive actions and tasks that can increase the "Risk Smartness" and the prudent governance approach: Clearly define the board's role for overseeing the company's risk The most important elements of the board's risk oversight role: Formation and configuration of the risk governance Oversight and observe the risk management process Partnership and cooperation with the CEO and executive team to clearly understand everyone's roles and responsibilities of certain critical risks    2.  Create and cultivate a "Risk Smart" culture The most important components of a "Risk Smart" culture: Clearly identify and assign accountability and responsibilities Policies and procedures are in place that clearly describe what risk factors need to be communicated and reported to the appropriate people Let the employees question or challenge the organization whenever they have a legitimate concern risks The organization has a specific set of rules that support the values and conviction of the organization, and all employees clearly identify themselves with and follow those rules The organization continuously educates and trains its employees with an appropriate set of skills, know-how, and risk aptitude      3. Recognize the risk appetite of the organization and create a tailored approval process        The important parts of a risk appetite and approval process are: Determine how much of a risk the organization is willing and able to take Differentiate if a risk is quantitative or more qualitative Only the board can approve a major risk – it is a board's decision and beyond the CEO's authority It is important for the board to connect the risk factors to the company's strategy Once a risk is approved by the board, the executive team communicates that decision throughout the company The executive team should continuously keep an eye on any company's exposure. The executive team can make certain adjustments and changes to some policies and procedures but must report those modifications to the board Depending on the culture and nature of the business, some companies are risk takers while others are risk adverse       4.  The board assist and aids the executive team to incorporate risk thinking into their strategy      One of the most important tasks of the board is to advice the executive team about the alignment of the strategy with the company's mission, vision, specific milestones, and risk factors The board provides essential leadership in the strategic planning process The board can bring significant value to the table by providing an expanded perspective and experience on certain strategic risk factors – actual losses as well as faded away opportunities The board can challenge the executive team's overly optimistic views of the future The board can sometimes "peek around the corner" by clearly grasping any potential disruptions or newly created risks which the executive team may have overlooked      5.  Evaluate the development and advancement of the risk governance method     Regular assessment can help boards determine whether it is receiving the quality and the quantity of information to carry out its role. What is the secret key for an effective assessment? Asking the right questions and compare if the current risk governance is still working properly. For instance: Has the executive team passed on certain risk issues to the risk committee? Is the entire board informed about certain risk issues – whether new issues or ongoing issues? Does the executive team clearly identify certain risks, accompanying assumptions, and alternative solutions – and discuss those steps with the risk committee and / or with the entire board? Is the board being informed on a timely fashion when risks arise? How does the executive team monitor and recognize new upcoming and developing risks? Is there an agreement with the board when the executive team should take action?      6.  Make certain that the company discloses all noteworthy risks to its stakeholders    The organization should do more than just satisfy the boilerplate requirements as set by the SEC disclosure rules. The higher the quality of information published and how the company drives risk monitoring in all important decisions, the better. Since there is no specific rule set by the SEC of how the process of good governance is supposed to work, the company has an opportunity to being more attractive to shareholders by clearly communicating what type of risk management and risk oversight is in place. The board has an opportunity to grow its risk-related oversight tasks by distributing the risk-related responsibilities among various committees, not only the newly established risk-committee. The creation of a risk management team can certainly enhance the work of the newly established risk-committee. The board can provide much more than boilerplate and "legalese". The board can add value by providing thoughtful descriptions and some specific quantitative analysis. The board can provide visibility of how the risk management and risk oversight actually function at the company along with a short presentation of the board processes. Gain credibility and trust in the eyes of shareholders and prospective investors by disclosing how well the board and executive team has kept many risks at bay and even reduced certain risks.   The trend of continuously rising risks can have a serious effect on any organization. That's why the role of the risk smart board is extremely important and valuable. By having a strong and also a forward-thinking base in place – risk oversight, risk smart culture, risk appetite, alignment of strategy and risks, continuously evaluating the risk oversight process, and disclosure to the investors - boards can help make the company more attractive to shareholders.    I hope that these insights can be useful to your board and company as a guide toward a "Risk Smart" organization. For any comments or questions, please contact me. Erich Stolz 18 years Board Experience at various companies and industries. Served on Audit, Compensation, Governance, and Strategy Committees. I can be reached at 832-372-5419 or Erich.Stolz@BoardDirector.net Erich Stolz | 515 Post Oak Blvd., Suite 700, Houston, TX 77027 Phone 832-372-5419 Unsubscribe stevescott@techacq.com Update Profile | About our service provider Sent by erich.stolz@boarddirector.net in collaboration with Try it free today