YouSaid · the spoken record

Brad Bao

lines on the record: 31
first: 2019-06-14
most recent: 2019-06-14
sittings or episodes: 1
sources: podcast

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“And I cannot wait to see that vision achieved too. Pleasure is all mine. Thank you for having me here, Harry. To say, it was so much fun having Brad on the show.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Wouldn't measure it. And on top of that, of course, we hope that with better services and product we offer that will keep us the leading company globally for the urban mobility. And the brand will be recognized very well in terms of the value safeties and product experience that we represent. But first and foremost, the thing I wanted to see in five years is there is a movement. The movement of the awareness and proactiveness of the users that either they use our service or not, they well support it. They will support and be part of the movement that we all contribute, make our cities healthy, make our cities less congested, and make our cities that are more livable and the push for that common goal going forward. Brand, as I said, I had so many great things from so many of your investors. I've so enjoyed stay. So thank you so much for joining me.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“A UK user or Australia user hey, come to the US and use our service. Well, that's just not a right way to approach it. I do want to finish a state, Brad, on a final question being, what's the next five years for you and for Lime just how big could this get? Yeah, I think in terms of big that the way I think about it is by how many users will be benefiting from it. So measurement for me is how much time we say for the user how much money we say for the user, how much pollutions we reduce and how much traffic congestions that we cut. So that is the goal we have. And for five years, what I really hope is for the cities that we're operating in, that we may not be able to counter traffic by 50% yet, but at least that we can lift it from 1% today to, you know, 20, 30% of that of the car traffic in the city are on alternative transportations. So that's the way I”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“To make going global, or was it very obvious? To me, it's very obvious to many that we as a young company is what we did, right? We launched the bikes and we didn't focus on that, well, you know, focus with a quotation mark. We didn't focus on that. We then launched an e-bikes and we didn't focus on that. We launched the scooters, right? And market expansion, we started with US, you know, rapidly expanding into global market and consider as maybe to some that is not focused. That's what I disagreed. I agree with the focus, but I disagree that focus should be on a certain geo or certain product. What we focus on is user, is what user need. We'll focus on that. They want to buy good tickets, give them the bike, they want scooter, we'll give them scooters. We focus on the user where they are. If they are, they are distributed globally, as we all know, that's true, then we'll go global. We'll meet them there. There's no way I can ask.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“There are lots. I'll give two. One of that when we start a company, the Abolvin Formula, which is an uncommon common practice to get into the city, well, you know, Uber established it, right? Just go to the city, you launch the service and talk about it with the city after that. And we just deliberately didn't do that. That was the advice we got at the time. And the second thing that I would say I always hear that advice is to be focused. But then first of all, I 100% completely agree with the advisor focus. But I think more than often that we have to make a very independent judgment that what does focus mean or what do we focus on? If the focus is that we as a young company, we should we go global in less than two years, which we did. Should we just focus on the US market? So we went global, right? It seems like an odd focus.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“I wish I could have known how complex and hard the business is. Everyone look at it, just say, hey, put a school down the street, you got a business. Well, you're wrong. And I was wrong too. It's so hard. Positive, absolutely positive.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“I want to say that first off, all right, that we've got a bunch of meetings. So my day started roughly about eight. Normally I will check the emails in the morning to make sure that any important topics got covered and I will have a series of meetings, I would say 60, 70% internally and then 20, 30 percent externally for investors, medias, all that. And internal meeting is more about setting the goals and align the team. And then the meeting goes all the way through five, six p.m. and I will have 30 minutes for a quick dinner and then goes on with my team in China and some APAC regions. And that goes on to roughly about 11 p.m. Then I start to check the email and I'll go to sleep at two. I've been doing this for 15 20 years now. So it's not like new to me.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Mentor when he was in the business school. That helps significantly. And then when I co-founded my venture fund, me and my partner, who is in China, we also have the similar level of trust, right? We're so far away. We're six, some miles away from each other, and we yet need to rely on each other to make decisions that will put tens of millions into a company. So I think that trust based on common value and also the meaningful connections via other aspects is very, very important.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think there are two things make it very unique. The first of all is long history of trust relationship. The trust relationship we build over the course of like eight, nine years before we start a company that really, really helps and the trust relationship is built upon the common values, right? That if we don't share the same value, we'll never be trust to each other. And there is a saying that I like a lot. If you don't want to partner with someone for the life, better not to partner with him or her for even a single day. And that's the principle that I hold as well. If there's no trust in between, there's always second agenda guesses, whole bags, and all that, you better just better off not to partner at all. So I had a series of partners in the class of my career, right? I partner with Tobion, working on this. He used to work in my venture fund for about four years before that. And we know each other as alumni and awards.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Are not playing as a team, they may not even beat a second tier team. To have the strongest player to play together cohesively and collaboratively is the harder part instead of like, you know, there's a breaking point or not. So that part is we constantly look out for things to see whether there's not enough alignment.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there's a lot along the way. We're human, that we have to respect the humility of everyone. Humility means good and bad. They all come together, right? And also the more experience one person has, the stronger the preference and egos and opinions it comes with it. So I think for us, it's really not about breaking point that we're talking about. It's more about alignment. We have the executive team as well as the rest of team came in coming from different backgrounds and have different set of opinions and ways of doing things. So how we align them together was the biggest challenge. And also for me that I spent quite a bit of time on that. And the analogy I use with my team is that you could have a team of really strong players, right? That just like a basketball player, you can have all the best players on the court together.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“The opportunity to build that team over the course of 12 months and keep on running it. I think that's a healthy balance.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“I think from two sides of the story, right? For the company is earlier, the better. So you bring in the very unique set of experience as well as opinions. That's very valuable. Meanwhile, the question more than often for a startup is different from a mature market. The question is when I am ready to attract great talents, they need a good platform, they need the clear ownership, and they need a scope. So if we're not ready to attract that, that will be really not the right time. But if we attract them or bring them on too late, that will not benefit the most from their experiences. So for us, the way I look at it is that just imagine that a talent or an executive that imagine the team, he or she will be managing 12 months from now. So therefore, that you bring them on 12 months earlier and give”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“And they are then retained by the common values we share. So I think that is incredibly powerful. And using the Moslow's, what is called hierarchy of these, right? They're on a higher hierarchy of the need. And I think at this point, it's not just about making some quick bucks. It's about how we as humans can make it possible impact in the societies and in the world we live in.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Vision and value. That is the key thing. When we look at the world class players that they have a lot of options, right? They have achieved a lot in their career in life. They have been accumulating experience and personal networks and trust and reputations and everything. So for all of my executive team members, that pretty much none of them really is like work for money type of person anymore, right? So for them, it's really about sharing the similar values as we do and also seeing the same vision and passion about the impact it will make. So LIME as a company where mission driven for profit company. So this two actually can work out really well together hand in hand. And I think the executive team, they are attracted by the vision to making our world cleaner, greener, healthier, and much more lovable in the future of city.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Actually, it's Morena in the hardware business, there's always a saying, right, that you can have all the advanced features and better user experience, or you can have the longest durability in terms of how long it lasts, or you can have lowest cost. But you cannot have three at a time. You can have two. So make your pick. You pick two, you combine them together, and that's a product you will be aiming at, right? So we're trying to solve three things at the same time. And that's a very challenging product management as well as the supply chain management issue that we have to deal with on a daily basis.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Our peers catch up. And in the next few years, I think we have a long list of things that's coming that it will take a really long time to develop all the product features that we really wanted to provide to our users. If we use automobile industry as a predicate that it takes the whole industry literally 100 to 200 years to perfect the car. I don't see a reason that the scooter or the bikes or e-bikes that will be much shorter than that.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, totally. SDO, one of the things we are doing very different from our peers is that we started building our hardware team and doing the vertical integration started day one. And what it enabled us to do is in the last 12 months also that we released four major versions of the vehicles and one generation after generation that we improved on the hardware itself based on the feedback we got. So full version of hardware, think about that. We have changed the way entire way of how we using digital feedback loop and design and also manufacture and testing them. And that gives us a really competitive edge and we'll keep on doing that or however it takes. And it's really difficult on many different fronts in order to enable that. So we yet just”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“For me, of how line gets to profitability. First of all, right? We already have dozens of markets of profitable. So it's not how we or weather is already. So that, I think, give you the good picture. We'll further enhance on the hardware software as well as operations to further enhance the profitability side of things. But we're partially there. Klaus, what's the biggest determinant? Is it the maturity of the city? Is it the density of the city? What's the biggest determinant that you found? We actually found it really the contrary that what we found is there are all sorts of cities that could be profitable and many of them are. It's a big range of like smaller cities, big cities, dense city or not, colder weather, warm weather. And it's just a combination of maturity of the city is, density, of course, and as well as the layout of the city. There are cities has better infrastructures and better cultures towards alternative transportations. And there are also, you know,”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“That's what it matters. It doesn't really matter about whether it's a small company or big company or whether located. It matters to the user is the service level. Absolutely. That is the core. I do have to ask, do you think we'll see consolidation amongst the smaller players? And is that a thought for you, do you think, moving forward? It's too early in the industry to say that what could happen, but I would say though, some of the learning we have from the history that there might be some form of consolidation, but majority of them that it will be just the smaller ones will be having a hard time to even survive. It's a very complex business. It absolutely is. And hearing you discuss what it takes to launch a new city, I absolutely heard that just from the short sentence. I do have to ask, because the other area where maybe as I'm sure you know there are some skeptics around is the unity economics of Lyme's model. Can I ask, because you're an incredible team and you have an incredible set of investors. So can you paint a picture?”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“One that fascinates me is how do you think about launching new cities and what does it take to win, Brad? Yeah, I think launching new cities are a rather long process per se that they are getting the regulation ready, getting the permit, logistic imports, exports, warehouses, trainings, parts, and this all kinds of things involved to launch a fiscal asset business into a city. So that part is not easy. But meanwhile, that I think when it comes to the local markets, I think there are always the benefit of being a global brand, right? That accessibility, the network effect, wherever you go is one of the key things for a mobility service. And the second part, I would say, when it comes to the data, the know-how that we generated from over 100 markets across the globe that really help us to be a better company to provide better services products. At the end of the day,”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“And the safety and everything that a brand presets. So I think that's that. And we've seen some of the metrics of supporting that. There are many markets that we are half of the fleet that we have way more than half of the market share that are representing it. Meanwhile, I think the overall, as I mentioned, the penetration rate of vehicles in the city is still very, very low. And that means at any given point there are chances that the user wanted to use a scooter, but light is not available. So, you know, the idea, I'm glad there are some other peers that are providing service when we are not available. And I'm glad that there are services to the user at a time. And again, that's good for the industry overall. Absolutely, it is. But you mentioned the multiple markets there, and I am super interested because Lime's now a global business, but there are also global competitors in Europe and Latin America with HQs in those locations.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“I know that when it comes to a lot of competitions, there are folks who will be exclusively focusing on competition. But I think that's the wrong thing to do. And we at Lib, we just never do that. No, we are going to discuss the innovation that expands that market to be on 1%. In terms of the 1%, I am fascinated in terms of this market. Do you see it as a market where there is inherent customer loyalty between provider or do you see it more as a kind of transactional usage, which is use multiple providers? Yeah, I think there are two aspects to it. First is there's always customer loyalty on a large, broader view of things, right? That user has loyalty to water. That's probably the most non-differentiated product, right? That when you reach out a role of different water brands, you will reach out to brand that you like. I think loyalty is always there, but the loyalty should be based on quality of the product and service.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Environment are less than two miles, which means that we're not even close to penetration in the market. And if we turn our eyes to cities like Copenhagen or Amsterdam, we know that the other traffic pattern there is 50% of the traffics are on bikes and alternatives. So instead of consider too much, we're fighting for what percentage I got out of that 1% today. I think it's very critical for us to think more broadly and also long term is how we push that 1% to 50%. In the journey of doing that, there are a lot of education needs to be done, a lot of innovation needs to be done in order to enable that, right? So the more, the better that we are together push for better regulations, better innovations, and better infrastructures. We're together educate the user about the new options for them and the benefit of it. That's the way I see it.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Large school of shares everywhere in the world, which to me is a really positive thing for two reasons. First, that is really simple. It's a further validation of the sector that we're working on, as well as the innovations we're doing. And the second part that I think this is the most important part, the market is so huge that it's not about competition at all. It's really about how we're making the pie bigger. If we're taking some metrics into perspective, even with the growth of lime and with all the other peers that are pushing forward more greener and healthier and more energy efficient ways to travel in the city, we're talking about less than 1% or even much less than 1% of the total traffic are on this type of alternative transportation, whileas about 50% of all the trips in”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“How do you view the landscape Yeah, I think for any industry given how fast lime grows as be a global leader in the school sharing bike share business, that we are a company that's two years and five months old, but we're already operating in 25 plus countries and over 100 markets across the world. And the revenue and trips that we're generating, probably one of the fast ever in terms of a company, plus on top of that, as I mentioned, that we don't spend marketing dollars. It's organic growth. And we also be very proud of that the product iterations we've done, the users positive reaction to it and the pollutions and traffic congestions that we reduce. So given the growth that we have, and I think it's very easy to see there many folks wanted to be part of it as well, right, to rush into the market and also”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“A service versus the paid marketings. And same applies to what we call an emotional touch. In addition to any utilities that a product should produce, that we also emphasize on what kind of positive emotion that we can generate it. You can use a mobility option to get from A to B, but also it's equally important our users enjoying that journey. You can jump on a really dirty and sometimes scary bus to get from A to B or they can be on a scooter or bike that are smiling all the way and feel the freedom of it.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, yeah, quite a bit, a lot. So tensor is still one of the most respectful technology company in the world, in my mind. There are many companies in the world, there are not many that have achieved so far as well as building a really positive culture and impact. So I'll give you a few example tangible examples. At Tenson that we focus so much on user experience, and that's all it's about, right? We're here to serve the users. what we created need to be perceived by the user and we don't do marketings as you could imagine you know as lime got we don't spend a penny on user acquisitions and that's a reflection of learning and also culture that he heard from the tens of days that we believe the best product is the best marketing itself to acquire users and have the user engage with”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“How we can leverage technology to make positive impact in the real world we live in until the moment that we all live in the cloud, meaning not cloud cloud, but be virtualized, we still live in this beautiful world and technology should do more positive things. And Lime is a brainchild out of that, right? When we look around, that how we can leverage technology to make that impact. And mobility is one of the thing that came to our mind first.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, Isaac D, throughout my life that I found my biggest passion is to build things, build companies, build team, build culture, and build things that matter and make an impact. So at TenCent, that kind of was an entrepreneur to start with. I was the first employee for Tencent outside of China and built all the international strategy, practice, and team. I was there for over eight years. And then I built the VC fund that I was working at. I will co-found it with my partner back in late 2013. And Lyme is not a surprise. And I built it. The aha moment was we were questioned quite a bit as a technology or internet company in particular, whether it's making a positive impact or it's taking away our time from engaging with the real world as well as our friends and families, communities and neighborhoods. And that triggers the passion for me to think about.”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source
“It is such a pleasure to have you on the show today. I've heard so many great things, both from Brendan at Fith Wool and from Sarah at Baines. So thank you so much for joining me today, Brad. Oh, my pleasure. Thank you for having me. Not at all. but I'd love to kick off today with a little bit about you. So tell me, how did you make your way?”
2019-06-14 · The Twenty Minute VC · 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date · IDENTIFIED FROM THE TRANSCRIPT · source