YouSaid · the spoken record

Caryn Seidman-Becker

lines on the record: 106
first: 2025-07-08
most recent: 2025-07-08
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“I think that we have not moved fast enough on innovation in this country. We need reasons and pushes to move faster to drive private sector innovation and private sector capital. I think it aligns with the needs right now. And I think that those will really create opportunities for great companies.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think the World Cup is a real forcing function for our country, and it's only one year away. It was in Doha last time, Middle East, I think the opportunity to bring it to the cities in the US, major cities in the U.S., LA, New York, Atlanta, Miami, is huge. That creates a real need in travel. It creates a real need in sports stadiums and ticketing to make experiences safer and easier. I think we want to be a showcase for the world on what we can do, how we can entertain, how we can drive security for the World Cup. Then two years later, it's the Olympics in LA, which just had these incredible fires. And so how we drive mobility and security and hospitality in LA for the Olympics, I do not think is any easy feat. I think it will require real leadership and innovation. And I think those are forcing functions. You need forcing functions to galvanize people say we got to make it by this date, not to mention the 250th birthday of the United States, which comes at the same time.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I would say two making Clear's vision a reality with awesome team members. We're spending a lot of time on enterprise leadership and one team, one dream. And that is very energizing. Working with really smart, dedicated, motivated, high integrity, creative people who all come together with different skill sets. I think that's awesome. And then I get excited on the art of the possible with travel because I think travel is going to continue to boom and we are really going to start to unlock innovation to transform it. And on enterprise identity, I think the way you apply for a job. And the fact that then I can be open to doing other things. I don't have to be sending the emails and talking to the guy about his grandmother. I can do more.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think the world is safer and more frictionless for consumers and for enterprises. We should have triple digit members on the platform using it for various use cases that contextual identity is really powerful. And identity with depth, what we call total identity integrity, is unlocking all sorts of experiences and that you could actually leave your home with nothing, not even a phone, and be able to really transact in the world that makes companies more compliant. It makes costs more efficient. It drives automation. It reduces stress. It delights people and everyone is more productive. I think so much of what we have in this world is because we don't trust each other. I think identity is about building trust physically and digitally, both in the US and outside the US, for clear.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Probably the fact that he still lives in that house and he was just in his backyard, his grandchild was in the house. The stories that he would tell, the crispness of his mind, his humor and his humility for someone with that kind of storied success, he signed his almanac. I think it was his humility and his curiosity. Like, tell me about your company. Tell me about what you think biometrics can do. Can the margins be? What's the total market? Could it go global? He was just grounded in basics and he was funny. I felt lucky.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I had the pleasure of sitting with Charlie Munger two years ago in his backyard mesmerizing. I believe that that is how you create long-term value.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Sometimes I'm surprised at the lack of big picture questions. We're right here. The long term's made up of a bunch of near terms, but I feel like you would want to understand the long term to understand how the near term fits into it. There's a lack of questions on free cash flow and how we spend the free cash flow. I don't even know that one looks at the cash on the balance sheet. People tell me that I wouldn't understand how people invest today because there's all these pods and quants and that wasn't there when I left 15 years ago. So I was a value-oriented investor, which means different businesses have different return and growth characteristics and should be valued accordingly. That's how I looked at it. So I thought Apple, when we bought it for $14 with, I think $9 shared cash on the balance sheet was a value stock and the street thought they could earn 60 cents and I thought they could earn a dollar. And then from there, here's where we go. Apparently that doesn't happen as much. But I still think that long-term value-oriented investing is the thing that yields the greatest.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Not be afraid to be contrarian to look to the future. His vision on companies like Amazon were really incredible so he could see the future. He could talk about it. He could understand how that was going to play out in the financials. Again, going back to the qualitative and the quantitative little story, which is Bill bought the name Ariance from me for a dollar after we closed it. He loved it and he bought it. He named his Bodit. So sometimes I think people see this beautiful yacht sailing around the Mediterranean and think it's mine because it's Aryan, which is fine to not be afraid to buy load, to stay with your conviction and dollar costs averaged down builds a philosophy major, as is my daughter. She's a history and philosophy major. She brings a lot of history and philosophy to investing. And I think it's both incredibly interesting and very relevant.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a great question, and something, quite frankly, we're in the midst of. We have a new chief product and experience officer who actually joined us. She was head of trust and safety at Airbnb. We are rolling on our product roadmap right now because we've changed the foundation of our technology and have the capability to launch more products in a more flexible and expedited way. We were stymied over the past few years on doing what we wanted to do, but we've also changed our internal foundation in order to do it more quickly.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“What have you done for me lately? And so living in that world, you have to be launching features and products. You have to have an accelerated product roadmap. You have to talk about it. Uber and Airbnb have done a really good job of having two launch points a year to talk about their products and innovation, which sort of put it out there. Somebody was saying the other day, the heavenly bed that I think the Weston did, they did some event in Times Square and it was a big deal. They said we have better beds in some of our hotels, but we didn't tell anybody. got to capture people's attention and you've got to surprise and delight them and you also have to apologize when you do wrong and make it right.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I also think you live in a consumer world of what have you done for me lately? I used to say with Nike, they changed the game. Like, there used to be one sneaker every, I don't know, year. And then they started speeding up innovation. And it was like, what's the new sneaker? Consumers want to be surprised and delighted.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Again, the test was free. All you have to do is spit. Not hard. Save your life. Save your kids' life. Really freaking hard. Inertia is really a tough thing to overcome. So trying to incent people to move and to do things takes a little bit of time. You got to cut through the noise. I do think having humans bring it to life like we did with our ambassadors. Word of mouth is powerful. But also, it's a fragile world we live in. So a fund manager used to say it's the staircase up in the elevator down. We've experienced that. Somebody tweets something negative. It's one person's opinion in a moment in time goes viral and that's the story. It's fragile. I could do a better job of sharing our story and telling our story and humanizing our story. I certainly think we have opportunities on that. It is hard and it is fragile.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Experienced more than my fair share, and I have gratitude and optimism. And I also think when you see the other side, this is it. So live your best life and make a difference for others and pay it forward. Be a changemaker. I don't know any other way and I don't understand others who don't.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I know no other way. My kids don't get it happily, they're all sort of wired like me and Mark. Life is for the living. This is a great country. I have a lot of gratitude. I didn't start with much of anything. My first job, my salary was $24,000 a year. My sister was fedexing me cash because I didn't have enough to pay my bills. So I don't know any other way. I used to watch the last lecture by Randy Pausch and we talked about Tigger and Eeyore. And one of my anniversaries, my husband bought me a Tigger stuffed animal. Energy, positivity, vtigger. Who wants to be around the? Life is full of challenges. Life is full of disappointments.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“are motivated by very different things and you have to understand their motivation and their incentives than where they fit in the organization. You don't want everyone like me conceptually.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Not an MBA, right? I'm attracted to people who have humble beginnings, who have overcome adversity, who don't fear failure, who want to be a team player, who are straight shooter and non-bureaucratic. Clear is the biggest company I've ever worked at hiring those people, great success, but I need to work on my bias of everyone wants to do it my way. Also, I'm on the Home Depot board and I have learned so much about growing people internally from Home Depot, incredible leaders and incredible company. They grow people internally in the most magnificent way. They take talent development really seriously. And so I've learned a lot from that. We have great success stories of clear people who have been here eight and 10 years on a 15-year-old company started when one place have had five different jobs and are significant leaders at Clear. And so I love those stories.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Course, I have three kids and I show up at the field trip, and I don't miss a soccer game at a birthday party, but I'm also sending emails at 2 a.m. So, of course, you can make it all happen. Want to, you just want to run and you're curious, and it's not just a job, it's a way of life. And I'm often disappointed and I go in with that bias and I don't ask the right questions because I go in with this positive bias that you want to live it and you want to do it and a customer says jump and you say how high. I'm not right. And that is consistently disappointing to me. And so I'm working on that. I do like Ace Greenberg at Bear Stearns, so poor, smart, hungry, whatever his saying was.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Is massive. I do think it changes radiology. I do think it changes clinical trials. I do think it changes drug delivery. I do hope it helps cure cancer in the next 10 years and makes a big difference in our society. There's a good place for humans, but all humans should be using AI. I remember when I started on Wall Street, they didn't want to use email. We were still getting faxes because they were worried about security. You got to be thoughtful to it all.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Also, to know that through these periods of change, there's a lot of noise in the world there was in the internet. So keeping your feet on the ground, staying really smart and really curious and really paranoid, putting it to work quickly on some low-hanging fruit where it can help you being not afraid to test and learn and shut it down and pivot. That is a whole orchestration as well. But also to understand for us that in a world of AI and synthetic identities, true identity is more important than ever. The fact that we have witnessed identities, we've seen people at the airport, we know that you're a real human actually creates a lot of power for clear. It's all of that. It's understanding the risks and the opportunities. It's putting it to work. It's testing. We have some really interesting meetings today. It's bringing in lots of people to keep learning and staying ahead of it, but also to keep the noise in perspective from a healthcare perspective. I think it's...”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“That knowledge that you could be destroyed by it is really important because you've watched companies be destroyed by it. We used to say to Kodak, are you worried about digital? And they were like, oh no. I was like, really? And that was a great company. Their logos everywhere. And so to know that you could be destroyed by it, I think is really important to get real curious on it and continue to learn trying to learn every day.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I vote for the Michigan Daily, but I never quite got to football. I was more on the club soccer and volleyball. The power of a team, the joy of winning as a team, I marvel when somebody screws up. I actually couldn't watch the end of the next game last night and they just help each other up. They cheer each other on aspire to do that as a leader. They're tough and they're dedicated. They're creative. They're non conformist. Those are the leaders that I like. And I think if you look at Breen and Jeff Boyd, Bob Mylod and Jeff Bezos and Steve Jobs and a bunch of other leaders, they're all very different. I don't think there's a cookie cutter way to be a leader, but I think it's authenticity and humility and big thinking and discipline and the 5 a.m. thing. I love it all. And I love that each one is different in what makes them tick.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I do love energy, positive, big, daring energy. I love leaders who also can take that energy, stay quiet in a room, and empower others to speak. When you went to Amazon or when you went to Apple back then. Were other incredible leaders who would share their stories. Ron Johnson was running the stores at Apple. When he spoke, he was the man. You felt like, God, there's so many big brains around the table, the power of a team. I love sports. I used to want to be a sports reporter. I thought Brent Musberger was all that.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Two things. It is the morning and night prayer that we do with our kids. Mark led the way on that the best way to sort of ground ourselves in the morning and to help go to bed in the evening. The other thing is Shabbat dinner, bringing people together on Fridays for Shabbat. When I grew up, it wasn't that much fun. It was like the four of us at a table. But we have lots of people and lots of fun and flowing wine and we do high lows and act of kindness so everyone goes around the table and talks about the best part of their week, the worst part of their week and something nice that they did. Some people call it happy crappie. That's been a great way to get our kids to talk, to share our own vulnerabilities with each other when my husband died. Our friends all created a sign up and everyone hosted at Shabbat. And it held my family up.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“So, really figuring out ways that people can save their children, save themselves, early intervention, genetic screening is so important not just for cancer, but for other things. I don't think ignorance is bliss. I think people think it can't happen to them. And I understand that feeling. I used to look at people who lost Owen and be like, oh, that is so sad. They lost someone. And now my kids and I laugh. That's us. People look at us that way. And we don't want to be victims. We want to be changemakers.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“20 or so have been turned in. Only 25% of the tests that were taken have been turned in. Of those 320 and change, seven of them are positive, which means that 2.5% is actually there. And of those seven that were turned in, then somebody had their sister tested and she was positive. Somebody had their kids tested. And they were positive because you have a 50% chance of passing on the Broca mutation if you have it. Right now, I think the count is 10 or 11 people who will be proactive in their health screening and can hopefully avoid cancer or get it really early, which is the name of the game. But for the thousand people who didn't turn it in, we made a video, including my son. I thought, well, if they see an incredible kid without a dad, they'll be motivated. Her rabbi has spoken about it, but to think that a thousand people took it, $250,000 of capital that went into it, and that they don't want to know after that 2.5% that means that 25 people have it and haven't done anything about it. That's devastating.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Know that if you are genetically screened early, you can monitor it. You can be on top of it. There's all sorts of things you can do. It significantly raises a woman's chance of ovarian cancer and breast cancer, skin cancer, pancreatic cancer, and for men prostate cancer. Mark Stad had prostate cancer 17 years ago, maybe more than that, but nobody bothered to test him for Braca. Our family is on a real mission with our warrior Mensch Foundation in honor of my husband and his legacy to get the word out on genetic screening. We bought 2,000 kits for our synagogue thinking if we just give them to you, you'll go home. All you have to do is spit and send it in. Easy. And so we bought 2,1300 were picked up for the high holidays and the rabbi who was a dear friend of my husband's. My husband was chairman of our synagogue spoke about it. We had little flyers on everybody's seat. What else are you doing on the high holidays? You could read it. I mean, you can also pray. 300 and”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Incredibly curious, and I was not curious about the Braca mutation. I didn't know much about it besides I had heard about it from Angelina Jolie a while ago. My husband's brother was diagnosed with pancreatic cancer in April of 2021, and it was the first time we found out that he was Broccopositive. So my husband was screened and I remember he peeked his head into the study in June of 2021 and said, I'm Brocca positive. And I was like, okay, we're going to deal with this. So we went and we had him scan for skin cancer and we had a cat scan to make sure that his organs to baseline it because he was 49 and a half. His brother was eight years older. It all came back good in July 2021. Turns out they missed it. And he was diagnosed in January 2022 with stage four pancreatic cancer that had metastasized to his liver. What we learned about the Broca mutation at that point was that we're Ashkenazi Jews at 2.5% of Ashkenazi Jews are Broka positive. That is one out of 40 people. That was a shocking statistic to me. We had no idea.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Like helping other people blinders on this is the mission, and we're going to tackle it, and failure is not an option. We didn't win that one. And then it's, well, how are we going to make sure that other people with the BRCA genetic mutation are aware of it? How are we going to honor Mark's spirit and his life? And how are we going to make a difference in the world? I send my kids off to school every day with the saying make the world a better place. I think that that's all of our jobs. And so really now fighting for genetic screening and really wanting everyone to be genetically screened. In Finland, they screen umbilical cord blood for 75 cents when a child is born and tell them their genetic situation when they're 21. That's smart. We should be doing that here. I'm very mission oriented. I care about people deeply, the clear people and especially my family. I feel like you have to be a difference.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“And it happens all the time. They only are happy when the stock market goes up. That's not the rule. COVID, it was just head down and have your priorities, which is, first of all, lead from the front, take your salary to zero, put that money in a fund for the people. I think that sets a tone from the first day. We're going to make it through and we're here for you. We're also going to have to make some hard decisions. Communication key. My husband, that was a different kettle of fish. I'm the paranoid one who was always like, is this lump? Do you think this is cancer? Do you think this is cancer? And he was like, stop. And then it was, but it wasn't me. In the heat of the moment, it was fixing him. There's a 3% chance of survival with pancreatic cancer. So going back to blind optimism, why can't we be one of those three percent? We can be 49 and a half years old, incredibly healthy. So there's that. There's being there for your children, which is your job. Got to be there for them. This isn't about you. So I think I.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“It's down, and I actually sent my son a few weeks ago. He's 17 a list of stocks that for the first time I thought were interesting because I wanted to show him the buy low sell high. It was down during the tariffs and everyone's freak out. It was like, this is the moment.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Sometimes I ask myself the same thing. I have these blinders on, and I'm very focused on what's in front of me. For COVID, you saw 9-11. People are like, well, how could that happen here? You saw the financial downturn of 2008. You see challenges every few years going back to embrace change. You saw the dot-com bus. Every few years, it's different. This is it. What are you doing about it? I don't get wrapped up in the how could this be? It just is. Shit happens in the world that you would not expect on the positive and the negative. I believe that it can and I believe that you need to be prepared. And I seem to do best under pressure and stress, which I should probably try to flip that. And so I am prepared for crisis. I guess also working in the stock market, crisis is all you know. People, they're like, can you believe in the market?”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Do you have those certifications? You think about temporary staffing. You just keep going for the opportunity set for a secure identity platform that is not a point solution but can be used in multiple ways in that industry. It's an industry that operates on pretty slim margins. Clinical trials. I always said I would love to put my husband's data up there and you find us versus I go find you. It is a maddening experience to go through nih.gov which has thousands of clinical trials to see which ones could apply to you only to find out that he had a procedure or something that meant it couldn't apply to you. The opportunity for transformation for better outcomes in a more cost efficient way are here and now. Identity is foundational across so many industries. We want to make sure it clear we're not boiling the ocean. So there's a few areas we're really focused on right now. But I think over time they continue to expand.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“It's insanity. And once you've seen it, you can't unsee it. So I think the opportunity to transform healthcare, employees who it takes minutes to log on a system because there's different systems and they have to do it multiple times a day. Those are times that they could be helping their patients, not to mention you look at cyber attacks on healthcare data. There's so many ways to transform the workforce and the patient experience medical bankruptcy is a big problem because you don't know what you have coverage for. You don't know what you're going to be out of pocket for. It's crazy. My husband passed away 20 months ago. I still get bills. Such a bad experience on so many fronts and it's 20 months later. I know that our healthcare system needs extraordinary help to create safer and easier experiences. And to connect it all, you think about telehealth. You think about rural areas. You think about are you the doctor?”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Digital health records. I like to say in healthcare that it was professional. It became personal and my husband was diagnosed with cancer, trying to get his health records. You had to go to the fourth floor to get a CD-ROM at Memorial Sloan Kettering. You then brought the CD-ROM back to your office so you could digitize it so that you could send those scans to other hospitals, whether it be Hopkins in Baltimore or in Israel or Japan or Italy. And it was so incredibly hard. I thought this is crazy. This is his data. This is our data. It was so hard to get on the portal if I lost my password.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Stadium. You're a guest and you should have a great guest experience. There's long lines to get a hot dog, long lines to get a beer, you pass your driver's license and your credit card down, that's super private to have it come back. None of that makes sense. And so creating better and safer experiences in sports stadiums ahead of the World Cup, but certainly around the World Cup. We have this new capability to read your passport and the eCip. That's both real ID compliant, which is a little bit of a hubbub out there, both for domestic, but for international fans as well. We want to be welcoming for all the fans who want to come and create safer and easier experiences. But then after that, I think healthcare is an extraordinary opportunity, both for workforce and for patients to create safer and easier, more compliant, more efficient experiences at check-in, at trying to recover your account. and get the information on”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“First of all, I think there's a lot more we can do in travel going for an end to end experience, what we call home to gate, is the opportunity, whether it be a reserve parking spot or Uber, whether it be the ambassador and our new concierge program taking you either to our automated lanes, which we're working on, or ultimately to the gate. I know when I had three little kids and all the suitcases, all you want is somebody to help you putting together that journey is still an opportunity in travel, creating off-site screening, privatized screening, lots of opportunities to transform travel in stadiums and arenas with the World Cup coming in a year and with the Olympics coming two years after that. I think that there are some big opportunities to enhance the experience and enhance security in stadiums. We're partnered with the Clippers where you can use your face for age verification to buy a beer. Steve Baummer did build the arena of the future. And I think there's a lot to be learned from that. But why should you need anything when you go into a”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“That doesn't make sense. Your face should be it. When it makes that much sense, and when it's that feasible and when you're doing it in other areas, it's a here and now moment. And I think as long as it's opt-in, if you want to do it, if you don't, do it the old fashioned way. And that's a choice. It's like my mom cash checks at the grocery store for a really long time. I still don't think she's used an ATM card. We're working on her. I just think it's a moment used appropriately and in a trusted way. Look at crypto. How could you get locked out of your account if you can't remember your 12 divid hash? These things just don't make sense. And then you look at the workforce side of the house and people are coming in the front door with fake credentials or credentials that aren't there as real credentials because they got it from the call center or they did it through other scams. You got to know who people are and what they should have access to. And you need to make people's experience more frictionless in so many different ways. I think the next five years will be transformative.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't think a lot. Look at your iPhone or your Google phone, Samsung first touch ID started, I think in 15 or something of that nature, and then face ID. I don't think there's a lot in between that. I think it makes perfect sense. I think you need trusted companies to do it. But I think the level of fraud has gotten so high, whether it be financial fraud. You look at peer-to-peer, who are you? Who am I? You look at telehealth. Who are you? Who am I? A document is not an identity. An ID is not an identity. You need total identity, integrity. You need identity with depth. You need connecting you to all the things that make you you as this anonymous online world rises, which creates all sorts of problems, I think as the world goes more digital. We just did this partnership with DocuSign. Of course, pushing enter is not a secure thing when you're wiring a million dollars or getting a title or”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Think there's quite a few, quite frankly. I think privacy and data security are a big one. You see some folks on Capitol Hill negative on the government doing it. I think there's certainly a concern about Big Brother. Estonia is a leading country on biometrics. India with Adhar, Brazil with voting, China. There's biometric. But I think that that also has another side of it, which is concern about privacy, concern about Big Brother, concern about data security. So, I think that's a big one. And us being so transparent about privacy and data security and our ambassadors sharing the story, us having a privacy policy that is very transparent. You can control your own data. You can purge at any time has been really important. I think that's the biggest one, frankly.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“And so, in the meantime, we buy back stock. We have a dividend, and we just keep building. So in fairness, and I laugh a little bit in that I was on the buy side and I think I haven't done a great job on telling the story or on the IR side. And I think we can do a better job of creating consistent metrics that we can be measured on. We have to execute and we have to do a better job of sharing good metrics that people can measure and value the business on.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think we peaked at 155 million shares and we're at 133 in change. So we bought back a lot of stock. All the stock that we went public with at 31, we bought back at a lower price. If you want to talk about arbitrage, I think there's a lot they don't understand. I don't think they understand the opportunity in the travel business. I think they think it's like a zero-sum game. We've long known that biometrics were going to go mainstream. That's been our view. There's a TSA report from 2018 on their biometric roadmap. We read it. understanding that we believe biometrics are going to be everywhere. The question is what kind of experience are you going to build around biometrics? Biometrics are a feature, not a product. The product is the experience. Biometrics going mainstream is like new news to people, not to us. I don't think that they believe necessarily in our enterprise identity business. And that's fine. I appreciate ShowMe when we were on the buy side. We called that evidence-based investors, when you show them the evidence.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Which is a here and now opportunity to reduce fraud and prevent insider risk and drive compliance and efficiency and automation on the enterprise side, it's awesome.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Think it's an output of the business, quite frankly. We run the business efficiently, it's a capital efficient business. We are really thoughtful on resources. We continue to get better at that. How do you drive efficiency? How can AI impact member care? We have a little sign like AI to impact every work stream every day for everyone, whether it be legal or finance or HR, recruiting or member care or scheduling or coding. It's always looking for efficiencies. And I was a girl who got all A's and a B and my dad would say, would you get the B in? Every day, I do think we can do better. So how can we do better? How can we rethink that? How can we drive a better marketing campaign? It's everything, everywhere. A subscription-based business model with high incremental margins generates strong free cash flow. And we've invested some of that back into our enterprise identity platform.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“The NHL, so they could have the Stanley Cup, which they've never missed in all of their history, or the open table and resi for dinner reservations. It allows you to be offensive, not defensive. And that is a massive mindset shift. I believe in the growth mindset. And so to be thinking offensively about what you're going to build or what you could buy, it's really freeing. I imagine being very levered could be constraining specifically in difficult times. Going back to embrace energy, you've got tariffs. You've got pandemics. You've got financial markets. It's incredibly freeing.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Used to tell our management teams when I was an investor, you should just lever up and buy back stock. I don't know why you're not more lever at the optimal capital structure is X. When you run the business and you're responsible for all the employees and you're wanting to invest in the business or leave cash on the balance sheet for potential M&A or whatever, levering up doesn't necessarily feel like the great thing. Free cash flow and the optionality it creates allows you to think more clearly when COVID hit. That was a transformative time for CLEAR. We took $20 million, which at the time was our marketing budget to zero on February 26th or 25th. We took our salaries to zero and we created a leave of absent plan for our ambassadors so that when it really happened on March 12th, we were prepared and pivoted to creating health pass and connecting people to their test information and ultimately their vaccine information and connecting those data packets to professional sports leagues.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes. And again, I would focus on free cash flow and optionality, which we did. And I think those two things create that free cash flow and optionality. Look at priceline. They bought bookings and active. Those were transformative acquisitions. But you need the free cash flow or the balance sheet to be able to do those things. And you need the management who has that foresight. I also think you got to be decently paranoid. I prefer management teams that are humble, nose to the grindstone.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“ARPU and say, Where can we go? Those are things that I think I did at Orient's, but not with as long a term perspective as I think was required and to really map out the art of the possible and then probability weight the getting there. What can Amazon Prime be? What can the iPhone be and the ecosystem of the apps and then the economy that that's going to create? Can't just be like, yeah, they're creating an iPhone and they're going to set it 10 million or 10 billion. What can that be? And I think to really map that out and then the impact on the margins is game changing and allows a lot more patience.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Understanding the culture and the people and the systems and the total addressable market and their penetration and then all the second derivatives of that. And at any time, one metric can be a little wonky. The question is, what is your ultimate thesis and is that derailing of it? Nothing is straight up and to the right, almost nothing. Maybe open AI is right now. There is a lot of gyrations along the way to understand that those gyrations are part of business. We would go visit Kodak and ultimately Kodak and Kmart and lots of companies, they can go away. I live with that paranoia every day for 15 years. You can go away. You can become totally irrelevant. What are you doing? What is your product roadmap? What is your innovation roadmap? When will you get there? What will the impact be? I think that's really important for clear I look at subscribers and”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“Let's start with the total addressable market of if you had Amazon Prime, let's start with the art of the possible. And if those people signed up and if they were stickier and if they did more, so what could that be? What could the incremental margins be? I did analyze org charts. I would spend a lot more time on org charts and people and systems. We are in the midst of changing our billing system to Stripe and we are super excited about it. And the opportunity set there is important.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think about that, and truth be told, I have not bought a single stock since we ended Arians because if I can't focus and do it, I'm not doing it. And I own a lot of clear stock and have investments in other places, but I'm focused here. I think I would be such a better investor. So number one, we invested in Amazon. They announced Prime and it went down. The stock went down. They're like, oh. And then the shipping and what are the losses.”
2025-07-08 · Invest Like the Best · Caryn Seidman-Becker: Rebuilding CLEAR - [Invest Like the Best, EP.432] · IDENTIFIED FROM THE TRANSCRIPT · source