YouSaid · the spoken record

Cindy Mi

lines on the record
59
first
2022-12-06
most recent
2022-12-06
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

  1. “Required to speak Chinese. The IP kid didn't invent immersive language classes, of course, but Cindy helped bring the process online with unique one on one video sessions that make it easier for young kids to focus. These days, the IP kid is in the midst of a massive pivot prompted by policy change in China, which we'll get to later in the show. But their scale journey is one of classic entrepreneurial lessons on handcrafting, slashing and burning, crisis management, and grit. In Cindy's case, what ties these lessons together is her masterful use of creating and adjusting incentives to land each pivot. Intriguingly, Cindy's origin story of becoming an Ed Tech founder starts with her becoming disincentivized in school.”

    2022-12-06 · Masters of Scale · Build the right incentives, w/VIPKid’s Cindy Mi · IDENTIFIED FROM THE TRANSCRIPT

  2. “Incentives change as people do for example, a three year old might be motivated by a balloon or a toy truck, as an adult, it might be stock options or health insurance. Try motivating a toddler with the promise of a dental plan. This natural progression is true of everyone within your ecosystem too, so you must constantly check in and revisit the value propositions driving scale. It's a journey that lasts as long as your business does. I want to talk to Cindy Mee about this because as the founder and CEO of the online learning platform, VIP Kid, Cindy has long expertise in how to create and adjust incentives. VIP Kid was founded as an app to connect native Chinese speaking students ages four to twelve with native English speaking teachers from the US, Canada, and beyond. The classes immerse young students in English, so the teachers themselves”

    2022-12-06 · Masters of Scale · Build the right incentives, w/VIPKid’s Cindy Mi · IDENTIFIED FROM THE TRANSCRIPT

  3. “This is Masters of Scale. I'm Reid Hoffman, co founder of LinkedIn, partner at Greylock, and your host, and I believe building the right incentives is key to scaling your business, but you will need to keep balancing and rebalancing those incentives to hold the system together. Charting the future paths of complex systems contains a frustrating number of unknowns, whether you're talking about planets or a business ecosystem. Those paths may look stable, but teeny changes to one can have big impacts on the other. And of course, every so often a stray black hole comes crashing through. One way to keep these groups moving in harmony is by thinking in terms of incentives. This could mean everything from lowering prices to bring in customers to raising salaries to attract top talent, when you adjust incentives, you affect the trajectories of every stakeholder that orbits your business.”

    2022-12-06 · Masters of Scale · Build the right incentives, w/VIPKid’s Cindy Mi · IDENTIFIED FROM THE TRANSCRIPT

  4. “Luckily, our solar system has so far been spared from the disruption of a black hole, but in business disruptions happen all the time. Their effects on the orbits of customers, suppliers, and employees around your business are difficult to predict But you actually have one advantage in a business three body problem. You have the tools to adjust how these different orbits interact. And you do that with the power of incentives. That's where I believe building the right incentives is key to scaling your business. But you will need to keep balancing and rebalancing those incentives to hold the system together”

    2022-12-06 · Masters of Scale · Build the right incentives, w/VIPKid’s Cindy Mi · IDENTIFIED FROM THE TRANSCRIPT

  5. “That's right. A few millimeters of shift in one planet's orbit affected the others with catastrophic results, which makes you wonder whether What sort of disturbance in the universe might create such a shift?”

    2022-12-06 · Masters of Scale · Build the right incentives, w/VIPKid’s Cindy Mi · IDENTIFIED FROM THE TRANSCRIPT

  6. “It's true. Once you introduce a third body to the mix, the future movements of all three become mathematically impossible to predict. This quandary is known as the three body problem, or n body problem, if you prefer variables to numbers. In two thousand nine, two scientists ran a simulation that demonstrated what this means. They altered just a little the path of mercury's orbit around the sun.”

    2022-12-06 · Masters of Scale · Build the right incentives, w/VIPKid’s Cindy Mi · IDENTIFIED FROM THE TRANSCRIPT

  7. “That doctor Fabio Pagucci. He's an astrophysicist at the Center for Astrophysics at Harvard University, and he's describing a fact that scientists have known since the seventeen hundreds. When you study two celestial bodies in orbit, like the Sun and the Earth, you can calculate their movements according to the gravitational pull they exert on each other. But there's a catch.”

    2022-12-06 · Masters of Scale · Build the right incentives, w/VIPKid’s Cindy Mi · IDENTIFIED FROM THE TRANSCRIPT

  8. “Hey, folks, Jeff Berman here. I'm thrilled to share some of the new names who will be joining us at this year's Masters of Scale Summit. This may be our biggest stage yet. Read Hastings, Meredith Whitaker, Van Jones, Amjad Massad, and more will be there with us october twentieth through twenty second in San Francisco. If you're building something great or you want to build something great, we want you there with us too. Join us at masters of scale dot com slash apply twenty six. That's masters of scale dot com slash apply twenty six.”

    2022-12-06 · Masters of Scale · Build the right incentives, w/VIPKid’s Cindy Mi · IDENTIFIED FROM THE TRANSCRIPT

  9. “The very best founders I know are brilliant at building systems. They connect teams, they remove bottlenecks, and they eliminate single points of failure. And yet, when it comes to their own wealth, most are running a disconnected stack. A tax accountant here and a state attorney there, a wealth manager who doesn't talk to either one of them. Creative planning was built to fix exactly that. One integrated team of tax professionals, state planners, investment specialists all coordinated by a dedicated wealth manager who sees your full financial picture and keeps every piece working together. Proactive tax efficiency, state strategy investments all under one roof, creative planning where wealth works together. Learn more at creative planning dot com slash masters of scale.”

    2022-12-06 · Masters of Scale · Build the right incentives, w/VIPKid’s Cindy Mi · IDENTIFIED FROM THE TRANSCRIPT