YouSaid · the spoken record

Nick Hanauer

lines on the record: 171
first: 2015-06-21
most recent: 2015-06-21
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

“Yeah, civicventures.org.org. And our goal is to do what we do in the business world to... Sort of disruptive in the civic sphere, right? Creative destruction in the civic sphere.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And then, you know, we have a team of people who work on politics with me. And that entity is called Civic Ventures. And it's very much like... Civ”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I know, I know, I know, I know, I know. I should track that guy down. It should just be Hannah. That should be your domain. Hanot.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Emotional like you. Yeah. You know, just not like, oh, look at the spreadsheet, look at the hockey stick, you know, the spreadsheet says it's going to go here, but, you know, but not noticing that those two guys hate each other, right? The two guys that just presented this plan hate each other and are going to last 15 minutes working together, like 15 minutes after you put the 3 million in. They're going to be in some war, and you're going to need to get rid of one of them, right? Like not noticing that bad.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, just like so you don't invest in a company. You invest in... A group of human beings working together. And if you pick the right human being, Having better people skills, being able to read people better, being able to understand people better, being able to understand their emotions better is in investing and I think in every domain in life an enormous advantage, empathy, you know,”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so. You know So the economy isn't money. I wish I understood better that the economy isn't money, it's people. Explain that a little further because that's an interesting insight.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Have an expertise in that space, so while we knew nothing about it, we've never made an investment in biotech. This is a random, idiotic bet based on an emotional response. You had to a guy. But no good instincts this week. Well, I was lucky. I missed that also random luck.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“They cured a specific type of cancer. So Mike Jensen's research at children, they have now treated 30 kids who were on death's door with leukemia. In 95% of the cases. Full remission. Full remission.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Zero background. Zero background. I really like the guy. I'm making an investment. What do you guys think? They're like, you've lost your mind. You're an idiot. Don't do it. But I did. Fast forward. They cure cancer”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“A million dollar donation or something like that, giving the money. And I'm like, but, you know, look, I'm a venture capitalist. So I got to ask, who owns the IP? And they're like, well, you know, turns out there is this entity that you could invest in. So I throw some money in, right? Why wouldn't you? You love the idea. It's immunotherapy in this guy. And we gave him money to pursue his research and go into human trials. But the pitch was so compelling that you were like, look, if you're really going to cure cancer here, like, surely I want to make a bet, right? So I make a bet, but I pitch this to my partners.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah. And, you know, let me give you an example of just, you know, random luck. So my wife and I three years ago decided that we needed to make a significant donation to our local children's hospital because we had never done it. It's a very important civic institution and we just do these sorts of things. We say, you know, where should we send the money? My wife's one of my wife's very closest friends on the board. She sets us up with a meeting with the people who run research for children, including the guy in charge of cancer research. This guy makes his pitch. I see a lot of pitches, Barry, and I'm like, okay, that guy is worth backing. So we give him.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“To what works and what anybody who's honest has a list of things where you're like, I passed on what? You know, like, what was I thinking? Of course. Because”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And you know, that sort of stuff. And those are real names from the list. Exactly. And for sure, anybody who's honest has that list. It's so random.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Monetize that other than sell themselves to Google. Right. So you often have to, you know, I often have to catch myself thinking it's the stupid tiny idea. And then you think, oh my God, who knows? The internet. Teaches you humility, if nothing else. I've heard many”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah. Yeah. Okay. Thanks. Next. Get out of my office. You know, like, you know, you just, and here it is, right? And now Twitter has its challenges.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, yeah, yeah. Can you imagine the first pitch on Twitter right now? I use Twitter every day, as do you, right? Well, right. Can you imagine the first pitch, which is like”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“What turns into a giant idea? I mean, for the life of me, I can't figure out how Pinterest became a thing. Can you imagine the first pitch on Twitter? You and I are.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Of the economy. And that, by the way, that's just the SP 500, right? That's not the other capital available. And so what you have is an enormous amount of capital sloshing around the world looking for Uses for $50,000 or $500,000 or whatever it is. So there's that. I would say that, you know, the one really. The thing that's really changed about the world and particularly the internet powered world. That's a hard lesson to embed in your brain if you started out a long time ago, which is So big, you'd be amazed what will work, right? Things that 20 years ago sounded like insane tiny ideas, a niche, insane tiny niches turned into giant enterprises today because with six billion people online spending trillions of dollars, whatever it is, you can make a business out of the craziest stuff. And it never fails to surprise you.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“But when I graduated from high school, it was $3,000 per man, woman, and child. Today it's $60,000. Really? Man, woman, and child. Yeah.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Relatively simple. Don't be a jerk. Good advice for everybody. Well, there are a lot more people in it. In various ways. There's a lot more. I mean, one of the things that's happened to the world is that we are living in an age of capital super abundance. Right, like so here's a fascinating thing, Barry. So when I was born, the value of the entire S&P The market cap of the SP to the population of the United States was $1,000 to one. All right. So there was $1,000 of S&P market cap.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Not bad advice. Be good, do good. Try to make a difference in the world. Try to make the place better than you found it. I just think that, you know.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Island. Where do you go? We were in the exhumas, in the Bahamas. And then another week with my wife and three other couples messing around, you know, seeing stuff.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, maybe. You should just keep working your way up until you go too far. Exactly. I Yeah, yeah. No, no, for sure. But, you know, I just spent a week in the Caribbean with a bunch of my friends diving and fly fishing.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I have a preponderance of boats because it turns out to be easier to buy boats than sell boats. Someone told me that a boater...”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I have a family and a couple of kids, and so we rip around doing fun things. You know, I live in the Pacific Northwest, so we're very outdoorsy. We ski, we hike, my son and I are fanatic fly fishermen. Oh, really? Yeah, yeah. We do a lot of salmon and what else with trout and stuff like that.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Who's the author? Moises Na And his thesis is that basically the nature of power is changing over time. So in the day, in the good old days, people had real power, which is you will do this or I will kill you. power today It's more like gosh, I'd love for you to do this. And by the way, it's your idea and won't we all be happy if we do this together. So it's more from moral threats to persuasiveness to persuasiveness, right? And that is an extraordinarily interesting trend in terms of how we manage countries, enterprises, societies, so on and so forth. And something really worth thinking very, very carefully about if you want to change.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Nonfiction about the issues that interest me. And a very interesting. That I just read as something called The End of Power.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“An amazing book on strategy issues. Really? Yeah, really, really fun. And then, you know, I read a ton of, I don't read much fiction, but I read a ton of.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, and all that stuff. But there's all sorts of great stuff available. In fact, one of my favorites is the Marine Corps' book called just called Warfighting.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Techniques for analyzing industries and competitors. And as a student of strategy, I think that I've read a ton of military strategy books. Everybody reads on...”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, business books, I don't think you can beat Michael Porter for strategy. Think his book competitive strategy is the best book on strategy ever written.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And then, Mike went back as sort of a consultant to Apple and was a non, he was a member of the Apple executive committee, but as a non-employee. And so, sort of stay close to that. But anyway, they're just incredibly smart people, and I'm lucky to get to collaborate with them.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Know, God offers from Balmer together. That's early 90s. No, no, no, no, no, no, early 80s, early 80s. 81 or something like that. That's crazy. Yeah, long time ago. So both very, very early Microsoft executives. And Mike, so Pete stayed at Microsoft and went all the way to the top. And Mike ended up running the Apple business for Microsoft and befriended Steve Jobs and then ended up as the vice president of marketing for next computer.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Investors, well, my partners, you know, two very smart, Pete Higgins, who was one of the co-presidents at Microsoft in the day. He was in the office of the president with rakes. When Jeff Rakes went on to run the foundation. And Steve Valmer, who obviously ended up being the president. Unbelievably smart guy. And my partner Mike Slade, who went to, so Mike and Pete, I believe, were the first two MBAs, Microsoft hired. Oh, really? They went to Stanford Business School together and they both”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“They went out of business, I think, just because they overreached. They made some bad strategic decisions and got disfocused. But the cheaters largely went away. Short term.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“So nobody checks. And so the whole industry was characterized by cheating, and many of our biggest competitors were relentless cheaters. And my dad wouldn't cheat. He just wouldn't cheat.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Nobody stuff and nobody checks. Nobody checks. No, the retailers don't check. Why don't the retailers check? Because they don't give a rip. Retailers don't care about quality. All they care about is cash flow. Get it in and out.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And so there's an enormous temptation to put the wrong things in the pillows because obviously if you cheat a little bit, your margins go through the roof. But you get a spot.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Because there just is because over time you can tell the difference, but sitting in the story, you can't tell a difference. Oh, I got you, right?”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“How do you not cheat in it? So a pound of downs costs worth about $30. But a pound of crushed feathers is worth a buck. So if I put a pound of crushed feathers in a pillow, Barry, you will never be able to tell the difference.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Took me a while to learn how to do that. Yeah. You know, like how to be strategic. I don't know, just a lot of great lessons. You know, my dad was in many ways less strategic than Roy was, but he was a great moral mentor. And the funny thing about the pillow business. Is that it's characterized classically was characterized by immense amounts of cheating.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“10 years ago or so. And he was an extraordinarily shrewd. Business person. He just was as sharp and clear a thinker as you've ever met.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Common Core, you know, these are very complicated questions. And I wish I wasn't, but I am of two minds about them. I mean, on the one hand, you want to have kind, you certainly want to have a national standard of what we're trying to teach and some sort of national judge about whether we're teaching it. Right, just because Alabama decides to give every kid A's doesn't mean that those kids in Alabama are actually learning the math. That they're going to need to participate in the global economy. And we need to find a way somehow to decide as a country what we want kids to learn and to figure out as a country if they're learning it. And how to do that? So as you know, if you run businesses measuring things is very, very hard because there are a lot of variables. But if you can't measure and prove it. Exactly.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Tons and tons of stuff on public education, policy and reform. I founded something called, co-founded something called the League of Education Voters in Washington State, which has pursued every manner of public education reform funding, so on and so forth. So we're big supporters of that. What”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Though, from what the NRA was like 10, 20, 30 years ago. Yeah, absolutely. It's completely different. But, you know, it's just a real shame that we can't, as a society, you know, bake in some of these basic protections. So we'll have a safer civil society. In my state, in most states today, your chances of being killed by a gun are higher now than being killed in a traffic accident. Really? Yeah. That's amazing.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“You would think, but their agency. You have to remember that the gun lobby isn't about gun owners. They're God gun manufacturers, right? That's become pretty clear. Exactly.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Right. And so, you know, this is a common sense public safety protection that you should, that reasonable people should be able to pass. But of course, the gun lobby is violently against it. Well, they're coming at a time.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“His family went to the police multiple times saying please please take his guns away. Their hands were tied and they're basically the police are like, look, until he kills somebody, there's nothing we can do. So the kid went out and he killed half a dozen people.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“In favor of give you 90%. It's nuts. It's nuts, but violently opposed to a common sense Piece of legislation like that, where if you're going to buy a gun, we get to check and make sure you're not a criminal or a crazy person. You know, another piece of legislation that we're trying to pass is something called an extreme risk protection order. So this is a rule that allows a family to go to a judge and say little Billy is super crazy and he's super dangerous and if somebody doesn't take his guns away, he's going to kill himself or he's going to kill somebody else. So in a huge proportion of the mass killings that you find, the family's new. Everybody knew. Everybody knew what was going to happen. There's a great case in Washington State, the cafe racer killings, where this kid was whacked out. Right.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Who could be against that? Well, it turns out the NRA and all the people who manufacture it. You know why that is? Are violently against that? Because it's terrible for the gun business.”
2015-06-21 · Masters in Business · Second Avenue Nick Hanauer: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source