YouSaid · the spoken record

Stacy Brown-Philpot

lines on the record: 100
first: 2016-09-06
most recent: 2016-09-06
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

“I want people to feel like they can retire when they want to retire. I want people to feel like if they break their wrist or they get sick. Right.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“I could imagine a world where your choice of a permanent job is not as long tenured as it used to be. I definitely can imagine that world.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“I think it's a word because we don't know where it's going to end up, but when you think about there's one million freelancers today and by 2020, that number could be highest 40 million. People are finding a way to make money. And if the current structure isn't supporting that, they're finding another way. Do you imagine a world?”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“And they're defining 50 hours this week and 30 hours next week, and that's how I'm going to pick up my kid from preschool or daycare, for example. And so one of the things is this, the definition of a part-time job and how that's classified is one thing that needs to change. The other one is just training. And can the government create jobs? Is it the company's responsibility to create jobs? One of the things that we struggle with is we want to be able to provide more training to our taskers. Like I know how to drill a hole into a brick wall and I want to be able to drill a hole into a concrete wall and I need to learn that skill. And how do we do skill development and who supports that? I mean, that's a service that I think could be joint. It could be something that we provide or it could be government-led.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“That one of the things that has to happen is the concept of part time should be better understood because the people who task on TaskRabbit are taskers. They have full-time jobs. It's just not the same job.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“And over time, there's a structure to their lives that's a whole lot more flexible than the one that I was expected to grow up in. And so to the extent that week in one, enable that, I think that's great. And two, work with the regulatory bodies to create whatever regulatory frameworks that allow these companies to be successful, but also allow people to find work and have meaningful jobs, then I think that's a good thing.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“We are not against worker protection at all. In fact, we have a $1 million insurance policy that protects our taskers who do the work and the clients who get the services done. And so we've been cooperating at all levels, the federal, the city, and the state level of government to make sure that whatever policies come about are policies that are informed. They're educated about how our business will work within those policies, and that they actually protect the workers. So we are not against worker protection. I think the hollowing point is one where I often struggle to answer that question because I'm not in a generation of millennials who see the world in a different way. And so what task grabbing, what we're trying to do is embrace the fact that we do have a community of people in cities like Chicago, you know, let's go beyond San Francisco, for example, and cities like DC, where they're choosing to work in a different way.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“In the country, which is California. So in the country, and so anybody anywhere, any one of our 19 markets will never make below minimum wage. And we did that because we knew that people were depending on Task Rabbit for a living. And we were becoming a social safety net, and we wanted to provide people with livable wages. And so I think about this as more than just the flexibility that they have, but it's coming to a place where you can make a thousand dollars a month to pay two bills. And before that, you would either gone into debt. Or had to go borrow the money from someone else, and how fulfilling is now your life because you're not going to borrow and ask for money, you can actually go make it on your own with the skills that you have.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“And what TaskRabbit has done and many other sharing economy companies has actually formalized the side hustle in the sense that we are now giving people away to earn an income that is meaningful. We don't set hourly rates below the average minimum wage for the country. So the minimum amount you can make on TaskRabbit is the highest minimum wage in the country. And so because of that.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“My mother was a single mom, and she was a claims adjuster at an insurance company. She actually dropped out of school to become, she was going to become a registered nurse because she had to take care of me and my brother. And she didn't have TaskRabbit. There was no service available for her. And so she made a bunch of sacrifices for us. So if Task Rabbit had existed, she would fall asleep helping us with our homework. And what if there was this service that could help her get things done so that she could spend more time with us? And that just didn't exist. And so I know that there's a lot of controversy around this, but it means a lot to me. And likewise, I grew up with people who couldn't find jobs. They couldn't find W2 jobs. They were hardworking people with great work ethics in Detroit, the auto industry went away for a long time. It's coming back now, but it went away. And these are hardworking people. And so they would do anything to create a side hustle.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“I think of it as an O business model. So let's talk about the changing economics of jobs then because you are a job company. You're creating jobs for people. There's been a lot of controversies around this. Some people everyone in Silicon Valley is the best thing ever. Everybody gets to work whenever they want. They get to, you know, that's the Uber argument. It's the same thing. It's like there are trade-offs about what happens to jobs in this country and what they're not unionized. There's not as many rights. The health care issues. Let's go over some of the more controversial aspects of it. I mean, obviously I think you'll be on the side of this is fantastic, you know, just the way I recently had Cheryl Sanberg on stage. I'm out of AI is fantastic and there are some that beg to differ. Talk about both sides. I get the plus side that anyone gets to work whenever they want. They get to earn a living or extra money if they're a mother or, you know, they need extra, whatever, you're a college student. You need extra money to do these things and you have skills. That's the plus sign.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“We want the clients to sort of think of Task Rabbit when they need their house clean or they need a handyman There's certainly other companies out there that do that. Angie Sliss is an example of a lead generation. Opportunity, and we think we're different because you actually can hire the person on TaskRabbit, you know who's going to do the work, you know how much it's gonna cost. It's a very different new version of what they do.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Well, most of our competition is people doing it themselves. They decide that I feel guilty or I can do this myself and we want task rabbit to be the trusted place where they go.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“It's called rigor, actually. Rigor of understanding the money. So, what's your concern with is not so much the category if it exploded or it starts to get weak in certain areas. It's how you manage your place in the category.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“A financial person, you can answer by that. I can't think about other companies. I think that we've always thought about having strong unit economics. And so the timing of which we've taken money and taking investment has really been built on do we have, have we reached the next stage of growth? Can we grow the business with the unit economics that we have in a consumer business? And I don't know that every company has thought about that and thought about the way they raise money and likewise the investors have thought about the way they've provided the capital. Well, it's called risk.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“You know what I mean? Think there's going to have to be some consolidation. What I think is happening is that on our mobile phones today, we have a lot of apps that we use. And over time, there'll just be fewer that we rely on. And so what we'll have to do is service providers of those apps is provide a better offering. And for us, it's like life essentials. And so the consolidation will happen. I don't know what happens to the companies in that consolidation, but I think there'll have to be some, at least some consolidation in the market.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“That's been the hardest thing Get asked to do a lot, and the most important thing that I can do is make task rabbits successful. But knowing on a given day which one of those things actually will make that happen, it's hard to decide.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, and my experience at Google going from 1,000 to 50,000 people has taught me a lot about growth and scale, and we're at a point in the company where that's exactly what we're doing. And so I could apply all of that to this great business. And I was okay, yeah, I want this job as CEO.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Did you? I don't think everyone wants to be a CEO. I didn't know I wanted to be a CEO until I was offered the job. I was very happy running a great company with a great partner when the opportunity came up, I felt like there was things that I could do as CEO of TaskRabbit that would make the business successful. I just wanted TaskRabbit to exist for everyone. You would have all the hands.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“That was in April. Right. But Lee and I have been talking about it for months. She came to me and said, you know, we had reached a point where we grew 4X last year and we had reached such a good point of scale that she said, look, this is the time where I'd like to step aside and let you come in as CEO. I'll become chairwoman of the company and you can take the company to the next level. It was a pretty amicable decision. We went to the board. Board said, this is great. And it happened. So it's fairly, you know, there was the logistics around announcement that you all didn't see in the background. It was several months of planning that went into it.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I don't know if there's too many, but we don't see it as a problem in terms of our growth. We've always had positive unit economics. We're profitable on every task in every category, and we've always been that way.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Well, one of the things that we've learned from having multiple categories is that our clients come back and use us more often when we actually add more, we have more services. And so people who've come up with verticals are trying to do the same thing by adding other verticals, we already have them.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“And that expands. We're only in 19 cities right now. We're only in one city outside the US. We want to be in more markets. We think, I believe, Task Rabbit should exist everywhere. And so we can take our home services platform and launch more markets. And then over time, we'll add more categories to it.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, one of the reasons why we focused on a few categories is that we wanted to make sure we had enough taskers or supply in a marketplace terminology to actually do the job. And so by focusing, we know how to find great handyman and great cleaners. A second reason why we did it was so that we could actually market. Service To people in a clear way that they would understand it. Couldn't go to market when we do everything. What we can't go to market with is that we will clean your home. We will do your chores while you live your life. And it made a much easier kind of value proposition for people to understand.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“So we take a fee on every transaction. So once you post a task on TaskRabbit in a few minutes, somebody will accept that task. The person complete or whatever. Yep. Somebody completes the job and then we take a transaction fee once that job is completed.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“They feel very, they're either very happy or very dissatisfied. We couldn't build a scalable business that way. So we shifted to we only going to offer a few things, four things that you can get done around your home, cleaning, handyman, moving or delivery. And we're going to focus on specific markets to make that happen and increase the chances that you can get it done. So now it's like an 86% chance that you get it done. By doing that, we were then able to reinvest money into marketing and growing the business and increasing our density and penetration in those markets.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“We went from offering everything for everybody. And in doing that, it was like a 50% chance that you'd actually get your task done on TaskRabbit. So he said, that's not going to work. Because people feel”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, there were some bumps. I got there, and then six months later, I've joined the company. I realized that we weren't focused on the most important things for the business. And so we had some layoffs. We actually pivoted the business model and focused on a direct hiring model. And it took a year to make the problem.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“So I like to describe task rabbit as the leader in on demand home services. I mean, we've moved from neighbors helping neighbors to being a business where you can get home services on demand. You can download our app and use it and actually find somebody to clean your house or find a handyman in less than five minutes, 80% of the time. And that's very different than the original construct of the sharing economy. Underneath all of that is just this bigger economic responsibility. And I think some of that conversation has been lost that we believe that we have to empower people to find meaningful work. We have over 55,000 registered taskers in our community, and they're using TaskRabbit to pay one to three major bills a day.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“I like to say, and I talk about this actually with HPR exists because of the technology. That has been created because of mobile technology, because of the internet, because of location-based services, we're able to now build a platform where we can connect people in a way that we couldn't before. So we haven't built the technology, but because the technology exists, we can enable people to do things that they couldn't do.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I mean, the sharing economy is sort of an old term now that, you know, fast forward eight years to when Task Rabbit was founded. But what we're really trying to do is create opportunities for people to earn a meaningful income And do it in a responsible way. I mean, I think of Task Rapid as everyday work for everyday people. And I get to sort of create, build a business where we're matching people every day who have time and skills to get something done and people need something done around their house.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“My entire skill set is all in operations. And so talk about that a little bit. The idea of this sort of sharing economy kind of thing is just getting started. But it's very analog. It's a very analog kind of thing that you're trying to digitize, essentially.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“This is something different. So fast forward a year later, I was visiting Task Rabbits Building and I saw the company was there and I checked in with her and she had just kicked off the COO search and she said are you interested in being a part of the process? And at first I said, you know, maybe, but let me find out what's going on with the company. And they were really on to something. And I said, here's another company with this big mission to revolutionize everyday work. And here I am looking for a company with a big mission that can scale. And this was a business that is powered by people. So, this was an operation. And my entire skill set is all in operations.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“I looked around. I actually had met Leah from TaskRabbit a year before and just tried the service. My daughter was five weeks old. And every time I meet a new entrepreneur, I always use the service or try the product or check it out and see what it's all about. So I sent somebody to Target to buy some things for me. And two hours this person shows up. And I was like, wow.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“I wanted Google was now 50,000 people, so 1,000 to 50,000. And I was more excited to sort of go back to a smaller company that had a big mission and start to build that again.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“I enjoyed, I loved working at Google, but it was time for me to go on to the next thing. I had accomplished so much. I started in finance. I had moved over into operations. I had moved to India and run a team of a thousand people. I came back and I was an entrepreneur in residence at Google Ventures. I had tried a lot of different jobs there. And for me, my next thing probably just wasn't going to be at Google.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“And it was, they were so different. The ideas were different, which may mean the dysfunction that you're talking about. But we somehow Know they did something with the hiring process that allowed us to get along. And we didn't scream at each other and we didn't yell. Least not in the early days. And so we just make it happen.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Right That's right Everybody at Google and still is, I think, at least what I hear, is very collaborative, pretty consensus driven. We all want to solve the world's problem, organize the world's information, like aspire to something bigger than yourself, and we're all going to do it together. And that was just a part of the culture. We thought about everything was about having fun. All the time, and we worked hard. So we worked hard and we played hard, but it was really about like, how are we going to do something bigger than ourselves? And we would set these big goals that we were pretty sure we weren't going to achieve them. But if we aimed high and ended up just a little bit below that, then we would accomplish something big.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“You know, crazy, but she didn't know what it was in 2003. It wasn't a done deal. It wasn't solved. It wasn't figured out. And where I grew up in Detroit, nobody knew what Google was. No one was searching for things on the internet all the time. And if they were doing anything, they were doing it with Yahoo, which was a different company at the time.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Oh yeah My mother said Well, you know, honey, if this Google thing doesn't work out, you can always go back to public accounting. And today's Texas sounds.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Wasn't worried about search. I was inside Google. And so I knew how much money the company was making every day because I was in finance. And so outside it may have looked like, oh, we should be really worried about search. And inside it was like, wow, this is a business that people are showing up every day to use and they're clicking on the ads and they're getting value out of it. And no one can really stop this.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“That was fun I was in what's called financial planning and analysis of sales finance. And so I built out all the budgeting, all the planning, all the forecasting, and all the operations around the finance team for what was the online sales and operations.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“We didn't have any infrastructure around finance, so it was less about the number counting and more about building an operation and building a finance function for a business that was growing like crazy.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“So I got the job as a financial analyst, and Little Me is a financial analyst, and I'm thinking, like, I here I have a Stanford MBA, and here I'm going to go be this financial analyst. Is that really it? But I later learned that this was probably one of the best career decisions that I made because I ended up working with Cheryl Sandberg on her team and being her finance business partner. And at the time, Google was a thousand people.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“You know, it was some of the smartest people that I had met. I was thirteen people that I interviewed with on my interview day, one day of interviews. Some of these people have gone on to be very successful in their own, right? And I just felt like I walked out of there with these are some of the smartest people. I don't know if this company is going to be successful, but I think I'd have fun working here with these people.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, one of my classmates went to Google right after we graduated and I said, what are you doing? I didn't have a job yet. And he said, oh, well, I'm at Google and you should come and interview. There's a bunch of great people. We're building this cool company, and I think you would have fun. And so I decided to go.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“It was the best two years that I spent undergrad for me in college was really about, you know, how do I become a professional, but business school for me was how do I become like the person that I'm meant to be? And that sounds really cheesy. And I know people from Stanford might say that, but it really was about that. I thought I'd go back into finance. I'd learn about technology, and I'd go back into finance, and then I discover this little company called Google and decided that this might be a How did you get there?”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“The curiosity around the value creation that was happening with companies that had very little money, I was an MA. So I also worked on some non-tech deals, but these were like big businesses with real revenues and real profits. And we were selling those companies and here these tech companies. So I wondered what is it about these businesses that is creating the same value as a longstanding profitable company? Sure.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“I worked on some tech deals at Goldman Sachs, but I got excited about just how these companies were creating all this value and going public. Right. This was in the top of the boom.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, so I came to Silicon Valley 16 years ago to go to business school at Stanford. And before that, I grew up in the city of Detroit and didn't know anything about technology. No one in my family was an engineer. Right. I ended up going to work at Goldman Sachs in investment banking in 1999. I worked on some tech deals. And I got real curious about all these.”
2016-09-06 · Decoder with Nilay Patel · Recode Decode: Stacy Brown-Philpot, CEO, TaskRabbit · IDENTIFIED FROM THE TRANSCRIPT