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So you thought this grand old man in his flashy red robe, outdated sleigh and with his typical “Ho ho ho” laugh would soon go out of business? After all, who believes in all those grandiose tales about him and his snow-capped home in the <keyword id="175235" type="CITY" weightage="100" keywordseo="North-pole">North Pole</keyword>? Today’s kids are just too smart. And who cares for childish things like gifts and toys in an age ruled by success, money and mindless fun? 
 You could not have been more wrong. Over the centuries, <keyword id="1968342" type="UNKNOWN" weightage="100" keywordseo="Santa-Inc">Santa Inc</keyword> has created a tradition that fits with the core objectives of any age – the rites of honouring consistency, creating values, ensuring <keyword id="94495" type="ENTERTAINMENT" weightage="100" keywordseo="Innovation">innovation</keyword> and finally, guaranteeing end-user’s satisfaction. Take a close look at his strategies and operations, and you’ll find that <keyword id="19294" type="ENTERTAINMENT" weightage="100" keywordseo="santa">Santa</keyword> and his <keyword id="4535" type="ORGANIZATION" weightage="100" keywordseo="team">team</keyword> offer all these and more. Here are seven (tongue-in-cheek) reasons why <keyword id="1968351" type="UNKNOWN" weightage="100" keywordseo="Millennial-businesses">millennial businesses</keyword> should follow him. 
 
He has a story to tell. Oops! Not just one, but many and they have gone viral over the centuries. Who can resist a Santa tale, his goodness and the hard work he does to bring forth millions of smiles? Well, some businesses have already picked up this trail, it seems. Only recently, we came across this inspirational story of a Japanese firm who used to produce hand-made luxury bedding and was losing out to mass market <keyword id="5189" type="ORGANIZATION" weightage="100" keywordseo="competition">competition</keyword>. So it decided to go online and tell the tales of its long struggle, its efforts to bring in the very best for its buyers and its newly introduced easy-to-purchase schemes. The company is out of the red but then, that’s the kind of magic Santa has taught us all along. 
 
His products have an ‘emotion’ tag. Santa turns out to be a genius when it comes to the market he chose. <keyword id="1968356" type="UNKNOWN" weightage="100" keywordseo="Toys-and-gifts">Toys and gifts</keyword>. Could there be a better segment where products come with an ‘emotion’ tag? But the same can happen with each and every product – if the promoter can feel the market pulse and cater the right thing. That’s how people fall in love with companies. Apple is one great example in this case. It develops great products, of course, but not all of them are outstanding. So how do we explain the kind of frenzy we see when Apple fans queue up outside the stores? It’s because the company has gained an iconic status and the products hold some kind of emotional value for the buyers. The same thing Santa has been doing through the ages. 
 
He innovates, for all you know. Well, he has to, if he wants to stay in business. Kids all over the world are the most difficult to please and the quickest to throw away all things old. So his business had to evolve, keeping track of all the <keyword id="1756641" type="UNKNOWN" weightage="100" keywordseo="wish-lists">wish lists</keyword> of the world and making them deliverable – within a specific timeframe. In the process, Santa had also shed his orthodox image and become acceptable to a <keyword id="383274" type="UNKNOWN" weightage="100" keywordseo="global-audience">global audience</keyword>. They say <keyword id="90139" type="UNKNOWN" weightage="100" keywordseo="Consumerism">consumerism</keyword> is a great leveller and the wild popularity of Santa across markets proves that point once again. Won’t companies love to <keyword id="1620972" type="ORGANIZATION" weightage="100" keywordseo="innovate">innovate</keyword> and grow their <keyword id="46984" type="ORGANIZATION" weightage="100" keywordseo="global-markets">global markets</keyword> just like Santa has done? 
 
He delivers, without fail. And he has never been shoddy about it. Everything is neatly packed and securely kept… in the stockings and under the Christmas tree. Plus the quality doesn’t suffer although he is travelling all the way from the North Pole. There had never been a <keyword id="101478" type="EVENT" weightage="60" keywordseo="Product-Recall">product recall</keyword> as far as we remember. Now, how many companies can operate like that and keep their reputation intact year after year? 
 
He is vigilant… always. Just like any other <keyword id="1968345" type="UNKNOWN" weightage="100" keywordseo="real-life-entrepreneur">real-life entrepreneur</keyword>, Santa keeps a tab on people (his customers) and how they are behaving – good, bad or ugly. That kind of vigilant <keyword id="1397182" type="UNKNOWN" weightage="100" keywordseo="market-watch">market watch</keyword> keeps him ahead of competition and helps him make a good guess at what’s on the buyers’ mind. And you know what? Santa has done what most FIs are doing – thrown out the bad customers with a chunk of coal flying after them while good customers are listed and served with alacrity. 
 
He has a <keyword id="1283769" type="UNKNOWN" weightage="100" keywordseo="great-team">great team</keyword> and a <keyword id="1968363" type="UNKNOWN" weightage="100" keywordseo="Great-office">great office</keyword>, too. Working with a team of magical <keyword id="1968367" type="COMPANY" weightage="100" keywordseo="Elves">elves</keyword> and flying <keyword id="886086" type="UNKNOWN" weightage="100" keywordseo="reindeer">reindeer</keyword> is something all bosses would love to do. The ‘power of magic’ is the power that lies within everyone – the talent and willingness to work in the face of all odds. Dear old Santa was pretty clever in choosing the location, too. Unless one is scared of freezing, who wouldn’t want to visit those <keyword id="22468" type="UNKNOWN" weightage="100" keywordseo="headquarters">headquarters</keyword> off and on? 
 
He stays hungry… for more. Santa is in love with what he does and that ‘sticky’ factor happens to be the driving force behind his success. It’s a bit difficult to imagine the whole crew selling or outsourcing the business of happiness to some vendor just because he has managed to pay the right sum. It’s not only Santa’s brain child but the core of his existence. The way it had been for <keyword id="45830" type="PERSON" weightage="80" keywordseo="Bill-Gates">Bill Gates</keyword> or <keyword id="6357934" type="PERSON" weightage="80" keywordseo="Steve-Jobs">Steve Jobs</keyword> or thousand others who take immense pride in their <keyword id="395310" type="UNKNOWN" weightage="100" keywordseo="ventures">ventures</keyword> and want to continue with what they are doing. Great <keyword id="48076" type="UNKNOWN" weightage="100" keywordseo="valuations">valuations</keyword> and great offers are cool. But some extraordinary people don’t mind staying hungry and staying foolish – because they want to <keyword id="30450" type="ENTERTAINMENT" weightage="40" keywordseo="Touch">touch</keyword> the sky.

Seven Lessons Santa Can Teach The World And Its Wannapreneurs

Opportunities and barriers line the path to entrepreneurial success. Are you inadvertently an impasse along the route or are you the instigator leading the way? 
 
Better take a look at how you’re approaching the process. How willing are you to learn, listen, reach out to others and reach inward to reflect? Are you resolute? Learn from the insights of entrepreneurial women members of YPO: 
 
Go for it 
“Don’t sit around and wait for right time. Just start.”— Gen George, Founder of OneShift, Sydney, Australia 
 
“A constant seeking for undefined balance has always left me dissatisfied with the current moment, so I left that journey behind and decided to enjoy the ‘right now’ instead and do what was needed of me to get this moment done well.” — Jennifer Labit, Founder and CEO of Cotton Babies, St. Louis, Missouri, USA 
 
Keep learning 
“As I saw the need, or opportunity, for business growth, I would support my efforts with a greater academic understanding. For example, as I became more and more involved with public policy, I chose to bolster my skills by studying sociology. In addition to my MBA from INSEAD, I’ve earned degrees in engineering, the law, sociology and environmental studies.” — Celina Carpi, Member of the Board of Libra Holdings, Rio de Janeiro, Brazil 
 
“The most advantageous way to learn is to ‘take yourself to Harvard every week.’ During the process of negotiating the sale of my company, whenever I didn’t know something I would hire somebody and say ‘Teach me X’ and for three days I would lock myself away and focus on only that aspect of the business.” — Lizanne Falsetto, Founder of thinkThin, Santa Monica, California, USA 
 
Be self-aware 
“It is a great strength to know what I don’t know. If I find that I’m the smartest person in the room, I’m in trouble. It is so much better to be in a room with people who can teach me things.” — Joelle Goudsmit, President of Dimension-All Formworks and Scaffoldings, Philippines 
 
“I needed enough confidence that I would learn on the job. There were steep learning curves but not to overthink was a key lesson during the early years.” — Leah Busque, CEO of TaskRabbit, San Francisco, California, USA 
 
“Because I was young, I had to work harder as a managing director at 22. But being a woman in the Arab world can be turned into a positive. I think sometimes the biggest limitation for women is themselves.” — Christine Sfeir, CEO of Meeting Point and Treats Holdings, Beirut, Lebanon 
 
Be authentic 
“I founded my business and became CEO at 26. I was insecure and wanted to show people how smart and strong I was so I hid my vulnerability. I became friends with a work colleague for whom I had great respect. She shared with me that I was so much better to be friends with than to work for and I realized that if I could bring my true self to work — all my outrageous humanity — I would be more respected and successful.” — Suzanne Klahr, CEO of BUILD, Redwood City, California, USA 
 
Have resolve 
“Be independent. It doesn’t mean you live alone or that you don’t depend on anybody, it’s a mindset. I think sometimes young women are intimidated by the peer pressure. If you have something you want to pursue, it could be different from your peers or even your husband or your parents, but you have to be independent enough to pursue it.” — Monita Mo, Founder and President of Ascend Capital Partners, Beijing, China 
 
“In order to succeed and for your work not to feel like a job here is what I believe in: Follow your passion, trust your gut, and plan to reach your dream, otherwise it only remains a wish; continue to learn; and take time out for yourself every day.” — Catherine Hodgson, Joint-CEO of The Hodgson Group, Cape Town, South Africa 
 
“The key is to be really present and committed in everything you do. When you can really connect, you are the most effective in all aspects of your life.”— Ayesha Vardag, President of Vardags, London, England, UK 
 
Seek and accept input 
“One thing that can get in an entrepreneur’s way is they think they can do it all by themselves, they’re too proud, or they don’t want to seem vulnerable. If you’re looking through one lens, you’re going to be myopic.” — Patty DeDominic, CEO and Chief Catalyst of DeDominic &amp; Associates, Santa Barbara, California, USA 
 
“Getting the right people around you from the start allows you to elevate and amplify the dream that you have.” — Kimberly Rath, Chairman and Co-Founder of Talent Plus, Lincoln, Nebraska, USA 
 
(The article has been contributed by YPO. YPO is the global platform for chief executives to engage, learn and grow. YPO members harness the knowledge, influence and trust of the world’s most influential and innovative business leaders to inspire business, personal, family and community impact) 
 
(Image: Thinkstock)

13 women leaders share insights for entrepreneurial success

<div class="KonaFilter image-container float_right click-to-enlarge"><div class="image on-image"><a title_source="Courtesy of James Paine" title_caption="James Paine knew he wanted to be an entrepreneur since age five." class="zoomin" href="https://static-ssl.businessinsider.com/image/55006967eab8ea897f583937-960/img_4366-2.jpg"></a>Courtesy of James PaineJames Paine knew he wanted to be an entrepreneur since age five.</div></div>When James Paine was 20 years old, he made the bold decision to drop out of college."All of my friends and family thought I had lost my mind," he tells Business Insider. "I told them I wanted to be an entrepreneur. I tried college but I just kept thinking to myself, 'I need to be out there, starting businesses and getting hands-on experience.' I decided sitting in a classroom wasn't for me, and I would try my hand at entrepreneurship."Paine, a Santa Barbara, California, native, has dreamed of becoming an entrepreneur since he was just five years old."It was around that time that I successfully started, and ran, a business renting out my pets to the neighbors," he says. "After a successful exit, I was on to my next venture: selling candy to kids at surf camp. This is what my life was made of as a kid - not LEGOs and G.I. figurines. Business was my lifeblood, my constant preoccupation. I was constantly coming up with ideas and projects that I could use to make money."Of course at that age, income was secondary. "I found coming up with an idea out of thin air, and using it to create solutions, to be far more exciting than anything I had ever experienced," he says.But as a teenager, Paine was convinced that in order to be successful, he'd need to earn a college degree. "So I worked hard in school and made my way into college."Something was missing, though. So in 2007, Paine dropped out of California Polytechnic State University and decided to get into real estate."I was very interested in it and liked how entrepreneurial the business was," he says. "I realized early on that it involved a lot of hard work and problem solving skills. So I got my real estate license, and then went door-to-door offering my services of buying and selling houses." Paine spent three years knocking on doors every day "until my knuckles bled" and by age 21, he had sold over $15 million in real estate on his own. "With all the information I was getting, and all that I was learning, I realized I knew more about real estate than a lot of people," he recalls. "This was the time to make a big move."So he did.<div class="KonaFilter image-container display-table float_left click-to-enlarge"><div><div class="image on-image"><a title_source="Courtesy of James Paine" title_caption="James Paine, 28, learned a few important lessons along the way." class="zoomin" href="https://static-ssl.businessinsider.com/image/54fef54069bedd6c26d4bdd5-960/james-paine.jpeg"></a>Courtesy of James PaineJames Paine, 28, learned a few important lessons along the way.</div></div></div>Paine launched West Realty Advisors in 2009 at the age of 23. "The goal was to use my knowledge of the real estate industry to provide returns to my investors," he explains. "It was my first hedge fund."The first few years were challenging, he says. But today <a href="http://www.westrealtyadvisors.com/">his company</a>, which invests in residential redevelopment projects, is on the track to exceed $30 million in revenue. "We have bought, renovated and sold over 1,000 homes in 26 states and have employed hundreds of people," Paine says."I don't recommend every entrepreneur out there to drop out of college. There is nothing wrong with college and a lot of good can come from the experience, as well as the knowledge that you get there. For me, though, the decision to quit has paid off."Here are seven key things Paine has learned from dropping out of college to start a hedge fund:1. It's not like what you see on TV. "Television often portrays entrepreneurs as rich, carefree, and wild," Paine says. "This is not an accurate description. Reality is much harder to swallow."For most entrepreneurs, struggle is constant, he explains. "They live on couches and eat Ramen noodles every day before they get successful. Sure, for those who persevere and are smart enough, success does come, but there is no instant formula for it, and the hard work simply cannot be discounted."2. It's not all about money.Of course making millions is a nice reward, but if you start a business with the sole purpose of making money, your chances of success will be limited, he says.3. You have to be ready to fight."Every day will be a new challenge … a new obstacle," says Paine. "You have to do whatever it takes to overcome it." <div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Courtesy of James Paine" title_caption="Paine surfing in Playa Colorado, Nicaragua." class="zoomin" href="https://static-ssl.businessinsider.com/image/54ff219b6da8117679eb1ed7-960/james-paine.jpg"></a>Courtesy of James PainePaine surfing in Playa Colorado, Nicaragua.</div></div></div>4. It's hard to take care of yourself. When you are in the middle of a struggling business, it's hard to take time for personal development and your health. "Accept this truth and you will be well on your way," he suggests. "This is one of the best things you can do to help overcome obstacles. It's the ultimate cheat."<div>Paine says he had been a surfer his entire life, but once he started my business, he nearly completely stopped. "I felt guilty every time I would surf and hangout with friends and always felt like I should be working on my business instead." For almost 3 years, he worked 80 to 100 hours per week without ever taking time off to relax and enjoy life."Around this time, a family member close to me died of a heart attack at a young age and they said it was caused largely due to stress. After this scare, I made it a point that no matter what happens in business, always take time for myself," he says. </div>5. Plan on plans not working. "Yes, business plans are helpful," he says, "but I don't know a single entrepreneur who has written a business plan and had it turn out exactly as they expected." Whenever you make a plan, plan for it to change.6. Learn everything. "I read over 50 books per year just to maintain an edge," he says. "If I read for ten hours and learn one new thing that can make me more money, it is always worth the time."Pain recommends speaking with and learning from as many people as you possibly can. "Committing yourself to learning is the best way to guarantee success," he adds. "As my mentor taught me, focus on 'ABL' - Always Be Learning. Commit yourself to this and success will soon follow." 7. Relationships are everything. Focus on building long-term and mutually beneficial relationships, he advises. "While you may not need that person today, you would be very surprised how often or how badly you may need them a few years later. Making yourself the person who can connect two people makes you highly valuable." Of course, these aren't the only things Paine has learned; "this list could go on and on for pages," he says. "These are simply the top seven things that I wish I had known before I started on this journey." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/why-do-entrepreneurs-struggle-cc-chapman-business-strategy-2015-3">Here's the anxiety even the most successful entrepreneurs deal with every day</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="oyN3RmczpUBuHhEbnqv8hxpOq9fByU9v" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

7 things one entrepreneur learned from dropping out of college to start a multimillion-dollar hedge fund

<ul class="summary-list"><li><a href="https://vitaminz.substack.com/" target="_blank" rel="noopener">Daniel Zahler</a> is a healthcare consultant who previously worked at Goldman Sachs and McKinsey.</li><li>He spent 12 years in Manhattan, but moved to LA for a better quality of life — and he found it.</li></ul>When I told people I was moving from New York City to LA, these were the common reactions:<ul><li>Why — what's in LA?</li><li>Did you join a cult?</li><li>Are you gonna start putting avocado on everything?</li></ul>The short answer for why I decided to pack up and move across the country: I can live near the beach and work from anywhere. I work as an independent consultant, advising companies in healthcare, life sciences and medical technology. I didn't have a job tying me to New York. I finally made the move to LA in 2017.I had a realization. What I want out of a city is changing. New York doesn't work for me anymore. LA does.<h2>I got the full New York City experience</h2>I lived in Manhattan for 12 years. I experienced the highs and lows of New York life, from 100-hour weeks at Goldman Sachs to all-day picnics in Central Park.As time went by, the stress of the city began to wear on me. I felt like the city was taking more out of me than I was getting from it. When I visited friends in LA, I noticed how much calmer I was. For me, New York was like a long-term relationship I'd stayed in too long. It was comfortable and familiar. I knew every inch of it. There was always something fun going on. I was addicted to the city's energy.Yet it wasn't fulfilling me. The crowded streets and honking taxis that once seemed enchanting now felt like an assault on the senses. I wasn't doing enough deep work. Nights out seemed repetitive and predictable. The sense of wonder I'd felt as a newcomer was gone.In 2015, I decided to sublet my West Village pad and spend the winter in Santa Monica. I had a blast. I went to beach yoga, did sunrise hikes, and sound bath meditations. I befriended my Airbnb hosts. They introduced me to their friends. LA went from being an attractive fantasy to a place where I could actually settle down and make a new home. Living in LA hasn't had a negative impact on my finances. Santa Monica is one of the priciest areas of California, but it's still cheaper than Manhattan. I was paying $4,000 a month for a tiny one-bedroom apartment in the West Village. Today I'm paying $3,000 a month for a spacious apartment in the heart of Santa Monica with amazing views of mountains and palm trees. <h2>There are three big misconceptions about LA</h2>1. You're always stuck in traffic.Yes, traffic is a problem in LA. But you can avoid it. And owning a car has become optional. Seriously!Uber has been a game changer. You can hop in a car and go anywhere you want. It's convenient and cheap ($20 gets you from Venice to West Hollywood).It's never been easier to get around LA. Don't let the traffic scare you.2. There's no good pizza.LA has become a great food city. New Yorkers, I'm here to tell you: You can get some amazing pizza in LA. Anyone who's been to <a href="http://www.gjelina.com/">Gjelina </a>knows it. There's a Joe's Pizza by the Santa Monica Pier serving up a good replica of the New York original.LA is undergoing a food renaissance. It's easy to see why. Produce is fresher. Leases are cheaper. It's easier to try new restaurant concepts.Chefs today are calling LA "<a href="https://www.latimes.com/food/story/2020-01-03/los-angeles-decade-in-dining-bill-addison">the best food city in America</a>."3. Everyone there is shallow and vapid.LA is not just for people in "the industry." Yes, there are lots of Hollywood types. Fame is the town's chief currency. Throw a rock on Sunset and you'll hit at least one aspiring actor fresh off the bus from Iowa.Then there's the other LA. Spend time in Westwood, Silver Lake, Santa Monica. You'll meet designers, scientists, entrepreneurs. People who are ambitious and intent on changing the world.I've found that LA is a city of newcomers and outsiders. People in LA are more open-minded and adventurous. There's a sense that anyone you meet could be a future collaborator on a film, art project or startup. Rather than ask where you work, people in LA are more likely to ask: What are you working on?There's a real startup ecosystem blossoming in SoCal. Tech companies like SpaceX, Snap and Activision got started here. Silicon Valley heavyweights like Google, Tesla, and Netflix have major locations in SoCal. Top venture capital investors are moving to LA to support the next generation of high-growth tech companies. It's an exciting place to be.<h2>It's easier to make friends in LA</h2>I knew maybe 10 people in LA when I moved here a few years ago. Fast forward to today – I've hosted dinners for hundreds of people. I've been invited to speak at events all over the city.I made more friends in one year than I did in 10 years living in Manhattan.How did I do this? Isn't LA supposed to be a place where it's hard to make friends? A city where people worship at the altar of fame and social media but struggle to make real human connection?LA is not the easiest city to adjust to. The city can seem like a sprawling tangle of highways and strip malls. New York City is like a river, beating you relentlessly downstream. You need to be a strong swimmer to keep your head above water.LA is more like a lake. If you don't have a paddle, you can find yourself drifting aimlessly for months or years. It can be hard to find communities and plant roots. You need to go out of your way to hang out with people, build community and make friends.I made an effort to strike up conversations with people in my building. At Whole Foods. Soho House, Equinox, WeWork.I found it was easy to meet people simply by smiling and saying, "Hi! I'm Daniel. I just moved here from New York."They'd typically reply in one of 3 ways:<ol><li>"Oh really, why'd you move?"</li><li>"How do you like LA?"</li><li>"Cool, I used to live in New York, too!"</li></ol>Each week I discovered new communities:<ul><li><a href="https://www.girlboss.com/uncategorized/2017-8-31-sophia-parsa-mountain-gate-networking-events">Mountain Gate</a>, a monthly speaker series and dinner party with young professionals. </li><li><a href="http://www.trybe.us/">Trybe</a>, a group that organizes Shabbat dinners at gorgeous homes around LA. </li><li><a href="https://summit.co/events">Summit</a>, a group that organizes health and wellness retreats at beautiful <a href="https://www.powdermountain.com/">Powder Mountain</a> in Eden, Utah. </li><li><a href="https://www.schusterman.org/jewish-community-and-israel/signature-initiatives/reality-experience">REALITY</a> Israel, a tech fellowship run by a global community of change-makers dedicated to tikkun olam, repairing the world.</li></ul>The best communities help you venture outside your comfort zone and experience something new. There's a sense of adventure. An element of unpredictability.A good community challenges you. It makes you feel you're part of something bigger than yourself, a greater cause. It gives you a sense of meaning and purpose.<h2>In LA, you can create your own small-town vibe</h2>Finding and participating in these communities has nourished me, sustained me, and inspired me. These communities have made me feel at home in LA.Living in NYC, I often struggled to find community. People were always scurrying between work and family obligations, power lunches and first dates. I met new people but didn't often form the close, intimate relationships of my college years.The key ingredient for the formation of friendships is repeated spontaneous contact. That's why we make friends in school — because we're forced into regular contact with the same people. It is the natural soil out of which friendship grows.I found one of the keys to LA survival is creating your own small-town vibe within the big city. Find a small community where you run into familiar faces.I run into friends every week in Palisades Park, or at the Santa Monica Farmers Market, aka the happiest place on Earth.It's nice to live in an extended community, to have people to rely on beyond family. It's nice to have bustling shared spaces where you can run into people you know without planning it beforehand.<h2>Seeking out former New Yorkers helped me build community</h2>In the summer of 2020 I created a group called "NYC in LA." I noticed how many New Yorkers were relocating to Southern California during the pandemic. I wanted to find a way to bring together New York expats and provide mutual support. So I made a group on WhatsApp and Facebook.The group has grown to over 500 people in the past two years. It's been an incredible source of community. Everyday people share events, local recommendations, and apartment listings. New friendships have been forged. We were even featured in <a href="https://www.nytimes.com/2022/04/09/nyregion/whatsapp-new-yorkers-networking.html?unlocked_article_code=AAAAAAAAAAAAAAAACEIPuomT1JKd6J17Vw1cRCfTTMQmqxCdw_PIxftm3iWka3DJDm4TiOIEGYWP-kDLIrVjbsco1iyDAdlML_o-Q-Zxw_VEekpgVxavuJiFnptDIzkwrcj7eFIK6K_3fOJy9y72PC7-If1jxba7slWKYGPpCvbZ2Gl2IgpuvZc1Jgy10HwNz7PFEbEliNIq3v93AZpqVHxXMnnxyvrrAhx_O92Hf0ucvlFwA7cFLGmVyd2M6LsAcxFQDkbFTh585GU86dBeObAHLfq1bk5gKIel3-JnWiE_J5ypBpYxW4HRi71r1LbLoheOw8O0rO4kdM4x89Us4uf7070HU_FEqQ&amp;smid=url-share">The New York Times</a> in April.We've started hosting NYC in LA meetups that regularly attract 50-60 people. We created a housing group for short-term sublets. We crowdsourced an "LA Cool List" – a collection of recommendations for local activities, hikes, date spots, coworking spots, workout studios, running and cycling groups.There's something special about bringing together New Yorkers in Southern California. New Yorkers are a distinct subculture. We all went through the same struggles: Finding an apartment, navigating the subway, dealing with the intensity of NYC life. It's like running into someone who attended the same college. You have stuff in common. There's a shared background.In a way, it's ironic that I moved all the way across the country to end up hanging out with a bunch of New Yorkers. But I love it. Combining the people of New York with the weather and lifestyle of Southern California – for me, it's the best of both worlds.I've met dozens of people through NYC in LA. Nothing makes me happier than introducing LA newcomers to new friends, giving them tips and helping them settle in. I know how hard it is to feel at home in a new city. I've been there.One member told me: "I'm incredibly grateful for this group. Virtually all the people I've met and bonded with in LA have stemmed from NYC in LA!"<h2>There's still no place like New York</h2>People always ask me which city I prefer, New York or LA. It's an impossible question. The two cities are so different. The short answer is that NYC has the most amazing people, and LA has the best quality of life – sunny skies 300 days a year, beautiful parks and the beach and great hiking spots. Stress levels are lower. Everything is just easier.Summers in Santa Monica are amazing: there are beach gatherings and outdoor concerts. In the winters, the weather rarely drops below 50. The ocean is cold, but the sunsets are still incredible. You can go to the beach in December and have picnics in February.I used to be one of those New York snobs who looked down on LA. I'll always be a New Yorker at heart, but I've grown to love LA, too.I travel to New York 4 or 5 times a year. I love NYC in September, when the weather is great and people are back from their summer getaways. October in the city is gorgeous — the leaves are changing and you feel the magic of autumn in the city. Springtime is great, too: I spend as much time in New York as I can in May and June.New York City is unrivaled in its energy and diversity and is the major league of cities — truly world-class. The best restaurants, bars, culture and nightlife are all there. I love its vibrancy and its unplanned serendipity. You never know where the night will take you.But you also need to have something going for you to make it there. It's not an easy place to live. The people you meet are exceptional – brilliant, attractive, ambitious professionals from around the world who inspire you to achieve more.Living in New York was like graduate school for me. I learned a lot about the world and about myself. Living in the city toughened me up. It made me more resilient.<h2>Making a great life in a new city is all about making the effort to talk to strangers</h2>Now that I've lived in LA for a bit, I try to share my lessons with other newcomers to the city.I tell them it's easy to meet new people at co-working spaces and cafes. There's a great mix of entrepreneurs, artists, and other professionals. They have regular events &amp; happy hours. Or you can just go up to someone and ask what they're working on.Search for local interest groups on Facebook, Instagram, Telegram. It could be a book club, language exchange, hiking or biking group: These are all good places to meet people.Airbnb Experiences are also a great way to explore a new area and meet people. I signed up for a group hike in Griffith Park and a walking tour of Melrose street art.In neighborhoods like Silver Lake and Venice there's more of a small-town vibe. It's easy to meet people at cafes and ask for local tips and places to check out.People are more approachable during the day, when the sun is shining. Don't be afraid to put down your phone and talk to a stranger. That's how people met before the internet!<a href="https://vitaminz.substack.com/" target="_blank" rel="noopener">Daniel Zahler</a> is a healthcare consultant based in Santa Monica, California.

I left Manhattan for LA. It's easier to make friends, my cost of living is lower, and I'm so much happier here.

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Food NetworkGuy Fieri.</div></div></div><ul class="summary-list"><li style="font-weight: 400;"><a href="https://www.businessinsider.com/author/dan-schawbel">Dan Schawbel</a> is a bestselling author, speaker, entrepreneur, and host of the "<a href="https://danschawbel.com/category/podcasts/"> 5 Questions with Dan Schawbel</a>" podcast, where he interviews world-class humans by asking them just five questions in under 10 minutes. </li><li style="font-weight: 400;">He recently interviewed Food Network star, game show host, restaurateur, and author Guy Fieri. </li><li style="font-weight: 400;">Fieri said that all the random information his dad said throughout his life gave him perspective and was a wealth of knowledge. </li><li style="font-weight: 400;">The advice Fieri gave his children is that "it's not what happens to you, it's how you handle it." </li><li style="font-weight: 400;"><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>As one of the most recognizable figures on Food Network, Guy Fieri has come a long way from his roots growing up in Northern California selling pretzels. He spent the early part of his career in the restaurant business, from being a manager and then a district manager, which eventually led him and a business partner to open their first restaurant called "Johnny Garlic's" in Santa Rosa, California, which ultimately expanded to multiple locations. Some of Guy's restaurants include Guy Fieri's Chicken Guy!, Guy's Vegas Kitchen &amp; Bar, and Guy's Pig &amp; Anchor BBQ. Parallel to his restaurant group expansion, he currently hosts TV shows like "Diners, Drive-Ins and Dives," "Guy's Grocery Games," and "Guy's Ranch Kitchen." This year, Guy received a star on the Hollywood Walk of Fame after a decade as a media personality.In the below conversation, Guy shares how being a foreign exchange student shaped who he is today, how he's stayed true to himself, the impact his dad had on his life, the life lessons he's taught his children, and his best career advice.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Courtesy of Dan SchawbelDan Schawbel.</div></div></div>Dan Schawbel: How did being a foreign exchange student in France shape who you are today? Guy Fieri: When you grow up in Northern California, you think you know everything and then as soon as you travel outside of your comfort zone, you realize that the world is enormous. I traveled a lot with my parents and had a pretty good perspective of how big the United States was, but when you go to another country, with a different culture, you realize that the world is a much bigger place.Dan: How did you adapt to the entertainment industry while staying true to yourself?Guy: I had already made it in business and accomplished so many goals I wanted to accomplish. I wanted to be a great dad, husband, chef, and restaurant owner. At 35 years old, I had done everything I wanted to do. Getting the opportunity to do television, I thought, "you know what, I don't know how long this is going to last, I'm going to appreciate every moment and take it responsibly and respectfully, while staying grounded to my family and true to what I want and believe in." I was already at that age that I could handle it. Being accomplished in what I wanted to do already, and being a little older, allowed me to be more balanced.Dan: What impact did your dad have on the man you've become?Guy: My dad had probably the greatest impact of anybody. I was recently just on a road trip with my kids in Canada. I was sitting there telling them about insulators on an electric power line. I looked at my 13-year-old looking at me like, "why are you telling me this?" It was the random information, at random times throughout the course of my life, that really gave me a big perspective and blanket of knowledge. Knowledge is power, and my dad continually gave me a ton of knowledge. We did a lot of critical thinking when I was a kid and I think that critical thinking is one of the most important tools that I have. It gives me the chance to evaluate things from so many different perspectives before I make a decision. It's something we should teach more in schools. I can't say enough about how big of an impact my dad had on me.Read more: <a href="https://www.businessinsider.com/social-media-phenomenon-jay-shetty-on-going-from-monk-entrepreneur-2019-7">Social media phenomenon Jay Shetty on his wild journey from monk to entrepreneur - and why he says being disappointed is a normal part of a meaningful life</a>Dan: What life lessons have you shared with your children?Guy: We spend a lot of time talking about life lessons, both the good and bad, and the ups and downs. I try to pull from all of the lessons that my dad taught me. One of the big ones we talk a lot about is that it's not what happens to you, it's how you handle it. There's great things that are going to happen to you, how are you going to handle it? And, then bad things can happen to you, how are you going to handle it? Don't just take the knee-jerk reaction to what goes on. Instead, take the 360 view of what's taking place before making a comment, reaction, and movement. One of the best things about the road trip was taking the time, having the conversations, having the interaction, and the dialogue. We can't have enough time talking with our kids and sharing experiences and also listening to theirs. Communication is the key.Dan: What is your best piece of career advice?Guy: My best piece of career advice is to surround yourself with great people. When you get in the vortex of things going on, you need people that are standing on the inside, outside, and all around you that can give you perspective. You need to have people you can really count on, that you can believe in, that have balance, experience, awareness and the same values. Without question, surrounding yourself with great people is one of the most critical aspects to my success or anyone's success. You've heard all the bad stories about people that have been swindled out of their money, or have made bad career decisions, and that usually has to do with the people around them. So, surround yourself with great people. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/alexander-wang-on-balancing-business-and-creative-sides-of-fashion-label">Designer Alexander Wang explains how he balances the business and creative sides of his global fashion empire</a></h3> <div> </div> </div>

Food Network star Guy Fieri on his roots selling pretzels in California, his time as a foreign exchange student, and his father's wisdom that he's trying to pass on to his own kids

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Business Insider/Julie BortZenefits cofounder CEO Parker Conrad</div></div></div>Just one year ago, 34-year-old Parker Conrad was riding high.He was CEO of one of the fastest growing startups in Silicon Valley.Earlier this week <a href="http://www.businessinsider.com/parker-conrad-is-out-as-zenefits-ceo-and-david-sacks-takes-over-2016-2">he found himself out</a> of the company he founded, with Zenefits in a world of turmoil. And his No. 2 man, COO David Sacks (who was also an investor), took over as CEO, effective immediately.It's another crazy chapter in Conrad's life, which has been so filled with highs and lows, that it sounds like a made-for-TV movie.<h2>Failing Harvard, beating cancer</h2>Conrad has always made the most of difficult situations - even as as far back as high school, where his grades were mediocre."Then I did this thing called the Westinghouse Talent Search, now called the Intel Talent Search, where I spent about 2 years doing research on neuroscience lab and I ended up coming in third place in that nationally," Conrad explained to Business Insider in a February 2015 interview. (All quotes in this piece are from interviews conducted when Conrad was still CEO.)That helped him get into Harvard where he joined the college newspaper, The Crimson, which he loved. He was eventually named managing editor."I was spending all my time at the Crimson, like 70 hours a week and I didn't go to class for like a year," he said.Because of the time spent on the paper instead of on classes, "I failed out of school. I had to leave Harvard, really halfway through my tenure as the Crimson managing editor. It was this incredibly humiliating and shocking experience," he told us.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.youtube.com/watch?v=C5pKtnmHTxg">Screenshot Via YouTube</a>Students on Harvard's campus.</div></div></div>He returned a year later, graduated, and got a great job at biotech firm - Amgen - based in Southern California. "I had a very great stable life, where I was living two blocks from the beach in Santa Monica. I felt like I was a big star in the company. I was very, very junior, but felt like I was moving up and getting lots of attention," he says.Shortly after college he got, and got rid of, testicular cancer.<h2>Living in an old-folks home</h2>Conrad was starting to get frustrated with the slow pace of advancement at Amgen when his old college roommate called - a guy he used to do day trading with in the dorms. He wanted to do a startup."We had this idea of starting a Wiki for stock research. So I left my company, left LA, and moved to San Francisco."<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>With no job and no money, they moved into "an old folks home" in Walnut Creek, a retirement community called Rossmoor.His cofounder's grandparents had an apartment they weren't using, so they lived there for free.One catch: No one under 65 was allowed to live there, so "we were sneaking in and out each time," he explains."We lived there for about six months. It was by far the worst six months of my life. There was a store outside of Rossmoor that was literally called 'A Better Denture' right outside the gate."He admits, "It's a funny story now - but I sort of felt then like my life fell off a cliff. I had this great life, living situation in Santa Monica, a great job. Suddenly, I'm living in the old folks home, trying to do something like god knows what, to get something off the ground, not having any idea what we were doing."<h2>Fired from his own startup by his cofounder</h2>Being broke and stressed out at his startup "sort of stayed like that for like five or six years, to be totally honest. At Wikinvest, which got renamed Sigfig, we were constantly just two or three months away from not being able to make payroll. We constantly pivoted, two or three times."He and his cofounder were co-CEOs, "which everyone will tell you is a very bad idea. Eventually, there was a critical juncture where Mike's family put in a whole bunch of money and part of that agreement was that he would become sole CEO. He and I really started not getting along after that. And not long after that he fired me."He continues, "And to really make the situation really bad, I stayed around for another year, working at the company, closing out some deals and finishing up some stuff, which was incredibly unpleasant."He continues, "So when I started Zenefits, I was kind of at the bottom. I had been fired. I left in disgrace. And I was thinking, 'How am I going to do this to come back from this?'"Answer: another startup.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Business Insider/Julie BortMotivational sign at Zenefits offices</div></div></div>On the very day he left SigFig, he incorporated Zenefits and launched the company on a shoestring.He had about $20,000 saved up from his exit, but his wife had a job so they could live on her salary while he tried to get the company going.<h2>Resentment leads to a great idea</h2>The idea of Zenefits came from SigFig, which at its height had about 30 employees, making it too small to hire an HR person.As a former cancer survivor, he was vigilant about health insurance, and employees always asked him for advice since he knew so much about it."There's a lot of just administrative work that comes along with having employees," he says. "It was like a couple of hours every month, and it was a couple of hours I deeply resented. I felt like, 'Man, if this stuff was all connected up and all integrated and all worked together than a lot of this stuff would go away. It could run on its own.'"For instance, the only way to enroll a new employee in the insurance program was to fax the form in. He had to go to Kinko's to do that because the company didn't own a fax machine.After he launched Zenefits, Conrad taught himself to code (Python), just enough to build an early version of his idea for Zenefits. "I was non-technical at the last company, and I'm still obviously a sh--y engineer."<div class="KonaFilter image-container display-table"><div><div class="image on-image">Business Insider/Julie BortZenefits employs over 500 people, mostly in this San Francisco office</div></div></div>He was accepted into the Y Combinator program in 2012 and once in, he took on a cofounder, Laks Srini, a top engineer from SigFig. He hired a bunch of others away from SigFig, too.To build the Zenefits site, he talked to a lot of insurance brokers and others, trying to find out why the paperwork was done the way it was. That's when he discovered how much money they all made.And inspiration struck: the "hub and spoke" business model. Give Zenefits away for free and charge for services it could sell them."The insight in our business model is that if you could be the hub, it's such a powerful place to occupy that you could make so much money off all of the spokes that you can give the hub away from free," he says.<h2>VCs poured $582 million into the young company</h2>At the end of 2014, Zenefits was on track to be the fastest growing software-as-a-service company EVER. The company caught fire because it offers a free cloud service for human resources functions - onboarding, payroll, benefits, vacation tracking, and so on. Its original plan was to make most of its money from selling benefits - for example, companies can use it to purchase health insurance. Zenefits is the insurance broker, taking a broker fee."We launched in May 2013 and by the beginning of 2014, (8 months later) we were at a $1 million of run-rate revenue," Conrad told us <a href="http://www.businessinsider.com/the-incredible-story-of-zenefits-founder-parker-conrad-2015-2">at the time</a>.By the end of 2014, Zenefits was at just over $20 million in run-rate revenue, and the goal for 2015 was $100 million."As far as we can tell, we're the fastest growing SaaS out there," Conrad told us at the time. "Salesforce is one of them, Workday is another, and it took those guys four years to get to $20 million. We did it in less than two. It took them five to six years to get to $100 million. We'll do that in less than three."Conrad's bravado had VCs tripping over themselves to invest huge sums of money in his company.By the middle of 2014, he had raised $83.6 million in three rounds from such backers as Lars Dalgaard, currently a VC for Andreessen Horowitz. (Dalgaard famously sold his own fast-growing cloud startup, SuccessFactors, to SAP for $3.4 billion in 2011.)<div class="KonaFilter image-container display-table"><div><div class="image on-image">Owen Thomas, Business InsiderDavid Sacks</div></div></div>In fact, Zenefits was so impressive that one of the Valley's most successful entrepreneurs and angel investors, David Sacks, became both an investor and an employee in December 2014. He took the COO role, the No. 2 job to Conrad.Sacks is part of the so-called PayPal "mafia," a sizable group of former PayPal execs who have gone on to massive success in Silicon Valley. He was the COO of PayPal from 1999 to 2002 until the company's sale to eBay, then founded two successful startups: Yammer, which <a href="http://www.businessinsider.com/yammer-ceo-david-sacks-bio-2012-6">Microsoft bought for $1.2 billion in 2012</a>, and genealogy site Geni, which <a href="http://blogs.wsj.com/digits/2012/11/28/myheritage-raises-25-million-aquires-geni/">MyHeritage bought for $25 million</a> in 2012.He's also an <a href="https://angel.co/davidsacks">an angel investor</a> in companies like Twitter, Uber, SpaceX, Airbnb, Scribd, AngelList, Slack, Eventbrite, Eventbrite, SurveyMonkey, Lyft, and dozens of others.Sacks could do anything he wanted but he chose to take a job at Zenefits because he fell in love with the company, he <a href="http://www.businessinsider.com/zenefits-is-suddenly-a-hot-employer-2014-12">told Business Insider at the time</a>."Zenefits was honestly the most exciting company that I've seen that needed my help," he said, and added that since he's already done it all, he wasn't hung up on being the boss. "In addition to being a entrepreneur and having founded stuff, I've been active as an angel investor. So I've got experience being supportive of other people's visions," he told us.In mid-2015, with venture funds flowing and unicorn madness gripping the Valley, VCs invested another $500 million at a $4.5 billion valuation. That was a whopping $582 million raised by the two-year old company.Conrad was at that point, a Silicon Valley golden boy, a major success story.<h2>Things started to crash</h2>With so much money in the bank, and the VCs chanting, "Grow faster! Grow Faster!" Zenefits went on a hiring spree. In 2014 alone, Zenefits grew from <a href="http://www.businessinsider.com/zenefits-is-suddenly-a-hot-employer-2014-12">a mere 15 people to over 420 employees.</a> In 2015 it opened an office in Arizona, in addition to its San Francisco headquarters, and grew its headcount to over 1,000, the company says. By the end of 2015, it had about 10,000 customers.But in the summer of 2015, it got into <a href="http://www.businessinsider.com/adp-drops-zenefits-lawsuit-2015-10">a much-publicized brawl with HR software giant ADP,</a> a former Zenefits partner, in which each side accused the other of lying and misleading customers. The brawl led ADP to sue Zenefits, but the suit was eventually dropped.In the meantime, <a href="http://www.businessinsider.com/zenefits-launches-a-free-payroll-service-2015-11">ADP was also working on a competitor to Zenefits</a>, and other competitors were arriving as well.As it became clear that Zenefits was not going hit the promised land of $100 million in revenue, <a href="http://www.businessinsider.com/zenefits-launches-a-free-payroll-service-2015-11">it started rolling out more fee-based services.</a> Customers that signed up suddenly found themselves being pitched to upgrade to paid versions by Zenefits new and <a href="http://www.businessinsider.com/zenefits-ceo-refutes-the-naysayers-2015-11">highly-pressured sales force</a>, a potential customer told Business Insider.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Business Insider/Julie BortParker Conrad's father painted this picture called "Lives" a play on how the insurance industry measures things in "lives." It hangs on the entry wall.</div></div></div>At the same time, the traditional insurance industry started fighting back against the upstart service - much like the cab industry and hotel industry did to Uber and Airbnb respectively. For a short while, <a href="http://fortune.com/2015/04/13/zenefits-utah-ban-insurance/">Zenefits was even banned in the state of Utah</a> after insurance brokers lobbied the Department of Insurance.Ultimately, Zenefits was accused of selling insurance without the proper licenses in multiple states. This ultimately to Conrad's departure from the company, Sacks said in an email to Zenefits employees after taking over as CEO."The fact is that many of our internal processes, controls, and actions around compliance have been inadequate, and some decisions have just been plain wrong. As a result, Parker has resigned," the email said.<h2>Failure's biggest lesson</h2>What has he learned from it all?Back when we first talked to him about his up-and-down life in February 2015, he told us, "The only thing I learned is that failure sucks and you never want to do it. There's not a lot to be said for that particular lesson," he laughed at the time.We have reached out to Conrad to hear what he has to say about the latest developments. We'll update you if and when he responds.

The crazy roller-coaster life of ousted Zenefits founder Parker Conrad

<div style="width: 100%; overflow: hidden;"><a href="http://ad.doubleclick.net/click;h=v2|406D|0|0|%2a|s;269075486;0-0;0;95225327;31-1|1;53051265|52992675|1;;;pc=[TPAS_ID]%3fhttps://xedge.aperture.displaymarketplace.com/audmeasure.gif?liveconclientID=4363687804992&amp;CreativeID=50896005&amp;PlacementID=85605703&amp;EventType=Click&amp;rand=3316882&amp;RedirectURL=http://www.chase.com/business-banking/platinum-business-vtw.html?jp_cmp=bb/7331241/ext/linkedin/versatility" target="_blank"></a>
This post is part of the "<a href="http://www.businessinsider.com/category/big-ideas" target="_blank">Small Business, Big Ideas</a>" series, in which business leaders, entrepreneurs, and innovators share their stories of overcoming obstacles and achieving success. "<a href="http://www.businessinsider.com/category/big-ideas" target="_blank">Small Business, Big Ideas</a>" is sponsored by Chase.<a href="http://ad.doubleclick.net/click;h=v2|406D|0|0|%2a|s;269075486;0-0;0;95225327;31-1|1;53051265|52992675|1;;;pc=[TPAS_ID]%3fhttps://xedge.aperture.displaymarketplace.com/audmeasure.gif?liveconclientID=4363687804992&amp;CreativeID=50896005&amp;PlacementID=85605703&amp;EventType=Click&amp;rand=3316882&amp;RedirectURL=http://www.chase.com/business-banking/platinum-business-vtw.html?jp_cmp=bb/7331241/ext/linkedin/versatility" target="_blank"></a>
</div>
<a href="http://www.businessinsider.com/category/big-ideas">See more Small Business, Big Ideas &gt;&gt;</a><div class="image-container float_right" style="width:400px"><div class="image"></div><a href="http://www.flickr.com/photos/edyson/4048162589/sizes/l/in/photostream/">Flickr/Esther Dyson</a></div>Gilad (Gil) Elbaz has already lived every entrepreneur's dream. In 1998 he started a company, initially called Oingo, which later became Applied Semantics.
Applied Semantics built technology that connected related online content. In 2003, around a year before its IPO, <keyword id="6355629" type="CITY" weightage="60" keywordseo="Google">Google</keyword> <a href="http://www.nytimes.com/2012/03/25/business/factuals-gil-elbaz-wants-to-gather-the-data-universe.html?pagewanted=all&amp;_r=0">bought the company</a> for more than $100 million dollars, and used the technology to create <keyword id="825834" type="UNKNOWN" weightage="60" keywordseo="AdSense">AdSense</keyword>, which automatically displays ads based on a web site's content.
As part of the deal, Gil joined Google, and headed up the company's engineering office in Santa Monica until 2007.
AdSense helped establish Google in advertising — its most important business — and earns it <a href="http://www.nytimes.com/2012/03/25/business/factuals-gil-elbaz-wants-to-gather-the-data-universe.html?pagewanted=all&amp;_r=0">nearly $10 billion in revenue a year.</a>
Most entrepreneurs would rest on their laurels, or stay at that comfortable Google job. Elbaz decided to take another crack at changing the digital world by starting <keyword id="1745985" type="UNKNOWN" weightage="60" keywordseo="Factual">Factual</keyword>. This time, he wants to collect, and make accessible, as much of the world's data as he possibly can.
Its core database covers more than 65 million local businesses and points of interest in more than 50 countries.
We spoke to Elbaz on what he learned from his time at Google, why he's jumped back into the entrepreneurial arena, and why he thinks data is the future.
What he learned from Google
If you want to learn about creating an innovative company with a great culture, Google's a pretty good place to start. Elbaz was there right as the company entered a massive growth phase and helped create one of the products that sparked it.
He learned a few things along the way that he's applying to Factual.
"One thing that I learned at Google that I feel like I've applied is rigor to hiring. I think we did well at hiring at Applied Semantics, and I think we've upped the bar even more at Factual," Elbaz said. "What I learned from Google was to have independent thinkers evaluate people and to simply set the bar very high."
It's one thing to say you have a high bar, and another to do it in practice. Elbaz has a few pieces of advice for maintaining that high standard.
First, you need patience. Even if it takes a while to find the right person, it's worth holding out.
And second, though brilliant and focused people are essential, that's not all you need. "Obviously hard working, and focused, and smart; those are all key attributes. But I think what I've learned is that growing a culture is more than that; it's deeply rooted in people, their own personal motivations, and making sure that their own passions can be aligned with what we're trying to do as a company."
Hiring the best people is only part of the battle. You have to get the best out of them as well. Elbaz takes his cues from Google there, too.
"I think that Google is very much a 'bottom- up' culture, where the leaders readily admit that they don't have the good ideas, and that the best they can do is build a culture where those ideas are likely to filter up. I certainly believe in that concept of hiring the most creative people and making sure they have the room to experiment, the room to come up with ideas."
Along those lines, the company recently did something Elbaz describes as "very Googley" and had a hackathon where everyone competed to present a product or idea. At the end, there were 21 projects, a few of which are already in production.
Why he's coming back for another round
Elbaz didn't need to start another business after the sale of Applied Semantics, or to leave a position at Google where he was highly regarded.
But he did it for the same reason many entrepreneurs do: because he had an idea he truly believed in. It's a really big idea too. Factual's goal is to fundamentally change and improve the way data is structured in our world.
The company reflects a fascination he's had since he was a child, Elbaz told us.
"The idea started shaping before I even saw a computer in the '70s in a pretty real way. It was before I knew what a computer looked like that I got addicted to structured information," Elbaz said. "My favorite books, I remember very clearly, were 'The Guinness Book of World Records,' the 'Book of Lists,' and 'Farmers Almanac,' that had all this weather data. And then when we got cable TV I loved the ticker symbols and tracking sports."
That fascination with data led to a desire to make it as accessible as possible in a way that's standardized and simply works.
Applied Semantics was a start, Elbaz says. Factual is the continuation of that big idea.
Elbaz's goal of changing the world of data helped attract investors. They liked the size, ambition, and purity of the vision.
But investors aren't the only part of the equation. One of the biggest issues the company had was to convince other companies that they needed this kind of data.
"A lot of them don't go for vision," Elbaz said. "They go for value, for solving a pain. And we feel like we've cracked the nut now, but that took a little bit longer to turn our idea, our vision, and technology into real easy-to-integrate solutions that address what managers care about today."
Getting customers on board took a bit of a pivot for the company. When they started, the company was intended to be an aggregator of pretty much all types of data. "It turned out that that's hard to market because it's clear in your messaging that you don't specialize in any one industry," Elbaz said.
It was clear they needed to find something more specific that resonated with businesses, and prove that they could produce something incredible with that.
That's a hugely important lesson for businesses. It's hard to convince people that you can do everything well. It's even harder to do it. So Elbaz and his team chose to focus on local data, and businesses have responded. And by proving they can succeed in one area, they'll have businesses' attention when they move to the next one.
Entrepreneurs who are unwilling to change are the ones most likely to fail. That's one of the great things about a small business. You can constantly adapt and change.
Elbaz has come a long way from his first company, which he funded with his own money. "We had a culture of frugality out of necessity," he says.
Many people would have chosen to stay at a great job at Google where they were highly regarded. But there's something fundamentally appealing about working with a small group of people to make a big change.
That helped draw Elbaz back into the startup world for a second round.

Why The Man Who Already Changed The Internet Forever Is Trying To Do It Again

<div class="KonaFilter image-container display-table float_right"><div><div class="image">Associated Press</div></div></div>MOUNTAIN VIEW, California (AP) - Sitting in a kitchen stocked with free food, a handful of 20-something Google summer interns weigh their favorite perks, but where to begin? With bikes, buses, massages, swimming pools, dance classes, nap pods, parties and access to their tech heroes, it's a very long list.
"Unlimited sparkling water?" someone says.
In the end, however, the budding Googlers are most excited about the work.
"The project I'm working on is super high impact, and I'm looking for ways to make my mark," says Rita DeRaedt, 20, studying visual communication technology at Bowling Green State University in Ohio. She admitted to being a bit star-struck after she was assigned to a team headed by a designer she's long admired.
With summer's arrival comes an influx of thousands of Silicon Valley interns who are well paid and enjoy many perks. The young up-and-comers from around the world who successfully navigate the competitive application process are assigned big time responsibility at firms such as Google, Facebook, Dropbox and Twitter.
Silicon Valley tech firms pay their interns more than any other sector in the U.S., according to a Top 25 list of 2014 intern pay by online career website Glassdoor.
Palantir Technologies, a Palo Alto-based cybersecurity firm, topped the list with $7,012 average monthly base pay. Also on the list: Twitter, LinkedIn, Facebook, eBay, Google and Apple, all of which pay more than $5,000 a month, or $60,000 annually if these were full time jobs.
And that's not counting the perks, which at Facebook even include housing in this high rent region.
Executives hope that a fun and stimulating summer will motivate them to come back after graduation to launch careers. It's money well spent in a field fighting for talent, says Keck Graduate Institute professor Joel West in Claremont, who hired interns when he ran his own software company, and now helps place students at internships.
"When you're an employer, interns are a win-win, because you get relatively cheap labor and you get a first look at talented and ambitious people," he says. "You get first dibs on them."
Indeed, many of the internships turn into careers.
Max Schireson, CEO of database startup MongoDB, with offices in Palo Alto and New York, says they nurture former interns, 35 this summer selected from a pool of 3,000, when they return to their respective schools - primarily Brown, MIT, Stanford and Princeton.
"We try to keep in touch with them both to keep that relationship warm but also because they can help us in identifying our next crop," Schireson says.
Schireson says that while there's solid pay, with food, drink and candy around the office, there are limits. Ultimately, he says, "we want people attracted mostly by the workplace challenges."
Typically, interns are assigned to collaborative teams working on specific projects; a computer science student might be writing software code to make failed passcode attempts erase data, while a human resources student might be creating online learning modules for new hires.
Serial entrepreneur Jon Bischke, currently CEO of San Francisco-based Entelo, a tech recruiter, said interns better arrive ready to hustle.
"Companies in Silicon Valley are growing faster than literally any companies anywhere since the beginning of time," he said. "The energy is palpable and for people who appreciate fast-paced environments, you won't find anything faster than what's going on in Silicon Valley right now."
But there is an effort to keep hours reasonable, and many said East Coast financial sector interns work longer hours for less pay.
"We believe in paying for work and paying our interns, full stop, but we don't believe in making interns work all hours of the day unnecessarily, and think there are lessons to be learned in terms of managing time and workflow," said Google spokeswoman Meghan Casserly. Overtime is allowed, however, for projects that warrant it, she says.
Chris Crawford was 18, a student at the University of California, Santa Cruz, when he landed his first internship at nearby Cupertino-based Apple. He spent the next five summers interning at Apple, two in public relations, three at iTunes.
"I love Apple technology, I'm a musician and I loved what they were doing in the music industry, and I got real life business experience there," says Crawford, who went on to launch his own startup, Loudr.fm, in 2009, an online service where musicians can sell cover songs and original music to fans, or through iTunes, Spotify, Google Play and other sites.
Now and then, he says, their little firm of eight even gets an intern.
Google's head of global staffing Kyle Ewing says the biggest misconception about their interns is that they are all computer scientists from elite universities. Instead, Google, and many other firms, have outreach programs to both diversify their workforce and provide opportunities for non-technical students.
As for the new class of interns, thousands of them, Ewing says she expects them to be tackling major challenges as they sip their sparkly water over the next three months. "Our hope is that we can offer a job to anybody who has a successful summer," she says. "We have a very, very successful pipeline."
___
Follow Martha Mendoza at https://twitter.com/mendozamartha
<div class="nc_footer">
Copyright (2014) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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