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#218 The science of making better decisions with Matt Oguz | Manuj Aggarwal | Bootstrapping Your Dreams Show

Season 1, Ep. 218

Do you want to learn to make unbiased decisions based on scientific models? Do you need advice on investments and addressing current market needs while embracing long term trends? Then join us with Matt Oguz, a successful investor, entrepreneur, decision theorist, and writer!


Matt is a successful investor and a founding partner at Venture Science, a San Francisco-based investment firm that pioneers an approach to venture capital based on data research. The core principle of the firm is based on his idea of making decisions based on math and avoiding biases while evaluating investment opportunities.


He is also the Chief Investment Officer at the Iris Family office. He is candidly outspoken about his approach and shares his valuable thoughts as a renowned columnist on TechCrunch.


Matt is a polymath, with multiple skill sets in analytics, behavioural economics, decision sciences, and AI.


Here Matt talks about:



  • (1:35) Matt talks about his early journey and challenges faced as an immigrant
  • (4:35) What are the factors to be considered before making a decision?
  • (12:10) To what extent does historical data help predict the future?
  • (14:39) What drove Matt to start Venture Capital?
  • (18:43) Most contributing factor for the success of a startup
  • (22:06) How does Matt spot big opportunities before they turn into big names?
  • (25:58) What does Matt think about investing in technology?
  • (28:20) How quantum computing will change the world
  • (30:55) Long term effects of the pandemic on the economy
  • (35:51) How are business models changing with the pandemic?
  • (38:23) How to reach Matt online?


Find Matt on:


LinkedIn: 

https://www.linkedin.com/in/mattoguz/ 


Reach us on:


Facebook:  https://www.facebook.com/manuj.aggarwal

Instagram: https://www.instagram.com/manujagro/?hl=en 

Linkedin: https://www.linkedin.com/in/manujaggarwal



Manuj’s stories:

Read Manuj’s story here: https://him.innerget.com

And his entrepreneurial journey here: https://www.InnerGet.com

More Episodes

7/23/2021

#225 The secret to building lifelong customer relationships | Jeff Moore | Manuj Aggarwal

Season 1, Ep. 225
Highlights:(00:01)- But if we find ourselves spending more time, you know, chasing things that are not there, then we're taking time away from the customers that want to do business with us.(0:15)- I also have a saying, and this is really the saying that was born in the Thursday night boardroom, and that is learn to teach, teach, to know, know, and share, and do with passion.(0:28)- We all share the same frustration. Yeah, we don't feel understood.(0:35)- The connection that you have with someone you know, feels that you understand them and get them and they're comfortable with you. Because if that's not established, all the messaging in the world won't matter.(0:48)- I don't believe it's a game-changer. I believe it's an accelerant.(0:51)- There is going to be no back to normal. There's going to be a new normal. Yeah. But and but you know what, we're going to also recognize human interaction.(1:30) Introduction to Jeff MooreJeff is the director of seafood and business and business development at the Global Protein Group.In 2019, Global Protein Group, the foodservice and custom products solution division of Porky products, was one of the largest traders of beef, beef, pork, and poultry in North America generated about $2 billion in sales. Jeff is known for short-term, short-term sale cycles, the high comes convergence, value base, quantifiable Business Solutions, team building, and world-class lifelong customer and supplier relationships.Jeff is the founder of Business Development, marketing, and entrepreneurial lifestyle, and business advisory mastermind group called Thursday night boardroom, and over 800 members from 26 countries from different industries have been part of this group.Jeff is an experienced leadership coach, Speaker F is also the creator of multi-layer Strategic Initiatives involving suppliers and customers in tandem, that share a common language called value.Interview questions-(3:38)So can you tell us how you got started? What is your journey like in the business world?(3:58) Jeff talks about how he started from making $300 a week. His family bought a seafood company and in 14-15 years they started making sales of 35 million. He shares that he was invited to the original Tony Robbins, the ultimate business mastery summit in about 2009. Jeff talks about the beginning of the ‘Thursday night boardroom’. He also recalls how watching Gary Vaynerchuk keynote at the ultimate business mastery summit changed their lives.(11:08)You keep pushing yourself. So what is that drive that pushes you?(11:37) Jeff talks about what drives him and pushes him forward is the acknowledgment. He shares that doing what you love matters but acknowledging that there's going to be another level that matters the most. He is reminded of the best leader he has ever worked for and tells about a significant thing he said that made a huge impact on him. He said it's about wanting to get to another level.(14:26)You treat the business as an extension of life. Like most people say, Oh, you know, I'm going to a nine to five and I'm, I'm done but, you know, you like to complete the whole package and you encompass life and business and, and family. So tell us a little bit more about that. Where did that concept come from?(14:40) Jeff says that it's all about asking questions. He shares what the Thursday night boardroom is all about: learn to teach, teach to know, know, and share, and do it with passion. He says that we focus more when we want to share knowledge with someone else. He says we actually learn as if it's an obligation to the person we’re going to be teaching this to or sharing this. And so we listen more intently and learn a lot more.(15:25)Now, let's talk about the Thursday, like boardroom like, you, you mentioned how you started it. And I've been a part of it. And it's fascinating how people come together. And you ask them one question, which is, you know, what is your selfish ask? So how, how did that transform? Like, I mean, obviously, you started watching these videos, but tell us the journey, because I've heard some amazing stories about people who have been there and collaborations that happen and everything.(15:50) Jeff shares what selfish ask is about. He talks about what kinds of questions they ask in the Thursday night boardroom. He says that all humans suffer from the same frustration, the feeling of not being understood by someone, and how it all goes away when we meet someone who empathizes with us. They're like, Oh, like this person gets me. He says it's about proactive empathy.(21:10)You know, how people brag about you, which creates this snowball effect of your business like you, you basically don't have to market as aggressively because you have like other people marketing you, right?(22:12) Jeff says that the aggressive market to him is off-putting. And he explains further why it is so. He shares that aggressive marketing, man that is about trying to convince somebody.He also shares what Dean Jackson talked to him about a bunch of times. He asks two questions- Are you convincing? Or you have a compelling story that makes people say, I want that, I want to do business with you, and without being harassed.MIDROLL: (27:15)(28:07)And I want to mention one thing here, you know, this Thursday night boardroom can be life-changing, but it's absolutely free. You don't charge for it, and anybody can join. So I mean, is there some story behind that as well. So can you share that with us?(28:27) Jeff says that the Thursday night boardroom is a place where you can go where you feel understood. He says that it's free but there's a cost. You come to the Thursday night boardroom to share, and probably that's why it is free. He also says that it's about catching the opportunity when you are asked the question, if you don't answer, your room is lost. There, they want to hear about how you overcame your struggles and made it so far.(29:52)I know I have struggled with messaging for such a long time. And you have this framework value. So can we talk about that? A little bit? Like, what, first of all, how important is messaging, and then we can jump into value?(30:08) Jeff believes that it's about the connections that someone feels. If you don't feel comfortable with them, then all the messaging will be in vain. Even if you communicate in the most compelling way, you'll be unable to persuade someone if they don't trust you. He says that when someone shares about what you’re doing with others, it’s a really big thing. The message needs to be simple. This will enable you to engage with them and respond to their needs.(34:41)So, let's talk about this, this, this panoramic experience that we are having, and I'm sure your industry has been affected. So in your opinion, how is the economy changing? Like we are socially distant and, and things are changing? So what do you think the future of business is going to be like in this socialist economy?(35:35) Jeff feels that the post-pandemic situation is not a game-changer but an accelerator. If you don't have systems in place to monitor your business, you're going to bleed money and eventually go out of business. He says there’s no going back to normal and that there's going to be a new normal. But he also believes that people are learning better ways to interact. There needs to be a lot of creativity and collaboration while we work in the new normal.(41:10)Now, before I let you go, can you tell us how people can reach out and if they want to attend the Thursday night boardroom?(42:05) Jeff shares how one can get in the Thursday night boardroom. It starts with going to their website http://thursdaynightboardroom.com/ where they will ask you some questions and here, they will take a look at who you are, what you do, and how you can contribute and benefit from the boardroom. Then you will be added to the Facebook group and the boardroom itself. He believes Thursday night's boardroom will continue via zoom as well.CONNECT WITH ME :• LinkedIn: https://www.linkedin.com/in/manujaggarwal/ • Facebook: https://www.facebook.com/manujagro/ • Website: https://manujaggarwal.com/
7/16/2021

#224 The ultimate customer acquisition strategies

Season 1, Ep. 224
Show notes-(0.26) How companies like Alibaba and Amazon acquire popularity-Companies like Amazon, Alibaba have achieved massive scale. How did they acquire all those customers? How do they keep growing their customer base, and how do they get the customer to buy from them again, and again? Here’s how they do it-(1.20) Point 1- They shorten the consumer shopping time.These companies have realized that you'll be more likely to buy a product when it's convenient. So they use technologies like artificial intelligence, data mining, and machine learning to help them predict the products you'll like. They then make it very convenient for you to look at the product, select the product, and checkout.(2.39) Point 2- They offer low price products along with convenience.Companies like Amazon and Alibaba realize consumers are often driven by price. Price is one of the most important factors when it comes to consumer behavior. They realized that consumers are very price-conscious. So, they source from many different sources and present the best prices.(3:38) Point 3- They make accurate product recommendations.When recommending a product, Amazon and Alibaba take into account all aspects of a customer's profile to maximize the chance the customer will actually buy. Amazon and Alibaba use AI to make accurate product recommendations. They feed data into algorithms, and the algorithms return recommended products based on your profile, preferences, browsing history.(5.40) Point 4- They can accurately predict the logistics and delivery dates.Alibaba and Amazon have been using technology to integrate their own systems with third-party shippers like postal services. They have also started using their own shipping service. Amazon is investing in drone technology, which could be used to deliver products to our doorsteps.(7.39) Point 5- They influence the consumers to connect with their brand.Amazon and Alibaba know the importance of brand recognition. Amazon and Alibaba understand human psychology, consumer behavior, and they use their knowledge to influence consumers. Amazon and Alibaba use product variety and other consumer-friendly strategies to make people more connected to their brands.(9:14) Why you should include AI in your planning and execution-If you haven't looked into AI and other technologies to grow your customer base, you need to consider making changes today. I encourage you to include AI in your planning for your marketing strategy, business strategy, for operations when optimizing sales and optimizing pricing which can be optimized using the power of AI.ツ CONNECT WITH ME ツLeave a comment on this video and it'll get a response. Or you can connect with me on different social platforms too:• LinkedIn: https://www.linkedin.com/in/manujaggarwal/ • Facebook: https://www.facebook.com/manujagro/ • Website: https://manujaggarwal.com/
7/14/2021

#223 Can AI win wars? | General David Petraeus | Manuj Aggarwal

Season 1, Ep. 223
Shownotes:(0:01) Highlights of the episode(0:01)- A lot of what we do is to be like someone we admire or individuals we admire, and that's what prompted that decision.(0:10)- There are very, very bright people in the world who don't see it at all the same way that I do, or that many in uniform way.(0:17)- People who don't seem to see the world the same way you do can still be exceedingly bright, and exceedingly well informed.(0:25)- Cyberspace is a new entire domain of warfare without question.(1:01) A brief introduction to General David PetraeusGeneral Petraeus, has served in the US military for 37 years, including tours in cold war Europe, United States, Central America, Heidi, Bosnia, Kuwait, Iraq, Afghanistan, and the greater Middle East.He culminated his military service with six consecutive commands as a general officer, five of which were in combat, including command of the 101st Airborne Division, Air Assault during the fight to Baghdad, and the first year in Iraq multinational security transition command Iraq over 15 subsequent months multinational forces Iraq during the surge from February 2007, to September 2008.US Central Command from 2008 to 2010, and the International Security Assistance Force in Afghanistan from 2010 to 2011.General Petraeus graduated with distinction from the US Military Academy, subsequently earned a Ph.D. from Princeton University, and has held academic appointments at six universities.He has received numerous US military State Department, NATO, and UN medals, including four Defence Distinguished Service Medals, the Bronze Star Medal for valor, and the Combat Action Badge and he has been decorated by 13 foreign countries.Following his service in the military, General Petraeus served as the director of the CIA, leading the agency through a period that saw significant achievements in the global counterterrorism effort, development of a strategic plan for the agency, and an initiative to increase worldwide human intelligence coverage.General Petraeus joined KKR in June, June 2013, as chairman of the KKR Global Institute, he went on to become a partner at KKR in December 2014. The Global Institute supports the KKR investment process and KKR portfolio companies with analysis of geopolitical macroeconomic, environmental, social, and governance issues.General Petraeus is also a member of the board of directors at successful companies like optive and onestream. General Petraeus is also a successful venture capitalist himself, a visiting fellow at Yale University's Jackson center, and an honorary professor of international security at the University of Birmingham, England.(3:44) Question 1 -Can you just recall a few incidents which may have had a significant impact on you, the direction of your career, any mentor you met, any meetings, chance meetings that you had?(4:03) General David Petraeus talks about what inspired him to join the military, and shares stories that profoundly affected his life. He shares his experiences of working with people who had different opinions than him, and how that opened up his perspective.He also shares the incident of him getting shot.(18:25) Question 2-Going into combat going into the real field is very different from learning on the job. So, did you find any lessons that you learned or anything that you recall that was quite different in the field than what you learn in the academy?(18:54) General David Petraeus talks about how real combat is different from lessons taught at the academy and talks about how in actual combat there are real casualties, soldiers get severely hurt, even killed. And how that's something you need to be prepared for, make as few mistakes as possible, do everything you can to mitigate the risks.(22:55) Question 3-How did you build up that mental strength to manage a war where, it's not even about the property, but it has hundreds of 1000s of lives at stake. How did you make decisions without getting bogged down by that weight on your shoulders?(23:30) While sharing an experience, General David Petraeus talks about how everyone contributes to the mission and how they effectively develop their strategies for the future. He explains that the most important surge was not a literal surge of forces, but a conceptual surge of ideas and strategies.26:50- Midroll(27:42) Question 4 -So from your experiences, do you think these types of conflicts are necessary? Do you think there's going to be a time in humanity's lives where we may not have any war or maybe even the war that is carried on is bloodless?(28:09) General Petraeus hopes there will be less warfare in the future. He feels that the best way to solve problems is through discussion. However, he also feels that sometimes a discussion cannot prevent a country from developing nuclear weapons or prevent terrorist attacks.(31:39) Question 5 -I was watching one of your interviews and where you know, you were emphasizing the need to leverage technology AI. So that's what I also meant, like, do you think the conflict will stay but the nature of conflict will change to more sort of cyberwar? Do you see that coming?(31:59) General Petraeus notes that cyberspace is a new domain of warfare. Petraeus mentions the difficulty of determining how well you're doing in a cyberwar and the increasing usage of unmanned systems in warfare. General Petraeus has also discussed whether there might be robots fighting robots on the real battlefield in coming years.(39:29) Question 6-What are some of the things that you can share about things you have learned in the private sector versus the military, and are moving forward? How do you think this socially distant economy is going to affect business?(39:40) General David Petraeus offers a fresh perspective on the future of business following the outbreak of a pandemic and shares insights on business meetings and business trips post-pandemic. He believes that the old normal is not going to come back and that there’s a need to get adapted to the new normal. He also shares his definition of luck.(44:38) Question 7-Are there any major sort of differences you've noticed between the private sector and the military and any lessons you can share with the audience?(44:47) General David Petraeus shares about his journey from being in the military to moving towards the business industry and also gives important life lessons on embracing change and opportunities. Petraeus shares how great his experience was in the military and how great and competitive the business world is.(50:32) Question 8-After the military kicker, you're also involved in some other causes. I would love to get a few names of the causes that you are most passionate about, and what can we do to move that call forward?(51:01) General Petraeus mentions a number of organizations he supports that are working towards a better world. He also mentions the Institute for the Study of War, which is establishing a Petraeus Center within it to develop future talents. He also talks about the academic appointments he has had and virtual activities he is doing that bring in happiness and enthusiasm.Links to foundations👉children of fallen patriots:https://www.fallenpatriots.org/👉Veterans of America:https://vva.org/👉Wounded Warrior program:https://www.woundedwarriorproject.org/programs👉Team Rubicon:https://teamrubiconusa.org/👉Institute for the study of war where the Petraeus center is being built: http://www.understandingwar.org/CONNECT WITH ME :• LinkedIn: https://www.linkedin.com/in/manujaggarwal/ • Facebook: https://www.facebook.com/manujagro/ • Website: https://manujaggarwal.com/