hello and welcome back to this week's
 
 0:00:02.040,0:00:08.820
 edition of the Omni talk Fast Five it's
 
 0:00:04.140,0:00:11.370
 January 10th 2020 this is our first Fast
 
 0:00:08.820,0:00:14.759
 Five podcast of the year and I am joined
 
 0:00:11.370,0:00:16.440
 as always by my compatriots and Mozingo
 
 0:00:14.759,0:00:18.630
 on my left for those watching at home
 
 0:00:16.440,0:00:20.310
 and Carter Jensen across the table how
 
 0:00:18.630,0:00:21.090
 you guys doing today I'm glad you said
 
 0:00:20.310,0:00:22.769
 in 20
 
 0:00:21.090,0:00:24.810
 I've written 19 at least three times
 
 0:00:22.769,0:00:26.160
 today hopefully not on checks I guess
 
 0:00:24.810,0:00:28.019
 that's like a really horrible thing to
 
 0:00:26.160,0:00:30.449
 do for some reason all the checks you
 
 0:00:28.019,0:00:32.399
 write yeah cool yeah I can't figure that
 
 0:00:30.449,0:00:34.140
 out exactly because like you dated it in
 
 0:00:32.399,0:00:36.510
 the past like I can't understand like
 
 0:00:34.140,0:00:38.460
 why that matters but but anyway it's
 
 0:00:36.510,0:00:48.450
 every article out there right now sure
 
 0:00:38.460,0:00:51.300
 exactly what 2020 bar very low so we can
 
 0:00:48.450,0:00:52.920
 continue to surpass expectations on
 
 0:00:51.300,0:00:54.329
 every episode it's nice that we're
 
 0:00:52.920,0:00:55.890
 starting off on the right foot though
 
 0:00:54.329,0:00:58.530
 I'm getting a lot of friendly ribbing
 
 0:00:55.890,0:01:01.379
 which is good but hey we got a big week
 
 0:00:58.530,0:01:03.660
 coming up here guys NRF next week in New
 
 0:01:01.379,0:01:05.040
 York City I hear the weather's actually
 
 0:01:03.660,0:01:07.619
 gonna be quite balmy I was told it's
 
 0:01:05.040,0:01:10.500
 gonna be about 60 degrees on no way yes
 
 0:01:07.619,0:01:13.380
 way Jeremy and Erin grocery key CEO
 
 0:01:10.500,0:01:15.780
 informed me of that very fact that my
 
 0:01:13.380,0:01:20.369
 packing from checks to the weather
 
 0:01:15.780,0:01:27.829
 what's next I know that is fantastic
 
 0:01:20.369,0:01:30.360
 no but I'm CRO DS reference can we come
 
 0:01:27.829,0:01:30.840
 but I'm pumped we've got it we just got
 
 0:01:30.360,0:01:32.729
 it we've got it
 
 0:01:30.840,0:01:34.350
 we're busy I'll say that but I've got a
 
 0:01:32.729,0:01:35.970
 killer lineup coming so you guys the
 
 0:01:34.350,0:01:37.619
 schedule is insane is that one's a fun
 
 0:01:35.970,0:01:39.509
 to look at there's a lot of cool content
 
 0:01:37.619,0:01:41.369
 coming out but I think our listeners are
 
 0:01:39.509,0:01:42.899
 gonna really love it should be a ton of
 
 0:01:41.369,0:01:44.250
 fun absolutely if I have time I actually
 
 0:01:42.899,0:01:47.369
 want to put it out on social media but
 
 0:01:44.250,0:01:49.350
 here's a quick rundown hosting a panel
 
 0:01:47.369,0:01:51.090
 discard not hosting a panel I'm actually
 
 0:01:49.350,0:01:54.149
 moderating a panel discussion or
 
 0:01:51.090,0:01:58.979
 interviews kind of style at NRF at 4
 
 0:01:54.149,0:02:00.869
 o'clock about robotics with the CEO of
 
 0:01:58.979,0:02:03.869
 badger technologies as well as a
 
 0:02:00.869,0:02:05.159
 gentleman from well worse and then then
 
 0:02:03.869,0:02:06.450
 throughout the week we have some great
 
 0:02:05.159,0:02:08.729
 podcasts lined up we're actually going
 
 0:02:06.450,0:02:10.860
 to do a podcast with them as well we
 
 0:02:08.729,0:02:12.950
 have a podcast with represented from
 
 0:02:10.860,0:02:15.950
 Walmart from Canada Goose
 
 0:02:12.950,0:02:18.800
 gap all on the docket for this week so
 
 0:02:15.950,0:02:21.230
 we are pretty pumped we're also going to
 
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 do a podcast with market beyond on their
 
 0:02:21.230,0:02:24.260
 holiday data that we've been sharing
 
 0:02:22.610,0:02:25.850
 we're gonna go deeper into that talk to
 
 0:02:24.260,0:02:28.310
 them about what we saw across Walmart
 
 0:02:25.850,0:02:30.080
 Amazon and wait for it target as well
 
 0:02:28.310,0:02:32.600
 for those loyal listeners here in
 
 0:02:30.080,0:02:35.900
 Minneapolis and that's the who won right
 
 0:02:32.600,0:02:37.700
 yeah okay won the season yeah those are
 
 0:02:35.900,0:02:39.050
 good and we're gonna have some target
 
 0:02:37.700,0:02:40.480
 data to throw in there it's gonna be fun
 
 0:02:39.050,0:02:43.390
 exciting so be sure to check that out
 
 0:02:40.480,0:02:45.230
 and make sure that you're signed up as a
 
 0:02:43.390,0:02:47.480
 subscriber to army talk so you don't
 
 0:02:45.230,0:02:48.920
 miss that and follow us on LinkedIn and
 
 0:02:47.480,0:02:51.260
 then we drop some hot podcast this week
 
 0:02:48.920,0:02:52.550
 too and so you dropped the I know I just
 
 0:02:51.260,0:02:55.400
 said dropped it like it's hot again
 
 0:02:52.550,0:02:57.650
 thanks guys but you dropped a Beeler's
 
 0:02:55.400,0:03:00.140
 mean yeah so I mean talk listeners now
 
 0:02:57.650,0:03:02.660
 have access to my interview with the
 
 0:03:00.140,0:03:05.780
 hotel haze chief human resources officer
 
 0:03:02.660,0:03:08.030
 a Beeler's man she was amazing some
 
 0:03:05.780,0:03:11.209
 really again these women are just
 
 0:03:08.030,0:03:12.830
 bringing it with the good advice for
 
 0:03:11.209,0:03:15.170
 those of us who are you know just
 
 0:03:12.830,0:03:16.190
 entering our retail careers or who have
 
 0:03:15.170,0:03:19.430
 been in there for a little bit to really
 
 0:03:16.190,0:03:21.650
 kind of help us turn the corner so Abbie
 
 0:03:19.430,0:03:23.360
 lures men now live on AMI talk yeah that
 
 0:03:21.650,0:03:25.580
 was a huge gap I mean that was it's
 
 0:03:23.360,0:03:27.019
 awesome I can't wait to can't wait to
 
 0:03:25.580,0:03:29.360
 see what the response is on that one and
 
 0:03:27.019,0:03:32.750
 then we also dropped Carter just for you
 
 0:03:29.360,0:03:34.640
 as I roll yes
 
 0:03:32.750,0:03:36.170
 we also dropped a couple cool podcasts
 
 0:03:34.640,0:03:38.570
 one with happy returns and their
 
 0:03:36.170,0:03:39.799
 co-founder and CEO David so be you want
 
 0:03:38.570,0:03:41.810
 to talk about one that blows your mind
 
 0:03:39.799,0:03:43.130
 shout out to my buddy oven Bonsall who
 
 0:03:41.810,0:03:45.739
 listened to it this morning and said
 
 0:03:43.130,0:03:47.390
 like wow I never knew that all those
 
 0:03:45.739,0:03:49.970
 things could be done off of returns
 
 0:03:47.390,0:03:52.120
 coming out of everything David described
 
 0:03:49.970,0:03:55.519
 and then of course we also did a podcast
 
 0:03:52.120,0:03:58.310
 this week as well with with badger
 
 0:03:55.519,0:04:01.340
 technologies heading into the event all
 
 0:03:58.310,0:04:02.989
 about how robotics is shaping the future
 
 0:04:01.340,0:04:05.330
 of retail specifically for all the
 
 0:04:02.989,0:04:07.700
 in-store tasks that need to be done so
 
 0:04:05.330,0:04:09.500
 also one to give a listen to when you
 
 0:04:07.700,0:04:11.090
 have time so Carter you're gonna be out
 
 0:04:09.500,0:04:12.620
 there you excited about anything to ya
 
 0:04:11.090,0:04:13.880
 know be super fun we're gonna overlap a
 
 0:04:12.620,0:04:15.049
 little bit I'm actually taking a little
 
 0:04:13.880,0:04:17.209
 bit of a different path I'll be
 
 0:04:15.049,0:04:19.100
 attending PSF Kay's future of retail
 
 0:04:17.209,0:04:21.049
 conference which is just at the tail end
 
 0:04:19.100,0:04:23.060
 of n RI thing goes through Thursday a
 
 0:04:21.049,0:04:25.250
 ton of awesome tech startups ton of
 
 0:04:23.060,0:04:26.240
 awesome dtc companies all coming
 
 0:04:25.250,0:04:27.860
 together I think
 
 0:04:26.240,0:04:29.750
 we have 30 42 words all lined up
 
 0:04:27.860,0:04:31.340
 throughout Manhattan and then it's
 
 0:04:29.750,0:04:32.780
 culminates with a great event on
 
 0:04:31.340,0:04:35.479
 Wednesday where we have some great
 
 0:04:32.780,0:04:37.220
 speakers and then also the retail demo
 
 0:04:35.479,0:04:38.930
 day as well so it's me a ton of fun I
 
 0:04:37.220,0:04:40.400
 think it'll be fun that you guys are NRF
 
 0:04:38.930,0:04:42.039
 I'll take on this side of things and
 
 0:04:40.400,0:04:44.720
 will culminate all back together and
 
 0:04:42.039,0:04:46.460
 recap what we all learn but there's an
 
 0:04:44.720,0:04:47.990
 event on Thursday to Chris that you're
 
 0:04:46.460,0:04:49.940
 you're doing that you're kind of
 
 0:04:47.990,0:04:51.229
 recapping some of the the NRF findings
 
 0:04:49.940,0:04:52.849
 is that right that's right yeah actually
 
 0:04:51.229,0:04:54.110
 thanks for bringing that up I almost
 
 0:04:52.849,0:04:55.729
 completely forgot about that yeah so on
 
 0:04:54.110,0:04:56.720
 Thursday afternoon at 4 o'clock if
 
 0:04:55.729,0:04:58.520
 you're here in Minneapolis
 
 0:04:56.720,0:05:00.590
 well actually videotape it as well so if
 
 0:04:58.520,0:05:02.120
 you want to go on a third house and get
 
 0:05:00.590,0:05:03.889
 access to that content go ahead and sign
 
 0:05:02.120,0:05:05.389
 up but gonna be doing a stand-up you
 
 0:05:03.889,0:05:07.970
 know a traditional kind of stand-up that
 
 0:05:05.389,0:05:09.020
 you see you know traditionally but I'm
 
 0:05:07.970,0:05:11.810
 just gonna stand up we're going to talk
 
 0:05:09.020,0:05:12.770
 about everything we saw at NRF and I'm
 
 0:05:11.810,0:05:14.330
 just gonna open the floor to questions
 
 0:05:12.770,0:05:18.259
 take any questions business-related
 
 0:05:14.330,0:05:19.729
 personal it doesn't matter I may or may
 
 0:05:18.259,0:05:22.009
 not answer it but you can ask whatever
 
 0:05:19.729,0:05:23.509
 the heck you want there are no limits
 
 0:05:22.009,0:05:25.610
 I like this we might have to come up
 
 0:05:23.509,0:05:27.169
 with some Carter to kick it off I was
 
 0:05:25.610,0:05:29.210
 gonna say there'll be a 10-second delay
 
 0:05:27.169,0:05:34.789
 on the live feed just to make sure
 
 0:05:29.210,0:05:36.440
 everything's all right all right well
 
 0:05:34.789,0:05:38.330
 let's kick it off this week let's give a
 
 0:05:36.440,0:05:40.789
 shout out of course to our sponsor tree
 
 0:05:38.330,0:05:42.349
 go tree go helps grocers unlock the true
 
 0:05:40.789,0:05:43.940
 beauty of brick-and-mortar retailing by
 
 0:05:42.349,0:05:46.240
 designing a magical checkout free
 
 0:05:43.940,0:05:49.039
 experience using computer vision and a I
 
 0:05:46.240,0:05:51.349
 together with Tesco Trego is now
 
 0:05:49.039,0:05:55.849
 building the largest checkout free store
 
 0:05:51.349,0:05:59.930
 ever built and should I kick us off you
 
 0:05:55.849,0:06:02.659
 have the honors all right so according
 
 0:05:59.930,0:06:05.270
 to vice new york is proposing a bill
 
 0:06:02.659,0:06:07.819
 that would create a public vendo of
 
 0:06:05.270,0:06:10.069
 sorts it's a new digital currency that
 
 0:06:07.819,0:06:12.169
 they're proposing called the inclusive
 
 0:06:10.069,0:06:13.969
 value ledger now I just want to preface
 
 0:06:12.169,0:06:17.419
 for our audience like this concept has
 
 0:06:13.969,0:06:20.690
 been around for a while in New York it's
 
 0:06:17.419,0:06:22.069
 a very complex thing but we really
 
 0:06:20.690,0:06:23.389
 wanted to make sure that it was part of
 
 0:06:22.069,0:06:24.979
 the headlines this week should be clear
 
 0:06:23.389,0:06:28.639
 the concepts you are just a general
 
 0:06:24.979,0:06:30.830
 proposal idea the concept the proposal I
 
 0:06:28.639,0:06:33.080
 think one of one of my issues with this
 
 0:06:30.830,0:06:35.960
 headline was that it really kind of
 
 0:06:33.080,0:06:38.150
 dumbs it down to like this public venmo
 
 0:06:35.960,0:06:39.620
 and there's a lot more to it so I would
 
 0:06:38.150,0:06:42.220
 refer audience to
 
 0:06:39.620,0:06:45.500
 read the full article and vise or go to
 
 0:06:42.220,0:06:47.990
 qns comm where you have the bill authors
 
 0:06:45.500,0:06:49.340
 actually really going in-depth and
 
 0:06:47.990,0:06:53.270
 there's a white paper and everything but
 
 0:06:49.340,0:06:56.240
 the the essence of it is that lawmakers
 
 0:06:53.270,0:06:58.820
 and activists are proposing a digital
 
 0:06:56.240,0:07:00.500
 currency that will help nearly 14
 
 0:06:58.820,0:07:03.350
 million New Yorkers who don't have bank
 
 0:07:00.500,0:07:06.130
 accounts now this is designed to try to
 
 0:07:03.350,0:07:09.080
 help people who are typically on or or
 
 0:07:06.130,0:07:10.910
 underpaid so this is for things like you
 
 0:07:09.080,0:07:12.650
 know your you are in the neighborhood
 
 0:07:10.910,0:07:15.289
 you make food for the lady down the hall
 
 0:07:12.650,0:07:17.750
 and the next apartment you are doing
 
 0:07:15.289,0:07:20.060
 mentoring tutoring childcare so services
 
 0:07:17.750,0:07:22.130
 that people aren't getting paid for or
 
 0:07:20.060,0:07:24.229
 maybe are making a very small stipend
 
 0:07:22.130,0:07:26.740
 for so the way that they're creating
 
 0:07:24.229,0:07:30.530
 this digital currency is they're taking
 
 0:07:26.740,0:07:33.620
 its fifty five million dollars sorry
 
 0:07:30.530,0:07:36.080
 fifty five billion dollars in New York
 
 0:07:33.620,0:07:38.300
 state tax credits that are not claimed
 
 0:07:36.080,0:07:41.690
 that they're putting into these digital
 
 0:07:38.300,0:07:44.389
 accounts so every New Yorker would have
 
 0:07:41.690,0:07:47.419
 this platform and they can use that
 
 0:07:44.389,0:07:50.360
 platform to pay for goods and services
 
 0:07:47.419,0:07:52.460
 so food rent medical expenses it
 
 0:07:50.360,0:07:54.200
 basically opens up kind of a secondary
 
 0:07:52.460,0:07:55.099
 form of currency similar to
 
 0:07:54.200,0:07:56.720
 cryptocurrency
 
 0:07:55.099,0:07:58.849
 our listeners might be more familiar
 
 0:07:56.720,0:08:01.130
 with that but it's designed to kind of
 
 0:07:58.849,0:08:02.720
 use within the individual neighborhoods
 
 0:08:01.130,0:08:04.099
 so you think about like a neighborhood
 
 0:08:02.720,0:08:06.440
 or community within one of the
 
 0:08:04.099,0:08:08.449
 neighborhoods in New York now people who
 
 0:08:06.440,0:08:09.650
 maybe are elderly it's there's a lot of
 
 0:08:08.449,0:08:11.690
 women who are at playing these roles
 
 0:08:09.650,0:08:15.050
 where they're doing these these
 
 0:08:11.690,0:08:17.210
 caretaking or lower paid or unpaid jobs
 
 0:08:15.050,0:08:18.590
 now have a form of currency through
 
 0:08:17.210,0:08:22.250
 these tax credits that they can then go
 
 0:08:18.590,0:08:24.169
 into their local bodega or or pay for
 
 0:08:22.250,0:08:26.780
 rent or other things with this digital
 
 0:08:24.169,0:08:29.840
 currency so it's a fascinating idea it
 
 0:08:26.780,0:08:30.770
 is yeah it's there's a lot there Picardo
 
 0:08:29.840,0:08:32.089
 what do you think about this one this
 
 0:08:30.770,0:08:34.789
 one's more in your will yeah you know
 
 0:08:32.089,0:08:36.110
 anyways I loved it and then I hated it
 
 0:08:34.789,0:08:38.060
 and I loved it and then I hated it it's
 
 0:08:36.110,0:08:39.260
 hard to love it you know it's I come on
 
 0:08:38.060,0:08:41.000
 both sides of this and here's the thing
 
 0:08:39.260,0:08:42.440
 the concept is I absolutely love the
 
 0:08:41.000,0:08:44.180
 concept I think it's amazing I think if
 
 0:08:42.440,0:08:45.260
 anyone can do it is New York City
 
 0:08:44.180,0:08:47.300
 alright they did the whole thing with
 
 0:08:45.260,0:08:49.310
 the taxi a few years ago where they had
 
 0:08:47.300,0:08:51.530
 a competition of who could build really
 
 0:08:49.310,0:08:53.000
 the most intuitive app to to kind of
 
 0:08:51.530,0:08:54.320
 combat uber that
 
 0:08:53.000,0:08:56.120
 thing is is that what we have to be
 
 0:08:54.320,0:08:58.490
 really careful of his wind it's a
 
 0:08:56.120,0:09:00.620
 digitally based currency where you
 
 0:08:58.490,0:09:02.780
 access it and use it through digital
 
 0:09:00.620,0:09:04.040
 platforms and then we pair that with
 
 0:09:02.780,0:09:06.110
 some of those vulnerable members of our
 
 0:09:04.040,0:09:09.860
 community who often don't have access or
 
 0:09:06.110,0:09:12.290
 the education in terms of of using that
 
 0:09:09.860,0:09:14.780
 I want to make sure that and if anyone
 
 0:09:12.290,0:09:16.790
 can do it once again it's New York but
 
 0:09:14.780,0:09:18.230
 how do you not only provide communities
 
 0:09:16.790,0:09:20.780
 with this asset but how do you make it
 
 0:09:18.230,0:09:24.050
 incredibly accessible easy to use and
 
 0:09:20.780,0:09:25.760
 and and readied you know so I would just
 
 0:09:24.050,0:09:28.210
 hate to see this roll out and have it be
 
 0:09:25.760,0:09:31.150
 so complex and not have the user in mind
 
 0:09:28.210,0:09:33.140
 you know with apps and smartphones and
 
 0:09:31.150,0:09:35.000
 passwords and all that kind of stuff
 
 0:09:33.140,0:09:36.170
 where no one ever actually uses it
 
 0:09:35.000,0:09:38.240
 because no one actually knows how to
 
 0:09:36.170,0:09:40.070
 access it one of the one of the great
 
 0:09:38.240,0:09:42.560
 things about venmo or PayPal or whatever
 
 0:09:40.070,0:09:45.260
 is the fact that they've spent hundreds
 
 0:09:42.560,0:09:47.480
 of millions of dollars building the best
 
 0:09:45.260,0:09:49.730
 applications the best user interfaces
 
 0:09:47.480,0:09:52.730
 the best infrastructure to make sure
 
 0:09:49.730,0:09:54.770
 that the use is so so so easy can a
 
 0:09:52.730,0:09:57.080
 government entity do the same thing and
 
 0:09:54.770,0:09:59.990
 that's the question I worry that the
 
 0:09:57.080,0:10:01.670
 idea is there but if the user interface
 
 0:09:59.990,0:10:03.860
 and the really thought isn't through the
 
 0:10:01.670,0:10:06.430
 entire consumer experience this is gonna
 
 0:10:03.860,0:10:08.870
 fall flat and it's gonna be really sad
 
 0:10:06.430,0:10:10.850
 just a modern-day version of the printed
 
 0:10:08.870,0:10:13.070
 dollar I don't I don't know like that's
 
 0:10:10.850,0:10:14.510
 what's so crazy boy I guess the I'm
 
 0:10:13.070,0:10:16.190
 curious and maybe this is something
 
 0:10:14.510,0:10:18.830
 that's within the cards but could they
 
 0:10:16.190,0:10:21.310
 partner with a bank of sorts I know
 
 0:10:18.830,0:10:23.780
 that's going exactly opposite but
 
 0:10:21.310,0:10:26.089
 pushing aside some of the standard
 
 0:10:23.780,0:10:27.500
 limitations that banks do provide to
 
 0:10:26.089,0:10:29.660
 some of these community members that are
 
 0:10:27.500,0:10:33.970
 in focus but could they partner with a
 
 0:10:29.660,0:10:36.620
 bank to use their infrastructure
 
 0:10:33.970,0:10:39.770
 entity that has already proven to be
 
 0:10:36.620,0:10:41.420
 successful in terms of payments to do
 
 0:10:39.770,0:10:42.589
 this and what do you think about this I
 
 0:10:41.420,0:10:46.030
 mean you're generally the one that wears
 
 0:10:42.589,0:10:48.920
 the tinfoil hat on this type of stuff so
 
 0:10:46.030,0:10:50.690
 it's hard to it's hard to comment on
 
 0:10:48.920,0:10:52.220
 this without getting too political I
 
 0:10:50.690,0:10:55.970
 think because Carter brings up a lot of
 
 0:10:52.220,0:10:57.680
 good points you are dealing with a
 
 0:10:55.970,0:11:01.280
 population that especially if they're
 
 0:10:57.680,0:11:03.950
 unpaid or underpaid to to assume a bank
 
 0:11:01.280,0:11:07.020
 yeah or unbanked yeah completely I think
 
 0:11:03.950,0:11:09.300
 yeah so I think to assume that
 
 0:11:07.020,0:11:11.040
 you have a piece of technology or to
 
 0:11:09.300,0:11:14.610
 figure out a way to logistical II make
 
 0:11:11.040,0:11:16.050
 this work is really complex but there's
 
 0:11:14.610,0:11:18.780
 a ton of people that are getting behind
 
 0:11:16.050,0:11:21.210
 this and I I guess for me I think it's
 
 0:11:18.780,0:11:23.670
 still there's still a lot to learn about
 
 0:11:21.210,0:11:25.590
 just how it's gonna work out and how
 
 0:11:23.670,0:11:27.870
 people are you know another big part of
 
 0:11:25.590,0:11:29.100
 it is to give people the ability in
 
 0:11:27.870,0:11:32.280
 these communities to transfer money
 
 0:11:29.100,0:11:34.110
 between one another and I just I think
 
 0:11:32.280,0:11:38.070
 that's still gonna be really hard to get
 
 0:11:34.110,0:11:41.640
 around like not having cash or how how
 
 0:11:38.070,0:11:43.920
 the government is in charge here's an
 
 0:11:41.640,0:11:46.530
 idea though like why wouldn't you look
 
 0:11:43.920,0:11:49.440
 at a venmo alright and eliminate the
 
 0:11:46.530,0:11:50.940
 barrier that is in place for the
 
 0:11:49.440,0:11:53.610
 community that are in focus up so people
 
 0:11:50.940,0:11:55.290
 who are unbanked and say you know what
 
 0:11:53.610,0:11:56.370
 you don't need to enter a Wells Fargo
 
 0:11:55.290,0:11:58.410
 account you don't need to enter your
 
 0:11:56.370,0:12:00.870
 u.s. bank account you don't need to take
 
 0:11:58.410,0:12:03.180
 a picture of your ID we will provide a
 
 0:12:00.870,0:12:04.440
 government bank address it's going to
 
 0:12:03.180,0:12:05.790
 work and we're gonna partner with venmo
 
 0:12:04.440,0:12:07.950
 to make sure everything is clean and
 
 0:12:05.790,0:12:09.990
 clear and you know what we will just
 
 0:12:07.950,0:12:11.820
 give you the key to unlock that barrier
 
 0:12:09.990,0:12:13.950
 and then everything else is in venmo and
 
 0:12:11.820,0:12:16.470
 venmo gets paid because they like
 
 0:12:13.950,0:12:18.840
 everyone else have 55 billion dollars
 
 0:12:16.470,0:12:20.220
 they're making interest on but they take
 
 0:12:18.840,0:12:21.690
 care of the infrastructure they take
 
 0:12:20.220,0:12:23.310
 care of the transaction they take care
 
 0:12:21.690,0:12:25.140
 of the users they take care of the
 
 0:12:23.310,0:12:27.330
 support they've already proven they can
 
 0:12:25.140,0:12:29.250
 do it so why does the government come in
 
 0:12:27.330,0:12:30.780
 and do what they're good at and unlock
 
 0:12:29.250,0:12:32.280
 that and eliminate the barriers that
 
 0:12:30.780,0:12:34.530
 they're trying to eliminate instead of
 
 0:12:32.280,0:12:35.880
 recreating the entire wheel yeah I think
 
 0:12:34.530,0:12:37.350
 in essence that's the important part of
 
 0:12:35.880,0:12:38.970
 this story I think you know as we were
 
 0:12:37.350,0:12:40.740
 deciding the topics today I think that
 
 0:12:38.970,0:12:42.210
 was what we came down on regardless of
 
 0:12:40.740,0:12:43.830
 whether it's a good idea or a bad idea
 
 0:12:42.210,0:12:45.750
 that's not what really matters the fact
 
 0:12:43.830,0:12:47.070
 is it's an idea and it's an idea that
 
 0:12:45.750,0:12:48.330
 gets a lot of press I think when you
 
 0:12:47.070,0:12:49.230
 look at this idea against some of the
 
 0:12:48.330,0:12:51.120
 other things that are coming out of
 
 0:12:49.230,0:12:52.860
 California too there's just it's just an
 
 0:12:51.120,0:12:54.270
 it's very implementing of the fact that
 
 0:12:52.860,0:12:55.200
 things are about to change and I
 
 0:12:54.270,0:12:56.400
 wouldn't be surprised Carter to your
 
 0:12:55.200,0:12:57.840
 point if the people have been motor
 
 0:12:56.400,0:12:59.580
 having that exact conversation right now
 
 0:12:57.840,0:13:00.780
 about holy crap what do we do if this
 
 0:12:59.580,0:13:03.180
 type of thing starts to work and it
 
 0:13:00.780,0:13:04.830
 starts to sprout and from a retailer
 
 0:13:03.180,0:13:06.300
 perspective which is what we do focusing
 
 0:13:04.830,0:13:07.890
 on the future and trying to be in front
 
 0:13:06.300,0:13:09.630
 of the curve on the things our listeners
 
 0:13:07.890,0:13:12.060
 need to know about should know about and
 
 0:13:09.630,0:13:13.740
 pay attention to it shows you that
 
 0:13:12.060,0:13:15.390
 there's movements starting to happen in
 
 0:13:13.740,0:13:17.640
 terms of digital currency and how easy
 
 0:13:15.390,0:13:19.830
 we can can transact and that's going to
 
 0:13:17.640,0:13:20.510
 start to impact physical retail as well
 
 0:13:19.830,0:13:22.970
 as digital
 
 0:13:20.510,0:13:25.430
 for it so alright let's move on to Story
 
 0:13:22.970,0:13:27.290
 number two so story number two comes a
 
 0:13:25.430,0:13:28.790
 CES which we are not at this year which
 
 0:13:27.290,0:13:32.090
 is totally ok extra-- tracking
 
 0:13:28.790,0:13:34.100
 everything very closely here's it's wild
 
 0:13:32.090,0:13:36.530
 like I've heard it's just crazy seen
 
 0:13:34.100,0:13:38.450
 I've gone six seven years of the past
 
 0:13:36.530,0:13:40.970
 ten and it's like hit and miss hitting
 
 0:13:38.450,0:13:42.950
 this last year I went you know we didn't
 
 0:13:40.970,0:13:44.870
 see anything that great and ultimately
 
 0:13:42.950,0:13:45.920
 we actually can stay closer to some of
 
 0:13:44.870,0:13:47.780
 the innovations that are coming out of
 
 0:13:45.920,0:13:50.180
 that conference by not being there right
 
 0:13:47.780,0:13:51.980
 which is crazy but ultimately Amazon had
 
 0:13:50.180,0:13:54.230
 a huge showing specifically in the auto
 
 0:13:51.980,0:13:56.090
 space so Amazon is expanding the
 
 0:13:54.230,0:13:58.070
 availability of Alexa voice assistant
 
 0:13:56.090,0:13:59.600
 outside of the home letting drivers use
 
 0:13:58.070,0:14:02.690
 the voice commands to ask for directions
 
 0:13:59.600,0:14:05.450
 and even yes pay for gas
 
 0:14:02.690,0:14:07.520
 so as lux is already available in dozens
 
 0:14:05.450,0:14:10.640
 of vehicles from automakers like Audi
 
 0:14:07.520,0:14:12.110
 BMW Ford and Toyota they announced
 
 0:14:10.640,0:14:14.330
 integration this is big especially for
 
 0:14:12.110,0:14:16.520
 you Kristin those hits home integrations
 
 0:14:14.330,0:14:18.260
 within your Lamborghini right just so
 
 0:14:16.520,0:14:20.360
 you know because Lamborghini without
 
 0:14:18.260,0:14:24.200
 Alexa you make you make Alexa for
 
 0:14:20.360,0:14:25.370
 Matchbox cars now but ultimately what
 
 0:14:24.200,0:14:26.600
 Amazon is doing these are looking to
 
 0:14:25.370,0:14:28.940
 figure out how do they integrate more
 
 0:14:26.600,0:14:30.440
 within the space outside of the home and
 
 0:14:28.940,0:14:32.000
 from my personal opinion they're trying
 
 0:14:30.440,0:14:34.520
 to figure out how does it Alexa how does
 
 0:14:32.000,0:14:36.080
 Amazon be a constant layer in your daily
 
 0:14:34.520,0:14:37.490
 life and is gonna do that by adding
 
 0:14:36.080,0:14:39.200
 value so they're trying to figure out
 
 0:14:37.490,0:14:41.810
 how are we unlocking things like paying
 
 0:14:39.200,0:14:43.940
 for gas in the Amazon platform within
 
 0:14:41.810,0:14:45.140
 your car now as many know Amazon has a
 
 0:14:43.940,0:14:46.670
 standalone product that you could
 
 0:14:45.140,0:14:48.500
 integrate within your car similar to
 
 0:14:46.670,0:14:51.710
 having a phone on the dashboard just
 
 0:14:48.500,0:14:53.690
 sits there on a vent mount and and it's
 
 0:14:51.710,0:14:55.730
 powerful it's just powerful isn't amazon
 
 0:14:53.690,0:14:57.710
 your car but when you look at different
 
 0:14:55.730,0:14:59.450
 things like being hands-free choosing
 
 0:14:57.710,0:15:00.830
 entertainment everything from they even
 
 0:14:59.450,0:15:02.660
 mentioned the press release talking
 
 0:15:00.830,0:15:04.820
 about the fire TV being actual video
 
 0:15:02.660,0:15:06.590
 content everything is on the table for
 
 0:15:04.820,0:15:08.540
 Amazon right now and they're realizing
 
 0:15:06.590,0:15:09.950
 that they can be a huge value especially
 
 0:15:08.540,0:15:12.170
 when the phone is in your pocket or it
 
 0:15:09.950,0:15:15.020
 should be they can provide a really
 
 0:15:12.170,0:15:16.310
 awesome interface for the car so it'd be
 
 0:15:15.020,0:15:17.930
 super interesting to see how this works
 
 0:15:16.310,0:15:19.640
 the gas thing that I mentioned earlier
 
 0:15:17.930,0:15:23.000
 is in a partnership with I think it's
 
 0:15:19.640,0:15:24.710
 Exxon and ultimately it will allow you
 
 0:15:23.000,0:15:27.380
 to pay for gas by simply giving that
 
 0:15:24.710,0:15:28.790
 voice command at over 11,000 Exxon and
 
 0:15:27.380,0:15:30.350
 Mobil stations which should be super
 
 0:15:28.790,0:15:31.680
 interesting more interesting enough
 
 0:15:30.350,0:15:33.689
 you're gonna use your Hamazon account
 
 0:15:31.680,0:15:35.759
 okay we'll see how that goes so scale of
 
 0:15:33.689,0:15:38.069
 one to ten Carter as a huge Alexis fan
 
 0:15:35.759,0:15:41.220
 where would you rate this this story or
 
 0:15:38.069,0:15:42.990
 headline well it's I think it's more
 
 0:15:41.220,0:15:44.879
 strategically important for Amazon
 
 0:15:42.990,0:15:47.160
 rather than a really cool thing I'm
 
 0:15:44.879,0:15:48.959
 gonna run out and buy cuz right now what
 
 0:15:47.160,0:15:52.019
 Apple's been able to do is they have
 
 0:15:48.959,0:15:53.339
 been able to transcend their touch
 
 0:15:52.019,0:15:55.350
 interface and their screen interface
 
 0:15:53.339,0:15:56.639
 with Siri what is the really only time
 
 0:15:55.350,0:15:58.980
 that a lot of people use Sirius in the
 
 0:15:56.639,0:16:00.839
 car right and they've paired that with
 
 0:15:58.980,0:16:02.610
 carplay which is super cool if you have
 
 0:16:00.839,0:16:04.589
 that availability and they figured out
 
 0:16:02.610,0:16:07.259
 how do u transpose you're awesome iOS
 
 0:16:04.589,0:16:09.179
 interface into voice and all make sense
 
 0:16:07.259,0:16:11.429
 but in terms of like impacting retail
 
 0:16:09.179,0:16:12.949
 where would you put this I bet you read
 
 0:16:11.429,0:16:16.139
 so over the next 10 year horizon where
 
 0:16:12.949,0:16:18.029
 formerly just from a retail standpoint I
 
 0:16:16.139,0:16:19.649
 think that it is rights necked out in
 
 0:16:18.029,0:16:21.360
 the middle like there are five on this
 
 0:16:19.649,0:16:22.350
 I'm a five on this here's why how much
 
 0:16:21.360,0:16:23.999
 commerce are you actually doing in the
 
 0:16:22.350,0:16:25.499
 car is the is the first thing like you
 
 0:16:23.999,0:16:27.209
 know you're not cruising buying like oh
 
 0:16:25.499,0:16:29.189
 I would really like some flowers and say
 
 0:16:27.209,0:16:30.720
 hey Alexa order me some flowers but I
 
 0:16:29.189,0:16:32.399
 think that the amount of time that we
 
 0:16:30.720,0:16:34.319
 have in quote unquote down time 45
 
 0:16:32.399,0:16:35.939
 minutes in the carved tuned from work
 
 0:16:34.319,0:16:37.920
 you can get a lot of stuff done the
 
 0:16:35.939,0:16:38.939
 Alexa during that time and if they
 
 0:16:37.920,0:16:41.100
 create an interface where I'm able to
 
 0:16:38.939,0:16:42.540
 get my grocery shopping done all without
 
 0:16:41.100,0:16:44.129
 ever leaving the vehicle in time that
 
 0:16:42.540,0:16:45.660
 I've already spent away from my family
 
 0:16:44.129,0:16:47.579
 and from work it's gonna be a really
 
 0:16:45.660,0:16:50.879
 really incredible thing I'm dying to
 
 0:16:47.579,0:16:55.439
 jump in here like what first before you
 
 0:16:50.879,0:16:57.209
 because I same question to you though
 
 0:16:55.439,0:17:02.339
 scale one the time where would you put
 
 0:16:57.209,0:17:06.630
 this are you are you five lower oh I
 
 0:17:02.339,0:17:08.039
 would say in the short term I think are
 
 0:17:06.630,0:17:13.459
 like as it's starting to come out I
 
 0:17:08.039,0:17:16.500
 would actually say seven okay why
 
 0:17:13.459,0:17:20.569
 predicted you would go well me
 
 0:17:16.500,0:17:20.569
 personally yeah that's totally different
 
 0:17:22.459,0:17:27.750
 no personal thoughts I get to just cars
 
 0:17:25.679,0:17:30.000
 doing his entire shot all the time I
 
 0:17:27.750,0:17:32.100
 think I think what Carter said is right
 
 0:17:30.000,0:17:35.789
 I think as especially as you start to
 
 0:17:32.100,0:17:39.179
 think about for me how Millennials and
 
 0:17:35.789,0:17:41.220
 Gen Z's are going to I believe in the
 
 0:17:39.179,0:17:43.889
 next couple of years there will be some
 
 0:17:41.220,0:17:45.360
 shifting towards like I should probably
 
 0:17:43.889,0:17:48.390
 not have things all the
 
 0:17:45.360,0:17:50.549
 to me in one hour so how can I make that
 
 0:17:48.390,0:17:52.890
 list when I'm on my way home and pick it
 
 0:17:50.549,0:17:54.840
 up from the target curbside store
 
 0:17:52.890,0:17:57.269
 whatever like have these things as
 
 0:17:54.840,0:17:59.190
 Amazon expands more into distribution
 
 0:17:57.269,0:18:00.299
 centers or grocery stores throughout the
 
 0:17:59.190,0:18:03.870
 country in the next couple of years
 
 0:18:00.299,0:18:06.029
 being tied to that Alexa in the car I
 
 0:18:03.870,0:18:09.600
 think will have a dramatic impact on
 
 0:18:06.029,0:18:12.960
 where retail is headed okay personally
 
 0:18:09.600,0:18:15.570
 though I I just it's not for you can't
 
 0:18:12.960,0:18:16.740
 do it see I'm like okay this'll be fun
 
 0:18:15.570,0:18:18.809
 this will be a really fun we haven't had
 
 0:18:16.740,0:18:20.639
 one of these in a while I'm like a 9 or
 
 0:18:18.809,0:18:22.139
 a 10 on this you guys like what I'll
 
 0:18:20.639,0:18:24.960
 tell you why because I think this is the
 
 0:18:22.139,0:18:27.149
 first time where I've seen it tangibly I
 
 0:18:24.960,0:18:29.610
 can kind of envision it now of where
 
 0:18:27.149,0:18:31.740
 voice starts voice technology really
 
 0:18:29.610,0:18:33.840
 starts to impact how physical retail is
 
 0:18:31.740,0:18:36.779
 done so I'll tell you why I say that
 
 0:18:33.840,0:18:38.070
 what's one of the most repetitive trips
 
 0:18:36.779,0:18:39.630
 that you're probably making it's
 
 0:18:38.070,0:18:41.190
 probably to go fill up your car for gas
 
 0:18:39.630,0:18:42.630
 or you're on your way work and you stop
 
 0:18:41.190,0:18:44.340
 well on your way into work and you stop
 
 0:18:42.630,0:18:46.260
 in to get that cup of coffee or get that
 
 0:18:44.340,0:18:49.220
 thing to eat you know it's convenient
 
 0:18:46.260,0:18:52.470
 it's on on the way you get it on your go
 
 0:18:49.220,0:18:54.179
 no pun intended as you'll see so here
 
 0:18:52.470,0:18:56.010
 now I've got a situation where I go and
 
 0:18:54.179,0:18:58.529
 I say hey I want to pay for my gas via
 
 0:18:56.010,0:19:00.299
 voice all right cool all right now hey
 
 0:18:58.529,0:19:02.039
 can I pick I want to pay for that coffee
 
 0:19:00.299,0:19:04.049
 I want to run in and get it just charge
 
 0:19:02.039,0:19:06.059
 it for me I want to pay for him a bag of
 
 0:19:04.049,0:19:08.820
 Doritos as you know I would buy so now
 
 0:19:06.059,0:19:10.500
 put this against Amazon go Amazon go
 
 0:19:08.820,0:19:11.970
 just walk out technology well what makes
 
 0:19:10.500,0:19:13.350
 that technology hard it's hard to make
 
 0:19:11.970,0:19:14.519
 sure that you understand all the
 
 0:19:13.350,0:19:15.990
 movements and gyrations that are
 
 0:19:14.519,0:19:18.029
 happening with your product but if you
 
 0:19:15.990,0:19:20.070
 can then correlate that with in the car
 
 0:19:18.029,0:19:21.809
 behavior prior to people coming in you
 
 0:19:20.070,0:19:23.519
 know exactly who's coming in what
 
 0:19:21.809,0:19:25.740
 they're coming in for it actually makes
 
 0:19:23.519,0:19:27.570
 that Amazon go technology even better
 
 0:19:25.740,0:19:29.250
 even more foolproof than it was before
 
 0:19:27.570,0:19:31.710
 because you now have another data point
 
 0:19:29.250,0:19:33.870
 to correlate against it convenience
 
 0:19:31.710,0:19:34.470
 store business 200 plus billion dollars
 
 0:19:33.870,0:19:37.320
 a year
 
 0:19:34.470,0:19:39.659
 we've got 25 Amazon Goa stores imagine
 
 0:19:37.320,0:19:41.820
 this type of setup in the car you're
 
 0:19:39.659,0:19:44.549
 interacting with it in that way there's
 
 0:19:41.820,0:19:46.799
 a lot of mileage here no pun intended to
 
 0:19:44.549,0:19:48.480
 what this idea could be and for the
 
 0:19:46.799,0:19:50.460
 first time I can actually see how that
 
 0:19:48.480,0:19:51.990
 would work together whereas before for
 
 0:19:50.460,0:19:53.429
 me all the voice applications have been
 
 0:19:51.990,0:19:55.799
 like you guys have been describing which
 
 0:19:53.429,0:19:57.510
 is like I've got time I'm in my car I
 
 0:19:55.799,0:19:58.920
 want to make my grocery list what do i
 
 0:19:57.510,0:20:01.080
 do from here or there
 
 0:19:58.920,0:20:04.679
 this to me for the first time is really
 
 0:20:01.080,0:20:07.020
 different it's it's a bridge being built
 
 0:20:04.679,0:20:09.600
 from two sides of the river right so you
 
 0:20:07.020,0:20:11.130
 look at Amazon go expanding their
 
 0:20:09.600,0:20:13.260
 footprint expanding obviously going to
 
 0:20:11.130,0:20:15.059
 convenience or space which really aligns
 
 0:20:13.260,0:20:16.200
 well with gas stations and then on the
 
 0:20:15.059,0:20:18.660
 other side you're looking at expanding
 
 0:20:16.200,0:20:21.240
 Alexa away from the home into the car
 
 0:20:18.660,0:20:23.160
 which then has this nice Keystone meet
 
 0:20:21.240,0:20:24.540
 at the top when you're going to get gas
 
 0:20:23.160,0:20:27.750
 and a bag of Doritos in your coffee
 
 0:20:24.540,0:20:29.910
 every morning that is my breakfast what
 
 0:20:27.750,0:20:31.530
 does that mean that basically means I'm
 
 0:20:29.910,0:20:33.000
 trying to put an analogy to what you
 
 0:20:31.530,0:20:34.740
 just described I'm trying to say that
 
 0:20:33.000,0:20:36.990
 Amazon is building on both sides of this
 
 0:20:34.740,0:20:38.580
 river yes they're continuing to expand
 
 0:20:36.990,0:20:40.710
 obviously their footprint within
 
 0:20:38.580,0:20:42.360
 physical retail to Amazon go which
 
 0:20:40.710,0:20:43.620
 naturally goes into gas stations because
 
 0:20:42.360,0:20:45.570
 of the small footprint in the technology
 
 0:20:43.620,0:20:46.860
 etc etc and then at the same time
 
 0:20:45.570,0:20:48.419
 they're figuring out how do we put Alexa
 
 0:20:46.860,0:20:50.790
 on the user side of things closer to
 
 0:20:48.419,0:20:52.140
 that experience which is in the car and
 
 0:20:50.790,0:20:54.620
 that's what I'm you know building the
 
 0:20:52.140,0:20:57.179
 mousetrap with Exxon again perfecting it
 
 0:20:54.620,0:20:59.640
 right exactly Exxon is going to and
 
 0:20:57.179,0:21:01.620
 unknowingly partner pull a bunch of data
 
 0:20:59.640,0:21:06.809
 from that and then ultimately is going
 
 0:21:01.620,0:21:08.429
 to get purchased and on the front door I
 
 0:21:06.809,0:21:11.190
 just think there's still a lot of work
 
 0:21:08.429,0:21:15.840
 to be done Oh what you're describing is
 
 0:21:11.190,0:21:17.700
 great and wonderful but like even the to
 
 0:21:15.840,0:21:20.490
 get to where you're talking about is
 
 0:21:17.700,0:21:23.309
 still to me years down the road oh like
 
 0:21:20.490,0:21:26.640
 for sure yeah for sure not an immediate
 
 0:21:23.309,0:21:29.040
 impact on on retail it's like you're
 
 0:21:26.640,0:21:30.510
 nine or ten rating is years down there
 
 0:21:29.040,0:21:32.669
 oh yeah it's very futuristic and yeah
 
 0:21:30.510,0:21:36.830
 but yeah to that point let's talk number
 
 0:21:32.669,0:21:41.070
 three because I know you love this so
 
 0:21:36.830,0:21:42.540
 another CES announcement according to an
 
 0:21:41.070,0:21:44.760
 article that we saw in progressive
 
 0:21:42.540,0:21:47.309
 grocery this week L'Oreal has announced
 
 0:21:44.760,0:21:50.520
 pur so which is a small device that can
 
 0:21:47.309,0:21:53.370
 create custom beauty prep products so
 
 0:21:50.520,0:21:57.600
 perso is basically this little
 
 0:21:53.370,0:22:01.580
 beautifully you know designed container
 
 0:21:57.600,0:22:04.049
 that sits on your your countertop and
 
 0:22:01.580,0:22:05.970
 consumers who use pur so they they have
 
 0:22:04.049,0:22:07.770
 an app that L'Oreal puts out using
 
 0:22:05.970,0:22:09.780
 modify their modifies technology which
 
 0:22:07.770,0:22:11.610
 they own and so you can scan your face
 
 0:22:09.780,0:22:12.450
 and it will do a reading of your face
 
 0:22:11.610,0:22:14.880
 saying this
 
 0:22:12.450,0:22:17.340
 is your this is the right color of
 
 0:22:14.880,0:22:19.470
 foundation for you this is what a lip
 
 0:22:17.340,0:22:21.240
 color would look like on you and you can
 
 0:22:19.470,0:22:24.660
 modify that lip color while you're right
 
 0:22:21.240,0:22:27.810
 in that app then you send that
 
 0:22:24.660,0:22:31.440
 information to purr so it's as it's
 
 0:22:27.810,0:22:35.160
 sitting on your countertop will mix a
 
 0:22:31.440,0:22:39.570
 custom blend of foundation or lipstick
 
 0:22:35.160,0:22:41.820
 or skin moisturizer for your face for
 
 0:22:39.570,0:22:43.830
 that time of year it uses AI its to
 
 0:22:41.820,0:22:45.930
 continue to learn all of the things
 
 0:22:43.830,0:22:48.900
 about you and the products as you use
 
 0:22:45.930,0:22:51.330
 them it dispenses the correct amount in
 
 0:22:48.900,0:22:54.660
 the top you can put a lid on it and take
 
 0:22:51.330,0:22:56.190
 it in your bag to go this thing was so
 
 0:22:54.660,0:22:58.440
 good you guys when I saw the video I
 
 0:22:56.190,0:23:00.030
 thought it was an April Fool's joke yeah
 
 0:22:58.440,0:23:03.210
 it's like a size of a soap dispenser
 
 0:23:00.030,0:23:07.080
 right yes tiny sits on your counter and
 
 0:23:03.210,0:23:09.150
 yeah it's absolutely insane and you have
 
 0:23:07.080,0:23:11.190
 three cartridges in it in the bottom of
 
 0:23:09.150,0:23:13.590
 it that's all your Auto refilled yes
 
 0:23:11.190,0:23:15.630
 they have NFC tags in them so it
 
 0:23:13.590,0:23:17.340
 automatically refills them as you need
 
 0:23:15.630,0:23:19.710
 them I think that's the one outlying
 
 0:23:17.340,0:23:21.990
 thing that it's like okay how much are
 
 0:23:19.710,0:23:26.280
 these cartridges and what how often are
 
 0:23:21.990,0:23:29.400
 they coming yes so that is going to be
 
 0:23:26.280,0:23:31.920
 launched though in 2021 with one of the
 
 0:23:29.400,0:23:32.640
 leading L'Oreal skin care brands and I
 
 0:23:31.920,0:23:34.230
 am pumped
 
 0:23:32.640,0:23:35.670
 I'm definitely getting this yeah I
 
 0:23:34.230,0:23:36.990
 thought this was super cool like when
 
 0:23:35.670,0:23:40.160
 you showed me that when you first told
 
 0:23:36.990,0:23:43.410
 me this I was like Anne's crazy okay
 
 0:23:40.160,0:23:44.970
 okay whatever but then you showed me the
 
 0:23:43.410,0:23:47.640
 video and so everyone should check it
 
 0:23:44.970,0:23:50.520
 out online persona pers oh and watch
 
 0:23:47.640,0:23:51.990
 this because again like for the first
 
 0:23:50.520,0:23:54.180
 time I was like this feels like a nuke
 
 0:23:51.990,0:23:55.890
 again or not no but sorry geez I can't
 
 0:23:54.180,0:23:57.660
 believe I just did that apology so much
 
 0:23:55.890,0:24:00.330
 to Amazon Kindle it feels like Kindle
 
 0:23:57.660,0:24:04.200
 again like okay we're gonna change the
 
 0:24:00.330,0:24:05.370
 way we've traditionally sold kudos to to
 
 0:24:04.200,0:24:07.440
 L'Oreal for doing this so we're gonna
 
 0:24:05.370,0:24:09.240
 change the way people shop for cosmetics
 
 0:24:07.440,0:24:10.740
 we're gonna make a better way and we're
 
 0:24:09.240,0:24:11.880
 gonna be the one to do it and show us
 
 0:24:10.740,0:24:13.680
 how it's done we're gonna disrupt
 
 0:24:11.880,0:24:14.790
 ourselves and this is an example of
 
 0:24:13.680,0:24:16.560
 potentially of doing that I mean
 
 0:24:14.790,0:24:18.900
 depending on the price point I think
 
 0:24:16.560,0:24:21.120
 that's a big key factor here but if this
 
 0:24:18.900,0:24:23.460
 price point is the same as what it cost
 
 0:24:21.120,0:24:26.550
 me to buy a bottle of foundation from
 
 0:24:23.460,0:24:28.080
 you know my CVS or Walgreens like game
 
 0:24:26.550,0:24:29.730
 when you can always start high and bring
 
 0:24:28.080,0:24:32.520
 it down right exactly what Kendall right
 
 0:24:29.730,0:24:34.260
 over top you know yeah this is like one
 
 0:24:32.520,0:24:39.030
 of my favorite stories all so far of
 
 0:24:34.260,0:24:40.710
 20/20 obviously know this this thing is
 
 0:24:39.030,0:24:42.450
 absolutely incredible the video does
 
 0:24:40.710,0:24:43.740
 does it justice it's super cool to watch
 
 0:24:42.450,0:24:45.600
 so definitely jump onto YouTube and
 
 0:24:43.740,0:24:47.760
 check it out here's the thing I love
 
 0:24:45.600,0:24:49.830
 when buzz were the technology actually
 
 0:24:47.760,0:24:52.050
 drives all the way to user value that's
 
 0:24:49.830,0:24:54.960
 what I love to see and this is a great
 
 0:24:52.050,0:24:56.700
 great example of doing just that so to
 
 0:24:54.960,0:24:58.650
 your point and yeah you can use all the
 
 0:24:56.700,0:25:00.390
 fancy smartphone apps and and you know
 
 0:24:58.650,0:25:02.280
 pick your makeup and pick your lipstick
 
 0:25:00.390,0:25:03.930
 color that's great and grand and you
 
 0:25:02.280,0:25:05.550
 know what in the past it's been fun but
 
 0:25:03.930,0:25:07.020
 really the actual true value of that is
 
 0:25:05.550,0:25:08.550
 pretty minimal but the fact that you
 
 0:25:07.020,0:25:09.960
 could actually pick shade to pick what
 
 0:25:08.550,0:25:11.940
 you want to look like do all that and
 
 0:25:09.960,0:25:13.200
 click a button and everything you need
 
 0:25:11.940,0:25:15.090
 is formulated in front of you to
 
 0:25:13.200,0:25:17.160
 actually make that happen it's super
 
 0:25:15.090,0:25:19.920
 cool and it goes beyond just cosmetics
 
 0:25:17.160,0:25:22.080
 too so it looks a tan cosmetic beauty I
 
 0:25:19.920,0:25:23.820
 guess but it looks at temperature it
 
 0:25:22.080,0:25:25.620
 looks at UV index it looks at pollution
 
 0:25:23.820,0:25:27.810
 in the air and says hey we're going to
 
 0:25:25.620,0:25:29.460
 actually mix the perfect foundation or
 
 0:25:27.810,0:25:31.590
 we're gonna mix the perfect face lotion
 
 0:25:29.460,0:25:34.500
 for you for this day and all of a sudden
 
 0:25:31.590,0:25:35.850
 now at the drop of a button or even not
 
 0:25:34.500,0:25:38.160
 even because it probably knows when you
 
 0:25:35.850,0:25:40.530
 need it but the point is is that it is
 
 0:25:38.160,0:25:42.480
 creating the most optimal product for
 
 0:25:40.530,0:25:44.850
 you for that day for your life using
 
 0:25:42.480,0:25:47.370
 actual artificial intelligence using all
 
 0:25:44.850,0:25:49.800
 argumented reality once again buzzword
 
 0:25:47.370,0:25:51.420
 technology that actually enabled value
 
 0:25:49.800,0:25:53.550
 for the end-user and that's when we see
 
 0:25:51.420,0:25:54.360
 some really awesome things unlocked yeah
 
 0:25:53.550,0:25:56.550
 it's cool
 
 0:25:54.360,0:26:00.120
 super cool probably also tell me when I
 
 0:25:56.550,0:26:01.230
 need some more vitamin D alright alright
 
 0:26:00.120,0:26:02.370
 number four I'm gonna hit this one quick
 
 0:26:01.230,0:26:04.920
 cuz we're actually running a little bit
 
 0:26:02.370,0:26:06.120
 long here but it's an important story so
 
 0:26:04.920,0:26:07.160
 we want to make sure it gets matching
 
 0:26:06.120,0:26:10.110
 and that's according to TechCrunch
 
 0:26:07.160,0:26:12.180
 Asia's richest man Mukesh Ambani has
 
 0:26:10.110,0:26:14.100
 launched geo Mart in an attempt to
 
 0:26:12.180,0:26:16.830
 compete with Amazon and Flipkart so as
 
 0:26:14.100,0:26:18.180
 you know Amazon and both Walmart now by
 
 0:26:16.830,0:26:20.850
 way a flip card have been going hard
 
 0:26:18.180,0:26:22.920
 after the Indian market now on Bonnie's
 
 0:26:20.850,0:26:26.340
 two companies Reliance Retail and
 
 0:26:22.920,0:26:28.260
 Reliance Geo announced the launch of
 
 0:26:26.340,0:26:30.360
 this joint venture just last week
 
 0:26:28.260,0:26:31.560
 now geo Mart is an e-commerce venture
 
 0:26:30.360,0:26:33.120
 that worked closely with neighborhood
 
 0:26:31.560,0:26:35.670
 stores and currently offers a catalogue
 
 0:26:33.120,0:26:37.680
 of 50,000 grocery items and promises
 
 0:26:35.670,0:26:39.630
 free and express delivery they plan to
 
 0:26:37.680,0:26:40.290
 expand the service to many parts of
 
 0:26:39.630,0:26:43.590
 India income
 
 0:26:40.290,0:26:45.000
 months and we are excited to see how
 
 0:26:43.590,0:26:47.100
 this starts to unfold and the reason
 
 0:26:45.000,0:26:48.930
 being here for me and I think we the key
 
 0:26:47.100,0:26:50.520
 highlight here is Walmart invested a ton
 
 0:26:48.930,0:26:52.710
 of money over on this I think it's you
 
 0:26:50.520,0:26:54.570
 know what is it 1314 billion dollars in
 
 0:26:52.710,0:26:56.610
 terms of that Flipkart acquisition you
 
 0:26:54.570,0:26:57.810
 know Amazon's got deep pockets it means
 
 0:26:56.610,0:26:59.310
 it ain't gonna be easy
 
 0:26:57.810,0:27:02.310
 right and so the question that becomes
 
 0:26:59.310,0:27:04.020
 how distracting is it for Walmart how
 
 0:27:02.310,0:27:05.820
 much money does it cost what impact does
 
 0:27:04.020,0:27:07.110
 that have on their core business day in
 
 0:27:05.820,0:27:08.670
 and day out this is gonna be something
 
 0:27:07.110,0:27:10.770
 to watch and I know many people have
 
 0:27:08.670,0:27:13.110
 thought that the flip card acquisition
 
 0:27:10.770,0:27:14.850
 could be a could be a misguided attempt
 
 0:27:13.110,0:27:16.680
 for those reasons prior to this
 
 0:27:14.850,0:27:19.080
 announcement and now this announcement
 
 0:27:16.680,0:27:21.720
 makes that competitive environment even
 
 0:27:19.080,0:27:22.280
 more difficult all right let's close it
 
 0:27:21.720,0:27:25.770
 up
 
 0:27:22.280,0:27:27.210
 Carter very important story so uh number
 
 0:27:25.770,0:27:29.310
 five here today is according to a press
 
 0:27:27.210,0:27:31.410
 release by use your gift card calm yep
 
 0:27:29.310,0:27:32.880
 look it okay nationally use your gift
 
 0:27:31.410,0:27:34.230
 card day add it to the social media
 
 0:27:32.880,0:27:35.520
 calendar it will take place on January
 
 0:27:34.230,0:27:37.410
 18th that's right
 
 0:27:35.520,0:27:39.390
 that's next Saturday so if you're
 
 0:27:37.410,0:27:41.070
 listening to this time that's actually
 
 0:27:39.390,0:27:43.170
 next Saturday so here's the deal we
 
 0:27:41.070,0:27:44.340
 leave a billion dollars as Americans on
 
 0:27:43.170,0:27:46.170
 gift card specifically we're on the
 
 0:27:44.340,0:27:47.610
 holiday season and it's a it's something
 
 0:27:46.170,0:27:49.350
 that we all know we've lost that gift
 
 0:27:47.610,0:27:50.370
 card or it's somewhere in our pocket
 
 0:27:49.350,0:27:51.660
 maybe there's a couple bucks left on
 
 0:27:50.370,0:27:53.190
 it's not worth carrying around we throw
 
 0:27:51.660,0:27:55.770
 it away but here's the OH use your gift
 
 0:27:53.190,0:27:57.510
 card calm this year is launching and for
 
 0:27:55.770,0:27:59.580
 the holiday season they're bringing out
 
 0:27:57.510,0:28:01.590
 their own day that's right January 18th
 
 0:27:59.580,0:28:03.870
 so retailers who are partnering with
 
 0:28:01.590,0:28:05.100
 them are able to give really the people
 
 0:28:03.870,0:28:07.110
 who own these gift cards special
 
 0:28:05.100,0:28:08.790
 incentives to get out and actually use
 
 0:28:07.110,0:28:10.190
 them so from a retail standpoint it's
 
 0:28:08.790,0:28:12.290
 awesome get people back into your store
 
 0:28:10.190,0:28:14.460
 overspend use those gift cards etc
 
 0:28:12.290,0:28:16.680
 that's really what they want them to do
 
 0:28:14.460,0:28:18.330
 and some of the partners come into the
 
 0:28:16.680,0:28:20.790
 gaiter are some big retailers you look
 
 0:28:18.330,0:28:23.280
 at Kohl's Petsmart Macy's sex with have
 
 0:28:20.790,0:28:27.540
 two portly Express and even Simon malls
 
 0:28:23.280,0:28:29.310
 so again this is January 18th the third
 
 0:28:27.540,0:28:31.110
 Saturday of January and they're expected
 
 0:28:29.310,0:28:32.940
 into this year over a year over a year
 
 0:28:31.110,0:28:34.470
 ideally depending on how it goes a
 
 0:28:32.940,0:28:39.230
 gaining some more traction from some big
 
 0:28:34.470,0:28:41.850
 retailers I give this holiday one try
 
 0:28:39.230,0:28:51.510
 really I gave it a lot of excitement in
 
 0:28:41.850,0:28:54.390
 my read though I oh yeah good I mean
 
 0:28:51.510,0:28:57.510
 it's a gimmick I love it
 
 0:28:54.390,0:29:03.000
 is all about gimmicks this is great okay
 
 0:28:57.510,0:29:04.560
 oh my god what do you love about alright
 
 0:29:03.000,0:29:06.420
 this is an idea where I'm like why have
 
 0:29:04.560,0:29:08.370
 it why is it this happened before right
 
 0:29:06.420,0:29:10.080
 you've got all this unused money reads
 
 0:29:08.370,0:29:11.430
 those are struggling on traffic let's
 
 0:29:10.080,0:29:12.660
 make sure there's a freaking day and
 
 0:29:11.430,0:29:14.370
 let's also by the way give people
 
 0:29:12.660,0:29:16.710
 incentives too if we need to give them
 
 0:29:14.370,0:29:18.270
 incentives to spend the gift card and on
 
 0:29:16.710,0:29:19.500
 other stuff while they're there why
 
 0:29:18.270,0:29:21.660
 don't we do this box you know it's like
 
 0:29:19.500,0:29:23.150
 this it's another Black Friday but it's
 
 0:29:21.660,0:29:29.040
 the exact opposite it's just the inverse
 
 0:29:23.150,0:29:31.020
 well better than prime day I think I
 
 0:29:29.040,0:29:32.400
 mean is like completely made up this
 
 0:29:31.020,0:29:34.410
 actually is like people have these
 
 0:29:32.400,0:29:37.890
 things or way day or whatever and those
 
 0:29:34.410,0:29:39.270
 work well to this yeah super built it so
 
 0:29:37.890,0:29:41.550
 and I'm not discounting those because I
 
 0:29:39.270,0:29:42.750
 think those are great idea is to this is
 
 0:29:41.550,0:29:44.100
 just to me even better than those
 
 0:29:42.750,0:29:46.080
 because it's already built into the
 
 0:29:44.100,0:29:48.150
 consumer behavior to have all these
 
 0:29:46.080,0:29:49.830
 things the value-added super easy to I
 
 0:29:48.150,0:29:51.480
 can spend 30 percent I can get 30
 
 0:29:49.830,0:29:54.060
 percent more things on my gift card if I
 
 0:29:51.480,0:29:56.670
 go today than tomorrow exactly well and
 
 0:29:54.060,0:29:59.280
 I as far as I was reading and
 
 0:29:56.670,0:30:01.950
 understanding that the merchandiser who
 
 0:29:59.280,0:30:03.150
 or the the retailer who is putting the
 
 0:30:01.950,0:30:05.100
 gift cards out they don't actually
 
 0:30:03.150,0:30:07.830
 account for the revenue until the gift
 
 0:30:05.100,0:30:09.420
 card is redeemed so I think that will
 
 0:30:07.830,0:30:12.270
 make I mean that could have a big impact
 
 0:30:09.420,0:30:13.620
 we'll see I it's a good push for the end
 
 0:30:12.270,0:30:17.580
 of year earnings to like get that
 
 0:30:13.620,0:30:19.500
 revenue in yeah yeah I don't know that's
 
 0:30:17.580,0:30:20.640
 funny I like it this was a funs podcast
 
 0:30:19.500,0:30:21.960
 I got to go a little bit different
 
 0:30:20.640,0:30:23.640
 against the grain then you usually it's
 
 0:30:21.960,0:30:25.410
 you to arguing it out not the two of you
 
 0:30:23.640,0:30:27.030
 arguing against me so I like that I like
 
 0:30:25.410,0:30:29.010
 that alright well let's close it up
 
 0:30:27.030,0:30:31.380
 again excited about New York this week
 
 0:30:29.010,0:30:34.050
 if you happen to be in town please stop
 
 0:30:31.380,0:30:35.910
 by the show on Sunday 4:00 p.m. I'll be
 
 0:30:34.050,0:30:38.730
 on stage interviewing Tim Rowland of
 
 0:30:35.910,0:30:41.490
 badger technologies and Rob McCartney of
 
 0:30:38.730,0:30:44.160
 Woolworths and as Carter mentioned on
 
 0:30:41.490,0:30:45.900
 Thursday the 16th in Minneapolis at 4:00
 
 0:30:44.160,0:30:47.670
 p.m. we will have a stand-up where we'll
 
 0:30:45.900,0:30:48.690
 talk about everything we saw it and RF
 
 0:30:47.670,0:30:51.810
 everything we learned from the
 
 0:30:48.690,0:30:53.820
 presentations our podcasts and that
 
 0:30:51.810,0:30:55.920
 event is sponsored by our friends at the
 
 0:30:53.820,0:30:59.240
 navi o group too so special thanks to
 
 0:30:55.920,0:31:02.130
 them for putting that on and of course
 
 0:30:59.240,0:31:04.380
 like review and subscribe to our content
 
 0:31:02.130,0:31:06.840
 as always every little difference makes
 
 0:31:04.380,0:31:08.039
 the difference and one quick plug if you
 
 0:31:06.840,0:31:10.289
 also happen to be in you
 
 0:31:08.039,0:31:11.850
 New York keep an eye out on social media
 
 0:31:10.289,0:31:13.679
 because rumor has it we might be
 
 0:31:11.850,0:31:16.169
 throwing an impromptu you happy hour on
 
 0:31:13.679,0:31:18.619
 Monday night and we'd love for all of
 
 0:31:16.169,0:31:22.499
 you to stop by have a few drinks with us
 
 0:31:18.619,0:31:24.529
 so on that note as always be careful out
 
 0:31:22.499,0:31:24.529
 there