C-Suite Quarterly

VISIONARIES

Andy Katz-Mayfield Severin Hacker Josh Held Ryan Hudson Toni Ko Robin Richards

40 UNDER 40 MOST INNOVATIVE FOUNDERS

This year’s list of the leaders in innovation and technology C-SUITE QUARTERLY LOS ANGELES | NEW YORK INNOVATION & TECHNOLOGY Q1 2020

ULTIMATE GETAWAYS

The hottest escapes, from the British Virgin Islands to Africa

Cover

Visionaries of the Year

WALTER DRIVER AND JAVIER FERREIRA While most tech companies are defined by solitary leaders, Scopely has taken a different path.

Led by two co-CEOs, the company has accelerated growth beyond just the L.A. tech scene and into the mobile gaming universe, with an estimated value of $1.7B

PLUS: Chris Hollod shares how he sources investments from Instagram; the 36-year-old Hermès designer taking the design world by storm; how a 158-year-old spirits company keeps 200 brands fresh and hip; the biggest players in philanthropy; and the top VC funds in Los Angeles SPECIAL SECTION: Why Salt Lake City is being coined “Silicon Slopes”

Burgess

Unforgettable.

by Burgess

Email sales@burgessyachts.com | charter@burgessyachts.com London +44 20 7766 4300 Monaco +377 97 97 81 21 New York +1 212 223 0410 14 offices worldwide I Europe I Americas I Asia Pacific I Middle East Not available for charter to US residents while in US waters.

Burgess

For sale and charter

MUCHOS MAS

2016, Crescent Custom Yachts, Canada Caribbean and Bahamas 43.9m (144ft) 11 guests, 5 cabins

From a spectacular sun deck with a 54-jet jacuzzi, waterfall, bar, BBQ, TV and misting system to her Nikki Beach-style lounge above her cool beach club, MUCHOS MAS will help you to make unforgettable memories.

Features Q1 2020: Vol. 12 No. 1 Los Angeles and New York Innovation & Technology

NEXTGEN VISIONARIES Los Angeles and New York 53 SEVERIN HACKER In less than 10 years, Duolingo Co­founder and Chief Technol­ ogy Officer Severin Hacker has already amassed a user base of more than 300 million people around the world, but even with talks of an IPO on the horizon, the 36­year­old has no plans to slow down.

54 JOSH HELD As a leader in the cannabis industry, the 34­year­old com­ bines his unique background with an unwavering push into a pioneering field.

56 ANDY KATZ-MAYFIELD The Harry’s Co­founder is modernizing men’s hygiene by expanding the company’s mammoth quest to tackle consumer needs.

58 RYAN HUDSON In just six weeks, this out­of­ the­box thinker took a browser extension and created Honey, a shopping and rewards platform that, seven years later, was recently purchased

by PayPal for $4B.

OP-ED 38 SOCIAL WORK How Instagram has transfor­ med the way I source new business.

By Chris Hollod, Founder and Managing Partner, Hollod Holdings 40 WHY THE FUTURE OF DRIVING NEEDS SMART INFRASTRUCTURE As driverless vehicles and automated­driving technology become increasingly popu­ lar, it’s important that smart technology is considered in a holistic sense.

By Charles Harrington, Chairman and CEO, Parsons Corporation

VISIONARIES OF THE YEAR

64 62 60

TOC - Visionaries

ROBIN RICHARDS Discovering overlooked opportunities for internet­based companies, Robin Richards has achieved success over and over through a range of tech busi­ nesses rooted in service.

When it comes to running a $1.7B mobile games giant, two CEOs are better than one.

In a tech industry seemingly defined by solitary visionary leaders, Scopely has taken a different path. Last year, the company elevated then­ President JAVIER FERREIRA

02

to co­CEO, joining fellow co­CEO WALTER DRIVER as an equal atop Scopely’s leaderboard—while receiving an additional $200M in series­D funding. And rather than create confusion, the company's co­ CEO structure has only helped fuel its continued growth.

TONI KO Utilizing social media and a diverse base of influencers, beauty disruptor Toni Ko is set to once again carve out her own niche in the cosmetics industry.

Clay Lacy

Personalized jet charter and aircraft ownership solutions.

Access our nationwide fleet with the largest selection of aircraft for charter and a uniquely personalized onboard experience. Considering aircraft ownership? Our transparent, data-driven approach to managing your asset will reduce costs, and increase safety and efficiency.

Los Angeles 818.230.5207 | New York 646.846.2159 | claylacy.com

WO RL D ’S MOST EX P ER IEN CED OPERATO R O F PRI VATE J ETS © 2020 Clay Lacy Aviation All rights reserved.

Departments

13

DESIRABLES 14 Tech and Gadgets From personal robots to a 10-second toothbrush, there was plenty to see and even more to talk about at this year’s Consumer Electronics Show. If you weren’t one of the 170,000-plus attendees, here’s what you missed.

15 Cigars The concept of innovation in the cigar world boils down to cultivation and blending.

16 Wine One of Italy’s most renowned coffee producers has moved into the wine business to create robust wines in a biodynamic vineyard.

17 Spirits Bacardi North America’s regional president shares the key ingredients for keeping a 158-year-old brand with more than 200 labels fresh and relevant.

22

INNOVATION & TECHNOLOGY 18 Style How not to be basic when you’re dressing for success in tech.

20 Water The 70-year-old yacht builder Feadship has created its own rarefied world at sea.

The acclaimed Superyacht Experience makes its North American debut in Palm Beach.

22 Land As the sun sets on Bentley’s 100th anniversary, the automaker is positioning itself not only as a reliable name in the ultra-luxury market but also as a leader in the next generation of high-end automotive innovation technology.

34 Visionary Alumni in Innovation & Technology

36

36 Of Note Briefings, Updates, and Analysis 42 Innovative Office The Headspace headquarters is a haven for happiness, while Slack’s New York office brings the outdoors inside.

44 40 Under 40 Most Innovative Founders Meet this year’s class of forward-thinking founders in Innovation & Technology under the age of 40.

TOC - Desirables

23 Air Make room on your bucket list for new routes on exclusive aircraft and better experiences.

26 Furnishings Thirty-six-year-old Ini Archibong’s designs are history in the making.

28 Private Clubs New York’s first private wellness club promises a better you, and in Los Angeles, the Britely at the new Pendry West Hollywood might be the city’s most ultimate membership club.

30 Watches These wristwatches command attention thanks to the innovations that define them.

04

33

29

In Every Issue 06 08 10 114 125 134 136

Masthead Founder’s Note Contributors C-Suite Advisors Directory The Network Advertiser Directory C-Suite Quoted

71

This edition’s lineup of C-Suite Advisors™

C-SUITE ADVISORS™

DESTINATIONS

96 Cybersecurity of the Rich and Famous Howard Grobstein Grobstein Teeple, LLP

72 Health Mental health is just as important as physical health at The Golden Door.

98 Food and Beverage Brands Adopt D2C to Compete and Thrive Jim Freedman and Michael Seccuro Intrepid Investment Bank

74 Meetings & Retreats The Grand Teton National Park’s Caldera House redefines a sense of place, and the acclaimed Four Seasons Punta Mita is the perfect escape for winter blues.

100 Choosing Your Intention to Influence Your Behavior Ryan Bristol JP Morgan Private Bank

76 Breaking Ground New developments launching around the world.

102 Navigating the Conflicted and Emotional Stages of Divorce through Thoughtful Planning Robert Dalie Oppenheimer & Co 104 The Digital Doctor’s Office Dr. Ram Dandillaya Atelier Health 106 Are the Golden Years a Myth?

Martin Levy CorpStrat

117 CULTURE & TASTE 86 Golf Getaway The top five golf courses to play in Scottsdale right now.

118 Exhibits and performances for this season in Los Angeles and New York

88 The Getaway LA Five-star The Ranch at Rock Creek offers a range of traditional winter activities with contemporary comforts.

119 Required Reading and Viewing Kira Talent Founder and CEO Emilie Cushman shares the media that inspires her to live, love, and lead better.

89 The Getaway NY The BVI’s most beloved property shines again.

121 Philanthropy CSQ and Philanthropy.com share a bicoastal snapshot of the most generous donations received and the philanthropists who gave them over the past 18 months.

90 The Journey LA A mob of restless photographers vying for the perfect shot can ruin a destination—but top resorts around the world are finding solutions.

TOC - CSA

78 Special Section: Investing in Salt Lake City For years, Salt Lake City, Utah, had little in common with Los Angeles or San Francisco.

But that’s quickly changing, as the capital of the Beehive State has become a hub for business investment, developments, and technology.

92 The Journey NY Colorful Cape Town continues to be a hub for design, while Rwanda and Madagascar are emerging onto the luxury travel scene.

120 Social Responsibility David de Rothschild, founder of The Lost Explorer, wants to help brands save the world.

122 Proprietor’s Profile Dining around Los Angeles and New York with Matthew Kenney.

90

102 I’d Be ‘the Man’ Lisa Helfend Meyer MOLM, LLP 110 Take Care to Learn the Changing Rules for Hiring and Paying Elder Caregivers Scott Rahn RMO, LLP 112 Branding and Innovation in the Cannabis Industry Steve Sereboff SoCal IP Law Group, LLP

CSQ Q1 2020

05

On the Cover Walter Driver and Javier Ferreira Location Scopely HQ Los Angeles

C-SUITE QUARTERLY

CSQ.COM

Founder and Publisher David L. Wurth

Geoff Nudelman Matt Pressberg Kathryn Romeyn Shaun Tolson Bruce Wallin David R. Weiss

CONTENT Editor in Chief Samantha Brooks Art Director Dima Kuzmichev

Interns Samantha Block Nataly Gutierrez Adriana Mejia

Designer Olesya Plugovenko

Illustration Maxim Zudilkin

Content and Community Coordinator Sheean Hanlan Copy Editors Dora Dalton Kersten Deck Alison Clare Steingold Photo Editor Lauren Schumacher Contributors Ben Bloch Martine Bury Ryan Byers Chris Casacchia Andrew Dalton Jason Dean Carole Dixon Kate Donnelly James Faris David Goldman Charles L. Harrington Chris Hollod Subrina Hudson Benjamin F. Kuo Carolyn Meers Christian Navarro

06

Photo davidgoldmanphoto

ADVERTISING AND MARKETING

INQUIRIES

Associate Publisher Ian Tenenbaum

Advertising advertising@csq.com

Marketing Director Gioia Giacomelli

C-Suite Advisors™ advisory@csq.com

Marketing and Sales Coordinator Robert Bramley

Editorial editorial@csq.com

Masthead

C-SUITE ADVISORS™ Elite C-Suite Advisors Ryan Bristol Robert Dalie Dr. Ram Dandillaya Jim Freedman Howard Grobstein Martin Levy Lisa Helfend Meyer Scott Rahn Steve Sereboff

C-SUITE MEDIA ADVISORY BOARD Larry Braun Diana Derycz-Kessler Jim Freedman Paul Kessler Steve Lehman Robin Richards James Segil Drew Sheinman Irv Zuckerman

Marketing Assistant Sydney Weber Marketing Partner Hawke Media

OPERATIONS Accountant Stan Arutti Legal Scott Barlow Steven C. Sereboff Distribution Right-Way Distribution

Events events@csq.com Reprints reprints@csq.com Subscriptions subscriptions@csq.com

CSQ / C-Suite Quarterly is published

by C-SUITE MEDIA, INC.

It is mailed to C-level executives, business owners, and ultra-high-net-worth residential communities and distributed in the upscale locations throughout Los Angeles and New York.

LOS ANGELES C-SUITE MEDIA, INC., P.O. Box 8696 Calabasas, CA 91372 | 818.225.8168 NEW YORK C-SUITE MEDIA, INC., 1185 Avenue of the Americas 3rd Floor, New York, NY 10036 All rights reserved. CSQ, C-Suite Advisors™, C-Suite Advisory™, and C-Suite Quarterly are registered trademarks of C-SUITE MEDIA, INC. No articles, illustrations, photographs, or any other editorial matter or advertisement herein may be reproduced without permission of copyright owner. C-Suite Quarterly and C-Suite Media, Inc. does not take responsibility for the claims provided herein.

Printed in the USA.

How are media and entertainment businesses reinventing in an age of transformation?

Discover how industry leaders are adapting their enterprise to drive future growth. ey.com/media-entertainment | #NextWave

Š 2018 EYGM Limited. All Rights Reserved. ED None.

EY

Š 2020 EYGM Limited. All Rights Reserved. EYG no. 000450-20Gbl . 1909-3277891. ED None

FOUNDER’S NOTE

Tribute to Kobe Bryant (8/23/78–1/26/20) CSQ Visionary of the Year in Innovation and Technology, 2018 VISIONARIES IN INNOVATION & TECHNOLOGY Jesse Draper Chris Hollod Kelly Perdew David Waxman Jonathan Zweig

THE YEAR OF BITCOIN

by Howard Marks, StartEngine C-SUITE QUARTERLY | LOS ANGELES INNOVATION & TECHNOLOGY WINTER 2018

THE FUTURE OF AI

by Gil Elbaz, Factual

SILICON BEACH’S SLEEPING GIANT: SYSTEM1

How Michael Blend & Chuck Ursini built the quietest tech behemoth by the beach and raised $270M

THE 2018 NEXTGEN 10 PLUS:

Golf in Augusta; Wine in Australia; Aston Martin & McLaren new releases; Niki Nakayama; Patek’s popup

Visionaries of the Year

KOBE BRYANT + JEFF STIBEL Through their $100M venture fund, Bryant Stibel, the Laker legend and the renowned entrepreneur and investor are pursuing shared passions: a longing for knowledge, a thirst for success, and a necessity to build, create, and affect change

Sunday morning in late January. I’m sitting with my wife and our 13-month-old daughter. Texts start pouring in. There was a helicopter crash in Calabasas, miles from where I grew up. Reports that Kobe Bryant was on board. Th ree other people, then four.

Then eventually nine altogether. No survivors.

I run a media company. I trust the media. But I didn’t want to trust this. It couldn’t be true. I kept playing with my daughter.

I looked at my wife; she could tell I was in shock. The texts didn’t stop.

Minutes later, I sent a text to my friend. Then a call. Straight to voicemail. Finally, a text back from Jeff. He was with Vanessa Bryant and the family. It’s true. Kobe and his 13-year-old daughter, Gianna, were both on board.

On January 26, 2020, social media was flooded. There wasn’t a missed opportunity to praise Kobe and Gianna and the seven other people on the helicopter and offer public sympathy for their passing. Anyone that grew up in Los Angeles during his tenure with the Lakers loved Kobe. He WAS Los Angeles. We won and lost with him. His accomplishments and hard work reflected what we aspired to be. And looking back now with perspective, he was so young. So young when he went to the Lakers at an age most are still trying to figure out what their college major will be. So young when he started winning championships. So young when he retired at the age of 37. And so young when he passed away that Sunday at the age of 41. Kobe Bryant will be remembered as a legend, a family man, and a businessman whose influence

08

impacted unimaginable numbers of children and adults around the world.

As partners, spouses, friends—as humans—we are getting busier every day. Life moves faster, distractions abound. Th is can lead even the best intentioned of us into some contentious and short exchanges. We don’t realize that the words we speak may be the last argument or conversation that we will have with someone we care about. In an instant, lives are devastated, and there are no more chances to say hello, or I’m sorry, to their face again. Let’s all be thankful for our friends, family, and those around us every day, whether we know them or not. Hug more, love more, and say sorry more. Life is too short. Infinite prayers to Jeff, and to all who knew Kobe Bryant the person and the legend, his daughter Gianna, and the other seven people on that helicopter. And to the Bryant family, who lost a father, a husband, a role model, and a child.

As we each strive for success let’s not forget what it’s all for.

Make the world a better place, advocate for equality, live creatively and passionately, and take care of the people we love. The CSQ family and I dedicate this issue to the nine souls lost that day.

David L. Wurth Founder & Publisher

david@csq.com

Photo Credit: Andrew Bernstein

Founder’s Note

I’m in control of my corporate spend.

Vroozi

Join the Vroozi Marketplace and you will be too.

MODERN

MOBILE

FLEXIBLE

Vroozi customers tell us our software makes them more agile, competitive, profitable and well prepared for the next economic downturn. Plus, their employees love our modern and mobile solutions. vroozi.com/csq | sales@vroozi.com |

Contributors

MARTINE BURY

CHRIS CASACCHIA

ANDREW DALTON

Journalist, strategist, and storyteller, Martine Bury kicked off her career as a staffer at Travel + Leisure and has served as a lead editor for national, regional, and custom media brands. Most recently, she helmed design magazine Surface. Her work has appeared in Sunset, C Magazine, LALA, Vogue, and New York. Although her globetrotting adventures regularly take her across the U.S., Mexico, Europe, and Africa, she’s equally content meditating in her New York City apartment.

An award-winning journalist and media consultant, Chris Casacchia is based in Los Angeles and specializes in business, technology, and cannabis coverage. As technology editor at the Orange County Business Journal, he profiled some of the most successful and influential executives in the world, while breaking global, national, and regional news stories. His writing has appeared in MSN Money, Marijuana Business

Andrew Dalton has been a journalist for 20 years, most of them with the Associated Press in Los Angeles, covering wildfires, earthquakes, elections, sports, and entertainment. He specializes in writing obituaries, and has penned obits for Leonard Cohen, Hugh Hefner, Gore Vidal, and many other major figures in arts and entertainment. He lives in South Pasadena, Calif., with his wife and three kids.

Favorite app? Evernote has really come to my rescue as I’m always on the go and managing multiple projects. All my documents, to-dos, and ideas are in one place.

Instant Classic, p. 32 Urban Retreat, p. 29 Mix Master, p. 23

Daily, Sporting News, Barron’s, Science News, and other national outlets.

Favorite gadget? Amazon Echo, hands down. Great for interview and meeting reminders, cooking alarms and tips, and the smart home—with an impressive music library to boot.

Molecule Man, p. 54

Favorite gadget? My Nikon Monarch binoculars. Binoculars feel like old technology, but the modern, high-powered ones are still a fabulous tool at sporting events, concerts, and awards shows, for both journalists and fans.

Overachiever to the Underserved, p. 62

Contributors KATE DONNELLY

CHRISTIAN NAVARRO

BRUCE WALLIN

Travel, food, and lifestyle writer Kate Donnelly lives in New York City. Her work has appeared in T: The New York Times Style

President and principal of Wally’s, the luxury, wine-focused retail and restaurant operation with locations in Beverly Hills and Santa Monica, Christian Navarro began with the brand in the early ’90s. Today, as a partner, he has transformed Wally’s into a world-class, experiential concept that includes a fine wine retail store and cheese shop encompassed by an elegant restaurant setting. His clients include many of the most powerful people in the entertainment, art, and political worlds.

He is also a regular contributor to publications around the world and has developed partnerships with corporations including Christie’s, Delta Air Lines, and Four Seasons.

Bruce Wallin is a media consultant, travel expert, and editor in chief of Ovation, a luxury-lifestyle magazine for the sports and entertainment industries. He previously served as editorial director at Robb Report, where he spearheaded the luxury-media brand’s print and digital content for nearly 15 years. In his more than two decades as an editor, producer, and travel specialist— he was the cofounder and editor of Trip magazine in the ’90s—he has been a featured speaker and panelist at conferences worldwide and an expert source for media outlets ranging from The Street to CNN.

Magazine, The Wall Street Journal Magazine, Travel + Leisure, Architectural Digest, Town & Country, CN Traveler, and others.

Favorite app? I like pop-cultural apps that are based in astrology: Co-Star and The Pattern.

Favorite gadget? My Bose SoundSport

earbuds. Everyone who knows me knows I am a communication and music freak and these earbuds are on me 24/7, 365.

The Wild Rocking West, p. 88

10

Light Tread, Bold Results, p. 22

Favorite app? Hopper helps me jump around the globe with complete confidence that I got the best possible deal on flights.

Antidotes for Over-Tourism, p. 90

AEG

E N T E RTA I N I N S T Y L E AT ‘ 2 1 ’

21 Club

Impress your guests with fine cuisine, unsurpassed service and rich heritage at this iconic New York venue in the heart of Midtown. Offering 10 freshly revitalized and dynamic private dining rooms as well as audio-visual and professional planning services, ‘21’ is certain to exceed your expectations.

21 West 52nd Street, New York, NY 10019 • 212 582 1400 / planevent@21club.com • www.21Club.com

14 Tech and Gadgets 15 Cigars 16 Wine 17 Spirits 18 Style 20 Water 22 Land 23 Air 26 Furnishings 28 Private Clubs 30 Watches

The Mercedes-Benz VISION AVTR concept car debuted at this year’s CES. Read about the best in show on page 14.

CSQ Q1 2020

Desirables

Part 1

Desirables - Cover

13

From personal robots to a 10-second toothbrush, there was plenty to see and even more to talk about at this year’s Consumer Electronics Show.

If you weren’t one of the 170,000-plus attendees, here’s what you missed. By Ben Bloch

TECH AND GADGETS

The Best of CES

SONY’S VISION-S CONCEPT CAR Sony’s rollout vehicle at this year’s CES show exists somewhere between a concept and a prototype. Like a concept, it’s meant to showcase the ideas Sony has for the world of cars. But like a prototype, the car actually works. The long list of features gave Sony bragging rights throughout the conference, and it’s no surprise that plenty of that focus fell on the entertainment experience and user interface. The touchscreen menu animations were described as clever and fluid, with the capabilities of multitouch gestures, adding to the user experience.

Concept only; sony.com Y-BRUSH This 10-second toothbrush replacement was back at CES this year with a finalized design and big promises to save time while providing efficiency. The French company FasTeesH sought to reimagine how we brush our teeth. Instead of moving the small head of a regular toothbrush from tooth to tooth over the course of two minutes, users place the Y-brush in their mouth like a mouthguard and let the device work its magic all at once. $125; y-brush.com GURU WIRELESS POWER ROBOT For decades, the idea of truly wireless power transmission has been out of reach, but Guru is promising a bold future without wires. Born out of the California Institute of Technology,

Desirables - Tech

GuRu has developed technology that transmits electricity using high-frequency radio waves, applied to three products so far: a desk-based charging system that can wirelessly charge pretty much any gadget within a few feet; a room-scale version the size of a ceiling tile with significantly

DELTA’S SARCOS GUARDIAN EXOSKELETON Delta Air Lines partnered with Sarcos Robotics to demonstrate the Guardian XO industrial exoskeleton, a battery-powered, full-body exoskeleton designed to boost human performance and endurance while helping prevent injury.

The suit can be put on or taken off in about 30 seconds and promises to do your heavy lifting: up to 200 pounds for up to eight hours at a time. Delta’s front-line employees are working with Sarcos to determine potential operational uses for the Guardian XO, as the airline aims to improve workplace safety while expanding its industry lead.

The Guardian XO suit will go on sale in the third quarter of 2020, for $100,000 per unit; sarcos.com

more range; and the showstopping, roving, Roomba-like robot that moves around a large space and charges small, smart-home gadgets. GuRu is in the final stages of FCC approval, which should allow the company to bring its first product to market later this year.

guru.inc

OCULUS QUEST VIRTUAL REALITY ALL-IN-ONE HEADSET Touting no PC, no wires, and no limits, this VR headset offers users transformational experiences. It’s an all-in-one gaming system that can be played in any space, with controllers that transport your hands and gestures right into the game. According to the company, your slashes, throws, and grabs appear in VR with intuitive, realistic precision.

From $399; oculus.com MERCEDES VISION AVTR A meeting of the minds between James Cameron and Mercedes-Benz delivered an almost too futuristic concept car inspired by the 2009 movie Avatar. The VISION AVTR concept car is a mix of everything CES is known for: outlandish styling, far-off future tech, and a tie-in with a major entertainment property. With spherical wheels that allow the car to move in a crab-like manner, integrated solar panels, and an interior meant to encourage immersion, it’s easy to see why Ola Källenius, chairman of Mercedes-Benz’s parent company Daimler, said on stage that it’s an example of how man and machine might “literally merge.”

Concept only; mercedes-benz.com 14

DESIRABLES

CIGARS

Nice Blended

By David R. Weiss, President and Owner, Lone Wolf Cigar Company, lonewolfcigars.com

The concept of innovation in the cigar world boils down to cultivation and blending.

New tastes when burning dead leaves are difficult to come by. There are dozens of varieties of cigar tobacco grown all over the world, but how these unique strains are blended together can create an exponential variety of strengths and flavors.

Blenders must be masters of their craft, which is part horticultural science, part intuition and experience, and part a touch of magic and serendipity, leading to truly a unique finished product.

Here are five exceptional cigars that are the result of growers and blenders taking chances and bucking more predictable paths.

ARTURO FUENTE OPUSX It was always assumed that the soil characteristics of the Dominican Republic made it an unsuitable place to grow cigar-wrapper tobacco. That is, until the Arturo Fuente brand put their horticultural expertise to work and proved the common wisdom wrong. The Fuentes not only grew the first useable Dominican wrapper tobacco but the world’s first Dominican puro cigar, the OpusX, which revoLFD 2020 SPECIAL FOOTBALL EDITION La Flor Dominicana is one of the few companies that offers spicier fare from the Dominican Republic. And in celebration of America’s most famous sports contest, the NFL Super Bowl, LFD wanted to create something unique.

With a massive 58-ring gauge, what makes this cigar truly special is an “inlay” of a football

lutionized the industry and created one of the most iconic cigars ever produced.

In contrast to the mild, smooth reputation of most Dominican-grown tobacco, the Opus is full bodied, with a moderate spice not usually found in cigars grown and produced in the famed island nation. Bold strength tempered with a rich, complex sweetness makes for a truly unique blend that has become one of the industry’s benchmarks of innovation. $17.99; arturofuente.com on the cigar, created from lighter Dominican shade tobacco contrasting the darker Ecuadoran Habano that makes up the bulk of the wrapper. A single leaf of wrapper tobacco can be very delicate and difficult to work with just to create a normal cigar, so it’s truly an innovation to weave an artistic design into the wrapper using different tones. $16.99; laflordominicana.com

Desirables - Cigars DAVIDOFF ESCURIO

Most cigars have a relative amount of consistency of flavor as you smoke. One of the most interesting and successful innovations in the cigar business is the blending of different tobaccos to create a cigar more complex than just the sum of its parts. Blending smoother, DAVIDOFF FLORIDA Most cigar tobacco is cultivated in the Caribbean and Central and South America. The rich, tropical climate and soils provide the perfect blend of consistency and mineral content for the finished product. In the United States, tobacco is grown in the South, mostly for pipes and cigarettes, while Florida is the PADRÓN ANNIVERSARIO Until the mid-’90s, most cigars were relatively smooth and mild affairs, with Cuba, the Dominican Republic, and Honduras being the most popular choices for tobacco sources.

The Padrón family had been making cigars from Nicaraguan tobacco since the 1960s, with a spicy, bold flavor profile. In 1994, to celebrate the company’s 30th anniversary, the Padron family created an iconic cigar that revolutionized the cigar world. The 1964 Anniversario was as bold and spicy as you’d expect from Nicaragua, but had a unique,

CSQ Q1 2020

milder tobacco from the Dominican Republic, sweeter, richer flavors from Brazil, and a bolder, spicier Habano wrapper from Ecuador, the Escurio offers a complex, rich mix of flavors that is both spicy and sweet, similar to the fairly recent trend of lacing chocolate with hints of cayenne pepper.

$17.99; us.davidoffgeneva.com mecca for cigar production and distribution.

Yet no cigar tobacco was grown in the state until recently, with an experiment on a small farm in Clermont. Davidoff combines this product with their Nicaraguan leaves, creating a blend that adds a special flavor, complexity, and sweetness to its line. $29.99; us.davidoffgeneva.com unexpected complex richness with chocolatey sweet undertones. In addition, it was presented in a box-pressed, squared-off shape.

When the Anniversario started competing with the best of the Dominican and Cuban cigars in trade-magazine ratings, the industry took notice, scrambling to follow suit. Soon bold, spicier Nicaraguan fare was all the rage, a trend that continues to this day, but no one truly surpassed Padrón’s benchmark, which continues to be one the most sought after and highly rated cigars available. $12.99; padron.com 15

ON SITE AND OUT OF THIS WORLD: ACTI­ VITIES FOR VISITORS TO PODERE LE RIPI

WINE

Light Tread, Bold Results

Tours and Tastings Allow the experienced staff to guide you through the entire winemaking journey: from biodynamic farming in the vineyard (including the Bonsai) to grape processing in the Golden Cellar. You will end up in the panoramic tasting room for a sampling of the vineyard’s best bottles.

One of Italy’s most renowned coffee producers has moved into the wine business to create robust wines on a biodynamic vineyard. of Wally’s Wine & Spirits, wallywine.com

The Tuscan Garden Experience Learn about the most important Brunello vineyards, the concept of microclimatic differences, and the respectful practices of biodynamic farming. The tour path is designed as a learning game, developed with younger and older guests in mind, with easy walking. The staff explains how understanding and respecting

I am constantly traveling the globe, hunting for world-class food, wine, and spirits with stories that are exciting and completely unique. Each quarter, I get to bring these stories to the pages of CSQ. Among my latest discoveries is an incredible wine estate from the Montalcino region located in the hills of Tuscany. Run by Francesco Illy, an interesting gentleman who is consumed by purity, quality, and nature, Podere le Ripi is unlike anything I have ever seen. Illy is a nature photographer by trade and comes from a renowned coffee background, with his grandfather, also named Francesco, founding Illy coffee, which continues to create some of the finest espresso available. With a family immersed in the beverage business, it’s easy to see how the younger Francesco Illy might want to create his own specialty—this time grown under the Tuscan sun.

When Illy was looking for a place to call home, he looked far and wide for a magical site where he could produce wine in his own special way. When he found Podere le Ripi in 1998, it was an ancient property untouched by human intervention, a 133-acre estate with hundreds of olive trees, surrounded by forest and wild vegetation. He saw it as the perfect place to create his dream.

Illy wanted to keep his wines as natural as possible, preserving the ecosystem and having the smallest carbon footprint necessary, so he worked to make the estate completely biodynamic. Now, Podere le Ripi is making a variety of wines, producing a delicious grouping of Rosso di Montalcinos with a fabulous array of Brunello di Montalcinos and a tasty Tuscan white as well.

But he wasn’t satisfied with only making world-class wine. An innovator like his grandfather, who created the first automatic espresso machine in 1935, he wanted to take things to another level and find new methods of growing grapes.

He dedicated a section of the vineyard to a method he calls Bonsai, planting its 3.5 acres as the densest vineyard in the industry, with

vines planted just 15 inches apart, a planting technique unheard of in traditional wine producing. No one had dared plant such a vineyard, as most vines are usually no closer than six feet apart. Planting grapes just more than a foot apart should make it too hard for the grapes to grow, forcing them to fight for nutrients and water. However, Illy had faith in the process, and the results have turned out to be amazing.

He found that the vines compete against each other, forcing them to grow deeper into the soil

By Christian Navarro, President and Principal

the land is part of Montalcino culture and allows them to become great winemakers. Walk through gardens of beautifully grown tomatoes, carrots, pumpkins, lettuce, zucchini, and strawberries, and meet well-behaved farm animals.

Guests have the opportunity to dress in farmer clothing from head to toe to feel like they’re a part of the vineyard family. This experience also includes the cellar tour and wine tasting.

Fly Brunello Tour The staff at Podere Le Ripi will organize your entire day, showing you the best of the Tuscan wine regions from a helicopter, plus exclusive wine tours in two prestigious wineries: Podere le Ripi and Castiglion del Bosco. Conclude your day with lunch at Silene, a Michelin-star restaurant on the Amiata Mountain. Helicopter pick-up/drop-off can be arranged depending on your location.

Desirables - Wine

16

DESIRABLES

to reach for the nutrients they need. This creates a wine with depth, minerality, and a floral quality that captures the true essence of Tuscany.

The Bonsai vineyard is planted with 100 percent Sangiovese, which produces a variety of flavors, including cherry, orange zest, and dried herbs, all tied together with a delicate bitter taste of sunbaked earth. This is a special estate that has something for everyone. Podere le Ripi should be on every table in the world. podereleripi.com

SPIRITS

Mix Master

Bacardi North America’s regional president shares the key ingredients for keeping a 158-year-old brand with more than 200 labels fresh and relevant. By Martine Bury Pete Carr probably knows exactly how you like your drink. With a career in the beverage business that spans more than 30 years, the man in charge of commercial operations across North America for Bacardi, the world’s largest privately held spirits company, makes it a priority to know the minutiae and movements of American tastes. Whether it’s consumers’ growing interest in aged tequilas driving new releases from Patrón, the discerning drinking habits of the millennial and Z generations, or the trending low-alcohol beverages—which leads him to share a step-by-step recipe for a Martini & Rossi Fiero cocktail (possibly the upcoming hit of summer 2020)—his enthusiasm for the more than 200 labels in Bacardi Limited’s portfolio is a hallmark of the company’s culture.

“It’s never been a better time to be in the spirits business, particularly if you play in the premium and super premium space like we do,” he says. “Spirits are growing faster than beer or wine and it’s because people are drinking more kinds of spirits, across more kinds of occasions.

Today, people like variety, whether it’s bespoke Bloody Marys during brunch at a gastropub, aperitif cocktails at an outdoor patio bar, or spirit-forward drinks by an award-winning bartender at a top cocktail bar.”

The Miami-based executive is not alone in his zeal. For the family-owned Bacardi, founded 158 years ago with the birth of top-selling rum in Santiago de Cuba, the key to remaining competitive is keeping 7,000 employees completely immersed in the company culture and keeping each brand true to their unique histories, from icons like Grey Goose, Dewar’s, and Bombay Sapphire, to upstarts like William Lawson’s whiskey, Angel’s Envy bourbon, and St-Germain elderflower liqueur.

Run with a family ethos, Bacardi has twice earned Great Place to Work certification, while the company overall has held its place on Forbes’ list of the World’s Most Reputable Companies seven years in a row. Employees enjoy scores of thoughtful programs that range from personal days for community service during Corporate Responsibility Month to the Next Gen competition, which encourages employees to submit a concept or passion project. Employees create teams, devise plans, and pitch them to leadership who in turn grants funding and R&D time to bring the ideas to market. Winning ideas have included the creation of an eco-conscious method for manufacturing soap from discarded lemons used in cocktails, and a mixology training program for underemployed young adults. It makes sense for this portfolio of legacy spirits to have a corporate culture that rests on the pillars of “fearless, family, and founders.”

“At Bacardi, just because your title says one thing doesn’t mean you are confined to just that job,” Carr explains. “And a founder’s mentality is about having the spirit of entre-

preneurship at the heart of everything we do and treating the company as if it were your name on that bottle.”

Intense community-building inside Bacardi extends to its brand ambassador program, out-of-the-box marketing and advertising strategies, and nurturing of individual brands, resulting in a potent cocktail that keeps the company winning. Recently, the Bermudabased corporation acquired Patrón tequila, a power move that has engendered a growth rate of 7.5 percent, thanks to Americans’ insatiable appetite for tequila.

Carr is predicting the next payoff will come from our craving for rum—you might soon be asking your bartender for a classic mojito or a rum-based old-fashioned. One of his own go-to cocktails is Bacardi Reserva Ocho (a recipe created in 1862), on the rocks with an orange peel. “For the past few years, we’ve heard quite a lot about the premiumization of vodka, tequila, gin—but rum has been left out of the conversation,” he says. “Turns out, it’s now rum’s turn to go premium. And who better to do it than Bacardi? We’ve led the rum category since our inception and our maestros de ron are able to pull from seven generations of rum-making experience at the company.”

The way he sees it, it’s all in the family. And it’s also in the mix of innovation, experimentation, and allowing each label to grow at its own pace. “We’re lucky in that we don’t have to answer to the street,” says Carr. “We’re not tied to market pressures so we can do the right thing for our brands, our people, and our partners. We think about building a future for the next generation.”

Desirables - Spirits

1 CSQ Q1 2020

1. Bacardi North America’s regional president Pete Carr.

17

How not to be basic when you’re dressing for success in tech. By Samantha Brooks

STYLE

Beyond the Hoodie

LOS ANGELES MEN’S

WOMEN’S

1.

2.

2.

1.

Desirables - Style

3.

3.

4.

5.

6.

4.

7.

5.

6.

7.

8.

1. HERNO 2. MAD PARIS ROLEX 3. ACNE STUDIOS 4. OFF-WHITE 5. YEEZY 6. BVLGARI 7. PALM ANGELS 8. NIKE

18

DESIRABLES

$578 $43,839 $100 $90 $441 $520 $95 $153

1. BRUNELLO CUCINELLI 2. TOM FORD 3. ISABEL MARANT 4. RAY-BAN 5. VALEXTRA 6. ETRO 7. ISABEL MARANT

$2,995 $2,861 $1,038 $163 $4,750 $757 $619

Perhaps no eCommerce marketplace has broken the mold quite like Farfetch. Founded in 2007 by José Neves and launched in 2008, the company began as an eCommerce marketplace for luxury boutiques around the world, linking their unique inventory for online distribution instead of warehousing its own supply. Today, the Farfetch Marketplace connects customers in 190 countries with items from more than 50 countries and over 1,200 of the world’s best brands, boutiques, and department stores. The result is an extensive selection of luxury on a single platform.

The company has expanded to create Farfetch Platform Solutions, which service enterprise clients with eCommerce and technology capabilities; Browns and Stadium Goods, which offer luxury products to consumers; and New Guards Group, a platform for the development of global fashion brands such as Off-White, Palm Angels, and Alanui. Farfetch also invests in innovations such as its Store of the Future augmented retail solution, and develops key technologies, business solutions, and services for the luxury fashion industry. Here, we’ve partnered with them to curate looks for the tech set. All items available on farfetch.com.

NEW YORK WOMEN’S

MEN’S 1.

2.

1.

3.

2.

4.

4.

3.

5.

Desirables - Style

1. DONDUP 2. MAD PARIS PATEK PHILIPPE 3. ERMENEGILDO ZEGNA 4. SUPREME 5. MAISON MARGIELA 6. BOTTEGA VENETA 7. ELEVENTY

CSQ Q1 2020

5.

6.

6.

7.

7.

$599 $333,638 $567 $229 $785 $3,300 $325

1. BOTTEGA VENETA 2. MIU MIU 3. ROLEX 4. NOOR FARES 5. SAINT LAURENT 6. THE ROW 7. ATP ATELIER

$2,529 $360 $12,035 $3,630 $350 $5,158 $312

19

Float On How 70-year-old yacht builder Feadship has created its own rarefied world at sea. By Martine Bury

Desirables - Water In hospitality, there are people known as Aman hotels junkies, feet firmly on the ground. At sea, there are Feadship addicts, reaching for their superyacht dreams, which this 70-year-old, category-leading shipbuilder fashions into reality.

By way of a signature bespoke process that enables purchasers to collaborate with experts, a Feadship is as much feat as it is finery. The company’s in-house creative team, Studio De Voogt, is the world’s third largest studio devising 45–100-meter-plus superyachts, tai-

2 20

DESIRABLES

lor-made to client’s wish list. They’ve designed the majority of Feadship’s fleet, from concept to drawings and renderings to specifications, working hand-in-hand with the engineers of De Voogt Naval Architects and Feadship Yards.

In 2019, Feadship celebrated 70 years of yacht building with a string of notable launches, beginning with a new shipyard (the world’s most sustainable and high-tech) in Amsterdam, which was toasted in May 2019 by Her Majesty Queen Maxima of the Netherlands.

The company also leaned into its brand presence, utilizing digital media and a series of videos and films as powerful storytelling tools and lifestyle influencers, building an ecstatic, exclusive community.

Looking back on some the shipbuilder’s most iconic and accoladed builds, nearly every launch has something remarkable. In recent years, there has been the 2018 Sherpa, the explorer-like ship for a repeat client, complete with helicopter platform and capabilities of transporting a range of large tenders and land vehicles for around-the-world adventures. Also in 2018, Feadship launched Anna, the company’s largest ship to date, coming in at 110 meters and featuring the first bespoke diesel-electric propulsion system and landing pad for a tilt-rotor aircraft. The architectural ship shows sculpted balconies, slabs of glass, and metallic silver and jet-black accents.

Photo Credit: Feadship

WATER

1

3

Show Off

1. Dutch shipbuilder Feadship is known for such remarkable builds as Anna, the 110-meter yacht launched in 2018.

The acclaimed Superyacht Experience makes its North American debut in Palm Beach.

By Samantha Brooks

3. Savannah’s stunning pool.

4. Currently listed for at $107M, Hasna will be just one of the superyachts available for guests to explore at the new Super yacht Experience in Palm Beach this spring.

5. Excellence, a 153-foot Feadship will also be on view and list for sale at $16.9M.

Desirables - Water

Not to be left out from the South Florida boat show scene, the Superyacht Experience will come to Palm Beach this spring from March 26–29, offering visitors a more relaxed setting to the otherwise large and chaotic shows the region is typically known for hosting. Exhibiting in the Rybovich Marina in West Palm Beach, the show is in complement to The Superyacht Experience Barcelona, which will occur for its third time from May 6–9. Both shows are put on by LYBRA (the Large Yacht Brokers Association), made up of the world’s leaders in yacht brokerage and charter.

The show aims to focus exclusively on some of the world’s finest superyachts for both sale and charter. Among the highlights from this year are the 240-foot ship Hasna, built by Feadship and for sale at $107M. The ship includes a 26-foot-long pool, a beach club with a gym, a 10-seat theater, and a spa with a massage room and hairdressing salon. The six-bedroom ship also has an elevator, wine room, and a sun deck with hot tub. Another Feadship build, Excellence, will also be on view. The 153-foot ship was built in 2001 and just refitted in 2019 with new audio/video an iPad integration, new paint, and freshened soft goods in a luxe, neutral palate to complement the dark woods used throughout. The turbine was also overhauled so that she can reach 34-knot max speed. Currently for sale, CSQ Q1 2020

2. Sherpa features explorer-like styling for around-theworld expeditions.

And of course, there’s the 83.5-meter Savannah, launched in January 2015 as the world’s first hybrid superyacht, complete with eco-friendly diesel engine, three gensets, batteries, propeller, azimuthing thruster, and streamlined hull—not to mention exquisite curvilinear interiors free of corner. The ship also features a glass wall on one side of its hull, for aquarium-like viewing, which can be covered with a screen to become a movie theater.

It’s apropos. Beyond exquisite design, Feadship is part of a more epic journey. The Netherlands-based company’s own storied past, rising out of the devastation of World War II to continue family traditions that date back to 1849, takes legacy to a daringly modern edge, designing and building luxury vessels with one outstanding mandate: imagine. It’s what Dutch shipbuilders have been doing since they dominated the Golden Age. feadship.nl

with US duty paid, at $16.9M. Both ships are available through Burgess, which will also be one of the show’s leading sponsors.

The exclusive event is designed to exhibit only a handful of the top ships to the top yacht buyers and those looking to charter. Those looking to attend should contact the show through its website. superyachtshowpalmbeach.com

4

5 21

As the sun sets on Bentley’s 100th anniversary, the automaker is positioning itself not only as a reliable name in the ultra-luxury market, but also as a leader in the next generation of innovation and technology in high-end automotive. By Geoff Nudelman

LAND

From Mainstay to Leader: Bentley’s Upward Transition “Our main direction for the future is to become the most sustainable luxury brand,” says Bentley Americas President and CEO Christophe Georges.

To that end, Bentley has shown its hand with the EXP 100 GT concept. The grand tourer is a vision of what ultra-luxury can be: a fully electric vehicle with a 435-mile range, 0–60 in less than 2.5 seconds, and a top speed of 186 mph, not to mention paint derived from rice husks and a non-leather interior crafted with sustainable dyes.

Perhaps more impressive is the company’s commitment to vehicles with a new standard of environmental awareness. It broke ground in December 2018 on a 50,000-square-foot, high-tech engineering center that will influence design and production for decades. The building will include temperature-simulation labs, emission-control setups, and more.

“This big investment in engineering shows our understanding that sustainability goes well beyond electricity,” Georges says. “It involves a lot of different aspects and puts a clear focus for us on innovation.”

In October 2019, Bentley announced that its UK factory in Crewe was certified carbon neutral, marking a fi rst for the luxury automotive industry. Th is is the same factory that builds the Flying Spur, a significant milestone for the marque with one of its flagship models. The 2020 edition includes a number of upgrades from the second-gen model, such as active all-wheel drive, enhanced display technology, and a 15 percent efficiency improvement over the last-generation W12 engine.

The Flying Spur is noticeably sleeker and more modern than past Bentleys—a nod to the changing face of the brand’s demographic. Part of the company’s progress comes from recognizing that the core buyer is changing and adjusting direction to remain relevant.

“The power of storytelling matters even more now,” Georges says. “People are more interested in what’s behind the product. There’s only room for luxury that has a maximum impact.”

Georges notes how everything from material sourcing and custom-fi nish vehicles to technical education and the way the automaker works with owners is more important than ever in the messaging of the brand, with sustainable practices an increasing priority for consumers.

“Authenticity and craftsmanship: Th is is the value of new luxury,” he says. With those sentiments, Bentley is positioning itself as a leader in technology and innovation across the entire automotive industry. bentleymotors.com

Desirables - Land

22

DESIRABLES

1

1. The EXP 100 GT concept car, the brand’s vision for 2035.

2. Bentley Americas President and CEO Christophe Georges.

3. The new Flying Spur.

2

3

AIR

Farther, Faster Make room on your bucket list.

By Carolyn Meers

Luxury jet–tour operator TCS World Travel has just announced a number of enticing new itineraries that span the planet. Throughout 2020, explore the world on TCS’s custom Boeing 747 private jets (which can carry up 76 passengers) and their Airbus A318-100 private jet (which seats up to 28). Upcoming itineraries include multi-day excursions traipsing Northern Europe, Australia, New Zealand, Brazil, and Southern Africa, to name a few. The grandest adventure? A 25-day “Around the World” trip to the world’s most iconic destinations, from Machu Picchu and the Taj Mahal to the Easter Islands and Tanzania’s Serengeti.

Come 2021, a new 52-seat Airbus A321LR will take flight, deliberately designed to nimbly touch down in remote locales traditionally unreachable by commercial airliners. Powered by state-of-the-art NEO engines, the A321LR burns 20 percent less fuel than current Boeing 757s, and its extended range tops eight hours (approximately 4,000 miles). Its plush interiors will be outfitted with Italian-made leather flat-bed seats and the largest cabin by height and width of any single-aisle aircraft. tcsworldtravel.com

Fly Buy

Desirables - Air

1

Fresh new flights, curated experiences, heath-focused programs for pilots—JetSuite and hop-on air carrier JSX are taking off.

By Carolyn Meers

This April, JetSuite—a charter air company founded in 2009—will team up with public charter flight operator JSX to launch a new set of flights between cities on the West Coast and the southwestern U.S. With five daily round trips on 30-seat jets from private terminals that easily sidestep airport crowds, routes will ferry clients between Portland International Airport and Seattle’s King County International Airport-Boeing Field. JSX also recently added Phoenix as a destination, with flights to/from Burbank, Las Vegas, and Oakland. And, to make buying your season ski pass ahead of time that much more appealing, four-year-old JSX will offer seasonal flights to Mammoth Lakes from both Burbank and Orange County this coming December.

Recently, JetSuite joined forces with luxury travel company Embark to launch JetSuite Experiences, one-of-a-kind curated excursions CSQ Q1 2020

2

1. JSX will offer a new route between Burbank and Mammoth Mountain.

2. JSX offers hop-on flights, free of airport crowds.

3. One of the plantes in JetSuite’s fleet.

3

around the globe. Get whisked away to take cooking lessons at Thomas Keller’s French Laundry in Napa. Go dog-sledding in the backwoods of Aspen. Mountain bike in Arizona’s Sonoran Desert. These are just a few of the program’s top-tier getaways.

In a more health-focused, forward-thinking move, JetSuite has partnered with global recovery company Hyperice to give pilots access to their products and services in an effort to support their wellness, recovery, and performance. Hyperice’s portable inflammation-fighting devices, popular among professional athletes, are designed to help relax and loosen muscles, increase circulation, and enhance range of motion and flexibility—all essential to help with multiple short-haul flights daily, as well as long-haul treks. jsx.com; jetsuite.com 23

walkerzanger.com 16719 Schoenborn St North Hills, CA 91343

CUSTOM CONTENT

Headquarters: Los Angeles, California Scope: 13 showrooms and slab galleries, 200 authorized dealers nationwide and 120,000-square-foot

Walker Zanger North America’s Leading Tile and Stone Design Resource

1

ceramic tile manufacturing facility in San Miguel de Allende, Mexico Showrooms: North Hills, California; San Francisco, California; Tustin, California; West Hollywood, California; Atlanta, Georgia; Las Vegas, Nevada;

How does a premier brand stay relevant in the design world, where everything is special (and nothing is)? It’s a question that drives Walker Zanger forward in 2020. For over 60 years, the renowned tile and surface brand has maintained its iconic status by pushing the boundaries of what’s possible. Their brand formula is simple in theory, yet virtually impossible to replicate. In their pursuit of what is authentic, original and inspirational, the family-owned company has established straight-to-the-source supply connections around the world and exclusive designer collaborations that reinforce the Walker Zanger allure. Their roster of high-profi le projects—spanning from

Perth Amboy, New Jersey; New York, New York; Port Chester, New York; Charlotte, North Carolina; Dallas, Texas; Dallas Design District, Texas; Houston, Texas.

The Prudential Tower, Newark; Bergdorf Goodman, New York; 600 Madison Avenue, New York; The Apple Store, Chicago and New York; Tumi Store, New York; The Viceroy Hotel, Anguilla; Notable Projects: Bellagio Hotel, The Getty Villa, Malibu; Las Vegas.

residential to retail, hospitality, and museums—speaks to their ability to deliver beautiful materials on a massive scale and the expansive nature of their product line. Their 13 showrooms and slab galleries are known as epicenters of inspiration; even if there is not a showroom in a designer’s city, there are 200 authorized Walker Zanger dealers nationwide (whose businesses are often elevated simply by their association with the brand) ready to spark creativity. The Italian office at Walker Zanger oversees the entire sourcing process of beautiful natural stone materials; working with second and third generation stone experts to ensure only the best quality stone materials are shipped.

Walker Zanger

2 24

PROMOTION

3

“Walker Zanger is where design is realized. It’s a place of aspiration and inspiration.

It’s a place where interior desig­ ners, architects, and home­ owners can go to discover the finest materials in the world — or find an expert who can guide them toward new materials, styles, innovations and specialty surface products.” — Jonathan Zanger, president 1. Walker Zanger’s 127,000-squarefoot headquarters in Los Angeles.

2. One of several flagship showroom locations featuring expansive tile, stone and designer collections and curated indoor slab gallery.

3. Apple Store project in Chicago.

4

5

where some of Walker Zanger’s most popular ceramic tile collections—including Studio Moderne by Michael Berman, Vibe, Ceramica Alhambra and Mizu—are produced today.

Walker Zanger acquired the facility in 2009 to “ensure the viability of the long-term ceramic supply chain, guarantee timely production Trendsetting Since Walker Zanger is often the first to dis- and provide a facility where we can expericover new materials, styles, innovations and ment with future product collections,” said specialty surface products, the company re- Jonathan Zanger at the time. To this day, the cently launched a new campaign called “De- facility is one of the world’s largest artisan cesign Realized.” They announced four styles ramic tile manufacturing sites and one of the and trends influencing the design world, largest employers in the area. along with a curated selection of products.

The idea behind the campaign was to spark Iconic Brand Status imaginations, and guide designers and home- Having such exclusive access to quarries and owners towards the ultimate goal of “De- crafting sites provide Walker Zanger with the sign Realized.” As marketing director Erika ability to create original products that truly Egede-Nissen noted: “Walker Zanger is the stand apart and express a style that is wholly only tile and stone company that assists cli- unique to Walker Zanger. This has been one ents on their design journey, by helping them of the reasons why some of design’s most infind and express their design style.” fluential minds have continued to lend their aesthetic vision to Walker Zanger products Front Lines of Design over the years. Famed interior designer MiWalker Zanger’s front line to design begins chael Berman and AD100 architect Robert with their relationships. Their connections A.M. Stern have also collaborated on popurun deep—sometimes spanning over gen- lar Walker Zanger collections. Australian deerations—from the people running ancient signer Pietta Donovan recently launched an stone quarries to tile craftsman and their exclusive collection of cement and ceramic families and even to the tight-knit world of tiles that pay homage to the 1970s psychedelic wallpaper as well as the colorful landscapes today’s top designers and architects.

The company’s longstanding relation- of Australia. Many of these designers have ships with the fabled stone quarries in Italy been working with Walker Zanger for years, and throughout Europe have allowed the and understand the company’s thoughtful Walker Zanger team to have first access to sourcing and commitment to quality. They excavations. With a geologist’s eye, they ap- are proud to lend their names to a brand that proach the entire process as an art form, first has a cachet all on its own.

Walker Zanger products have graced carefully selecting the untouched megalithic stone blocks that come right from the exca- many famous places and cultural landmarks, vation site and overseeing the sectioning or including the Getty Villa in Malibu, Califormapping of the stone, to ensure the natural nia, Bergdorf Goodman in New York, Apple stone’s beauty as well as integrity is pre- Stores in Chicago and New York and the Park served in slab form. Walker Zanger owns Hyatt in New York. The sheer scope of these several quarries, including a limestone quar- multimillion-dollar projects, combined with ry in Oklahoma—ensuring that they always the fact that they span across a variety of have access to the finest, most original stone building categories, underscores the strength in the world. of the Walker Zanger brand. As importers Their search for authentic craftsman who and distributors, as design collaborators and could hand-press and finish ceramic tile led as trailblazers, Walker Zanger has a trementhem to Cerámica Antique, a 120,000-square- dous influence on what today’s interior spaces foot facility in San Miguel de Allende, Mexico, look and feel like. end All of this has reinforced their enduring reputation as not just highly regarded importers and distributors of the world’s finest stone and ceramic tile, but also design’s leading influencers and tastemakers. Relevance is leadership.

Walker Zanger

4–5. Walker Zanger received the 2015 Grande Pinnacle Award from the Marble Institute of America for the stonework they supplied in the Park Hyatt New York hotel.

6. An artisan makes tiles in Walker Zanger’s San Miguel de Allende, Mexico factory.

7. The breccia caparia quarry in Italy.

6

7 CSQ Q1 2020

25

FURNISHINGS

Instant Classic Thirty-six-year-old Ini Archibong’s designs are history in the making. By Martine Bury Planes, trains, automobiles, and very brisk walks—“on the move” pretty much describes the last year of Ini Archibong’s ascent to becoming one of the design world’s most watched talents. For a man who by all measures has arrived, he spends much of his time commuting from his home base in Neuchâtel, Switzerland, to the various places his projects take him: to Paris for the fashion shows or a tête-à-tête with Hermès Artistic Director Pierre-Alexis Dumas, to New York, where he collaborates on ethereal lighting collections for the visionary gallery Friedman Benda, or to the headquarters of the iconic Knoll Furniture in bucolic Greenville, Pennsylvania, where he might be found in a huddle with the design team. Never mind the working layovers in London for Sé— or in Slovenia, Berlin, Milan—it’s all at hummingbird pace. At 36, the Nigerian-American designer is a long way from his native Los Angeles, where he began his journey at ArtCenter College of Design in the suburb of Pasadena, barely 10 years ago.

On the heels of releasing the celebrated Galop women’s watch for Hermès, launching the sumptuous Below the Heavens furniture collection for Sé, and participating in a groundbreaking group exhibition at the Dallas Museum of Art, Archibong is diving into a collection for Knoll, working closely with the company’s renowned design director, Benjamin Pardo. “The synergy is very similar to the synergy that I have with Hermès,” Archibong says. “Aside from the fact that they’re beautiful, spiritual,” eschewing minimalism, both companies with a long history in design, maximalism, or anything with a hint of trend. there’s a strong ethos to create things of high But Archibong, who grew up wanting to quality that will last.” be a banker, doesn’t have his head in the clouds; Unlike many of his peers, Archibong his feet are firmly on the ground. doesn’t think (or talk) about his “brand” or “When I started on the path to be a creative, his own legacy, nor does he drop fast-design it was based on the understanding that busicollections at big-box retail brands. He doesn’t ness-wise this was the most business-smart even cultivate his Instagram following. He is decision that I could make, to lean into a core more like-minded with his mentors, including offering that was unique, that I could literally Jerry Helling from Bernhardt Design and Eight own myself, and that nobody could ever take Inc.’s Tim Kobe, who designed the Apple Stores. away from me, and that I could have a monop“Design that’s meant to last more than 100 oly on, which is the creativity,” he explains. years,” he says. “That’s always been my man- “That comes only from me.” designbyini.com ifesto, philosophy, approach. I was meant to create those things.”

1. The SwitzerlandInspired by mythology, Archibong’s pieces based designer’s for Sé are studies in tension. His undulating Below the Heacouches pay homage to the imposing strength vens furniture of monolithic architecture but have no hard collection for Sé. edges, and his glass, marble, and brass side ta2. The 36-yearbles are balanced but play with asymmetry. The old design star young creative describes his work as “emotional, Ini Archibong.

Desirables - Furnishing

26

DESIRABLES

1

2

M A D E I N I TA LY

BY APPOINTMENT

W W W. T R O YA N T H O N Y C L O T H I N G . C O M

Troy Anthony

PRIVATE CLUBS

Los Angeles

Shining Star

With Montage-trained service and food from Wolfgang Puck— not to mention a rooftop pool, bowling alley, and music venue— The Britely might be the city’s ultimate membership club.

By Samantha Brooks

1

Desirables - Private Club LA

28

DESIRABLES

The 25,000-square-foot club will be located within the Pendry, which has taken over the original House of Blues space on Sunset Boulevard. Like the hotel, the club is designed

by Martin Brudnizki who has also created the SoHo Beach House Miami, Annabel’s in London, and the Surf Club Restaurant by Chef Thomas Keller at the Four Seasons Surf Club in Miami. “The club has been inspired by the glamour and vibrancy of Hollywood and the fresh colors synonymous with a relaxed Californian style,” says the designer. “We’ve designed an elevated space which feels rooted in the neighborhood, all whilst redefining modern-day club design.” The space will feature dark wood floors, animal-print upholstery, brass detailing, and playful patterns. Colored lacquer walls in tones of teal display whimsical artwork while floor lamps complete with pink ostrich feathers ensure the club feels playful and contemporary. But perhaps the biggest showstopper is the statement bar, which flanks one end of the club and features pink and grey marble and a striking blue and brass front.

Members will have access to the hotel facilities, including the rooftop pool and all of the dining venues, which are overseen by Wolfgang Puck. “Wolfgang is also designing the menu for The Britely, which will change frequently and also include daily specials. We’ll do curated

dinners with other top chefs as well.” The club is accessed through the hotel lobby or through a separate lift entrance and is divided into sections for dining and lounging. Among the club’s more unique amenities are the music venue, which will feature themed evenings like disco nights, as well as the bowling alley.

The club is currently accepting membership applications ahead of its opening, which will coincide with the hotel. Annual membership is priced at $2,800. While hotel guests will not have club privileges, the 42 owners at the adjacent Pendry Residences do have the perk of Britely access. thebritely.com

1. The rooftop at the new Pendry Hotel in West Hollywood.

2. The Britely private member’s club.

3. The reception area at The Well.

4. The Well’s locker rooms.

5. The meditation room.

Photo Credit: 3–6. Kris Tamburello

“It’s a strictly social club and meant for having fun,” says Estelle Lacroix, the managing director of lifestyle at the new The Britely club, opening early this summer within West Hollywood’s new Pendry Hotel. “It’s not about being on your laptop all the time, but creating an actual sense of community where you can get introduced to other members through the community manager and pop in solo on a night when you don’t have plans and be able to see people you know.”

Limited to just 2,000 members, the club aims to build an eclectic—yet curated—membership mix. “We believe in having good people, not just creative types. If you’re in finance, you won’t be turned away,” says Lacroix, who has worked in hospitality at brands that range from The Ritz-Carlton to Thomas Keller and was previously at NeueHouse and The Polo Lounge. Programming at the club will be key, with cultural events targeting members’ needs and interests, but food and service is paramount for the club.

“Although technically separate from the Pendry Hotel, our staff is still trained through the Montage/Pendry system, and we’re keen on the hospitality aspect here,” says Lacroix. “And, like the unbuttoned nature that’s inherent in the Montage brand, we don’t want our guests feeling like there are too many rules or that they have to be policed. It’s meant to be fun.”

2

PRIVATE CLUBS

New York

Urban Retreat New York’s first private wellness club promises a better you.

By Martine Bury

3

Desirables - Private Club NY 5

Rewind to the year 2009. The financial markets were inching toward recovery and, in many ways, so were we. Wellness was a burgeoning trend but had yet to become a thing—much less the $4.5 trillion industry it is today. SoulCycle was in its infancy, the short-lived Master Cleanse Diet was at peak popularity, and destination spas were still the vacation goals of a comparative few.

It was around the time that Rebecca Parekh, then a Deutsche Bank executive and a longtime devotee of alternative medicine and fitness, began drafting a business plan for The Well, a private membership club recently launched in Manhattan, that integrates many facets of self-care under one roof.

“I was looking for something like this in my own life,” she says. “I was in early, out late, and had very limited time outside of business hours to be able to tap into all the city had to offer around integrated and holistic modalities.”

She left her bank job in 2011, became Deepak Chopra’s COO, and along the way, met her like-minded co-founders Sarrah Hallock, an integrated health coach and nutritionist and former brand director of Vitaminwater, and Kane Sarhan, chief creative officer of The Well and vice president of brand at SH Group, a division of Starwood Capital Group. As the plan for a best-in-class social wellness club came toCSQ Q1 2020

4

6

gether, they assembled a noteworthy roster of by minimalist tables and chairs. Although this advisors that includes Chopra, Starwood CEO area is open to the public, it manages to exude Barry Sternlicht, and sports medicine doctor an air of luxe calme, with patrons speaking Keith Pyne, DC, whose clients include athletes in quiet tones and staff cheerfully floating Alex Rodriguez and Kobe Bryant. about, making all feel welcome.

The Well’s concept is based on members Designed to mimic the feel of descending having access to the collective expertise of this into a well, a staircase ushers members downdream team, best practices by top practition- stairs into a placid, inner sanctum, complete ers, a gathering place for a supportive commu- steam and sauna, 10 treatment rooms, locker nity, and life-enhancing amenities in luxuri- rooms, a private fitness training facility, a medous digs—all for a fee of $375 per month (plus itation dome, and comfortable spaces for intakes a $500 initiation fee). Through an integrated with doctors, coaches, and healers. Designer Liapproach, each individual member gets a team ubasha Rose of Rose Ink Workshop clearly did that includes practitioners working together her homework, incorporating details that do to optimize the person’s overall well-being, double duty, like a mesmerizing wall covered which can range from addressing chronic in silvery pyrite, reputed to have healing and health concerns to achieving fitness goals. protective properties, and glass doors to the Busy urbanites can unplug and connect consultation rooms in chakra-boosting colors. to a variety of nurturing offerings, including “We’re not here to tell people what to do or health and nutrition coaching, functional med- how to live their lives in any way,” Parekh says. icine, guided meditation, massage treatments, “What we’re trying to do is empower our memacupuncture, and clean, organic, farm-to-table bers to take greater agency for their well-being.” meals. At street level, the 18,000-square-foot With plans to roll out nine more locations, oasis offers a visual respite from the concrete Parekh and her team welcome mainstreaming of jungle. Creamy white, curved walls and soar- the wellness spa. “The objective is to be the gold ing ceilings provide a serene setting for a tight- standard for wellness,” she says. “There will be ly curated retail area and The Well Kitchen a lot of places like The Well over time. But we need and Table, with its fruit- and vegetable-lined more spaces where we can go and be and engage counter, giving way to banquettes dressed in in these services. In the long run, that will result Hermès’s whimsical Dune textile and flanked in better quality of life for all of us.” the-well.com 29

These wristwatches command attention thanks to the innovations that define them.

By Shaun Tolson

WATCHES

Buying Time

GRAVITATIONAL FORCES ARMIN STROM

SPHERICAL ILLUSIONS GREUBEL FORSEY

Desirables - Watches

30

DESIRABLES

For more than a decade, Claude Greisler and Serge Michel, co-founders of Armin Strom, have dedicated themselves to enhancing the production of complex mechanical timepieces.

In fact, the mission statement for the brand specifies that every new Armin Strom timepiece must be innovative in some way.

The brand’s latest creation, the Gravity Equal Force, boldly adheres to that mantra.

Inspired by a pocket watch and equipped with a motor barrel design, the timepiece features a stop-works declutch mechanism, the first time such a mechanism has been added to an auto-winding movement. Essentially, the mechanism reverses the way a barrel operates, producing greater accuracy and a 72-hour power reserve. “We have reinvented the whole functionality of an automatic watch movement to bring another level of precision,” Greisler says, “and to offer our collectors more assurance for reliable daily wear.”

The Gravity Equal Force introduces a new collection for the brand—called System 78— and carries a price tag of about $17,300.

Greubel Forsey’s latest creation, the GMT Sport, is a lightweight, ultra-strong, 45-millimeter titanium wristwatch that boasts the brand’s patented hand-wound movement (three patents pending). Like its predecessor, the GMT, this highly complex timepiece features a spinning globe that accurately replicates earth’s rotation and provides an intuitive view of time around the world, including night and day indications.

The piece also features the brand’s signature open-worked architecture and Tourbillon 24 Secondes; however, this timepiece is distinguished from other Greubel Forsey watches by an inventive case design, one that appears perfectly spherical from above but reveals an accentuated arched and ovoid shape when viewed from other angles. According to Greubel Forsey co-founder Stephen Forsey, the timepiece was designed with ergonomics in mind; while it may not be suitable for high-impact sporting activities (despite its name), the GMT Sport is water resistant to a depth of 100 meters (about 328 feet).

Only 11 of the GMT Sport are available, each one costing $500,000.

arminstrom.com

greubelforsey.com

At its core, the watchmaking industry is defined by innovation, but all horological accomplishments are not created equal.

The following timepieces shine thanks to a bevy of noteworthy features, and the design and engineering triumphs required to create them.

EMERGENCY RESPONSE BREITLING

CINEMATIC SPECTACLE MB&F

KINETIC PARTNERSHIP HUBLOT

Desirables - Watches

Twenty-five years ago, Breitling launched the When Maximillian Busser, founder of MB&F, Venezuelan artist Carlos Cruz-Diez, who speworld’s first wristwatch equipped with an enlisted revered watchmakers Eric Coudray cialized in kinetic and optical art, first colemergency microtransmitter. In 2013, the and Kari Voutilainen to collaborate on a lim- laborated with Hublot in 2015. According to Swiss watchmaker further enhanced the mod- ited-edition timepiece, he gave them only Hublot CEO Ricardo Guadalupe, the brand’s el and unveiled The Emergency II, the world’s one directive: make “the craziest, most cin- most recent (and final) collaboration with first wristwatch with a built-in dual-frequency ematic three-axis tourbillon ever.” Introduc- Cruz-Diez—completed just before the artist’s distress beacon. Not only is the timepiece an ing MB&F’s Legacy Machine Thunderdome, death in July 2019—is the culmination of nuelectronic, multifunction chronograph, it’s a timepiece that lives up to those open-ended merous developments made between the horalso equipped with a revolutionary recharge- and lofty marching orders. ological house and the artist since that first able battery and miniaturized dual-frequency The Legacy Machine Thunderdome is partnership. transmitter. equipped with three axes that hover above The Hublot Classic Fusion Cruz-Diez, It also features an integrated antenna the dial plate, each one revolving at different which costs between $10,800 and $26,600, feasystem, which complies with the Internation- speeds and on different planes. The innermost tures a two-level dial treated in saturated Panal Cospas-Sarsat Programme, a network of axis spins at a record-breaking 8 seconds, the tone colors. Both the hour hand (on the first low-altitude, earth-orbit satellites and geosta- middle cage rotates at 12 seconds, and the out- level) and the minute hand (on the second level) tionary-orbit satellites that has saved more than er cage completes a revolution in 20 seconds. drive the rotation of a transparent disc printed 26,000 lives since its deployment in 1985. Bre- The visual spectacle is one that the watchmak- with black lines. The system creates a visualitling’s Emergency II features two extendable ing world has never before seen. ly striking watch face, one whose pattern of antenna sections that are manually deployed Only 33 pieces will be produced in plati- colors continuously evolves with each passon each side of the case. One antenna trans- num 950 with light-blue guilloche dials, each ing second. The effect embodies the creative mits signals at 121.5 MHz analog frequency— one commanding $280,000. philosophies of the late artist. “Color is light, receivable in the air, on land, and by sea—while time, and space,” Cruz-Diez once said. “Color the other antenna transmits signals at 406 is not in the past. It is a continuous present.”

MHz, a digital frequency with enhanced secuWhen the watch was unveiled on Decemrity that is received by Cospas-Sarsat satellites. ber 5, 2019, Guadalupe reflected on the sucThe timepiece ranges in price from $15,685 cess of his brand’s partnership with Cruz-Diez. to $19,650, based on color and finish options.

“Together,” he said, “we have created a working piece of art that can be worn on the wrist.” breitling.com CSQ Q1 2020

mbandf.com

hublot.com 31

FOUNDERS SUMMIT & FOUNDERS AWARDS SUMMIT & VISIONARY

AWARDS INVISIONARY INNOVATION & TECHNOLOGY IN INNOVATION & TECHNOLOGY

20 20

VISIONARIES OF THE YEAR

VISIONARIES OF THE YEAR

Javier Ferreira & Walter Driver | Scopely Javier Ferreira & Walter Driver | Scopely

HONOREES AND SPEAKERS CSQ VA HONOREES AND SPEAKERS Lidia Yan | NEXT Trucking

Lidia Yan | NEXT Trucking

Severin Hacker | Duolingo

40 UNDER 40 MOST INNOVATIVE FOUNDERS 40 UNDER 40 MOST INNOVATIVE FOUNDERS

Innovation & Technology | NextGen 2020

Innovation & Technology | NextGen 2020

Severin Hacker | Duolingo

Ryan Hudson | Honey

Ryan Hudson | Honey

Robin Richards | CareerArc

Robin Richards | CareerArc

Chris Hollod | Hollod Holdings

Chris Hollod | Hollod Holdings

Josh Held | Chemistry Holdings

FEBRUARY 26, 2020 FEBRUARY 26, 2020 SCOPELY INC. SCOPELY INC. 35303530 Hayden Avenue A Hayden Avenue A Culver City, California 90232 Culver City, California 90232

Josh Held | Chemistry Holdings

Toni Ko | Bespoke Beauty Brands LLC

Toni Ko | Bespoke Beauty Brands LLC

Carter Reum | M13 Carter Reum | M13

SPONSORS PARTNERS SPONSORS &&PARTNERS

To inquire about sponsorship or access

Toplease inquire aboutus: sponsorship or access contact events@csq.com please contact us: events@csq.com

By Invitation Only

By Invitation Only csqvisionaries.com csqvisionaries.com

34 Visionary Alumni 36 Of Note OP-ED 38 Chris Hollod 40 Charles L. Harrington INNOVATIVE OFFICES 42 Headspace 43 Slack LISTS 44 40 Under 40 Most Innovative Founders 50 NextGen Com­ pany Headlines 51 NextGen Alumni Updates 52 Top Venture Capital Firms in LA VISIONARIES 53 Severin Hacker 54 Josh Held 56 Andy Katz­Mayfield 58 Ryan Hudson 60 Toni Ko 62 Robin Richards VISIONARIES OF THE YEAR 64 Walter Driver and Javier Ferreira, Scopely

The Mirror merges fitness and technology.

Read more about the latest happenings on page 36.

CSQ Q1 2020

Innovation & Technology

Part 2

Innovation - Cover

33

VISIONARIES OF THE YEAR

2018

CSQ ALUMNI COMMUNITY AND UPDATES:

Visionaries in Innovation & Technology

KOBE BRYANT AND JEFF STIBEL Co-founders, Bryant Stibel

34

On January 26, 2020, Kobe Bryant died at age 41 in a helicopter crash while trave­ ling to a youth basketball tournament with his daughter Gianna and seven others.

Recognized as one of the greatest athletes of all time, the five­time NBA champion was a visionary whose legacy extended beyond sports into media, business, and philanthropy. At Bryant Stibel, Bryant invested millions in over 25 companies, including Scopely, Art of Sport, The Players’ Tribune, VIPKid, and House Canary. Bryant is survived by his wife, Vanessa, their three daughters Natalia, Bianka, and Capri, his parents, and two siblings. To continue to support Bryant’s vision of providing basketball training to underserved youth and to support the other families affected by this tragedy, visit MambaSportsFoundation.org and MambaOnThree.org

2019

2019

PAYAL KADAKIA Co-founder and CEO, ClassPass

CHRIS DEWOLFE Co-founder and CEO, Jam City

ClassPass achieved a $1B unicorn valuation, follo­ wing $285M in Series E round funding led

by L Catterton and Apax Digital. The fitness platform intends to fur­ ther its international expansion, particularly in European markets.

Innovation - Alumni 2017

2016

CHRIS DAVIS Co-founder and CEO, Loot Crate

ROB LLOYD Former CEO, Virgin Hyperloop One

2015

2014

2013

PETER DIAMANDIS M.D. Founder and Executive Chairman, XPRIZE Foundation

ERIC GARCETTI Mayor of Los Angeles

SKY DAYTON Founder, Earthlink and Founder, Boingo

INNOVATION & TECHNOLOGY

VISIONARIES

FRANK ADDANTE Chairman and Founder, Rubicon Project

JESSE DRAPER Founder, Halogen Ventures

EILEEN BARTHOLOMEW Principal, Bessemer Alliance

MICHAEL DUBIN Founder and CEO, Dollar Shave Club

BRANDON BECK Co-founder and Co-CEO, Riot Games VIC BELONOGOFF Former CEO, Render Media ADAM BERNHARD Founder, Hautelook MICHAEL BLEND Co-founder and Chairman, System1 AARON BRODER Co-founder and CEO, Evolve Media BRENT BUSHNELL, CEO and ERIC GRADMAN, CTO Two Bit Circus

Two Bit Circus ran the world’s first Micro-Amusement Park in downtown L.A. The company launched its “Park as a Platform” program to showcase game developers and hosted VentureBeat’s GamesBeat Summit. Two Bit Circus Foundation and their imagination.org program received a $1M donation from Vans to celebrate cre ative expression. Two Bit Circus will be announcing new locations in 2020.

SEAN CAFFEY Chairman, Replenish, Inc. CHUCK DAVIS Chairman and CEO, Prodege LLC

Prodege acquired leading consumer rewards site InboxDollars, bringing the total membership base beyond 100M registered members worldwide.

Card Linked Offer partnership programs with both Groupon and Rakuten have also extended the rewards opportunities for members to over 40,000 store locations.

WALTER DELPH Partner and Managing Director, BCG Digital Ventures

CSQ Q1 2020

DR. CHARLES ELACHI Director, JPL GIL ELBAZ Founder and CEO, Factual BRIAN FITZGERALD Co-founder and President, Evolve Media NAJEEB GHAURI Chairman and CEO, NetSol Technologies

NetSol acquired the UK–based VLS Ltd in Flintshire and launched new subsidiary NetSol Europe Ascent in London.

The company signed two major global contracts to implement NetSol Ascent next-generation solutions for Daimler Financial Services. Netsol also celebrated its 20th anniversary on NASDAQ.

DR. GARY MICHELSON Entrepreneur and Inventor ADAM MILLER Co-founder, President, and CEO, Cornerstone OnDemand

EVA HO Founding Partner, Fika Ventures CHRIS HOLLOD Founder and Managing Partner, Hollod Holdings MARK HUMAYUN M.D., PH.D. USC Roski Eye Institute MIKE JONES CEO, Science, Inc. ALEX KAZERANI Co-founder and CEO, OpenPath Security, Inc. JOHN KEIB Former EVP and COO, Time Warner Cable MARC MERRILL Co-founder and Co-CEO, Riot Games

IAN SIEGEL Co-founder and CEO, ZipRecruiter

JASON NAZAR Founder and CEO, Comparably

MARK SUSTER Managing Partner, Upfront Ventures

SCOTT PAINTER Founder and CEO, TrueCar, Inc.

YU-CHONG TAI Professor, CalTech

KELLY PERDEW Co-founder and Managing General Partner, Moonshots Capital T.K. PILLAN Co-founder and Partner, PowerPlant Ventures MARK RAMPOLLA Co-founder and Partner, PowerPlant Ventures

Innovation - Alumni BILL GROSS Founder and Chairman, Idealab

DANA SETTLE Co-founder and Partner, Greycroft Partners

CARTER REUM AND COURTNEY REUM Co-founders, M13 Company

M13 closed its $175M Fund II. Oversubscribed with an original goal of $150M, the new fund is prioritizing seed, Series A, and select later-stage rounds in emerging consumer tech, specifically within health, transportation, food, housing and personal finance.In 2019, M13 invested in Pinata, a SaaS solution for the experiential marketing world, and Dot.LA, which recently announced its launch as a newsroom for the Los Angeles tech scene.

HARRISON TANG Co-founder and CEO, Spokeo CHUCK URSINI Co-founder and CEO, System1 DAVID WAXMAN Managing Partner, TenOneTen Ventures LYNDA WEINMAN Founder, lynda.com DANIEL YOMTOBIAN Founder and CEO,

advertise.com JONATHAN ZWEIG Co-founder and CEO, AppOnBoard, Inc.

ROBIN RICHARDS Chairman and CEO, CareerArc, internships.com JAMES SEGIL Co-founder and President, OpenPath Security Systems Inc.

In 2019, Openpath raised its first institutional funding of $20M, bringing the total funds raised to date at $27M.

35

Innovation - Of Note REST YOUR MIND KEY INTO REST

OF NOTE

Briefings, Updates & Analysis

Relaxation. Serenity. Peace of mind. All three ought be associated with vacation. TurnKey, a vacation rental company, hopes to make the hassle of key turnover a thing of the past through a proprietary technology called GuestWorks. By digitally locking each property, TurnKey hopes

By James Faris

SNACKABLE SHOWS Quick bites. Small stories. That’s how mobile video platform Quibi introduced itself to much of the world in a commercial on Super Bowl Sunday, ahead of its debut on April 6, 2020. The subscription-based streaming service will provide four- to 10-minute episodes of original content from big-name celebrities and influencers like Kendall Jenner, Zac Efron, Kristen Bell, Chrissy

36

INNOVATION & TECHNOLOGY

Teigen, and Stephen Curry, to name a few. Unlike many other new streaming services from Disney+, NBC, and HBO, Quibi aims to compete against TikTok, YouTube, Snapchat, and Instagram by providing younger audiences with bite-sized entertainment on the go. Founder Jeffrey Katzenberg, who served as chairman for Walt Disney Studios from 1984 to 1994, is the mind behind the short-form video platform, which plans to invest $1B in content in its first year. quibi.com

to provide greater security that keeps all except guests (and housekeepers) out. What’s more, each vacation rental is outfitted with both a Ring video doorbell and an in-home tablet that provides information on each house.

TurnKey has locations in 21 states, with its most popular destinations Austin, Texas; Nashville, Tennessee; Park City, Utah; and Lake Tahoe, California. turnkeyvr.com

Innovation - Of Note TO THE MOON

One small step for man, one giant leap for private spaceflight.

This spring, visionary tech mogul Elon Musk’s SpaceX is preparing to launch humans into space. For the first time since the U.S. shuttered the Space Shuttle Program in 2011, NASA is in on the mission. They are partnering with the California-based c o m p a ny to s e n d S p a c eX ’s Crew Dragon ship spacecraft to the International Space Station.

Astronauts Bob Behnken and Doug Hurley will become the first astronauts to fly a private spacecraft. According to the space transportation company’s website, this ship is the only of its kind capable of returning significant amounts of cargo to Earth. Musk’s aerospace company designs and manufactures rockets and spacecraft in hopes of pioneering space exploration and, perhaps in the not-so-distant future, life on other planets.

REFLECTION OF HEALTH Forget tedious gym trips, boring exercise bikes, or dreaded treadmills. Interactive fitness device startup Mirror has the power to show you where you are, where you’ll be, and how to get there—all from a glance. The Mirror is just what it appears to be.

With the flip of a switch and the launch of an app, it becomes so much more: An LCD screen in the sleek, elegant mirror displays an instructor, health data like heart rate and calories burned, and

other users virtually competing with you. The Mirror’s service provides thousands of on-demand cardio, strength, yoga, and boxing workouts through its vast library. According to The Wall Street Journal and The New York Times, the company has raised $75M from investors like Spark Capital (Foursquare, Warby Parker), First Round Capital (Uber, Blue Apron), and Lululemon. The self-described “modern home gym” costs $1,495 with a $39 monthly membership to access classes. mirror.co

spacex.com

CSQ Q1 2020

37

OP-ED

Social Work How Instagram has transformed the way I source new business.

By Chris Hollod

I moved to Los Angeles in October 2009. It was a simpler time, one when people occasionally uploaded new pictures to social media. But Instagram launched the following year and changed everything.

Still, despite managing a consumer-technology investment fund with actor Ashton Kutcher (the fi rst person to reach 1M followers on Twitter), I never once considered joining any of the popular social media platforms.

My hesitation came partly from pride but mostly from ignorance. I had dismissed Instagram as nothing more than an outlet for narcissism. But,

by October 2011, barely more than a year after its launch, Instagram had roughly 10M registered users and could no longer be ignored. Still, I maintained my distance even though the sheer volume of users forced me to question myself. Certainly not all of these people gravitated toward Instagram only for vapid self-promotion.

During Instagram’s meteoric rise, I was working alongside legendary investor Ron Burkle. My job was to handle Ron’s personal venture investments, travel with him (a full-time responsibility in its own right) and run A-Grade Investments. A-Grade was the venture capital fund Ron started with Ashton and top Hollywood talent manager Guy Oseary. Together, we invested in more than 100 startups, including Uber, Airbnb, Pinterest, and Spotify.

As my purview expanded, the experiences, luxuries, and opportunities becoming my norm felt anything but normal. I chronicled my personal and professional journey in hundreds of photos. However, I also placed a premium on privacy and took pride in my discretion. Working alongside people whose lives did not always afford complete privacy, I considered publicly sharing any of my pictures a violation of their

trust. Additionally, I avoided Instagram largely out of concern that the app would prove a professional liability.

I couldn’t have been more wrong.

Fast-forward to today, and I readily admit that Instagram has transformed my career as a venture capitalist, ranging from the way I source investment opportunities to how I perform due diligence on them. Instagram has not only become an integral part of my daily life, but it’s allowed a total restructuring of my career better suited to and more fulfi lling of my personal goals and priorities. What I had once dismissed as a handicap has since proved an invaluable asset.

My true journey with Instagram began in 2017.

(I downloaded the app in 2014, but had only posted a handful of photos and rarely even opened the app.)

At the end of 2017, I left my job in order to simplify my life and focus on my own angel investments. Instead of using the permanent Instagram feed, carefully curating photos to portray an intentionally skewed version of my life, I baby stepped into Instagram with the “story” feature, which disappears after 24 hours.

For me, the story function removed the intimidating permanency of the platform and allowed more playfulness. It felt more spontaneous and sincere, and I actually began to enjoy the creative process.

At a time when nearly every company—from your local car wash to the Wall Street Journal—has an Instagram page, half of the venture capitalist’s work is done for them. It’s a simple and obvious realization, but one that fundamentally shifted my approach to the app. My girlfriend, Bianca, was an early adopter of Instagram, previously worked for a digital agency, and was managing her own account as a model in L.A. with almost 40k followers.

Innovation - Op Ed - Hollod

CHRIS HOLLOD Hollod Holdings Founder and Managing Partner Chris Hollod is an angel investor, venture capitalist, and advisor based in Los Angeles. He is the founder and managing partner of Hollod Holdings, an investment firm focused on consumer brands at the convergence of culture and wellness. He was formerly managing partner of A-Grade Investments, a venture capital fund founded by Ashton Kutcher, Guy Oseary, and Ron Burkle, which invested in more than 100 startups, including Uber, Airbnb, Pinterest, and Spotify.

38

INNOVATION & TECHNOLOGY

INSTAGRAM HAS NOT ONLY BECOME AN INTEGRAL PART OF MY DAILY LIFE, BUT IT’S ALLOWED A TOTAL RESTRUCTURING OF MY CAREER BETTER SUITED TO AND MORE FULFILLING OF MY PERSONAL GOALS AND PRIORITIES. WHAT I HAD ONCE DISMISSED AS A HANDICAP Innovation HAS SINCE PROVED AN INVALUABLE ASSET.

She helped me pinpoint what kinds of accounts were appealing to me so that I could focus my time on the platform following intriguing brands, not celebrities or public figures.

I sought out accounts focused on carefully curated, inspirational, culturally relevant, health and wellness content, and in doing so, I built connections with some of my favorite companies and products. I found myself drawn to brands that were presenting a comprehensive lifestyle as opposed to simply focusing on their products. The content had to be both authentic and aesthetically pleasing, and most importantly, it had to tell a story. The first two accounts that I fell in love with were Recess (a CBD beverage) and JuneShine (a hard kombucha), and I ultimately invested in both companies. I now use these brands as aspirational Instagram templates and regularly reference them during conversations with new entrepreneurs.

My approach also serves as a fairly effective way to track new trends, because I’m able to instantly evaluate a quantifiable reaction by the community, based on metrics such as likes, comments, mutual followers, and reposts, which is an invaluable bonus in the business of investing in highly risky, innovative startups.

I began posting photos of my favorite brands, ranging from food and beverages to alcohol and CBD, simply to share with my friends and followers the companies and products I enjoy. I tried to keep the content simple and authentic, so I used my iPhone for every photo and tried not to overthink things like lighting or layout. By consistently posting and tagging brands, I started to increasingly gain more followers. It soon became a virtuous cycle. In other words, every time I posted one brand, another would reach out wanting to send me samples. I started receiving packages on my front porch almost every single day, some from prelaunch startups and others from more established companies. Given the shortened, informal nature of Instagram conversations coupled with fast shipping options, it became a fun and easy way to sample new products on an almost real-time basis.

One or two story posts per day quickly grew to several. Soon, I began posting photos with founders so my followers could see the types of companies and people I was meeting. In posting more “business content,” I became increasingly comfortable posting personal content, such as photos with Bianca, hikes with my dog, favorite meals and wines, and various trips. As I now invest my own money and take meetings from my house, the business and personal content naturally overlap.

Once I honed my personal voice on Instagram and curated my professional dealings, I developed what I refer to as the “Instagram test.” In fact, it’s the very first step in my diligence process and allows me to glean so much about a brand in less than a minute.

As opposed to flipping through a 20+ slide-investor deck, I scan a company’s Instagram profile and obtain a cursory understanding of aesthetic, branding, messaging, connectivity, and products within just a few seconds.

In addition to streamlining my diligence process, Instagram has become my top deal-sourcing tool. Before Instagram, Ashton and I would fly to San Francisco, attend demo days and conferences, and pack in as many meetings as possible. All the

CSQ Q1 2020

while, I would be chained to my in-box, replying to every potential deal-lead email. Now, without leaving my couch or checking a single email, I flip through a never-ending stream of new startups on my phone by leveraging my discovery page, keyword searches, and people who forward me new profile pages that I do not already follow. When one catches my eye, I send a thoughtful direct message to engage dialogue.

No emails or middlemen required. I am able to go straight to the source.

I have become so comfortable with Instagram, I actually sourced my last three deals on the app.

I arranged my initial meeting with the founders via direct message and eliminated the friction that often accompanies the use of middlemen. After quitting my job in late 2017 to pursue a simplified life and career, no one is more surprised than I am that Instagram has been the vehicle to accomplish this personal goal.

One of the first companies that caught my eye on Instagram was MUD\WTR, a leading coffee alternative. When Bianca messaged me the profile, I was immediately struck by the gorgeous content and impeccable branding/messaging. Again, this entire experience took mere seconds (a truly baffling efficiency when compared to the old way of doing things). Our mutual followers highlighted our connectivity and provided the obvious options for a warm intro, and Los Angeles–based entrepreneur Terry Lee facilitated a meeting between me and MUD\WTR cofounders Shane Heath and Paul. A few days after Bianca sent me the company’s profile, I was in their office to personally invest in MUD\WTR’s seed round at the exact moment the company collected its thousandth subscriber.

As the company continued to grow, while at a catch-up meeting at my house, I tagged Shane and Paul in a story post that also included, “These guys are raising a new round!” My in-box immediately blew up with requests for introductions. Mission accomplished. That one story post allowed for several introductions to reputable investors, one of whom put $500k into the company’s Series A round. My MUD\WTR experience illustrates how Instagram allows an investor to participate in every step of a young venture’s journey. It’s become my own personal case study as I continue to push the limits of my business dealings on the app.

I’ve learned a great deal as I continue integrating social media into my work life. I’m still learning. Not long ago I was an introvert who categorically avoided social media at all costs. Now I’m an introvert utilizing Instagram to provide myself the most personally and professionally fulfilling life I can. I’m still on the other social platforms, like Facebook, Twitter, and LinkedIn, but Instagram has become my “hub” for all activity while the other platforms are simply “spokes” now. I always start with Instagram and then can easily disseminate info through other platforms if I want to amplify my voice. Facebook is for birthdays, Twitter is for news, and LinkedIn is for boring work stuff.

But I think Instagram transcends all use cases and is now the most compelling and comprehensive social media platform by an order of magnitude. Overall, it might have taken me longer than most to find my social media voice, but at least I found the one most aligned with my values. end

- Op Ed - Hollod

39

Innovation - Op Ed - Harrington OP-ED

Why the Future of Driving Needs Smart Infrastructure As driverless vehicles and automated-driving technology become increasingly popular, it’s important that smart technology is considered in a holistic sense.

By Charles L. Harrington 40

INNOVATION & TECHNOLOGY

WHILE PILOTS AND TESTS HAVE GIVEN CITIES BETTER INSIGHTS INTO THE TECHNOLOGY, QUESTIONS REMAIN ABOUT HOW DRIVERLESS VEHICLES WILL DELIVER THE IMPROVED SAFETY AND INCREASED EFFICIENCY THAT HAS BEEN PROMISED.

The automotive industry is changing quickly, and intersections, and anticipate human-driver actions.

Th is will be particularly important in the near car manufacturers anticipate the road ahead will likely lead toward an increase in driverless vehicles. term, when driverless vehicles will constitute a lower Over 40 corporations are working on automated percentage of total vehicles on the road, minimizing technology, with major manufacturers including the benefit of being able to share information with Tesla, Toyota, BMW, Nissan, Ford, Audi, and GM other driverless vehicles.

So how will the streets help driverless cars? all announcing that they’ll have driverless vehicles developed within a few years. Still, it’s hard for many “Smart city” infrastructure will transform streets people to imagine how driverless, or autonomous, and intersections into data-sharing hubs for drivervehicles will move safely and efficiently through our less vehicles to get a better vision of the conditions around them. Sensors embedded in streets and city streets.

As chairman and CEO of Parsons Corporation, mounted on streetlight poles will provide detailed I’m constantly thinking about how technology can traffic conditions throughout the city. Intelligent positively impact infrastructure and our national intersections will communicate with approaching defense and security, and how in turn it impacts driverless vehicles to identify optimal combinations people. As I commute home from the office, I am of speed, fuel consumption, and routing. Vehicles struck by the divergence between the state-of-the- and infrastructure will continuously communicate art technology in my car and home, and a road that’s to optimize the operations of signals, streetlights, been largely the same since President Dwight Eisen- and other city resources around them.

Although cities already face the issue of too hower created the interstate highway system.

It’s logical to expect that the same roads and many deserving causes and not enough money, one traffic signals that were cutting-edge when we man- great aspect about smart city technology is that it’s ually rolled down our windows with a crank will not a good fi nancial decision that pays dividends down be adequate to manage traffic in a connected future. the road, literally. Cities will be able to automate We also do not have the luxury of time to conduct complex traffic-management tasks, allowing ema series of analyses to figure this out. Cities around ployees to use their time to work on higher-priority the world have already started testing driverless ve- concerns. Citizens will save time commuting to hicles. Austin and Las Vegas are piloting low-speed work, leaving them more refreshed and productive automated shuttles to support local circulation in at the office and with more quality time with loved pedestrian-heavy areas, while places like Phoenix ones. Productivity will increase, and more imporand Pittsburgh are allowing automated taxis to test tantly, so will quality of life. That will attract more businesses and people to live and work in smart their technology and business on public streets.

While these pilots and tests have given cities cities, boosting the local economy and making the better insights into the technology, questions re- infrastructure-investment worthwhile.

You can’t pack more than 24 hours in a day—but main about how driverless vehicles will deliver the improved safety and increased efficiency that has smart-city infrastructure allows people to fi nd exbeen promised. The time to act is now. How will tra time in their busy schedules. Cities have started driverless vehicles interact with non-self-driving to understand these needs and are advancing smart vehicles, pets, pedestrians, cyclists, scooters, and infrastructure to support driverless vehicles. Denver, distracted drivers? Will driverless vehicles operate Detroit, and New York City are a few of many smart safely in the rain and snow? How will driverless ve- cities that are installing communication devices for connected and automated vehicles. hicles make my commute faster and safer?

While cars are getting smarter and more auAnswers to questions like these aren’t so much about the vehicles as about the streets they will drive tomated, the key to unlocking a driverless-vehicle on and their associated signals, speed limits, and future lies in smart streets and smart cities. And other infrastructure. While driverless vehicles will while the automotive industry continues to advance have dozens of sensors, radars, and cameras that the vehicle technology, our cities and communities will provide a vast amount of data about objects and must continue to advance smart infrastructure. activities directly around them, they’ll need more Driverless vehicles will not only be driven by the information from farther away to anticipate traffic technology inside them, but by the infrastructure conditions throughout city streets, avoid conflicts at around them. end

Innovation - Op Ed - Harrington

CHARLES L. HARRINGTON Parsons Corporation Chairman and Chief Executive Officer Charles Harrington is chairman, CEO, and president of Parsons Corpora­ tion, a digitally enabled solutions provider in the defense, intelligence, and critical infrastructure markets.

A native Californian, he joined the company in 1982 as an engineer working on classified projects for the US Departments of Energy and Defense and has since turned Par­ sons into a public company valued at more than $3.6B.

CSQ Q1 2020

41

For both its users and employees, health and happiness are paramount at Headspace, the wildly popular meditation app. Their new headquarters in Santa Monica’s tech district, alongside major players like Goop and Oracle, provide a work environment that is calm, fun, and also mindful.

Interior designer Kelly Robinson faced the challenge of designing a space for the startup that would allow them to grow and attract top talent, while creating a peaceful environment that is on brand.

INNOVATIVE OFFICE

Los Angeles

Headspace

By Samantha Block

Industry Tech: meditation app Location Santa Monica Scope 16,000 square feet Architect Wolcott Architecture Interior Design Kelly Robinson Floors 1 Notable Features • The “silent room” is a techfree zone allowing employees to disconnect from the world.

• The open, collaborative kitchen is where most gatherings occur. It was designed to encourage spontaneous conversations.

• Behind Headspace’s main entrance is “The Lookout,” a mix of a cafe and auditorium used for a broad range of activities.

1. This space is used for celebration and quiet reflection.

1

2

Innovation - Office LA

2. The kitchen was designed to be a place where people can come listen to music, talk, and have gatherings.

3

4

5

6

7

8

3. Twice daily, all employees come together, sit, and take 10.

4. The design of the office was inspired by words such as “curious, healthy, and happy,” 5. With multiple seating arrangements to encourage dialogue and engaging with others, the boardroom stands in polar contrast to the typical single-table model.

6. These Meditation pods were designed by Dwayne Oyler and Jenny Wu. They are placed in the center of where the majority of employees are working and can be utilized for spontaneous meditation.

7. The office also has Railway Carriages, a product

by Spacestor London.

8. Robinson needed to design an office that was minimal but also colorful with illusion artwork.

42

INNOVATION & TECHNOLOGY

The city’s urban courtyards inspired the design for Slack’s New York City headquarters, located on the top floor of a six-story building from the 1870s. With bamboo plants acting as natural privacy screens and skylights flooding natural light throughout the 12,000-square-foot space, the offices for this messaging app are meant to integrate as much of the surrounding outdoor environment as possible. Despite the welcoming décor, employees are encouraged to leave for coffee and lunch breaks. After all, the internal company motto is “work hard and go home.” By Samantha Block

INNOVATIVE OFFICE

New York

Slack Industry Tech: Intra-office messaging Location NoHo/East Village Scope 12,000 square feet Architect Edward H. Kendall (1870-1871) Interior Design Snøhetta Floors 1 Notable Features • Snøhetta creatively brought in hints of color on the glass door to represent Slack’s brand identity, as well as custom light fixtures. Wooden bleachers provide a shared work environment and meeting space.

• Existing skylights were enlarged.

• To maximize its space, breakout rooms allow for a diversity of working environments, including telephone booths for private calls.

1

2

Innovation - Office NY 4

1. The open office layout ensures quick communication.

2. The transparent glass in the conference room provides visual connection but acoustic separation.

3. Plants are scattered all around the office, to help bring the outdoors in.

4. Slack aims to cultivate company culture; fittingly, indoor courtyards nurture social interactions and allow for ideas to grow.

3

5

6

7

5. The majority of the furniture in the office is custom made by Gala Architectural Woodworking.

6. The office cafe doubles as a great setting to collaborate.

7. Private spaces for quiet are also available.

CSQ Q1 2020

43

[ 2020 ]

40 UNDER 40 MOST INNOVATIVE NEXTGEN FOUNDERS

TED BAILEY

Innovation - NG40 FOUNDER, CHAIRMAN, AND CEO, DATAMINR

CSQ presents its second-annual “40 under 40” of the most innovative NextGen founders and CEOs in Los Angeles and New York. Forward thinking, breaking the mold, and driven to succeed, this list of talent is disrupting industries from cannabis and private clubs to aerospace and fitness. Each of these leaders was selected through an editorial process that included a call for nominations, market research, and CSQ community outreach. Using a system to grade innovations within industry, current market connectivity, future business potential, and previous entrepreneurial wins, a selection committee of visionary entrepreneurs and experts helped make our final selections. By Sheean Hanlan 44

NEXTGEN 40

Age 38 Industry Software Location N.Y. Funds Raised $577M Business Mission The leading real-time AI platform for event and risk detection.

Relied on by hundreds of private and public sector organizations—with a global user base spanning more than 75 countries—Dataminr delivers the earliest alerts on high-impact events and emerging risks so that clients can know critical information first, respond with confidence, and manage crises more effectively.

ADAM BIERMAN

CO-FOUNDER AND CEO, MEDMEN Age 38 Industry Cannabis Location L.A. Funds Raised $363M Business Mission To define the next-generation discovery platform for cannabis and all its benefits.

ANTHONY CASALENA FOUNDER AND CEO, SQUARESPACE Age 37 Industry Web Design Location N.Y. Funds Raised $278.5M Business Mission Empowers people and brands to cultivate sophisticated online presences with an all-in-one, user-friendly web design platform that hosts websites, online stores, and portfolios.

TOM CORTESE CO-FOUNDER AND COO, PELOTON Age 39 Industry Fitness Location N.Y. Funds Raised $994.7M

CSQ Q1 2020

Business Mission To bring the look and feel of a fitness club to the home through community-powered technology, and to offer flexible access to livestream fitness classes for busy families. The Peloton treadmill, bike, and app offer more than 90 cardio workouts of varying intensity with training programs ranging from 5 to 90 minutes.

TIM ELLIS CO-FOUNDER AND CEO, RELATIVITY SPACE Age 29 Industry Aerospace Location L.A. Funds Raised $185.7M Business Mission To revolutionize aerospace travel by manufacturing rockets with 3D printing technology.

Relativity Space believes that by innovating a new automated system of building rockets, humanity will be able to engage in interplanetary experiences.

ANDA GANSCA CO-FOUNDER AND CEO, KNOTCH Age 31 Industry Marketing Location N.Y. Funds Raised $34M Business Mission The independent content intelligence platform helps marketers to track and measure the effectiveness of their digital content in real time. Through cross-platform comparisons, Knotch enables CMOs and their teams to improve their content-marketing strategy by providing data signals on the content types, themes, and distribution channels that are receiving the best response.

AUDREY GELMAN

Innovation - NG40 JOSEPH FURNARI CO-FOUNDER AND CEO, COMPANY HYRECAR Age 38 Industry Carsharing Location L.A. Funds Raised $5M Business Mission HyreCar paves the way for financial freedom by allowing anyone to rent their car to Uber and Lyft drivers for daily, weekly, or monthly rentals. The peer-to-peer marketplace easily lets part-time drivers enter and leave the rideshare industry at any time.

CO-FOUNDER AND CEO, THE WING

Age 32 Industry Coworking Location N.Y. Funds Raised $117.5M Business Mission With locations currently in Los Angeles, New York and Washington, D.C., The Wing creates coworking spaces for women to work and connect with each other in a supportive and professional environment.

GEORGINA GOOLEY

CO-FOUNDER AND CO-CEO, BILLIE, INC Age 33 Industry Retail Location N.Y. Funds Raised $35M Business Mission Billie provides women with quality shaving supplies and premium body-care products designed to make a daily routine a little more delightful—and a lot more affordable.

NICHOLAS R. GREEN CO-FOUNDER AND CEO, THRIVE MARKET Age 35 Industry Retail Location L.A. Funds Raised $161.9M Business Mission An online marketplace with a mission to make healthy foods, vitamins, beauty products, and home goods affordable and accessible to everyone. The shopping club has over 2,500 high-quality products which can be delivered directly to consumers’ doors.

JACK GROETZINGER CO-FOUNDER AND CEO, SEATGEEK Age 35 Industry Entertainment Location N.Y. Funds Raised $160M Business Mission A ticket search engine that lets users discover ticket listings for upcoming sports and entertainment events, finding the best deals and generating recommendations based on user preferences.

45

MATTHEW HAAG FOUNDER AND CEO, 100 THIEVES Age 27 Industry eSports Location L.A. Funds Raised $60M Business Mission A lifestyle brand and gaming organization targeted to the eSport athletic community.

in order to scale and personalize language-learning.

More than 300M people learn languages on Duolingo.

Duolingo’s mission is to make language education free and accessible to all.

JOSH HELD

OISIN HANRAHAN

SEVERIN HACKER

women feel confident and empowered every single day through the concept of renting rather than purchasing designer clothing and accessories.

Seventy percent of its 1,200 employees are women, and 71 percent are members of a minority group.

CHARLIE JAVICE FOUNDER AND CEO, CHEMISTRY HOLDINGS

CO-FOUNDER AND CEO, HANDY

Age 34 Industry Biotechnology Location L.A. Total Recent Exits $115M and $160M Business Mission An intellectual property holding company and manufacturer of innovative drug delivery systems.

FOUNDER AND CEO, FRANK

Innovation - NG40

CO-FOUNDER AND CTO, DUOLINGO Age 36 Industry Education Location N.Y. Funds Raised $138.5M Business Mission The most popular language-learning platform worldwide, with over 300M total learners.

Duolingo’s mission is to make education free and accessible to everyone, offering 94 total courses across 38 distinct languages, from the world’s most-spoken languages to endangered languages like Hawaiian, Navajo and Scottish Gaelic. Hacker is in charge of the technology that powers Duolingo’s mission to provide free access to education.

He is the internal champion of innovation, ensuring that Duolingo leverages the latest advances in machine learning and artificial intelligence

46

NEXTGEN 40

Age 36 Industry Cleaning services Location N.Y. Funds Raised $110.7M Business Mission An ondemand platform and gig marketplace connecting people in need of household services with independent, pre-screened professionals in fixed-price gig categories such as home cleaning, product installation, furniture assembly and handyman services. Founded in 2012, Handy was created based on the belief that the way consumers buy household services is broken, and that there has to be a better experience for both consumers and pros.

For professionals, the Handy platform makes it possible to maintain a flexible schedule with meaningful income opportunities. Handy is trusted by the world’s top retail brands and is available nationwide.

RYAN HUDSON CO-FOUNDER, HONEY

Age 39 Industry E-Commerce Location L.A. Funds Raised $31.8M Business Mission A browser extension that saves consumers time and money, Honey automatically finds the best coupons and deals for its 10M users worldwide.

Age 27 Industry Education Location N.Y. Funds Raised $15.7M Business Mission The leading platform connecting students to financial aid at colleges and programs they will love: FRANK’s mission is to make affordable education available to all. In just over two years, the company has helped more than 350,000 students receive $7B in financial aid, for free.

SAMY KAMKAR

JENNIFER HYMAN CO-FOUNDER AND CEO, RENT THE RUNWAY Age 39 Industry eCommerce Location N.Y. Funds Raised $541.2M Business Mission Rent the Runway’s goal is to make

CO-FOUNDER AND CHIEF SECURITY OFFICER, OPENPATH

Age 34 Industry Security Location L.A. Funds Raised $27M Business Mission By combining sleek hardware with cloud-based enterprise software, Openpath enables mobile, hands-free entry using a smartphone that never has to leave your pocket—making system management easier than ever. With strong encryption, modern technology, and a thoughtful, end-to-end user experience, Openpath is the first and only solution to achieve greater than 90 percent mobile adoption without worrying about cards or opening apps.

ANDY KATZMAYFIELD

PHILIP KRIM CO-FOUNDER AND CEO, CASPER Age 36 Industry eCommerce Location N.Y. Funds Raised $339.7M Business Mission Casper sells comfortable mattresses directly to consumers, to create the best sleep experience for people and even dogs.

Age 29 Industry Accounting Location L.A. Est. Enterprise Value $100M+ Business Mission inDinero is modernizing the way business accounting is done with software that helps users track and manage their finances.

SCOTT MARLETTE

BEN LERER FOUNDER AND CEO, GROUP NINE MEDIA Age 39 Industry Digital Media Location N.Y. Funds Raised $190M Business Mission A digital media company consisting of four distinct brands: Thrillist, a cityby-city guide to restaurants, travel, and nightlife; NowThis, a social media-focused news outlet targeting young adults; The Dodo, a mobile media brand for all things animals; and Seeker, a video forward digital platform for the curious and technology-savvy.

Age 37 Industry eCommerce Location N.Y. Funds Raised $375.2M Business Mission Before Harry’s, buying shaving supplies was a really bad customer experience; most razors were hard to access at the drugstore, and the products themselves were overpriced and over-designed. Harry’s saw an opportunity to build a more relatable, more customer-focused experience by rethinking daily grooming experiences for men with its thoughtfully made body, hair, and skincare products.

CSQ Q1 2020

JESSICA MAH

CO-FOUNDER AND CEO, INDINERO

CO-FOUNDER AND CHIEF DOG OFFICER, WAG Age 36 Industry Pet Care Location L.A. Funds Raised $361.5M Business Mission Wag is an on-demand dog walking app that provides pet owners with greater flexibility by connecting them with certified and trustworthy dog walkers.

Dog parents can follow along the walk using real-time GPS tracking.

KRYSTLE MOBAYENI CO-FOUNDER, GOODRX

Innovation - NG40 CO-FOUNDER AND CO-CEO, HARRY’S

JASON MELTZER

Age 36 Industry Health Location L.A. Funds Raised $1.5M Business Mission A marketplace for affordable and convenient healthcare solutions. Its first offering—the GoodRx site and app—delivers transparent information on prescription drug prices directly to consumers. To date, GoodRx has helped more than 10M Americans save more than $15M on prescription drug costs. As of this past year, GoodRx also offers GoodRx Care, a telemedicine service that offers easy treatment, prescriptions and lab tests for routine medical issues. Thus far, the company has saved customers $15B on prescriptions. At GoodRx, he oversaw early technical development of the product and later lead strategic marketing initiatives. After GoodRx, he has remained an active angel investor in Los Angeles with successful exits in companies such as Snapchat and Ring.

CO-FOUNDER AND CEO, BENTOBOX Age 37 Industry Food Location N.Y. Funds Raised $23.6M Business Mission BentoBox empowers restaurants to succeed with a mobile operations platform that allows managers to design websites, update menus, promote events, track revenue, and analyze traffic.

PARKER MORSE

FOUNDER AND CEO, H CODE

47

Age 36 Industry Digital Media Location L.A. Funds Raised $4M Business Mission H Code better connects brands and advertisers with American Hispanics across all channels.

The company reaches this coveted audience at scale through digital and integrated campaigns that bring together targetable data, exclusive inventory, impactful creative, branded content, and more.

Their own team is 75 percent Hispanic and understands the importance of their mission.

In less than five years, they have achieved enough growth to become the largest Hispanic digital media company in the U.S. Key clients include Disney Theatrical, Toyota, General Mills, Target, Walmart, Delta Air Lines, Chase, Kaiser Permanente, Clorox, Sprint, and USPS.

DELANE PARNELL

CARTER REUM

JENNIFER RUBIO CO-FOUNDER, M13

CO-FOUNDER AND CBO, AWAY

Age 38 Industry Venture Capital Location L.A. Funds Raised $175M Business Mission M13 is a fullservice venture engine with offices in Los Angeles, New York, and San Francisco.

M13 executes a “founders first” focus to build and scale leading consumer technology companies. The company provides the right people, platform, and partnerships for founding teams to make better decisions and win in their category.

Age 32 Industry eCommerce Location N.Y. Funds Raised $181M Business Mission Initially formed with the vision of creating the perfect suitcase, Away has evolved into a lifestyle brand offering a range of modern travel products designed with minimalism and functionality in mind.

FOUNDER AND CEO, PLAYVS

48

NEXTGEN 40

Age 37 Industry Finance Location L.A. Est Annual Revenue $75M Funds Raised $204.4M Business Mission Tala is a mobile data-science company that provides financial services such as instant credit scoring and personalized loans to people who have never had a formal credit history.

VANESSA STOFENMACHER

Innovation - NG40

EVAN RICHTER

Age 27 Industry eSports Location L.A. Funds Raised $96M Business Mission What started as just Parnell in an office is now over 40 talented people working to realize the company’s vision, now a venturebacked software startup building competitive experiences on top of eSports.

Age 34 Industry Venture Capital Location L.A. Funds Raised $330M+ Business Mission Later-stage consumer internet and software venture capital. Accelerating tech company growth through media strategy and execution. The company co-led Epic Games’ $1.25B raise—the largest venture investment in 2018.

CO-FOUNDER AND PARTNER, SMASH VENTURES

DANIEL RUCH FOUNDER AND CEO, ROCKETRIP Age 38 Industry Travel Location N.Y. Funds Raised $32.2M Business Mission Founded in 2013, Rocketrip is changing the way businesses travel. Employees receive a budget for work trips and are rewarded with compensation bonuses and other perks when they spend less on booking transportation and accommodations.

SHIVANI SIROYA FOUNDER AND CEO, TALA

FOUNDER AND CREATIVE DIRECTOR, VRAI

Age 32 Industry eCommerce Location L.A. Funds Raised Not Applicable Business Mission Vrai is here to bring new meaning to fine jewelry—rethinking the industry from the ground up.

The company believes every decision should be made with intention, from its design to materials to operations, so the consumer can feel good about the jewelry that becomes a part of them. Through quality, transparency, and inclusivity, they’re on a mission to democratize fine jewelry.

Stofenmacher participates in all aspects of business development including finance, operations, marketing and product as well as directly leading brand creation including jewelry, website, packaging, voice, graphic design,

and art direction. The company was acquired by the Silicon Valley Solar Tech Company, Diamond Foundry, which has been a great achievement.

DAINA TROUT

Age 35 Industry Data Intelligence Location N.Y. Funds Raised $234M Business Mission Collibra connects the right data, insights, and algorithms for all data citizens. Collibra believes that when data citizens have access to the data they need, businesses can be empowered to innovate and collaborate.

BRENDAN WALLACE

JASON WILK CO-FOUNDER AND CEO, DAVE Age 34 Industry FinTech Location L.A. Funds Raised $183M Business Mission Dave is an online banking platform and mobile application minus the high interest and overdraft fees that other banks possess. Dave hopes to improve people’s financial situations by providing a more human approach to banking.

RYAN WILLIAMS CO-FOUNDER AND CEO, HEALTH-ADE

Innovation - NG40

Age 38 Industry Food and Beverage Location L.A. Est Annual Revenue $105M Funds Raised $60M Business Mission Health-Ade makes the best-tasting bubbly feel-good beverages you can buy, so you can follow your gut and show the world what you’re made of. The brand was created with $600 in a farmers’ market and a whole lot of grit. Trout cites getting the brand to more than 30,000 stores in less than eight years as her greatest achievement.

More recently, securing $20M in investment from the largest beverage company and arguably best brand in the world, Coca-Cola, was a very important milestone as well.

FELIX VAN DE MAELE CO-FOUNDER AND CEO, COLLIBRA

CSQ Q1 2020

CO-FOUNDER AND MANAGING DIRECTOR , FIFTH WALL Age 38 Industry Venture Capital Location L.A Funds Raised $1B Business Mission Founded in 2016, Fifth Wall is the largest venture capital fund in Los Angeles. Fifth Wall has raised $1B from 52 of the world’s largest owners and developers of real estate, including firms like Marriott, Hines, British Land, Related, Prologis, Lennar, and others.

Fifth Wall actively invests in technologies for the global real-estate industry such as Opendoor, Industrious, VTS, Hippo, and Clutter.

LIDIA YAN

CO-FOUNDER AND CEO, CADRE Age 31 Industry Real Estate Technology Location N.Y. Funds Raised $133M Business Mission Cadre provides qualified individuals and institutions access to fully vetted commercial real-estate opportunities. The company has also built the industry’s first secondary market for commercial real estate, enabling investors to achieve liquidity. Cadre combines its institutional experience with differentiated technology to empower investors through direct access, lower fees, and greater transparency.

Cadre eclipsed $3B in assets acquired, and three properties sold on platform.

CO-FOUNDER AND CEO, NEXT TRUCKING Age 38 Industry Freight service Location L.A. Funds Raised $125M Business Mission NEXT Trucking created the first truckercentric marketplace, connecting small fleets and owner operators with freight from major shippers. They empower more than 16,000 professional, vetted drivers to drive where, when and how they wish.

NEXT’s smart routing technology matches driver preferences with location information, limiting the time that trucks drive empty and enabling drivers to make more than $1,000 per day.

NEXT trucking is trusted by six out of the ten largest shippers in America. Yan oversees the company’s vision and growth strategies. In some cases, this means speaking at conferences or pitching VCs. In others, it means spending time in operations meetings understanding the nuances that go into the shipping business and providing guidance. NEXT is changing the lives of the people who work diligently to deliver the goods they consume every day. They want to bring the NEXT solution to every port across the US. Starting in Los Angeles, they are doing just that: decongesting the port, giving drivers a more balanced life, and helping terminals to be more efficient to ultimately create a better first mile experience.

49

40 UNDER 40 COMPANY HEADLINES

100 Thieves Announced three new designs for the 2020 Jersey Program.

Bentobox Raised $16.4M in Series B funding.

Billie Inc. P&G is acquiring Billie, a company that supports women’s shaving and beauty needs.

Cadre Recently sold Avida Apartments in Salt Lake City, Utah.

Casper The mattress company filed to go public with a current valuation of nearly $1B. Chemistry Holdings Recently disclosed that it will be opening its first cannabiscultivation facility in the Pacific Northwest.

Clutter The tech-enabled storage company announced acquisition of The Storage Fox portfolio for $152M.

members exclusive access to medication discounts.

Group Nine Media Launched Sparkle Ads, which will feature mini apps toattract mobile shoppers.

H Code Media Launched the Intelligence Center to increase brand access among Hispanic audiences.

Handy The home-cleaning company is expanding to include renovations and installations.

Harry’s Recently purchased by Edgewell Personal Care for $1.37B. Health-Ade Kombucha Received a $20M equity investment from Coca-Cola.

Peloton Opened its first showroom, in San Diego, Calif.

PlayVS The high school esports platform has formed a collaboration with Nerd Street Gamers.

Relativity Space The aerospace launch-vehicle company raised $140M. Rent the Runway Opened an 8,300-square-foot West Coast flagship in San Francisco.

Smash Ventures Has raised over $330M. Squarespace Will expand its global headquarters in New York City, creating over 150 new tech jobs.

Honey The shopping-reward site was acquired by PayPal for $4B.

Tala The microloan company has raised nearly $220M from private investors.

HyreCar The carsharing marketplace saw third-quarter revenues of $3.7M.

Thrive Market The grocery-delivery service offers nearly 50 percent off retail prices for members.

InDinero Purchased tempCFO to create an outsourced seed-to-exit financial solution for highgrowth startups.

Vrai Launched Partnerrings, a new series of customizable engagement rings.

Innovation - NG40 - headlines Collibra The data intelligence company opened a new operations center in Atlanta, which will create more than 200 jobs.

Dataminr Opened its ANZ headquarters and operations center in Melbourne.

Dave The personal finance app launched Dave Banking.

Duolingo Has been downloaded by over 300 million people, and is now worth more than $700M. Fifth Wall Ventures The firm, which focuses on real estate technology, raised $503M for its second fund.

GoodRx Announced a new partnership with AAA to offer its 59M

50

NEXTGEN 40

Knotch Raised $20M in additional funding.

MedMen Aims to raise $74M through the sale of licenses in noncore states and a class B stock offering.

NEXT Trucking Agreed to lease 18 acres near Port of Long Beach for a drayage facility.

Openpath Introduced Lockdown Solution, an enhanced mobile security system for emergencies.

Wag Exploring a potential sale to Petco.

The Wing The women-only club invited Cory Booker to be its first male guest speaker.

Zola Has raised $140M and is expanding from wedding planning to after the wedding.

NEXTGEN ALUMNI UPDATES

TOM ALEXANDER

STEVE GATENA

offices at its New York, Flatiron location, and partnered with Frieze to inaugurate the art fair’s premier L.A. edition.

ERIK HUBERMAN

FOUNDER AND CEO, PK4 MEDIA PK4 Media won Digiday’s award for Best Video Advertising Technology in 2018. Alexander also won the Entrepreneur 360 Award and started a new Angel fund called SkyArc Ventures.

CEO, PRAY.COM In 2019, Pray.com launched its subscription content business, growing past 100,000 subscribers in 90 days over Q4. It raised more than $1M for registered 501(c)3 non-profits.

In January, 2020, Pray.com established an international partnership, giving its content platform access to more than 100M people in Africa. Recently, Pray.com peaked at No. 3 in Apple’s App Store. Gatena has been invited back to the Vatican for the Humanity 2.0 event, where he first spoke in 2018.

FOUNDER AND CEO, HAWKE MEDIA Hawke Media has expanded to Boston after acquiring its fourth company, Trident Digital Partners.

RACHEL BULLOCK JAKE MILLAR Innovation - NG40 - alumni

JON GOSS FOUNDER AND CEO, UNFILTERED

SVP OPERATIONS, PATRON TECHNOLOGY Rachel was promoted to Senior Vice President, Global Operations of Patron Technology. Patron’s clients include Nickelodeon, Disney, NFL, MLB, US Open, NY Comic Con, Museum of Ice Cream, Sephora, and Coachella.

She leads an international team of 110 employees across eight time zones.

CSQ Q1 2020

CHIEF BRAND OFFICER, NEUEHOUSE NeueHouse, which was invited on the Fast Company Impact Council, announced the opening of NeueHouse Bradbury in Downtown L.A. on January 20, 2020. The company also opened a new floor of private

Unfiltered released exclusive interviews with United States General Stanley A. McChrystal and Los Angeles–based real estate billionaire Rick Caruso, who spoke highly of Millar.

Unfiltered’s confirmed signups for 2020 include Singapore–based video creation platform 90 Seconds, AUT, MYOB, and KPMG Asia. Future interviews include Ariana Huffington and Peter Thiel.

51

TOP VC FIRMS IN LA

Having Fund A look at the top Venture Capital firms in SoCal.

By Benjamin Kuo socaltech.com

As Southern California continues to thrive as one of the world’s fastest–growing startup ecosystems, the market has become home to a huge number of startups as well as the venture capital investment funds that help back those startup efforts. Here, top firms that announced large funds in 2019, and some of the venture capital funds working on their next fund.

FIFTH WALL VENTURES II Size: $503M (Fund II) Managing Partners: Brendan Wallac e, B rad G reiwe, and Andriy Mykhaylovskyy Investment Interests: Companies related to real estate

3L CAPITAL

PELION VENTURE PARTNERS

Size: $217M (First Fund) Managing Director: Shawn Colo Investment Interests: Consumer and enterprise businesses that are using software, technology, and data across a variety of industries

Managing Director, Southern California: Jeff Kearl

Los Angeles– and New York– based 3L Capital, a new venture capital investment fund, launched in July. The startup investor has already been busy making investments in Los Angeles–area startups and already has investments ChowNow, TYT, SnackNation, and Wheels, along with TheRealReal, 101 Commerce, and others.

Other New Funds

In addition to big fundraising, a number of additional venture capital firms announced new funds or offices in Los Angeles last year: WAVEMAKER THREE–SIXTY HEALTH Managing Directors: J o h n Nackel, Jay Goss, Eric Marton and Kwame Ulmer

Based in Salt Lake City, Utah, the firm announced they are expanding efforts into Southern California. Pelion has made investments in such companies as Domo, Redhat, Riverbed, MX Logic, and others. Kearl sits on the boards of Domo and Scopely, among other companies. Pelion’s latest investments include rounds for MX, Divvy, Astound, and Cloudflare.

Firms raising new funds UPFRONT VENTURES Fund: Upfront Growth III Target Size: $250M Managing Directors: Mark Suster, Yves Sisteron Upfront has not detailed any information about the fund, as is usual for venture investors in the midst of fundraising. Their most recent fundraising was Upfront VI, worth $400M, which it closed in June, 2017, and is arguably one of the larger and most visible funds based out of Los Angeles.

to non–correlated, high–quality debt opportunities.

CORE INNOVATION CAPITAL Fund Target: $100M Managing Directors: Arjan Schutte, Kathleen Utecht Investment Profile: Fintech investments Los Angeles–based fintech venture capital investor Core Innovation Capital is out looking for new investors in its third fund, with a target of $100M, according to regulatory filing by the firm in early 2019. The fund counts such portfolio companies as Fair, Honest Dollar (acquired), CoverHound, Mirador (acquired), Nerdwallet, Ripple, Tio (acquired), and many others.

Core Innovation’s latest investments include banking API developer SynapseFi, a funding for cryptocurrency software developer Decent, and an investment in micro–savings startup Blast.

SCIENCE INC. Managing Directors: Michael Jones, Peter Pham, Gregory Gilman, and Tom Dare

Innovation - Top VCs

The fund started in June, 2018.

Its LPs include a large number of real estate owners, operators, and developers. Fifth Wall’s investments have included such companies as Clutter, Lime, Opendoor, Classpass, Loggi, and many others.

MARCH CAPITAL PARTNERS II

Size: $300M (Fund II) Founding Partners: Jim Armstrong, Jamie Montgomer y, Gregory Milken, and Sumant Mandal Additional Partners: Meredith Finn and Jed Leidheiser Investment Interests: AI in the enterprise, industrial IoT and infrastructure, next–gen consumer technologies, and growth in India, plus in eSports and gaming Santa Monica–based venture investor March Capital Partners said in January that it has raised a second fund, worth $300M. According to March, its new Fund II includes both existing and new investors. The fund is larger than the firm’s first fund, which was worth $240M.

52

INNOVATION & TECHNOLOGY

Pasadena–based Wavemaker Three–Sixty Health, the seed– stage healthcare investment fund, says it had the sixth and final close on its fund on December 31, 2019. The firm now has more than 80 Limited Partners in the fund, with the majority being senior level healthcare executives across the US healthcare system. So far, the firm has invested in 29 companies, with about 40 percent of its investment in Southern California companies.

THIN LINE CAPITAL Managing Director: Aaron Fyke

Pas adena –base d Thin Line Capital announced in October that it has launched a brand new energy–and–sustainability fund, which will be focused on cleantech investing. Fyke was previously CEO of multiple companies for Idealab, and cleantech investor at Starfish Ventures in Australia. According to Fyke, Thin Line Capital is looking to capitalize on the “second wave” of cleantech investing, taking advantage of much of the progress in clean tech investments which—unlike the first wave—are a better fit for venture capital investors.

KAIROS VENTURES

Currently fundraising: $100M Investment Area: Commercialization and scientific advances The Beverly Hills–based venture capital investment firm, which focuses on commercialization of scientific advances, disclosed raising the first $24.6M in the first close of a new fund, Kairos Venture Opportunities I, L.P., according to a regulatory filing from the firm. The fund is targeted at an overall capitalization of $100M, per those regulatory documents.

WAVE FINANCIAL GROUP Managing Director: David Siemer Los Angeles–based Wave Financial Group, a new, Blockchain investment company led by former Wavemaker Partners co–founder David Siemer, received a round of funding from London–based Finequia Investments Limited earlier in the year, according to the two companies. Wave Financial said the link with Fineqia will give it access

In April, Santa Monica–based star tup studio Science Inc. founded by Michael Jones, Peter Pham, Gregory Gilman, and Tom Dare, filed paperwork for a new fund, of undetermined size. The startup studio, which both incubates its own companies as well as working with startup founders to help accelerate their efforts, has backed such companies as Dollar Shave Club, DogVacay, FameBit, EventUp, August Home, Hello Society, Playhaven, and Superfly Labs.

MILA CAPITAL Managing Directors: Carmen Palafox, Noramay Cadena, and Shaun Arora The venture capital firm that is behind the Make In LA hardware accelerator, raised its first official venture capital fund in March, officially closing its first fundraise. The fund says it has, thus far, made investments into 16 companies since 2015. They are specifically investing in early checks for hardware startups across multiple industries, including agtech, healthcare and biotech, mobility, and aerospace, advanced manufacturing, cleantech, and other areas.

1

NEXTGEN VISIONARY NEW YORK SEVERIN HACKER CO-FOUNDER AND CTO DUOLINGO

Severin Hacker dreamed of starting his own company at an early age. The Swiss-native, who grew up in a small town outside of Zurich, recalls being one of the few families in his neighborhood to have Internet. Fueled by his interest in video games, he taught himself computer programming at age 12, around 1996.

Hacker’s love for computers led him to the doctorate program at Carnegie Mellon University in Pittsburgh. There, his vision of becoming an entrepreneur became a reality.

Two years into his doctoral program, Hacker developed the popular language-learning app Duolingo. Co-founder Luis von Ahn served as Hacker’s advisor at CMU. The pair wanted to make learning a new language accessible to everyone, so they created a free platform with 94 different language courses in 38 languages. Users have since flocked to the app, which now boasts more than 300M users—including Bill Gates.

Hacker recently shared with CSQ that he’s just scratching the surface of Duolingo’s potential. Here, he speaks to his early career challenges, and why the path to IPO is a step forward instead of a step away.

SEVERIN HACKER Age 36 Hometown Zug, Switzerland Residence Pittsburgh Education B.S., Computer Science, Swiss Federal Institute of Technology; Ph.D., Computer Science, Carnegie Mellon University First job Duolingo DUOLINGO Founded 2011 Employees 220+

Gained in Translation In less than 10 years, Duolingo Co-founder and Chief Technology Officer Severin Hacker has helped his company amass a loyal base of more than 300 million users around the world. Even with talks of an IPO on the horizon, the 36-year-old has no plans to slow down. By Subrina Hudson

At what point did you realize Duolingo was becoming successful?

it wasn’t that hard. Someone showed me this article, essentially giving away pieces of your There were a few moments, but when we won job in order for the company to grow, called Apple’s “App of the Year” in 2013, I knew this “Give Away Your Legos,” and that really stuck was no longer just a research project. I mean, with me. I think over time I’ve become pretty the award didn’t directly help us—we did good at delegating things and sharing my Legos. get featured by Apple and that helped with downloads—but it felt like this is not going to What haven’t you accomplished that you’d go away anytime soon. It felt amazing at the still like to do? time because we really had no right to win. We I feel like it’s still the early days. Duolingo is were just a 15-person startup. It started out as really good at teaching beginners and at some a research project, and it was a great product, point, it levels off. You can’t become fully flueven back then. But it was still very surprising. ent just using Duolingo, but I believe that it’s possible. I believe that you can learn a language What aspect of your role as CTO do you enjoy just using a smartphone. It might involve other the most? modes of learning, maybe at some point you I enjoy all the things I do because I’m pretty have to talk to a human, but I do believe that good at not doing the things I don’t like. I’m very it’s possible to get people to proficiency using involved in hiring. I like working with really apps like Duolingo. smart people, and I think Duolingo has done a fantastic job at hiring the right people. Hiring Co-founder Luis von Ahn has said Duolingo is a lot like sales. You’re selling your company is planning an IPO next year. Has this goal to the candidate, so you need to have a good changed the way you approach the business? message. For example, what works for Duolingo We’re still just scratching the surface. There’s is the mission. Probably 60 percent of the peo- so much left to do. Basically, the way we see it is ple here at Duolingo wouldn’t work here if we we want to build a successful business—a susdidn’t have this mission of providing education tainable business. An IPO or going public, peoand making it universally accessible. That kind ple always call it an exit but we’re not planning of social-good mission is one of the big reasons to exit. So, it’s more like a milestone and you why people work here when they often have have shown that you can grow a company to offers from Google and Facebook, where they a mature public company. A lot of it is also like could possibly make more in the short-term. a marketing event, but we do what’s best for the The other thing that’s actually quite enjoya- long-term interest of the company, and if IPO ble is when you can delegate things. For me, is part of that then we will IPO. end

Innovation - Hacker

What were your early career goals, and how did your interest in computer science come into play?

My dad is an entrepreneur, and it was always a dream of mine to start a company at some point, but I didn’t know what that was going to be. What originally drew me to computers was video games and the desire to build your own games and understand how those games are built. I was somewhat obsessed.

When thinking about the early years, what was the most challenging situation to overcome?

The most challenging part was hiring people— this was around 2011 or 2012 when it was Luis and me. We were still at the university back then, but it was so hard to get people to work for Duolingo. At the time, startups weren’t nearly as attractive as today, and people at Carnegie Mellon wanted to go work at Google or Facebook—one of the big tech companies.

We heavily relied on friends and referrals in the early days.

CSQ Q1 2020

53

2

Molecule Man

NEXTGEN VISIONARY LOS ANGELES

As a leader in the cannabis industry, Josh Held combines his unique background with an unwavering push into a pioneering field.

JOSH HELD FOUNDER AND CEO CHEMISTRY HOLDINGS

By Chris Casacchia

Josh Held had a spring for the books. The entrepreneur closed two exits in consecutive months, cementing his success and influence in the wellness and cannabis industries. In mid-April, Acreage Holdings closed its $160M buy of cannabis-infused edibles and beverages manufacturer Form Factory Inc., which Held cofounded and continues to serve as president.

Less than a month later, CURE Pharmaceuticals paid $115M to acquire Chemistry Holdings, a company he founded and led to revolutionize drug delivery and development, including the creation of chewable, oral thin film, quick-dissolve tablets, and ingredient delivery systems. Quite a run, considering he had no experience in these industries a decade ago as the recession raged, which led him to acquire a host of credentials after graduating from California State University, Long Beach.

“I was in retool mode,” says Held, who in a calendar year acquired a real estate broker’s license, a Series 7 to sell securities, a Series 66 for investment advisory services, and an insurance license. After a brief stint working at a Northern California law firm, he relocated to Los Angeles to be with his fiancée.

A friend who worked at MTV helped him land a job on the digital media team under parent Viacom. His media-buying clients were Red Bull, Adidas, and Honda, among other heavyweights. “It really gave me an understanding of audience and the digital landscape,” he says. After a year, he left to become a financial advisor at J.P. Morgan, which better aligned with his credentials and was far more lucrative. He built a book of clients with more than $100M in assets.

Working through day jobs, he self-funded a chewable alcohol concept in 2009 that was more garnish than spirit. His now wife, Stacey, who was managing nightlife and music professionals, put him in touch with DJ, songwriter, and producer Diplo. For his seed round of capital, Held rallied an eclectic group of backers, including Diplo, entertainment company Disco Donnie Presents, the Cipriani family, and Brando Correggiari, moguls of hospitality and fashion who helped him raise about $750,000, enough seed capital to launch Chemistry Spirits.

His oracle of micro-encapsulation systems and processes, Teresa Virgallito, un-

Innovation - Heid

54

INNOVATION & TECHNOLOGY

locked the first of many products for the company. “We could put a greater density of an ingredient in a chewable format then was previously possible,” Held says. The ingredient could be a proven pharma-molecule, nutraceutical, vitamin, or herb, with time-released ingredients and capable of being made in any color, shape, and flavor.

In 2012, he raised an additional $750,000 from the likes of Dyrdek Machine and Michael Greenberg, president and cofounder of Skechers, transforming Chemistry Holdings into a platform agnostic to industry use and poised to repackage molecules of all kinds.

Most of Chemistry Holdings’ early work was consulting for nutraceutical companies, helping them fix the instability of ingredients, a challenge facing many in the emerging cannabis industry.

JOSH HELD Age 34 Hometown Vacaville, California Residence Sherman Oaks, California Family Wife Stacey, and daughters Layla (4) and Kennedy (2) Education BA, political science and business, Cal State Long Beach First job M. L. Stern in Beverly Hills on trade desk Mentors Rob Dyrdek and David Gaw CHEMISTRY HOLDINGS Founded 2009 Employees 12

The company’s breakthrough came in 2015 when transformed cannabis distillate, the pure, potent, odorless oil, into powder. Made

by Science Inc. was spun off to solely handle cannabis operations and silo the risk. It raised $1M from North Bud, a Canadian cannabis fund. “I really started to see the opportunity for repackaging products,” Held says. An encounter with Tony Bash at a cannabis event in Aspen led to a partnership and an eventual merger with Gesundheit Foods, a commercial food co-packing company.

This marriage of technology and scale was overseen by Held and Todd Boren, managing partner of MacArthur Capital, which became the largest shareholder of the newly dubbed Form Factory. Held and Boren embarked on a three-day, 27-pitch road show last year in Canada to raise money for the new entity, meeting with the industry’s largest and most influential players. Reps from Acreage Holdings visited Form Factory’s Portland, Oregon, manufacturing and distribution operation and offered to buy the company outright. The all-stock deal, announced in December 2018, closed in April 2019.

With the use of the technologies in the cannabis vertical now set, Held reengaged Rob Davidson, CEO of CURE, to potentially unload Chemistry Holdings, which held intellectual property in hemp, CBD, and other non-psychoactive products. With the help of Entourage Effect Capital, Held raised $10M, and in May 2019, Chemistry Holdings was acquired

by CURE, positioning Held as one of its largest shareholders and with a board seat, while providing a sizeable return for investors.

CSQ recently caught up with the busy CURE director and YPO member to discuss innovation, lessons learned, and his leadership style in one of the nation’s most volatile sectors.

operationalizing manufacturing as part of it, it’s going to take three times longer and cost three times more than you planned. Also, much of my success comes from my ability to communicate what my needs are, what my expectations are, and ultimately, the results. For me being very levelheaded and having a range of skills—both professional credentials and otherwise—allows me to listen. Resilience helps too.

You’ve launched, grown, and sold two companies for more than $100M. What were the big drivers in those exits?

To enable platforms, you need sound intellectual property that allows for differentiated products, but you also need scale. The combination of innovation and scale has unlimited upside if positioned correctly.

What are some of the biggest challenges you’ve overcome or lessons you’ve learned?

Raising money is really hard and while raising that money, stretching those dollars to meet payroll and keep morale high and manage personal life. And the ability to be agile and overcome adversity. I wouldn’t say it’s a series of failures, I’d say it’s a series of walls that you run into. You can’t give up. You have to look at every situation as something that can be overcome. If you ever change that frame of mind, you can go back to a 9-to-5 somewhere else.

What are the biggest problems in cannabis product development, manufacturing, and distribution?

The back of the house, enterprise solutions that all other industries have in terms of centralized procurement, lines of credit, HR, software, and solutions—name it, we don’t have it. So it makes it that much harder to recruit talent.

The other pain point is consistency.

What are some misperceptions about the cannabis industry?

That everybody who consumes product is just trying to get high. Nine of out 10 people we make products for [use the product] to help them with something versus recreational consumption. The biggest misperception is that recreational use is what’s driving the cannabis space. It’s people with therapeutic needs looking for alternatives to other formats—opioids and otherwise. I find that part of my job rewarding, though. I wanted to do something that was having a legitimate impact. We make products that help people in a whole range of ways, whether it’s epilepsy, sleep, pain. It’s an alternative to things that may be harming them.

How do you navigate the changing regulatory landscape of the cannabis industry?

Having a great network of strategic partners that are spending a fair amount of energy and capital to understand how to navigate the value chain today. It’s a brain trust that our legal team supplements to help us understand the risks. As an operator, I’ll always lean on legal to keep us out of trouble, but in an ever-evolving industry such as this, business needs to reserve the right to quantify the risk and take action or we’d be out of business.

Innovation - Heid

What were some of your earliest lessons in business that you continue to apply today?

When you’re building a business that has

R&D. Every product needs to be developed before it’s scaled. Senior talent in other industries is still shying away from coming in. They’re still waiting for those lower barriers to be removed, and they’re not going to compromise all they’ve built in other categories. The enabler will be fed permissibility, not legalization. So, enterprise can start to support the category.

It will be a lightning bolt for the economy because of all the peripheral industries impacted.

What is the next big evolution in the cannabis industry?

Pharma truly stepping into the space in a clearly defined way. For example, any product over a certain dosage becomes a pharmaceutical versus a recreational-focused product for consumption. I’m a huge fan of low-dose sessionable products for recreational purposes.

Right now, the market really needs to define use cases, and pharma needs to step up and say anything over a certain dosage form, we are making as an optimal sleep aid or to mitigate pain or inflammation, etc. As data becomes more available to substantiate therapeutic effect and the value chain can more consistently produce these inputs that will drive product efficacy at scale, the full potential of this industry will become a reality. end

1. Held signing stock certificates as part of form factory.

1 CSQ Q1 2020

2

2. Exit trophies and exit vintages of wine from Dyrdek Machine.

55

3

NEXTGEN VISIONARY NEW YORK ANDY KATZMAYFIELD CO-FOUNDER AND CEO HARRY’S

ANDY KATZ- MAYFIELD

HARRY’S

Age 37 Hometown Brookline, Massachusetts Current Residence Bi-coastal between L.A. and N.Y. Family Lacey (wife); Chloe and Isla (daughters) Education B.A., Public Policy, Duke; MBA, Stanford University First job Waiter Mentor My dad

Founded 2012 Employees 800

A Close Shave to Success Harry’s Co-founder Andy Katz-Mayfield is modernizing men’s hygiene by expanding the company’s mammoth quest to tackle consumer needs.

By Jason Dean

Man had been shaving for millennia when Andy Katz-Mayfield entered a New York City drugstore one evening for an affordable razor.

Eyeing the locked rack of over-priced devices, he recognized an unmet need. Not long after, he partnered with college friend (and Warby Parker co-founder) Jeff Raider to form Harry’s.

The brand that started with direct-to-consumer razors has since evolved into a major omni-channel player in men’s care.

Launched around the same time as another disruptor (Dollar Shave Club), Harry’s sought to differentiate itself by providing an innovative, affordable solution. Their value proposition: consistent pricing across retail and online channels; a straightforward assortment of men’s care products that simplify options; honest ingredients; and a commitment to give one percent of all sales to causes that give back to men in need.

CSQ recently caught up with Katz-Mayfield as Harry’s preps for an anticipated combination with Edgewell (parent company of Schick) valued at $1.4B—a total that would eclipse the $1B Unilever deal Dollar Shave Club inked in 2016.

Innovation - Katz-Mayfield

Did you feel the heat of competition for mar­ ket share with Dollar Shave Club in 2012, when you were both fledgling companies?

I don’t think we ever considered Dollar Shave Club our primary competition. In retrospect, it was great because having them out there as an alternative, it caused a lot of people to consider that they had options. There’s one Goliath [Gillette] and then a whole lot of Davids. While we compete with Dollar Shave Club on some level in terms of mindspace and advertising dollars, I think there’s a number of insurgents that are chipping away at the monopolists.

How did you meet Jeff Raider and what is your working relationship like?

Jeff and I were college interns together. We worked together in private equity for five years, then came back together to build Harry’s.

There is real value to having known someone for nearly 20 years. You share a deep trust and a shared set of values and worldview. We don’t disagree on too much. Over time, we’ve carved out certain areas of responsibility. Historically, Jeff spends more time on marketing, the brand, 56

INNOVATION & TECHNOLOGY

and the consumer experience. I spend more time on product R&D, and finance and operations. Beyond that, it’s really useful to have a thought partner—a peer you can bounce ideas off of.

How has the focus of the company evolved since the beginning?

We launched direct-to-consumer because it felt like a way that we could provide an overall better purchase experience. We felt that having a direct relationship with our customers would humanize the company and the brand. With that said, we never considered ourselves a VC company or a tech platform.

We are a consumer products company, and so fundamentally at the end of the day, Harry’s is the brand. We still have a large, thriving direct-to-consumer business, but I think consumer brands in 2020 need to be omnichannel by definition and meet consumers where they shop. Sometimes that’s online, sometimes it’s direct, sometimes it’s Amazon, Target. So over time, we’ve expanded and become present in all those places, as long as we can do it in a way that we feel is consistent with our brand and providing customers with a good experience.

1

women’s brand, and we’ve got several other brands we’re working on in other categories, all driven by the same mindset: What is fundamentally missing from a consumer standpoint, and how can we meet that need?

When did you first believe the brand to be successful?

In some ways, I’m not sure we’re there yet.

Great, truly iconic brands get built over many, many years. There’s a lot of people who have never heard of Harry’s, so there’s lots of work to do to continue to build awareness and strong, differentiated equity. When we launched, there was so much enthusiasm and word-of-mouth, that was the first time we had any confidence that this proposition is resonating with people.

Some of the success we’ve had in mass retail, too, has shown…that we aren’t exclusively a direct-to-consumer marketing engine. We didn’t just show up overnight.

What difficult challenges have you encountered and what lessons have you taken from them?

Innovation - Katz-Mayfield

How have you expanded upon the market niche you originally carved out for Harry’s?

We’ve diversified over the years, so while we are still rooted in shaving, we have a whole line of facial skin-care products, a bar soap, body wash line, and hair styling and care. All these are based on meeting a consumer need.

In shaving, there was clearly an unmet need: a razor that worked well, at good value, and looked like it was designed for human beings and not for outer space. That was the original idea, but we still apply that same way of thinking for every new product and every new category. a consumer need could be priceor value-oriented, aesthetic, or a product-performance attribute.

Similarly, in the evolution of our company, we started with shaving and then the vision for the Harry’s brand, and of the overall company, expanded. In trying to build a diversified consumer products company, we’ve got the Harry’s brand, we’ve got Flamingo, which is our CSQ Q1 2020

2

You get told no a lot. That’s certainly true when you’re asking investors for capital, or when you’re asking people to join your fledgling company when there’s only five or 10 of you. What I’ve learned along the way, is when someone says “no,” I just hear “maybe.” It’s like, “so you’re telling me there’s a chance. Let’s continue the conversation.” Eventually, somebody will say yes, and you can prove yourself and keep building on that. That’s not easy in the early days, to get used to rejection and ignore it. Once you do that, though, it can become empowering.

Harry’s recently set a goal to help 500,000 men gain access to quality mental health care by 2021. How has the company’s support of this cause been demonstrated?

1. Andy KatzMayfield is the Co-founder of Harry’s, which is anticipated to sell for $1.4B. 2. The brand has expanded beyond razors to offer a range of men’s grooming products.

We donate one percent of our revenue to social causes and partners. For the Harry’s brand, it has evolved over time, but the cause that we’ve really embraced the last couple of years is men’s mental health. There’s a public stigma around the issue, and we’re uniquely positioned to have an impact in that arena. Having a social responsibility has always been an important part of what we do. In our employee population, too, I think people like to work for an organization that they feel wants to make a positive impact aside from just the bottom line. It has been an important part of our company policy and strategy over the years. end 57

4

NEXTGEN VISIONARY LOS ANGELES RYAN HUDSON CO-FOUNDER HONEY

RYAN HUDSON

HONEY

Age 39 Hometown Detroit, Michigan Residence Los Angeles Education BS in Operations Research and Computer Science, Cornell and MBA from MIT First job Mowing lawns

Founded 2012 Employees 370

Sweet Success In just six weeks, this out-of-thebox thinker took a browser extension and created Honey, a shopping and rewards platform that, seven years later, was recently purchased by PayPal for $4B.

By Samantha Brooks

Innovation - Hudson

1

You know that nagging feeling you get when you’re shopping online and see an empty coupon code box? It’s that feeling that someone somewhere is getting a deal, but that someone is not you. Ryan Hudson was tired of seeing that empty box and searching tirelessly for coupon codes, only to came up empty handed.

He knew there had to be a better way.

In just six weeks, he created a browser extension that would take the hassle out of endless online searches, which often lead to dead ends. With Honey, users to get the best deals on items ranging from food and household goods to electronics and clothing. Despite ups and downs—it took about 3 years for the company to be profitable and amass a substantial following—Hudson and his business partner George Ruan, persevered.

58

INNOVATION & TECHNOLOGY

Earlier this year, PayPal announced they were acquiring Honey, largely for its ability to give its customers a better retail experience.

But Hudson is hardly ready to sit back and relax. CSQ caught up with Hudson, just as the sale was closing, to discuss his path to success and hear what’s next.

Describe the lightbulb moment that created a company worth $4B?

I was a self-taught computer programmer who grew up learning on a TI-82 calculator in math class. I was always playing around on it and seeing what was possible and what technology could do. I had been looking into the Chrome webstore to see what Google was doing with extensions, and I saw a fun place to build products. When it came to shopping online, I real-

ized how tedious the process was to search for a coupon code. You’d spend a bunch of time searching for a code, and then not end up finding a valid one, but yet you never really knew if you had exhausted the search. I thought it would be great to automate this somehow.

Browser extensions were a great platform to see if it were possible.

I spent about six weeks creating the extension, and then we launched in October, 2012, just before the holidays. We got great feedback and immediately knew this was something special. We were making it easier for people who were already looking for discounts, while also reaching an entirely new user who was never looking for them in the first place.

You weren’t the first to launch a couponsourcing product, though. What was innovative and different about your approach?

At the time, all of the new entrepreneurial focus was going into new platforms and apps.

People who were thinking about how to make shopping better were looking to do it on mobile phone—we were doing it on a desktop, which was un-fundable. Investors weren’t looking to throw money at innovations in that space. They figured that anything to be invented there had already been invented.

We decided to go there anyway. I knew from my own experience that there was a need.

We were helping people save money and by doing less work. There’s an inherently awesome experience in finding money unexpectedly.

Our users loved it and would share their anecdotes of saving money with friends, which meant that our base was growing without us really even fueling it.

Once our user base had grown to a few hundred thousand in 2014, we were able to raise a small note from investors. We then hired a head of partnerships in 2015 who had experience working with retailers and that turned it into a business, not just a tool.

Consumers use Honey because we help give them the confidence they need to checkout, savings or no savings. Retailers work with Honey because of the confidence we give consumers helps them reduce cart abandonment and cross-site shopping, which in turn results in incremental users and sales. We now have 10K+ merchant partners through affiliate networks and also have strong direct relationships.

had to work for another company for about a year, doing Honey on the side.

Our first offices were in a super sublet in the auto-body district of Pasadena. We had a couple of desks and a glass table that we’d also use for lunch. We’d get interns wherever we could. It was as scrappy and bare bones as you can imagine.

About four years ago, we figured out how to make it a revenue-generating company. We’ve doubled our employee count every year. We’re at about 370 employees now, and we started 2019 with 200 employees. The year before, we had 100, and 50 and 20 employees in the years before that. It’s been a pretty wild journey.

How has Honey evolved since its early days?

ple to buy, whether it’s on a desktop or a mobile phone. People know and love us for the coupons, but we offer so much more like Honey Gold, Drop List, and there are lots of tools to manage the eComm experience.

What have you learned about marketing and branding a tech company?

First of all, you have to have word of mouth.

You need people who are going to say to themselves, “Wow, this is amazing. I need to tell everyone I know!” That message was amplified with us, and our users let people know that we exist and we deliver.

In terms of branding, “Honey” was just a great name for us. I had started a bunch of tech companies in the past, and you can try to come up with a name that makes sense for weeks. We stumbled upon Honey, though. It’s sweet, positive, fun, has playful connotations… there are puns. It just clicked.

In the beginning, we didn’t have Honey members, just users. There was no concept of creating an account, all you had to was download the extension and use it. Then we started building retailer relationships and started getting revenue. This allowed us to build out What have you learned from your struggles additional features and we evolved into more along the way? of a membership model. However, you can That a company has to be in a constant state still download and use the browser extension of learning to come up with growth and sucwithout creating an account, or you can join as cess. There’s always going to be chaos, but it a member and take advantage of Honey’s other has to be trusted and controlled. I’ve learned features, like Honey Gold, our loyalty program that when it comes to hiring, we need people that gives you rewards on top of coupons. who can thrive in that environment and beWe rescaled our idea of users verses mem- lieve in the future. They have to be comfortable bers. Initially, no one registered. There was no with things not being predictable and know concept of creating an account. However, we that we’re all in this together. reached enough people where we had enough We also want our employees to be in credibility with retailers that we could tell a place where they can grow and stretch. We them about our user tool and that by work- do a lot of things to support our employees and ing with us, it would improve their retail. We achieve their growth. For instance, there’s lots had proven that and had revenue. That lead of training, but it comes down to the mindset. to member growth. We then launched other We try to get people who always ask “why,” things like the Honey Gold Loyalty program, then “why” again, and “why” again. Teaching which gives cash back on top of coupons, that mindset is linked to people who are inas well a flywheel on top of Facebooks ads… trinsically linked to working better. I hesitate things like that. to use the word “fail,” but it’s important to fail We only just launched our app last year. comfortably and grow from it.

We knew to build a successful app it was going to take a lot of time, so we didn’t have one for You just got purchased by PayPal for $4B. a long time. We focused on building one thing What has that process been like? well: an extension. Then we started thinking From the beginning, the goal was to build what we could do for mobile app, which is de- something important and really have an imsigned to help our users shop wherever they pact on our members. We never intended want to be and know that they still have the to sell. This is not an exit. We’re still going best experience. to be leading Honey and its growth. We spent In a lot of ways, the app took seven years months talking to the PayPal team about how to create, but some things are only possible our mission to make money fair for everyone because of what we learned from browser ex- aligns with their mission to democratize finantension. I joke that the app took seven years, cial services. We’re really excited to be working but really, it took seven years. People are still together to make it a reality. end shopping on their desktops, but now there’s a new platform where existing users can also use their mobile devices. I wouldn’t say there’s been a shift in the way people use Honey—it’s more of a growth. Our goal is to support all kinds of shopping.

1. Hudson Still, people assume Honey is just a cou(left) with his pon, but what we’ve proven in the last seven Co-founder, years is that it’s really just a better way for peoGeorge Ruon.

Innovation - Hudson

You studied engineering at Cornell and then got your MBA at MIT. How did education play a role in your success?

I wasn’t necessarily a great student. I liked learning things I was interested in, and when that overlapped with the curriculum, I was good. If not, then I wasn’t. I went to business school before it became unpopular for people in startups to get an MBA. It was more about applying business thinking to technology.

MIT has a great entrepreneurship program with a tech focus. That experience in my mid-20s got me working in venture capital, which allowed me to see behind the curtain.

My first job out of school was with Forrester Research, looking at market trends and the future of technology. It was a broad set of tech-founded industries. It was an investment in myself to learn and be in that spot.

What were the early days of Honey like?

George [Ruan] and I started it with a few people who we could get to help us on the side.

We strapped on a tiny amount of personal investment and money from our parents and stretched that as far as humanly possible. We paid ourselves nothing and convinced our friends to work for free. That lasted a long time, and I eventually ran out of money and CSQ Q1 2020

59

5

VISIONARY LOS ANGELES TONI KO FOUNDER AND CEO BESPOKE BEAUTY BRANDS

TONI KO Age 46 Hometown Seoul, South Korea and then Los Angeles Residence Hancock Park Family Sir Bruce Barkalot (dog) First job Worked at the family busi­ ness, Misty Perfumes and Cosmetics Mentors My mom, Elaine Ko

Beauty Supply and Demand

BESPOKE BEAUTY BRANDS Founded 2019 Employees 11

Utilizing social media and a diverse base of influencers, beauty disruptor Toni Ko is set to once again carve out her own niche in the cosmetics industry.

By Samantha Brooks

More than 20 years ago, Toni Ko created a new niche in the beauty industry with NYX’s high-quality, low-cost cosmetics. After selling NYX to L’Oréal for a reported $500M—and taking a five-year break—she’s once again primed to make waves in the industry. Her new company, Bespoke Beauty Brands, partners with beauty influencers to develop their own lines.

CSQ caught up with Ko at her home in Los Angeles, shortly after the launch last fall to discuss her path to success and what lies ahead.

Your parents were in the cosmetics industry.

Had they been in the electronics business, do you think you would have gone into electronics or would you still have found beauty?

I definitely grew up in the family business.

My parents are first-generation immigrants, and we moved to Los Angeles from Korea when I was 13. Because of the language barrier, they took the classic path and opened a small business. By chance, they came across a small retail space. They were able to buy it and sold budget-friendly designer fragrances like Jordana, Jordache, La Femme. My parents worked all the time, weekends, holidays, and never took a vacation. I was 20 when we took our first vacation, and that was only because the Northridge earthquake had collapsed the store’s roof, so they were forced to close the store while it was under repair. We went to Hawaii for three days.

Eventually, they had a few locations and were doing wholesale business with some clothing and cosmetics too. I was managing all of the accounts and working nonstop. Then, I realized when I was 25 that I was living at home with my parents, basically on an allowance, while my friends were all working and building their careers. On top of that, I was coming into my own as a businessperson, and my mom and I would butt heads when I wanted to do things like bring in a new computer system, change displays, things like that.

I needed to do something else for myself.

Around that time, in 1998, I saw a niche in the cosmetics market. I didn’t have a lot of money, and if I went to a department store for cosmetics, it was expensive. A MAC liner was $15, which was a lot of money for me then.

If I went to Sav-On, the drugstore brands were all bad and low quality.

Innovation - KO

1 60

INNOVATION & TECHNOLOGY

I couldn’t get what I wanted. Because our family had been in this business, I knew a supplier out of New Jersey making products for the brands we were selling, and I saw how I could start my own brand.

I wanted an elegant, chic product that didn’t scream that it came from the drugstore.

Brands like MAC and Chanel have packaging that’s just simple black and white, which is actually more cost efficient than the drugstore stuff that was covered in gold foil.

My mom gave me $250,000 of seed money to start it, and NYX was born.

What were the early days of NYX like?

It started with just pencils for eyes and lips.

We launched May, 1999, and the trend was the dark lip pencil with nude lipstick inside.

There were just 12 lipliners and 6 eyeliners, but that dark lip pencil was the biggest hit. We did $4M in business our first year. 807 Cocoa. I can never forget it.

I was a hit with distributors. I had single retail stores selling 50 liners a day. I was selling wholesale for about $.75 and retail was maybe $1.49–$1.99. At that price point, there was nothing else like it. The quality was good; the texture creamy. Customers liked it and told their friends. It was all word of mouth.

Did you expect that kind of success coming out of the gates?

I was very surprised. I thought we’d maybe do $100,000 our first year. I was not planning for 1. Toni Ko has taken the beauty world by storm, selling her first company for a reported $500M.

that kind of growth. I was always reacting to the growth, which is common to successful brands…always catching up.

Not all CEOs are amazing entrepreneurs.

To be a good entrepreneur, you have to identify what you’re good at and what you’re not good at. I happen to be horrible at selling. I was fortunate that the product sold itself. Wholesalers reached out and were coming to me. Our first stores were local shops like June’s Beauty Supply or Kim’s Cosmetics. I’d do tradeshows and convince my friends to come and help me by paying for their travel. I quickly had about 5,000 accounts nationwide.

Who else was on your team in the early days?

It was really just me. I had a 600-square-foot showroom in the California Mart when I started, and I borrowed a corner in a warehouse from my mom’s business, so I didn’t have to pay rent. At that time, everything was in Downtown L.A., so I’d load up my car and take the product down the street to wholesalers.

You sold to L’Oréal in 2014 for a rumored amount of $500M, just 15 years after starting the company. What made you want to sell?

I had brought in a minority investor in 2009.

I didn’t need the money, but I wanted to get into places like Target and Walgreens. We had spent years trying to break in, but unless you have a contact within those companies, no one there is going to risk giving you the floorspace.

Our investor gave us the intro we needed to the right sales rep, and we got into those stores.

Every investor has an exit goal, and our exit period was 5–7 years. By then, I was almost 40, and had a near-mid-life crisis. I wasn’t married, I didn’t have kids, and I was constantly living out of a suitcase. I was working nonstop but felt like I had nothing to show for it.

From 2000 to 2010, I don’t have any personal memories. I was only working. I remember being in Poland for a client’s store opening. It was spring and California was beautiful, but Poland was freezing. I was finally going home, and when I got to the airport and had to go through security and take off all of these layers of coat, scarf, hat, sweater…I was done. I was suddenly tired of it all and just felt ready.

I came home and our team put a deck together. I was chairwoman by then, and we had about 250 employees. Most of the work was led by our CEO and CFO. The process took about nine months, and then we had a list of seven potential buyers. We rented a conference room at the SLS and did individual presentations to each brand.

L’Oréal was the highest bidder, but I had also really wanted to sell to them. They have Urban Decay, Essie, Maybelline…they’re a great brand custodian, and I wanted NYX to have a future.

The real innovation comes from storytelling.

It’s the brand narrative and their authenticity.

Consumers are smart. If you don’t innovate in storytelling and how you interact with your consumers, you won’t go anywhere. The technology isn’t in the product itself—it’s in the way it’s told online through social media or YouTube. Fifteen years ago, the online canvas didn’t exist for this. That’s the difference technology has made in the beauty industry.

Why launch Bespoke Beauty Brands?

What do you do if you don’t work? I’ve worked hard my whole life. After I sold NYX, I wanted to be leisurely, but I got depressed. I had a non-compete for five years, but I still wanted to be creative, so I started a sunglass company called Perverse. The non-compete expired in 2019, and I got back into it.

The easy way to explain Bespoke Beauty Brands is that it is a beauty incubator. I’m not reinventing the wheel here, either, but my unique niche is the fact that all of the brands I’m helping to create are in partnership with influencers. My first is Kim Chi [from Ru Paul’s Drag Race]. The look of the brand is totally different from what I did at NYX. It’s all pink and yellow and bright—but it’s her brand. She’s the creative.

The reason to go this route is that the cost of social media is now so expensive. If you launch, it’s hard to make an impression without spending a lot on parties and paying influencers. However, by partnering with them and doing an equity deal, they own the business, get Class A stocks, a board seat, title…they partake in all of the dividends. You can’t rely on the influencer alone to sell for you but having them adds fuel to the fire. We launched in October of last year and by December had 60,000 organic followers. Launching the same thing without her probably only would have gotten us 5,000 followers. On Shopify, 92% of our sales come from Instagram. Numbers don’t lie.

Innovation - KO

2. Her latest venture is Bespoke Beauty Brands, where she will partner with influencers like Kim Chi.

C osmetic s have b e en around forever, and there is still essentially just lipstick, 2 CSQ Q1 2020

eyeshadow, foundation, etc., yet new brands launch all the time. What do they have to do to keep re-inventing the wheel?

Have you ever failed?

The sunglasses company was not a huge success. It was not nearly what my projections were at. Financially, it was a loss. I had six retail stores, and building stores is expensive. So is paying the rent on the lease. But I gained a lot of information. In 2014, e-comm was only maybe 3 percent of my beauty business. But the last five years have been more like 50 years of growth when it comes to the eCommerce world. Staying in the game at that time made me aware that you don’t need to spend $250,000 for someone to write you custom code for your site. Shopify is a game changer for eCommerce. Also, when you start a new company, you don’t have to buy an expensive inventory management system. Quickbooks is good for at least the first year or two. end 61

6

VISIONARY MENTOR LOS ANGELES

Overachiever to the Underserved

ROBIN RICHARDS CHAIRMAN AND CEO CAREERARC

Discovering overlooked opportunities for internet-based companies, Robin Richards has achieved success over and over through a range of tech businesses rooted in service.

By Andrew Dalton ROBIN RICHARDS Age 62 Hometown Southfield, Michigan Residence Calabasas, California Family Wife, Susan, and proud girl-dad to Lexi Reimer (34), Taylor Timmer (32), and Kayla Richards (26) Education BS, political

science, Michigan State University First job Painting warehouses at age 12 Mentors Paul Ouyang, my partner of 22 years and life itself CAREERARC Founded 2010 Employees 110

Robin Richards, CEO, chairman, and cofounder of CareerArc, has spent the last several decades as an onward-looking entrepreneur, seeking out underserved needs, uncovering unnoticed opportunities, finding the right matches between markets and the masses, and showing those who’ve worked under and alongside him how to do the same.

The Detroit-born son of a newspaper printing-press worker, Richards was borrowing and hustling his way into a coin-op video game business that operated 1,600 machines while he was still in law school. Soon he was using similar skills to launch Lexi International in the 1980s for next to nothing, turning it into the largest B2B tele-services and database management company in the United States by mid-1991 and eventually selling it to a private equity buyer for $34M. That was the beginning of a pattern he’d repeat many times as his career synced with the commercial arrival of the internet. He leaned hard into the tech upheaval of entertainment through tickets.com and mp3.com, forever changed the way public institutions send essential notifications to the people they serve through the NTI Group Inc. (now Blackboard Connect), and democratized the paths into first jobs and next jobs via interships.com and CareerArc. At the Burbank offices of CareerArc, he told us about his motivations and innovations.

Innovation - Richards

You’ve clearly had a career-long hunger for the next big or interesting or necessary thing. Is this because you feel the urge to do something new and go find it, or because you see a need and decide to fill it?

I believe that technology, the internet in the beginning, the social networks later on, 62

INNOVATION & TECHNOLOGY

smart people around me. And you start asking yourself, “What’s the difference in what the folks that have everything and us that are always scraping? Can I isolate the difference?”

The people in nice cars, who went on vacations, either owned their own business or were doctors or lawyers. And I said, “Well, I don’t like school enough to be a doctor or a lawyer, so I’d better own my own business. The best way to do that is to probably get out of this environment.” So, I graduated from Michigan State and gave my mom and dad a hug. And I headed out the backdoor to as far away as I could go, which was California, and I’ve been here ever since.

You’ve been a mentor to many who went on to become major players in the technology and business community in Los Angeles, Silicon Valley, and beyond. How do you decide who would make a good protege?

1

all of these things created massive opportunities where you could look at an industry and say, “If we did that right and brought it into this world, we could be more efficient in how we serve clients and impact both the top and the bottom line.” There’s two ways to enter an industry. Create demand or follow demand. When you follow demand, you must have a better mousetrap. Lexi International, named after my daughter, started the year she was born, was my first real business. I had been a sales professional, and we spent 40 percent of our time filling out our calendar to go talk to people about the product that we were selling.

And so I said, “What if I could teach somebody else to do that and I could find more selling time, which meant more revenue?” So I started out with that business creating an automated approach to appointment-setting for sales.

I knew that the demand would be gigantic for salespeople because the one thing they hated to do was prospect. And I found out selling

appointments was significantly more profitable than selling whatever product I could sell.

Fast-forward 20 or 30 years, what do you have?

SDRs in every single company.

Your own career arc seems like it has moved increasingly toward models of public service, whether it’s the mass notification systems of the NTI Group, the starter-job opportunities of internships.com, or the expansion of outplacement for workers at CareerArc. Has that been a conscious choice?

I think mentoring is a great responsibility. So, you can’t do a lot of it, because you have to divorce yourself from the success being the reason. It’s really about development of the person and what they’re after. Because if you’re not careful, you start to judge the person’s value based on the company’s outcomes. So, you’ve got to be very careful to find people with the right integrity and the right work ethic and the right mindset and skill set and are hungry to be entrepreneurs. This person wants it bad and they believe they can do it right. Being a mentor is something you give because the person receiving it will use it wisely.

Innovation - Richards

1. Serial entrepre­ neur Robin Richards has made a career out of finding underserved opportunities.

2. The Visionary Mentor also makes time for philanthropy.

I wish I could say that what I’m doing things for is the public good. That’s nice to have, and something I’m proud of. But if I said it was the reason, I’d be lying. There is a lot of opportunity in delivering product and service to those that haven’t been lucky enough or haven’t been far enough up the food chain to get the product and service. We always ask, by doing this are we democratizing this service? With tickets .com, nobody could get a ticket that didn’t have a bunch of dough or have the ability to take time off work to go stand in line during the middle of the day at Tower Records. But as soon as there’s a computer, you can buy it online. So that turned out to be democratization.

Internships.com was 100 percent, “There’s got to be a way for somebody that doesn’t have a fancy mom or dad or uncle to compete in the world of internships. There has got to be a marketplace built.” We built it and they came.

Man, they came 100 miles an hour. So I don’t know. Is that always in the back of my mind?

Or is it just a coincidence of 30 years?

How did your early life growing up in a bluecollar family in Detroit inform the businessman you became?

2 CSQ Q1 2020

It was a modest upbringing with a lot of really

Can you talk about the Chase Foundation, the charity you started in 1992 to honor your son who died of cancer as a 2-year-old?

When you have a tragedy close to you, I think one of the things that helps someone get over that is the process of giving in their name. And that’s what we do with the Chase Foundation.

My son died, and we got help with psychosocial services for my surviving daughters. It was incredibly helpful. And a terrible time.

I sat there at the hospital while he was dying, and there was another couple of dads who sat there, too. One didn’t speak any English. The other guy was a tough blue-collar guy. And the only guy that got the services was me. Didn’t seem fair. So, as a family, we kind of decided to eradicate that problem as much as possible over our lifetime. Let’s convince hospitals that you need a playroom that is a no-doctor zone, and psychosocial services for the kids that are in there. Now, have we eradicated it? No. But I’ll bet you in L.A. County, we’ve overcome 50 percent of the problem.

And would those two other dads have the same services as you today?

If they were in L.A. County today in any of the hospitals we do business with, they’d have psychosocial services free of charge. One hundred percent. end 63

Innovation - Driver Ferreira

VISIONARIES OF THE YEAR

Words by Matt Pressberg Photos by davidgoldmanphoto

Twice as Nice

When it comes to running a $1.7B mobile-games giant, two CEOs are better than one.

Innovation - Driver Ferreira

CSQ Q1 2020

65

JAVIER FERREIRA

and Goldmund

Age 43 Hometown Madrid Residence Los Angeles Family Wife, María; two daughters, ages 18 and 13, and a son, age 10 On my wrist WHOOP fitness tracker In my garage No car Favorite book A Season in Hell by Arthur Rimbaud and Narcissus

by Herman Hesse Education BS, economics, University of Warwick; MSc, social anthropology, Oxford University Go-to spot for business drinks Chateau Marmont and The Varnish Awards and distinctions Variety Dealmaker of the Year (2019);

and helped Scopely be recognized with honors including Built in LA’s Best Places to Work (2019 and 2020), and Fast Company’s World’s Most Innovative Companies (2017 and 2018) Philanthropic causes Educational causes Can’t-miss conferences and events GDC Mentors A friend who

taught me about adventure and courage, my first boss who taught me about deep personal humility and to develop a team-first mentality, and all of my partners on the Scopely journey who have helped me grow in ways that have surprised me and made me a better executive and person

“I certainly wasn’t aware that you could study anything that would be relevant to working in video games and I had no particular plans to work in this industry,” Driver says. He went on to Brown University, where he studied creative writing in an extremely self-directed atmosphere, with no required classes and little guidance. He found he performed best in that setting, which eventually pulled him in the direction of entrepreneurship.

He thought he might want to be a writer but found spending hours alone writing unsatisfying. He craved interaction with other people—and found that interaction in the freeto-play games starting to emerge on platforms like Facebook and MySpace. “I was immediately drawn to that because it felt like an industry that was going to grow dramatically in the years to come and one where you could create an experience that was iterative and ongoing,” Driver says. “I saw the potential for it to be about a collaboration with the consumer.

That was really what hooked me—the ability to try and create something and see how people were using it and how it was making them feel.

I liked the idea of then incorporating that into your thinking, improving it, and seeing what direction the user takes those experiences in.

It often turned out to be in ways you don’t anticipate, which is always a fun surprise.”

Ferreira also went to prestigious schools, studying economics, politics, and anthropology at the University of Warwick and Oxford University. Like Driver, he had a largely self-directed experience and never studied computer science. Ferreira wasn’t planning for any particular career, but really enjoyed the learning process and looks back fondly on his college years. And neither he nor Driver were itching to climb the corporate ladder as soon as they received their diplomas.

“I came out of college with a strong ‘anti-work’ mentality,” Ferreira says. “So did I,” adds Driver. Ferreira took odd jobs, working in places like nightclubs and farms. He also backpacked through Latin America, which was a formative experience. “You meet a lot of people,” Ferreira says. “But the person that you meet the most is yourself.”

Around 2000, Ferreira decided to return to Spain and get serious. “I thought about life, and what I wanted to do,” he says.

Innovation - Driver Ferreira

In a tech industry seemingly defined by solitary visionary leaders, Scopely has taken a different path. Last year, the company elevated then-President Javier Ferreira to co-CEO, joining fellow co-CEO Walter Driver as an equal atop Scopely’s leaderboard. And rather than create confusion, the company’s co-CEO structure has only helped fuel its continued growth into an indispensable company not just in L.A.’s tech scene, but in the mobile gaming universe.

“What we’ve been able to do together is far greater than what we could accomplish on our own,” Driver says. That’s not just hype: Since Ferreira joined the company in 2014 as its chief operating officer, Scopely’s revenue has grown by a multiple of 20. Its Culver City, Calif., offices are bursting at the seams, as Scopely prepares to expand into a larger space in a brand-new building down the street.

A new game, tied to one of the most recognizable intellectual properties anywhere, Scrabble, is about to come out. They have also just announced acquisition of FoxNext Games from The Walt Disney Company, which includes the blockbuster MARVEL Strike Force. It’s a good time to be one of the two men at the top of a company at the top of its game—and gaming.

What’s the secret to their success as a team? The same as in most relationships: hard work and communication. “The co-CEO thing 66

INNOVATION & TECHNOLOGY

works if you put a lot of work into it,” says Ferreira. Driver agrees: “People ask me, ‘How do you do it with two people leading a company?’

I now say back, ‘How do you do it with one?’”

Pregame

Driver and Ferreira have their roots in the tech hotspots of Atlanta and Madrid, respectively. But the beauty of video games is that they create universal, shared experiences that transcend geography. Both Driver and Ferreira were dedicated gamers growing up. Ferreira was shaped by Castlevania, while Driver was more of a Civilization guy—but both put in their hours.

“I spent a lot of time playing games,” Ferreira says. “That was my first encounter not just with the experience of making games, but with the craft and the artistry and creativity of making games.” Driver, who grew up with two older sisters who had zero interest in video games, says his formative experiences with gaming involved the “fundamentally social experience” of playing with friends. “That’s always been the part of gaming that’s interested me the most,” he says. “This kind of facilitation of relationships.”

That being said, he had no grand plans of making a living in the video-game industry.

He wouldn’t have even known where to begin.

Starting Up

Ferreira got his start in the industry not as a game designer, but working for Spain’s largest telecom company, Telefónica. Mobile content was starting to break out, and Europe was slightly ahead of the United States. Owning a cell phone was becoming universal, and people were moving beyond making calls to playing games and sending photos.

“To me, it was clear that was going to be the content and communication platform of the future,” Ferreira says. “It was personal, it was private, always on, always accessible.” At Telefóni-

ca, Ferreira started in the content department, working with 64K games on black-and-white phones. He decided it was more fun to be on the game-development and game-publishing side, so he moved to JAMDAT Mobile, which was based in Los Angeles, giving him his first exposure to the city he’d eventually call home. First, though, he moved to London to head JAMDAT’s European operations.

Driver came to Los Angeles in 2004 for the same reason many other ambitious young people have for decades: Hollywood called. “I actually wrote a movie my senior year at Brown that got optioned by a production company in L.A., and I got convinced to come to Los Angeles and see that through,” he says. “I had never really spent much time in L.A. or around the movie industry and I pretty quickly decided I didn’t want to write feature films. It was a very slow process and that lack of interaction with other people during the process and with the end consumer was unsatisfying to me.”

However, he fell in love with the city—particularly its residents’ notable lack of cynicism toward others chasing their dreams.

“This is a place where it feels like the highest percentage of people are working on something that they’re passionate about out of any place I’ve ever been, and also by far the [best] place that I’ve been in the world where other people are encouraging of other people pursuing things they’re really excited to work on,” Driver says. He spent a couple of years acting in commercials to buy some time to figure out what he wanted to do. He also saw people starting companies, another thing that seemed alien to him.

“That was something I didn’t even know you could do, growing up in Atlanta,” Driver says. He knew a handful of people who were close to the Facebook ecosystem and convinced him the social network was going to be massive—even if at the time there wasn’t much to do on it. But he saw the tremendous interest in people wanting to connect with each other, and a huge opportunity to facilitate that. “I learned pretty quickly that people connect best when there is a shared activity or a common interest that they can focus on,” Driver says. “And playing games is kind of the most fundamental way we get to know each other.”

With friends, he started building apps on Facebook’s platform, making mistakes and learning a lot. But he realized the bigger opportunity was on a much smaller screen. “It became clear that mobile was the great chance to apply everything I had learned from traditional media from being around the film and television business and also what I learned about free-to-play games online,” Driver says. “And one of the core things that I believe from studying the history of media and being around it in L.A. was that the ecosystem around free-toplay games was going to mature very quickly.

And ultimately, there was going to be more

Innovation - Driver Ferreira

CSQ Q1 2020

WALTER DRIVER Age 37 Hometown Atlanta Residence Los Angeles Family Wife, Kate; two daughters ages 1 and 2.5 On my wrist Nothing In my garage I actually don’t have a car, or a garage for that matter Favorite book Moby Dick by Herman Melville Education BA, English literature and fiction writing, Brown University Go-to spot for business drinks San Vicente Bungalows Awards and distinctions Variety Dealmaker of the Year (2019),

Los Angeles Business Journal’s 100 Influential

Young Executives (2019), Ernst & Young’s Entrepreneur of the Year (2016), World Economic Forum’s Young Global Shaper (2012), Goldman Sachs’ 100 Most Intriguing Entrepreneurs Philanthropic causes MD Anderson Cancer Research, Baby2Baby Can’t-miss conferences and events GDC, Fortune Brainstorm Tech, Liontree’s MediaSlopes, The Masters Mentors My dad—no one I’ve learned more from in life or business—and my partners on the Scopely journey who have challenged and changed me in profound ways

division of labor between the people who are really passionate and great at creating games and the groups that were really good at distributing and monetizing them on a global scale.

I thought the industry would consolidate very quickly around a relatively small group of global publishers that would be able to finance and empower great creative teams.”

Mobile Moment

Ferreira says he realized that cell phones were the most transformative platform of our lifetimes. First, in the early 2000s, mobile phones with other features started to hit the market.

“The quality of the experience was actually pretty bad,” he says. “It was slow. It was difficult. The games were bad. The content was bad.

And yet still, the demand for those services was extremely high. You could see the desire of people to have that experience.”

67

Innovation - Driver Ferreira

Then came the iPhone, in 2007. “It was the first time that somebody took the promise of what this platform could be and actually made it a reality,” Ferreira says. Driver felt it was clear early on that the iPhone was going to be a revolutionary technology. What its ecosystem would look like was less certain. At the time, the early apps were one-time-purchase, paid downloads, and many people envisioned that it would remain that way. But Driver’s experience building free games online and studying the ecosystem in Asia led him to a different conclusion.

“It was sort of the moment I felt confident that the mobile ecosystem would also become a free ecosystem where people could decide how much money that they wanted to spend inside of a personalized social environment on an ongoing basis,” he says. And that’s when he knew what kind of business he wanted to start. “As an entrepreneur, the opportunity of our generation was to build social experiences on a global scale for smartphones,” Driver says.

Teaming Up

There was only one small thing to overcome: Driver had no business training, and not even a single finance or economics class on his college transcript. But he could script a narrative.

“So much of being an entrepreneur, espe68

INNOVATION & TECHNOLOGY

cially in the early days, is about creating a compelling narrative that resonates with other people, because you have to convince the first person to quit their job and join something that doesn’t exist,” Driver explains. “You have to convince partners to invest in a vision that’s not yet real.”

One person he had to sell on that narrative was his future co-CEO, Ferreira, but that didn’t come until 2014, three years after Scopely was founded. Driver and his co-founders, Ankur Bulsara (Scopely’s CTO), Eric Futoran, and Eytan Elbaz, started Scopely in 2011 and spent a couple of years figuring out where the mobile-app ecosystem was headed. During those years, the company accumulated knowledge and talent. But to Driver, there was more that could be done—he just needed help.

“I wanted to do something that would really test the limits of what we were capable of, and I was already finding my own limits in terms of scaling an organization and having the right strategy to win long term,” Driver says. He asked trusted contacts in the gaming industry to suggest a potential partner to help build something much bigger than he could build on his own. One name kept coming up: Ferreira.

A mutual friend, JAMDAT CFO Michael Marchetti, was insistent that Driver meet

1

Ferreira. Driver remembers asking him for other names, which Marchetti immediately brushed off before pressing him about Ferreira again. Finally, Driver and Ferreira got together over breakfast in 2014, when Scopely was approaching 100 employees and beginning to move beyond its original IP, such as Dice with Buddies. From the first conversation, Driver sensed an immediate alignment with the way they thought about the mobile ecosystem.

He’d finally found the right teammate.

“A lot of companies were not built with a strategy first,” Driver says. “They were sort of reactive companies that had some early success and then tried to figure out what to do with it. In talking with Javier, I thought we had a real opportunity to build a blueprint first and execute against that.” The nontraditional ways they both became gaming executives also helped foster that mutual respect and admiration. “Javier and I have a lot in common,” Driver says. “Not many people follow our career path.”

Keeping Players Engaged

While Driver immediately saw the potential of the iPhone, he was not impressed with the disposable nature of many popular early apps. “From the beginning, we wanted to build experiences instead of traditional one-way

entertainment,” he says. The company focused on building a technology platform that would aim to provide a one-to-one experience for consumers, with the ability to support multiple game genres, Driver says. This would enable game developers to focus solely on building the best consumer experience and not worrying about the back end.

“We’ve been focused from the beginning on building a durable, long-term infrastructure,” Driver says. That makes Scopely’s games worth coming back to, rather than abandoning for the latest chart-topping app. For example, 85 percent of players in Scopely’s Star Trek Fleet Command play five out of seven days a week. That’s not because they love Captain Kirk, Driver says, but because they have meaningful relationships with the game and other players. “It’s more about a sense of belonging SCOPELY Founded 2011 Employees 800 Notable projects Many top-grossing mobile products, including the MMO/strategy game Star Trek Fleet

Command; The Wal­ king Dead: Road to Survival, an RPG game; the casual social game

Yahtzee with Buddies; and the newly acquired RPG MARVEL

Strike Force

Notable upcoming projects Newly announced Scrabble GO will launch later this year;

Avatar: Pandora Rising

is in development out of the newly acquired FoxNext Games Collaborative partners The Walt Disney Company, Hasbro, Mattel, CBS Interactive, WWE, Warner Bros.

Interactive Entertainment, Skybound Entertainment, and Sony, among others

Innovation - Driver Ferreira

2

1. Driver and Ferreira at the Scopely offices, shortly before their acquisition of FoxNext Games from The Walt Disney Company.

CSQ Q1 2020

and community and self-actualization than says. “We’ve grown a lot, but we’ve also grown just entertainment,” he explains. in the context of an incredible evolution of moScopely is also an outward-oriented com- bile gaming. We’ve been able to ride that wave.” pany, Ferreira says, talking to game-developFerreira also credits the company’s low ment studios all around the world to under- turnover—its key leaders have been in place stand the games they are making and trends for several years—and the co-CEOs’ dedicathey foresee. The company is also regularly in tion to carving out structured time to align on touch with Hollywood studios to gauge their operations and high-level thinking. Driver says content and IP strategies. That constant com- having two minds making strategic decisions munication has allowed Scopely to quickly re- lowers the risk of a bad call or oversight that act to player trends and iterate on them. could be devastating in a dynamic industry.

Scopely is also fortunate to work with top- “You miss one key transition, and it can be cattier IP holders. But beloved IP is no guarantee astrophic,” he says. “There’s a lot of celebration of a profitable or popular game. Game design- of visionary entrepreneurs, but the more you ers have to take a universe people care deeply believe you’re a visionary, the more likely you about and translate it to an interactive mobile are to have extreme blind spots in navigating and social experience. “It’s surprisingly nu- those transitions. I think having two people anced,” Driver says. “There are a lot of people can help eliminate some of those blind spots that are drawn into the product by the IP, and and reduce the risk that you miss one of those there are many more people that are learning transitions in a key way.” It also allows both to love the IP through the gameplay. Our job to play to their strengths. is to create an experience that’s compelling for “The complexity of this CEO job is imboth types of users.” mense,” Ferreira says. “I would say I am exAll of Scopely’s games are free to play, ceptional at some parts of that job and I am which means the company does not make actually pretty bad at some other parts. To any money when people download them. They have somebody that can complement you and have to play enough for the game to be worth take some of those parts you aren’t that good at investing in, which is how Scopely actually and relieve them, and to double down on the gets paid. The vast majority of Scopely’s rev- places where you are exceptional is extremeenue comes from these in-app purchases of ly helpful. The question is, ‘Why don’t more virtual currency, which players can then use to companies do that?’” customize their characters in almost endless One obvious answer: ego. Ferreira says ways. Not only does this type of investment one key to Scopely’s success is how they have keep players active—nobody likes to abandon managed egos. And sitting with the two CEOs, a sunk cost—but it makes the gameplay more it’s clear that it’s not an act. “We are a very personal. “We don’t really believe in limiting ambitious organization, but we also demand people’s access to content,” Driver says. “We a kind of low-ego attitude and that has realbelieve in letting people invest in their expe- ly facilitated us winning in this marketplace,” riences.” Scopely also earns ad revenue and Ferreira says. offers subscription packages for some of its games, but those pale in comparison to in- Next Stage app purchases.

These days, Scopely’s two pilots have the com“The IP can help you stand out, but it pany running like a well-oiled machine. The doesn’t guarantee success,” Driver says. “It’s company just announced its newest game, really how you translate the core spirit of that Scrabble GO, created in collaboration with IP and what people love about it into a gaming Hasbro and Mattel. It’s the expansion of an experience. Sometimes that means changing existing relationship with Hasbro and the start pretty substantial things about what people of a new one with Mattel, further connectexpect from the IP but capturing the core ing Scopely to some of the most well-known essence of it.” names in games. Still, Ferreira and Driver haven’t lost sight of what it took to get there.

Riding the Wave “My dad always told me, ‘The secret of life Driver and Ferreira now preside over a compa- is to try to understand what you’re great at and ny that continues to hit impressive milestones. to put yourself in a position where the vectors Last year alone, Scopely passed $1B in lifetime of success are going to be aligned with that, revenue and raised an additional $200M from making your weaknesses as irrelevant as they investors—funds that Driver has said will go can be,’” Driver says. “The ability to navigate toward M&A as they continue to build a bigger your way into that situation is the greatest business. superpower you can have. I think when you “Six years ago, we thought if a game could have two people, you can constantly navigate do $2M a month, we’re going to be celebrating,” that together.”

Ferreira says. “These days we have multiple “Initially, you’re fighting for survival, then games doing more than $10M a month.” And you’re fighting for success,” says Ferreira. while the co-CEOs are deservedly proud of “I think we have done a great job in both of what they’ve built, they don’t take all the credit. those stages.” And they’re doing it the best way “The No. 1 ingredient to success is luck,” Ferreira they know how: as a team. end

2. Driver and Kobe Bryant at Scopely in 2016 after the NBA star officially launched his fund, Bryant Stibel, which is an investor in Scopely.

69

Shape your education here.

So you’re better prepared out there.

Our School of Management develops skilled, purpose-driven leaders for the global world of today and tomorrow.

Undergraduate Programs • • • •

Accounting Business Administration Economics Hospitality and Tourism Management

CLU

Graduate Programs • • • • • • •

MBA (online, on campus, or hybrid) Executive MBA MBA or M.S. in Financial Planning M.S. in Information Technology M.S. in Management M.S. in Quantitative Economics Master of Public Policy and Administration

Learn more at

CalLutheran.edu/management

Carla Berrios ’20 Executive MBA

72 Health 74 Meetings and Retreats 76 Breaking Ground 78 Special Section: Investing in Salt Lake City 86 Golf Getaway 88 The Getaway 90 The Journey

Jackson Hole’s Caldera House is the perfect mountain escape for your company’s next retreat. Discover it on page 74.

CSQ Q1 2020

Destinations

Part 3

Destinations - Cover

71

Mental health is just as important as physical health at The Golden Door.

HEALTH

Executive Time

By Samantha Brooks

From a distance, the Golden Door, the famed destination spa located on 600 acres in Escondido, surrounded by olive trees and hills that overlook the ocean, might seem like many of the other destination spas sprinkled throughout California’s mountains and coastline. The difference is a retreat here not only promises a healthy escape but a total mind-body reset, specifically geared toward busy CEOs. “Most places you visit, you’re responsible for taking the time to figure out your activities, your spa treatments, your car service transportation…Even when a lot of that can fall on an assistant, there are still the instances when you finally arrive and get around to booking a massage, but the only time they have available is not at all convenient for you,” says the spa’s COO and general manager, Kathy Van Ness.

“But the reality is that when you’re looking to get away and invest in yourself, no one is going to know your needs better than you.”

The Golden Door features all the trappings to alleviate the distractions that often keep of a typical destination spa: clean cuisine, dai- executives from focusing on themselves. For ly morning hikes, a range of fitness classes, instance, Wi-Fi is plentiful, but cell phone a full-service spa, daily meditation, an array use is limited and discouraged, as are laptops. of wellness programming. But it’s what goes on Guest rooms, most recently renovated in 2014 behind the scenes that makes a lasting impact by Victoria Hagan (who has designed homes on guests, many of whom have been coming for Bob Iger, David Zaslav, and Conan O’Brien) for decades. (In fact, many guests have been are intentionally minimalist, decorated in a rywell over 100 times.) The process begins with okan style with original artwork and no teleguests filling out a detailed questionnaire pri- visions (there are TVs located in group areas, or to arrival about their habits and lifestyles— but guests rarely find the urge to turn them on). everything from dietary restrictions to athletic Because many guests come solo, the habits. From there, the team (there is a four- property is mindful about helping people get to-one staff-to-guest ratio) coordinates week- to know one another. For instance, dining arlong programming specifically geared toward rangements at dinner are choreographed by the each guest’s preferences. Many of the activities, spa, seating people at larger tables earlier in the such as the morning hikes and fitness classes, week and in smaller groups as the week goes on. are done in groups, but daily private training, “Everyone comes to dinner in a robe,” says Van massages, and other customized activities are Ness. “No one is wearing jewelry or a watch, and scheduled based on each individual’s prefer- there’s a good chance they still have oil in their ences and needs. hair from a massage. It’s not about impressing “We have seven days to make a difference in anyone while you’re here. It’s just about you.” someone’s life. And every single week, people Indeed, the judgment-free environment change. They are either losing weight, allevi- helps create a truly level playing field. Everyating back pain caused by stress, or just taking thing from the Golden Door’s own line of a mental break from their typical responsibil- natural luxury skin care products to workout ities,” says Van Ness, the former President of clothing is provided by the spa, taking every fashion brand Diane von Furstenberg. “Our decision out of the equation so that guests can biggest audience is working executives who focus on their well-being and learn how to find need to find a way to get away from themselves.” balance in their lives long after their week ends.

Experiencing the Golden Door typically The goal after the week is to feel a complete requires a week, a Sunday-to-Sunday experi- reset. “There’s a bridge at our entrance, and we ence, with men’s weeks, women’s weeks, and ask that when you enter, you leave everything co-ed weeks offered throughout the year. With outside. When you leave, we ask that you take just 38 guest rooms (no more than one per- us with you.” From $9,850/week, all-inclusive; son per room) and two cottages, the idea is goldendoor.com

Destinations - Health

72

DESTINATIONS

Travelstore

Take Your Business Travel to the Next Level

MEETINGS AND RETREATS

Los Angeles

Ready for the Season

MEETINGS & RETREATS

New York

Offering refinement in the untamed Grand Teton National Park, Caldera House redefines a sense of place. By Martine Bury

DESTINATIONS

Location: Within the Punta Mita resort development, about an hour from the Puerto Vallarta International airport.

Since opening in 1999, the Four Seasons Punta Mita has been welcoming couples, families, friends, and perhaps most often, large groups who flock to the Mexican resort for its tranquil location and full assortment of amenities. With more than 200 rooms, the property sprawls along the oceanfront, while nestled within the larger 1,500-acre Punta Mita resort development which includes a range of homes in 16 sub-communities and two Jack Nicklaus golf courses.

Now, the seaside property boasts a comprehensive multi-year, multi-million-dollar renovation, completed in September. In addition to a redesign of all guest rooms and suites

by Mexico City–based UribeKrayer, the resort has debuted a signature two-story beachfront restaurant, Dos Catrinas, as well as an enhancement of Apuane Spa. For corporate retreats, companies as diverse as banks and beauty brands have most recently been drawn to the property for its ideal combination of convenience and cultural charm.

Meeting Spaces: A total of 3,700 square feet of meeting space is available, with outdoor banquet-hosting capacity for 280 people and an indoor private dining room for as many as 50 guests. Receptions can also be held at the Tamai Garden, Tamai Jacuzzi, Las Cuevas Beach, Beach Manzanillas, and the Golf Garden.

For a place defined by some of America’s most majestic terrain, Wyoming’s Jackson Hole had humble beginnings. The grassy valley carved by the Snake River and completely surrounded by towering mountains was home to beaver trappers, mountaineers, and Native American peoples in the 1800s. Following the area’s designation as a national monument in 1948, it became the location of a scientific research center. Although it was a magnet for wildlife-viewing, the park seemed like the country’s best-kept secret. Ultimately, it evolved into a world-class recreational destination, known for sweeping natural beauty, exclusive resorts, and the planet’s largest herd of elk, which graze there year-round.

Opened in summer 2018, Caldera House offers considered luxury befitting such a grand environment. With the Teton Range to the west and the Gros Ventre Range to the east, every detail of the eight-suite escape takes inspiration from the view. With over $100M invested in building vision into reality, owner Wesley Edens enlisted friends (co-owners Michael Novogratz, David Barry, and Randal Nardone) and two award-winning design firms, Los Angeles-based Commune and Jackson-based CLB Architects, to follow the call of the wild.

The result? An intimate modern chalet with four 1,500-square-foot, two-bedroom suites and four 5,000-square-foot, four-bedroom suites, complete with chef ’s kitchens.

Keys: The resort features a total of 177 casita-

style guest rooms and 31 suites.

Dining: Eight different venues offer a range

of dining options, including the water’s edge Nuna Pool Bar, the open-air bar adjacent to the adults-only pool, and Dos Catrinas, the new signature restaurant with contemporary Mexican food and décor.

Amenities: Beyond the boardrooms, guests can

spend their downtime snorkeling and scuba diving, golfing, or indulging at the Apuane spa.

A private yacht is available for day excursions.

Price: From $900/night Contact: fourseasons.com

Location: Jackson Hole, Wyoming, in the heart

Destinations - Meeting

Home on the Range

74

Fresh off a renovation, the acclaimed Four Seasons Punta Mita is the perfect escape for groups to ditch the winter blues. By Samantha Brooks

of Teton Village, a 30-minute drive from Jackson Hole Airport.

Keys: Up to 60 guests; four two-bedroom

suites and four four-bedroom suites.

Meeting Spaces: The Gallery offers private

event space, while suites at Caldera House can be utilized for presentations, talks, group breakout sessions, cocktail parties, intimate dinners, and more.

Dining: Old Yellowstone Garage (cozy mod-

ern Italian); Southcable Café (casual dining, located next to the Jackson Hole Aerial Tram); in-suite dining, including private dinners; members’ lounge (open in winter for hotel guests and club members, and available outside of ski season for special events).

Amenities: Caldera House Spa & Athletic

Club; Mudroom sport shop; over 50 activities including naturalist-guided Yellowstone Hike and Helicopter Tour, Holistic Mountain Healing mind-body experience, Jackson Through the Lens wildlife photography expedition, via ferrata climbing and whitewater rafting, plus attractions like Teton Raptor Center and Granite Hot Springs.

Price: From $2,500/night Contact: calderahouse.com

MGM

MGM RESORTS IS MAKING LAS VEGAS THE CONVENTION CAPITAL OF THE WORLD. Whatever your vision for any special event, MGM Resorts is ready to “meet” and exceed every expectation.

Offering a world of unique Las Vegas venues and innovative spaces, the only limit to what we can offer is your own imagination. And with the recent addition of 850,000 square feet of space at ARIA, Park MGM, Mandalay Bay and MGM Grand, you now have a substantial four million square feet of meeting and convention possibilities. You won’t find that anywhere else.

Book your Vegas convention today.

For more information, visit mgmresorts.com.

1

REAL ESTATE

PUERTO LOS CABOS

Breaking Ground Destinations

By Samantha Brooks

OIL NUT BAY

- Breaking Ground

Location: Directly south of the San Jose del Cabo airport, near the marina and the low-key town of San Jose.

New developments launching around the world.

Timeline: The development first opened in 2004. Last November, Zadún A Ritz-Carlton Reserve debuted with a hotel and range of residences, the first phase of which included 27 West Enclave homes with architecture by Abax and interiors from uribeKrayer, both based in Mexico City.

About: The 2,000-acre development includes four separate residential neighborhoods, as well as 18 holes of Jack Nicklaus Signature golf and nine holes of Greg Norman Signature golf. The property is also adjacent to the Marina Puerto Los Cabos.

Pricing: Lots from $325,000; Zadún residences from $6.5M.

puertoloscabos.com

Location: On 400 dynamic acres on the northeastern edge of Virgin Gorda, in the British Virgin Islands.

About: This community of just 117 options for ownership is for ocean lovers. Amenities include a private beach club that features three pools and a swim-up bar; a wellness center with gym and two tennis courts; equipment for kayaking, sailing, and snorkeling; a Nut House for kids with games and scavenger hunts; and a Marina Village with restaurant and bar, a games room, a boutique, and 93 berths with accommodations for a yacht of up to 130 feet.

Timeline: Ground broke in 2008.

Post Hurricane Irma, which directly hit the community for 4-5 hours with 200mph winds, there was minimal structural damage due to the high quality of construction and engineering. The property continues to grow, with 40 properties sold and 37 homes set for completion in the next 18 months.

The Marina Village will also expand with a green space park, watersports deck, art gallery, and additional retail.

Pricing: Lots from $2.95M

2 76

DESTINATIONS

oilnutbay.com

THE RESIDENCES MANDARIN ORIENTAL, HONOLULU Location: In Honolulu, overlooking the city and Ala Moana Coastline.

About: This 37-story tower will rise 418 feet, offering 125 hotel rooms and 99 residences on its upper floors. The striking design is thanks to architects auWorkshop and interior designer Dianna Wong. Custom kitchens created exclusively for the project by Molteni&C Dada and a stunning water and light installation by Fluidity Design (whose other projects include 50 United Nations Plaza and the Metropolitan Museum of Art in Manhattan and the Pacific Design Center in Los Angeles). All residences will feature a private lanai. Homeowners will also have access to residents-only amenity level with pool, spa, Peloton room, chef’s kitchen and dining room, golf stimulation room, outdoor lounge, and home theater.

Timeline: Sales started last fall, and completion is set for mid-2022.

Pricing: From $3.5M to $35M. 3

moresidenceshonolulu.com MR. C RESIDENCES COCONUT GROVE

Meyer Davis have teamed up to create the nautically inspired project, which is a contemporary take on classic European living.

SPANISH PEAKS

Destinations - Breaking Ground Location: In Miami’s chic and sprawling Coconut Grove neighborhood, just south of Downtown Miami.

About: Developer David Martin of Terra has partnered with Ignazio and Maggio Cipriani to develop the Mr. C Residences, a collection of 118 residences located across the street from Regatta Harbour. Arquitectonica and

Timeline: Sales launched in February 2020, with completion slated for 2022.

Pricing: From $600,000.

mrcresidencescoconutgrove.com

4

2. Puerto Los Cabos 3. The Residences Mandarin Oriental, Honolulu

Pricing: H om e site s from $395,000; homes from $2.575M; and Montage Residences from $5.76M.

4. Mr. C Residences Coconut Grove

CSQ Q1 2020

About: More than a destination, living in Big Sky is a lifestyle. No crowds, no traffic, and proudly underdeveloped. The Spanish Peaks community features all anyone needs to be entertained in the town: an 18-hole Tom Weiskopf Signature golf course; a private “Fishcamp” on four miles of river for fly-fishing; a 32,000-squarefoot clubhouse with spa and fitness center, swimming pool, and ski storage; miles of hiking and biking trails; and direct access to Big Sky Resort’s 5,850 acres of skiing and snowboarding.

Timeline: The club was founded in 2004 and 300 properties have been sold with 600 developable units remaining. Ground broke on the Montage Big Sky in 2018, and completion of the $400M resort’s 150 guestrooms and 39 Montage Residences is slated for late 2021.

1. Oil Nut Bay

5. Spanish Peaks

Location: Encompassing 3,350 mountainous acres in Big Sky, Montana, and less than an hour south of Bozeman airport.

5

spanishpeaks.com 77

INVESTING IN SALT LAKE CITY

“The Crossroads of the West” becomes a birthplace for business

By James Faris

For years, Salt Lake City, Utah, had little in 1,000 jobs and $2.3B in new wages over the common with Los Angeles or San Francisco next 20 years. E-commerce site eBay opened a besides a professional basketball team. But that’s 240,000-square-foot campus in the Salt Lake quickly changing, as the capital of the Beehive City area in 2013. Many have since followed suit.

State has become a hub for business investment, Collective Health, Carta, and Earnest are just developments, and technology. a few examples of health care and technology With a population of roughly 1.2M as companies founded in California that have broof 2018, Salt Lake City is estimated to be the ken ground in Salt Lake City.

47th-largest American city by metropolitan Utah is known for being fiscally conservarea. However, it produces $90.2B in gross ative, as it spends a third less per capita on metro product per year, according to Forbes. Its state and local government services than New median household income, median home price, York. In spite of this, Utah has the least income and job growth are all well above the national inequality in the nation, according to the U.S. average with unemployment below the national Census Bureau’s latest data. average, at 2.9 percent.

In December 2019, The Wall Street JourAnd the state of Utah is just as impressive. nal’s Stephen Moore called Utah “America’s In U.S. News & World Report’s 2019 Best State Economic Star” due to low taxes, a strong busiRankings, Utah ranked No. 1 for employment, ness climate, and a healthy education system, No. 2 in economy, No. 3 for infrastructure, No. not to mention its beautiful surrounding area, 4 overall, and No. 5 for both fiscal stability and highlighted by its famous five national parks. business environment. Forbes concurs, ranking A corporate tax rate below 5 percent and no Utah third in its Best State for Business rankings, “death tax” for the retired wealthy are key factors and No. 1 in six of the past 13 years. that keep money in the state, which translates Salt Lake City saw business investment to a bountiful job landscape and quickly rising from large multinational corporations in 2019. wages. On the education front, Utah is in the Creating jobs and expanding their presence top half of U.S. News & World Report’s Pre-K were outdoor product manufacturer Clarus to 12th grade education rankings at No. 22.

Corporation, media agency Essence Global, data According to Moore, this is despite per-pupil center infrastructure company Aligned Energy, state spending that’s the lowest in the nation and medical device player Innovasis. Of last and $4,000 below the national average. year’s 17 notable business creation and expanDemographic trends are also in Utah’s fasion projects in Salt Lake City, five were in infor- vor. From 2010 to 2019, the Beehive State was mation technology and communications, while the fastest-growing state by population, as it three were in business and financial services. expanded 16.7 percent from the 35th-largest An expanding tech presence may surprise state to 30th. Utah’s median age is 31, which some, but the city has been on the rise in that is the lowest in the nation and well below the space for several years. In 2018, Forbes tout- national median age 38.1, and in Salt Lake City, ed SLC as the No. 1 American city “Poised to the base of 25- to 44-year-olds has grown by 19 Become Tomorrow’s Tech Mecca.” Many are percent since 2010. beginning to call Utah’s capital “Silicon Slopes.”

WalletHub’s research found that Utah is California, the nation’s largest state, boasts the second happiest state in America, behind two of the world’s largest tech hubs: L.A. and only Hawaii, with a “work environment” rank San Francisco. However, the Golden State is of No. 1 and a “community and environment” notorious for high taxes, an expensive work- rank of No. 2. force, and strict regulations, which may be why This special section highlights commercial some companies are looking toward Utah for and investment banking power J.P. Morgan, sonew business solutions. cial marketing platform Wooly, and real-estate In early 2018, software giant Adobe chose brokerage company The Agency, which have Utah, not California, as the new site for its all found a home in Salt Lake City and its sur$90M facility, which is expected to create rounding areas. end

Destinations - SLC Intro

78

PROMOTION

80 J.P. Morgan 82 The Agency 84 Wooly

Special Section

Investing in Salt Lake City

Destinations - SLC Intro

CSQ Q1 2020

79

Amid a swirl of uncertainty about the sustainability of the economic cycle, politics and geopolitics, individuals might be anxious about their wealth. Heading into 2020 a certain amount of risk is ever-present, but we are optimistic about the foundation that Utah has in place, which is why we joined our JPMorgan Chase partners and opened the Private Bank in Utah last year.

Utah is booming with the second-highest state GDP growth in the U.S., a strong startup community and one of the youngest and fastest growing populations in the

nation. The city is experiencing expansion across multiple industries, and as our clients and prospective clients grow their wealth, the sophistication and complexity of their needs grow as well.

Complexity like deciding on the most effective wealth strategy and how important news and trends may impact your life. Or where to find investment opportunities, how to plan for the future, establishing a legacy that will last beyond your lifetime. We sat down to talk about these challenges, and why Utah is one of the greatest markets to solve them in.

2020 Vision: J.P. Morgan Chase continues to invest in business-forward Utah The Private Bank joins its Chase partners, doubles down on opportunity in the Beehive State

By Brian Swenson and Eric Smith, J.P. Morgan Private Bank

Destinations - SLC Economy

BRIAN SWENSON Managing Director

ERIC SMITH Executive Director

Managing Director Brian Swenson and Executive Director Eric Smith of J.P. Morgan Private Bank in Salt Lake City co-lead a team of local professionals who provide wealth management advice, strategies and services to successful individuals, family off ices, foundations and endowments throughout the region. J.P. Morgan Private Bank has been serving clients in Utah for nearly 20 years and established their local off ice in 2019.

J.P. Morgan Private Bank provides customized financial advice and strategies to help wealthy clients and their families plan, invest, borrow and bank with intent. Leveraging global capabilities in investing, philanthropy, family off ice management, credit, fiduciary services and special advisory services, the Private Bank brings clients’ investments and financial assets together into one comprehensive strategy to help them achieve their goals and secure the legacy they envision.

80

PROMOTION

Forbes in 2019 named Utah the No. 3 Best State for Business1, the state has received a ton of accolades in recent years as a business-friendly state. Why did the Private Bank choose to invest in Utah’s business community?

The Private Bank has been front and center to see the growth across Utah thanks to our long-established partners in our Chase operations, and now we’re proud to be able to call Salt Lake City and Utah our home. After the Private Bank had been working with the Utah community for nearly 20 years, entering this high-growth market for families and businesses with a physical location in early 2019 was a natural next step for us.

Utah’s economic growth comes from various sectors and industries resulting in diversified wealth creation across the country.

In particular, the tech sector is booming here in Utah which is why the state has earned the reputation as one of the most entrepreneurial places in the U.S. Establishing a permanent team here allowed us to participate directly in Utah’s incredible growth story. For business owners in this exciting space, we’re here to amplify that growth and help them successfully navigate the process of starting, scaling, and ultimately selling a business.

With all the opportunity and optimism surrounding Utah, what are your clients most concerned with heading into 2020?

Heading into the New Year and new decade, a lot of our clients have been asking questions around wealth transfer planning—there are questions as complex as “how do we minimize taxes while maintaining control and

1. Forbes Annual Best States for Business—2019 Ranking; www.forbes.com/best-states-for-business/list 2. J.P. Morgan Six mistakes investors should avoid in 2020, Jacob Manoukian, Jan 15, 2020; https://privatebank.jpmorgan.com/gl/en/insights/investing/six-mistakes-investors-should-avoid-in-2020

INVESTING IN SALT LAKE CITY

It is easy to get distracted from what is important — your goals, and defining how your wealth will get you there in 2020, and beyond.

A professional view that cuts through the noise can make all the difference. Visit jpmorgan.com/pb/saltlakecity

who invest in many early-stage private companies can realize significant tax savings on QSBS capital gains up to the greater of (a) $10 million or (b) 10 times your cost basis.

Depending on when the stock was acquired, you may be able to exclude from 50% to 100% of the gain from capital gains tax.

flexibility?” and foundational as “does our estate plan still reflect our intent.” Even with clearly defined goals, transitioning significant wealth is rarely simple. It takes a thoughtful plan, well executed to work– making it paramount to having the right team of advisors managing the process.

Often we’re reviewing estate plan documents to make sure they truly reflect your wishes, and that you’re taking advantage of every opportunity to make it easier and less costly to transfer your wealth. A good estate plan is one that clarifies your wishes and balances them against the practical requirements that need to be met. It also makes the objectives and process clear to your beneficiaries and the professionals you’ve selected to help put the plan into action.

Additionally, we’ve been working with many of our clients on maximizing the Qualified Small Business Stock (QSBS) exclusion. Qualified entrepreneurs and others

We don’t see a recession in 2020. An economic cycle typically moves through four phases: from contraction to recovery, expansion and, finally, slowdown. The consumer continues to be a bright spot for the economy. Despite the risks, we believe the economy will continue to grow in 2020, avoiding recession for an 11th year.

Volatility can frighten investors, and fear might push them to make emotional, rather than logical, decisions about their portfolios like exiting before they’d planned. It’s important to consider your goals and investment time horizon. Short-term market volatility and geopolitical chatter won’t impact your long-term investment goals if your portfolio is positioned correctly.

If you’re investing for the long-term, the best course is staying the course. As the below chart notes, “Six of the 10 best days occurred within two weeks of the 10 worst days.” Fear may push investors out of the market during

In 2019, there were a ton of headlines whiplashing between tariffs, domestic politics to markets swings. Investors may have difficulties interpreting the chatter.

What do you see on the horizon for market risks?

bouts of volatility, but by missing some of the market’s best days, investors can lose out on critical opportunities to grow their portfolios.

We saw part one of a trade deal, but discussions are continuing to drag on. What are the wildcards approaching an election year?

Binary wildcards like the trade war and upcoming election deserve respect and can be important market catalyst, but trade war and the 2020 election are not enough to derail a well thought-out plan. Don’t be distracted by the election, history tells investors not to overreact to presidential candidates.

In 2016, many people thought President Trump’s election would usher in a global recession. Previously, many thought the Obama presidency would crush equity markets. Investors who acted on these fears would have missed returns of over 60% (from Trump’s election), over 150% (from Obama’s second term), and over 400% (from Obama’s first inauguration)2.

This election year a few progressive candidates are vowing to re-make American capitalism. Their campaign rhetoric suggests such potential risks to the markets as higher taxes, a more stringent regulatory environment and policies that work to elevate labor relative to capital.

These risks are real, but we don’t think that the likelihood of the policies being adopted is high enough to derail long-term investment plans. And, while a snapback from Trump to a Democratic president would likely generate volatility, it is unlikely to last. end

Destinations - SLC Economy

PERFORMANCE OF THE S&P 500

Stay invested Even missing just a few good days can dramatically under­ mine portfolio returns.

Performance of a $10,000 investment between January 1, 1997 and December 31, 2017 $45,000

"It's always darkest before dawn" Six of the 10 best days occured within two weeks of the

7.20% $40,000 $35,000

10 worst days.

$30,000

The best day of 2015— August 26—was only 2 days after the worst day—August 24.

$25,000 3.53%

Market timing can be a dangerous habit.

Sometimes, investors think they can outsmart the market; other times, fear or greed push them to make emotional, rather than logical, decisions.

Herd following behaviour during market downturns or bubbles can lead to losses. On the other hand, missing some of the market's best days, investors can lose out on critical opportunities to grow their portfolios, with devastating results.

Importantly, as the slide also notes, "Six of the 10 best days occurred within two weeks of the 10 worst days." This is important because fear may push investors out of the market during bouts of volatility, causing them to miss the rebound on the other side.

$20,000 1.15%

$15,000

­0.91%

$10,000 $5,000

$0 CSQ Q1 2020

Fully invested

Missed 10 best days

Missed 20 best days

Source: J.P. Morgan Asset Management ana­ lysis using data from Morningstar Direct. Re­ turns are based on the S&P 500 Total Return Index, an unmanaged, capitalization­weighted index that measures the performance of 500 large capitalization domestic stocks repre­ senting all major industries. Past performance is not indicative of future returns. An individ­ ual cannot invest directly in an index. Data as of December 31, 2018. Analysis is based on the 2018 J.P. Morgan Guide to Retirement.

Missed 30 best days 81

INVESTING IN SALT LAKE CITY

Salt Lake and Park City real estate trends, with the Managing Partners from The Agency Park City What makes Park City an attractive place to live or own property?

Hands down, the lifestyle! Park City is an amazing place to live or have a second residence. Most people that live here share a common bond of a love for the outdoors and an active lifestyle. Park City is rugged, casual and refined, a great place, especially for people living in the confinement of a large city.

With winter activities of world class skiing, snowboarding, snowmobiling to summertime fun hiking and biking on over 400 miles of maintained trails, golf, fly fishing, and rock climbing. There is something for everyone, and when the day is over there is plenty of nightlife in Park City’s restaurants and bars.

Tell us a little bit about yourselves and how did you come together to form The Agency?

The three of us owned two separate companies, Mike owned Park City Realty Group and Jake and Charlie owned Glenwild Realty. The two companies were both small successful boutiques who shared information with each other over the years about different sectors of our market. Both companies were looking to find a way or vehicle to grow and offer our clients the best services possible. After a year of investigating different software applications and reviewing and meeting with several real estate brokerages both in in Utah and out of state, it was an easy decision once we met with The Agency founders, Mauricio Umansky and Billy Rose. Their personalities gelled with ours and The Agency offered marketing services that were unmatched in or discovery period. In addition, their company philosophy was similar to ours. We do a lot of preparation, surround ourselves with good people, work hard and have fun doing it. Let’s face it, in this business in Park City we meet interesting people from all over the world, we help them find the right neighborhood and home and introduce them to our friends in this great community, it should be fun!

2

3

How is Park City’s real estate market performing?

The market is healthy, with single family home sales within the Park City limits up 15% in number of transaction and the market in 2019 outpaced 2018 with dollar volume up 12%. The Park City basin also saw an increase in sales volume up 10% and a median price increase of 5%. The condominium market shared in the positive growth with condo unit sales in Park City up 33% with total dollar volume up 27%, the median price had modest gains. The largest growth in the Park City basin came from condominium sales located in the Canyons Village area at the base of Park City Mountain Ski Resort. Th is area has been booming with a redesigned resort center providing access to apres’ ski activities.

Sales increased 70% year over year and sales volume nearly tripled.

Destinations - SLC Real Estate 1

What new developments are forthcoming that may be attractive to potential Buyers?

4 82

PROMOTION

That depends on what lifestyle you are looking for, says Charlie Taylor, Managing Partner at The Agency. Park City has several new ski-in developments at varying price points.

Th is includes The Ascent, based in The Canyons Village, which is a new development that offers whole ownership ski-in condos.

They are adjacent to the Frostwood Gondola and attractively priced from the high $300s.

Also, the Stein Eriksen Residences in Deer Valley, start in the mid $3M range. In addition, there will be a new offering at Deer Valley ski area, as they expand the skiable terrain by 900 acres with a new village center and a proposed seven new chairlifts. If it is golf you are looking for, Park City has plenty to offer. The six greater Park City golf clubs have a different atmosphere, course type, and amenity package.

Destinations - SLC Real Estate 5

1. The Agency— Park City partners: Jake Doilney, Charlie Taylor, Mike Mazzone.

4. Resort home, offers privacy and ski Mountain View’s. Promontory Club, Park City

2. New build at Deer Valley Ski area.

5. Contemporary masterpiece in Salt Lake City.

3. Modern craftsman design at Glenwild Golf Club, Park City.

6. Endless views from the living room of this Ski-In Ski out home.

Salt Lake City How has the growth in Salt Lake City ef­ fected real estate pricing?

Several nationwide companies are locating a portion of their operations in Salt Lake City, Goldman Sachs, JP Morgan Chase, Adobe to name a few. As these large companies come in, it brings in more and more jobs and smaller companies tend to follow. Salt Lake also has a booming tech and healthcare industry with companies like Vivint and Intermountain Healthcare. As these companies grow and bring more jobs to the area, real estate prices have seen a steady rise, that said Salt Lake is still an affordable place to live.

have also been consistent with the rise in median price, summer months tend to outpace winter in number of transactions, as families tend to move when children are out of school.

Are there other conveniences that make Salt Lake City a great home?

Salt Lake has so much to offer, beautiful mountain ranges boarder the area to the east and offer year round activities. The shopping, dining, cultural events and arts in downtown are growing every year. City Creek Center has been a great addition to the downtown atmosphere. The new state of the art $3.6B Salt Lake International Airport is scheduled to be completed late this year. end

What is happening in the Salt Lake City market?

6 CSQ Q1 2020

The greater Salt Lake market has seen a consistent growth over the last few years with median prices averaging a 9% increase. Sales

The team at The Agency are here to help you make your transition, or second home purchase, please give us a call to discuss Park City and Salt Lake City.

83

INVESTING IN SALT LAKE CITY

Tech start-up Wooly talks the future of commerce in Salt Lake City Commerce is ripe for disruption.

People have been turning to one another for help deciding what to buy since the beginning of commerce. Inspiration and advice from friends and family is recognized as the primary factor behind 20%–50% of all purchasing decisions, and studies show that consumers rely on word of mouth 2x–10x more than paid media.

Despite the recognized value of word of mouth marketing, less than one (1) percent of a typical marketing budget is allocated to support the buying conversations between two people. Unfortunately, the marketing and technology that powers commerce, has yet to enable brands to empower and measure these offl ine consumer interactions. Until now.

The future of commerce lives between the candid conversations between two people who already know and trust one another.

Enter Wooly.

1

Who do you turn to for help deciding what to buy?

Th ink about it…

Who did you consult with the last time you made a big purchase? Was it a Kardashian, or Badgalriri, or even Logan Paul? Probably not.

For decades celebrity endorsements have dominated mainstream advertising. However, these endorsements haven’t always panned out. In 1982, we saw O.J. Simpson claiming he rented cars through Hertz. Needless to say, that went sour. In 2001, Britney Spears landed an $8 million deal with Pepsi, only later to part ways because she admitted she was more of a Coca-Cola girl. In 2012, Oprah sent a tweet to her 14.8 million fans promoting the Microsoft Surface from her iPad. In 2015, Kia and LeBron James had to dispute whether the current king of basketball does, indeed, drive a Kia.

Unsurprisingly, these failed endorsements have made consumers wary about the information they receive in the media.

According to ZenithOptimedia, the average American spends more than 490 minutes a day — nearly 8.5 hours — consuming media, meaning consumers have become bona fide professionals at consuming, fi ltering and cataloging the onslaught of advertisements they see every day. What’s more, only four percent of consumers believe brands act with integrity when advertising.

Instead, you turn to someone you already know. Someone who already has experience with the product or service in question. Your friends, family, co-workers, neighbors, etc— these are the people we actually trust.

Why is that?

Simple. It’s because you trust that person’s opinion and you know their motive is to help you, rather than gain more followers or secure another paid partnership with some brand they’ve never heard of or used before. When those close to you share a personal narrative about a brand or their product experiences, it creates a real and relatable storyline that gives you the confidence needed to make the purchase.

Through c-Commerce, brands can finally tap into the natural buying behavior of all types of customers—because one thing is cer tain: people trust people.

Destinations - SLC Wooly

Customer Commerce is the future

2 84

PROMOTION

According to Nielsen, 92% of consumers believe suggestions from friends and family more than advertising. What’s more—these consumers don’t discriminate against friends and family with small (or non-existent) social followings. The fact is, consumers trust those closest to them because they register high on the trust and credibility scale.

Benton Cutler, Director of Marketing at Blendtec—maker of high quality blenders— understands the impact real-life customers

3

“Since working with Wooly, we’ve built our ambassador program from scratch to more than 100 ambassadors— people who were naturally Blendtec customers. The 2019 numbers just came in and we hit over $100,000 in revenue from our ambassador program alone.”—Benton Cutler, Marketing Director at Blendtec

can have on key business metrics, like revenue. “Once a person uses a Blendtec, they’ll go tell their family and friends, and everyone else about how amazing their new blender is.

Word of mouth marketing is a core part of our business; about 50% of our sales come from our customers sharing their experiences with our product.”

Recognizing customers drive sales is a massive step in the right direction, but if brands want to amplify growth, they need to understand how to empower and enable their customers to share their product experiences and recommendations like never before. Rather than opting into traditional sponsored partnerships, the most forward-thinking brands tap into the people who have real-life experiences with their brand and products: their customers. These brands recognize the real power and influence an authentic customer yields.

Brands like Blendtec are turning their attention to existing customers who own a large portion of catalog, follow them on social media, stay up-to-date with the latest products, subscribe to their newsletter, attend local events, write product reviews, and find alternative ways to interact with the brand. These people are much more than customers or fans: they’re sales-driving advocates, and they’re looking for ways to help build your brand.

“Since working with Wooly, we’ve built our ambassador program from scratch to more than 100 ambassadors—people who were naturally Blendtec customers. The 2019 numbers just came in and we hit over $100,000 in revenue from our ambassador program alone,” says Cutler.

Through conventional commerce, brands like Blendtec would never be able to measure or manage this powerful dynamic called customer commerce (or c-Commerce). Customer commerce is quickly becoming the most valuable form of currency in an adver tisingsaturated world. Now is the time to inspire and empower your most influential customers to spread your message with authenticity and credibility. end 1. Team Wooly 2020 ski day at Brighton resort.

Email: sales@wooly.com nick@wooly.com (CMO)

Destinations - SLC Wooly 2. Blendtec turns to their customers to help sell more products.

3. Amer Sports runs a global program with thousands of ambassadors.

4. #LunchWithWooly at the Wooly HQ on January 16.

HQ Address: 2701 N. Thanksgiving Way, Suite 100, Lehi Utah 84043 Number of employees: 20–50 2019 Growth: 329% YoY

Wooly is delivering customer commerce Since our inception, Wooly has helped brands connect with their customers in a more human way. We believe that brands can—and should— know their customers better, create real relationships with them, and empower them to act as authentic advocates. For years we’ve given brands the tools they need to identify, activate, and manage a community of brand advocates.

Over time, we’ve enhanced our platform to better help brands build meaningful relationships with their customers, empower their customers through campaigns, and measure the impact of word of mouth. Our clients are growing, our platform is expanding, and our vision for the future is becoming a reality.

We’re just getting started.

2020 will be the year c-Commerce emerges as a major component of marketing and commerce. As we push forward, our focus is delivering c-Commerce to all types of brands and consumers. The Wooly team is building the most comprehensive c-Commerce platform—and we’re excited to help you give your customers the experience they’ve been yearning for since the dawn of commerce.

CSQ Q1 2020

4 85

GOLF GETAWAY

Unwavering Oasis

Now entering its fourth decade of operation, Troon North remains Scottsdale’s premier daily-fee golf club.

By Shaun Tolson

“You can’t miss it,” says Brian Thorne, general manager at Troon North. He’s speaking of Monument Rock, a large granite boulder that stands stoically in the center of the fairway on the third hole of the club’s Monument Course, one of two 18-hole courses designed by Tom Weiskopf and Jay Morrish. From an observational standpoint, Thorne is right. The geological formation, which stands at least 16 feet high and more than 6 feet wide—and which gives the course its name—is an attention-grabber from the tee box.

From a strategic standpoint, however, missing Monument Rock is exactly what golfers hope to accomplish when they hit their tee shots.

“Your ability with your driver is probably most important,” Thorne says of the skill that must be sharpest when players visit the club—not just when they reach the Monument Course’s third hole, but on all of the club’s par 4s and par 5s, where accuracy off the tee is paramount to success. “If you can find green grass off the tee box, then you’re way ahead of everybody who can’t. That’s the nature of desert golf. If you can keep it on the grass here, you’ll shoot a pretty good score; but it’s a tough course from the tee box because it’s visually

intimidating. It doesn’t look like you have any room to land your ball, but there are ample landing areas if you play a good shot.”

That lesson is one that visitors to the club have learned consistently for three decades. In fact, Troon North celebrates its 30th anniversary this year. As the club enters its fourth decade of operation it holds steadfast to the principles that have allowed it to remain Scottsdale’s premier, daily-fee, public golf destination for so long. “When Dana Garmany founded Troon, it was all around a ‘member-for-a-day’ premise,” Thorne explains. “That’s the flagship for Troon.

It’s something we still use today, and we take it very seriously.”

What constitutes Troon’s member-fora-day experience? It starts with extraordinary playing conditions—impeccably manicured fairways and greens that golfers might otherwise expect to find only at exclusive private clubs. During Troon North’s early years, those conditions were maintained in part by relegating golf cart use only to the courses’ paved pathways. Today, players in golf carts aren’t limited only to those paths—Troon North also manages a small fleet of golf boards—and the club has recently renovated all of its bent-grass greens.

By itself, that turf provides an exceptional experience since it produces an ideal putting surface; yet Troon North remains one of the area’s only daily-fee golf clubs to feature it, mostly because the club’s location high in the hills is a little cooler, which translates to easier maintenance.

Troon North also offers guests the option of taking a forecaddie. During a three-hour block during the high season (mid-January through May), when daily rates at the club peak at $350, those caddies are mandatory, but their fees (along with range balls and golf cart use) are included in the price. “It’s another level of service that we can offer to our guests,” Thorne says. “We’re so fortunate to have two spectacular courses, and our forecaddies add to the experience.”

Ultimately, that experience varies from player to player and is most often dictated by those players’ previous exposure to target-oriented, desert golf courses. “You’ll talk to guests who have never been out in the desert before who think it’s the hardest golf course they’ve ever played,” Thorne says. “But you’ll talk to other guests who have played all over the place and consider this their favorite course.” troonnorthgolf.com

THE PHOENICIAN

BOULDERS RESORT & SPA SCOTTSDALE

This premier luxury resort has been ranked among the best in the country year after year.

Following a recently completed renovation— the largest in its history—there is something for everyone. You can enjoy the championship golf course, three-level pool, elegant spa, and eight dining venues, including the J&G Steakhouse and the laid-back Mowry & Cotton.

From $509; thephoenician.com

Nestled in the scenic Sonoran Desert, the recently renovated resort offers a quiet and tranquil atmosphere removed from the hustle and bustle of downtown Scottsdale. Combining world-class service, luxury amenities, and great use of the natural landscape to create ideal Southwestern flair, this is the perfect desert getaway for corporate groups, golf trips, and romantic escapes. From $429; theboulders.com

FOUR SEASONS RESORT SCOTTSDALE AT TROON NORTH

Destinations - Golf Getaway

WHERE TO STAY

86

DESTINATIONS

Enjoy renowned Four Seasons amenities and service in casitas tucked seamlessly into the natural desert surroundings. The 210 guestrooms and suites offer one-, two-, and three-bedroom suites for larger groups or families. The property also features 36 holes of championship golf, tennis, a spa, and fabulous fine dining. From $255; fourseasons.com

GOLF GETAWAY

Scottsdale

The top 5 golf courses to play in Scottsdale right now.

With new flights on JSX from Burbank to Scottsdale (more on page 29), a geographically dense terrain of golf courses, and a moderate winter and spring climate, there’s no time like now for golfers to be seduced

by Scottsdale. By Ryan Byers

STADIUM COURSE AT TPC SCOTTSDALE Designers: Tom Weiskopf and Jay Morrish Completed: 1986 Distinguishing characteristics: Impeccable conditions, top-notch service, state-of-the-art clubhouse, spacious practice facility, and most importantly PGA Tour–level golf. The finishing stretch of holes offers multiple high-risk/high-reward scoreable holes,

RAPTOR COURSE AT GRAYHAWK GOLF CLUB Designer: Tom Fazio Completed: 1995 Distinguishing characteristics: The course provides a spectacular panorama overlooking the McDowell Mountains and vistas of the mesmerizing surrounding natural desert. With large undulating fairways, the par-72 course, measuring just over 7,100 yards, will lead you to believe that it will be an easy day with its generous landing areas. Don’t

such as the short, par-5, 15th over-water hole, as well as the drivable, par-4 17th.

Why now: Every year at the beginning of February, the PGA travels to Scottsdale for The Waste Management Phoenix Open, also known as “The Greatest Show on Grass.” The tournament, which is sometimes overshadowed by the wild party that surrounds it, is the highest-attended golf tournament worldwide, with more than 700,000 fans yearly. tpc.com be fooled: The real challenge at Grayhawk comes with your approach shots. The majority of the greens are surrounded by deep, strategically placed bunkers that will call for your best shots if you want to hit the greens in regulation.

Why now: Fazio’s team freshened up his masterpiece a few years ago, and with its impressive conditions and layout it’s no surprise that the NCAA Men’s and Women’s Golf Championships chose Grayhawk for its site from 2020 to 2022. grayhawkgolf.com

Destinations - Golf Getaway MONUMENT COURSE AT TROON NORTH Designer: Tom Weiskopf Completed: 1990 Distinguishing characteristics: Troon North’s signature course is a par-72 track stretching out to 7,039 yards. It winds through dramatic arroyos, massive saguaros, natural washes, and stunning BOULDERS GOLF COURSES Designer: Jay Morrish Completed: 1984 Distinguishing characteristics: The two courses are laid out in a setting that you will not find anywhere else on the globe, winding through massive, multimillion-year-old boulders that sit directly on the THE PHOENICIAN GOLF CLUB Designer: Phil Smith Completed: Redesign completed 2018 Distinguishing characteristics: Managed by Troon Golf, The Phoenician Golf Club has received many top awards. Defined by lush, perfectly manicured fairways and greens, the front nine differs from most desert golf courses as it is more of a traditional, tree-lined course with several water features.

CSQ Q1 2020

boulder formations. Many of the tees are perched well above the wide, perfectly manicured fairways and greens, offering elevation changes throughout the championship 18-hole course.

Why now: The course recently underwent a huge renovation of the bunkers and greens in an effort to reestablish Weiskopf’s original plans.

troonnorthgolf.com

courses as well as perched in jaw-dropping formations in the surrounding Sonoran Desert.

Why now: The Boulders’ newly launched program, called Birdies, Birds, and Beyond, offers a combination of golf instruction and a nature journey to allow you to spot indigenous birds while picking up some golf tips from highly trained PGA pros.

bouldersclub.com

The back-nine holes head up to the foothills and feature dramatic elevation changes and sweeping views of Scottsdale and Phoenix in the background.

With several different tee boxes, the club caters to every level of golfer and truly extends the opportunity to play one of America’s finest resort golf courses.

Why now: A lengthy redesign has just been completed, transforming previously existing fairway corridors to reroute the course and turn the previous 27 holes into a perfectly laid out 18. thephoenician.com 87

THE GETAWAY

Five-star The Ranch at Rock Creek offers a range of traditional winter activities with contemporary comforts.

Los Angeles

The Wild Rocking West

1–3. The property occupies 6,600 acres in Montana, prime for a range of winter pursuits as well as summer activities.

By Kate Donnelly

4. The Ranch carries a traditional Western theme throughout.

5. Accommodati­ ons are a mix of glamping tents and timber­clad cabins.

1

4

Destinations - Getaway LA 2

Situated on a swath of 6,600 acres of remote wilderness and dotted with timber-clad cabins and bespoke glamping tents, The Ranch at Rock Creek, in Philipsburg, Montana, features all the trappings of a rugged Western getaway, but in a luxury setting. In 2010, the 19th century homestead, under the Relais & Châteaux umbrella, became a guest ranch and remains the only five-star property in Big Sky country.

When he was a boy, owner Jim Manley, a NYC-based investment banker, dreamed of owning a ranch, and was a fan of Westerns like Bonanza and The Magnificent Seven. He told his father, “I’m going to get a horse, and a gun, and a ranch.” Over time, Manley’s checklist became even more specific: a low-altitude ranch with alpine beauty, a river running through it, and a nearby Old West town and ski resort. He also wanted to make sure there were grizzly bears, paved highways nearby, and no poisonous snakes. And, in 2007, he finally found his ranch.

Today, the 29-room sprawl—from onebedroom suites to five-bedroom log homes— claims buttery chocolate and crimson interiors, nostalgic plaids, Navajo rugs, frontier-style antiques, and freestanding bathtubs. Rustic 88

DESTINATIONS

3

5

charms beckon guests to unplug, and there’s At night, gather around a crackling fire, with plenty of adventure on tap. Guests gather at hot chocolate or seasonal craft cocktails, or the reconstructed Rod & Gun Club for the venture to the Silver Dollar Saloon for billiards, property’s famed fly-fishing, magically set on bowling, and karaoke. The Buckle Barn is the the four miles of Rock Creek’s winding, trout- spot for live music and barn dances. And, while filled waters. You’ll also find horseback riding your ranch wardrobe will most likely include with well-stocked stables (a handsome brood jeans, flannels, and fleeces, the ranch also stocks loaners from waders to cowboy boots. of 75) and 6,600 acres to explore.

“The Ranch should be a place where people In winter, guests can venture to the nearby Discovery Ski Area for downhill skiing; can become kids again and share that expegear, transportation, and a gourmet lunch rience with friends and family,” Manley says. are included. Meanwhile, back at the ranch, “I think we’ve accomplished that.”

From $1,800, all inclusive; theranchatrock you’ll find a slew of activities—snowshoeing, cross-country skiing, ice skating, snowmobiles, -creek.com and a horse-drawn sleigh. By summer, gentler weather ushers in idle days of bird-watching, Take home the look: paintball, a ropes course, 3-D archery, biking, A well-curated mercantile lets you stock up on and hiking. There’s even an authentic rodeo. branded ranch gear, Patagonia fleeces, Stetson And, for those who like pampering, the cozy hats, and Pendleton blankets.

Granite Spa lets you soak in a cedar sauna or indulge in a handcrafted sage scrub or hot Getting there: For a winter sojourn, connecting flights on Delstone massage.

Come mealtime, hearty multicourse, ta from LAX to Salt Lake City (SLC) arrive into wood-fired dinners from chef Josh Drage lean Missoula (MSO), followed by a 1.5-hour drive on seasonal fare for cowboy-style breakfasts, to Philipsburg. Private planes land at MSO or Montana elk rib-eye, and grass-fed burgers. Anaconda, a 45-minte drive. Helicopter travel The ranch also stocks a highly touted wine list. to and from The Ranch can also be arranged.

THE GETAWAY

New York

Small Setback, Big Improvement Flying over the British Virgin Islands—the collection of more than 60 islands just east of Puerto Rico—it’s immediately clear that this region is not like other parts of the Caribbean.

Its four main islands, Tortola, Virgin Gorda, Anegada, and Jost Van Dyke, sprout up in jagged shapes, while the rest of the islands in the archipelago surround them in clusters, often just a stone’s throw away.

The largest island, Tortola, has a population of only 35,000, and 16 of the country’s islands are completely uninhabited. Indeed, this low-key sanctuary has been a secluded retreat for decades. Philanthropist and conservationist Laurence Rockefeller first established Little Dix Bay on the 8.5-square-mile island of Virgin Gorda in 1964 as a luxury retreat nestled within a pristine environment. And in the decades since, the concept of the resort has not changed much, even when it became a Rosewood property in 1993. When Hurricane Irma hit in September 2017, the property was ravaged.

But after an extensive renovation by OBMI architects and acclaimed interior design firm Meyer Davis, the resort has reclaimed its place as one of the world’s most captivating getaways, receiving guests once again this last January.

“When resorts rebuild after something like this, they often come back bigger. We actually came back smaller,” says Andreas Pade, the property’s managing director, pointing to how the inventory went from 95 to 80 guest rooms. “In downsizing, we created new suite inventory, with one-bedroom pool suites and two-bedroom suites right on the beach. We didn’t just rebuild but enhance. There is a notion that something terrible happened, but you have to rebuild, and in knowing that, we were conscious about coming back better.”

Environment and sustainability were at the forefront of the renovation. The property added a farm in order to source more ingredients locally. “There’s been a resurgence in farming here. With few jobs available after the devastation, we wanted to do something to support the small farmers,” says Pade.

“Also, sustainability is spoken about, but often there is a financial burden. We felt strongly that people should become more aware about it, so we eliminated single-use plastics, added water-treatment facilities, and have been conscious of our footprint.”

While nightlife and luxury shopping are scarce in the BVI, the area is known for its rugged natural beauty, all of which can be explored directly from Little Dix Bay. “We’ve had the same dive operator located on our dock for 20 years. You can go out on a small

Little Dix Bay, the British Virgin Islands’ most beloved property, shines again. By Samantha Brooks

6. Little Dix Bay is set on a 500-acre property originally developed by Laurence Rockefeller in 1964.

7. The new Rum Bar was added at the top of the iconic Pavilion.

Destinations - Getaway NY

CSQ Q1 2020

6

boat and visit the small keys, visit the local solar-powered brewery, snorkel, relax in the spa, or hike around the 500-acre property.

Everything you’d want to do in the region can be done easily, directly from our dock or right on property,” he says.

Those resigned to stay on property will not be disappointed. The property’s two iconic restaurants—the Pavilion and the Sugar Mill— have been restored, and they’ve added the Reef House, where fishermen cruise in daily with their fresh catch and the chef writes a new menu each day based on available ingredients from the sea and the onsite garden. Throughout the property, chefs from seven different nationalities create a range of menu items, as well as pop-up food and beverage venues throughout the seasons, assuring guests will never get bored. Additionally, the Rum Room bar overlooks the picturesque bay and features a range of hard-to-find rums. From $1,000 for an ocean view cottage; rosewoodhotels.com

property can arrange a 20-minute boat transfer. Or, keep things simple and charter a sea plane directly through Tropic Ocean Airways.

The planes depart from St. Thomas (which receives direct four-hour flights from New York) and can have you at the dock of Little Dix Bay in less than 15 minutes. The company also flies from San Juan, which is about a 40-minute seaplane flight directly to the property. From about $6,500 for a plane that can accommodate eight passengers; flytropic.com

Getting there:

Flying from New York to the BVI typically takes six hours, with a stopover in San Juan, Puerto Rico. Once landed on Beef Island, the

7 89

THE JOURNEY

Los Angeles

Antidotes for Over-Tourism

Perhaps no one knows better than Angelenos how quickly a mob of restless photographers vying for the perfect shot can ruin a destination—but top resorts around the world are finding solutions. By Bruce Wallin The Mandapa resort in Ubud, Bali, started taking guests to Tukad Cepung in 2018. Hidden from view about an hour’s drive from the property, the shimmering waterfall drops from the jungle floor into a deep cavern lit by streams of sunlight and framed by a teardrop-shaped opening in the rock. The pristine setting is a photographer’s dream, which is exactly why it’s no longer so pristine.

In the two years since Mandapa began leading trips to Tukad Cepung, the remote site has gone from the resort’s little secret to an Instagram-fueled tourist attraction lined with restaurants and trinket shops. Whether you blame it on social media or on travelers’ growing desire to discover the next big thing, the phenomenon is not limited to a waterfall in Bali.

Social media and the increasing ease of global travel have conspired to create, or at least exacerbate, what has become the hottest topic in the hospitality industry: over-tourism. From Southern California to cities in Europe and cultural sites in Asia, the world’s top destinations are being trammeled by selfie-snapping travelers. Still, many of the world’s most popular destinations—the jungles and beaches of Bali, the canals of Venice, the savannas of the Serengeti and Maasai Mara—are popular for a reason.

So how do you experience these magical places without feeling like a member of a mob? Traveling off season can be one solution, although several destinations—such as St. Mark’s Square in Venice or the Louvre in Paris—are jam-packed year-round. Another option is to stay above the fray. More and more, top luxury hotels in popular locales are distinguishing themselves by offering not just a haven within a destination, but the means to continue that exclusivity when venturing beyond the property’s grounds.

Mandapa, a Ritz-Carlton Reserve Ubud, Bali

With their former secret spot of Tukad Cepung having been widely discovered, Mandapa’s guides are plotting new insider experiences to keep their guests ahead of the crowds. A tour in the resort’s vintage Volkswagen convertible is an experience in its own right, exploring in

style sites that are both well-known, such as the nearby Gunung Kawi Sebatu water temple, and rarely visited, like the Pura Kehen temple. The resort even has a historic temple on its own property—and a what a property it is. From a citadel-like entrance high on a cliff, Mandapa spills down a verdant valley toward a winding stretch of the Ayung River outside the cultural capital of Ubud. Guest pavilions arranged in the manner of a Balinese village border the riverbank on one side and the resort’s working rice paddy on the other. A waterfront spa and one of the best restaurants in Bali add to the luxurious environment. For a similarly distinct experience outside the resort—and a guaranteed spot above the fray—book Mandapa’s Royal Picnic Expedition, a helicopter tour highlighted by a gourmet meal on an isolated cliff top looking out to Mount Agung and the Lombok Strait. From $680; ritzcarlton.com

90

DESTINATIONS

Mandapa, a Ritz-Carlton Reserve

Destinations - Journey Overtourism

Rosewood Mayakoba Riviera Maya, Mexico

Set between Cancun, Playa del Carmen, and, farther south, Tulum, Mayakoba stands out on this overdeveloped stretch for its low density and high quality. With its white-sand beaches, wildlife-filled lagoons, pueblo-style shopping area, and championship golf course, the 620-acre community is a microcosm of the Riviera Maya region’s allure. The just-renovated Rosewood, one of four hotels in the development, stretches from mangrove-lined lagoons to the Caribbean Sea, where a beach club, the adults-only Aquí Me Quedo lounge and restaurant, and a water-sports center keep every member of the family happy. Guests can launch a fishing or snorkeling excursion from the nearby dock, head inland for a private swimming tour of a cenote or take to the air on Rosewood’s Cessna flying tour, soaring above the crowds at the ancient temples of Chichén Itzá. From $965; rosewoodhotels.com

The Gritti Palace, a Luxury Collection Hotel Venice, Italy

Not even acqua alta f loods, cruise-ship crashes, and new laws and fees aimed at controlling tourism can keep crowds away from Venice. And with good reason: The canal-lined city is one of the world’s great treasures, and it’s slowly sinking into the Adriatic, meaning that time may be running out to see it. There’s no better place to do so than The Gritti Palace, a Luxury Collection Hotel, set in the equivalent of pole position on Venice’s Grand Canal. Despite its central

location, the elegantly restored hotel offers a sanctuary from the crowds, with its library-like public spaces filled with art, books, and any number of perfect nooks for a quiet cocktail or tea. The outdoor Riva Lounge, directly on the canal, is the ultimate spot for a drink, but it’s the hotel’s Riva runabout, Il Doge, that facilitates insider experiences throughout the Venetian Lagoon. Private tours on the boat showcase a different side of Venice, with visits to local fishing villages, remote churches, outer islands, and other spots where most tourists never go.

From $635; luxurycollection.com

Destinations - Journey Overtourism Mara Plains Maasai Mara, Kenya

Mara Plains sits on the border of the 370,000acre Maasai Mara National Reserve and within the private 35,000-acre Olare Motorogi Conservancy. The boundary between the reserve and the conservancy is unfenced, meaning that animals travel freely throughout the greater area. Safari vehicles, on the other hand, do not. Only guests of the sixsuite Mara Plains and a few other small lodges have access to Olare Motorogi, creating what is in effect a private safari experience in Africa’s most iconic wildlife destination.

Equally secluded are Mara Plains’ sprawling suites, from which guests can view giraffes, elephants, and any number of other animals meandering along the Ntiakitiak River below.

Guests also enjoy a sense of preserving the local wildlife, as Mara Plains is part of Great Plains Conservation, an activist safari company that spearheads initiatives protecting lions, rhinos, elephants, and more. From $1,000 per person; greatplainsconservation.com CSQ Q1 2020

91

THE JOURNEY

New York

A Great African Adventure

Colorful Cape Town continues to be a hub for art and design, while Rwanda and Madagascar—with an extraordinary volcanobackdropped, gorilla-focused lodge and heavenly, highly sustainable remote-island resort, respectively—are emerging onto the luxury travel scene, compelling visits before they get more widely discovered.

By Kathryn Romeyn

For first-timers wishing to check off some of the continent’s greatest experiences in one go, or nature-loving families ready for the trip of a lifetime, Africa offers a trio of destinations with intimate endangered wildlife encounters, as well as epic art, design, and culinary rendezvous.

In two weeks, it’s possible to see and do it all at an unhurried pace; the Southern Hemisphere’s summer, mid-December to early February, is ideal, as is June to September when Cape Town is chilly, Rwanda is dry, and Madagascar boasts winds perfect for kitesurfing. Pack ensembles for long, wine-focused farm lunches and starlit suppers, majestic hikes, and leisurely island explorations, and you’re set, since Singita supplies your gorilla-trekking gear. This itinerary requires a serious investment, but with a staggering ROI. Culinary and Design Delights in Cape Town

Along with the iconic, gargantuan Table Mountain, windswept white-sand beaches— some penguin studded—botanical gardens, and dramatic peninsulas cement Cape Town’s roots in the serene natural world. But much as it’s beloved by active outdoorsy types, it’s adored by designers, artists, and chefs who draw nonstop inspiration from its diverse landscape. Two brand-new, fine-dining debuts in quaint vino-soaked Franschhoek—Le Chêne by award-winning chef Darren Badenhorst at the billionaire-owned Leeu Estates, and Epice, led by chef Charné Sampson, formerly of La Colombe—are stretching the bounds of culinary imagination. In February 2020, the internationally attended conference Design Indaba celebrates 25 years of pushing forward innovations in African and global design. Outfitter Roar Africa’s focus on the continent’s “other big five”—art, fashion, food, culture, and design— translates to ever-evolving bespoke city tours with exclusive visits to the latest architectural gems, distinctive private homes, and art collectives. At the center of the art conversation is Zeitz Museum of Contemporary Art Africa

(MOCAA), which lives on the first few levels Meet Rwanda’s Mountain Gorillas of the historic grain silo that elevator architect Part of Rwandan President Paul Kagame’s Thomas Heatherwick transformed in 2017.

Upstairs is The Silo, a color-drenched, post-genocide leadership is a monthly com28-room Royal Portfolio hotel with a rooftop munity workday, Umuganda, that guarantees pool that wows the most jaded of travelers. a virtually trash-free landscape across this The views from the T-shaped, infinity-edge beautiful country. In 2017, Kagame doubled structure alone—a 218-foot-high panorama the permit price, to $1,500, to venture into Volencompassing the Atlantic Ocean, Signal Hill, canoes National Park for those in pursuit of Table Mountain, and the V&A Waterfront— a sighting of endangered mountain gorillas. He are enough to make a strong case for a stay, also invited world-class brands into the country. since it’s available to guests only. But every Wilderness Safaris debuted its opulent Bisate bit of interior space is compelling. Each room Lodge in 2017, and One&Only opened Gorilla’s is wholly unique, thanks to owner Liz Biden, Nest in November 2019, while conservation who’s amassed some 300 pieces of art from company Singita’s Kwitonda Lodge debuted emerging and eminent contemporary artists in August 2019 on 178 previously cleared acres across the continent—such as Cyrus Kabiru its working diligently to reforest—guests can and Nandipha Mntambo—with much of it even plant trees during downtime. Dedicated hanging above upholstered headboards and to sustainability and community, 80 percent freestanding bathtubs placed behind faceted of all building materials were sourced locally, windows. An art concierge conducts bespoke including prolific supplies of stone, 800,000 tours of the in-house collection, MOCAA, bricks handmade on-site and fashioned into local galleries, and artist studios. As of 2019, brutalist curvatures, and woven bamboo seaside private residences are also available in ceiling panels—all a pioneering rarity. In the tony Bantry Bay and Clifton, spoiling privacy striking main lodge, these elements imbue an seekers with flawlessly styled choice. From elevated sense of culture and craftsmanship that continues in eight standalone suites. Each $950/night; theroyalportfolio.com invites the imposing volcanoes inside through massive windows framing verdant landscapes, a counterbalance to interiors styled in sunset hues. Indoor and outdoor showers frame monolithic bathtubs in large bathrooms that hold a massage table, incense, and Tibetan singing bowls for spa treatments. At mealtime, mouthwatering, ever-changing meals feature produce from the on-site garden: local Kinigi potato gnocchi one night, a traditional Rwandan feast another, and a smorgasbord of tapas—ginger caramel chicken, a health bowl, watermelon salad, and tomato corn focaccia— the next afternoon. Between the heated plunge pools, outdoor (and indoor) fireplaces, and bar, it’s hard to leave the cozy private confines.

Guests can do as little or as much as they wish, referencing the provided iPads for outings

Destinations - Journey Africa

92

DESTINATIONS

such as golden monkey trekking, colorful market visits, and stick-carving lessons. But there’s no question that the endangered mountain gorillas are the true stars. Just 1,063 exist in the world, some 480 in this national park. Elsewhere in the small country it’s possible to see the big five and chimpanzees, but Volcanoes is gorilla central. Before the appointed morning you’ll be briefed in the educational Conservation Room

by Singita’s staff specialist and then outfitted in the Gear Room with head-to-toe waterproof gear, gloves, pack, and poles. In the morning, after a short drive to begin the lush hike, trekkers may see signs of buffalo or even elephants, but the focus is singular: a gorilla family that each group of eight plus guides is given one hour to enjoy (VIPs and Kagame go with the exuberant, silverback-imitating Francois Bigirimana, whose experience dates to Dian Fossey’s day).

The visit could involve adolescents sliding down trees and playfully beating their chests or a conversation via their language of grunts and groans with a silverback being groomed by one of his harem, a mother nursing her overwhelmingly humanlike, curly headed infant, or openmouth bamboo chomping and thistle slurping. It’s surreal, intimate, and humbling. After a muddy day in the wild with our magnificent distant relatives, Singita staff greets guests with gluhwein and slippers, all the better to ponder the transformative power of a singular experience. From $1,495/person/night; singita.com

Destinations - Journey Africa

GETTING THERE:

Dive, Fly, and Trek in Madagascar

New York to Cape Town: Fly Delta/KLM’s one-stop to Cape Town via Amsterdam (20 hours in all) or book Cathay Pacific’s first class, just updated with wellness in mind to include superfood bowls, coldpressed juices, Riedel wine glasses, 600-thread-count Bamford bedding, and pillowy turndown through Hong Kong (totaling 30 hours of flying).

There is nothing quite so exceptionally beautiful as the private helicopter ride to Time + Tide Miavana, secluded off Madagascar’s northeast coast on the paradisiacal two-mile isle of Nosy Ankao. French explorer, conservationist and Time +Tide partner Jean-Christophe Peyre first discovered its charms 30 years ago and, in conjunction with Time + Tide’s chairman, Thierry Dalais, began a marine algae business, employing islanders in an effort to give them an economic benefit. Climate change and other factors put an end to the business, at which point Dalais conceived Time + Tide Miavana to help ensure long-term sustainability for the region through tourism.

Construction took five years by an overwhelmingly local team, including 95 percent of the island’s 400 villagers, before opening mid-2017. It feels like hovering over the edge of the earth, nothing but virgin coastline and jewel-toned coral reefs below, plus perhaps some sea turtles, humpback whales, and bull sharks hunting tuna. The spectacle of this deluxe eco-resort is rooted in immersion in a magnificently biodiverse landscape, accomplished through not only heli-adventures over the aforementioned aquatic wonders and to many more remote marvels on the mainland—see: golden-crowned sifaka–filled hikes, cave adventures, and treks through geological

Cape Town to Rwanda: Hop aboard South African Airways’ two-hour night flight to Johannesburg and continue flying 3.5 hours to Kigali in time for breakfast, before arriving at Volcanoes National Park.

Rwanda to Madagascar: Fly Ethiopian Airlines through Addis Ababa to Nosy Be, Madagascar (10 hours in all), where you’ll be met by Time + Tide’s unmissable aquamarine-and-white-striped helicopter.

For help: Leave everything to luxury tour outfitter Ker & Downey (ker- downeyafrica .com) to ensure the best seats and smoothest connections or private charters.

CSQ Q1 2020

phenomena—but also blue safaris via scuba, snorkel, and boat. You might be out jigging for bluefin when a whale shark swims right up, or kitesurfing and spy a ray gliding beneath. Exotic birds, geckos, and lizards seem to line the path into the forest to track down the translocated crowned lemurs brought to this island from a high-poaching region as part of an ongoing conservation project that is working to move a handful more this year. Of course, it’s not all adrenaline-fueled and wildlife-focused fun. Fourteen sprawling beach villas that embody indoor-outdoor living adhere to a breezy palette combining sea and sky that seems to urge relaxation with abundant inviting places to lounge, not to mention plentiful beverages and bites by the brand-new chef on a mission to introduce ever-more-sustainable suppliers and ingredients.

Other options: Take a 4x4 to the inactive lighthouse for a sunset toast (en route, stop by the authentic, modest village for a quick ball game or chat in French with the smiling kids), cruise to a deserted white sand–fringed island for a five-star picnic, or dine inside the Cabinet des Curiosities, a lofty Malagasy structure holding museum-worthy fascinations ranging from amulets and elephant bird skeletons to model ships and battle paraphernalia. This isn’t just another pretty island, it’s a spellbinding place like no other. From $2,900/person/night; timeandtideafrica.com 93

C-Suite Advisors

ACCOUNTING Business Consulting

96

CYBERSECURITY OF THE RICH AND FAMOUS HOWARD GROBSTEIN Founding Partner Grobstein Teeple, LLP

FINANCE Investment Banking

CSQ’s C-Suite Advisors™ form an invite-only community of the most sought-after, trusted advisors and serve as a resource

Advisory - TOC

to qualified thought leadership,

providing insights from the same individuals who council the most successful C-Suite executives and entrepreneurs in the world.

Want more thought leadership?

98

FOOD AND BEVERAGE BRANDS ADOPT D2C TO COMPETE AND THRIVE

JIM FREEDMAN AND MICHAEL SECCURO JF: Founding Partner and Chairman MS: Managing Director and Head of Food, Beverage, and Agriculture Intrepid Investment Bankers FINANCE Wealth Management

Visit csq.com/advisors to access our library of content, including invaluable articles and op-eds from our community of Advisors, who are experts in accounting, consulting, finance, health and wellness, insurance, law, marketing, and real estate.

94

C-SUITE ADVISORY

100

CHOOSING YOUR INTENTION TO INFLUENCE YOUR BEHAVIOR RYAN BRISTOL Managing Director and Banker JP Morgan Private Bank

FINANCE Wealth Management

LEGAL Family Law

102

108

NAVIGATING THE CONFLICTED AND EMOTIONAL STAGES OF DIVORCE THROUGH THOUGHTFUL PLANNING

I’D BE ‘THE MAN’ LISA HELFEND MEYER

ROBERT DALIE

Founding Partner MOLM

Executive Director, Investment The Summa Group of Oppenheimer & Co. Inc

LEGAL Probate Litigation

HEALTH & WELLNESS Medicine

Advisory - TOC

DON’T SEE YOUR ADVISOR? NOMINATE THEM TODAY AT CSQ.COM/APPLICATION

CSQ Q1 2020

104

110

THE DIGITAL DOCTOR’S OFFICE

TAKE CARE TO LEARN THE CHANGING RULES FOR HIRING AND PAYING ELDER CAREGIVERS

RAM DANDILLAYA, MD

SCOTT RAHN AND DAVID GRECO

Co-Founder Atelier Health

SR: Managing Partner, RMO, LLP DG: Attorney, RMO LLP

INSURANCE Life & Health

LEGAL Intellectual Property

106

112

ARE THE GOLDEN YEARS A MYTH?

BRANDING AND INNOVATION IN THE CANNABIS INDUSTRY

MARTIN LEVY, CLU/RHU

STEVE C. SEREBOFF AND MARINA LANG

Founder & President CorpStrat Inc.

SC: Partner, SoCal IP Law Group LLP ML: Partner, SoCal IP Law Group LLP

95

INDUSTRY ACCOUNTING

SPECIALTY BUSINESS CONSULTING

CYBERSECURITY OF THE RICH AND FAMOUS How to Protect Yourself from High-Profile Cyberattacks.

HOWARD GROBSTEIN Founding Partner Grobstein Teeple LLP Los Angeles

Advisory - Grobstein

Howard Grobstein is co-founder and managing partner of Grobstein Teeple LLP (GT). He is a certified public accountant, certified fraud examiner, and certified in financial forensics by the AICPA. He specializes in all matters of business consulting, including business valuation, business management, back office accounting, and fractional CFO services, as well as transactions and due diligence.

He graduated from California State University, Northridge with a bachelor’s degree in business administration, with an emphasis in accounting.

The only thing Grobstein loves more than GT (affectionately referred to as his third child) is his family. He and his wife, Sheba, have two children, Aaron and Reisa. The family loves to travel and experience places and foods from around the world. As a devout car enthusiast, you can find Grobstein enjoying his classic cars, which include a 1955 Chevy Bel Air, a 1968 Chevy Chevelle, and a 1970 Ford F250 pickup truck.

PHONE 818/532.1020 EMAIL hgrobstein@gtllp.com WEBSITE gtllp.com ADDRESS 6300 Canoga Avenue Suite 1500W Woodland Hills, CA 91367

96

C-SUITE ADVISORY

On November 18, 2018, Amazon founder Jeff Bezos received a WhatsApp message on his iPhone X. The message was from Mohammad Bin Salman, the Crown Prince of Saudi Arabia, with whom Bezos had exchanged numbers months before. What Bezos did not know was that the message contained malware, which transmitted his private data back to the hackers who sent the message.

Bezos was targeted because his news publication, The Washington Post, published work by murdered Saudi Arabian political dissident Jamal Khashoggi. Saudi-backed hackers hoped to use his personal data to gain influence over Bezos in retaliation.

The implication of this is troubling for highprofile VIPs: If Jeff Bezos, the richest individual in the world, can be hacked, you can be, too.

The average cybercrime breach can cost the victim $4M, including legal representation, remediation, and loss of reputation among potential clients or customers. By 2021, global cybercrime will have cost businesses and individuals $6T. At the time of publication, 90 percent of all companies are currently breached.

Even at the highest level, hacks can happen. While many VIPs employ security teams to keep their or their business data safe, it’s important to remember: If you are a government official, celebrity, high-profi le CEO, activist, or public figure, you are always a target.

What Do Hackers Want?

Hackers who target high-level individuals are often after your personal and fi nancial data.

Beyond putting your finances at risk, this personal information can also be used to blackmail or extort you for money.

And the threat doesn’t stop there. Sophisticated criminals can use personal data to scam family and business partners using your accounts and information. Most seriously, these hackers can use your accounts to commit crimes that leave a trail of evidence leading back to you.

In the case of Jeff Bezos, experts agree that the Pegasus software used to target him is even more insidious than it seems. Many times, individuals who are targeted by this and similar software don’t even need to answer a call or text containing this malware for their phones to be compromised. Similarly, there are many aspects of daily life at the VIP level that can easily make individuals vulnerable to cyberattacks.

Social Media

In recent years, engagement with social media has become absolutely necessary for entertainers, athletes, and public figures. Some dangers of social media posts are more obvious, like posting your location publicly. If you post locations in real time, it can give potential thieves

QUOTE:

CYBERCRIME CAN HAPPEN TO ANYONE, BUT THE HIGHER YOUR NET WORTH, THE LARGER A TARGET YOU ARE.

knowledge about your whereabouts. (Famously, Kim Kardashian was robbed at gunpoint in 2016 in her Paris hotel room after sharing her location on social media.)

But what many social media users may not realize is that innocuous posts can give criminals details about you and your life. Hackers can use these details to impersonate you as part of a scam, or to speculate as to what valuable data they may be able to find in your private email or other accounts. To protect yourself, it may be a good idea to discuss your social media strategy with a cybersecurity consultant.

Travel

When travelling for business trips, awards shows, or even vacations, security risks are everywhere. Unsecured networks, like hotel, airport, or coffee shop Wi-Fi networks, should never be used. Instead, use a secured network or the hot spot on your smartphone.

Some public Wi-Fi networks can even be fake, which hackers can use to download information from your phone. You should also avoid syncing your phone with a rental car, as hackers can plant malware in the car’s systems to steal data. Keep your data secure by avoiding public chargers like those in hotel rooms or at charging stations at airports. These are easy, often overlooked ways for criminals to steal your information.

the company that is calling you is legitimate, is to speak to a live employee.

It’s important to remember that government agencies such as the IRS will never ask for personal information or demand payment over the phone. They will normally communicate via letter and will not ask for your Social Security number.

Easy Ways to Secure Your Data

If you haven’t already, consider hiring a cybersecurity expert to evaluate your risks and draft a security plan. Only give out your direct phone number to family and necessary personnel, like direct employees. It may also be a good idea to conduct sensitive business on a separate device from your normal phone.

In this day and age, we use dozens of secure accounts in our daily life. Each account you use should have a strong, secure, and unique password. These passwords should have 12 or more characters and utilize upper-case characters, lower-case characters, numbers, and special characters such as exclamation points or ampersands. Whenever possible, set up two-factor authentication for your accounts. This will send an activation code to your phone via call or text, so your account can verify it really is you logging in.

If you are concerned about remembering your passwords, do not write them down in a Word document or on a sticky note. Use a safe password manager, such as 1Password, LastPass, or KeePass.

Keep all software up to date. Updates for operating systems or apps often include tighter cybersecurity measures. It’s also important to install a reputable antivirus software and anti-malware software on any computers that have important data. Never connect unknown USB flash drives to your computer, and make sure you maintain computer backups offsite.

Cybercrime can happen to anyone, but the higher your net worth, the larger a target you are. By taking steps to protect your personal data and being aware of common hacking tactics, you can protect yourself from cyberattack. end

Advisory - Grobstein Email and Text

In recent years it has become increasingly simple for potential hackers to impersonate email accounts and cell phone numbers. a popular method is for criminals to pose as an employee, financial advisor, friend, or even family member to get approval for a financial transaction.

Always take the time to verify these requests, either by calling the person requesting the monetary transfer directly or speaking with them face-to-face.

Phishing emails are also incredibly popular. These emails can often come from accounts that are similar to businesses, newsletters, or your own contacts. To guard against these, never click on a link or open an attachment from an unexpected email you do not recognize.

Banking and Finance

Criminals can call you using spoofed numbers to impersonate your bank, business management company, or even the IRS. Whenever you receive a call asking for personal data, always hang up and call back the number on that institution’s website. The best way to verify that

CSQ Q1 2020

97

INDUSTRY FINANCE

SPECIALTY INVESTMENT BANKING

FOOD AND BEVERAGE BRANDS ADOPT D2C TO COMPETE AND THRIVE JIM FREEDMAN Founding Partner and Chairman Intrepid Investment Bankers Los Angeles, CA

Today’s digitally connected consumers’ shopping preferences have changed the way companies sell and market their products. The Food & Beverage industry has experienced a recent surge of startups establishing their brands using eCommerce to sell their products direct-to-consumer (D2C). Some of us remember ordering or receiving food products from a catalog or direct mail based D2C pioneers such as Omaha Steaks, Honey Baked Ham, or Hickory Farms. Since these early pioneers, the volume, importance, and sophistication of the next generation of D2C brands have grown exponentially enabled by new technologies, marketplaces, and business models.

The market has evolved from basic online marketplace models such as Amazon selling third-party products to enablement platforms such as Shopify, which made it possible for brands to make and sell their wares online D2C, and more recently, to today’s sophisticated brands that focus on disrupting vertical product lines (e.g., beauty, deodorant, glasses, shoes, etc.). These next-generation brands are building a highly engaged customer following without putting their products on retail shelves, eliminating the need for middlemen and extra costs associated with brick-andmotor locations.

Forty-nine percent of U.S. consumers shop for Consumer Packaged Goods (CPG) products online and by 2022, the average U.S. household will spend $850 per year online for food and beverages1. We’ve seen this trend toward increased online purchases in industries like apparel, accessories, and beauty & personal care, which ultimately led to high-profi le acquisition by large CPG players such as P&G’s acquisition of Intrepid’s client,

deodorant brand Native, in 2017, and acquisitions in shaving by Unilever in 2016 (Dollar Shave Club), and in 2019 by Edgewell (Harrys).

2019 saw the D2C model achieve greater traction in food and beverage. Fast-growing, innovative D2C food and beverage brands attacking this opportunity are delivering improved products and customer experiences to compete with big corporations across multiple different product categories. Traditional food and beverage manufacturers and retailers have made substantial efforts to go digital, but most have been slow to optimize these channels primarily due to a lack of cohesion with their brick-and-motor operations. Additional factors hampering traditional players include legacy brands that don’t resonate with the D2C consumer and younger generations with authenticity, further corporate organizations lack a nimbleness and responsiveness to exploit this rapidly changing environment.

Th is disruption has allowed room for a new breed of D2C to be born online. These companies take a grassroots approach to social media marketing using viral campaigns and micro-influencers to create engaged followers who can be leveraged to compete with much larger companies with multi-million-dollar marketing budgets.

Advisory - Freedman MICHAEL SECCURO Managing Director and Head of Food, Beverage, and Agriculture Intrepid Investment Bankers Los Angeles, CA

Jim Freedman is a founding partner and chairman of Intrepid Investment Bankers, a specialty investment bank that provides M&A, capital raising, and strategic advisory services to middle-market companies across various industry sectors.

He has more than 35 years of investment banking and corporate finance experience and is an expert on the financial aspects of corporate strategy.

Michael Seccuro is a managing director and head of Food, Beverage, and Agriculture at Intrepid. His experience includes buy-side and sell-side M&A transactions, credit and debt structuring and origination, as well as public and private equity raises.

He has represented clients across a variety of industry segments, including packaged food and beverage, produce, protein, seafood, agriculture, grocery retail, and food service.

98

C-SUITE ADVISORY

Common Themes of Successful D2C Brands

The D2C delivery model does not work for all product types, such as perishable food items or bulky, low-cost items. Due to shipping considerations, D2C works best for products that are more compact and of higher value. Products are often sold in multi-packs or bundles or are offered as a subscription or auto-ship regular purchase item. Other product form

QUOTE:

BUDDING DIRECT-TO-CONSUMER BRANDS MAINTAIN COMPLETE CONTROL OF THEIR MARKETING STRATEGIES AND GROW FASTER WITH LESS CAPITAL.

PHONE 310/478.9000

tweaking of their R&D with the ability to get instant feedback from customers.

Frozen food disruptor Real Good Foods leverages its more than 500,000 social media followers and heavily engaged D2C customers as an integral part of its product development strategy, enabling the company to bring new products from idea to shelf within months.

Budding digital brands maintain complete control of their marketing strategies, and when paired with the ability to analyze consumer data to recommend products directly to customers, D2C brands have stronger customer connections and brand loyalty. Certain companies are driving increased personalization of products based on the data and customer information which they collect.

Risks to developing a brand online include an insufficient followers base to try products and achieve a level of consumer traction. Traditional retail point of sale provides opportunities for impulse purchases, sampling, and trials that are hard to replicate online, especially for a product that may retail for less than $10.

Aside from selling through a company’s own Website, the D2C landscape includes online marketplaces such as Amazon that provide brands with the consumer demand and logistics needed to establish themselves.

However, having products available through a third-party puts a brand’s vital connection with its customers at risk. Other drawbacks may include additional costs of technology, talent, and marketing. Given the number of eCommerce channels available and the complexity of data, many brands struggle to understand and optimize their digital strategy. Companies often need to hire third-party digital marketing agencies to optimize content, navigation, and load speeds as well as test strategies and analyze customer conversion data.

WEBSITE intrepidib.com EMAIL jfreedman@intrepidib.com mseccuro@intrepidib.com ADDRESS 11755 Wilshire Blvd., 22nd Floor Los Angeles, CA 90025

factors that translate well in a D2C model include frozen foods, which have favorable price/value, weight and shipping characteristics, and powder-based products. Wellness supplement brand Moon Juice began as a local LA-based juice business, and the company’s sales skyrocketed when the product shifted to powder-based products allowing it to reach new audiences.

A common theme of successful D2C brands is an enthusiast or dietary-specific element that attracts devoted followers. Real Good Foods and Cali’Flour Foods grew from communities who have either diabetes or autoimmune diseases seeking bread alternatives.

Another common theme is in products that can leverage detailed education on the benefits of a product or detailed descriptions of formulas based on science or other ingredient specific traits. Several complete nutrition offerings have grown successfully as D2C only brands touting their specific formulations, including Soylent, Organifi, Ka’Chava, and AthleticGreens. Many of these brands start with an influential group of followers with similar interests around the brand, whether that is gamers, developers, triathletes, or CrossFit aficionados.

The changing retail landscape has allowed brands to experiment with more unconventional retail channels through experiential marketing, store-in-store, and pop-up locations. These types of experiences increase customer engagement by promoting social media sharing through “Instagrammable” moments while delivering product education and control of brand communication. Hint (fruit-infused water) opened an experiential store in San Francisco with sampling and an in-house photo booth. Offline channels don’t have to be grocery retail. Partnerships with outlets such as fitness studios or office buildings can be useful outlets for certain products.

Fast-growing D2C brands must consider when and how to make the transition to conventional retail channels, especially as it relates to their long-term goals and potential exit strategy. Large strategic acquirers are interested in buying brands that have proven online success with significant growth potential from bringing them into their retail distribution channels. However, there may be a perceived risk from acquirers that products won’t translate on retail shelves. Perhaps the best way to move into conventional channels is to enter a select number of retail accounts to prove the model before considering a sale. This strategy can provide a good indicator of the brand’s potential and de-risk the transaction from the strategic buyer’s perspective.

As millennials become new parents, new households will drive different solutions. Large strategic food and beverage players have generally been on the sidelines, but we expect acquisitions of D2C brands to accelerate as brands prove their ability to succeed online. end

Advisory - Freedman

D2C Model Risks and Opportunities

Selling D2C avoids the markup and broker cost of going through traditional channels and protects profit margins. Another factor that helps cash-strapped D2C startups grow quickly is the improved working capital dynamics and faster turnaround of accounts receivable when selling directly to consumers. D2C brands avoid the costly and slow traditional product launches in favor of real-time evolution and

CSQ Q1 2020

Additional Growth Avenues Are Key to a Brand’s Exit Strategy

The benefits of a purely D2C model begin to diminish as the business reaches a certain scale. Early non-food and beverage D2C success stories such as Casper and Warby Parker selectively opened their own retail stores and companies like Harry’s migrated to having their products sold in traditional retail, most notably Target. D2C food and beverage brands have begun to follow the pattern of other verticals with an increased presence in offline channels. Soylent, Real Good Foods, and Perky Jerky all represent challenger brands that enjoy omnichannel success.

1

FMI and Nielson

Investment banking services offered

by Intrepid Investment Bankers LLC, member FINRA/SIPC, and subsidiary of MUFG Union Bank, N.A.: • Are NOT deposits or other obligations of, or guaranteed by, the Bank or any Bank affiliate • Are NOT insured by the FDIC or by any other federal government agency • Are subject to investment risks, including possible loss of the principal amount invested.

99

INDUSTRY FINANCE

SPECIALTY WEALTH MANAGEMENT

CHOOSING YOUR INTENTION TO INFLUENCE YOUR BEHAVIOR How to become the best architect of your financial life.

RYAN BRISTOL Managing Director and Banker J.P. Morgan Los Angeles, CA

Ryan Bristol is a managing director and banker at J.P. Morgan Private Bank’s Westlake Village office.

He has more than 19 years of experience in the financial industry and is responsible for advising clients on a range of personal wealth matters, including investment management, portfolio construction, asset allocation, tax strategies, credit solutions, estate planning, pre-transaction planning, and charitable giving. Prior to joining J.P. Morgan, Bristol was a vice president in the private client practice at Bernstein Global Wealth Management. He counseled clients on complex wealth-planning issues such as pre-transaction planning for business owners, multigenerational wealth transfer, philanthropy, and diversification strategies for concentrated wealth. Before Bernstein, he was a regional vice president for Morgan Stanley and a financial analyst for Goldman Sachs.

Bristol is active in the community as a board member of ACG101 and former board member of the American Red Cross in Ventura, the Investment Review Committee for the City of Thousand Oaks, and the Dean’s Advisory Council for the Orfalea College of Business at Cal Poly. He received his MBA from the UCLA Anderson School of Management and his BS from Cal Poly, San Luis Obispo.

Intentionality. We often use that word when reinvestment of any monies distributed (in the we talk about money, and for good reason. most efficient way possible).

We want to be sure that our financial decisions have their intended impact. But being Four Methods to Become the Architect of intentional can feel overwhelming: What does Your Financial Life it mean, exactly? Where do I start?

To answer that question, we draw on 1. Choose your words carefully. Language a concept known as “choice architecture,” the is one of the most powerful tools to predictbrainchild of Nobel Prize–winning behavioral ably change life decisions, including financial economist Richard Thaler. Choice architecture decisions. Humans understand that people can be broadly defined as the designing of choic- have many word choices available to them. es to predictably influence decision-makers. So, they know that the specific words chosen When we act as intentional choice archi- to describe decision-making options reveal tects, we determine what outcomes we want important information. Th ink of a glass that to achieve, and we design our decision-making is half full or half empty. Half full signals openvironments to have the best chance of reach- timism, while half empty is clearly pessimistic. ing those goals.

Or imagine a scenario that has an 80 percent And we can all be architects of our own fi- chance of success versus a 20 percent chance nancial lives to achieve the outcomes we desire. of failure—the meaning is the same in both Th ink of the architect of a building. It’s diffi- descriptions, but the framing changes how we cult to imagine that they would not know what see the odds. a building would be used for before designing To that end, if you are looking to unite it. Being an architect of your financial life is no family members around a particular goal or different. Identifying the desired use of capi- “money mission,” focus on positive language. tal is critical to designing the right strategy The mission should be clearly defi ned, along to get you where you want to go. For example, with the behaviors that strengthen it. Perhaps is the money intended for annual lifestyle con- the mission aims to use fi nancial capital to sumption or for perpetual growth of wealth? support the passions and purposes of family The design, construction, and review of the members. Behaviors to further that mission financial strategy will be entirely different for might include pursuing education or taking lifestyle versus growth capital. Lifestyle cap- jobs that bolster those passions or purposes. ital will need to reliably distribute cash every A different mission—to create a sustainable year (without decumulating too quickly), while family business across multiple future genthe growth capital will focus on the continual erations—would suggest different supporting

Advisory - Bristol

PHONE 805/857.7628 EMAIL ryan.bristol@jpmorgan.com WEBSITE jpmorgan.com/westlakevillage ADDRESS 3960 Thousand Oaks Blvd., Floor 2 Westlake Village, CA 91362

100

C-SUITE ADVISORY

QUOTE:

TO MAKE GOOD BEHAVIORS MORE AUTOMATIC, YOU MIGHT ALSO CONSIDER SETTING UP PRE-SCHEDULED (SAME DAY/DATE) REVIEWS ON A QUARTERLY OR ANNUAL BASIS WITH PROFESSIONAL ADVISORS AND FAMILY. behaviors: the pursuit of education related to the family business, for example, as well as activities that support family unity.

The information expressed is being provided for informational and educational purposes only. It is not intended to provide specific advice or recommendations for any individual. You should carefully consider your needs and objectives before making any decisions. For specific guidance on how this information should be applied to your situation, you should consult your qualified representative. The information provided may inform you of certain products and services offered

by J.P. Morgan’s wealth management businesses, part of JPMorgan Chase & Co. (“JPM”). The views and strategies described in the material may not be suitable for all investors and are subject to risks. This material is confidential and intended for your personal use. It should not be circulated to or used by any other person, or duplicated for non-personal use, without our permission.

JPMorgan Chase Bank, N.A. and its affiliates (collectively “JPMCB”) offer investment products, which may include bank-managed accounts and custody, as part of its trust and fiduciary services. Other investment products and services, such as brokerage and adviso ry accounts, are offered through J.P. Morgan Securities LLC (JPMS), a member of FINRA and SIPC. JPMCB and JPMS are affiliated companies under the common control of JPMorgan Chase & Co.

CSQ Q1 2020

2. Harness the power of inertia. For many human beings, inertia is a powerful force (and one that choice architecture takes very seriously). Doing nothing is not only the path of least resistance, it can also create much less worry that you’ll make the wrong decision compared to doing something. This is especially relevant when it comes to decisions about money.

Ask yourself: If something were to happen to me, what would automatically happen next?

Would my family be set up for success?

Laws in the location where you are domiciled will likely determine what would automatically happen (unless other measures have been put in place). Identify which elements in those default rules are aligned, or not aligned, with your intentions. Increasing alignments through wills and estate plans are pieces of choice architecture that can create peace of mind for you and your family.

To make good behaviors more automatic, you might also consider setting up prescheduled (same day/date) reviews on a quarterly or annual basis with professional advisors and family. Or you might make systematic distributions (to manage lifestyle spending) and investment plans (to avoid missing out on market opportunities). In this way, “doing nothing” can itself be a positive behavior that leads to better financial outcomes.

4. Reduce the number of choices. It’s fascinating how human beings can be attracted to complexity in financial decision-making, even if it leads to bad decisions. But research suggests that, when it comes to financial decision-making, less can definitely be more. (Iyengar, Sheena. “How Much Choice Is Too Much? Determinants of Individual Contributions in 401K Retirement Plans.” In Pension Design and Structure: New Lessons from Behavioral Finance, edited by O. S. Mitchell and S. P. Utkus.

New York: Oxford University Press, 2004.)

Reducing the number of choices can be valuable because we can’t effectively process more than a certain amount of information to make decisions in a given period of time.

So, think about all of the financial decisions you have in front of you. Do you offload decisions to others so that you can give the most important decisions the attention they need?

Is your investment strategy overcomplicated, considering what you’re trying to achieve with your money? Answering these questions can help you streamline and simplify your financial choices.

The four methods we have described— choose your words carefully, harness the power of inertia, make good decision-making easy, and reduce the number of choices—can help you become the architect of your own financial life. None are complicated. As in many human endeavors, simplicity can be a powerful force in financial decision-making. If we acknowledge that we are simply human, with limited time, energy, and cognitive capacity, then we can design our decision-making environments to predictably influence our behaviors to have the best chance of reaching our financial goals. end

Advisory - Bristol 3. Make good decision-making easy. When you make it easy to make good decisions it helps create decision-making frameworks that smooth the way toward what you are trying to accomplish with your money.

Maybe you plan to spend or give away all of your wealth, or maybe you aim to leave a legacy for your heirs. In either case, you need to articulate what amount of cash you should have available to live your life with confidence, and segment that off from the investments you will need to reliably provide for your future lifestyle spending. That’s part of your decision-making framework and removes a key part of what makes decisions difficult: determining what to do first.

Then you can consider some of the decisions at hand. Do I have enough to give to children, other family members, the community?

Am I clear about the purpose of the gift, and do the recipients understand my intent? Next you can proceed to making the more specific decisions, determining, for example, the most efficient timing and structure of your gift.

101

INDUSTRY FINANCE

SPECIALTY WEALTH MANAGEMENT

NAVIGATING THE CONFLICTED AND EMOTIONAL STAGES OF DIVORCE THROUGH THOUGHTFUL PLANNING ROBERT DALIE Managing Director The Summa Group of Oppenheimer & Co., Inc. Los Angeles, CA

How skilled advisors collaborate to bring stability during uncertain times.

Advisory - Dalie In his role at The Summa Group, Robert Dalie oversees wealth-planning capabilities, one of the core pillars on which the group was founded.

Dalie’s specific expertise and experience lend themselves to entrepreneurs, senior executives, fiduciaries, and founders who have recently experienced or are about to experience a life-changing financial event. This proficiency has allowed him to play an integral role within the core advisory teams that deal with pre- and post-liquidity events. He has developed a reputation for specialized work with sudden wealth from inheritance, divorce, stock sales, estate planning, and closely held business sales.

To effectively offer this depth of service and experience, his practice is limited to a select group of individuals and families for maximum impact. Forbes, Barron’s, and Research Magazine have recognized The Summa Group in their annual advisor rankings as a top wealth management team. Dalie has been a central part of The Summa Group since its founding in 2003.

102

C-SUITE ADVISORY

Ask anyone who has been through the painful and emotional trauma of a divorce, and they will tell you that it was one of the more agonizing, disjointed, and conflicted experiences of their lifetime. While there is no silver bullet to make these challenges disappear, retaining a fi nancial advisor who has experience working closely with the client’s key advisors will help alleviate many of the difficult issues and should result in a reasonable outcome.

Wherever you are in the divorce process, it is important to have someone with financial expertise to guide you. A fi nancial planning expert can reduce the time, anxiety, and expense of a divorce by helping explore complex planning issues commonly faced by many high-net-worth couples. There are various types of fi nancial advisors, but a certified divorce financial analyst (CDFA) is particularly familiar with issues such as tax and retirement planning, fi nancial modeling, and budgeting.

The goal of a divorce fi nancial planner is to find common ground, minimize conflict, and

eliminate unnecessary expenses while collaborating with all parties involved. Here are some of the key issues addressed during the process.

Financial Issues of Divorce 1. Real property 2. Financial planning, budgeting, and forecasting 3. Family businesses 4. Pensions and qualified retirement plans 5. Debts and liabilities 6. Maintenance (alimony) 7. Child support and custody 8. Healthcare benefits 9. Investments and life insurance 10. Social security 11. Estate and tax planning 12. Philanthropic continuity While every divorce is unique, the planning process that follows is standard and uniform.

During the initial stages it’s critical to ask

QUOTE:

ONCE ASSETS ARE TRANSFERRED AND A PLAN IS PUT INTO PLACE, AN ONGOING SYSTEM SHOULD BE IMPLEMENTED TO MONITOR AND MAKE ADJUSTMENTS AS LIFE CHANGES.

PHONE 310/446.7501

probing questions and gather as much information as possible. Often this involves getting copies of trusts from an estate lawyer, mortgage statements from the bank, tax returns from the CPA, and investment statements from the wealth advisor. Once the information is obtained and verified it should be categorized by title, cost basis, and tax characteristics. A shortcut often used to obtain this information is finding copies of former refinance applications, tax returns, or (if the divorce has officially started) the financial affidavit already mandated by the court.

Next, it’s critical to create a comprehensive balance sheet listing all current assets and liabilities. Some assets may be worth less than they appear once taxes are taken into account.

Keeping the home may require special considerations: Refinancing is needed, in tandem with retitling, to take a spouse’s name off the mortgage. Owning a home also requires a certain amount of cash flow, thus refinancing may not be feasible in certain cases. If there are children, the parents may want to discuss support obligations as well. How are they going to pay for private school and/or future college expenses? The end game here is to create a planning document that serves as a blueprint for mission-critical decision-making.

A holistic plan should incorporate financial modeling that includes income, expenses, assets, and liabilities. It should account for salary increases, inflation, return on investments, and taxes on maintenance, while incorporating new tax-law changes such as those enacted post-2018. The output should include financial status, cash flow, and net worth to represent a variety of settlement scenarios over a full life span, presented in columnar and graphic formats. We have found that many people can relate to these graphical outputs more easily than reading through the boilerplate spreadsheets that many software packages currently provide.

Now the challenging stage begins: determining the potential long-term effects of the settlement while understanding the potential economic consequences. During this stage it’s imperative to collaborate with the family lawyer, CPA, and other divorce professionals to run multiple scenarios based on the long-term goals and desired outcome of each party. We often talk about “safety-net planning” during this period, which is the concept of creating a baseline plan with enough financial resources to maintain a certain lifestyle. In a sample planning model, one might hypothetically assume a baseline amount of alimony that will

EMAIL robert.dalie@opco.com WEBSITE opco.com ADDRESS 10880 Wilshire Blvd., 24th Floor Los Angeles, CA 90024

continue for the next 15 years, at which point an accumulated investment portfolio would provide the desired income to maintain that lifestyle as a worst-case scenario. Any plan utilizing a safety net should always use conservative and realistic return assumptions. We often see an insurance policy placed on the life of the ex-spouse as a backdoor safety net. Under this scenario, if the ex-spouse dies, the payee is made whole based on a net present-value calculation. If this strategy is utilized, it’s important to monitor the life insurance policy once per year to make sure it’s still in force with the correct beneficiaries listed.

Once a scenario is agreed upon and the divorce decree is finalized, the next step is to split and transfer assets. Designated beneficiary forms need to be updated, a new CPA possibly hired, tax returns filed, and trust documents reviewed by the estate lawyer. For personal assets it’s typically easy with standard title transfers or quit claim deeds. For retirement assets, this often requires a qualified domestic relations order (QDRO). Absent a QDRO, the divorce decree can be final and recorded with wording that allows for division of retirement property. We have seen some legacy divorces come back to haunt one of the parties decades after the fact. Think of a settlement a little bit like a trust—you can make it say or do anything, but it must be written and part of the court record. If it isn’t in there, it doesn’t exist.

I have seen folks agree to changes outside the court-approved agreement only to be burned later when the other party reneged on the unofficial side arrangement. Once assets are transferred and a plan is in place, an ongoing system should be implemented to monitor and make adjustments as life changes.

A skilled financial planner with the proper credentials and experience can intercede at any stage in the divorce process for specific client needs. They can inform and educate, advocate on your behalf, and interface with the family attorney, accountant, business manager, and other professionals. In some instances, the financial planner enters the process after the divorce decree is signed to help manage the asset-transfer process.

Bottom line, when working on divorce cases, a planner should always look for ways to minimize taxes, streamline investments, and put together a plan the client understands.

Ultimately, engaging a skilled advisor with divorce experience will not only provide confidence in the process, but also save potentially significant expense. end

Advisory - Dalie

Robert Dalie is a Financial Advisor with Oppenheimer & Co. Inc. His opinions do not necessarily reflect those of the firm. This article is not and is under no circumstances to be construed as an offer to sell or buy any securities. The information set forth herein has been derived from sources believed to be reliable but is not guaranteed as to accuracy and does not purport to be a complete analysis. Opinions expressed herein are subject to change without notice. Oppenheimer & Co. Inc. Transacts Business on all Principal Exchanges and Member SIPC.

CSQ Q1 2020

103

INDUSTRY HEALTH AND WELLNESS

SPECIALTY MEDICINE

THE DIGITAL DOCTOR’S OFFICE

Using consumer technology to track your personal health.

RAM DANDILLAYA Co-Founder Atelier Health Beverly Hills

Advisory - Dandillaya Ram Dandillaya, MD, FACC, FACP, is co-founder of Atelier Health and has created a network of top board-certified subspecialists dedicated to providing timely and in-depth expertise. The doctors of the Atelier Health network offer decades of combined experience and have held numerous leadership positions at Cedars-Sinai Medical Center. Dr. Dandillaya currently serves as clinical chief in the Department of Cardiology at Cedars-Sinai Medical Center.

PHONE 844/838.3322 WEBSITE healthnucleus.com EMAIL clientservices@healthnucleus.com ADDRESS 4570 Executive Drive San Diego, CA 92121

104

C-SUITE ADVISORY

In this day and age, some of the easiest and most innovative health-tracking tools on the market are, oftentimes. already in your pocket.

With new consumer-facing health technology constantly being developed, refined, and introduced to the devices we use every day, managing your personal health has become easy and intuitive. Even the most widespread medical conditions can be conveniently managed from smartphones.

According to the American Heart Association, nearly half of Americans were affl icted by heart disease in 2016. And heart issues don’t discriminate; according to the Center for Disease Control, heart-related illness is the leading cause of death in the United States, regardless of race or gender. When it comes to heart health, new technology can literally be lifesaving.

Since 2015, Apple Watches have come standard with apps like Fitness Tracker and Activity. Fitness Tracker shows your exercise statistics in real time, including time elapsed, distance traveled, and heartbeat. Activity tracks

your movement and steps throughout the day and prompts you to stand up if you’ve been too sedentary.

State-of-the-art apps are constantly being developed to help consumers monitor their health. In a new feature, the Apple Watch can now monitor its wearer’s heartbeat for signs of atrial fibrillation, or AFib. AFib is a common type of arrhythmia, or irregular heart rhythm, during which the upper chambers of the heart beat out of sync with the lower chambers.

If left untreated, AFib can lead to heart complications, including blood clots, which can cause a stroke, or even heart failure. People who experience AFib or other types of arrhythmia can use the Apple Watch’s function to monitor and track any episodes of irregular heartbeat. They can see how their heart is beating with just a glance at their wrist.

The most important benefit the Apple Watch’s monitoring gives AFib patients is the ability to measure heart activity over a long period of time. Arrhythmia does not always occur during a doctor’s office visit, and without

QUOTE:

STATE-OF-THE-ART APPS ARE CONSTANTLY BEING DEVELOPED TO HELP CONSUMERS MONITOR THEIR HEALTH.

an accurate picture of a patient’s heart trouble, doctors may face challenges in creating the right treatment plan.

Think of your heart like a car. It may be having problems sporadically, but if you take it to the mechanic and the problem isn’t apparent, it’s hard for the mechanic to diagnose and fix it. Having long-term heart rhythm information from the Apple Watch can help you and your doctor formulate a personalized plan to treat your arrhythmia.

Beyond Apple’s proprietary technology, the phone in your pocket also holds the key to tracking other common health issues.

Researchers at the University of Toronto recently tested a new app that uses a smartphone camera to estimate a user’s heart rate.

The process, called transdermal optical imaging, involves taking a selfie video. The smartphone projects light, which reflects red off the hemoglobin proteins travelling through the venous system of the selfie-taker’s face.

A public version of this app, called Anura, is already changing lives. A two-minute selfie video allows Anura to track the blood flow patterns in a human face, something that is normally invisible to the naked eye. The app then provides information about resting heart rate and stress level gleaned from the selfie video.

Anura’s creators hope to eventually extend the app’s capabilities to accurately estimate blood pressure from a selfie video.

Some tech companies are also developing their own user-friendly hardware that integrates with the devices consumers already own.

AliveCor first released a mobile heart rate monitor in 2012. Today, they produce a stateof-the-art mini EKG monitor called a Kardia that pairs with most smartphones. By simply pressing their fingers to the pads of the business card-sized monitor, users can get an accurate EKG in 30 seconds. The results are then displayed on their own smartphone via Kardia’s app.

Kardia’s EKG has sophisticated six-lead monitoring and can detect AFib and other specific types of arrhythmia. Users can also save the EKGs to their smartphone and email them to their doctor with the click of a button.

This portable EKG makes it much easier for heart patients to keep track of their heart health on their own terms. It also enables them to easily present their doctor with documentation of any heart events they experience.

Doctors can spot the warning signs of heart problems earlier and update treatment plans based on the information Kardia provides.

Even doctors are finding that smartphone

technology and new medical devices can help them diagnose their patients.

One such example is medical tech company Butterfly. The company has developed an ultrasound probe with the same name that links directly to the iPhone. The miniature probe attaches to the phone through the lightning port and shows ultrasounds in real time. With just the single Butterfly probe, users can emulate any type of traditional ultrasound transducer, including linear, curved, or phased. The Butterfly effectively does the work of three different probes in one device.

The Butterfly also uses a single silicon chip, which is much more cost-effective than the traditional piezoelectric sensor used for ultrasounds. A hospital ultrasound can cost anywhere from $20,000 to $75,000. With this technology, a single Butterfly ultrasound probe costs less than $2,000.

The mobility and ease of use of the Butterfly probe is life changing. Doctors can get ultrasounds anytime, anywhere. This leads to quicker diagnoses and care in emergency situations. The portability of the Butterfly ultrasound probe also makes it essential in rural areas without properly equipped medical rooms. Butterfly has already made a great difference in impoverished and difficult-to-access communities worldwide, where a doctor can easily scan and diagnose medical issues with just a smartphone connection.

Beyond the realm of existing tech, researchers are already exploring artificial intelligence as a solution to modern medical problems.

Companies like Apple, Google, and IBM are looking to apply deep machine learning and complex smart algorithms in medicine and health. They hope to identify and solve complex medical cases that can be difficult or even impossible to solve via traditional medical routes.

Using artificial intelligence, researchers can import and analyze the data from a patient’s electronic medical records. When run through an intelligent algorithm or pattern recognition program, the data can be processed much more quickly than by human analysis. Using these tools, researchers can quickly find diagnoses and solutions to even the most difficult medical cases.

Strides in technology and global connectivity have given rise to a new age of quick, accurate, and mobile solutions to the world’s most pressing medical problems. These new consumer technologies make it quicker, easier, and more painless to look after your health, no waiting room required. end

Advisory - Dandillaya

CSQ Q1 2020

105

INDUSTRY INSURANCE

SPECIALTY CORPORATE BENEFITS LIFE & HEALTH

ARE THE GOLDEN YEARS A MYTH? Even with careful planning, life in retirement can bring some unintended baggage.

MARTIN LEVY, CLU/RHU Founder & President CorpStrat Woodland Hills, CA

Advisory - Levy Martin Levy, CLU/RHU, is president and founder of CorpStrat Inc., in Woodland Hills, California.

The firm is comprised of professionals in human resources, key man planning, employee benefit design, insurance, and long-term care planning.

The firm is also a leading agency in employee benefits, serving hundreds of companies in Southern California. CorpStrat Inc. is one of the largest insurance brokers in the Greater Los Angeles area.

PHONE 818/377.7260 EMAIL marty@corpstrat.com WEBSITE www.corpstrat.com ADDRESS 21021 Ventura Blvd., Suite 200 Woodland Hills, CA 91364

106

C-SUITE ADVISORY

Getting older is definitely not a cakewalk.

If there is one thing that is true for every living person on this planet, it is that each of us will die. As of this writing, no one has found an alternative to this fact of life.

It is also a given that as our bodies age, every one of us will be more susceptible to developing one or more of the “three Ds”: disease, disability, or dementia. Many individuals who are not even at retirement age have already developed one or more of these conditions.

A large number of seniors are affected by the realities of aging. So, are the “golden years” a myth, or an attainable reality?

The Dream

For many, the ideal retirement dream is to leave their job, qualify for Social Security, begin retirement plans, tap into savings, move to a warmer climate, and live out the rest of their lives in leisurely activities like sitting

QUOTE:

OF THOSE TURNING AGE 65 TODAY, 69 PERCENT WILL EVENTUALLY NEED SOME TYPE OF LONG-TERM CARE SERVICES, AT HOME, IN THEIR COMMUNITY, OR IN A FACILITY.

by the pool, reading, playing golf, partying with others, playing cards, watching TV or streaming video, traveling, cultivating hobbies, and enjoying their grandchildren. This utopian dream of living out their golden years in a state of contentment and happiness is only true for a segment of the population. For others, the realities of aging will get in the way.

Die Too Soon

The Social Security Period Life Table for 2016 (the most recent available) predicts that for men born in the United States, by the year 2016, about 80 percent will still be alive at age 65.

In other words, 20 percent will have died. For women, 88 percent will be alive and 12 percent will have died. At age 70, 27 percent of men will have died, 17 percent of women of this age gone. At age 80, only 51 percent of men will be alive and only 64 percent of women are still with us. By age 85, only 35 percent of men are alive, with 49 percent of women still living.

In spite of the optimism created by technology, and advances in medicine and pharmaceuticals, mortality is still imminent.

The message here is that some of those who are planning for a joyous retirement, that “maybe” time between unemployment and death, may not even make it, or may die with only a few years of enjoying the so-called golden years.

The Transamerica Center for Retirement Studies reports that the median retirement savings for Americans in their 60s is $172,000.

This is generally far too little money to support a successful retirement. (Half of all Americans are above this level and half are below.) The retirement dream of traveling to exotic places, living in expensive retirement communities, and golfing for the remainder of their lives is exactly that: a dream.

Loss of Independence

Nearly 40 percent of people age 65 and older have at least one disability, according to a U.S. Census Bureau survey that covered the period 2008 to 2012. Of those 15.7 million people, two-thirds said they had difficulty walking or climbing stairs. Difficulty with independent living, such as visiting a doctor’s office or shopping, was the second-most cited disability, followed by serious difficulty in hearing, cognitive difficulty, difficulty bathing or dressing, and serious difficulty seeing. Of those turning 65 today, 69 percent will eventually need some type of long-term care services, at home, in their community, or in a facility. Most people don’t have a plan for that either; they become dependent on others.

Advisory - Levy

Long-Term Care

Poor health is a major reason why many older Americans do not experience the retirement dream. Chronic disease often prevents people from participating in any meaningful activities or even leaving their homes. According to the National Council on Aging, approximately 80 percent of older adults have at least one chronic disease, and 77 percent have at least two.

It isn’t just that long-term care can eat up retirement savings and reduce surviving spouses to poverty, it can be detrimental to the family as well. The stress of caregiving over a long period of time leads to depression, development of diseases, and even the early death of the caregiver. Most Americans simply aren’t prepared for the financial obligations associated with aging, and this will force governments, communities, and families to adapt to solve this problem.

Inadequate Income and Lack of Savings

What to Do?

Poor Health

According to the Government Accountabili- The concepts of our retirement golden years ty Office, (an investigative arm of Congress), and planning for longevity are evolving, as we more than half of Americans will have to witness the massive changes occurring with rely solely on Social Security benefits at some technology and society. Planning for retirepoint during their lifetime. The average So- ment, in whatever fashion you see that concial Security retirement benefit in June 2019 cept, and providing for the costs associated was about $1,470 a month, or about $17,640 with extended healthcare, are discussions and a year. This means Social Security for many planning you should begin incorporating now.

Start today with conversations and planrecipients is much less (say around $12,000 a year because they take it at an earlier age). ning with the people you care most about. You The Social Security incomes for a couple might have one life to live,so make the best of it! end be enough to maintain an adequate lifestyle in retirement, but for single individuals or widows, it is likely not enough to provide more *Excerpts from the National than a meager existence.

Care Planning Council

CSQ Q1 2020

107

INDUSTRY LEGAL

SPECIALTY FAMILY LAW

I’D BE ‘THE MAN’

LISA HELFEND MEYER Founding Partner Meyer, Olson, Lowy & Meyers LLP Los Angeles, CA

Lisa Helfend Meyer is managing partner of family law firm Meyer, Olson, Lowy & Meyers. With offices throughout California, the firm’s attorneys work with clients to confront what can be the most difficult and challenging situations in life— painful emotions, possible loss of marital assets, and child custody.

As a result, many clients emerge as stronger individuals, confident about their futures.

PHONE 424/644.0225 EMAIL lhm@molfamlaw.com WEBSITE molfamlaw.com ADDRESS 10100 Santa Monica Blvd, Suite 1425 Los Angeles, CA 90067

108

C-SUITE ADVISORY

Advisory - Meyer When one reaches a certain age in pursuit of their career, friends and family start asking the annoying yet predictable questions: “When are you going to slow down?” and “When do you plan on retiring?”

These questions always make me bristle because I wonder whether men are asked them at the same age. Why should I slow down when I fi rmly believe, and am told by others, that I am at the pinnacle of my career?

Taylor Swift, in her song “The Man,” acknowledged the challenges women face in their careers, whether at the beginning or the end, when she wrote: I’m so sick of running As fast as I can Wondering if I’d get there quicker If I was a man And I’m so sick of them Coming at me again ’Cause if I was a man Then I’d be the man I’d be the man I’d be the man Of course, “the man” is just a figure of speech. I consider my gender to be one of my greatest assets, and I feel the same way about being “a woman of a certain age.”

There is a saying that when it comes to your health you should choose a young doctor, but

when it comes to the law you should choose an experienced and seasoned attorney. I will not comment on the former, but with regard to the law, I strongly agree that a person should always hire an experienced divorce attorney, one who has a solid reputation with judges, knows the other players in town (from the attorneys to the forensic experts, accountants and mental health professionals), and is perfectly at home in the courtroom.

An experienced divorce attorney can take the temperature of the judge and knows when to change tactics. She is comfortable and secure when negotiating deals and is formidable to face at a deposition. She will have the insight needed to predict the outcome of your case and can expertly guide you through the rather difficult process of divorce. What you do not want to be is a test case for a young attorney with very little experience in the law or in life. Remember that young lawyers have spent the majority of their lives in school. They are unlikely to have experienced purchasing a house or negotiating (or even reading) a contract, and they may not yet have experienced a long-term relationship.

When I was a young lawyer trying my fi rst case, my “elderly” client (she was probably in her 50s, but what did I know?) forgot why she was in court. I asked to speak to the judge (the legendary Kenneth Black), who was very kind and helped me get through a difficult party’s testimony.

QUOTE:

I CAUTION CLIENTS WHEN THEY GO TO COURT TO EXPECT THE UNEXPECTED, BUT WHEN THE UNEXPECTED IS THROWN AT YOU, YOU WANT A SEASONED ATTORNEY WHO CAN HANDLE THOSE SITUATIONS WITH GRACE AND EASE.

In a contested adoption case I tried early in my career, I was up against a very seasoned, quite handsome attorney (think Tom Selleck). He represented the husband, who testified against his estranged wife (they were also in the midst of a divorce) as to why she was not physically or psychologically capable of adopting a child. I should have objected to the husband testifying, since spouses hold certain marital privileges, and I could have prevented this damaging testimony from coming into evidence. Due to my inexperience, I failed to make the objection. The seasoned attorney pointed out my mistake to the judge and I was devastated because I believed I had ruined my client’s chances to adopt. On the way back from court I called a colleague and mentor who was kind enough to share his wisdom with me. I followed his advice, and when I made my final argument, I told the judge that I had intentionally allowed all of the evidence in, including the testimony of the estranged husband, because even the most damaging evidence could not change the fact that it was

in the child’s best interest to be adopted by my client. We won, and my client was allowed to adopt the boy as a single parent.

Year after year, these are the experiences that make mature attorneys so valuable. A mature lawyer has also experienced the many obstacles and challenges that life inevitably puts in one’s way. She has learned to survive some of life’s major milestones, such as birth, marriage, divorce, and death. She also has been exposed to almost every conceivable kind of case, from high-conflict custody cases to complex marital dissolutions. I caution clients when they go to court to expect the unexpected, but when the unexpected is thrown at you, you want a seasoned attorney who can handle those situations with grace and ease. As I always say and try to make a habit of doing: Make lemonade out of lemons.

When my clients pay my high hourly rate, they are not just paying for my legal expertise, they are paying for the years of experience under my Gucci belt, my knowledge of the system, and my hard-fought wisdom about

relationships and life. And although what I do can be grueling, it is also very rewarding (and honestly fun) in many ways.

No, I have no plans to hang up my designer suits, or to pass on my 5-inch Louboutin shoes to my daughters-in-law just yet. I love what I do and can honestly say that I have never been more on top of my game. Like Taylor Swift says: If I was a man, I’d be “the man.” end

Advisory - Meyer

YOUR INTELLECTUAL PROPERTY DISPUTES

P AT E N T A S S A S S I N S

RESOLVE IP DISPUTES QUICKLY WITH YOUR BUSINESS GOALS IN MIND INFO@SOCALIP.COM | (805) 230-1350 | SOCALIP.COM

CSQ Q1 2020

109

INDUSTRY LEGAL

SPECIALTY PROBATE AND ESTATE LITIGATION

TAKE CARE TO LEARN THE CHANGING RULES FOR HIRING AND PAYING ELDER CAREGIVERS SCOTT RAHN Managing Partner RMO LLP Los Angeles, CA

California’s strict employment laws pose threats to unsuspecting elders; at the same time, caregivers are being deprived of their rights.

Advisory - Rahn DAVID GRECO Attorney RMO LLP San Diego, CA

A caregiver can make it much easier to care for an elderly loved one—but hiring a caregiver can be trickier than you’d expect.

There are many employment laws to understand, some of which will change in 2020—such as a new ban on arbitration clauses in contracts.

Here’s what you need to know.

An Overview of Caregiver Compensation and Working Conditions

Scott Rahn is the managing partner of probate and estate litigation law firm RMO LLP. He resolves contests, disputes, and litigation related to trusts, estates, and conservatorships, creating a welcome peace of mind for clients. He represents heirs, beneficiaries, trustees, and executors. He uses his experience to develop and implement strategies that swiftly and cost-effectively address the financial issues, fiduciary duties, and emotional complexities underlying trust contests, estates conflicts, and probate litigation.

110

C-SUITE ADVISORY

California employment law is the strictest in the country. It imposes requirements for when and how an employee is compensated, may take a break, or can utilize sick time.

California also imposes serious penalties for employers who violate these laws—including penalties payable to the state as well as employees. A mistake can cost an employer thousands of dollars.

Within that complex web of laws, elder caregivers are subject to some exceptions because of the nature of their work. But those exceptions do not leave the minefield of labor law any less treacherous for the unsuspecting employer—or the unsus-

pecting customer of a caregiving company.

Eldercare refers to the nurses, caregivers, and assistants who help seniors and others who need assistance with basic daily care needs, including bill paying bills, feeding, clothing, washing, and home maintenance.

Live-in caregivers are entitled to 12 consecutive off-duty hours each day except in certain emergency situations. They get three hours of nonconsecutive, off-duty break time during a 12-hour shift. The law also requires that they receive 24 hours off duty after every five days of work, except in certain emergencies.

Non-live-in caregivers are entitled to meal and rest breaks. Their unpaid, 30-minute, off-duty meal break for shifts over five hours must begin before the end of the fi fth hour of work. If the shift exceeds 10 hours, the caregiver gets a second 30-minute, off-duty break.

California mandates that an employee’s pay stub must include an employee ID number or the last four digits of the employee’s Social Security number, the exact number of hours worked, all rates of pay, the pay period, and the payer’s address.

QUOTE:

PHONE 424/320-9444 EMAIL rahns@rmolawyers.com grecod@rmolawyers.com WEBSITE rmolawyers.com ADDRESS 2029 Century Park E #2910 Los Angeles, CA 90067

BECAUSE OF THE INTIMATE NATURE OF THE TIME AND TASKS CAREGIVERS PROVIDE, A COURT MIGHT FIND THE FAMILY OR ELDER TO BE AN EMPLOYER.

Who Is an Employer—and Why Does It Matter?

In California, “employer” has three definitions.

An employer is anyone who: (1) “Suffers or permits” another to perform work, which means anyone who knowingly allows another person to perform work on their behalf; (2) Exercises control over the working conditions of the worker; or (3) Contracts with the worker to create an employment relationship.

If a court determines that a person or entity meets any one of the three definitions, the person or entity is required to comply with the strict laws that California imposes.

For eldercare workers, the second definition causes the most problems. Caregivers provide services that require significant instruction from, and tailoring to, the individual for whom they are caring. Arguably then, definition (2) makes the elder an “employer” under California law.

That is true even though it is counterintuitive, especially considering that many caregivers work for companies that the elders contact to obtain services. To the unsuspecting elder or their family, contacting a caregiving company is no different than calling a company who sends out a plumber. The family would not be an employer of the plumber. But because of the intimate nature of the time and tasks caregivers provide, a court might find the family or elder to be an employer.

As a result, caregivers have begun filing lawsuits against individual elders and their families, in addition to the contracting company. Each case will be different—some families may prevail where others face significant financial liability for unpaid wages or other labor-law violations.

employment contract commenced after Jan. 1, 2020, may not include an arbitration clause as a condition of employment. New employment disputes will proceed through the courts, usually at a higher cost to the defendants.

Families: Protect Yourselves

When contacting a caregiving company to arrange eldercare, families should read the contracts carefully. Ensure that the company agrees that they are the employer of the caregiver. Also have the company confirm that it has workers’ compensation insurance, provides detailed pay stubs to the caregiver, and gives the caregiver a notice regarding their working conditions and rights to breaks and rest periods. Families should also ensure that the caregivers are receiving the breaks to which they are entitled.

Families who are sued by caregivers should immediately contact an attorney with specialization in this area such as RMO, which addresses such issues every day.

Caregivers: Assert Your Rights

Labor laws are enforced by the U.S. Department of Labor, Wage and Hour Division and the California State Labor Commissioner’s Office. However, the vast majority of claims are addressed in the civil courts with the help of labor and employment counsel familiar with eldercare issues.

If you’re a caregiver who has been hired directly by a family, or if you work for a company that isn’t complying with the law, you should quickly contact an attorney to ensure your rights are protected. There are time limitations on when you can file an action, and if you don’t meet them, you won’t be compensated for your work.

Generally, there is no cost to the victim out of pocket, as attorney fees and costs should be paid by the settlement or judgment from the court.

Call RMO today for a consultation. end

Advisory - Rahn

New Laws Make It Harder to Contain the Cost of Legal Disputes

RMO LLP provides personal, cost-effective litigation services to individual and institutional clients. The firm’s attorneys focus on trust, estate, probate, conservatorship, securities, business, and employment disputes. RMO has offices in Los Angeles, Orange County, and San Diego. For more information, visit rmolawyers.com.

CSQ Q1 2020

For many years, employers have utilized arbitration clauses and other limiting language—like limits on “class” or “representative” actions—to contain the cost of legal disputes that arise from labor-law violations.

Arbitration clauses require that any dispute be heard by a privately paid decision-maker rather than through court. The clauses also make arbitrator decisions binding and subject to very limited review by the courts. Arbitration is often seen as faster, more efficient, and cheaper overall for employers, especially because the arbitrators’ decision can be appealed only on limited grounds.

But Assembly Bill 51 mandates that any

111

INDUSTRY LEGAL

SPECIALTY INTELLECTUAL PROPERTY

BRANDING AND INNOVATION IN THE CANNABIS INDUSTRY Intellectual property opportunity and risk.

STEVEN C. SEREBOFF Partner SoCal IP Law Group LLP Westlake Village, CA

Advisory - Sereboff MARINA LANG Partner SoCal IP Law Group LLP Westlake Village, CA

When business, technology, and IP law intersect, Steve Sereboff is an expert, relied on by multibillion-dollar multinationals, medium-sized public firms, private companies, and growth-oriented startups. His practice focuses on how business can best leverage patents, trademarks, trade secrets, and copyrights. Sereboff and his team help clients manage IP risks, litigate, and resolve IP disputes, secure IP rights throughout the world, and get IP deals done. He earned a BSEE from the University of Maryland and a law degree from Boston University.

Ms. Lang practices intellectual property law in Southern California. Because innovation and competition are worldwide, her clients originate from all over the globe. Her opinion is sought after regarding compliance with new data privacy laws, and she lectures in various IP topics at top universities. She graduated at the top of her class at Duke.

112

C-SUITE ADVISORY

More than half of America’s 50 states have legalized marijuana distribution and use to some extent, with a trend of greater and broader legalization and, we hope, sensible regulation. Federal legalization of hemp tracks this trend. The legal and regulatory thicket for cannabis businesses includes intellectual property, too. The past nature of cannabis as a black-market good and its transition to ordinary consumer good presents a lot of business opportunities. It also presents risks. There are no special intellectual property laws for cannabis, but the history and present day of the industry lead to special IP considerations.

Trademarks

There’s plenty of branding space for cannabis.

We have seen old brands being brought into cannabis-related markets, sometimes with the brand owner’s permission and sometimes not.

We have seen a lot of new brands, too, often colliding.

Trademark registration makes a lot of sense for cannabis businesses, especially those with consumer brands. The best registration

is at the federal level, though many states also register trademarks. The US Patent and Trademark Office (USPTO) will not register trademarks for illegal products, though. Selling cannabis across state lines remains illegal, so it’s a bad idea to try to register a trademark as a cannabis brand. On the other hand, thoughtful drafting of a trademark application can avoid government refusal to register.

US trademark applications encompassing cannabis products will be refused unless they are directed to a “lawful use.” The Farm Bill declares as lawful those goods that are derived from “hemp.” Better yet, the bill gives a pretty clear defi nition of hemp. Specifically, hemp consists of goods derived from hemp plants that contain less than 0.3% THC on a dryweight basis.

The 2018 Farm Bill, however, is not a catchall for every hemp-derived good. Depending on the product at issue, other federal laws may come into play, such as the Controlled Substances Act (CSA) and the Federal Food, Drug, and Cosmetic Act (FDCA). Whereas the Farm Bill newly defines the legal uses and

QUOTE:

DON’T TRY TO FEDERALLY REGISTER TRADEMARKS FOR MARIJUANA GOODS, BUT REGISTER THEM FOR SOMETHING ELSE.

PHONE Steven C. Sereboff 805/230-1350 Marina Lang 805/267.2261

definition of hemp, the CSA still defines, gov- the doors of the USPTO are open to cannabis erns, and prohibits the manufacture, sale, and patents. This has led to something of a land distribution of “marijuana.” Experts generally rush by speculators, especially in an effort agree that cannabidiol (CBD) is encompassed to claim expanses of the cannabis landscape within the CSA’s definition of federally prohib- as proprietary. This kind of land rush has ited marijuana. Thus, a trademark application happened many times before and the patent should not try to cover CBD or “cannabis- system has numerous safety valves, many of which were developed to address the dreaded derived” goods.

The FDA retains its authority to regulate patent trolls.

We see plenty of opportunity to patent products containing cannabis or cannabisderived compounds. Most cannabis business- new cannabis strains, whether developed es should consider whether their products are through genetic engineering and protected subject to the FDCA. Trademark applications by utility patents or developed through more in International Class 5, which includes phar- traditional techniques and protected by plant maceuticals, often trigger heightened attention patents. As with trademarks, enforcement of from the FDA. To be sure, FDA interference these rights in the courts remains a challenge, depends largely on how the product is labeled but in time we expect the courts to be more and marketed, and of course, its intended use. receptive. Thus, a patent secured today might Contingent on those considerations, “dietary not be a powerful barrier to competition, but supplements” may now draw FDA attention. during the life of the patent it could.

Even more opportunity lies in patents for Ingredients that are derived from parts of the cannabis plant that do not contain THC or processed cannabis goods such as edibles and CBD may fall outside the agency’s scope and concentrates, and in peripheral markets such thus be legally marketed. Much is left unsaid, as packaging and flower mulchers. However, as and arguably not regulated, in the “legal defi- with other kinds of markets, it’s best to patent the things that competitors will copy. Patentnition” of cannabis products.

At the state level, receptiveness to can- ing your secret process usually has little benefit nabis-related trademarks varies a lot and is and blows the secret: Your competitors learn even more dynamic than at the federal level. from your patent and you might never know If a cannabis business is and will always be that they copied you. Thus, it’s usually much truly local, a state trademark registration can better to patent products rather than manumake sense. Most of the cannabis businesses facturing processes. we have seen have far greater ambitions. Few expect to stay in one state, so federal registra- Cannabis IP Do’s and Don’ts 1. Do register your cannabis trademarks. tion usually makes sense.

Conflicts among cannabis brands have 2. Do be mindful of federal versus state trademark-registration options. become more common and public. The ordinary tests apply: the sound/sight/meaning test 3. Don’t use someone else’s brand, especially if the consumer spaces overlap. to compare two brands, the Sleekcraft factors in California and the Polaroid factors in New 4. Don’t try to federally register trademarks for marijuana goods, but register them for York. Yet judges have shown dramatically varsomething else. ied willingness to help cannabis companies with their trademark claims. Several federal 5. Do patent your new strains, processed cannabis products, and peripherals. judges have refused trademark-infringement claims by cannabis companies, even when 6. Don’t patent secret processes, techniques, or machines. the trademarks were registered. Others have not been bothered that marijuana is illegal 7. Do stay out of court. under federal law or that hemp might be in 8. Don’t be afraid to challenge another’s IP rights, especially if they are weak. end a gray zone. Cannabis companies can be just as stubborn with brands that we see in other markets, though most want to avoid lawsuits and usually seek resolutions that are faster, more predictable, and less expensive.

EMAIL ssereboff@socalip.com mlang@socalip.com WEBSITE socalip.com ADDRESS 310 N. Westlake Blvd. Suite 120 Westlake Village, CA 91362

Advisory - Sereboff

Patents

Though cannabis is a very old plant, we have seen tremendous innovation in strains, uses, and peripheral products. Unlike trademarks,

CSQ Q1 2020

113

C-Suite AdvisorsTM Index ACCOUNTING

FINANCE

Trent Brown Deloitte & Touche LLP trbrown@deloitte.com

Adam Abramowitz Intrepid Investment Bankers aabramowitz@intrepidib.com

Howard Grobstein Grobstein Teeple LLP hgrobstein@gtllp.com

Ed Bagdasarian Intrepid Investment Bankers ebagdasarian@intrepidib.com

Kris Kaufmann BDO USA, LLP kkaufmann@bdo.com

Geoffrey R. Berlin J.P. Morgan Private Bank geoffrey.r.berlin@jpmorgan.com

T’Shaka Lee Deloitte & Touche LLP tshakalee@deloitte.com

Jonathan Bluth Intrepid Investment Bankers jbluth@intrepidib.com

Scott M. Sachs, CPA CohnReznick, LLP scott.sachs@cohnreznick.com

Claudia Bodan Commercial Bank of California cbodan@cbcal.com

CONSULTING

Ryan Bristol J.P.Morgan Private Bank ryan.bristol@jpmorgan.com

Majid Abai Concepts Rise, LLC majid.abai@conceptsrise.com Brian Barry Dale Carnegie brian_barry@dalecarnegie.com Adam Bohn INC Technologies adam@inctech.net Joe Fox Vroozi joe.fox@vroozi.com James Harwood CoAdvantage james@totalhrmanagement.com Aramis Hernandez INC Technologies aramis@inctech.net Kevin S. Parikh Avasant kevin.parikh@avasant.com Andy Popov Avasant andy.popov@avasant.com Deborah Shames Eloqui dshames@eloqui.biz Randall Stone *māz randall.stone@emazexp.com e

Vlad Vaiman, PhD California Lutheran University School of Management vvaiman@callutheran.com Edward C. Wilson-Smythe Avasant edward.wilson-smythe@avasant.com

114

C-SUITE ADVISORY

Robert Dalie The Summa Group of Oppenheimer & Co. Inc. robert.dalie@opco.com Doug DeGroote DeGroote Financial Group doug@degrootefinancial.com Josh Fein Advice Period josh.fein@adviceperiod.com

Brandon Quartararo Intrepid Investment Bankers bquartararo@intrepidib.com Mike Rosenberg Intrepid Investment Bankers mrosenberg@intrepidib.com Larry Schnaid UBS Financial Services larry.schnaid@ubs.com Rich A. Schuette Avalan LLC rich@avalanwealth.com Michael Schwartz Galerie Michael, Inc. art@galeriemichael.com Michael Seccuro Intrepid Investment Bankers mseccuro@intrepidib.com Nerre Shuriah First Citizens Bank nerre.shuriah@firstcitizens.com

Jim Freedman Intrepid Investment Bankers jfreedman@intrepidib.com Michele L. Havens Northern Trust mlf3@ntrs.com

Bradley A. Barros Private Risk Capital bbarros@privateriskcapital.com Robert Di Paolo HUB International rob.dipaolo@hubinternational.com Bryce Eddy Tolman & Wiker Insurance Services beddy@tolmanandwiker.com Martin Levy, CLU/RHU CorpStrat Inc. marty@corpstrat.com Lars Rathje Lockton Companies lrathje@lockton.com Danone Simpson Montage Insurance Solutions danone@montageinsurance.com

Bruce Simon City National Rochdale LLC bruce.simon@cnr.com

Gregory Stephens Tolman and Wiker Insurance Services gstephens@tolmanandwiker.com

Tristan Snyder AGC Partners tsnyder@agcpartners.com

Robyn Welch HUB International robyn.welch@hubinternational.com

Advisory - Index

Jessop Fowler Merrill Corporation jessop.fowler@merrillcorp.com

INSURANCE

Brian Werdesheim Oppenheimer & Co. Inc. brian.werdesheim@opco.com

Scott Zimmerman CorpStrat Inc. scott@corpstrat.com

Dave Wolinksy Palm Tree dwolinksy@palmtreeadvisors.com

LEGAL

Jonathan Zucker Intrepid Investment Bankers jzucker@intrepidib.com

Jennifer Archie Latham & Watkins LLP jennifer.archie@lw.com

HEALTH & WELLNESS

Lawrence M. Braun Sheppard Mullin lbraun@sheppardmullin.com

Alan Hopkins Manchester Financial alan@mfinvest.com

Gregory Albaugh, DO, FACS Coastal Vascular Center cvc@coastalvascularcenter.com

Joseph Calabrese Latham & Watkins LLP joseph.calabrese@lw.com

Shahzad Khan Commercial Bank of California skhan@cbcal.com

Alen N. Cohen, MD, FACS Southern California Sinus Institute dracohen@gmail.com

Will Chuchawat Sheppard, Mullin, Richter & Hampton LLP wchuchawat@sheppardmullin.com

Ram Dandillaya, MD Atelier Health, Co-Founder clientservices@healthnucleus.com

Harry Galstian Direct Tax Relief harry@directtaxrelief.com

Carol A. Polevoi, LMFT, CBS, CPC Counseling Resource Center carolpolevoi@gmail.com

Danielle Gotcher Gotcher Law dhg@gotcherlaw.com

Brennan Spiegel, MD Cedars-Sinai Health System brennan.spiegel@cshs.org

James Gotcher Gotcher Law jkg@gotcherlaw.com

Amir Vokshoor, MD Providence St. John’s Health Center & Institute of Neuro Innovation vokshoor@gmail.com

Marina Lang SoCal IP Law Group LLP mlang@socalip.com

Jeffrey R. Knakal Growth Partners jeff@growthpartners.net Pardis Nasseri Palm Tree pardis@palmtreeadvisors.com Marvin Padilla Intrepid Investment Bankers mpadilla@intrepidib.com Ash Patel Commercial Bank of California apatel@cbcal.com

William Mark Levinson Thompson Coburn LLP mlevinson@thompsoncoburn.com

Zachary M. Turke Sheppard Mullin zturke@sheppardmullin.com

Charlie Ittner Darien Group charlie@dariengroup.com

Jilliene Helman RealtyMogul jilliene@realtymogul.com

Lisa Helfend Meyer Meyer, Olson, Lowy & Meyers LLP lhm@molfamlaw.com

W. Alex Voxman Latham & Watkins LLP alex.voxman@lw.com

Mike Schaffer Echo-Factory michael@echo-factory.com

Jason Hughes Hughes Marino jason@hughesmarino.com

Stacy D. Phillips Blank Rome LLP sdpdissoqueen@blankrome.com

Sander C. Zagzebski Greenspoon Marder LLP sander.zagzebski@gmlaw.com

Jeffrey Stewart Definity First jeffrey.stewart@definityfirst.com

Shay Hughes Hughes Marino shay@hughesmarino.com

Scott Rahn RMO LLP rahns@rmolawyers.com

MARKETING

Michael Terpin SocialRadius michael@socialradius.com

Tucker Hughes Hughes Marino tucker@hughesmarino.com

Peter K. Rosen Latham & Watkins LLP peter.rosen@lw.com

Michael Abraham DefinityFirst michael.abraham@definityfirst.com

Robert B. Yallen InterMedia Advertising ryallen@intermedia-advertising.com

Brian A. Sidman BAS Holdings brian@basholdings.com

Russell F. Sauer, Jr. Latham & Watkins LLP russell.sauer@lw.com

Tony Adam Visible Factors tony@visiblefactors.com

Matthew Zehner Zehner mzehner@zehnergroup.com

Jack Turturici Jr. Equity Advisors jturturici@eahomesales.com

Lisbeth Savill Latham & Watkins LLP lisbeth.savill@lw.com

David Angelo David&Goliath david.angelo@dng.com

REAL ESTATE

Michele Turturici Equity Advisors mturturici@eahomesales.com

Steven C. Sereboff SoCal IP Law Group LLP ssereboff@socalip.com

Erik Huberman Hawke Media erik@hawkemedia.com

Winton Berci Mazirow Commercial Inc. wberci@tenantadvisory.com

Bob Steinberg Latham & Watkins LLP bob.steinberg@lw.com

Jennifer Hurless Go Be Social Media owner@gobesocialmedia.com

Todd Doney CBRE todd.doney@cbre.com

advisory@csq.com

for Elite members who appear in print

Advisory - Index

Updates Martin Levy CLU/RHU, Corporate Strategies

Randall Stone Ә *māz e

Vlad Vaiman PhD, California Lutheran University

Alex Voxman Latham & Watkins LLP

The CorpStrat principal qualified for the Million Dollar Round Table (MDRT) as a life and qualifying member for the 25th consecutive year. MDRT represents the top 1 percent of insurance advisors in the US. CorpStrat was also recognized by Anthem’s ACE Broker Achievement Program.

Ә *māz developed *māz-minutes, a consulting platform scheduled to launch publicly in February 2020, to deliver strategic and creative thinking without the commitment and cost of a traditional agency or consultancy. It will assist in creation of new brands, customer and guest experiences, audience engagement needs, and experiential marketing.

The Accreditation Council for Business Schools and Programs named Vaiman, associate dean of Cal Lutheran’s School of Management, as recipient of its 2019 Teaching Excellence Award for institutions granting bachelor’s and graduate degrees in Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington, and Wyoming.

Voxman represented Honey in connection with its acquisition

by PayPal.

e

e

CSQ Q1 2020

115

THE IMPACT OF GIVING Your gift to Boys & Girls Clubs of Metro Los Angeles directly impacts the life of kids in undeserved neighborhoods in Los Angeles. By expanding STEM programs to areas that don't have them, and by intentionally connecting more kids to the opportunities, together we can increase the level of STEM fluency for all youth.

BGMCLA

Youth who are immersed in science have more advanced fluency than those with fewer touch points.

Our gardening program inspires innovation in creating food recipes with fresh produce, positive environmental behaviors and an increased passion for STEM. The program teaches kids innovative ways of composting fruit and veggie waste from the snacks we provide them.

EVERY GIFT

MATTERS

3

WAYS TO GIVE

(213) 628-3673 bgcmla.org/waystogive Mail to: 800 S. Figueroa Street, Suite 950 Los Angeles, CA 90017

@bgcmla.org

@bgcmla

@bgcmla

www.bgcmla.org

118 Exhibitions and Performances 119 Required Reading and Viewing 120 Social Responsibility 121 Philanthropy 122 Proprietor’s Profile

Culture - Cover Plant-based chef Matthew Kenney is changing how we eat. Find out how on page 122.

CSQ Q1 2020

Culture & Taste

Part 4

117

Now Showing

Some of the most alluring art shows, performances, and museum exhibitions on each coast.

Los Angeles

New York

EXHIBITS AND PERFORMANCES

PAUL MCCARTHY: HEAD SPACE, DRAWINGS 1963-2019 Through May 10 Hammer Museum

Few artists are as outré as Paul McCarthy. Famed for his largerthan-life sculptures that blur the line between reality and fantasy, McCarthy often surprises and disturbs viewers with sexualized portrayals of American pop-culture ranging from Disneyland characters to comic book icons.

While the Los Angeles–based artist has exhibited films, photography, sculptures, and installations around the world for the past five decades, Paul McCarthy:

By Sheean Hanlan

AROUND TOWN L.A. Other Exhibitions of Note This Season

118

CULTURE & TASTE

Through May 10 The Morgan Library & Museum

AROUND TOWN N.Y. Other Exhibitions of Note This Season

Culture - Exhibitions Paolo Ventura: An Invented World Through March 14 Galerie XII

New Images of Man Through March 14 Blum & Poe

Hamilton

March 12–March 29 Hollywood Pantages Theatre

Head Space, Drawings 1963-2019

is the first American exhibition to examine, in depth, the contemporary artist’s drawing practice.

This Westwood show presents nearly 600 of McCarthy’s works on paper, in charcoal, marker, ink, and graphite. Reimagining the Hollywood symbols, soap-opera scenes, and fairytales we hold dear, McCarthy brings into play a variety of materials like ketchup and peanut butter to construct a cacophony of scribbles. These controversial social critiques explore themes such as toxic masculinity, consumerism, and violence, infused with all the candor and vulgarity viewers have come to expect and, in many ways, appreciate, from McCarthy.

JEAN-JACQUES LEQUEU: VISIONARY ARCHITECT

The Hilton Als Series: Lynette Yiadom-Boakye Through May 11 Huntington Art Gallery

Rina Banerjee: Make me a Summary of the World

Through May 31 The Fowler Museum at UCLA

Vanity Fair: Hollywood Calling Through July 26 Annenberg Space for Photography

Although surrealism began in the 1920s, surely Jean-Jacques Lequeu’s drawings of butchered Greco-Roman busts and Giaconda nuns exposing their nipples elevate the 18th-century architect to the ranks of Dalí. Sixty fantastical drawings on loan from the Bibliothèque Nationale de France will be featured in this exhibition.

Finely blended strokes and the careful creation of form with light and shadow demonstrate Lequeu’s exquisite draftsmanship.

Lequeu, whose scientific precision clashed with his French eroticism, worked in black ink, brown and gray wash, red chalk, and watercolor. As the recent modern realism movement competes for attention with the predominant contemporary style, it is intriguing to encounter an Enlightenment artist whose works anticipate both movements. While at the Morgan, visit its decorated rotunda and explore its collection of works by Rembrandt, Rubens, van Gogh, Cézanne, and John Ruskin. The Morgan’s archive of literary manuscripts also includes The Paris Review interview series, which spotlights the lives of famous writers such as Ernest Hemingway, Toni Morrison, and Jack Kerouac.

Nicholas Galanin: Carry a Song / Disrupt an Anthem Through March 28 Peter Blum Gallery

Nick Mauss

Through April 11 303 Gallery

Pat Passlof: The Brush Is the Finger of the Brain

Through April 11 The Milton Resnick and Pat Passlof Foundation

Toots Zynsky

Through April 11 Heller Gallery

Kelly Akashi: Mood Organ Through April 18 Tanya Bonakdar Gallery

Daiga Grantina: What Eats Around Itself Through May 17 New Museum

REQUIRED READING AND VIEWING

Innovative Insights and New Releases

By Sheean Hanlan

Twenty-nine-year-old Emilie Cushman is the founder and CEO of Kira Talent, a leading tech company in the higher education space.

Founded when Cushman was herself a college student, Kira Talent grew out of a desire to help admissions teams identify the students who will succeed in their programs through an application process that goes beyond test scores, GPAs, and essays. Implemented by institutions in over 25 countries, the video-based platform aggregates data on competencies such as leadership potential, motivation, critical thinking, and empathy. Kira Talent has partnered with an impressive list of over 350 university programs globally and in California and New York at such schools as Stanford, USC, UCLA, UC Berkeley, UC Davis, UC San Diego, Pepperdine University, NYU, and Cornell.

Here, Cushman shares the media that inspires her to live, love, and lead better.

Reading

Viewing

I read fun novels and boring business books alike. Some might regard narratives as a waste of time, but I’ve drawn a wealth of inspiration from military books such as Admiral William H. McRaven’s Sea Stories to memoirs and biographies like Michelle Obama’s Becoming and I Am Malala by Malala Yousafzai to even Reese Witherspoon’s book club picks. Novels can take one on an adventure of a lifetime, while business books can offset failure by revealing other people’s mistakes and illustrating the basic principles of founding a company. My top picks for anyone launching a startup are Good to Great, The Lean Startup, and The Innovator’s Dilemma. Don’t even begin until you read these books.

Right now, I am enjoying books that teach me how to solve the most beautiful and complex puzzle of all: people. Optimizing team performance requires a solid understanding of how people think and what makes them react. Your team is the lifeline of your business. Reading a book such as The 5 Love Languages is just as important as reading The Hard Things about Hard Things. Lean In and Brotopia have given me a deeper awareness and insight into the challenges of being a female founder, but T he Happiness Advantage helps me understand why people operate the way they do. Thanks to an Audible.com subscription, reading these books requires minimal effort and makes my 50-minute commute to work insanely productive.

I identif y with strong female characters such as Sandra Bullock as the mom in the movie The Blindside, Reyna James on the TV show Nashville, and Donna Paulsen on the legal drama Suits. Fierce and assertive, these women never hide who they are for one second. As Reese Witherspoon would say, “They are like whiskey in a teacup.” I also love watching Netflix docu-series such as Broken, a series about how we can make our planet more sustainable. I admit to watching my fair share of The Bachelor for relaxation.

Binging reality shows is my meditation.

Culture - Read

CSQ Q1 2020

Digital

While Twitter is too noisy, Instagram is just right. I follow pretty things, such as home decor on One Kings Lane, so I can get inspired for my next room renovation project.

I’m not too big on blogs, but everyday in my inbox, I receive curated Medium articles with titles such as “How I Escaped a Toxic Relationship Despite Wanting to Stay,” “The Problem with Taking Away Children’s Obstacles” or “The 10 Mistakes Smart People Make.” I’m big on The Economist for international news, but I also find scrolling through left- and right-wing news accounts on Instagram to get both sides of the story as efficient.

119

David de Rothschild, founder of The Lost Explorer, wants to help brands save the world.

SOCIAL RESPONSIBILITY

Not-So-Trivial Pursuit

By Samantha Brooks

Perhaps the most striking thing about The Lost Explorer, the five-year-old brand founded by activist, conservationist, and world traveler David de Rothschild, is that the product labeling says it was founded in 2025. “That is to say, it doesn’t really exist yet,” explains de Rothschild, who divides his time mostly between the UK and Los Angeles. “What I wanted to do in establishing the brand was understand the relationship between consumers and conservation and find out if it’s possible for them to co-exist.” As green companies become more mainstream and notions of sustainable consumption come into play, de Rothschild sees a sizable shift in the way companies need to operate and do business. “There’s this idea that a charity can’t be a business and a business can’t be a charity, but what if a business was owned by a cause? That’s been the shift for me, looking at things as a potential Cause Corp.”

With The Lost Explorer, de Rothschild created a sustainable lifestyle company that aims to set an industry blueprint for wellness.

Products have included everything from volcanic face scrub to head-to-toe nourishment oil (all free of synthetic fragrances, parabens, sulfates, and phthalates) and the Another Bag, made from responsibly sourced wood pulp. Profits from each are given to charity—for instance, the sale of each $150 bag plants 20 trees in the Amazon. “We started out wanting to make and sell sustainable products, but the reality is that marketing, sales, and distribution become expensive, and spending on that prevents us from putting the money into other ways that can also have an impact,” he says. “So, we’re pivoting. The next phase is to work with businesses to have them rethink the way they’re doing things and act as a cause agency.”

But cost is only one of his concerns with helping companies do good. De Rothschild also points to how many charities suffer from donor and volunteer ADD. “Whether it’s Black Lives Matter or the fires in the Amazon, people have good intentions of getting involved, but then

Culture - Social Responsibility

there’s a new cause in town and the other charities take a dip. Relying on people’s goodwill is tough. We’re looking at how to create a more dependable model.”

De Rothschild credits brands like Tesla and Patagonia as leaders in the way they have drawn attention to the environment and started valuable conversations. Ultimately, though, creating and selling more products can be prohibitively high-cost and counterproductive to affecting real change. “This last Super Bowl had a good chunk of ads that were promoting how companies were also doing good.

That wouldn’t have happened five years ago.

The method of the corporate influence of the brand telling the consumer that if they buy this six-pack of Michelob [Pure Gold organic light lager], the company will help protect six square feet of organic farmland, that’s easy for people to do, and it sets an example of the way companies need to change their thinking and approach.”

While de Rothschild admits there is much work to be done, his simple insights into how companies can shift and operate can surely help ignite dialogue and serve as a canvas for change. “There’s a need now more than ever for corporations to do something impactful,” he says. “Even though the elections are ahead, and politics is on everyone’s mind, when it comes down to it, people trust brands more than politicians.” thelostexplorer.com

120

CULTURE & TASTE

CSQ and Philanthropy.com share a bicoastal snapshot of the most generous donations received and the philanthropists who gave them over the past 18 months.

PHILANTHROPY

Giving Large

GIVERS:

RECIPIENTS:

Los Angeles

New York

Los Angeles

Steven Dorfman pledged $6M toward the construction of a new building for the School of Management at California Lutheran University. Dorfman retired in 1999 as vice chairman of Hughes Electronics.

Craig Newmark donated $1.1M to provide cybersecurity protection for media and journalists, and to safeguard election offices and community organizations in advance of the 2020 U.S. presidential election. Newmark is the founder of the classified-advertising website Craigslist and Craig Newmark Philanthropies.

The Henry Samueli School of Engineering and Applied Science at the University of California, Los Angeles has received $100M from the Samueli Foundation (Henry and Susan Samueli) for 100 new professorships and to enroll more undergraduate and graduate students. In 1991, Henry Samueli co-founded Broadcom, a semiconductor and software company, when he was a professor of electrical engineering at UCLA. He is also a UCLA alumnus, having earned his bachelor’s and master’s degrees from UCLA in 1975 and 1976, and a Ph.D. in 1980.

Stewart & Lynda Resnick gave $750M to California Institute of Technology, Pasadena to build the Resnick Sustainability Resource Center and endow environmental research related to the effects of climate change. The Resnicks founded the Wonderful Company, which owns the food and beverage brands FIJI Water, POM Wonderful, and Wonderful Pistachios, among others.

James Simons, under the Simons Foundation, donated $100M to the New York Genome Center for collaborative research programs focusing on neurodegenerative conditions, neuropsychiatric diseases, and cancer. Simons is a mathematician who founded Renaissance Technologies, a hedge fund in East Setauket, N.Y.

Los Angeles Biomedical Re search Institute has received $70M from Richard and CSQ

Visionary Melanie Lundquist. The gift will expand biotech research at the institute and throughout Los Angeles County. Richard Lundquist owns Continental Development Corporation, a commercial real-estate development and management company.

New York Anti-Semitism Accountability Project has received $25M from Ronald Lauder to establish this new bipartisan watchdog group to combat hate speech against Jews. Lauder is the president of the World Jewish Congress and an heir to the Estée Lauder Company cosmetics fortune.

Culture - Philanthropy 1

2

1. Stewart & Lynda Resnick.

2. Melanie Lundquist.

3. The two-story, 27,000-square-foot Steven D. Dorfman Center.

Data courtesy of the Chronicle of Philanthropy, the leading news and information source for nonprofit leaders and grant makers.

Learn more at philanthropy.com

CSQ Q1 2020

3 121

Dining around Los Angeles and New York with Matthew Kenney. By Carole Dixon

PROPRIETOR’S PROFILE

Brave New PlantBased World

Los Angeles

2

1

With vegan cuisine continuing to rise in popularity and profits of more than $4.5B in 2019—even the Golden Globes served a complete plant-based menu at the annual star-studded fete—consumers are keenly aware of the importance of health and wellness and protecting our planet.

An early adopter and tireless promoter of this lifestyle is James Beard–nominated, French Culinary Institute–trained, Plant Food + Wine founder/chef Matt hew Ken ney, who ha s been dubbed the “healthiest chef on the planet.” With restaurants in nine cities, including New York and Los Angeles, his main goal is bringing the future of food to the forefront of education. Kenney has created a range of vegan products, has authored over a dozen books on the subject, and is set to open 10 additional restaurants in the coming year.

He also created the Folia menu at Four Seasons Los Angeles, a concept set to expand to an additional 40 Four Seasons spanning all the way to Dubai. Another of his latest collaborations includes the French-born Ladurée Tea Salon, which is now dedicated to 100 percent vegan dishes in Beverly Hills and rebranded as LadureexMK, with select menu items available in locations throughout the world.

4

3

Green Breakfast

Local Diner

Tried and True Menu Staple

I order breakfast from our own Venice Beach retail concept, New Deli, most days, as I love the bagel with carrot lox and cashew cream cheese, and we have a wonderful and extensive coffee program.

Sometimes I’ll mix it up with my favorite green juice from Make Out in Culver City, with avocado toast and radishes. The avocado toast there is definitely my favorite in L.A.

For dinner, a Venice neighborhood favorite is MTN, which offers a very innovative Japanese menu with many plant-based options.

It is boldly flavored and light at the same time.

Each of our concepts has its signature dishes. The classic heirloom tomato lasagna is an 18-yearold classic at several locations throughout the US and internationally.

Culture - Proprietor’s

122

CULTURE & TASTE

Favorites for Out-of-Town Guests

I nearly always begin in the garden at Plant Food + Wine. If it’s not full we’ll go for a pizza at the new Double Zero Venice, which was the second location for this concept after NYC. We have since opened one at our popular plantbased food hall, Plant City, in Providence, Rhode Island, and have plans to expand to several other cities this year.

Working Lunch

Lunch is usually a working experience. I really like Lodge Bread Company in Culver City, if not dining at Plant Food + Wine in Venice (in the garden, of course).

They use very fresh ingredients, change their menu often, and their bread is incredible.

6

5

7

1. Chef Matthew Kenney has helped change people’s perspectives on plant-based cuisine.

2. The rooftop at The Waldorf Astoria in Beverly Hills.

3. Kenney divides his time between both coasts.

4. The plant-based pizza from Double Zero.

5. Plant Food + Wine in Venice.

6. MTN is located just down the street from Plant Food + Wine.

7. Wally’s in Santa Monica has more than 38,000 bottles of wine.

8. New Deli in Culver City.

9. Double Zero in New York.

10. Plant Food + Wine in New York.

11. Cosme in New York.

Day-Off Hangout

We love experimenting with new restaurants, so we’re constantly exploring places we’ve never tried, both in L.A. and when traveling. It’s always fun to check out a different farmers market outside of my usual Santa Monica or Venice rotation. I love finding new products and local companies that are doing things in the plant-based space, and many of the items we sell at New Deli (our plant-based market and deli in Venice) are from local artisans.

I’ll occasionally go to JeanGeorges at the Waldorf Astoria in Beverly Hills for the gazpacho alone. It’s one of my favorite foods, and they do it well. The roof top is a nice addition as well, with a perfect view of the hills. Wally’s [Beverly Hills and Santa Monica] has best wine selection, always a great vibe and atmosphere.

9

New York

Late-Night Spots after Work

In summer, I like the rooftop at Public Hotel, and I always like the lounge at Mercer Hotel late at night. It is quiet and a great place for a meeting and conversation.

Culture - Proprietor’s

Weekend Brunch Gem

Bagels for Breakfast

Since I’ll miss my bagel from New Deli, I usually order a similar item from Orchard Grocer and pick up a green juice from Dr. Smood.

I enjoy brunch at Nix, John Fraser’s Michelin-starred restaurant in the West Village. Their innovation and technique is inspiring and, if I’m in the mood, the cocktails are exquisite.

Clean Dining for Lunch and Dinner

I love ABCV for lunch—the carrots with almond-seed butter are to die for—and Cosme for dinner.

Both have vibrant, clean, plantbased options and great wine and cocktail lists.

8 CSQ Q1 2020

10

11 123

www�k�ndred�l�ve

O CM

NO

N

O PR

C

FIT

O AT RE

R

CE

CS

R

O

The future of purpose-led bus�ness transformat�on beg�ns here� Kindred Today's most effect�ve CEOs are mak�ng the�r comm�tments to susta�nab�l�ty and purpose a cr�t�cal part of the�r organ�zat�ons' operat�ons� Jo�n 2�000+ of the world's lead�ng bus�ness� nonprof�t� and cultural leaders who w�ll be tak�ng act�on to transform the�r compan�es and partnersh�ps for a world that �s demand�ng more accountab�l�ty and respons�b�l�ty�

Jo�n C-Su�te leaders from lead�ng organ�zat�ons such as

Reg�ster today� www�k�ndred�l�ve

126 CSQ Visionary Awards in Sports, Media, & Entertainment 130 CSQ X IWC Watchmaking Class 131 CSQ X ISAIA Networking New York 132 The XX Project “Seat at the Table” Founders & Funders Series

Visionary of the Year in Real Estate & Finance, R. Donahue Peebles II, celebrates Visionary of the Year in Sports, Media & Entertainment, Byron Allen, with CSQ Founder and CEO David L. Wurth. More on the event on page 126.

The Network

Part 5

The Network - Cover

CSQ Q1 2020

125

VISIONARIES SERIES

HONOREES

CSQ’S 2019 VISIONARY AWARDS IN SPORTS, MEDIA & ENTERTAINMENT

2019 Visionary of the Year Byron Allen Chairman, CEO, and Founder Entertainment Studios

October 28, 2019 Manhattan, New York CORE: Club

Ilya Pozin Co-founder and Chief Growth Officer Pluto TV

CSQ hosted its Sports, Media & Entertainment Visionary Awards at the CORE: Club in Midtown Manhattan. Multiple honorees and attendees flew in from Los Angeles to celebrate CSQ’s prestigious class of business leaders who have shaped the face of media and cultivated lasting legacies in their fields. The evening’s primary honoree was 2019 Visionary of the Year Byron Allen, Founder, Chairman, and CEO of Entertainment Studios.

Real Estate Entrepreneur Don Peebles introduced Allen and commended his pursuit of inclusion for minorities in the business landscape.

Mitchell Modell President and CEO Modell’s Sporting Goods Christina M. Francis President Magic Johnson Enterprises

ALSO HONORED

CSQ’s 2019 NextGen 10 Sports, Media & Entertainment: Michelle Edgar Heather Brooks Karatz James Karklins

The Network - Q3 VA

Allen described his journey from appearing on comedy shows such as The Tonight Show Starring Johnny Carson to selling TV shows directly to TV stations. He emphasized the importance of gender and racial equality in corporate America.

“We are fighting for a global market position to employ Americans and to build American wealth,” remarked Allen. “You can’t win unless you engage your best intellectual capital, and that includes women and people of color.”

Also honored as Visionaries at the event were Mitchell Modell, President and CEO of Modell’s Sporting Goods; Christina M. Francis, President of Magic Johnson Enterprises; and Ilya Pozin, Co-Founder and Chief Growth Officer of Pluto TV. CSQ also awarded an elite selection of under-40 founders, leaders, and changemakers. Director of Brand and Strategy at Loeb.nyc Katie Loeb led a thought-provoking Future of Media panel featuring Francis, Pozin, and digital publishing innovator James Karklins.

126

THE NETWORK

Travis Montaque David Halperin Ben Hindman Katie Loeb Matthias Metternich Jonathan Skogmo Danny Wax

SIGNATURE SPONSORS Art of Sport Baltaire Clay Lacy CORE: Club Forelinx FRWD Goldman Sachs Hawke Media Hotel Chocolat IWC Schaffhausen Jukin Media Loeb.nyc Revel

1

2

4

The Network - Q3 VA 3

6

5

7

1 Revel Spirits 2 Jonathan Skogmo, Travis Montaque, Katie Loeb, James Karklins, Ben Hindman, David Halperin, Michelle Edgar, David Wurth 3 R. Donahue Peebles II, Byron Allen, and David Wurth 4 Travis Montaque and Michael Loeb 5 “Future of Media” panel with Katie Loeb, James Karklins, Ilya Pozin, and Christina M. Francis 6 Tori Maisey, Jennifer Jackson, and guest 7 Guests at the cocktail reception 8 Malcolm Edgar, Michelle Edgar, Ray Acosta, and Sandra L. Richards

CSQ Q1 2020

8

PHOTOGRAPHY Alphonse Telymonde EVENT CONTACT To learn more about the CSQ Visionary Awards, contact: events@csq.com 127

1

2

4

The Network - Q3 VA 3

5

6

7

1 Mitchell Modell and David Wurth 2 The crowd 3 Don Peebles introducing Byron Allen 4 Jennifer Lucas and Byron Allen 5 David Wurth and Randall Stone 6 Goldman Sachs representative Chelsea Crowder and Byron Allen 7 Christina M. Francis and David Wurth

128

THE NETWORK

VISIONARIES SERIES

1

2

3

5

The Network - Q3 VA 6

4

7

8

9

1 IWC Schaffhausen 2 Michael Deadder and guest 3 CSQ’s Sports, Media & Entertainment Edition 2019 4 Chelsea Crowder, Christina M. Francis, and Nicole Pullen Ross 5 Gioia Giacomelli, Silvia Livoni, Giuseppe Careddu 6 Ilya Pozin and David Wurth 7 Bonin Bough and friends 8 Katie Loeb, Izzy Pollak, and a friend 9 “Future of Media” panel with Katie Loeb, James Karklins, Ilya Pozin, and Christina M. Francis

CSQ Q1 2020

129

CSQ X IWC WATCHMAKING CLASS December 3, 2019 Manhattan, New York IWC Schaffhausen 1 Mission

CSQ partners with the most

established and well-known brands in luxury lifestyle to host invitation-only events series that allow our members to forge authentic personal and business relationships.

Event Highlights Dressed in official IWC coats and magnifying loupes, attendees were afforded a rare glimpse into the art of elite watchmaking.

Members apprenticed in a private horology workshop hosted by the Swiss luxury brand’s master watchmakers.

Signature Sponsors IWC Schaffhausen

2

5

The Network - IWC 6

3

C-SUITE ADVISORS MEMBERSHIP DIRECTOR Ian Tenenbaum

ian@csq.com

EVENT CONTACT Gioia Giacomelli

gioia@csq.com

4

7

1 IWC horologists demonstrate watchmaking 2 David Sternberg, Jason Anderson, Mike Buckley, Harold Lerner, Brandon Heroux, Ian Tenenbaum, and a JP Morgan representative with IWC watchmaker 3 CSQ Associate Publisher Ian Tenenbaum with the watchmakers from IWC 4 Watchmaking up close 5 An horologist from IWC explains the mechanisms 6 The mechanism up close 7 The lounge space

130

THE NETWORK

CSQ X ISAIA NETWORKING NEW YORK December 5, 2019 Manhattan, New York ISAIA 1

7

2

8

Mission

CSQ ushered in a stylish holi-

day season with a Neapolitan Aperitivo hosted by our brand partner ISAIA in Midtown Manhattan. A classical music trio performed as drinks and hors d’oeuvres were served and members of the community enjoyed rounds of pool on their vintage table.

Event Highlights Members participated in highlevel networking, deal making, and connecting with new and old friends alike amid Amalfi coast treats.

Signature Sponsors ISAIA

The Network - Isaia 3

9

4

10

6

11

PHOTOGRAPHY Alphonse Telymonde C-SUITE ADVISORS MEMBERSHIP DIRECTOR Ian Tenenbaum

ian@csq.com

EVENT CONTACT Gioia Giacomelli

gioia@csq.com

5

1 Randall Stone (emaz), Les Hiscoe (Shawmut) 2 Musician, John Hoffman (Northern Trust) 3 An evening of cocktails and networking in the beautiful Townhouse of ISAIA 4 Watson Mere, James Shay (president, ISAIA), John Hoffman (Northern Trust) 5 Avery Fletcher (Belmond) 6 The Italian ensemble 7 ISAIA New York 8 Peter Grover (JP Morgan Private Bank), Michael Salamanca (VistaJet), and David Wurth 9 Les Hiscoe (Shawmut), Ray Acosta (Wu-Tang Clan), Randall Stone (emaz) 10 David Wurth and James Shay (President, ISAIA) 11 Nancy Lu and Chris Schimmel (Wells Fargo Private Bank), Peter Baldo (NY Spaces)

CSQ Q1 2020

131

“SEAT AT THE TABLE” FOUNDERS & FUNDERS

Notable Speakers Brian Lee, BAM Ventures, Co-Founder and Managing Director Signature Sponsors Savills

January 16, 2020 Spring Place, Beverly Hills The XX Project

Fenwick & West LLP HOK Pathfinder Wealth Advisors 1

Mission The XX Project is a membershiponly networking platform bringing leading women in business together across entertainment, marketing, technology, finance, wellness, and media industries. For the past eight years, The XX Project has curated more than 100 events in Los Angeles, New York, and San Francisco featuring guest speakers such as Soledad O’Brien, Beth Comstock, Pat Mitchell, Eve, Tina Knowles, Lavinia Errico, and Suzanne DePasse. The XX Project launched the “Seat at the Table” Founders & Funders series to propel collaboration and empower key women in positions of power to further female entrepreneurship. The conversation centers on what it means to have a seat at the table in the marketplace, and the advantage female founders have in this climate. The kickoff event featured guest speaker Brian Lee of BAM Ventures. BAM supports many female-founded businesses including Jessica Alba’s The Honest Company, feminine care wellness startup Rael, Violet Grey, and Sagely Naturals.

Sagely Naturals

The Network - XX Project

Event Highlights Brian Lee shared several inspiring tales of his most successful ventures.

Lee described how he founded Legal Zoom after calling 411 and requesting to be transferred to Robert Shapiro.

Lee pitched him the idea at 9 p.m., and Shapiro agreed to a follow-up call the next day during regular business hours. During the launch of ShoeDazzle, he recalled driving with Kim Kardashian to the City of Industry in a U-Haul, in order to fill it with shoes. These stories reinforce the idea that business owners must wear multiple hats and do it all when first launching a business.

PHOTOGRAPHY Jessica Czarnecki EVENT CONTACT Michelle Edgar, Founder, The XX Project

132

THE NETWORK

2

3

5

4

6

1 The XX Project members seated at the table for dinner 2 Rick Blosser, Michelle Edgar, Brian Lee, Sarah Chambless, and Shay Bolton 3 Alessandro Cajrati Crivelli (Founder and Chairman, Spring Place) and Michelle Edgar 4 Cara MacArthur, Sarah Chambless, Shay Bolton, and Michelle Edgar 5 Michelle Edgar, Yanghee Paik, Brian Lee, Marissa Bell, April Uchitel 6 Panel discussion with Michelle Edgar and Brian Lee

OUR EXPERIENCE BRINGS YOU IN. OUR PEOPLE BRING YOU BACK. Since 1942, our accountants have counseled medium- and small-sized businesses with the best in accounting, tax and financial advisory. Today, we focus on the same goals: meeting our clients’ needs and exceeding their expectations.

open

Audits/Reviews/Compilations • Tax and Accounting Management Advisory • Financial Consulting • Specialty Services

Accounting for the past, planning for the future.

CONTACT US

21800 Oxnard Street, Suite 300, Woodland Hills, California, 91367 818.854.6100 | gishSEIDEN.com

Advertiser Index AEG aegworldwide.com

Ernst and Young — LA ey.com

Kindred kindred.live

Vroozi Inc. vroozi.com

21 Club 21club.com

Gish Seiden gishseiden.com

MGM mgmresorts.com

Walker Zanger walkerzanger.com

Boys & Girls Clubs — Metro LA bgcmla.com

Hawke Media hawkemedia.com

SoCal IP Law Group LLP socalip.com

Wooly wooly.com

Burgess burgessyachts.com

Hunt Club huntclub.com

The Agency theagencyre.com

Cal Lutheran University callutheran.edu

Icon iconaircraft.com

TravelStore Inc. travelstore.com

Clay Lacy claylacy.com

J.P. Morgan jpmorgan.com

Troy Anthony Clothing troyanthonyclothing.com

Editorial Index Allen, Byron Archibong, Ini Badenhorst, Darren Bigirimana, Francois Black, Kenneth Bloch, Ben Bristol, Ryan Bryant, Kobe Chopra, Deepak Cohen, Leonard Correggiari, Brando Cruz-Diez, Carlos Cushman, Emilie Dalais, Thierry Dalie, Robert Dalton, Andrew Dandillaya, Ram Diplo Dixon, Carol Donnelly, Kate Drage, Josh Driver, Walter Dyrdek, Machine Dyrdek, Rob Edens, Wesley Edgar, Michelle Eisenhower, Dwight Fazio, Tom Ferreira, Javier Ferreira, Maria Forsey, Stephen Fossey, Dian Freedman, Jim Gaw, David Georges, Christophe Hacker, Severin Hallock, Sarrah Harrington, Charles Hefner, Hugh Held, Josh Hollod. Chris Hudson, Ryan Illy, Francesco Kabiru, Cyrus Kagame, Paul Källenius, Ola Kate Driver Katz-Mayfield, Andy Kenney, Matthew Kim, Hyun Suk Ko, Toni Kobe, Tim Kutcher, Ashton Lang, Marina Lee, Terry

134

126 26 92 92 108 31 100 29 29 10 54 30 119 92 102 10 104 54 122 10 88 64 54 54 74 132 40 87 64 68 30 92 98 54 28 52 29 40 10 54 38 58 16 92 92 31 68 56 122 31 60 26 38 112 38

Levy, Martin Manley, Jim Marchetti, Michael McCarthy, Paul Meyer, Lisa Helfend Michel, Serge Mntambo, Nandipha Morrish, Jay Nardone, Randal Navarro, Christian Reimer, Lexi Rhan, Scott Richards, Robin Sarhan, Kane Seccuro, Michael Selleck, Tom Sereboff, Steven C. Smith, Phil Sternlicht, Barry Stone, Randall Swift, Taylor Thorne, Brian Tolson, Shaun Vaiman, Vlad Vidal, Gore Virgallito, Teresa Weiss, David R. Wilson, Jeremy Wurth, David

106 88 66 118 108 30 92 87 74 10 63 110 62 29 98 108 112 87 29 115 108 86 86 115 10 54 15 74 8

Daiwa Dallas Museum of Art Dataminr Dave Davidoff Delta Delta Airlines Duolingo Edgewell Eight Inc. Ә*māz Evernote Facebook Fifth Wall Ventures Forbes Ford Form Factory Inc. Four Seasons Health-Ade Kombucha Hermès Hickory Farms Honda Honey Honey Baked Ham Hopper Hublot HyreCar Impossible Foods InDinero Intrepid Investment Bankers J.P. Morgan JAMDAT Mobile JuneShine Knoll Furniture Knotch La Flor Dominicana Ladurée LALA Leeu Estates Lone Wolf Cigar Company Luxury Collection Hotel Marijuana Business Daily Mattel MB&F MedMen Mercedes-Benz Meyer, Olson, Lowy & Meyers LLP NEXT Trucking NFL Omaha Steaks One&Only Openpath Orange County Business Journal Ovation P&G Padrón Parsons Corporation e

PEOPLE

31 26 45 45 15 88 31 45 98 26 115 10 64 45 17 40 54 87 45 26 98 54 45 98 10 30 45 31 45 98 54 65 38 26 45 15 122 10 92 15 90 10 67 30 45 31 108 45 15 98 92 45 10 10 98 15 40

Advertiser Index

COMPANIES 100 Thieves A-Grade Investments Acreage Holdings Adidas AirBnb Audi Bacardi Bantry Bay Barron’s Bentley BentoBox Chemistry Holdings Chemistry Spirits CLB Architects Clifton Clutter CNTraveler Co-Star Collibra Commune CorpStrat Inc. CURE CURE Pharmaceuticals Daimler

45 38 54 54 38 40 17 92 102 28 45 54 54 74 92 45 10 10 45 74 106 54 54 31

Patrón PayPal Peloton Plant Food + Wine PlayVS Podere le Ripi Real Good Foods Recess Red Bull Relais & Châteux Research Magazine RMO LLP Roar Africa Robb Report Scopely Shopify Singita’s Kwitonda Lodge SoCal IP Law Group LLP Sony SoulCycle Spotify Squarespace Tesla Thrive Market Tickets.com Time-Tide Town & Country Toyota TPC Scottsdale Travel + Leisure Trip Troon North Twitter Uber Viacom Vitaminwater Vogue Vrai & Oro Wag Wall Street Journal Wally’s Wine & Spirits William Lawson’s Whiskey WWE Y-Brush Yellowstone Garage Zeitz MOCAA Zola

17 115 45 122 45 16 98 38 54 88 102 110 92 10 64 98 92 112 31 29 38 45 40 45 63 92 10 40 87 10 10 86 38 38 54 29 10 45 45 38 10 17 69 31 74 92 45

Hawke Media Your Outsourced CMO

â„¢

Our purpose is to create accessibility to great marketing for everyone

Hawke Media

MONTH-TO-MONTH

NO LONG-TERM CONTRACTS

CHEAPER THAN HIRING IN-HOUSE

GET YOUR FREE CONSULTATION www.hawkemedia.com

A-LA-CARTE SERVICES

C-SUITE QUOTED 38

53

54

I [had] avoided Instagram largely out of concern that the app would prove a professional liability.

I couldn’t have been more wrong.

We were just a 15-person startup.

It started out as a research project, and it was a great product, even back then. But [winning] “App of the Year” in 2013 was still very surprising.

The biggest misperception is that recreational use is what’s driving the cannabis space. It’s people with therapeutic needs looking for alternatives to other formats—opioids and otherwise.

Chris Hollod Founder and Managing Partner Hollod Holdings

Severin Hacker Co-founder and CTO Duolingo

Josh Held Founder and CEO Chemistry Holdings

56

58

60

I don’t think we ever considered Dollar Shave Club our primary competition. In retrospect, it was great because having them out there as an alternative, it caused a lot of people to consider that they had options.

I wasn’t necessarily a great student.

I liked learning things I was interested in, and when that overlapped with the curriculum, I was good.

If not, then I wasn’t. I went to business school before it became unpopular for people in startups to get an MBA. It was more about applying business thinking to technology.

You don’t need to spend $250,000 for someone to write you custom code for your site. Shopify is a game changer for eCommerce. Also, when you start a new company, you don’t have to buy an expensive inventory management system.

Quickbooks is good for at least the first year or two.

Andy Katz-Mayfield Co-founder and CEO Harry’s

Ryan Hudson Co-founder Honey

Toni Ko Founder and CEO Bespoke Beauty Brands

62

64

119

There are two ways to enter an industry. Create demand or follow demand. When you follow demand, you must have a better mousetrap.

People ask me, ‘How do you do it with two people leading a company?’ I now say back, ‘How do you do it with one?’”

I read fun novels and boring business books alike. Some might regard fiction as a waste of time, but I’ve drawn a wealth of inspiration from military books such as Admiral William H. McRaven’s Sea Stories to memoirs and biographies like Michelle Obama’s Becoming and I Am Malala by Malala Yousafzai to even Reese Witherspoon’s book club picks.

Robin Richards Co-founder, CEO, and Chairman CareerArc

Walter Driver Co-founder and Co-CEO Scopely

Emilie Cushman Founder and CEO Kira Talent

C-Suite Quoted

136

Hunt Club

iconaircraft.com

Icon

ICON A5 Make Weekends Extraordinary.

Learn to fly the ICON A5 in less than a month and experience the world in ways that you’ve only imagined. Until now.

Connect with ICON at fly@iconaircraft.com or call (707) 564-4100 to learn about scheduling a sales demo flight in your area.