Fairway — From page 5
ketball in Manhattan, another player, who is an agent, recognized him and later told him about the opportunity to be on “Food Fortunes.” In September, Glickberg shot an episode near Los Angeles that was picked up by the Food Network. He filmed eight episodes over two weeks at the end of January. He said it was fulfilling to be recognized for his new career. “I think it’s kind of a natural progression for me. I can kind of step out into the spotlight on my own,” he said. “It’s something that’s gratifying, being able to go from one successful venture to going to my own successful venture.” Making quick decisions on the show didn’t faze Glickberg. Neither does being on the young side in the investing world. “Since I’ve been 22 years old I’ve always been comfortable being by far the youngest person in the room, so that’s not something really that I think about,” Glickberg said. “I think when I was really young, 23, 24, I had a little bit of a chip on my shoulder, because everybody would just call me the kid. At this point, with my history and my success in business, I really don’t think age really plays into it.” In the year after leaving Fairway, Glickberg said he met with people in the industry that are investing to learn more about what they do. He knows “there’s a ton of risk” making investments, that things don’t always go according to plan. He uses some of the tips from his meetings and his lifelong background in food to make investments, and tries to go in with confidence.
Bitcoin — From page 8
about it,” she said, comparing the use of bitcoins now to the use of Facebook a decade ago. Back then, it was rare for businesses to use Facebook for marketing, Fieschi said, but now it is basically a requirement for a company to have a Facebook page. Straub agreed, tying adoption rates to familiarity with the technology. “I think the issue is the merchants not understanding how they can take it, and a lot of them are worried about the exchange risk if they’ve even heard of it at all,” he said. Bitcoins’ value in dollars has surged and dropped dramatically in response to major coverage by mainstream media, but volatility risk for retailers can be eliminated with software that can instantly convert bitcoins to dollars at the time of transaction. Straub said adoption by major retailers
10
March 23, 2015
WCBJ | HV Biz
“I’m pretty well-versed in understanding what customers want and what consumers want to buy,” he said. “It’s really about using what I learned in food stores and applying that.” When judging whether to invest in a company, Glickberg said he considers a product’s taste, its sales potential and whether the company’s financials are solid. He said entrepreneurs that are pitching should show their personality, engage investors and understand their company’s valuation. He invests in early stage companies with up to $10 million in revenue. The best pitch he saw on “Food Fortunes,” he said, was from a San Diego-based breakfast company called Earnest Eats, which was one of two investments he made on the first episode. Glickberg said health food in general has been a trend for the better part of a decade, and now protein in breakfast is a growing trend, along with renewable protein sources like crickets. “Over the next five years the consumer will become more comfortable with it,” he said about cricket protein. With filming completed and the show on air, Glickberg said he’s working with the companies he’s invested in — one in the tech industry and the rest in food. He was secretive about the specifics. Glickberg hasn’t completely left behind his Fairway past. “I’m leveraging some of my pre-existing relationships to get companies into stores, into the supply chain,” he said. Occasionally he’ll receive an email from a company that wants to be on Fairway’s shelves, and he redirects them to the new owners. He’s focused on Dan Glickberg Food. “I’m running my own company, which is really where I want to be right now,” Glickberg said.
could help set an example. Microsoft, Dell, Dish Network and Expedia are among the companies that now take bitcoin payments in some capacity. “Hopefully those companies take the lead and then smaller businesses will be more inclined,” Straub said. CoinDesk in its report forecast that the number of merchants accepting bitcoin will grow to more than 140,000 this year. The report also noted a record-setting amount of venture capital invested in bitcoin startups in the fourth quarter — $130 million, more than double the $64 million raised in the third quarter. Straub painted a picture of the financial future if bitcoins are propelled into the mainstream, describing the logos of accepted payment methods found on storefronts or online checkout pages. “I think you’ll see MasterCard, American Express and then bitcoin,” he said.