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#and CEO of apple. Job founded his Apple business in the garage of his home. Although Apple plays a significant role in Jobs's income
orgbv · 3 years
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ngalot-blogs-ts1a · 3 years
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Steve Jobs
Persistent
Steven Paul Jobs was an American inventor, designer and entrepreneur who was the co-founder, chief executive and chairman of Apple Computer. Apple's revolutionary products, which include the iPod, iPhone and iPad, are now seen as dictating the evolution of modern technology.
In 1976 Wozniak designed and developed apple 1 computer and showed it to jobs, who suggested the they sell it. Jobs, Wozniak, and Ronald wayne founed Apple computer in the garage of Jobs in Los Altos Home on Crist Drive.
https://youtube.com/watch?v=s4pVFLUlx8g&feature=share
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Rupert Murdoch
Creative
Keith Rupert Murdoch AC KCSG is an Australian-American billionaire businessman, media tycoon, and investor. He controls a media empire that includes cable channel Fox News, The Times of London and The Wall Street Journal.
Murdoch father was the owner of the news thriving group called News Limited. After inheriting news limited at the age of 21, Murdoch was credited with inventing the modern tabloid. Over the next few decades Murdoch purchased a large number of news paper companies in Australia, the United Kingdom, and the United States within 50 years his News Corporation came to own more than 800 companies.
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Jeff Bezos
Passion
Jeffrey Preston Bezos is an American entrepreneur, media proprietor, investor, and computer engineer. He is the founder and executive chairman of Amazon, where he previously served as the president and CEO.
Jeff wasn’t always the richest person in modern history, he gave up parts of his youth in highschool working at McDonald’s as a line cook. 38 years after cleaning that albuquerque McDonald’s corner to corner he would take o. the title as the richest man on earth.
https://youtube.com/watch?v=a171hw91QjI&feature=share
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Thomas Edison
Self Confident
Thomas Alva Edison was an American inventor and businessman who has been described as America's greatest inventor. He developed many devices in fields such as electric power generation, mass communication, sound recording, and motion pictures.
Were most familiar with Thomas Edison as the inventor of the ligh bulb we used today. Having a convenient lught source change peoples lives gone were of the days of being able to go outside.
https://youtube.com/watch?v=WPs0SwuXSEw&feature=share
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Richard Branson
Risk taker
Sir Richard Charles Nicholas Branson is an English business magnate, investor, and author. In the 1970s he founded the Virgin Group, which today controls more than 400 companies in various fields. Branson expressed his desire to become an entrepreneur at a young age.
Sir Richard Branson was born in England in Juky 18, 1950. At the age of eleven Richard and his childhood friend, Nick Powell established their first business. At thr age of sixteen Richard started one of his most successful business he started a magazine called the student together with his schoolmate Jonathan Holland Gems.
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47burlm · 5 years
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October 5, 2011
On October 5, 2011, Steve Jobs, the visionary co-founder of Apple Inc., which revolutionized the computer, music and mobile communications industries with such devices as the Macintosh, iPod, iPhone and iPad, dies at age 56 of complications from pancreatic cancer.
Born on February 24, 1955, in San Francisco, California, to unmarried graduate students Joanne Schieble and Abdulfattah Jandali, a Syrian immigrant, Jobs was adopted as a baby by Paul Jobs, a Silicon Valley machinist, and his wife Clara. After graduating from high school in Cupertino, California, in 1972, Jobs attended Reed College, a liberal arts school in Portland, Oregon, for a single semester before dropping out. He later worked briefly for pioneering video game maker Atari in California, traveled to India and studied Zen Buddhism.
In 1976, Jobs and his computer engineer friend Stephen Wozniak founded Apple Computer in Jobs’ parents’ garage in Los Altos, California. As Bloomberg News would later note about Jobs: “He had no formal technical training and no real business experience. What he had instead was an appreciation of technology’s elegance and a notion that computers could be more than a hobbyist’s toy or a corporation’s workhorse. These machines could be indispensable tools.” In 1977, Jobs and Wozniak launched the Apple II, which became the first popular personal computer. In 1980, Apple went public and Jobs, then in his mid-20s, became a multimillionaire. Four years later, Apple debuted the Macintosh, one of the first personal computers to feature a graphical user interface, which allowed people to navigate by pointing and clicking a mouse rather than typing commands.
In 1985, Jobs left the company following a power struggle with Apple’s board of directors. That same year, he established NeXT, a business that developed high-performance computers. The machines proved too pricey to gain a wide consumer audience; however, British computer scientist Tim Berners-Lee developed the World Wide Web using a NeXT workstation. In 1986, Jobs acquired a small computer-graphics studio founded by filmmaker George Lucas and rechristened it Pixar Animation Studios. In 1995, Pixar released its first film, “Toy Story,” the first-ever feature-length, computer-animated movie. It became a huge box-office success and was followed by such award-winning hits as “Finding Nemo” (2003) and “The Incredibles” (2004). In 2006, Walt Disney Company purchased Pixar for more than $7 billion, making Jobs the largest Disney shareholder.
In late 1996, Apple, which had floundered without Jobs, announced it would buy NeXT and hire Jobs as an advisor. The following year, he became Apple’s interim CEO (the “interim” was dropped in 2000), and under his leadership a nearly bankrupt Apple was transformed into one of the planet’s most valuable corporations. A charismatic, demanding perfectionist, Jobs was said to possess the ability to intuit what customers wanted before they knew it themselves. In his trademark jeans and black mock turtleneck, the tech titan turned product launches into highly anticipated events, and Apple introduced a series of innovative digital devices, including the iPod portable music player in 2001, the iPhone in 2007 and the iPad tablet computer in 2010, that became part of everyday modern life. (In early 2007, Jobs announced that Cupertino-based Apple was dropping “Computer” from its official moniker to reflect the fact the company’s focus had shifted from computers-only to mobile electronic devices).
Despite a series of medical issues, including surgery in 2004 to remove a pancreatic tumor and a 2009 liver transplant, Jobs continued to lead Apple until August 24, 2011, when he stepped down as the company’s chief executive. Six weeks later, he passed away at his Palo Alto, California, home. At the time of his death, Jobs, a father of four, had a net worth estimated at more than $7 billion. According to biographer Walter Isaacson, Jobs “was the greatest business executive of our era, the one most certain to be remembered a century from now. History will place him in the pantheon right next to Thomas Edison and Henry Ford.”
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bigherosixfeels · 6 years
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The Impatient Patient REVIEW
SPOILERS BELOW
Canon sick!Hiro was everything I hoped it’d be and more. Not to mention a bunch of other quality moments that happened throughout the episode. 
The episode begins with Krei on his yacht (or his KREIFISHER) on a particularly foggy evening. After arriving right where he’s supposed to be, he receives a phone call. Despite wanting to do this in his office, he has to drop off a huge amount of cash. The reason behind this? Well, what looks to be a torpedo is really there to give Krei what he wants; a chip. Unfortunately for him, he’s being watched by a super buff and tough trio known as Mad Jacks. 
Hiro, Baymax and Fred are already on night patrol, but flying is difficult for Baymax to do in the fog. Fred sings a song to himself about not being able to see his own feet. Something catches Hiro’s attention in the bay and Baymax manages to scan our villains for the episode. The super villain team catch up to Krei’s yacht and begin attacking with their weapons. Before they can successfully take down Krei, Hiro and Baymax fly in and temporarily take two of them down. One of the Jacks knocks Hiro and Baymax in down into the water, but they emerge and another of the Jacks grabs a hold of Hiro by the foot. As they fly further into the air, the man tells Hiro not to mess with the Mad Jacks. Hiro is confused because he thinks all of their names are Jack, but the man he’s talking to is actually named Greg. Him and the others just go by Jack (which makes no sense to Hiro). He then let’s go of Hiro, but Baymax catches him before he can fall in the water again. He thanks his friend, but sneezes right after. Baymax begins to diagnose him, but he assures he’s fine and they head over to Krei’s yacht. 
Upon meeting up with Krei, Hiro learns he was making another unethical business deal. Well, Krei actually starts lying about that, but a blast from one of the Jacks has him overboard. It wasn’t a total lie to be fair. The Mad Jacks did attack him out of nowhere. Baymax saves Krei and puts a flotation device on him. The Mad Jacks start attacking again and Hiro suggests for Baymax to use his rocket fist. In order to knock down all three targets at once, Baymax is going to need precise timing. On Hiro’s cue, he launches his fist and it’s a success! Hiro also tries to make a pun based on their super villain team name, but Baymax doesn’t get it. 
Back on shore, Hiro tries to persuade Krei into telling him what’s going on. Krei’s assistant almost says something, but Krei cuts her off. Hiro sneezes again and Baymax says his nasal membranes have unusually thick mucus in them which gives Krei the excuse of not wanting viruses in the CEO. As they leave, Krei’s assistant asks why he didn’t say anything. Truthfully, Krei doesn’t want to be lectured by a kid. 
The next day at school, Hiro is in the cafeteria. Getting lunch, he goes for an apple, but then decides to get an orange instead which disgusts Karmi. He doesn’t think it’s a big deal, but Karmi begins to lecture him on how it’s cold and flu season. On cue, Hiro sniffs and wipes his nose on his hoodie sleeve, causing Karmi to drop her lunch. She slowly backs away. Never change, Karmi. 
Later on in the nerd lab, Hiro is looking miserable. Honey Lemon feels his forehead and notes he’s a little warm. Gogo says he looks like death. Fred begins to talk about how he never gets sick because every year, he gets “stung by an irradiated bee”. Gogo tells him it’s a flu shot after he explains that he feels a pinch after he closes his eyes, but Fred doesn’t believe it. Wasabi is excited to show Hiro his new computer. After opening it up, Hiro sneezes on it, tries to clean it off, but sneezes again, which has Wasabi screaming. I feel awful for both of them. 
We cut to Obake’s lair and Mad Jacks have contacted him. Obake is not impressed with them getting beaten by a child. He doesn’t want to hear anything else from them and wants them to finish the job. Obake then looks at a picture of Hiro and wonders what it will take to lay him low. Cue an ill Hiro sneezing and groaning in his bed. 
The next morning, Cass is bringing him breakfast, but automatically becomes worried seeing him in his current condition. Being the responsible guardian that she is, she takes him to the doctor. Baymax goes with them and he’s able to diagnose his exact symptoms even with a doctor doing so. The doctor grows frustrated by this, but Baymax can’t help that he cares a lot. Hiro expresses his stubbornness to not want to stay in bed, but Baymax says it’s advised. Both her and Baymax try to give him a lollipop. “Enjoyment of a lollipop is not age conditional.” Baymax gets it. 
Back at home, Hiro is video-chatting with his friends. Baymax tries to give Hiro some tea which he decides on drinking later. Wasabi is cleaning his new computer, but now knowing that Hiro has a viral infection causes him to panic again. He bids a feel better as he leave the chat. Fred found out the the Mad Jacks have a website and a theme song. I will admit, their theme song is indeed catchy. Hiro realizes that whatever Krei is hiding from them, it's a big deal considering someone hired the Mad Jacks to go after him. 
At Krei Tech, Krei is listening to the Mad Jacks theme song. According to his assistant, it costs half a fortune to hire them. Krei thinks it's nice to know he's worth it, but it's really the chip that's worth it to them. Krei believes this chip is the future, but he has no idea what it does yet. He's making cautious choices such as to have his tech security team analyze it and he replaced the windows of his office. The Mad Jacks slam into the windows, but they can't break in. Well not like that anyway. The only windows he replaced were in his office and they manage to break in through different windows. Greg flies in, grabs Krei and leaves. 
Back at home, Hiro is listening to police reports. He's too sick to barely move, but learning that the Mad Jacks are behind this attack perks him up. With Baymax being in his carrier, he's able to suit up and sneak out. He's driving through the streets on Tadashi's moped. Catching a glimpse of Krei still in the hands of Greg has him turning around, but another Jack snatches Hiro right off the moped. The team was expecting to see Baymax with him, but Hiro says they're in for a surprise. The guy knows Hiro's bluffing and and is surprised he'd take his team on alone. He drops Hiro in a dumpster and flies off. The fall causes Hiro to hurt his leg and he limps back up the stairs to his room, being greeted by Baymax. 
The next day, Hiro is back at the doctor and his left leg has a hairline fracture. Cass questions how this happened since he's supposed to be in bed all day. He lies and says it's a "video game accident". His lies are even worse when he's sick. Baymax, who is outside of the room this time, says that he has a second smaller fracture on another bone. Receiving a picture of the scan from Baymax, his leg is indeed fractured in two places. You couldn't just stay home, could you?  
At home, the gang is visiting Hiro. Honey Lemon has drawn smiling lemons all over his cast. They want him to get well and to "quit doing dumb stuff". Fred is only disappointed that Hiro didn't call him to join in on the fun. Hiro explains that he knew Krei was in danger, but Gogo doesn't think he needed to prove himself right. Baymax begins caring for him again and the gang decides to leave. Hiro is more concerned for Krei's safety than his own health, but Baymax is more focused on making sure Hiro keeps his leg elevated and drinks fluids. 
Meanwhile, Krei is still being held hostage by the Mad Jacks. As the team trains and works on their weapons, Krei takes this opportunity to escape. Unfortunately, that doesn't work out for him since their headquarters is airborne (and it matches the color of their suits). The team saves him right before he falls. All the team wants is the chip and Krei ends up handing it over. He's curious of who their employer is, but they won't spill the beans. 
Later that night, Hiro gets a call from Krei saying that he could use Big Hero 6. He's at the top of Krei Tech, hanging by the threads of his blazer. The team is in action, expect for Hiro who is speaking with them at home through his helmet. Hiro is tracking their whereabouts on a digital map. Hiro wants to help, but Baymax remarks that it wouldn't be good for his recovery. An idea strikes the teen genius and he's now down in the garage, designing a slightly different version of his super suit.
The Mad Jacks are silently parachuting to the ground and tip-toe their way to a window on top of a building. The break-in is semi-successful. They get in, but the window falls and breaks. Greg slides down and quietly walks in, but he's spotted by Obake. He asks if he has the chip from Krei and Greg shows it to him. After handing it over, Obake looks at his watch (which is really a way for him to keep tabs on Big Hero 6). Greg thinks it's best for them to keep the enemy occupied while Obake escapes with the chip. However, Okabe brings up that the security of the chip is paramount. Rethinking the strategy, Greg decides he'll keep the chip secure until Big Hero 6 is neutralized. After Greg leaves, Obake smiles to himself and the left side of his face glows again. 
Our villains are now ready to go against Big Hero 6. Fred jumps on one of them and Gogo goes against another. She dodges all his attacks and manages to knock him down with both her discs. Honey Lemon and Wasabi, (who took a taxi to their destination), have now arrived on scene, as well as Baymax who doesn't think violence is the answer. Greg disagrees, believing it's a major part of who the Mad Jacks are. He blasts Baymax against a brick building, but before he can cause further damage, Hiro shows up as well! His super suit has a jet pack modification. Before the team can think he's lost his mind for fighting while both sick and injured, Baymax states that it's not Hiro.
Hiro is safe at home in his bed doing what he should be doing. The "Hiro" that is fighting with them is in a super suit that he can control like a video game. The face of the suit is his, but it's a hologram so he can see what he's doing. Not that he needs to. He can literally dodge Greg's attacks with his eyes closed. Hiro crunches up his weapon, but Greg has a backup which is a taser. Baymax rips that away from him. Greg attempts to fly away, but Hiro and Baymax catch up to him and break off his jet pack. Baymax catches him and Hiro asks for Krei's chip which he relunctantly hands over. Greg jumps out of Baymax's arms and the one of the other members of the Mad Jacks grab onto him as they all fly away. Hiro hands the chip over to Gogo who will give it back to Krei. She tells him to get some rest and Hiro states he's feeling better already. 
We cut back to Obake, who is hoping for the chip to be back in Krei's hands. Krei is considering finding out about this chip himself, but his assistant hopes he'll turn it over to the tech security team. Obake is waiting for Krei to decide against needing his tech team. Krei, who almost did the best thing he could have done, second guesses himself. He believes the Mad Jacks and/or who they were hired by infiltrated his security team. He ends up putting the chip in his computer, but the file is empty. This frustrates Krei, but works out perfectly in Obake's favor. He's able to access all of his files and discovers the true identity of Big Hero 6 Hiro. Time to panic. 
I LOVED THIS EPISODE SO MUCH 
Hiro being sick was everything I hoped it would be and it was fantastic! He was stubborn and wanted to do what he thought was best for the city, but he couldn't in his condition. It resulted in him being injured which definitely made sure he had to stay put, but he found a way around that too. It was a brilliant solution on his part. He was able to take down who I assume is the leader of the Mad Jacks while being in the comforts of his own home. He was so cocky in that scene too it was great. I get a feeling that the suit he was able to control will come in handy again soon. I felt so bad for him the majority of the time (he looked so miserable!). But seriously, what made him think it was a good idea to go against villains alone when sick and take Tadashi's moped out like that?! I'd say he's too young to drive a moped, but I looked it up and you can get a license for one at 14. But since he's under 16, he can only drive it during daylight hours so yeah BAD IDEA, HIRO. 
Baymax was so sweet! I loved seeing him being a caregiver to Hiro since that's what he's programmed to do. The moments where they were at the doctor was hilarious (especially because he was able to do the job better than the doctor could and she was doing her job perfectly). I know he's doing his job, but he was just so cute wrapping a blanket around him and keeping his leg elevated. 
The Mad Jacks made a really good first impression with me. They have their humorous moments, but they are pretty dangerous too. I think because we saw the most out of Greg, he's my favorite of the three, but all of them are pretty cool. I like that they were hired by Obake, but they think he's kinda freaky. I expect to see them again since they got away and I won't be disappointed to see them again when the time is right.
Krei was pretty good in this episode too. He doesn't think everything through, but I found him to be enjoyable. I liked that he was taking some cautions early on in the episode, but by the end he was as predictable as Obake hoped he'd be.
Speaking of Obake, we're seeing more of him and he's SOOOO GOOD. He's manipulative and incredibly smart which adds to how chilling he's been since his brief appearances from the beginning. He knew what Krei was going to do and because of that, he now knows that Hiro is the genius behind Big Hero 6. Although all members of the team are valuable, he's mainly after Hiro and we should be deeply afraid of that (Don't lay a finger on our boy!). 
Also the animation! Oof, it was incredible in this episode! 
Things are getting super interesting now and I'm anxious to see what will happen next!
On a scale of one to ten...I'd rate The Impatient Patient a 9.3!
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douchebagbrainwaves · 3 years
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UNLESS THEIR WORKING DAY ENDS AT THE SAME TIME
The average 25 year old is no match for companies that have already raised money. But once you've admitted that one high level language can be more powerful than your own. I was still wasting time imitating the wrong things? I first laid out these principles explicitly, I noticed something striking: this is practically a recipe for succeeding just by negating. Productivity varies in any field, but I don't think our competitors understood, and few understand even now: when you're writing software that only has to do something trivially easy. That may be the more important of the two. Certainly not the authors. Whether to do anything hard in. Lexical closures provide a way to get a job. For example, open source software is more reliable precisely because it's open source; anyone can find mistakes. By the end of the scale, nature seems to be more companies like us. This essay is derived from a talk at Oscon 2005.
The people who understood our technology best were the customers. Fortunately you have some control over both how much you make, and you can decrease the amount of bullshit in your life by more than you think. By definition you can't tell from his portfolio. I knew practically nothing about the paths from rich to poor.1 If your terms force startups to do things they never anticipated, rather than a real downtown, Brasilia rather than Rome, Ada rather than C. There's nothing like going to grad school at Harvard to cure you of any illusions you might have about the average Harvard undergrad. What you're doing is business creation. Maybe it would be misleading even to call them centers. And the thing we'd built, as far as they could tell, wasn't even software. Many things people like, especially if they're young and ambitious, they like largely for the feeling of virtue in liking them. A programming language does need a good implementation, of course, but as far as they could tell, wasn't even software.2
Technically the term high-level language, in the long run, of the forces underlying open source and blogs are done for free, but before the Web it was harder than it looked.3 When you choose technology, you have to figure out. It's there to some degree in almost every field, but there aren't enough investors who will give $200k to a startup that was sufficiently successful would never have to move. VCs. So you could say either was the cause. The companies that rule Silicon Valley now are all descended in various ways from Shockley Semiconductor. Hackers like to hack, and hacking means getting inside things and second guessing the original designer. It's basically the diminutive form of belligerent. They switch because it's a better browser.4
It's not simply a matter of writing a lot of the new principles business has to learn it? He suggests starting with Python and Java, because they are easy to learn. That's what you do.5 Does this sound familiar?6 Except books—but books are different. And users don't care where you went to a better college. But if you make a language popular? The language can help here too. Now Palo Alto is suburbia, but then it was a charming college town—a language you should learn as an intellectual exercise, even though the latter depends more on determination than brains. How do you protect yourself from these people?
If you make something users want, then you're dead, whatever else you do or don't do. I bet this isn't true.7 I think the effect of such external factors on the popularity of a programming language rather than, say, making the language strongly typed. People interested in local events that one is solving mostly a single type of problem instead of many different types. Microsoft is remarkable among big companies in that they are able to develop software in house. But Y Combinator runs on the maker's schedule has a meeting, they have to be really good at tricking you. They were not even on a path to anything interesting. By the time you have to design buildings that don't fall down, but the creator is full of soot. If willfulness and discipline are what get you to profitability but you can tell it must be satisfying expectations I didn't know I had. The last one might be the most important.
The Reddits pushed so hard against the current that they reversed it; now it looks like they're merely floating downstream.8 If you throw them out, you find that good products do tend to win in the market. And God help you if you choose them. It seems unlikely this is a sign that something is broken?9 How about writer?10 Our secret weapon was similar. But there's another way of using time that's common among people who make things, like programmers and writers. Revealingly, the same status as what comes with it. What's less often understood is that there are more of them. For I see a painting impressively hung in a museum, I ask myself: how much would I pay for this if I found it at a garage sale, dirty and frameless, and with no idea who painted it?
The reason we tell founders not to worry about and which not to.11 The melon seed model implies it's possible to make yourself into one. My God, it was harder to reach an audience or collaborate on projects. Better to get a lot done. I accumulated all this useless stuff, but that the people pretending to work. There is usually so much demand for custom work that unless you're really incompetent there has to be in the twentieth century.12 Using first and rest instead of car and cdr often are, in successive lines.
And that is just what tends to happen. I cheat by using a very dense language, which shrinks the court. In this particular case there is a way to finesse our way out of lower-level abstractions are built in a very transparent way out of lower-level abstractions, which you can survive.13 And odds are that is in fact the bullshit-minimizing option. There are usually a few people in a company with someone you dislike because they have some skill you need and you worry you won't find anyone else. Note too that determination and talent are not the whole story. That word balance is a significant one.14 I tried my best to imitate them. Often, indeed, it is at least different from when I started. You may have as many as five or ten releases a day.15 So if Lisp makes you a better programmer, like he says, why wouldn't you want to get the most out of them, and lose half a day's work; or we can try to avoid meeting them, and probably offend them.
Notes
For example, understanding French will help dispel the cloud of semi-sacred mystery that surrounds wisdom in ancient philosophy may be some things it's a significant effect on returns, it's easy to believe your whole future depends on where you go to grad school, and the war it was actually a computer.
Investors are professional negotiators, and all the East Coast. In many ways the New Deal but with World War II had disappeared.
Ed. Some of the lies we tell.
When I catch egregiously linkjacked posts I replace the url with that additional constraint, you can't even claim, like indifference to individual users. In Shakespeare's own time in the 1980s was enabled by a central authority according to some abstract notion of fairness or randomly, in the 70s, moving to Monaco would give us. VCs may begin to conserve board seats by switching to what modernist architects meant.
The person who would in 1950. I did when I was a good idea to make money from the truth to say that was actively maintained would be investors who turned them down because investors already owned more than just getting started. 7% of American kids attend private, non-programmers grasped that in the world of the most accurate way to find a broad hard-beaten road to his time was 700,000 per month. But one of few they had in grad school, because they attract so much on luck.
Dealers try to write your thoughts down in, say, recursion, and in fact you're descending in a difficult position. But do you use this route instead.
In principle yes, of S P 500 CEOs in 2002 was 35,560.
Some blue counties are false positives caused by filters will have to want them; you don't see them, but whether it's good enough to convince limited partners. If by cutting the founders' advantage if it were. An accountant might say that IBM makes decent hardware.
This is not a VC who read it ever wished it longer. 'Math for engineers' classes sucked mightily. Even college textbooks is unpleasant work, like warehouses. 5% of Apple now January 2016 would be to say because most of the lawyers they need them to get the people worth impressing already judge you more than investors.
So the most surprising things I've learned about VC inattentiveness. Stone, op. No, we met Aydin Senkut. I overstated the case.
The way to pressure them to ignore investors and instead of just Jews any more than make them want you.
I couldn't convince Fred Wilson for reading drafts of this essay, I preferred to work than stay home with them. I wonder if that means is No, and that modern corporate executives would work. Mayle, Peter, Why Are We Getting a Divorce?
There are people in return for something that would appeal to space aliens, but this would be critical to do something we didn't, they still probably won't invest in so many different schools of thought about how to allocate resources, political deal-making power. There were a variety called Red Delicious that had other meanings. The problem is that you'll expend a lot like meaning.
It's not the shape that matters financially for investors. This plan backfired with the New Deal but with World War II the tax codes were so bad that they probably wouldn't be worth trying to deliver the lines meant for a startup than it was 10 years ago. At the time I thought there wasn't, because they can't afford to. Where Do College English 28 1966-67, pp.
Your user model almost couldn't be perfectly accurate, because the illiquidity of progress puts them at the works of their growth from earnings.
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justforbooks · 7 years
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On this day in 2011, Steve Jobs, the visionary co-founder of Apple Inc., which revolutionized the computer, music and mobile communications industries with such devices as the Macintosh, iPod, iPhone and iPad, dies at age 56 of complications from pancreatic cancer.
Born on February 24, 1955, in San Francisco, California, to unmarried graduate students Joanne Schieble and Abdulfattah Jandali, a Syrian immigrant, Jobs was adopted as a baby by Paul Jobs, a Silicon Valley machinist, and his wife Clara. After graduating from high school in Cupertino, California, in 1972, Jobs attended Reed College, a liberal arts school in Portland, Oregon, for a single semester before dropping out. He later worked briefly for pioneering video game maker Atari in California, traveled to India and studied Zen Buddhism.
In 1976, Jobs and his computer engineer friend Stephen Wozniak founded Apple Computer in Jobs parents garage in Los Altos, California. As Bloomberg News would later note about Jobs: “He had no formal technical training and no real business experience. What he had instead was an appreciation of technology's elegance and a notion that computers could be more than a hobbyist's toy or a corporation's workhorse. These machines could be indispensable tools.” In 1977, Jobs and Wozniak launched the Apple II, which became the first popular personal computer. In 1980, Apple went public and Jobs, then in his mid-20s, became a multimillionaire. Four years later, Apple debuted the Macintosh, one of the first personal computers to feature a graphical user interface, which allowed people to navigate by pointing and clicking a mouse rather than typing commands.
In 1985, Jobs left the company following a power struggle with Apple's board of directors. That same year, he established NeXT, a business that developed high-performance computers. The machines proved too pricey to gain a wide consumer audience; however, British computer scientist Tim Berners-Lee developed the World Wide Web using a NeXT workstation. In 1986, Jobs acquired a small computer-graphics studio founded by filmmaker George Lucas and rechristened it Pixar Animation Studios. In 1995, Pixar released its first film, “Toy Story” the first-ever feature-length, computer-animated movie. It became a huge box-office success and was followed by such award-winning hits as “Finding Nemo” (2003) and “The Incredibles” (2004). In 2006, Walt Disney Company purchased Pixar for more than $7 billion, making Jobs the largest Disney shareholder.
In late 1996, Apple, which had floundered without Jobs, announced it would buy NeXT and hire Jobs as an advisor. The following year, he became Apple's interim CEO (the “interim” was  dropped in 2000), and under his leadership a nearly bankrupt Apple was transformed into one of the planet's most valuable corporations. A charismatic, demanding perfectionist, Jobs was said to possess the ability to intuit what customers wanted before they knew it themselves. In his trademark jeans and black mock turtleneck, the tech titan turned product launches into highly anticipated events, and Apple introduced a series of innovative digital devices, including the iPod portable music player in 2001, the iPhone in 2007 and the iPad tablet computer in 2010, that became part of everyday modern life. (In early 2007, Jobs announced that Cupertino-based Apple was dropping “Computer” from its official moniker to reflect the fact the company's focus had shifted from computers-only to mobile electronic devices).
Despite a series of medical issues, including surgery in 2004 to remove a pancreatic tumor and a 2009 liver transplant, Jobs continued to lead Apple until August 24, 2011, when he stepped down as the company's chief executive. Six weeks later, he passed away at his Palo Alto, California, home. At the time of his death, Jobs, a father of four, had a net worth estimated at more than $7 billion. According to biographer Walter Isaacson, Jobs “was the greatest business executive of our era, the one most certain to be remembered a century from now. History will place him in the pantheon right next to Thomas Edison and Henry Ford.”
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Funny Work Emails.
I have a story to tell.
So, when I was working at a new publishing company, I found myself in a very interesting predicament. That being that I found my boss extremely attractive, but the man was a downright Prick and it was very hard being his executive assistant, so it kinda cancelled everything out. I had also been applying to jobs everywhere and had a few that looked promising, and after he caught wind of it, he offered to extend the contract that I was nearly finished at the company I was currently working at. He increased the pay, offered me a town car and my own driver, since sometimes my car wouldn't work and access to the company credit card. For what, I don't know.. Now, I have a friend and her name is Amy. I have known her since we went to university together and she and I have emailed each-other probably thousands of times. It started with school projects, boyfriend problems, planning date nights, work frustrations and so on. They would often help me by letting out some steam before the sides of my ears whistled. Until, I made the mistake of sending a certain email.
And this is how it goes.
The second I pulled into my spot at Leighton Publishing, my phone buzzed with my boss's usual morning email.
Subject: What I Need Today.
Coffee. Stephen King’s new book. Reports for the two o’clock meeting. Your signature on the employment extension contract.
You’re welcome.
Michael Leighton
CEO, Leighton Publishing
I sighed as I thrust my phone into my purse as I unbuckled and got out of my car. I’d done my best to avoid that last line on all of his task requests, simply not addressing it via email or simply saying “I need more time to think about it,” if he brought it up during one of our meetings. And even though the sexual tension between us was at the highest levels it’d ever been, I couldn’t afford to let that cloud my judgment.
His overbearing sexiness was not a good enough reason to stay, and the odds of us having sex were slim to none. (Not that having sex with him was a good enough reason to stay either.)
After securing a copy of Stephen King’s newest book from Barnes & Noble and a cup of his favorite expensive coffee, I rushed inside the building and headed right up to his office.
I knocked against his door five times and waited for his familiar, “Yes?” before opening the door.
The second I stepped inside, I felt his eyes watching my every move, and I tried not to make eye contact as I walked over and set the book and the coffee on his desk.
“Is there something on your mind, Miss London?” He waited for me to look at him, and I finally gave in. “Any particular reason why you’re currently mumbling?”
“No, Mr. Leighton. It’s just—” I decided to be honest, to finally get this over with. “I’m not interested in signing the extension contract.”
He raised his eyebrow. “Are you referring to right now, or ever?”
“Ever.” I stepped back, waiting for his reaction, but there wasn’t one. His face remained stoic and he simply picked up his coffee and took a long sip.
“Fair enough,” he said. “Thank you for telling me. After you settle into your office, I need you pick up my dry cleaning from Midtown. There should be fifteen suits and twenty shirts in my name.”
What the hell? “Would you like me to pick up anything else?”
“Not at all.”
I forced a smile and headed toward the door. “Thank you for being understanding about the contract, Mr. Leighton.”
“Anytime, Miss London.”
I left his office and took the steps to my own, quickly printing out the two o’clock reports so I could save time since I had a new dry cleaning mission. As I was stapling the first set of sheets together when my phone buzzed with a new email from him.
Subject: Something Else I Need Today.
My Jaguar needs to be washed. Take it to the place I like in New Jersey, ten miles across the bridge.
Michael Leighton
CEO, Leighton Publishing
Is he being serious?
I dropped my reports to the floor, barely getting a chance to reread the message to see if my eyes were playing tricks or me or not, because he sent me another email.
Subject: And Also...
I forgot to pick up a particular watch I ordered weeks ago on my way to work this morning. You’ll need to stand in line at Audemars Piguet on 57th Street by noon to ensure that I receive it today.
Michael Leighton
CEO, Leighton Publishing
I slammed my office door shut to prevent myself from screaming. I had reports to write for next week, calls to make for meetings for our next quarter and a few companies to call about job interviews for myself. And he wants me to run around and collect his shit like I was a fucking intern?! Dammit! I paced the floor a few times before responding to him with a curt “Ok.” Then I headed down to the private parking garage.
I took the keys from the lock-box and tried my best not to think about using them to leave major scratches against his car, and I quickly slid behind the wheel. Instead of immediately heading toward the dry cleaners, I did something that would have made Amy's face pale if she saw me. I took his Jaguar for a half hour joyride first.
I took my time driving through the city streets, stopping for ten-dollar coffee and charging five cups worth to his card every time. Might as well use it, since he gave me the right too, and I have worked there for nearly 2 years and not once touched the thing. On my way out, I noticed a new line of fashion at the nearby lingerie store, so I took his precious credit card and purchased ten matching sets of overly priced panties and bras.
Screw him...
Still feeling reckless and far less professional than I’d ever felt in my life, I picked up his dry cleaning and tossed it in the back seat. I drove across the George Washington Bridge and sat in the back of a café for half an hour.
I checked my email and saw that my bastard boss had emailed me yet again.
Subject: Timing.
I refuse to believe it takes three to four hours to pick up an order of suits and a watch. Even considering getting my car washed, you should be back by now.
Michael Leighton
CEO, Leighton Publishing
I immediately deleted it and noticed that there were several other new emails in my inbox. Emails I actually wanted to see.
Apple, Microsoft, and Amazon all sent positive, personal messages that all read to the likes of, “Congratulations! You’ve made it to the final round of interviews! We simply need to verify your information and references. Afterwards, we’ll make an internal decision behind closed doors.”
I nearly jumped up from my chair, screaming about my pending freedom. I knew there was no way in hell that I wouldn’t receive a formal offer from at least one of those jobs, and since I was still awaiting to hear back from twenty more, I felt more emboldened than ever before. I felt like I could quit Leighton Publishing right now and leave Michael’s Jaguar in the middle of New Jersey for him to find by himself tomorrow.
It took all of one minute for me to realize that I wasn’t that bold. That, and I needed a way to get back to New York City.
Annoyed, I vented all of my frustration in a long ass email to Amy, and per her previous advice, I deleted it the second I hit send.
Subject: My Boss.
Have I already told you that I hate my boss today?
Sexy as hell or not, this pompous, arrogant, ASSHOLE asked me to pick up his dry cleaning the second I walked through the door. Then he told me that I needed to take his Jaguar to a car wash that was ten miles outside of the city, but only after I needed to stand in a never-ending line to buy some type of limited, hundred-dollar watch.
I honestly can’t wait to see the look on his face two months from now when I tell him that I’m quitting his company and that he can kiss my ass. KISS. MY. ASS.
All those former fantasies about him kissing me with his “mouth of perfection” or bending me over my desk are long over. OVER.
Your bestie,
Mya
PS—Please tell me your day is going better than mine...
SENT.
After driving around and retrieving a watch that dripped with the title TACKY MONEY WASTER, I head back to my bosses newly washed and waxed Jag and pull my phone out and frown at the lack of email's from Amy. Maybe she was busy and hadn't read it yet. Opening up my email, I sent her another one.
Mya
Subject: My email.
Did you get my email from this afternoon?
Your bestie,
Mya
After I got into the car, I heard a ping from my email, it was Amy.
Subject: Re: My email.
No...What email?
Your bestie,
Amy
Subject: Re: Re: Re: My email.
The one about my boss and all the shit he asked me to do today. . I would resend it to you, but I deleted it...
He’s so ridiculous, Amy.
Can I call you in like twenty minutes when I get back to the office?
Your bestie,
Mya
Subject: Re: Re: Re: Re: My email.
Of course. I’ll be waiting.
Your bestie,
Amy
I slumped in my office chair minutes after returning Mr. Leighton’s Jaguar to the garage. I didn’t bother bringing any of his dry cleaning inside, though. If he wanted those suits, he could go down to the garage and get them himself.
Now, more than ever, there was a huge part of me that wanted to pack up all of my things and never come back. Yet, I knew I couldn’t leave this place without personally telling him to go fuck himself first. I’d more than earned that.
When I’d finally let go of enough anger, I picked up my desk phone and dialed Amy’s number.
“Hey there!” She answered on the first ring. “Are you feeling any better?”
“Not at all.” I sighed. “I don’t know if I’m going to make it to the two-month mark anymore, Amy. I really don’t.”
“You can do this,” she said. “This is just one bad day and I’m sure by the time you get home later you’ll feel differently. Don’t let him get to you. Ever.” There was a sudden loud banging noise in her background. “Ugh! Let me call you right back, Mya. The neighbors are being ridiculous with their music today.”
She ended the call before I could say goodbye, and I heard a ping from my inbox seconds later, knowing she’d sent me one of her usual “Stay Calm” emails.
I opened my email—expecting to see something inspiring, but the second I saw the subject line and the sender my jaw dropped to the floor.
Subject: Re: My Boss.
No, you haven’t already told me that you hate your boss, today, but seeing as though you’ve sent me this email directly, I know now...
Yes, I did ask you to pick up my dry cleaning the second you arrived to work to day. (Where is it?) And I did tell you to take my Jaguar to the car wash and pick up my thousand-dollar watch. (Thank you for taking five hours to do something that could be accomplished in two.)
You don’t have to wait two months from now to see the look on my face when you tell me you’re quitting. I’m standing outside your office at this very moment. (Open the door.)
No comment on your “fantasies,” although I highly doubt they’re “long over.”
Your boss,
Michael
PS—Yes. My day is definitely going far better than yours...
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Oh. My. Fucking. God!
I felt all the color draining from my face, and I swear I didn’t breathe for over a minute.
I shook my head in utter disbelief, refusing to accept that I’d sent my rant to him instead of Amy. I refreshed my computer screen again and again, hoping that this was some type of joke.
A loud and sudden knock came to my door and my heart nearly fell out of my chest, but I didn’t get up. I didn’t make a single move.
The knock came again, much louder this time, and this time I heard his voice. “Miss London?” He knocked once more.
I slowly stood up from my desk and looked outside the peephole. Mr. Leighton was looking down at his watch, his face still impossibly perfect and flawless. His lips pressed into an angry flat line.
He looked up from his watch and stared through the peephole, letting his eyes meet mine.
I jumped back from the door and considered my options. I could open the door and listen to whatever he had to say, or I could leave through my office’s side exit door.
It was a no-brainer.
I grabbed my coat, my laptop, and shut down my computer. Then I rushed out of my side door and took the freight elevator down to where I parked my car in the garage. Thinking, It would just be a straight shot from there, right? Nope. Car didn't turn over. It gurgled and then puked. Shit. Thinking I could call A cab I take out my phone and remember that I had access to a town car, which, though I never used it, waited everyday out in front of the garage. Perfect! My driver eyed me suspiciously as I literally ran through the garage, but he didn’t protest when I begged him to hurry up and get me home.
I didn’t wait for him to open the door for me or wish me a good day when we arrived. I practically jumped out of the car and rushed straight into my building—making a beeline for Amy’s place.
“Amy?” I knocked on her door. “Amy!”
“Coming!” She swung open her door immediately and pulled me inside. “No need to bang on my door like that, Mya. What the hell is wrong with you?”
“I think I just got fired.”
“What? How do you think you just got fired? You either did or you didn’t.”
“Okay, okay. I didn’t get fired yet, but I’m pretty sure he’s going to fire me. He’s definitely going to fire me. Oh god, oh god, oh god...”
“Mya, slow down.” She placed her hands on my shoulders. “Speak English, slowly. Very slowly.”
“I accidentally sent him one of my complaining emails, a complaining email that was one hundred percent meant for you.”
“Was it worse than the one you sent me yesterday morning?”
“Way worse. I I called him an asshole and mentioned how I used to fantasize about him wanting to bend me over his desk.”
Her face turned red as well, and she opened her mouth to say something, but the sound of my phone ringing caught both of our attention.
I pulled it out of my pocket and damn near dropped it at the sight of Mr. Leighton’s name on my screen. Unsure of what to do, I tossed it onto her couch.
“Is that him?” Amy asked.
I could only nod.
“Do you plan on answering it?”
“No.” I stared at it until it went to voicemail. But then it rang again.
And again.
Rolling her eyes, Amy picked up my phone and hit ‘answer’ before tossing it to me.
“Hello?” I answered, my voice was basically a whisper.
“Hello, Miss London.” The sound of my name falling from his mouth made me take a seat. “Did I catch you at a bad time?”
I shook my head as if he could see me.
“Are you there, Miss London?” His deep voice sent warmth through my face, I felt shame. “Did I catch you at a bad time?”
“Not really...”
“Good. Where are you right now?”
“Oh, um...” I looked to Amy for help, but she was smiling, looking as if this shit was actually funny. “I just ran down to the copy room.”
“So, you’re still in the building?”
“You could say that.”
“I saw you getting in your town car half an hour ago.” There was a smile in his voice. “You’re definitely not in the building right now.”
“Yes, well...Is there something you need from me right now?”
“There is actually, I came to your office this afternoon because I needed to discuss something private and very important that pertains to you and me, but I missed you somehow. So, I need you to come into work an hour early tomorrow so we can have this private and important conversation. Can you do that?” I simply stared at Amy, feeling my impending doom take a large seat in the room.
“Miss London,” he repeated. “Can you do that?”
“Yes...”
“Good. I’ll see you in the morning.” He ended the call, and a large glass of wine was immediately thrust into my hand via Amy.
Shit. Shit. Shit...
She tried her best to distract me from today’s epic mistake by making me watch terrible Netflix shows, and letting me crash on her couch for hours, but it was no use.
As I headed to the office one hour earlier like he requested, I noticed his Jaguar wasn’t in his designated spot. Somewhat relieved, I took the elevator to my floor and unlocked my office—unsure as to whether I should start organizing my things for an upcoming termination or not.
Whenever he decided to bring up my email, I knew I was going to have to choose between three options when I responded. Plan A: Deny. Deny. Deny. Plan B: Deny more. Deny more. Deny more. Plan C: Suck up my pride, admit I was wrong, and hope he doesn’t fire me because I haven’t received an official job offer from anywhere else yet.
It has to be Plan A...
Just as I was about to sit down, my desk phone rang and his office number appeared on the screen. Taking a deep breath, I picked up the receiver. “Yes, Mr. Leighton?”
“Come up to my office.” He hung up without a single word, leaving me confused.
I locked my purse in my drawer and took the steps, knocking three times until his familiar, “Yes?” greeted me and made me open the door.
He was sitting in his chair, his back facing me. At the sound of my heels clacking against the floor, he slowly spun around, like some type of Bond villain.
His suit today was one I hadn’t seen before, a dark grey one that perfectly complemented the new silver watch on his wrist. The watch he’d far too recently made me stand in line to get.
“Have a seat.” He motioned for me to sit in front of his desk.
I sat down and he picked up his coffee, taking a long sip.
“You know, Miss London,” He emphasized every syllable of my name. “I honestly thought you and I were on better terms, especially after working together for over 2 years. But it seems I was clearly mistaken.”
He looked as if he was waiting for some type of explanation in regards to my email, and I still wasn’t sure if I wanted to go for Plan A, B, or C. As if he could sense that I was weighing my options, his lips curved up into a smirk.
I tried to avert my gaze away, even for a second, but I couldn’t look away from him at all.
“Are you going to say something?” he asked. “Or are you going to continue sitting there as if you have no idea what I’m talking about?”
“Is this about me leaving early yesterday?” I settled on Plan A. “I was feeling a little ill, that’s all.”
“This is about a particularly inappropriate email where you make a mention of me fucking you.”
My cheeks were on fire and I knew he wasn’t going to let me avoid this at all. I wanted the earth to swallow me up.
“I’m sorry,” I said, the words rushing out. “I had no idea that I’d accidentally—”
“This is also about...” he said, cutting me off as he raised his hand. “Me possibly needing to go to human resources and file a complaint. A sexual harassment complaint.”
What?
“Sexual harassment is a very serious offense here at Leighton Publishing, Miss London.” He looked me up and down. “I’ve had people fired for far less egregious offenses, and I technically should be doing the same to you right now as that would only be more than fair.” He didn’t let me get a word in. “Especially since I don’t think you fully understand why what you did was so offensive.”
“I do...” My voice was a whisper.
“Don’t you think there would be an uproar with serious consequences?” I don’t honestly know what possessed me to say the word;
“Maybe.”
“Maybe? No, definitely.” He adjusted his tie. “In fact, there would be such an uproar that I think the IT department would be forced to go through all the emails I’d ever sent on any company device since nothing sent on a company server is ever truly deleted. In fact, they’d probably have to investigate and see if this was a one-time offense or a particularly interesting pattern...”
I felt my jaw dropping and struggled to keep my lips together.
“I mean,” he said, looking somewhat serious. “Depending on what they found, they’d have to personally address me and assess the damages. And if the person I was talking about ‘fucking’ in my emails wanted to, I’m sure she could make my life very miserable.”
Silence.
He picked up a folder from his desk and slowly set in on my lap. “Three hundred and sixty-seven emails between you and your ‘bestie’, Amy.”
The first thought wasn’t, Oh no. It was actually ‘That’s it’?
“That’s this month alone.” His voice was clipped. “I didn’t have time to read more than a few of them, but I’m assuming we won’t be seeing anymore of these in our IT database. Or will we?”
“No.” I shook my head.
“Good. I had them all permanently deleted. You’re welcome.” He stood up and glanced at his watch. “Those Roberto files are due before our morning meeting with Lockwood.” He walked over to the door and held it open, waiting for me to leave. What. The. Hell. Just Happened?!?
Avoiding his gaze, I stood up and headed into the hallway. I stopped for some unknown reason as a thought popped into my head that had me asking;
“Can I ask you something personal?” I looked up at Michael.
“Yes.”
“Were any of those stories in the tabloids from last year about you and your.. dates, true?”
“Some of them.”
“Oh.” I frowned. “Really?”
“What are you really asking me, Mya?”
“Is there any reason why you haven’t been featured in one for a very long time?”
“Yes...It’s because I haven’t done any of the things I used to do for a very long time.” He trailed his finger against his lips. “I promised my adviser I would tone down my ‘activities’ for the sake of the company going public in the future.” He paused. “I also happened to accidentally hire a very compelling and sexy distraction working on the floor right below me.” Wait.. Whut? 
“In other words, you slept with your usual groupies in private.”
“I tried to.” He admitted. “But I was honestly too damn attracted to someone else to waste my time on other people.”
“I don’t believe you.” I blushed. “There’s no way you haven’t slept with anyone else since I started working for you.”
“You should, and I haven’t.” He ran his fingers through his hair. “I have no reason to lie to you. I even tried getting rid of you when you first started since you were such a distraction, but that clearly didn’t work out.”
“You were purposely being mean to me in the beginning to get me to quit?”
He smiled, silently confirming it.
“That is so...” I couldn’t believe he could look so genuine while saying that. “That is so fucked up.”
“It was.”
“No, is.” I looked into his eyes. “You still act as if you’re trying to get me to quit.”
“Sign the extension and I’ll be a lot nicer.” He smiled at me and I feel a small flutter in my chest. It was genuine. And I smiled in return.
“How about treat me better first and I’ll consider thinking about it?”
“How about both? I haven’t truly been ‘mean’ to you in the past six months. Demanding? Yes. Slightly unreasonable with the scheduling time and getting upset about you refusing to sign my contract? Maybe.”
“Definitely.”
“Fine,” he said. “But I haven’t been ‘mean’ to you.”
“You’ve just done your best to keep me out of your sight and far away from you, because... Why? I ask. He shifted a little before responding.
“Because you were thinking about having me as much as I was thinking about having you.” And I nearly moan.
“Is that so?” I echo, a small flirty smile gracing my face.
“Exactly So.” A smile spread across his face. “I was only protecting myself.” He let me pass and walk out the door with a simple, “See you at 2 o’clock.” I had made it to the stairwell before I hear him call out again.
“And if you have anymore questions, complaints and.. Other things, be sure to email me.” He smiled and walked back into his office. 
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juditmiltz · 6 years
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Is South Florida’s co-working market reaching a tipping point?
(Illustration by Yifan Wu)
Eight years after launching one of the first co-working spaces in Miami-Dade, Michael Feinstein is under pressure. As deep-pocketed national competitors have aggressively moved into his territory, the founder increasingly sees the need to expand his brand, Büro, beyond the county line. Since 2015, New York City-based WeWork has taken up more than a quarter million square feet of office space in Miami-Dade, close to five times the square footage Büro occupies at its five locations, which range from 10,000 to 20,000 square feet.
Early in the first quarter of 2019, Feinstein will open the doors to Büro’s sixth co-working space — its first in Broward County — with a bet on a once-forgotten corner of Hollywood that is slowly emerging as an arts and culture hub. The South Florida co-working space pioneer is in the process of transforming an Art Deco building there, a former Holocaust education center and museum at 2031 Harrison Street.
Feinstein teamed up with Ecuador-based investor group Hanoy Holdings to purchase the three-story seafoam-colored structure in August 2017 for $1.15 million from the Hollywood Community Redevelopment Agency. “We feel it makes more sense for us when possible to own our space,” Feinstein said. “We are also working on owner-operator agreements with landlords similar to hotel owner-operator deals.”
Buying a building strictly for use as a co-working space reflects how this sector is evolving and trending nationwide. As the gig economy continues to expand and global Fortune 500 corporations seek office space on flexible terms, co-working companies like Büro are looking to own real estate or get into management-type leasing deals with South Florida commercial landlords. And in the past three years, high demand for co-working spaces has led to more competition in the tri-county region, as Büro and other local firms such as Pipeline are now vying against national players like WeWork and CIC as well as traditional executive suites providers such as Regus and Quest Workspaces.
“I still think there is room for growth,” Randy Carballo, a vice president for JLL, said. “We still have a little bit of runway. I don’t think we are overbuilt in the co-working space by any means.”
An analysis by The Real Deal of the top co-working firms by square footage in Miami-Dade County as of Oct. 30 shows that Regus takes the crown for most square footage, offering both co-working space and traditional executive suites. The company has 20 locations in Miami-Dade with a combined 367,211 square feet of space.
However, since opening its first location on Lincoln Road just three years ago, WeWork has been on an insatiable leasing binge. The firm came in second with five sites encompassing 304,709 square feet.
Quest Workspaces took the third slot with four locations totaling 96,072 square feet. CIC came in fourth with one 76,856-square-foot location, and Büro was the only Miami-based provider to crack the top five, with 65,000 square feet spread across five locations.
With WeWork muscling its way into Miami-Dade, Regus is countering with the rollout of its co-working brand Spaces. The first location will open in Q1 2019 in a 20,000-square-foot space inside MiamiCentral, the mixed-use project in downtown Miami that serves as the final stop for the high-speed train Brightline (now known as Virgin Trains USA), according to Carballo, whose JLL team represents Regus in South Florida.
In addition to MiamiCentral, Carballo said, Spaces has also inked deals for square footage at Cube Wynwd, an eight-story office building at 222 Northwest 24th Street in Miami being developed by RedSky Capital, and Las Olas Square, a mixed-use project at 501 East Las Olas Boulevard in Fort Lauderdale.
Courting corporate tenants
The co-working concept was founded on the principle of independent collaboration between freelancers and work-at-home professionals. But in recent years, in major markets like New York City, co-working spaces have increasingly been taken over by multinational corporations and Fortune 500 firms. CBRE, which closely tracks the co-working space industry, divided its rapid growth into three distinct phases: the “executive suites market” that predates 2009, the “birth of co-working,” which took off in 2012, and the “rise of enterprise,” which began in 2016.
For corporations, leasing space from co-working providers allows them to bypass rigid commercial leases, said Jaime Sturgis, CEO and founder of Fort Lauderdale-based Native Realty. “It’s a great way to minimize overhead with no long-term lease commitments,” he said. “It is also a good way for large companies to recruit and maintain talent.”
WeWork, for example, has made no qualms about aggressively pursuing “enterprise clients,” or companies of at least 1,000 employees, which account for a quarter of the New York City-based co-working space provider’s memberships and revenue, according to TRD’s reporting. Knotel doesn’t have a presence locally, but in New York City, San Francisco, London and Berlin, the firm has a high concentration of co-working space. Knotel never embraced the independent contractor model, and 95 percent of its customers are companies with multiple offices and more than 100 employees.
Even publicly traded brokerage firms and prominent landlords are getting in on the action. Tishman Speyer, one of the world’s biggest commercial property owners, has launched a co-working brand called Studio, putting it in direct competition with some of its own co-working tenants, including WeWork. In October, CBRE announced it was launching Hana, its own flexible management division.
While co-working’s proliferation may benefit corporate hubs like the Big Apple, the nature of South Florida’s workforce is different. In May, Fiverr, a marketplace for independent contractors and freelancers, released a study showing that the Greater Miami area — which in the analysis includes Broward and Palm Beach counties — has the largest share of self-employed workers, in terms of their contribution to metro GDP, of the 15 markets surveyed. Fiverr found that Greater Miami’s contingent of freelancers grew by 23 percent between 2011 and 2015 compared to 11 percent growth across the 14 other metro areas.
And in 2017, the Stephen S. Fuller Institute at Virginia’s George Mason University published a report that found the Miami-Fort Lauderdale metropolitan area leading the nation both in the growth and number of firms that don’t have employees. Between 1997 and 2015, the number of nonemployer establishments in the Miami metropolitan area rose 142 percent, more than twice the national average of 58.6 percent, the report found.
As a result of South Florida’s small business and independent contractor landscape, most shared workspace providers still largely rely on nimble professional services firms as clients. But major corporations are growing their presence in the region by opening satellite offices in co-working spaces, according to several brokers and co-working firm owners who spoke to The Real Deal.
“You have local players like Pipeline and Büro that have done a good job housing very local firms and some Fortune 500 companies,” Carballo said. “If you go into WeWork or Spaces, you will see Google, Spotify and Microsoft mixed in with tech startups and entrepreneurs.”
Pipeline owner Philippe Houdard said his member base is a broad cross-section of industries. “It is highly diversified,” Houdard said. “Some are well-known companies, like Postmates and HP. We also have the Latin American headquarters for Wendy’s. Then you have smaller businesses made up of lawyers, architects and other professional services.”
Wendy’s has been leasing space in Pipeline Doral for the past three years, and Postmates is located in Pipeline’s Coral Gables space, Houdard said. He said that while Pipeline doesn’t disclose lease terms, the company works with all its members individually based on their needs and requirements.
There’s a misconception in commercial real estate circles that co-working space providers only cater to startups looking to move out of a garage, opines Feinstein, Büro’s CEO. “Miami in particular has never been about tech startups, but really about smaller, successful companies like a three-person magazine or an eight-person architecture firm,” he said. “We cater to creative agencies. The corporate user is less interesting to us.”
That’s not to say Büro shuns corporate giants. The company has provided space to Uber, Airbnb and the Huffington Post, among other big brands. “But it is usually teams of five to 10 people, not 100,” Feinstein said. He declined to discuss how long the two tech companies have leased space at Büro and whether both are still tenants.
Stephen Rutchik, an executive vice president at Colliers International, represented WeWork in leasing 35,000-square-foot in an office building at 2222 Ponce de Leon Boulevard. He declined to reveal the lease terms, but said the company had no problem landing tenants for its fifth location in Miami-Dade since opening it this past February.
“They quickly filled up to 100 percent occupancy,” Rutchik said. “It is a healthy 50/50 mix of local tenants and corporate America enterprise users.”
Bobby Condon, general manager for WeWork’s Southeast division, said Fortune 500 companies represent about 30 percent of its South Florida member base. “That’s up from 20 percent in 2017,” Condon said. “The enterprise users see it as an amazing flexible platform to scale their business. They see it as an opportunity to be part of our community and the environment we create.”
As WeWork and Spaces plant outposts in South Florida, local firms are expanding farther afield in the state. In the first half of 2018, Pipeline opened sites in Orlando and Tampa, bringing its total number of locations to six since it opened its first space in Brickell six years ago.
“We are pretty close to capacity in our Miami-Dade locations,” Houdard said. “Orlando is going pretty well. We are at about 75 to 80 percent occupancy. And Tampa is in the ramp-up phase.”
Büro is also looking at expansion possibilities beyond Hollywood, Feinstein said. “Our model has been to open a new Büro every year since 2012, when we opened our second location,” Feinstein said. “We like to be in creative, mixed neighborhoods. And we are on the best corners. That is our model moving forward.”
Shifting moods among landlords
How landlords view co-working spaces’ tenants is a mixed bag. Some owners and commercial brokers said landlords are more than enthusiastic about signing leases or cutting management agreements with co-working firms. However, others believe there’s little room for continued growth in the sector. The landlords that had the most co-working space within their properties in Miami-Dade, including Allianz Real Estate of America (which, according to TRD’s analysis, has over 68,000 square feet dedicated to co-working space in the county) and Turnbridge Equities (with 95,000 square feet of co-working space in the county) did not respond to requests for interviews.
Pipeline Gables is currently home to logistics firm Postmates.
Co-working firms can provide many advantages and benefits for landlords, Colliers’ Rutchik said. For instance, clients of co-working space providers create foot traffic into an office building. “It seeds an office building in big way,” Rutchik said. “Hopefully, those tenants in a co-working space grow and expand even if they are not a direct tenant.”
Having a co-working space with an interesting mix of companies increases a building’s marketability, Houdard adds. “It is not uncommon for landlords to come in and show prospective tenants the Pipeline space,” he said. “And for companies that outgrow their Pipeline space, they may want to take space in the same building.”
In some cases, co-working firms are highly sought-after by the owners of major mixed-use developments, said JLL’s Carballo. “The smart landlords want a co-working service in their building,” he said. “If you look at all new construction, all new buildings or any buildings with major blocks of space available, they are targeting these big co-working space players.”
Still, some commercial property owners are starting to think the co-working trend in South Florida is nearing its peak, Carballo warned. “Because there are so many of these co-working players, some landlords are hyper-focused on credit,” he said. “That has affected the smaller, local shops. And some landlords are pretty risk-averse … They are not convinced of their long term-viability.”
And then there is the issue of pricing. Laura Kozelouzek, CEO of Quest Workspaces, said that with office rents in  the Greater Miami area at an all-time high, her firm is taking a more conscientious approach to expansion. The average asking rents in Miami-Dade reached peak levels at $39.17 per square foot, according to JLL’s Q3 2018 Office Insight report.
In the last two years, Quest has only opened two sites, for a total of four locations in South Florida. Each site has about 30,000 to 35,000 square feet, and the company has 96,072  square feet in Miami-Dade, putting Quest behind Regus and WeWork in total square footage.
“It’s quite possible you end up paying rates at the height of the market, which is a precarious position to be in should the market drop,” Kozelouzek said. “Operators in the co-working or executive suites space need to be mindful of real estate price. It is very much a landlord market at this point.”
from The Real Deal Miami https://therealdeal.com/miami/issues_articles/the-co-working-conundrum/#new_tab via IFTTT
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alfredrserrano · 6 years
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Is South Florida’s co-working market reaching a tipping point?
(Illustration by Yifan Wu)
Eight years after launching one of the first co-working spaces in Miami-Dade, Michael Feinstein is under pressure. As deep-pocketed national competitors have aggressively moved into his territory, the founder increasingly sees the need to expand his brand, Büro, beyond the county line. Since 2015, New York City-based WeWork has taken up more than a quarter million square feet of office space in Miami-Dade, close to five times the square footage Büro occupies at its five locations, which range from 10,000 to 20,000 square feet.
Early in the first quarter of 2019, Feinstein will open the doors to Büro’s sixth co-working space — its first in Broward County — with a bet on a once-forgotten corner of Hollywood that is slowly emerging as an arts and culture hub. The South Florida co-working space pioneer is in the process of transforming an Art Deco building there, a former Holocaust education center and museum at 2031 Harrison Street.
Feinstein teamed up with Ecuador-based investor group Hanoy Holdings to purchase the three-story seafoam-colored structure in August 2017 for $1.15 million from the Hollywood Community Redevelopment Agency. “We feel it makes more sense for us when possible to own our space,” Feinstein said. “We are also working on owner-operator agreements with landlords similar to hotel owner-operator deals.”
Buying a building strictly for use as a co-working space reflects how this sector is evolving and trending nationwide. As the gig economy continues to expand and global Fortune 500 corporations seek office space on flexible terms, co-working companies like Büro are looking to own real estate or get into management-type leasing deals with South Florida commercial landlords. And in the past three years, high demand for co-working spaces has led to more competition in the tri-county region, as Büro and other local firms such as Pipeline are now vying against national players like WeWork and CIC as well as traditional executive suites providers such as Regus and Quest Workspaces.
“I still think there is room for growth,” Randy Carballo, a vice president for JLL, said. “We still have a little bit of runway. I don’t think we are overbuilt in the co-working space by any means.”
An analysis by The Real Deal of the top co-working firms by square footage in Miami-Dade County as of Oct. 30 shows that Regus takes the crown for most square footage, offering both co-working space and traditional executive suites. The company has 20 locations in Miami-Dade with a combined 367,211 square feet of space.
However, since opening its first location on Lincoln Road just three years ago, WeWork has been on an insatiable leasing binge. The firm came in second with five sites encompassing 304,709 square feet.
Quest Workspaces took the third slot with four locations totaling 96,072 square feet. CIC came in fourth with one 76,856-square-foot location, and Büro was the only Miami-based provider to crack the top five, with 65,000 square feet spread across five locations.
With WeWork muscling its way into Miami-Dade, Regus is countering with the rollout of its co-working brand Spaces. The first location will open in Q1 2019 in a 20,000-square-foot space inside MiamiCentral, the mixed-use project in downtown Miami that serves as the final stop for the high-speed train Brightline (now known as Virgin Trains USA), according to Carballo, whose JLL team represents Regus in South Florida.
In addition to MiamiCentral, Carballo said, Spaces has also inked deals for square footage at Cube Wynwd, an eight-story office building at 222 Northwest 24th Street in Miami being developed by RedSky Capital, and Las Olas Square, a mixed-use project at 501 East Las Olas Boulevard in Fort Lauderdale.
Courting corporate tenants
The co-working concept was founded on the principle of independent collaboration between freelancers and work-at-home professionals. But in recent years, in major markets like New York City, co-working spaces have increasingly been taken over by multinational corporations and Fortune 500 firms. CBRE, which closely tracks the co-working space industry, divided its rapid growth into three distinct phases: the “executive suites market” that predates 2009, the “birth of co-working,” which took off in 2012, and the “rise of enterprise,” which began in 2016.
For corporations, leasing space from co-working providers allows them to bypass rigid commercial leases, said Jaime Sturgis, CEO and founder of Fort Lauderdale-based Native Realty. “It’s a great way to minimize overhead with no long-term lease commitments,” he said. “It is also a good way for large companies to recruit and maintain talent.”
WeWork, for example, has made no qualms about aggressively pursuing “enterprise clients,” or companies of at least 1,000 employees, which account for a quarter of the New York City-based co-working space provider’s memberships and revenue, according to TRD’s reporting. Knotel doesn’t have a presence locally, but in New York City, San Francisco, London and Berlin, the firm has a high concentration of co-working space. Knotel never embraced the independent contractor model, and 95 percent of its customers are companies with multiple offices and more than 100 employees.
Even publicly traded brokerage firms and prominent landlords are getting in on the action. Tishman Speyer, one of the world’s biggest commercial property owners, has launched a co-working brand called Studio, putting it in direct competition with some of its own co-working tenants, including WeWork. In October, CBRE announced it was launching Hana, its own flexible management division.
While co-working’s proliferation may benefit corporate hubs like the Big Apple, the nature of South Florida’s workforce is different. In May, Fiverr, a marketplace for independent contractors and freelancers, released a study showing that the Greater Miami area — which in the analysis includes Broward and Palm Beach counties — has the largest share of self-employed workers, in terms of their contribution to metro GDP, of the 15 markets surveyed. Fiverr found that Greater Miami’s contingent of freelancers grew by 23 percent between 2011 and 2015 compared to 11 percent growth across the 14 other metro areas.
And in 2017, the Stephen S. Fuller Institute at Virginia’s George Mason University published a report that found the Miami-Fort Lauderdale metropolitan area leading the nation both in the growth and number of firms that don’t have employees. Between 1997 and 2015, the number of nonemployer establishments in the Miami metropolitan area rose 142 percent, more than twice the national average of 58.6 percent, the report found.
As a result of South Florida’s small business and independent contractor landscape, most shared workspace providers still largely rely on nimble professional services firms as clients. But major corporations are growing their presence in the region by opening satellite offices in co-working spaces, according to several brokers and co-working firm owners who spoke to The Real Deal.
“You have local players like Pipeline and Büro that have done a good job housing very local firms and some Fortune 500 companies,” Carballo said. “If you go into WeWork or Spaces, you will see Google, Spotify and Microsoft mixed in with tech startups and entrepreneurs.”
Pipeline owner Philippe Houdard said his member base is a broad cross-section of industries. “It is highly diversified,” Houdard said. “Some are well-known companies, like Postmates and HP. We also have the Latin American headquarters for Wendy’s. Then you have smaller businesses made up of lawyers, architects and other professional services.”
Wendy’s has been leasing space in Pipeline Doral for the past three years, and Postmates is located in Pipeline’s Coral Gables space, Houdard said. He said that while Pipeline doesn’t disclose lease terms, the company works with all its members individually based on their needs and requirements.
There’s a misconception in commercial real estate circles that co-working space providers only cater to startups looking to move out of a garage, opines Feinstein, Büro’s CEO. “Miami in particular has never been about tech startups, but really about smaller, successful companies like a three-person magazine or an eight-person architecture firm,” he said. “We cater to creative agencies. The corporate user is less interesting to us.”
That’s not to say Büro shuns corporate giants. The company has provided space to Uber, Airbnb and the Huffington Post, among other big brands. “But it is usually teams of five to 10 people, not 100,” Feinstein said. He declined to discuss how long the two tech companies have leased space at Büro and whether both are still tenants.
Stephen Rutchik, an executive vice president at Colliers International, represented WeWork in leasing 35,000-square-foot in an office building at 2222 Ponce de Leon Boulevard. He declined to reveal the lease terms, but said the company had no problem landing tenants for its fifth location in Miami-Dade since opening it this past February.
“They quickly filled up to 100 percent occupancy,” Rutchik said. “It is a healthy 50/50 mix of local tenants and corporate America enterprise users.”
Bobby Condon, general manager for WeWork’s Southeast division, said Fortune 500 companies represent about 30 percent of its South Florida member base. “That’s up from 20 percent in 2017,” Condon said. “The enterprise users see it as an amazing flexible platform to scale their business. They see it as an opportunity to be part of our community and the environment we create.”
As WeWork and Spaces plant outposts in South Florida, local firms are expanding farther afield in the state. In the first half of 2018, Pipeline opened sites in Orlando and Tampa, bringing its total number of locations to six since it opened its first space in Brickell six years ago.
“We are pretty close to capacity in our Miami-Dade locations,” Houdard said. “Orlando is going pretty well. We are at about 75 to 80 percent occupancy. And Tampa is in the ramp-up phase.”
Büro is also looking at expansion possibilities beyond Hollywood, Feinstein said. “Our model has been to open a new Büro every year since 2012, when we opened our second location,” Feinstein said. “We like to be in creative, mixed neighborhoods. And we are on the best corners. That is our model moving forward.”
Shifting moods among landlords
How landlords view co-working spaces’ tenants is a mixed bag. Some owners and commercial brokers said landlords are more than enthusiastic about signing leases or cutting management agreements with co-working firms. However, others believe there’s little room for continued growth in the sector. The landlords that had the most co-working space within their properties in Miami-Dade, including Allianz Real Estate of America (which, according to TRD’s analysis, has over 68,000 square feet dedicated to co-working space in the county) and Turnbridge Equities (with 95,000 square feet of co-working space in the county) did not respond to requests for interviews.
Pipeline Gables is currently home to logistics firm Postmates.
Co-working firms can provide many advantages and benefits for landlords, Colliers’ Rutchik said. For instance, clients of co-working space providers create foot traffic into an office building. “It seeds an office building in big way,” Rutchik said. “Hopefully, those tenants in a co-working space grow and expand even if they are not a direct tenant.”
Having a co-working space with an interesting mix of companies increases a building’s marketability, Houdard adds. “It is not uncommon for landlords to come in and show prospective tenants the Pipeline space,” he said. “And for companies that outgrow their Pipeline space, they may want to take space in the same building.”
In some cases, co-working firms are highly sought-after by the owners of major mixed-use developments, said JLL’s Carballo. “The smart landlords want a co-working service in their building,” he said. “If you look at all new construction, all new buildings or any buildings with major blocks of space available, they are targeting these big co-working space players.”
Still, some commercial property owners are starting to think the co-working trend in South Florida is nearing its peak, Carballo warned. “Because there are so many of these co-working players, some landlords are hyper-focused on credit,” he said. “That has affected the smaller, local shops. And some landlords are pretty risk-averse … They are not convinced of their long term-viability.”
And then there is the issue of pricing. Laura Kozelouzek, CEO of Quest Workspaces, said that with office rents in  the Greater Miami area at an all-time high, her firm is taking a more conscientious approach to expansion. The average asking rents in Miami-Dade reached peak levels at $39.17 per square foot, according to JLL’s Q3 2018 Office Insight report.
In the last two years, Quest has only opened two sites, for a total of four locations in South Florida. Each site has about 30,000 to 35,000 square feet, and the company has 96,072  square feet in Miami-Dade, putting Quest behind Regus and WeWork in total square footage.
“It’s quite possible you end up paying rates at the height of the market, which is a precarious position to be in should the market drop,” Kozelouzek said. “Operators in the co-working or executive suites space need to be mindful of real estate price. It is very much a landlord market at this point.”
from The Real Deal Miami https://therealdeal.com/miami/issues_articles/the-co-working-conundrum/#new_tab via IFTTT
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47burlm · 7 years
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Websters defines visionary as-  “a person thinking about or planning the future with imagination or wisdom.”
October 5, 2011
On this day in 2011, Steve Jobs, the visionary co-founder of Apple Inc., which revolutionized the computer, music and mobile communications industries with such devices as the Macintosh, iPod, iPhone and iPad, dies at age 56 of complications from pancreatic cancer.
Born on February 24, 1955, in San Francisco, California, to unmarried graduate students Joanne Schieble and Abdulfattah Jandali, a Syrian immigrant, Jobs was adopted as a baby by Paul Jobs, a Silicon Valley machinist, and his wife Clara. After graduating from high school in Cupertino, California, in 1972, Jobs attended Reed College, a liberal arts school in Portland, Oregon, for a single semester before dropping out. He later worked briefly for pioneering video game maker Atari in California, traveled to India and studied Zen Buddhism.
In 1976, Jobs and his computer engineer friend Stephen Wozniak founded Apple Computer in Jobs’ parents’ garage in Los Altos, California. As Bloomberg News would later note about Jobs: “He had no formal technical training and no real business experience. What he had instead was an appreciation of technology’s elegance and a notion that computers could be more than a hobbyist’s toy or a corporation’s workhorse. These machines could be indispensable tools.” In 1977, Jobs and Wozniak launched the Apple II, which became the first popular personal computer. In 1980, Apple went public and Jobs, then in his mid-20s, became a multimillionaire. Four years later, Apple debuted the Macintosh, one of the first personal computers to feature a graphical user interface, which allowed people to navigate by pointing and clicking a mouse rather than typing commands.
In 1985, Jobs left the company following a power struggle with Apple’s board of directors. That same year, he established NeXT, a business that developed high-performance computers. The machines proved too pricey to gain a wide consumer audience; however, British computer scientist Tim Berners-Lee developed the World Wide Web using a NeXT workstation. In 1986, Jobs acquired a small computer-graphics studio founded by filmmaker George Lucas and rechristened it Pixar Animation Studios. In 1995, Pixar released its first film, “Toy Story,” the first-ever feature-length, computer-animated movie. It became a huge box-office success and was followed by such award-winning hits as “Finding Nemo” (2003) and “The Incredibles” (2004). In 2006, Walt Disney Company purchased Pixar for more than $7 billion, making Jobs the largest Disney shareholder.
In late 1996, Apple, which had floundered without Jobs, announced it would buy NeXT and hire Jobs as an advisor. The following year, he became Apple’s interim CEO (the “interim” was dropped in 2000), and under his leadership a nearly bankrupt Apple was transformed into one of the planet’s most valuable corporations. A charismatic, demanding perfectionist, Jobs was said to possess the ability to intuit what customers wanted before they knew it themselves. In his trademark jeans and black mock turtleneck, the tech titan turned product launches into highly anticipated events, and Apple introduced a series of innovative digital devices, including the iPod portable music player in 2001, the iPhone in 2007 and the iPad tablet computer in 2010, that became part of everyday modern life. (In early 2007, Jobs announced that Cupertino-based Apple was dropping “Computer” from its official moniker to reflect the fact the company’s focus had shifted from computers-only to mobile electronic devices).
Despite a series of medical issues, including surgery in 2004 to remove a pancreatic tumor and a 2009 liver transplant, Jobs continued to lead Apple until August 24, 2011, when he stepped down as the company’s chief executive. Six weeks later, he passed away at his Palo Alto, California, home. At the time of his death, Jobs, a father of four, had a net worth estimated at more than $7 billion. According to biographer Walter Isaacson, Jobs “was the greatest business executive of our era, the one most certain to be remembered a century from now. History will place him in the pantheon right next to Thomas Edison and Henry Ford.”
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dipesh24patel-blog · 6 years
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Inspirational Steve Jobs quotes for entrepreneurs
Successful entrepreneur quotes are always inspiring people. Steve Jobs quotes are always inspiring youth and entrepreneur. Quotes of Steve Jobs will help you in your entrepreneurial journey. Below Steve Jobs quotes will not only motivate you in business life but also in personal life.
Steve Jobs is the ideal entrepreneur for many entrepreneur and Steve Jobs amazing quotes will always inspire present and future generation.
Steve Jobs is among the top the influential leader, smart marketer, innovator and entrepreneur. His life journey and ups and down teach us so many things in life.
About Steve jobs:
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Steve jobs (Steven Paul Jobs) was an entrepreneur, innovator and business personality from USA. He was born in February 24, 1955 at San Francisco, California, US. Steve jobs founded Apple Inc. with his friend Steve Wozniak. Their 1st computer was built in garage of Jobs’ parents that is Apple I. They sold over million plus units of Apple II which gained fame for him and make wealthy in short period of time.
Steve Jobs was forced out of Apple Inc. in 1985 after a long power struggle with John Sculley.Then Jobs has started two company NeXT and another company called Pixar. In 1995 Pixar produced Toy Story, the first fully computer-animated film.
In 1997 Apple merged with NeXT, Jobs became CEO of Apple within a few months and rest is history.
After that Apple had launched breathtaking, innovative and advance products with “Think different” advertising campaign.
iMac, the iPod, the iPhone and the iPad and many more. This product’s design and technology bring back Apple and Steve jobs in limelight.
In 2003 Jobs was diagnosed with a pancreatic neuroendocrine tumor. During this time he still managed to personally introduce the iPhone and the iPad keynotes. His iPhone launch keynotes was consider to be one of the great marketing speech all the time.
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He died at his home in Palo Alto, at age 56 on October 5, 2011, of respiratory arrest related to the tumor.
In honor of Steve Jobs, the late co-founder of Apple, here’s a list of his most memorable quotes of Steve Jobs that will push you to your ultimate goals.
Setve Jobs Quotes:
Your time is limited, so don’t waste it living someone else’s life. – Steve Jobs
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Don’t be trapped by dogma – which is living with the results of other people’s thinking. – Steve Jobs
Stay hungry, stay foolish. – Steve Jobs
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Being the richest man in the cemetery doesn’t matter to me. Going to bed at night saying we’ve done something wonderful, that’s what matters to me. – Steve Jobs
Innovation distinguishes between a leader and a follower. – Steve Jobs
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Everyone here has the sense that right now is one of those moments when we are influencing the future. – Steve Jobs
Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. – Steve Jobs
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That’s been one of my mantras – focus and simplicity. Simple can be harder than complex. – Steve JobsDetails matter, it’s worth waiting to get it right. – Steve Jobs
Sometimes life is going to hit you in the head with a brick. Don’t lose faith. – Steve Jobs
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You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains. – Steve Jobs
Related : Powerful Quotes of Entrepreneurs That Will Motivate Your Entrepreneurial Pursuits
I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance. – Steve Jobs
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Deciding what not to do is as important as deciding what to do. – Steve Jobs
We’re here to put a dent in the universe. Otherwise why else even be here? – Steve Jobs
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Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. – Steve Jobs
If you really look closely, most overnight successes took a long time. – Steve Jobs
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I think if you do something and it turns out pretty good, then you should go do something else wonderful, not dwell on it for too long. Just figure out what’s next. – Steve Jobs
Let’s go invent tomorrow instead of worrying about what happened yesterday. – Steve Jobs
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Things don’t have to change the world to be important. – Steve Jobs
We hope above “Steve Jobs quotes” will help and motivate you in your personal and entrepreneur life.
Source: http://www.desientrepreneurs.com/inspirational-steve-jobs-quotes-entrepreneurs/
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ramialkarmi · 7 years
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The 32-year-old who sold his first company for $80 million and a second for $2 billion talks about writing to Richard Branson, how he's a terrible employee, and why he never intends to build companies to sell them
Nat Turner agreed to sell his company, Flatiron Health, to healthcare giant Roche in February for $1.9 billion.
Flatiron Health creates software for cancer centers that organizes patient data and makes some of it available to researchers, which supplements the results of clinical trials.
Turner has been an entrepreneur since he was a kid, with thriving website-building and snake-breeding businesses.
He explained how his cousin's battle with leukemia inspired him to create Flatiron and reevaluate his career.
Nat Turner was 24 when he sold his first company, for $80 million. He just sold another, in February, for $1.9 billion.
Turner, now 32, is the cofounder and CEO of Flatiron Health. It's a company that's trying to change the way cancer researchers collect data, with the hope of transforming the way patients are treated.
In an interview for Business Insider's podcast, "Success! How I Did It," Turner explained that he and his longtime business partner, Zach Weinberg, were inspired to start the business in 2012 shortly after Turner's younger cousin was diagnosed with leukemia. The boy's father asked Turner and Weinberg, as tech guys, why it was so difficult for him to find information about childhood-cancer treatments and their effectiveness over the years.
Flatiron Health creates software for cancer-treatment centers, with the aim of helping doctors track patients' progress and figure out what's working and what isn't. Flatiron's programs allow patients' data to be shared with researchers, offering supplementary information to results of clinical trials.
It's a unique approach that caught the interest of the US Food and Drug Administration, which teamed up with Flatiron in 2016.
Turner told us he's always been an entrepreneur — he had a thriving snake-breeding business as a kid — but he feels emotionally connected to Flatiron in a way he never was with his past companies. Not even the birth of his daughter could keep him from finishing the sale to healthcare giant Roche.
Listen to the full episode here:
Subscribe to "Success! How I Did It" on Apple Podcasts, Google Play, or your favorite podcast app. Check out previous episodes with:
XPRIZE founder Peter Diamandis
Facebook cofounder Chris Hughes
KPMG chairman and CEO Lynne Doughtie
Craigslist founder Craig Newmark
The following transcript has been edited for clarity.
Nat Turner: A lot of the negotiations occurred when my wife and I were in the hospital.
Richard Feloni: Really?
Turner: Yeah.
Feloni: So you're in the hospital.
Turner: I was ducking out to take calls in the hallway.
Feloni: As your child was being born?
Turner: Yeah.
Feloni: Did your wife forgive you for ducking out of the delivery room?
Turner: Yeah! She did, she did. You know, she was with me when we sold our last business. She knows that it's a sprint to the finish line, and then once you get to the finish line you're kind of back to normal.
Trailers full of snakes and a letter from Richard Branson
Feloni: Looking back on your life, have you always been entrepreneurial?
Turner: Yeah, for sure. I've always had hobbies. Very passionate person. I can't do anything half-assed — pardon my language. But yeah, those things — hobbies — usually turn into businesses or those passions usually turn into businesses. I don't know why, but it's a pattern I've noticed in myself.
Feloni: There's one that I saw on your website where it was something about reptile breeding.
Turner: Oh, God. Yeah.
Feloni: What was going on there?
Turner: Ninety-nine was when I think I started the company, so I think I was 12 or 13. I had snakes as pets and I was — it makes more sense to describe — I was in Louisiana. So, I mean, it's not weird in Louisiana to have a snake! Maybe in New York. But yeah, I just started breeding snakes to sell them. Pet stores, collectors — believe it or not it's a huge industry. Back then it was even bigger.
Feloni: Did you make a good amount of money?
Turner: For a 13-year-old, sure, but I wasn't going to support a family or anything.
Feloni: Did your parents know about this?
Turner: Of course. I had hundreds of snakes.
Feloni: Hundreds? Where did you keep these?
Turner: A lot of places. I had maybe a hundred in my bedroom, believe it or not. In stacked cages. Our garage. Actually a business partner of mine, we built a warehouse — it was really trailers that we put together, trailer homes that we converted, really he converted — and I kept some of my snakes there. It was a real business for him. I was more of a consultant with him. Helping him with his inventory.
Feloni: His 13-year-old sales consultant.
Turner: At that point I was probably 15, 16. But actually that's where I learned how to make websites. The first website I built was for my snake-breeding company. And then other snake breeders liked it and I started making their websites, and the rest is history.
Feloni: So how long could that have lasted?
Turner: Until high school was over. And then I realized that it's not cool to be in that industry.
Feloni: Trailers full of snakes, yeah.
Feloni: When you were a kid doing things like that, turning hobbies into businesses, what did you want to be when you grew up?
Turner: I don't ever really remember thinking that far ahead. I'm very opportunistic and optimistic, so I just take the opportunities as they come. I didn't really have a grand plan. I knew I wanted to go into company-building. I knew I wanted that to be in technology. I didn't have a great sense for in what industry.
So, for example, I went to high school in Texas, and I knew I wanted to get out of Texas because — no offense — but it just didn't have a great technology scene. It does now, with Austin.
Feloni: Yeah.
Turner: But it didn't have a great technology scene, and so I went to the best business school I could get into, and that was my chance. I knew I wanted to be an entrepreneur; that was really it.
Feloni: When did you know that?
Turner: Oh, when I was 12, 13. My dad quit a job, I think, right around when I was in middle school, and started his own company, and that was inspiring. And I was a voracious reader of Forbes and Fortune magazines. You guys weren't around then, unfortunately!
And I was just fascinated by people like Bill Gates and Steve Jobs and Richard Branson. And these were people I used to write letters to, and I remember asking Branson for an internship. He was, like, "I really wish I could. You're too young. When you're in college, perhaps reach out to me." And, you know, that kind of thing.
Feloni: That's pretty cool.
Turner: Yeah, it was cool. It could have been a secretary responding, but it meant a lot to me at the time.
Feloni: Well, still.
Turner: Got his autograph at least!
Feloni: Did that serve as a validation for this is where you want to be?
Turner: In a small way, yeah. The biggest validation for me was actually building things that people liked, like the websites. I built a lot of websites, probably 50 to 75 websites, somewhere in that range.
Feloni: As a teenager?
Turner: Yeah, for customers. I was a web-design firm. I built a public-company website for an oil-and-gas company that they talked about in their earnings call. That was really cool. There were little moments like that were the most, "Oh, I might be good at that" or "Maybe if I work a little harder — I'm even better."
And, hey, I was making a little money. There's no better validation than someone liking your work then paying you for it, and so I think that was more of it.
Finding the perfect business partner
Feloni: And even when you were in school at Wharton you continued building businesses?
Turner: Oh, yeah. I met Zach, my current business partner. This is 2004. Our first day of school we were in the same writing class. It was a class that you had to get into ahead of time because it was so popular — for athletes mainly, because it was the easiest class to fulfill your writing requirement. You had to watch a movie and then write a paper about the movie, and they catered dinner. It was at 5:00 p.m.
Feloni: They catered dinner and you watched a movie?
Turner: Yeah. It's incredible.
Feloni: Sounds like a great class.
Turner: And we were the only two, maybe a few others, nonathletes in the room, and we stood out like a sore thumb. We started talking one night walking home from class. He found out I could build websites and I was into starting companies.
I did another thing at the end of high school: I ran gift-card trading online as a website. We had just sold that, and he's, like, "Oh, I have some ideas too." And we started brainstorming. He's one of the best product and startup guys I know, to be honest. And even then he was so good at it. And we hit it off and have very complementary skills.
But we started Eat Now, which was a food-ordering website, kind of like Seamless for campuses.
Feloni: And that was your first?
Turner: His and my first company. It didn't do great, but it was a great learning experience.
Feloni: And then the second one that you did was Invite Media?
Turner: Yeah. We started that junior year. Pivoted like eight times. It was first a Facebook app analytics company, then it became — so many different iterations — but ultimately it became a demand-side platform for banner ads.
Feloni: That gets to your point when you were saying that you're an entrepreneur who's opportunistic and optimistic, that combo. Is that what just led you to "Maybe this doesn't work — this might work"?
Turner: Well, the biggest thing Zach and I do, and I think we do it better together than individually, is we're very contrarian. We just ask a million questions, and we question — not just ask questions, but we question things. Like, "Why is it that way?"
I don't really know we did that ever intentionally. It's just our personalities, especially when we're together. We just like figuring things out and finding out if it's not smoke and mirrors. So it turns out a lot of the ad world at the time was smoke and mirrors.
Feloni: Yeah.
Turner: Ad networks, ad arbitrage, a lot of manual work behind the scenes. We started meeting these really wonderful people who took us under their wing and they taught us about ads, real-time bidding, and the rest is history there.
Selling to Google for $80 million, and growing bored
Feloni: So that sticks, and then a few years later, in 2010, Google buys Invite for $81 million, right?
Turner: Yeah. So that was, like, three years on the dot, like within a day or two of when we started the company and we had — we were only 55 people, largely engineering. We, Zach and I, and basically 50 engineers, for the most part.
And, yeah, we show up at Google, they hand us all new laptops, show us our desks — very different than the deal we're doing now. It was not a subsidiary. I mean, we were being integrated into DoubleClick, which is an amazing platform.
Feloni: Yeah, that's Google's platform.
Turner: Right. Yeah, and the overarching guy there was Neal Mohan, who's now, I think, running YouTube's product. And we slotted in so well there — I mean, not personally, but the products.
Zach and I are terrible employees, but we became product managers, he and I. The team no longer reported to us. After about nine months to a year — again, we're horrible employees — I think we drove Neal up a wall with our sense of urgency and just wanting to just break things, move fast.
Feloni: Just getting antsy?
Turner: Well, we just wanted things to happen in a particular way because we're very used to making quick decisions and all that. Again, credit to Google; they rebuilt the system, and it's a very powerful platform now.
And Zach and I moved on after two years. But the final year with Neal and GV's — Google Ventures' — blessing we started researching our next idea. Which is Flatiron.
Feloni: So you're only 24 years old when this deal happens?
Turner: Yeah.
Feloni: Did that kind of change your perspective on what you wanted to get out of your career? Was this something expected? How did you deal with that? Like being in basically a new playing field?
Turner: We never build companies to sell them. We build the best company you can and hopefully they get bought one day. The biggest thing I got out of it was the win under our belt — validation that we know how to build something. Recruiting — we made a lot of great friendships and professional relationships with people at Google and at Invite and many of them helped us or work with us at Flatiron. It helped us with fundraising. It gave us a platform to think about what's next in a much more free way.
When you're 22 and you're thinking about, "How am I going to afford my apartment?," you really have to jump on the thing that is going to get you there quickest. When you get just a little bit of money and you get that platform and that brand behind you, you can really think big.
Zach and I always say Flatiron, if it was our first company, would have been a terrible disaster. We would never had been able to raise the seed round that we did. We never would have been able to recruit the people we did. We never would have attracted GV as an investor. Those kinds of things happened because of that prior experience.
Feloni: So it seems it was less like a big celebration than more just kind of giving a chance to think even bigger.
Turner: Yeah, exactly.
Feloni: Be a little more comfortable?
Turner: Yeah. And we always say, our obituary one day, when we die: We don't want to say we optimized banner ads online. For us it was we had to get to the next thing.
Realizing helping cancer patients is better than improving banner ads
Feloni: So why Flatiron as your next project? Why cancer?
Turner: I remember we had a whiteboard at Google. They gave us this little office — probably to contain us. Zach and I and this whiteboard. And we knew we were going to start another company. There was no question.
Feloni: How much longer did it take for you to realize it?
Turner: An hour.
Feloni: Seriously?
Turner: Yeah!
Feloni: Like day one.
Turner: Of course!
Feloni: So you're brainstorming. What's that like?
Turner: We were angel investing. We probably invested in 30 to 40 companies. We told the entrepreneurs, selfishly, "If you lose the money it's OK. We are mainly selfishly trying to learn from you." We put this money into various industries. We just really were trying to spread our wings, get our mind around different problems.
We started putting money in healthcare. Because that was an obvious thing. And we started looking at a lot of different plays, like insurance and all sorts of stuff.
I have a cousin, Brennan Simkins, who was diagnosed with AML [acute myeloid leukemia], and he was actually being treated toward the end of the Invite experience.
Feloni: How old was he?
Turner: Seven. And they misdiagnosed him twice.
Feloni: Wow.
Turner: They thought he had aplastic anemia and then ALL [acute lymphoblastic leukemia], if I remember correctly. And my dad's family is from Georgia. He's in Georgia. Not a very rural part of Georgia — Augusta, I think the second largest city in the state. But pediatric leukemia is not a super-common thing. And so they had to travel around. They were treated at Emory for a little while, but they ended up at St. Jude. He got four bone-marrow transplants.
Feloni: Wow.
Turner: In the span of 18 months. He's a wonder kid. He made it! He's done great. But his dad asked me a very simple question — actually Zach and me. "A few hundred kids get this every year. What drugs do they get, and do they work? I can't find any information."
He probably didn't realize it, but that simple question actually spurred the whole chain of events. We ended up discarding all the other ideas. We had 50 ideas on this whiteboard.
Feloni: Yeah, you were saying the whiteboard.
Turner: We had insurance on there, we had medical malpractice on there, we had an idea around anesthesia, an EMR [electronic medical records] for anesthesia, we had tons of ideas. Second-opinion service, which actually Grand Rounds is doing now, is a very similar idea to that. You name it. We had tons of ideas on that board.
The first floor of Google, in New York, probably still is, is actually a cancer center. You can take the elevator down to the first floor and you're right in the cancer center. So we met this doctor, Michael Grossbard, who I think now is at NYU. He allowed us to shadow him when he saw patients.
We went to Boston, Krishna [Yeshwant] from GV and another adviser of ours, Vivek Garipalli, who had a lot to do with this, would come with us and chaperone us to add some credibility. We'd meet 20 people a day — oncologists, researchers, pharma companies — while we were employees. We were just obsessed with it. I remember, like, you don't often get so obsessed about something where you drop everything and drive to Boston and meet with people for 14 hours, taking notes, losing your voice, with no idea just to learn.
Feloni: When being opportunistic is such an integral part of being an entrepreneur did it feel different that this was — you were being driven by purpose, if you're making these trips?
Turner: Oh, for sure. I mean the end result, if we were going to be successful, was going to be, instead of a better click-through rate, it was going to be cancer patients got better outcomes.
I remember talking about it all the time before the cancer thing we picked. We just wanted something mission-oriented. I don't know. I think we were so burned out from ad tech it was almost like an overcorrection! Not that ad tech's bad — it's created a lot of jobs and it drives how the internet publishers make money. There are a lot of good things about it, but we were a little jaded — disillusioned — by it.
Making the biggest deal of his life
Feloni: What is it like after this deal with Roche, for Flatiron, compared to what you felt like after the Google deal?
Turner: It's actually very different. Roche has promised us full autonomy and greater resources. It's basically a funding round. We get to invest in the company, and we have access to the broader Roche group of companies, like Foundation Medicine and others, where we can build partnerships.
Unlike the Invite transaction, where we went from having the whole company to no one within 24 hours, here nothing's really changed. I show up to work today and I have the same one-on-ones, I have the same client calls, I have the same team meetings, the same leadership team meeting, and it's business as usual.
Feloni: So more validation than anything?
Turner: Yeah. Like I said before, it's validation that the work we did and are doing is important. It gives us resources to continue the mission. It provides us access beyond capital, such as partnerships, data access, et cetera, that will allow us to get to the finish line faster.
People asked us at the all-hands when we announced it, "Everyone still works for Flatiron?" We had to remind them [that we remained the same company]. It's very important to people that it's still Flatiron. Which just makes me so proud.
Because the brand has become known as — we're a very science- and research-driven company and everything we do is to work that evidence-driven mission. You just look at our mission statement. We want to learn from every cancer patient, and for the benefit of future patients.
Feloni: Have you talked to your cousin about this?
Turner: Yeah. Well, he's in high school.
Feloni: How old is he now?
Turner: I think he's 15. When he's 18 or 19, I'll have more substantive conversations with him. I think he realizes that he was the inspiration for it. We've had him to the company a number of times. He has our swag. We send him swag all the time.
Feloni: Yeah.
Turner: He's actually a shareholder, too.
Feloni: Have you talked to his father about this too?
Turner: Oh, yeah. All the time.
Feloni: What do they think?
Turner: You know, I think they're proud that while they went through an incredibly difficult experience, that at least something very positive came out of it. They can help others.
Feloni: I saw that you told a business-leaders group, "Being an entrepreneur in healthcare takes total rethinking so you can't be on the inside. My advice is don't go to medical school. Change is going to come from the outside." What do you mean by that?
Turner: Yeah, I mean, look, it's a little extreme, but to make a point. Which is, I think it's true in most industries, a lot of innovation occurs when you rethink things. People can get stuck in their ways and build bad habits or whatever. And it's healthcare; it's a regulated industry.
A lot of it has become what it is because of — you call them bad decisions or not, bad system design, how things are reimbursed, and all that kind of thing. Medical school trains you to be a doctor; it doesn't train you to be a businessperson and build companies. Krishna on our board is an internal-medicine doc but also an MBA from Harvard, and he got both at the same time. That's really rare. Not a lot of doctors get that sort of opportunity. Not that doctors are bad at this, in business. They just didn't get the training.
So you're just at a disadvantage. You've far exceeded, hugely, in terms of your clinical knowledge, but you have a long way to catch up [in business]. And that's the problem. You get a lot of the clinical approach to problems. Which again, there's a time and a place for — patient care, hospitals, et cetera — but if something's a software problem, such as cancer data, it's not going to be solved by the industry. It's going to be solved by — hopefully not just tech people, it could be any industry — but someone coming in rethinking how the current system's designed.
I'll say, though, healthcare is interesting. You can't disrupt things. You can't "move fast and break things," right?
Feloni: Yeah.
Turner: Patient data is a serious thing. You can't break an EMR because the oncologist needs it to treat their patient. So we used this phrase "thoughtfully disrupt," where it's — we're still disrupting, we're innovating — but we're not causing disruption in the clinic. We're disrupting the industry perhaps, but in a much more balanced way.
Feloni: What do you think of the state of healthcare in America right now?
Turner: Disarray. It's unclear what the future is. I think utilization and costs and all sorts of stuff are issues, and uninsured [people] is a scary problem, or underinsured. I wish I knew how to fix it. I think most people would throw their hands up because it's just so complicated. I think there are a lot of people who are getting away with, not with murder, but with excess profits and there needs to be change in some way, shape, or form.
Feloni: So when you're connected so intimately to the issue now, are you going to be with Flatiron for the long haul?
Turner: Oh, for sure. This is a multiyear commitment, not just on paper, but also mentally. Flatiron's not just a company for us; it's much more than that. In some ways, it's our life's work, even though we're still relatively young.
Feloni: Is there an impulse in there somewhere of wanting to do a million things at once?
Turner: We'll have our hands in things like we always have. We're still angel investing, we're still advising, we're still helping companies get started.
Feloni: OK.
Turner: One of the coolest things is now that we're over five years old, a few employees have started to peel off to start their own companies and we're helping them. And, thankfully, a lot of them are going into healthcare, some even in cancer. So that will keep us, I think, pretty busy.
Feloni: And on that note, of the partnership you and Zach have. I've seen so many stories where you have two best friends, they start a company, as soon as their little hobby becomes a serious business there's a clash and they become enemies. How did you figure out how to make this work and still stay friends?
Turner: Zach and I, it's not all rosy and we certainly have our ups and downs, like any marriage. Zach and I like to joke to our wives that they're the second wives.
We've been very lucky. We've figured out what we're each good at, and one of our biggest — I mentioned this contrarian thing. One thing Zach and I are, we're very paranoid. Which drives us, maybe to a fault.
At Invite we were at the office most nights to 2:00 and 3:00 in the morning and most of the time it was doomsday scenarios like, "What if this company does that? What if that company does this? We're going to die if Google buys this company and not us. It's just maybe in our own head, but I mean we're very, very paranoid. And even at Flatiron for the first four —
Feloni: You still having those 3:00 a.m. mornings?
Turner: It's waned or it's gotten less bad over time just because we've thankfully been able to build a very sticky platform.
At the very beginning we were, like, "Wow, we didn't even know this company existed, and their website says they're doing the exact same thing as us!" So for about an hour you think, "Why are we even doing this? Someone's already doing it." And then you find out that that company's just a website and it's a part-time doctor in their spare time. But their website's spot on!
Or "Oracle's getting into this space," but then you realize that's OK; we can compete with Oracle.
Feloni: Has this kind of survival instinct — do you still have it?
Turner: Yeah, we do. I mean, look, the thing that's driving us is competition. We love competing. We love questioning things. We love shining light on things. We love building things.
There's nothing better than the response from a customer or patient when they're, like, "That's actually what I'm looking for." That's what drives us. Ultimately less the economics.
And so those are all still true, right? I mean we're very still much in a battle. Which is great for patients. There are lots of companies competing to build the best platform — the best drug-discovery platform, the best database, the best evidence-generation platform — and that's only going to be great for cancer patients.
There are companies coming in from alumni from Google five and a half years after we did, but that's OK. They're onto it now. But that's great. It's going to make us drive. It's going to make us build things better and faster and ultimately that will keep Zach and me pretty excited.
Driving success with purpose
Feloni: Do you have any advice for entrepreneurs who are pursuing their own businesses right now?
Turner: It's easy for me to say, but if you have the opportunity to do it, do something mission-oriented. Everything's easier. It's easier to recruit, it's easier to fundraise, if you truly care about what you're — don't just pick a random mission, something you care about. It's so much more rewarding.
You can build a for-profit company that's very rewarding economically for you and your employees, which will lead to better employees in terms of recruiting.
But look, it's easy for me to say. Invite had so much to do with our Flatiron success, and while I don't love the mission that we had there, it's what made us successful here.
So if you have to start a company in a space more opportunistically, it is what it is. But at some point in your career get to that point where you start a company that's mission-oriented.
Feloni: Well, has your shift from that changed your concept of what it means to be successful?
Turner: Yeah. To some degree you need resources to be successful in this country. It takes money to make money. You've got to invest. You've got to have capital. That's how the world works, and that's totally fine.
But, yeah, there's a greater — I feel more rewarded about Flatiron, beyond the money potentially everyone could make over time, because of the fact that we're actually making a difference in cancer. That's what matters most.
Feloni: Is that going to have to define all of your pursuits at this point in your life?
Turner: That's a good question. I've been thinking a lot about that.
Zach and I are doing a lot of angel investing still. We haven't really slowed down. We certainly direct our angel investing toward things that are more mission-oriented or create jobs not just help smart software engineers get a more higher-paying job. If we ever start a company again, if we ever help start a company, it's going to probably be something, if I had to guess — we're addicted to the mission-orientation thing now.
Feloni: Thank you so much, Nat.
Turner: Yeah, of course.
SEE ALSO: One of tech's most prolific entrepreneurs reveals how he and Elon Musk are trying to eliminate illiteracy, and why he thinks human placentas may hold a key toward 'an indefinite human life span'
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Leadership Journey: Steve Jobs
Steve Jobs epitomizes the daring and creativity of the tech industry’s pioneering entrepreneurs. Idolized by many, he has become an almost mythological figure – a knight crusading for innovation and immaculate design. As CEO of Apple, Jobs created one of the most valuable and admired companies in the world and, along with it, a series of amazing products, including the iPhone.
But who, exactly, was the man behind the myth? A good many tales have been told. Some saw Jobs as a genius and visionary leader, while others thought he was a pompous jerk, a single-minded perfectionist or a stubborn half-genius, half-asshole. This is the story of how Steve Jobs became the Steve Jobs we think of today.
Steve Jobs had an early knack for technology.
Steve Jobs was born on February 24, 1955, in San Francisco – and, shortly thereafter, he was put up for adoption by his biological mother, Joanna Schieble. As a result, he grew up the son of Paul and Clara Jobs, a working-class couple.
Being adopted by Paul and Clara may have greatly contributed to his later work, since Jobs quickly developed a keen understanding of technology. Because his father was a car mechanic and craftsman who made furniture, there was a workbench in the family’s garage and Jobs’s father taught him how to build things, take them apart and put them back together again. This education served him well; later in life, when he was showing the iPod to friends, Jobs reminisced about how his father told him to work as diligently on the underside of a cabinet as on its finish.
Jobs was also smart as a whip. He skipped sixth grade and was naturally drawn to math and science. Because of his demonstrated skill in these subjects, he was accepted into the Explorers Club, a group of kids who worked on electronics projects on the Hewlett-Packard campus. It was here that Jobs used a computer for the first time.
He was clearly precocious, so it’s no surprise that he was just 21 years old when he and Stephen Wozniak founded Apple.
The pair met in 1969 when a friend introduced Jobs to Wozniak, or “Woz,” an engineering genius and the son of a Lockheed Martin engineer. At the time, computing was anything but personal and computers didn’t even have keyboards or monitors. Woz recognized these shortcomings and Jobs knew they could build a better computer for home use.
So they set up in Jobs’s parents’ garage and began working on their first model, the Apple 1. They invited in a few kids from the neighborhood to assemble it and pretty soon they had a miniature assembly line going. They named the new company Apple – a nod to both the Garden of Eden and an Oregon apple orchard and commune that Jobs frequented after high school.
Apple quickly churned out a second computer, and the company became one of the fastest growing start-ups in history.
In founding his own company and designing the Apple 1, Jobs had discovered his purpose in life. He and Wozniak even convinced a local small-business owner to distribute their machines. Soon enough, they were selling a dozen computers every few weeks. Fewer than two hundred units of this first model were ever sold, but this success was nonetheless energizing.
Riding the momentum of their first attempt and Wozniak’s assurance that he could build a much better machine, they went to work on their second computer, the Apple II.
To fully realize Wozniak’s plan, however, they needed some serious capital, a problem they soon solved when Jobs won over A.C. “Mike” Markkula, a former Intel executive. This angel investor handed the pair a then whopping $92,000 out of his own pocket and set up a $250,000 line of credit for the young company.
Beyond that, Markkula also hired Michael “Scotty” Scott, who would become Apple’s first professional CEO and the company moved out of Jobs’s family garage and into a real office in Cupertino.
There, with their new professional assistance and start-up money, they focused on their vision to build a truly personal computer. In 1977, their hard work paid off and the Apple II was released. The new model came with a significantly faster microprocessor, which boosted performance, along with an audio amplifier and speaker as well as inputs for a gaming joystick.
But more importantly, as it was designed to be a personal computer, it didn’t make the frightening sounds of an industrial machine and it came packed in a single, manageable box. In combination, all these features made it a huge retail success.
Pretty soon, Apple was one of the fastest growing start-ups in history. In fact, soon after the Apple II was released, in April of 1977, the company was selling some 500 computers every month! From there, their sales rose from $7.8 million, in 1978, to an incredible $48 million, in 1979.
A series of product failures resulted in Jobs’s forced exile.
In the late 1970s, Jobs’s life was a rollercoaster; he was in his early twenties and he had thrown himself full throttle into his career, forgoing a social life and even going without sleep.
In many ways it paid off and, when Apple went public in 1980, Jobs’s shares made him worth $256 million. However, by icing out early contributors like Bill Fernandez and Daniel Kottke, Jobs isolated himself within the company. And then he and Wozniak began to grow apart.
Jobs was in urgent need of another breakthrough product, but the company simply couldn’t deliver. First, in 1980, they came out with the Apple III, the successor of the much-lauded Apple II. However, unlike its predecessor, this third model was an absolute disaster; it had an insane price tag of $4,340 and was prone to catastrophic overheating.
After the Apple III came the Lisa, a computer developed for businesses and introduced in 1983. It was the first computer to utilize a graphical user interface, or GUI, which meant it had desktop symbols that users could click on to open programs and files. Unfortunately, since Jobs was intent on making the computer accessible to individual users, rather than businesses, it was as much a failure as the Apple III.
Then, in 1984, the company released the Macintosh. While it was initially celebrated by the media for its beautiful graphics, it was clearly too under-powered to be truly useful and sales of the product missed the mark by a wide margin.
Such a stream of failures meant serious trouble for Jobs. In fact, the situation was so dire that, in 1985, he was forced into exile from his own company. The CEO at the time, John Sculley, made Jobs step down as head of the Mac product division and Jobs retaliated by trying to get Sculley fired. In the end, he couldn’t get the support he needed from the company board and was forced to walk away from Apple himself. Nonetheless, Jobs was more determined than ever to create the next big thing.
After leaving Apple, Jobs continued trying to revolutionize technology, but with little success.
Though forced out of Apple, Jobs was not about to give up. He was ready to plot his tech revolution and, with investors and the media hailing him as a genius, he was certain he could be a great CEO. He was also certain that he was the only person alive who could create such amazing products.
So, in 1985, he founded the computer company NeXT. But success didn’t come as readily as he’d assumed it would.
The firm started out with the idea of developing a computer geared toward the specific needs of the higher-education market, catering to universities and academic professionals. The academics Jobs spoke with told him that they couldn’t afford a penny above $3,000. Yet when NeXT finally released its first computer, in 1988, the retail cost was a shocking $6,500. And that wasn’t even the total cost for a fully functioning NeXT system; for the full works, users were really looking at something closer to $10,000! Naturally, at this price, the product had no chance.
The product’s demise is actually a good example of a general tendency Jobs had; he was so driven by innovation that he seemed practically incapable of noting the trade-offs that his choices necessitated.
For instance, he chose an optical disk drive for the storage of information rather than a more conventional hard drive. The disk drive had certain perks, like the ability to store two hundred times more information and the option for removal from the computer. However, pulling information off of an optical drive was impossibly slow, and nobody actually needed a removable drive.
Things weren’t going well at NeXT, but Jobs also had another project. He’d become the major owner of Pixar. This firm was a computer subdivision of Lucasfilm, which was responsible for the incredible special effects in movies like Star Trek II and Young Sherlock Holmes. The company caught Jobs’s attention because of the high-tier software they developed for the manipulation of 3D images. When all was said and done, it would be his experience at Pixar that would lead him back to Apple.
In the early 1990s, Microsoft dominated the computer industry, but success at Pixar reinvigorated Steve Jobs.
While Jobs struggled to pull together his vision for NeXT, which was drifting disastrously, another tech star was rising. This was Bill Gates, the founder of Microsoft. During the 1990s, his company was dominating the industry as NeXT and Apple alike began fading into the past.
In fact, by 1991, Microsoft was already the world’s leading software company. This might have had something to do with the fact that, while Apple and NeXT didn’t license their operating systems for other manufacturers, Microsoft’s operating system, Windows, became the industry standard for every personal computer not produced by the other two companies.
This wide appeal rocketed Gates into the elite circle of the super rich, but it also made clear the fundamental differences between him and Jobs. For instance, Jobs was always set on creating the best, most aesthetically pleasing and innovative machine possible. Gates, on the other hand, didn’t care much for revolutionizing the computer industry. Rather, he wanted to ensure reliability and gradual improvements, which is exactly what millions of corporate customers also craved.
Because of this difference, Gates became arguably the most important businessperson on earth, while Jobs looked on from the sidelines.
In 1995, Pixar partnered with Disney to produce its first animated film, Toy Story, which went on to be a smash success. This masterstroke also coincided with Pixar’s initial public offering, making Jobs, who owned 80 percent of the company’s shares, a billionaire overnight.
Oddly enough, the release of this animated film for children is what catalyzed Jobs’s rise from the dead. It boosted his confidence, and his experience at Pixar had also taught him about good management. During his tenure at the company, he learned from John Lasseter and Ed Catmull, both of whom ditched micromanagement at Pixar, enabling their creative employees to run with the freedom they needed.
Returning to Apple in 1997, Steve Jobs put the company back on track.
So the release of Toy Story put Jobs back in the spotlight. Nonetheless, NeXT was still struggling. The company’s products weren’t selling and Jobs’s dream that the company would produce the world’s next great computer was toast. It was by far the low point of his career.
Things were so bad that Jobs shut down production entirely, shifting the company’s focus to software development, specifically its operating system, NeXTSTEP, which at least brought in a small profit.
But if the situation with NeXT sounds dire, just wait till you hear what was going on with Apple. By the mid-1990s, the company was effectively a sinking ship. It had no promising products in the pipeline and was still failing to modernize its operating system.
Beyond that, Apple had way more employees than it could afford. As a result, in the first quarter of 1996 alone, the company lost $750 million.
Jobs watched the downfall of the company from a distance, but it was painful for him nonetheless. And then an unforeseen opportunity popped up: Apple, in search of a shortcut to a more advanced operating system and a way out of its crisis, was looking for software companies to acquire. Jobs threw his hat into the ring and, in late 1996, Apple purchased NeXT.
Just like that, Jobs was back at Apple! Over the years that followed, he worked hard to re-establish Apple as a profitable computer-industry leader. This process began with the forced resignation of the CEO, Gil Amelio, whom Jobs described as a “bozo.” With Amelio out of the picture, Jobs was offered the position and retook the reins.
Though finally back in power, Jobs was initially indecisive, which was a first for him. In fact, during the last few years, he had largely overcome his impulsive tendencies, learning to make careful, measured decisions. Thankfully, this initial indecision didn’t last and, by 2000, Apple was shipping out tons of ground-breaking products, including the iMac and Power Mac. It was this technological innovation that remade the company and brought it out of the red.
With the development of iTunes and the iPod, Apple entered the mass-market and rebuilt itself.
So Jobs succeeded in transforming Apple from a deeply troubled company into a soaring business, but how exactly?
First, he trimmed the firm down to a size that was appropriate to its resources. In the process, thousands of employees were laid off, but Jobs was able to inspire those who stayed to buckle down and create a whole new line of incredible products.
He did this by steering the company in a clear direction, focusing on no more than four basic products. The company produced two desktop PC models and two laptop models, one model from each pair directed at consumers; the other, at professionals.
Such focus laid the foundation for the company’s comeback. But the true innovation began in 2001, when Apple launched iTunes, a software that, for the first time ever, let users create digital music archives and put together personal playlists in a simple, easy-to-use way.
But what was even more important about iTunes is that it led to the development of the iPod. Introduced in the fall of 2001, this MP3 player was Apple’s first foray into the mass-market of consumer electronics. At the time, pocket-sized MP3 players existed, but were mostly poorly designed; it was difficult to put music on them and hard to find what you wanted to listen to.
The iPod changed all that. It was a truly usable device, in large part because of its user interface and its unique “thumb-wheel,” which let users intuitively scroll through their music collections. Customers instantly fell in love with the device and sales soared.
Then, in 2003, the company built an iTunes music store into the software and opened up iTunes for Windows users as well, taking a further step into the market. The addition of the music store was huge. It gave users a simple and fairly-priced option for buying albums and singles that they otherwise had to download illegally. It was so successful that, by the end of 2003, Apple had sold over 25 million songs. The company was back on the rise.
While Steve Jobs fought cancer, Apple continued to soar.
In his forty-nine years, Jobs had never experienced a serious medical condition. But then, in 2003, he was diagnosed with a pancreatic neuroendocrine tumor. Luckily, the tumor turned out to be slow-growing and more treatable than was first thought.
However, while the Stanford doctors that Jobs enlisted told him he needed immediate surgery, Jobs himself wasn’t so sure. Ignoring their advice, he opted first for an alternative, less invasive treatment: an augmented diet.
This route was insufficient, however, and, in 2004, without any other options, he finally did have the tumor surgically removed. The operation was highly-invasive and Jobs spent practically an entire day on the operating table. Worse still, it took him a full month to get back into the office post-surgery and, though the surgery was successful, it uncovered another serious medical problem; surgeons detected a series of cancerous metastases – secondary tumors growing on his liver.
At the same time, during 2003 and 2004, Apple continued to surge. Sales from iTunes and the iPod kept climbing. It was just three years after the launch of iTunes, but revenue related to the store and MP3 player already made up 19 percent of Apple’s total sales. In 2004 alone, the company sold 4.4 million iPods which brought in a net income of $276 million, a dramatic jump from the $69 million of the previous year.
Not just that, but Apple’s entire product line, including its laptops and desktops, was upgraded during these two years. It also didn’t hurt that Apple simultaneously launched its own internet browser, called Safari, and released a cool new application called GarageBand that could be used for simple music recording and editing.
When Jobs came back to the office, it was with a relentless drive to improve and innovate. Unsurprisingly, the result of that innovation is arguably Apple’s most revolutionary product to date: the iPhone.
The release of the iPhone changed technology forever.
In 2007, there already existed devices that were being described as “smartphones,” like the BlackBerry and the Palm Treo. All of them were fine for checking email, finding a contact in your address book or checking your calendar. But when the iPhone first hit shelves that summer, it clearly offered something different.
What really set the iPhone apart was its full-sized touch-screen, which made making a call as easy as swiping a finger. The larger screen also enabled users to view full-featured websites, photos and videos in a way previous phones hadn’t.
Another difference was that while the existing smartphones all had a massive, fixed keyboard, the iPhone didn’t have a built-in keyboard at all. Instead, the keys only displayed on the screen when needed.
How did this incredible innovation come into existence? Apple had actually been tinkering with the touch-screen technology since 2002, but for different reasons. Their hope at the time had been to find a more intuitive way for users to interact with computers beyond the confines of a keyboard and a mouse. As they began experimenting with multi-touch – as the technology is called – they found that it was both fun and effective.
In another sense, the iPhone was also just a natural progression from the iPod, combining a phone, an iPod and a computer in a single, beautifully designed product.
That all being said, the phone did have an initial problem. Because of Apple’s refusal to allow outside developers to build applications, there weren’t a ton of apps to choose from. It was only in November of 2007 that Apple revealed its intention to release a software-developer kit, which may have been the greatest breakthrough the product offered. All of sudden, anyone who wanted to could create apps, making the iPhone truly versatile.
As a result, the iPhone remains the most successful consumer electronics product in history. Over half a billion iPhones have been sold since 2007 and, of course, Apple has profited tremendously.
The iPad and the MacBook Air were Steve Jobs’s final accomplishments.
So Apple was doing better than ever, but the same couldn’t be said of Jobs. His cancer never went away, and his health was declining. But, despite this fact, his illness also never overshadowed the daily business of Apple. While the board of directors began to discuss succession plans, for most people at Apple, Jobs’s declining health was a total mystery.
After all, even as his health deteriorated and he knew time was running out, Jobs refused to give up. Because of his dedication, the company released the MacBook Air in 2008 and, two years later, the iPad. At the time, the former product was Apple’s new “it” device. It was thinner than any previous laptop – effectively the computer equivalent of a supermodel.
From there, the iPad further revolutionized the industry in 2010. If the iPhone was a miniaturized computer, the iPad was a blown up iPhone. When it was released, Jobs unveiled its functions while comfortably sitting on a couch, demonstrating how easy it was to use. And, in fact, the iPad did offer a much more intimate experience than a laptop, easily bringing computing into the living room.
This casual presentation was perfect, but it was also necessitated by Jobs’s poor health; he had lost an alarming amount of weight and the prospect of death was becoming undeniable. In early 2009, he received a liver transplant, but it was to no avail and, on Tuesday, October 5, 2011, Steve Jobs passed away.
As you might imagine, the funeral services were magnificent. When he was buried, on October 8, there was a small ceremony – family, close friends and companions from Apple. But another service followed on October 17, at Memorial Church, on the Stanford University campus. And then another, on October 20, at the Apple headquarters, in Cupertino, with almost ten thousand people in attendance.
Following Jobs’s burial, his long-time colleague and friend Tim Cook took over as CEO of Apple, and he’s continued to advance Jobs’s legacy – a legacy of growth, success, creativity and innovation.
The life of Steve Jobs is a story of success, innovation and growth. Even from an early age, Jobs had a talent for technology and, when he cofounded Apple in his twenties, he already had a vision of what computers could become. Though a sometimes impulsive and difficult man, he was also a dreamer and a trailblazer – and in an inspiration to millions worldwide.
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alfredrserrano · 6 years
Text
Is South Florida’s co-working market reaching a tipping point?
(Illustration by Yifan Wu)
Eight years after launching one of the first co-working spaces in Miami-Dade, Michael Feinstein is under pressure. As deep-pocketed national competitors have aggressively moved into his territory, the founder increasingly sees the need to expand his brand, Büro, beyond the county line. Since 2015, New York City-based WeWork has taken up more than a quarter million square feet of office space in Miami-Dade, close to five times the square footage Büro occupies at its five locations, which range from 10,000 to 20,000 square feet.
Early in the first quarter of 2019, Feinstein will open the doors to Büro’s sixth co-working space — its first in Broward County — with a bet on a once-forgotten corner of Hollywood that is slowly emerging as an arts and culture hub. The South Florida co-working space pioneer is in the process of transforming an Art Deco building there, a former Holocaust education center and museum at 2031 Harrison Street.
Feinstein teamed up with Ecuador-based investor group Hanoy Holdings to purchase the three-story seafoam-colored structure in August 2017 for $1.15 million from the Hollywood Community Redevelopment Agency. “We feel it makes more sense for us when possible to own our space,” Feinstein said. “We are also working on owner-operator agreements with landlords similar to hotel owner-operator deals.”
Buying a building strictly for use as a co-working space reflects how this sector is evolving and trending nationwide. As the gig economy continues to expand and global Fortune 500 corporations seek office space on flexible terms, co-working companies like Büro are looking to own real estate or get into management-type leasing deals with South Florida commercial landlords. And in the past three years, high demand for co-working spaces has led to more competition in the tri-county region, as Büro and other local firms such as Pipeline are now vying against national players like WeWork and CIC as well as traditional executive suites providers such as Regus and Quest Workspaces.
“I still think there is room for growth,” Randy Carballo, a vice president for JLL, said. “We still have a little bit of runway. I don’t think we are overbuilt in the co-working space by any means.”
An analysis by The Real Deal of the top co-working firms by square footage in Miami-Dade County as of Oct. 30 shows that Regus takes the crown for most square footage, offering both co-working space and traditional executive suites. The company has 20 locations in Miami-Dade with a combined 367,211 square feet of space.
However, since opening its first location on Lincoln Road just three years ago, WeWork has been on an insatiable leasing binge. The firm came in second with five sites encompassing 304,709 square feet.
Quest Workspaces took the third slot with four locations totaling 96,072 square feet. CIC came in fourth with one 76,856-square-foot location, and Büro was the only Miami-based provider to crack the top five, with 65,000 square feet spread across five locations.
With WeWork muscling its way into Miami-Dade, Regus is countering with the rollout of its co-working brand Spaces. The first location will open in Q1 2019 in a 20,000-square-foot space inside MiamiCentral, the mixed-use project in downtown Miami that serves as the final stop for the high-speed train Brightline (now known as Virgin Trains USA), according to Carballo, whose JLL team represents Regus in South Florida.
In addition to MiamiCentral, Carballo said, Spaces has also inked deals for square footage at Cube Wynwd, an eight-story office building at 222 Northwest 24th Street in Miami being developed by RedSky Capital, and Las Olas Square, a mixed-use project at 501 East Las Olas Boulevard in Fort Lauderdale.
Courting corporate tenants
The co-working concept was founded on the principle of independent collaboration between freelancers and work-at-home professionals. But in recent years, in major markets like New York City, co-working spaces have increasingly been taken over by multinational corporations and Fortune 500 firms. CBRE, which closely tracks the co-working space industry, divided its rapid growth into three distinct phases: the “executive suites market” that predates 2009, the “birth of co-working,” which took off in 2012, and the “rise of enterprise,” which began in 2016.
For corporations, leasing space from co-working providers allows them to bypass rigid commercial leases, said Jaime Sturgis, CEO and founder of Fort Lauderdale-based Native Realty. “It’s a great way to minimize overhead with no long-term lease commitments,” he said. “It is also a good way for large companies to recruit and maintain talent.”
WeWork, for example, has made no qualms about aggressively pursuing “enterprise clients,” or companies of at least 1,000 employees, which account for a quarter of the New York City-based co-working space provider’s memberships and revenue, according to TRD’s reporting. Knotel doesn’t have a presence locally, but in New York City, San Francisco, London and Berlin, the firm has a high concentration of co-working space. Knotel never embraced the independent contractor model, and 95 percent of its customers are companies with multiple offices and more than 100 employees.
Even publicly traded brokerage firms and prominent landlords are getting in on the action. Tishman Speyer, one of the world’s biggest commercial property owners, has launched a co-working brand called Studio, putting it in direct competition with some of its own co-working tenants, including WeWork. In October, CBRE announced it was launching Hana, its own flexible management division.
While co-working’s proliferation may benefit corporate hubs like the Big Apple, the nature of South Florida’s workforce is different. In May, Fiverr, a marketplace for independent contractors and freelancers, released a study showing that the Greater Miami area — which in the analysis includes Broward and Palm Beach counties — has the largest share of self-employed workers, in terms of their contribution to metro GDP, of the 15 markets surveyed. Fiverr found that Greater Miami’s contingent of freelancers grew by 23 percent between 2011 and 2015 compared to 11 percent growth across the 14 other metro areas.
And in 2017, the Stephen S. Fuller Institute at Virginia’s George Mason University published a report that found the Miami-Fort Lauderdale metropolitan area leading the nation both in the growth and number of firms that don’t have employees. Between 1997 and 2015, the number of nonemployer establishments in the Miami metropolitan area rose 142 percent, more than twice the national average of 58.6 percent, the report found.
As a result of South Florida’s small business and independent contractor landscape, most shared workspace providers still largely rely on nimble professional services firms as clients. But major corporations are growing their presence in the region by opening satellite offices in co-working spaces, according to several brokers and co-working firm owners who spoke to The Real Deal.
“You have local players like Pipeline and Büro that have done a good job housing very local firms and some Fortune 500 companies,” Carballo said. “If you go into WeWork or Spaces, you will see Google, Spotify and Microsoft mixed in with tech startups and entrepreneurs.”
Pipeline owner Philippe Houdard said his member base is a broad cross-section of industries. “It is highly diversified,” Houdard said. “Some are well-known companies, like Postmates and HP. We also have the Latin American headquarters for Wendy’s. Then you have smaller businesses made up of lawyers, architects and other professional services.”
Wendy’s has been leasing space in Pipeline Doral for the past three years, and Postmates is located in Pipeline’s Coral Gables space, Houdard said. He said that while Pipeline doesn’t disclose lease terms, the company works with all its members individually based on their needs and requirements.
There’s a misconception in commercial real estate circles that co-working space providers only cater to startups looking to move out of a garage, opines Feinstein, Büro’s CEO. “Miami in particular has never been about tech startups, but really about smaller, successful companies like a three-person magazine or an eight-person architecture firm,” he said. “We cater to creative agencies. The corporate user is less interesting to us.”
That’s not to say Büro shuns corporate giants. The company has provided space to Uber, Airbnb and the Huffington Post, among other big brands. “But it is usually teams of five to 10 people, not 100,” Feinstein said. He declined to discuss how long the two tech companies have leased space at Büro and whether both are still tenants.
Stephen Rutchik, an executive vice president at Colliers International, represented WeWork in leasing 35,000-square-foot in an office building at 2222 Ponce de Leon Boulevard. He declined to reveal the lease terms, but said the company had no problem landing tenants for its fifth location in Miami-Dade since opening it this past February.
“They quickly filled up to 100 percent occupancy,” Rutchik said. “It is a healthy 50/50 mix of local tenants and corporate America enterprise users.”
Bobby Condon, general manager for WeWork’s Southeast division, said Fortune 500 companies represent about 30 percent of its South Florida member base. “That’s up from 20 percent in 2017,” Condon said. “The enterprise users see it as an amazing flexible platform to scale their business. They see it as an opportunity to be part of our community and the environment we create.”
As WeWork and Spaces plant outposts in South Florida, local firms are expanding farther afield in the state. In the first half of 2018, Pipeline opened sites in Orlando and Tampa, bringing its total number of locations to six since it opened its first space in Brickell six years ago.
“We are pretty close to capacity in our Miami-Dade locations,” Houdard said. “Orlando is going pretty well. We are at about 75 to 80 percent occupancy. And Tampa is in the ramp-up phase.”
Büro is also looking at expansion possibilities beyond Hollywood, Feinstein said. “Our model has been to open a new Büro every year since 2012, when we opened our second location,” Feinstein said. “We like to be in creative, mixed neighborhoods. And we are on the best corners. That is our model moving forward.”
Shifting moods among landlords
How landlords view co-working spaces’ tenants is a mixed bag. Some owners and commercial brokers said landlords are more than enthusiastic about signing leases or cutting management agreements with co-working firms. However, others believe there’s little room for continued growth in the sector. The landlords that had the most co-working space within their properties in Miami-Dade, including Allianz Real Estate of America (which, according to TRD’s analysis, has over 68,000 square feet dedicated to co-working space in the county) and Turnbridge Equities (with 95,000 square feet of co-working space in the county) did not respond to requests for interviews.
Pipeline Gables is currently home to logistics firm Postmates.
Co-working firms can provide many advantages and benefits for landlords, Colliers’ Rutchik said. For instance, clients of co-working space providers create foot traffic into an office building. “It seeds an office building in big way,” Rutchik said. “Hopefully, those tenants in a co-working space grow and expand even if they are not a direct tenant.”
Having a co-working space with an interesting mix of companies increases a building’s marketability, Houdard adds. “It is not uncommon for landlords to come in and show prospective tenants the Pipeline space,” he said. “And for companies that outgrow their Pipeline space, they may want to take space in the same building.”
In some cases, co-working firms are highly sought-after by the owners of major mixed-use developments, said JLL’s Carballo. “The smart landlords want a co-working service in their building,” he said. “If you look at all new construction, all new buildings or any buildings with major blocks of space available, they are targeting these big co-working space players.”
Still, some commercial property owners are starting to think the co-working trend in South Florida is nearing its peak, Carballo warned. “Because there are so many of these co-working players, some landlords are hyper-focused on credit,” he said. “That has affected the smaller, local shops. And some landlords are pretty risk-averse … They are not convinced of their long term-viability.”
And then there is the issue of pricing. Laura Kozelouzek, CEO of Quest Workspaces, said that with office rents in  the Greater Miami area at an all-time high, her firm is taking a more conscientious approach to expansion. The average asking rents in Miami-Dade reached peak levels at $39.17 per square foot, according to JLL’s Q3 2018 Office Insight report.
In the last two years, Quest has only opened two sites, for a total of four locations in South Florida. Each site has about 30,000 to 35,000 square feet, and the company has 96,072  square feet in Miami-Dade, putting Quest behind Regus and WeWork in total square footage.
“It’s quite possible you end up paying rates at the height of the market, which is a precarious position to be in should the market drop,” Kozelouzek said. “Operators in the co-working or executive suites space need to be mindful of real estate price. It is very much a landlord market at this point.”
from The Real Deal Miami https://therealdeal.com/miami/issues_articles/the-co-working-conundrum/#new_tab via IFTTT
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juditmiltz · 6 years
Text
Is South Florida’s co-working market reaching a tipping point?
(Illustration by Yifan Wu)
Eight years after launching one of the first co-working spaces in Miami-Dade, Michael Feinstein is under pressure. As deep-pocketed national competitors have aggressively moved into his territory, the founder increasingly sees the need to expand his brand, Büro, beyond the county line. Since 2015, New York City-based WeWork has taken up more than a quarter million square feet of office space in Miami-Dade, close to five times the square footage Büro occupies at its five locations, which range from 10,000 to 20,000 square feet.
Early in the first quarter of 2019, Feinstein will open the doors to Büro’s sixth co-working space — its first in Broward County — with a bet on a once-forgotten corner of Hollywood that is slowly emerging as an arts and culture hub. The South Florida co-working space pioneer is in the process of transforming an Art Deco building there, a former Holocaust education center and museum at 2031 Harrison Street.
Feinstein teamed up with Ecuador-based investor group Hanoy Holdings to purchase the three-story seafoam-colored structure in August 2017 for $1.15 million from the Hollywood Community Redevelopment Agency. “We feel it makes more sense for us when possible to own our space,” Feinstein said. “We are also working on owner-operator agreements with landlords similar to hotel owner-operator deals.”
Buying a building strictly for use as a co-working space reflects how this sector is evolving and trending nationwide. As the gig economy continues to expand and global Fortune 500 corporations seek office space on flexible terms, co-working companies like Büro are looking to own real estate or get into management-type leasing deals with South Florida commercial landlords. And in the past three years, high demand for co-working spaces has led to more competition in the tri-county region, as Büro and other local firms such as Pipeline are now vying against national players like WeWork and CIC as well as traditional executive suites providers such as Regus and Quest Workspaces.
“I still think there is room for growth,” Randy Carballo, a vice president for JLL, said. “We still have a little bit of runway. I don’t think we are overbuilt in the co-working space by any means.”
An analysis by The Real Deal of the top co-working firms by square footage in Miami-Dade County as of Oct. 30 shows that Regus takes the crown for most square footage, offering both co-working space and traditional executive suites. The company has 20 locations in Miami-Dade with a combined 367,211 square feet of space.
However, since opening its first location on Lincoln Road just three years ago, WeWork has been on an insatiable leasing binge. The firm came in second with five sites encompassing 304,709 square feet.
Quest Workspaces took the third slot with four locations totaling 96,072 square feet. CIC came in fourth with one 76,856-square-foot location, and Büro was the only Miami-based provider to crack the top five, with 65,000 square feet spread across five locations.
With WeWork muscling its way into Miami-Dade, Regus is countering with the rollout of its co-working brand Spaces. The first location will open in Q1 2019 in a 20,000-square-foot space inside MiamiCentral, the mixed-use project in downtown Miami that serves as the final stop for the high-speed train Brightline (now known as Virgin Trains USA), according to Carballo, whose JLL team represents Regus in South Florida.
In addition to MiamiCentral, Carballo said, Spaces has also inked deals for square footage at Cube Wynwd, an eight-story office building at 222 Northwest 24th Street in Miami being developed by RedSky Capital, and Las Olas Square, a mixed-use project at 501 East Las Olas Boulevard in Fort Lauderdale.
Courting corporate tenants
The co-working concept was founded on the principle of independent collaboration between freelancers and work-at-home professionals. But in recent years, in major markets like New York City, co-working spaces have increasingly been taken over by multinational corporations and Fortune 500 firms. CBRE, which closely tracks the co-working space industry, divided its rapid growth into three distinct phases: the “executive suites market” that predates 2009, the “birth of co-working,” which took off in 2012, and the “rise of enterprise,” which began in 2016.
For corporations, leasing space from co-working providers allows them to bypass rigid commercial leases, said Jaime Sturgis, CEO and founder of Fort Lauderdale-based Native Realty. “It’s a great way to minimize overhead with no long-term lease commitments,” he said. “It is also a good way for large companies to recruit and maintain talent.”
WeWork, for example, has made no qualms about aggressively pursuing “enterprise clients,” or companies of at least 1,000 employees, which account for a quarter of the New York City-based co-working space provider’s memberships and revenue, according to TRD’s reporting. Knotel doesn’t have a presence locally, but in New York City, San Francisco, London and Berlin, the firm has a high concentration of co-working space. Knotel never embraced the independent contractor model, and 95 percent of its customers are companies with multiple offices and more than 100 employees.
Even publicly traded brokerage firms and prominent landlords are getting in on the action. Tishman Speyer, one of the world’s biggest commercial property owners, has launched a co-working brand called Studio, putting it in direct competition with some of its own co-working tenants, including WeWork. In October, CBRE announced it was launching Hana, its own flexible management division.
While co-working’s proliferation may benefit corporate hubs like the Big Apple, the nature of South Florida’s workforce is different. In May, Fiverr, a marketplace for independent contractors and freelancers, released a study showing that the Greater Miami area — which in the analysis includes Broward and Palm Beach counties — has the largest share of self-employed workers, in terms of their contribution to metro GDP, of the 15 markets surveyed. Fiverr found that Greater Miami’s contingent of freelancers grew by 23 percent between 2011 and 2015 compared to 11 percent growth across the 14 other metro areas.
And in 2017, the Stephen S. Fuller Institute at Virginia’s George Mason University published a report that found the Miami-Fort Lauderdale metropolitan area leading the nation both in the growth and number of firms that don’t have employees. Between 1997 and 2015, the number of nonemployer establishments in the Miami metropolitan area rose 142 percent, more than twice the national average of 58.6 percent, the report found.
As a result of South Florida’s small business and independent contractor landscape, most shared workspace providers still largely rely on nimble professional services firms as clients. But major corporations are growing their presence in the region by opening satellite offices in co-working spaces, according to several brokers and co-working firm owners who spoke to The Real Deal.
“You have local players like Pipeline and Büro that have done a good job housing very local firms and some Fortune 500 companies,” Carballo said. “If you go into WeWork or Spaces, you will see Google, Spotify and Microsoft mixed in with tech startups and entrepreneurs.”
Pipeline owner Philippe Houdard said his member base is a broad cross-section of industries. “It is highly diversified,” Houdard said. “Some are well-known companies, like Postmates and HP. We also have the Latin American headquarters for Wendy’s. Then you have smaller businesses made up of lawyers, architects and other professional services.”
Wendy’s has been leasing space in Pipeline Doral for the past three years, and Postmates is located in Pipeline’s Coral Gables space, Houdard said. He said that while Pipeline doesn’t disclose lease terms, the company works with all its members individually based on their needs and requirements.
There’s a misconception in commercial real estate circles that co-working space providers only cater to startups looking to move out of a garage, opines Feinstein, Büro’s CEO. “Miami in particular has never been about tech startups, but really about smaller, successful companies like a three-person magazine or an eight-person architecture firm,” he said. “We cater to creative agencies. The corporate user is less interesting to us.”
That’s not to say Büro shuns corporate giants. The company has provided space to Uber, Airbnb and the Huffington Post, among other big brands. “But it is usually teams of five to 10 people, not 100,” Feinstein said. He declined to discuss how long the two tech companies have leased space at Büro and whether both are still tenants.
Stephen Rutchik, an executive vice president at Colliers International, represented WeWork in leasing 35,000-square-foot in an office building at 2222 Ponce de Leon Boulevard. He declined to reveal the lease terms, but said the company had no problem landing tenants for its fifth location in Miami-Dade since opening it this past February.
“They quickly filled up to 100 percent occupancy,” Rutchik said. “It is a healthy 50/50 mix of local tenants and corporate America enterprise users.”
Bobby Condon, general manager for WeWork’s Southeast division, said Fortune 500 companies represent about 30 percent of its South Florida member base. “That’s up from 20 percent in 2017,” Condon said. “The enterprise users see it as an amazing flexible platform to scale their business. They see it as an opportunity to be part of our community and the environment we create.”
As WeWork and Spaces plant outposts in South Florida, local firms are expanding farther afield in the state. In the first half of 2018, Pipeline opened sites in Orlando and Tampa, bringing its total number of locations to six since it opened its first space in Brickell six years ago.
“We are pretty close to capacity in our Miami-Dade locations,” Houdard said. “Orlando is going pretty well. We are at about 75 to 80 percent occupancy. And Tampa is in the ramp-up phase.”
Büro is also looking at expansion possibilities beyond Hollywood, Feinstein said. “Our model has been to open a new Büro every year since 2012, when we opened our second location,” Feinstein said. “We like to be in creative, mixed neighborhoods. And we are on the best corners. That is our model moving forward.”
Shifting moods among landlords
How landlords view co-working spaces’ tenants is a mixed bag. Some owners and commercial brokers said landlords are more than enthusiastic about signing leases or cutting management agreements with co-working firms. However, others believe there’s little room for continued growth in the sector. The landlords that had the most co-working space within their properties in Miami-Dade, including Allianz Real Estate of America (which, according to TRD’s analysis, has over 68,000 square feet dedicated to co-working space in the county) and Turnbridge Equities (with 95,000 square feet of co-working space in the county) did not respond to requests for interviews.
Pipeline Gables is currently home to logistics firm Postmates.
Co-working firms can provide many advantages and benefits for landlords, Colliers’ Rutchik said. For instance, clients of co-working space providers create foot traffic into an office building. “It seeds an office building in big way,” Rutchik said. “Hopefully, those tenants in a co-working space grow and expand even if they are not a direct tenant.”
Having a co-working space with an interesting mix of companies increases a building’s marketability, Houdard adds. “It is not uncommon for landlords to come in and show prospective tenants the Pipeline space,” he said. “And for companies that outgrow their Pipeline space, they may want to take space in the same building.”
In some cases, co-working firms are highly sought-after by the owners of major mixed-use developments, said JLL’s Carballo. “The smart landlords want a co-working service in their building,” he said. “If you look at all new construction, all new buildings or any buildings with major blocks of space available, they are targeting these big co-working space players.”
Still, some commercial property owners are starting to think the co-working trend in South Florida is nearing its peak, Carballo warned. “Because there are so many of these co-working players, some landlords are hyper-focused on credit,” he said. “That has affected the smaller, local shops. And some landlords are pretty risk-averse … They are not convinced of their long term-viability.”
And then there is the issue of pricing. Laura Kozelouzek, CEO of Quest Workspaces, said that with office rents in  the Greater Miami area at an all-time high, her firm is taking a more conscientious approach to expansion. The average asking rents in Miami-Dade reached peak levels at $39.17 per square foot, according to JLL’s Q3 2018 Office Insight report.
In the last two years, Quest has only opened two sites, for a total of four locations in South Florida. Each site has about 30,000 to 35,000 square feet, and the company has 96,072  square feet in Miami-Dade, putting Quest behind Regus and WeWork in total square footage.
“It’s quite possible you end up paying rates at the height of the market, which is a precarious position to be in should the market drop,” Kozelouzek said. “Operators in the co-working or executive suites space need to be mindful of real estate price. It is very much a landlord market at this point.”
from The Real Deal Miami https://therealdeal.com/miami/issues_articles/the-co-working-conundrum/#new_tab via IFTTT
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alfredrserrano · 6 years
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Is South Florida’s co-working market reaching a tipping point?
(Illustration by Yifan Wu)
Eight years after launching one of the first co-working spaces in Miami-Dade, Michael Feinstein is under pressure. As deep-pocketed national competitors have aggressively moved into his territory, the founder increasingly sees the need to expand his brand, Büro, beyond the county line. Since 2015, New York City-based WeWork has taken up more than a quarter million square feet of office space in Miami-Dade, close to five times the square footage Büro occupies at its five locations, which range from 10,000 to 20,000 square feet.
Early in the first quarter of 2019, Feinstein will open the doors to Büro’s sixth co-working space — its first in Broward County — with a bet on a once-forgotten corner of Hollywood that is slowly emerging as an arts and culture hub. The South Florida co-working space pioneer is in the process of transforming an Art Deco building there, a former Holocaust education center and museum at 2031 Harrison Street.
Feinstein teamed up with Ecuador-based investor group Hanoy Holdings to purchase the three-story seafoam-colored structure in August 2017 for $1.15 million from the Hollywood Community Redevelopment Agency. “We feel it makes more sense for us when possible to own our space,” Feinstein said. “We are also working on owner-operator agreements with landlords similar to hotel owner-operator deals.”
Buying a building strictly for use as a co-working space reflects how this sector is evolving and trending nationwide. As the gig economy continues to expand and global Fortune 500 corporations seek office space on flexible terms, co-working companies like Büro are looking to own real estate or get into management-type leasing deals with South Florida commercial landlords. And in the past three years, high demand for co-working spaces has led to more competition in the tri-county region, as Büro and other local firms such as Pipeline are now vying against national players like WeWork and CIC as well as traditional executive suites providers such as Regus and Quest Workspaces.
“I still think there is room for growth,” Randy Carballo, a vice president for JLL, said. “We still have a little bit of runway. I don’t think we are overbuilt in the co-working space by any means.”
An analysis by The Real Deal of the top co-working firms by square footage in Miami-Dade County as of Oct. 30 shows that Regus takes the crown for most square footage, offering both co-working space and traditional executive suites. The company has 20 locations in Miami-Dade with a combined 367,211 square feet of space.
However, since opening its first location on Lincoln Road just three years ago, WeWork has been on an insatiable leasing binge. The firm came in second with five sites encompassing 304,709 square feet.
Quest Workspaces took the third slot with four locations totaling 96,072 square feet. CIC came in fourth with one 76,856-square-foot location, and Büro was the only Miami-based provider to crack the top five, with 65,000 square feet spread across five locations.
With WeWork muscling its way into Miami-Dade, Regus is countering with the rollout of its co-working brand Spaces. The first location will open in Q1 2019 in a 20,000-square-foot space inside MiamiCentral, the mixed-use project in downtown Miami that serves as the final stop for the high-speed train Brightline (now known as Virgin Trains USA), according to Carballo, whose JLL team represents Regus in South Florida.
In addition to MiamiCentral, Carballo said, Spaces has also inked deals for square footage at Cube Wynwd, an eight-story office building at 222 Northwest 24th Street in Miami being developed by RedSky Capital, and Las Olas Square, a mixed-use project at 501 East Las Olas Boulevard in Fort Lauderdale.
Courting corporate tenants
The co-working concept was founded on the principle of independent collaboration between freelancers and work-at-home professionals. But in recent years, in major markets like New York City, co-working spaces have increasingly been taken over by multinational corporations and Fortune 500 firms. CBRE, which closely tracks the co-working space industry, divided its rapid growth into three distinct phases: the “executive suites market” that predates 2009, the “birth of co-working,” which took off in 2012, and the “rise of enterprise,” which began in 2016.
For corporations, leasing space from co-working providers allows them to bypass rigid commercial leases, said Jaime Sturgis, CEO and founder of Fort Lauderdale-based Native Realty. “It’s a great way to minimize overhead with no long-term lease commitments,” he said. “It is also a good way for large companies to recruit and maintain talent.”
WeWork, for example, has made no qualms about aggressively pursuing “enterprise clients,” or companies of at least 1,000 employees, which account for a quarter of the New York City-based co-working space provider’s memberships and revenue, according to TRD’s reporting. Knotel doesn’t have a presence locally, but in New York City, San Francisco, London and Berlin, the firm has a high concentration of co-working space. Knotel never embraced the independent contractor model, and 95 percent of its customers are companies with multiple offices and more than 100 employees.
Even publicly traded brokerage firms and prominent landlords are getting in on the action. Tishman Speyer, one of the world’s biggest commercial property owners, has launched a co-working brand called Studio, putting it in direct competition with some of its own co-working tenants, including WeWork. In October, CBRE announced it was launching Hana, its own flexible management division.
While co-working’s proliferation may benefit corporate hubs like the Big Apple, the nature of South Florida’s workforce is different. In May, Fiverr, a marketplace for independent contractors and freelancers, released a study showing that the Greater Miami area — which in the analysis includes Broward and Palm Beach counties — has the largest share of self-employed workers, in terms of their contribution to metro GDP, of the 15 markets surveyed. Fiverr found that Greater Miami’s contingent of freelancers grew by 23 percent between 2011 and 2015 compared to 11 percent growth across the 14 other metro areas.
And in 2017, the Stephen S. Fuller Institute at Virginia’s George Mason University published a report that found the Miami-Fort Lauderdale metropolitan area leading the nation both in the growth and number of firms that don’t have employees. Between 1997 and 2015, the number of nonemployer establishments in the Miami metropolitan area rose 142 percent, more than twice the national average of 58.6 percent, the report found.
As a result of South Florida’s small business and independent contractor landscape, most shared workspace providers still largely rely on nimble professional services firms as clients. But major corporations are growing their presence in the region by opening satellite offices in co-working spaces, according to several brokers and co-working firm owners who spoke to The Real Deal.
“You have local players like Pipeline and Büro that have done a good job housing very local firms and some Fortune 500 companies,” Carballo said. “If you go into WeWork or Spaces, you will see Google, Spotify and Microsoft mixed in with tech startups and entrepreneurs.”
Pipeline owner Philippe Houdard said his member base is a broad cross-section of industries. “It is highly diversified,” Houdard said. “Some are well-known companies, like Postmates and HP. We also have the Latin American headquarters for Wendy’s. Then you have smaller businesses made up of lawyers, architects and other professional services.”
Wendy’s has been leasing space in Pipeline Doral for the past three years, and Postmates is located in Pipeline’s Coral Gables space, Houdard said. He said that while Pipeline doesn’t disclose lease terms, the company works with all its members individually based on their needs and requirements.
There’s a misconception in commercial real estate circles that co-working space providers only cater to startups looking to move out of a garage, opines Feinstein, Büro’s CEO. “Miami in particular has never been about tech startups, but really about smaller, successful companies like a three-person magazine or an eight-person architecture firm,” he said. “We cater to creative agencies. The corporate user is less interesting to us.”
That’s not to say Büro shuns corporate giants. The company has provided space to Uber, Airbnb and the Huffington Post, among other big brands. “But it is usually teams of five to 10 people, not 100,” Feinstein said. He declined to discuss how long the two tech companies have leased space at Büro and whether both are still tenants.
Stephen Rutchik, an executive vice president at Colliers International, represented WeWork in leasing 35,000-square-foot in an office building at 2222 Ponce de Leon Boulevard. He declined to reveal the lease terms, but said the company had no problem landing tenants for its fifth location in Miami-Dade since opening it this past February.
“They quickly filled up to 100 percent occupancy,” Rutchik said. “It is a healthy 50/50 mix of local tenants and corporate America enterprise users.”
Bobby Condon, general manager for WeWork’s Southeast division, said Fortune 500 companies represent about 30 percent of its South Florida member base. “That’s up from 20 percent in 2017,” Condon said. “The enterprise users see it as an amazing flexible platform to scale their business. They see it as an opportunity to be part of our community and the environment we create.”
As WeWork and Spaces plant outposts in South Florida, local firms are expanding farther afield in the state. In the first half of 2018, Pipeline opened sites in Orlando and Tampa, bringing its total number of locations to six since it opened its first space in Brickell six years ago.
“We are pretty close to capacity in our Miami-Dade locations,” Houdard said. “Orlando is going pretty well. We are at about 75 to 80 percent occupancy. And Tampa is in the ramp-up phase.”
Büro is also looking at expansion possibilities beyond Hollywood, Feinstein said. “Our model has been to open a new Büro every year since 2012, when we opened our second location,” Feinstein said. “We like to be in creative, mixed neighborhoods. And we are on the best corners. That is our model moving forward.”
Shifting moods among landlords
How landlords view co-working spaces’ tenants is a mixed bag. Some owners and commercial brokers said landlords are more than enthusiastic about signing leases or cutting management agreements with co-working firms. However, others believe there’s little room for continued growth in the sector. The landlords that had the most co-working space within their properties in Miami-Dade, including Allianz Real Estate of America (which, according to TRD’s analysis, has over 68,000 square feet dedicated to co-working space in the county) and Turnbridge Equities (with 95,000 square feet of co-working space in the county) did not respond to requests for interviews.
Pipeline Gables is currently home to logistics firm Postmates.
Co-working firms can provide many advantages and benefits for landlords, Colliers’ Rutchik said. For instance, clients of co-working space providers create foot traffic into an office building. “It seeds an office building in big way,” Rutchik said. “Hopefully, those tenants in a co-working space grow and expand even if they are not a direct tenant.”
Having a co-working space with an interesting mix of companies increases a building’s marketability, Houdard adds. “It is not uncommon for landlords to come in and show prospective tenants the Pipeline space,” he said. “And for companies that outgrow their Pipeline space, they may want to take space in the same building.”
In some cases, co-working firms are highly sought-after by the owners of major mixed-use developments, said JLL’s Carballo. “The smart landlords want a co-working service in their building,” he said. “If you look at all new construction, all new buildings or any buildings with major blocks of space available, they are targeting these big co-working space players.”
Still, some commercial property owners are starting to think the co-working trend in South Florida is nearing its peak, Carballo warned. “Because there are so many of these co-working players, some landlords are hyper-focused on credit,” he said. “That has affected the smaller, local shops. And some landlords are pretty risk-averse … They are not convinced of their long term-viability.”
And then there is the issue of pricing. Laura Kozelouzek, CEO of Quest Workspaces, said that with office rents in  the Greater Miami area at an all-time high, her firm is taking a more conscientious approach to expansion. The average asking rents in Miami-Dade reached peak levels at $39.17 per square foot, according to JLL’s Q3 2018 Office Insight report.
In the last two years, Quest has only opened two sites, for a total of four locations in South Florida. Each site has about 30,000 to 35,000 square feet, and the company has 96,072  square feet in Miami-Dade, putting Quest behind Regus and WeWork in total square footage.
“It’s quite possible you end up paying rates at the height of the market, which is a precarious position to be in should the market drop,” Kozelouzek said. “Operators in the co-working or executive suites space need to be mindful of real estate price. It is very much a landlord market at this point.”
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