The commodity that's going to be sought after is someone with a personality.
In a technology-driven world, the importance of human connection and communication skills is emphasized. The conversation highlights the need for individuals to develop their personality and articulate their thoughts, as these traits will become increasingly valuable in the future.
For nearly two decades, Kristen Oliveri has been at the intersection of content, community, and connection in the family wealth industry. She began her career as a beat reporter for Institutional Investor, honing her ability to distill financial narratives into compelling stories. From there, she expanded her expertise into event curation and investor relations for family offices, at companies including With Intelligence, Markets Group, and Crain.
Today, Kristen serves as Senior Family Office Advisor and Co-Chair of the SFO Executive Advisory Board for The UHNW Institute, where she helps lead the SFO Circle—a private membership network for senior single-family office executives. In that role, she curates content, moderates thought-leadership programs, and fosters collaboration among the world’s most sophisticated wealth stewards.
Her career has taken her around the world, uncovering the luxurious side of wealth—from bespoke travel experiences to fine wine, wellness retreats, and culinary excellence.
Yet, beyond the opulence, what truly drives Kristen is the people. She has an innate ability to foster authentic, long-term relationships, seamlessly moving between curating exclusive gatherings, moderating thought-provoking discussions on topics like philanthropy, and connecting next generation family office leaders.
A reformed theater geek at heart, Kristen thrives in front of an audience, lending her voice to podcasts, panels and personal brand storytelling. Helping industry leaders craft their narratives isn’t just her profession—it’s her passion.
A native New Yorker, Kristen now calls the North Fork of Long Island home, where she shares her love of Italian culture, wine collecting, and home-cooked meals with family and friends. When she’s not traveling, you’ll find her on the dance floor.
Takeaways
People are going to go so far into technology.
The commodity that's going to be sought after is someone with a personality.
I want to teach my kids to connect with others.
Looking someone in the eye is essential.
Chat GBT won't be able to create genuine connections.
Communication skills will be crucial in the future.
Articulation and personality will stand out in a tech world.
Teaching kids to engage personally is vital.
Human connection is irreplaceable by technology.
The future will value emotional intelligence.
Sound bites
"The commodity that's going to be sought after is someone with a personality"
"I want them to look somebody in the eye"
"That's what chat GBT won't be able to do"
Chapters
00:00 Introduction and Background
00:26 Salesmanship in the Age of AI
Want to learn more about Family Office Insights? Click Here.
00:00:00,040 --> 00:00:02,480
People are just going to go so
far into technology.
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The commodity that's going to be
sought after is someone with a
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00:00:05,920 --> 00:00:09,880
personality that has an ability
to be articulate and to connect
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00:00:10,080 --> 00:00:13,080
and to tell a story verbally or
maybe in public.
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00:00:13,080 --> 00:00:15,520
That's the commodity I want to
teach my kids.
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00:00:15,520 --> 00:00:17,840
I want them to like, look
somebody in the eye and say, hi,
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00:00:17,840 --> 00:00:20,240
Arthur, nice to see you.
Where did you vacation last,
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Bill?
And creating this ability for
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00:00:22,680 --> 00:00:25,600
connection because that's what
Chachi BT won't be able to
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00:00:25,600 --> 00:00:27,440
replicate.
Hello, welcome everybody.
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00:00:27,440 --> 00:00:30,560
Thanks for joining us in another
episode of of Arthur's Round
12
00:00:30,560 --> 00:00:32,400
Table.
Super excited.
13
00:00:32,520 --> 00:00:37,680
I've been trying to get Kristen
to do this for a few weeks and
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00:00:37,680 --> 00:00:40,080
it's my fault because we keep on
screwing up the schedule.
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So I'm super happy to have her
here.
16
00:00:41,360 --> 00:00:43,680
And we have a long history
together.
17
00:00:43,680 --> 00:00:46,360
I don't know, maybe 131415
years, something like that.
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00:00:47,080 --> 00:00:51,520
In fact, we were colleagues in
that at the beginning of Family
19
00:00:51,520 --> 00:00:55,320
Office Insights.
Kristen helped me with narrative
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00:00:55,320 --> 00:00:58,720
and writing, which is what she
does right and for, among other
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things.
So she was the original editor
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to the Peer Insights reports and
then some.
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So we have a long and delightful
history.
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So Kristen, thanks for doing
this today.
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Arthur, it's always a pleasure
to see you and be in
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conversation with you and I just
overjoyed to be here.
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So let's do this.
Thank you again.
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Let's start from the beginning.
Talk about your journey because
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you've had lots of lives, but
one of the things I don't like
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to share with everybody is that
you've been consistently
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interested in food and travel,
right?
32
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You're back?
Yeah.
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Where do I begin?
I still, in my mind, think I'm
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very young, but, you know, 20
years in the wealth management
35
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family office space at this
point.
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So the story began.
I was a journalist.
37
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I studied journalism and theater
in college.
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I wanted to go be on TV and be a
broadcast journalist.
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And I quickly pivoted to written
journalism.
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00:01:52,720 --> 00:01:55,880
And I found my way into writing
for Institutional Investor
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00:01:55,880 --> 00:01:58,280
covering what was called wealth
management.
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And I couldn't at the time
define what wealth management
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was.
Wasn't sure what the difference
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between a wealth manager or a
private bank or an RIA.
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And then this term family office
came up, which blew my mind.
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So I spent years doing what a
lot of journalists are trying to
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do and develop sources.
And that was a whole lot of fun
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because you get to actually like
meet with people over coffee or
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drinks or.
Especially in New York City,
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where it's, you know, conducive
to that sort of activity, right?
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I was out all week.
I mean, I was never at my desk.
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00:02:29,640 --> 00:02:32,320
And I remember one editor saying
you're a bad journalist if
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you're sitting at your desk.
And I took that to heart.
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So I spent years learning about
that beat, understanding what
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wealth was.
But you alluded to it before.
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At the same time I was, my heart
was in this food travel
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00:02:46,520 --> 00:02:50,200
lifestyle space.
So I consistently freelanced for
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that.
I would write articles, I go on
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00:02:52,120 --> 00:02:56,480
press trips, I would cover that
world at night, on the weekends
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00:02:56,480 --> 00:02:58,480
sort of thing.
So I kind of have these two
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00:02:58,480 --> 00:03:01,880
parallel paths always happening,
covering the wealth landscape,
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00:03:02,760 --> 00:03:06,200
covering food, wine, travel,
lifestyle, and eventually and
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we'll get to it.
But today that those two worlds
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of have crossed.
And I think as every journalist
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comes to some point in their
career, they try to figure out
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how I make more money.
What's the next step?
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Am I going to just write about
this thing for the rest of my
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life?
And we work together at this
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point in our career too, was I
worked for institutional
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investor the second time around
where I created a family office
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networking group and then
eventually transitioned to the
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conference side of the business
where I was overseeing their
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family office practice both in
the US and Europe.
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And that was a great, that sort
of defined, I think my career
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and where I am today because I
did the content component, the
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writing, the curating, the
panels, finding speakers and all
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that.
But I started developing this
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Rolodex meeting families all
over the world.
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And my ask wasn't a big one.
Right?
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00:03:55,080 --> 00:03:57,120
I let's go grab a drink.
Tell me your pain points.
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What are your challenges?
OK, would you like to come to
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this lovely event in Lake Como?
So I put a lot of time into
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building I know, which is great.
I do remember us singing Frank
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00:04:07,840 --> 00:04:11,040
Sinatra at the piano bar.
That was fun.
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But you know, and it was great,
it was such a good time in my
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00:04:14,040 --> 00:04:17,920
life where I was able to just
meet people without any real
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agenda and get to truly
understand the family office
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space, which was really neat.
I, you know, met some great
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friends, traveled all over the
world.
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00:04:25,920 --> 00:04:28,160
And as you and I both know,
eventually I met my husband
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there too.
So just really very formative.
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00:04:30,680 --> 00:04:34,440
And then COVID happened.
I had two children and my last
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00:04:34,720 --> 00:04:37,680
job before becoming
entrepreneur, I was with Crane
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00:04:37,720 --> 00:04:40,760
and I helped them launch their
family office publication and
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00:04:40,760 --> 00:04:43,640
their events business.
And I had that aha moment that I
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00:04:43,640 --> 00:04:46,840
think most entrepreneurs had.
I sort of went back into the
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00:04:46,840 --> 00:04:50,880
editorial seat and then I
realized, but I also have this
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00:04:50,880 --> 00:04:53,600
commercial mindset, right?
Like I also can I see these
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00:04:53,600 --> 00:04:55,760
concentric circles, I can put
them together.
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00:04:55,760 --> 00:04:59,680
The Rolodex is worth something.
You know, it feels like this is
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00:04:59,680 --> 00:05:03,120
the right time to strike out on
my own and do to do the thing
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00:05:03,120 --> 00:05:06,000
for myself.
So that led me to earlier this
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00:05:06,000 --> 00:05:08,440
year, I left the corporate world
behind.
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00:05:09,640 --> 00:05:12,280
Yeah, this this calendar year,
January officially.
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00:05:12,320 --> 00:05:14,840
And I created my business called
Wealth Reimagined.
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00:05:14,840 --> 00:05:18,480
And it was my way of bringing in
the family office space, the
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00:05:18,480 --> 00:05:21,520
lifestyle component, all the
things I'm good at.
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00:05:22,080 --> 00:05:24,360
I'm putting it under one
umbrella.
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00:05:24,360 --> 00:05:26,320
So that was a really big moment
for me.
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00:05:26,840 --> 00:05:30,680
Yeah.
So I call that the Goldman Sachs
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00:05:30,680 --> 00:05:33,360
trade.
What what I mean by that is that
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00:05:33,360 --> 00:05:38,240
I tell my kids, I said, look,
sooner or later, if you want go
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00:05:38,240 --> 00:05:41,120
out on your own and wake up
every morning toiling away for
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00:05:41,120 --> 00:05:44,920
yourself.
But you can go to Goldman Sachs,
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00:05:45,240 --> 00:05:48,000
build a Rolodex on their brand
that you wouldn't otherwise be
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able to do just because of their
brand.
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00:05:50,320 --> 00:05:53,720
I mean, it's just a reality.
Spend 10 years there, walk away
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with 10 million bucks.
Meanwhile, they made 300
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million.
But now you have a Rolodex that
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you wouldn't otherwise been able
to glean on your own.
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And shame on you if you don't do
something on that.
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00:06:03,760 --> 00:06:05,800
And that's exactly what you've
done, right?
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00:06:07,240 --> 00:06:09,600
A lot of people gave me that.
I think you were probably the
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00:06:09,600 --> 00:06:12,720
first one to give me that advice
and several others in my career,
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00:06:12,880 --> 00:06:15,760
people that I consider friends
and mentors said build the
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Rolodex on someone else's time
if you can.
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00:06:19,200 --> 00:06:21,560
You know, and believe me, I did
great work for all of those
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folks.
And I, you know, we all put in
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long hours, but you know, being
able to travel and have the
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expense account and, you know,
take the time really is I don't
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know if I, if anyone asked me
for my advice today, I would
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pass that along because
absolutely.
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00:06:35,760 --> 00:06:38,600
An institutional investor was a
good gig for you, right?
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00:06:39,560 --> 00:06:41,440
Yeah, I worked there twice in my
career.
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00:06:41,560 --> 00:06:43,720
I mean, I met my husband, some
of my best friends.
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I can't, I don't know, I need to
like send them a thank you card
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probably.
Yeah.
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00:06:49,200 --> 00:06:54,880
So tell us how it's going so
far, and what exactly would you
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like to see it evolve to?
Yeah.
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So the easiest way of describing
what Wealth Reimagined is, it's
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an editorial platform and an
advisory services business, if
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that makes sense.
So what I'm doing is doing all
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of the storytelling that I'm
well known for, right?
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So we have a wealth management,
sorry, Wealth Reimagined edit.
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So that's my digital issue every
month and that showcases Q&A's,
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00:07:22,880 --> 00:07:26,920
interviews, podcast recordings,
articles on travel and
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00:07:26,920 --> 00:07:28,960
lifestyle.
So all the things you, when you
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think of my name, we associate
with the content that's there.
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The thing that I'm really
leaning into, which feels really
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00:07:35,120 --> 00:07:39,200
good to do since I'm now
independent, is a lot more video
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content, podcasting.
I launched my own YouTube.
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Page.
You don't have to.
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Really dig into travel
permission from anybody.
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I don't have to ask permission,
right?
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And it's me.
And I think, you know, when
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you're a traditional journalist
and I also had a boss once tell
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me I wasn't kind of a journalist
and I took that as a good thing.
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You know, I always felt like I I
wanted to be part of the
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00:08:01,680 --> 00:08:03,800
connectivity of the story too,
right?
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00:08:03,800 --> 00:08:05,640
Like I had something to add as
well.
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But when you're reporting, you
know, you're the outsider,
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you're stepping back, it's the
person you're talking to.
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And while I'd never overstep
that boundary, I think now being
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in the position where I'm in to
share my insights.
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And also I have this interesting
viewpoint, right from hearing
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all of these people's stories
from over the years that
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00:08:25,280 --> 00:08:27,880
sometimes when I'm interviewing
somebody, I could say, you know,
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I just spoke to XY and Z person
the other day and then this was
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00:08:31,080 --> 00:08:33,039
their take and they love hearing
that.
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So I just feel like I could add
to the conversation more so than
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I could be for.
So yes, an editorial, digital
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magazine, YouTube content, lots
more on social media.
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So it feels very good to be
there.
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And then I have an advisory
services business, so I take on
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clients.
And a really good way of
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explaining this is sort of white
labeling the things I've done in
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the past for other places I've I
worked for, right strategy on
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00:08:57,160 --> 00:09:00,840
how to approach the family
office space, how to approach
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00:09:00,840 --> 00:09:03,720
that client, the ultra high net
worth client, writing,
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00:09:04,120 --> 00:09:07,600
podcasting, dreaming up those
editorial plans for what the
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00:09:07,640 --> 00:09:10,520
next article should look like,
that sort of thing.
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And then my other expertise is
in curating these conferences
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and experiences.
I think most people still really
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love this in person
connectivity, which will never
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00:09:20,760 --> 00:09:23,200
go away.
But this next Gen. of folks are
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00:09:23,480 --> 00:09:25,520
kind of done with the
traditional conference, right?
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00:09:25,520 --> 00:09:27,920
How do we dream it better?
How do we make it better?
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How do you and I get a chance to
go somewhere, learn something,
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00:09:31,320 --> 00:09:33,560
meet new people, and also have
fun?
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00:09:33,840 --> 00:09:36,800
So I think that's been my
calling card for a while.
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00:09:36,800 --> 00:09:40,360
So I do help clients do that.
So it could be a family office
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00:09:40,360 --> 00:09:43,200
retreat, it could be a
conference, it could be a series
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00:09:43,200 --> 00:09:45,680
of smaller events.
But obviously I'm targeting
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00:09:45,680 --> 00:09:48,520
folks that their end client is
the ultra high net worth.
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00:09:48,560 --> 00:09:51,440
And I'm able to provide those
insights into this is how you
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00:09:51,440 --> 00:09:53,960
should really develop
relationships in this space.
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00:09:54,160 --> 00:09:55,520
This is how you should approach
them.
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00:09:55,520 --> 00:09:58,760
These are some of the industry
events you can look at that are
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00:09:58,760 --> 00:10:01,480
really high, high caliber.
So that's been fun.
200
00:10:01,480 --> 00:10:05,000
And then the third thing that
Wealth Reimagine does is travel.
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00:10:05,480 --> 00:10:08,440
I'm affiliated with for a
travel, I'm certified travel
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00:10:08,440 --> 00:10:12,640
advisor, but this is really just
an amalgamation of all the
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00:10:12,640 --> 00:10:14,080
things that I've done in my
career.
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00:10:14,080 --> 00:10:18,120
So if someone hires me to do,
say, a family office retreat, I
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00:10:18,120 --> 00:10:20,080
can do everything from soup to
nuts, right?
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I could do the travel, I could
do the curation of the event.
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I could find the speakers.
I could help bring the right
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00:10:26,560 --> 00:10:30,720
humans into the seats.
I'm just trying to work smarter
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and bring the things together.
And you and I both know because
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we could talk about it for
forever.
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00:10:36,680 --> 00:10:39,200
I've travelled all over the
world, I've carried conferences
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all over the world.
I was crazy enough to plan my
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00:10:42,320 --> 00:10:45,280
own wedding in Italy so
definitely have the experience
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00:10:45,280 --> 00:10:46,640
there.
You had your wedding in two
215
00:10:46,640 --> 00:10:49,960
places, which was wild, right?
I officially had three weddings.
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00:10:50,120 --> 00:10:53,320
I got married at City Hall in
New York City and we had a real
217
00:10:53,320 --> 00:10:57,480
three day wedding in Tuscany and
then we had a party back in my
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00:10:57,480 --> 00:11:00,640
hometown of Staten Island after
it was all said and done.
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So it was great.
Same person three times.
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I can't say the same thing.
So can we without disparaging
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anybody, and I'm purposely
saying it that way or being
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harsh about the family office
conference business.
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What do you see happening there?
I mean, is there's been a fair
224
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amount of negative press about
the way conferences are run for
225
00:11:25,400 --> 00:11:27,760
family offices.
And there's lots of, we know
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00:11:27,760 --> 00:11:30,080
them all.
They're many of them are great
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00:11:30,080 --> 00:11:32,120
people.
What do you see trending there
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and how you, how would do you
see it being without giving away
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the stuff that you would
otherwise charge for?
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00:11:37,200 --> 00:11:40,720
I'm not asking for free advice,
sure, but talk, talk to us a
231
00:11:40,720 --> 00:11:43,240
little bit about what you see
going on there.
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So I alluded to this before.
I think there is a big shift in
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the traditional conference model
being dead, where people are
234
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tired of being talked at, you
know, sitting at a panel droning
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on for 45 minutes to an hour,
slow moderation.
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You know, we've all been there
and we don't go for that, right?
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We're going for the connectivity
and the, you know, the drinks
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and meeting new people.
And I think some, you know,
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places, media organizations,
conference companies just can't
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figure out how to innovate
there.
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00:12:13,120 --> 00:12:15,400
And I saw that I really was.
It's part of the reason why I
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00:12:15,400 --> 00:12:18,360
launched my own business.
I thought all they keep trying
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to do is the same old thing.
And marketing budgets for people
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that sponsor and underwrite
these vents are getting smaller
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00:12:25,320 --> 00:12:28,280
and smaller, even at the bigger,
larger banks and investment
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00:12:28,280 --> 00:12:30,040
firms that used to write the big
checks.
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00:12:30,360 --> 00:12:33,520
That's changing, right?
So now people have marketing
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dollars and they need to put it
towards something, but they
249
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they're really thinking about it
much more closely than they did
250
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in the these early 2000s where
we're marketing budgets were
251
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really fat, right?
So that's the biggest thing I've
252
00:12:46,960 --> 00:12:48,600
seen.
And then I just saw a lot of
253
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these firms not innovating, just
doing the same thing over and
254
00:12:51,280 --> 00:12:53,520
over.
And then the ironic thing that I
255
00:12:53,520 --> 00:12:57,360
saw, everyone kept talking about
succession planning in the
256
00:12:57,360 --> 00:12:59,440
family office space and wealth
management.
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00:12:59,920 --> 00:13:02,800
And then you'd look around the
conferences and it, it really
258
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skewed towards the older
generation.
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00:13:04,600 --> 00:13:07,640
And I said, well, if you don't
have people under 50 in this
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00:13:07,640 --> 00:13:10,400
audience, what's the future of
your business?
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00:13:11,360 --> 00:13:13,560
So that was another thing I
noticed that I just thought, Oh
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my goodness, we need to be 1
reaching out to younger people,
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00:13:18,000 --> 00:13:20,880
but you also have to be
providing them an experience or
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an environment that they want to
come to.
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00:13:23,200 --> 00:13:25,760
You know, this was a criticism I
used to get when I worked for
266
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firms.
They would tell me I didn't have
267
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enough young people on panels or
I didn't have enough women
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represented.
And how dare I, because I'm a
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00:13:33,200 --> 00:13:36,200
woman who loves covering topics
like women and wealth.
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00:13:36,240 --> 00:13:39,760
And I, my response to that
always was, but I'm asking them.
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I'm asking younger people,
diverse humans, like we're
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00:13:43,080 --> 00:13:46,120
trying to make this, you know, a
much more bigger picture.
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But they don't feel comfortable
coming to these events for one
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00:13:49,280 --> 00:13:52,040
reason or the other either.
It's not attractive to them
275
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either if it's too long out of
the office, you know what have
276
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you.
So I think they're the, the
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whole world is shifting towards,
it's an overused term, but like
278
00:14:00,760 --> 00:14:03,280
more experiences.
Like am I going to something to
279
00:14:03,280 --> 00:14:06,720
sit in a room for two days and
have people talk at me in a
280
00:14:06,720 --> 00:14:09,120
really dimly lit room with
rubber chicken?
281
00:14:09,160 --> 00:14:12,320
Or can I go to something where
there's this connectivity I'm
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00:14:12,320 --> 00:14:14,160
learning.
Maybe there's two or three
283
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really great speakers or there's
a workshop that I get to, you
284
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know, do something physically
and talk to the person next to
285
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me and engage in.
I think that's the future of it.
286
00:14:23,520 --> 00:14:26,080
I mean, like organizations like
Future Proof have done a really
287
00:14:26,080 --> 00:14:30,440
nice job of sort of reimagining
the large scale conference or
288
00:14:30,840 --> 00:14:33,440
what have you.
I've spoken to that event twice
289
00:14:33,440 --> 00:14:36,880
and the first time I was there,
I had to like reprogram my brain
290
00:14:37,160 --> 00:14:39,880
on how to be at an event.
They're like, there's no suits,
291
00:14:39,880 --> 00:14:41,720
there's no whatever.
And I was like, Oh my goodness,
292
00:14:41,720 --> 00:14:42,840
I don't even know how to do
that.
293
00:14:42,840 --> 00:14:45,560
And by year two, I was loving
every minute of it.
294
00:14:45,560 --> 00:14:47,880
So there's there are some
companies that are seeing that
295
00:14:47,880 --> 00:14:50,440
trend, they're responding to it.
They're trying to make it more
296
00:14:50,440 --> 00:14:52,800
fun.
Is future proof the one from the
297
00:14:52,800 --> 00:14:57,480
guy from CNBC?
Yes, it's it's run by Josh Brown
298
00:14:57,480 --> 00:15:00,920
and Ritholtz wealth management
and they tape podcasts in the
299
00:15:00,920 --> 00:15:02,800
middle of it.
They do cooking classes.
300
00:15:02,800 --> 00:15:05,760
You can take 3 or 4 different
types of exercise classes in the
301
00:15:05,760 --> 00:15:07,760
morning.
And and I will say I've, I've
302
00:15:07,760 --> 00:15:10,080
couple of women in the industry
have said this to me and I get
303
00:15:10,080 --> 00:15:12,240
it.
You know, women have it the
304
00:15:12,240 --> 00:15:14,520
worst at industry conferences
because you're wearing stupid
305
00:15:14,520 --> 00:15:17,480
high heels all day long, you're
cold, you know, you don't get a
306
00:15:17,480 --> 00:15:19,680
chance to work out.
You have to look a certain way.
307
00:15:19,680 --> 00:15:22,520
Like it's always very high
pressure exhausting.
308
00:15:22,680 --> 00:15:27,280
Have you, you know, and then you
can go to something like that
309
00:15:27,280 --> 00:15:29,440
where you feel a little bit more
like a whole person.
310
00:15:30,720 --> 00:15:34,640
So I think that's, I think that
the industry is trending that
311
00:15:34,640 --> 00:15:37,600
way.
And then for me, and maybe this
312
00:15:37,600 --> 00:15:40,880
is just my personality, but I've
always done better in smaller
313
00:15:40,880 --> 00:15:43,080
groups.
I'm not an introvert in any
314
00:15:43,080 --> 00:15:48,640
sense, but I think if it's
twenty people versus 200 people,
315
00:15:49,240 --> 00:15:50,720
I'm going to get a lot more out
of it.
316
00:15:52,000 --> 00:15:54,960
When I, when I think of curating
events or if I think of the ones
317
00:15:54,960 --> 00:15:58,080
I've gone to that I've really
enjoyed, it's the smaller scale
318
00:15:58,080 --> 00:15:59,320
stuff.
It's more intimate.
319
00:15:59,960 --> 00:16:03,200
I think you can learn more.
I, I think you could genuinely
320
00:16:03,200 --> 00:16:05,800
come away with a new friend.
And I think those, I think
321
00:16:05,800 --> 00:16:09,120
that's where the next rising
Gen. whatever we want to call
322
00:16:09,120 --> 00:16:12,760
it, younger people coming into
the industry are looking for
323
00:16:12,760 --> 00:16:15,280
because they don't want to take
three days out of the office to
324
00:16:15,280 --> 00:16:17,200
go to Convention Center in
Orlando, right?
325
00:16:17,200 --> 00:16:18,280
It's just.
It's just.
326
00:16:18,280 --> 00:16:21,720
Not the way anymore.
It's really not a lot of fun and
327
00:16:21,800 --> 00:16:27,240
many of these have also been
boondoggles for people to find
328
00:16:27,240 --> 00:16:30,720
jobs right where you go every
year.
329
00:16:31,080 --> 00:16:33,360
How's your career going?
Oh, there's somebody over here
330
00:16:33,360 --> 00:16:36,880
looking for something which is
omnipresent in almost every
331
00:16:36,880 --> 00:16:41,160
industry conference.
It's not relegated to family
332
00:16:41,160 --> 00:16:44,840
office type stuff.
So there's some of that, I
333
00:16:44,840 --> 00:16:47,960
think.
What do you think the the
334
00:16:47,960 --> 00:16:53,120
challenge, at least from my
perspective, is many of the
335
00:16:53,120 --> 00:16:58,920
people that I know that the
sponsors would like in the room
336
00:16:59,800 --> 00:17:02,960
aren't going to come because
they're doing their own
337
00:17:02,960 --> 00:17:07,119
experience with their own money
in their own way, your own
338
00:17:07,160 --> 00:17:11,640
family.
And they don't need to have
339
00:17:11,640 --> 00:17:14,839
somebody else arrange that for
them.
340
00:17:15,680 --> 00:17:19,359
And then they are the three of
50 people in the room that have
341
00:17:19,359 --> 00:17:21,359
the yellow tags and they get
accosted.
342
00:17:21,359 --> 00:17:24,560
So it's it ends up being an
unpleasant experience.
343
00:17:24,760 --> 00:17:26,480
How do you fix that?
Can you I?
344
00:17:27,920 --> 00:17:30,000
Don't know if you can.
I think that's that's the
345
00:17:30,000 --> 00:17:32,800
problem with the traditional
sponsor model and you just hit
346
00:17:32,800 --> 00:17:36,360
on the head like family offices
don't need to come to anything.
347
00:17:36,720 --> 00:17:39,680
And I think the ones that are
really well resourced while
348
00:17:39,680 --> 00:17:42,680
structured and maybe multi
generational family offices that
349
00:17:42,680 --> 00:17:45,720
are set absolutely will never
attend one of those events
350
00:17:45,720 --> 00:17:47,600
because there's there's really
no need.
351
00:17:47,920 --> 00:17:52,840
The ones that I think do I've
seen a rise in like the startup
352
00:17:52,840 --> 00:17:54,960
family office.
So maybe someone just got
353
00:17:54,960 --> 00:17:58,400
plucked from another industry or
another job to now take over a
354
00:17:58,400 --> 00:18:01,120
family office.
Those folks need the networking,
355
00:18:01,960 --> 00:18:06,240
right, because they need to
understand operations, activity,
356
00:18:06,240 --> 00:18:07,600
how do you kind of manage the
family?
357
00:18:07,600 --> 00:18:09,560
And they'll get that through the
peer networking.
358
00:18:09,760 --> 00:18:12,640
But the fact of the matter is
it's always a nice to have,
359
00:18:12,880 --> 00:18:14,480
right?
So you have to be offering
360
00:18:14,480 --> 00:18:19,280
something that is a little
unique and maybe it's a little
361
00:18:19,280 --> 00:18:21,800
bit more flexible and not as
rigid as some of those other
362
00:18:21,800 --> 00:18:25,680
groups used to be.
I think the hardest thing for me
363
00:18:25,680 --> 00:18:30,200
when I was curating them was
always almost policing who was a
364
00:18:30,200 --> 00:18:32,520
proper family office and who
wasn't right.
365
00:18:32,520 --> 00:18:36,080
That was almost the bane of my
existence for a decade plus.
366
00:18:36,080 --> 00:18:38,800
You know, who is, who's who they
say they are.
367
00:18:38,800 --> 00:18:43,800
Do they match this criteria?
I mean, I, I would argue now the
368
00:18:43,800 --> 00:18:46,480
family office of today even
looks a lot different than 15
369
00:18:46,480 --> 00:18:49,600
years ago.
And there is a lot of money
370
00:18:49,600 --> 00:18:51,600
people like.
So I think I'm a family office.
371
00:18:51,600 --> 00:18:55,240
How do I get it started?
I had a great conversation with
372
00:18:55,240 --> 00:18:58,760
a friend just last week who
business owner, what have you
373
00:18:58,760 --> 00:19:01,040
just decided he's going to
launch his own family office.
374
00:19:01,080 --> 00:19:04,360
Definitely has the capital and,
and, and you know, the presence
375
00:19:04,360 --> 00:19:07,320
and the structure to do it.
And he was telling me all about
376
00:19:07,320 --> 00:19:10,320
how he's really integrated AI
into putting this all together.
377
00:19:10,320 --> 00:19:13,120
He's got a tiny little team and
he's really kind of built out
378
00:19:13,120 --> 00:19:17,520
this virtual family office,
which I think is becoming more
379
00:19:17,520 --> 00:19:20,680
of the norm than it was in years
gone by.
380
00:19:20,680 --> 00:19:23,160
So I'm also seeing that, you
know, how many resources do they
381
00:19:23,160 --> 00:19:24,960
need?
But I guess on the flip side of
382
00:19:24,960 --> 00:19:28,480
that would be if you're building
this virtual thing and it's up
383
00:19:28,480 --> 00:19:30,560
and running, it's really
efficient, which is all great.
384
00:19:30,560 --> 00:19:34,120
And maybe it's cheaper to run it
than it did 20 years ago.
385
00:19:34,640 --> 00:19:37,600
They may want the connectivity.
They may want to sit in a room
386
00:19:37,600 --> 00:19:42,040
with peers over dinner to be
able just the camaraderie, I
387
00:19:42,040 --> 00:19:44,040
think.
So there's there's a space for
388
00:19:44,040 --> 00:19:48,320
it, but I think anybody who's
curating these events are like
389
00:19:48,320 --> 00:19:50,680
looking to build out these
groups really have to understand
390
00:19:51,040 --> 00:19:53,960
the nuances and how it's
changing, how technology has
391
00:19:53,960 --> 00:19:56,520
changed and how COVID has
changed it and just really
392
00:19:56,520 --> 00:19:59,040
ultimately knowing it's a nice
to have for family offices.
393
00:19:59,160 --> 00:20:04,160
Yeah, I've just struggled in
justifying ever doing, although
394
00:20:04,440 --> 00:20:07,320
I think you know that we did one
conference for Family Office
395
00:20:07,320 --> 00:20:10,160
insights at the UN right before
COVID.
396
00:20:11,640 --> 00:20:14,920
And I think that, I don't think
I know that there was one other
397
00:20:14,920 --> 00:20:18,400
time that we did a conference
and they were both largely
398
00:20:18,400 --> 00:20:23,560
successful in if you measured
them in terms of the legit
399
00:20:23,560 --> 00:20:27,600
family offices that showed up.
And that we didn't expect to
400
00:20:27,600 --> 00:20:33,440
monetize it in any way.
Just yeah, we weren't standing
401
00:20:33,440 --> 00:20:35,760
there at the dorm and saying
make sure we got paid.
402
00:20:36,760 --> 00:20:40,920
And that was part of the
success, is that, you know, we
403
00:20:40,920 --> 00:20:43,320
finance the thing ourselves,
more or less, right?
404
00:20:45,320 --> 00:20:47,400
I think that makes a big
difference is like, is it a
405
00:20:47,400 --> 00:20:49,360
commercial mindset?
Are you doing it for what?
406
00:20:49,440 --> 00:20:51,600
Whatever reason you're doing it
for, which makes a difference?
407
00:20:52,040 --> 00:20:54,560
And I've asked you the question,
but I'm going to partially
408
00:20:54,560 --> 00:20:58,160
answer it myself.
What we've done is just quietly
409
00:20:58,160 --> 00:21:02,200
do small events private with a
handful of people that I know
410
00:21:03,360 --> 00:21:08,200
and, and just sit around and
shoot the shit without any
411
00:21:08,200 --> 00:21:10,960
sponsor.
And I will admit that I'm
412
00:21:10,960 --> 00:21:13,560
grateful that I'm in a position
to do that because I don't have
413
00:21:13,560 --> 00:21:18,040
to squeeze every penny out of
family office insights, you
414
00:21:18,040 --> 00:21:21,440
know, So I'm in a position where
I can do that, where I don't
415
00:21:21,440 --> 00:21:23,600
have to worry.
I don't have to make sure that
416
00:21:23,600 --> 00:21:26,640
I'm making money every,
everything that we do because
417
00:21:26,640 --> 00:21:32,760
there's other stuff going on.
Do you think that the I don't
418
00:21:32,760 --> 00:21:37,640
need to belabor this, but one of
the things that I struggled with
419
00:21:38,280 --> 00:21:40,600
was that the people who were
doing the family office
420
00:21:40,600 --> 00:21:43,720
conferences, that was the way
that they made their living.
421
00:21:43,880 --> 00:21:47,000
And so they had to make sure
they made enough money out of it
422
00:21:48,440 --> 00:21:51,480
to sustain the business, their
lifestyle or whatever it is.
423
00:21:51,480 --> 00:21:54,840
And fortunately, I've been in a
position where I haven't had to
424
00:21:54,840 --> 00:21:58,440
do that right.
There's lots of other ways we're
425
00:21:58,440 --> 00:22:01,280
making money.
Do you think that the
426
00:22:01,560 --> 00:22:06,880
traditional method of sponsor
dollars catalyzing the ability
427
00:22:06,880 --> 00:22:12,200
to do a conference to get people
in the room is dead dead, or is
428
00:22:12,200 --> 00:22:14,320
it still have legs?
Good question.
429
00:22:14,360 --> 00:22:17,480
I think there is a way you could
do it more seamlessly that might
430
00:22:17,480 --> 00:22:20,320
feel more authentic today than
it did before.
431
00:22:20,800 --> 00:22:25,040
But I think where it's to pay
for play model, I think that's
432
00:22:25,040 --> 00:22:28,080
dead in my opinion, just because
it's just too hard.
433
00:22:28,080 --> 00:22:31,440
You can't once you do pay for
play where it's so many
434
00:22:31,440 --> 00:22:33,920
different sponsors just paying
to be in the room.
435
00:22:34,280 --> 00:22:37,000
You've already bastardized your
Rolodex.
436
00:22:37,120 --> 00:22:40,000
The hope of families not being
sold to every 5 seconds.
437
00:22:40,400 --> 00:22:44,640
Is there a model where you have
a sponsor, a couple maybe
438
00:22:44,640 --> 00:22:48,920
sponsors in kind Where they
just, they're just, they're
439
00:22:48,920 --> 00:22:51,360
providing something or or
they're, they're just there in
440
00:22:51,360 --> 00:22:52,680
the room and they're not
speaking?
441
00:22:52,760 --> 00:22:54,920
I think there's ways of going
about that that feels more
442
00:22:54,920 --> 00:22:57,640
authentic because I think at the
end of the day, people know, you
443
00:22:57,640 --> 00:22:59,240
know, someone has to underwrite
an event.
444
00:22:59,240 --> 00:23:02,960
So I think that's important.
So I would say always the less
445
00:23:02,960 --> 00:23:06,040
sponsors, the better.
And I think if you can make
446
00:23:06,040 --> 00:23:09,840
money elsewhere and then have
the event really truthfully be
447
00:23:09,840 --> 00:23:13,240
focused on content and
connectivity, if you could do
448
00:23:13,240 --> 00:23:15,480
that, then you've you've
definitely wanted.
449
00:23:15,480 --> 00:23:18,520
So I think there are smaller
organizations doing really great
450
00:23:18,520 --> 00:23:21,520
things in in that place.
I think the traditional media
451
00:23:21,520 --> 00:23:25,400
method that's just also has a
family office event is more
452
00:23:25,400 --> 00:23:28,600
likely to fall into that pay for
play model just because that's
453
00:23:28,600 --> 00:23:31,720
what their overall model is.
And that does work in other
454
00:23:31,720 --> 00:23:34,200
parts of finance.
It works in other industries,
455
00:23:34,200 --> 00:23:35,320
right.
But I think with the family
456
00:23:35,320 --> 00:23:39,160
offices, it just often doesn't.
Yeah, just because this is
457
00:23:39,160 --> 00:23:43,160
recorded and I don't want
anybody to get upset, I say
458
00:23:43,160 --> 00:23:47,960
don't give a shit.
Just the, you know, there are
459
00:23:47,960 --> 00:23:51,480
conferences that have become
huge, which people are happy to
460
00:23:51,480 --> 00:23:57,960
go to and pay because they get
to run around in the hallways.
461
00:23:57,960 --> 00:24:01,560
And so that's, like you said, in
other parts of finance.
462
00:24:01,560 --> 00:24:04,600
It seems to work.
Yeah, the pay play model, right.
463
00:24:05,000 --> 00:24:07,440
I think that's true, yeah.
Yeah.
464
00:24:07,720 --> 00:24:09,800
I mean, real estate's a great
example of that.
465
00:24:09,800 --> 00:24:12,200
Like there's a lot of great real
estate conferences or that's the
466
00:24:12,200 --> 00:24:15,600
model and it just works.
You know, I think the family
467
00:24:15,600 --> 00:24:18,960
office space is just so nuanced.
You also mentioned this, too.
468
00:24:18,960 --> 00:24:20,920
I mean, I think there's
different models now, right?
469
00:24:20,920 --> 00:24:24,240
There's membership models or
people pay a fee and then
470
00:24:24,240 --> 00:24:27,000
they're attending events, so
each event isn't underwritten or
471
00:24:27,000 --> 00:24:28,320
they don't have a sponsor per
event.
472
00:24:28,320 --> 00:24:31,040
That usually lightens the load.
Other things, if there's a
473
00:24:31,040 --> 00:24:33,840
nominal ticket fee to get in
where the person has to buy into
474
00:24:33,840 --> 00:24:37,880
actually wanting to be there.
Yeah, that's interesting too.
475
00:24:37,880 --> 00:24:41,120
So I think there's there are
ways of doing it, but I think if
476
00:24:41,120 --> 00:24:45,040
you focus on smaller scale and
quality, that's the best way
477
00:24:45,040 --> 00:24:47,880
forward.
Yeah, I don't mind saying I went
478
00:24:47,880 --> 00:24:50,000
for the first time, even though
I'd known about it and been
479
00:24:50,000 --> 00:24:57,480
invited prior to a conference
that's held in Cayman in
480
00:24:57,480 --> 00:25:00,480
January, I think it is.
I went for the first time last
481
00:25:00,680 --> 00:25:04,360
year and it was really good,
like, and I wrote a check and I
482
00:25:04,360 --> 00:25:06,440
paid my own way and I was happy
to do it.
483
00:25:07,000 --> 00:25:11,440
Like I didn't feel like I yeah,
that feels better to me.
484
00:25:11,440 --> 00:25:14,880
And a lot of people are not in a
position to or are willing to do
485
00:25:14,880 --> 00:25:17,480
that.
But I paid for my hotel room, I
486
00:25:17,480 --> 00:25:20,200
paid for my flights, I paid for
the ticket price.
487
00:25:20,640 --> 00:25:23,760
And it was worth it, right?
Yeah.
488
00:25:25,240 --> 00:25:27,680
So that there isn't, there's
this inherent buy in, right?
489
00:25:27,680 --> 00:25:29,480
Like you want to be there, you
pay for it.
490
00:25:29,480 --> 00:25:31,720
So I think that's that's
something that's interesting.
491
00:25:31,720 --> 00:25:35,680
Now if you price that ticket too
high, you may lose people and
492
00:25:35,680 --> 00:25:38,440
you might lose people regardless
depending on people's budgets.
493
00:25:38,440 --> 00:25:41,640
But I do think that that buy in
is important.
494
00:25:42,400 --> 00:25:44,400
I mean, even just in if we're
not even talking about the
495
00:25:44,400 --> 00:25:46,960
family office space, like just
how we buy things and how we
496
00:25:46,960 --> 00:25:50,200
attend things now, right?
I think it's this 2025 mindset
497
00:25:50,200 --> 00:25:52,920
of, you know, you're buying into
it.
498
00:25:52,920 --> 00:25:55,480
Like if it's, if it's free or if
it's coming to, you're probably
499
00:25:55,480 --> 00:25:58,680
more likely to push it aside and
not care so much about it.
500
00:25:59,400 --> 00:26:01,960
Yeah, presumably if you pay for
it, it has some value, right.
501
00:26:02,040 --> 00:26:06,880
So tell, tell us a little bit
more of how the audience who
502
00:26:06,880 --> 00:26:11,240
might be listening to this can
help you in your business and
503
00:26:11,240 --> 00:26:13,920
your new venture.
Well, I am always looking to
504
00:26:13,920 --> 00:26:17,280
share interesting stories.
So the thing that between me
505
00:26:17,280 --> 00:26:20,040
launching my business and well,
between me leaving the corporate
506
00:26:20,040 --> 00:26:22,400
world and launching my business,
I kind of took a mini
507
00:26:22,400 --> 00:26:24,000
sabbatical, which felt really
good.
508
00:26:24,080 --> 00:26:25,960
And it wasn't really sabbatical
because I have two young
509
00:26:25,960 --> 00:26:27,720
children.
But you know, I wasn't working
510
00:26:27,720 --> 00:26:29,960
for three months and I kind of
did this whole.
511
00:26:30,080 --> 00:26:33,240
You would have appreciated this,
Arthur, like a soul searching, a
512
00:26:33,240 --> 00:26:37,160
moment of a lot less screen
time, a lot less busyness.
513
00:26:37,160 --> 00:26:41,560
And I'd had this business plan
I've been sitting on and I was
514
00:26:41,560 --> 00:26:43,400
like, well, this is what I think
I have to do, right?
515
00:26:43,400 --> 00:26:46,680
Like, let me try to figure out
in the quiet moments, reading a
516
00:26:46,680 --> 00:26:51,800
book, being bored, you know,
what is it that will come to me?
517
00:26:52,840 --> 00:26:55,360
And not to sound too spiritual
or, or religious, but I was
518
00:26:55,360 --> 00:26:57,560
like, what am, what am I missing
that the universe can kind of
519
00:26:57,560 --> 00:27:00,000
tell me about?
And I learned a lot during that.
520
00:27:00,320 --> 00:27:03,400
I guess this this pause of mine
and just having conversations
521
00:27:03,400 --> 00:27:07,720
with friends with no agenda.
I was trying to figure out what
522
00:27:07,720 --> 00:27:10,960
really mattered to me, right?
Like was and and believe me,
523
00:27:10,960 --> 00:27:14,080
making money matters to me.
I'm definitely a capitalist who
524
00:27:14,080 --> 00:27:17,000
believes in, you know, making
money.
525
00:27:17,000 --> 00:27:20,080
But at the same time, I was
like, but who am I at my core?
526
00:27:20,080 --> 00:27:22,000
And it really just kept coming
up over and over.
527
00:27:22,000 --> 00:27:25,240
I'm a storyteller.
I like telling people stories.
528
00:27:25,240 --> 00:27:28,960
I like conversations like this
where it feels like we're really
529
00:27:28,960 --> 00:27:32,960
together and we're connecting.
And I wanted to focus on telling
530
00:27:32,960 --> 00:27:36,000
stories that mattered to me
because I cover the whole
531
00:27:36,000 --> 00:27:39,960
spectrum of wealth, right?
Everything from investing to
532
00:27:39,960 --> 00:27:42,840
trust in the States to, you
know, you name it.
533
00:27:42,840 --> 00:27:45,200
Like everything that I've
covered and the things that kept
534
00:27:45,200 --> 00:27:48,480
coming back to me were stories
about legacy, about lifestyle,
535
00:27:48,480 --> 00:27:52,320
about the family and this like
family connectivity, the
536
00:27:52,320 --> 00:27:55,160
dynamics.
And the other thing that was
537
00:27:55,360 --> 00:27:58,240
really resonated with me was
this connectivity about women
538
00:27:58,240 --> 00:28:00,400
and wealth, right?
We keep hearing about this great
539
00:28:00,400 --> 00:28:03,360
wealth transfer coming up and
all this money coming into the
540
00:28:03,360 --> 00:28:06,160
hands of women.
But even me in my 40s, I look
541
00:28:06,160 --> 00:28:07,560
around and talk to my
girlfriends.
542
00:28:07,560 --> 00:28:10,480
Many of them are really
underprepared, have no clue
543
00:28:10,480 --> 00:28:13,560
about the finances.
Maybe, you know, the breadwinner
544
00:28:13,560 --> 00:28:17,840
themselves or just as much as
their partner, and they're still
545
00:28:17,840 --> 00:28:20,520
not educated.
So I just felt like, OK, I want
546
00:28:20,520 --> 00:28:24,440
to tell stories that are going
to matter and that are going to
547
00:28:24,440 --> 00:28:27,120
move the needle forward and help
people be proactive in their
548
00:28:27,120 --> 00:28:28,760
lives.
So women and wealth is a huge
549
00:28:28,760 --> 00:28:30,440
component of the content I
cover.
550
00:28:30,440 --> 00:28:33,480
Philanthropy and giving back is
something, but also just
551
00:28:33,480 --> 00:28:35,800
highlighting stories about
entrepreneurs, people doing
552
00:28:35,800 --> 00:28:39,120
really interesting things,
things that may be impacting our
553
00:28:39,120 --> 00:28:41,720
world in the future.
So I think that was really
554
00:28:41,720 --> 00:28:43,600
powerful.
So, you know, people that are
555
00:28:43,600 --> 00:28:46,840
listening that may have a story
to share, may want to talk about
556
00:28:46,840 --> 00:28:48,920
it.
You know, I, I love to sort of
557
00:28:48,920 --> 00:28:51,760
share those stories that aren't
in the mainstream media that
558
00:28:51,760 --> 00:28:54,400
aren't getting the credit or
maybe they're not the senior
559
00:28:54,400 --> 00:28:56,840
professional in their
establishment.
560
00:28:56,880 --> 00:29:00,720
So, you know, how do we help
this rising Gen. share their
561
00:29:00,720 --> 00:29:03,480
stories too?
I think technology and social
562
00:29:03,480 --> 00:29:06,800
media has made there's so much
information out there, but some
563
00:29:06,800 --> 00:29:09,120
people just aren't equipped in
like getting their narrative
564
00:29:09,120 --> 00:29:11,280
right, right.
Like how do I position myself?
565
00:29:11,280 --> 00:29:14,360
How do I market myself?
How do I be part of the story?
566
00:29:14,360 --> 00:29:17,240
How do I get on the next panel?
How do I get invited to that
567
00:29:17,240 --> 00:29:20,800
next conference?
So I think, you know, people
568
00:29:20,800 --> 00:29:23,680
that are interested in sharing
those sorts of stories with me,
569
00:29:23,680 --> 00:29:26,920
I would love to hear them,
anyone that's looking and
570
00:29:26,920 --> 00:29:30,000
particularly anything that's
connected sort of this lifestyle
571
00:29:30,000 --> 00:29:34,400
legacy component, because sort
of my new thing is legacy and
572
00:29:34,400 --> 00:29:37,400
lifestyle is the new wealth and
I want to start telling those
573
00:29:37,400 --> 00:29:39,640
stories so.
It's a little overused, but
574
00:29:39,640 --> 00:29:43,800
experiences are the new sort of
aspirational wealth.
575
00:29:45,360 --> 00:29:47,440
So someone said to me today,
you're going to love this.
576
00:29:47,440 --> 00:29:49,760
I was talking with a family
office friend in London who
577
00:29:49,760 --> 00:29:51,600
always gives me the best books
to read.
578
00:29:51,960 --> 00:29:56,000
He gave me 100 year life once,
which I loved about longevity
579
00:29:56,000 --> 00:29:59,000
and how we need to look at like
our stages of our life, 9, three
580
00:29:59,000 --> 00:30:01,040
life cycles.
But you know, when maybe we
581
00:30:01,040 --> 00:30:04,880
never retire, a sort of thing.
And he gave me a book today.
582
00:30:05,080 --> 00:30:08,640
Oh, I'll pull it up right now.
And it had this concept called.
583
00:30:08,680 --> 00:30:11,240
It's called Die with 0 and.
There's a concept of.
584
00:30:11,320 --> 00:30:16,560
Roe return on experience.
Arthur, how cool is that?
585
00:30:16,560 --> 00:30:21,440
Roe return on experience And he
was explaining to me, I cannot
586
00:30:21,440 --> 00:30:24,360
articulate it well because I've
not read the book, although it's
587
00:30:24,360 --> 00:30:27,840
sitting in my Amazon cart now.
But this concept of, you know,
588
00:30:27,840 --> 00:30:30,320
we can't, we're dying, can't
take it with us, right?
589
00:30:30,320 --> 00:30:33,040
So how do we use there's a lot
of people that have all this
590
00:30:33,040 --> 00:30:37,000
wealth and maybe it aren't even
using it for any reason, right?
591
00:30:37,000 --> 00:30:38,080
They're just kind of hoarding
it.
592
00:30:38,080 --> 00:30:40,400
So how do you guess?
It would be great if you want to
593
00:30:40,400 --> 00:30:42,960
do good with it, wonderful.
But even how are you just
594
00:30:42,960 --> 00:30:45,560
enjoying it like with your
friends, your family in a way
595
00:30:45,560 --> 00:30:49,360
that's connected, you know, so I
love that concept of return on
596
00:30:49,360 --> 00:30:52,280
experience.
I'm like oh I can't wait to read
597
00:30:52,280 --> 00:30:55,680
this but.
So I've spent a fair amount of
598
00:30:55,680 --> 00:30:59,680
time with a handful of people
who have endless amounts of
599
00:30:59,680 --> 00:31:02,720
money.
And I learned this through a
600
00:31:02,720 --> 00:31:07,520
friend in detail, because he's
kind of the expert at it is
601
00:31:07,520 --> 00:31:10,720
instead of doing the
traditional, I've got to make
602
00:31:10,720 --> 00:31:14,520
sure I pass all this money on
and make sure my heirs have.
603
00:31:15,920 --> 00:31:18,880
Why don't you figure out what
your best life is and live it
604
00:31:18,880 --> 00:31:23,680
now, right?
Because the money is, is
605
00:31:23,680 --> 00:31:25,280
meaningless, right?
It's not.
606
00:31:25,280 --> 00:31:29,120
It's just there.
And so I think that part of the
607
00:31:29,120 --> 00:31:33,000
paradigm shift was everybody's
telling me I have to secure my
608
00:31:33,000 --> 00:31:38,480
stay rich money, which is fine,
But meanwhile I'm agonizing over
609
00:31:38,480 --> 00:31:41,840
spending your 50 grand on a
vacation for my family.
610
00:31:42,000 --> 00:31:46,800
And I should be doing that
willingly and maybe 100, right,
611
00:31:46,840 --> 00:31:50,200
Because it's it doesn't even it
doesn't even make a dent, right.
612
00:31:50,720 --> 00:31:52,800
But meanwhile I get to spend
time with my family.
613
00:31:53,200 --> 00:31:57,120
I don't know if you saw the Have
you watched Land Man with Billy
614
00:31:57,120 --> 00:32:00,280
Bob Thornton?
No, put on the list, land man,
615
00:32:00,400 --> 00:32:02,440
got it.
No, this is epic.
616
00:32:03,400 --> 00:32:06,880
He he's making the rounds now
because he has the next episode.
617
00:32:07,440 --> 00:32:11,840
But Taylor Sheridan, who did
film that was largely filmed in
618
00:32:11,840 --> 00:32:13,840
Park City, UT, what was the name
of it?
619
00:32:13,960 --> 00:32:18,080
I'll think of it in a second.
Anyway, so there's a scene in
620
00:32:18,080 --> 00:32:23,640
Land Man where the guy that owns
the Dallas Cowboys comes in to A
621
00:32:23,880 --> 00:32:28,800
to this is not a spoiler to
basically Land Man's an oil guy
622
00:32:29,240 --> 00:32:32,920
and the guy that owns the oil
company is on his deathbed.
623
00:32:33,480 --> 00:32:35,680
You know, he's young, but he's
so stressed out.
624
00:32:35,680 --> 00:32:38,880
And the guy that owns the Dallas
Cowboys comes in and makes his
625
00:32:38,880 --> 00:32:42,400
big speech that everybody loved
about how he's in.
626
00:32:42,640 --> 00:32:45,600
The best thing he ever did was
being business with his family.
627
00:32:46,080 --> 00:32:49,320
So his family and his kids could
be part of his business.
628
00:32:49,320 --> 00:32:52,240
And that far exceeded the
exponential wealth that he's
629
00:32:52,240 --> 00:32:55,120
created.
But his stories like that that
630
00:32:55,160 --> 00:32:59,840
are moving and it's been talked
about in the media quite often,
631
00:32:59,880 --> 00:33:02,160
despite how bad the beat he is
in general.
632
00:33:02,200 --> 00:33:04,400
And then there's another scene
in land man.
633
00:33:04,400 --> 00:33:09,240
It's a must watch by the way,
Kristen or talks about climate
634
00:33:09,240 --> 00:33:13,240
change and why we all are
dependent on oil because it's
635
00:33:13,240 --> 00:33:17,160
all about the oil, the business
of oil and how hard it is and
636
00:33:17,160 --> 00:33:19,720
dangerous it is.
But it also Billy Bob Thornton
637
00:33:19,720 --> 00:33:22,640
makes his big speech to somebody
who doesn't really understand
638
00:33:22,640 --> 00:33:25,320
how much oil we actually use and
that we have to continue to
639
00:33:25,320 --> 00:33:28,320
produce it until we find
appropriate replacements.
640
00:33:28,320 --> 00:33:33,560
And it's, yeah, epic dialogue,
the storytelling thing that you
641
00:33:33,560 --> 00:33:36,160
would love just because that's
exactly what it is.
642
00:33:36,600 --> 00:33:39,160
It says, wait a minute, you're
looking at it from a from a
643
00:33:39,400 --> 00:33:41,920
perspective that we don't need
oil.
644
00:33:41,920 --> 00:33:44,280
Well, we need it until we find
something else, right?
645
00:33:44,360 --> 00:33:46,520
And it is just, well, that's.
Fascinating.
646
00:33:46,720 --> 00:33:51,760
Yeah, great stuff.
I love finding books or TV that
647
00:33:51,760 --> 00:33:55,120
sort of relate to our space
because I actually put that in
648
00:33:55,120 --> 00:33:56,840
every of my one of my digital
issues.
649
00:33:56,840 --> 00:33:59,720
I always say what I'm reading or
I'm watching or what have you.
650
00:33:59,720 --> 00:34:03,120
And I love to hear that.
OK, land man, I've got it and
651
00:34:03,120 --> 00:34:05,680
you have to read Die with Zero
and we'll reconnect.
652
00:34:06,000 --> 00:34:11,400
Yeah.
So the storytelling is, I mean,
653
00:34:11,480 --> 00:34:15,120
back to the original Romans and
Greeks and Shakespeare.
654
00:34:15,120 --> 00:34:17,080
I mean, it's always been about
storytelling.
655
00:34:18,320 --> 00:34:21,800
You bet.
And Andreessen Horowitz just
656
00:34:21,800 --> 00:34:26,360
came out today and it's like I
this is not like an epiphany,
657
00:34:26,360 --> 00:34:31,760
but they're saying storytelling
will be the gold of this
658
00:34:31,760 --> 00:34:36,560
generation because everything
else can be done by ChatGPT
659
00:34:37,400 --> 00:34:41,679
except for the human element in
the end, right?
660
00:34:42,320 --> 00:34:44,639
And so it can make up great
stories.
661
00:34:44,639 --> 00:34:46,760
We were just, Mary and I were
just laughing this morning
662
00:34:46,760 --> 00:34:51,239
because The New Yorker comes out
with those cartoons and then it
663
00:34:51,239 --> 00:34:55,199
asks the audience to to write
the caption.
664
00:34:55,199 --> 00:34:57,280
And then you win.
If you write the caption that
665
00:34:57,280 --> 00:35:02,160
they select.
Well, you can feed that cat that
666
00:35:02,160 --> 00:35:06,120
cartoon into chat TTV and have
it write the caption for you,
667
00:35:07,000 --> 00:35:10,240
but it's no original thought.
Like what fun is that right so.
668
00:35:10,840 --> 00:35:13,640
It's so funny you said this
because I had this argue with my
669
00:35:13,640 --> 00:35:18,200
dad recently because he's hopped
up on understanding AI and that
670
00:35:18,200 --> 00:35:21,160
every business will be listen.
I have talked and written too
671
00:35:21,160 --> 00:35:25,040
much about how AI is being, you
know, it's in everything and we
672
00:35:25,040 --> 00:35:27,080
we have to embrace it.
Like there's there's no way that
673
00:35:27,080 --> 00:35:29,600
we're not embracing it.
And but my father was saying,
674
00:35:29,600 --> 00:35:31,960
you know, looking at his two
young grandkids, my kids saying,
675
00:35:31,960 --> 00:35:33,720
well, they're going to have to
like learn AI.
676
00:35:33,720 --> 00:35:35,520
And I said they'll have to learn
to use it.
677
00:35:35,520 --> 00:35:38,280
I said, but you know, the things
I'm going to teach my kids, it's
678
00:35:38,280 --> 00:35:40,760
how to talk to somebody, it's
how to create a relationship,
679
00:35:40,760 --> 00:35:43,280
it's how to network.
What's going to happen is people
680
00:35:43,280 --> 00:35:45,520
are just going to go so far into
technology.
681
00:35:45,520 --> 00:35:48,960
The commodity that's going to be
sought after is someone with a
682
00:35:48,960 --> 00:35:52,880
personality that has an ability
to be articulate and to connect
683
00:35:53,080 --> 00:35:56,680
and to tell a story verbally or
maybe in public who you know,
684
00:35:56,680 --> 00:35:59,280
every company is going to
eventually need a CEO that can
685
00:35:59,280 --> 00:36:02,560
speak on CNBC and get out there
and someone you know,
686
00:36:02,560 --> 00:36:05,840
salespeople will still need to
exist because you know, there
687
00:36:05,840 --> 00:36:08,760
needs to be this connectivity.
And I said, that's commodity.
688
00:36:08,760 --> 00:36:11,560
I want to teach my kids.
I want them to like look
689
00:36:11,560 --> 00:36:13,760
somebody in the eye and say, hi,
Arthur, nice to see you.
690
00:36:13,920 --> 00:36:16,520
Where did you vacation last?
Right there in creating this
691
00:36:16,720 --> 00:36:20,640
ability for connection because
that's what Chachi BT won't be
692
00:36:20,640 --> 00:36:23,080
able to replicate.
And yes, I'm not saying let's
693
00:36:23,080 --> 00:36:26,240
not understand it and utilize it
in a way that makes sense to
694
00:36:26,720 --> 00:36:29,280
streamline our businesses.
I mean, AI has helped a lot
695
00:36:29,280 --> 00:36:33,240
actually in the launch of my own
business and being able to make
696
00:36:33,240 --> 00:36:36,160
decisions faster and streamline
efficiencies for sure.
697
00:36:36,640 --> 00:36:39,600
But yeah, I think we all need to
still be able to tell stories,
698
00:36:39,640 --> 00:36:42,320
you know?
Tell stories, engage with
699
00:36:42,320 --> 00:36:48,320
people, look somebody in eye the
eye, have a handshake, be be
700
00:36:48,320 --> 00:36:51,160
genuinely interested in what
somebody's saying and list
701
00:36:51,160 --> 00:36:53,200
actually listening.
Right?
702
00:36:53,200 --> 00:36:57,920
Because most people don't.
No, I could see it every zoom
703
00:36:57,960 --> 00:36:59,040
I'm.
Interesting to see.
704
00:36:59,040 --> 00:37:01,240
I was like, oh.
If we just made a phone call,
705
00:37:01,240 --> 00:37:03,080
maybe someone would be.
Forced to listen over here a
706
00:37:03,080 --> 00:37:07,560
conversation, you would be
forced to listen, right How many
707
00:37:07,560 --> 00:37:09,800
times have you been in a
conversation and the person that
708
00:37:09,800 --> 00:37:12,240
you're talking to is just
waiting for you to shut up
709
00:37:12,240 --> 00:37:14,480
because they have the next thing
on their mind that they want to
710
00:37:14,480 --> 00:37:18,400
say they're not even listening
to you, right And I'm I'm being
711
00:37:18,400 --> 00:37:21,720
critical of that.
As you know, most people are bad
712
00:37:21,720 --> 00:37:28,400
listeners and I think that with
the immediate gratification
713
00:37:28,400 --> 00:37:31,240
nation that we've created
through screen times and all
714
00:37:31,240 --> 00:37:34,080
these social networks, I'm not
saying anything that's, you
715
00:37:34,080 --> 00:37:37,600
know, hasn't been said before,
but you know, the sound bites
716
00:37:37,600 --> 00:37:40,960
and people getting, you know,
you said when you were bored.
717
00:37:41,600 --> 00:37:44,720
I don't think I've been bored in
50 years and I'm not being
718
00:37:44,720 --> 00:37:48,880
critical of you, but like.
I'm only do it on airplanes and
719
00:37:48,880 --> 00:37:51,560
when I'm on a bus, I try to put
my phone down.
720
00:37:51,560 --> 00:37:54,680
I don't connect to the Internet,
and I try to just stare out the
721
00:37:54,680 --> 00:37:56,800
window.
I really do because I think, and
722
00:37:56,800 --> 00:37:58,880
believe me, I'm not doing
anything perfectly in terms of
723
00:37:58,880 --> 00:38:02,080
shutting down screen time.
But that's been my new If I'm on
724
00:38:02,080 --> 00:38:05,000
a bus going to New York City, if
I'm on an airplane going
725
00:38:05,000 --> 00:38:07,680
somewhere, maybe I'll watch a
movie if it's a long flight.
726
00:38:07,680 --> 00:38:10,000
But after that it's reading or
staring at the window.
727
00:38:10,000 --> 00:38:12,320
Totally, Yeah.
Yeah.
728
00:38:12,320 --> 00:38:15,680
When I would regularly just
stare out the window in New York
729
00:38:15,680 --> 00:38:18,520
City because it's so much fun,
you know, taking an Uber from
730
00:38:18,520 --> 00:38:21,440
one place to another, it's
always interesting to see what's
731
00:38:21,440 --> 00:38:23,840
going on there.
But yeah, I think that the
732
00:38:23,840 --> 00:38:28,040
storytelling and then the
editing skill was going to be
733
00:38:28,040 --> 00:38:32,200
super valuable because you can
have the AI do all the grunt
734
00:38:32,200 --> 00:38:34,120
work.
Then you have to look at it and
735
00:38:34,120 --> 00:38:35,800
say, does this make sense?
Right.
736
00:38:35,880 --> 00:38:37,880
Absolutely.
I mean, I do that all the time.
737
00:38:37,880 --> 00:38:40,960
I I'm a copious note taker and
especially, and believe me, it
738
00:38:40,960 --> 00:38:44,280
does cut down on time.
And I did a really interesting
739
00:38:44,600 --> 00:38:47,400
AI for journalism program before
I left Crane, which was very
740
00:38:47,400 --> 00:38:50,560
valuable to me.
But you have to be looking at
741
00:38:50,560 --> 00:38:52,960
that two or three times.
Like they don't get it.
742
00:38:52,960 --> 00:38:56,240
They don't understand new ones.
They may attribute a quote to
743
00:38:56,240 --> 00:38:59,040
the wrong person.
You know, like you have to be
744
00:38:59,040 --> 00:39:03,800
saying, OK, this is going to cut
down my time by 70%, but I need
745
00:39:03,800 --> 00:39:06,200
to.
And I think that's hard though
746
00:39:06,480 --> 00:39:11,000
for early career people, right
mid stage, late stage career
747
00:39:11,000 --> 00:39:13,160
where we know what we're doing,
like we're programmed to
748
00:39:13,160 --> 00:39:16,280
understand the nuances.
But if you're 25 and you're
749
00:39:16,280 --> 00:39:18,400
early in a job, you don't know
those nuances yet.
750
00:39:18,400 --> 00:39:21,640
So it's really hard to use that
from soup to nuts, Like those
751
00:39:21,640 --> 00:39:24,360
are gut check things that we've
all just sort of developed.
752
00:39:24,360 --> 00:39:27,240
So I do think it's interesting
to see how the younger people
753
00:39:27,240 --> 00:39:29,680
are utilizing it.
But they're if they forget the
754
00:39:29,680 --> 00:39:32,240
human element of it, so much is
going to be lost.
755
00:39:32,240 --> 00:39:35,040
And writing is going to be one
of those like pure articles,
756
00:39:35,040 --> 00:39:38,880
books, what have you, is very
much involved in in that sort of
757
00:39:38,880 --> 00:39:41,880
connectivity in the media.
But you need to have that human
758
00:39:41,880 --> 00:39:44,960
connection to make it a story
worth telling, I think.
759
00:39:45,440 --> 00:39:49,920
That and let's just look at the
sales part of the thing.
760
00:39:50,360 --> 00:39:54,720
Nothing happens until something
is sold, and the AI is not going
761
00:39:54,720 --> 00:39:58,080
to sell something for you.
Might create a nice funnel,
762
00:39:58,280 --> 00:40:02,040
create a series of posts, create
some activity, but you still
763
00:40:02,040 --> 00:40:05,040
have to pick up the phone or sit
across the table and say,
764
00:40:05,400 --> 00:40:07,600
listen, there's a $2,000,000.
Deal.
765
00:40:07,600 --> 00:40:11,160
We're sitting and we're going to
shake hands on it and you like
766
00:40:11,160 --> 00:40:13,680
me, I like you.
We're going to make this happen.
767
00:40:14,280 --> 00:40:17,320
It's still shit has to be sold.
I'm telling you, sales people
768
00:40:17,320 --> 00:40:19,120
are going to be a great
commodity going forward, Pete.
769
00:40:19,120 --> 00:40:21,920
Like the people that truly know
how to sell because they are
770
00:40:21,920 --> 00:40:25,080
listening and they're curious
about the person they're selling
771
00:40:25,080 --> 00:40:26,680
to.
That's going to be an art form
772
00:40:26,840 --> 00:40:29,560
that is going to be highly
sought, I think sought after in
773
00:40:29,560 --> 00:40:31,480
in this future of AII.
Think so too.
774
00:40:32,480 --> 00:40:37,640
Yeah, the the editing of the
output with the human element
775
00:40:37,640 --> 00:40:40,000
and the nuances will be hugely
valuable.
776
00:40:41,000 --> 00:40:44,720
So how can everybody, before we
wrap things up, tell everybody
777
00:40:44,720 --> 00:40:46,360
how to find you?
Fabulous.
778
00:40:46,360 --> 00:40:49,280
You can find me on LinkedIn at
Kristen Oliveri.
779
00:40:49,560 --> 00:40:52,600
You can find me on Instagram at
Chris Oliveri.
780
00:40:53,000 --> 00:40:56,520
I have a YouTube channel under
Wealth Reimagined and you can
781
00:40:56,520 --> 00:41:00,000
find me on my website
wealthreimagined.com.
782
00:41:00,200 --> 00:41:02,960
So many ways to get into.
Yeah, so can we.
783
00:41:02,960 --> 00:41:05,680
For example, you're doing a
podcast now.
784
00:41:05,680 --> 00:41:09,360
Right, just on my own.
I'm doing videos on the YouTube
785
00:41:09,360 --> 00:41:11,520
channel.
But we can repost.
786
00:41:11,520 --> 00:41:14,480
I haven't gone so far as to,
yeah, you can do all those
787
00:41:14,720 --> 00:41:18,280
things and I will obviously post
this on on my site, but I
788
00:41:18,280 --> 00:41:21,480
haven't gone.
I'm taking it like baby steps.
789
00:41:21,600 --> 00:41:25,680
I'm trying not to overwhelm
myself day by day, but I was
790
00:41:25,680 --> 00:41:28,400
thinking it was a little easier
to produce videos than a full
791
00:41:28,400 --> 00:41:30,360
length podcast.
But I mean, who knows?
792
00:41:30,520 --> 00:41:33,360
That could be my future.
Yeah, I think you should.
793
00:41:34,240 --> 00:41:34,840
Sure.
It's a bad word.
794
00:41:34,840 --> 00:41:36,400
I think it would be productive
for you.
795
00:41:36,400 --> 00:41:38,840
So I don't mind having this on
the recording, too.
796
00:41:39,200 --> 00:41:41,080
What was?
And she's going to kill me for
797
00:41:41,080 --> 00:41:42,720
not remembering her name because
she was so sweet.
798
00:41:42,720 --> 00:41:48,240
Your friend who stepped up at my
son's art showing at Nouriel
799
00:41:48,240 --> 00:41:49,600
Roubini's house.
Goodness.
800
00:41:50,120 --> 00:41:51,520
You remember I called.
Was I there?
801
00:41:51,640 --> 00:41:53,840
I wasn't there.
I know I gave you somebody, but
802
00:41:53,920 --> 00:41:56,640
yeah.
Was your friend that we sat on
803
00:41:56,640 --> 00:41:58,480
top of the sole house a couple
times?
804
00:41:58,840 --> 00:42:03,520
Your girlfriend, who was the
actress Joanna?
805
00:42:03,520 --> 00:42:07,000
Joanna Yeah.
My best friend Joanna, Yeah.
806
00:42:07,160 --> 00:42:09,680
Yeah, yeah.
Remember she, she stepped up
807
00:42:09,680 --> 00:42:15,720
when Tyler, my son, was in the
like an urgent need that was so
808
00:42:15,720 --> 00:42:17,480
great of her.
Yeah, Joanna.
809
00:42:17,760 --> 00:42:19,600
Joanna's the best.
Yeah, she's still the best.
810
00:42:19,600 --> 00:42:21,560
She's still living her best life
in New York City, too.
811
00:42:21,680 --> 00:42:24,240
Good to hear.
Yeah, yeah, yeah.
812
00:42:24,320 --> 00:42:27,080
I have to say hi to her so.
I will.
813
00:42:27,080 --> 00:42:28,760
I'll tell you said hi.
Would you?
814
00:42:28,920 --> 00:42:30,720
That would be awesome, yeah.
I will.
815
00:42:31,040 --> 00:42:33,320
Yeah, this has been great.
So good to see you.
816
00:42:33,320 --> 00:42:35,320
I'll see you in New York City
without I'll.
817
00:42:35,720 --> 00:42:39,560
I'll let you know when we're
coming in and then we'll make
818
00:42:39,560 --> 00:42:41,320
sure everyone gets a copy of
this.
819
00:42:41,320 --> 00:42:43,240
We'll go get have Greek food,
obviously.
820
00:42:44,800 --> 00:42:46,560
Let's do it.
Thank you, Arthur.
821
00:42:46,800 --> 00:42:48,440
So fun.
Thank you for having me.
822
00:42:50,080 --> 00:42:51,200
You're welcome.
Thank you.
823
00:42:51,360 --> 00:42:52,600
Thank you, everybody, for being
here.
824
00:42:52,640 --> 00:42:53,720
All right, the recording's off.