I think that companies like StubHub, Tickpick, and Vividseats have a high chance of going bankrupt over the next year. Their business model will implode if too many customers ask for returns.
What do you do when 90% of your customers want refunds at the same time? Just reverse all of the transactions and give them the cash back, right? 🤔
👉 This is not possible with Stubhub because, they already paid the cash to the resellers (while taking a 15% cut). So if they want to refund the customers… they only have 15% of the cash they originally had 😲.
It’s like this… Imagine you pay a pizza delivery guy a commission to deliver your pizza. If the customer wants a refund, you can refund them the cost of the pizza… but it would be impossible to give the customer the pizza delivery guy’s hourly wage and tips! That person has already been paid out. But in this case, the wage and tips represent the majority of the cash.
I’m no CFA, but someone tell me if I’m not understanding the cash flows here correctly…
Personally I love buying tickets from these websites. But I’m quite afraid my concert tickets to the Weekend I purchased may become worthless if the company becomes insolvent.
Jim answered honestly and transparently. Great content. He also used some humor to lighten the mood, a much-needed pause from the pandemic.
Here were my favorite jokes:
“If you put a Red Hat together with big blue, you get a purple shirt which I would have wore… but I didn’t do my laundry yesterday” 😂
“I have a lot of experience but I’m also new to IBM. At the office I would still be trying to find the bathroom… but luckily I’m working from home so I know where it is” 😂😂
“No I’m probably not gonna write a new book, but maybe when I retire I can write a new one describing how IBM became the defining technology company of the 21st century just as it was in the 20th century” 🙏🙏🙏
To me, small perks like these make a difference! And to see one of the largest technology companies in the world offer a perk that is most often found at the smallest technology companies in the world… to me that represents a shift in culture.
If this gave you a chuckle, give it a like. I may make more videos about every day business life in the future. 😊
I have officially ‘landed’ on IBM‘s Data Science team. Here’s a picture expressing the way I feel about it: 🚀🌕 Data Science isn’t rocket science – in simple terms its helping clients discover insights from their data to improve business decision-making.
Sales training? Everyone’s got a method. Software demo training? Rarely taught, but critical for tech workers 💻! Last week I attended Demo2Win, a two-day workshop that teaches professionals how to effectively demo software.
Learning: Imagine you are showing your manager a report, a customer your software, or even a friend a new app that you love… here’s a proven methodology you can follow:
Don’t just jump into “showing” right away! 😲
1️⃣ TELL them what you are going to show them in simple 1-2-3 steps (Or else they might get caught thinking.. ok where is this presentation going?)
2️⃣ SHOW them (Avoid saying “click this or that”. Say “If you want to…” Focus on their intention, not features.)
3️⃣ TELL them the benefit. Answer the most important question – SO WHAT?
Demos are to help people see what they can achieve, not to show how a technology works.
Thanks for the workshop & for awarding my demo with a mobile tabletop. Now I can stand while I demo like a pro 🤵
Our final project for IBM Global Sales School was a written proposal + 30 minute presentation to a panel of judges roleplaying a client. Applying our learnings from the previous six months, and working together in a hotel room til midnight for two nights, Team Red was able to deliver and score 1️⃣ First Place in our class
Here’s a 3 minute cut-down version of our 30 minute presentation. I’d love to show more but we can’t give away too much to future students of the program =)
When I was graduating I selected IBM over various options because I believed it to provide one of the best corporate sales training programs in the world. I can now affirm it to be true. ✅✅ The past six months of training have been so valuable and jam-packed with unique offerings delivered from the best, all across the USA ✈️. I felt the need to capture a piece of it in video form before it was all over.
I’d like to thank Team Red for a memorable finish and the Summit Program Management for providing what I wanted and more out of a New Graduate Program 🙏. I look forward to bringing this solid foundation to our clients as I transition to the field over the next 6 months. #IBM#IBMSummitProgram#GlobalSalesSchool
After 6 whole months of training, we graduated!! (Photo of my team below)
For the past few months IBM I have been trying to figure out what IBM is doing in the Blockchain space – today we got to speak to originator himself
Jerry Cuomo, VP Blockchain Technologies at IBM, shared the story about the pioneering of the Hyperledger project and the business value the FoodTrust project and TradeLens project are providing today.
At the most primordial level, all blockchains require a consensus method, immutability, and some type of incentive for participants to join the network. Whether the blockchain is then public or permissioned, it depends on the use case desired.
Along his 30+ years at IBM he has published many patents, help found WebSphere software, and has testified in front of the US Government advising on the impact of digital currencies.
If you want to know something you have to find the original source of truth. Safe to say, I had all my questions answered clearly!