Future of Crypto Currency and boom in Ethereum Mining - 2018

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РЕЛИЗ ГРУППЫ "What's News" VK.COM/WSNWS CONGRATS PLATINUM SPONSOR TO THE 2018 HONOREES PRESENTED BY Forbes and SHOOK Research have teamed up to host the second annual gathering of the world’s top preeminent wealth advisors and industry leaders. This exclusive forum—convening a group that represents nearly $1 trillion of assets under management—will provide the industry’s highest-level insights tailored for America’s most elite advisors. PARTNERS SUPPORTING SPONSOR
РЕЛИЗ ГРУППЫ "What's News" VK.COM/WSNWS Entrepreneurs HOW TO PLAY IT BY JOHN BUCKINGHAM At Armonk, New York’s IBM, spreading the gospel of diversity has been a priority during the tenure of chief executive Virginia Rometty. She wasn’t dealt a pretty hand when she took the helm in 2012, but she has played many of her cards well, buying back stock and boosting the dividend. She’s also invested heavily in IBM’s Strategic Im peratives business, which includes analytics, cloud, mobile and security and accounts for nearly 50% of sales. The stock has a 3.6% dividend yield and is a bargain at 12 times next year’s earnings. John Buckingham is chief investment officer of AFAM Capital and editor of The Prudent Speculator. lieve that diversity is in itself a core strength that will enable us to write better software and build better products,” he wrote. In line with more than 80% of startups, according to a 2017 Crunchbase study, Gusto’s three founders are men. Kim and Gusto’s CEO, Joshua Reeves, both 34, met as undergrads in Stanford’s electrical engineering department. They launched Gusto in 2012 along with Tomer London, 33, an Israeli immigrant who got to know Reeves while a Ph.D. student at Stanford. Like its boom-and-bust competitor, Zenefits, which launched the following year, Gusto sells cloud-based comprehensive subscription software to small businesses to help them manage employee records like payroll and health benefits. At the outset Gusto even had a similar name, ZenPayroll, which it changed in 2015 when it started offering a more complete selection of employee-tracking software. Zenefits attracted $584 million in venture capital and hit a valuation of $4.5 billion in 2015 before running into regulatory problems related to the way it sold health insurance. It sacked its CEO, reworked its business model and saw its valuation slashed to $2 billion. Gusto, meanwhile, grew less feverishly. By late 2015 it had raised $176 million from firms like CapitalG (formerly Google Capital) and General Catalyst, and 75 individual investors handpicked by Reeves, including Ashton Kutcher and PayPal cofounder Max Levchin. That year it broke through to a $1.1 billion valuation. Forbes estimates Gusto’s annual revenue at nearly $100 million. At the start, Gusto’s founders acknowledge, diversity was on the back burner, and as it grew, they found that it didn’t happen organically. When it came time to hire a chief operat- DIVERSITY ing officer in 2015, they made it a priority to find a woman. Lexi Reese, a veteran of Google and American Express, is one of two women on the six-person executive team, and firmwide, women account for 51% of Gusto’s 525 employees. Even after Gusto began its diversity initiative, applications from women didn’t flood in. Gusto assigned two in-house recruiters to the job, and it hired TalentDash, a Singapore-based firm that sources talent, to look exclusively for women. Though hiring women engineers took more time, Kim says, Gusto never dropped its standards. “It bothers me when people say that prioritizing diversity lowers the bar in terms of the caliber of talent you’re able to hire,” he says. “That is simply not true.” Nor, he says, was there any pushback from inside Gusto. Gusto also addressed its compensation policy. Since 2016 its salaries have been audited by Mercer, a human resources consulting firm, which has found no gender pay disparity. Benefits include 16 weeks of paid leave for a primary parent, plus an additional $100 a week for groceries and food deliveries, $100 a month for six months of housecleaning and up to $500 for a baby-sleep coach. Gusto’s women- only recruiting effort lasted six months. It stopped, Kim says, because “we exceeded our goals.” In 2015 Gusto was trying to hit 18% women engineers, the proportion majoring in computer science as undergraduates, according to the National Center for Education Statistics, and it reached 21%. Since then it has started staffing a Denver office, where it aims to increase the engineer head count by at least 25 this year and where the company is reprising its women-only recruiting strategy. Now that 17 of Gusto’s 70 engineers are female, it’s getting a little easier, says Gusto’s HR head, Maryanne Brown Caughey. “It’s kind of a domino effect,” she says. “Women know they’re joining a welcoming community.” While Gusto has made progress, its engineering team has no Latinos and no African-Americans. Kim says Gusto has two hiring goals in 2018: senior women and racial diversity in engineering. “The way we make progress is by focusing on one problem,” Kim says, “and then we move on to the next.” FINAL THOUGHT “Urging an organization to be inclusive is not an attack. It’s progress.” —DASHANNE STOKES MARGIN PROPHET WAREHOUSE À LA CARTE Getting goods from supplier to store is a $163 billion global industry ripe for a rethink, says Sean Henry, the 21-year-old cofounder of Stord, an Atlanta-based on-demand warehouse service. So you’re a kind of warehouse Airbnb? Customers choose us not just for our warehouses but for our software. The industry runs off emails, phones and faxes—the average warehouse order takes 25 minutes of human interaction. We said, “If we build software to give customers more transparency into trucks and warehouses, we can help them be more efficient.” How many facilities do you have? In the ballpark of 160. We go to mom-and-pop operators and tell them Stord can give them access to customers that wouldn’t otherwise use them. How do you persuade them to adopt this new model? Everyone’s competing on delivery speed against Amazon. We can integrate our software into their existing warehouses, then see where they need to add distribution points in Stord’s network for a better supply chain. How fast can Stord move? If Walmart in Georgia orders 5,000 units from a supplier and that supplier needs a new warehouse in Atlanta, they can get it within 24 hours. MARGIN PROPHET BY AMY FELDMAN LEFT: THOMAS KUHLENBECK FOR FORBES 50 | FORBES FEBRUARY 28, 2018
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Future of Crypto Currency and boom in Ethereum Mining - 2018

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