Adam Miller's Second Act

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Adam Miller's Second Act
Some of the companies and non-profits in Adam’s orbit

This is Part II of our deep dive on Adam Miller, one of LA’s most successful (and philanthropic) tech entrepreneurs. When we left off Adam’s story last week, he had just sold his Santa Monica-based HR tech company Cornerstone OnDemand for $5.2B in 2021.

(If you missed Part I last week, you can find that here.)

After 20 years of company building and an exit like Cornerstone’s, most of us would take a deep breath and think about retirement, or at least a very long vacation. But Adam Miller is not a guy who sits still. He embarked on Act II of the Adam Miller story. You can think of his second act in two parts: Social Impact and Entrepreneurship.

Social Impact

As early as college, Adam began work on homelessness fundraising and advocacy, which has remained a core area of focus to this day. While at Cornerstone, Adam prioritized serving on the boards of several nonprofits rather than sitting on corporate boards (as many other prominent CEOs do). Most notably, for nearly a decade, Adam was chairman of Team Rubicon, a veteran-led organization focused on disaster response. Team Rubicon has led over 500 operations in response to events like the devastating 2010 Haiti earthquake, Hurricane Sandy, the war in Ukraine, and many others. Team Rubicon is now one of the largest disaster relief organizations in the world, with over 160,000 volunteers, and hundreds of thousands of disaster victims served. He also helped create FARE, the world’s largest food allergy nonprofit.

Now that was all during his tenure at Cornerstone. After leaving, Adam stepped on the accelerator in his nonprofit work. Adam and his wife Staci dived deep into the mechanics of nonprofits. How were they structured? What is the state of the art? How can we most effectively translate dollars into results?

They found a few things, but two of the most important were:

  1. There had been little innovation in the space for years.
  2. Most effective charitable organizations were integrated across multiple dimensions from grant giving, to direct on the ground action, to political advocacy, to social impact investing.

Put a pin in 1, but based on 2, Adam and Staci founded 1P.org (1P stands for One Planet), which has dedicated its efforts to addressing intractable problems in our society. 1P.org has built concentric circles of focus from local (homelessness) to state-level (workforce development) to national (gun safety) to global (climate change), and operates different organizations attempting to solve each problem.

Most relevant to our LA community are the organizations focused on homelessness and workforce development, Better Angels, and LA-tech.org, respectively.

Better Angels’ mission is to end the epidemic of homelessness in Los Angeles by unlocking the power of the LA community. The organization is tackling homelessness from every angle, including providing micro-loans to prevent vulnerable Angelenos from becoming unhoused, creating an affordable housing REIT to build housing, and developing technology to better meet unhoused individuals where they are. To learn more or get involved with Better Angels, click here.

LA-tech.org is a nonprofit coalition of LA’s top tech companies built to expand economic opportunities for LA’s underserved communities. Adam conceived of LA-Tech’s core initiative following the murder of George Floyd: finding internships for 1,000 LA students of color at LA’s great tech companies. People thought he was crazy, but after two years, the organization has passed 950 internships and is now setting its sights on 1,000 new internships per year. To learn more or host interns at your company, click here.

As if all this philanthropic activity isn’t enough to keep one person busy, Adam has gone back to the world of entrepreneurship. Remember we said that during his research, Adam found nonprofits hadn’t seen much innovation in years?

Entrepreneurship (Again)

Adam is back in the founder/CEO seat. His new company is called Instil, and the company’s goal is to bring the tech infrastructure for nonprofits into the modern era. Instil is a mobile-first SaaS product that gives nonprofit operators visibility into donations, community, membership, volunteers, and data. The company is a for-profit business focused on nonprofit impact and has raised funding from top investors like LA-based Greycroft, Threshold, USVP and Bessemer Venture Partners.

So are we finally done cataloging Adam’s second act, with a multitude of nonprofit boards, running a full nonprofit himself, and starting a new venture backed software business? Of course not.

Adam is also incubating, advising and supporting additional startups where he serves as Executive Chair, including Groundswell, the β€œRobinhood of philanthropy,” and Clovers, a company reinventing the interview process. In addition, he continues to invest in early stage companies through 1P Ventures.

So how does Adam keep all this straight?

According to Adam things are easier today than they were in the Cornerstone days.

β€œCornerstone was very complex - it had many different businesses, and by the end, I was spending 70% of my time on the road, traveling. Today we have amazing tools. I run everything with Zoom, Slack and Evernote. It also helps that I’ve gone through every stage of a company. I make decisions faster. It’s easier to raise money, easier to hire. I can do things in a fraction of the time.”

For the rest of us mere mortals, all we can do is watch with our jaws on the floor and hope to make a tenth of the impact that Adam has made and continues to contribute.

From Pitch Meetings to Power Lunches: LA’s Exclusive Membership Clubs πŸ—οΈ

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Summer's here, so it's time to zhuzh up your work environment. Discovering the best membership and social clubs in Los Angeles for meetings can boost networking and collaboration, offering exclusive venues and premium amenities tailored for professionals and creatives to thrive amidst the city's vibrant backdrop. These clubs provide a sophisticated setting for productive gatherings and meaningful connections in LA. Here are some top private member clubs perfect for meetings and productive work sessions.

The Jonathan Club

Club Details: The Jonathan Club, one of Los Angeles' original membership clubs, has been a cornerstone of the city's elite social scene since its founding in the mid-1890s. Its legacy is intertwined with the growth and development of LA itself, most notably through a pivotal meeting held at the club that sparked the idea for a southern campus of the University of Californiaβ€”what would eventually become UCLA. Today, the Jonathan Club continues to offer its members an unparalleled experience of exclusivity and refinement. With locations in both DLTA and Santa Monica, members enjoy access to premium amenities and spaces and a calendar with hundreds of social events and workshops throughout the year, providing ample opportunities for networking, personal growth, and leisure activities.

Membership Details: Initiation fee is around $50,000, and admission typically requires that you be invited or know someone who is already a member.

Spring Place

Image Source: Spring Place

Neighborhood: Beverly Hills

Club Details: A mix between co-working space and social club, this Beverly Hills hotspot is a more exclusive version of similar clubs. Spring Place Beverly Hills spans three floors and offers a stunning art collection. The interior is filled with tons of natural light and has an intentional design that fuels members to harness some of their best work. Members also have access to luxurious dining and nightlife pop-ups that happen at Spring Place.

Membership Details: There is a non-refundable initiation fee of $500 and then local membership for people under 30 starts at $300 per month, while monthly membership for locals over 30 is $600.

Griffin Club

Image Source: Griffin Club

Neighborhood: Cheviot Hills

Club Details: Located in Cheviot Hills, Griffin Club LA is a sporty club with ample shared workspace. Following a $20M renovation in 2020, the club now boasts seven LED-lit tennis courts, four LED-lit pickleball courts, two recreational lap pools, a 25-meter family pool for kids, an adults-only resort pool, and childcare services. It's the ideal destination for a clientele looking to mix work with competitive sport.

Membership Details: Membership is by invitation only and is subject to approval. Membership prices at the club vary. A family membership entails a $12,000 initial fee plus a $450 monthly fee, while a junior membership only entails a $2,000 initiation fee and a $205 monthly fee.

Soho House West Hollywood

Image Source: Soho House West Hollywood

Neighborhood: West Hollywood

Club Details: Soho House West Hollywood provides a stylish and exclusive work and meeting destination, featuring chic meeting rooms and workspaces with panoramic views of Los Angeles. Combining luxury amenities with a creative atmosphere, it offers an ideal setting for networking, collaboration, productive sessions, and an amazing Sunday brunch!

Membership Details: Two current member referrals are needed, plus an online application, and a recent photo to confirm your identity. Quarterly memberships start at $675.25, but if you’re under 27, you can pay $337.75 quarterly. However, if you want access to every house, membership costs $5,250.00 annually, or $2,650.00 if you’re under 27.

Little Beach House Malibu

Image Source: Little Beach House Malibu

Neighborhood: Malibu

Club Details: The Little Beach House Malibu is a small, local club for the creative community of Malibu and the surrounding coastal areas. The club is known for its magnificent dining room, bar, sitting room and terrace. It is the perfect place for a truly memorable work meal.

Membership Details: Malibu Beach House is not included in the Soho House membership. If you are an existing member, you can apply for β€œMalibu Plus” for an additional $2,190 a year, or $1,095 if you’re under 27.

San Vicente Bungalows

Image Source: San Vicente Bungalows

Neighborhood: West Hollywood

Club Details: San Vicente Bungalows is an exclusive, members-only social club located in West Hollywood, California, offering a luxurious and private environment for its high-profile clientele. The club is renowned for its strict privacy policies, elegant decor, and high-end amenities, catering to celebrities (and royals) and industry elites seeking a discreet space to unwind and socialize.

Membership Details: You must be nominated by a current club member to apply. Applications are evaluated monthly and annual dues start at $4,200 plus a $1,800 initiation fee.

The Aster

Image Source: The Aster

Neighborhood: Hollywood

Club Details: The Aster, located at the iconic intersection of Hollywood Boulevard and Vine Street, redefines the modern members' club with its emphasis on warmth and hospitality, blending public hotel amenities with private club exclusivity. Featuring bright, airy spaces and top-notch facilities such as an outdoor pool, recording studio, and rooftop bar, it offers a fluid environment for work, relaxation, and socializing.

Membership Details: Memberships start at $3,600 per year and be acquired by filling out an application. In addition to uploading a photo, hopeful members also have to write a small bio while highlighting their interests, skills, profession, and hobbies.

NeueHouse

Image Source: NeueHouse

Neighborhood: Venice/Hollywood/DTLA

Club Details: NeueHouse in LA is a chic private workspace and cultural hub designed for creative professionals, offering sophisticated workspaces, a dynamic calendar of cultural programming, and luxurious amenities. Situated in three bustling neighborhoods across LA, it provides a collaborative environment where members can work, network, and unwind in style.

Membership Details: You have to apply for the Salon membership, which includes questions like β€œdream dinner guests (dead or alive?)." Annual dues for Salon memberships are $3,000 plus a $200 joining fee. You can also inquire about the Gallery membership for flexible workspaces and offices for individuals or teams, starting at $595 per month, with various options depending on your needs.

πŸ§¬πŸ”¬AI-Driven Drug Discovery

πŸ”¦ Spotlight

Terray Therapeutics is at the forefront of AI-assisted drug discovery and development, operating a cutting-edge laboratory in Monrovia, California. The facility, roughly two-thirds the size of a football field, functions as a data powerhouse, generating over 50 terabytes of raw data daily, which is an amount of information equivalent to 12,000 high definition movies, through its miniaturized automation processes.

Terray Therapeutics exemplifies a new wave of innovative companies harnessing artificial intelligence to revolutionize drug discovery and development. The key to their approach lies in generating vast amounts of high-quality experimental data to train their AI systems. This data-driven strategy enables rapid experimentation and pattern recognition, allowing the AI to make informed predictions about potential treatments. Terray's generative AI can digitally design drug molecules, which are then synthesized and tested in their high-speed automated laboratory. The platform measures the interaction between these molecules and target proteins, with both successful and unsuccessful results feeding back into the AI system.

This iterative process creates a powerful feedback loop, continuously refining the AI's predictive capabilities and accelerating the drug discovery process. Terray's tNova platform integrates chemical experimentation and computation at an unprecedented scale, producing massive amounts of precise, purpose-built data that becomes increasingly valuable with each cycle of design and experimentation. This unique blend of experimentation and computation allows Terray to efficiently explore a vast molecular space, potentially solving complex problems in drug discovery faster and more effectively than traditional methods.

🀝 Venture Deals

LA Companies

  • Fuze Technology, a provider of rentable portable phone chargers, has raised a $11.5M Series A led by Beverly Pacific and joined by Palm Tree Crew, Bain Capital Ventures Scout Fund, Dream Ventures, Live Nation, ASM Global, SCIENCE Ventures, Haslem Sports Group, and Simon Ventures. - learn more
  • Stanly, a platform that offers fan-to-fan and artist-to-fan communication and commerce, raised an $8M Funding Round led by C Capital and joined by AppWorks, Goodwater, and Palm Drive Capital. - learn more
  • GrayMatter, an industrial robotics company, raised a $45M Series B led by Wellington Management and joined by NGP Capital, Euclidean Capital, Advance Venture Partners, SQN Venture Partners, 3M Ventures, B Capital, Bow Capital, Calibrate Ventures, OCA Ventures, and Swift Ventures. - learn more

LA Venture Funds

LA Exits

  • Webtoon Entertainment, an online cartoon company based in LA carved out of South Korea's Naver, set IPO terms to 15m shares at $18-$21. It would have a $2.6b fully diluted market value, were it to price in the middle, and plans to list on the Nasdaq (WBTN). - learn more
  • EV maker Fisker has finally filed for bankruptcy. - learn more
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Sony Pictures Experiences Division Formed After Alamo Drafthouse Acquisition

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Sony Pictures Experiences Division Formed After Alamo Drafthouse Acquisition

πŸ”¦ Spotlight

Sony Pictures Entertainment has acquired Alamo Drafthouse Cinema in a groundbreaking deal that marks the first time in over 75 years a major Hollywood studio will own a movie theater chain. This acquisition signals a potential shift towards vertical integration in the film industry, with Sony gaining more control over the distribution and exhibition of its films.

The deal allows Sony to expand its presence in experiential entertainment, aligning with its vision of engaging audiences outside the home through unique offerings. Alamo Drafthouse's innovative dine-in movie experience, devoted fanbase, and curated programming like Fantastic Fest make it an appealing acquisition target. Sony stressed that Alamo will continue operating its 35 locations under CEO Michael Kustermann, who will head the new Sony Pictures Experiences division.

While the move provides financial backing for Alamo after its bankruptcy struggles, questions remain about whether the chain can maintain its independent spirit and personality under Sony's ownership. Alamo is renowned for creative programming like themed events, interactive screenings, and a strict no-talking policy that has cultivated a passionate community of moviegoers. Balancing this distinct identity with Sony's corporate interests will be a key challenge moving forward.

From a technological standpoint, this move opens up possibilities for Sony to enhance the moviegoing experience at Alamo Drafthouse locations through integration of advanced audiovisual systems, immersive technologies, and projection/sound solutions. In addition, Sony could create a more seamless and connected experience for moviegoers, such as through integrated ticketing platforms, mobile apps, and personalization driven by data analytics. While specific technological plans are not detailed, the combination of Sony's resources and Alamo Drafthouse's innovative approach could foster synergies and drive the development of new technologies to differentiate the theatrical experience further.

🀝 Venture Deals

LA Companies

  • Apex, a satellite bus maker, raised a $95M funding round co-led by XYZ VC and CRV joined by Upfront Ventures, 8VC, Toyota Ventures, Point72 Ventures and others. - learn more
  • Regard, a developer of AI tools to help medical providers synthesize patient data, raised a $30M Series B led by Oak HC/FT at a $350M valuation. - learn more
  • Daisy, a small business tech installation startup, raised an $11M Series A co-led by Goldcrest and Bungalow. - learn more
  • Pyte, a startup that allows companies in highly regulated industries like finance and healthcare to perform computations on encrypted data without ever decrypting it, raised a $5M Funding Round led by Myriad Venture Partners. - learn more

LA Venture Funds

LA Exits

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