Scaramucci Says He's 'Bullish' on Economic Recovery at Daylong 'Quarantine Conference'
The novel coronavirus has rattled businesses and closed conferences globally, from Austin's much-anticipated SXSW event to the recently rescheduled Milken Institute Global Conference. All this at a time when businesses leaders are disoriented and looking for guidance on how to navigate the crisis.
In order to fill that void, L.A. marketing agency Hawke Media gathered together a motley assortment of speakers Tuesday for a self-described "no-contact networking and idea exchange." We listened into the discussions:
Which businesses are benefiting from the coronavirus?
Scott Taylor asked panelists on Hawke Media's Future of Marketing panel which industries are benefiting from the coronavirus, based on the data that they are seeing from inside their companies. Here's what they had to say.
Ashley Crowder, head of VNTANA, which provides software for creating 3D products, pointed to augmented reality, virtual reality, and digital content. "I met people in a virtual bar last week," she said. "It was very fun."
Jonathan Smalley, Chief Executive of Yagaura, an e-commerce data management firm, noted that he's seen sales numbers climb among verticals as disparate as bread-making, CBD and hemp, and home goods.
John Bree, of Supply Wisdom, touted his own firm's specialty, risk intelligence. "The whole world of crisis management is going to change," he observed. Bree also predicted that lawyers and doctors will do well as the coronavirus chaos levels off. "There'll be a lot more babies and a lot of divorces."
How is social distancing changing the ways we engage with music?
At the start of this year, the live music industry was poised for success. Projections envisioned a 4% year-on-year incremental growth of $37 billion. Then the coronavirus spread from Asia to Europe and finally to America. By the end of March, explained music marketing expert Joe Belliotti, the industry was kaput.
To fill the gap, fans have gone online. Views on TikTok and YouTube have skyrocketed. And live streaming of music has exploded. Although some in the live events business have been clobbered, new opportunities have emerged that leverage the authenticity, excitement and social nature of live-streamed music. Innovative partnerships have sprung up, like that between BandsInTown and Twitch; a proliferation of fundraising events have bloomed; and brands have increasingly recognized the importance of bringing comfort to their audiences and not just enabling transactions.
Such brands, Belliotti suggested, have three clear opportunities in this new era. They can leverage new experiences: a furniture company could, for instance, partner with a musician streaming from her bedroom; or a travel company could sponsor concerts from artists collaborating from across the world. Brands can also cross-market, by reimagining how music is released and promoted: think virtual album release parties, or peeling back the curtain on the recording process. And brands can enhance the everyday moments -- waking up, getting coffee, taking an afternoon break -- that have taken on a new meaning in the time of coronavirus; afternoon dance party, anyone?
Scaramucci says he's 'wildly bullish' about economy
Echoing the optimism of his former boss about the future of the economy, former White House communications director Anthony Scaramucci said the U.S. economy will recover much fast than most people expect from the coronavirus pandemic.
"I'm wildly bullish," he said Tuesday. "All the gloom and doom that is out there I'm not a buyer of."
Scaramucci said that unlike the financial crisis, there is no underlying problem with the economy, which remains strong. And he says the overwhelming amount of government stimulus, which he pegs at $10.4 trillion, will more than make up for the financial hit of the virus, which he says is in the neighborhood of $3.7 trillion. He expects the government to launch an additional stimulus program aimed at "Main Street" that would be targeted at lower and middle income Americans.
"It will lower people's anxiety," he said.
Scaramucci, who is founder of the investment firm Skybridge, joined the webinar from his study and his kids could be heard playing in the other room. Scaramucci said he has been in quarantine for 25 days.
Using visualization and other techniques to cope with COVID-19's psychological toll
As we're cut off from family and friends, watching staggering layoffs unfold, considering an uncertain future and constantly hearing the pandemic's death toll, everyone is confronting new realities that are challenging us all. But founders and others in high-performing jobs can look for some coping mechanism to help them thrive in this new world said entrepreneur and former Navy Seal trainer Brandon Webb.
One of the most important is goal-setting and visualization. Those tools can help individuals reframe their situation and help them achieve higher levels of performance. Another key tool is remaking your self image.
"If you think of yourself a certain way, or you have self-doubt, you have to identify that. It's okay. It exists in everybody. And then you have to fix it," he said. Part of that is through changing how you talk about and think about yourself.
Webb, the founder of Crateclub.com said he also doesn't tolerate negativity in the office and suggests others avoid airing co-workers faults openly.
Todd Herman, author of "The Alter Ego Effect" has another strategy. The business coach suggested individuals facing new and difficult tasks look to take on the characteristics of other people they admire as a way to escape the mire of emotion that may overwhelm them. He points to Dr. Martin Luther King Jr., an intellectual giant who would use non-prescription glasses to write his empowering speeches.
This approach, he said, helps individuals unshackle themselves when they are having an emotional response that can lead to poor decision-making. "Most people don't think about creating a panel or trusted friend within the six inches of our own ears to help us navigate questions, to us think about something in a different way."
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California is the world's largest legal pot market, generating nearly $3.1 billion in spending in the Golden State alone. But cannabis-related businesses in the U.S. live in a legal-limbo, operating in this strange gray area between federal laws that make marijuana illegal and states that have decriminalized its use and sale entirely. This has led to sometimes difficult choices, workarounds and issues with which the cannabis and cannabis-linked companies are forced to contend.
Hilary Bricken, Partner of Harris Bricken
Hilary Bricken, Partner of Harris Bricken<p>Since joining Harris Bricken in 2010, Hilary has earned a reputation as an exceptional and fearless business law attorney. Hilary's clients—start-ups, entrepreneurs, and companies in all stages of development—value her bold approach to business strategy. Hilary also appears before city councils and community forums, where she advocates tirelessly for her clients.</p><p>In 2017, the American Bar Association (ABA) named Hilary one of the <a href="https://www.americanbar.org/news/abanews/aba-news-archives/2017/07/aba_young_lawyersdi/" target="_blank">top 40 young lawyers</a> nationwide and before that <a href="http://www.bizjournals.com/seattle/news/2013/12/14/newsmakers-of-2013-deal-makers.html" target="_blank">The Puget Sound Business Journal</a> named her as one of only seven deal makers of the year. She was by far the youngest and the only private practice attorney to garner this honor. Hilary was also named one of "<a href="http://www.bizjournals.com/seattle/print-edition/2015/09/11/2015-40-under-40-hilary-bricken.html" target="_blank">40 Under 40</a>" leading businesspeople by the PS Business Journal. In every year since 2014, Hilary has been chosen as a "Rising Star" lawyer by Super Lawyer's magazine.</p><p>Major media outlets like the New York Times, VICE, the Los Angeles Times, Chicago Tribune, Business Insider, CNN, Rolling Stone, Forbes, MSNBC, and Bloomberg all have turned to Hilary for her on-the-ground perspective on cannabis laws. Hilary's <a href="https://www.youtube.com/watch?v=0M4Fse1Ioaw" target="_blank">Tedx talk</a> on "big cannabis" (see below) has garnered more than 50,000 views and she also authors a weekly column for <a href="https://abovethelaw.com/tag/hilary-bricken/" target="_blank">Above the Law </a>on marijuana policy and regulation.</p>
Tanya Hoke, Managing Director of Galen Diligence
Tanya Hoke, Managing Director of Galen Diligence<p>Tanya has more than a dozen years of experience managing investigative due diligence for clients in industries ranging from pharmaceuticals and manufacturing to financial services and consulting. She has been advising investors in the cannabis industry since 2015, and focuses on issues relating to fraud, money-laundering, compliance, and corporate governance. Tanya is a Certified Fraud Examiner, a Certified Anti-Money Laundering Specialist, and a licensed private investigator. She has served on the National Cannabis Industry Association's Banking & Financial Services Committee and the State Regulations Committee. Tanya received a Bachelor of Arts degree from Swarthmore College and a Master of International Business degree from the Fletcher School at Tufts University, where she serves on the MIB Alumni Advisory Board.</p>
Brad Rowe, Director of Compliance, Operations and Regulations Analyst of Rowe Policy Media
Brad Rowe, Director of Compliance, Operations and Regulations Analyst of Rowe Policy Media<p>Brad has designed, implemented and delivered a dozen public policy research projects over the last six years through his time running BOTEC Analysis, at UCLA and with Avenu/MuniServices Cannabis Compliance and Support Services and Rowe Policy + Media. Brad is Lecturer of Public Policy at UCLA Luskin School of Public Affairs and recently started teaching Cannabis Policy and Society, the first of its kind in the country. </p><p>He serves as Advisor to the UCLA Cannabis Research Initiative, coordinating the Criminal and JuvenileJustice Research team and the California Cannabis Data Collection Project. He sat on the CommunityAdvisory Committee for the Los Angeles County Department of Health's impact assessment on cannabis. </p><p>In 2020 Brad has taken on the cannabis "dosing problem". To help naive and legacy consumers dose new cannabis products predictably and reliably. The HowHi App Data Project provides evidence based insights into the Quality, Duration and Amplitude of the cannabis experience. The variables are crowd-sourced via experiential self-reports on iOS and Android interfaces. </p>
Andrew Freedman, Senior Vice President at Forbes Tate Partners
Andrew Freedman, Senior Vice President at Forbes Tate Partners<p>Andrew brings vast experience from his three years as the State of Colorado's first Director of Cannabis Coordination. During this time, he developed distinctive experience effectively implementing voter-mandated legalized adult-use and medical cannabis while protecting public health, maintaining public safety, and keeping cannabis out of the hands of children.<br><br>Andrew's role in developing a successful operating model for cannabis regulation and stakeholder collaboration was identified as one of the reasons for the State of Colorado's success in implementing adult-use cannabis legalization by the Brookings Institution. Governor Hickenlooper has gone so far as to praise Andrew's work while on national television, stating, "Andrew Freedman, who came in and helped us once it was passed . . . [has] done a remarkable job of creating a regulatory framework."<br><br>Andrew has received national recognition for his leadership. Men's Health Magazine named him one of the 30 most influential health influencers of the last 30 years. He was recognized as one of Fast Company's "100 Most Creative People in Business" in 2016. He has been featured on 60 Minutes, NBC Nightly News, The Today Show, The New York Times, The Washington Post, The Wall Street Journal, The Boston Globe, Governing Magazine, and dozens of local stories throughout the nation and internationally.</p>
Tami Abdollah, Senior Reporter at dot.LA
Tami Abdollah, Senior Reporter at dot.LA<p>Tami Abdollah is dot.LA's senior technology reporter. She was previously a national security and cybersecurity reporter for The Associated Press in Washington, D.C. She's been a reporter for the AP in Los Angeles, the Los Angeles Times and for L.A.'s NPR affiliate KPCC. Abdollah spent nearly a year in Iraq as a U.S. government contractor. A native Angeleno, she's traveled the world on $5 a day, taught trad climbing safety classes and is an avid mountaineer.</p>
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The Genius Fund was at full tilt in the spring of 2019, riding the cannabis green rush and executing millions of dollars worth of projects. And it was just getting started.
With plans for a grow operation underway, the company created a research arm to find a new way to produce a high-quality CBD oil and extract for use in the products it was developing, including sparkling water and candles. But, like many of the company's plans, there were bumps along the way.