WebRic Elias was given the gift of a miracle: to face near-certain death, and then to come back and live differently. You lived for a period of time in Japan. WebOn a cold afternoon in January 2009, Ric Elias was flying home to Charlotte, North Carolina, in seat 1D when he saw fear flood a flight attendant's eyes. And what we realized is that it was better to own the brands and then connect deeply to the partners than just to work on behalf of the partners. Mr. Elias, who spoke with me in the companys bright and sprawling cafeteria, had played basketball that morning with a former N.B.A. [1:37:30]; If Ric could go back and talk to himself in the morning before getting on that plane, what would he say? Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Brian Kelly: That's it for this episode of Talking Points. Founder, Chairman and CEO of BDT & Co. (Byron Trott), Byron Trott launched the Chicago-based advisory and private equity firm BDT & Co. in 2009 following a long career at Goldman Sachs, where he worked his way up from stockbroker to vice chairman. That acquisition included The Points Guy, a site devoted to elucidating airline mileage programs and credit card deals. WebRed Ventures was formed on September 29, 1999, in Fort Mill, South Carolina by Ric Elias and Dan Feldstein. Elias was on Flight 1549 when it unexpectedly landed unhurt on the Hudson River in 2009, an event he claims transformed his life. Improve earnings, maximize rewards and track progress toward dream trips. We are here to help! He said, "Don't worry. And by then, my wife had found out that I was on that plane. Very inciteful. Still reeling from the catastrophic incident, Ayers said he turned to philanthropy as a sort of mental therapy. Sitting on the hospital bed, its what gave me the purpose and what gave me the strength to get through the challenges, he told Forbes in a phone interview. Comments requesting medical advice will not be responded to, as I am not legally permitted to practice medicine over the internet. Their Googling and mandatory corporate retreats led them to the companys South Carolina headquarters, a 180-acre campus with a cluster of modern buildings, a fire pit, a six-lane bowling alley, spin room, pickle ball courts and 264 residences for employees who choose to live where they work. WebRic Elias (on stairs). And I remember they were just like, "In 10 minutes, you've got to talk to this guy, Ric." We're incubating a bunch of brands, as you know, and we have lots of plans and ideas. She had just heard the captain say: "Brace for impact." AAE is one of the premier celebrity booking agencies and top keynote speakers bureaus in the world. I did the next morning. (Mr. Diller, a more typically immodest media figure, said in an email that he finds Mr. Elias impressive but that there is only one Barry Diller: I think of myself as all points on the compass.). Native of Puerto Rico, graduate of Boston College and Harvard Business School. I felt for a long time like I was somewhat dreaming. And I've had the greatest run in my marriage, any marriages ever have. There's a startup community there. Brian Kelly: I highly recommend -- Ric has a TED talk, "The three things I learned when my plane crashed." Brian Kelly: And so it's been an amazing gift to get that second chance. And this first responder is amazing. Brian Kelly: That's great. In 2019, he launched a podcast, 3 Things with Ric Elias, as a continuation of the learning journey he shared on the TED stage. So we ended up on the same side, and after a while I see him standing by himself. We unite through discovery. Many have come back. I said, "Captain," I introduce myself, and I said, "I just want to thank you for saving our lives." Rics life leading up to the day of the plane crash [5:30]; The plane crashWhat its like knowing youre about to die, feelings of regret and sadness [11:15]; The improbable plane landing in the Hudson River [19:00]; Emotions after the safe landing (and a story hes never told before) [25:45]; A powerful story about Captain Sully [29:30]; Earning his second chance at life, and playing the infinite game [38:30]; Why time is the ultimate currency, and how (and why) to say no [46:15]; Raising kids in an achievement culture, Rics definition of life success, and what Ric wants to instill in his kids [53:00]; What Ric believes is actually worth getting upset about, and the organizations that are taking steps to help people [1:09:00]; The core principles of Red Ventures (Rics company) [1:19:15]; Rics tips for developing business acumen and negotiation skills [1:29:30]; What qualities does Ric look for in people he wants to work with? The Times story said the company has a conservative valuation of $11 billion, and Elias owns more than 20% of the company, putting his net worth over $2 billion. In this episode, Ric Elias, founder of Red Ventures, opens up about the fateful day he knew for certain that he was going to die as a passenger on US Airways Flight 1549. Ric, thank you so much for joining us today. Having been a passenger on the Miracle on the Hudson plane in 2009, Red Ventures CEO Ric Elias is famously familiar with crashes. And you know what he said to me, Brian? WebSee Ric Elias's compensation, career history, education, & memberships. I think we got plenty going on right now. You can either give your life to work or give your life to family. And I don't know why do we lower ourselves to settle into what party are we from, what race are we from. The couple, who married in January 2021, launched Sydney-based Canva in 2013 with cofounder Cameron Adams. Ric Elias: We ended up in the same pier. Right as you're taking off, did you hear the birds go in? The home sits in between two key Panthers facilities. The talk of planes prompted me to ask Mr. Elias how he got back to the Carolinas after the Hudson River landing. The arrival of Red Ventures executives hasnt always gone over well among the journalists who find themselves working under Mr. Elias. And then we'll have a class for college graduates in late summer. And I said, "The way I figured out was really simple is, if I don't get on this flight, I may never get on a flight. 05:11 Elias: It doesn't matter. Mr. Elias and Mr. Feldstein sold the business to management in 2005 and started again under the name Red Ventures, becoming pioneers in that eras efforts to link digital data and real world commerce. Ric Elias: Why is it an or and not an and? In addition to Lonely Planet, CNET, Healthline and The Points Guy, Red Ventures bought the education advice site BestColleges. Ric Elias: It is opportunity. In 2018, Elias launched Forward787, a social enterprise committed to raising and deploying $100 million to build businesses in Puerto Rico that compete with the worlds top companies. I don't have anything. Excellent podcast. Brian Kelly: And so Red Ventures made a name for itself really working with DIRECTV and having sales centers, basically connecting online to offline sales, right? [3], Red Ventures was formed on September 29, 1999,[4] in Fort Mill, South Carolina by Ric Elias and Dan Feldstein. And eventually we launched a campaign called Rebuild Puerto Rico. A native of Puerto Rico, Elias attended Boston College and Harvard Business School before starting his career as part of GE's Financial Management program. And they were trying to decide, do they go back to LaGuardia, so they got clearance in LaGuardia. The Points Guy had built a profitable business earning commissions whenever people signed up for credit cards they had read about on the site often in rave reviews of high-end cards. And I was furiously Googling you and Red Ventures, and everyone's saying, "Oh, it's like the Google of the East Coast." I wouldn't be surprised if we have 50 brands. This is hand up. And I realized I wanted to live the rest of my life out of this platform, and that I could do all the things that meant something to me around making a difference for others inside of the company and not even have to retire, do it after this life. I remember even recently, your birthday, there was a whole Puerto Rican celebration, some drums. And they're like, "Oh, my God. Brian Kelly: And an amazing wife Brenda, who Ric Elias: But it took a while for me to realize that that was my job in this world first and foremost. Its location has helped obscure what is perhaps the biggest digital publisher in America, a 4,500-employee juggernaut that says it has roughly $2 billion in annual revenues, a conservative valuation earlier this year of more than $11 billion, and more readers, as measured by Comscore, than any media brand youve ever heard of an average of 751 million visits a month. He cofounded Red Ventures Thats the context in which Red Ventures a company that backed its way into media after specializing in online marketing makes sense. And we made an announcement that we would train Puerto Ricans in Charlotte for 15 months, and we will send them back with real capital and some digital assets and start building a real digital economy there. The company weathered the storm; by 2007 it was ranked fourth on the Inc. 500 list, and in 2015 the company was valuated at more than $1 billion. TPG parent company CEO Ric Elias describes surviving 'The Miracle on the Hudson', This post contains references to products from one or more of our advertisers. So thank you for joining Talking Points Podcast today. In line with the data-driven operations of The Trade Desk, Green, who disclosed his participation in The Giving Pledge last month, said he plans to invest in projects where we can apply data to understand progress, mistakes and opportunities. He noted a particular interest in improving access to education, which he described as the great equalizer., Founder and CEO of Shift4 Payments (Jared Isaacman), Started out of his parents New Jersey basement when he was 16 years old, Jared Isaacman runs the Allentown, Pennsylvania-based payment processing firm Shift4 Payments. 2008, 2009, 2010, that was the value proposition. These low-profile media companies are riding a shift in technology as both Apple and regulators have eroded the dominance of the creepy advertising technology that allows companies to track you across websites. Tune in weekly and tell your friends -- we love our listeners. Brian Kelly: You have two beautiful children. He returned from that near-death experience determined to remake his life and his company. A native of Puerto Rico, Elias attended Boston College and Harvard Business School before starting his career as part of GE's Financial Management program. Brian Kelly: Likewise. Update: A previous version of this article incorrectly stated that there were 16 new members of The Giving Pledge in 2020. Please Note: All American Speakers Bureau is a full-service talent booking agency providing information on booking Ric Elias for speaking engagements, personal appearances and corporate events. The Silbermanns fortune comes from the 2010 launch of Pinterest, which Ben Silbermann cofounded alongside Evan Sharp and Paul Sciarra. And in their training, what you find out is that means we are not landing at a runway. Please remember to subscribe to Talking Points, rate the show, and share with your friends. Why does it take a crisis to be Americans above other things? At the center of the company is Ric Elias, the chief executive and co-founder. Courtesy Red Ventures. Green is the billionaire founder of one of the U.S.s largest digital advertising technology companies. INDIAN LAND, S.C. Lindsey Turrentine first heard of Red Ventures last fall, when it bought the venerable tech news site CNET, where she is the senior vice president in charge of content. Thank you Peter and Ric. Despite a daunting media industry landscape, Red Ventures has found success through its acquisitions of popular sites like Lonely Planet and Healthline. And we have 200 employees in London and 100 in Brazil and 2,000 in the U.S. We have offices everywhere, so a bit of a mess, but a fun mess. WebOn a cold afternoon in January 2009, Ric Elias was flying home to Charlotte, North Carolina, in seat 1D when he saw fear flood a flight attendant's eyes. Elias, a Puerto Rico native, has also started several nonprofits, including Road to Hire, Golden Door Scholars and Forward787, a social enterprise in Puerto Rico. Courtesy Red Ventures. Red Ventures, which started as a digital marketing company, has attracted serious investments from private equity firms. He cofounded Red Ventures A deeper concern may be what it will mean to transform the internets independent arbiters into nothing more than the gaping maw of the sales funnel. Brian Kelly: So I sold The Points Guy in 2012 to Bankrate, which was a publicly-traded company. Find the right card for you. This is not a hand down. Brian Kelly: And some of the key reasons for people leaving, is it mostly opportunity and jobs, or is it just the whole infrastructure that's pretty much decrepit? They couldn't land. Red Ventures is all about profit maximization, said JT Genter, who left the site more than a year ago. On this episode, you'll hear work-life balance advice, you'll be inspired to support a cause you're most passionate about and you'll learn a bit more about TPG's place in the Red Ventures ecosystem. A lot of people ask me, a lot of our employees, "So how do you think about work/life balance?" I think we can become a role model of what can happen in the future, make talent, stay in the island or retain to the island. Ric Elias: Thanks for having me. Ric dives deep into how that day impacted his life, greatly changed his perspective, and improved his relationship with his family and the broader community. A native of Puerto Rico, Elias attended Boston College and Harvard Business School before starting his career as part of GE's Financial Management program. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Non-lame, weekly emails on thelatest strategies and tacticsfor increasing your lifespan, healthspan, and well-being (plus new podcast announcements). That has helped push the pendulum back toward the old-fashioned idea of connecting with readers seeking information relevant to their lives, whether its a Field & Stream article on the latest fly rods or a Healthline guide to Crohns disease treatments. Some of them don't even go to private schools. So here's a guy, has nothing left Ric Elias: and basically probably his last of his savings, and he gave it to other people. I hear you are Concierge Key for American Airlines, but they recently kicked you out. Ric Elias Ted Talks A native of Puerto Rico, Elias attended Boston College and Harvard Business School before starting his career as part of GEs Financial Management program. WebIn this episode, Ric Elias, founder of Red Ventures, opens up about the fateful day he knew for certain that he was going to die as a passenger on US Airways Flight 1549. As CEO, Silbermann oversaw the April 2019 IPO of the bookmarking site, which today counts more than 454 million users. In 2009, Elias survived Flight 1549, the "Miracle on the Hudson, which led to his viral TED Talk, "3 Things I Learned While My Plane Crashed." Ric Elias: Like, completely. The company does offer a maxim-happy workplace, though, with inspirational slogans printed on the walls of its atrium in cheery fonts. Additional new billionaire pledgers this year include Nubank cofounder David Vlez, Pinterest cofounder Ben Silbermann and DoorDash cofounder Tony Xu. Ive always believed that if you're in a position to help somebody, you should do it, Bill Gates said in a statement announcing the new signees. Elias, a survivor of the US Airways flight 1549 with Capt. Brian Kelly: Were you trying were people trying to use their cell phones? I didn't even know Bankrate was for sale, and one day, I get a call saying, "Hey, Brian. Ric Elias: Yeah. Ric Elias: We believe that social impact out of our platform is as important as the revenue that we produce. Courtesy Red Ventures. [14][15], In 2023 The Verge described the business model of the company as "publish[ing] content designed to rank highly in Google search for high-intent queries and monet[izing] that traffic with lucrative affiliate links. I think were a 20-year-old company that still is figuring out what were going to be, he said. On a cold afternoon in January 2009, Ric Elias was flying home to Charlotte, North Carolina, in seat 1D when he saw fear flood a flight attendant's eyes. [1] Red Ventures focuses on sites that dispense news, advice, and reviews. He still is kind of pretty dressed, pretty sharp, like he is Brian Kelly: You guys were in the same boat off the side. And the key, I think, for leadership is to make sure that the culture is swimming in kind of the right direction. That was the first thing you hear from the captain. So we own about 30 different kind of digital properties, The Points Guy being one of them. They said their involvement with The Giving Pledge may be the most important work that we will do together and if done right, should certainly be the most rewarding., Vlez is the cofounder and CEO of Sao-Paulo based digital banking giant Nubank. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Most employees dont receive equity in the company, and lunch isnt free, just subsidized. He is devoted to using his platform to "leave the woodpile higher than he found it" -- spinning out multiple nonprofits from Red Ventures over the years, all of which are aimed at creating educational opportunity and economic mobility for under-served groups. It's January 15th in New York City. So I learned enough to be dangerous. And they're like, "Holy cow. Ric Elias is CEO/Co-Founder at Red Ventures. Ric Elias: You know, a lot. So we have provided tons of value to our partners, huge brands. Brian Kelly: I know one of the things we keep hearing from our readers is doing TPG en Espanol, so maybe we'll have to start that group in the Puerto Rico office once that opens. And I think, today, we have 30 brands. Compare the cost in points or miles to cash, and see which option is best. Brian Kelly: What's the biggest thing you've learned by acquiring The Points Guy? Chesley Sullenberger, is also the CEO and co-founder of Red Ventures, TPG's parent company. So companies stopped investing in infrastructure and jobs left. Ric dives deep into how that day impacted his life, greatly changed his perspective, and improved his relationship with his famil They're as capable as anybody that we have in our platform, but they're super passionate about Puerto Rico. The company weathered the storm; by 2007 it was ranked fourth on the Inc. 500 list, and in 2015 the company was valuated at more than $1 billion. WebIn this episode, Ric Elias, founder of Red Ventures, opens up about the fateful day he knew for certain that he was going to die as a passenger on US Airways Flight 1549. We're not exactly a digital media enterprise. Ric Elias: I did. Red Ventures roots in marketing, its investment in tech aimed at selling you something and its almost-accidental move into trying to provide readers with trusted, even journalistic, advice have made for an odd amalgam. It was a terrible idea, Mr. Elias said, and they quickly ran out of money. After launching The Trade Desk in 2009, he watched its valueand his own fortuneskyrocket following its successful IPO in 2016. From there, he earned an M.B.A. at Harvard Business School. Fantastic conversation appreciate being the fly on the wall. Red Ventures headquarters in Indian Land, South Carolina, "Red Ventures adding jobs as it integrates ViacomCBS' CNET Media Group", "Why This $2 Billion Business Swears By the 'Pencil Rule', "Red Ventures CEO: We're going to keep growing", "Ric Elias and Dan Feldstein, Red Ventures", "ViacomCBS sells CNET Media for less than half what CBS paid in 2008", "Silver Lake Makes Big Bet on Red Ventures, a Digital Marketing Company", "Red Ventures breaks ground on project to double size of its headquarters", "Red Ventures buying company with important postal contract", "Personal Finance Website Bankrate to be Acquired by Marketing Firm Red Ventures", "Bankrate website to be bought by Red Ventures for $1.24bn", "ViacomCBS to Sell CNET to Red Ventures for $500 Million", "Red Ventures gobbles up another familiar brand name. Comments are welcomed and encouraged. I left the cave. I don't have my wallet. Shares have increased more than 3,000% since then, and the company sports a $47 billion market capitalization with about $1.1 billion in latest 12 month revenues. In their letter, the couple describe the pledge as their starting point and say they plan to engage in efforts to address social issues in the areas that businesses cannot reach, including through discovering and supporting 100 innovators who are dedicated to building proactive solutions for social enterprises and foundations.. And what we've learned is that if you create value for your consumers, you can build a great business, and that's, I think, the epitome of what The Points Guy is. Let's take a quick break right here. He was taken elsewhere after the crash. Its also about a 26-minute drive from the old Eastland mall site, where Tepper plans to build an MLS headquarters. You know what he said? There are a number of retired pro athletes with kids that are high school or older who live in quite nice homes in South Charlotte, Ballantyne, and Marvin. It's thousands and thousands of decisions over many years. I didn't know his name at the time. Brian Kelly: It's a paid position. document.getElementById( "ak_js_3" ).setAttribute( "value", ( new Date() ).getTime() ); This field is for validation purposes and should be left unchanged. The company found itself in the publishing business almost by accident, and is now leading a shift in that industry toward what is sometimes called intent-based media a term for specialist sites that attract people who are already looking to spend money in a particular area (travel, tech, health) and guide them to their purchases, while taking a cut. Ric Elias is the cofounder and CEO of Red Ventures, a digital media company based out of Charlotte, North Carolina. The marketing of financial products promises far higher profit margins than the online affiliate businesses that underlie websites like The New York Timess Wirecutter. Thanks to my amazing production team at TPG and for Ric's awesome assistant Alexandra Garrison, and to Margaret Kelley and Caroline Schagrin of our podcast team. Please view our advertising policy page for more information. They are seeking to cover the replacement cost of what the lawsuit describes as faulty products that fog up and have deteriorated, The Charlotte Observer reported Thursday. Websites operated by RV EDU include BestColleges.com, TheBestSchools.org, NurseJournal.org, ComputerScience.org, and Psychology.org, "as well as numerous sites with domain names that imply they're nonprofits".[21]. We were filming some video content for the Citi Prestige that was about to relaunch. Ric Elias: We're just getting started, dude. He cofounded Red Ventures in 2000, just months before the dot-com bubble burst. He cofounded Red Ventures in 2000, just months before the dot-com bubble burst. You just have this feeling. Ric Elias was given the gift of a miracle: to face near-certain death, and then to come back and live differently. She sat down at her kitchen table in Berkeley, Calif., and frantically started Googling to find out what it was. Ric, I just want to say thank you for, like I said, being a mentor and a friend to me and truly breathing a lot of fresh new life into The Points Guy. For instance, they purchased more than a million toll-free phone numbers, and each visitor to their marketing website was shown a different one. A lot of people left. He cofounded Red Ventures Our fundamental belief is culture is a competitive advantage. document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 20122023 PA IP, LLC. Ric Elias: So the first phase is they're going to move back with some of our smaller digital assets that they will run out of there, and then we're going to look at opportunities to start from there, including some stuff in tourism. After a brief stint as Koreas richest person, Kim was knocked from the post in September when it was revealed Kakao was being probed by South Koreas antitrust regulator. And if you're not careful, you can ruin it quickly. Vlezswife, Mariel Reyes, is the cofounder and CEO of Reprograma, a Brazil-based startup that helps marginalized women with computer programming and job placement. And I remember grabbing my arm and saying to myself, "I love you," and thinking to myself, "I just wish I could see my kids grow up." Red Ventures CEO Ric Elias says he's spent 20 years building a company that aims to help people make decisions about their homes, health, finances, travel and education. Life was over. She had just heard the captain say: "Brace for impact." I told them, Theres a red line, and theyre like, OK, well see, he said. What was it like to meet Sully? Drive out of Facebook right now, and on the sign, you see Sun Microsystems. and our [2] The company's corporate headquarters is located in Indian Land, South Carolina, a suburb of Charlotte, North Carolina. And the great thing about our culture is a movement takes a follower. As the company grew and the market shifted, its founders realized that the technological know-how they had developed had itself become a commodity and that they needed to develop their own brands, not just sell others. Ric Elias: Yeah. And he started transforming Red Ventures, then a middleweight marketing company, into the kind of business where he would want to spend his career. Ric Elias: They're so passionate about the island, and they're super smart. Ric Elias: You know, it is such a tiny island. Sports stars? He cofounded Red Ventures in 2000, just months before the dot-com bubble burst. Ric Elias is the co-founder and CEO of Red Ventures. You can listen to this episode above, or find it wherever you get your podcasts! And they're thinking it's terrorism. If youve heard of Mr. Elias, its probably because youre one of the eight million people who have watched the video of his TED Talk, 3 Things I learned When My Plane Crashed. On the top floor of the main building on the Red Ventures campus, he pointed to his own blurred shape in a painting of passengers walking onto the wings of the Charlotte-bound US Airways Flight 1549, the jetliner that made an emergency landing on the Hudson River in 2009, the so-called Miracle on the Hudson. Mr. Eliass seat was 1D. And we believe that there's going to be a few winners in every big industry out there that aggregates consumer interest by providing value to the consumer. Vaccinated employees have lunch in a dining area on Red Ventures 180-acre campus. A lot of people think that Puerto Rico is the center of the world, and out of that comes great pride in being Puerto Rican, which is a beautiful thing.
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