#159 - Effortless Style Meets AI: Taelor’s Founder Anya Cheng on Men’s Fashion, Tech, and Entrepreneurship

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I learned that only after you believe in yourself, then other people will believe in you.

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Hey you all, welcome back to another awesome episode of the necessary entrepreneur.

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And the reason why I say another awesome one, they're not all, but today is going to be
one.

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Um, because today I'm thrilled to welcome Anya Chang, the founder and CEO of Taylor.

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You're going to find out it's spelled a little bit different and unique.

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It's a Silicon Valley startup on a mission to take the hassle out of men's style by mixing
AI subscription, rental, and human styling.

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Before this, she built product and marketing teams at companies like Meta, eBay, and
Target.

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so she knows how to scale tech and fashion together.

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Anya, thanks so much for joining us.

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Welcome to the show.

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Hello, hello, this is Anya from Silicon Valley.

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I now run the company Taylor AI.

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We use AI to pick clothes for busy men.

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But the best part is that people think AI cannot wash your clothes.

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Don't worry, with Taylor AI, you also don't have to do laundry.

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Before starting a company, I help you Facebook, Instagram shopping, was ahead of product
for eBay, helped them launch new business in Latin America, Africa, Asia.

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Senior Director of McDonald's helped them launch full deliberate business where UberE just
started and helped Target to build their tech office in Silicon Valley.

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I'm excited to share more.

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Awesome.

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So what problem is Taylor solving?

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Yeah, so you actually start with my own problem and unfortunately become a man's weird
business.

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And so when I was working for Meta, I want to look great as a female leader, they are
leading large engineering teams and I felt imposter syndrome.

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So I want to look great, but I start trying some subscription boxes like Stitch Fix, for
example.

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All of those boxes, they are great.

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They style you, but you have to buy.

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It's not about the money of buying.

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If you're buying, it you have to make a commitment, means you have to use your brand.

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You receive a box, how many times can I go into wear this clothes?

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Can I find somewhere a little bit cheaper?

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How do I pair with this?

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How do I do the laundry and ironing?

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And it's a lot of my spaces.

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So I start renting.

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I use company like Rent-a-Roundway and Newly, which is a $500 million revenue company
since they just started five years ago.

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But companies like those, you require me to pick.

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Like companies like Amore, women's rental companies, 20,000, 50,000 garments, pick, pick,
pick, spend two hours.

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And it was a hard moment that hit me.

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Those companies are for people who are into fashion.

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Why not there's someone for people who like me just want to get ready for the day and be
successful?

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Sales guy, single guy.

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Recruiter, pastor, professor, they want to look good, but they don't care what they wear.

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They care getting a job, getting a date, close a deal.

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Why not there's a fashion company for people who hate fashion, just want to look great and
want to be more successful.

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And that's why Taylor was more.

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So when we say AI, now Taylor can be your fairy godmother.

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So what's that look like for me?

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I have, I am so boring in how I dress.

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I wear the same stuff every day.

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It's not the same shirt, but I have a bunch of the same ones.

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Did you know Landry?

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He's not the same, sure?

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you sure?

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It's a problem.

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I'm positive.

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It's not, they all, have a bunch of the same ones.

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I do.

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Um, but, same thing with jeans and same thing with shoes, but every once in a while, what
I notice when I put on something new and show up to an event, everybody really says, wow,

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you went shopping.

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So you could help somebody like me do this more often.

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That's right.

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Last week I was in a conference and the keynote speaker after me is like, Oh my God, I an
on-air service.

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Now if you add me on LinkedIn, you won't miss it because I'm wearing the same jacket that
I took LinkedIn photo 15 years ago.

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So yes, like for people like you busy guy who are not into fashion, but want to look
presentable for your tattoo, for your speech, for your show, or just single guy for the

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day nights.

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And Taylor is their very godmother.

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We use AI to pick clothes.

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Just like those celebrities Hollywood's personal stylist.

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So you fill out a simple style quiz, we ask you a high-end way, which we don't always use
because somehow guys always think they are taller and thinner.

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So they're putting wrong information.

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But we will validate that.

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We ask you to go to your closet, pick your favorite outfits.

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Then you come out and say, I'm sure it's not size small.

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Wait, I have been wearing extra large for how long?

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So we ask you other things to validate it.

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We ask you a fit issue.

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I usually sleep is too long for me, pants too tight.

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And we show you some pictures you like, dislike, and you also upload something to tell us
that your preference or most importantly, we ask about your goal.

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You want to get a deal, get a job, you want to stand out, you want to fit in, you want to
look younger or more mature, more professional, whatever your, the best image that you

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want to present.

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Yeah, great.

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Then you know, like number one, guess how was the number one keyword when we ask people
what impression you want to leave behind?

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Number one.

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Clean.

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put me on the spot, the number one I want to leave behind.

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For a guy...

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I don't know, I wanna say something that makes everyone look good.

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I wanna say they wanna look smart, but I know that's not gonna be it.

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Number one answer is clean.

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I want to look clean.

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Yes, number one answer is actually clean.

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They to

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shower.

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You got to remind them to take a shower too.

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But that's really important because if you go on dating sites, know what, woman's number
one, he or when they want to look for guy, looks clean and put together.

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That's it.

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Most of our customers are not even wanting fashionable.

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They don't want to be on the runway.

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They just want to go on a date night or a business meeting.

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People look at them and feel they dressed the part.

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They are dressed like they already got a deal.

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So after that, we send people real close.

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Because just like a full AI, you can see amazing food generated, but if you cannot eat it,
what's the point?

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So we send people real clothes, you get five or seven items by paying less than $100 per
month.

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Then you get real clothes showed up at your door and it's already mismatched to be perfect
outfit based on your upcoming schedule.

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You remember like I think some Fortune 500 guy, he said he has a service that every
morning he got a pack pack of clothes and you just wear that clothes.

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It's like that.

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But not every day, you just got it like twice a month or something and you wear whole
weeks.

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Once you are done, you either buy a clothes or you don't.

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You don't know commitment at all.

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You return the dirty clothes, put into a prepaid envelope.

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You go home without doing any laundry and next few days a new clothes has arrived.

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No more shopping or laundry.

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Whose job is it to open the dirty clothes when they come back?

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We do have warehouse workers do that today, but soon the AI robotics will be doing that.

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whole company.

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sounds like a new company.

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heard someone say the other day, um, one of the tech entrepreneurs, the billionaires
already said that we're now coming into a generation where one person is going to start a

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company and they're going to be the only, the only employee.

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And it's going to be worth a billion dollars because you're to have a bunch of robots.

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That's what I need is going to have.

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She's going have a lot of robots.

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How often have you seen, when did you, when did the business launch?

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With Launcher less than two and a half years ago, we now have been working with 300
fashion brands in the US and also globally.

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We now partner with seven dating sites, including Coffee Meets Bagel and Aller Mesh Making
Company.

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We partnered with Executive Coaching Company, fitness center, schools.

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We sell corporate deal to holidays gift.

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So company has the best gift.

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Hi, you're employee only time.

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They all want and what's the best gift for your sales team?

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Dress up so then they close more deal and more money for the company.

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And so we partnered with women's rental company like Amore, Render Runway, and then we
offer for the corporate deal.

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And it's also for company to support sustainability.

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Today, 30 % of clothes go directly from factory to landfill, generating 10 % of carbon
emissions, 20 % of polluted water.

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So fashion is the most polluted industry in the world, not one of the most polluted
industry in the world.

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So instead of burning those brand new inventory, we use the AI with platform to find the
new outlets and also brand send us new upcoming collection that they plan to launch next

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year because they want to test out on the platform.

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So our customer on the one hand, they can help on sustainability.

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On the other hand, they get those upcoming collection that's going to be trending next
year.

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How often in those two and a half years have you seen what's the trend on what percentage
do we keep and buy versus send back?

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a lot.

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Actually, our customers love to buy.

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We have to ask them to stop buying.

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So when we started, we thought no one will buy because in a woman's space, women rental
company like newly 500 million revenue, 300,000 customers.

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Most of their customers don't buy.

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Why?

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Women want to wear different things every day.

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If I'm buying, I have to wear again.

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It's not just about the money.

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But in a man's business, our customers use our service more like try before you buy.

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Man hates commitment.

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No problem, we got it.

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Then you try for a couple of weeks, then everybody say, Ma, you look amazing.

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Wow, this is new style.

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And where people go to conference, they say, I don't know what I should wear to a
conference.

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We say, how about this?

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We send you a conversation starter.

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This shirt has these tiny dolphins that everyone will say, wow, that's very interesting.

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And then you have started a conversation.

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So it's about the purpose of the chief of goal.

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So today five item go out.

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one or two items get sold and when it's sold, it's over 50 % margin because fashion itself
is high margin.

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But for customer, it's more than 30%, 50 % discount because it's pre-owned.

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Just like your rental car in the airport, even renting one times, it's pre-owned, 50 %
off.

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So people also get really good price for very like new stuff.

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Yeah.

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How has the evolution of the company?

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So I think in my brain, I'm, I'm why I'm like, yes, this is a great service.

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I'd use this.

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I wonder what this would look like.

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It might take a few.

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Does it, does often, does it take a few times to figure out what the person likes?

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uh Yes, times is better and better.

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Luckily, number one, guys' are not as complicated as women's.

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Like women's the waist and the area, shoulders, and all other men's just have top and
bottom.

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That's all.

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Right?

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And also, most of our customers are not super like runway guys.

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They don't want like super interesting, trendy streetwear.

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They usually just want the looks polished put together.

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And if you open their closet, they only have been wearing five brands.

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Lululemon, Nike, Banana Republic, Boots Brother, and that's about it.

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So it tend to not very hard to get them right.

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And what we do is usually the first one or two months, we try to say something that we
know for sure you fit 99 % of the time.

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Every time we send these type of things go out, people will say, I love it.

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This is so great.

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And they will buy it.

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And starting from there, we will learn more about your behavior and personalities and
goals, et cetera.

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And we start push you out of comfort zone.

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Okay, how about you try this?

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You never try street wear.

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How about some Japanese new brand?

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You say you never wear green.

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How about try olive green?

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Well, this is amazing.

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And then they start realize that they can wear different type of color more than blue.

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Because when I asked our customer when they sign up, what stuff that you want?

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Blue bottom up shorts.

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That's it.

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Everybody asked for the same thing.

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So we do find that uh over time, for sure, it's better.

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And that's also why machine learning in AI, what's needed for.

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The two and a years ago when you started the business and where you're at today, has it
evolved to become something more and different or has it followed this trajectory that you

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thought it was going to be on?

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I think both.

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I think one thing heaven changes our mission.

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Like our mission is to help people to achieve their goal.

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As an immigrant woman with color, I always feel like I want someone, like my best friend
behind the theme, just like a gage guy behind the movies for those superheroes.

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Just like a fairy godmother for Cinderella.

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Just like your executive assistant or your break-up service.

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People want to be taken care of.

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People want to be always ready.

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And a lot of time we just need that one affirmation.

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Why people hire executive coaching?

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You go to executive coaching session, they say nothing.

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They just say, how do you think?

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And you figure out yourself, right?

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But just many times you need the second opinion to help you.

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And the mission has been there and continue be the same.

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Like we found our customer, for example, we have a guy a few weeks ago, he said, I just
want the outfit to win this case at court.

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That's it.

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He's getting divorced.

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He's fighting for his children.

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He want to make sure he gets the right of the children when he walk out the court.

224
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He doesn't care what he wear, red or blue.

225
00:13:56,864 --> 00:14:00,548
And we have a customer say, this is my first time going on datings.

226
00:14:00,548 --> 00:14:02,549
I haven't been dating for five years.

227
00:14:02,549 --> 00:14:07,113
as I'm an entrepreneur been really busy and I have just starting dating.

228
00:14:07,113 --> 00:14:08,244
I want something that.

229
00:14:08,244 --> 00:14:14,397
I feel like myself, but also can make people feel like wow and showcase my personality.

230
00:14:14,397 --> 00:14:15,658
And I think they haven't changed.

231
00:14:15,658 --> 00:14:18,160
And so there's on the sustainability side.

232
00:14:18,160 --> 00:14:29,706
Today we have brand monetized on sole inventory and then instead of burning them, but most
importantly, we give them data so then they know what to produce next year.

233
00:14:29,706 --> 00:14:35,609
However, what has been different is we found out that we are actually a data company.

234
00:14:35,609 --> 00:14:37,960
So when I work with fashion brands,

235
00:14:38,016 --> 00:14:43,170
At the beginning, we thought they only care of those unsold inventory become money.

236
00:14:43,230 --> 00:14:45,642
Send me in some inventory, I send faith, pay you money.

237
00:14:45,642 --> 00:14:46,353
That's it.

238
00:14:46,353 --> 00:14:47,664
They will say, I don't care.

239
00:14:47,664 --> 00:14:49,315
I just want to get rid of those inventory.

240
00:14:49,315 --> 00:14:50,156
That's it.

241
00:14:50,156 --> 00:14:54,059
But I can tell you starting from month two, their behavior change.

242
00:14:54,059 --> 00:14:58,702
They will say, oh, when are you going to send me the report for the customer feedback?

243
00:14:58,702 --> 00:15:04,096
Oh, do you have benchmark on me compared to other competitors in the US?

244
00:15:04,106 --> 00:15:05,938
Do you know what people are looking for?

245
00:15:05,938 --> 00:15:15,777
That's not, you see there's a gap in the industry because for them making more money next
year is way more important than just get rid of inventory last year.

246
00:15:15,777 --> 00:15:18,219
So we realized that our data is actually gold.

247
00:15:18,219 --> 00:15:22,183
We know the true quality of a garment better than any single brand.

248
00:15:22,183 --> 00:15:29,770
Today, if you look at people's website, the one with most marketing dollar is most
sustainable because they say so.

249
00:15:29,770 --> 00:15:30,240
But

250
00:15:30,240 --> 00:15:31,331
We are at Taylor.

251
00:15:31,331 --> 00:15:32,743
We actually truly know.

252
00:15:32,743 --> 00:15:40,492
I can tell you which brand actually is more sustainable, is more better duration, and can
last longer and more washes.

253
00:15:40,898 --> 00:15:43,189
You didn't know that was gonna be a part of the business.

254
00:15:43,448 --> 00:15:53,844
We didn't know, we kind of thought about that, but we didn't know how tangible it Because
right now, every month we have one supplier, it's a conglomerate in Asia.

255
00:15:53,844 --> 00:15:57,026
They have 200 billion revenue every year.

256
00:15:57,026 --> 00:16:03,450
And every month the chairman of the company came to our customer service meeting.

257
00:16:03,450 --> 00:16:06,412
Chairman of the company was my intern, of analysts.

258
00:16:06,412 --> 00:16:08,793
He said, tell me what people are saying about my product.

259
00:16:08,793 --> 00:16:10,764
Because entering a market...

260
00:16:11,158 --> 00:16:16,540
In the US is 42 times bigger than Taiwan, 17 times bigger than Australia.

261
00:16:16,540 --> 00:16:23,743
So for enter this giant market, the insight from the customer, you just need one inch more
in the sleeve.

262
00:16:23,743 --> 00:16:25,363
It's super valuable.

263
00:16:25,363 --> 00:16:33,134
Way cheaper than McKinsey, way cheaper than HireNelson's, and way cheaper than building a
new company in registering in the US and hire their own team.

264
00:16:33,134 --> 00:16:39,956
So you're finding yourself not just selling the service and utilizing their products and
their garments, you're actually a partner for them now.

265
00:16:40,302 --> 00:16:41,122
That's right.

266
00:16:41,122 --> 00:16:48,902
I found that we are more of a Google thing, which is we are our customer side of business
is where for us to generate insights.

267
00:16:48,902 --> 00:16:55,922
And those insights is monetizing back to the fashion brand, which really help them to
predict what's going to sell.

268
00:16:56,302 --> 00:17:07,982
And predicting what's going to sell is a giant business because today if you look at
Sheen, of them, like billion dollar company, what the problem they are solving is that

269
00:17:07,982 --> 00:17:08,462
they...

270
00:17:08,462 --> 00:17:11,082
help people to reduce inventory.

271
00:17:11,142 --> 00:17:17,642
But the way they are solving it is that I don't produce anything until I know the demand.

272
00:17:17,802 --> 00:17:21,182
But because in order to do so, then they generate a whole bunch of junk.

273
00:17:21,182 --> 00:17:28,102
Because in order to produce really quickly, those things can only be weird one time,
twice, and then it goes to landfill.

274
00:17:30,842 --> 00:17:35,222
We're solving the same problem, but using the way that's more sustainable.

275
00:17:35,244 --> 00:17:35,794
So good.

276
00:17:35,794 --> 00:17:40,819
um What do you think your customer number can be?

277
00:17:40,819 --> 00:17:42,961
So let's say you're out five years, right?

278
00:17:42,961 --> 00:17:45,903
Not all your IQ and all this stuff, but out five years.

279
00:17:45,903 --> 00:17:49,996
How many customers do you think that Taylor will have in five years?

280
00:17:49,998 --> 00:17:54,218
Yeah, to be very conservative, because my co-founder was an auditor.

281
00:17:54,218 --> 00:17:56,758
So we are super conservative when it comes to projections.

282
00:17:56,758 --> 00:17:57,878
She's like, are you sure?

283
00:17:57,878 --> 00:17:59,258
Can you prove it?

284
00:18:00,178 --> 00:18:05,238
You look at nearly 500 million revenue, 300,000 customer.

285
00:18:05,638 --> 00:18:09,038
Today they have 10 companies, a woman's rental company space.

286
00:18:09,038 --> 00:18:13,098
And together, still less than 1 % of apparel market.

287
00:18:13,098 --> 00:18:14,978
Just apparel is a giant market.

288
00:18:15,098 --> 00:18:18,018
Man's apparel is $140 billion market.

289
00:18:18,018 --> 00:18:20,032
And guess how much percent?

290
00:18:20,032 --> 00:18:22,931
in the total apparel were actually for men.

291
00:18:24,408 --> 00:18:25,740
Hmm, I wouldn't have it was that high.

292
00:18:25,740 --> 00:18:27,043
wouldn't have thought it was that

293
00:18:27,054 --> 00:18:33,114
In fact, most of companies go after the 58 % because yes, they are right.

294
00:18:33,114 --> 00:18:35,834
A woman's market is bigger, so we have to go to a bigger one.

295
00:18:35,834 --> 00:18:37,590
So 58 % is super-

296
00:18:37,590 --> 00:18:39,566
a lot though, but 42's a lot!

297
00:18:39,566 --> 00:18:40,646
Exactly.

298
00:18:40,646 --> 00:18:41,526
It's a lot.

299
00:18:41,526 --> 00:18:44,926
And where you go, you go to a man today and they buy 10 the same thing.

300
00:18:44,926 --> 00:18:47,046
They buy 10 the same thing again and again.

301
00:18:47,046 --> 00:18:47,786
Right?

302
00:18:47,806 --> 00:18:52,966
So today our production is just simple, small, 100,000 customers.

303
00:18:52,966 --> 00:18:56,006
Newly has 300,000 customers in just five years.

304
00:18:56,006 --> 00:18:59,406
And they are two public company, 10 women's company.

305
00:18:59,406 --> 00:19:04,814
And we're just projecting to be one third of one of the 10 women's rental company.

306
00:19:04,814 --> 00:19:08,794
And then you'll get us into 150 million revenue per year.

307
00:19:08,794 --> 00:19:15,674
Still super conservative compared to the 500 million revenue that is already showing in a
public company today.

308
00:19:16,238 --> 00:19:21,964
But I bet your margin, I bet your margin at 150 is way, it's way better than theirs at
300.

309
00:19:21,976 --> 00:19:23,786
Mark, you are good, you are very good.

310
00:19:23,786 --> 00:19:24,617
Because why?

311
00:19:24,617 --> 00:19:26,227
Because men love to buy.

312
00:19:26,227 --> 00:19:31,449
Our number one feedback from our customer is, can you sell me more stuff?

313
00:19:31,449 --> 00:19:31,839
Why?

314
00:19:31,839 --> 00:19:33,929
Because they are not buying the clothes.

315
00:19:33,929 --> 00:19:36,230
They are buying the service.

316
00:19:36,290 --> 00:19:42,872
It's like your assistant, he or she can only order lunch for you, he or she isn't great
enough.

317
00:19:42,872 --> 00:19:51,520
He or she will need to also do like cut a video of a podcast and also promote on social
media and book a speaking engagement for Mark and also

318
00:19:51,520 --> 00:19:55,573
order the lunch and then the bus for whatever conference, right?

319
00:19:55,573 --> 00:20:00,166
So our customer asks us, can you sell me shoes, accessories, Valentine's Day gift?

320
00:20:00,166 --> 00:20:02,157
Can you tell me where to my haircuts?

321
00:20:02,157 --> 00:20:06,950
Would you recommend me Christmas gift for my wife and husband?

322
00:20:06,950 --> 00:20:11,903
And so we see our customer using us as a one-stop shop.

323
00:20:11,903 --> 00:20:14,115
When they know what to buy, they go on Amazon.

324
00:20:14,115 --> 00:20:16,796
When they're not sure what to buy, they come to Taylor.

325
00:20:16,898 --> 00:20:20,722
Yeah, like your cack ends up being spread out over multiple platforms.

326
00:20:20,722 --> 00:20:28,809
So even if it's an, the same number that it normally is for a marketplace for a woman,
then you're selling that same guy so many more things and services.

327
00:20:28,809 --> 00:20:29,810
That's what's.

328
00:20:30,030 --> 00:20:36,724
It's just like Uber is actually low margin, but Uber brings you Uber E, which is much
higher margin, right?

329
00:20:36,724 --> 00:20:40,826
Because then you have the same person with longer lifetime value.

330
00:20:40,826 --> 00:20:46,168
And that's why people tell me, I heard of the uh render runway 15 years ago.

331
00:20:46,168 --> 00:20:50,415
They are not that profitable when they were just doing the one-time dress.

332
00:20:50,415 --> 00:20:51,782
It make a lot of sense.

333
00:20:51,782 --> 00:20:54,204
Why would you wear the same dress to a party?

334
00:20:54,204 --> 00:20:58,946
But then lifetime value is low because you only do it once a year.

335
00:20:58,946 --> 00:21:06,469
But they now change it to subscription model and they sell everyday wear because then you
read every single month.

336
00:21:06,469 --> 00:21:09,326
For me, I haven't been buying any clothes for 10 years.

337
00:21:09,326 --> 00:21:10,290
10 years.

338
00:21:10,290 --> 00:21:12,811
Earrings, bags, sunglasses.

339
00:21:12,811 --> 00:21:14,282
Just like my Netflix show.

340
00:21:14,282 --> 00:21:15,952
I don't buy DVD anymore.

341
00:21:15,952 --> 00:21:17,393
When do I need to buy DVD?

342
00:21:17,393 --> 00:21:18,083
I open it.

343
00:21:18,083 --> 00:21:19,433
I don't own any of the show.

344
00:21:19,433 --> 00:21:21,524
But when I want to watch, it's there.

345
00:21:22,124 --> 00:21:25,418
You've turned the garment business into a SaaS model.

346
00:21:26,300 --> 00:21:27,242
So good.

347
00:21:27,242 --> 00:21:27,764
So good.

348
00:21:27,764 --> 00:21:29,036
more of a demand model.

349
00:21:29,036 --> 00:21:31,661
Nowadays, everything's on demand, right?

350
00:21:31,661 --> 00:21:37,030
Ten years ago, we only rent car once a year when you go on holiday vacation.

351
00:21:37,030 --> 00:21:39,564
Now you open your Uber, you rent a car every single day.

352
00:21:39,564 --> 00:21:40,055
every day.

353
00:21:40,055 --> 00:21:44,701
um Where do you find your passion from this?

354
00:21:44,701 --> 00:21:45,982
Where do you find it?

355
00:21:47,214 --> 00:21:53,067
I think I really found it for people to help them to get ready for the day.

356
00:21:53,067 --> 00:21:59,240
Immigrant from Taiwan, when I came to the US, my English was so bad.

357
00:21:59,240 --> 00:22:05,403
remember people one day, a guy asked me, Anya, are you seeing someone?

358
00:22:05,603 --> 00:22:09,725
And I turn around and look at my back, I don't see anyone here.

359
00:22:09,725 --> 00:22:11,436
Do you see the ghost?

360
00:22:11,532 --> 00:22:12,507
He was wanting a date.

361
00:22:12,507 --> 00:22:14,031
He was wanting a date.

362
00:22:14,547 --> 00:22:17,470
The guy never asked me out, he thought it was a soft no.

363
00:22:17,470 --> 00:22:20,146
But I just didn't know English is hard.

364
00:22:20,146 --> 00:22:21,495
Are you seeing someone?

365
00:22:21,495 --> 00:22:23,267
No, I don't see anyone here.

366
00:22:23,267 --> 00:22:24,097
Right?

367
00:22:25,986 --> 00:22:30,318
the help people in their day better, prepare for their day.

368
00:22:30,318 --> 00:22:31,338
Yeah, better repair.

369
00:22:31,338 --> 00:22:38,678
So I remember when I was going on my first interview, it was 2008 when Lehman Brothers
went bankruptcy.

370
00:22:38,678 --> 00:22:41,578
And I remember everyone is laying off people.

371
00:22:41,578 --> 00:22:47,878
When I go on job interview, I always hope there was someone tell me like, yeah, I think
you are ready to go.

372
00:22:47,878 --> 00:22:49,058
Yes, you look fine.

373
00:22:49,058 --> 00:22:51,578
Yes, I think how you say this is great.

374
00:22:51,638 --> 00:22:58,418
I turn out to end up reach out to 500 people and then went on New York and LA for two
months.

375
00:22:58,464 --> 00:23:04,177
and talk to those 500 people from 2000 Northwestern University alum.

376
00:23:04,177 --> 00:23:07,489
And then end up that I got all of the information interview.

377
00:23:07,489 --> 00:23:13,203
I met with New York Times CEO, CNN VP, but nobody was hiring.

378
00:23:13,203 --> 00:23:15,989
And I oh use those information.

379
00:23:15,989 --> 00:23:26,232
I reach out to a farmers magazine company and I say, hi, I think that you can take
advantage of some idea that those big media company are doing.

380
00:23:26,232 --> 00:23:29,224
Would you like to hear what your competitors are thinking?

381
00:23:29,224 --> 00:23:30,424
And she met with me.

382
00:23:30,424 --> 00:23:32,616
I put together a business plan.

383
00:23:32,616 --> 00:23:37,988
I recommend them to build a new digital marketing department.

384
00:23:37,989 --> 00:23:41,911
And for that, they can make money from those new marketing service.

385
00:23:41,911 --> 00:23:50,386
And I also recommend her to hire someone who is out of college, have a little bit
understanding of marketing, knows digital.

386
00:23:50,386 --> 00:23:54,338
And I happen to know someone, her name is Anya Chen.

387
00:23:54,574 --> 00:23:59,794
So she asked me, okay, this sounds like interesting idea for a new department.

388
00:23:59,794 --> 00:24:01,934
Do you want to be a contractor?

389
00:24:02,314 --> 00:24:04,174
My English was really bad.

390
00:24:04,174 --> 00:24:06,614
I didn't know what contractor mean.

391
00:24:06,614 --> 00:24:07,814
I said, yes.

392
00:24:07,814 --> 00:24:09,494
I went home, I Google.

393
00:24:09,494 --> 00:24:13,154
I didn't know why she want me to be a plumber.

394
00:24:13,334 --> 00:24:14,514
Contractor, I Google contractor.

395
00:24:14,514 --> 00:24:15,894
It's all come out plumber.

396
00:24:17,054 --> 00:24:23,308
Here in my 15 years from there, I get to Target and McDonald's and eBay and Meta and...

397
00:24:23,308 --> 00:24:25,484
Now here I am with Tailor AI.

398
00:24:25,484 --> 00:24:30,960
What, how much of it is done with AI of all the operations of your business?

399
00:24:30,960 --> 00:24:33,152
How much is AI based?

400
00:24:34,430 --> 00:24:38,764
Um, put, take the productivity aside, which everybody is doing, right?

401
00:24:38,764 --> 00:24:49,553
So from the marketing side and from the, um, operation side, production of, uh, the
analytics and finance, et cetera, those were productivity tool that everybody's using on

402
00:24:49,553 --> 00:24:52,265
using AI engineering tool, QA tool.

403
00:24:52,265 --> 00:24:55,909
Um, mostly we use AI for styling.

404
00:24:55,909 --> 00:24:59,792
That's AI stylist because our customers are buying two things.

405
00:24:59,792 --> 00:25:02,498
Number one, they are buying styling service.

406
00:25:02,498 --> 00:25:04,759
they don't want to pick their own clothes.

407
00:25:04,759 --> 00:25:09,621
They don't know if you ask them to pick, everybody will pick blue Bruce Brothers shirt.

408
00:25:09,621 --> 00:25:10,361
That's it.

409
00:25:10,361 --> 00:25:10,721
Right?

410
00:25:10,721 --> 00:25:14,803
So that itself was a very expensive business.

411
00:25:14,803 --> 00:25:21,326
When in Hollywood, the celebrities, human stylists cost $350 per hour.

412
00:25:21,326 --> 00:25:26,958
They will bring you to department stores, shop around, and it's not including any price of
the clothes that you buy.

413
00:25:26,958 --> 00:25:27,668
Right?

414
00:25:27,668 --> 00:25:32,372
That's why only rich people has personal stylists or

415
00:25:32,372 --> 00:25:36,963
Once in a while, you will do a tailored things and tailor-made to you something.

416
00:25:36,963 --> 00:25:43,465
But nowadays with AI, whatever they do for like three hours and it can be done in three
seconds.

417
00:25:43,605 --> 00:25:47,446
But our AI will read like customer's preference, goal.

418
00:25:47,446 --> 00:25:52,808
We know the quality of a garment and most importantly, we know the true preference of a
customer.

419
00:25:52,808 --> 00:25:58,870
Think of this, when you go no strong to buy something or not, it's not because you like
it.

420
00:25:58,870 --> 00:26:00,780
It's because of how much is it.

421
00:26:00,910 --> 00:26:01,690
Right?

422
00:26:01,690 --> 00:26:08,890
If you don't like it, it's $10 per piece of a giant good, like $100 thing, you're going to
buy it.

423
00:26:08,890 --> 00:26:13,530
But in our model, it's more like how you pick the show on your Netflix.

424
00:26:13,950 --> 00:26:17,050
Then you like it because you already pay a monthly fee.

425
00:26:17,050 --> 00:26:19,730
So we know the true preference of customer.

426
00:26:19,870 --> 00:26:22,390
And also AI only know the past.

427
00:26:22,470 --> 00:26:23,810
doesn't know the future.

428
00:26:23,850 --> 00:26:24,310
Right?

429
00:26:24,310 --> 00:26:26,710
But we are partnering with 300 fashion brands.

430
00:26:26,710 --> 00:26:28,654
They are doing something for the future.

431
00:26:28,654 --> 00:26:33,354
So we combine those unique data through human stylized future brands.

432
00:26:33,354 --> 00:26:35,414
We also bought two companies.

433
00:26:35,474 --> 00:26:40,134
They used to be those human styling company for people in Hollywood.

434
00:26:40,134 --> 00:26:44,134
And we acquired their data, not acquiring the company, just their data.

435
00:26:44,134 --> 00:26:45,954
And then we put into our module.

436
00:26:45,954 --> 00:26:50,214
So then we built it on top of a large language model like OpenAI.

437
00:26:50,214 --> 00:26:56,588
So as they grow, we also grow, but we are always one step ahead because we have our
proprietary data.

438
00:26:56,588 --> 00:26:56,999
Hmm.

439
00:26:56,999 --> 00:26:57,982
So good.

440
00:26:57,982 --> 00:27:04,608
have to be careful though, because AI might be the next company that you're doing and
there might not be a founder anymore.

441
00:27:05,563 --> 00:27:06,784
Yeah, it's possible.

442
00:27:06,784 --> 00:27:09,606
But I also think it's more of like co-pilot.

443
00:27:09,606 --> 00:27:16,572
Right now, we still have human stylists because you know our customer, they do want to
make sure it's perfect.

444
00:27:16,572 --> 00:27:18,603
No one wants to be a prompt engineer.

445
00:27:18,603 --> 00:27:21,876
And our customer also likes to be engaged in.

446
00:27:21,876 --> 00:27:24,108
And our human stylists train our AI.

447
00:27:24,108 --> 00:27:29,723
Vice versa, our AI look at human stylists, final collections, and to customer.

448
00:27:29,723 --> 00:27:34,190
We just won the American Marketing Association Award on the marketing side.

449
00:27:34,190 --> 00:27:37,670
because we use AI human, AI human in a loop.

450
00:27:38,030 --> 00:27:40,210
We ran very high on chat GBT.

451
00:27:40,210 --> 00:27:48,710
We got 10 million impression on chat GBT because today when you go on chat GBT asking for
fashion trend, the answer is actually from Taylor.

452
00:27:48,710 --> 00:27:49,450
How?

453
00:27:49,450 --> 00:27:54,590
We start by thinking about what customer will be asking for chat GBT, which is very
different from Google.

454
00:27:54,590 --> 00:27:59,510
When you Google say 10 restaurant best in DC or Cincinnati.

455
00:27:59,512 --> 00:28:03,505
But then in Chai GPT, you will say, I'm Mark, I'm a famous guy.

456
00:28:03,505 --> 00:28:10,279
I have bring out my family to this scene and this person doesn't eat spicy, this person
likes seafood and da da.

457
00:28:10,279 --> 00:28:11,942
And then would you recommend your restaurant?

458
00:28:11,942 --> 00:28:12,331
Right?

459
00:28:12,331 --> 00:28:16,234
So we figure out what are the question people ask in Huawei.

460
00:28:16,234 --> 00:28:18,565
We have marketer write down information.

461
00:28:18,565 --> 00:28:21,637
We use AI to augment the information.

462
00:28:21,637 --> 00:28:24,339
We have human stylist to adding information to it.

463
00:28:24,339 --> 00:28:25,540
We send it to AI again.

464
00:28:25,540 --> 00:28:27,161
And then we send it to a customer.

465
00:28:27,161 --> 00:28:28,974
When customer rending clothes,

466
00:28:28,974 --> 00:28:30,714
They get styling tip.

467
00:28:30,714 --> 00:28:37,214
Wear this top with a black jogger and then with a white sneaker that you look great for a
day night.

468
00:28:37,214 --> 00:28:40,714
Then customer provide feedback and the feedback back to the system.

469
00:28:40,714 --> 00:28:45,774
So you see AI human, AI human, AI human and everything 100 % automated.

470
00:28:45,774 --> 00:28:49,514
And that's how we are able to get rent very high on ChageBT.

471
00:28:49,514 --> 00:28:53,594
So I would say human is always there, but you're just working very differently.

472
00:28:53,602 --> 00:28:55,443
Well, marketing and branding has changed.

473
00:28:55,443 --> 00:28:57,284
is changing the world.

474
00:28:57,965 --> 00:28:59,846
What, um, what are you doing?

475
00:28:59,846 --> 00:29:02,004
What's your approach to market and brand Taylor?

476
00:29:02,004 --> 00:29:06,470
mean, you're on podcast, you're having the conversation, but what's the marketing.

477
00:29:06,791 --> 00:29:08,552
What's the marketing approach?

478
00:29:08,552 --> 00:29:10,953
What do your marketing meetings look like?

479
00:29:11,194 --> 00:29:12,364
What do they sound?

480
00:29:12,494 --> 00:29:16,956
Yeah, so I'm actually teaching marketing at Northwestern University.

481
00:29:16,956 --> 00:29:26,138
ah What we have found was, number one, what we found, our customers are not just about
renting clothes.

482
00:29:26,138 --> 00:29:29,459
It's about getting a higher chance to succeed.

483
00:29:29,459 --> 00:29:30,890
That's what they are usually buying.

484
00:29:30,890 --> 00:29:33,601
Just like you, when you buy Coca-Cola, you're not just buying a soda.

485
00:29:33,601 --> 00:29:37,542
You're buying the feeling of freedom, the freedom of relax, right?

486
00:29:37,542 --> 00:29:38,350
So...

487
00:29:38,350 --> 00:29:47,810
While customers are buying a higher chance to succeed, they are buying a peace of mind,
they are buying the confidence, they are buying the style to help them be a better person,

488
00:29:47,810 --> 00:29:50,370
look at the best version of themselves.

489
00:29:50,450 --> 00:29:55,830
We also have found that we have great synergy with dating sites.

490
00:29:55,830 --> 00:29:58,090
Of course, single guy want to look great.

491
00:29:58,090 --> 00:30:02,530
It's too cheap before it's spend $100 to get a girlfriend, boyfriend, right?

492
00:30:02,530 --> 00:30:04,970
We also found great synergy with...

493
00:30:04,970 --> 00:30:12,134
our corporates and because we found companies, they want a great gift to actually help the
employee looks good.

494
00:30:12,134 --> 00:30:17,517
It's really sensitive to impasse for implement like dress code.

495
00:30:17,517 --> 00:30:26,215
Like we have a customer with low firm, they want their employee all looks great, but it's
really hard to say this mean looks great, that means doesn't looks great, right?

496
00:30:26,215 --> 00:30:28,082
It's very sensitive.

497
00:30:28,082 --> 00:30:34,978
So instead of implement dress code, they offer is a certain as a employee gift and per.

498
00:30:34,978 --> 00:30:42,363
So as a new hire, you all want to look great first few months, you feel worried every
morning, you don't have time, and then they use their service.

499
00:30:42,363 --> 00:30:51,579
So what we have found was those B2B2C partnership and B2B sales, and also podcasts, the
service need a little bit explanation.

500
00:30:51,579 --> 00:30:54,271
Like, Mar, you asked me, how does AI work?

501
00:30:54,271 --> 00:30:54,792
Right?

502
00:30:54,792 --> 00:30:57,083
We are different from just a CPG company.

503
00:30:57,083 --> 00:31:00,846
I show a can of soda, then you understand, right?

504
00:31:00,846 --> 00:31:04,332
So people need to be explained a little bit.

505
00:31:04,332 --> 00:31:09,686
So we found that influencer podcast word of mouth community event has been super helpful.

506
00:31:09,686 --> 00:31:09,966
Yeah.

507
00:31:09,966 --> 00:31:10,467
Okay.

508
00:31:10,467 --> 00:31:10,837
Yeah.

509
00:31:10,837 --> 00:31:13,108
It's a new world and it's changing so fast.

510
00:31:13,108 --> 00:31:17,168
And so now it was, you know, all the way back in Google, it was Google AdWords, right?

511
00:31:17,168 --> 00:31:18,272
20 years ago.

512
00:31:18,272 --> 00:31:19,733
And then now we have the evolution.

513
00:31:19,733 --> 00:31:23,806
was how could you end up at the top of the search on Google if it was done right?

514
00:31:23,806 --> 00:31:27,318
But now with chat, the engagement, it's now it's a race there.

515
00:31:27,318 --> 00:31:28,599
Is it going to be perplexity?

516
00:31:28,599 --> 00:31:30,010
Is it going to be chat GPT?

517
00:31:30,010 --> 00:31:31,040
What's it going to be?

518
00:31:31,040 --> 00:31:34,463
And so that's what I was wondering from your marketing brain and everything you've done.

519
00:31:34,463 --> 00:31:37,795
How is AI coming into the mix of marketing now?

520
00:31:37,795 --> 00:31:39,416
How, how is that impacting it?

521
00:31:39,416 --> 00:31:44,190
You're running your business and evaluating it for AI to serve the customer better, but
the marketing.

522
00:31:45,048 --> 00:31:52,755
Yeah, think the things that won't change is still the basic stuff.

523
00:31:52,755 --> 00:31:54,947
For example, your message house.

524
00:31:54,947 --> 00:32:01,343
oh I'm going to say, for example, I say Taylor is convenient, but then what's the true
thing to support it?

525
00:32:01,343 --> 00:32:06,539
Okay, because you don't have to laundry that's convenient, you don't have to do shopping
that's convenient.

526
00:32:06,539 --> 00:32:10,510
Whereas second, I'm going to say Taylor help you to be more successful.

527
00:32:10,510 --> 00:32:11,010
Why?

528
00:32:11,010 --> 00:32:17,730
Oh, because we ask your goals and if you want to get a job, a day job, we make sure the
outfit for the goal.

529
00:32:17,730 --> 00:32:22,810
So I think that those fundamental things will not go away.

530
00:32:22,810 --> 00:32:24,530
When also on the branding side, right?

531
00:32:24,530 --> 00:32:34,190
For example, we think Taylor on the branding side, if Taylor is a person, Taylor is
definitely your magician, similar to brand like Disney's because we are your fairy

532
00:32:34,190 --> 00:32:35,170
godmother, right?

533
00:32:35,170 --> 00:32:37,034
What can be more magician than that?

534
00:32:37,034 --> 00:32:42,756
And but we also think Taylor, if it's a person, the brand archetype could be Lula.

535
00:32:42,756 --> 00:32:46,675
Lula are like brand like B &W, right?

536
00:32:46,675 --> 00:32:53,559
It's super successful fans, like success force and more like McKinsey, like successful
leader.

537
00:32:53,559 --> 00:32:58,000
So because most of our customers are ambitious and they want to be successful.

538
00:32:58,000 --> 00:33:00,341
So I think those things fundamentally won't change.

539
00:33:00,341 --> 00:33:02,407
But of course, execution change a lot.

540
00:33:02,407 --> 00:33:05,634
Right now, AI generating image, AI generating copy.

541
00:33:05,634 --> 00:33:14,261
videos and a lot of AI changing of outfits so you don't have to do photo shoot of your
models anymore.

542
00:33:14,261 --> 00:33:18,945
And you also get AI to help to cut a video after video production.

543
00:33:18,945 --> 00:33:23,459
So then you can do small short videos on TikToks and all of those things.

544
00:33:23,459 --> 00:33:27,752
But I would say I still truly believe that AI human, AI human.

545
00:33:27,752 --> 00:33:31,976
I was in a conference of a CMO conference a few months ago.

546
00:33:31,976 --> 00:33:33,377
I was a speaker there.

547
00:33:33,377 --> 00:33:35,128
They asked me the question like,

548
00:33:35,128 --> 00:33:43,221
Do you think the generalist will be more valuable or specialist will be more valuable in
the era of AI?

549
00:33:43,221 --> 00:33:46,983
And I can tell you four panelists, we all have different answer.

550
00:33:46,983 --> 00:33:56,087
Some people think, well, generalist will be more important because AI can do specialty
stuff, but you need general person to figure out what to do.

551
00:33:56,087 --> 00:34:04,812
While some people think specialty person will be more important because AI can be the
junior intern for certain thing, but you need to be really expert.

552
00:34:04,812 --> 00:34:06,464
I think both of them could be right.

553
00:34:06,464 --> 00:34:16,631
Like you still need a mastermind and then you need AI to be your intern, while you also
are an expert to really get to the last milestone.

554
00:34:16,631 --> 00:34:19,530
So it's still underpinned with human behavior at the end of the day.

555
00:34:19,853 --> 00:34:22,273
Yeah, I think still working differently.

556
00:34:22,633 --> 00:34:25,773
20 years ago, we say, oh, radio is out dying.

557
00:34:25,773 --> 00:34:27,953
No one will listen to radio anymore.

558
00:34:28,153 --> 00:34:29,993
They listen to people listen to podcasts, right?

559
00:34:29,993 --> 00:34:30,973
It's the same thing.

560
00:34:30,973 --> 00:34:32,366
It's just the

561
00:34:32,366 --> 00:34:33,088
still listening.

562
00:34:33,088 --> 00:34:35,154
It's just what what's way we're listening.

563
00:34:35,211 --> 00:34:36,852
Yeah, the way is different, right?

564
00:34:36,852 --> 00:34:38,814
And how you run the show is different.

565
00:34:38,814 --> 00:34:42,748
Used to be this like 20 seconds and then again, another 30 seconds and three minutes.

566
00:34:42,748 --> 00:34:44,569
And now it's all different.

567
00:34:44,569 --> 00:34:47,916
just, problems still there, it never changes.

568
00:34:47,916 --> 00:34:50,674
It's just the way to solve the problem is change over.

569
00:34:50,860 --> 00:34:51,411
Yeah.

570
00:34:51,411 --> 00:35:02,755
The, um, or do you think that in another two and a half years, do you think you're going
to be still as passionate about doing this or will that, will you hand this current

571
00:35:02,755 --> 00:35:06,720
passion for this roll off and your passion will change and it'll be something else.

572
00:35:07,854 --> 00:35:12,514
I know it's hard to say, know, being a startup founder every day is so different.

573
00:35:13,014 --> 00:35:18,454
One thing I would say that is I do really love being an entrepreneur.

574
00:35:18,454 --> 00:35:21,834
I think it's really, really hard and very, very challenging.

575
00:35:21,834 --> 00:35:25,454
But people ask me what's it feel like being a startup founder.

576
00:35:25,454 --> 00:35:32,374
I say, look at your back of a career in my 15 years in Meta eBay, Target, McDonald's.

577
00:35:32,374 --> 00:35:34,314
I had up and downs, right?

578
00:35:34,874 --> 00:35:37,176
The ups and downs and

579
00:35:37,176 --> 00:35:39,127
but it might happen in five years.

580
00:35:39,127 --> 00:35:44,030
And in startup world, those level of up and down, it'll happen within five months.

581
00:35:44,030 --> 00:35:56,496
You just, if you want something that's really like in a very short period of time, high
intensity of reward, but also like a lot of frustrations, that's what startup life is for.

582
00:35:56,496 --> 00:36:03,080
I'm not sure, but I think for sure I will still be um in the entrepreneurial space.

583
00:36:03,080 --> 00:36:05,123
And I think that's something that I really love to do.

584
00:36:05,123 --> 00:36:07,272
And I didn't know that I will...

585
00:36:07,554 --> 00:36:19,994
In the last 15 years when I worked for a big tech company, always thought only rich
people, rich kids with those wealthy legendary family can be a founder.

586
00:36:20,054 --> 00:36:24,934
I thought I'm just a regular person who work hard and have good job, good education.

587
00:36:25,334 --> 00:36:32,320
But after I always look for like zero to one, I view like Facebook shopping when they
don't have shopping, I view...

588
00:36:32,320 --> 00:36:35,217
eBay is a Latin America and Africa business.

589
00:36:35,217 --> 00:36:37,422
I just always loved zero to one.

590
00:36:37,422 --> 00:36:40,972
And after becoming a founder, I realized that I was born to be a founder.

591
00:36:40,972 --> 00:36:41,384
Yeah.

592
00:36:41,384 --> 00:36:43,861
It's just, isn't it the same skillset, right?

593
00:36:43,861 --> 00:36:45,256
You're just the founder now.

594
00:36:45,256 --> 00:36:47,882
The zero to one you're doing this, you're doing the same thing.

595
00:36:48,462 --> 00:36:50,022
It's very, very similar.

596
00:36:50,022 --> 00:36:53,163
Of course, there's other things to learn, like being an entrepreneur.

597
00:36:53,163 --> 00:36:55,104
We sell big companies.

598
00:36:55,104 --> 00:37:00,265
And when I was at Meta, anyone would talk to you because you are working for Meta.

599
00:37:00,265 --> 00:37:06,587
So now we sell the company brands, and you may have to find opportunity and resources.

600
00:37:07,767 --> 00:37:13,349
What people respect you is no longer the name of your company or not even your company.

601
00:37:13,569 --> 00:37:16,856
It's really they respect you because you are a

602
00:37:16,856 --> 00:37:18,007
person who bring value.

603
00:37:18,007 --> 00:37:21,288
You are a person who being admired by someone.

604
00:37:21,288 --> 00:37:30,642
So at the beginning I found it hard because when you go to, when I go to Trump of
Commerce, for example, everybody, when I was working for Meta, people were like, wow, Meta

605
00:37:30,642 --> 00:37:32,223
and people come and talk to me, right?

606
00:37:32,223 --> 00:37:36,545
And now being a startup founder, you are CEO of Taylor.

607
00:37:36,545 --> 00:37:37,735
Okay, what's Taylor?

608
00:37:37,735 --> 00:37:38,176
Right?

609
00:37:38,176 --> 00:37:43,822
So at the beginning you feel like you, some people might, I, sometimes we were in a

610
00:37:43,822 --> 00:37:52,189
uh networking event, people will refer you to another person, not because they want to
help you, just they try to get you out of their way so they can talk to some rich people.

611
00:37:52,189 --> 00:37:52,650
Right?

612
00:37:52,650 --> 00:38:01,868
So at the beginning, I felt sad about those things, but then quickly I discovered it's a
blessing because you actually can see people's true color.

613
00:38:01,868 --> 00:38:11,156
You know, who is helping you and you know, people talk to you, respect you because you
have a quality conversation, because you bring values to them, because you are a good

614
00:38:11,156 --> 00:38:11,976
person.

615
00:38:12,174 --> 00:38:15,508
It's an opportunity for you to refine your skills too and your pitch, right?

616
00:38:15,508 --> 00:38:23,326
Because you have to become, because I think maybe as a founder, what you have to become is
you have to become the visionary salesperson because you're selling every day.

617
00:38:24,078 --> 00:38:24,508
That's right.

618
00:38:24,508 --> 00:38:26,089
You are selling to your interns.

619
00:38:26,089 --> 00:38:29,860
Hey, don't go into Google, come work at Taylor.

620
00:38:29,860 --> 00:38:34,201
You're selling to your supplier.

621
00:38:34,201 --> 00:38:40,693
Hey, besides selling to Macy's, now you can work with Taylor through these revenue sharing
models.

622
00:38:40,693 --> 00:38:43,163
And you sell to your investor for sure.

623
00:38:43,163 --> 00:38:47,225
Hey, this is something you can get 50X in five years.

624
00:38:47,225 --> 00:38:52,270
because look at what Newly does, the investor clearly already make so much money.

625
00:38:52,270 --> 00:38:54,370
So you're selling every day.

626
00:38:54,370 --> 00:38:59,290
And I think a lot of founder has like, what's the best way?

627
00:38:59,290 --> 00:39:05,510
I don't know yet, but I will say people can only believe in you if you believe in
yourself.

628
00:39:05,510 --> 00:39:09,730
So when I started being a founder, I thought like, how do I know?

629
00:39:09,730 --> 00:39:10,410
I don't know.

630
00:39:10,410 --> 00:39:12,170
I'm just a startup founder.

631
00:39:12,170 --> 00:39:15,550
But then one time I went to a startup competitions.

632
00:39:16,390 --> 00:39:18,630
Found four more judges, 42 of them.

633
00:39:18,630 --> 00:39:21,326
I practiced perfectly of my pitch.

634
00:39:21,326 --> 00:39:24,746
I went on pitch, the judge asked me one question.

635
00:39:24,946 --> 00:39:25,946
I stunned.

636
00:39:25,946 --> 00:39:27,686
I couldn't answer at all.

637
00:39:27,686 --> 00:39:30,426
Not because I didn't know the answer, I did.

638
00:39:30,426 --> 00:39:39,306
Because in my head, I was thinking, oh, this practice judge number 37 asked me this
question, which I put in appendix number two.

639
00:39:39,306 --> 00:39:40,966
The answer was what?

640
00:39:40,966 --> 00:39:44,446
I didn't believe I could answer the question.

641
00:39:44,846 --> 00:39:49,902
But after that, of course, I lost the competition and realized I totally know the answer.

642
00:39:49,902 --> 00:39:55,670
And I learned that only after you believe in yourself, then other people will believe in
you.

643
00:39:55,670 --> 00:39:56,031
Yeah.

644
00:39:56,031 --> 00:39:56,912
So good.

645
00:39:56,912 --> 00:40:02,170
The, um, are you happy that you spent all the time that you did at those other companies?

646
00:40:02,170 --> 00:40:08,990
Do you look at that as more of an education to prepare you for this, or do you wish you
would have started and been a founder sooner?

647
00:40:10,722 --> 00:40:22,342
It was a good education and I was just last week someone asked me like, if one day you
sell the company, like who do you sell to and how do you know they'll be interested?

648
00:40:22,342 --> 00:40:34,102
I was like, that's easy because it's like six months ago when I was preparing my as a
strategy for investors, I use one day, just one day, I text my old friends, our chief

649
00:40:34,102 --> 00:40:37,966
product officer, Nike chief product officer, Lulu Lemons and...

650
00:40:37,966 --> 00:40:41,806
SVP at Amazon who are my Chicago Boots Climates.

651
00:40:41,806 --> 00:40:48,906
In just one day, I talked to every single C-level of potential acquirers from my
30-year-old company list.

652
00:40:48,906 --> 00:40:52,806
One day, I them to get the answer to the job I called the next day.

653
00:40:52,886 --> 00:40:53,806
That's it.

654
00:40:53,806 --> 00:40:58,166
So I felt so much blessing of my experience and connections.

655
00:40:58,166 --> 00:41:04,524
One thing I do regret though was that I didn't truly learn or get myself involved.

656
00:41:04,524 --> 00:41:10,939
I feel like when I was working for Big Tech company, for example, I could have probably
investing in company.

657
00:41:10,939 --> 00:41:12,700
Then I would start getting involved.

658
00:41:12,700 --> 00:41:15,792
I could probably advisor more for startups.

659
00:41:15,792 --> 00:41:17,143
So I start getting involved.

660
00:41:17,143 --> 00:41:23,208
could probably be freelance more or consulting more so I can get involved.

661
00:41:23,208 --> 00:41:28,652
So because I think the ecosystem of startup is really big and very small at the same time.

662
00:41:28,652 --> 00:41:29,763
So people knows people.

663
00:41:29,763 --> 00:41:31,434
like the...

664
00:41:31,726 --> 00:41:36,646
Very quickly people, and by investing, you know a lot.

665
00:41:36,646 --> 00:41:39,886
Even for crowdfunding, $100 you can invest, right?

666
00:41:39,886 --> 00:41:42,206
Typical startup, you can invest $25,000.

667
00:41:42,206 --> 00:41:45,646
Not a big deal for people who work for Fortune or hundred companies.

668
00:41:45,666 --> 00:41:52,506
So, for that, you can actually get involved and start learning how people are thinking
company, how other founders are doing.

669
00:41:52,506 --> 00:41:55,340
And I think they will accelerate my entrepreneurship even more.

670
00:41:55,340 --> 00:41:58,788
Yeah, I think maybe Sheryl Samberg back in the day, the book wean in, right?

671
00:41:58,788 --> 00:42:00,424
She was, she was onto that.

672
00:42:01,250 --> 00:42:03,491
Yeah, yeah, I think so for sure.

673
00:42:03,830 --> 00:42:13,599
And I think coming from uh Asian culture, one thing we are not as good as Americans is
that we are a bit lack of curiosities.

674
00:42:13,780 --> 00:42:15,862
We are a lot more like goal-driven.

675
00:42:15,862 --> 00:42:21,746
Like, hey, if you want to this score, study this ABC, yes, I got number one.

676
00:42:21,746 --> 00:42:24,208
I do love a lot of my American students.

677
00:42:24,208 --> 00:42:26,434
Now I teach at Northwestern University.

678
00:42:26,434 --> 00:42:32,417
I found that best school and best students, are usually those that are most curious.

679
00:42:32,417 --> 00:42:37,399
They do things without knowing they have to do it.

680
00:42:37,399 --> 00:42:40,220
They just do it because they are curious about why.

681
00:42:40,341 --> 00:42:43,894
While when I grew up in Taiwan, it's all about what?

682
00:42:43,894 --> 00:42:46,043
You need to study this, what?

683
00:42:46,043 --> 00:42:52,424
And then while I start working for big tech company, the what become more how?

684
00:42:52,424 --> 00:42:54,125
This is a strategic framework.

685
00:42:54,125 --> 00:42:56,656
This is how you do it, how you think about it.

686
00:42:56,656 --> 00:43:05,499
But I realized to be very, very successful and I see my students who are best performing,
they care a lot more about why.

687
00:43:05,499 --> 00:43:13,201
So I encourage myself, like if I look at my young ones, be more curious for stuff that you
don't think will be valuable yet.

688
00:43:13,201 --> 00:43:15,672
Just get yourself out there and start learning.

689
00:43:15,672 --> 00:43:16,203
So good.

690
00:43:16,203 --> 00:43:17,614
Hey, another question here.

691
00:43:17,614 --> 00:43:18,605
I could talk to you forever.

692
00:43:18,605 --> 00:43:22,368
You're obviously highly intelligent and smart and you're really passionate and committed.

693
00:43:22,368 --> 00:43:27,212
When you are raising capital for a business, how have you learned to evaluate that?

694
00:43:27,212 --> 00:43:35,939
Whether you raised it now, whether it was the co-founder, how have you learned to
successfully evaluate what capital, who, and where do you go to raise that?

695
00:43:36,380 --> 00:43:37,781
Let's say you're not desperate, right?

696
00:43:37,781 --> 00:43:43,946
So you like, if you had two or three or four options and all these people want to, how do
you select the best partners and the right investors?

697
00:43:44,910 --> 00:43:51,410
So what and how and when is back to more like your big companies budgeting seasons, right?

698
00:43:51,410 --> 00:43:53,170
You have different milestones.

699
00:43:54,110 --> 00:44:05,470
And then the milestone, if you are not sure, you can easily look at like, hey, typical
series C company, have like 2 million revenues or a million and a half revenues.

700
00:44:05,470 --> 00:44:10,710
And then series A company, maybe 5 million revenue, whatever number that makes sense for
your industry.

701
00:44:10,710 --> 00:44:13,326
I'm sure you check with you will find those answers.

702
00:44:13,326 --> 00:44:21,086
And then from there you work back or like, okay, if I need to get this revenue or this
number of customers, then I will need to do ABC.

703
00:44:21,086 --> 00:44:26,286
For example, when we first time raise, we were just having idea.

704
00:44:26,286 --> 00:44:26,926
That's it.

705
00:44:26,926 --> 00:44:38,646
Because I have 15 years of beautiful resume and I start a company with my MBA classmates
who was used to work for pre-IPO company and ran their operation and finance.

706
00:44:38,646 --> 00:44:41,506
And we went to Chicago Booth MBA together.

707
00:44:41,506 --> 00:44:42,766
So all we did was we.

708
00:44:42,766 --> 00:44:48,866
posting our alumni group, what's that group, say who want to invest and then we raise a
million dollar.

709
00:44:48,986 --> 00:44:57,186
And so, but then from there, we know we have to get to like a few million dollar revenue
in order to raise C-ROM successfully, right?

710
00:44:57,186 --> 00:45:08,874
So you work backward like, okay, in order to do so, will need hired a, yeah, engineers, I
will need to, which I hire my old boss, Zohir, who was a chief data officer at eBay.

711
00:45:08,874 --> 00:45:11,255
And we know that we need to partner with fashion brands.

712
00:45:11,255 --> 00:45:16,717
So we hire people from Pumas and Victoria Seacrest and Zappos.

713
00:45:17,097 --> 00:45:29,262
And in terms of who, I think it's important to diversify the cap table because think of
like, got two master degree, Northwestern University and University of Chicago.

714
00:45:29,294 --> 00:45:34,374
A lot of people ask me like, why don't you just doing the second MBA from the same school?

715
00:45:34,374 --> 00:45:38,156
I said, no, I don't want to because then I can only tap on one alumni pool.

716
00:45:38,156 --> 00:45:38,396
Right?

717
00:45:38,396 --> 00:45:39,326
I need to.

718
00:45:39,326 --> 00:45:39,576
Right?

719
00:45:39,576 --> 00:45:44,068
The same thing, your Silicon Valley investors, they kind of know the same people.

720
00:45:44,089 --> 00:45:51,531
So for example, we just got a new investor in New York and they have big footprint in Los
Angeles and Australia.

721
00:45:51,712 --> 00:45:56,794
Amazing because my previous investor in Silicon Valley wouldn't have those resources.

722
00:45:56,794 --> 00:45:57,124
Right?

723
00:45:57,124 --> 00:46:03,316
Where we have investor, new investor, they were early investors of TSMC and Nvidia.

724
00:46:03,317 --> 00:46:06,542
We wouldn't have these semiconductor technology.

725
00:46:06,542 --> 00:46:12,145
high network and connections without this new investor.

726
00:46:12,145 --> 00:46:15,056
So I think diversify as much as you can.

727
00:46:15,056 --> 00:46:27,701
And also one thing I learned after I became a founder is that when I first started a
founder, almost like when you are going job interview, although you do want a job, but

728
00:46:27,701 --> 00:46:33,964
many times after the conversation, you kind of know, that's it, I like you.

729
00:46:34,156 --> 00:46:35,046
I think this is right.

730
00:46:35,046 --> 00:46:39,448
You cannot tell why Israel is this right size companies, right growth, is right role.

731
00:46:39,448 --> 00:46:40,489
No, you cannot tell.

732
00:46:40,489 --> 00:46:42,749
It's like getting on a date.

733
00:46:42,970 --> 00:46:44,726
Why you like this guy?

734
00:46:44,726 --> 00:46:45,378
I don't know.

735
00:46:45,378 --> 00:46:46,611
You just feel right.

736
00:46:46,611 --> 00:46:47,091
Right.

737
00:46:47,091 --> 00:46:50,213
So at the beginning, I wouldn't appreciate that.

738
00:46:50,213 --> 00:46:53,946
I feel like I need to try to impress every single person.

739
00:46:53,946 --> 00:46:56,936
If they say I want you on IPO, we'll talk about IPO plan.

740
00:46:56,936 --> 00:46:59,977
If you want the asset, I'll tell you my asset strategy.

741
00:46:59,977 --> 00:47:03,338
But then I quickly discovered those deal never goes through.

742
00:47:03,406 --> 00:47:09,266
Because you are not, you are not really trying to impress the person and you just don't
get it.

743
00:47:09,266 --> 00:47:10,966
So don't waste your time.

744
00:47:10,966 --> 00:47:17,766
Go on and see if the chemistry is right and you will realize when you meet the right
person, you know is it.

745
00:47:17,766 --> 00:47:19,526
Like they help you discover your potential.

746
00:47:19,526 --> 00:47:21,986
Oh my God, you are a data company.

747
00:47:22,166 --> 00:47:23,846
Yeah, we are a data company.

748
00:47:23,846 --> 00:47:26,156
They actually see you better than you.

749
00:47:26,156 --> 00:47:27,216
Hmm.

750
00:47:27,216 --> 00:47:30,687
can tell learning, learning and education is just, it's how your brain works.

751
00:47:30,687 --> 00:47:33,308
You're learning at every moment all the time.

752
00:47:33,448 --> 00:47:34,508
It's tremendous.

753
00:47:34,508 --> 00:47:36,239
So thank you for joining us.

754
00:47:36,239 --> 00:47:40,590
We give us the, cause Taylor is spelled T A E L O R.

755
00:47:40,590 --> 00:47:41,070
Right.

756
00:47:41,070 --> 00:47:44,511
So, um, you're going to employer all the men.

757
00:47:44,511 --> 00:47:48,572
think we have 67 or 68 % of our audience is men.

758
00:47:48,572 --> 00:47:49,372
So there you go.

759
00:47:49,372 --> 00:47:51,093
So we flipped the script.

760
00:47:51,093 --> 00:47:54,694
If 58 % of the garment business and fashion is women.

761
00:47:54,694 --> 00:47:55,918
Well today.

762
00:47:55,918 --> 00:47:57,582
67 % of the listeners are men.

763
00:47:57,582 --> 00:47:59,656
So all of the men need to go to Taylor.

764
00:47:59,656 --> 00:48:07,092
Here's the marketing pitch and go and sign up so that they can look better, but most
importantly, look clean.

765
00:48:08,590 --> 00:48:11,611
That's right, holidays are around the corner, right?

766
00:48:11,611 --> 00:48:21,295
You don't want to, you don't want, want to listen to think about the holiday shopping and
look great, presentable for your family reunions and doing your in-laws.

767
00:48:21,956 --> 00:48:38,122
site.taylor.style.styl.styl.styl.styl.styl.styl.styl.styl.styl.styl.styl.styl.styl.styl.st

768
00:48:38,122 --> 00:48:41,021
And look great this holiday season and no laundry.

769
00:48:41,375 --> 00:48:42,729
And you'll be clean.

770
00:48:43,430 --> 00:48:44,735
That's right.

771
00:48:44,735 --> 00:48:46,048
Hey, thank you for joining us.

772
00:48:46,048 --> 00:48:48,132
know you're really busy and thank you for sharing this.

773
00:48:48,132 --> 00:48:53,734
Not only the business and the brand of the market, but just the idea behind it and the
human beings that are doing it.

774
00:48:53,986 --> 00:49:03,808
Yeah, and if you are partners, investors, matchmaking companies, executive coaching, or
company who just want to help your employee look great, and holiday gift, the better gift

775
00:49:03,808 --> 00:49:06,711
than chocolate and one eye will be our gift card.

776
00:49:06,711 --> 00:49:07,763
And reach out to me.

777
00:49:07,763 --> 00:49:11,046
My email is Anya, A-N-Y-A, at taelor.ai.

778
00:49:11,046 --> 00:49:14,630
uh

779
00:49:14,954 --> 00:49:15,328
Awesome.

780
00:49:15,328 --> 00:49:16,939
Hey, thank you for joining us today.

781
00:49:16,939 --> 00:49:17,864
Thank you.