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You Already Have Subscriptions for Movies and Diapers. Why Not the Couch?

In the six years since Jay Reno started college and finished his masters’ degree, he had moved seven times. Each time, he says, the load felt more punishing. The bed frame seemed to get heavier, and things got damaged. Reno, who grew up in New Hampshire and now lives in New York City, knew there had to be a less headache-inducing way to get stuff from A to B. Or better yet, he thought: What if he didn’t even own stuff in the first place?

Reno figured he surely wasn’t the only Millennial thinking along those lines. So, in 2017, he founded Feather, a New York City-based furniture rental subscription service. Furniture rentals is not a new idea: The 800-pound gorilla in the industry is Rent-a-Center, founded in 1986 with a rent-to-own model that last year was expected to bring in around $1.8 billion in U.S. revenue. Reno says unlike Rent-a-Center, Feather is targeting higher-end customers: people who can afford to buy but just choose not to. Convincing a critical mass of affluent customers to forgo new furnishings in favor of renting used items will be no easy task. Still, Reno has a pitch he’s confident will be persuasive.

“Buying things upfront doesn’t make sense when your space is constantly changing,” says the 31-year-old founder, who graduated from Columbia University in 2012 with a master’s degree in environmental studies. “Owning things ties you to a physical place. It grounds you in a way that you don’t want to be grounded.”

The price of flexibility.

To be sure, swapping the burden of ownership for the flexibility of renting comes at a cost. Feather members pay a monthly $19 subscription fee plus the cost to rent each individual item. For instance, a living room package that includes a sofa, lounge chair, coffee table, and floor lamp will set you back $90 to $167 a month. Members can swap out items for free once a year, depending on their changing needs or tastes. Subsequent swaps will trigger a $99 delivery fee. Non-members can also rent from Feather, though they pay a $99 delivery fee each time and higher per-item fees. A Deco Weave West Elm “Eddy” sofa that runs $39 a month for members costs $134 a month for non-members.

A key part of Feather’s pitch to customers is positioning furniture rental as a more environmentally friendly alternative to buying furniture you may one day discard. Reno suggests the same consumers that, say, buy sustainably manufactured clothing at Everlane, or cleaning products in reusable packaging from Grove Collaborative, will appreciate Feather’s sustainability angle. The company says it cleans and refurbishes all items, save for mattresses, which don’t get reused between renters, to extend their lifespan. Mattresses and furniture that are no longer usable get donated.

Should customers want to buy an item after renting, Feather says it can be purchased for the retail value, minus whatever they already have paid in rental fees. At some rent-to-own companies, like Rent-a-Center, items cost more than they would if customers had purchased them directly from a retailer. Rent-a-Center doesn’t argue with this point. “Yes, there is a premium paid for the flexibility for the service, which includes free set up, delivery, and repairs,” says Michael Landry, vice president of franchise development at Rent-a-Center. Feather charges repair fees, which vary depending on the item, if damages go beyond regular wear and tear.

Millennials are increasingly opting for renting versus buying homes, says Michael Brown, a partner in the retail practice of global strategy and management consulting at A.T. Kearney. Going into the third quarter of last year, only about a third of Americans 35 and younger owned homes, according to a February 2019 report by financial services firm Legal & General. “Renting a home; leasing a car; taking an Uber; renting the runway are all manifestations of this trend,” adds Brown. He notes further that rented furnishings are expected to account for 25 percent of the total U.S. furniture market this year. Overall, U.S. furniture-industry sales in 2019 were expected to increase by 2.8 percent to $114.5 billion from the year before, says Jerry Epperson, managing director at research firm Mann, Armistead, and Epperson.

Investors too are on board with rentals. On February 18, Feather announced a $30 million series B round of funding led by Cobalt Capital, with participation from prior investors including Spark Capital, Kleiner Perkins, Bain Capital Ventures, and others. It had previously raised $16 million from investors. The company says it is using the new funds to expand to additional markets and build its 60-person team.

Feather isn’t the only startup aiming to reimagine the furniture rental industry. Los Angeles-based competitor Fernish also launched in 2017. Last year Fernish raised $30 million from early-stage investor fund Real Estate Technology Ventures, Intuit’s co-founder Scott Cook, and Amazon’s head of global e-commerce and retail operations, Jeff Wilke.

It’s early days for Feather. Its service currently is available only in New York, San Francisco, Los Angeles, and Orange County, California. Reno declined to comment on its number of members or annual revenue, beyond saying the latter is in the “eight digits.”

The true test for Feather–and by extension, Fernish–is whether it can make the product more widely appealing, beyond early-adopter Millennials. Kevin Thau, a general partner at Feather investor Spark Capital, is convinced it can. “Today’s consumers demand fast and reliable products and services that make their lives easier,” he says. “Feather delivers on just this by allowing consumers to easily rent furniture and skip the enormous hassle of purchasing and inevitably moving their furniture from one place to the next.”

Reno says even legacy retailers are starting to respond to the idea that ownership is less popular among certain customers. Feather offers Williams-Sonoma brand West Elm and Joy Bird furniture in its inventory, along with mattress firm Leesa. Crate and Barrel partnered with Fernish to offer its collections to renters in 2018. And in a related sign of the times, in November 2019, Nordstrom announced it would include exclusive products available for both purchase and rental through Rent the Runway. 

“We’re already starting to see consumers shift away from ownership as a default,” Reno adds. “And we believe this behavior is only going to grow.”

By Tatyana Bellamy-WalkerEditorial intern, Inc.com

Source: You Already Have Subscriptions for Movies and Diapers. Why Not the Couch?

Jay Reno is the CEO and founder of Feather. Feather is a furniture subscription service. They were in the Summer 2017 batch of YC. https://twitter.com/jayjreno You can check out their furniture at LiveFeather.com and if you live in LA, SF, or New York you can try out the service. https://www.livefeather.com/ The YC podcast is hosted by Craig Cannon. https://www.livefeather.com/ Y Combinator invests a small amount of money ($150k) in a large number of startups (recently 200), twice a year. Learn more about YC and apply for funding here: https://www.ycombinator.com/apply/

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How Chatbots, Apps And AI Will Transform The Travel Industry

The travel industry has constantly evolved, leading changes in technology, society and consumer tastes. Travel was the domain of the wealthy until technology and leading travel companies rapidly changed this in the latter part of the 20th century. The United Nations World Tourism Organisation estimates that there were 25 million tourist arrivals in 1950, today we see 1.4 billion.

Travellers of the 21st century are tech savvy consumers. They’re not wandering into their local high street travel agency to seek out the best deals for their next holiday. They are getting both advice and inspiration online, as well as of course booking their perfect travel experience online. Social media platforms play a central role in this, showing organic posts and paid for promotions enticing people to book that next trip to their dream destination.

Crucially though travellers continue to seek advice from travel professionals for expert advice. While there are many ways in which travel companies can meet these consumer needs, AI driven chatbots are playing an important role in an age of instant access.

AI-powered chatbots can make or break the difference between a good and bad customer journey on your website. Many chatbots are rudimentary, but the companies at the leading edge are pioneering the way forward with high levels of customer satisfaction. Their use is only expected to increase in the coming years too, with Sales Force’s research State of Service projecting that their use in the travel industry will nearly double by mid-2020 to 29%.

While chatbots first came about in the 1960s, so might not be considered cutting edge innovation, it is the machine learning innovation behind them that is constantly evolving and critical to ensuring people receive the efficient advice and level of customer service they are expecting. Recent improvements in AI are making it such that companies who invest significantly in this and leverage their data correctly, can provide meaningful customer experiences while managing costs more effectively.

We are operating in a world where people expect robust answers and they expect them fast; the advent of mobile phones paved the way for this and apps such as WhatsApp and WeChat ensured this. As such, a business’ technological capabilities are having to constantly evolve to deliver: AI driven chatbots are just one example of the way to meet these needs.

As we increasingly carry out our lives online, digital and mobile is changing the face of the high street. In Britain during the first six months of 2019 16 stores closed every day, resulting in a net decline of 1,234 shops. The travel industry is not immune to these shifts in consumer habits as highlighted by the recent collapse of Thomas Cook, which has impacted the livelihoods of thousands.

This recent failure is reflective of a wider trend which has seen the number of travel agents in the U.S. decrease by 45,200 between 2000 and 2018. Digital transformation is constant, and businesses need to be awake to the changing impact on their employees. It is predicted that by 2023 companies will have to retrain or replace a quarter of their staff in response to technological change.

Training programms and a focus on upskilling are essential cornerstones of a successful 21st century business. To stay at the forefront of technological advances and to support day to day operations e-commerce businesses require hundreds of employees and we need to make sure they are equipped with the knowledge to succeed.

Technology puts the world at your fingertips and for travel–the largest e-commerce sector in the world–that saying is quite literal. People tap into their phones, launch apps and manage their lives. In Q2 2019, mobile broke records with consumers downloading more apps and spending more money in app stores than ever before.

Apps streamline customers’ journeys, increase customer loyalty and create regular touchpoints with the customer. 80% of us use our mobile phones to search for information online, 27% then go onto download an app related to our searches–a business without an accessible and appealing app will be cast aside for their competition. According to the latest research on the travel industry by Euromonitor International, online travel sales will account for the largest share of travel bookings by 2024 and a quarter of all bookings will be made via mobile.

Travelling habits have changed significantly over the last 80 years and they will change again over the next 80. It is anticipating how it will change and how consumers will travel in the future that is essential for a business to not just survive but establish itself as a sector leader.

Dana Dunne is the Chief Executive Officer of eDreams ODIGEO, one of Europe’s largest online travel companies serving more than 18.5 million customers every year. eDreams ODIGEO puts technology to work on behalf of consumers so travelers can get the best, most convenient deals in travel services including flights, hotels, car rental, and insurance. Dana has an MBA from Wharton Business School and a BA in economics from Wesleyan University. A keen cyclist, Dana splits his time between London and Barcelona and has dual citizenship (American and British).

Source: How Chatbots, Apps And AI Will Transform The Travel Industry

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HiJiffy’s webinar about “How Chatbots are changing the Travel Industry” discusses really relevant themes, such as messaging apps usage or what, in our opinion, are the top chatbots in the travel industry.

Omega Unveils Two Watches For The Tokyo 2020 Olympic Games

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Omega has concluded its 50-year anniversary celebration of the historic Apollo 11 moon mission (at least for now) and has now moved on with an event that is just as important with the Swiss watch brand’s heritage.

Wednesday, July 24, is exactly one year till the Tokyo 2020 Olympic Games and to mark this occasion Omega, the Official Timekeeper of the Olympic Games, has unveiled two limited edition watches: the Seamaster Aqua Terra Tokyo 2020 and the Seamaster Planet Ocean Tokyo 2020.

Seamaster Aqua Terra Tokyo 2020 Limited Edition

For this sporty Tokyo 2020 model, Omega has introduced the collection’s first ceramic dial crafted with a polished blue finish laser engraved with the Tokyo 2020 Olympic Games emblem. The 41mm stainless steel timepiece includes a sapphire crystal caseback with a transferred Tokyo 2020 Olympic Games emblem.

Limited to just 2,020 pieces, the watch comes with a structured blue rubber strap and includes an additional stainless steel bracelet in its special presentation box. The watch is powered by the Omega Master Chronometer Calibre 8900, which the watch brand says delivers the Swiss industry’s highest standard of precision and magnetic-resistance.

 

Omega designed this watch as a “patriotic Seamaster with a true Japanese touch.” The 39.5mm stainless steel case has a white ceramic bezel ring with its diving scale in Omega’s trademarked Liquidmetal. In tribute to the year of Tokyo 2020, the number 20 on the bezel is filled with red liquid ceramic.

The polished white ceramic dial continues the Tokyo theme with a “lollipop” central seconds hand—with the round end is in red varnish, which represents the flag of Japan.

Also limited to just 2,020 models, this timepiece is driven by the Omega Master Chronometer Calibre 8800 and features a sapphire crystal caseback with a transferred Tokyo 2020 Olympic Games emblem. It has a white leather strap and includes a stainless steel bracelet and additional NATO strap in its presentation box.

Omega has had a long association with the Olympics Games as the Official Timekeeper 28 times since 1932. This association will continue for the 2020 Tokyo Olympics.

Over the years Omega’s timekeeping technology has significantly improved. For example, in its first stint as official timekeeper for the Los Angeles Games in 1932, Omega arrived with 30 split-second chronograph pocket watches. For the 2020 Games, the watch brand will bring a team of timekeepers hauling up to 450 tons of equipment. During this time Omega introduced several milestones in timekeeping. They include the following:

* A photoelectric cell was used for the first time at the 1948 Olympic Games in St. Moritz, Switzerland. Also known as an electric eye, it works by having the two photo cells aligned with the finish line. As a runner crosses the line, the beam is blocked, and the electric eye sends a signal to the timing console to record the runner’s time.

* The Omegascope introduced the concept of real time in televised sport by superimposing numbers on the bottom of a screen. It was first used at the 1964 Winter Olympics in Innsbruck, Austria.

* The touchpad for swimmers was introduced at the 1968 Summer Olympics in Mexico City. This allowed a swimmer’s hands to stop the clock.

* Omega Scan-O-Vision was introduced at the 1992 Olympics in Albertville, France. It was used for speed skating and could measure time to the nearest thousandth of a second as the skaters crossed the finish line.

* An electronic start system, consisting of a red flash gun and sound generation box, replaced the traditional starting gun during the 2010 Winter Olympics in Vancouver, Canada.

* In 2012 Omega introduced the Quantum Timer, which can measure time up to one millionth of a second. There is a maximum variation of only one second for every ten million seconds.

In addition, Omega serves as the Official Timekeeper for the Paralympic Games and the Youth Olympic Games.

Follow me on Twitter or LinkedIn. Check out my website.

In a previous life I was an award-winning daily newspaper reporter who moved to business and trade magazines and who now specializes in high jewelry and watches for publications around the world. My first magazine job was with a design and architecture trade publication where I received a first-hand education and appreciation of how good, innovative design can make the world a better place. It’s something I take with me while traveling the world and writing about the finer things in life. In addition to this blog, you can find me at my “Jewelry News Network” blog and facebook page, on Instagram @jewelrynewsnetwork and on Twitter @jewelrynewsnet.

Source: https://www.forbes.com/sites/anthonydemarco/2019/07/25/omega-unveils-two-watches-for-the-tokyo-2020-olympic-games/#17e70dcef09d

3 Things Coca-Cola, AWS And Smartsheet Taught Me About Innovation

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In today’s market, companies that are not constantly evolving or changing go extinct very quickly. Back in 1950, the average age of a company on the S&P 500 was 60 years old; today, it’s 20. With so many companies failing, disappearing, or getting consolidated, transformation is critical for businesses seeking to survive, let alone compete and win.

To be successful in product innovation, start with the customer and work backwards to determine the products you need to design and build.Smartsheet

Some companies are really good at transformation and continuous innovation; disruption is built into their DNA. Others struggle with their legacies of success, becoming overly focused on self preservation, which leads to slow decision making and aversion to risk.

But it’s not impossible for large companies to reinvent their business; indeed, it’s essential for their survival. During the course of my career, I’ve been fortunate to work at three amazing companies — all very different — each of which has been integral in transforming their industry.

Through these experiences, I learned important lessons about innovation and business transformation that can be applied to almost any company. Here are three critical keys to success:

1. Start with the customer

To be successful in product innovation, start with the customer and work backwards to determine the products you need to design and build. Only by truly understanding your customers can you deliver products that they will love.

When I worked on Coca-Cola Freestyle, we knew we had to start with the consumer and figure out what they wanted, so we did a ton of research. We started with focus groups in five different cities, five groups per city, all different age groups and demographics. The insights we gathered in these sessions informed our quantitative research, in which we ultimately talked to more than 7,000 consumers.

By truly understanding consumer preferences, we were able to build the Coca-Cola Freestyle in a way that appealed to consumers, with striking results: Installing a Freestyle machine led to increased beverage sales for restaurants by 17- 20 percent, and increased Coca-Cola sales volume by 30-40 percent in those locations. What’s more, about 25 percent of consumers who knew about Freestyle told us that they chose which restaurant they went to based on whether it had a Freestyle machine!

To innovate at Smartsheet, we set out to understand what problems our customers are trying to solve and then build solutions that help them do that. Smartsheet is a cloud-based work-execution platform that makes it easy for anyone to get work done without having to wire together a bunch of other tools. Today, most of the companies chasing this market overestimate the technical bar that most business users can clear, which results in overly complex products that are not easy for most business users to adopt. At Smartsheet, we really focus on how we can meet the needs of the average business user.

Every time we build a new product, we start by writing a document called a “PR/FAQ” (Press Release/Frequently Asked Questions”), which outlines what we’re going to build — and why — before we actually go to code (an exercise I brought with me from Amazon.) This means we create the story that we want to tell customers on the day the product launches — before we actually build anything. Then, we iterate on the press release until we like what it says about the product and how it solves a problem for the customer. We validate it with existing customers. Only when we’re satisfied that what we have is the right product definition do we begin work on building the proposed product.

2. Small independent teams move faster

Once you determine what to build based on research and customer feedback, assign a small team to the project and empower them to make decisions and innovate. Keeping the team small and focused helps prevent scope creep and eliminates the management overhead required to coordinate work across a large group. It is important to establish mechanisms for the team to escalate when they need help, but try to limit the amount of energy the team has to expend reporting up. This will speed innovation.

To develop Coca-Cola Freestyle, I built a small dedicated team that was completely isolated from the rest of the organization. We reported to a board of advisors on a quarterly basis but were empowered to make decisions without having to ask for permission.This was pretty game-changing, as it allowed us to move fast, experiment and learn, and be singularly focused on capturing the opportunity we saw in the market.

Coke’s idea of isolating a small, scrappy team to work on product innovation is the Amazon model as well. In fact, Amazon has a name for it: a “two-pizza team.” Almost every new service that starts at Amazon starts with a two-pizza team — a team small enough to feed with two pizzas.

Small, scrappy teams can help you make better decisions by forcing you to make trade-offs based on the constraints faced by the team. They’re better able to innovate quickly and course correct as needed to keep the project on track.

3. Take a long view

Another key to supporting innovation is to take a long view of the business. Rather than expecting an immediate return on an innovative new idea, focus on how you’ll develop the product to best serve your target market.

At Amazon, they take a very long view of the business. When we launched a service at Amazon, no one was pushing us with the question: How fast can you get to profitability? Instead, the discussion was framed around:

●    What’s the market you’re going after?

●    How much of the market do you think you can serve with the MVP (Minimum Viable Product — the first, solid foray to market)?

●    Where do you think you’d go after that?

Rather than worry about getting a very quick return on investment, the idea is that if we build meaningful, compelling products, we’ll figure out how to make money over the long term.

At Smartsheet, we not only take a long view of our business, but also encourage our customers to do the same. For example, when customers come to us for a solution, we try to understand the problem they are trying to solve or the pain point they want our help to address. This deep understanding enables us to build solutions that are both opinionated and flexible. We bring best practices to the table, along with a real point of view on ways that our customers can change how they work, and how we can help their businesses innovate faster as they navigate a constantly changing market — now, and into the future.

Gene Farrell Gene Farrell Brand Contributor

Source: 3 Things Coca-Cola, AWS And Smartsheet Taught Me About Innovation

Apple Today, Powell Tomorrow: Busy Earnings And Fed Week Continues

It’s a fully packed day with earnings from Apple, the start of a Fed meeting, several other major companies reporting, and more concerns about U.S. relations with China. U.S. stocks had a mixed tone in pre-market trading following a similar pattern in Europe and Asia. A development just after the closing bell yesterday could be a factor, as U.S. prosecutors filed criminal charges against Chinese smartphone maker Huawei Technologies. One thing markets tend to dislike is uncertainty, and this might create even more. Asian markets took some heat Tuesday, and the Chinese government told Reuters the charges were unfair……….

Source: Apple Today, Powell Tomorrow: Busy Earnings And Fed Week Continues

Forbes Mutual Fund Ratings: The Honor Roll

These funds have done well over the long pull while beating peers in bear markets. We evaluated 1,261 domestic stock funds. Twenty-six were good enough to make our Honor Roll. The select list includes some familiar names, like Vanguard Primecap and Fidelity Contrafund, and some less familiar ones like Parnassus Core Equity. Honor Roll members cleared three hurdles. They had to beat the stock market over three market cycles going back to October 2002. They had to hold up comparatively well in down markets, earning an A+ or A. They had to keep their expenses to a reasonable level: below the 1.5% median for this collection of mutual funds……

Source: Forbes Mutual Fund Ratings: The Honor Roll

5 Savvy Ways To Invest $10,000 In 2019

What would you do if you suddenly had $10,000 in cash at your disposal? Would you splurge for a trip to some far-flung corner of the world? Trade up for a nicer vehicle? Buy new furniture and a hot tub for your backyard deck? Those ideas might be the first that come to mind, but they may not be ones you will feel proud of ten or twenty years from now. Unless you have high interest debt you could pay off, your best bet with any “found money” is always going to be investing it for the long haul…..

Source: 5 Savvy Ways To Invest $10,000 In 2019

How To Extract Business Value From Data Science: It’s All About The Teamwork – Jack Soat

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To make an impact at the enterprise level, the data science group can’t work in isolation, said Ian Swanson, Oracle vice president of machine learning and artificial intelligence product development, during a presentation at the recent Oracle OpenWorld conference. “In order to do data science right, it has to be a team sport,” said Swanson, former CEO of DataScience.com, which Oracle acquired earlier this year.

Team Members

One of the data science group’s most valuable teammates is the IT organization, for multiple reasons, he said. The DS group relies on IT to manage and secure the data it uses; support the needed analytics tools; and deliver ready access to scalable bandwidth, compute, and storage capacity to build and train production-oriented analytic models.

Another important ally is the application development team. Developers must incorporate the models DS builds into their “ecosystem” as regular features among the many they use to build production applications, Swanson said.

That points to a significant attribute of production-oriented models: reusability. An ecommerce recommendation engine, for instance, might be reused for forecasting an item’s revenue stream, he said. A key performance indicator for one technology company Swanson worked with on a DS project was “how often that model was used by other parts of the business,” he said.

Line-of-business managers are a valuable constituency as well, because they’re tasked with performing the actions—and getting the results—from applications that use analytic models. An underestimated advantage line-of-business managers bring to the analytics model-building process, Swanson said, is their domain expertise—their experiences working with customers.

As for the top brass, they don’t need “to be involved in every step of the model, but they need to understand how it will be used, the opportunities it offers, the things it can achieve,” Swanson said. “If you’re not involving the top, if they’re not part of the team, data science is not affecting the heart of the business.”

Awash in Tools

Because data science is the new darling of the technology marketplace, the number and variety of analytics tools are staggering. Swanson said he worked with a company whose DS team had accumulated 682 different tools. “How is IT managing 682 different tools?” he wondered.

Still, building predictive analytics models is complicated, requiring a “full stack” of tools, libraries, and languages—preferably open source, which encourages standards and self-service, Swanson said. As DS matures, its practitioners will have to comply with enterprise programming standards, in particular version control. “If you’re writing production code, you should be using some sort of system that encourages working together to follow best engineering practices, such as checking in code and making sure its reproducible,” he said.

But enterprise data science goes beyond programming. “It requires a platform that removes barriers to production, improves collaboration, manages the tool sprawl, provides self-service access to data, and helps with model planning and retention,” Swanson said.

Reliable Outputs

Calling data scientists “the architects and engineers of digital transformation,” Swanson noted that there are DS use cases “in every industry and function,” providing the means to generate “new business channels and new business models.” But achieving those goals requires the will—and a strategy—for extending the work data scientists can do as widely across the enterprise as resources will allow.

“It’s about creating a process that delivers reliable outputs to drive business outcomes,” Swanson said. “You need to put it into action—that’s real DS.”

 

 

 

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Don’t Believe Beijing: China Really Does Rival The U.S. – Kenneth Rapoza

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Liu Qiangdong, better known as Richard Liu here, is already a billionaire. At the 7-Fresh grocery store in Beijing, not far from Liu’s JD.com, there’s this fruit stand that looks awfully similar to anything an American would find at a Trader Joe’s or Wholefoods. It’s organic. It’s small farm friendly. But here at 7-Fresh you can scan a barcode and find out where the apples came from, thanks to a blockchain system they’re running. Meanwhile, over my head is a small assembly line of green shopping bags filled with online food orders. It’s the Jetsons. I don’t think they have this at Wholefoods………….

 

 

 

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Patagonia’s Billionaire Founder To Give Away The Millions His Company Saved From Trump’s Tax Cuts To Save The Planet – Angel Au-Yeung

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Yvon Chouinard, billionaire founder of outdoor apparel firm Patagonia, has traditionally shied away from politics. But things have changed for the rock-climbing, fly-fishing outdoorsman since Donald Trump moved into the Oval Office. On Wednesday, Patagonia announced it has an additional $10 million in profits on its books for 2018 as a result of Trump’s “irresponsible tax cut” last year, which lowered the corporate tax rate from 35% to 21%. Instead of investing the additional dollars back into its business, Patagonia said it would give $10 million to grassroot groups fighting climate change, including organizations that work in regenerative organic agriculture to help reverse global warming.

 

 

 

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