Stories and uncover them in opinion form which is a rather large mandate. [laughter] in order to narrow the funnel i started looking through corporate figures and i saw from an amazing number of in terms of how the transition from the Financial Sector to the Technology Sector since the great financial crisis and one of the numbers that stuck out was a Mckinsey Global institute figure looking at how 80 of corporate wealth was being held in just 10 of firms and those are the firms that were richest in personal data and intellectual property so basically if you are trafficking in these things you are holding the majority of the worlds corporate wealth and the biggest of those firms were the ones that i profile in the book, facebook, apple, amazon, netflix a little bit and google. They make money, all of them, pretty differently but there is some overlap with facebook and google and Digital Advertising but look at apple and they mostly shunned advertising and look to sell their devices and
This. Lets go to work. Is the profit. In 2010, lifelong friends trevor jones and Travis Lubinsky founded flex a watch company with a cause. Trevor we make watches that give back. Every purchase helps provide meals for children in need. Lemonis with their positive message, a reasonable price point, and bright, fun colors, the company stood out in a crowded field. Travis the watches are actually all gonna be interchangeable. Its also a great upsale opportunity. Lemonis and soon, sales were approaching the Million Dollar mark. Travis the components will be here in two weeks. Theres half a Million Dollars of these watches sitting around. Lemonis but when flex started introducing new styles, customers stopped buying. Travis what orders do you need to fill . Brad i mean, no ones committed yet. Travis this is ridiculous, bro. Lemonis now their revenue is in free fall, and their once healthy profits have turned into mounting losses. I have been looking for an accessories business to pair with
Why this book and why now . Guest i started this but i guess it was 2017 and i had just taken a job as columnist for the Financial Times where my mandate was to figure out the biggest business and economic stories and cover theinthe cover than am which is another mandate. I saw amazing numbers in terms of transitions in the financial sector. The figure looking at how 80 of corporate wealth was being held at 10 and those are the firms that were the richest in personal data and intellectual property. The biggest of those firms facebook, apple, amazon a little bit. Big and Digital Advertising they have mostly shunned advertising with the devices and technology. You mentioned it isnt an ad driven company but on a whole different basis besides the fact we think of them as being tech do they have one thing in common . Guest it is an interesting point you make because right now they are trying to separate each other as regulators what they do have in common is the Network Effect that i talked
So you did 1 million with the watches, and then youre like, thats too much. Brad if its not broke, dont fix it. Lemonis . This business will stop ticking for good. Travis walk away, then. Lemonis my name is Marcus Lemonis, and i risk my own money to save struggling businesses. Were not gonna wake up every morning wondering if we have a job. Were gonna wake up every morning wondering how many jobs we have to do. Its not always pretty. Everythings gonna change. Everything. But i do it to save jobs and i do it to make money. This. Lets go to work. Is the profit. In 2010, lifelong friends trevor jones and Travis Lubinsky founded flex a watch company with a cause. Trevor we make watches that give back. Every purchase helps provide meals for children in need. Lemonis with their positive message, a reasonable price point, and bright, fun colors, the company stood out in a crowded field. Travis the watches are actually all gonna be interchangeable. Its also a great upsale opportunity. Lemonis
Of western digital. Index just a little weaker on a stronger euro today, just below 97. The 10 year yield at 1. 86 . Above 60 a barrel on all of the positive trade talk. In europe, its been a positive day as well, particularly in france and germany, even though weve had some disappointments out of manufacturing readings. 1. 3 ,oxx 600 holding up and he ftse 100 up another 2. 4 . Add that to the 1 plus gain we had friday, we are seeing a nice gain for the ftse 250, which is more to masterfully focused. But alsois stronger, we have just a little but of strength for the british pound. We saw most of that coming in after the election results. We are back down to 1. 33 now. I want to point to the yuan because we are just below seven. The u. S. And china reaching that much dissipated phase one of the trade deal. Expected to release the full 86 page agreement in early january. U. S. Trade representative Robert Lighthizer says several issues remain. Phase one willr be up limited to the last de