Good morning, im scott mcgrew. So there is this thing. It is called the juiceerro and it makes juice and when it was unveiled, everybody rolled their eyes because it was 700. It was a wifi enabled juice maker and you cant put fruits and vegetables in and you use ivy premade backs that cost 7 a glass. Thats ridiculous. And wont give you juice if the wifi is down. I bring this up because i want you to know my state of mind when i heard about a wifi enabled tape top oven called june. It even has a camera inside so you could watch your steak cook over the internet, and i thought, oh, come on, i have an oven. What is this like 700 . No, it is 1,500. But june has two things going for it. It as a very persistent Marking Department and the oven makes good steak. And they made me a steak and brownies, ill willing to give the founder Matt Van Horn the benefit of the doubt. And he is from lyft and johns by john swartz of usa today and jp mangalindan of yahoo finance. Even though it was fabulous steak, why oven. And you invent something and you say ovens . My cofounder and i loved cooking, we spent a lot of time in technology. And this was the first camera on the phoiphone and i spent time what is now lyft and for us it was about how to build the best oven from scratch that will competet ber than the 5,000 built in unit wall oven and take in everything we love in the technology. And ill get to how good it is. But i presume you knew nothing about ovens. We knew nothing about ovens. How do you teach yourself about ovens. That was a competitive advantage and so for us we didnt say things have to be done this way, we were able to build the best convection heating and we have the most even cooking, more than the 5,000 builtin ovens and because we didnt have that legacy knowledge, we were able to start with a fresh perspective. A couple of years ago i went up to microsoft and they have that automated home where you go through a house and one of the things they had for the future was this kind of futuristic oven which was built into the table top so you could see and you could run your menu next to it on a screen. It was part but with the internet of things and the way automation is going in the kitchen with, i dont know, all sorts of different appliances, including the refrigerator, it seems like it makes sense. But you are at the early stage, probably. You are thinking eventually the price will probably go down and more people will adopt it. I could only speak to our customers and what they are saying today. On amazon, weve been selling for a month. And we have 61 revuz and 48 are five stars. And people are cooking i ask how many times you use your big oven a day, now. For me. It was once a week. And now were seeing people cook more and eating out less and spending a lot more time with family and friends and cooking much healthier. And they have the laptop or tablet on the counter top. It is not required. We have a touchscreen in front of the june. Let me describe this oven for you. When you made this, you put the take in there, it weighs the steak. It knows how much you turn the dial to steak. And it heats very hot to get the crust. And then backs off, et cetera. It knows how to make a steak. Which makes it fairly phenomenal. Now im convinced but im not sure if i saw it in a category or on amazon, i would say, sure, a 1,500 giant toaster. So how do you sell to somebody who has not had a steak. Absolutely. I recommend they go to amazon reviews and read from actual customers who said here is how often i would cook before i had the oven. Yes, it does toast, but people are doing elaborate roasts, whole legs of lamb, they are doing whole chickens, my mom did a 12 pound turkey for thanksgiving. You could do toast but we started with the counter top form factor as our first product and people are loving it. Because they like the results of what they are cooking and maybe there was a they were unsure of what the end result would be . I would say the product and the intelligence of it, and so what the magic of june is the intelligence and the experience that scott saw was we put a steak in the oven and it did the rest. It didnt even preheat the oven. We have cash on fiber heating elements an they are full power in three seconds. We are not a microwave. We do not like microwave. But we could be competitive in terms of speed and so if you put yesterdays pizza in the june oven, will t will take bester than in the microwave or than in the 20 minutes you wait for your big oven to heat up. I could easily look into my old school oven and see how is it cooking so how does the camera help things along. Number one, you cant look into your oven because it is too dark. We have bright l. E. D. S and you could see your food for the first time and we have a camera for object recognition and object counting. So for example, if you have one piece piece of bacon versus eight pieces, it is completely cooking different. And the oven know. On the Artificial Intelligence side we could recognize that and do object counting and adjust the programs as a result of that. And then also Live Streaming video is something that we do do, which is a fun future. But what is cool is kind of creating this time lapse video where you could kind of show your rising and chicken coming together and share that with your friends and family and people take a lot of pride in the food they create and if im proud of something that i made in the june oven and people are proud of what theyve done and post online and post youtube videos which sells your oven, which is going back to that question, you see it and you are not necessarily convinced, it does take some convincing that this is something im going to invest in and these features are worth it to me. But your fans are selling it for you. That is the dream. We feel very lucky. The best feature is that it gets better over time. So were seeing people are cooking two to three times a day. But were constantly learning from our entire community and from people that share their data with us, well add new food types and make the oven better. And an example is which foods havent been added yet. What is the bread and butter so to speak. We have the data. We know what the most popular cook things are. So we know that people are doing something for breakfast in the morning so two to three times a day. So something for breakfast in the morning, be it bacon or toast and then for dinner, they are doing protein, so chicken salmon and steak and then a vegetable or a desert. And we are able to learn from behavior and get better and smarter over time and the best feature is the first appliance that gets better over time instead of worse. J. P. , excuse into that question. Do you have plans to expand into brick and mortar retrail because i would love to see it in person rather than just social media and amazon. We did for the holidays, we did a popup shop in cord ahmad era and we are able to do cooking sessions. Well talk later. [ laughter ] thank you. Up next, companies with two objectives, to make money and be a nonprofit. C it can be done. Welcome back. This is something caused phase change material. It is a waxlike substance created by the Space Program for astronauts to make cold things warm and it could make warm things cold. This is cuttingedge stuff, lifechanging stuff and my first thought is use it for snacks. Jane chen did not think of snacks. While still a student at stanford, she invented a way to use phase change material to keep newborn children warm. A low cost incubator she called embrace. This started as a class project but now more than 200,000 babies have been protected by janes invention. J jane and his cofounders created a Company Called embrace and a company that makes money, lotus, to patients that could afold a 75 baby accessory. And joining us with both right here. So the incubator is the blue thing and that is in indian and for it 200 thousand children. So the background of the problem is 15 million preterm babies are born everywhere around the world and the biggest problems they face is staying warm or regulating their own body temperature and that is the primary function of an in cu cubeator and you wont find it where most of the babies are dying and we developed the embrace warmer, it looks like a sleeping bag and the Core Technology as you said is a changing material and this is a wax like production with human melting temperature with melting water or a short burst of ele electricity and you could reheat this thousands of times. Was it the material being invented that took this why you, why now . This is a problem for so long and all of the sudden a graduate student, who was in business school, right yes. And along with your cofounders, you solved it. Yeah. So this came out of a class project that the Design School at stanford that brings together students from all of the different graduate programs, with a specific goal of creating technology for People Living on less than a dollar aday. And the specific challenge posed to my team and i was to develop a incubator that cost less than the normal incubator and i remember one of the first women we met in a village in south india, she had given birth to a baby who was premature and took her baby to a village doctor who said she needed to go to a City Hospital so her baby do be placed in an incubator. The hospital was over four hours away and her baby died. And weigh realized we needed we realized we need a low cost version of something today but without the need for constant electricity that could be used by a mother or midwife and sit in a village clinic and that is really how we came up with this idea. And this is as efficient as your counter part. Incubator have a few other bells an whistles but 90 is the temperature regulation. This z works as well as a standard of care in other facilities. After stanford we moved to india which is home of 40 of all of the premature babies. And i went to india, and what struck me was failure of infrastructure, like electricity. It is unmanageable, if you think how many lives you could save with this. Yeah, yeah. Have you seen this used in other hospitals around the world . Oh, my gosh, yes. Ill tell you one of my favorite stories. So about four years ago we started working with an orphanage in beijing. A day later they had discovered a two pound baby abandoned a street. They brought him in, tucked him in this product for 30 days and i went to visit seven months later and i met nathan who was helping and survived and then we got an email from chicago saying they had adopted the boy and traveling to beijing this sum tore bring him home. You realize you may never accomplish anything as good as this. It is entirely possible the rest of your life is not as good as that is amazing last week, i was giving a talk at harvard and afterwards a woman came up to me from india saying her premature baby was saved by this product. It was amazing. I would like to talk about saving lives but we have to talk about the business. Mozilla does this and tom shoes, they have two different structures. There is a company that makes money and a charity that doesnt make money. In the same building, in the same office. And you are doing that because you are selling these expensive sleeping backs to the more wealthy folks. Right. Why do that . Is it just does one fund the other yes. So the way we distribute embrace is through a network of nonprofit partners around the world and that is how we got this to 22 countries and eventually we want to get this into the hands of every baby that needs it. And we said lets look at Companies Like tom shoes with 250 in revenues and we thought why not put this in the Consumer Product and we save a life in a developing country. So this is a forprofit portion. This is the nonprofit. This is the for profit. This is the nonprofit. And over the years, as we were distributing the warmers, doctors would tell us how well babies sleep in this, which makes sense. It mimics the womb. The baby is not experiencing temperature fluctuation. Do she sleep better in this. Yes. So with little lowell us, we make swaddles for baby up to two. The inside of the fabric is similar to our incubator. It was used in nasa space suits and it contains mike rons of wax and if the temperature drops it gives the heat become to the baby and if you rub this, you could feel it warming up and it keeps babies at an ideal temperature and in a study last year we found that eight out of ten babies slept almost an hour longer in this product versus existing products in the market. So what have you learned from having a profit side, funding the nonprofit side . Are there other charities that should look at your model and say, this is going to sound crazy, we ought to sell something for profit . Absolutely. Because you could see a charity board, saying what are you crazy . No, were a charity. But this could be done. I think the problem with nonprofit model is they are hard to scale. If you look at the percentage of nonprofits with budgets over a Million Dollars in the u. S. It is a tiny fraction and we want this to get to every baby who needs it and if you have a technology that could be lever anled in the technology or european market, it is a wonderful way to make money and do well at the same time. Congratulations. Thank you. Thanks again. Thank you. Welcome back to press here. Everybody knows that coding, Computer Programming is a hot career, just look around San Francisco and see all of the offices being build for coders. Here is the sales force tower. They put the last beam in place on thursday. This is happening all over the city. Which means coding isnt the only hot sector, construction is too. After all, someone has to build the office for the coder. Keith is an expert on the intersection between hightech and construction. His Company Field wire brings hightech tools to the construction site. In that video, we saw some guys using an ipad and they were running your software, right. Yep. What are they look obviously blueprints, but what are they looking at that is different than in the past. So construction is a [ inaudible ] business and it could access all of the files that they have, but what is interesting is they could jump from a floor plan to a documentation to all of the context or the tasks that a project manager asked them to carry out so it is the navigation between that information and contextualizing it so you never forget anything and if you set it once, it will happen. And weve had plenty of App Developers saying lets make an app for x. You know construction. This is not where you picked something randomly and you said lets so my parents were doing time in france and i spent my summer onsite and that is where i got the liking for the industry. And then i went to stanford to study in the Civil Engineering department and in stanford the premise is were trying to plan the perfect project and it is all about building the building, virtually before you build it, for real. And that part is very mature. The part that was completely forgotten that was back in 06, how do you hold the contractors on the site do it well and preiphone it wasnt a good device to do that and i put that idea a side for a few years. I wasnt thinking that i would go back to it and you fast forward to 2010 and 2012 and you see carpenters and electricians break out for lunch and they pull the iphone out of their pocket and they text their wife. And people will not doubt technology because they are tech savvy in this industry. They will adopt it because everybody will get a smartphone. And that is what is happening in construction. Whether it is the computer for the office, mobile is doing it for the construction side. So it is a very profound change. So i appreciate what you are doing. I met with a Company Recently that is kind of doing what you are doing called plan grid. So what makes what you are doing is different from what the competition is doing . Absolutely. So if you think about construction, it was a very paper based industry. And a paper and a documen you d and and hand out. And most construction platforms have taken the approach of being file sent rick. Like drop or drop box. Weve taken the approach of being like task entry, really focusing on it is like a sauna and focus on labor prod tuktivity asso productivity and so we are capturing a large portion of the labor. Up to 30 . The head count you will find on the site and that is the only way to have a really profound impact on how things work. Which other companies dont do today. And what is the project that you are involved with. Are they based in Silicon Valley . Or across the country . No, so we have a hundred thousand projects on the platform and 7 of our projects are u. S. Canada based but we have projects in europe and australia. Is there a region in the u. S. In particular where there is more construction than others or something that surprised you . Im wondering, given the push it is very interesting. When we started the company, to give you an idea, atlanta is the city that all of the cities in the u. S. Really started getting Critical Mass for us and now were pretty much in every major metro area. But that is the one that i remember. We didnt get started in San Francisco. And seeing the Movement Toward midwest. This is the last question. Like detroit or cincinnati, did you hear about rust belt jobs of opportunity starting to percolate a little bit . That is not a part of the market where we have a good answer for. But what you are seeing though is that there is definitely a shortage of labor on the west coast. You are talking about the sales force tower, there is highprofile projects where they are flying out very skilled crews from the midwest to the west coast, those guys are staying in a hotel for the week and they carry and im glad you brought that up. It is a shortage in the industry. Right. Were constantly pushing stem and computer program, but this idea, you have to build an office, this whole construction, what if i were interested in construction, what skills in the 21st century do i need to make a lot of money in the market . That is a good question. You definitely have to be more skilled with computer and with mobile than you were before. But if you look at the younger people that are joining the trades, theyve been using smartphone since middle school. There is always that idea that construction is a little bit backwards on technology and not great adopters of technology for a l