Nicolas Hartmann @hartmannnicolas - Twitter Profile

The sooner people realize that different people have different thresholds for what they consider “evidence” to motivate changes in their health practices, the sooner true consensus will emerge. Everyone has to determine what’s right for themselves. Know your thresholds.

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Nicolas Hartmann @hartmannnicolas

almost 3 years ago

@olivercookson Send

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Trung Phan

@TrungTPhan

almost 3 years ago

Birkenstock IPO’d today at a ~$8B valuation. Its CEO Oliver Reichert did a massive turnaround in the past decade: sales 5x’d from $125m in 2012 to $1.3B in 2022. The wildest part: he has zero background in footwear or fashion. Prior to taking over the top job in 2013, he was a crisis reporter in Africa and an exec at a German sports TV station. Reichert was introduced to the Birkenstock family in 2009 via an art dealer friend and became an external consultant. The brand was struggling because the Birkenstock family had three heir sons battling over strategy and control. Reichert created a plan for two of the brothers to exit the business, which simplified the corporate structure. Then he went to realize the full potential of the brand: ▫️NEW MODELS: The most iconic Birkenstocks retail for ~$130. In 2015, the company released a water-proof EVA rubber sandal at half the price, $50-60. This sandal now accounts for ~15% of the 30m Birkenstock units sold. ▫️DTC: The website Birkenstock dot com was launched in 2016 and the online channel has gone from 0% to 38% of sales in 7 years. Birkenstock went wild during the pandemic (work from home boost) and 90% of interest is word-of-mouth (US Birkenstock owners have 3.6 pairs on avg). He 3x’d the workforce to 4k+ and — even as sales grew 5x — expanded operating margin from 27% to 35%. For the effort, he owns at least ~5% of Birkenstock (~$400m). One of the better “consultant comes in and fixes business” stories I can remember. Not bad for someone who said in an interview with The Cut in 2018, “I don’t give a shit about fashion.”

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Nicolas Hartmann @hartmannnicolas

almost 3 years ago

@pip_net It’s never black & white. I’m sure you’re not shocked by all his actions relating to the “the person he’s become” parts.

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Dan Hockenmaier

@danhockenmaier

about 3 years ago

The way that Jensen Huang runs Nvidia is wild: 40 direct reports, no 1:1s - Believes that the flattest org is the most empowering one, and that starts with the top layer - Does not conduct 1:1s - everything happens in a group setting - Does not give career advice - "None of my management team is coming to me for career advice - they already made it, they're doing great" No status reports, instead he "stochastically samples the system" - Doesn't use status updates because he believes they are too refined by the time they get to him. They are not ground truth anymore. - Instead, anyone in the company can email him their "top five things" with whatever is top of mind, and he will read it - Estimates he reads 100 of these everyone morning Everyone has all the context, all the time - No meetings with just VPs or just Directors - anyone can join and contribute - "If you have a strategic direction, why tell just one person?" - "If there is something I don't like, I just say it publicly" - "I do a lot of reasoning out loud" No formal planning cycles - No 5 year plan, no 1 year plan - Always re-evaluating based on changing business and market conditions (helpful when AI is developing at the pace that it is) This org is optimized for (1) attracting amazing people, (2) keeping the team as small as it can be, and (3) allowing information to travel as quickly as possible