think that before we came from this me
He jumped to see this
society of this Italian boy 26
years among other things back then 26
years is set up are 100 people
almost all engineers and then do
this platform of intelligence
artificial who sell to companies one
new super super sophisticated and the phrase
that he told me was
and incredible as if as he comes from
san francisco is italian but harp filmed
as unbelievable as Italy is
the best place to launch a
company right now and they are all
who complain
I do not understand understood, it struck me because of
usually there is the minds and then in
England 1 says no but instead Italy
okay I do not know how you see it in this
moment there are two aspects are like
always they can be two angles
different
the first one to support like this
both the majority of those that are
more than the detractors did not invent ours
country the ability to do business and
especially related to the technology that is
to say that the ecosystem does not
helps and this is an objective fact
because he knows how to grow a new idea
it is not just a problem of financing
inceriale but in short all the steps that
then they keep them and when a system
it is not designed for that for various
anthropological cultural reasons
financial tax trebeschi from the other
However, the opposite theorem also applies
that to say that there are less
people who do these things and therefore
any attention may be
superior for the casino for other than
he said what made me think
ceva but amazing at like 50 percent
of relief on research and development of them
they do a lot and research and development e
and then with the accountants everything goes fast
do not do the problem always seems
far from the truth but then discover
that even Italy is going ahead
I am neither always anchored to the old and then
I’m a lot of shaved who does a
lots of interesting things
this is always a bit because then at the end
I like to remember that things
important in the world has always done it
people who were under 30 for whom
in short, there is a generation that
definitely wants and has the le
ability to do it can be
pessimists to the nth degree but then
at the end there is always someone who with a
po of courage and determination of
crazy I would say
you have to bring home results and yes
throws you know that entering saw a bit of
coupes that are there then maybe later
we can take the fly and makes me
die because they usually go in
offices and there are the cups understood of the
kind who played maybe a scheffler there
the child fencing or another the farag
see us, that is, the cup of when I won the
regional tournament instead line and type la
cup I do not know about schumacher you do not know about
crazy cups robe that not the eyes
I have my faults for samples
provincial championships all over Treviso
not for you I keep them in the race but if you
lost some way
I had lived in fact just the
sport and agonism will be under another
angle that was that this is one
of the few things I did with the
my family, not in the sense that I have
pointed on an independent road but
that was a lucky time
beautiful and educational for various reasons
here are the cups of the world won
when I was president of the stable
they are cups that will leave a pilot
bravino we do not have huge we have
discovered a pilot
amazing products as always for
case or not by chance because he himself
monte sumbra schumacher sorry he enters
on the formula 1 machine because to a
sure point a stable is without
pilot but is one of the few that is there
superlicence is called the world in
how good but is called so much in
as German and therefore to insert itself
even predisposed I can not believe it
and mount on the bitter that at the bottom is the
cup of tell you spa francochamps a lot on
a car of a minor team does the
first round everyone notices that two
seconds faster than the other two
seconds and ways of the world is an eternity e
then from the beginning his story
we take it very quickly
from this small team then he
let’s say that many times I’m asked
those who discovered Schumanian are discovered
tullo discovered briatore and who was
schumacher himself discovered it is
mounted in the car and they would have a
phenomenon absolutely but and you from one
so let’s say you followed the famous
steve jobs theory that says you do not have to
take some very smart people
work with you to tell him what he has to do
make some smart people
why be they to tell you what you owe
do
you followed let’s say the same philosophy
I turn on Michael you say
help us sincere or what the relationship was like
starting a little while back michael ha
certainly given that in short he and had
a living personality
he is a very strong personality
determined in which he created with his
behavior a culture
around the things that happened that is
he was so determined so methodical
so devoted to the cause that in the end that
was a mechanic a manager a
engineer you feel obliged to follow
this kind of attitude aside
my there is no other possible recipe
but it’s not there because it’s me
same expression of various interests in
terms of I like several things
I can only have the approach of
learn from others
I saw the interview with kobe bryant
recent priests ride the link made me
to die
let’s say a week ago e
the interviewer now says kobe what you do
Now 40 years she came out with her
book is doing various things
what is your typical day because from
athlete you get up at 4 o’clock certain night
raise the four to train him
look interested king says I get up
still the four to train has
interested in searches for a room e
the other that is what there is to do
and true, however, I want to set an example to
my daughters is in fact one of the daughters yes
up with the lion 4 815 here schumacher
It seems to me one so when it’s needed
of course it was just this one
predisposition and I married her with
easily I get it I have tried
to make a contribution as long as it came
ride
surely it was mine because then to the
end here talking about wanting to give a
example to the children in short, I always try
that this is the anecdote in the fort
that comes to mind is of
that lily adventure of formula 1 is there
one in particular that says h hopes
crazy but there were so many 6 and per
example I remember not only the gods
our drivers but I also remember
senna ok if he was one of those
he certainly did have a strong personality
and a desire to win crazy that is
he was less strong as a child
others on the local rain so for one
period he decided that he took the go
kart and went out only if it rained
until he became better than everyone
have on the rain and was not afraid of
stay alone, that is when in this
big circus
Now it perhaps less but anyway
then it was very mediatic there were
photomodels were the actresses are and
there was all this great energy this
composite and he was not afraid of
eat alone the night before
race and put himself focused on her
among other things, always as ibrahim ha
hit because he said but some companions
instead of being alone, she went
always hanging around maybe a game
they went out in the evening like that and then
he said but you behaved like no
that you were the leader of the team has us
never, or to educate them, I did so out
with them and I was out I do not know until
3 4 at night and then I said I go out with
you, but you come out with me in the morning
at 7 in the morning he arrives at the gym with
me me and my own energy and that
he wanted the same energy or the
evening do not go out understood then this
approach here
crazy spontaneous or strong
interested in the recent Gallinari danilo
and federica pellegrini are sport and
for me he was playing ping pong
that makes you laugh because then he speaks from nino
I said qualified in polo garda as
to say it is not serious sport we say
very large figure, however, is always full
of teachings then for those who do
the entrepreneur is not because it is stressful
an stress im and then you are married
I mean I can ask 90 stupid
when I asked yesterday to the mit when you
your children received you must signals to
ski
I know that you know very well for something else
But maybe your wife says no
technically know how to forget why
the slippery like never to create this
relationship of the asa has happened in way
quite natural ie they have been
run some principles
simple the first is that of all the
advisable sports considering precisely
that makes besides having a mother
champion had father ski teacher
the federal actor was not among the sports
recommended to deal with
the agonismo no really came also from the
my experience that will then be a Roma
painting of box being the sons of art
no for which it is better to choose a road
independent is to make it do it
spontaneous as a game is definitely
do not do it with parents this is one
first thing you learn a ski instructor
better than you do not teach your child
so neither is indicated I have
tried to teach to kill the
son the cartoon pong one of the most
small but watched and saying no play
talk to pellets you do not play
I live but I know something about it
just like an idiot and a bass
we talk more here trust that is
a bus came in the taxi and the
net taxi driver what you do started it
talk to taxi drivers too
very talkative sex though
they are curious that we want to know
of things we think they are one
photos from many that alone and together of
take it and the rosta league psychologist
think of how many people, however, always say
that who you do with how I do interviews but
who the Interisti was interested in was interested in
benetton restoration and what he told me
here is the Venetian clothing so
sweaters of the motorways dr
and I said no and sandro beton ie from
92 does his company has nothing to do with no no
but it is him however of the family of
payment but if the family is not that
lifetime
and this we say on the one hand it is obvious that
it is fortunate not to be born with a beautiful
parachute a good starting point
on the other hand, that is, a maiden anyway
it’s because whatever you do
that is, it’s always your fault to disregard stuff
that maybe has nothing to do with it or anyway
never manages that if I have tried to
soon find a size that I can
let me write mine
personality is my personality is
definitely voted for independence a
find a form 21 investment now
I am many at the age of 26 who are 26 years old
that my business was born yes yes
the head of the people is you too
there to make the sweater but maybe
even for one because for a very short time
I did this period because I had it
asked my family but then, in short
wanting to reinforce the concept of
independence given early lady le
resignation because we are saying that
I felt I did not have a steering wheel in my hand
but they had put too many but not
flying maybe it was someone
remember that period not really me
I make the entrepreneur on my own
always
I think in the end I wanted that
it would also be wrong to try not to
do not find good in yours
roots but not so much for the network of
protection I was lucky
live and have been put in
conditions of not hearing this network of
protection is not a little good for you too
if then you actually know that maybe there is no but
to look for the good and for me the good
it was an attitude I voted to do
enterprise to be independent to have
one’s own opinion to be
self-sufficient, this was not for me
essential for when I came back
from harvard emblazoned with great pomp
I had to take care of family things
instead it is already 26 years we have discovered
that we had different opinions and
then
and so I ‘m willing to put myself to the
try starting an activity that does not
it existed then in Italy which then has
ended up being an activity that has
the thrive at was successful
equity then the funds that help them
small businesses to become big
companies or medium-sized enterprises to become
larger and structured and was a
success success measured by results
of the growth in turnover from
profit growth
in fact, I wanted to ask you, however
excuse me by allowing me to try
take the good that was the root
in short of those lucky enough to be able to
do business and leave your mark
and I did it with my business
then alas ft ended up in the rom painting
of boxes that you would not want so many times
that this distinction should be clearer
in the sum we say is perhaps the price from
pay not for the fact of having a
surname still important at that point
the price to pay that you have to prove
show and show equally among
the other I have to say I posted interview
with federica pellegrini
and to me it strikes me of the people that
maybe in the comments write but no but
this is nothing 85 and therefore
whatever it does in reality is always then
detractors on the other side it is clear that
It’s a great starting point for this
in my opinion, an opportunity that is
they pose intelligent collects but there is
also a lot of people leaving from there
and then it makes disasters and neither is it
the path but I think paradoxically
the hardest thing to establish one
own identity its own field from
I was lucky to become a game
locate a sector move him
in short, it cleared me soon
especially for insiders
this is a known thing and then a
craft where how good you are is ri
measured every 10 12 years because you go
from international investors us
we bring capital from abroad into
Italy to be invested in the
small and medium business and every ten
years
there is a verification in the sense that part one
new cycle of investments for which
we did well and did well
we are confirmed and done well
to say that they grew up made more
and they are better than they are
Croatian
I have seen some operations you have
done
I saw the space seen there plantar
some are above all by dimming
enter you there on what size of
company revenue and if you enter only
with a capital injection or is one
let’s say a more strategic contribution
division of
we say revenue in the business for
help him grow and do not put
only money looks at the change of
march and we made it true though
the activity is more than 26 years old
we did it in 2007, when
arrived at the great crisis in which
we have decided that we not only
we entered the capital but we wanted the
majority and we wanted management that is
we want to take all of it
responsibility for the route because
we did this we did
this is because we have identified
the opportunity in the paradigm changes in
other words the world changes and you if
manages a company in continuity with the
risk of losing opportunities is necessary
the risk even of ending up in
rocks and so we have seen this
as a great occasion the occasion of
make a difference by imagining gods
paradigms and organizational designs
companies that could seize the
change the future on what size
of company size we are on
companies that we mean on average between
the 80 and 200 million turnover
so many times even the 50 depending on the
progress that we see but I would say that
what also that guides us in the
selection of our targets is just the
change that we can imagine
einstein said that if you can not
claim that the result changes if
keep doing things in the same
so we know
perfectly that if we enter
a company already formed that has ten
fifteen twenty years of history and we try
doing the same things we do
presumably worse than those
there was before us we can only
imagine having a sense of vision
different and then draw the costs mentioned
always spending was a school case from
this point of view because the expenses
the chain is the kind of cinema one
sector with low marginality we leave
we entered it at the beginning of the
2010 if I remember well if there were people at the
cinema
people do not go over Greece things ie
televisions
the behavioral model has changed
there is no technology the big players
were time warner berlusconi with jellyfish
which were all considered activities
an Italian market is marginal
fragmented and we have done instead
another reasoning we realized
that the new generations
they still considered a moment of
aggregation
we realized that some markets that
you realize that 50 percent of the costs
when you go business they are paying the
rights to the majors ie those that you
give the finn
in other words and Italy paid more
of the other paganotti markets of the
France paid more than Germany because
It was a fragmented market and therefore
mediums managed to arrive and to put
in competition you do not buy my movie
because according to you, now I’m doing it
pay I see it from your competitor and you
it creates a problem so the key was
create a critical mass was
our strategy is very simple
we have aggregated two great players
we took 30 percent share of
market
we have invested in technology
so the satellite for the rooms are
empty usually before five o’clock
afternoon so we will play the matches
documentaries for schools on Saturdays
morning from new york
the live opera then better le
it also rises in moments of ancillary for
where the food and accessories we are
enlarged we have become more muscular
lowered the costs at that point from here to
that point we went with the 30 for
a hundred of the market could be gone
from the big cinema providers
Americans have said now that we have
the contract five months four months of
arm wrestling and from that day is
changed and changed the sector in the sense
that we took back the marginality in
Italy that this company was waiting for us
but then everyone else in the wake
so it was the change la
creation of value ie we are not that
we managed the rooms better than the
others
we have changed the paradigm here
this is a case where
it is ours in that case
how do you manage the company
you choose a ceo to put that
maybe have skills in that area
is that we have a vision maybe more
modern look this is a theme
very important for our country that is
the dimension of the relationship and the
methodology in the shareholder relationship e
management
unfortunately this is an Italian limit
he believes that if one does not manage him
something is not worth anything
explains why we have the old ones
generations who never give up
they explain why they do not change these
paradigms because they are not cultured
collected opportunities to reshape
Actually, the shareholder has a role
important that is continuous dialogue of
proposition of goad towards
of management
here we try to identify one
management that can live up to it
to have a dialogue with us at that
level
ok so it’s a role we say further
because in my industry we say tech
start up where maybe there is the
startup that part ago has understood or 0 profits
or maybe the milioncino 2 is understood
millions at that point take sid round
then a round and that is that it grows
gradually the wind typically
capitalist you angel depending on whom
invest puts wheat and then
basically we say go ahead you
manage the you and we hope you
face the billionaire exit instead of you
entry into the merits goes to us we have
this here was one of the motivations
of my trade
the last cycle of which I spoke to you
since 2008 on average companies in this
investment period are more than that
doubled in turnover have
triplicate profitability have
doubled investments have more
which doubled for employment
employment for us is a unit of
important measure but above all we have
strongly embraced this concept of
share vaglio ie imagine that
the company is a fact of everything
there is not only the interest of the shareholder
but there is the interest of the local community
who is you in the company and therefore for?
we value creation is the whole
of things that we want in the end
of the cycle when we go out because this is
our job from investment that
the company is much much better
respect as we found it to
regardless of numbers in fact if there
think about the big problem of companies
technology sees England and if there is
the big criticize the various google
facebook 45 big players why not
it says ok you are very good you make profits
crazy big technologies
but so massacred the ecosystem no
because after all you are only there
the profits make only you end of the
history so there can not be this
kind of long-term approach because
after a while discount remains and other ways
everyone is absolutely needed
also purposely of competitor
on this front other operations
interesting that come to mind
that reporting that now there are gods
particular sectors that you go to
taking it is then interesting companies
let’s say I would reverse 6 when I am
back from hard with michael porter one
of the important things I had studied
it was this anticipation of the big one
datanalysis ie find the analogies between
different things and we are there
specialized on this was one
of the reasons why I decided in the
meaning that he had a different opinion
compared to what you thought at home
management and ownership of the family
so he specialized on it
which sectors the sectors in which
there is more change then today for
retail example
distribution is a source of change
we look at change
I would say that we do not have a recipe or gods
precise targets we look for situations
in which the change of things can
create a cordon of the retail world
because we always talk about amazon
however, saw a presentation
wonderful record of galloway that
what he wrote the four is a
American professor
flow of the slides a week ago
saying and amazing how amazon now
it’s not just retail anymore but to say from
milly point of view is the second
company in the world that invests in
production of content type 5 billion
year advertising is growing by
ugly and incredible like those companies
then they can enter many markets
retail world as you see it in the famous
everyone’s discussion they buy only
online
but it is not true, on the other hand, it goes even then
I remember when I came back first
It was claimed from the United States that
in Italy they would never have arrived i
large shopping centers would not be
never arrived
large retail chains was us
we have the shops we have food
under the house we pinched the law
ass
and then we moved quickly we are all
dead
then in reality you see that there is always a
balance in the sense that then the market
it becomes more and more articulated and has
need all these differentiations
for sure, when we look at companies
in retail we think about what’s coming
called the amazon effect today that is not
this type of quarrel in this product
it can be endangered by this
great logistics capacity e
distribution
so surely there will be great effort
because that also means
an opportunity because for the consumer
prices will tend to fall
I think in the end there will be some
various segmentations this is the answer
there will not be a single solution
also because amazon or at the moment
there is this system amazon fba ido is
in practice you can put yours
products inside and store amazon and then
their fans all the logistics deliver
with first in 24 hours an hour what it is
an incredible stuff compared to some
year ago that is how do you put yourself on
stock so a logistics like this for
which is clear that they are impacting
very strong way
instead
this is a new company in which I have
invested and makes messes of hard work
sweet dallas watches
Well here we are in this area
just come out but frozen brioche
beautiful sector and we have done a lot
good in the sense that we brought a
company that was a good company
familiar to become great in a manner
the frozen food sector is structured
few know when one goes to buy
a cro san
they are not yet those who have it
real pastry behind are very few
the frozen and high-quality product
quality we have invested a lot in the
product quality
we have entered the sweet sector
the only Italian company that had one
direct distribution chain in
compare the points of sale but if you
you ask me what’s left of this
experience therefore a company in which
we have gained in the next
kid but this was born and we have
done something in which we have
I made everyone glad we made
everyone is happy with the local community
because we did a school of
training
together we made a center of
training together with schools
hotels to learn how to do
the entrepreneur and open a small bar
so we worked with the communities
locals
we have redone a site is called
Asolo oven we can advertise
so much now it is no longer ours
so it’s someone else’s wallet
we advertise to third parties but in
excuse me in that case the turning point with the
statue second the turning point was that
to understand that this this model
distributive to go one to understand that
the quality of frozen products is
become extremely high and at the end
even if there is a psychological barrier
in the sum of things it is a
product that can have advantages
just that you think you are once there
fresh brioche you found it at 7 o’clock
morning then it was over now you can
find fresh
the whole newspaper is there all day
you’ve been a lot of technology now
When you do these products
imagine yourself a little like making snow
artificial ie the moisture mix
temperature water temperature
of the ingredients
you must consider that the conditions
let’s call it technologies to do these
products and advanced today in short
notifications or just for scientific you
you can make a constant product of
maximum quality with a lot of machinery
advanced then sum of all
benefits of being therefore the product the
local community that is to live to the full
the company success and growth e
and then share this channel
of direct distribution that allowed
then it allowed us to explore new ones
markets we went to america we are
went to austria we went these if
she market I have been in China three
weeks in March and then I have to go in
india and goods these markets that maybe
you also have a lot of prejudices not
on china or a thousand prejudices then instead
see incredible numbers
who knows in technology a lot of
Chinese tech companies that make a mistake
crazy
which are markets for you
particularly interesting
today if you see on some companies that
maybe you never thought of c
heck the French market for brioche
it was resounding when I saw something
interesting but I think it is
fundamental to have the approach of time
in turn, things change that is evident
that you realize that india is cheating
of the highest level engineers and
it’s an important market and it’s finding
its dimension
the other day I read the newspaper I say
we have arrived at the paradox no, that is
we have alibaba but making a jack
appeal against trump and then a Chinese
who tells an American he looks at the
trade should be used for peace and not for
they look at it is one says but you if someone
he said this thing
ten years ago we estimate and this is the
beautiful in the world and this is the beauty of the
change
nice no in the end things are put to
miraculously placed la cia la
China looked like a culture but because it is
then in the end he does not mind the American one
traditional and inclusive and that
Chinese all these images one
species of great islanders who say we
we are different from the rest of the
world
and then instead things change so I
I think the world of the future is that
just of the continuative dialogue
without reservations with maximum opening then
you know from the numerical point of view i
important markets are those that have us
cited the usual but all companies
what video is seen nor do they exist in maria
in these years what are the ones for you
characteristics where at some point
you can actually say this company
it can make numbers can grow it makes sense
enter this other company maybe
promising but you have some say le
your guidelines your checklist says ok
here now in the parameters kodo this
morning with one with one of the boys
we were talking about invested with one
investment in this we have today
in portfolio that is that in the world of
fashion and I tried to do the bought the ha
bought
I do not remember what parliamentarian bought
to someone and and I said see ours
craft
if we notice when you go type in
these sectors
the truth is that a company is a whole
of balances
otherwise an entrepreneur sometimes us
we see that an entrepreneur is successful
in a given thing at a given time
and then try again ten times not
there is the phase that instead is always the
same person he was convinced he was
rare that someone makes it 3 4 times
rin starting maybe one does it
because he is a great entrepreneur and
anticipate change with moves
extraordinary with moves
I like it discontinuous
call back
and therefore our profession explained
This morning is not so much that of
replace one of these forces that
they create the balance known to you in
a fashion company and you know that for
definition
there is a sort of antagonism e
discussion between what the
product is what makes the production
what makes the production and that of the
commercial and commercial
that of finance because I’m in
objectively opposing these
these are not that of the collection
would like to have all the products of the
world always available and that
of production would like to have a
produced a color a measure is that
of finance would like to have
investments and therefore the trade of one
good shareholder is understand that these
balances are a fact of narco then
what a shareholder needs to do
always that there are always some
balances to recreate inside
so we are looking for this
when we realize that there is stillness
do not change not the opportunity of
grasp what is happening in the
world to insert us and become us
this force of continuous reflection
internal that brings you to the best second
me this many times ends up being
the key to success of all this
online world with all influencers
this is one of the kardashians he has
launched a make up company made 900
million turnover in two and a half years is
practically the recent entries entries to
100 million thanks to 100 million
follower on instagram launch mine
company
I’ve already had the public
agreement, however , manages it with seven
people because all the production is done
externally from the company we say that
he makes the production and the logistics and she does it
promotion part then creates how to say
a business that maybe to do in
competition oreal tahrir as you see it
how this world is impacting in
sectors that months is definitely a world
important is a world of the future
it is certainly not said to have gods
contacts have visibility in short
It becomes easily intuitive intuitive
we are there becoming a system for
communicate and raise awareness of a brand
then replace yourself with the costs of
communication from the other side and then
there will be cases of success, however it is
also true that we see that there are many
cases where this is not enough
because it is not enough we come back to
what we said, that is, they want us
this set of balances that is not
given for which you present I do not know what purpose it has
done because it does not follow in particular
these things, however, it seems to me that also the
daughter of trump is visibly the
brand but in the end he had to stop it
no and it’s not that he missed her
sure certain visibility ferragni i’m
lowering strongly with a personal brand
from which then comes out and shawn business
It’s nice that the story of an Italian dwarf
a month ago I like this I did
a video another day when I am
married two guys faith if the landslide that
I do not know not made a video from
title because in Italy if it happened
you’re an asshole because it’s unbelievable
like the amount of insults that you
pray the boys almost gigantic no
instead, there was a lot of reasoning
simple you can like a pleasure
this is another story but they are two
shaved that they make their companies do
their turnover is certain but what do you want
in the sense it lets work if you do not
they like to follow them and then anyway
they brought in some way
directly or indirectly carry a
Italian case abroad then us
we are a country that goes beyond everything
what we can say what not
we like what we like instead
we are a country of beauty and goodness
I do not see why I have testimonials
that bring these values into form
can be shared abroad or not
being a drama, not even added value
for all you feel three sectors that in
this moment you keep an eye on
especially if there are any
let’s say from wherever there is destruction
change, etc.
But there are some areas where you say ok
this sector here or this topic e
I do not know which drones I am at drones
in the Italian case, I try to look
of
of the salient elements
I think precisely that the beautiful and the good
the ability to distinguish
in short these these elements is one
typically Italian
the technology and therefore the shortening
of the space that exists between those who make one
what and who consumes it is another
opportunity then technology understood
like the chain of value that is
shortens is another element that we
let’s look then I would say that I am a bit
these two elements that we look into
so are the things that are
related to the world of architecture
constructions intended as an aesthetic effect
good and technology are good
that will shorten the relationship you are that
go look for companies or they are the
companies that are close to you or both
Things usually like how it works when
one wants to involve both
I think that in 26 years, especially for the
In short, we are insiders
become the 21 investments that between
little will change its brand
it will become 21 invest because it had
widened the right you are widen to
national exactly to Europe we have
thought of I’m very sorry to put
Italian barriers will be the logo and you
you’re from where it comes 21 no I would not have said
from ping pong when you played 21 but me
he knows it’s not that at 21 it’s going
in the meantime it was the inspiration for the century that
it had to be ok and therefore, if not
has started in 92 rodents in the
beautiful and then I found it ironic in one
world in which all finance used i
Greek Latin names so instead of saying
that was a number because it could be
then discovered that a number that
many meanings you could
I recommend going to see on
wikipedia all the meanings on the
official source of there is something
and then it made me laugh this fact here
that was a number for which finance the
number was different pronounced in all
the parts of the world differently
but that same means cubes ti
tell you why something makes me
always reflect and that often who
let’s say stand on an observatory more
privileged compared to others al
point of view of the opportunities that
information also arrives often
improve compared to others for
make decisions I think about
investments, however, I think the sector
what are your sources of information
daily
how you understand what they are
let’s say the right ways
how do you rate your own market?
concretely what you do opens the courier
in the evening and start reading or then
I open the evening courier and pass it
in speed
I look at the news on the internet more
important but above all do it with the
people because I never know every time
I speak with a CEO with
one of the guys who works at 9pm
investments I put together a set of
information in which more or less for the
end of the day or definitely
learned but I also focused which ones
they are the salient themes of that period
I thought I had some kind of dossier
supersegreti that for para in yours each
day you arrive as a tramp the dossier
the precise that he then says he said
I do not read them I do not have any civic time
the worst cavani for the secret services
in searches from such have invested in
these years more or less in 80 sectors
different
so you image to open yours
team say let’s imagine kim and then everyone
these entrepreneurs we have
in short, he met all that
this generated in terms of
frequentation or my American world
who attended the English one when
I lived in England for which
in short, the network
a book that second is extremely vast
you an entrepreneur should read
I am a lover rather than the curious
I first say what I liked to
I liked to found you nto lunger
charlie munger that the historical partner of
warren buffett has gone out of studies because not
it is written by him but it seems to me to be in denver
in a name like this between very beautiful and
on all cognitive buyers such as
make better decisions in
substance because then to the entrepreneur
decide it and then with it really liked it
long foundation not having a plus and a
booklet let’s say black some say to
costs a lot like 80 euros and not
I said but if 80 euros make you take
of the best decisions that maybe
giving away well spent anyway he is the
my advice, you have a book
particular not worth competitive boasts
strong ie do not give that stuff too
because those are not let me think
because it tells you that it brings out mine
detour I’m thinking
I found a book yesterday no yes
call 21 rules to match the rare
seats then I read you like children
used still the bignami but I read the
first, that is, today it seems to me that that is
a ledger thing I have not read yet
just the others tell you the book that
I will read these theses book galea rare here
think that I would have told you modèles that the
harari precedent which was mere
loved it on technology and
this I have just started and must
talking at the beginning speaks about the whole
fact that there is no longer a story
winning first there is the liberal story
the most communist today is missing
this frank i have to read both
someone sometimes are concepts that
I have to deal with these then
I read them with interest you have me
asked about my children of sport in
reality in children are quite in
focused on various experiences that
the former have already volunteered
work experience the school that
in short, it is a moment of formation
fundamental second
for which some of these readings serve
also to enter more in tune with
they are there at least for which this fact of
how today we experience information as we do
lives this new relationship with the
technology know this detachment also from
reports human relationship seems to me that
this this book dear a riva da in
some way to identify an area
gray that we have not yet defined
in this great revolution we are
living we know all that
let’s see today but the effects
possibly positive or collateral in
time they are known to us because
because then we will adapt everything though
found it funny that the number was
21 and will ask him the rights is a shit
rare, however, Israeli is really a
interesting thinker in pleasure like it
very very quiet but very dry him and
jordan peterson s that I like very much
and he instead 12 that you will want 21 to
the opposite of the Russian you understood it
act on note titles some time ago a
dude but wrote a comment one of the
my nearest hayter wrote a
comment insulting them and saying if you
I had succeeded for really I do not know on
line certainly is not on and if you have
it really happened then that happened
a very personal thing but let’s say i
numbers then online they look and succeed
you really would be in the pool to take the
Sun
and this phase made a lot of weight because
I thought I do not know any
successful person however measured in
any sector that is sporty
the entrepreneur who spends the day in
pool also taken because after that it is
in the pool one day of the days a month
to drink sassicaia after a while
what did you say something that makes me
come to mind surely the beginning
of my career but now I make myself
against that I created great amazement that is
I come back from harvard goldman sachs the
maximum of the blazon of the curriculum
they offer me to dialogue with the family
in the sporting goods sector
then we had bought nordic they had
bought nordica prince and roll blade e
instead it basically has me with the
work done with michael port to
United States advance that there will be this
great change will come great
distribution therefore the strategy must
however, the numbers say that instead
things are fine, so instead
they say no to you but we have the model
benetton will work what from that
nose when I made this arrival the
Your point is practically I made myself
I count that everyone told me that
I was arrogant presumptuously right
I was 26 years old but I obviously had
this necessity
I had this need to look at myself
mirror and know that I had done one
my thing and I wanted to be an example
for my children, that is, you must arrange yourself
but basically
I wanted to try to contribute no
and this for people seemed
impossible but how then can you go
having a safe job is at six
arrived until here is a date
fatigue because then if in my family
it’s not like there was a tradition for it
go to school abroad ie I have
done all alone in quotes with
a good network already protection
obviously, but I did not do it
but it’s just like you say people
he said no no but there is something strange and
even when success comes because
your companies grow because you are busy
more people because things
there is basically a way of thinking
in which to say but who knows how it went to
who knows who helped it?
but instead we understand that the real driver
you know what is the real driver that I in the
I had fun doing all this
I imagine that is the same motivation that
there is but it is so once I spoke with
steve ballmer many years ago and that he
he was in charge of microsoft at the time
he was successful super billionaire e
I asked him a stupid question from
naive with very good is based
we have to invest in this happens in
phases as you know is practically mine
stupid question was a garden estimate
he advertised
I ask him but estimates but who makes you do
knots raised in the morning and he has me
really looked like saying you’re a
idiot child and I did not understand but
instead just at things start going
good but because it’s like saying federer ma
why should you stay in the pool?
sunbathing you are billionaire has
all won, however, what does that
motivation the kobe bryant of before that is
it’s not that it’s finished and you always want one
next challenge then according to me and it is
the only source to improve itself too
because if not, what are you doing is standing there
immobile your typical day like a
part give in the pool but well pool was
evident
but there is not a typical day we say that
little maybe then if at the end I do
a craft having this series of
investee sectors by crossing data
some others I imagine so much
a very basic trip where you are
a treviso to 6 anchored in accordance with a
treviso sila I was going then you know my children
they go to school their children go to school
trevi no now they are going
abroad
the first that is actually according to what it is
male at a high school in america
now I have just accompanied him
and I saw this this I told him
look at six young people at 15 for whom I am
go to america 15 years old I know
gone 18 years ago difference
let’s say that this has been prepared
moggi in order to communicate keep in
contact a little speech however at the end
he said the most important stuff you
I envy you I envy you because I am
some are great experiences
the biggest instead makes classical high school
even if you did the
scientific at 100 million
I am very pleased that I always say that
the ancients in this world of the great
changes can be taught to
find solutions without having points
stop there was what they were obliged to
do I see in her short, this puts
its own scientific mask is drawn
the equations all ste strange
Classical Latin has yet to greek
it is talking a hybrid formula with
English but I think this type instead
of thought infrastructures
few know that in the united states in the
silicon valley begin summarizing
how do you know how to take on again as a matter of fact?
assume in the first time as a leader
in the European companies that are
graduates in philosophy
yes because the technology that changes and the
people and sunbeds together through a
thought somehow superior
not through technicalities because
those change certainly do not mind
so you are also treviso no here
on the fact of treviso I was going ho
seen so many guys when I know
invited abroad that he did
the university where is the quiet circle
they had if I do not break you but the ball
that act calm I go to your life
quiet over goes to take the children to
see absolutely no it was right
this is the dimension with which the
dimension with which I am
grown up no then you can be the
citizen of the world but must have some
roots I remember these that they had
German parent the French mother
they had lived in Switzerland then they were
went from here to there that told him
mature from where their red vain come from
and you need to know where to go
really know where you come from then
this was also an exercise
scheduled if you left today from
zero without a penny
you’re here teleporting the movie parts
just these messes forward and that’s it
it ‘s nothing and it has to start from zero you have to
reinvent yourself in this world here 2019
2020
what would you do but in my opinion each one
we must start from our strengths
what when they ask me when it arrives
someone what you value is evaluated
I left my strengths then
I think a 1 that is Italian
on average it has characteristics
who has seen the beauty he has known
the things that basically does
sympathy around the world and snow of
many Italians in the food sector
for example, now the food sector is
a sector that creates so many many
opportunity maybe I would look at it
that strengths and sectors maybe
Italians who can solution abroad
thank you very much this year
[Music]
He jumped to see this
society of this Italian boy 26
years among other things back then 26
years is set up are 100 people
almost all engineers and then do
this platform of intelligence
artificial who sell to companies one
new super super sophisticated and the phrase
that he told me was
and incredible as if as he comes from
san francisco is italian but harp filmed
as unbelievable as Italy is
the best place to launch a
company right now and they are all
who complain
I do not understand understood, it struck me because of
usually there is the minds and then in
England 1 says no but instead Italy
okay I do not know how you see it in this
moment there are two aspects are like
always they can be two angles
different
the first one to support like this
both the majority of those that are
more than the detractors did not invent ours
country the ability to do business and
especially related to the technology that is
to say that the ecosystem does not
helps and this is an objective fact
because he knows how to grow a new idea
it is not just a problem of financing
inceriale but in short all the steps that
then they keep them and when a system
it is not designed for that for various
anthropological cultural reasons
financial tax trebeschi from the other
However, the opposite theorem also applies
that to say that there are less
people who do these things and therefore
any attention may be
superior for the casino for other than
he said what made me think
ceva but amazing at like 50 percent
of relief on research and development of them
they do a lot and research and development e
and then with the accountants everything goes fast
do not do the problem always seems
far from the truth but then discover
that even Italy is going ahead
I am neither always anchored to the old and then
I’m a lot of shaved who does a
lots of interesting things
this is always a bit because then at the end
I like to remember that things
important in the world has always done it
people who were under 30 for whom
in short, there is a generation that
definitely wants and has the le
ability to do it can be
pessimists to the nth degree but then
at the end there is always someone who with a
po of courage and determination of
crazy I would say
you have to bring home results and yes
throws you know that entering saw a bit of
coupes that are there then maybe later
we can take the fly and makes me
die because they usually go in
offices and there are the cups understood of the
kind who played maybe a scheffler there
the child fencing or another the farag
see us, that is, the cup of when I won the
regional tournament instead line and type la
cup I do not know about schumacher you do not know about
crazy cups robe that not the eyes
I have my faults for samples
provincial championships all over Treviso
not for you I keep them in the race but if you
lost some way
I had lived in fact just the
sport and agonism will be under another
angle that was that this is one
of the few things I did with the
my family, not in the sense that I have
pointed on an independent road but
that was a lucky time
beautiful and educational for various reasons
here are the cups of the world won
when I was president of the stable
they are cups that will leave a pilot
bravino we do not have huge we have
discovered a pilot
amazing products as always for
case or not by chance because he himself
monte sumbra schumacher sorry he enters
on the formula 1 machine because to a
sure point a stable is without
pilot but is one of the few that is there
superlicence is called the world in
how good but is called so much in
as German and therefore to insert itself
even predisposed I can not believe it
and mount on the bitter that at the bottom is the
cup of tell you spa francochamps a lot on
a car of a minor team does the
first round everyone notices that two
seconds faster than the other two
seconds and ways of the world is an eternity e
then from the beginning his story
we take it very quickly
from this small team then he
let’s say that many times I’m asked
those who discovered Schumanian are discovered
tullo discovered briatore and who was
schumacher himself discovered it is
mounted in the car and they would have a
phenomenon absolutely but and you from one
so let’s say you followed the famous
steve jobs theory that says you do not have to
take some very smart people
work with you to tell him what he has to do
make some smart people
why be they to tell you what you owe
do
you followed let’s say the same philosophy
I turn on Michael you say
help us sincere or what the relationship was like
starting a little while back michael ha
certainly given that in short he and had
a living personality
he is a very strong personality
determined in which he created with his
behavior a culture
around the things that happened that is
he was so determined so methodical
so devoted to the cause that in the end that
was a mechanic a manager a
engineer you feel obliged to follow
this kind of attitude aside
my there is no other possible recipe
but it’s not there because it’s me
same expression of various interests in
terms of I like several things
I can only have the approach of
learn from others
I saw the interview with kobe bryant
recent priests ride the link made me
to die
let’s say a week ago e
the interviewer now says kobe what you do
Now 40 years she came out with her
book is doing various things
what is your typical day because from
athlete you get up at 4 o’clock certain night
raise the four to train him
look interested king says I get up
still the four to train has
interested in searches for a room e
the other that is what there is to do
and true, however, I want to set an example to
my daughters is in fact one of the daughters yes
up with the lion 4 815 here schumacher
It seems to me one so when it’s needed
of course it was just this one
predisposition and I married her with
easily I get it I have tried
to make a contribution as long as it came
ride
surely it was mine because then to the
end here talking about wanting to give a
example to the children in short, I always try
that this is the anecdote in the fort
that comes to mind is of
that lily adventure of formula 1 is there
one in particular that says h hopes
crazy but there were so many 6 and per
example I remember not only the gods
our drivers but I also remember
senna ok if he was one of those
he certainly did have a strong personality
and a desire to win crazy that is
he was less strong as a child
others on the local rain so for one
period he decided that he took the go
kart and went out only if it rained
until he became better than everyone
have on the rain and was not afraid of
stay alone, that is when in this
big circus
Now it perhaps less but anyway
then it was very mediatic there were
photomodels were the actresses are and
there was all this great energy this
composite and he was not afraid of
eat alone the night before
race and put himself focused on her
among other things, always as ibrahim ha
hit because he said but some companions
instead of being alone, she went
always hanging around maybe a game
they went out in the evening like that and then
he said but you behaved like no
that you were the leader of the team has us
never, or to educate them, I did so out
with them and I was out I do not know until
3 4 at night and then I said I go out with
you, but you come out with me in the morning
at 7 in the morning he arrives at the gym with
me me and my own energy and that
he wanted the same energy or the
evening do not go out understood then this
approach here
crazy spontaneous or strong
interested in the recent Gallinari danilo
and federica pellegrini are sport and
for me he was playing ping pong
that makes you laugh because then he speaks from nino
I said qualified in polo garda as
to say it is not serious sport we say
very large figure, however, is always full
of teachings then for those who do
the entrepreneur is not because it is stressful
an stress im and then you are married
I mean I can ask 90 stupid
when I asked yesterday to the mit when you
your children received you must signals to
ski
I know that you know very well for something else
But maybe your wife says no
technically know how to forget why
the slippery like never to create this
relationship of the asa has happened in way
quite natural ie they have been
run some principles
simple the first is that of all the
advisable sports considering precisely
that makes besides having a mother
champion had father ski teacher
the federal actor was not among the sports
recommended to deal with
the agonismo no really came also from the
my experience that will then be a Roma
painting of box being the sons of art
no for which it is better to choose a road
independent is to make it do it
spontaneous as a game is definitely
do not do it with parents this is one
first thing you learn a ski instructor
better than you do not teach your child
so neither is indicated I have
tried to teach to kill the
son the cartoon pong one of the most
small but watched and saying no play
talk to pellets you do not play
I live but I know something about it
just like an idiot and a bass
we talk more here trust that is
a bus came in the taxi and the
net taxi driver what you do started it
talk to taxi drivers too
very talkative sex though
they are curious that we want to know
of things we think they are one
photos from many that alone and together of
take it and the rosta league psychologist
think of how many people, however, always say
that who you do with how I do interviews but
who the Interisti was interested in was interested in
benetton restoration and what he told me
here is the Venetian clothing so
sweaters of the motorways dr
and I said no and sandro beton ie from
92 does his company has nothing to do with no no
but it is him however of the family of
payment but if the family is not that
lifetime
and this we say on the one hand it is obvious that
it is fortunate not to be born with a beautiful
parachute a good starting point
on the other hand, that is, a maiden anyway
it’s because whatever you do
that is, it’s always your fault to disregard stuff
that maybe has nothing to do with it or anyway
never manages that if I have tried to
soon find a size that I can
let me write mine
personality is my personality is
definitely voted for independence a
find a form 21 investment now
I am many at the age of 26 who are 26 years old
that my business was born yes yes
the head of the people is you too
there to make the sweater but maybe
even for one because for a very short time
I did this period because I had it
asked my family but then, in short
wanting to reinforce the concept of
independence given early lady le
resignation because we are saying that
I felt I did not have a steering wheel in my hand
but they had put too many but not
flying maybe it was someone
remember that period not really me
I make the entrepreneur on my own
always
I think in the end I wanted that
it would also be wrong to try not to
do not find good in yours
roots but not so much for the network of
protection I was lucky
live and have been put in
conditions of not hearing this network of
protection is not a little good for you too
if then you actually know that maybe there is no but
to look for the good and for me the good
it was an attitude I voted to do
enterprise to be independent to have
one’s own opinion to be
self-sufficient, this was not for me
essential for when I came back
from harvard emblazoned with great pomp
I had to take care of family things
instead it is already 26 years we have discovered
that we had different opinions and
then
and so I ‘m willing to put myself to the
try starting an activity that does not
it existed then in Italy which then has
ended up being an activity that has
the thrive at was successful
equity then the funds that help them
small businesses to become big
companies or medium-sized enterprises to become
larger and structured and was a
success success measured by results
of the growth in turnover from
profit growth
in fact, I wanted to ask you, however
excuse me by allowing me to try
take the good that was the root
in short of those lucky enough to be able to
do business and leave your mark
and I did it with my business
then alas ft ended up in the rom painting
of boxes that you would not want so many times
that this distinction should be clearer
in the sum we say is perhaps the price from
pay not for the fact of having a
surname still important at that point
the price to pay that you have to prove
show and show equally among
the other I have to say I posted interview
with federica pellegrini
and to me it strikes me of the people that
maybe in the comments write but no but
this is nothing 85 and therefore
whatever it does in reality is always then
detractors on the other side it is clear that
It’s a great starting point for this
in my opinion, an opportunity that is
they pose intelligent collects but there is
also a lot of people leaving from there
and then it makes disasters and neither is it
the path but I think paradoxically
the hardest thing to establish one
own identity its own field from
I was lucky to become a game
locate a sector move him
in short, it cleared me soon
especially for insiders
this is a known thing and then a
craft where how good you are is ri
measured every 10 12 years because you go
from international investors us
we bring capital from abroad into
Italy to be invested in the
small and medium business and every ten
years
there is a verification in the sense that part one
new cycle of investments for which
we did well and did well
we are confirmed and done well
to say that they grew up made more
and they are better than they are
Croatian
I have seen some operations you have
done
I saw the space seen there plantar
some are above all by dimming
enter you there on what size of
company revenue and if you enter only
with a capital injection or is one
let’s say a more strategic contribution
division of
we say revenue in the business for
help him grow and do not put
only money looks at the change of
march and we made it true though
the activity is more than 26 years old
we did it in 2007, when
arrived at the great crisis in which
we have decided that we not only
we entered the capital but we wanted the
majority and we wanted management that is
we want to take all of it
responsibility for the route because
we did this we did
this is because we have identified
the opportunity in the paradigm changes in
other words the world changes and you if
manages a company in continuity with the
risk of losing opportunities is necessary
the risk even of ending up in
rocks and so we have seen this
as a great occasion the occasion of
make a difference by imagining gods
paradigms and organizational designs
companies that could seize the
change the future on what size
of company size we are on
companies that we mean on average between
the 80 and 200 million turnover
so many times even the 50 depending on the
progress that we see but I would say that
what also that guides us in the
selection of our targets is just the
change that we can imagine
einstein said that if you can not
claim that the result changes if
keep doing things in the same
so we know
perfectly that if we enter
a company already formed that has ten
fifteen twenty years of history and we try
doing the same things we do
presumably worse than those
there was before us we can only
imagine having a sense of vision
different and then draw the costs mentioned
always spending was a school case from
this point of view because the expenses
the chain is the kind of cinema one
sector with low marginality we leave
we entered it at the beginning of the
2010 if I remember well if there were people at the
cinema
people do not go over Greece things ie
televisions
the behavioral model has changed
there is no technology the big players
were time warner berlusconi with jellyfish
which were all considered activities
an Italian market is marginal
fragmented and we have done instead
another reasoning we realized
that the new generations
they still considered a moment of
aggregation
we realized that some markets that
you realize that 50 percent of the costs
when you go business they are paying the
rights to the majors ie those that you
give the finn
in other words and Italy paid more
of the other paganotti markets of the
France paid more than Germany because
It was a fragmented market and therefore
mediums managed to arrive and to put
in competition you do not buy my movie
because according to you, now I’m doing it
pay I see it from your competitor and you
it creates a problem so the key was
create a critical mass was
our strategy is very simple
we have aggregated two great players
we took 30 percent share of
market
we have invested in technology
so the satellite for the rooms are
empty usually before five o’clock
afternoon so we will play the matches
documentaries for schools on Saturdays
morning from new york
the live opera then better le
it also rises in moments of ancillary for
where the food and accessories we are
enlarged we have become more muscular
lowered the costs at that point from here to
that point we went with the 30 for
a hundred of the market could be gone
from the big cinema providers
Americans have said now that we have
the contract five months four months of
arm wrestling and from that day is
changed and changed the sector in the sense
that we took back the marginality in
Italy that this company was waiting for us
but then everyone else in the wake
so it was the change la
creation of value ie we are not that
we managed the rooms better than the
others
we have changed the paradigm here
this is a case where
it is ours in that case
how do you manage the company
you choose a ceo to put that
maybe have skills in that area
is that we have a vision maybe more
modern look this is a theme
very important for our country that is
the dimension of the relationship and the
methodology in the shareholder relationship e
management
unfortunately this is an Italian limit
he believes that if one does not manage him
something is not worth anything
explains why we have the old ones
generations who never give up
they explain why they do not change these
paradigms because they are not cultured
collected opportunities to reshape
Actually, the shareholder has a role
important that is continuous dialogue of
proposition of goad towards
of management
here we try to identify one
management that can live up to it
to have a dialogue with us at that
level
ok so it’s a role we say further
because in my industry we say tech
start up where maybe there is the
startup that part ago has understood or 0 profits
or maybe the milioncino 2 is understood
millions at that point take sid round
then a round and that is that it grows
gradually the wind typically
capitalist you angel depending on whom
invest puts wheat and then
basically we say go ahead you
manage the you and we hope you
face the billionaire exit instead of you
entry into the merits goes to us we have
this here was one of the motivations
of my trade
the last cycle of which I spoke to you
since 2008 on average companies in this
investment period are more than that
doubled in turnover have
triplicate profitability have
doubled investments have more
which doubled for employment
employment for us is a unit of
important measure but above all we have
strongly embraced this concept of
share vaglio ie imagine that
the company is a fact of everything
there is not only the interest of the shareholder
but there is the interest of the local community
who is you in the company and therefore for?
we value creation is the whole
of things that we want in the end
of the cycle when we go out because this is
our job from investment that
the company is much much better
respect as we found it to
regardless of numbers in fact if there
think about the big problem of companies
technology sees England and if there is
the big criticize the various google
facebook 45 big players why not
it says ok you are very good you make profits
crazy big technologies
but so massacred the ecosystem no
because after all you are only there
the profits make only you end of the
history so there can not be this
kind of long-term approach because
after a while discount remains and other ways
everyone is absolutely needed
also purposely of competitor
on this front other operations
interesting that come to mind
that reporting that now there are gods
particular sectors that you go to
taking it is then interesting companies
let’s say I would reverse 6 when I am
back from hard with michael porter one
of the important things I had studied
it was this anticipation of the big one
datanalysis ie find the analogies between
different things and we are there
specialized on this was one
of the reasons why I decided in the
meaning that he had a different opinion
compared to what you thought at home
management and ownership of the family
so he specialized on it
which sectors the sectors in which
there is more change then today for
retail example
distribution is a source of change
we look at change
I would say that we do not have a recipe or gods
precise targets we look for situations
in which the change of things can
create a cordon of the retail world
because we always talk about amazon
however, saw a presentation
wonderful record of galloway that
what he wrote the four is a
American professor
flow of the slides a week ago
saying and amazing how amazon now
it’s not just retail anymore but to say from
milly point of view is the second
company in the world that invests in
production of content type 5 billion
year advertising is growing by
ugly and incredible like those companies
then they can enter many markets
retail world as you see it in the famous
everyone’s discussion they buy only
online
but it is not true, on the other hand, it goes even then
I remember when I came back first
It was claimed from the United States that
in Italy they would never have arrived i
large shopping centers would not be
never arrived
large retail chains was us
we have the shops we have food
under the house we pinched the law
ass
and then we moved quickly we are all
dead
then in reality you see that there is always a
balance in the sense that then the market
it becomes more and more articulated and has
need all these differentiations
for sure, when we look at companies
in retail we think about what’s coming
called the amazon effect today that is not
this type of quarrel in this product
it can be endangered by this
great logistics capacity e
distribution
so surely there will be great effort
because that also means
an opportunity because for the consumer
prices will tend to fall
I think in the end there will be some
various segmentations this is the answer
there will not be a single solution
also because amazon or at the moment
there is this system amazon fba ido is
in practice you can put yours
products inside and store amazon and then
their fans all the logistics deliver
with first in 24 hours an hour what it is
an incredible stuff compared to some
year ago that is how do you put yourself on
stock so a logistics like this for
which is clear that they are impacting
very strong way
instead
this is a new company in which I have
invested and makes messes of hard work
sweet dallas watches
Well here we are in this area
just come out but frozen brioche
beautiful sector and we have done a lot
good in the sense that we brought a
company that was a good company
familiar to become great in a manner
the frozen food sector is structured
few know when one goes to buy
a cro san
they are not yet those who have it
real pastry behind are very few
the frozen and high-quality product
quality we have invested a lot in the
product quality
we have entered the sweet sector
the only Italian company that had one
direct distribution chain in
compare the points of sale but if you
you ask me what’s left of this
experience therefore a company in which
we have gained in the next
kid but this was born and we have
done something in which we have
I made everyone glad we made
everyone is happy with the local community
because we did a school of
training
together we made a center of
training together with schools
hotels to learn how to do
the entrepreneur and open a small bar
so we worked with the communities
locals
we have redone a site is called
Asolo oven we can advertise
so much now it is no longer ours
so it’s someone else’s wallet
we advertise to third parties but in
excuse me in that case the turning point with the
statue second the turning point was that
to understand that this this model
distributive to go one to understand that
the quality of frozen products is
become extremely high and at the end
even if there is a psychological barrier
in the sum of things it is a
product that can have advantages
just that you think you are once there
fresh brioche you found it at 7 o’clock
morning then it was over now you can
find fresh
the whole newspaper is there all day
you’ve been a lot of technology now
When you do these products
imagine yourself a little like making snow
artificial ie the moisture mix
temperature water temperature
of the ingredients
you must consider that the conditions
let’s call it technologies to do these
products and advanced today in short
notifications or just for scientific you
you can make a constant product of
maximum quality with a lot of machinery
advanced then sum of all
benefits of being therefore the product the
local community that is to live to the full
the company success and growth e
and then share this channel
of direct distribution that allowed
then it allowed us to explore new ones
markets we went to america we are
went to austria we went these if
she market I have been in China three
weeks in March and then I have to go in
india and goods these markets that maybe
you also have a lot of prejudices not
on china or a thousand prejudices then instead
see incredible numbers
who knows in technology a lot of
Chinese tech companies that make a mistake
crazy
which are markets for you
particularly interesting
today if you see on some companies that
maybe you never thought of c
heck the French market for brioche
it was resounding when I saw something
interesting but I think it is
fundamental to have the approach of time
in turn, things change that is evident
that you realize that india is cheating
of the highest level engineers and
it’s an important market and it’s finding
its dimension
the other day I read the newspaper I say
we have arrived at the paradox no, that is
we have alibaba but making a jack
appeal against trump and then a Chinese
who tells an American he looks at the
trade should be used for peace and not for
they look at it is one says but you if someone
he said this thing
ten years ago we estimate and this is the
beautiful in the world and this is the beauty of the
change
nice no in the end things are put to
miraculously placed la cia la
China looked like a culture but because it is
then in the end he does not mind the American one
traditional and inclusive and that
Chinese all these images one
species of great islanders who say we
we are different from the rest of the
world
and then instead things change so I
I think the world of the future is that
just of the continuative dialogue
without reservations with maximum opening then
you know from the numerical point of view i
important markets are those that have us
cited the usual but all companies
what video is seen nor do they exist in maria
in these years what are the ones for you
characteristics where at some point
you can actually say this company
it can make numbers can grow it makes sense
enter this other company maybe
promising but you have some say le
your guidelines your checklist says ok
here now in the parameters kodo this
morning with one with one of the boys
we were talking about invested with one
investment in this we have today
in portfolio that is that in the world of
fashion and I tried to do the bought the ha
bought
I do not remember what parliamentarian bought
to someone and and I said see ours
craft
if we notice when you go type in
these sectors
the truth is that a company is a whole
of balances
otherwise an entrepreneur sometimes us
we see that an entrepreneur is successful
in a given thing at a given time
and then try again ten times not
there is the phase that instead is always the
same person he was convinced he was
rare that someone makes it 3 4 times
rin starting maybe one does it
because he is a great entrepreneur and
anticipate change with moves
extraordinary with moves
I like it discontinuous
call back
and therefore our profession explained
This morning is not so much that of
replace one of these forces that
they create the balance known to you in
a fashion company and you know that for
definition
there is a sort of antagonism e
discussion between what the
product is what makes the production
what makes the production and that of the
commercial and commercial
that of finance because I’m in
objectively opposing these
these are not that of the collection
would like to have all the products of the
world always available and that
of production would like to have a
produced a color a measure is that
of finance would like to have
investments and therefore the trade of one
good shareholder is understand that these
balances are a fact of narco then
what a shareholder needs to do
always that there are always some
balances to recreate inside
so we are looking for this
when we realize that there is stillness
do not change not the opportunity of
grasp what is happening in the
world to insert us and become us
this force of continuous reflection
internal that brings you to the best second
me this many times ends up being
the key to success of all this
online world with all influencers
this is one of the kardashians he has
launched a make up company made 900
million turnover in two and a half years is
practically the recent entries entries to
100 million thanks to 100 million
follower on instagram launch mine
company
I’ve already had the public
agreement, however , manages it with seven
people because all the production is done
externally from the company we say that
he makes the production and the logistics and she does it
promotion part then creates how to say
a business that maybe to do in
competition oreal tahrir as you see it
how this world is impacting in
sectors that months is definitely a world
important is a world of the future
it is certainly not said to have gods
contacts have visibility in short
It becomes easily intuitive intuitive
we are there becoming a system for
communicate and raise awareness of a brand
then replace yourself with the costs of
communication from the other side and then
there will be cases of success, however it is
also true that we see that there are many
cases where this is not enough
because it is not enough we come back to
what we said, that is, they want us
this set of balances that is not
given for which you present I do not know what purpose it has
done because it does not follow in particular
these things, however, it seems to me that also the
daughter of trump is visibly the
brand but in the end he had to stop it
no and it’s not that he missed her
sure certain visibility ferragni i’m
lowering strongly with a personal brand
from which then comes out and shawn business
It’s nice that the story of an Italian dwarf
a month ago I like this I did
a video another day when I am
married two guys faith if the landslide that
I do not know not made a video from
title because in Italy if it happened
you’re an asshole because it’s unbelievable
like the amount of insults that you
pray the boys almost gigantic no
instead, there was a lot of reasoning
simple you can like a pleasure
this is another story but they are two
shaved that they make their companies do
their turnover is certain but what do you want
in the sense it lets work if you do not
they like to follow them and then anyway
they brought in some way
directly or indirectly carry a
Italian case abroad then us
we are a country that goes beyond everything
what we can say what not
we like what we like instead
we are a country of beauty and goodness
I do not see why I have testimonials
that bring these values into form
can be shared abroad or not
being a drama, not even added value
for all you feel three sectors that in
this moment you keep an eye on
especially if there are any
let’s say from wherever there is destruction
change, etc.
But there are some areas where you say ok
this sector here or this topic e
I do not know which drones I am at drones
in the Italian case, I try to look
of
of the salient elements
I think precisely that the beautiful and the good
the ability to distinguish
in short these these elements is one
typically Italian
the technology and therefore the shortening
of the space that exists between those who make one
what and who consumes it is another
opportunity then technology understood
like the chain of value that is
shortens is another element that we
let’s look then I would say that I am a bit
these two elements that we look into
so are the things that are
related to the world of architecture
constructions intended as an aesthetic effect
good and technology are good
that will shorten the relationship you are that
go look for companies or they are the
companies that are close to you or both
Things usually like how it works when
one wants to involve both
I think that in 26 years, especially for the
In short, we are insiders
become the 21 investments that between
little will change its brand
it will become 21 invest because it had
widened the right you are widen to
national exactly to Europe we have
thought of I’m very sorry to put
Italian barriers will be the logo and you
you’re from where it comes 21 no I would not have said
from ping pong when you played 21 but me
he knows it’s not that at 21 it’s going
in the meantime it was the inspiration for the century that
it had to be ok and therefore, if not
has started in 92 rodents in the
beautiful and then I found it ironic in one
world in which all finance used i
Greek Latin names so instead of saying
that was a number because it could be
then discovered that a number that
many meanings you could
I recommend going to see on
wikipedia all the meanings on the
official source of there is something
and then it made me laugh this fact here
that was a number for which finance the
number was different pronounced in all
the parts of the world differently
but that same means cubes ti
tell you why something makes me
always reflect and that often who
let’s say stand on an observatory more
privileged compared to others al
point of view of the opportunities that
information also arrives often
improve compared to others for
make decisions I think about
investments, however, I think the sector
what are your sources of information
daily
how you understand what they are
let’s say the right ways
how do you rate your own market?
concretely what you do opens the courier
in the evening and start reading or then
I open the evening courier and pass it
in speed
I look at the news on the internet more
important but above all do it with the
people because I never know every time
I speak with a CEO with
one of the guys who works at 9pm
investments I put together a set of
information in which more or less for the
end of the day or definitely
learned but I also focused which ones
they are the salient themes of that period
I thought I had some kind of dossier
supersegreti that for para in yours each
day you arrive as a tramp the dossier
the precise that he then says he said
I do not read them I do not have any civic time
the worst cavani for the secret services
in searches from such have invested in
these years more or less in 80 sectors
different
so you image to open yours
team say let’s imagine kim and then everyone
these entrepreneurs we have
in short, he met all that
this generated in terms of
frequentation or my American world
who attended the English one when
I lived in England for which
in short, the network
a book that second is extremely vast
you an entrepreneur should read
I am a lover rather than the curious
I first say what I liked to
I liked to found you nto lunger
charlie munger that the historical partner of
warren buffett has gone out of studies because not
it is written by him but it seems to me to be in denver
in a name like this between very beautiful and
on all cognitive buyers such as
make better decisions in
substance because then to the entrepreneur
decide it and then with it really liked it
long foundation not having a plus and a
booklet let’s say black some say to
costs a lot like 80 euros and not
I said but if 80 euros make you take
of the best decisions that maybe
giving away well spent anyway he is the
my advice, you have a book
particular not worth competitive boasts
strong ie do not give that stuff too
because those are not let me think
because it tells you that it brings out mine
detour I’m thinking
I found a book yesterday no yes
call 21 rules to match the rare
seats then I read you like children
used still the bignami but I read the
first, that is, today it seems to me that that is
a ledger thing I have not read yet
just the others tell you the book that
I will read these theses book galea rare here
think that I would have told you modèles that the
harari precedent which was mere
loved it on technology and
this I have just started and must
talking at the beginning speaks about the whole
fact that there is no longer a story
winning first there is the liberal story
the most communist today is missing
this frank i have to read both
someone sometimes are concepts that
I have to deal with these then
I read them with interest you have me
asked about my children of sport in
reality in children are quite in
focused on various experiences that
the former have already volunteered
work experience the school that
in short, it is a moment of formation
fundamental second
for which some of these readings serve
also to enter more in tune with
they are there at least for which this fact of
how today we experience information as we do
lives this new relationship with the
technology know this detachment also from
reports human relationship seems to me that
this this book dear a riva da in
some way to identify an area
gray that we have not yet defined
in this great revolution we are
living we know all that
let’s see today but the effects
possibly positive or collateral in
time they are known to us because
because then we will adapt everything though
found it funny that the number was
21 and will ask him the rights is a shit
rare, however, Israeli is really a
interesting thinker in pleasure like it
very very quiet but very dry him and
jordan peterson s that I like very much
and he instead 12 that you will want 21 to
the opposite of the Russian you understood it
act on note titles some time ago a
dude but wrote a comment one of the
my nearest hayter wrote a
comment insulting them and saying if you
I had succeeded for really I do not know on
line certainly is not on and if you have
it really happened then that happened
a very personal thing but let’s say i
numbers then online they look and succeed
you really would be in the pool to take the
Sun
and this phase made a lot of weight because
I thought I do not know any
successful person however measured in
any sector that is sporty
the entrepreneur who spends the day in
pool also taken because after that it is
in the pool one day of the days a month
to drink sassicaia after a while
what did you say something that makes me
come to mind surely the beginning
of my career but now I make myself
against that I created great amazement that is
I come back from harvard goldman sachs the
maximum of the blazon of the curriculum
they offer me to dialogue with the family
in the sporting goods sector
then we had bought nordic they had
bought nordica prince and roll blade e
instead it basically has me with the
work done with michael port to
United States advance that there will be this
great change will come great
distribution therefore the strategy must
however, the numbers say that instead
things are fine, so instead
they say no to you but we have the model
benetton will work what from that
nose when I made this arrival the
Your point is practically I made myself
I count that everyone told me that
I was arrogant presumptuously right
I was 26 years old but I obviously had
this necessity
I had this need to look at myself
mirror and know that I had done one
my thing and I wanted to be an example
for my children, that is, you must arrange yourself
but basically
I wanted to try to contribute no
and this for people seemed
impossible but how then can you go
having a safe job is at six
arrived until here is a date
fatigue because then if in my family
it’s not like there was a tradition for it
go to school abroad ie I have
done all alone in quotes with
a good network already protection
obviously, but I did not do it
but it’s just like you say people
he said no no but there is something strange and
even when success comes because
your companies grow because you are busy
more people because things
there is basically a way of thinking
in which to say but who knows how it went to
who knows who helped it?
but instead we understand that the real driver
you know what is the real driver that I in the
I had fun doing all this
I imagine that is the same motivation that
there is but it is so once I spoke with
steve ballmer many years ago and that he
he was in charge of microsoft at the time
he was successful super billionaire e
I asked him a stupid question from
naive with very good is based
we have to invest in this happens in
phases as you know is practically mine
stupid question was a garden estimate
he advertised
I ask him but estimates but who makes you do
knots raised in the morning and he has me
really looked like saying you’re a
idiot child and I did not understand but
instead just at things start going
good but because it’s like saying federer ma
why should you stay in the pool?
sunbathing you are billionaire has
all won, however, what does that
motivation the kobe bryant of before that is
it’s not that it’s finished and you always want one
next challenge then according to me and it is
the only source to improve itself too
because if not, what are you doing is standing there
immobile your typical day like a
part give in the pool but well pool was
evident
but there is not a typical day we say that
little maybe then if at the end I do
a craft having this series of
investee sectors by crossing data
some others I imagine so much
a very basic trip where you are
a treviso to 6 anchored in accordance with a
treviso sila I was going then you know my children
they go to school their children go to school
trevi no now they are going
abroad
the first that is actually according to what it is
male at a high school in america
now I have just accompanied him
and I saw this this I told him
look at six young people at 15 for whom I am
go to america 15 years old I know
gone 18 years ago difference
let’s say that this has been prepared
moggi in order to communicate keep in
contact a little speech however at the end
he said the most important stuff you
I envy you I envy you because I am
some are great experiences
the biggest instead makes classical high school
even if you did the
scientific at 100 million
I am very pleased that I always say that
the ancients in this world of the great
changes can be taught to
find solutions without having points
stop there was what they were obliged to
do I see in her short, this puts
its own scientific mask is drawn
the equations all ste strange
Classical Latin has yet to greek
it is talking a hybrid formula with
English but I think this type instead
of thought infrastructures
few know that in the united states in the
silicon valley begin summarizing
how do you know how to take on again as a matter of fact?
assume in the first time as a leader
in the European companies that are
graduates in philosophy
yes because the technology that changes and the
people and sunbeds together through a
thought somehow superior
not through technicalities because
those change certainly do not mind
so you are also treviso no here
on the fact of treviso I was going ho
seen so many guys when I know
invited abroad that he did
the university where is the quiet circle
they had if I do not break you but the ball
that act calm I go to your life
quiet over goes to take the children to
see absolutely no it was right
this is the dimension with which the
dimension with which I am
grown up no then you can be the
citizen of the world but must have some
roots I remember these that they had
German parent the French mother
they had lived in Switzerland then they were
went from here to there that told him
mature from where their red vain come from
and you need to know where to go
really know where you come from then
this was also an exercise
scheduled if you left today from
zero without a penny
you’re here teleporting the movie parts
just these messes forward and that’s it
it ‘s nothing and it has to start from zero you have to
reinvent yourself in this world here 2019
2020
what would you do but in my opinion each one
we must start from our strengths
what when they ask me when it arrives
someone what you value is evaluated
I left my strengths then
I think a 1 that is Italian
on average it has characteristics
who has seen the beauty he has known
the things that basically does
sympathy around the world and snow of
many Italians in the food sector
for example, now the food sector is
a sector that creates so many many
opportunity maybe I would look at it
that strengths and sectors maybe
Italians who can solution abroad
thank you very much this year
[Music]
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