· David Senra, Alexander Taubman
[00:00:00] S0: We just use it over and over again. [00:00:00] S1: The other great motto that I love on this point is from Danaher, who was a big inspiration to us also, the Rales brothers, is their motto was, "Common sense rigorously applied." [00:00:00] S0: Yeah, it's excellent.
· Alexander Taubman
[00:00:00] S1: And so that's kind of what we do too. If you can take some of the world's best AI engineers, and they can sit with your team members, understand the problems, and we can use common sense to fix them, it makes Nexus better. So Nexus now integrates better with all those various systems. And each different industry needs different things. So for example, in HOA management, it turns out a lot of the work is done in email. So you're taking in emails from homeowners and boards and responding, and they're complex emails. It'll be like, "What's going on? We need to find a snow removal company." And so it's not just a simple response. You actually have to go map out, "Here's the 10 other communities we manage. Here's the five vendors. Here's what they charge you. Here's how people reviewed them. Here's the schedule." Then you might need to actually send an email to the vendor, get schedules, and then respond. That email could take 45 minutes, or an hour or longer to actually craft a thoughtful sort of response and proposal. If Nexus has access to all that information and can draft an email for you before you even wake up in the morning, you have a draft in your inbox to respond with a 99% accurate, and then you can just edit it as the manager. So now instead of spending an hour, you spend five or 10 minutes putting it in your own voice. And by the way, the voices are getting better and better now. This is something we're working on to each of our managers now can have Nexus drafting emails in their own voice. And so this is like a capability that we built for HOA management, but is now applicable to every other business. Turns out pretty much every business works a lot in email. Travel, for example, 55% of travel agent inbound queries from travelers is in email. New bookings, changes, cancellations, it's all in email. So because we solved that problem in HOA management, Nexus is now better, has this tool built in. It's going to day one have a huge impact in Amex GBT, and I could give you 10 other examples of this.
· David Senra, Alexander Taubman
[00:00:00] S0: Has anybody tried to buy Nexus as a separate tool? [00:00:00] S1: You know, it's funny. Because we haven't been very public, not a lot of people really know about what we're doing, but a lot of our investors have asked us, "Can we partner to use Nexus?" And maybe for them we would do it, but we've never wanted to sell software. First of all, software obviously is a great business. We partner with tons of software companies in all these industries and with the labs, et cetera. But the problem with selling software is you don't actually care about what happens in the outcome. So for us, we're very outcomes-driven. We want to really actually change the way these businesses operate, change the way these industries actually function. And to do that, you need to be an owner. You need to really be an owner-operator. And so taking Nexus, taking the AI breakthroughs that are happening at the frontier, deploying them into the businesses for real outcomes, i.e., faster growth, better customer experience, better team member experience, being able to pay your team members more because they're more productive, and then ultimately, to your point, shareholder returns, that's what we're focused on. And I think the vertical integration of owning your own platform and deploying it only into your own companies creates a lot of alignment.
· David Senra, Alexander Taubman
[00:00:00] S0: We've talked a bunch about all these other "Founders" episodes, and I love that part of your onboarding at Long Lake is listening to specific episodes of "Founders," which I think obviously is fucking genius, but I'm biased on that. But I think this is, because I think, again, especially like on the investor side, it's like, "Oh, yeah, let's just sell the software." It's just like, well, I go back to like Larry Ellison. I've done like, I don't know, six episodes on him, and he has this great line about this. He's maybe the best in the world at understanding this. He's like, "It's not a software problem, it's a human problem." [00:00:00] S1: Yeah. [00:00:00] S0: It's like, there's no point in me selling something if the way you work doesn't change. It's like, then I can't build a good business around that. And it's like, okay, so how do you get over the human problem? Well, you own the goddamn company. You control the workflow. [00:00:00] S1: It's interesting because a slightly non-obvious thing with this is we don't actually force anyone to use our tools. So owning the company is really valuable in a lot of ways, but not because we force people to use the tools. [00:00:00] S0: That was Larry Ellison's point. You can't force them. [00:00:00] S1: If we have to force someone to use our Nexus platform, then the platform's not good enough. We take an approach of the customer are our team members, and we're now going to have 30,000 team members operating globally across all these sectors. And so- [00:00:00] S0: Wait, explain this to me.
· David Senra, Alexander Taubman
[00:00:00] S0: Wait, explain this to me. [00:00:00] S1: We're 30,000 people working at- [00:00:00] S0: You said your customer are your team members? [00:00:00] S1: Yeah, we think of our team members, and we now have 30,000 of them globally, as our customer. [00:00:00] S0: Okay. [00:00:00] S1: And so the whole idea is we want Nexus to be so magical- [00:00:00] S0: 30,000 employees- [00:00:00] S1: Yeah [00:00:00] S0: ... in the businesses that you own? [00:00:00] S1: That's right. [00:00:00] S0: Okay. I have to always convert. I love you, but you're like an East Coast finance guy, and I always have to convert the way you talk. [00:00:00] S1: We think of them as partners, design partners, and that's our customer. And so the whole idea is we want it to be so magical that when you introduce the tools to them, it goes viral inside the company. And we've now seen that. And it's happening where as the models get better, as our products get better, and as our deployment playbooks get better, we're seeing the cohorts of adoption going crazy. Like it used to take us like maybe, I don't know, six months or something to activate a cohort. Now it's like you give them the tools and in like days. [00:00:00] S0: And wait a minute, hold on. Am I understanding this correctly? So you're targeting these services, so let's say HOA management, right? And let's say I work there, and now I'm using Nexus and all the other tools that you guys are building, right? And we'll talk about how you got elite technical talent too, right? My job is now fucking 90% better. That also protects you for retention.
· David Senra, Alexander Taubman
[00:00:00] S0: And wait a minute, hold on. Am I understanding this correctly? So you're targeting these services, so let's say HOA management, right? And let's say I work there, and now I'm using Nexus and all the other tools that you guys are building, right? And we'll talk about how you got elite technical talent too, right? My job is now fucking 90% better. That also protects you for retention. [00:00:00] S1: 100%. [00:00:00] S0: Because like another HOA service company doesn't have these tools. [00:00:00] S1: Yeah. [00:00:00] S0: I'm going to go over there- [00:00:00] S1: And it would be horrible. [00:00:00] S0: Work 90% more?