Julia Chupina personal life. German Gref and his many relatives milk the Sberbank of Russia
site publishes video transcript speeches of top managers of Sberbank of Russia at the “Meeting of Leaders” on March 15, 2016 following a visit to Silicon Valley.
Julia Chupina talks about the innovations of the corporate culture of Silicon Valley companies; Vadim Kulik, - about visiting the Pivotal office; Alexander Torbakhov, - about the technological subtext of Netflix's success; Anatoly Popov - about the Uber office and business model; Victor Orlovsky - on the evolution of unicorn companies; Svyatoslav Ostrovsky - about visiting the virtual laboratory of Stanford and the company Impossible Foods.
Julia Chupina, Senior Vice President, Sberbank of Russia:
Good afternoon, dear friends, dear colleagues. It is a pleasure to welcome you to our traditional meeting of leaders. Today it will be a little unusual with us. We changed the format, because today it will all be devoted to one topic. As you know, the bank has a good tradition to learn everything, including leadership. And recently we arrived after a very full of impressions and new knowledge of a trip to Stanfordthat we want to tell you about today ... I give the floor German Oskarovich Gref, To the President, Chairman of the Management Board, who will begin to talk about his impressions of this trip.
Julia Chupina: Thank you very much, German Oskarovich. I could not resist - yesterday in the night, of course, I drew a presentation, the consulting past does not allow me to calm down. I apologize in advance that some theses will be repeated: we did not agree, because both did it tonight. A few facts about strategy and culture. These are the challenges that remained in my memory - first of all, this is really a change in the model of the banking industry, this is a battle for customer relations, that is, this is our word customer-centricity) already takes on a completely different color, and new business models and management models . German Oskarovich already mentioned - I will not tell in detail, but really for me it was also a complete shock. When we heard that if we started once as a society, with barter, then money appeared, then financial intermediaries, then perhaps all of this will change thanks blockchain. And indeed Bank of Englandmakes an amazing experiment, which, I think, will have big consequences for the entire banking industry. And not without reason 42 largest banks have joined in a consortium R3 and they are also invested together, and each separately, in the development of this technology. And, by the way, our next innovative session will be devoted to this technology.
In terms of the battle for customer relationships: Those startups and many others that are now appearing in Silicon Valley are doing a few things. First: they know everything about the client. That is, at today's and subsequent performances, you will learn more about Netflix, for example, which absolutely fantastically analyzes the customer data that it has. What else do they say: we will save you money. German Oskarovich mentioned, for example, insurance: we were told that the client has inertia. But if you offer him something 10 times cheaper than what is now, he will move on. And there are already whole areas in the financial industry - for example, insurance, which have been exposed to this. Next was a more traditional player, Charles Schwabbut they, for example, also do interesting things. They say: if you are unhappy with our service, we will refund your commission. That is, it is also, on the one hand, unheard of, but then we talked with Sasha Torbakhov and they thought how much such a promise could be fulfilled in retail. It seems to us that it is worth thinking about it.
New business models. Again was mentioned Social finance - a startup that is now attracting great attention: The economist writes about him, invest in him. Why? Because they are trying to get away from this niche of startups, which usually focus on one or a maximum of two products, and build full-scale relationships with customers. Interestingly, look below: “Great News: We" re Not a Bank. ”They say: we will give you all the services 7 days a week - both for lending and for saving your funds, but at the same time we will not charge you extra commissions, and you will be in us much better than with a bank. Our very serious competitor is growing.
You heard about the control model. Indeed, agile is everywhere, and we will continue to talk about it with you, probably for a very long time too. There are large companies and small startups that work in this management model. There was a very interesting discussion with a number of representatives of the venture industry who told us about all these startups, and in the end we could not stand it and asked: tell me, how much time we have, how much more is there? They said: you have some advantage, for example, a large customer base, you have data, distribution channels. But the whole question is who will learn faster: or start-ups will get everything yours — a large client base, distribution, etc. Or you will learn how to quickly make decisions, become technological and learn how to solve problems not by throwing huge masses of people there , and due to the fact that you will use new technologies, move quickly and sometimes partner where you cannot develop it yourself.
Silicon Valley is not a place, it is a way of thinking. It’s not necessary to get to Stanfordto act like the people who work in startups act. This is possible with you and me. We are all creative, we are all innovative. The most important thing is that we release this energy in ourselves and begin to live like that.
Turning to culture ... A few things that I would like to draw your attention to: empathy as a manifestation of emotional intelligence, collaboration and how to promote culture to the masses - because we are really a very large organization, it is important for us that not only the managers sitting here listening to us today, but and all people corresponded to this culture.
Empathy. We all remember that this is the ability to feel what the other person is feeling. We need this in order to work with each other, including in the very agile teams that we will grow at home, and in order to understand what the client needs at this moment, what is most important to him, and in order to make the right decisions and achieve results. Because teamwork must necessarily bring the result for which the team was created.
We had a very interesting professor who said: you know, usually people, especially in the business world, try to operate on facts, today we want to seem rational and speak the language of facts. But very often people are moved by history, because people need not only business results, they need to understand the social significance of what they are doing. And through stories, we are so arranged that we “turn on” much faster. And these stories should not be long. That is, they can be literally 6 words. We were shown how to quickly do this exercise, we will begin to apply it in a training on culture literally tomorrow. And these stories help people to become closer to each other, and the brain starts to work in a completely different way, the intuitive part turns on, then we are open to understanding people, customers, etc. Here are a number of tools: how to develop empathy - we too will learn. Including a story bank: we really liked it. It seems to me that this is something that we can also introduce in the near future as part of the project of culture.
In terms of teamwork, with each other, collaboration. Here, I also really liked the thesis that sometimes, in order for an informal collaboration to work, you first need to use formal tools. And I’ll show you one tool here, an experiment was also conducted with us right there. They asked us to practice asking for help: everyone had to make a small announcement - what he needed, and then other people said whether or not they would give this help. You see here: German Oskarovich wrote that he needed help in order to implement agile in the organization, and a whole series of notes from various managers who offered their help in one way or another. And this was done by each of us. This is also a very simple tool that you can start using tomorrow as part of your team, and it works well.
Accordingly, when there is technology, even if such simple tools are used, when people are open in front of each other to work - another important thing is the space in which we are. Today, it was also mentioned that Cititransplanted the entire manual. This, of course, is very strange - to see the CEO’s office with small partitions from his own secretary, from his deputies ... But really: when it starts with the management of the company and goes on to the whole company ... We were also shown the project of a new office Apple, which is a circle inside which is a zone of cafes, bars where people converge in order to communicate with each other. This is also important, and we will also think about it.
And the last topic was - how to promote culture to the masses. Many important points were suggested. I would probably mention two. First: I will not tire of repeating that culture is not about what we say, but about what we do. And second: if we want the message that we send to reach people, the tools should be simple. For example, examples were given to us there, as in one of the hospitals the nurses were told that if the patient’s bed is set at the right angle, he will have a better condition. Naturally, they forgot all this - until they simply drew a line along which this bed should stand. And no one else had any discussions or questions. So we will need this year as part of the “Culture” project, and with your help, find such tools that will be simple and bring a message to everyone.
I would like to end with another phrase that I really liked: that Silicon Valley is not a place, it is a way of thinking. That is, it is not necessary to get to Stanfordto act like the people who work in startups act. This is possible with you and me. We are all creative, we are all innovative. The most important thing is that we release this energy in ourselves and begin to live like that. I end here and pass the floor to Vadim Valerievich.
Vadim Kulik, Deputy Chairman of the Management Board, Sberbank of Russia:
Thank you very much, Julia ... Before I talk more or less in detail about Pivotal, I would like to talk about my three impressions that I made from there. My first impression: the thesis that we discussed here inside ourselves that data is a new oil is for us more likely a theoretical conclusion, and there it became practical. And Alexander - I will not take away his bread - will talk about how on an almost small puddle of this oil Netflix doing absolutely great things. And it seems to me that the revolution in data has led to the fact that now there is no concept of a process or a product. Because actually extracting meaning from this data allows processes and products to be layered and customized so that it’s very difficult to say - and what is more about the product: this is knowledge of the customer’s needs, its prediction and delivery of this cost, or some kind of boxed decision. In fact, these boxed solutions simply no longer exist. This is the first conclusion.
Second conclusion: I would call it a production culture. This is not only about the culture of relationships in teams, but it is generally a new production process in which people sit in these multifunctional teams in a completely different space, and this is also, in fact, culture. They use completely different tools, this is also a culture of production. At the same time, they have a rather strict execution cycle and quite strict discipline. That is, the freedom of these teams, however, is based on the disciplined performance of a certain rhythm and certain instruments. And this amazing culture of combining freedom and at the same time planned actions and achieving goals - that is, focusing on a goal using tools - this is an amazing conclusion for me that I made.
And probably the third. Almost everywhere we heard this thesis, it sounded like simplicity. This simplification of products and processes before transferring them to a new one ... Actually, before giving these commands to production, you need to rethink processes and products. There are usually a lot of them in old banks. The first time we came across this when we visited Ingand now they’ve seen it everywhere.
In order to become a modern technology company, you really need to have three elements. The first is modern development methods. The second is a modern platform. Platform - this refers to both the software itself and the hardware. And - all modern tools for working with data. Here are three elements that you need to be considered - or we could be considered - a modern IT company. And since almost everything at the moment has ceased to be just manufacturers of aluminum or aircraft - as a friend from General Electric: even in general, in such traditional areas, they understand that they are no longer just producers of a commodity. It's about that.
I, if possible, will finish about simplicity. This is an interesting point: rethinking processes and products is the previous step in order, in fact, to move into this model of production.
And ending with this slide, I can now say a few words about Pivotal. This is a company whose founder is one of the authors of the 12 principles of the Agile Manifesto. That is, this is the one who stood at the origins of the birth of this production system. What was interesting. Interestingly, the first is how much this process is applied to their own production cycle; the second is how much they have been able to abstract the rules from their own experience and, in fact, bring these rules to very understandable, applicable not only tools and start to apply and sell their services as people who help organizations move from the classical state to agile. And in this sense, I was pleased to see that there are those who are able to accompany someone during this transition. And they did this not as an experience somewhere on someone, but an experience on themselves. And it was a very pleasant conclusion for me.
The second - of course, they were obviously very close - since the technology company itself - to an understanding of the relationship between architecture and the manufacturing process. This often sounded to them: a cloud platform, or a software platform that can be transferred to the cloud, modern languages \u200b\u200b... And this is probably such a big question for us: what can pass, what cannot pass. Therefore, their presentation, in my opinion, when you watch it, it will give you, firstly, a part of the answers, but at the same time it will raise questions that you and I have to solve. Actually, probably that's all. I pass the floor to Alexander.
Alexander Torbakhov, Deputy Chairman of the Management Board, Sberbank of Russia:
Good morning, colleagues! I will talk about a visit to the company Netflix. If anyone does not know, the company has entered, among a huge number of countries, Russia, so now you can use its services. Since January, they have been one of the leading streaming services. Streaming is when you watch a movie on the Internet of your own choice, by your own order. And in Russia there are leaders, but nonetheless, I think that the company Netflixvery quickly due to its crazy diverse content it will catch up and, most likely, will become a leader here in Russia as well.
Several indicators. As a matter of fact, they entered the 192 countries literally in January, before that they had been to several dozen countries. They hit the whole world with one huge blow, and today they are in almost the entire civilized world except China, where they plan to go at the end of the year. To make it clear: the company today costs $ 42 billion. Sberbankif anyone doesn’t know, it’s 35 billion. That is, this small group of people, in fact, with one single service is more expensive today than our huge organization. It is clear that the ruble today is underestimated, etc., macroeconomics ... But nevertheless, so that you understand this scale that German Oskarovich spoke about: yes, this is an insane speed, as people have been creating value for less than 10 years ten billion dollars. Actually, these are not my slides, we had 5 presentations from them, and I just chose the slides from their presentations in order to just guide you on what they told us about. And it seems to me that the best table of contents for this story is ... Their strategic priorities, as they see themselves. And, in fact, we will go through these strategic priorities.
First: on the crest of the Internet wave It’s normal to see companies in Silicon Valley that are created as Internet companies. That is, they from the very beginning assumed a business model. And they didn’t tell us about it, I just know myself - Netflix It was actually established in 1997 as a DVD delivery company by mail. It was the market leader in video rental. If you remember, in our metro area there were booths where video cassettes were issued. In the States, people were more advanced, they did not give out videotapes, but DVDs, and did not give out in a booth, but sent them by mail: you ordered them by phone, there was a deposit - a deposit, and they sent you. Here they were the largest video distributor in the United States, founded only in 1997. And then, in 2006, or in 2007, their CEO said: that's it, we're going the wrong way, you need to go to streaming, you need to go to the Internet. And, in fact, modern Netflixas we know him, he was born in 2007: when the company was not yet 10 years old, they decided to go to Internet television. In 2008, by the way, they already closed the mail delivery service and completely focused on the streaming, streaming Internet, streaming video.
Scale. In fact - despite the fact that I am following them - it was news for me, and I know very well ... For example, this series, House ofCards, this is a mega-popular series in the world about how Washington works, how the top political power in the USA works. They say a chic series - I myself did not watch it ... It turned out that this production Netflix. That is, the last few years Netflix It is not only engaged in the procurement of content from major copyright holders and the provision of this service to its customers, it is also engaged in the production of content. And today they produce already produce 300 hours of content per year, and it is clear that on the rise. Especially having the success that happened with these series, it is clear that they will do this further and more. Well, and, in fact, you saw the coverage by country: 192 countries - this, of course, cannot but impress.
Netflixtoday worth $ 42 billion. Sberbankif anyone doesn’t know, it’s 35 billion. That is, this small bunch of people, with one single service, is today more expensive than our huge organization ... This is an insane speed, as people create tens of billions of dollars worth in less than 10 years
Further to technology. German Oskarovich has already said, for me this is also the biggest revelation from the trip: as far as all companies are actually already unambiguous ... Bankers still make a few reservations - probably for regulators, just in case. But companies like Netflix They are no longer making reservations, and the choice is clear for them: no data centers of their own, only public clouds. Before us was their technological leader, and he showed a table Gartnerwhich puts Amazon today is the undisputed leader in the provision of a public cloud for consumers.
In fact, they chose ... use the services Amazon. And he took some time to debunk several myths. He said: there is a myth that clouds are expensive. He claims that they managed to reduce the cost per unit of consumption by 85% compared with if they used their own proprietary data center. And shared some lessons. I will not try to retell it now - to be honest, not a big expert in cloud technologies - but what I learned: initially, the entire architecture of the company should be built under the cloud, the production of all applications should be done under the cloud, and, in general, the entire technological culture of the company should built under the cloud. The presentation is more detailed, I will not stop here.
And as for the data. Several times, colleagues have already announced: it’s clear that the whole Netflix - it’s that when you open netflix.com- you can open it in the application on the iPhone, you can open it on AppleTV - and you see the start page, selected for you. Here, in general: the whole company works so that you look at this page and choose something on it. It’s clear that all this revolves around working with data, and it’s interesting how people talk about it. They say that ... In general, since the whole business is about data, it’s not that some kind of specialist sits and engages in data in some corner, but it’s culture, and not just culture. This is a culture turned into an organization, turned into the skills of a large number of people who know how to work with it. And it is from top to bottom, from bottom to top, from right to left and from left to right. That is, the whole organization is about it. And this is not about some individual wiseacres somewhere out there, at some address posted.
The principles are very interesting ... We last visit to Stanford They heard about it, I just like it so much, this HIPPO principle, that ... They brought it too, and I repeat it with pleasure. Hippo is short for “hippo" in English, but it is an abbreviation. This abbreviation means the highest paid person’s opinion, that is, the opinion of the highly paid employee, in fact, of all of us who are here. That is: the highest paid employees of the bank are here. And as you know, we all often like to “talk”, we love to express our opinion, and we do it with such a serious look that our subordinates have no chance to not then perceive this speech as the ultimate truth. Such companies as Netflixfight it, and they consider it a big evil. Because any, even highly paid, employee is a living person, as German Oskarovich has already said: he can be driven by emotions, different emotions at different times. And he is most likely mistaken. Therefore, data is king, and everything else, including hippos, is, in general, really harmful. And the whole culture stands around it.
The second very interesting story is evolution of their customer service. They came from talking to customers and, in particular, talking through ratings. They asked clients to "rate" what they already saw, and now they have refused it. I asked why they did it. They said that the client is again a living person, the emu also often seems not what it really is. Therefore, it is necessary, in fact, not to ask customers, but to carefully monitor what he is doing. And therefore, in this evolution they have come to the point of observing the client: how the client behaves, where he throws the movie, how much he wanders around the page in search, what he watches, what his friends watch, etc., there are thousands of parameters that they are watching.
Well, and A / B testing. Again, I hope that everyone here already knows this ... Instead of arguing for dozens of hours on the topic - what is right, “A” or “B”, in fact, in companies, including technological, created an environment where people try. There is always a valid “A” solution, and it always has a competitor. This is called the champion challenger concept, when there is always a competitor who is competing, trying to beat the champion, trying to make a better decision. It is clear that this includes technological solutions: relatively speaking, at the same time — let's say these are the same customers — one client will see one picture, and the second will see the second picture, and it will always be compared, which response is better .
Actually, evolution is presented here: starting from the rating and beyond, complicating and complicating everything. Now they have come up with contextual recommendations based on processing a huge amount of information. This is the same picture that very “moment of truth", as they call it. They call this “Moment of Truth" because the client usually does not spend more than 90 seconds on it. And he either leaves somewhere in this content, selects something to watch, or leaves. And, in fact, that’s why it is called the “moment of truth”, because either the panel either disappeared, the company does not have much time to communicate with the client.
It is again mentioned here that the company tries thousands of innovations per year - such A / B experiences. And the architecture implies the possibility of this testing ... In fact, everything was done only so that people who are already doing this could create, implement new technological concepts. This is absolutely easy for the company. Well, and culture, of course - is the essence of what is happening there. They recommended to us ... For them, this is a landmark book: Patrick Lensioni, a well-known author who - I have not read, to be honest - as I understand it, cultivates feedback. It is interesting that we had a debate, we debated several times on the topic: is it possible or impossible to give a negative relationship, including a strong negative relationship? Does this not destroy a person, his essence, etc. They said: of course, yes, and it is just impolite not to give a negative connection: if you see that something is wrong, and at the same time keep silent. Therefore, in this company the feedback culture is at the forefront, and here is this constructive criticism that is regular and open - invite the critic to it, issue this criticism; it is clear that this should be done in a digestible manner - this is done perfectly in the company. At least as they say.
Well, the authority and responsibility that they give people: everything is also based on the fact that it is impossible to coordinate all this on dozens of committees. Responsibilities are given to people, and people experiment very quickly, give results very quickly - or lose and honestly sort out mistakes and understand why this happened ... Thank you very much! I pass the floor to Anatoly Popov.
Anatoly Popov, Vice President and Director of the Department of Organization of Retail Services and Sales of Sberbank of Russia:
Thanks to Alexander Yuryevich! .. Uberin Moscow for a little over a year now. Are there any clients of this company here? ... It is surprising that, as German Oskarovich said, and what struck me: a company that still has negative cash flow already has a capitalization of $ 60 billion. That made me at least think seriously. And the replicability of the business model is amazing: there are already 300 cities, although the company was founded in 2009 in San Francisco. And in San Francisco, the last 2 months, the municipal taxi company, the main carrier, just ceased to exist, because it could not stand the competition with this business model. And the business model is quite simple: the product should seem like magic, it should be convenient and affordable.
And this, in particular, was confirmed by my story: when we Glory to Ostrovsky decided to ride on Uber in the San Francisco area and ordered ... But as always, with Uber there is one small problem: you have to “aukat” a little longer with the driver, because the driver is not local, he came from somewhere, he came on the map, he doesn’t know exactly what place you are talking about. But when we got into a wonderful car, clean, big ... Then I just compared another client experience in a municipal taxi - when you get in, I apologize for the expression, in such a long, long American buick ... And we drove off. We drove about 30 minutes, it was necessary to call in several places - they paid 25 dollars. We decided to go back ... we asked to order a taxi - we drove for $ 50. That is, the company was able to build such a business model that has excellent service and is 2 times cheaper. This is what distinguishes those new, innovative products: they will not only be 10% cheaper, 5% cheaper and more convenient - they are 2 times more convenient and 2 times cheaper. This, of course, makes this a breakthrough of such products on the market.
What are colleagues doing? Firstly, they seriously work with BigData, analyzing virtually all the clicks of all their customers. This is their separate focus of work in order to understand: how to make the client order a taxi in 1 click. The second is, of course, development speed, that agile, which I will dwell on a little more. My colleagues manage to release the application once a week, because it ... They say: we would love to release more, just Apple cannot load so often; we would be ready to release a new application every day, but we release it once a week. And at the same time - a reliability indicator of 99.95. And, of course, the most important thing is the orientation towards culture and values \u200b\u200bwith the widespread decentralization - which struck and what we will talk about. And, of course, the most important thing: focus on both the client and the driver. The thesis that the owner of the company said is very simple: if the drivers are unhappy, then we will not have a business. We need to do more than just ... Well, as we are talking about a happy employee, they say that we must make a happy driver, we must make a business convenient for him.
Scenario analysis - this is how to ensure that at the right time, in accordance with the expected peak load - when customers are traveling from the Center, I don’t know, out of town, or somewhere on business — so that the required number of cars is in place. Great attention is paid to this: points of orders, concentration are determined. And you know that in Uber there is a dynamic pricing: those who, in fact, use it, know that it’s now at peak hours ... Here colleagues nod their heads, they are surprised that it can sometimes be cheap, and sometimes it is more expensive for some reason. But there is still no choice, and you have to order. Actually: what does Uberwhat is working on. This model does not just allow you to use ... An average car carries 1.6 passengers per day on average; it turns out 5.6 passenger trips per day. If the model is working Uber, then this is 72 passenger trips per day.
Speaking about the future and moving on to those cars that will drive themselves - here Ilya Strebulaev already told that he drove there, from Palo Alto to San Francisco in a car that he was driving on the highway, and they did not touch the steering wheel. That is, if a year ago this was talked about as the future, now it is already a testable present. It is clear that the car is not yet moving around the city, but this is the near future. That is, in fact, those people who treat the car as a means of delivery from point A to point B, they don’t care about color, brand, luxury, prestige or any speed characteristics, they just need from point A to point B ... We we’ll go down to our garage in Sberbank, see 30 cars of the same color there, get into any one, and it will deliver you to the point that is needed. I think that it is not our children who will see it - we are lucky to see it. Car sharing is a big future. Food delivery is already clear. Here Uber tests new business models - just like in Turkey between the Bosphorus, the drivers of these boats that move along the Bosphorus also use Uber.
Agile. I understand that many colleagues are involved in development. I think it’s useful to see some of the principles that apply, and we were lucky to learn about these principles. Fundamental principle: there are two types of teams - infrastructural and engineering. That is, companies that develop products and companies that improve infrastructure. And they work almost independently. 9 places around the world - the location of engineers, there is no single project manager. That is, not a single person in the company, not even CTO itself, said he: I don’t know exactly which project is being implemented where, and this is a certain discomfort, but on the other hand, I know that we have a good team and they’re unlikely doing something bad. Not a single person sees ... There is no coordination superstructure over the teams.
And it is very important that the team itself is responsible for the quality in the preparation of the product. And as a result, there is no release. About 70,000 mini-updates occur in the system per week, and the teams do not use any centralized software in order to carry out project management. And teams do not use some kind of centralized software. Each team chooses its own software, which it considers necessary in order to achieve its goals. And they do not have the so-called software for project activities, which some companies use. Twice a year there is a rebalancing of resources, the company redistributes projects. And thus - moving forward. Thanks! I pass the floor to Viktor Mikhailovich.
The main thing is culture. I wanted to emphasize one phrase: culture keeps the company on the border between order and chaos. And everything else is convenience, accessibility and magic.
Viktor Orlovsky, Director of the Management Board of the SBTV Fund I venture capital fund Sberbank of Russia»:
Hello, friends! Thank you colleague for the interesting presentation. Today I’ll tell you about ... Unicorns is a private, non-public company, which investors valued at $ 1 billion or more in one of the rounds, usually in the last round. I am sure that you all know a large number of companies that are here on the slide: Stripe - German Oskarovich Told about him, several companies ... Here is the company Palantir- it was one of the first "unicorns" in the field of big data analytics ...
Who remembers how it all began? And it all started quite recently. The first companies with valuation in a private, non-public business worth more than $ 1 billion appeared in January 2011. And now - how it all continues now. You see that the number of “unicorns” companies in the world is growing sharply, and here it’s even difficult to show on the graph this cloud of “unicorns”, which appears in the world in 2014-2015. I am sure that this trend will only continue. Where is the place of "unicorns" in our world? This is how the slide at the end of 2014 looks like: all the “unicorns” in the world are placed, in terms of their valuation, between Appleand Google. In fact, at some point in time, in 2015, I saw a slide similar, but, unfortunately, with worse analytics: the sum of all the “unicorns” in the world already exceeded in value the valuation of the largest company in the world Apple.
Let's go further. Who feeds the unicorns? Unicorns are fed by venture capital funds. These are the 8 most successful venture capital funds, and I think that it is not only a matter of luck. Of course, you need to guess, of course, you need to feel which company to invest in, which not. Nevertheless, the best companies, the best funds have certain, as you see, competencies in investing in the best “unicorns”. As we see, for example, a company Sequoia capital - one of the largest funds - nevertheless missed the largest "unicorn" to date, about which Anatoly spoke, - Uber. Therefore, nevertheless, there is also a bit of luck here. By the way, an interesting fact: the company Lyft- the second largest carrier a la Uber in America, about 20 times less than a company Uberappeared in Silicon Valley earlier than Uber.
The onslaught in this market, as I said, only intensifies. And if you look at the funding schedule, that is, how much “food”, how much money is given to “unicorns”, is given to all companies with venture capital in the valley - and without exception, all “unicorns” are funded by the venture capital business — we will see that the amount of money is growing, the amount transactions in 2015 fell slightly compared to 2014. And this means that individual companies began to receive even more money. The law of degrees in action: you all know the law of power. If you look at the valuation of unicorn companies, we will see that the 10 largest unicorn companies have a total valuation of almost 50% of all unicorns in the world. And the interesting thing is that in 2015 the company Uber received more money in the round than all the other "unicorns" in the world. That is, the same law of degrees applies in the case of funding in late rounds. There is more and more money in the late rounds, this is a trend. Unicorns will also become more and more.
Interestingly, if you look at Exit, that is, the sale of these companies to either public companies or private - there are all Exit without exception - you will see that companies that sold on the market with a valuation of less than 50 million, 54%. Companies that, in fact, are unicorns, in total in Exit a little more than 3%. That is, in fact, this is an illusion, an illusion created by the press - that all companies "survive" to a billion dollars. A large number of successful companies go out of business, as a rule, with profit, at much earlier stages.
You understand why these companies are called "unicorns." Unicorn. My first question was: who saw him? Very, very rare animal. This is how the graph of the proportion of startups who became “unicorns” invested in the early stages looks like. It is believed that outside 2009, these are companies that are already mature in the market. So, among the successful mature companies, only 1.28% of the start-ups that got the round in 2009 are today “unicorns”. You see: 2012 is 0.25%. There are no companies that for some reason left the market: either they were bought at an earlier stage by larger players, or ceased to exist. It is known that more than 80% of startups, unfortunately, die without ever reaching the exit.
Well, and ... Colleagues who want to become the owner of the "unicorn", please raise your hands. Thank God, at least 5% of the hands. You can take advantage of such a unique resource as Sharespost, the address is. Each of you can purchase shares of the “unicorn”. Usually these are small packages that are sold by employees who happen to be hosting from a so-called option. So you can try to ride the "unicorn". I wish you great luck in this. Many thanks! I invite to the stage the Glory of Ostrovsky, who will continue the story.
SvyatoslavOstrovsky, Director of Bank XXI, Sberbank of Russia:
Here in this room we were the whole team. This room is unusual, around it there are about 24 cameras, about 60 columns around the perimeter. The floor vibrates, that is, there is special equipment that makes this vibration. In the center is a helmet that a man puts on. And, accordingly, in that closet there are about 20 computers that provide rendering of the picture and reproduction of everything that you see there. The whole team we managed to try it personally. And here - maybe it’s not so clearly visible, the room is just dark — Julia Germanovna “flies” around the city, German Oskarovich is trying to stop her in this reality, but she is already in a completely different place. Everyone tried some different demos, but I want to say that the sensations are absolutely amazing. That is, you really, if there is ... When you immerse yourself in it, you don’t feel what is happening around you, you are completely “there”.
And the scope ... For many of us it seems: this is for video games, now everyone will play video games. But in reality this is not so, the scope is much wider. For example, I participated, that is, my presentation was ... I played a role, my virtual avatar was an African-American woman. And, accordingly, there was a white man who said all sorts of offensive things. And this is used, among other things, to feel, empathize with such people and see what really happens and discover some kind of different social aspects. It is used for education, it can be used to train phobias or get rid of phobias, that is, fear of heights, flights, etc. That is, the scope is much wider than we imagine.
What is noteworthy: this laboratory was created for 7 years, and about 200 thousand dollars were spent on equipment to do this. So, this spring the company’s products are already coming out Oculus is a company owned Facebook, and company product HTCVive. For $ 700, this equipment will be available to each of us in fact this spring. And this is not some area ... This is probably the main conclusion for me, including: this is not a question of some future. That is, technologists are changing much faster than we can realize this, than I personally realized it. Because for me it was the prospect of several, 3-5 years. In fact, this is happening now.
Second company Imposible Foods, which produces a completely unique product - minced meat, meat products - from plants. And this is a completely unique technology. She came to us to present Patrick Brown, President and CEO, Professor Stanford Universityas well as bioengineer. The guys are such biohackers, they were able to reverse engineer the components that make up the meat. And this juice, which - we all think that this is blood - is not really blood, but water mixed with a protein called myoglobin. It is this water that gives the meat a characteristic smell. Accordingly, when the meat is cooked, all this sensation can be absolutely - as Mr. Brown says - recreated using plants. The company received 180 million investments, has already patented this technology in dozens of countries. Now they produce 300 kg per month, but in principle they plan that they will produce more. Here. For me personally, the main conclusion is here ... Maybe many will not agree, someone will not eat, etc. But: any of the most classical industries, even such as livestock, agriculture and meat processing, are subject to technological changes, that happen. And it’s not even the fact that these people are striking ... They may not be successful. Maybe they will fail, maybe they will be a very niche product. But it’s amazing the insolence with which they do it in Silicon Valley. And this insolence, this is such a sobering shower for me personally, and he is very invigorating. Thanks! I pass the floor to German Oskarovich. German Oskarovich, please! ..
As Kommersant learned, Sberbank President German Gref has a new adviser - former VTB chief strategist Yulia Chupina. In Sberbank, Ms. Chupina will be engaged in corporate culture, the formation of which is devoted to a significant part of Sberbank's development strategy until 2018. In addition, the experience of Yulia Chupina will undoubtedly be useful to the bank in the preparation and implementation of a new code of corporate governance, which the government requires from the bank.
The fact that former VTB chief strategist Yulia Chupina went to work at Sberbank as an adviser to the head of the bank, German Gref, was told to Kommersant by several sources in the banking market. According to one of Kommersant’s interlocutors, recently, Mrs. Chupina has been German Gref’s corporate culture adviser and oversees the relevant unit. “She will be involved in various programs for motivating employees, introducing Sberbank's value system, increasing labor productivity,” Kommersant continues. “It is likely that in the future she will completely oversee HR and will enter the bank’s board.” According to another Kommersant interlocutor, the status of an adviser gives Mrs. Chupina the opportunity, in addition to these areas, to participate in other aspects of the bank’s life. “Now the work on the new corporate governance code of the bank, which required the government to develop, is in full swing,” Kommersant continues. “It should be submitted to the Supervisory Board for approval in November.” Recall that the government demanded that 13 companies with state participation, including Sberbank, begin September 1, 2014 to implement the provisions of the corporate governance code approved by the government on February 13 (see Kommersant on August 12). Codes brought into line with a government directive should be applied by companies as early as 2015.
Until recently, Julia Chupina worked in the head bank of VTB Group, where she oversaw the department of strategy and corporate development. She was also a member of the VTB board. Yulia Chupina left VTB in July this year (see Kommersant on July 23), considering her mission to develop a development strategy until 2017 was fulfilled (approved by the VTB Supervisory Council in April). According to Kommersant’s information, almost immediately after leaving VTB, she received an offer from Sberbank, but was in no hurry to accept it, citing a desire to spend more time with her family. The press services of Sberbank and VTB declined to comment. Kommersant failed to contact Yulia Chupina herself yesterday.
Yulia Chupina from 1998 to 2003 worked at the Moscow representative office of McKinsey & Company. From 2004 to 2009, she worked at VTB, also being responsible for corporate governance. In 2009, motivating her departure for personal reasons, Ms. Chupina left the bank in the status of deputy chairman of the board. For four years, Julia Chupina was engaged in independent consulting. In 2013, she accepted the proposal of the head of VTB, Andrey Kostin, to return to VTB, entered the bank’s board and oversaw the development of the group’s development strategy until 2017. She finally left VTB in July 2014.
Former colleagues of Mrs. Chupina in the VTB group officially declined to comment on her transfer to Sberbank. However, in an informal conversation, some of them noted that at VTB Yulia Chupina was not able to fully realize her potential. "The proposals coming out of it to optimize costs and reduce the number of staff met rather stiff resistance from the key top managers of the group, despite the fact that the leadership posed this task. She prepared a strategy, but in such circumstances did not begin to implement it," - says one of the interlocutors of Kommersant.
According to experts, the arrival of Yulia Chupina is very timely for Sberbank. “Now Sberbank is in the process of implementing a new strategy until 2018, part of which is devoted precisely to the formation of a corporate culture, the development and increase of employee involvement,” says Artur Shamilov, head of the Board of Directors of TopContact. “Such a specialist as Julia Chupina will be very useful for the bank in this direction , and, in addition, as a specialist with extensive experience in the banking sector, she can be useful to Sberbank in other areas as an adviser. " According to him, in this case it is possible to talk about a coincidence of interests: Julia Chupina always had an interest in the direction of corporate culture, and the head of Sberbank German Gref just attaches great importance to this issue, probably this was an important argument in favor of accepting the proposal Sberbank.
The largest Russian state-owned bank works for the benefit of the branched clan German Gref.
As it turned out, in the first half of 2016, the state bank tripled its net profit to 263.1 billion rubles. This figure provided a profit of 12.2 billion rubles. from the sale of 96.9% of the shares of NAO Krasnaya Polyana. But anti-corruption fighters say that Gref is using his position to help relatives. For example, in the spring of 2009, the son of German Gref from his first marriage, Oleg Gref, took the post of vice president and became a co-owner of the NEO Center consulting group.
The office was accredited with Sberbank to provide services for the preparation of technological expertise, monitoring and auditing of major investment projects with state participation. Gref’s beloved sister, Elena Peredriy, wife of Sergei Peredrii, the former vice-governor of Primorye, is also a banker. Recently, Primorye Bank disclosed the shares of its shareholders over the past year, and Elena Peredriy had 6.21% of its shares (a controlling stake was in the former first lady of the region Larisa Belobrova). Sergei Peredrii himself left the civil service as well - Aktsiya and Air Catering were registered in his name in Primorye.
Note also the niece of the state banker - Eugene. The elder brother's daughter, having moved from Omsk to the capital, was spotted as a project manager at the Krasnov-design company. After that, the company organized a number of corporate events for the bank. And for Olga Tyshenko (daughter of a sister, born in Primorye), a position of chief specialist in working with personnel was found in Sberbank.
German Oskarovich also does not forget about his brother. The head of Sberbank invested 500 million rubles in his brother’s business when Yevgeny Gref almost lost his business in the midst of the global financial crisis of 2008. Eugene Gref concluded a minimum of 70 transactions with Sberbank! Now Gref's older brother is a famous Omsk businessman. He is the owner of the Technosofia retail chain (seven in Omsk and the region), co-owner of the Siberia-Ceramics network, the Geomart shopping center (cash & carry, 4200 sq. M), and the Letur shopping complex (about 3000 sq. M. m). And in the region they say that Nazarov helps the administrative resource to Yevgeny Oskarovich.
By the way, in 2010, the Geomart hypermarket chain, owned by Eugene Gref, acquired four stores of the bankrupt Mosmart chain in Kuzbass. The main creditor of Mosmart was Sberbank. Gref’s wife, Yan Golovin, is also not sitting idle. 2004, Yana Golovina, together with the wife of Deputy Prime Minister Dmitry Kozak Lyudmila and the wife of State Duma deputy Vladimir Pligin Nina, founded LLP Gift Studio LLC (the main activity is retail sale of accessories). Probably, the business did not work out, because already in 2006 the company was liquidated.
Already in November 2005, Yana Golovina created her own company ZAO Dar.ru, which was engaged in "retailing works of art in art galleries." The partner of the wife of German Gref in this business was Oleg Scherbakov, Vice President for Corporate Property of JSC Sitronics. Moreover, Yana’s mother - Tatyana Golovina, from the end of 2008 suddenly headed the sanatorium in Gelendzhik - “Rus”, which belongs to the Sibnefteprovod company of Tyumen’s “daughter” Transneft. Since 2008, the sanatorium Rus has transferred its accounts to Sberbank! Match or rollback?
And the security forces will ask?
On the sidelines they say that law enforcement agencies still have evidence by which they can plant German Gref. For example, for the privatization of the St. Petersburg palace of Prince Gorchakov on Bolshaya Monetnaya. For more than nine years, the Nadezhda center has been located in this building, uniting 29 organizations of elderly people. Then Gref ordered the privatization of a historical monument of federal significance. The old men, as in the case of the “historical homeland of the German settlers,” were relocated to three rooms in a neighboring house.
Another case concerns the proceedings around JSC “Color Printing Plant”. Gref, in order to plant his man as the director of AO, issued an appropriate order. The former director appealed to the prosecutor's office, but in the end it turned out that the plant was not completely legalized privatized. The first deputy prosecutor of the city suggested the KUGI "immediately review the privatization." The prosecutor was immediately dismissed. It should be noted that at the beginning of 1998, Gref, without conducting competitive bidding, transferred the Haymarket to the commercial center Peter, which also controls Apraksin Dvor and Trinity Market. One of the competitors of the director of Peter, Nikolai Ponomarev, told the authorities that he had information about a bribe of 600 thousand dollars received by German Gref. Gref did not even have time to interrogate how an overly talkative competitor was found in his porch with a shot head.
Sberbank Raiding?
Speaking about asset seizures, it is worth recalling a raider attack on one of the largest Russian manufacturers of energy equipment, Energomash. Some journalists and social activists emphasize that the legitimate owner of Energomash, Alexander Stepanov, was imprisoned in fact in the interests of Sberbank. It is also worth recalling how the largest industrial holding of IARC became the next victim of Sberbank-Capital. As a result of this attack, the head of the IARC, Viktor Makushin, had to flee the country, fearing arrest for an illegally instituted criminal case. Note that the court of Cyprus did not allow the extradition of Makushin to Russia!
The Sberbank Banking business with the Altex group in Nizhny Novgorod, which became bankrupt, owed 600 million rubles to a financial institution, seems to be doubtful. By the way, a criminal case was instituted against the head of Alteks-group of companies Andrey Gorodnov. Recall that last fall, German Gref was staffed. The new adviser is former VTB chief strategist Yulia Chupina. Note that previously Yulia Chupina worked in the head bank of VTB Group, where she oversaw the department of strategy and corporate development. She was also a member of the VTB board. Her name is associated with a series of raider seizures of VTB Bank.
Corruption?
Recall the high-profile case of extortion by managers of the Central Russian Bank Sberbank 100 million rubles. businessman Konstantin Vachevsky for non-repayment of a loan of 700 million rubles. The case allowed the public to learn about the new corruption schemes used in this bank. For example, a whole pattern of “kickbacks” was revealed through the Cypriot offshore Zytec Limited, controlled by Sberbank employees.
The most unpretentious story of “cutting” is the “rebranding” of “Sberbank”, when, having slightly changed the bank’s logo (the circle has bent) and the brand’s color to saturated green, the bank’s management spent about 20 billion rubles. In May of this year, it became clear that Sberbank, having discovered the scheme for cashing out the capital, deducts it to pay off loans. So, the state bank wrote off 20.4 thousand rubles from the personal accounts of two residents of Gorno-Altaysk. and 156 thousand rubles. accordingly, in repayment of their loans debts. After that, the non-payers (they have a loan to Sberbank) turned to the local prosecutor's office, indicating that the funds written off were material capital.
“In accordance with the law, maternity capital funds are earmarked and can be used for the purposes stipulated by the law, among which the fulfillment of credit obligations does not appear,” the Altai prosecutor’s office concluded and submitted to the bank a statement on elimination of violations.
But Sberbank does not give up. The Pension Fund of Russia took his side. “After the target service has been paid, the funds lose their status of capital and become“ just money, ”” the FIU summed up. Recall, and the case of mid-2013. Then the investigators proved the extortion by managers of the Central Russian Bank Sberbank of Russia 100 million rubles for non-repayment of a loan of 700 million. Acting as an intermediary, the top manager of Sberbank Andrei Zorin received four years in prison, instead of the desired eight million for his services.
The fact is that the investigators proved that in June 2012, Mr. Zorin entered into negotiations with businessman Konstantin Vachevsky on the liquidation of his debt of 700 million rubles. Vachevskikh took a large loan from Sberbank for the needs of his company, but could not repay it in time. Sberbank appealed to the court, and in February 2010 the appeal court of the Moscow Arbitration Court granted all claims for debt collection under a loan agreement.
But to recover from the company of Konstantin Vachevsky "Sberbank" failed, because it went bankrupt. Then he was offered to pay off the debt with the help of a “rollback”, which, according to the investigation, amounted to 100 million rubles. At the same time, the intermediary Zorin demanded another 8 million from the debtor for his services, and at the beginning of August 2012 he turned to the FSB - soon all the persons involved in the case were detained in turn.
Market participants also recall that in the 2008-2009 crisis, the state bank borrowed 500 billion rubles from the Central Bank for 10 years at 8.5% per annum, that is, it chose the maximum amount of subordinated debt that the state bank can receive from the main shareholder. However, already in 2010, the president of Sberbank German Gref warned, in fact, blackmailed the Central Bank that if the rates on the subordinated loan did not drop below 6%, the bank would partially return it, which was done!
The State Bank can convert this money either into a “perpetual” subordinated loan, extending it for 50 years with the possibility of further prolongation, or into preferred shares. In general, lending for 50 years actually means not getting the money back. Sberbank has a high level of corruption, as in the country. And it seems that German Oskarovich is primarily thinking about his relatives, and not about the fight against corruption. There is only one thing for civic activists: when will law enforcement agencies check Gref for a conflict of interest when granting loans to his relatives?
Political correctness takes its toll even in conservative Russia. More recently, the business press peered into the thick wallets of Russian oligarchs and called Mikhail Prokhorov the richest man in the country. Apparently, in order not to offend the ladies, on the eve of March 8, a list of the 50 most influential business women of the Russian Federation was published.
The authors of the rating from the magazine “Finance” called it the first such list, based on the consideration of objective factors, and not on the subjective opinion of the respondents. This allowed us to avoid a situation where the top lines are occupied by promoted in the media, but not very influential in reality figures. The creators of the list tried to take into account not only the scale of the business, but also the personal contribution of each participant in the rating to its development.
Predictably enough, the first position was taken by the wife of the mayor of the capital, Elena Baturina, the president of Inteko and the most famous manufacturer of basins and chairs. Her personal fortune is estimated at $ 1 billion. Russian billionaire loves horses, tennis and litigation by journalists. By the way, in the overall ranking of the Russian rich, she took 45th place.
In second place is the former queen of juices and compote Olga Belyavtseva. More recently, she owned the third largest stake in juice producer Lebedyansky, which controls 305 of the Russian juice market. Having successfully sold its shares, Belyavtseva brought her capital to $ 330 million.
The third on the list is Natalia Fileva, the main owner of S7 Airlines (Sibir). Together with her husband, she has so far successfully fought off attempts to merge her company with Aeroflot or Rosavia. She is the CEO of S7.
The fourth is Tatyana Kuznetsova, who heads the legal department of Novatek and owns a small stake in it. Personal fortune - 150 million dollars.
The fifth line was occupied by Lyudmila Pinkevich - co-owner of the Nastyusha grain company, which plays a key role in the system of forming Moscow's food resources.
Most of the remaining 45 positions (see the full rating option below) were taken by top managers of large Russian companies. The owners of companies and large shareholders are represented to a lesser extent in the ranking.
We add that the publication of this top list on the eve of March 8 gives the expression “dear women” an especially multifaceted sound.
1
Baturina Elena Nikolaevna
Inteko
2
Belyavtseva Olga Alekseevna
"Progress
Capital"
3
Fileva Natalia Valerevna
S7 group
CEO, major shareholder
4
Kuznetsova Tatyana Sergeevna
Novatek
Shareholder, Member of the Board
5
Pinkevich Lyudmila Vatslavovna
"Nastya"
Co-owner, Deputy Chairman of the Board of Directors
6
Mikhailova Lidia Ilinichna
Group
Cherkizovo
Shareholder
7
Moldazhanova Gulzhan Talapovna
"Base
element"
General manager
8
Ilyashenko Galina Igorevna
"Seventh
continent"
Chairman of the board
directors
9
Blagova Elena Evgrafovna
"Volzhsky
pipe factory "
Managing director
10
Franus Tatyana Dmitrievna
One of the founders of Pyaterochka and Carousel networks
11
Alenkina Lena Vladimirovna
Tsaritsyno
12
Paramonova Tatyana Vladimirovna
Transcreditbank, ZHASO
Chairman of the Board of Directors of the bank and insurance company
13
Naumova Olga Valerevna
Severstal-metiz
General manager
14
Khasyanova Gulnara Shamilyevna
Skylink
General manager
15
Rudyak Margarita Alexandrovna
Ingeocom
Group co-owner
16
Pleshakova Olga Alexandrovna
Transaero
Shareholder, CEO
17
Plaksina Olga Vladimirovna
IFD
Kapital
Chairman of the Board
18
Khoba Lyubov Nikolaevna
Lukoil
Shareholder, member of the board, chief accountant
19
Mirimskaya Olga Mikhailovna
"Russian
product"
Shareholder, Chairman of the Board of Directors
20
Ryasova Ksenia Evgenievna
Ruveta OY (Finn Flare)
Owner of company
21
Slutsker Olga Sergeevna
World class clubs
Owner of company
22
Razumova Irina Stepanovna
"Planet
Fitness"
Owner of company
23
Karpel Elena Evgenievna
Gazprom
Shareholder, Board Member
directors
24
Chupina Julia Germanovna
VTB
Deputy President - Chairman of the Board
25
Anikina Elena Romanovna
Onexim
Vice President
26
Pavlova Olga Petrovna
Gazprom Neft
Member of the Board, Head of Property Management and Corporate Relations
27
Barbasheva Elena Igorevna
Onexim
CFO
28
Shmatova Elena Alexandrovna
VimpelCom
Executive Vice President, CFO
29
Dergunova Olga Konstantinovna
VTB
Corporate executive
30
Matveeva Irina Arkadevna
MGTS
Board Member
31
Aglyamova Galina Aleksandrovna
NLMK
Shareholder, Vice President of Finance
32
Gryadovaya Olga Viktorovna
Transcapitalbank
Shareholder, Chairman of the Board
33
Bazhaeva Madina Vakhaevna
NK "Alliance"
Shareholder
34
Agapova Nina Fyatekhovna
Tsaritsyno
Shareholder
35
Sukhorukova Elena Viktorovna
NPF "Welfare"
Executive Director
36
Parshina Raisa Nikolaevna
"Far Eastern Transport Group"
Chairman of the Board of Directors
37
Messerle Elena Stanislavovna
BTA Bank
Chairman of the Board
38
Sheludchenko Olga Sergeevna
Rigla
General manager
39
Savina Evgenia Valerevna
S7 group
Deputy CEO
40
Pupkova Tatyana Alekseevna
MDM Bank
Deputy Chairman of the Board
41
Metlenko Nina Mikhailovna
IPBK
Ochakovo
Shareholder, Vice President of Economics
42
Lutsenko Natalya Ivanovna
GC "Commonwealth"
Shareholder
43
Azimina Ekaterina Valerevna
Baltika
Vice President Finance & Economics
44
Klimova Elena Nikolaevna
Holding
Exima
First Deputy CEO
45
Vorobyova Natalya Olegovna
Natalie Tours
Owner of company
46
Sidorok Galina Ivanovna
NMZHK
Shareholder, Member of the Board of Directors
47
Rustamova Zumrud Handadashevna
MMK,
Polymetal
Independent Member of the Board of Directors of MMK
48
Goldin Anna
AFK Sistema
Vice President, Member of the Board
49
Partasova Natalia Yuryevna
"Agromashholding"
The president
50
Minnekhanova Gulsina Munirovna
Tatenergo
First Deputy General Director - Director for Economics and Finance