- 16 hours ago
The biggest risks and the best trades in global commodity markets start at the first mile, where crops are grown and raw materials are sourced. Yet this is precisely where visibility is weakest: official data arrives weeks or months late, fragmented across geographies and agencies, and too aggregated to act on. Treefera is building the AI-native intelligence layer that closes that gap, fusing satellite imagery, weather signals and proprietary models to deliver yield, production and supply-risk insights at field level, ahead of the market. In this conversation, co-founder Caroline Grey and AlbionVC discuss how first-mile data is reshaping who wins and loses in commodity markets, as traders, banks and supply-chain operators race to price risk in an era where waiting for official data is no longer an option.
Category
🤖
TechTranscript
00:00All right. Hi, everyone. My name is Paul LeHair. I'm a partner at Albion VC. We are a London-based,
00:10early-stage VC with over a billion under management.
00:13We back visionary founders, and we love data and AI companies, and we originally led the Series A round just
00:22over two years ago in Trifera,
00:24because we were very excited by their vision of building the AI platform for first-mile intelligence and supply chain
00:33resilience.
00:33But we'll talk a bit more about Trifera shortly. First, I'm delighted to be joined today by Caroline Gray, co
00:42-founder and CEO at Trifera.
00:45By way of introduction, before co-founding Trifera, Caroline had an amazing journey as an operator.
00:54She was last chief customer officer at UiPath. And with that, welcome, Caroline. Let's dive in.
01:02So I guess the first question I wanted to ask you, like I said, you've had a fantastic career to
01:09date before joining, rather, founding Trifera.
01:13Trifera, could you tell us a little bit more about it and what it was like joining UiPath quite early
01:19on?
01:19I think it was just after the Series A, right until the IPO?
01:23Absolutely. It was a mixture of both very, very exciting and very, very exhausting at different times,
01:30but an experience that's life-changing, and I feel very fortunate to have gone through it.
01:35I actually joined, well, I worked as an advisor to UiPath pre-Series A, and then joined full-time as
01:43an operator,
01:44and had, because of the fast-growth nature, and bearing in mind the, you know, the founding team,
01:51Daniel Marius had worked since 2007 to actually develop the company.
01:56And we really had our pivotal moment around 2016 when DHL, we'd worked very hard on some product
02:04and identified that we had screen scraping technology that was enabling them to,
02:11rather than use humans, to use this screen scraping in order to fill out the parcel address labels
02:18that they send on all of their packages around the world.
02:21So that was sort of one of our big breaking moments.
02:24And we also rebranded to call it Robots Software, which also had a massive upside to our journey.
02:32But ultimately, what I can say to you is it was incredibly exciting.
02:35Your job changed every matter of weeks rather than months or years,
02:40due to the nature of the high-growth, high-octane level of the company.
02:45And also, it was just quite fascinating seeing companies...
02:51I mean, we're now seeing it on a whole different level now, since 2017 to 2021.
02:57But what we did see is this whole growth of exponential growth,
03:01of where you're selling quite small pieces, small transactions,
03:06but they were just multiplying.
03:08And one fun fact that I'll give to you is in January 2017,
03:13we were selling a robot for $800.
03:16We did a price increase three times by September to $8,000,
03:21and we didn't lose a single client.
03:23So I think then we absolutely knew we had product-market fit, which was very exciting.
03:28Yeah, that definitely means you have product-market fit.
03:31And so after, obviously, that kind of a great journey,
03:35and having had also kind of the exit with the IPO,
03:38many people maybe would look to rest,
03:42some maybe even kind of retire or work as advisors or move to the investing side,
03:46what made you kind of become a founder and doing it even the harder way?
03:54Yeah, I think you sort of go in a few paths.
03:58And any founders here will know that feeling.
04:00One, I think it's quite addictive.
04:02You know, when you work in companies,
04:05then, you know, and you see the success,
04:08then I think it becomes quite addictive to build and scale companies.
04:12So that was a factor.
04:13But I definitely did take, I took, I was intending to take a year out,
04:18but actually took about just under nine months,
04:21but did lots of things around traveling,
04:23the usual things that we all do after an IPO.
04:27But then the big thing, I think my business partner,
04:33which we'll get to later,
04:34but my business partner also had this compelling,
04:37overriding passion about the fact
04:39that we could influence the flow of capital
04:41and the new technology of how it was progressing
04:45between satellites, AI and compute
04:48meant that we were in the perfect storm where we felt it was ready.
04:52And then the other factor, I think, was just a general passion.
04:55I'm a great believer that we all need a little bit of love,
04:59a sense of purpose,
05:02and a little bit of hardship in our lives.
05:04So those three things sort of compelled me to the fact
05:08that I wasn't yet ready to retire
05:10and hang up the non-commercial, non-scaling business boots.
05:14And as you've seen, Paul, I sort of love it,
05:17but I'd say it's an addiction.
05:19Yeah, no, great.
05:20I'm glad you didn't retire for sure.
05:23And so obviously you kind of started touching on it,
05:26but what was the story behind the genesis,
05:29the creation of TreeFair?
05:31How did it start?
05:32Well, Jonathan, our founder,
05:35was working at JP Morgan running global risk and AI
05:39and had $27 trillion running through reconciliations per day
05:45running through a platform
05:46to really look at risks and predict risks around all of the assets.
05:50But they were finding it.
05:51They were also starting to buy and invest
05:53in lots of what we call nature-based assets,
05:55so high-level amounts of commodities
05:59and things around general carbon as well as soy,
06:03all of the nature-based commodities that grow on the ground.
06:07And he saw they had a massive gap,
06:09and therefore for him it was a compelling thing to say,
06:12now the technology is enabling us to do that.
06:15I want to start it.
06:16From my point of view,
06:18I have a background in scaling businesses
06:20and growing and really expanding and go-to-market.
06:23So that combination was we decided actually the time was right
06:27and let's go for it.
06:30It wasn't an easy decision
06:31because we know obviously going by experience,
06:33anyone, again, founders here will know
06:35it can be a very difficult journey,
06:38but it was also so compelling
06:40that we thought that the time is right to do it.
06:42Yeah.
06:43And so you now kind of position, I guess,
06:47the company and the product
06:48as the kind of AI-native, first-mile intelligence platform.
06:54Could you, I guess,
06:56help the audience understand what it means?
06:59Yeah, absolutely.
07:00I mean, what we do,
07:01the thing that's super exciting
07:03and what we get a lot of traction on
07:04is we are using satellites,
07:07which we believe are still a very underrated
07:09and undervalued asset
07:10and what is becoming a commodity, really,
07:14with regard to the number that are being launched.
07:16And it's a lot thanks to the space leaders
07:18that have developed this space,
07:21combined with the cost of compute decreasing
07:23and, of course, the compelling nature
07:26that we all now AI is.
07:28The reason we are a deep tech AI-native business
07:32is that we are actually assessing
07:34what's actually happening on the ground,
07:36what we call in the first mile,
07:38so we can actually now get down
07:40to a sort of 2.5-metre grid box
07:44and tell you exactly
07:45what's happening to crops and commodities,
07:48not just from a climate,
07:50weather and climate point of view,
07:51but also from a land practices
07:53and phenology point of view.
07:55So it gives traders,
07:57gives supply chain buyers
07:58and gives project developers
08:01a real first-hand, real view
08:03of what's happening to their assets
08:05or their investment
08:06for them to make decisions.
08:08Yeah.
08:09And maybe, I guess,
08:11following up on that a little bit more,
08:13there are obviously, you know,
08:14maybe other companies
08:15leveraging satellite data
08:17or some kind of incumbents also.
08:19What would you say makes
08:20Trifra unique and different
08:23versus those?
08:24I think it really is the fact
08:26that we're still the only company
08:28that can do location discovery
08:30at this small grid level,
08:32which sounds quite easy in one sense,
08:34but it's actually very, very complex to do.
08:36And we're also the only company
08:38that are able to bring
08:39this pattern of things together.
08:41And our whole purpose
08:43is to serve it up
08:44into understandable,
08:46discoverable and trustworthy insights
08:48for traders and hedge funds
08:49to make a decision
08:50on whether they're going to make
08:52a multi-million dollar trade.
08:53So companies like Cube use us.
08:56For companies like Buyer
08:57to assess when they want to harvest
09:00or when they want to look
09:01at their seed growth or plant,
09:02which is obviously, again,
09:04billion dollar decisions.
09:06The same with Nestle
09:07of them looking at their cocoa
09:08and when to buy
09:09or when to hold on to it supply,
09:11as well as then companies
09:13like Anu and Microsoft
09:15who buy up huge amounts
09:17of carbon assets.
09:18So that really is quite a big,
09:20you know,
09:20it's a very regulated business decision
09:23they're making
09:24that ties a lot of money to it.
09:26And what we do
09:27is we're able to serve up
09:28a very accurate
09:29or comprehensive assessment on it.
09:31Right.
09:32It's good because you start
09:33answering my next questions
09:35every time.
09:36I'm never very good at this.
09:37That's perfect.
09:38You, you know,
09:38help me do my job.
09:40So, but I guess, yeah,
09:42I wanted to also ask you a bit more
09:45because there are kind of
09:46different types of customers,
09:47you know,
09:48both financial services,
09:49supply chain,
09:50like maybe tell us a bit more
09:51like the type of customers
09:53you work with,
09:54you know,
09:54what sort of use cases,
09:56the value that they get,
09:57you know,
09:58from using kind of Trifera.
09:59Yeah, exactly.
10:00Well, I sometimes say
10:02we're three businesses in one,
10:03which I'm never sure
10:04if that is a good or bad thing.
10:07But we,
10:08as I said,
10:08from a trade,
10:09we serve up a market
10:10intelligence solution,
10:11which is an out-of-the-box product,
10:12which enables traders,
10:15whether they are in big hedge funds,
10:17whether they are individual traders,
10:18whether they are traders
10:19in supply chain organisations,
10:21but to make an active decision
10:23whether they want to buy
10:24or sell into a commodity.
10:26And ultimately,
10:27typically,
10:28the performance of our models
10:29are so good,
10:30we serve up that insight.
10:32It can be up to six months
10:34prior to them
10:34seeing a typical market
10:37moving signal.
10:38So it really is
10:39a very high value for them.
10:42Secondly,
10:42we have a risk intelligence product
10:44or solution,
10:46which drives,
10:47so for example,
10:47US bank are using us
10:48to look at all of their loan base.
10:50So when they provide credit
10:52to an agri-forestry asset,
10:54they will use TreeFairer platform
10:56in order to assess the risk
10:58and price that asset.
11:00And then we have organisations,
11:02like I mentioned,
11:02in Bayer,
11:03that looks to decide
11:04when they will.
11:05They obviously own
11:06the Monsanto,
11:08the big seed company,
11:09so this is a multi-billion dollar business,
11:12which they will decide
11:13on harvest days
11:14versus growing days
11:16versus planting days
11:17based on the data
11:19that we provide them.
11:20And then finally,
11:21we have, as I said,
11:22companies like Microsoft
11:23that have a huge portfolio.
11:25They've invested,
11:26they're the largest investor
11:27in carbon assets
11:28and credits
11:29across the world.
11:30And so what TreeFairer does
11:32enable them to manage
11:33their various stakeholders
11:34around the world
11:35utilising the TreeFairer data.
11:37So it does have numerous
11:38but very high value
11:41points for them to make.
11:43Yeah.
11:43And one that I thought
11:45was also really cool
11:46recently is,
11:48if you don't mind me sharing,
11:50I think you guys
11:51were able to predict
11:54the price
11:55or the trend
11:56of a particular
11:57kind of commodity
11:59before kind of legacy,
12:01more kind of legacy
12:01or traditional
12:02data sources
12:03would have kind of predicted
12:04where it would land.
12:05Like, I was wondering
12:06maybe if you could share
12:07a bit more about that
12:07or how you guys did that.
12:09Yeah, exactly.
12:10And that's all about the signals.
12:11So we're using our AI models.
12:13One of the things
12:13I should have probably pointed out
12:14to our TreeFairer,
12:15we've gained a lot
12:16of ground truth data
12:17over the years.
12:19So we've poured in
12:19a lot of data
12:20that really helps
12:21and obviously that data
12:22is owned by customers
12:23but we have,
12:25they've allowed us
12:25to train and calibrate
12:27our models
12:28and so what this does
12:29is this enabled us
12:30to build proprietary models
12:32across our business
12:33but they are very,
12:34very good
12:35at providing
12:35very accurate trends
12:38and what we're using
12:39is really the fundamentals.
12:40So recently
12:41we're very good
12:43for example
12:44at predicting
12:44whether India
12:46may stop
12:47or change
12:48the legislation
12:49around their coffee
12:50and cocoa supplies
12:52and the reason
12:53we can do that
12:54it's not because
12:54we've got a direct line
12:55to Modi
12:56or anything like that
12:58it's the fact
12:58we look at the fundamentals
13:00of what happened
13:01historically
13:02when these price
13:03changes happened
13:04and what we can see
13:05the trends were
13:06that made the government
13:07make these decisions.
13:08So we incorporate
13:09all of that
13:10into our modelling scenarios
13:13we do a lot
13:14of cleaning up
13:15and a lot of moving around
13:17to then provide
13:18a very, very clear signal
13:19to the users
13:20of this data
13:21and insight.
13:22Yeah
13:23and also
13:25one thing
13:26that we thought
13:27was fairly special
13:28and unique
13:29about you
13:30is that
13:31although you were founded
13:32and you know
13:33still have your HQ
13:34in London
13:35you pretty much
13:37straight away
13:37had customers
13:38across the globe
13:39you know
13:40countries
13:40even continents
13:41I was wondering
13:42whether that was
13:43kind of deliberate
13:44or how you went
13:44about kind of
13:45international expansion
13:46because that's
13:47quite unusual.
13:48Yes
13:49it was very, very deliberate
13:50and I think
13:51it's probably down
13:51to experience
13:52I mean
13:53as people know here
13:54the
13:55obviously the markets
13:56when we were at
13:57UiPath
13:57the
13:57our actually biggest
13:59largest
13:59fastest growing market
14:01for
14:01up until
14:022019
14:04was actually Japan
14:05which is quite unusual
14:07for a lot of start-ups
14:09and also
14:10and we were actually
14:11a bit behind
14:11when we were coming up
14:12to YPO
14:13in the US
14:14and America's market
14:15so we had to do
14:16a lot of
14:16catching up
14:18so one of the things
14:19we purposely set out
14:20to do in TrueFera
14:21is to obviously
14:22look at the market
14:23and just because
14:24we were
14:24a UK
14:26headquartered company
14:28we recognised
14:29obviously market sizes
14:30and where the markets
14:31happen
14:32so we made
14:33concerted effort
14:34to build out
14:35client bases
14:36in those markets
14:37that really make
14:38a difference for us
14:39with regard to our growth
14:40so that we were
14:41quite quick
14:42to develop
14:42a global footprint
14:43that has its challenges
14:45in the hires
14:46that you make
14:47and also being there
14:48and the travel schedules
14:49and all of that
14:50but it's been a really
14:50good decision
14:52Great
14:53now maybe
14:54moving to
14:55more personal topic
14:56if that's okay
14:58I think
14:59people may not know
15:00that your
15:00sole co-founder
15:02and the CEO
15:03of the company
15:03is also your
15:04husband
15:05which we've seen
15:07sometimes
15:07work well
15:09or not always
15:10super well
15:11but maybe
15:11could you tell us
15:12a bit more
15:13about what it is
15:14like to co-found
15:15a company
15:16with your
15:16life partner
15:17and maybe
15:18any advice
15:18for people
15:20that might
15:20want to consider
15:21that
15:22Absolutely
15:23so if my
15:24husband were here
15:25or Jonathan
15:25my co-founder
15:27here today
15:27we would have
15:28different views
15:30so I'll just
15:30tell you that
15:31straight away
15:31so we are
15:32as you know
15:33we're very
15:33opposite
15:34in our
15:35styles
15:35and strengths
15:36and weaknesses
15:37and I will
15:39say
15:39coming from
15:40experience
15:40of scaling
15:41starting up
15:42and scaling
15:43previous
15:43companies
15:44as anyone
15:45knows
15:46it's really
15:46really hard
15:47sometimes
15:47with founders
15:49and co-founders
15:49so I was
15:50actually quite
15:51nervous
15:51to initially
15:52get involved
15:54but what we
15:55found
15:55is
15:56you know
15:56the strengths
15:57of this
15:57partnership
15:58the fact
15:59that
16:00we actually
16:01have very
16:01complementary
16:02skill base
16:03which was
16:04kind of a
16:05surprise
16:05you know
16:06my strength
16:06is very much
16:07in the
16:07go-to-market
16:07space
16:08he's very
16:09much in
16:09the strategy
16:10and technical
16:11science
16:12and technical
16:13because we
16:14have a lot
16:14of scientific
16:15we scale
16:16a lot of
16:16science
16:17in Trifera
16:17which is
16:18quite difficult
16:18to do
16:20and what
16:21we've found
16:22I would say
16:22the good
16:23points
16:23is I think
16:24fundamentally
16:24there's a
16:25very good
16:25trust
16:26between each
16:27other
16:27and we
16:27also
16:28very early
16:28set out
16:30the roles
16:30and responsibilities
16:31I would
16:32advise that
16:32as being a
16:33key thing
16:34about where
16:35our operating
16:36lanes are
16:36and what we
16:37influence
16:37versus what
16:38we don't
16:39so I think
16:40we've been
16:40very good
16:41at that
16:41I'd say
16:42the downsides
16:43are that
16:43initially
16:44it's incredibly
16:45hard to
16:45switch off
16:46so you end
16:47up
16:48I mean when
16:48you start
16:49a company
16:49anyway
16:49it's a
16:5024-7
16:50thing
16:51but it
16:51really is
16:52like very
16:53full on
16:53so we've
16:54definitely
16:54evolved
16:55our
16:56working
16:57relationship
16:57to sort
16:58of
16:58when we
17:00leave work
17:01when we
17:01make a
17:01very
17:03purposeful
17:04decision
17:04to remove
17:05the noise
17:06of what's
17:06going on
17:07at Trifera
17:07and to
17:08have a
17:09personal
17:10relationship
17:10as well
17:11so there's
17:12definitely
17:12learnings
17:13from that
17:13and then
17:14other sides
17:15of course
17:15like anything
17:16there are
17:16ups and
17:17downs
17:17we disagree
17:19I'd say
17:19on numerous
17:20occasions
17:20but I think
17:21that's okay
17:22he comes
17:23from a
17:23farming
17:23background
17:24so was
17:25always in
17:25family business
17:26so for him
17:27it doesn't
17:27it doesn't
17:28really matter
17:28I think
17:29I probably
17:30found it
17:30harder than
17:31he did
17:31but then
17:32now him
17:32working with
17:33me he
17:33probably
17:33finds that
17:34harder
17:34we still
17:35have the
17:36normal
17:37discussions
17:37and debates
17:38about I
17:39always want
17:39more product
17:40from a go
17:40to market
17:41point of
17:41view
17:41he always
17:42wants us
17:42to sell
17:43to the
17:43product
17:43so there's
17:45all of
17:45those
17:47typical
17:48founder
17:49co-founder
17:49things
17:50and relationships
17:51but fundamentally
17:52I think
17:52there's a
17:53massive
17:53plus
17:54that I
17:55think
17:55you do
17:55have that
17:56trust
17:56and I
17:57think
17:57as long
17:58as you're
17:58you need
17:59to be
17:59independent
17:59of thoughts
18:00and I
18:01think we're
18:02both very
18:02agreeable
18:03the fact
18:03that we
18:04can
18:04disagree
18:05agreeably
18:05but also
18:07we are
18:07fundamentally
18:08founders
18:09of the
18:10tree
18:10fairer
18:10entity
18:10so
18:11as weird
18:12as this
18:12might sound
18:13that absolutely
18:14comes first
18:14and we
18:15recognize
18:15in our
18:16challenges
18:16to each
18:17other
18:17we're
18:18looking
18:18after the
18:18business
18:19because we
18:19employ
18:2060 odd
18:21people
18:21we have
18:22investors
18:23so
18:23and we
18:24want to
18:24make sure
18:24we give
18:24them a
18:25good
18:25return
18:25so all
18:26of those
18:26things
18:26are
18:27fundamentally
18:27have to
18:28come
18:28first
18:28as well
18:29yeah
18:30no you
18:31guys are
18:31definitely
18:31super
18:32complimentary
18:32which is
18:33always
18:33something
18:34we
18:34look for
18:35in
18:35co-founders
18:36so thanks
18:37for sharing
18:37that
18:37maybe also
18:39on scaling
18:39obviously
18:40you had
18:41a few
18:42references
18:42to
18:42UiPath
18:44already
18:44it was
18:44interesting
18:45what you
18:45said
18:45on
18:45international
18:46expansion
18:47and
18:47Japan
18:48any
18:49other
18:49learnings
18:50maybe
18:50takeaways
18:51that
18:51you
18:52brought
18:52from
18:53your
18:53UiPath
18:53experience
18:54and also
18:54on the
18:55other
18:55hand
18:55maybe
18:55any
18:56that
18:56you
18:56saw
18:57didn't
18:57apply
18:57from
18:59UiPath
18:59which
18:59were different
19:00yeah
19:01there's
19:02many
19:03learnings
19:03but I
19:03think
19:03the
19:04first
19:05one
19:05is
19:05nothing
19:06is
19:06linear
19:06I
19:07often
19:07tell
19:08the
19:08story
19:08UiPath
19:09is such
19:09an
19:09amazing
19:10success
19:10story
19:11for those
19:11of you
19:12that haven't
19:12heard of
19:13UiPath
19:13we
19:13IPO'd
19:14on the
19:14market
19:14at
19:1442
19:15billion
19:15in
19:16April
19:162021
19:18and it
19:18still
19:19strikes me
19:19now
19:20I still
19:20get
19:20goosebumps
19:21because
19:21it's
19:22very
19:23fortunate
19:23to
19:24go
19:24through
19:24that
19:24journey
19:26but
19:27we
19:27with
19:28that
19:28it
19:29was
19:29not
19:29linear
19:29we
19:29had
19:30three
19:30occasions
19:31where
19:32we
19:32were
19:32nearly
19:32going
19:33bust
19:33weeks
19:33and
19:34sometimes
19:34days
19:35away
19:36COVID
19:37had a
19:38massive
19:38turnaround
19:39saving
19:39moment
19:40for us
19:40because
19:41our
19:42cost
19:42base
19:43overnight
19:44with regards
19:45to the
19:45working at
19:46home
19:46no more
19:46free
19:46delivery
19:47lunches
19:47there were
19:48many
19:48things
19:49that
19:49became
19:49a
19:49benefit
19:51and
19:52we
19:53also
19:53then
19:53had
19:54a lot
19:54of
19:54clients
19:54that
19:54suddenly
19:55went
19:55online
19:55and
19:56they
19:56wanted
19:56the
19:56robotic
19:56software
19:57so
19:57our
19:57sales
19:58cycle
19:58increased
19:58significantly
20:00so
20:00that
20:01was
20:01a
20:01big
20:02learning
20:02both
20:03from
20:03the
20:04journey
20:04is
20:04not
20:04linear
20:05so
20:05you
20:05do
20:05take
20:06the
20:06highs
20:06and
20:06the
20:06lows
20:07and
20:07I
20:07try
20:08to
20:08enjoy
20:08them
20:08that
20:09isn't
20:09always
20:09the
20:09case
20:10but
20:10I
20:10again
20:11recommending
20:13I'm
20:14still
20:14in
20:14touch
20:14with
20:14a
20:14lot
20:15of
20:15key
20:15people
20:15from
20:16UiPath
20:16and
20:16we
20:16always
20:17say
20:17enjoy
20:17these
20:17moments
20:18the
20:19other
20:19thing
20:19I
20:19think
20:19I
20:19learned
20:20is
20:20people
20:20and
20:21culture
20:21is
20:22so
20:22so
20:22important
20:23as
20:24we
20:24scale
20:24and
20:25particularly
20:25now
20:26I'm
20:26seeing
20:26even
20:27more
20:28I
20:28mean
20:28I
20:29literally
20:29look
20:29at
20:30time
20:30in
20:302021
20:31UiPath
20:32as
20:32one
20:32of
20:32the
20:32most
20:32progressive
20:33technologies
20:33in
20:33the
20:33world
20:34and
20:34I
20:34now
20:35look
20:35at
20:35things
20:35and
20:36I
20:36myself
20:36and
20:37I'm
20:37sure
20:37everyone
20:38else
20:38in
20:38this
20:38room
20:38is
20:39absolutely
20:40stunned
20:41and amazed
20:41at how
20:42the last
20:4212
20:43months
20:43the
20:43technology
20:44has
20:44changed
20:45brought
20:45about
20:46by
20:46AI
20:46very
20:47significantly
20:47but
20:48I
20:48think
20:49this
20:49has
20:49really
20:49now
20:50evolved
20:50my
20:50lesson
20:51from
20:51UiPath
20:51and
20:52here
20:52at
20:53True
20:53Fairer
20:53is
20:53very
20:54much
20:54how
20:54important
20:55your
20:55team
20:55and
20:56the
20:56people
20:56you
20:57hire
20:57are
20:57we
20:58had
20:58to
20:59make
20:59tough
20:59decisions
20:59so
21:00in
21:00UiPath
21:00we
21:01didn't
21:01make
21:01as
21:01many
21:01tough
21:02decisions
21:02early
21:03on
21:03about
21:03people
21:04that
21:04didn't
21:04have
21:04the
21:05right
21:05skill
21:05set
21:05I'll
21:06be
21:06frank
21:07in
21:07True
21:07Fairer
21:07we
21:08have
21:08we've
21:08learned
21:09from
21:09that
21:09and
21:09actually
21:09made
21:10some
21:10tough
21:10decisions
21:10on
21:11the
21:11journey
21:11but
21:12all
21:12it's
21:13done
21:13is
21:13strengthen
21:13our
21:14team
21:14as
21:14we
21:14move
21:14to
21:15the
21:15scaling
21:15journey
21:16and
21:16whilst
21:17that
21:17is
21:17never
21:17a
21:17nice
21:18day
21:18I
21:18always
21:19believe
21:19in
21:19doing
21:19it
21:20kindly
21:20and
21:20with
21:21respect
21:22but
21:22fundamentally
21:23our
21:24people
21:24are
21:24our
21:24key
21:24asset
21:25because
21:26the
21:26use
21:26of
21:26AI
21:27is
21:27now
21:27making
21:28changes
21:29so
21:29quick
21:30and
21:30people
21:30are
21:30building
21:31out
21:31stuff
21:32but
21:32to
21:32actually
21:33productize
21:33really
21:34takes
21:34a
21:35strong
21:35person
21:36to
21:36coordinate
21:36and
21:37finish
21:38and
21:38take
21:38these
21:39things
21:39to
21:39market
21:40so
21:40that's
21:41something
21:41that
21:41AI
21:42I've
21:42learned
21:42cannot
21:43do
21:43so
21:44I
21:44think
21:44people
21:45have
21:46always
21:46been
21:46important
21:47but
21:47now
21:47even
21:47more
21:48critical
21:48than
21:49ever
21:49I
21:49think
21:50to
21:50the
21:50core
21:50of
21:51scaling
21:51a
21:51business
21:52yeah
21:53that's
21:54great
21:55learning
21:55indeed
21:56I think
21:57we have
21:57a minute
21:58and 30
21:58left
21:58so
21:58maybe
21:59final
21:59question
22:00and
22:01to
22:01end
22:01we'd
22:02love
22:02to
22:02hear
22:02from
22:02you
22:03what
22:04you
22:04view
22:04as
22:04the
22:05long
22:05term
22:05vision
22:06for
22:063
22:074
22:07what
22:07would
22:07be
22:07success
22:08in
22:08say
22:085
22:09to
22:0910
22:09years
22:09well
22:10I'm
22:10always
22:11going
22:11to
22:11say
22:11another
22:12IPO
22:12so
22:13I
22:14literally
22:14I mean
22:15that's
22:15as you
22:15know
22:15we've
22:16set
22:16on
22:16that
22:16journey
22:17and
22:18I
22:18get
22:18excited
22:18by
22:19that
22:19I
22:19personally
22:20have a
22:20personal
22:21vision
22:21that
22:21I
22:21was
22:22gifted
22:23very
22:23fortunate
22:24success
22:25both
22:25in
22:26experience
22:26and
22:26financial
22:27from
22:27the
22:27UiPath
22:28journey
22:28so
22:29I
22:29want
22:29my
22:29employees
22:30at
22:30TreeFair
22:31and my
22:31investors
22:31to
22:31experience
22:32the
22:32same
22:32that
22:33said
22:34I
22:34also
22:34you
22:35know
22:35in
22:35our
22:35product
22:35way
22:36we
22:36are
22:36absolutely
22:37on
22:37the
22:37path
22:37to
22:37be
22:37the
22:38category
22:38defining
22:38business
22:39in
22:40financial
22:40services
22:41and
22:41supply
22:41chain
22:41markets
22:42to
22:43provide
22:43them
22:44with
22:44the
22:44data
22:44on
22:45first
22:45mile
22:45commodities
22:46which
22:47I'm
22:47super
22:47excited
22:48by
22:48and
22:49in
22:50addition
22:50to
22:50that
22:50I
22:50would
22:51always
22:51add a
22:52word
22:52of
22:52caution
22:52as I
22:52say
22:53to
22:53our
22:53employees
22:53and
22:54we
22:54talk
22:54about
22:54this
22:55is
22:55the
22:55markets
22:56as we
22:56all
22:56know
22:56are
22:57kind
22:57of
22:57crazy
22:57but
22:57not
22:58crazy
22:58at
22:58the
22:58moment
22:58so
22:59the
22:59honest
23:00truth
23:00is
23:00who
23:00knows
23:01what
23:01will
23:01happen
23:01but
23:02that's
23:02our
23:02vision
23:03yeah
23:04makes
23:04sense
23:04and
23:05we
23:06look
23:06forward
23:06to
23:06continue
23:07supporting
23:07you
23:08along
23:08the
23:08journey
23:08well
23:09I
23:10think
23:10we're
23:10on
23:10time
23:10so
23:11thanks
23:11for
23:11everything
23:12you
23:12shared
23:12really
23:12enjoyed
23:13it
23:13and
23:13thanks
23:14everyone
23:14for
23:14listening
23:15thank
23:15you
23:16thank
23:16you
Comments