And the great thing about our culture is a movement takes a follower. In 2018, Elias launched Forward787, a social enterprise committed to raising and deploying $100 million to build businesses in Puerto Rico that compete with the world's top companies. And I've had the greatest run in my marriage, any marriages ever have. Browse the library of TED talks and speakers, 100+ collections of TED Talks, for curious minds. Along the way, they figured out how to integrate online marketing and old-fashioned telemarketing and they got very good at search engine optimization. Xu is the CEO of DoorDash, the restaurant delivery service he founded in 2013 with fellow Stanford University students Andy Fang and Stanley Tang. And I said, "The way I figured out was really simple is, if I don't get on this flight, I may never get on a flight. And I think because we're U.S. citizens, when you're born there, it's really easy to get on a plane, and many people have family here or in Orlando or in other places, so it becomes a much easier immigration story than it will be in other countries where it's not as easy. And the key, I think, for leadership is to make sure that the culture is swimming in kind of the right direction. Brian Kelly: I highly recommend -- Ric has a TED talk, "The three things I learned when my plane crashed." You're sitting there. WebRic Elias is the co-founder and CEO of Red Ventures, a portfolio of digital companies headquartered in Charlotte, North Carolina. Its about a 24-minute drive to Bank of America Stadium, and a 28-minute drive from where the new Panthers headquarters facility will be in Rock Hill, just off I-77. Less gloomy, I think, is something else that Red Ventures represents: a challenge to the oligopolistic dominance of Amazon over the internet, and a model for independent media companies that have spent a generation either losing their core businesses to cheerfully ruthless tech giants or, at best, living on their scraps. This was a pretty high-tech form of digital surveillance in those more innocent times. Ric Elias: Probably never has been more true that you can die of indigestion as well of starvation. There were 4 million Puerto Ricans, and now, the island has about 3.1, 3.2, so Brian Kelly: And is that after Because I know even after Maria there was an even bigger rush out. Brian Kelly: I mean, I think part of our culture is giving back; we say, "Leaving the woodpile higher than we found it." | Learn more about Ric Elias's work experience, education, connections & more by visiting their profile on LinkedIn WebRed Ventures was formed on September 29, 1999, in Fort Mill, South Carolina by Ric Elias and Dan Feldstein. Brian Kelly: Would you say that this played a role in Red Ventures and what it is today, being a behemoth? He persuaded key investors the private equity firms General Atlantic and Silver Lake each own about 20 percent to back an ambitious expansion. And to do that, we need really smart people. Ric Elias A native of Puerto Rico, Elias attended Boston College and Harvard Business School before starting his career as part of GEs Financial Management program. 05:11 Elias: It doesn't matter. Ric Elias is CEO/Co-Founder at Red Ventures. Rics life leading up to the day of the plane crash [5:30]; The plane crashWhat its like knowing youre about to die, feelings of regret and sadness [11:15]; The improbable plane landing in the Hudson River [19:00]; Emotions after the safe landing (and a story hes never told before) [25:45]; A powerful story about Captain Sully [29:30]; Earning his second chance at life, and playing the infinite game [38:30]; Why time is the ultimate currency, and how (and why) to say no [46:15]; Raising kids in an achievement culture, Rics definition of life success, and what Ric wants to instill in his kids [53:00]; What Ric believes is actually worth getting upset about, and the organizations that are taking steps to help people [1:09:00]; The core principles of Red Ventures (Rics company) [1:19:15]; Rics tips for developing business acumen and negotiation skills [1:29:30]; What qualities does Ric look for in people he wants to work with? Some of them don't even go to private schools. He cofounded Red Ventures in 2000, just months before the dot-com bubble burst. Ric Elias: They usually start with a phone call on a Saturday where I call somebody who goes, "I have an idea." Comments that harass other posters will be deleted. There are a number of retired pro athletes with kids that are high school or older who live in quite nice homes in South Charlotte, Ballantyne, and Marvin. Brian Kelly: Did you pick up the language when you were there? Ric Elias: You know, it is such a tiny island. Drive out of Facebook right now, and on the sign, you see Sun Microsystems. You travel enough, and you know when you're going to hit even if you don't see the runway, right? He is also the founder of Draken International, a defense firm that trains Air Force pilots and owns the largest private fleet of military aircraft in the world. And if I get on this flight, and it goes down, and I survive again then Oprah Winfrey's got nothing on me.". They couldn't land. Elias, a Puerto Rico native, has also started several nonprofits, including Road to Hire, Golden Door Scholars and Forward787, a social enterprise in Puerto Rico. The Times story said the company has a conservative valuation of $11 billion, and Elias owns more than 20% of the company, putting his net worth over $2 billion. It just needs an ecosystem. Brian Kelly: So at the TPG Awards this past year, we invited Sully, and you gave an amazing speech. Ric Elias: So just quickly, when the hurricane happened, I got a lot of friends calling and saying, "Hey, we want to help, and you're the one Puerto Rican we know, so whatever you do we'll do." You can feel it. But if you get the right culture, you can go through a lot of evolution and change and come out on top, and I think that's our bet. Courtesy Red Ventures. I think we got plenty going on right now. Life was over. Tirades, Welcome to Charlotte, Things to do, Buying/Selling, and Charity are all weekly topics. But the population of Puerto Rico is expected to dip below 3 million over the next five years, so it's a massive issue when you have that kind of brain drain. And if I get on this flight, and it goes down, it was me God was coming to see, so what are the odds? Fantastic conversation appreciate being the fly on the wall. Red Ventures CEO Ric Elias says he's spent 20 years building a company that aims to help people make decisions about their homes, health, finances, travel and education. WebIn this episode, Ric Elias, founder of Red Ventures, opens up about the fateful day he knew for certain that he was going to die as a passenger on US Airways Flight 1549. Eliass leadership style and personal life are deeply influenced by his experience as a survivor of Flight 1549, also known as the Miracle on the Hudson. He is devoted to using his platform to leave the woodpile higher than he found it spinning out multiple nonprofits from Red Ventures over the years, all of which are aimed at creating educational opportunity and economic mobility for under-served groups. New comments cannot be posted and votes cannot be cast. There's been no more humbling role in my life than being a dad because so many things that you think are right and so many things that you take as true facts are not. I have many, many other jobs. Anyone can read what you share. Brian Kelly: Did you ever hear from him again? She had just heard the captain say: "Brace for impact." A native of Puerto Rico, Elias attended Boston College and Harvard Business School before starting his career as part of GE's Financial Management program. A lot of people think that Puerto Rico is the center of the world, and out of that comes great pride in being Puerto Rican, which is a beautiful thing. And now Red Ventures is the largest in a group of private equity-backed giants that have been snapping up trusted media brands once left for dead. What would you say to someone like me who wants to do both things? The arrival of Red Ventures executives hasnt always gone over well among the journalists who find themselves working under Mr. Elias. Ric Elias: Right. More troublingly, some reporters at The Points Guy, which also covers the travel industry in general (it has been a comprehensive source for information on where vaccinated Americans can travel), have complained that the new owners have eroded the already rickety wall between the sites service journalism and the credit card sales that fund it. Other tricks were more ingenious. So on that plane ride I said, "You know what? We only accept comment from posters who identify themselves. Ric Elias, CEO and co-founder of Red Ventures, and his wife, Brenda, are suing the 24,500-square-foot houses Charlotte architect and builder, along with the manufacturer of the doors and windows. Vlezswife, Mariel Reyes, is the cofounder and CEO of Reprograma, a Brazil-based startup that helps marginalized women with computer programming and job placement. Ric Elias A native of Puerto Rico, Elias attended Boston College and Harvard Business School before starting his career as part of GEs Financial Management program. Brian Kelly: And this year I know we've acquired two big brands, Healthline and HigherEducation.com. Cookie Notice Safe travels, everyone. And I call and say, "Hey, honey. Non-lame, weekly emails on thelatest strategies and tacticsfor increasing your lifespan, healthspan, and well-being (plus new podcast announcements). I'm in Quail hollow, and while I stay in a small home, with the help of google maps and zillow I've come to find out that I stay 4 mins away from multiple houses that are worth over $4,000,000. In 2009, Elias survived Flight 1549, the "Miracle on the Hudson, which led to his viral TED Talk, "3 Things I Learned While My Plane Crashed." Elias was on Flight 1549 when it unexpectedly landed unhurt on the Hudson River in 2009, an event he claims transformed his life. We also talk about his incredible role as CEO of an enormous company, his remarkable work in philanthropy, and all the wisdom he has acquired in his extraordinary life. It is a spectacular house. He and his wife, Brenda, are passionate about economic mobility for underserved young adults. I've been to a couple of their multi million dollar homes and it is rather surreal. Native of Puerto Rico, graduate of Boston College and Harvard Business School. Ric Elias: I know you had Danny Meyer here recently, and I'm friends with Danny. So integrating all of it for me was very clarifying. But these people are multi-millionaires. Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. People are very passionate. Brian Kelly: Likewise. WebRic Elias is the co-founder and CEO of Red Ventures, a portfolio of digital companies headquartered in Charlotte, North Carolina. Comments deemed to be spam or solely promotional in nature will be deleted. #249 How the brain works, Andrews fascinating backstory, improving scientific literacy, and more | Andrew Huberman, Ph.D. movies depicting minor league hockey teams. It's very competitive. And we believe in high bars. He still is kind of pretty dressed, pretty sharp, like he is Brian Kelly: You guys were in the same boat off the side. We're not exactly a digital media enterprise. And I heard Danny once said about culture that it's like a shark. Ric Elias: What is really fun is digitization of every industry's just starting. Elias was on Flight 1549 when it unexpectedly landed unhurt on the Hudson River in 2009, an event he claims transformed his life. A lot of people ask me, a lot of our employees, "So how do you think about work/life balance?" For sites like Wirecutter, internet commerce often means, in practice, serving as an Amazon storefront, with revenue trickling in from modest commissions. Red Ventures is based just over the border in Indian Land, South Carolina. Sports stars? WebSee Ric Elias's compensation, career history, education, & memberships. It was a great place. Brian Kelly: And some of the key reasons for people leaving, is it mostly opportunity and jobs, or is it just the whole infrastructure that's pretty much decrepit? And I call from a strange number. WebOn a cold afternoon in January 2009, Ric Elias was flying home to Charlotte, North Carolina, in seat 1D when he saw fear flood a flight attendant's eyes. Before its 2020 acquisitions, the company has grown into an international presence with more than 100 brands, 3,000 employees, and operations in the United Kingdom and Brazil. [7] That same year, it doubled the size of its headquarters[8] and bought postal services company Imagitas from Pitney Bowes. [1:35:30]; What is the most challenging part of your business today? Red Ventures CEO Ric Elias says he's spent 20 years building a company that aims to help people make decisions about their homes, health, finances, travel and education. We'll leave it there. What is it like to be Puerto Rican? [2] The company's corporate headquarters is located in Indian Land, South Carolina, a suburb of Charlotte, North Carolina. WebRic Elias was given the gift of a miracle: to face near-certain death, and then to come back and live differently. Half the time, I don't even know what I am apologizing for. On this episode, you'll hear work-life balance advice, you'll be inspired to support a cause you're most passionate about and you'll learn a bit more about TPG's place in the Red Ventures ecosystem. Brian Kelly: So your idea to rebuild Puerto Rico is to invest in incentivize people to return to the island, and the 787 program is the vehicle to do that. Ric Elias is the CEO and cofounder of Red Ventures, a portfolio of fast-growing digital businesses. He cofounded Red Ventures in 2000, just months before the dot-com bubble burst. The lady looked at me like I was crazy, he recalled, but hed figured that if I dont get on a flight right away, I may never fly again and if the next flight goes down, it was me God was coming to see., Youve Never Heard of the Biggest Digital Media Company in America, https://www.nytimes.com/2021/08/15/business/media/red-ventures-digital-media.html. It's been almost 20 years. Though his business takes him around the world, Agarwal, who was born in Mumbai but now lives in London, plans to focus his philanthropy on his native India. This site does not include all credit card companies or all available credit card offers. And we have about 350 of these kids now over the last seven years, and our graduation rate is 99%. Have we taken everyone? There are a number of retired pro athletes with kids that are high school or older who live in quite nice homes in South Charlotte, Ballantyne, and Marvin. Please view our advertising policy page for more information. The couple, whose intention to join the Giving Pledge was made public in August, say they aim to give back through their respective ventures, but also plan to establish a new family philanthropic platform focused on improving the opportunity set for the most vulnerable and disadvantaged Latin American children and young adults.. Plus, your own feed of TPG content. At the center of the company is Ric Elias, the chief executive and co-founder. Brian Kelly: And so Red Ventures made a name for itself really working with DIRECTV and having sales centers, basically connecting online to offline sales, right? #252 Latest insights on Alzheimers disease, cancer, exercise, nutrition, and fasting | Rhonda Patrick, Ph.D. Cognitive Health & Neurodegenerative Disease, #251 AMA #46: Optimizing brain health: Alzheimers disease risk factors, APOE, prevention strategies, and more, #250 Training principles for longevity | Andy Galpin, Ph.D. (PART II). Forward787 puts individuals with a strong interest in revitalizing Puerto Ricos economy through a 12-month program to develop business and technology skills. Both pilots had been in the airforce and both were glider pilots. He arrived at Boston College, in 1986, a semester late because hed been trying to make a local professional basketball team, the Leones de Ponce, and speaking what he described as broken English. So there's about two minutes before he says anything, and when you look at all the records, they were trying to restart the engines, and they couldn't. So we ended up on the same side, and after a while I see him standing by himself. Ric Elias, CEO and co-founder of Red Ventures, and his wife, Brenda, are suing the 24,500-square-foot houses Charlotte architect and builder, along with the manufacturer of the doors and windows. Terms apply to the offers listed on this page. And in their training, what you find out is that means we are not landing at a runway. How do we base digital businesses in Puerto Rico? So we have provided tons of value to our partners, huge brands. [1] Red Ventures focuses on sites that dispense news, advice, and reviews. You know, Puerto Rico has had a massive brain drain. He said, "Don't worry. They're Latin. Ric Elias: Like, completely. And we believe that there's going to be a few winners in every big industry out there that aggregates consumer interest by providing value to the consumer. However, his net worth has since fallen below $1 billion, according to Forbes estimates. And I realized I wanted to live the rest of my life out of this platform, and that I could do all the things that meant something to me around making a difference for others inside of the company and not even have to retire, do it after this life. So when prospective customers called, Red Ventures knew exactly what they had been looking at on the site, which gave the agents what they needed to make personalized sales pitches. Vaccinated employees have lunch in a dining area on Red Ventures 180-acre campus. They entered the business of selling subscriptions for DirecTV and burglar alarms for ADT Security. Ric Elias, the companys chief executive, is known for his TED Talk about being on the US Airways jetliner that made an emergency landing on the Hudson River in 2009. Theres an, "This is how I would judge my life'Did I earn my gift? Ric Elias: And the first thing they hear. Brian Kelly: All right. In 2015, Red Ventures raised $250 million, which went toward its $1.4 billion purchase of Bankrate, a personal finance company that helps people comparison shop for financial products (and earns a commission on each sale). WebRic Elias is CEO and co-founder of Red Ventures, a portfolio of digital companies headquartered in Charlotte, NC. If you lose brand trust, then you dont have a business.. Theres quite a bit of good news in the rescue of old media brands by Red Ventures and similar companies CNET plans to hire 150 new employees this year, for instance. Right as you're taking off, did you hear the birds go in? Launched in 2010, the company has grown to encompass tens of millions of users, with its app installed in 90% of the countrys smartphones. Its about a 24-minute drive to Bank of America Stadium, and a 28-minute drive from where the new Panthers headquarters facility will be in Rock Hill, just off I-77. Brian Kelly: Who should work at Red Ventures, and maybe, who shouldn't? Tech millionaires? Two of the three cofounders of design unicorn Canva, Perkins and Obrecht are worth an estimated $6.5 billion each. I think one of the most interesting things is the program 787 that you started at Red Ventures as a way to rebuild the island in a long-term form. It's about 70% females and all minorities and all studying really valuable fields for the future of our country. Ric dives deep into how that day impacted his life, greatly changed his perspective, and improved his relationship with his famil Ric Elias, CEO and co-founder of Red Ventures, and his wife, Brenda, are suing the 24,500-square-foot houses Charlotte architect and builder, along with the manufacturer of the doors and windows. Red Ventures, as is, will never be a public company as long as Im running it.. WebRic Elias (on stairs). He cofounded Red Ventures 05:11 Elias: It doesn't matter. Ric Elias: I did. [5] Before its 2020 acquisitions, the company has grown into an international presence with more than 100 brands, 3,000 employees, and operations in the United Kingdom and Brazil. And it gives me a great appreciation. There's a massive explosion, almost like a pipe bomb. For more information, please see our Brand and trust are at the core of everything that we do, said Courtney Jeffus, the president of the companys financial services division, which includes Bankrate. He launched the company in 2009 after noticing five Brazilian banks controlled 80% of the market and were charging high fees for basic financial products. Journalists, like members of a medieval guild (the guild hall is Twitter), tend to be more connected to the folkways of their profession than to any corporate culture, and some roll their eyes at Red Ventures rah-rah retreats, which feature fireworks and song. Her experience wasnt uncommon. The home sits in between two key Panthers facilities. Contact an All American Speakers Bureau booking agent for more information on Ric Elias speaking fees, availability, speech topics and cost to hire for your next live or virtual event.
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