It's going on everyone Sam here with late sports cards. We're in one box of 23 leaf ultimate hockey For mr. Leon H. So good luck here at Leon 23 Leon. Okay. See something cool dude pull the Lemieux most recently out of This product, which is really good. So good luck. Oh boy We got the Ocho some extra names Jesus is just someone suplex someone the customers We've got Joe Thornton Jerome again law Marianne Hossa Danny Danny Alfredson Martin San Luis Vincent Lecavallier Joe Sackic and Yadamir Yager. That's nasty 14 to 25. That is dope. I Am in on that on the Ocho all game used. I do love the The pairing of these through San Luis and Lecavallier Open it. Yeah, it was a nasty Nice one here is gonna be a Larry Robinson on the ultimate signatures 25 to 25 25 of 25 Bad at all. Yeah, and that nice one here is 7 to 25 to you musta letting That is gonna be game used all the way around some patches on there For of course the Anaheim duck, which is awesome 7 of 25 long-time Anaheim duck See me so that I know Leon Very nice Leon. That was a good box. That's a very good box Thanks as always for the sport Leon get him right out to buddy


The representative of Lagos Central Central District, Nigerian youth parliament Abdul-Mumin Edidi, has organized an annual hangout for the youth to socialize in sporting activities and also sensitize them on their rights to vote. The event which was tagged Catch the Vibe, which attracted youths of voting age, also had INAG heads of unit Lagos in attendance. Our correspondent Paul George reports. More than 500 young men and women gather at this event, tagged Catch the Vibe, which means vision, information, benefit and experience. For many of them, it is a moment to network and also catch a glimpse of the activities why some have come out to participate in various sporting games. The convener, Abdul-Mumin Edidi, tells us why it's important to have this event at this time. The idea is to bring young people together in a social sport non-competitive atmosphere to get the vision of the youth parliament, get informed on things going on that affects young people in the society, engage and tap the benefits that is available and create a wonderful experience for ourselves. Look at the environment, you'll find out that the spaces are still scanty. That's because one of the criteria for getting access into this venue is to show your permanent voter's card. INEC head of unit Lagos expresses disappointment in the low turnout of youth at the PVC collection centers in the south-west. He urges them to go out and get their PVC's. Some of the market women have told us that look, they can't live in their wares to go and collect that they will be there to live in it. That's what is important to them now and some will tell you, I want to go and do this, I want to go and do that. That is, you know, and apart from that somewhere, you know, it's already this place, it's already filled with social party members, so it is of no use.  Other members of the organizing committee explain what the youths stand to gain if they participate in the election process. They speak alongside an electorate who expresses delight at joining the youths at the event. The network, then secondly, they will be able to get sensitization because we have representatives from INEC coming, so we will get sensitization about the upcoming election and also if they have any questions ranging from non-availability of PVC, I don't know my word or not, they will be able to ask directly from the INEC staff. Based on the name of our group, that is the Lagos Central Centurial District, Lagos Central Youth Constituency, so what we do is we train ourselves to be good leaders, those that have the interest of youths in mind, that have also tried their best to support the youths, so some of them will be here today.  And this is what we've always said, we want the youths to get involved, so when they're doing this, why don't we support them? It's there, no brainer, you have to support them. As the countdown to election gets closer, the electorate can only hope that PVC collection will be seamless. Paul George, Plus TV News.


Welcome back to the deal room and we've got three topics we're going to cover with you for the session ahead big farmer deal making has recovered with an $85 billion worth of an M&A splurge. We're going to dive into and look to unpack what makes that sector particularly attractive right now and unique in various different ways. Then sticking with the AI theme, artificial intelligence startup co here has raised $270 million US dollars for a mix of venture capital and strategic investors including the big boys Oracle and Nvidia. We haven't discussed really venture funding so far in the deal room that's going to change in this episode. And then finally, got a special guest appearance. Oh yes, Kim Kardashian is here. Hey Kim, how's it going Kim? I'm sorry, I'm not Kim. So disappointed if you're on the pod you're thinking oh really? It is Stephen, but yes Kim Kardashian is making a guest appearance in some shape or form. And the reason why is she debuted her private equity fund to a sea of curious investors in Berlin at something called the super return conference. So we'll find out what's the story, the structure of her fund and whether Kim has a unique edge in the marketplace perhaps. But before we begin Stephen, the FTC, the Federal Trade Commission have filed to block Microsoft from buying Activision Blizzard.  Any initial thoughts on that because I know we have discussed this on a recent episode. Yeah, thanks and good morning. Yeah this is a really, again this is an ongoing story and it's one that as you said that we've discussed previously. This is not, it wasn't unpredicted. It was an unforeseen that the FTC would block this. And actually interesting enough what the FTC has said is that we want to bring this to court. We want to bring this deal to court because we want to see it out in the courts, right? And actually Microsoft and Activision are like bring it on. We want to go to court too. We want to speed this thing up. It's been dragging out for too long. You haven't blocked it. You just said let's go to court and we're up for presenting our legal challenge. We're just taking a step back. What if I'm really interesting about this is we are live in our summer analyst program at the moment. Hopefully some of the summer analysts are listening to this call and they have been modeling Activision. They've been doing a valuation model on Activision for the last 48 hours. So they are live in it thinking about whether $68.7 billion, which was the original offer, and then $75 billion, which is the revised offer, is that good value for Activision? So it really brings the deal alive when there's news going on and then the students are kind of deep in a financial model working until very early hours of the morning trying to figure this thing out. So it's fun to be on live deals trying to work it out. Yeah. Oh, it sounds great. I really want to jump on to see their conclusion then when they get to that. You don't need to stay up until the early hours and don't worry. Fortunately, I can play the other side of that table. I'll just be the client. The guy with the strings and I'll say, what am I doing? Yeah, you tell me. Where's my banker? But let's kick it off then. Let's talk big pharma because in the recent, I guess, macro climate, the thing that you predominantly have been reading, although it starts to being a bit of a sea change very recently, I think, now we've gotten to the peak of this rate kind of cycle, but it had been that deal making had just been across the piece just crushed given the rapid rise in rates. And we've seen this reflected in the investment banking space, lots of job cuts because of lack of deal flow, so on and so forth. So big farmers bucking the trend that you've mentioned before, $85 billion splurge. So where's this coming from? This is a really good story. And actually, all three stories today kind of buck the trend. And at the end of each of these stories, I've got, oh, by the way, deal making is down 40% this year at the end of each of these stories, but we're talking about new deals and big acquisitions and things and big investments and things like that. So the pharmaceutical industry has always been a bit of a weird beast. If you're in an MNA environment, the pharma desk is very different from the other desks. You've got the pharma desk and you've got the banking desk, and then you've got more generic desks and the very, very different ways to model companies. You think about the way that pharmaceuticals work. You've got these blockbuster drugs that effectively these organizations get granted monopoly power through patents for 20 years to exploit and commercialize and market these drugs. So it's a very, very different way to think about a company. And often these large companies are valued based on one or two or three blockbuster drugs and the future cash flow provided from these blockbuster drugs. Now, what's happening at the moment and why do we see this headline $85 billion of acquisitions since in the first five months of this year? It's all about this thing called a patent cliff edge. So it's estimated that about $200 billion of annual product sales are expected to lose patent protection by 2030. So these monopoly drugs, these blockbuster monopoly drugs bringing big pharma $200 billion a year, the patent is going to expire by 2030. What happens when a patent expires? All the generics, the generic pharmaceutical companies can pile in and go, well, look, I can take that drug and call it whatever, you know, that's why paracetamol and aspirin in the shop is so cheap, right? It's not patent protected that anyone can produce it. So big farmers getting super scared that this $200 billion of revenue is going to go. The last time we had a patent cliff edge, just to give you a bit of a background, last time we had a patent cliff edge was in 2010. And the industry scrambled around. They scrambled around to figure out what to do in an environment where their blockbuster drugs were no longer going to be blockbusters. You know, I think Pfizer's revenue fell from $68 to $59 billion, still a lot of money, but that's a big fall in two years due to this patent cliff edge. The Staten Lipitor wants the world's most lucrative drug sales dropped from $11 billion to $4 billion free and post exclusivity. So that goes to show how big a deal this is. Actually, what happened in 2010 is a lot of the big pharma companies joined together to kind of protect themselves from the downside of this cliff edge. That was one of the big ones that ended up merging. So what's going on now? $85 billion is being used to acquire organizations that have got drugs that have got decent expiration dates on their patents. Plus, potentially acquiring companies that have got an interesting research and development process where the next new drug would come from. There's a combination of going, all right, there's a patent cliff edge. We need blockbuster drugs that have still got 10 or 15 years of life left on the shelf. Plus, we want to start investing in and acquiring kind of more nimble biotechs where their pipeline, maybe 10, 15, 20 years out, is looking quite attractive. So this patent cliff edge is unlike anything you see across the industry. And by the way, I was just looking at looking at the balance sheets of some of these companies, terms of deal rationale. A, there's this big looming problem. And B, these guys have got loads of cash on their balance sheets post COVID. These pharma companies churn out quite a lot of cash. So Johnson & Johnson have got $24 billion on their balance sheet. Novartis have got $18. Pfizer's got $22 billion. They're not short of cash. And obviously, when you've got a lot of cash in your balance sheets, the first thing an investor is going to say, a shareholder is going to say is, what are you doing with that cash? Is you're either returning it to me or are you going to spend it? So is there a lot of regulatory kind of burden in order for them to, I mean, essentially they're just taking out these companies and getting bigger themselves, reducing, let's say, the market size into concentrated big mammoth companies. Do a lot of these deals get blocked or is there any pattern there? Yeah, it's a really, really good question. Again, it's such an interesting industry because effectively what we're dealing with is monopolies within organization. Pattern protection, exclusivity, these are words that competitions and markets authorities probably don't like to hear. There's obviously the incentive for a pharmaceutical company to spend billions of dollars researching and developing a particular product, because the jewel at the end of the crown is 20 years of lovely exclusivity. But then you kind of zone up a level to the holding companies, to the companies that tend to produce these drugs. And historically, movements between companies, positions, mergers, big deals, they've all been allowed through. There hasn't been a lot of regulatory oversight for intermingling between the big boys in this environment. I think the last time there was any form of regulatory murmurings in this industry was back in 2010. So again, 12, 13 years ago. But what's been happening recently, and it's the thing that we're probably going to come right back to, and again, we've already touched upon it once today, is that the FTC Federal Trade Commission getting their claws out, and they are hunting for anything that looks anti-competitive or anything that looks like there may be a detrimental effect on the end consumer. Obviously, we saw it with Microsoft and Activision. The other big story in the kind of regulatory world is Amgen's takeover of Horizon therapeutics. Now, Amgen, the gear rationale is exactly the same, right? Horizon have two big drugs. Amgen wants to get the drugs. They want to expand their kind of future free cash flow visibility, et cetera. FTCs block the transaction, right? Now, the FTC can't block the transaction based on the fact that your drugs are a monopoly, because that's the nature of the beast, the drug is a monopoly. So they can't take that action. So their argument is that the transaction would enable Amgen to use rebates on existing drugs that they hold, pressure insurance companies and pharmacies into favoring Horizon's two monopoly products. So basically cross-selling, basically saying, look, we've got these drugs that you need. We're going to give you a nice rebate on those drugs at discounts if you go for the Horizon drugs, which we now own. So it's kind of market capture and market squeezing that the FTC doesn't particularly like. Now, pivoting over to a little bit more from a career's angle, there's something you said at the very beginning is that I never really thought about this, but it's obvious when you say it is that you go on like a banking deal room, and there's like these different desks. Is there like a hierarchy almost like in the current recent years, it's like the hot desk to work on for an M&A analyst is the tech desk. And you look over at the bioscience guys who are PhD bioscientists mixed in blended with these financiers, and you're kind of like it's a different beast. I mean, what's that working environment like? Do those teams even interact with each other? Are they in completely different spaces? Yeah, it's a good question. It depends on the construction of the bank, but you're absolutely right. There definitely has been kind of more attractive deal teams to work on or sector teams to work on, I should say. But there's a text being a big one because that seems to be more intuitive. Often people quite like consumer. People think that some of the more old school industrials may be a little bit less attractive. Actually, in reality, they're probably more interesting from an M&A perspective, more interesting financials and deal rationales and things like that. But you also have execution teams. So teams that just work exclusively on doing deals. So you have your sector teams that have got the kind of industry experts, your PhDs, if it's in a particular industry that needs PhDs or whatever. Then you have your execution teams that basically just get brought in like hide guns to do deals. And actually, depending on how much sleep you like, it is probably the most exciting team to work on with an M&A. Because you're just doing deals. Which is kind of why you're there. So do you have to earn your place to become part of that group? Because I would imagine they're the highest paid of the bunch then. Yeah, the revenue closing deals. The revenue split is, again, it's different banks, but you are right. There's a lot of money to be made there. And it's just a different personality type. You can have your more analytical, thoughtful, relationship-building industry, the main experts sitting one side, which are just as important as the people that really know how to push a deal across a line and really know how to engage with the due diligence process and all of that stuff. So you need both. It just depends on your personality. I say to the analysts, there's a job here for everyone in finance. It just depends on the way your brain works and what gets you excited. So would you have to spend time in the sector to then know that part a little bit better or become competent to then become a closer? Or is it literally you're on the close of track because of your personality and natural skill set? Yeah, you tend to, as a graduate, you tend to get put on a desk and you get to earn your strikes on that desk for a period of time. And that desk might align with your subject at university or it might align with something that you've said in the past, but often it's just an allocation piece. And then you can make moves to say, actually, this is where I want to be. When I started, I got put on the UK mid-market M&A team. Totally random, apart from the fact that I live in the UK. Okay, cool. Yeah, nice to get a bit of flavour there. Inside look, if you like, in how this all works. So let's move on. Let's talk a little bit about AI then and this startup cohere. So what's the situation with them and the kind of venture capital side of this? Yeah, so we haven't really, as you said before, we haven't really spoken a lot about venture capital on the pod so far. But it is, again, it's a crucial element of the hierarchy of funding leading up to the IPO process and the big M&A process. It's probably kind of stage one. It's base camp for a lot of these companies. So venture capital, it's private capital invested into high growth, high potential young companies that often don't have a great deal of financial historic performance, but have got something to them, something special, something that could go big. Usually that's something is technology. And in order to get big, in order to achieve economies of scale or network effects or whatever it might be, a load of money needs to be pumped in. Now venture capital has only really been a thing since the 1950s, started out in West Coast, as you can imagine. Fairchild Semiconductor was the first one that really kind of kicked off the venture capital boom over in Silicon Valley. But it's going to be a global mega industry. All of the top five companies in the world, apart from Saudi Aramco, were all venture backed originally. And one little corner of this market, which I think is really important as it links together a lot of things that we talk about, is the corporate venture capital space. So corporate venture capital is where big companies, the big beasts of different industries, set up a venturing arm to go out and invest in exciting nimble young technologies that it can learn from, it can potentially exploit in terms of technology and learning from them and things like that. It might well be a financial upside if the company goes big. There's also a bit of a fear of missing out. If there's a hot young thing, these big old beasts want to go and try and get in on the action. And then finally, slightly less upstandingly, there's definitely an element of stifling the competition. If you're the big beast and you see a lot of nimble operators running around doing exciting things, you're probably not going to be able to compete with their speed of movement. Got the big kind of Goliath and then the nimble David. But what you can do is you can invest in them and you can take a board seat and you can understand what they're doing. And then you might eventually try and acquire them. And this is obviously what happened with Microsoft and OpenAI with that mega investment for $10 billion. And this is what's happened this week with Cohere, the large language model generative AI startup using all the right words, raising $270 million from a consortium of big beasts. They've got Oracle, they've got Salesforce, they've got NVIDIA, they've got Deutsche Telekom, they've got Schrodes Capital and a couple of normal VCs as well. So this is a very interesting looking deal. So if I was a banker, I'd be thinking, I need to be going out sourcing any small startup firm that is NLP related for generative AI and I need to be basically getting inside the owner's heads, the board's heads. And then how can I connect then my customer base, i.e. these big cap companies? It almost feels like there's easy money there to be made in some sense because it's such a hot trend and there's so much FOMO going on on a corporate level because of what's happened to NVIDIA and some of these other stocks. Yeah, you're absolutely right. And this industry is relatively well developed just to throw a couple of stats that you just in terms of those relationships between the big beast and the startups.  It's made over a thousand investments. Wow, yeah. $150 billion of funding. You know a lot about Alphabet and its market capitalization. $150 billion of funding is nothing. But it's also invested in Uber, Slack, Medium, DocuSign, Drive, StockX. You know, that's not a bad little roster of companies to invest in. So this chain between the little company and the big company is actually already quite well cemented in many industries. And it's also quite interesting to see that actually most industries have corporate venture capital. So there's pension tech, there's insure tech, there's obviously, you know, the technology to technology link. You know, so there's mining technology or like gas technology, but these links between the small and the big are actually quite well established. But when you talk about AI, yes, this is the hot topic. But two years ago, and this is why you have to move quickly in a kind of frothy, fomory market, two years ago, what was the big topic? Web 3, blockchain, crypto. NFT.  How can I get in on this? Who can I invest in? Everyone's running around, scrambling for the next big thing. And then as soon as it comes, it goes. So you have to be thinking a couple of steps ahead if you're one of these intermediaries or even if you're one of these companies thinking, all right, you know, generative AI is hot right now. You know, I could probably raise money whilst the sun is shining, as it were, but only for this period of time, because the hype cycle, as we all know, and we've seen time and time again, the hype cycle tails off. It doesn't last forever. So who here raising this $270 million, interestingly from this consortium of different corporate backers are just cashing in whilst the hype cycle's right at its peak? Could you, from a corporate strategy point of view, use this, this kind of putting these seeds of funding into these small companies? If you're in the farmer sector, could you use it to circumvent then regulatory scrutiny? So you're like, well, no, I'm just going to invest in a whole bunch of, you know, cancer research related companies working in that R&D at a small clip at the very early phase, so you've got some presence. And then it's like, well, no, I've been there the whole time. Is there any logic in that? There's a bit of logic in that, but then the problem comes when you start, when you go from minority ownership to majority ownership. So there's a lot less regulatory scrutiny on having 5% of company A, 10% of company B, because you don't have control. It's all about control, and it's all about the ability to exploit and integrate commercial upside. So just having a state and sitting on the board, it's going to give you an information advantage to what's going on in these companies. But then when you go and go, actually, I want to buy you, then the regulators go, well, you know, you've been doing this quite a lot recently. We're going to step in and take a look. So it makes sense, but the regulators will still hit you at some point. All right. Well, look, let's talk Kim Kardashian. Just why are we talking Kim Kardashian? She's been in the news. I saw some photos, and they were putting a lot of drama around this event. It was kind of the way they were billing it. It was at this super return, which I've never heard of. So perhaps you can shed some color on, but apparently it was like the main draw for probably lots of different reasons. Yeah. Well, it's a great opportunity to talk about Kim Kardashian. I know you've been itching to do so for months. Let's do it. So yeah, the headline here, and if anyone has followed private equity news, this is not a new headline. But Kim Kardashian turned up last week, this time last week, at the super return conference to have a bit of a Q&A and to start to market the fund that she is setting up. With a partner, an ex-carlyle partner. That's what I love about this story. So this super return conference, it is pretty stodgy. I'm just going to pull a couple of things from the website. You can network at the leading gathering in private capital. It's the most senior, the most global, and with the most LPs, limited partners, 4,000 plus decision makers, 1,300 LPs from 70 plus countries on the ticket. Such amazing topics as fundraising meets secondaries, solutions for GPs navigating the new market environment and preferred equity, evolutions in secondaries and GP strategic situations. Now, when you're looking through the agenda, and you're looking at all of these different ones, and then you say interview with Kim Kardashian, you know, you know which one is going to be the most well attended. And from what I understand, the interview that she did, people were queuing up, you know, spilling out of the room, the gray suits were kind of lining up to get a piece of the Sky Partners fund that Kim was touting. But let's, you know, it's quite a fun story, but let's kind of think a little bit more about the structure of this fund and why it's happening and why Kim Kardashian is getting involved in this. So we all kind of know that Kim Kardashian is an incredibly savvy operator. He's launched multiple businesses, you know, across the consumer space over the last five to 10 years, some of which, well, one of which has got a 3 billion plus valuation attached to it. So she's a good business person, right? You know, she knows what she's doing. She teamed up with a guy called Sammons, who's ex-head of consumer media and retail, Carlisle. I think they met through a mutual friend and they basically got talking so a few years ago.  He's head of consumer media and retail. He's done some pretty big transactions himself. So he's the kind of private equity respectable head. You're teaming up with Kim Kardashian, who has just got so much brand power and so many followers and a good bit of marketing and commercial now to create a consumer focused private equity fund that hopefully is going to have, you know, is going to have a little bit of an edge. Let me talk to you very quickly about the structure of the fund. This is a good representation of what all private equity funds look like. So this is relatively generic. Kim Kardashian is not vanilla, but this is relatively vanilla in terms of its structure. So the target of the fund is to make 10 to 12 investments of 100 to 500 million dollar equity checks. So if you're thinking you're thinking about a two and a half billion dollar, three billion dollar fund would be the right size for this type of fund. Seeking a minimum commitment of 10 million dollars from limited partners. So I don't know. I would say, sorry, you're going to miss out on this, but I don't know who am I to say. So effectively, what that's saying is you need to be a pretty sophisticated professional investor, probably an institutional investor, a pension fund or an insurance fund or something like that. They're trying to raise a million of a billion dollars. There is a hurdle rate on this fund of 8%. So what does this mean? So a hurdle rate in private equity and in alternative investments, hedge funds, etc. A hurdle rate is basically the minimum rate of return that is required before the general partners, i.e. Kim Kardashian and Samans, before they get to share in the profits. The traditional model is a 2 in 20, you get 2% fees every year and 20% of the shared profit. That is only when you reach a certain hurdle. So if these guys, if the general partners don't hit 8% returns, annualized returns, they will not get any of the share of the profit. They'll just get their management fee. Still not a bad day's work, they want to be targeting 15% or 20% because then they can take up to 20% of the remaining upside. So this is a very typical way to incentivize private equity general partners, the leading people in these organizations, to go above and beyond and not just be satisfied making 2% of a $3 billion fund is not bad every year.  But then there's this kicker of saying, actually, we could really nail this and make some quite serious money. Given all the other businesses that she has created and the success that she's had, like you said, $3 billion in just one of these ventures, then she's got to be setting her eyes on north of that to make this worthwhile as an exercise. She's probably going to absorb much of her time. Yeah, it probably will absorb a decent amount of her time. But I think this is pretty genius, to be honest. And I can imagine that the day-to-day I'm not in the weeds, but I can imagine the day-to-day will be made up of Sammons running the fund with a bunch of very, very smart associates and directors that he's hired in, possibly from his old place at Carlisle, doing the work of a private equity firm. But then you've got this edge and we always talk about this. We talk about this in public markets, how to be a how do the best investors stay on top. You've got to have an edge, right? You've got to have a quote-unquote unfair advantage, a legal unfair advantage that means that you are going to attract the right companies to invest and buy. But you're also going to be able to turbocharge those companies. Let's just think about it. If these guys if Sky buys a consumer company for a few hundred million and then suddenly Kim Kardashian's got an incentive to push this out to her 360 million Instagram followers and say, look, this thing is pretty cool go out and buy it. Suddenly you've got a revenue boost and what's the incentive what's the goal of a private equity firm to buy, to improve and when I say improve I mean top line revenue and bottom line profitability and then set, you know, their goal is to get into the weeds of these companies improve the companies and when you've got the kicker, which is 360 million Instagram followers and a massive global network this makes a lot of sense. Unfortunately, I don't have 10 million dollars. It's going to say that you are wetting my whistle for this fund. I won in. I won in too. But I was just having a quick look on Serena ventures because I know that Serena Williams a tennis player and I know there's many other celebrities that have kind of trodden a similar path I think Serena is one is where she backs female startups with her VC fund specifically to address the gender situation but is there any precedence for this? I know LeBron James and when we look at these other sports stars it's kind of like a bygone era where, you know, Michael Jordan of the day, I think he really lucked out because he was one of the first athletes to get a proportionate percentage of a ticket on the sale of his own branded shoes which wasn't a thing before then. But with these other ones like LeBron James, I mean the guy's billionaire and he's not a billionaire, he's playing basketball because of all these other business endeavors that he does. Is there any good record of using these celebrities in that way? I think there's a lot of precedent for this being successful and a lot of precedent for this being an absolute failure. I think it all depends if you're a very very successful person in a particular domain, let's say sports A, you're going to have a decent brand and you're going to assume that you are a pretty successful person maybe in other fields as well. The smartest people and the people that have done really well the Serenas of this world the Kim Kardashian's of this world have said, alright I know what I'm really good at but I'm going to get someone who really knows a particular domain partner up with them and use what I'm good at and use what they're good at to create something really really good. So Serena Ventures Sky Partners etc. There are so many stories and often ones that you don't read about but there are some good documentaries of sports stars that think that they're really good and they've got a bit of money so people start coming up to them and go hey do you want to invest in this thing or are you interested in getting involved in my restaurant chain or do you want to get involved in my venture do you want to invest a few hundred K you know we know you've got a little money and you're a pretty smart guy and then you see all of these very very rich and famous sports stars losing lots and lots and lots of money because they haven't put in place the right people to filter these investments they've said yes too much and maybe they've just believed their own hype and thought I'm a very good centre forward and probably going to be very good at property development. I was just trying to quickly jump on and search Shaquille O'Neal Shaq has such interesting business investments his portfolio he basically buys out carwash franchises I think he owns like 200 of them across the states and then he's got there's something like a chicken wing company Krispy Kremes he's got investments in all these different types of businesses that's absolutely brilliant and again just bringing this back to M&A I'm trying to think about synergies here what are the synergies what are the revenue synergies between Krispy Kremes and chicken wings and carwash franchises and things like that and Papa John's sorry that's the other one he's got a stake in as well he can tell Shaq's diet Papa John's Krispy Kremes gets his car washed and then he goes to the 24 hour fitness gym just to burn it off look it's not a bad life alright cool well look on that note Stephen always a pleasure and always great insights from you thanks for taking time out to chat and if you are new to listening to this or if not I mean I do check the stats from time to time I know there's a number of people who listen who aren't subscribed and I haven't rated to show yet so please go ahead and do so that would be much appreciated but thank you Stephen and thanks everyone for listening


Hi friends, welcome back to my channel and a very special welcome if you're new here. My name is Jen. I'm a certified weight loss and nutrition coach and I am here with my May favorites. I have a lot of favorites for the month of May. I have everything from home favorites, beauty and makeup favorites, beauty tool favorites, WW foods, we have a lot of favorites to talk about.  Subscribe if you're not because I upload a favorites every month and I do upload five videos every single week. I will link everything I share with you down below with discount codes, with the exception of things that you can find at your local grocery store. Everything will be at the top of the description box. Click the link and do some shopping. You'll also find nutrition coaching where I offer personalized to you macros and calories. Cannot recommend this enough. This is how I've lost over 140 pounds and I have one-on-one coaching for accountability or if you would like to chat with me directly. Links and discounts to my other favorite things and my Facebook group, come join us there. We would also love to have you join that community, our all down in that description box. So let's jump in to May's favorites. I have a lot of WW foods favorites but I wanna start out with a new device or tool that I have absolutely fallen in love with. I have been doing a lot of research into at home hair removal tools. I'm a hairy person.  The hair is back within hours. It's not even the next day and I can feel stubble. So I've really wanted to invest in a hair removing device for home because it is incredibly expensive to go have hair removal at a salon or at a spa. I found the game changer when it comes to at home hair removal and that is the device from the brand Magellan. This thing has changed my life. Magellan is one of the world's leading providers of home beauty devices and the hair removal handset is incredible. It has six multifunction modes, gentle enhance, continuous flash, bikini, face and cooling. So you can use this device on your entire body including your face. It also has the sapphire ice cooling system that is painless and effective. It's a revolutionary ice hair removal that can lower the skin's contact point to 41 degrees Fahrenheit. There's also six energy levels, free adjusted facial and full body treatment. It's environmentally friendly and has a quick 10 minute treatment if you're in a hurry and you just wanna do a quick treatment. There's optional wavelength for deep IPL laser hair removal, precisely inhibiting hair regrowth. There's the advanced filtering system for long lasting hair removal results. It's FDA approved, safe and effective, lightweight and portable and you can enjoy salon hair removal anytime, anywhere. There's unlimited flashes and flash speeds and maximum energy output. Beautiful device. It is so lightweight, so incredibly easy to use. I have used this on my hair, my legs, my armpits, my bikini line. There is no pain which I very much appreciate. We know waxing is painful and a lot of times using hair removal devices can cause unnecessary pain. The Magellan is pain free and super effective. I can go several days up to a week without having to touch up hair removal. I don't have to shave. It's just really truly an incredible device and I've been loving this. I wanted to test this out prior to having plastic surgery to see if I could go the entire almost week that I was gone without my hair growing back and it works and the longer you use it, the more effective it is and it is the price of one spa treatment, one hair removal treatment and you can do it at home whenever you need to. So I will link the Magellan hair removal device down below for you with a very special discount and like I said, purchase this. It's one visit to the salon and hair removal at home, that's pain free, easy and effective. Now let's jump into my WW Food Favorites. Like I said, I have quite a few new favorites for the month of May. First up is this Super Coffee. So I found this at Walmart. Now I've bought Super Coffee tons before but this flavor, oh my gosh, it is so good. This is the Strawberry Glazed Donut. This is 80 calories and it has 10 grams of protein. So it's a great way to get in protein. It has positive energy, six, zero grams of added sugar, 10 grams of plant-based protein and then 200 milligrams of caffeine. So it's about, what's in a couple of cups of coffee but the Strawberry Glazed Donut flavor is so good. It is on point. It is Strawberry Donut and it is the perfect combination with the coffee. It is so, so, so good. I really love the Super Coffee's in general but I have to say this one, my all-time favorite. Also this whipped cream, you guys have seen me use this in so many what I eat in a day and I've been raving about this. This is the Birthday Cake Whipped Cream from Sam's Club. So it's the member's mark brand which is Sam's Club brand. This is so good. It is Birthday Cake. And a lot of times when things are marketed as cake flavored or birthday cake, they don't really taste like that. It's just kind of a sweet vanilla flavor. This definitely tastes like birthday cake. You get two hands for $5, $6. This is my second can. We've already went through an entire one. It is the same macros as regular whipped cream and it's a million times better. I know that this is limited edition though so I'm a little sad. Oh, it actually says limited time on there. So I'm hoping fingers crossed that when I go to Sam's Club again, they still have it because I'm going to probably buy two more two packs because it is that good. I also shared these in my recent What I Eat in a Day that I put out on Wednesday. I'll link that video if you missed it. These are from Alyssa's Cookies and these are the Healthy Oatmeal Bites. Oh my God, these are the best things in the whole world. Actually, one of my coaching clients told me about these and she said that she absolutely loves them and they are sold at health food stores like Sprouts and Whole Foods but not in my area. So I just went onto her website and I think if you spent $40 or $45 you got free shipping. So I think I ordered six or eight containers and I just threw them in the freezer. These are incredible. These are like little miniature oatmeal cookies and you get two of them for the points. They're 90 calories for two. There's no added sugar. There's fiber. There's protein. They are so good. They are literally like a miniature oatmeal cookie and the macros and points on these, you can't beat it. They are some of the best things I've ever eaten.  So I'll link Alissa's website but check your local health food store to see if you can find them. But in my opinion, it's worth ordering on our website because I've been eating them like crazy. They're probably my new favorite food find. Also, you know, I love Clean Simple Eats but there's two products that I tried for the first time in May and they're both amazing. Let's go ahead and start with this. Now this may sound weird, but it's delicious. This is the Clean Simple Eats Pancake and Waffle Syrup Mix. So this is a make it home syrup. What's great about this is you literally mix it with water, put it in your refrigerator and it thickens up into maple syrup. It is only 32 calories per serving. I think it's one point on Weight Watchers, has really good ingredients and it's so good. And it's a powder form. So it's easy to store and you get multiple bottles of sugar-free syrup out of this. And like I said, it's so easy to make. I just put one in a mason jar, shake it up, put it in the refrigerator. You could put it in a squeezy type of storage container to squirt on your pancakes and waffles. Game changer. Much more affordable and tastes way better than store-bought sugar-free syrup and there's no caramel coloring. Caramel coloring is this carcinogen and it's not in the Clean Simple Eats. That was one of the main reasons I bought it and I absolutely love it. I can't recommend it enough. And the other Clean Simple Eats product I've fallen in love with is their brand new energy drink mix. This is in Strawberry Watermelon. I actually made a Copycat Starbucks pink drink in my What I Eat in a Day, that same video that's linked down below. This is so good. It's strawberry, it's watermelon. It's perfect for summer. You can make this into alcoholic beverages. The Starbucks pink drink, you can add it to water. This is absolutely incredible. I love that it comes in these little packets. It's non-carbonated, which is great for me because I don't drink carbonated beverages so I can still get the energy from this, just mixed in with water. It's for performance, energy and endurance. It is zero points. I love this. I love, love, love this. It's great pre-workout, post-workout for that afternoon slump. Zero points, absolutely amazing. Tastes so, so good. So this is a new product that I've been loving to the Clean Simple Eats line. I will link Clean Simple Eats down below with a discount site-wide. Definitely check them out. They make my all-time favorite protein powder.  Here's a meat stick that I've been really loving. I actually took these with me when I went for plastic surgery. These are from the brand Vermont and they're the uncured pepperoni sticks. If you love pepperoni, you will love these. They're turkey-based, so they're low-calorie, low-point, they're really, really good. You know I love knit sticks, which is in my Amazon store. I'll actually link knit sticks down below. That's been my go-to meat stick for years but I really like this one as well and I thought just to change it up a little bit, I love pepperoni and these are a great thing to keep around in your car. To always have on hand for a little quick protein snack and this one, absolutely delicious. These are also absolutely delicious. This is from the brand Favalicious. These are the salt and vinegar fava beans. 14 grams of protein, 16 grams of fiber, delicious, crunchy snack. Reminds me of salt and vinegar chips that are way more healthy. You can have a quarter of a cup for 130 calories. There's two servings in the bag. Sometimes I'll just eat the whole bag, sometimes I'll eat half the bag but it's just a great way to have a crunchy snack that takes the place of a little less healthy potato chip. If you love salt and vinegar, you will love these. They also had different flavors. I found these at Sprouts, love them. I took a bag with me when I went for plastic surgery and I just bought the second bag because I love them. You can see I've made quite a dent in this. This is so good. This is from the brand Carbo Knot and this is the Cinnamon Apple Crumble Granola. I shared this in a grocery haul, took this with me on my trip. I've been eating it pretty much every single day. This is absolutely delicious. It's cinnamon, it's apple, it's granola clusters. You can have a third of a cup for 160 calories. There's only 10 grams of carbs in a serving and seven grams of fiber as well as four grams of protein. Sometimes I eat this all by itself. That's what I did when I was on the airplane actually going to my surgery. I had a serving of this just to snack on on the airplane. You can put this on yogurt. You can make yogurt bowls out of this. Really anything you would use granola for, you can use this in place of traditional granola. It smells so good.  It is really, really delicious and if you want just a lower carb granola option with really clean ingredients, highly recommend. Again, I purchased this at Spouts. Now this is another thing that pleasantly surprised me. I was actually looking for a spread for toast or PB and J sandwiches. That was a little healthier than a lot of those store-bought jellies. And this is the chia smash in strawberry. This is no sugar added and it has chia seeds in it. So you're getting all of the fiber benefits of the chia seeds. It has four ingredients, that is all. And again, only three grams of natural sugar, no added sugar. And it's only 25 calories per serving and I love it. It tastes just like strawberry jam but a much healthier option. I actually ordered this from Imperfect Foods. I'll link Imperfect Foods down below for you. You'll actually get $20 worth of free groceries which is amazing. And you can order the chia smash. They had multiple flavors of this. I'm sure you can find this at some local stores as well but I just always order it off of Imperfect Foods. In fact, this is my second jar. And last but not least for food favorites are these pretzels. These are Ezzels pretzels in Smoky the Gouda. These are so good. They remind me of Dots pretzels but better. They're crunchy, they're flavorful and they have amazing, amazing ingredients. A serving is 130 calories. Clean seasoned, they're non-GMO, no corn syrup, no MSG and they have a natural butter flavor and the Gouda is really good. It reminds me of dipping a pretzel into a cheese sauce. It's that good and they're so, so crunchy. They have a better macro profile than Dots pretzels and in my opinion are way, way better and way better ingredients. I mean, the ingredient list is this big versus this big on the Dots pretzels. Not to mention Dots pretzels have MSG and they also have really unhealthy oils and the Ezzels do not. So I have been absolutely loving these. This is another Sprouts find for me but all of these products you can probably find at your local health food store and I'll try to find them online somewhere and link them down below for you. I have one home favorite before we jump in to beauty and skincare favorites. You guys know that I recently just purchased a cooling comforter for our bed and we have been absolutely loving it. Troy loves it, I love it, the dogs love it. So I decided since I've been sleeping on the couch now for over a week and I anticipate that I'll be continuing to sleep on the couch for several more weeks I decided to go ahead and order myself a cooling blanket. Now I've purchased from the brand Elegear in the past, I've actually shared it here on my channel and they had some new fun designs for their cooling blanket. So I got this really fun black and white kind of tie dyed cooling blanket. I got mine in a king size so I could use it on our bed once I'm able to sleep in the bed again but it has been so amazing on the couch for cooling. I live in Arizona as you know and it's already almost 100 degrees here and I am a pretty hot sleeper. So having this at night has really been game changing for me. It contains the Japanese ArcChill cooling fibers on both sides of the blanket. It's soft, it's breathable, I love the fun tie dyed pattern design.  It also has jade nanoparticles which helps soothe the skin and helps maintain skin moisture and elasticity while we sleep. It is double sided for all year use. The top side is the cooling side and the bottom side is the 100% natural cotton jersey which is safer for a little bit cooler weather say winter or fall. So you can use the blanket year round. It is really the best solution for hot sleepers because it cools you from the inside out and it stays cool all night. I love the tie dyed design. You can simply put this in your washing machine and launder it so it's really easy to maintain and care for and you can purchase it right off of Amazon which is even a better deal. And I actually have a discount for you. I'll put that down below in the description box for you but the blanket is affordable without any discounts and then you get that discount on top of it. It's really been so, so great. It would make a great gift. Father's Day is coming up. This would make an amazing Father's Day gift. I highly recommend cooling things in general from Elegear, the comforter, the pillowcases and most importantly the blanket. I love this. I'm actually going to buy a second one for Troy because I don't know that I wanna share this. So once I actually go back to sleeping in our bed but if summer is a hard time for you when it comes to sleeping or you're a hot sleeper I can't recommend the Elegear cooling blanket enough. I'll link it down below with that special discount for you. So now let's jump into some beauty favorites. First let's start with this little guy right here. This is actually from Essence. This is their new bronzing stick. Now I did a testing new makeup on my beauty channel. If you didn't know I have a beauty channel I'll put that in the description box for you. But this is the Baby Got Bronze Cream Bronzer. This is so good and it's like $5. So I usually apply this to areas where I want to bronze on my face and blend it out. I have used cream bronzers that cost $20 or $30 and this one works just as good. And it has a little bit of luminosity or glow which I appreciate. I love this. I'm actually going to purchase a second one because I've used about half of this already. It's been my go-to cream bronzer and it's from Essence so it's super affordable. So I get asked all the time what lip I'm wearing. This is something that came in a subscription box that I haven't put down since. This is from Wander Beauty. It's the Lip Retreat Gloss and this is in the shade Spring Bright. This is actually what I have on my lips. This is amazing. It's a lip oil but it feels like a gloss. It is not sticky. It is not oily. Like I said, it's what I'm wearing today over a liquid lip from Lower Lee, Los Angeles. I'll put all of those down. I'll put Lower Lee's liquid lip down below for you but this one from Wander Beauty, I love this. I'm going to be purchasing some other shades because it's probably one of the best lip oils that I've used and I also love that it has a doe foot applicator. So Ben loving this. I talk about Glow Recipe a lot. It's actually one of my favorite skincare brands but this is a new product to me this month and this is their eye cream. This is amazing. First of all, I love that there's a pump top so I don't have to dip my finger into it and this is so great for the eyes. It adds hydration, it adds moisture, it adds brightening, helps with dark circles, fine lines and wrinkles. This has been really, really great. It's going to be my new go-to eye cream and like I said, I love anything Glow Recipe. I feel like truly you can't go wrong with Glow Recipe. And then as always, two dossier fragrances for me. I actually took both of these with me on my trip. Like I said, I put dossier on before I go to bed. I just like to smell good overall and knowing that I was going to be having some surgery, staying in the hospital, recovering. I wanted to make sure that I smelled good in the process. So I picked up two new dossier fragrances. Dossier actually replicates high-end fragrances for a much more affordable price. Anywhere from $29 to about $59 before any discounts and I do have a 5% discount, I'll put it down in the description box for you but you can get those high-end fragrances for a much more affordable price. They smell exactly the same. Like I always say, the lasting power may not be as good as the high-end fragrance but for a fraction of the price, you can put a second little coat of perfume on during the day and still save yourself a ton of money. So one of the fragrances that I picked up for me kind of getting into summer is the Fruity Orange. And this is actually inspired by Clinique Happy. Who remembers Clinique Happy? I used to wear that all the time and I love that fragrance. I'm like, where has it been all my life? So as soon as I saw that dossier had Fruity Orange, I immediately purchased this. The top notes are grapefruit, bergamot, tangerine, and melon. So it's very fresh, very fruity. Your middle notes are orange, Lily, green apple, and magnolia. And your base notes are jasmine, musk, and plum.  It just brings me back to my childhood, brings me back to high school. It smells incredible and it's perfect for summer. One other quick side note besides how nice the packaging is is all of the lids are magnetic. So I always keep dossier in my purse because I don't have to worry about it spilling. Clinique Happy vibes makes me really happy. And then the other fragrance is Fruity Brown Sugar. So again, kind of that fruity gourmand fragrance. This is inspired by YSL's Mon Peri Odie perfume. That's a pricey perfume.  I've smelled that perfume at Sephora before. Your top notes in this one are going to be bergamot, raspberry, and pear. So again, those fruity notes, your middle notes are going to be jasmine, orange blossom, and brown sugar. So that's where that kind of sweet gourmand comes in. And then your base notes are patchouli, amber, and vanilla. This smells so good.  So if you like that kind of more earthy smell, you'll really love this with a side note of sweet and fruity. Really, really delicious smells just like the YSL. And again, you can't beat the price of dossier. I always buy too much. I always pick myself up two fragrances every month. I generally go through one or two every month. You'll see that in my empties on my beauty channel. But I've been loving both of these fragrances. The lasting power of these two is really nice. And actually I've been complimenting multiple times out in public wearing these fragrances. So save your money on the high end and buy dossier.  One more skincare favorite that I also fell in love with over the month of May is this one from Pharmacy. This is the Honey Halo Moisturizer. Okay, first of all, I love that it came with a spatula and I really love that it's magnetic and it sticks to the top. So I'm not digging through my drawer looking for the spatula. You can see I've put quite a dent into this. This is an amazing nighttime face cream. It's very luxurious, very hydrating, very emollient on the face. I've been using this before bed and even when I wake up in the morning I can still feel the moisture from this on my skin. It is so good. And I love pharmacy products and I wanted to try this for so long. I love the packaging. I love the magnetic little spatula. This is absolutely amazing. And as always, we're gonna end out May favorites with my favorite eyeshadow palette of the month. And this one took me a little bit by surprise. This is actually from Anastasia Beverly Hills and this is the Primrose palette. Now I actually got this in my ipsy box and I was surprised that I like this as much as I do because you know that I'm very much a colorful eyeshadow girl. And when I first opened it, I'm like, okay, it's pretty but it's neutral. This is such a great palette. You actually have two blushes and then you have 10 eyeshadows. She's neutral but there's some berries, there's some purples, there's your basic like neutral brown shades, there's some pinks. These blushes, I really love them and I've used them both on the eyes and they work fantastic. I actually love this for travel. So I took this with me when I had surgery because it's blush and eyeshadow in one palette and I love this more than I thought that I would. I'm not always the biggest fan of ABH shadows because they can be a little bit powdery but this one performed absolutely beautifully. I have been loving this surprisingly. Loving a neutral palette from ABH, really who am I? But this became a fast favorite. So those are all of my May favorites. Whew, we had a lot of them this month. Of course, everything is linked down below for you. All you do is click the link, use the discount code, save yourself some money, do some shopping. I'll put everything in the description box along with nutrition coaching, links and discounts to my other favorite things, my Facebook group, it'll all be down below for you. And let me know if any of my May favorites are your favorites.  Again, subscribe if you're not because we do a favorites every month and I do upload five videos every single week. Thank you so much for watching and I'll see you in the next one. Bye.


Hi. Hi. So my name is Zifat Afak. I'm a system architect in Nokia and the PTL of the Open Stack Vituage project. And I'm going to tell you today about the journey that we've made in this project in the last year and a half. So just a short introduction about Vituage. Vituage is an official service for root cause analysis. It helps the cloud administrator understand and organize and manage the faults of the cloud. A cloud administrator that has a fault in the cloud might see a very long list of alarms. And it may be hard for him to understand what is the root cause for all these alarms. And this is where Vituage can help. Another role of Vituage is to report alarms about problems that are not directly monitored. For example, in case of a physical nick failure, Vituage can deduce that there is a problem with the instances that are not reachable and raise alarms on the instances. And if the instances are used by applications, then also raise alarms on the applications. Vituage provides an holistic and complete view of the system where you can see the physical layer, the virtual layer, and the application layer, the relationships between these layers and the effect they had on one another. A bit about Vituage history. It was initiated in November 2015, just after the Mitaka Summit in Tokyo. It was accepted to the Big Ten six and a half months later in the first of June 2016. The first official version was Newton, OpenStack Newton. And since the beginning of this year, it is used as part of Nokia products, commercial products, and it's running in production. And now I'll start telling about our journey. So Vituage started with the Nokia Cloudband product. As part of this product, we had the root cause analysis project. I was part of the insight team and we wrote a Java code for managing root cause analysis. Everything worked well. The project was successful. But since Cloudband worked tightly with OpenStack, we started thinking that maybe the root cause analysis belongs in OpenStack and not as a proprietary Nokia code. So this was how Vituage was born. We decided to create a new project in OpenStack for root cause analysis and we started checking whether it was feasible. The first thing, the first step before even checking the feasibility was to find a name for the new product because we needed to call it somehow. And we actually made a poll. Everybody suggested names and we had a poll and the winner was Vituage. And only much later we realized that a lot of people don't know what Vituage means. Vituage is a French word for stained glass window. It's a window made of small pieces of glass with different colors. And when you look at each piece, you see just a colorful piece of glass. But only if you stand back and look at the entire window, you can see the whole picture. And this is something like Vituage is doing. Vituage tries to see the entire cloud environment, all of the alarms and make reason out of it. Vituage is a French word, but we thought it was an international word but apparently we need to explain people again and again what it means. And about a few months ago, we had to choose a mascot for the project as part of OpenStuck mascot selection and we selected a giraffe. So the giraffe, its skin is a bit like a Vituage. It's made of different pieces and we asked to get a colorful giraffe. And the giraffe is also very tall so it sees everything from above. Again, this is something that resembles the work that Vituage is doing. And actually we had other ideas for mascots. We wanted a tree like with root cause, very big roots for the root cause and food for the reduced alarms. But Sandin got a forest. We said they told us we can't get a tree. And we wanted a suricata which is always on alert but telemetry product also wanted a suricata. So I think that our giraffe is best and actually this picture was taken yesterday in Boston. So it's a seven meter tall giraffe out of Lego. So now we know that Boston welcomes our product. So we went to the Tokyo Summit, a very big group of people from Cloudband and our goal was to check whether we should really get going with this project. So we met key people in OpenStack and we tried to first understand if there is something similar in OpenStack because we didn't want to start doing something that another project was already doing. And we actually got the blessing of the community to start going. So we understood that indeed this functionality is lacking in OpenStack. There is no root cause analysis in OpenStack and there was a real need for our project. So we hit the road. We started working and we were not experienced with OpenStack and it wasn't so easy to get started. We started with a very big force and we had more than 10 developers working on Vitrasch, some of them on the Vitrasch core, some on the Vitrasch dashboard. We wrote plugins for Horizon and we knew mostly Java, so we had to learn Python and we had a lot of experience with root cause analysis. So we knew what we wanted to do but when we started doing the designs, it wasn't so easy as we expected because Python has its own limitations and different kind of designs. And in the beginning we wrote a lot of blueprints. That's the OpenStack way for doing design documents. And I mean, we wanted to write the blueprints for the design but also we hoped that other people may review our blueprints and comment and improve them. So after finishing the blueprints and as part of writing the blueprints, we had to get used to all the OpenStack way of working, the GitHub and the GoWit and the Launchpad and it wasn't really easy in the beginning. But as a new project, it was important for us to follow the OpenStack guidelines from the first day and later on when we were accepted to the big tent, we understood that we did it the right way because if you start working not by the guidelines, changing it later, it will be much harder. Okay, this is a picture from the Vituage First IRC meeting. An IRC meeting is a chat meeting that every project is supposed to do a team meeting on chat once a week. And we did it just before we even had one line of code. We had the IRC meeting.  Each one brought his own laptop and we were chatting with each other instead of just talking. And it felt like a complete fake. It felt ridiculous, but on the second meeting, we had a guest that actually interfered with our conversation and started asking questions. So what I'm trying to say is that it doesn't feel right to sit with your colleagues and chat. It feels very strange. But it gives other people in OpenStack the opportunity to listen and to participate in the conversation. And for months, we were actually talking to ourselves this way and I was a moderator, like I was saying, hey, did you see what the other guy wrote? And maybe you should respond to him.  And now we have other contributors and the meetings are interesting and we have real IRC meetings today. But this was the beginning. So I talked about the IRC meeting. In addition, we have an IRC meeting, a channel, OpenStack-vitrage, which is an open place where everybody can come in and ask questions about the channel. And similar to the IRC meeting, I was alone on the channel with some OpenStack boards for months. Nobody entered the channel. I tried talking to my team members, say maybe you should enter the channel, but they tried to enter, so nothing was happening and didn't enter again. Until the first person came and asked a question and we were so excited, somebody is talking to us on our IRC channel and today we have like 15 people on the channel and if you come and ask a question, you will get the first response. Another issue regarding the community handling is the mailing list and this is similar. If you want to, we wanted to talk to each other and discuss design issues or problems or compilation problems or whatever and we tried to do it in OpenStack mailing list and it was strange because we could just talk to the person sitting next to us, but in many cases we did send an email and then when we were in Barcelona summit six months ago, we actually, people came to us and say, yeah, we know about vitrage. We were reading your emails on the mailing list and we didn't know that these people were reading our emails. They never replied to the emails, but I mean, it was worthwhile to send these emails and publish vitrage and get others the chance to understand what we were doing and to get involved. And the first real contribution was in August 2016. We currently have a contribution from ZTE as part of the vitrage project. I mean, as you may know, we have occasional contributors, people that come and fix typos, but real contributors were ZTE. Vitrage as part of what it's doing, it depends on many data sources. So the vitrage gets information from OpenStack projects and from external monitors, combine it in a topology graph and this is the baseline for understanding the cloud and getting insights about it. So from the beginning, we had integrations with many OpenStack projects and we used this information to have root cause analysis about the cloud and other than the OpenStack projects and external monitors, we had a very important collaboration with OPNFV. So OPNFV is a main project which is called the Doctor Project. It's defined specification for fault management in the world of NFV. And we realized that the Doctor Project and vitrage have a lot in common. We read the specification of the Doctor Project and it has a component named the Inspector and the role of the Inspector is exactly what we were doing in vitrage. So we communicated with the Doctor team and we collaborated with them from the beginning and I think both sides benefit from this collaboration. Back in the Tokyo Summit, first place where we initiated vitrage, we had a meeting with Doctor team. We got very positive feedback that what we were going to do was really needed and we presented vitrage to Doctor in OPNFV Hackfest in Santa Clara and then we had in two OpenStack Summit, we had common presentations with vitrage and Doctor. And in addition to Doctor, we now have collaboration with OPNFV Borometer Project and yesterday we had a session with them about the collect the integration with vitrage and the highlight for the OPNFV and vitrage collaboration was in Barcelona Summit, the keynote demo where Hector and Ilico were talking on the phone and Mark was cutting the cable with giant scissors and the phone call was not disconnected thanks to the Doctor and vitrage handling of fault management. Okay and then just six and a half months after vitrage was started, it was accepted to the big tent, it was a major achievement because it happened very quickly and it happened overnight. I submitted a request and for about a week or two I got no response but then there was a technical committee meeting and on the very first meeting with no arguments they just accepted us and when I wrote the request I looked at other project requests, I looked at projects that got into the big tent and also on projects that did not get into the big tent. So when I wrote on the request I had a few points that were important. I described the project, I had like a checklist of all the things that we are doing by the book, that we are doing the open-stack way, I listed them all and one major thing was that I described the community interest in vitrage because writing a project is not enough, you need to show that it belongs to open-stack and if it interests the community then it should be an open source and then after it was accepted to the big tent, the next release about two months later was a Newton release, I mean vitrage was released in Mitaka and it was a stable release with a working functionality but it was not official and in Newton we had to make an official release and as a new PTL I didn't know how to do it so I tried to release it and it was redacted, I didn't do it right and I tried again and again it wasn't right but eventually we have a release for Newton which is good and I mean by now we already have Ocata and we are working on Pike of course and from the beginning of this year, vitrage is already used by Nokia product running in production and so it is a stable product that can be used both open source or used by other companies and we have of course many future plans, we have all the basic functionality in place, the engine is working but we have a lot more to add, very interesting roadmap and we would like to add root cause analysis history meaning if I see an application failure and this failure is a result of a problem on the host that was yesterday and the problem on the host affected the instance that is used by the application and the problem on the host is already solved but the application did not recover, we would like vitrage to show it that the root cause is no longer there but that's the root cause and we have an alarm aggregation for example in the vitrage UI, we would like to show only the root cause and then you can click and drill down to the related alarms we need to improve the UI, the usability of vitrage, the entity graph is a wonderful feature which shows you a lot of information but we need to add some filtering on top of it and on Pike version, we started writing a machine learning algorithm, we have a very first version of it, we want to automate the process of understanding the root cause of alarms, currently we have a human-editable templates that define the root cause and deducing of new alarms in the system, we want the process to automatically understand this and this is a new thing that we started very promising and very interesting and with a lot of future and actually just after this session we have a forum session on room 102 and we are going to discuss in detail some of these future projects and the major goal is of course to extend the vitrage community, we already have a community but we want more companies to be involved and more contributors to join us and this is just the beginning of the journey, we hope to have on the next summit some to tell you some more about the rest of the journey and now like I just gathered a few tips from our experience of the things that we did right and what you can do if you want your project to enter the Big Tent so you should start with the research I mean you should define your goal, your use cases what you are trying to solve and verify that it is really needed you need to check other projects in OpenStack and see that there is no one else that is currently doing the same thing because you can have another project doing the same thing but it will be harder to be accepted into OpenStack and you might just as well join the existing project you want to, if you think that you passed this stage you should go and talk to key people in OpenStack you should identify the people that are doing relevant things talk to them, gather feedbacks maybe get some good advice and let the community know that you are going to do something and start building your relationship, your community and the guidelines when we started before we even add one line of code we checked the guidelines because when you start working correctly everything will work smoothly but if you start working different than the guidelines of OpenStack it will be harder later to change the way you work and sorry, it will make your process of entering the Big Tent harder and when you submit a request to enter the Big Tent they will check your history and you need to show that for a few months you have a history of weekly IOC meetings and you have an history of email exchange and you need to prove that you are involved in the community and not just sit in your own office and write your own code because if you do this you can have proprietary code you don't need to be part of the community and then after you have all this in place sorry, then you can start coding which I guess is what you wanted to do in the first place and you can start writing your project which I guess by now you know what you want to do and unfortunately coding is not enough you need, there is some overhead you need to write blueprints which are the design documents it's not just a matter of design when all these blueprints appear in an official site of OpenStack so when people go and want to understand what you did they will go and look for the blueprints it's very important to have a nice documentation the developer guide I mean there are different kind of documentation in OpenStack the developer guide is one of them there is user guide and installation guide but a developer guide is meant for people trying to use developers trying to use your project if you don't have good documentation they will have a hard time using your project and it's your interest to help other people get involved as easy as possible and writing documentation is not fun but it's extremely important and tests are similar it's not fun writing tests but you need unit tests and integration tests it's very important that if you especially when the community grows and people that you don't know so well start contributing code you need to have a good test say the gate that you can be assured that if the test is not broken then the code is probably okay and communication communication, I already talked about it you need to have the weekly RSE meeting and to communicate using the OpenStack mailing list and it feels like you are talking to yourself okay, talk to yourself we realized after a very long time that people were listening to what we were saying and even if everything is recorded if you send an email there is a chance that one day someone will Google and find it and someone may go to the history of your RSE meetings and see what you are talking about and it gives people a chance to get involved in your project you want people to know your project and one way of achieving it is by collaborating with other projects so you need to find similar projects or projects that the integration with your project can make both sides benefit and have better functionality of course the first place to look for is other OpenStack projects but there could also be other open source not OpenStack projects we found similarities with OP NFV community but there are other open source communities and the more collaborations you have the more people know your project and it becomes something that makes more added value to more people you want more code contributors to join your project you do it by everything that I already mentioned I mean you send emails, you collaborate you make it easy for them to join so documentation is important also in OpenStack there is the concept of tagging bugs as low-hanging foot you can find very easy bugs and put a tag on them, low-hanging foot and there is an option in OpenStack to search for such bugs and we had developers that actually found low-hanging foot bugs and started going and fixing them so it gives people, new people an easy opportunity to get to know your project and do the easy fix and then they might decide to stay and fix more complex bugs doing PR, presenting your project is of course important whenever there is an OpenStack summit or other relevant summit not only OpenStack you try to submit a proposal to present your project use every option to present and publish your project and then there is the matter of finding the right time to submit a request to get into the big tent and it's not, I mean there are different aspects there is no exact right date to do it of course but before you submit your request you need to check the guidelines again and make sure you didn't miss anything if you miss something it's not that bad you submit a request in Go-Eat they may give you a comment that you need to fix something and then you can fix it and if it's something procedural you can fix it and the request will be re-evaluated but if it's something big problem like you didn't do any public emails or any IRC meetings then you might have to wait a few months so we better check before submitting you need to have some working code it doesn't have to be perfect there could be bugs some functionalities can be missing it's okay what's important is to show that you are actively working on this project and this project is interesting and you are contributing and you have a roadmap so the actual state of the project regarding how stable it is this is less important and you need to show the history of IRC meetings and the history of emails and very important you need to show that someone except you is interested in this project because if you want to get into the community you need to show that the community is interested in what you are doing and good luck if you are going to do this and we are presenting vitrage today in Nokia booth and we will be very happy to hear from you either on IRC or on the emails or whatever we want we have a wiki page with a lot of information and demos and documentation and if you have any questions I'll be happy to answer okay thank you


Some people address Sardarvalabhai Patel as the Bismarck of India. For people who do not know, Bismarck was the chancellor of Germany who played an important role in the unification process of Germany. According to me, it is Bismarck who must be called the Sardarvalabhai Patel of Germany. Because the task performed by Patel far outweighs the task performed by Bismarck. Patel helped in the unification process of India and also prevented the Balkanization of India. So, in this short video, we will see the roles performed by Patel in the pre and post-initial period. See, Vallabhai Patel was born on 31st October 1875 in Nadiyad, Gujarat. He was a successful lawyer by profession. In 1918, Patel's life had encountered a turning point when he was chosen by Mahatma Gandhi as his deputy commander to lead the Kedah Satyagraha. This event has turned the trajectory of his life towards the path of public service. Know that Kedah Satyagraha was launched against the 23% tax increase by the British government. See, this tax was forced on the peasant-patidar community of Kedah despite a crop failure and outbreak of plague and cholera. This Satyagraha was successful as the British consented to minimize the tax raise and accepted to postpone the tax raise the following year. After that, Vallabhai Patel became increasingly involved with the struggle for India's independence. In 1928, Patel led the Bardoli Satyagraha. This demonstrated Sardar Vallabhai Patel's organizational capacities and tireless resolute. It was here he earned the title Sardar. Know that Bardoli Satyagraha was an agrarian movement to support the farmers of Bardoli, Gujarat. See, they were protesting against the unfair increase in taxes by the British government despite the situation of flood and famine. This movement was also successful as the British established the famous Maxwell-Broomfield Commission to investigate the matter and subsequently the tax percentage was reduced. Following the success of Bardoli Satyagraha, Vallabhai Patel had grew into a true national leader. In 1931, Patel had presided over the Indian National Congress session which was held in Karachi. It is in this session the resolution on fundamental rights was adopted. Another important event that occurred in session was the endorsement of Gandhian Irvind Pact. See, the Gandhian Irvind Pact was signed to ensure the participation of Indian National Congress in the second round table conference. It also stopped the civil disobedience movement in India temporarily. These are the some of the important roles played by Sardar Patel in the Indian National Movement. Now moving on, let us see his role in the integration of princely states in India. See, on 15th August 1947, Sardar Patel took oath as the first deputy prime minister as well as the first home minister of independent India. During that time, there were many challenges presented in front of him. Mainly, the problem of accession of princely states into India. See, in June 1947, Jodhpur attempted negotiations with Pakistan for better terms. But later on, with great efforts of Patel and after several meetings and negotiations, finally Jodhpur was integrated into India. Subsequently, in July 1947, Trivancore had announced that it would assert its right to remain independent. But due to Patel's diplomacy and statementship, eventually the Raja of Trivancore had accepted to integrate into India. Then comes Junagadh. See, the Nawab of Junagadh initially decided to join Pakistan even though the people of Junagadh opposed it. Finally, in February 1948, Junagadh was integrated into India with Sardar Patel's resolute efforts. Then comes Hyderabad. See, the Nizam of Hyderabad had initially signed agreement with the government of India to maintain a temporary status quo on accession. However, communal tensions and violence in Hyderabad state prompted Sardar Patel to take action. Then the Indian army was moved into Hyderabad under Operation Polo. This operation was mainly done to integrate Hyderabad into India. Finally, in September 1948, the Nizam announced a ceasefire and Hyderabad was absorbed into the Indian Union. Finally comes Jammu and Kashmir. See, Raja Hari Singh of Kashmir had been undecided about accession. However, in October 1947, when Kashmir came under the attack of Pakistan, the Raja sought assistance from India. Sardar Patel as the Home Minister extended the help of India and in return, Raja Hari Singh signed the instrument of accession with India. Due to these efforts, Sardar Patel has earned the title of Iron Man of India. It is due to the efforts of Mr. Sardar Patel, India maintained internal stability in the initial years of its formation. This is why the National Unity Day or the Rashtriya Ekta Divas is celebrated every year on October 31 to commemorate the birth anniversary of Sardar Vallabhai Patel. To learn more about India's national movement and also about the towering leaders of India's national movement, listen to Daily Hindu News Analysis by Shankar A. Sakadami. And to get more updates regarding UPC preparation, subscribe to Shankar A. Sakadami's YouTube channel. Thank you.


George Bush is doing some satellite TV transmission or some kind, and Barbara is standing in for George, if that's all right with you. Wonderful. She said she would like to come and stand in for George. I figured that would be fine with you. Okay. Yeah. Yes, sir? Yes. We need to find the person that would describe me in front of me, Barbara. This is my son. How are you, sir? This is Nancy Baker. How are you? It's so nice to see you. You know her. I do. So? This is my daughter, Elizabeth. Nice to see you. My son, Doug. Nice to see you. And right over here is Keegan Baker. Hi. Nice to see you. This is Will Winston. Nice to see you. How are you? And Reba Baker. Hi. Nice to see you. How are you? This is my son. Nice to see you. Will Winston? No. Bo. I mean, Bo Winston. John Baker. John Baker. Nice to see you. And you know Susan and you know him. Hello, Mr. President. Oh, Will Winston. You're going away. Do you have so many children? Yes. I thought you were here. I thought you were here. I got inspired. Yes, we're going to now recreate that. I just want to hear it just with Mr. Bush, the Attorney General and the President. We're going to be broadened. That's what you're doing. We won't let you know. I don't think I should be in the middle of this. Shouldn't he be in the middle of this? No. No. We need to do it. This way a little bit.  That base. That's not him. That's not him. That's not him. That's not him. That's not him. That's not him. We need to break down that wire at the target. I want to be here. I want to be featured. We're representing him. We'll stand here for about two minutes. That's growing. I've been jaded back with a third disarmament which supports and defend the Constitution of the United States. That I will support and defend the Constitution of the United States. against all enemies far and in the domestic. Against all enemies far and in the domestic. That I will bear true faith and allegiance against them. that I will bear true faith and allegiance to the same. That I take this obligation freely. That I take this obligation freely. Without any mental reservation for the purpose of evasion. Without any mental reservation or purpose of evasion. And that I will well and faithfully discharge. And that I will well and faithfully discharge. The duties of the office on from John and Dr. Ender. The duties of the office on from John and Dr. Ender. So help you, God. So help you, God. Congratulations. Thank you very much.  Okay. Family over here please. We're having a little war, so that's good. You stay right where you think that's good. Thank you. Thank you. Thank you. Thank you, sir. I told you that wasn't true. You're the first. Thank you. You're the first. Thank you. Thank you. Thank you. I really feel like I just did that. I'm so happy for you. I'm so happy for you. Woo! It's always going to have a hot food period. There we go. Let us have the three first, Let's get the president in here. Thank you very much, Mr. President. I appreciate that. Thank you. Thank you very much. Tom Dawes. Hi, Mr. Carson. I met you in 1969 once when you talked to a group of Stanford students while you were governor of the San Francisco Air Force. I was just saying to Kathy that who would have thought 16 years later? I think I remember very well. At the airport? Yeah, and you had a quiet series of meetings with different students and they collected about a dozen Stanford students and I was one of them. That's when we had to be careful because the students would burn me at the stake if they could catch me. Not anymore. Not anymore. He was one of the few right-wingers at Stanford. Thank you. Well, you'll see him from time to time. He's down there with me. Thank you very much.