Reid Hoffman is an American entrepreneur who co founded LinkedIn, a tool many use as a professional networking site. Let’s look at some unknown facts about Hoffman.
Unknown facts about Reid Hoffman
1. Reid Hoffman’s parents used to attend tear gas demonstrations when he was a child and took Hoffman along with them on several occasions.
2. At the age of 14, Hoffman grew tired of his local school and applied to a private school called the Putney School, without the knowledge of his parents.
3. Hoffman is the reason Facebook got a $ 500,000 investment from Peter Thiel, the co founder of PayPal. Reid Hoffman was the person who arranged a meeting between Facebook’s Mark Zuckerberg and Peter Thielheil, a good friend of Hoffman.
4. Hoffman organises “The Weekend To Be Named Later,” an off the record conference, where a group of individuals discuss ways in which they can bring positive changes in the world.
5. Hoffman plays board games as a way to relax. He calls Settlers of Catan his favorite game, as the techniques of the game are related to business management.
6. At work, Reid Hoffman uses big computer screens, which he claims, help him see his ideas very clearly and assist him in getting his work done quickly.
7. Hoffman and his wife Michelle Yee decided against having any children because of Hoffman’s heavy workload, which would not allow him to commit to his children.
8. Hoffman’s close friend Peter Thiel is committed to help Hoffman lose weight. According to Thiel, Hoffman has always spent a lot of time working and in the process, neglected his health.
Reid Hoffman is a true entrepreneur who is constantly looking for ideas to innovate companies and is an inspiration to many.
Which fact about Reid Hoffman surprised you the most? Comment below and let us know.
Gucci Unknown Facts
Gucci, the famous Italian luxury brand known for its innovative designs, is adored by many. Gucci is considered one of the most valuable brands in the world, with a brand value of $ 18.6 billion. Here are some unknown facts about this reputed Italian brand.
Unknown facts about Gucci
1) Gucci was founded by an Italian fashion designer named Guccio Gucci. Guccio Gucci was in his 40s when he started his business. He was inspired by celebrities like Marilyn Monroe, Frank Sinatra and Winston Churchill, whom he met while working as an elevator operator at London’s Savoy Hotel. Guccio wanted to create a brand which would be adored by every celebrity in the world.
2) It is well known celebrities around the world are huge fans of the brand. However, American rapper 2 Chainz took his Gucci obsession to the next level when he said, “When I die, bury me in a Gucci store.”
3) Gucci is famous for its floral scarves. These scarves were designed by Guccio Gucci’s son Rodolfo Gucci for famous Hollywood actress and Princess of Monaco, Grace Kelly.
4) The Company suffered from bankruptcy after news of Aldo Gucci’s tax evasion was made public by his son Paolo Gucci. To control the damage caused by the scandal and to boost its sales, the Company hired famous American designer Tom Ford as its creative director. Tom Ford modernized the brand and increased its sales by 90 %.
5) In 1998, a jeans created by the brand found a place in the Guinness World Records as the most expensive jeans in the world. Named “Genius Jeans,” it was sold for $ 3,134 in Milan. However, the record was then broken by Levi’s, which sold a pair of jeans for $ 60,000 in 2005.
6) During World War II, when Italy was under the rule of dictator Benito Mussolini, the brand found it difficult to acquire leather. This forced Gucci to experiment with other materials like silk and bamboo.
7) In 2017, Gucci became the first brand in history to host a fashion show at the famous Westminster Abbey in London.
Which of these unknown facts about Gucci surprised you the most? Comment below and let us know.
Ex Facebook Employee Reveals How He Made $ 1 Million In A Year
Patrick Shyu, a YouTuber who previously worked as a tech lead at Google and software engineer at Facebook, uploaded a video discussing his income after leaving the giant companies.
Shyu, whose channel TechLead has more than 500,000 subscribers, said in the video while others prance around in their business suits, driving Jaguars and acting self important, he made a million just by sitting in his toolshed, sipping coffee.
Shyu was able to generate such a huge amount from two primary sources—YouTube, which Shyu considers his main job and Facebook, which is his “side hustle gig.” By making YouTube videos, Shyu made over $ 240,000 from ad revenues over a period of 12 months and another $ 260,000 from affiliate sponsorships. While at Facebook, Shyu made a total of $ 500,000 from base pay, bonus and equity, before getting fired. After adding both the incomes, the total comes to a million dollars a year, Shyu explained in the video.
Even though making a million may sound easy, Patrick Shyu discussed how difficult it is in reality. Shyu had to work 80 hours a week continuously. This included working from 8 A.M., to midnight every day, including Sundays. While Shyu urged people not to follow his footsteps, he did acknowledge how beneficial it is to have a second job to boost one’s income.
Patrick Shyu admitted he was able to make more money as a YouTuber than he did working at Google and Facebook. However, there is a downside to earning such a large amount as one does not have enough time to enjoy the money they are earning. In Patrick Shyu’s words, he had to sacrifice gaming, movies and spending time with family in order to earn the million dollars.
Earlier, Patrick came into the limelight when he uploaded a video titled Day in the Life of a Facebook Software Engineer. In the video, Shyu explained the reason behind him getting fired from Facebook was his YouTube channel. He further explained the Human Resources at Facebook did not like his YouTube channel, resulting in him being fired. In the same video, Shyu also ridiculed the work culture at the Company.
Even with the disadvantage, Shyu put more emphasis on how important establishing a business is. He concluded the video with the statement that there is always a fear of being replaced when working under someone. However, working on your own business gives you the freedom of generating as much revenue as you want on your own conditions.
The Rapid Growth Of OYO Into India’s Biggest Hospitality Chain
OYO, the famous Indian hotel chain, entered the US market in June 2019 and in just four months, was able to acquire 100 hotels under its management. It also stated it adds one hotel a day to its chain and plans to invest $ 300 million in the US market. The Company, in a short period of time, was able to expand to over 60 cities in the US, including Las Vegas, Houston, Seattle and Miami. It also opened a 35,000 square foot casino called OYO Hotel and Casino.
The Gurgaon based startup has been rapidly growing since its inception in 2012. Founded by Ritesh Agarwal, the startup was initially called Oravels Stays, which enabled listing and booking of budget accomodations. After extensive research, Ritesh Agarwal decided to change the name of the company to OYO a year later. The startup also secured a funding of $ 100,000 from PayPal co founder Peter Thiel, just after being launched. OYO has successfully raised $ 1.5 million from global investors ever since.
Within a span of 7 years, the Company has grown globally, with its presence felt in 500 cities across 10 countries. It has over 17,000 employees globally. Today, the Company has over 173,000 rooms under its management and is considered to be India’s largest hotel chain. OYO has also become the world’s third largest hospitality chain.
The Company’s growth can be clearly seen from its 2018 annual report. OYO reported the Company saw a three fold growth and earned a revenue of Rs. 416 crores from its operations in India.
With the Company growing so rapidly in such a short period of time, its founder, Ritesh Agarwal, aims to make OYO the largest hotel chain in the world by 2023.
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