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# Lululemon Founder Chip Wilson: Redefining wellness and the athleisure industry
- URL: https://www.ceo.com/episodes/lululemon-founder-chip-wilson-the-rise-of-athleisure-and-the-vision-at-lululemon/
- Published: 2023-06-08T10:00:02.000Z
- Updated: 2026-09-01T23:48:08.000Z
- Description: Thirty months before the proxy fight, the founder sat down with the CEO.com Podcast and laid out the case.
- Author: Clint Betts

# Chip Wilson told us what he was going to do to Lululemon

In June 2023, Chip Wilson was sitting in his office in Vancouver with a whiteboard behind him. In his handwriting, he wrote a sentence about providing components for people to live longer, healthier, happier lives. He said that was his life purpose. His business purpose was a longer sentence about elevating the world from mediocrity to greatness for 20-to 40-year-olds through technical apparel and shoes. He said he makes every decision against it and tries not to veer far.

Then he spent 40 minutes on the CEO.com Podcast explaining what was wrong with Lululemon.

The board could not see the future, he said. It did not understand the company's own sales process, which he described down to the second: a customer looks at a garment for six seconds, an educator spends a minute and a half explaining it, she tries it on, she leaves. Anything that does not fit inside that loop is a distraction. Skincare did not fit. Mirror, the home fitness screen Lululemon bought in the middle of the pandemic, did not fit. He guessed a private equity director on the board had pushed the deal and recused himself from the vote. The company kept a billion dollars in the bank, he said, because no one knew how to spend it and they feared a dividend would signal as much. It had become merchant-led rather than design-led. It was turning into the Gap.

He had written a book, [*Little Black Stretchy Pants*](https://www.cbc.ca/archives/b-c-billionaire-chip-wilson-uses-his-backside-to-sell-unauthorized-story-of-lululemon-1.4863855?ref=ceo.com), to say all this to the directors in private. It had not worked. 

Two and a half years later, he said it in an SEC filing. On December 15, 2025, he gave the board a framework for resolution, and when it did not answer, he [nominated three directors on December 29](https://www.sec.gov/Archives/edgar/data/1397187/000119312526083656/ck0000000000-ex99%5F1.pdf?ref=ceo.com) and filed a proposal to declassify the board. In a February letter to shareholders, he wrote that the heart of the issue was a disconnect between the company's creative engine and the board's oversight of it, and that brand, creative, and marketing skills were missing from the boardroom. The stock had lost nearly half its value in five years, roughly $20 billion. His nominees were former On co-CEO Marc Maurer, former ESPN marketing chief Laura Gentile, and former Activision Publishing CEO Eric Hirshberg.

He wanted a Brand Product Committee, modeled on a structure he says works at Amer Sports for Wilson and Arc'teryx. It would sit between board meetings and give focus to product without supplanting the full board. The board rejected it. Wilson wrote that the rejection reflected how little experience the directors had in running creative brands. It is the podcast argument converted into a governance demand.

Lululemon answered on May 18 with a [letter to shareholders](https://www.sec.gov/Archives/edgar/data/1397187/000121390026058118/ea0281698-10.htm?ref=ceo.com) saying Wilson held outdated perspectives about how to position the company, and had troubling conflicts of interest, and that his actions had damaged the brand and harmed the shareholders, guests, and employees he claimed to speak for. That same day Wilson [published the board's own eight-point term sheet](https://www.sec.gov/Archives/edgar/data/1397187/000119312526233115/ck0000000000-ex99%5F1.pdf?ref=ceo.com) from a May 13 email, alongside his response to each item in a side-by-side table. He had agreed to all eight in principle. He refused pocket resignations for his nominees and wanted his expenses reimbursed.

He lost both points. The [cooperation agreement signed May 27](https://corporate.lululemon.com/newsroom/press-releases/2026/05-27-2026-123017044?ref=ceo.com) seated Gentile and Maurer after the annual meeting, with a third apparel product director to come by October 1\. Wilson, who owns about 8.7 percent of the company, took a standstill and non-disparagement clause running until 30 days before the nomination deadline for the 2028 meeting. Gentile and Maurer each [signed a conditional letter of resignation](https://www.sec.gov/Archives/edgar/data/0001397187/000121390026061535/ea0292407-defa14a%5Flululemon.htm?ref=ceo.com) that takes effect if the agreement terminates. In place of expense reimbursement, Lululemon is paying for athletics, art, and landscaping at Kitsilano Beach in Vancouver, where the company was founded. He did win the declassification: the company agreed to recommend a vote.

Heidi O'Neill, the former Nike executive, starts as CEO this month. Wilson has not had a job at Lululemon since 2015.

He has a theory of the company that predates all of this. His father was an assistant gardener at the Esalen Institute in Big Sur and took the est training that later became Landmark. Wilson crossed Landmark's language of choice and responsibility with *Good to Great* and *The 7 Habits of Highly Effective People* and turned it into about 30 defined terms that every new hire learned. In his estimate, the workforce was 95 percent women between 22 and 26\. He believes the shared vocabulary is why they could grow as fast as they did, and why the stores could have "very, very open discussions about absolutely everything."

The clothes came out of Westbeach, the surf, skate, and snowboard company he started in 1979 and sold in 1997\. He had made a base-layer tight for women to wear under snowboard pants. When he walked into a yoga class and watched it go from six people to 30 in a month, he realized he already had the fabric. He raised the Lycra content from three percent to 12 percent, pre-shrank it, added an antimicrobial finish, and bought Japanese flat-seaming machines that let him move seams away from the armpits and inner thighs. His phrase for the target was "West Coast function with Italian styling." His muse was a 32-year-old single professional woman with a condo, a $100,000 salary, and time to work out. He said he built her "out of basically thin air," the way Nike had paid for Michael Jordan.

He does not like the word athleisure. In his book, he wrote that it conjures a non-athletic woman in a pink velour tracksuit at a New Jersey mall. He is more forgiving in person, calling the people who buy technical apparel and never work out posers, then noting that they make up most of the business and that at least they own the clothes if they ever decide to use them.

The exit, in his telling, started in 2012\. He believed the CEO was cutting quality control and raising prices to keep the stock moving. He moved to Australia with his wife's family and waited. Within a year, the company shipped pants you could see through. He came back, helped fix it, and told the board to replace the CEO. The board kept her.

Wilson takes the loss on himself. "I lost control of the board and so I'm responsible, I get it," he told the CEO.com Podcast. A minute earlier he had said the same CEO "had her tentacles deep in Machiavellian principles" and was running a separate agenda with the directors. Both things are true in his account and he does not try to reconcile them.

He does not soften what happened next either. On November 5, 2013, on Bloomberg TV's *Street Smart*, host Trish Regan asked him about pilling. Wilson said [some women's bodies just don't work](https://www.cbc.ca/news/business/lululemon-founder-chip-wilson-says-pants-don-t-work-for-some-bodies-1.2417980?ref=ceo.com) for the pants. "I was probably one of the first people to get canceled," he said on the podcast. In his book, he put it differently: the interview gave the board the ability to reframe him as the weird uncle the family has to put up with. Within weeks, the company announced he would step down as chairman. When his wife and son launched Kit & Ace, the board treated it as a conflict and set up a committee that met two minutes after each board meeting ended, without him. He counted the votes, nine to one, and left. In July 2014 the Wall Street Journal reported that his advisers were [sounding out a buyout](https://www.retaildive.com/news/will-lululemon-go-private/282932/?ref=ceo.com), with a 27 percent stake behind him. He sold half his remaining shares that August, a sale reported at $845 million, and [resigned from the board](https://www.retaildive.com/news/lululemon-founder-resigns-from-board/359463/?ref=ceo.com) in February 2015.

Since then he has mostly been building the thing the company now calls a conflict of interest. In 2018 he [bought 20 percent of Amer Sports](https://chipwilson.com/about/?ref=ceo.com) with Anta, Tencent, and FountainVest, and took it public in 2024\. Amer owns Arc'teryx, Salomon, Atomic, Peak Performance, and Wilson Sporting Goods. He calls Arc'teryx "life and death clothing" and was pleased to report that Wilson makes the NBA and NFL balls and that the name is a coincidence. Bloomberg reported in April that he is [assembling a group of smaller athletic brands](https://www.bloomberg.com/news/articles/2026-04-17/lululemon-founder-chip-wilson-is-starting-athletic-brand-venture?ref=ceo.com) on top of that. He describes his role at all of them as coach, and says the younger people there should take what he knows and reject what no longer applies.

He describes Lululemon the way you would describe a son who moved out. It is in its twenties, he said, arguing with the parent and trying to prove it can be its own person. "Males take a long time to mature."

The conversation ended, as every conversation on the CEO.com Podcast does, with a question about chances. The chances one gives are as important as the chances one takes. Who gave you one?

Wilson was 17 and halfway through his second year at university when he talked to a woman in an airport for an hour. Her husband ran a section of the Alaska oil pipeline. She offered him a job. He took it and, by his own account, spent the time up there reading the top 100 books of all time while trading his life in for money.

About a year in, the Teamsters wanted his position and arranged to have him moved off it. He was sitting in the middle of Alaska with nothing to do when a man came up and said he had been watching him work for months, knew he'd lost the job, and needed someone like him.

"I think at that age, so I must have been 18, maybe early 19, that really cemented in my life that there's a direct correlation between hard work, integrity, responsibility for the job, not lowering myself to the union mentality, but raising myself above it," Wilson said. "I can't say enough for that particular moment."

```chapters
00:00:00 Chip Wilson's Path to Entrepreneurship
00:03:43 Founding Lululemon and Spotting the Market Gap
00:07:09 Branding, Culture, and the Lululemon Movement
00:11:03 Perfecting Fabric and Fit
00:15:23 Defining a Brand's Muse
00:19:10 Life After Lululemon: New Ventures
00:21:51 AI's Impact on Apparel Design
00:25:05 Building and Recruiting an Executive Team
00:27:15 Launching New Products and the Mirror Acquisition
00:34:04 The Boardroom Conflict and Leaving Lululemon
00:40:09 Chances Given and Lessons Learned
```

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Sideways.

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And<00:03:00.414> I<00:03:00.510> just,<00:03:00.992> and<00:03:01.088> I<00:03:01.232> think<00:03:01.393> that<00:03:01.617> gave<00:03:01.794> me<00:03:01.954> a<00:03:01.970> massive<00:03:02.435> foundation.

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And<00:03:04.024> as<00:03:04.425> far<00:03:04.617> as<00:03:05.949> Lou<00:03:06.190> Lemon<00:03:06.526> goes,<00:03:07.329> or<00:03:07.489> even<00:03:07.794> any<00:03:07.954> of<00:03:07.986> my<00:03:08.211> businesses,<00:03:08.772> I<00:03:08.917> think<00:03:09.093> it<00:03:09.158> was<00:03:09.398> Atlas<00:03:09.655> Shrugged<00:03:11.019> by<00:03:11.323> Ayn<00:03:11.500> Rand,<00:03:13.024> you<00:03:13.120> know,<00:03:13.265> about<00:03:13.650> how<00:03:13.826> to<00:03:13.890> make<00:03:14.869> a<00:03:15.334> great<00:03:15.671> product,<00:03:16.778> how<00:03:16.874> to<00:03:17.099> treat<00:03:17.436> people<00:03:17.741> in<00:03:17.821> your<00:03:17.997> company<00:03:18.543> really<00:03:18.864> well.

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How<00:03:20.179> to<00:03:20.387> grow<00:03:20.644> a<00:03:20.724> business,<00:03:21.189> how<00:03:21.365> to,<00:03:21.750> how<00:03:21.846> to<00:03:22.391> handle,<00:03:23.048> you<00:03:23.128> know,<00:03:23.385> setbacks.

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I<00:03:24.811> think<00:03:25.052> this<00:03:25.356> was,<00:03:25.677> um,<00:03:26.478> the,<00:03:26.735> the<00:03:26.879> teachings<00:03:27.296> of<00:03:27.440> Ayn<00:03:27.681> Rand<00:03:28.017> were,<00:03:28.418> were<00:03:28.659> probably<00:03:29.685> fundamental<00:03:30.342> to<00:03:30.502> me,<00:03:30.823> but<00:03:30.983> I<00:03:31.063> didn't<00:03:31.384> realize<00:03:31.865> that.

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I<00:03:32.105> mean,<00:03:32.682> I'm<00:03:32.826> reading<00:03:33.163> it<00:03:33.291> as<00:03:33.452> an<00:03:33.548> 18-year-old,<00:03:34.349> but<00:03:35.151> not<00:03:35.455> really<00:03:35.696> till<00:03:35.856> I<00:03:36.016> reread<00:03:36.369> the<00:03:36.513> book<00:03:36.738> when<00:03:36.834> I<00:03:36.914> was<00:03:37.074> 52<00:03:37.571> did<00:03:37.732> I<00:03:37.876> see<00:03:38.181> where<00:03:38.277> it<00:03:38.421> had<00:03:38.581> such<00:03:38.774> an<00:03:38.918> effect<00:03:39.319> on<00:03:39.463> me.

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Oh,<00:03:40.585> that's<00:03:40.842> interesting.

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That,<00:03:42.028> that's<00:03:42.348> really<00:03:42.461> interesting.

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Atlas<00:03:43.470> Shrugged.

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Um,<00:03:44.913> and<00:03:45.073> so<00:03:45.747> let—<00:03:46.196> I<00:03:46.228> know,<00:03:46.516> I<00:03:46.773> bet<00:03:46.949> you're<00:03:47.093> getting<00:03:47.334> these<00:03:47.638> questions<00:03:48.039> all<00:03:48.119> the<00:03:48.199> time,<00:03:48.520> every<00:03:48.680> interview<00:03:49.001> you<00:03:49.097> do<00:03:49.337> and<00:03:49.402> all<00:03:49.482> that<00:03:49.578> type<00:03:49.722> of<00:03:49.834> stuff,<00:03:50.123> and<00:03:50.203> I<00:03:50.219> do<00:03:50.379> want<00:03:50.508> to<00:03:50.540> talk<00:03:50.796> about<00:03:51.021> kind<00:03:51.197> of<00:03:51.261> the<00:03:51.470> future<00:03:52.385> and<00:03:52.529> what<00:03:52.690> you're<00:03:52.786> working<00:03:53.107> on<00:03:53.252> now,<00:03:53.750> because<00:03:54.055> I<00:03:54.151> find<00:03:54.408> it<00:03:54.536> fascinating.

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But<00:03:55.420> what<00:03:55.660> led<00:03:55.917> you,<00:03:56.222> 2018,<00:03:57.828> to<00:03:57.925> found<00:03:58.310> Lululemon,<00:03:59.354> create<00:03:59.594> this<00:03:59.755> entirely<00:04:00.269> new<00:04:00.494> category<00:04:01.297> of<00:04:01.457> technical<00:04:02.019> apparel,<00:04:03.288> uh,<00:04:03.545> kind<00:04:03.721> of<00:04:03.930> athleisure,<00:04:05.150> maybe<00:04:05.728> it<00:04:05.937> would,<00:04:06.114> would<00:04:06.676> be<00:04:06.836> a<00:04:06.917> word<00:04:07.141> for<00:04:07.238> it<00:04:07.334> as<00:04:07.543> well,<00:04:08.282> which<00:04:08.506> is<00:04:08.683> now<00:04:09.149> a<00:04:09.309> $400<00:04:10.289> billion<00:04:11.975> industry<00:04:12.922> annually.

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Uh,<00:04:15.812> did<00:04:15.989> you—<00:04:16.230> I<00:04:16.246> mean,<00:04:16.615> and<00:04:16.856> by<00:04:16.952> the<00:04:17.097> way,<00:04:17.274> that's<00:04:17.514> quick.

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2018<00:04:18.703> was<00:04:18.799> like<00:04:18.960> yesterday.

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Well,<00:04:21.351> I<00:04:21.447> think<00:04:21.607> you're<00:04:21.752> talking<00:04:22.073> about<00:04:22.313> maybe<00:04:22.570> 1998.

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Oh<00:04:24.559> yeah,<00:04:24.640> yeah,<00:04:25.073> I<00:04:25.153> started—<00:04:26.164> yeah,<00:04:26.725> yeah,<00:04:27.207> that's<00:04:27.399> 20<00:04:27.768> years<00:04:27.961> ago.

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Anyway,<00:04:28.811> thank<00:04:29.132> you.

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That—<00:04:29.533> your,<00:04:30.271> uh,<00:04:30.817> your,<00:04:31.138> your<00:04:31.378> assistant<00:04:31.956> really<00:04:32.116> didn't<00:04:32.357> give<00:04:32.517> you<00:04:32.598> the<00:04:32.742> right<00:04:32.999> numbers<00:04:33.384> there.

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Oh<00:04:34.122> yeah,<00:04:34.362> they<00:04:34.587> actually<00:04:34.924> did<00:04:35.084> say<00:04:35.325> like<00:04:35.566> founded<00:04:36.047> it<00:04:36.272> in<00:04:36.512> 2018,<00:04:38.277> but<00:04:38.374> then<00:04:38.534> it<00:04:38.614> says<00:04:38.999> went<00:04:39.336> public<00:04:39.737> in<00:04:39.818> 2007,<00:04:40.539> so<00:04:40.620> that<00:04:40.780> doesn't<00:04:40.941> make<00:04:41.101> any<00:04:41.197> sense.

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So<00:04:42.064> my<00:04:42.208> apologies.

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No<00:04:43.572> problem,<00:04:44.486> no<00:04:44.631> problem.

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Well,<00:04:45.417> the—<00:04:45.658> what<00:04:45.770> is<00:04:45.978> the<00:04:46.075> foundation<00:04:46.717> for<00:04:46.957> it?

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I<00:04:47.134> mean,<00:04:47.358> there<00:04:47.583> was,<00:04:47.904> um<00:04:49.363> I'd<00:04:49.764> say<00:04:50.084> that<00:04:50.405> at<00:04:50.565> the<00:04:50.645> time<00:04:51.030> it<00:04:51.110> was<00:04:51.287> Nike<00:04:51.607> and<00:04:51.752> Adidas<00:04:52.633> in<00:04:53.066> 1998.

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But,<00:04:55.519> you<00:04:55.631> know,<00:04:55.759> they<00:04:55.919> were<00:04:56.016> shoe<00:04:56.336> people<00:04:56.737> and<00:04:56.817> they<00:04:56.977> were<00:04:57.362> very<00:04:58.500> male-dominated.

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And<00:05:00.584> I'd<00:05:00.809> come<00:05:01.049> through<00:05:01.370> the<00:05:01.402> surf,<00:05:01.867> skate,<00:05:02.187> snowboard<00:05:02.668> business<00:05:02.989> starting<00:05:03.405> in<00:05:03.534> 1979,<00:05:04.736> the<00:05:04.896> ups<00:05:05.073> and<00:05:05.153> downs<00:05:05.554> of<00:05:05.634> that.

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And<00:05:06.099> then<00:05:06.756> in<00:05:06.836> snowboarding<00:05:07.477> was<00:05:07.702> really<00:05:07.878> the<00:05:07.958> first<00:05:08.279> time<00:05:08.519> that<00:05:08.744> women<00:05:09.080> got<00:05:09.337> into,<00:05:10.266> I'd<00:05:11.308> say,<00:05:12.030> you<00:05:12.110> know,<00:05:12.206> sports.

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I<00:05:13.184> mean,<00:05:13.985> it's<00:05:14.130> hard<00:05:14.370> to<00:05:14.450> believe,<00:05:14.835> but<00:05:15.075> even<00:05:15.316> when<00:05:15.476> I<00:05:15.572> was<00:05:15.813> in<00:05:15.893> high<00:05:16.053> school,<00:05:16.454> I<00:05:16.614> mean,<00:05:16.775> the<00:05:16.935> cool<00:05:17.256> girls<00:05:17.720> would<00:05:17.993> skip<00:05:18.394> phys<00:05:18.762> ed,<00:05:19.083> you<00:05:19.115> know,<00:05:19.323> to<00:05:19.420> go<00:05:19.580> smoke<00:05:19.965> cigarettes.

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You<00:05:21.200> know,<00:05:21.344> and,<00:05:21.665> and<00:05:21.810> there's<00:05:22.066> a,<00:05:22.532> you<00:05:22.564> know,<00:05:22.708> a<00:05:22.949> big,<00:05:23.414> big<00:05:23.591> shift<00:05:23.992> in,<00:05:24.618> you<00:05:24.874> know,<00:05:25.276> education<00:05:25.982> for<00:05:26.158> women.

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And,<00:05:27.265> uh,<00:05:27.522> you<00:05:27.602> know,<00:05:28.325> in<00:05:28.405> 1997,<00:05:29.608> I<00:05:29.753> read<00:05:29.913> a<00:05:29.945> statistic<00:05:30.635> where<00:05:30.732> 60%<00:05:31.357> of<00:05:31.534> the<00:05:31.614> graduates<00:05:32.176> at<00:05:32.256> a<00:05:32.336> university<00:05:32.898> are<00:05:33.058> women.

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I<00:05:34.101> knew<00:05:34.262> there<00:05:34.406> was<00:05:34.583> gonna<00:05:34.743> be<00:05:34.904> a<00:05:34.984> big<00:05:35.209> change.

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Um,<00:05:36.974> as<00:05:37.166> I<00:05:37.247> said,<00:05:37.536> I<00:05:37.632> went<00:05:37.776> through<00:05:37.937> the<00:05:38.017> surfskate,<00:05:38.627> snowboard,<00:05:39.381> up<00:05:39.493> and<00:05:39.638> downs<00:05:40.055> of<00:05:40.183> that.

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And<00:05:41.082> then<00:05:41.242> I<00:05:41.339> saw<00:05:41.868> yoga<00:05:42.510> and<00:05:42.751> I<00:05:42.911> was<00:05:43.088> in<00:05:43.168> a<00:05:43.248> yoga<00:05:43.569> class<00:05:44.051> and<00:05:44.131> I<00:05:44.227> saw<00:05:44.468> it<00:05:44.612> grow<00:05:44.853> from<00:05:45.719> 6<00:05:46.056> people<00:05:46.377> to<00:05:46.538> 30<00:05:46.859> people<00:05:47.340> in,<00:05:48.288> one<00:05:48.529> month,<00:05:48.962> and<00:05:49.428> I<00:05:49.991> extrapolated<00:05:50.794> from<00:05:51.035> the<00:05:51.678> circumstances<00:05:52.706> of<00:05:53.140> surfskate,<00:05:53.702> snow,<00:05:54.088> and<00:05:54.233> went,<00:05:54.490> you<00:05:54.570> know,<00:05:54.731> this<00:05:54.827> is<00:05:54.972> going<00:05:55.084> to<00:05:55.132> be<00:05:55.293> at<00:05:55.454> least<00:05:55.711> as<00:05:55.936> big<00:05:56.964> as<00:05:57.141> those.

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And<00:05:57.848> so<00:05:58.008> I<00:05:58.169> kind<00:05:58.330> of<00:05:58.426> bet<00:05:58.667> the<00:05:58.748> farm.

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But<00:06:00.515> let's<00:06:00.756> say<00:06:00.997> that,<00:06:01.238> you<00:06:01.334> know,<00:06:01.479> the<00:06:01.704> other<00:06:01.961> big<00:06:02.122> foundation<00:06:02.764> is<00:06:02.925> that<00:06:04.146> Nike<00:06:04.451> and<00:06:04.548> Adidas<00:06:05.255> being<00:06:05.560> so<00:06:05.833> male-oriented,<00:06:06.862> they<00:06:07.006> didn't<00:06:07.488> even<00:06:07.729> really<00:06:08.002> think<00:06:08.292> about<00:06:08.613> the<00:06:08.709> women's<00:06:09.111> market<00:06:09.513> on<00:06:09.673> any<00:06:09.898> level,<00:06:10.396> even<00:06:10.637> from<00:06:10.878> a<00:06:10.943> shoe<00:06:11.746> point<00:06:12.019> of<00:06:12.084> view.

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And<00:06:14.983> from<00:06:15.161> a<00:06:15.226> manufacturing<00:06:16.197> of<00:06:16.294> apparel,<00:06:18.205> very<00:06:18.545> Mid-America<00:06:21.362> points<00:06:21.702> of<00:06:21.782> view<00:06:22.106> on<00:06:22.608> style<00:06:23.172> and<00:06:23.301> design,<00:06:24.283> which<00:06:24.670> with<00:06:24.767> a<00:06:24.831> few<00:06:25.153> pieces<00:06:25.492> they<00:06:25.717> did<00:06:25.910> make<00:06:26.120> didn't<00:06:26.378> really<00:06:26.684> work<00:06:26.861> for<00:06:27.264> women.

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And<00:06:28.472> then<00:06:28.633> I'd<00:06:28.794> say<00:06:29.261> generally,<00:06:31.359> you<00:06:31.391> know,<00:06:31.536> they<00:06:31.680> were<00:06:32.243> excellent<00:06:32.661> at<00:06:32.757> making<00:06:33.127> shoes,<00:06:33.625> but<00:06:33.769> when<00:06:33.882> it<00:06:34.010> came<00:06:34.267> to<00:06:34.444> apparel,<00:06:35.473> you<00:06:35.569> know,<00:06:36.019> where<00:06:36.598> seams,<00:06:38.349> for<00:06:38.590> example,<00:06:39.394> you<00:06:39.426> know,<00:06:39.731> in<00:06:39.860> between<00:06:40.532> legs,<00:06:41.122> these<00:06:41.434> open<00:06:41.696> seams,<00:06:42.352> and<00:06:42.434> you'd<00:06:42.680> go<00:06:42.910> run<00:06:43.025> a<00:06:43.041> 10K,<00:06:43.107> or<00:06:43.205> Lord<00:06:43.369> knows<00:06:43.517> if<00:06:43.566> you<00:06:43.631> went<00:06:43.713> and<00:06:43.894> won<00:06:45.880> marathon,<00:06:46.619> you<00:06:46.651> know,<00:06:47.117> the<00:06:47.278> chafing<00:06:47.760> was<00:06:48.403> unbelievably<00:06:49.287> bad.

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So<00:06:51.039> it<00:06:51.136> was<00:06:51.296> just,<00:06:51.778> they<00:06:51.923> weren't<00:06:52.180> making<00:06:53.386> apparel<00:06:53.820> like<00:06:54.109> they<00:06:54.189> were<00:06:54.350> making<00:06:54.672> shoes.

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So<00:06:55.780> that<00:06:55.957> created<00:06:56.423> a,<00:06:56.825> you<00:06:56.857> know,<00:06:57.098> a<00:06:57.162> big<00:06:57.468> opening,<00:06:57.902> especially<00:06:58.432> when<00:06:58.512> you<00:06:58.609> see<00:06:58.850> that<00:06:59.653> women<00:06:59.894> are<00:07:00.055> probably<00:07:00.376> 70%<00:07:01.164> of<00:07:01.967> the<00:07:02.144> purchasers<00:07:02.851> of<00:07:03.012> athletic<00:07:03.526> apparel<00:07:03.880> and<00:07:04.062> shoes.

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And<00:07:07.261> so<00:07:07.473> you<00:07:07.571> start<00:07:07.898> this<00:07:08.127> thing.

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I'm<00:07:09.222> super<00:07:09.598> interested<00:07:10.415> in<00:07:10.595> the<00:07:10.758> branding.

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How<00:07:12.194> did<00:07:12.355> you<00:07:12.660> land<00:07:12.981> on<00:07:13.238> your<00:07:13.479> brand,<00:07:13.961> your<00:07:14.122> overall<00:07:14.523> message,<00:07:15.166> and<00:07:15.310> the<00:07:15.471> overall,<00:07:16.049> this<00:07:16.274> is<00:07:16.370> what<00:07:16.691> Lululemon<00:07:17.398> is?

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Because<00:07:17.735> I<00:07:17.815> feel<00:07:17.912> like<00:07:18.056> that's<00:07:18.297> what's<00:07:18.538> captured,<00:07:19.823> at<00:07:19.919> least<00:07:20.208> maybe<00:07:20.867> from<00:07:21.028> the<00:07:21.108> beginning,<00:07:21.525> is<00:07:21.670> like,<00:07:22.891> it<00:07:23.501> feels<00:07:23.742> more<00:07:23.902> like<00:07:24.079> a<00:07:24.095> movement<00:07:24.786> almost.

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Does<00:07:25.428> that<00:07:25.508> make<00:07:25.701> sense?

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Yeah.

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Well,<00:07:29.138> my<00:07:29.363> dad<00:07:30.166> was,<00:07:30.407> uh,<00:07:30.985> an<00:07:31.081> assistant<00:07:31.611> gardener<00:07:31.965> at<00:07:32.109> the<00:07:32.254> Esalen<00:07:32.671> Institute<00:07:33.378> in,<00:07:33.555> uh,<00:07:34.181> Big<00:07:34.293> Sur,<00:07:34.599> California,<00:07:36.189> and<00:07:36.526> I<00:07:36.606> think<00:07:36.831> I<00:07:36.911> learned<00:07:37.168> from<00:07:37.393> him<00:07:37.586> about<00:07:38.392> meditation<00:07:39.454> and<00:07:40.404> yoga.

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And<00:07:41.289> then<00:07:41.515> he<00:07:42.255> took<00:07:42.561> the<00:07:42.964> S<00:07:43.221> program,<00:07:44.332> which<00:07:44.509> then<00:07:44.750> turned<00:07:45.008> into<00:07:45.233> the<00:07:45.314> Landmark<00:07:45.942> program,<00:07:47.200> which<00:07:47.313> ended<00:07:47.623> up<00:07:47.802> being<00:07:49.739> kind<00:07:49.902> of<00:07:49.935> the<00:07:50.081> basis<00:07:50.570> for<00:07:51.286> the<00:07:51.449> Lululemon<00:07:52.915> culture,<00:07:54.120> you<00:07:54.232> know,<00:07:54.313> one<00:07:54.539> of<00:07:55.523> choice<00:07:56.249> and<00:07:56.410> responsibility,<00:07:57.717> integrity.

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And<00:07:59.702> by<00:08:04.913> Crossing<00:08:05.540> it<00:08:05.797> with<00:08:06.102> the<00:08:06.199> book<00:08:06.504> Good<00:08:06.681> to<00:08:06.842> Great,<00:08:07.468> The<00:08:07.549> Psychology<00:08:08.352> of<00:08:08.384> Achievement<00:08:09.156> around<00:08:09.558> goal<00:08:09.799> setting,<00:08:10.522> Seven<00:08:10.859> Habits<00:08:11.181> of<00:08:11.245> Highly<00:08:11.599> Effective<00:08:12.129> People,<00:08:13.093> we<00:08:13.254> created<00:08:13.592> a<00:08:13.657> linguistic<00:08:15.032> abstraction<00:08:15.776> at<00:08:15.873> Lululemon<00:08:16.439> of<00:08:16.568> about<00:08:16.924> 30<00:08:17.232> terms<00:08:17.620> and<00:08:17.701> definitions,<00:08:18.429> which<00:08:18.591> then<00:08:19.238> gave<00:08:19.432> us<00:08:19.577> the<00:08:19.723> foundation<00:08:20.386> to<00:08:20.548> be<00:08:20.645> able<00:08:20.791> to<00:08:20.952> grow<00:08:21.260> exponentially<00:08:22.004> when<00:08:22.149> we<00:08:22.327> did.

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And<00:08:25.430> are<00:08:25.593> you<00:08:25.625> shocked<00:08:26.098> by<00:08:26.327> how<00:08:26.669> big<00:08:26.914> the<00:08:26.995> industry<00:08:27.468> is<00:08:27.582> now?

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No.

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If<00:08:30.608> I<00:08:30.784> look<00:08:31.025> back<00:08:31.410> at<00:08:31.570> it,<00:08:31.746> I<00:08:31.762> mean,<00:08:31.987> you<00:08:32.211> could<00:08:32.452> say<00:08:32.852> that<00:08:33.814> in<00:08:33.894> the<00:08:33.958> 1960s,<00:08:35.353> probably<00:08:35.850> men<00:08:36.379> started<00:08:37.581> coming<00:08:37.982> out<00:08:38.142> of<00:08:38.319> the<00:08:38.623> 18th<00:08:39.024> hole<00:08:39.361> of<00:08:39.441> the<00:08:39.665> golf<00:08:40.002> course,<00:08:40.322> and<00:08:40.419> instead<00:08:40.739> of<00:08:40.867> wearing<00:08:41.204> suits<00:08:41.829> into<00:08:42.150> the<00:08:42.406> bar<00:08:42.967> or<00:08:43.063> the<00:08:43.208> lounge<00:08:43.673> afterwards,<00:08:44.715> they'd<00:08:44.875> just<00:08:45.115> wear<00:08:45.292> their<00:08:45.532> golf<00:08:46.013> shirt,<00:08:46.414> which<00:08:46.654> was<00:08:47.360> radical<00:08:47.873> at<00:08:48.017> that<00:08:48.321> time.

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And<00:08:49.299> then<00:08:49.684> you<00:08:50.101> probably<00:08:51.608> had<00:08:52.008> executives<00:08:53.066> who<00:08:53.211> were<00:08:53.371> going<00:08:53.467> to<00:08:53.547> go<00:08:53.772> golfing<00:08:54.188> Friday<00:08:54.525> night<00:08:54.830> show<00:08:55.070> up<00:08:55.230> to<00:08:55.455> work<00:08:56.177> you<00:08:56.209> know,<00:08:56.658> Friday<00:08:57.060> morning.

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And<00:08:57.558> this<00:08:57.782> would<00:08:57.943> be<00:08:58.184> only<00:08:58.441> the<00:08:58.601> very<00:08:58.842> successful,<00:09:01.010> you<00:09:01.106> know,<00:09:01.958> executives.

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Because<00:09:03.017> if<00:09:03.162> you<00:09:03.322> weren't<00:09:03.563> an<00:09:03.660> exec,<00:09:04.446> a<00:09:04.623> successful<00:09:05.265> executive,<00:09:05.908> you<00:09:06.052> couldn't<00:09:06.293> show<00:09:06.550> up<00:09:06.791> doing<00:09:07.032> that.

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But<00:09:07.899> the<00:09:07.995> successful<00:09:08.557> ones<00:09:08.862> couldn't<00:09:09.103> get<00:09:09.280> fired.

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So,<00:09:12.090> they<00:09:12.235> would<00:09:12.395> show<00:09:12.652> up<00:09:12.813> and<00:09:12.893> then<00:09:13.118> go<00:09:13.230> to<00:09:13.375> golf.

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So,<00:09:13.792> it<00:09:13.840> was<00:09:13.937> seen<00:09:14.322> kind<00:09:14.499> of<00:09:14.643> as<00:09:14.820> a<00:09:14.884> status<00:09:15.414> symbol.

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So,<00:09:16.827> and<00:09:16.972> then<00:09:17.068> I<00:09:17.148> kind<00:09:17.373> of<00:09:17.469> look<00:09:17.774> forward<00:09:18.256> to<00:09:18.288> that.

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And<00:09:18.658> then<00:09:18.754> I<00:09:18.899> go,<00:09:19.220> well,<00:09:19.477> then<00:09:19.701> the<00:09:19.782> surf<00:09:20.263> thing<00:09:20.424> happened<00:09:20.906> probably<00:09:21.323> in<00:09:21.404> Australia.

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And<00:09:22.367> then<00:09:22.512> it<00:09:22.672> morphed<00:09:23.009> into<00:09:23.732> California,<00:09:24.920> and<00:09:25.016> you<00:09:25.161> have<00:09:25.417> this<00:09:26.445> thing<00:09:26.686> where<00:09:26.782> executives,<00:09:27.601> or<00:09:27.745> if<00:09:27.890> you're<00:09:28.050> in<00:09:28.147> your<00:09:28.291> own<00:09:28.532> business<00:09:29.094> and<00:09:29.254> you're<00:09:29.431> controlling<00:09:29.977> your<00:09:30.153> own<00:09:30.378> life,<00:09:31.181> can,<00:09:32.224> uh,<00:09:32.706> you<00:09:32.738> know,<00:09:32.882> surf's<00:09:33.428> up.

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So<00:09:33.990> then<00:09:34.151> you<00:09:34.311> want<00:09:34.407> to<00:09:34.488> go<00:09:34.648> surfing,<00:09:35.130> and<00:09:35.194> you<00:09:35.290> got<00:09:35.435> to<00:09:35.515> go<00:09:35.612> surfing<00:09:36.093> like<00:09:36.478> at<00:09:36.655> that<00:09:36.896> moment,<00:09:37.361> at<00:09:37.522> that<00:09:37.763> time.

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And<00:09:39.529> you<00:09:39.625> can't<00:09:39.946> be<00:09:40.107> wearing<00:09:40.428> a<00:09:40.492> suit<00:09:40.829> and<00:09:40.909> tie,<00:09:41.535> one,<00:09:41.872> to<00:09:42.017> kind<00:09:42.210> of<00:09:42.338> get<00:09:42.579> out<00:09:42.755> of<00:09:42.900> it,<00:09:43.076> get<00:09:43.253> into<00:09:43.462> your<00:09:43.622> wetsuit,<00:09:44.120> get<00:09:44.280> out<00:09:44.521> there,<00:09:45.163> and<00:09:45.228> then<00:09:45.404> get<00:09:45.565> out,<00:09:45.806> get<00:09:45.982> out<00:09:46.030> of<00:09:46.127> your<00:09:46.367> wetsuit,<00:09:46.994> and<00:09:47.090> then<00:09:47.250> you're<00:09:47.812> kind<00:09:48.037> of<00:09:48.133> wet<00:09:48.374> and<00:09:48.519> cold.

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You're<00:09:49.097> not<00:09:49.321> going<00:09:49.402> to<00:09:49.562> get<00:09:49.739> into<00:09:50.060> a<00:09:50.076> suit<00:09:50.766> you<00:09:50.798> know,<00:09:51.006> so<00:09:51.247> you're<00:09:51.343> going<00:09:51.503> to<00:09:51.647> get<00:09:51.808> into<00:09:52.000> a<00:09:52.208> t-shirt<00:09:52.705> and<00:09:52.785> hoodie.

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And<00:09:53.811> of<00:09:53.891> course,<00:09:54.228> that<00:09:54.468> took<00:09:54.644> itself<00:09:55.125> into<00:09:55.430> the,<00:09:55.734> uh,<00:09:56.471> into<00:09:56.712> the<00:09:56.872> technology<00:09:57.657> world<00:09:57.914> of<00:09:58.058> California.

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And<00:09:59.020> that's<00:09:59.340> how,<00:09:59.741> you<00:09:59.821> know,<00:10:00.061> that,<00:10:00.879> that<00:10:01.119> end<00:10:01.279> of<00:10:01.424> things<00:10:01.744> kind<00:10:01.920> of<00:10:02.065> got<00:10:02.305> going.

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Um,<00:10:04.004> so<00:10:04.965> am<00:10:05.126> I<00:10:05.206> surprised<00:10:06.408> by<00:10:07.049> the<00:10:07.209> growth<00:10:07.610> of<00:10:07.754> it?

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I've<00:10:08.475> seen<00:10:08.716> it<00:10:08.876> happen<00:10:09.389> since<00:10:09.774> 1960.

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And<00:10:11.841> I<00:10:11.937> would<00:10:12.097> say,<00:10:13.123> interestingly<00:10:13.620> enough,<00:10:14.165> um,<00:10:15.447> at<00:10:15.543> different<00:10:15.944> parts,<00:10:16.425> I<00:10:16.441> didn't<00:10:16.745> know<00:10:16.970> how<00:10:17.162> much<00:10:17.546> bigger<00:10:17.787> it<00:10:17.947> could<00:10:18.172> go.

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All<00:10:18.668> I<00:10:18.765> know<00:10:19.069> is<00:10:19.213> that<00:10:19.374> on<00:10:19.470> the<00:10:19.614> West<00:10:19.934> Coast<00:10:21.649> Starting<00:10:22.114> in<00:10:22.274> probably<00:10:22.611> 1998,<00:10:23.973> or<00:10:24.053> at<00:10:24.117> least<00:10:24.358> in<00:10:24.502> Vancouver,<00:10:25.159> people<00:10:25.416> stopped<00:10:25.945> wearing<00:10:26.137> suits<00:10:26.522> and<00:10:26.602> ties.

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People<00:10:27.868> started<00:10:28.284> wearing<00:10:28.685> stretch<00:10:29.166> clothing<00:10:29.711> to<00:10:29.887> work,<00:10:30.849> things<00:10:31.073> that<00:10:31.153> were<00:10:31.266> more<00:10:31.554> comfortable<00:10:32.131> because<00:10:33.077> Vancouver,<00:10:33.798> you<00:10:34.118> walk<00:10:34.391> or<00:10:34.519> you<00:10:34.695> bike<00:10:34.936> to<00:10:35.096> work<00:10:35.336> because<00:10:35.641> it's<00:10:35.753> a<00:10:35.817> very<00:10:36.122> metropolitan<00:10:37.003> dense<00:10:37.324> city<00:10:38.157> in<00:10:38.462> the<00:10:38.542> mountains<00:10:39.968> with<00:10:40.128> lots<00:10:40.385> of<00:10:40.529> rain,<00:10:40.737> lots<00:10:41.026> of<00:10:41.090> sun,<00:10:41.346> that<00:10:41.587> type<00:10:41.827> of<00:10:41.907> thing.

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So,<00:10:42.308> it<00:10:42.452> created<00:10:42.853> an<00:10:44.456> industry<00:10:45.353> like<00:10:45.674> with<00:10:45.898> Arc'teryx,<00:10:46.619> for<00:10:46.715> instance,<00:10:47.357> which<00:10:47.597> is<00:10:48.238> another<00:10:48.783> local<00:10:49.120> Vancouver<00:10:49.680> company.

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About<00:10:50.947> just<00:10:51.348> dressing<00:10:51.765> is<00:10:51.910> just<00:10:52.647> part<00:10:52.888> and<00:10:53.048> parcel.

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Dressing<00:10:54.412> for<00:10:54.572> business<00:10:54.989> is<00:10:55.134> the<00:10:55.214> same<00:10:55.518> as<00:10:55.615> dressing<00:10:56.000> for<00:10:56.096> athletics.

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How<00:10:57.844> did<00:10:58.005> you<00:10:58.085> get<00:10:58.245> the<00:10:58.309> manufacturing<00:11:00.010> and<00:11:00.186> the<00:11:00.266> material<00:11:01.630> and<00:11:02.175> all<00:11:02.287> of<00:11:02.416> that<00:11:02.656> stuff<00:11:02.913> right?

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I<00:11:03.089> mean,<00:11:03.314> Lululemon<00:11:03.795> has<00:11:04.020> a<00:11:04.597> very<00:11:04.918> unique<00:11:05.624> and<00:11:05.720> distinct<00:11:06.522> fit.

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You<00:11:07.244> know,<00:11:07.548> when<00:11:07.709> you're<00:11:07.949> wearing<00:11:08.447> something<00:11:08.928> made<00:11:09.152> by<00:11:09.393> Lululemon,<00:11:10.596> how<00:11:10.772> did<00:11:11.077> you<00:11:11.494> get<00:11:11.895> that<00:11:13.018> perfected?

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I<00:11:13.836> mean,<00:11:14.044> how<00:11:14.221> long<00:11:14.445> did<00:11:14.542> that—<00:11:15.007> I'm<00:11:15.087> super<00:11:15.344> interested<00:11:15.584> in<00:11:15.664> like<00:11:15.825> the<00:11:15.889> early<00:11:16.146> days,<00:11:16.306> like<00:11:16.531> how<00:11:16.627> do<00:11:16.771> you<00:11:16.883> manufacture<00:11:17.685> this<00:11:17.862> stuff<00:11:18.086> and<00:11:18.215> be<00:11:18.295> like,<00:11:18.778> No,<00:11:18.956> that's<00:11:19.199> not<00:11:19.361> good<00:11:19.523> enough.

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We<00:11:19.976> need<00:11:20.170> this<00:11:20.332> type<00:11:20.575> of<00:11:20.656> fabric,<00:11:20.979> that<00:11:21.222> type<00:11:21.400> of<00:11:21.465> stuff.

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Well,<00:11:24.098> it<00:11:24.325> really<00:11:24.744> is,<00:11:25.455> uh,<00:11:25.859> the<00:11:26.020> core<00:11:26.424> of<00:11:26.521> it,<00:11:26.666> which<00:11:27.150> I<00:11:27.490> believe<00:11:27.829> a<00:11:27.974> lot<00:11:28.216> of<00:11:28.297> people<00:11:28.701> don't<00:11:28.943> understand.

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And<00:11:31.188> if<00:11:31.349> I<00:11:31.527> go<00:11:31.769> back<00:11:32.092> to<00:11:32.961> myself<00:11:33.541> being<00:11:33.783> in<00:11:33.928> the<00:11:33.960> surf<00:11:34.427> industry,<00:11:34.991> it<00:11:35.071> was<00:11:35.313> Quicksilver<00:11:35.877> and<00:11:36.038> Billabong<00:11:36.666> that<00:11:36.843> came<00:11:37.101> up<00:11:37.310> from<00:11:37.471> Australia<00:11:38.615> that<00:11:38.856> had<00:11:39.017> a<00:11:39.162> whole<00:11:39.404> different<00:11:39.807> fit<00:11:40.161> for<00:11:40.386> apparel,<00:11:41.031> and<00:11:41.160> especially<00:11:41.739> athletic<00:11:42.239> apparel,<00:11:43.205> because,<00:11:43.833> uh,<00:11:44.026> surfers<00:11:44.574> have<00:11:44.880> big<00:11:45.121> butts<00:11:45.379> and<00:11:45.540> big<00:11:45.782> thighs<00:11:46.184> and<00:11:46.265> a<00:11:46.281> small<00:11:46.829> waist.

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And<00:11:47.903> they're<00:11:48.128> crouching<00:11:48.690> down,<00:11:49.734> the<00:11:49.799> need<00:11:50.232> for<00:11:50.457> a<00:11:50.554> higher<00:11:51.116> back<00:11:51.437> rise<00:11:51.999> and<00:11:52.079> a<00:11:52.304> lower<00:11:52.577> front,<00:11:53.589> and<00:11:53.686> then<00:11:54.248> more<00:11:54.473> fabric<00:11:54.971> around<00:11:55.212> the<00:11:55.372> butt<00:11:55.613> and<00:11:55.838> thighs<00:11:56.159> with<00:11:56.320> less<00:11:56.577> around<00:11:57.926> the<00:11:58.087> waist<00:11:58.906> created<00:11:59.308> a<00:11:59.388> whole<00:11:59.693> different<00:12:00.095> fit,<00:12:00.978> which<00:12:01.219> was<00:12:02.520> totally<00:12:03.404> different<00:12:03.950> than<00:12:04.689> taking<00:12:05.171> big<00:12:05.395> data<00:12:05.797> across<00:12:06.359> the<00:12:07.901> global<00:12:08.319> sphere<00:12:08.720> about,<00:12:09.170> you<00:12:09.202> know,<00:12:09.347> what<00:12:09.491> is<00:12:09.652> the<00:12:09.893> average<00:12:10.214> size<00:12:10.568> of<00:12:10.632> somebody<00:12:11.419> and<00:12:11.740> of<00:12:11.917> the<00:12:12.238> global<00:12:13.152> population<00:12:13.873> and<00:12:13.955> then<00:12:14.135> making<00:12:14.561> it<00:12:14.774> for,<00:12:15.512> you<00:12:15.594> know,<00:12:15.692> the<00:12:15.823> middle<00:12:16.249> of<00:12:16.413> that<00:12:16.741> bell<00:12:17.003> curve.

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So,<00:12:19.862> so<00:12:20.265> then<00:12:20.572> to<00:12:20.798> actually<00:12:21.153> make<00:12:21.540> clothing<00:12:22.089> that<00:12:22.331> actually<00:12:22.734> fit<00:12:23.153> an<00:12:23.315> athlete<00:12:23.880> and<00:12:23.960> then<00:12:24.186> consequently<00:12:24.993> actually<00:12:25.396> looked<00:12:25.800> really<00:12:26.138> good<00:12:26.380> on<00:12:26.510> them,<00:12:28.405> subconsciously<00:12:29.498> became<00:12:29.980> kind<00:12:30.157> of<00:12:30.237> the<00:12:30.398> inspirational<00:12:31.361> look<00:12:31.683> for,<00:12:32.647> like,<00:12:32.968> that,<00:12:33.289> that<00:12:33.530> represented<00:12:34.157> health,<00:12:34.639> that<00:12:34.735> represented<00:12:35.442> fitness.

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And<00:12:36.262> it<00:12:36.326> was<00:12:36.905> people<00:12:37.227> who<00:12:37.388> were,<00:12:37.775> you<00:12:37.871> know,<00:12:38.177> athletes<00:12:38.579> like<00:12:38.756> that<00:12:39.062> usually<00:12:39.384> had<00:12:39.625> rosier<00:12:40.124> cheeks,<00:12:40.607> you<00:12:40.704> know,<00:12:40.865> they<00:12:40.993> have<00:12:41.090> better<00:12:41.331> teeth,<00:12:41.412> they,<00:12:41.557> you<00:12:41.718> know,<00:12:41.798> they<00:12:41.911> just<00:12:42.361> look<00:12:42.426> better.

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And<00:12:42.715> I<00:12:42.732> think<00:12:42.844> that<00:12:42.941> that<00:12:42.989> drove<00:12:46.200> subconsciously<00:12:46.960> drove<00:12:49.388> the<00:12:49.550> demand<00:12:50.116> for<00:12:51.071> athletic<00:12:51.573> clothing.

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And<00:12:53.175> then<00:12:53.337> from<00:12:53.531> a<00:12:53.596> fabric<00:12:54.066> point<00:12:54.260> of<00:12:54.389> view,<00:12:55.522> when<00:12:55.844> I<00:12:55.908> had<00:12:56.085> my<00:12:56.230> snowboarding<00:12:56.872> company<00:12:57.210> and<00:12:57.435> women<00:12:57.756> were<00:12:57.933> coming<00:12:58.335> into<00:12:59.283> snowboarding,<00:13:00.328> I<00:13:00.505> made<00:13:01.132> a<00:13:04.267> first<00:13:04.689> layer<00:13:05.029> tight<00:13:06.960> for<00:13:07.187> women<00:13:07.431> to<00:13:07.528> wear<00:13:07.609> under<00:13:07.788> snowboard<00:13:08.420> pants.

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And<00:13:09.378> then<00:13:09.540> when<00:13:09.621> I<00:13:09.718> sold<00:13:10.108> West<00:13:10.367> Beach<00:13:10.611> and<00:13:10.676> I<00:13:10.708> started<00:13:11.097> into<00:13:11.736> yoga,<00:13:12.058> I<00:13:12.218> went,<00:13:12.459> oh<00:13:12.539> my<00:13:12.716> God,<00:13:12.957> I<00:13:13.101> have<00:13:13.278> the<00:13:13.438> perfect<00:13:14.065> fabric<00:13:14.562> for<00:13:14.707> this.

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And<00:13:15.767> so<00:13:16.425> it,<00:13:17.035> you<00:13:17.067> know,<00:13:17.372> well,<00:13:17.533> it<00:13:17.677> wasn't<00:13:18.015> the<00:13:18.159> perfect<00:13:18.480> fabric<00:13:18.882> for<00:13:19.058> it.

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It<00:13:19.299> was<00:13:19.411> still<00:13:19.765> too<00:13:20.086> warm<00:13:20.343> for<00:13:20.664> yoga,<00:13:21.627> but<00:13:21.788> I,<00:13:22.173> you<00:13:22.205> know,<00:13:22.350> I<00:13:22.510> worked<00:13:22.832> on<00:13:22.912> it<00:13:23.056> for,<00:13:23.377> for<00:13:23.618> quite<00:13:23.891> a<00:13:23.955> while<00:13:24.501> and<00:13:24.662> then<00:13:24.999> perfected<00:13:25.625> it.

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And<00:13:26.027> then,<00:13:26.910> um,<00:13:27.472> you<00:13:27.552> know,<00:13:27.793> increased<00:13:28.210> the<00:13:28.355> Lycra<00:13:28.692> from<00:13:28.933> 3%<00:13:29.656> to<00:13:29.816> 12%.

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I<00:13:31.261> pre-shrunk<00:13:31.984> it.

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I<00:13:32.385> put<00:13:32.690> antimicrobial<00:13:33.670> properties<00:13:34.296> into<00:13:34.617> it,<00:13:34.794> anti-stink,<00:13:36.062> and<00:13:36.159> then<00:13:36.383> I<00:13:37.362> Probably<00:13:37.763> the,<00:13:38.550> you<00:13:38.582> know,<00:13:38.742> the<00:13:39.047> bigger<00:13:39.592> technical<00:13:40.090> innovations<00:13:40.812> were<00:13:40.972> around<00:13:41.999> flat<00:13:42.320> seaming.

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So<00:13:43.844> I<00:13:43.940> bought<00:13:44.164> these<00:13:44.421> machines<00:13:44.838> from<00:13:45.047> that<00:13:45.143> had<00:13:45.223> just<00:13:45.464> come<00:13:45.624> out<00:13:45.769> in<00:13:45.865> Japan<00:13:47.052> that<00:13:47.212> when<00:13:47.373> it<00:13:47.469> sewed,<00:13:47.886> instead<00:13:48.207> of<00:13:48.335> creating<00:13:48.833> an<00:13:49.057> open<00:13:49.314> seam<00:13:49.715> that<00:13:49.875> would<00:13:50.180> give<00:13:50.276> a<00:13:50.357> person<00:13:50.758> a<00:13:50.838> rash,<00:13:52.025> it<00:13:52.186> actually<00:13:52.522> flattened<00:13:52.940> the<00:13:53.020> seam<00:13:53.325> and<00:13:53.485> cut<00:13:53.790> off<00:13:53.966> all<00:13:54.111> the<00:13:54.271> excess<00:13:55.410> fabric<00:13:55.907> so<00:13:56.196> that<00:13:56.774> I<00:13:56.854> could<00:13:57.078> then<00:13:57.399> use<00:13:57.640> seams<00:13:58.073> as<00:13:58.217> kind<00:13:58.394> of<00:13:58.538> a<00:13:58.683> way<00:13:58.939> of<00:13:59.597> designing<00:14:00.608> a<00:14:00.864> garment<00:14:01.265> because<00:14:01.570> I<00:14:01.650> could<00:14:01.843> take<00:14:02.068> them<00:14:02.292> out<00:14:02.404> from<00:14:02.629> underneath<00:14:03.110> the<00:14:03.662> armpits<00:14:04.230> and<00:14:04.376> underneath<00:14:04.781> the<00:14:04.878> legs<00:14:05.203> and<00:14:05.349> kind<00:14:05.543> of<00:14:05.689> bring<00:14:05.916> them<00:14:06.078> out.

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And<00:14:07.214> I<00:14:07.311> always<00:14:07.554> had<00:14:07.716> a<00:14:07.862> love<00:14:08.122> for<00:14:09.322> what<00:14:09.419> I'd<00:14:09.581> call<00:14:09.906> West<00:14:10.230> Coast<00:14:10.636> function<00:14:11.673> with<00:14:11.997> Italian<00:14:12.741> styling,<00:14:14.019> where<00:14:14.116> kind<00:14:14.342> of<00:14:14.504> a<00:14:15.410> 20-pound,<00:14:16.607> 30-pound<00:14:17.189> overweight<00:14:17.739> man<00:14:18.062> could<00:14:18.175> suddenly<00:14:18.628> look<00:14:18.806> good<00:14:19.049> because<00:14:19.534> just<00:14:19.841> the,<00:14:20.423> the<00:14:20.569> tailoring<00:14:21.135> of<00:14:21.216> a<00:14:21.233> jacket<00:14:21.667> or<00:14:21.818> pants<00:14:22.236> was<00:14:22.403> just<00:14:22.720> so<00:14:22.904> well<00:14:23.155> done.

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That's<00:14:25.338> super,<00:14:26.260> super<00:14:26.809> interesting.

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Uh,<00:14:28.669> at<00:14:28.992> what<00:14:29.154> point<00:14:29.315> did<00:14:29.477> you<00:14:29.558> feel<00:14:29.703> like<00:14:29.865> you<00:14:29.962> got<00:14:30.140> the<00:14:30.269> product<00:14:30.689> right?

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You<00:14:31.517> got<00:14:31.757> the<00:14:31.854> fabric<00:14:32.319> right.

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You<00:14:32.801> got<00:14:33.122> like,<00:14:33.427> hey,<00:14:33.619> we're<00:14:33.844> really<00:14:34.101> onto<00:14:34.357> something<00:14:34.646> here.

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Well,<00:14:37.872> this<00:14:38.097> is<00:14:38.257> probably<00:14:39.060> the<00:14:39.236> downfall<00:14:39.974> of,<00:14:40.504> of<00:14:41.724> a<00:14:41.884> creative<00:14:42.430> person.

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And<00:14:44.115> even<00:14:44.452> as<00:14:44.628> a<00:14:44.757> creative<00:14:45.094> person<00:14:45.479> gets<00:14:45.736> into<00:14:45.977> a<00:14:46.121> board<00:14:46.362> of<00:14:46.442> directors<00:14:47.084> and<00:14:47.164> you've<00:14:47.260> got,<00:14:48.849> you've<00:14:49.588> got<00:14:49.844> a,<00:14:50.454> you've<00:14:50.615> got<00:14:50.855> a<00:14:50.952> bunch<00:14:51.273> of,<00:14:51.658> um,<00:14:52.540> uh,<00:14:52.877> you<00:14:52.958> know,<00:14:54.306> um,<00:14:54.787> you<00:14:54.819> know,<00:14:55.044> very<00:14:55.509> well-meaning<00:14:56.151> directors,<00:14:56.793> but<00:14:56.970> they're<00:14:57.612> but<00:14:57.773> they're—<00:14:58.256> they<00:14:58.417> don't—<00:14:58.965> they,<00:14:59.464> they<00:14:59.867> making<00:15:00.189> their<00:15:00.350> decision<00:15:01.155> based<00:15:01.461> on<00:15:01.638> past<00:15:02.282> metrics,<00:15:03.554> where<00:15:03.796> a<00:15:04.601> creator<00:15:05.164> is<00:15:05.406> always<00:15:05.744> thinking<00:15:06.130> 5<00:15:06.453> years<00:15:06.630> in<00:15:06.791> the<00:15:06.920> future.

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And<00:15:07.759> I<00:15:07.839> can<00:15:08.065> guarantee<00:15:08.630> you<00:15:08.888> that<00:15:09.066> as<00:15:09.227> a<00:15:09.356> creator,<00:15:09.856> the<00:15:10.001> minute—<00:15:10.824> I'm<00:15:10.986> never<00:15:11.373> happy.

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I'm<00:15:12.341> happy<00:15:12.744> never<00:15:13.083> being<00:15:13.390> happy.

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In<00:15:14.439> other<00:15:14.616> words,<00:15:14.858> the<00:15:14.923> minute<00:15:15.262> I've<00:15:15.423> created<00:15:15.746> something,<00:15:16.165> I'm<00:15:16.310> no<00:15:16.440> longer<00:15:16.719> happy<00:15:17.130> with<00:15:17.229> it<00:15:17.261> because<00:15:17.607> I<00:15:17.705> know<00:15:17.870> there's<00:15:18.116> always<00:15:18.314> something<00:15:18.692> that<00:15:18.856> can<00:15:19.020> be<00:15:19.103> done<00:15:19.333> better.

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What<00:15:21.509> do—<00:15:21.735> what,<00:15:22.058> in<00:15:22.139> your<00:15:22.300> opinion,<00:15:22.623> what<00:15:22.849> goes<00:15:23.091> into<00:15:23.269> a<00:15:23.430> brand?

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What<00:15:24.140> makes<00:15:24.398> a<00:15:24.479> great<00:15:24.947> iconic<00:15:25.528> brand?

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I'd<00:15:28.327> say<00:15:28.472> number<00:15:28.922> 1<00:15:29.083> is<00:15:29.436> knowing<00:15:30.047> who<00:15:30.224> the<00:15:30.321> muse<00:15:30.771> is.

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And<00:15:34.018> so,<00:15:34.484> what<00:15:34.597> do<00:15:34.726> I<00:15:34.886> mean<00:15:35.192> by<00:15:35.369> that?

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I'm<00:15:37.478> very<00:15:37.816> specific.

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And<00:15:38.783> so,<00:15:39.733> for<00:15:40.989> myself,<00:15:41.778> not<00:15:41.907> only<00:15:42.164> for<00:15:42.647> West<00:15:43.372> Beach<00:15:43.839> and<00:15:43.936> then<00:15:44.258> Lululemon,<00:15:45.047> and<00:15:45.143> then<00:15:45.369> for<00:15:45.498> my<00:15:46.255> other<00:15:46.432> businesses<00:15:46.980> that<00:15:47.076> I<00:15:47.221> have<00:15:47.463> now<00:15:47.705> between<00:15:48.043> Arc'teryx<00:15:48.768> and<00:15:49.639> Salomon<00:15:50.299> and<00:15:51.653> Atomic<00:15:52.894> and<00:15:53.265> Wilson<00:15:54.006> out<00:15:54.103> of<00:15:54.167> Chicago,<00:15:55.422> I'm<00:15:55.828> really<00:15:56.558> focusing<00:15:57.143> in<00:15:57.289> on<00:15:57.387> the<00:15:57.468> 32-year-old<00:15:58.280> single<00:15:58.751> professional<00:16:00.131> who<00:16:00.943> is<00:16:02.821> one,<00:16:03.450> they<00:16:04.257> own,<00:16:04.903> if<00:16:05.016> it's<00:16:05.226> a<00:16:05.323> woman,<00:16:05.630> they're<00:16:05.743> owning<00:16:06.050> their<00:16:06.211> own<00:16:06.373> condo.

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They<00:16:07.277> travel<00:16:07.826> a<00:16:07.906> lot.

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They're<00:16:09.117> making<00:16:09.472> $100,000<00:16:10.635> a<00:16:10.700> year.

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They're<00:16:13.211> fashionable.

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They<00:16:14.257> have<00:16:14.515> time.

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And<00:16:16.189> what<00:16:16.302> do<00:16:16.447> I<00:16:16.608> mean<00:16:16.769> by<00:16:16.994> they<00:16:17.155> have<00:16:17.396> time?

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They<00:16:17.895> have<00:16:18.620> the<00:16:18.781> time<00:16:19.087> to<00:16:19.248> work<00:16:19.505> out,<00:16:19.747> time<00:16:19.988> to<00:16:20.133> take<00:16:20.310> care<00:16:20.536> of<00:16:20.568> themselves<00:16:21.827> because<00:16:22.150> they're<00:16:22.263> no<00:16:22.409> longer<00:16:22.893> like<00:16:23.135> 22<00:16:23.684> years<00:16:24.007> old<00:16:24.201> and<00:16:24.330> struggling<00:16:24.604> out<00:16:24.653> of<00:16:24.717> university.

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And<00:16:26.553> that<00:16:26.794> person<00:16:27.195> is<00:16:27.356> looking<00:16:27.677> at<00:16:27.821> that<00:16:28.062> 32-year-old<00:16:28.736> as<00:16:28.944> being<00:16:29.185> iconic.

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They're<00:16:30.340> not<00:16:30.726> 42<00:16:31.448> with<00:16:31.769> 2<00:16:31.993> children<00:16:32.555> and<00:16:33.116> kind<00:16:33.277> of<00:16:33.437> up<00:16:33.550> to<00:16:33.678> their<00:16:33.839> eyeballs<00:16:34.657> in<00:16:34.737> a<00:16:34.817> lot<00:16:35.074> of,<00:16:35.299> you<00:16:35.395> know,<00:16:35.764> whatever<00:16:36.021> it<00:16:36.181> takes<00:16:36.486> to<00:16:36.647> do<00:16:36.823> that.

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So<00:16:37.626> that<00:16:37.850> 42-year-old<00:16:38.653> looks<00:16:38.829> to<00:16:38.990> that<00:16:39.230> 32-year-old.

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And<00:16:40.979> so<00:16:41.316> that<00:16:41.878> 32-year-old<00:16:42.825> for<00:16:42.969> me<00:16:43.563> is<00:16:44.108> exactly<00:16:45.087> the<00:16:45.183> same<00:16:45.873> as<00:16:46.628> saying,<00:16:47.013> well,<00:16:47.253> Nike<00:16:47.719> has<00:16:48.617> Michael<00:16:49.003> Jordan,<00:16:49.644> or<00:16:49.821> they<00:16:49.981> had<00:16:50.222> Tiger<00:16:50.687> Woods,<00:16:51.024> or<00:16:51.410> whoever<00:16:51.746> they<00:16:51.907> have<00:16:52.212> now,<00:16:53.014> you<00:16:53.094> know,<00:16:53.576> they<00:16:54.140> picked<00:16:54.333> a<00:16:54.462> particular<00:16:54.961> person<00:16:55.364> and<00:16:55.525> paid<00:16:55.831> them<00:16:55.943> a<00:16:56.008> whole<00:16:56.169> bunch<00:16:56.410> of<00:16:56.491> money,<00:16:57.215> or<00:16:57.360> I<00:16:57.538> created<00:16:57.940> the<00:16:58.101> person<00:16:59.051> out<00:16:59.148> of,<00:16:59.373> you<00:16:59.406> know,<00:16:59.615> basically<00:17:00.114> thin<00:17:00.420> air.

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And<00:17:01.161> again,<00:17:01.628> mostly<00:17:02.111> having<00:17:02.369> to<00:17:02.514> do<00:17:02.820> with,<00:17:04.708> you<00:17:04.741> know,<00:17:05.197> that<00:17:05.685> women<00:17:06.092> were<00:17:06.499> in<00:17:06.678> 1998,<00:17:07.671> 60%<00:17:08.144> of<00:17:08.290> them<00:17:08.632> were<00:17:08.728> the<00:17:08.857> graduates<00:17:09.356> at<00:17:09.453> a<00:17:10.065> university.

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Higher<00:17:12.819> education<00:17:13.544> leads<00:17:13.850> to<00:17:14.575> fewer<00:17:14.913> children<00:17:15.541> and<00:17:15.702> waiting<00:17:16.024> longer<00:17:16.346> to<00:17:16.443> have<00:17:16.684> children.

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So,<00:17:17.345> a<00:17:17.409> whole<00:17:17.634> new<00:17:17.780> demographic<00:17:18.546> got<00:17:19.716> created.

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Yeah,<00:17:21.496> even<00:17:21.656> as<00:17:21.800> we're<00:17:21.897> talking<00:17:22.153> here,<00:17:22.249> I'm<00:17:22.377> looking<00:17:22.602> at<00:17:22.682> your<00:17:22.842> whiteboard<00:17:23.243> here.

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It<00:17:23.419> says<00:17:23.644> like,<00:17:23.756> to<00:17:23.884> provide<00:17:24.285> components<00:17:24.846> for<00:17:25.022> people<00:17:25.327> to<00:17:25.407> live<00:17:25.664> longer,<00:17:26.465> healthier,<00:17:26.930> happier<00:17:27.251> lives.

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Um,<00:17:29.014> yeah,<00:17:29.351> that's<00:17:29.575> right.

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Yeah,<00:17:30.697> like,<00:17:30.938> is,<00:17:31.178> is<00:17:31.338> this<00:17:31.595> like<00:17:31.835> the<00:17:31.979> purpose,<00:17:32.941> the<00:17:33.743> what,<00:17:34.240> what<00:17:34.384> we're<00:17:34.544> looking<00:17:34.785> at<00:17:34.961> here?

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Well,<00:17:35.987> that's<00:17:36.227> my<00:17:36.388> life<00:17:36.644> purpose.

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My<00:17:37.285> business<00:17:37.686> purpose<00:17:38.424> is<00:17:38.568> to<00:17:38.792> elevate<00:17:39.209> the<00:17:39.353> world<00:17:39.690> from<00:17:39.834> mediocrity<00:17:40.604> to<00:17:40.732> greatness<00:17:41.838> for<00:17:42.014> 20<00:17:42.335> to<00:17:42.479> 40-year-olds<00:17:43.217> via<00:17:44.018> transformational<00:17:44.980> development<00:17:45.637> in<00:17:45.781> technical<00:17:46.326> apparel<00:17:46.663> and<00:17:46.807> shoes.

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So<00:17:47.689> I<00:17:47.769> have<00:17:47.946> that<00:17:48.090> on<00:17:48.202> my<00:17:48.426> board.

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I<00:17:48.907> never—<00:17:49.549> I<00:17:49.565> make<00:17:49.869> all<00:17:49.965> my<00:17:50.110> decisions<00:17:50.751> based<00:17:51.120> from<00:17:51.312> that,<00:17:51.472> I<00:17:51.617> try<00:17:51.777> not<00:17:52.018> to<00:17:52.114> veer<00:17:52.354> too<00:17:52.515> far<00:17:52.819> from<00:17:52.980> it.

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What<00:17:54.038> do<00:17:54.102> you<00:17:54.199> think<00:17:54.359> the<00:17:54.439> future<00:17:54.904> of<00:17:55.065> athletic<00:17:55.562> apparel<00:17:56.043> is?

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I<00:17:57.342> mean,<00:17:57.486> you're<00:17:57.647> involved—<00:17:58.208> you<00:17:58.304> just<00:17:58.513> mentioned<00:17:58.753> a<00:17:58.785> bunch<00:17:58.994> of<00:17:59.026> brands<00:17:59.250> that<00:17:59.347> you're<00:17:59.475> involved<00:17:59.956> in<00:18:00.132> and<00:18:00.998> everything<00:18:01.335> you've<00:18:01.495> done<00:18:01.656> post-Lululemon.

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I<00:18:02.778> mean,<00:18:02.939> you<00:18:03.067> must<00:18:03.260> be<00:18:03.340> thinking<00:18:03.564> about<00:18:03.725> this<00:18:03.885> constantly.

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Well,<00:18:05.986> and<00:18:06.146> everything<00:18:06.627> I<00:18:06.708> thought<00:18:06.948> about<00:18:07.574> kind<00:18:07.750> of<00:18:07.814> went<00:18:07.974> on<00:18:08.071> steroids<00:18:08.856> with<00:18:09.177> COVID<00:18:09.979> You<00:18:10.011> know,<00:18:10.155> people—<00:18:11.358> if<00:18:11.535> I<00:18:11.759> look<00:18:11.936> at<00:18:12.080> people<00:18:12.481> kind<00:18:12.657> of<00:18:12.802> post-COVID,<00:18:13.668> I<00:18:13.764> don't<00:18:13.908> see<00:18:14.245> anybody<00:18:14.726> in<00:18:14.806> leather<00:18:15.063> shoes<00:18:15.448> anymore.

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I<00:18:16.506> see<00:18:17.532> nobody<00:18:17.997> wearing<00:18:18.318> ties.

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You<00:18:19.056> know,<00:18:19.200> it's<00:18:19.360> almost<00:18:19.681> like<00:18:19.858> it's,<00:18:20.034> it's<00:18:20.643> like<00:18:20.820> an<00:18:20.964> archaic<00:18:21.686> way<00:18:21.862> of<00:18:22.102> being.

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And<00:18:23.289> so<00:18:24.572> I<00:18:24.812> think<00:18:25.149> that<00:18:25.390> people<00:18:25.726> have,<00:18:26.207> have<00:18:26.352> finally<00:18:28.035> come<00:18:28.500> to,<00:18:29.623> um,<00:18:30.585> you<00:18:30.617> know,<00:18:30.761> the<00:18:30.906> hierarchy<00:18:31.643> of,<00:18:32.028> of<00:18:32.205> needs,<00:18:32.670> so<00:18:32.830> to<00:18:32.862> speak.

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And<00:18:33.407> number<00:18:33.792> one<00:18:33.952> is<00:18:34.000> survival,<00:18:34.690> and<00:18:34.802> number<00:18:35.155> two<00:18:35.331> is<00:18:35.492> reproduction.

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And,<00:18:37.881> you<00:18:37.913> know,<00:18:38.138> to<00:18:38.298> do<00:18:38.683> any<00:18:38.859> of<00:18:38.939> those<00:18:39.180> two<00:18:39.436> things<00:18:39.821> requires,<00:18:41.168> um,<00:18:41.729> health.

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And,<00:18:43.173> you<00:18:43.253> know,<00:18:43.429> and<00:18:43.573> health<00:18:43.830> comes<00:18:44.151> from<00:18:44.714> you<00:18:44.795> know,<00:18:45.201> epigenetics<00:18:46.823> of<00:18:47.051> eating<00:18:47.294> right,<00:18:47.862> working<00:18:48.267> out,<00:18:48.592> getting<00:18:48.852> a<00:18:48.933> great<00:18:49.241> sleep.

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And<00:18:50.328> I<00:18:50.474> think<00:18:50.782> living<00:18:51.107> a<00:18:51.204> life<00:18:51.529> that<00:18:51.772> is,<00:18:52.190> you<00:18:53.479> know,<00:18:54.413> has<00:18:54.606> a<00:18:54.751> basis<00:18:55.637> in<00:18:55.863> athletics<00:18:56.507> or<00:18:56.604> at<00:18:56.749> least<00:18:57.006> mindfulness.

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And<00:18:59.736> so<00:18:59.961> someone<00:19:00.298> can<00:19:00.475> achieve<00:19:01.567> those—<00:19:03.335> a<00:19:03.495> longer<00:19:03.897> life,<00:19:04.540> which<00:19:04.717> I<00:19:04.877> call<00:19:05.054> survival,<00:19:05.841> or<00:19:06.404> more<00:19:06.725> children<00:19:07.271> through<00:19:07.528> reproduction.

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So,<00:19:11.109> uh,<00:19:11.430> as<00:19:11.751> you<00:19:11.847> think<00:19:12.024> about<00:19:12.633> like<00:19:12.810> the<00:19:12.954> brands<00:19:13.612> and<00:19:13.693> the<00:19:13.773> companies<00:19:14.238> you're<00:19:14.399> working<00:19:14.736> on<00:19:14.977> now,<00:19:16.485> um,<00:19:17.609> how<00:19:18.042> do<00:19:18.170> you<00:19:18.347> replicate<00:19:19.149> within<00:19:19.535> them<00:19:20.257> what<00:19:20.433> you<00:19:20.578> did<00:19:20.818> with,<00:19:21.139> with<00:19:21.380> Lululemon?

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And<00:19:22.279> like,<00:19:22.520> what—<00:19:22.712> because<00:19:23.178> it<00:19:23.242> seems<00:19:23.483> to<00:19:23.547> me<00:19:23.643> like<00:19:23.804> you,<00:19:24.028> you<00:19:24.285> mentioned<00:19:24.606> kind<00:19:24.767> of<00:19:24.831> those,<00:19:25.071> those,<00:19:25.473> uh,<00:19:25.810> first<00:19:26.131> and<00:19:26.195> second<00:19:26.532> things<00:19:26.692> that<00:19:26.789> are<00:19:26.869> most<00:19:27.158> important.

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It<00:19:28.057> seems<00:19:28.169> to<00:19:28.297> me<00:19:28.442> like<00:19:28.618> the,<00:19:28.859> the<00:19:29.003> change<00:19:29.260> has<00:19:29.421> been<00:19:29.501> like,<00:19:29.726> hey,<00:19:29.886> we<00:19:29.982> can<00:19:30.063> actually<00:19:30.384> be<00:19:30.528> comfortable<00:19:31.892> all<00:19:32.053> day,<00:19:33.577> right?

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Um,<00:19:35.022> yeah,<00:19:35.118> but<00:19:35.664> yes.

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I<00:19:36.402> mean,<00:19:36.562> that's<00:19:36.963> part<00:19:37.220> of<00:19:37.348> it.

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That<00:19:37.669> would<00:19:37.845> be<00:19:38.631> what<00:19:38.727> I'd<00:19:38.887> call<00:19:39.432> athletic<00:19:40.010> posers.

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And<00:19:41.373> it's<00:19:41.597> kind<00:19:41.757> of<00:19:41.918> came<00:19:42.158> out<00:19:42.270> of<00:19:42.415> it,<00:19:42.719> which<00:19:42.976> really<00:19:43.842> drives<00:19:44.259> a<00:19:44.339> big<00:19:44.579> part<00:19:44.804> of<00:19:44.884> the<00:19:44.996> financial<00:19:45.686> part<00:19:45.958> of<00:19:46.103> the<00:19:46.183> athletic<00:19:46.728> companies<00:19:47.289> because,<00:19:48.331> um,<00:19:49.053> you<00:19:49.149> know,<00:19:49.293> where<00:19:49.390> maybe<00:19:49.790> 10%<00:19:50.207> of<00:19:50.352> the<00:19:50.496> people<00:19:50.833> buy<00:19:51.073> stuff<00:19:51.394> for<00:19:51.699> actual<00:19:52.099> athletics,<00:19:52.596> there's<00:19:52.757> probably<00:19:53.077> 90%<00:19:53.799> that<00:19:54.040> buy<00:19:54.264> it<00:19:54.424> to<00:19:54.601> just<00:19:54.825> feel<00:19:55.146> comfortable<00:19:56.525> with.

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But<00:19:57.166> I<00:19:57.246> also<00:19:57.551> like<00:19:57.743> it<00:19:57.808> because<00:19:58.128> I<00:19:58.208> think<00:19:58.433> the<00:19:58.529> goal<00:19:58.786> is<00:19:58.930> that<00:19:59.170> when<00:19:59.251> those<00:19:59.491> people<00:19:59.812> ever<00:20:00.052> want<00:20:00.197> to<00:20:00.293> be<00:20:00.453> athletic,<00:20:00.918> they<00:20:01.014> have<00:20:01.255> the<00:20:01.351> apparel<00:20:01.736> to<00:20:01.896> do<00:20:01.992> it<00:20:02.057> and<00:20:02.217> nothing<00:20:02.618> to,<00:20:03.195> nothing<00:20:03.500> to<00:20:03.644> get<00:20:03.820> in<00:20:03.885> their<00:20:04.045> way.

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Yeah,<00:20:06.544> that<00:20:06.705> makes<00:20:07.060> sense.

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So,<00:20:07.529> so<00:20:07.739> where—<00:20:07.997> how<00:20:08.126> are<00:20:08.158> you<00:20:08.255> spending<00:20:08.643> your<00:20:08.724> time<00:20:08.966> these<00:20:09.192> days?

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Well,<00:20:12.125> I<00:20:12.206> have<00:20:12.512> a,<00:20:13.751> I<00:20:13.815> have,<00:20:14.202> uh,<00:20:14.846> you<00:20:14.878> know,<00:20:15.023> real<00:20:15.184> estate<00:20:15.570> business<00:20:15.908> in<00:20:16.069> Vancouver<00:20:16.552> and<00:20:16.648> Seattle<00:20:17.035> that's<00:20:17.340> quite<00:20:17.517> substantial.

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But<00:20:19.187> my<00:20:19.429> real<00:20:19.737> love<00:20:20.011> is,<00:20:20.949> is<00:20:21.434> Ammer,<00:20:22.178> which,<00:20:22.501> uh,<00:20:22.663> the<00:20:22.970> Ammer<00:20:23.229> brand<00:20:23.940> owns<00:20:24.764> Arcteryx,<00:20:25.395> which<00:20:25.557> is<00:20:25.718> here<00:20:25.831> in<00:20:25.977> Vancouver,<00:20:26.543> and<00:20:26.688> I<00:20:27.351> believe<00:20:27.658> makes<00:20:27.998> the<00:20:28.159> very,<00:20:28.370> very<00:20:28.830> best<00:20:29.171> top<00:20:29.512> quality<00:20:30.813> top-of-the-mountain<00:20:32.162> athletic<00:20:32.885> clothing<00:20:33.303> in<00:20:33.367> the<00:20:33.527> world.

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I<00:20:34.828> almost<00:20:35.149> call<00:20:35.326> it<00:20:35.470> life-and-death<00:20:36.097> clothing<00:20:36.338> because<00:20:36.659> they<00:20:36.755> came<00:20:37.060> out<00:20:37.173> of<00:20:37.253> making<00:20:37.638> climbing<00:20:38.104> harnesses<00:20:39.084> and<00:20:39.228> they<00:20:39.325> took<00:20:39.565> that<00:20:39.726> same<00:20:40.111> technology<00:20:40.754> and<00:20:40.850> put<00:20:41.075> it<00:20:41.171> into<00:20:41.412> jackets.

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And<00:20:42.633> anyone<00:20:42.938> who's<00:20:43.163> had<00:20:43.404> one<00:20:43.516> of<00:20:43.580> those<00:20:43.805> jackets<00:20:44.303> is,<00:20:44.929> is<00:20:45.090> going<00:20:45.170> to<00:20:45.266> love<00:20:45.443> it<00:20:45.588> for<00:20:45.748> sure.

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The<00:20:47.498> other<00:20:47.659> one<00:20:47.820> is<00:20:48.061> Wilson<00:20:48.462> out<00:20:48.639> of<00:20:48.944> Chicago,<00:20:49.522> which<00:20:49.618> I'm<00:20:49.843> very<00:20:50.229> proud<00:20:50.485> to<00:20:50.566> own.

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It<00:20:50.791> has<00:20:51.031> nothing<00:20:51.288> to<00:20:51.449> do<00:20:51.594> with<00:20:51.834> me,<00:20:52.268> it's<00:20:52.477> just<00:20:52.669> a<00:20:52.798> coincidence,<00:20:54.083> but<00:20:54.982> it<00:20:55.078> now<00:20:55.303> has<00:20:55.544> the<00:20:55.689> NBA<00:20:56.186> ball,<00:20:56.443> the<00:20:56.668> NFL<00:20:57.230> ball,<00:20:58.491> where<00:20:58.652> now<00:20:59.313> we<00:20:59.458> had<00:20:59.796> the<00:21:00.119> best<00:21:00.360> tennis<00:21:00.763> rackets<00:21:01.166> in<00:21:01.247> the<00:21:01.392> world.

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And<00:21:02.439> now<00:21:02.955> I'm<00:21:03.100> taking<00:21:04.228> basically<00:21:04.711> everything<00:21:05.179> that<00:21:05.276> I<00:21:05.421> learned<00:21:05.759> through,<00:21:07.113> you<00:21:07.209> know,<00:21:07.500> West<00:21:07.694> Beach<00:21:08.001> with<00:21:08.162> the<00:21:08.243> surfskate,<00:21:08.745> snowboarding,<00:21:09.553> and<00:21:09.780> Lululemon,<00:21:10.928> and<00:21:11.962> now<00:21:12.852> coaching<00:21:13.822> and<00:21:14.226> being<00:21:14.420> a<00:21:14.501> mentor<00:21:16.917> to<00:21:17.144> Wilson,<00:21:17.712> Arc'teryx,<00:21:18.929> Peak<00:21:19.173> Performance<00:21:19.919> out<00:21:20.017> of<00:21:20.082> Stockholm,<00:21:21.400> Atomic<00:21:21.757> out<00:21:21.919> of<00:21:22.309> Austria,<00:21:23.040> and<00:21:23.219> Salomon<00:21:23.706> out<00:21:23.852> of<00:21:23.934> France.

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You<00:21:24.925> know,<00:21:25.185> just<00:21:25.586> just<00:21:25.763> depart<00:21:26.309> my<00:21:26.405> knowledge.

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And,<00:21:28.236> but<00:21:28.396> you<00:21:28.476> know,<00:21:28.573> the<00:21:28.733> world<00:21:28.958> has<00:21:29.135> changed<00:21:29.536> and<00:21:29.617> there's<00:21:29.841> younger<00:21:30.179> people<00:21:30.725> in<00:21:30.821> there.

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There's<00:21:32.282> a<00:21:33.053> lot<00:21:33.246> of<00:21:33.374> digital<00:21:33.775> going<00:21:34.113> on,<00:21:34.418> omnichannel,<00:21:35.140> that<00:21:35.317> type<00:21:35.558> of<00:21:35.638> thing,<00:21:35.863> which<00:21:36.104> is<00:21:37.388> not<00:21:37.581> something<00:21:37.950> I'm<00:21:38.191> intimate<00:21:38.609> with.

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So,<00:21:39.090> I<00:21:39.171> have<00:21:39.396> to<00:21:39.492> kind<00:21:39.733> of,<00:21:39.813> I<00:21:39.958> can<00:21:40.054> depart<00:21:40.471> my<00:21:40.616> knowledge<00:21:41.033> and<00:21:41.162> then<00:21:41.724> people<00:21:41.981> have<00:21:42.141> to<00:21:42.302> take<00:21:42.639> it<00:21:42.768> and<00:21:42.864> either<00:21:43.169> and<00:21:43.410> work<00:21:43.587> it<00:21:43.667> into<00:21:44.068> the<00:21:44.229> new<00:21:44.470> world<00:21:45.096> or,<00:21:46.140> and<00:21:46.236> again,<00:21:46.798> take<00:21:47.039> some<00:21:47.280> of<00:21:47.424> it<00:21:47.521> and<00:21:47.601> maybe<00:21:47.922> reject<00:21:48.404> other<00:21:48.645> parts<00:21:48.902> of<00:21:49.046> it<00:21:49.110> because<00:21:49.351> the<00:21:49.447> world<00:21:49.672> has<00:21:49.833> changed.

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Speaking<00:21:51.358> of<00:21:51.455> the<00:21:51.535> new<00:21:51.696> world,<00:21:52.001> I'm<00:21:52.113> not<00:21:52.322> sure,<00:21:52.820> like<00:21:53.044> a<00:21:53.125> lot<00:21:53.237> of<00:21:53.301> people<00:21:53.542> I'm<00:21:53.863> talking<00:21:54.265> to<00:21:54.746> for<00:21:54.907> this<00:21:55.549> show,<00:21:57.323> AI<00:21:57.743> is<00:21:58.050> completely<00:21:59.603> disrupting<00:22:00.331> their<00:22:00.638> whole<00:22:01.544> business,<00:22:02.029> their<00:22:02.175> whole<00:22:02.353> lives.

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Is<00:22:03.566> it<00:22:03.647> affecting<00:22:04.374> the<00:22:05.248> actual<00:22:05.652> consumer<00:22:05.960> product<00:22:06.379> industry,<00:22:06.880> the<00:22:07.025> athletic<00:22:07.670> apparel<00:22:08.558> industry<00:22:08.962> at<00:22:09.042> all?

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Well,<00:22:11.560> starting<00:22:11.948> about<00:22:12.351> 8<00:22:12.529> months<00:22:12.771> ago,<00:22:13.884> I<00:22:13.981> definitely<00:22:14.482> introduced<00:22:15.338> the<00:22:15.743> brand<00:22:16.084> product<00:22:16.473> teams<00:22:16.878> to<00:22:17.203> this.

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And,<00:22:19.959> you<00:22:20.056> know,<00:22:20.624> the<00:22:21.582> analog<00:22:22.247> analogy<00:22:22.977> of<00:22:23.139> this<00:22:23.626> was<00:22:23.950> exactly<00:22:24.502> what<00:22:24.664> I<00:22:24.697> said<00:22:25.070> before.

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The<00:22:26.648> winning<00:22:27.439> formula<00:22:28.246> for<00:22:29.893> my<00:22:30.199> surfskate,<00:22:30.829> snowboard,<00:22:31.636> and<00:22:32.524> yoga<00:22:32.927> brand<00:22:33.428> was<00:22:33.750> to<00:22:34.784> take<00:22:35.042> West<00:22:35.369> Coast<00:22:35.777> functional<00:22:36.348> fabrics<00:22:37.262> and<00:22:37.409> fits<00:22:38.535> and<00:22:38.714> marry<00:22:39.024> them<00:22:39.204> with,<00:22:40.003> you<00:22:40.101> know,<00:22:40.264> Italian<00:22:40.983> fit<00:22:41.162> and<00:22:41.226> styling.

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So,<00:22:44.935> God,<00:22:45.338> now<00:22:45.435> I<00:22:45.532> forgot<00:22:45.903> what<00:22:45.951> I<00:22:46.048> was<00:22:46.225> talking<00:22:46.628> about,<00:22:46.886> Clint.

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Oh,<00:22:47.692> no,<00:22:47.870> no,<00:22:48.015> no.

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We<00:22:48.321> were<00:22:48.418> just<00:22:48.563> talking<00:22:48.724> about<00:22:48.886> AI.

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Sorry.

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Oh<00:22:50.112> yeah.

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Yeah.

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So,<00:22:51.044> so<00:22:51.191> if<00:22:51.354> I<00:22:51.502> look<00:22:51.681> at<00:22:51.779> it,<00:22:51.910> like,<00:22:52.172> I<00:22:52.188> like,<00:22:53.216> On<00:22:53.312> an<00:22:53.536> analog<00:22:54.033> basis,<00:22:54.498> I<00:22:54.659> connected<00:22:55.155> two<00:22:55.396> disparate<00:22:56.053> things,<00:22:56.758> which<00:22:56.983> is<00:22:57.496> Italian<00:22:58.041> styling<00:22:58.666> with<00:22:58.842> very<00:22:59.307> dumpy,<00:22:59.708> ugly<00:23:00.510> West<00:23:00.766> Coast,<00:23:01.327> you<00:23:01.407> know,<00:23:01.584> 1980s,<00:23:02.690> '90s,<00:23:03.171> 2000s,<00:23:04.437> you<00:23:04.533> know,<00:23:04.854> functional<00:23:05.335> apparel.

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So<00:23:06.537> when<00:23:06.681> you<00:23:06.777> look<00:23:07.018> at<00:23:07.403> AI,<00:23:07.883> then<00:23:08.300> this<00:23:08.541> is<00:23:09.583> essentially<00:23:10.528> what<00:23:10.625> it<00:23:10.705> can<00:23:10.865> do<00:23:11.105> in<00:23:11.250> infinitum.

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And<00:23:12.308> so<00:23:12.708> quickly<00:23:13.125> it<00:23:13.189> can<00:23:13.350> take<00:23:14.231> what,<00:23:14.376> I<00:23:14.488> mean,<00:23:14.873> we<00:23:15.033> all<00:23:15.193> know<00:23:15.434> what<00:23:15.514> it'll<00:23:15.834> do.

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It'll,<00:23:16.379> you<00:23:16.476> know,<00:23:16.620> you<00:23:16.716> take<00:23:17.037> a<00:23:18.383> bicycle<00:23:19.040> and<00:23:19.137> you<00:23:19.217> marry<00:23:19.666> it<00:23:19.762> with<00:23:19.938> a<00:23:20.066> truck<00:23:20.467> and<00:23:20.563> you<00:23:20.643> ask<00:23:20.948> it<00:23:21.044> to<00:23:21.108> make<00:23:21.365> it<00:23:21.445> a<00:23:21.525> piece<00:23:21.782> of<00:23:21.910> furniture.

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And<00:23:22.791> it's<00:23:23.865> spectacular.

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What<00:23:25.196> it<00:23:25.276> can<00:23:25.453> do.

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So<00:23:26.560> the—<00:23:28.084> and<00:23:28.164> then<00:23:28.341> moving<00:23:28.742> that<00:23:28.982> right<00:23:29.207> from<00:23:29.383> a<00:23:29.544> picture<00:23:30.025> right<00:23:30.282> into<00:23:30.667> a<00:23:30.747> digital<00:23:31.212> 3D<00:23:31.710> scan<00:23:32.415> and,<00:23:32.977> you<00:23:33.057> know,<00:23:33.218> doing<00:23:33.538> a<00:23:33.619> fit<00:23:34.020> on<00:23:34.132> a<00:23:34.276> body<00:23:35.143> for<00:23:35.399> a<00:23:35.480> piece<00:23:35.784> of<00:23:35.897> apparel.

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And<00:23:37.164> then,<00:23:37.629> you<00:23:37.661> know,<00:23:37.950> then<00:23:38.191> doing<00:23:38.512> the,<00:23:39.314> uh,<00:23:39.490> the<00:23:39.635> grades<00:23:40.052> from<00:23:40.373> extra<00:23:40.613> small<00:23:40.934> to<00:23:40.998> extra<00:23:41.399> large,<00:23:41.800> and<00:23:41.881> then<00:23:42.057> being<00:23:42.282> able<00:23:42.410> to<00:23:42.538> do<00:23:42.699> it<00:23:42.795> again,<00:23:43.100> not<00:23:43.341> just<00:23:43.501> for<00:23:43.726> North<00:23:43.982> American<00:23:44.464> fit,<00:23:44.784> but<00:23:44.945> for<00:23:45.169> a,<00:23:46.052> um,<00:23:46.613> you<00:23:46.645> know,<00:23:47.716> a,<00:23:47.736> uh,<00:23:48.314> an<00:23:48.458> Asian<00:23:48.859> fit<00:23:49.501> or,<00:23:50.062> you<00:23:50.143> know,<00:23:50.720> a<00:23:50.736> Netherlands<00:23:51.506> fit,<00:23:51.843> you<00:23:51.923> know,<00:23:52.148> where<00:23:52.244> they're<00:23:52.405> the<00:23:52.565> tallest<00:23:52.886> people<00:23:53.207> in<00:23:53.271> the<00:23:53.431> world.

00:23:54.073 --> 00:23:56.071
You<00:23:54.153> know,<00:23:54.330> this<00:23:54.571> is<00:23:54.731> like<00:23:55.117> This<00:23:55.214> is<00:23:55.441> phenomenal.

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It's<00:23:56.265> kind<00:23:56.443> of<00:23:56.508> like<00:23:56.669> the<00:23:56.766> same,<00:23:57.947> you<00:23:57.979> know,<00:23:58.125> doing<00:23:58.513> a<00:23:58.593> video.

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I<00:23:59.256> don't<00:23:59.564> even<00:23:59.709> have<00:23:59.838> to<00:23:59.984> do<00:24:00.129> the<00:24:00.226> video<00:24:00.631> anymore.

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It<00:24:01.197> can<00:24:01.358> do<00:24:01.843> everything<00:24:02.312> for<00:24:02.635> me<00:24:02.733> and<00:24:02.894> give<00:24:03.072> me<00:24:03.298> an<00:24:03.929> animated<00:24:04.349> picture<00:24:04.576> of<00:24:04.656> myself,<00:24:05.236> and<00:24:05.316> I<00:24:05.461> can<00:24:06.202> get<00:24:06.347> something<00:24:06.749> out<00:24:06.927> to<00:24:07.072> my,<00:24:09.100> my<00:24:09.342> people.

00:24:09.664 --> 00:24:15.932
But<00:24:09.825> then<00:24:10.050> I<00:24:10.147> can<00:24:10.308> do<00:24:10.469> it<00:24:10.614> in<00:24:10.791> 3<00:24:11.113> or<00:24:11.194> 4<00:24:11.435> different<00:24:11.757> languages,<00:24:12.401> and<00:24:12.482> my<00:24:12.724> lips<00:24:13.046> move<00:24:13.287> perfectly<00:24:13.851> into<00:24:13.980> that<00:24:14.238> language,<00:24:14.657> and<00:24:14.738> it<00:24:14.835> makes<00:24:15.077> it<00:24:15.206> feel<00:24:15.400> so<00:24:15.771> real.

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We're<00:24:17.094> moving<00:24:17.482> really<00:24:17.724> quickly<00:24:18.273> in<00:24:18.434> this,<00:24:18.773> and,<00:24:19.241> and<00:24:19.483> I'm<00:24:19.887> really<00:24:20.129> excited<00:24:20.629> about<00:24:20.807> it.

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It's<00:24:21.785> fascinating,<00:24:22.427> huh?

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It's<00:24:22.829> scary<00:24:24.355> because,<00:24:24.997> I<00:24:25.013> mean,<00:24:25.222> I<00:24:25.238> don't<00:24:25.463> think<00:24:25.656> in<00:24:25.704> our<00:24:25.881> lifetimes<00:24:27.406> we've<00:24:27.583> seen<00:24:27.792> a<00:24:27.808> technology<00:24:28.451> like<00:24:28.691> this.

00:24:29.318 --> 00:24:32.386
You<00:24:29.350> know,<00:24:29.575> you<00:24:29.655> could<00:24:29.960> argue<00:24:30.217> the<00:24:30.298> internet,<00:24:30.523> but<00:24:30.683> this<00:24:30.780> seems<00:24:31.004> like<00:24:31.261> 100<00:24:31.583> times<00:24:31.968> the<00:24:32.048> internet.

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Um,<00:24:33.574> I<00:24:33.655> would,<00:24:33.896> I<00:24:33.912> would<00:24:34.056> agree.

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I'm<00:24:34.474> such—<00:24:35.662> and<00:24:35.823> I<00:24:36.064> love,<00:24:36.385> you<00:24:36.417> know,<00:24:36.466> of<00:24:36.706> course,<00:24:37.028> being<00:24:37.204> a<00:24:37.285> creative<00:24:37.686> person,<00:24:38.007> I<00:24:38.232> love<00:24:38.554> change<00:24:39.196> and<00:24:39.292> I<00:24:39.517> love<00:24:39.758> the<00:24:40.256> disruption.

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I<00:24:41.284> think<00:24:41.557> it's<00:24:42.119> some<00:24:42.344> people,<00:24:43.308> you<00:24:43.340> know,<00:24:43.453> it's<00:24:43.774> everything's<00:24:44.256> on<00:24:44.336> a<00:24:44.432> bell<00:24:44.673> curve<00:24:44.930> again.

00:24:45.300 --> 00:24:55.608
You<00:24:45.396> have<00:24:45.637> probably<00:24:45.958> 20%<00:24:46.617> on<00:24:47.082> one<00:24:47.307> people<00:24:47.580> on<00:24:47.644> the<00:24:47.805> bell<00:24:48.030> curve<00:24:48.303> that<00:24:48.463> are<00:24:48.608> super<00:24:49.025> secure,<00:24:49.635> don't<00:24:49.876> like<00:24:50.117> change,<00:24:50.615> and<00:24:51.161> you<00:24:51.257> got<00:24:51.417> the<00:24:51.562> people<00:24:51.851> in<00:24:51.899> the<00:24:51.979> middle,<00:24:52.301> and<00:24:52.381> then<00:24:52.525> you've<00:24:52.686> got<00:24:52.862> the<00:24:53.023> kind<00:24:53.200> of<00:24:53.344> the<00:24:53.505> people<00:24:53.762> that<00:24:53.906> are<00:24:53.986> in<00:24:54.067> the<00:24:54.227> creative<00:24:54.629> end<00:24:54.853> on<00:24:55.014> the<00:24:55.110> other<00:24:55.271> side.

00:24:55.656 --> 00:24:59.092
I,<00:24:56.314> I<00:24:56.459> can't,<00:24:56.957> I<00:24:57.037> can't<00:24:57.438> wait<00:24:57.759> to<00:24:57.904> see<00:24:58.145> how<00:24:58.321> the<00:24:58.482> world<00:24:58.723> changes.

00:25:00.328 --> 00:25:02.833
I<00:25:00.409> just—<00:25:01.276> it's<00:25:01.516> gonna<00:25:01.693> be<00:25:01.854> superb.

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Yeah,<00:25:03.523> it's,<00:25:03.861> it's<00:25:04.005> an<00:25:04.037> exciting<00:25:04.503> time<00:25:04.728> to<00:25:04.824> be<00:25:04.968> alive.

00:25:05.867 --> 00:25:11.680
I<00:25:06.012> wonder,<00:25:06.815> like,<00:25:06.991> you<00:25:07.216> built<00:25:07.457> an<00:25:07.537> incredible<00:25:08.292> team,<00:25:08.774> executive<00:25:09.400> team,<00:25:10.026> board,<00:25:10.668> all<00:25:10.764> around<00:25:11.086> Lululemon.

00:25:12.354 --> 00:25:14.241
Um,<00:25:13.175> How<00:25:13.417> did<00:25:13.579> you<00:25:13.740> think<00:25:13.918> about<00:25:14.144> that?

00:25:14.321 --> 00:25:15.920
How<00:25:14.467> do<00:25:14.531> you<00:25:14.693> think<00:25:14.887> about<00:25:15.097> recruiting<00:25:15.597> talent?

00:25:15.985 --> 00:25:18.908
How<00:25:16.098> do<00:25:16.146> you<00:25:16.324> think<00:25:16.502> about<00:25:17.600> recruiting<00:25:18.101> an<00:25:18.181> executive<00:25:18.666> team?

00:25:21.140 --> 00:25:32.686
Well,<00:25:22.124> I,<00:25:22.931> at<00:25:23.173> Lululemon,<00:25:23.900> I<00:25:24.061> think<00:25:24.303> I<00:25:24.336> did<00:25:24.561> a<00:25:24.642> very,<00:25:25.530> very<00:25:25.934> good<00:25:26.160> job<00:25:26.821> for<00:25:26.983> the<00:25:27.128> first,<00:25:28.258> you<00:25:28.355> know,<00:25:30.260> 6,<00:25:30.437> 7<00:25:30.858> years<00:25:31.343> when<00:25:31.505> we<00:25:31.650> were<00:25:31.812> in<00:25:31.909> high<00:25:32.314> growth.

00:25:34.335 --> 00:25:43.246
Mostly<00:25:34.821> because<00:25:35.209> our<00:25:35.451> culture<00:25:36.034> was<00:25:36.357> built<00:25:37.651> to<00:25:38.443> bring<00:25:38.767> on<00:25:38.929> executives<00:25:39.609> and<00:25:39.841> have<00:25:40.322> them<00:25:41.192> I<00:25:41.337> guess,<00:25:41.658> drink<00:25:41.914> the<00:25:42.059> Kool-Aid<00:25:42.556> of<00:25:42.636> our<00:25:42.861> culture.

00:25:44.160 --> 00:25:49.663
And<00:25:44.225> our<00:25:44.465> culture<00:25:44.866> was,<00:25:45.203> you<00:25:45.283> know,<00:25:46.310> very<00:25:46.888> set<00:25:47.513> in<00:25:47.770> integrity<00:25:48.412> and<00:25:48.572> responsibility.

00:25:50.722 --> 00:25:58.070
And<00:25:51.620> I<00:25:52.727> also<00:25:53.145> think<00:25:54.348> I<00:25:54.733> read<00:25:54.909> the<00:25:55.070> book,<00:25:55.310> The<00:25:55.615> E-Myth,<00:25:56.514> just<00:25:56.738> before<00:25:57.075> I<00:25:57.155> started<00:25:57.556> Lululemon.

00:25:58.663 --> 00:26:05.610
And<00:25:58.760> a<00:25:58.920> big<00:25:59.225> part<00:25:59.498> of<00:25:59.562> that<00:26:00.027> is<00:26:01.006> an<00:26:01.150> executive<00:26:01.792> has<00:26:02.129> to<00:26:02.995> train<00:26:03.348> and<00:26:03.492> develop<00:26:03.893> people<00:26:04.439> and<00:26:04.519> then<00:26:04.760> get<00:26:05.000> out<00:26:05.113> of<00:26:05.177> their<00:26:05.401> way.

00:26:06.524 --> 00:26:11.567
And<00:26:07.343> That<00:26:07.568> was<00:26:07.761> my<00:26:07.921> mantra<00:26:08.451> and<00:26:08.612> it<00:26:08.853> worked<00:26:09.174> really<00:26:09.431> well<00:26:09.672> in<00:26:09.817> a<00:26:09.897> high-growth<00:26:10.395> company<00:26:10.796> like<00:26:11.037> Lululemon.

00:26:12.017 --> 00:26:20.304
So<00:26:12.804> these,<00:26:13.141> I'm<00:26:13.350> going<00:26:13.430> to<00:26:13.527> call<00:26:13.768> them<00:26:13.928> 95%,<00:26:15.454> you<00:26:15.534> know,<00:26:15.759> 22<00:26:16.337> to<00:26:16.498> 26-year-old<00:26:17.462> women,<00:26:18.329> you<00:26:18.409> know,<00:26:18.506> just<00:26:18.811> really<00:26:19.068> took<00:26:19.293> the<00:26:19.469> world<00:26:19.694> by<00:26:19.790> storm.

00:26:20.915 --> 00:26:41.230
And<00:26:21.075> because<00:26:21.461> our<00:26:22.103> training<00:26:22.521> and<00:26:22.601> development<00:26:23.468> program<00:26:23.966> was<00:26:24.127> so<00:26:24.609> good<00:26:24.946> and<00:26:25.091> people<00:26:25.476> were<00:26:25.572> so<00:26:25.958> responsible<00:26:26.938> and<00:26:27.580> we<00:26:27.725> could<00:26:27.965> have<00:26:29.090> very,<00:26:29.748> very<00:26:30.294> open<00:26:30.551> discussions<00:26:31.194> about<00:26:31.579> absolutely<00:26:32.157> everything<00:26:32.703> because<00:26:33.362> Through<00:26:33.603> the<00:26:33.747> Landmark<00:26:34.309> course,<00:26:34.582> it<00:26:34.711> kind<00:26:34.871> of<00:26:34.968> takes<00:26:35.305> away<00:26:36.316> any<00:26:36.637> personal,<00:26:37.537> like,<00:26:39.126> reaction<00:26:39.704> to<00:26:39.865> what<00:26:40.025> another<00:26:40.427> person<00:26:40.828> may<00:26:40.989> say.

00:26:41.294 --> 00:26:44.072
Because,<00:26:42.418> you<00:26:42.450> know,<00:26:42.851> it<00:26:42.899> builds<00:26:43.221> on<00:26:43.381> communication.

00:26:44.184 --> 00:26:56.483
And<00:26:44.987> our<00:26:45.163> interpretation<00:26:45.966> of<00:26:46.047> what<00:26:46.207> somebody<00:26:46.544> says<00:26:46.946> or<00:26:47.090> does<00:26:47.411> is<00:26:47.556> really<00:26:47.877> rooted<00:26:48.214> in,<00:26:48.840> you<00:26:48.873> know,<00:26:49.081> our<00:26:49.242> childhood<00:26:49.916> and<00:26:50.045> what<00:26:50.221> people,<00:26:51.249> our<00:26:51.409> friends<00:26:51.811> think<00:26:51.988> we<00:26:52.132> should<00:26:52.389> be,<00:26:52.694> or<00:26:52.951> family<00:26:53.352> thinks<00:26:53.593> we<00:26:53.673> should<00:26:53.914> be,<00:26:54.155> or<00:26:54.316> what<00:26:54.476> our,<00:26:54.781> even<00:26:54.958> our<00:26:55.119> genetics<00:26:55.600> think<00:26:55.905> we<00:26:56.002> should<00:26:56.242> be.

00:26:56.885 --> 00:27:14.402
So,<00:26:57.527> by<00:26:57.768> being,<00:26:58.089> having<00:26:58.474> choice<00:26:59.052> in<00:26:59.197> how<00:26:59.454> we<00:26:59.679> listen<00:27:00.016> and<00:27:00.160> how<00:27:00.337> we<00:27:00.497> communicate<00:27:01.605> created<00:27:01.943> the<00:27:02.103> ability<00:27:02.665> for<00:27:02.906> these<00:27:03.147> executives<00:27:03.869> to<00:27:04.094> be<00:27:05.058> I<00:27:05.620> call<00:27:05.941> best<00:27:06.262> in<00:27:06.342> the<00:27:06.503> world<00:27:07.322> and<00:27:07.466> probably<00:27:07.884> 20<00:27:08.205> years<00:27:08.526> ahead<00:27:08.847> of<00:27:09.024> their<00:27:09.875> stage<00:27:11.882> and<00:27:12.203> really<00:27:12.444> allowed<00:27:12.700> Lululemon<00:27:13.423> to<00:27:13.568> grow<00:27:13.728> at<00:27:13.824> the<00:27:13.969> rate<00:27:14.130> it<00:27:14.226> did.

00:27:15.430 --> 00:27:18.176
How<00:27:15.526> do<00:27:15.575> you<00:27:15.671> think<00:27:15.912> about<00:27:16.217> launching<00:27:16.634> a<00:27:16.650> new<00:27:16.955> product<00:27:17.421> within<00:27:17.678> a<00:27:17.742> brand?

00:27:18.722 --> 00:27:26.525
I<00:27:18.738> mean,<00:27:19.669> what<00:27:20.006> needs<00:27:20.247> to<00:27:20.327> be<00:27:20.488> checked<00:27:20.873> off<00:27:21.210> in<00:27:21.291> order<00:27:21.532> for<00:27:21.628> you<00:27:21.756> to<00:27:21.837> be<00:27:21.917> like,<00:27:22.094> all<00:27:22.174> right,<00:27:22.334> we're<00:27:22.575> launching<00:27:23.057> this<00:27:24.181> new<00:27:24.422> shoe<00:27:24.904> or<00:27:25.128> new<00:27:25.465> whatever<00:27:25.851> it<00:27:25.947> is,<00:27:26.252> right?

00:27:26.589 --> 00:27:29.560
Like,<00:27:28.275> how<00:27:28.677> big<00:27:28.837> of<00:27:28.934> a<00:27:28.998> bar<00:27:29.255> is<00:27:29.383> that?

00:27:30.667 --> 00:27:38.313
Yeah,<00:27:30.747> I<00:27:30.843> think<00:27:31.003> maybe<00:27:31.308> you're<00:27:31.468> talking<00:27:31.885> about,<00:27:32.045> you<00:27:32.142> know,<00:27:32.590> um,<00:27:33.713> I<00:27:33.745> mean,<00:27:33.905> I<00:27:34.033> left<00:27:34.225> Lululemon<00:27:34.690> in<00:27:34.771> 2013<00:27:35.636> or<00:27:35.732> had,<00:27:36.053> you<00:27:36.133> know,<00:27:36.309> some,<00:27:36.871> some<00:27:37.159> say<00:27:37.416> in<00:27:37.576> what<00:27:37.880> happened.

00:27:38.361 --> 00:27:43.603
And<00:27:38.458> they,<00:27:38.842> they<00:27:39.003> went<00:27:39.163> into<00:27:39.596> skincare<00:27:40.301> products,<00:27:41.167> uh,<00:27:41.423> which<00:27:41.583> was<00:27:41.824> a,<00:27:42.529> which<00:27:42.770> was<00:27:42.930> a<00:27:43.010> disaster.

00:27:43.812 --> 00:27:46.681
And<00:27:43.908> then<00:27:44.068> they<00:27:44.228> bought<00:27:44.613> Mirror<00:27:44.886> in<00:27:45.014> the<00:27:45.094> middle<00:27:45.415> of,<00:27:45.735> uh,<00:27:46.312> COVID.

00:27:46.777 --> 00:27:47.915
That<00:27:46.954> was<00:27:47.130> a<00:27:47.194> disaster.

00:27:48.557 --> 00:28:04.953
And<00:27:48.781> really,<00:27:49.118> it's,<00:27:49.999> it's,<00:27:50.961> it's<00:27:51.138> not<00:27:51.506> checking<00:27:51.923> the<00:27:52.067> box<00:27:52.548> of<00:27:53.751> what<00:27:53.991> is<00:27:54.328> the,<00:27:55.594> what<00:27:55.706> is<00:27:55.931> the<00:27:57.279> business<00:27:57.841> sales<00:27:59.045> model<00:28:00.329> that<00:28:00.570> Lululemon<00:28:01.132> has<00:28:01.774> on<00:28:02.031> the<00:28:03.460> e-commerce<00:28:04.263> and<00:28:04.423> in<00:28:04.520> the<00:28:04.600> store.

00:28:05.788 --> 00:28:11.600
And<00:28:06.848> in<00:28:06.992> other<00:28:07.169> words,<00:28:08.036> if,<00:28:08.919> you<00:28:09.015> know,<00:28:09.256> with<00:28:09.497> apparel,<00:28:10.219> we<00:28:10.621> know<00:28:10.878> it<00:28:10.958> exactly.

00:28:11.729 --> 00:28:17.139
Like<00:28:11.905> somebody<00:28:12.371> comes<00:28:12.772> in,<00:28:13.671> they<00:28:13.832> spend,<00:28:14.458> you<00:28:14.538> know,<00:28:14.956> 36<00:28:15.791> seconds<00:28:16.144> looking<00:28:16.465> at<00:28:16.545> a<00:28:16.642> garment.

00:28:17.220 --> 00:28:23.972
It<00:28:17.364> takes<00:28:17.621> us<00:28:17.830> a<00:28:18.071> minute<00:28:18.392> and<00:28:18.472> a<00:28:18.488> half<00:28:18.809> to,<00:28:19.612> to<00:28:19.917> describe<00:28:20.399> that<00:28:20.656> person<00:28:21.121> what<00:28:21.282> the<00:28:21.378> garment<00:28:21.779> does,<00:28:22.101> what<00:28:22.261> it<00:28:22.567> what<00:28:22.729> it<00:28:23.617> needs.

00:28:24.102 --> 00:28:27.429
We<00:28:24.263> get<00:28:24.441> them<00:28:24.602> the<00:28:24.828> piece,<00:28:25.168> they<00:28:25.313> get<00:28:25.426> in<00:28:25.491> the<00:28:25.636> change<00:28:25.975> room,<00:28:26.201> they<00:28:26.363> get<00:28:26.557> in<00:28:26.767> and<00:28:26.863> they<00:28:27.025> get<00:28:27.251> out.

00:28:31.618 --> 00:28:32.893
Tell<00:28:31.731> me<00:28:31.860> again,<00:28:32.183> Clint,<00:28:32.441> where<00:28:32.586> I<00:28:32.748> was.

00:28:33.797 --> 00:28:38.185
No,<00:28:33.974> yeah,<00:28:34.377> I<00:28:34.426> was<00:28:34.845> just<00:28:35.023> wondering<00:28:35.249> like<00:28:35.507> how<00:28:35.749> high<00:28:35.991> is<00:28:36.152> the<00:28:36.314> bar<00:28:36.781> to<00:28:36.959> launch<00:28:37.217> something<00:28:37.927> new?

00:28:38.866 --> 00:28:40.155
Oh<00:28:38.946> yeah,<00:28:39.301> so<00:28:39.510> thanks<00:28:39.768> for<00:28:39.913> that.

00:28:41.476 --> 00:28:50.329
So<00:28:41.637> in<00:28:41.846> other<00:28:42.088> words,<00:28:42.733> like<00:28:42.926> if<00:28:43.006> it<00:28:43.151> doesn't<00:28:43.554> fit<00:28:43.941> within<00:28:44.344> the<00:28:44.424> system,<00:28:45.246> then<00:28:45.423> it's<00:28:47.504> disruptive<00:28:48.691> to<00:28:48.880> the<00:28:49.567> to<00:28:49.729> the<00:28:49.875> model.

00:28:50.459 --> 00:29:04.394
You<00:28:50.556> need<00:28:51.011> different<00:28:51.352> types<00:28:51.676> of<00:28:51.741> salespeople,<00:28:52.650> you<00:28:52.796> need<00:28:53.056> different<00:28:53.380> types<00:28:53.721> of<00:28:53.786> floor<00:28:54.127> space,<00:28:56.611> and,<00:28:58.701> and<00:28:58.797> it,<00:28:59.746> and<00:29:00.083> then<00:29:00.244> it<00:29:00.887> takes<00:29:01.289> away<00:29:01.932> from<00:29:02.173> the<00:29:02.269> ability<00:29:02.816> to<00:29:02.961> actually<00:29:03.282> sell<00:29:03.764> more<00:29:04.006> apparel.

00:29:05.090 --> 00:29:18.918
So<00:29:05.802> as<00:29:05.980> opposed<00:29:06.449> to<00:29:06.595> moving<00:29:07.081> into<00:29:07.663> technology<00:29:08.472> or<00:29:08.699> moving<00:29:09.039> into<00:29:09.201> skincare<00:29:09.913> products,<00:29:10.738> says,<00:29:11.046> what<00:29:11.159> are<00:29:11.369> ancillary<00:29:12.989> apparel<00:29:13.493> projects<00:29:14.454> which<00:29:14.699> you<00:29:14.862> can<00:29:15.041> move<00:29:15.366> into<00:29:15.855> that<00:29:17.378> that<00:29:17.571> need<00:29:17.875> technology<00:29:18.597> to<00:29:18.822> them.

00:29:19.624 --> 00:29:27.707
And<00:29:19.800> for<00:29:20.025> an<00:29:20.105> example,<00:29:20.827> you'll<00:29:20.939> see<00:29:21.163> the<00:29:21.308> company<00:29:21.725> FIGS<00:29:23.329> that<00:29:23.505> took<00:29:23.729> the<00:29:23.810> Lululemon<00:29:24.307> model<00:29:25.013> and<00:29:25.173> basically<00:29:25.574> put<00:29:25.814> it<00:29:25.959> into<00:29:26.761> hospital<00:29:27.242> scrubs.

00:29:28.445 --> 00:29:35.245
Very<00:29:28.766> ugly,<00:29:29.407> very<00:29:29.824> unfunctional,<00:29:30.706> very,<00:29:31.107> you<00:29:31.187> know,<00:29:31.284> no<00:29:31.572> stretch,<00:29:32.230> no<00:29:32.695> antimicrobial,<00:29:34.539> very<00:29:34.860> dumpy.

00:29:35.758 --> 00:29:39.335
And<00:29:35.839> then,<00:29:36.223> you<00:29:36.304> know,<00:29:36.480> put<00:29:36.721> fashion<00:29:37.282> towards<00:29:37.747> it<00:29:38.068> and<00:29:38.645> technology.

00:29:39.672 --> 00:29:55.657
And<00:29:39.768> then,<00:29:40.265> so<00:29:40.554> that<00:29:40.891> is<00:29:40.955> something<00:29:41.452> that<00:29:41.709> Lululemon<00:29:42.398> should<00:29:42.719> have<00:29:42.976> gone<00:29:43.361> into<00:29:43.778> as<00:29:43.938> an<00:29:44.018> ancillary<00:29:44.820> business<00:29:45.542> something<00:29:45.927> that<00:29:46.088> they<00:29:46.184> can<00:29:46.425> leverage<00:29:46.971> all<00:29:47.148> their<00:29:47.388> back<00:29:47.790> end<00:29:48.111> of<00:29:48.737> fabrics<00:29:49.620> and<00:29:50.375> manufacturing<00:29:51.724> and<00:29:53.088> presentation,<00:29:53.891> merchandising,<00:29:54.694> design,<00:29:55.111> etc.

00:29:56.284 --> 00:30:03.734
How<00:29:56.380> do<00:29:56.444> you<00:29:56.605> think—<00:29:56.862> not<00:29:57.102> to,<00:29:57.504> you<00:29:57.584> know,<00:29:57.745> get<00:29:57.905> you<00:29:57.986> to<00:29:58.323> say<00:29:58.531> anything<00:29:58.869> controversial<00:29:59.511> here,<00:29:59.832> but<00:29:59.993> how<00:30:00.089> do<00:30:00.217> you<00:30:00.314> think<00:30:01.020> acquisitions<00:30:01.759> like<00:30:02.722> Mirror<00:30:03.268> happen?

00:30:04.007 --> 00:30:08.422
With<00:30:04.183> it,<00:30:04.392> like,<00:30:04.569> is<00:30:04.729> it<00:30:04.890> just<00:30:05.115> like,<00:30:05.291> hey,<00:30:05.757> uh,<00:30:06.110> money's<00:30:06.415> going<00:30:06.495> to<00:30:06.576> be<00:30:06.720> unlimited,<00:30:07.362> dollar's<00:30:07.700> always<00:30:07.860> going<00:30:07.973> to<00:30:08.021> be<00:30:08.101> zero?

00:30:09.161 --> 00:30:17.573
I<00:30:09.225> mean,<00:30:09.337> because<00:30:09.530> at<00:30:09.610> the<00:30:09.707> time,<00:30:10.108> particularly<00:30:10.510> during<00:30:10.750> COVID<00:30:11.152> I<00:30:11.248> imagine<00:30:11.955> Lululemon,<00:30:12.597> like,<00:30:12.838> like<00:30:12.998> so<00:30:13.095> many<00:30:13.303> companies<00:30:13.705> were<00:30:14.452> exploding<00:30:15.176> is<00:30:15.320> like,<00:30:15.433> maybe<00:30:15.674> this<00:30:15.900> is<00:30:16.060> how<00:30:16.221> it's<00:30:16.447> always<00:30:16.833> going<00:30:16.929> to<00:30:17.026> be,<00:30:17.428> right?

00:30:18.458 --> 00:30:20.163
Uh,<00:30:18.699> how<00:30:18.795> does<00:30:19.198> something<00:30:19.503> like<00:30:19.664> that<00:30:19.825> happen<00:30:20.082> though?

00:30:20.227 --> 00:30:24.059
Because<00:30:20.324> that<00:30:20.485> really<00:30:20.871> is<00:30:20.951> like<00:30:21.128> a<00:30:21.192> completely<00:30:22.560> different<00:30:22.978> business<00:30:23.461> to<00:30:23.590> hop<00:30:23.784> into.

00:30:26.032 --> 00:30:35.990
I<00:30:26.129> would<00:30:26.291> suspect<00:30:27.180> one<00:30:27.342> of<00:30:27.423> the<00:30:27.585> private<00:30:28.054> equity<00:30:28.798> directors<00:30:29.445> inside<00:30:29.849> of<00:30:29.995> Lululemon<00:30:30.561> had<00:30:30.755> an<00:30:30.982> interest<00:30:31.386> in<00:30:31.532> it<00:30:31.790> and<00:30:32.033> probably<00:30:32.357> proposed<00:30:32.906> it<00:30:33.568> and<00:30:33.649> then<00:30:33.875> recused<00:30:34.537> themselves<00:30:35.183> on<00:30:35.263> the<00:30:35.360> vote<00:30:35.683> of<00:30:35.812> it.

00:30:36.716 --> 00:30:44.952
I<00:30:36.862> think,<00:30:37.201> you,<00:30:37.750> you<00:30:37.782> know,<00:30:38.089> you<00:30:38.315> have<00:30:39.299> Lululemon<00:30:39.800> is<00:30:39.945> such<00:30:40.268> a<00:30:40.349> money<00:30:40.752> machine<00:30:41.705> and<00:30:42.206> It<00:30:42.367> has<00:30:42.849> almost—<00:30:43.266> has<00:30:43.507> a<00:30:43.668> billion<00:30:43.989> dollars<00:30:44.390> in<00:30:44.470> the<00:30:44.631> bank.

00:30:45.578 --> 00:30:55.999
And<00:30:46.301> Frank,<00:30:46.622> quite<00:30:46.879> frankly,<00:30:47.345> it<00:30:47.441> doesn't<00:30:47.746> have<00:30:48.083> the<00:30:48.244> board<00:30:48.468> of<00:30:48.565> directors<00:30:49.207> that<00:30:50.010> can<00:30:50.315> see<00:30:50.572> the<00:30:50.652> future,<00:30:51.760> uh,<00:30:52.242> for—<00:30:52.723> and<00:30:52.820> doesn't<00:30:53.125> understand,<00:30:53.783> like<00:30:53.960> I<00:30:54.104> was<00:30:54.265> talking<00:30:54.634> about,<00:30:54.923> the<00:30:55.004> sales<00:30:55.469> process.

00:30:56.609 --> 00:31:04.124
So<00:30:57.557> there's<00:30:57.781> an<00:30:57.878> incentive<00:30:58.359> for<00:30:58.584> the<00:30:58.680> private<00:30:59.146> equity<00:30:59.403> firms<00:30:59.804> to<00:30:59.901> make<00:31:00.206> money<00:31:00.768> inside<00:31:01.250> of<00:31:01.394> the<00:31:01.555> board<00:31:01.747> of<00:31:01.876> directors,<00:31:02.390> which<00:31:02.598> I'd<00:31:02.711> say<00:31:02.935> is<00:31:03.096> a<00:31:03.176> conflict<00:31:03.674> of<00:31:03.819> interest.

00:31:05.167 --> 00:31:16.312
And<00:31:05.328> I'd<00:31:05.440> say<00:31:05.810> that,<00:31:06.211> um,<00:31:07.988> Um,<00:31:10.166> it,<00:31:11.779> um,<00:31:13.634> it—<00:31:14.037> yeah,<00:31:14.473> I'm<00:31:14.602> just<00:31:14.779> going<00:31:14.957> to<00:31:15.086> then<00:31:15.328> repeat<00:31:15.667> what<00:31:15.828> I<00:31:15.844> was<00:31:15.989> going<00:31:16.102> to<00:31:16.280> say.

00:31:16.393 --> 00:31:24.332
Just<00:31:16.635> the—<00:31:16.959> just<00:31:17.525> not<00:31:17.913> a<00:31:17.929> knowledge<00:31:18.495> about<00:31:18.980> how,<00:31:20.338> how<00:31:20.516> the<00:31:20.678> process<00:31:21.163> inside<00:31:21.583> Lululemon<00:31:22.133> works<00:31:22.440> to<00:31:22.521> make<00:31:22.796> it,<00:31:23.022> to<00:31:23.152> make<00:31:23.426> it<00:31:23.507> a<00:31:23.653> viable<00:31:24.154> product.

00:31:24.720 --> 00:31:26.093
Let<00:31:24.865> me,<00:31:24.963> let<00:31:25.076> me<00:31:25.205> go<00:31:25.367> back<00:31:25.625> a<00:31:25.996> bit.

00:31:26.398 --> 00:31:29.452
It<00:31:26.478> has<00:31:26.880> too<00:31:27.121> much<00:31:27.475> money<00:31:28.519> sitting<00:31:28.985> in<00:31:29.066> the<00:31:29.227> bank.

00:31:29.564 --> 00:31:37.655
It<00:31:29.773> doesn't<00:31:30.094> want<00:31:30.255> to<00:31:30.351> give<00:31:30.657> dividends<00:31:31.316> because<00:31:31.637> the<00:31:31.701> minute<00:31:32.023> it<00:31:32.119> gives<00:31:32.441> dividends<00:31:33.019> and<00:31:33.100> it's<00:31:33.228> signaling<00:31:33.887> to<00:31:34.048> the<00:31:34.176> market<00:31:34.691> that<00:31:35.910> it<00:31:35.991> doesn't<00:31:36.314> know<00:31:36.476> where<00:31:36.573> to<00:31:36.734> put<00:31:36.896> its<00:31:37.058> money<00:31:37.365> anymore.

00:31:38.415 --> 00:31:49.221
So,<00:31:39.788> and<00:31:39.885> it<00:31:39.966> doesn't<00:31:40.273> have<00:31:40.515> the<00:31:40.612> knowledge<00:31:41.097> inside<00:31:41.485> of<00:31:41.566> the<00:31:41.663> company<00:31:42.147> to<00:31:42.374> actually<00:31:43.666> leverage<00:31:44.086> the<00:31:44.151> money<00:31:44.409> to<00:31:44.555> put<00:31:44.636> it<00:31:44.733> into<00:31:45.039> something<00:31:45.604> that<00:31:45.863> would<00:31:47.138> exponentially<00:31:47.864> grow<00:31:48.688> the<00:31:48.833> company.

00:31:50.625 --> 00:31:54.142
What's<00:31:50.867> it<00:31:51.013> like<00:31:51.352> watching<00:31:51.852> something<00:31:52.304> you<00:31:52.466> created<00:31:53.273> from<00:31:53.450> the<00:31:53.597> outside?

00:31:54.449 --> 00:31:55.114
That<00:31:54.500> must<00:31:54.722> be<00:31:54.807> fascinating.

00:31:57.240 --> 00:31:58.767
Yeah,<00:31:58.478> it<00:31:58.623> is.

00:31:58.864 --> 00:32:00.970
It<00:31:58.960> is<00:31:59.201> really<00:31:59.427> no<00:31:59.604> different<00:31:59.925> than<00:32:00.086> having<00:32:00.424> a<00:32:00.552> child.

00:32:01.196 --> 00:32:05.007
You<00:32:01.228> know,<00:32:01.453> it<00:32:01.855> grows<00:32:02.241> up,<00:32:02.434> it<00:32:02.563> becomes<00:32:02.916> a<00:32:03.045> teenager,<00:32:03.785> it,<00:32:04.090> you<00:32:04.187> know,<00:32:04.412> has<00:32:04.669> its<00:32:04.766> own<00:32:04.798> points<00:32:04.894> of<00:32:04.943> view.

00:32:06.446 --> 00:32:09.763
And<00:32:06.558> it<00:32:06.767> gets<00:32:07.087> out<00:32:07.183> of<00:32:07.263> the<00:32:07.408> house,<00:32:07.808> it<00:32:07.968> has<00:32:08.145> lots<00:32:08.401> of<00:32:08.545> arguments<00:32:09.026> with<00:32:09.170> the<00:32:09.330> parent.

00:32:10.372 --> 00:32:27.355
And,<00:32:10.692> um,<00:32:11.493> you<00:32:11.573> know,<00:32:11.733> if<00:32:11.846> it's<00:32:12.054> a<00:32:12.118> male<00:32:12.615> anyway,<00:32:13.031> you<00:32:13.127> know,<00:32:13.288> when<00:32:13.672> males<00:32:13.993> take<00:32:14.233> a<00:32:14.297> long<00:32:14.553> time<00:32:14.874> to,<00:32:15.338> to<00:32:15.435> mature,<00:32:15.995> and<00:32:16.652> it<00:32:16.796> probably,<00:32:17.357> you<00:32:17.437> know,<00:32:17.742> from<00:32:17.998> 20s<00:32:18.479> to<00:32:18.559> 30s<00:32:19.104> is<00:32:19.200> trying<00:32:19.440> to<00:32:19.600> be<00:32:19.696> its<00:32:19.921> own<00:32:20.145> person<00:32:20.562> and,<00:32:21.267> and,<00:32:21.747> you<00:32:21.859> know,<00:32:22.468> um,<00:32:23.510> you<00:32:23.590> know,<00:32:24.551> divorce<00:32:24.968> itself<00:32:25.368> from<00:32:25.544> its<00:32:25.753> parent<00:32:26.089> to<00:32:26.249> kind<00:32:26.426> of<00:32:26.570> prove<00:32:26.890> itself.

00:32:28.156 --> 00:32:30.703
And,<00:32:28.476> um,<00:32:28.813> I<00:32:28.893> think<00:32:29.133> that's<00:32:29.518> the,<00:32:29.854> the<00:32:29.998> stage<00:32:30.399> it's<00:32:30.639> in.

00:32:30.816 --> 00:32:33.796
And,<00:32:31.521> you<00:32:31.553> know,<00:32:31.713> that's,<00:32:32.242> that's<00:32:32.562> the<00:32:32.658> way<00:32:32.818> for<00:32:32.979> me<00:32:33.139> to<00:32:33.283> look<00:32:33.523> at<00:32:33.700> it.

00:32:33.860 --> 00:32:36.633
It's,<00:32:34.196> it's,<00:32:34.581> it's,<00:32:34.885> uh<00:32:35.238> it's<00:32:35.398> a<00:32:35.462> natural<00:32:36.104> process.

00:32:37.868 --> 00:32:43.127
Was<00:32:38.028> it<00:32:38.108> cathartic<00:32:38.669> to<00:32:38.766> write<00:32:38.926> your<00:32:39.070> book<00:32:39.407> about<00:32:39.696> the<00:32:39.776> founding<00:32:40.433> and<00:32:40.738> the<00:32:41.941> creating<00:32:42.358> of<00:32:42.502> Lululemon?

00:32:43.961 --> 00:32:45.998
Yeah,<00:32:44.106> it<00:32:44.186> definitely<00:32:44.587> was,<00:32:44.843> and<00:32:45.148> I<00:32:45.244> quite<00:32:45.485> enjoyed<00:32:45.950> it.

00:32:46.687 --> 00:32:58.698
Went<00:32:46.912> through<00:32:47.088> lots<00:32:47.393> of<00:32:47.489> renditions<00:32:48.114> of<00:32:48.195> it,<00:32:49.012> and<00:32:49.959> it<00:32:49.991> was<00:32:50.215> my<00:32:50.536> way<00:32:50.841> of—<00:32:51.578> I<00:32:51.594> never<00:32:51.979> had<00:32:52.284> the<00:32:52.380> chance<00:32:53.021> when<00:32:53.166> I<00:32:53.342> left<00:32:53.583> Lululemon<00:32:54.144> to<00:32:54.384> leave<00:32:54.689> the<00:32:54.769> foundation,<00:32:55.491> which<00:32:55.667> it<00:32:55.812> needed<00:32:56.068> to<00:32:56.229> do<00:32:56.389> to<00:32:56.549> grow<00:32:57.030> in<00:32:57.110> the<00:32:57.191> way<00:32:57.415> that<00:32:57.576> I<00:32:57.672> thought<00:32:57.912> it<00:32:58.008> needed<00:32:58.313> to<00:32:58.393> grow.

00:32:59.179 --> 00:33:12.567
So<00:32:59.660> my<00:33:00.542> desire<00:33:01.184> was<00:33:01.360> to<00:33:01.584> really<00:33:02.387> provide<00:33:02.965> information<00:33:03.687> for<00:33:03.928> the<00:33:04.024> management<00:33:04.651> and<00:33:04.795> the<00:33:04.892> directors<00:33:05.437> to<00:33:05.534> be<00:33:05.710> introspective<00:33:06.497> and<00:33:06.577> go,<00:33:07.380> you<00:33:07.477> know,<00:33:07.862> like,<00:33:08.408> how<00:33:08.809> do<00:33:08.906> we<00:33:09.082> need<00:33:09.371> to<00:33:09.532> operate<00:33:10.094> within<00:33:10.913> integrity<00:33:11.475> and<00:33:11.619> responsibility?

00:33:12.904 --> 00:33:14.092
Where'd<00:33:13.161> the<00:33:13.241> market<00:33:13.642> come<00:33:13.883> from?

00:33:14.204 --> 00:33:14.975
Where<00:33:14.349> is<00:33:14.461> it<00:33:14.606> going?

00:33:15.714 --> 00:33:17.014
Who<00:33:15.971> is<00:33:16.211> the<00:33:16.292> customer?

00:33:17.640 --> 00:33:22.152
And<00:33:18.379> what<00:33:18.524> has<00:33:18.700> made<00:33:18.877> us<00:33:19.021> successful,<00:33:19.664> and<00:33:19.808> can<00:33:19.985> we<00:33:20.145> keep<00:33:20.450> it<00:33:21.173> that,<00:33:21.574> that<00:33:21.976> route?

00:33:23.100 --> 00:33:33.118
And,<00:33:23.357> you<00:33:23.437> know,<00:33:23.597> instead<00:33:24.063> of<00:33:24.481> maybe<00:33:25.123> going<00:33:25.380> the<00:33:25.508> way<00:33:25.685> of<00:33:25.829> the<00:33:25.926> Gap,<00:33:26.488> which<00:33:26.729> it<00:33:28.398> you<00:33:28.479> know,<00:33:28.639> has<00:33:28.816> been<00:33:29.121> led<00:33:29.458> by,<00:33:30.084> as<00:33:30.261> a<00:33:30.325> chairman<00:33:30.726> of<00:33:30.758> the<00:33:30.903> board,<00:33:31.208> Glenn<00:33:31.449> Murphy,<00:33:31.946> in<00:33:32.091> that<00:33:32.733> realm.

00:33:33.777 --> 00:33:40.584
And<00:33:33.953> I<00:33:34.034> feel<00:33:34.676> it's<00:33:35.960> now<00:33:36.217> merchant-led<00:33:37.068> as<00:33:37.180> opposed<00:33:37.550> to<00:33:37.646> design-led<00:33:38.433> and<00:33:38.545> is<00:33:38.690> heading<00:33:39.011> down<00:33:39.252> the<00:33:39.348> same<00:33:39.733> route<00:33:39.958> as<00:33:40.118> The<00:33:40.215> Gap.

00:33:40.632 --> 00:33:53.749
And<00:33:41.580> my<00:33:41.820> goal<00:33:42.125> then<00:33:42.366> with<00:33:42.463> the<00:33:42.623> book<00:33:42.928> within<00:33:43.265> was<00:33:43.506> to,<00:33:44.309> you<00:33:44.405> know,<00:33:44.871> open<00:33:45.192> the<00:33:45.336> eyes<00:33:45.770> of<00:33:46.059> the<00:33:46.155> directors<00:33:46.878> to,<00:33:47.745> you<00:33:47.825> know,<00:33:47.937> see<00:33:48.307> like,<00:33:48.499> is<00:33:48.644> this<00:33:48.949> actually<00:33:49.270> happening<00:33:49.768> and<00:33:49.912> how<00:33:50.008> do<00:33:50.169> we<00:33:50.265> need<00:33:50.474> to<00:33:50.570> change<00:33:50.956> so<00:33:51.213> that<00:33:51.325> Lululemon<00:33:52.336> can<00:33:52.497> continue<00:33:52.979> to<00:33:53.059> be<00:33:53.203> a<00:33:53.300> great<00:33:53.524> company?

00:33:55.135 --> 00:34:00.398
I'm<00:33:55.282> sure<00:33:55.348> you've<00:33:55.511> talked<00:33:55.756> about<00:33:55.953> this<00:33:56.181> at<00:33:56.328> length<00:33:56.606> in<00:33:56.737> other<00:33:56.917> places<00:33:57.309> too,<00:33:57.472> but<00:33:57.554> just<00:33:57.799> for<00:33:57.897> our,<00:33:58.126> for<00:33:58.290> our<00:33:58.453> viewers,<00:33:58.862> what<00:33:59.107> led<00:33:59.286> you<00:33:59.368> to<00:33:59.466> leave<00:33:59.924> Lululemon?

00:34:04.339 --> 00:34:06.579
Well,<00:34:04.613> it<00:34:04.742> was<00:34:04.903> a<00:34:04.999> confluence<00:34:05.805> of<00:34:06.031> things.

00:34:07.336 --> 00:34:15.625
One<00:34:07.820> was<00:34:09.335> in,<00:34:09.432> in<00:34:09.899> 2012,<00:34:12.397> I<00:34:12.478> was<00:34:12.655> very<00:34:13.139> unhappy<00:34:13.607> with<00:34:13.786> the<00:34:13.868> way<00:34:14.177> that<00:34:14.356> the<00:34:14.502> business<00:34:14.844> was<00:34:15.088> being<00:34:15.397> run.

00:34:16.374 --> 00:34:19.254
The<00:34:16.536> board<00:34:16.715> of<00:34:16.813> directors<00:34:17.366> was<00:34:17.692> very<00:34:18.164> happy<00:34:18.587> with<00:34:18.896> the<00:34:18.978> CEO.

00:34:19.976 --> 00:34:22.289
And<00:34:20.939> the<00:34:20.972> stock<00:34:21.518> kept<00:34:21.759> climbing.

00:34:22.948 --> 00:34:29.679
But<00:34:23.108> the<00:34:23.221> stock<00:34:23.671> kept<00:34:23.992> climbing<00:34:24.570> because<00:34:25.036> the<00:34:25.117> CEO<00:34:25.534> was<00:34:25.775> putting<00:34:26.097> less<00:34:26.402> money<00:34:26.659> into<00:34:26.900> quality<00:34:27.382> control<00:34:28.506> and<00:34:28.667> raising<00:34:29.133> the<00:34:29.229> prices.

00:34:30.740 --> 00:34:33.374
And<00:34:30.852> so,<00:34:31.736> a<00:34:31.800> disaster<00:34:32.443> was<00:34:32.667> going<00:34:32.844> to<00:34:32.989> happen.

00:34:33.567 --> 00:34:37.150
So,<00:34:34.611> my<00:34:34.772> wife<00:34:35.013> and<00:34:35.093> I<00:34:35.190> moved<00:34:35.479> to<00:34:35.559> Australia<00:34:36.379> with<00:34:36.523> our<00:34:36.684> family.

00:34:38.210 --> 00:34:46.548
And<00:34:38.628> we<00:34:38.772> hadn't<00:34:39.013> been<00:34:39.174> there<00:34:39.286> 9,<00:34:39.656> 10<00:34:39.913> months<00:34:40.234> and<00:34:40.861> sure<00:34:41.102> enough,<00:34:41.230> Lululemon<00:34:41.825> had<00:34:42.018> a<00:34:42.082> massive<00:34:43.688> quality<00:34:44.090> control<00:34:44.572> issue<00:34:44.877> with<00:34:45.038> transparency<00:34:45.922> in<00:34:46.002> the<00:34:46.098> pants.

00:34:47.641 --> 00:34:49.696
So,<00:34:48.572> we<00:34:48.749> came<00:34:49.215> back.

00:34:49.873 --> 00:34:51.366
We<00:34:50.499> fixed<00:34:50.917> that.

00:34:52.426 --> 00:34:56.135
And<00:34:52.587> inside<00:34:52.940> a<00:34:53.004> board<00:34:53.325> meeting,<00:34:53.646> you<00:34:53.727> know,<00:34:53.887> they<00:34:54.112> asked<00:34:54.433> me,<00:34:54.674> you<00:34:54.706> know,<00:34:55.332> what<00:34:55.557> needed<00:34:55.814> to<00:34:55.894> be<00:34:56.055> done.

00:34:56.199 --> 00:34:58.784
And<00:34:56.376> I<00:34:56.456> said,<00:34:56.697> well,<00:34:57.002> you<00:34:57.179> really<00:34:57.420> need<00:34:57.580> to<00:34:57.660> get<00:34:57.821> rid<00:34:57.982> of<00:34:58.062> the<00:34:58.142> CEO.

00:34:59.089 --> 00:35:01.530
And<00:34:59.330> then<00:35:00.085> again,<00:35:00.551> we<00:35:00.711> just<00:35:01.016> clashed.

00:35:01.594 --> 00:35:15.845
And<00:35:01.675> I<00:35:01.835> think<00:35:02.060> the<00:35:02.156> CEO<00:35:02.558> at<00:35:02.638> the<00:35:02.799> time<00:35:03.666> had<00:35:05.030> her<00:35:05.271> tentacles<00:35:05.849> deep<00:35:06.106> in<00:35:06.251> Machiavellian<00:35:07.054> principles<00:35:07.696> and<00:35:08.820> knew<00:35:09.125> how<00:35:09.446> to<00:35:13.618> had<00:35:13.778> a<00:35:13.874> different<00:35:14.179> agenda<00:35:14.579> in<00:35:14.659> the<00:35:14.755> background<00:35:15.236> with<00:35:15.396> the<00:35:15.476> directors.

00:35:15.893 --> 00:35:22.142
Somehow,<00:35:16.598> even<00:35:16.822> though<00:35:16.999> the<00:35:17.720> quality<00:35:18.120> control<00:35:18.457> disaster<00:35:18.938> had<00:35:19.146> happened,<00:35:19.803> the<00:35:19.867> stock,<00:35:20.364> you<00:35:20.460> know,<00:35:20.700> still<00:35:21.165> continued<00:35:21.678> to<00:35:21.790> do<00:35:22.030> well.

00:35:22.287 --> 00:35:29.866
And<00:35:22.383> I<00:35:22.447> think<00:35:22.671> they<00:35:22.831> were<00:35:23.472> unwilling<00:35:23.889> to<00:35:24.033> admit<00:35:24.354> they<00:35:24.450> didn't<00:35:24.754> have<00:35:24.947> a<00:35:25.011> successor<00:35:26.196> for<00:35:26.373> the<00:35:26.453> CEO,<00:35:27.094> and<00:35:27.238> they<00:35:27.334> didn't<00:35:27.575> know<00:35:27.735> what<00:35:27.895> to<00:35:28.055> do,<00:35:28.616> and<00:35:28.696> they<00:35:28.776> didn't<00:35:29.017> want<00:35:29.161> to<00:35:29.257> put<00:35:29.497> me<00:35:29.738> in.

00:35:30.603 --> 00:35:46.158
So,<00:35:32.205> and<00:35:32.286> then<00:35:32.446> about,<00:35:34.048> you<00:35:34.080> know,<00:35:34.545> maybe<00:35:34.801> about<00:35:35.747> 8<00:35:35.907> months<00:35:36.211> later,<00:35:36.965> I<00:35:37.429> was<00:35:37.830> doing<00:35:38.230> a<00:35:40.258> an<00:35:40.403> interview<00:35:40.823> on<00:35:40.984> Bloomberg,<00:35:41.774> and<00:35:42.515> I<00:35:42.660> had<00:35:42.918> a<00:35:43.660> misstep,<00:35:44.369> I<00:35:44.449> guess,<00:35:44.756> in<00:35:44.788> the<00:35:44.917> way<00:35:45.094> that<00:35:45.255> I<00:35:45.417> said<00:35:45.820> things.

00:35:46.223 --> 00:35:48.689
And<00:35:46.287> I<00:35:46.690> was<00:35:46.932> probably<00:35:47.174> one<00:35:47.286> of<00:35:47.367> the<00:35:47.496> first<00:35:47.818> people<00:35:48.076> to<00:35:48.157> get<00:35:48.399> canceled.

00:35:51.260 --> 00:35:56.549
And<00:35:51.405> that<00:35:51.582> kind<00:35:51.760> of<00:35:51.889> gave<00:35:52.066> the<00:35:52.163> CEO<00:35:52.631> the<00:35:52.792> ability<00:35:53.356> to,<00:35:53.985> again,<00:35:54.566> further<00:35:54.969> push<00:35:55.275> me<00:35:55.436> off<00:35:55.630> of<00:35:55.775> being<00:35:56.017> chairman.

00:35:58.858 --> 00:36:04.310
And<00:36:00.010> then<00:36:01.308> we<00:36:01.535> were<00:36:01.697> disenfranchised<00:36:02.752> with<00:36:02.914> the<00:36:03.093> board<00:36:03.498> and<00:36:03.644> the<00:36:03.742> CEO.

00:36:05.608 --> 00:36:08.886
My<00:36:05.849> wife<00:36:06.122> and<00:36:06.251> son<00:36:06.813> went<00:36:07.552> and<00:36:07.713> started<00:36:08.131> a<00:36:08.195> new<00:36:08.500> company.

00:36:09.866 --> 00:36:16.173
And<00:36:10.123> the<00:36:10.283> board<00:36:10.524> thought<00:36:10.846> it<00:36:10.990> was<00:36:11.472> a<00:36:11.794> conflict<00:36:12.308> of<00:36:12.517> interest<00:36:13.159> and<00:36:14.461> that<00:36:14.702> my<00:36:14.864> wife<00:36:15.122> and<00:36:15.252> son<00:36:15.575> were<00:36:15.672> doing<00:36:15.995> it.

00:36:16.238 --> 00:36:21.461
And<00:36:16.383> then,<00:36:16.545> so<00:36:16.739> they<00:36:16.885> set<00:36:17.208> up<00:36:17.386> a<00:36:17.677> different<00:36:19.860> committee<00:36:20.426> within<00:36:20.911> the<00:36:21.089> board.

00:36:21.736 --> 00:36:32.135
So<00:36:22.043> I<00:36:22.204> was<00:36:22.447> part<00:36:22.706> of<00:36:22.787> the<00:36:22.948> board,<00:36:23.272> but<00:36:23.498> 2<00:36:23.611> minutes<00:36:24.064> after<00:36:24.226> the<00:36:24.788> board<00:36:25.046> meeting,<00:36:26.155> they<00:36:26.814> created<00:36:27.361> another<00:36:29.627> distinct<00:36:30.094> committee<00:36:30.576> that<00:36:30.817> actually<00:36:31.155> then<00:36:31.396> ran<00:36:31.637> the<00:36:31.717> company.

00:36:32.200 --> 00:36:39.004
So<00:36:33.033> Then<00:36:33.259> I<00:36:33.421> was<00:36:33.599> excluded,<00:36:34.570> and<00:36:34.651> then<00:36:34.829> I<00:36:34.975> just<00:36:35.201> went,<00:36:35.444> well,<00:36:35.622> this,<00:36:36.334> uh,<00:36:36.738> you<00:36:36.771> know,<00:36:36.900> I<00:36:36.997> need<00:36:37.224> to<00:36:37.321> kind<00:36:37.548> of<00:36:37.580> move<00:36:37.871> on<00:36:38.033> with<00:36:38.211> my<00:36:38.357> life,<00:36:38.616> and<00:36:38.696> I<00:36:38.842> left.

00:36:40.635 --> 00:36:42.282
How<00:36:41.200> did<00:36:41.362> you<00:36:41.507> take<00:36:41.830> all<00:36:42.008> of<00:36:42.153> that?

00:36:42.411 --> 00:36:49.352
I<00:36:42.427> mean,<00:36:42.653> that<00:36:42.799> seems<00:36:43.138> like,<00:36:43.687> just<00:36:43.848> from<00:36:44.009> a<00:36:44.042> mental<00:36:44.413> health<00:36:44.671> perspective,<00:36:46.108> um,<00:36:46.350> that,<00:36:46.593> that<00:36:46.835> must<00:36:47.028> have<00:36:47.335> kind<00:36:47.497> of<00:36:47.642> rocked<00:36:47.965> your<00:36:48.062> world,<00:36:48.368> that,<00:36:48.546> to<00:36:48.627> go<00:36:48.804> through<00:36:49.030> all<00:36:49.159> that.

00:36:50.479 --> 00:36:51.623
Yeah,<00:36:50.560> I<00:36:50.721> made<00:36:50.962> my<00:36:51.123> mistakes.

00:36:51.687 --> 00:36:55.086
I<00:36:51.768> mean,<00:36:51.993> I<00:36:52.170> was,<00:36:52.557> I<00:36:52.654> was<00:36:52.879> the<00:36:52.960> one<00:36:53.137> responsible<00:36:53.781> to<00:36:53.926> get<00:36:54.103> myself<00:36:54.602> into<00:36:54.892> that.

00:36:55.150 --> 00:37:01.355
I<00:36:55.295> lost<00:36:55.537> control<00:36:55.955> of<00:36:56.100> the<00:36:56.261> board,<00:36:57.308> um,<00:36:58.452> and<00:36:58.731> so<00:36:59.446> You<00:36:59.606> know,<00:37:00.424> I'm<00:37:00.649> responsible.

00:37:01.548 --> 00:37:01.997
I<00:37:01.708> get<00:37:01.949> it.

00:37:02.735 --> 00:37:07.339
And<00:37:03.056> but,<00:37:03.232> you<00:37:03.312> know,<00:37:03.457> at<00:37:03.553> the<00:37:03.713> end<00:37:03.858> of<00:37:03.954> the<00:37:04.066> day,<00:37:04.516> I<00:37:04.612> sat<00:37:05.061> there<00:37:05.157> and<00:37:05.254> I<00:37:05.398> went,<00:37:05.623> you<00:37:05.703> know,<00:37:05.863> I've<00:37:06.425> got<00:37:06.585> a<00:37:06.665> great<00:37:06.938> family.

00:37:07.387 --> 00:37:08.976
I'd<00:37:07.484> like<00:37:07.644> to<00:37:07.724> spend<00:37:08.029> a<00:37:08.109> lot<00:37:08.270> of<00:37:08.302> time<00:37:08.671> with<00:37:08.831> them.

00:37:09.634 --> 00:37:20.928
And<00:37:09.810> do<00:37:09.954> I<00:37:10.195> really<00:37:10.372> want<00:37:10.516> to<00:37:10.596> spend<00:37:10.853> my<00:37:11.094> time<00:37:11.479> with<00:37:11.655> the<00:37:11.816> board<00:37:12.040> of<00:37:12.136> directors<00:37:12.762> who<00:37:13.564> I<00:37:13.580> don't<00:37:13.901> think<00:37:14.158> is,<00:37:15.089> you<00:37:15.185> know,<00:37:15.345> the<00:37:15.506> right<00:37:15.746> people<00:37:16.147> for<00:37:16.372> Lululemon,<00:37:17.094> who<00:37:17.174> would,<00:37:17.752> you<00:37:17.848> know,<00:37:18.073> it'd<00:37:18.297> be<00:37:18.458> a<00:37:18.538> life<00:37:18.811> of<00:37:18.891> frustration<00:37:19.757> and<00:37:19.902> conversation.

00:37:21.586 --> 00:37:28.116
And<00:37:21.923> I<00:37:22.469> think<00:37:22.645> it<00:37:22.725> was,<00:37:23.126> you<00:37:23.207> know,<00:37:23.913> 9<00:37:24.169> against<00:37:24.731> 1,<00:37:25.196> and<00:37:25.597> I<00:37:25.758> wasn't<00:37:26.014> going<00:37:26.175> to<00:37:26.319> win,<00:37:26.656> and<00:37:26.752> it<00:37:26.881> wasn't<00:37:27.121> a<00:37:27.202> life<00:37:27.458> I<00:37:27.603> wanted<00:37:27.779> to<00:37:27.875> live.

00:37:28.196 --> 00:37:33.784
So<00:37:30.278> So,<00:37:30.747> I<00:37:30.827> mean,<00:37:31.393> from<00:37:31.554> that<00:37:31.797> point<00:37:31.974> of<00:37:32.039> view,<00:37:32.443> it's<00:37:32.750> all<00:37:32.992> turned<00:37:33.235> out<00:37:33.315> perfectly.

00:37:34.947 --> 00:37:36.208
What<00:37:35.174> led<00:37:35.351> you<00:37:35.432> to<00:37:35.529> Vancouver?

00:37:36.385 --> 00:37:38.098
I'm<00:37:36.708> fascinated<00:37:37.145> by<00:37:37.290> that.

00:37:39.570 --> 00:37:44.316
Well,<00:37:39.666> I<00:37:39.683> guess<00:37:39.989> I—<00:37:40.231> my<00:37:40.409> dad<00:37:40.651> was<00:37:40.813> from<00:37:40.974> Calgary,<00:37:41.539> went<00:37:41.701> down<00:37:41.878> to<00:37:42.023> BYU<00:37:42.588> and<00:37:42.669> went<00:37:42.847> to<00:37:42.976> school,<00:37:43.396> married<00:37:43.702> my<00:37:43.799> mom.

00:37:44.671 --> 00:37:49.983
You<00:37:44.703> know,<00:37:44.913> we<00:37:44.994> were<00:37:45.252> in<00:37:45.430> San<00:37:45.737> Diego<00:37:46.140> and<00:37:46.237> L.A.,<00:37:46.705> moved<00:37:47.351> back<00:37:47.593> to<00:37:47.674> Canada<00:37:48.158> when<00:37:48.320> I<00:37:48.384> was<00:37:48.562> 5,<00:37:49.353> to<00:37:49.450> Calgary.

00:37:50.725 --> 00:38:04.182
And<00:37:51.533> I<00:37:51.613> formed<00:37:51.952> a—<00:37:52.743> after<00:37:52.986> I<00:37:53.002> had<00:37:53.147> started<00:37:53.551> West<00:37:53.809> Beach,<00:37:54.051> my<00:37:54.213> surfskate<00:37:54.762> snowboard<00:37:55.181> company,<00:37:55.585> I<00:37:55.666> formed<00:37:55.989> a<00:37:56.069> partnership<00:37:56.635> with<00:37:56.780> two<00:37:56.957> other<00:37:57.702> guys,<00:37:58.504> and<00:37:59.146> they<00:37:59.370> were<00:37:59.450> in<00:37:59.547> the<00:37:59.627> sailing<00:38:00.108> business,<00:38:00.525> and<00:38:00.669> I—<00:38:01.070> and<00:38:01.231> they<00:38:01.391> were—<00:38:01.552> wanted<00:38:01.792> to<00:38:01.872> sell<00:38:02.129> my<00:38:02.337> West<00:38:02.594> Beach<00:38:02.754> Clothing<00:38:03.139> through<00:38:03.300> their<00:38:03.412> sail<00:38:03.797> business.

00:38:04.278 --> 00:38:13.789
And<00:38:05.080> it<00:38:05.225> ended<00:38:05.465> up<00:38:05.561> being—<00:38:05.866> we<00:38:05.962> ended<00:38:06.203> up<00:38:06.363> partnering<00:38:06.909> up<00:38:07.085> because<00:38:07.470> they<00:38:07.582> knew<00:38:08.224> sales<00:38:08.849> and<00:38:08.914> they<00:38:09.010> knew<00:38:10.036> banking<00:38:10.533> and<00:38:10.614> they<00:38:10.694> knew<00:38:11.111> accounts<00:38:11.576> receivable<00:38:12.202> and<00:38:12.298> payable,<00:38:12.859> which<00:38:13.100> I<00:38:13.180> knew<00:38:13.356> nothing.

00:38:13.902 --> 00:38:30.783
It<00:38:13.982> seemed<00:38:14.222> to<00:38:14.367> be<00:38:14.527> a<00:38:14.623> great<00:38:15.810> way<00:38:15.987> to<00:38:16.227> learn<00:38:16.692> all<00:38:16.725> that<00:38:17.013> type<00:38:17.206> of<00:38:17.334> business<00:38:17.815> and<00:38:18.393> to<00:38:18.473> especially<00:38:19.259> expand<00:38:19.980> at<00:38:20.077> a<00:38:20.157> time<00:38:20.558> when,<00:38:21.440> you<00:38:21.520> know,<00:38:21.616> instead<00:38:21.937> of<00:38:22.146> like<00:38:22.803> being<00:38:23.044> 7<00:38:23.461> years<00:38:23.830> ahead<00:38:24.086> in<00:38:24.167> the<00:38:24.263> surfing<00:38:24.728> business,<00:38:25.129> now<00:38:25.434> every<00:38:26.367> company<00:38:26.947> and<00:38:27.269> every<00:38:27.898> athletic<00:38:28.494> store<00:38:28.881> in<00:38:28.962> the<00:38:29.107> world<00:38:29.429> was<00:38:29.526> going<00:38:29.639> to<00:38:29.768> carry<00:38:30.026> surf<00:38:30.412> clothing.

00:38:30.896 --> 00:38:36.425
So<00:38:31.782> I<00:38:31.944> did<00:38:32.185> that,<00:38:32.653> and<00:38:32.911> part<00:38:33.168> of<00:38:33.233> that<00:38:33.539> then<00:38:33.781> was<00:38:33.942> moving<00:38:34.264> to<00:38:34.361> Vancouver<00:38:35.086> where<00:38:35.248> the<00:38:35.344> sailing<00:38:35.780> business<00:38:36.199> was.

00:38:36.602 --> 00:38:42.006
And<00:38:37.505> if<00:38:37.570> you've<00:38:37.764> ever<00:38:37.989> been<00:38:38.231> here,<00:38:38.715> it's<00:38:39.022> very<00:38:39.280> tough<00:38:39.683> to<00:38:39.828> move<00:38:40.070> anywhere<00:38:40.393> else<00:38:40.651> but<00:38:40.812> maybe<00:38:41.070> Sydney,<00:38:41.457> Australia.

00:38:44.350 --> 00:38:45.107
Uh,<00:38:44.608> that's<00:38:44.849> incredible.

00:38:45.188 --> 00:38:46.461
Your<00:38:45.397> dad<00:38:45.655> went<00:38:45.817> to<00:38:45.897> BYU,<00:38:46.381> huh?

00:38:46.606 --> 00:38:51.909
Like,<00:38:46.848> we're,<00:38:47.251> uh,<00:38:47.493> we're—<00:38:47.606> I'm<00:38:47.976> 10<00:38:48.154> minutes<00:38:48.396> away<00:38:48.557> from<00:38:48.718> BYU<00:38:49.105> campus<00:38:49.588> right<00:38:49.766> now,<00:38:50.314> so<00:38:50.636> there's<00:38:51.361> an<00:38:51.442> interesting<00:38:51.684> connection.

00:38:52.006 --> 00:38:53.183
Did<00:38:52.119> you<00:38:52.248> guys<00:38:52.490> ever<00:38:52.667> live<00:38:52.893> in<00:38:52.989> Utah?

00:38:54.745 --> 00:39:06.773
Well,<00:38:55.450> um,<00:38:55.867> maybe<00:38:56.814> I<00:38:57.054> was—<00:38:57.455> my,<00:38:58.048> my<00:38:58.337> joke<00:38:58.674> is<00:38:58.834> my,<00:38:59.620> my<00:38:59.780> dad<00:39:00.037> was—<00:39:00.278> went<00:39:00.438> there<00:39:00.582> to<00:39:00.679> play<00:39:00.839> football,<00:39:01.304> and<00:39:01.400> my<00:39:01.561> mom<00:39:01.801> went<00:39:02.026> there<00:39:02.603> because<00:39:02.988> of<00:39:03.068> communist<00:39:03.646> infiltration<00:39:04.367> to<00:39:04.447> California<00:39:05.073> universities,<00:39:05.746> according<00:39:06.083> to<00:39:06.211> my<00:39:06.372> grandpa.

00:39:07.559 --> 00:39:17.871
And,<00:39:08.136> uh,<00:39:08.473> so,<00:39:09.002> you<00:39:09.082> know,<00:39:09.130> I<00:39:09.162> was<00:39:09.339> born<00:39:09.579> April<00:39:09.820> 25th,<00:39:10.445> so<00:39:10.782> I,<00:39:11.023> you<00:39:11.103> know,<00:39:11.215> they<00:39:11.263> didn't<00:39:11.584> know<00:39:11.744> each<00:39:11.905> other<00:39:12.129> very<00:39:12.386> long<00:39:12.691> before<00:39:12.947> my<00:39:13.124> mom<00:39:13.348> was<00:39:13.589> pregnant,<00:39:14.070> and<00:39:14.294> then<00:39:14.952> shotgun<00:39:15.497> marriage<00:39:15.754> in<00:39:15.898> San<00:39:16.155> Diego<00:39:16.556> and<00:39:16.716> never<00:39:16.957> went<00:39:17.181> back<00:39:17.422> to<00:39:17.518> Utah.

00:39:19.138 --> 00:39:19.987
That's<00:39:19.682> awesome.

00:39:20.403 --> 00:39:21.188
That's<00:39:20.660> incredible.

00:39:21.669 --> 00:39:25.082
Uh,<00:39:21.909> well,<00:39:22.310> uh,<00:39:22.726> by<00:39:22.887> the<00:39:22.951> way,<00:39:23.271> I<00:39:23.688> can't<00:39:23.912> thank<00:39:24.072> you<00:39:24.168> enough<00:39:24.329> for<00:39:24.489> coming<00:39:24.809> on<00:39:24.970> here.

00:39:25.194 --> 00:39:30.225
I<00:39:25.290> like<00:39:25.466> to<00:39:25.675> end<00:39:25.995> every<00:39:26.492> interview<00:39:26.892> with<00:39:27.052> the<00:39:27.133> same<00:39:27.453> question,<00:39:28.110> and<00:39:28.334> I'm<00:39:28.735> super<00:39:29.039> excited<00:39:29.296> to<00:39:29.440> hear<00:39:29.680> yours.

00:39:30.721 --> 00:39:37.066
At<00:39:30.802> CEO.com,<00:39:31.683> we,<00:39:31.859> we<00:39:32.003> talk<00:39:32.244> a<00:39:32.260> lot<00:39:32.420> about<00:39:32.804> chances<00:39:33.365> that<00:39:33.461> are<00:39:33.621> given<00:39:34.647> are<00:39:34.807> just<00:39:35.047> as<00:39:35.144> important<00:39:35.528> and<00:39:35.704> equal<00:39:35.945> to<00:39:36.105> chances<00:39:36.569> that<00:39:36.666> we<00:39:36.826> take.

00:39:37.643 --> 00:39:40.847
So<00:39:37.787> chances<00:39:38.188> we<00:39:38.332> take<00:39:38.572> on<00:39:38.652> ourselves,<00:39:39.614> um,<00:39:40.255> are<00:39:40.351> incredible.

00:39:40.911 --> 00:39:45.782
And<00:39:41.008> that's<00:39:41.312> the<00:39:41.456> whole,<00:39:41.857> um,<00:39:42.273> like<00:39:42.818> you<00:39:42.850> mentioned,<00:39:43.379> Atlas<00:39:43.715> Drug,<00:39:44.116> Nine<00:39:44.340> Rand,<00:39:44.516> that's<00:39:44.837> the<00:39:44.981> whole<00:39:45.157> thing,<00:39:45.478> right?

00:39:45.878 --> 00:39:49.693
Like<00:39:46.279> being<00:39:46.519> able<00:39:46.631> to<00:39:46.743> take<00:39:46.920> a<00:39:46.984> chance<00:39:47.320> on<00:39:47.400> yourself<00:39:48.041> and<00:39:48.827> putting<00:39:49.068> yourself<00:39:49.469> out<00:39:49.645> there.

00:39:49.741 --> 00:39:51.779
That's<00:39:49.950> what<00:39:50.030> entrepreneurship<00:39:50.752> is<00:39:51.009> and<00:39:51.089> leadership<00:39:51.586> is.

00:39:52.292 --> 00:39:58.436
But<00:39:52.372> there's<00:39:52.597> this<00:39:52.757> whole<00:39:53.880> other<00:39:54.233> side<00:39:54.618> of<00:39:54.698> that,<00:39:55.003> which<00:39:55.260> is<00:39:55.901> chances<00:39:56.383> we<00:39:56.623> give<00:39:57.040> or<00:39:57.185> chances<00:39:57.586> that<00:39:57.730> were<00:39:57.891> given<00:39:58.147> to<00:39:58.308> us.

00:39:58.949 --> 00:40:08.270
And<00:39:59.030> I<00:39:59.110> just<00:39:59.270> wonder<00:39:59.431> if<00:39:59.575> there's<00:39:59.752> anyone<00:40:00.072> in<00:40:00.137> your<00:40:00.377> life<00:40:00.698> who<00:40:00.874> gave<00:40:01.259> you<00:40:01.372> a<00:40:01.516> chance<00:40:03.602> that<00:40:04.869> made<00:40:05.126> an<00:40:05.222> impact<00:40:05.751> on<00:40:06.008> where<00:40:06.249> you<00:40:06.473> are<00:40:06.650> today<00:40:07.612> and<00:40:07.676> who<00:40:07.853> you<00:40:08.013> are<00:40:08.109> today.

00:40:09.617 --> 00:40:26.206
Well,<00:40:10.002> it's<00:40:10.259> two<00:40:10.580> people<00:40:10.965> kind<00:40:11.157> of<00:40:11.302> in<00:40:11.446> the<00:40:11.526> same<00:40:11.863> story,<00:40:12.970> and<00:40:13.692> one<00:40:13.852> of<00:40:13.949> them<00:40:14.414> was<00:40:14.735> a<00:40:15.939> I<00:40:16.020> was<00:40:16.196> maybe<00:40:16.437> 17<00:40:16.984> years<00:40:17.241> old,<00:40:17.546> after<00:40:17.819> my—<00:40:18.365> halfway<00:40:18.767> through<00:40:18.928> my<00:40:19.088> second<00:40:19.474> year<00:40:19.651> university,<00:40:20.454> and<00:40:20.615> I<00:40:20.711> met<00:40:20.920> a<00:40:21.016> woman<00:40:21.338> in<00:40:21.482> the<00:40:21.579> airport<00:40:22.125> who<00:40:22.205> was<00:40:22.382> a<00:40:22.607> friend<00:40:22.944> of<00:40:23.089> a<00:40:23.169> friend,<00:40:23.571> so<00:40:23.732> to<00:40:23.812> speak,<00:40:24.230> and<00:40:24.856> talked<00:40:25.113> to<00:40:25.258> her<00:40:25.419> for<00:40:25.579> about<00:40:25.820> an<00:40:25.981> hour.

00:40:26.318 --> 00:40:36.778
And<00:40:26.961> she<00:40:27.106> said<00:40:27.363> she<00:40:27.443> was<00:40:27.604> going<00:40:27.909> to<00:40:28.070> Alaska<00:40:28.520> because<00:40:28.728> her<00:40:28.873> husband<00:40:29.194> was<00:40:29.371> running<00:40:29.596> one<00:40:29.709> of<00:40:29.837> the<00:40:29.933> 5<00:40:30.174> sections<00:40:30.721> on<00:40:30.881> the<00:40:30.978> Alaska<00:40:31.444> Oil<00:40:31.765> Pipeline,<00:40:32.809> which<00:40:32.970> was<00:40:33.131> one<00:40:33.227> of<00:40:33.308> them,<00:40:33.773> I<00:40:33.934> think,<00:40:34.095> the<00:40:34.175> largest<00:40:34.577> free<00:40:34.673> enterprise<00:40:35.300> project<00:40:35.718> in<00:40:35.798> the<00:40:35.942> world<00:40:36.216> at<00:40:36.360> the<00:40:36.441> time.

00:40:37.324 --> 00:40:38.529
And<00:40:37.389> she<00:40:37.630> offered<00:40:37.951> me<00:40:38.063> a<00:40:38.192> job.

00:40:38.706 --> 00:40:47.126
So<00:40:38.931> she—<00:40:39.638> I<00:40:39.654> don't<00:40:39.815> know<00:40:39.911> if<00:40:39.975> she<00:40:40.136> saw<00:40:40.602> anything<00:40:41.084> in<00:40:41.245> me<00:40:41.742> But<00:40:42.062> that,<00:40:42.543> that<00:40:42.864> was—<00:40:43.409> that<00:40:43.745> changed<00:40:44.130> the<00:40:44.290> trajectory<00:40:44.883> of<00:40:45.011> my<00:40:45.251> life<00:40:45.572> because<00:40:45.828> I<00:40:45.924> made<00:40:46.149> so<00:40:46.325> much<00:40:46.630> money<00:40:47.014> there.

00:40:47.992 --> 00:41:00.187
But<00:40:48.617> the<00:40:48.873> second<00:40:49.354> part<00:40:49.690> of<00:40:49.819> that<00:40:50.139> is<00:40:50.315> I<00:40:50.476> was,<00:40:51.501> um,<00:40:51.838> had<00:40:51.998> been<00:40:52.222> there<00:40:52.383> for<00:40:52.543> about<00:40:52.799> a<00:40:52.959> year,<00:40:53.825> and<00:40:54.706> I<00:40:54.882> was<00:40:55.187> a<00:40:55.267> hard<00:40:55.828> worker,<00:40:56.469> and<00:40:56.709> I,<00:40:57.687> and<00:40:57.783> I<00:40:57.927> would<00:40:58.168> do<00:40:58.408> anything<00:40:58.953> for<00:40:59.113> anyone<00:40:59.610> anytime.

00:41:00.267 --> 00:41:06.789
And<00:41:00.411> it<00:41:00.475> was<00:41:00.652> kind<00:41:00.876> of<00:41:00.956> like<00:41:01.469> it<00:41:01.533> was<00:41:01.757> a<00:41:01.917> union<00:41:02.334> mentality,<00:41:03.520> and,<00:41:04.321> um,<00:41:04.738> you<00:41:04.834> know,<00:41:04.978> that<00:41:05.299> wasn't<00:41:05.683> very<00:41:06.004> well<00:41:06.244> received.

00:41:07.606 --> 00:41:13.199
And<00:41:07.767> so<00:41:08.664> there<00:41:08.904> was<00:41:10.010> a<00:41:10.170> job<00:41:10.443> that<00:41:10.587> I<00:41:10.731> had<00:41:10.988> that<00:41:11.452> I<00:41:11.532> was<00:41:11.693> a<00:41:11.789> laborer<00:41:12.253> in<00:41:12.350> the<00:41:12.494> labor<00:41:12.894> union.

00:41:13.311 --> 00:41:22.221
The<00:41:13.471> Teamsters<00:41:13.968> wanted<00:41:14.273> the<00:41:14.417> job<00:41:15.058> and<00:41:15.234> they<00:41:16.115> kind<00:41:16.276> of<00:41:16.372> arranged<00:41:16.917> to<00:41:17.157> have<00:41:17.413> me<00:41:17.574> moved<00:41:18.022> out<00:41:18.182> of<00:41:18.279> my<00:41:18.519> job<00:41:19.224> and,<00:41:21.067> you<00:41:21.147> know,<00:41:21.243> so<00:41:21.403> they<00:41:21.628> could<00:41:21.788> take<00:41:22.108> it.

00:41:22.301 --> 00:41:26.820
So<00:41:22.445> I'm<00:41:22.749> out<00:41:22.846> of<00:41:22.942> a<00:41:23.070> job<00:41:23.406> and<00:41:23.455> I'm<00:41:23.583> sitting<00:41:23.871> there<00:41:23.983> in<00:41:24.112> the<00:41:24.144> middle<00:41:24.512> of<00:41:25.169> Alaska<00:41:25.954> and<00:41:26.131> nothing<00:41:26.451> to<00:41:26.611> do.

00:41:27.236 --> 00:41:33.245
And<00:41:28.534> but<00:41:28.759> this<00:41:28.935> other<00:41:29.175> gentleman<00:41:29.656> came<00:41:29.960> up<00:41:30.073> to<00:41:30.153> me,<00:41:30.377> said,<00:41:30.682> you<00:41:30.714> know,<00:41:30.842> I've<00:41:30.938> been<00:41:31.178> watching<00:41:31.659> you<00:41:31.899> over<00:41:32.012> the<00:41:32.140> last<00:41:32.524> 3<00:41:32.685> or<00:41:32.781> 4<00:41:33.021> months.

00:41:33.959 --> 00:41:35.520
And<00:41:34.120> I<00:41:34.152> understand<00:41:34.619> you're<00:41:34.763> out<00:41:34.876> of<00:41:34.957> a<00:41:35.085> job.

00:41:35.729 --> 00:41:38.964
You<00:41:35.761> know,<00:41:36.067> you're<00:41:36.228> a<00:41:36.292> hard<00:41:36.630> worker<00:41:37.097> and<00:41:37.757> I<00:41:37.853> need<00:41:38.079> someone<00:41:38.465> like<00:41:38.787> you.

00:41:39.672 --> 00:42:04.147
And<00:41:39.929> I<00:41:40.010> think<00:41:40.267> at<00:41:40.396> that<00:41:40.718> age,<00:41:41.040> so<00:41:41.120> I<00:41:41.201> must<00:41:41.394> have<00:41:41.522> been<00:41:41.764> 18,<00:41:42.410> maybe<00:41:42.764> early<00:41:42.925> 19,<00:41:44.296> you<00:41:44.376> know,<00:41:44.537> that<00:41:44.924> really<00:41:45.118> cemented<00:41:45.746> in<00:41:45.908> my<00:41:46.069> life<00:41:46.456> that<00:41:46.649> there's<00:41:47.020> a,<00:41:47.906> you<00:41:47.987> know,<00:41:48.567> like<00:41:48.874> there's<00:41:49.115> a<00:41:49.357> direct<00:41:49.841> correlation<00:41:50.502> between<00:41:53.018> hard<00:41:53.489> work,<00:41:53.895> integrity,<00:41:56.006> responsibility<00:41:57.061> for<00:41:57.223> the<00:41:57.386> job,<00:41:57.954> wanting,<00:41:58.360> you<00:41:58.392> know,<00:41:58.555> not<00:41:59.576> lowering<00:42:00.154> myself<00:42:00.795> to<00:42:00.956> the<00:42:01.180> union<00:42:01.581> mentality,<00:42:02.399> but<00:42:02.800> raising<00:42:03.185> myself<00:42:03.682> above<00:42:04.003> it.

00:42:04.709 --> 00:42:07.885
And<00:42:04.805> I<00:42:05.030> think<00:42:05.206> I<00:42:05.350> can't<00:42:05.607> say<00:42:05.912> enough<00:42:06.168> for<00:42:06.810> that<00:42:07.035> particular<00:42:07.596> moment.

00:42:09.296 --> 00:42:12.665
Chip,<00:42:09.761> I<00:42:09.858> can't<00:42:10.162> thank<00:42:10.339> you<00:42:10.403> enough<00:42:10.740> for<00:42:11.125> spending<00:42:11.542> the<00:42:11.622> time<00:42:11.863> that<00:42:11.927> you<00:42:12.039> spent<00:42:12.328> with<00:42:12.504> us.

00:42:13.066 --> 00:42:14.605
Highly<00:42:13.370> recommend<00:42:13.611> everybody<00:42:14.012> read<00:42:14.188> your<00:42:14.333> book.

00:42:14.654 --> 00:42:16.322
I<00:42:15.071> think<00:42:15.295> it's<00:42:15.375> super<00:42:15.712> fascinating.

00:42:16.418 --> 00:42:23.860
I'm<00:42:16.899> going<00:42:17.300> to<00:42:17.396> keep<00:42:17.621> following<00:42:17.958> you<00:42:18.038> and<00:42:18.182> all<00:42:18.455> of<00:42:18.599> these<00:42:19.786> various<00:42:20.123> ventures<00:42:20.588> you're<00:42:20.765> in,<00:42:21.069> and<00:42:21.326> I'm<00:42:21.583> excited<00:42:22.128> to<00:42:23.090> see<00:42:23.315> where<00:42:23.475> it<00:42:23.572> goes.

00:42:23.908 --> 00:42:25.063
Appreciate<00:42:25.031> it.

00:42:25.144 --> 00:42:25.946
Well,<00:42:25.208> thanks<00:42:25.336> a<00:42:25.400> lot,<00:42:25.657> Clint.

00:42:26.042 --> 00:42:27.437
Appreciate<00:42:26.459> it<00:42:26.603> very<00:42:26.715> much<00:42:27.004> for<00:42:27.084> your<00:42:27.245> time.

```