Clear

“So I did it again with Clear to get them to airports, and it worked out really well.”

“We will not sell or share your data.”

“So I think that the basic secret to clear is that identity is foundational across so many industries, and people don't think of identity as the problem. They think of fraud or compliance or frictionless experience, right, or whipping out cards or insider risk.”

“Identity is completely contextual. I'm always Karen, but when I check in at the doctor's office, I'm Karen with UnitedHealth, with an ex copay, with a medical record, that by the way, I should own, and have access to, and be able to share anywhere I want.”

“And I would argue it's a little bit open in that we are, right, connecting for our partners and bringing that member to a partner, whether it be Home Depot, whether it be LinkedIn, whether it be a hospital, either for the workforce or the patient.”

“Clear shuts down on June, 22nd, 2009.”

“We bid six million dollars in cash, which I think was a little lower than the existing bid, but it was a hundred percent cash that night given to them. And, ah, we won.”

“He got into 16 airports. Ah, I think he raised about a hundred million dollars of capital and then had some debt on top of that. And, ah, was building this concept of a trusted traveler program, a registered traveler program, with biometrics on a smart card. S…”

“So for instance, we invested in a company called Landline. Which is replacing regional jets with buses and able to go to the back of the airport as opposed to the front door.”

“We are face first with our NVs, which makes it, you know, five times faster to verify”

“Our customer experience degraded in 23 and part of 24, which caused throughput. Issues. It wasn't because of volume. It was because of some policy decisions that were put in place that impeded the customer experience.”

“They put in some physical escorting policies so that a clear employee who verified you had a stand with you, which created all sorts of challenges. All of your team members are standing in line. Also, they wanted to recheck At a extremely high level identity d…”

“We bought a 190,000 members, biographic and biometric data. They had to opt back in. To clear. Yes. They had to come back to clear, and we would give them whatever months they had left. I think in aggregate about 75% of them did come back.”

“Because we didn't buy software. They didn't own their own technology. So we had a rebuild, and we wanted to rebuild the software from the ground up.”

“Danny Meyer, one of my great heroes, and he became an investor in Clear, and that was awesome.”

“One of my sayings is that every week is two percent of a year. So when someone's like, let's meet on that in three weeks. I'm like, we're going to wait six percent of the year to have that conversation. That's insane.”

“I did not take a salary for the first five years and, you know, got paid in stock and to me that was a privilege.”

“And we turned cash flow positive six and a half years in and we had burned through fifty three million dollars of cash to get there.”

“Went to Silicon Valley. I came back with zero in 2012 and zero in 2015.”

“And now we actually sell PreCheck. Our view was great. You want to start other kinds of trusted traveler programs. We're a great enrollment mechanism. This is exactly what we do. And for the past year, we have been enrolling people in PreCheck, and it's a grea…”

“And truth be told, I have not bought a single stock since, ah, we ended Ariance because if I can't like focus and do it, I'm not doing it. And I own a lot of clear stock and, you know, have investments in other places, but I'm focused here.”

“We took our salaries to zero and we created a leave of absent plan for our ambassadors so that when it really happened on March 12th, ah, we were prepared and pivoted to creating health pass and connecting people to their test information and ultimately their …”

“We've bought back let's see, we were, I think we peaked at a hundred and fifty-five million shares, and we're at a 133 and change, so we've bought back a lot of stock. All the stock that we went public with at 31, we bought back at a lower price, if you want t…”

“Biometrics are a feature, not a product. The product is the experience.”

“I don't think a lot. I don't think there's a lot. I mean look at your iPhone or your Google phone, Samsung, right? First touch ID started, I think in. Or something of that nature. And then face ID. So, I don't think there's a lot in between that. I think it ma…”

“We're partnered with the Clippers, where you can use your face for age verification to buy a beer.”

“We have this new capability to, ah, read your passport and the e-chip. And so that's both Real ID compliant”

“I'm attracted to people who have humble beginnings, who have overcome adversity, who don't fear failure, who want to be a team player, who are straight shooter and non bureaucratic.”

“I would say the same thing for genetic testing that your biggest competitor is inertia. Getting people to do anything. Like again, the test was free. All you have to do is spit. Like, not hard. So hard. Save your life. Save your kids life. Really frickin hard.…”

“I think that we should have triple digits Members on the platform using it for various use cases.”

“I think the World Cup is a real forcing function for our country, and it's only one year away. I think, you know, it was in Doha last time and in the Middle East, I think the opportunity to bring it to the cities in the US, major cities in the US, LA, New York…”

“And so she buys the business out of bankruptcy for six million dollars. Then she goes on and raises fifty million dollars and she renames the company and she calls it clear.”

“So they give away 10 to 13% of their revenue to the airports. And what that comes out to be is something like of their revenue in 2019. They're doing like three hundred fifty million in revenue. They gave out thirty five million dollars to airports.”

“I'm not sure I'm a believer in the rest of that vision, because like, I don't care like, the amount of effort it would take for the, you're at a ball game, and you want to buy a beer, and now each beer vendor is going to buy hardware, To scan my retinas and I …”

“They're in 53 airports in they're, The trailing 12 months, they've done five hundred and thirty million dollars in revenue.”

“We talk about, you mentioned clear the airport security company. They're doing a lot of health credentials type business and competing for the NFL teams that we're talking to as well.”