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Alex Wiltschko

πŸ‘€ Speaker
1216 total appearances

Appearances Over Time

Podcast Appearances

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

What we're doing with this scent is this is a scent that we custom designed for a creator. So someone who has a very large active audience on Instagram, has like a really great rapport and a brand, frankly, but what she doesn't have access to is a way of creating her own product that is resonant with her values, but also just straight up beautiful.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

What we're doing with this scent is this is a scent that we custom designed for a creator. So someone who has a very large active audience on Instagram, has like a really great rapport and a brand, frankly, but what she doesn't have access to is a way of creating her own product that is resonant with her values, but also just straight up beautiful.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

And so what we're able to do is take all of our technology, take our perfumery, and what we've done in very short order is design her a fragrance and we're going to help her launch it. And so part of the value proposition of generation is do you want to launch a fragrance? Do you have a place to put it in front of people but you're missing all the pieces?

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

And so what we're able to do is take all of our technology, take our perfumery, and what we've done in very short order is design her a fragrance and we're going to help her launch it. And so part of the value proposition of generation is do you want to launch a fragrance? Do you have a place to put it in front of people but you're missing all the pieces?

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

Because we can now automate lots of this and we can bring humanity to the rest of this, Like, let's work together. Let's build you a fragrance.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

Because we can now automate lots of this and we can bring humanity to the rest of this, Like, let's work together. Let's build you a fragrance.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

So let me tell you how it's done today and then how we're changing it. So the way that you get a fragrance design today, and I'm not even talking about launching the full product, like literally just the smell. There's more that you have to do to launch the full fragrance. you submit what's called a brief. So a brief in other industries would be called a request for proposal or an RFP.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

So let me tell you how it's done today and then how we're changing it. So the way that you get a fragrance design today, and I'm not even talking about launching the full product, like literally just the smell. There's more that you have to do to launch the full fragrance. you submit what's called a brief. So a brief in other industries would be called a request for proposal or an RFP.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

And it can be anything. So it's actually very, very free form in this industry. That itself could be revolutionized. So let's say you write a Word document and you describe your brand. You're going to describe what you want it to smell like, who you are, what you want the brand to be resonant of. And then at the bottom, you'll usually specify two pretty important things. What's the benchmark?

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

And it can be anything. So it's actually very, very free form in this industry. That itself could be revolutionized. So let's say you write a Word document and you describe your brand. You're going to describe what you want it to smell like, who you are, what you want the brand to be resonant of. And then at the bottom, you'll usually specify two pretty important things. What's the benchmark?

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

So is there a scent that you want to beat? And usually that means I kind of want my thing to smell like this, but make these changes. And then what's the price you want to pay? So how many dollars per kilo, which can be as low as like, you know, 10 bucks per kilo. It can go for fine fragrance, can go up into the many hundreds of dollars per kilo. It just depends on what you want to launch.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

So is there a scent that you want to beat? And usually that means I kind of want my thing to smell like this, but make these changes. And then what's the price you want to pay? So how many dollars per kilo, which can be as low as like, you know, 10 bucks per kilo. It can go for fine fragrance, can go up into the many hundreds of dollars per kilo. It just depends on what you want to launch.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

You submit that brief to a fragrance house. And again, this is the traditional way. Somebody receives that, and in their kind of weekly meeting, they read the brief, they read the volume that you want to make and the price, and they decide whether or not they want to work on it. And here, you haven't paid the fragrance house anything.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

You submit that brief to a fragrance house. And again, this is the traditional way. Somebody receives that, and in their kind of weekly meeting, they read the brief, they read the volume that you want to make and the price, and they decide whether or not they want to work on it. And here, you haven't paid the fragrance house anything.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

They look at the brief and then they say, okay, we want to work on this. Usually, 90% of the time, they go to their library and they say, oh, we've already made something for somebody else. Let's send Patrick this scent that is from our library. And then you'll get that and maybe you like it, maybe you're done. But 90% of the time, sometimes more, you aren't getting a new custom sent.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

They look at the brief and then they say, okay, we want to work on this. Usually, 90% of the time, they go to their library and they say, oh, we've already made something for somebody else. Let's send Patrick this scent that is from our library. And then you'll get that and maybe you like it, maybe you're done. But 90% of the time, sometimes more, you aren't getting a new custom sent.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

And by the way, that process itself, that may take weeks, months. But let's say you push back and you say, actually, I want something that's really custom. So you know you're a sophisticated buyer. You say, don't give me a library sample. Now you're looking at like a 12 to 18 month process of going back and forth. Every time you submit notes, it might take three months for them to get back to you.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

And by the way, that process itself, that may take weeks, months. But let's say you push back and you say, actually, I want something that's really custom. So you know you're a sophisticated buyer. You say, don't give me a library sample. Now you're looking at like a 12 to 18 month process of going back and forth. Every time you submit notes, it might take three months for them to get back to you.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

Super long process. And by the way, once you get the fragrance, you still don't know if it actually works in the application that you're going to put it in, right? So you have to do application testing. So let's say you want to launch a a skin cream and you want it to be slightly fragranced.

Invest Like the Best with Patrick O'Shaughnessy
Alex Wiltschko - Giving Computers A Sense Of Smell - [Invest Like the Best, EP.415]

Super long process. And by the way, once you get the fragrance, you still don't know if it actually works in the application that you're going to put it in, right? So you have to do application testing. So let's say you want to launch a a skin cream and you want it to be slightly fragranced.