Cameron Herold
speaker
284 appearances
2 recordings
2 series
first heard Jan 2025
last heard Mar 2025
Cameron Herold’s voice in public audio — every appearance, attributed to the second.
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Appearances
But if you have a management team whose answer to every problem is hire more people, if you're a leader who's trying to be very inclusive and make sure everybody's liked, you're going to be out of business. And that's happening faster than we think. And then if you're an employee who is worried about AI, AI is not going to replace you. but an employee who uses AI will replace you.
So you as an employee need to be really good at AI. You need to be learning AI. Even our COO Alliance members, any of the COOs who are members of the COO Alliance, not only do they get the normal two hour call every month with a different thought leader, we also have a one hour AI expert call every month.
We have a different AI expert every single month presenting to our COO Alliance members so they can actually get more skills to bring into their company and to grow themselves. Those are the companies that are going to do well or that are the ones that are investing in their leaders, growing their people, getting rid of the waste, making the tough decisions.
They'll do quite well or they'll certainly survive this tougher time. But the ones that are expecting stuff to go back to artificially low rates, you're going to get a wake up call. It ain't happening. It ain't coming.
Well, this is maybe where some of the wisdom of age comes in as well. It's very hard for a 35 year old to understand that interest rates are not going to drop again because in their lifetime, interest rates have always been low. So now that interest rates are going up, they're like scared. Interest rates are going back to very normal. I went through three major economic downturns.
I was running a company during the 08-09 financial crisis. I was building a big company when the 2000 stock market crashed and the NASDAQ crashed by 78%. I was running another company just before I hired Kimball Musk when the stock market crashed in 1991 and 92 and we had a major recession. So I've built companies in these slow times already, right?
When you've done that already, you understand that it's a different way. It is kind of what you mentioned, the wartime versus peacetime CEOs. You need to operate a little bit differently. And the companies that are willing to do that and ready to do that will do well.
The ones that are fearful and kind of restricted or that don't cut fast enough and don't focus on the critical few things are going to find a wake-up call is coming. It's like anybody in North America who right now is saying, I'm only going to hire people that are based in the United States. You're out of business. You literally can't compete.
When my entire team right now, I've got two people based in the Philippines, two people based in Argentina, one person based in Pakistan, one person based in Ukraine, one in Texas, and one in Oklahoma. that's a pretty good global team, right?
But if I was to say, no, they all have to be in the United States, I'm paying 80% more, 70% more, 60% more than I need to be, which is profit or gross margin that could be mine. So be very careful with how I be very careful with how you're thinking about your business and the decisions you're making around, around overhead and margins.
Oh, for sure. Are you telling me the absolute best people happen to live within 20 minute drive of your office? Cause nobody great wants to drive 40 minutes to come to you in 40 minutes back. So it's about 20 minutes. So draw a 20 minute grid around your office. 20 minutes away from you is your talent pool.
And you're going to find the absolute best people who line up with your culture and skillset and behavioral traits and AI expertise. Good luck. It ain't going to happen. We noticed that at one 800 got junk. It was tough to find the great people. And we were the number two company in all of Canada. There were only three companies that anyone in Vancouver wanted to work for.
Us, Lululemon, because this was their head office, and the Vancouver Olympics. Those were the only three businesses anyone wanted to work for. But it's hard to find people a 20-minute drive away.
I hope so. I hope that the cuts that they're identifying, that both sides realize that 90% of those cuts are good. You know, look, they looked at all these software licenses that there was, I have to make up some numbers, but 15,000 licenses and only 300 were being used. It's very hard for a Democrat, a Republican, a Libertarian, no one can say, oh, let's keep the 15,000 licenses, right?
That's just waste. So all of those cuts should be okay with, like, I can't comprehend why we should build an embassy in South Sudan. So I think 90% or 95% of the waste we're identifying Everybody should just see that as wasteful. Let's argue about the 5% that maybe there's some philosophical differences that, no, we should take care of, you know, single moms living in wherever.
Yeah, we probably should more, right? Let's take care of, I don't know, even some of the gender issues maybe. Sure. But let's be more ruthless about that decision-making instead of saying yes to everything. And I love, I love that they are posting all the waste that they're seeing because then we can really look at it in front of God and our grandmother.
We can really look at it in the mirror and go, yeah, it's kind of hard to argue that one. That's pretty wasteful, right?
And it's no different than in our normal household, right? If you're a mom and dad and you're raising three kids, you want to make sure that you donate to some of the causes that are important to you. Absolutely. And you want to make sure your kids have food and your kids have clothes and your kids have a good education, your kids are taken care of. So we kind of want to do both.
But you don't want to be wasting food at home. I don't want to be buying a refrigerator full of food and throwing it out every four days because it's going bad. Nor do I want to be donating money to charity and having my kids go starving. So we just have to run the government a little bit more like a business. And there was always this argument that you can't. Well, I think we have to.
I think we have to find a way that the bureaucrats don't actually get to stay in control because when all of this waste is being so uncovered and so glaringly brutal, that's where all the costs are. If we get rid of the waste, we don't have to raise taxes for anybody, for the working class, the middle class, the upper class. Nobody has to pay more.
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