Business

Eric Lefkofsky wiki entry

Eric Lefkofsky (born September 2, 1969) is an American entrepreneur and philanthropist who is most noted for his co-founding of ecommerce giant Groupon as well as his personal leadership of cutting-edge oncology data pioneer Tempus. Lefkofsky is also a major philanthropist around the country and, particularly, throughout the Chicago area.

Early life and education

Lefkofsky grew up in Southfield, Michigan, a suburb of Detroit. His father, Bill Lefkofsky worked as a structural engineer and his mother, Sandy, was a local schoolteacher. He attended Southfield-Lathrup High School where he graduated in 1987. He was accepted to the University of Michigan where he graduated with honors in 1991. He received his law degree from the University of Michigan Law School in 1993.

Entrepreneurial pursuits

Shortly after graduating from law school, Lefkofsky decided that he would rather pursue a career as an entrepreneur than become a practicing lawyer. He and a college friend founded and acquired a string of businesses throughout the 1990s, which eventually culminated in two of their companies, InnerWorkings and Echo Global Logistics, going public in the mid-2000s. These transactions made Lefkoskfy extremely wealthy. But his biggest successes were still in front of him.

In 2007, Lefkofsky co-founded a web-based business called ThePoint.com. This company would eventually change its name to Groupon. Under Lefkofsky’s leadership, the firm grew at a breakneck pace. By 2011, Groupon was worth at least $6 billion. Lefkofsky and his family netted nearly $400 million when Groupon partially bought him out in that same year.

Tempus

In 2013, one of Lefkofsky’s close family members was diagnosed with cancer. This brought Lefkofsky himself into contact with America’s oncology industry. He was shocked to discover that, in many cases, oncologists had objectively worse data support than many over-the-road truck drivers.

Over the next few years, Lefkofsky began researching the state of medical data in America, particularly as it relates to electronic medical records and the analytics and interfaces that allow physicians, particularly those working in cancer-related specialties, to make the best real-time decisions on patient care.

He found that there was massive room for improvement. In 2016, Lefkofsky founded Tempus, a company dedicated to helping oncologists access and optimally use the vast troves of data that are potentially at their disposal.

In an interview with Forbes, Lefkofsky explained that there is currently so much data available to oncologists that the problem is not getting more data but being able to optimally use it. As someone who was deeply familiar with the advanced statistical methods that are collectively referred to as artificial intelligence, Lefkofsky immediately recognized that the problem of using the oceanic pool of data that is currently available to oncologists is precisely a class of problem that artificial intelligence is good at solving.

This was the genesis behind Tempus. Today, Tempus is helping doctors make far better use of their data. An example that Lefkofsky often gives as to the types of problems that Tempus helps doctors solve is the case of the cancer treatment Herceptin. Like almost all chemotherapies, Herceptin is given to patients with certain disease characteristics, namely breast cancer that tests positive for the HER2+ growth factor.

However, the variance in outcomes from this drug is enormous. Lefkofsky explains that some patients respond remarkably well to the drug while others end up having to resort to second-line treatments. In some cases, the drug proves dangerously toxic or even fatal. In fact, across the entire gamut of cancer treatments, a significant portion of patients simply turn out to be incapable of tolerating the treatments.

Lefkofsky explains that this wide variation in patient outcomes is due to inadequate modeling where medical professionals are relying on treatment modalities that only weakly correlate with patient outcomes. In other words, the way in which oncologists are determining what course of treatment best suits patients is inadequate because the decision-making process in selecting treatments does not adequately take into account or best use all of the available information.

Lefkofksy says that in the case of Herceptin, it may be possible to eliminate most or all of the worst patient outcomes by simply taking more factors into account and using an artificial-intelligence-derived model to boost predictive power, helping oncologists know ahead of time who is unlikely to respond well to the drug and which patients are at much-increased risk of experiencing high-grade toxicity.

One of the most-promising areas in which Tempus is currently developing its analytic engine is the area of genomic data. With rapidly increasing and far more-accurate genomic data available, Tempus will put in oncologists’ hands analytic capabilities that will rival the power of genome-wide association studies. But this information will be available on demand and will help oncologists make the best diagnoses and treatment decisions in real time.

Ultimately, this will allow a level of customization in the treatment of cancer that promises to someday reduce the disease to an annoying yet manageable malady for most patients rather than a potential death sentence.

In addition to its research and development of some of the most-cutting-edge cancer analytics in the world, Tempus also markets a number of more-mundane but highly valuable products to medical professionals. One of these is its OCR system for structuring doctors’ notes into usable format for inclusion in electronic medical records and other applications. Previously, this function was often outsourced at considerable cost to hospitals. Tempus’ solution promises to radically increase efficiency of making doctors’ notes EMR-usable while saving huge sums for hospitals in the process.

Philanthropy and net worth

Lefkofksy is currently estimated to be worth more than $2.5 billion. He and his wife founded the Lefkofsky foundation, a charitable trust that primarily helps children and medical causes.

In 2013, Lefkofksy and his wife joined the Giving Pledge, promising to eventually donate more than half of their net worth to charitable causes across the world. Read more about Eric Lefkofsky: http://www.accelerateddisruption.com/about-eric-lefkofsky.html

Smita Shah Stresses The Importance Of Time Management

As a highly-educated entrepreneur, Smita Shah values the power of education and the empowerment that it can offer women during their careers. She herself is a graduate of Northwestern University, MIT, and the University of Oxford with degrees in Civil Engineering and Civil and Environmental Engineering as well as a Postgraduate Certificate in Business. Part of the philanthropy work that she does include helping children earn the education that they deserve and need in order to live successful lives as adults. Since she founded the engineering firm SPAAN Tech in 1998, she has managed to grow it into one of the most recognized and sought after firms in her industry. Some of the infrastructure projects that the company of Smita Shah has completed include transportation and aviation.

 

As a woman who is also an entrepreneur, Smita Shah has seen how someone’s gender can impact them in their careers. While women may face different challenges than men when it comes to the business world, she knows that it is still possible for women with the right talent to reach their dreams of being the CEO of their own successful company. While not every woman will be a success in business, it’s also true that not every man has what it takes either. There are millions of women in the world who own their own business and while this number may be less than the number of male-owned businesses, it can still be enough to inspire others.

 

In order to make yourself a success and keep yourself there, Smita Shah says it’s important to separate your personal and professional lives. While it takes a lot of hours and works to make it to the top, Smita Shah warns that it’s important not to take your work home and to keep it in the office. She suggests delegating different responsibilities to others after building a strong team of people to work within your company. Instead of slaving away over your computer when you should be enjoying your day, have someone else be responsible for that aspect of daily operations. Learn more: https://www.chicagobusiness.com/node/721011

 

Being an entrepreneur takes up a lot of time and energy and Smita Shah says that it’s important to be able to manage your time in an effective way. You will have more responsibility in your career as you become more successful and this can be incredibly demanding on your time. It’s important to take care of yourself along with your business and this includes taking the time off that you need to recover from the stress of being an entrepreneur. Getting a good amount of rest and spending time with your friends and family is important and it’s okay to take a break.

Connect with Smita on LinkedIn

About Richard Liu, JD.com Founder

Richard Liu was named CEO of JD.com, when the website was first founded in 2004. Liu, also known as Qlangdong Liu, is a key driving force behind JD.com’s explosive growth. Liu’s primary goal was to develop a successful e-commerce business that offered consumers a wide variety of quality products, delivered to them in an efficient manner.

The company’s fast delivery times – items are often delivered on the same day or the day after – as well as its strict policy towards ensuring no counterfeit or fake products make their way into the marketplace – has allowed JD.com to become a trusted source, including becoming the first internet company of Chinese origin to be named to the Fortune 500 list.

Mr. Liu studied in Beijing at the Renmin University where he received bachelor’s degree in sociology. He was named as of the “World’s Greatest Leaders” by Fortune Magazine.

To Read More Click The Link : www.jd.hk/richard-liu-jd-ceo-about 

Ashley Lightspeed Shares The Benefits Of Prototyping

Before the age of 30, Ashley Lightspeed became a partner at San Francisco’s Lightspeed Venture Partners. She had already been a top performer at three other firms before being recruited for this position. Her job involves developing growth strategies for the companies in her portfolio.

Born and raised in Durham, North Carolina, she studied visual and media studies, markets and management at Duke University. Later on, after moving to California, she also earned an MBA at Stanford. Her first job was at the management consulting firm Bain & Company where she was a senior consultant.

In February 2015, Ashley Lightspeed joined Thumbtack in San Francisco. This company’s specialty is connecting customers to professionals who provide services they need. She headed the wedding category as its manager. While she loved this job, she wanted to help entrepreneurs build new companies and so left after a year and a half.

While studying, she worked at Growth Stage Companies part-time. This was a great position for her while studying because she was a consultant who didn’t need to keep in contact with clients every day. It was her experience and success in this position that led to Lightspeed Venture Partners wanting her to join their team.

Her dad is an architect and she wanted to work in the same occupation as a child and teenager. She spent a couple of summers going to design camps where she learned the refrain, “measure twice, cut once”. She took this message to heart and carries that over into her consulting work. She is a big proponent of prototyping new business ideas and seeing which ones work before pulling the trigger. She says that entrepreneurs need to be flexible and have the ability to pivot when needed. It sounds simple but it’s really easy to get too attached to an idea, Ashley Lightspeed says, which is what she advices her clients against.

To know more about Ashley Lightspeed follow her at https://medium.com/@ashley.brasier

Maurício Mendonça Godoy’s Unique Entrepreneurial Skills

Maurício Mendonça Godoy has become a business icon and an interesting feat into the entrepreneurial world. The go-getter man who has been in business for only two decades has had it all. It is not a wonder that Mr. Godoy is a co-owner of a company that he worked for before. This is proof of his much-needed skills and expertise in any company that he sets his foot into.

The Mackenzie Presbyterian University graduate runs one of the world’s largest firms and runs other 5 businesses. His resilience and outgoing nature have helped him a great way in career. Maurício Mendonça Godoy ensures that he tries his best to help those who run to him for help and advice. This has enabled Mendonça to win the trust of many, including his clients.

His skills and vast knowledge has made Estaleiros do Brasil Ltd. To stand firm and, no company can equal it in terms of services, clients turnover, and products as well. Just like any other ordinary person, Maurício Mendonça Godoy started his long journey by being employed right after his university education. It is in the many companies that he worked for that he honed his skills and grew interested in becoming an entrepreneur.

His expertise has made him head other prestigious firms like Toyo Setal ltd. His top leadership skills have seen Toyo Setal grow tremendously not only in New York City but around the world as well. His ability to manage any contract given to the companies that he runs has enabled him to be on the spotlight and be the most sought after entrepreneur today.

Godoy has moved further and incorporated a very highly skilled team of professionals in his companies. This, he says, is to ensure that the clients get first class services that will always make them come for more. Mr. Mendonça Godoy always encourages employees to work as a team and to be very proactive so as to bring out the best in them. Maurício Mendonça Godoy believes that his legacy will be carried on long after his retirement and hopes that the generation that follows will carry on with his good works.

Visit More : www.catho.com.br/buscar/curriculos/curriculo/15419940/

Shervin Pishevar Warns About Some Dangerous Economic Trends The U.S May Be Facing

Twitter is a busy forum with many people sharing their opinions on multiple subjects. Only a few people can bring the platform to a momentary stand and keep a subject trending for hours. Shervin Pishevar is one such notable individual who brought the platform to a stand after releasing a few opinions and predictions on the U.S economy. These tweets were popularly branded the 21-hour tweet storm as they popped numerous questions, opinions, and controversies to the open.

The funder of Sherpa Capital, a well-known investment fund with contributions in Uber and Airbnb, brought his criticisms for the public to judge. In one of Shervin Pishevar’s string of tweets, he commented on the long-troubled U.S stock market. He tweeted that the markets would experience a massive drop of 6000 points in the coming months. This downturn in the stock market would be highly favored with the financial crisis in the country due to tax giveaways, inappropriate management of credit accounts, and hiked interest rates.

Although controversial, we cannot fail to acknowledge some evident truth in Shervin Pishevar stating that China’s economic growth would surpass the United States. He necessarily touched on their technological development, infrastructural growth, and growing manufacturing sector. Pishevar sited that these differences can be traced from poor management of projects and the failure of the U.S markets to accept immigrant talent and insightful investors.

We can see that from the dimming lights of Silicon Valley. Having been part of the Silicon Valley community in the past, Shervin Pishevar acknowledges the entrepreneur potential the center holds. However, due to a few bills failing to pass Silicon Valley and the potential it holds may be looking at an unfortunate turn of events. More talent that would be used to actualize solutions for the economy will continue to die.

Another factor that could be smothering the rise of new talent is the monopoly power held by five companies. These monopolies include Amazon, Microsoft, Apple, Alphabet, and Facebook. Shervin Pishevar suggests that if policies aren’t stipulated in time to help small startups find a footing, we would be welcoming a disaster that will last for ages.

https://www.crowdfunder.com/user/70776

 

Smita Shah and Value Engineering

When Smita Shah is looking at a regular company we must always ask specific questions such as the ones presented below.

 

If Smita Shah is asking these questions we can determine a certain level of efficiency.

 

How much does the entity have to raise?

How much money does the entity have to pay in interest on the funds that it raises?

How much does the entity have to pay in the non-interest expense on the funds that it has raised?

How much equity does the company utilize in regard to the overall funds that it has on board?

 

Furthermore, Smita Shah must ask about the other factors that would be in play. Such as what are other expenses involved in starting up a company? These are aspects that one must dive into and discuss after having these initial thoughts. Learn more: https://www.thechicagonetwork.org/members/smita-shah/

 

Then, when we move on to the next aspect of the entire picture. What kind of work does the company engage in? How does it guarantee that it can conduct itself in an efficient manner? Well, if it is able to engage in safe activities such as selling groceries in a way that has proven to be profitable then it can have a steady future. 

 

For example, a bank that holds first-lien mortgages on lands and general agriculture areas may see that it has minimal losses in most years while only having a loss in the odd year or so. All specific industries benefit from being in a sustainable position where they have limited debt. 

 

Borrowing against assets is helpful only if the asset value will go up and one is able to pay back the debt in a proportional manner. Steady businesses such as residential mortgages businesses show that there are minimal fluctuations in operations and income and can provide value growth over the long-term. Thus, one can see that there is little loss of value.

 

As such, by asking the right questions we see that we are a better level and know why one entity will be able to win in the long-term. For an entity that has overall interest expenses that are less than 2.0% of all average assets, we can see that this is a great number. When factoring the cost of borrowing one can see that if one is able to get loans that are close to the U.S. Treasury bond that yields about 2.0% then one can be in great shape. Remember that the cost of borrowing matters because this is what the company must certainly account for in its day to day expenditures.

 

How much does the entity pay in the non-interest expense on the funds it has?

 

That is one important question to ask.

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Jingdong Customers Excited About New Salmon Offerings

There is no denying that there are a lot of health benefits associated with salmon and it just makes sense that it has become so popular in recent years. Consumers in China and throughout the rest of the world are becoming more concerned with their health and the food that they are putting in their bodies. This is one of the things that has inspired Jingdong to form a partnership with Mowi China in order to provide salmon that is processed in mainland China. Using their advanced logistics systems that spans many parts of the globe, the retail giant Jingdong is able to deliver fresh food and other products faster than almost any other retailer in the world. Logistics has always been an important of any online shopping experience and JD.com works to go above and beyond expectations.

The fresh salmon that is packaged in mainland China by Mowi and will soon be sold by JD.com is imported from overseas from countries such as Scotland, Norway, Chile, Canada, and Foroe Island. The salmon that is harvested from these countries makes its way to China within just 72 hours to be processed by Mowi China in their factory in Shanghai. Jigdong customers expect to get a high level of cquality and freshness with the food that they order from the company and their logistics system makes this possible. They see the market in mainland China for these salmon products to be big and expect customers to be excited about the 4 new products that they will be offering through Mowi China.

Convenience is important to customers in mainland China who busy living their lives. This is why 3 of the 4 products being designed with the convenience of customers in mind. These incude frozen salmon cubes that were designed to be without any skin or bones and safe for the children of parents who want them to eat healthy even if they are in the middle of a busy day. In addition, they are also offering 2 products that come paired with either spicy or lemon butter sauce.

To know more click: here.

Richard Liu Has Reached the Top

Richard Liu could never have imagined that a very small business could have turned into this large of an empire. Liu is the Chief Executive Officer and Founder of JD.com. He started a company called Jingdong as just a storefront in 1998. This store sold magneto-optical products. Within the first couple of years, the company exploded and he started multiple locations. It grew into twelve chain stores around Shanghai, Beijing, and Shenyang. By 2003, the stores were making nine million dollars annually.

Liu Qiangdong knew he could expand with a growing market like this, so he decided to take his passion online. This is when he started JD.com. Around 2007, he began building a national logistics system to help with the massive number of customers that were coming. He wanted even the people who were in truly rural areas to be able to order products and have them arrive in a timely fashion. This helped customers not to have to travel to another part of the area to get their packages. He wanted the shopping process to be as convenient as possible for his customers. This also helped him to better ensure the packages would be undamaged during delivery. He set a standard in customer service that was not easily matched by any other retailer in China.

Other Chines retailers were using all kinds of brands on their sites. Richard Liu wanted to do things differently. He gets the items directly from the retailers and sellers. This helps with the authenticity of the product. He wanted his customers to have only the best products.
JD.com now has billions of users and is recognized as the third largest internet company and they certainly are the largest retailer in China. They were the first company in China to reach the Fortune 500 list.

For details: www.jdpay.com/liu-qiangdong-jd-ceo-about

Maarten de Jeu Leads the Farrell Fellows Held at the Museum of Science and Industry

Maarten de Jeu has played a significant role at the Museum of Science and Industry especially after
becoming the co-chairman of the Science Spin program held in Chicago, Illinois. The museum is among the most recognized facilities in Chicago located in Jackson Park between Lake Michigan and the University of Chicago. Established in 1933, the Museum of Science and Industry hosted the
Science Spins program which aimed at educating visitors about the history of the bicycles.
Previously known as the Fine Arts Building, the Museum of Science and Industry utilizes its Farrell
Fellows internship to educate Chicago-based teenagers about scientific teachings. The Farrell
Fellowship internship took five weeks while held during summer. It primarily focused on arts,
sports, literacy, and advocacy; offered to different groups ranging from preschool children to those entering colleges. Besides, the show taught the teens about public speaking skills, science, and leadership programs.
At the end of the show, all participants were provided an opportunity to present interactive scientific activities both available in the museum and the community in general. In the 2014 event,
the show comprised of forty teens showcasing America Got Bubble during their visits to seventeen public libraries in Chicago. Their visits taught young children about designing newspapers to make carnival tents through the Farrell Fellows programs. They also educated them about the benefits of launching model rockets on an escalated striker game.
The Farrell Fellows summer internships provide educative programs to teens as well as children hence provision of life lessons to such groups. Similarly, participants also gain valuable lessons essential to your lives in the future. Each year, the program accompanies varying topics for
instance; 2014 covered bubbles while Maarten de Jeu co-chaired about the origin of bicycles.
About Maarten de Jeu
Maarten de Jeu is a managing director based in Chicago, Illinois, recognized for his work at SVM
Business Advisory. He founded the company in 2012, where he serves as a strategic business advisor and a corporate development expert. Maarten de Jeu received his studies from the
The Netherlands where he attended the University of Leiden in 2001; later joined Said Business School
of the University of Oxford in 2005. Learn more: https://www.socialifechicago.com/msi-celebrates-2017-columbian-ball/smita-shah-maarten-de-jeu-alison-neidt-toonen/
He ventured into his career beginning in 1999 at TVDK Management Consultant in Amsterdam,
working as an analyst. Over the years in the company, he received multiple promotions to executive positions but later left in 2007 as a Senior Associate. Maarten de Jeu then joined an insurance company, Aviva PLC based in London working as a strategic manager before being reassigned to the United States in 2008. He then moved to Chicago to work at Aviva North America
as the Director of Strategy & Corporate Development but left in 2012 and established SVM
Business Advisory the same year.

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