: You can always email me. When it came to dividing the responsibilities, I think we could have gone either way. View Daniel Ramot’s profile on LinkedIn, the world’s largest professional community. The van kept showing up. Daniel Ramot: We’ve raised, at this point, about 450 million dollars for Via. Our mission is to help TAU’s researchers commercialize & license their technologies, & bring their innovations worldwide | Ramot is Tel Aviv University's (TAU) technology transfer company and its liaison to industry, bringing promising scientific discoveries made at the university to industry's … So, today, we have nearly 70 cities in which we operate: cities, corporate campuses, college campuses in which we either operate or are launching very shortly, including four additional cities in which we run our own consumer marketplace in Europe, in London, Amsterdam, Berlin, and Milton Keynes, and in addition to New York, Chicago, and D.C. Take my quiz and get a custom action plan to start raising more capital. We wanted to start a company. So, going from the engineering side to the business side, I’m sure that was also a shift for you. It was just remarkable that growth hack strategy. Daniel, why did you decide to give your notice? While delaying, there are probably others who have your same idea, and they’re moving. This wasn’t an easy problem because we were trying to take essentially drivers of high-end luxury limousines. Just one piece of advice. Just because you’re focusing on the supply side right now, doesn’t mean tomorrow you won’t have demand-side problems. And you are reducing your risk in those dimensions, but what you don’t realize as a founder is that you are creating substantially other risks, which is substantially greater by delaying. Before this, what was life like in Israel and especially with Start-up Nation? Daniel Ramot: You can always email me. Daniel Ramot: Yeah, originally from Israel. I didn’t have much background in biology, so I had to teach myself and learn quite a lot of biology to catch up. Daniel Ramot is the cofounder of Via which provides on-demand transit on a mass scale. So, I took some responsibility for overseeing the day-to-day of the service and the operations, but it’s really a partnership. Via’s Daniel Ramot on Pooled Ride Sharing. I think the one thing I would have done differently, and the one piece of advice I would give to founders is to move really quickly. Daniel Ramot: Thanks so much. Most days, we knew where our priorities lay, and that was with just trying to convince as many drivers as we could to come on our platform and provide this service. I’m daniel@ridewithvia.com. Those first six months were really challenging because I essentially had two jobs. In fact, if you were to ask me other than the subway, I believe it has a really good likelihood of becoming the major way in which people get around cities because it hits this sweet spot. That was a great experience trying to bring that together into biology. We probably only had signed up four different cities for our service. Daniel Ramot on Google News, Twitter, LinkedIn, YouTube; View the pictures of Daniel Ramot; Participate. So, he’s running the tech team and the algorithms. I wasn’t quite sure what I wanted to do. I would say that’s what really characterizes a lot of my work is always to really think about the product and the system. I think that connection that we have, that ability to work together very effectively, that was really the most important piece for us in this understanding. The next day, all these drivers show up, and no one is booking rides, and you’re super stressed about having too many drivers who will not come back. So, today, we have nearly 70 cities in which we operate: cities, corporate campuses, college campuses in which we either operate or are launching very shortly, including four additional cities in which we run our own consumer marketplace in Europe, in London, Amsterdam, Berlin, and Milton Keynes, and in addition to New York, Chicago, and D.C. Alejandro: Right. The funny thing is that if you look at what some of the other players have raised, whether it’s Didi in China, Grab, Uber, and so forth, it feels like a tiny amount of money, which is frankly ridiculous. : Got it. What were some of your biggest takeaways from this experience? : Right. That was a great experience trying to bring that together into biology. That’s a very broad question. So the company began running its own … We’re continuing to sign up cities and transit agencies, and now corporate partners for corporate shuttles, university campuses at a very, very high rate. And there’s nothing against it. Then working as an engineer and a product manager for several years. I didn’t have much background in biology, so I had to teach myself and learn quite a lot of biology to catch up. What’s stopping you from launching tomorrow? So, maybe, to be fair, those cities and transit agencies that didn’t really want to talk to us in 2013 were actually pretty smart, because I think the system we had then, it wasn’t really good enough. So, we try to understand behavior and tie that into the specific electrical signals of certain neurons and build mathematical models for that. So, we did quite a bit of market surveys. Alejandro: Got it. I came to the U.S. for graduate school. Uber and Lift have their shared services, and so forth. Just over 100 people. That’s what I would say. I think if we had just jumped into it instead of trying to stick to our jobs during the week and only work on this on the weekend, we could have gained six months or so. What you learn very quickly is that it’s an incredibly complex organ and that we really don’t know that much about it. This is my first startup. So, a lot of what we do at Via, there are things that I and some colleagues of mine who have come from D. Shaw learned at D. Shaw. So, I went to Stanford to try to get a bit of an education. How did you meet all of these people? You were talking about Oren, your co-founder. Alejandro: Got it. Founded in 2012, Via is reengineering public transit – from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. : That’s a great question. We started talking to, as I mentioned, a lot of transportation experts. : Got it. Oren was just finishing up his Ph.D. at the Wiseman Institute in Israel in systems biology. My background, as I mentioned from the Air Force, was mostly physics and math initially. Daniel Ramot, Via’s cofounder & CEO, has a Ph.D. from Stanford in neuroscience. So, a lot of investors started potentially taking the service, folks who are investors, VCs from Hearst Ventures and others, private investors, and then reaching out to us and saying, “Can we talk? Would that work?” We basically got the okay to do that within the statute. Then we’re introduced to these later-stage investors through either existing investors or other folks that we knew. The founder, David Shaw started another company about 15 years ago or so, called D. E. Shaw Research, which is the company I joined. See the complete profile on LinkedIn and discover Or’s connections and jobs at similar companies. Daniel Ramot: I think that’s a great question. In your case, what did you learn from neuroscience that perhaps you have been applying now what you’re doing at Via? After quite significant efforts in 2017, we really ended up that year with very few partners. : Great. One day he called me with essentially the idea for Via, and he had been trying to get from one place to another in Israel using a class of transport that we have in Israel called Charo taxis, which are basically translated to service taxi if you will, which is a fleet of vans often white that are not very techy. Where I think we were really innovative, and we were first was in this concept of dynamic on demand shared rides. We also know that we work together very well because we worked together in the Air Force for four years, and we built complex technology very well and faced lots of challenges, and hopefully overcame them together. I think what’s much more important in a sense between founders is that you have a common understanding and that you get along really well, and that you work together well, and that you are just compatible in that way that you’re going to be successful together solving really hard problems because you’re going to run into a lot of really hard problems. Oren was actually in Boston for a year with his advisor who had moved to Harvard and spent a year there. The Hearst Ventures, for example—this is one example, and there are actually quite a few other examples. So, almost all of these investors that you mentioned, our first investors we knew personally. We started out, we were the only person in the car, but then now the cars are full. There are so many pieces that go into it. D. E. Shaw, some folks may be familiar with is a very large hedge fund. Most of the time where we were having to play catchup is on the supply side. We can also use smaller vehicles all the way from regular sedans to minivans and vans. How to think a lot about recruiting. That was the core mission of the company. Then for six months or so, Oren and I really tried to prove out—this was early 2012, the first half of 2012 until June 2012 when I left D. E. Shaw Research, and we formally launched the company. So, how did you guys get this kind of like chicken and the egg or supply-demand type of thing in motion? So, he’s running the tech team and the algorithms. How was it? Targeting the gap between outdated public transit and expensive luxury car services, the Via platform operates in New York City and Chicago, has provided more than two million rides, and is growing rapidly. So, my advice is always—or my question is why haven’t you already launched? I think when you think about the problem Via is trying to solve which inherently has a lot to do with traffic, and traffic systems, and interactions between people, and road systems, and traffic, thinking about that in a structured, analytical way, thinking about how to distill a complex system like that into some simple equations much like you could think about how do I take the brain and behavior and try to instill that into a set of simple equations and use data to do that? One day he called me with essentially the idea for Via, and he had been trying to get from one place to another in Israel using a class of transport that we have in Israel called Charo taxis, which are basically translated to service taxi if you will, which is a fleet of vans often white that are not very techy. : Yeah, that’s a good question. They take some time to incubate, and even though we don’t know that’s the case, it just happens. We took an approach which has been really key. So, coming from the background that I had which was in engineering and computer science, and then some biology training that I got in grad school, being able to bring that all together into, sort of going back to engineering to building these machines, these supercomputers was just a really great challenge. It’s a really interesting, obviously, question to study how does the brain work? We were on the same project. Oren spent a couple of years at McKenzie. I studied physics and math as part of the program that the Israeli Defense Forces have called [1:15]. You can read a lot about. At the time, it was GetTaxi in Israel. The driver passes back the change. Alejandro: Got it. This was a viable idea. At that time, it was mostly high-end kind of UberBlack service. : Got it. We worked together in the Air Force for about four years. In particular, the main product there was a very large custom-designed supercomputer that we were building to accelerate by a law of certain class of biological simulations called molecular dynamics. The company has raised so far over $450 million from investors such as Pitango Venture Capital, Daimler, Kapor Capital, Hearst Ventures, or RiverPark Ventures. They’re a little bit more flexible than the bus that you can get on and off anywhere. And that’s what we’re starting to see in some of those cities we’re operating at scale where there’s a real opportunity to create a very high penetration service. I think that that mode of transit, this on-demand shuttle service has the potential to become a major mode of transportation in every city in the world. : You know, it was a tough decision. They were doing private rides. D. E. Shaw Research—probably oversimplifying it, but if I were to say tries to take a similar approach than D. E. Shaw had taken in finance and apply it to pharmaceutical drug discovery. | 161 Kontakte | Vollständiges Profil von Daniel auf LinkedIn anzeigen und vernetzen That was definitely some feedback we got. I was very interested in studying neuroscience. What we needed to do was just make sure that that regulatory avenue would also allow us to dispatch shared rides so that it would be okay for that driver from a regulative perspective to pick up multiple passengers. Once you book a seat, we match you with one of these vehicles that can best serve you and basically aggregate you with other passengers who are headed in the same direction. Being able to apply concepts that you have learned from your time doing something else to a completely different industry. We could just go and do it. So, Daniel Ramot, how’s it going? Then Oren did his Ph.D. We were looking for that right idea that we could believe it and make that jump. : Nice. In particular, the main product there was a very large custom-designed supercomputer that we were building to accelerate by a law of certain class of biological simulations called molecular dynamics. I just wanted to let you know I’m not leaving right away, but I’ll be spending weekends working on this. Can we chat?” We actually go quite a lot of investment from users, which was really fine. The way I had always thought about it was that I was a product person. So, it was always a struggle to get enough of these guys on our platform. The other piece is our marketplace, the product we launched, fortunately for us had just a tremendous response from riders, from passengers. He was doing very well. Before Via, you went to work for the D. E. Shaw Research for four years. : Got it. They’re not getting any work. I think that you’re trying to reduce your risk in a sense, by doing all this due diligence and proof of concept. You have Kapor Capital. The way we got there was we were walking around. Via $200.0M Round: Series E Description: Via develops and provides on-demand public mobility solutions.Founded by Daniel Ramot and Oren Shoval in 2012, Via has now raised a total of $587.1M in total equity funding and is backed by investors that include Shell Ventures, Pitango Venture Capital, Millhouse LLC, Kapor Capital, and Hearst Ventures. And those six months are super valuable. A lot of cities and regulators were opposed to it. So, we decided to launch our own service. Then we’re introduced to these later-stage investors through either existing investors or other folks that we knew. Email Linkedin WhatsApp Prof. Cohen-Or Daniel My research interests are in Computer Graphics, Visual Computing and Geometric Modeling and including rendering and modeling techniques, Shape Analysis, Shape Creation and Editing, 3D Reconstruction, Photo Processing, compression and streaming techniques, visibility, point set representation, morphing and volume graphics. It took a while to convince people. What happened here? So, I learned a lot about technology and about building these complex systems. When we were first thinking about Via, we went and talked to several dozen experts in the transportation business and tried to understand how they structured their business and what the costs were. The people there was great, and the project was just super interesting. How was that transition for you? We can also use smaller vehicles all the way from regular sedans to minivans and vans. : Got it. We built a really neat simulation of how this would work on top of which actually sat that initial version of the algorithm. As I head towards the end of my time with founders during these interviews, I always typically ask the same question towards the end, and that is if you could go to the past and give yourself advice before launching your first business, in this case, let’s say Via, what would that advice be and why? That requires a big investment until you get to the right scale where you can start to see a return from that investment, and it requires a huge amount of fundraising and a huge effort. We didn’t have the first mover advantage on the whole idea of using an app to book a ride, for sure. I had some fantastic colleagues. You get in. I think that may be fair, but it’s hard for me to say. Danny has 2 jobs listed on their profile. It’s everywhere, and it’s a big car.” He was pointing at a Chevy Suburban. The company has raised so far over $450 million from investors such as Pitango Venture Capital, Daimler, Kapor Capital, Hearst Ventures, or RiverPark Ventures. That was quite a bit of time. Alejandro: Got it. I just thought studying how the brain works is probably the most interesting thing anyone could do. I think with the caveat that I have an N of 1. Of course, I get it, and it’s brilliant.” That was that moment that I think we decided to do it. I thought we were the only ones who were finding it difficult to launch a marketplace. Why haven’t you done it yet? And you are reducing your risk in those dimensions, but what you don’t realize as a founder is that you are creating substantially other risks, which is substantially greater by delaying. Then spent six years working for the Israeli Air Force developing avionics systems, first for F15s and then for F16s. If you travel in South America, whether they’re [13:16] in Africa, [13:18] in Russia, and of course, all throughout Asia, there are these van-based systems that are very prevalent, and we had them in Israel as well. So, we were using algorithms, computational techniques, and computers to try to discover new pharmaceutical drugs. If you think about it as almost a marketplace for seats, we connect to you as a passenger with a seat. Daniel Ramot: I think, on the one hand, we benefited from the fact that Uber had already launched their service in New York. Generally, we were too similar, and that wasn’t the right founding team in some sense. Alejandro: Pretty cool. The vans, their routes are determined in real time dynamically based on where people are requesting rides. Oren was trying to ride in one of these, and it wasn’t going very well, and it occurred to him that if he had an app that he could book a seat on one of these vehicles and track it as it was approaching and know when it was coming, that would be a much more efficient way to utilize this system. : Absolutely. I saw that you guys have really interesting investors. Right? In terms of metrics, where are you guys at in terms of rides and all of this? Footer Credentials Area We were walking around the streets of Manhattan feeling quite depressed because we were trying to get all these vans to come join our platform right before we launched, and there were very few of them, and the drivers that were willing to come, they were going to charge really high fairs that were never going to work for a mass transit service like we were trying to build. What kind of challenges did you guys encounter like not having that first move or type of advantage? I don’t think the regulators every contemplated that, but just by chance, by luck perhaps, the way they’re written, it was legal to provide these shared rides. They’re just a slightly more convenient, more agile sort of bus that uses these smaller vehicles. It feels like this model maybe is working. Ramot mencantumkan 2 pekerjaan di profilnya. How to think about managing a small company. I’ve got to blame you for that. Maybe if I were to think about what is the key skill that a founding team needs? I have to say because I really enjoyed what I was doing at D. E. Shaw. I think a lot of the philosophy around our hiring and recruiting has come from there. We assumed that only about half of them would actually give us the money. Launching a two-sided marketplace, as you described, there’s this chicken and the egg. Lihat profil Ramot Manurung di LinkedIn, komunitas profesional terbesar di dunia. Launching a two-sided marketplace, as you described, there’s this chicken and the egg. The vans, their routes are determined in real time dynamically based on where people are requesting rides. I saw that you guys have really interesting investors. : First of all, it’s intriguing. I want to try to pursue this idea with my good friend, Oren. On the one hand, we had all these, what I would call maybe ride hailing companies that had already been operating for maybe a couple of years. So, there was a regulatory solution. Then from there forward, I think the key thing that you learn while doing a Ph.D., and I can’t say that transportation is exactly the brain. This van-based transportation exists all over the world. I’ve been doing marketplaces for about ten years now. And there’s nothing against it. In fact, a couple of our investors told us, you are going to have to raise 100 or 200 million, and you’ve never raised any money before, so we’re not sure you’re going to be able to, so maybe we’re not going to invest because you don’t have a track record of raising any money. How did this come about? We had quite a lot of people once we started the service in New York, and we were fortunate to be running the service not only in New York, but in Manhattan, and in the Upper East Side in Midtown Manhattan. I wasn’t quite sure what I wanted to do. Now Uber was extending through the app, and we would like to do the same, but we would like to do something completely new. : Right. : You know, today, the business has really evolved, and in some sense, it’s come back full-circle because when we first had the idea, we thought we’re going to build the software. So then, you come to do your studies at Stanford. : We’ve raised, at this point, about 450 million dollars for Via. Like, not only you have this marketplace thing, but you guys were also dealing with the challenge of being like in a regulated or a space that has a lot of attention from regulators. Then, obviously, throughout Manhattan where there are a lot of investors. We assumed that only about half of them would actually give us the money. That’s very important to us these days where we can leverage our technology, our software, our professional expertise, not only to run our own marketplace but also to help cities improve their public transportation system. So, we decided to launch our own service. That’s the only marketplace we’ve built, so we don’t have experience with other marketplaces, but I would say that helped a little bit. During the week I was working at D. E. Shaw Research as did Oren. We love it. Alejandro: Amazing. If you have engineering skills, it’s great to find a business person or vice versa. Europe's leading provider and developer of demand-responsive public mobility solutions. We basically converted them, you know, the most expensive limousine into a bus, which was interesting. View the profiles of professionals named "Daniel Pepper" on LinkedIn. I’m in New York where we decided to launch the business initially, launch the service. So, when you think about the market for on-demand mass transportation where you’re booking a seat, and the vehicle that you’re in is a little bit larger than your standard car, and it’s shared by multiple passengers, and you’re really trying to build a dynamic bus that compliments the existing public transportation system whether it’s the subway, the tram, the light rail, and the high-capacity bus rounds, and perhaps replaces the under-performing low-utilized bus routes. Most days, we knew where our priorities lay, and that was with just trying to convince as many drivers as we could to come on our platform and provide this service. S kind of like chicken and the algorithms into biology world ’ s the most luxurious limousine that you find... A struggle to get enough of these investors that you have engineering skills, it was exciting exhausting. 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