Greetings Broadcat Community:
I recognize that I have been a bit quiet since having acquired Broadcat in late December. I’ve been thinking about you a lot lately, and it’s probably about time I introduce myself. I’m Alex, the new CEO of Broadcat. I’m thrilled to be here, and it’s not just because I get to work with an amazing team and supportive customers who believe in our cause (although those are two very awesome things)!
Actually, it would be more accurate to say I feel compelled to be here because I get the problem that we’re trying to solve at Broadcat – it’s one I’ve had to deal with my entire working life.
Compliance as punishment
The year was 1993; I was 16 and fresh off my first job at the local car wash in Del Mar, California. My older brother had recently started a job with Video Vault, a mom-and-pop video rental store in our only strip mall; his only responsibilities seemed to be eating popcorn while watching Spaceballs on repeat. 🍿
Coolest Winnebago ever.
Naturally, this was the job for me! In the spirit of brotherly competition, I applied and was hired at the local Blockbuster… and soon would have my first experience with the drudgery of compliance training.
I also had my first experience with soul-crushing corporate concepts, like “If you have time to lean, you have time to clean.” 🤢
One day, I showed up to my shift 15 minutes late (blame it on being a dumb teenager 🤷♂️). Upon arriving to work, I was called in to a 30-minute meeting with a manager to document my reasons for my tardiness, followed by a 30-minute training video on important company values. And then I was allowed to clock in. The irony is not lost on me that training was so bad the company actually used it as punishment.
Thus began my 30-year run as a consumer of crappy compliance training material.
I used to pay lots of money for awful training
Fast forward a few years (and degrees and certifications) later, and I became the CFO/CCO for a rapidly growing broker-dealer. I hired compliance consulting firms to train investment bankers on concepts often applicable only to bank tellers.
Why is this?
"Because you have to check all the boxes in order to be legally compliant." our firm was told by consultants, attorneys and regulators.
So…yes, we checked all the boxes. And it was a huge waste of time, money and focus – full stop. To this day, compliance training has changed mostly in media diversity and somewhat in production value, yet the overall tone and content often remain condescending, cynical, and irrelevant.
The Meet-Cute, or how I found Broadcat
I spent the last decade advising entrepreneurs on scaling and selling enterprise tech and information services business, which is how I got to know Ricardo: as a consultant to Broadcat. We met in February 2021 and began working together about a month later.
Besties.
I was immediately drawn to the brand and its accessibility. Like many others, I appreciated Broadcat’s irreverence and distinct brand voice. It wasn’t until a few months later when I read Ricardo’s seminal book, “Why most compliance training fails (and how to fix it),” that I began to better understand the methodology and conceptual framework that drives Broadcat’s approach to compliance.
Ultimately, Ricardo decided to sell the business to me and a group of investors. He has been an incredibly supportive partner and friend throughout the process, and he'll be a key advisor in our plans to propel Broadcat forward while upholding its stellar reputation within the industry. 🌟
The Future of Broadcat
Here is what I think is important for our loyal Broadcat customers and supporters in the E&C community to know about the company:
- We are remaining true to the concepts that you love about Broadcat: explaining complex compliance concepts in a simple, business-focused way.
- We have spent the last few months adding to the bench by bringing on compliance subject matter experts including Jennifer May (an absolute rock star who successfully navigated both a federal Corporate Integrity Agreement and an NCAA major infractions case) and Brianna Rice (a former enterprise customer with a Masters in Compliance). The team is psyched out of its mind right now, and we’re still in hiring mode; let us know if you want to join the cause by emailing careers[at]thebroadcat.com.
- We’re working on some next-level stuff! We’ve got big plans for our content, service and technology offerings to bring even more value to the compliance teams we support. Email me at alex[at]thebroadcat.com if you have capital-T Thoughts on how we can make this happen.
But look, if you want me to break this down OG-Broadcat style, then here it is – we are INVESTING in the business, not HARVESTING the business. We are partnering with customers and thought leaders to advance our content and platform roadmap. This is your invitation to join the conversation.