12 December 2019

Introducing “Out of Office,” A New Show From Bloomberg Live

1Frameworks

9Insights

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Frameworks in this episode

Strategy5 steps

Decide, Monitor, and Adjust

Make a decision, watch the results, and correct course quickly

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Insights & moments

The myth-busts, hot takes, explainers, and tools worth keeping.

Hot Take· 1

Hot Take03:15

London's Real Competitors Are New York and Asia

Richard Tice argues that London remains an attractive location for European financial-services headquarters. In his view, the city's meaningful competitive threats come from New York and Asia rather than Frankfurt or Paris.

London remains competitive for financial-services headquarters
The relevant competition is global rather than merely European
Tice dismisses Frankfurt and Paris as London's principal threats

“The threat to London is not Frankfurt or Paris. The threat to London is New York and Asia.”
Richard Tice · 03:41

#london#finance#competition#brexit

Explainer· 1

Explainer12:52

Why Tice Moved From Business Into Politics

Tice presents his political involvement as a form of public service after roughly 30 years in business. He believes government would perform better if it adopted the lean management and operational discipline of a well-run company.

Tice had a longstanding interest in politics
He wanted to contribute to public life after a business career
He favors lean and efficient management
He applies a business-management lens to national government

“If the country was one as well as a well managed, lean efficient business, then frankly would all be in a much better place.”
Richard Tice · 13:14

“I always said to myself, I'd want to do give will take thirty years in business and then try and give something back to public…”
Richard Tice · 13:24

#politics#public-service#business#management

Story· 4

Story03:48

How a Family Property Background Became a Career

Tice describes entering property as a natural extension of his family's involvement in the industry. He says his enthusiasm came from planning, designing, and creating buildings, culminating in leadership of a listed multinational property company.

Several members of Tice's family worked in property
He was attracted to the creative process behind buildings
He identifies leading CLS Holdings as a career pinnacle
A major Vauxhall development included two 50-storey towers

“I love the attraction of buildings, planning them, designing them, creating them.”
Richard Tice · 04:06

“for me the pinnacle was was when I was chief executive of a London listed multinational billion pound company”
Richard Tice · 04:14

#property#career#real-estate#leadership

Story05:26

How Tice Positioned His Property Business Before the Crash

Tice recounts recognizing danger before the 2008 financial crisis through market excesses such as amateur speculation, implausible prices, and loans exceeding property values. His business reduced staff, outsourced operations, eliminated debt, accumulated cash, and later bought distressed bonds and property near the market bottom.

Widespread amateur speculation indicated an overheated market
Banks were lending more than 100% on commercial properties
The business reduced its workforce from 100 people to 15
Cash and no debt created resilience when recession arrived
Tice later bought mispriced bonds and more than £200 million of real estate

“just gut instinct, pure gut instinct.”
Richard Tice · 05:52

“by the time the recession hit, basically the business had a parlor cash and no debt”
Richard Tice · 06:50

#financial-crisis#real-estate#risk#investing

Story10:03

What Tice Learned About Plastic Pollution From His Son

Tice says political discussion with his children includes both agreement and disagreement. He recalls his second son using experiences from a gap year in Asia to educate him about discarded plastic, polluted Vietnamese beaches, and the Pacific garbage patch.

Political disagreement is part of the family's discussions
Tice was willing to learn from a younger family member
Direct observation made plastic pollution tangible
Intergenerational conversation changed his understanding

“it was my my second son who helped educate me”
Richard Tice · 10:25

“that was really really educational for me. I was very grateful for that.”
Richard Tice · 10:46

#family#environment#plastics#learning

Story14:28

The Personal Cost of Taking a Public Position on Brexit

Tice says Brexit damaged some relationships in London's business community and exposed him to intense abuse on Twitter. He avoids reading much of the abuse, although it affects his children, and contrasts online hostility with supportive encounters in public.

Political advocacy strained relationships in the business community
Public visibility attracts anger and abuse
Tice avoids dwelling on hostile social-media responses
His children find the criticism more upsetting
Support from strangers provides a counterweight to online hostility

“if you put your head about the parapet, you know, the grief, the angst, the victory old comes. It comes over in bucket loads.”
Richard Tice · 15:13

“what is great actually is when people on the street just come up and say thank you so much”
Richard Tice · 15:35

#brexit#criticism#resilience#social-media

Takeaway· 3

Takeaway08:19

Poor Grades Did Not Predict Tice's Career Interests

Tice candidly discusses weak A-level results in politics and mathematics alongside a strong economics grade. He attributes the outcomes to failed revision, a difficult teacher relationship, and differing aptitudes, while noting that his interests in economics and politics persisted.

Tice received low grades in politics and mathematics
He accepts responsibility for mishandling his politics revision
He believes people can encounter aptitude ceilings in particular subjects
Economics became a durable professional interest
His interest in politics survived the poor exam result

“I just messed up the revision on politics.”
Richard Tice · 08:40

“But economics was really you know, I loved it, and in a sense that interest is what sort of driven me ever since.”
Richard Tice · 08:58

#education#career#economics#politics

Takeaway10:52

Why Tice Wishes He Had Networked Earlier

Looking back at age 20, Tice says he wishes he had talked to more people and built a stronger network sooner. He contrasts social media's networking reach with its weakness as a substitute for real conversation and says useful relationships compound throughout a career.

Talk to many different people
Social media does not replace direct conversation
Shyness can prevent useful introductions
Professional luck can be increased through deliberate connection
A network makes it easier to seek help and exchange knowledge

“Networking just keep talking to lots of people.”
Richard Tice · 10:59

“you you make your own luck. You've got to make your own networking.”
Richard Tice · 11:22

#networking#career#relationships#communication

Takeaway16:43

The Three Words Tice Uses to Describe Himself

Asked to describe himself in three words, Tice repeatedly chooses optimism. His answer frames a glass-half-full outlook as a defining part of his identity rather than a temporary reaction to circumstances.

Tice identifies strongly as an optimist
He defaults to a glass-half-full interpretation
Optimism serves as his concise personal description

“I'm an optimist, the glass is always half full, it's never half empty”
Richard Tice · 16:48

#optimism#mindset#identity