Radio 24 (Il Sole 24 Ore)
Fabrizio’s interview on Radio 24, “La versione di Oscar” with Oscar Giannino
March 22, 2017
Oscar: "Here we are back live and after speaking of this report presented yesterday by the Visentini Foundation about the most dramatic data on the injustice between generations in Italy, we have commented on some proposals in this report with Linda Laura Sabbadini, who is a statistician, and she wrote about it in "La Stampa" today.
One of our listeners who wished to participate in the series ''Italy is not for young people" is an entrepreneur: Fabrizio Fantini, who has a company in London. That’s right, Fabrizio?"
Fabrizio: "Yes, it’s absolutely correct."
Oscar: "Good afternoon, so thank you for writing to us and for being here. Now, are you calling us from Italy or from London?”
Fabrizio: "Right now I'm in London, but I'm in Italy almost every week."
Oscar: "Before anything else, of course I have to ask you about yesterday afternoon.
How's the mood in London today? What’s changed, what impression do you have... It’s about the community with whom you are dealing regarding the events of yesterday."
Fabrizio: "You know London is a very big city. We say that it is clearly an emotionally shocking event, but in practical terms, I see few changes among people and discussions. Clearly, unfortunately, it is an issue that dominates with almost everyone you talk to at the moment, is at the centre of discussions. Even my girlfriend was planning to be there at the House of Commons yesterday afternoon and of course she did not go, so she was particularly shocked."
Oscar: "You are one of those concerned about the Brexit as you are British-born, or not?"
Fabrizio: "No, because after five years of living in London, however, you are entitled to permanent residence or otherwise you can continue working indefinitely, but sooner or later I would like to come back to Italy."
Oscar: "Sooner or later because you, in fact, got a Master’s from Harvard, you worked for 10 years as a McKinsey consultant in Italy - not only in Italy but also in the United States and in England - and then, four years ago you wrote and told me that you had started this entrepreneurial experience, also in order to get close to Italy. Is that correct? "
Fabrizio: "Absolutely Oscar. I founded Evo Pricing, which is originally an English company, born thanks to my wishing to reference the historical roots of my PhD plan, and then I looked in the direction of Turin. In fact, that is the Italian city that I think, at the moment, has the greatest potential for development as regards startups in general, but in particular also in the area of data analysis."
Oscar: "But this Evo Pricing that you founded, what do its activities consist of and what kind of resources in Italy does it select and employ?"
Fabrizio: "What Evo Pricing does is essentially to help Italian companies, and not only them, to be more competitive with automated data analysis. That is, to give you an example, we take internal company data, and then we help them to collect data from the Internet."
Oscar: "I mean, when you say data you don’t mean the budget but a set of indicators that are used by the managers of a company, that is, those that arise from the trend flow week by week, month by month?”
Fabrizio: "And day by day. All transactions and revenues, rather than just the cost items. So, we take just the most granular level of the business life as our data level and we enrich this with external information that, sometimes, in an interesting way we collect not only from the Internet and from well-known places but also from people who work for the company, as well as shopkeepers rather than managers."
Oscar: "Of course this means that your customers must have great confidence in you because one of the classic problems of family control of a business is that often, too often, the manager of a family-run company does not agree to give full access to the data, instead it is very important to have a dynamic and evolutionary interpretation of what is happening."
Fabrizio: "Look, I'll tell you something which I think is even more interesting. In addition to an approach of reciprocal trust and sharing of data, which often I see that companies do not fully understand the potential of, there is an approach to a way of making decisions, that we find reveals a gap between data and tools that are available."
Oscar: "But where did you find the capital to start Evo Pricing?"
Fabrizio: "The capital was born from my previous work as a consultant that allowed me to put some money aside."
Oscar: "In your opinion, would it be equally possible to do this in Italy?"
Fabrizio: "Absolutely yes!"
Oscar: "Ah, absolutely yes, not absolutely not."
Fabrizio: "It is also about the setting up of a company. I set up the development of my company for working and financing me, which is a concept very different from how you manage a startup in the United States.”
Oscar: "But why do you hire professionals figures in particular Italian? Why are you convinced, given the comparative experiment that you did as a business consultant, that Italian academic paths are richer and more educational than others?"
Fabrizio: "Look, I believe in Italy we have so many things, and in Turin in particular. As well as being for me my adopted city it is also a city where there is great scientific excellence. There are two fantastic universities and young talents who really want to work. Then there is stability, because there is less dynamism in the labour market and this is obviously for business a positive factor. It's a young ecosystem that is looking for new ideas and new opportunities with competitive costs."
Oscar: "So, my last question. What advice would you give for young people to orient themselves? What kind of courses and degrees, need to be chosen to be potentially hired by companies such as yours?"
Fabrizio: "Well, I am on the Steering Committee of a course called "Stochastics and Data Science" in Turin which effectively teaches young people how to learn to analyze data, and in this area there is full employment."
Oscar: "Stochastics and Data Science, write this down, dear parents, for your children. Meanwhile, I thank you and I send you my best wishes. Please continue writing to me and telling me how it is going, because we will talk about what you do regarding your company interface, dear Fabrizio.”