Navigating Global Business Landscapes: Insights from Steven Yeo, Founder of Yang & Co.

In this episode, we sit down with Steven Yeo, a senior leader in international business expansion and founder of his own consulting firm, Yang & Co. With a wealth of experience and a background in angel investing and advising startups, Steven shares valuable insights into his journey and approach to mentoring executives.

Prior to founding his own firm, Steven held senior leadership positions across numerous companies, including serving as the CEO and board member of TD Tech China, a joint venture between Huawei and Siemens, the APAC president of Ingersoll Rand, the China Managing Director of Johnsons Control as well as the regional CFO of Siemens AG.

In this episode, we discuss:

• Steven’s inspiration behind starting a consulting firm
• The importance of spending time with people and prioritizing relationships
• His principles for working with clients: integrity, transparency, and compassion
• The importance of senior leadership sponsorship in market expansion
• The significance of having the right team in new markets

Tune in to this episode now!

Links:

Bluente's Website: https://www.bluente.com/

Steven’s LinkedIn: https://www.linkedin.com/in/steven-yeo-51232217/

Our Socials: @bluente.official (Instagram and Tik Tok)

Transcript

Daphne (Host) | 00:00:06 to 00:00:54

Welcome to another episode of Business Beyond Borders. Today we are very excited to have with us a distinguished guest, Steven Yeo, a senior leader with extensive experience in international business expansion. Stephen is the founder of Yang & Company, a strategy consulting firm focusing on partnering their clients in help them in their regional or global expansion. What truly sets Steven apart is his extensive network of experiences that he has accumulated over the years, as well as his in-depth understanding of numerous markets, including navigating the intricate landscape of China and Chinese businesses. This is built on his impressive track record holding senior leadership positions across numerous companies, including serving as the CEO and board member of TD Tech China, a joint venture between Huawei and Siemens.

Daphne (Host) | 00:00:55 to 00:01:32

The APAC president of Ingersoll Rand, the China Managing Director of Johnsons Control as well as the regional CFO of Siemens AG, working across numerous cities including Munich, Bangkok, Beijing and Shanghai. Beyond his extensive experiences, his experience also extends to the venture capital space where he was formerly a partner at Zhitou Capital and is also currently an angel investor, an advisor to numerous startups across both the United States as well as China. A wealth of experience that we definitely can learn from. So very excited to have you here with us, Steven.

Daphne (Host) | 00:01:32 to 00:01:44

Welcome to today's episode. Thank you for having me. Thank you. Maybe we can kick off with your most recent experience, starting your own strategy consulting firm. What inspired you to start this consulting firm?

Steven (Guest) | 00:01:45 to 00:02:55

Well, my career spans over three decades, and it has taken me to multiple countries across different continents. And I've been truly blessed that over these years, I've had a number of great bosses who have mentored me and had seen me grown through my career to take up senior roles. While I was in China in 2007. After being in the corporate sector for 20 years, I decided to launch my own consulting and actually at that time, leadership development company to work with companies and help their mid to senior level executives attain more experience and gain directly from my mentorship of them to succeed in their various fields. Okay, and how does your day to day role at Yang & Company look like?

Steven (Guest) | 00:02:56 to 00:04:12

Well, truthfully? Well holding podcasts and so on. But joking aside, a typical day when I'm on a project, there's always kind of a rule of thumb for me is to spend at least 70% of my time with people and on people, because people is always foremost in any business. So my business, even though the mission statement states that we are a strategy consulting company working with clients to penetrate regional or global markets, I want to always place people first. So 70% of my time, I'll be either networking, building up my future strategic network, or doing a lot of one on one with the key stakeholders from my client's side. And the rest of the time, I'll be actually be sitting quietly and plotting out what we have to do next shortly or summary wise, we will call it the strategic blueprint.

Daphne (Host) | 00:04:13 to 00:04:32

Okay. And interesting that you mentioned, I mean, there's a lot of people management work in the course of work that you are doing. What are some of the principles that you uphold when you are working together with the key stakeholders, which are also your clients as they move to different regions and also different countries? Right.

Steven (Guest) | 00:04:34 to 00:05:41

One of my first big boss who was extremely successful at a very young age for a German, he told me that, be true to yourselves, uphold your own values, and it will never fail you. Even in the area of consulting, I've always continued to apply these same principles of my own values. Number one is, of course, integrity that I always hold dear to my personal values of honesty, transparency, and impartiality, and especially dealing with clients from multiple regions or countries. A second principle for me, as I have always mentioned, people being first is my value of developing a strong relationship with the people I work with, especially my mentees, through my principle of compassion. Care and compassion for people.

Steven (Guest) | 00:05:41 to 00:06:07

All right. Your clients range from both Fortune 500, MNCs, all the way to SMEs as well. Different sizes. How do you tailor your approach to working with clients of different sizes, building on the principles that you have mentioned? Yeah, with multinationals, the organizations are much larger and complex.

Steven (Guest) | 00:06:09 to 00:06:19

Extremely important before we get into the nitty gritty of consulting work is always to have a very strong project champion.

Steven (Guest) | 00:06:21 to 00:06:54

Hopefully not hopefully, but most of the times. I would kind of insist that a very senior executive at the top management level be a project sponsor. This will be a key success factor for the project, different from working with the SMEs. For the multinational, usually a project team will be working in a matrix relationship with a lot of other teams. You know, MNCs have multiple teams running different topics simultaneously.

Steven (Guest) | 00:06:55 to 00:07:50

You have to work with them, collaborate with them, and usually the team members, we will have people across different functions, subsidiaries or even countries, regions involved. For SMEs, things are a little bit more straightforward. Usually my mandate-giver are the CEOs or the chairman of the SMEs, and they will usually be one of the core leaders of the project working group. And we want to ensure that for success and optimal allocation of resources and that top management support is given, we always have a minimum of three to five of the senior management team involved in the project itself to ensure success. Very important.

Daphne (Host) | 00:07:50 to 00:08:30

Correct. Because you need to have the senior leadership sponsorship so that the project can be seen through and go through the entire process. And in helping them with their expansion to new markets, what is your personal belief to be the most important? Yeah, when I'm talking to or discussing with the CEOs or even the senior leader of a multinational company. The first question or the first challenge we always have to resolve when moving into a new market is do you have the right people currently in your team?

Steven (Guest) | 00:08:31 to 00:09:38

If nine out of ten times we will come to the conclusion the answer is no and how do we move on to achieve getting the right people in the team is itself also part of my science of consulting. I mean looking at sports, you look at the Formula One that was just concluded in Singapore. How amazing for us is that a lot of us can't even change punctured tire, right? Let alone changing all four tires in the car for car in less than 3 seconds. So you have the right processors, you have the technology, you have the best equipment, ultimately you need the best people doing the job, each one with precision and each one knowing how they support each other and doing the work. 

Daphne (Host) | 00:09:38 to 00:10:04

And building on this point, what then makes the right mix of people as they think about international expansion? Is it having the right local person? Is that considered necessary? Or is it someone who understands the market well enough but also needs to have that in-depth understanding of the business? Yeah, that's an excellent point that you just made.

Steven (Guest) | 00:10:07 to 00:10:55

When we enter a new market or I consult and advise companies to enter a new market, the people relates to the whole cultural perspective of operating successfully in the new business environment. So you want a team that is pretty innovative, a bit of people who are risk-takers. On the other hand, you want to ensure that there is good corporate governance processes are being established and being adhered to. So you need to have a mix of such cultural traits and personalities in the team. There's no hard and fast rule.

Steven (Guest) | 00:10:55 to 00:11:07

Different markets have different requirements and are very different. The needs are very different. So there's no one size fits all solution.

Daphne (Host) | 00:11:11 to 00:11:50

Building on different markets being know different nuances. You have led companies across many countries including China, Thailand, Germany. How have your leadership experiences across these countries really shaped the perspectives that you have today in building business strategy for your clients and also how has this shaped the way you choose and also provide advice to them? Right, I'm going to go a little bit on the macro level. Macro level because each country entails a lot of cultural and business specifics.

Steven (Guest) | 00:11:50 to 00:13:17

So on a macro level, let me reiterate that for each country, whether is it Germany, Thailand or China, I always go and run the business with a very open mind, with a very open mind, open and acquisitive mind, inquisitive minds always willing to learn, learn about the culture, learn about the business practices there. Secondly, I would say that when I work with my clients it is very important that they are not operating within their own silos. Our consulting project might be time defined, objectives defined very specifically, but I need to make them aware that the interdependency of all parties in the supply chain, whether upstream or downstream, with my clients sitting somewhere in the middle, is extremely critical. The interdependency. And I've gained this experience from walking across different countries through my different roles, and therefore I am in a good position to advise my clients on this.

Steven (Guest) | 00:13:17 to 00:14:31

Adding to that, I believe in this current environment where technology is evolving so rapidly, it is critical for all my clients, especially the SMEs, to enhance their technical engineering and software prowess. Why do you say that? Yeah, and before I reply that especially in the area of artificial intelligence, because the business landscape is changing so rapidly. It used to be that when we look at the Moore's Law of computing, the way microchips have been advancing, it was already quite tough for certain companies to keep out and to even survive, especially for the SMEs. With artificial intelligence and the rapid impact it has on all sectors of the value chain, jobs will be redefined.

Steven (Guest) | 00:14:31 to 00:15:15

Many will be completely eliminated. Plus industry will also be reshaped according to who are the front runners, who possesses, I would say, the intellectual properties, and eventually, who has the critical mass in terms of consumer data accumulation, data analytics and so on. Okay, okay, yeah, that makes a lot of sense. And I want to dive deeper into your experiences in China. I think you have spent quite a significant amount of time there and definitely would have a lot of insights to share, holding significant leadership positions across different companies in China.

Daphne (Host) | 00:15:16 to 00:16:08

What are some of the most valuable cultural insights that you have gained or gleaned from working in the Chinese market? Yeah, I've been fortunate. I went to China at the end of 1998, so I've witnessed the tremendous transformation of China since then, and especially with its entry into WTO, the World Trade Organization in the year 2000, China has transformed itself tremendously. And what struck me most about its cultural traits and of course, I'm not going to talk about eating hairy crab or celebrating Chinese New Year in China with all the firecrackers and so on. You know, these are not allowed in certain countries like ours.

Steven (Guest) | 00:16:11 to 00:16:14

These are the fun events to really have.

Steven (Guest) | 00:16:17 to 00:17:20

Back to your question is, over these 20 plus years in China, I've seen how the economy has evolved from basic infrastructure build up to currently where China is actually advanced in a lot of data, software and new tech areas, especially in green tech. So what do I draw from this is that to share with you guys is that the Chinese people, and especially the younger generations the younger generations I'm referring to not just the fresh graduate, but people who are in their mid twenties to the early 40s. These are the younger generations now rising up in the hierarchies of the state owned companies, in the private enterprises, and also in the multinational companies that employ them. They are extremely entrepreneurial. Extremely entrepreneurial.

Steven (Guest) | 00:17:21 to 00:18:16

I have coached and mentored many young executives over the last two decades. If I go back and I did go back and look at the name list, three out of every ten that I have mentored in the past have become entrepreneurs, have become entrepreneurs. They all want to take charge of their own destinies, become their own Lao Ban, become their own Lao Ban, their own bosses. And the Chinese workers and employees are extremely adaptable, agile, and are fast learners, especially in the new high tech arenas. If you look at the artificial intelligence area, green tech, renewable energies, electric vehicles, they are extremely advanced.

Steven (Guest) | 00:18:16 to 00:18:51

Extremely advanced. Building on that, in terms from a business perspective, they are looking to expand to China as a market. And I'm sort of generalizing it a bit because China is a very big market with a lot of different nuances across different cities. What are some of the things that would be important for them to consider as they think about establishing partnerships, finding partners to work with in a country like China? First and foremost, leave your tinted glasses at home.

Steven (Guest) | 00:18:51 to 00:19:11

Leave your tinted glasses at home when you go into a new country, and especially a country like China, and the Chinese are inherently correct to say that they are a country with one of the longest civilizations of at least thousands of years. Thousands of years.

Steven (Guest) | 00:19:14 to 00:20:24

We need to go there with a very open and inquisitive mind, willing to learn from them and expecting that there will be many things that actually we from outside China might find uncomfortable at the beginning, but through understanding and working with them, it will become part and parcel of operating the business. But I still have to emphasize that when we run businesses and when I advise companies even operating out of China, the Chinese entities, we adhere to the principles that we talk about of integrity, transparency, impartiality and honesty. What is different here is that especially working with the Chinese here, and I had a fair bit of experience running Sino-foreign joint venture in China, first and foremost is to establish trust and deliver credibility through performance. The Chinese people always respect performance. Okay.

Steven (Guest) | 00:20:25 to 00:21:17

他很重视成绩。And of course, when both parties want to work together, it's very important to have clear alignment of goals. And when you have clear alignment of goals, and we, as a non-Chinese entity, or even as a Western entity or partner moving in to work with them, make sure that whatever we can add value to this partnership is put up front on the table. Okay? Yeah. And like with my joint venture partners, we began to gain a lot of traction after, I would say, the first six to eight months of the 磨合 - adjustment.

Steven (Guest) | 00:21:18 to 00:21:28

Adapting to each other. Correct. It takes time to dance with them. Takes time. But when you start dancing with them, it becomes a very nice dance.

Daphne (Host) | 00:21:28 to 00:21:41

Okay. And what was your most memorable business encounter that you have had with a partner from China? Most memorable? Oh, is that a trick question?

Steven (Guest) | 00:21:44 to 00:22:38

Well, the most memorable was back to my Chinese joint venture partners in Shanghai. At that time, when I was running the Siemens Telecom business then, the Chinese joint venture partners, they had two representatives on the Joint Ventures Management Board. So when we first knew each other, we had a very formal relationship. Very formal relationship. So years later, when I was headhunted to go lead an American company, Johnson Controls, so I was handing over, and then we had our farewell dinner.

Steven (Guest) | 00:22:38 to 00:22:45

So our Chinese joint venture partners, very heartily and with a lot of warmth.

Steven (Guest) | 00:22:47 to 00:24:01

Actually, one of them was a little bit teary eyed to see me leave, not just because we have become great friends over the years, over the four years of partnership, but also we had very open, trusting, and sincere communication and understanding of each other and mutual respect for each other. I would count as one of the most memorable moments that I had in China. And how do you continue to maintain and build on the relationships that you have built over the many years of experience working there? Yeah. So even with the joint venture partners and other business partners, including suppliers, clients, it's always important to treat each party or each person as a personal friend, as a friend that you see a relationship evolving not just from that particular business transaction, but evolving into one where you share common values, where you even have common hobbies.

Steven (Guest) | 00:24:01 to 00:24:35

Your common hobbies. And of course, as a business person, one of my hobbies is golf. And it's a great bonding with clients, with suppliers, with even my mentees, the young people that I mentored in the past. So when I get back to China, it's always good not just to have a meal together and to have a lot of open-hearted discussions with them, but also to enjoy a round of golf together. That's amazing.

Daphne (Host) | 00:24:35 to 00:24:37

And then you exercise at the same time.

Daphne (Host) | 00:24:40 to 00:25:06

And maybe one last question on the topic of China. Is that as you think about or for companies looking to expand to China, what advice do you have for them in terms of how to select which cities they should enter with as a launch pad? Yeah, I believe this question would be placed really high on the checklist, I would say 15, 20 years ago. Okay.

Steven (Guest) | 00:25:06 to 00:25:27

Right. Currently. Now, should you move into China, the question would be I would tie your question to which industry are you in? Okay. And then you look at the I would say the ecosystems, the hub of the ecosystem of this industry.

Steven (Guest) | 00:25:28 to 00:26:08

If you are looking at high tech startups, technology related to semiconductors, electronics and all, and software development, you are looking at cities like Shenzhen, yeah, of course, Beijing. And then if you're looking at FinTech area and all that. You're looking at Shanghai and maybe even Tianjin. And in the renewable energies and EVs, they are kind of spread out all around the countries. Even electric vehicle, one of the leading EV manufacturer is based in Anhui province.

Daphne (Host) | 00:26:08 to 00:26:25

Yes. Anwei province. Yeah. So that will be the question I'll look at. And my advice also to foreign investors is never choose a location where your expatriate managers believe they're going to be the most comfortable.

Steven (Guest) | 00:26:25 to 00:27:02

That will be the wrong way to start your business in China or in any other country, right? Yes. Now, moving on to the other roles that you have held as a former partner at Zhitou Capital previously and also as angel investor, you have been involved in the growth of numerous startups and also earlier you alluded to having mentees who turn out to be entrepreneurs. What key practice do you consider when actually evaluating potential investment opportunities and across the different regions that you have made investments in? Both United States, China, do you see any differences in the startup landscape?

Steven (Guest) | 00:27:02 to 00:27:54

Yeah, well, we did the investments in the high tech startup all the way, I would say up to the pre-COVID period just before COVID struck. And then COVID is another stage now. I would say when we look at a business proposition from the startups on the table, basically I do not go through the PPT deck immediately. Okay. As I say, in my typical day, I will spend 70% of my time on people-centric activities, having dialogues, networking and really just talking to people and learning about them.

Steven (Guest) | 00:27:54 to 00:28:24

So so key foremost is who the founder is, what sort of personal values or core values he and his core team have. Right. Because I want to work with a partner who I can trust as a friend. Trust as a friend. And of course, the analogy some people might find amusing, some might find like exaggerated.

Steven (Guest) | 00:28:24 to 00:28:42

But I'll say choosing a partner to invest in is like choosing your future spouse. Yeah, that's very true. Don't you trust your husband with your money? Yes, 100%.

Steven (Guest) | 00:28:46 to 00:29:31

I'll tell that to him next time when I see him. That is foremost on my mind that I need to check it out. A second checkpoint will be do they have their own capital in play or are they trying to raise funds and they do not even have their own money on the table. Now, why I got involved way back was exactly here is that the two founding co partners, husband and wife team? The husband was my mentee of eight years, so I knew him very well.

Steven (Guest) | 00:29:31 to 00:29:55

His character, his personality. They actually sold two of their properties in China and invested the proceed in launching the startup. So I like, hey, 没有退路, there's no backing off. We are in this. You guys are in this for the long haul.

Steven (Guest) | 00:29:55 to 00:30:28

So these are people that we look for when we invest and then when these questions are well answered, then I start looking into the value proposition here. And the value proposition for me, the key point is, is it a unique value proposition. In Chinese, we say 独一无二. Are they doing something that is so unique, so irreplaceable, so indispensable? All right. Okay.

Daphne (Host) | 00:30:29 to 00:31:36

To the second question regarding startup landscapes across different regions, are there any unique differences that you've observed, especially across United States and China? Well, on the US sector currently, I'm only involved with one startup currently involved with one, so I can't comment too much on the US side at this moment, I would say an observable key difference would be that the Chinese startups pre COVID, especially in the areas of robotics, big data, and given the size of the Chinese domestic market, we can come on to the topic of Singapore in the future, is that with our 5.5 million population here in Singapore, a greater Beijing metropolis we are really looking about 22-23 million people.

Steven (Guest) | 00:31:37 to 00:32:20

So the type of data analysis and data, so called compilation that the Chinese companies and startups can do with their data is just humongous in China. And this actually drives up the valuation of the Chinese startups pre COVID days. Drove up. So that will be a very big difference compared to the US startup to the extent that actually a lot of funds, even from the west, were very active in China back then. Okay.

Daphne (Host) | 00:32:20 to 00:32:33

And with that, we wrap up the English segment of today's episode. I will now move on to the Chinese rapid fire questions. 我们现在进行中文的快问快答的环节。那我就先问个问题，就是您能用中文介绍一下自己吗？

Steven (Guest) | 00:32:39 to 00:33:07

可以可以。那我本人是土生土长的新加坡人，我英文名是 Steven,  中文名是杨薏浩。86年新加坡国立大学毕业之后就出国工作，在国外工作了30多年，疫情之前，在2019年尾就回到新加坡。

Steven (Guest) | 00:33:15 to 00:33:45

所以那个30多年离家在外，我在新加坡有很多外籍朋友，我认为他们对新加坡还比我熟呢。尤其哪的餐馆有好吃的这些，他们还比我熟。

Daphne (Host) | 00:33:53 to 00:34:01

对，你刚才说你从86年就开始出国工作了，那在中国也是待了一段时间，在中国工作的时候最让你印象深刻的文化洞察是什么？

Steven (Guest) | 00:34:03 to 00:34:54

中国，尤其她的年轻人，有很强的学习能力，和有适应新环境的这种灵活性，即自创和自己更新的这种决心。所以咱们可以在这种新高科技领域能看到，尤其在 EV 这种，还有新能源这些行业。

Steven (Guest) | 00:34:59 to 00:35:22

那你最近也是，你现在就是创办了 Yang & Company, 在创办这个公司的时候，你最大的挑战是什么？那初期最大的挑战肯定是把战略的方向定好，还有获得客户的认同和接受。但比较庆幸的呢，就是我初期阶段的客户都是行业领袖朋友推荐的。那就很好，就是爷刚才在英文的那个播客的时候也是谈到，对于你来说，做生意的时候，信任非常非常重要。以信任为基本的话，那就能够有很多人帮忙你有那个 word of mouth 的referral。

Daphne (Host) | 00:35:24 to 00:35:45

对那这 word of mouth referral 就是口头上的推荐。

Steven (Guest) | 00:35:48 to 00:36:32

这方面也这样把我这个企业从 07 年，那时候在北京创办的，那时候叫 Yang Alliance，就杨联。那我回到新加坡之后，在新加坡创办了那个 Yang & Company, 中文名也是杨联。因为杨也是我的名嘛，对不对，我姓名。

Daphne (Host) | 00:36:39 to 00:36:40

那作为一名战略顾问，你和不同的企业已经帮他们推进区域，然后也是帮他们走一个全球扩张，国际化的计划，那你认为就是对于他们这些方案的话，最大的机遇和挑战是什么？

Steven (Guest) | 00:36:43 to 00:36:46

这方面可能我们有限制这段时间，没办法进入太细节的话题。

Steven (Guest) | 00:36:56 to 00:38:00

所以这方面我想抓几个亮点，尤其在这几年这个国际市场变化从宏观角度来看这件事，如果要推区域化，全球化，国际化的业务。目前我看到两个大商机，或者机会。第一个就是，咱们在东南亚，东盟，ASEAN，具备了很好的条件，所以下来这几年能明显看到我们这里这大区域的经济增长会特别有吸引力。那第二个就是，很多人把它称为第二个中国，

Steven (Guest) | 00:38:00 to 00:38:04

我认为它可能会变成第二个中国，

Steven (Guest) | 00:38:12 to 00:39:00

但它可能也会走他自己一条路，那就是我们的大邻居，印度。所以印度也下来这十几二十年会迅速地增长。他最大的很特殊的，具备了一个很特殊的要素，就是他总人口，年轻人占总人口的比率很高，尤其低于 30 岁年轻人占他总人口的比例大概也超过30%-40%。 挺多的。所以他未来的创新、更新，还有那个

Daphne (Host) | 00:39:03 to 00:39:15

整个市场推动这方面就有他自己的一种节奏。那最后一个比较有趣的问题，你本身会说几种语言呢？在语言这方面你如何保持你的语言能力？

Steven (Guest) | 00:39:18 to 00:39:55

我高中毕业后就开始学德语，开始学德语。那学习德语打开了在德国职业生涯的大门。那时候我就有了这个机会进入了西门子其实。除了英文、中文和德文之外，我还会一点点泰语。

Daphne (Host) | 00:39:57 to 00:40:03

那就好像根据你居住的国家就学习了这些语言吧。

Steven (Guest) | 00:40:07 to 00:41:23

我太太昨天还在笑，因为我们这前三年，就是这个隔离放开之后，就疫情隔离放开之后，我们去了西班牙两次。尤其南美洲还有西班牙，一，地方很漂亮，二，人，当地人很善良，很友好。所以是一个真正的很有吸引力的旅游胜地。如果我真的还有时间的话，我还想好好的学一点西班牙语。挺好的，就是现在也是一直学习当中。就活到老学到老。你不老啦。那今天的播客就到此为止。就非常感谢 Steven 今天抽空跟我们分享你对于中国，还有你在不同的国家居住的经验，也是对于企业要扩张到全球的计划有什么不同的建议也对于我们分享了很多。所以我自己学了很多，所以谢谢 Steven 今天抽空和我们分享。

Daphne (Host) | 00:41:34 to 00:41:58

Thank you so much, Steven, for taking the time to share with us all your valuable insights regarding your leadership principles across leading and advising companies across their global and regional expansion journey. I personally learned a lot from all your sharing, so thank you so much for spending your valuable time with us. Thank you for the invitation and the opportunity to be here with you guys. Thank you. Thank you Steven.

Daphne (Host) | 00:41:58 to 00:42:13

Sihan thank you for listening to Business Beyond Borders. If you have any feedback or thoughts, do write into us at support@bluente.com. Click to follow to tune into the next episode. See you again soon. Bye.