How this CEO tackled his own financial woes
You may know Phil Schraeder as the innovative CEO of GumGum, a cutting-edge AI digital advertising firm that’s changing the way brands connect with audiences. But before rising to leadership in a challenging industry with a focus on diversity and inclusion, Schraeder navigated his own financial hurdles, including a life-changing experience on the game show “Are You Smarter than a Fifth Grader?”. In this week’s episode of Living Not So Fabulously, Schraeder joins hosts David & John Auten-Schneider to discuss his journey from employee number 10 at GumGum to its CEO, where he led the company to secure $75 million in funding during the pandemic. He reflects candidly on his past struggles with debt and the pressure to fit into a certain lifestyle. "I was in debt, and I needed to figure out how to get out," he recalls, humorously sharing how his victory on the game show helped him turn his financial trajectory around. Schraeder also emphasizes the importance of using AI responsibly in advertising, advocating for technology that respects privacy while fostering meaningful connections with consumers. He passionately discusses his commitment to creating a workplace where diversity, equity, inclusion, and belonging are more than just buzzwords—they're integral to the company’s DNA. His story underscores the idea that genuine connections—both in business and in our personal lives—are vital for success. Phil’s journey serves as a reminder that lessons learned from financial challenges can lead to transformative opportunities, paving the way for both professional growth and personal fulfillment. For full episodes of Living Not So Fabulously, listen on your favorite podcast platform or watch on our website. Yahoo Finance's Living Not So Fabulously is produced by Austin Rivera.
