(0:00) Welcome to the Tomorrow's World Today podcast. (0:04) We sit down with experts, world-changing innovators, (0:07) creators, and makers to explore how they're taking action (0:10) to make tomorrow's world a better place for technology, (0:14) science, innovation, sustainability, the arts, and more. (0:18) On this episode, host George Davison, (0:21) who is also the host of Tomorrow's World Today on the Science Channel, (0:25) sits down with Jim Levine, founder of Regency Technologies.
(0:28) The two talk about recycling and its crucial role (0:31) in reducing the need for new materials. (0:33) Levine discusses how recycling is often seen as a feel-good practice, (0:37) but is fundamentally about resource efficiency and sustainability. (0:42) In January of 2024, Iron Mountain, (0:44) a global leader in information management, innovative storage, (0:48) data center infrastructure, and asset lifecycle management, (0:52) completed its acquisition of Regency Technologies.
(0:55) Well, we have Jim Levine here. (0:58) He is the founder and the entrepreneur (1:01) who started a company called Regency Technologies. (1:05) And it's quite a large organization today (1:08) that started out of an idea back, well, a little while ago.
(1:13) And you've got, what, about 1,500 employees nowadays? (1:16) Yep. (1:16) Wow, Jim, that's quite an accomplishment. (1:19) Can you walk us back a little bit, (1:21) back in the days when you were first starting out? (1:23) Can you take us back to where the idea came from to start your business? (1:27) Sure, and thanks for having me, George.
(1:30) So Regency Technologies started out of a situation like many small businesses (1:36) where myself and a handful of people were working for a bigger organization, (1:41) and the company got sold. (1:43) And that company was an equipment leasing company (1:46) selling large mainframe computers, (1:49) leasing large mainframe computers to banks and insurance companies and hospitals. (1:54) And at that time I was working for a small division of the company (1:58) that was responsible for remarketing assets when they came back off lease.
(2:05) And when the company got sold, (2:07) that particular division was not part of the sale. (2:10) So this was before the advent of the PC (2:13) became something that we're all familiar with today. (2:15) And that was part of the genesis of the business (2:20) is that it had been changing so rapidly (2:22) and moving away from mainframes and midrange (2:25) and just having what they used to call dumb terminals sitting on people's desks.
(2:29) Probably not a great name at the time, but that's what they referred to them as. (2:34) And essentially the group that I was with, (2:36) which was only about a half a dozen people, (2:39) could see the writing on the wall that things were changing (2:42) and things were moving to the desktop. (2:44) And the individuals in these companies, forget about consumers, (2:48) were starting to use desktop computing (2:51) and there were more and more assets that were coming into the workplace.
(2:56) So we saw a need for logistics, moving these things around, (3:00) either installing them, removing them, forget about data wiping. (3:04) No one was thinking about data security (3:06) and no one was thinking about environmental at that time. (3:09) It was all about monetizing the value (3:13) when that equipment was coming back off lease.
(3:16) So we sort of inserted ourselves into the equation (3:19) as the in-place equipment installation started to grow (3:24) and provided services for big companies (3:26) to move this equipment in and out of their organizations. (3:30) Okay, and that was where you were working for a company at that time that did that. (3:34) Is that correct? (3:35) Well, essentially, yes.
(3:36) It was a division of the company that got sold. (3:40) So that was from 1996 to 1998. (3:43) And by 1998, we saw clearly that we wanted to be in this business.
(3:47) So we formed Regency Technologies (3:49) and pretty much bought that division from the original founders, (3:54) myself and one other person. (3:55) Interesting. (3:56) Yep.
(3:57) So the name Regency existed at that time or did you create that name? (4:01) No, we created that name in 1998. (4:03) And does it have a meaning to you, the word Regency? (4:09) Well, everybody in the computer industry had three letters. (4:13) It was A, B, C, 1, 2, 3, and IT this.
(4:17) And everything sounded the same. (4:19) So we did a little research on names that would sound familiar. (4:24) And Regency kept coming up in the search (4:27) that everybody had familiarity with it.
(4:28) It sounded regal, it sounded important. (4:31) So we said, let's just call it Regency Technologies. (4:33) And to this day, I still laugh because we can remember (4:36) when we were six months old and had no clients and no business, (4:39) we would call on people and they would say, (4:42) oh, we know you guys.
(4:45) That's a good name you selected. (4:47) Yeah. (4:49) Good story.
(4:50) Yep. (4:50) All right. (4:52) So you started this organization.
(4:56) And let's walk it back a little further than that. (4:59) What was going on in your life at that time? (5:01) Was everything just moving along in an easy way? (5:07) Or was there a great deal of complexity in your life (5:10) to work your way through the beginning of your business? (5:13) So like a lot of these stories I'm sure you've heard in the past, (5:17) it was not a straightforward path. (5:20) I had a job, landscape changed underneath my feet, (5:25) had to figure something out.
(5:28) I was newly married for a couple of years, (5:31) had a kid, new house, and a job that was not really, (5:37) I didn't know where it was going to go. (5:39) So it was definitely an uncertain period of time. (5:42) But I definitely had a vision.
(5:45) I could see where things were going. (5:46) I could see what was happening with technology. (5:48) And myself and the group of people that I was working with (5:51) believed that this was going to continue to grow.
(5:54) So we really were committed to sticking with it. (5:57) And like a lot of other entrepreneurs that I'm sure you've talked to, (6:00) when you have that feeling, it really gets into your DNA (6:05) and it takes a lot to try to move you off of that. (6:07) It's not really about the paycheck.
(6:10) It's not about the security. (6:13) It's about figuring it out. (6:15) So back in the earlier days for me, (6:20) 40 hours a week was the amount of hours you were supposed to work.
(6:24) When you were starting up your organization, (6:27) were you working 40 hours a week? (6:30) A lot more than 40 hours a week. (6:32) It was 7 days a week. (6:34) You'd have the 40-hour week routine, but then it was going home.
(6:40) Fortunately, when we first started, I only lived about 8 minutes, (6:42) fortunately or unfortunately, depending on how you looked at it, (6:45) 8 minutes from the operation. (6:47) So it would be play with the kids, put them to bed, (6:50) go back to the operation there on the weekends, (6:53) preparing on Sundays for the next week. (6:56) So yeah, it was a lot of time.
(6:57) One of my mentors when I was a young person in high school, (7:02) he said to me, (7:04) well, George, do you want to be average? (7:07) I said, no, I don't want to be average. (7:09) He said, well, how many hours should you work a week? (7:14) I said, well, I think the work week is supposed to be 40 hours a week, (7:18) so it's 40 hours a week. (7:20) He said, 40 hours a week if you want to be average, George.
(7:24) I got to thinking about that and I thought, wow. (7:26) So I need to get to 40 hours a week every week as fast as I can (7:32) so I can work more hours than that to get ahead and not be average. (7:37) And that was a mindset that really was put in my head when I was younger (7:41) and helped me a lot when I started the business that I'm in.
(7:45) But it sounds like you also had to work more than 40 hours a week to get ahead. (7:49) Is that fair? (7:50) It is fair, but I also want to be candid that I was never, (7:55) I didn't really think of it like I had to work 40 hours a week (8:00) or I had to work 80 hours a week. (8:02) It was more about I want to go back, I want to figure this next thing out.
(8:07) I was liking it a lot. (8:10) And I hadn't had that experience really before. (8:12) It's just like any other young guy, as you said, (8:16) you sort of think that there's a construct that you're supposed to follow (8:18) and this thing just sort of happened.
(8:20) I never really planned to be an entrepreneur. (8:24) I wasn't really thinking about much of anything. (8:27) I wanted to have a family, I wanted to have kids and have some security, (8:31) do some fun things, but I didn't have this perfect vision of where I wanted to go.
(8:35) That part just sort of happened. (8:37) And when it did, I wanted more. (8:40) So I never really felt like I have to go back and do this or I'm working too much.
(8:45) There were certainly times where I was aware that I probably should pump the brakes (8:48) and pay attention to some other things in my life too. (8:50) And I would say I'm very fortunate that I always tell people when it's Sunday, (8:56) I don't get the Sunday scaries that I have to go back to work on Monday. (9:00) I'm excited to pull out of the driveway on Monday (9:02) and see what's in store for the following week.
(9:05) That's a beautiful thing. (9:06) You found something that you like, it doesn't sound like it's work anymore, (9:12) and you enjoy doing what you do. (9:14) Isn't that nice? (9:18) We sleep a third of our life, we work a third, (9:21) and we have a third with our families and that type of time.
(9:26) So finding what you like is a real important part of having a quality life, I believe. (9:32) Congratulations on accomplishing that. (9:36) Do you believe there's anything in particular that helped you to find success? (9:40) I would say, without sounding too cliche, (9:44) it was a family upbringing, close-knit family on the east side of Cleveland.
(9:50) I'm unique in the sense that I had four grandparents that were all born in Cleveland, Ohio. (9:56) So most people of my generation had some grandparents that were either immigrants (10:02) who came to this country, but I literally had four grandparents that were born in Cleveland. (10:07) All of them started with nothing, became successful over their lives, (10:13) taught the lessons of hard work and family.
(10:16) Again, a lot of kids who are growing up don't necessarily realize it when they're kids or even young adults, (10:25) but somewhere along the way you sort of laugh inside and say, (10:28) I must have been paying attention somehow because I'm doing a lot of the same things that I saw as I was growing up. (10:34) Would you say that your grandparents were mentors? (10:37) If so, that's interesting. (10:40) Then, did you have any other mentors that you'd mention? (10:43) For sure.
One in particular, my father's father, that grandfather, (10:49) is somebody who I looked up to my entire life. (10:52) I was very fortunate that he lived to 102. (10:56) He lived to 102 with full mental capacity.
(11:00) He was playing golf three days a week, and he just broke a hip at 102 and ended up getting pneumonia, and that was it. (11:10) But he had a blessed life, and I got to hear so many stories from him throughout his life, (11:18) not just remembering when, but even when I was starting a business, (11:22) he would come out and see it and give me advice on things. (11:26) So really, really lucky to have him in my life.
(11:28) And then there were plenty of other people, early managers that I had from companies that I was working at as a teenager, (11:36) and even right out of college that taught me things. (11:39) So yeah, I was really lucky to have people in my life that sort of sports coaches, (11:45) teaching me the value of hard work and teamwork and all those things. (11:48) It really helps out, builds your confidence as you're younger, (11:52) and kind of sheds a little light on the subject that you'll make your way, you'll find your way, just keep working at it.
(11:58) And I also, along the way, while we were building the business too, (12:03) I've been very fortunate, a wife who has been completely supportive, (12:08) and I've seen plenty of situations where it's not the same, but she's been amazing. (12:13) We've been married for almost 30 years, and from the day that we started the business, (12:18) she's never second-guessed, she never complained about working too late, was really a team player. (12:23) So I consider her a partner in the business.
(12:26) Well, it's wonderful to have that kind of support there with you. (12:29) A partner who's always in your corner and believes in you, right? (12:33) Yep, makes it easier. (12:35) Yes.
So your business continues to grow, and I think back in the older days, (12:42) the world of recycling was like, you'd see piles of steel just sitting there and rusting and whatnot. (12:48) But the world of recycling and technology has been now, it's been combined. (12:55) You've pioneered a new industry.
(12:58) Can you look into the future with us a little bit and project, (13:02) what do you see in the world of recycling, sustainability, (13:07) the importance of this as we go forward as a group of people? (13:12) How much time do we have? (13:15) It's, again, one of the reasons I think that I'm still very energized about the business (13:20) is that, in a way, you can be, especially when we talk about electronics (13:27) versus traditional scrap recycling with maybe non-ferrous metals and ferrous metals (13:32) that tend to have longer lasting lives, where with electronics, it changes so fast. (13:40) One of the luxuries of the business, if you will, (13:43) is that you don't really have to think about what's going to happen next. (13:47) You just let it happen.
(13:48) So being at the end of life, I can see what you might be using as technology today, (13:54) and I know that in two to three years from now, (13:56) we're going to be figuring out how to recycle that material (13:58) because you're going to be using the new thing. (14:00) So whether it's this microphone, that mixing board, these lights, it's all going to change. (14:05) So we're just watching what happens.
(14:08) So part of what we do in looking at growth is, what's happening in the world? (14:13) So even watching your shows, so we talk about plastic. (14:16) We know that plastic has got infinite potential in terms of improvement at this point (14:21) in so many different ways, some of them very obvious, some of them not obvious. (14:25) We look at EV batteries for cars.
(14:29) Well, the same chemistries that are in your cell phone battery (14:32) are going to be in huge demand in a much bigger way than they've ever been by sheer volume (14:37) as we move into electric vehicles. (14:40) So the cars of the next three years are basically giant computers with big batteries. (14:47) Interesting.
(14:48) So we're already in negotiations with people, with OEMs, auto manufacturers, (14:54) people who are building the batteries, the closed loop of recycling for the commodities (14:59) that will go into electric vehicle batteries. (15:01) It's going to be like going back 150 years when the integrated steel mill started right around here, (15:06) and it was the byproducts that were coming out of the steel making (15:12) that were going right back into the mill to be used to make steel. (15:15) Think of electronic vehicle batteries the same way, and it hasn't even started.
(15:19) So when we see the growth, or we look down the road, we see things like that. (15:25) That's wonderful. (15:26) So as we're talking through that area, would you say that the importance of recycling (15:33) and drawing these very precious materials back out and putting new life to them (15:41) by extracting them during the recycling process, (15:45) how much is that helping us not have to go and mine those materials (15:52) and to go and find that elsewhere in the world? (15:56) How much is recycling adding to our ability to make new products (16:01) and not have to go into, let's say, the forest and start to take out another mine (16:07) or something to that effect? (16:09) Again, it's a huge area to discuss.
(16:13) We think of recycling as a nice thing. (16:17) We think of it as this, you put your recyclables into the blue bag (16:21) and the nice people take it away and it gets sorted, and it's a great story. (16:26) But really, recycling is about common sense and economics.
(16:30) And I feel like in the last, say, 75 years, the world has gotten a little bit lazy with it (16:37) because we've had so many natural resources at our fingertips (16:41) and we consume them and we don't really think too much about it. (16:45) We just think that we get what we want when we want it (16:48) and regardless of what part of the world it comes from, (16:50) if they make it cheaper, we're going to buy it from there. (16:53) And while a lot of people think that they want things that are grown local or made local, (16:58) do they really want to pay what it costs to make those things (17:02) if they're not just being farmed out to all different parts of the world to be made at a lower cost? (17:08) So I think it does ultimately have a big impact, (17:11) and as we start to see people really wake up to, (17:15) wow, maybe I do need to keep my footprint a little bit smaller, (17:18) people start thinking about using less.
(17:21) And when we talk about manufacturers who are making and selling things, (17:26) whether it's electronics or automobiles, (17:28) most of those companies aren't really that interested in making less, right? (17:32) Sure. (17:33) They want to make more, but there needs to be some kind of cultural shift (17:38) to at least reuse what we've made in the first place. (17:43) Interesting.
So there could be a lot of opportunity there, (17:46) a lot of innovation, it sounds like, in that space (17:49) of how to bring things at end of life back into the world of business (17:56) so that we can reuse it more, let's say many more times and create less impact. (18:04) Sure. Especially we think of things like rare earth metals, cobalt, lithium.
(18:10) These elements are only found in certain parts of the world. (18:14) So now you start getting into geopolitical situations (18:18) where do we own the rights to this material just because we're the United States (18:22) and we want to make more EV batteries or cell phone batteries than anybody? (18:26) We have to work with people. (18:27) Or do we become more dependent on creating sustainable recycling solutions (18:32) to recover that material and reuse it that way? (18:35) So that's where I come back to saying recycling is about economics.
(18:39) People like to think of it as this nice idea, and it is, (18:43) but if you think of it in a more basic way, it's just common sense and economics. (18:47) And that's always been and that always will be (18:50) because if somebody can do something that's convenient and makes economic sense, (18:55) typically you get more people's attention. (18:57) And we're constantly analyzing pounds and tons and pieces and dollars and doing time studies.
(19:04) How long does it take to process this material? (19:06) How much electricity did we use? How much propane did we use in a forklift? (19:10) How much shrink wrap did we use? So I think numbers are really important. (19:14) Okay, so if we were to say, again, we're going to take a peek into the future, (19:19) what does your company look like in the future? (19:22) I think some of the things I could point to is I think we'll have expansion (19:26) along the way internationally somehow. (19:30) Starting in one location in Cleveland, Ohio, (19:33) and now having eight locations in the United States (19:36) from Washington State to Tampa, Florida.
(19:39) We do business all throughout Europe. (19:42) We do business in Middle East Africa. (19:46) We are doing business in Mexico.
(19:48) And we've got great partners that we've worked with for a long time. (19:51) But the more and more that we get involved with multinational companies, (19:56) I can see that that's going to be something that would most likely happen in our future. (20:02) That's great to hear.
Well done. (20:04) All right, so if you had an innovation lab at Regency, (20:08) what would be something you would teach in your innovation lab? (20:12) I'm trying to think of the best way to say it, (20:13) but I would say like reverse engineering things. (20:16) We take things apart for a living.
(20:19) So whether we're going to recycle it or we're going to repair it and reuse it, (20:25) we like to take things apart, see how they were put together in the first place. (20:30) What is that material made of? What is it? (20:33) What are the elements that are there? How does it come apart? (20:35) Hit it with a hammer. Drop a shear on it.
(20:39) Test it with memory. Test it without memory. (20:42) We go through a lot of batteries of examination.
(20:45) We do a lot of time and material studies. (20:47) Interesting. (20:48) So that's a big part of how we move forward.
(20:51) So we do have, it's not necessarily one innovation lab, (20:55) but we want innovation and testing going on all the time. (20:59) And we encourage our managers, if they see something that we haven't seen before, (21:02) again, going back to that nature of electronics is changing so fast, (21:06) we can't possibly know what's coming in every single day. (21:10) So we have to spot things and then stop them and say, (21:13) huh, we've got a new species.
What's it made of? (21:16) What was it in? How did, who did it come from? (21:20) So there's a spirit of that kind of innovation from reverse engineering things. (21:25) So true. (21:26) Demanufacturing is what we call it.
(21:27) Okay. So that's a very important part of, (21:30) I believe you're right from the perspective of an innovation lab. (21:34) We believe as well that learning how to take things apart and what's in there, (21:41) how does it work? Why does it work that way? (21:44) And you can keep going.
(21:46) Like how did they get to that $9.99 price point once you know what all these parts are in here? (21:52) So there's a real system and formula for figuring out how did this product come to be? (21:59) And then of course the opposite for your business, (22:03) it's what is in this thing and how do I break it all the way down to its basics, (22:09) separate it and reuse as much as possible that makes economic sense. Fair? (22:16) Correct. And doing it safely.
(22:18) Yes. (22:19) Environmentally friendly. (22:20) That's great.
Jim Levine from Regency, (22:23) thank you very much for visiting with us today. (22:27) Well everybody, that's another edition of Tomorrow's World Today. (22:30) Thanks for tuning in.
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