What would you do if you had a six-figure salary? Maybe by never cooking a meal again, or by getting a once-a-month Thai massage or a membership to Soho House and attending the best of the game. You will never be free from the stress that arises.
Here at The Good Life, you no longer have to imagine what life at the top is like. Get real-life inspiration about how the most successful people live their lives.
Today, Fortune sat down with Kim Povlsen, president and CEO of Danish robotics company Universal Robots.
As the Silicon Valley billionaire predicts that millions of bipedal robots will roam the earth and take over many of our jobs in the coming decades, Universal Robots is hoping that people will be able to interact with robots. We aim to build a working world.
Universal Robots sold its first robotic arm in 2008.
At the time, Pobulsen had just graduated as a robotics engineer from the University of Southern Denmark.
90,000
Number of cobots sold by the company.
But he and the industry have come a long way since then. Now 42, he has rapidly risen through the ranks in less than a decade, from a new engineer fresh out of college to vice president of automation manufacturer Schneider Electric. .
“We are on a mission to bring automation to everyone, everywhere.”
Kim Povlsen
He now heads up Universal Robots, the world’s leading provider of collaborative robots (which the company calls cobots).
“If you haven’t seen it in action yet, you will soon,” the millennial chief told Fortune. “We are on a mission to bring automation to everyone, everywhere.”
As with his career, automation has really taken off in the last few years. The company just opened its 100th training center, sold nearly 90,000 cobots worldwide, and announced significant partnerships with Nvidia and Siemens.
finances
What is the best investment you have ever made?
I’m a bit of a picky eater when it comes to coffee, so I particularly like a good espresso machine from the La Marzocco brand. I bought it 3 years ago for about 80,000 yen. It’s much easier to wake up early in the morning.
This applies to me, but it also applies to my wife. Since I’m away from home a lot, she does a great job for the kids and me, and like me, she values well-brewed coffee. Thanks to that, I can make for her and serve her the perfect coffee with latte art.
And the worst thing?
This is a bit silly, but I think many people can relate to it.
Years ago, just before Bitcoin became popular, I got a bonus and seriously considered using the free cash to invest in this new thing. However, after talking with friends and family, I concluded that this was probably too risky a trend to last, so instead I bought huge new rims for my car at the time, a black Seat Leon. I decided to do it. Although it looked cool, it was very uncomfortable to drive. Six months later, I watched Bitcoin skyrocket.
If I have children, what will the childcare arrangement be like?
I am often away from home, while my wife is self-employed, works as a yoga instructor, and runs a business with a friend. This means she has the freedom to be home and she really likes it because she can be home for her kids, who are 10 and 12 years old.
We’ve been following this model since we moved abroad about 10 years ago and it’s worked well for us.
What is your living environment like? A fancy apartment in the city or a sprawling house in the suburbs?
I lived in downtown Boston and loved it there. Morning walks around town with coffee on my way to work were something else. On the other hand, my wife has always dreamed of living in the countryside. I mean, neither of us ever dreamed of living in the suburbs, but ironically, our lives are currently very busy, living in a house just south of Aarhus, Denmark’s second largest city. It has become a classic suburb. It may not be where we envisioned it all those years ago, but it’s worked out really well in terms of our kids having school right down the street and friends nearby. And we live very close to the forest and the sea.
How do you commute?
I usually spend three days a week in Odense, where Universal Robots headquarters is located. That is if you are not traveling. It’s an hour and a half drive from my home in Aarhus and I love driving there. I make phone calls, but it’s also time to listen to audiobooks. I listen to a lot of business-related books, and I’m always looking for something new to teach me or inspire me.
I’m at the age where I reread some of the same books every year. It’s to keep me on track with what I want to achieve. One of them is called “Build” by Tony Fadell, who led the team that created things like the iPod and iPhone. He then founded Nest. So when I’m busy with milestone reviews and business updates, I think it’s healthy to read books like this to remind me how to make great products.
Do you carry a wallet?
what? No, it’s all on your phone. I’m really frustrated because I can’t even get a passport using my cell phone.
“My best advice is to invest in things that allow you to learn and grow as a person, such as education and travel. Then the rest will come when you are older.”
What personal money advice would you give your 20-year-old self?
Honestly, I’d say to 20-year-old Kim, “Keep doing what you’re doing.”
At the time, I knew the smart thing to do was to start saving and invest some of that money. The problem is, when I was 20, I didn’t have much money. Since I had money, I spent it having fun and exploring. There is a saying: “When you are young, focus on learning.” When you get older, focus on earning money. ”I like it, but of course you should never stop learning. But my best advice is to invest in things that allow you to learn and grow as a person, like education and travel. And the rest will come when you get older.
What subscription can you not live without?
My Audible subscription. You’ll receive 1 credit every month, so you can actually buy new books instead of buying them the traditional way. If you look at your account and notice you have 3 credits, that means you need to use them (right?), so you’re pacing yourself in a good way. That is, you will read more in turn.
Where are the watches you often use made?
I have three different watches and it’s important to me that they go well with my outfit. For example, the color of your watch should match the color of your shoes.
Specifically, I wear a Danish brand called About Vintage. It’s not expensive at about $500, but it looks nice and you can swap out the straps for different occasions.
Like many others, I like to wear my Garmin running watch when I’m not at work or on the weekends.
necessities
How do you get your daily coffee?
My daily coffee fix is more than just a routine, it’s a bit of a ritual. UR is fortunate to have an in-house barista, so I try to stop by the coffee station regularly. In addition to drinking coffee, you can also enjoy conversation. Sometimes I stand behind the counter and take orders. It’s a great way to connect with colleagues, share ideas, and keep up with what’s happening across the company.
We have La Marzocco at home and currently import coffee beans directly from Italy. A few years ago, my quest for the perfect coffee led me to a small shop in Lucca, Tuscany. I have been importing beans for a while now and receive regular shipments of 5 kg.
What about eating on the go?
When I’m at the office, I always go to the company cafeteria to eat with people I want to eat lunch with. By doing so, you can meet colleagues from all over the world. Breaking bread + conversation = great results.
I travel a lot around the world. Most of our customers are industrial companies and are located in all kinds of regions around the world. That’s why I always carry a whole food bar with me.
When I’m in the Odense office, my partner often visits or I go out to eat with colleagues who are in the same town. Eating out allows you to have long conversations with close colleagues. We get to spend a couple of hours together, something we would never normally get to do, and it makes it a little more casual and allows us to talk about topics other than pure business.
Where do you buy groceries?
It may not be very “CEO-esque”, but I really enjoy going to the local grocery store. And as much as I love technology and saving time, I always go to an old-fashioned checkout counter with a cash register. I love the personal touch and small everyday interactions I get there.
We also have a subscription to what we call “Kunde-bonde” (customer farmers). This gives you access to local farmers’ fields, and for a monthly fee, you can harvest all the fruits and vegetables you want straight from the trees and the ground. That’s amazing.
How often per week do you eat out or cook at home?
There is no such thing as a normal week in my world, but I usually go out to dinner with customers about twice a week.
If I had a choice, I’d eat at home, but when I’m in charge of cooking, my favorites are homemade pizza and burgers (the kids don’t complain).
Where do you buy your work wardrobe?
When I find a brand I like, I stick with it. All my suits are tailored in the same place and my shirts are all from OLYMP. For anything other than suits, especially pants, I go to Danish company Shaping New Tomorrow. Because it’s simply stylish and incredibly comfortable at the same time.
snack
Do you take pride in owning some futuristic gadget?
My Oura ring. I’ve been wearing this for several years and it tracks things like sleep patterns and exercise. It helped me figure out what habits work best for me so I can be my best self at home and at work.
How do you relax from a prestigious job?
When I’m not working, I prioritize spending time away from home and being with my family. I was previously a member of the Danish national racquetball team. It’s not exactly the same, but I like to play padel tennis when I get the chance.
I also go for a run, but it doesn’t help me relax, in fact it’s the opposite. In the process, you’ll come up with 100 new ideas. I think it takes away the point of relaxing because I often have to stop running and take notes.
What is the best bonus you bought yourself?
Earlier this year, my family traveled to Sri Lanka for three weeks. It was wonderful. I’m a bit conservative when it comes to travel and can go to Italy as many times as I want. My wife has always been interested in seeing new places and wants to go to places like the Himalayas. We usually end up going where she wants to go, which leads to some great adventures.
Most of the trip was spent outside the resort, literally in the middle of the jungle, with leopards and elephants roaming around at night. It was an amazing nature experience and one I will never forget.
How do you record notes during a meeting?
I can’t remember the last time I took notes on actual paper. I use ReMarkable Notepad.
Take us on vacation. What’s next on your vacation list?
During my years at Schneider Electric, I lived in Grenoble, France, and fell in love with mountains. Fresh air, silence, and a crystal clear lake that you can literally jump into. And you can occasionally hear cowbells in the distance.
So, next time we travel as a family, we’ll probably head to the mountains of Austria or Italy.
Here at The Good Life, you no longer have to imagine what life at the top is like. Get real-life inspiration about how the most successful people live their lives. Check out other The Good Life profiles.
