1 00:00:00,120 --> 00:00:02,400 Speaker 1: Season two of the Black Tag Green Money Podcast is 2 00:00:02,440 --> 00:00:04,760 Speaker 1: brought to you by Lexus, who goes all in the 3 00:00:04,840 --> 00:00:07,560 Speaker 1: craft of perfect package of style and performance with the 4 00:00:07,560 --> 00:00:10,800 Speaker 1: new Lexus I S A well appointed cabin and available 5 00:00:10,840 --> 00:00:13,400 Speaker 1: track tune V six helped make the new I S 6 00:00:13,600 --> 00:00:17,600 Speaker 1: V Luxury Sports to then experience amazing at your Alexis 7 00:00:17,600 --> 00:00:26,400 Speaker 1: Dealer Afro Tech ten, San Francisco, California, such a Rogers 8 00:00:26,440 --> 00:00:28,560 Speaker 1: who at the time is leading look Live and that 9 00:00:28,800 --> 00:00:31,800 Speaker 1: that helps you shock the favorite styles and celebrities and influences. 10 00:00:31,920 --> 00:00:34,760 Speaker 1: It's on the main stay. He's discussing the transition both 11 00:00:34,840 --> 00:00:38,480 Speaker 1: mental and physical, from being a consumer to a producer 12 00:00:38,920 --> 00:00:42,360 Speaker 1: to an investor. That were the last ten years, Mark 13 00:00:42,440 --> 00:00:47,000 Speaker 1: Zuckerberg has made more money than every NBA player combined. 14 00:00:47,680 --> 00:00:52,360 Speaker 1: I was like wow, and I was still at Apple, 15 00:00:52,640 --> 00:00:56,800 Speaker 1: Who I'm doing this wrong? So I said, you know, 16 00:00:57,480 --> 00:01:00,800 Speaker 1: I want to move from being a consumer to a 17 00:01:00,920 --> 00:01:05,440 Speaker 1: producer to an investor. And Paul said, you know what, 18 00:01:05,520 --> 00:01:08,480 Speaker 1: said you'd live in the same challenges as most of us. 19 00:01:09,040 --> 00:01:12,200 Speaker 1: It's called the dreams diremma. See, either you can risk 20 00:01:12,400 --> 00:01:15,520 Speaker 1: chasing your dreams where you can have the safety of 21 00:01:15,560 --> 00:01:19,520 Speaker 1: working on someone else's The question is which one you're 22 00:01:19,520 --> 00:01:23,639 Speaker 1: gonna choose. It's easy. I went to tex Square Labs 23 00:01:24,120 --> 00:01:26,959 Speaker 1: is in Atlanta, Georgia. For those you are on the 24 00:01:26,959 --> 00:01:29,400 Speaker 1: East Coast that want to think about building, this is 25 00:01:29,440 --> 00:01:33,840 Speaker 1: a place that you can come and learn how to 26 00:01:33,880 --> 00:01:37,840 Speaker 1: build something from nothing. You gotta do what you love. 27 00:01:39,120 --> 00:01:42,840 Speaker 1: Prioritize your passion, but tell the world because they'll hold 28 00:01:42,840 --> 00:01:46,640 Speaker 1: your accountable and from there you'll be able to make 29 00:01:46,680 --> 00:01:52,120 Speaker 1: it happen. So the way I say this is is listen, 30 00:01:52,840 --> 00:01:56,960 Speaker 1: don't define your destiny about where you are today. If 31 00:01:57,000 --> 00:02:01,080 Speaker 1: you had a plan in your heart, go after it atitating. 32 00:02:03,560 --> 00:02:06,520 Speaker 1: I'm with Lucas and this is Black Tech, Green Money. 33 00:02:07,240 --> 00:02:09,240 Speaker 1: I'm gonna introduce you to some of the biggest names, 34 00:02:09,360 --> 00:02:12,720 Speaker 1: some of the brightest minds and brilliant ideas. If you're 35 00:02:12,760 --> 00:02:15,520 Speaker 1: black in building or simply using tech to secure your bag, 36 00:02:16,040 --> 00:02:24,040 Speaker 1: this podcast is for you. Collapse Capitals and Investment Fund 37 00:02:24,120 --> 00:02:27,680 Speaker 1: leveraging financial, human and social capital to help black founders 38 00:02:27,720 --> 00:02:32,399 Speaker 1: build sustainable innovations in their businesses. The three managing partners, 39 00:02:32,639 --> 00:02:36,320 Speaker 1: Very Givens, Jill Bert's and Justin Dawkins are previously operators 40 00:02:36,320 --> 00:02:40,400 Speaker 1: and engineers who run innovative startups raise significant venture capital 41 00:02:40,600 --> 00:02:44,480 Speaker 1: and successfully sold their companies. I asked the partners about 42 00:02:44,520 --> 00:02:47,240 Speaker 1: the state of black startups. What is unique about this 43 00:02:47,360 --> 00:02:50,360 Speaker 1: current moment in history that may collapse capital both an 44 00:02:50,360 --> 00:02:55,080 Speaker 1: opportunity and necessary step in their respective careers. It is 45 00:02:55,400 --> 00:03:00,080 Speaker 1: so important right now to be supporting, investing in and 46 00:03:00,240 --> 00:03:04,320 Speaker 1: black founders because we know that this year alone has 47 00:03:04,400 --> 00:03:11,200 Speaker 1: been crazy for everyone, but in particular for black founded businesses. 48 00:03:11,520 --> 00:03:15,119 Speaker 1: Um there's some scary statistics out there around the fact 49 00:03:15,200 --> 00:03:19,320 Speaker 1: that of black founded companies may not recover at all 50 00:03:19,520 --> 00:03:23,720 Speaker 1: from COVID, and we want to make sure that the 51 00:03:23,760 --> 00:03:28,320 Speaker 1: companies that we can support actually do make it. And 52 00:03:28,400 --> 00:03:31,600 Speaker 1: so even before that, though even before this year and 53 00:03:31,680 --> 00:03:36,400 Speaker 1: before you know, people became more aware of the fact 54 00:03:36,480 --> 00:03:40,240 Speaker 1: that black founded companies needed more resources, we already were 55 00:03:40,280 --> 00:03:43,880 Speaker 1: on this mission to invest in black founders, and it 56 00:03:43,960 --> 00:03:46,360 Speaker 1: was really born out of our own journeys. All of 57 00:03:46,440 --> 00:03:49,240 Speaker 1: us have built companies before, all of us have had 58 00:03:49,320 --> 00:03:53,240 Speaker 1: difficulty raising money before getting access to the right networks, 59 00:03:53,600 --> 00:03:56,040 Speaker 1: and so we kind of made a vow to ourselves 60 00:03:56,040 --> 00:04:00,160 Speaker 1: and to each other that when we could, we make 61 00:04:00,200 --> 00:04:02,840 Speaker 1: sure that the next generation of entrepreneurs coming up behind 62 00:04:02,960 --> 00:04:04,840 Speaker 1: us would not have to deal with some of the 63 00:04:04,920 --> 00:04:07,000 Speaker 1: things that we had to deal with on our journeys. 64 00:04:07,360 --> 00:04:10,200 Speaker 1: So that's really the why is. You know, we saw 65 00:04:10,240 --> 00:04:13,680 Speaker 1: this opportunity in the market to serve black founders. We 66 00:04:13,720 --> 00:04:16,400 Speaker 1: think there's a huge market opportunity, not just it's not 67 00:04:16,480 --> 00:04:20,279 Speaker 1: a charity opportunity, it's really a business opportunity to support 68 00:04:20,279 --> 00:04:23,000 Speaker 1: black founders, and we felt like we were the right 69 00:04:23,000 --> 00:04:26,360 Speaker 1: people to do it, giving our experience and giving our backgrounds. 70 00:04:27,040 --> 00:04:29,640 Speaker 1: Very let's talk about that. So, you know, being venture 71 00:04:29,640 --> 00:04:33,599 Speaker 1: funded in your your career trajectory, your business, and what 72 00:04:33,720 --> 00:04:38,279 Speaker 1: is it about the traditional VC ecosystem that may not 73 00:04:38,440 --> 00:04:40,960 Speaker 1: be great for black entrepreneurs where we get you know, 74 00:04:41,120 --> 00:04:47,280 Speaker 1: disproportionately affected by decisions or ways of doing business. Yeah, 75 00:04:47,320 --> 00:04:50,800 Speaker 1: I'll touch on two quick points covering that, UM, and 76 00:04:50,920 --> 00:04:53,600 Speaker 1: thank you for having us today too, well, appreciate you. UM, 77 00:04:53,960 --> 00:04:57,359 Speaker 1: get that out the way. UM. But you know, like 78 00:04:57,440 --> 00:05:00,960 Speaker 1: going through this journey, you even if you look at 79 00:05:01,080 --> 00:05:05,960 Speaker 1: funds you know that have you know, black managing partners 80 00:05:06,040 --> 00:05:10,280 Speaker 1: right and or funds that focus on diversity or you 81 00:05:10,320 --> 00:05:14,719 Speaker 1: know marginalized people. UM, black founders still tend to be 82 00:05:14,800 --> 00:05:18,840 Speaker 1: marginalized within the marginalized UM. And so it was a 83 00:05:18,920 --> 00:05:21,640 Speaker 1: really big deal for us to say, like we are 84 00:05:21,760 --> 00:05:25,560 Speaker 1: unapologetically black, like we don't use words like minority, and 85 00:05:25,600 --> 00:05:28,599 Speaker 1: we don't use words like diversity, like we invest in 86 00:05:28,720 --> 00:05:32,200 Speaker 1: black founders because that is the issue. Like when you 87 00:05:32,200 --> 00:05:35,360 Speaker 1: think about diversity to sixties, we were still being left 88 00:05:35,400 --> 00:05:38,400 Speaker 1: in the dust, right And so then you take it 89 00:05:38,400 --> 00:05:40,640 Speaker 1: a step further and let's say black founders do get 90 00:05:40,680 --> 00:05:44,320 Speaker 1: that first check. The way that venture capitalists built now 91 00:05:44,400 --> 00:05:47,240 Speaker 1: is that it's always running to the next check. It's 92 00:05:47,279 --> 00:05:49,920 Speaker 1: always running to the next round UM. And you take 93 00:05:49,960 --> 00:05:52,560 Speaker 1: companies like mine that we you know, I was able 94 00:05:52,560 --> 00:05:55,400 Speaker 1: to secure capital. And then when you need to get 95 00:05:55,440 --> 00:05:58,960 Speaker 1: to that next level, that's typically where black founders you 96 00:05:59,000 --> 00:06:01,440 Speaker 1: can't find that person and that believes in you too, 97 00:06:01,880 --> 00:06:03,680 Speaker 1: to give you that eight new which what we were raising. 98 00:06:03,720 --> 00:06:06,040 Speaker 1: You can't find that, you know, seven eight million dollars 99 00:06:06,040 --> 00:06:10,640 Speaker 1: for your Series A UM. And we needed to create 100 00:06:10,640 --> 00:06:13,640 Speaker 1: a model that allowed for founders to not depend on 101 00:06:13,720 --> 00:06:16,479 Speaker 1: that system, right like you eat. So even when we 102 00:06:16,520 --> 00:06:19,680 Speaker 1: get them to building the sustainable businesses, you run your 103 00:06:19,720 --> 00:06:21,800 Speaker 1: business and you decide if you go ask somebody you 104 00:06:21,800 --> 00:06:24,640 Speaker 1: you decide if you give somebody the opportunity to invest 105 00:06:24,680 --> 00:06:27,360 Speaker 1: in your business UM. And that's how we allow black 106 00:06:27,360 --> 00:06:29,599 Speaker 1: founders to be more successful because honestly, we're not going 107 00:06:29,640 --> 00:06:32,320 Speaker 1: to change that system overnight. And in this world, if 108 00:06:32,320 --> 00:06:34,719 Speaker 1: you can't get the Series B you know and keep 109 00:06:34,800 --> 00:06:37,120 Speaker 1: raising and keep raising UM, a lot of times you 110 00:06:37,160 --> 00:06:39,480 Speaker 1: don't reach that level of success. And so those are 111 00:06:39,520 --> 00:06:42,520 Speaker 1: two things, you know, why we found it so important 112 00:06:42,560 --> 00:06:45,920 Speaker 1: to develop this new model. And and justin when I 113 00:06:45,960 --> 00:06:49,560 Speaker 1: think about UM in Bury Endels just talked about it, 114 00:06:49,600 --> 00:06:52,480 Speaker 1: you know, having that access to capital, and you know 115 00:06:52,680 --> 00:06:55,160 Speaker 1: this as well as anybody, it's often more than just 116 00:06:55,400 --> 00:06:57,799 Speaker 1: capital that we need. All of the capital is important. 117 00:06:57,800 --> 00:07:00,200 Speaker 1: There's just you know, tweet going around talks about your 118 00:07:00,279 --> 00:07:03,680 Speaker 1: over mentored and underfunded right and too too often. And 119 00:07:04,240 --> 00:07:07,600 Speaker 1: but other things beyond the capital is also important too. 120 00:07:07,640 --> 00:07:08,880 Speaker 1: So I don't want to talk about I want to 121 00:07:08,880 --> 00:07:10,960 Speaker 1: talk about this a couple of times during this conversation, 122 00:07:11,280 --> 00:07:16,280 Speaker 1: like what other things do entrepreneurs need that particularly black 123 00:07:16,440 --> 00:07:19,960 Speaker 1: entrepreneurs don't get in traditional VC relationships that you guys 124 00:07:20,080 --> 00:07:24,040 Speaker 1: made it a priority to focus on. Yeah, that's that's 125 00:07:24,080 --> 00:07:26,520 Speaker 1: a great question, Will um and and really appreciate that 126 00:07:26,640 --> 00:07:29,880 Speaker 1: question because it really points to the purpose of collab 127 00:07:30,080 --> 00:07:33,040 Speaker 1: I mean it's short for collaboration UM. One of the 128 00:07:33,160 --> 00:07:35,800 Speaker 1: things that is often just one of many things that 129 00:07:35,880 --> 00:07:38,920 Speaker 1: is often missing UM is usually promised, which is, oh, 130 00:07:39,000 --> 00:07:41,560 Speaker 1: we're going to be your partners, We're going to do 131 00:07:41,720 --> 00:07:44,560 Speaker 1: the things that we need to do to UM sidecar 132 00:07:44,720 --> 00:07:47,400 Speaker 1: the capital right that's going into the business. But the 133 00:07:47,520 --> 00:07:51,480 Speaker 1: level of intentionality is not always there, which is the commitment, 134 00:07:51,600 --> 00:07:55,560 Speaker 1: the willingness to get into the weeds UM. And as 135 00:07:55,640 --> 00:07:58,520 Speaker 1: experienced operators, all three of us having built different types 136 00:07:58,520 --> 00:08:00,800 Speaker 1: of businesses and helped to create a types of businesses, 137 00:08:01,200 --> 00:08:04,880 Speaker 1: we recognize and understand that sometimes the best investors are 138 00:08:05,080 --> 00:08:08,400 Speaker 1: experienced operators, folks who understand how to kind of get 139 00:08:08,480 --> 00:08:11,640 Speaker 1: into the weeds, how to identify business models and opportunities 140 00:08:12,000 --> 00:08:14,840 Speaker 1: and then build out of build out of that experience 141 00:08:14,920 --> 00:08:17,840 Speaker 1: as opposed to just bringing capital. M And then the 142 00:08:17,920 --> 00:08:22,160 Speaker 1: other thing is access to networks. Right, So business is 143 00:08:22,200 --> 00:08:25,880 Speaker 1: still relationships centric. And so no matter how many machines 144 00:08:25,960 --> 00:08:29,680 Speaker 1: and artificial intelligence we put in place, we need relationships. 145 00:08:29,760 --> 00:08:33,280 Speaker 1: And you know, two notches above warm intros, we need 146 00:08:33,400 --> 00:08:38,200 Speaker 1: highly intentional relationships that are developed, nurtured, and so there's 147 00:08:38,280 --> 00:08:41,360 Speaker 1: there's lines of trust so that our founders can get 148 00:08:41,400 --> 00:08:44,920 Speaker 1: into the doors, secure the conversations that they need to have, 149 00:08:45,320 --> 00:08:47,960 Speaker 1: and get the deals actually done. And so those are 150 00:08:47,960 --> 00:08:50,200 Speaker 1: the things that we are actually focused on a collab 151 00:08:50,760 --> 00:08:57,000 Speaker 1: through our non capital contributions and investments, because you know, 152 00:08:57,200 --> 00:09:01,839 Speaker 1: we're working towards building more inclusion and economic opportunity for 153 00:09:01,960 --> 00:09:06,480 Speaker 1: entrepreneurs who typically haven't seen these opportunities historically. Um, how 154 00:09:06,520 --> 00:09:09,000 Speaker 1: do you approach them differently to meet their kneeds? And 155 00:09:09,160 --> 00:09:11,560 Speaker 1: what I mean by that is, is there a difference 156 00:09:11,800 --> 00:09:15,160 Speaker 1: in the term sheet structure like that you would give 157 00:09:15,240 --> 00:09:18,440 Speaker 1: a black entrepreneur versus one that a VC a traditional 158 00:09:18,520 --> 00:09:20,240 Speaker 1: firm might give. And we don't have to just tick 159 00:09:20,280 --> 00:09:22,640 Speaker 1: the term sheets. But how is it, um, how are 160 00:09:22,720 --> 00:09:26,440 Speaker 1: the structures set up with that capital infusion different if 161 00:09:26,480 --> 00:09:29,880 Speaker 1: they are for black founders versus the typical ones they 162 00:09:29,960 --> 00:09:34,319 Speaker 1: might receive. So I mean we can dive into that 163 00:09:34,440 --> 00:09:37,800 Speaker 1: super deep. You talk about just traditional term sheets that uh, 164 00:09:38,360 --> 00:09:40,000 Speaker 1: I would even get into the term sheets, but I 165 00:09:40,120 --> 00:09:45,560 Speaker 1: got the terms just typically aren't there. And so typically 166 00:09:45,600 --> 00:09:47,440 Speaker 1: what you're here is, you know, as a black founder, 167 00:09:47,559 --> 00:09:51,520 Speaker 1: you need to have you know, Series A level progress 168 00:09:51,600 --> 00:09:54,040 Speaker 1: to get se level terms you got to have Series 169 00:09:54,080 --> 00:09:57,280 Speaker 1: B level progress to get Series A level terms. Um, 170 00:09:57,440 --> 00:09:59,880 Speaker 1: you know, you take businesses like you know, apart Kit 171 00:10:00,400 --> 00:10:03,719 Speaker 1: or Mastewer, like these businesses that we were growing, and 172 00:10:03,880 --> 00:10:07,080 Speaker 1: you know, you have seven figure revenues and you still 173 00:10:07,280 --> 00:10:10,880 Speaker 1: can't get over you know, you still can't raise five, seven, 174 00:10:11,080 --> 00:10:14,040 Speaker 1: eight million dollars and you have companies out here. You know, 175 00:10:14,120 --> 00:10:17,320 Speaker 1: not to throw names out there, but I appreciate people 176 00:10:17,360 --> 00:10:19,760 Speaker 1: know it. But people with you know, two thousand users 177 00:10:19,800 --> 00:10:23,000 Speaker 1: getting a hundred million dollar value lations, it's you know, 178 00:10:23,080 --> 00:10:26,360 Speaker 1: how do you compete in that world? And so basically 179 00:10:26,559 --> 00:10:29,760 Speaker 1: what we said, it's like, let's break that world down. 180 00:10:29,840 --> 00:10:32,240 Speaker 1: And something that I tend to like to brag about 181 00:10:32,360 --> 00:10:35,920 Speaker 1: is that, you know, we we tore that model down, 182 00:10:36,040 --> 00:10:38,560 Speaker 1: not in a negative way, but just literally layer by 183 00:10:38,679 --> 00:10:41,160 Speaker 1: layer by layer and pull it back to find out 184 00:10:41,800 --> 00:10:45,400 Speaker 1: why are these inequalities here? How was this system built? 185 00:10:45,760 --> 00:10:48,680 Speaker 1: When you tear it all the way back? Justin wrote 186 00:10:48,679 --> 00:10:51,320 Speaker 1: a peace and when you sent it over to us 187 00:10:51,360 --> 00:10:54,480 Speaker 1: to read, you know, one of the um things in 188 00:10:54,559 --> 00:10:57,040 Speaker 1: the peace was that, you know, venture capital started when 189 00:10:57,080 --> 00:11:01,079 Speaker 1: black people still couldn't vote. Yeah, like this was constructed 190 00:11:01,120 --> 00:11:04,319 Speaker 1: at a time we had no power, and so obviously 191 00:11:04,400 --> 00:11:07,040 Speaker 1: it wasn't built for us, and so now we when 192 00:11:07,040 --> 00:11:10,280 Speaker 1: we stripped back layer by layer by layer, one of 193 00:11:10,320 --> 00:11:12,840 Speaker 1: the big things that we wanted to focus on our 194 00:11:12,920 --> 00:11:18,120 Speaker 1: model was ownership and flexibility as black founders. How many 195 00:11:18,160 --> 00:11:20,199 Speaker 1: times have we seen the founder build a company and 196 00:11:20,240 --> 00:11:22,760 Speaker 1: get removed at CEO. We told they had to go 197 00:11:22,880 --> 00:11:25,480 Speaker 1: in this direction. And so what we did was we 198 00:11:25,760 --> 00:11:28,960 Speaker 1: built a model from scratch. Um Like we're not using 199 00:11:29,080 --> 00:11:31,640 Speaker 1: a traditional we're not using the safe note or a 200 00:11:31,720 --> 00:11:34,960 Speaker 1: convertible note or a traditional series a turn sheet. Um. 201 00:11:35,080 --> 00:11:38,040 Speaker 1: We built and spent a year and a half eighteen 202 00:11:38,120 --> 00:11:42,520 Speaker 1: months building an entirely new investment vehicle that allowed us 203 00:11:42,600 --> 00:11:46,360 Speaker 1: to give the founders that ownership and that flexibility to 204 00:11:46,559 --> 00:11:48,319 Speaker 1: run the company the way they think it needs to 205 00:11:48,400 --> 00:11:51,160 Speaker 1: be ran obviously with us as advisors and with our 206 00:11:51,280 --> 00:11:54,599 Speaker 1: LP network and that human capital justin talked about. But 207 00:11:54,840 --> 00:11:56,959 Speaker 1: for us, like that is the important thing, Like we 208 00:11:57,120 --> 00:12:00,360 Speaker 1: want these founders to build generational wealth, and you build 209 00:12:00,400 --> 00:12:03,640 Speaker 1: generational wealth by not owning the thing that you build. 210 00:12:03,960 --> 00:12:05,920 Speaker 1: And so that's where a lot of our focus is 211 00:12:05,960 --> 00:12:08,599 Speaker 1: in our model. That's really really, really good and I 212 00:12:08,720 --> 00:12:11,719 Speaker 1: think about not only do you have the differences and 213 00:12:12,000 --> 00:12:15,480 Speaker 1: focusing on black entrepreneurs specifically in our needs, but you 214 00:12:15,600 --> 00:12:19,240 Speaker 1: also have a geographical difference, Like what is the difference, Jewel, 215 00:12:19,360 --> 00:12:21,760 Speaker 1: if you can speak to this, what is the difference 216 00:12:21,840 --> 00:12:25,559 Speaker 1: between raising money in the traditional network like ecosystem, like 217 00:12:25,559 --> 00:12:30,160 Speaker 1: a Silicon Valley versus like a Georgia or in the 218 00:12:30,240 --> 00:12:33,000 Speaker 1: South period, Like what are those critical differences that you're 219 00:12:33,040 --> 00:12:37,760 Speaker 1: gonna get when you're having those conversations with angels and vcs. Yeah, 220 00:12:38,440 --> 00:12:41,880 Speaker 1: term sheets and the terms in general look very different 221 00:12:41,960 --> 00:12:45,560 Speaker 1: in Silicon Valley than they look in Atlanta. And that's 222 00:12:45,600 --> 00:12:47,680 Speaker 1: one of the things that we really wanted to focus 223 00:12:47,760 --> 00:12:50,040 Speaker 1: in on as well, is that you shouldn't have to 224 00:12:50,120 --> 00:12:52,439 Speaker 1: be in Silicon Valley or in New York or in 225 00:12:52,559 --> 00:12:55,160 Speaker 1: Boston to build a great business. You should be able 226 00:12:55,200 --> 00:12:57,559 Speaker 1: to build wherever you have the right network and you 227 00:12:57,679 --> 00:13:00,200 Speaker 1: have the customer base, and you have the town lent 228 00:13:00,679 --> 00:13:04,719 Speaker 1: um wherever is it works for your particular business. And 229 00:13:04,840 --> 00:13:07,160 Speaker 1: so that's one of the things that we've built into 230 00:13:07,240 --> 00:13:10,079 Speaker 1: the model is how do we leverage what's strong about 231 00:13:10,320 --> 00:13:13,240 Speaker 1: the cities that we're in talking about Black people were 232 00:13:13,280 --> 00:13:16,560 Speaker 1: in Atlanta, So how do we leverage what's great about 233 00:13:16,559 --> 00:13:21,800 Speaker 1: Atlanta the influence, the culture, uh right, you know, the 234 00:13:21,880 --> 00:13:25,800 Speaker 1: access to fortunate five companies. How do we leverage all 235 00:13:25,880 --> 00:13:29,040 Speaker 1: of those things to make startups successful here and so 236 00:13:29,679 --> 00:13:32,560 Speaker 1: everywhere that we want to be thin about Detroit, think 237 00:13:32,600 --> 00:13:36,000 Speaker 1: about Atlanta, think about Baltimore, UM, how do we go 238 00:13:36,120 --> 00:13:39,760 Speaker 1: into those cities and really tap into what's already there 239 00:13:40,080 --> 00:13:44,160 Speaker 1: instead of trying to recreate what has been what's worked 240 00:13:44,840 --> 00:13:47,960 Speaker 1: arguably work for Selcon Valley. Let's not try to make 241 00:13:48,080 --> 00:13:50,679 Speaker 1: you know these little mini silicon valleys. Let's try to 242 00:13:50,760 --> 00:13:55,160 Speaker 1: make ecosystems that work for the people there and then 243 00:13:55,200 --> 00:13:58,600 Speaker 1: allow those people to stay there, build their companies there, 244 00:13:59,040 --> 00:14:01,599 Speaker 1: impact the community is there. That's what we want to 245 00:14:01,679 --> 00:14:03,960 Speaker 1: be a part of and what we think our model 246 00:14:04,040 --> 00:14:07,280 Speaker 1: helps facilitate. And sticking with you, you like, there are 247 00:14:07,360 --> 00:14:10,400 Speaker 1: people who come to this conference and are looking to 248 00:14:10,559 --> 00:14:13,720 Speaker 1: invest and maybe they're not sophisticated investors, but they they've 249 00:14:13,720 --> 00:14:15,520 Speaker 1: got a little bit of money, you know, put away, 250 00:14:15,640 --> 00:14:18,720 Speaker 1: or maybe they have high incomes or etcetera. They're looking 251 00:14:18,800 --> 00:14:22,720 Speaker 1: for deals and how should people who have that makeup 252 00:14:23,560 --> 00:14:25,640 Speaker 1: UM dip there? Either I don't even know if it's 253 00:14:26,040 --> 00:14:27,560 Speaker 1: would to say dip their toe in the water because 254 00:14:27,560 --> 00:14:29,520 Speaker 1: you are in you know, once you write that check, 255 00:14:29,560 --> 00:14:31,760 Speaker 1: you just married somebody. Like, how do you learn to 256 00:14:31,840 --> 00:14:33,720 Speaker 1: do this? Like you guys aren't you know, you don't 257 00:14:33,760 --> 00:14:37,440 Speaker 1: have historical VC. You know d n A right, but 258 00:14:37,800 --> 00:14:39,400 Speaker 1: how do you how do you learn how to do this? 259 00:14:39,640 --> 00:14:42,560 Speaker 1: And UM do it in a way where you understand 260 00:14:42,600 --> 00:14:47,120 Speaker 1: that you're gonna make some bad calls. Well, we would 261 00:14:47,200 --> 00:14:49,320 Speaker 1: argue that you should invest in collapse, so we can 262 00:14:49,880 --> 00:14:53,640 Speaker 1: there you go. But you know, one of the things 263 00:14:53,720 --> 00:14:56,240 Speaker 1: that that that I did and in burying usn't have 264 00:14:56,320 --> 00:14:58,800 Speaker 1: done as well is um we got out there, we 265 00:14:58,880 --> 00:15:01,720 Speaker 1: started making writing checks and put in our own capital 266 00:15:02,240 --> 00:15:04,960 Speaker 1: UM at risk to see what is this thing all about? 267 00:15:05,160 --> 00:15:09,880 Speaker 1: So before we started COLLAB, I was experimenting with different 268 00:15:09,920 --> 00:15:13,000 Speaker 1: ways to put together deals with my angel investments and 269 00:15:13,080 --> 00:15:17,000 Speaker 1: then also learning from other funds through LP investments. And 270 00:15:17,120 --> 00:15:19,720 Speaker 1: so the best way to learn is really to put 271 00:15:19,760 --> 00:15:22,200 Speaker 1: some money out there and see what happens. And I 272 00:15:22,280 --> 00:15:26,520 Speaker 1: don't I always tell new investors you should invest like 273 00:15:26,760 --> 00:15:29,200 Speaker 1: this money is not coming back. It's very risky to 274 00:15:29,600 --> 00:15:33,480 Speaker 1: invest in early stage companies. But um, you know, one 275 00:15:33,560 --> 00:15:35,720 Speaker 1: of the ways is just to start even if you're 276 00:15:35,720 --> 00:15:38,920 Speaker 1: starting small with you know, thousands, five thousand, ten thousand 277 00:15:38,960 --> 00:15:42,360 Speaker 1: dollar checks. That's one way. And then I made a 278 00:15:42,440 --> 00:15:44,960 Speaker 1: joke at the beginning about just invest in collab, but 279 00:15:45,080 --> 00:15:48,840 Speaker 1: really we did build a model to get more particularly 280 00:15:48,880 --> 00:15:52,800 Speaker 1: black investors activated and get them more comfortable with the 281 00:15:52,960 --> 00:15:58,560 Speaker 1: idea of investing in early stage technology scalable companies. And 282 00:15:58,760 --> 00:16:00,800 Speaker 1: one of the unique things of out our model is 283 00:16:00,880 --> 00:16:04,440 Speaker 1: that in a typical VC fund structure, if you invest, 284 00:16:04,960 --> 00:16:07,240 Speaker 1: you're expecting that you're not going to see that money 285 00:16:07,880 --> 00:16:10,240 Speaker 1: in the next seven to ten years because you're waiting 286 00:16:10,320 --> 00:16:13,240 Speaker 1: on exits. But in our model, given that we have 287 00:16:13,400 --> 00:16:15,880 Speaker 1: we have this profit share model, we expect to be 288 00:16:15,960 --> 00:16:20,080 Speaker 1: returning capital to our LPs within three years of their investment. 289 00:16:20,520 --> 00:16:23,160 Speaker 1: So just a little difference, but it was really built 290 00:16:23,240 --> 00:16:26,440 Speaker 1: to help activate people that are a little timid to 291 00:16:26,920 --> 00:16:29,680 Speaker 1: put their capital to work in this way. Justin let's 292 00:16:29,720 --> 00:16:31,600 Speaker 1: not even into that profit sharing my life, how does 293 00:16:31,640 --> 00:16:34,160 Speaker 1: that functionally work? So when you get when you find somebody, 294 00:16:34,240 --> 00:16:36,240 Speaker 1: you run into somebody at you know, the gathering spot 295 00:16:36,280 --> 00:16:39,000 Speaker 1: or wherever you at, and they're like, yo, I gotta 296 00:16:39,000 --> 00:16:41,720 Speaker 1: fit the grand you know, just put away to do 297 00:16:41,920 --> 00:16:44,920 Speaker 1: something with like and you're explaining to me, I'm gonna 298 00:16:45,000 --> 00:16:48,400 Speaker 1: make money faster or potentially make some money back faster 299 00:16:48,520 --> 00:16:50,760 Speaker 1: than in that seven to ten you know you're spending. 300 00:16:50,840 --> 00:16:54,720 Speaker 1: Jewel talks about how does that functionally work? That's a 301 00:16:54,760 --> 00:16:57,640 Speaker 1: great question, will Um. It's something that we actually enjoy 302 00:16:57,760 --> 00:17:01,120 Speaker 1: talking about when we're talking to LPs, particularly of the 303 00:17:01,720 --> 00:17:04,600 Speaker 1: more experienced VC path they understand that a little bit more. 304 00:17:04,640 --> 00:17:06,360 Speaker 1: So it's always great to kind of unearthed and peel 305 00:17:06,359 --> 00:17:08,159 Speaker 1: back the layers of what we what we work to 306 00:17:08,240 --> 00:17:12,520 Speaker 1: do UM for for that that investor, for that potential 307 00:17:12,720 --> 00:17:16,200 Speaker 1: limited partner in our company, that LP. What we focus 308 00:17:16,280 --> 00:17:19,000 Speaker 1: on is kind of two key things. One, we still 309 00:17:19,080 --> 00:17:21,680 Speaker 1: need you to be an active limited partner, right, We 310 00:17:21,760 --> 00:17:24,920 Speaker 1: still want you to activate those networks to help you know, 311 00:17:25,280 --> 00:17:29,359 Speaker 1: UM open doors provide pathways for revenue and profitability for 312 00:17:29,440 --> 00:17:32,119 Speaker 1: our companies UM, and so that's kind of the very 313 00:17:32,160 --> 00:17:34,359 Speaker 1: first thing we want to do is we want relationships 314 00:17:34,400 --> 00:17:37,120 Speaker 1: and we want collaboration. And then on the actual fund 315 00:17:37,200 --> 00:17:39,359 Speaker 1: mechanics side of it, what we do is we focus 316 00:17:39,440 --> 00:17:42,760 Speaker 1: on profit sharing and so UM instead of waiting that 317 00:17:42,920 --> 00:17:46,360 Speaker 1: the seven to ten years, as Jewel described UM, when 318 00:17:46,400 --> 00:17:48,920 Speaker 1: there's an When we make an investment, we set terms 319 00:17:49,000 --> 00:17:52,680 Speaker 1: with our target investment with the portfolio company UM, and 320 00:17:52,760 --> 00:17:54,760 Speaker 1: we we set out a time frame of when they 321 00:17:54,760 --> 00:17:57,600 Speaker 1: will actually start to return profits, and as those profits 322 00:17:57,640 --> 00:18:02,280 Speaker 1: return through our investment vehicle, we then distribute directly back 323 00:18:02,320 --> 00:18:05,400 Speaker 1: to the LPs. And one of the really cool features 324 00:18:05,440 --> 00:18:08,920 Speaker 1: of our investment model is we also have growth partners 325 00:18:09,359 --> 00:18:11,679 Speaker 1: UM and that those growth partners are largely made up 326 00:18:11,720 --> 00:18:14,040 Speaker 1: of our LPs, so again we get to activate them, 327 00:18:14,359 --> 00:18:16,880 Speaker 1: get them really involved in a in a high touch way, 328 00:18:17,440 --> 00:18:20,200 Speaker 1: which also gives them kind of like an angel investor 329 00:18:20,359 --> 00:18:22,960 Speaker 1: level access as far as being on the cap table 330 00:18:23,400 --> 00:18:25,879 Speaker 1: where they can actually take direct profits. So as the 331 00:18:26,640 --> 00:18:31,520 Speaker 1: returns to come into UM the return to the fund, 332 00:18:31,960 --> 00:18:34,240 Speaker 1: they actually will get a portion of their profit share 333 00:18:34,280 --> 00:18:39,280 Speaker 1: directly to them, which again increases their potential upside UM 334 00:18:39,400 --> 00:18:42,560 Speaker 1: and gets again makes that that that access, they have, 335 00:18:42,880 --> 00:18:45,280 Speaker 1: the work they're willing to do, and actually can compensate 336 00:18:45,320 --> 00:18:48,640 Speaker 1: them much sooner than sevent teen years out. Verry, let's 337 00:18:48,680 --> 00:18:51,880 Speaker 1: back up like on the how this building a fund 338 00:18:51,920 --> 00:18:54,159 Speaker 1: actually works. I would imagine there's people here who are 339 00:18:54,240 --> 00:18:57,200 Speaker 1: not like sophisticated, you know, in an investment only on 340 00:18:57,320 --> 00:19:00,640 Speaker 1: the investor side of the table, but maybe just old founders. 341 00:19:01,080 --> 00:19:03,560 Speaker 1: But when you are starting your phone, like you're you're 342 00:19:03,600 --> 00:19:07,280 Speaker 1: starting your startup, You're you're pitching the people to give 343 00:19:07,320 --> 00:19:09,080 Speaker 1: you money so you can pitch so you can give 344 00:19:09,080 --> 00:19:11,840 Speaker 1: the money away. Right you talk to me about how 345 00:19:11,960 --> 00:19:15,200 Speaker 1: this how this works as starting a startup, which is 346 00:19:15,240 --> 00:19:20,119 Speaker 1: your fund in this respect, Yeah, it's it's super different 347 00:19:20,280 --> 00:19:22,600 Speaker 1: than selling the widget, right like, uh, you know we 348 00:19:22,720 --> 00:19:24,720 Speaker 1: were raising the raising for the ma Sria. You know, 349 00:19:24,720 --> 00:19:28,480 Speaker 1: I walk in, I would make people drink, touch the technology. 350 00:19:28,720 --> 00:19:30,639 Speaker 1: You know, they're and all and they're like, oh this 351 00:19:30,720 --> 00:19:33,520 Speaker 1: thing really works, um, you know, and so you have 352 00:19:33,680 --> 00:19:37,320 Speaker 1: that excitement. And now you walk into a room and 353 00:19:38,000 --> 00:19:39,840 Speaker 1: or I guess nobody's walking in the rooms right now, 354 00:19:39,960 --> 00:19:44,040 Speaker 1: but you have into a zoom um and you say, hey, 355 00:19:44,320 --> 00:19:46,520 Speaker 1: I need you to give me money for some stuff. 356 00:19:46,560 --> 00:19:48,480 Speaker 1: Is I don't even know it's come out yet, right like, 357 00:19:48,480 --> 00:19:51,320 Speaker 1: because I'm gonna make investment this money and you know, 358 00:19:53,000 --> 00:19:54,800 Speaker 1: like I don't even know if this entrepreneur is entrepreneur 359 00:19:54,880 --> 00:19:58,480 Speaker 1: might still be sitting you know in you know, North Carolina. 360 00:19:58,560 --> 00:20:00,400 Speaker 1: A and T is a student right now, we don't 361 00:20:00,400 --> 00:20:03,600 Speaker 1: know what they're gonna do right, and so that's one 362 00:20:03,640 --> 00:20:05,800 Speaker 1: of the more difficult parts. But I think just as 363 00:20:05,840 --> 00:20:08,560 Speaker 1: far as getting a fund off the ground, one of 364 00:20:08,640 --> 00:20:11,399 Speaker 1: the things I love about our team is that we're operators, right, Like, 365 00:20:11,560 --> 00:20:17,159 Speaker 1: this is what we do. We go into systems or 366 00:20:17,560 --> 00:20:19,399 Speaker 1: you know, industries, and we say, hey, there is a 367 00:20:19,520 --> 00:20:21,720 Speaker 1: gap here, there is a problem. And so if you 368 00:20:21,800 --> 00:20:24,920 Speaker 1: even comb through our website, we don't even mentor mentioned 369 00:20:24,960 --> 00:20:29,040 Speaker 1: ourselves venture capitalists. We call ourselves capital entrepreneurs. Like we 370 00:20:29,240 --> 00:20:32,800 Speaker 1: saw a gap. But there's this big economic gap between 371 00:20:33,240 --> 00:20:35,359 Speaker 1: people that get funded by bank loans and people that 372 00:20:35,440 --> 00:20:38,320 Speaker 1: get venture capital and it's eighty three cough, and put 373 00:20:38,320 --> 00:20:40,000 Speaker 1: out this report a couple of years ago that eight 374 00:20:40,119 --> 00:20:42,960 Speaker 1: three percent of businesses don't fit those two ways of 375 00:20:43,040 --> 00:20:45,760 Speaker 1: getting capital. So as an entrepreneur, you look at it 376 00:20:46,200 --> 00:20:48,520 Speaker 1: and you say, man, that's a big economic gap that 377 00:20:48,680 --> 00:20:51,239 Speaker 1: nobody's looking at right now. And so like, we can 378 00:20:51,320 --> 00:20:53,960 Speaker 1: go build something that takes advantage of that. And not 379 00:20:54,160 --> 00:20:56,200 Speaker 1: only could we do that, but a lot of black 380 00:20:56,240 --> 00:20:58,280 Speaker 1: companies fit in that gap as well. So not only 381 00:20:58,320 --> 00:21:02,000 Speaker 1: could we take advantages at economic opportunity, we can also 382 00:21:02,160 --> 00:21:03,800 Speaker 1: do it in a way that's really good for our 383 00:21:03,840 --> 00:21:06,879 Speaker 1: community and build some wealth and start printing black millionaires 384 00:21:07,160 --> 00:21:09,399 Speaker 1: through this model. And so when you look at it 385 00:21:09,560 --> 00:21:13,359 Speaker 1: that way from entrepreneurial perspective, we've basically put ourselves in 386 00:21:13,400 --> 00:21:16,840 Speaker 1: a position that when we walk into investor rooms, now 387 00:21:17,320 --> 00:21:21,280 Speaker 1: we're not competing with the same funds that are have 388 00:21:21,440 --> 00:21:24,600 Speaker 1: the same exact traditional model they're coming in and now 389 00:21:24,680 --> 00:21:27,680 Speaker 1: it's just like, hey, will you have model A and 390 00:21:28,440 --> 00:21:30,600 Speaker 1: such and such. You have a point in one right, 391 00:21:30,680 --> 00:21:32,320 Speaker 1: like if you're you're going out to the same people 392 00:21:32,359 --> 00:21:35,000 Speaker 1: with the same model. We for ourselves in the position 393 00:21:35,040 --> 00:21:37,920 Speaker 1: as entrepreneurs that we're pitching a widget now like we're 394 00:21:37,960 --> 00:21:40,119 Speaker 1: coming into and we have this new shiny thing. You 395 00:21:40,119 --> 00:21:42,840 Speaker 1: should be investing in this model like and you all 396 00:21:42,960 --> 00:21:45,680 Speaker 1: and then you should be investing in this dope as 397 00:21:45,760 --> 00:21:49,320 Speaker 1: team of operators that has proven themselves. And so we're 398 00:21:49,400 --> 00:21:52,000 Speaker 1: really we're now we've we've gotten ourselves comfortable because we're 399 00:21:52,000 --> 00:21:54,480 Speaker 1: pitching like founders. Now we were walking in and so 400 00:21:54,560 --> 00:21:56,920 Speaker 1: we're not pitching like a traditional VC will walk in 401 00:21:57,320 --> 00:21:59,600 Speaker 1: to go raise capital for funds. As you can see 402 00:21:59,640 --> 00:22:01,680 Speaker 1: this get some excited because now we we're like we 403 00:22:01,880 --> 00:22:20,840 Speaker 1: put ourselves in the dome to make ourselves successful. Season 404 00:22:20,880 --> 00:22:23,000 Speaker 1: two of the Black Tech Green Money Podcast is brought 405 00:22:23,040 --> 00:22:25,480 Speaker 1: to you by Lexus and the new Lexus I S 406 00:22:26,000 --> 00:22:29,199 Speaker 1: with an available track, tune V six engine and responsive handling. 407 00:22:29,480 --> 00:22:31,399 Speaker 1: The new I S went all in to deliver your 408 00:22:31,440 --> 00:22:35,080 Speaker 1: style and performance. See how when you experience amazing at 409 00:22:35,119 --> 00:22:39,600 Speaker 1: your Alexus dealer. Every investor is looking for specific things 410 00:22:39,640 --> 00:22:42,840 Speaker 1: when they think about putting money in the startup. Maybe 411 00:22:42,880 --> 00:22:45,960 Speaker 1: when they're vetting an opportunity, they're looking at found a pedigree, 412 00:22:46,960 --> 00:22:50,879 Speaker 1: maybe considering the viability of the tech. Maybe they have 413 00:22:50,960 --> 00:22:52,959 Speaker 1: a fear of missing out on the next Google. Who 414 00:22:53,040 --> 00:22:57,480 Speaker 1: knows for collapse capital, what sparks they're interested enough to 415 00:22:57,520 --> 00:23:00,600 Speaker 1: take a meeting with the startler founder, particularly the earliest 416 00:23:00,640 --> 00:23:02,760 Speaker 1: stage when there isn't a ton of proof of concept. 417 00:23:04,200 --> 00:23:07,320 Speaker 1: Justin Talkins speaks on that. Yeah, that's a great question 418 00:23:07,400 --> 00:23:10,040 Speaker 1: and it is definitely the sweet spot. This is because 419 00:23:10,080 --> 00:23:13,280 Speaker 1: this is where I love to operate. UM just personally, 420 00:23:14,480 --> 00:23:16,960 Speaker 1: I think we look for two key things. Where I 421 00:23:17,000 --> 00:23:20,639 Speaker 1: look for two key things. One is great right, so tenacity, 422 00:23:20,760 --> 00:23:24,240 Speaker 1: How do you your ability to solve problems and take 423 00:23:24,280 --> 00:23:26,800 Speaker 1: any advice and guidance and being able to discern and 424 00:23:26,840 --> 00:23:28,520 Speaker 1: that that will take some work and some getting used to, 425 00:23:28,640 --> 00:23:31,159 Speaker 1: especially for early States companies, but I do look for 426 00:23:31,880 --> 00:23:34,200 Speaker 1: that and the founders were they able to solve a 427 00:23:34,320 --> 00:23:36,240 Speaker 1: problem or how far they were able to get and 428 00:23:36,280 --> 00:23:38,880 Speaker 1: trying to solve their problem before they look for outside help. 429 00:23:39,200 --> 00:23:42,080 Speaker 1: So that's one thing, right, That's that creativity. And then 430 00:23:42,119 --> 00:23:44,520 Speaker 1: the other thing is you know, as as now a 431 00:23:44,840 --> 00:23:47,600 Speaker 1: partner in an investment firm, we're looking for kind of 432 00:23:47,640 --> 00:23:50,639 Speaker 1: similar personality traits and characteristics as it relates to our 433 00:23:50,680 --> 00:23:52,840 Speaker 1: community and the impact that we're trying to to have. 434 00:23:53,359 --> 00:23:54,960 Speaker 1: So one of the things one of the signals for 435 00:23:55,080 --> 00:23:58,119 Speaker 1: us is you know, yes, wealth comes with a lot 436 00:23:58,200 --> 00:24:00,800 Speaker 1: of benefits, right, so yes, you can go and buy 437 00:24:00,880 --> 00:24:04,240 Speaker 1: homes and nicer cars and you know things. But more importantly, 438 00:24:04,359 --> 00:24:06,440 Speaker 1: what is it that why are you doing this work 439 00:24:06,520 --> 00:24:08,200 Speaker 1: and what is it that you ultimately want to do 440 00:24:08,720 --> 00:24:11,600 Speaker 1: with the wealth that you're generating for you, your company, 441 00:24:11,640 --> 00:24:14,800 Speaker 1: in the community. That's important to me as well, um, 442 00:24:14,920 --> 00:24:17,480 Speaker 1: and that's why I started with social impact with you know, 443 00:24:17,640 --> 00:24:19,680 Speaker 1: when I did the work with Potty Nation, was I 444 00:24:19,800 --> 00:24:21,720 Speaker 1: really really wanted to focus on folks who wanted to 445 00:24:21,800 --> 00:24:24,920 Speaker 1: solve tough problems and if we made money along the way, 446 00:24:25,160 --> 00:24:26,920 Speaker 1: that's wonderful because we can do things with that, But 447 00:24:27,040 --> 00:24:29,400 Speaker 1: more importantly, what is the impact and the long term 448 00:24:29,440 --> 00:24:31,199 Speaker 1: impact of the work that we're doing. So it's more 449 00:24:31,240 --> 00:24:34,359 Speaker 1: about legacy. So so Jue, I think about, you know, 450 00:24:34,440 --> 00:24:36,720 Speaker 1: when I hear an answer like justice, like, how do 451 00:24:36,840 --> 00:24:40,000 Speaker 1: I show you that grit? When I'm standing I'm walking 452 00:24:40,040 --> 00:24:42,720 Speaker 1: in the hall during afro Tech conference and I see 453 00:24:42,800 --> 00:24:45,159 Speaker 1: you walking by, like, how do I how do I 454 00:24:45,240 --> 00:24:48,320 Speaker 1: get your attention in that moment where you're like, oh, 455 00:24:48,840 --> 00:24:50,920 Speaker 1: you know what we should talk after this? How do 456 00:24:51,040 --> 00:24:54,800 Speaker 1: how do you do that? You know, it's it's hard 457 00:24:54,840 --> 00:24:57,600 Speaker 1: to do, especially at a conference like afro Tech. I'm 458 00:24:57,840 --> 00:25:01,160 Speaker 1: you know, given that we're now all online, I'm assuming 459 00:25:01,200 --> 00:25:03,119 Speaker 1: there will be new and innovative ways that people can 460 00:25:03,200 --> 00:25:06,280 Speaker 1: kind of get that that attention. But to me, it's 461 00:25:06,320 --> 00:25:10,480 Speaker 1: not about that initial meeting. I mean, that's great. You 462 00:25:10,600 --> 00:25:13,680 Speaker 1: need to be able to make yourself known and tell 463 00:25:13,800 --> 00:25:15,840 Speaker 1: somebody in a split second what you're working on and 464 00:25:15,880 --> 00:25:18,959 Speaker 1: why they should care. But it's really about the follow up. 465 00:25:19,520 --> 00:25:21,840 Speaker 1: I think that is the critical point that people need 466 00:25:21,920 --> 00:25:25,480 Speaker 1: to pay attention to, is Okay, you've gotten my you 467 00:25:25,640 --> 00:25:27,840 Speaker 1: met me you know how to do touch with me. 468 00:25:28,119 --> 00:25:30,480 Speaker 1: But then are what are you doing after and are 469 00:25:30,600 --> 00:25:35,440 Speaker 1: you showcasing over time that you're you're on this, you're 470 00:25:35,560 --> 00:25:38,960 Speaker 1: making progress with me or without me, You're still making 471 00:25:39,000 --> 00:25:41,240 Speaker 1: it happen. That's the big thing. I think a lot 472 00:25:41,280 --> 00:25:45,560 Speaker 1: of people miss because they're waiting on somebody to show 473 00:25:45,640 --> 00:25:48,280 Speaker 1: them the way or to give them something and and 474 00:25:48,600 --> 00:25:51,480 Speaker 1: being stagnant. But the people that really impressed me, and 475 00:25:51,520 --> 00:25:54,520 Speaker 1: the people that we've invested in so far are the 476 00:25:54,640 --> 00:25:58,320 Speaker 1: ones who are able to showcase over time. This is 477 00:25:58,520 --> 00:26:00,560 Speaker 1: this is where you met me. Now out it's a 478 00:26:00,600 --> 00:26:02,119 Speaker 1: month later, and I'm a little bit further. I'm a 479 00:26:02,119 --> 00:26:04,120 Speaker 1: little bit further. I'm a little bit further, and I'm 480 00:26:04,240 --> 00:26:08,520 Speaker 1: telling you I'm dictating that progress over time. That to 481 00:26:08,640 --> 00:26:10,800 Speaker 1: me is what gets me excited. It makes me like, okay, 482 00:26:10,880 --> 00:26:12,720 Speaker 1: well you're on it. Let me get let me get 483 00:26:12,760 --> 00:26:15,800 Speaker 1: on your train because you're going somewhere. Um, So that's 484 00:26:15,840 --> 00:26:18,119 Speaker 1: I think that's what we look for as well. You 485 00:26:18,200 --> 00:26:22,120 Speaker 1: know you also had security walking around after you gotta 486 00:26:22,119 --> 00:26:30,160 Speaker 1: get to her security before you uh six six to nine. Yes, 487 00:26:30,720 --> 00:26:36,080 Speaker 1: you gotta give passing boys and just just I think 488 00:26:36,119 --> 00:26:39,120 Speaker 1: about um, you know this is Reid Hoffman Court says, 489 00:26:39,160 --> 00:26:41,040 Speaker 1: you know, if you're not embarrassed by the first launch 490 00:26:41,040 --> 00:26:42,560 Speaker 1: of your your first person of your product, and you 491 00:26:42,680 --> 00:26:45,399 Speaker 1: launched too late, and you know, when you think about, 492 00:26:45,560 --> 00:26:49,680 Speaker 1: you know, your full stack entrepreneur, full stack engineer, what 493 00:26:50,280 --> 00:26:54,520 Speaker 1: what are your thoughts on when you're evaluating, you know, 494 00:26:54,720 --> 00:26:56,879 Speaker 1: some tech that somebody is pitching you to invest in 495 00:26:57,800 --> 00:27:00,840 Speaker 1: the technical viability of this thing? What are you looking 496 00:27:00,920 --> 00:27:04,359 Speaker 1: for in that that stack, that code, that whatever that 497 00:27:04,880 --> 00:27:07,920 Speaker 1: you know, its ability to actually make it in the world. 498 00:27:07,960 --> 00:27:09,960 Speaker 1: Because I imagine if I'm buried, you know what I'm 499 00:27:10,000 --> 00:27:12,520 Speaker 1: and I had that machine, you know, and I'm taking 500 00:27:12,560 --> 00:27:14,879 Speaker 1: this to to this to sweet that I'm going to 501 00:27:15,000 --> 00:27:17,800 Speaker 1: go show some people I'm nervous, armed, pristons, sweating, and 502 00:27:17,840 --> 00:27:21,680 Speaker 1: I'm like, please work today, right because you just it's 503 00:27:21,760 --> 00:27:24,840 Speaker 1: just it's tech, right and and so, and you haven't 504 00:27:25,040 --> 00:27:28,159 Speaker 1: and you haven't always mastered it, especially in those early stages. 505 00:27:28,240 --> 00:27:31,000 Speaker 1: So when you're building technology, justin like, how are you 506 00:27:31,160 --> 00:27:34,879 Speaker 1: as an as an engineer looking at that that that 507 00:27:35,040 --> 00:27:37,119 Speaker 1: stack to make sure that what they say they can 508 00:27:37,160 --> 00:27:41,280 Speaker 1: do they can actually do. Yeah, great question. I think 509 00:27:41,320 --> 00:27:46,000 Speaker 1: I've ever been asked this questions, I really appreciate it. UM. One. 510 00:27:47,040 --> 00:27:49,920 Speaker 1: The first thing is I'm self taught. So you know, 511 00:27:50,280 --> 00:27:52,760 Speaker 1: I taught myself how to design. I taught myself how 512 00:27:52,800 --> 00:27:56,239 Speaker 1: to the script and build databases and like everything I've 513 00:27:56,320 --> 00:27:59,000 Speaker 1: I've ever learned UM, I learned it on my own. 514 00:27:59,359 --> 00:28:02,080 Speaker 1: UM and so of I give a lot of grace 515 00:28:02,760 --> 00:28:06,280 Speaker 1: um to two products and to two first iterations and 516 00:28:06,359 --> 00:28:08,960 Speaker 1: early versions of products, because I understand that if you 517 00:28:09,080 --> 00:28:11,320 Speaker 1: piece this together with a no code or local solution, 518 00:28:11,600 --> 00:28:13,800 Speaker 1: or you may have gone to two or three developers 519 00:28:13,920 --> 00:28:17,480 Speaker 1: and that language barrier like like sometimes figuratively and literally 520 00:28:17,560 --> 00:28:20,320 Speaker 1: depending on where your development team is. I understand those 521 00:28:20,400 --> 00:28:23,920 Speaker 1: things because I've dealt with those things firsthand. I've cleaned 522 00:28:24,000 --> 00:28:26,840 Speaker 1: up code. I'm sure I've delivered message code that someone 523 00:28:26,880 --> 00:28:28,560 Speaker 1: else had to come behind and clean up as well. 524 00:28:28,800 --> 00:28:31,720 Speaker 1: UM And so I think that the first thing that 525 00:28:31,800 --> 00:28:35,800 Speaker 1: I look for is the value that you're providing actually 526 00:28:35,880 --> 00:28:38,360 Speaker 1: as the end product and more so than the actual 527 00:28:38,400 --> 00:28:40,960 Speaker 1: functional parts of the product, because I understand that with 528 00:28:41,080 --> 00:28:43,440 Speaker 1: the right team and the right capital, we can always 529 00:28:43,480 --> 00:28:46,280 Speaker 1: re engineer. We can re factor and rebuild it um 530 00:28:46,400 --> 00:28:48,880 Speaker 1: and and get it to a more stable, stable or 531 00:28:48,920 --> 00:28:51,400 Speaker 1: scalable place. So the first thing I do is just 532 00:28:51,880 --> 00:28:54,400 Speaker 1: how far did you get? Like, what did you learn? 533 00:28:54,480 --> 00:28:55,920 Speaker 1: What were you willing to learn? What would you may 534 00:28:55,920 --> 00:28:58,920 Speaker 1: be willing to do on your own um to to 535 00:28:59,120 --> 00:29:01,760 Speaker 1: get you as a as you could go before you 536 00:29:01,840 --> 00:29:04,720 Speaker 1: brought in that third engineer or before you committed to 537 00:29:04,800 --> 00:29:08,760 Speaker 1: a CTO. I don't want that won't necessarily profounders to 538 00:29:08,840 --> 00:29:10,840 Speaker 1: run around and bump their knees all the time, but 539 00:29:11,000 --> 00:29:14,440 Speaker 1: I do appreciate and respect you know, being able to 540 00:29:14,520 --> 00:29:18,560 Speaker 1: piece it together and ultimately provide value. And if somebody's 541 00:29:18,600 --> 00:29:21,400 Speaker 1: willing to pay you for a product that is imperfect, 542 00:29:21,800 --> 00:29:23,760 Speaker 1: that to me is a is a great signal that 543 00:29:23,800 --> 00:29:26,440 Speaker 1: there's something really really viable and big here. Because if 544 00:29:26,480 --> 00:29:28,800 Speaker 1: someone who're willing to pay you for something that that 545 00:29:29,120 --> 00:29:32,360 Speaker 1: that breaks down occasionally but still provides that that that 546 00:29:32,760 --> 00:29:35,320 Speaker 1: means that the need is strong there and that's a 547 00:29:35,400 --> 00:29:38,320 Speaker 1: great company to be working on and build. You know, Jue, 548 00:29:38,400 --> 00:29:40,920 Speaker 1: I gotta follow up with that response because I know 549 00:29:41,120 --> 00:29:43,120 Speaker 1: when you build part pick in the beginning, like you 550 00:29:43,240 --> 00:29:45,720 Speaker 1: have contractors working on this now and being on the 551 00:29:45,800 --> 00:29:48,560 Speaker 1: other side of the table now, like what what are 552 00:29:48,600 --> 00:29:52,200 Speaker 1: your thoughts on technical contractors. Do you find yourself as 553 00:29:52,240 --> 00:29:55,640 Speaker 1: an investor, you know, perhaps giving preference to people who 554 00:29:55,760 --> 00:29:58,280 Speaker 1: have internal teams. And here's why I ask is because 555 00:29:58,840 --> 00:30:01,920 Speaker 1: I do believe also there's value to having somebody come 556 00:30:02,000 --> 00:30:05,320 Speaker 1: to you who's been able to engage smart people and 557 00:30:05,440 --> 00:30:09,320 Speaker 1: sell a team to coming along this journey with them. Right, 558 00:30:09,400 --> 00:30:10,840 Speaker 1: So what do you What are your thoughts on that. 559 00:30:13,280 --> 00:30:15,480 Speaker 1: Part of the answer is it kind of depends on 560 00:30:15,600 --> 00:30:20,080 Speaker 1: what they're building. If they're building something that is where 561 00:30:20,160 --> 00:30:22,600 Speaker 1: the technology is just a means to the end and 562 00:30:22,680 --> 00:30:25,200 Speaker 1: it doesn't matter so much that's not the core of 563 00:30:25,240 --> 00:30:28,160 Speaker 1: what they're doing, then I don't think it's a bad 564 00:30:28,240 --> 00:30:32,400 Speaker 1: thing for people to engage teams or contractors. If it's 565 00:30:32,720 --> 00:30:36,600 Speaker 1: really just a you know, part of a solution, it 566 00:30:36,880 --> 00:30:39,040 Speaker 1: is something like what we were building at Part Pick, 567 00:30:39,120 --> 00:30:42,200 Speaker 1: where the core of what we built was the technology, 568 00:30:42,960 --> 00:30:46,280 Speaker 1: then I'm expecting the person to be able to attract 569 00:30:46,360 --> 00:30:51,320 Speaker 1: that first early core CTO or technical founder because it's 570 00:30:51,520 --> 00:30:54,720 Speaker 1: it's core to what what they're building. So that's the 571 00:30:54,760 --> 00:30:56,800 Speaker 1: first thing I think about is what are you What 572 00:30:56,920 --> 00:30:58,959 Speaker 1: are you building? Is it something that you can pull 573 00:30:59,000 --> 00:31:01,360 Speaker 1: off the shelf, or are you trying to build a 574 00:31:01,360 --> 00:31:05,920 Speaker 1: new technology that actually needs a dedicated uh engineer you know, 575 00:31:06,400 --> 00:31:11,080 Speaker 1: expert in house to build it um. So that's one 576 00:31:11,120 --> 00:31:13,240 Speaker 1: thing and then the other piece to your point, I 577 00:31:13,360 --> 00:31:16,960 Speaker 1: think that first person or a few people that you attract, 578 00:31:17,080 --> 00:31:20,280 Speaker 1: that says a lot about you as a founder. And 579 00:31:20,360 --> 00:31:23,520 Speaker 1: you're gonna have doing that over and over again, attracting 580 00:31:24,000 --> 00:31:26,760 Speaker 1: folks to join your team, you know, attracting investors if 581 00:31:26,760 --> 00:31:29,640 Speaker 1: you decide to go that route, attracting customers. So I 582 00:31:29,720 --> 00:31:32,760 Speaker 1: think that that early that's an early indicator of how 583 00:31:32,920 --> 00:31:35,560 Speaker 1: good of a salesperson you are to bring people onto 584 00:31:35,640 --> 00:31:39,320 Speaker 1: the team. And yeah, so those are the two things 585 00:31:39,360 --> 00:31:42,320 Speaker 1: that I consider is is it crucial to the product 586 00:31:42,600 --> 00:31:46,880 Speaker 1: or to the business? And then what am I able 587 00:31:46,920 --> 00:31:49,040 Speaker 1: to learn about the founder as far as what they've 588 00:31:49,040 --> 00:31:52,520 Speaker 1: been able to attract to them? I think people cann 589 00:31:52,560 --> 00:31:55,400 Speaker 1: tell a lot more about if they looked at part Pick, 590 00:31:55,840 --> 00:31:58,440 Speaker 1: they could actually say tell a lot more about the 591 00:31:58,520 --> 00:32:01,960 Speaker 1: business by looking at folks like naturally, Dr Nashally Sea 592 00:32:02,040 --> 00:32:05,320 Speaker 1: Fist and the fact that we have five PhD s 593 00:32:05,360 --> 00:32:08,080 Speaker 1: from Georgia Tech that we're on our team. If they 594 00:32:08,120 --> 00:32:10,120 Speaker 1: were looking they would be like, Okay, there must be 595 00:32:10,240 --> 00:32:13,160 Speaker 1: something here that all these people have decided to spend 596 00:32:13,200 --> 00:32:15,960 Speaker 1: time in this way. So that's how I think about it. 597 00:32:16,120 --> 00:32:18,480 Speaker 1: But I again to Justin's point, I do have grace 598 00:32:18,560 --> 00:32:25,520 Speaker 1: because I had to crawl through some time the team, 599 00:32:25,600 --> 00:32:28,040 Speaker 1: so I do understand in that first year. So people 600 00:32:28,120 --> 00:32:31,240 Speaker 1: trying to just figure that part out, you know, a berry. 601 00:32:31,360 --> 00:32:34,720 Speaker 1: This may be um a very general question to very 602 00:32:34,760 --> 00:32:38,040 Speaker 1: specific cases, but like as a rule of thumb, um, 603 00:32:38,280 --> 00:32:41,160 Speaker 1: what is a good answer to what are you going 604 00:32:41,200 --> 00:32:43,080 Speaker 1: to do with this capital when I write you a check? 605 00:32:43,560 --> 00:32:47,880 Speaker 1: Oh that's a good one. Uh Uh, There there are 606 00:32:48,160 --> 00:32:52,360 Speaker 1: several good answers, um, And I think it's really to 607 00:32:52,520 --> 00:32:55,080 Speaker 1: your points of general question, right, I think different companies 608 00:32:55,640 --> 00:32:59,560 Speaker 1: need different things. From a general perspective, I think just 609 00:32:59,680 --> 00:33:03,719 Speaker 1: have a plan, like even if it's not a dent, right, 610 00:33:04,280 --> 00:33:07,800 Speaker 1: like just showing me that you literally sought through. Like 611 00:33:08,080 --> 00:33:11,000 Speaker 1: I'm gonna need to hire these four people, and they're 612 00:33:11,040 --> 00:33:14,800 Speaker 1: gonna cost in my region, right, the average developer costs 613 00:33:15,200 --> 00:33:17,560 Speaker 1: eighty thou dollars a year, and then I'm gonna need 614 00:33:17,640 --> 00:33:19,840 Speaker 1: to sales associates. They're gonna be a commissioned for this 615 00:33:20,000 --> 00:33:22,080 Speaker 1: much because I can't afford to bring in the like 616 00:33:22,440 --> 00:33:24,920 Speaker 1: the fact that you went through that exercise, the fact 617 00:33:25,000 --> 00:33:27,479 Speaker 1: that you went through into my a WS costs are 618 00:33:27,520 --> 00:33:29,880 Speaker 1: going to vote from here to here, and that's to 619 00:33:30,000 --> 00:33:33,280 Speaker 1: your customer, right, like the fact that you sought through 620 00:33:33,440 --> 00:33:35,360 Speaker 1: these things and you can put in front of me 621 00:33:35,880 --> 00:33:39,040 Speaker 1: and show me that your mind in the right place. 622 00:33:39,520 --> 00:33:41,840 Speaker 1: But at the same time, maybe your first time founder, 623 00:33:42,400 --> 00:33:44,640 Speaker 1: you know you're you're early in your business that we 624 00:33:44,840 --> 00:33:48,240 Speaker 1: we invest pretty early, uh you know, post product the 625 00:33:48,360 --> 00:33:49,960 Speaker 1: kind of pre profits, so we want you to have 626 00:33:50,160 --> 00:33:52,520 Speaker 1: the justice point like maybe one or two customers, but 627 00:33:52,600 --> 00:33:54,360 Speaker 1: you don't have to have a hundred thousand dollars a 628 00:33:54,400 --> 00:33:58,400 Speaker 1: month in revenue. So where we invested early too, that's 629 00:33:58,560 --> 00:34:01,120 Speaker 1: up to us as good to come in and say 630 00:34:01,320 --> 00:34:04,080 Speaker 1: there's something here and the way that they've just put 631 00:34:04,160 --> 00:34:07,120 Speaker 1: the work in, we can polish it. Make sure we 632 00:34:07,200 --> 00:34:09,200 Speaker 1: sit down then and say you don't need four developers, 633 00:34:09,239 --> 00:34:11,520 Speaker 1: you need seven because you forgot about the testing team 634 00:34:11,880 --> 00:34:13,680 Speaker 1: and you know, so like we can go in and 635 00:34:13,800 --> 00:34:16,239 Speaker 1: help them model it out and polish it. But this 636 00:34:16,400 --> 00:34:19,360 Speaker 1: gets back to also how you see Greek right, because 637 00:34:19,440 --> 00:34:22,480 Speaker 1: now you're coming to me and you know this was me, right, 638 00:34:22,520 --> 00:34:24,880 Speaker 1: I was the first time founder, never been around entrepreneurs 639 00:34:24,880 --> 00:34:27,359 Speaker 1: in my life. And you know, but when I came 640 00:34:27,400 --> 00:34:30,759 Speaker 1: with my dad, I had probably too much stuff, right 641 00:34:30,760 --> 00:34:32,480 Speaker 1: because I was just spending time like I probably need 642 00:34:32,560 --> 00:34:33,879 Speaker 1: to know this and I need to have this chart, 643 00:34:34,080 --> 00:34:36,200 Speaker 1: I need to have this worked out, and half it 644 00:34:36,320 --> 00:34:39,960 Speaker 1: was problem ship, right, I don't know um. But at 645 00:34:40,000 --> 00:34:43,239 Speaker 1: the same time I was up like the middle of 646 00:34:43,280 --> 00:34:46,040 Speaker 1: the night, tishly research and trying to figure out what 647 00:34:46,160 --> 00:34:49,319 Speaker 1: I thought I needed UM. And so I said, it's 648 00:34:49,320 --> 00:34:51,239 Speaker 1: hard as you get into specific to say I need 649 00:34:51,320 --> 00:34:54,160 Speaker 1: to I need you to say these three things. But 650 00:34:54,680 --> 00:34:58,320 Speaker 1: the fact that you have a map and you also 651 00:34:58,400 --> 00:35:02,160 Speaker 1: have a destination to show me when you give me 652 00:35:02,239 --> 00:35:05,000 Speaker 1: this five hundred thousand dollars, I'm gonna do these things 653 00:35:05,080 --> 00:35:07,960 Speaker 1: on this map, and my destination is over here, and 654 00:35:08,040 --> 00:35:10,239 Speaker 1: I'm gonna be profitable because it's gonna get me to 655 00:35:10,280 --> 00:35:12,480 Speaker 1: this and many customers and my customers tave you this 656 00:35:12,640 --> 00:35:15,959 Speaker 1: much of month. The that's the way it man change 657 00:35:16,000 --> 00:35:17,400 Speaker 1: that you get to it. But at least we know 658 00:35:17,480 --> 00:35:19,440 Speaker 1: where we're trying to go. And it just shows me 659 00:35:19,520 --> 00:35:20,920 Speaker 1: that you're a founder that I want to work with, 660 00:35:21,200 --> 00:35:23,480 Speaker 1: that I can sit down at audiate with and get 661 00:35:23,520 --> 00:35:25,479 Speaker 1: on the white board, like, that's the kind of stuff 662 00:35:25,480 --> 00:35:28,400 Speaker 1: that's excited me. So Jewel, is is it important to 663 00:35:28,520 --> 00:35:32,080 Speaker 1: various point that that five hundred thousand dollars I'm gonna 664 00:35:32,160 --> 00:35:33,960 Speaker 1: take in over two years, that's gonna take me the 665 00:35:34,000 --> 00:35:36,680 Speaker 1: profitability or does that five Is it okay that that 666 00:35:36,719 --> 00:35:39,359 Speaker 1: five five hundred thousand dollars takes me to the next 667 00:35:39,440 --> 00:35:42,719 Speaker 1: round of funding, because I think a lot of entrepreneurs 668 00:35:42,800 --> 00:35:45,160 Speaker 1: have that pressure, like y'all gotta check. I have to 669 00:35:45,280 --> 00:35:48,279 Speaker 1: bring a return on this round of funding and not 670 00:35:48,440 --> 00:35:52,759 Speaker 1: maybe the next round. That depends on the investor. If 671 00:35:52,840 --> 00:35:56,359 Speaker 1: you're talking to us that collapse, are going to try 672 00:35:56,400 --> 00:35:58,360 Speaker 1: to make a pathway for you to get take that 673 00:35:58,400 --> 00:36:01,080 Speaker 1: five hundred thousand dollars or that first investment and get 674 00:36:01,160 --> 00:36:04,359 Speaker 1: somewhere close to profitability, because that's how our model works, 675 00:36:04,400 --> 00:36:06,959 Speaker 1: and that's what we actually think. We want to build 676 00:36:07,000 --> 00:36:10,160 Speaker 1: businesses that can be profitable and sustainable so that the 677 00:36:10,200 --> 00:36:12,880 Speaker 1: founders don't have to go out and raise more capital 678 00:36:13,160 --> 00:36:16,520 Speaker 1: if they don't want to. That's our model. For a 679 00:36:16,560 --> 00:36:19,960 Speaker 1: different investor, you're gonna get a different answer. Most traditional 680 00:36:20,160 --> 00:36:23,560 Speaker 1: VC investors, profitability is not a focused area. In the 681 00:36:23,680 --> 00:36:28,560 Speaker 1: early first several they actually want you to reinvest any 682 00:36:28,719 --> 00:36:32,400 Speaker 1: any profits back into the business just go for growth. 683 00:36:32,760 --> 00:36:36,920 Speaker 1: So you really have to know who you're talking to. Oh, 684 00:36:37,800 --> 00:36:40,839 Speaker 1: as the entrepreneur is important to know what you want. 685 00:36:41,239 --> 00:36:43,279 Speaker 1: Do you want to build a profitable business or do 686 00:36:43,360 --> 00:36:48,400 Speaker 1: you want to you know, a venture scale, venture backable business. 687 00:36:48,719 --> 00:36:52,640 Speaker 1: So that's the choice, that's that's really good. But like 688 00:36:53,080 --> 00:36:56,400 Speaker 1: in the early stages, like justin like how should I 689 00:36:56,520 --> 00:37:00,480 Speaker 1: then value my company? So how do I set the price? 690 00:37:00,640 --> 00:37:03,759 Speaker 1: Like when do I know if I should set a 691 00:37:03,840 --> 00:37:06,239 Speaker 1: price or I should you know, set a price later 692 00:37:06,440 --> 00:37:08,440 Speaker 1: via a convertible note or as safe for us? Like 693 00:37:08,520 --> 00:37:11,560 Speaker 1: what's the best strategy for thinking about how to price 694 00:37:11,680 --> 00:37:15,480 Speaker 1: a company or not price it? No, that's a great question, um, 695 00:37:15,760 --> 00:37:18,280 Speaker 1: for for our model and for all intents and purposes 696 00:37:18,440 --> 00:37:21,840 Speaker 1: with collab um, it's not necessary that you price around 697 00:37:22,239 --> 00:37:25,000 Speaker 1: um to to barious points. Um, it's important that you 698 00:37:25,120 --> 00:37:27,800 Speaker 1: understand what your costs. Right, So you have a milestone, 699 00:37:27,800 --> 00:37:29,960 Speaker 1: you have your okay rs r KPIs you know it's 700 00:37:29,960 --> 00:37:32,400 Speaker 1: gonna take us get from milestone aid and moustone be 701 00:37:32,480 --> 00:37:35,520 Speaker 1: it's gonna take this much work, effort and costs. Right, 702 00:37:35,600 --> 00:37:37,839 Speaker 1: it's this much amount of this amount of money. Those 703 00:37:37,880 --> 00:37:41,800 Speaker 1: things are important. The value we look at it differently. 704 00:37:42,040 --> 00:37:44,759 Speaker 1: We look at it again as when you choose to 705 00:37:44,840 --> 00:37:49,000 Speaker 1: collap Capital Pathway, you're opting for more ownership of your 706 00:37:49,040 --> 00:37:51,879 Speaker 1: business and you're looking for it to build a sustainable 707 00:37:51,920 --> 00:37:55,600 Speaker 1: business that whether you get another penny from outside investment 708 00:37:55,760 --> 00:37:58,239 Speaker 1: or not. You can employ people in your communities, you 709 00:37:58,320 --> 00:38:00,600 Speaker 1: can cut yourself on a nice style, and you can 710 00:38:00,680 --> 00:38:03,600 Speaker 1: provide for your families and the families of your your 711 00:38:03,640 --> 00:38:07,760 Speaker 1: team members. So our metrics are measurement tool is slightly different. 712 00:38:08,239 --> 00:38:10,600 Speaker 1: Now when you decide to if you decide if you 713 00:38:10,680 --> 00:38:13,600 Speaker 1: own the collap Capital Pathway and you decide that or 714 00:38:13,680 --> 00:38:16,960 Speaker 1: we you know, through work it's revealed that wow, this 715 00:38:17,120 --> 00:38:20,319 Speaker 1: actually is a much bigger business or there's a bigger opportunity. 716 00:38:20,400 --> 00:38:23,640 Speaker 1: If we put this on the adventure the traditional VC pathway, 717 00:38:24,120 --> 00:38:26,000 Speaker 1: then what we can do and what we will work 718 00:38:26,080 --> 00:38:28,880 Speaker 1: with you on is helping you price that round. Right, 719 00:38:28,960 --> 00:38:32,000 Speaker 1: So now you've actually increased the value because you've actually 720 00:38:32,040 --> 00:38:36,040 Speaker 1: focused on building a viable, profitable business. You don't you 721 00:38:36,120 --> 00:38:38,120 Speaker 1: can take the money that you want to take. You 722 00:38:38,200 --> 00:38:41,040 Speaker 1: don't have to be pressured um or feel that that 723 00:38:41,320 --> 00:38:44,560 Speaker 1: that amount of pressure from venture capitalists based on their terms. 724 00:38:44,640 --> 00:38:47,040 Speaker 1: You actually get to set the terms and we'll will 725 00:38:47,080 --> 00:38:49,120 Speaker 1: be happy and glad to do that with you because 726 00:38:49,200 --> 00:38:51,600 Speaker 1: we've a been a part of the business long enough 727 00:38:51,680 --> 00:38:54,440 Speaker 1: to know how the business works and where the profit 728 00:38:54,560 --> 00:38:57,800 Speaker 1: is and where the growth is. Then also those warm 729 00:38:57,880 --> 00:39:01,279 Speaker 1: introductions that people talk about so often red hot, and 730 00:39:01,400 --> 00:39:03,960 Speaker 1: it's really about finding the best investors are gonna help 731 00:39:04,000 --> 00:39:06,560 Speaker 1: you get to that that mouthstone and those exits and 732 00:39:06,640 --> 00:39:09,040 Speaker 1: those acquisitions that we that we all know on the 733 00:39:09,120 --> 00:39:12,040 Speaker 1: VC path you typically we look for while still preserving 734 00:39:12,120 --> 00:39:15,000 Speaker 1: a larger portion, a much larger person portion of the 735 00:39:15,360 --> 00:39:18,120 Speaker 1: equity state of the business. So um, I hope that 736 00:39:18,160 --> 00:39:20,680 Speaker 1: answers the question, but that that is the collab answer 737 00:39:20,800 --> 00:39:24,000 Speaker 1: to that question, Barry, at what stage are you investing 738 00:39:24,280 --> 00:39:28,200 Speaker 1: and and if it's pre a can you define it? 739 00:39:28,280 --> 00:39:30,400 Speaker 1: Because you know you have seed round, you also have 740 00:39:30,560 --> 00:39:32,759 Speaker 1: pre seed round and depending on who you're talking to, 741 00:39:32,840 --> 00:39:35,880 Speaker 1: like okay, what's the difference between the seed and precede? 742 00:39:35,960 --> 00:39:40,160 Speaker 1: Like right, so talking about that, uh, you can call 743 00:39:40,200 --> 00:39:42,760 Speaker 1: it And I don't know everybody's come up with terms 744 00:39:43,160 --> 00:39:46,840 Speaker 1: like it was a seed and then when you know 745 00:39:47,040 --> 00:39:49,360 Speaker 1: seeds got too much like, oh, we need to precede 746 00:39:49,480 --> 00:39:51,920 Speaker 1: and now, but now precedes are a million dollar chick. 747 00:39:52,680 --> 00:39:54,880 Speaker 1: It's all over the place. So the way we define 748 00:39:54,920 --> 00:39:57,920 Speaker 1: it as we want you to be post products. So 749 00:39:58,040 --> 00:40:00,600 Speaker 1: we want to see that you can build something to justice. 750 00:40:01,080 --> 00:40:04,440 Speaker 1: Doesn't have to be the perfect product, but we want 751 00:40:04,480 --> 00:40:08,000 Speaker 1: to tv you can deliver something. And then we would 752 00:40:08,000 --> 00:40:09,960 Speaker 1: also like to see that product in the hands of 753 00:40:10,040 --> 00:40:12,000 Speaker 1: a couple of customers. You know, we we want to 754 00:40:12,040 --> 00:40:14,160 Speaker 1: see a pilot. We want to see, you know, a 755 00:40:14,239 --> 00:40:16,440 Speaker 1: couple of users on your app and you're getting feedback 756 00:40:16,520 --> 00:40:19,279 Speaker 1: and and showing that you can, Like you said, what 757 00:40:19,719 --> 00:40:21,520 Speaker 1: does a couple? Because you you list at a couple. 758 00:40:22,640 --> 00:40:25,440 Speaker 1: So my mom used the app. I got cousin, he 759 00:40:25,600 --> 00:40:28,360 Speaker 1: used the app. I need to know what the couple is? 760 00:40:28,480 --> 00:40:32,480 Speaker 1: A couple of thousand, a couple of huntreds. Yeah, that's 761 00:40:32,520 --> 00:40:36,000 Speaker 1: a legit question. Um, so we we say, you know, 762 00:40:36,160 --> 00:40:40,160 Speaker 1: like five to ten k in in revenue, Um, will 763 00:40:40,239 --> 00:40:43,080 Speaker 1: we go above that and below that in some bills 764 00:40:43,120 --> 00:40:45,120 Speaker 1: based on the bibility of the product and the team. 765 00:40:45,480 --> 00:40:47,400 Speaker 1: Maybe they're a little bit earlier, but you know they 766 00:40:47,480 --> 00:40:50,600 Speaker 1: have pedigree. Uh, you know, we're investors still, so we 767 00:40:50,680 --> 00:40:53,200 Speaker 1: still we still we will have some of that. You know, 768 00:40:53,280 --> 00:40:56,200 Speaker 1: you've got something before you're showing your success, maybe you know, 769 00:40:56,320 --> 00:40:58,480 Speaker 1: you build that confidence up and investors, So maybe we 770 00:40:58,480 --> 00:41:01,239 Speaker 1: will do it a little bit earlier. UM. And then 771 00:41:01,360 --> 00:41:04,319 Speaker 1: also is gonna be we may take something a little 772 00:41:04,360 --> 00:41:07,439 Speaker 1: bit earlier if we have a really really good growth 773 00:41:07,560 --> 00:41:10,239 Speaker 1: partner in our network that we can can take this 774 00:41:10,320 --> 00:41:12,680 Speaker 1: thing to the next level and they just need some help, 775 00:41:12,840 --> 00:41:15,680 Speaker 1: you know. So it will be some iterations, but I'll 776 00:41:15,760 --> 00:41:17,960 Speaker 1: say the majority of our investments will will be that 777 00:41:18,120 --> 00:41:20,920 Speaker 1: kind of post product. You know, you've got several thousand 778 00:41:20,960 --> 00:41:24,239 Speaker 1: dollars in early revenue, and we're gonna come in get 779 00:41:24,320 --> 00:41:26,799 Speaker 1: you with some growth partners, um, you know, get your 780 00:41:26,840 --> 00:41:29,400 Speaker 1: marketing stuff set up, help you with your sales um 781 00:41:29,520 --> 00:41:32,240 Speaker 1: and really help you take that in a profitable manner 782 00:41:32,440 --> 00:41:34,279 Speaker 1: to you know, like that ten million are we kind 783 00:41:34,280 --> 00:41:35,560 Speaker 1: of have this target to give you one to get 784 00:41:35,600 --> 00:41:38,360 Speaker 1: companies to ten million dollars in revenue, and that's how 785 00:41:38,440 --> 00:41:40,960 Speaker 1: we return our fund back to the LPs UM to 786 00:41:41,080 --> 00:41:44,279 Speaker 1: get our companies to ten million dollars in revenue profitability, 787 00:41:44,640 --> 00:41:47,120 Speaker 1: and so like that's the train that will get you 788 00:41:47,239 --> 00:42:05,120 Speaker 1: on once we you come in at that target. Season 789 00:42:05,160 --> 00:42:07,279 Speaker 1: two of the Black Tech Green Money Podcast is brought 790 00:42:07,320 --> 00:42:10,960 Speaker 1: to you by Lexus with Connected Tech, Lexus Safety System 791 00:42:10,960 --> 00:42:14,440 Speaker 1: plus two point five and luxuriously appointed cabin. The new 792 00:42:14,520 --> 00:42:17,239 Speaker 1: Lexus I S is all in on style and performance. 793 00:42:17,640 --> 00:42:20,520 Speaker 1: See how when you experience amazing? How you alexis dealing? 794 00:42:20,640 --> 00:42:25,000 Speaker 1: Talk to me about, UM, Atlanta, maybe the more broadly 795 00:42:25,080 --> 00:42:28,600 Speaker 1: the South, but Atlanta specifically about like the tech ecosystem 796 00:42:28,760 --> 00:42:33,040 Speaker 1: and the wrap around services that offer the opportunity for 797 00:42:33,280 --> 00:42:36,600 Speaker 1: entrepreneurs to be successful, particularly Black entrepreneurs. Like what is 798 00:42:36,640 --> 00:42:40,080 Speaker 1: it about what is unique about Atlanta more generally the 799 00:42:40,200 --> 00:42:46,640 Speaker 1: South that allows us to thrive? Yeah? Man, your questions 800 00:42:46,680 --> 00:42:52,680 Speaker 1: man today? Is I love Atlantic? You can't tell between 801 00:42:52,719 --> 00:42:57,520 Speaker 1: my hat and my shirt? Um? Atlanta is a special place. Um. 802 00:42:57,760 --> 00:43:00,360 Speaker 1: And and it really actually stands from to see the 803 00:43:00,400 --> 00:43:03,719 Speaker 1: Civil rights movement, UM, the dr King. You can also 804 00:43:03,760 --> 00:43:06,680 Speaker 1: talk about the political leadership and the things that were 805 00:43:06,760 --> 00:43:09,799 Speaker 1: laid out that actually preserved and made way for wealth 806 00:43:09,880 --> 00:43:12,359 Speaker 1: to be created amongst black people. So we look look 807 00:43:12,400 --> 00:43:15,600 Speaker 1: at the world's busiest airport, like the world's busiest airport 808 00:43:15,920 --> 00:43:18,160 Speaker 1: is half named by a black man. Because of the 809 00:43:18,360 --> 00:43:20,719 Speaker 1: energy and the effort and the intentionality that he had 810 00:43:21,080 --> 00:43:24,719 Speaker 1: and building a world class UM airport and doing that 811 00:43:24,920 --> 00:43:27,759 Speaker 1: with black people, UM right there along the way. And 812 00:43:27,880 --> 00:43:32,040 Speaker 1: so that spirit, um, it's it's still here and it persists. 813 00:43:32,440 --> 00:43:34,759 Speaker 1: And I think when you take that into consideration and 814 00:43:34,840 --> 00:43:39,279 Speaker 1: also adding the layers, right, so you're adding great educational institutions. 815 00:43:39,560 --> 00:43:42,920 Speaker 1: In Georgia tech got the called the Honorary HPC or 816 00:43:42,960 --> 00:43:47,040 Speaker 1: Georgia State. Um, you have three hpc um literally right 817 00:43:47,040 --> 00:43:50,120 Speaker 1: around the corner, like in downtown Atlanta. They're not rural 818 00:43:50,360 --> 00:43:53,879 Speaker 1: hpc use, these are you know, urban, you know urban 819 00:43:54,160 --> 00:43:56,359 Speaker 1: spc us. So you have a lot, you have all 820 00:43:56,480 --> 00:43:58,640 Speaker 1: the culture and the benefits of that. Then you start 821 00:43:58,680 --> 00:44:01,719 Speaker 1: throwing in the corporations the fortune five hundreds. UM. What 822 00:44:01,920 --> 00:44:04,800 Speaker 1: that does is it creates a really really rich network 823 00:44:05,000 --> 00:44:08,360 Speaker 1: of individuals that are highly connected and highly engaged and 824 00:44:08,880 --> 00:44:12,120 Speaker 1: highly creative. And um, when we start talking about wrap 825 00:44:12,160 --> 00:44:15,520 Speaker 1: around services, what's really great about Atlanta is there are 826 00:44:15,600 --> 00:44:18,040 Speaker 1: so many people that do so many things, and so 827 00:44:19,120 --> 00:44:21,000 Speaker 1: our job is to go and find the best, you know, 828 00:44:21,239 --> 00:44:24,000 Speaker 1: find the best to actually help our portfolio companies. And 829 00:44:24,080 --> 00:44:26,040 Speaker 1: so what the wrap around services looks like, it looks 830 00:44:26,120 --> 00:44:29,239 Speaker 1: like you know it looks like having an entertainer as 831 00:44:29,320 --> 00:44:32,240 Speaker 1: an advisor. It looks like a lacree shouting your product 832 00:44:32,280 --> 00:44:35,000 Speaker 1: out on on television. It looks like, you know, t 833 00:44:35,200 --> 00:44:38,120 Speaker 1: I taking a meeting. It looks like all these um 834 00:44:38,400 --> 00:44:40,760 Speaker 1: what we would what some may call like a mecca 835 00:44:41,239 --> 00:44:44,560 Speaker 1: um um. But it's really about a synergetic ecosystem that's 836 00:44:44,719 --> 00:44:48,560 Speaker 1: that when made efficient right when they're when their platforms, 837 00:44:48,640 --> 00:44:51,040 Speaker 1: the the the institutions are in place to make that 838 00:44:51,160 --> 00:44:55,120 Speaker 1: network efficient, the results are literally limitless um. And we 839 00:44:55,239 --> 00:44:58,000 Speaker 1: have access literally to the world with the airport um 840 00:44:58,080 --> 00:45:01,000 Speaker 1: and then world class education and world class companies that 841 00:45:01,520 --> 00:45:03,680 Speaker 1: that have the capital to help a lot of companies 842 00:45:03,760 --> 00:45:07,600 Speaker 1: grow um and it increase their values. I sprinkle a 843 00:45:07,640 --> 00:45:09,480 Speaker 1: little something on there, will Yeah, that was a deeply 844 00:45:09,680 --> 00:45:15,960 Speaker 1: educated answer right there, Like I'm like, very I want 845 00:45:16,200 --> 00:45:18,600 Speaker 1: all three of you to do this answer so um 846 00:45:18,840 --> 00:45:22,040 Speaker 1: and so I mean just to hit the big major points. 847 00:45:22,239 --> 00:45:24,920 Speaker 1: But I don't think I wanted to sprinkle was that. 848 00:45:25,120 --> 00:45:29,240 Speaker 1: The other really dope thing about Atlanta is that people 849 00:45:29,280 --> 00:45:32,680 Speaker 1: that are from Atlanta, you know, they're very sticular about this, 850 00:45:33,280 --> 00:45:36,960 Speaker 1: but Atlanta has a lot of transplants. Right, A lot 851 00:45:37,040 --> 00:45:39,960 Speaker 1: of people moved to Atlanta where there's for jobs, where 852 00:45:40,000 --> 00:45:43,240 Speaker 1: it's for the culture, whether whatever. Lady moved to Atlanta 853 00:45:43,320 --> 00:45:47,279 Speaker 1: for um and so what happens is in ecosystems like it. 854 00:45:47,400 --> 00:45:49,720 Speaker 1: And I think this is kind of the big difference 855 00:45:49,760 --> 00:45:52,319 Speaker 1: from like I would say, the other coasts that when 856 00:45:52,400 --> 00:45:57,880 Speaker 1: somebody is successful in Atlanta, there's probably another ecosystem that's benefiting, 857 00:45:58,360 --> 00:46:00,600 Speaker 1: like because you made a bunch of money here. And 858 00:46:00,719 --> 00:46:03,839 Speaker 1: I know I'll let nominated anyway just because I'm talking, 859 00:46:04,480 --> 00:46:08,120 Speaker 1: but with Dr Nashley secretists, right, Like park Pick was 860 00:46:08,200 --> 00:46:14,840 Speaker 1: successful in Atlanta. She's from Jackson, Mississippi. She's successful in 861 00:46:14,920 --> 00:46:19,080 Speaker 1: Atlanta and goals and buys twelve acres of land in Jackson, 862 00:46:19,160 --> 00:46:23,000 Speaker 1: Mississippi to build her tech club in her hometown. Still 863 00:46:23,080 --> 00:46:25,719 Speaker 1: lives in Atlanta. But now you see this root, right 864 00:46:25,760 --> 00:46:27,839 Speaker 1: Like you see this rooch Um there. You know there 865 00:46:27,840 --> 00:46:30,440 Speaker 1: are other co founder went back to Kansas City and 866 00:46:30,560 --> 00:46:33,040 Speaker 1: he's doing work in Kansas City, right Like, so now 867 00:46:33,200 --> 00:46:35,719 Speaker 1: you have this roots when things happen in Atlanta, that 868 00:46:35,840 --> 00:46:38,719 Speaker 1: they start to spread to Charlotte and you know, down 869 00:46:38,800 --> 00:46:42,440 Speaker 1: to Florida and over here to to Birmingham and Nashville 870 00:46:42,560 --> 00:46:45,640 Speaker 1: and Memphis and all these places that people moved to 871 00:46:45,680 --> 00:46:48,759 Speaker 1: Atlanta to reach this success, but it doesn't just stay here. 872 00:46:49,120 --> 00:46:51,120 Speaker 1: And so that's one of the things I love about 873 00:46:51,120 --> 00:46:54,600 Speaker 1: Atlanta's that the seeds here they grow, and Germany in 874 00:46:54,640 --> 00:46:59,960 Speaker 1: a lot of other places as well. Joe Man were 875 00:47:00,960 --> 00:47:03,160 Speaker 1: they answer that one. But one thing I will add 876 00:47:03,640 --> 00:47:06,880 Speaker 1: is there's something this is Even though I love Atlanta 877 00:47:06,960 --> 00:47:09,160 Speaker 1: and I could go on and on about how great 878 00:47:09,160 --> 00:47:12,879 Speaker 1: Atlanta is, there's something else which is a tension right 879 00:47:12,960 --> 00:47:16,719 Speaker 1: now in Atlanta where there's a fight for the city 880 00:47:16,840 --> 00:47:19,160 Speaker 1: when it comes to black leadership, when it comes to 881 00:47:19,760 --> 00:47:23,759 Speaker 1: black economic prosperity, and I think that you have an 882 00:47:23,960 --> 00:47:28,200 Speaker 1: energy around maintaining these things. And so for me, that's 883 00:47:28,239 --> 00:47:30,920 Speaker 1: what keeps me motivated and keeps me excited, is like, 884 00:47:31,280 --> 00:47:33,719 Speaker 1: we have work to do here still, there's a lot 885 00:47:33,840 --> 00:47:37,480 Speaker 1: that we have to um maintain as far as what 886 00:47:37,640 --> 00:47:41,160 Speaker 1: the foundations that Maynard Jackson set so many years ago. 887 00:47:41,480 --> 00:47:44,480 Speaker 1: There's work for this new generation, those of us who 888 00:47:44,520 --> 00:47:47,759 Speaker 1: have decided to land here. So that for me is 889 00:47:47,880 --> 00:47:50,839 Speaker 1: like the thing of Okay, we can't let the hard 890 00:47:50,920 --> 00:47:54,120 Speaker 1: work that happened and fifty years ago go to waste. 891 00:47:54,520 --> 00:47:58,520 Speaker 1: We have to make sure that we're maintaining the positions 892 00:47:58,600 --> 00:48:00,960 Speaker 1: that we have. We have to make sure that what 893 00:48:01,280 --> 00:48:03,040 Speaker 1: you know, the sad part of the city where you 894 00:48:03,120 --> 00:48:05,680 Speaker 1: do still have a huge gap as it relates to 895 00:48:05,840 --> 00:48:08,080 Speaker 1: the haves and the have not, even in the black community. 896 00:48:09,040 --> 00:48:11,239 Speaker 1: There's work to be done. And so I'm excited about 897 00:48:11,239 --> 00:48:13,000 Speaker 1: the fact that we get to do that work here 898 00:48:14,040 --> 00:48:17,200 Speaker 1: in showcase what can happen when there's intentional efforts in 899 00:48:17,280 --> 00:48:20,720 Speaker 1: a city where you have leadership in these different spots. 900 00:48:21,000 --> 00:48:24,719 Speaker 1: The fact that barys over Tech Stars Social Impact and 901 00:48:24,920 --> 00:48:30,280 Speaker 1: is building companies here in Atlanta that is not by mistake. 902 00:48:30,800 --> 00:48:34,440 Speaker 1: The fact that justin you know, founded with Joey willmack 903 00:48:34,640 --> 00:48:37,480 Speaker 1: Goody Nation to build social impact companies here in Atlanta 904 00:48:37,600 --> 00:48:39,440 Speaker 1: is not by mistake. The fact that I took on 905 00:48:39,560 --> 00:48:42,839 Speaker 1: the role to lead Google for startups here in Atlanta 906 00:48:43,239 --> 00:48:46,160 Speaker 1: about the stake. So we're doing all these things to 907 00:48:46,560 --> 00:48:50,880 Speaker 1: really set a different path for the city, building on 908 00:48:51,560 --> 00:48:55,799 Speaker 1: what we've seen, Um, you know from the past. And Jill, 909 00:48:55,840 --> 00:48:57,560 Speaker 1: I'll give you this this final thing and then I 910 00:48:57,719 --> 00:49:02,880 Speaker 1: ask um some other answer a questions to all of you. Um, 911 00:49:02,960 --> 00:49:05,239 Speaker 1: you wrote a post um a little while ago called 912 00:49:05,320 --> 00:49:08,279 Speaker 1: while I always have two jobs. Um. And there was 913 00:49:08,280 --> 00:49:10,600 Speaker 1: a quote in there that I particularly stuck out for 914 00:49:10,719 --> 00:49:12,759 Speaker 1: me and said, although I was able to make a 915 00:49:12,800 --> 00:49:15,239 Speaker 1: life changing amount of money through the sale of part pick, 916 00:49:15,680 --> 00:49:19,440 Speaker 1: I've always viewed this as a foundation of general generational 917 00:49:19,520 --> 00:49:23,279 Speaker 1: wealth for my family, not as a personal victory. Um. 918 00:49:23,640 --> 00:49:28,520 Speaker 1: Can you talk about the personal responsibility you felt too, 919 00:49:29,320 --> 00:49:32,279 Speaker 1: not just ball out and go, you know, go get 920 00:49:32,320 --> 00:49:35,359 Speaker 1: the grill right, you know, the grills on order, right, 921 00:49:36,719 --> 00:49:40,359 Speaker 1: but to you know, also turned around and reinvest um 922 00:49:40,480 --> 00:49:43,920 Speaker 1: that reward into your family and to other entrepreneurs. Like, 923 00:49:44,680 --> 00:49:47,719 Speaker 1: how important is it that we as black people who 924 00:49:48,160 --> 00:49:51,359 Speaker 1: do something, who do reach that finish line and get 925 00:49:51,400 --> 00:49:54,440 Speaker 1: that exit and make it get that bag, not just 926 00:49:54,680 --> 00:49:58,160 Speaker 1: take it selfishly, but to keep that Not that it's 927 00:49:58,280 --> 00:50:00,480 Speaker 1: not saying that you can't do that stuff. Get the grill, 928 00:50:00,520 --> 00:50:03,600 Speaker 1: that's what you want through. But how important is it 929 00:50:03,680 --> 00:50:09,480 Speaker 1: that we reinvest into our communities are people? Yeah, it's 930 00:50:09,560 --> 00:50:14,440 Speaker 1: critical if I don't think we cannot rely on anybody 931 00:50:14,480 --> 00:50:17,479 Speaker 1: else to save us about ourselves. And it's gonna take 932 00:50:17,560 --> 00:50:20,640 Speaker 1: all of us who have achieved some level of success 933 00:50:21,080 --> 00:50:24,400 Speaker 1: to go back, turn around, help somebody else out. I mean, 934 00:50:24,680 --> 00:50:26,560 Speaker 1: in my opinion and maybe that's just the way I 935 00:50:26,719 --> 00:50:30,560 Speaker 1: was wired, the way I grew up. But it's a duty, 936 00:50:30,600 --> 00:50:33,920 Speaker 1: it's a responsibility. Um. And and also it's it's like 937 00:50:34,080 --> 00:50:36,279 Speaker 1: I have the skills, I have the knowledge, I have 938 00:50:36,480 --> 00:50:39,319 Speaker 1: to give it to somebody else. So for me, that's 939 00:50:39,440 --> 00:50:42,200 Speaker 1: it's just really important. And I would not feel right 940 00:50:42,600 --> 00:50:45,920 Speaker 1: if I, you know, retired and said, okay, do this 941 00:50:46,080 --> 00:50:48,319 Speaker 1: is I made what I need to make. I'm out here. 942 00:50:48,600 --> 00:50:51,120 Speaker 1: I'm out of here. Um. It's like, no, I need 943 00:50:51,200 --> 00:50:54,040 Speaker 1: to make sure that the next person, the Tracy Pickets 944 00:50:54,080 --> 00:50:56,680 Speaker 1: of the world, you know, can do ten times what 945 00:50:56,760 --> 00:51:00,800 Speaker 1: I did. I I think that we know enough to 946 00:51:00,920 --> 00:51:03,439 Speaker 1: make sure that the next one is bigger and better. 947 00:51:04,040 --> 00:51:06,480 Speaker 1: And if I can be a facilitator of that, that 948 00:51:06,680 --> 00:51:09,200 Speaker 1: to me is like everything. Then I can go and 949 00:51:09,280 --> 00:51:16,320 Speaker 1: retire with I'm gonna see Joe pull up to the 950 00:51:16,400 --> 00:51:18,680 Speaker 1: office tomorrow with a grill one that's gonna be right. 951 00:51:44,719 --> 00:51:46,799 Speaker 1: Black Tech Green Money is a production of Black Andy 952 00:51:47,000 --> 00:51:50,640 Speaker 1: fro Tech is produced by Morgan Dubon and me Well Lucas, 953 00:51:50,960 --> 00:51:53,720 Speaker 1: with additional production supported by Love Beat Your Ray Veneer 954 00:51:53,840 --> 00:51:57,200 Speaker 1: Born Special Thinking to Michael David's Since the Cars of 955 00:51:57,280 --> 00:51:59,799 Speaker 1: Von Yon, you know, like the Wine. Yes, that's it's 956 00:51:59,840 --> 00:52:02,800 Speaker 1: real name. Learn more about my guests and other technis 957 00:52:02,880 --> 00:52:07,000 Speaker 1: represent innovators at afrotech dot com. Go get your money, 958 00:52:07,920 --> 00:52:08,560 Speaker 1: Peace in love,