WEBVTT - Study Hall: Keys to Build a Business 0:00:00.400 --> 0:00:03.120 Coach, the energy out there felt different. What changed for 0:00:03.160 --> 0:00:03.800 the team today? 0:00:03.880 --> 0:00:06.000 It was the new game day scratches from the California 0:00:06.080 --> 0:00:07.080 Lottery players. 0:00:07.120 --> 0:00:07.560 Everything. 0:00:07.840 --> 0:00:09.800 Those games sent the team's energy through the roof. 0:00:09.880 --> 0:00:11.880 Are you saying it was the off field play that 0:00:11.920 --> 0:00:13.520 made the difference on the field, Hey. 0:00:13.520 --> 0:00:15.960 Little play makes your day, and today it made the 0:00:16.040 --> 0:00:19.000 game that's off of now, Coach one more question. 0:00:18.960 --> 0:00:21.800 Play than new Los Angeles Chargers, San Francisco forty nine 0:00:21.880 --> 0:00:24.960 ers and Los Angeles Rams scratchers from the California Lottery. 0:00:25.040 --> 0:00:28.160 A little play can make your day. Peace made responsibily. 0:00:28.240 --> 0:00:29.840 Must be eighteen years or older to purchase late or. 0:00:29.800 --> 0:00:34.120 Claim eyl University is the biggest online platform for education, 0:00:34.240 --> 0:00:37.159 but it's much much more. It's actually a community. Our 0:00:37.200 --> 0:00:40.200 private Facebook group has over eight thousand members and twenty 0:00:40.240 --> 0:00:43.040 infinity groups to students teach themselves just as much as 0:00:43.040 --> 0:00:46.720 the professors do. We have weekly webinars. We have over 0:00:46.760 --> 0:00:49.960 one hundred past webinars. You get access to MG the 0:00:50.000 --> 0:00:53.000 Mortgage Guys Real Estate Blueprint. You get access to monthly 0:00:53.040 --> 0:00:55.120 financial planning calls with yours Truly. 0:00:55.280 --> 0:00:56.200 You get access to. 0:00:56.160 --> 0:00:59.560 Our monthly group chat, investment calls, and much much more so, 0:01:00.240 --> 0:01:03.080 go to eyl university dot com right now and take 0:01:03.120 --> 0:01:07.240 advantage of our limited offer blowout sale sixty five percent 0:01:07.360 --> 0:01:10.560 off of the annual membership Eyo University dot com right 0:01:10.600 --> 0:01:11.880 now and become an earner. 0:01:14.000 --> 0:01:19.240 My graduates from my school being forced back drop drop, 0:01:19.840 --> 0:01:22.320 Mike drop back drop drop. 0:01:32.280 --> 0:01:35.399 It's all it's building up, but the momentum keeps going. 0:01:35.640 --> 0:01:38.880 How do you guys feeling about that? It's all good, bro, 0:01:39.440 --> 0:01:41.520 all word now, put me in that headspace for real. 0:01:41.520 --> 0:01:45.639 It's like that's insane because you know it's coming together, 0:01:46.000 --> 0:01:49.160 Like is it just a blur or you guys, I 0:01:49.200 --> 0:01:51.520 mean you guys just staying on a day by day 0:01:51.600 --> 0:01:53.200 or do you get a chance to even look at 0:01:53.200 --> 0:01:55.960 it like a month out, like what's what's that mindset? 0:01:56.000 --> 0:01:58.240 Like? Now? You know what, bro? 0:01:58.760 --> 0:02:00.760 You know, you don't really even get a instantially think 0:02:00.800 --> 0:02:05.240 about it too much when you when you're actually in it. 0:02:06.000 --> 0:02:08.200 And that's what we you know, we just try to 0:02:08.240 --> 0:02:10.560 just keep our heads down and just keep working. So 0:02:11.480 --> 0:02:13.360 you know, it's but it's it's dope, man, it's dope 0:02:13.400 --> 0:02:15.640 to just be out here. It's just really just like 0:02:15.680 --> 0:02:17.960 you said, it just feels like the momentum is just 0:02:17.960 --> 0:02:20.920 building and building and building is just getting stronger and 0:02:20.960 --> 0:02:22.600 stronger every day, day by day. 0:02:22.720 --> 0:02:26.960 So you know what's cool too, I bet you, I 0:02:27.000 --> 0:02:28.880 bet you. The type of deal flow that you guys 0:02:28.880 --> 0:02:33.640 are seeing is also getting crazy, right because I would 0:02:33.639 --> 0:02:37.040 imagine you know, you guys having a media platform so 0:02:37.120 --> 0:02:41.160 interesting because media is cross sector, right, like you can 0:02:41.520 --> 0:02:44.919 you can amplify any industry with media because you got 0:02:44.919 --> 0:02:48.600 the people behind you. So in that sense, I can't 0:02:48.680 --> 0:02:51.600 help but to think of all the different you know, 0:02:51.639 --> 0:02:54.359 and of course there's prioritization, like there's only so many things, 0:02:54.400 --> 0:02:56.200 you know that can be done at a time. But 0:02:57.400 --> 0:03:02.079 from n f T you know, to all kinds of plays, man, 0:03:02.240 --> 0:03:04.480 it's there, it's there. Excited for you guys. 0:03:04.760 --> 0:03:07.000 Appreciate it. Appreciate it. Appreciate it. 0:03:07.280 --> 0:03:10.079 Likewise, man, I know you're building a billion dollar company, so. 0:03:10.200 --> 0:03:15.440 Appreciate you're We're focused, man, We're focused. And on that note, 0:03:16.560 --> 0:03:20.240 welcoming folks into the season finale of the Well Principles. 0:03:20.360 --> 0:03:26.280 This has been an experiment, a John experiment, you know, 0:03:26.360 --> 0:03:30.480 like let me riff openly here, So an experiment because 0:03:33.080 --> 0:03:39.760 what we have is one second may check check, okay, cool. 0:03:40.920 --> 0:03:41.920 What we have is. 0:03:43.200 --> 0:03:46.480 Any anyone that has a product has to figure out 0:03:46.520 --> 0:03:48.840 different ways that they can bring it out to the market. 0:03:49.800 --> 0:03:54.120 And one of the efficiencies that you can deploy if 0:03:54.160 --> 0:03:57.360 you know how to create media, is to build your 0:03:57.360 --> 0:04:00.280 own organic media. But see, here's the thing that shit 0:04:00.360 --> 0:04:06.600 takes time. It should takes, and there's a long tail 0:04:06.840 --> 0:04:10.800 and off time. You just have more immediate pressures. So 0:04:10.960 --> 0:04:13.240 what do folks resort to when they have that immediate pressure. Well, 0:04:13.240 --> 0:04:16.039 a lot of times they'll get sold by agency. They 0:04:16.120 --> 0:04:19.680 might try some ads and that shit is cool, but 0:04:19.760 --> 0:04:25.760 the moment you stop spending, it goes away. Right. So ironically, 0:04:25.920 --> 0:04:27.840 the shit that's harder to build is also the shit 0:04:27.920 --> 0:04:31.880 that is perhaps not surprisingly, shit that's hard to build 0:04:31.920 --> 0:04:35.320 is also harder for it to go away. You can 0:04:35.480 --> 0:04:38.080 liken that to a stock portfolio. I'm sure the trapper 0:04:38.120 --> 0:04:42.039 would agree. The stocks that have less volatility, you build 0:04:42.040 --> 0:04:44.840 a bigger base of those, and it's yielding you know, 0:04:45.920 --> 0:04:49.359 dividends and you know the goal of course from a 0:04:49.360 --> 0:04:51.400 wealth perspective is to get to the point where you 0:04:51.480 --> 0:04:55.039 have enough principle invested. You got five million dollars and 0:04:55.080 --> 0:04:58.080 you're earning you know, three percent off of that, then 0:04:58.120 --> 0:05:01.440 you're making an annual salary, and you make one hundred 0:05:01.440 --> 0:05:03.720 and fifty grand. You don't even have to touch your principle, 0:05:03.760 --> 0:05:06.800 and then the principle can continue growing. But now what's 0:05:06.800 --> 0:05:10.359 interesting is my journey with this idea of building wealth 0:05:10.400 --> 0:05:14.720 has really evolved, has been fluid. At some point, I 0:05:14.760 --> 0:05:17.159 was over index on stocks, y'all want to go hard 0:05:17.160 --> 0:05:22.480 as stocks. I discover private investments. Okay, cool man. I 0:05:22.560 --> 0:05:27.880 like real estate, a little cash flow, YadA YadA. But 0:05:28.000 --> 0:05:29.800 at some point you got to lean into your strengths. 0:05:29.800 --> 0:05:31.440 And what I figured out is that I'm a fucking 0:05:31.720 --> 0:05:35.039 like I like making shit, and when you make some shit, 0:05:35.120 --> 0:05:37.799 you can sell it too. And this is a whole 0:05:37.800 --> 0:05:40.159 way of wealth as well, where you can create a 0:05:40.240 --> 0:05:45.640 company that just rises a tremendous value and then you 0:05:45.680 --> 0:05:48.640 can create a liquidity event, much like Richelie with Dennis 0:05:48.640 --> 0:05:51.919 from Shaye Moisture, who sold Sundow Brands. He built that 0:05:51.960 --> 0:05:56.480 shit out the mud Booststrap selling in Harlem in the 0:05:56.560 --> 0:05:59.800 nineties and he had a billion dollar exit and then 0:05:59.839 --> 0:06:01.880 he was able to invest in others and create a 0:06:01.880 --> 0:06:04.120 fun and so on. So a lot of paths is 0:06:04.120 --> 0:06:07.040 the point. A lot of paths are you want to 0:06:07.160 --> 0:06:09.600 hold down a job and you want to invest in 0:06:09.839 --> 0:06:14.640 stocks and grow your portfolio patiently over time you will 0:06:14.640 --> 0:06:18.880 get rich as well. Do you want to go all 0:06:18.920 --> 0:06:23.840 the fucking on one particular idea and not like, not 0:06:24.120 --> 0:06:27.640 deviate until you pop off as an artist, for example, 0:06:28.160 --> 0:06:31.280 that's also a path. And guess what, A lot of 0:06:31.320 --> 0:06:34.000 these motherfuckers in corporate don't make half as much money 0:06:34.040 --> 0:06:36.960 as a lot of these rappers now, but there is 0:06:37.000 --> 0:06:40.120 a tier that make a lot more than rappers. And 0:06:40.160 --> 0:06:42.080 of course you wouldn't know because you know the way 0:06:42.080 --> 0:06:45.880 they dress it whatever. But still I find entertainment an 0:06:45.920 --> 0:06:52.760 incredibly viable path to generate in mad money because when 0:06:52.760 --> 0:06:58.080 you when your image and likeness becomes valuable, the music 0:06:58.160 --> 0:07:04.840 is but a platform to presuserve and maintain your reach 0:07:04.880 --> 0:07:08.560 and your relevance in the culture. When I was on television, 0:07:09.480 --> 0:07:13.240 my ideal flow skyrocketed. Not because of me. I was 0:07:13.280 --> 0:07:18.000 just a messenger, but I was on Vicelands airwaves, and 0:07:18.040 --> 0:07:19.920 so a lot of brands and a lot of speaking 0:07:19.960 --> 0:07:22.360 deals and a lot of opportunities was coming my way. 0:07:22.960 --> 0:07:26.200 During that time. I probably made three three, four hundred 0:07:26.200 --> 0:07:30.880 grand justin speaking, I only got to paid thirty grand 0:07:31.000 --> 0:07:36.000 for the show, but the speaking volume elevated, so you 0:07:36.040 --> 0:07:40.000 can go that way. I think that's very viable. And 0:07:40.080 --> 0:07:42.880 so anyways, a lot of ways to skin it. I 0:07:42.920 --> 0:07:44.920 love the way you guys are going about it. Personally. 0:07:45.360 --> 0:07:49.160 I think Earn your Leaders actually very interest I see. 0:07:49.160 --> 0:07:51.880 I never thought about it from like, you know, like 0:07:51.960 --> 0:07:54.080 we're boys, so like it's like, yo, it's my homie. 0:07:54.080 --> 0:07:56.000 They're popping off. But now if I would have just 0:07:56.000 --> 0:07:58.920 put on like my my investor had and say, wow, 0:07:59.000 --> 0:08:01.880 this is an interesting and this is an interesting deal, 0:08:02.760 --> 0:08:07.320 right because because what you guys have created in terms 0:08:07.320 --> 0:08:12.400 of the value are owned properties. You guys have your 0:08:12.720 --> 0:08:16.559 main show is owned. It was cultivated and grown over time, 0:08:17.240 --> 0:08:20.800 so it's not over reliant on any one partnership or 0:08:20.840 --> 0:08:21.920 distribution channel. 0:08:22.120 --> 0:08:22.680 Is owned. 0:08:23.360 --> 0:08:26.200 But in addition to that, right I know is I'm 0:08:26.240 --> 0:08:29.680 practitioning now at Loop and looking to penetrate audiences, and 0:08:29.720 --> 0:08:33.920 I realized, Wow, earn your leisure effectively as a result 0:08:34.000 --> 0:08:36.880 of the guests that you guys have interviewed in an 0:08:36.960 --> 0:08:43.120 authentic fashion, have become the aggregation of the category that 0:08:43.280 --> 0:08:48.760 is urban economic empowerment right, which that's what you can 0:08:48.840 --> 0:08:51.920 call what you want, but it's in the cultural zeitgeist. 0:08:52.520 --> 0:08:56.720 It's in the zeitgeist. And EYL has because. 0:08:57.960 --> 0:09:00.240 Sounds bringing out the dictionary. Today you. 0:09:01.720 --> 0:09:05.440 Have pulled out all the most interesting relevant people in 0:09:05.480 --> 0:09:09.480 this theme and have a nurtured your own audience. But 0:09:09.600 --> 0:09:12.320 be all you while you were at it, have brought 0:09:12.400 --> 0:09:14.560 in collective audiences. 0:09:14.600 --> 0:09:15.359 So now. 0:09:17.600 --> 0:09:24.559 M hm, that's very valuable. From that can come I P. 0:09:26.000 --> 0:09:29.120 From that can come i P. You can start creating. 0:09:29.120 --> 0:09:31.600 If you wanted fictional shows, this might be an interesting play. 0:09:31.840 --> 0:09:35.160 I would bring on a fucking illustrator and create, you know, 0:09:35.360 --> 0:09:36.920 tips about building well in. 0:09:37.000 --> 0:09:39.760 Kids, story for me about everything top secret. 0:09:39.520 --> 0:09:45.920 John okay, okay, boom. And then you have that's ip. 0:09:46.200 --> 0:09:51.000 You can create assets that become licensable and you know, 0:09:51.160 --> 0:09:54.160 in the form of books and so on, NFTs of 0:09:54.200 --> 0:09:57.520 course whatever. I get excited about any and all things business. 0:09:57.840 --> 0:10:01.920 That's why on today's episode Old we are going to 0:10:02.000 --> 0:10:05.079 do straight Q and A. We got like fifty questions. 0:10:05.480 --> 0:10:09.480 Some are trash, some are heat and I figure we 0:10:09.679 --> 0:10:12.480 just go through them h and just riff on the 0:10:12.480 --> 0:10:14.240 ones that are the most fun, the ones that catch 0:10:14.240 --> 0:10:14.760 our attention. 0:10:15.360 --> 0:10:17.719 All right, you want to you want to stop, I'll 0:10:17.760 --> 0:10:20.520 read off the first one. How was that, yes, sir? 0:10:20.640 --> 0:10:22.640 And just feel free if you think it's wat you 0:10:22.679 --> 0:10:24.520 just feel free and look through there's a lot that are. 0:10:24.600 --> 0:10:26.520 Yeah, I'm gonna come through them. I'm gonna come through them. Man. 0:10:26.760 --> 0:10:28.360 Then we can kind of mix it up with throwing 0:10:28.360 --> 0:10:29.640 some zoom questions. We got. 0:10:32.000 --> 0:10:35.560 For sure, like I would prefer the zoom questions, but 0:10:35.600 --> 0:10:37.319 we always also have these that we. 0:10:37.240 --> 0:10:39.040 Could Yeah, for sure, let's do it. Let's do it 0:10:39.040 --> 0:10:39.320 all right. 0:10:39.360 --> 0:10:42.400 So uh, top of the list says is outside funding 0:10:42.640 --> 0:10:44.319 absolutely necessary to scale? 0:10:45.720 --> 0:10:48.080 Man, did you guys take in any Brad when you 0:10:48.080 --> 0:10:48.839 start your leisure? 0:10:49.520 --> 0:10:50.079 Absolutely? 0:10:51.640 --> 0:10:56.160 Man? How many boso ask media companies out there, no disrespect, 0:10:57.080 --> 0:10:59.800 but how many boso ass media companies don't raise a 0:10:59.800 --> 0:11:03.280 ton the money and tried all these five things that 0:11:03.320 --> 0:11:04.920 you should do to you know, they came at with 0:11:04.960 --> 0:11:08.640 the listicals that's what they call them. And they generated 0:11:09.080 --> 0:11:13.640 prop up traffic, fake traffic, real traffic, but like fake 0:11:13.679 --> 0:11:17.000 in the sense that it goes away. And yet you 0:11:17.040 --> 0:11:19.200 guys would know Brad came at it how you came 0:11:19.240 --> 0:11:23.760 at it. So you know, you guys you guys tell me. 0:11:24.679 --> 0:11:27.840 I would say, no, you definitely don't need that. It 0:11:27.920 --> 0:11:30.679 depending on what kind of business. If you have like 0:11:30.720 --> 0:11:34.240 a you know, a shipping company that's a lot of 0:11:34.320 --> 0:11:37.480 overhead and you don't have any money. But me personally, 0:11:37.480 --> 0:11:38.840 I don't think that those are the best kind of 0:11:38.840 --> 0:11:41.640 businesses to start right now in today's economy. I think 0:11:41.679 --> 0:11:46.040 online businesses are probably the most practical and the most 0:11:46.080 --> 0:11:47.439 profitable in a lot of cases. 0:11:47.960 --> 0:11:49.240 And that's something that we did. 0:11:49.280 --> 0:11:54.000 You know, our businesses are online business and it's extremely 0:11:54.040 --> 0:11:58.120 low overhead, So it's something that requires a lot of time, 0:11:59.200 --> 0:12:03.200 and it's something that does require a skill set, like 0:12:03.280 --> 0:12:05.600 even editing videos and things of that nature. If you 0:12:05.640 --> 0:12:07.160 if you don't know how to do it yourself, then 0:12:07.200 --> 0:12:09.520 you would have to you know, hire somebody do that, 0:12:09.679 --> 0:12:12.120 or you know, make a deal with somebody where you 0:12:12.160 --> 0:12:16.720 can give them equity in your company if they perform 0:12:16.760 --> 0:12:18.640 a service that you might not be able to pay 0:12:18.640 --> 0:12:22.559 them for upfront. So that's always that's always something as 0:12:22.559 --> 0:12:25.240 well that you can do. It doesn't necessarily have to 0:12:25.240 --> 0:12:27.720 be paying somebody if you think that they're that valuable 0:12:27.720 --> 0:12:29.240 that you can give them equity if they believe in 0:12:29.240 --> 0:12:30.960 a company and network for free because they know that 0:12:30.960 --> 0:12:33.760 the payout on the back is gonna be much more 0:12:34.120 --> 0:12:36.560 than you know, a couple hundred dollars or one thousand 0:12:36.559 --> 0:12:39.079 dollars that you're going to pay them for their services upfront. 0:12:39.440 --> 0:12:41.040 So absolutely not. 0:12:41.280 --> 0:12:43.080 But like I said, obviously it just depends on what 0:12:43.160 --> 0:12:45.160 kind of property, what kind of business you're starting. But 0:12:45.240 --> 0:12:53.040 for us our personal experience in starting our business, we uh, yeah, 0:12:53.480 --> 0:12:55.400 use our own money, which was very little. We didn't 0:12:55.440 --> 0:12:58.080 even have to spend that much money because it's a 0:12:58.160 --> 0:13:01.360 it's a low cost operation, especially at the beginning stages. 0:13:01.720 --> 0:13:05.000 And then we just reinvested the money that's important we 0:13:05.080 --> 0:13:09.920 invest in, reinvest the money that you make, invest in infrastructure, 0:13:10.600 --> 0:13:13.240 keep growing it and take it from there. 0:13:13.360 --> 0:13:13.560 Yeah. 0:13:13.559 --> 0:13:16.160 I think your best currency, the number one currency when 0:13:16.160 --> 0:13:18.720 you're trying to scale, is going to be value. Right, 0:13:18.760 --> 0:13:20.800 So if you add value, even when you're trying to 0:13:20.800 --> 0:13:24.200 find somebody that that can help you scale, if they 0:13:24.240 --> 0:13:26.280 see value in it, if they believe in it, the 0:13:26.320 --> 0:13:28.680 belief will come from the value that you're adding. And 0:13:28.760 --> 0:13:31.760 so think of that first, what value am I adding? 0:13:31.880 --> 0:13:34.000 And then figure out what you need, because you might 0:13:34.040 --> 0:13:36.120 not need anything right, you can start with what you are. 0:13:36.120 --> 0:13:37.560 I always say that start where you are, do what 0:13:37.600 --> 0:13:40.400 you can, and let's see where you can go. So yeah, 0:13:40.480 --> 0:13:42.400 the value add is the most important thing. I think 0:13:42.440 --> 0:13:45.800 in scaling right, we had a platform, we add value 0:13:45.840 --> 0:13:50.520 with information. People came, things came after that, But the 0:13:50.600 --> 0:13:53.559 number one thing was like, let's do something that is disruptive. 0:13:53.880 --> 0:13:56.400 Let's do something that is valuable to not only our 0:13:56.440 --> 0:13:59.240 community but the world, and the benefits will come after 0:13:59.840 --> 0:14:00.320 my money in. 0:14:00.360 --> 0:14:01.920 That was our model. All money and stay down to 0:14:02.000 --> 0:14:05.880 you come on all money and no money out. That's it. 0:14:06.040 --> 0:14:10.760 Easier said than done, but I can I concur I 0:14:10.800 --> 0:14:18.280 think outside funding not not necessary to get started, not necessary. 0:14:18.400 --> 0:14:24.520 But it's interesting because yeah, such a small percentage of 0:14:24.520 --> 0:14:27.800 businesses do get it. And one thing that I've noticed 0:14:27.880 --> 0:14:35.560 is like, man, this record with se You know, I'm 0:14:35.560 --> 0:14:38.680 not sure how how much you guys have cover SPACs 0:14:38.960 --> 0:14:42.840 on y L. But a SPAC is a special purpose 0:14:43.440 --> 0:14:50.000 acquisition company that effectively has gamified the I p O. 0:14:50.800 --> 0:15:00.640 The illustrious elusive. There is mad scrutiny, request fired to 0:15:00.840 --> 0:15:04.880 enter the public markets. Sorry I broke a couple of bit. 0:15:04.920 --> 0:15:07.360 There's mass scrutiny required to enter the public markets. You 0:15:07.360 --> 0:15:08.760 got to deal with bankers, you got to deal with 0:15:08.760 --> 0:15:12.520 solvency requirements and so on, and so you know, true 0:15:12.560 --> 0:15:16.600 to capitalists, they created some shell company that can acquire 0:15:17.160 --> 0:15:21.560 a company that's trying to go public. Effectively, they take 0:15:21.600 --> 0:15:24.000 the shell company public and then the company that they 0:15:24.040 --> 0:15:26.080 acquired goes with them, and then it's listable on the 0:15:26.080 --> 0:15:32.000 IPO and you bypass the speculation. Bhi lah. So anyway, 0:15:33.080 --> 0:15:35.160 with the SPACs, a lot of companies I've gone to public. 0:15:35.200 --> 0:15:37.880 One thing I've noticed so is that this record wave 0:15:37.960 --> 0:15:41.760 of liquidity that these IPOs create, all these investors that 0:15:41.800 --> 0:15:45.480 got in all the way throughout the private trajectory of 0:15:45.520 --> 0:15:49.080 the company made a ton of bread. They all got rich, 0:15:49.400 --> 0:15:57.920 early employees, rich founders, rich vcs rich, growth stage equity rich, 0:15:59.640 --> 0:16:04.400 and the multiples get smaller the bigger you all are. 0:16:04.680 --> 0:16:07.880 But they write bigger checks. So the angel only needs 0:16:07.880 --> 0:16:09.800 to write twenty five k for it to pop off 0:16:09.840 --> 0:16:11.840 or for them to make a fortune. But if you're 0:16:11.880 --> 0:16:15.200 invested in the growth stage equity, you write a fifty 0:16:15.200 --> 0:16:17.320 million dollar check and you might get a three x. 0:16:17.760 --> 0:16:20.840 And guess what when you form a cap table. Right, 0:16:20.880 --> 0:16:23.040 I'm a founder, I'm at the beginning of LOUP. Then 0:16:23.080 --> 0:16:25.520 come my seat investors, then come to Series A investors, 0:16:25.560 --> 0:16:28.120 and this is what's called the capital stack, the cap stack, 0:16:28.760 --> 0:16:30.960 and then every investor on the top of the stack 0:16:31.040 --> 0:16:32.760 they have their preferences, so they get what's called the 0:16:32.760 --> 0:16:36.960 liquidation preference. So when money pops off in the exit 0:16:37.120 --> 0:16:39.840 later in stage whoop, they go first, and then everyone 0:16:39.920 --> 0:16:43.520 goes and then the founders get paid. So anyway, all 0:16:43.560 --> 0:16:48.360 that to say that I want to encourage also people 0:16:48.360 --> 0:16:50.760 of color out there. You don't need money to get started, 0:16:51.440 --> 0:16:53.720 but get good enough that you can fucking raise money. 0:16:54.440 --> 0:17:00.000 Get good enough, know your shit cold cold, tell your store, 0:17:00.560 --> 0:17:05.080 package it up, get some fucking swag, right, make terms up, 0:17:05.840 --> 0:17:09.520 make terms up. I'm serious, take your business and just 0:17:09.560 --> 0:17:11.840 imagine a fucking term and say, you know what, eyol 0:17:12.000 --> 0:17:14.919 is the biggest show on fucking earth, right, like you 0:17:14.960 --> 0:17:18.439 guys made that up, brought it out people you know, 0:17:18.600 --> 0:17:23.399 and and that storytelling. So founders out there is so please. 0:17:23.800 --> 0:17:27.240 It is so much less science. The information is out there, 0:17:27.280 --> 0:17:29.480 consume it and fucking learn it. But it's cost of entry. 0:17:30.080 --> 0:17:37.040 After that, it's swaged. The salesmanship is vision is creativity. 0:17:37.160 --> 0:17:39.840 It's motivating people. You gotta get them excited. You have 0:17:39.920 --> 0:17:42.919 to reorganize the ingredients that are already there to make 0:17:42.960 --> 0:17:47.359 a little bit of a different outcome. That's what entrepreneurship is. 0:17:48.000 --> 0:17:51.880 Stop trying to overprescribe it. You know, we got that 0:17:51.960 --> 0:17:54.240 in the culture already. You're gonna tell me that a 0:17:54.240 --> 0:17:56.760 bunch of these white cats with no swager out there 0:17:56.760 --> 0:18:02.240 getting the bulk of the bag. Come on, man, like, 0:18:03.080 --> 0:18:08.480 get sharp so that never becomes a bottleneck. Get sharp, 0:18:08.840 --> 0:18:12.800 laser fucking razor, and then they can never deny you 0:18:12.840 --> 0:18:17.040 all merrit And then we had the swag on top, 0:18:18.400 --> 0:18:20.439 so you don't need it, but get good enough that 0:18:20.480 --> 0:18:21.520 you can get it, and then. 0:18:22.520 --> 0:18:25.119 The swag is sold separately. That's something that didn't. 0:18:27.080 --> 0:18:27.119 Like. 0:18:27.640 --> 0:18:27.720 Jo. 0:18:27.840 --> 0:18:29.879 We gotta get you know, you know your ship shirt? 0:18:30.040 --> 0:18:33.320 I like that. That's your phrase, Bro, You gotta gotta 0:18:35.520 --> 0:18:37.439 Can I go to one? 0:18:37.720 --> 0:18:40.080 Well? We got all right. Let's see, Anthony, we got 0:18:40.359 --> 0:18:46.520 coming to you. You yourself. You've been unmuted. Go ahead, 0:18:47.240 --> 0:18:53.400 what's going on? Anthony? 0:18:54.000 --> 0:18:56.760 Can you hear me? My brother perfectly? What's going on? 0:18:57.040 --> 0:18:59.240 All good man? I just met you Brothers on Tuesday. 0:18:59.320 --> 0:19:02.240 Man, it was real you a real good energy at 0:19:02.240 --> 0:19:05.200 the l A little mixing situation, man, I appreciate y'all. 0:19:05.720 --> 0:19:08.560 Yeah, speak about that if anybody's not familiar. We got 0:19:08.600 --> 0:19:12.240 a private networking event for E y L University in 0:19:12.480 --> 0:19:18.960 LA and everybody showed up him five hundred, Alex God Energy, Shiggy, 0:19:19.000 --> 0:19:24.000 Mike Rashie, business business. It was a whole vibe. So 0:19:24.040 --> 0:19:25.240 how'd you how'd you enjoy it? 0:19:25.640 --> 0:19:27.879 Oh yeah, Anthony Walker was in the building too, so 0:19:27.960 --> 0:19:29.120 that was a major situation. 0:19:30.200 --> 0:19:32.760 How the most important we were getting there. 0:19:33.280 --> 0:19:36.320 Yeah, but I enjoyed it, like I really did enjoy it. 0:19:36.440 --> 0:19:39.960 I think that you guys just credited a whole nother 0:19:40.320 --> 0:19:43.360 like I think post COVID is a whole nother thing 0:19:43.440 --> 0:19:45.200 that's going to be able to happen for y'all. You 0:19:45.280 --> 0:19:46.680 know what I'm saying. Where you gonna really get a 0:19:46.760 --> 0:19:49.560 chance to touch the people. Man, that's the most important thing, 0:19:49.640 --> 0:19:52.560 I think. And that's where you build that deep value. 0:19:52.560 --> 0:19:54.600 You know what I'm saying, You build deep you know, 0:19:54.760 --> 0:19:56.840 going y'all going deep. And I see that. So I 0:19:56.880 --> 0:19:59.520 appreciate y'all for that. Man, It's a real beautiful play. 0:20:00.880 --> 0:20:04.159 I appreciate you, yes, sir, But my question, man, is 0:20:04.200 --> 0:20:07.000 for both of you or both you know, both all 0:20:07.000 --> 0:20:10.520 three of y'all, But so both of your businesses all 0:20:10.720 --> 0:20:13.920 have a subscription based model to it, you know what 0:20:13.960 --> 0:20:18.159 I'm saying. And that's a real interesting business model, and 0:20:18.240 --> 0:20:20.600 to me it seems like the best business model going 0:20:20.600 --> 0:20:22.919 forward because you guys, just talk to me why that 0:20:23.160 --> 0:20:27.040 is and or compare that to other business models that 0:20:28.080 --> 0:20:29.439 you know what I'm saying that you either see that 0:20:29.480 --> 0:20:32.679 are popular or that that that might be strong going forward. 0:20:33.680 --> 0:20:36.760 Yeah, for sure. So I mean for us, we have 0:20:36.800 --> 0:20:39.600 a couple of different business models. So we have some 0:20:39.640 --> 0:20:42.520 products like merch. By the way, the merch we have 0:20:42.520 --> 0:20:45.840 a fifty percent off of our merch for all winter. 0:20:46.760 --> 0:20:50.639 Yeah so e y l U fifty uh and you 0:20:50.680 --> 0:20:54.760 get fifty percent off of all merch. That's winter speaking, 0:20:54.880 --> 0:20:57.600 perfect segue. But yeah, we have we have items like merch, 0:20:57.600 --> 0:20:59.880 which is one off that's not obviously that's not a subscription. 0:21:01.080 --> 0:21:04.159 But yeah, EYL University because that's a recurring thing. So 0:21:04.600 --> 0:21:07.600 it's like another ending story where that's something that we 0:21:07.680 --> 0:21:08.320 constantly do. 0:21:08.400 --> 0:21:09.639 It's like a it's school. 0:21:09.640 --> 0:21:11.440 So it's just like you go to you know, college, 0:21:11.440 --> 0:21:14.359 you go to freshman year, sophomore year, junior year. So 0:21:14.920 --> 0:21:17.600 for us, I mean we do both ways as far 0:21:17.640 --> 0:21:19.879 as like, if we do an event, that'll be a 0:21:19.880 --> 0:21:22.560 one off, If we do merch that'll be a one off. 0:21:23.880 --> 0:21:26.439 If we write a book that's a one off. But 0:21:27.040 --> 0:21:30.440 Eyo University that's like an ongoing subscription. So I think 0:21:30.920 --> 0:21:34.960 both ways can work. But of course the subscription is 0:21:34.960 --> 0:21:40.199 always good because it's reoccurring, and as long as you 0:21:40.200 --> 0:21:44.200 can continue to add value, then people will continue to pay. 0:21:44.200 --> 0:21:47.560 That's what business is all about, right, People pay for value. 0:21:47.600 --> 0:21:49.800 So it's like you pay nine to ninety nine or 0:21:49.800 --> 0:21:53.239 whatever it is for Netflix every single month, and as 0:21:53.280 --> 0:21:57.680 long as you're satisfied if what Netflix is providing, you're 0:21:58.359 --> 0:22:00.880 you're going to continue to pay it. If for whatever, 0:22:01.000 --> 0:22:04.199 you become dissatisfied at the service that Netflix is providing, 0:22:04.240 --> 0:22:06.040 you're going to cut the cord and cancel your service. 0:22:06.080 --> 0:22:08.320 So I think it's the same no matter what it is, 0:22:08.520 --> 0:22:12.560 whether it's car insurance, whether it's education, whether it's entertainment. 0:22:13.480 --> 0:22:19.159 If you can consistently add value on an ongoing basis, 0:22:19.720 --> 0:22:23.439 then the business model is there for that. And like 0:22:23.480 --> 0:22:26.720 I said, the good thing with subscription based services or 0:22:26.720 --> 0:22:29.560 subscription based business models is that you can do it 0:22:29.600 --> 0:22:31.359 in all different things. You can do it in makeup 0:22:31.840 --> 0:22:34.160