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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security Earners.

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Speaker 3: What's going on?

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Speaker 4: Listen, eylu is relaunching, revamping, retooing. That's why we're creating

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Speaker 4: a new educational experience that's more expensive.

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Speaker 3: Shot.

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Speaker 5: Tell what we got, Yes, twenty twenty three. We got

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Speaker 5: a lot is still a lot playing for you guys.

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Speaker 5: So you know that EYLU already includes monthly financial planning

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Speaker 5: calls with Me, book club calls with Troy, real estate

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Speaker 5: calls with MG the Mortgage Guy, access to the Home

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Speaker 5: Buying Blueprint Volume one and Volume two.

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Speaker 3: Part of the.

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Speaker 5: Revamp will include twenty seven local chapters from across the

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Speaker 5: United States, live interactive teaching hands on not just pre

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Speaker 5: recorded videos, plus fifteen brand new curriculums.

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Speaker 4: The biggest just got bigger.

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Speaker 6: Head over to e y L University dot com. That's

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Speaker 6: EYL you N I V E R S I T

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Speaker 6: Y dot com.

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Speaker 2: See it there.

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Speaker 7: I've got a really good problem on my hands. How

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Speaker 7: do I solve this? I've got more demand than I

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Speaker 7: have seats. We want to make sure we take care

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Speaker 7: of the people that have taken care of us. So

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Speaker 7: all those people that are regulars, that have been regulars,

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Speaker 7: that are great customers, we want to make sure we

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Speaker 7: take care of them. I have two hundred seats. The

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Speaker 7: last thing I want to do is just have two

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Speaker 7: hundred random people in the restaurant that I don't know.

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Speaker 7: Two top can come in order a bottle of sparkling

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Speaker 7: water and split a pasta and lead. That doesn't help me.

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Speaker 7: Or I can know exactly who those two people are

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Speaker 7: that are coming because they're regulars. I know all of

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Speaker 7: their spending habits. I know everything that they like and

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Speaker 7: they don't like, and I can put those two people

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Speaker 7: in there. That's totally changes my mind. That's how the

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Speaker 7: scarcity model works in my favor, is that I take

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Speaker 7: care of the people that take care of me and

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Speaker 7: take care of the company by making sure they always

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Speaker 7: have access.

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Speaker 3: Guys, welcome back. Yes, yes, y l we have a

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Speaker 3: very special guest. This is a New York edition for sure.

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Speaker 3: For sure, Lendons of the City. One of the top

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Speaker 3: entrepreneurs and restaurant toys of our generation. Definitely Mario Carbone.

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Speaker 3: You probably recognize his last name because Drake always wraps

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Speaker 3: it by his restaurants better than what do you say?

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Speaker 3: You said they can't get a reservation at Carbone. They're

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Speaker 3: gonna say, it's a chill night, that's one of our

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Speaker 3: favorite barts.

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Speaker 4: But are you getting that late eleven o'clock reservation?

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Speaker 3: One for sure. But you built a dynasty in the

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Speaker 3: culinary business and now you're expanding your fashion doing a

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Speaker 3: variety of different things. So you know you have a

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Speaker 3: partnership with AMEX that we're going to talk about. So

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Speaker 3: this is going to be a great conversation. First and formal,

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Speaker 3: thank you for joining us.

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Speaker 4: We sure you having We statistically got information that it

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Speaker 4: is on record the toughest reservation to get into in

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Speaker 4: the United States of America.

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Speaker 7: Yeah, I mean mentioning AMEX. So Amex, you know, a

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Speaker 7: few years ago, bought Rezi, so they have all the

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Speaker 7: statistical information on the on the reservations there. And we

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Speaker 7: rank Carbon New York ranks number one by demand and

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Speaker 7: Carbon Miami ranks number two by demand.

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Speaker 4: Okay, top two and both.

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Speaker 3: Have you been to Carbone.

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Speaker 4: I've been to Carbone Vegas.

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Speaker 3: Okay, I have not been the car Yeah, so we'll

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Speaker 3: see how this thing goes.

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Speaker 7: Hopeful, we got a feel and I know why I'm here.

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Speaker 3: This is a New York thing, all right, So let's

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Speaker 3: let's just start at the beginning. How do you actually

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Speaker 3: get into the culinary business, and how do you actually

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Speaker 3: start major food group and what's the first steps to

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Speaker 3: actually building this empire?

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Speaker 7: I mean, I would take it all the way back

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Speaker 7: to the very very beginning, which is you know, me

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Speaker 7: being a child. I think my first influence of the

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Speaker 7: of food was my grandparents, who were born in Italy.

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Speaker 7: They were my babysitter kind of in Queens. They'd watch

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Speaker 7: me and you know, invariably they'd be in the kitchen

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Speaker 7: doing something, make preparing something, working on something. So you know,

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Speaker 7: my early, early early memories and early photos or me

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Speaker 7: in my grandparents' kitchen and Queens, and I think that

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Speaker 7: was an introduction to food, the importance that we put

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Speaker 7: on food as a family. And then I think as

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Speaker 7: I grew up, I never lost that interest. And I

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Speaker 7: started working in local restaurants when I was about fifteen,

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Speaker 7: after school and on weekends, just trying to make a

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Speaker 7: little bit of money, and I fell in love with

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Speaker 7: the business of it. And I think that's really important.

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Speaker 7: I think it's important that if you're going to choose

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Speaker 7: this profession, that you love them both. It's not enough

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Speaker 7: to just be a really passionate, enthusiastic cook at home

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Speaker 7: entertainer at home. You think you love this, there's a

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Speaker 7: whole other side of the business of it that's chaotic,

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Speaker 7: it's intense, it's difficult, it's long, hours. It's hard work.

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Speaker 7: You have to love both of those things equally. If

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Speaker 7: you don't, then then one of them is probably going

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Speaker 7: to give out over time.

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Speaker 3: How did you get who mentored you in a business

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Speaker 3: side of it, because like learning about food costs and employees,

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Speaker 3: Like most of the time, if you're just a chef,

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Speaker 3: you're not really who did you just do that on

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Speaker 3: your own or you had like a mentor that actually

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Speaker 3: was showing you the books and showing you how businesses were.

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Speaker 7: Being I think it's a collection of all all of

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Speaker 7: my experiences, from the earliest ones, you know, humble, local

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Speaker 7: local restaurants into you know, going to culinary school, leaving

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Speaker 7: there and then sort of deciding I was going to

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Speaker 7: work for the very best restaurants and chefs all over

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Speaker 7: the world. So I think I took a little bit

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Speaker 7: from from from all of these places, and I sort

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Speaker 7: of collected business acumen, cooking techniques, you know, thematic ambiances,

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Speaker 7: what was working for different people, what were their styles,

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Speaker 7: And I think eventually that college becomes your style.

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Speaker 4: So you you blended in from your experiences. But when

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Speaker 4: you get to a culinary school, because I feel like,

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Speaker 4: especially you said you're an eighties, baby, I'm an eighties

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Speaker 4: based I had saying, we don't know too many people

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Speaker 4: that are going to culinary school and what actually happens

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Speaker 4: inside of high school. I know there was a great

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Speaker 4: experience for you, but everybody's not the same. So talk

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Speaker 4: about the aspects of actually getting into it. What you're studying,

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Speaker 4: what's practicing, what's happening inside of this place.

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Speaker 7: I think the biggest thing for me with culinary school

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Speaker 7: was the fact that I wasn't a great high school student.

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Speaker 7: So I never really had the aptitude in high school.

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Speaker 7: I wasn't really that interested. I got whatever grades in

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Speaker 7: high school. And as I was getting towards the end

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Speaker 7: of my time there and senior year, and I realized

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Speaker 7: that my choices after high school were really sort of

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Speaker 7: continuing this mediocracy and lack of interest and aptitude in

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Speaker 7: formal education, or actually try this what I saw as

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Speaker 7: a vocation, like I'm going to learn this trade. Because

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Speaker 7: to your point, it still wasn't like a cool thing

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Speaker 7: to do in nineteen nine, right, you weren't. I wasn't

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Speaker 7: going around telling my boys that I was cooking after school.

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Speaker 7: So had I been a better student in high school

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Speaker 7: and had an opportunity to see a path in traditional education,

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Speaker 7: I might have taken it, and that would have taken

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Speaker 7: me somewhere entirely different. So I think it in hindsight,

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Speaker 7: it was luck for me that I didn't care at

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Speaker 7: all about school and I didn't really want to continue it,

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Speaker 7: so I forced myself to do this, this vocation. And

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Speaker 7: then that triggered, oh, you better make something out of this,

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Speaker 7: like now you you you made this bed, you know,

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Speaker 7: so now you better make something out of it because

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Speaker 7: you didn't do it in regular school. Here's culinary school.

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Speaker 7: Don't mess this one up. And then I started to

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Speaker 7: apply myself.

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Speaker 4: So I mean, the first day you get there, you

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Speaker 4: meet somebody that ends up being change your life forever.

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Speaker 4: So you're talking about luck of even getting there. But

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Speaker 4: the first day you're there you meet Jeff, which I

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Speaker 4: met rich Rich.

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Speaker 3: I'm sorry you.

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Speaker 4: Meet Rich up being a How did like from day one,

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Speaker 4: did you guys just have a synergy with your past

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Speaker 4: kind of crossing at the same time, like, yeah, we

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Speaker 4: have similar aspirations.

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Speaker 7: We didn't know that early on. I think it was

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Speaker 7: just it was day one orientation, like you were saying, uh,

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Speaker 7: you know, nineteen ninety eight and we met and we

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Speaker 7: both you know, he was from Westchester or some Queens

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Speaker 7: and it was really that it was really that short

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Speaker 7: and that sweet. It was just like, oh, hey, what's up.

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Speaker 7: You know, nice to meet you. You know, we were

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Speaker 7: meeting kids from all over the country, all over the world,

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Speaker 7: and I was like, oh, you're you're kind of from

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Speaker 7: You're kind of your New York. So like great, like

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Speaker 7: nice to meet you. And then later on in our

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Speaker 7: time at school, the girl that he was dating and

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Speaker 7: the girl that I was dating were friends, so we

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Speaker 7: wound up going out to like dinner together and like

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Speaker 7: hanging out a little bit. And I think it was

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Speaker 7: and we stayed friends through our time there. But I

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Speaker 7: think it was the fact that we both had nearly

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Speaker 7: identical ambition to do the same thing in the same place,

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Speaker 7: with virtually the same goals, which was really, I want

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Speaker 7: to go to New York City, I want to graduate,

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Speaker 7: I want to go to New York City. I want

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Speaker 7: to work for the best restaurants, best chefs. I don't

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Speaker 7: care what I have to do, put my head down,

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Speaker 7: que my mouth shut, and make myself a great chef.

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Speaker 7: And through those almost identical pass we wound up staying

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Speaker 7: friends for the next decade. I knew where he was working,

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Speaker 7: he knew where I was working. Sometimes we worked in

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Speaker 7: the same restaurants, which was really cool. We eventually became

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Speaker 7: roommates in the West Village, and then all of that

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Speaker 7: started to really grow like a deep friendship, a brotherhood,

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Speaker 7: to where we trusted each other with our thoughts, with

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Speaker 7: our ideas. You know, we'd stay up late at night

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Speaker 7: talking about our ambition and our ideas and the things

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Speaker 7: we wanted to do. And through that process of becoming

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Speaker 7: so close and divulging in each other, we when it

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Speaker 7: came time to start a business, we trusted each other

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Speaker 7: very very much. We knew that that other person had

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Speaker 7: my back and they had the same ambition.

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Speaker 3: So, okay, you start the business right what you opened

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Speaker 3: the restaurant first, that's the first thing you do.

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Speaker 7: When so yeah, I mean it was probably ten or

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Speaker 7: eleven years after graduation. So like the first decade is

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Speaker 7: you know, just keep your mouth shut, go work everywhere,

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Speaker 7: work for the best, grind it out. It's not glamorous,

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Speaker 7: there's very little money in it. But you're there to

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Speaker 7: just build your experiences and your resume. And then end

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Speaker 7: of two thousand and nine, the very beginning of twenty ten,

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Speaker 7: we opened Rich and I opened our first restaurant. Basically,

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Speaker 7: the way that came about was we both had ambition

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Speaker 7: to be entrepreneurs in New York City, and then there

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Speaker 7: was a financial crisis in two thousand and eight, which

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Speaker 7: basically meant that any investors for the two of us

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Speaker 7: were dried up. We were unproven, we were young, We

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Speaker 7: had no track record of making anybody any money. So

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Speaker 7: it makes sense that we really had a hard time

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Speaker 7: finding any sort of investment to do this thing. But

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Speaker 7: we were really ready to be our own bosses. So

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Speaker 7: we decided the only way to do it right now

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Speaker 7: would be to do it together. Put aside your personal

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Speaker 7: dreams and my personal dreams, let's make them collective dreams.

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Speaker 7: And we put the little bit of resources that we

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Speaker 7: had each had put aside, each of our families, had

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Speaker 7: a little bit of money saved for us, and a

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Speaker 7: couple of friends, and we opened a four hundred square

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Speaker 7: foot almost the size of this room restaurant, if you

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Speaker 7: want to call it, that, six table restaurant, Teresa Time Specialties,

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Speaker 7: which still exists now just a little bit further north,

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Speaker 7: on that same block, six tables, twenty customers at a time.

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Speaker 7: We served We were basically a deli in the daytime

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Speaker 7: and we had one menu at night. That was really

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Speaker 7: all we could serve, so sandwiches in the daytime and

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Speaker 7: a menu at night. And that was our very first

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Speaker 7: foray into being businessmen and figuring out all the things

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Speaker 7: that go along with that.

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Speaker 4: But it's the ten years of experienced product gets you

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Speaker 4: to this point. So as you're saying, and I'm thinking

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Speaker 4: to myself, what are the things that you're applying from

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Speaker 4: what you've learned when you're grinding, you're not making much money,

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Speaker 4: you're learning about hospitality. I'm sure food, coutse, menu options, presentation,

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Speaker 4: all the what are the things that those key components

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Speaker 4: that you're saying, all right, we need to add this.

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Speaker 4: When we start, even in four hunder square fee, we.

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Speaker 7: Were very confident that we could we could we could

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Speaker 7: make the food, We could make something, We could make

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Speaker 7: a product that people wanted. We had we knew the

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Speaker 7: local press community from being in all these restaurants in

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Speaker 7: New York. We knew who the who the journalists were,

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Speaker 7: we knew who the critics were. We could get our

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Speaker 7: message out to them, which was important. We were a

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Speaker 7: product of the city, so it felt like they wanted

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Speaker 7: to root for us. We were these young kids from

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Speaker 7: New York doing a very New York thing. Finding our

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Speaker 7: voice was a critical thing early on. Who are we?

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Speaker 7: Who are what is this thing we're building? And when

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Speaker 7: we came across the idea that we needed to we

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Speaker 7: needed to portray our upbringing in this restaurant. We needed

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Speaker 7: we needed to be Italian American and what did that

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Speaker 7: mean to us? So when we found that voice, it

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Speaker 7: became easy to speak about it. It became easy to reach

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Speaker 7: out to these journalists, Hey, can you help get our

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Speaker 7: message out there? We're going to open this little thing,

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Speaker 7: and it felt like everybody rallied around us. It was

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Speaker 7: a really beautiful time for us.

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Speaker 3: So what's the point where you really hit your stride

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Speaker 3: and you start to really take off in a situation.

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Speaker 7: We got a couple of really incredible critical reviews of

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Speaker 7: that restaurant from New York Magazine, from the New York Times,

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Speaker 7: So that took us from you need to know about

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Speaker 7: this little place in the neighborhood to the entire city

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Speaker 7: being made aware of what we're doing in this restaurant.

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Speaker 7: So once those happened, we had pretty quickly outgrown the

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Speaker 7: square footage that we had. You know, we weren't taking

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Speaker 7: reservations at the time, so a line would form early

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Speaker 7: in the afternoon waiting for reservations for that night. Those

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Speaker 7: are those big moments where you're like, oh shit, man,

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Speaker 7: there's a line outside, like it wraps around the block,

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Speaker 7: like they're here for reservations. Those are big moments to

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Speaker 7: be to be recognized by your colleagues like that at

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Speaker 7: the highest level in New York was was we're big

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Speaker 7: turning points for us.

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Speaker 4: So you get the write ups New York Times. That's huge.

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Speaker 4: So there's a different time. So like people listening now

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Speaker 4: like that, don't reprint this is a huge thing New

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Speaker 4: York Times. Like social media, I mean it existed, but

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Speaker 4: Facebook is Instagram isn't what it is?

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Speaker 3: Right.

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Speaker 4: You also get Michelin start, Yeah in two thy thirteen,

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Speaker 4: twenty fourteen. Yeah, for the people in the restaurant, this

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Speaker 4: is like this is your stamp. Like at the time

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Speaker 4: when you get Michelin started, I know things have changed

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Speaker 4: and we'll get into that later, but what does that

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Speaker 4: feel like and what's the process of becoming Michelin started.

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Speaker 4: And for those who don't know, I can explain what

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Speaker 4: it means to somebody in the restaurant into your world.

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Speaker 7: Well, I think the stars that we put the most,

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Speaker 7: we put the most weight into are are and still

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Speaker 7: are still and will always be The New York Times,

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Speaker 7: I think for us, because that's that's the that's the

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Speaker 7: system we grew up reading. That's the paper we'd run

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Speaker 7: to go get to see who was the review that day.

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Speaker 7: So for us, it's always been The New York Times.

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Speaker 7: You know, Michelin wasn't wasn't a thing yet in New

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Speaker 7: York when we were coming up. Now, Michelin is a

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Speaker 7: big thing and it's a big business. And we could

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Speaker 7: talk for a long time about Michelin. But I'm not

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Speaker 7: exactly sure what the criteria is. I don't not sure

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Speaker 7: sure anybody really does. But it's it's it's it's certainly

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Speaker 7: closely watched by a lot of people, and if you

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Speaker 7: are recognized by them, it's a big deal for your business.

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Speaker 3: So, okay, so you get a cult following in New York,

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Speaker 3: then you open up it. After that, that's when you

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Speaker 3: open up Carbo.

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Speaker 7: We wound up taking the space directly next door to Terresi,

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Speaker 7: and that became a really casual sort of sandwich shop

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Speaker 7: called Palm. So they know, that was just kind of

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Speaker 7: luck of the draw that the place next to us

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Speaker 7: went out of business and we wound up having these

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Speaker 7: two stores next to each other. So basically, the deli

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Speaker 7: that was in Too Easy moved next door and that

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Speaker 7: just became a restaurant, and we thought that would hold

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Speaker 7: us over for some time. But we kind of quickly

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Speaker 7: outgrew both of those as well. You know, each one

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Speaker 7: really small, I mean collectively, you're still talking about a

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Speaker 7: thousand square feet, so it didn't take long before we

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Speaker 7: outgrew both of those little spaces. And the third one

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Speaker 7: was our next big leap, which was taking on a

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Speaker 7: quote unquote real restaurant, which was would be Carbone.

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Speaker 3: So all right, restaurant industry, I think it's like a

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Speaker 3: ninety percent failure rate, right, even people that have money.

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Speaker 3: We see a lot of athletes, they don't. They're not

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Speaker 3: successful in restaurants. Foot traffic is very random. It is

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Speaker 3: hard to keep people inconsistently. What is some mistakes that

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Speaker 3: you see restaurant toys make and how what are the

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Speaker 3: things that you have done differently to break those odds,

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Speaker 3: and you know, be the outlier.

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Speaker 7: You'd be hard pressed to find an industry with more

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Speaker 7: complexity than a restaurant business with more moving parts a restaurant.

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Speaker 7: A business as difficult as it is that even when

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Speaker 7: you are successful, the percentage of profitability what is considered

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Speaker 7: successful is still relatively small for another business, which makes

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Speaker 7: the whole thing incredibly difficult. The problem is it's a

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Speaker 7: cool business. So there's another element of vanity involved in

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Speaker 7: these businesses. You want a host, you want your name

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Speaker 7: in lights, whatever it might be, so it looks like

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Speaker 7: a lot of fun. That's where it That's where the

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Speaker 7: danger lies. So things that we've done to be successful,

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Speaker 7: you know, I'm not quite sure. I think we tell

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Speaker 7: a very clear story. We have a story and we

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Speaker 7: have a product that I believe people want, identifying that,

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Speaker 7: knowing that we try not to build selfish products. We

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Speaker 7: try to remember that there's a customer on the other

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Speaker 7: side of that. Making something that people want, making a

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Speaker 7: great version of something that people want, giving them something

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Speaker 7: that they can't experience on their couch. You know, this

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Speaker 7: day and age, you know, not so much when we started,

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Speaker 7: but this day and age, you know, there's so many

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Speaker 7: delivery services, so, like the business has changed a great

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Speaker 7: deal from when we started, from social media to the

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Speaker 7: delivery apps. My business is completely different than when we

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Speaker 7: first started, So we had to adapt as well. So

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Speaker 7: giving them an experience, giving them a night out, making

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Speaker 7: it something that you can't replicate form ubritz.

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Speaker 3: Also the scarcity model, right have you manufactured? Because it's

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Speaker 3: like going to a club. Right, If you can see

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Speaker 3: a club that has no line, you're not really interested

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Speaker 3: in going in. But if you see the line is

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Speaker 3: like three blocks long, you're at least curious to know

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Speaker 3: why this line is three blocks long, right, which makes

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Speaker 3: you want to spend more money for bottles. Being that

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Speaker 3: you can't really get into your restaurant, it makes people

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Speaker 3: want to get into your restaurant. Is that done purposely?

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Speaker 7: I mean it's not done purposely. You can't. You can't

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Speaker 7: fake having a product that's in demand, right, you had

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Speaker 7: to have created the product. So it all starts with

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Speaker 7: the product. Like Carbone was a great restaurant. We built

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Speaker 7: a great restaurant. We had no idea the outcome, you know,

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Speaker 7: it was take on a bigger project than we've ever

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Speaker 7: taken on and do your best, put everything you've got

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Speaker 7: behind it. Make a great product. So it has to

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Speaker 7: start there, and then good problems will come, you know,

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Speaker 7: the good. The good will come out of that, but

398
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Speaker 7: keep super focused on the product and not the outcome,

399
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Speaker 7: because there is no outcome without the product. So we

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Speaker 7: built a great restaurant. Thankfully, you know, it's been and

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Speaker 7: continues to be in demand by a really wide demographic

402
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Speaker 7: of people. You know, for everything from you know, my

403
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Speaker 7: parents and grandparents to the new athlete that just got drafted.

404
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Speaker 7: They all love it and it's rooted in nostalgia, so

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Speaker 7: it touches a lot of people. And then you get

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Speaker 7: into the scarcity model. Then you get into Okay, I've

407
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Speaker 7: got a really good problem on my hands. How do

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Speaker 7: I solve it? The really good problem is I've got

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Speaker 7: more demand than I have seats. Now we're in a

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Speaker 7: position where we want to make sure we take care

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Speaker 7: of the people that have taken care of us. So

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Speaker 7: all those people that are regulars, that have been regulars,

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Speaker 7: that are great customers, we want to make sure we

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Speaker 7: take care of them. The last thing you want to

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Speaker 7: do with I have two hundred seats, The last thing

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Speaker 7: I want to do is just have two hundred random

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Speaker 7: people in the restaurant that I don't know. They could

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Speaker 7: come in a two top, can come in order a

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Speaker 7: bottle of sparkling water and split a pasta and lead

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Speaker 7: that doesn't help me. Or I can know exactly who

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Speaker 7: those two people are that are coming because they're regulars.

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Speaker 7: I know all I know all of their spending habits,

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Speaker 7: I know everything that they like and they don't like.

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Speaker 7: And I can put those two people in there. That's

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Speaker 7: totally changes my night. So that's how the scarcity model

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Speaker 7: works in my favor, is that I take care of

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Speaker 7: the people that take care of me and take care

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Speaker 7: of the company by making sure they always have access

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Speaker 7: to tables.

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Speaker 3: When you scale.

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Speaker 4: Because even when you were talking about the deli and

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Speaker 4: having the restaurant, I'm thinking to myself, most restaurants don't

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Speaker 4: succeed because the hours of functioning. Most people are working

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Speaker 4: and they're not there and if they don't open for lunch,

435
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Speaker 4: and how do they make revenue. The fact that you

436
00:22:44,240 --> 00:22:45,920
Speaker 4: have a deli keeps you open throughout the day, and

437
00:22:45,920 --> 00:22:47,680
Speaker 4: then you can have a restaurant at night that helps

438
00:22:47,680 --> 00:22:50,480
Speaker 4: profit Martians. When you realize that we need to grow to,

439
00:22:50,880 --> 00:22:54,040
Speaker 4: like you said, a thousand square feet. Now the process

440
00:22:54,040 --> 00:22:55,800
Speaker 4: of financing you went from two thousand and eight where

441
00:22:55,800 --> 00:22:58,240
Speaker 4: it was a financial crisis to now it's twenty eleven,

442
00:22:58,240 --> 00:23:02,960
Speaker 4: twenty twelve, thirteen. Economy is changing. Is it easier now

443
00:23:02,960 --> 00:23:04,879
Speaker 4: when you're going to investors to say, hey, I have

444
00:23:04,880 --> 00:23:07,600
Speaker 4: a proven model, going to banks, Hey we need a loan.

445
00:23:07,720 --> 00:23:10,520
Speaker 4: Here's approven model. We're in such demand. How was that

446
00:23:11,000 --> 00:23:12,440
Speaker 4: going through that at that time?

447
00:23:13,280 --> 00:23:17,000
Speaker 7: Incredibly difficult? In the beginning where you're taking you know,

448
00:23:17,080 --> 00:23:20,880
Speaker 7: virtually your your your family's life savings, and your roll

449
00:23:20,880 --> 00:23:23,800
Speaker 7: in the dice, right, so like the stakes can't possibly

450
00:23:23,840 --> 00:23:27,720
Speaker 7: be any higher. You're unknown, you're unproven except for the

451
00:23:27,760 --> 00:23:30,040
Speaker 7: people that are closest to you. And then you build

452
00:23:30,119 --> 00:23:35,000
Speaker 7: something that now has a following. So with the second

453
00:23:35,000 --> 00:23:37,840
Speaker 7: and the third project that you're seeking investment, of course,

454
00:23:37,880 --> 00:23:39,679
Speaker 7: the first people I'm going to go to other people

455
00:23:39,680 --> 00:23:42,360
Speaker 7: that that I that I've met, that i've that now

456
00:23:42,400 --> 00:23:44,960
Speaker 7: I know that enjoy my product, that are fans of

457
00:23:44,960 --> 00:23:47,440
Speaker 7: what I do. So now I've got Now I've got

458
00:23:47,480 --> 00:23:51,000
Speaker 7: some I've got some audience to talk to to ask

459
00:23:51,119 --> 00:23:52,679
Speaker 7: for Hey, would you like to be a part of

460
00:23:52,920 --> 00:23:56,680
Speaker 7: what we're doing next or our future growth where I

461
00:23:56,920 --> 00:23:59,439
Speaker 7: had I had none of that to begin with. So

462
00:23:59,480 --> 00:24:02,560
Speaker 7: the snowball starts to happen. You know, it's it's all positive.

463
00:24:02,960 --> 00:24:05,520
Speaker 7: It's all the positive snowball that comes from putting out

464
00:24:05,520 --> 00:24:07,160
Speaker 7: something that that people want.

465
00:24:07,520 --> 00:24:09,960
Speaker 4: So and at that point is that now it's you

466
00:24:10,000 --> 00:24:11,320
Speaker 4: and rich as Jeff part of this.

467
00:24:11,359 --> 00:24:13,160
Speaker 7: Ye, Jeff's a part of it. He came on really

468
00:24:13,359 --> 00:24:15,800
Speaker 7: really early on pretty much the end of the first year,

469
00:24:16,720 --> 00:24:18,359
Speaker 7: by the end of our first year in business, and

470
00:24:18,400 --> 00:24:21,160
Speaker 7: Jeff was already part of the company, you know, exactly

471
00:24:21,200 --> 00:24:24,560
Speaker 7: this point. He was a super enthusiastic early customer of

472
00:24:24,560 --> 00:24:27,280
Speaker 7: what we were doing at TRESI wound up hanging out

473
00:24:27,320 --> 00:24:29,640
Speaker 7: with us at the end of the night having drinks. Hey,

474
00:24:29,640 --> 00:24:31,440
Speaker 7: I love what you do. This is something I want

475
00:24:31,440 --> 00:24:33,439
Speaker 7: to be a part of. Here's how I could I

476
00:24:33,480 --> 00:24:36,600
Speaker 7: think I could help. You know, maybe this dynamic is

477
00:24:36,640 --> 00:24:39,719
Speaker 7: three instead of two. And over the course of you know,

478
00:24:40,240 --> 00:24:41,919
Speaker 7: talking it out with him, was like, you know, maybe this,

479
00:24:42,119 --> 00:24:47,520
Speaker 7: maybe this is the right next person. But without having

480
00:24:47,600 --> 00:24:51,600
Speaker 7: taken that leap of faith and doing TERRESI with you know,

481
00:24:51,760 --> 00:24:54,200
Speaker 7: just bootstraps, then I don't. I don't really meet Jeff

482
00:24:54,680 --> 00:24:55,040
Speaker 7: comes out.

483
00:24:55,200 --> 00:24:58,000
Speaker 3: So you said something as far as like client attention.

484
00:24:58,359 --> 00:25:01,040
Speaker 3: That's keith any business, right, it is better to keep

485
00:25:01,040 --> 00:25:03,400
Speaker 3: clients as opposed to trying to get new clients. So

486
00:25:03,640 --> 00:25:06,200
Speaker 3: and then you're keeping data and you're tracking how much

487
00:25:06,200 --> 00:25:08,800
Speaker 3: money you're spending, right, and you know your A clients

488
00:25:08,840 --> 00:25:10,640
Speaker 3: from your B clients to your C clients. That's true

489
00:25:10,680 --> 00:25:13,679
Speaker 3: in any business as well. What are you doing to

490
00:25:14,440 --> 00:25:18,280
Speaker 3: encourage them to come your A clients that's spending five

491
00:25:18,320 --> 00:25:21,439
Speaker 3: thousand dollars on wine? How are you encouraging them to

492
00:25:21,440 --> 00:25:24,080
Speaker 3: come back on a regular basis? Are you constantly in

493
00:25:24,119 --> 00:25:26,920
Speaker 3: staying in touch with them via text messages? Like what's

494
00:25:26,960 --> 00:25:28,600
Speaker 3: your communication method?

495
00:25:29,920 --> 00:25:32,840
Speaker 7: I think it's making sure that we have access for

496
00:25:32,880 --> 00:25:35,679
Speaker 7: them as much as possible, right in some sort of

497
00:25:35,680 --> 00:25:39,480
Speaker 7: tiered system. But again, I think all roads always lead

498
00:25:39,480 --> 00:25:40,120
Speaker 7: to the product.

499
00:25:40,240 --> 00:25:40,480
Speaker 4: Right.

500
00:25:41,560 --> 00:25:46,280
Speaker 7: We have to stay hot, we have to stay and demand.

501
00:25:47,280 --> 00:25:49,280
Speaker 7: How do you do that? You've got to keep putting

502
00:25:49,320 --> 00:25:52,840
Speaker 7: out the product. It's always all roads always lead back

503
00:25:52,880 --> 00:25:55,320
Speaker 7: to the product. The restaurant to stay hot for a

504
00:25:55,359 --> 00:25:58,160
Speaker 7: decade means that enough people have come in and had

505
00:25:58,200 --> 00:26:03,120
Speaker 7: great experiences. That database grows as a new customer comes

506
00:26:03,119 --> 00:26:05,600
Speaker 7: in and has a great experience and they want to

507
00:26:05,600 --> 00:26:10,760
Speaker 7: come back. Great. But if we start to slip and

508
00:26:10,800 --> 00:26:13,240
Speaker 7: someone new comes in and they're hot, well, then my

509
00:26:13,320 --> 00:26:16,919
Speaker 7: A customers are going there. I can't keep them. I

510
00:26:16,960 --> 00:26:20,399
Speaker 7: can't keep them without the product. All roads lead to it.

511
00:26:20,800 --> 00:26:22,879
Speaker 4: So even like in a scenario like that, do you

512
00:26:22,960 --> 00:26:25,800
Speaker 4: have to Let's say, you guys have the ravioli, that's amazing,

513
00:26:25,800 --> 00:26:28,520
Speaker 4: that's why people are coming down the street, somebody selling

514
00:26:28,560 --> 00:26:32,399
Speaker 4: the lasagna, and you lose some customers. Are you updating

515
00:26:33,000 --> 00:26:35,800
Speaker 4: the menu? Are you updating the products to say? All right, well,

516
00:26:36,000 --> 00:26:37,760
Speaker 4: if that's what the I don't know, you don't like

517
00:26:37,760 --> 00:26:39,960
Speaker 4: the word competition will say, if that's what the colleagues

518
00:26:39,960 --> 00:26:42,320
Speaker 4: are doing, then let's figure out how we add to

519
00:26:42,359 --> 00:26:45,360
Speaker 4: it to make sure that we can encompass all of them.

520
00:26:45,480 --> 00:26:47,560
Speaker 4: It's tricky because you don't want to add too many

521
00:26:47,600 --> 00:26:50,760
Speaker 4: things right to make sure that the price points i'mmachining

522
00:26:50,960 --> 00:26:53,040
Speaker 4: so you can have profit. You don't want to get

523
00:26:53,119 --> 00:26:55,040
Speaker 4: rid of the old things because you have loyal customers

524
00:26:55,080 --> 00:26:57,200
Speaker 4: that are coming there for that. How do you balance that.

525
00:26:58,480 --> 00:27:02,320
Speaker 7: I'm always working on working on something, I'm always working

526
00:27:02,320 --> 00:27:06,600
Speaker 7: on the product, whether it's something we just open, something

527
00:27:06,640 --> 00:27:09,520
Speaker 7: we're about to open, or looking back at something that's existing.

528
00:27:11,080 --> 00:27:12,880
Speaker 7: I think you look at it, you have to look

529
00:27:12,880 --> 00:27:14,719
Speaker 7: at it, or you'd like to try to look at

530
00:27:14,720 --> 00:27:17,720
Speaker 7: it through as many sets of eyes as possible. Be

531
00:27:17,800 --> 00:27:22,680
Speaker 7: a customer yourself, be in the kitchen, talk to the team,

532
00:27:23,400 --> 00:27:29,320
Speaker 7: talk to the customers, read reviews, collect the data, and

533
00:27:29,480 --> 00:27:34,520
Speaker 7: that will educate you as to what needs to be done,

534
00:27:34,640 --> 00:27:37,959
Speaker 7: what shouldn't be done, what should be touched. And then

535
00:27:38,000 --> 00:27:40,400
Speaker 7: there's just sort of the ambition of it all. Okay,

536
00:27:40,440 --> 00:27:42,840
Speaker 7: I want this brand to grow with me. You know,

537
00:27:42,880 --> 00:27:44,639
Speaker 7: I started it in two thousand and third, let's talk

538
00:27:44,680 --> 00:27:48,880
Speaker 7: about I started twenty thirteen. Okay, that's ten eleven years now.

539
00:27:49,400 --> 00:27:54,840
Speaker 7: It shouldn't stay stagnant. It should grow while not changing

540
00:27:54,840 --> 00:27:56,760
Speaker 7: to a point where a person who's never been there

541
00:27:56,800 --> 00:28:01,560
Speaker 7: before gets a different experience. Finding that balance and really

542
00:28:01,600 --> 00:28:04,199
Speaker 7: the only way to do it. It's up to me.

543
00:28:04,280 --> 00:28:06,240
Speaker 7: The balance is up to me where I want to

544
00:28:06,280 --> 00:28:11,840
Speaker 7: take it. So it's my personal ambition along with reading

545
00:28:11,880 --> 00:28:15,760
Speaker 7: the room, getting collecting the data, finding where I want

546
00:28:15,800 --> 00:28:20,000
Speaker 7: it to grow. But it's no different than a fashion

547
00:28:20,040 --> 00:28:23,000
Speaker 7: designer who's in a house that's ten years old, twenty

548
00:28:23,040 --> 00:28:25,919
Speaker 7: years old, thirty years old. You have the customers that

549
00:28:26,000 --> 00:28:29,840
Speaker 7: are loyal followers, and that's great earners.

550
00:28:29,880 --> 00:28:30,239
Speaker 3: What's up?

551
00:28:30,359 --> 00:28:32,800
Speaker 4: You ever walk into a small business and everything just

552
00:28:32,960 --> 00:28:36,160
Speaker 4: works like the checkout is fast, the re seats are digital,

553
00:28:36,680 --> 00:28:39,640
Speaker 4: tipping is a breeze, and you're out the door before

554
00:28:39,640 --> 00:28:43,800
Speaker 4: the line even builds. Odds are they're using Square. We

555
00:28:43,960 --> 00:28:46,520
Speaker 4: love supporting businesses that run on Square because it just

556
00:28:46,560 --> 00:28:49,800
Speaker 4: feels seamless. Whether it's a local coffee shop, a vendor

557
00:28:49,840 --> 00:28:52,080
Speaker 4: at a pop up market, or even one of our

558
00:28:52,160 --> 00:28:55,800
Speaker 4: merch partners, Square makes it easy for them to take payments,

559
00:28:56,040 --> 00:28:59,720
Speaker 4: manage inventory, and run their business with confidence, all from

560
00:28:59,800 --> 00:29:02,880
Speaker 4: one one simple system. If you're a business owner or

561
00:29:02,960 --> 00:29:06,600
Speaker 4: even just thinking about launching something soon, Square is hands

562
00:29:06,640 --> 00:29:08,600
Speaker 4: down one of the best tools out there to help

563
00:29:08,640 --> 00:29:12,360
Speaker 4: you start, run, and grow. It's not just about payments,

564
00:29:12,720 --> 00:29:15,320
Speaker 4: it's about giving you time back so you can focus

565
00:29:15,400 --> 00:29:18,120
Speaker 4: on what matters most ready. To see how Square can

566
00:29:18,160 --> 00:29:22,960
Speaker 4: transform your business, visit Square dot com, backslash, go backslash

567
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Speaker 4: eyl to learn more that Square dot com backslash, go

568
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Speaker 4: backslash eyl. Don't wait don't hesitate. Let Square handle the

569
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Speaker 4: back end so you can keep pushing your vision forward.

570
00:29:38,000 --> 00:29:40,280
Speaker 4: This episode is brought to you by P and C Bank.

571
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Speaker 4: A lot of people think podcasts about work are boring,

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Speaker 1: An illegal alien from Guatemala charged with raping a child

583
00:30:23,600 --> 00:30:27,400
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

584
00:30:27,640 --> 00:30:31,760
Speaker 1: accused of murdering a Texas man of Venezuelan charged with

585
00:30:31,840 --> 00:30:35,720
Speaker 1: filming and selling child pornography in Michigan. These are just

586
00:30:35,840 --> 00:30:39,600
Speaker 1: some of the heinous migrant criminals caught because of President

587
00:30:39,600 --> 00:30:43,160
Speaker 1: Donald J. Trump's leadership. I'm Christy Noman the United States

588
00:30:43,200 --> 00:30:48,000
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

589
00:30:48,040 --> 00:30:51,600
Speaker 1: crossings are at the lowest levels ever recorded, and over

590
00:30:51,640 --> 00:30:54,880
Speaker 1: one hundred thousand illegal aliens have been arrested. If you

591
00:30:54,960 --> 00:30:58,800
Speaker 1: are here illegally, your next you will be fine nearly

592
00:30:58,880 --> 00:31:02,920
Speaker 1: one thousand dollars day day, imprisoned and deported. You will

593
00:31:02,960 --> 00:31:06,600
Speaker 1: never return. But if you register using our CBP home

594
00:31:06,640 --> 00:31:10,000
Speaker 1: app and leave now, you could be allowed to return legally.

595
00:31:10,360 --> 00:31:15,160
Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

596
00:31:15,280 --> 00:31:17,280
Speaker 1: border and families will.

597
00:31:17,120 --> 00:31:20,000
Speaker 2: Be protected sponsored by the United States Department of Homeland Security.

598
00:31:20,840 --> 00:31:24,080
Speaker 7: But if you don't continue to gain new followers, it

599
00:31:24,160 --> 00:31:28,240
Speaker 7: will eventually die. So how do you maintain the integrity

600
00:31:28,360 --> 00:31:31,400
Speaker 7: of the brand standards that have built this thing while

601
00:31:31,400 --> 00:31:35,720
Speaker 7: continuing to innovate, to gain new customers and finding that balance.

602
00:31:35,800 --> 00:31:36,920
Speaker 7: That's just growth.

603
00:31:37,600 --> 00:31:41,080
Speaker 3: So okay, multiple streams of income very important. So you've

604
00:31:41,120 --> 00:31:44,760
Speaker 3: diversified your portfolio, you have physical products. What's the thought

605
00:31:44,800 --> 00:31:45,640
Speaker 3: process behind that.

606
00:31:47,280 --> 00:31:50,440
Speaker 7: The thought process behind this was we believed that we

607
00:31:50,480 --> 00:31:54,720
Speaker 7: had built a brand that was nationally known while only

608
00:31:54,760 --> 00:31:58,720
Speaker 7: having a few hundred seats total. Even if you collect

609
00:31:58,760 --> 00:32:02,000
Speaker 7: all the carbones in the so certainly, we can only

610
00:32:02,000 --> 00:32:05,280
Speaker 7: reach a very very small demographic of people physically, How

611
00:32:05,320 --> 00:32:11,560
Speaker 7: do I do something? Create something that can reach a

612
00:32:11,640 --> 00:32:14,880
Speaker 7: much larger percentage of the people that know who we

613
00:32:14,960 --> 00:32:18,880
Speaker 7: are and we'd like something based off the product. They'd

614
00:32:18,920 --> 00:32:22,520
Speaker 7: like a little piece of that restaurant taken home to them.

615
00:32:23,360 --> 00:32:25,920
Speaker 7: So this was was the way that we thought to

616
00:32:25,960 --> 00:32:26,720
Speaker 7: go by doing that.

617
00:32:27,440 --> 00:32:30,520
Speaker 3: Okay and okay, so you want to bottle it? Are

618
00:32:30,560 --> 00:32:33,040
Speaker 3: you working with somebody? Are you doing this independent? Are

619
00:32:33,040 --> 00:32:34,240
Speaker 3: you a partnership?

620
00:32:34,520 --> 00:32:38,960
Speaker 7: We work with you know, it starts with us creating

621
00:32:39,160 --> 00:32:42,440
Speaker 7: this sauce ourselves, like literally Rich and myself, creating this

622
00:32:42,560 --> 00:32:45,920
Speaker 7: sauce on scale because you know, as you get to

623
00:32:46,240 --> 00:32:49,440
Speaker 7: scales that we're cooking at, the recipes change. So it

624
00:32:49,440 --> 00:32:51,360
Speaker 7: took us quite some time to get to something that

625
00:32:51,360 --> 00:32:54,400
Speaker 7: we were really happy with. You're doing it at a

626
00:32:54,440 --> 00:32:57,480
Speaker 7: bottling plant where where sauce is being made on scale,

627
00:32:57,480 --> 00:33:03,120
Speaker 7: we don't own one hundred gallon drums of ovens and kettles.

628
00:33:04,080 --> 00:33:07,440
Speaker 7: So you do that locally, choosing the tomato, choosing all

629
00:33:07,440 --> 00:33:11,760
Speaker 7: the ingredients, choosing the cooking process, tweaking the recipes. Every

630
00:33:11,800 --> 00:33:14,719
Speaker 7: time a new batch is made. They send us a

631
00:33:14,760 --> 00:33:16,840
Speaker 7: sample so that we can make sure that it's exactly

632
00:33:16,880 --> 00:33:20,680
Speaker 7: where it's supposed to be. So that's kind of how

633
00:33:20,760 --> 00:33:22,240
Speaker 7: you go about it. You know, you want to take

634
00:33:22,280 --> 00:33:24,960
Speaker 7: the same sort of care and thought process with this

635
00:33:25,040 --> 00:33:27,440
Speaker 7: as you would anything you're making at the restaurants.

636
00:33:28,040 --> 00:33:30,800
Speaker 4: So multiple streams turns from having the product I use

637
00:33:30,840 --> 00:33:32,719
Speaker 4: the product the tomato besols like I was telling you.

638
00:33:33,120 --> 00:33:35,840
Speaker 4: But you have a portfolio of over forty restaurants. Yeah, right,

639
00:33:35,880 --> 00:33:41,000
Speaker 4: almost fifty now almost fifty. All of each are kind

640
00:33:41,000 --> 00:33:43,400
Speaker 4: of unique. Right if you have the Lopsy Club, which

641
00:33:43,400 --> 00:33:45,600
Speaker 4: is different from Carbone you talked about Palm. What is

642
00:33:45,640 --> 00:33:48,160
Speaker 4: the process when you're saying, let me look at that landscape,

643
00:33:48,280 --> 00:33:50,840
Speaker 4: what is it missing? How you choose the locations and

644
00:33:50,880 --> 00:33:51,960
Speaker 4: what to put in each.

645
00:33:53,200 --> 00:33:55,320
Speaker 7: I think the process is different. Sometimes it'll come to

646
00:33:55,400 --> 00:33:59,440
Speaker 7: us a developers building something a hotel or a residential tower,

647
00:34:00,080 --> 00:34:03,000
Speaker 7: and they say, we have a space available, we'd love

648
00:34:03,000 --> 00:34:07,120
Speaker 7: to have you part of the project. Sometimes it's us

649
00:34:07,280 --> 00:34:11,120
Speaker 7: seeking a space because we have like Terresi, for instance,

650
00:34:11,160 --> 00:34:14,600
Speaker 7: our original restaurant had outgrown the original space. We need

651
00:34:14,800 --> 00:34:16,560
Speaker 7: we need a space. We have to go find one,

652
00:34:16,800 --> 00:34:19,239
Speaker 7: but we don't want to leave the circumference too far

653
00:34:19,280 --> 00:34:26,440
Speaker 7: from the original location. So it's often opportunistic how we

654
00:34:26,480 --> 00:34:29,560
Speaker 7: get a hold of these spaces and then figuring out, okay,

655
00:34:29,600 --> 00:34:33,680
Speaker 7: working backwards, what does this space want, what does it

656
00:34:33,719 --> 00:34:38,400
Speaker 7: want to be. Sometimes it's it's predetermined where a hotel

657
00:34:38,440 --> 00:34:40,080
Speaker 7: will come to us and say we're looking to put

658
00:34:40,080 --> 00:34:42,520
Speaker 7: a carbone here in the city, and you can either

659
00:34:42,560 --> 00:34:45,520
Speaker 7: agree or disagree or do the deal. Or it can

660
00:34:45,520 --> 00:34:48,720
Speaker 7: be abstract, Hey, you know, let me know your thoughts

661
00:34:48,719 --> 00:34:51,400
Speaker 7: on this project and how you would program it, and

662
00:34:51,440 --> 00:34:53,560
Speaker 7: then we can go back and sort of take a

663
00:34:53,600 --> 00:34:55,880
Speaker 7: look back and say, okay, what is that project or

664
00:34:55,880 --> 00:34:58,359
Speaker 7: that city, that development, what does it want, what does

665
00:34:58,400 --> 00:35:00,800
Speaker 7: it want to be? What does it want? And uh,

666
00:35:00,840 --> 00:35:03,400
Speaker 7: and work through it. You know, what's the demographic of

667
00:35:03,440 --> 00:35:05,480
Speaker 7: the city, what's what you know? What what what do

668
00:35:05,520 --> 00:35:08,680
Speaker 7: we think that the appropriate check average would be. What's

669
00:35:08,719 --> 00:35:12,360
Speaker 7: the right concept to put there? So each each one

670
00:35:12,719 --> 00:35:16,320
Speaker 7: can be unique of how we get to the answers

671
00:35:16,320 --> 00:35:17,719
Speaker 7: we get to when you look.

672
00:35:17,640 --> 00:35:20,239
Speaker 4: At it, Is it ever a situation where it's there's

673
00:35:20,280 --> 00:35:22,719
Speaker 4: a there's a real estate component to it, where we

674
00:35:22,800 --> 00:35:26,040
Speaker 4: actually now have ownership or equity inside of these developments.

675
00:35:26,400 --> 00:35:27,480
Speaker 4: Does that come into play as well.

676
00:35:27,719 --> 00:35:30,359
Speaker 7: Yes, uh, for sure, you want to. You know, as

677
00:35:30,360 --> 00:35:33,759
Speaker 7: you get bigger and the brands get bigger, you want

678
00:35:33,800 --> 00:35:36,640
Speaker 7: to try to leverage them as much as possible. So

679
00:35:38,040 --> 00:35:42,560
Speaker 7: we're fully aware that food and beverage greatly affects you know,

680
00:35:42,680 --> 00:35:45,520
Speaker 7: how you the customer feel about that hotel. I stay

681
00:35:45,520 --> 00:35:47,399
Speaker 7: at that hotel because it's got that great restaurant in size,

682
00:35:47,480 --> 00:35:49,640
Speaker 7: this is true. Or I might buy a condo in

683
00:35:49,640 --> 00:35:52,840
Speaker 7: that building because it's got a it's got a carbone

684
00:35:52,880 --> 00:35:55,759
Speaker 7: in it or whatever. Okay, well, if we're affecting it

685
00:35:55,840 --> 00:35:58,760
Speaker 7: that greatly for the owner of the building of developer,

686
00:35:59,080 --> 00:36:00,520
Speaker 7: well then there should be something in it for us

687
00:36:00,520 --> 00:36:05,719
Speaker 7: as well. But all you know, fifty restaurants, we've got

688
00:36:05,719 --> 00:36:08,239
Speaker 7: fifty different deals. You know, they're all different, they all

689
00:36:08,239 --> 00:36:11,200
Speaker 7: look a little different. And that's just kind of growth

690
00:36:11,239 --> 00:36:13,120
Speaker 7: as well and teaching. You know, no one, no one

691
00:36:13,120 --> 00:36:15,720
Speaker 7: teaches this, so you know, learning as you go along

692
00:36:15,840 --> 00:36:17,640
Speaker 7: how to how to construct these things and how to

693
00:36:17,680 --> 00:36:20,759
Speaker 7: put them together for the good of the business, the

694
00:36:20,760 --> 00:36:21,440
Speaker 7: best of the business.

695
00:36:21,719 --> 00:36:23,920
Speaker 3: Can you talk about Carbone Beach in the partnership with

696
00:36:23,960 --> 00:36:25,080
Speaker 3: American Express.

697
00:36:24,920 --> 00:36:28,359
Speaker 7: Absolutely, American Express has been an amazing partner to us

698
00:36:28,360 --> 00:36:33,440
Speaker 7: for years now and where now we've just finished our

699
00:36:33,480 --> 00:36:37,320
Speaker 7: third year of Carbone Beach, so there's been three uh,

700
00:36:37,760 --> 00:36:39,759
Speaker 7: you know, and it's in line with the Formula one

701
00:36:39,840 --> 00:36:41,680
Speaker 7: race in Miami, so there's been three of those now.

702
00:36:42,200 --> 00:36:45,520
Speaker 7: And you know, the first year came about because as

703
00:36:46,080 --> 00:36:48,239
Speaker 7: as this sort of Formula one race in Miami was

704
00:36:48,280 --> 00:36:51,040
Speaker 7: happening and all the buzz and talk about it coming

705
00:36:51,160 --> 00:36:54,160
Speaker 7: to Miami, you know, we realized we needed to do

706
00:36:54,239 --> 00:36:58,120
Speaker 7: something on scale with what was what was looking like

707
00:36:58,160 --> 00:36:59,400
Speaker 7: it was going to be the biggest week end of

708
00:36:59,400 --> 00:37:02,040
Speaker 7: the year in the city. Like, well, if this is

709
00:37:02,040 --> 00:37:03,360
Speaker 7: the biggest week of the year, we need to we

710
00:37:03,400 --> 00:37:05,600
Speaker 7: need to go big two. It's not enough to just

711
00:37:05,600 --> 00:37:08,280
Speaker 7: have the restaurants. So we came up with this idea

712
00:37:08,560 --> 00:37:13,680
Speaker 7: of this sort of basically old world supper club, very glamorous,

713
00:37:13,880 --> 00:37:17,200
Speaker 7: you know, weekend of dinners where there'd be a performance,

714
00:37:17,640 --> 00:37:21,759
Speaker 7: there'd be this over the top meal, all sorts of

715
00:37:21,840 --> 00:37:27,120
Speaker 7: activations happening around it. But the scale was the scale

716
00:37:27,160 --> 00:37:28,920
Speaker 7: we were talking about was crazy. It was the biggest

717
00:37:28,920 --> 00:37:33,000
Speaker 7: thing we've ever done, basically building an airplane hangar on

718
00:37:33,080 --> 00:37:37,240
Speaker 7: the beach of Miami. So we needed help, and AMEX

719
00:37:37,320 --> 00:37:40,399
Speaker 7: has always been, you know, really really supportive of us,

720
00:37:40,640 --> 00:37:42,719
Speaker 7: great partners. They were the first people we thought of

721
00:37:42,760 --> 00:37:47,160
Speaker 7: the call and Queen's guy, Steve Squiry, CEO. Shout out

722
00:37:47,160 --> 00:37:50,600
Speaker 7: to Steve Squirrey, the CEO of AMEX mcclancy High School.

723
00:37:51,320 --> 00:37:54,560
Speaker 7: We gave him a call and and and he was like, absolutely, well,

724
00:37:54,600 --> 00:37:57,440
Speaker 7: we would love to partner with you. So that was

725
00:37:57,480 --> 00:38:00,080
Speaker 7: the beginning of a of a great relationship. And and

726
00:38:01,000 --> 00:38:03,040
Speaker 7: what is basically the Academy Awards for us, and it's

727
00:38:03,040 --> 00:38:05,440
Speaker 7: the biggest event of the year we put on. It

728
00:38:06,040 --> 00:38:08,320
Speaker 7: takes virtually the whole year to put it together.

729
00:38:08,800 --> 00:38:11,479
Speaker 4: You're talking about high level. I remember last year when

730
00:38:11,840 --> 00:38:15,240
Speaker 4: I saw Nails on stage and Cali was just recorded

731
00:38:15,320 --> 00:38:19,560
Speaker 4: and Stout was their ice sculptures. It was an amazing

732
00:38:19,600 --> 00:38:21,279
Speaker 4: looking event. I'm sure this year we missed. This year

733
00:38:21,280 --> 00:38:24,319
Speaker 4: we were out of dear friend's birthday party out of town,

734
00:38:24,360 --> 00:38:26,680
Speaker 4: so we missed it. But when I thought about it,

735
00:38:27,360 --> 00:38:29,759
Speaker 4: and I'm glad you brought up F one, it makes

736
00:38:29,760 --> 00:38:31,840
Speaker 4: you feel like maybe this is something that can happen

737
00:38:31,880 --> 00:38:34,480
Speaker 4: at additional f ones. I know you're in Vegas already,

738
00:38:35,840 --> 00:38:37,680
Speaker 4: and shout out to the Aria because you're in there

739
00:38:38,080 --> 00:38:41,000
Speaker 4: one of the reasons we say, but is there potential

740
00:38:41,080 --> 00:38:45,279
Speaker 4: to follow events right, whether it's the World Cup which

741
00:38:45,320 --> 00:38:47,880
Speaker 4: is coming it'll be in Miami as well. F One

742
00:38:47,960 --> 00:38:50,279
Speaker 4: which travels throughout the world. Is that on the vision

743
00:38:50,280 --> 00:38:50,920
Speaker 4: board as well?

744
00:38:50,960 --> 00:38:54,840
Speaker 7: There's definitely demand for it. We've done carbon Beach in

745
00:38:55,000 --> 00:38:59,040
Speaker 7: Doha for the Formula One race there. We plan to

746
00:38:59,040 --> 00:39:01,680
Speaker 7: do it again this year there. So some of these

747
00:39:01,719 --> 00:39:06,319
Speaker 7: bigger events have been reaching out based off of the

748
00:39:06,360 --> 00:39:10,760
Speaker 7: success of the one of Miami. And again it's it's

749
00:39:10,760 --> 00:39:12,960
Speaker 7: it's for us because it's judging risk award because it's

750
00:39:12,960 --> 00:39:14,640
Speaker 7: such a big lift for us. It takes so many

751
00:39:14,640 --> 00:39:17,160
Speaker 7: team members, so many man hours to put it on

752
00:39:17,280 --> 00:39:22,760
Speaker 7: to make it great that you know, you're always looking

753
00:39:22,800 --> 00:39:25,640
Speaker 7: at it as as you know, what is the what

754
00:39:25,640 --> 00:39:27,319
Speaker 7: what's the what's the risk award here? What's the what's

755
00:39:27,360 --> 00:39:29,839
Speaker 7: the level of risk for us to send a whole

756
00:39:29,880 --> 00:39:33,240
Speaker 7: squad hours and hours away from from their home base.

757
00:39:34,719 --> 00:39:37,000
Speaker 7: But I'd say there to your point, there is definitely

758
00:39:37,000 --> 00:39:39,600
Speaker 7: growing demand for this, this Carbone Beach product at big

759
00:39:39,600 --> 00:39:40,480
Speaker 7: events around the world.

760
00:39:40,719 --> 00:39:42,320
Speaker 3: How how are you able to manage COVID?

761
00:39:44,360 --> 00:39:45,839
Speaker 7: No one was ready for it right. I mean, there

762
00:39:45,840 --> 00:39:47,480
Speaker 7: was no sign that this thing was going to happen.

763
00:39:47,840 --> 00:39:50,920
Speaker 7: So we were just plugging along, New York based company.

764
00:39:52,080 --> 00:39:54,439
Speaker 7: We had a we had I think at the time

765
00:39:54,480 --> 00:39:58,799
Speaker 7: maybe almost three thousand employees, and you know, we had

766
00:39:58,840 --> 00:40:00,840
Speaker 7: our plans for the future. We were you know, I

767
00:40:00,840 --> 00:40:03,000
Speaker 7: remember exactly where we were the last night we were

768
00:40:03,000 --> 00:40:07,879
Speaker 7: in business before that happened. And this thing comes out

769
00:40:07,880 --> 00:40:14,239
Speaker 7: of nowhere and decimates the business landscape. So then we

770
00:40:14,280 --> 00:40:18,319
Speaker 7: turn around and a week or so later, we have

771
00:40:18,440 --> 00:40:23,960
Speaker 7: twenty employees on the payroll and one functioning restaurant, which

772
00:40:24,000 --> 00:40:30,040
Speaker 7: is Carbone on Thompson Street. Yeah, and one functioning restaurant

773
00:40:30,280 --> 00:40:34,600
Speaker 7: which was Carbone, and Carbone was putting Rigatoni into go boxes.

774
00:40:37,360 --> 00:40:39,440
Speaker 7: We didn't we we did like everybody else, didn't really

775
00:40:39,440 --> 00:40:43,680
Speaker 7: know what hit us. But I think that what we

776
00:40:44,120 --> 00:40:50,360
Speaker 7: did really well in that moment was pivot hard fast,

777
00:40:51,560 --> 00:40:55,439
Speaker 7: and we came together. We talked and we said, we're

778
00:40:55,520 --> 00:40:58,840
Speaker 7: not going to accept not being able to do business,

779
00:40:59,280 --> 00:41:03,560
Speaker 7: So where can we do business? And virtually the only

780
00:41:03,600 --> 00:41:06,640
Speaker 7: city in the world that was up and running and

781
00:41:06,680 --> 00:41:10,320
Speaker 7: conducting business and conducting life as was nothing was happening

782
00:41:10,440 --> 00:41:12,760
Speaker 7: was Miami Florida and Atlanta, Atlanta.

783
00:41:13,000 --> 00:41:20,680
Speaker 8: Maybe Atlanta, like COVID didn't come here, existed. You're like, okay, Miami,

784
00:41:20,719 --> 00:41:22,479
Speaker 8: we know people in Miami. We wanted to go to Miami.

785
00:41:22,520 --> 00:41:24,839
Speaker 8: Miami was on the board. Let's let's make some calls.

786
00:41:24,920 --> 00:41:28,120
Speaker 8: Let's go there quick. And we grabbed the space, a

787
00:41:28,200 --> 00:41:33,000
Speaker 8: triple A space because, like everybody else, restaurants were closing

788
00:41:33,040 --> 00:41:34,480
Speaker 8: all over the place. So we were like, well, wait

789
00:41:34,520 --> 00:41:37,640
Speaker 8: a minute, these restaurants are closing. We don't know how

790
00:41:37,680 --> 00:41:39,680
Speaker 8: long COVID's gonna last, but it's not gonna last forever.

791
00:41:40,120 --> 00:41:42,319
Speaker 8: So we see a triple A space, grab it. We'll

792
00:41:42,360 --> 00:41:44,480
Speaker 8: figure it out later. So a triple A space in

793
00:41:44,520 --> 00:41:48,600
Speaker 8: South Beach came available. We grabbed it, like like this

794
00:41:48,719 --> 00:41:50,279
Speaker 8: is as good as it gets. A piece of real estate,

795
00:41:50,719 --> 00:41:54,240
Speaker 8: prime piece of real estate, literally next to prime in Miami,

796
00:41:54,960 --> 00:41:57,920
Speaker 8: and like right behind Joe's like, this space is crazy.

797
00:41:58,160 --> 00:42:00,640
Speaker 8: We have to take this space. So we took it,

798
00:42:01,360 --> 00:42:05,960
Speaker 8: and we set up a company wide zoom call. Anyone

799
00:42:06,000 --> 00:42:09,479
Speaker 8: in the company that had previously been with us could join,

800
00:42:09,560 --> 00:42:11,440
Speaker 8: and we're like, we as a company are making a

801
00:42:11,440 --> 00:42:13,399
Speaker 8: move to Miami, Florida, and we're doing it right Now

802
00:42:14,280 --> 00:42:16,040
Speaker 8: we don't know how long New York's going to be closed,

803
00:42:16,200 --> 00:42:18,200
Speaker 8: but we know the city is open. So anyone who

804
00:42:18,239 --> 00:42:20,719
Speaker 8: has had a job with us, anyone who's just been furloughed,

805
00:42:21,120 --> 00:42:23,520
Speaker 8: there's job, there's work for you in Miami.

806
00:42:24,040 --> 00:42:26,719
Speaker 7: Come down. So we had enough people come down. So

807
00:42:26,760 --> 00:42:29,120
Speaker 7: now we have not only do we have an amazing space,

808
00:42:29,160 --> 00:42:33,000
Speaker 7: but we have our team. They're now making money again.

809
00:42:33,040 --> 00:42:35,440
Speaker 7: They're getting checks from New York. From New York that

810
00:42:35,560 --> 00:42:40,680
Speaker 7: came down and we opened Carbone. Ten weeks later. We

811
00:42:40,719 --> 00:42:44,880
Speaker 7: had the restaurant up and running, and it was it

812
00:42:45,000 --> 00:42:47,800
Speaker 7: crushed because it was one of the only restaurants functioning

813
00:42:48,239 --> 00:42:50,719
Speaker 7: in one of the only cities functioning. And that was

814
00:42:50,760 --> 00:42:55,239
Speaker 7: the beginning of Miami becoming another tent pole for the

815
00:42:55,280 --> 00:42:59,160
Speaker 7: company that we had never expected. And one became thirteen

816
00:42:59,200 --> 00:43:02,799
Speaker 7: restaurants in Miami really fast because we were there, our

817
00:43:02,840 --> 00:43:05,040
Speaker 7: team was there. And then once New York came up,

818
00:43:05,280 --> 00:43:08,680
Speaker 7: came back, came back around, and now it's flourishing again.

819
00:43:08,800 --> 00:43:12,319
Speaker 7: The companies twice ASI as it was and COVID. You know,

820
00:43:12,360 --> 00:43:15,320
Speaker 7: one of the great Warren Buffet quotes is be fearful

821
00:43:15,320 --> 00:43:17,880
Speaker 7: when people are aggressive, be aggressive when people are fearful,

822
00:43:18,560 --> 00:43:21,240
Speaker 7: and we were incredibly aggressive in a very fearful moment,

823
00:43:21,480 --> 00:43:23,840
Speaker 7: and we just started scooping up spaces because this is

824
00:43:23,880 --> 00:43:24,760
Speaker 7: going to end eventually.

825
00:43:25,960 --> 00:43:31,560
Speaker 4: Man, that's crazy. So another prestigious club that you have

826
00:43:32,560 --> 00:43:36,080
Speaker 4: that is almost as difficult to get in the ZZ Club?

827
00:43:37,280 --> 00:43:39,160
Speaker 4: Can you can you talk to us about that? I

828
00:43:39,200 --> 00:43:41,799
Speaker 4: know people might have heard it mentioned in songs and

829
00:43:42,160 --> 00:43:45,680
Speaker 4: the breakdown of it, because again, you've had a base

830
00:43:45,719 --> 00:43:47,839
Speaker 4: for almost ten years, and so how do you keep

831
00:43:47,920 --> 00:43:49,840
Speaker 4: them coming back? How do you make something new? I

832
00:43:49,880 --> 00:43:52,600
Speaker 4: feel like ZZ Club becomes that. We'll talk about the

833
00:43:52,600 --> 00:43:55,799
Speaker 4: price points and applications and all that, but when you're

834
00:43:55,800 --> 00:43:58,000
Speaker 4: coming up with this, what's the thought process.

835
00:43:58,440 --> 00:44:02,040
Speaker 7: So the first Zz's Members Club, which is our members club,

836
00:44:02,680 --> 00:44:05,600
Speaker 7: was built in Miami as part of the big COVID

837
00:44:05,640 --> 00:44:08,680
Speaker 7: boom for us. Again, another incredible space that came available,

838
00:44:09,960 --> 00:44:14,239
Speaker 7: and we we had predicted and saw the beginnings of

839
00:44:14,960 --> 00:44:19,560
Speaker 7: members clubs finally becoming popularized here in the States. So

840
00:44:19,600 --> 00:44:21,560
Speaker 7: we wanted to get ahead of that a little bit.

841
00:44:22,000 --> 00:44:25,200
Speaker 7: And we thought that our fan base, our customer base,

842
00:44:25,520 --> 00:44:29,160
Speaker 7: would would would accept and really enjoy having this sort

843
00:44:29,200 --> 00:44:34,120
Speaker 7: of enclosed network. So we found a space that was

844
00:44:34,120 --> 00:44:36,360
Speaker 7: really conducive to it, which was a two floor space

845
00:44:36,760 --> 00:44:39,120
Speaker 7: kind of tucked into the design district of Miami. We

846
00:44:39,120 --> 00:44:41,880
Speaker 7: thought it was a great location, and we used the

847
00:44:41,880 --> 00:44:44,840
Speaker 7: second floor basically like an amenity space where there's a

848
00:44:44,840 --> 00:44:48,400
Speaker 7: cigar terrorist, there's a cocktail bar, there's a lounge that

849
00:44:48,480 --> 00:44:51,640
Speaker 7: kind of turns up late at night. Downstairs, you have

850
00:44:51,760 --> 00:44:53,560
Speaker 7: a restaurant, sports bar.

851
00:44:54,080 --> 00:44:54,319
Speaker 3: You know.

852
00:44:54,600 --> 00:44:58,200
Speaker 7: It's the idea is one stop shop. You're gonna walk in,

853
00:44:58,239 --> 00:45:01,400
Speaker 7: We're gonna take care of you for the night. And

854
00:45:01,480 --> 00:45:05,000
Speaker 7: what I like about members clubs is that it affords

855
00:45:05,040 --> 00:45:09,719
Speaker 7: us the opportunity to create more than just what the

856
00:45:09,760 --> 00:45:13,000
Speaker 7: walls of a traditional restaurant are. I can take care

857
00:45:13,040 --> 00:45:16,680
Speaker 7: of you more than that. I can take care of

858
00:45:16,680 --> 00:45:22,800
Speaker 7: you in different ways. It's hospitality seen through a new lens.

859
00:45:22,960 --> 00:45:26,400
Speaker 7: It's it's there's a there's a movie night, there's a

860
00:45:26,800 --> 00:45:29,440
Speaker 7: NBA finals, We're going to do cocktails and snacks based

861
00:45:29,440 --> 00:45:32,640
Speaker 7: off that. We're doing a cigar dinner tonight hosted by

862
00:45:32,719 --> 00:45:35,080
Speaker 7: Koheba whatever it is. We're doing a wine dinner. So

863
00:45:35,120 --> 00:45:37,759
Speaker 7: it's it's greater than just the traditional walls, which was

864
00:45:37,760 --> 00:45:40,279
Speaker 7: a challenge that I really liked and I thought an

865
00:45:40,320 --> 00:45:45,759
Speaker 7: ecosystem that my my fan base, my customer base would

866
00:45:45,840 --> 00:45:49,160
Speaker 7: enjoy it. So we took our first crack added in Miami.

867
00:45:49,200 --> 00:45:51,279
Speaker 7: It went really well, and then we opened one here

868
00:45:51,280 --> 00:45:51,719
Speaker 7: in New York.

869
00:45:52,440 --> 00:45:54,919
Speaker 4: Now, the fee that comes with the application, right, because

870
00:45:55,120 --> 00:45:58,399
Speaker 4: it's a pretty Is there a guarantee that you're in

871
00:45:58,760 --> 00:45:59,840
Speaker 4: or how what's the selection?

872
00:46:00,800 --> 00:46:04,239
Speaker 7: There's an application process, yeah, and basically you know, you

873
00:46:04,320 --> 00:46:07,520
Speaker 7: want to be recommended by an existing member so that

874
00:46:08,760 --> 00:46:12,320
Speaker 7: we keep the group of people really friendly. We want,

875
00:46:12,719 --> 00:46:14,920
Speaker 7: you know, people getting up from tables and going to

876
00:46:15,000 --> 00:46:19,480
Speaker 7: visit other tables and everyone knows each other. Like minded

877
00:46:20,080 --> 00:46:24,520
Speaker 7: individuals is what most clubs are looking for. So our

878
00:46:24,560 --> 00:46:28,479
Speaker 7: application process is really no different than anyone other any

879
00:46:28,480 --> 00:46:31,719
Speaker 7: other there's usually a board that will go through them

880
00:46:31,760 --> 00:46:34,879
Speaker 7: once a month or so and and figure out who

881
00:46:34,880 --> 00:46:37,319
Speaker 7: are the right fits here in the club? How many

882
00:46:37,320 --> 00:46:38,920
Speaker 7: more people are we looking to add to it? You

883
00:46:38,960 --> 00:46:41,400
Speaker 7: want to be cognizant not to add too many members

884
00:46:41,440 --> 00:46:45,080
Speaker 7: because the point of this is access, So you don't

885
00:46:45,080 --> 00:46:47,960
Speaker 7: want them hearing no too frequently. I can't get you in,

886
00:46:48,000 --> 00:46:50,200
Speaker 7: and I can't have you there's no seat for you

887
00:46:50,239 --> 00:46:53,640
Speaker 7: in the sports bar or whatever. So finding the balance

888
00:46:53,680 --> 00:46:56,799
Speaker 7: of it's it's buzzing in here. It feels like it's

889
00:46:57,160 --> 00:47:00,239
Speaker 7: the energy is really good and I can always to

890
00:47:00,280 --> 00:47:04,600
Speaker 7: get in. Is a threading of a needle there that

891
00:47:04,680 --> 00:47:06,760
Speaker 7: we need to be conscious of at all times.

892
00:47:07,440 --> 00:47:11,480
Speaker 3: So our Lady of Rocco Clothing, how do you transition

893
00:47:11,600 --> 00:47:13,160
Speaker 3: from culinary to close?

894
00:47:14,320 --> 00:47:17,439
Speaker 7: Our Lady of Roco is really well. I've been able

895
00:47:17,520 --> 00:47:20,560
Speaker 7: to be part of the design process for the uniforms

896
00:47:20,560 --> 00:47:24,160
Speaker 7: of the companies pretty much is the beginning, working with

897
00:47:24,200 --> 00:47:27,200
Speaker 7: some amazing designers like Tom Ford when he built the

898
00:47:27,280 --> 00:47:30,640
Speaker 7: uniform process of the Grill, Zach Posen who made the

899
00:47:30,760 --> 00:47:35,040
Speaker 7: very first uniform for us at at Carbone. So being

900
00:47:35,120 --> 00:47:38,040
Speaker 7: a part of the process with some amazing designers and

901
00:47:38,080 --> 00:47:41,200
Speaker 7: then doing it a little bit for myself for the company.

902
00:47:43,200 --> 00:47:46,520
Speaker 7: I say about Rocco that at this point it's really

903
00:47:46,560 --> 00:47:49,400
Speaker 7: an elaborate hobby for me. It's like the equivalent of

904
00:47:49,480 --> 00:47:51,560
Speaker 7: me painting in my free time. It just keeps my

905
00:47:52,000 --> 00:47:56,239
Speaker 7: mind lubricated. You know, maybe at some point it'll grow

906
00:47:56,280 --> 00:47:58,919
Speaker 7: beyond a hobby, but I think right now it's it's

907
00:47:59,000 --> 00:48:02,600
Speaker 7: that it's it's a way for me to have an

908
00:48:02,640 --> 00:48:05,799
Speaker 7: outlet that's a little offset through from what I traditionally do.

909
00:48:05,840 --> 00:48:09,440
Speaker 7: I think it helps me in my day job, quote unquote,

910
00:48:10,680 --> 00:48:12,400
Speaker 7: And it's always cool when I see somebody in the

911
00:48:12,400 --> 00:48:14,840
Speaker 7: dining room wearing something that we made.

912
00:48:15,360 --> 00:48:17,759
Speaker 4: I mean, obviously there's a sense of fashion that you

913
00:48:17,800 --> 00:48:21,839
Speaker 4: have and a respect for it. Talk about because it

914
00:48:21,960 --> 00:48:24,040
Speaker 4: reminds me of a time and we're from we're off

915
00:48:24,120 --> 00:48:26,600
Speaker 4: on the same era where when you went out you

916
00:48:26,680 --> 00:48:29,120
Speaker 4: have to present yourself a certain way. Dress codes, men

917
00:48:29,160 --> 00:48:32,120
Speaker 4: are thing. These things don't mean as much as they

918
00:48:32,200 --> 00:48:35,600
Speaker 4: used to. But I feel like when you have a

919
00:48:35,640 --> 00:48:38,600
Speaker 4: private club, when you have a specific theme that you're

920
00:48:38,640 --> 00:48:42,120
Speaker 4: trying to set inside of restaurants, you can dictate that

921
00:48:42,320 --> 00:48:46,200
Speaker 4: right talk about the importance of presentation and dress code,

922
00:48:46,200 --> 00:48:47,640
Speaker 4: I guess for your establishments.

923
00:48:48,200 --> 00:48:51,080
Speaker 7: So we don't have a dress code anywhere really, aside

924
00:48:51,080 --> 00:48:54,640
Speaker 7: from like you know, no shorts, no sandals in Miami,

925
00:48:54,719 --> 00:48:57,040
Speaker 7: things like that, but we're not you know, by no

926
00:48:57,120 --> 00:49:01,040
Speaker 7: means jack you are acquired or anything like that. I

927
00:49:01,120 --> 00:49:04,000
Speaker 7: don't want to create too many restraints for the customers,

928
00:49:05,440 --> 00:49:07,840
Speaker 7: but certainly as an old soul, it makes me smile

929
00:49:07,880 --> 00:49:10,839
Speaker 7: when I see somebody wearing a blazer or a suit

930
00:49:10,840 --> 00:49:14,239
Speaker 7: in the restaurant. I like that, but I get it

931
00:49:14,239 --> 00:49:17,719
Speaker 7: it's not for everybody, certainly as as as you know,

932
00:49:17,840 --> 00:49:21,600
Speaker 7: my demographic sometimes skews, you know, a little younger like

933
00:49:22,200 --> 00:49:25,080
Speaker 7: in this day and age of the thousand dollars hoodie,

934
00:49:25,680 --> 00:49:29,279
Speaker 7: Like that's what fancy is, That's what going out is.

935
00:49:31,760 --> 00:49:35,640
Speaker 7: And you know, I've listen. What I say is try

936
00:49:35,680 --> 00:49:37,640
Speaker 7: to meet the amount of time your girl put in

937
00:49:37,680 --> 00:49:41,120
Speaker 7: to get in dressed tonight or get close, Like you

938
00:49:41,160 --> 00:49:43,920
Speaker 7: can't just throw on a hoodie like she took her

939
00:49:43,920 --> 00:49:45,600
Speaker 7: an hour and a half to get ready, Like that's

940
00:49:45,640 --> 00:49:48,040
Speaker 7: what you're putting on tonight. Like you guys are both

941
00:49:48,040 --> 00:49:51,640
Speaker 7: going out right, So same place, same place, you can

942
00:49:51,680 --> 00:49:54,000
Speaker 7: go nice it's a nice restaurant. So I kind of

943
00:49:54,000 --> 00:49:55,680
Speaker 7: always have my dad's voice in my head when I'm

944
00:49:55,719 --> 00:49:57,920
Speaker 7: leaving the house. It's like you're gonna leave the house

945
00:49:57,960 --> 00:50:01,200
Speaker 7: something like that, where you're going a nice restaurant, like

946
00:50:02,120 --> 00:50:03,120
Speaker 7: you have a sweatshirt on.

947
00:50:04,320 --> 00:50:06,680
Speaker 3: So we've seen a lot of restaurants turn to like

948
00:50:06,800 --> 00:50:10,880
Speaker 3: slash clubs like Tao, and then we've seen other restaurants

949
00:50:11,719 --> 00:50:15,200
Speaker 3: like Noble they have a hotel. Is this something that

950
00:50:15,239 --> 00:50:19,000
Speaker 3: you kind of envision like a Carbone full fledged nightclub

951
00:50:19,120 --> 00:50:22,080
Speaker 3: or even a Carbone resort, Carbone hotel, like you know,

952
00:50:22,360 --> 00:50:24,800
Speaker 3: in the next stage of the hospitality.

953
00:50:24,320 --> 00:50:27,880
Speaker 7: I think it's I think, for sure, stretching out what

954
00:50:28,080 --> 00:50:33,480
Speaker 7: hospitality means to us is something that we are actively doing,

955
00:50:33,560 --> 00:50:36,000
Speaker 7: actively working on, you know, And I think it's the

956
00:50:36,040 --> 00:50:39,560
Speaker 7: one it's it's it's in areas where we're passionate and

957
00:50:39,600 --> 00:50:42,840
Speaker 7: where we think it makes sense. So like nightclub won't

958
00:50:42,840 --> 00:50:45,200
Speaker 7: make sense for us because it's just not us, it's

959
00:50:45,239 --> 00:50:47,759
Speaker 7: not our vibe. I have no interest in being like

960
00:50:47,800 --> 00:50:51,320
Speaker 7: a nightclub guy, but Carbone Hotel i'd love to open,

961
00:50:51,480 --> 00:50:55,680
Speaker 7: you know. I don't know the opportunities that'll come next,

962
00:50:55,719 --> 00:51:00,640
Speaker 7: but certainly, growing in the space of hospitality is something

963
00:51:00,640 --> 00:51:05,160
Speaker 7: that we're working on. Hotels, branded residences, consumer package goods,

964
00:51:05,960 --> 00:51:09,799
Speaker 7: private clubs. All of those areas we're actively working on

965
00:51:10,440 --> 00:51:12,880
Speaker 7: or already in for sure.

966
00:51:13,840 --> 00:51:16,520
Speaker 4: In the day and age now, I wonder what marketing

967
00:51:16,560 --> 00:51:19,279
Speaker 4: looks like for you guys, because I feel like we

968
00:51:19,360 --> 00:51:21,560
Speaker 4: hear a bunch of artists say your name. I feel

969
00:51:21,600 --> 00:51:26,080
Speaker 4: like nori Is has a residency. I mean Noori is ridiculed.

970
00:51:26,120 --> 00:51:28,480
Speaker 4: I mean every week he's there. So it feels like

971
00:51:28,520 --> 00:51:32,839
Speaker 4: you're getting promotion every day on social media. How much

972
00:51:32,840 --> 00:51:37,560
Speaker 4: does marketing come into the bottom of the baseline of

973
00:51:37,800 --> 00:51:39,600
Speaker 4: what you guys have to spend because I feel like

974
00:51:39,600 --> 00:51:42,040
Speaker 4: people just promote it in social media every day.

975
00:51:42,880 --> 00:51:46,800
Speaker 7: Yeah, we're very lucky to have a die hard group

976
00:51:46,840 --> 00:51:50,640
Speaker 7: of fans that you know, talk about it, come in.

977
00:51:51,320 --> 00:51:53,839
Speaker 7: You know, they're really well known. And in this day

978
00:51:54,000 --> 00:51:58,759
Speaker 7: social media, like everyone's got a following, right, So that's

979
00:51:58,880 --> 00:52:04,080
Speaker 7: changed dramatically how you market your business, all businesses, because

980
00:52:04,120 --> 00:52:06,359
Speaker 7: everybody is a marketer now for good you know, good

981
00:52:06,480 --> 00:52:07,880
Speaker 7: or bad, if they liked it or they didn't like

982
00:52:07,920 --> 00:52:10,759
Speaker 7: the experience, depending on the size of their following, that's

983
00:52:10,760 --> 00:52:13,960
Speaker 7: a that's a big needle mover. So we're very lucky

984
00:52:13,960 --> 00:52:17,960
Speaker 7: to have a diehard fan base there. And then for us, yeah,

985
00:52:17,960 --> 00:52:20,719
Speaker 7: I mean marketing has never really been a huge, a

986
00:52:20,800 --> 00:52:25,160
Speaker 7: huge category for us. I think that it's something I

987
00:52:25,280 --> 00:52:28,840
Speaker 7: have ambition in putting more effort and more dollars spend

988
00:52:28,880 --> 00:52:34,040
Speaker 7: into in the coming gears. I think we're actually deficient

989
00:52:34,239 --> 00:52:36,080
Speaker 7: in marketing right now as a company. I think we

990
00:52:36,120 --> 00:52:39,520
Speaker 7: need to grow that category. I think the marketing that's

991
00:52:39,560 --> 00:52:42,200
Speaker 7: opportunistic somebody comes in and they and they post about

992
00:52:42,239 --> 00:52:46,440
Speaker 7: it is great. But continuing to make sure that people

993
00:52:46,600 --> 00:52:50,000
Speaker 7: know we are this family of products. Oh, I didn't

994
00:52:50,000 --> 00:52:53,680
Speaker 7: know you own that restaurant is is a knock on

995
00:52:54,080 --> 00:52:56,200
Speaker 7: our marketing, right. We need to be better about that,

996
00:52:57,040 --> 00:53:00,279
Speaker 7: about putting the family of goods together so that you

997
00:53:00,360 --> 00:53:03,319
Speaker 7: know who we are. You know we have you know,

998
00:53:04,640 --> 00:53:06,359
Speaker 7: all of these different brands, and I want to make

999
00:53:06,400 --> 00:53:10,480
Speaker 7: sure that major food group, the mother company, is known

1000
00:53:11,000 --> 00:53:15,000
Speaker 7: as an entity of in the in the luxury hospitality space.

1001
00:53:15,400 --> 00:53:17,840
Speaker 3: Like a darting group. Yeah. Do you have any aspirations

1002
00:53:17,880 --> 00:53:21,120
Speaker 3: of becoming like CELERI like so Gordon Ramsay does a

1003
00:53:21,160 --> 00:53:25,360
Speaker 3: lot of celebrity shots, right, do you have people know

1004
00:53:25,440 --> 00:53:28,080
Speaker 3: your last name? But do you have aspirations of like

1005
00:53:28,640 --> 00:53:32,919
Speaker 3: becoming more in the forefront as a personality?

1006
00:53:33,120 --> 00:53:35,239
Speaker 7: No, I don't. I don't think I do. I mean

1007
00:53:35,280 --> 00:53:38,480
Speaker 7: I've I've had chances to sort of go down that

1008
00:53:38,640 --> 00:53:42,520
Speaker 7: road before. I've never really wanted to be the face

1009
00:53:43,040 --> 00:53:48,160
Speaker 7: of the restaurant. I like carbones standing for something, but

1010
00:53:48,280 --> 00:53:54,480
Speaker 7: not necessarily for me. Certainly, with each passing year, I

1011
00:53:54,840 --> 00:53:59,320
Speaker 7: find myself more and more being a promoter of the brands,

1012
00:53:59,360 --> 00:54:03,400
Speaker 7: and I think that I enjoy speaking on behalf of

1013
00:54:03,400 --> 00:54:06,800
Speaker 7: the company, but I don't want to take on anything

1014
00:54:06,840 --> 00:54:08,960
Speaker 7: that's going to take too much of my time away

1015
00:54:08,960 --> 00:54:11,720
Speaker 7: from what I do day to day for the business,

1016
00:54:12,160 --> 00:54:19,560
Speaker 7: and those jobs being those you know, commercial forward guys

1017
00:54:19,560 --> 00:54:21,520
Speaker 7: and girls like that, takes a huge amount of time.

1018
00:54:22,560 --> 00:54:24,840
Speaker 7: They're really good at it. It takes a lot of work,

1019
00:54:25,320 --> 00:54:28,160
Speaker 7: and I'm always fearful that it's going to take too

1020
00:54:28,239 --> 00:54:29,719
Speaker 7: much of my time away from what I do.

1021
00:54:30,320 --> 00:54:32,239
Speaker 4: And you said, you have to love the food and

1022
00:54:32,280 --> 00:54:34,400
Speaker 4: you have to love the business, And it sounds like

1023
00:54:34,480 --> 00:54:36,680
Speaker 4: I mean, it's evident when you talk. Are there parts

1024
00:54:36,719 --> 00:54:39,239
Speaker 4: of it when you look at it, like, you know what,

1025
00:54:39,320 --> 00:54:42,200
Speaker 4: I really don't like that part of the business, Like

1026
00:54:42,320 --> 00:54:44,560
Speaker 4: if we could tweet that this thing could be really

1027
00:54:44,640 --> 00:54:47,560
Speaker 4: really really amazing. What part of the business do you

1028
00:54:47,560 --> 00:54:50,600
Speaker 4: wake up and say, we're just not getting this right

1029
00:54:50,719 --> 00:54:52,480
Speaker 4: or as an industry, I wish we did better.

1030
00:54:53,239 --> 00:54:55,040
Speaker 7: Yeah, I think it's our job to focus it's our

1031
00:54:55,120 --> 00:54:58,040
Speaker 7: job as ownership to focus on the things that aren't

1032
00:54:58,080 --> 00:55:00,520
Speaker 7: going exactly what you want to. And we need to

1033
00:55:00,560 --> 00:55:05,120
Speaker 7: have those conversations almost daily. And sometimes the answer is

1034
00:55:05,239 --> 00:55:07,239
Speaker 7: I'm just not I'm just not that good at that

1035
00:55:07,400 --> 00:55:09,360
Speaker 7: I need to go seek out who the best of

1036
00:55:09,400 --> 00:55:13,759
Speaker 7: the brightest is at that thing for us. So it's

1037
00:55:13,800 --> 00:55:16,319
Speaker 7: identifying that at all times, not getting too caught up

1038
00:55:16,360 --> 00:55:19,239
Speaker 7: in in you know, hearing about how great it is

1039
00:55:19,320 --> 00:55:21,359
Speaker 7: or how popular it is, or you know, it's really

1040
00:55:21,360 --> 00:55:23,360
Speaker 7: spending the time to focus on the areas that we

1041
00:55:23,360 --> 00:55:27,240
Speaker 7: can get better at. And you know, often the answers

1042
00:55:27,400 --> 00:55:30,840
Speaker 7: is is talent. You know, constantly looking for you know,

1043
00:55:30,920 --> 00:55:33,600
Speaker 7: the next great person to add to the company or

1044
00:55:33,960 --> 00:55:37,160
Speaker 7: you know, great company that we can collaborate with that

1045
00:55:37,320 --> 00:55:39,880
Speaker 7: is experts in their field, you know, because we're always

1046
00:55:39,880 --> 00:55:42,920
Speaker 7: testing the waters of new So if you're testing the

1047
00:55:42,960 --> 00:55:45,720
Speaker 7: waters are new, then you're you're you're on shaky ground

1048
00:55:45,719 --> 00:55:48,440
Speaker 7: of something you haven't been been down the road of yet.

1049
00:55:49,000 --> 00:55:50,920
Speaker 7: So you know, at times you can get beat up

1050
00:55:50,920 --> 00:55:53,000
Speaker 7: with all the things that aren't going well or maybe

1051
00:55:53,040 --> 00:55:57,560
Speaker 7: not going right. But that's you know, that's the that's

1052
00:55:57,600 --> 00:56:00,279
Speaker 7: the double edged sword of testing the boundaries.

1053
00:56:00,360 --> 00:56:07,400
Speaker 4: I think you've acquired some of the colleagues, right, How

1054
00:56:07,560 --> 00:56:10,040
Speaker 4: is that right? When to somebody who used to have

1055
00:56:10,080 --> 00:56:12,440
Speaker 4: an establishment, you saw a great incentent, You saw us

1056
00:56:12,480 --> 00:56:15,319
Speaker 4: on things that they can improve on. But knowing the

1057
00:56:15,360 --> 00:56:17,520
Speaker 4: owner and maybe knowing the chef, maybe you know you

1058
00:56:17,560 --> 00:56:19,840
Speaker 4: have gone to school with them. What are those conversations

1059
00:56:19,920 --> 00:56:22,520
Speaker 4: right when you're looking to acquire a potential colleague.

1060
00:56:23,239 --> 00:56:25,200
Speaker 7: That's a new arm for us and something I think

1061
00:56:25,239 --> 00:56:27,279
Speaker 7: we're going to be more active in that space in

1062
00:56:27,400 --> 00:56:29,400
Speaker 7: years to come, which is sort of you know, mergers

1063
00:56:29,400 --> 00:56:35,120
Speaker 7: and acquisitions. That's a great way to bring talent into

1064
00:56:35,120 --> 00:56:40,520
Speaker 7: the company by identifying brands and the people behind those

1065
00:56:40,560 --> 00:56:44,880
Speaker 7: brands that we think operate at excellence. And if we

1066
00:56:45,719 --> 00:56:49,040
Speaker 7: it needs to be mutually beneficial. You know that that

1067
00:56:49,200 --> 00:56:52,719
Speaker 7: company or that owner, that chef wants to be part

1068
00:56:52,719 --> 00:56:56,080
Speaker 7: of this company because collectively we can grow that brand

1069
00:56:56,440 --> 00:56:59,319
Speaker 7: greater than potentially they can on their own. And for me,

1070
00:57:00,040 --> 00:57:04,239
Speaker 7: I can bring in this talent, the talent behind what

1071
00:57:04,360 --> 00:57:07,440
Speaker 7: I believe is a great brand because I think it

1072
00:57:07,440 --> 00:57:10,920
Speaker 7: fits really nicely somewhere in the portfolio and as a

1073
00:57:10,920 --> 00:57:13,279
Speaker 7: as a as the company as a whole. Now that

1074
00:57:13,320 --> 00:57:15,120
Speaker 7: we are the size that we are, we have the

1075
00:57:15,160 --> 00:57:18,120
Speaker 7: infrastructure that we have, I can lend something to them.

1076
00:57:18,360 --> 00:57:21,760
Speaker 7: So it always needs to be mutually beneficial, but it's

1077
00:57:21,800 --> 00:57:25,600
Speaker 7: an exciting thing that we're we're we're thankfully in a position.

1078
00:57:25,640 --> 00:57:28,240
Speaker 3: We're able to do well. I want to thank you

1079
00:57:28,280 --> 00:57:34,200
Speaker 3: for your time and any last words. Aspiring restaurant tours

1080
00:57:34,280 --> 00:57:38,160
Speaker 3: or business moguls in the making that you know you

1081
00:57:38,200 --> 00:57:40,080
Speaker 3: can give them some advice.

1082
00:57:39,880 --> 00:57:43,520
Speaker 7: On focus on the product, don't focus on the outcome.

1083
00:57:44,080 --> 00:57:46,120
Speaker 7: Whatever you're doing, make it, make it great, and the

1084
00:57:46,640 --> 00:57:47,640
Speaker 7: good things will come from it.

1085
00:57:48,840 --> 00:57:51,600
Speaker 3: You have it, ladies and gentlemen. Thank you, guys. Rocks

1086
00:57:51,640 --> 00:57:53,560
Speaker 3: to see you next week. Peace. Peace.

1087
00:57:53,840 --> 00:57:57,439
Speaker 1: An illegal alien from Guatemala charged with raping a child

1088
00:57:57,520 --> 00:58:01,320
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

1089
00:58:01,560 --> 00:58:05,720
Speaker 1: accused of murdering a Texas man of Venezuelan charged with

1090
00:58:05,760 --> 00:58:09,680
Speaker 1: filming and selling child pornography in Michigan. These are just

1091
00:58:09,760 --> 00:58:13,520
Speaker 1: some of the heinous migrant criminals caught because of President

1092
00:58:13,560 --> 00:58:17,160
Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

1093
00:58:17,160 --> 00:58:21,960
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

1094
00:58:22,000 --> 00:58:25,520
Speaker 1: crossings are at the lowest levels ever recorded, and over

1095
00:58:25,600 --> 00:58:28,840
Speaker 1: one hundred thousand illegal aliens have been arrested. If you

1096
00:58:28,880 --> 00:58:32,760
Speaker 1: are here illegally, your next you will be fine nearly

1097
00:58:32,840 --> 00:58:36,840
Speaker 1: one thousand dollars a day. Imprisoned and deported, you will

1098
00:58:36,880 --> 00:58:40,520
Speaker 1: never return but if you register using our CBP home

1099
00:58:40,560 --> 00:58:43,960
Speaker 1: app and leave now, you could be allowed to return legally.

1100
00:58:44,320 --> 00:58:49,080
Speaker 1: Do what's right, leave now. Under President Trump America's laws,

1101
00:58:49,240 --> 00:58:51,680
Speaker 1: border and families will be protected.

1102
00:58:51,760 --> 00:58:53,920
Speaker 2: Sponsored by the United States Department of Homeland Security,