WEBVTT - How The New Wave of Tech Companies Will Power The Creators

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<v Speaker 3>Why the model as far as getting money to creators

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<v Speaker 3>from day one, why is that so important? And if

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<v Speaker 3>this works, how is it going to change the landscape

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<v Speaker 3>of social media?

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<v Speaker 2>Well, the first thing I think about is disruption. So

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<v Speaker 2>if you're not pissing people off, then you're doing something wrong.

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<v Speaker 2>So the first thing when I got the kind of

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<v Speaker 2>the idea to really to even build the company, I

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<v Speaker 2>knew that this is going to disrupt industries because people

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<v Speaker 2>are always talking right now about TV and film music.

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<v Speaker 2>We're having all these conversations about how these how artists

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<v Speaker 2>aren't getting paid enough for streaming. How athletes aren't getting

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<v Speaker 2>paid like the college players just got nil to be

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<v Speaker 2>able to do those kinds of things we're seeing. You know,

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<v Speaker 2>movie stars get their TV shows canceled, you know Easter Rays,

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<v Speaker 2>rap shits getting getting take off, and now she needs

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<v Speaker 2>to go independent because she can own her content and

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<v Speaker 2>all that kind of stuff. So for me, it's like,

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<v Speaker 2>I don't If I don't create an environment or an

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<v Speaker 2>infrastructure where the community can own and monetize from day one,

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<v Speaker 2>it actually puts no limits because it circumvents all the industries.

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<v Speaker 2>The fact that you can pick up your phone and

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<v Speaker 2>subscribe directly to a person changes business for every single

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<v Speaker 2>person on the planet. Always say this, there's nobody that's

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<v Speaker 2>on fan Base that is not a business. A business

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<v Speaker 2>is a business ability to receive revenue or income for

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<v Speaker 2>a product or service you provide. So for that very reason,

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<v Speaker 2>by default, every single person on fan Base is a business.

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<v Speaker 2>And so I think that the ability for us to

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<v Speaker 2>generate revenue from day one, we don't have to figure

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<v Speaker 2>it out. Their apps out here that have not figured

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<v Speaker 2>it out, that are clubhouses not figured out how to

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<v Speaker 2>generate revenue there's a lot of these startups that are

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<v Speaker 2>in the social media space have not figured out how

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<v Speaker 2>to make revenue but going to direct a consumer and

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<v Speaker 2>allowing the user to decide what they want to pay for.

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<v Speaker 2>And we're seeing that with younger kids anyway. And that's

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<v Speaker 2>another thing too, it's paying like the future is, you

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<v Speaker 2>know I was talking about when you see ky snot

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<v Speaker 2>Kai is twenty twenty one, twenty two years old, he

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<v Speaker 2>has about eighty five thousand subscribers to making four hundred

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<v Speaker 2>thousand dollars a month. I can't see that as a

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<v Speaker 2>human being and not say I could do this as

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<v Speaker 2>an athlete. I could do this as a musician. I

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<v Speaker 2>don't have to be a gamer. It doesn't matter. People

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<v Speaker 2>don't want to see the kind of they want. So

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<v Speaker 2>it's extremely important that you know, we we provide a

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<v Speaker 2>new way for people to monetize directly consuming to circumvent

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<v Speaker 2>all these these pillars that that block and rob artists

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<v Speaker 2>and and athletes and and and in movie stars and everybody,

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<v Speaker 2>you know.

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<v Speaker 4>I mean, it's it's pretty evident, right, that's the way

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<v Speaker 4>we can see cause and I we can see it

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<v Speaker 4>what the athletes creating their own platforms, right, we just

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<v Speaker 4>in Lebron he has a podcast.

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<v Speaker 2>Now, Draymond comes to mind.

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<v Speaker 4>What do you think is gonna take for that drastic

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<v Speaker 4>change for people to say, alright, we're not gonna go

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<v Speaker 4>with the traditional ways of social media. Something like fan

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<v Speaker 4>base makes too much sense for us not to be

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<v Speaker 4>part of.

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<v Speaker 2>I think the first person that and I I'm looking

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<v Speaker 2>at Kai now cause again it's it's so it's so

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<v Speaker 2>interesting to me that he's making more money streaming with

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<v Speaker 2>subscribers than rappers are making recording an album, putting it

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<v Speaker 2>out and going and doing shows. Like it's like, you

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<v Speaker 2>can still do that, but there's still a lifestyle and

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<v Speaker 2>a personality that's involved of every We're all humans, so

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<v Speaker 2>we all have social lives and funny and humor or whatever.

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<v Speaker 2>So to be able to monetize that, I think that

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<v Speaker 2>it'll shift when someone like him. And I've seen this before,

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<v Speaker 2>Like again, there are these moments that happen that just

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<v Speaker 2>have me scratching my head, like I can't believe no

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<v Speaker 2>one is picking up on the fact that Bad Baby

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<v Speaker 2>made forty million dollars in a year, you know for subscribers,

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<v Speaker 2>Cosinot is making four hundred thousand dollars a month up subscribers,

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<v Speaker 2>and everybody's just not dropping a plate of food. Let

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<v Speaker 2>the the plate break and shatter and say, wait, what

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<v Speaker 2>did not just here? Hold on, I'm not finna, I'm

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<v Speaker 2>not finished. I'm not going to do all this extra

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<v Speaker 2>shit when I can just really create and live and

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<v Speaker 2>exist on social media and have fun and then and

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<v Speaker 2>then monetize and and and still you know, have the same,

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<v Speaker 2>you know, the same experience.

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<v Speaker 3>So do you think that this will be beneficial for

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<v Speaker 3>the every average day person, right, because everybody thought it'd

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<v Speaker 3>be costing not. Yeah, So the average person that has

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<v Speaker 3>a thousand followers, Yeah, they're not gonna make a lot

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<v Speaker 3>of money. So why does fan base make sense to them?

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<v Speaker 2>Well? First, okay, so I'm gonna say this because I'm

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<v Speaker 2>gonna talk about the investment portion real quick. When I

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<v Speaker 2>first started to on start Engine, the minimum to invest

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<v Speaker 2>in fan base was two hundred and forty five dollars, right,

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<v Speaker 2>the minimum to invest in fan base now it's three

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<v Speaker 2>hundred and ninety nine dollars. It's the minimum to invest

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<v Speaker 2>start engine dot comflas fan base shout out. But what

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<v Speaker 2>I say is more important than that is that there

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<v Speaker 2>are hundreds, no thousands of users on fan base that

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<v Speaker 2>have made the money using fan base that they invested

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<v Speaker 2>in fan base. So it's not about I'm not telling

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<v Speaker 2>everybody to get on here and think that you're going

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<v Speaker 2>to be a multimillionaire. But I do believe that most

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<v Speaker 2>people have enough money to make monthly the ability to

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<v Speaker 2>pay their rent or you know, to get gas or

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<v Speaker 2>put food in refrigerator. I see people making that amount

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<v Speaker 2>of money. I see a user, you know, making There's

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<v Speaker 2>a user that's made ten thousand dollars this year that

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<v Speaker 2>has less than thirty five hundred followers, an extra ten

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<v Speaker 2>thousand dollars a year like the average american's ally's forty

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<v Speaker 2>thousand dollars. You're making a quarter of what you would

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<v Speaker 2>have to do to get to make the bare minimum

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<v Speaker 2>as a salary in this country. Just making content. And

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<v Speaker 2>it's it's not like you have to sit live and

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<v Speaker 2>stream all day long. You post content. People subscribing, they

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<v Speaker 2>make that money. So if I can make somebody, if

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<v Speaker 2>I can make enough money to put gas in my

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<v Speaker 2>car just by posting content, I'm with it. If I'm

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<v Speaker 2>a young kid, of course I would do that. If

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<v Speaker 2>I can feed feed myself. I don't have to. And

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<v Speaker 2>then that's just that's like one hundred subscribers. Again, if

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<v Speaker 2>you know, you get five thousand people, five thousand people

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<v Speaker 2>are a small number of people when there's six billion

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<v Speaker 2>people on the planet. For five thousand people paying you

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<v Speaker 2>two thousand and fifty cents a month, it's twelve thousand,

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<v Speaker 2>five hundred a month, one hundred and fifty thousand dollars

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<v Speaker 2>a year. That's more than ninety seven percent of Americans make.

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<v Speaker 2>And that's just five thousand people. So it's like, it's

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<v Speaker 2>not you know, if if we took that down, like

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<v Speaker 2>I said, we took that down to five hundred people,

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<v Speaker 2>you're still making fifteen thousand dollars a year. Who wants who? Who?

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<v Speaker 2>Who wants to turn extra fifteen thousand dollars a year

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<v Speaker 2>in America? Like just about making content. It's like it's

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<v Speaker 2>it's a no brainer to me.

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<v Speaker 4>We spoke two years ago from your first interview and

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<v Speaker 4>from all the signs, right, people are making money. Right

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<v Speaker 4>functuates depending on the user, how many people uh followers

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<v Speaker 4>they have, the.

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<v Speaker 2>Company's making money and it's profitable.

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<v Speaker 4>I ask you then, So I ask you now mergers

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<v Speaker 4>and acquisitions is always a part of business.

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<v Speaker 2>Yeah, have the phones been ringing?

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<v Speaker 4>Even more so as you continue to innovate, as you

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<v Speaker 4>continue to what I see you disrupt social media in

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<v Speaker 4>a sense where you can start revolutionizing thing.

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<v Speaker 2>Have the phone calls been coming in just for no,

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<v Speaker 2>I'm gonna tell you why. Yeah, And because fan base

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<v Speaker 2>is a I always say there's two phases to success

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<v Speaker 2>in building businesses. It's to beat him phase and it's

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<v Speaker 2>to join them phase. We're still in beat them mode.

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<v Speaker 2>They're still sitting back, like I'm want to see here

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<v Speaker 2>really gonna raise his seventeen million dollars and really like

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<v Speaker 2>change the game and the way that he does. One

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<v Speaker 2>thing people, one thing that Trump's race is green is money.

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<v Speaker 2>And so I and I think I've had the best,

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<v Speaker 2>like you know example in someone seeing the way that

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<v Speaker 2>Tyler Perry built his business. At first it was our

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<v Speaker 2>beat him. Then it was like, oh well, now we

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<v Speaker 2>got to join him. You know, at some point in

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<v Speaker 2>the beginning there were no deals, but then it was

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<v Speaker 2>TBS and it was a lion's game. There was owned

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<v Speaker 2>and then it became Netflix and Amazon and now it's

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<v Speaker 2>like okay, cool, it's BT's like okay here, so fan

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<v Speaker 2>base is always until we get the we're gonna be

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<v Speaker 2>in the beat him phase because this is this is

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<v Speaker 2>majorly disruptive in the way that I say all the time. Again,

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<v Speaker 2>it's like, I think that this is one of the

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<v Speaker 2>most pivotal moments in technology, social media, and wealth building

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<v Speaker 2>because we've never been here before. Like you cannot name

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<v Speaker 2>a time that there's been a social media company that's

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<v Speaker 2>been founded that allows the public to invest. So now

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<v Speaker 2>anybody without restriction can actually own part of something that

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<v Speaker 2>they use, and then there's no limit into how fast,

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<v Speaker 2>you know, or how big these companies can get. When

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<v Speaker 2>you're looking at Facebook as a market cap of two

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<v Speaker 2>point two trillion dollars, I'm not even thinking about two trillion.

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<v Speaker 2>I mean, granted, like cool, I think Facebook is something

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<v Speaker 2>that's like a one in a lifetime, you know company,

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<v Speaker 2>But there's still companies. Even if you remove Instagram from Facebook,

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<v Speaker 2>it's still a three hundred billion dollar company, you know

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<v Speaker 2>what I'm saying. If you're looking at TikTok separated from bytdance,

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<v Speaker 2>it's still probably one hundred two hundred billion dollar company

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<v Speaker 2>just evaluated one sixty. Yeah, So I'm like, do you understand,

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<v Speaker 2>Like how how okay? So now so think of that.

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<v Speaker 2>So think of now one hundred and sixty billion dollar

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<v Speaker 2>company that's owned by people that look like us. We

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<v Speaker 2>ain't never been there before. I don't even know who

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<v Speaker 2>the richest black person on the planet is. I'm only

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<v Speaker 2>worm like nineteen billion. What's the riches about nineteen billion?

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<v Speaker 2>Legal didn't go to Yeah, yeah, like nineteen billion. So

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<v Speaker 2>I'm just saying like, yo, we ain't never. We ain't never.

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<v Speaker 2>And my point is for us to really build and

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<v Speaker 2>make and transform wealth, not only is it. And my

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<v Speaker 2>goal is not to be worth more than nineteen billion.

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<v Speaker 2>My goal is to create ten or fifteen other people

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<v Speaker 2>that are worth are multi billionaires because technology is the

0:11:26.880 --> 0:11:29.319
<v Speaker 2>fastest way. I heard Robert at Smith say this. He's like,

0:11:29.360 --> 0:11:31.080
<v Speaker 2>technology is the fastest way to do it wealth. In

0:11:31.080 --> 0:11:34.600
<v Speaker 2>this textrum, it's like all the eight of the top

0:11:34.640 --> 0:11:41.560
<v Speaker 2>ten richest people on the planet are in technology Oracle, Microsoft, Amazon, Google, Facebook,

0:11:42.240 --> 0:11:45.559
<v Speaker 2>and Eli with Tesla in acts is like, it's like, yo,

0:11:45.720 --> 0:11:47.600
<v Speaker 2>those are all the people. Only people. Bernard or naw

0:11:47.720 --> 0:11:50.080
<v Speaker 2>is the number one guy and he owned every other

0:11:50.120 --> 0:11:53.280
<v Speaker 2>brand in existence. And you know in the Berkshire Hathaway.

0:11:54.679 --> 0:11:57.280
<v Speaker 2>You know what I'm saying. But it's technology. So we're

0:11:57.320 --> 0:11:59.840
<v Speaker 2>in a we're in an unprecedented amount of a time

0:12:00.040 --> 0:12:03.680
<v Speaker 2>because ownership and equity in these in these tech companies.

0:12:04.000 --> 0:12:06.680
<v Speaker 2>These are companies that can be worth one hundred billion,

0:12:06.720 --> 0:12:09.319
<v Speaker 2>you know, like one hundred billion dollars, one hundred and

0:12:09.320 --> 0:12:12.240
<v Speaker 2>sixty billion dollars. It's totally achievable. But we've never been

0:12:12.240 --> 0:12:15.120
<v Speaker 2>there before. And I think, you know, I think we

0:12:15.200 --> 0:12:19.720
<v Speaker 2>have the the the unique opportunity to begin I was

0:12:19.720 --> 0:12:22.679
<v Speaker 2>telling I was telling people here today. I was like, Yo,

0:12:22.720 --> 0:12:26.840
<v Speaker 2>we get this wrong. You can't. Don't blame me because

0:12:26.960 --> 0:12:30.400
<v Speaker 2>it's literally here for us to take advantage of. And

0:12:30.440 --> 0:12:33.880
<v Speaker 2>that's why, you know, the rays that we're doing was

0:12:33.920 --> 0:12:38.040
<v Speaker 2>so important because it gives it there's no excuses. Once

0:12:38.080 --> 0:12:41.760
<v Speaker 2>I raise seventeen million dollars, I give everybody everything that

0:12:41.800 --> 0:12:45.000
<v Speaker 2>they want. I give every If you want certain songs,

0:12:45.040 --> 0:12:47.439
<v Speaker 2>you want, certain functionalities, you want, certain features you want,

0:12:47.600 --> 0:12:51.160
<v Speaker 2>I can give you that in a year, like by

0:12:51.160 --> 0:12:52.439
<v Speaker 2>the end of the year, I can give you most

0:12:52.440 --> 0:12:53.760
<v Speaker 2>of the things that you want, and then we get

0:12:53.760 --> 0:12:55.360
<v Speaker 2>to do the things that I want to do. There's

0:12:55.400 --> 0:12:56.760
<v Speaker 2>some of the things that I talk about, Like we

0:12:57.120 --> 0:12:59.680
<v Speaker 2>just launched branded audio on web and I was like,

0:12:59.760 --> 0:13:01.520
<v Speaker 2>no doing that, And that's what I'm saying, Like, Man,

0:13:01.520 --> 0:13:04.640
<v Speaker 2>if they're not doing this, there's so many other ideas

0:13:04.679 --> 0:13:07.320
<v Speaker 2>that are available that we can do. So I'm like, again,

0:13:07.800 --> 0:13:09.840
<v Speaker 2>they're gonna be in beta phase until they say, Okay,

0:13:09.960 --> 0:13:13.199
<v Speaker 2>now we gotta go invest in it, because obviously he's

0:13:13.200 --> 0:13:14.160
<v Speaker 2>gonna keep going. So.

0:13:15.120 --> 0:13:18.800
<v Speaker 5>An illegal alien from Guatemala charged with raping a child

0:13:18.840 --> 0:13:22.640
<v Speaker 5>in Massachusetts. An MS thirteen gang member from Al Salvador

0:13:22.880 --> 0:13:27.000
<v Speaker 5>accused of murdering a Texas man of Venezuelan charged with

0:13:27.080 --> 0:13:30.960
<v Speaker 5>filming and selling child pornography in Michigan. These are just

0:13:31.080 --> 0:13:34.840
<v Speaker 5>some of the heinous migrant criminals caught because of President

0:13:34.880 --> 0:13:38.400
<v Speaker 5>Donald J. Trump's leadership. I'm Christy Noman, the United States

0:13:38.480 --> 0:13:43.240
<v Speaker 5>Secretary of Homeland Security. Under President Trump, Attempted illegal border

0:13:43.280 --> 0:13:46.840
<v Speaker 5>crossings are at the lowest levels ever recorded, and over

0:13:46.880 --> 0:13:50.120
<v Speaker 5>one hundred thousand illegal aliens have been arrested. If you

0:13:50.200 --> 0:13:54.040
<v Speaker 5>are here illegally, your next you will be fine nearly

0:13:54.120 --> 0:13:58.160
<v Speaker 5>one thousand dollars a day, imprisoned and deported, you will

0:13:58.200 --> 0:14:01.840
<v Speaker 5>never return. But if you reach using our CBP Home

0:14:01.880 --> 0:14:05.240
<v Speaker 5>app and leave now. You could be allowed to return legally.

0:14:05.600 --> 0:14:10.320
<v Speaker 5>Do what's right. Leave now. Under President Trump America's laws,

0:14:10.520 --> 0:14:12.960
<v Speaker 5>border and families will be protected.

0:14:13.080 --> 0:14:15.199
<v Speaker 2>Sponsored by the United States Department of Homeland Security,