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Speaker 3: Why the model as far as getting money to creators
Speaker 3: from day one, why is that so important? And if
Speaker 3: this works, how is it going to change the landscape
Speaker 3: of social media?
Speaker 2: Well, the first thing I think about is disruption. So
Speaker 2: if you're not pissing people off, then you're doing something wrong.
Speaker 2: So the first thing when I got the kind of
Speaker 2: the idea to really to even build the company, I
Speaker 2: knew that this is going to disrupt industries because people
Speaker 2: are always talking right now about TV and film music.
Speaker 2: We're having all these conversations about how these how artists
Speaker 2: aren't getting paid enough for streaming. How athletes aren't getting
Speaker 2: paid like the college players just got nil to be
Speaker 2: able to do those kinds of things we're seeing. You know,
Speaker 2: movie stars get their TV shows canceled, you know Easter Rays,
Speaker 2: rap shits getting getting take off, and now she needs
Speaker 2: to go independent because she can own her content and
Speaker 2: all that kind of stuff. So for me, it's like,
Speaker 2: I don't If I don't create an environment or an
Speaker 2: infrastructure where the community can own and monetize from day one,
Speaker 2: it actually puts no limits because it circumvents all the industries.
Speaker 2: The fact that you can pick up your phone and
Speaker 2: subscribe directly to a person changes business for every single
Speaker 2: person on the planet. Always say this, there's nobody that's
Speaker 2: on fan Base that is not a business. A business
Speaker 2: is a business ability to receive revenue or income for
Speaker 2: a product or service you provide. So for that very reason,
Speaker 2: by default, every single person on fan Base is a business.
Speaker 2: And so I think that the ability for us to
Speaker 2: generate revenue from day one, we don't have to figure
Speaker 2: it out. Their apps out here that have not figured
Speaker 2: it out, that are clubhouses not figured out how to
Speaker 2: generate revenue there's a lot of these startups that are
Speaker 2: in the social media space have not figured out how
Speaker 2: to make revenue but going to direct a consumer and
Speaker 2: allowing the user to decide what they want to pay for.
Speaker 2: And we're seeing that with younger kids anyway. And that's
Speaker 2: another thing too, it's paying like the future is, you
Speaker 2: know I was talking about when you see ky snot
Speaker 2: Kai is twenty twenty one, twenty two years old, he
Speaker 2: has about eighty five thousand subscribers to making four hundred
Speaker 2: thousand dollars a month. I can't see that as a
Speaker 2: human being and not say I could do this as
Speaker 2: an athlete. I could do this as a musician. I
Speaker 2: don't have to be a gamer. It doesn't matter. People
Speaker 2: don't want to see the kind of they want. So
Speaker 2: it's extremely important that you know, we we provide a
Speaker 2: new way for people to monetize directly consuming to circumvent
Speaker 2: all these these pillars that that block and rob artists
Speaker 2: and and athletes and and and in movie stars and everybody,
Speaker 2: you know.
Speaker 4: I mean, it's it's pretty evident, right, that's the way
Speaker 4: we can see cause and I we can see it
Speaker 4: what the athletes creating their own platforms, right, we just
Speaker 4: in Lebron he has a podcast.
Speaker 2: Now, Draymond comes to mind.
Speaker 4: What do you think is gonna take for that drastic
Speaker 4: change for people to say, alright, we're not gonna go
Speaker 4: with the traditional ways of social media. Something like fan
Speaker 4: base makes too much sense for us not to be
Speaker 4: part of.
Speaker 2: I think the first person that and I I'm looking
Speaker 2: at Kai now cause again it's it's so it's so
Speaker 2: interesting to me that he's making more money streaming with
Speaker 2: subscribers than rappers are making recording an album, putting it
Speaker 2: out and going and doing shows. Like it's like, you
Speaker 2: can still do that, but there's still a lifestyle and
Speaker 2: a personality that's involved of every We're all humans, so
Speaker 2: we all have social lives and funny and humor or whatever.
Speaker 2: So to be able to monetize that, I think that
Speaker 2: it'll shift when someone like him. And I've seen this before,
Speaker 2: Like again, there are these moments that happen that just
Speaker 2: have me scratching my head, like I can't believe no
Speaker 2: one is picking up on the fact that Bad Baby
Speaker 2: made forty million dollars in a year, you know for subscribers,
Speaker 2: Cosinot is making four hundred thousand dollars a month up subscribers,
Speaker 2: and everybody's just not dropping a plate of food. Let
Speaker 2: the the plate break and shatter and say, wait, what
Speaker 2: did not just here? Hold on, I'm not finna, I'm
Speaker 2: not finished. I'm not going to do all this extra
Speaker 2: shit when I can just really create and live and
Speaker 2: exist on social media and have fun and then and
Speaker 2: then monetize and and and still you know, have the same,
Speaker 2: you know, the same experience.
Speaker 3: So do you think that this will be beneficial for
Speaker 3: the every average day person, right, because everybody thought it'd
Speaker 3: be costing not. Yeah, So the average person that has
Speaker 3: a thousand followers, Yeah, they're not gonna make a lot
Speaker 3: of money. So why does fan base make sense to them?
Speaker 2: Well? First, okay, so I'm gonna say this because I'm
Speaker 2: gonna talk about the investment portion real quick. When I
Speaker 2: first started to on start Engine, the minimum to invest
Speaker 2: in fan base was two hundred and forty five dollars, right,
Speaker 2: the minimum to invest in fan base now it's three
Speaker 2: hundred and ninety nine dollars. It's the minimum to invest
Speaker 2: start engine dot comflas fan base shout out. But what
Speaker 2: I say is more important than that is that there
Speaker 2: are hundreds, no thousands of users on fan base that
Speaker 2: have made the money using fan base that they invested
Speaker 2: in fan base. So it's not about I'm not telling
Speaker 2: everybody to get on here and think that you're going
Speaker 2: to be a multimillionaire. But I do believe that most
Speaker 2: people have enough money to make monthly the ability to
Speaker 2: pay their rent or you know, to get gas or
Speaker 2: put food in refrigerator. I see people making that amount
Speaker 2: of money. I see a user, you know, making There's
Speaker 2: a user that's made ten thousand dollars this year that
Speaker 2: has less than thirty five hundred followers, an extra ten
Speaker 2: thousand dollars a year like the average american's ally's forty
Speaker 2: thousand dollars. You're making a quarter of what you would
Speaker 2: have to do to get to make the bare minimum
Speaker 2: as a salary in this country. Just making content. And
Speaker 2: it's it's not like you have to sit live and
Speaker 2: stream all day long. You post content. People subscribing, they
Speaker 2: make that money. So if I can make somebody, if
Speaker 2: I can make enough money to put gas in my
Speaker 2: car just by posting content, I'm with it. If I'm
Speaker 2: a young kid, of course I would do that. If
Speaker 2: I can feed feed myself. I don't have to. And
Speaker 2: then that's just that's like one hundred subscribers. Again, if
Speaker 2: you know, you get five thousand people, five thousand people
Speaker 2: are a small number of people when there's six billion
Speaker 2: people on the planet. For five thousand people paying you
Speaker 2: two thousand and fifty cents a month, it's twelve thousand,
Speaker 2: five hundred a month, one hundred and fifty thousand dollars
Speaker 2: a year. That's more than ninety seven percent of Americans make.
Speaker 2: And that's just five thousand people. So it's like, it's
Speaker 2: not you know, if if we took that down, like
Speaker 2: I said, we took that down to five hundred people,
Speaker 2: you're still making fifteen thousand dollars a year. Who wants who? Who?
Speaker 2: Who wants to turn extra fifteen thousand dollars a year
Speaker 2: in America? Like just about making content. It's like it's
Speaker 2: it's a no brainer to me.
Speaker 4: We spoke two years ago from your first interview and
Speaker 4: from all the signs, right, people are making money. Right
Speaker 4: functuates depending on the user, how many people uh followers
Speaker 4: they have, the.
Speaker 2: Company's making money and it's profitable.
Speaker 4: I ask you then, So I ask you now mergers
Speaker 4: and acquisitions is always a part of business.
Speaker 2: Yeah, have the phones been ringing?
Speaker 4: Even more so as you continue to innovate, as you
Speaker 4: continue to what I see you disrupt social media in
Speaker 4: a sense where you can start revolutionizing thing.
Speaker 2: Have the phone calls been coming in just for no,
Speaker 2: I'm gonna tell you why. Yeah, And because fan base
Speaker 2: is a I always say there's two phases to success
Speaker 2: in building businesses. It's to beat him phase and it's
Speaker 2: to join them phase. We're still in beat them mode.
Speaker 2: They're still sitting back, like I'm want to see here
Speaker 2: really gonna raise his seventeen million dollars and really like
Speaker 2: change the game and the way that he does. One
Speaker 2: thing people, one thing that Trump's race is green is money.
Speaker 2: And so I and I think I've had the best,
Speaker 2: like you know example in someone seeing the way that
Speaker 2: Tyler Perry built his business. At first it was our
Speaker 2: beat him. Then it was like, oh well, now we
Speaker 2: got to join him. You know, at some point in
Speaker 2: the beginning there were no deals, but then it was
Speaker 2: TBS and it was a lion's game. There was owned
Speaker 2: and then it became Netflix and Amazon and now it's
Speaker 2: like okay, cool, it's BT's like okay here, so fan
Speaker 2: base is always until we get the we're gonna be
Speaker 2: in the beat him phase because this is this is
Speaker 2: majorly disruptive in the way that I say all the time. Again,
Speaker 2: it's like, I think that this is one of the
Speaker 2: most pivotal moments in technology, social media, and wealth building
Speaker 2: because we've never been here before. Like you cannot name
Speaker 2: a time that there's been a social media company that's
Speaker 2: been founded that allows the public to invest. So now
Speaker 2: anybody without restriction can actually own part of something that
Speaker 2: they use, and then there's no limit into how fast,
Speaker 2: you know, or how big these companies can get. When
Speaker 2: you're looking at Facebook as a market cap of two
Speaker 2: point two trillion dollars, I'm not even thinking about two trillion.
Speaker 2: I mean, granted, like cool, I think Facebook is something
Speaker 2: that's like a one in a lifetime, you know company,
Speaker 2: But there's still companies. Even if you remove Instagram from Facebook,
Speaker 2: it's still a three hundred billion dollar company, you know
Speaker 2: what I'm saying. If you're looking at TikTok separated from bytdance,
Speaker 2: it's still probably one hundred two hundred billion dollar company
Speaker 2: just evaluated one sixty. Yeah, So I'm like, do you understand,
Speaker 2: Like how how okay? So now so think of that.
Speaker 2: So think of now one hundred and sixty billion dollar
Speaker 2: company that's owned by people that look like us. We
Speaker 2: ain't never been there before. I don't even know who
Speaker 2: the richest black person on the planet is. I'm only
Speaker 2: worm like nineteen billion. What's the riches about nineteen billion?
Speaker 2: Legal didn't go to Yeah, yeah, like nineteen billion. So
Speaker 2: I'm just saying like, yo, we ain't never. We ain't never.
Speaker 2: And my point is for us to really build and
Speaker 2: make and transform wealth, not only is it. And my
Speaker 2: goal is not to be worth more than nineteen billion.
Speaker 2: My goal is to create ten or fifteen other people
Speaker 2: that are worth are multi billionaires because technology is the
Speaker 2: fastest way. I heard Robert at Smith say this. He's like,
Speaker 2: technology is the fastest way to do it wealth. In
Speaker 2: this textrum, it's like all the eight of the top
Speaker 2: ten richest people on the planet are in technology Oracle, Microsoft, Amazon, Google, Facebook,
Speaker 2: and Eli with Tesla in acts is like, it's like, yo,
Speaker 2: those are all the people. Only people. Bernard or naw
Speaker 2: is the number one guy and he owned every other
Speaker 2: brand in existence. And you know in the Berkshire Hathaway.
Speaker 2: You know what I'm saying. But it's technology. So we're
Speaker 2: in a we're in an unprecedented amount of a time
Speaker 2: because ownership and equity in these in these tech companies.
Speaker 2: These are companies that can be worth one hundred billion,
Speaker 2: you know, like one hundred billion dollars, one hundred and
Speaker 2: sixty billion dollars. It's totally achievable. But we've never been
Speaker 2: there before. And I think, you know, I think we
Speaker 2: have the the the unique opportunity to begin I was
Speaker 2: telling I was telling people here today. I was like, Yo,
Speaker 2: we get this wrong. You can't. Don't blame me because
Speaker 2: it's literally here for us to take advantage of. And
Speaker 2: that's why, you know, the rays that we're doing was
Speaker 2: so important because it gives it there's no excuses. Once
Speaker 2: I raise seventeen million dollars, I give everybody everything that
Speaker 2: they want. I give every If you want certain songs,
Speaker 2: you want, certain functionalities, you want, certain features you want,
Speaker 2: I can give you that in a year, like by
Speaker 2: the end of the year, I can give you most
Speaker 2: of the things that you want, and then we get
Speaker 2: to do the things that I want to do. There's
Speaker 2: some of the things that I talk about, Like we
Speaker 2: just launched branded audio on web and I was like,
Speaker 2: no doing that, And that's what I'm saying, Like, Man,
Speaker 2: if they're not doing this, there's so many other ideas
Speaker 2: that are available that we can do. So I'm like, again,
Speaker 2: they're gonna be in beta phase until they say, Okay,
Speaker 2: now we gotta go invest in it, because obviously he's
Speaker 2: gonna keep going. So.
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