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Speaker 3: An illegal alien from Guatemala charged with raping a child

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Speaker 3: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 3: accused of murdering a Texas man of Venezuelan charged with

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Speaker 3: filming and selling child pornography in Michigan. These are just

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Speaker 3: some of the heinous migrant criminals caught because of President

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Speaker 3: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 3: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 3: crossings are at the lowest levels ever recorded, and over

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Speaker 3: one hundred thousand illegal aliens have been arrested. If you

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Speaker 3: are here illegally, your next you will be fine nearly

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Speaker 3: one thousand dollars a day, imprisoned and deported, you will

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Speaker 3: never return. But if you register using our CBP home

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Speaker 3: app and leave now, you could be allowed to return legally.

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Speaker 3: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 3: border and families will.

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Speaker 4: Be protected sponsored by the United States Department of Home Security.

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Speaker 5: Isaac Hayes the third. But something, my brother, How you doing?

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Speaker 1: Got you're doing? I'm doing? Next May this little bank pleasure?

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Speaker 1: You got nothing? Thank you man?

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Speaker 5: Thanks guys, Yeah, long time, no see.

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Speaker 6: I know it's funny because like I think I see

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Speaker 6: you guys like every every couple of weeks.

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Speaker 7: Now, I'm sure, sure, sure, we always find new things

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Speaker 7: to talk about he was Yeah, he was just throwing blackout. Yes,

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Speaker 7: I was talked about the creative economy. Yeah, of course

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Speaker 7: you've been on Ernlesia, been on invest Fest stage.

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Speaker 5: Yeah, you've been on market mondays.

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Speaker 1: This is true. What else is there to do?

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Speaker 8: Now you have the red distinction of having two episodes

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Speaker 8: on the Big Show, which is very rare.

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Speaker 1: Red territory feeling about this.

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Speaker 6: I feel honored because I'm catching you guys at the

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Speaker 6: right time, because every time I turn on television, you

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Speaker 6: have y'all all like really big programs like you know,

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Speaker 6: I'm saying, y'all with a lot of a lot of

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Speaker 6: dope people expand their brand, and I love it.

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Speaker 1: Well, you know, first and foremost we're on fan base. Yes,

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Speaker 1: so yeah, you guys are. So that's that's.

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Speaker 7: Something that should be People will probably by now already

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Speaker 7: know that. But if you didn't know, you know, we've

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Speaker 7: been in communication and this is something that we are

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Speaker 7: very vocal about as far as us wanting to support you,

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Speaker 7: as far as giving you a platform that's that's beneficial,

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Speaker 7: but also us being on your.

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Speaker 1: Platform as well.

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Speaker 6: Yeah, I appreciate that, and I mean I think it's

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Speaker 6: probably one of the premier kind of like additions to

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Speaker 6: what we've been building, Can you guys validate us in

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Speaker 6: a different way by you know, your your financial literacy.

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Speaker 6: There's a seriousness and a wealth of information that people

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Speaker 6: really need beyond just dances and you.

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Speaker 1: Know, fun stuff.

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Speaker 6: But you guys are bringing real content to the platform,

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Speaker 6: and I'm looking forward to actually expanding like this relationship

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Speaker 6: beyond what anybody can think of, because I think you

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Speaker 6: know your message is extremely.

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Speaker 1: Valuable, appreciate it in front of it. So if anybody

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Speaker 1: that's under a rock they don't know.

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Speaker 7: Fan Base is a social media platform that allows any

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Speaker 7: regular creator to earn money based off of subscriptions.

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Speaker 6: In a nutshell, right, yeah, I mean I'll say this.

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Speaker 6: I mean, well, first, fan Base is a social networks,

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Speaker 6: free to download, free to use. I say it all

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Speaker 6: the time. So sometimes people get the notion that fambase

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Speaker 6: might cost money. It doesn't cost any money to download

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Speaker 6: and use the platform. I always say, look at it as

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Speaker 6: a freemium model, so that you could have you can

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Speaker 6: use it like you would use Instagram or TikTok or whatever,

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Speaker 6: but then you can also have this added layer of

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Speaker 6: subscribers if you want to and that's the part that

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Speaker 6: I think is most important. I'm going to say this

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Speaker 6: until the world acknowledges me for this, is that I

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Speaker 6: invented peer to peer in a purchase subscription on mobile devices.

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Speaker 6: So that means what fan Base allows you to do

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Speaker 6: is take out your phone and use a fingerprint or

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Speaker 6: a face scan through the App Store the Google Store

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Speaker 6: to subscribe to a person before people will pull out

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Speaker 6: credit cards if you're using all these other apps to

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Speaker 6: have subscribers using a credit card. But once I did

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Speaker 6: that and we launched that at twenty nineteen, about two

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Speaker 6: years later, all the other platforms started doing it, including

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Speaker 6: Apple chains and model, Google chains and models to accommodate

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Speaker 6: the vision that people are going to be subscribing to

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Speaker 6: people more than Netflix. Okay, so let's take it back

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Speaker 6: a little bit. You recently raised seventeen million dollars is

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Speaker 6: a number that I'm hearing right. We're raising said we

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Speaker 6: raised ten You raised ten million dollars, were already raised

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Speaker 6: ten million dollars in three years, and so that extreme

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Speaker 6: that was extremely important because it gave us the capital

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Speaker 6: kind of really to start and be acknowledged as a

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Speaker 6: platform that people can can can really use and give

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Speaker 6: us the ability to build what we wanted to build.

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Speaker 6: Like we didn't have to we didn't have to really

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Speaker 6: think about you know, like I was, I was funding

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Speaker 6: this myself. Let's say that I spent like two hundred

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Speaker 6: thousand on my own money. And at some point we

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Speaker 6: were like, yo, we got to get this thing to

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Speaker 6: the next level. And so COVID had happened and we

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Speaker 6: were in equity crowdfunding. Equit crowdfunding came along and gave

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Speaker 6: me the opportunity to do that. So all right, so

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Speaker 6: you raised ten million, you're trying to raise another seven million.

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Speaker 1: I'm not trying I'm raising seven want to raise billion dollars?

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Speaker 7: Okay, have you ever why haven't you going to venture

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Speaker 7: capital route or angel or like just what made the

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Speaker 7: crowdfunding situation appealing as opposed to trying to target vcs

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Speaker 7: trying to target angels.

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Speaker 6: Maybe you did, I'm not sure, but I think there's

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Speaker 6: two I think there's two major things that affected that decision.

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Speaker 6: First and foremost was racial bias, like the ability for

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Speaker 6: black startups to get funded, right, that was one of

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Speaker 6: the first things.

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Speaker 1: And then secondly, we were in COVID.

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Speaker 5: Talk about racial bias though, because they might not fully understand.

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Speaker 6: So in twenty twenty three, black startups received I think

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Speaker 6: zero point sixty nine percent of funding, right, and that

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Speaker 6: was like so so so low. It was down from

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Speaker 6: like one point five percent all capital. So out of

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Speaker 6: all the capital that VC's investing, they invested almost a

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Speaker 6: little over half of a percent into black founders in

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Speaker 6: all areas. So when you think about that, that's like

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Speaker 6: ninety nine point five percent going to other people that

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Speaker 6: are not black. So the likelihood that you're going to

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Speaker 6: get funded from a VC is so like it's not happening, really,

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Speaker 6: you know what I mean, It's it's very very rare

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Speaker 6: that those things happen. I even had a conversation with

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Speaker 6: a with a good friend of my Chamellionaire, about three

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Speaker 6: or four days ago, and we were talking about the

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Speaker 6: equity crowdfunding around and how the timing is right now

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Speaker 6: because because venture capital actually getting tighter with the purse strings.

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Speaker 6: But something that frustrated him that he related to me

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Speaker 6: is like, you're right about this this you know about

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Speaker 6: this capital. He's like, I've seen he goes I went to,

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Speaker 6: like I can remember what school he went to, and

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Speaker 6: he's like I saw a dude get up on stage

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Speaker 6: of present and say he needed twenty million dollars for

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Speaker 6: a startup, a white kid, and they gave him forty five.

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Speaker 6: Like that imagine is gone into a I'm saying I

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Speaker 6: need forty five million dollars to build my company and

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Speaker 6: somebody just cutting you a check saying here, go do it.

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Speaker 1: Like they're not doing that for us, Like we're not

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Speaker 1: getting those looks. That doesn't exist in our world.

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Speaker 8: So I mean when people are raised, right, you raise

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Speaker 8: the ten, you're gonna raise the seven, they're seventeen.

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Speaker 1: A lot of people will look at well, why do

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Speaker 1: we mean to seventeen?

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Speaker 8: Right?

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Speaker 1: They don't understand the capital or pop capital intensive.

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Speaker 8: This could be they know scaling, So what is the

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Speaker 8: determined factor when you say this is the number we

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Speaker 8: need to get to.

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Speaker 1: Right, you could have said, let's raise twenty seven. Right,

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Speaker 1: was the realistic thing?

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Speaker 8: Or was from a scalability to the point, this is

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Speaker 8: where we want to be at this point in our.

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Speaker 6: Coupoy So we came up with a three year plan.

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Speaker 6: So up until this point we funded fan base and

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Speaker 6: being able to build a company at a steady pace.

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Speaker 6: But right now we have to wear in scale mode

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Speaker 6: as opposed to startup mode. We're no longer a startup

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Speaker 6: in my opinion. We're trying to scale the company. So

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Speaker 6: to do that, we actually have to build functionality and

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Speaker 6: build faster to keep up with the demands of what

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Speaker 6: users want, especially if we want to capitalize on exactly

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Speaker 6: what's going on with creators and monetization. So, first and foremost,

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Speaker 6: seventeen million was a number because we're valued at one

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Speaker 6: hundred and sixty million dollars. Now, so I first lost

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Speaker 6: the company, we're about at twenty million. Then I did

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Speaker 6: a raise of fifty then I did a raise eighty

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Speaker 6: five million, and now this raise right now is valued

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Speaker 6: at one hundred and sixty million dollars, and so roughly

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Speaker 6: about ten percent of the company is up for investment

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Speaker 6: to the general public on starting Engine dot com slash

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Speaker 6: fan base if you can see this. So so for

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Speaker 6: that reason, we wanted to be able to what I say,

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Speaker 6: accommodate what users want a scale. So there's a lot

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Speaker 6: of things that go into building a startup like this.

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Speaker 6: Stuff is expensive and you guys know, more than anything,

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Speaker 6: and tech is extremely expensive, and so so to scale

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Speaker 6: the company. First thing you want to do is focus

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Speaker 6: on scaling our functionality.

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Speaker 1: Our productivity.

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Speaker 6: So right now, let's say I have a team of

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Speaker 6: twenty five developers, right we're going to be able to

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Speaker 6: We're going to be able to triple that. So now

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Speaker 6: we'll have seventy five developers. Will double that or triple that.

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Speaker 6: We have seventy five developers that can actually help, you know,

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Speaker 6: build this. And so when I tell people that come

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Speaker 6: to fan Base and say, oh, well, fan Base doesn't

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Speaker 6: have X, y Z or we want this, I'll tell

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Speaker 6: you if you want if you want darkload investing fan Base,

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Speaker 6: if you want care of sales investing fan Base, if

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Speaker 6: you want the same functionality that TikTok ads all these

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Speaker 6: platforms have.

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Speaker 1: This raise will give us the ability.

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Speaker 6: To catch those platforms without a doubt. Like with the development,

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Speaker 6: I will be able to catch them. But then there's

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Speaker 6: another thing that we want to do is go beyond

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Speaker 6: the innovation that we see that other platforms are doing

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Speaker 6: that they're just not capitalizing on and so they're missing

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Speaker 6: that mark.

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Speaker 8: Is there a point in the development process, Because technology

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Speaker 8: does move so fast as you're developing, you have to

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Speaker 8: be almost precise with what you want to do, because

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Speaker 8: if another platform does it, now it's like you're behind

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Speaker 8: the wheel. Now you're the second person that or the

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Speaker 8: third or the fourth uh fan base, I mean the fourth.

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Speaker 1: Platform that has something.

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Speaker 8: Now it feels like it's old and I have to

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Speaker 8: figure out how to innovate again.

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Speaker 1: Is that a like how frustrating does that get?

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Speaker 6: That's not really frustrating because honestly, a lot of these platforms,

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Speaker 6: what I've noticed is that they don't innovate the advantage

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Speaker 6: that I think, which is which is so important about

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Speaker 6: what we're building because as a black founded company that's

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Speaker 6: not black only, which is extremely important that I have

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Speaker 6: to say, because the media will try to say, oh,

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Speaker 6: because it's built by somebody black, pie's exclusively for black people,

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Speaker 6: and sometimes you get pigeonholed of that.

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Speaker 1: But what I noticed.

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Speaker 6: Is that, oh, when I started getting into this space

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Speaker 6: and seeing that my idea is what we had and

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Speaker 6: a lot of the things that we filed like seven

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Speaker 6: eight patents.

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Speaker 1: For some of the functionality that we've done.

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Speaker 6: So when I saw that, I was like, Oh, it

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Speaker 6: isn't the these guys are smarter any smarter than us.

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Speaker 6: They just got the money but what they do is

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Speaker 6: they put a product out there and say, here, guys,

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Speaker 6: play with it, make this cool stuff cool or you

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Speaker 6: want dms, oh they want, give them that. Oh okay,

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Speaker 6: they want retweets, Give them that. So it's just money.

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Speaker 6: It's not about innovation. We're the ones that come up

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Speaker 6: kids black culture. We're the ones that come up with

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Speaker 6: all these things that people talk about all the time

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Speaker 6: that get put into social media products. We're the ones

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Speaker 6: that bring those into these spaces, but we don't own them.

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Speaker 6: So that's the reason why I was like, Okay, if

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Speaker 6: it's just money, then let's go get the money. And

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Speaker 6: then now we have a company that rivals the tiktoks

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Speaker 6: and Instagrams of the world, at least by functionality. Now

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Speaker 6: execution is one thing, but I don't doubt our ability

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Speaker 6: to do that, but at least we've leveled the playing

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Speaker 6: field from people can make a decisions.

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Speaker 7: So seventeen million, what does that do to the landscape

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Speaker 7: of like black startup tech companies? Like is this something

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Speaker 7: that can be used as a landmark? Is how will

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Speaker 7: this change the dynamic for black entrepreneurs that are intact

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Speaker 7: that's trying to raise capitals?

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Speaker 6: So from a social media standpoint, it'll be pretty impressive

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Speaker 6: because in tech there are a lot of startups that

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Speaker 6: are founded by black.

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Speaker 1: People that often receive funding and they raise lots of money.

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Speaker 6: But two of the most important things that I see

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Speaker 6: are the control of the company and the equity of

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Speaker 6: the company. So I can name I'm not gonna name name,

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Speaker 6: but I can name companies where companies start ups to

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Speaker 6: raise one hundred million dollars, but ninety nine percent of

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Speaker 6: the company is owned by institutional investors and then they force.

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Speaker 1: The founder out and great.

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Speaker 6: You get to walk away and say, Okay, I made

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Speaker 6: twenty thirty million in tech, I'm a tech founder, but

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Speaker 6: you didn't make a dent. My idea with equity, crowdfunding

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Speaker 6: and the way that I decided to do fanmas is

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Speaker 6: I wanted something that I could be intentional about and

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Speaker 6: build and create generational wealth by allowing people to invest,

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Speaker 6: but also people be able to monetize their content. So

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Speaker 6: from the social media standpoint, this is we never been

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Speaker 6: here before. And I talk about this like I was

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Speaker 6: just saying today. If we don't get this right and

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Speaker 6: by means of families, I don't know, we can never

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Speaker 6: have a conversation that we didn't have the opportunity to

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Speaker 6: really take control of an infrastructure and social media.

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Speaker 1: And do that because we have it.

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Speaker 6: I looked, I've been researching the companies right now in existence.

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Speaker 6: I can only find nine black founded social media apps

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Speaker 6: in existence, and at them all nine, there's only one

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Speaker 6: that is not directly geared towards the black community.

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Speaker 1: That's fan base.

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Speaker 6: I'm building this as if I'm building something for the

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Speaker 6: entire planning as opposed to that and then on the

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Speaker 6: on the you know, the equity crowd fromding side. This

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Speaker 6: is unprecedented because I'm the first black men to race

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Speaker 6: ten million in the REGCF space, which is a level

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Speaker 6: where we were at before where I raised the ten

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Speaker 6: and it's seventeen. It's something called a reggae plus round,

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Speaker 6: and so that's a whole different level of investment, a

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Speaker 6: whole different level of compliance and stuff that we had.

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Speaker 1: To do with the Secso I'm proud to do this.

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Speaker 1: So this is this is unprecedented.

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Speaker 6: It should, it should really shape the mold and really

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Speaker 6: and really change the way that people think about how

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Speaker 6: they scale and build their companies because I see often

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Speaker 6: at times people don't have the money to really retain

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Speaker 6: ownership of their company. So I'm trying to retain as

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Speaker 6: much ownership of this. So then down the lot, if

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Speaker 6: we do need to raise let's say three or four

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Speaker 6: dred millionum, Right, there's the equity to be able to

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Speaker 6: do that, but also give people the opportunity to invest.

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Speaker 6: So this is this is a you know, a watership model.

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Speaker 8: I say, Yeah, one of the things you talked about

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Speaker 8: was the SEC approval process, and that was really unprecedented.

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Speaker 8: We had a conversation and then like two weeks later

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Speaker 8: was like, I can't believe it.

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Speaker 1: It happens so fast.

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Speaker 8: Yeah, talk about that because a lot of people number one,

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Speaker 8: probably don't even know what the SEC does and how

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Speaker 8: I guess your work ethic and how the company has

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Speaker 8: been raised prior to that point, how it helped in

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Speaker 8: that prooval process.

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Speaker 6: So well, the first thing I'll say is a lot

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Speaker 6: of people that want to raise capital is the way

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Speaker 6: you construct your business.

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Speaker 1: Because me doing this, people have.

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Speaker 6: Asked me like, okay, cool, just can you look me

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Speaker 6: up with start engine so I can go raise money?

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Speaker 1: Like it's just that easy. I'm like, it don't work

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Speaker 1: like that.

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Speaker 6: Before I even made it, to start Engine, I had

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Speaker 6: to you know, form my company, I you know, incorporated

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Speaker 6: in Delaware to c Corp. And creating stock and all

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Speaker 6: these things that existed, you know what I'm saying. Then

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Speaker 6: I had to make sure that our accounting was together,

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Speaker 6: and I prepared all this. I filed trademarks for fan

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Speaker 6: Base just before any code was ever written, before I've.

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Speaker 1: Even met my CTO.

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Speaker 6: I just wanted to prepare the actual business infrastructure of

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Speaker 6: the company because now I'm coming from a place of

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Speaker 6: the music business. I'm coming from a place of learning

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Speaker 6: from the mistakes that my father made. Like, okay, ownership,

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Speaker 6: you got to make sure that that's locked in the beginning.

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Speaker 6: So then now we get to the point where we

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Speaker 6: build the company. We raised his capital and get and

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Speaker 6: get approved by starting Engine to raise and a rex

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Speaker 6: CF and only two percent of people, every color, every

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Speaker 6: race get approved for equity crowd bundy, so it's rare

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Speaker 6: to even be included in that.

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Speaker 1: So let alone then be successful with that process.

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Speaker 6: So I credit my COO, CTO and our CFO for

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Speaker 6: keeping us really you know, dialed in on.

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Speaker 1: How we raise our capital. Because when you try to

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Speaker 1: go for.

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Speaker 6: A rex CF round, it's a lot less leaning. Y'all

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Speaker 6: you have to do is a financial review, you know

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Speaker 6: what I'm saying with the SEC to comply. It's not

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Speaker 6: really you know, that complicated. When you're going to reggae,

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Speaker 6: which the difference between REGCF and reggae is, and a

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Speaker 6: reggae and a RECCF and crowdfunding, you can only raise

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Speaker 6: up to five million in the calendar year, right and

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Speaker 6: the most that someone can invest in that route is

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Speaker 6: one hundred thousand dollars at one time. When you go

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Speaker 6: to a reggae, you can raise up to seventy five

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Speaker 6: million in the calendar year, and there is no limit

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Speaker 6: on what someone can invest institutional like a credited investment

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Speaker 6: or not a credited So somebody wants to come along

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Speaker 6: and write a check for ten million and the fan base,

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Speaker 6: they can come and write a check ten million to

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Speaker 6: take you know, two thirds of a round if they

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Speaker 6: wanted to do so. But it's almost like you're going public.

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Speaker 6: It's almost like you're filing to go public. The level

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Speaker 6: of complianceship to you know, go through it's like a

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Speaker 6: three month process. So we did that process with the

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Speaker 6: SEC and an amazing company called crowd Check and our

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Speaker 6: partners at Start.

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Speaker 1: Engine, and they were warning us. They were like, hey, look,

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Speaker 1: you know this whole process with the SEC, it takes

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Speaker 1: like six months because every time you submit, they always

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Speaker 1: got some questions. They always want you to do something.

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Speaker 1: And we filed to be able to you know, launch around,

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Speaker 1: and the SEC responded with no objection, which is like,

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Speaker 1: you know, a non review.

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Speaker 6: I'm sorry, non review. And they were like they were surprised.

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Speaker 6: They're like, scd ain't in a question like y'all can

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Speaker 6: go ahead and launch around and that's just unheard of,

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Speaker 6: and that just speaks to how we've heldled our business.

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Speaker 1: Like I'm very you know, I.

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Speaker 6: Hate to say that I have this anxiety as a

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Speaker 6: black person entering into a space that is not often

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Speaker 6: accepted by black people. But even one of the things

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Speaker 6: that I do at fan Base is I don't even

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Speaker 6: take a salary, Like I've not paid myself a dime

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Speaker 6: to run fan Base since I lount the company, because

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Speaker 6: it's like, who cares about paying myself one hundred thousand,

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Speaker 6: two hundred thousand dollars if that could go towards development.

400
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Speaker 6: So I wanted to make sure that everything is available,

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Speaker 6: like even when you go and think, then file for this.

402
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Speaker 6: All of your company filings have to be public, so

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Speaker 6: you can go on startings dot com and look and

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Speaker 6: then go.

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Speaker 1: To the SEC and see all our filings.

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Speaker 6: So all our financials, everything has to be open to

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Speaker 6: the public because you have to give them so much visiblity.

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Speaker 1: Is so much transparency for around like this.

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Speaker 5: So how do you figure about your valuation?

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Speaker 7: Because you have said something about I think you your

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Speaker 7: company for one hundred and fifty millions, I'm.

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Speaker 1: That under sixty how does that determine?

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Speaker 6: So initially before, when you when equity crowdfunding first started,

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Speaker 6: you could just name evaluation right, and they were like

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Speaker 6: And then ironically when I get there, they were like, oh,

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Speaker 6: we have some rules now now you have to actually

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Speaker 6: find companies that are comparable to your product in the marketplace.

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Speaker 6: And then you can say, okay, since this company raised

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Speaker 6: this capital at this valuation, you may do the same.

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Speaker 6: And so the first thing that I saw is we

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Speaker 6: didn't have we never we didn't have audio rooms in

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Speaker 6: fan base. For what I first saw was that with

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Speaker 6: twenty five hundred users, Clubhouse was allowed to raise ten

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Speaker 6: million dollars, had one hundred million dollar evaluation off the rip,

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Speaker 6: so I'm like, okay, well all I need to do

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Speaker 6: is all At this time, I was raised a one

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Speaker 6: million at a twenty million dollar evaluation, so we were

428
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Speaker 6: well below what was needed. And at that time, fan

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Speaker 6: Base had over ten fifteen thousand users, like so we

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Speaker 6: were straight independent. So without any institutional capital or any

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00:20:02,920 --> 00:20:05,800
Speaker 6: crowdfunding capital, we had ten thousand users. We were already

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Speaker 6: generating revenue. No, these apps haven't started a lot of

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Speaker 6: these apps haven't started to do that yet. So when

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Speaker 6: you think about certain startups that out here, you also

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Speaker 6: got to think about your you're a startup, then you're

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Speaker 6: generating revenue, and then you're profitable.

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Speaker 1: So there's those are three big differences.

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Speaker 6: And so the fact that we were generating revenue, we

439
00:20:23,440 --> 00:20:27,639
Speaker 6: had already had a certain number of users, and we

440
00:20:27,640 --> 00:20:29,399
Speaker 6: were able to compare to other other products and the

441
00:20:29,440 --> 00:20:32,520
Speaker 6: microplanes like Patriotic use Patreon as an example. I used

442
00:20:32,520 --> 00:20:37,840
Speaker 6: this other, this other app called fan House, which ironically

443
00:20:38,240 --> 00:20:40,200
Speaker 6: FanHouse got venture capital backed.

444
00:20:40,640 --> 00:20:44,040
Speaker 1: They raised thirty five million, forty million.

445
00:20:43,840 --> 00:20:48,040
Speaker 6: Dollars in a Series A seed round, and they were

446
00:20:48,040 --> 00:20:50,960
Speaker 6: out of business in eighteen months. But they don't look

447
00:20:51,000 --> 00:20:53,639
Speaker 6: like me I'm just I'm just I'm saying this for

448
00:20:53,680 --> 00:20:56,280
Speaker 6: a reason that you know, we have to go above

449
00:20:56,320 --> 00:20:56,720
Speaker 6: and beyond.

450
00:20:56,720 --> 00:20:58,360
Speaker 1: But they spent that money in.

451
00:20:58,359 --> 00:21:00,520
Speaker 6: Eighteen months and had to and they were acquired by

452
00:21:00,520 --> 00:21:02,840
Speaker 6: another company, and that company just went and raised forty

453
00:21:02,880 --> 00:21:05,560
Speaker 6: million dollars and I'm like, it's cool though I know

454
00:21:05,600 --> 00:21:07,520
Speaker 6: they you know, I already know what I'm up against,

455
00:21:07,520 --> 00:21:08,880
Speaker 6: but I'm cool with that.

456
00:21:10,320 --> 00:21:14,320
Speaker 1: So as you calculate the amount of users, there's.

457
00:21:14,119 --> 00:21:15,880
Speaker 8: A threshold that you had to because I always say,

458
00:21:15,880 --> 00:21:18,600
Speaker 8: you talk about billion dollar company, this is a billion

459
00:21:18,600 --> 00:21:19,199
Speaker 8: dollar company.

460
00:21:19,680 --> 00:21:21,679
Speaker 1: What's the threashold as far as users?

461
00:21:21,680 --> 00:21:24,400
Speaker 8: Because what you said is important, being probable and having

462
00:21:24,440 --> 00:21:26,760
Speaker 8: revenues important old company.

463
00:21:26,200 --> 00:21:28,639
Speaker 1: We're just all Reddit go public? Right, they lived been

464
00:21:28,680 --> 00:21:29,840
Speaker 1: probable in nineteen years?

465
00:21:29,960 --> 00:21:32,360
Speaker 8: Yeah, right, which is when you're thinking about it, like, wait,

466
00:21:32,440 --> 00:21:33,840
Speaker 8: nineteen year, how they But.

467
00:21:33,800 --> 00:21:34,639
Speaker 1: You have all those things.

468
00:21:34,800 --> 00:21:38,520
Speaker 8: So what's the threshold of users revenue that you have

469
00:21:38,560 --> 00:21:40,159
Speaker 8: to see to say, all right, this is when we

470
00:21:40,320 --> 00:21:40,840
Speaker 8: reached out.

471
00:21:40,680 --> 00:21:41,840
Speaker 1: A billion dollar evaluation?

472
00:21:42,400 --> 00:21:46,600
Speaker 6: So typically in social media, your valuation is based on

473
00:21:47,440 --> 00:21:50,720
Speaker 6: total users in the m a year because what would

474
00:21:50,720 --> 00:21:53,240
Speaker 6: happened before is like let's say a company like Instagram,

475
00:21:53,480 --> 00:21:56,080
Speaker 6: that you would scale your company because of these companies

476
00:21:56,080 --> 00:21:57,200
Speaker 6: are based on advertising.

477
00:21:57,480 --> 00:21:59,399
Speaker 1: They would scale it up to enough users where they

478
00:21:59,480 --> 00:22:01,879
Speaker 1: knew that they could go ahead and then turn on advertising,

479
00:22:02,280 --> 00:22:03,920
Speaker 1: and then they could try to begin to make the

480
00:22:03,960 --> 00:22:06,040
Speaker 1: company profitable. So that's the old model.

481
00:22:06,040 --> 00:22:09,280
Speaker 6: The old model was build an app, get a bunch

482
00:22:09,320 --> 00:22:11,399
Speaker 6: of people on it, and then flip the advertising switch,

483
00:22:11,840 --> 00:22:13,040
Speaker 6: and then start to make money.

484
00:22:13,520 --> 00:22:14,480
Speaker 1: I didn't want to enter.

485
00:22:14,400 --> 00:22:16,840
Speaker 6: The space that way because I always felt like advertising

486
00:22:17,560 --> 00:22:20,240
Speaker 6: what I was seeing experiencing in social media is that

487
00:22:20,359 --> 00:22:23,480
Speaker 6: advertising was actually limiting the way that people could be

488
00:22:23,560 --> 00:22:24,960
Speaker 6: visible on social and people.

489
00:22:24,760 --> 00:22:28,440
Speaker 1: Care more about being seen than actually making money.

490
00:22:28,600 --> 00:22:31,880
Speaker 6: So the fact that advertising the limits that I didn't

491
00:22:31,920 --> 00:22:33,719
Speaker 6: want to put the limitation of being a company that

492
00:22:33,800 --> 00:22:37,480
Speaker 6: ran ads. So it changes the way that we're able

493
00:22:37,520 --> 00:22:40,560
Speaker 6: to value our company. But we still have users. So

494
00:22:40,720 --> 00:22:43,679
Speaker 6: right now fan base has a little over almost a

495
00:22:43,680 --> 00:22:46,639
Speaker 6: little under, about five hundred and ninety five thousand users

496
00:22:47,080 --> 00:22:52,520
Speaker 6: right with no serious like major marketing push. Again, I

497
00:22:52,560 --> 00:22:56,960
Speaker 6: talked about all these things that sound like I'm saying

498
00:22:57,000 --> 00:22:59,760
Speaker 6: them very calmly, but these are all things that just

499
00:23:00,320 --> 00:23:03,760
Speaker 6: having typically existed. Ever so as we continue to scale,

500
00:23:03,800 --> 00:23:06,359
Speaker 6: like my goal even with this seventeen million dollar round,

501
00:23:06,920 --> 00:23:09,160
Speaker 6: is to to scale the coming to a million users

502
00:23:09,160 --> 00:23:13,360
Speaker 6: by the end of this year. And you know, having

503
00:23:13,800 --> 00:23:16,320
Speaker 6: you know users like you guys on your creating content

504
00:23:16,359 --> 00:23:17,919
Speaker 6: like you guys and other people that are joining the

505
00:23:17,920 --> 00:23:19,919
Speaker 6: platform are going to help.

506
00:23:19,800 --> 00:23:23,879
Speaker 1: Us get there. So that's always also going to increase evaluation. Again, tomorrow,

507
00:23:23,920 --> 00:23:27,080
Speaker 1: if Cardi b come on fan Base tomorrow should bring

508
00:23:27,320 --> 00:23:29,960
Speaker 1: a million people. Fan Base is a million dollar company.

509
00:23:30,040 --> 00:23:32,639
Speaker 6: It's like it works like that, Like that's really what

510
00:23:32,800 --> 00:23:36,400
Speaker 6: users increase the value of a social media platform. Which

511
00:23:36,440 --> 00:23:39,320
Speaker 6: is scary because I always talk about like, well, so

512
00:23:39,400 --> 00:23:41,639
Speaker 6: you're telling me that I say all the times you

513
00:23:41,680 --> 00:23:44,040
Speaker 6: tell me I can invest money in fan Base, then

514
00:23:44,240 --> 00:23:46,719
Speaker 6: use it and then increase the value of the asset

515
00:23:46,760 --> 00:23:49,600
Speaker 6: that I own by simply coming to use it. That's

516
00:23:49,640 --> 00:23:55,000
Speaker 6: like you're literally it should almost be unfair because if

517
00:23:55,000 --> 00:23:57,080
Speaker 6: I was, and I say this before, I don't understand

518
00:23:57,080 --> 00:23:58,639
Speaker 6: why people don't understand this. It's like if you're an

519
00:23:58,720 --> 00:24:01,560
Speaker 6: artist or a musician, or an athlete or an entertainer

520
00:24:01,640 --> 00:24:04,159
Speaker 6: that knows that you can drive people to where you

521
00:24:04,240 --> 00:24:06,320
Speaker 6: want to want to be, but you never got a

522
00:24:06,400 --> 00:24:08,640
Speaker 6: chance to invest in Instagram or TikTok, but you see

523
00:24:08,640 --> 00:24:11,680
Speaker 6: how much how powerful those companies are. Then fan base

524
00:24:11,840 --> 00:24:14,120
Speaker 6: is the opportunity for you, no matter what color you are,

525
00:24:14,640 --> 00:24:17,240
Speaker 6: no matter you know, no matter like your age or whatever.

526
00:24:17,280 --> 00:24:19,960
Speaker 6: It's an opportunity for you. It's actually an equity and

527
00:24:20,080 --> 00:24:22,199
Speaker 6: actually a social media platform. So that's what's really going

528
00:24:22,280 --> 00:24:24,720
Speaker 6: to increase, Like I said, increase our evaluations just.

529
00:24:24,640 --> 00:24:25,840
Speaker 1: How fast we skill uses.

530
00:24:26,080 --> 00:24:27,879
Speaker 6: And it's also the velocity in which it's done. So

531
00:24:27,920 --> 00:24:29,840
Speaker 6: if it takes me five years to get to a

532
00:24:29,840 --> 00:24:32,800
Speaker 6: million users, that ain't good. If it takes me five months,

533
00:24:33,200 --> 00:24:35,600
Speaker 6: that changes everything. It's also the velocity in what you raised.

534
00:24:35,640 --> 00:24:37,160
Speaker 6: You know, you raise your your yarb.

535
00:24:37,359 --> 00:24:41,399
Speaker 1: You said something about marketing and advertising in a media space.

536
00:24:41,440 --> 00:24:44,639
Speaker 8: We brought this up about some of the difficulties that

537
00:24:44,720 --> 00:24:48,400
Speaker 8: transpire when trying to find at partners or even having

538
00:24:48,880 --> 00:24:53,200
Speaker 8: sponsorships or advertising in our media space, but the social

539
00:24:53,240 --> 00:24:56,240
Speaker 8: media space, especially fan base. What's that process like for

540
00:24:56,280 --> 00:24:58,320
Speaker 8: you as far as getting people to come on the

541
00:24:58,359 --> 00:25:01,280
Speaker 8: app to have advertising. So what we have to we

542
00:25:01,359 --> 00:25:04,320
Speaker 8: have to be careful about how we do that process

543
00:25:04,359 --> 00:25:07,320
Speaker 8: because advertising is something that I don't necessarily want to

544
00:25:07,320 --> 00:25:10,280
Speaker 8: add to the platform because we're already in a position

545
00:25:10,320 --> 00:25:14,440
Speaker 8: that we're generating revenue. The part about advertising is is

546
00:25:14,720 --> 00:25:16,719
Speaker 8: we got to find ways for it to be unique.

547
00:25:16,880 --> 00:25:18,600
Speaker 8: We have to find ways for it to be kind

548
00:25:18,600 --> 00:25:21,399
Speaker 8: of cool that don't interrupt the user experience, right, and

549
00:25:21,480 --> 00:25:24,800
Speaker 8: so and then advertising again, it's like it's it's tough

550
00:25:24,840 --> 00:25:26,840
Speaker 8: because I.

551
00:25:26,880 --> 00:25:29,639
Speaker 1: Was watching the Eli interview the other day and.

552
00:25:29,640 --> 00:25:33,359
Speaker 6: I could tell like he he was blaming the fact

553
00:25:33,359 --> 00:25:38,080
Speaker 6: that advertisers also, you know, are leader, we're leaving X.

554
00:25:38,680 --> 00:25:41,439
Speaker 1: But it's also like the environment in what you curate

555
00:25:42,160 --> 00:25:44,840
Speaker 1: for users the experience is also advertisers don't want to

556
00:25:44,880 --> 00:25:47,240
Speaker 1: be on a platform, or there's a bunch of hate speech,

557
00:25:47,640 --> 00:25:51,080
Speaker 1: you know what I'm saying, racism, pornography, and that's kind

558
00:25:51,080 --> 00:25:52,679
Speaker 1: of like what X is at this point. So it's

559
00:25:52,720 --> 00:25:54,320
Speaker 1: kind of hard. And he says, oh, well, you can

560
00:25:54,400 --> 00:25:56,119
Speaker 1: just you know, you can decide where you want your

561
00:25:56,119 --> 00:25:58,760
Speaker 1: ass to run. Which is two it's two sides of

562
00:25:58,960 --> 00:26:00,959
Speaker 1: of of of a problem.

563
00:26:01,240 --> 00:26:07,600
Speaker 6: One, he's admitting that corporations like Facebook can control the visibility.

564
00:26:07,040 --> 00:26:08,080
Speaker 1: That you have in your content.

565
00:26:08,480 --> 00:26:11,320
Speaker 6: The advertiser comes on there says, I don't want any

566
00:26:11,440 --> 00:26:14,359
Speaker 6: LGBTQ content showing next to my content. Then they can

567
00:26:14,400 --> 00:26:16,640
Speaker 6: turn the LGBTQ down, or they can turn the black

568
00:26:16,680 --> 00:26:18,760
Speaker 6: down to run their ads, they can make their money,

569
00:26:18,760 --> 00:26:20,080
Speaker 6: they can turn it back up. So if you ever

570
00:26:20,119 --> 00:26:23,159
Speaker 6: see a dip and you're engaging on social media, like well,

571
00:26:23,200 --> 00:26:24,159
Speaker 6: you'll see this in November.

572
00:26:24,200 --> 00:26:27,320
Speaker 1: Anybody that talks about politics, you're engaged gonna.

573
00:26:27,119 --> 00:26:29,280
Speaker 6: Be a flat lined around November because they're gonna make

574
00:26:29,320 --> 00:26:31,560
Speaker 6: sure that you have no effect on being able to

575
00:26:31,560 --> 00:26:33,680
Speaker 6: influence an election anymore. They say, okay, you're not gonna

576
00:26:33,680 --> 00:26:35,920
Speaker 6: you can post something like zero views is gonna go down,

577
00:26:36,400 --> 00:26:39,520
Speaker 6: And I see this problem with the creators all the time.

578
00:26:39,520 --> 00:26:42,000
Speaker 1: And so then, but he's also admitting that.

579
00:26:42,760 --> 00:26:45,520
Speaker 6: You get you can pick and choose where your content goes,

580
00:26:45,560 --> 00:26:48,080
Speaker 6: but you can't necessarily control what the user is going

581
00:26:48,160 --> 00:26:50,080
Speaker 6: to say. So you can still say I can want

582
00:26:50,119 --> 00:26:51,960
Speaker 6: my ads, I want my ass to show next to

583
00:26:52,600 --> 00:26:55,440
Speaker 6: a particular genre, like I want my ass to show

584
00:26:55,720 --> 00:26:57,679
Speaker 6: next to people that like sports, which it doesn't mean

585
00:26:57,720 --> 00:26:59,280
Speaker 6: that somebody's not gonna get on there and say something

586
00:26:59,359 --> 00:27:02,320
Speaker 6: racist or post something foul or whatever or misleading. So

587
00:27:03,400 --> 00:27:05,680
Speaker 6: advertising is tricky. That's why I don't like it, because

588
00:27:05,720 --> 00:27:08,479
Speaker 6: also they control your company. The two things that control

589
00:27:08,520 --> 00:27:11,560
Speaker 6: your company is either when it's public the general public,

590
00:27:11,680 --> 00:27:14,680
Speaker 6: or your stockholders and your advertisers. If I build a

591
00:27:14,720 --> 00:27:19,040
Speaker 6: company independent of public stock and advertisers, and I can

592
00:27:19,080 --> 00:27:22,600
Speaker 6: still generate revenue, then I'm always to control the way

593
00:27:22,600 --> 00:27:24,960
Speaker 6: that I want my company to be. I can fan base,

594
00:27:25,000 --> 00:27:29,720
Speaker 6: can be as ethnically centered as possible without any fail

595
00:27:29,760 --> 00:27:31,600
Speaker 6: you know what I mean. We can do the things

596
00:27:31,200 --> 00:27:33,679
Speaker 6: if there's things that we want to bring attention to,

597
00:27:34,000 --> 00:27:36,800
Speaker 6: whatever the cause, whatever the situation is, whatever the time,

598
00:27:36,880 --> 00:27:39,200
Speaker 6: whatever it is, we can do that because there's no

599
00:27:39,200 --> 00:27:41,840
Speaker 6: one that can force our hand to say we don't want.

600
00:27:41,720 --> 00:27:45,760
Speaker 1: You participating in this, because we control the pockets.

601
00:27:46,560 --> 00:27:51,040
Speaker 7: So why the model as far as getting money to

602
00:27:51,119 --> 00:27:54,280
Speaker 7: creators from day one, Why is that so important and

603
00:27:54,480 --> 00:27:55,280
Speaker 7: it just works?

604
00:27:55,920 --> 00:27:58,640
Speaker 1: How is it going to change the landscape of social media? Well,

605
00:27:58,680 --> 00:28:00,679
Speaker 1: the first thing I think about is just ruption. So

606
00:28:01,240 --> 00:28:04,320
Speaker 1: if you're not pissing people off, then you're doing something wrong.

607
00:28:04,400 --> 00:28:06,240
Speaker 1: So the first thing when I got the kind of

608
00:28:06,240 --> 00:28:08,879
Speaker 1: the idea to really to even build a company, I

609
00:28:08,960 --> 00:28:12,600
Speaker 1: knew that this is going to disrupt industries because people

610
00:28:12,640 --> 00:28:16,159
Speaker 1: are always talking right now about TV and film, music,

611
00:28:16,200 --> 00:28:19,160
Speaker 1: we're having all these conversations about how these how artists

612
00:28:19,160 --> 00:28:22,240
Speaker 1: are getting paid enough for streaming, how athletes aren't getting

613
00:28:22,240 --> 00:28:25,240
Speaker 1: paid like the college players just got nil to be

614
00:28:25,280 --> 00:28:27,119
Speaker 1: able to do those kinds of things we're seeing.

615
00:28:27,440 --> 00:28:30,560
Speaker 6: You know, movie stars get their TV shows canceled, you know,

616
00:28:30,600 --> 00:28:33,320
Speaker 6: inserrated rap shits getting getting take off, and now she

617
00:28:33,400 --> 00:28:35,840
Speaker 6: needs to go independent because she can own her content

618
00:28:35,880 --> 00:28:37,640
Speaker 6: and all that kind of stuff. So for me, it's

619
00:28:37,680 --> 00:28:39,400
Speaker 6: like if I don't, if I don't create an environment

620
00:28:39,520 --> 00:28:42,760
Speaker 6: or an infrastructure where the community can own and monetize

621
00:28:42,760 --> 00:28:44,720
Speaker 6: from day one, it actually puts no limits because it

622
00:28:44,760 --> 00:28:47,920
Speaker 6: circumvents all the industries. The fact that you can pick

623
00:28:48,000 --> 00:28:51,760
Speaker 6: up your phone and subscribe directly to a person changes

624
00:28:52,200 --> 00:28:54,720
Speaker 6: business for every single person on the playt always say this,

625
00:28:54,800 --> 00:28:57,200
Speaker 6: there's nobody that's on fan base that is not a business.

626
00:28:57,680 --> 00:29:01,480
Speaker 6: The business is the business ability to receive revenue or

627
00:29:01,480 --> 00:29:04,200
Speaker 6: income for a product or service you provide. So for

628
00:29:04,240 --> 00:29:06,880
Speaker 6: that very reason, by default, every single person on fan

629
00:29:06,960 --> 00:29:10,760
Speaker 6: base is a business. And so I think that the

630
00:29:10,800 --> 00:29:13,880
Speaker 6: ability for us to generate revenue from day one, we

631
00:29:13,920 --> 00:29:15,560
Speaker 6: don't have to figure it out. Their apps out here

632
00:29:15,560 --> 00:29:18,240
Speaker 6: that have not figured it out that are clubhouses not

633
00:29:18,280 --> 00:29:20,560
Speaker 6: figured out how to generate revenue. There's a lot of

634
00:29:20,560 --> 00:29:22,520
Speaker 6: these startups that are in the social media space have

635
00:29:22,560 --> 00:29:24,520
Speaker 6: not figured out how to make revenue, but going to

636
00:29:24,560 --> 00:29:27,760
Speaker 6: direct a consumer and allowing the user to decide.

637
00:29:27,400 --> 00:29:29,160
Speaker 1: What they want to pay for. And we're seeing that

638
00:29:29,200 --> 00:29:30,640
Speaker 1: with younger kids anyway.

639
00:29:30,960 --> 00:29:32,880
Speaker 6: And that's another thing too, is saying like the future

640
00:29:33,000 --> 00:29:35,200
Speaker 6: is you know I was talking about when you see

641
00:29:35,240 --> 00:29:38,480
Speaker 6: kys and not Kai is twenty twenty one, twenty two

642
00:29:38,560 --> 00:29:41,320
Speaker 6: years old. He has about eighty five thousand subscribers making

643
00:29:41,360 --> 00:29:44,120
Speaker 6: four hundred thousand dollars a month. I can't see that

644
00:29:45,240 --> 00:29:47,720
Speaker 6: as a human being and not say I could do

645
00:29:47,760 --> 00:29:50,400
Speaker 6: this as an athlete. I could do this as a musician.

646
00:29:50,800 --> 00:29:52,880
Speaker 6: I don't have to be a gamer. It doesn't matter.

647
00:29:52,880 --> 00:29:54,360
Speaker 6: People going going to see the cond of that they want.

648
00:29:54,360 --> 00:29:59,320
Speaker 6: So it's extremely important that you know, we provide a

649
00:29:59,400 --> 00:30:02,680
Speaker 6: new way for people to monetize directly consuming to circumvent

650
00:30:02,800 --> 00:30:06,480
Speaker 6: all these these pillars that that block and rob artists

651
00:30:06,320 --> 00:30:10,120
Speaker 6: and athletes and movie stars and everybody you know.

652
00:30:10,200 --> 00:30:12,600
Speaker 8: I mean, it's it's pretty evident, right, that's the way

653
00:30:12,720 --> 00:30:14,400
Speaker 8: we can see if guys are we can see it

654
00:30:14,400 --> 00:30:16,560
Speaker 8: what the athletes bringing their own platforms right with just

655
00:30:16,760 --> 00:30:19,760
Speaker 8: Lebron and you the podcast, Now Dreymond comes to mind.

656
00:30:20,440 --> 00:30:22,880
Speaker 8: What do you think is gonna take for that drastic

657
00:30:23,000 --> 00:30:24,800
Speaker 8: change for people to say, all right, we're not going

658
00:30:24,840 --> 00:30:27,400
Speaker 8: to be with the just traditional ways of social media.

659
00:30:27,800 --> 00:30:29,760
Speaker 8: Something like fan base makes too much sense for us

660
00:30:29,800 --> 00:30:30,400
Speaker 8: not to be part of.

661
00:30:31,200 --> 00:30:35,840
Speaker 6: I think the first person that And I'm looking at

662
00:30:35,920 --> 00:30:38,720
Speaker 6: Kai now because again it's it's so it's so interesting

663
00:30:38,800 --> 00:30:45,120
Speaker 6: to me that he's making more money streaming with subscribers

664
00:30:45,160 --> 00:30:49,000
Speaker 6: than rappers are making recording an album, putting it out

665
00:30:49,320 --> 00:30:52,080
Speaker 6: and going and doing shows. Like it's like, you can

666
00:30:52,160 --> 00:30:54,840
Speaker 6: still do that, but there's still a lifestyle and a

667
00:30:54,880 --> 00:30:58,120
Speaker 6: personality that's involved every We're all human, so we all

668
00:30:58,160 --> 00:31:00,880
Speaker 6: have social lives or funny and human or whatever. So

669
00:31:00,880 --> 00:31:03,680
Speaker 6: to be able to monetize that, I think that it'll

670
00:31:03,720 --> 00:31:07,680
Speaker 6: shift when someone like him And I've seen this before,

671
00:31:07,760 --> 00:31:12,560
Speaker 6: Like again, there are these moments that happen that just

672
00:31:12,600 --> 00:31:15,200
Speaker 6: have me scratching my head, like I can't believe no

673
00:31:15,200 --> 00:31:18,320
Speaker 6: one is picking up on the fact that Bad Baby

674
00:31:18,360 --> 00:31:22,640
Speaker 6: made forty million dollars in a year, you know for subscribers.

675
00:31:22,760 --> 00:31:26,080
Speaker 6: Costano is making four hundred thousand dollars them out of subscribers.

676
00:31:26,120 --> 00:31:29,160
Speaker 6: That everybody's not dropping a plate of food. Let the

677
00:31:29,320 --> 00:31:32,080
Speaker 6: plate break and shatter. Say, wait, what did I just hear?

678
00:31:32,640 --> 00:31:34,360
Speaker 1: Hold on, I'm not finna, I'm not finished.

679
00:31:34,360 --> 00:31:37,600
Speaker 6: I'm nothing to do all this extra shit when I

680
00:31:37,600 --> 00:31:39,800
Speaker 6: can just really create and live and exist on social

681
00:31:39,840 --> 00:31:42,840
Speaker 6: media and have fun and then and then monetize and

682
00:31:43,280 --> 00:31:45,520
Speaker 6: still you know, have the same, you know, the same experience.

683
00:31:46,280 --> 00:31:52,719
Speaker 7: So do you think that this will be beneficial for

684
00:31:52,760 --> 00:31:55,320
Speaker 7: the every average day person, right, because everybody's nott it'll

685
00:31:55,320 --> 00:31:55,840
Speaker 7: be constantant.

686
00:31:56,160 --> 00:31:56,400
Speaker 1: Yeah.

687
00:31:56,440 --> 00:32:00,320
Speaker 7: So the average person that has a thousand followers, they're

688
00:32:00,320 --> 00:32:01,440
Speaker 7: not gonna make a lot of money.

689
00:32:01,840 --> 00:32:04,360
Speaker 5: So why does fan base make sense to them?

690
00:32:04,640 --> 00:32:05,120
Speaker 1: Go first?

691
00:32:05,120 --> 00:32:07,640
Speaker 6: Okay, so I'm going to say this because I'm going

692
00:32:07,720 --> 00:32:11,000
Speaker 6: to talk about the investment portion real quick. When I

693
00:32:11,040 --> 00:32:14,800
Speaker 6: first started to on startings and the minimum to invest

694
00:32:14,840 --> 00:32:17,800
Speaker 6: in fan base was two hundred and forty five dollars, right,

695
00:32:18,360 --> 00:32:20,960
Speaker 6: the minimum to investment fan base now is three hundred

696
00:32:21,000 --> 00:32:23,720
Speaker 6: and ninety nine dollars. The minimum to invest starting dot

697
00:32:23,760 --> 00:32:26,960
Speaker 6: comflash fan base shout out. But what I say is

698
00:32:27,000 --> 00:32:31,280
Speaker 6: more important that is that there are hundreds no, thousands

699
00:32:31,320 --> 00:32:34,560
Speaker 6: of users on fan base that have made the money

700
00:32:35,160 --> 00:32:38,719
Speaker 6: using fan base that they invested in fan base. So

701
00:32:39,160 --> 00:32:42,360
Speaker 6: it's not about I'm not telling everybody to get on

702
00:32:42,400 --> 00:32:44,480
Speaker 6: here and think that you're going to be a multimillionaire.

703
00:32:44,800 --> 00:32:48,280
Speaker 6: But I do believe that most people have enough money

704
00:32:48,680 --> 00:32:53,080
Speaker 6: to make monthly the ability to pay their rent or

705
00:32:53,320 --> 00:32:55,880
Speaker 6: you know, to get gas or put food in refrigerator.

706
00:32:55,960 --> 00:32:58,320
Speaker 1: Like we I see people making that amount of money.

707
00:32:58,320 --> 00:33:00,520
Speaker 6: I see a user, you know, make there's a user

708
00:33:00,560 --> 00:33:03,480
Speaker 6: that's made ten thousand dollars this year that has less

709
00:33:03,480 --> 00:33:06,800
Speaker 6: than thirty five hundred followers, an extra ten thousand dollars

710
00:33:06,840 --> 00:33:09,320
Speaker 6: a year, Like the average American's out is forty thousand dollars.

711
00:33:09,480 --> 00:33:11,520
Speaker 6: You're making a quarter of what you would have to

712
00:33:11,560 --> 00:33:13,760
Speaker 6: do to get to make the bare metium as a

713
00:33:13,760 --> 00:33:16,440
Speaker 6: salary in this country just making content. And it's not

714
00:33:16,520 --> 00:33:18,240
Speaker 6: it's not like you have to sit live and stream

715
00:33:18,280 --> 00:33:20,720
Speaker 6: all day long. You post content. People subscribing, they make

716
00:33:20,760 --> 00:33:22,600
Speaker 6: that money. So if I can make somebody, if I

717
00:33:22,640 --> 00:33:25,080
Speaker 6: can make enough money to put gas in my car

718
00:33:25,280 --> 00:33:27,400
Speaker 6: just by posting content, I'm with If I'm a young kid,

719
00:33:27,520 --> 00:33:28,280
Speaker 6: of course I would do that.

720
00:33:28,320 --> 00:33:29,880
Speaker 1: I'm can feed Feed myself.

721
00:33:29,920 --> 00:33:31,840
Speaker 6: I don't have to get it, and then that's just

722
00:33:32,240 --> 00:33:36,200
Speaker 6: that's like one hundred subscribers again, But if you know,

723
00:33:36,280 --> 00:33:39,160
Speaker 6: you get five thousand people, five thousand people are a

724
00:33:39,240 --> 00:33:41,600
Speaker 6: small number of people, and there's six billion people on

725
00:33:41,600 --> 00:33:44,560
Speaker 6: the planet. For five thousand people paying you two thousand

726
00:33:44,600 --> 00:33:47,400
Speaker 6: and fifty cents a month, it's twelve thousand, five hundred

727
00:33:47,440 --> 00:33:49,520
Speaker 6: a month, one hundred and fifty thousand dollars a year.

728
00:33:49,880 --> 00:33:52,320
Speaker 6: That's more than ninety seven percent of American to make.

729
00:33:53,000 --> 00:33:55,560
Speaker 6: And that's just five thousand people. So it's like it's

730
00:33:55,600 --> 00:33:58,880
Speaker 6: not you know, if we took that down, like I said,

731
00:33:58,880 --> 00:34:01,840
Speaker 6: we took that down to five hundred people, you're still

732
00:34:01,840 --> 00:34:05,600
Speaker 6: making fifteen thousand dollars a year. Who who wants to

733
00:34:05,600 --> 00:34:07,760
Speaker 6: try to extra fifteen thousand dollars a year in America?

734
00:34:07,960 --> 00:34:11,040
Speaker 6: Like just start making content. It's like it's a no

735
00:34:11,160 --> 00:34:11,680
Speaker 6: brighter than me.

736
00:34:12,840 --> 00:34:16,839
Speaker 8: We spoke two years ago from you're a person and

737
00:34:17,440 --> 00:34:20,560
Speaker 8: from all the signs right, people are making money right

738
00:34:20,960 --> 00:34:25,080
Speaker 8: flunctuates depending on the user, how many people probowers they have,

739
00:34:26,680 --> 00:34:28,520
Speaker 8: the companies make going and it's probable.

740
00:34:30,400 --> 00:34:31,879
Speaker 1: I asked you the end, so I ask you now

741
00:34:32,280 --> 00:34:35,160
Speaker 1: mergers and acquisitions is always a part of business. Have

742
00:34:35,320 --> 00:34:36,360
Speaker 1: the phone's been ringing?

743
00:34:36,400 --> 00:34:38,640
Speaker 8: Even more so as you continue to innovate, as you

744
00:34:38,719 --> 00:34:41,560
Speaker 8: continue to what I disrupt social media in a sense

745
00:34:41,560 --> 00:34:44,160
Speaker 8: where you can start revolutionizing.

746
00:34:43,480 --> 00:34:47,080
Speaker 1: They have the phone calls been coming in just for no.

747
00:34:47,239 --> 00:34:51,800
Speaker 6: I'm gonna tell you why, because fan base is a

748
00:34:52,080 --> 00:34:56,440
Speaker 6: I always say there's two phases to success in building businesses.

749
00:34:56,680 --> 00:34:58,759
Speaker 6: It's to beat them phase and it's the join them phase.

750
00:34:59,120 --> 00:35:01,640
Speaker 6: We're still in beat them. They're still sitting back like

751
00:35:01,800 --> 00:35:03,279
Speaker 6: I'm going to see here really going to raise the.

752
00:35:03,239 --> 00:35:06,680
Speaker 1: Seventeen million dollars and really like change the game and

753
00:35:06,719 --> 00:35:09,080
Speaker 1: the way that he does. One thing people, One thing

754
00:35:09,120 --> 00:35:14,200
Speaker 1: that Trump's grace is green is money. And so I

755
00:35:14,280 --> 00:35:17,440
Speaker 1: and I think I've had the best, like you know,

756
00:35:17,560 --> 00:35:20,640
Speaker 1: example in someone seeing the way that Tyler Perry built

757
00:35:20,640 --> 00:35:21,160
Speaker 1: his business.

758
00:35:21,360 --> 00:35:23,520
Speaker 6: At first it was all beat him. They was like,

759
00:35:23,680 --> 00:35:25,200
Speaker 6: oh well, now we got to join him. You know,

760
00:35:25,239 --> 00:35:28,239
Speaker 6: at some point in the beginning, there were no deals,

761
00:35:28,239 --> 00:35:30,200
Speaker 6: but then it was TBS and there was a Lion's Game.

762
00:35:30,239 --> 00:35:33,120
Speaker 6: There was owned and then it became Netflix and Amazon

763
00:35:33,200 --> 00:35:35,879
Speaker 6: and now it's like okay, cool, it's BT's like okay, here,

764
00:35:36,480 --> 00:35:39,839
Speaker 6: so fan base is always until we get the we're

765
00:35:39,840 --> 00:35:41,359
Speaker 6: going to be in the beat up phase because this

766
00:35:41,440 --> 00:35:43,880
Speaker 6: is this is majorly disruptive in the way that I

767
00:35:43,920 --> 00:35:45,880
Speaker 6: say all the time. Again, it's like, I think that

768
00:35:45,960 --> 00:35:50,239
Speaker 6: this is one of the most pivotal moments in technology,

769
00:35:50,880 --> 00:35:56,600
Speaker 6: social media and wealth building because we've never been here before.

770
00:35:57,000 --> 00:36:00,319
Speaker 6: You cannot name a time that there's been a a

771
00:36:00,440 --> 00:36:03,680
Speaker 6: social media company that's been founded that allows the public

772
00:36:03,719 --> 00:36:08,239
Speaker 6: to invest. So now anybody without restriction can actually own

773
00:36:08,280 --> 00:36:12,080
Speaker 6: part of something that they use and then there's no earners.

774
00:36:12,120 --> 00:36:12,480
Speaker 1: What's up?

775
00:36:12,560 --> 00:36:15,040
Speaker 9: You ever walk into a small business and everything just

776
00:36:15,200 --> 00:36:18,400
Speaker 9: works like the checkout is fast, the receipts are digital,

777
00:36:18,920 --> 00:36:21,880
Speaker 9: tipping is a breeze, and you're out the door before

778
00:36:21,880 --> 00:36:26,040
Speaker 9: the line even builds odds are they're using Square. We

779
00:36:26,200 --> 00:36:28,759
Speaker 9: love supporting businesses that run on Square because it just

780
00:36:28,800 --> 00:36:32,040
Speaker 9: feels seamless. Whether it's a local coffee shop, a vendor

781
00:36:32,080 --> 00:36:34,319
Speaker 9: at a pop up market, or even one of our

782
00:36:34,400 --> 00:36:38,040
Speaker 9: merch partners. Square makes it easy for them to take payments,

783
00:36:38,239 --> 00:36:42,000
Speaker 9: manage inventory, and run their business with confidence, all from

784
00:36:42,080 --> 00:36:45,480
Speaker 9: one simple system. If you're a business owner or even

785
00:36:45,560 --> 00:36:49,080
Speaker 9: just thinking about launching something soon Square is hands down

786
00:36:49,120 --> 00:36:51,440
Speaker 9: one of the best tools out there to help you start,

787
00:36:51,840 --> 00:36:55,399
Speaker 9: run and grow. It's not just about payments, it's about

788
00:36:55,440 --> 00:36:57,840
Speaker 9: giving you time back so you can focus on what

789
00:36:58,040 --> 00:37:01,000
Speaker 9: matters most ready. To see how Square where can transform

790
00:37:01,040 --> 00:37:05,920
Speaker 9: your business, visit Square dot com backslash go backslash eyl

791
00:37:06,160 --> 00:37:11,160
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792
00:37:11,320 --> 00:37:14,520
Speaker 9: Don't wait, don't hesitate. Let's Square handle the back end

793
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Speaker 9: so you can keep pushing your vision forward. This episode

794
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Speaker 9: is brought to you by P and C Bank. A

795
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Speaker 9: lot of people think podcasts about work are boring, and

796
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Speaker 9: sure they definitely can be, but understanding a professionals routine

797
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798
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799
00:37:37,560 --> 00:37:40,360
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800
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801
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802
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803
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804
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Speaker 9: the PNC Financial Service Group, Inc. P and C Bank

805
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Speaker 9: National Association Member Fee.

806
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Speaker 3: An illegal alien from Guatemala charged with raping a child

807
00:38:05,840 --> 00:38:09,600
Speaker 3: in Massachusetts. An MS thirteen gang member from Al Salvador

808
00:38:09,880 --> 00:38:14,000
Speaker 3: accused of murdering a Texas man of Venezuelan charged with

809
00:38:14,080 --> 00:38:17,960
Speaker 3: filming and selling child pornography in Michigan. These are just

810
00:38:18,080 --> 00:38:21,840
Speaker 3: some of the heinous migrant criminals caught because of President

811
00:38:21,840 --> 00:38:25,399
Speaker 3: Donald J. Trump's leadership. I'm Christy nom the United States

812
00:38:25,440 --> 00:38:30,240
Speaker 3: Secretary of Homeland Security. Under President Trump, attempted illegal border

813
00:38:30,280 --> 00:38:33,839
Speaker 3: crossings are at the lowest levels ever recorded, and over

814
00:38:33,880 --> 00:38:37,120
Speaker 3: one hundred thousand illegal aliens have been arrested. If you

815
00:38:37,200 --> 00:38:41,040
Speaker 3: are here illegally, your next you will be fine nearly

816
00:38:41,120 --> 00:38:45,160
Speaker 3: one thousand dollars a day, imprisoned and deported, you will

817
00:38:45,160 --> 00:38:48,839
Speaker 3: never return. But if you register using our CBP home

818
00:38:48,880 --> 00:38:52,240
Speaker 3: app and leave now, you could be allowed to return legally.

819
00:38:52,600 --> 00:38:57,360
Speaker 3: Do what's right. Leave now. Under President Trump, America's laws,

820
00:38:57,520 --> 00:38:59,960
Speaker 3: border and families will be protected.

821
00:39:00,080 --> 00:39:02,200
Speaker 4: Sponsored by the United States Department of Homeland Security.

822
00:39:02,320 --> 00:39:05,000
Speaker 6: Limit into how fast you know or how big these

823
00:39:05,040 --> 00:39:07,000
Speaker 6: companies can get. When you're looking at Facebook as a

824
00:39:07,000 --> 00:39:07,680
Speaker 6: market cap.

825
00:39:07,520 --> 00:39:10,359
Speaker 1: Of two point two trillion dollars, I'm not even thinking

826
00:39:10,400 --> 00:39:13,200
Speaker 1: about two trillion. I mean, granted, like.

827
00:39:13,200 --> 00:39:14,920
Speaker 6: Cool, I think Facebook is something that's like a one

828
00:39:14,960 --> 00:39:18,760
Speaker 6: in a lifetime, you know company, But there's still companies.

829
00:39:18,760 --> 00:39:21,920
Speaker 6: Even if you remove Instagram from Facebook, it's still the

830
00:39:22,000 --> 00:39:23,480
Speaker 6: three hundred billion dollar company.

831
00:39:24,040 --> 00:39:24,600
Speaker 1: You know what I'm saying.

832
00:39:24,640 --> 00:39:27,400
Speaker 6: If you're looking at TikTok separated from bite dad to

833
00:39:27,520 --> 00:39:31,000
Speaker 6: still probably one hundred two hundred billion dollar.

834
00:39:30,880 --> 00:39:33,560
Speaker 1: Company've just got every one six. Yeah. So I'm like,

835
00:39:34,080 --> 00:39:37,359
Speaker 1: do you understand? Like how how okay? So now so

836
00:39:37,520 --> 00:39:37,960
Speaker 1: think of that.

837
00:39:38,000 --> 00:39:40,439
Speaker 6: So think of now one hundred and sixty billion dollar

838
00:39:40,520 --> 00:39:42,120
Speaker 6: company that's owned.

839
00:39:41,800 --> 00:39:44,160
Speaker 1: By people that look like us.

840
00:39:44,440 --> 00:39:46,719
Speaker 6: We ain't never been there before. I don't even know

841
00:39:46,719 --> 00:39:48,520
Speaker 6: who the richest black person on the planet is.

842
00:39:48,800 --> 00:39:52,080
Speaker 1: I'm I'm never like nineteen billion. What's the rich nineteen billion?

843
00:39:52,400 --> 00:39:55,600
Speaker 1: Who didn't know? Yeah, like nineteen billion. So I'm just saying, like, yo,

844
00:39:55,840 --> 00:39:58,759
Speaker 1: we never, we never. And my point is.

845
00:39:58,680 --> 00:40:02,520
Speaker 6: For us to to really build and make and transform

846
00:40:02,719 --> 00:40:04,120
Speaker 6: wealth not only is it.

847
00:40:04,120 --> 00:40:07,319
Speaker 1: And my goal is not to be worth more than

848
00:40:07,400 --> 00:40:08,040
Speaker 1: nineteen billion.

849
00:40:08,080 --> 00:40:11,040
Speaker 6: My goal is to create ten or fifteen other people

850
00:40:11,120 --> 00:40:13,120
Speaker 6: that are worth are multi billionaires.

851
00:40:13,400 --> 00:40:15,239
Speaker 1: Because technology is the fastest way.

852
00:40:15,440 --> 00:40:17,600
Speaker 6: I heard Robert and Smith say this. He's like technology

853
00:40:17,600 --> 00:40:19,200
Speaker 6: is a fastest way to do a wealth in this texture,

854
00:40:19,520 --> 00:40:23,000
Speaker 6: It's like all these eight of the top ten richest

855
00:40:23,000 --> 00:40:29,239
Speaker 6: people on the planet are in technology Oracle, Microsoft, Amazon, Google, Facebook,

856
00:40:29,920 --> 00:40:33,279
Speaker 6: and Elon with Tesla and acts like it's like, yo,

857
00:40:33,440 --> 00:40:35,239
Speaker 6: those are all the people only people from Bernard Orna

858
00:40:35,440 --> 00:40:37,759
Speaker 6: is the number one guy and he owned every other

859
00:40:37,840 --> 00:40:41,000
Speaker 6: brand in existence, and you know, and then Berkshire Hathaway.

860
00:40:42,360 --> 00:40:44,160
Speaker 1: You know what I'm saying. But it's technology.

861
00:40:44,239 --> 00:40:46,840
Speaker 6: So we're in a We're in an unprecedented amount of

862
00:40:46,920 --> 00:40:50,359
Speaker 6: time a time because ownership and equity in these in

863
00:40:50,400 --> 00:40:53,279
Speaker 6: these tech companies. These are companies that can be worth

864
00:40:53,520 --> 00:40:56,520
Speaker 6: one hundred billion, you know, like one hundred billion dollars,

865
00:40:56,560 --> 00:40:59,480
Speaker 6: one hundred and sixty billion dollars. It's totally achievable. We've

866
00:40:59,520 --> 00:41:02,480
Speaker 6: never been there before. And I think, you know, I

867
00:41:02,520 --> 00:41:07,080
Speaker 6: think we have the the the unique opportunity to gain

868
00:41:07,160 --> 00:41:10,040
Speaker 6: I was telling I was telling people here today, I

869
00:41:10,080 --> 00:41:11,160
Speaker 6: was like, Yo, we get this wrong.

870
00:41:12,080 --> 00:41:13,600
Speaker 1: You can't don't blame.

871
00:41:13,400 --> 00:41:17,440
Speaker 6: Me because it's literally here for us to take advantage of.

872
00:41:17,960 --> 00:41:21,439
Speaker 6: And that's why, you know, the rays that we're doing

873
00:41:21,520 --> 00:41:25,759
Speaker 6: was so important because it gives there's no excuses. Once

874
00:41:25,800 --> 00:41:29,440
Speaker 6: I raise seventeen million dollars. I give everybody everything that

875
00:41:29,480 --> 00:41:32,720
Speaker 6: they want. I give every If you want certain songs,

876
00:41:32,760 --> 00:41:35,120
Speaker 6: you want, certain functionalities, you want, certain features you want,

877
00:41:35,280 --> 00:41:38,839
Speaker 6: I can give you that in a year, Like by

878
00:41:38,880 --> 00:41:40,160
Speaker 6: the end of the year, I can give you most

879
00:41:40,160 --> 00:41:41,440
Speaker 6: of the things that you want, and then we get

880
00:41:41,480 --> 00:41:43,080
Speaker 6: to do the things that I want to do. There's

881
00:41:43,080 --> 00:41:44,480
Speaker 6: some of the things that I talk about, like we

882
00:41:44,840 --> 00:41:47,400
Speaker 6: just launched branded audio on web and I was like,

883
00:41:47,440 --> 00:41:49,200
Speaker 6: no one's doing that, And that's what I'm saying, like, man,

884
00:41:49,239 --> 00:41:52,360
Speaker 6: if they're not doing this, there's so many other ideas

885
00:41:52,400 --> 00:41:55,000
Speaker 6: that are available that we can do. So I'm like, again,

886
00:41:55,480 --> 00:41:57,520
Speaker 6: they're gonna be in beta phase until they say, okay,

887
00:41:57,680 --> 00:42:00,640
Speaker 6: now we got to go invest in them, because obviously

888
00:42:00,719 --> 00:42:01,600
Speaker 6: he's going to keep going.

889
00:42:01,760 --> 00:42:04,799
Speaker 7: So so let me ask you this, how what's the

890
00:42:04,840 --> 00:42:07,640
Speaker 7: path to profitability? Like how do you make money in

891
00:42:07,680 --> 00:42:09,880
Speaker 7: the long term even for investors right to know like, Okay,

892
00:42:09,880 --> 00:42:12,520
Speaker 7: I'm investing in this company and then essentially they're going

893
00:42:12,560 --> 00:42:15,120
Speaker 7: to be profitable or so on, go public because you

894
00:42:15,120 --> 00:42:18,240
Speaker 7: say you don't like advertisers, So the subscription based model,

895
00:42:18,520 --> 00:42:19,880
Speaker 7: that's the only way that you're going to plan and

896
00:42:19,920 --> 00:42:20,319
Speaker 7: make money.

897
00:42:20,400 --> 00:42:23,040
Speaker 6: No, that's not the only way. There's not there's I can't.

898
00:42:23,120 --> 00:42:24,680
Speaker 6: I can't tell you every other way we're going to

899
00:42:25,320 --> 00:42:27,439
Speaker 6: make money because there are other things there. There's there's

900
00:42:27,520 --> 00:42:30,239
Speaker 6: layers on top of layers that are built in ways

901
00:42:30,239 --> 00:42:32,080
Speaker 6: that you get you can do this, But I'm keeping

902
00:42:32,080 --> 00:42:35,280
Speaker 6: those a secret because again, nobody thinks of this stuff.

903
00:42:35,320 --> 00:42:36,719
Speaker 1: So it's like, okay, cool.

904
00:42:38,040 --> 00:42:43,480
Speaker 6: To explain to people that invest in aguity, crowdfunding and

905
00:42:43,560 --> 00:42:46,959
Speaker 6: startups this way. You're investing in a period of time

906
00:42:47,000 --> 00:42:50,000
Speaker 6: where you know ninety nine percent of the general public

907
00:42:50,040 --> 00:42:53,879
Speaker 6: never gets this opportunity because these opportunities have been available to.

908
00:42:55,600 --> 00:42:57,239
Speaker 1: Accredited investors for so long.

909
00:42:57,280 --> 00:42:59,759
Speaker 6: And I talk about that that's so important because that

910
00:42:59,840 --> 00:43:01,480
Speaker 6: is say that has nothing to do with the race

911
00:43:01,520 --> 00:43:03,400
Speaker 6: at that point, Like the credit industry rule has been

912
00:43:03,400 --> 00:43:07,439
Speaker 6: in effect since nineteen thirty three, and so up until

913
00:43:07,440 --> 00:43:11,040
Speaker 6: twenty fifteen, you know, eighty eighty three years or however

914
00:43:11,120 --> 00:43:14,359
Speaker 6: long it was, you couldn't invest. So now, when you're

915
00:43:14,400 --> 00:43:17,400
Speaker 6: investing in seed stage companies, you ride the lacke of

916
00:43:17,400 --> 00:43:18,960
Speaker 6: the company. So I say, you're with us to the

917
00:43:18,960 --> 00:43:21,520
Speaker 6: moon or to the ground, right, And it's a risk

918
00:43:21,560 --> 00:43:25,400
Speaker 6: neier investment. But the differences with retail investors and equity

919
00:43:25,440 --> 00:43:29,400
Speaker 6: crowdfunding is with institutional investors, they will require these minimums

920
00:43:29,480 --> 00:43:31,160
Speaker 6: like you need to put ten thousand and fifty thousand

921
00:43:31,239 --> 00:43:32,400
Speaker 6: in to invest right.

922
00:43:32,680 --> 00:43:34,799
Speaker 1: And everybody can have ten thousand and fifty thousand dollars,

923
00:43:34,880 --> 00:43:36,320
Speaker 1: but four ninety nine.

924
00:43:36,640 --> 00:43:40,680
Speaker 6: People don't spend four ninety nine at Mastros or some

925
00:43:40,840 --> 00:43:43,279
Speaker 6: steakhouse or at the strip club or whatever it is.

926
00:43:43,760 --> 00:43:45,640
Speaker 6: And that might spend four ninety nine like two or

927
00:43:45,640 --> 00:43:47,799
Speaker 6: three times this month. Do you understand what I'm saying?

928
00:43:47,840 --> 00:43:50,520
Speaker 6: Because people are say like, okay, what people don't really

929
00:43:50,520 --> 00:43:52,560
Speaker 6: have money, Like the black community spends two point two

930
00:43:52,600 --> 00:43:55,719
Speaker 6: trillion dollars a year on shit. You're telling me that

931
00:43:56,000 --> 00:43:58,319
Speaker 6: we you can't take a weekend off and say, look,

932
00:43:58,360 --> 00:44:01,080
Speaker 6: I'm not going to spend four ninety nine on this

933
00:44:01,160 --> 00:44:04,680
Speaker 6: fresh fit and you know, and taking some girl to

934
00:44:04,760 --> 00:44:07,400
Speaker 6: dinner or whatever, buy whatever we buy and say just

935
00:44:07,400 --> 00:44:09,759
Speaker 6: this one, this one moment, I'm gonna throw some money

936
00:44:09,760 --> 00:44:11,399
Speaker 6: in here, in this in this startup, and I'm gonna

937
00:44:11,440 --> 00:44:13,440
Speaker 6: forget about it. And what happens is you ride with

938
00:44:13,560 --> 00:44:17,279
Speaker 6: us to what it's called a liquidity event.

939
00:44:17,560 --> 00:44:18,880
Speaker 1: So how people exit companies.

940
00:44:18,880 --> 00:44:22,799
Speaker 6: So when you hear these conversations about these entertainers, celebrities,

941
00:44:22,920 --> 00:44:25,520
Speaker 6: people that are investing in startups. When when William was

942
00:44:25,520 --> 00:44:27,759
Speaker 6: talking about how he was in Beats and here he

943
00:44:27,800 --> 00:44:30,279
Speaker 6: was an investor in Beats and then he got paid

944
00:44:30,280 --> 00:44:32,560
Speaker 6: when they sold to Apple. So that's the same way.

945
00:44:32,560 --> 00:44:35,439
Speaker 6: It's either an acquisition or you go public. So when

946
00:44:35,440 --> 00:44:38,839
Speaker 6: you hear people like okay, coinbase goes public whatever, then

947
00:44:38,840 --> 00:44:40,960
Speaker 6: they cash out their shares. So those are the two

948
00:44:41,000 --> 00:44:45,359
Speaker 6: eventualities for fan bases. Either going public, which is like okay, cool,

949
00:44:45,400 --> 00:44:47,600
Speaker 6: we go public. We're putting a portion of the company

950
00:44:47,680 --> 00:44:50,560
Speaker 6: available for the general public for retail and retail investment

951
00:44:50,640 --> 00:44:52,480
Speaker 6: to investment, but that's way after the fact. That's a

952
00:44:52,640 --> 00:44:54,799
Speaker 6: that's after we've already done. We already got to a

953
00:44:54,840 --> 00:44:57,560
Speaker 6: billion dollar valuation. It's like, cool, you're gonna you're gonna

954
00:44:57,560 --> 00:44:59,120
Speaker 6: see that return of your investment, but it's gonna be

955
00:44:59,160 --> 00:45:02,600
Speaker 6: way slower than and these these high risk investments that

956
00:45:02,680 --> 00:45:05,960
Speaker 6: don't require a lot of capital, or someone that is

957
00:45:06,000 --> 00:45:09,400
Speaker 6: not you know, I guess a too big of a

958
00:45:09,440 --> 00:45:12,360
Speaker 6: competitor will come along and purchase us, like outside of

959
00:45:12,360 --> 00:45:14,520
Speaker 6: what's going on, because I know Facebook is not in

960
00:45:14,560 --> 00:45:17,000
Speaker 6: Facebook wouldn't purchase us because the've already already are already

961
00:45:17,040 --> 00:45:19,200
Speaker 6: on the head for trying to buy too much stuff anyway,

962
00:45:19,440 --> 00:45:21,000
Speaker 6: So someone would be like, all right, cool, We're gonna

963
00:45:21,000 --> 00:45:24,120
Speaker 6: come along and purchase fan base, and then everybody cashes

964
00:45:24,120 --> 00:45:25,440
Speaker 6: out and walks.

965
00:45:25,200 --> 00:45:26,439
Speaker 1: Off into the sunset with a bag.

966
00:45:26,840 --> 00:45:29,400
Speaker 8: You know, are you finding that because I would imagine

967
00:45:29,400 --> 00:45:31,680
Speaker 8: that a lot of the people who are using crowd

968
00:45:31,719 --> 00:45:33,719
Speaker 8: card or using it for the first time, are you

969
00:45:33,760 --> 00:45:37,560
Speaker 8: finding yourself having to go through an education process for

970
00:45:37,680 --> 00:45:41,200
Speaker 8: some of the investors or are people because of the

971
00:45:41,280 --> 00:45:44,719
Speaker 8: time and obviously the financial revolution that's happened, they're coming

972
00:45:44,760 --> 00:45:46,759
Speaker 8: here with a different knowledge.

973
00:45:46,440 --> 00:45:50,279
Speaker 6: Base when coming to no You know, the irony in

974
00:45:50,320 --> 00:45:53,720
Speaker 6: that is that most people, I always say, politics and finance.

975
00:45:53,760 --> 00:45:55,240
Speaker 6: You guys probably know this more than anything.

976
00:45:55,280 --> 00:45:55,680
Speaker 1: It's like.

977
00:45:57,640 --> 00:45:59,320
Speaker 6: When you guys start talking about some of the stuff

978
00:45:59,320 --> 00:46:01,120
Speaker 6: you're talking about, ninety nine of a sudden of the

979
00:46:01,160 --> 00:46:04,000
Speaker 6: people get intimidated and just turn off. You really have

980
00:46:04,080 --> 00:46:06,920
Speaker 6: it's your responsibility to learn where you guys learn just

981
00:46:06,960 --> 00:46:08,759
Speaker 6: as much as anything, Just as much as I learned

982
00:46:08,760 --> 00:46:12,040
Speaker 6: about tech and and and investing in startups. It's your

983
00:46:12,120 --> 00:46:14,120
Speaker 6: job to educate yourself on those things. And the same

984
00:46:14,120 --> 00:46:16,560
Speaker 6: thing in politics, people feel like they're you're talking over

985
00:46:16,600 --> 00:46:18,080
Speaker 6: their heads, so they don't want to They don't want

986
00:46:18,080 --> 00:46:19,360
Speaker 6: to look stupid. They don't feel like, I don't know

987
00:46:19,400 --> 00:46:21,400
Speaker 6: what the hell you're talking about, so they kind of

988
00:46:21,400 --> 00:46:22,919
Speaker 6: act like they do there not in the head, like yeah,

989
00:46:23,000 --> 00:46:25,239
Speaker 6: you know, I'm diverse and five, I got a portfolio.

990
00:46:25,360 --> 00:46:27,439
Speaker 6: Don't know what none of that shit, queen like none

991
00:46:27,480 --> 00:46:29,120
Speaker 6: of it, you know what I'm saying. So for me,

992
00:46:29,440 --> 00:46:33,600
Speaker 6: I'm I'm I overshare the information because I feel like

993
00:46:33,600 --> 00:46:34,279
Speaker 6: we need to know.

994
00:46:34,680 --> 00:46:37,800
Speaker 1: And the way that I communicate is definitely.

995
00:46:38,800 --> 00:46:41,120
Speaker 6: Something that I feel like everybody can understand when I

996
00:46:41,160 --> 00:46:43,799
Speaker 6: when I use you know, when I like when I

997
00:46:43,840 --> 00:46:47,600
Speaker 6: say you'll go, you'll go buy some some crazy tennis shoes,

998
00:46:47,640 --> 00:46:49,680
Speaker 6: but you can spend that and actually have equity ownership

999
00:46:49,719 --> 00:46:52,200
Speaker 6: in the company and explain how the process works and

1000
00:46:52,239 --> 00:46:54,880
Speaker 6: how you actually you know, you actually grow with the startup.

1001
00:46:55,080 --> 00:46:57,080
Speaker 1: All this stuff is new, So I don't.

1002
00:46:56,880 --> 00:47:00,279
Speaker 6: Mind sharing that information to people so that they're it's

1003
00:47:00,320 --> 00:47:03,960
Speaker 6: more than transparent, it's educational. I love putting us on

1004
00:47:04,200 --> 00:47:06,560
Speaker 6: I love telling people like, yo, this is the way

1005
00:47:06,600 --> 00:47:08,839
Speaker 6: to go this is how we do this, because not

1006
00:47:08,880 --> 00:47:11,920
Speaker 6: only for what fan base does, but for anybody that

1007
00:47:11,960 --> 00:47:15,279
Speaker 6: wants to fund their businesses. I've shared, I've recommend it now.

1008
00:47:15,680 --> 00:47:18,800
Speaker 6: I think five four or five companies to start engine.

1009
00:47:18,920 --> 00:47:22,439
Speaker 6: I think three of them gone to raising millions, raising

1010
00:47:22,480 --> 00:47:25,239
Speaker 6: million plus dollars. The other ones kind of almost met

1011
00:47:25,239 --> 00:47:28,000
Speaker 6: their goals. They didn't, but it's still me putting people

1012
00:47:28,000 --> 00:47:31,160
Speaker 6: in position to actually accomplish their dreams when they couldn't

1013
00:47:31,200 --> 00:47:32,680
Speaker 6: go get institutional capital.

1014
00:47:33,719 --> 00:47:37,280
Speaker 7: So as far as challenges, like, what are some challenges

1015
00:47:37,360 --> 00:47:38,640
Speaker 7: or threats into space fear.

1016
00:47:39,600 --> 00:47:44,000
Speaker 6: Well, I mean the first challenge is actually and I

1017
00:47:44,000 --> 00:47:46,719
Speaker 6: gotta I gotta say this again because I'm learning, I

1018
00:47:46,800 --> 00:47:49,239
Speaker 6: learned this process and I'm actually sharing the information that

1019
00:47:49,280 --> 00:47:51,520
Speaker 6: I'm just learning now. So when you when you apply

1020
00:47:51,680 --> 00:47:59,279
Speaker 6: for reggae reggae crowdfunding, they're different rules. So the REGCF

1021
00:47:59,360 --> 00:48:01,799
Speaker 6: space is a lot more lenient. So when I did

1022
00:48:01,800 --> 00:48:03,840
Speaker 6: the REXCF, when I raised at Timmy and in the REXCF,

1023
00:48:04,239 --> 00:48:04,879
Speaker 6: I could go on.

1024
00:48:04,960 --> 00:48:08,720
Speaker 1: Radio, I could go on TV. I could just say

1025
00:48:08,760 --> 00:48:11,080
Speaker 1: whatever I wanted to say and do what I wanted

1026
00:48:11,080 --> 00:48:13,160
Speaker 1: to do. When you move up to the REGA.

1027
00:48:14,000 --> 00:48:19,719
Speaker 6: Space, you are prohibited from going on live television, so

1028
00:48:19,800 --> 00:48:21,840
Speaker 6: any lock So I could never go on seeing it

1029
00:48:21,920 --> 00:48:25,200
Speaker 6: in Bloomberg or whatever, or live radio and promoting a raise.

1030
00:48:25,320 --> 00:48:27,439
Speaker 1: You can't do that. You can only promote the raise

1031
00:48:27,440 --> 00:48:29,279
Speaker 1: where there's a clickable link to.

1032
00:48:29,320 --> 00:48:31,600
Speaker 6: The rais and a clickable link to that filing that

1033
00:48:31,640 --> 00:48:33,400
Speaker 6: I say, that's a disclosure of all the stuff that

1034
00:48:33,440 --> 00:48:33,759
Speaker 6: you did.

1035
00:48:34,040 --> 00:48:35,359
Speaker 1: So that makes it very very hard.

1036
00:48:35,480 --> 00:48:37,360
Speaker 6: I'm fortunate to be able to be on a program

1037
00:48:37,400 --> 00:48:39,360
Speaker 6: like this or this is on the internet and on

1038
00:48:39,400 --> 00:48:41,600
Speaker 6: the web right, But the thing that makes that so

1039
00:48:41,719 --> 00:48:45,439
Speaker 6: difficult is like those rules I'm from nineteen ninety five,

1040
00:48:46,120 --> 00:48:49,400
Speaker 6: Like the equity crowdfundy came on in twenty fifteen, and

1041
00:48:49,440 --> 00:48:52,040
Speaker 6: I'm still having to bude by rules that were.

1042
00:48:52,040 --> 00:48:55,600
Speaker 1: From nineteen ninety five. So hopefully the SEC see some

1043
00:48:55,680 --> 00:48:56,040
Speaker 1: way to.

1044
00:48:56,120 --> 00:48:59,719
Speaker 6: Change that, because it's really hard to raise this type

1045
00:48:59,760 --> 00:49:03,759
Speaker 6: of capital without being able to have other ways other

1046
00:49:03,840 --> 00:49:07,600
Speaker 6: than just knowing people or spending an enormous amount of

1047
00:49:07,600 --> 00:49:10,280
Speaker 6: money creating ads and marketing. I could go run ads

1048
00:49:10,320 --> 00:49:12,920
Speaker 6: on Facebook and Instagram, but a lot of times you

1049
00:49:13,040 --> 00:49:15,560
Speaker 6: spend two hundred thousand dollars for every million that you're raised,

1050
00:49:16,080 --> 00:49:18,719
Speaker 6: So even I would still spend spending a million dollars

1051
00:49:18,760 --> 00:49:20,800
Speaker 6: just to raise the money that I need and running

1052
00:49:20,840 --> 00:49:23,640
Speaker 6: ads and that doesn't help. So I'm being as shrewd

1053
00:49:23,640 --> 00:49:25,560
Speaker 6: as I can and efficient as I can and doing this.

1054
00:49:25,640 --> 00:49:31,200
Speaker 6: That's the biggest challenges is how we navigate this new

1055
00:49:31,320 --> 00:49:35,160
Speaker 6: level of crowdfunding to be able.

1056
00:49:34,920 --> 00:49:35,359
Speaker 1: To do that.

1057
00:49:35,480 --> 00:49:38,759
Speaker 6: Other than that, I think we have to prepare for

1058
00:49:38,960 --> 00:49:41,920
Speaker 6: the things that we don't know. The other I think

1059
00:49:42,520 --> 00:49:46,719
Speaker 6: I don't. I always know that they're challenges, but I

1060
00:49:46,760 --> 00:49:48,600
Speaker 6: don't look at them as challenges. I just look at

1061
00:49:48,640 --> 00:49:51,040
Speaker 6: them as puzzles that I have to solve, or things

1062
00:49:51,040 --> 00:49:52,759
Speaker 6: that I have to learn, or obstacles that you have

1063
00:49:52,800 --> 00:49:56,920
Speaker 6: to overcome. It's not like it's not like I'm stuck.

1064
00:49:57,160 --> 00:50:00,400
Speaker 6: I believe that capital again, I comfantly believe that capital

1065
00:50:00,520 --> 00:50:04,200
Speaker 6: is probably the biggest hurdle to most anyone building their businesses.

1066
00:50:04,320 --> 00:50:06,080
Speaker 6: We have, but we don't have We don't have problem

1067
00:50:06,400 --> 00:50:10,120
Speaker 6: creating great ideas. There's great ideas and all types of

1068
00:50:10,160 --> 00:50:12,160
Speaker 6: companies that create and get created every day. We don't

1069
00:50:12,200 --> 00:50:14,400
Speaker 6: have issues with that. It's how we scale these business

1070
00:50:14,239 --> 00:50:16,960
Speaker 6: It's the ability to take capital and then scale your

1071
00:50:16,960 --> 00:50:18,719
Speaker 6: business to the next level. I know people that have

1072
00:50:19,120 --> 00:50:21,680
Speaker 6: phenomenal businesses, but it's the access to capital how we

1073
00:50:21,800 --> 00:50:23,800
Speaker 6: scale those business that's the biggest challenges.

1074
00:50:23,840 --> 00:50:27,479
Speaker 1: The money. So as you're scaling, you got to build

1075
00:50:27,480 --> 00:50:28,080
Speaker 1: a team.

1076
00:50:28,239 --> 00:50:30,440
Speaker 8: Yeah, right, So to talk about that process because not

1077
00:50:30,480 --> 00:50:32,759
Speaker 8: only are you the founder and CEO of it, but

1078
00:50:32,800 --> 00:50:36,240
Speaker 8: you're also making sure that everything here is running smoothly.

1079
00:50:36,320 --> 00:50:38,839
Speaker 8: You got to have a process and in the innovation too,

1080
00:50:38,880 --> 00:50:40,759
Speaker 8: So how do you how are you balancing all these

1081
00:50:40,840 --> 00:50:42,040
Speaker 8: roles with us?

1082
00:50:42,080 --> 00:50:47,080
Speaker 6: So well, you have to kind of like delegate. You

1083
00:50:47,080 --> 00:50:49,600
Speaker 6: have to actually delegate responsibility. So I've done a lot

1084
00:50:49,640 --> 00:50:55,760
Speaker 6: of delegating responsibility my my CTO COO Romero Cannabis, brilliant

1085
00:50:55,760 --> 00:51:03,000
Speaker 6: guy Silvanna, who is our finance director, who's our terim CFO,

1086
00:51:03,680 --> 00:51:07,120
Speaker 6: and then underneath them, they're building teams.

1087
00:51:07,239 --> 00:51:09,760
Speaker 1: So it's my job. Like I'm a visionary. I accept

1088
00:51:09,760 --> 00:51:10,680
Speaker 1: my role as a visionary.

1089
00:51:11,040 --> 00:51:13,640
Speaker 6: I'm the big idea is that you know overall general

1090
00:51:13,680 --> 00:51:15,759
Speaker 6: direction of what Families is going to do, But I

1091
00:51:15,800 --> 00:51:20,480
Speaker 6: trust the people that I've brought on board to handle

1092
00:51:20,520 --> 00:51:25,080
Speaker 6: those fine details. But I also educate myself on that process,

1093
00:51:25,200 --> 00:51:27,200
Speaker 6: especially the way that we did it through equity crowdfulding.

1094
00:51:27,200 --> 00:51:29,520
Speaker 6: I say this all the time thereculary crowdfundling. I know

1095
00:51:29,600 --> 00:51:32,000
Speaker 6: more about my business than most people do because I

1096
00:51:32,040 --> 00:51:33,000
Speaker 6: got to know the finances.

1097
00:51:33,040 --> 00:51:34,600
Speaker 1: I got to know the corporate structure.

1098
00:51:34,600 --> 00:51:36,400
Speaker 6: I got to know the taxes and the legal I

1099
00:51:36,400 --> 00:51:38,520
Speaker 6: got to know all these sec rules and regulations and

1100
00:51:38,520 --> 00:51:40,359
Speaker 6: all these things that most people never think about. They

1101
00:51:40,400 --> 00:51:43,000
Speaker 6: just go get money from some investor and they'll realize

1102
00:51:43,560 --> 00:51:48,520
Speaker 6: they're screwed up or what they own. So this raise

1103
00:51:48,640 --> 00:51:50,839
Speaker 6: is also going to help us actually attract more talent.

1104
00:51:50,920 --> 00:51:52,719
Speaker 6: I think, you know, we need we need to be

1105
00:51:52,719 --> 00:51:54,880
Speaker 6: able to hire people that are worth two hundred and

1106
00:51:54,880 --> 00:51:56,960
Speaker 6: fifty thousand dollars a year of salary, Like we need

1107
00:51:57,000 --> 00:51:58,400
Speaker 6: to be able to hire people that. We need to

1108
00:51:58,400 --> 00:52:02,400
Speaker 6: be able to hire people that really no marketing and

1109
00:52:02,440 --> 00:52:07,000
Speaker 6: no advertising and no different forms of development.

1110
00:52:07,040 --> 00:52:08,319
Speaker 1: You know what I'm saying. It's not like, you know,

1111
00:52:08,400 --> 00:52:10,160
Speaker 1: we I think the team can build anything.

1112
00:52:10,200 --> 00:52:12,120
Speaker 6: But it doesn't hurt to be able to say, oh,

1113
00:52:12,239 --> 00:52:14,920
Speaker 6: you're the guy that builds algorithms on TikTok or used

1114
00:52:14,920 --> 00:52:17,000
Speaker 6: to work there, Yeah, come over here and build ours,

1115
00:52:17,040 --> 00:52:19,000
Speaker 6: you know, and we can we'll be able to actually

1116
00:52:19,040 --> 00:52:22,040
Speaker 6: get talent that competes in all these other companies to

1117
00:52:22,040 --> 00:52:23,680
Speaker 6: be able to do that, And that's the most important thing.

1118
00:52:23,680 --> 00:52:25,279
Speaker 1: I think people know. We always say I always say

1119
00:52:25,280 --> 00:52:26,600
Speaker 1: people you know, they.

1120
00:52:26,560 --> 00:52:28,600
Speaker 6: Say, well do you have you know, well what about

1121
00:52:28,640 --> 00:52:31,000
Speaker 6: the algorithm or what about And I'm like, yo, like

1122
00:52:31,360 --> 00:52:34,520
Speaker 6: you don't understand how much all this costs so and

1123
00:52:34,640 --> 00:52:35,399
Speaker 6: able to do that.

1124
00:52:35,560 --> 00:52:35,800
Speaker 1: I'm not.

1125
00:52:36,239 --> 00:52:38,040
Speaker 6: I'm not some guy that can go get forty five

1126
00:52:38,040 --> 00:52:41,879
Speaker 6: million bucks and buy Ferrari and say I'm a tech

1127
00:52:41,960 --> 00:52:45,759
Speaker 6: founder and not do anything with it. Like I would

1128
00:52:45,800 --> 00:52:51,000
Speaker 6: spend that money very meticulously. And I again, I know

1129
00:52:51,200 --> 00:52:57,160
Speaker 6: I being in Atlanta also stretches our paper crazy because

1130
00:52:57,480 --> 00:53:00,000
Speaker 6: we're not in San Francisco, where you know, you got

1131
00:53:00,120 --> 00:53:02,279
Speaker 6: to pay people two hundred fifty thousand dollar salaries just

1132
00:53:02,280 --> 00:53:04,719
Speaker 6: a walking there. The real estate so crazy expensive, and

1133
00:53:04,800 --> 00:53:07,279
Speaker 6: I'm isolated. I like the fact that I'm here. I

1134
00:53:07,320 --> 00:53:10,319
Speaker 6: like that I'm underestimated. So I get to build a

1135
00:53:10,360 --> 00:53:13,120
Speaker 6: team that that no one thinks is you know, is

1136
00:53:13,160 --> 00:53:15,279
Speaker 6: going to do that. But they have to respect the technology.

1137
00:53:15,320 --> 00:53:17,920
Speaker 6: There's nobody that there's nobody even when I even when

1138
00:53:17,920 --> 00:53:19,800
Speaker 6: I caught off, even when I got off the phone

1139
00:53:20,239 --> 00:53:23,719
Speaker 6: with Chamelionaire, he was like, and I gave him some

1140
00:53:23,760 --> 00:53:25,319
Speaker 6: of the things, the other things that we're working on

1141
00:53:25,400 --> 00:53:28,319
Speaker 6: behind the scenes. He goes, He goes, this doesn't look

1142
00:53:28,360 --> 00:53:29,880
Speaker 6: like you've raised ten million dollars. You know, this is

1143
00:53:29,880 --> 00:53:32,800
Speaker 6: like you raised forty I said, I know. I said,

1144
00:53:32,920 --> 00:53:34,839
Speaker 6: that's why I like, don't get I said, you gave

1145
00:53:34,880 --> 00:53:36,360
Speaker 6: me forty million dollars. You know what I would do

1146
00:53:36,400 --> 00:53:40,000
Speaker 6: with forty million dollars, man, I wouldn't. There's nothing you know,

1147
00:53:40,120 --> 00:53:43,680
Speaker 6: I'm not. I'm so I'm so serious about this, And

1148
00:53:43,760 --> 00:53:47,960
Speaker 6: my tongue doesn't change, my energy doesn't change, my commitment

1149
00:53:48,000 --> 00:53:48,960
Speaker 6: to this doesn't change.

1150
00:53:49,400 --> 00:53:52,520
Speaker 1: I really love this, So I don't mind missing out

1151
00:53:52,560 --> 00:53:55,360
Speaker 1: on going to all the cool stuff.

1152
00:53:56,960 --> 00:54:00,399
Speaker 6: This is what I do every day all day because

1153
00:54:00,440 --> 00:54:03,759
Speaker 6: I know how important it is for the opportunity for

1154
00:54:03,840 --> 00:54:06,799
Speaker 6: us to put ourselves in position with generational wealth and monoculization.

1155
00:54:06,960 --> 00:54:08,680
Speaker 1: So I take it super serious.

1156
00:54:09,120 --> 00:54:12,960
Speaker 7: So like for social media, you know, engagement, that's like

1157
00:54:13,000 --> 00:54:15,480
Speaker 7: a big thing as far as you know, driving and

1158
00:54:15,560 --> 00:54:16,960
Speaker 7: putting you in the algorithm.

1159
00:54:17,320 --> 00:54:23,359
Speaker 1: So just social media landscape, talk about engagement, like where

1160
00:54:23,360 --> 00:54:26,480
Speaker 1: did that even come from? How is that game rigged?

1161
00:54:27,400 --> 00:54:30,719
Speaker 1: How the whole engagement play and then how does your

1162
00:54:30,800 --> 00:54:33,759
Speaker 1: platform relate to that when it comes to engagement.

1163
00:54:34,280 --> 00:54:39,800
Speaker 6: So so typically so social media was really based off following, right, followers.

1164
00:54:39,800 --> 00:54:41,960
Speaker 6: When you think of my space, you think of Facebook

1165
00:54:42,560 --> 00:54:45,279
Speaker 6: or friends, you know, stuff like that. And that was

1166
00:54:45,320 --> 00:54:48,120
Speaker 6: when we were in a time where social media was

1167
00:54:48,120 --> 00:54:51,520
Speaker 6: so much more personal. And I think we're forgetting that

1168
00:54:51,880 --> 00:54:54,200
Speaker 6: this is a young person's game. And so I was

1169
00:54:54,280 --> 00:54:56,239
Speaker 6: laughing the other day. I was like, honestly, I was

1170
00:54:56,239 --> 00:54:58,600
Speaker 6: talking about we were talking about freaking it and how

1171
00:54:58,760 --> 00:55:01,640
Speaker 6: like for the generation of people that got on Facebook

1172
00:55:02,000 --> 00:55:04,520
Speaker 6: in two thousand and four, Facebook turns twenty this year, right,

1173
00:55:04,960 --> 00:55:08,399
Speaker 6: So when people got on Facebook in two thousand and four,

1174
00:55:08,520 --> 00:55:11,279
Speaker 6: it's probably the first place where you can digitally say

1175
00:55:11,280 --> 00:55:13,799
Speaker 6: in your photos. So for anybody on Facebook from two

1176
00:55:13,800 --> 00:55:15,400
Speaker 6: thousand and nine to two thousand and ten, it's basically

1177
00:55:15,400 --> 00:55:17,520
Speaker 6: a photo album for you. Now it's like where your

1178
00:55:17,560 --> 00:55:20,279
Speaker 6: oldest girlfriends are, all the stuff you did.

1179
00:55:20,160 --> 00:55:21,719
Speaker 1: In college, all that kind of stuff is there.

1180
00:55:22,000 --> 00:55:24,759
Speaker 6: And there wasn't so much about engagement as we moved

1181
00:55:24,760 --> 00:55:28,800
Speaker 6: into the as video entered into social media, it's views, right,

1182
00:55:28,920 --> 00:55:33,080
Speaker 6: it's in those views scale you're following. But what happens

1183
00:55:33,120 --> 00:55:36,759
Speaker 6: with advertising is that now that you add video to

1184
00:55:36,800 --> 00:55:40,040
Speaker 6: social media. And again I'm saying the quiet part out loud.

1185
00:55:40,400 --> 00:55:43,319
Speaker 6: It's just simply think of this. Every single person that's

1186
00:55:43,360 --> 00:55:45,800
Speaker 6: on social media that can put video on their page.

1187
00:55:45,880 --> 00:55:47,200
Speaker 1: You are a television network.

1188
00:55:47,400 --> 00:55:51,040
Speaker 6: So for that very reason, however you measure or monetize

1189
00:55:51,080 --> 00:55:54,759
Speaker 6: advertising with television, you can monitor and measure advertising on

1190
00:55:54,800 --> 00:55:57,560
Speaker 6: social media. So if you have seventeen or eighteen million

1191
00:55:57,600 --> 00:56:00,680
Speaker 6: followers on social media right now, you have the monetary

1192
00:56:00,680 --> 00:56:04,520
Speaker 6: equivalent of Sunday Night Football on NBC, you have that visibility.

1193
00:56:04,719 --> 00:56:07,560
Speaker 6: If you got one hundred million followers, right, you have,

1194
00:56:08,680 --> 00:56:11,640
Speaker 6: you have the advertising equivalent of the Super Bowl. Right

1195
00:56:12,160 --> 00:56:16,359
Speaker 6: So Facebook knows that and the advertisers know that, and

1196
00:56:16,400 --> 00:56:19,160
Speaker 6: so if there was no there was no limit on engagement,

1197
00:56:19,840 --> 00:56:22,680
Speaker 6: then they would bypass these companies and come directly to

1198
00:56:22,719 --> 00:56:24,360
Speaker 6: people to say, hey.

1199
00:56:24,560 --> 00:56:27,919
Speaker 1: Why you're doing this thing you're doing on your page

1200
00:56:28,000 --> 00:56:30,360
Speaker 1: whatever it is, and one hundred million people can see you.

1201
00:56:30,400 --> 00:56:31,640
Speaker 1: We're seventeen million people who.

1202
00:56:31,520 --> 00:56:33,759
Speaker 6: Do that, hold this can for us and say hey,

1203
00:56:33,800 --> 00:56:37,400
Speaker 6: by the way, go buy this. And that's advertising to

1204
00:56:37,440 --> 00:56:41,200
Speaker 6: seventeen million people. And the difference is these programs come

1205
00:56:41,239 --> 00:56:44,960
Speaker 6: on one time a week, once a year, right, but

1206
00:56:45,000 --> 00:56:47,640
Speaker 6: imagine being able to reach seventeen million people twenty four

1207
00:56:47,640 --> 00:56:50,360
Speaker 6: hours a day, seven days a week. That's the quiet

1208
00:56:50,400 --> 00:56:51,960
Speaker 6: part out now that I al was saying, people are

1209
00:56:52,120 --> 00:56:55,840
Speaker 6: putting that portion together. It's like we're all moving. Social

1210
00:56:55,840 --> 00:56:58,840
Speaker 6: media is television now, we are. Our behaviors changed. So

1211
00:56:58,880 --> 00:57:03,359
Speaker 6: with fan base, I want to say, following is dead,

1212
00:57:03,880 --> 00:57:07,759
Speaker 6: engagement is the new is the new King of the hill, right,

1213
00:57:07,800 --> 00:57:10,359
Speaker 6: it's the people want to be seen, and so.

1214
00:57:10,680 --> 00:57:11,560
Speaker 1: I would I would.

1215
00:57:11,760 --> 00:57:14,160
Speaker 6: I would much rather have a million people see my

1216
00:57:14,280 --> 00:57:17,920
Speaker 6: video and have ten thousand followers, and have a million

1217
00:57:17,960 --> 00:57:20,120
Speaker 6: followers that have ten thousand people see my video, which

1218
00:57:20,160 --> 00:57:22,720
Speaker 6: is happening now, which more people are like Yo, I

1219
00:57:22,720 --> 00:57:24,960
Speaker 6: got fifteen million followers, and every time I supposed a video,

1220
00:57:25,000 --> 00:57:27,360
Speaker 6: I get eighty six thousand views. I'll want to foot it.

1221
00:57:27,800 --> 00:57:29,480
Speaker 6: You know what I'm saying. I want people to have

1222
00:57:29,920 --> 00:57:32,280
Speaker 6: one point five million, one point five million views and

1223
00:57:32,320 --> 00:57:35,080
Speaker 6: have eighty six thousand followers, because I'm not showing We

1224
00:57:35,120 --> 00:57:37,560
Speaker 6: don't show people content based on who follows you. We

1225
00:57:37,680 --> 00:57:40,480
Speaker 6: show content based on the things that you like, plus

1226
00:57:40,520 --> 00:57:42,880
Speaker 6: and follows you. So your following is already gained.

1227
00:57:42,920 --> 00:57:45,520
Speaker 7: Isn't that already how social media works. No, it's based

1228
00:57:45,560 --> 00:57:49,320
Speaker 7: off off of what they think you would interact with.

1229
00:57:49,880 --> 00:57:52,040
Speaker 1: But no, but it's it is. It's based off it's

1230
00:57:52,080 --> 00:57:55,600
Speaker 1: based off the algorithm. And yet with the algorithm thinks

1231
00:57:55,640 --> 00:57:56,560
Speaker 1: that you're gonna interact with it.

1232
00:57:56,680 --> 00:58:00,880
Speaker 6: Absolutely, but again it's still limited, like just by default.

1233
00:58:00,880 --> 00:58:03,200
Speaker 6: Anybody watching this program right now, right, anybody watching this

1234
00:58:03,200 --> 00:58:06,120
Speaker 6: program right now, go to your page and when you

1235
00:58:06,160 --> 00:58:10,440
Speaker 6: look at tap of somebody's profile on Instagram and say

1236
00:58:10,520 --> 00:58:13,000
Speaker 6: in notifications, when you want to see lives and see

1237
00:58:13,000 --> 00:58:14,360
Speaker 6: what it's saying, they'll say if you want to get

1238
00:58:14,400 --> 00:58:16,480
Speaker 6: notified some of the time, all.

1239
00:58:16,440 --> 00:58:19,000
Speaker 1: The time, or never, it's already set the sum.

1240
00:58:19,200 --> 00:58:21,400
Speaker 6: So that mean every time somebody you follow goes live,

1241
00:58:21,640 --> 00:58:25,280
Speaker 6: they're not notifying everybody that goes live by default. They're

1242
00:58:25,280 --> 00:58:29,000
Speaker 6: suppressing your content by default because again they have to

1243
00:58:29,080 --> 00:58:33,120
Speaker 6: limit your visibility. These platforms are in competition with users.

1244
00:58:33,200 --> 00:58:35,440
Speaker 6: They can't let you. You can go to look at

1245
00:58:35,440 --> 00:58:38,040
Speaker 6: anybody's you can go look at anybody's reals videos, go

1246
00:58:38,160 --> 00:58:41,000
Speaker 6: look at somebody who you follows following versus the amount

1247
00:58:41,040 --> 00:58:43,640
Speaker 6: of people that see their content. Now, granted, everybody's not

1248
00:58:43,720 --> 00:58:45,240
Speaker 6: on social media at twenty four hours a day, seven

1249
00:58:45,280 --> 00:58:47,200
Speaker 6: days a week. But still over the course of a month,

1250
00:58:47,440 --> 00:58:49,400
Speaker 6: if I have one point five million follows, people are

1251
00:58:49,400 --> 00:58:51,520
Speaker 6: tapping in. Even if I have you know, I get

1252
00:58:51,520 --> 00:58:54,360
Speaker 6: seven hundred and fifty thousand views or whatever based off that,

1253
00:58:54,440 --> 00:58:56,880
Speaker 6: but you're not seeing that. You're seeing people like Cardi

1254
00:58:56,960 --> 00:58:59,480
Speaker 6: b with one hundred plus million followers.

1255
00:58:59,080 --> 00:59:01,480
Speaker 1: Get two million, million, six million views.

1256
00:59:01,720 --> 00:59:04,160
Speaker 6: So you already know the people that want to see

1257
00:59:04,160 --> 00:59:07,800
Speaker 6: her content aren't seeing her content because that's her. Imagine

1258
00:59:07,800 --> 00:59:09,240
Speaker 6: being able to reach a hundred million people saying and

1259
00:59:09,280 --> 00:59:10,720
Speaker 6: go buy my album and go buy my solid.

1260
00:59:11,040 --> 00:59:12,440
Speaker 1: That's see, that's the future.

1261
00:59:12,600 --> 00:59:16,120
Speaker 6: The problem is the albatross of advertising that TikTok and

1262
00:59:16,160 --> 00:59:18,720
Speaker 6: Instagram are tied into. They just can't turn off the

1263
00:59:18,760 --> 00:59:22,760
Speaker 6: advertising switch and go to the monetization switch because ninety

1264
00:59:22,760 --> 00:59:26,440
Speaker 6: five percent of the income that is made of Facebook

1265
00:59:26,680 --> 00:59:30,280
Speaker 6: comes from advertising. TikTok enormous amount of money that TikTok

1266
00:59:30,320 --> 00:59:32,560
Speaker 6: made some advertising, so they're still going to have to

1267
00:59:32,600 --> 00:59:36,080
Speaker 6: play that game, right, there is no game when it's like, okay.

1268
00:59:36,120 --> 00:59:37,640
Speaker 1: We work off a rev share model.

1269
00:59:38,000 --> 00:59:41,760
Speaker 6: You have a following, you monetize a certain percentage of

1270
00:59:41,760 --> 00:59:44,520
Speaker 6: those subscribers, we get a percentage of that revenue. Now

1271
00:59:44,560 --> 00:59:47,080
Speaker 6: take that and multiply that times not one hundred million people,

1272
00:59:47,320 --> 00:59:50,120
Speaker 6: but five hundred million people or a billion people. And

1273
00:59:50,200 --> 00:59:52,360
Speaker 6: then now you say, okay, you got a trillion dollar company.

1274
00:59:52,800 --> 00:59:56,080
Speaker 8: So in terms of importance and metrics, you said that

1275
00:59:56,200 --> 00:59:57,919
Speaker 8: engagement probably never one off as mine.

1276
00:59:57,960 --> 01:00:00,920
Speaker 1: Sir. Yeah, yeah, I mean I think aagement is definitely

1277
01:00:00,920 --> 01:00:02,760
Speaker 1: what it's what it's what users want. I want to

1278
01:00:02,800 --> 01:00:05,040
Speaker 1: free that because that's what people want to experience.

1279
01:00:05,040 --> 01:00:08,080
Speaker 8: So like on Instagram there is impressed, and even on

1280
01:00:08,120 --> 01:00:10,760
Speaker 8: YouTube to a certain staid, there's impression as is reached.

1281
01:00:11,240 --> 01:00:15,080
Speaker 1: How do those metrics go inside? How do they work

1282
01:00:15,080 --> 01:00:16,080
Speaker 1: inside of fan base? Right?

1283
01:00:16,080 --> 01:00:19,120
Speaker 8: Are those equally as important or is it just its engagement?

1284
01:00:19,200 --> 01:00:21,040
Speaker 8: It's huge, it's it's sore.

1285
01:00:21,520 --> 01:00:24,000
Speaker 1: When so again, when you're talking about impressions, that that's

1286
01:00:24,040 --> 01:00:30,080
Speaker 1: another way that you actually calculate, like CPM and like

1287
01:00:30,120 --> 01:00:32,640
Speaker 1: the costs of in average, like all those things are done. See,

1288
01:00:32,680 --> 01:00:36,280
Speaker 1: all those metrics are based off how you advertise. If

1289
01:00:36,280 --> 01:00:39,360
Speaker 1: advertising is not the language that you're speaking, then you're

1290
01:00:39,360 --> 01:00:44,120
Speaker 1: not even we're gonna, we're gonna, we're gonna monetor and

1291
01:00:44,240 --> 01:00:46,520
Speaker 1: see all of that data. So because I would never

1292
01:00:46,560 --> 01:00:48,960
Speaker 1: say never for advertising even I'll say this right now,

1293
01:00:48,960 --> 01:00:50,560
Speaker 1: I would never say that fan base is never going

1294
01:00:50,600 --> 01:00:53,280
Speaker 1: to be a platform that that has advertising. If we do,

1295
01:00:53,360 --> 01:00:54,840
Speaker 1: I'm going to find it in a way that doesn't

1296
01:00:54,840 --> 01:00:57,320
Speaker 1: interrupt the user experience. That's all I care about.

1297
01:00:57,320 --> 01:01:00,960
Speaker 6: I don't want to interrupt someone being Again, I get

1298
01:01:00,960 --> 01:01:05,040
Speaker 6: tagged in ten posts a day of some creators saying, man,

1299
01:01:05,400 --> 01:01:08,960
Speaker 6: I'm about to leave because I post all this content

1300
01:01:09,240 --> 01:01:11,320
Speaker 6: and nothing ever gets seen this. And this is before

1301
01:01:11,320 --> 01:01:13,120
Speaker 6: they even got to the fact that their content, that

1302
01:01:13,160 --> 01:01:15,680
Speaker 6: people's content has value. This before they even made a dollar.

1303
01:01:15,880 --> 01:01:17,680
Speaker 6: You got people wanted to play social media because they're

1304
01:01:17,680 --> 01:01:20,640
Speaker 6: not getting enough views. Forget about I gotta take now.

1305
01:01:20,680 --> 01:01:23,120
Speaker 6: I gotta take these views to get to the money.

1306
01:01:23,160 --> 01:01:25,480
Speaker 6: I'm saying, skip that whole little cat and mouse game

1307
01:01:25,880 --> 01:01:28,400
Speaker 6: and just go now. Now, this is this is the

1308
01:01:28,480 --> 01:01:31,200
Speaker 6: question that I asked when we on board creators. We

1309
01:01:31,280 --> 01:01:34,360
Speaker 6: have creators come to the platform, they have large followings,

1310
01:01:34,400 --> 01:01:36,160
Speaker 6: and I said, Okay, I gotta ask you. I said,

1311
01:01:36,320 --> 01:01:37,960
Speaker 6: I'm gonna ask you a question. Do you want to

1312
01:01:38,000 --> 01:01:40,240
Speaker 6: be rich, you wanna be famous, or you want to

1313
01:01:40,280 --> 01:01:40,600
Speaker 6: be both?

1314
01:01:41,280 --> 01:01:45,280
Speaker 1: Right? If you want to be famous, stay overrow on Instagram.

1315
01:01:45,400 --> 01:01:46,000
Speaker 1: You know what I'm saying.

1316
01:01:46,920 --> 01:01:49,720
Speaker 6: If you want to be rich, then start charging for

1317
01:01:49,760 --> 01:01:52,680
Speaker 6: your content the moment that you created, like create an

1318
01:01:52,720 --> 01:01:57,520
Speaker 6: exclusive paywall, don't If you want to be both, fab

1319
01:01:57,640 --> 01:02:00,400
Speaker 6: is probably where you want to be because there's no

1320
01:02:00,600 --> 01:02:03,080
Speaker 6: there's no limit to the amount of of reach you're

1321
01:02:03,080 --> 01:02:04,640
Speaker 6: going to be able to have and there's no limits

1322
01:02:04,640 --> 01:02:06,160
Speaker 6: to the amount of monetization that you're going to be

1323
01:02:06,200 --> 01:02:06,640
Speaker 6: able to make.

1324
01:02:07,280 --> 01:02:09,080
Speaker 1: How many users do you have right now? Five hundred

1325
01:02:09,080 --> 01:02:10,920
Speaker 1: and ninety five thousand, So how many users do you

1326
01:02:11,000 --> 01:02:12,920
Speaker 1: need to play Unicorn status?

1327
01:02:14,080 --> 01:02:17,400
Speaker 6: It depends on the speed. So if I lo from five,

1328
01:02:17,520 --> 01:02:19,840
Speaker 6: so so i'll give I'll give you privately. Example, when

1329
01:02:20,640 --> 01:02:23,480
Speaker 6: in the pandemic and it's still it's still a rare thing,

1330
01:02:23,520 --> 01:02:25,520
Speaker 6: will in clubhouse in about four or five months, they

1331
01:02:25,520 --> 01:02:28,480
Speaker 6: went from five thousand users to a million users in

1332
01:02:28,520 --> 01:02:29,840
Speaker 6: like five or six months.

1333
01:02:30,360 --> 01:02:32,040
Speaker 1: They that's when they went out and raise one hundred

1334
01:02:32,040 --> 01:02:34,360
Speaker 1: million out of billion out of evaluation because then because

1335
01:02:34,360 --> 01:02:36,200
Speaker 1: they got to a million users in like five or

1336
01:02:36,200 --> 01:02:40,120
Speaker 1: six months, So that velocity creating that you know, and

1337
01:02:40,160 --> 01:02:43,080
Speaker 1: then it's also what people are actually then here's another

1338
01:02:43,120 --> 01:02:47,000
Speaker 1: thing is also what what the market is willing to pay, right,

1339
01:02:47,040 --> 01:02:49,400
Speaker 1: So it's also what institutional investors are willing to pay.

1340
01:02:49,680 --> 01:02:51,720
Speaker 6: If there's full of all that happens, right, and again,

1341
01:02:51,800 --> 01:02:54,560
Speaker 6: it's beat them until it's join them. So when so

1342
01:02:54,600 --> 01:02:59,439
Speaker 6: when institutional investors give fom like, okay, this trains left

1343
01:02:59,440 --> 01:03:01,800
Speaker 6: the station. We better get on board before we get

1344
01:03:01,880 --> 01:03:05,320
Speaker 6: left behind. Then they set your valuation, so there's no

1345
01:03:05,360 --> 01:03:08,880
Speaker 6: difference between. But there's no different between fan base and

1346
01:03:09,000 --> 01:03:11,480
Speaker 6: clubhouse that was styled of with institutional capital. There's a

1347
01:03:11,480 --> 01:03:14,680
Speaker 6: company that says we're giving you money, that we're giving

1348
01:03:14,680 --> 01:03:16,440
Speaker 6: you one hundred million dollars to say that your company's

1349
01:03:16,440 --> 01:03:18,080
Speaker 6: worth a billion dollars. Then they went on to raise

1350
01:03:18,120 --> 01:03:21,240
Speaker 6: another two hundred million at a four billion dollar evaluation.

1351
01:03:21,680 --> 01:03:24,959
Speaker 6: That is incredible to me. And they still not figured

1352
01:03:24,960 --> 01:03:28,160
Speaker 6: out how to monetize over there. So again I'm thinking like, okay, cool.

1353
01:03:28,200 --> 01:03:31,200
Speaker 6: So it's a velocity in which you get there. So again,

1354
01:03:31,200 --> 01:03:33,439
Speaker 6: our goals is to get to a million users by

1355
01:03:33,480 --> 01:03:35,960
Speaker 6: the end of twenty twenty four. We can get there faster,

1356
01:03:36,120 --> 01:03:38,240
Speaker 6: we get maybe we get to two three million users.

1357
01:03:38,480 --> 01:03:44,160
Speaker 6: That changes because now just by numbers alone, there's a monetary.

1358
01:03:43,760 --> 01:03:45,760
Speaker 1: Value that if we wanted to go to advertising route,

1359
01:03:45,760 --> 01:03:47,560
Speaker 1: there's a value that fan Base has just based off

1360
01:03:47,560 --> 01:03:51,320
Speaker 1: the users. So how are you tracking success at fan

1361
01:03:51,440 --> 01:03:51,880
Speaker 1: base right?

1362
01:03:51,880 --> 01:03:54,200
Speaker 8: Because I know when we watch the reports that comes

1363
01:03:54,200 --> 01:03:57,080
Speaker 8: from Meta, the number one message they're looking at is

1364
01:03:57,680 --> 01:04:02,400
Speaker 8: monthly users. They're watching daily average Dailly users. If that

1365
01:04:02,520 --> 01:04:04,680
Speaker 8: number it doesn't come in as expected, we want to

1366
01:04:04,680 --> 01:04:07,360
Speaker 8: see a pullback. Right, How would you what metric are

1367
01:04:07,400 --> 01:04:09,840
Speaker 8: you guys using to measure success? I guess on a

1368
01:04:09,920 --> 01:04:11,880
Speaker 8: daily is it Is it the same process for you?

1369
01:04:12,200 --> 01:04:15,200
Speaker 1: It's it's it's m au it's.

1370
01:04:16,760 --> 01:04:19,880
Speaker 6: But it's also our ability to kind of like fine

1371
01:04:19,960 --> 01:04:23,200
Speaker 6: tune our model. Like this model of monetization that I

1372
01:04:23,200 --> 01:04:28,720
Speaker 6: think is is so new that people don't understand that

1373
01:04:28,800 --> 01:04:32,200
Speaker 6: it's available for anybody to use. But I measure our

1374
01:04:32,240 --> 01:04:36,480
Speaker 6: success on our ability to build our products, remain well

1375
01:04:36,560 --> 01:04:39,320
Speaker 6: within our budget and just continue to grow. Because once

1376
01:04:39,360 --> 01:04:41,560
Speaker 6: you start building a community, and somebody that I even

1377
01:04:41,800 --> 01:04:44,840
Speaker 6: I was always afraid about this and never really thought

1378
01:04:44,840 --> 01:04:46,439
Speaker 6: about it like this, But once you start to build

1379
01:04:46,440 --> 01:04:48,400
Speaker 6: a community, you don't stop. Your community is going to

1380
01:04:48,440 --> 01:04:51,560
Speaker 6: continue to grow as long as like even at the

1381
01:04:51,600 --> 01:04:54,680
Speaker 6: page that fan base is like, right now, we're growing,

1382
01:04:54,840 --> 01:04:56,840
Speaker 6: and then we have we have spurts, we have people

1383
01:04:56,880 --> 01:04:59,720
Speaker 6: come on and maybe we might get twenty five thousand

1384
01:04:59,760 --> 01:05:01,920
Speaker 6: years out of nowhere because somebody makes a mistake or

1385
01:05:02,160 --> 01:05:04,560
Speaker 6: I don't know what happens if TikTok goes away, you

1386
01:05:04,560 --> 01:05:06,560
Speaker 6: know what I'm saying. That's the reason why like this,

1387
01:05:06,800 --> 01:05:08,840
Speaker 6: some of this functionality that we created is like, all right, cool,

1388
01:05:08,880 --> 01:05:11,640
Speaker 6: well let's make sure we're prepared. We got the arc

1389
01:05:11,680 --> 01:05:13,440
Speaker 6: ready for the TikTok wave if they have to come

1390
01:05:13,440 --> 01:05:15,520
Speaker 6: over here while they figure out what's going on over there.

1391
01:05:16,400 --> 01:05:18,760
Speaker 1: So I measure our success by our ability to.

1392
01:05:20,680 --> 01:05:25,560
Speaker 6: Effectively execute our revenue model and then continue to keep

1393
01:05:25,600 --> 01:05:27,919
Speaker 6: people on the platform. Now, one thing I say about

1394
01:05:27,920 --> 01:05:30,200
Speaker 6: fan base, because we do have audio that makes us

1395
01:05:30,200 --> 01:05:33,560
Speaker 6: a little bit unique is that audio and I talk

1396
01:05:33,600 --> 01:05:36,680
Speaker 6: about the audio creator space, and I think that's something

1397
01:05:36,720 --> 01:05:39,000
Speaker 6: that people are missing out on, and I think people

1398
01:05:39,080 --> 01:05:42,400
Speaker 6: want to tap into more because it only requires one

1399
01:05:42,400 --> 01:05:45,520
Speaker 6: of your senses. Things that require less of your attention

1400
01:05:46,040 --> 01:05:48,240
Speaker 6: but still can keep you engaged. You're also things that

1401
01:05:48,280 --> 01:05:50,120
Speaker 6: I think that's why I think podcasts are so good.

1402
01:05:50,160 --> 01:05:50,640
Speaker 1: You know what I'm saying.

1403
01:05:50,640 --> 01:05:52,760
Speaker 6: I think audiobooks are so good because like I can

1404
01:05:52,840 --> 01:05:54,800
Speaker 6: drive and listen to an audiobook or stuff like that.

1405
01:05:55,160 --> 01:05:57,360
Speaker 6: So I measured that also by retention. So people are

1406
01:05:57,360 --> 01:06:00,760
Speaker 6: spending forty five minutes. At one point, people were spending

1407
01:06:00,800 --> 01:06:02,400
Speaker 6: like an hour and a half a day off ABI

1408
01:06:02,840 --> 01:06:04,560
Speaker 6: And I mean you go, you'll go to websites and

1409
01:06:04,640 --> 01:06:05,760
Speaker 6: you'll go to current websites.

1410
01:06:05,760 --> 01:06:07,880
Speaker 1: And people who spend in four minutes on Nike, you

1411
01:06:07,920 --> 01:06:11,400
Speaker 1: dot com, like you know, four minutes on TMZ, seven

1412
01:06:11,440 --> 01:06:12,960
Speaker 1: minutes looking at the articles or whatever. When you can

1413
01:06:13,000 --> 01:06:15,400
Speaker 1: hold when you can keep again for advertising, When I

1414
01:06:15,400 --> 01:06:17,120
Speaker 1: can keep you on the platform for hour and a

1415
01:06:17,120 --> 01:06:20,160
Speaker 1: half forty five minutes a day, we're up there with you.

1416
01:06:20,280 --> 01:06:23,800
Speaker 1: That's that's YouTube stickiness. It's watched on Yeah.

1417
01:06:24,000 --> 01:06:26,960
Speaker 7: So all right, my brother, I'm gonna let you close

1418
01:06:27,000 --> 01:06:32,040
Speaker 7: it out with this. What in ten years from now right?

1419
01:06:32,160 --> 01:06:32,400
Speaker 1: Yeah?

1420
01:06:33,320 --> 01:06:34,440
Speaker 5: Where do you see yourself?

1421
01:06:35,240 --> 01:06:36,600
Speaker 1: Where do you see fan base?

1422
01:06:37,160 --> 01:06:39,520
Speaker 5: And where do you see they create an economy?

1423
01:06:41,320 --> 01:06:45,480
Speaker 6: Okay, where I see Where do I see myself? I

1424
01:06:45,560 --> 01:06:52,000
Speaker 6: see myself probably if I'm going to be, if if

1425
01:06:52,040 --> 01:06:55,120
Speaker 6: I'm what I think about, how I speak about affirmative

1426
01:06:55,120 --> 01:06:59,840
Speaker 6: I see myself as a successful Uh, tech found of

1427
01:06:59,880 --> 01:07:05,360
Speaker 6: that has founded multiple startups, that owns some sports franchise

1428
01:07:06,080 --> 01:07:10,200
Speaker 6: that's in Atlanta that needs to win a championship. I

1429
01:07:10,200 --> 01:07:13,720
Speaker 6: don't know which, but we need, you know, the Hawks

1430
01:07:13,800 --> 01:07:14,960
Speaker 6: need to tie I like basketball.

1431
01:07:14,960 --> 01:07:15,840
Speaker 1: We need we need a chip.

1432
01:07:15,880 --> 01:07:18,360
Speaker 6: So I would say I see myself as a multi

1433
01:07:18,680 --> 01:07:22,360
Speaker 6: billionaire startup founder that owns the Atlanta Hawks, that will

1434
01:07:22,360 --> 01:07:24,240
Speaker 6: do whatever it takes to bring a chip to the city.

1435
01:07:25,000 --> 01:07:28,280
Speaker 6: I see fan Base as a multi billion dollar company

1436
01:07:30,440 --> 01:07:33,560
Speaker 6: just coming out of an acquisition or going public on

1437
01:07:33,600 --> 01:07:37,280
Speaker 6: the stock market and cashing out for all the investors.

1438
01:07:37,680 --> 01:07:40,000
Speaker 6: And I think the creator economy is going to be

1439
01:07:40,240 --> 01:07:43,400
Speaker 6: a trillion dollar business because I just I just I

1440
01:07:43,440 --> 01:07:47,880
Speaker 6: think that everything is going to go from the director person.

1441
01:07:47,920 --> 01:07:51,040
Speaker 6: I think there's nothing there's like, you know, like I

1442
01:07:51,080 --> 01:07:53,720
Speaker 6: saw Lee or Corn talk about talk today about how

1443
01:07:54,240 --> 01:07:58,400
Speaker 6: you know the the music the music. Music streaming is

1444
01:07:58,440 --> 01:08:02,280
Speaker 6: going to go from you know, six hundred million users

1445
01:08:02,640 --> 01:08:05,200
Speaker 6: to a billion users by twenty thirty, just in music

1446
01:08:05,200 --> 01:08:11,080
Speaker 6: streaming alone. So as we get younger and kids that

1447
01:08:11,320 --> 01:08:14,840
Speaker 6: are so used to living their lives in a digital

1448
01:08:14,880 --> 01:08:18,880
Speaker 6: space are going to do digital transactions. They're going to

1449
01:08:18,960 --> 01:08:23,080
Speaker 6: communicate virtually through the Internet. I just don't see a

1450
01:08:23,120 --> 01:08:29,320
Speaker 6: world where people are using credit cards to subscribe. I

1451
01:08:29,320 --> 01:08:31,639
Speaker 6: don't see I see a world where people are using

1452
01:08:32,400 --> 01:08:36,559
Speaker 6: their their apps to acquire content and things that they want,

1453
01:08:36,800 --> 01:08:39,160
Speaker 6: but in like such a fast pace and a real

1454
01:08:39,240 --> 01:08:42,720
Speaker 6: time that you know, there's no there's no limits to

1455
01:08:42,760 --> 01:08:44,880
Speaker 6: what people can do. I just it's pretty scary because

1456
01:08:44,880 --> 01:08:48,920
Speaker 6: again I just think about the opportunity that's there. But

1457
01:08:48,960 --> 01:08:52,240
Speaker 6: I but I'm optimistic about it because there's no there's

1458
01:08:52,280 --> 01:08:56,120
Speaker 6: no limits, Like there's nothing stopping anybody right now, like

1459
01:08:56,240 --> 01:08:59,320
Speaker 6: what with what what fan base is right now? There's

1460
01:08:59,360 --> 01:09:03,240
Speaker 6: nothing stopping anybody to say, cool, come here, hit this button,

1461
01:09:03,320 --> 01:09:06,280
Speaker 6: a screen pops up, hit subscribe and you get paid

1462
01:09:07,000 --> 01:09:09,320
Speaker 6: from anybody that can. That's in one hundred and ninety

1463
01:09:09,360 --> 01:09:12,519
Speaker 6: plus countries and territories. The fan bases in on Irish

1464
01:09:12,560 --> 01:09:16,280
Speaker 6: are Android and actually making money. That's scary because I

1465
01:09:16,280 --> 01:09:19,439
Speaker 6: don't When I I saw this thing on Nvidio on

1466
01:09:19,560 --> 01:09:22,479
Speaker 6: the jobs, the n video uh roll out with the

1467
01:09:22,560 --> 01:09:23,160
Speaker 6: robots and all.

1468
01:09:23,120 --> 01:09:26,240
Speaker 1: The chips and stuff they built with the black blob. Yeah, bro,

1469
01:09:26,520 --> 01:09:29,599
Speaker 1: I was saying, well there goes your job. He said something.

1470
01:09:29,640 --> 01:09:33,000
Speaker 6: I was like, that's they are them jobs is gone,

1471
01:09:33,280 --> 01:09:34,000
Speaker 6: he said, I can't.

1472
01:09:34,120 --> 01:09:35,439
Speaker 1: He said something that the chip does.

1473
01:09:35,520 --> 01:09:38,559
Speaker 6: I was like, Oh, they that whole that whole sector

1474
01:09:38,640 --> 01:09:42,519
Speaker 6: is gone like it like like complete sectors of the

1475
01:09:42,520 --> 01:09:45,120
Speaker 6: industry that are wiped out. And we're seeing we're already

1476
01:09:45,120 --> 01:09:47,599
Speaker 6: getting we're seeing massive layoffs and all these tech companies

1477
01:09:47,600 --> 01:09:51,280
Speaker 6: already and the music business and TV and film like

1478
01:09:51,640 --> 01:09:53,679
Speaker 6: those three sectors they're laying.

1479
01:09:53,479 --> 01:09:54,360
Speaker 1: People off already.

1480
01:09:54,439 --> 01:09:57,880
Speaker 6: So ten years Oh yeah, hey, I gonna be if

1481
01:09:57,880 --> 01:10:01,120
Speaker 6: you know, if you don't have your own director consumer Clayton,

1482
01:10:02,280 --> 01:10:02,560
Speaker 6: I don't know.

1483
01:10:02,600 --> 01:10:03,760
Speaker 1: I don't know who will be working with who, I

1484
01:10:03,760 --> 01:10:04,240
Speaker 1: don't know what.

1485
01:10:04,479 --> 01:10:07,880
Speaker 6: But my suggestion is, as I always say, start monetizing

1486
01:10:07,920 --> 01:10:10,320
Speaker 6: your content in some way because at least you'll be

1487
01:10:10,360 --> 01:10:12,280
Speaker 6: ahead of the curve. I know people want to be famous,

1488
01:10:12,600 --> 01:10:14,800
Speaker 6: I know people want to be seen, but you also

1489
01:10:14,840 --> 01:10:16,840
Speaker 6: got to understand that all this energy that we put

1490
01:10:16,840 --> 01:10:18,880
Speaker 6: into the stuff that we do has value.

1491
01:10:19,120 --> 01:10:22,559
Speaker 1: Monetize it. And you can do that on fan base

1492
01:10:23,040 --> 01:10:25,080
Speaker 1: And so what's the website that what's that?

1493
01:10:25,720 --> 01:10:30,799
Speaker 6: Oh start engine dot com slash fan base to invest again.

1494
01:10:31,000 --> 01:10:33,600
Speaker 6: I'm going to tell you guys, like I don't this

1495
01:10:33,760 --> 01:10:37,680
Speaker 6: is probably one of the most pivotal times in technology and.

1496
01:10:38,120 --> 01:10:42,040
Speaker 1: Social media that I've ever seen.

1497
01:10:42,160 --> 01:10:47,160
Speaker 6: Because we're right here and I'm specifically speaking to black culture,

1498
01:10:47,280 --> 01:10:49,479
Speaker 6: right if I had that, you know, if I was

1499
01:10:49,520 --> 01:10:51,080
Speaker 6: like if I if I'm here and I'm having that

1500
01:10:51,120 --> 01:10:55,160
Speaker 6: conversation with black culture, I'm telling you that we you know,

1501
01:10:55,600 --> 01:10:59,320
Speaker 6: we make all these platforms have their value. Like we

1502
01:10:59,479 --> 01:11:03,920
Speaker 6: give these platforms the things that make them cool.

1503
01:11:04,000 --> 01:11:04,800
Speaker 1: If you listen to.

1504
01:11:04,960 --> 01:11:07,679
Speaker 6: You cannot market and promote anything as being cool without

1505
01:11:07,720 --> 01:11:08,960
Speaker 6: the assistance of black culture.

1506
01:11:09,240 --> 01:11:10,400
Speaker 1: So somebody wears it.

1507
01:11:10,680 --> 01:11:13,400
Speaker 6: If somebody does it, it becomes the thing that everybody

1508
01:11:13,400 --> 01:11:17,200
Speaker 6: wants and everybody buys. And there's a value to that

1509
01:11:17,200 --> 01:11:21,439
Speaker 6: that there's no infrastructure underneath it, there's no foundation as

1510
01:11:21,439 --> 01:11:24,280
Speaker 6: opposed to being the oil, which I always feel like

1511
01:11:24,320 --> 01:11:28,640
Speaker 6: Black culture has always been the oil to corporate America's infrastructure.

1512
01:11:29,040 --> 01:11:31,080
Speaker 6: So I was like, Okay, we're the record label, but

1513
01:11:31,520 --> 01:11:33,519
Speaker 6: you all the salts and all the dances and all that,

1514
01:11:33,600 --> 01:11:35,400
Speaker 6: y'all pump this through this, but we don't want y'all

1515
01:11:35,439 --> 01:11:38,400
Speaker 6: to own the well. And that's my whole thing is about,

1516
01:11:38,560 --> 01:11:42,120
Speaker 6: is like we have to own infrastructure. We're not building infrastructure.

1517
01:11:42,160 --> 01:11:44,439
Speaker 6: I think we're always going to be playing this game

1518
01:11:44,479 --> 01:11:46,800
Speaker 6: of where we want to be respected and we want

1519
01:11:46,840 --> 01:11:48,599
Speaker 6: our seat at the table and all that kind of stuff.

1520
01:11:48,600 --> 01:11:51,360
Speaker 6: And I'm like, yo, I'm I'm right along with Tyler Perry.

1521
01:11:51,400 --> 01:11:54,120
Speaker 6: I'm building my own tech table. I'm not trying to

1522
01:11:54,160 --> 01:11:57,360
Speaker 6: be out of San Francisco and I'm not trying to

1523
01:11:57,360 --> 01:11:58,960
Speaker 6: do any of that. I'm trying to give everybody an

1524
01:11:59,000 --> 01:12:03,200
Speaker 6: opportunity to own and be equitable and have that. So again,

1525
01:12:03,760 --> 01:12:05,880
Speaker 6: go to start engine dot com slash fan base to

1526
01:12:05,960 --> 01:12:08,680
Speaker 6: invest the minimum to invest it's three ninety nine.

1527
01:12:08,720 --> 01:12:11,280
Speaker 1: We're raising seventeen million. I say this number all the.

1528
01:12:11,240 --> 01:12:15,200
Speaker 6: Time because the average investment that we get that we

1529
01:12:15,360 --> 01:12:17,200
Speaker 6: that we've been getting in this race. We've already raised

1530
01:12:17,200 --> 01:12:19,600
Speaker 6: three hundred thousand. So we've already just started like a

1531
01:12:19,600 --> 01:12:21,160
Speaker 6: week week and a half ago. We've alread raised a

1532
01:12:21,200 --> 01:12:23,280
Speaker 6: right in one thousand. And what's more important about that

1533
01:12:23,400 --> 01:12:25,439
Speaker 6: is how fast we raise the capital. I don't doubt

1534
01:12:25,439 --> 01:12:27,519
Speaker 6: the ability that we'll raise seventeen million dollars, But is

1535
01:12:27,560 --> 01:12:29,559
Speaker 6: it gonna take me a year, or is it gonna

1536
01:12:29,560 --> 01:12:31,280
Speaker 6: take me two months, or it's gonna need two years.

1537
01:12:31,280 --> 01:12:33,160
Speaker 6: It's gonna take me you two months, if I raise

1538
01:12:33,280 --> 01:12:36,200
Speaker 6: money in two months, then we off to the races.

1539
01:12:36,200 --> 01:12:38,240
Speaker 6: And that's the velocity. So the opportunity to be able

1540
01:12:38,240 --> 01:12:42,080
Speaker 6: to do that, so you know, awning part of this

1541
01:12:42,280 --> 01:12:45,679
Speaker 6: going to start engine and then being able to scale

1542
01:12:45,760 --> 01:12:47,840
Speaker 6: this business and and and really take advantage of what's

1543
01:12:47,840 --> 01:12:48,160
Speaker 6: going on.

1544
01:12:48,240 --> 01:12:50,880
Speaker 1: We have we have to do this. I'm looking like, yo, if.

1545
01:12:50,840 --> 01:12:53,439
Speaker 6: We don't do this, don't blame me, because you know,

1546
01:12:53,720 --> 01:12:55,479
Speaker 6: I think we I think I've done more than enough

1547
01:12:55,520 --> 01:12:57,360
Speaker 6: to say that we can do it?

1548
01:12:58,439 --> 01:13:00,920
Speaker 1: Can you having my brother appreciation you as always? Thank

1549
01:13:00,960 --> 01:13:04,439
Speaker 1: you guy, may show that you download the fan base app. Yeah,

1550
01:13:04,479 --> 01:13:08,400
Speaker 1: Mari and Donald shout out in best bet ata all

1551
01:13:08,520 --> 01:13:11,400
Speaker 1: right for sure? Yeah sure yeah.

1552
01:13:11,439 --> 01:13:15,680
Speaker 3: Bob an illegal alien from Guatemala charged with raping a

1553
01:13:15,800 --> 01:13:19,280
Speaker 3: child in Massachusetts. An MS thirteen gang member from Al

1554
01:13:19,360 --> 01:13:24,200
Speaker 3: Salvador accused of murdering a Texas man of Venezuelan charged

1555
01:13:24,200 --> 01:13:28,120
Speaker 3: with filming and selling child pornography in Michigan. These are

1556
01:13:28,160 --> 01:13:31,680
Speaker 3: just some of the heinous migrant criminals caught because of

1557
01:13:31,680 --> 01:13:35,400
Speaker 3: President Donald J. Trump's leadership. I'm Christy nom, the United

1558
01:13:35,439 --> 01:13:40,160
Speaker 3: States Secretary of Homeland Security. Under President Trump. Attempted illegal

1559
01:13:40,200 --> 01:13:43,880
Speaker 3: border crossings are at the lowest levels ever recorded, and

1560
01:13:43,920 --> 01:13:47,280
Speaker 3: over one hundred thousand illegal aliens have been arrested. If

1561
01:13:47,280 --> 01:13:50,960
Speaker 3: you are here illegally, your next you will be fine

1562
01:13:51,000 --> 01:13:55,120
Speaker 3: nearly one thousand dollars a day, imprisoned, and deported. You

1563
01:13:55,200 --> 01:13:58,719
Speaker 3: will never return. But if you register using our CBP

1564
01:13:58,880 --> 01:14:01,519
Speaker 3: home app and leave now now, you could be allowed

1565
01:14:01,520 --> 01:14:06,479
Speaker 3: to return legally. Do what's right, leave now. Under President Trump,

1566
01:14:06,640 --> 01:14:09,800
Speaker 3: America's laws, border and families.

1567
01:14:09,400 --> 01:14:10,240
Speaker 1: Will be protected.

1568
01:14:10,320 --> 01:14:12,479
Speaker 4: Sponsored by the United States Department of Homeland Security,