WEBVTT - EYL #284 Can The Next Billion Dollar Social Media Platform Be Black Owned? 0:00:03.640 --> 0:00:07.640 Wait till I give my money. Attention Attention. 0:00:07.920 --> 0:00:11.000 Invest Fest twenty twenty four is coming back to Atlanta 0:00:11.039 --> 0:00:13.920 and we ad earn your leisure are doing a crazy promotion. 0:00:14.200 --> 0:00:17.759 For every item you purchase on investfestyl dot com will 0:00:17.800 --> 0:00:20.079 submit your name in a raffle to win an all 0:00:20.120 --> 0:00:24.320 inclusive experience to invest Fest twenty twenty four. You're automatically 0:00:24.440 --> 0:00:27.520 entered into the raffle to win this all inclusive experience. 0:00:27.600 --> 0:00:30.440 Here's what you'll win. Round trip airfare to Atlanta Fort 0:00:30.520 --> 0:00:33.440 SIU from Friday to Monday, or a one thousand dollars 0:00:33.479 --> 0:00:37.440 transportation and food stipend. 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Under President Trump, America's laws, 0:01:55.520 --> 0:01:57.520 border and families will. 0:01:57.360 --> 0:02:00.000 Be protected sponsored by the United States Department of Home Security. 0:02:00.640 --> 0:02:04.080 Isaac Hayes the third. But something, my brother, How you doing? 0:02:04.400 --> 0:02:07.600 Got you're doing? I'm doing? Next May this little bank pleasure? 0:02:07.600 --> 0:02:09.399 You got nothing? Thank you man? 0:02:09.480 --> 0:02:12.040 Thanks guys, Yeah, long time, no see. 0:02:12.639 --> 0:02:15.440 I know it's funny because like I think I see 0:02:15.480 --> 0:02:17.200 you guys like every every couple of weeks. 0:02:17.280 --> 0:02:21.160 Now, I'm sure, sure, sure, we always find new things 0:02:21.160 --> 0:02:24.160 to talk about he was Yeah, he was just throwing blackout. Yes, 0:02:24.240 --> 0:02:27.560 I was talked about the creative economy. Yeah, of course 0:02:27.560 --> 0:02:31.400 you've been on Ernlesia, been on invest Fest stage. 0:02:31.680 --> 0:02:33.680 Yeah, you've been on market mondays. 0:02:34.120 --> 0:02:36.280 This is true. What else is there to do? 0:02:36.400 --> 0:02:40.239 Now you have the red distinction of having two episodes 0:02:40.600 --> 0:02:42.600 on the Big Show, which is very rare. 0:02:42.800 --> 0:02:44.560 Red territory feeling about this. 0:02:44.720 --> 0:02:47.640 I feel honored because I'm catching you guys at the 0:02:47.680 --> 0:02:49.799 right time, because every time I turn on television, you 0:02:49.919 --> 0:02:54.360 have y'all all like really big programs like you know, 0:02:54.480 --> 0:02:56.080 I'm saying, y'all with a lot of a lot of 0:02:56.080 --> 0:02:57.960 dope people expand their brand, and I love it. 0:02:58.120 --> 0:03:02.200 Well, you know, first and foremost we're on fan base. Yes, 0:03:02.320 --> 0:03:04.640 so yeah, you guys are. So that's that's. 0:03:04.480 --> 0:03:07.680 Something that should be People will probably by now already 0:03:07.760 --> 0:03:10.160 know that. But if you didn't know, you know, we've 0:03:10.160 --> 0:03:13.440 been in communication and this is something that we are 0:03:13.560 --> 0:03:16.680 very vocal about as far as us wanting to support you, 0:03:16.760 --> 0:03:19.520 as far as giving you a platform that's that's beneficial, 0:03:19.600 --> 0:03:22.040 but also us being on your. 0:03:21.880 --> 0:03:22.720 Platform as well. 0:03:22.880 --> 0:03:25.480 Yeah, I appreciate that, and I mean I think it's 0:03:25.520 --> 0:03:30.040 probably one of the premier kind of like additions to 0:03:30.160 --> 0:03:33.320 what we've been building, Can you guys validate us in 0:03:33.400 --> 0:03:37.160 a different way by you know, your your financial literacy. 0:03:37.200 --> 0:03:41.080 There's a seriousness and a wealth of information that people 0:03:41.120 --> 0:03:43.960 really need beyond just dances and you. 0:03:43.920 --> 0:03:44.840 Know, fun stuff. 0:03:44.840 --> 0:03:47.840 But you guys are bringing real content to the platform, 0:03:47.840 --> 0:03:51.800 and I'm looking forward to actually expanding like this relationship 0:03:51.880 --> 0:03:54.400 beyond what anybody can think of, because I think you 0:03:54.400 --> 0:03:55.960 know your message is extremely. 0:03:55.680 --> 0:03:58.160 Valuable, appreciate it in front of it. So if anybody 0:03:58.200 --> 0:03:59.360 that's under a rock they don't know. 0:03:59.440 --> 0:04:03.720 Fan Base is a social media platform that allows any 0:04:03.800 --> 0:04:07.040 regular creator to earn money based off of subscriptions. 0:04:07.960 --> 0:04:11.880 In a nutshell, right, yeah, I mean I'll say this. 0:04:11.920 --> 0:04:15.040 I mean, well, first, fan Base is a social networks, 0:04:15.080 --> 0:04:16.800 free to download, free to use. I say it all 0:04:16.800 --> 0:04:20.040 the time. So sometimes people get the notion that fambase 0:04:20.120 --> 0:04:22.200 might cost money. It doesn't cost any money to download 0:04:22.240 --> 0:04:24.240 and use the platform. I always say, look at it as 0:04:24.240 --> 0:04:26.800 a freemium model, so that you could have you can 0:04:26.880 --> 0:04:29.360 use it like you would use Instagram or TikTok or whatever, 0:04:29.680 --> 0:04:32.119 but then you can also have this added layer of 0:04:32.800 --> 0:04:35.960 subscribers if you want to and that's the part that 0:04:36.000 --> 0:04:38.320 I think is most important. I'm going to say this 0:04:38.440 --> 0:04:41.839 until the world acknowledges me for this, is that I 0:04:41.920 --> 0:04:45.920 invented peer to peer in a purchase subscription on mobile devices. 0:04:46.440 --> 0:04:48.440 So that means what fan Base allows you to do 0:04:48.440 --> 0:04:50.720 is take out your phone and use a fingerprint or 0:04:50.720 --> 0:04:53.360 a face scan through the App Store the Google Store 0:04:53.440 --> 0:04:56.120 to subscribe to a person before people will pull out 0:04:56.120 --> 0:04:58.000 credit cards if you're using all these other apps to 0:04:58.040 --> 0:05:01.000 have subscribers using a credit card. But once I did 0:05:01.000 --> 0:05:03.520 that and we launched that at twenty nineteen, about two 0:05:03.600 --> 0:05:06.400 years later, all the other platforms started doing it, including 0:05:06.440 --> 0:05:08.920 Apple chains and model, Google chains and models to accommodate 0:05:09.320 --> 0:05:11.320 the vision that people are going to be subscribing to 0:05:11.360 --> 0:05:17.320 people more than Netflix. Okay, so let's take it back 0:05:17.320 --> 0:05:20.360 a little bit. You recently raised seventeen million dollars is 0:05:20.360 --> 0:05:22.440 a number that I'm hearing right. We're raising said we 0:05:22.560 --> 0:05:25.080 raised ten You raised ten million dollars, were already raised 0:05:25.080 --> 0:05:28.800 ten million dollars in three years, and so that extreme 0:05:28.920 --> 0:05:32.360 that was extremely important because it gave us the capital 0:05:32.440 --> 0:05:34.640 kind of really to start and be acknowledged as a 0:05:34.680 --> 0:05:38.240 platform that people can can can really use and give 0:05:38.320 --> 0:05:40.200 us the ability to build what we wanted to build. 0:05:40.200 --> 0:05:42.000 Like we didn't have to we didn't have to really 0:05:42.040 --> 0:05:45.760 think about you know, like I was, I was funding 0:05:45.800 --> 0:05:48.160 this myself. Let's say that I spent like two hundred 0:05:48.160 --> 0:05:49.920 thousand on my own money. And at some point we 0:05:49.920 --> 0:05:51.440 were like, yo, we got to get this thing to 0:05:51.480 --> 0:05:54.720 the next level. And so COVID had happened and we 0:05:54.720 --> 0:05:57.880 were in equity crowdfunding. Equit crowdfunding came along and gave 0:05:57.880 --> 0:05:59.880 me the opportunity to do that. So all right, so 0:06:00.640 --> 0:06:03.160 you raised ten million, you're trying to raise another seven million. 0:06:03.400 --> 0:06:06.919 I'm not trying I'm raising seven want to raise billion dollars? 0:06:07.000 --> 0:06:11.440 Okay, have you ever why haven't you going to venture 0:06:11.520 --> 0:06:16.240 capital route or angel or like just what made the 0:06:16.480 --> 0:06:20.800 crowdfunding situation appealing as opposed to trying to target vcs 0:06:20.880 --> 0:06:22.440 trying to target angels. 0:06:22.760 --> 0:06:24.760 Maybe you did, I'm not sure, but I think there's 0:06:24.800 --> 0:06:30.440 two I think there's two major things that affected that decision. 0:06:30.720 --> 0:06:35.040 First and foremost was racial bias, like the ability for 0:06:35.640 --> 0:06:38.200 black startups to get funded, right, that was one of 0:06:38.240 --> 0:06:39.000 the first things. 0:06:39.240 --> 0:06:41.800 And then secondly, we were in COVID. 0:06:41.680 --> 0:06:44.200 Talk about racial bias though, because they might not fully understand. 0:06:44.720 --> 0:06:49.480 So in twenty twenty three, black startups received I think 0:06:49.560 --> 0:06:53.279 zero point sixty nine percent of funding, right, and that 0:06:53.440 --> 0:06:56.400 was like so so so low. It was down from 0:06:56.400 --> 0:07:01.599 like one point five percent all capital. So out of 0:07:01.600 --> 0:07:05.240 all the capital that VC's investing, they invested almost a 0:07:05.240 --> 0:07:07.599 little over half of a percent into black founders in 0:07:07.680 --> 0:07:10.680 all areas. So when you think about that, that's like 0:07:11.440 --> 0:07:14.840 ninety nine point five percent going to other people that 0:07:14.880 --> 0:07:18.000 are not black. So the likelihood that you're going to 0:07:18.040 --> 0:07:22.920 get funded from a VC is so like it's not happening, really, 0:07:23.000 --> 0:07:24.480 you know what I mean, It's it's very very rare 0:07:24.520 --> 0:07:27.040 that those things happen. I even had a conversation with 0:07:27.120 --> 0:07:29.760 a with a good friend of my Chamellionaire, about three 0:07:29.840 --> 0:07:33.040 or four days ago, and we were talking about the 0:07:33.040 --> 0:07:36.200 equity crowdfunding around and how the timing is right now 0:07:36.200 --> 0:07:40.880 because because venture capital actually getting tighter with the purse strings. 0:07:41.200 --> 0:07:43.720 But something that frustrated him that he related to me 0:07:43.880 --> 0:07:46.680 is like, you're right about this this you know about 0:07:46.680 --> 0:07:49.280 this capital. He's like, I've seen he goes I went to, 0:07:49.280 --> 0:07:50.640 like I can remember what school he went to, and 0:07:50.640 --> 0:07:52.480 he's like I saw a dude get up on stage 0:07:52.480 --> 0:07:54.520 of present and say he needed twenty million dollars for 0:07:54.560 --> 0:07:56.560 a startup, a white kid, and they gave him forty five. 0:07:57.360 --> 0:08:00.400 Like that imagine is gone into a I'm saying I 0:08:00.440 --> 0:08:02.880 need forty five million dollars to build my company and 0:08:02.960 --> 0:08:04.840 somebody just cutting you a check saying here, go do it. 0:08:05.000 --> 0:08:07.400 Like they're not doing that for us, Like we're not 0:08:07.440 --> 0:08:10.000 getting those looks. That doesn't exist in our world. 0:08:10.040 --> 0:08:12.520 So I mean when people are raised, right, you raise 0:08:12.600 --> 0:08:15.520 the ten, you're gonna raise the seven, they're seventeen. 0:08:15.880 --> 0:08:18.040 A lot of people will look at well, why do 0:08:18.120 --> 0:08:19.120 we mean to seventeen? 0:08:19.400 --> 0:08:19.520 Right? 0:08:19.560 --> 0:08:22.560 They don't understand the capital or pop capital intensive. 0:08:22.600 --> 0:08:26.120 This could be they know scaling, So what is the 0:08:26.160 --> 0:08:28.080 determined factor when you say this is the number we 0:08:28.080 --> 0:08:28.560 need to get to. 0:08:28.720 --> 0:08:31.440 Right, you could have said, let's raise twenty seven. Right, 0:08:31.600 --> 0:08:32.439 was the realistic thing? 0:08:32.520 --> 0:08:34.839 Or was from a scalability to the point, this is 0:08:34.880 --> 0:08:37.320 where we want to be at this point in our. 0:08:37.240 --> 0:08:39.800 Coupoy So we came up with a three year plan. 0:08:39.960 --> 0:08:43.080 So up until this point we funded fan base and 0:08:43.120 --> 0:08:45.559 being able to build a company at a steady pace. 0:08:45.679 --> 0:08:48.679 But right now we have to wear in scale mode 0:08:48.760 --> 0:08:51.600 as opposed to startup mode. We're no longer a startup 0:08:51.640 --> 0:08:54.040 in my opinion. We're trying to scale the company. So 0:08:54.120 --> 0:08:56.840 to do that, we actually have to build functionality and 0:08:56.920 --> 0:08:59.320 build faster to keep up with the demands of what 0:08:59.440 --> 0:09:03.080 users want, especially if we want to capitalize on exactly 0:09:03.080 --> 0:09:07.360 what's going on with creators and monetization. So, first and foremost, 0:09:08.200 --> 0:09:13.480 seventeen million was a number because we're valued at one 0:09:13.520 --> 0:09:16.160 hundred and sixty million dollars. Now, so I first lost 0:09:16.160 --> 0:09:17.840 the company, we're about at twenty million. Then I did 0:09:17.840 --> 0:09:19.360 a raise of fifty then I did a raise eighty 0:09:19.400 --> 0:09:21.960 five million, and now this raise right now is valued 0:09:22.000 --> 0:09:24.559 at one hundred and sixty million dollars, and so roughly 0:09:24.600 --> 0:09:28.240 about ten percent of the company is up for investment 0:09:28.360 --> 0:09:31.360 to the general public on starting Engine dot com slash 0:09:31.440 --> 0:09:35.480 fan base if you can see this. So so for 0:09:35.559 --> 0:09:39.280 that reason, we wanted to be able to what I say, 0:09:40.120 --> 0:09:43.719 accommodate what users want a scale. So there's a lot 0:09:43.760 --> 0:09:45.520 of things that go into building a startup like this. 0:09:45.559 --> 0:09:48.320 Stuff is expensive and you guys know, more than anything, 0:09:48.679 --> 0:09:52.720 and tech is extremely expensive, and so so to scale 0:09:52.800 --> 0:09:55.559 the company. First thing you want to do is focus 0:09:55.640 --> 0:09:59.080 on scaling our functionality. 0:09:58.400 --> 0:09:59.199 Our productivity. 0:09:59.520 --> 0:10:00.880 So right now, let's say I have a team of 0:10:00.960 --> 0:10:03.160 twenty five developers, right we're going to be able to 0:10:03.240 --> 0:10:04.440 We're going to be able to triple that. So now 0:10:04.480 --> 0:10:06.760 we'll have seventy five developers. Will double that or triple that. 0:10:06.760 --> 0:10:09.200 We have seventy five developers that can actually help, you know, 0:10:09.280 --> 0:10:12.120 build this. And so when I tell people that come 0:10:12.160 --> 0:10:14.160 to fan Base and say, oh, well, fan Base doesn't 0:10:14.240 --> 0:10:17.040 have X, y Z or we want this, I'll tell 0:10:17.040 --> 0:10:19.880 you if you want if you want darkload investing fan Base, 0:10:19.920 --> 0:10:21.960 if you want care of sales investing fan Base, if 0:10:21.960 --> 0:10:25.080 you want the same functionality that TikTok ads all these 0:10:25.120 --> 0:10:25.760 platforms have. 0:10:26.040 --> 0:10:27.679 This raise will give us the ability. 0:10:27.400 --> 0:10:30.320 To catch those platforms without a doubt. Like with the development, 0:10:30.360 --> 0:10:32.640 I will be able to catch them. But then there's 0:10:32.679 --> 0:10:34.480 another thing that we want to do is go beyond 0:10:34.520 --> 0:10:37.920 the innovation that we see that other platforms are doing 0:10:38.000 --> 0:10:40.439 that they're just not capitalizing on and so they're missing 0:10:40.440 --> 0:10:40.800 that mark. 0:10:41.240 --> 0:10:44.520 Is there a point in the development process, Because technology 0:10:44.520 --> 0:10:47.120 does move so fast as you're developing, you have to 0:10:47.120 --> 0:10:49.560 be almost precise with what you want to do, because 0:10:49.960 --> 0:10:52.960 if another platform does it, now it's like you're behind 0:10:52.960 --> 0:10:55.280 the wheel. Now you're the second person that or the 0:10:55.320 --> 0:11:00.040 third or the fourth uh fan base, I mean the fourth. 0:11:00.440 --> 0:11:01.640 Platform that has something. 0:11:01.840 --> 0:11:03.600 Now it feels like it's old and I have to 0:11:03.600 --> 0:11:05.120 figure out how to innovate again. 0:11:06.040 --> 0:11:08.280 Is that a like how frustrating does that get? 0:11:08.559 --> 0:11:11.640 That's not really frustrating because honestly, a lot of these platforms, 0:11:11.679 --> 0:11:15.839 what I've noticed is that they don't innovate the advantage 0:11:15.880 --> 0:11:18.560 that I think, which is which is so important about 0:11:19.160 --> 0:11:24.480 what we're building because as a black founded company that's 0:11:24.520 --> 0:11:27.160 not black only, which is extremely important that I have 0:11:27.200 --> 0:11:29.160 to say, because the media will try to say, oh, 0:11:29.280 --> 0:11:31.880 because it's built by somebody black, pie's exclusively for black people, 0:11:32.200 --> 0:11:33.640 and sometimes you get pigeonholed of that. 0:11:33.760 --> 0:11:35.239 But what I noticed. 0:11:35.000 --> 0:11:37.360 Is that, oh, when I started getting into this space 0:11:37.400 --> 0:11:39.880 and seeing that my idea is what we had and 0:11:39.920 --> 0:11:41.720 a lot of the things that we filed like seven 0:11:41.880 --> 0:11:43.280 eight patents. 0:11:43.000 --> 0:11:44.640 For some of the functionality that we've done. 0:11:45.200 --> 0:11:47.440 So when I saw that, I was like, Oh, it 0:11:47.520 --> 0:11:51.000 isn't the these guys are smarter any smarter than us. 0:11:51.520 --> 0:11:53.719 They just got the money but what they do is 0:11:53.760 --> 0:11:56.480 they put a product out there and say, here, guys, 0:11:56.520 --> 0:11:58.960 play with it, make this cool stuff cool or you 0:11:58.960 --> 0:12:01.440 want dms, oh they want, give them that. Oh okay, 0:12:01.600 --> 0:12:04.520 they want retweets, Give them that. So it's just money. 0:12:04.720 --> 0:12:07.360 It's not about innovation. We're the ones that come up 0:12:07.600 --> 0:12:10.200 kids black culture. We're the ones that come up with 0:12:10.280 --> 0:12:12.160 all these things that people talk about all the time 0:12:12.400 --> 0:12:15.000 that get put into social media products. We're the ones 0:12:15.040 --> 0:12:18.079 that bring those into these spaces, but we don't own them. 0:12:18.120 --> 0:12:20.040 So that's the reason why I was like, Okay, if 0:12:20.040 --> 0:12:21.960 it's just money, then let's go get the money. And 0:12:22.000 --> 0:12:25.600 then now we have a company that rivals the tiktoks 0:12:25.600 --> 0:12:28.679 and Instagrams of the world, at least by functionality. Now 0:12:28.720 --> 0:12:31.360 execution is one thing, but I don't doubt our ability 0:12:31.400 --> 0:12:33.800 to do that, but at least we've leveled the playing 0:12:33.800 --> 0:12:35.160 field from people can make a decisions. 0:12:35.640 --> 0:12:39.480 So seventeen million, what does that do to the landscape 0:12:39.520 --> 0:12:42.760 of like black startup tech companies? Like is this something 0:12:42.800 --> 0:12:46.600 that can be used as a landmark? Is how will 0:12:46.600 --> 0:12:50.120 this change the dynamic for black entrepreneurs that are intact 0:12:50.120 --> 0:12:51.360 that's trying to raise capitals? 0:12:51.559 --> 0:12:57.160 So from a social media standpoint, it'll be pretty impressive 0:12:57.200 --> 0:13:00.960 because in tech there are a lot of startups that 0:13:00.960 --> 0:13:01.959 are founded by black. 0:13:01.800 --> 0:13:05.160 People that often receive funding and they raise lots of money. 0:13:05.440 --> 0:13:07.720 But two of the most important things that I see 0:13:08.200 --> 0:13:10.880 are the control of the company and the equity of 0:13:10.920 --> 0:13:13.360 the company. So I can name I'm not gonna name name, 0:13:13.440 --> 0:13:15.959 but I can name companies where companies start ups to 0:13:16.000 --> 0:13:18.839 raise one hundred million dollars, but ninety nine percent of 0:13:18.880 --> 0:13:22.600 the company is owned by institutional investors and then they force. 0:13:22.480 --> 0:13:24.280 The founder out and great. 0:13:24.320 --> 0:13:25.679 You get to walk away and say, Okay, I made 0:13:25.679 --> 0:13:28.120 twenty thirty million in tech, I'm a tech founder, but 0:13:28.320 --> 0:13:32.720 you didn't make a dent. My idea with equity, crowdfunding 0:13:32.760 --> 0:13:34.280 and the way that I decided to do fanmas is 0:13:34.320 --> 0:13:37.360 I wanted something that I could be intentional about and 0:13:37.440 --> 0:13:41.240 build and create generational wealth by allowing people to invest, 0:13:41.520 --> 0:13:44.320 but also people be able to monetize their content. So 0:13:44.360 --> 0:13:47.400 from the social media standpoint, this is we never been 0:13:47.440 --> 0:13:49.640 here before. And I talk about this like I was 0:13:49.679 --> 0:13:53.200 just saying today. If we don't get this right and 0:13:53.240 --> 0:13:55.400 by means of families, I don't know, we can never 0:13:55.440 --> 0:13:58.680 have a conversation that we didn't have the opportunity to 0:13:58.720 --> 0:14:01.920 really take control of an infrastructure and social media. 0:14:01.720 --> 0:14:03.120 And do that because we have it. 0:14:03.240 --> 0:14:07.240 I looked, I've been researching the companies right now in existence. 0:14:07.240 --> 0:14:11.760 I can only find nine black founded social media apps 0:14:11.800 --> 0:14:14.800 in existence, and at them all nine, there's only one 0:14:14.880 --> 0:14:18.360 that is not directly geared towards the black community. 0:14:18.720 --> 0:14:19.440 That's fan base. 0:14:19.880 --> 0:14:21.880 I'm building this as if I'm building something for the 0:14:22.040 --> 0:14:25.160 entire planning as opposed to that and then on the 0:14:25.400 --> 0:14:28.280 on the you know, the equity crowd fromding side. This 0:14:28.360 --> 0:14:31.480 is unprecedented because I'm the first black men to race 0:14:31.560 --> 0:14:34.160 ten million in the REGCF space, which is a level 0:14:34.560 --> 0:14:36.400 where we were at before where I raised the ten 0:14:36.440 --> 0:14:39.000 and it's seventeen. It's something called a reggae plus round, 0:14:39.360 --> 0:14:41.240 and so that's a whole different level of investment, a 0:14:41.280 --> 0:14:44.600 whole different level of compliance and stuff that we had. 0:14:44.480 --> 0:14:46.800 To do with the Secso I'm proud to do this. 0:14:46.920 --> 0:14:48.560 So this is this is unprecedented. 0:14:48.600 --> 0:14:50.920 It should, it should really shape the mold and really 0:14:51.000 --> 0:14:52.960 and really change the way that people think about how 0:14:52.960 --> 0:14:56.040 they scale and build their companies because I see often 0:14:56.120 --> 0:14:59.680 at times people don't have the money to really retain 0:15:00.080 --> 0:15:02.320 ownership of their company. So I'm trying to retain as 0:15:02.400 --> 0:15:05.200 much ownership of this. So then down the lot, if 0:15:05.200 --> 0:15:06.680 we do need to raise let's say three or four 0:15:06.800 --> 0:15:09.080 dred millionum, Right, there's the equity to be able to 0:15:09.080 --> 0:15:11.760 do that, but also give people the opportunity to invest. 0:15:11.760 --> 0:15:14.320 So this is this is a you know, a watership model. 0:15:14.400 --> 0:15:16.040 I say, Yeah, one of the things you talked about 0:15:16.080 --> 0:15:19.920 was the SEC approval process, and that was really unprecedented. 0:15:20.040 --> 0:15:22.480 We had a conversation and then like two weeks later 0:15:22.600 --> 0:15:23.680 was like, I can't believe it. 0:15:23.640 --> 0:15:24.440 It happens so fast. 0:15:24.520 --> 0:15:26.920 Yeah, talk about that because a lot of people number one, 0:15:26.960 --> 0:15:29.880 probably don't even know what the SEC does and how 0:15:30.120 --> 0:15:32.880 I guess your work ethic and how the company has 0:15:32.920 --> 0:15:35.160 been raised prior to that point, how it helped in 0:15:35.160 --> 0:15:36.280 that prooval process. 0:15:36.480 --> 0:15:38.280 So well, the first thing I'll say is a lot 0:15:38.320 --> 0:15:41.760 of people that want to raise capital is the way 0:15:41.760 --> 0:15:42.760 you construct your business. 0:15:42.800 --> 0:15:44.560 Because me doing this, people have. 0:15:44.560 --> 0:15:47.000 Asked me like, okay, cool, just can you look me 0:15:47.080 --> 0:15:49.080 up with start engine so I can go raise money? 0:15:49.120 --> 0:15:51.440 Like it's just that easy. I'm like, it don't work 0:15:51.480 --> 0:15:51.800 like that. 0:15:51.960 --> 0:15:55.080 Before I even made it, to start Engine, I had 0:15:55.120 --> 0:15:58.880 to you know, form my company, I you know, incorporated 0:15:58.920 --> 0:16:03.280 in Delaware to c Corp. And creating stock and all 0:16:03.280 --> 0:16:05.240 these things that existed, you know what I'm saying. Then 0:16:05.240 --> 0:16:07.840 I had to make sure that our accounting was together, 0:16:07.920 --> 0:16:10.480 and I prepared all this. I filed trademarks for fan 0:16:10.560 --> 0:16:13.080 Base just before any code was ever written, before I've. 0:16:12.960 --> 0:16:14.000 Even met my CTO. 0:16:14.320 --> 0:16:16.880 I just wanted to prepare the actual business infrastructure of 0:16:16.880 --> 0:16:18.920 the company because now I'm coming from a place of 0:16:18.920 --> 0:16:20.960 the music business. I'm coming from a place of learning 0:16:21.200 --> 0:16:24.200 from the mistakes that my father made. Like, okay, ownership, 0:16:24.440 --> 0:16:26.560 you got to make sure that that's locked in the beginning. 0:16:26.640 --> 0:16:28.600 So then now we get to the point where we 0:16:28.640 --> 0:16:32.080 build the company. We raised his capital and get and 0:16:32.680 --> 0:16:34.680 get approved by starting Engine to raise and a rex 0:16:34.680 --> 0:16:37.520 CF and only two percent of people, every color, every 0:16:37.600 --> 0:16:39.600 race get approved for equity crowd bundy, so it's rare 0:16:39.600 --> 0:16:40.880 to even be included in that. 0:16:41.320 --> 0:16:44.120 So let alone then be successful with that process. 0:16:44.120 --> 0:16:50.080 So I credit my COO, CTO and our CFO for 0:16:50.240 --> 0:16:52.960 keeping us really you know, dialed in on. 0:16:52.920 --> 0:16:56.120 How we raise our capital. Because when you try to 0:16:56.160 --> 0:16:56.960 go for. 0:16:57.080 --> 0:16:59.440 A rex CF round, it's a lot less leaning. Y'all 0:16:59.440 --> 0:17:01.400 you have to do is a financial review, you know 0:17:01.400 --> 0:17:03.840 what I'm saying with the SEC to comply. It's not 0:17:03.880 --> 0:17:07.720 really you know, that complicated. When you're going to reggae, 0:17:08.040 --> 0:17:10.840 which the difference between REGCF and reggae is, and a 0:17:10.880 --> 0:17:13.560 reggae and a RECCF and crowdfunding, you can only raise 0:17:13.600 --> 0:17:16.520 up to five million in the calendar year, right and 0:17:16.560 --> 0:17:18.520 the most that someone can invest in that route is 0:17:18.520 --> 0:17:20.800 one hundred thousand dollars at one time. When you go 0:17:20.880 --> 0:17:23.160 to a reggae, you can raise up to seventy five 0:17:23.200 --> 0:17:25.119 million in the calendar year, and there is no limit 0:17:25.160 --> 0:17:28.320 on what someone can invest institutional like a credited investment 0:17:28.400 --> 0:17:29.840 or not a credited So somebody wants to come along 0:17:29.880 --> 0:17:31.720 and write a check for ten million and the fan base, 0:17:31.760 --> 0:17:33.199 they can come and write a check ten million to 0:17:33.240 --> 0:17:35.000 take you know, two thirds of a round if they 0:17:35.000 --> 0:17:37.680 wanted to do so. But it's almost like you're going public. 0:17:37.720 --> 0:17:40.879 It's almost like you're filing to go public. The level 0:17:40.880 --> 0:17:42.960 of complianceship to you know, go through it's like a 0:17:42.960 --> 0:17:45.920 three month process. So we did that process with the 0:17:45.960 --> 0:17:49.000 SEC and an amazing company called crowd Check and our 0:17:49.040 --> 0:17:50.080 partners at Start. 0:17:49.800 --> 0:17:52.640 Engine, and they were warning us. They were like, hey, look, 0:17:52.640 --> 0:17:55.680 you know this whole process with the SEC, it takes 0:17:55.720 --> 0:17:58.320 like six months because every time you submit, they always 0:17:58.320 --> 0:18:01.119 got some questions. They always want you to do something. 0:18:01.200 --> 0:18:05.320 And we filed to be able to you know, launch around, 0:18:05.359 --> 0:18:08.600 and the SEC responded with no objection, which is like, 0:18:08.880 --> 0:18:09.760 you know, a non review. 0:18:09.800 --> 0:18:12.800 I'm sorry, non review. And they were like they were surprised. 0:18:12.840 --> 0:18:15.440 They're like, scd ain't in a question like y'all can 0:18:15.440 --> 0:18:18.080 go ahead and launch around and that's just unheard of, 0:18:18.119 --> 0:18:20.880 and that just speaks to how we've heldled our business. 0:18:20.880 --> 0:18:22.760 Like I'm very you know, I. 0:18:22.960 --> 0:18:25.119 Hate to say that I have this anxiety as a 0:18:25.160 --> 0:18:28.399 black person entering into a space that is not often 0:18:28.560 --> 0:18:31.000 accepted by black people. But even one of the things 0:18:31.000 --> 0:18:32.320 that I do at fan Base is I don't even 0:18:32.320 --> 0:18:34.680 take a salary, Like I've not paid myself a dime 0:18:35.119 --> 0:18:37.080 to run fan Base since I lount the company, because 0:18:37.080 --> 0:18:39.080 it's like, who cares about paying myself one hundred thousand, 0:18:39.280 --> 0:18:41.800 two hundred thousand dollars if that could go towards development. 0:18:41.840 --> 0:18:44.280 So I wanted to make sure that everything is available, 0:18:44.359 --> 0:18:47.560 like even when you go and think, then file for this. 0:18:47.760 --> 0:18:50.639 All of your company filings have to be public, so 0:18:50.680 --> 0:18:53.119 you can go on startings dot com and look and 0:18:53.119 --> 0:18:53.400 then go. 0:18:53.359 --> 0:18:54.879 To the SEC and see all our filings. 0:18:54.920 --> 0:18:57.520 So all our financials, everything has to be open to 0:18:57.560 --> 0:19:00.200 the public because you have to give them so much visiblity. 0:19:00.240 --> 0:19:02.040 Is so much transparency for around like this. 0:19:02.680 --> 0:19:04.520 So how do you figure about your valuation? 0:19:04.600 --> 0:19:06.159 Because you have said something about I think you your 0:19:06.160 --> 0:19:07.840 company for one hundred and fifty millions, I'm. 0:19:07.800 --> 0:19:10.040 That under sixty how does that determine? 0:19:10.240 --> 0:19:13.760 So initially before, when you when equity crowdfunding first started, 0:19:13.920 --> 0:19:16.199 you could just name evaluation right, and they were like 0:19:16.280 --> 0:19:19.720 And then ironically when I get there, they were like, oh, 0:19:19.760 --> 0:19:21.920 we have some rules now now you have to actually 0:19:22.400 --> 0:19:26.639 find companies that are comparable to your product in the marketplace. 0:19:26.920 --> 0:19:29.720 And then you can say, okay, since this company raised 0:19:29.720 --> 0:19:32.440 this capital at this valuation, you may do the same. 0:19:32.840 --> 0:19:34.439 And so the first thing that I saw is we 0:19:34.480 --> 0:19:36.760 didn't have we never we didn't have audio rooms in 0:19:36.840 --> 0:19:39.159 fan base. For what I first saw was that with 0:19:39.520 --> 0:19:43.320 twenty five hundred users, Clubhouse was allowed to raise ten 0:19:43.359 --> 0:19:46.720 million dollars, had one hundred million dollar evaluation off the rip, 0:19:47.480 --> 0:19:49.560 so I'm like, okay, well all I need to do 0:19:49.640 --> 0:19:50.920 is all At this time, I was raised a one 0:19:50.920 --> 0:19:52.919 million at a twenty million dollar evaluation, so we were 0:19:52.960 --> 0:19:55.800 well below what was needed. And at that time, fan 0:19:55.880 --> 0:19:58.679 Base had over ten fifteen thousand users, like so we 0:19:58.680 --> 0:20:02.840 were straight independent. So without any institutional capital or any 0:20:02.920 --> 0:20:05.800 crowdfunding capital, we had ten thousand users. We were already 0:20:05.800 --> 0:20:09.920 generating revenue. No, these apps haven't started a lot of 0:20:09.960 --> 0:20:11.439 these apps haven't started to do that yet. So when 0:20:11.440 --> 0:20:14.080 you think about certain startups that out here, you also 0:20:14.080 --> 0:20:16.680 got to think about your you're a startup, then you're 0:20:16.720 --> 0:20:18.360 generating revenue, and then you're profitable. 0:20:19.000 --> 0:20:20.680 So there's those are three big differences. 0:20:20.720 --> 0:20:23.399 And so the fact that we were generating revenue, we 0:20:23.440 --> 0:20:27.639 had already had a certain number of users, and we 0:20:27.640 --> 0:20:29.399 were able to compare to other other products and the 0:20:29.440 --> 0:20:32.520 microplanes like Patriotic use Patreon as an example. I used 0:20:32.520 --> 0:20:37.840 this other, this other app called fan House, which ironically 0:20:38.240 --> 0:20:40.200 FanHouse got venture capital backed. 0:20:40.640 --> 0:20:44.040 They raised thirty five million, forty million. 0:20:43.840 --> 0:20:48.040 Dollars in a Series A seed round, and they were 0:20:48.040 --> 0:20:50.960 out of business in eighteen months. But they don't look 0:20:51.000 --> 0:20:53.639 like me I'm just I'm just I'm saying this for 0:20:53.680 --> 0:20:56.280 a reason that you know, we have to go above 0:20:56.320 --> 0:20:56.720 and beyond. 0:20:56.720 --> 0:20:58.360 But they spent that money in. 0:20:58.359 --> 0:21:00.520 Eighteen months and had to and they were acquired by 0:21:00.520 --> 0:21:02.840 another company, and that company just went and raised forty 0:21:02.880 --> 0:21:05.560 million dollars and I'm like, it's cool though I know 0:21:05.600 --> 0:21:07.520 they you know, I already know what I'm up against, 0:21:07.520 --> 0:21:08.880 but I'm cool with that. 0:21:10.320 --> 0:21:14.320 So as you calculate the amount of users, there's. 0:21:14.119 --> 0:21:15.880 A threshold that you had to because I always say, 0:21:15.880 --> 0:21:18.600 you talk about billion dollar company, this is a billion 0:21:18.600 --> 0:21:19.199 dollar company. 0:21:19.680 --> 0:21:21.679 What's the threashold as far as users? 0:21:21.680 --> 0:21:24.400 Because what you said is important, being probable and having 0:21:24.440 --> 0:21:26.760 revenues important old company. 0:21:26.200 --> 0:21:28.639 We're just all Reddit go public? Right, they lived been 0:21:28.680 --> 0:21:29.840 probable in nineteen years? 0:21:29.960 --> 0:21:32.360 Yeah, right, which is when you're thinking about it, like, wait, 0:21:32.440 --> 0:21:33.840 nineteen year, how they But. 0:21:33.800 --> 0:21:34.639 You have all those things. 0:21:34.800 --> 0:21:38.520 So what's the threshold of users revenue that you have 0:21:38.560 --> 0:21:40.159 to see to say, all right, this is when we 0:21:40.320 --> 0:21:40.840 reached out. 0:21:40.680 --> 0:21:41.840 A billion dollar evaluation? 0:21:42.400 --> 0:21:46.600 So typically in social media, your valuation is based on 0:21:47.440 --> 0:21:50.720 total users in the m a year because what would 0:21:50.720 --> 0:21:53.240 happened before is like let's say a company like Instagram, 0:21:53.480 --> 0:21:56.080 that you would scale your company because of these companies 0:21:56.080 --> 0:21:57.200 are based on advertising. 0:21:57.480 --> 0:21:59.399 They would scale it up to enough users where they 0:21:59.480 --> 0:22:01.879 knew that they could go ahead and then turn on advertising, 0:22:02.280 --> 0:22:03.920 and then they could try to begin to make the 0:22:03.960 --> 0:22:06.040 company profitable. So that's the old model. 0:22:06.040 --> 0:22:09.280 The old model was build an app, get a bunch 0:22:09.320 --> 0:22:11.399 of people on it, and then flip the advertising switch, 0:22:11.840 --> 0:22:13.040 and then start to make money. 0:22:13.520 --> 0:22:14.480 I didn't want to enter. 0:22:14.400 --> 0:22:16.840 The space that way because I always felt like advertising 0:22:17.560 --> 0:22:20.240 what I was seeing experiencing in social media is that 0:22:20.359 --> 0:22:23.480 advertising was actually limiting the way that people could be 0:22:23.560 --> 0:22:24.960 visible on social and people. 0:22:24.760 --> 0:22:28.440 Care more about being seen than actually making money. 0:22:28.600 --> 0:22:31.880 So the fact that advertising the limits that I didn't 0:22:31.920 --> 0:22:33.719 want to put the limitation of being a company that 0:22:33.800 --> 0:22:37.480 ran ads. So it changes the way that we're able 0:22:37.520 --> 0:22:40.560 to value our company. But we still have users. So 0:22:40.720 --> 0:22:43.679 right now fan base has a little over almost a 0:22:43.680 --> 0:22:46.639 little under, about five hundred and ninety five thousand users 0:22:47.080 --> 0:22:52.520 right with no serious like major marketing push. Again, I 0:22:52.560 --> 0:22:56.960 talked about all these things that sound like I'm saying 0:22:57.000 --> 0:22:59.760 them very calmly, but these are all things that just 0:23:00.320 --> 0:23:03.760 having typically existed. Ever so as we continue to scale, 0:23:03.800 --> 0:23:06.359 like my goal even with this seventeen million dollar round, 0:23:06.920 --> 0:23:09.160 is to to scale the coming to a million users 0:23:09.160 --> 0:23:13.360 by the end of this year. And you know, having 0:23:13.800 --> 0:23:16.320 you know users like you guys on your creating content 0:23:16.359 --> 0:23:17.919 like you guys and other people that are joining the 0:23:17.920 --> 0:23:19.919 platform are going to help. 0:23:19.800 --> 0:23:23.879 Us get there. So that's always also going to increase evaluation. Again, tomorrow, 0:23:23.920 --> 0:23:27.080 if Cardi b come on fan Base tomorrow should bring 0:23:27.320 --> 0:23:29.960 a million people. Fan Base is a million dollar company. 0:23:30.040 --> 0:23:32.639 It's like it works like that, Like that's really what 0:23:32.800 --> 0:23:36.400 users increase the value of a social media platform. Which 0:23:36.440 --> 0:23:39.320 is scary because I always talk about like, well, so 0:23:39.400 --> 0:23:41.639 you're telling me that I say all the times you 0:23:41.680 --> 0:23:44.040 tell me I can invest money in fan Base, then 0:23:44.240 --> 0:23:46.719 use it and then increase the value of the asset 0:23:46.760 --> 0:23:49.600 that I own by simply coming to use it. That's 0:23:49.640 --> 0:23:55.000 like you're literally it should almost be unfair because if 0:23:55.000 --> 0:23:57.080 I was, and I say this before, I don't understand 0:23:57.080 --> 0:23:58.639 why people don't understand this. It's like if you're an 0:23:58.720 --> 0:24:01.560 artist or a musician, or an athlete or an entertainer 0:24:01.640 --> 0:24:04.159 that knows that you can drive people to where you 0:24:04.240 --> 0:24:06.320 want to want to be, but you never got a 0:24:06.400 --> 0:24:08.640 chance to invest in Instagram or TikTok, but you see 0:24:08.640 --> 0:24:11.680 how much how powerful those companies are. Then fan base 0:24:11.840 --> 0:24:14.120 is the opportunity for you, no matter what color you are, 0:24:14.640 --> 0:24:17.240 no matter you know, no matter like your age or whatever. 0:24:17.280 --> 0:24:19.960 It's an opportunity for you. It's actually an equity and 0:24:20.080 --> 0:24:22.199 actually a social media platform. So that's what's really going 0:24:22.280 --> 0:24:24.720 to increase, Like I said, increase our evaluations just. 0:24:24.640 --> 0:24:25.840 How fast we skill uses. 0:24:26.080 --> 0:24:27.879 And it's also the velocity in which it's done. So 0:24:27.920 --> 0:24:29.840 if it takes me five years to get to a 0:24:29.840 --> 0:24:32.800 million users, that ain't good. If it takes me five months, 0:24:33.200 --> 0:24:35.600 that changes everything. It's also the velocity in what you raised. 0:24:35.640 --> 0:24:37.160 You know, you raise your your yarb. 0:24:37.359 --> 0:24:41.399 You said something about marketing and advertising in a media space. 0:24:41.440 --> 0:24:44.639 We brought this up about some of the difficulties that 0:24:44.720 --> 0:24:48.400 transpire when trying to find at partners or even having 0:24:48.880 --> 0:24:53.200 sponsorships or advertising in our media space, but the social 0:24:53.240 --> 0:24:56.240 media space, especially fan base. What's that process like for 0:24:56.280 --> 0:24:58.320 you as far as getting people to come on the 0:24:58.359 --> 0:25:01.280 app to have advertising. So what we have to we 0:25:01.359 --> 0:25:04.320 have to be careful about how we do that process 0:25:04.359 --> 0:25:07.320 because advertising is something that I don't necessarily want to 0:25:07.320 --> 0:25:10.280 add to the platform because we're already in a position 0:25:10.320 --> 0:25:14.440 that we're generating revenue. The part about advertising is is 0:25:14.720 --> 0:25:16.719 we got to find ways for it to be unique. 0:25:16.880 --> 0:25:18.600 We have to find ways for it to be kind 0:25:18.600 --> 0:25:21.399 of cool that don't interrupt the user experience, right, and 0:25:21.480 --> 0:25:24.800 so and then advertising again, it's like it's it's tough 0:25:24.840 --> 0:25:26.840 because I. 0:25:26.880 --> 0:25:29.639 Was watching the Eli interview the other day and. 0:25:29.640 --> 0:25:33.359 I could tell like he he was blaming the fact 0:25:33.359 --> 0:25:38.080 that advertisers also, you know, are leader, we're leaving X. 0:25:38.680 --> 0:25:41.439 But it's also like the environment in what you curate 0:25:42.160 --> 0:25:44.840 for users the experience is also advertisers don't want to 0:25:44.880 --> 0:25:47.240 be on a platform, or there's a bunch of hate speech, 0:25:47.640 --> 0:25:51.080 you know what I'm saying, racism, pornography, and that's kind 0:25:51.080 --> 0:25:52.679 of like what X is at this point. So it's 0:25:52.720 --> 0:25:54.320 kind of hard. And he says, oh, well, you can 0:25:54.400 --> 0:25:56.119 just you know, you can decide where you want your 0:25:56.119 --> 0:25:58.760 ass to run. Which is two it's two sides of 0:25:58.960 --> 0:26:00.959 of of of a problem. 0:26:01.240 --> 0:26:07.600 One, he's admitting that corporations like Facebook can control the visibility. 0:26:07.040 --> 0:26:08.080 That you have in your content. 0:26:08.480 --> 0:26:11.320 The advertiser comes on there says, I don't want any 0:26:11.440 --> 0:26:14.359 LGBTQ content showing next to my content. Then they can 0:26:14.400 --> 0:26:16.640 turn the LGBTQ down, or they can turn the black 0:26:16.680 --> 0:26:18.760 down to run their ads, they can make their money, 0:26:18.760 --> 0:26:20.080 they can turn it back up. So if you ever 0:26:20.119 --> 0:26:23.159 see a dip and you're engaging on social media, like well, 0:26:23.200 --> 0:26:24.159 you'll see this in November. 0:26:24.200 --> 0:26:27.320 Anybody that talks about politics, you're engaged gonna. 0:26:27.119 --> 0:26:29.280 Be a flat lined around November because they're gonna make 0:26:29.320 --> 0:26:31.560 sure that you have no effect on being able to 0:26:31.560 --> 0:26:33.680 influence an election anymore. They say, okay, you're not gonna 0:26:33.680 --> 0:26:35.920 you can post something like zero views is gonna go down, 0:26:36.400 --> 0:26:39.520 And I see this problem with the creators all the time. 0:26:39.520 --> 0:26:42.000 And so then, but he's also admitting that. 0:26:42.760 --> 0:26:45.520 You get you can pick and choose where your content goes, 0:26:45.560 --> 0:26:48.080 but you can't necessarily control what the user is going 0:26:48.160 --> 0:26:50.080 to say. So you can still say I can want 0:26:50.119 --> 0:26:51.960 my ads, I want my ass to show next to 0:26:52.600 --> 0:26:55.440 a particular genre, like I want my ass to show 0:26:55.720 --> 0:26:57.679 next to people that like sports, which it doesn't mean 0:26:57.720 --> 0:26:59.280 that somebody's not gonna get on there and say something 0:26:59.359 --> 0:27:02.320 racist or post something foul or whatever or misleading. So 0:27:03.400 --> 0:27:05.680 advertising is tricky. That's why I don't like it, because 0:27:05.720 --> 0:27:08.479 also they control your company. The two things that control 0:27:08.520 --> 0:27:11.560 your company is either when it's public the general public, 0:27:11.680 --> 0:27:14.680 or your stockholders and your advertisers. If I build a 0:27:14.720 --> 0:27:19.040 company independent of public stock and advertisers, and I can 0:27:19.080 --> 0:27:22.600 still generate revenue, then I'm always to control the way 0:27:22.600 --> 0:27:24.960 that I want my company to be. I can fan base, 0:27:25.000 --> 0:27:29.720 can be as ethnically centered as possible without any fail 0:27:29.760 --> 0:27:31.600 you know what I mean. We can do the things 0:27:31.200 --> 0:27:33.679 if there's things that we want to bring attention to, 0:27:34.000 --> 0:27:36.800 whatever the cause, whatever the situation is, whatever the time, 0:27:36.880 --> 0:27:39.200 whatever it is, we can do that because there's no 0:27:39.200 --> 0:27:41.840 one that can force our hand to say we don't want. 0:27:41.720 --> 0:27:45.760 You participating in this, because we control the pockets. 0:27:46.560 --> 0:27:51.040 So why the model as far as getting money to 0:27:51.119 --> 0:27:54.280 creators from day one, Why is that so important and 0:27:54.480 --> 0:27:55.280 it just works? 0:27:55.920 --> 0:27:58.640 How is it going to change the landscape of social media? Well, 0:27:58.680 --> 0:28:00.679 the first thing I think about is just ruption. So 0:28:01.240 --> 0:28:04.320 if you're not pissing people off, then you're doing something wrong. 0:28:04.400 --> 0:28:06.240 So the first thing when I got the kind of 0:28:06.240 --> 0:28:08.879 the idea to really to even build a company, I 0:28:08.960 --> 0:28:12.600 knew that this is going to disrupt industries because people 0:28:12.640 --> 0:28:16.159 are always talking right now about TV and film, music, 0:28:16.200 --> 0:28:19.160 we're having all these conversations about how these how artists 0:28:19.160 --> 0:28:22.240 are getting paid enough for streaming, how athletes aren't getting 0:28:22.240 --> 0:28:25.240 paid like the college players just got nil to be 0:28:25.280 --> 0:28:27.119 able to do those kinds of things we're seeing. 0:28:27.440 --> 0:28:30.560 You know, movie stars get their TV shows canceled, you know, 0:28:30.600 --> 0:28:33.320 inserrated rap shits getting getting take off, and now she 0:28:33.400 --> 0:28:35.840 needs to go independent because she can own her content 0:28:35.880 --> 0:28:37.640 and all that kind of stuff. So for me, it's 0:28:37.680 --> 0:28:39.400 like if I don't, if I don't create an environment 0:28:39.520 --> 0:28:42.760 or an infrastructure where the community can own and monetize 0:28:42.760 --> 0:28:44.720 from day one, it actually puts no limits because it 0:28:44.760 --> 0:28:47.920 circumvents all the industries. The fact that you can pick 0:28:48.000 --> 0:28:51.760 up your phone and subscribe directly to a person changes 0:28:52.200 --> 0:28:54.720 business for every single person on the playt always say this, 0:28:54.800 --> 0:28:57.200 there's nobody that's on fan base that is not a business. 0:28:57.680 --> 0:29:01.480 The business is the business ability to receive revenue or 0:29:01.480 --> 0:29:04.200 income for a product or service you provide. So for 0:29:04.240 --> 0:29:06.880 that very reason, by default, every single person on fan 0:29:06.960 --> 0:29:10.760 base is a business. And so I think that the 0:29:10.800 --> 0:29:13.880 ability for us to generate revenue from day one, we 0:29:13.920 --> 0:29:15.560 don't have to figure it out. Their apps out here 0:29:15.560 --> 0:29:18.240 that have not figured it out that are clubhouses not 0:29:18.280 --> 0:29:20.560 figured out how to generate revenue. There's a lot of 0:29:20.560 --> 0:29:22.520 these startups that are in the social media space have 0:29:22.560 --> 0:29:24.520 not figured out how to make revenue, but going to 0:29:24.560 --> 0:29:27.760 direct a consumer and allowing the user to decide. 0:29:27.400 --> 0:29:29.160 What they want to pay for. And we're seeing that 0:29:29.200 --> 0:29:30.640 with younger kids anyway. 0:29:30.960 --> 0:29:32.880 And that's another thing too, is saying like the future 0:29:33.000 --> 0:29:35.200 is you know I was talking about when you see 0:29:35.240 --> 0:29:38.480 kys and not Kai is twenty twenty one, twenty two 0:29:38.560 --> 0:29:41.320 years old. He has about eighty five thousand subscribers making 0:29:41.360 --> 0:29:44.120 four hundred thousand dollars a month. I can't see that 0:29:45.240 --> 0:29:47.720 as a human being and not say I could do 0:29:47.760 --> 0:29:50.400 this as an athlete. I could do this as a musician. 0:29:50.800 --> 0:29:52.880 I don't have to be a gamer. It doesn't matter. 0:29:52.880 --> 0:29:54.360 People going going to see the cond of that they want. 0:29:54.360 --> 0:29:59.320 So it's extremely important that you know, we provide a 0:29:59.400 --> 0:30:02.680 new way for people to monetize directly consuming to circumvent 0:30:02.800 --> 0:30:06.480 all these these pillars that that block and rob artists 0:30:06.320 --> 0:30:10.120 and athletes and movie stars and everybody you know. 0:30:10.200 --> 0:30:12.600 I mean, it's it's pretty evident, right, that's the way 0:30:12.720 --> 0:30:14.400 we can see if guys are we can see it 0:30:14.400 --> 0:30:16.560 what the athletes bringing their own platforms right with just 0:30:16.760 --> 0:30:19.760 Lebron and you the podcast, Now Dreymond comes to mind. 0:30:20.440 --> 0:30:22.880 What do you think is gonna take for that drastic 0:30:23.000 --> 0:30:24.800 change for people to say, all right, we're not going 0:30:24.840 --> 0:30:27.400 to be with the just traditional ways of social media. 0:30:27.800 --> 0:30:29.760 Something like fan base makes too much sense for us 0:30:29.800 --> 0:30:30.400 not to be part of. 0:30:31.200 --> 0:30:35.840 I think the first person that And I'm looking at 0:30:35.920 --> 0:30:38.720 Kai now because again it's it's so it's so interesting 0:30:38.800 --> 0:30:45.120 to me that he's making more money streaming with subscribers 0:30:45.160 --> 0:30:49.000 than rappers are making recording an album, putting it out 0:30:49.320 --> 0:30:52.080 and going and doing shows. Like it's like, you can 0:30:52.160 --> 0:30:54.840 still do that, but there's still a lifestyle and a 0:30:54.880 --> 0:30:58.120 personality that's involved every We're all human, so we all 0:30:58.160 --> 0:31:00.880 have social lives or funny and human or whatever. So 0:31:00.880 --> 0:31:03.680 to be able to monetize that, I think that it'll 0:31:03.720 --> 0:31:07.680 shift when someone like him And I've seen this before, 0:31:07.760 --> 0:31:12.560 Like again, there are these moments that happen that just 0:31:12.600 --> 0:31:15.200 have me scratching my head, like I can't believe no 0:31:15.200 --> 0:31:18.320 one is picking up on the fact that Bad Baby 0:31:18.360 --> 0:31:22.640 made forty million dollars in a year, you know for subscribers. 0:31:22.760 --> 0:31:26.080 Costano is making four hundred thousand dollars them out of subscribers. 0:31:26.120 --> 0:31:29.160 That everybody's not dropping a plate of food. Let the 0:31:29.320 --> 0:31:32.080 plate break and shatter. Say, wait, what did I just hear? 0:31:32.640 --> 0:31:34.360 Hold on, I'm not finna, I'm not finished. 0:31:34.360 --> 0:31:37.600 I'm nothing to do all this extra shit when I 0:31:37.600 --> 0:31:39.800 can just really create and live and exist on social 0:31:39.840 --> 0:31:42.840 media and have fun and then and then monetize and 0:31:43.280 --> 0:31:45.520 still you know, have the same, you know, the same experience. 0:31:46.280 --> 0:31:52.719 So do you think that this will be beneficial for 0:31:52.760 --> 0:31:55.320 the every average day person, right, because everybody's nott it'll 0:31:55.320 --> 0:31:55.840 be constantant. 0:31:56.160 --> 0:31:56.400 Yeah. 0:31:56.440 --> 0:32:00.320 So the average person that has a thousand followers, they're 0:32:00.320 --> 0:32:01.440 not gonna make a lot of money. 0:32:01.840 --> 0:32:04.360 So why does fan base make sense to them? 0:32:04.640 --> 0:32:05.120 Go first? 0:32:05.120 --> 0:32:07.640 Okay, so I'm going to say this because I'm going 0:32:07.720 --> 0:32:11.000 to talk about the investment portion real quick. When I 0:32:11.040 --> 0:32:14.800 first started to on startings and the minimum to invest 0:32:14.840 --> 0:32:17.800 in fan base was two hundred and forty five dollars, right, 0:32:18.360 --> 0:32:20.960 the minimum to investment fan base now is three hundred 0:32:21.000 --> 0:32:23.720 and ninety nine dollars. The minimum to invest starting dot 0:32:23.760 --> 0:32:26.960 comflash fan base shout out. But what I say is 0:32:27.000 --> 0:32:31.280 more important that is that there are hundreds no, thousands 0:32:31.320 --> 0:32:34.560 of users on fan base that have made the money 0:32:35.160 --> 0:32:38.719 using fan base that they invested in fan base. So 0:32:39.160 --> 0:32:42.360 it's not about I'm not telling everybody to get on 0:32:42.400 --> 0:32:44.480 here and think that you're going to be a multimillionaire. 0:32:44.800 --> 0:32:48.280 But I do believe that most people have enough money 0:32:48.680 --> 0:32:53.080 to make monthly the ability to pay their rent or 0:32:53.320 --> 0:32:55.880 you know, to get gas or put food in refrigerator. 0:32:55.960 --> 0:32:58.320 Like we I see people making that amount of money. 0:32:58.320 --> 0:33:00.520 I see a user, you know, make there's a user 0:33:00.560 --> 0:33:03.480 that's made ten thousand dollars this year that has less 0:33:03.480 --> 0:33:06.800 than thirty five hundred followers, an extra ten thousand dollars 0:33:06.840 --> 0:33:09.320 a year, Like the average American's out is forty thousand dollars. 0:33:09.480 --> 0:33:11.520 You're making a quarter of what you would have to 0:33:11.560 --> 0:33:13.760 do to get to make the bare metium as a 0:33:13.760 --> 0:33:16.440 salary in this country just making content. And it's not 0:33:16.520 --> 0:33:18.240 it's not like you have to sit live and stream 0:33:18.280 --> 0:33:20.720 all day long. You post content. People subscribing, they make 0:33:20.760 --> 0:33:22.600 that money. So if I can make somebody, if I 0:33:22.640 --> 0:33:25.080 can make enough money to put gas in my car 0:33:25.280 --> 0:33:27.400 just by posting content, I'm with If I'm a young kid, 0:33:27.520 --> 0:33:28.280 of course I would do that. 0:33:28.320 --> 0:33:29.880 I'm can feed Feed myself. 0:33:29.920 --> 0:33:31.840 I don't have to get it, and then that's just 0:33:32.240 --> 0:33:36.200 that's like one hundred subscribers again, But if you know, 0:33:36.280 --> 0:33:39.160 you get five thousand people, five thousand people are a 0:33:39.240 --> 0:33:41.600 small number of people, and there's six billion people on 0:33:41.600 --> 0:33:44.560 the planet. For five thousand people paying you two thousand 0:33:44.600 --> 0:33:47.400 and fifty cents a month, it's twelve thousand, five hundred 0:33:47.440 --> 0:33:49.520 a month, one hundred and fifty thousand dollars a year. 0:33:49.880 --> 0:33:52.320 That's more than ninety seven percent of American to make. 0:33:53.000 --> 0:33:55.560 And that's just five thousand people. So it's like it's 0:33:55.600 --> 0:33:58.880 not you know, if we took that down, like I said, 0:33:58.880 --> 0:34:01.840 we took that down to five hundred people, you're still 0:34:01.840 --> 0:34:05.600 making fifteen thousand dollars a year. Who who wants to 0:34:05.600 --> 0:34:07.760 try to extra fifteen thousand dollars a year in America? 0:34:07.960 --> 0:34:11.040 Like just start making content. It's like it's a no 0:34:11.160 --> 0:34:11.680 brighter than me. 0:34:12.840 --> 0:34:16.839 We spoke two years ago from you're a person and 0:34:17.440 --> 0:34:20.560 from all the signs right, people are making money right 0:34:20.960 --> 0:34:25.080 flunctuates depending on the user, how many people probowers they have, 0:34:26.680 --> 0:34:28.520 the companies make going and it's probable. 0:34:30.400 --> 0:34:31.879 I asked you the end, so I ask you now 0:34:32.280 --> 0:34:35.160 mergers and acquisitions is always a part of business. Have 0:34:35.320 --> 0:34:36.360 the phone's been ringing? 0:34:36.400 --> 0:34:38.640 Even more so as you continue to innovate, as you 0:34:38.719 --> 0:34:41.560 continue to what I disrupt social media in a sense 0:34:41.560 --> 0:34:44.160 where you can start revolutionizing. 0:34:43.480 --> 0:34:47.080 They have the phone calls been coming in just for no. 0:34:47.239 --> 0:34:51.800 I'm gonna tell you why, because fan base is a 0:34:52.080 --> 0:34:56.440 I always say there's two phases to success in building businesses. 0:34:56.680 --> 0:34:58.759 It's to beat them phase and it's the join them phase. 0:34:59.120 --> 0:35:01.640 We're still in beat them. They're still sitting back like 0:35:01.800 --> 0:35:03.279 I'm going to see here really going to raise the. 0:35:03.239 --> 0:35:06.680 Seventeen million dollars and really like change the game and 0:35:06.719 --> 0:35:09.080 the way that he does. One thing people, One thing 0:35:09.120 --> 0:35:14.200 that Trump's grace is green is money. And so I 0:35:14.280 --> 0:35:17.440 and I think I've had the best, like you know, 0:35:17.560 --> 0:35:20.640 example in someone seeing the way that Tyler Perry built 0:35:20.640 --> 0:35:21.160 his business. 0:35:21.360 --> 0:35:23.520 At first it was all beat him. They was like, 0:35:23.680 --> 0:35:25.200 oh well, now we got to join him. You know, 0:35:25.239 --> 0:35:28.239 at some point in the beginning, there were no deals, 0:35:28.239 --> 0:35:30.200 but then it was TBS and there was a Lion's Game. 0:35:30.239 --> 0:35:33.120 There was owned and then it became Netflix and Amazon 0:35:33.200 --> 0:35:35.879 and now it's like okay, cool, it's BT's like okay, here, 0:35:36.480 --> 0:35:39.839 so fan base is always until we get the we're 0:35:39.840 --> 0:35:41.359 going to be in the beat up phase because this 0:35:41.440 --> 0:35:43.880 is this is majorly disruptive in the way that I 0:35:43.920 --> 0:35:45.880 say all the time. Again, it's like, I think that 0:35:45.960 --> 0:35:50.239 this is one of the most pivotal moments in technology, 0:35:50.880 --> 0:35:56.600 social media and wealth building because we've never been here before. 0:35:57.000 --> 0:36:00.319 You cannot name a time that there's been a a 0:36:00.440 --> 0:36:03.680 social media company that's been founded that allows the public 0:36:03.719 --> 0:36:08.239 to invest. So now anybody without restriction can actually own 0:36:08.280 --> 0:36:12.080 part of something that they use and then there's no earners. 0:36:12.120 --> 0:36:12.480 What's up? 0:36:12.560 --> 0:36:15.040 You ever walk into a small business and everything just 0:36:15.200 --> 0:36:18.400 works like the checkout is fast, the receipts are digital, 0:36:18.920 --> 0:36:21.880 tipping is a breeze, and you're out the door before 0:36:21.880 --> 0:36:26.040 the line even builds odds are they're using Square. We 0:36:26.200 --> 0:36:28.759 love supporting businesses that run on Square because it just 0:36:28.800 --> 0:36:32.040 feels seamless. Whether it's a local coffee shop, a vendor 0:36:32.080 --> 0:36:34.319 at a pop up market, or even one of our 0:36:34.400 --> 0:36:38.040 merch partners. Square makes it easy for them to take payments, 0:36:38.239 --> 0:36:42.000 manage inventory, and run their business with confidence, all from 0:36:42.080 --> 0:36:45.480 one simple system. If you're a business owner or even 0:36:45.560 --> 0:36:49.080 just thinking about launching something soon Square is hands down 0:36:49.120 --> 0:36:51.440 one of the best tools out there to help you start, 0:36:51.840 --> 0:36:55.399 run and grow. It's not just about payments, it's about 0:36:55.440 --> 0:36:57.840 giving you time back so you can focus on what 0:36:58.040 --> 0:37:01.000 matters most ready. To see how Square where can transform 0:37:01.040 --> 0:37:05.920 your business, visit Square dot com backslash go backslash eyl 0:37:06.160 --> 0:37:11.160 to learn more that Square dot com backslash, go backslash eyl. 0:37:11.320 --> 0:37:14.520 Don't wait, don't hesitate. Let's Square handle the back end 0:37:14.719 --> 0:37:21.000 so you can keep pushing your vision forward. This episode 0:37:21.000 --> 0:37:22.960 is brought to you by P and C Bank. A 0:37:23.000 --> 0:37:25.960 lot of people think podcasts about work are boring, and 0:37:26.120 --> 0:37:30.200 sure they definitely can be, but understanding a professionals routine 0:37:30.239 --> 0:37:33.040 shows us how they achieve their success little by little, 0:37:33.440 --> 0:37:37.080 day after day. It's like banking with P and C Bank. 0:37:37.560 --> 0:37:40.360 It might seem boring to save, plan and make calculated 0:37:40.360 --> 0:37:43.480 decisions with your bank, but keeping your money boring is 0:37:43.520 --> 0:37:46.839 what helps you live or more happily fulfilled life. P 0:37:46.960 --> 0:37:51.760 and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly 0:37:51.840 --> 0:37:54.440 Boring since eighteen sixty five is a service mark of 0:37:54.480 --> 0:37:57.719 the PNC Financial Service Group, Inc. P and C Bank 0:37:58.160 --> 0:38:01.240 National Association Member Fee. 0:38:02.120 --> 0:38:05.800 An illegal alien from Guatemala charged with raping a child 0:38:05.840 --> 0:38:09.600 in Massachusetts. An MS thirteen gang member from Al Salvador 0:38:09.880 --> 0:38:14.000 accused of murdering a Texas man of Venezuelan charged with 0:38:14.080 --> 0:38:17.960 filming and selling child pornography in Michigan. These are just 0:38:18.080 --> 0:38:21.840 some of the heinous migrant criminals caught because of President 0:38:21.840 --> 0:38:25.399 Donald J. Trump's leadership. I'm Christy nom the United States 0:38:25.440 --> 0:38:30.240 Secretary of Homeland Security. Under President Trump, attempted illegal border 0:38:30.280 --> 0:38:33.839 crossings are at the lowest levels ever recorded, and over 0:38:33.880 --> 0:38:37.120 one hundred thousand illegal aliens have been arrested. If you 0:38:37.200 --> 0:38:41.040 are here illegally, your next you will be fine nearly 0:38:41.120 --> 0:38:45.160 one thousand dollars a day, imprisoned and deported, you will 0:38:45.160 --> 0:38:48.839 never return. But if you register using our CBP home 0:38:48.880 --> 0:38:52.240 app and leave now, you could be allowed to return legally. 0:38:52.600 --> 0:38:57.360 Do what's right. Leave now. Under President Trump, America's laws, 0:38:57.520 --> 0:38:59.960 border and families will be protected. 0:39:00.080 --> 0:39:02.200 Sponsored by the United States Department of Homeland Security. 0:39:02.320 --> 0:39:05.000 Limit into how fast you know or how big these 0:39:05.040 --> 0:39:07.000 companies can get. When you're looking at Facebook as a 0:39:07.000 --> 0:39:07.680 market cap. 0:39:07.520 --> 0:39:10.359 Of two point two trillion dollars, I'm not even thinking 0:39:10.400 --> 0:39:13.200 about two trillion. I mean, granted, like. 0:39:13.200 --> 0:39:14.920 Cool, I think Facebook is something that's like a one 0:39:14.960 --> 0:39:18.760 in a lifetime, you know company, But there's still companies. 0:39:18.760 --> 0:39:21.920 Even if you remove Instagram from Facebook, it's still the 0:39:22.000 --> 0:39:23.480 three hundred billion dollar company. 0:39:24.040 --> 0:39:24.600 You know what I'm saying. 0:39:24.640 --> 0:39:27.400 If you're looking at TikTok separated from bite dad to 0:39:27.520 --> 0:39:31.000 still probably one hundred two hundred billion dollar. 0:39:30.880 --> 0:39:33.560 Company've just got every one six. Yeah. So I'm like, 0:39:34.080 --> 0:39:37.359 do you understand? Like how how okay? So now so 0:39:37.520 --> 0:39:37.960 think of that. 0:39:38.000 --> 0:39:40.439 So think of now one hundred and sixty billion dollar 0:39:40.520 --> 0:39:42.120 company that's owned. 0:39:41.800 --> 0:39:44.160 By people that look like us. 0:39:44.440 --> 0:39:46.719 We ain't never been there before. I don't even know 0:39:46.719 --> 0:39:48.520 who the richest black person on the planet is. 0:39:48.800 --> 0:39:52.080 I'm I'm never like nineteen billion. What's the rich nineteen billion? 0:39:52.400 --> 0:39:55.600 Who didn't know? Yeah, like nineteen billion. So I'm just saying, like, yo, 0:39:55.840 --> 0:39:58.759 we never, we never. And my point is. 0:39:58.680 --> 0:40:02.520 For us to to really build and make and transform 0:40:02.719 --> 0:40:04.120 wealth not only is it. 0:40:04.120 --> 0:40:07.319 And my goal is not to be worth more than 0:40:07.400 --> 0:40:08.040 nineteen billion. 0:40:08.080 --> 0:40:11.040 My goal is to create ten or fifteen other people 0:40:11.120 --> 0:40:13.120 that are worth are multi billionaires. 0:40:13.400 --> 0:40:15.239 Because technology is the fastest way. 0:40:15.440 --> 0:40:17.600 I heard Robert and Smith say this. He's like technology 0:40:17.600 --> 0:40:19.200 is a fastest way to do a wealth in this texture, 0:40:19.520 --> 0:40:23.000 It's like all these eight of the top ten richest 0:40:23.000 --> 0:40:29.239 people on the planet are in technology Oracle, Microsoft, Amazon, Google, Facebook, 0:40:29.920 --> 0:40:33.279 and Elon with Tesla and acts like it's like, yo, 0:40:33.440 --> 0:40:35.239 those are all the people only people from Bernard Orna 0:40:35.440 --> 0:40:37.759 is the number one guy and he owned every other 0:40:37.840 --> 0:40:41.000 brand in existence, and you know, and then Berkshire Hathaway. 0:40:42.360 --> 0:40:44.160 You know what I'm saying. But it's technology. 0:40:44.239 --> 0:40:46.840 So we're in a We're in an unprecedented amount of 0:40:46.920 --> 0:40:50.359 time a time because ownership and equity in these in 0:40:50.400 --> 0:40:53.279 these tech companies. These are companies that can be worth 0:40:53.520 --> 0:40:56.520 one hundred billion, you know, like one hundred billion dollars, 0:40:56.560 --> 0:40:59.480 one hundred and sixty billion dollars. It's totally achievable. We've 0:40:59.520 --> 0:41:02.480 never been there before. And I think, you know, I 0:41:02.520 --> 0:41:07.080 think we have the the the unique opportunity to gain 0:41:07.160 --> 0:41:10.040 I was telling I was telling people here today, I 0:41:10.080 --> 0:41:11.160 was like, Yo, we get this wrong. 0:41:12.080 --> 0:41:13.600 You can't don't blame. 0:41:13.400 --> 0:41:17.440 Me because it's literally here for us to take advantage of. 0:41:17.960 --> 0:41:21.439 And that's why, you know, the rays that we're doing 0:41:21.520 --> 0:41:25.759 was so important because it gives there's no excuses. Once 0:41:25.800 --> 0:41:29.440 I raise seventeen million dollars. I give everybody everything that 0:41:29.480 --> 0:41:32.720 they want. I give every If you want certain songs, 0:41:32.760 --> 0:41:35.120 you want, certain functionalities, you want, certain features you want, 0:41:35.280 --> 0:41:38.839 I can give you that in a year, Like by 0:41:38.880 --> 0:41:40.160 the end of the year, I can give you most 0:41:40.160 --> 0:41:41.440 of the things that you want, and then we get 0:41:41.480 --> 0:41:43.080 to do the things that I want to do. There's 0:41:43.080 --> 0:41:44.480 some of the things that I talk about, like we 0:41:44.840 --> 0:41:47.400 just launched branded audio on web and I was like, 0:41:47.440 --> 0:41:49.200 no one's doing that, And that's what I'm saying, like, man, 0:41:49.239 --> 0:41:52.360 if they're not doing this, there's so many other ideas 0:41:52.400 --> 0:41:55.000 that are available that we can do. So I'm like, again, 0:41:55.480 --> 0:41:57.520 they're gonna be in beta phase until they say, okay, 0:41:57.680 --> 0:42:00.640 now we got to go invest in them, because obviously 0:42:00.719 --> 0:42:01.600 he's going to keep going. 0:42:01.760 --> 0:42:04.799 So so let me ask you this, how what's the 0:42:04.840 --> 0:42:07.640 path to profitability? Like how do you make money in 0:42:07.680 --> 0:42:09.880 the long term even for investors right to know like, Okay, 0:42:09.880 --> 0:42:12.520 I'm investing in this company and then essentially they're going 0:42:12.560 --> 0:42:15.120 to be profitable or so on, go public because you 0:42:15.120 --> 0:42:18.240 say you don't like advertisers, So the subscription based model, 0:42:18.520 --> 0:42:19.880 that's the only way that you're going to plan and 0:42:19.920 --> 0:42:20.319 make money. 0:42:20.400 --> 0:42:23.040 No, that's not the only way. There's not there's I can't. 0:42:23.120 --> 0:42:24.680 I can't tell you every other way we're going to 0:42:25.320 --> 0:42:27.439 make money because there are other things there. There's there's 0:42:27.520 --> 0:42:30.239 layers on top of layers that are built in ways 0:42:30.239 --> 0:42:32.080 that you get you can do this, But I'm keeping 0:42:32.080 --> 0:42:35.280 those a secret because again, nobody thinks of this stuff. 0:42:35.320 --> 0:42:36.719 So it's like, okay, cool. 0:42:38.040 --> 0:42:43.480 To explain to people that invest in aguity, crowdfunding and 0:42:43.560 --> 0:42:46.959 startups this way. You're investing in a period of time 0:42:47.000 --> 0:42:50.000 where you know ninety nine percent of the general public 0:42:50.040 --> 0:42:53.879 never gets this opportunity because these opportunities have been available to. 0:42:55.600 --> 0:42:57.239 Accredited investors for so long. 0:42:57.280 --> 0:42:59.759 And I talk about that that's so important because that 0:42:59.840 --> 0:43:01.480 is say that has nothing to do with the race 0:43:01.520 --> 0:43:03.400 at that point, Like the credit industry rule has been 0:43:03.400 --> 0:43:07.439 in effect since nineteen thirty three, and so up until 0:43:07.440 --> 0:43:11.040 twenty fifteen, you know, eighty eighty three years or however 0:43:11.120 --> 0:43:14.359 long it was, you couldn't invest. So now, when you're 0:43:14.400 --> 0:43:17.400 investing in seed stage companies, you ride the lacke of 0:43:17.400 --> 0:43:18.960 the company. So I say, you're with us to the 0:43:18.960 --> 0:43:21.520 moon or to the ground, right, And it's a risk 0:43:21.560 --> 0:43:25.400 neier investment. But the differences with retail investors and equity 0:43:25.440 --> 0:43:29.400 crowdfunding is with institutional investors, they will require these minimums 0:43:29.480 --> 0:43:31.160 like you need to put ten thousand and fifty thousand 0:43:31.239 --> 0:43:32.400 in to invest right. 0:43:32.680 --> 0:43:34.799 And everybody can have ten thousand and fifty thousand dollars, 0:43:34.880 --> 0:43:36.320 but four ninety nine. 0:43:36.640 --> 0:43:40.680 People don't spend four ninety nine at Mastros or some 0:43:40.840 --> 0:43:43.279 steakhouse or at the strip club or whatever it is. 0:43:43.760 --> 0:43:45.640 And that might spend four ninety nine like two or 0:43:45.640 --> 0:43:47.799 three times this month. Do you understand what I'm saying? 0:43:47.840 --> 0:43:50.520 Because people are say like, okay, what people don't really 0:43:50.520 --> 0:43:52.560 have money, Like the black community spends two point two 0:43:52.600 --> 0:43:55.719 trillion dollars a year on shit. You're telling me that 0:43:56.000 --> 0:43:58.319 we you can't take a weekend off and say, look, 0:43:58.360 --> 0:44:01.080 I'm not going to spend four ninety nine on this 0:44:01.160 --> 0:44:04.680 fresh fit and you know, and taking some girl to 0:44:04.760 --> 0:44:07.400 dinner or whatever, buy whatever we buy and say just 0:44:07.400 --> 0:44:09.759 this one, this one moment, I'm gonna throw some money 0:44:09.760 --> 0:44:11.399 in here, in this in this startup, and I'm gonna 0:44:11.440 --> 0:44:13.440 forget about it. And what happens is you ride with 0:44:13.560 --> 0:44:17.279 us to what it's called a liquidity event. 0:44:17.560 --> 0:44:18.880 So how people exit companies. 0:44:18.880 --> 0:44:22.799 So when you hear these conversations about these entertainers, celebrities, 0:44:22.920 --> 0:44:25.520 people that are investing in startups. When when William was 0:44:25.520 --> 0:44:27.759 talking about how he was in Beats and here he 0:44:27.800 --> 0:44:30.279 was an investor in Beats and then he got paid 0:44:30.280 --> 0:44:32.560 when they sold to Apple. So that's the same way. 0:44:32.560 --> 0:44:35.439 It's either an acquisition or you go public. So when 0:44:35.440 --> 0:44:38.839 you hear people like okay, coinbase goes public whatever, then 0:44:38.840 --> 0:44:40.960 they cash out their shares. So those are the two 0:44:41.000 --> 0:44:45.359 eventualities for fan bases. Either going public, which is like okay, cool, 0:44:45.400 --> 0:44:47.600 we go public. We're putting a portion of the company 0:44:47.680 --> 0:44:50.560 available for the general public for retail and retail investment 0:44:50.640 --> 0:44:52.480 to investment, but that's way after the fact. That's a 0:44:52.640 --> 0:44:54.799 that's after we've already done. We already got to a 0:44:54.840 --> 0:44:57.560 billion dollar valuation. It's like, cool, you're gonna you're gonna 0:44:57.560 --> 0:44:59.120 see that return of your investment, but it's gonna be 0:44:59.160 --> 0:45:02.600 way slower than and these these high risk investments that 0:45:02.680 --> 0:45:05.960 don't require a lot of capital, or someone that is 0:45:06.000 --> 0:45:09.400 not you know, I guess a too big of a 0:45:09.440 --> 0:45:12.360 competitor will come along and purchase us, like outside of 0:45:12.360 --> 0:45:14.520 what's going on, because I know Facebook is not in 0:45:14.560 --> 0:45:17.000 Facebook wouldn't purchase us because the've already already are already 0:45:17.040 --> 0:45:19.200 on the head for trying to buy too much stuff anyway, 0:45:19.440 --> 0:45:21.000 So someone would be like, all right, cool, We're gonna 0:45:21.000 --> 0:45:24.120 come along and purchase fan base, and then everybody cashes 0:45:24.120 --> 0:45:25.440 out and walks. 0:45:25.200 --> 0:45:26.439 Off into the sunset with a bag. 0:45:26.840 --> 0:45:29.400 You know, are you finding that because I would imagine 0:45:29.400 --> 0:45:31.680 that a lot of the people who are using crowd 0:45:31.719 --> 0:45:33.719 card or using it for the first time, are you 0:45:33.760 --> 0:45:37.560 finding yourself having to go through an education process for 0:45:37.680 --> 0:45:41.200 some of the investors or are people because of the 0:45:41.280 --> 0:45:44.719 time and obviously the financial revolution that's happened, they're coming 0:45:44.760 --> 0:45:46.759 here with a different knowledge. 0:45:46.440 --> 0:45:50.279 Base when coming to no You know, the irony in 0:45:50.320 --> 0:45:53.720 that is that most people, I always say, politics and finance. 0:45:53.760 --> 0:45:55.240 You guys probably know this more than anything. 0:45:55.280 --> 0:45:55.680 It's like. 0:45:57.640 --> 0:45:59.320 When you guys start talking about some of the stuff 0:45:59.320 --> 0:46:01.120 you're talking about, ninety nine of a sudden of the 0:46:01.160 --> 0:46:04.000 people get intimidated and just turn off. You really have 0:46:04.080 --> 0:46:06.920 it's your responsibility to learn where you guys learn just 0:46:06.960 --> 0:46:08.759 as much as anything, Just as much as I learned 0:46:08.760 --> 0:46:12.040 about tech and and and investing in startups. It's your 0:46:12.120 --> 0:46:14.120 job to educate yourself on those things. And the same 0:46:14.120 --> 0:46:16.560 thing in politics, people feel like they're you're talking over 0:46:16.600 --> 0:46:18.080 their heads, so they don't want to They don't want 0:46:18.080 --> 0:46:19.360 to look stupid. They don't feel like, I don't know 0:46:19.400 --> 0:46:21.400 what the hell you're talking about, so they kind of 0:46:21.400 --> 0:46:22.919 act like they do there not in the head, like yeah, 0:46:23.000 --> 0:46:25.239 you know, I'm diverse and five, I got a portfolio. 0:46:25.360 --> 0:46:27.439 Don't know what none of that shit, queen like none 0:46:27.480 --> 0:46:29.120 of it, you know what I'm saying. So for me, 0:46:29.440 --> 0:46:33.600 I'm I'm I overshare the information because I feel like 0:46:33.600 --> 0:46:34.279 we need to know. 0:46:34.680 --> 0:46:37.800 And the way that I communicate is definitely. 0:46:38.800 --> 0:46:41.120 Something that I feel like everybody can understand when I 0:46:41.160 --> 0:46:43.799 when I use you know, when I like when I 0:46:43.840 --> 0:46:47.600 say you'll go, you'll go buy some some crazy tennis shoes, 0:46:47.640 --> 0:46:49.680 but you can spend that and actually have equity ownership 0:46:49.719 --> 0:46:52.200 in the company and explain how the process works and 0:46:52.239 --> 0:46:54.880 how you actually you know, you actually grow with the startup. 0:46:55.080 --> 0:46:57.080 All this stuff is new, So I don't. 0:46:56.880 --> 0:47:00.279 Mind sharing that information to people so that they're it's 0:47:00.320 --> 0:47:03.960 more than transparent, it's educational. I love putting us on 0:47:04.200 --> 0:47:06.560 I love telling people like, yo, this is the way 0:47:06.600 --> 0:47:08.839 to go this is how we do this, because not 0:47:08.880 --> 0:47:11.920 only for what fan base does, but for anybody that 0:47:11.960 --> 0:47:15.279 wants to fund their businesses. I've shared, I've recommend it now. 0:47:15.680 --> 0:47:18.800 I think five four or five companies to start engine. 0:47:18.920 --> 0:47:22.439 I think three of them gone to raising millions, raising 0:47:22.480 --> 0:47:25.239 million plus dollars. The other ones kind of almost met 0:47:25.239 --> 0:47:28.000 their goals. They didn't, but it's still me putting people 0:47:28.000 --> 0:47:31.160 in position to actually accomplish their dreams when they couldn't 0:47:31.200 --> 0:47:32.680 go get institutional capital. 0:47:33.719 --> 0:47:37.280 So as far as challenges, like, what are some challenges 0:47:37.360 --> 0:47:38.640 or threats into space fear. 0:47:39.600 --> 0:47:44.000 Well, I mean the first challenge is actually and I 0:47:44.000 --> 0:47:46.719 gotta I gotta say this again because I'm learning, I 0:47:46.800 --> 0:47:49.239 learned this process and I'm actually sharing the information that 0:47:49.280 --> 0:47:51.520 I'm just learning now. So when you when you apply 0:47:51.680 --> 0:47:59.279 for reggae reggae crowdfunding, they're different rules. So the REGCF 0:47:59.360 --> 0:48:01.799 space is a lot more lenient. So when I did 0:48:01.800 --> 0:48:03.840 the REXCF, when I raised at Timmy and in the REXCF, 0:48:04.239 --> 0:48:04.879 I could go on. 0:48:04.960 --> 0:48:08.720 Radio, I could go on TV. I could just say 0:48:08.760 --> 0:48:11.080 whatever I wanted to say and do what I wanted 0:48:11.080 --> 0:48:13.160 to do. When you move up to the REGA. 0:48:14.000 --> 0:48:19.719 Space, you are prohibited from going on live television, so 0:48:19.800 --> 0:48:21.840 any lock So I could never go on seeing it 0:48:21.920 --> 0:48:25.200 in Bloomberg or whatever, or live radio and promoting a raise. 0:48:25.320 --> 0:48:27.439 You can't do that. You can only promote the raise 0:48:27.440 --> 0:48:29.279 where there's a clickable link to. 0:48:29.320 --> 0:48:31.600 The rais and a clickable link to that filing that 0:48:31.640 --> 0:48:33.400 I say, that's a disclosure of all the stuff that 0:48:33.440 --> 0:48:33.759 you did. 0:48:34.040 --> 0:48:35.359 So that makes it very very hard. 0:48:35.480 --> 0:48:37.360 I'm fortunate to be able to be on a program 0:48:37.400 --> 0:48:39.360 like this or this is on the internet and on 0:48:39.400 --> 0:48:41.600 the web right, But the thing that makes that so 0:48:41.719 --> 0:48:45.439 difficult is like those rules I'm from nineteen ninety five, 0:48:46.120 --> 0:48:49.400 Like the equity crowdfundy came on in twenty fifteen, and 0:48:49.440 --> 0:48:52.040 I'm still having to bude by rules that were. 0:48:52.040 --> 0:48:55.600 From nineteen ninety five. So hopefully the SEC see some 0:48:55.680 --> 0:48:56.040 way to. 0:48:56.120 --> 0:48:59.719 Change that, because it's really hard to raise this type 0:48:59.760 --> 0:49:03.759 of capital without being able to have other ways other 0:49:03.840 --> 0:49:07.600 than just knowing people or spending an enormous amount of 0:49:07.600 --> 0:49:10.280 money creating ads and marketing. I could go run ads 0:49:10.320 --> 0:49:12.920 on Facebook and Instagram, but a lot of times you 0:49:13.040 --> 0:49:15.560 spend two hundred thousand dollars for every million that you're raised, 0:49:16.080 --> 0:49:18.719 So even I would still spend spending a million dollars 0:49:18.760 --> 0:49:20.800 just to raise the money that I need and running 0:49:20.840 --> 0:49:23.640 ads and that doesn't help. So I'm being as shrewd 0:49:23.640 --> 0:49:25.560 as I can and efficient as I can and doing this. 0:49:25.640 --> 0:49:31.200 That's the biggest challenges is how we navigate this new 0:49:31.320 --> 0:49:35.160 level of crowdfunding to be able. 0:49:34.920 --> 0:49:35.359 To do that. 0:49:35.480 --> 0:49:38.759 Other than that, I think we have to prepare for 0:49:38.960 --> 0:49:41.920 the things that we don't know. The other I think 0:49:42.520 --> 0:49:46.719 I don't. I always know that they're challenges, but I 0:49:46.760 --> 0:49:48.600 don't look at them as challenges. I just look at 0:49:48.640 --> 0:49:51.040 them as puzzles that I have to solve, or things 0:49:51.040 --> 0:49:52.759 that I have to learn, or obstacles that you have 0:49:52.800 --> 0:49:56.920 to overcome. It's not like it's not like I'm stuck. 0:49:57.160 --> 0:50:00.400 I believe that capital again, I comfantly believe that capital 0:50:00.520 --> 0:50:04.200 is probably the biggest hurdle to most anyone building their businesses. 0:50:04.320 --> 0:50:06.080 We have, but we don't have We don't have problem 0:50:06.400 --> 0:50:10.120 creating great ideas. There's great ideas and all types of 0:50:10.160 --> 0:50:12.160 companies that create and get created every day. We don't 0:50:12.200 --> 0:50:14.400 have issues with that. It's how we scale these business 0:50:14.239 --> 0:50:16.960 It's the ability to take capital and then scale your 0:50:16.960 --> 0:50:18.719 business to the next level. I know people that have 0:50:19.120 --> 0:50:21.680 phenomenal businesses, but it's the access to capital how we 0:50:21.800 --> 0:50:23.800 scale those business that's the biggest challenges. 0:50:23.840 --> 0:50:27.479 The money. So as you're scaling, you got to build 0:50:27.480 --> 0:50:28.080 a team. 0:50:28.239 --> 0:50:30.440 Yeah, right, So to talk about that process because not 0:50:30.480 --> 0:50:32.759 only are you the founder and CEO of it, but 0:50:32.800 --> 0:50:36.240 you're also making sure that everything here is running smoothly. 0:50:36.320 --> 0:50:38.839 You got to have a process and in the innovation too, 0:50:38.880 --> 0:50:40.759 So how do you how are you balancing all these 0:50:40.840 --> 0:50:42.040 roles with us? 0:50:42.080 --> 0:50:47.080 So well, you have to kind of like delegate. You 0:50:47.080 --> 0:50:49.600 have to actually delegate responsibility. So I've done a lot 0:50:49.640 --> 0:50:55.760 of delegating responsibility my my CTO COO Romero Cannabis, brilliant 0:50:55.760 --> 0:51:03.000 guy Silvanna, who is our finance director, who's our terim CFO, 0:51:03.680 --> 0:51:07.120 and then underneath them, they're building teams. 0:51:07.239 --> 0:51:09.760 So it's my job. Like I'm a visionary. I accept 0:51:09.760 --> 0:51:10.680 my role as a visionary. 0:51:11.040 --> 0:51:13.640 I'm the big idea is that you know overall general 0:51:13.680 --> 0:51:15.759 direction of what Families is going to do, But I 0:51:15.800 --> 0:51:20.480 trust the people that I've brought on board to handle 0:51:20.520 --> 0:51:25.080 those fine details. But I also educate myself on that process, 0:51:25.200 --> 0:51:27.200 especially the way that we did it through equity crowdfulding. 0:51:27.200 --> 0:51:29.520 I say this all the time thereculary crowdfundling. I know 0:51:29.600 --> 0:51:32.000 more about my business than most people do because I 0:51:32.040 --> 0:51:33.000 got to know the finances. 0:51:33.040 --> 0:51:34.600 I got to know the corporate structure. 0:51:34.600 --> 0:51:36.400 I got to know the taxes and the legal I 0:51:36.400 --> 0:51:38.520 got to know all these sec rules and regulations and 0:51:38.520 --> 0:51:40.359 all these things that most people never think about. They 0:51:40.400 --> 0:51:43.000 just go get money from some investor and they'll realize 0:51:43.560 --> 0:51:48.520 they're screwed up or what they own. So this raise 0:51:48.640 --> 0:51:50.839 is also going to help us actually attract more talent. 0:51:50.920 --> 0:51:52.719 I think, you know, we need we need to be 0:51:52.719 --> 0:51:54.880 able to hire people that are worth two hundred and 0:51:54.880 --> 0:51:56.960 fifty thousand dollars a year of salary, Like we need 0:51:57.000 --> 0:51:58.400 to be able to hire people that. We need to 0:51:58.400 --> 0:52:02.400 be able to hire people that really no marketing and 0:52:02.440 --> 0:52:07.000 no advertising and no different forms of development. 0:52:07.040 --> 0:52:08.319 You know what I'm saying. It's not like, you know, 0:52:08.400 --> 0:52:10.160 we I think the team can build anything. 0:52:10.200 --> 0:52:12.120 But it doesn't hurt to be able to say, oh, 0:52:12.239 --> 0:52:14.920 you're the guy that builds algorithms on TikTok or used 0:52:14.920 --> 0:52:17.000 to work there, Yeah, come over here and build ours, 0:52:17.040 --> 0:52:19.000 you know, and we can we'll be able to actually 0:52:19.040 --> 0:52:22.040 get talent that competes in all these other companies to 0:52:22.040 --> 0:52:23.680 be able to do that, And that's the most important thing. 0:52:23.680 --> 0:52:25.279 I think people know. We always say I always say 0:52:25.280 --> 0:52:26.600 people you know, they. 0:52:26.560 --> 0:52:28.600 Say, well do you have you know, well what about 0:52:28.640 --> 0:52:31.000 the algorithm or what about And I'm like, yo, like 0:52:31.360 --> 0:52:34.520 you don't understand how much all this costs so and 0:52:34.640 --> 0:52:35.399 able to do that. 0:52:35.560 --> 0:52:35.800 I'm not. 0:52:36.239 --> 0:52:38.040 I'm not some guy that can go get forty five 0:52:38.040 --> 0:52:41.879 million bucks and buy Ferrari and say I'm a tech 0:52:41.960 --> 0:52:45.759 founder and not do anything with it. Like I would 0:52:45.800 --> 0:52:51.000 spend that money very meticulously. And I again, I know 0:52:51.200 --> 0:52:57.160 I being in Atlanta also stretches our paper crazy because 0:52:57.480 --> 0:53:00.000 we're not in San Francisco, where you know, you got 0:53:00.120 --> 0:53:02.279 to pay people two hundred fifty thousand dollar salaries just 0:53:02.280 --> 0:53:04.719 a walking there. The real estate so crazy expensive, and 0:53:04.800 --> 0:53:07.279 I'm isolated. I like the fact that I'm here. I 0:53:07.320 --> 0:53:10.319 like that I'm underestimated. So I get to build a 0:53:10.360 --> 0:53:13.120 team that that no one thinks is you know, is 0:53:13.160 --> 0:53:15.279 going to do that. But they have to respect the technology. 0:53:15.320 --> 0:53:17.920 There's nobody that there's nobody even when I even when 0:53:17.920 --> 0:53:19.800 I caught off, even when I got off the phone 0:53:20.239 --> 0:53:23.719 with Chamelionaire, he was like, and I gave him some 0:53:23.760 --> 0:53:25.319 of the things, the other things that we're working on 0:53:25.400 --> 0:53:28.319 behind the scenes. He goes, He goes, this doesn't look 0:53:28.360 --> 0:53:29.880 like you've raised ten million dollars. You know, this is 0:53:29.880 --> 0:53:32.800 like you raised forty I said, I know. I said, 0:53:32.920 --> 0:53:34.839 that's why I like, don't get I said, you gave 0:53:34.880 --> 0:53:36.360 me forty million dollars. You know what I would do 0:53:36.400 --> 0:53:40.000 with forty million dollars, man, I wouldn't. There's nothing you know, 0:53:40.120 --> 0:53:43.680 I'm not. I'm so I'm so serious about this, And 0:53:43.760 --> 0:53:47.960 my tongue doesn't change, my energy doesn't change, my commitment 0:53:48.000 --> 0:53:48.960 to this doesn't change. 0:53:49.400 --> 0:53:52.520 I really love this, So I don't mind missing out 0:53:52.560 --> 0:53:55.360 on going to all the cool stuff. 0:53:56.960 --> 0:54:00.399 This is what I do every day all day because 0:54:00.440 --> 0:54:03.759 I know how important it is for the opportunity for 0:54:03.840 --> 0:54:06.799 us to put ourselves in position with generational wealth and monoculization. 0:54:06.960 --> 0:54:08.680 So I take it super serious. 0:54:09.120 --> 0:54:12.960 So like for social media, you know, engagement, that's like 0:54:13.000 --> 0:54:15.480 a big thing as far as you know, driving and 0:54:15.560 --> 0:54:16.960 putting you in the algorithm. 0:54:17.320 --> 0:54:23.359 So just social media landscape, talk about engagement, like where 0:54:23.360 --> 0:54:26.480 did that even come from? How is that game rigged? 0:54:27.400 --> 0:54:30.719 How the whole engagement play and then how does your 0:54:30.800 --> 0:54:33.759 platform relate to that when it comes to engagement. 0:54:34.280 --> 0:54:39.800 So so typically so social media was really based off following, right, followers. 0:54:39.800 --> 0:54:41.960 When you think of my space, you think of Facebook 0:54:42.560 --> 0:54:45.279 or friends, you know, stuff like that. And that was 0:54:45.320 --> 0:54:48.120 when we were in a time where social media was 0:54:48.120 --> 0:54:51.520 so much more personal. And I think we're forgetting that 0:54:51.880 --> 0:54:54.200 this is a young person's game. And so I was 0:54:54.280 --> 0:54:56.239 laughing the other day. I was like, honestly, I was 0:54:56.239 --> 0:54:58.600 talking about we were talking about freaking it and how 0:54:58.760 --> 0:55:01.640 like for the generation of people that got on Facebook 0:55:02.000 --> 0:55:04.520 in two thousand and four, Facebook turns twenty this year, right, 0:55:04.960 --> 0:55:08.399 So when people got on Facebook in two thousand and four, 0:55:08.520 --> 0:55:11.279 it's probably the first place where you can digitally say 0:55:11.280 --> 0:55:13.799 in your photos. So for anybody on Facebook from two 0:55:13.800 --> 0:55:15.400 thousand and nine to two thousand and ten, it's basically 0:55:15.400 --> 0:55:17.520 a photo album for you. Now it's like where your 0:55:17.560 --> 0:55:20.279 oldest girlfriends are, all the stuff you did. 0:55:20.160 --> 0:55:21.719 In college, all that kind of stuff is there. 0:55:22.000 --> 0:55:24.759 And there wasn't so much about engagement as we moved 0:55:24.760 --> 0:55:28.800 into the as video entered into social media, it's views, right, 0:55:28.920 --> 0:55:33.080 it's in those views scale you're following. But what happens 0:55:33.120 --> 0:55:36.759 with advertising is that now that you add video to 0:55:36.800 --> 0:55:40.040 social media. And again I'm saying the quiet part out loud. 0:55:40.400 --> 0:55:43.319 It's just simply think of this. Every single person that's 0:55:43.360 --> 0:55:45.800 on social media that can put video on their page. 0:55:45.880 --> 0:55:47.200 You are a television network. 0:55:47.400 --> 0:55:51.040 So for that very reason, however you measure or monetize 0:55:51.080 --> 0:55:54.759 advertising with television, you can monitor and measure advertising on 0:55:54.800 --> 0:55:57.560 social media. So if you have seventeen or eighteen million 0:55:57.600 --> 0:56:00.680 followers on social media right now, you have the monetary 0:56:00.680 --> 0:56:04.520 equivalent of Sunday Night Football on NBC, you have that visibility. 0:56:04.719 --> 0:56:07.560 If you got one hundred million followers, right, you have, 0:56:08.680 --> 0:56:11.640 you have the advertising equivalent of the Super Bowl. Right 0:56:12.160 --> 0:56:16.359 So Facebook knows that and the advertisers know that, and 0:56:16.400 --> 0:56:19.160 so if there was no there was no limit on engagement, 0:56:19.840 --> 0:56:22.680 then they would bypass these companies and come directly to 0:56:22.719 --> 0:56:24.360 people to say, hey. 0:56:24.560 --> 0:56:27.919 Why you're doing this thing you're doing on your page 0:56:28.000 --> 0:56:30.360 whatever it is, and one hundred million people can see you. 0:56:30.400 --> 0:56:31.640 We're seventeen million people who. 0:56:31.520 --> 0:56:33.759 Do that, hold this can for us and say hey, 0:56:33.800 --> 0:56:37.400 by the way, go buy this. And that's advertising to 0:56:37.440 --> 0:56:41.200 seventeen million people. And the difference is these programs come 0:56:41.239 --> 0:56:44.960 on one time a week, once a year, right, but 0:56:45.000 --> 0:56:47.640 imagine being able to reach seventeen million people twenty four 0:56:47.640 --> 0:56:50.360 hours a day, seven days a week. That's the quiet 0:56:50.400 --> 0:56:51.960 part out now that I al was saying, people are 0:56:52.120 --> 0:56:55.840 putting that portion together. It's like we're all moving. Social 0:56:55.840 --> 0:56:58.840 media is television now, we are. Our behaviors changed. So 0:56:58.880 --> 0:57:03.359 with fan base, I want to say, following is dead, 0:57:03.880 --> 0:57:07.759 engagement is the new is the new King of the hill, right, 0:57:07.800 --> 0:57:10.359 it's the people want to be seen, and so. 0:57:10.680 --> 0:57:11.560 I would I would. 0:57:11.760 --> 0:57:14.160 I would much rather have a million people see my 0:57:14.280 --> 0:57:17.920 video and have ten thousand followers, and have a million 0:57:17.960 --> 0:57:20.120 followers that have ten thousand people see my video, which 0:57:20.160 --> 0:57:22.720 is happening now, which more people are like Yo, I 0:57:22.720 --> 0:57:24.960 got fifteen million followers, and every time I supposed a video, 0:57:25.000 --> 0:57:27.360 I get eighty six thousand views. I'll want to foot it. 0:57:27.800 --> 0:57:29.480 You know what I'm saying. I want people to have 0:57:29.920 --> 0:57:32.280 one point five million, one point five million views and 0:57:32.320 --> 0:57:35.080 have eighty six thousand followers, because I'm not showing We 0:57:35.120 --> 0:57:37.560 don't show people content based on who follows you. We 0:57:37.680 --> 0:57:40.480 show content based on the things that you like, plus 0:57:40.520 --> 0:57:42.880 and follows you. So your following is already gained. 0:57:42.920 --> 0:57:45.520 Isn't that already how social media works. No, it's based 0:57:45.560 --> 0:57:49.320 off off of what they think you would interact with. 0:57:49.880 --> 0:57:52.040 But no, but it's it is. It's based off it's 0:57:52.080 --> 0:57:55.600 based off the algorithm. And yet with the algorithm thinks 0:57:55.640 --> 0:57:56.560 that you're gonna interact with it. 0:57:56.680 --> 0:58:00.880 Absolutely, but again it's still limited, like just by default. 0:58:00.880 --> 0:58:03.200 Anybody watching this program right now, right, anybody watching this 0:58:03.200 --> 0:58:06.120 program right now, go to your page and when you 0:58:06.160 --> 0:58:10.440 look at tap of somebody's profile on Instagram and say 0:58:10.520 --> 0:58:13.000 in notifications, when you want to see lives and see 0:58:13.000 --> 0:58:14.360 what it's saying, they'll say if you want to get 0:58:14.400 --> 0:58:16.480 notified some of the time, all. 0:58:16.440 --> 0:58:19.000 The time, or never, it's already set the sum. 0:58:19.200 --> 0:58:21.400 So that mean every time somebody you follow goes live, 0:58:21.640 --> 0:58:25.280 they're not notifying everybody that goes live by default. They're 0:58:25.280 --> 0:58:29.000 suppressing your content by default because again they have to 0:58:29.080 --> 0:58:33.120 limit your visibility. These platforms are in competition with users. 0:58:33.200 --> 0:58:35.440 They can't let you. You can go to look at 0:58:35.440 --> 0:58:38.040 anybody's you can go look at anybody's reals videos, go 0:58:38.160 --> 0:58:41.000 look at somebody who you follows following versus the amount 0:58:41.040 --> 0:58:43.640 of people that see their content. Now, granted, everybody's not 0:58:43.720 --> 0:58:45.240 on social media at twenty four hours a day, seven 0:58:45.280 --> 0:58:47.200 days a week. But still over the course of a month, 0:58:47.440 --> 0:58:49.400 if I have one point five million follows, people are 0:58:49.400 --> 0:58:51.520 tapping in. Even if I have you know, I get 0:58:51.520 --> 0:58:54.360 seven hundred and fifty thousand views or whatever based off that, 0:58:54.440 --> 0:58:56.880 but you're not seeing that. You're seeing people like Cardi 0:58:56.960 --> 0:58:59.480 b with one hundred plus million followers. 0:58:59.080 --> 0:59:01.480 Get two million, million, six million views. 0:59:01.720 --> 0:59:04.160 So you already know the people that want to see 0:59:04.160 --> 0:59:07.800 her content aren't seeing her content because that's her. Imagine 0:59:07.800 --> 0:59:09.240 being able to reach a hundred million people saying and 0:59:09.280 --> 0:59:10.720 go buy my album and go buy my solid. 0:59:11.040 --> 0:59:12.440 That's see, that's the future. 0:59:12.600 --> 0:59:16.120 The problem is the albatross of advertising that TikTok and 0:59:16.160 --> 0:59:18.720 Instagram are tied into. They just can't turn off the 0:59:18.760 --> 0:59:22.760 advertising switch and go to the monetization switch because ninety 0:59:22.760 --> 0:59:26.440 five percent of the income that is made of Facebook 0:59:26.680 --> 0:59:30.280 comes from advertising. TikTok enormous amount of money that TikTok 0:59:30.320 --> 0:59:32.560 made some advertising, so they're still going to have to 0:59:32.600 --> 0:59:36.080 play that game, right, there is no game when it's like, okay. 0:59:36.120 --> 0:59:37.640 We work off a rev share model. 0:59:38.000 --> 0:59:41.760 You have a following, you monetize a certain percentage of 0:59:41.760 --> 0:59:44.520 those subscribers, we get a percentage of that revenue. Now 0:59:44.560 --> 0:59:47.080 take that and multiply that times not one hundred million people, 0:59:47.320 --> 0:59:50.120 but five hundred million people or a billion people. And 0:59:50.200 --> 0:59:52.360 then now you say, okay, you got a trillion dollar company. 0:59:52.800 --> 0:59:56.080 So in terms of importance and metrics, you said that 0:59:56.200 --> 0:59:57.919 engagement probably never one off as mine. 0:59:57.960 --> 1:00:00.920 Sir. Yeah, yeah, I mean I think aagement is definitely 1:00:00.920 --> 1:00:02.760 what it's what it's what users want. I want to 1:00:02.800 --> 1:00:05.040 free that because that's what people want to experience. 1:00:05.040 --> 1:00:08.080 So like on Instagram there is impressed, and even on 1:00:08.120 --> 1:00:10.760 YouTube to a certain staid, there's impression as is reached. 1:00:11.240 --> 1:00:15.080 How do those metrics go inside? How do they work 1:00:15.080 --> 1:00:16.080 inside of fan base? Right? 1:00:16.080 --> 1:00:19.120 Are those equally as important or is it just its engagement? 1:00:19.200 --> 1:00:21.040 It's huge, it's it's sore. 1:00:21.520 --> 1:00:24.000 When so again, when you're talking about impressions, that that's 1:00:24.040 --> 1:00:30.080 another way that you actually calculate, like CPM and like 1:00:30.120 --> 1:00:32.640 the costs of in average, like all those things are done. See, 1:00:32.680 --> 1:00:36.280 all those metrics are based off how you advertise. If 1:00:36.280 --> 1:00:39.360 advertising is not the language that you're speaking, then you're 1:00:39.360 --> 1:00:44.120 not even we're gonna, we're gonna, we're gonna monetor and 1:00:44.240 --> 1:00:46.520 see all of that data. So because I would never 1:00:46.560 --> 1:00:48.960 say never for advertising even I'll say this right now, 1:00:48.960 --> 1:00:50.560 I would never say that fan base is never going 1:00:50.600 --> 1:00:53.280 to be a platform that that has advertising. If we do, 1:00:53.360 --> 1:00:54.840 I'm going to find it in a way that doesn't 1:00:54.840 --> 1:00:57.320 interrupt the user experience. That's all I care about. 1:00:57.320 --> 1:01:00.960 I don't want to interrupt someone being Again, I get 1:01:00.960 --> 1:01:05.040 tagged in ten posts a day of some creators saying, man, 1:01:05.400 --> 1:01:08.960 I'm about to leave because I post all this content 1:01:09.240 --> 1:01:11.320 and nothing ever gets seen this. And this is before 1:01:11.320 --> 1:01:13.120 they even got to the fact that their content, that 1:01:13.160 --> 1:01:15.680 people's content has value. This before they even made a dollar. 1:01:15.880 --> 1:01:17.680 You got people wanted to play social media because they're 1:01:17.680 --> 1:01:20.640 not getting enough views. Forget about I gotta take now. 1:01:20.680 --> 1:01:23.120 I gotta take these views to get to the money. 1:01:23.160 --> 1:01:25.480 I'm saying, skip that whole little cat and mouse game 1:01:25.880 --> 1:01:28.400 and just go now. Now, this is this is the 1:01:28.480 --> 1:01:31.200 question that I asked when we on board creators. We 1:01:31.280 --> 1:01:34.360 have creators come to the platform, they have large followings, 1:01:34.400 --> 1:01:36.160 and I said, Okay, I gotta ask you. I said, 1:01:36.320 --> 1:01:37.960 I'm gonna ask you a question. Do you want to 1:01:38.000 --> 1:01:40.240 be rich, you wanna be famous, or you want to 1:01:40.280 --> 1:01:40.600 be both? 1:01:41.280 --> 1:01:45.280 Right? If you want to be famous, stay overrow on Instagram. 1:01:45.400 --> 1:01:46.000 You know what I'm saying. 1:01:46.920 --> 1:01:49.720 If you want to be rich, then start charging for 1:01:49.760 --> 1:01:52.680 your content the moment that you created, like create an 1:01:52.720 --> 1:01:57.520 exclusive paywall, don't If you want to be both, fab 1:01:57.640 --> 1:02:00.400 is probably where you want to be because there's no 1:02:00.600 --> 1:02:03.080 there's no limit to the amount of of reach you're 1:02:03.080 --> 1:02:04.640 going to be able to have and there's no limits 1:02:04.640 --> 1:02:06.160 to the amount of monetization that you're going to be 1:02:06.200 --> 1:02:06.640 able to make. 1:02:07.280 --> 1:02:09.080 How many users do you have right now? Five hundred 1:02:09.080 --> 1:02:10.920 and ninety five thousand, So how many users do you 1:02:11.000 --> 1:02:12.920 need to play Unicorn status? 1:02:14.080 --> 1:02:17.400 It depends on the speed. So if I lo from five, 1:02:17.520 --> 1:02:19.840 so so i'll give I'll give you privately. Example, when 1:02:20.640 --> 1:02:23.480 in the pandemic and it's still it's still a rare thing, 1:02:23.520 --> 1:02:25.520 will in clubhouse in about four or five months, they 1:02:25.520 --> 1:02:28.480 went from five thousand users to a million users in 1:02:28.520 --> 1:02:29.840 like five or six months. 1:02:30.360 --> 1:02:32.040 They that's when they went out and raise one hundred 1:02:32.040 --> 1:02:34.360 million out of billion out of evaluation because then because 1:02:34.360 --> 1:02:36.200 they got to a million users in like five or 1:02:36.200 --> 1:02:40.120 six months, So that velocity creating that you know, and 1:02:40.160 --> 1:02:43.080 then it's also what people are actually then here's another 1:02:43.120 --> 1:02:47.000 thing is also what what the market is willing to pay, right, 1:02:47.040 --> 1:02:49.400 So it's also what institutional investors are willing to pay. 1:02:49.680 --> 1:02:51.720 If there's full of all that happens, right, and again, 1:02:51.800 --> 1:02:54.560 it's beat them until it's join them. So when so 1:02:54.600 --> 1:02:59.439 when institutional investors give fom like, okay, this trains left 1:02:59.440 --> 1:03:01.800 the station. We better get on board before we get 1:03:01.880 --> 1:03:05.320 left behind. Then they set your valuation, so there's no 1:03:05.360 --> 1:03:08.880 difference between. But there's no different between fan base and 1:03:09.000 --> 1:03:11.480 clubhouse that was styled of with institutional capital. There's a 1:03:11.480 --> 1:03:14.680 company that says we're giving you money, that we're giving 1:03:14.680 --> 1:03:16.440 you one hundred million dollars to say that your company's 1:03:16.440 --> 1:03:18.080 worth a billion dollars. Then they went on to raise 1:03:18.120 --> 1:03:21.240 another two hundred million at a four billion dollar evaluation. 1:03:21.680 --> 1:03:24.959 That is incredible to me. And they still not figured 1:03:24.960 --> 1:03:28.160 out how to monetize over there. So again I'm thinking like, okay, cool. 1:03:28.200 --> 1:03:31.200 So it's a velocity in which you get there. So again, 1:03:31.200 --> 1:03:33.439 our goals is to get to a million users by 1:03:33.480 --> 1:03:35.960 the end of twenty twenty four. We can get there faster, 1:03:36.120 --> 1:03:38.240 we get maybe we get to two three million users. 1:03:38.480 --> 1:03:44.160 That changes because now just by numbers alone, there's a monetary. 1:03:43.760 --> 1:03:45.760 Value that if we wanted to go to advertising route, 1:03:45.760 --> 1:03:47.560 there's a value that fan Base has just based off 1:03:47.560 --> 1:03:51.320 the users. So how are you tracking success at fan 1:03:51.440 --> 1:03:51.880 base right? 1:03:51.880 --> 1:03:54.200 Because I know when we watch the reports that comes 1:03:54.200 --> 1:03:57.080 from Meta, the number one message they're looking at is 1:03:57.680 --> 1:04:02.400 monthly users. They're watching daily average Dailly users. If that 1:04:02.520 --> 1:04:04.680 number it doesn't come in as expected, we want to 1:04:04.680 --> 1:04:07.360 see a pullback. Right, How would you what metric are 1:04:07.400 --> 1:04:09.840 you guys using to measure success? I guess on a 1:04:09.920 --> 1:04:11.880 daily is it Is it the same process for you? 1:04:12.200 --> 1:04:15.200 It's it's it's m au it's. 1:04:16.760 --> 1:04:19.880 But it's also our ability to kind of like fine 1:04:19.960 --> 1:04:23.200 tune our model. Like this model of monetization that I 1:04:23.200 --> 1:04:28.720 think is is so new that people don't understand that 1:04:28.800 --> 1:04:32.200 it's available for anybody to use. But I measure our 1:04:32.240 --> 1:04:36.480 success on our ability to build our products, remain well 1:04:36.560 --> 1:04:39.320 within our budget and just continue to grow. Because once 1:04:39.360 --> 1:04:41.560 you start building a community, and somebody that I even 1:04:41.800 --> 1:04:44.840 I was always afraid about this and never really thought 1:04:44.840 --> 1:04:46.439 about it like this, But once you start to build 1:04:46.440 --> 1:04:48.400 a community, you don't stop. Your community is going to 1:04:48.440 --> 1:04:51.560 continue to grow as long as like even at the 1:04:51.600 --> 1:04:54.680 page that fan base is like, right now, we're growing, 1:04:54.840 --> 1:04:56.840 and then we have we have spurts, we have people 1:04:56.880 --> 1:04:59.720 come on and maybe we might get twenty five thousand 1:04:59.760 --> 1:05:01.920 years out of nowhere because somebody makes a mistake or 1:05:02.160 --> 1:05:04.560 I don't know what happens if TikTok goes away, you 1:05:04.560 --> 1:05:06.560 know what I'm saying. That's the reason why like this, 1:05:06.800 --> 1:05:08.840 some of this functionality that we created is like, all right, cool, 1:05:08.880 --> 1:05:11.640 well let's make sure we're prepared. We got the arc 1:05:11.680 --> 1:05:13.440 ready for the TikTok wave if they have to come 1:05:13.440 --> 1:05:15.520 over here while they figure out what's going on over there. 1:05:16.400 --> 1:05:18.760 So I measure our success by our ability to. 1:05:20.680 --> 1:05:25.560 Effectively execute our revenue model and then continue to keep 1:05:25.600 --> 1:05:27.919 people on the platform. Now, one thing I say about 1:05:27.920 --> 1:05:30.200 fan base, because we do have audio that makes us 1:05:30.200 --> 1:05:33.560 a little bit unique is that audio and I talk 1:05:33.600 --> 1:05:36.680 about the audio creator space, and I think that's something 1:05:36.720 --> 1:05:39.000 that people are missing out on, and I think people 1:05:39.080 --> 1:05:42.400 want to tap into more because it only requires one 1:05:42.400 --> 1:05:45.520 of your senses. Things that require less of your attention 1:05:46.040 --> 1:05:48.240 but still can keep you engaged. You're also things that 1:05:48.280 --> 1:05:50.120 I think that's why I think podcasts are so good. 1:05:50.160 --> 1:05:50.640 You know what I'm saying. 1:05:50.640 --> 1:05:52.760 I think audiobooks are so good because like I can 1:05:52.840 --> 1:05:54.800 drive and listen to an audiobook or stuff like that. 1:05:55.160 --> 1:05:57.360 So I measured that also by retention. So people are 1:05:57.360 --> 1:06:00.760 spending forty five minutes. At one point, people were spending 1:06:00.800 --> 1:06:02.400 like an hour and a half a day off ABI 1:06:02.840 --> 1:06:04.560 And I mean you go, you'll go to websites and 1:06:04.640 --> 1:06:05.760 you'll go to current websites. 1:06:05.760 --> 1:06:07.880 And people who spend in four minutes on Nike, you 1:06:07.920 --> 1:06:11.400 dot com, like you know, four minutes on TMZ, seven 1:06:11.440 --> 1:06:12.960 minutes looking at the articles or whatever. When you can 1:06:13.000 --> 1:06:15.400 hold when you can keep again for advertising, When I 1:06:15.400 --> 1:06:17.120 can keep you on the platform for hour and a 1:06:17.120 --> 1:06:20.160 half forty five minutes a day, we're up there with you. 1:06:20.280 --> 1:06:23.800 That's that's YouTube stickiness. It's watched on Yeah. 1:06:24.000 --> 1:06:26.960 So all right, my brother, I'm gonna let you close 1:06:27.000 --> 1:06:32.040 it out with this. What in ten years from now right? 1:06:32.160 --> 1:06:32.400 Yeah? 1:06:33.320 --> 1:06:34.440 Where do you see yourself? 1:06:35.240 --> 1:06:36.600 Where do you see fan base? 1:06:37.160 --> 1:06:39.520 And where do you see they create an economy? 1:06:41.320 --> 1:06:45.480 Okay, where I see Where do I see myself? I 1:06:45.560 --> 1:06:52.000 see myself probably if I'm going to be, if if 1:06:52.040 --> 1:06:55.120 I'm what I think about, how I speak about affirmative 1:06:55.120 --> 1:06:59.840 I see myself as a successful Uh, tech found of 1:06:59.880 --> 1:07:05.360 that has founded multiple startups, that owns some sports franchise 1:07:06.080 --> 1:07:10.200 that's in Atlanta that needs to win a championship. I 1:07:10.200 --> 1:07:13.720 don't know which, but we need, you know, the Hawks 1:07:13.800 --> 1:07:14.960 need to tie I like basketball. 1:07:14.960 --> 1:07:15.840 We need we need a chip. 1:07:15.880 --> 1:07:18.360 So I would say I see myself as a multi 1:07:18.680 --> 1:07:22.360 billionaire startup founder that owns the Atlanta Hawks, that will 1:07:22.360 --> 1:07:24.240 do whatever it takes to bring a chip to the city. 1:07:25.000 --> 1:07:28.280 I see fan Base as a multi billion dollar company 1:07:30.440 --> 1:07:33.560 just coming out of an acquisition or going public on 1:07:33.600 --> 1:07:37.280 the stock market and cashing out for all the investors. 1:07:37.680 --> 1:07:40.000 And I think the creator economy is going to be 1:07:40.240 --> 1:07:43.400 a trillion dollar business because I just I just I 1:07:43.440 --> 1:07:47.880 think that everything is going to go from the director person. 1:07:47.920 --> 1:07:51.040 I think there's nothing there's like, you know, like I 1:07:51.080 --> 1:07:53.720 saw Lee or Corn talk about talk today about how 1:07:54.240 --> 1:07:58.400 you know the the music the music. Music streaming is 1:07:58.440 --> 1:08:02.280 going to go from you know, six hundred million users 1:08:02.640 --> 1:08:05.200 to a billion users by twenty thirty, just in music 1:08:05.200 --> 1:08:11.080 streaming alone. So as we get younger and kids that 1:08:11.320 --> 1:08:14.840 are so used to living their lives in a digital 1:08:14.880 --> 1:08:18.880 space are going to do digital transactions. They're going to 1:08:18.960 --> 1:08:23.080 communicate virtually through the Internet. I just don't see a 1:08:23.120 --> 1:08:29.320 world where people are using credit cards to subscribe. I 1:08:29.320 --> 1:08:31.639 don't see I see a world where people are using 1:08:32.400 --> 1:08:36.559 their their apps to acquire content and things that they want, 1:08:36.800 --> 1:08:39.160 but in like such a fast pace and a real 1:08:39.240 --> 1:08:42.720 time that you know, there's no there's no limits to 1:08:42.760 --> 1:08:44.880 what people can do. I just it's pretty scary because 1:08:44.880 --> 1:08:48.920 again I just think about the opportunity that's there. But 1:08:48.960 --> 1:08:52.240 I but I'm optimistic about it because there's no there's 1:08:52.280 --> 1:08:56.120 no limits, Like there's nothing stopping anybody right now, like 1:08:56.240 --> 1:08:59.320 what with what what fan base is right now? There's 1:08:59.360 --> 1:09:03.240 nothing stopping anybody to say, cool, come here, hit this button, 1:09:03.320 --> 1:09:06.280 a screen pops up, hit subscribe and you get paid 1:09:07.000 --> 1:09:09.320 from anybody that can. That's in one hundred and ninety 1:09:09.360 --> 1:09:12.519 plus countries and territories. The fan bases in on Irish 1:09:12.560 --> 1:09:16.280 are Android and actually making money. That's scary because I 1:09:16.280 --> 1:09:19.439 don't When I I saw this thing on Nvidio on 1:09:19.560 --> 1:09:22.479 the jobs, the n video uh roll out with the 1:09:22.560 --> 1:09:23.160 robots and all. 1:09:23.120 --> 1:09:26.240 The chips and stuff they built with the black blob. Yeah, bro, 1:09:26.520 --> 1:09:29.599 I was saying, well there goes your job. He said something. 1:09:29.640 --> 1:09:33.000 I was like, that's they are them jobs is gone, 1:09:33.280 --> 1:09:34.000 he said, I can't. 1:09:34.120 --> 1:09:35.439 He said something that the chip does. 1:09:35.520 --> 1:09:38.559 I was like, Oh, they that whole that whole sector 1:09:38.640 --> 1:09:42.519 is gone like it like like complete sectors of the 1:09:42.520 --> 1:09:45.120 industry that are wiped out. And we're seeing we're already 1:09:45.120 --> 1:09:47.599 getting we're seeing massive layoffs and all these tech companies 1:09:47.600 --> 1:09:51.280 already and the music business and TV and film like 1:09:51.640 --> 1:09:53.679 those three sectors they're laying. 1:09:53.479 --> 1:09:54.360 People off already. 1:09:54.439 --> 1:09:57.880 So ten years Oh yeah, hey, I gonna be if 1:09:57.880 --> 1:10:01.120 you know, if you don't have your own director consumer Clayton, 1:10:02.280 --> 1:10:02.560 I don't know. 1:10:02.600 --> 1:10:03.760 I don't know who will be working with who, I 1:10:03.760 --> 1:10:04.240 don't know what. 1:10:04.479 --> 1:10:07.880 But my suggestion is, as I always say, start monetizing 1:10:07.920 --> 1:10:10.320 your content in some way because at least you'll be 1:10:10.360 --> 1:10:12.280 ahead of the curve. I know people want to be famous, 1:10:12.600 --> 1:10:14.800 I know people want to be seen, but you also 1:10:14.840 --> 1:10:16.840 got to understand that all this energy that we put 1:10:16.840 --> 1:10:18.880 into the stuff that we do has value. 1:10:19.120 --> 1:10:22.559 Monetize it. And you can do that on fan base 1:10:23.040 --> 1:10:25.080 And so what's the website that what's that? 1:10:25.720 --> 1:10:30.799 Oh start engine dot com slash fan base to invest again. 1:10:31.000 --> 1:10:33.600 I'm going to tell you guys, like I don't this 1:10:33.760 --> 1:10:37.680 is probably one of the most pivotal times in technology and. 1:10:38.120 --> 1:10:42.040 Social media that I've ever seen. 1:10:42.160 --> 1:10:47.160 Because we're right here and I'm specifically speaking to black culture, 1:10:47.280 --> 1:10:49.479 right if I had that, you know, if I was 1:10:49.520 --> 1:10:51.080 like if I if I'm here and I'm having that 1:10:51.120 --> 1:10:55.160 conversation with black culture, I'm telling you that we you know, 1:10:55.600 --> 1:10:59.320 we make all these platforms have their value. Like we 1:10:59.479 --> 1:11:03.920 give these platforms the things that make them cool. 1:11:04.000 --> 1:11:04.800 If you listen to. 1:11:04.960 --> 1:11:07.679 You cannot market and promote anything as being cool without 1:11:07.720 --> 1:11:08.960 the assistance of black culture. 1:11:09.240 --> 1:11:10.400 So somebody wears it. 1:11:10.680 --> 1:11:13.400 If somebody does it, it becomes the thing that everybody 1:11:13.400 --> 1:11:17.200 wants and everybody buys. And there's a value to that 1:11:17.200 --> 1:11:21.439 that there's no infrastructure underneath it, there's no foundation as 1:11:21.439 --> 1:11:24.280 opposed to being the oil, which I always feel like 1:11:24.320 --> 1:11:28.640 Black culture has always been the oil to corporate America's infrastructure. 1:11:29.040 --> 1:11:31.080 So I was like, Okay, we're the record label, but 1:11:31.520 --> 1:11:33.519 you all the salts and all the dances and all that, 1:11:33.600 --> 1:11:35.400 y'all pump this through this, but we don't want y'all 1:11:35.439 --> 1:11:38.400 to own the well. And that's my whole thing is about, 1:11:38.560 --> 1:11:42.120 is like we have to own infrastructure. We're not building infrastructure. 1:11:42.160 --> 1:11:44.439 I think we're always going to be playing this game 1:11:44.479 --> 1:11:46.800 of where we want to be respected and we want 1:11:46.840 --> 1:11:48.599 our seat at the table and all that kind of stuff. 1:11:48.600 --> 1:11:51.360 And I'm like, yo, I'm I'm right along with Tyler Perry. 1:11:51.400 --> 1:11:54.120 I'm building my own tech table. I'm not trying to 1:11:54.160 --> 1:11:57.360 be out of San Francisco and I'm not trying to 1:11:57.360 --> 1:11:58.960 do any of that. I'm trying to give everybody an 1:11:59.000 --> 1:12:03.200 opportunity to own and be equitable and have that. So again, 1:12:03.760 --> 1:12:05.880 go to start engine dot com slash fan base to 1:12:05.960 --> 1:12:08.680 invest the minimum to invest it's three ninety nine. 1:12:08.720 --> 1:12:11.280 We're raising seventeen million. I say this number all the. 1:12:11.240 --> 1:12:15.200 Time because the average investment that we get that we 1:12:15.360 --> 1:12:17.200 that we've been getting in this race. We've already raised 1:12:17.200 --> 1:12:19.600 three hundred thousand. So we've already just started like a 1:12:19.600 --> 1:12:21.160 week week and a half ago. We've alread raised a 1:12:21.200 --> 1:12:23.280 right in one thousand. And what's more important about that 1:12:23.400 --> 1:12:25.439 is how fast we raise the capital. I don't doubt 1:12:25.439 --> 1:12:27.519 the ability that we'll raise seventeen million dollars, But is 1:12:27.560 --> 1:12:29.559 it gonna take me a year, or is it gonna 1:12:29.560 --> 1:12:31.280 take me two months, or it's gonna need two years. 1:12:31.280 --> 1:12:33.160 It's gonna take me you two months, if I raise 1:12:33.280 --> 1:12:36.200 money in two months, then we off to the races. 1:12:36.200 --> 1:12:38.240 And that's the velocity. So the opportunity to be able 1:12:38.240 --> 1:12:42.080 to do that, so you know, awning part of this 1:12:42.280 --> 1:12:45.679 going to start engine and then being able to scale 1:12:45.760 --> 1:12:47.840 this business and and and really take advantage of what's 1:12:47.840 --> 1:12:48.160 going on. 1:12:48.240 --> 1:12:50.880 We have we have to do this. I'm looking like, yo, if. 1:12:50.840 --> 1:12:53.439 We don't do this, don't blame me, because you know, 1:12:53.720 --> 1:12:55.479 I think we I think I've done more than enough 1:12:55.520 --> 1:12:57.360 to say that we can do it? 1:12:58.439 --> 1:13:00.920 Can you having my brother appreciation you as always? Thank 1:13:00.960 --> 1:13:04.439 you guy, may show that you download the fan base app. Yeah, 1:13:04.479 --> 1:13:08.400 Mari and Donald shout out in best bet ata all 1:13:08.520 --> 1:13:11.400 right for sure? Yeah sure yeah. 1:13:11.439 --> 1:13:15.680 Bob an illegal alien from Guatemala charged with raping a 1:13:15.800 --> 1:13:19.280 child in Massachusetts. An MS thirteen gang member from Al 1:13:19.360 --> 1:13:24.200 Salvador accused of murdering a Texas man of Venezuelan charged 1:13:24.200 --> 1:13:28.120 with filming and selling child pornography in Michigan. These are 1:13:28.160 --> 1:13:31.680 just some of the heinous migrant criminals caught because of 1:13:31.680 --> 1:13:35.400 President Donald J. Trump's leadership. I'm Christy nom, the United 1:13:35.439 --> 1:13:40.160 States Secretary of Homeland Security. Under President Trump. Attempted illegal 1:13:40.200 --> 1:13:43.880 border crossings are at the lowest levels ever recorded, and 1:13:43.920 --> 1:13:47.280 over one hundred thousand illegal aliens have been arrested. If 1:13:47.280 --> 1:13:50.960 you are here illegally, your next you will be fine 1:13:51.000 --> 1:13:55.120 nearly one thousand dollars a day, imprisoned, and deported. You 1:13:55.200 --> 1:13:58.719 will never return. But if you register using our CBP 1:13:58.880 --> 1:14:01.519 home app and leave now now, you could be allowed 1:14:01.520 --> 1:14:06.479 to return legally. Do what's right, leave now. Under President Trump, 1:14:06.640 --> 1:14:09.800 America's laws, border and families. 1:14:09.400 --> 1:14:10.240 Will be protected. 1:14:10.320 --> 1:14:12.479 Sponsored by the United States Department of Homeland Security,