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Speaker 3: An illegal alien from Guatemala charged with raping a child
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Speaker 3: Do what's right. Leave now. Under President Trump, America's laws,
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Speaker 4: Be protected sponsored by the United States Department of Home Security.
Speaker 5: Isaac Hayes the third. But something, my brother, How you doing?
Speaker 1: Got you're doing? I'm doing? Next May this little bank pleasure?
Speaker 1: You got nothing? Thank you man?
Speaker 5: Thanks guys, Yeah, long time, no see.
Speaker 6: I know it's funny because like I think I see
Speaker 6: you guys like every every couple of weeks.
Speaker 7: Now, I'm sure, sure, sure, we always find new things
Speaker 7: to talk about he was Yeah, he was just throwing blackout. Yes,
Speaker 7: I was talked about the creative economy. Yeah, of course
Speaker 7: you've been on Ernlesia, been on invest Fest stage.
Speaker 5: Yeah, you've been on market mondays.
Speaker 1: This is true. What else is there to do?
Speaker 8: Now you have the red distinction of having two episodes
Speaker 8: on the Big Show, which is very rare.
Speaker 1: Red territory feeling about this.
Speaker 6: I feel honored because I'm catching you guys at the
Speaker 6: right time, because every time I turn on television, you
Speaker 6: have y'all all like really big programs like you know,
Speaker 6: I'm saying, y'all with a lot of a lot of
Speaker 6: dope people expand their brand, and I love it.
Speaker 1: Well, you know, first and foremost we're on fan base. Yes,
Speaker 1: so yeah, you guys are. So that's that's.
Speaker 7: Something that should be People will probably by now already
Speaker 7: know that. But if you didn't know, you know, we've
Speaker 7: been in communication and this is something that we are
Speaker 7: very vocal about as far as us wanting to support you,
Speaker 7: as far as giving you a platform that's that's beneficial,
Speaker 7: but also us being on your.
Speaker 1: Platform as well.
Speaker 6: Yeah, I appreciate that, and I mean I think it's
Speaker 6: probably one of the premier kind of like additions to
Speaker 6: what we've been building, Can you guys validate us in
Speaker 6: a different way by you know, your your financial literacy.
Speaker 6: There's a seriousness and a wealth of information that people
Speaker 6: really need beyond just dances and you.
Speaker 1: Know, fun stuff.
Speaker 6: But you guys are bringing real content to the platform,
Speaker 6: and I'm looking forward to actually expanding like this relationship
Speaker 6: beyond what anybody can think of, because I think you
Speaker 6: know your message is extremely.
Speaker 1: Valuable, appreciate it in front of it. So if anybody
Speaker 1: that's under a rock they don't know.
Speaker 7: Fan Base is a social media platform that allows any
Speaker 7: regular creator to earn money based off of subscriptions.
Speaker 6: In a nutshell, right, yeah, I mean I'll say this.
Speaker 6: I mean, well, first, fan Base is a social networks,
Speaker 6: free to download, free to use. I say it all
Speaker 6: the time. So sometimes people get the notion that fambase
Speaker 6: might cost money. It doesn't cost any money to download
Speaker 6: and use the platform. I always say, look at it as
Speaker 6: a freemium model, so that you could have you can
Speaker 6: use it like you would use Instagram or TikTok or whatever,
Speaker 6: but then you can also have this added layer of
Speaker 6: subscribers if you want to and that's the part that
Speaker 6: I think is most important. I'm going to say this
Speaker 6: until the world acknowledges me for this, is that I
Speaker 6: invented peer to peer in a purchase subscription on mobile devices.
Speaker 6: So that means what fan Base allows you to do
Speaker 6: is take out your phone and use a fingerprint or
Speaker 6: a face scan through the App Store the Google Store
Speaker 6: to subscribe to a person before people will pull out
Speaker 6: credit cards if you're using all these other apps to
Speaker 6: have subscribers using a credit card. But once I did
Speaker 6: that and we launched that at twenty nineteen, about two
Speaker 6: years later, all the other platforms started doing it, including
Speaker 6: Apple chains and model, Google chains and models to accommodate
Speaker 6: the vision that people are going to be subscribing to
Speaker 6: people more than Netflix. Okay, so let's take it back
Speaker 6: a little bit. You recently raised seventeen million dollars is
Speaker 6: a number that I'm hearing right. We're raising said we
Speaker 6: raised ten You raised ten million dollars, were already raised
Speaker 6: ten million dollars in three years, and so that extreme
Speaker 6: that was extremely important because it gave us the capital
Speaker 6: kind of really to start and be acknowledged as a
Speaker 6: platform that people can can can really use and give
Speaker 6: us the ability to build what we wanted to build.
Speaker 6: Like we didn't have to we didn't have to really
Speaker 6: think about you know, like I was, I was funding
Speaker 6: this myself. Let's say that I spent like two hundred
Speaker 6: thousand on my own money. And at some point we
Speaker 6: were like, yo, we got to get this thing to
Speaker 6: the next level. And so COVID had happened and we
Speaker 6: were in equity crowdfunding. Equit crowdfunding came along and gave
Speaker 6: me the opportunity to do that. So all right, so
Speaker 6: you raised ten million, you're trying to raise another seven million.
Speaker 1: I'm not trying I'm raising seven want to raise billion dollars?
Speaker 7: Okay, have you ever why haven't you going to venture
Speaker 7: capital route or angel or like just what made the
Speaker 7: crowdfunding situation appealing as opposed to trying to target vcs
Speaker 7: trying to target angels.
Speaker 6: Maybe you did, I'm not sure, but I think there's
Speaker 6: two I think there's two major things that affected that decision.
Speaker 6: First and foremost was racial bias, like the ability for
Speaker 6: black startups to get funded, right, that was one of
Speaker 6: the first things.
Speaker 1: And then secondly, we were in COVID.
Speaker 5: Talk about racial bias though, because they might not fully understand.
Speaker 6: So in twenty twenty three, black startups received I think
Speaker 6: zero point sixty nine percent of funding, right, and that
Speaker 6: was like so so so low. It was down from
Speaker 6: like one point five percent all capital. So out of
Speaker 6: all the capital that VC's investing, they invested almost a
Speaker 6: little over half of a percent into black founders in
Speaker 6: all areas. So when you think about that, that's like
Speaker 6: ninety nine point five percent going to other people that
Speaker 6: are not black. So the likelihood that you're going to
Speaker 6: get funded from a VC is so like it's not happening, really,
Speaker 6: you know what I mean, It's it's very very rare
Speaker 6: that those things happen. I even had a conversation with
Speaker 6: a with a good friend of my Chamellionaire, about three
Speaker 6: or four days ago, and we were talking about the
Speaker 6: equity crowdfunding around and how the timing is right now
Speaker 6: because because venture capital actually getting tighter with the purse strings.
Speaker 6: But something that frustrated him that he related to me
Speaker 6: is like, you're right about this this you know about
Speaker 6: this capital. He's like, I've seen he goes I went to,
Speaker 6: like I can remember what school he went to, and
Speaker 6: he's like I saw a dude get up on stage
Speaker 6: of present and say he needed twenty million dollars for
Speaker 6: a startup, a white kid, and they gave him forty five.
Speaker 6: Like that imagine is gone into a I'm saying I
Speaker 6: need forty five million dollars to build my company and
Speaker 6: somebody just cutting you a check saying here, go do it.
Speaker 1: Like they're not doing that for us, Like we're not
Speaker 1: getting those looks. That doesn't exist in our world.
Speaker 8: So I mean when people are raised, right, you raise
Speaker 8: the ten, you're gonna raise the seven, they're seventeen.
Speaker 1: A lot of people will look at well, why do
Speaker 1: we mean to seventeen?
Speaker 8: Right?
Speaker 1: They don't understand the capital or pop capital intensive.
Speaker 8: This could be they know scaling, So what is the
Speaker 8: determined factor when you say this is the number we
Speaker 8: need to get to.
Speaker 1: Right, you could have said, let's raise twenty seven. Right,
Speaker 1: was the realistic thing?
Speaker 8: Or was from a scalability to the point, this is
Speaker 8: where we want to be at this point in our.
Speaker 6: Coupoy So we came up with a three year plan.
Speaker 6: So up until this point we funded fan base and
Speaker 6: being able to build a company at a steady pace.
Speaker 6: But right now we have to wear in scale mode
Speaker 6: as opposed to startup mode. We're no longer a startup
Speaker 6: in my opinion. We're trying to scale the company. So
Speaker 6: to do that, we actually have to build functionality and
Speaker 6: build faster to keep up with the demands of what
Speaker 6: users want, especially if we want to capitalize on exactly
Speaker 6: what's going on with creators and monetization. So, first and foremost,
Speaker 6: seventeen million was a number because we're valued at one
Speaker 6: hundred and sixty million dollars. Now, so I first lost
Speaker 6: the company, we're about at twenty million. Then I did
Speaker 6: a raise of fifty then I did a raise eighty
Speaker 6: five million, and now this raise right now is valued
Speaker 6: at one hundred and sixty million dollars, and so roughly
Speaker 6: about ten percent of the company is up for investment
Speaker 6: to the general public on starting Engine dot com slash
Speaker 6: fan base if you can see this. So so for
Speaker 6: that reason, we wanted to be able to what I say,
Speaker 6: accommodate what users want a scale. So there's a lot
Speaker 6: of things that go into building a startup like this.
Speaker 6: Stuff is expensive and you guys know, more than anything,
Speaker 6: and tech is extremely expensive, and so so to scale
Speaker 6: the company. First thing you want to do is focus
Speaker 6: on scaling our functionality.
Speaker 1: Our productivity.
Speaker 6: So right now, let's say I have a team of
Speaker 6: twenty five developers, right we're going to be able to
Speaker 6: We're going to be able to triple that. So now
Speaker 6: we'll have seventy five developers. Will double that or triple that.
Speaker 6: We have seventy five developers that can actually help, you know,
Speaker 6: build this. And so when I tell people that come
Speaker 6: to fan Base and say, oh, well, fan Base doesn't
Speaker 6: have X, y Z or we want this, I'll tell
Speaker 6: you if you want if you want darkload investing fan Base,
Speaker 6: if you want care of sales investing fan Base, if
Speaker 6: you want the same functionality that TikTok ads all these
Speaker 6: platforms have.
Speaker 1: This raise will give us the ability.
Speaker 6: To catch those platforms without a doubt. Like with the development,
Speaker 6: I will be able to catch them. But then there's
Speaker 6: another thing that we want to do is go beyond
Speaker 6: the innovation that we see that other platforms are doing
Speaker 6: that they're just not capitalizing on and so they're missing
Speaker 6: that mark.
Speaker 8: Is there a point in the development process, Because technology
Speaker 8: does move so fast as you're developing, you have to
Speaker 8: be almost precise with what you want to do, because
Speaker 8: if another platform does it, now it's like you're behind
Speaker 8: the wheel. Now you're the second person that or the
Speaker 8: third or the fourth uh fan base, I mean the fourth.
Speaker 1: Platform that has something.
Speaker 8: Now it feels like it's old and I have to
Speaker 8: figure out how to innovate again.
Speaker 1: Is that a like how frustrating does that get?
Speaker 6: That's not really frustrating because honestly, a lot of these platforms,
Speaker 6: what I've noticed is that they don't innovate the advantage
Speaker 6: that I think, which is which is so important about
Speaker 6: what we're building because as a black founded company that's
Speaker 6: not black only, which is extremely important that I have
Speaker 6: to say, because the media will try to say, oh,
Speaker 6: because it's built by somebody black, pie's exclusively for black people,
Speaker 6: and sometimes you get pigeonholed of that.
Speaker 1: But what I noticed.
Speaker 6: Is that, oh, when I started getting into this space
Speaker 6: and seeing that my idea is what we had and
Speaker 6: a lot of the things that we filed like seven
Speaker 6: eight patents.
Speaker 1: For some of the functionality that we've done.
Speaker 6: So when I saw that, I was like, Oh, it
Speaker 6: isn't the these guys are smarter any smarter than us.
Speaker 6: They just got the money but what they do is
Speaker 6: they put a product out there and say, here, guys,
Speaker 6: play with it, make this cool stuff cool or you
Speaker 6: want dms, oh they want, give them that. Oh okay,
Speaker 6: they want retweets, Give them that. So it's just money.
Speaker 6: It's not about innovation. We're the ones that come up
Speaker 6: kids black culture. We're the ones that come up with
Speaker 6: all these things that people talk about all the time
Speaker 6: that get put into social media products. We're the ones
Speaker 6: that bring those into these spaces, but we don't own them.
Speaker 6: So that's the reason why I was like, Okay, if
Speaker 6: it's just money, then let's go get the money. And
Speaker 6: then now we have a company that rivals the tiktoks
Speaker 6: and Instagrams of the world, at least by functionality. Now
Speaker 6: execution is one thing, but I don't doubt our ability
Speaker 6: to do that, but at least we've leveled the playing
Speaker 6: field from people can make a decisions.
Speaker 7: So seventeen million, what does that do to the landscape
Speaker 7: of like black startup tech companies? Like is this something
Speaker 7: that can be used as a landmark? Is how will
Speaker 7: this change the dynamic for black entrepreneurs that are intact
Speaker 7: that's trying to raise capitals?
Speaker 6: So from a social media standpoint, it'll be pretty impressive
Speaker 6: because in tech there are a lot of startups that
Speaker 6: are founded by black.
Speaker 1: People that often receive funding and they raise lots of money.
Speaker 6: But two of the most important things that I see
Speaker 6: are the control of the company and the equity of
Speaker 6: the company. So I can name I'm not gonna name name,
Speaker 6: but I can name companies where companies start ups to
Speaker 6: raise one hundred million dollars, but ninety nine percent of
Speaker 6: the company is owned by institutional investors and then they force.
Speaker 1: The founder out and great.
Speaker 6: You get to walk away and say, Okay, I made
Speaker 6: twenty thirty million in tech, I'm a tech founder, but
Speaker 6: you didn't make a dent. My idea with equity, crowdfunding
Speaker 6: and the way that I decided to do fanmas is
Speaker 6: I wanted something that I could be intentional about and
Speaker 6: build and create generational wealth by allowing people to invest,
Speaker 6: but also people be able to monetize their content. So
Speaker 6: from the social media standpoint, this is we never been
Speaker 6: here before. And I talk about this like I was
Speaker 6: just saying today. If we don't get this right and
Speaker 6: by means of families, I don't know, we can never
Speaker 6: have a conversation that we didn't have the opportunity to
Speaker 6: really take control of an infrastructure and social media.
Speaker 1: And do that because we have it.
Speaker 6: I looked, I've been researching the companies right now in existence.
Speaker 6: I can only find nine black founded social media apps
Speaker 6: in existence, and at them all nine, there's only one
Speaker 6: that is not directly geared towards the black community.
Speaker 1: That's fan base.
Speaker 6: I'm building this as if I'm building something for the
Speaker 6: entire planning as opposed to that and then on the
Speaker 6: on the you know, the equity crowd fromding side. This
Speaker 6: is unprecedented because I'm the first black men to race
Speaker 6: ten million in the REGCF space, which is a level
Speaker 6: where we were at before where I raised the ten
Speaker 6: and it's seventeen. It's something called a reggae plus round,
Speaker 6: and so that's a whole different level of investment, a
Speaker 6: whole different level of compliance and stuff that we had.
Speaker 1: To do with the Secso I'm proud to do this.
Speaker 1: So this is this is unprecedented.
Speaker 6: It should, it should really shape the mold and really
Speaker 6: and really change the way that people think about how
Speaker 6: they scale and build their companies because I see often
Speaker 6: at times people don't have the money to really retain
Speaker 6: ownership of their company. So I'm trying to retain as
Speaker 6: much ownership of this. So then down the lot, if
Speaker 6: we do need to raise let's say three or four
Speaker 6: dred millionum, Right, there's the equity to be able to
Speaker 6: do that, but also give people the opportunity to invest.
Speaker 6: So this is this is a you know, a watership model.
Speaker 8: I say, Yeah, one of the things you talked about
Speaker 8: was the SEC approval process, and that was really unprecedented.
Speaker 8: We had a conversation and then like two weeks later
Speaker 8: was like, I can't believe it.
Speaker 1: It happens so fast.
Speaker 8: Yeah, talk about that because a lot of people number one,
Speaker 8: probably don't even know what the SEC does and how
Speaker 8: I guess your work ethic and how the company has
Speaker 8: been raised prior to that point, how it helped in
Speaker 8: that prooval process.
Speaker 6: So well, the first thing I'll say is a lot
Speaker 6: of people that want to raise capital is the way
Speaker 6: you construct your business.
Speaker 1: Because me doing this, people have.
Speaker 6: Asked me like, okay, cool, just can you look me
Speaker 6: up with start engine so I can go raise money?
Speaker 1: Like it's just that easy. I'm like, it don't work
Speaker 1: like that.
Speaker 6: Before I even made it, to start Engine, I had
Speaker 6: to you know, form my company, I you know, incorporated
Speaker 6: in Delaware to c Corp. And creating stock and all
Speaker 6: these things that existed, you know what I'm saying. Then
Speaker 6: I had to make sure that our accounting was together,
Speaker 6: and I prepared all this. I filed trademarks for fan
Speaker 6: Base just before any code was ever written, before I've.
Speaker 1: Even met my CTO.
Speaker 6: I just wanted to prepare the actual business infrastructure of
Speaker 6: the company because now I'm coming from a place of
Speaker 6: the music business. I'm coming from a place of learning
Speaker 6: from the mistakes that my father made. Like, okay, ownership,
Speaker 6: you got to make sure that that's locked in the beginning.
Speaker 6: So then now we get to the point where we
Speaker 6: build the company. We raised his capital and get and
Speaker 6: get approved by starting Engine to raise and a rex
Speaker 6: CF and only two percent of people, every color, every
Speaker 6: race get approved for equity crowd bundy, so it's rare
Speaker 6: to even be included in that.
Speaker 1: So let alone then be successful with that process.
Speaker 6: So I credit my COO, CTO and our CFO for
Speaker 6: keeping us really you know, dialed in on.
Speaker 1: How we raise our capital. Because when you try to
Speaker 1: go for.
Speaker 6: A rex CF round, it's a lot less leaning. Y'all
Speaker 6: you have to do is a financial review, you know
Speaker 6: what I'm saying with the SEC to comply. It's not
Speaker 6: really you know, that complicated. When you're going to reggae,
Speaker 6: which the difference between REGCF and reggae is, and a
Speaker 6: reggae and a RECCF and crowdfunding, you can only raise
Speaker 6: up to five million in the calendar year, right and
Speaker 6: the most that someone can invest in that route is
Speaker 6: one hundred thousand dollars at one time. When you go
Speaker 6: to a reggae, you can raise up to seventy five
Speaker 6: million in the calendar year, and there is no limit
Speaker 6: on what someone can invest institutional like a credited investment
Speaker 6: or not a credited So somebody wants to come along
Speaker 6: and write a check for ten million and the fan base,
Speaker 6: they can come and write a check ten million to
Speaker 6: take you know, two thirds of a round if they
Speaker 6: wanted to do so. But it's almost like you're going public.
Speaker 6: It's almost like you're filing to go public. The level
Speaker 6: of complianceship to you know, go through it's like a
Speaker 6: three month process. So we did that process with the
Speaker 6: SEC and an amazing company called crowd Check and our
Speaker 6: partners at Start.
Speaker 1: Engine, and they were warning us. They were like, hey, look,
Speaker 1: you know this whole process with the SEC, it takes
Speaker 1: like six months because every time you submit, they always
Speaker 1: got some questions. They always want you to do something.
Speaker 1: And we filed to be able to you know, launch around,
Speaker 1: and the SEC responded with no objection, which is like,
Speaker 1: you know, a non review.
Speaker 6: I'm sorry, non review. And they were like they were surprised.
Speaker 6: They're like, scd ain't in a question like y'all can
Speaker 6: go ahead and launch around and that's just unheard of,
Speaker 6: and that just speaks to how we've heldled our business.
Speaker 1: Like I'm very you know, I.
Speaker 6: Hate to say that I have this anxiety as a
Speaker 6: black person entering into a space that is not often
Speaker 6: accepted by black people. But even one of the things
Speaker 6: that I do at fan Base is I don't even
Speaker 6: take a salary, Like I've not paid myself a dime
Speaker 6: to run fan Base since I lount the company, because
Speaker 6: it's like, who cares about paying myself one hundred thousand,
Speaker 6: two hundred thousand dollars if that could go towards development.
Speaker 6: So I wanted to make sure that everything is available,
Speaker 6: like even when you go and think, then file for this.
Speaker 6: All of your company filings have to be public, so
Speaker 6: you can go on startings dot com and look and
Speaker 6: then go.
Speaker 1: To the SEC and see all our filings.
Speaker 6: So all our financials, everything has to be open to
Speaker 6: the public because you have to give them so much visiblity.
Speaker 1: Is so much transparency for around like this.
Speaker 5: So how do you figure about your valuation?
Speaker 7: Because you have said something about I think you your
Speaker 7: company for one hundred and fifty millions, I'm.
Speaker 1: That under sixty how does that determine?
Speaker 6: So initially before, when you when equity crowdfunding first started,
Speaker 6: you could just name evaluation right, and they were like
Speaker 6: And then ironically when I get there, they were like, oh,
Speaker 6: we have some rules now now you have to actually
Speaker 6: find companies that are comparable to your product in the marketplace.
Speaker 6: And then you can say, okay, since this company raised
Speaker 6: this capital at this valuation, you may do the same.
Speaker 6: And so the first thing that I saw is we
Speaker 6: didn't have we never we didn't have audio rooms in
Speaker 6: fan base. For what I first saw was that with
Speaker 6: twenty five hundred users, Clubhouse was allowed to raise ten
Speaker 6: million dollars, had one hundred million dollar evaluation off the rip,
Speaker 6: so I'm like, okay, well all I need to do
Speaker 6: is all At this time, I was raised a one
Speaker 6: million at a twenty million dollar evaluation, so we were
Speaker 6: well below what was needed. And at that time, fan
Speaker 6: Base had over ten fifteen thousand users, like so we
Speaker 6: were straight independent. So without any institutional capital or any
Speaker 6: crowdfunding capital, we had ten thousand users. We were already
Speaker 6: generating revenue. No, these apps haven't started a lot of
Speaker 6: these apps haven't started to do that yet. So when
Speaker 6: you think about certain startups that out here, you also
Speaker 6: got to think about your you're a startup, then you're
Speaker 6: generating revenue, and then you're profitable.
Speaker 1: So there's those are three big differences.
Speaker 6: And so the fact that we were generating revenue, we
Speaker 6: had already had a certain number of users, and we
Speaker 6: were able to compare to other other products and the
Speaker 6: microplanes like Patriotic use Patreon as an example. I used
Speaker 6: this other, this other app called fan House, which ironically
Speaker 6: FanHouse got venture capital backed.
Speaker 1: They raised thirty five million, forty million.
Speaker 6: Dollars in a Series A seed round, and they were
Speaker 6: out of business in eighteen months. But they don't look
Speaker 6: like me I'm just I'm just I'm saying this for
Speaker 6: a reason that you know, we have to go above
Speaker 6: and beyond.
Speaker 1: But they spent that money in.
Speaker 6: Eighteen months and had to and they were acquired by
Speaker 6: another company, and that company just went and raised forty
Speaker 6: million dollars and I'm like, it's cool though I know
Speaker 6: they you know, I already know what I'm up against,
Speaker 6: but I'm cool with that.
Speaker 1: So as you calculate the amount of users, there's.
Speaker 8: A threshold that you had to because I always say,
Speaker 8: you talk about billion dollar company, this is a billion
Speaker 8: dollar company.
Speaker 1: What's the threashold as far as users?
Speaker 8: Because what you said is important, being probable and having
Speaker 8: revenues important old company.
Speaker 1: We're just all Reddit go public? Right, they lived been
Speaker 1: probable in nineteen years?
Speaker 8: Yeah, right, which is when you're thinking about it, like, wait,
Speaker 8: nineteen year, how they But.
Speaker 1: You have all those things.
Speaker 8: So what's the threshold of users revenue that you have
Speaker 8: to see to say, all right, this is when we
Speaker 8: reached out.
Speaker 1: A billion dollar evaluation?
Speaker 6: So typically in social media, your valuation is based on
Speaker 6: total users in the m a year because what would
Speaker 6: happened before is like let's say a company like Instagram,
Speaker 6: that you would scale your company because of these companies
Speaker 6: are based on advertising.
Speaker 1: They would scale it up to enough users where they
Speaker 1: knew that they could go ahead and then turn on advertising,
Speaker 1: and then they could try to begin to make the
Speaker 1: company profitable. So that's the old model.
Speaker 6: The old model was build an app, get a bunch
Speaker 6: of people on it, and then flip the advertising switch,
Speaker 6: and then start to make money.
Speaker 1: I didn't want to enter.
Speaker 6: The space that way because I always felt like advertising
Speaker 6: what I was seeing experiencing in social media is that
Speaker 6: advertising was actually limiting the way that people could be
Speaker 6: visible on social and people.
Speaker 1: Care more about being seen than actually making money.
Speaker 6: So the fact that advertising the limits that I didn't
Speaker 6: want to put the limitation of being a company that
Speaker 6: ran ads. So it changes the way that we're able
Speaker 6: to value our company. But we still have users. So
Speaker 6: right now fan base has a little over almost a
Speaker 6: little under, about five hundred and ninety five thousand users
Speaker 6: right with no serious like major marketing push. Again, I
Speaker 6: talked about all these things that sound like I'm saying
Speaker 6: them very calmly, but these are all things that just
Speaker 6: having typically existed. Ever so as we continue to scale,
Speaker 6: like my goal even with this seventeen million dollar round,
Speaker 6: is to to scale the coming to a million users
Speaker 6: by the end of this year. And you know, having
Speaker 6: you know users like you guys on your creating content
Speaker 6: like you guys and other people that are joining the
Speaker 6: platform are going to help.
Speaker 1: Us get there. So that's always also going to increase evaluation. Again, tomorrow,
Speaker 1: if Cardi b come on fan Base tomorrow should bring
Speaker 1: a million people. Fan Base is a million dollar company.
Speaker 6: It's like it works like that, Like that's really what
Speaker 6: users increase the value of a social media platform. Which
Speaker 6: is scary because I always talk about like, well, so
Speaker 6: you're telling me that I say all the times you
Speaker 6: tell me I can invest money in fan Base, then
Speaker 6: use it and then increase the value of the asset
Speaker 6: that I own by simply coming to use it. That's
Speaker 6: like you're literally it should almost be unfair because if
Speaker 6: I was, and I say this before, I don't understand
Speaker 6: why people don't understand this. It's like if you're an
Speaker 6: artist or a musician, or an athlete or an entertainer
Speaker 6: that knows that you can drive people to where you
Speaker 6: want to want to be, but you never got a
Speaker 6: chance to invest in Instagram or TikTok, but you see
Speaker 6: how much how powerful those companies are. Then fan base
Speaker 6: is the opportunity for you, no matter what color you are,
Speaker 6: no matter you know, no matter like your age or whatever.
Speaker 6: It's an opportunity for you. It's actually an equity and
Speaker 6: actually a social media platform. So that's what's really going
Speaker 6: to increase, Like I said, increase our evaluations just.
Speaker 1: How fast we skill uses.
Speaker 6: And it's also the velocity in which it's done. So
Speaker 6: if it takes me five years to get to a
Speaker 6: million users, that ain't good. If it takes me five months,
Speaker 6: that changes everything. It's also the velocity in what you raised.
Speaker 6: You know, you raise your your yarb.
Speaker 1: You said something about marketing and advertising in a media space.
Speaker 8: We brought this up about some of the difficulties that
Speaker 8: transpire when trying to find at partners or even having
Speaker 8: sponsorships or advertising in our media space, but the social
Speaker 8: media space, especially fan base. What's that process like for
Speaker 8: you as far as getting people to come on the
Speaker 8: app to have advertising. So what we have to we
Speaker 8: have to be careful about how we do that process
Speaker 8: because advertising is something that I don't necessarily want to
Speaker 8: add to the platform because we're already in a position
Speaker 8: that we're generating revenue. The part about advertising is is
Speaker 8: we got to find ways for it to be unique.
Speaker 8: We have to find ways for it to be kind
Speaker 8: of cool that don't interrupt the user experience, right, and
Speaker 8: so and then advertising again, it's like it's it's tough
Speaker 8: because I.
Speaker 1: Was watching the Eli interview the other day and.
Speaker 6: I could tell like he he was blaming the fact
Speaker 6: that advertisers also, you know, are leader, we're leaving X.
Speaker 1: But it's also like the environment in what you curate
Speaker 1: for users the experience is also advertisers don't want to
Speaker 1: be on a platform, or there's a bunch of hate speech,
Speaker 1: you know what I'm saying, racism, pornography, and that's kind
Speaker 1: of like what X is at this point. So it's
Speaker 1: kind of hard. And he says, oh, well, you can
Speaker 1: just you know, you can decide where you want your
Speaker 1: ass to run. Which is two it's two sides of
Speaker 1: of of of a problem.
Speaker 6: One, he's admitting that corporations like Facebook can control the visibility.
Speaker 1: That you have in your content.
Speaker 6: The advertiser comes on there says, I don't want any
Speaker 6: LGBTQ content showing next to my content. Then they can
Speaker 6: turn the LGBTQ down, or they can turn the black
Speaker 6: down to run their ads, they can make their money,
Speaker 6: they can turn it back up. So if you ever
Speaker 6: see a dip and you're engaging on social media, like well,
Speaker 6: you'll see this in November.
Speaker 1: Anybody that talks about politics, you're engaged gonna.
Speaker 6: Be a flat lined around November because they're gonna make
Speaker 6: sure that you have no effect on being able to
Speaker 6: influence an election anymore. They say, okay, you're not gonna
Speaker 6: you can post something like zero views is gonna go down,
Speaker 6: And I see this problem with the creators all the time.
Speaker 1: And so then, but he's also admitting that.
Speaker 6: You get you can pick and choose where your content goes,
Speaker 6: but you can't necessarily control what the user is going
Speaker 6: to say. So you can still say I can want
Speaker 6: my ads, I want my ass to show next to
Speaker 6: a particular genre, like I want my ass to show
Speaker 6: next to people that like sports, which it doesn't mean
Speaker 6: that somebody's not gonna get on there and say something
Speaker 6: racist or post something foul or whatever or misleading. So
Speaker 6: advertising is tricky. That's why I don't like it, because
Speaker 6: also they control your company. The two things that control
Speaker 6: your company is either when it's public the general public,
Speaker 6: or your stockholders and your advertisers. If I build a
Speaker 6: company independent of public stock and advertisers, and I can
Speaker 6: still generate revenue, then I'm always to control the way
Speaker 6: that I want my company to be. I can fan base,
Speaker 6: can be as ethnically centered as possible without any fail
Speaker 6: you know what I mean. We can do the things
Speaker 6: if there's things that we want to bring attention to,
Speaker 6: whatever the cause, whatever the situation is, whatever the time,
Speaker 6: whatever it is, we can do that because there's no
Speaker 6: one that can force our hand to say we don't want.
Speaker 1: You participating in this, because we control the pockets.
Speaker 7: So why the model as far as getting money to
Speaker 7: creators from day one, Why is that so important and
Speaker 7: it just works?
Speaker 1: How is it going to change the landscape of social media? Well,
Speaker 1: the first thing I think about is just ruption. So
Speaker 1: if you're not pissing people off, then you're doing something wrong.
Speaker 1: So the first thing when I got the kind of
Speaker 1: the idea to really to even build a company, I
Speaker 1: knew that this is going to disrupt industries because people
Speaker 1: are always talking right now about TV and film, music,
Speaker 1: we're having all these conversations about how these how artists
Speaker 1: are getting paid enough for streaming, how athletes aren't getting
Speaker 1: paid like the college players just got nil to be
Speaker 1: able to do those kinds of things we're seeing.
Speaker 6: You know, movie stars get their TV shows canceled, you know,
Speaker 6: inserrated rap shits getting getting take off, and now she
Speaker 6: needs to go independent because she can own her content
Speaker 6: and all that kind of stuff. So for me, it's
Speaker 6: like if I don't, if I don't create an environment
Speaker 6: or an infrastructure where the community can own and monetize
Speaker 6: from day one, it actually puts no limits because it
Speaker 6: circumvents all the industries. The fact that you can pick
Speaker 6: up your phone and subscribe directly to a person changes
Speaker 6: business for every single person on the playt always say this,
Speaker 6: there's nobody that's on fan base that is not a business.
Speaker 6: The business is the business ability to receive revenue or
Speaker 6: income for a product or service you provide. So for
Speaker 6: that very reason, by default, every single person on fan
Speaker 6: base is a business. And so I think that the
Speaker 6: ability for us to generate revenue from day one, we
Speaker 6: don't have to figure it out. Their apps out here
Speaker 6: that have not figured it out that are clubhouses not
Speaker 6: figured out how to generate revenue. There's a lot of
Speaker 6: these startups that are in the social media space have
Speaker 6: not figured out how to make revenue, but going to
Speaker 6: direct a consumer and allowing the user to decide.
Speaker 1: What they want to pay for. And we're seeing that
Speaker 1: with younger kids anyway.
Speaker 6: And that's another thing too, is saying like the future
Speaker 6: is you know I was talking about when you see
Speaker 6: kys and not Kai is twenty twenty one, twenty two
Speaker 6: years old. He has about eighty five thousand subscribers making
Speaker 6: four hundred thousand dollars a month. I can't see that
Speaker 6: as a human being and not say I could do
Speaker 6: this as an athlete. I could do this as a musician.
Speaker 6: I don't have to be a gamer. It doesn't matter.
Speaker 6: People going going to see the cond of that they want.
Speaker 6: So it's extremely important that you know, we provide a
Speaker 6: new way for people to monetize directly consuming to circumvent
Speaker 6: all these these pillars that that block and rob artists
Speaker 6: and athletes and movie stars and everybody you know.
Speaker 8: I mean, it's it's pretty evident, right, that's the way
Speaker 8: we can see if guys are we can see it
Speaker 8: what the athletes bringing their own platforms right with just
Speaker 8: Lebron and you the podcast, Now Dreymond comes to mind.
Speaker 8: What do you think is gonna take for that drastic
Speaker 8: change for people to say, all right, we're not going
Speaker 8: to be with the just traditional ways of social media.
Speaker 8: Something like fan base makes too much sense for us
Speaker 8: not to be part of.
Speaker 6: I think the first person that And I'm looking at
Speaker 6: Kai now because again it's it's so it's so interesting
Speaker 6: to me that he's making more money streaming with subscribers
Speaker 6: than rappers are making recording an album, putting it out
Speaker 6: and going and doing shows. Like it's like, you can
Speaker 6: still do that, but there's still a lifestyle and a
Speaker 6: personality that's involved every We're all human, so we all
Speaker 6: have social lives or funny and human or whatever. So
Speaker 6: to be able to monetize that, I think that it'll
Speaker 6: shift when someone like him And I've seen this before,
Speaker 6: Like again, there are these moments that happen that just
Speaker 6: have me scratching my head, like I can't believe no
Speaker 6: one is picking up on the fact that Bad Baby
Speaker 6: made forty million dollars in a year, you know for subscribers.
Speaker 6: Costano is making four hundred thousand dollars them out of subscribers.
Speaker 6: That everybody's not dropping a plate of food. Let the
Speaker 6: plate break and shatter. Say, wait, what did I just hear?
Speaker 1: Hold on, I'm not finna, I'm not finished.
Speaker 6: I'm nothing to do all this extra shit when I
Speaker 6: can just really create and live and exist on social
Speaker 6: media and have fun and then and then monetize and
Speaker 6: still you know, have the same, you know, the same experience.
Speaker 7: So do you think that this will be beneficial for
Speaker 7: the every average day person, right, because everybody's nott it'll
Speaker 7: be constantant.
Speaker 1: Yeah.
Speaker 7: So the average person that has a thousand followers, they're
Speaker 7: not gonna make a lot of money.
Speaker 5: So why does fan base make sense to them?
Speaker 1: Go first?
Speaker 6: Okay, so I'm going to say this because I'm going
Speaker 6: to talk about the investment portion real quick. When I
Speaker 6: first started to on startings and the minimum to invest
Speaker 6: in fan base was two hundred and forty five dollars, right,
Speaker 6: the minimum to investment fan base now is three hundred
Speaker 6: and ninety nine dollars. The minimum to invest starting dot
Speaker 6: comflash fan base shout out. But what I say is
Speaker 6: more important that is that there are hundreds no, thousands
Speaker 6: of users on fan base that have made the money
Speaker 6: using fan base that they invested in fan base. So
Speaker 6: it's not about I'm not telling everybody to get on
Speaker 6: here and think that you're going to be a multimillionaire.
Speaker 6: But I do believe that most people have enough money
Speaker 6: to make monthly the ability to pay their rent or
Speaker 6: you know, to get gas or put food in refrigerator.
Speaker 1: Like we I see people making that amount of money.
Speaker 6: I see a user, you know, make there's a user
Speaker 6: that's made ten thousand dollars this year that has less
Speaker 6: than thirty five hundred followers, an extra ten thousand dollars
Speaker 6: a year, Like the average American's out is forty thousand dollars.
Speaker 6: You're making a quarter of what you would have to
Speaker 6: do to get to make the bare metium as a
Speaker 6: salary in this country just making content. And it's not
Speaker 6: it's not like you have to sit live and stream
Speaker 6: all day long. You post content. People subscribing, they make
Speaker 6: that money. So if I can make somebody, if I
Speaker 6: can make enough money to put gas in my car
Speaker 6: just by posting content, I'm with If I'm a young kid,
Speaker 6: of course I would do that.
Speaker 1: I'm can feed Feed myself.
Speaker 6: I don't have to get it, and then that's just
Speaker 6: that's like one hundred subscribers again, But if you know,
Speaker 6: you get five thousand people, five thousand people are a
Speaker 6: small number of people, and there's six billion people on
Speaker 6: the planet. For five thousand people paying you two thousand
Speaker 6: and fifty cents a month, it's twelve thousand, five hundred
Speaker 6: a month, one hundred and fifty thousand dollars a year.
Speaker 6: That's more than ninety seven percent of American to make.
Speaker 6: And that's just five thousand people. So it's like it's
Speaker 6: not you know, if we took that down, like I said,
Speaker 6: we took that down to five hundred people, you're still
Speaker 6: making fifteen thousand dollars a year. Who who wants to
Speaker 6: try to extra fifteen thousand dollars a year in America?
Speaker 6: Like just start making content. It's like it's a no
Speaker 6: brighter than me.
Speaker 8: We spoke two years ago from you're a person and
Speaker 8: from all the signs right, people are making money right
Speaker 8: flunctuates depending on the user, how many people probowers they have,
Speaker 8: the companies make going and it's probable.
Speaker 1: I asked you the end, so I ask you now
Speaker 1: mergers and acquisitions is always a part of business. Have
Speaker 1: the phone's been ringing?
Speaker 8: Even more so as you continue to innovate, as you
Speaker 8: continue to what I disrupt social media in a sense
Speaker 8: where you can start revolutionizing.
Speaker 1: They have the phone calls been coming in just for no.
Speaker 6: I'm gonna tell you why, because fan base is a
Speaker 6: I always say there's two phases to success in building businesses.
Speaker 6: It's to beat them phase and it's the join them phase.
Speaker 6: We're still in beat them. They're still sitting back like
Speaker 6: I'm going to see here really going to raise the.
Speaker 1: Seventeen million dollars and really like change the game and
Speaker 1: the way that he does. One thing people, One thing
Speaker 1: that Trump's grace is green is money. And so I
Speaker 1: and I think I've had the best, like you know,
Speaker 1: example in someone seeing the way that Tyler Perry built
Speaker 1: his business.
Speaker 6: At first it was all beat him. They was like,
Speaker 6: oh well, now we got to join him. You know,
Speaker 6: at some point in the beginning, there were no deals,
Speaker 6: but then it was TBS and there was a Lion's Game.
Speaker 6: There was owned and then it became Netflix and Amazon
Speaker 6: and now it's like okay, cool, it's BT's like okay, here,
Speaker 6: so fan base is always until we get the we're
Speaker 6: going to be in the beat up phase because this
Speaker 6: is this is majorly disruptive in the way that I
Speaker 6: say all the time. Again, it's like, I think that
Speaker 6: this is one of the most pivotal moments in technology,
Speaker 6: social media and wealth building because we've never been here before.
Speaker 6: You cannot name a time that there's been a a
Speaker 6: social media company that's been founded that allows the public
Speaker 6: to invest. So now anybody without restriction can actually own
Speaker 6: part of something that they use and then there's no earners.
Speaker 1: What's up?
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Speaker 6: Limit into how fast you know or how big these
Speaker 6: companies can get. When you're looking at Facebook as a
Speaker 6: market cap.
Speaker 1: Of two point two trillion dollars, I'm not even thinking
Speaker 1: about two trillion. I mean, granted, like.
Speaker 6: Cool, I think Facebook is something that's like a one
Speaker 6: in a lifetime, you know company, But there's still companies.
Speaker 6: Even if you remove Instagram from Facebook, it's still the
Speaker 6: three hundred billion dollar company.
Speaker 1: You know what I'm saying.
Speaker 6: If you're looking at TikTok separated from bite dad to
Speaker 6: still probably one hundred two hundred billion dollar.
Speaker 1: Company've just got every one six. Yeah. So I'm like,
Speaker 1: do you understand? Like how how okay? So now so
Speaker 1: think of that.
Speaker 6: So think of now one hundred and sixty billion dollar
Speaker 6: company that's owned.
Speaker 1: By people that look like us.
Speaker 6: We ain't never been there before. I don't even know
Speaker 6: who the richest black person on the planet is.
Speaker 1: I'm I'm never like nineteen billion. What's the rich nineteen billion?
Speaker 1: Who didn't know? Yeah, like nineteen billion. So I'm just saying, like, yo,
Speaker 1: we never, we never. And my point is.
Speaker 6: For us to to really build and make and transform
Speaker 6: wealth not only is it.
Speaker 1: And my goal is not to be worth more than
Speaker 1: nineteen billion.
Speaker 6: My goal is to create ten or fifteen other people
Speaker 6: that are worth are multi billionaires.
Speaker 1: Because technology is the fastest way.
Speaker 6: I heard Robert and Smith say this. He's like technology
Speaker 6: is a fastest way to do a wealth in this texture,
Speaker 6: It's like all these eight of the top ten richest
Speaker 6: people on the planet are in technology Oracle, Microsoft, Amazon, Google, Facebook,
Speaker 6: and Elon with Tesla and acts like it's like, yo,
Speaker 6: those are all the people only people from Bernard Orna
Speaker 6: is the number one guy and he owned every other
Speaker 6: brand in existence, and you know, and then Berkshire Hathaway.
Speaker 1: You know what I'm saying. But it's technology.
Speaker 6: So we're in a We're in an unprecedented amount of
Speaker 6: time a time because ownership and equity in these in
Speaker 6: these tech companies. These are companies that can be worth
Speaker 6: one hundred billion, you know, like one hundred billion dollars,
Speaker 6: one hundred and sixty billion dollars. It's totally achievable. We've
Speaker 6: never been there before. And I think, you know, I
Speaker 6: think we have the the the unique opportunity to gain
Speaker 6: I was telling I was telling people here today, I
Speaker 6: was like, Yo, we get this wrong.
Speaker 1: You can't don't blame.
Speaker 6: Me because it's literally here for us to take advantage of.
Speaker 6: And that's why, you know, the rays that we're doing
Speaker 6: was so important because it gives there's no excuses. Once
Speaker 6: I raise seventeen million dollars. I give everybody everything that
Speaker 6: they want. I give every If you want certain songs,
Speaker 6: you want, certain functionalities, you want, certain features you want,
Speaker 6: I can give you that in a year, Like by
Speaker 6: the end of the year, I can give you most
Speaker 6: of the things that you want, and then we get
Speaker 6: to do the things that I want to do. There's
Speaker 6: some of the things that I talk about, like we
Speaker 6: just launched branded audio on web and I was like,
Speaker 6: no one's doing that, And that's what I'm saying, like, man,
Speaker 6: if they're not doing this, there's so many other ideas
Speaker 6: that are available that we can do. So I'm like, again,
Speaker 6: they're gonna be in beta phase until they say, okay,
Speaker 6: now we got to go invest in them, because obviously
Speaker 6: he's going to keep going.
Speaker 7: So so let me ask you this, how what's the
Speaker 7: path to profitability? Like how do you make money in
Speaker 7: the long term even for investors right to know like, Okay,
Speaker 7: I'm investing in this company and then essentially they're going
Speaker 7: to be profitable or so on, go public because you
Speaker 7: say you don't like advertisers, So the subscription based model,
Speaker 7: that's the only way that you're going to plan and
Speaker 7: make money.
Speaker 6: No, that's not the only way. There's not there's I can't.
Speaker 6: I can't tell you every other way we're going to
Speaker 6: make money because there are other things there. There's there's
Speaker 6: layers on top of layers that are built in ways
Speaker 6: that you get you can do this, But I'm keeping
Speaker 6: those a secret because again, nobody thinks of this stuff.
Speaker 1: So it's like, okay, cool.
Speaker 6: To explain to people that invest in aguity, crowdfunding and
Speaker 6: startups this way. You're investing in a period of time
Speaker 6: where you know ninety nine percent of the general public
Speaker 6: never gets this opportunity because these opportunities have been available to.
Speaker 1: Accredited investors for so long.
Speaker 6: And I talk about that that's so important because that
Speaker 6: is say that has nothing to do with the race
Speaker 6: at that point, Like the credit industry rule has been
Speaker 6: in effect since nineteen thirty three, and so up until
Speaker 6: twenty fifteen, you know, eighty eighty three years or however
Speaker 6: long it was, you couldn't invest. So now, when you're
Speaker 6: investing in seed stage companies, you ride the lacke of
Speaker 6: the company. So I say, you're with us to the
Speaker 6: moon or to the ground, right, And it's a risk
Speaker 6: neier investment. But the differences with retail investors and equity
Speaker 6: crowdfunding is with institutional investors, they will require these minimums
Speaker 6: like you need to put ten thousand and fifty thousand
Speaker 6: in to invest right.
Speaker 1: And everybody can have ten thousand and fifty thousand dollars,
Speaker 1: but four ninety nine.
Speaker 6: People don't spend four ninety nine at Mastros or some
Speaker 6: steakhouse or at the strip club or whatever it is.
Speaker 6: And that might spend four ninety nine like two or
Speaker 6: three times this month. Do you understand what I'm saying?
Speaker 6: Because people are say like, okay, what people don't really
Speaker 6: have money, Like the black community spends two point two
Speaker 6: trillion dollars a year on shit. You're telling me that
Speaker 6: we you can't take a weekend off and say, look,
Speaker 6: I'm not going to spend four ninety nine on this
Speaker 6: fresh fit and you know, and taking some girl to
Speaker 6: dinner or whatever, buy whatever we buy and say just
Speaker 6: this one, this one moment, I'm gonna throw some money
Speaker 6: in here, in this in this startup, and I'm gonna
Speaker 6: forget about it. And what happens is you ride with
Speaker 6: us to what it's called a liquidity event.
Speaker 1: So how people exit companies.
Speaker 6: So when you hear these conversations about these entertainers, celebrities,
Speaker 6: people that are investing in startups. When when William was
Speaker 6: talking about how he was in Beats and here he
Speaker 6: was an investor in Beats and then he got paid
Speaker 6: when they sold to Apple. So that's the same way.
Speaker 6: It's either an acquisition or you go public. So when
Speaker 6: you hear people like okay, coinbase goes public whatever, then
Speaker 6: they cash out their shares. So those are the two
Speaker 6: eventualities for fan bases. Either going public, which is like okay, cool,
Speaker 6: we go public. We're putting a portion of the company
Speaker 6: available for the general public for retail and retail investment
Speaker 6: to investment, but that's way after the fact. That's a
Speaker 6: that's after we've already done. We already got to a
Speaker 6: billion dollar valuation. It's like, cool, you're gonna you're gonna
Speaker 6: see that return of your investment, but it's gonna be
Speaker 6: way slower than and these these high risk investments that
Speaker 6: don't require a lot of capital, or someone that is
Speaker 6: not you know, I guess a too big of a
Speaker 6: competitor will come along and purchase us, like outside of
Speaker 6: what's going on, because I know Facebook is not in
Speaker 6: Facebook wouldn't purchase us because the've already already are already
Speaker 6: on the head for trying to buy too much stuff anyway,
Speaker 6: So someone would be like, all right, cool, We're gonna
Speaker 6: come along and purchase fan base, and then everybody cashes
Speaker 6: out and walks.
Speaker 1: Off into the sunset with a bag.
Speaker 8: You know, are you finding that because I would imagine
Speaker 8: that a lot of the people who are using crowd
Speaker 8: card or using it for the first time, are you
Speaker 8: finding yourself having to go through an education process for
Speaker 8: some of the investors or are people because of the
Speaker 8: time and obviously the financial revolution that's happened, they're coming
Speaker 8: here with a different knowledge.
Speaker 6: Base when coming to no You know, the irony in
Speaker 6: that is that most people, I always say, politics and finance.
Speaker 6: You guys probably know this more than anything.
Speaker 1: It's like.
Speaker 6: When you guys start talking about some of the stuff
Speaker 6: you're talking about, ninety nine of a sudden of the
Speaker 6: people get intimidated and just turn off. You really have
Speaker 6: it's your responsibility to learn where you guys learn just
Speaker 6: as much as anything, Just as much as I learned
Speaker 6: about tech and and and investing in startups. It's your
Speaker 6: job to educate yourself on those things. And the same
Speaker 6: thing in politics, people feel like they're you're talking over
Speaker 6: their heads, so they don't want to They don't want
Speaker 6: to look stupid. They don't feel like, I don't know
Speaker 6: what the hell you're talking about, so they kind of
Speaker 6: act like they do there not in the head, like yeah,
Speaker 6: you know, I'm diverse and five, I got a portfolio.
Speaker 6: Don't know what none of that shit, queen like none
Speaker 6: of it, you know what I'm saying. So for me,
Speaker 6: I'm I'm I overshare the information because I feel like
Speaker 6: we need to know.
Speaker 1: And the way that I communicate is definitely.
Speaker 6: Something that I feel like everybody can understand when I
Speaker 6: when I use you know, when I like when I
Speaker 6: say you'll go, you'll go buy some some crazy tennis shoes,
Speaker 6: but you can spend that and actually have equity ownership
Speaker 6: in the company and explain how the process works and
Speaker 6: how you actually you know, you actually grow with the startup.
Speaker 1: All this stuff is new, So I don't.
Speaker 6: Mind sharing that information to people so that they're it's
Speaker 6: more than transparent, it's educational. I love putting us on
Speaker 6: I love telling people like, yo, this is the way
Speaker 6: to go this is how we do this, because not
Speaker 6: only for what fan base does, but for anybody that
Speaker 6: wants to fund their businesses. I've shared, I've recommend it now.
Speaker 6: I think five four or five companies to start engine.
Speaker 6: I think three of them gone to raising millions, raising
Speaker 6: million plus dollars. The other ones kind of almost met
Speaker 6: their goals. They didn't, but it's still me putting people
Speaker 6: in position to actually accomplish their dreams when they couldn't
Speaker 6: go get institutional capital.
Speaker 7: So as far as challenges, like, what are some challenges
Speaker 7: or threats into space fear.
Speaker 6: Well, I mean the first challenge is actually and I
Speaker 6: gotta I gotta say this again because I'm learning, I
Speaker 6: learned this process and I'm actually sharing the information that
Speaker 6: I'm just learning now. So when you when you apply
Speaker 6: for reggae reggae crowdfunding, they're different rules. So the REGCF
Speaker 6: space is a lot more lenient. So when I did
Speaker 6: the REXCF, when I raised at Timmy and in the REXCF,
Speaker 6: I could go on.
Speaker 1: Radio, I could go on TV. I could just say
Speaker 1: whatever I wanted to say and do what I wanted
Speaker 1: to do. When you move up to the REGA.
Speaker 6: Space, you are prohibited from going on live television, so
Speaker 6: any lock So I could never go on seeing it
Speaker 6: in Bloomberg or whatever, or live radio and promoting a raise.
Speaker 1: You can't do that. You can only promote the raise
Speaker 1: where there's a clickable link to.
Speaker 6: The rais and a clickable link to that filing that
Speaker 6: I say, that's a disclosure of all the stuff that
Speaker 6: you did.
Speaker 1: So that makes it very very hard.
Speaker 6: I'm fortunate to be able to be on a program
Speaker 6: like this or this is on the internet and on
Speaker 6: the web right, But the thing that makes that so
Speaker 6: difficult is like those rules I'm from nineteen ninety five,
Speaker 6: Like the equity crowdfundy came on in twenty fifteen, and
Speaker 6: I'm still having to bude by rules that were.
Speaker 1: From nineteen ninety five. So hopefully the SEC see some
Speaker 1: way to.
Speaker 6: Change that, because it's really hard to raise this type
Speaker 6: of capital without being able to have other ways other
Speaker 6: than just knowing people or spending an enormous amount of
Speaker 6: money creating ads and marketing. I could go run ads
Speaker 6: on Facebook and Instagram, but a lot of times you
Speaker 6: spend two hundred thousand dollars for every million that you're raised,
Speaker 6: So even I would still spend spending a million dollars
Speaker 6: just to raise the money that I need and running
Speaker 6: ads and that doesn't help. So I'm being as shrewd
Speaker 6: as I can and efficient as I can and doing this.
Speaker 6: That's the biggest challenges is how we navigate this new
Speaker 6: level of crowdfunding to be able.
Speaker 1: To do that.
Speaker 6: Other than that, I think we have to prepare for
Speaker 6: the things that we don't know. The other I think
Speaker 6: I don't. I always know that they're challenges, but I
Speaker 6: don't look at them as challenges. I just look at
Speaker 6: them as puzzles that I have to solve, or things
Speaker 6: that I have to learn, or obstacles that you have
Speaker 6: to overcome. It's not like it's not like I'm stuck.
Speaker 6: I believe that capital again, I comfantly believe that capital
Speaker 6: is probably the biggest hurdle to most anyone building their businesses.
Speaker 6: We have, but we don't have We don't have problem
Speaker 6: creating great ideas. There's great ideas and all types of
Speaker 6: companies that create and get created every day. We don't
Speaker 6: have issues with that. It's how we scale these business
Speaker 6: It's the ability to take capital and then scale your
Speaker 6: business to the next level. I know people that have
Speaker 6: phenomenal businesses, but it's the access to capital how we
Speaker 6: scale those business that's the biggest challenges.
Speaker 1: The money. So as you're scaling, you got to build
Speaker 1: a team.
Speaker 8: Yeah, right, So to talk about that process because not
Speaker 8: only are you the founder and CEO of it, but
Speaker 8: you're also making sure that everything here is running smoothly.
Speaker 8: You got to have a process and in the innovation too,
Speaker 8: So how do you how are you balancing all these
Speaker 8: roles with us?
Speaker 6: So well, you have to kind of like delegate. You
Speaker 6: have to actually delegate responsibility. So I've done a lot
Speaker 6: of delegating responsibility my my CTO COO Romero Cannabis, brilliant
Speaker 6: guy Silvanna, who is our finance director, who's our terim CFO,
Speaker 6: and then underneath them, they're building teams.
Speaker 1: So it's my job. Like I'm a visionary. I accept
Speaker 1: my role as a visionary.
Speaker 6: I'm the big idea is that you know overall general
Speaker 6: direction of what Families is going to do, But I
Speaker 6: trust the people that I've brought on board to handle
Speaker 6: those fine details. But I also educate myself on that process,
Speaker 6: especially the way that we did it through equity crowdfulding.
Speaker 6: I say this all the time thereculary crowdfundling. I know
Speaker 6: more about my business than most people do because I
Speaker 6: got to know the finances.
Speaker 1: I got to know the corporate structure.
Speaker 6: I got to know the taxes and the legal I
Speaker 6: got to know all these sec rules and regulations and
Speaker 6: all these things that most people never think about. They
Speaker 6: just go get money from some investor and they'll realize
Speaker 6: they're screwed up or what they own. So this raise
Speaker 6: is also going to help us actually attract more talent.
Speaker 6: I think, you know, we need we need to be
Speaker 6: able to hire people that are worth two hundred and
Speaker 6: fifty thousand dollars a year of salary, Like we need
Speaker 6: to be able to hire people that. We need to
Speaker 6: be able to hire people that really no marketing and
Speaker 6: no advertising and no different forms of development.
Speaker 1: You know what I'm saying. It's not like, you know,
Speaker 1: we I think the team can build anything.
Speaker 6: But it doesn't hurt to be able to say, oh,
Speaker 6: you're the guy that builds algorithms on TikTok or used
Speaker 6: to work there, Yeah, come over here and build ours,
Speaker 6: you know, and we can we'll be able to actually
Speaker 6: get talent that competes in all these other companies to
Speaker 6: be able to do that, And that's the most important thing.
Speaker 1: I think people know. We always say I always say
Speaker 1: people you know, they.
Speaker 6: Say, well do you have you know, well what about
Speaker 6: the algorithm or what about And I'm like, yo, like
Speaker 6: you don't understand how much all this costs so and
Speaker 6: able to do that.
Speaker 1: I'm not.
Speaker 6: I'm not some guy that can go get forty five
Speaker 6: million bucks and buy Ferrari and say I'm a tech
Speaker 6: founder and not do anything with it. Like I would
Speaker 6: spend that money very meticulously. And I again, I know
Speaker 6: I being in Atlanta also stretches our paper crazy because
Speaker 6: we're not in San Francisco, where you know, you got
Speaker 6: to pay people two hundred fifty thousand dollar salaries just
Speaker 6: a walking there. The real estate so crazy expensive, and
Speaker 6: I'm isolated. I like the fact that I'm here. I
Speaker 6: like that I'm underestimated. So I get to build a
Speaker 6: team that that no one thinks is you know, is
Speaker 6: going to do that. But they have to respect the technology.
Speaker 6: There's nobody that there's nobody even when I even when
Speaker 6: I caught off, even when I got off the phone
Speaker 6: with Chamelionaire, he was like, and I gave him some
Speaker 6: of the things, the other things that we're working on
Speaker 6: behind the scenes. He goes, He goes, this doesn't look
Speaker 6: like you've raised ten million dollars. You know, this is
Speaker 6: like you raised forty I said, I know. I said,
Speaker 6: that's why I like, don't get I said, you gave
Speaker 6: me forty million dollars. You know what I would do
Speaker 6: with forty million dollars, man, I wouldn't. There's nothing you know,
Speaker 6: I'm not. I'm so I'm so serious about this, And
Speaker 6: my tongue doesn't change, my energy doesn't change, my commitment
Speaker 6: to this doesn't change.
Speaker 1: I really love this, So I don't mind missing out
Speaker 1: on going to all the cool stuff.
Speaker 6: This is what I do every day all day because
Speaker 6: I know how important it is for the opportunity for
Speaker 6: us to put ourselves in position with generational wealth and monoculization.
Speaker 1: So I take it super serious.
Speaker 7: So like for social media, you know, engagement, that's like
Speaker 7: a big thing as far as you know, driving and
Speaker 7: putting you in the algorithm.
Speaker 1: So just social media landscape, talk about engagement, like where
Speaker 1: did that even come from? How is that game rigged?
Speaker 1: How the whole engagement play and then how does your
Speaker 1: platform relate to that when it comes to engagement.
Speaker 6: So so typically so social media was really based off following, right, followers.
Speaker 6: When you think of my space, you think of Facebook
Speaker 6: or friends, you know, stuff like that. And that was
Speaker 6: when we were in a time where social media was
Speaker 6: so much more personal. And I think we're forgetting that
Speaker 6: this is a young person's game. And so I was
Speaker 6: laughing the other day. I was like, honestly, I was
Speaker 6: talking about we were talking about freaking it and how
Speaker 6: like for the generation of people that got on Facebook
Speaker 6: in two thousand and four, Facebook turns twenty this year, right,
Speaker 6: So when people got on Facebook in two thousand and four,
Speaker 6: it's probably the first place where you can digitally say
Speaker 6: in your photos. So for anybody on Facebook from two
Speaker 6: thousand and nine to two thousand and ten, it's basically
Speaker 6: a photo album for you. Now it's like where your
Speaker 6: oldest girlfriends are, all the stuff you did.
Speaker 1: In college, all that kind of stuff is there.
Speaker 6: And there wasn't so much about engagement as we moved
Speaker 6: into the as video entered into social media, it's views, right,
Speaker 6: it's in those views scale you're following. But what happens
Speaker 6: with advertising is that now that you add video to
Speaker 6: social media. And again I'm saying the quiet part out loud.
Speaker 6: It's just simply think of this. Every single person that's
Speaker 6: on social media that can put video on their page.
Speaker 1: You are a television network.
Speaker 6: So for that very reason, however you measure or monetize
Speaker 6: advertising with television, you can monitor and measure advertising on
Speaker 6: social media. So if you have seventeen or eighteen million
Speaker 6: followers on social media right now, you have the monetary
Speaker 6: equivalent of Sunday Night Football on NBC, you have that visibility.
Speaker 6: If you got one hundred million followers, right, you have,
Speaker 6: you have the advertising equivalent of the Super Bowl. Right
Speaker 6: So Facebook knows that and the advertisers know that, and
Speaker 6: so if there was no there was no limit on engagement,
Speaker 6: then they would bypass these companies and come directly to
Speaker 6: people to say, hey.
Speaker 1: Why you're doing this thing you're doing on your page
Speaker 1: whatever it is, and one hundred million people can see you.
Speaker 1: We're seventeen million people who.
Speaker 6: Do that, hold this can for us and say hey,
Speaker 6: by the way, go buy this. And that's advertising to
Speaker 6: seventeen million people. And the difference is these programs come
Speaker 6: on one time a week, once a year, right, but
Speaker 6: imagine being able to reach seventeen million people twenty four
Speaker 6: hours a day, seven days a week. That's the quiet
Speaker 6: part out now that I al was saying, people are
Speaker 6: putting that portion together. It's like we're all moving. Social
Speaker 6: media is television now, we are. Our behaviors changed. So
Speaker 6: with fan base, I want to say, following is dead,
Speaker 6: engagement is the new is the new King of the hill, right,
Speaker 6: it's the people want to be seen, and so.
Speaker 1: I would I would.
Speaker 6: I would much rather have a million people see my
Speaker 6: video and have ten thousand followers, and have a million
Speaker 6: followers that have ten thousand people see my video, which
Speaker 6: is happening now, which more people are like Yo, I
Speaker 6: got fifteen million followers, and every time I supposed a video,
Speaker 6: I get eighty six thousand views. I'll want to foot it.
Speaker 6: You know what I'm saying. I want people to have
Speaker 6: one point five million, one point five million views and
Speaker 6: have eighty six thousand followers, because I'm not showing We
Speaker 6: don't show people content based on who follows you. We
Speaker 6: show content based on the things that you like, plus
Speaker 6: and follows you. So your following is already gained.
Speaker 7: Isn't that already how social media works. No, it's based
Speaker 7: off off of what they think you would interact with.
Speaker 1: But no, but it's it is. It's based off it's
Speaker 1: based off the algorithm. And yet with the algorithm thinks
Speaker 1: that you're gonna interact with it.
Speaker 6: Absolutely, but again it's still limited, like just by default.
Speaker 6: Anybody watching this program right now, right, anybody watching this
Speaker 6: program right now, go to your page and when you
Speaker 6: look at tap of somebody's profile on Instagram and say
Speaker 6: in notifications, when you want to see lives and see
Speaker 6: what it's saying, they'll say if you want to get
Speaker 6: notified some of the time, all.
Speaker 1: The time, or never, it's already set the sum.
Speaker 6: So that mean every time somebody you follow goes live,
Speaker 6: they're not notifying everybody that goes live by default. They're
Speaker 6: suppressing your content by default because again they have to
Speaker 6: limit your visibility. These platforms are in competition with users.
Speaker 6: They can't let you. You can go to look at
Speaker 6: anybody's you can go look at anybody's reals videos, go
Speaker 6: look at somebody who you follows following versus the amount
Speaker 6: of people that see their content. Now, granted, everybody's not
Speaker 6: on social media at twenty four hours a day, seven
Speaker 6: days a week. But still over the course of a month,
Speaker 6: if I have one point five million follows, people are
Speaker 6: tapping in. Even if I have you know, I get
Speaker 6: seven hundred and fifty thousand views or whatever based off that,
Speaker 6: but you're not seeing that. You're seeing people like Cardi
Speaker 6: b with one hundred plus million followers.
Speaker 1: Get two million, million, six million views.
Speaker 6: So you already know the people that want to see
Speaker 6: her content aren't seeing her content because that's her. Imagine
Speaker 6: being able to reach a hundred million people saying and
Speaker 6: go buy my album and go buy my solid.
Speaker 1: That's see, that's the future.
Speaker 6: The problem is the albatross of advertising that TikTok and
Speaker 6: Instagram are tied into. They just can't turn off the
Speaker 6: advertising switch and go to the monetization switch because ninety
Speaker 6: five percent of the income that is made of Facebook
Speaker 6: comes from advertising. TikTok enormous amount of money that TikTok
Speaker 6: made some advertising, so they're still going to have to
Speaker 6: play that game, right, there is no game when it's like, okay.
Speaker 1: We work off a rev share model.
Speaker 6: You have a following, you monetize a certain percentage of
Speaker 6: those subscribers, we get a percentage of that revenue. Now
Speaker 6: take that and multiply that times not one hundred million people,
Speaker 6: but five hundred million people or a billion people. And
Speaker 6: then now you say, okay, you got a trillion dollar company.
Speaker 8: So in terms of importance and metrics, you said that
Speaker 8: engagement probably never one off as mine.
Speaker 1: Sir. Yeah, yeah, I mean I think aagement is definitely
Speaker 1: what it's what it's what users want. I want to
Speaker 1: free that because that's what people want to experience.
Speaker 8: So like on Instagram there is impressed, and even on
Speaker 8: YouTube to a certain staid, there's impression as is reached.
Speaker 1: How do those metrics go inside? How do they work
Speaker 1: inside of fan base? Right?
Speaker 8: Are those equally as important or is it just its engagement?
Speaker 8: It's huge, it's it's sore.
Speaker 1: When so again, when you're talking about impressions, that that's
Speaker 1: another way that you actually calculate, like CPM and like
Speaker 1: the costs of in average, like all those things are done. See,
Speaker 1: all those metrics are based off how you advertise. If
Speaker 1: advertising is not the language that you're speaking, then you're
Speaker 1: not even we're gonna, we're gonna, we're gonna monetor and
Speaker 1: see all of that data. So because I would never
Speaker 1: say never for advertising even I'll say this right now,
Speaker 1: I would never say that fan base is never going
Speaker 1: to be a platform that that has advertising. If we do,
Speaker 1: I'm going to find it in a way that doesn't
Speaker 1: interrupt the user experience. That's all I care about.
Speaker 6: I don't want to interrupt someone being Again, I get
Speaker 6: tagged in ten posts a day of some creators saying, man,
Speaker 6: I'm about to leave because I post all this content
Speaker 6: and nothing ever gets seen this. And this is before
Speaker 6: they even got to the fact that their content, that
Speaker 6: people's content has value. This before they even made a dollar.
Speaker 6: You got people wanted to play social media because they're
Speaker 6: not getting enough views. Forget about I gotta take now.
Speaker 6: I gotta take these views to get to the money.
Speaker 6: I'm saying, skip that whole little cat and mouse game
Speaker 6: and just go now. Now, this is this is the
Speaker 6: question that I asked when we on board creators. We
Speaker 6: have creators come to the platform, they have large followings,
Speaker 6: and I said, Okay, I gotta ask you. I said,
Speaker 6: I'm gonna ask you a question. Do you want to
Speaker 6: be rich, you wanna be famous, or you want to
Speaker 6: be both?
Speaker 1: Right? If you want to be famous, stay overrow on Instagram.
Speaker 1: You know what I'm saying.
Speaker 6: If you want to be rich, then start charging for
Speaker 6: your content the moment that you created, like create an
Speaker 6: exclusive paywall, don't If you want to be both, fab
Speaker 6: is probably where you want to be because there's no
Speaker 6: there's no limit to the amount of of reach you're
Speaker 6: going to be able to have and there's no limits
Speaker 6: to the amount of monetization that you're going to be
Speaker 6: able to make.
Speaker 1: How many users do you have right now? Five hundred
Speaker 1: and ninety five thousand, So how many users do you
Speaker 1: need to play Unicorn status?
Speaker 6: It depends on the speed. So if I lo from five,
Speaker 6: so so i'll give I'll give you privately. Example, when
Speaker 6: in the pandemic and it's still it's still a rare thing,
Speaker 6: will in clubhouse in about four or five months, they
Speaker 6: went from five thousand users to a million users in
Speaker 6: like five or six months.
Speaker 1: They that's when they went out and raise one hundred
Speaker 1: million out of billion out of evaluation because then because
Speaker 1: they got to a million users in like five or
Speaker 1: six months, So that velocity creating that you know, and
Speaker 1: then it's also what people are actually then here's another
Speaker 1: thing is also what what the market is willing to pay, right,
Speaker 1: So it's also what institutional investors are willing to pay.
Speaker 6: If there's full of all that happens, right, and again,
Speaker 6: it's beat them until it's join them. So when so
Speaker 6: when institutional investors give fom like, okay, this trains left
Speaker 6: the station. We better get on board before we get
Speaker 6: left behind. Then they set your valuation, so there's no
Speaker 6: difference between. But there's no different between fan base and
Speaker 6: clubhouse that was styled of with institutional capital. There's a
Speaker 6: company that says we're giving you money, that we're giving
Speaker 6: you one hundred million dollars to say that your company's
Speaker 6: worth a billion dollars. Then they went on to raise
Speaker 6: another two hundred million at a four billion dollar evaluation.
Speaker 6: That is incredible to me. And they still not figured
Speaker 6: out how to monetize over there. So again I'm thinking like, okay, cool.
Speaker 6: So it's a velocity in which you get there. So again,
Speaker 6: our goals is to get to a million users by
Speaker 6: the end of twenty twenty four. We can get there faster,
Speaker 6: we get maybe we get to two three million users.
Speaker 6: That changes because now just by numbers alone, there's a monetary.
Speaker 1: Value that if we wanted to go to advertising route,
Speaker 1: there's a value that fan Base has just based off
Speaker 1: the users. So how are you tracking success at fan
Speaker 1: base right?
Speaker 8: Because I know when we watch the reports that comes
Speaker 8: from Meta, the number one message they're looking at is
Speaker 8: monthly users. They're watching daily average Dailly users. If that
Speaker 8: number it doesn't come in as expected, we want to
Speaker 8: see a pullback. Right, How would you what metric are
Speaker 8: you guys using to measure success? I guess on a
Speaker 8: daily is it Is it the same process for you?
Speaker 1: It's it's it's m au it's.
Speaker 6: But it's also our ability to kind of like fine
Speaker 6: tune our model. Like this model of monetization that I
Speaker 6: think is is so new that people don't understand that
Speaker 6: it's available for anybody to use. But I measure our
Speaker 6: success on our ability to build our products, remain well
Speaker 6: within our budget and just continue to grow. Because once
Speaker 6: you start building a community, and somebody that I even
Speaker 6: I was always afraid about this and never really thought
Speaker 6: about it like this, But once you start to build
Speaker 6: a community, you don't stop. Your community is going to
Speaker 6: continue to grow as long as like even at the
Speaker 6: page that fan base is like, right now, we're growing,
Speaker 6: and then we have we have spurts, we have people
Speaker 6: come on and maybe we might get twenty five thousand
Speaker 6: years out of nowhere because somebody makes a mistake or
Speaker 6: I don't know what happens if TikTok goes away, you
Speaker 6: know what I'm saying. That's the reason why like this,
Speaker 6: some of this functionality that we created is like, all right, cool,
Speaker 6: well let's make sure we're prepared. We got the arc
Speaker 6: ready for the TikTok wave if they have to come
Speaker 6: over here while they figure out what's going on over there.
Speaker 1: So I measure our success by our ability to.
Speaker 6: Effectively execute our revenue model and then continue to keep
Speaker 6: people on the platform. Now, one thing I say about
Speaker 6: fan base, because we do have audio that makes us
Speaker 6: a little bit unique is that audio and I talk
Speaker 6: about the audio creator space, and I think that's something
Speaker 6: that people are missing out on, and I think people
Speaker 6: want to tap into more because it only requires one
Speaker 6: of your senses. Things that require less of your attention
Speaker 6: but still can keep you engaged. You're also things that
Speaker 6: I think that's why I think podcasts are so good.
Speaker 1: You know what I'm saying.
Speaker 6: I think audiobooks are so good because like I can
Speaker 6: drive and listen to an audiobook or stuff like that.
Speaker 6: So I measured that also by retention. So people are
Speaker 6: spending forty five minutes. At one point, people were spending
Speaker 6: like an hour and a half a day off ABI
Speaker 6: And I mean you go, you'll go to websites and
Speaker 6: you'll go to current websites.
Speaker 1: And people who spend in four minutes on Nike, you
Speaker 1: dot com, like you know, four minutes on TMZ, seven
Speaker 1: minutes looking at the articles or whatever. When you can
Speaker 1: hold when you can keep again for advertising, When I
Speaker 1: can keep you on the platform for hour and a
Speaker 1: half forty five minutes a day, we're up there with you.
Speaker 1: That's that's YouTube stickiness. It's watched on Yeah.
Speaker 7: So all right, my brother, I'm gonna let you close
Speaker 7: it out with this. What in ten years from now right?
Speaker 1: Yeah?
Speaker 5: Where do you see yourself?
Speaker 1: Where do you see fan base?
Speaker 5: And where do you see they create an economy?
Speaker 6: Okay, where I see Where do I see myself? I
Speaker 6: see myself probably if I'm going to be, if if
Speaker 6: I'm what I think about, how I speak about affirmative
Speaker 6: I see myself as a successful Uh, tech found of
Speaker 6: that has founded multiple startups, that owns some sports franchise
Speaker 6: that's in Atlanta that needs to win a championship. I
Speaker 6: don't know which, but we need, you know, the Hawks
Speaker 6: need to tie I like basketball.
Speaker 1: We need we need a chip.
Speaker 6: So I would say I see myself as a multi
Speaker 6: billionaire startup founder that owns the Atlanta Hawks, that will
Speaker 6: do whatever it takes to bring a chip to the city.
Speaker 6: I see fan Base as a multi billion dollar company
Speaker 6: just coming out of an acquisition or going public on
Speaker 6: the stock market and cashing out for all the investors.
Speaker 6: And I think the creator economy is going to be
Speaker 6: a trillion dollar business because I just I just I
Speaker 6: think that everything is going to go from the director person.
Speaker 6: I think there's nothing there's like, you know, like I
Speaker 6: saw Lee or Corn talk about talk today about how
Speaker 6: you know the the music the music. Music streaming is
Speaker 6: going to go from you know, six hundred million users
Speaker 6: to a billion users by twenty thirty, just in music
Speaker 6: streaming alone. So as we get younger and kids that
Speaker 6: are so used to living their lives in a digital
Speaker 6: space are going to do digital transactions. They're going to
Speaker 6: communicate virtually through the Internet. I just don't see a
Speaker 6: world where people are using credit cards to subscribe. I
Speaker 6: don't see I see a world where people are using
Speaker 6: their their apps to acquire content and things that they want,
Speaker 6: but in like such a fast pace and a real
Speaker 6: time that you know, there's no there's no limits to
Speaker 6: what people can do. I just it's pretty scary because
Speaker 6: again I just think about the opportunity that's there. But
Speaker 6: I but I'm optimistic about it because there's no there's
Speaker 6: no limits, Like there's nothing stopping anybody right now, like
Speaker 6: what with what what fan base is right now? There's
Speaker 6: nothing stopping anybody to say, cool, come here, hit this button,
Speaker 6: a screen pops up, hit subscribe and you get paid
Speaker 6: from anybody that can. That's in one hundred and ninety
Speaker 6: plus countries and territories. The fan bases in on Irish
Speaker 6: are Android and actually making money. That's scary because I
Speaker 6: don't When I I saw this thing on Nvidio on
Speaker 6: the jobs, the n video uh roll out with the
Speaker 6: robots and all.
Speaker 1: The chips and stuff they built with the black blob. Yeah, bro,
Speaker 1: I was saying, well there goes your job. He said something.
Speaker 6: I was like, that's they are them jobs is gone,
Speaker 6: he said, I can't.
Speaker 1: He said something that the chip does.
Speaker 6: I was like, Oh, they that whole that whole sector
Speaker 6: is gone like it like like complete sectors of the
Speaker 6: industry that are wiped out. And we're seeing we're already
Speaker 6: getting we're seeing massive layoffs and all these tech companies
Speaker 6: already and the music business and TV and film like
Speaker 6: those three sectors they're laying.
Speaker 1: People off already.
Speaker 6: So ten years Oh yeah, hey, I gonna be if
Speaker 6: you know, if you don't have your own director consumer Clayton,
Speaker 6: I don't know.
Speaker 1: I don't know who will be working with who, I
Speaker 1: don't know what.
Speaker 6: But my suggestion is, as I always say, start monetizing
Speaker 6: your content in some way because at least you'll be
Speaker 6: ahead of the curve. I know people want to be famous,
Speaker 6: I know people want to be seen, but you also
Speaker 6: got to understand that all this energy that we put
Speaker 6: into the stuff that we do has value.
Speaker 1: Monetize it. And you can do that on fan base
Speaker 1: And so what's the website that what's that?
Speaker 6: Oh start engine dot com slash fan base to invest again.
Speaker 6: I'm going to tell you guys, like I don't this
Speaker 6: is probably one of the most pivotal times in technology and.
Speaker 1: Social media that I've ever seen.
Speaker 6: Because we're right here and I'm specifically speaking to black culture,
Speaker 6: right if I had that, you know, if I was
Speaker 6: like if I if I'm here and I'm having that
Speaker 6: conversation with black culture, I'm telling you that we you know,
Speaker 6: we make all these platforms have their value. Like we
Speaker 6: give these platforms the things that make them cool.
Speaker 1: If you listen to.
Speaker 6: You cannot market and promote anything as being cool without
Speaker 6: the assistance of black culture.
Speaker 1: So somebody wears it.
Speaker 6: If somebody does it, it becomes the thing that everybody
Speaker 6: wants and everybody buys. And there's a value to that
Speaker 6: that there's no infrastructure underneath it, there's no foundation as
Speaker 6: opposed to being the oil, which I always feel like
Speaker 6: Black culture has always been the oil to corporate America's infrastructure.
Speaker 6: So I was like, Okay, we're the record label, but
Speaker 6: you all the salts and all the dances and all that,
Speaker 6: y'all pump this through this, but we don't want y'all
Speaker 6: to own the well. And that's my whole thing is about,
Speaker 6: is like we have to own infrastructure. We're not building infrastructure.
Speaker 6: I think we're always going to be playing this game
Speaker 6: of where we want to be respected and we want
Speaker 6: our seat at the table and all that kind of stuff.
Speaker 6: And I'm like, yo, I'm I'm right along with Tyler Perry.
Speaker 6: I'm building my own tech table. I'm not trying to
Speaker 6: be out of San Francisco and I'm not trying to
Speaker 6: do any of that. I'm trying to give everybody an
Speaker 6: opportunity to own and be equitable and have that. So again,
Speaker 6: go to start engine dot com slash fan base to
Speaker 6: invest the minimum to invest it's three ninety nine.
Speaker 1: We're raising seventeen million. I say this number all the.
Speaker 6: Time because the average investment that we get that we
Speaker 6: that we've been getting in this race. We've already raised
Speaker 6: three hundred thousand. So we've already just started like a
Speaker 6: week week and a half ago. We've alread raised a
Speaker 6: right in one thousand. And what's more important about that
Speaker 6: is how fast we raise the capital. I don't doubt
Speaker 6: the ability that we'll raise seventeen million dollars, But is
Speaker 6: it gonna take me a year, or is it gonna
Speaker 6: take me two months, or it's gonna need two years.
Speaker 6: It's gonna take me you two months, if I raise
Speaker 6: money in two months, then we off to the races.
Speaker 6: And that's the velocity. So the opportunity to be able
Speaker 6: to do that, so you know, awning part of this
Speaker 6: going to start engine and then being able to scale
Speaker 6: this business and and and really take advantage of what's
Speaker 6: going on.
Speaker 1: We have we have to do this. I'm looking like, yo, if.
Speaker 6: We don't do this, don't blame me, because you know,
Speaker 6: I think we I think I've done more than enough
Speaker 6: to say that we can do it?
Speaker 1: Can you having my brother appreciation you as always? Thank
Speaker 1: you guy, may show that you download the fan base app. Yeah,
Speaker 1: Mari and Donald shout out in best bet ata all
Speaker 1: right for sure? Yeah sure yeah.
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