1 00:00:01,520 --> 00:00:08,880 Speaker 1: Af roa Tech Oakland, California. I'm in the main expo 2 00:00:09,000 --> 00:00:12,880 Speaker 1: hall with Charles Hudson, managing partner at Precursive Ventures, talking 3 00:00:12,920 --> 00:00:17,079 Speaker 1: about investing in early stage startups. So many companies get 4 00:00:17,079 --> 00:00:19,880 Speaker 1: sold the idea that farming out technic contractors or all 5 00:00:19,960 --> 00:00:24,560 Speaker 1: short developers undercut your opportunity to build something meaningful, that 6 00:00:24,640 --> 00:00:26,840 Speaker 1: if you can't hire the talent in the house, that 7 00:00:26,960 --> 00:00:30,280 Speaker 1: you might be doing this wrong. What does D say 8 00:00:30,320 --> 00:00:32,480 Speaker 1: about that? So? I think a long time ago, most 9 00:00:32,479 --> 00:00:37,080 Speaker 1: technology products built by tech startups were deeply technical. So 10 00:00:37,120 --> 00:00:40,839 Speaker 1: if you're Intel, you're building chips and motherboards. A lot 11 00:00:40,840 --> 00:00:42,640 Speaker 1: of the companies I meet today, I don't mean this 12 00:00:42,680 --> 00:00:45,319 Speaker 1: to denegrate their products. The products they're building have really 13 00:00:45,400 --> 00:00:49,400 Speaker 1: low technical risk. You're building a retail experience. You're gonna 14 00:00:49,440 --> 00:00:53,680 Speaker 1: start on Shopify. Do you really need Google engineer to 15 00:00:53,720 --> 00:00:55,720 Speaker 1: help you get started on Shopify? I don't think so. 16 00:00:56,280 --> 00:00:57,640 Speaker 1: So the way I think about it is, if your 17 00:00:57,680 --> 00:01:00,560 Speaker 1: product has relatively low technical risk, the most important thing 18 00:01:00,560 --> 00:01:02,360 Speaker 1: is to get it felt, And if that's done by 19 00:01:02,360 --> 00:01:04,000 Speaker 1: an agency or an a worker to get you to 20 00:01:04,080 --> 00:01:08,400 Speaker 1: view one, I think that's totally fine. I'm Will Lucas 21 00:01:08,680 --> 00:01:12,720 Speaker 1: Mrs Black Tech, Green Money. I'm gonna introduce you to 22 00:01:12,760 --> 00:01:14,959 Speaker 1: some of the biggest names, some of the brightest minds 23 00:01:14,959 --> 00:01:18,000 Speaker 1: and brilliant ideas. If you're black in building are simply 24 00:01:18,080 --> 00:01:20,920 Speaker 1: using tech to secure your bag, this podcast is for you. 25 00:01:26,040 --> 00:01:29,600 Speaker 1: Claren's Bethew is founder and CEO at ups, a technology 26 00:01:29,640 --> 00:01:33,280 Speaker 1: company offering consumers an alternative when purchasing extended warranties for 27 00:01:33,319 --> 00:01:37,520 Speaker 1: electronics like mobile devices and home appliances. He recently closed 28 00:01:37,520 --> 00:01:41,480 Speaker 1: an eighteen million dollars Series A funding round, as Clarence 29 00:01:41,520 --> 00:01:44,120 Speaker 1: about the counts of that. With several black owned startups 30 00:01:44,160 --> 00:01:48,400 Speaker 1: announcing large fundraises recently Upsee among them, is there still 31 00:01:48,480 --> 00:01:51,320 Speaker 1: validity to the idea that there's still so little progress 32 00:01:51,360 --> 00:01:54,520 Speaker 1: to show for black founders raising sufficient capital to build 33 00:01:54,520 --> 00:01:57,920 Speaker 1: and scale their businesses. Do I believe that that narrative 34 00:01:58,000 --> 00:02:02,680 Speaker 1: has changed? No. I think oftentimes we look at when 35 00:02:03,320 --> 00:02:07,480 Speaker 1: ye know Will has a show, right, or Clarence raises 36 00:02:07,560 --> 00:02:10,600 Speaker 1: some money, or you know, this black black person does 37 00:02:10,680 --> 00:02:13,960 Speaker 1: this one thing, and we started looking at the narrative like, look, 38 00:02:14,000 --> 00:02:17,320 Speaker 1: it's getting better and and the truth is I don't 39 00:02:17,360 --> 00:02:20,240 Speaker 1: believe that. Is it's it's gotten better for me, which 40 00:02:20,280 --> 00:02:24,200 Speaker 1: is okay, it's great, But I'm also not I'm not 41 00:02:24,280 --> 00:02:26,400 Speaker 1: in this game just for me. I'm in this for 42 00:02:26,400 --> 00:02:29,440 Speaker 1: for all of us. So I think why I've been 43 00:02:29,720 --> 00:02:34,120 Speaker 1: been blessed and lucky and fortunate, Um, it's we still 44 00:02:34,160 --> 00:02:36,560 Speaker 1: have such a long way to go, you know. So 45 00:02:36,639 --> 00:02:39,800 Speaker 1: we see like these winds that people like you just 46 00:02:39,919 --> 00:02:42,720 Speaker 1: raised eighteen million dollars, people like Squire just raised a 47 00:02:42,720 --> 00:02:45,480 Speaker 1: bunch of money, and there's there's so many more people 48 00:02:45,480 --> 00:02:50,239 Speaker 1: who have raised money, both institutionally and even like with crowdfunding. 49 00:02:50,639 --> 00:02:54,200 Speaker 1: And I wonder, like, what if you could give me 50 00:02:54,280 --> 00:02:57,960 Speaker 1: like your you know, two minute, three minute state of 51 00:02:58,320 --> 00:03:01,360 Speaker 1: black companies being funded, what would you say it looks 52 00:03:01,400 --> 00:03:05,520 Speaker 1: like at present day? I think at present day, what 53 00:03:05,600 --> 00:03:09,079 Speaker 1: we see is what Solange and I'm doing at the Squire, right, 54 00:03:09,200 --> 00:03:13,240 Speaker 1: we see up see, we see what Steven and those 55 00:03:13,240 --> 00:03:16,200 Speaker 1: guys are doing over at a kids company about like 56 00:03:16,320 --> 00:03:19,560 Speaker 1: we see those moments, but remember those moments are like 57 00:03:19,720 --> 00:03:23,600 Speaker 1: they're in tech Crunch, the Black Enterprise that you know 58 00:03:23,680 --> 00:03:27,920 Speaker 1: that then all of these other things. And and I 59 00:03:28,000 --> 00:03:31,240 Speaker 1: still hear so many stories every day of founders with 60 00:03:31,320 --> 00:03:35,560 Speaker 1: great ideas, um, great businesses who are not getting funded 61 00:03:35,640 --> 00:03:39,280 Speaker 1: at the rate of our counterparts again funded so ideas 62 00:03:39,320 --> 00:03:42,680 Speaker 1: on the napkin or I haven't quite hit traction yet. 63 00:03:43,040 --> 00:03:45,880 Speaker 1: And we know that our counterparts, like they get the 64 00:03:45,880 --> 00:03:48,400 Speaker 1: opportunity to figure out traction and figure out go to 65 00:03:48,480 --> 00:03:51,280 Speaker 1: go to market. Oftentimes we don't get a chance to 66 00:03:51,280 --> 00:03:54,720 Speaker 1: figure that stuff out. And so I don't think we're 67 00:03:54,760 --> 00:03:59,000 Speaker 1: any better off than we were two years ago. They're 68 00:03:59,040 --> 00:04:02,240 Speaker 1: just there's more news around us because what happened with 69 00:04:02,280 --> 00:04:05,400 Speaker 1: George Floyd anywhere happened without right. So there's it is. 70 00:04:05,600 --> 00:04:08,960 Speaker 1: It is pretty cool to announce a black person's raise 71 00:04:09,120 --> 00:04:12,560 Speaker 1: or black person show or a black person X right 72 00:04:12,560 --> 00:04:17,640 Speaker 1: now because you're gonna get clicks. Yeah, And when I 73 00:04:17,720 --> 00:04:20,479 Speaker 1: read your um and it's been well documented that you 74 00:04:20,520 --> 00:04:23,680 Speaker 1: came through tech Stars program when you had this idea 75 00:04:23,800 --> 00:04:27,120 Speaker 1: for this warranty business, and I wonder, you know, how 76 00:04:27,320 --> 00:04:29,839 Speaker 1: did you go for capital first or did you go 77 00:04:29,920 --> 00:04:33,200 Speaker 1: for customers first? If you went for customers first, you know, 78 00:04:33,360 --> 00:04:36,160 Speaker 1: how did you get that attraction when you know, if 79 00:04:36,200 --> 00:04:38,880 Speaker 1: you're selling warranties, that means you gotta have the money 80 00:04:39,040 --> 00:04:41,960 Speaker 1: to be able to put it out if I break 81 00:04:42,240 --> 00:04:46,359 Speaker 1: my device, right, Yeah, I got lucky in the early days, 82 00:04:46,400 --> 00:04:48,880 Speaker 1: I had some former angel investors who put a little 83 00:04:48,880 --> 00:04:52,120 Speaker 1: bit of money and some time and some built out 84 00:04:52,120 --> 00:04:54,880 Speaker 1: our first kind of m v P, and so out 85 00:04:54,880 --> 00:04:56,920 Speaker 1: of the gate I had, you know, we while we 86 00:04:56,920 --> 00:04:59,040 Speaker 1: were going at the customers, we had a little bit 87 00:04:59,040 --> 00:05:02,440 Speaker 1: of money in the bank of folks that could help us. UM. 88 00:05:02,480 --> 00:05:05,400 Speaker 1: But when we got into tech Stars. Tech Stars really 89 00:05:06,080 --> 00:05:09,760 Speaker 1: turned me on too, like what venture was and what 90 00:05:09,800 --> 00:05:12,479 Speaker 1: it is and what it can be. Because before tech 91 00:05:12,480 --> 00:05:14,640 Speaker 1: Stars I didn't know how to raise that and raise 92 00:05:14,720 --> 00:05:18,520 Speaker 1: one venture dollar. I didn't understand how you play the 93 00:05:18,600 --> 00:05:22,320 Speaker 1: venture game. I didn't understand how you pitch. I just 94 00:05:22,440 --> 00:05:24,400 Speaker 1: know I had a bunch of gumption to try to 95 00:05:24,440 --> 00:05:26,440 Speaker 1: do this, but I didn't know the game there was 96 00:05:26,640 --> 00:05:29,560 Speaker 1: in in tech Stars where like, hey, okay, you have 97 00:05:29,600 --> 00:05:32,960 Speaker 1: all this possess in this charisma, now let us teach 98 00:05:32,960 --> 00:05:34,560 Speaker 1: you how to actually play the game the way it's 99 00:05:34,560 --> 00:05:36,240 Speaker 1: supposed to be played, so you can actually get money 100 00:05:36,240 --> 00:05:38,400 Speaker 1: in the bank. So I would say we probably went 101 00:05:38,440 --> 00:05:40,920 Speaker 1: for customers first UM and didn't learn how to raise 102 00:05:40,960 --> 00:05:44,320 Speaker 1: money later. So let's talk about that tech Stars program 103 00:05:44,320 --> 00:05:47,479 Speaker 1: because so clarance about here. Today. Let's say you are 104 00:05:47,640 --> 00:05:53,520 Speaker 1: reviewing that Clarances application to tech Stars. Um, because you 105 00:05:53,680 --> 00:05:57,880 Speaker 1: successfully got into the program. If you're reviewing your application 106 00:05:58,080 --> 00:06:04,000 Speaker 1: as the reviewer, what is it in histories Clarence application 107 00:06:04,480 --> 00:06:06,440 Speaker 1: that says, you know what, this guy's got something, then 108 00:06:06,520 --> 00:06:08,680 Speaker 1: let's let him in. Because there's the thousands of people 109 00:06:08,680 --> 00:06:11,480 Speaker 1: who apply to these pro tenies accelerators and boot camps, 110 00:06:11,839 --> 00:06:14,680 Speaker 1: and you got in. So if you were reviewing your 111 00:06:14,720 --> 00:06:19,800 Speaker 1: application from that day, what was it that said, yeah, yeah, 112 00:06:19,839 --> 00:06:24,800 Speaker 1: he's somebody we want. I don't believe it had us 113 00:06:24,839 --> 00:06:27,600 Speaker 1: getting in. It didn't have anything to do with our application. 114 00:06:28,640 --> 00:06:31,080 Speaker 1: I think us getting in had everything to do with 115 00:06:31,160 --> 00:06:36,120 Speaker 1: how bold I was walking into the program. Um, some 116 00:06:36,240 --> 00:06:40,080 Speaker 1: of it was fake boldness because I didn't internally, I 117 00:06:40,120 --> 00:06:43,719 Speaker 1: really didn't feel like I just I deserved to be 118 00:06:43,839 --> 00:06:45,640 Speaker 1: and and and you're asking me to go back to 119 00:06:45,680 --> 00:06:49,080 Speaker 1: a time before I know what I know now. But 120 00:06:49,320 --> 00:06:51,880 Speaker 1: going into the program, we have people from Silicon Valley, 121 00:06:51,920 --> 00:06:55,320 Speaker 1: we have people from New York. I was really really intimidated. 122 00:06:56,000 --> 00:06:58,279 Speaker 1: I was. I was. My wife would tell you I 123 00:06:58,320 --> 00:07:02,640 Speaker 1: was scared because I was, Wow, there's you know, there's 124 00:07:02,640 --> 00:07:05,719 Speaker 1: a woman from Silicon Valley who was at HP for 125 00:07:05,760 --> 00:07:08,920 Speaker 1: all these years and like had this network and was great, 126 00:07:09,800 --> 00:07:12,800 Speaker 1: and I think I just had to be bold. And 127 00:07:13,240 --> 00:07:15,640 Speaker 1: you know, you know, my story is well documented. Like 128 00:07:15,680 --> 00:07:17,760 Speaker 1: I'm just a street kid, man. I come from the hood. 129 00:07:18,200 --> 00:07:20,000 Speaker 1: I grew up, you know, doing all the wrong things 130 00:07:20,000 --> 00:07:23,240 Speaker 1: that you bossibly can do. So in times of of 131 00:07:23,240 --> 00:07:26,360 Speaker 1: of of being nervous and in times of like not 132 00:07:26,440 --> 00:07:28,360 Speaker 1: knowing what to do, it's kind of the only thing 133 00:07:28,400 --> 00:07:30,720 Speaker 1: that you can turn to is your confidence and being bold. 134 00:07:31,080 --> 00:07:33,040 Speaker 1: And I would say that is what I was just 135 00:07:33,080 --> 00:07:35,080 Speaker 1: bold enough to think, Yeah, I can come in, I 136 00:07:35,080 --> 00:07:37,320 Speaker 1: can do this um and and it's worked out so 137 00:07:37,360 --> 00:07:40,040 Speaker 1: far for us. So let's let's talk. Let's dig into 138 00:07:40,120 --> 00:07:43,480 Speaker 1: your history a little bit, because I wonder what was 139 00:07:43,600 --> 00:07:46,760 Speaker 1: that moment where you realized what Silicon Valley was and 140 00:07:46,800 --> 00:07:51,440 Speaker 1: what venture capital was to be nervous walking into those rooms, 141 00:07:51,480 --> 00:07:53,680 Speaker 1: like you said, you said yourself, you know, you were 142 00:07:53,720 --> 00:07:55,640 Speaker 1: a street kid. So so many of us come from 143 00:07:55,680 --> 00:07:58,840 Speaker 1: these backgrounds, and we and too many in our neighborhoods 144 00:07:58,880 --> 00:08:01,480 Speaker 1: still don't know what silok and Valley is. What was 145 00:08:01,520 --> 00:08:05,640 Speaker 1: your introduction to that world beyond you know, wanting to 146 00:08:05,680 --> 00:08:08,680 Speaker 1: build something, which we'll talk about. What was your introduction 147 00:08:08,720 --> 00:08:11,920 Speaker 1: to that specific world that says, you know, this is 148 00:08:11,920 --> 00:08:14,840 Speaker 1: a little bit intimidating because this is could be my future. 149 00:08:15,200 --> 00:08:17,200 Speaker 1: You know, I'm walking into a room that people who 150 00:08:17,560 --> 00:08:19,760 Speaker 1: in many ways, not all of the ways, but in 151 00:08:19,800 --> 00:08:23,800 Speaker 1: many ways hold the keys. Right. My first foray with 152 00:08:23,800 --> 00:08:27,040 Speaker 1: the Silicon Valley was actually in Silicon Valley. UM I 153 00:08:27,080 --> 00:08:31,640 Speaker 1: went to. I was in a program called Village Capital UM. 154 00:08:31,840 --> 00:08:34,040 Speaker 1: They run a great program where they get the top 155 00:08:34,080 --> 00:08:35,880 Speaker 1: two companies a hundred grad at the end of the 156 00:08:35,920 --> 00:08:39,239 Speaker 1: program and their final the final piece of the program 157 00:08:39,400 --> 00:08:42,840 Speaker 1: was in Silicon Valley and it was at this big 158 00:08:42,920 --> 00:08:46,280 Speaker 1: law firm and then you moved to UM this like 159 00:08:46,360 --> 00:08:50,240 Speaker 1: where all the Silicon Valley like investors meet up deal 160 00:08:50,800 --> 00:08:53,960 Speaker 1: and I remember we had like eighty Silicon Valley investors 161 00:08:54,000 --> 00:08:56,199 Speaker 1: there and it was a hard lesson for me to 162 00:08:56,280 --> 00:09:00,319 Speaker 1: learn they didn't give a damn about me, Like it 163 00:09:00,760 --> 00:09:03,760 Speaker 1: was clear that I was a nobody, that I meant 164 00:09:03,760 --> 00:09:05,920 Speaker 1: nothing to them. I was just a black guy in 165 00:09:05,960 --> 00:09:09,280 Speaker 1: the room. And I remember being like, wow, like nobody 166 00:09:09,320 --> 00:09:11,600 Speaker 1: even even though I felt like I was, I was 167 00:09:11,960 --> 00:09:15,240 Speaker 1: like I won the competition. So even though I felt 168 00:09:15,320 --> 00:09:17,440 Speaker 1: like man like, like I know what I'm doing, that 169 00:09:17,600 --> 00:09:19,079 Speaker 1: like I don't have it all figured out, but I'm 170 00:09:19,080 --> 00:09:22,040 Speaker 1: figuring it out. And you know, I'm careiss mag I'm 171 00:09:22,040 --> 00:09:24,040 Speaker 1: already saying that he said you want to be and 172 00:09:24,080 --> 00:09:27,520 Speaker 1: it was clear, you know, that was two sixteen. It 173 00:09:27,640 --> 00:09:30,200 Speaker 1: was like, now I don't believe. And I actually had 174 00:09:30,200 --> 00:09:33,280 Speaker 1: the investor tell me. He said to me, Clai, I've 175 00:09:33,320 --> 00:09:36,720 Speaker 1: never seen a black founder go to exit or I 176 00:09:36,800 --> 00:09:40,880 Speaker 1: p o at like a billion plus exit. So I 177 00:09:40,960 --> 00:09:43,600 Speaker 1: just have a hard time believing that a black founder 178 00:09:43,640 --> 00:09:47,440 Speaker 1: can build a big company. So I'm just not interested. Um, 179 00:09:47,480 --> 00:09:52,760 Speaker 1: and it was so great, So one can take that 180 00:09:52,800 --> 00:09:56,840 Speaker 1: many ways. UM, you being the guy who you grew 181 00:09:56,920 --> 00:09:59,760 Speaker 1: up being. When you have somebody put that kind of 182 00:10:00,040 --> 00:10:02,560 Speaker 1: you know, stamp on you saying you know, I've never 183 00:10:02,559 --> 00:10:06,720 Speaker 1: seen nobody like you, UM do this that A don't 184 00:10:06,720 --> 00:10:10,200 Speaker 1: you like? What did your spirits? How you like in 185 00:10:10,280 --> 00:10:14,000 Speaker 1: that moment? I'm gonna be that guy? Can we curse 186 00:10:14,040 --> 00:10:18,160 Speaker 1: on this show? Um? Look, I'm a I'm a big 187 00:10:18,240 --> 00:10:21,760 Speaker 1: chip on the shoulder type of guy. And so when 188 00:10:21,760 --> 00:10:24,560 Speaker 1: people were telling me, especially earlier only in the journey, 189 00:10:24,640 --> 00:10:27,319 Speaker 1: that I would never do this, I would never do that. Like, 190 00:10:27,600 --> 00:10:29,520 Speaker 1: you don't have the background, you don't have the pedigree. 191 00:10:29,559 --> 00:10:31,400 Speaker 1: That that's the word I kept hearing. You don't have 192 00:10:31,400 --> 00:10:33,680 Speaker 1: the pedigree. You didn't go to Harvard, you didn't drop 193 00:10:33,679 --> 00:10:36,080 Speaker 1: out of Stanford, you don't have the network. Man, I 194 00:10:36,120 --> 00:10:39,440 Speaker 1: tend to say fuck you, like in my mind, right 195 00:10:39,760 --> 00:10:42,360 Speaker 1: in my mind, I'm like, all right, okay, I'm gonna 196 00:10:42,360 --> 00:10:46,120 Speaker 1: show you. UM. And I think at a certain I'm 197 00:10:46,120 --> 00:10:48,960 Speaker 1: actually getting out of that phase now of this journey 198 00:10:48,960 --> 00:10:51,960 Speaker 1: because UM, everybody seemed to believe that we can do 199 00:10:52,000 --> 00:10:54,640 Speaker 1: what we can do now. But early on in the journey, 200 00:10:54,679 --> 00:10:58,080 Speaker 1: I would use that as as motivation UM to just 201 00:10:58,120 --> 00:11:00,200 Speaker 1: be like, all right, well you don't believe me, let 202 00:11:00,200 --> 00:11:04,400 Speaker 1: me show you. What do you think happens in UM 203 00:11:04,520 --> 00:11:09,960 Speaker 1: the tech space for black entrepreneurs. UM. Do you think 204 00:11:09,960 --> 00:11:12,240 Speaker 1: not enough of us have that? Or do you think 205 00:11:12,679 --> 00:11:15,600 Speaker 1: so many of us have that that maybe they're not 206 00:11:15,640 --> 00:11:19,760 Speaker 1: getting recognized? Like how come not enough of us? As 207 00:11:19,800 --> 00:11:21,959 Speaker 1: to your earlier point, and it is very well know, 208 00:11:22,120 --> 00:11:25,000 Speaker 1: not enough of us are raising capital like at the 209 00:11:25,080 --> 00:11:27,520 Speaker 1: levels that you have and that others that we've mentioned. 210 00:11:28,400 --> 00:11:30,880 Speaker 1: Do not enough of us have that? Or is there 211 00:11:30,920 --> 00:11:35,080 Speaker 1: are there other issues that UM keep people keep us 212 00:11:35,080 --> 00:11:37,360 Speaker 1: from getting to the place to where we're even having 213 00:11:37,360 --> 00:11:40,960 Speaker 1: the conversation at that level with an investor. Yeah, I 214 00:11:41,000 --> 00:11:42,680 Speaker 1: see it both ways, to be honest with you. And 215 00:11:42,720 --> 00:11:44,760 Speaker 1: then this is, yeah, this is always tough for me 216 00:11:44,760 --> 00:11:48,800 Speaker 1: to talk about. There's one side of it from a founder. 217 00:11:48,920 --> 00:11:50,960 Speaker 1: You know, you're a founder, right, Like we're founders where 218 00:11:51,000 --> 00:11:54,199 Speaker 1: we're like like, we all think that we deserve money 219 00:11:54,520 --> 00:11:57,000 Speaker 1: and that's cool and like, yes, we should be more 220 00:11:57,040 --> 00:11:59,160 Speaker 1: bold than whatever. But on the other side of me, 221 00:11:59,240 --> 00:12:02,120 Speaker 1: which is I'm out at True Ventures out of San Francisco. 222 00:12:02,320 --> 00:12:05,680 Speaker 1: They want to top see stage firms. I also get 223 00:12:05,720 --> 00:12:08,800 Speaker 1: a lot of inbound from black founders, and what I 224 00:12:08,800 --> 00:12:12,000 Speaker 1: see a lot of times is we're not ready for 225 00:12:12,160 --> 00:12:14,480 Speaker 1: prime time. And not only are we not ready for 226 00:12:14,520 --> 00:12:17,760 Speaker 1: prime time because we have to fight and call and 227 00:12:17,800 --> 00:12:21,240 Speaker 1: scratch and like have that kind of screw you mentality, 228 00:12:21,400 --> 00:12:26,120 Speaker 1: we're also don't have our ears open here like what 229 00:12:26,160 --> 00:12:27,720 Speaker 1: we need to hear to get to the next level. 230 00:12:27,720 --> 00:12:29,840 Speaker 1: And I give you I give you a quick example. 231 00:12:30,320 --> 00:12:32,400 Speaker 1: I was talking to a founder I don't know a 232 00:12:32,400 --> 00:12:36,600 Speaker 1: few months ago and the we were going back and 233 00:12:36,600 --> 00:12:40,040 Speaker 1: forth over zoomed and I was like, hey, like, and 234 00:12:40,360 --> 00:12:42,240 Speaker 1: I'm not the one to give advice, but I do 235 00:12:42,400 --> 00:12:45,959 Speaker 1: give you, like, here's what it worked for Clarence. Here's 236 00:12:46,000 --> 00:12:48,440 Speaker 1: what I did to have success, and feel free to 237 00:12:48,480 --> 00:12:51,040 Speaker 1: follow it or not. But there's just fundamental things you 238 00:12:51,080 --> 00:12:53,120 Speaker 1: can't do in a pitch you can't do in the 239 00:12:53,160 --> 00:12:55,199 Speaker 1: pitch jack, and just certain stuff you know, Like I 240 00:12:55,200 --> 00:12:57,000 Speaker 1: mean you can probably say you have our phone call. 241 00:12:57,120 --> 00:13:01,680 Speaker 1: Like and I was going back and forth with the 242 00:13:01,720 --> 00:13:04,600 Speaker 1: founder and I said, hey, I really think you know 243 00:13:04,640 --> 00:13:07,200 Speaker 1: you should try doing this, like like you don't talk 244 00:13:07,240 --> 00:13:09,040 Speaker 1: about traction. I think I was talking about traction. You 245 00:13:09,080 --> 00:13:11,760 Speaker 1: don't talk about traction anywhere. And he's like, well, I'm 246 00:13:11,800 --> 00:13:14,080 Speaker 1: kind of pre revenue. I said, great, but you still 247 00:13:14,120 --> 00:13:16,680 Speaker 1: have some traction points like how fast are you building 248 00:13:16,720 --> 00:13:20,520 Speaker 1: your product or or how many UM people on your 249 00:13:20,520 --> 00:13:22,840 Speaker 1: wait list do you have? Like all of that is 250 00:13:22,920 --> 00:13:25,760 Speaker 1: considered traction in this game because dudes are raising millions 251 00:13:25,760 --> 00:13:28,240 Speaker 1: of dollars off ideas on the napkin. So you show 252 00:13:28,280 --> 00:13:30,760 Speaker 1: some traction, you can get it. And the dude literally 253 00:13:30,800 --> 00:13:33,679 Speaker 1: looked at me and he was like, f you, you 254 00:13:33,760 --> 00:13:35,959 Speaker 1: just don't want to see me when you want to 255 00:13:36,000 --> 00:13:38,040 Speaker 1: be the only one in the room, blah blah blah 256 00:13:38,040 --> 00:13:43,440 Speaker 1: blah blah. And I remember thinking like man like, like 257 00:13:43,720 --> 00:13:47,480 Speaker 1: if you had just listened, I wasn't I wasn't here. 258 00:13:48,360 --> 00:13:50,320 Speaker 1: I wasn't here too to hurt you. I was here 259 00:13:50,320 --> 00:13:52,599 Speaker 1: to give you everything that somebody gave it to me 260 00:13:52,720 --> 00:13:57,000 Speaker 1: at one point. And so I think we why, yes, 261 00:13:57,120 --> 00:14:01,840 Speaker 1: there's a funding problem, there's also thattitude UM, and I 262 00:14:01,920 --> 00:14:03,640 Speaker 1: had it at the beginning. I had to like, I 263 00:14:03,679 --> 00:14:07,199 Speaker 1: got checked on it, and somebody sat me down and said, hey, man, 264 00:14:07,559 --> 00:14:09,240 Speaker 1: you're not going to be your best stelf unless you 265 00:14:09,360 --> 00:14:13,440 Speaker 1: learn to listen. And I was like, well, what do 266 00:14:13,480 --> 00:14:15,960 Speaker 1: you mean that that? And that it's just like everybody's 267 00:14:15,960 --> 00:14:18,760 Speaker 1: not out here to hurt you. Some people are out 268 00:14:18,800 --> 00:14:21,040 Speaker 1: here to help you, and you have to decipher between 269 00:14:21,040 --> 00:14:25,760 Speaker 1: the two. So I think that we have to UM, 270 00:14:26,240 --> 00:14:28,040 Speaker 1: because we've been in a fight, in the struggle for 271 00:14:28,080 --> 00:14:30,440 Speaker 1: so long. We have to understand that there are people 272 00:14:30,520 --> 00:14:33,720 Speaker 1: out here to help UM and sometimes you gotta learn 273 00:14:33,720 --> 00:14:36,920 Speaker 1: to just listen and then walk away gracefully and decipher 274 00:14:36,960 --> 00:14:39,120 Speaker 1: and take what you need out of it. So how 275 00:14:39,120 --> 00:14:43,040 Speaker 1: do you decipher through that? How do you know who's 276 00:14:43,080 --> 00:14:45,480 Speaker 1: really trying to give you some game and the ones 277 00:14:45,520 --> 00:14:49,080 Speaker 1: that are, you know, just saying whatever they got to 278 00:14:49,120 --> 00:14:52,520 Speaker 1: say because they don't believe. Yeah, well, I mean, everybody 279 00:14:52,560 --> 00:14:56,640 Speaker 1: to me deserves to be listened to. How I take 280 00:14:56,680 --> 00:14:59,840 Speaker 1: it is up to me. So if you're giving me advice, 281 00:15:00,720 --> 00:15:03,840 Speaker 1: and I may say, well, like man like, thanks for 282 00:15:03,880 --> 00:15:06,560 Speaker 1: the advice. Man, I appreciate it, and I'm so humbled 283 00:15:07,000 --> 00:15:09,080 Speaker 1: that you would even take your time out to give 284 00:15:09,120 --> 00:15:11,720 Speaker 1: it to me, then it's my job to walk away 285 00:15:11,760 --> 00:15:16,160 Speaker 1: and start to look at what you're saying and say, Okay, 286 00:15:16,200 --> 00:15:18,760 Speaker 1: you know what, it's kind of full of it, but 287 00:15:19,840 --> 00:15:21,400 Speaker 1: this a little this, a little timper cent that he 288 00:15:21,480 --> 00:15:23,440 Speaker 1: gave me, it's gonna help my business go to the 289 00:15:23,440 --> 00:15:25,680 Speaker 1: next level. Often times we walk away and we say 290 00:15:25,720 --> 00:15:27,360 Speaker 1: if we don't agree with one thing that you say, 291 00:15:27,400 --> 00:15:30,040 Speaker 1: we stopped agreeing with everything that you say, and I 292 00:15:30,080 --> 00:15:33,000 Speaker 1: just don't believe that that's true. There's nuggets in in 293 00:15:33,320 --> 00:15:36,000 Speaker 1: all of this advice that you should get um, and 294 00:15:36,320 --> 00:15:40,160 Speaker 1: it takes a humble spirit to to to figure out 295 00:15:40,160 --> 00:15:42,800 Speaker 1: that timper cent that you should be taking. You know, 296 00:15:42,840 --> 00:15:45,160 Speaker 1: I wonder you're making me think about when you said 297 00:15:45,200 --> 00:15:47,680 Speaker 1: the investors said, you know, I've never seen anybody you 298 00:15:47,680 --> 00:15:49,520 Speaker 1: know exit at the billion dollars. I p o who 299 00:15:49,600 --> 00:15:52,440 Speaker 1: looked like you and you talked about that that happened 300 00:15:52,520 --> 00:15:57,160 Speaker 1: after winning a competition, and I wonder how much stock 301 00:15:57,280 --> 00:16:00,760 Speaker 1: we should be putting into competitions then, because you know, 302 00:16:00,840 --> 00:16:05,680 Speaker 1: there's a lot of diversity theater out here, UM and two. Now, 303 00:16:05,880 --> 00:16:08,520 Speaker 1: checks can mean nothing to a lot of these companies. 304 00:16:08,520 --> 00:16:10,560 Speaker 1: And it could be, hey, we had a black company 305 00:16:10,560 --> 00:16:14,400 Speaker 1: with our competition. You know, they got this check and 306 00:16:14,440 --> 00:16:18,400 Speaker 1: so apparently to that investor, you winning a competition was 307 00:16:18,440 --> 00:16:22,560 Speaker 1: not enough to say this guy clears is onto something. 308 00:16:23,400 --> 00:16:26,960 Speaker 1: How should we be looking at competitions, UM with a 309 00:16:27,040 --> 00:16:30,520 Speaker 1: critical mind but also one you know, hey, I'll take 310 00:16:30,520 --> 00:16:33,680 Speaker 1: the k But how should we also be looking at 311 00:16:33,720 --> 00:16:39,800 Speaker 1: them critically and strategically as proof points that we're onto something? Right? Right? 312 00:16:39,920 --> 00:16:43,360 Speaker 1: Great question. Competitions are great from the sampoint of you 313 00:16:43,400 --> 00:16:45,360 Speaker 1: get up, get up in front of most time a 314 00:16:45,400 --> 00:16:48,640 Speaker 1: live crowd, and practice and be able to have the 315 00:16:48,720 --> 00:16:52,400 Speaker 1: ability to understand what it's like to change in emotion 316 00:16:52,880 --> 00:16:57,520 Speaker 1: in the room, because great founders can change emotion in 317 00:16:57,520 --> 00:17:00,640 Speaker 1: the room. Great founders can make you like, here a 318 00:17:00,720 --> 00:17:04,000 Speaker 1: business and you said, oh, that's stupid, and then get 319 00:17:04,080 --> 00:17:05,639 Speaker 1: in front of it. You get up in front of 320 00:17:05,640 --> 00:17:08,760 Speaker 1: the stage and the whole emotion in the room change, 321 00:17:08,800 --> 00:17:12,280 Speaker 1: it changes. So I think they're good for that practice. 322 00:17:12,720 --> 00:17:14,960 Speaker 1: But like you said, we can't put too much stock 323 00:17:15,000 --> 00:17:19,080 Speaker 1: in it because oftentimes these conferences, these competitions are theater 324 00:17:19,920 --> 00:17:22,119 Speaker 1: I need a black person, or need I need a 325 00:17:22,160 --> 00:17:24,280 Speaker 1: couple of black people to do. Like literally, I've been 326 00:17:24,280 --> 00:17:26,879 Speaker 1: reached out to where people say, hey, we want you 327 00:17:26,920 --> 00:17:30,520 Speaker 1: to be in our twenty dollar pitch competition, and I 328 00:17:30,560 --> 00:17:32,639 Speaker 1: send them a link to our article, to an article, 329 00:17:33,400 --> 00:17:35,920 Speaker 1: and then like you didn't even doing the whole work. 330 00:17:35,960 --> 00:17:38,200 Speaker 1: All you saw was that I was black. You know, 331 00:17:38,359 --> 00:17:42,840 Speaker 1: there's somebody more deserving for this at this stage, and 332 00:17:42,920 --> 00:17:45,280 Speaker 1: so I think there's a lot of diversity theater that 333 00:17:45,359 --> 00:17:47,400 Speaker 1: plays into this. So I think we have to look 334 00:17:47,440 --> 00:17:49,720 Speaker 1: at it for what it is. It is an opportunity 335 00:17:49,760 --> 00:17:52,000 Speaker 1: to pitch, and whenever you have the opportunity to pitch, 336 00:17:52,240 --> 00:17:55,480 Speaker 1: you should take it win loser, draw to get better 337 00:17:56,400 --> 00:17:59,480 Speaker 1: because in order, like I keep telling people, in order 338 00:17:59,560 --> 00:18:01,680 Speaker 1: to raise the money that we raise to day, you 339 00:18:01,720 --> 00:18:05,919 Speaker 1: don't many bad pitches I've had. I've had hundreds of 340 00:18:05,960 --> 00:18:08,160 Speaker 1: bad pitches in order to get to a pitch where 341 00:18:08,480 --> 00:18:10,840 Speaker 1: it may step. So I would say do it, but 342 00:18:11,040 --> 00:18:14,280 Speaker 1: understand what you're doing. We talked a little bit about 343 00:18:14,320 --> 00:18:18,320 Speaker 1: your introduction finding out that Silicon Valley even existed, right, 344 00:18:18,520 --> 00:18:21,520 Speaker 1: And and there's so many UM in our communities, the 345 00:18:21,560 --> 00:18:25,280 Speaker 1: communities that we come from, that UM that still struggle with, 346 00:18:25,359 --> 00:18:26,879 Speaker 1: you know, some of the issues that you said you 347 00:18:26,960 --> 00:18:29,720 Speaker 1: did as you were growing up. And what do you 348 00:18:29,800 --> 00:18:33,320 Speaker 1: find as a successful if we're trying to sell them on, Hey, 349 00:18:33,359 --> 00:18:35,919 Speaker 1: there's this other world out here, the world of building 350 00:18:36,600 --> 00:18:39,919 Speaker 1: really big companies. UM, what do you find as a 351 00:18:39,960 --> 00:18:44,640 Speaker 1: successful narrative or a successful story that UM would get 352 00:18:44,680 --> 00:18:47,800 Speaker 1: their attention to see that there's a viable path in 353 00:18:47,840 --> 00:18:51,560 Speaker 1: this world that they may not have considered for themselves. Right. 354 00:18:51,600 --> 00:18:54,919 Speaker 1: I speak at jails in prisons, especially before COVID. I 355 00:18:54,960 --> 00:18:56,760 Speaker 1: do that a lot, and I say the same thing 356 00:18:56,800 --> 00:19:01,240 Speaker 1: to them. I am no smarter, no more savvy, no 357 00:19:01,359 --> 00:19:04,159 Speaker 1: more like my business acumen is not any better than 358 00:19:04,200 --> 00:19:08,320 Speaker 1: any of their's. It's all about taking the time and 359 00:19:08,359 --> 00:19:10,040 Speaker 1: just doing it. Like a lot of times, it's just 360 00:19:10,080 --> 00:19:13,320 Speaker 1: about jumping into the game and being a voracious learner. 361 00:19:14,000 --> 00:19:17,240 Speaker 1: I don't believe, but I think oftentimes we make founders, 362 00:19:18,359 --> 00:19:21,320 Speaker 1: we make them feel like they're special like we are 363 00:19:21,359 --> 00:19:23,880 Speaker 1: like we have the special innate because we we feed 364 00:19:23,920 --> 00:19:27,280 Speaker 1: off the Elon musk, and it's the Steve Jobs kind 365 00:19:27,320 --> 00:19:30,680 Speaker 1: of aura, and and and the truth is, I don't 366 00:19:30,760 --> 00:19:35,040 Speaker 1: look at anything that we've done at ups as special 367 00:19:35,280 --> 00:19:37,440 Speaker 1: or unique or anything like that. I look at the 368 00:19:37,480 --> 00:19:40,320 Speaker 1: work that our team do on behalf of our customers 369 00:19:40,359 --> 00:19:44,320 Speaker 1: a special unique. But as a founder, I'm like man like, like, 370 00:19:46,000 --> 00:19:49,720 Speaker 1: there's nothing special about players. And so that is my 371 00:19:49,800 --> 00:19:52,159 Speaker 1: message to anybody. Every time I go speak, I say, 372 00:19:52,280 --> 00:19:55,399 Speaker 1: there's that special about me. All of you are smarter 373 00:19:55,480 --> 00:19:57,520 Speaker 1: than I am. All of you are more savva than 374 00:19:57,560 --> 00:19:59,919 Speaker 1: I am. The one thing that I don't know that 375 00:20:00,119 --> 00:20:02,280 Speaker 1: you all are more than me is I'm gonna outwork 376 00:20:02,320 --> 00:20:06,600 Speaker 1: you at every turn. And if you can outwork people, 377 00:20:06,880 --> 00:20:11,080 Speaker 1: because look, I got a lot of white buddies with founders. Man, 378 00:20:11,600 --> 00:20:13,520 Speaker 1: there are some of the laziest s O b s 379 00:20:13,560 --> 00:20:17,520 Speaker 1: I've ever been around in my life. Yeah, but they've 380 00:20:17,600 --> 00:20:22,080 Speaker 1: raised hundreds of millions of dollars. We can't be that. 381 00:20:22,400 --> 00:20:24,600 Speaker 1: I can't be that. I gotta outwork you in order 382 00:20:24,640 --> 00:20:26,680 Speaker 1: to get in the room. So my message I was 383 00:20:26,680 --> 00:20:28,399 Speaker 1: just saying, you want to get in the room, you 384 00:20:28,400 --> 00:20:32,320 Speaker 1: want to have a chance outwork everybody. So let's let's 385 00:20:32,320 --> 00:20:35,840 Speaker 1: go step further on there, because let's say you sold Okay, yeah, 386 00:20:35,840 --> 00:20:39,399 Speaker 1: I know businesses, you know, an opportunity out there for somebody, 387 00:20:39,520 --> 00:20:42,199 Speaker 1: but I don't really have any like brilliant ideas, Like 388 00:20:42,600 --> 00:20:46,040 Speaker 1: there's nothing special about warranties. You know, it's a warranty, right, 389 00:20:46,040 --> 00:20:49,119 Speaker 1: And so let's go a step further and say, Okay, 390 00:20:49,119 --> 00:20:52,280 Speaker 1: now you've sold me that business. There's this viable path 391 00:20:52,640 --> 00:20:55,800 Speaker 1: some way that um, I can find a different life 392 00:20:55,800 --> 00:20:59,320 Speaker 1: for myself. But I don't know, like what now, what 393 00:20:59,400 --> 00:21:03,160 Speaker 1: to do? I've in effective devalued my own idea. So 394 00:21:03,320 --> 00:21:06,639 Speaker 1: what would you say to that to to that person 395 00:21:06,800 --> 00:21:08,439 Speaker 1: just trying to figure out, like what do I do 396 00:21:08,520 --> 00:21:11,080 Speaker 1: next with They don't they don't feel like they have 397 00:21:11,080 --> 00:21:15,119 Speaker 1: an idea worthy of millions of dollars or market attention 398 00:21:15,280 --> 00:21:19,800 Speaker 1: or et cetera. Google is a powerful tool. You You 399 00:21:19,920 --> 00:21:22,960 Speaker 1: literally can start your business by googling how to start 400 00:21:22,960 --> 00:21:26,960 Speaker 1: a business. You know, there's tools like Shopify. There, there's 401 00:21:27,000 --> 00:21:29,359 Speaker 1: so many you know, big commerce, there's so many tools 402 00:21:29,359 --> 00:21:31,440 Speaker 1: where you can just say, you know what, I want 403 00:21:31,440 --> 00:21:34,080 Speaker 1: to start this thing. I'm just gonna set up a 404 00:21:34,080 --> 00:21:37,840 Speaker 1: Shopify store and figure it out. And a lot of 405 00:21:37,840 --> 00:21:40,480 Speaker 1: times again it goes back to my first comment. Sometimes 406 00:21:40,480 --> 00:21:42,920 Speaker 1: you just gotta go and do it. Like it's gonna 407 00:21:42,920 --> 00:21:45,480 Speaker 1: be all screwed up. This ain't gonna make sense. You know, 408 00:21:45,520 --> 00:21:48,040 Speaker 1: I got many buddies who wants to start businesses. They're 409 00:21:48,040 --> 00:21:49,760 Speaker 1: just like, but what I do next? Like, just go 410 00:21:49,880 --> 00:21:52,560 Speaker 1: do it and guess what when you mess up, you'll 411 00:21:52,560 --> 00:21:54,639 Speaker 1: figure out the right thing to do. A lot of 412 00:21:54,640 --> 00:21:58,040 Speaker 1: this game is not in books and and and and 413 00:21:58,080 --> 00:22:00,320 Speaker 1: all these other places that people want you to mind it. 414 00:22:00,520 --> 00:22:02,280 Speaker 1: Sometimes you gotta go do the work, mess up and 415 00:22:02,280 --> 00:22:05,920 Speaker 1: figure it out. I want to talk about the milestones 416 00:22:05,960 --> 00:22:08,199 Speaker 1: to actually raising as much money as you did. You know, 417 00:22:08,240 --> 00:22:10,600 Speaker 1: I asked you this question from the perspective of like, 418 00:22:10,680 --> 00:22:13,680 Speaker 1: how like if you're reading the Clarences application to get 419 00:22:13,680 --> 00:22:16,320 Speaker 1: in the Tech Stars. What if I'm the VC and 420 00:22:16,359 --> 00:22:20,760 Speaker 1: I'm reading um your inbound to raise this eighteen million 421 00:22:20,760 --> 00:22:23,000 Speaker 1: dollars that you're eighteen plus a million that you raised? 422 00:22:23,520 --> 00:22:26,439 Speaker 1: What if if you're the VC, talk to me about 423 00:22:26,480 --> 00:22:32,080 Speaker 1: those indicators that you presented, and what is the VC 424 00:22:32,240 --> 00:22:36,320 Speaker 1: reading that says, yeah, I want in on Clarences deal. Yeah, 425 00:22:36,359 --> 00:22:39,440 Speaker 1: I believe that there's a couple of triggers that get 426 00:22:39,560 --> 00:22:43,120 Speaker 1: vcs interested in your business. UM. One, I think traction. 427 00:22:43,920 --> 00:22:45,840 Speaker 1: But if you can show that you're growing the business 428 00:22:45,880 --> 00:22:48,480 Speaker 1: in a steady way, in a sustainable way. UM. That 429 00:22:48,640 --> 00:22:50,480 Speaker 1: was one thing that that we showed. So if I'm 430 00:22:50,480 --> 00:22:52,360 Speaker 1: a VC on the outside of like, oh, they they've 431 00:22:52,400 --> 00:22:56,199 Speaker 1: grown the business dramatically, that's great. UM Too, I'm a 432 00:22:56,240 --> 00:23:01,320 Speaker 1: big bet on team, and our Tea team is just smartest, brightest, 433 00:23:01,520 --> 00:23:04,400 Speaker 1: hardest working folks I've ever been around. And so I'm 434 00:23:04,400 --> 00:23:06,639 Speaker 1: looking at our team and I'm looking at you know, 435 00:23:06,640 --> 00:23:09,280 Speaker 1: what they've done in the past and what they're doing now. UM. 436 00:23:09,320 --> 00:23:14,080 Speaker 1: And I'm betting on that team because they're that good. UM. 437 00:23:14,119 --> 00:23:16,840 Speaker 1: And then three, I would say that the space the 438 00:23:16,880 --> 00:23:20,000 Speaker 1: industries forty eight billion dollars now supposed to grow to 439 00:23:20,040 --> 00:23:22,920 Speaker 1: be sixty seven billion, about two seven in the United 440 00:23:22,960 --> 00:23:27,200 Speaker 1: States alone, UM, a hundred sixty billion dollars globally. UM. 441 00:23:27,200 --> 00:23:30,720 Speaker 1: I'm looking at that space and say, Okay, they don't 442 00:23:30,720 --> 00:23:34,720 Speaker 1: have to get everything right to win MCAU. I think 443 00:23:34,720 --> 00:23:36,720 Speaker 1: those I think those are hard spaces going when you 444 00:23:36,800 --> 00:23:39,480 Speaker 1: gotta be right a hundred cents a time, you know, 445 00:23:39,720 --> 00:23:41,199 Speaker 1: we could be right a quarter percent of the time 446 00:23:41,240 --> 00:23:44,399 Speaker 1: and still still build a multibillion dollar business. So go 447 00:23:44,560 --> 00:23:46,160 Speaker 1: in there, because I don't hear a lot of people 448 00:23:46,240 --> 00:23:49,400 Speaker 1: talk about that. So get some education to that point there, 449 00:23:49,400 --> 00:23:53,320 Speaker 1: Please on. You don't have to be right all the 450 00:23:53,359 --> 00:23:57,240 Speaker 1: time to to find success. Yeah. So so they when 451 00:23:57,240 --> 00:24:00,679 Speaker 1: I look at some people businesses, they're like, well, if 452 00:24:00,720 --> 00:24:04,639 Speaker 1: I'm right, this is what happens, right, And I actually 453 00:24:04,640 --> 00:24:06,680 Speaker 1: don't believe that those are the best business We've seen 454 00:24:06,720 --> 00:24:11,000 Speaker 1: those businesses work out and multibillion dollar businesses. But I 455 00:24:11,080 --> 00:24:12,600 Speaker 1: didn't want to be in the business where I had 456 00:24:12,640 --> 00:24:15,080 Speaker 1: to be one right in order for this thing to 457 00:24:15,119 --> 00:24:17,040 Speaker 1: be a rocket ship. And what I mean by that 458 00:24:17,160 --> 00:24:20,359 Speaker 1: is other players like that's why I can continue to 459 00:24:20,400 --> 00:24:22,159 Speaker 1: do what they do. It hard to continue to do 460 00:24:22,160 --> 00:24:24,879 Speaker 1: what they do. Um, some of our startup competitors that 461 00:24:24,920 --> 00:24:26,480 Speaker 1: are on the B two B side can continue to 462 00:24:26,480 --> 00:24:28,320 Speaker 1: do what they do and UPSET still could be a 463 00:24:28,359 --> 00:24:31,680 Speaker 1: multibillion dollar company. Well, I don't believe that this is 464 00:24:31,720 --> 00:24:34,960 Speaker 1: a winner's take off deal. Um, And it's showing itself 465 00:24:35,040 --> 00:24:39,040 Speaker 1: up because you know, those companies are thriving, We are thriving, 466 00:24:39,280 --> 00:24:40,800 Speaker 1: and we're all kind of doing what we do right 467 00:24:40,840 --> 00:24:45,840 Speaker 1: now in the market more often than not, I personally 468 00:24:45,880 --> 00:24:48,280 Speaker 1: even and I'm sure this is a sentiment you know 469 00:24:48,400 --> 00:24:51,800 Speaker 1: that's mainstream. I see warranties has in like an unwanted 470 00:24:51,960 --> 00:24:55,680 Speaker 1: like up sell, you know, like, hey, you bought some 471 00:24:55,960 --> 00:25:00,639 Speaker 1: Q tips, you want the warranty Like, so like like, 472 00:25:01,200 --> 00:25:07,640 Speaker 1: how do you get over this consumer like sense about warranties? Yeah, 473 00:25:07,680 --> 00:25:09,720 Speaker 1: I mean so, first I would say, that's what so 474 00:25:09,760 --> 00:25:12,560 Speaker 1: exciting about our space, right it's a space of where 475 00:25:12,720 --> 00:25:14,479 Speaker 1: like you hate warranties or you don't want to hear 476 00:25:14,480 --> 00:25:17,840 Speaker 1: about warranties, and we're trying to put this fresh new 477 00:25:18,040 --> 00:25:21,919 Speaker 1: look that warranties are valuable to you, you know it. 478 00:25:22,240 --> 00:25:24,080 Speaker 1: I always go back to the stats about where we're 479 00:25:24,080 --> 00:25:27,160 Speaker 1: at in this country. Over forty percent of consumers don't 480 00:25:27,160 --> 00:25:30,280 Speaker 1: have four hundred dollars in their bank account. If something breaks, 481 00:25:30,280 --> 00:25:34,160 Speaker 1: we need to be replaced. And almost seventy consumers don't 482 00:25:34,160 --> 00:25:36,800 Speaker 1: have a thousand dollars in their savings account. So when 483 00:25:36,840 --> 00:25:39,159 Speaker 1: you look at where this country as as a whole, 484 00:25:39,600 --> 00:25:41,720 Speaker 1: you know, the next iPhone that comes back, it's gonna 485 00:25:41,760 --> 00:25:46,360 Speaker 1: cost We no longer can say, um that the iPhone 486 00:25:46,680 --> 00:25:48,720 Speaker 1: is a luxury. It was a luxury and two eight 487 00:25:48,720 --> 00:25:50,800 Speaker 1: when they launched it is no longer a luxury. It 488 00:25:50,880 --> 00:25:53,240 Speaker 1: is a necessity. Um. If I bet you, if you 489 00:25:53,280 --> 00:25:55,720 Speaker 1: look around yourself right now, you have four or five 490 00:25:55,760 --> 00:25:58,680 Speaker 1: devices around you that keep you connected to your world, 491 00:25:58,680 --> 00:26:02,200 Speaker 1: whether it's your laptop, tablet, your phone on whatever that 492 00:26:02,200 --> 00:26:04,280 Speaker 1: that may be. And so when we're looking at ups, 493 00:26:04,320 --> 00:26:06,920 Speaker 1: you were saying, well, we want to make it more affordable, 494 00:26:07,160 --> 00:26:09,240 Speaker 1: we want to make it more transparent, and we want 495 00:26:09,280 --> 00:26:11,080 Speaker 1: to make sure that we are servicing the hell out 496 00:26:11,080 --> 00:26:13,359 Speaker 1: of our customers. And if we can do those three 497 00:26:13,400 --> 00:26:16,520 Speaker 1: things and stay true to who we are, then we 498 00:26:16,560 --> 00:26:19,080 Speaker 1: can carve out our own little niche in this space, 499 00:26:19,119 --> 00:26:21,840 Speaker 1: which would end up being a yeah, a big thing 500 00:26:21,880 --> 00:26:26,040 Speaker 1: for consumers. So, um, yes, warranties are not sexy, you know. 501 00:26:26,080 --> 00:26:28,000 Speaker 1: We we we we we say that all the time. 502 00:26:28,400 --> 00:26:32,000 Speaker 1: But it is valuable for most of Americans. But sometimes 503 00:26:32,080 --> 00:26:34,359 Speaker 1: it's it's not even about the value, it's about the 504 00:26:34,400 --> 00:26:37,320 Speaker 1: experience of dealing with customer service, you know. So it's 505 00:26:37,760 --> 00:26:41,640 Speaker 1: I may be sold on hey, you got this iPhone, 506 00:26:41,840 --> 00:26:44,119 Speaker 1: but I know if I call, they're gonna be running 507 00:26:44,119 --> 00:26:46,560 Speaker 1: me through eight different you know, prompts on the phone. 508 00:26:46,720 --> 00:26:49,000 Speaker 1: Then they're gonna send me to Russia somewhere that I 509 00:26:49,080 --> 00:26:51,560 Speaker 1: have to figure out how to explain to them that's 510 00:26:51,560 --> 00:26:53,840 Speaker 1: something draw on my phone. So we don't really have 511 00:26:54,040 --> 00:26:58,600 Speaker 1: good relationships with warty providers, right, and so it's like 512 00:26:58,800 --> 00:27:01,560 Speaker 1: they're always trying to figure how to not pay to 513 00:27:01,680 --> 00:27:04,800 Speaker 1: help me, you know, get my stuff renewed. How do 514 00:27:04,880 --> 00:27:07,879 Speaker 1: you manage the customer service side of this experience without 515 00:27:07,920 --> 00:27:10,480 Speaker 1: exposing yourself to people who just want to take advantage 516 00:27:10,480 --> 00:27:13,359 Speaker 1: of the system. Yeah, I mean they're always going to 517 00:27:13,440 --> 00:27:15,240 Speaker 1: be people who want to take advantage, right that. That's 518 00:27:15,280 --> 00:27:18,480 Speaker 1: no matter what business you're in. But we have a 519 00:27:18,600 --> 00:27:21,360 Speaker 1: very very clear rule inside of UPSET that's take care 520 00:27:21,359 --> 00:27:23,800 Speaker 1: of the customer first, no matter what. We actually have 521 00:27:23,840 --> 00:27:26,760 Speaker 1: a budget inside of UPC that is to take care 522 00:27:26,760 --> 00:27:31,000 Speaker 1: of customer budget. I had a customer service. So in 523 00:27:31,040 --> 00:27:33,840 Speaker 1: our business, things go wrong sometimes that's just the nature 524 00:27:34,359 --> 00:27:37,160 Speaker 1: of the of the business. We're dealing with insurance companies 525 00:27:37,280 --> 00:27:40,919 Speaker 1: who always want to not not not pay claims as 526 00:27:40,960 --> 00:27:43,800 Speaker 1: much as possible, and we're like the opposite. We're like, no, 527 00:27:43,960 --> 00:27:46,439 Speaker 1: you're going to pay claims, even if we have to 528 00:27:46,440 --> 00:27:48,840 Speaker 1: pay the claim and so we have this budget that 529 00:27:48,880 --> 00:27:51,280 Speaker 1: if you start to go through that process and we 530 00:27:51,359 --> 00:27:53,480 Speaker 1: see you going through that process, literally, you'll get a 531 00:27:53,520 --> 00:27:55,520 Speaker 1: phone call from us and say, hey, well, look we 532 00:27:55,600 --> 00:27:57,560 Speaker 1: see you having a tough time. We just want to 533 00:27:57,560 --> 00:27:59,680 Speaker 1: get you taken care of. I can't tell you how 534 00:27:59,680 --> 00:28:03,520 Speaker 1: many thousands of dollard from her customer that have made 535 00:28:03,600 --> 00:28:07,040 Speaker 1: us simply because they're like, well they actually care. Well, 536 00:28:07,560 --> 00:28:09,400 Speaker 1: when you just got a warranty at Best Buy, they're 537 00:28:09,400 --> 00:28:10,920 Speaker 1: not gonna call you and say, hey man, we see 538 00:28:10,960 --> 00:28:12,600 Speaker 1: you having a tough time, let us take care of you. 539 00:28:12,880 --> 00:28:15,480 Speaker 1: So what we've done we created this like loyalty with 540 00:28:15,520 --> 00:28:19,560 Speaker 1: our customers that they say, look, even if I'm in 541 00:28:19,640 --> 00:28:22,560 Speaker 1: the right, upset is always gonna take care of me, 542 00:28:23,480 --> 00:28:26,119 Speaker 1: even when you're wrong. Like I got a buddy, We 543 00:28:26,240 --> 00:28:30,280 Speaker 1: just sent them a brand new washing machine. We just 544 00:28:31,920 --> 00:28:34,840 Speaker 1: didn't didn't didn't didn't talk to him, didn't ask for permission, 545 00:28:35,000 --> 00:28:37,080 Speaker 1: didn't do anything. It just shows up at that house 546 00:28:37,119 --> 00:28:40,680 Speaker 1: one day and like, holy moly, what's going on? Because 547 00:28:40,720 --> 00:28:42,920 Speaker 1: this is what we believe in, You're gonna be taken 548 00:28:42,920 --> 00:28:47,280 Speaker 1: care of. I dig it dig it um. You mentioned 549 00:28:47,320 --> 00:28:49,800 Speaker 1: like the Best Buys and the targets UM, and you 550 00:28:49,840 --> 00:28:52,680 Speaker 1: also mentioned there's some other you know, sharks in the water. 551 00:28:53,640 --> 00:28:55,720 Speaker 1: I want you to like to level set like what 552 00:28:56,000 --> 00:28:59,160 Speaker 1: the landscape looks like for the war team market and 553 00:28:59,200 --> 00:29:01,840 Speaker 1: like is this a game where it's like a David 554 00:29:01,840 --> 00:29:04,440 Speaker 1: and Goliath and you're like trying to figure out how 555 00:29:04,440 --> 00:29:06,440 Speaker 1: to topple the big dragons or do you have to 556 00:29:06,480 --> 00:29:10,560 Speaker 1: outrun your counterparts? Who are you know in the early 557 00:29:10,680 --> 00:29:14,120 Speaker 1: stages to be to your earlier point, you don't have 558 00:29:14,160 --> 00:29:17,560 Speaker 1: to be right, you gotta be right or thirty percent right? 559 00:29:18,200 --> 00:29:21,360 Speaker 1: What has to happen to where you're fifty right? Does 560 00:29:21,520 --> 00:29:24,000 Speaker 1: is it toppling the best buy the target? Or is 561 00:29:24,040 --> 00:29:28,000 Speaker 1: it making sure that you know FLIPSI, you know buppsy 562 00:29:28,680 --> 00:29:32,080 Speaker 1: is not you know, taking the market here, right, So 563 00:29:32,200 --> 00:29:34,400 Speaker 1: there's two sides of our market. There is a B 564 00:29:34,480 --> 00:29:36,040 Speaker 1: two B side. So that is the side when you 565 00:29:36,040 --> 00:29:38,880 Speaker 1: go to the website, UM, like you go to you 566 00:29:38,920 --> 00:29:41,440 Speaker 1: go to buy an e commerce skateboard or something, and 567 00:29:41,480 --> 00:29:43,400 Speaker 1: there's a little box set that says, you know, will 568 00:29:43,480 --> 00:29:45,760 Speaker 1: would you like to add a warranty to your checkout? 569 00:29:46,200 --> 00:29:49,520 Speaker 1: There's that side of the market. Then there's ups that's 570 00:29:49,360 --> 00:29:51,320 Speaker 1: it's always totally different side of the market, which is 571 00:29:51,360 --> 00:29:54,280 Speaker 1: B t C. Like you won't we won't ever be 572 00:29:54,320 --> 00:29:57,880 Speaker 1: at your checkout, but we will always be here. So 573 00:29:57,960 --> 00:29:59,760 Speaker 1: when when you leave check out, you can come to upse, 574 00:30:00,680 --> 00:30:03,880 Speaker 1: find your thing protected and move on. Um. So when 575 00:30:03,920 --> 00:30:06,440 Speaker 1: you look at the landscape, there's like the Best Buyes 576 00:30:06,480 --> 00:30:09,239 Speaker 1: of the world. There's square trays of the world, you know. 577 00:30:09,560 --> 00:30:12,240 Speaker 1: Um there there is like the Assurings of the world. 578 00:30:12,560 --> 00:30:14,280 Speaker 1: They all are sitting on that like B two B 579 00:30:14,480 --> 00:30:16,719 Speaker 1: side where they want to be at checkout. They want 580 00:30:16,720 --> 00:30:19,520 Speaker 1: to work with the retailers and and get that EG distribution. 581 00:30:20,040 --> 00:30:23,240 Speaker 1: What we're saying is that we believe that the most 582 00:30:23,240 --> 00:30:26,080 Speaker 1: important person in this equation is actually not the retailer, 583 00:30:26,440 --> 00:30:29,240 Speaker 1: it's the customer. So we want to sit on their side. 584 00:30:29,280 --> 00:30:32,280 Speaker 1: So which means you gotta give great pricing, you gotta 585 00:30:32,320 --> 00:30:34,360 Speaker 1: make sure you're transparent, and you gotta make sure your 586 00:30:34,360 --> 00:30:36,480 Speaker 1: service to hell a lot of your customers because if 587 00:30:36,480 --> 00:30:37,920 Speaker 1: you don't, they're just gonna go back to the way 588 00:30:37,960 --> 00:30:40,400 Speaker 1: it used to be done. And so for us, when 589 00:30:40,440 --> 00:30:43,520 Speaker 1: we look at the landscape, we're always in a David 590 00:30:43,680 --> 00:30:48,080 Speaker 1: Goliath type story because everybody only knows like the big 591 00:30:48,120 --> 00:30:50,360 Speaker 1: box retailers doing it the way they to do, and 592 00:30:50,360 --> 00:30:52,680 Speaker 1: I actually enjoy that because the way I'm built, I 593 00:30:52,720 --> 00:30:54,560 Speaker 1: wanted to be David and Goliath, and I want to 594 00:30:54,560 --> 00:30:56,680 Speaker 1: be the one throwing the rock. But then we have 595 00:30:56,720 --> 00:30:59,720 Speaker 1: the other side where startups are coming out and doing 596 00:30:59,720 --> 00:31:03,200 Speaker 1: the B B thing and we're like cool, like great, 597 00:31:04,160 --> 00:31:07,040 Speaker 1: They're they're going directly after the best vice too. I 598 00:31:07,080 --> 00:31:10,680 Speaker 1: think more people in the game helps us topple the 599 00:31:10,920 --> 00:31:14,520 Speaker 1: big players. So I'm appreciative of kind of the players 600 00:31:14,560 --> 00:31:17,960 Speaker 1: that are doing it differently. But from a startup a standpoint, Um, 601 00:31:18,000 --> 00:31:20,920 Speaker 1: I would imagine, and I could be wrong because I'm 602 00:31:20,960 --> 00:31:23,560 Speaker 1: I don't know your whole business, but I would imagine 603 00:31:23,880 --> 00:31:26,760 Speaker 1: the warranties are like the face value opportunities, and that 604 00:31:26,840 --> 00:31:30,000 Speaker 1: there's some rabbit hole to where you can build a 605 00:31:30,280 --> 00:31:35,520 Speaker 1: stronger lifetime value of this relationship. Um, how do how 606 00:31:35,600 --> 00:31:41,360 Speaker 1: do you get deeper relationships with your customers beyond just 607 00:31:41,640 --> 00:31:45,960 Speaker 1: you know, ensuring their iPhone? So you would be amazed 608 00:31:46,040 --> 00:31:48,800 Speaker 1: that the average household by seven new devices a year 609 00:31:49,320 --> 00:31:52,720 Speaker 1: and has over fifty connected devices in their home. So 610 00:31:53,160 --> 00:31:55,240 Speaker 1: when you look at how do we build a relationship, 611 00:31:55,560 --> 00:31:58,160 Speaker 1: it is not just protecting your iPhone. It's about how 612 00:31:58,160 --> 00:32:01,440 Speaker 1: do we protect your TVs, how do we protect your laptop? 613 00:32:01,800 --> 00:32:03,640 Speaker 1: And then how do we continue to get deeper and 614 00:32:03,680 --> 00:32:05,600 Speaker 1: deeper in your life? So what happens on me? We 615 00:32:05,680 --> 00:32:09,960 Speaker 1: got customers where they got fifty devices protected under us. 616 00:32:10,120 --> 00:32:12,640 Speaker 1: Everything in their house is protected with upseat. And then 617 00:32:12,640 --> 00:32:15,760 Speaker 1: where we see ourselves going is going vertical. Right. So 618 00:32:16,120 --> 00:32:19,240 Speaker 1: auto warranties is another place where there's a big opportunity, 619 00:32:19,480 --> 00:32:21,760 Speaker 1: twenty billion dollar industry in the United States where we 620 00:32:21,800 --> 00:32:25,400 Speaker 1: think that eventually we're gonna end up playing that game too. Um. 621 00:32:25,440 --> 00:32:28,240 Speaker 1: And then it's about latching on. Um, Hey you bought 622 00:32:28,240 --> 00:32:30,840 Speaker 1: this iPhone, you can also get this specific case for 623 00:32:30,880 --> 00:32:33,600 Speaker 1: your phone because we know everything about your device. Um. 624 00:32:33,640 --> 00:32:35,600 Speaker 1: So we see all these different verticals going in the 625 00:32:35,680 --> 00:32:39,560 Speaker 1: products where we play. But taking a step back, I 626 00:32:39,640 --> 00:32:42,400 Speaker 1: tell investors all the time, we are extremely focused on 627 00:32:42,440 --> 00:32:46,040 Speaker 1: being the best warranty selling company in the United States, 628 00:32:46,320 --> 00:32:48,400 Speaker 1: and then we'll let this other stuff come, you know, 629 00:32:48,440 --> 00:32:50,600 Speaker 1: kind of as as as a customer kind of pulls 630 00:32:50,640 --> 00:32:53,880 Speaker 1: it out of us. You know, in your story, I 631 00:32:53,960 --> 00:32:56,280 Speaker 1: was reading you used to work for a trucking company 632 00:32:56,320 --> 00:32:59,400 Speaker 1: and is a time where you said you negotiate a 633 00:32:59,400 --> 00:33:04,920 Speaker 1: new contract an increased revenue by two while managing ten people. Um, 634 00:33:04,920 --> 00:33:07,360 Speaker 1: so you had chops right. And so this is before 635 00:33:07,400 --> 00:33:12,280 Speaker 1: you started up obviously. And there are many people who 636 00:33:12,920 --> 00:33:15,280 Speaker 1: are great at their jobs. They work for, you know, 637 00:33:15,320 --> 00:33:17,800 Speaker 1: a big corporation or their own and upward trajectory in 638 00:33:17,840 --> 00:33:21,320 Speaker 1: their career. They're not yet founders of their businesses, but 639 00:33:21,360 --> 00:33:25,320 Speaker 1: they want to start businesses. But they're finding success. Those 640 00:33:25,360 --> 00:33:29,080 Speaker 1: success indicators are apparent at what they do, um, but 641 00:33:29,080 --> 00:33:33,080 Speaker 1: they're afraid to take that entrepreneurial leap. You weren't afraid, apparently. 642 00:33:33,840 --> 00:33:35,840 Speaker 1: What do you say to those folks who are sitting 643 00:33:35,920 --> 00:33:40,120 Speaker 1: on ideas? They're so good at delivering for their employer, 644 00:33:40,920 --> 00:33:43,600 Speaker 1: but they don't know how to step out in being 645 00:33:43,680 --> 00:33:46,080 Speaker 1: the employer. My advice to go back to what I 646 00:33:46,120 --> 00:33:48,760 Speaker 1: said earlier. You have you gotta get out and just 647 00:33:48,840 --> 00:33:53,360 Speaker 1: do it. It is scary, it sucks, it's um. You know, 648 00:33:53,440 --> 00:33:55,520 Speaker 1: you gotta trim your life back to a to a 649 00:33:55,560 --> 00:34:00,240 Speaker 1: place of where you're bare minimums. Um. You know you 650 00:34:00,280 --> 00:34:02,800 Speaker 1: hear the stories about the ramen noodle diet a month 651 00:34:03,240 --> 00:34:07,840 Speaker 1: entrepreneurs and like no cars like literally, my wife and 652 00:34:07,880 --> 00:34:11,560 Speaker 1: I we like I had a nineties six seed bring 653 00:34:11,960 --> 00:34:14,360 Speaker 1: the air conditioning and the heat didn't work. So in 654 00:34:14,360 --> 00:34:17,600 Speaker 1: the wintertime in Minnesota, I would literally like have blankets 655 00:34:17,600 --> 00:34:20,239 Speaker 1: in the car, but he's driving with blankets over me. Um. 656 00:34:20,280 --> 00:34:22,440 Speaker 1: And in the summer, I would be stripped down to 657 00:34:23,239 --> 00:34:26,360 Speaker 1: my undershirt and my underwear in the car until I 658 00:34:26,400 --> 00:34:28,560 Speaker 1: got to my destination and then put my suit on 659 00:34:28,600 --> 00:34:30,840 Speaker 1: when I got there. Um, like we were down to 660 00:34:30,920 --> 00:34:34,600 Speaker 1: like bare mineral, no going out to eat, no vacations, 661 00:34:35,080 --> 00:34:37,719 Speaker 1: no nothing, because we knew. We were like, we want 662 00:34:37,719 --> 00:34:40,600 Speaker 1: to sacrifice now. I got this same either you're gonna 663 00:34:40,600 --> 00:34:45,520 Speaker 1: sacrifice now or you're gonna sacrifice later. You're gonna do it, 664 00:34:45,600 --> 00:34:51,319 Speaker 1: You're gonna sacrifice, You're gonna sacrifice. And oftentimes entrepreneurs were like, well, 665 00:34:51,600 --> 00:34:54,680 Speaker 1: I'm at this corporate gig, I'm making six figures. Life 666 00:34:54,719 --> 00:34:56,400 Speaker 1: is good. I got the house in the car and 667 00:34:56,480 --> 00:34:59,800 Speaker 1: data die. But this entrepreneur game is one you have 668 00:34:59,920 --> 00:35:01,840 Speaker 1: to sacrifice all of that if you want to do 669 00:35:01,880 --> 00:35:05,560 Speaker 1: it the right way, Like you can't come out of 670 00:35:05,600 --> 00:35:09,520 Speaker 1: that make a bunch of money and yeah and live 671 00:35:09,600 --> 00:35:12,520 Speaker 1: the best life that you want to live. Um. So 672 00:35:12,560 --> 00:35:14,279 Speaker 1: I would say, like, you have to do it and 673 00:35:14,320 --> 00:35:17,279 Speaker 1: you have to understand you are going to sacrifice. But 674 00:35:17,400 --> 00:35:20,839 Speaker 1: I can tell you if you ask my wife, if 675 00:35:20,880 --> 00:35:24,400 Speaker 1: you ask my friends, like where we're at today versus 676 00:35:24,400 --> 00:35:26,759 Speaker 1: where we made all the sacrifice, it was all worth it. 677 00:35:27,320 --> 00:35:40,279 Speaker 1: I would do it again. Black Tag Green Money is 678 00:35:40,280 --> 00:35:42,480 Speaker 1: a production the Black of the Afro Tech on the 679 00:35:42,480 --> 00:35:45,839 Speaker 1: Black Effect podcast Networking My Heart Media is produced by 680 00:35:45,840 --> 00:35:49,600 Speaker 1: Morgan Dubard, me Well lucas well at the SIP production 681 00:35:49,640 --> 00:35:53,000 Speaker 1: support by Love Visa and Marissa Lewis. Special thank you 682 00:35:53,040 --> 00:35:55,279 Speaker 1: to Michael Davis since the cars when you you know 683 00:35:55,400 --> 00:35:58,719 Speaker 1: like the wine. Yes that's his real name. Learn more 684 00:35:58,719 --> 00:36:00,880 Speaker 1: about my guests and other technis rup as an Innovatives 685 00:36:00,880 --> 00:36:03,640 Speaker 1: at afrotech dot Com. Video version of this episode will 686 00:36:03,680 --> 00:36:05,919 Speaker 1: shop to Black Tech Green Money on YouTube next week. 687 00:36:05,920 --> 00:36:09,920 Speaker 1: It's up tapping enjoining Black Tech Green Money. Leave us 688 00:36:09,920 --> 00:36:13,479 Speaker 1: a five star rating on iTunes. Go eat your money, 689 00:36:14,600 --> 00:36:22,480 Speaker 1: Peace in love. M h m hm, m hm m 690 00:36:22,719 --> 00:36:22,839 Speaker 1: hm