WEBVTT - EYL #58 Know Your Worth feat. Kezia M. Williams 0:00:00.040 --> 0:00:03.600 An illegal alien from Guatemala charged with raping a child 0:00:03.680 --> 0:00:07.480 in Massachusetts. An MS thirteen gang member from Al Salvador 0:00:07.720 --> 0:00:11.840 accused of murdering a Texas man of Venezuelan charged with 0:00:11.920 --> 0:00:15.840 filming and selling child pornography in Michigan. These are just 0:00:15.920 --> 0:00:19.680 some of the heinous migrant criminals caught because of President 0:00:19.720 --> 0:00:23.320 Donald J. Trump's leadership. I'm Christy nom the United States 0:00:23.320 --> 0:00:28.120 Secretary of Homeland Security. Under President Trump, attempted illegal border 0:00:28.160 --> 0:00:31.680 crossings are at the lowest levels ever recorded, and over 0:00:31.760 --> 0:00:34.960 one hundred thousand illegal aliens have been arrested. If you 0:00:35.040 --> 0:00:38.920 are here illegally, your next you will be fined nearly 0:00:39.000 --> 0:00:43.000 one thousand dollars a day, imprisoned, and deported. You will 0:00:43.040 --> 0:00:46.680 never return. But if you register using our CBP home 0:00:46.720 --> 0:00:50.120 app and leave now, you could be allowed to return legally. 0:00:50.479 --> 0:00:51.280 Do what's right. 0:00:51.840 --> 0:00:52.720 Leave now. 0:00:53.040 --> 0:00:57.840 Under President Trump, America's laws, border and families will be protected. 0:00:57.920 --> 0:01:00.000 Sponsored by the United States Department of Homeland Security. 0:01:00.240 --> 0:01:05.080 All right, guys, welcome back, ey l Maryland Edition DC Edition. 0:01:05.160 --> 0:01:08.000 Actually yeah, shout outs to DC. Shout out the District 0:01:08.000 --> 0:01:11.240 of Columbia for sure. So before we start, we just 0:01:11.280 --> 0:01:14.160 got to think you guys, we had a crazy event 0:01:15.040 --> 0:01:17.840 this morning, and you also had a crazy event as well, 0:01:18.080 --> 0:01:20.759 so don't talk about that for sure. But yeah, yeah, 0:01:20.760 --> 0:01:23.280 we had a crazy, crazy event. Day two will be tomorrow. 0:01:23.280 --> 0:01:24.800 Well by the time you heit, it'll be over. But 0:01:25.560 --> 0:01:28.440 the DC Weekend d m V Weekend was a tremendous 0:01:28.440 --> 0:01:31.360 success in Atlanta. We're coming next. That's our next stop. 0:01:32.120 --> 0:01:34.400 January twenty fifth and January twenty sixth. We headed to 0:01:34.440 --> 0:01:36.440 the a Way. We're going to do it big out 0:01:36.480 --> 0:01:37.400 there for the whole weekend. 0:01:37.480 --> 0:01:42.520 So a big shout out to Capital Events Group Man 0:01:43.160 --> 0:01:46.480 Tiarhani Dera Man, he did an amazing job putting that together, 0:01:47.360 --> 0:01:49.320 So definitely shout out to him. Man, if you're in 0:01:49.360 --> 0:01:52.240 the DC area and you need an event plan, hit 0:01:52.280 --> 0:01:52.800 my man out. 0:01:52.840 --> 0:01:56.120 Man the most the most important person. Yeah, sure, that's 0:01:56.160 --> 0:01:59.720 that's a fact. That's the fact. So all right, I'm 0:01:59.720 --> 0:02:02.280 excited about this episode for a few different reasons. A 0:02:02.320 --> 0:02:04.760 lot of people they always tag us like who they 0:02:04.760 --> 0:02:13.760 want to see. We try to accommodate as much as 0:02:13.760 --> 0:02:18.000 we possibly can. So Kezia Williams, if you don't know, 0:02:18.120 --> 0:02:21.760 she's the CEO of Black Upstart and yeah, she has 0:02:21.800 --> 0:02:22.480 that signature. 0:02:23.280 --> 0:02:26.119 Man, Listen, you're not drag it out. 0:02:26.480 --> 0:02:26.679 Man. 0:02:27.440 --> 0:02:30.800 It's like seven's and then the end like three's and 0:02:30.840 --> 0:02:31.760 then like another. 0:02:34.000 --> 0:02:37.720 Now she's really dope. She's a big proponent of financial literacy. 0:02:37.919 --> 0:02:42.160 She's a big proponent of entrepreneurships, definitely in our community 0:02:42.200 --> 0:02:45.440 and teaching, teaching entrepreneurship. She has a whole program. We're 0:02:45.440 --> 0:02:49.040 gonna talk about that. So one of the things I 0:02:49.120 --> 0:02:50.960 like about her, like if you follow her Instagram page, 0:02:51.040 --> 0:02:54.720 is that she always like posts like these Twitter posts 0:02:54.720 --> 0:02:58.040 that she puts up and it's like seven different ones, 0:02:58.080 --> 0:03:00.240 so you always got to go to the sexual but 0:03:00.320 --> 0:03:08.440 it's like real life you got left right, but it's 0:03:08.480 --> 0:03:11.280 real life common sense stuff that people can use. And 0:03:11.320 --> 0:03:13.520 a lot of times people they've been asking us like, 0:03:13.560 --> 0:03:15.880 you know, we love all of this high finance and 0:03:15.919 --> 0:03:18.079 stuff like this, but how do I pick my fall 0:03:18.200 --> 0:03:20.840 one k? Or like how do I budget? Prop? How 0:03:20.880 --> 0:03:23.320 do I start a business? So these are all things 0:03:23.320 --> 0:03:26.280 that she posts like on a daily basis on Instagram 0:03:26.600 --> 0:03:28.560 and I'm sure all other social media outlets. Is what 0:03:28.680 --> 0:03:32.680 I follow on Instagram and also with her company, the 0:03:32.720 --> 0:03:36.320 Black up Start, they help people start businesses, like they 0:03:36.320 --> 0:03:38.720 give them the fundamentals of how to start a business, so. 0:03:39.080 --> 0:03:41.160 Employ people, Like that's one of the things, like they 0:03:41.200 --> 0:03:43.360 have a lot of entrepreneurs, but how many can employ people. 0:03:43.520 --> 0:03:45.000 I think that's that's commendable that. 0:03:48.440 --> 0:03:48.600 Though. 0:03:50.520 --> 0:03:53.800 So so all right, so first and foremost, thank you 0:03:53.840 --> 0:03:55.160 for joining us, appreciate it. 0:03:55.080 --> 0:03:57.600 Thank you for having me. Congratulations to you. 0:03:57.680 --> 0:04:00.920 Vote on your events, and I think all the Instagram 0:04:00.960 --> 0:04:03.160 stories and it was like people upon people all this 0:04:03.280 --> 0:04:05.320 black excellency, So we. 0:04:05.320 --> 0:04:07.600 Had too of you. You had an event, Black Upstart 0:04:07.640 --> 0:04:09.360 had an event, and then your legion had an event. 0:04:09.400 --> 0:04:11.280 We didn't know we was having events, and so the 0:04:11.360 --> 0:04:13.120 events was already set, but we had events at the 0:04:13.120 --> 0:04:18.479 same time. Pretty much y'all. But it was dope. You know, 0:04:18.520 --> 0:04:20.960 that's just that's just that's just that just means that 0:04:20.960 --> 0:04:23.800 the energy is out there, and you know, it's the 0:04:23.880 --> 0:04:27.280 time for for for financial literacy and entrepreneurship. 0:04:27.720 --> 0:04:30.480 The communities already, man, so that that's even more so. 0:04:30.480 --> 0:04:32.920 Can you tell us your journey how you became an entrepreneur, because, 0:04:33.040 --> 0:04:34.719 like I said off camera, but you I like for 0:04:34.720 --> 0:04:36.320 a few different reasons, but one of the reasons is 0:04:36.320 --> 0:04:39.359 that you you have it. What we call like a 0:04:39.400 --> 0:04:41.479 traditional job. We'll talk about that, but you have a 0:04:41.520 --> 0:04:43.480 company as well. A lot of time people feel like 0:04:43.680 --> 0:04:47.520 it's one of the other, right, and it's not true. 0:04:47.920 --> 0:04:50.960 Like even Troy. Troy is an educator and he's an 0:04:51.040 --> 0:04:55.520 entrepreneur as well. Entrepreneurs So, but the hardest part, I 0:04:55.560 --> 0:04:57.600 think for most people is mindset. Like we will talk 0:04:57.640 --> 0:05:01.200 about strategy and all that all day, but the mindset 0:05:01.240 --> 0:05:03.800 is the most important thing. And it's very difficult for 0:05:03.839 --> 0:05:06.680 somebody to leave or to jump off the porch and 0:05:06.720 --> 0:05:09.320 to land. It is somewhere where it's kind of unknown, 0:05:09.400 --> 0:05:12.040 you don't really know. It's like typewalking with no safety net. 0:05:12.160 --> 0:05:15.960 So how did you start your entrepreneur journey? 0:05:16.600 --> 0:05:20.080 Okay, that's a great, great question. So I like to 0:05:20.120 --> 0:05:23.359 tell folks that the nine to five is a fixed income. 0:05:23.920 --> 0:05:27.480 So you work eight hours, you get paid. Eight hours, 0:05:27.520 --> 0:05:29.800 you work ten hours, you get paid, eight hours, you 0:05:29.839 --> 0:05:31.280 work twelve hours, you get paid. 0:05:31.320 --> 0:05:33.960 How many hours you get paid? Hey hour. 0:05:35.320 --> 0:05:38.040 It's a fixed income. And it's one of those things 0:05:38.080 --> 0:05:40.599 that I wasn't taught growing up. So like I was 0:05:40.600 --> 0:05:43.000 taught that the definition of success was you go to 0:05:43.120 --> 0:05:46.280 high school and you get a diploma, you go to college, 0:05:46.320 --> 0:05:48.200 you get a degree, and then you go and get 0:05:48.240 --> 0:05:51.719 a good government job with benefits, and then you retire. 0:05:51.839 --> 0:05:54.240 And that's the definition of success, right. 0:05:54.560 --> 0:05:54.760 Yeah. 0:05:56.000 --> 0:05:58.839 When I graduated from college, I did exactly what my 0:05:58.920 --> 0:06:01.640 mother told me to do, and I spent six years 0:06:01.640 --> 0:06:05.520 working for the federal government and I worked in counterintelligence, 0:06:05.640 --> 0:06:09.480 counter weapons, and master instruction counter terrorism. I had a 0:06:09.520 --> 0:06:13.360 clearance a top secret sci full scope polygraph. Only thirteen 0:06:13.440 --> 0:06:16.480 thousand people in the nation have that clearance. But I 0:06:16.520 --> 0:06:18.960 would go to work every day at nine am and 0:06:19.160 --> 0:06:22.080 five pm. I would run out as fast as I could. 0:06:22.680 --> 0:06:25.799 And during the time when I would be off of work, 0:06:25.920 --> 0:06:29.320 I would participate in endeavors that I started. And at 0:06:29.320 --> 0:06:31.960 that point, I didn't consider myself an entreprene the words. 0:06:32.000 --> 0:06:36.200 So one of the endeavors that I participated in was 0:06:36.200 --> 0:06:38.279 Young and Power for Obama, which I was telling you about. 0:06:38.440 --> 0:06:41.680 And this was an initiative that galvanized young black professionals 0:06:41.720 --> 0:06:45.680 across the country to raise money for then Senator Obama. 0:06:47.160 --> 0:06:48.520 This was in two thousand. 0:06:48.240 --> 0:06:50.880 And eight, Yeah, when he was Senator Obama, and it 0:06:50.920 --> 0:06:53.080 was young black professionals from six different cities. 0:06:53.120 --> 0:06:53.920 We would host. 0:06:53.680 --> 0:06:56.640 Fundraisers the fundraisers would cost anywhere between twenty to fifty 0:06:56.720 --> 0:06:59.120 dollars and we would donate one hundred percent of the 0:06:59.160 --> 0:07:03.120 money to campaign. Before he was elected, we raised a 0:07:03.160 --> 0:07:05.719 quarter of a million dollars. And when he was elected 0:07:05.760 --> 0:07:10.280 and became President, Barack Obama matha for President. We hosted 0:07:10.320 --> 0:07:14.640 a collection of inaugural events. Reverend Al Sharpton came, We 0:07:14.680 --> 0:07:17.760 had Jesse Jackson, he was there. Oprah she drove by 0:07:17.840 --> 0:07:23.840 the car, she waved to the wave, counted one day. 0:07:23.520 --> 0:07:25.920 Shake her hand. We all gonna take her hand. But 0:07:26.000 --> 0:07:26.800 it was a great event. 0:07:26.840 --> 0:07:29.120 We raised another quarter of a million dollars, so I 0:07:29.120 --> 0:07:31.640 was about half a million dollars by time everything was 0:07:31.640 --> 0:07:34.120 said and done. In the entire time, I was working 0:07:34.400 --> 0:07:36.920 nine am to five pm, and I was working young 0:07:36.920 --> 0:07:39.160 in Power for Obama from six pm to about one 0:07:39.200 --> 0:07:43.440 am in the morning. But when everything ended, folks started saying, 0:07:43.440 --> 0:07:47.280 you know what I mean, Raising money for President Obama 0:07:47.760 --> 0:07:50.080 was great, but I was only interested in politics just 0:07:50.080 --> 0:07:52.640 because of him, And so folks began to really ask 0:07:52.680 --> 0:07:55.160 the question like what was next? And what came from 0:07:55.200 --> 0:07:58.040 that is a nonprofit that I started, Capital Cause, where 0:07:58.080 --> 0:08:01.840 I trained young black philanthropists to raise money for startup 0:08:01.880 --> 0:08:06.880 nonprofit organizations, and we had five thousand members. We raised 0:08:06.880 --> 0:08:09.560 about sixty thousand dollars and gave away five thousand dollars 0:08:09.600 --> 0:08:12.760 grants to these businesses. And still throughout all of that, 0:08:13.080 --> 0:08:15.280 I did not consider myself an entrepreneurs. 0:08:15.400 --> 0:08:17.240 What inspires you to take that route? 0:08:17.280 --> 0:08:17.400 Right? 0:08:17.440 --> 0:08:20.640 You raised money for politics? What said entrepreneurs are? 0:08:20.840 --> 0:08:21.000 Yes? 0:08:21.080 --> 0:08:21.400 Yes. 0:08:21.480 --> 0:08:24.120 So it was a six year worker for the federal 0:08:24.160 --> 0:08:27.760 government and as I was telling Rasha, my boss is 0:08:27.800 --> 0:08:31.880 switched up and I was working for white men at 0:08:31.880 --> 0:08:34.520 that time. I switched up to a white woman and 0:08:34.559 --> 0:08:38.359 we sat down and she said to me that, you know, 0:08:37.960 --> 0:08:40.800 I don't think that you're qualified to do this work. 0:08:41.120 --> 0:08:42.960 And I was like, well, why don't you think I'm qualified? 0:08:42.960 --> 0:08:44.640 And she was like, because you don't have a pH d, 0:08:44.880 --> 0:08:47.079 you don't have a master's degree, you have a bachelor's degree, 0:08:47.080 --> 0:08:50.640 and here you are writing national security reports that the 0:08:50.720 --> 0:08:52.959 Vice President of the United States are seeing. So I'm 0:08:53.000 --> 0:08:56.679 about to switch up your job responsibilities. And she changed 0:08:56.720 --> 0:09:00.400 our responsibilities from writing these reports to organizing travel for 0:09:00.440 --> 0:09:03.920 the office. So I would go to work at nine am, 0:09:04.200 --> 0:09:06.120 I get out of five VM and still get paid 0:09:06.160 --> 0:09:10.400 six figures, then this will be okay. But then three 0:09:10.400 --> 0:09:13.520 months later she switched out my job responsibilities again. She 0:09:13.600 --> 0:09:15.720 was like, I just think organizing travel is too complicated 0:09:15.720 --> 0:09:17.080 for you, just like national. 0:09:16.760 --> 0:09:19.280 Security reports each complicated for you. 0:09:19.600 --> 0:09:21.920 So now you're gonna be printing badges for people in 0:09:21.920 --> 0:09:24.840 the office when non secure people come and visit. And 0:09:24.880 --> 0:09:26.960 so I was like, okay, well, am I still gonna 0:09:26.960 --> 0:09:29.600 be getting paid like six figures. I'll work from nine am, 0:09:29.679 --> 0:09:32.760 I'll leave at five pm. And so did that for 0:09:32.800 --> 0:09:35.320 three months, and then three months later she came back 0:09:35.360 --> 0:09:38.640 and she was like, making badges was also too complicated 0:09:38.679 --> 0:09:40.680 for me and above my pay grade. And she asked 0:09:40.679 --> 0:09:43.320 me to take my chair and follow her down a 0:09:43.360 --> 0:09:45.559 hallway and we stopped outside of a bathroom. 0:09:45.600 --> 0:09:46.680 Oh like, literally take the chair. 0:09:46.760 --> 0:09:49.680 Take the chair had wheels on it. We was walking, 0:09:49.720 --> 0:09:51.200 she was tipping, I was tippling with my child. 0:09:51.200 --> 0:09:52.320 I was like, oh, Laura, where are we going? 0:09:52.760 --> 0:09:56.000 And we ended up outside of a bathroom and she said, well, 0:09:56.000 --> 0:09:58.360 I want you to sit down and for every non 0:09:58.400 --> 0:10:00.800 clear person that comes in, it'll be your job to 0:10:00.800 --> 0:10:04.240 buzz them in and out of the bathroom. And I 0:10:04.280 --> 0:10:07.000 remember asking myself and asking her, am, I still gonna 0:10:07.000 --> 0:10:08.480 get paid six figures, but at. 0:10:08.320 --> 0:10:10.880 That point question change. 0:10:11.000 --> 0:10:12.479 I can never changed. 0:10:12.200 --> 0:10:14.199 Because I was there nine am five pm. I was 0:10:14.240 --> 0:10:14.960 walking out of the door. 0:10:15.320 --> 0:10:17.840 But I asked myself like, YEO, it was great being 0:10:17.840 --> 0:10:20.960 paid six figures, but you know, work to me meant 0:10:20.960 --> 0:10:22.760 more than that, Like the value that I was creating 0:10:22.800 --> 0:10:25.640 outside of work, raising money for Obama, helping young black 0:10:25.640 --> 0:10:28.120 philanthropists give back, that was the work that was really fulfilling. 0:10:28.160 --> 0:10:29.839 And coming to work every day and sitting outside of 0:10:29.840 --> 0:10:32.000 the bathroom watching people. Well, I want to watch people 0:10:32.040 --> 0:10:33.679 do their business, but they were going there watching the. 0:10:33.600 --> 0:10:35.200 Door when they were going hit it out. They need 0:10:35.280 --> 0:10:35.840 their business. 0:10:35.840 --> 0:10:38.360 But so after about two weeks, I called it my 0:10:38.400 --> 0:10:40.200 mom and I was like, Mom, like, I can't do 0:10:40.240 --> 0:10:42.000 this anymore. I need to quit my job. And she 0:10:42.080 --> 0:10:43.920 was like, do you have anything saved up? At that point, 0:10:43.920 --> 0:10:45.760 I had about three months worth of savings and she 0:10:45.800 --> 0:10:47.120 was like, well, babe, I think you should have another 0:10:47.200 --> 0:10:49.679 job lined up. And I was like, I don't think 0:10:49.720 --> 0:10:51.400 I can do it, Like I can't come in here 0:10:51.440 --> 0:10:53.160 every single day and open this door for people. 0:10:53.800 --> 0:10:54.439 Yeah, exactly. 0:10:54.520 --> 0:10:56.760 And she was like, well, if you want to quit baby, 0:10:56.840 --> 0:10:59.080 like I got you. And I remember quitting my job, 0:10:59.200 --> 0:11:00.840 like I quit my job, but I was so excited. 0:11:00.840 --> 0:11:03.760 Have y'all ever quit it out before you could job? No, 0:11:04.160 --> 0:11:04.679 you could, y'all. 0:11:04.760 --> 0:11:05.000 I did. 0:11:05.120 --> 0:11:05.600 I did quit. 0:11:05.800 --> 0:11:06.360 How'd you feel? 0:11:06.960 --> 0:11:07.520 It was great? 0:11:07.720 --> 0:11:07.920 Yeah? 0:11:07.960 --> 0:11:10.280 I mean I felt excellent, Like I went running out there. 0:11:10.280 --> 0:11:12.199 I was like, oh my god, I am so free, 0:11:12.280 --> 0:11:13.559 like no more than nine a five? 0:11:13.679 --> 0:11:14.200 Right, yeah? 0:11:14.880 --> 0:11:18.199 But then Friday hit. I was like my friends time 0:11:18.280 --> 0:11:20.480 that I wasn't getting paid. I was telling her shod. 0:11:20.559 --> 0:11:22.200 I called up unemployment and I was like, I guess 0:11:22.200 --> 0:11:23.959 I better get on this unemployment and get this check. 0:11:24.160 --> 0:11:25.800 I remember talking to the lady. I was like, yeah, 0:11:25.840 --> 0:11:27.600 I quit my job and I heard did y'all like 0:11:27.640 --> 0:11:29.720 pay fifty percent of your paycheck? So I'm just trying 0:11:29.760 --> 0:11:31.440 to figure out, like how do I submit this paperwork? 0:11:31.600 --> 0:11:32.680 And she was like, you said you quit? 0:11:32.920 --> 0:11:33.640 And I was like, yeah, I. 0:11:33.559 --> 0:11:35.160 Said I quit, And she was like, yeah, you don't 0:11:35.200 --> 0:11:37.160 get unemployment when you quit your job. 0:11:38.559 --> 0:11:38.760 Yes. 0:11:38.920 --> 0:11:40.320 I was like, did I say I quit? Like what 0:11:40.360 --> 0:11:40.800 have meant? 0:11:40.840 --> 0:11:42.839 Was a right? 0:11:42.880 --> 0:11:43.640 Could I have fire? 0:11:43.920 --> 0:11:45.599 And so she was like, yeah, that's the unemployment for you. 0:11:45.640 --> 0:11:47.400 And if there was you wouldn't getting fifty percent of 0:11:47.440 --> 0:11:50.439 your paycheck. So I was unemployed for six weeks. And 0:11:50.520 --> 0:11:52.280 during those six weeks, a woman who worked with me 0:11:52.320 --> 0:11:54.920 with Younger Power for Obama called me and she was like, 0:11:55.720 --> 0:11:58.720 I have a job, and the job is launching a 0:11:58.800 --> 0:12:01.559 national entrepreneurship in this where you would teach African American 0:12:01.640 --> 0:12:04.440 undergraduate students how to start a business before they graduate 0:12:04.480 --> 0:12:09.480 from school. Especially since a black undergraduate student's college degree 0:12:09.600 --> 0:12:11.960 is equivalent to a white person's high school diploma. 0:12:12.080 --> 0:12:13.560 Can you talk about that? You talk about that? 0:12:13.840 --> 0:12:15.240 Yeah, absolutely, so. 0:12:17.000 --> 0:12:19.959 About what a black college degree is equivalent to a 0:12:19.960 --> 0:12:21.120 white diploma. 0:12:21.240 --> 0:12:24.560 Yes, a black person's college degree is equivalent to a 0:12:24.559 --> 0:12:27.160 white person's high school diploma, which means that a black 0:12:27.200 --> 0:12:30.040 person can go to the same high school as a 0:12:30.080 --> 0:12:32.840 white person, go to the same college as a white person, 0:12:33.120 --> 0:12:35.000 and apply for the same job as a white person, 0:12:35.400 --> 0:12:39.040 but when they get higher their pay is separate and unequal. 0:12:39.440 --> 0:12:42.199 So yeah, I think I read a statistics somewhere. It's 0:12:42.280 --> 0:12:42.720 very similar. 0:12:42.760 --> 0:12:45.720 It was like middle class black family is equivalent to 0:12:45.760 --> 0:12:46.520 a poor white. 0:12:46.280 --> 0:12:47.319 Family, poor white family. 0:12:47.400 --> 0:12:49.959 Yeah, and black women, especially I mean black people in generally, 0:12:49.960 --> 0:12:52.200 our parents teach us to work twice as hard, to 0:12:52.200 --> 0:12:54.120 be twice as smart, to go into work and be 0:12:54.160 --> 0:12:57.640 twice as exceptional, and somehow, some way will be the 0:12:57.720 --> 0:12:59.319 same as a white person. At the end of the day, 0:12:59.320 --> 0:13:01.880 black women is actually will lose eight hundred and forty 0:13:01.880 --> 0:13:05.640 thousand dollars over their working career, not because they're our smart, intelligent, 0:13:05.760 --> 0:13:07.960 or well equipped to do the job, but simply because 0:13:07.960 --> 0:13:09.040 they're black and they're women. 0:13:09.559 --> 0:13:13.000 So black women graduate college at the fastest rate, at 0:13:13.040 --> 0:13:14.600 the highest rate out of any ethnic group. 0:13:15.080 --> 0:13:16.199 I think that's what analysts say. 0:13:16.360 --> 0:13:19.679 Yeah, but they're not paid obviously at the same. 0:13:19.559 --> 0:13:20.320 Level they're not paid. 0:13:20.360 --> 0:13:23.520 And I think that that's why it's no question while 0:13:23.640 --> 0:13:26.520 black women are the fastest growing segment of entrepreneurs, Like 0:13:26.559 --> 0:13:29.319 I like to tell people that, Like, I don't think 0:13:29.320 --> 0:13:31.280 that black people are starting businesses because they want to 0:13:31.320 --> 0:13:33.920 be the next Black Bill Gates. Love Beyonce, but the 0:13:34.040 --> 0:13:36.199 next Black Bill Gates are the next Steve Jobs or 0:13:36.240 --> 0:13:39.360 the next Mark Zuckerberg. They're starting businesses because they want 0:13:39.360 --> 0:13:41.520 to be economically free. They want to be able to 0:13:41.559 --> 0:13:44.880 pay themselves with their companies refuse to pay them despite 0:13:44.920 --> 0:13:49.240 being qualified for them. That represents economic freedom. And economic liberation. 0:13:49.600 --> 0:13:52.040 We had a guess who actually was talking about the 0:13:52.120 --> 0:13:54.400 exact topic, and they was saying, even with that, the 0:13:54.520 --> 0:13:56.800 entrepreneurism getting loans to. 0:13:56.800 --> 0:14:00.560 Start fenture capitals. So black women are starting businesses at 0:14:00.600 --> 0:14:03.560 the fastest rate, but they get venture capital at the 0:14:03.640 --> 0:14:08.679 smallest rate out of any ethnic group, gender group in America. 0:14:08.800 --> 0:14:11.360 So it doesn't really make sense if you think about it, 0:14:11.400 --> 0:14:13.680 because it's like you would figure more entrepreneurs, you would 0:14:13.720 --> 0:14:16.120 get at least some sort of venture capital. That's what 0:14:16.200 --> 0:14:19.080 venture capital is. They lend money to entrepreneurs, but they 0:14:19.080 --> 0:14:21.360 get the least amount of funding from venture capital. 0:14:21.840 --> 0:14:24.120 I think what's interesting is that black people need to 0:14:24.200 --> 0:14:28.120 have a more dynamic conversation around funding and so I 0:14:28.160 --> 0:14:32.120 think when it comes to VC, that percentage is absolutely true. 0:14:32.400 --> 0:14:34.600 But that's not the only type of business that black 0:14:34.640 --> 0:14:37.320 people are starting. Isn't innovations driven enterprises, which is what 0:14:37.400 --> 0:14:40.280 that is the type of businesses that qualify for venture capital. 0:14:40.800 --> 0:14:42.840 There are two types of businesses that you can start. 0:14:42.920 --> 0:14:45.400 There's a SMEE and there's an ide. There's a small 0:14:45.400 --> 0:14:48.440 medium sized enterprise where you can raise a friends and 0:14:48.520 --> 0:14:51.120 family round. You can go on to razoo. If you're 0:14:51.120 --> 0:14:54.760 starting a nonprofit. If you're starting with Razoo is a 0:14:54.800 --> 0:14:58.840 crowdfunding platform for five on one c three nonprofit organizations 0:14:58.880 --> 0:15:01.080 where you can invite your friends to go on and donate. 0:15:01.480 --> 0:15:03.320 The only way that you can qualify to get on 0:15:03.400 --> 0:15:07.160 Razoo is if you have an IRS designation. If you 0:15:07.200 --> 0:15:10.720 have a for profit or let's say you're a sole proprietor, 0:15:10.960 --> 0:15:13.320 which means that you do business as yourself, you can 0:15:13.360 --> 0:15:16.640 go on to Indiegogo. You can go onto what a 0:15:16.680 --> 0:15:18.440 lot of people think it's an unpopular site, but go 0:15:18.520 --> 0:15:20.200 funding and you can do the same thing. You can 0:15:20.240 --> 0:15:22.920 ask your friends and family essentially to invest in your 0:15:23.040 --> 0:15:26.000 business idea or to contribute towards your business idea. But 0:15:26.080 --> 0:15:29.000 for a small medium sized enterprise, in addition to doing crowdfunding, 0:15:29.200 --> 0:15:31.520 you can also do bank loans and you can also 0:15:31.600 --> 0:15:34.920 fund your own business. That's fundamentally different than an ID 0:15:35.240 --> 0:15:39.240 an innovations driven enterprise. We're essentially going into debt by soliciting, yes, 0:15:39.360 --> 0:15:42.200 angel investment and also venture capital, and those people are 0:15:42.240 --> 0:15:45.000 betting on you to serve a global market, while small 0:15:45.040 --> 0:15:49.560 medium sized enterprises serve a small or regional market. So 0:15:49.560 --> 0:15:52.320 those are your nail saligns. Those are your hair stylists, 0:15:52.360 --> 0:15:53.840 those are your local coffee shops. 0:15:54.040 --> 0:15:57.680 So all right, that's interesting. What's it called a ip ID? 0:15:58.080 --> 0:16:01.360 So that is an innovation driven enterprise ns ME, which 0:16:01.400 --> 0:16:03.240 is a small or medium sized enterprise. 0:16:03.400 --> 0:16:05.560 Okay, So do you think that that's a that's an 0:16:05.640 --> 0:16:09.080 issue though with Black community as a whole, where I 0:16:09.160 --> 0:16:12.840 see most businesses and the business ideas are small. The 0:16:12.880 --> 0:16:15.960 problem with small businesses that for the most part, they 0:16:15.960 --> 0:16:18.360 stay small and you can't scale it. They don't really 0:16:18.360 --> 0:16:22.600 make that much. Most majority of business owners don't make 0:16:22.640 --> 0:16:25.880 money like we know that, like the average employee makes 0:16:25.920 --> 0:16:29.680 more than a business owner, like per average. One of 0:16:29.720 --> 0:16:33.560 the reasons is that most businesses are small, very small, right, 0:16:33.640 --> 0:16:39.560 Like one person so like the grocery well not the 0:16:39.600 --> 0:16:42.800 grocery stores, but the delis, the bodegas if he was 0:16:42.800 --> 0:16:56.000 in theas there, the barbershops, the local restaurants. Do you 0:16:56.080 --> 0:16:59.600 think that that's an issue with Black entrepreneurship that it's 0:16:59.640 --> 0:17:03.960 always a lot of times not on a bigger global vision, 0:17:03.960 --> 0:17:06.080 it's more on a community based, small vision. 0:17:06.359 --> 0:17:09.520 I think it's important to know the data. So currently 0:17:09.520 --> 0:17:12.560 there are two point five six million Black entrepreneurs, but 0:17:12.640 --> 0:17:14.720 only one hundred and ten thousand of them have the 0:17:14.760 --> 0:17:18.080 capacity to employ least one person. Now, what you're speaking 0:17:18.119 --> 0:17:22.480 about is probably the two point four million people who can't. Right, 0:17:22.520 --> 0:17:24.960 the one hundred and ten thousand black entrepreneurs who are 0:17:24.960 --> 0:17:28.239 employers employ less than a million people, but there are 0:17:28.280 --> 0:17:32.119 eighteen point five million black people in the workforce. That 0:17:32.160 --> 0:17:34.640 means that a majority of black people work for somebody 0:17:34.920 --> 0:17:38.560 who don't look like them, which means tomorrow, if those 0:17:38.560 --> 0:17:41.880 employers were to come in and fire every single black 0:17:41.920 --> 0:17:45.320 person on the back on the payroll, those black folks 0:17:45.320 --> 0:17:50.320 would be what unemployees. Yeah, and that soil, they would 0:17:50.320 --> 0:17:52.520 be essel and they would be on employed. So Black Upstart, 0:17:52.520 --> 0:17:54.560 I'm glad you're talking about this. What we do is 0:17:54.600 --> 0:17:57.800 we teach black entrepreneurs not just how to start a business, 0:17:57.800 --> 0:17:59.800 but how to start a business that can create a job, 0:18:00.040 --> 0:18:01.679 so they don't have to go begging other people to 0:18:01.720 --> 0:18:04.800 do for them where they are capable of doing for themselves. Now, 0:18:04.840 --> 0:18:08.639 for black entrepreneurs, the average black entrepreneur grosses less than 0:18:08.680 --> 0:18:11.280 six figures and revenue, which means that a lot of 0:18:11.359 --> 0:18:14.840 black entrepreneurs are starting businesses and their lifestyle businesses, which 0:18:14.920 --> 0:18:17.720 means that they're just essentially hustling. And what a hustler 0:18:17.760 --> 0:18:19.639 does is they wake up every single day and they 0:18:19.680 --> 0:18:22.440 try to get money. While entrepreneur wakes up every day 0:18:22.440 --> 0:18:24.600 and what they're doing is they're doing business. They're creating 0:18:24.640 --> 0:18:28.640 systems and processes so that when they're business scales, other 0:18:28.680 --> 0:18:31.680 people can work for their business outside of just them. 0:18:32.119 --> 0:18:34.520 So I think that there's a difference between the barbershop 0:18:34.520 --> 0:18:37.880 owner who probably has employees, the coffee shop owner, even 0:18:37.920 --> 0:18:40.639